Document:

Second Amended and Restated Term Loan Credit Agreement

 Exhibit 10.30 

 
  
 AMENDED AND RESTATED 
 TERM LOAN CREDIT AGREEMENT 

among 
 OMNOVA
SOLUTIONS INC., 
 VARIOUS LENDERS 
 and 
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as ADMINISTRATIVE AGENT 
 and 
 COLLATERAL AGENT 

 
  

Dated as of May 22, 2007 
 and 
 Amended and Restated 

on December 9, 2010 
  

 
 $200,000,000

 DEUTSCHE BANK SECURITIES INC. 
 and J.P. MORGAN SECURITIES LLC, 
 as JOINT LEAD ARRANGERS and JOINT BOOKRUNNING
MANAGERS 
  
  

Cahill Gordon & Reindel LLP 
 80 Pine Street 
 New York, NY 10005 

1082260 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 SECTION 1.
	  	Definitions and Accounting Terms; Effect of Restatement	  			
			
	 1.01
	  	Defined Terms	  	 	1	  
	 1.02
	  	Effect of Restatement	  	 	28	  
			
	 SECTION 2.
	  	Amount and Terms of Credit	  			
			
	 2.01
	  	The Commitments	  	 	29	  
	 2.02
	  	Minimum Amount of Each Borrowing	  	 	29	  
	 2.03
	  	Notice of Borrowing	  	 	29	  
	 2.04
	  	Disbursement of Funds	  	 	30	  
	 2.05
	  	Notes	  	 	30	  
	 2.06
	  	Conversions	  	 	31	  
	 2.07
	  	Pro Rata Borrowings	  	 	31	  
	 2.08
	  	Interest	  	 	31	  
	 2.09
	  	Interest Periods	  	 	32	  
	 2.10
	  	Increased Costs, Illegality, etc.	  	 	33	  
	 2.11
	  	Compensation	  	 	35	  
	 2.12
	  	Change of Lending Office	  	 	35	  
	 2.13
	  	Replacement of Lenders	  	 	35	  
	 2.14
	  	Limitations on Additional Amounts, etc.	  	 	36	  
	 2.15
	  	Incremental Term Commitments	  	 	36	  
			
	 SECTION 3.
	  	Fees; Reductions of Commitment	  			
			
	 3.01
	  	Agent Fees	  	 	37	  
	 3.02
	  	Mandatory Reduction of Commitments	  	 	37	  
			
	 SECTION 4.
	  	Prepayments; Payments; Taxes	  			
			
	 4.01
	  	Voluntary Prepayments	  	 	37	  
	 4.02
	  	Mandatory Repayments	  	 	38	  
	 4.03
	  	Method and Place of Payment	  	 	41	  
	 4.04
	  	Net Payments; Taxes	  	 	41	  
			
	 SECTION 5.
	  	Conditions Precedent to Restatement Effective Date	  			
			
	 SECTION 6.
	  	Representations and Warranties	  			
			
	 6.01
	  	Status	  	 	48	  
	 6.02
	  	Power and Authority	  	 	48	  
	 6.03
	  	No Violation	  	 	49	  
	 6.04
	  	Governmental Approvals	  	 	49	  
	 6.05
	  	Financial Statements; Financial Condition; Undisclosed Liabilities; Projections; etc.	  	 	49	  
	 6.06
	  	Litigation	  	 	50	  
	 6.07
	  	True and Complete Disclosure	  	 	50	  

  
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	 	  	 	  	Page	 
			
	 6.08
	  	Use of Proceeds; Margin Regulations	  	 	51	  
	 6.09
	  	Tax Returns and Payments	  	 	51	  
	 6.10
	  	ERISA; Foreign Pension Plans	  	 	51	  
	 6.11
	  	The Security Documents	  	 	52	  
	 6.12
	  	Properties; No Recovery Event	  	 	53	  
	 6.13
	  	Capitalization	  	 	53	  
	 6.14
	  	Subsidiaries	  	 	53	  
	 6.15
	  	Compliance with Statutes, etc.	  	 	53	  
	 6.16
	  	Investment Company Act	  	 	53	  
	 6.17
	  	Environmental Matters	  	 	53	  
	 6.18
	  	Labor Relations	  	 	54	  
	 6.19
	  	Patents, Licenses, Franchises and Formulas	  	 	54	  
	 6.20
	  	Indebtedness	  	 	54	  
	 6.21
	  	Representations and Warranties in Documents	  	 	55	  
	 6.22
	  	Insurance	  	 	55	  
	 6.23
	  	Anti-Terrorism Laws	  	 	55	  
			
	 SECTION 7.
	  	Affirmative Covenants	  			
			
	 7.01
	  	Information Covenants	  	 	55	  
	 7.02
	  	Books, Records and Inspections	  	 	58	  
	 7.03
	  	Maintenance of Property; Insurance	  	 	58	  
	 7.04
	  	Maintenance of Existence; Intellectual Property	  	 	58	  
	 7.05
	  	Compliance with Statutes, etc	  	 	59	  
	 7.06
	  	Compliance with Environmental Laws	  	 	59	  
	 7.07
	  	ERISA	  	 	60	  
	 7.08
	  	End of Fiscal Years; Fiscal Quarters	  	 	60	  
	 7.09
	  	Performance of Obligations	  	 	60	  
	 7.10
	  	Payment of Taxes	  	 	60	  
	 7.11
	  	Additional Security; Further Assurances	  	 	61	  
	 7.12
	  	Ownership of Subsidiaries	  	 	62	  
	 7.13
	  	Use of Proceeds	  	 	62	  
	 7.14
	  	Maintenance of Company Separateness	  	 	62	  
	 7.15
	  	Deposit Accounts	  	 	62	  
	 7.16
	  	Post-Closing Obligations	  	 	63	  
			
	 SECTION 8.
	  	Negative Covenants	  			
			
	 8.01
	  	Liens	  	 	64	  
	 8.02
	  	Consolidation, Merger, Sale of Assets, etc	  	 	66	  
	 8.03
	  	Dividends	  	 	69	  
	 8.04
	  	Indebtedness	  	 	69	  
	 8.05
	  	Advances, Investments, Loans, Purchase of Assets	  	 	71	  
	 8.06
	  	Transactions with Affiliates	  	 	73	  
	 8.07
	  	Limitation on Payments of Certain Indebtedness; Modifications of Certain Indebtedness; Modifications of Certificate of Incorporation, By-Laws and Certain Agreements;
etc.	  	 	74	  
	 8.08
	  	Limitation on Certain Restrictions on Subsidiaries	  	 	74	  
	 8.09
	  	Limitation on Issuance of Equity	  	 	75	  
	 8.10
	  	Business	  	 	75	  

  
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	 	  	 	  	Page	 
			
	8.11	  	Limitation on the Creation of Subsidiaries	  	 	75	  
	8.12	  	Multiemployer Plans	  	 	75	  
	8.13	  	Financial Covenants	  	 	75	  
			
	SECTION 9.	  	Events of Default	  			
			
	9.01	  	Payments	  	 	77	  
	9.02	  	Representations, etc.	  	 	77	  
	9.03	  	Covenants	  	 	77	  
	9.04	  	Default Under Other Agreements	  	 	77	  
	9.05	  	Bankruptcy, etc.	  	 	78	  
	9.06	  	ERISA	  	 	78	  
	9.07	  	Security Documents	  	 	78	  
	9.08	  	Guarantees	  	 	78	  
	9.09	  	Judgments	  	 	78	  
	9.10	  	Change of Control	  	 	78	  
	9.11	  	ABL/Term Loan Intercreditor Agreement	  	 	79	  
			
	SECTION 10.	  	The Administrative Agent	  			
			
	10.01	  	Appointment	  	 	79	  
	10.02	  	Nature of Duties	  	 	79	  
	10.03	  	Lack of Reliance on the Administrative Agent	  	 	80	  
	10.04	  	Certain Rights of the Administrative Agent	  	 	80	  
	10.05	  	Reliance	  	 	80	  
	10.06	  	Indemnification	  	 	80	  
	10.07	  	The Administrative Agent in Its Individual Capacity	  	 	81	  
	10.08	  	Holders	  	 	81	  
	10.09	  	Resignation by the Administrative Agent	  	 	81	  
			
	SECTION 11.	  	Miscellaneous	  			
			
	11.01	  	Payment of Expenses, etc	  	 	82	  
	11.02	  	Right of Setoff	  	 	83	  
	11.03	  	Notices	  	 	83	  
	11.04	  	Benefit of Agreement; Assignments; Participations	  	 	84	  
	11.05	  	No Waiver; Remedies Cumulative	  	 	85	  
	11.06	  	Payments Pro Rata	  	 	86	  
	11.07	  	Calculations; Computations	  	 	86	  
	11.08	  	GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL	  	 	86	  
	11.09	  	Counterparts	  	 	87	  
	11.10	  	Headings Descriptive	  	 	87	  
	11.11	  	Amendment or Waiver	  	 	87	  
	11.12	  	Confidentiality	  	 	89	  
	11.13	  	Register	  	 	90	  
	11.14	  	USA Patriot Act	  	 	90	  
	11.15	  	Survival	  	 	90	  
	11.16	  	Interest Rate Limitation	  	 	90	  

  
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	 SCHEDULES
	 	
		
	 Schedule 1.01(a)
	 	Commitments
	 Schedule 1.01(b)
	 	Lender Addresses
	 Schedule 1.01(c)
	 	Eliokem Reorganization
	 Schedule 5(j)(vi)
	 	Existing Indebtedness
	 Schedule 5(r)
	 	New Mortgaged Properties
	 Schedule 5(s)
	 	Existing Mortgaged Properties
	 Schedule 6.12
	 	Real Property
	 Schedule 6.13
	 	Capitalization
	 Schedule 6.14(a)
	 	Subsidiaries
	 Schedule 6.18
	 	Labor Contracts
	 Schedule 6.22
	 	Insurance
	 Schedule 8.01
	 	Existing Liens
	 Schedule 8.05
	 	Existing Investments

  

			
	 EXHIBITS
	 	
		
	 Exhibit A
	 	Form of Notice of Borrowing
	 Exhibit B
	 	Form of Note
	 Exhibit C
	 	Form of Section 4.04(b)(ii) Certificate
	 Exhibit D
	 	Form of Opinion of Frost Brown Todd LLC
	 Exhibit E
	 	Form of Officers’ Certificate
	 Exhibit F
	 	Form of Pledge Agreement*
	 Exhibit G
	 	Form of Security Agreement*
	 Exhibit H
	 	Form of Subsidiary Guarantee*
	 Exhibit I
	 	Form of Intercompany Note
	 Exhibit J
	 	Form of Assignment and Assumption Agreement
	 Exhibit K
	 	Form of ABL/Term Loan Intercreditor Agreement
	 Exhibit L
	 	Form of Solvency Certificate
	 Exhibit M
	 	Form of Incremental Term Commitment Agreement
	 Exhibit N
	 	Form of Joinder Agreement
	 Exhibit O
	 	Form of Lender Addendum

  

 
  

	*	For each Exhibit marked with an asterisk, the corresponding exhibit from the Original Credit Agreement shall continue to apply. 

  
 -iv-

 AMENDED AND RESTATED TERM LOAN CREDIT AGREEMENT, dated as of May 22, 2007 and amended
and restated as of December 9, 2010 among OMNOVA SOLUTIONS INC., an Ohio corporation (the “Company”), the Lenders party hereto from time to time and DEUTSCHE BANK TRUST COMPANY AMERICAS, as Administrative Agent and Collateral Agent
(all capitalized terms used herein and defined in Section 1 are used herein as therein defined). 

W I T N E S S E T H:

 WHEREAS, the Company, the Lenders (under and as defined in the Original Credit Agreement) and Deutsche Bank Trust Company
Americas are parties to a Credit Agreement, dated as of May 22, 2007 (as amended by Amendment No. 1, dated as of October 21, 2010, the “Original Credit Agreement”); 

WHEREAS, the Required Lenders (under and as defined in the Original Credit Agreement) have consented to the amendment and restatement of
the Original Credit Agreement on the terms set forth herein; 
 WHEREAS, pursuant to the Sale and Purchase Agreement dated
November 22, 2010 (including all schedules and exhibits thereto, the “Acquisition Agreement”) among the Company, and the respective owner of each ordinary share of Eliokem International, a French société par actions
simplifiée (together with its Subsidiaries, the “Acquired Business”), the Company will acquire all of the Acquired Business Stock (as hereinafter defined) of the Acquired Business (the “Acquisition”), with the Acquired
Business becoming a direct, Wholly-Owned Subsidiary of the Company; 
 WHEREAS, the Company has requested that immediately upon
the consummation of the Acquisition, the Term Lenders lend to the Company $200,000,000 to pay to the holders of the Acquired Business Stock a portion of the cash consideration for the Acquired Business Stock, to finance a portion of the Refinancing,
to pay transaction fees and expenses and to provide ongoing working capital and for other general corporate purposes of the Company and its Subsidiaries; and 
 WHEREAS, subject to and upon the terms and conditions herein set forth, the Lenders are willing to make available to the Company the senior secured term loan facility provided for herein; 

NOW, THEREFORE, IT IS AGREED: 
 SECTION 1.       Definitions and Accounting Terms; Effect of Restatement. 
 1.01     Defined Terms. As used in this Agreement, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms
of the terms defined): 
 “ABL Borrowing Availability” shall mean “Availability” as defined in the ABL
Credit Agreement. 
 “ABL Credit Agreement” shall mean the ABL Credit Agreement dated as of December 9, 2010, as
amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, by and among the Company, certain of the Company’s Subsidiaries from time to time party thereto, the lenders party thereto from time
to time and JPMorgan Chase Bank, N.A., as the administrative agent, providing for the making of ABL Loans and the issuance of ABL Letters of Credit, as it may be refinanced from time to time in accordance with the terms hereof pursuant to
Indebtedness which constitutes a Permitted Refinancing ABL Credit Facility. 

 “ABL Credit Documents” shall mean the “Loan Documents” as defined in the
ABL Credit Agreement. 
 “ABL Letters of Credit” shall mean the Letters of Credit as defined in the ABL Credit
Agreement. 
 “ABL Loans” shall mean the “Loans” as defined in the ABL Credit Agreement. 

“ABL Security Documents” shall mean the “Security Agreement” as defined in the ABL Credit Agreement and certain other
documents executed in connection therewith. 
 “ABL/Term Loan Intercreditor Agreement” shall have the meaning provided
in Section 5.02(j). 
 “Acquired Business” shall have the meaning specified in the recitals hereto. 

“Acquired Business Existing Indebtedness” shall mean (i) that certain senior facility agreement dated as of
October 10, 2006, as amended, restated, supplemented or otherwise modified from time to time, between the Acquired Business and Société Générale as security agent and issuing bank; (ii) that certain mezzanine
facility agreement dated as of October 10, 2006, as amended, restated, supplemented or otherwise modified from time to time, between the Acquired Business and Société Générale as agent and security agent and
(iii) the Acquired Business’s 10.0% Convertible Bonds. 
 “Acquired Business Stock” shall mean the
“Acquired Securities” as defined in the Acquisition Agreement. 
 “Acquisition” shall have the meaning
specified in the recitals hereto. 
 “Acquisition Agreement” shall have the meaning specified in the recitals hereto.

 “Additional Mortgage” shall have the meaning provided in Section 7.11(a). 

“Additional Mortgaged Property” shall have the meaning provided in Section 7.11(a). 

“Adjusted Working Capital” at any time shall mean Consolidated Current Assets (but excluding therefrom all cash and Cash
Equivalents) less Consolidated Current Liabilities. 
 “Administrative Agent” shall mean DBTCA, in its capacity as
Administrative Agent for the Lenders hereunder, and shall include any successor to the Administrative Agent appointed pursuant to Section 10.09. 
 “Affiliate” shall mean, with respect to any Person, any other Person (i) directly or indirectly controlling (including, but not limited to, all directors, officers and partners of such
Person), controlled by, or under direct or indirect common control with, such Person or (ii) that directly or indirectly owns more than 10% of any class of the voting securities or capital stock of or equity interests in such Person. A Person
shall be deemed to control another Person if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such other Person, whether through the ownership of voting securities, by
contract or otherwise. Notwithstanding anything herein to the contrary, the Agents and the Lenders shall be deemed not to be an Affiliate of the Company or any of its Subsidiaries. 

  
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 “Agent” shall mean the Administrative Agent and the Collateral Agent. 

“Agreement” shall mean this Amended and Restated Term Loan Credit Agreement, as modified, supplemented, amended, restated,
extended, renewed, refinanced or replaced from time to time. 
 “Anti-Terrorism Laws” shall mean any law related to
terrorism financing or money laundering including the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (“USA PATRIOT Act”) of 2001 (Title III of Pub. L. 107-56), The Currency
and Foreign Transactions Reporting Act (also known as the “Bank Secrecy Act”, 31 U.S.C. §§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959), the Trading With the Enemy Act (50 U.S.C. § 1 et seq., as
amended) and Executive Order 13224 (effective September 24, 2001). 
 “Applicable Margin” shall mean a percentage
per annum equal to: 
 (a) until delivery of financial statements for the fiscal quarter ending
February 28, 2011, (A) for Eurodollar Rate Loans, 4.00% and (B) for Base Rate Loans, 3.00%, and (b) thereafter, the percentages per annum set forth in the table below, based upon the Net Leverage Ratio as set forth in the most recent
officers’ certificate received by the Administrative Agent pursuant to Section 7.01(d): 
  

							
	 Pricing Level
	 	 Net Leverage Ratio
	 	 Eurodollar Margin
	 	 Base Rate Margin

				
	 1
	 	32.75:1	 	4.00%	 	3.00%
				
	 2
	 	< 2.75:1	 	3.75%	 	2.75%

 With respect to
clause (b) above, any increase or decrease in the Applicable Margin resulting from a change in the Net Leverage Ratio shall become effective as of the first Business Day immediately following the date an officers’ certificate is delivered
pursuant to Section 7.01(d); provided that at the option of the Administrative Agent or Lenders holding a majority of the then outstanding Loans, the Applicable Margin for Loans shall be determined by reference to Pricing Level 1 as of
the first Business Day after the date on which an officers’ certificate was required to have been delivered but was not delivered, and shall continue to so apply to and including the date on which such officers’ certificate is so delivered
(and thereafter the Applicable Margin shall be otherwise determined in accordance with clause (b)). 
 In the event that any
financial statements under Section 7.01 or an officers’ certificate is shown to be inaccurate, and such inaccuracy, if corrected, would have led to a higher Applicable Margin for any period (an “Applicable Period”) than
the Applicable Margin applied for such Applicable Period, then (i) the Borrower shall promptly (and in no event later than five (5) Business Days thereafter) deliver to the Administrative Agent a correct officers’ certificate for such
Applicable Period, (ii) the Applicable Margin shall be determined by reference to the corrected officers’ certificate (but in no event shall the Lenders owe any amounts to the Borrower), and (iii) the Borrower shall pay to the
Administrative Agent promptly upon demand (and in no event later than five (5) Business Days after demand) any additional interest owing as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly
applied by the Administrative Agent in accordance with the terms hereof. Notwithstanding anything to the contrary in this Agreement, any additional interest hereunder shall not be due and payable until demand is made for such payment pursuant to
clause (iii) above and accordingly, any nonpayment of such interest as result of any such inaccuracy shall not constitute a Default (whether retroactively or otherwise), and no such amounts shall be deemed overdue (and no amounts shall accrue

  
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interest at the rate set forth in Section 2.08(c)), at any time prior to the date that is five (5) Business Days following such demand. 

“Approved Bank” shall have the meaning provided in the definition of “Cash Equivalents.” 

“Asian Latex Businesses” shall mean those businesses in Asia with which the Company or any of its Subsidiaries shall have
entered into joint venture or similar agreements relating to making investments in assets to produce emulsion polymers, including styrene butadiene latex. 
 “Asset Sale” shall mean any sale, transfer or other disposition by the Company or any of its Subsidiaries to any Person other than the Company or any of its Wholly-Owned Subsidiaries of any
asset (including, without limitation, any sale, transfer or other disposition, or issuance, of capital stock or other equity interests or securities of a Subsidiary or another Person), of the Company or any of its Subsidiaries, other than any sale,
transfer or disposition permitted by Sections 8.02(i), (ii) (but only to the extent provided in such Section 8.02(ii)), (iv), (vi), (viii), (ix), (x), (xi), (xii), or (xiii). 

“Assignment and Assumption Agreement” shall mean the Assignment and Assumption Agreement substantially in the form of Exhibit J
(appropriately completed). 
 “Authorized Officer” of any Credit Party shall mean any of the President, the Chief
Financial Officer, the Treasurer, any Assistant Treasurer, any Vice-President, the Secretary or the General Counsel of such Credit Party or any other officer or employee of such Credit Party which is designated in writing to the Administrative Agent
by any of the foregoing officers of such Credit Party as being authorized to give such notices under this Agreement. 

“Bankruptcy Code” shall have the meaning provided in Section 9.05. 

“Bankruptcy Event” shall mean, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business, appointed for it, or, in the good faith
determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue
of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided that such ownership interest does not result in or provide such Person or its direct or
indirect parent company with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality), to
reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 
 “Base Rate” at any time
shall mean the highest of (i) the rate which is 1/2 of 1% in excess of the overnight Federal Funds Rate, (ii) the Eurodollar Rate applicable for an Interest Period of one month plus 1.00% and (iii) the Prime Lending Rate;
provided that the Base Rate shall not be less than 2.75%. 
 “Base Rate Loan” shall mean each Loan designated
or deemed designated as such by the Company at the time of the incurrence thereof or conversion thereto. 

“Borrowing” shall mean the borrowing of one Type of Loan from all the Lenders, on a given date (or resulting from a conversion
or conversions on such date) and, in the case of Eurodollar 

  
 -4-

 
Loans, having the same Interest Period; provided that Base Rate Loans incurred pursuant to Section 2.10(b) shall be considered part of the related Borrowing of Eurodollar Loans.

 “Business” shall mean any corporation, limited liability company, partnership or other business entity (or the
adjectival form thereof, where appropriate) or the equivalent of the foregoing in any foreign jurisdiction. 
 “Business
Day” shall mean (i) for all purposes other than as covered by clause (ii) below, any day except Saturday, Sunday and any day which shall be in New York City a legal holiday or a day on which banking institutions are authorized or
required by law or other government action to close and (ii) with respect to all notices and determinations in connection with, and payments of principal and interest on, Eurodollar Loans, any day which is a Business Day described in clause
(i) above and which is also a day for trading by and between lenders in the London interbank Eurodollar market. 

“Capital Expenditures” shall mean, with respect to any fiscal period of the Company, all payments made in such period in
respect of the cost of any fixed asset or improvement, or replacement, substitution or addition thereto, which has a useful life of more than one year, including without limitation, those costs arising in connection with the direct or indirect
acquisition of such asset by way of increased product or service charges and, without duplication, the amount of Capitalized Lease Obligations incurred by the Company with respect to such fiscal period. 

“Capitalized Lease Obligations” shall mean, with respect to any Person, all rental obligations which, under generally accepted
accounting principles, are or will be required to be capitalized on the books of such Person, in each case taken at the amount thereof accounted for as indebtedness in accordance with such principles. 

“Capital Stock” of any Person shall mean any and all shares, interests, rights to purchase, warrants, options, participations,
partnership, membership or other equivalents of or interests in (however designated) the equity of such Person, including any common stock and preferred stock, but excluding any debt securities and debt securities convertible into such equity.

 “Cash Equivalents” shall mean (i) securities issued or directly and fully guaranteed or insured by the United
States of America or any agency or instrumentality thereof (provided that the full faith and credit of the United States of America is pledged in support thereof) having maturities of not more than one year from the date of acquisition,
(ii) U.S. dollar denominated time deposits, certificates of deposit and bankers acceptances of (x) any Lender and (y) any bank which has, or whose parent company has, a short-term commercial paper rating from S&P of at least A-1
or the equivalent thereof or from Moody’s of at least P-1 or the equivalent thereof (any such bank or Lender, an “Approved Bank”), in each case with maturities of not more than one year from the date of acquisition,
(iii) commercial paper issued by any Approved Bank or by the parent company of any Approved Bank and commercial paper issued by, or guaranteed by, any company with a short-term commercial paper rating of at least A-1 or the equivalent thereof
by S&P or at least P-1 or the equivalent thereof by Moody’s, or guaranteed by any company with a long term unsecured debt rating of at least A or A2, or the equivalent of each thereof, from S&P or Moody’s, as the case may be, and
in each case maturing within six months after the date of acquisition, (iv) marketable direct obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof
maturing within one year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either S&P or Moody’s and (v) investments in money market funds substantially all the
assets of which are comprised of securities of the types described in clauses (i) through (iv) above. 

  
 -5-

 “Cash Proceeds” shall mean, with respect to any Asset Sale, the aggregate cash
payments (including any cash received by way of deferred payment pursuant to a note receivable issued in connection with such Asset Sale, but only as and when so received) received by the Company or any of its Subsidiaries from such Asset Sale.

 “CERCLA” shall mean the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended
from time to time, 42 U.S.C. § 9601 et seq. 
 “CFC” shall mean a Person that is a controlled
foreign corporation under Section 957 of the Code. 
 “Change in Law” shall have the meaning provided in
Section 2.10(a)(ii). 
 “Change of Control” shall mean (i) any “Person” or “group” (as
such terms are used in Sections 13(d) and 14(d) of the Exchange Act), shall have acquired beneficial ownership (within the meaning of Rule 13(d)-3 under the Exchange Act), directly or indirectly, of 35% or more of the issued and outstanding shares
of capital stock of the Company having the right to vote for the election of directors of the Company under ordinary circumstances or (ii) any “change of control” or similar event shall occur under the ABL Credit Documents.

 “Claims” shall have the meaning provided in the definition of “Environmental Claims.” 

“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings
issued thereunder. Section references to the Code are to the Code, as in effect on the date of this Agreement, and to any subsequent provisions of the Code amendatory thereof, supplemental thereto or substituted therefor. 

“Collateral” shall mean all property (whether real or personal) with respect to which any security interests have been granted
(or purported to be granted) pursuant to any Security Document, including, without limitation, all Pledge Agreement Collateral, all Security Agreement Collateral, all Mortgaged Properties, all Additional Mortgaged Properties and all cash and Cash
Equivalents delivered as collateral pursuant to Sections 4.02 or 7.11 hereof. 
 “Collateral Agent” shall mean the
Administrative Agent acting as collateral agent for the Secured Creditors pursuant to the Security Documents or any successor thereto, or any Affiliate thereof to the extent acting as mortgagee for the Secured Creditors pursuant to any Mortgage in
respect of Real Property owned by the Company and/or its Subsidiaries. 
 “Commitment” shall mean, for each Lender,
the amount set forth opposite such Lender’s name in Schedule 1.01(a), directly below the column entitled “Commitment,” as the same may be terminated pursuant to Section 3 or 9, as applicable. 

“Company” shall have the meaning provided in the first paragraph of this Agreement. 

“Company Existing Indebtedness” shall mean (i) the Original Credit Agreement and (ii) that certain Amended and
Restated Credit Agreement, dated as of May 22, 2007 among the Company, the lenders party thereto from time to time, and JPMorgan Chase Bank, N.A., as Agent for the Lenders, as amended, restated, supplemented or otherwise modified from time to
time in accordance with the terms thereof. 

  
 -6-

 “Confidential Information Memorandum” shall mean the Confidential Information
Memorandum dated October, 2010 relating to the Transaction. 
 “Consolidated Cash Interest Expense” shall mean with
respect to the Company and its Subsidiaries for any period, Consolidated Interest Expense for such period, less the sum of (without duplication and to the extent, but only to the extent, included in the determination of Consolidated Interest Expense
for such period): (i) amortization of debt discount and debt issuance fees and (ii) pay-in-kind interest or other non-cash interest expense. 
 “Consolidated Current Assets” shall mean, at any time, the consolidated current assets of the Company and its Subsidiaries excluding current assets of discontinued operations and current tax
assets. 
 “Consolidated Current Liabilities” shall mean, at any time, the consolidated current liabilities of the
Company and its Subsidiaries at such time, but excluding the current portion of any Indebtedness under this Agreement and the current portion of any other long-term Indebtedness which would otherwise be included therein and current liabilities of
discontinued operations and current tax liabilities. 
 “Consolidated EBITDA” shall mean, for any period, the sum of
Consolidated Net Income for such period plus, without duplication, the following to the extent deducted in calculating such Consolidated Net Income: 
 (1)       Consolidated Fixed Charges; 
 (2)       income tax expense determined on a consolidated basis in accordance with GAAP; 

(3)       depreciation expense determined on a consolidated basis in accordance with
GAAP; 
 (4)       amortization expense determined on a consolidated basis in
accordance with GAAP; 
 (5)       amounts attributable to minority interest;

 (6)       any extraordinary non-cash charge (including any impairment
charge or asset write-off pursuant to GAAP) (provided that if any such non-cash charge represents an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be
subtracted from Consolidated EBITDA to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period); 
 (7)       all costs and expenses arising from or related to the issuance of the Senior Notes, the incurrence of the Credit Documents and the ABL Credit Documents and the
Acquisition; 
 (8)       non-cash stock compensation, including any non-cash
expenses arising from stock options, stock grants or other equity-incentive programs, the granting of stock appreciation rights and similar arrangements; 

  
 -7-

 (9)        to the extent the related
loss is not added back in calculating such Consolidated Net Income, proceeds of business interruption insurance policies to the extent of such related loss; 
 (10)       cash charges related to the Jeannette flood not to exceed $600,000, a Thailand customs duty claim not to exceed $800,000, the Uniroyal settlement not to
exceed $300,000 and to the Columbus, Mississippi strike not to exceed $6,000,000 in the aggregate; 

(11)       one-time cash charges associated with plant closures, strikes and other
restructuring charges, in all cases not exceeding $6,000,000 in the aggregate prior to the Final Maturity Date (excluding any such charges pursuant to the Transaction); 

(12)       to the extent non-recurring and not capitalized, any fees, costs and
expenses of the Company and its Subsidiaries incurred as a result of Permitted Acquisitions, Investments, Asset Sales permitted hereunder and the issuance, repayment or amendment of equity interests or Indebtedness permitted hereunder (in each case,
whether or not consummated); 
 (13)       any non-cash impairment charges or
asset write-off or write-down resulting from the application of Statement of Financial Accounting Standards No. 142 or Statement of Financial Accounting Standards No. 144, and the amortization of intangibles arising pursuant to Statement
of Financial Accounting Standards No. 141 or any related subsequent Statement of Financial Accounting Standards or Accounting Standards Codification; and 
 (14)       non-cash gains, losses, income and expenses resulting from fair value accounting required by Statement of Financial Accounting Standards No. 133 or any
related subsequent Statement of Financial Accounting Standards or Accounting Standards Codification;  
 provided that
Consolidated EBITDA shall be reduced by the following: 
 (a)       all
non-cash items increasing such Consolidated Net Income (excluding (x) any non-cash item to the extent that it represents an accrual of cash receipts to be received in a subsequent period, (y) income from pension plans, retiree health plans
and adjustments to last-in-firstout reserves and (z) the amount attributable to minority interests); 

(b)       any non-recurring gains; and 

(c)       amounts paid in cash as dividends or other distributions to holders of
minority interests; 
 provided, further, that for the purposes of determining the Interest Coverage Ratio, Net Leverage Ratio and
Senior Secured Net Leverage Ratio, (a) any gain or loss arising from extraordinary items, as determined in accordance with GAAP, or (b) from any non-recurring charges consisting of charges for restructurings, reductions in work force, and
plant closing and consolidations and other non-recurring charges not to exceed $5,000,000 for any 12 month period for all such items in the aggregate, shall not be included in the calculation of Consolidated EBITDA related thereto. 

  
 -8-

 “Consolidated Fixed Charges” shall mean, with respect to any period, the sum
(without duplication) of: 
 (1)       the interest expense of the Company
and the Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP consistently applied, including, without limitation: 
 (a)       amortization of debt issuance costs and debt discount; 
 (b)       the net payments, if any, under Interest Rate Protection Agreements (including amortization of discounts); 

(c)       the interest portion of any deferred payment obligation; 

(d)       accrued interest; 

(e)       commissions, discounts and other fees and charges incurred in respect of
letters of credit or bankers acceptance financings; 
 (2)       the interest
component of the Capital Lease Obligations paid or accrued during such period; 

(3)       all interest capitalized during such period; 

(4)       the product of: 

(a)       the amount of all dividends on any series of preferred stock of the Company
and the Subsidiaries (other than dividends paid in Qualified Stock and other than dividends paid to the Company or to a Subsidiary) paid, accrued or scheduled to be paid or accrued during such period; and 

(b)       a fraction, the numerator of which is one and the denominator of which is
one minus then current effective consolidated Federal, state and local tax rate of the Company, expressed as a decimal. 

Consolidated Fixed Charges will exclude non-cash interest on any convertible or exchangeable notes that exists by virtue of the
bifurcation of the debt and equity components of convertible or exchangeable notes and the application FASB Staff Position APB 14-1 or any similar provision. Clauses (1), (2) and (3) of this definition, as modified by this final paragraph,
shall be “Consolidated Interest Expense.” 
 “Consolidated Interest Expense” shall have the meaning set
forth in the definition of “Consolidated Fixed Charges.” 
 “Consolidated Net Debt” shall mean, at any time,
the sum of (without duplication) (i) all Indebtedness of the Company and its Subsidiaries (on a consolidated basis) as would be required to be reflected as debt or Capitalized Lease Obligations on the liability side of a consolidated balance
sheet of the Company and its Subsidiaries in accordance with GAAP, (ii) all Indebtedness of the Company and its Subsidiaries of the type described in clauses (ii) and (vii) of the definition of Indebtedness and (iii) all
Contingent Obligations of the Company and its Subsidiaries in respect of Indebtedness of any third Person of the type referred to in preceding clauses (i) and (ii), in each case net of cash, Cash Equivalents and

  
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restricted cash on hand; provided that (x) the aggregate amount available to be drawn (i.e., unfunded amounts) under all letters of credit, bankers’ acceptances, bank
guaranties, surety bonds and similar obligations issued for the account of the Company or any of its Subsidiaries (but excluding, for avoidance of doubt, all unpaid drawings or other matured monetary obligations owing in respect of such letters of
credit, bankers’ acceptances, bank guaranties, surety bonds and similar obligations) shall not be included in any determination of “Consolidated Indebtedness” and (y) the amount of Indebtedness in respect of the Interest Rate
Protection Agreements and Other Hedging Agreements shall be at any time the unrealized net loss position, if any, of the Company and/or its Subsidiaries thereunder on a marked-to-market basis determined no more than one month prior to such time.

 “Consolidated Net Income” shall mean , for any period, the net income (or loss) of the Company and the Subsidiaries
for such period, determined on a consolidated basis in accordance with GAAP consistently applied; provided that there shall not be included in such Consolidated Net Income: 

(1)       any extraordinary gains (net of taxes, fees and expenses relating to the
transaction giving rise thereto) or losses or expenses; 
 (2)       any net
income or loss of any Person if such Person is not a Subsidiary, except Consolidated Net Income shall be increased by the amount of cash actually distributed by such Person during such period to the Company or a Subsidiary as a dividend or other
distribution (subject, in the case of a dividend or other distribution paid to a Subsidiary, to the limitations contained in clause (3) below); 
 (3)       solely for the purposes of determining the amount available for Restricted Payments under clause (b) of the definition of “Permitted Dividend
Amount,” the net income of any Subsidiary to the extent that the declaration of dividends or similar distributions by that Subsidiary of that income is not at the time permitted, directly or indirectly, without prior approval (that has not been
obtained), pursuant to the terms of its charter or any agreement, instrument and governmental regulation applicable to such Subsidiary or its stockholders; 
 (4)       any gain or loss realized upon any Asset Sale (net of taxes, fees and expenses relating to the transaction giving rise thereto); 

(5)       any net after-tax income or loss from discontinued operations; and

 (6)       any gain or loss realized as a result of the cumulative effect
of a change in accounting principles. 
 “Consolidated Net Senior Secured Debt” shall mean, at any time of
determination, all Indebtedness of the Company and its Subsidiaries secured by a Lien on any assets of the Company and its Subsidiaries, net of cash, Cash Equivalents and restricted cash on hand. 

“Consolidated Net Tangible Assets” shall mean, at any time of determination, the total assets of the Credit Parties on a
consolidated basis less the sum of (a) the goodwill, net, and other intangible assets and (b) all current liabilities, in each case, reflected on the most recent consolidated balance sheet required to be delivered pursuant to
Section 7.01(a) or (b), determined on a consolidated basis in accordance with GAAP. 
 “Contingent Obligation”
shall mean, as to any Person, any obligation of such Person guaranteeing or intended to guarantee any Indebtedness, leases, dividends or other obligations (“primary obligations”) of any other Person (the “primary obligor”) in any
manner, whether directly or indirectly, 

  
 -10-

 
including, without limitation, any obligation of such Person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security
therefor, (ii) to advance or supply funds (x) for the purchase or payment of any such primary obligation or (y) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of
the primary obligor, (iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or
(iv) otherwise to assure or hold harmless the holder of such primary obligation against loss in respect thereof; provided, however, that the term “Contingent Obligation” shall not include endorsements of instruments for
deposit or collection in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is
made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is required to perform thereunder) as determined by such Person in good faith. 

“Converted Loan” shall mean with respect to any Lender on the Restatement Effective Date, the portion, if any, of such
Lender’s Original Loan that such Lender has consented to have converted to an Extended Loan on the Restatement Effective Date pursuant to Section 2.01(a). 
 “Credit Documents” shall mean this Agreement, the ABL/Term Loan Intercreditor Agreement and each Note, each Security Document, each Joinder Agreement, each Guarantee and each Incremental Term
Commitment Agreement. 
 “Credit Event” shall mean the making of any Loan. 

“Credit Party” shall mean the Company and each Subsidiary Guarantor. 

“DBTCA” shall mean Deutsche Bank Trust Company Americas, in its individual capacity, and any successor thereto by merger.

 “Debt Agreements” shall mean all agreements evidencing or relating to material Indebtedness of the Company or any
of its Subsidiaries to the extent such agreement is to remain outstanding after giving effect to the incurrence of the Loans and the ABL Loans on the Restatement Effective Date. 

“Default” shall mean any event, act or condition which with notice or lapse of time, or both, would constitute an Event of
Default. 
 “Defaulting Lender” shall mean any Lender that (a) has failed to pay over to the Administrative Agent
or any other Lender any amount (other than a de minimis amount) required to be paid by it hereunder within three Business Days of the date when due, unless the subject of a good faith dispute, or (b) with respect to which a Bankruptcy Event has
occurred (or with respect to any holding company parent of such Lender a Bankruptcy Event has occurred). 
 “Deposit
Accounts” shall mean all “deposit accounts” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 
 “Designated Noncash Consideration” shall mean the Fair Market Value of non-cash consideration received by the Company or one of its Subsidiaries in connection with an Asset Sale that is
designated as Designated Noncash Consideration pursuant to an officers’ certificate executed by an Authorized Officer of the Company setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection
with a subsequent sale of such Designated Noncash Consideration. 

  
 -11-

 “Disqualified Stock” shall mean, with respect to any Person, any Capital Stock
which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event: 
 (1)       matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise; or 

(2)       is redeemable at the option of the holder thereof, in whole or in part, in
each case on or prior to the date that is 91 days after the latest then applicable Final Maturity Date and for consideration that is not Qualified Stock; 
 provided that any class of Capital Stock of such Person that, by its terms, authorizes such Person to satisfy in full its obligations with respect to the payment of dividends or upon maturity,
redemption (pursuant to a sinking fund or otherwise) or repurchase thereof or otherwise by the delivery of Qualified Stock, and that is not convertible, puttable or exchangeable for Disqualified Stock or Indebtedness, will not be deemed to be
Disqualified Stock so long as such Person satisfies its obligations with respect thereto solely by the delivery of Qualified Stock; provided, further, that any Capital Stock that would not constitute Disqualified Stock but for
provisions thereof giving holders thereof (or the holders of any security into or for which such Capital Stock is convertible, exchangeable or exercisable) the right to require the Company or any Subsidiary to redeem or purchase such Capital Stock
upon the occurrence of a change in control occurring prior to the latest then applicable Final Maturity Date shall not constitute Disqualified Stock if the change in control provisions applicable to such Capital Stock are no more favorable to such
holders than the Event of Default in Section 9.10 and such Capital Stock specifically provides that the Company or such Subsidiary will not redeem or purchase any such Capital Stock pursuant to such provisions prior to the Company’s
repayment and termination of the Credit Agreement. 
 “Dividends” with respect to any Person shall mean that such
Person has declared or paid a dividend or returned any equity capital to its stockholders, members or other equity owners or authorized or made any other distribution, payment or delivery of property or cash to its stockholders, members or other
equity owners as such, or redeemed, retired, purchased or otherwise acquired, directly or indirectly, for consideration any shares of any class of its capital stock or other equity securities outstanding on or after the Restatement Effective Date
(or any options or warrants issued by such Person with respect to its capital stock or other equity securities), or set aside any funds for any of the foregoing purposes, or shall have permitted any of its Subsidiaries to purchase or otherwise
acquire for consideration any shares of any class of the capital stock or other equity securities of such Person outstanding on or after the Restatement Effective Date (or any options or warrants issued by such Person with respect to its capital
stock or other equity securities). 
 “Documents” shall mean and include the Refinancing Documents, the ABL Credit
Documents and the Credit Documents. 
 “Dollars” and the sign “$” shall each mean freely transferable lawful
money of the United States. 
 “Domestic Subsidiary” shall mean each Subsidiary of the Company that is incorporated or
organized in the United States or any State or territory thereof. 
 “ECF Percentage” shall mean (a) if the
Senior Secured Net Leverage Ratio as of the end of the respective Excess Cash Payment Period is greater than or equal to 3.00:1.00, 50%, (b) if such Senior Secured Net Leverage Ratio is less than 3.00:1.00 but greater than or equal to
2.50:1.00, 25% and (c) if such Senior Secured Net Leverage Ratio is less than 2.50:1.00, 0%. Notwithstanding the foregoing, the 

  
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ECF Percentage shall be 50% during any period in which there exists or is continuing a Default or an Event of Default. 
 “Eligible Transferee” shall mean and include a commercial bank, financial institution or other “accredited investor” (as defined in Regulation D of the Securities Act), but in any
event excluding the Company and its Subsidiaries and Affiliates. 
 “Embargoed Person” shall mean any party that
(i) is publicly identified on the most current list of “Specially Designated Nationals and Blocked Persons” published by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or resides, is organized
or chartered, or has a place of business in a country or territory subject to OFAC sanctions or embargo programs or (ii) is publicly identified as prohibited from doing business with the United States under the International Emergency Economic
Powers Act, the Trading With the Enemy Act, or any other law. 
 “Employee Benefit Plan” shall mean an employee
benefit plan (as defined in Section 3(3) of ERISA) that is maintained or contributed to by the Company or any Subsidiary (or with respect to an employee benefit plan subject to Title IV of ERISA, any ERISA Affiliate) or with respect to which
the Company or any Subsidiary could incur liability. 
 “Environment” shall mean ambient air, indoor air, surface
water, groundwater, drinking water, soil, surface and subsurface strata, an natural resources such as wetlands, flora and fauna. 
 “Environmental Claim” shall mean any and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of non-compliance or violation, investigations
or proceedings arising under any Environmental Law (hereafter “Claims”) or any permit issued under any such law, including, without limitation, (a) any and all Claims by governmental or regulatory authorities for enforcement, cleanup,
removal, response, remedial or other actions, damages, penalties or fines pursuant to any applicable Environmental Law, and (b) any and all Claims by any third party seeking damages, contribution, indemnification, cost recovery, compensation or
injunctive relief resulting from Hazardous Materials or arising from alleged injury or threat of injury to health, safety or the Environment. 
 “Environmental Law” shall mean any and all Federal, state, provincial, foreign or local statute, law, rule, regulation, ordinance, code, legally binding guideline or written policy and rule of
common law now or hereafter in effect and in each case as amended, and any legally binding judicial or administrative interpretation thereof, including any judicial or administrative order, consent decree or judgment relating to the Environment,
employee health or safety or Hazardous Material, including, without limitation, CERCLA; RCRA; the Federal Water Pollution Control Act, 33 U.S.C. § 2601 et seq.; the Clean Air Act, 42 U.S.C. § 7401 et seq.; the
Safe Drinking Water Act, 42 U.S.C. § 3803 et seq.; the Oil Pollution Act of 1990, 33 U.S.C. § 2701 et seq.; the Emergency Planning and the Community Right-to-Know Act of 1986, 42 U.S.C. § 11001 et
seq.; the Hazardous Material Transportation Act, 49 U.S.C. § 1801 et seq.; the Occupational Safety and Health Act, 29 U.S.C. § 651 et seq.; any state, local or foreign counterparts or equivalents, in each
case as amended. 
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to
time, and the regulations promulgated and rulings issued thereunder. Section references to ERISA are to ERISA, as in effect on the date of this Agreement and any subsequent provisions of ERISA, amendatory thereof, supplemental thereto or substituted
therefor. 
 “ERISA Affiliate” shall mean any trade or business (whether or not incorporated) that, taken together
with the Company, is treated as a single employer under Section 414(b) or (c) of the Code 

  
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or, solely for the purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Sections 414(m) and 414(o) of the Code. 

“ERISA Event” shall mean (a) any “reportable event,” as defined in Section 4043(c) of ERISA or the
regulations issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived by regulation); (b) with respect to a Plan, the failure to satisfy the minimum funding standard of Section 412 of the
Code and Section 302 of ERISA, whether or not waived; (c) the filing pursuant to Section 412 of the Code of an application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Company or any
of its ERISA Affiliates of any liability to the PBGC under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by the Company or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an
intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan or the occurrence of any event or condition which could reasonably be expected to constitute grounds under ERISA for the termination of or the appointment of a
trustee to administer any Plan; (f) the incurrence by the Company or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; (g) the receipt by the Company or
any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan, from the Company or any ERISA Affiliate of any notice, concerning the imposition of “withdrawal liability” (within the meaning of Section 4201 of ERISA) or a
determination that a Multiemployer Plan is or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA; (h) the failure to make by its due date a required contribution under Section 430(j) of the Code with
respect to a Plan or the failure to make any required contribution to a Multiemployer Pension Plan; (i) the “substantial cessation of operations” within the meaning of Section 4062(e) of ERISA with respect to a Pension Plan; or
(j) the occurrence of a nonexempt prohibited transaction (within the meaning of Section 4975 of the Code or Section 406 of ERISA) which could result in liability to the Company or any ERISA Affiliate. 

“Eurodollar Loan” shall mean each Loan designated as such by the Company at the time of the incurrence thereof or conversion
thereto. 
 “Eurodollar Rate” shall mean, with respect to any Eurodollar Loan for any Interest Period, (a) the
rate offered quotation to first-class banks in the London interbank Eurodollar market by the Administrative Agent for Dollar deposits of amounts in immediately available funds comparable to the outstanding principal amount of the Eurodollar Loan of
the Administrative Agent (in its capacity as a Lender) at approximately 11:00 A.M., London time, two Business Days prior to the commencement of such Interest Period, as the rate for Dollar deposits with a maturity comparable to such Interest Period;
provided that in the event that such rate is not available at such time for any reason, then this component of the “Eurodollar Rate” with respect to such Eurodollar Loan for such Interest Period shall be the offered quotation to
first-class banks in the interbank Eurodollar market by DBTCA for Dollar deposits of amounts in immediately available funds comparable to the outstanding principal amount of the Eurodollar Loan of DBTCA with maturities comparable to the Interest
Period applicable to such Eurodollar Loan commencing two Business Days thereafter as of 11:00 A.M. (London time) on the date which is two Business Days prior to the commencement of such Interest Period; divided (and rounded off to the nearest 1/1000
of 1%) by (b) a percentage equal to 100% minus the then stated maximum rate of all reserve requirements (including, without limitation, any marginal, emergency, supplemental, special or other reserves required by applicable law) applicable to
any member bank of the Federal Reserve System in respect of Eurocurrency funding or liabilities as defined in Regulation D (or any successor category of liabilities under Regulation D); provided, further, that the Eurodollar Rate shall
not be less than 1.75%. 
 “Event of Default” shall have the meaning provided in Section 9. 

  
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 “Excess Cash Flow” shall mean, for any period, the difference between (a) the
sum of (i) Consolidated EBITDA for such period and (ii) the decrease, if any, in Adjusted Working Capital from the first day to the last day of such period, and (b) the sum of (i) an amount equal to the amount of Capital
Expenditures (but excluding Capital Expenditures financed with equity or Indebtedness (other than with ABL Loans)) made during such period, (ii) without duplication of amounts deducted under preceding clause (b)(i), the amounts expended by the
Company and its Subsidiaries in respect of Permitted Acquisitions (but excluding Permitted Acquisitions financed with equity or Indebtedness other than with Loans or ABL Loans), (iii) the aggregate amount of permanent principal payments of
Indebtedness of the Company and its Subsidiaries (but excluding repayments of (A) Indebtedness made with the proceeds of equity or with other Indebtedness (other than with the Loans), (B) Loans; provided that repayments of the Loans
shall be deducted in determining Excess Cash Flow if such repayments were made pursuant to regularly scheduled mandatory amortization payments thereof, and (C) ABL Loans), during such period, (iv) the increase, if any, in Adjusted Working
Capital from the first day to the last day of such period, (v) an amount of cash spent during such period with respect to expenses accrued on the Company’s balance sheet in connection with the Transaction or a Permitted Acquisition including
purchase accounting reserves, (vi) the aggregate amount of Dividends paid during such period under Section 8.03(iii), (vii) cash taxes paid by the Company and its Subsidiaries, (viii) reductions in purchase accounting reserves or
reductions in other long term liabilities on the balance sheet of the Company for each Excess Cash Payment Period; and (ix) Consolidated Cash Interest Expense for such period. 

“Excess Cash Payment Date” shall mean the date occurring 90 days after the last day of each fiscal year of the Company
(beginning with its fiscal year ended November 30, 2011). 
 “Excess Cash Payment Period” shall mean, with
respect to the repayment required on each Excess Cash Payment Date the immediately preceding fiscal year of the Company (beginning with its fiscal year ending November 30, 2011). 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 “Existing Indebtedness” shall mean the Company Existing Indebtedness and the Acquired Business Existing
Indebtedness. 
 “Existing Lender” shall mean each Lender under this Agreement that was a “Lender” under and
as defined in the Original Credit Agreement immediately prior to Restatement Effective Date. 
 “Existing Mortgaged
Properties” shall have the meaning provided in Section 5(s). 
 “Expenses” shall mean all present and future
reasonable and invoiced expenses incurred by or on behalf of the Administrative Agent or the Collateral Agent in connection with this Agreement, any other Credit Document or otherwise in its capacity as the Administrative Agent under this Agreement
or the Collateral Agent under any Security Document, whether incurred heretofore or hereafter, which expenses shall include, without limitation, the cost of record searches, the reasonable fees and expenses of attorneys and paralegals, all
reasonable and invoiced costs and expenses incurred by the Administrative Agent (and the Collateral Agent) in opening lender accounts, depositing checks, electronically or otherwise receiving and transferring funds, and any other charges imposed on
the Administrative Agent (and the Collateral Agent) due to insufficient funds of deposited checks and the standard fee of the Administrative Agent (and the Collateral Agent) relating thereto, reasonable fees and expenses of accountants, appraisers
or other consultants, experts or advisors employed or retained by the Administrative Agent and the Collateral Agent, fees and taxes related to the filing of financing statements, costs of preparing and recording any other Credit Documents, all
expenses, costs and fees set forth in this Agreement and the 

  
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other Credit Documents, all other fees and expenses required to be paid pursuant to any other letter agreement and all fees and expenses incurred in connection with releasing Collateral and the
amendment or termination of any of the Credit Documents. 
 “Extended Loan” shall mean an Original Loan that is
converted to an Extended Loan on the Restatement Effective Date pursuant to Section 2.01(a). 
 “Fair Market
Value” shall mean, with respect to any asset, the price (after taking into account any liabilities relating to such assets) that would be negotiated in an arm’s-length transaction for cash between an willing seller and a willing and able
buyer, neither of which is under any compulsion to complete the transaction. Fair Market Value (other than of any asset with a public trading market) in excess of $25,000,000 shall be determined by the Board of Directors of the Company acting
reasonably and in good faith and shall be evidenced by a board resolution delivered to the Administrative Agent. 
 “Fair
Value” shall mean the amount at which the assets (both tangible and intangible), in their entirety, of the Company and its Subsidiaries (taken as a whole and determined on an enterprise basis), would change hands between a willing buyer and a
willing seller, within a commercially reasonable period of time, each having reasonable knowledge of the relevant facts, with neither being under any compulsion to act. 
 “Federal Funds Rate” shall mean for any period, a fluctuating interest rate equal for each day during such period to the weighted average of the rates on overnight Federal Funds transactions
with members of the Federal Reserve System arranged by Federal Funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so
published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Administrative Agent from three Federal Funds brokers of recognized standing selected by the Administrative Agent.

 “Fees” shall mean all amounts payable pursuant to or referred to in Section 3.01. 

“Final Maturity Date” shall mean (a) in respect of the Loans, May 31, 2017 and (b) in respect of any Incremental
Loans, May 31, 2017 or such later date as specified in the respective Incremental Term Commitment Agreement. 
 “First
Priority” shall mean, with respect to any Lien purported to be created on any Collateral pursuant to any Security Document, that such Lien is prior in right to any other Lien thereon, other than any Permitted Liens (excluding Permitted Liens as
described in clause (y) of Section 8.01(v), but taking into account the relative priorities set forth in the ABL/Term Loan Intercreditor Agreement) applicable to such Collateral which as a matter of law (and giving effect to any actions
taken pursuant to the last paragraph of Section 8.01) have priority over the respective Liens on such Collateral created pursuant to the relevant Security Document. 
 “Flood Hazard Property” means a Mortgaged Property and/or an Additional Mortgaged Property located in an area designated by the Federal Emergency Management Agency as having flood or mudslide
hazards. 
 “Foreign Holdco” means Decorative Products Thailand, Inc., OMNOVA Wallcovering (USA) Inc. and any other
Subsidiary which has no material assets other than the stock of Subsidiaries that are CFCs (which shall be indicated as a “Foreign Holdco” on the Joinder Agreement, perfection certificate or a perfection certificate supplement, when
required to be delivered), in all cases provided that and so long as Decorative Products Thailand, Inc., OMNOVA Wallcovering (USA) Inc. or such other Subsidiary 

  
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shall not engage in any business or activity other than (a) the ownership of CFCs, (b) maintaining its corporate existence, (c) participating in tax, accounting and other
administrative activities as the parent of a CFC, (d) the execution and delivery of the Loan Documents to which it is a party and the performance of its obligations thereunder, (e) the execution and delivery of a guaranty of the ABL
Facility (provided that if the guaranty of such Foreign Holdco of the Obligations is limited then the guaranty of the ABL Facility will be limited in substantially the same manner) and (f) activities incidental to the businesses or activities
described in clauses (a) through (e) above. 
 “Foreign Pension Plan” shall mean any plan, fund (including
without limitation, any superannuation fund) or other similar program established or maintained outside the United States by the Company or any Subsidiary primarily for the benefit of employees of the Company or any Subsidiary residing outside the
United States, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or
the Code. 
 “Foreign Subsidiary” shall mean each Subsidiary of the Company that is not a Domestic Subsidiary.

 “GAAP” shall mean generally accepted accounting principles in the United States as in effect from time to time;
provided that determinations in accordance with GAAP for purposes of the Applicable Margins and Sections 4.02 and 8, and for all purposes of determining the Interest Coverage Ratio, Net Leverage Ratio and Senior Secured Net Leverage Ratio,
including defined terms as used therein, are subject (to the extent provided therein) to Section 11.07(a). 

“Governmental Authority” shall mean the government of the United States, any other nation or any political subdivision thereof,
whether state, provincial 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. 
 “Guarantee” or “Guarantees” shall mean and include the Subsidiary Guarantee
executed by the Domestic Subsidiaries of the Company. 
 “Guaranteed Obligations” shall have the meaning provided in
the Subsidiary Guarantees. 
 “Guarantor” shall mean each Subsidiary Guarantor. 

“Hazardous Material” shall mean (a) any petrochemical or petroleum products, radioactive materials, asbestos and asbestos
containing materials, urea formaldehyde foam insulation, polychlorinated biphenyls, and radon gas; and (b) any chemicals, materials, substances, wastes, contaminants or pollutants in any form regulated under any applicable Environmental Law.

 “Inactive Subsidiary” shall mean any Subsidiary of the Company that does not have any assets in excess of $100,000
or has not had revenues in excess of $100,000 for the Test Period then most recently ended. 
 “Incremental Commitment
Requirements” shall mean, with respect to any provision of an Incremental Term Commitment on a given Incremental Term Commitment Date, the satisfaction of each of the following conditions on or prior to the effective date of the respective
Incremental Term Commitment Agreement: (a) no Default or Event of Default then exists or would result therefrom (for purposes of such determination, assuming the relevant Incremental Loans in an aggregate principal amount equal to the full
amount of Incremental Term Commitments then provided had been incurred, and the proposed 

  
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Permitted Acquisition (if any) to be financed with the proceeds of such Incremental Loans had been consummated, on such date of effectiveness) and all of the representations and warranties
contained herein and in the other Credit Documents are true and correct in all material respects at such time (unless stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all
material respects as of such earlier date); (b) the delivery by the Company to the Administrative Agent of an officer’s certificate executed by an Authorized Officer of the Company and certifying as to compliance with preceding clause (a);
(c) the delivery by the Company to the Administrative Agent of an acknowledgement in form and substance reasonably satisfactory to the Administrative Agent and executed by each Subsidiary Guarantor, acknowledging that such Incremental Term
Commitment and all Incremental Loans subsequently incurred pursuant to such Incremental Term Commitment shall constitute (and be included in the definition of) “Guaranteed Obligations” under the Subsidiaries Guarantee; (d) the
delivery by the Company to the Administrative Agent of an opinion or opinions, in form and substance reasonably satisfactory to the Administrative Agent, from counsel to the Credit Parties reasonably satisfactory to the Administrative Agent and
dated such date, covering such of the matters set forth in the opinions of counsel delivered to the Administrative Agent on the Restatement Effective Date pursuant to Section 5.01(c) as may be reasonably requested by the Administrative Agent,
and such other matters incident to the transactions contemplated thereby as the Administrative Agent may reasonably request; (e) the delivery by the Company and the other Credit Parties to the Administrative Agent of such other officers’
certificates, board of director resolutions and evidence of good standing as the Administrative Agent shall reasonably request; and (f) the completion by the Company and the other Credit Parties of such other actions as the Administrative Agent
may reasonably request in connection with such Incremental Term Commitment. 
 “Incremental Loans” shall mean any
loans incurred pursuant to an Incremental Term Commitment pursuant to Section 2.15. 
 “Incremental Scheduled
Repayment” shall have the meaning provided in Section 4.02(a)(ii). 
 “Incremental Scheduled Repayment Date”
shall have the meaning provided in Section 4.02(a)(ii). 
 “Incremental Term Commitment” shall mean, for any
Lender or prospective Lender, any commitment by such Lender or prospective Lender to make Incremental Loans to the Company as agreed to by such Lender in the respective Incremental Term Commitment Agreement delivered pursuant to Section 2.15.

 “Incremental Term Commitment Agreement” shall mean each Incremental Term Commitment Agreement in the form of
Exhibit M (appropriately completed) executed in accordance with Section 2.15. 
 “Incremental Term Commitment
Date” shall mean each date upon which an Incremental Term Commitment under an Incremental Term Commitment Agreement becomes effective, and the respective Incremental Loans are incurred, as provided in Section 2.15(b). 

“Incremental Term Lender” shall have the meaning specified in Section 2.15(b). 

“Indebtedness” shall mean, as to any Person, without duplication, (i) all indebtedness of such Person for borrowed money
or for the deferred purchase price of property or services, (ii) the maximum amount available to be drawn under all letters of credit issued for the account of such Person and all unpaid drawings in respect of such letters of credit,
(iii) all Indebtedness of the types described in clause 

  
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(i), (ii), (iv), (v), (vi) or (vii) of this definition secured by any Lien on any property owned by such Person, whether or not such Indebtedness has been assumed by such Person,
(iv) the aggregate amount required to be capitalized under leases under which such Person is the lessee, (v) all obligations of such person to pay a specified purchase price for goods or services, whether or not delivered or accepted,
i.e., take-or-pay and similar obligations, (vi) all Contingent Obligations of such Person in respect of Indebtedness of the types described in clauses (i)–(v) above or (vii) below, and (vii) all net obligations or exposure
under any Interest Rate Protection Agreement or Other Hedging Agreement or under any similar type of agreement or arrangement; provided that Indebtedness shall not include (a) payables and accrued expenses, in each case arising in the
ordinary course of business or (b) other obligations with respect to noncompete and consulting agreements which are or were entered into in connection with a Permitted Acquisition. 

“Intercompany Loans” shall have the meaning provided in Section 8.05(vii). 

“Intercompany Note” shall mean promissory notes, substantially in the form of Exhibit I evidencing Intercompany Loans.

 “Interest Coverage Ratio” shall mean for any Test Period, the ratio of Consolidated EBITDA for such Test Period to
Consolidated Interest Expense for such Test Period. All calculations of the Interest Coverage Ratio shall be made on a pro forma basis. 
 “Interest Determination Date” shall mean, with respect to any Eurodollar Loan, the second Business Day prior to the commencement of any Interest Period relating to such Eurodollar Loan.

 “Interest Period” shall have the meaning provided in Section 2.09. 

“Interest Rate Protection Agreement” shall mean any interest rate swap agreement, interest rate cap agreement, interest collar
agreement, interest rate hedging agreement, interest rate floor agreement or other similar agreement or arrangement. 

“Joinder Agreement” shall mean a Joinder Agreement substantially in the form of Exhibit N (appropriately completed).

 “Joint Lead Arrangers” shall mean Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC. 

“Lender” shall mean each Person listed on Schedule 1.01(b), as well as any Person which becomes a “Lender” hereunder
pursuant to Section 2.15 or 11.04(b). 
 “Lender Addendum” shall mean an Addendum, in the form of Exhibit O,
appropriately completed and executed and delivered by a Lender to the Administrative Agent pursuant to which such Lender (x) if a Lender party to the Original Credit Agreement, (i) consents to the amendment and restatement of the Original
Credit Agreement pursuant to this Agreement, (ii) to the extent indicated in such Addendum, elects to convert all or a portion of its Original Loans to Extended Loans and (iii) to the extent indicated in such Addendum, elects to provide a
Commitment in respect of New Loans and (y) if otherwise, becomes a party hereto and elects to provide a Commitment in respect of New Loans. 
 “Lending Affiliate” shall mean, with respect to any Person, any other Person (i) directly or indirectly controlling (including, but not limited to, all directors, officers and partners of
such Person), controlled by, or under direct or indirect common control with, such Person or (ii) that directly or indirectly owns more than 50% of any class of the voting securities or capital stock of or equity interests in

  
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such Person. A Person shall be deemed to control another Person if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such
other Person, whether through the ownership of voting securities, by contract or otherwise. 
 “Lien” shall mean any
mortgage, deed of trust, deed to secure debt, leasehold mortgagee, leasehold deed of trust, leasehold deed to secure debt, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other) or other security agreement or
preferential arrangement of any kind or nature whatsoever (including, without limitation, any conditional sale or other title retention agreement, and any lease having substantially the same effect as any of the foregoing). 

“Loan” shall have the meaning provided in Section 2.01; provided that following any Incremental Term Commitment
Date the term “Loans” shall include any Incremental Loans. 
 “Margin Stock” shall have the meaning provided
in Regulation U. 
 “Material Adverse Effect” shall mean a material adverse change in, or a material adverse effect
upon, the operations, business, condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole, the Collateral or any guarantor of the Obligations; (b) a material impairment of the Company or any Affiliate of the
Company to perform under any Credit Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against the Company of any Credit Document to which it is a party. 

“Minimum Amount” shall mean (i) with respect to Types of Loans maintained as Euro-dollar Loans, $5,000,000 (and multiples
of $1,000,000 in excess thereof or as the Administrative Agent may otherwise agree) and (ii) with respect to Types of Loans maintained as Base Rate Loans, $1,000,000 (and multiples of $1,000,000 in excess thereof or as the Administrative Agent
may otherwise agree). 
 “Moody’s” shall mean Moody’s Investors Service, Inc. 

“Mortgage” or “Mortgages” shall mean a mortgage, deed of trust or deed to secure debt, or similar documents and
corresponding UCC fixture filings in form and substance reasonably satisfactory to the Collateral Agent (as may be amended, modified or supplemented from time to time in accordance with the terms hereof and thereof), and, after the execution and
delivery thereof, shall include each Additional Mortgage. 
 “Mortgage Policies” shall have the meaning provided in
Section 5(r) and, after the execution and delivery of any Additional Mortgage, shall include each Mortgage Policy delivered in connection therewith pursuant to Section 7.11. 

“Mortgaged Properties” shall mean the Existing Mortgaged Properties and the New Mortgaged Properties, collectively, and after
the execution and delivery of any Additional Mortgage, shall include the respective Additional Mortgaged Property. 

“Multiemployer Plan” shall mean any multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Net Cash Proceeds” shall mean (a) with respect to any Asset Sale, the Cash Proceeds resulting therefrom net of
(x) cash expenses of sale (including brokerage fees, if any, and payment of principal, premium and interest of Indebtedness (other than the Loans) required to be repaid as a result of such Asset Sale) and (y) incremental Federal, state and
local taxes paid or payable as a result thereof and (b) with respect to any Recovery Event, the cash insurance proceeds, condemnation awards and other 

  
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compensation received in respect thereof, net of all reasonable costs and expenses incurred in connection with the collection of such proceeds, awards or other compensation in respect of such
Recovery Event. 
 “Net Leverage Ratio” shall mean, on any date of determination, the ratio of (x) Consolidated
Net Debt on such date to (y) Consolidated EBITDA for the Test Period most recently ended on or prior to such date. All calculations of the Net Leverage Ratio shall be made on pro forma basis. 

“New Loan” shall have the meaning provided in Section 2.01(b). 

“New Mortgaged Properties” shall have the meaning provided in Section 5(r). 

“Non-Guarantor Subsidiary” shall mean Muraspec N.A. LLC and OMNOVA Overseas, Inc. (to the extent such entities continue to have
de minimis assets). 
 “Note” shall have the meaning provided in Section 2.05(a). 

“Notice of Borrowing” shall have the meaning provided in Section 2.03(a). 

“Notice of Conversion” shall have the meaning provided in Section 2.06. 

“Notice Office” shall mean the office of the Administrative Agent located at 5022 Gate Parkway, Jacksonville, Florida 32256,
Attention: Melissa Brennan or such other office or person as the Administrative Agent may hereafter designate in writing as such to the other parties hereto. 
 “Obligations” shall mean all amounts owing to the Administrative Agent, the Collateral Agent or any Lender pursuant to the terms of this Agreement or any other Credit Document. 

“Original Closing Date” shall mean May 22, 2007. 
 “Original Loan” shall mean each “Loan” outstanding under the Original Credit Agreement immediately prior to the effectiveness of this Agreement on the Restatement Effective Date;
provided that upon the effectiveness of this Agreement on the Restatement Effective Date, each Converted Loan shall cease to be an Original Loan. 
 “Organizational Documents” shall mean, with respect to any Person, (i) in the case of any corporation, the certificate of incorporation and by-laws (or similar documents) of such Person,
(ii) in the case of any limited liability company, the certificate of formation and operating agreement (or similar documents) of such Person, (iii) in the case of any limited partnership, the certificate of formation and limited
partnership agreement (or similar documents) of such Person, (iv) in the case of any general partnership, the partnership agreement (or similar document) of such Person and (v) in any other case, the functional equivalent of the foregoing.

 “Other Hedging Agreements” shall mean any foreign exchange contracts, currency swap agreements, commodity
agreements or other similar agreements or arrangements designed to protect against fluctuations of currency values or commodity prices. 
 “Participant Register” shall have the meaning provided in Section 11.04(a). 
 “Patriot Act” shall have the meaning provided in Section 11.15. 

“Payment Office” shall mean in respect of all Loans made to the Company, Fees and, all other amounts owing under this
Agreement, the office of the Administrative Agent located at 5022 Gate 

  
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Parkway, Jacksonville, Florida 32256, Attention: Melissa Brennan, or such other office as the Administrative Agent may hereafter designate in writing as such to the other parties hereto.

 “PBGC” shall mean the Pension Benefit Guaranty Corporation established pursuant to Section 4002 of ERISA, or
any successor thereto. 
 “Pension Plan” means a Plan that is also a pension plan (as defined in Section 3(2) of
ERISA) subject to Title IV of ERISA which the Company or any ERISA Affiliate sponsors, maintains, or to which it makes, is making, or is obligated to make contributions, or in the case of a Multiemployer Plan has made contributions at any time
during the immediately preceding five (5) plan years. 
 “Permitted Acquisition” shall mean the acquisition by
the Company of all or substantially all of the assets of a Person constituting, or more than 50% of the equity securities of a Person engaged in, a business (the “Target”), in each case subject to the satisfaction of the following
conditions: 
 (i)       such Permitted Acquisition shall only involve a
business, or those assets of a business, in the lines of business conducted by the Company and its Subsidiaries on the Restatement Effective Date and any business similar, ancillary or related thereto or which constitutes a reasonable extension or
expansion thereof, including in connection with the Company’s existing and future technology, trademarks and patents, and which business would not subject the Administrative Agent or any Lender to regulatory or third party approvals in
connection with the exercise of its rights and remedies under this Agreement or any other Credit Documents other than approvals applicable to the exercise of such rights and remedies with respect to the Company prior to such Permitted Acquisition
and other than as required by local law in connection with the exercise of rights and remedies applicable to Capital Stock or other securities of Foreign Subsidiaries pledged to the Collateral Agent for the benefit of the Lenders; 

(ii)       such Permitted Acquisition shall be consensual and shall have been approved
by the Target’s board of directors; 
 (iii)       no additional
Indebtedness shall be incurred, assumed or otherwise be reflected on a consolidated balance sheet of the Company and the Target after giving effect to such Permitted Acquisition, except ordinary course payables, accrued expenses and unsecured
Indebtedness of Target or as otherwise permitted by Section 8.04; and 

(iv)       the Target shall have positive Consolidated EBITDA (substituting the Target
for the “Company” in the definition thereof) for the trailing twelve-month period preceding the date of the Permitted Acquisition, as determined based upon the Target’s financial statements for its most recently completed fiscal year
and its most recent interim financial period completed within sixty (60) days prior to the date of consummation of such Permitted Acquisition; provided that the foregoing limitations of this clause (iv) shall not apply to Permitted
Acquisitions the consideration for which does not exceed $10,000,000 in the aggregate in any fiscal year. 
 Notwithstanding anything to the
contrary contained in the immediately preceding sentence, an acquisition shall be a Permitted Acquisition only if all requirements of Section 8.05(xv) are met with respect thereto. 

“Permitted Debt” shall mean subordinated or senior unsecured Indebtedness of the Company, provided that (a) the
terms of such Indebtedness do not provide for any scheduled repayment, mandatory redemption, sinking fund obligation or other payment of principal prior to the maturity date of the Loans, other than customary offers to purchase upon a change of
control, asset sale or casualty or condemnation event and customary acceleration rights upon an event of default and (b) the covenants, events 

  
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of default, guarantees and other terms for such Indebtedness (provided that such Indebtedness shall have interest rates and redemption premiums determined by the board of directors of the
Company to be market rates and premiums at the time of incurrence of such Indebtedness), taken as a whole, are determined by the board of directors of the Company to be market terms on the date of incurrence and in any event are not more restrictive
on the Company and the Subsidiaries, or materially less favorable to the Lenders, than the terms of the Credit Documents and do not require the maintenance or achievement of any financial performance standards other than as a condition to taking
specified actions, provided that a certificate of an Authorized Officer delivered to the Administrative Agent at least five Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the
material terms and conditions of such Indebtedness and drafts of the documentation relating thereto, stating that the Company has determined in good faith that such terms and conditions satisfy the foregoing requirement shall be conclusive evidence
that such terms and conditions satisfy the foregoing requirement unless the Administrative Agent notifies the Company within such five Business Day period that it disagrees with such determination (including a reasonable description of the basis
upon which is disagrees). 
 “Permitted Dividend Amount” shall mean, at any time, an amount equal to the sum of (a)
$40,000,000, plus (b) if positive, an amount equal to 50% of Consolidated Net Income for the period from the Restatement Effective Date to the end of the most recently ended fiscal quarter for which financial statements have been
delivered pursuant to Section 7.01(a) or (b), minus if negative, 100% of such loss for such period. 

“Permitted Encumbrance” shall mean, with respect to any Mortgaged Property, such exceptions to title as are set forth in the
title insurance policy or title commitment delivered with respect thereto, all of which exceptions must be acceptable to the Collateral Agent and Administrative Agent in their reasonable discretion. 

“Permitted Liens” shall have the meaning provided in Section 8.01. 

“Permitted Refinancing ABL Credit Facility” shall mean a credit facility entered into by one or more Credit Parties that
refinances in full the ABL Loans and ABL Letters of Credit, so long as (a) such credit facility does not contain mandatory repayment provisions other than those of the type set forth in the ABL Credit Agreement and so long as same are no more
restrictive on the Company and its Subsidiaries than those contained in the ABL Credit Agreement, (b) such refinancing does not (i) increase the available credit to an amount in excess of the amount permitted by clause (vii) of
Section 8.04 or (ii) provide for any guarantees or security other than guarantees from one or more Guarantors and security in all or any portion of the Collateral, (c) to the extent then in effect, such credit facility is subject to
the ABL/Term Loan Intercreditor Agreement, and (d) the other terms and conditions thereof, when taken as a whole, are no more restrictive on the Company and its Subsidiaries than those contained in the ABL Credit Agreement. 

“Permitted Refinancing Indebtedness” shall mean Indebtedness of the Company or any Subsidiary issued or incurred (including by
means of the extension or renewal of existing Indebtedness) to refinance, refund, extend or renew existing Indebtedness (“Refinanced Indebtedness”); provided that (a) the principal amount (or accreted value, if applicable) of such
refinancing, refunding, extending or renewing Indebtedness is not greater than the sum of (i) the principal amount (or accreted value, if applicable) of such Refinanced Indebtedness plus (ii) an amount equal to unpaid accrued interest and
premium thereon and fees and expenses reasonably incurred in connection with such refinancing, refunding, extension or renewal, (b) such refinancing, refunding, extending or renewing Indebtedness has a final maturity that is no earlier than the
final maturity of, and a weighted average life to maturity that is no shorter than the remaining weighted average life of, such Refinanced Indebtedness, (c) if such Refinanced Indebtedness or any Guarantees thereof are subordinated to the
Obligations, such refinancing, refunding, extending 

  
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or renewing Indebtedness and any Guarantees thereof remain so subordinated on terms no less favorable to the Lenders and (d) such refinancing, refunding, extending or renewing Indebtedness
does not contain mandatory redemption or prepayment rights on the part of the borrower or issuer of such Indebtedness or redemption or prepayment rights exercisable by the holder of such Indebtedness, that in either case would require payment of
greater amounts or at earlier dates by the borrower or issuer of such Indebtedness than the Indebtedness so refinanced, refunded, extended or renewed; provided, further, that Permitted Refinancing Indebtedness shall not include
(i) Indebtedness of the Company or a Guarantor that refinances, refunds, extends or renews Indebtedness of a Subsidiary that is not a Guarantor or (ii) Indebtedness of a Subsidiary that is not a Guarantor that refinances, refunds, extends or
renews Indebtedness of the Borrower or a Guarantor. 
 “Person” shall mean any individual, partnership, joint venture,
firm, corporation, association, trust or other enterprise or any government or political subdivision or any agency, department or instrumentality thereof. 
 “Plan” shall mean any pension plan as defined in Section 3(2) of ERISA, which is maintained or contributed to by (or to which there is an obligation to contribute of) the Company or a
Subsidiary of the Company or an ERISA Affiliate, and each such plan for the five year period immediately following the latest date on which the Company, or a Subsidiary of the Company or an ERISA Affiliate maintained, contributed to or had an
obligation to contribute to such plan. 
 “Pledge Agreement” shall mean the pledge agreement substantially in the form
of Exhibit F. 
 “Pledge Agreement Collateral” shall mean all “Collateral” as defined in the Pledge
Agreement. 
 “Pledged Securities” shall have the meaning provided in the Pledge Agreement. 

“Pledgee” shall have the meaning provided in the Pledge Agreement. 

“Prime Lending Rate” shall mean the rate which DBTCA announces from time to time as its prime lending rate, the Prime Lending
Rate to change when and as such prime lending rate changes. The Prime Lending Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. DBTCA may make commercial loans or other loans at
rates of interest at, above or below the Prime Lending Rate. 
 “pro forma basis” and “pro forma effect”
shall mean on a basis in accordance with GAAP and Regulation S-X unless otherwise reasonably satisfactory to the Administrative Agent. 
 “Projections” shall mean the projections that are contained in the Confidential Information Memorandum and that were prepared by or on behalf of the Company, the Acquired Business and their
respective Subsidiaries and delivered to the Administrative Agent and the Lenders prior to the Restatement Effective Date. 

“Qualified Credit Party” shall mean the Company and each Wholly-Owned Subsidiary Guarantor. 

“Qualified Stock” shall mean any Capital Stock of the Company or a Subsidiary other than Disqualified Stock. 

  
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 “Quarterly Payment Date” shall mean the last Business Day of each February, May,
August and November. 
 “RCRA” shall mean the Resource Conservation and Recovery Act, as amended, 42 U.S.C. §
6901 et seq. 
 “Real Property” shall mean, collectively, all right, title and interest (including any
leasehold, mineral or other estate) in and to any and all parcels of or interests in real property owned, leased or operated by any person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and
appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof. 

“Recovery Event” shall mean the receipt by the Company or any of its Subsidiaries of any cash insurance proceeds or
condemnation award payable (i) by reason of theft, loss, physical destruction or damage or any other similar event with respect to any Mortgaged Property, and (ii) under any policy of insurance required to be maintained under
Section 7.03 as relating to any Mortgaged Property. 
 “Refinanced Term Loans” shall have the meaning provided in
Section 11.12(d). 
 “Refinancing” shall mean the indefeasible repayment in full of the Existing Indebtedness,
or, in the case of Converted Loans, the conversion of such Loans to Extended Loans pursuant Section 2.01(a) of this Agreement. 
 “Refinancing Documents” shall mean all documents entered into to effect the Refinancing. 
 “Register” shall have the meaning provided in Section 11.13. 

“Regulation D” shall mean Regulation D of the Board of Governors of the Federal Reserve System as from time to time in effect
and any successor to all or a portion thereof establishing reserve requirements. 
 “Regulation T” shall mean
Regulation T of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor to all or a portion thereof. 
 “Regulation U” shall mean Regulation U of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor to all or a portion thereof. 

“Regulation X” shall mean Regulation X of the Board of Governors of the Federal Reserve System as from time to time in effect
and any successor to all or a portion thereof. 
 “Release” shall mean any release, spill, emission, discharge,
deposit, disposal, leaking, pumping, pouring, dumping, emptying, injection or leaching into the Environment, or into, from or through any building, structure or facility. 
 “Replaced Lender” shall have the meaning provided in Section 2.13. 

“Replacement Lender” shall have the meaning provided in Section 2.13. 

“Replacement Term Loans” shall have the meaning provided in Section 11.12(d). 

  
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 “Repricing Transaction” shall mean the prepayment or refinancing of all or a
portion of the Loans with the incurrence by any Loan Party of any long-term bank debt financing incurred for the primary purpose of repaying, refinancing, substituting or replacing the Loans and having an effective interest cost or weighted average
yield (as determined by the Administrative Agent consistent with generally accepted financial practice and, in any event, excluding any arrangement or commitment fees in connection therewith) that is less than the interest rate for or weighted
average yield (as determined by the Administrative Agent on the same basis) of the Loans, including without limitation, as may be effected through any amendment to this Agreement relating to the interest rate for, or weighted average yield of, the
Loans. 
 “Required Lenders” shall mean Lenders the sum of whose outstanding Loans constitute greater than 50% of the
sum of the total outstanding Loans; provided that the Loans held or deemed held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 

“Requirements of Law” shall mean, collectively, any and all applicable requirements of any Governmental Authority including any
and all laws, judgments, orders, executive orders, decrees, ordinances, rules, regulations, statutes, case law or treaties. 

“Restatement Effective Date” shall mean the date on which the conditions set forth in Section 5 have been satisfied.

 “Returns” shall have the meaning provided in Section 6.09. 

“S&P” shall mean Standard & Poor’s Ratings Services. 

“Scheduled Repayment Dates” shall have the meaning provided in Section 4.02(a). 

“Scheduled Repayments” shall have the meaning provided in Section 4.02(a). 

“SEC” shall mean the Securities and Exchange Commission or any successor thereto. 

“Section 4.04(b)(ii) Certificate” shall have the meaning provided in Section 4.04(b). 

“Secured Creditors” shall have the meaning assigned to that term in the Security Documents. 

“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 “Security Agreement” shall have mean the security agreement substantially in the form of Exhibit G. 

“Security Agreement Collateral” shall mean all “Collateral” as defined in each Security Agreement. 

“Security Documents” shall mean the Pledge Agreement, the Security Agreement, each Mortgage, amended and restated Mortgage, and
after the execution and delivery thereof, each Additional Security Document and any other related document, agreement or grant pursuant to which the Company or any of its Subsidiaries grants, protects or continues a security interest in favor of the
Collateral Agent for the benefit of the Secured Creditors. 

  
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 “Senior Note Indenture” shall mean the Indenture, dated as of November 3,
2010, entered into by and between the Company and Wells Fargo Bank, National Association, as trustee thereunder, with respect to the Senior Notes. 
 “Senior Notes” shall mean the 7 7/8% Senior Notes due 2018 issued by the Company under the Senior Note Indenture. 
 “Senior Secured Net Leverage Ratio” shall mean, at any time, the ratio of Consolidated Net Senior Secured Debt at such time to Consolidated EBITDA for the Test Period most recently ended. All
calculations of the Senior Secured Net Leverage Ratio shall be made on pro forma basis. 
 “Stand Still
Period” shall have the meaning provided in Section 9.04. 
 “Subsidiary” of a Person means any corporation,
association, partnership, limited liability company, joint venture or other business entity of which more than fifty percent (50%) of the voting stock or other equity interests (in the case of Persons other than corporations), is owned or
controlled directly or indirectly by the Person, or one or more of the Subsidiaries of the Person, or a combination thereof. Unless the context otherwise clearly requires, references herein to a “Subsidiary” refer to a Subsidiary of the
Company; provided that except for Sections 6.14, 6.17, 7.01(h) and 7.12, any reference to Subsidiary of the Company shall exclude any entity to be formed for purposes of effecting transactions with the Asian Latex Businesses; provided
further that at any time that the foregoing entity becomes a direct or indirect Wholly-Owned Subsidiary of the Company, the Company may at its option by written notice to the Administrative Agent designate such entity a Subsidiary for all
purposes under this Agreement. 
 “Subsidiary Guarantor” shall mean each Domestic Subsidiary of the Company, whether
existing on the Original Closing Date or established, created or acquired after the Original Closing Date, unless and until such time as the respective Domestic Subsidiary is released from all of its obligations under the Subsidiary Guarantee in
accordance with the terms and provisions thereof. Notwithstanding the foregoing, no Non-Guarantor Subsidiary shall be a Subsidiary Guarantor except to the extent provided in the definition of Non-Guarantor Subsidiary. 

“Target” shall have the meaning provided in the definition of “Permitted Acquisition.” 

“Taxes” shall have the meaning provided in Section 4.04(a). 

“Test Period” shall mean, at any time, each period of four consecutive fiscal quarters of the Company then last ended (in each
case taken as one accounting period). 
 “Total Commitment” shall mean, at any time, the sum of the Commitments of
each of the Lenders at such time. 
 “Transaction” shall mean (i) the consummation of the Refinancing,
(ii) the Acquisition, (iii) the incurrence of the ABL Loans, if any, (iv) the incurrence of the New Loans hereunder and the conversion of Converted Loans to Extended Loans, in each case on the Restatement Effective Date, (v) the
internal corporate reorganization transactions described on Schedule 1.01(c) hereto and (vi) the payment of fees and expenses in connection with the foregoing. 
 “Type” shall mean the type of Loan determined with regard to the interest option applicable thereto, i.e., whether a Base Rate Loan or a Eurodollar Loan. 

  
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 “UCC” shall mean the Uniform Commercial Code as from time to time in effect in the
relevant jurisdiction. 
 “United States” and “U.S.” shall each mean the United States of America.

 “Weighted Average Life to Maturity” shall mean, when applied to any Indebtedness at any date, the number of years
obtained by dividing (i) the then outstanding principal amount of such Indebtedness into (ii) the sum of the products obtained by multiplying (x) the amount of each then remaining installment or other required scheduled payments of
principal, including payment at final maturity, in respect thereof, by (y) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment. 

“Wholly-Owned Domestic Subsidiary” shall mean any Domestic Subsidiary of the Company that is a Wholly-Owned Subsidiary.

 “Wholly-Owned Foreign Subsidiary” shall mean any Foreign Subsidiary of the Company that is a Wholly-Owned
Subsidiary. 
 “Wholly-Owned Subsidiary” shall mean, as to any Person, (i) any corporation 100% of whose capital
stock or other equity interests (other than (a) director’s qualifying shares and (b) any other shares of equity interests of a Foreign Subsidiary of the Company (not to exceed 5% of such Foreign Subsidiary’s total equity
interests (determined on a fully diluted basis) required by law to be issued to Persons other than the Company and its Wholly-Owned Subsidiaries)) is at the time owned by such Person and/or one or more Wholly-Owned Subsidiaries of such Person and
(ii) any partnership, limited liability company, association, joint venture or other entity in which such Person and/or one or more Wholly-Owned Subsidiaries of such Person has a 100% equity interest at such time (other than a portion of such
equity interest of any Foreign Subsidiary (not to exceed 5% of such Foreign Subsidiary’s total equity interest (determined on a fully diluted basis) required by law to be issued to Persons other than the Company and its Wholly-Owned
Subsidiaries). 
 “Wholly-Owned Subsidiary Guarantor” shall mean any Wholly-Owned Subsidiary of the Company which is a
Subsidiary Guarantor. 
 1.02       Effect of Restatement. All Original Loans owing by
the Company to any Person under the Original Credit Agreement that have not been paid to such Persons on or prior to the Restatement Effective Date shall continue as Loans under this Agreement and from and after the Restatement Effective Date shall
be payable as set forth herein and all interest, fees and other amounts owing in respect of such Loans shall accrue as provided under this Agreement; provided that on the Restatement Effective Date the Company shall repay the principal amount
of all Original Loans not converted to Extended Loans on the Restatement Effective Date and provided further that all accrued and unpaid interest and fees upon all Original Loans through but excluding the Restatement Effective Date
shall be paid in full on the Restatement Effective Date. This Agreement shall amend and restate the Original Credit Agreement in its entirety, with the parties hereby agreeing that there is no novation of the Original Credit Agreement and on the
Restatement Effective Date, the rights and obligations of the parties under the Original Credit Agreement shall be subsumed and governed by this Agreement. Following the Restatement Effective Date, the Original Loans shall no longer be in effect and
thereafter only Loans under this Agreement shall be outstanding until otherwise terminated in accordance with the terms hereof. 

  
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 SECTION 2.    Amount and Terms of Credit. 

2.01    The Commitments. Subject to Section 1.02 and subject to and upon the other terms and conditions
set forth herein, on the Restatement Effective Date: 
 (a)      each Converted Loan shall
automatically be converted into a loan (each, an “Extended Loan” and collectively the “Extended Loans”), in the same principal amount of such Converted Loan and of the same Type as such Converted Loan, to the Company; 

(b)      each Lender who has severally agreed to make a new term loan or loans, including Existing Lenders
who have severally agreed to increase their loans (each a “New Loan” and collectively the “ New Loans”) to the Company, which (i) shall be incurred pursuant to a single Borrowing on the Restatement Effective Date and
(ii) shall not exceed for any Lender an aggregate principal amount equal to such Lender’s New Commitment as of the Restatement Effective Date; 
 (c)      each Original Loan that is not a Converted Loan shall be repaid in full pursuant to the terms of Section 4.01 of the Original Credit Agreement; and 

(d)      the Extended Loans and the New Loans shall be treated, for all purposes under this Agreement and
under the other Credit Documents, as a single class of loans and shall collectively be referred to as “Loans.” All Loans (i) shall be made and maintained in Dollars and (ii) at the option of the Company, may be incurred and
maintained as, and/or converted into, Base Rate Loans or Eurodollar Loans. Once repaid, Loans incurred hereunder may not be reborrowed. 
 2.02    Minimum Amount of Each Borrowing. The aggregate principal amount of each Borrowing shall not be less than the Minimum Amount. More than one Borrowing may occur on the
same date, but at no time shall there be outstanding more than five Borrowings of Eurodollar Loans hereunder (or such greater number as may be acceptable to the Administrative Agent). 

2.03    Notice of Borrowing. 
 (a)      With respect to any New Loans to be made on the Restatement Effective Date, the Company shall give the Administrative Agent at its Notice Office written notice (or
telephonic notice promptly confirmed in writing) of each New Loan, which New Loans shall be of the same Type as the Extended Loans and, if the Extended Loans are Eurodollar Loans, of the same Interest Period as the Extended Loans. Each such written
notice or written confirmation of telephonic notice (each, a “Notice of Borrowing”), shall be irrevocable and shall be given by the Company in the form of Exhibit A, appropriately completed to specify (i) the date of such incurrence
(which shall be a Business Day), (ii) the aggregate principal amount of the Loans to be made and (iii) in the case of Eurodollar Loans, the initial Interest Period to be applicable thereto. The Administrative Agent shall promptly (and in
any event within one Business Day after its receipt of a Notice of Borrowing) give each Lender notice of such proposed incurrence, of such Lender’s proportionate share thereof and of the other matters required by the immediately preceding
sentence to be specified in the Notice of Borrowing. 
 (b)      Without in any way limiting the
obligation of the Company to confirm in writing any telephonic notice of any incurrence of Loans, the Administrative Agent may act without liability upon the basis of telephonic notice of such incurrence, believed by the Administrative Agent, in
good faith to be from an Authorized Officer of the Company prior to receipt of written confirmation. In each such case, the Company hereby waives the right to dispute the Administrative Agent’s record of the terms of such telephonic notice of
such incurrence of Loans absent manifest error. 

  
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 2.04    Disbursement of Funds. No later than 12:00 Noon (New York
time) on the Restatement Effective Date, each Lender will make available its pro rata portion of each such Borrowing of New Loans requested to be made on such date, in immediately available funds at the Payment Office of the
Administrative Agent. The Administrative Agent will make available to the Company at the Payment Office in immediately available funds, the aggregate of the amounts so made available by the Lenders prior to 1:00 P.M. (New York time) on such day, to
the extent of funds actually received by the Administrative Agent. Unless the Administrative Agent shall have been notified by any Lender prior to the date of Borrowing that such Lender does not intend to make available to the Administrative Agent
such Lender’s portion of any Borrowing to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing and the Administrative Agent may, in
reliance upon such assumption, make available to the Company a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such
corresponding amount on demand from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly notify the Company and the Company shall
immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover on demand from such Lender or the Company, as the case may be, interest on such corresponding amount in respect of each
day from the date such corresponding amount was made available by the Administrative Agent to the Company until the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if recovered from such
Lender, the overnight Federal Funds Rate and (ii) if recovered from the Company, the rate of interest applicable to the respective Borrowing, as determined pursuant to Section 2.08. Nothing in this Section 2.04 shall be deemed to
relieve any Lender from its obligation to make Loans hereunder or to prejudice any rights which the Company may have against any Lender as a result of any failure by such Lender to make Loans hereunder. 

2.05    Notes. 
 (a)      At the request of any Lender, the Company’s obligation to pay the principal of, and interest on, the Loans made by such Lender to the Company shall be evidenced
by a promissory note duly executed and delivered by the Company substantially in the form of Exhibit B with blanks appropriately completed in conformity herewith (each, a “Note” and, collectively, the “Notes”). 

(b)      The Note issued by the Company to any Lender shall (i) be executed by the Company,
(ii) be payable to the order of such Lender and be dated the date of issuance, (iii) be in a stated principal amount equal to the aggregate initial principal amount of the Loans of such Lender, (iv) mature on the Final Maturity Date,
(v) bear interest as provided in the appropriate clause of Section 2.08 in respect of the Base Rate Loans and Eurodollar Loans, as the case may be, evidenced thereby, (vi) be subject to voluntary prepayment as provided in Section 4.01 and
mandatory repayment as provided in Section 4.02 and (vii) be entitled to the benefits of this Agreement and the Guarantees and be secured by the Security Documents. 
 (c)      Each Lender will note on its internal records the amount of each Loan made by it and each payment in respect thereof and will prior to any transfer of any of its
Notes endorse on the reverse side thereof the outstanding principal amount of Loans evidenced thereby. Failure to make any such notation shall not affect the Company’s obligations in respect of such Loans. 

(d)      Notwithstanding anything to the contrary contained above in this Section 2.05 or elsewhere in
this Agreement, Notes shall only be delivered to Lenders which at any time specifically request the delivery of such Notes. No failure of any Lender to request, obtain, maintain or produce a Note evidencing its Loans to the Company shall affect or
in any manner impair the obligations of the 

  
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Company to pay the Loans (and all related Obligations) incurred by the Company which would otherwise be evidenced thereby in accordance with the requirements of this Agreement, and shall not in
any way affect the security or Guarantees therefor provided pursuant to any Credit Document. Any Lender which does not have a Note evidencing its outstanding Loans shall in no event be required to make the notations otherwise described in preceding
clause (c). At any time when any Lender requests the delivery of a Note to evidence any of its Loans, the Company shall (at its expense) promptly execute and deliver to the respective Lender the requested Note in the appropriate amount or amounts to
evidence such Loans. 
 2.06    Conversions. The Company shall have the option to convert on any
Business Day all or a portion equal to at least the applicable Minimum Amount of the outstanding principal amount of the Loans made to the Company pursuant to one or more Borrowings of one or more Types of Loans into a Borrowing or Borrowings of
another Type of Loan; provided that (i) except as otherwise provided in Section 2.10(b), Eurodollar Loans may be converted into Base Rate Loans only on the last day of an Interest Period applicable to the Eurodollar Loans being
converted and no such partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of such Eurodollar Loans made pursuant to a single Borrowing to less than the applicable Minimum Amount, (ii) Base Rate Loans may not be
converted into Eurodollar Loans if any Default or Event of Default is in existence on the date of the conversion (unless the Administrative Agent and the Required Lenders otherwise agree) and (iii) no conversion pursuant to this
Section 2.06 shall result in a greater number of Borrowings of Eurodollar Loans than is permitted under Section 2.02. Each such conversion (other than automatic conversions pursuant to the last paragraph of Section 2.09) shall be
effected by the Company giving the Administrative Agent at its Notice Office prior to 12:00 Noon (New York time) at least three Business Days’ prior written notice (each, a “Notice of Conversion”) specifying the Loans to be so
converted, the Borrowing or Borrowings pursuant to which such Loans were made, the date of such conversion (which shall be a Business Day) and, if to be converted into Eurodollar Loans, the Interest Period to be initially applicable thereto. The
Administrative Agent shall give each Lender prompt notice of any such proposed conversion affecting any of its Loans. 

2.07    Pro Rata Borrowings. All Borrowings of New Loans under this Agreement shall be incurred from the
Lenders pro rata on the basis of their Commitments in respect of New Loans. It is understood that no Lender shall be responsible for any default by any other Lender of its obligation to make New Loans hereunder and that each Lender
shall be obligated to make the New Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder. 
 2.08    Interest. 

(a)      Subject to Section 1.02 (with respect to accrued interest and unpaid interest on Original
Loans prior to the Restatement Effective Date), the Company agrees to pay interest in respect of the unpaid principal amount of each Base Rate Loan from the date the proceeds thereof are made available to the Company to (but excluding) the earlier
of the conversion or maturity (whether by acceleration or otherwise) of such Base Rate Loan, at a rate per annum which shall be equal to the sum of the Applicable Margin plus the Base Rate in effect from time to time. 

(b)      Subject to Section 1.02 (with respect to accrued interest and unpaid interest on Original
Loans prior to the Restatement Effective Date), the Company agrees to pay interest in respect of the unpaid principal amount of each Eurodollar Loan from the date the proceeds thereof are made available to the Company to (but excluding) the earlier
of the conversion or maturity (whether by acceleration or otherwise) of such Eurodollar Loan, at a rate per annum which shall, during each Interest Period applicable 

  
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thereto, be equal to the sum of the Applicable Margin plus the Eurodollar Rate for such Interest Period. 
 (c)      Overdue principal and, to the extent permitted by law, overdue interest in respect of each shall, in each case, bear interest at a rate per annum equal to the
greater of (x) the rate which is 2% in excess of the rate then borne by such Loans and (y) the rate which is 2% in excess of the rate otherwise applicable to Base Rate Loans from time to time, and all other overdue amounts payable
hereunder and under any other Credit Document shall bear interest at a rate per annum equal to the rate which is 2% in excess of the rate applicable to Loans that are maintained at Base Rate Loans from time to time. Interest that accrues under this
Section 2.08(c) shall be payable on demand. 
 (d)      Accrued (and theretofore unpaid)
interest shall be payable (i) in respect of each Base Rate Loan, quarterly in arrears on each Quarterly Payment Date, (ii) in respect of each Eurodollar Loan, on the last day of each Interest Period applicable thereto and, in the case of
an Interest Period in excess of three months, on each date occurring at three month intervals after the first day of such Interest Period and (iii) in respect of each Loan, on any repayment or prepayment (on the amount repaid or prepaid), at
maturity (whether by acceleration or otherwise) and, after such maturity, on demand. 

(e)      Upon each Interest Determination Date, the Administrative Agent shall determine the respective
interest rate for each Interest Period applicable to the Eurodollar Loans for which such determination is being made and shall promptly notify the Company and the Lenders thereof. Each such determination shall, absent manifest error, be final and
conclusive and binding on all parties hereto. 
 2.09    Interest Periods. At the time it gives any
Notice of Borrowing in respect of the making of the New Loans on the Restatement Effective Date, or any Notice of Conversion in respect of the conversion of any Loan (in the case of the initial Interest Period applicable thereto) or no later than
12:00 Noon (New York time) on the third Business Day prior to the expiration of an Interest Period applicable to such Loan (in the case of any subsequent Interest Period), the Company shall have the right to elect, by giving the Administrative Agent
notice thereof, the interest period (each, an “Interest Period”) applicable to such Loan, which Interest Period shall, at the option of the Company, be a one, two, three or six-month period, or such shorter period as the Administrative
Agent may agree in its sole discretion, or if agreed upon by each Lender making such Eurodollar Loan, a nine or twelve-month period; provided that: 
 (i)      all Eurodollar Loans comprising a Borrowing shall at all times have the same Interest Period; 

(ii)      the initial Interest Period for any Borrowing of Eurodollar Loans shall commence
on the date of such Borrowing (including the date of any conversion thereto from a Borrowing of Base Rate Loans) and each Interest Period occurring thereafter in respect of such Loans shall commence on the day on which the next preceding Interest
Period applicable thereto expires; 
 (iii)      if any Interest Period relating
to a Eurodollar Loan begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of such calendar month; 

(iv)      if any Interest Period would otherwise expire on a day which is not a Business
Day, such Interest Period shall expire on the next succeeding Business Day; provided, however, that if any Interest Period would otherwise expire on a day which is not a Business Day but is a day of the month after which no further
Business Day occurs in such month, such Interest Period shall expire on the next preceding Business Day; 

  
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 (v)      no Interest Period may be selected at
any time when a Default or an Event of Default is then in existence (unless the Administrative Agent and the Required Lenders otherwise agree); and 
 (vi)      no Interest Period shall be selected which extends beyond the Final Maturity Date. 
 If by 12:00 Noon (New York time) on the third Business Day prior to the expiration of any Interest Period applicable to a Borrowing of Eurodollar Loans, the Company has failed to elect, or is not
permitted to elect, a new Interest Period to be applicable to such Eurodollar Loans as provided above, the Company shall be deemed to have elected to convert such Eurodollar Loans into Base Rate Loans effective as of the expiration date of such
current Interest Period. 
 2.10    Increased Costs, Illegality, etc. 

(a)      In the event that any Lender shall have determined (which determination shall, absent manifest
error, be final and conclusive and binding upon all parties hereto but, with respect to clause (i) below, may be made only by the Administrative Agent): 
 (i)      on any Interest Determination Date that, by reason of any changes arising after the date of this Agreement affecting the London interbank market, adequate and fair
means do not exist for ascertaining the applicable interest rate on the basis provided for in the definition of Eurodollar Rate; 
 (ii)      at any time, that such Lender shall incur increased costs or reductions in the amounts received or receivable hereunder with respect to any Loan which such Lender
deems to be material because of any change since the date of this Agreement in any applicable law or governmental rule, regulation, order, guideline or request (whether or not having the force of law) or in the interpretation or administration
thereof and including the introduction of any new law or governmental rule, regulation, order, guideline or request (a “Change in Law”), which (A) changes the basis of taxation of payment to any Lender of the principal of or interest on
such Loan or any other amounts payable hereunder (except for (I) changes in the rate of tax on, or determined by reference to, the net income or profits of such Lender, or any franchise tax based on the net income or profits of such Lender, in
either case pursuant to the laws of the jurisdiction in which such Lender is organized or in which such Lender’s principal office or applicable lending office is located or any subdivision thereof or therein and (II) Taxes for which a payment
is required pursuant to Section 4.04(a)), (B) with respect to Eurodollar Loans, changes official reserve requirements (but, in all events, excluding reserves required under Regulation D to the extent included in the computation of the
Eurodollar Rate) and/or (C) with respect to Eurodollar Loans, imposes any other condition affecting such Lender or the London interbank market or the position of such Lender in such market; or 

(iii)      at any time, that the making or continuance of any Eurodollar Loan has been made
(x) unlawful by any Change in Law, (y) impossible by compliance by any Lender in good faith with any governmental request made after the date of this Agreement (whether or not having force of law) or (z) impracticable as a result of a
Change in Law which materially and adversely affects the London interbank market; 
 then, and in any such event, such Lender (or the
Administrative Agent, in the case of clause (i)) shall promptly give notice (by telephone confirmed in writing) to the Company and, except in the case of clause (i) above, to the Administrative Agent of such determination (which notice the
Administrative 

  
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Agent shall promptly transmit to each of the other Lenders). Thereafter (x) in the case of clause (i) above, Eurodollar Loans shall no longer be available until such time as the
Administrative Agent notifies the Company and the Lenders that the circumstances giving rise to such notice by the Administrative Agent no longer exist, and any Notice of Borrowing or Notice of Conversion given by the Company with respect to
Eurodollar Loans which have not yet been incurred (including by way of conversion) shall be deemed rescinded by the Company, (y) in the case of clause (ii) above, the Company agrees to pay to such Lender, upon written demand therefor, such
additional amounts (in the form of an increased rate of, or a different method of calculating, interest or otherwise as such Lender in its reasonable discretion shall determine) as shall be required to compensate such Lender for such increased costs
or reductions in amounts received or receivable hereunder (a written notice as to the additional amounts owed to such Lender, showing the basis for the calculation thereof, based on averaging and attribution methods among customers which are
reasonable, submitted to the Company by such Lender in good faith shall, absent manifest error, be final and conclusive and binding on all the parties hereto) and (z) in the case of clause (iii) above, the Company shall take one of the actions
specified in Section 2.10(b) as promptly as possible and, in any event, within the time period required by law. 

(b)      At any time that any Loan is affected by the circumstances described in Section 2.10(a)(ii)
or (iii), the Company may (and in the case of a Eurodollar Loan affected by the circumstances described in Section 2.10(a)(iii) shall) either (x) if the affected Loan is then being made initially or pursuant to a conversion, cancel the
respective Borrowing by giving the Administrative Agent telephonic notice (confirmed in writing) on the same date that the Company was notified by the affected Lender or the Administrative Agent pursuant to Section 2.10(a)(ii) or (iii) or
(y) if the affected Loan is then outstanding, upon at least three Business Days’ written notice to the Administrative Agent and the affected Lender, require the affected Lender to convert such Loan into a Base Rate Loan or repay such Loan
in full; provided that if more than one Lender is affected at any time, then all affected Lenders must be treated the same pursuant to this Section 2.10(b). 
 (c)      If any Lender shall have determined that, after the date hereof, the adoption of any applicable law, rule or regulation regarding capital adequacy, or any change
therein, or any change in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by such Lender or any corporation
controlling such Lender with any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of return on such
Lender’s or such other corporation’s capital or assets as a consequence of such Lender’s Commitment or Loans hereunder or its obligations hereunder to a level below that which such Lender or such other corporation could have achieved
but for such adoption, effectiveness, change or compliance (taking into consideration such Lender’s or such other corporation’s policies with respect to capital adequacy), then from time to time, upon written demand by such Lender (with a
copy to the Administrative Agent), accompanied by the notice referred to in the penultimate sentence of this clause (c), the Company agrees to pay to such Lender such additional amount or amounts as will compensate such Lender or such other
corporation for such reduction. In determining such additional amounts, each Lender will act reasonably and in good faith and will use reasonable averaging and attribution methods. Each Lender, upon determining that any additional amounts will be
payable pursuant to this Section 2.10(c), will give prompt written notice thereof to the Company (a copy of which shall be sent by such Lender to the Administrative Agent), which notice shall set forth in reasonable detail the basis of the
calculation of such additional amounts, although the failure to give any such notice shall not release or diminish the Company’s obligations to pay additional amounts pursuant to this Section 2.10(c) upon the subsequent receipt of such
notice except as provided in Section 2.14. A Lender’s reasonable good faith determination of compensation owing under this Section 2.10(c) shall, absent manifest error, be final and conclusive and binding on all the parties hereto.

  
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 2.11    Compensation. The Company agrees to compensate each
Lender, upon its written request (which request shall set forth the basis for requesting such compensation), for all reasonable losses, expenses and liabilities (including, without limitation, any loss, expense or liability incurred by reason of the
liquidation or reemployment of deposits or other funds required by such Lender to fund its Eurodollar Loans (but excluding loss of profits)) which such Lender has sustained: (i) if for any reason (other than a default by such Lender or the
Administrative Agent) a Borrowing of, or conversion from or into, Eurodollar Loans does not occur on a date specified therefor in a Notice of Borrowing or Notice of Conversion (whether or not withdrawn by the Company); (ii) if any repayment
(including any repayment made pursuant to Section 4.01 or 4.02 or a result of an acceleration of the Loans pursuant to Section 9 or as a result of the replacement of a Lender pursuant to Section 2.13 or 11.12(b)) or conversion of any
Eurodollar Loans occurs on a date which is not the last day of an Interest Period with respect thereto; (iii) if any prepayment of any Eurodollar Loans is not made on any date specified in a notice of prepayment given by the Company; or
(iv) as a consequence of (x) any other default by the Company to repay its Loans when required by the terms of this Agreement or any Note held by such Lender or (y) any election made pursuant to Section 2.10(b). 

2.12    Change of Lending Office. Each Lender agrees that on the occurrence of any event giving rise to the
operation of Section 2.10(a)(ii) or (iii), Section 2.10(c) or Section 4.04 with respect to such Lender, it will, if requested by the Company, use reasonable efforts (subject to overall policy considerations of such Lender) to
designate another lending office for any Loans affected by such event; provided that such designation is made on such terms that such Lender and its lending office suffer no economic, legal or regulatory disadvantage, with the object of
avoiding the consequence of the event giving rise to the operation of such Section. Nothing in this Section 2.12 shall affect or postpone any of the obligations of the Company or the right of any Lender provided in Sections 2.10 and 4.04.

 2.13    Replacement of Lenders. 

(a)      (i) If any Lender refuses to consent to certain proposed changes, waivers, discharges or
terminations with respect to this Agreement which have been approved by the Required Lenders as provided in Section 11.12(b), (ii) upon the occurrence of any event giving rise to the operation of Section 2.10(a)(ii) or (iii),
Section 2.10(c) or Section 4.04 with respect to any Lender which results in such Lender charging to the Company increased costs or (iii) any Lender becomes a Defaulting Lender, the Company shall have the right, in accordance with the
requirements of Section 11.04(b), if no Event of Default will exist after giving effect to such replacement, to replace such Lender (the “Replaced Lender”) with an Eligible Transferee or Transferees (collectively, the
“Replacement Lender”), reasonably acceptable to the Administrative Agent; provided that (i) at the time of any replacement pursuant to this Section 2.13, the Replacement Lender shall enter into one or more Assignment and
Assumption Agreements pursuant to Section 11.04(b) (and with the assignment fee payable pursuant to said Section 11.04(b) to be paid by the Replacement Lender) pursuant to which the Replacement Lender shall acquire all of the Commitments
and outstanding Loans of the Replaced Lender and, in connection therewith, shall pay to the Replaced Lender in respect thereof an amount equal to the sum of (A) an amount equal to the principal of, and all accrued interest on, all outstanding
Loans of the Replaced Lender and (B) an amount equal to all accrued, but theretofore unpaid, Fees owing to the Replaced Lender pursuant to Section 3.01 and (ii) all obligations of the Company owing to the Replaced Lender (other than
those specifically described in clause (i) above in respect of which the assignment purchase price has been, or is concurrently being, paid) shall be paid in full to such Replaced Lender concurrently with such replacement. 

(b)      Upon the execution of the respective Assignment and Assumption Agreements, the payment of amounts
referred to in clauses (i) and (ii) of the proviso contained in Section 2.13(a) and, if so requested by the Replacement Lender, delivery to the Replacement Lender of the appropriate Note executed by the Company, the Replacement Lender
shall become a Lender hereunder and the Replaced 

  
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Lender shall cease to constitute a Lender hereunder, except with respect to indemnification provisions applicable to the Replaced Lender under this Agreement (including, without limitation,
Sections 2.10, 2.11, 4.04, 11.01 and 11.06), which shall survive as to such Replaced Lender. 

2.14    Limitations on Additional Amounts, etc. Notwithstanding anything to the contrary contained in
Section 2.10 or 2.11 of this Agreement, unless a Lender gives notice to the Company that it is obligated to pay an amount under the respective Section within 180 days after the date such Lender incurs the respective increased costs, loss,
expense or liability, reduction in amounts received or receivable or reduction in return on capital, then such Lender shall only be entitled to be compensated for such amount by the Company pursuant to said Section 2.10 or 2.11, as the case may
be, to the extent the costs, loss, expense or liability, reduction in amounts received or receivable or reduction in return on capital are incurred or suffered on or after the date which occurs 180 days prior to such Lender giving notice to the
Company that it is obligated to pay the respective amounts pursuant to said Section 2.10 or 2.11 as the case may be; provided that if the circumstances giving rise to such claims have a retroactive effect, then such 180-day period shall
be extended to include the period of such retroactive effect. This Section 2.14 shall have no applicability to any Section of this Agreement other than said Sections 2.10 or 2.11. 

2.15    Incremental Term Commitments. 

(a)      The Company shall have the right in coordination with the Administrative Agent as to all of the
matters set forth below in this Section 2.15, but without requiring the consent of any of the Lenders, to request at any time and from time to time after the Restatement Effective Date, that one or more Lenders (and/or one or more other Persons
which are Eligible Transferees and which will become Lenders as provided below) satisfactory to the Administrative Agent (with such consent not to be unreasonably withheld) provide Incremental Term Commitments and, subject to the applicable terms
and conditions contained in this Agreement, make Incremental Loans pursuant thereto; provided, however, that (i) no Lender shall be obligated to provide an Incremental Term Commitment as a result of any such request by the
Company, and until such time, if any, as such Lender has agreed in its sole discretion to provide an Incremental Term Commitment and executed and delivered to the Administrative Agent an Incremental Term Commitment Agreement in respect thereof as
provided in clause (b) of this Section 2.15, such Lender shall not be obligated to fund any Incremental Loans, (ii) any Lender (including any Eligible Transferee who will become a Lender) may so provide an Incremental Term Commitment
without the consent of any other Lender, (iii) at the time of the incurrence of any Incremental Loans and immediately after giving effect thereto and the use of proceeds thereof, determined on a pro forma basis, the Interest
Coverage Ratio shall be greater than 2.00:1.00, (iv) the aggregate principal amount of Incremental Loans that may be incurred under this Section 2.15 shall not exceed the greater of (A) $75,000,000 and (B) an aggregate principal
amount such that, at the time of the incurrence of any Incremental Loans and immediately after giving effect thereto, determined on a pro forma basis, the Senior Secured Net Leverage Ratio for the most recently ended Test Period shall
be 2.00:1.00 or lower, (v) all Incremental Loans made pursuant to an Incremental Term Commitment (and all interest, fees and other amounts payable thereon) shall be Obligations under this Agreement and the other applicable Credit Documents and
shall be secured by the Security Documents, and guaranteed under the Subsidiary Guarantee, on a pari passu basis with all other Obligations secured by the Security Documents and guaranteed under the Subsidiaries Guarantee,
(vi) the maturity date of any Incremental Loans shall not be earlier than the Final Maturity Date, (vii) the Weighted Average Life to Maturity of any such Incremental Loans shall be no shorter than the Weighted Average Life to Maturity of
the existing Loans, (viii) in the event the initial yield on any Incremental Loan (as reasonably determined by the Administrative Agent to be equal to the sum of (x) the margin above the Eurodollar Rate on such Incremental Loan,
(y) if such Incremental Loans are initially made at a discount or the Lenders making the same receive a fee directly or indirectly from the Borrower or any of its Subsidiaries for doing so (but excluding any arrangement fees not paid to the
Lenders thereof generally) (the amount of such discount or fee, expressed 

  
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as a percentage of the Incremental Loans, being referred to herein as “OID”), the amount of such OID (based on an assumed four year weighted average life) and (z) any minimum
Eurodollar rate applicable to such Incremental Loans, the “Incremental Yield”) exceeds the initial yield on the existing Loans by more than 50 basis points (taking into account the same factors in making the determination of the yield on
the Incremental Loans and assuming a weighted average life of four years; the amount of such excess above 50 basis points being referred to herein as the “Yield Differential”), then the Applicable Margin then in effect for Loans shall
automatically be increased by the Yield Differential, effective upon the making of the Incremental Loans; (ix) (A) any amortization payments in respect of Incremental Loans shall be no more than ratable with amortization payments in
respect of the existing Loans and (B) any Incremental Loans shall otherwise be no more than pari passu with the existing Loans with respect to mandatory prepayments and other prepayment rights, and (x) except as provided in
clauses (vi)-(ix) above, the terms applicable to such Incremental Loans (including the interest rates applicable thereto) shall be reasonably satisfactory to the Administrative Agent and as set forth in the respective Incremental Term
Commitment Agreement. 
 (b)      At the time of the provision of Incremental Term Commitments
pursuant to this Section 2.15, the Company, the Administrative Agent and each such Lender or other Eligible Transferee which agrees to provide an Incremental Term Commitment (each, an “Incremental Term Lender”) shall execute and
deliver to the Administrative Agent an Incremental Term Commitment Agreement, with the effectiveness of such Incremental Term Lender’s Incremental Term Commitment to occur (and with the respective Incremental Loans to be made) on the date set
forth in such Incremental Term Commitment Agreement, which date in any event shall be no earlier than the date on which (w) all fees required to be paid in connection therewith at the time of such effectiveness shall have been paid (including,
without limitation, any agreed upon upfront or arrangement fees), (x) all Incremental Commitment Requirements are satisfied, (y) all other conditions set forth in this Section 2.15 shall have been satisfied, and (z) all other
conditions precedent that may be set forth in such Incremental Term Commitment Agreement shall have been satisfied. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Incremental Term Commitment Agreement and
to the extent requested by any Incremental Term Lender, a Note will be issued, at the Company’s expense, to such Incremental Term Lender in conformity with the requirements of Section 2.05. 

SECTION 3. Fees; Reductions of Commitment. 
 3.01    Agent Fees. The Company agrees to pay to each Agent, for its own account, such fees as are agreed to in writing by the Company and each Agent from time to time.

 3.02    Mandatory Reduction of Commitments. 

(a)      The Commitment of each Lender shall terminate in its entirety on the Restate-ment Effective Date
(after giving effect to the incurrence of Loans on such date). 
 (b)      Each Incremental Term
Commitment made pursuant to an Incremental Term Commitment Agreement shall be terminated in its entirety on the respective Incremental Term Commitment Date, in each case after giving effect to the making of the respective Incremental Loans on such
date. 
 SECTION 4.    Prepayments; Payments; Taxes. 

4.01    Voluntary Prepayments. The Company shall have the right to prepay Loans, without premium or penalty
(except for amounts owing under Section 2.11), in whole or in part from time to time on the following terms and conditions: 

  
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 (i)      the Company shall give the
Administrative Agent at its Notice Office (A) at least one Business Day’s prior written notice (or telephonic notice promptly confirmed in writing) of its intent to prepay Base Rate Loans or (B) at least three Business Days’
prior written notice (or telephonic notice promptly confirmed in writing) of its intent to prepay Eurodollar Loans, which notice (in each case) shall specify the amount of such prepayment and the Types of Loans to be prepaid and, in the case of
Eurodollar Loans, the specific Borrowing or Borrowings pursuant to which such Eurodollar Loans were made, which notice the Administrative Agent shall promptly transmit to each of the Lenders; 

(ii)      each partial prepayment in respect of any Loans shall be in an aggregate
principal amount of at least the applicable Minimum Amount and, if greater, in integral multiples as set forth in the definition of Minimum Amount; provided that no such voluntary partial prepayment of Eurodollar Loans made pursuant to any
Borrowing shall reduce the outstanding Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Amount; 
 (iii)      each prepayment in respect of any Loans made pursuant to a Borrowing shall be applied pro rata among such Loans; and 

(iv)      each prepayment of Loans pursuant to this Section 4.01 shall be applied to
the then remaining Scheduled Repayments and Incremental Scheduled Repayments in such order as the Company shall specify to the Administrative Agent in writing at the time of such prepayment, and if the Company fails to so specify the application of
such prepayment at the time of such prepayment, then such prepayment shall be applied to reduce the then remaining Scheduled Repayments and Incremental Scheduled Repayments in direct order of maturity (based upon the then remaining principal amount
of each such Scheduled Repayment and Incremental Scheduled Repayment). 
 The foregoing notwithstanding, in the event that, on
or prior to the first anniversary of the Restatement Effective Date, the Company (x) makes any prepayment of Loans in connection with any Repricing Transaction, or (y) effects any amendment of this Agreement resulting in a Repricing
Transaction, the Company shall pay to the Administrative Agent, for the ratable account of each of the applicable Lenders, without duplication, (I) in the case of clause (x), a prepayment premium of 1% of the principal amount of the Loans being
prepaid and (II) in the case of clause (y), a payment equal to 1% of the aggregate principal amount of the applicable Loans outstanding immediately prior to such amendment and that is prepaid or refinanced pursuant to such amendment with the
incurrence of long-term bank debt financing. 
 4.02    Mandatory Repayments. 

(a)     (i) In addition to any other mandatory repayments pursuant to this Section 4.02, on the last
Business Day of each fiscal quarter (beginning with the last Business Day of February, 2011) (each, a “Scheduled Repayment Date”), the Company shall repay a principal amount of the Loans, to the extent then outstanding, as is set forth
opposite each such fiscal quarter below or the Final Maturity Date, as applicable (each such repayment, as the same may be reduced as provided in Section 4.01 or 4.02(f), a “Scheduled Repayment”): 

  
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	 Scheduled Repayment Dates
	  	 Amount

		
	 Each fiscal quarter ending from February 28, 2011 through May 31, 2017
	  	$500,000
		
	 The Final Maturity Date
	  	All remaining
amounts

(ii)      In addition to any other mandatory repayments pursuant to this Section 4.02, the Company
shall be required to make, with respect to Incremental Loans, to the extent then outstanding, scheduled amortization payments of such Incremental Loans on the dates and in the principal amounts set forth in the respective Incremental Term Commitment
Agreement (each such date, an “Incremental Scheduled Repayment Date,” and each such repayment, as the same may be reduced as provided in Sections 4.01 and 4.02(f), an “Incremental Scheduled Repayment”). 

(b)      In addition to any other mandatory repayments pursuant to this Section 4.02, within one
Business Day following each date after the Restatement Effective Date upon which the Company and/or any of its Subsidiaries receives any proceeds from any incurrence of Indebtedness (excluding any Indebtedness permitted to be incurred pursuant to
Section 8.04 as such Section 8.04 is in effect on the Restatement Effective Date), an amount equal to 100% of the cash proceeds therefrom (net of underwriting discounts or placement discounts and commissions and other reasonable fees and
costs associated therewith) shall be applied as a mandatory repayment in accordance with the requirements of Sections 4.02(f) and (g). 
 (c)      In addition to any other mandatory repayments pursuant to this Section 4.02, within one Business Day following each date on and after the Restatement Effective
Date upon which the Company and/or any of its Subsidiaries receives Cash Proceeds from any Asset Sale (in excess of $15,000,000 per fiscal year of the Company in the case of any Asset Sale pursuant to Section 8.02(ii)), an amount equal to 100%
of the Net Cash Proceeds therefrom (or such excess in the case of any Asset Sale pursuant to Section 8.02(ii)) shall be applied as a mandatory repayment in accordance with the requirements of Sections 4.02(f) and (g); provided that such
Net Cash Proceeds shall not be required to be so applied on such date if no Default or Event of Default then exists and the Company delivers a certificate to the Administrative Agent on or prior to such date stating that such Net Cash Proceeds shall
be used either to purchase (i) assets used or to be used in the business of the Company or its Subsidiaries in compliance with this Agreement or (ii) equity interests in a Person engaged in a business of a type described in
Section 8.10 in connection with a Permitted Acquisition, in each case within 270 days following the date of such Asset Sale (which certificate shall set forth the estimates of the proceeds to be so expended), and provided,
further, that if all or any portion of such Net Cash Proceeds not so applied in accordance with Sections 4.02(f) and (g) are not so used within such 270 day period, such remaining portion shall be applied on the last day of such period
as a mandatory repayment as provided above in this Section 4.02(c). 
 (d)      In addition
to any other mandatory repayments pursuant to this Section 4.02, on each Excess Cash Payment Date, an amount equal to the remainder of (A) applicable ECF Percentage of the Excess Cash Flow for the relevant Excess Cash Payment Period
minus (B) the aggregate principal amount of all voluntary prepayments of ABL Loans and Loans (but, in the case of the ABL Loans, only to the extent accompanied by a voluntary reduction to the “Commitments” as defined in the ABL
Credit Agreement) during such period, in each case to the extent made with internally generated funds shall be applied as a mandatory repayment in accordance with the requirements of Sections 4.02(f) and (g). 

  
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 (e)      In addition to any other mandatory repayments
pursuant to this Section 4.02, within 10 days following each date after the Restatement Effective Date on which the Company or any of its Subsidiaries receives any proceeds from any Recovery Event, an amount equal to 100% of the proceeds of
such Recovery Event (net of reasonable costs including, without limitation, legal costs and expenses and taxes incurred in connection with such Recovery Event) shall be applied as a mandatory repayment in accordance with the requirements of Sections
4.02(f) and (g); provided that so long as no Default or Event of Default then exists and to the extent such proceeds do not exceed $30,000,000, such proceeds shall not be required to be so applied on such date to the extent that the Company
has delivered a certificate to the Administrative Agent on or prior to such date stating that such proceeds shall be (or have been, as the case may be) used to repair, replace or restore any properties or assets in respect of which such proceeds
were paid or purchase assets used or to be used in the business of the Company or its Subsidiaries in compliance with this Agreement (i) within 360 days following the date of such Recovery Event (which certificate shall set forth the estimates
of the proceeds to be so expended) or (ii) on or after the date of the event giving rise to the relevant Recovery Event so long as such date is not more than 60 days prior to the date of such Recovery Event (which certificate shall set forth
the amounts of the proceeds actually expended); provided, further, that if all or any portion of such proceeds not required to be applied in accordance with Sections 4.02(f) and (g) pursuant to the preceding proviso are not so
used within the periods provided in the immediately preceding proviso, such remaining portion shall be applied on the last day of such period as a mandatory repayment in accordance with the requirements of Sections 4.02(f) and (g). 

(f)      Each amount required to be applied pursuant to Sections 4.02(b), (c), (d) and (e) in
accordance with this
 Section 4.02(f) shall be applied to repay the outstanding principal amount of Loans; provided, however, that (x) if at the time of any mandatory repayment pursuant to this Section 4.02(f) the ABL
Borrowing Availability is less than $20,000,000 (or, in the case of amounts required to be applied pursuant to Section 4.02(d), $25,000,000, such mandatory repayment instead shall be applied (i) first, to repay the outstanding principal
amount of the ABL Loans in an amount necessary to cause the ABL Borrowing Availability to be equal to $20,000,000 (or, in the case of amounts required to be applied pursuant to Section 4.02(d), $25,000,000), and (ii) second, to
repay the outstanding principal amount of the Loans, and (y) without limiting the provisions of preceding subclause (x), if as part of any Asset Sale or Recovery Event, any Collateral is being sold or has been damaged or taken (as the case may
be) that is used in calculating the Borrowing Base (as defined in the ABL Credit Agreement) then the amount of the Net Cash Proceeds from such Asset Sale or the net proceeds from such Recovery Event (as the case may be) that is attributable to such
Collateral shall be applied to the outstanding ABL Loans in an amount equal to the value of such Collateral for which credit is given in such Borrowing Base (immediately prior to such Asset Sale or Recovery Event), and the remaining portion of such
Net Cash Proceeds or net insurance proceeds shall be applied as a mandatory repayment in accordance with the requirements of Section 4.02(c) or (e), as the case may be. 
 (g)      With respect to each repayment of Loans required by this Section 4.02, the Company may designate the Types of Loans which are to be repaid and, in the case of
Eurodollar Loans, the specific Borrowing or Borrowings pursuant to which such Loans were made; provided that: (i) if any repayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made
pursuant to such Borrowing to an amount less than the applicable Minimum Amount, such Borrowing shall be immediately converted into a Borrowing of Base Rate Loans; (ii) each repayment of any Loans made pursuant to a Borrowing shall be applied
pro rata among such Loans; (iii) each repayment shall be applied to all outstanding Incremental Loans on a pro rata basis; and (iv) each prepayment of Loans and Incremental Loans pursuant to this
Section 4.02 shall be applied to the then remaining Scheduled Repayments and Incremental Scheduled Repayments on a pro rata basis. 

  
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 (h)      All outstanding Loans and Incremental Loans shall be
repaid on the Final Maturity Date. 
 4.03    Method and Place of Payment. Except as otherwise
specifically provided herein, all payments under this Agreement or any Note shall be made to the Administrative Agent for the account of the Lender or Lenders entitled thereto no later than 12:00 Noon (local time in the city in which such payments
are to be made) on the date when due and shall be made in Dollars in immediately available funds at the Payment Office of the Administrative Agent. Whenever any payment to be made hereunder or under any Note shall be stated to be due on a day which
is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day and, with respect to payments of principal, interest shall be payable at the applicable rate during such extension. 

4.04    Net Payments; Taxes. 
 (a)      All payments made by or on behalf of the Company hereunder or under any Note will be made without setoff, counterclaim or other defense. Except as provided in
Section 4.04(b), all such payments will be made free and clear of, and without deduction or withholding for, any present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by
any jurisdiction or by any political subdivision or taxing authority thereof or therein with respect to such payments (but excluding, except as provided in the second succeeding sentence, any income or franchise tax imposed on or measured by the
overall net income or profits of a Lender, or any franchise tax or gross receipts taxes that are imposed in lieu of net income or net profits taxes, in either case pursuant to the laws of the jurisdiction in which it is organized or the jurisdiction
in which the principal office or applicable lending office of such Lender is located or any subdivision thereof or therein) and all interest, penalties or similar liabilities with respect thereto (all such non-excluded charges being referred to
collectively as “Taxes”). If any Taxes are so levied or imposed, the Company agrees to pay the full amount of such Taxes, and such additional amounts as may be necessary so that every payment of all amounts due under this Agreement or
under any Note, after withholding or deduction for or on account of any Taxes, will not be less than the amount provided for herein or in such Note. If any amounts are payable in respect of Taxes pursuant to the preceding sentence, the Company
agrees to reimburse each Lender, upon the written request of such Lender, for taxes imposed on or measured by the net income of such Lender pursuant to the laws of the jurisdiction or any political subdivision or taxing authority thereof or therein
in which such Lender is organized or in which the principal office or applicable lending office of such Lender is located as such Lender shall determine are payable by, or withheld from, such Lender in respect of such amounts so paid to or on behalf
of such Lender pursuant to the preceding sentence and in respect of any amounts paid to or on behalf of such Lender pursuant to this sentence. The Company will furnish to the Administrative Agent within 45 days after the date of the payment of any
Taxes is due pursuant to applicable law certified copies of tax receipts evidencing such payment by the Company. The Company agrees to indemnify and hold harmless each Lender and the Administrative Agent, and reimburse such Lender or Administrative
Agent within 10 days after its written request, for the amount of any Taxes so levied or imposed and paid by such Lender or Administrative Agent, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate setting forth the amount of such payment or liability and the reasons therefore in reasonable detail delivered to Company by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own
behalf or on behalf of a Lender, shall be conclusive absent manifest error. 
 (b)       Each
Lender that is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) agrees to deliver to the Company and the Administrative Agent on or prior to the Restatement Effective Date, or in the case of a Lender that
is an assignee or transferee of an interest under this Agreement pursuant to Section 2.13 or 11.04 (unless the respective Lender was already a 

  
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Lender hereunder immediately prior to such assignment or transfer), on the date of such assignment or transfer to such Lender, (i) to the extent permitted by law, two accurate and complete
original signed copies of Internal Revenue Service Form W-8ECI or Form W-8BEN (with respect to a complete exemption under an income tax treaty) (or successor forms) certifying to such Lender’s entitlement as of such date to a complete
exemption from United States withholding tax with respect to payments to be made under this Agreement and under any Note or (ii) to the extent permitted by law, if the Lender is not a “Lender” within the meaning of
Section 881(c)(3)(A) of the Code and cannot deliver either Internal Revenue Service Form W-8ECI or Form W-8BEN (with respect to a complete exemption under an income tax treaty) pursuant to clause (i) above, (x) a certificate
substantially in the form of Exhibit C (any such certificate, a “Section 4.04(b)(ii) Certificate”) and (y) two accurate and complete original signed copies of Internal Revenue Service Form W-8BEN (with respect to the portfolio
interest exemption) (or successor form) certifying to such Lender’s entitlement as of such date to a complete exemption from United States withholding tax with respect to payments of interest to be made under this Agreement and under any Note.
In addition, each Lender agrees that from time to time after the Restatement Effective Date, when a lapse in time or change in circumstances renders the previous certification obsolete or inaccurate in any material respect, it will deliver to the
Company and the Administrative Agent, to the extent permitted by law, two new accurate and complete original signed copies of Internal Revenue Service Form W-8ECI or Form W-8BEN (with respect to a complete exemption under an income tax treaty), or
Form W-8BEN (with respect to the portfolio interest exemption) and a Section 4.04(b)(ii) Certificate, as the case may be, and such other forms as may be required in order to confirm or establish the entitlement of such Lender to a continued
exemption from or reduction in United States withholding tax with respect to payments under this Agreement and any Note or it shall immediately notify the Company and the Administrative Agent of its inability to deliver any such Form or Certificate
in which case such Lender shall not be required to deliver any such Form or Certificate pursuant to this Section 4.04(b). Notwithstanding anything to the contrary contained in Section 4.04(a), but subject to Section 11.04(b) and the
immediately succeeding sentence, (x) the Company shall be entitled, to the extent it is required to do so by law, to deduct or withhold income or similar taxes imposed by the United States (or any political subdivision or taxing authority
thereof or therein) from interest, Fees or other amounts payable hereunder for the account of any Lender which is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) for U.S. Federal income tax purposes to
the extent that such Lender has not provided to the Company U.S. Internal Revenue Service Forms that establish a complete exemption from such deduction or withholding and (y) the Company shall not be obligated pursuant to Section 4.04(a)
to gross-up payments to be made to a Lender in respect of income or similar taxes imposed by the United States if (I) such Lender has not provided to the Company the Internal Revenue Service Forms required to be provided to the Company pursuant
to this Section 4.04(b) or (II) in the case of a payment, other than interest, to a Lender described in clause (ii) above, to the extent that such Forms do not establish a complete exemption from withholding of such taxes. Notwithstanding
anything to the contrary contained in the preceding sentence or elsewhere in this Section 4.04 and except as set forth in Section 11.04(b), the Company agrees to pay additional amounts and to indemnify each Lender in the manner set forth
in Section 4.04(a) (without regard to the identity of the jurisdiction requiring the deduction or withholding) in respect of any amounts deducted or withheld by it as described in the immediately preceding sentence as a result of any changes
after the Restatement Effective Date in any applicable law, treaty, governmental rule, regulation, guideline or order, or in the interpretation thereof, relating to the deducting or withholding of such income or similar Taxes. 

(c)      If the Company pays any additional amount under this Section 4.04 to a Lender and such Lender
determines in its sole discretion that it has actually received or realized in connection therewith any refund or any reduction of, or credit against, its Tax liabilities in or with respect to the taxable year in which the additional amount is paid
(a “Tax Benefit”), such Lender shall pay to the Company an amount that the Lender shall, in its sole discretion, determine is equal to the net benefit, after tax, which was obtained by the Lender in such year as a consequence of such Tax
Benefit; provided, 

  
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however, that (i) any Lender may determine in its sole discretion consistent with the policies of such Lender whether to seek a Tax Benefit; (ii) any Taxes that are imposed on a
Lender as a result of a disallowance or reduction (including through the expiration of any tax carryover or carryback of such Lender that otherwise would not have expired) of any Tax Benefit with respect to which such Lender has made a payment to
the Company pursuant to this Section 4.04(c) shall be treated as a Tax for which the Company is obligated to indemnify such Lender pursuant to this Section 4.04 without any exclusions or defenses; (iii) nothing in this
Section 4.04(c) shall require a Lender to disclose any confidential information to the Company (including, without limitation, its tax returns); and (iv) no Lender shall be required to pay any amounts pursuant to this Section 4.04(c)
at any time a Default or Event of Default exists. Notwithstanding anything to the contrary, in no event will any Lender be required to pay any amount to the Company the payment of which would place such Lender in a less favorable net after-tax
position than such Lender would have been in if the additional amounts giving rise to such refund of Taxes had never been paid. 

SECTION 5.      Conditions Precedent to Restatement Effective Date. The effectiveness of the
restatement of the Original Credit Agreement contemplated by this Agreement is subject to the satisfaction of the following conditions: 
 (a)      Execution of Agreement; Lender Addenda. On or prior to the Restatement Effective Date the Administrative Agent shall have received (i) a counterpart of
this Agreement executed and delivered by the Company and (ii) Lender Addenda appropriately completed and executed by Lenders under the Original Credit Agreement constituting the Required Lenders. 

(b)      Opinions of Counsel. On the Restatement Effective Date, the Administrative Agent shall have
received (i) from Frost Brown Todd LLC, counsel to the Company and its Subsidiaries, an opinion addressed to the Administrative Agent, the Collateral Agent and each of the Lenders and dated the Restatement Effective Date covering the matters
set forth in Exhibit D and (ii) from local counsel to the Company and its Subsidiaries reasonably satisfactory to the Administrative Agent, opinions addressed to the Administrative Agent, the Collateral Agent and each of the Lenders and dated
the Restatement Effective Date, each of which shall be in form and substance reasonably satisfactory to the Administrative Agent and shall cover such matters incident to the transactions contemplated herein and in the other Credit Documents as the
Administrative Agent may reasonably request. 
 (c)      Corporate Documents; Proceedings.
(1) On the Restatement Effective Date, the Administrative Agent shall have received a certificate, dated the Restatement Effective Date, signed by an Authorized Officer of each Credit Party, and attested to by the Secretary or any Assistant
Secretary of such Credit Party, substantially in the form of Exhibit E with appropriate insertions, together with copies of the Certificate of Incorporation and By-Laws (or their equivalents) of such Credit Party and the resolutions of such Credit
Party referred to in such certificate, and the foregoing shall be reasonably acceptable to the Administrative Agent; and all Business and legal proceedings and all instruments and agreements relating to the transactions contemplated by this
Agreement and the other Documents shall be reasonably satisfactory in form and substance to the Administrative Agent, and the Administrative Agent shall have received all information and copies of all documents and papers, including records of
Business proceedings, governmental approvals, good standing certificates and bring-down certificates, if any, which the Administrative Agent may have reasonably requested in connection therewith, such documents and papers where appropriate to be
certified by proper Business or governmental authorities. 
 (d)      No Conflicts. There
shall be no conflict with, or default under, any material agreement of the Company and its Subsidiaries nor shall there exist any judgment, order, injunction or other restraint prohibiting or imposing materially adverse conditions upon the
Transaction or the transactions contemplated by this Agreement. 

  
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 (e)      Litigation. There shall be no litigation,
arbitration, administrative proceeding or consent decree that could reasonably be expected to (1) have a Material Adverse Effect on the Company and its Subsidiaries, taken as a whole, or (2) materially impair the ability of the parties to
consummate the Transaction. 
 (f)      Financial Statements; Pro Forma Financials;
Projections. On or prior to the Restatement Effective Date, the Administrative Agent shall have received true and correct copies of the historical financial statements, the pro forma financial statements and the Projections
referred to in Sections 6.05(a), (c) and (d), which historical financial statements, pro forma financial statements and Projections shall be in form and substance reasonably satisfactory to the Administrative Agent. 

(g)      Fees. The Joint Lead Arrangers and Administrative Agent shall have received all Fees and
other amounts due and payable on or prior to the Restatement Effective Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses (including the legal fees and expenses of Cahill Gordon & Reindel LLP,
special counsel to the Agent, and the fees and expenses of any local counsel, foreign counsel, appraisers, consultants and other advisors) required to be reimbursed or paid by the Company hereunder or under any other Loan Document. 

(h)      No Default; Representations and Warranties. On the Restatement Effective Date,
(i) there shall exist no Default or Event of Default and (ii) all representations and warranties contained herein or in the other Credit Documents shall be true and correct in all material respects. 

(i)      Officer’s Certificate. On the Restatement Effective Date, the Administrative Agent
shall have received a certificate dated such date signed by the President or any Vice President of the Company stating that all of the applicable conditions set forth in clauses (h), (j) and (p) have been met. 

(j)      Consummation of the Transaction. 

(i)      The Acquisition Agreement shall be in full force and effect and concurrently with the funding of
the Loans hereunder, the Acquisition shall have been consummated in accordance with the terms of the Acquisition Agreement, and the Acquisition Agreement shall not have been altered, amended or otherwise changed or supplemented or any provision or
condition therein waived, and the Company shall not have consented to any action which would require the consent of the Company under the Acquisition Agreement, if such alteration, amendment, change, supplement, waiver or consent would be adverse to
the interests of the Lead Arranger or Lenders in any material respect, in any such case without the prior written consent of the Administrative Agent. The Administrative Agent shall have received, or shall receive concurrently, copies of duly
completed, executed and dated share transfer forms (ordres de mouvement) and related tax transfer forms (formulaire Cerfa n°2759) in respect of the transfer of all, and not less than all, of the Acquired Securities (as defined in
the Acquisition Agreement) or other confirmation satisfactory to the Lead Arranger of the consummation of the Acquisition. 

(ii)      On or prior to the Restatement Effective Date, the Company and certain of its Subsidiaries shall
have entered into the ABL Credit Agreement. The ABL Credit Agreement shall comprise not less than $100.0 million in commitments. All terms and conditions (and the documentation) in connection with the incurrence of the ABL Loans (including, without
limitation, amortization, maturities, interest rate, interest periods, covenants, defaults, remedies and other terms) shall be reasonably satisfactory to the Administrative Agent and all conditions precedent to the incurrence of the ABL Loans as set
forth in the ABL Credit Documents shall have been satisfied (and not waived without the consent of the Administrative Agent) to the reasonable satisfaction of the Administrative Agent. 

  
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 (iii)      On or prior to the Restatement Effective Date, the
Company shall have received gross cash proceeds (calculated before underwriting fees) of at least $250.0 million from the issuance of the Senior Notes and such gross proceeds shall have been released from escrow. 

(iv)      All requisite material Governmental Authorities and third parties shall have approved or
consented to the Transaction, all applicable waiting or appeal periods (including any extensions thereof) shall have expired and there shall be no governmental or judicial action, actual or threatened, that could reasonably be expected to restrain,
prevent or impose materially burdensome conditions on the Transaction. 
 (v)      On or prior to
the Restatement Effective Date, the Company shall have consummated the Refinancing. 

(vi)      On the Restatement Effective Date and after giving effect to the consummation of each component
of the Transaction to be consummated on or prior to the Restatement Effective Date, the Company and its Subsidiaries shall have no indebtedness for money borrowed or preferred stock outstanding other than (i) the Loans, (ii) the ABL Loans
and ABL Letters of Credit, (iii) intercompany Indebtedness among the Credit Parties, (iv) the Senior Notes and (v) certain other indebtedness existing on the Restatement Effective Date as listed on Schedule 5(j)(vi). 

(vii)      On the Restatement Effective Date and immediately prior to giving effect to the Acquisition, the
representations and warranties with respect to the Acquired Business and its Subsidiaries shall be true and correct to the extent required by the condition set forth in Section 5.3.3 of the Acquisition Agreement. 

(k)      Consents. The Administrative Agent shall be satisfied that all requisite Governmental
Authorities and third parties shall have approved or consented to the Transaction, and there shall be no governmental or judicial action, actual or threatened, that has or would have, singly or in the aggregate, a reasonable likelihood of
restraining, preventing or imposing burdensome conditions on the Transaction or the other transactions contemplated hereby. 

(l)      Margin Regulations. After giving effect to the Transaction, including the making of Loans
and the use of proceeds thereof, the Company shall not be in violation of the provisions of Regulation T, U or X of the Board of Governors of the Federal Reserve System. 
 (m)      Security Documents. On the Restatement Effective Date, each Credit Party shall have duly authorized, executed and delivered such amendments and supplements to
the Security Documents as the Administrative Agent shall reasonably require to ensure the continued perfection of the security interests of the Administrative Agent in the Collateral together with proper financing statements (Form UCC-1 or such
other financing statements or similar notices as shall be required by local law) or amendments to such financing statements, fully executed (to the extent necessary) for filing under the UCC or other appropriate filing offices of each jurisdiction
as may be necessary or, in the reasonable opinion of the Collateral Agent, desirable to perfect the security interests purported to be created by the Security Agreement. 
 (n)      Intercreditor Agreement. On the Restatement Effective Date, each Credit Party, the Collateral Agent (for and on behalf of the Secured Creditors) and the ABL
Collateral Agent (for and on behalf of the lenders under the ABL Credit Agreement and J.P. Morgan Chase, N.A., as administrative agent under the ABL Credit Agreement) shall have duly authorized, executed and delivered the ABL/Term Loan Intercreditor
Agreement in the form of Exhibit K (as amended, modified, restated 

  
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and/or supplemented from time to time, the “ABL/Term Loan Intercreditor Agreement”), and the ABL/Term Loan Intercreditor Agreement shall be in full force and effect. 

(o)      Solvency Certificate. On the Restatement Effective Date, the Administrative Agent shall
have received a solvency certificate from the chief financial officer of the Company in the form of Exhibit L. 

(p)      Notice of Borrowing. Prior to the making of the New Loans, the Administrative Agent shall
have received a Notice of Borrowing meeting the requirements of Section 2.03(a). 

(q)      Notes. There shall have been delivered to the Administrative Agent for the account of each
of the Lenders requesting them the appropriate Notes in each case executed by the Company and in the amount, maturity and as otherwise provided herein. 
 (r)      Mortgages. With respect to all Real Property owned by the Company or any of its Domestic Subsidiaries not already subject to a Mortgage, the Company will
execute and deliver, or will cause the applicable Credit Party to execute and deliver (or with respect to clause (v) below, the Collateral Agent shall have received): 

(i)      fully executed and notarized counterparts of Mortgages, which Mortgages shall
cover all of the Real Property owned by the Company or any of its Domestic Subsidiaries as designated on Schedule 5(r) and not subject to a Mortgage prior to the Restatement Effective Date (each, a “New Mortgaged Property” and
collectively, the “New Mortgaged Properties”), together with evidence that counterparts of the Mortgages and corresponding UCC fixture filings have been delivered to the title insurance company insuring the Lien of the Mortgages for
recording in all places to the extent necessary or, in the reasonable opinion of the Collateral Agent, desirable to effectively create a valid and enforceable First Priority mortgage lien on each New Mortgaged Property in favor of the Collateral
Agent (or such other trustee as may be required or desired under local law) for the benefit of the Secured Creditors; 
 (ii)      mortgagee title insurance policies or marked-up unconditional binders for such insurance (and evidence of payment in full by the Company of any premiums, costs and
expenses related thereto, including without limitation recording taxes and filing fees) in connection with the New Mortgaged Properties issued by First American Title Insurance Company or such other title insurers reasonably satisfactory to the
Collateral Agent, (the “Mortgage Policies”) in amounts reasonably satisfactory to the Collateral Agent assuring the Collateral Agent that the respective Mortgages on such new Mortgaged Properties are valid and enforceable First Priority
mortgage liens on the respective New Mortgaged Properties, free and clear of all defects and encumbrances except Permitted Encumbrances and such Mortgage Policies shall otherwise be in form and substance reasonably satisfactory to the Collateral
Agent and shall include, as appropriate, endorsements for any matter that the Collateral Agent in its discretion may reasonably request, including without limitation a zoning endorsement (or in lieu thereof, a zoning report in form and substance
reasonably acceptable to the Collateral Agent), and shall not include an exception for mechanics’ liens unless such liens would constitute Permitted Encumbrances, and shall provide for affirmative insurance and such reinsurance
(including direct access agreements) as the Collateral Agent in their discretion may reasonably request;; 

(iii)      if requested by the Collateral Agent, surveys in form and substance reasonably
satisfactory to the Collateral Agent of each New Mortgaged Property dated a recent date acceptable to the Collateral Agent, certified in a manner reasonably satisfactory to the Collateral Agent by a licensed professional surveyor satisfactory to the
Collateral Agent; 

  
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 (iv)      a completed “Life-of-Loan”
Federal Emergency Management Agency Standard Flood Hazard Determination, and for any New Mortgaged Property on which improvements are located in a special flood hazard area, (x) a notice about special flood hazard area status and flood disaster
assistance duly executed by the applicable Credit Parties and (y) certificates of insurance evidencing the insurance required by Section 7.03(c) in form and substance satisfactory to the Administrative Agent; 

(v)      from local counsel to the Company and its Subsidiaries reasonably satisfactory to
the Administrative Agent, opinions addressed to the Administrative Agent, the Collateral Agent and each of the Lenders, each of which shall be in form and substance reasonably satisfactory to the Administrative Agent and shall cover the liens
granted pursuant to the Mortgages and such other matters incident to the transactions contemplated herein and in the other Credit Documents as the Administrative Agent may reasonably request; and 

(vi)      with respect to each Mortgaged Property, such consents, approvals, amendments,
supplements, estoppels, tenant subordination agreements or other instruments as necessary to consummate the Transactions or as shall reasonably be deemed necessary by the Collateral Agent in order for the owner or holder of the fee or leasehold
interest constituting such Mortgaged Property to grant the Lien contemplated by the Mortgage with respect to such Mortgaged Property. 
 (s)      Amended and Restated Mortgages, Etc. With respect to all of the Real Property owned by the Company or any of its Domestic Subsidiaries as designated on
Schedule 5(s) and subject to a Mortgage prior to the Restatement Effective Date (each, an “Existing Mortgaged Property” and collectively, the “Existing Mortgaged Properties”), the Collateral Agent shall have received each of the
following, in form and substance reasonably satisfactory to the Agent: 

(i)      an amended and restated Mortgage encumbering such Existing Mortgaged Property,
duly executed and acknowledged by the applicable Credit Party and in form and substance reasonably satisfactory to the Collateral Agent; 
 (ii)      to the extent reasonably requested by the Collateral Agent, a UCC-3 fixture filing amendment with respect to each UCC-1 fixture filing filed with respect to such
Existing Mortgaged Property; 
 (iii)      date down endorsement to the existing
mortgagee’s title insurance policy or, if not available, a new Mortgage Policy, disclosing no additional liens or title exceptions against such Existing Mortgaged Property other than Permitted Encumbrances, extending the date of such
mortgagee’s title insurance policy to the date of recordation of such amended and restated Mortgage, and providing assurance reasonably satisfactory to the Collateral Agent that the lien on such Existing Mortgaged Property in favor of the
Collateral Agent shall continue to have the enforceability and priority in effect immediately prior to the Restatement Effective Date and shall be in form and substance reasonably acceptable to the Collateral Agent; 

(iv)      evidence of payment of all applicable filing, documentary, stamp, intangible,
mortgage and recording taxes, recording and filing fees, and title insurance premiums and fees in connection with the matters set forth in clauses (i), (ii) and (iii) above; 

(v)      a completed “Life-of-Loan” Federal Emergency Management Agency Standard
Flood Hazard Determination and, for any Existing Mortgaged Property on which improvements are located in a special flood hazard area, (x) a notice about special 

  
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flood hazard area status and flood disaster assistance duly executed by the applicable Credit Parties and (y) certificates of insurance evidencing the insurance required by
Section 7.03(c) in form and substance satisfactory to the Administrative Agent; 

(vi)      copies of, or certificates as to coverage under, the insurance policies required
by Section 7.03 naming the Administrative Agent as additional insured, loss payee and mortgagee, as applicable, and otherwise in form and substance satisfactory to the Administrative Agent; and 

(vii)      from local counsel to the Company and its Subsidiaries reasonably satisfactory
to the Administrative Agent, opinions addressed to the Administrative Agent, the Collateral Agent and each of the Lenders, each of which shall be in form and substance reasonably satisfactory to the Administrative Agent and shall cover the liens
granted pursuant to the amended and restated Mortgages and such other matters incident to the transactions contemplated herein and in the other Credit Documents as the Administrative Agent may reasonably request. 

SECTION 6.      Representations and Warranties. In order to induce the Lenders to enter into this
Agreement and to make the Loans as provided herein, the Company makes the following representations and warranties, on behalf of itself and its Subsidiaries, in each case after giving effect to the Transaction consummated on the Restatement
Effective Date, with the occurrence of each Credit Event on the Restatement Effective Date being deemed to constitute a representation and warranty that the matters specified in this Section 6 are true and correct in all material respects
(except that any representation or warranty that is qualified by its terms as to materiality or as to a Material Adverse Effect shall be true and correct in all respects) on and as of the date when made (it being understood and agreed that any
representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in all material respects (except that any representation or warranty that is qualified by its terms as to materiality or as to a
Material Adverse Effect shall be true and correct in all respects) only as of such specified date): 

6.01      Status. Each of the Company and its Subsidiaries (i) is a duly organized and validly
existing corporation, limited partnership or limited liability company in good standing under the laws of the jurisdiction of its organization, except where the failure to be in good standing could not reasonably be expected to have a Material
Adverse Effect, (ii) has the corporate, limited partnership or company power and authority to own its property and assets and to transact the business in which it is engaged and presently proposes to engage and (iii) is duly qualified and
is authorized to do business and is in good standing in each jurisdiction where the conduct of its business requires such qualifications except for failures to be so qualified which, either individually or in the aggregate, could not reasonably be
expected to have a Material Adverse Effect. 
 6.02      Power and Authority. Each Credit
Party has the corporate, limited partnership or limited liability company power and authority to execute, deliver and perform the terms and provisions of each of the Documents to which it is party and has taken all necessary corporate, partnership
or limited liability company action to authorize the execution, delivery and performance by it of each such Document. Each Credit Party has duly executed and delivered each of the Documents to which it is party, and each such Document constitutes
the legal, valid and binding obligation of such Credit Party enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium and other similar laws relating to or
affecting creditors’ rights generally, general equitable principles (regardless of whether considered in proceedings in equity or at law) and an implied covenant of good faith and fair dealing. 

  
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 6.03      No Violation. Neither the execution, delivery
or performance by any Credit Party of the Documents to which it is a party, nor compliance by it with the terms and provisions thereof, (i) will contravene any provision of any applicable law, statute, rule or regulation or any applicable order,
writ, injunction or decree of any court or governmental instrumentality, (ii) will conflict with, or result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or
imposition of (or the obligation to create or impose) any Lien (except pursuant to the Security Documents and the ABL Security Documents) upon any of the properties or assets of the Company or any of its Subsidiaries pursuant to the terms of any
indenture, mortgage, deed of trust, credit agreement or loan agreement, or any other material agreement, contract or instrument, to which the Company or any of its Subsidiaries is a party or by which it or any of its property or assets is bound or
to which it may be subject or (iii) will violate any provision of the certificate of incorporation or by-laws or other organizational documents, as applicable, of the Company or any of its Subsidiaries. 

6.04      Governmental Approvals. No order, consent, approval, license, authorization or validation
of, or filing, recording or registration with, or exemption by, any governmental or public body or authority, or any subdivision thereof, is required (i) to authorize, or is required in connection with, the execution, delivery and performance
of any Document by any Credit Party or (ii) to ensure the legality, validity, binding effect or enforceability of any such Document with respect to any Credit Party, except those (A) which have been obtained or made, (B) the absence
of which, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect or (C) for filings and recordings required to perfect the security interests created under the Security Document and, the ABL
Security Documents. 
 6.05      Financial Statements; Financial Condition; Undisclosed
Liabilities; Projections; etc. 
 (a)      (i) The audited consolidated balance sheet of
(x) the Company and its Subsidiaries for the fiscal year of the Company ended November 30, 2009 and the related consolidated statements of income, cash flows and shareholders’ equity of the Company and its Subsidiaries for such fiscal
year, and (y) the Acquired Business and its Subsidiaries for the fiscal year of the Acquired Business ended December 31, 2009 and the related consolidated statements of income, cash flows and shareholders’ equity of the Acquired
Business and its Subsidiaries for such fiscal year, and (ii) the unaudited consolidated balance sheet of (x) the Company and its Subsidiaries for the three fiscal quarters of the Company ended August 31, 2010 and the related
consolidated statements of income and cash flows of the Company and its Subsidiaries for such fiscal quarters and (y) the Acquired Business and its Subsidiaries for the eight months of the Acquired Business ended August 31, 2010 and the
related consolidated statements of income and cash flows of the Acquired Business and its Subsidiaries for such fiscal period, copies of which in each case have been furnished to the Administrative Agent and each Lender prior to the Restatement
Effective Date, present fairly in all material respects the consolidated financial condition of the Company and its Subsidiaries or the Acquired Business and its Subsidiaries, as the case may be, at the dates of said financial statements and the
results for the periods covered thereby, subject, in the case of the unaudited financial statements, to normal year-end adjustments. All such financial statements have been prepared in accordance with generally accepted accounting principles
consistently applied, except to the extent provided in the notes to said financial statements. 

(b)      On and as of the Restatement Effective Date, on a pro forma basis after giving
effect to the Transaction and to all Indebtedness incurred, and to be incurred (including, without limitation, the Loans and the additional ABL Loans, if any) and Liens created, and to be created, by each Credit Party in connection therewith, with
respect to each of (i) the Company and its Subsidiaries (on a consolidated basis) and (ii) the Acquired Business and its Subsidiaries (on a consolidated basis), (x) the sum of the assets, at Fair Value, of each of the Company and its
Subsidiaries (on a consolidated basis) or 

  
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the Acquired Business and its Subsidiaries (on a consolidated basis), as the case may be, will exceed their debts, (y) they have not incurred nor intended to, nor believe that they will,
incur debts beyond their ability to pay such debts as such debts mature and (z) they will have sufficient capital with which to conduct their business. For purposes of this Section 6.05(b), (A) “debt” means any liability on
a claim, and “claim” means (i) right to payment whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or
(ii) right to an equitable remedy for breach of performance if such breach gives rise to a payment, whether or not such right to an equitable remedy is reduced to judgment, fixed contingent, matured, unmatured, disputed, undisputed, secured or
unsecured, and (B) the amount of any contingent liability at any time shall be computed as the amount that, in light of all facts and circumstances existing at such time (including after giving effect to any claims of contribution, subrogation
or other reimbursement rights), can reasonably be expected to become a liquidated, matured and fixed liability to the extent such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standards No. 5.

 (c)      The pro forma consolidated balance sheet of the Company as of
August 31, 2010 as reflected in the Confidential Information Memorandum, a copy of which has heretofore been furnished to each Lender, presents good faith estimate of the consolidated pro forma financial condition of the Company
after giving effect to the Transaction at the date thereof. 
 (d)      The Projections are based
on good faith estimates and assumptions made by the management of the Company, and on the Restatement Effective Date such management believed that the Projections were reasonable and attainable, it being recognized by the Lenders, however, that
projections as to future events are not to be viewed as facts and that the actual results during the period or periods covered by the Projections probably will differ from the projected results and that the differences may be material. 

(e)      Except (i) as fully disclosed in the financial statements referred to in
Section 6.05(a)(i) and (ii) for the Indebtedness permitted pursuant to Section 8.04, there were as of the Restatement Effective Date no liabilities or obligations with respect to the Company, the Acquired Business or any of their
respective Subsidiaries of any nature whatsoever (whether absolute, accrued, contingent or otherwise and whether or not due) which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. As of the
Restatement Effective Date and except for the Indebtedness permitted pursuant to Section 8.04, the Company knows of no reasonable basis for the assertion against it, the Acquired Business or any of their respective Subsidiaries of any liability
or obligation of any nature whatsoever that is not fully disclosed in the financial statements referred to in Section 6.05(a) which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

 (f)      After giving effect to the Transaction, since November 30, 2009, there has been
no change in the condition (financial or otherwise), business, operations, assets or liabilities of the Company or any of its Subsidiaries that has had, or could reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. 
 6.06      Litigation. There are no actions, suits or proceedings pending
or, to the best knowledge of the Company or any of its Subsidiaries, threatened (i) with respect to any Document or (ii) that could reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect.

 6.07      True and Complete Disclosure. All factual information (taken as a whole)
furnished by or on behalf of the Company or any of its Subsidiaries in writing to the Administrative 

  
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Agent or any Lender (including, without limitation, all information contained in the Credit Documents) for purposes of or in connection with this Agreement, the other Credit Documents or any
transaction contemplated herein or therein is true and accurate in all material respects on the date as of which such information is dated or certified and not incomplete by omitting to state any fact necessary to make such information (taken as a
whole) not misleading in any material respect at such time in light of the circumstances under which such information was provided. 
 6.08    Use of Proceeds; Margin Regulations. 

(a)        All proceeds of Loans shall be used by the Company (i) to finance the Acquisition
and the Refinancing, (ii) for working capital and general corporate purposes and (iii) to pay fees and expenses in connection with the foregoing. 
 (b)       The proceeds of Incremental Loans shall be utilized for the general corporate purposes of the Company and its Subsidiaries (including, without limitation, to
finance Permitted Acquisitions, to pay fees and expenses in connection therewith and to prepay or repay the ABL Loans and other Indebtedness to the extent permitted by this Agreement). 

(c)       No part of the proceeds of any Loan or Incremental Loan will be used to purchase or carry
any Margin Stock or to extend credit for the purpose of purchasing or carrying any Margin Stock. The making of any Loan or Incremental Loan and the use of the proceeds thereof will not violate or be inconsistent with the provisions of Regulation T,
U or X of the Board of Governors of the Federal Reserve System. 
 6.09    Tax Returns and Payments.
Each of the Company and each of its Subsidiaries has timely filed or caused to be timely filed (including pursuant to any valid extensions of time for filing) with the appropriate taxing authority, all material returns, statements, forms and reports
for taxes (the “Returns”) required to be filed by or with respect to the income, properties or operations of each of the Company and its Subsidiaries, as the case may be. The Returns accurately reflect in all material respects all
liability for taxes of the Company and its Subsidiaries as a whole for the periods covered thereby. Each of the Company and its Subsidiaries have paid all material taxes payable by them (including in its capacity as withholding agent) which have
become due other than those contested in good faith and for which adequate reserves have been established in accordance with generally accepted accounting principles and which would not individually or in the aggregate cause a Material Adverse
Effect. There is no action, suit, proceeding, investigation, audit, or claim now pending regarding any material taxes relating to the Company or any of its Subsidiaries. As of the Restatement Effective Date, neither the Company nor any of its
Subsidiaries has entered into an agreement or waiver or been requested to enter into an agreement or waiver extending any statute of limitations relating to the payment or collection of any material taxes of the Company or any of its Subsidiaries.
None of the Company or any of its Subsidiaries has incurred, or will incur, any material tax liability in connection with the Transaction or any other transactions contemplated hereby (it being understood that the representation contained in this
sentence does not cover any future tax liabilities of the Company or any of its Subsidiaries arising as a result of the operation of their businesses in the ordinary course of business). The Company and each of its Subsidiaries have made adequate
provision in accordance with GAAP for all material Taxes not yet due and payable. Neither the Company nor any of its Subsidiaries have ever been a party to any understanding or arrangement constituting a “tax shelter” within the meaning of
Section 6111(c), Section 6111(d) or Section 6662(d)(2)(C)(iii) of the Code, or has ever “participated” in a “reportable transaction” within the meaning of Treasury Regulation Section 1.6011-4, except as could
not be reasonably expected to, individually or in the aggregate, result in a Material Adverse Effect. 

6.10    ERISA; Foreign Pension Plans. 

  
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 (a)       No ERISA Event has occurred or is reasonably
expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to have a Material Adverse Effect. The Company and its Subsidiaries are in compliance in
all material respects with the presently applicable provisions of ERISA and the Code with respect to each Employee Benefit Plan. Using actuarial assumptions and computation methods consistent with subpart 1 of subtitle E of Title IV of ERISA, the
aggregate liabilities of the Company and each ERISA Affiliate to all Multiemployer Plans in the event of a complete withdrawal therefrom, as of the close of the most recent fiscal year of each such Multiemployer Plan, would not reasonably be
expected to result in a Material Adverse Effect. 
 (b)       Each Foreign Pension Plan has
been maintained in compliance with its terms and with the requirements of any and all applicable laws, statutes, rules, regulations and orders and has been maintained, where required, in good standing with applicable regulatory authorities except to
the extent that the failure to comply therewith would not reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any of its Subsidiaries has incurred any obligation in an amount that would reasonably be expected to
result in a Material Adverse Effect in connection with the termination of or withdrawal from any Foreign Pension Plan. 

6.11    The Security Documents. 
 (a)       The provisions of the Security Agreement are effective to create in favor of the Collateral Agent for the benefit of the Secured Creditors a legal, valid and
enforceable security interest in, and/or Lien on, all right, title and interest of each Credit Party in all of the Security Agreement Collateral described therein, and each Security Agreement (upon satisfaction of any filing or other requirements
set forth therein) creates a fully perfected First Priority Lien on, and/or security interest in, all right, title and interest of such Credit Party in all of the Security Agreement Collateral described therein to the extent the Security Agreement
Collateral consists of the type of property in which a security interest may be perfected by filing a financing statement under the UCC, subject to no other Liens other than Permitted Liens (and subject to the terms of the ABL/Term Loan
Intercreditor Agreement). The recordation of the Assignment of Security Interest in U.S. Patents and Trademarks in the form attached to the Security Agreement in the United States Patent and Trademark Office together with filings on Form UCC-1 made
pursuant to the Security Agreement will be effective, under applicable law, to perfect the security interest granted to the Collateral Agent in the trademarks and patents covered by the Security Agreement. 

(b)       The security interests created in favor of the Collateral Agent, as Pledgee, for the benefit
of the Secured Creditors under the Pledge Agreement constitute (upon satisfaction of any filing, delivery or other requirements in respect of the stock issued by any Foreign Subsidiary) first priority perfected security interests in the Pledged
Securities (assuming, in respect of certificated stock and securities constituting promissory notes, the Collateral Agent’s continuous possession thereof) described in the Pledge Agreement, subject to no security interests of any other Person
(other than Permitted Liens (and subject to the terms of the ABL/Term Loan Intercreditor Agreement) described in clauses (y) and (z) of Section 8.01(v)). Except as provided in the immediately preceding sentence, no filings or recordings
are required in order to perfect (or maintain the perfection or priority of) the security interests created in the Pledged Securities and the proceeds thereof under the Pledge Agreement (other than filings of proper UCC-1 Financing Statements in
respect of the Pledged Securities constituting promissory notes and uncertificated equity interests, which filings have been made). 
 (c)       Each of the Mortgages will create, upon the filing thereof, as security for the obligations purported to be secured thereby, a valid and enforceable (upon
satisfaction of any filing or other requirements set forth therein) and perfected first priority mortgage lien and security interest in the 

  
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respective Mortgaged Property in favor of the Collateral Agent (or such other trustee as may be required or desired under local law) for the benefit of the Secured Creditors, superior to and
prior to the rights of all third Persons and subject to no other Liens (except Permitted Encumbrances). 

6.12    Properties; No Recovery Event. (a) All Real Property owned or leased by the Company or any of its
Domestic Subsidiaries as of the Restatement Effective Date, and the nature of the interest therein, is set forth in Schedule 6.12. Each of the Company and each of its Subsidiaries has good and marketable title to all material properties owned by it,
and a valid leasehold interest in all material property leased by it, including (in each case) all material property reflected in the most recent historical balance sheets referred to in Section 6.05(a) (except as sold or otherwise disposed of
since the date of such balance sheet in the ordinary course of business or as permitted by the terms of this Agreement), free and clear of all Liens, other than Permitted Encumbrances. (b) Neither the Company nor any Subsidiary has received any
notice of, nor has any knowledge of, the occurrence or pendency or contemplation of any casualty or condemnation affecting all or any portion of its property. 
 6.13    Capitalization. On the Restatement Effective Date, the authorized capital stock of the Company is as disclosed in the Company’s Form 10-K for the fiscal year ended
November 30, 2009. All such outstanding capital stock has been duly and validly issued and, except as set forth on Schedule 6.13, are free of preemptive rights and subject to no security interests of any other Person (other than Permitted
Liens). Except as set forth on Schedule 6.13, neither the Company nor any of its Subsidiaries has outstanding any securities convertible into or exchangeable for its membership interests or outstanding any rights to subscribe for or to purchase, or
any options for the purchase of, or any agreements providing for the issuance (contingent or otherwise) of, or any calls, commitments or claims of any character relating to, its membership interests. 

6.14    Subsidiaries. Schedule 6.14 lists each Subsidiary of the Company, and the direct and indirect
ownership interest of the Company therein, in each case as of the Restatement Effective Date. 

6.15    Compliance with Statutes, etc. Each of the Company and each of its Subsidiaries is in compliance with
all applicable statutes, regulations and orders of, and all applicable restrictions imposed by, all governmental bodies, domestic or foreign, in respect of the conduct of its business and the ownership of its property, except such noncompliances as
could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

6.16    Investment Company Act. Neither the Company nor any of its Subsidiaries is an “investment
company” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended. 
 6.17    Environmental Matters. 

(a)       Each of the Company and each of its Subsidiaries, their respective operations and Real
Property is in compliance with and has no liability under Environmental Law, and has obtained and is in compliance with the requirements of any permits issued under such Environmental Law. There is no past, pending or, to the best knowledge of the
Company or any of its Subsidiaries, threatened Environmental Claim against the Company or any of its Subsidiaries or any Real Property currently or, to the best knowledge of the Company or any of its Subsidiaries, previously owned, leased or
operated by the Company or any of its Subsidiaries or any of their respective predecessors in interest. There are no facts, circumstances, conditions or occurrences on any Real Property currently owned, leased or operated by the Company or any of
its Subsidiaries or, to the best knowledge of the Company or any of its Subsidiaries, on any formerly owned or operated Real Property or any property adjoining or in the vicinity 

  
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of any currently owned or operated Real Property that could reasonably be expected (i) to result in any non-compliance with any Environmental Law, or to form the basis of an Environmental
Claim against the Company or any of its Subsidiaries or any currently owned or operated Real Property or (ii) to cause any such Real Property to be subject to any material restrictions on the ownership, occupancy, use or transferability of such
Real Property by the Company or any of its Subsidiaries under Environmental Law. 

(b)       Neither the Company nor any of its Subsidiaries is obligated to perform any action or
otherwise incur any expense under Environmental Law pursuant to any order, decree, judgment or agreement by which it is bound or has assumed by contract, agreement or operation of law, and none of them are conducting or financing any response action
or other corrective action pursuant to Environmental Law with respect to any Real Property or any other location. 

(c)       No person with an indemnity or contribution obligation to the Company or any of its
Subsidiaries relating to compliance with or liability under Environmental Law is in default with respect to such obligation. 

(d)       The execution, delivery and performance of this Agreement and the consummation of the
transactions contemplated hereby will not require any notification, registration, filing, reporting, disclosure, remediation or cleanup pursuant to any Environmental Law. 
 (e)       Notwithstanding anything to the contrary in this Section 6.17, the representa-tions made in this Section 6.17 shall only be untrue if the effect of
all violations, claims, restrictions, failures, noncompliance, liabilities and other circumstances of the types described above could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

6.18    Labor Relations. Except as disclosed on Schedule 6.18, as of the Restatement Effective Date
(a) there is no collective bargaining agreement or other labor contract covering employees of the Company or any of its Subsidiaries, (b) no such collective bargaining agreement or other labor contract is scheduled to expire during the
term of this Agreement, (c) to the best of the Company’s knowledge, no union or other labor organization is seeking to organize, or to be recognized as, a collective bargaining unit of employees of the Company or any of its Subsidiaries or
for any similar purpose, (d) there is no pending or (to the best of the Company’s knowledge) threatened, strike or work stoppage and (e) there is no pending or (to the best of the Company’s knowledge) threatened unfair labor
practice claim, or other labor dispute against or affecting the Company or its Subsidiaries or their employees that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

6.19    Patents, Licenses, Franchises and Formulas. Each of the Company and each of its Subsidiaries owns all
patents, trademarks, permits, service marks, trade names, copyrights, licenses, franchises and formulas, or rights with respect to the foregoing, and has obtained assignments of all licenses and other rights of whatever nature, necessary for the
present and proposed conduct of its business, without any known conflict with the rights of others except, with respect to any matter specified in this Section 6.19, as could not reasonably be expected, either individually or in the aggregate,
to have a Material Adverse Effect. 
 6.20    Indebtedness. Schedule 5(k)(vi) sets forth a true and
complete list of all indebtedness for borrowed money (other than (i) Intercompany Loans, (ii) the Obligations, (iii) the Senior Notes and (iv) the ABL Loans) and related obligations of the Company and its Subsidiaries as of the
Restatement Effective Date and which is to remain outstanding after giving effect to the Transaction, in each case showing the aggregate principal amount thereof and the name of the respective borrower and any other entity which directly or
indirectly guaranteed such debt. 

  
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 6.21    Representations and Warranties in Documents. All
representations and warranties of each Credit Party set forth in the Documents were true and correct in all material respects as of the time such representations and warranties were made and shall be true and correct in all material respects as of
the Restatement Effective Date as if such representations and warranties were made on and as of such date, unless stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all
material respects as of such earlier date. 
 6.22    Insurance. Set forth on Schedule 6.22 hereto is
a true, correct and complete summary of all insurance carried by each Credit Party on and as of the Restatement Effective Date, with the amounts insured set forth therein. 
 6.23    Anti-Terrorism Laws. 

(a)       No Credit Party, none of its Subsidiaries and, to the knowledge of each Credit Party, none
of its Affiliates and none of the respective officers, directors, brokers or agents of such Credit Party, such Subsidiary or Affiliate (i) has violated or is in violation of Anti-Terrorism Laws or (ii) has engaged or engages in any
transaction, investment, undertaking or activity that conceals the identity, source or destination of the proceeds from any category of offenses designated in the “Forty Recommendations” and “Nine Special Recommendations”
published by the Organisation for Economic Cooperation and Development’s Financial Action Task Force on Money Laundering. 

(b)       No Credit Party, none of its Subsidiaries and, to the knowledge of each Credit Party, none
of its Affiliates and none of the respective officers, directors, brokers or agents of such Credit Party, such Subsidiary or such Affiliate that is acting or benefiting in any capacity in connection with the Loans is an Embargoed Person. 

(c)       No Credit Party, none of its Subsidiaries and, to the knowledge of each Credit Party, none
of its Affiliates and none of the respective officers, directors, brokers or agents of such Credit Party, such Subsidiary or such Affiliate acting or benefiting in any capacity in connection with the Loans (i) conducts any business or engages
in making or receiving any contribution of funds, goods or services to or for the benefit of any Embargoed Person, (ii) deals in, or otherwise engages in any transaction related to, any property or interests in property blocked pursuant to any
Anti-Terrorism Law or (iii) engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law. 

SECTION 7. Affirmative Covenants. The Company hereby covenants and agrees for itself and each of its Subsidiaries that on and
after the Restatement Effective Date, after giving effect to the Transaction, and until the Total Commitment has terminated and the Loans and Notes, together with interest, Fees and all other Obligations are paid in full: 

7.01    Information Covenants. The Company will furnish to the Administrative Agent (which shall promptly
distribute a copy to each Lender): 
 (a)       Quarterly Financial
Statements. Within 45 days after the close of the first three quarterly accounting periods in each fiscal year of the Company, commencing with the period ending February 28, 2011, the consolidated balance sheet of the Company and its
Subsidiaries as at the end of each such quarterly accounting period and the related consolidated statement of income and the related consolidated statement of cash flows for each such quarterly accounting period and for the elapsed portion of the
fiscal year ended with the last day of each such quarterly accounting period (other than the fourth quarterly accounting period), setting forth comparative figures for the related periods in the prior fiscal year, all of which shall be in reasonable
detail and 

  
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certified by the chief financial officer or treasurer of the Company that they fairly present in all material respects the financial condition of the Company and its Subsidiaries as of the dates
indicated and the results of their operations and changes in their cash flows for the periods indicated, subject to normal year-end audit adjustments and shall be accompanied by a management discussion and analysis of the results of operations and
financial condition with respect to such period. 
 (b)      Annual Financial
Statements. Within 90 days after the close of each fiscal year of the Company, commencing with the period ending November 30, 2010, the consolidated balance sheet of the Company and its Subsidiaries as at the end of such fiscal year and the
related consolidated statement of income and the related consolidated statement of cash flows for such fiscal year setting forth comparative figures for the preceding fiscal year and certified by Ernst & Young LLP, any other independent
registered public accountants or such other independent registered public accountants of recognized national standing reasonably acceptable to the Administrative Agent. 

(c)      Budgets. No later than 90 days after the close of each fiscal year of the
Company, a budget in form reasonably satisfactory to the Administrative Agent (including budgeted statements of income and cash flows and balance sheets) prepared by the Company for (x) each monthly accounting period in such fiscal year and
(y) such fiscal year prepared in summary form, in each case, of the Company and its Subsidiaries, accompanied by the statement of the chief financial officer or treasurer of the Company to the effect that, to the best of such officer’s
knowledge, the budget is a reasonable estimate of the period covered thereby. Additionally, within 60 days after the consummation of each Permitted Acquisition for which the aggregate consideration (i.e., the aggregate amount of cash, the
Company’s common equity (or options or warrants therefore) paid equals or exceeds $50,000,000, a revised budget in the form described above taking into account the effects of such Permitted Acquisition on the budget for the remainder of the
fiscal year covered by the original budget. 
 (d)      Officers’
Certificates. At the time of the delivery of the financial statements provided for in Sections 7.01(a) and (b), a certificate of the chief financial officer or treasurer of the Company to the effect that no Default or Event of Default has
occurred and is continuing or, if any Default or Event of Default has occurred and is continuing, specifying the nature and extent thereof, which certificate shall, if delivered with the financial statements required by Section 7.01(b), set
forth the amount of (and the calculations required to establish) Excess Cash Flow for the respective Excess Cash Payment Period. 
 (e)      Management Letters. Promptly after the Company or any of their Subsidiaries’ receipt thereof, a copy of any “management letter” received by the
Company or such Subsidiary from its independent registered public accountants and the management’s responses thereto (other than reports of a routine or ministerial nature which are not material). 

(f)      Notice of Default and Litigation. Promptly, and in any event within five
Business Days after an officer of the Company or any of its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence of any event which constitutes a Default or an Event of Default (provided such Default or Event of Default
is continuing) and (ii) any litigation or governmental investigation or proceeding pending or threatened (x) against the Company or any of its Subsidiaries which, either individually or in the aggregate, could reasonably be expected to
have a Material Adverse Effect or (y) with respect to any Document. 

(g)      Other Reports and Filings. Prompt notice of the filing of all financial
information, proxy materials and other information and reports, if any, which the Company or any of its 

  
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Subsidiaries shall file with the SEC or deliver to lenders under the ABL Credit Agreement (or any trustee, Administrative Agent or other representative therefor) and not otherwise required to be
delivered hereunder. If filings with the SEC are not electronically available, the Company and its Subsidiaries will promptly provide copies of the same to the Administrative Agent. 

(h)      Environmental Matters. Promptly upon, and in any event within fifteen
Business Days after, an officer of the Company or any of their Subsidiaries obtains knowledge thereof, notice of one or more of the following environmental matters, unless such environmental matters could not, individually or when aggregated with
all other such environmental matters taken together with any and all exceptions to the representations and warranties set forth in Section 6.17, be reasonably expected to have a Material Adverse Effect; provided that in any event the
Company and its Subsidiaries shall deliver to the Administrative Agent all material notices relating to such material matters received by the Company or any of its Subsidiaries from any government or governmental agency under, or pursuant to,
CERCLA: 
 (i)      any pending or threatened (in writing) Environmental Claim
against the Company or any of its Subsidiaries or any Real Property owned, leased or operated by the Company or any of its Subsidiaries; 
 (ii)      any condition or occurrence on, or arising from, any Real Property owned, leased or operated by the Company or any of its Subsidiaries that (a) results in
noncompliance by the Company or any of its Subsidiaries with any applicable Environmental Law or (b) could reasonably be expected to form the basis of an Environmental Claim against the Company or any of its Subsidiaries or any such Real
Property; 
 (iii)      any condition or occurrence on any Real Property owned or
operated by the Company or any of its Subsidiaries that could reasonably be expected to cause such Real Property to be subject to any restrictions on the ownership, occupancy, use or transferability by the Company or any of its Subsidiaries of such
Real Property under any Environmental Law; and 
 (iv)      the taking or
financing of any investigatory response or other corrective action to the actual or alleged presence or Release or threat of Release of any Hazardous Material on, at, under or from any Real Property owned, leased or operated by the Company or any of
its Subsidiaries, or by the Company or any of its Subsidiaries on any third-party site, in each case as required by any Environmental Law or any Governmental Authority. 
 All such notices shall describe in reasonable detail the nature of the claim, investigation, condition, occurrence or response or other corrective action and the Company’s or such Subsidiary’s
response thereto. 
 (i)      Annual Meetings with Lenders. At the request
of the Administrative Agent, the Company shall, once during each fiscal year of the Company, hold a meeting or conference call (at a mutually agreeable location and time) with all of the Lenders at which meeting or conference call the financial
results of the previous fiscal year and the financial condition of the Company and the budgets presented for the current fiscal year shall be reviewed. 
 (j)      Other Information. From time to time, such other information or documents (financial or otherwise) with respect to the Company or any of its Subsidiaries as
the Administrative Agent or any Lender may reasonably request. 

  
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 7.02      Books, Records and Inspections. The Company
will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries in conformity with generally accepted accounting principles (or the comparable foreign equivalent thereof) and all
requirements of law shall be made of all material dealings and transactions in relation to its business and activities. The Company will, and will cause each of its Subsidiaries to, permit officers and designated representatives of the
Administrative Agent or any of its agents or consultants (a) to visit and inspect, during regular business hours and under guidance of officers of the Company or such Subsidiary, any of the properties of the Company or any of its Subsidiaries
and (b) to examine the books of account of the Company and any of its Subsidiaries and discuss the affairs, finances and accounts of the Company and any of its Subsidiaries with, and be advised as to the same by, its and their officers and
independent accountants all at such reasonable times and intervals, upon such reasonable notice and to such reasonable extent as the Administrative Agent or such Lender may request. 

7.03      Maintenance of Property; Insurance. 

(a)      The Company will, and will cause each of its Subsidiaries to, (i) keep all material property
necessary and useful in its business in good working order and condition, (ii) maintain insurance on its property with reputable and solvent insurance companies in at least such amounts and against at least such risks as is consistent and in
accordance with industry practice and (iii) furnish to each Lender, upon written request, full information as to the insurance carried. 
 (b)      The Company will, and will cause each of its Subsidiaries to, at all times keep their respective property in which a Lien has been granted to the Collateral Agent
insured in favor of the Collateral Agent, and all policies (including the Mortgage Policies) or certificates (or certified copies thereof) with respect to such insurance (and any other insurance maintained by the Company or any such Subsidiary)
(i) shall be endorsed to the Collateral Agent’s reasonable satisfaction for the benefit of the Collateral Agent (including, without limitation, by naming the Collateral Agent as loss payee (with respect to Collateral) or, to the extent
permitted by applicable law, as an additional insured), (ii) shall state that such insurance policies shall not be canceled without 30 days’ prior written notice thereof (or 10 days’ prior written notice in the case of cancellation
for the non-payment of premiums) by the respective insurer to the Collateral Agent and (iii) shall be deposited with the Collateral Agent. 
 (c)      If the Company or any of its Subsidiaries shall fail to maintain all insurance in accordance with this Section 7.03, or if the Company or any of its
Subsidiaries shall fail to so endorse and deposit all policies or certificates with respect thereto, the Administrative Agent and/or the Collateral Agent shall have the right (but shall be under no obligation), upon notice to the Company, to procure
such insurance, and the Company agree to reimburse the Administrative Agent or the Collateral Agent, as the case may be, for all costs and expenses of procuring such insurance. Without limiting the generality of the foregoing, Company will maintain
or cause to be maintained (i) flood insurance with respect to each Flood Hazard Property that is located in a community that participates in the National Flood Insurance Program, in each case in compliance with any applicable regulations of the
Board of Governors of the Federal Reserve System. 
 7.04      Maintenance of Existence;
Intellectual Property. The Company will, and will cause each of its Subsidiaries to, do or cause to be done all things necessary to preserve and keep in full force and effect its existence, its material rights and ability to conduct businesses
as currently conducted, licenses, trademarks, copyrights and patents; provided, however, that nothing in this Section 7.04 shall prevent (i) transactions permitted by Section 8.02 or (ii) the withdrawal by the
Company or any of its Subsidiaries of qualification as a foreign corporation in any jurisdiction where such withdrawal could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 7.05      Compliance with Statutes, etc. The Company
will, and will cause each of its Subsidiaries to, comply with all applicable statutes, regulations and orders of, and all applicable restrictions imposed by, all governmental bodies, domestic or foreign, in respect of the conduct of its business and
the ownership of its property, except such noncompliance as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 7.06      Compliance with Environmental Laws. 

(a)      (i) The Company will comply, and will use its best efforts to cause each of its Subsidiaries
to comply, with Environmental Law applicable to its operations and those of its Subsidiaries and to the ownership, lease or operation of Real Property now or hereafter owned, leased or operated by the Company or any of its Subsidiaries, will
promptly pay or cause to be paid all costs and expenses incurred in connection with such compliance, and will keep or cause to be kept all such Real Property free and clear of any Liens imposed pursuant to such Environmental Laws and
(ii) neither the Company nor any of its Subsidiaries will generate, use, treat, store, release or dispose of, or permit the generation, use, treatment, storage or Release of Hazardous Materials on, at, under or from any Real Property now or
hereafter owned, leased or operated by the Company or any of its Subsidiaries, or transport or permit the transportation of Hazardous Materials to or from any such Real Property, except to the extent that the failure to comply with the requirements
specified in clause (i) or (ii) above, either individually or in the aggregate taken together with any and all exceptions to the representations and warranties set forth in Section 6.17, could not reasonably be expected to result in
liability under Environmental Law that could have a Material Adverse Effect. If required to do so under any applicable legally binding directive or order of any Governmental Authority, the Company agrees to undertake, and cause each of its
Subsidiaries to undertake, to the extent required under Environmental Law, any clean up, removal, remedial or other action necessary to address any Hazardous Materials at or emanating from any Real Property owned or operated by the Company or any of
its Subsidiaries in accordance with the requirements of Environmental Law and in accordance with such legally binding orders and directives of any Governmental Authority, except to the extent that (x) the Company or such Subsidiary is
contesting such order or directive in good faith and by appropriate proceedings and for which adequate reserves have been established to the extent required by generally accepted accounting principles or (y) the failure to take any such action
could not reasonably be expected to have a Material Adverse Effect. 
 (b)      At the written
request of the Administrative Agent or the Required Lenders, at any time and from time to time as is reasonable after (i) the Obligations have become due and payable pursuant to Section 9 or (ii) the Lenders receive notice under
Section 7.01(h) for any event for which notice is required to be delivered for any Real Property, the Company will provide, at its sole cost and expense, an environmental site assessment report of reasonable scope and expense concerning any
relevant Real Property now or hereafter owned or operated by the Company or any of its Subsidiaries, prepared by an environmental consulting firm approved by the Administrative Agent, indicating the presence or absence of Hazardous Materials and the
potential cost of any response or other corrective action addressing any Hazardous Materials on, at or emanating from such Real Property. If the Company fails to provide the same within 45 days after such request was made, the Administrative Agent
may order the same, and the Company, to the extent the Company has the authority to do so, shall grant and hereby grants, to the Administrative Agent and the Lenders and their Administrative Agents, access to such Real Property and specifically
grants the Administrative Agent and the Lenders an irrevocable nonexclusive license, subject to the rights of tenants, to undertake such an assessment, all at the sole joint and several expense of the Company. 

  
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 7.07      ERISA. 

(a)      The Company will furnish to the Administrative Agent prompt written notice of the occurrence of
any ERISA Event (or any similar event in respect of any Foreign Pension Plans) that, alone or together with any other ERISA Events (or any similar event in respect of any Foreign Pension Plans) that have occurred, could reasonably be expected to
result in liability of the Company and its Subsidiaries in excess of $2,500,000. Each notice delivered under this Section 7.07 shall be accompanied by a statement of an Authorized Officer of the Company setting forth the details of the event or
development requiring such notice and any action taken or proposed to be taken with respect thereto. 

(b)      Upon request by the Administrative Agent, copies of: (i) each Schedule B (Actuarial
Information) to the annual report (Form 5500 Series) filed by the Company or any ERISA Affiliate with the Internal Revenue Service with respect to each Pension Plan; (ii) the most recent actuarial valuation report for each Pension Plan;
(iii) all notices received by the Company or any ERISA Affiliate from a Multiemployer Plan sponsor or any governmental agency concerning an ERISA Event; and (iv) such other documents or governmental reports or filings relating to any
Employee Benefit Plan as the Administrative Agent shall reasonably request. 
 (c)      Upon
request by the Administrative Agent, copies of (i) any documents described in Section 101(k) of ERISA that the Company or any ERISA Affiliate may request with respect to any Multiemployer Plan and (ii) any notices described in
Section 101(l) of ERISA that the Company or any ERISA Affiliate may request with respect to any Multiemployer Plan; provided that if the Company or any ERISA Affiliate has not requested such documents or notices from the administrator or
sponsor of the applicable Multiemployer Plan, the applicable entity shall promptly make a request for such documents or notices from such administrator or sponsor and shall provide copies of such documents and notices promptly after receipt thereof.

 7.08      End of Fiscal Years; Fiscal Quarters. The Company will cause (i) its
fiscal year to end on November 30 and (ii) its fiscal quarters to end on February 28, May 31, August 31 and November 30 of each fiscal year. 

7.09      Performance of Obligations. The Company will, and will cause each of its Subsidiaries to,
perform all of its obligations under the terms of each mortgage, deed of trust, indenture, loan agreement or credit agreement and each other material agreement, contract or instrument by which it is bound, except such non-performances as could not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; provided that the failure to pay any Indebtedness shall not constitute a breach of this Section 7.09 unless it shall give rise to an Event of
Default under Section 9.04. 
 7.10      Payment of Taxes. The Company will pay and
discharge, and will cause each of its Subsidiaries to pay and discharge, all material taxes, assessments and governmental charges or levies imposed upon the Company or its Subsidiaries or upon the income or profits of the Company or its
Subsidiaries, or upon any properties belonging to it, in each case on a timely basis, and all lawful claims which, if unpaid, might become a lien or charge not otherwise permitted under Section 8.01(i) upon any properties of the Company or any
such Subsidiary; provided that none of the Company or any such Subsidiary shall be required to pay any such material tax, assessment, charge, levy or claim which is being contested in good faith and by proper proceedings if the Company or any
such Subsidiary has maintained adequate reserves with respect thereto in accordance with generally accepted accounting principles. 

  
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 7.11      Additional Security; Further Assurances.

 (a)      In the event that the Company or any Subsidiary Guarantor acquires any fee ownership
in Real Property after the Restatement Effective Date, the Company shall promptly notify the Collateral Agent and, at the request of the Collateral Agent or the Required Lenders (or as otherwise required at such time pursuant to the ABL/Term Loan
Intercreditor Agreement) from time to time, the Company will, and will cause such Subsidiary Guarantor to, execute any and all further documents (including Mortgages), financing statements, agreements (including guarantee and security agreements)
and instruments, and take all such further actions (including the filing and recording of financing statements and other documents), that may be required under applicable law, or which the Collateral Agent may reasonably request, to grant, preserve,
protect or perfect (including as a result of any change in applicable law) the Liens created or intended to be created by the Security Documents or the validity or priority of any such Lien, all at the expense of the Company (each such Mortgage, an
“Additional Mortgage”) in such additional Real Property of any of the Company or a Subsidiary Guarantor (each such Real Property, an “Additional Mortgaged Property”). All such Additional Mortgages shall be granted pursuant to
documentation reasonably satisfactory in form and substance to the Collateral Agent and shall constitute valid and enforceable perfected Liens superior to and prior to the rights of all third Persons and subject to no other Liens, in either case
except Permitted Encumbrances. The Additional Mortgages or instruments related thereto shall have been duly recorded or filed in such manner and in such places as are required by law to establish, perfect, preserve and protect the Liens in favor of
the Collateral Agent required to be granted pursuant to the Additional Mortgages and all taxes, fees and other charges payable in connection therewith shall have been paid in full. Notwithstanding anything to the contrary contained above in this
Section 7.11(a), in connection with any Real Property that has been designated as an Additional Mortgaged Property, the Company shall not nor any Subsidiary Guarantor shall be required to grant an Additional Mortgage therein to the extent that
such a grant is prohibited by the terms of any document evidencing a prior Lien thereon to the extent permitted under Section 8.01(vii), (viii) or (xiv) (and the senior lienholder has not consented thereto). 

(b)      Following the Restatement Effective Date, the Company will, and will cause each of its
Subsidiaries to, at the expense of the Company and such Subsidiaries, make, execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from time to time such conveyances, financing statements, transfer endorsements, powers of
attorney, certificates, and other assurances or instruments and take such further steps relating to the Collateral covered by any of the Security Documents as the Collateral Agent may reasonably require to ensure the validity, enforceability,
perfection or priority of the Collateral Agent’s and Administrative Agent’s security interest in the Collateral or to enable the Collateral Agent and Administrative Agent to realize or exercise the rights and benefits intended to be
created by the Security Documents. Furthermore, the Company shall cause to be delivered to the Collateral Agent such opinions of counsel, title insurance, appraisals, surveys, life of loan flood hazard determinations (together with a notices about
special flood hazard area status and flood disaster assistance duly executed by the Borrower and the applicable Credit Party relating thereto, if applicable) and other related documents as may be reasonably requested by the Collateral Agent to
assure itself that this Section 7.11 has been complied with. 
 (c)      In the event the
Administrative Agent or the Required Lenders reasonably determine the following are required or advisable under applicable law or regulation, the Company shall obtain real estate appraisals with respect to each Mortgaged Property, which real estate
appraisal shall follow the valuation procedures set forth in 12 CFR, Part 34 -Subpart C, and shall otherwise be in form and substance reasonably satisfactory to the Administrative Agent. 

  
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 (d)      The Company agrees that each action required above by
this Section 7.11 shall be completed as soon as possible, but in no event later than 90 days after such action is requested in writing to be taken by the Administrative Agent or the Required Lenders. 

7.12      Ownership of Subsidiaries. The Company will at all times ensure that each of its
Subsidiaries remains as a Wholly-Owned Subsidiary of the Company except (i) to the extent that any such Subsidiary is merged, consolidated or liquidated in a transaction permitted by Section 8.02(viii) or (ix), (ii) for
non-Wholly-Owned Subsidiaries acquired pursuant to a Permitted Acquisition and (iii) for joint ventures otherwise permitted pursuant to Section 8.05. 
 7.13      Use of Proceeds. The Company will use the proceeds of the Loans and Incremental Loans only as provided in Section 6.08. 

7.14      Maintenance of Company Separateness. The Company will, and will cause each of its
Subsidiaries to, satisfy customary Business formalities, including (to the maximum extent required under applicable Business laws) the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders
without a meeting and the maintenance of Business records. Neither the Company nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no lender
account of any Non-Guarantor Subsidiary shall be commingled with any lender account of the Company or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate
the corporate separateness of such Non-Guarantor Subsidiary from the Company and its other Subsidiaries. Finally, neither the Company nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in
the Business existence of the Company, any other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Company or any other Credit Party being substantively consolidated with those of any other such
Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding. 

7.15      Deposit Accounts. For each Deposit Account (other than (i) any Deposit Account
maintained with the Collateral Agent, (ii) any Deposit Account that is used solely for payroll or that is a controlled disbursement account that has a zero balance at the end of each Business Day and (iii) any Deposit Account maintained with
JPMorgan Chase Bank, N.A.), the respective Assignor (as such term is defined in the Security Agreement) shall use its commercially reasonable efforts to cause the bank with which the Deposit Account is maintained to execute and deliver to the
Collateral Agent, within 30 days after the date hereof (as such date may be extended from time to time by the Collateral Agent in its sole discretion) or, if later, at the time of the establishment of the respective Deposit Account, a “control
agreement” in a form reasonably satisfactory to the Collateral Agent. Notwithstanding anything in this Section 7.15 to the contrary, (a) if at any time a Deposit Account excluded under the foregoing sentence (other than any Deposit
Account maintained with the Collateral Agent) is or becomes subject to a “control agreement” for the benefit of the ABL Secured Parties (as defined in the Security Agreement), then the respective Assignor shall within 30 days after the
date hereof (as such date may be extended from time to time by the Collateral Agent in its sole discretion) or, if later, contemporaneously with the execution and delivery of each such “control agreement” for the benefit of the ABL Secured
Parties execute and deliver a “control agreement” with respect to such Deposit Account in a form reasonably satisfactory to the Collateral Agent and (b) if at any time the ABL Borrowing Availability is less than $15,000,000, then each
Assignor shall within 30 days after such time to execute and deliver a “control agreement” in a form reasonably satisfactory to the Collateral Agent, with respect to each Deposit Account not then subject to a “control agreement,”
unless otherwise agreed to by the Collateral Agent in writing. Unless otherwise agreed to by the Collateral Agent in writing, if any bank with which a Deposit Account is maintained refuses to, or does not, enter into such a “control
agreement” to the extent and by the date required hereunder, 

  
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then the respective Assignor shall promptly (and in any event within 30 days after such date or such longer period as may be acceptable to the Collateral Agent) close the respective Deposit
Account and transfer all balances therein to the Cash Collateral Account (as defined in the Security Agreement) or another Deposit Account subject to a “control agreement” in a form reasonably satisfactory to the Collateral Agent.

 7.16      Post-Closing Obligations. 

To the extent not delivered on the Restatement Effective Date, the Credit Parties shall use their commercially reasonable efforts to
deliver the following to the Administrative Agent, with respect to the Mortgaged Property and within the time period set forth for each item in this Section 7.16, unless such time period is otherwise extended by the Administrative Agent in its
reasonable discretion: 
 (a)      no later than 30 days following the Restatement Effective Date,
an amended and restated Mortgage encumbering each Existing Mortgaged Property and a Mortgage encumbering each New Mortgaged Property, each duly executed and acknowledged by the applicable Credit Party and each in form and substance reasonably
satisfactory to the Collateral Agent; 
 (b)      no later than 30 days following the Restatement
Effective Date, (i) with respect to each Existing Mortgage Property, a date down endorsement to the existing mortgagee’s title insurance policy or, if not available, a new Mortgage Policy, disclosing no additional liens or title
exceptions against the Existing Mortgaged Properties other than Permitted Encumbrances, extending the date of such mortgagee’s title insurance policy to the date of recordation of such amended and restated Mortgage, and providing assurance
reasonably satisfactory to the Collateral Agent that the lien on such Existing Mortgaged Property in favor of the Collateral Agent shall continue to have the enforceability and priority in effect immediately prior to the Restatement Effective Date
and shall be in form and substance reasonably acceptable to the Collateral Agent and (ii) with respect to each New Mortgaged Property, a Mortgage Policy disclosing no liens or title exceptions against each New Mortgaged Property other than
Permitted Encumbrances and shall be in form and substance reasonably acceptable to the Collateral Agent; 

(c)      no later than 30 days following the Restatement Effective Date, if requested by the Collateral
Agent, surveys with respect to the Existing Mortgaged Properties and New Mortgaged Properties in form and substance reasonably satisfactory to the Collateral Agent; 
 (d)      no later than 30 days following the Restatement Effective Date, evidence of payment of all applicable filing, documentary, stamp, intangible, mortgage and recording
taxes, recording and filing fees, and title insurance premiums and fees in connection with the matters set forth in clauses (a), (b) and (c) above; 
 (e)      no later than 30 days following the Restatement Effective Date, from local counsel to the Company and its Subsidiaries reasonably satisfactory to the Administrative
Agent, an opinion addressed to the Administrative Agent, the Collateral Agent and each of the Lenders, in form and substance reasonably satisfactory to the Administrative Agent and shall cover the lien granted pursuant to the Mortgages encumbering
the New Mortgaged Properties or the amended and restated Mortgages encumbering the Existing Mortgaged Properties and such other matters incident to the transactions contemplated herein and in the other Credit Documents as the Administrative Agent
may reasonably request; and 

  
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 (f)      no later than 30 days following the Restatement
Effective Date, endorsements to the insurance certificates and related schedules in form and substance reasonably acceptable to the Collateral Agent. 
 SECTION 8.      Negative Covenants. The Company hereby covenants and agrees for itself and each of its Subsidiaries that on and after the Restatement Effective Date,
after giving effect to the Transaction, and until the Total Commitment has terminated and the Loans and Notes, together with interest, Fees and all other Obligations, are paid in full: 

8.01      Liens. The Company will not, and will not permit any of their Subsidiaries to, create,
incur, assume or suffer to exist any Lien upon or with respect to any property or assets (real or personal, tangible or intangible) of the Company or any of its Subsidiaries, whether now owned or hereafter acquired, or sell any such property or
assets subject to an understanding or agreement, contingent or otherwise, to repurchase such property or assets (including sales of accounts receivable with recourse to the Company or any of its Subsidiaries), or assign any right to receive income;
provided that the provisions of this Section 8.01 shall not prevent the creation, incurrence, assumption or existence of the following (Liens described below are herein referred to as “Permitted Liens”): 

(i)       Liens for taxes, assessments or governmental charges or levies not yet
delinquent or Liens for taxes, assessments or governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves have been established to the extent required by generally accepted accounting
principles, which proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien; 
 (ii)      Liens in respect of property or assets of the Company or any of its Subsidiaries imposed by law, which were incurred in the ordinary course of business and do not
secure Indebtedness, such as carriers’, warehousemen’s, materialmen’s and mechanics’ liens and other similar Liens arising in the ordinary course of business, and (x) which do not in the aggregate materially detract from the
value of the Company’s or such Subsidiary’s property or assets or materially impair the use thereof in the operation of the business of the Company or such Subsidiary or (y) which are being contested in good faith by appropriate
proceedings, which proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien; 
 (iii)      Liens in existence on the Restatement Effective Date which are listed, and the property subject thereto described, on Schedule 8.01, but no renewals or extensions
of such Liens shall be permitted unless (x) the aggregate principal amount of the Indebtedness, if any, secured by such Liens does not increase from that amount outstanding at the time of any such renewal or extension and (y) any such
renewal or extension does not encumber any additional assets or properties of the Company or any of its Subsidiaries; 
 (iv)      Permitted Encumbrances; 

(v)       Liens created by or pursuant to (x) this Agreement and the Security
Documents, (y) the ABL Credit Agreement and the ABL Security Documents (subject to the terms of the ABL/Term Loan Intercreditor Agreement) and (z) the Interest Rate Protection Agreements entered into with any Lender or Agent or any Affiliate
thereof (each, as defined in the ABL Credit Agreement) under the ABL Credit Agreement; 

(vi)      leases or subleases granted to other Persons in the ordinary course of business
not materially interfering with the conduct of the business of the Company or any of its Subsidiaries; 

  
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 (vii)     Liens upon assets subject to Capitalized
Lease Obligations or purchase money Indebtedness to the extent permitted by Section 8.04(iii); provided that (x) such Liens only serve to secure the payment of Indebtedness arising under such Capitalized Lease Obligation or purchase
money Indebtedness and (y) the Lien encumbering the asset giving rise to the Capitalized Lease Obligation or purchase money Indebtedness does not encumber any other asset of the Company or any of its Subsidiaries; 

(viii)    Liens placed upon assets (including Real Property) at the time of acquisition or
construction thereof by the Company or any such Subsidiary or within 90 days thereafter to secure Indebtedness incurred to pay all or a portion of the purchase price or construction costs thereof and extensions, renewals or replacements of any of
the foregoing; provided that, in either case, (x) the aggregate outstanding principal amount of all Indebtedness secured by Liens permitted by this clause (viii) shall not at any time exceed the amount permitted under
Section 8.04(iii) and (y) in all events, the Lien encumbering the assets so acquired does not encumber any other asset of the Company or any of its Subsidiaries; 

(ix)      any Lien existing on any property or asset prior to the acquisition thereof by
the Company or any of its Subsidiaries or existing on any property or asset of any Person that becomes a Subsidiary of the Company after the date hereof prior to the time such Person becomes a Subsidiary of the Company; provided that
(i) such Lien was not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary of the Company, as the case may be, (ii) such Lien shall not apply to any other property or assets of the Company
or any of its Subsidiaries and (iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary of the Company; 

(x)      easements, rights-of-way, restrictions, encroachments and other similar charges or
encumbrances, and minor title deficiencies, in each case not materially interfering with the conduct of the business of the Company or any of its Subsidiaries; 
 (xi)      Liens arising from precautionary UCC financing statement filings or similar filings regarding operating leases and consigned goods; 

(xii)    statutory and common law landlords’ liens under leases to which the Company or any of
its Subsidiaries is a party; 
 (xiii)    Liens incurred or deposits made in the ordinary
course of business in connection with workers’ compensation, unemployment insurance and other types of social security, or to secure the performance of tenders, statutory obligations, surety bonds (other than appeal bonds), bids, government
contracts, performance and return-of-money bonds and other similar obligations incurred in the ordinary course of business (exclusive of obligations in respect of the payment for borrowed money); 

(xiv)    normal and customary rights of setoff upon deposits of cash in favor of lenders and other
depositary institutions; 
 (xv)     the Company and its Subsidiaries may sell or
assign overdue accounts receivable in connection with the collection thereof in the ordinary course of business to the extent permitted under Section 8.02; 

(xvi)    any (x) interest or title of a lessor or sublessor (other than a Credit Party) under
any lease entered into by the Company or any of its Subsidiaries as lessee to the extent that such 

  
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lease is permitted to be entered into pursuant to this Agreement, (y) restriction or encumbrance to which the interest or title of such lessor or sublessor may be subject (including, without
limitation, ground leases and other prior leases of the premises, mortgages, mechanics liens, tax liens and easements) or (z) subordination of the interest of the lessee or sublessee under any such lease to any restriction or encumbrance
referred to in the preceding clause (y); 
 (xvii)     Liens on the assets of Foreign
Subsidiaries securing Indebtedness permitted under Section 8.04; 
 (xviii)    Liens
not otherwise permitted pursuant to this Section 8.01 which secure obligations permitted under this Agreement not exceeding, in the aggregate at any one time outstanding, the greater of (x) $50,000,000 and (y) 11.2% of Consolidated
Net Tangible Assets as of the time of incurrence; and 
 (xix)      Liens arising
from judgments and attachments in connection with court proceedings provided that the attachment or enforcement of such Liens would not result in an Event of Default hereunder and such Liens are being contested in good faith by appropriate
proceedings, adequate reserves have been set aside and no material property is subject to a material risk of loss or forfeiture and the claims in respect of such Liens are fully covered by insurance (subject to ordinary and customary deductibles)
and a stay of execution pending appeal or proceeding for review is in effect. 
 In connection with the granting of Liens permitted by this
Section 8.01 by the Company or any of its Subsidiaries, the Administrative Agent and the Collateral Agent shall be authorized to and shall take any actions necessary to be taken by it in connection therewith (including, without limitation, by
executing appropriate lien releases or lien subordination agreements in favor of the holder or holders of such Liens, in either case solely with respect to the item or items of property subject to such Liens) to afford the lenders and/or creditors
of the Company and its Subsidiaries with the Permitted Liens (and related rights) to which they are entitled under this Section 8.01. 
 8.02      Consolidation, Merger, Sale of Assets, etc. The Company will not, and will not permit any of its Subsidiaries to, wind up, liquidate or dissolve its affairs
or enter into any transaction of merger or consolidation, or convey, sell, lease or otherwise dispose of (or agree to do any of the foregoing at any future time) all or any part of its property or assets (including, without limitation, any sale,
lease, or other disposition, or issuance, of Capital Stock or other equity interests or securities of a Subsidiary or another Person), or enter into any sale-leaseback transactions, except that: 

(i)      the Company and its Subsidiaries may make sales of Cash Equivalents and inventory,
including sales of inventory to the Company and other Subsidiaries, in the ordinary course of business; 

(ii)     the Company and its Subsidiaries may make sales or other dispositions of assets;
provided that (x) each such sale results in consideration at least 75% of which shall at the time received be in the form of cash (provided that in lieu of cash the Company may receive, as consideration, assets which the Company
would have been permitted to reinvest in under the terms of Section 4.02(c) if the Company had received cash consideration), (y) the aggregate sale proceeds from all assets subject to such sales shall not exceed the greater of
(a) $15,000,000 and (b) 10% of consolidated total assets of the Company and its Subsidiaries, in each case in any fiscal year of the Company, plus, in the case of a sale or disposition of foreign assets or a Foreign Subsidiary,
$100,000,000 in the aggregate after the Restatement Effective Date and (z) Net Cash Proceeds 

  
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therefrom in excess of $15,000,000 are either applied as provided in Section 4.02(c) or reinvested in assets to the extent permitted by Section 4.02(c); 

(iii)      Capital Expenditures by the Company and its Subsidiaries shall be permitted;

 (iv)      the Company and its Subsidiaries may sell or otherwise dispose of
damaged, obsolete or worn-out assets that are no longer necessary for the proper conduct of their respective business for fair market value; 
 (v)      transactions permitted by Section 8.05 shall be permitted; 
 (vi)      The Company and its Subsidiaries may grant leases or subleases to other Persons in the ordinary course of business and not materially interfering with the conduct
of the business of the Company and its Subsidiaries taken as a whole; 

(vii)      each of the Company and its Subsidiaries may lease (as lessee)
real or personal property in the ordinary course of business (so long as any such lease does not create a Capitalized Lease Obligation except to the extent permitted by Section 8.04(iii)); 

(viii)      any Foreign Subsidiary of the Company may be sold or transferred to, merged
with and into, or be dissolved or liquidated, or any of its assets, Capital Stock or other equity interests otherwise sold or transferred to (x) the Company or (y) any Wholly-Owned Subsidiary of the Company, so long as any security
interests granted to the Collateral Agent for the benefit of the Secured Creditors pursuant to the Security Documents in the Equity Interests of such Foreign Subsidiary shall remain in full force and effect and perfected and enforceable (to at least
the same extent as in effect immediately prior to such merger, consolidation, amalgamation, dissolution, liquidation or transfer) and all actions required to maintain said perfected status have been taken; 

(ix)      any Domestic Subsidiary of the Company may be merged with and into, or be
dissolved or liquidated into, or transfer any of its assets to (x) the Company or (y) any Wholly-Owned Domestic Subsidiary of the Company, so long as (i), in the case of clause (y), such Wholly-Owned Domestic Subsidiary of the Company is a
Subsidiary Guarantor and (ii) any security interests granted to the Collateral Agent for the benefit of the Secured Creditors pursuant to the Security Documents in the assets of such Subsidiary shall remain in full force and effect and
perfected (to at least the same extent as in effect immediately prior to such merger, consolidation, dissolution or liquidation) and all actions required to maintain said perfected status have been taken; 

(x)      the Company and each of the Subsidiary Guarantors may sell or otherwise transfer
assets (other than any Mortgaged Properties) between or among one another; 

(xi)      each of the Company and its Subsidiaries may sell or discount accounts receivable
in the ordinary course of business, but only in connection with the collection or compromise thereof; 

(xii)      each of the Company and its Subsidiaries may, in the ordinary course of
business, license patents, trademarks, copyrights and know-how to third Persons, so long as each such license does not prohibit the granting of a Lien by the Company or such Subsidiary in the intellectual property covered by such license;

  
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 (xiii)      each of the Company and its
Subsidiaries may liquidate any Inactive Subsidiary and any Non-Guarantor Subsidiary; and 

(xiv)      the Company and its Subsidiaries may consummate the transactions described on
Schedule 1.01(c). 
 For purposes of clause (x) of the proviso to clause (ii) above, the following
shall be deemed to be cash: 
 (a)      the amount (without duplication) of any
liability (other than any Indebtedness of the Company or a Guarantor (whether outstanding on the Restatement Effective Date or thereafter incurred)) which is subordinated by its terms in right of payment to the Obligations that would be recorded on
a balance sheet prepared in accordance with GAAP of the Company or such Subsidiary that is expressly (x) assumed by a Person other than the Company or a Subsidiary, or (y)      expunged by the holder of such
liability, and with respect to which, in each case, the Company or such Subsidiary, as the case may be, is unconditionally released from further liability with respect thereto; 

(b)      the amount of any obligations or securities received from such transferee that are
within 180 days repaid, converted into or sold or otherwise disposed of for cash or Cash Equivalents (to the extent of the cash or Cash Equivalents actually so received); 

(c)      any contingent earn-out obligation received by the Company or any Subsidiary in
such Asset Sale having an aggregate potential payout, taken together with all other contingent earn-out obligations received pursuant to this clause since the Restatement Effective Date that are at the time outstanding and held by the Company or any
Subsidiary, not to exceed $20,000,000 at that time then outstanding (after giving effect to any payment or reduction); and 
 (d)      any Designated Noncash Consideration received by the Company or any Subsidiary in such Asset Sale having an aggregate Fair Market Value, taken together with all
other Designated Noncash Consideration received pursuant to this clause since the Restatement Effective Date that is at the time outstanding and held by the Company or any Subsidiary, not to exceed the greater of (x) $25,000,000 or
(y) 5.5% of Consolidated Net Tangible Assets at the time of the receipt of such Designated Noncash Consideration, with the Fair Market Value of each item of Designated Noncash Consideration being measured at the time received and without giving
effect to subsequent changes in value. 
 If at any time any non-cash consideration received by the Company or
any Subsidiary in connection with any Asset Sale is repaid, converted into or sold or otherwise disposed of for cash or Cash Equivalents (other than interest received with respect to any such non-cash consideration), then the date of such repayment,
conversion, sale or other disposition shall be deemed to constitute the date of an Asset Sale hereunder and the Net Cash Proceeds thereof shall be applied in accordance with Section 4.02. 

To the extent the Required Lenders waive the provisions of this Section 8.02 with respect to the sale or other disposition of any
Collateral, or any Collateral is sold or otherwise disposed of as permitted by this Section 8.02, such Collateral (unless transferred to a Credit Party or a Subsidiary thereof) shall in each case be sold or otherwise disposed of free and clear
of the Liens created by the Security Documents and the Administrative Agent shall take such actions (including, without limitation, directing the Collateral Agent to take such actions) as are appropriate in connection therewith. 

  
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 8.03      Dividends. The Company will not, and will not
permit any of its Subsidiaries to, authorize, declare or pay any Dividends with respect to the Company or any of its Subsidiaries, except that: 
 (i)      any Subsidiary of the Company may pay Dividends to (x) the Company or (y) any Wholly-Owned Subsidiary of the Company; 

(ii)      any non-Wholly-Owned Subsidiary of the Company may pay cash Dividends to its
shareholders or equity owners generally so long as the Company or its respective Subsidiary which owns the equity interest in the Subsidiary paying such Dividends receives at least its proportionate share thereof (based upon its relative holding of
the equity interest in the Subsidiary paying such Dividends and taking into account the relative preferences, if any, of the various classes of equity interests of such Subsidiary); and 

(iii)      the Company may pay cash Dividends so long as (a) no Default or Event of
Default is in existence at such time or would result therefrom and (b) the amount of such Dividend, when added to the aggregate amount of Dividends made pursuant to this clause (iii) after the Restatement Effective Date and the aggregate
amounts paid pursuant to Section 8.05(xv) and (xviii) after the Restatement Effective Date, would not exceed the Permitted Dividend Amount in effect at such time. 
 8.04      Indebtedness. The Company will not, and will not permit any of its Subsidiaries to, contract, create, incur, assume or suffer to exist any Indebtedness,
except: 
 (i)      Indebtedness incurred pursuant to this Agreement and the other
Credit Documents; 
 (ii)      existing Indebtedness to the extent the same is
listed on 5(j)(vi) and Permitted Refinancing Indebtedness in respect of such Indebtedness; 

(iii)      Indebtedness evidenced by Capitalized Lease Obligations and purchase money
Indebtedness of the Company and its Subsidiaries, including any Indebtedness assumed in connection with the acquisition of assets; provided that in no event shall the aggregate principal amount of Capitalized Lease Obligations, and the
principal amount of all such Indebtedness incurred or assumed in each case after the Restatement Effective Date, permitted by this clause (iii) exceed $20,000,000 at any time outstanding; 

(iv)      intercompany Indebtedness among the Company and its Subsidiaries to the extent
permitted by Section 8.05; 
 (v)      Indebtedness of the Company under
Interest Rate Protection Agreements entered into to protect the Company against fluctuations in interest rates in respect of the Obligations so long as management of the Company has determined that the entering into of such Interest Rate Protection
Agreements are bona fide hedging activities; 
 (vi)      Indebtedness of the
Company and its Subsidiaries under Other Hedging Agreements entered into in the ordinary course of business providing protection against fluctuations in currency values and/or commodity prices in connection with the Company’s or any of its
Subsidiaries’ operations so long as management of the Company or such Subsidiary, as the case may be, has determined that the entering into of such Other Hedging Agreements are bona fide hedging activities; 

  
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 (vii)      Indebtedness of the Credit Parties
arising under the ABL Credit Documents (or any Permitted Refinancing ABL Credit Facility) in an aggregate principal amount not to exceed the greater of (i) $100,000,000 and (ii) the sum of (x) 85% of the net book value of the accounts
receivable of the Company and its Wholly-Owned Domestic Subsidiaries and (y) 65% of the net book value of the inventory of the Company and its Wholly-Owned Domestic Subsidiaries, less, in each case, the aggregate principal amount of all
principal repayments with the proceeds from Asset Sales utilized in accordance with Section 4.02(f) that permanently reduce the commitments thereunder; 
 (viii)      any Credit Party may become liable as a guarantor with respect to obligations of any other Credit Party, which obligations are not otherwise prohibited under this
Agreement; 
 (ix)      Indebtedness in respect of those accounts receivable
permitted to be sold or discounted pursuant to Section 8.02(xi); 

(x)      Indebtedness representing deferred compensation to employees and directors of the
Company or its Subsidiaries; provided that the aggregate principal amount of Indebtedness permitted by this clause (x) shall not exceed $10,000,000 at any time outstanding; 

(xi)      additional Indebtedness of the Company and its Subsidiaries not otherwise
permitted under this Section 8.04 not to exceed $50,000,000 in aggregate principal amount at any one time outstanding; 
 (xii)      Indebtedness of a Subsidiary of the Company acquired after the Restatement Effective Date in connection with a Permitted Acquisition (or Indebtedness assumed at
the time of a Permitted Acquisition of an asset securing such Indebtedness); provided that the aggregate principal amount of all such Indebtedness outstanding at any one time pursuant to this clause (xii) shall not exceed
(A) $10,000,000 plus (B) an additional amount of Indebtedness if (x) such Indebtedness consists of Permitted Debt and (y) after giving effect to the incurrence of such Permitted Debt and the respective Permitted Acquisition, the
Interest Coverage Ratio for the then most recently ended Test Period is greater than 2.00:1.00 determined on a pro forma basis; and Permitted Refinancing Indebtedness in respect of any of the foregoing; 

(xiii)      Indebtedness of Subsidiaries that are not Guarantors from time to time owing to
Persons other than a Credit Party; provided that the aggregate amount of such Indebtedness under this clause (xiii) does not exceed $30,000,000 at any one time outstanding; 

(xiv)      any Subsidiary of the Company may become liable as a guarantor with respect to
lease obligations of the Company or any other Subsidiary of the Company; 

(xv)      additional Indebtedness of the Company and its Subsidiaries not otherwise
permitted under this Section 8.04; provided that after giving effect to the incurrence of such additional Indebtedness, the Interest Coverage Ratio for the then most recently ended Test Period is greater than 2.00:1.00 determined on a
pro forma basis; provided, further, that the aggregate amount of such Indebtedness under this clause (xv) that may be incurred by Subsidiaries that are not Guarantors does not exceed $50,000,000 at any one time
outstanding; and Permitted Refinancing Indebtedness in respect of the foregoing; and 

(xvi)      Indebtedness of the Credit Parties arising under the Senior Note Indenture in an
aggregate principal amount not to exceed $250,000,000 and Permitted Refinancing Indebtedness in respect of such Indebtedness. 

  
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 For purposes of determining compliance with this Section 8.04, in the event that any item of proposed
Indebtedness meets the criteria of more than one of the categories above, the Company will be permitted to classify the item of Indebtedness on the date of its incurrence, creation or assumption, or later reclassify all or a portion of the item of
Indebtedness, in any manner that complies with this Section 8.04 and such item of Indebtedness shall be deemed to have been incurred, created or assumed pursuant to only one of such categories. 

8.05      Advances, Investments, Loans, Purchase of Assets. The Company will not, and will not
permit any of its Subsidiaries to, directly or indirectly, (w) lend money or credit or make advances to any Person, (x) purchase or otherwise acquire (in one or a series of related transactions) any part of the property or assets of any
Person (including, without limitation, any Capital Stock or other securities of any other Person), but excluding purchases or other acquisitions of inventory, materials, equipment and other real and personal assets (other than assets
constituting, or a Person (including the Capital Stock of a Person) engaged in, a business) used or to be used in the business of the Company and its Subsidiaries, (y) make any capital contribution to any other Person or
(z) purchase or own a futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract, except that the following shall be permitted (each, an
“Investment”): 
 (i)      the Company and its Subsidiaries may acquire
and hold accounts receivables owing to any of them, if created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary terms; 

(ii)      the Company and its Subsidiaries may acquire and hold cash and Cash Equivalents;

 (iii)      the Company and its Subsidiaries may (x) make loans and
advances in the ordinary course of business to their respective employees so long as the aggregate principal amount thereof at any time outstanding (determined without regard to any write-downs or write-offs of such loans and advances) shall not
exceed $1,000,000 and (y) make loans to members of management to fund their purchase of equity interests of the Company so long as no cash is paid by the Company or any of its Subsidiaries in connection therewith (or any cash so paid is
promptly (and in any event within one Business Day) returned to the Company or such Subsidiary; 

(iv)      the Company and its Subsidiaries may enter into Interest Rate Protection
Agreements to the extent permitted by Section 8.04(v); 

(v)      the Company and its Subsidiaries may enter into Other Hedging
Agreements to the extent permitted by Section 8.04(vi); 

(vi)      investments in existence on the Restatement Effective Date and listed on Schedule
8.05 shall be permitted, without giving effect to any additions thereto or replacements thereof (provided that intercompany investments listed on Schedule 8.05 may be repaid or redeemed and re-advanced or re-contributed as new intercompany
investments up to the amount of such investments in effect as of the Restatement Effective Date); 

(vii)      any Credit Party may make intercompany loans to any other Credit Party,
(B) any Subsidiary of the Company may make intercompany loans to any Credit Party and (C) any Foreign Subsidiary may make intercompany loans to another Foreign Subsidiary (collectively, “Intercompany Loans”); provided,
that in the case of (A) and (B) only (x) each Intercompany Loan shall be evidenced by an Intercompany Note, (y) each Intercompany Note issued to the Company or any Subsidiary Guarantor shall be pledged to the Collateral Agent
pursuant to the Pledge 

  
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Agreement and (z) each Intercompany Note issued to a Subsidiary of the Company that is not a Credit Party shall contain subordination provisions reasonably satisfactory to the Administrative
Agent; 
 (viii)      the Company and its Subsidiaries may make intercompany loans
to, or investments in, any of its Foreign Subsidiaries in the form of cash or Cash Equivalents; 

(ix)      the Company and the Subsidiary Guarantors may make equity contributions to the
capital of their respective Subsidiaries which are Credit Parties; 
 (x)      the
Company and its Subsidiaries may create or acquire new Subsidiaries to the extent otherwise permitted hereunder; 
 (xi)      the Company and its Subsidiaries may transfer inventory or equipment not otherwise reasonably required for the operations of the Company or any of its Domestic
Subsidiaries to any Foreign Subsidiary to the extent such Foreign Subsidiary pays for such inventory or equipment in cash equal to the fair market value thereof; 

(xii)      the Company and its Subsidiaries shall be permitted to make Capital
Expenditures; 
 (xiii)      the Company and its Subsidiaries may enter into
transactions permitted under Section 8.02; 
 (xiv)      the Company and its
Subsidiaries may enter into guarantees to the extent permitted by Section 8.04; 

(xv)      subject to the provisions of this Section 8.05(xv) and the requirements
contained in the definition of Permitted Acquisition, the Qualified Credit Parties and Wholly-Owned Foreign Subsidiaries of the Company may from time to time after the Restatement Effective Date effect Permitted Acquisitions, so long as (i) no
Default or Event of Default is in existence at the time of the consummation of such Permitted Acquisition or would result after giving pro forma effect thereto and all representations and warranties contained herein or in the other
Credit Documents shall be true and correct in all material respects with the same effect as though such representations and warranties were made on and as of the date of such Permitted Acquisition (both before and after giving effect thereto),
unless stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date, (ii) the aggregate consideration for all Permitted Acquisitions
effected after the Restatement Effective Date pursuant to this clause (xv) (excluding Qualified Stock of the Company (or options or warrants for Qualified Stock of the Company) issued as consideration for such Permitted Acquisition), together
with all other Dividends and advances, investments and loans made pursuant to Sections 8.03(iii) and 8.05(xviii), does not exceed the sum of (A) $50,000,000 (less, on a dollar for dollar basis, the amount of any outstanding advances, loans or
investments previously or concurrently made pursuant to Section 8.05(xviii)(A)) plus (B) the Permitted Dividend Amount as in effect at the time of such Permitted Acquisition; provided that (x) the limitation set forth in this
clause (ii) shall not apply with respect to the acquisition of a domestic entity or assets of a domestic entity (and consideration for Permitted Acquisitions effected pursuant to this clause (x) of this proviso shall not be deducted from
the foregoing limitation) if, after giving effect to such Permitted Acquisition, the Interest Coverage Ratio for the then most recently ended Test Period is greater than 2.00:1.00 determined on a pro forma basis and (y) in the
case of any Permitted Acquisition which is of foreign entity or assets of a foreign entity, the 

  
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 amount which is available for such Permitted Acquisitions pursuant to this clause
(ii) shall be increased by $150,000,000, (iii) in the case of acquisitions effected by any Credit Party, such Credit Party is able to, and does, grant a Lien to the Collateral Agent for the benefit of the Secured Creditors on and security
interest in assets acquired thereby in connection with such Permitted Acquisition and (iv) the Company shall have delivered to the Administrative Agent an officer’s certificate executed by an Authorized Officer of the Company, certifying
to the best of his or her knowledge, compliance with the requirements of preceding clauses (i) through (iii); 
 (xvi)      investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers and suppliers, in
each case in the ordinary course of business; 
 (xvii)      investments of any
Person existing at the time such Person becomes a Subsidiary of the Company or at the time such Person merges or consolidates with the Company or any of its Subsidiaries, in either case, as the result of a Permitted Acquisition in compliance with
the terms of this Agreement; provided that such investments were not made by such Person in connection with, or in anticipation or contemplation of, such Person becoming a Subsidiary of the Company or such merger or consolidation; 

(xviii)      in addition to the other exceptions set forth in this
Section 8.05, the Company and its Subsidiaries may make additional advances, capital contributions, investments and loans after the Restatement Effective Date to the extent not otherwise permitted under this Section 8.05 so long as the
aggregate amount of such advances, capital contributions, investments and loans, together with all other advances, capital contributions, investments and loans made pursuant to Sections 8.03(iii) and 8.05(xv)(ii)(x) at that time outstanding,
shall not exceed the sum of (A) $50,000,000 (less, on a dollar for dollar basis, the amount of any Permitted Acquisitions previously or concurrently made pursuant to Section 8.05(xv)(ii)(A)) plus (B) the Permitted Dividend Amount as
in effect at the time of such advances, investments and loans; 

(xix)      investments made after the Original Closing Date in the Asian Latex Businesses
in an aggregate amount not to exceed $25,000,000; 
 (xx)      Investments to the
extent such Investment represents the non-cash portion of the consideration received in an Asset Sale as permitted pursuant to the second and third to last paragraphs of Section 8.02; and 

(xxi)      Investments made in connection with effecting the transactions set forth on
Schedule 1.01(c). 
 8.06      Transactions with Affiliates. The Company will not, and will
not permit any of its Subsidiaries to, enter into any transaction or series of related transactions, whether or not in the ordinary course of business, with any Affiliate of the Company or any of its Subsidiaries, other than on terms and conditions
substantially as favorable to the Company or such Subsidiary as would reasonably be obtained by the Company or such Subsidiary at that time in a comparable arm’s-length transaction with a Person other than an Affiliate, except that: 

(i)      Dividends may be paid to the extent provided in Section 8.03; 

(ii)      transactions permitted under Section 8.02 shall be permitted; 

  
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 (iii)      loans may be made and other
transactions may be entered into by the Company and its Subsidiaries to the extent permitted by Section 8.05; 
 (iv)      the Company and its Subsidiaries may enter into other transactions between or among the Company and its Subsidiaries not involving any other Affiliate; 

(v)      customary fees paid to members of the board of directors of the Company and its
Subsidiaries for their services as directors not in excess of fees paid to directors who are not Affiliates; and 
 (vi)      issuances of equity interests, payments of bonuses and other transactions permitted pursuant to employment or compensation agreements, option agreements, incentive
plans, indemnification agreements and other arrangements with employees and directors of the Company or any of its Subsidiaries, in each case so long as the foregoing are on terms not materially more beneficial to such officers and directors as
those provided by companies of similar size and similar financial condition as the Company and its Subsidiaries. 

8.07      Limitation on Payments of Certain Indebtedness; Modifications of Certain Indebtedness;
Modifications of Certificate of Incorporation, By-Laws and Certain Agreements; etc. The Company will not, and will not permit any of their Subsidiaries to: 
 (i)      amend or modify, or permit the amendment or modification of, any provision of (x) any ABL Credit Document in a manner which is adverse to the interests of the
Lenders in any material respect or in a manner which is prohibited by the terms of the ABL/Term Loan Inter-creditor Agreement or (y) any documentation entered into in connection with the other Indebtedness referred to in this clause (i) in
a manner which is adverse to the interests of the Lenders in any material respect; or 

(ii)      amend, modify or change its certificate of incorporation or limited liability
company agreement or by-laws (if any), or any agreement entered into by it, with respect to its capital stock or other equity interests, or enter into any new agreement with respect to its capital stock or other equity interests, other than any
amendments, modifications or changes pursuant to this clause (ii) or any such new agreements which are not adverse in any material respect to the interests of the Lenders and the terms of any such amendment, modification, change or other action
will not violate any of the other provisions of this Agreement or any other Credit Document. 

8.08      Limitation on Certain Restrictions on Subsidiaries. The Company will not, and will not
permit any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any such Subsidiary to (a) pay dividends or make any other
distributions on its capital stock or any other interest or participation in its profits owned by any of its Subsidiaries, or pay any Indebtedness owed to any of its Subsidiaries, (b) make loans or advances to any of its Subsidiaries, or
(c) transfer any of its properties or assets to any of its Subsidiaries, except for such encumbrances or restrictions existing under or by reason of (i) applicable law, (ii) this Agreement and the other Credit Documents,
(iii) the ABL Credit Agreement and the other ABL Credit Documents, (iv) customary provisions restricting subletting or assignment of any lease governing a leasehold interest of any of its Subsidiaries, (v) customary provisions
restricting assignment of any agreement entered into by the Company or any Subsidiary of the Company in the ordinary course of business, (vi) customary provisions restricting the transfer of assets subject to Liens permitted under
Section 8.01(iii), (vii), (viii), (ix) and (xviii), (vii) any restrictions contained in contracts for the sale of assets permitted in accordance with Section 8.02 solely in respect of the assets to be sold pursuant to such
contract, (viii) any restrictions or conditions imposed by any agreement relating to secured Indebtedness 

  
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permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness, (ix) the Senior Notes and the Senior Notes Indenture and
(x) in the case of clauses (b) and (c) above, customary restrictions in joint venture agreements entered into by the Company or its Subsidiaries. 
 8.09      Limitation on Issuance of Equity. The Company will not, and will not permit any of its Subsidiaries to, issue (i) any class of Disqualified Stock;
notwithstanding the foregoing and for the avoidance of doubt, the Company and its Subsidiaries may issue Qualified Stock and/or options and warrants for the same in an unlimited amount so long as such Qualified Stock and/or options and warrants are
not Disqualified Stock. 
 8.10      Business. The Company will not, and will not permit
any of its Subsidiaries to, engage (directly or indirectly) in any business other than any of the lines of business conducted by the Company and its Subsidiaries on the Restatement Effective Date and any business similar, ancillary or related
thereto or which constitutes a reasonable extension or expansion thereof, including in connection with the Company’s existing and future technology, trademarks and patents. 

8.11      Limitation on the Creation of Subsidiaries. Notwithstanding anything to the contrary
contained in this Agreement, the Company will not, and will not permit any of its Subsidiaries to, establish, create or acquire any Subsidiary; provided that (1) the Company may establish or create non-Wholly-Owned Subsidiaries pursuant
to Section 8.05(xv), (xvii) or (xviii) and (2) the Company and its Subsidiaries shall be permitted to establish or create and, to the extent permitted by this Agreement, acquire Wholly-Owned Subsidiaries (it being understood and
agreed that, in connection with the creation of any non-Wholly-Owned Subsidiary under Section 8.05(xv) and any Wholly-Owned Subsidiary, subject to the terms and conditions of Section 7.11 hereof, (i) the capital stock of such new
Subsidiary (other than a Foreign Holdco) to the extent owned by the Company or any other Credit Party (up to 65% of the capital stock of any such new Foreign Subsidiary) is promptly pledged pursuant to, and to the extent required by, the respective
Pledge Agreement and the certificates representing such stock, together with stock powers duly executed in blank, are delivered to the Collateral Agent and (ii) such new Subsidiary (to the extent it is a Domestic Subsidiary) promptly executes a
counterpart of the Pledge Agreement, the Security Agreement, the ABL/Term Loan Intercreditor Agreement and the Subsidiary Guarantee, in each case by executing and delivering to the Administrative Agent a counterpart of a Joinder Agreement, in each
case on the same basis (and to the same extent) as such Subsidiary would have executed such Credit Documents if it were a Credit Party on the Restatement Effective Date or Original Closing Date; provided that in the case of any Foreign
Holdco, recourse on any Guarantee by such Foreign Holdco shall be limited to the Collateral pledged by such Foreign Holdco. In addition, at the reasonable request of the Administrative Agent, each new Wholly-Owned Subsidiary shall execute and
deliver, or cause to be executed and delivered, all other relevant documentation of the type described in Section 5 as such new Wholly-Owned Subsidiary would have had to deliver if such new Wholly-Owned Subsidiary were a Credit Party on the
Restatement Effective Date or Original Closing Date. 
 8.12      Multiemployer Plans.
Neither the Company nor any of its Subsidiaries shall partially or totally withdraw any amounts from a Plan or Multiemployer Plan without the prior written consent of the Required Lenders, unless the withdrawal liability of the Company and its
Subsidiaries from all such withdrawals in the aggregate shall not exceed $5,000,000. 

8.13      Financial Covenants. 

(a)    Maximum Senior Secured Net Leverage Ratio. The Company shall not permit the Senior Secured Net Leverage
Ratio, as of the last day of any Test Period during any period in the table below, to exceed the ratio set forth opposite such period in the table below: 

  
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   Test Period
  
	  	
Senior Secured Net
 Leverage Ratio
  

	 Restatement
Effective Date - November 30, 2011
  
	  	 3.25 to 1.0

 

	
December 1, 2011 -       November 30, 2012
  
	  	 3.00 to 1.0

 

	
December 1, 2012 -       November 30, 2013
  
	  	 2.75 to 1.0

 

	
December 1, 2014 and thereafter
  
	  	 2.50 to 1.0

 

(b)      Minimum Interest Coverage Ratio. The Company shall not permit the Consolidated Interest
Coverage Ratio, for any Test Period during any period in the table below, to be less than the ratio set forth opposite such period in the table below: 
  

			
	
                         
   Test Period
  
	  	
Interest

Coverage Ratio

 

	 Restatement Effective Date -
      November 30, 2011
  
	  	 2.25 to 1.0

 

	 December 1, 2011 -
      November 30, 2012
  
	  	 2.25 to 1.0

 

	 December 1, 2012 -
      November 30, 2013
  
	  	 2.50 to 1.0

 

	 December 1, 2014 and thereafter

 
	  	 2.50 to 1.0

 

(c)      Limitation on Capital Expenditures. The Company shall not permit the aggregate amount of
Capital Expenditures made in any period set forth below to exceed the amount set forth opposite such period below: 
  

			
	
                         
   Period
  
	  	
Amount (in millions)

 

	 Restatement
Effective Date -       November 30, 2011
  
	  	 $60.0

 

	
December 1, 2011 -       November 30, 2012
  
	  	 $60.0

 

	
December 1, 2012 -       November 30, 2013
  
	  	 $60.0

 

	
December 1, 2013 -       November 30, 2014
  
	  	 $60.0

 

	
December 1, 2014 -       November 30, 2015
  
	  	 $60.0

 

	
December 1, 2015 -       November 30, 2016
  
	  	 $60.0

 

	
December 1, 2016 - Final Maturity Date
  
	  	 $60.0

 

 ; provided,
however, that (A)(x) if the aggregate amount of Capital Expenditures made in any fiscal year shall be less than the maximum amount of Capital Expenditures permitted under this Section 8.13(c) for such fiscal year (before giving effect to
any carryover), then an amount of such shortfall not exceeding 50% of such maximum amount may be added to the amount of Capital Expenditures permitted under this Section 8.13(c) for the immediately succeeding (but not any other) fiscal year and
(y) in determining whether any amount is available for carryover, the amount expended in any fiscal year shall first be deemed to be from the amount allocated to such fiscal year (before giving effect to any carryover) and (B) if the aggregate
amount of Capital Expenditures made in any fiscal year shall be greater than the maximum amount of Capital Expenditures permitted under this Section 8.13(c) for such fiscal year, 50% 

  
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of the unused amount for the next succeeding fiscal year may be carried back to the immediately preceding fiscal year and utilized to make such Capital Expenditures in such immediately preceding
fiscal year. 
 SECTION 9.      Events of Default. Upon the occurrence of any of the
following specified events (each an “Event of Default”): 
 9.01    Payments. (a) The
Company shall (i) default in the payment when due of any principal of any Loan or any Note or (ii) default, and such default shall continue unremedied for three or more Business Days, in the payment when due of any interest on any Loan or
Note, or any Fees or any other amounts owing hereunder or under any other Credit Document or (b) any Guarantor shall default in the payment of any amount, in respect of any payment of the type described in clause (a)(ii) above pursuant to its
Guarantee, and such default shall continue unremedied for three or more Business Days; or 

9.02    Representations, etc. Any representation, warranty or statement made by any Credit Party herein or in
any other Credit Document or in any certificate delivered pursuant hereto or thereto shall prove to be untrue in any material respect on the date as of which made; or 
 9.03    Covenants. Any Credit Party shall (i) default in the due performance or observance by it of any term, covenant or agreement contained in Section 7.01(f)(i),
the second sentence of Section 7.02, Section 7.11 or Section 8, (ii) default in the due performance or observance by it of any term, covenant or agreement contained in Section 7.01(a), Section 7.01(b),
Section 7.01(c), Section 7.01(d), Section 7.03(b) or Section 7.12 and such default shall continue unremedied for a period of 15 days after written notice to the defaulting party by the Administrative Agent or the Required Lenders
or (iii) default in the due performance or observance by it of any other term, covenant or agreement contained in this Agreement (other than as provided in Section 9.01) and such default shall continue unremedied for a period of 30 days after
written notice to the defaulting party by the Administrative Agent or the Required Lenders; or 

9.04    Default Under Other Agreements. (i) The Company or any of its Subsidiaries shall (x) default
in any payment of any Indebtedness (other than the Obligations) beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created or (y) default in the observance or performance of any
agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition
is to cause the holder or holders of such Indebtedness (or a trustee or Administrative Agent on behalf of such holder or holders) to cause (determined without regard to whether any notice is required), any such Indebtedness to become due prior to
its stated maturity, or (ii) any such Indebtedness of the Company or any of its Subsidiaries shall be declared to be due and payable, or required to be prepaid other than by a regularly scheduled prepayment or required prepayment (other than
pursuant to a “due-on-sale” clause in a mortgage or similar security agreement) (unless such required prepayment results from a default thereunder or an event of the type that constitutes an Event of Default), prior to the stated maturity
thereof; provided that it shall not be a Default or an Event of Default under this Section 9.04 unless the aggregate outstanding principal amount of all Indebtedness as described in preceding clauses (i) and (ii) is at least
$10,000,000; provided further that with respect to any failure or breach or default under Section 7.23 of the ABL Credit Agreement (or any default arising under Section 9.1 of the ABL Credit Agreement arising solely as a
result of a failure, breach or default under such Section 7.23), such event shall only constitute an Event of Default under this Section 9.04 upon the earlier of (1) acceleration (or the Lenders thereunder having the right to so
accelerate) of the Indebtedness under the ABL Credit Agreement and (2) such event not having been cured or waived within 30 days after the occurrence of such event (the “Stand Still Period”); or 

  
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 9.05    Bankruptcy, etc. The Company or any of its Subsidiaries
shall commence a voluntary case concerning itself under Title 11 of the United States Code entitled “Bankruptcy,” as now or hereafter in effect, or any successor thereto (the “Bankruptcy Code”); or an involuntary case is
commenced against the Company or any of its Subsidiaries and the petition is not controverted within 10 days, or is not dismissed within 60 days, after commencement of the case; or a custodian (as defined in the Bankruptcy Code) is appointed for, or
takes charge of, all or substantially all of the property of the Company or any of its Subsidiaries, or the Company or any of its Subsidiaries commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of
debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to the Company or any of its Subsidiaries, or there is commenced against the Company or any of its Subsidiaries any such
proceeding which remains undismissed for a period of 60 days; or the Company or any of its Subsidiaries is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding is entered; or the Company or
any of its Subsidiaries suffers any appointment of any custodian or the like for it or any substantial part of its property to continue undischarged or unstayed for a period of 60 days; or the Company or any of its Subsidiaries makes a general
assignment for the benefit of creditors; or any corporate action is taken by the Company or any of its Subsidiaries for the purpose of effecting any of the foregoing; or 
 9.06    ERISA. An ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA Events that have occurred, has resulted
or could reasonably be expected to result in liability of the Company and/or its Subsidiaries in an amount that could have a Material Adverse Effect; or 
 9.07    Security Documents. Except (x) in each case to the extent resulting from the failure of the Collateral Agent to retain possession of the applicable Pledged
Securities and (y) in respect of an immaterial portion of the Collateral, at any time after the execution and delivery thereof, any of the Security Documents shall cease to be in full force and effect, or shall cease to give the Collateral
Agent for the benefit of the Secured Creditors the First Priority Liens, rights, powers and privileges purported to be created thereby (including, without limitation, a perfected security interest in, and Lien on, all of the Collateral to the extent
required by the Security Documents), in favor of the Collateral Agent, and subject to no other Liens other than Permitted Liens, or any Credit Party shall default in the due performance or observance of any term, covenant or agreement on its part to
be performed or observed pursuant to any of the Security Documents; or 
 9.08    Guarantees.
(a) Any Guarantee or any provision thereof shall cease to be in full force or effect as to the relevant Guarantor, or any Guarantor or Person acting by or on behalf of such Guarantor shall deny or disaffirm such Guarantor’s obligations
under the relevant Guarantee, or (b) except as otherwise provided in Section 9.01(b), any Guarantor shall default in the due performance or observance of any term, covenant or agreement on its part to be performed or observed pursuant to
such Guarantee; provided that, with respect to defaults under the Subsidiary Guarantee which relate to covenants in Section 7 of this Agreement for which a grace period is applicable under Section 9.03(iii), such Guarantors shall
have the benefit of the grace period set forth in Section 9.03(iii); or 
 9.09    Judgments.
One or more judgments or decrees shall be entered against the Company or any of its Subsidiaries involving in the aggregate for the Company and its Subsidiaries a liability of $10,000,000 or more (not paid or fully covered by a reputable and solvent
insurance company) and such judgments or decrees shall not have been vacated, discharged or stayed or bonded pending appeal within 60 days from the entry thereof; or 
 9.10    Change of Control. A Change of Control shall have occurred; or 

  
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 9.11    ABL/Term Loan Intercreditor Agreement. Any provision of
the ABL/Term Loan Intercreditor Agreement which is material to the interests of the Lenders shall cease to be in full force or effect (except in accordance with its terms); 
 then, and in any such event, and at any time thereafter, if any Event of Default shall then be continuing, the Administrative Agent, upon the written request of the Required Lenders, shall by written
notice to the Company, take any or all of the following actions, without prejudice to the rights of the Administrative Agent, any Lender or the holder of any Note to enforce its claims against any Credit Party (provided that, if an Event of
Default specified in Section 9.05 shall occur with respect to the Company, the result which would occur upon the giving of written notice by the Administrative Agent to the Company as specified in clauses (i) and (ii) below shall
occur automatically without the giving of any such notice): (i) declare the Total Commitments terminated, whereupon the Commitment of each Lender shall forthwith terminate immediately; (ii) declare the principal of and any accrued interest
in respect of all Loans and the Notes and all Obligations owing hereunder and thereunder to be, whereupon the same shall become, forthwith due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
waived by each Credit Party; (iii) enforce, as Collateral Agent, all of the Liens and security interests created pursuant to the Security Documents; and (iv) apply any cash collateral held pursuant to this Agreement to pay Obligations.

 SECTION 10.    The Administrative Agent. 

10.01    Appointment. 
 (a)      The Lenders hereby irrevocably designate and appoint DBTCA as Administrative Agent (for purposes of this Section 10 and Section 11.01, the term
“Administrative Agent” also shall include DBTCA in its capacity as Collateral Agent pursuant to the Security Documents) to act as specified herein and in the other Credit Documents. Each Lender hereby irrevocably authorizes, and each
holder of any Note by the acceptance of such Note shall be deemed irrevocably to authorize, the Administrative Agent to take such action on its behalf under the provisions of this Agreement, the other Credit Documents and any other instruments and
agreements referred to herein or therein and to exercise such powers and to perform such duties hereunder and thereunder as are specifically delegated to or required of the Administrative Agent by the terms hereof and thereof and such other powers
as are reasonably incidental thereto. The Administrative Agent may perform any of its respective duties hereunder by or through its officers, directors, agents, employees or affiliates. 

(b)      Each Lender hereby authorizes the Administrative Agent to take such action as agent on its behalf
and for its benefit and to exercise such powers under this Agreement and the other Credit Documents as are delegated to such Administrative Agent by the terms hereof and thereof, together with powers as are reasonably incidentally thereto. Each
Lender (including the Required Lenders under and as defined in the Original Credit Agreement) hereby give the Administrative Agent and the Collateral agent their consent to enter into the ABL/Term Loan Intercreditor Agreement and hereby authorize
the Administrative Agent and the Collateral Agent to take such actions, including without limitation making such filings and entering into Amendment No. 1 to the Security Agreement, Amendment No. 1 to the Pledge Agreement and Amendment
No. 1 to the Subsidiary Guarantee (in each case, in substantially the form provided to the Lenders, with such changes thereto as the Administrative Agent may deem reasonably necessary or appropriate), as may be necessary or desirable to reflect
the intent of this Agreement. 
 10.02      Nature of Duties. The Administrative Agent
shall not have any duties or responsibilities except those expressly set forth in this Agreement and in the other Credit Documents. Neither the Administrative Agent nor any of its officers, directors, agents, employees or affiliates shall be

  
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liable for any action taken or omitted by it or them hereunder or under any other Credit Document or in connection herewith or therewith, unless caused by its or their gross negligence or willful
misconduct. The duties of the Administrative Agent shall be mechanical and administrative in nature; the Administrative Agent shall not have by reason of this Agreement or any other Credit Document a fiduciary relationship in respect of any Lender
or the holder of any Note; and nothing in this Agreement or in any other Credit Document, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of this Agreement or any
other Credit Document except as expressly set forth herein or therein. 
 10.03    Lack of Reliance on
the Administrative Agent. Independently and without reliance upon the Administrative Agent, each Lender and the holder of each Note, to the extent it deems appropriate, has made and shall continue to make (i) its own independent
investigation of the financial condition and affairs of the Company and its Subsidiaries in connection with the making and the continuance of the Loans and the taking or not taking of any action in connection herewith and (ii) its own appraisal
of the creditworthiness of the Company and its Subsidiaries and, except as expressly provided in this Agreement, the Administrative Agent shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Lender or
the holder of any Note with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Administrative Agent shall not be responsible to any Lender
or the holder of any Note for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith or for the execution, effectiveness, genuineness, validity,
enforceability, perfection, collectibility, priority or sufficiency of this Agreement or any other Credit Document or the financial condition of the Company and its Subsidiaries or be required to make any inquiry concerning either the performance or
observance of any of the terms, provisions or conditions of this Agreement or any other Credit Document, or the financial condition of the Company and its Subsidiaries or the existence or possible existence of any Default or Event of Default.

 10.04    Certain Rights of the Administrative Agent. If the Administrative Agent shall request
instructions from the Required Lenders with respect to any act or action (including failure to act) in connection with this Agreement or any other Credit Document, the Administrative Agent shall be entitled to refrain from such act or taking such
action unless and until the Administrative Agent shall have received instructions from the Required Lenders; and the Administrative Agent shall not incur liability to any Lender or the holder of any Note by reason of so refraining. Without limiting
the foregoing, no Lender or the holder of any Note shall have any right of action whatsoever against the Administrative Agent as a result of the Administrative Agent acting or refraining from acting hereunder or under any other Credit Document in
accordance with the instructions of the Required Lenders. 
 10.05    Reliance. The Administrative
Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, statement, certificate, telex, teletype or telecopier message, cablegram, radiogram, order or other document or telephone message
signed, sent or made by any Person that the Administrative Agent believed to be the proper Person, and, with respect to all legal matters pertaining to this Agreement and any other Credit Document and its duties hereunder and thereunder, upon advice
of counsel selected by the Administrative Agent. 
 10.06    Indemnification. 

(a)      To the extent the Administrative Agent (or any affiliate thereof) is not reimbursed and
indemnified by the Company, the Lenders will reimburse and indemnify the Administrative Agent (and any affiliate thereof), in proportion to their respective “percentage” as used in determining the Required Lenders (determined by the
Lenders share of the aggregate outstanding Loans at the time), for and against any and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments, 

  
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costs, expenses or disbursements of whatsoever kind or nature (including, without limitation, any customary indemnifications provided to a deposit account bank pursuant to a “control
agreement” referred to in the Security Agreement) which may be imposed on, asserted against or incurred by the Administrative Agent (or any affiliate thereof) in performing its respective duties hereunder or under any other Credit Document,
(including with respect to any agreements or other instruments referred to herein or therein) or in any way relating to or arising out of this Agreement or any other Credit Document; provided that no Lender shall be liable for any portion of
such liabilities, obligations, losses, damages, penalties, claims, actions, judgments, suits, costs, expenses or disbursements resulting from the Administrative Agent’s (or such affiliate’s) bad faith, gross negligence or willful
misconduct (each as determined by a court of competent jurisdiction). 
 (b)      The
Administrative Agent (and any affiliate thereof) shall be fully justified in failing or refusing to take any action hereunder and under any other Credit Document (except actions expressly required to be taken by it hereunder or under the Credit
Documents) unless it shall first be indemnified to its satisfaction by the Lenders pro rata against any and all liability, cost and expense that it may incur by reason of taking or continuing to take any such action. 

10.07    The Administrative Agent in Its Individual Capacity. With respect to its obligation to make Loans
under this Agreement, the Administrative Agent shall have the rights and powers specified herein for a “Lender” and may exercise the same rights and powers as though it were not performing the duties specified herein; and the term
“Lenders,” “Required Lenders,” “holders of Notes” or any similar terms shall, unless the context clearly indicates otherwise, include the Administrative Agent in its respective individual capacities. The Administrative
Agent and its affiliates may accept deposits from, lend money to, and generally engage in any kind of banking, investment banking, trust or other business with, or provide debt financing, equity capital or other services (including financial
advisory services) to any Credit Party or any Affiliate of any Credit Party (or any Person engaged in a similar business with any Credit Party or any Affiliate thereof) as if they were not performing the duties specified herein, and may accept fees
and other consideration from any Credit Party or any Affiliate of any Credit Party for services in connection with this Agreement and otherwise without having to account for the same to the Lenders. 

10.08    Holders. The Administrative Agent may deem and treat the payee of any Note as the owner thereof for
all purposes hereof unless and until a written notice of the assignment, transfer or endorsement thereof, as the case may be, shall have been filed with the Administrative Agent. Any request, authority or consent of any Person who, at the time of
making such request or giving such authority or consent, is the holder of any Note shall be conclusive and binding on any subsequent holder, transferee, assignee or endorsee, as the case may be, of such Note or of any Note or Notes issued in
exchange therefor. 
 10.09    Resignation by the Administrative Agent. 

(a)      The Administrative Agent may resign from the performance of all its respective functions and
duties hereunder and/or under the other Credit Documents at any time by giving 15 Business Days’ prior written notice to the Lenders and, unless a Default or an Event of Default under Section 9.05 then exists, the Company. 

(b)      Upon any such notice of resignation by the Administrative Agent, the Required Lenders shall
appoint a successor Administrative Agent hereunder or thereunder who shall be a commercial bank or trust company reasonably acceptable to the Company, which acceptance shall not be unreasonably withheld or delayed (provided that the
Company’s approval shall not be required if an Event of Default then exists). 

  
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 (c)      If a successor Administrative Agent shall not have
been so appointed within such 15 Business Day period, the Administrative Agent, with the consent of the Company (which consent shall not be unreasonably withheld or delayed, provided that the Company’s consent shall not be required if an
Event of Default then exists), shall then appoint a successor Administrative Agent who shall serve as Administrative Agent hereunder or thereunder until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided
above. 
 (d)      If no successor Administrative Agent has been appointed pursuant to clause
(b) or (c) above by the 30th Business Day after the date such notice of resignation was given by the Administrative Agent, the Administrative Agent’s resignation shall become effective and the Required Lenders shall thereafter perform
all the duties of the Administrative Agent hereunder and/or under any other Credit Document until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided above. 

(e)      Upon a resignation of the Administrative Agent pursuant to this Section 10.09, the
Administrative Agent shall remain indemnified to the extent provided in this Agreement and the other Credit Documents and the provisions of this Section 10 shall continue in effect for the benefit of the Administrative Agent for all of its
actions and inactions while serving as the Administrative Agent. 
 SECTION
11.      Miscellaneous. 
 11.01    Payment of Expenses, etc.
The Company hereby agrees to: (a) whether or not the transactions herein contemplated are consummated, pay all reasonable out-of-pocket costs and expenses (including Expenses) of the Administrative Agent and the Collateral Agent (including,
without limitation, the reasonable fees and disbursements of Cahill Gordon & Reindel LLP and the Administrative Agent’s other counsel and consultants) in connection with the preparation, execution, delivery and administration of this
Agreement and the other Credit Documents and the documents and instruments referred to herein and therein and any amendment, waiver or consent relating hereto or thereto, of the Administrative Agent and its affiliates in connection with its or their
syndication efforts with respect to this Agreement and of the Administrative Agent and, after the occurrence and during the continuance of an Event of Default, each of the Lenders in connection with the enforcement of this Agreement and the other
Credit Documents and the documents and instruments referred to herein and therein or in connection with any refinancing or restructuring of the credit arrangements provided under this Agreement in the nature of a “work-out” or pursuant to
any insolvency or bankruptcy proceedings (including, in each case without limitation, the reasonable fees and disbursements of counsel and consultants for the Administrative Agent and, after the occurrence and during the continuance of an Event of
Default, counsel for Lenders); (b) pay and hold the Administrative Agent and each of the Lenders harmless from and against any and all present and future stamp, excise and other similar documentary taxes with respect to the foregoing matters
and save the Administrative Agent and each of the Lenders harmless from and against any and all liabilities with respect to or resulting from any delay or omission (other than to the extent attributable to the Administrative Agent or such Lender) to
pay such taxes; and (c) indemnify the Administrative Agent, the Collateral Agent and each Lender, and each of their respective officers, directors, employees, representatives, agents, affiliates, trustees and investment advisors from and hold
each of them harmless against any and all liabilities, obligations (including removal or remedial actions), losses, damages, penalties, claims, actions, judgments, suits, costs, expenses and disbursements (including reasonable attorneys’ and
consultants’ fees and disbursements) incurred by, imposed on or assessed against any of them as a result of, or arising out of, or in any way related to, or by reason of, (i) any investigation, litigation or other proceeding (whether or
not the Administrative Agent, the Collateral Agent or any Lender is a party thereto and whether or not such investigation, litigation or other proceeding is brought by or on behalf of any Credit Party) related to the entering into and/or performance
of this Agreement or any other Credit Document or the use of the proceeds of any Loans hereunder or the consummation of the Transaction or any other 

  
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transactions contemplated herein or in any other Credit Document or the exercise of any of their rights or remedies provided herein or in the other Credit Documents, or (ii) the presence,
Release or threatened Release of Hazardous Material on, at, under or from any Real Property at any time owned, leased or operated by the Company or any of its Subsidiaries, the generation, storage, treatment, transportation, handling or Release of
Hazardous Material by the Company or any of its Subsidiaries at any location, whether or not owned, leased or operated by the Company or any of its Subsidiaries, the non-compliance by the Company or any of its Subsidiaries with any Environmental Law
(including applicable permits thereunder) applicable to their respective operations or any Real Property, or any Environmental Claim asserted against the Company, any of its Subsidiaries or any Real Property at any time owned, leased or operated by
the Company or any of its Subsidiaries, including, in each case, without limitation, the reasonable fees and disbursements of counsel and other consultants incurred in connection with any such investigation, litigation or other proceeding (but
excluding any losses, liabilities, claims, damages or expenses to the extent incurred by reason of the bad faith, gross negligence or willful misconduct of the Person to be indemnified (each as determined by a court of competent jurisdiction)). To
the extent that the undertaking to indemnify, pay or hold harmless the Administrative Agent, the Collateral Agent or any Lender set forth in the preceding sentence may be unenforceable because it is violative of any law or public policy, the Company
agrees to make the maximum contribution to the payment and satisfaction of each of the indemnified liabilities which is permissible under applicable law. 
 11.02    Right of Setoff. 

(a)      In addition to any rights now or hereafter granted under applicable law or otherwise, and not by
way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default, each Lender is hereby authorized at any time or from time to time, without presentment, demand, protest or other notice of any kind to any
Credit Party or to any other Person, any such notice being hereby expressly waived, to set off and to appropriate and apply any and all deposits (general or special) and any other Indebtedness at any time held or owing by such Lender (including,
without limitation, by branches and agencies of such Lender wherever located) to or for the credit or the account of each Credit Party against and on account of the Obligations and liabilities of such Credit Party to such Lender under this Agreement
or under any of the other Credit Documents, including, without limitation, all interests in Obligations purchased by such Lender pursuant to Section 11.06(b), and all other claims of any nature or description arising out of or connected with
this Agreement or any other Credit Document, irrespective of whether or not such Lender shall have made any demand hereunder and although said Obligations, liabilities or claims, or any of them, shall be contingent or unmatured. 

11.03    Notices. Except as otherwise expressly provided herein, all notices and other communications provided
for hereunder shall be in writing (including facsimile communication) and mailed, telecopied or delivered: if to the Company, at its address specified opposite its signature below; if to any Lender, at its address specified on Schedule 1.01(b); and
if to the Administrative Agent, at its Notice Office; or, as to any Credit Party or the Administrative Agent, at such other address as shall be designated by such party in a written notice to the other parties hereto and, as to each Lender, at such
other address as shall be designated by such Lender in a written notice to the Company and the Administrative Agent. All such notices and communications shall, when mailed, telegraphed, telexed, facsimiled, or cabled or sent by overnight courier, be
effective three Business Days after deposited in the mails, certified, return receipt requested, when delivered to the telegraph company, cable company or one day following delivery to an overnight courier, as the case may be, or when sent by telex
or facsimile device, except that notices and communications to the Administrative Agent shall not be effective until received by the Administrative Agent. 

  
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 11.04      Benefit of Agreement; Assignments;
Participations. 
 (a)      This Agreement shall be binding upon and inure to the benefit of
and be enforceable by the respective successors and assigns of the parties hereto; provided, however, no Credit Party may assign or transfer any of its rights, obligations or interest hereunder or under any other Credit Document
without the prior written consent of all of the Lenders; and provided, further, that although any Lender may transfer, assign or grant participations in its rights hereunder, such Lender shall remain a “Lender” for all
purposes hereunder (and may not transfer or assign all or any portion of its Commitments or Loans hereunder except as provided in Sections 2.13 and 11.04(b)) and the transferee, assignee or the participant as the case may be shall not constitute a
“Lender” hereunder; and provided, further, that no Lender shall transfer or grant any participation under which the participant shall have rights to approve any amendment to or waiver of this Agreement or any other Credit
Document except to the extent such amendment or waiver would (i) extend the final scheduled maturity of any Loan or Note in which such participant is participating, or reduce the rate or extend the time of payment of interest or Fees thereon
(except in connection with a waiver of applicability of any post-default increase in interest rates) or reduce the principal amount thereof, (it being understood that any amendment or modification to the financial definitions in this Agreement or to
Section 11.07(a) shall not constitute a reduction in the rate of interest or Fees payable hereunder), or increase the amount of the participant’s participation over the amount thereof then in effect (it being understood that a waiver of
any Default or Event of Default or of a mandatory reduction in the Total Commitment shall not constitute a change in the terms of any Commitment, and that an increase in any Commitment shall be permitted without the consent of any participant if the
participant’s participation is not increased as a result thereof), (ii) consent to the assignment or transfer by any Credit Party of any of its rights and obligations under this Agreement or (iii) release all or substantially all of
the Collateral under all of the Security Documents (in each case except as expressly provided in the Credit Documents), or any Guarantor or Guarantee (in each case except as expressly provided in the relevant Credit Documents) supporting the Loans
hereunder in which such participant is participating. In the case of any such participation, the participant shall not have any rights under this Agreement or any of the other Credit Documents (the participant’s rights against such Lender in
respect of such participation to be those set forth in the agreement executed by such Lender in favor of the participant relating thereto) and all amounts payable by the Company hereunder shall be determined as if such Lender had not sold such
participation. A participant shall not be entitled to receive any greater payment under Section 4.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such participant, unless the sale of
the participation to such participant is made with the Company’s prior written consent or the right to greater payment results from a change in law after the participant becomes a participant. Each Lender that sells a participation shall,
acting solely for this purpose as a non-fiduciary agent of the Company, maintain a register on which it enters the name and address of each participant and the principal amount of each participant’s interest in the Loans held by it (the
“Participant Register”). The entries in the Participant Register shall be conclusive, absent manifest error, and such Lender (but not any Agent, any Company or any other Lender) shall treat each Person whose name is recorded in the
Participant Register as the owner of such Loan or other obligation hereunder as the owner thereof for all purposes of this Agreement notwithstanding any notice to the contrary. 

(b)      Notwithstanding the foregoing, any Lender (or any Lender together with one or more other Lenders)
may (x) assign all or a portion of its Commitment and related outstanding Obligations (or, if the Commitment has terminated, outstanding Obligations) hereunder to (i) (A) its parent company and/or any affiliate of such Lender which is
at least 50% owned by such Lender or its parent company or (B) to one or more other Lenders or any affiliate of any such other Lender which is at least 50% owned by such other Lender or its parent company (provided that any fund that
invests in loans and is managed or advised by the same investment advisor of another fund which is a Lender (or by an Affiliate of such investment advisor or by an Affiliate of a Lender) shall be treated as an affiliate of such

  
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other Lender for the purposes of this subclause (x)(i)(B)), or (ii) in the case of any Lender that is a fund that invests in loans, any other fund that invests in loans and is managed or
advised by the same investment advisor of any Lender or by an affiliate of such investment advisor or (y) assign all, or if less than all, a portion equal to at least $1,000,000 hereunder to one or more Eligible Transferees (treating any fund
that invests in loans and any other fund that invests in loans and is managed or advised by the same investment advisor of such fund or by an affiliate of such investment advisor as a single Eligible Transferee), each of which assignees shall become
a party to this Agreement as a Lender by execution of an Assignment and Assumption Agreement; provided that (v) at such time, Schedule 1.01(a) shall be deemed modified to reflect the Commitments of such new Lender and of the existing
Lenders, (w) upon the surrender of the relevant Note by the assigning Lender (or, upon such assigning Lender’s indemnifying the Company for any lost Note pursuant to a customary indemnification agreement) new Notes will be issued, at the
Company’s expense, to such new Lender and to the assigning Lender upon the request of such new Lender or assigning Lender, such new Notes to be in conformity with the requirements of Section 2.05 (with appropriate modifications) to the
extent needed to reflect the revised Commitments, (x)the consent of the Administrative Agent shall be required in connection with any such assignment pursuant to clause (y) above (such consent, in any case, not to be unreasonably withheld,
delayed or conditioned), (y) the Administrative Agent shall receive at the time of each such assignment (other than an assignment between a Lender and its Affiliates), from the assigning or assignee Lender, the payment of a non-refundable
assignment fee of $3,500 and (z) no such transfer or assignment will be effective until recorded by the Administrative Agent on the Register pursuant to Section 11.13. To the extent of any assignment pursuant to this Section 11.04(b),
the assigning Lender shall be relieved of its obligations hereunder with respect to its assigned Commitment. 

(c)      Nothing in this Agreement shall prevent or prohibit any Lender from pledging its Loans and Notes
hereunder to a Federal Reserve Bank in support of borrowings made by such Lender from such Federal Reserve Bank and, with prior notification to the Administrative Agent (but without the consent of the Administrative Agent or the Company), any Lender
which is a fund may pledge all or any portion of its Loans and Notes to its trustee or to a collateral agent providing credit or credit support to such Lender in support of its obligations to such trustee, such collateral agent or a holder of such
obligations, as the case may be. No pledge pursuant to this clause (c) shall release the transferor Lender from any of its obligations hereunder. 
 (d)      Any Lender which assigns all of its Commitment and/or Loans hereunder in accordance with Section 11.04(b) shall cease to constitute a “Lender”
hereunder, except with respect to indemnification provisions under this Agreement (including, without limitation, Sections 2.10, 2.11, 4.04, 10.06, 11.01 and 11.06), which shall survive as to such assigning Lender. 

11.05    No Waiver; Remedies Cumulative. No failure or delay on the part of the Administrative Agent or any
Lender or any holder of any Note in exercising any right, power or privilege hereunder or under any other Credit Document and no course of dealing between the Company or any other Credit Party and the Administrative Agent or any Lender or the holder
of any Note shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or privilege hereunder or under any other Credit Document preclude any other or further exercise thereof or the exercise of any other right,
power or privilege hereunder or thereunder. The rights, powers and remedies herein or in any other Credit Document expressly provided are cumulative and not exclusive of any rights, powers or remedies which the Administrative Agent or any Lender or
the holder of any Note would otherwise have. No notice to or demand on any Credit Party in any case shall entitle any Credit Party to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the
Administrative Agent or any Lender or the holder of any Note to any other or further action in any circumstances without notice or demand. 

  
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 11.06    Payments Pro Rata. 

(a)      The Administrative Agent agrees that promptly after its receipt of each payment from or on behalf
of the Company in respect of any Obligations hereunder, it shall distribute such payment to the Lenders pro rata based upon their respective shares, if any, of the Obligations with respect to which such payment was received.

 (b)      Each of the Lenders agrees that, if it should receive any amount hereunder (whether by
voluntary payment, by realization upon security, by the exercise of the right of setoff or banker’s lien, by counterclaim or cross action, by the enforcement of any right under the Credit Documents, or otherwise), which is applicable to the
payment of the principal of, or interest on, the Loans or Fees, of a sum which with respect to the related sum or sums received by other Lenders is in a greater proportion than the total of such Obligation then owed and due to such Lender bears to
the total of such Obligation then owed and due to all of the Lenders immediately prior to such receipt, then such Lender receiving such excess payment shall purchase for cash without recourse or warranty from the other Lenders an interest in the
Obligations of the respective Credit Party to such Lenders in such amount as shall result in a proportional participation by all the Lenders in such amount; provided that if all or any portion of such excess amount is thereafter recovered
from such Lender, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. 
 11.07    Calculations; Computations. 

(a)      The financial statements to be furnished to the Lenders pursuant hereto shall be made and prepared
in accordance with generally accepted accounting principles in the United States consistently applied throughout the periods involved (except as set forth in the notes thereto or as otherwise disclosed in writing by the Company to the Lenders; it
being understood and agreed that notes may be absent in the interim financial statements). In addition, except as otherwise specifically provided herein, all computations determining compliance with Sections 4.02 and 8, including definitions used
therein, and for all purposes of determining Capital Expenditures, the Interest Coverage Ratio, Net Leverage Ratio and Senior Secured Net Leverage Ratio, shall utilize accounting principles and policies in effect from time to time; provided
that, if the Company notifies the Administrative Agent that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Amendment and Restatement Effective Date in GAAP or in the application
thereof on the operation of such provision (or if the Administrative Agent notifies the Company that it or the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or
after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or
such provision amended in accordance herewith. Notwithstanding the foregoing, to the extent expressly required pursuant to the provisions of this Agreement, certain calculations shall be made on a pro forma basis. 

(b)      All computations of interest and Fees hereunder shall be made on the basis of a year of 360 days
(except for interest calculated by reference to the Prime Lending Rate, which shall be based on a year of 365 or 366 days, as applicable) for the actual number of days (including the first day but excluding the last day) occurring in the period for
which such interest or Fees are payable. 
 11.08    GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE;
WAIVER OF JURY TRIAL. 
 (a)      THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL, 

  
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EXCEPT AS OTHERWISE PROVIDED IN THE MORTGAGES, BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. Subject to the final sentence of this clause (a), any legal
action or proceeding with respect to this Agreement or any other Credit Document shall be brought in the Courts of the State of New York or of the United States for the Southern District of New York, and, by execution and delivery of this agreement,
the Company hereby irrevocably accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. Each Credit Party hereby further irrevocably waives any claim that such courts lack
jurisdiction over such Credit Party, and agrees not to plead or claim, in any legal action or proceeding with respect to this Agreement or any other Credit Document brought in any of the aforesaid courts, that any such court lacks jurisdiction over
such Credit Party. The Company irrevocably consents to the service of process out of any of the aforementioned courts in any such action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to the Company
at its address set forth opposite its signature below, such service to become effective 30 days after such mailing. Nothing herein shall affect the right of the Administrative Agent under this Agreement, any Lender or the holder of any Note to serve
process in any other manner permitted by law or to commence legal proceedings or otherwise proceed against any Credit Party in any other jurisdiction in connection with its exercise of rights under any Security Document or the enforcement of any
judgment. 
 (b)      The Company hereby irrevocably waives any objection which it may now or
hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection with this Agreement or any other credit document brought in the Courts referred to in clause (a) above and hereby further
irrevocably waives and agrees not to plead or claim in any such Court that any such action or proceeding brought in any such Court has been brought in an inconvenient forum. 
 (c)      Each of the parties to this Agreement hereby irrevocably waives all right to a trial by jury in any action, proceeding or counterclaim arising out of or relating to
this Agreement, the other credit documents or the transactions contemplated hereby or thereby. 

11.09    Counterparts. This Agreement may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be
lodged with the Company and the Administrative Agent. Delivery of an executed counterpart hereof by facsimile or electronic transmission shall be as effective as delivery of an original executed counterpart hereof. 

11.10    Headings Descriptive. The headings of the several sections and subsections of this Agreement are
inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement. 

11.11    Amendment or Waiver. 
 (a)      Neither this Agreement nor any other Credit Document nor any terms hereof or thereof may be changed, waived, discharged or terminated unless such change, waiver,
discharge or termination is in writing signed by the respective Credit Parties party hereto or thereto and the Required Lenders (although additional parties may be added to (and annexes may be modified to reflect such additions), and Subsidiaries of
the Company may be released from, this Agreement, the Subsidiary Guarantee and the Security Documents in accordance with the provisions hereof and thereof without the consent of the other Credit Parties party thereto or the Required Lenders);
provided that no such change, waiver, discharge or termination shall, without the consent of each Lender (with Obligations being directly affected in the case of following clause (i)), (i) extend the final scheduled maturity of any Loan
or Note beyond the Final Maturity Date, or reduce (or forgive) the rate or extend the time of payment of interest 

  
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or Fees thereon (except in connection with the waiver of applicability of any post-default increase in interest rates), or reduce the principal amount thereof (it being understood that any
amendment or modification to the financial definitions in this Agreement or to Section 11.07(a) shall not constitute a reduction in the rate of interest or Fees for the purposes of this clause (i)), (ii) release all or substantially all of
the Collateral (except as expressly provided in the Credit Documents) under all the Security Documents,(iii) release all or substantially all of the Guarantors under the Guarantees, (iv) amend, modify or waive any provision of this
Section 11.12 (except for technical amendments with respect to additional extensions of credit pursuant to this Agreement which afford the protections to such additional extensions of credit of the type provided to the Commitments and the Loans
on the Restatement Effective Date), (v) reduce the percentage specified in the definition of Required Lenders (it being understood that, with the consent of the Required Lenders, additional extensions of credit pursuant to this Agreement may be
included in the determination of the Required Lenders on substantially the same basis as the extensions of Commitments and the Loans are included on the Restatement Effective Date), (vi) amend the definition of “Interest Period” so as
to permit interest periods in excess of six months without requiring the consent of all Lenders or (vii) consent to the assignment or transfer by the Company of any of its rights and obligations under this Agreement; provided,
further, that no such change, waiver, discharge or termination shall (1) increase the Commitment of any Lender over the amount thereof then in effect without the consent of such Lender (it being understood that waivers or modifications
of conditions precedent, covenants, Defaults or Events of Default or of a mandatory reduction in the Total Commitment shall not constitute an increase of the Commitment of any Lender, and that an increase in the available portion of any Commitment
of any Lender shall not constitute an increase of the Commitment of such Lender), (2) without the consent of the Administrative Agent, amend, modify or waive any provision of Section 10 or any other provision as same relates to the rights
or obligations of the Administrative Agent, or (3) without the consent of Collateral Agent, amend, modify or waive any provision relating to the rights or obligations of the Collateral Agent. Notwithstanding anything to the contrary herein, no
Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the
consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment or Loans of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or
modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender in its capacity as a Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender.

 (b)      If, in connection with any proposed change, waiver, discharge or termination of or to
any of the provisions of this Agreement as contemplated by clauses (i) through (vii), inclusive, of the first proviso to Section 11.11(a), the consent of the Required Lenders is obtained but the consent of one or more of such other Lenders
whose consent is required is not obtained, then the Company shall have the right, so long as all non-consenting Lenders whose individual consent is required are treated as described in either clause (A) or (B) below, to either
(A) replace each such non-consenting Lender or Lenders with one or more Replacement Lenders pursuant to Section 2.13 so long as at the time of such replacement, each such Replacement Lender consents to the proposed change, waiver,
discharge or termination or (B) terminate such non-consenting Lender’s Commitment and/or repay all outstanding Loans of such Lender; provided that, unless the Commitments which are terminated and Loans which are repaid pursuant to
preceding clause (B) are immediately replaced in full at such time through the addition of new Lenders or the increase of the Commitments and/or outstanding Loans of existing Lenders (who in each case must specifically consent thereto), then in
the case of any action pursuant to preceding clause (B), the Required Lenders (determined after giving effect to the proposed action) shall specifically consent thereto; provided, further, that the Company shall not have the right to
replace a Lender, terminate its Commitment or repay its Loans solely as a result of the exercise of such Lender’s rights 

  
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(and the withholding of any required consent by such Lender) pursuant to the second proviso to Section 11.11(a). 
 (c)      Notwithstanding anything to the contrary contained above in this Section 11.11, the Administrative Agent and/or the Collateral Agent may (i) enter into
amendments to the Subsidiary Guarantee and the Security Documents for the purpose of adding additional Subsidiaries of the Company (or other Credit Parties) as parties thereto and (ii) enter into security documents to satisfy the requirements
of Section 7.11, without the consent of the Required Lenders. 
 (d) In addition, notwithstanding the foregoing, this
Agreement may be amended with the written consent of the Administrative Agent, the Company and the Lenders providing the relevant Replacement Term Loans (as defined below) to permit the refinancing of all outstanding Loans (“Refinanced Term
Loans”) with a replacement term loan tranche denominated in Dollars (“Replacement Term Loans”) hereunder; provided that (a) the aggregate principal amount of such Replacement Term Loans shall not exceed the aggregate
principal amount of such Refinanced Term Loans, (b) the Applicable Margin for such Replacement Term Loans shall not be higher than the Applicable Margin for such Refinanced Term Loans, (c) the Weighted Average Life to Maturity of such
Replacement Term Loans shall not be shorter than the Weighted Average Life to Maturity of such Refinanced Term Loans, respectively, at the time of such refinancing (except to the extent of nominal amortization for periods where amortization has been
eliminated as a result of prepayment of the applicable Loans) and (d) all other terms applicable to such Replacement Term Loans shall be substantially identical to, or less favorable to the Lenders providing such Replacement Term Loans than,
those applicable to such Refinanced Term Loans except to the extent necessary to provide for covenants and other terms applicable to any period after the latest final maturity of the Loans in effect immediately prior to such refinancing. 

11.12    Confidentiality. 
 (a)      Subject to the provisions of clause (b) of this Section 11.12, each Lender agrees that it will use its reasonable efforts not to disclose without the prior
consent of the Company (other than to its employees, auditors, advisors or counsel or to another Lender if the Lender or such Lender’s holding or parent company in its sole discretion determines that any such party should have access to such
information, provided such Persons shall be subject to the provisions of this Section 11.12 to the same extent as such Lender) any information with respect to the Company or any of its Subsidiaries which is now or in the future furnished
pursuant to this Agreement or any other Credit Document and which is designated by the Company to the Lenders in writing as confidential or would customarily be treated as confidential in banking practice; provided that any Lender may
disclose any such information (a) as has become generally available to the public, (b) as may be required or appropriate in any report, statement or testimony submitted to any municipal, state or Federal regulatory body having or claiming
to have jurisdiction over such Lender or to the Federal Reserve Board or the Federal Deposit Insurance Corporation or similar organizations (whether in the United States or elsewhere) or their successors, (c) as may be required or appropriate
in respect to any summons or subpoena or in connection with any litigation,(d)in order to comply with any law, order, regulation or ruling applicable to such Lender, (e) to the Administrative Agent or the Collateral Agent and (f) to any
prospective or actual transferee or participant (or its investment advisor) in connection with any contemplated transfer or participation of any of the Notes or Commitments or any interest therein by such Lender; provided that such
prospective transferee agrees to maintain the confidentiality contained in this Section 11.12. 

(b)      The Company hereby acknowledges and agrees that each Lender may share with any of its Lending
Affiliates any information related to the Company or any of its Subsidiaries (including, without limitation, any nonpublic customer information regarding the creditworthiness of the 

  
 -89-

 
Company, the Company and its Subsidiaries, provided such Persons shall be subject to the provisions of this Section 11.13 to the same extent as such Lender). 

11.13    Register. The Company hereby designates the Administrative Agent to serve as its agent, solely for
purposes of this Section 11.13, to maintain a register (the “Register”) on which it will record the Commitment from time to time of each of the Lenders, the Loans made by each of the Lenders and each repayment in respect of the
principal amount of the Loans of each Lender. Failure to make any such recordation, or any error in such recordation, shall not affect the Company’s obligations in respect of such Loans. The Register shall be available for inspection by
Borrower and any Lender (with respect to its own interest only), at any reasonable time and from time to time upon reasonable prior notice. With respect to any Lender, the transfer of the Commitment of such Lender and the rights to the principal of,
and interest on, any Loan made pursuant to such Commitment shall not be effective until such transfer is recorded on the Register maintained by the Administrative Agent with respect to ownership of such Commitment and Loans and prior to such
recordation all amounts owing to the transferor with respect to such Commitment and Loans shall remain owing to the transferor. The registration of the assignment or transfer of all or part of any Commitment and Loans shall be recorded by the
Administrative Agent on the Register only upon the acceptance by the Administrative Agent of a properly executed and delivered Assignment and Assumption Agreement pursuant to Section 11.04(b). Coincident with the delivery of such an Assignment
and Assumption Agreement to the Administrative Agent for acceptance and registration of the assignment or transfer of all or part of a Loan, or as soon thereafter as practicable, the assigning or transferor Lender shall surrender the Note evidencing
such Loan, and thereupon one or more new Notes in the same aggregate principal amount shall be issued to the assigning or transferor Lender and/or the new Lender. The Company agrees to indemnify the Administrative Agent from and against any and all
losses, claims, damages and liabilities of whatsoever nature which may be imposed on, asserted against or incurred by the Administrative Agent in performing its duties under this Section 11.13 other than those resulting from the Administrative
Agent’s willful misconduct or gross negligence. 
 11.14    USA Patriot Act. Each Lender subject
to the USA PATRIOT ACT (Title 111 of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”) hereby notifies the Company that pursuant to the requirements of the Patriot Act, they are required to obtain, verify and
record information that identifies the Company and the other Credit Parties and other information that will allow such Lender to identify the Company and the other Credit Parties in accordance with the Patriot Act. 

11.15    Survival. All indemnities set forth herein including, without limitation, in Sections 2.10, 2.11,
4.04, 10.06 and 11.01 shall survive the execution, delivery and termination of this Agreement and the Notes and the making and repayment of the Obligations. 
 11.16    Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and
other amounts which are treated as interest on such Loan under applicable Requirements of Law (collectively, the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken,
received or reserved by the Lender holding such Loan in accordance with applicable Requirements of Law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the
Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such
Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Rate to the date of repayment, shall have been received by such
Lender. 
 *    *    * 

  
 -90-

 IN WITNESS WHEREOF, the partied hereto have caused their duly authorized officers to execute
and deliver this Agreement as of the date first above written. 
  

									
	 Address:
	 		 	OMNOVA SOLUTIONS INC.	 	
					
	 175 Ghent Road
	 		 		 		 	
	 Fairlawn, Ohio 44333
	 		 	By:	 	 /s/ Chet Fox
	 	
	 Attn: Chief Financial Officer
	 		 		 	Name:  Chet Fox	 	
	 Phone: 330-869-4232
	 		 		 	Title:  VP Treasurer	 	
	 Fax: 330-869-4544
	 		 		 		 	
					
	 With a copy to
	 		 		 		 	
					
	 175 Ghent Road
	 		 		 		 	
	 Fairlawn, Ohio 44333
	 		 		 		 	
	 Attn: General Counsel
	 		 		 		 	
	 Phone: 330-869-4250
	 		 		 		 	
	 Fax: 330-869-4410
	 		 		 		 	

  
  
 [Omnova-Credit Agreement] 

 
					
	 DEUTSCHE BANK TRUST COMPANY

AMERICAS,

	 Individually and as Administrative Agent

		
	 By:
	 	 /s/ Omayra Laucella

		 	Name:	 	Omayra Laucella
		 	Title:	 	Vice President
		
	 By:
	 	 /s/ Evelyn Thierry

		 	Name:	 	Evelyn Thierry
		 	Title:	 	Director

  

 
 [Omnova-Credit Agreement]Second Amended and Restated Credit Agreement

 Exhibit 10.32 
 SECOND AMENDED AND RESTATED CREDIT AGREEMENT 
 Dated as of December 9, 2010

 among 

OMNOVA SOLUTIONS INC. and ELIOKEM, INC. 
 as the Borrowers 
 THE FINANCIAL INSTITUTIONS NAMED HEREIN 

as the Lenders 
 JPMORGAN CHASE BANK, N.A. 
 as the Agent 

KEYBANK NATIONAL ASSOCIATION and FIFTH THIRD BANK 
 As Joint Syndication Agents 
 and 

JPMORGAN SECURITIES LLC 
 as the Lead Arranger and Sole Book Runner 

							
	 	    	TABLE OF CONTENTS	  	 	 
	 Section
	    		  	 	Page	  
		
	ARTICLE 1 LOANS AND LETTERS OF CREDIT	  	 	2	  
			
	1.1	    	Total Facility	  	 	2	  
	1.2	    	Revolving Loans	  	 	2	  
	1.3	    	Letters of Credit	  	 	6	  
	1.4	    	Bank Products	  	 	10	  
		
	ARTICLE 2 INTEREST AND FEES	  	 	10	  
			
	2.1	    	Interest	  	 	10	  
	2.2	    	Continuation and Conversion Elections	  	 	11	  
	2.3	    	Maximum Interest Rate	  	 	12	  
	2.4	    	Fee Letter	  	 	13	  
	2.5	    	Unused Line Fee	  	 	13	  
	2.6	    	Letter of Credit Fee	  	 	13	  
		
	ARTICLE 3 PAYMENTS AND PREPAYMENTS	  	 	13	  
			
	3.1	    	Revolving Loans	  	 	13	  
	3.2	    	Termination of Facility	  	 	14	  
	3.3	    	Prepayments of the Loans	  	 	14	  
	3.4	    	Eurodollar Revolving Loan Prepayments	  	 	14	  
	3.5	    	Payments by the Borrowers	  	 	15	  
	3.6	    	Payments as Revolving Loans	  	 	15	  
	3.7	    	Apportionment, Application and Reversal of Payments	  	 	15	  
	3.8	    	Indemnity for Returned Payments	  	 	16	  
	3.9	    	Agent’s and Lenders’ Books and Records; Monthly Statements	  	 	16	  
		
	ARTICLE 4 TAXES, YIELD PROTECTION AND ILLEGALITY	  	 	17	  
			
	4.1	    	Taxes	  	 	17	  
	4.2	    	Illegality	  	 	18	  
	4.3	    	Increased Costs and Reduction of Return	  	 	18	  
	4.4	    	Funding Losses	  	 	19	  
	4.5	    	Inability to Determine Rates	  	 	19	  
	4.6	    	Certificates of Agent	  	 	20	  
	4.7	    	Survival	  	 	20	  
		
	ARTICLE 5 BOOKS AND RECORDS; FINANCIAL INFORMATION; NOTICES	  	 	20	  
			
	5.1	    	Books and Records	  	 	20	  
	5.2	    	Financial Information	  	 	20	  
	5.3	    	Notices to the Lenders	  	 	24	  
	5.4	    	Appraisals	  	 	26	  

  
 i 

							
	 ARTICLE 6 GENERAL WARRANTIES AND REPRESENTATIONS
	  	 	26	  
			
	6.1  	    	Authorization, Validity, and Enforceability of this Agreement and the	  			
		    	Loan Documents	  	 	26	  
	6.2  	    	Validity and Priority of Security Interest	  	 	27	  
	6.3  	    	Organization and Qualification	  	 	27	  
	6.4  	    	Corporate Name; Prior Transactions	  	 	27	  
	6.5  	    	Subsidiaries and Affiliates	  	 	27	  
	6.6  	    	Financial Statements and Projections	  	 	27	  
	6.7  	    	[Intentionally Deleted]	  	 	28	  
	6.8  	    	Solvency	  	 	28	  
	6.9  	    	Debt	  	 	28	  
	6.10	    	Dividends	  	 	28	  
	6.11	    	Real Estate; Leases; Liens	  	 	28	  
	6.12	    	Proprietary Rights	  	 	29	  
	6.13	    	Trade Names	  	 	29	  
	6.14	    	Litigation	  	 	29	  
	6.15	    	Labor Disputes	  	 	29	  
	6.16	    	Environmental Laws	  	 	30	  
	6.17	    	No Violation of Law	  	 	31	  
	6.18	    	No Default	  	 	31	  
	6.19	    	ERISA Compliance and Foreign Pension Plans	  	 	31	  
	6.20	    	Taxes	  	 	32	  
	6.21	    	Regulated Entities	  	 	32	  
	6.22	    	Use of Proceeds; Margin Regulations	  	 	32	  
	6.23	    	Copyrights, Patents, Trademarks and Licenses, etc	  	 	32	  
	6.24	    	No Material Adverse Change	  	 	33	  
	6.25	    	Full Disclosure	  	 	33	  
	6.26	    	Material Agreements	  	 	33	  
	6.27	    	Bank Accounts	  	 	33	  
	6.28	    	Governmental Authorization	  	 	33	  
	6.29	    	Insurance	  	 	33	  
	6.30	    	Inactive Subsidiaries	  	 	33	  
	6.31	    	Reportable Transaction	  	 	34	  
	6.32	    	Common Enterprise	  	 	34	  
		
	ARTICLE 7 AFFIRMATIVE AND NEGATIVE COVENANTS	  	 	34	  
			
	7.1  	    	Taxes and Other Obligations	  	 	34	  
	7.2  	    	Legal Existence and Good Standing	  	 	34	  
	7.3  	    	Compliance with Law and Agreements; Maintenance of Licenses	  	 	35	  
	7.4  	    	Maintenance of Property; Inspection of Property	  	 	35	  
	7.5  	    	Insurance	  	 	35	  
	7.6  	    	Insurance and Condemnation Proceeds	  	 	36	  
	7.7  	    	Environmental Laws	  	 	37	  
	7.8  	    	Compliance with ERISA	  	 	37	  
	7.9  	    	Mergers, Consolidations or Sales	  	 	37	  

  
 ii 

							
	7.10	    	Dividends; and Capital Changes	  	41	 
	7.11	    	Restricted Investments	  	 	41	  
	7.12	    	Guaranties	  	 	44	  
	7.13	    	Debt	  	 	45	  
	7.14	    	Prepayment	  	 	47	  
	7.15	    	Transactions with Affiliates	  	 	48	  
	7.16	    	Investment Banking and Finder’s Fees	  	 	48	  
	7.17	    	Business Conducted	  	 	48	  
	7.18	    	Liens	  	 	48	  
	7.19	    	Sale and Leaseback Transactions	  	 	51	  
	7.20	    	New Subsidiaries	  	 	51	  
	7.21	    	Fiscal Year	  	 	51	  
	7.22	    	Transactions Affecting Collateral or Obligations	  	 	51	  
	7.23	    	Fixed Charge Coverage Ratio	  	 	51	  
	7.24	    	[Intentionally Omitted]	  	 	51	  
	7.25	    	Use of Proceeds	  	 	51	  
	7.26	    	Amendments to Agreements	  	 	52	  
	7.27	    	[Intentionally Omitted]	  	 	52	  
	7.28	    	Bank Accounts	  	 	52	  
	7.29	    	Post-Closing Obligations	  	 	52	  
	7.30	    	Further Assurances	  	 	52	  
		
	ARTICLE 8 CONDITIONS OF LENDING	  	 	54	  
			
	8.1  	    	Conditions Precedent to Making of Loans on the Closing Date	  	 	54	  
	8.2  	    	Conditions Precedent to Each Loan	  	 	56	  
		
	ARTICLE 9 DEFAULT; REMEDIES	  	 	57	  
			
	9.1  	    	Events of Default	  	 	57	  
	9.2  	    	Remedies	  	 	60	  
		
	ARTICLE 10 TERM AND TERMINATION	  	 	61	  
			
	10.1	    	Term and Termination	  	 	61	  
		
	ARTICLE 11 AMENDMENTS; WAIVERs; PARTICIPATIONS; ASSIGNMENTS; SUCCESSORS	  	 	61	  
			
	11.1	    	Amendments and Waivers	  	 	61	  
	11.2	    	Assignments; Participations	  	 	63	  
		
	ARTICLE 12 THE AGENT	  	 	65	  
			
	12.1	    	Appointment and Authorization	  	 	65	  
	12.2	    	Delegation of Duties	  	 	66	  
	12.3	    	Liability of Agent	  	 	66	  
	12.4	    	Reliance by Agent	  	 	66	  

  
 iii

							
	12.5  	    	Notice of Default	  	67	 
	12.6  	    	Credit Decision	  	 	67	  
	12.7  	    	Indemnification	  	 	67	  
	12.8  	    	Agent in Individual Capacity	  	 	68	  
	12.9  	    	Successor Agent	  	 	68	  
	12.10	    	Withholding Tax	  	 	68	  
	12.11	    	Collateral Matters	  	 	70	  
	12.12	    	Restrictions on Actions by Lenders; Sharing of Payments	  	 	71	  
	12.13	    	Agency for Perfection	  	 	72	  
	12.14	    	Payments by Agent to Lenders	  	 	72	  
	12.15	    	Settlement	  	 	72	  
	12.16	    	Letters of Credit; Intra-Lender Issues	  	 	77	  
	12.17	    	Concerning the Collateral and the Related Loan Documents	  	 	79	  
	12.18	    	Field Audit and Examination Reports; Disclaimer by Lenders	  	 	79	  
	12.19	    	Relation Among Lenders	  	 	80	  
		
	ARTICLE 13 MISCELLANEOUS	  	 	80	  
			
	13.1  	    	No Waivers; Cumulative Remedies	  	 	80	  
	13.2  	    	Severability	  	 	81	  
	13.3  	    	Governing Law; Choice of Forum; Service of Process	  	 	81	  
	13.4  	    	WAIVER OF JURY TRIAL	  	 	82	  
	13.5  	    	Survival of Representations and Warranties	  	 	82	  
	13.6  	    	Other Security and Guaranties	  	 	82	  
	13.7  	    	Fees and Expenses	  	 	82	  
	13.8  	    	Notices	  	 	83	  
	13.9  	    	Waiver of Notices	  	 	84	  
	13.10	    	Binding Effect	  	 	84	  
	13.11	    	Indemnity of the Agent and the Lenders by the Borrowers	  	 	84	  
	13.12	    	Limitation of Liability	  	 	85	  
	13.13	    	Final Agreement	  	 	86	  
	13.14	    	Counterparts	  	 	86	  
	13.15	    	Captions	  	 	86	  
	13.16	    	Right of Setoff	  	 	86	  
	13.17	    	Confidentiality	  	 	86	  
	13.18	    	Conflicts with Other Loan Documents	  	 	88	  
	13.19	    	Patriot Act Notice	  	 	88	  
		
	ARTICLE 14 the borrower representative	  	 	88	  
			
	14.1  	    	Appointment; Nature of Relationship	  	 	88	  
	14.2  	    	Powers	  	 	88	  
	14.3  	    	Employment of Agents	  	 	88	  
	14.4  	    	Notices	  	 	88	  
	14.5  	    	Execution of Borrowing Base Certificate and Compliance Certificate	  	 	89	  
	14.6  	    	Reporting	  	 	89	  

  
 iv 

							
	ARTICLE 15 Cross-Guaranty	  	89	 
			
	15.1  	    	Guaranty	  	 	89	  
	15.2  	    	Guaranty of Payment	  	 	89	  
	15.3  	    	No Discharge or Diminishment of Cross-Guaranty	  	 	89	  
	15.4  	    	Defenses Waived	  	 	90	  
	15.5  	    	Rights of Subrogation	  	 	91	  
	15.6  	    	Reinstatement; Stay of Acceleration	  	 	91	  
	15.7  	    	Information	  	 	91	  
	15.8  	    	Maximum Liability	  	 	91	  
	15.9  	    	Contribution	  	 	92	  
	15.10	    	Liability Cumulative	  	 	92	  
		
	ARTICLE 16 AMENDMENT AND RESTATEMENT	  	 	92	  
			
	16.1  	    	Interrelationship with the Prior Credit Agreement	  	 	92	  

  
 v 

					
	ANNEXES, EXHIBITS AND SCHEDULES
			
	ANNEX A	  	-	    	DEFINED TERMS
			
	EXHIBIT A-1	  	-	    	FORM OF SECOND AMENDED AND RESTATED REVOLVING LOAN NOTE
			
	EXHIBIT A-2	  	-	    	FORM OF SECOND AMENDED AND RESTATED SWING LINE NOTE
			
	EXHIBIT B	  	-	    	FORM OF BORROWING BASE CERTIFICATE
			
	EXHIBIT C	  	-	    	FORM OF NOTICE OF BORROWING
			
	EXHIBIT D	  	-	    	FORM OF NOTICE OF CONTINUATION/CONVERSION
			
	EXHIBIT E	  	-	    	FORM OF ASSIGNMENT AND ACCEPTANCE AGREEMENT
			
	EXHIBIT F	  	-	    	FORM OF INTERCOMPANY NOTE

  

	
	
	SCHEDULE 1.2 – LENDERS’ COMMITMENTS (ANNEX A – DEFINED TERMS)
	
	SCHEDULE 6.3 – ORGANIZATION AND QUALIFICATIONS
	
	SCHEDULE 6.5 – SUBSIDIARIES AND AFFILIATES
	
	SCHEDULE 6.9 – DEBT
	
	SCHEDULE 6.11 – REAL ESTATE; LEASES; LIENS
	
	SCHEDULE 6.12 – PROPRIETARY RIGHTS
	
	SCHEDULE 6.13 – TRADE NAMES
	
	SCHEDULE 6.14 – LITIGATION
	
	SCHEDULE 6.15 – LABOR DISPUTES
	
	SCHEDULE 6.16 – ENVIRONMENTAL LAW
	
	SCHEDULE 6.19 – ERISA COMPLIANCE
	
	SCHEDULE 6.26 – MATERIAL AGREEMENTS
	
	SCHEDULE 6.27 – BANK ACCOUNTS
	
	SCHEDULE 6.29 – INSURANCE

  
 vi 

	
	SCHEDULE 6.30 – INACTIVE SUBSIDIARIES
	
	SCHEDULE 7 – REORGANIZATION TRANSACTIONS
	
	SCHEDULE 7.9 – EXISTING INVENTORY ACCOUNTS RECEIVABLE
	
	SCHEDULE 7.11 – RESTRICTED INVESTMENTS

  
 vii

 SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

This Second Amended and Restated Credit Agreement, dated as of December 9, 2010 (this “Agreement”)
among the financial institutions from time to time parties hereto (such financial institutions, together with their respective successors and assigns, are referred to hereinafter each individually as a “Lender” and collectively as
the “Lenders”), JPMorgan Chase Bank, N.A. having its principal office at 120 S. LaSalle Street, 8th Floor, Chicago, IL 60603, as agent for the Lenders (in its capacity as agent, the “Agent”), Eliokem, Inc., a
Delaware corporation, with offices at 1380 Tech Way Drive, Akron, Ohio 44306 (“Eliokem”), and OMNOVA Solutions Inc., an Ohio corporation, with offices at 175 Ghent Road, Fairlawn, Ohio 44333 (“Omnova” and together
with Eliokem, the “Borrowers” and each a “Borrower”). 
 W I T N
E S S E T H: 
 WHEREAS, pursuant to that certain Credit Agreement
dated as of May 28, 2003 (the “Original Credit Agreement”), lenders party to the Original Credit Agreement extended a revolving line of credit for loans and letters of credit in an amount not to exceed $100,000,000 subject to
increases in accordance with Section 1.2(j); 
 WHEREAS, pursuant to that certain Amended and
Restated Credit Agreement dated as of May 22, 2007 (as amended or otherwise modified from time to time prior to the date hereof, the “Prior Credit Agreement”), which amended and restated and superseded and replaced the Original
Credit Agreement in its entirety, lenders party to the Prior Credit Agreement extended a revolving line of credit for loans and letters of credit in an amount not to exceed $80,000,000; 

WHEREAS, the Borrowers have requested the Lenders to (i) make available to the Borrowers a revolving line of credit
for loans and letters of credit in an amount not to exceed $100,000,000, consisting of the continuation of the loans outstanding under the Prior Credit Agreement, which extensions of credit the Borrowers will use for the purposes permitted hereunder
and (ii) amend and restate the provisions of the Prior Credit Agreement as set forth herein; 
 WHEREAS,
capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings ascribed thereto in Annex A which is attached hereto and incorporated herein; the rules of construction contained therein shall govern the
interpretation of this Agreement, and all Annexes, Exhibits and Schedules attached hereto are incorporated herein by reference; 
 WHEREAS, the Lenders have agreed to (i) make available to the Borrowers a revolving credit facility upon the terms and conditions set forth in this Agreement and (ii) amend and restated the
Prior Credit Agreement as set forth herein. 
 NOW, THEREFORE, in consideration of the mutual conditions and
agreements set forth in this Agreement, and for good and valuable consideration, the receipt of which is hereby acknowledged, the Lenders, the Agent, and the Borrowers hereby agree to amend and restate the Prior Credit Agreement as set forth herein.

 ARTICLE 1 
 LOANS AND LETTERS OF CREDIT 
 1.1
      Total Facility. Subject to all of the terms and conditions of this Agreement, the Lenders agree to make available a total credit facility of up to $100,000,000 (the “Total Facility”) to the
Borrowers from time to time during the term of this Agreement. The Total Facility shall be composed of a revolving line of credit consisting of Revolving Loans and Letters of Credit described herein. 

1.2       Revolving Loans. 

(a)     (i)      Amounts. Subject to the
satisfaction of the conditions precedent set forth in Article 8, each Lender severally, but not jointly, agrees, upon the Borrower Representative’s request from time to time on any Business Day during the period from the Closing Date to
the Termination Date, to make revolving loans, including, without duplication, Swing Line Loans (the “Revolving Loans”) to the Borrowers in amounts not to exceed such Lender’s Pro Rata Share of Availability, except for Agent
Advances. The Lenders, however, in their unanimous discretion, may elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Borrowing Base on one or more occasions, but if they do so, neither the Agent nor
the Lenders shall be deemed thereby to have changed the limits of the Borrowing Base or to be obligated to exceed such limits on any other occasion. If any Borrowing would exceed Availability, the Lenders may refuse to make or may otherwise restrict
the making of Revolving Loans as the Lenders determine until such excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of Section 1.2(i). 

(ii)       The Revolving Loans of each Lender shall be evidenced by this Agreement. At the
request of any Lender, Borrowers shall execute and deliver to such Lender a note to further evidence the Revolving Loan of that Lender. Each note shall be in the principal amount of the Lender’s Pro Rata Share of the Commitments, dated the date
hereof and substantially in the form of Exhibit A-1 (each a “Revolving Loan Note” and, collectively, the “Revolving Loan Notes”). Each Revolving Loan Note shall represent the obligation of Borrowers to pay
the amount of Lender’s Pro Rata Share of the Commitments, or, if less, such Lender’s Pro Rata Share of the aggregate unpaid principal amount of all Revolving Loans to Borrowers together with interest thereon as prescribed in
Section 1.2. The entire unpaid balance of the Revolving Loan and all other non-contingent Obligations shall be immediately due and payable in full in immediately available funds on the Termination Date. 

(b)       Procedure for Borrowing. 

(1)      Each Borrowing shall be made upon the Borrower Representative’s irrevocable
written notice delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”), which must be received by the Agent prior to (i) 12:00 noon (Chicago time) three Business Days prior to the requested Funding
Date, in the case of 

  
 2 

 
Eurodollar Revolving Loans and (ii) 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of CBFR Revolving Loans, specifying: 

(A)       the amount of the Borrowing of a Eurodollar Revolving Loan must equal or
exceed $5,000,000 (and increments of $1,000,000 in excess of such amount); 

(B)       the requested Funding Date, which must be a Business Day; 

(C)       whether the Revolving Loans requested are to be CBFR Revolving Loans or
Eurodollar Revolving Loans (and if not specified, it shall be deemed a request for a CBFR Revolving Loan); and 

(D)       the duration of the Interest Period for Eurodollar Revolving Loans (and if
not specified, it shall be deemed a request for an Interest Period of one month); 
 provided, however, that with respect to the Borrowing to be
made on the Closing Date, such Borrowings will consist of CBFR Revolving Loans only. 

(2)       In lieu of delivering a Notice of Borrowing, the Borrower Representative
may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all times shall be entitled to rely on such telephonic notice in making such Revolving Loans,
regardless of whether any written confirmation is received. 
 (3)       The
Borrower Representative shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing. 

(c)       Reliance upon Authority. Prior to the Closing Date,
the Borrower Representative shall deliver to the Agent, a notice setting forth the account of the Borrower Representative (“Designated Account”) to which the Agent is authorized to transfer the proceeds of the Revolving Loans
requested hereunder. The Borrower Representative may designate a replacement account from time to time by written notice. All such Designated Accounts must be reasonably satisfactory to the Agent. The Agent is entitled to rely conclusively on any
person’s request for Revolving Loans on behalf of the Borrower Representative, so long as the proceeds thereof are to be transferred to the Designated Account. The Agent has no duty to verify the identity of any individual representing himself
or herself as a person authorized by the Borrower Representative to make such requests on its behalf. 
 (d)       No Liability. The Agent shall not incur any liability to the Borrowers as a result of acting upon any notice referred to in Sections 1.2(b) and
(c), which the Agent believes in good faith to have been given by an officer or other person duly authorized by the Borrower Representative to request Revolving Loans on its behalf. The crediting of Revolving Loans to the Designated Account
conclusively establishes the joint and several obligation of the Borrowers to repay such Revolving Loans as provided herein. 

  
 3 

 (e)       Notice
Irrevocable. Any Notice of Borrowing (or telephonic notice in lieu thereof) made pursuant to Section 1.2(b) shall be irrevocable. The Borrowers shall be bound to borrow the funds requested therein in accordance therewith. 

(f)       Agent’s Election. Promptly after receipt of a
Notice of Borrowing (or telephonic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) apply to such requested Borrowing. If the Bank declines in its sole
discretion to make a Swing Line Loan pursuant to Section 1.2(h), the terms of Section 1.2(g) shall apply to the requested Borrowing. 

(g)       Making of Revolving Loans. If Agent elects to have
the terms of this Section 1.2(g) apply to a requested Borrowing, then promptly after receipt of a Notice of Borrowing or telephonic notice in lieu thereof, the Agent shall notify the Lenders by telecopy, telephone or e-mail of the
requested Borrowing. Each Lender shall transfer its Pro Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by Agent, not later than 12:00 noon (Chicago time) on
the applicable Funding Date. After the Agent’s receipt of all proceeds of such Revolving Loans, the Agent shall make the proceeds of such Revolving Loans available to the Borrowers on the applicable Funding Date by transferring same day funds
to the account designated by the Borrower Representative; provided, however, that the amount of Revolving Loans so made on any date shall not exceed the Availability on such date. 

(h)       Making of Swing Line Loans. 

  (A)      If Agent elects, with the consent of the Bank, to have the terms of
this Section 1.2(h) apply to a requested Borrowing, the Bank shall make a Revolving Loan in the amount of that Borrowing available to the Borrowers on the applicable Funding Date by transferring same day funds to Borrowers’
Designated Account. Each Revolving Loan made solely by the Bank pursuant to this Section is herein referred to as a “Swing Line Loan,” and such Revolving Loans are collectively referred to as the “Swing Line Loans.”
Each Swing Line Loan shall be subject to all the terms and conditions applicable to other Revolving Loans except that all payments thereon shall be payable to the Bank solely for its own account. The aggregate amount of Swing Line Loans outstanding
at any time shall not exceed $10,000,000 (the “Swing Line Commitment”). The Agent shall not request the Bank to make any Swing Line Loan if (1) the Agent has received written notice from any Lender that one or more of the
applicable conditions precedent set forth in Article 8 will not be satisfied on the requested Funding Date for the applicable Borrowing, or (2) the requested Borrowing would exceed Availability on that Funding Date. 

  (B)       The Swing Line Loans shall be secured by the Agent’s Liens
in and to the Collateral and shall constitute CBFR Revolving Loans and Obligations hereunder. 

  (C)       Borrowers shall execute and deliver to the Bank a promissory
note to evidence the Swing Line Commitment. Such note shall be in the principal amount of the 

  
 4 

 
Swing Line Commitment of the Bank, dated the Closing Date and substantially in the form of Exhibit A-2 (the “Swing Line Note”). The Swing Line Note shall represent the
joint and several obligation of Borrowers to pay the amount of the Swing Line Commitment or, if less, the aggregate unpaid principal amount of all Swing Line Loans made to Borrowers together with interest thereon as prescribed in
Section 2.1. 
 (i)       Agent Advances. 

(A)       Subject to the limitations set forth below, the Agent is authorized by the
Borrowers and the Lenders, from time to time in the Agent’s sole discretion, (A) after the occurrence of a Default or an Event of Default, or (B) at any time that any of the other conditions precedent set forth in Article 8
have not been satisfied, to make CBFR Revolving Loans to the Borrowers on behalf of the Lenders in an aggregate amount outstanding at any time not to exceed $5,000,000 (but not to exceed the Maximum Revolver Amount) which the Agent, in its
reasonable business judgment, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations, or
(3) to pay any other amount chargeable to the Borrowers pursuant to the terms of this Agreement, including costs, fees and expenses as described in Section 13.7 (any of such advances are herein referred to as “Agent
Advances”); provided, that the Required Lenders may at any time revoke the Agent’s authorization to make Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Agent’s
receipt thereof. 
 (B)       The Agent Advances shall be secured by the
Agent’s Liens in and to the Collateral and shall constitute CBFR Revolving Loans and Obligations hereunder. 
 (j)       Increased Commitments. 
 (A)       So long as (x) no Default or Event of Default shall have occurred and then be continuing and (y) Agent has received an amendment to the Intercreditor
Agreement and Term Loan Agreement increasing the aggregate dollar commitments permitted hereunder by the amount of the Additional Commitment (defined below) in form and substance satisfactory to Agent, then at any time prior to the Termination Date
on one or more occasions up to a maximum of three occasions, Borrowers may propose to increase the Total Facility by $10,000,000 or an integral multiple thereof, but in an aggregate amount not to exceed $50,000,000, in accordance with and pursuant
to this Section 1.2(j). 
 (B)       Such proposal (an
“Increased Commitment Proposal”) may be delivered by Borrower Representative to Agent and Lenders and, subject to paragraph (C) below, to Eligible Assignees approved by Borrowers, in each case, with the prior written consent of
Agent, and shall set forth the amount of proposed increase of the Commitments (the “Additional Commitment”). 
 (C)       The Increased Commitment Proposal shall be offered on a first priority basis to Lenders, who may accept, but are not obligated to accept, based on their
respective “Pro Rata Shares” of the Commitments. If the total amount of the Additional Commitment is not accepted by Lenders based on their respective Pro Rata Shares, then Lenders 

  
 5 

 
may accept, but are not obligated to accept, the remaining portions of the Additional Commitment on a non-pro rata basis. To the extent that Lenders do not accept any portion of the Additional
Commitment, the Increased Commitment Proposal may be offered to Eligible Assignees approved by Agent. Agent shall have discretion to adjust the allocation of the Additional Commitment between and among Lenders that accept the Increased Commitment
Proposal and Eligible Assignees that accept the Increased Commitment Proposal. 

(D)       Borrowers, the Lenders accepting such Increased Commitment Proposal and the
Eligible Assignees accepting such Increased Commitment Proposal shall have entered into an agreement (an “Increased Commitment Agreement”) in form and substance reasonably satisfactory to Agent pursuant to which, among other things,
(1) Lenders and Eligible Assignees party thereto shall have accepted the Increased Commitment Proposal, (2) the Eligible Assignees shall have agreed to be bound by this Agreement and shall have made the representations and warranties
required of an assignee of Loans and Commitments under Section 11.2, (3) the terms of the Increased Commitment Proposal and the terms required by this Section 1.2(j) shall have been incorporated into this Agreement
(which incorporation shall constitute an amendment of this Agreement and shall not require the consent of Required Lenders (so long as such Increased Commitment Agreement is limited to implementing the Increased Commitment Proposal and provisions
reasonably related thereto as reasonably determined by Agent), (4) the Borrowers shall have consented to the terms of the Increased Commitment Agreement, and (5) Borrowers shall have issued to each Lender that requests the same a new
Revolving Note in an amount equal to the Commitment of such Lender (after giving effect to the increase of such Lender’s Commitment). 
 (E)       On the effective date of any increase in the Commitments under this Section 1.2(j), (i) (x) all necessary Revolving Loans shall be made
under the Additional Commitment and (y) a portion of those increased fundings shall be applied to the Revolving Loan held by Lenders whose percentage share of the outstanding Revolving Loan exceeds their respective Pro Rata Shares of the
Commitment (after giving effect to such increase in the Commitment), in each case, so that the percentage share of the outstanding Revolving Loan held by each Lender equals its Pro Rata Share of the Commitment, and (ii) the percentage interest
of each Lender in each participation in each undrawn Letter of Credit (whether then outstanding or thereafter issued) shall equal its percentage interest in the Commitment (after giving effect to such increase in the Commitment). From and after that
date, each Revolving Loan shall be made in accordance with the Commitments after giving effect to such increase in the Commitment, and each repayment of a Revolving Loan shall be applied in accordance with the Commitments after giving effect to such
increase in the Commitments. 
 (F)       All Revolving Loans made pursuant
to the Additional Commitment shall constitute Revolving Loans, shall constitute Obligations, shall be secured pari passu by the Collateral and shall be repaid in accordance with the terms of this Agreement. 

1.3        Letters of Credit. 

(a)       Agreement to Issue or Cause To Issue. Subject to the
terms and conditions of this Agreement, the Agent agrees (i) to cause the Letter of Credit Issuer to issue for the account of the Borrowers one or more 

  
 6 

 
commercial/documentary and standby letters of credit (“Letter of Credit”) and/or (ii) to provide credit support or other enhancement to a Letter of Credit Issuer acceptable
to Agent, which issues a Letter of Credit for the account of the Borrowers (any such credit support or enhancement being herein referred to as a “Credit Support”) from time to time during the term of this Agreement. 

(b)       Amounts; Outside Expiration Date. The Agent shall
not have any obligation to issue or cause to be issued any Letter of Credit or to provide Credit Support for any Letter of Credit at any time if: (i) the maximum face amount of the requested Letter of Credit is greater than the Unused Letter of
Credit Subfacility at such time; (ii) the maximum undrawn amount of the requested Letter of Credit and all commissions, fees, and charges due from the Borrowers in connection with the opening thereof would exceed Availability at such time; or
(iii) such Letter of Credit has an expiration date less than five (5) days prior to the Stated Termination Date or more than 12 months from the date of issuance (provided that any Letter of Credit with a 12-month tenor may provide for the
renewal thereof for additional 12-month periods, which shall in no event extend beyond five (5) days prior to the Stated Termination Date). With respect to any Letter of Credit which contains any “evergreen” or automatic renewal
provision, each Lender shall be deemed to have consented to any such extension or renewal unless any such Lender shall have provided to the Agent, written notice that it declines to consent to any such extension or renewal at least thirty
(30) days prior to the date on which the Letter of Credit Issuer is entitled to decline to extend or renew the Letter of Credit. If all of the requirements of this Section 1.3 are met and no Default or Event of Default has occurred
and is continuing, no Lender shall decline to consent to any such extension or renewal. 

(c)       Other Conditions. In addition to conditions
precedent contained in Article 8, the obligation of the Agent to issue or to cause to be issued any Letter of Credit or to provide Credit Support for any Letter of Credit is subject to the following conditions precedent having been satisfied
in a manner reasonably satisfactory to the Agent: 
 (1)       The Borrower
Representative shall have delivered to the Letter of Credit Issuer, at such times and in such manner as such Letter of Credit Issuer may prescribe, an application in form and substance satisfactory to such Letter of Credit Issuer and reasonably
satisfactory to the Agent for the issuance of the Letter of Credit and such other documents as may be required pursuant to the terms thereof, and the form, terms and purpose of the proposed Letter of Credit shall be reasonably satisfactory to the
Agent and the Letter of Credit Issuer; and 
 (2)       As of the date of
issuance, no order of any court, arbitrator or Governmental Authority shall purport by its terms to enjoin or restrain money center banks generally from issuing letters of credit of the type and in the amount of the proposed Letter of Credit, and no
law, rule or regulation applicable to money center banks generally and no request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over money center banks generally shall prohibit, or request
that the proposed Letter 

  
 7 

 
of Credit Issuer refrain from, the issuance of letters of credit generally or the issuance of such Letters of Credit. 

(d)       Issuance of Letters of Credit. 

(1)       Request for Issuance. Borrower Representative must notify the Agent
of a requested Letter of Credit at least three (3) Business Days prior to the proposed issuance date. Such notice shall be irrevocable and must specify the original face amount of the Letter of Credit requested, the Business Day of issuance of
such requested Letter of Credit, whether such Letter of Credit may be drawn in a single or in partial draws, the Business Day on which the requested Letter of Credit is to expire, the purpose for which such Letter of Credit is to be issued, and the
beneficiary of the requested Letter of Credit. The Borrower Representative shall attach to such notice the proposed form of the Letter of Credit. 
 (2)       Responsibilities of the Agent; Issuance. As of the Business Day of the requested issuance date of the Letter of Credit, the Agent shall determine the
amount of the applicable Unused Letter of Credit Subfacility and Availability. If (i) the face amount of the requested Letter of Credit is less than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of
Credit and all commissions, fees, and charges due from the Borrowers in connection with the opening thereof would not exceed Availability, the Agent shall cause the Letter of Credit Issuer to issue the requested Letter of Credit on the requested
issuance date so long as the other conditions hereof are met. 

(3)       No Extensions or Amendment. The Agent shall not be obligated to
cause the Letter of Credit Issuer to extend or amend any Letter of Credit issued pursuant hereto unless the requirements of this Section 1.3 are met as though a new Letter of Credit were being requested and issued. 

(e)       Payments Pursuant to Letters of Credit. The
Borrowers agree to reimburse immediately the Letter of Credit Issuer for any draw under any Letter of Credit and the Agent for the account of the Lenders upon any payment pursuant to any Credit Support, and to pay the Letter of Credit Issuer the
amount of all other charges and fees payable to the Letter of Credit Issuer in connection with any Letter of Credit immediately when due, irrespective of any claim, setoff, defense or other right which the Borrowers may have at any time against the
Letter of Credit Issuer or any other Person. Each drawing under any Letter of Credit shall constitute a request by the Borrowers to the Agent for a Borrowing of a CBFR Revolving Loan in the amount of such drawing. The Funding Date with respect to
such borrowing shall be the date of such drawing. 

(f)       Indemnification; Exoneration; Power of Attorney.

 (1)      Indemnification. In addition to amounts payable as elsewhere
provided in this Section 1.3, the Borrowers agree, jointly and severally, to protect, indemnify, pay and save the Lenders and the Agent harmless from and against any and all claims, demands, liabilities, damages, losses, costs, charges
and expenses (including reasonable attorneys’ fees) which any Lender or the Agent (other than a Lender in its capacity as Letter of 

  
 8 

 
Credit Issuer) may incur or be subject to (excluding such claims, demands, liabilities, damages, losses, costs, charges and expenses arising solely from disputes between or among Agent and/or
Lenders) as a consequence, direct or indirect, of the issuance of any Letter of Credit or the provision of any Credit Support or enhancement in connection therewith. The Borrowers’ joint and several obligations under this Section shall survive
payment of all other Obligations. 
 (2)      Assumption of Risk by the
Borrower. As among the Borrowers, the Lenders, and the Agent, the Borrowers assume all risks of the acts and omissions of, or misuse of any of the Letters of Credit by, the respective beneficiaries of such Letters of Credit. In furtherance and
not in limitation of the foregoing, the Lenders and the Agent shall not be responsible for: (A) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any Person in connection with the application
for and issuance of and presentation of drafts with respect to any of the Letters of Credit, even if it should prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (B) the validity or sufficiency of any
instrument transferring or assigning or purporting to transfer or assign any Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason; (C) the
failure of the beneficiary of any Letter of Credit to comply duly with conditions required in order to draw upon such Letter of Credit; (D) errors, omissions, interruptions, or delays in transmission or delivery of any messages, by mail, cable,
telegraph, telex or otherwise, whether or not they be in cipher; (E) errors in interpretation of technical terms; (F) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any Letter
of Credit or of the proceeds thereof; (G) the misapplication by the beneficiary of any Letter of Credit of the proceeds of any drawing under such Letter of Credit; (H) any consequences arising from causes beyond the control of the Lenders
or the Agent, including any act or omission, whether rightful or wrongful, of any present or future de jure or de facto Governmental Authority or (I) the Letter of Credit Issuer’s honor of a draw for which the
draw or any certificate fails to comply in any respect with the terms of the Letter of Credit. None of the foregoing shall affect, impair or prevent the vesting of any rights or powers of the Agent or any Lender under this
Section 1.3(f). 
 (3)      Exoneration.  Without
limiting the foregoing, no action or omission whatsoever by Agent or any Lender (excluding any Lender in its capacity as a Letter of Credit Issuer and excluding any such liability resulting from the gross negligence or willful misconduct of the
party seeking exoneration hereunder) shall result in any liability of Agent or any Lender to the Borrowers, or relieve the Borrowers of any of their obligations hereunder to any such Person. 

(4)      Rights Against Letter of Credit Issuer.  Nothing contained in
this Agreement is intended to limit the Borrowers’ rights, if any, with respect to the Letter of Credit Issuer which arise as a result of the letter of credit application and related documents executed by and between the Borrower Representative
and the Letter of Credit Issuer. 
 (5)      Account Party.  The
Borrowers hereby authorize and direct any Letter of Credit Issuer to name the Borrower Representative as the “Account Party” therein and to deliver to the Agent all instruments, documents and other writings and property received by the
Letter of Credit Issuer pursuant to the Letter of Credit, and to accept and rely upon the 

  
 9 

 
Agent’s instructions and agreements with respect to all matters arising in connection with the Letter of Credit or the application therefor. 

(g)      Supporting Letter of Credit; Cash Collateral. If,
notwithstanding the provisions of Section 1.3(b) and Section 10.1, any Letter of Credit or Credit Support is outstanding upon the termination of this Agreement, then upon such termination the Borrowers shall deposit with the
Agent, for the ratable benefit of the Agent and the Lenders, with respect to each Letter of Credit or Credit Support then outstanding, cash collateral in an amount equal to 110% of the greatest amount for which such Letter of Credit or such Credit
Support may be drawn plus any fees and expenses associated with such Letter of Credit or such Credit Support. Such cash collateral shall be held by the Agent, for the ratable benefit of the Agent and the Lenders, as security for, and to provide for
the payment of, the aggregate undrawn amount of such Letters of Credit or such Credit Support remaining outstanding. 
 1.4      Bank Products. The Borrowers may request of any Lender to, and such Lender may in its sole and absolute discretion, arrange for the Borrowers to obtain from
such Lender or such Lender’s Affiliates Bank Products although the Borrowers are not required to do so. If Bank Products are provided by an Affiliate of a Lender, the Borrowers agree to reimburse such Lenders for any and all costs and
obligations now or hereafter incurred by such Lender which arise from any indemnity given by such Lender to its Affiliates related to such Bank Products; provided, however, nothing contained herein is intended to limit the
Borrowers’ rights, with respect to such Lender or its Affiliates, if any, which arise as a result of the execution of documents by and between the Borrowers and such Lender (or its Affiliates) which relate to Bank Products. The agreement
contained in this Section shall survive termination of this Agreement. The Borrowers acknowledge and agree that the obtaining of Bank Products from any Lender or such Lender’s Affiliates (a) is in the sole and absolute discretion of such
Lender or such Lender’s Affiliates, and (b) is subject to all rules and regulations of such Lender or such Lender’s Affiliates. Each Lender agrees to provide the Agent with prior or simultaneous written notice (pursuant to electronic
mail or other written form) of any Bank Product proposed to be provided to Borrowers including prior or simultaneous written notice (pursuant to electronic mail or other written form) of any increase in potential exposure or liabilities to existing
Bank Products. 
 ARTICLE 2 
 INTEREST AND FEES 

2.1       Interest. 

(a)      Interest Rates. All outstanding Obligations shall bear interest on the
unpaid principal amount thereof (including, to the extent permitted by law, on interest thereon not paid when due) from the date made until paid in full in cash at a rate determined by reference to the CB Floating Rate or the Adjusted Eurodollar
Rate plus the Applicable Margins as set forth below, but not to exceed the Maximum Rate. If at any time Loans are outstanding with respect to which the Borrower Representative has not delivered to the Agent a notice specifying the basis for
determining the interest rate applicable thereto in accordance herewith, 

  
 10 

 
those Loans shall bear interest at a rate determined by reference to the CB Floating Rate until notice to the contrary has been given to the Agent in accordance with this Agreement and such
notice has become effective. Except as otherwise provided herein, the outstanding Obligations shall bear interest as follows: 
 (i)      For all CBFR Revolving Loans and other Obligations (other than Eurodollar Revolving Loans) at a fluctuating per annum rate equal to the CB Floating Rate plus
the Applicable Margin; and 
 (ii)     For all Eurodollar Revolving
Loans at a per annum rate equal to the Adjusted Eurodollar Rate plus the Applicable Margin. 
 Each change in the CB
Floating Rate shall be reflected in the interest rate applicable to CBFR Revolving Loans as of the effective date of such change. All interest charges shall be computed on the basis of a year of 360 days and actual days elapsed (which results in
more interest being paid than if computed on the basis of a 365-day year). The Borrowers shall pay to the Agent, for the ratable benefit of Lenders, interest accrued on all CBFR Revolving Loans in arrears on the first day of each month hereafter, on
the date of any repayment of any portion of such Loans and on the Termination Date. The Borrowers shall pay to the Agent, for the ratable benefit of Lenders, interest on all Eurodollar Revolving Loans in arrears on each Eurodollar Interest Payment
Date, on the date of any repayment of any portion of such Loans and on the Termination Date. 

(b)      Default Rate. If any Default or Event of Default occurs and is continuing
and the Agent or the Required Lenders in their discretion so elect, then, while any such Default or Event of Default is continuing, all of the Obligations shall bear interest at the Default Rate applicable thereto. 

2.2      Continuation and Conversion Elections. 

(a)      The Borrowers may: 

(i)      elect, as of any Business Day, in the case of CBFR Revolving
Loans (other than Swing Line Loans) to convert any CBFR Revolving Loan (or any part thereof in an amount not less than $5,000,000 or that is in an integral multiple of $1,000,000 in excess thereof) into Eurodollar Revolving Loans; or 

(ii)      elect, as of the last day of the applicable Interest Period, to
continue any Eurodollar Revolving Loan having Interest Periods expiring on such day (or any part thereof in an amount not less than $5,000,000, or that is in an integral multiple of $1,000,000 in excess thereof); 

provided, that if at any time the aggregate amount of Eurodollar Revolving Loans in respect of any Borrowing is reduced, by
payment, prepayment, or conversion of part thereof to be less than $5,000,000, such Eurodollar Revolving Loans shall automatically convert into CBFR Revolving Loans; provided further that if the notice shall fail to specify the
duration of the Interest Period, such Interest Period shall be one month. 

  
 11 

 (b)      The Borrower
Representative shall deliver a notice of continuation/conversion (“Notice of Continuation/Conversion”) to the Agent not later than 12:00 noon (Chicago time) at least three (3) Business Days in advance of the
Continuation/Conversion Date, if the Loans are to be converted into or continued as Eurodollar Revolving Loans and specifying: 
 (i)       the proposed Continuation/Conversion Date; 
 (ii)       the aggregate amount of Loans to be converted or renewed; 

(iii)      the type of Loans resulting from the proposed conversion or
continuation; and 
 (iv)      the duration of the requested
Interest Period, provided, however, the Borrowers may not select an Interest Period that ends after the Stated Termination Date. 
 (c)       If upon the expiration of any Interest Period applicable to Eurodollar Revolving Loans, the Borrowers have failed to select timely a new Interest Period to be
applicable to Eurodollar Revolving Loans or if any Default or Event of Default then exists, the Borrowers shall be deemed to have elected to convert such Eurodollar Revolving Loans into CBFR Revolving Loans effective as of the expiration date of
such Interest Period. 
 (d)       The Agent will promptly
notify each Lender of its receipt of a Notice of Continuation/Conversion. All conversions and continuations shall be made ratably according to the respective outstanding principal amounts of the Loans with respect to which the notice was given held
by each Lender. 
 (e)       There may not be more than five
(5) different Eurodollar Revolving Loans in effect hereunder at any time. 

2.3       Maximum Interest Rate. In no event shall any interest rate provided
for hereunder exceed the maximum rate legally chargeable by any Lender under applicable law for such Lender with respect to loans of the type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent
such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain
at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited by the Maximum Rate. In the event that, upon payment in full of the Obligations,
the total amount of interest paid or accrued under the terms of this Agreement is less than the total amount of interest which would, but for this Section 2.3, have been paid or accrued if the interest rate otherwise set forth in this
Agreement had at all times been in effect, then the Borrowers shall, to the extent permitted by applicable law, pay the Agent, for the account of the Lenders, an amount equal to the excess of (a) the lesser of (i) the amount of interest
which would have been charged if the Maximum Rate had, at all times, been in effect or (ii) the amount of interest which would have accrued had the interest rate otherwise set forth in this Agreement, at all times, been in effect over
(b) the amount 

  
 12 

 
of interest actually paid or accrued under this Agreement. If a court of competent jurisdiction determines that the Agent and/or any Lender has received interest and other charges hereunder in
excess of the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, in the inverse order of maturity, and if there are no Obligations outstanding, the
Agent and/or such Lender shall refund to the Borrowers such excess. 

2.4       Fee Letter. The Borrowers agree to pay the Agent the fees set forth
in the fee letter dated September 24, 2010, among Agent, JPMorgan Securities LLC and Borrower Representative at the times set forth therein. 
 2.5       Unused Line Fee. On the first day of each Fiscal Quarter and on the Termination Date the Borrowers agree to pay to the Agent, for the account of the
Lenders, in accordance with their respective Pro Rata Shares, an unused line fee (the “Unused Line Fee”) equal to the Applicable Margin times the amount by which the Maximum Revolver Amount exceeded the sum of the average daily
outstanding amount of Revolving Loans and the average daily undrawn face amount of outstanding Letters of Credit, during the immediately prior Fiscal Quarter or shorter period if calculated for the first Fiscal Quarter ending after the Closing Date
or on the Termination Date. The Unused Line Fee shall be computed on the basis of a 360-day year for the actual number of days elapsed. All principal payments received by the Agent shall be deemed to be credited to the Borrowers’ Loan Account
immediately upon receipt of good funds for purposes of calculating the Unused Line Fee pursuant to this Section 2.5. 
 2.6       Letter of Credit Fee. The Borrowers agree to pay to the Agent, for the account of the Lenders, in accordance with their respective Pro Rata Shares, for
each Letter of Credit, a fee (the “Letter of Credit Fee”) equal to the Applicable Margin per annum times the face amount of such Letter of Credit and to Agent for the benefit of the Letter of Credit Issuer a fronting fee of
one-quarter of one percent (0.25%) per annum of the undrawn face amount of each Letter of Credit, and to the Letter of Credit Issuer, all out-of-pocket costs, fees and expenses incurred by the Letter of Credit Issuer in connection with the
application for, processing of, negotiation of, issuance of, or amendment to any Letter of Credit. The Letter of Credit Fee shall be payable quarterly in arrears on the first day of each Fiscal Quarter following any Fiscal Quarter in which a Letter
of Credit is outstanding and on the Termination Date. The Letter of Credit Fee shall be computed on the basis of a 360-day year for the actual number of days elapsed. 
 ARTICLE 3 
 PAYMENTS AND PREPAYMENTS 

3.1       Revolving Loans. The Borrowers shall repay the outstanding principal
balance of the Revolving Loans and all other Obligations, plus all accrued but unpaid interest thereon, on the Termination Date. The Borrowers may prepay Revolving Loans at any time, and reborrow subject to the terms of this Agreement. In addition,
and without limiting the generality of the foregoing, upon demand the Borrowers shall pay to the Agent, for account of the Lenders, the amount, without duplication, by which the Aggregate Revolver Outstandings exceeds the lesser of the Borrowing
Base or the Maximum Revolver Amount. 

  
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 3.2       Termination of
Facility. The Borrowers may terminate this Agreement upon at least ten (10) Business Days’ notice to the Agent and the Lenders, upon (a) the payment in full of all outstanding Revolving Loans, together with accrued interest
thereon, and the cancellation and return of all outstanding Letters of Credit, (b) the payment in full in cash of all reimbursable expenses and other Obligations, and (c) with respect to any Eurodollar Revolving Loan prepaid, payment of
the amounts due under Section 4.4, if any. 

3.3       Prepayments of the Loans. 

(a)       Immediately upon receipt by Borrowers or their Subsidiaries
of proceeds of any (i) sale or other disposition of Collateral (excluding Accounts and Inventory) permitted under Section 7.9, (ii) sale of the stock of any Subsidiary of Borrowers or (iii) issuance of equity securities
(other than equity issued in connection with Borrowers’ Plans) or issuance of Debt (excluding Debt permitted under Section 7.13 and proceeds of equity or Debt issued to finance a Permitted Acquisition but only to the extent such proceeds
are received and paid to the sellers of the Target contemporaneously with the consummation of the Permitted Acquisition or contemporaneously with the date on which any other consideration is required to be paid to such sellers in connection with
such Permitted Acquisition), Borrowers shall prepay the Obligations in an amount equal to all such proceeds, net of (A) commissions and other reasonable and customary transaction costs, fees and expenses properly attributable to such
transaction and payable by Borrowers in connection therewith (in each case, paid to non-Affiliates), (B) transfer taxes, (C) amounts payable to holders of senior Liens (to the extent such Liens constitute Permitted Liens hereunder), if
any, and (D) an appropriate reserve for income taxes in accordance with GAAP in connection therewith (“Net Proceeds”); provided, that to the extent no Default or Event of Default has occurred and is continuing at the
time of or after giving effect to any sale or disposition of Collateral under clause (i) or any issuance of equity by Borrowers under clause (iii), Borrowers may use the proceeds thereof for any of its general corporate purposes (including,
without limitation, Permitted Acquisitions and prepayment of Debt under the Term Loan Agreement) to the extent not prohibited by this Agreement. Notwithstanding the foregoing, if a Default or an Event of Default has occurred and is continuing, all
Net Proceeds from the sale of Collateral subject to clause (i) above or from any issuance of equity by Borrowers under clause (iii) above shall be applied to the Obligations. Any such prepayment required by this Section 3.3(a)
shall be applied in accordance with Section 3.7. 

(b)       [Intentionally Deleted]. 

(c)       No provision contained in this Section 3.3
shall constitute a consent to an asset disposition that is otherwise not permitted by the terms of this Agreement. 
 3.4       Eurodollar Revolving Loan Prepayments. In connection with any prepayment, if any Eurodollar Revolving Loan is prepaid prior to the expiration date of
the 

  
 14 

 
Interest Period applicable thereto, the Borrowers shall pay to the Lenders the amounts described in Section 4.4. 

3.5       Payments by the Borrowers. 

(a)       All payments to be made by the Borrowers shall be made
without set-off, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the Agent for the account of the Lenders, at the account designated by the Agent and shall be made in Dollars
and in immediately available funds, no later than 3:00 p.m. (Chicago time) on the date specified herein. Any payment received by the Agent after such time shall be deemed (for purposes of calculating interest only) to have been received on the
following Business Day and any applicable interest shall continue to accrue. 

(b)       Subject to the provisions set forth in the definition of
“Interest Period”, whenever any payment is due on a day other than a Business Day, such payment shall be due on the following Business Day, and such extension of time shall in such case be included in the computation of interest or fees,
as the case may be. 
 3.6       Payments as Revolving Loans. At the
election of Agent, all payments of interest, reimbursement obligations in connection with Letters of Credit and Credit Support for Letters of Credit, fees, premiums, reimbursable expenses and other sums payable hereunder, may be paid from the
proceeds of Revolving Loans made hereunder. The Borrowers hereby irrevocably authorize the Agent to charge the Loan Account for the purpose of paying all amounts from time to time due hereunder and agrees that all such amounts charged shall
constitute Revolving Loans (including Swing Line Loans and Agent Advances). 

3.7       Apportionment, Application and Reversal of Payments. Principal and
interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans to which such payments relate held by each Lender) and payments of the fees shall, as applicable, be apportioned ratably among
the Lenders, except for fees payable solely to Agent and the Letter of Credit Issuer and except as provided in Section 11.1(b). All payments shall be remitted to the Agent and all such payments not relating to principal or interest of
specific Loans, or not constituting payment of specific fees, and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities
or expense reimbursements (excluding any amounts relating to Bank Products) then due to the Agent from the Borrowers; second, to pay any fees or expense reimbursements then due to the Lenders from the Borrowers; third, to pay interest
due in respect of all Loans, including Swing Line Loans and Agent Advances; fourth, to pay or prepay principal of the Swing Line Loans and Agent Advances; fifth, to pay or prepay principal of the Revolving Loans (other than Swing Line
Loans and Agent Advances), unpaid reimbursement obligations in respect of Letters of Credit and outstanding amounts due and owing under Hedge Agreements approved in writing by Agent and, to the extent obligations under pre-approved Hedge Agreements
have been increased, only to the extent such increase has been approved in writing by Agent, ratably as to all such obligations under this 

  
 15 

 
category; sixth, to pay an amount to Agent equal to all outstanding Letter of Credit Obligations to be held as cash collateral for such Obligations; and seventh, to the payment of
any other Obligation (including all amounts with respect to Bank Products provided under Section 1.4). Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the Borrowers, or unless an Event of
Default has occurred and is continuing, neither the Agent nor any Lender shall apply any payments which it receives to any Eurodollar Revolving Loan, except (a) on the expiration date of the Interest Period applicable to any such Eurodollar
Revolving Loan, or (b) in the event, and only to the extent, that there are no outstanding CBFR Revolving Loans and, in any event, the Borrowers shall pay Eurodollar breakage losses in accordance with Section 4.4. The Agent and the
Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations. 

3.8      Indemnity for Returned Payments. If after receipt of any payment which is
applied to the payment of all or any part of the Obligations, the Agent, any Lender, the Bank or any Affiliate of the Bank is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of
proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason, then the Obligations or part thereof intended to be satisfied
shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Agent or such Lender and the Borrowers shall jointly and severally be liable to pay to the Agent and the
Lenders, and hereby do jointly and severally indemnify the Agent and the Lenders and hold the Agent and the Lenders harmless for the amount of such payment or proceeds surrendered. The provisions of this Section 3.8 shall be and remain
effective notwithstanding any contrary action which may have been taken by the Agent or any Lender in reliance upon such payment or application of proceeds, and any such contrary action so taken shall be without prejudice to the Agent’s and the
Lenders’ rights under this Agreement and shall be deemed to have been conditioned upon such payment or application of proceeds having become final and irrevocable. The provisions of this Section 3.8 shall survive the termination of
this Agreement. 
 3.9      Agent’s and Lenders’ Books and Records;
Monthly Statements. The Agent shall record the principal amount of the Loans owing to each Lender, the undrawn face amount of all outstanding Letters of Credit and the aggregate amount of unpaid reimbursement obligations outstanding with respect
to the Letters of Credit from time to time on its books. In addition, each Lender may note the date and amount of each payment or prepayment of principal of such Lender’s Loans in its books and records. Failure by Agent or any Lender to make
such notation shall not affect the obligations of the Borrowers with respect to the Loans or the Letters of Credit. The Borrowers agree that the Agent’s and each Lender’s books and records showing the Obligations and the transactions
pursuant to this Agreement and the other Loan Documents shall be admissible in any action or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereof, irrespective of whether any Obligation is also evidenced by a
promissory note or other instrument. The Agent will provide to the Borrower Representative a monthly statement of Loans, payments, and other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on
the Borrowers and an account stated (except for reversals and reapplications of payments made as provided in Section 3.7 and corrections of errors discovered by the Agent), unless the Borrower Representative notifies the

  
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Agent in writing to the contrary within sixty (60) days after such statement is rendered. In the event a timely written notice of objections is given by the Borrower Representative, only the
items to which exception is expressly made will be considered to be disputed by the Borrowers. 
 ARTICLE 4 

TAXES, YIELD PROTECTION AND ILLEGALITY 
 4.1       Taxes. 
 (a)      Any and all payments by the Borrowers to each Lender or the Agent under this Agreement and any other Loan Document shall be made free and clear of, and without
deduction or withholding for any Taxes. In addition, the Borrowers shall pay all Other Taxes. 

(b)      The Borrowers agree, jointly and severally, to indemnify and hold
harmless each Lender and the Agent for the full amount of Taxes or Other Taxes (including any Taxes or Other Taxes imposed by any jurisdiction on amounts payable under this Section) paid by any Lender or the Agent and any liability (including
penalties, interest, additions to tax and expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted. Payment under this indemnification shall be made within 30 days after the
date such Lender or the Agent makes written demand therefor. 

(c)      If the Borrowers shall be required by law to deduct or withhold
any Taxes or Other Taxes from or in respect of any sum payable hereunder to any Lender or the Agent, then: 
 (i)      the sum payable shall be increased as necessary so that after making all required deductions and withholdings (including deductions and withholdings applicable to
additional sums payable under this Section) such Lender or the Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions or withholdings been made; 

(ii)      the Borrowers shall make such deductions and withholdings;

 (iii)      the Borrowers shall pay the full amount deducted
or withheld to the relevant taxing authority or other authority in accordance with applicable law; and 
 (iv)      the Borrowers shall also pay to each Lender or the Agent for the account of such Lender, at the time interest is paid, all additional amounts which the respective
Lender specifies as necessary to preserve the after-tax yield such Lender would have received if such Taxes or Other Taxes had not been imposed. 

(d)      At the Agent’s request, within 30 days after the date of any
payment by the Borrowers of Taxes or Other Taxes, the Borrower Representative 

  
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shall furnish the Agent the original or a certified copy of a receipt evidencing payment thereof, or other evidence of payment satisfactory to the Agent. 

(e)      If the Borrowers are required to pay additional amounts to any
Lender or the Agent pursuant to subsection (c) of this Section, then such Lender shall use reasonable efforts (consistent with legal and regulatory restrictions) to change the jurisdiction of its lending office so as to eliminate any
such additional payment by the Borrowers which may thereafter accrue, if such change in the judgment of such Lender is not otherwise disadvantageous to such Lender. 

4.2       Illegality. 

(a)      If any Lender determines that the introduction of any Requirement
of Law, or any change in any Requirement of Law, or in the interpretation or administration of any Requirement of Law, has made it unlawful, or that any central bank or other Governmental Authority has asserted that it is unlawful, for any Lender or
its applicable lending office to make Eurodollar Revolving Loans, then, on notice thereof by that Lender to the Borrower Representative through the Agent, any obligation of that Lender to make Eurodollar Revolving Loans shall be suspended until that
Lender notifies the Agent and the Borrower Representative that the circumstances giving rise to such determination no longer exist. 
 (b)      If a Lender determines that it is unlawful to maintain any Eurodollar Revolving Loan, the Borrower Representative shall, upon its receipt of notice of such fact and
demand from such Lender (with a copy to the Agent), prepay in full such Eurodollar Revolving Loans of that Lender then outstanding, together with interest accrued thereon and amounts required under Section 4.4, either on the last day of
the Interest Period thereof, if that Lender may lawfully continue to maintain such Eurodollar Revolving Loans to such day, or immediately, if that Lender may not lawfully continue to maintain such Eurodollar Revolving Loans. If the Borrowers are
required to so prepay any Eurodollar Revolving Loan, then concurrently with such prepayment, the Borrowers shall borrow from the affected Lender, in the amount of such repayment, a CBFR Revolving Loan. 

4.3       Increased Costs and Reduction of Return. 

(a)      If any Lender determines that due to either (i) the
introduction of or any change in the interpretation of any law or regulation or (ii) the compliance by that Lender with any guideline or request from any central bank or other Governmental Authority (whether or not having the force of law),
there shall be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining any Eurodollar Revolving Loan, then the Borrowers shall be liable for, and shall from time to time, upon demand (with a copy of such demand
to be sent to the Agent), pay to the Agent for the account of such Lender, additional amounts as are sufficient to compensate such Lender for such increased costs. 

  
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 (b)      If any Lender shall
have determined that (i) the introduction of any Capital Adequacy Regulation, (ii) any change in any Capital Adequacy Regulation, (iii) any change in the interpretation or administration of any Capital Adequacy Regulation by any
central bank or other Governmental Authority charged with the interpretation or administration thereof, or (iv) compliance by such Lender or any corporation or other entity controlling such Lender with any Capital Adequacy Regulation, affects
or would affect the amount of capital required or expected to be maintained by such Lender or any corporation or other entity controlling such Lender and (taking into consideration such Lender’s or such corporation’s or other entity’s
policies with respect to capital adequacy and such Lender’s desired return on capital) determines that the amount of such capital is increased as a consequence of its Commitments, loans, credits or obligations under this Agreement, then, upon
demand of such Lender to the Borrower Representative through the Agent, the Borrowers shall pay to such Lender, from time to time as specified by such Lender, additional amounts sufficient to compensate such Lender for such increase. 

4.4      Funding Losses. The Borrowers shall reimburse each Lender and hold each
Lender harmless from any loss or expense which such Lender may sustain or incur as a consequence of: 
 (a)      the failure of the Borrowers to make on a timely basis any payment of principal of any Eurodollar Revolving Loan; 

(b)      the failure of the Borrowers to borrow, continue or convert a
Loan after the Borrower Representative has given (or is deemed to have given) a Notice of Borrowing or a Notice of Continuation/Conversion; or 
 (c)      the prepayment or other payment (including after acceleration thereof) of any Eurodollar Revolving Loan on a day that is not the last day of the relevant Interest
Period; 
 including any such loss of anticipated profit and any loss or expense arising from the liquidation or reemployment of funds obtained
by it to maintain its Eurodollar Revolving Loans or from fees payable to terminate the deposits from which such funds were obtained. Borrowers shall also pay any customary administrative fees charged by any Lender in connection with the foregoing.

 4.5      Inability to Determine Rates. If the Agent determines that for
any reason adequate and reasonable means do not exist for determining the Adjusted Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Revolving Loan, or that the Adjusted Eurodollar Rate for any requested
Interest Period with respect to a proposed Eurodollar Revolving Loan does not adequately and fairly reflect the cost to the Lenders of funding such Loan, the Agent will promptly so notify the Borrower Representative and each Lender. Thereafter, the
obligation of the Lenders to make or maintain Eurodollar Revolving Loans hereunder shall be suspended until the Agent revokes such notice in writing. Upon receipt of such notice, the Borrower Representative may revoke any Notice of Borrowing or
Notice of Continuation/Conversion then submitted by it. If the Borrower Representative does not revoke 

  
 19 

 
such Notice, the Lenders shall make, convert or continue the Loans, as proposed by the Borrower Representative, in the amount specified in the applicable notice submitted by the Borrower
Representative, but such Loans shall be made, converted or continued as CBFR Revolving Loans instead of Eurodollar Revolving Loans. 
 4.6       Certificates of Agent. If any Lender claims reimbursement or compensation under this Article 4, Agent shall determine the amount thereof and shall
deliver to the Borrower Representative (with a copy to the affected Lender) a certificate setting forth in reasonable detail the amount payable to the affected Lender, and such certificate shall be conclusive and binding on the Borrowers in the
absence of manifest error. 
 4.7       Survival. The agreements and
obligations of the Borrowers in this Article 4 shall survive the payment of all other Obligations. 
 ARTICLE 5 

BOOKS AND RECORDS; FINANCIAL INFORMATION; NOTICES 

5.1       Books and Records. The Borrowers shall maintain, and shall cause
their Subsidiaries to maintain, at all times, correct and complete books, records and accounts in which complete, correct and timely entries are made of its transactions in accordance with GAAP applied consistently with the audited Financial
Statements required to be delivered pursuant to Section 5.2(a). The Borrowers shall, and shall cause their Subsidiaries to, by means of appropriate entries, reflect in such accounts and in all Financial Statements proper liabilities and
reserves for all taxes and proper provision for depreciation and amortization of property and bad debts, all in accordance with GAAP. The Borrowers shall maintain at all times books and records pertaining to the Collateral in such detail, form and
scope as the Agent or any Lender shall reasonably require, including, but not limited to, records of (a) all payments received and all credits and extensions granted with respect to the Accounts; (b) the return, rejection, repossession,
stoppage in transit, loss, damage, or destruction of any Inventory; and (c) all other dealings affecting the Collateral. 
 5.2       Financial Information. The Borrower Representative shall promptly furnish to each Lender, all such financial information as the Agent shall reasonably
request. Without limiting the foregoing, the Borrower Representative will furnish to the Agent, in sufficient copies for distribution by the Agent to each Lender, in such detail as the Agent or the Lenders shall request, the following: 

(a)      As soon as available, but in any event not later than ninety
(90) days after the close of each Fiscal Year (commencing with the Fiscal Year ending November 30, 2010), audited consolidated balance sheets, and income statements, cash flow statements and changes in stockholders’ equity for Omnova
and its Subsidiaries, on a consolidated basis, for such Fiscal Year, and the accompanying notes thereto, setting forth in each case in comparative form figures for the previous Fiscal Year, all in reasonable detail, fairly presenting the financial
position and the results of operations of Omnova and its Subsidiaries as at the date thereof and for the Fiscal Year then ended, and prepared in accordance with GAAP. Such statements shall be examined in accordance with generally accepted

  
 20 

 
auditing standards by and, in the case of such statements performed on a consolidated basis, accompanied by a report thereon unqualified in any respect of independent certified public accountants
selected by the Borrower Representative and reasonably satisfactory to the Agent. The Borrower Representative, simultaneously with retaining such independent public accountants to conduct such annual audit, shall send a letter to such accountants,
with a copy to the Agent and the Lenders, notifying such accountants that one of the primary purposes for retaining such accountants’ services and having financial statements audited by them is for use by the Agent and the Lenders. To the
extent the Borrower Representative cannot provide Agent with any additional financial statements and other supporting financial documents and schedules as the Agent may request, the Borrower Representative hereby authorize the Agent, with the
Borrower Representative’s participation, to communicate directly with the Borrower Representative’s certified public accountants and, by this provision, authorize those accountants to discuss directly with the Agent, with Borrower
Representative’s participation, the finances and affairs of Omnova and its Subsidiaries; provided, that if any request made to such accountants by the Agent is for information, materials or other supporting financial documents or
schedules with respect to matters which are outside the scope of such accountants’ engagement or which have not been approved for release by Borrower Representative’s audit committee, at the request of Agent, Borrower Representative will
propose to its audit committee for consideration at its next scheduled meeting an amendment to include such additional matters in the scope of its accountants’ engagement and/or to approve the release of such materials or supporting information
as Agent shall request; provided, further that such accountants may only disclose such materials and supporting information if permitted to be disclosed pursuant to such accountants’ policies and procedures. 

(b)       As soon as available, but in any event not later than
thirty (30) days after the end of each month, unaudited consolidated balance sheets of Omnova and its Subsidiaries, on a consolidated basis, as at the end of such month, and unaudited consolidated income statements and cash flow statements for
Omnova and its Subsidiaries, on a consolidated basis, for such month and for the period from the beginning of the Fiscal Year to the end of such month, all in reasonable detail, fairly presenting the financial position and results of operations of
Omnova and its Subsidiaries as at the date thereof and for such periods, and, in each case, in comparable form, figures for the corresponding period for the prior Fiscal Year and for the Borrower Representative’s budget, and prepared in
accordance with GAAP applied consistently as with the audited Financial Statements required to be delivered pursuant to Section 5.2(a); provided, however, that monthly cash flow statements will be prepared in a manner
consistent with the unaudited cash flow statements delivered to Agent prior to the Closing Date and which is not in accordance with GAAP. The Borrower Representative shall certify by a certificate signed by its chief financial officer that all such
statements (except the monthly cash flow statements) have been prepared in accordance with GAAP and present fairly the financial position of 

  
 21 

 
Omnova and its Subsidiaries as at the dates thereof and its results of operations for the periods then ended, subject to normal year-end adjustments. 

(c)       [intentionally omitted]. 

(d)       With the annual audited Financial Statements delivered
pursuant to Section 5.2(a), and within thirty (30) days after the end of each month, a certificate of the chief financial officer of the Borrower Representative setting forth in reasonable detail the calculations required to
establish that the Borrowers were in compliance with the covenant set forth in Section 7.23, during the period covered in such Financial Statements and as at the end thereof. Within thirty (30) days after the end of each month, a
certificate of the chief financial officer of the Borrower Representative stating that, except as explained in reasonable detail in such certificate, (A) all of the representations and warranties of the Borrowers contained in this Agreement and
the other Loan Documents are correct and complete in all material respects as at the date of such certificate as if made at such time, except for those that speak as of a particular date, (B) the Borrowers are, at the date of such certificate,
in compliance in all material respects with all of their respective covenants and agreements in this Agreement and the other Loan Documents, (C) no Default or Event of Default then exists or existed during the period covered by the Financial
Statements for such month, (D) describing and analyzing in reasonable detail all material trends, changes, and developments in each and all Financial Statements; and (E) explaining the variances of the figures in the corresponding budgets
and prior Fiscal Year financial statements. If such certificate discloses that a representation or warranty is not correct or complete, or that a covenant has not been complied with, or that a Default or Event of Default existed or exists, such
certificate shall set forth what action the Borrowers have taken or proposes to take with respect thereto. 
 (e)       Within ninety (90) days after the commencement of each Fiscal Year (commencing with the Fiscal Year beginning December 1, 2010), annual forecasts (to
include forecasted consolidated balance sheets, income statements and cash flow statements) for Omnova and its Subsidiaries, on a consolidated basis, as at the end of and for each quarter of such Fiscal Year. 

(f)       Promptly after filing with the PBGC and the IRS, a copy of
each annual report and, upon Agent’s request, such other filings filed with respect to each Plan of the Borrowers. 
 (g)       As soon as available, but in any event not later than forty-five (45) days after the end of each Fiscal Quarter, unaudited consolidated financial
statements for such Fiscal Quarter, in a form consistent with Borrower Representative’s Form 10-Q quarterly report filed with the Securities and Exchange Commission for the Fiscal Quarter ending August 30, 2010. Promptly upon the filing
thereof, Borrower Representative shall notify Agent if any reports or other documents have been filed by the Borrower Representative or any of its Subsidiaries with the Securities and Exchange Commission under the Exchange

  
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Act. Borrower Representative shall promptly provide Agent with copies of any of the above filings if not electronically available and shall promptly provide Agent with copies of all reports,
notices, or statements sent or received by the Borrower Representative or any of its Subsidiaries to or from the holders of any equity interests of the Borrower Representative (other than routine non-material correspondence sent by shareholders of
the Borrower Representative to the Borrower Representative) or any such Subsidiary or of any Debt of the Borrower Representative or any of its Subsidiaries registered under the Securities Act of 1933 or to or from the trustee under any indenture
under which the same is issued. 
 (h)       As soon as
available, but in any event not later than 15 days after the Borrower Representative’s receipt thereof, a copy of all management reports and management letters prepared for the Borrower Representative by any independent certified public
accountants of the Borrower Representative. 

(i)       Promptly after their distribution or filing, as applicable,
copies of any and all proxy statements, financial statements, and reports which the Borrower Representative makes available to its shareholders; provided, that if any such materials are available electronically as a filing with the Securities
and Exchange Commission, Borrower Representative shall give Agent prompt notice of such filing and need not provide Agent with copies of such publicly filed materials. 

(j)       If requested by the Agent, promptly after filing with the
IRS, a copy of each tax return filed by the Borrower Representative or by any of its Subsidiaries. 
 (k)       Within fifteen (15) days after the end of each month (for such month) or more frequently if requested by Agent, a Borrowing Base Certificate together with
supporting information in accordance with Section 9 of the Security Agreement; provided, that to the extent Availability falls below $25,000,000 at any time after the date hereof, then from and after such date, such Borrowing Base
Certificate and supporting information shall be delivered on a weekly basis on Wednesday of each week for the week ending on the previous Friday. Upon the commencement of such weekly reporting, Borrowers may only revert back to monthly reporting
from and after the date on which Borrowers have maintained Availability of at least $25,000,000 for ninety (90) consecutive days. 
 (l)       On each anniversary date of the Closing Date and at any other time as Agent shall request so long as an Event of Default has occurred and is continuing, an
updated Schedule 6.13 which shall be complete and accurate as of such date. On the last day of each Fiscal Quarter and at any other time as Agent shall request so long as an Event of Default has occurred and is continuing, an updated
Schedule 6.12 which shall be complete and accurate as of such date. 

  
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 (m)       Such
additional information as the Agent and/or any Lender may from time to time reasonably request regarding the financial and business affairs of the Borrower Representative or any Subsidiary. 

5.3       Notices to the Lenders. The Borrower Representative shall notify the
Agent and the Lenders in writing of the following matters at the following times: 

(a)       Immediately after an officer of Borrower Representative
becomes aware of any Default or Event of Default; (b) Immediately after an officer of Borrower Representative becomes aware of the assertion by the holder of any capital stock of a Borrower or of any Subsidiary or the holder of any Debt of a
Borrower or any Subsidiary in a face amount in excess of $100,000 that a default exists with respect thereto or that such Borrower or Subsidiary is not in compliance with the terms thereof, or the threat or commencement by such holder of any
enforcement action because of such asserted default or non-compliance; 

(c)       Immediately after an officer of Borrower Representative
becomes aware of any event or circumstance which could have a Material Adverse Effect; 

(d)       Immediately after an officer of Borrower Representative
becomes aware of any pending or threatened action, suit, or proceeding, by any Person, or any pending or threatened investigation by a Governmental Authority, which could reasonably be expected to have a Material Adverse Effect; 

(e)       Immediately after an officer of Borrower Representative
becomes aware of any pending or threatened strike, work stoppage, unfair labor practice claim, or other labor dispute affecting a Borrower or any of its Subsidiaries in a manner which could reasonably be expected to have a Material Adverse Effect;

 (f)       Immediately after an officer of Borrower
Representative becomes aware of any violation of any law, statute, regulation, or ordinance of a Governmental Authority affecting a Borrower or any Subsidiary which could reasonably be expected to have a Material Adverse Effect; 

(g)       Immediately after receipt of any notice of any violation by
a Borrower or any of its Subsidiaries of any Environmental Law which could reasonably be expected to have a Material Adverse Effect or that any Governmental Authority has asserted in writing that a Borrower or any Subsidiary is not in compliance
with any Environmental Law or is investigating such Borrower’s or Subsidiary’s compliance therewith, which non-compliance could reasonably be expected to have a Material Adverse Effect; 

(h)       Immediately after receipt of any written notice that a
Borrower or any of its Subsidiaries is or may be liable to any Person as a result of the Release or threatened Release of any Contaminant or that a Borrower or any Subsidiary is subject to investigation by any Governmental Authority evaluating
whether any 

  
 24 

 
remedial action is needed to respond to the Release or threatened Release of any Contaminant which, in either case, is reasonably likely to give rise to liability of Borrowers in excess of
$850,000; 
 (i)       Immediately after receipt of any
written notice of the imposition of any Environmental Lien against any property of a Borrower or any of its Subsidiaries; 
 (j)       Any change in a Borrower’s or Guarantor’s name as it appears in the state of its incorporation or other organization, state of incorporation or
organization, type of entity, organizational identification number, locations of Collateral, or form of organization, trade names under which such Borrower will sell Inventory or create Accounts, or to which instruments in payment of Accounts may be
made payable, in each case at least thirty (30) days prior thereto; 

(k)       Within ten (10) Business Days after a Borrower or any
ERISA Affiliate knows or has reason to know, that an ERISA Event (other than a Reportable Event with respect to a Pension Plan) or a prohibited transaction (as defined in Sections 406 of ERISA and 4975 of the Code) has occurred, and, when known, any
action taken or threatened by the IRS, the DOL or the PBGC with respect thereto; and in the event a Reportable Event with respect to a Pension Plan occurs within ten Business Days after such occurrence and before such occurrence is reported to the
PBGC. 
 (l)       Upon request, or, in the event that such
filing reflects a significant change with respect to the matters covered thereby, within three (3) Business Days after the filing thereof with the PBGC, the DOL or the IRS, as applicable, copies of the following: (i) each annual report
(Form 5500 series), including Schedule B thereto, filed with the PBGC, the DOL or the IRS with respect to each Plan, (ii) a copy of each funding waiver request filed with the PBGC, the DOL or the IRS with respect to any Plan and all
communications received by a Borrower or any ERISA Affiliate from the PBGC, the DOL or the IRS with respect to such request, and (iii) a copy of each other filing or notice filed with the PBGC, the DOL or the IRS, with respect to each Plan by
either a Borrower or any ERISA Affiliate; 
 (m)       Upon
request, copies of each actuarial report for any Plan or Multi-employer Plan and annual report for any Multi-employer Plan and a summary of any changes in the benefits of any existing Plan which increases the Borrowers’ annual costs with
respect thereto by an amount in excess of $1,000,000; and within three (3) Business Days after receipt by an officer of a Borrower or an officer of any ERISA Affiliate, copies of the following: (i) any notices of the PBGC’s intention
to terminate a Plan or to have a trustee appointed to administer such Plan; (ii) any favorable or unfavorable determination letter from the IRS regarding the qualification of a Plan under Section 401(a) of the Code; or (iii) any

  
 25 

 
notice from a Multi-employer Plan regarding the imposition of withdrawal liability; 
 (n)       Within three (3) Business Days after an officer of the Borrower Representative becomes aware of the occurrence thereof: (i) the establishment of any
new Plan or the commencement of contributions to any Plan to which a Borrower or any ERISA Affiliate was not previously contributing; or (ii) any failure by a Borrower or any ERISA Affiliate to make a required installment or any other required
payment under Section 430 of the Code on or before the due date for such installment or payment; or 
 (o)       Within three (3) Business Days after an officer of the Borrower Representative or any ERISA Affiliate knows or has reason to know that any of the
following events has or will occur: (i) a Multi-employer Plan has been or will be terminated; (ii) the administrator or plan sponsor of a Multi-employer Plan intends to terminate a Multi-employer Plan; or (iii) the PBGC has instituted
or will institute proceedings under Section 4042 of ERISA to terminate a Multi-employer Plan. 
 Each
notice given under this Section shall describe the subject matter thereof in reasonable detail, and shall set forth the action that the Borrower, its Subsidiary, or any ERISA Affiliate, as applicable, has taken or proposes to take with respect
thereto. 
 5.4       Appraisals. Whenever a Default or Event of
Default exists, and at such other times not more frequently than once a year as the Agent requests, the Borrowers shall, at their expense and upon the Agent’s request, provide the Agent with an Appraisal. 

ARTICLE 6 

GENERAL WARRANTIES AND REPRESENTATIONS 
 Each Borrower warrants and represents to the Agent and the Lenders, after giving effect to the Transactions, that except as hereafter disclosed to and accepted by the Agent and the Required Lenders in
writing: 
 6.1       Authorization, Validity, and Enforceability of this
Agreement and the Loan Documents. Each Borrower and each Guarantor has the power and authority to execute, deliver and perform this Agreement and the other Loan Documents to which it is a party, to incur the Obligations, and to grant to the
Agent Liens upon and security interests in the Collateral. Each Borrower and each Guarantor has taken all necessary action (including obtaining approval of its stockholders if necessary) to authorize its execution, delivery, and performance of this
Agreement and the other Loan Documents to which it is a party. This Agreement and the other Loan Documents to which it is a party have been duly executed and delivered by each Borrower and each Guarantor, and constitute the legal, valid and binding
obligations of such Borrower and such Guarantor, enforceable against it in accordance with their respective terms. Each Borrower’s and each Guarantor’s execution, delivery, and performance of this Agreement and the other Loan Documents to
which it is a party do not and will not conflict with, or constitute a violation or breach of (excluding conflicts, violations or breaches of 

  
 26 

 
any provision in any contract prohibiting the grant of a lien in specific leased or licensed assets), or result in the imposition of any Lien upon the property of such Borrower or any of its
Subsidiaries, by reason of the terms of (a) any contract, mortgage, lease, agreement, indenture, or instrument to which such Borrower or Subsidiary is a party or which is binding upon it and which involves obligations in excess of $500,000,
(b) any Requirement of Law applicable to such Borrower or any of its Subsidiaries, or (c) the certificate or articles of incorporation or bylaws or the limited liability company or limited partnership agreement of such Borrower or any of
its Subsidiaries. 
 6.2       Validity and Priority of Security
Interest. The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all the Collateral in favor of the Agent, for the ratable benefit of the Agent and the Lenders, and such Liens constitute perfected and
continuing Liens on all the Collateral, having priority over all other Liens on the Collateral, except for those Liens identified in clauses (a), (b), (c), (d), (f), (g), (h), (i), (k) and (l) of the definition of Permitted Liens
securing all the Obligations, and enforceable against the Borrowers and all third parties. 

6.3       Organization and Qualification. Each Borrower and each of its
Subsidiaries (a) is duly organized or incorporated and validly existing in good standing under the laws of the state of its organization or incorporation, (b) is qualified to do business and is in good standing in the jurisdictions set
forth on Schedule 6.3 which are the only jurisdictions in which qualification is necessary in order for it to own or lease its property and conduct its business and in respect of any jurisdiction outside the United States, where the failure
to so qualify in such jurisdiction could reasonably be expected to have a Material Adverse Effect and (c) has all requisite power and authority to conduct its business and to own its property. 

6.4       Corporate Name; Prior Transactions. Each Borrower and each of its
Subsidiaries has not, during the past five (5) years, been known by or used any other corporate or fictitious name other than OMNOVA Solutions Inc. or Eliokem, Inc., or been a party to any merger or consolidation, or acquired all or
substantially all of the assets of any Person, or acquired any of its property outside of the ordinary course of business, except for the acquisition by Borrower Representative of all the equity interests in Eliokem International and its
subsidiaries on the Closing Date. 
 6.5       Subsidiaries and
Affiliates. Schedule 6.5 is a correct and complete list of the name and relationship to the Borrower Representative of each and all of the Borrower Representative’s Subsidiaries and other Affiliates subject to the addition of any new
Subsidiaries pursuant to a Permitted Acquisition. Each Subsidiary is (a) duly incorporated or organized and validly existing in good standing under the laws of its state of incorporation or organization set forth on Schedule 6.5, and
(b) qualified to do business and in good standing in each jurisdiction in which the failure to so qualify or be in good standing could reasonably be expected to have a material adverse effect on any such Subsidiary’s business, operations,
Collateral, or condition (financial or otherwise) and (c) has all requisite power and authority to conduct its business and own its property. 
 6.6       Financial Statements and Projections. 

  
 27 

 (a)       The Borrower
Representative has delivered to the Agent and the Lenders the audited balance sheet and related statements of income, retained earnings, cash flows, and changes in stockholders equity for (x) the Borrower Representative and its consolidated
Subsidiaries as of November 30, 2009, and for the Fiscal Year then ended, accompanied by the report thereon of the Borrower Representative’s independent certified public accountants, Ernst & Young and (y) the Acquired
Business and its Subsidiaries for the fiscal year of the Acquired Business ended December 31, 2009. The Borrower Representative has also delivered to the Agent and the Lenders the unaudited balance sheet and related statements of income and
cash flows for (x) the Borrower Representative and its consolidated Subsidiaries for the month ending September 30, 2010 and (y) the Acquired Business and its Subsidiaries for the fiscal quarter of the Acquired Business ended
June 30, 2010. All such financial statements have been prepared in accordance with GAAP (other than for monthly cash flow statements which have been prepared in a manner consistent with the unaudited cash flow statements delivered to Agent
prior to the Closing Date) and present accurately and fairly in all material respects the financial position of the Borrower Representative and its consolidated Subsidiaries or the Acquired Business and its Subsidiaries, as the case may be, as at
the dates thereof and their results of operations for the periods then ended. 

(b)       The Latest Projections when submitted to the Lenders as
required herein represent the Borrowers’ best estimate of the future financial performance of the Borrower Representative and its consolidated Subsidiaries for the periods set forth therein. The Latest Projections have been prepared on the
basis of the assumptions set forth therein, which the Borrowers believe are fair and reasonable in light of current and reasonably foreseeable business conditions at the time submitted to the Lenders. 

6.7       [Intentionally Deleted] 

6.8       Solvency. After giving effect to the Transactions, each Borrower is
Solvent, and the Borrowers and their Subsidiaries on a consolidated basis are Solvent, and each Borrower and the Borrowers and their Subsidiaries on a consolidated basis shall remain Solvent during the term of this Agreement. 

6.9       Debt. After giving effect to the making of the Revolving Loans to be
made on the Closing Date, the Borrowers and their Subsidiaries have no Debt, except (a) the Obligations, (b) the Debt under the Term Loan Agreement, (c) the Debt under the Senior Notes and (d) Debt described on Schedule
6.9. 
 6.10       Dividends. Since November 30, 2009, no
Dividends have been declared, paid, or made upon or in respect of any capital stock or other securities of the Borrowers or any of their Subsidiaries. 
 6.11       Real Estate; Leases; Liens. Schedule 6.11 sets forth, as of the Closing Date, a correct and complete list of all Real Estate owned by each
Borrower and all Real Estate 

  
 28 

 
owned by any of their Domestic Subsidiaries, all leases and subleases of real or personal property held by each Borrower as lessee or sublessee (other than any lease of personal property as to
which such Borrower is lessee or sublessee for which the aggregate payments with respect to such lease in any Fiscal Year are less than $100,000), and all leases and subleases of real or personal property held by each Borrower as lessor, or
sublessor. Each of such leases and subleases in respect of real property where a Borrower maintains Collateral (including, without limitation, the offices in Fairlawn, Ohio) is valid and enforceable in accordance with its terms and is in full force
and effect, and no default by any party to any such lease or sublease exists. With respect to all other leases and subleases of real or personal property, each of such leases and subleases is valid and enforceable in accordance with its terms and is
in full force and effect, and no default by any party to any such lease or sublease exists except for defaults that could not be reasonably expected to have a Material Adverse Effect. Each Borrower has good and marketable title in fee simple to the
Real Estate identified on Schedule 6.11 as owned by such Borrower, or valid leasehold interests in all Real Estate designated therein as “leased” by such Borrower and each Borrower and its Subsidiaries have good, indefeasible, and
merchantable title to all of their respective property reflected on the pro forma balance sheet of Borrowers delivered to Agent on or about the Closing Date, except as disposed of in the ordinary course of business since the date thereof. Except as
disclosed on Schedule 6.11, Borrowers and their Subsidiaries own their assets free of all Liens except Permitted Liens. 
 6.12       Proprietary Rights. Schedule 6.12 sets forth a correct and complete list of all of the Borrowers’ and Guarantors’ Proprietary Rights,
as updated by Borrowers pursuant to Section 5.2(l). None of the Proprietary Rights is subject to any licensing agreement or similar arrangement except as set forth on Schedule 6.12, as updated by Borrowers pursuant to
Section 5.2(l). To the best of the Borrowers’ knowledge, none of the Proprietary Rights infringes on or conflicts with any other Person’s property, and no other Person’s property infringes on or conflicts with the
Proprietary Rights to the extent that such infringement or conflict with the Proprietary Rights could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Proprietary Rights described on Schedule
6.12 (as updated by Borrowers pursuant to Section 5.2(l))constitute all of the property of such type necessary to the current conduct of the Borrowers’ business. 

6.13       Trade Names. All trade names under which each Borrower or any of
its Domestic Subsidiaries will sell Inventory or create Accounts, or to which instruments in payment of Accounts may be made payable, are listed on Schedule 6.13, as updated by Borrowers pursuant to Section 5.2(l). 

6.14       Litigation. Except as set forth on Schedule 6.14, there is
no pending, or to the best of the Borrowers’ knowledge threatened, action, suit, proceeding, or counterclaim by any Person, or to the best of the Borrowers’ knowledge, investigation by any Governmental Authority, or any basis for any of
the foregoing, which could reasonably be expected to have a Material Adverse Effect. 

6.15       Labor Disputes. Except as set forth on Schedule 6.15, as of
the Closing Date (a) there is no collective bargaining agreement or other labor contract covering employees of the Borrowers or any of their Domestic Subsidiaries, (b) no such collective bargaining agreement or other labor contract is
scheduled to expire during the term of this Agreement, (c) to 

  
 29 

 
the best of Borrowers’ knowledge, no union or other labor organization is seeking to organize, or to be recognized as, a collective bargaining unit of employees of the Borrowers or any of
their Domestic Subsidiaries or for any similar purpose, (d) there is no pending or (to the best of the Borrowers’ knowledge) threatened, strike or work stoppage and (e) there is no pending or (to the best of the Borrowers’
knowledge) threatened unfair labor practice claim, or other labor dispute against or affecting the Borrowers or their Subsidiaries or their employees that could, individually or in the aggregate, reasonably be expected to have a Material Adverse
effect. 
 6.16      Environmental Laws. Except as otherwise disclosed on
Schedule 6.16, to the best knowledge of each officer of Borrowers, based on reasonable investigation and inquiry: 
 (a)       The Borrowers and their Subsidiaries have complied in all material respects with all Environmental Laws for which such failure to comply could, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect and neither the Borrowers nor any Subsidiary nor any of their presently owned real property or presently conducted operations, nor their previously owned real property or
prior operations, is subject to any enforcement order from or liability agreement with any Governmental Authority or private Person respecting (i) compliance with any Environmental Law or (ii) any potential liabilities and costs or
remedial action arising from the Release or threatened Release of a Contaminant, that in either instance could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b)       The Borrowers and their Subsidiaries have obtained or filed
applications for all permits necessary for their current operations under Environmental Laws, and all such permits are in good standing and the Borrowers and their Subsidiaries are in compliance with all material terms and conditions of such
permits. 
 (c)       Neither the Borrowers nor any of their
Subsidiaries nor any of its predecessors in interest, has in violation of applicable law stored, treated or disposed of any hazardous waste except where such violation, individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect. 
 (d)       Neither the Borrowers
nor any of their Subsidiaries has received any summons, complaint, order or similar written notice indicating that it is not currently in compliance with, or that any Governmental Authority is investigating its compliance with, any Environmental
Laws or that it is or may be liable to any other Person as a result of a Release or threatened Release of a Contaminant, that in either instance could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 (e)       None of the present or past operations of the
Borrowers and their Subsidiaries is the subject of any investigation by any Governmental Authority evaluating whether any remedial action is needed to respond to a Release or 

  
 30 

 
threatened Release of a Contaminant that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(f)       Neither the Borrowers nor any of their Subsidiaries has
filed any notice under any requirement of Environmental Law reporting a spill or accidental and unpermitted Release or discharge of a Contaminant into the environment which could, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 (g)       Neither the Borrowers
nor any of their Subsidiaries has entered into any negotiations or settlement agreements with any Person (including the prior owner of its property) imposing material obligations or liabilities on the Borrowers or any of their Subsidiaries with
respect to any remedial action in response to the Release of a Contaminant or environmentally related claim. 
 (h)       None of the products manufactured, distributed or sold by the Borrowers or any of their Subsidiaries contain asbestos containing material. 

(i)        No Environmental Lien has attached to the Real
Estate. 
 6.17      No Violation of Law. Neither the Borrowers nor any of
their Subsidiaries is in violation of any law, statute, regulation, ordinance, judgment, order, or decree applicable to it which violation could reasonably be expected to have a Material Adverse Effect. 

6.18      No Default. Neither the Borrowers nor any of their Subsidiaries is in
default with respect to any note, indenture, loan agreement, mortgage, lease, deed, or other agreement to which such Borrower or Subsidiary is a party or by which it is bound, which default could reasonably be expected to have a Material Adverse
Effect. 
 6.19      ERISA Compliance and Foreign Pension Plans. Except as
specifically disclosed in Schedule 6.19: 

(a)       Each Plan is in compliance in all material respects with
the applicable provisions of ERISA, the Code and other federal or state law and listed on Schedule 6.19. Each Plan which is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS and to
the best knowledge of the Borrowers, nothing has occurred which would cause the loss of such qualification. The Borrowers and each ERISA Affiliate have made all required contributions to any Plan subject to Sections 412 and 430 of the Code, and no
application for a funding waiver or an extension of any amortization period pursuant to Sections 412 and 430 of the Code has been made with respect to any Plan. 

(b)       There are no pending or, to the best knowledge of
Borrowers, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan which has resulted or could reasonably be expected to result in a Material Adverse Effect. There has been no prohibited transaction
or 

  
 31 

 
violation of the fiduciary responsibility rules with respect to any Plan which has resulted or could reasonably be expected to result in a Material Adverse Effect. 

(c)       (i) No ERISA Event has occurred or is reasonably
expected to occur; (ii) [intentionally deleted]; (iii) neither the Borrowers nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums
due and not delinquent under Section 4007 of ERISA); (iv) neither the Borrowers nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under
Section 4219 of ERISA, would result in such liability) under Section 4201 or 4243 of ERISA with respect to a Multi-employer Plan; and (v) neither the Borrowers nor any ERISA Affiliate has engaged in a transaction that could be subject
to Section 4069 or 4212(c) of ERISA. 
 (d)       Each
Foreign Pension Plan has been maintained in compliance with its terms and with the requirements of any and all applicable laws, statutes, rules, regulations and orders and has been maintained, where required, in good standing with applicable
regulatory authorities except to the extent that the failure to comply therewith would not reasonably be expected to result in a Material Adverse Effect. Neither any Borrower nor any of its Subsidiaries has incurred any obligation in an amount that
would reasonably be expected to result in a Material Adverse Effect in connection with the termination of or withdrawal from any Foreign Pension Plan. 
 6.20      Taxes. The Borrowers and their Subsidiaries have filed all federal and other tax returns and reports required to be filed, and have paid all federal and
other taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable unless such unpaid taxes and assessments would constitute a Permitted Lien. 

6.21      Regulated Entities. None of the Borrowers, any Person controlling any
Borrower, or any Subsidiary, is an “Investment Company” within the meaning of the Investment Company Act of 1940. The Borrowers are not subject to regulation under the Federal Power Act, the Interstate Commerce Act, any state public
utilities code or law, or any other federal or state statute or regulation limiting its ability to incur indebtedness. 
 6.22      Use of Proceeds; Margin Regulations. Up to $20,000,000 in proceeds of the Loans may be used on the Closing Date to refinance certain existing indebtedness
and to finance the acquisition of Eliokem International. Thereafter, proceeds of the Loans may be used to finance the Borrowers’ working capital needs and for general corporate purposes of the Borrowers. Neither the Borrowers nor any Subsidiary
is engaged in the business of purchasing or selling Margin Stock or extending credit for the purpose of purchasing or carrying Margin Stock. 
 6.23      Copyrights, Patents, Trademarks and Licenses, etc. Each Borrower and each of its Subsidiaries owns or is licensed or otherwise has the right to use all of
the patents, 

  
 32 

 
trademarks, service marks, trade names, copyrights, contractual franchises, licenses, rights of way, authorizations and other rights that are reasonably necessary for the operation of its
businesses, without conflict with the rights of any other Person except where any conflict, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. To the best knowledge of each Borrower, no slogan or
other advertising device, product, process, method, substance, part or other material now employed by such Borrower or any Subsidiary infringes upon any valid, enforceable intellectual property rights held by any other Person. No claim or litigation
regarding any of the foregoing is pending or, to the knowledge of Borrowers, threatened, which, in either case, could reasonably be expected to have a Material Adverse Effect. 

6.24       No Material Adverse Change. As of the Closing Date, no Material
Adverse Effect has occurred since November 30, 2009. 

6.25       Full Disclosure. None of the representations or warranties made by
the Borrowers or any Subsidiary in the Loan Documents as of the date such representations and warranties are made or deemed made, and none of the statements contained in any exhibit, report, statement or certificate furnished by or on behalf of a
Borrower or any Subsidiary in connection with the Loan Documents (including the offering and disclosure materials delivered by or on behalf of a Borrower to the Lenders prior to the Closing Date), contains any untrue statement of a material fact or
omits any material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which they are made, not misleading as of the time when made or delivered. 

6.26       Material Agreements. Schedule 6.26 hereto sets forth as of
the Closing Date all material agreements and contracts to which each Borrower or any of its Subsidiaries is a party or is bound as of the date hereof. 
 6.27       Bank Accounts. Schedule 6.27 contains as of the Closing Date a complete and accurate list of all bank accounts maintained by each Borrower and
Guarantor with any bank or other financial institution. 

6.28       Governmental Authorization. No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental Authority or other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, each Borrower or any of its
Subsidiaries of this Agreement or any other Loan Document. 

6.29       Insurance. Schedule 6.29 summarizes the property and
casualty insurance carried by each Borrower with respect to itself and its Subsidiaries. Schedule 6.29 includes the insurer’s or insurers’ name(s), policy number(s), expiration date(s), amount(s) of coverage, type(s) of coverage and
deductibles. Schedule 6.29 also includes similar information, and describes any reserves, relating to any self-insurance program that is in effect. 
 6.30       Inactive Subsidiaries. As of the Closing Date, each Inactive Subsidiary is set forth on Schedule 6.30. 

  
 33 

 6.31       Reportable
Transaction. The Borrowers do not intend to treat the Advances and related transactions as being a “reportable transaction” (within the meaning of Treasury Regulation Section 1.6011-4). In the event the Borrowers determine to take
any action inconsistent with such intention, Borrower Representative will promptly notify the Agent thereof. 

6.32       Common Enterprise. The successful operation and condition of each
of the Borrowers is dependent on the continued successful performance of the functions of the group of the Borrowers as a whole and the successful operation of each Borrower is dependent on the successful performance and operation of each other
Borrower. Each Borrower expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from (i) successful operations of each of the
other Borrowers and (ii) the credit extended by the Lenders to the Borrowers hereunder, both in their separate capacities and as members of the group of companies. Each Borrower has determined that execution, delivery, and performance of this
Agreement and any other Loan Documents to be executed by such Borrower is within its purpose, will be of direct and indirect benefit to such Borrower, and is in its best interest. 

ARTICLE 7 

AFFIRMATIVE AND NEGATIVE COVENANTS 
 Each Borrower covenants to the Agent and each Lender that so long as any of the Obligations remain outstanding or this Agreement is in effect: 

7.1       Taxes and Other Obligations. Each Borrower shall, and shall cause
each of its Subsidiaries to, (a) file when due all tax returns and other reports which it is required to file; (b) pay, or provide for the payment, when due, of all taxes, fees, assessments and other governmental charges against it or upon
its property, income and franchises, make all required withholding and other tax deposits, and establish adequate reserves for the payment of all such items, and provide to the Agent and the Lenders, upon request, satisfactory evidence of its timely
compliance with the foregoing; and (c) pay when due all Debt owed by it and all claims of materialmen, mechanics, carriers, warehousemen, landlords, processors and other like Persons, and all other indebtedness owed by it and perform and
discharge in a timely manner all other obligations undertaken by it; provided, however, so long as the Borrower Representative has notified the Agent in writing, neither the Borrowers nor any of their Subsidiaries need pay any tax,
fee, assessment, or governmental charge or claims of materialmen, mechanics, carriers, warehousemen, landlords, processors and other like Persons (i) it is contesting in good faith by appropriate proceedings diligently pursued, (ii) as to
which a Borrower or its Subsidiary, as the case may be, has established proper reserves as required under GAAP, and (iii) the nonpayment of which does not result in the imposition of a Lien (other than a Permitted Lien) or if such nonpayment
will result in a Lien (other than a Permitted Lien) such anticipated Lien is bonded to the reasonable satisfaction of Agent (A) within thirty (30) days after the imposition of such Lien if such Lien is imposed solely on a Borrower’s
owned Real Estate or (B) in all other cases, prior to the time such Lien is imposed. 

7.2       Legal Existence and Good Standing. Each Borrower shall, and shall
cause each of its Subsidiaries to, maintain its legal existence and its qualification and good standing in 

  
 34 

 
all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect. 

7.3       Compliance with Law and Agreements; Maintenance of Licenses. Each
Borrower shall comply, and shall cause each Subsidiary to comply, in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor Standards Act and all
Environmental Laws). Each Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its business as conducted on
the Closing Date. Each Borrower shall not, and shall cause each Subsidiary not to, modify, amend or alter its certificate or articles of incorporation or bylaws, other than in a manner which does not adversely affect the rights of the Lenders or the
Agent. 
 7.4       Maintenance of Property; Inspection of Property.

 (a)       The Borrowers shall, and shall cause each of
their Subsidiaries to, maintain all of its property necessary and useful in the conduct of its business, in good operating condition and repair, ordinary wear and tear excepted. 

(b)       The Borrowers shall maintain complete and accurate books
and records (in accordance with GAAP) with respect to the financial operations of the Borrowers and the Collateral, and furnish to the Agent, with sufficient copies for each of the Lenders, such reports relating to the Collateral as the Agent shall
from time to time request. 
 (c)       The Borrowers shall
permit representatives and independent contractors of the Agent (at the expense of the Borrowers) and, so long as no Event of Default has occurred and is continuing, not to exceed two (2) times per year to visit and inspect any of its
properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom and to discuss its affairs, finances and accounts with its directors, officers and independent public accountants, at such
reasonable times during normal business hours and as soon as may be reasonably desired, upon reasonable advance notice to the Borrower Representative; provided, however, when an Event of Default exists, the Agent or any Lender may do
any of the foregoing at the expense of the Borrowers at any time during normal business hours and without advance notice. 
 7.5       Insurance. 
 (a)       The Borrowers shall maintain, and shall cause each of their Subsidiaries to maintain, with financially sound and reputable insurers having a rating of at least
A or better by Best Rating Guide, insurance against loss or damage by fire with extended coverage; theft, burglary, pilferage and loss in transit; public liability and third party property damage; larceny, embezzlement or other criminal liability;
business interruption; public liability and third party property damage; and such other hazards or of such other types as is customary 

  
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for Persons engaged in the same or similar business, as the Agent, in its discretion, or acting at the direction of the Required Lenders, shall specify, in amounts, and under policies acceptable
to the Agent and the Required Lenders. Without limiting the foregoing, in the event that any improved Real Estate is determined to be located within an area that has been identified by the Director of the Federal Emergency Management Agency as a
Special Flood Hazard Area (“SFHA”), the Borrowers shall purchase and maintain flood insurance on the improved Real Estate and any Equipment and Inventory located on such Real Estate. The amount of said flood insurance will be
reasonably determined by the Agent, and shall, at a minimum, comply with applicable federal regulations as required by the Flood Disaster Protection Act of 1973, as amended. The Borrowers shall also maintain flood insurance for its Inventory and
Equipment which is, at any time, located in a SFHA. 

(b)       The Borrowers shall cause the Agent, for the ratable
benefit of the Agent and the Lenders, to be named as secured party and sole loss payee on all business interruption insurance policies and all insurance policies covering the Collateral or additional insured, in a manner acceptable to the Agent.
Each policy of insurance shall contain a clause or endorsement requiring the insurer to give not less than thirty (30) days’ prior written notice to the Agent in the event of cancellation of the policy for any reason whatsoever and a
clause or endorsement stating that the interest of the Agent shall not be impaired or invalidated by any act or neglect of the Borrowers or any of their Subsidiaries or the owner of any Real Estate for purposes more hazardous than are permitted by
such policy. All premiums for such insurance shall be paid by the Borrowers when due, and certificates of insurance and, if requested by the Agent or any Lender, photocopies of the policies, shall be delivered to the Agent, in each case in
sufficient quantity for distribution by the Agent to each of the Lenders. If the Borrowers fail to procure such insurance or to pay the premiums therefor when due, the Agent may, and at the direction of the Required Lenders shall, do so from the
proceeds of Revolving Loans. 
 7.6       Insurance and Condemnation
Proceeds. The Borrower Representative shall promptly notify the Agent and the Lenders of any loss, damage, or destruction to the Collateral in excess of $500,000, whether or not covered by insurance. The Agent is hereby authorized to collect all
business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows: 

(i)       With respect to insurance and condemnation proceeds
relating to Collateral and proceeds of business interruption insurance, after deducting from such proceeds the reasonable expenses, if any, incurred by the Agent in the collection or handling thereof, the Agent shall apply such proceeds, ratably, to
the reduction of the Obligations in the order provided for in Section 3.7. 

(ii)       With respect to insurance and condemnation proceeds
relating to Fixed Assets, to the extent not prohibited by the terms of the Term 

  
 36 

 
Loan Agreement, the Borrowers shall use such proceeds, or any part thereof, to replace, repair, restore or rebuild the relevant Fixed Assets in a diligent and expeditious manner with materials
and workmanship of substantially the same quality as existed before the loss, damage or destruction; provided that Borrowers need not comply with the requirements under this clause (ii) to the extent they demonstrate to
Agent’s satisfaction that Borrowers’ remaining Fixed Assets are sufficient for Borrowers to continue producing and processing Inventory in a manner which is substantially similar to the operations of Borrowers existing immediately prior to
the event resulting in insurance and condemnation proceeds being issued. 

7.7       Environmental Laws. 

(a)       Each Borrower shall, and shall cause each of its
Subsidiaries to, conduct its business in compliance in all material respects with all Environmental Laws applicable to it, including those relating to the generation, handling, use, storage, and disposal of any Contaminant. Each Borrower shall, and
shall cause each of its Subsidiaries to, take prompt and appropriate action to respond to any non-compliance with Environmental Laws. 
 (b)       The Agent or any Lender may request copies of technical reports prepared by the Borrowers and their communications with any Governmental Authority to determine
whether a Borrower or any of its Subsidiaries is proceeding reasonably to correct, cure or contest in good faith any alleged non­compliance or environmental liability. 

7.8       Compliance with ERISA. Each Borrower shall, and shall cause each of
its ERISA Affiliates to: (a) maintain each Plan and Foreign Pension Plan in compliance in all material respects with the applicable provisions of ERISA, the Code and other federal or state law (or their foreign equivalents as applicable);
(b) cause each Plan which is qualified under Section 401(a) of the Code to maintain such qualification; (c) make all required contributions to any Plan subject to Sections 412 and 430 of the Code and each Multi-employer Plan;
(d) not engage in a prohibited transaction (for which an exemption is not otherwise available) or violation of the fiduciary responsibility rules with respect to any Plan and Foreign Pension Plan which results in aggregate liabilities to Omnova
and its Subsidiaries in an amount exceeding $5,000,000; and (e) not engage in a transaction that could be subject to Section 4069 or 4212(c) of ERISA. 

7.9       Mergers, Consolidations or Sales. The Borrowers will not, and will
not permit any of their Subsidiaries to, wind up, liquidate or dissolve its affairs or enter into any transaction of merger or consolidation, or convey, sell, lease or otherwise dispose of (or agree to do any of the foregoing at any future time) all
or any part of its property or assets (including, without limitation, any sale, lease, or other disposition, or issuance, of equity interests or securities of a Subsidiary or another Person), or enter into any sale-leaseback transactions (except as
permitted under Section 7.19), except that: 

  
 37 

 (a)       Omnova and its
Subsidiaries may make sales of Cash Equivalents and Inventory in the ordinary course of business; 
 (b)       Omnova and its Subsidiaries may make sales or other dispositions of assets (other than the equity interests of a Borrower); provided that, (i) no
Default or Event of Default shall have occurred and then be continuing immediately before or after giving effect to such sale or disposition, (ii) each such sale or disposition of Accounts and/or Inventory of Borrowers and/or Guarantors results
in consideration of 100% cash in an amount equal to at least the Fair Market Value of such assets (but, to the extent such sale or disposition involves Eligible Accounts or Eligible Inventory, in no event shall the net proceeds received be less than
the amount of Availability generated by such Eligible Accounts and/or Eligible Inventory under the definition of Borrowing Base) and all of such proceeds shall be applied against the outstanding balance of Revolving Loans, (iii) each such sale
or disposition of other assets results in consideration at least 75% of which shall at the time received be in the form of cash (provided that in lieu of cash Omnova may receive, as consideration for the sale of any assets, assets which
Omnova would have been permitted to reinvest in under the terms of Section 4.02(c) of the Term Loan Agreement as in effect on the date hereof if Omnova had received cash consideration), (iv) the aggregate sale proceeds from all assets
subject to such sales shall not exceed the greater of (x) $15,000,000 and (y) 10% of consolidated total assets of Omnova and its Subsidiaries, in each case in any Fiscal Year of Omnova plus, in the case of a sale or disposition of foreign
assets or a Foreign Subsidiary, $100,000,000 in the aggregate after the Closing Date and (v) net proceeds from the sale or disposition of assets (other than Accounts and Inventory of Borrowers and Guarantors) in excess of $15,000,000 are either
applied as provided in Section 4.02(c) of the Term Loan Agreement as in effect on the date hereof or reinvested in assets to the extent permitted by Section 4.02(c) of the Term Loan Agreement as in effect on the date hereof; 

(c)       Capital Expenditures by Omnova and its Subsidiaries shall
be permitted; 
 (d)       Omnova and its Subsidiaries may
sell or otherwise dispose of damaged, obsolete or worn-out assets (excluding Eligible Accounts and Eligible Inventory) that are no longer necessary for the proper conduct of their respective business for Fair Market Value so long as the proceeds
from the sale of any Accounts and Inventory of Borrowers are applied to repay the Revolving Loans; 
 (e)       transactions permitted by Section 7.10 shall be permitted; 

(f)       Omnova and its Subsidiaries may grant leases or subleases
of real property and equipment to other Persons in the ordinary course of business and not materially interfering with the conduct of the business of Omnova and its Subsidiaries taken as a whole; 

  
 38 

 (g)       any Foreign
Subsidiary of Omnova may be sold or transferred to, merged with and into, or be dissolved or liquidated into, or any of its assets or equity interests otherwise sold or transferred to (x) Omnova or (y) any wholly-owned Subsidiary of
Omnova, so long as any security interests granted to the Agent for the benefit of the Lenders pursuant to the Loan Documents in the equity interests of such Foreign Subsidiary shall remain in full force and effect and perfected and enforceable (to
at least the same extent as in effect immediately prior to such merger, consolidation, amalgamation, dissolution, liquidation or transfer) and all actions required to maintain said perfected status have been taken; 

(h)       any Domestic Subsidiary of Omnova may be merged with and
into, or be dissolved or liquidated into, or any of its assets transferred to (x) Omnova or (y) any wholly-owned Domestic Subsidiary of Omnova, so long as (i), in the case of clause (y), such wholly-owned Domestic Subsidiary of Omnova is a
Guarantor and (ii) any security interests granted to the Agent for the benefit of the Lenders pursuant to the Loan Documents in the assets of such Subsidiary shall remain in full force and effect and perfected (to at least the same extent as in
effect immediately prior to such merger, consolidation, dissolution or liquidation) and all actions required to maintain said perfected status have been taken; 

(i)       the Borrowers and the Guarantors may sell or otherwise
transfer assets (other than any real property and other than Accounts and Inventory from a Borrower to a Guarantor) between or among one another, and any Foreign Subsidiary may sell or otherwise transfer assets to another Foreign Subsidiary;

 (j)       each of Omnova and its Subsidiaries may, in the
ordinary course of business, license on a non-exclusive basis patents, trademarks, copyrights and know-how to third Persons, so long as each such license does not prohibit the granting of a Lien by Omnova or such Subsidiary in the intellectual
property covered by such license; 
 (k)       each of
Omnova and its Subsidiaries may liquidate any Inactive Subsidiary; 

(l)       the Borrowers may make sales of Inventory of the Borrowers
to their Foreign Subsidiaries in the ordinary course of business; provided that, (i) no Default or Event of Default shall have occurred and then be continuing immediately before or after giving effect to such sale or transfer,
(ii) any sale shall be for at least Fair Market Value (but, in the event any Eligible Inventory is sold, in no event shall the net proceeds received be less than the amount of Availability generated by such Eligible Inventory under the
definition of Borrowing Base) and result in 100% cash consideration, the net proceeds of which are applied to repay the Revolving Loans; provided, that Borrowers may hold open accounts receivable for such sales (and, to the extent any such
receivable is evidenced by a note in favor of the applicable Borrower, such note shall be pledged to the Agent pursuant to the Pledge Agreement) in amounts equal to at least the Fair Market 

  
 39 

 
Value of such Inventory sold (but, in the event any Eligible Inventory is sold, in no event less than the amount of Availability generated by such Eligible Inventory under the definition of
Borrowing Base) and any repayments on such account receivable or note shall be applied to repay the Revolving Loans; provided, further, that the aggregate accounts receivables outstanding at any one time created after the Closing Date
and generated from such Inventory sales shall not exceed $10,000,000 (and for the avoidance of doubt shall exclude the accounts receivable listed on Schedule 7.9 hereto); 

(m)       the Borrowers may sell or discount Accounts (other than
Eligible Accounts) in the ordinary course of business, but only in connection with the collection or compromise thereof; provided that, (i) no Default or Event of Default shall have occurred and then be continuing immediately before or
after giving effect to such sale or discount and (ii) any such sale or discount shall be for at least Fair Market Value and any net cash proceeds therefrom shall be applied to repay the Revolving Loans; 

(n)       any Foreign Subsidiary may sell or discount accounts in the
ordinary course of business, but only in connection with the collection or compromise thereof; provided that, (i) no Default or Event of Default shall have occurred and then be continuing immediately before or after giving effect to such
sale or discount and (ii) any such sale or discount shall be for at least Fair Market Value. 
 For purposes of clause (iii) of the proviso to clause (b) above, the following shall be deemed to be cash in respect of any sale or disposition: 

(1)       the amount (without duplication) of any liability (other
than any Debt of Omnova or a Guarantor whether outstanding on the Closing Date or thereafter incurred which is subordinated by its terms in right of payment to the Obligations) that would be recorded on a balance sheet prepared in accordance with
GAAP of Omnova or such Subsidiary that is expressly (x) assumed by a Person other than Omnova or a Subsidiary, or (y) expunged by the holder of such liability, and with respect to which, in each case, Omnova or such Subsidiary, as the case
may be, is unconditionally released from further liability with respect thereto; 

(2)       the amount of any obligations or securities received from
such transferee that are within 180 days repaid, converted into or sold or otherwise disposed of for cash or Cash Equivalents (to the extent of the cash or Cash Equivalents actually so received); 

(3)       any contingent earn-out obligation received by Omnova or
any Subsidiary in such asset sale having an aggregate potential payout, taken together with all other contingent earn-out obligations received pursuant to this clause since the Closing Date that are at the time outstanding and held by Omnova or any
Subsidiary, not to exceed $20,000,000 at that time then outstanding (after giving effect to any payment or reduction); and 

  
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 (4)       any Designated
Noncash Consideration received by Omnova or any Subsidiary in such asset sale having an aggregate Fair Market Value, taken together with all other Designated Noncash Consideration received pursuant to this clause since the Closing Date that is at
the time outstanding and held by Omnova or any Subsidiary, not to exceed the greater of (x) $25,000,000 or (y) 5.5% of Consolidated Net Tangible Assets at the time of the receipt of such Designated Noncash Consideration, with the Fair
Market Value of each item of Designated Noncash Consideration being measured at the time received and without giving effect to subsequent changes in value. 
 7.10       Dividends; and Capital Changes. Neither the Borrowers nor any of their Subsidiaries shall (a) directly or indirectly declare or make, or incur any
liability to make, any Dividends or (b) make any change in its capital structure which could have a Material Adverse Effect. Notwithstanding the foregoing: 

(a)       any Subsidiary of Omnova may pay Dividends to
(i) Omnova or (ii) any wholly-owned Subsidiary of Omnova; 

(b)       any non-wholly-owned Subsidiary of Omnova may pay cash
Dividends to its shareholders or equity owners generally so long as Omnova or its respective Subsidiary which owns the equity interest in the Subsidiary paying such Dividends receives at least its proportionate share thereof (based upon its relative
holding of the equity interest in the Subsidiary paying such Dividends and taking into account the relative preferences, if any, of the various classes of equity interests of such Subsidiary); and 

(c)       Omnova may pay cash Dividends so long as (i) no
Default or Event of Default is in existence at such time or would result therefrom, (ii) the amount of such Dividend, when added to the aggregate amount of Dividends made pursuant to this clause (c) after the Closing Date and the aggregate
amounts paid pursuant to Section 7.11 (xiv) and Section 7.11(xvii) after the Closing Date, would not exceed the Permitted Dividend Amount in effect at such time and (iii) Borrowers’ Availability equals an
amount no less than 40% of the aggregate Commitments then in effect after giving effect to such Dividends. 

7.11       Restricted Investments. The Borrowers will not, and will not permit
any of their Subsidiaries to, directly or indirectly, (a) lend money or credit or make advances to any Person, (b) purchase or otherwise acquire (in one or a series of related transactions) any part of the property or assets of any Person
(including, without limitation, any stock, obligations or securities of, or any other interest in, any other Person), but excluding purchases or other acquisitions of inventory, materials and equipment and other real and personal assets (other than
assets constituting, or a Person with assets constituting, a business, or equity interests or securities of a Person with assets constituting a business) used or to be used in the business of the Borrowers and their Subsidiaries, (c) make any
capital contribution to any other Person or (d) purchase or own a futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract (each, a
“Restricted Investment”), except that the following Restricted Investments shall be permitted: 

  
 41 

 (i)       Omnova and its
Subsidiaries may acquire and hold accounts receivables owing to any of them, if created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary terms; 

(ii)       Omnova and its Subsidiaries may acquire and hold cash and
Cash Equivalents; 
 (iii)      Omnova and its Subsidiaries may
(x) make loans and advances in the ordinary course of business to their respective employees so long as the aggregate principal amount thereof at any time outstanding (determined without regard to any write-downs or write-offs of such loans and
advances) shall not exceed $1,000,000 and (y) make loans to members of management to fund their purchase of equity interests of Omnova so long as no cash is paid by Omnova or any of its Subsidiaries in connection therewith (or any cash so paid
is promptly (and in any event within one Business Day) returned to Omnova or such Subsidiary); 

(iv)       the Company and its Subsidiaries may enter into Hedge
Agreements to the extent permitted by Section 7.13; 

(v)       investments in existence on the Closing Date and listed on
Schedule 7.11 shall be permitted, without giving effect to any additions thereto or replacements thereof (provided that intercompany investments listed on Schedule 7.11 may be repaid or redeemed and re-advanced or re-contributed
as new intercompany investments up to the amount of such investments in effect as of the Closing Date); 
 (vi)       (A) any Borrower or any Guarantor may make intercompany loans to any other Borrower or Guarantor, (B) any Subsidiary of Omnova may make intercompany
loans to any Borrower or Guarantor and (C) any Foreign Subsidiary may make intercompany loans to another Foreign Subsidiary (collectively, “Intercompany Loans”); provided, that in the case of (A) and (B) only
(x) each Intercompany Loan shall be evidenced by an Intercompany Note, (y) each Intercompany Note issued to a Borrower or a Guarantor shall be pledged to the Agent pursuant to the Pledge Agreement and (z) each Intercompany Note made
by a Borrower or a Guarantor and issued to a Subsidiary of Omnova that is not a Borrower or Guarantor shall contain subordination provisions reasonably satisfactory to the Agent; 

(vii)       Omnova and its Subsidiaries may make intercompany loans
to, or investments in, any of its Foreign Subsidiaries in the form of cash or Cash Equivalents or in connection with the conversion of an account receivable for Inventory sold pursuant to Section 7.9(l) into an intercompany loan so long
as in each case (A) no Default or Event of Default is in existence at such time or would result therefrom, (B) Borrowers’ Availability equals an amount no less than 40% of the aggregate Commitments then in effect after giving effect
to such intercompany loan or investment and (C) each such intercompany loan shall be evidenced by an Intercompany Note and if such Intercompany Note is issued to a Borrower or a Guarantor, it shall be pledged to the Agent pursuant to the Pledge
Agreement; 

  
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 (viii)       Borrowers
and Guarantors may make equity contributions to the capital of their respective Subsidiaries which are Borrowers and Guarantors; 
 (ix)        Omnova and its Subsidiaries may create or acquire new Subsidiaries to the extent otherwise permitted hereunder; 

(x)         Omnova and its Subsidiaries may transfer
Inventory or Equipment not otherwise reasonably required for the operations of Borrowers and Guarantors to any Foreign Subsidiary so long as (A) no Default or Event of Default is in existence at such time or would result therefrom,
(B) such Foreign Subsidiary pays for such Equipment in cash equal to the Fair Market Value thereof and (C) to the extent such transfer is in respect of Inventory of a Borrower, the provisions of Section 7.9(l) are satisfied;

 (xi)        Omnova and its Subsidiaries shall be
permitted to make Capital Expenditures; 

(xii)       Omnova and its Subsidiaries may enter into transactions
permitted under Section 7.9; 
 (xiii)      Omnova
and its Subsidiaries may enter into guarantees to the extent permitted by Sections 7.12 and 7.13(h); 
 (xiv)      subject to the provisions of this Section 7.11(xiv) and the requirements contained in the definition of Permitted Acquisition, the Borrowers and wholly-owned
Subsidiaries of Omnova may from time to time after Closing Date effect Permitted Acquisitions, so long as (A) all the criteria set forth in the definition of Permitted Acquisition are satisfied, (B) all representations and warranties
contained herein or in the other Loan Documents shall be true and correct in all material respects with the same effect as though such representations and warranties were made on and as of the date of such Permitted Acquisition (both before and
after giving effect thereto), unless stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date, (C) the aggregate consideration for
all Permitted Acquisitions effected after the Closing Date pursuant to this clause (xiv) (excluding Qualified Stock of Omnova (or options or warrants for Qualified Stock of Omnova) issued as consideration for such Permitted Acquisition),
together with the aggregate amount of Dividends and advances, investments and loans made pursuant to Sections 7.10(c) and 7.11(xvii) after the Closing Date, does not exceed the sum of (1) $50,000,000 (less, on a dollar for dollar
basis, the amount of any outstanding advances, loans or investments previously or concurrently made pursuant to Section 7.11(xvii)) plus (2) the Permitted Dividend Amount as in effect at the time of such Permitted Acquisition;
provided that (x) the limitation set forth in this clause (C) shall not apply with respect to the acquisition of a domestic entity or assets of a domestic entity (and consideration for Permitted Acquisitions effected pursuant to
this clause (x) of this proviso shall not be deducted from the foregoing limitation) if, after giving effect to such Permitted Acquisition, the Interest Coverage Ratio for the then most recently ended Fiscal Quarter for which financial
statements have been delivered pursuant to Section 5.2 is greater than 2.00:1.00 determined on a pro forma basis and (y) in the case of any 

  
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Permitted Acquisition which is of foreign entity or assets of a foreign entity, the amount which is available for such Permitted Acquisitions pursuant to this clause (C) shall be increased
by $150,000,000, (D) in the case of acquisitions effected by any Borrower or Guarantor, such Borrower or Guarantor is able to, and does, grant a Lien to the Agent for the benefit of the Lenders on and security interest in assets acquired
thereby in connection with such Permitted Acquisition and (E) the Company shall have delivered to the Agent an officer’s certificate executed by a senior financial officer of Omnova, certifying to the best of his or her knowledge,
compliance with the requirements of preceding clauses (A) through (D); 

(xv)        investments received in connection with the
bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers and suppliers, in each case in the ordinary course of business; 

(xvi)       investments of any Person existing at the time such
Person becomes a Subsidiary of Omnova or at the time such Person merges or consolidates with Omnova or any of its Subsidiaries, in either case, as the result of a Permitted Acquisition in compliance with the terms of this Agreement; provided
that such investments were not made by such Person in connection with, or in anticipation or contemplation of, such Person becoming a Subsidiary of Omnova or such merger or consolidation; 

(xvii)      in addition to the other exceptions set forth in this
Section 7.11, Omnova and its Subsidiaries may make additional Restricted Investments after the Closing Date to the extent not otherwise permitted under this Section 7.11 so long as (A) the aggregate amount of such Restricted
Investments made after the Closing Date, together with all Dividends made pursuant to Section 7.10(c) and cash consideration paid under Section 7.11(xiv) after the Closing Date, shall not exceed the sum of
(1) $50,000,000 (less, on a dollar for dollar basis, the amount of any Permitted Acquisitions previously or concurrently made pursuant to Section 7.11(xiv)) plus (2) the Permitted Dividend Amount as in effect at the time of
such Restricted Investment, (B) no Default or Event of Default is in existence at such time or would result therefrom and (C) Borrowers’ Availability equals an amount no less than 40% of the aggregate Commitments then in effect after
giving effect to such Restricted Investment; 

(xviii)      investments made after May 22, 2007 in the Asian Latex
Businesses in an aggregate amount not to exceed $25,000,000 so long as (A) no Default or Event of Default is in existence at such time or would result therefrom and (B) Borrowers’ Availability equals an amount no less than 40% of the
aggregate Commitments then in effect after giving effect to such investment; and 

(xix)       investments to the extent such investment represents the
non-cash portion of the consideration received in an asset sale as permitted pursuant to Section 7.9(b). 

7.12       Guaranties. Notwithstanding anything to the contrary set forth in
this Agreement, no Borrower nor any of its Subsidiaries shall make, issue, or become liable on any Guaranty, except (a) guaranties of the Obligations, (b) guarantees of the Debt under the Term 

  
 44 

 
Loan Agreement and the Debt under the Senior Notes (to the extent such guarantees are from subsidiaries that guarantee the Obligations), (c) guaranties by the Foreign Subsidiaries of any
Debt permitted under Section 7.13, (d) guaranties by the Borrowers and Guarantors of the obligations of Borrowers and Guarantors and (e) guaranties by the Borrowers and Guarantors of any Foreign Subsidiary not to exceed
$30,000,000 in contingent liabilities in the aggregate at any time outstanding so long as under this clause (e): (i) no Default or Event of Default shall have occurred and then be continuing immediately before or after giving effect to such
incurrence of such guarantee; and (ii) the Leverage Ratio as of the Fiscal Quarter most recently ended for which financial statements have been delivered pursuant to Section 5.2 does not exceed the Permitted Leverage Ratio after
giving pro forma effect to such guarantee. 
 7.13       Debt.
Neither the Borrowers nor any of their Subsidiaries shall incur or maintain any Debt, other than: 
 (a)       Debt incurred pursuant to this Agreement and the other Loan Documents; 

(b)       existing Debt to the extent the same is listed on Schedule
6.9 and Permitted Refinancing Debt in respect of such Debt; 

(c)       Debt evidenced by Capital Lease obligations and purchase
money Debt of Omnova and its Subsidiaries, including any Debt assumed in connection with the acquisition of assets; provided that in no event shall the aggregate principal amount of Capital Lease obligations, and the principal amount of all
such Debt incurred or assumed in each case after the Closing Date, permitted by this clause (c) exceed $20,000,000 at any time outstanding; 

(d)       Intercompany Loans among Omnova and its Subsidiaries to the
extent permitted by Section 7.11; 
 (e)       Debt
under Hedge Agreements of Omnova entered into to protect Omnova against fluctuations in interest rates in respect of Debt under this Agreement, the Term Loan Documents and the Senior Note Documents so long as management of Omnova has determined that
the entering into of such Hedge Agreements are bona fide hedging activities; 

(f)       Debt of Omnova and its Subsidiaries under other Hedging
Agreements entered into in the ordinary course of business providing protection against fluctuations in currency values and/or commodity prices in connection with Omnova’s or any of its Subsidiaries’ operations so long as management of
Omnova or such Subsidiary, as the case may be, has determined that the entering into of such Hedge Agreements are bona fide hedging activities; 

(g)       Debt of the Borrowers and Guarantors arising under the Term
Loan Documents (or any Permitted Refinancing Debt of the Term Loan Agreement) in an aggregate principal amount not to exceed $200,000,000, less the aggregate principal amount of all principal repayments from and after the Closing Date;
provided, that the principal amount thereof may be increased by an 

  
 45 

 
aggregate amount not to exceed the amount permitted under Section 2.15(a)(iv) of the Term Loan Agreement as such Term Loan Agreement is in effect on the date hereof so long as (i) no
Default or Event of Default shall have occurred and then be continuing immediately before or after giving effect to such increase; (ii) after giving pro forma effect to the incurrence of such additional Debt and the use of proceeds thereof,
(x) the Leverage Ratio as of the Fiscal Quarter most recently ended for which financial statements have been delivered pursuant to Section 5.2 does not exceed the Permitted Leverage Ratio and (y) the Interest Coverage Ratio as
of the Fiscal Quarter most recently ended for which financial statements have been delivered pursuant to Section 5.2 would be greater than 2.00:1.00, (iii) the maturity date of such additional Debt shall not be prior to the
scheduled maturity date of the Debt under the Term Loan Agreement as in effect on the date hereof, (iv) the amortization payments in respect of such additional Debt shall be no more than ratable with the amortization payments under the Term
Loan Agreement as in effect on the date hereof, (v) the interest rate margins in respect of such additional Debt shall not be increased by more than 50 basis points over those in effect on the date hereof and (vi) all other terms and
documentation in respect of such additional Debt shall be satisfactory to Agent; 

(h)       any Borrower or Guarantor may become liable as a guarantor
with respect to obligations of any other Borrower or Guarantor, which obligations are not otherwise prohibited under this Agreement; 
 (i)       Debt representing deferred compensation to employees and directors of Omnova or its Subsidiaries; provided that the aggregate principal amount of Debt
permitted by this clause (i) shall not exceed $10,000,000 at any time outstanding; 

(j)       Additional unsecured Debt of Omnova and its Subsidiaries
not otherwise permitted under this Section 7.13 not to exceed $50,000,000 in aggregate principal amount at any one time outstanding so long as (i) no Default or Event of Default shall have occurred and then be continuing immediately
before or after giving effect to such incurrence of Debt, (ii) the Leverage Ratio as of the Fiscal Quarter most recently ended for which financial statements have been delivered pursuant to Section 5.2 does not exceed the Permitted
Leverage Ratio after giving pro forma effect to such Debt and (iii) to the extent such Debt is incurred by the Borrowers or Guarantors, then such Debt shall not amortize by more than 3% of the aggregate principal amount per year or have a
maturity date prior to 180 days after the Stated Termination Date; 

(k)       Debt of a Subsidiary of Omnova acquired after the Closing
Date in connection with a Permitted Acquisition (or Debt assumed at the time of a Permitted Acquisition of an asset securing such Debt); provided that (i) the aggregate principal amount of all such Debt outstanding at any one time
pursuant to this clause (k) shall not exceed (A) $10,000,000 plus (B) an additional amount of Debt if (x) such Debt consists of Permitted Debt and (y) after giving effect to the incurrence of such Permitted Debt and the
respective Permitted Acquisition, 

  
 46 

 
the Interest Coverage Ratio for the then most recently ended Fiscal Quarter for which financial statements have been delivered pursuant to Section 5.2 is greater than 2.00:1.00 after
giving pro forma effect to such Debt; and Permitted Refinancing Debt in respect of any of the foregoing, (ii) no Default or Event of Default shall have occurred and then be continuing immediately before or after giving effect to such incurrence
of such Debt, and (iii) the Leverage Ratio as of the Fiscal Quarter most recently ended for which financial statements have been delivered pursuant to Section 5.2 does not exceed the Permitted Leverage Ratio after giving pro forma
effect to such Debt; 
 (l)       Debt of Subsidiaries that
are not Borrowers or Guarantors from time to time owing to Persons other than a Borrower or Guarantor; provided that (i) the aggregate amount of such Debt under this clause (l) does not exceed $30,000,000 at any one time outstanding
and (ii) the holders of such Debt have no recourse against Borrowers or any Domestic Subsidiaries except to the extent permitted under Section 7.12; 

(m)       Additional unsecured Debt of Omnova and its Subsidiaries
not otherwise permitted under this Section 7.13; provided that (i) after giving effect to the incurrence of such additional Debt, the Interest Coverage Ratio for the then most recently ended Fiscal Quarter for which financial
statements have been delivered pursuant to Section 5.2 is greater than 2.00:1.00 after giving pro forma effect to such Debt; (ii) the aggregate amount of such Debt under this clause (m) that may be incurred by Foreign
Subsidiaries does not exceed $50,000,000 at any one time outstanding and Permitted Refinancing Debt in respect of the foregoing; (iii) no Default or Event of Default shall have occurred and then be continuing immediately before or after giving
effect to such incurrence of such Debt; (iv) the Leverage Ratio as of the Fiscal Quarter most recently ended for which financial statements have been delivered pursuant to Section 5.2 does not exceed the Permitted Leverage Ratio
after giving pro forma effect to such Debt; and (iv) to the extent such Debt is incurred by the Borrowers or Guarantors, then such Debt shall not amortize by more than 3% of the aggregate principal amount per year or have a maturity date prior
to 180 days after the Stated Termination Date; and 

(n)       Debt of the Borrowers and Guarantors arising under the
Senior Note Documents in an aggregate principal amount not to exceed $250,000,000 and Permitted Refinancing Debt in respect of such Debt. 
 7.14       Prepayment. Neither the Borrowers nor any of their Subsidiaries shall voluntarily prepay or redeem any Debt, except (a) the Obligations in
accordance with the terms of this Agreement and (b) the Debt under the Term Loan Agreement to the extent permitted under Section 3.3(a) of this Agreement, subject to the Intercreditor Agreement. Neither the Borrowers nor any of
their Subsidiaries shall prepay Debt under the Term Loan Agreement from excess cash flow unless, after giving effect to any such prepayment Borrowers have Availability of at least $25,000,000. 

  
 47 

 7.15       Transactions with
Affiliates. Except as set forth below and except as otherwise expressly permitted under the terms of this Agreement, neither the Borrowers nor any of their Subsidiaries shall, sell, transfer, distribute, or pay any money or property, including,
but not limited to, any fees or expenses of any nature (including, but not limited to, any fees or expenses for management services), to any Affiliate, or lend or advance money or property to any Affiliate, or invest in (by capital contribution or
otherwise) or purchase or repurchase any stock or indebtedness, or any property, of any Affiliate, or become liable on any Guaranty of the indebtedness, dividends, or other obligations of any Affiliate. Notwithstanding the foregoing, so long as no
Event of Default has occurred and is continuing, the Borrowers and their Subsidiaries may engage in transactions with Affiliates in the ordinary course of business consistent with past practices, in amounts and upon terms fully disclosed to the
Agent and the Lenders, and no less favorable to the Borrowers and their Subsidiaries than would be obtained in a comparable arm’slength transaction with a third party who is not an Affiliate. 

7.16       Investment Banking and Finder’s Fees. Neither the Borrowers
nor any of their Subsidiaries shall pay or agree to pay, or reimburse any other party with respect to, any investment banking or similar or related fee, underwriter’s fee, finder’s fee, or broker’s fee to any Person in connection with
this Agreement. The Borrowers shall jointly and severally defend and indemnify the Agent and the Lenders against and hold them harmless from all claims of any Person that the Borrowers are obligated to pay for any such fees, and all costs and
expenses (including attorneys’ fees) incurred by the Agent and/or any Lender in connection therewith. 

7.17       Business Conducted. The Borrowers shall not and shall not permit
any of their Subsidiaries to, engage in any businesses which are not the same, similar, ancillary, complimentary, incidental or reasonably related to, or reasonable extensions, developments or expansions of, the businesses in which the Borrowers are
engaged on the Closing Date. Notwithstanding anything herein to the contrary, the Borrowers shall not permit Omnova Overseas, Inc. to acquire any assets other than accounts receivable and/or intercompany loans not to exceed $1,000,000 in the
aggregate at any time outstanding. 
 7.18       Liens. Neither the
Borrowers nor any of their Subsidiaries shall create, incur, assume, or permit to exist any Lien on any property now owned or hereafter acquired by any of them, except the following (Liens described below are herein referred to as “Permitted
Liens”): 
 (a)       Liens for taxes, assessments or
governmental charges or levies not yet due and payable or Liens for taxes, assessments or governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves have been established to the extent
required by generally accepted accounting principles, which proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien, in each case unless a notice of a federal tax lien has been sent to the
Borrower or any Guarantor or filed in any public records; 

(b)       Liens in respect of property or assets of Omnova or any of
its Subsidiaries imposed by law, which were incurred in the ordinary course of business and do not secure Debt, such as carriers’, warehousemen’s, 

  
 48 

 
materialmen’s and mechanics’ liens and other similar Liens arising in the ordinary course of business, and (x) which do not in the aggregate materially detract from the value of
Omnova’s or such Subsidiary’s property or assets or materially impair the use thereof in the operation of the business of Omnova or such Subsidiary or (y) which are being contested in good faith by appropriate proceedings, which
proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien; 
 (c)       Liens in existence on the Closing Date which are listed, and the property subject thereto described, on Schedule 6.11, but no renewals or extensions of
such Liens shall be permitted unless (x) the aggregate principal amount of the Debt, if any, secured by such Liens does not increase from that amount outstanding at the time of any such renewal or extension and (y) any such renewal or
extension does not encumber any additional assets or properties of Omnova or any of its Subsidiaries; 
 (d)       Liens created by or pursuant to (x) the Loan Documents and (y) the Term Loan Documents (subject to the terms of the Intercreditor Agreement);

 (e)       leases or subleases of real property granted to
other Persons in the ordinary course of business not materially interfering with the conduct of the business of Omnova or any of its Subsidiaries; 

(f)       Liens upon assets subject to Capital Leases or purchase
money debt to the extent permitted by Section 7.13(c); provided that (x) such Liens only serve to secure the payment of Debt arising under such Capital Leases or purchase money Debt and (y) the Lien encumbering the asset
giving rise to the Capital Leases or purchase money Debt does not encumber any other asset of Omnova or any of its Subsidiaries; 
 (g)       Liens placed upon assets (including Real Property) at the time of acquisition or construction thereof by Omnova or any such Subsidiary or within 90 days
thereafter to secure Debt incurred to pay all or a portion of the purchase price or construction costs thereof and extensions, renewals or replacements of any of the foregoing; provided that, in either case, (x) the aggregate outstanding
principal amount of all Debt secured by Liens permitted by this clause (g) shall not at any time exceed the amount permitted under Section 7.13(c) and (y) in all events, the Lien encumbering the assets so acquired does not
encumber any other asset of the Company or any of its Subsidiaries; 

(h)       any Lien existing on any property or asset prior to the
acquisition thereof by Omnova or any of its Subsidiaries or existing on any property or asset of any Person that becomes a Subsidiary of Omnova after the date hereof prior to the time such Person becomes a Subsidiary of Omnova; provided that
(i) such Lien was not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary of Omnova, as the case may be, (ii) such Lien 

  
 49 

 
shall not apply to any other property or assets of Omnova or any of its Subsidiaries and (iii) such Lien shall secure only those obligations which it secures on the date of such acquisition
or the date such Person becomes a Subsidiary of the Company; 

(i)       easements, rights-of-way, restrictions, encroachments and
other similar charges or encumbrances, and minor title deficiencies, in each case not materially interfering with the conduct of the business of Omnova or any of its Subsidiaries; 

(j)       statutory and common law landlords’ liens under leases
to which the Company or any of its Subsidiaries is a party; provided that no Eligible Inventory shall be subject to such liens; 
 (k)       Liens incurred or deposits made in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other types of
social security, or to secure the performance of tenders, statutory obligations, surety bonds (other than appeal bonds), bids, government contracts, performance and return-of-money bonds and other similar obligations incurred in the ordinary course
of business (exclusive of obligations in respect of the payment for borrowed money); 

(l)       normal and customary rights of setoff upon deposits of cash
in favor of Lenders and other depositary institutions; 

(m)       any (x) interest or title of a lessor or sublessor
(other than a Borrower or Guarantor) under any lease entered into by Omnova or any of its Subsidiaries as lessee to the extent that such lease is permitted to be entered into pursuant to this Agreement, (y) restriction or encumbrance to which
the interest or title of such lessor or sublessor may be subject (including, without limitation, ground leases and other prior leases of the premises, mortgages, mechanics liens, tax liens and easements) or (z) subordination of the interest of
the lessee or sublessee under any such lease to any restriction or encumbrance referred to in the preceding clause (y); 
 (n)       Liens on the assets of Foreign Subsidiaries securing Debt of such Foreign Subsidiaries permitted under Section 7.13; 

(o)       Liens not otherwise permitted pursuant to this
Section 7.18 which secure obligations permitted under this Agreement not exceeding, in the aggregate at any one time outstanding, the greater of (x) $50,000,000 and (y) 11.2% of Consolidated Net Tangible Assets as of the time
of incurrence; provided, that if any such Liens are on assets of any Borrower or any of their Domestic Subsidiaries, such Liens shall be subordinated to the Agent’s Liens pursuant to a subordination agreement that is on terms and
conditions satisfactory to Agent in its sole discretion; and 

  
 50 

 (p)       Liens arising
from judgments and attachments in connection with court proceedings provided that the attachment or enforcement of such Liens would not result in an Event of Default hereunder and such Liens are being contested in good faith by appropriate
proceedings, adequate reserves have been set aside and no material property is subject to a material risk of loss or forfeiture and the claims in respect of such Liens are fully covered by insurance (subject to ordinary and customary deductibles)
and a stay of execution pending appeal or proceeding for review is in effect. 

7.19       Sale and Leaseback Transactions. Neither the Borrowers nor any of
their Subsidiaries shall, directly or indirectly, enter into any arrangement with any Person providing for such Borrower or Subsidiary to lease or rent property that such Borrower or Subsidiary has sold or will sell or otherwise transfer to such
Person. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrowers and their Subsidiaries may enter into sale and leaseback transactions of Fixed Assets with an aggregate value not to exceed $10,000,000
in a single transaction or series of related transactions and not to exceed $20,000,000 in the aggregate in any Fiscal Year. 
 7.20       New Subsidiaries. The Borrowers shall not, directly or indirectly, organize, create, acquire or permit to exist any Subsidiary other than
(a) those listed on Schedule 6.5, (b) any Person acquired pursuant to a Permitted Acquisition and (c) other Subsidiaries so long as the provisions of Section 7.30 herein are satisfied. 

7.21       Fiscal Year. The Borrowers and their Subsidiaries shall not change
their Fiscal Year; provided, that Eliokem and any Foreign Subsidiary may change their respective fiscal years to match the Fiscal Year of Omnova. 
 7.22       Transactions Affecting Collateral or Obligations. Neither the Borrowers nor any of their Subsidiaries shall enter into any transaction which would be
reasonably expected to have a Material Adverse Effect 
 7.23       Fixed
Charge Coverage Ratio. Whenever average Availability for any Fiscal Quarter is less than $25,000,000, the Borrowers and their Subsidiaries on a consolidated basis shall maintain a Fixed Charge Coverage Ratio for each period of four consecutive
Fiscal Quarters (or, for any Fiscal Quarter ending on or prior to November 30, 2011, the period commencing on the Closing Date and ending on the last day of such Fiscal Quarter) tested on the last day of each Fiscal Quarter (commencing with the
Fiscal Quarter in which average Availability was less than $25,000,000) of not less than 1.1 to 1.0. Such testing shall continue until average daily Availability in any subsequent Fiscal Quarter is at least $25,000,000. 

7.24       [Intentionally Omitted]. 

7.25       Use of Proceeds. The Borrowers shall not, and shall not suffer or
permit any Subsidiary to, use any portion of the Loan proceeds, directly or indirectly, (i) to purchase or carry Margin Stock, (ii) to repay or otherwise refinance indebtedness of the Borrowers or others incurred to purchase or carry
Margin Stock, (iii) to extend credit for the purpose of purchasing or 

  
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 carrying any Margin Stock, or (iv) to acquire any security in any transaction that is
subject to Section 13 or 14 of the Exchange Act. 

7.26       Amendments to Agreements. Borrowers shall not, nor shall permit
their Subsidiaries to, amend or otherwise modify the Term Loan Documents, the Senior Note Documents, the Acquisition Documents or the documents evidencing any other Debt, if such amendment or modification would be adverse to the interests of Agent
and Lenders under the Loan Documents or would be prohibited by the Intercreditor Agreement or any subordination agreement entered into in connection with any such Debt. 

7.27       [Intentionally Omitted]. 

7.28       Bank Accounts. The Borrowers shall not maintain any bank accounts
except as set forth on Schedule 6.27 unless Borrower Representative first provides Agent with ten (10) business Days prior written notice of a Borrower’s intent to open a new bank account and, if requested by Agent, provides Agent with a
blocked account agreement, in form and substance satisfactory to Agent, duly executed by the applicable Borrower and the financial institution where such account has been opened. 

7.29     Post-Closing Obligations. No later than 30 days following the Closing Date,
unless otherwise extended by the Agent in its sole discretion, the Borrowers will deliver to Agent: 
 (a)       executed blocked account agreements with respect to Eliokem’s depository accounts at PNC Bank, in form and substance reasonably satisfactory to Agent;

 (b)       using commercially reasonable efforts, executed
landlord waivers in respect of Omnova’s leased locations at 1609 Rocky River Road, North Monroe, North Carolina, and 175 Ghent Road, Fairlawn, Ohio, in form and substance reasonably satisfactory to Agent; 

(c)       executed local counsel opinions in respect of each
mortgage, deed of trust and pledge agreement (for the equity in Omnova Holdings (Gibraltar) Limited) executed on the Closing Date, from counsels, and in form and substance, reasonably satisfactory to Agent; 

(d)       evidence that Borrowers have satisfied the insurance
requirements of Section 7.5; and 
 (e)       an
updated Schedule 6.27 listing all applicable bank accounts as required by Section 6.27. 

7.30     Further Assurances. 

(a)       Subject to applicable law, each Borrower and each
Subsidiary shall cause each of its Domestic Subsidiaries formed or acquired after the date of this Agreement in accordance with the terms of this Agreement to become a Borrower 

  
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or Guarantor, as Agent shall determine, by executing such joinder agreements and other documents as Agent shall require. Upon execution and delivery thereof, each such new Subsidiary
(i) shall automatically become a Borrower or Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Agent, for the
benefit of the Agent and the Lenders, in any property of such Person which constitutes Collateral, including any parcel of real property located in the U.S. owned by such Person. 

(b)       Each Borrower and each Subsidiary that is a Guarantor will
cause (i) 100% of the issued and outstanding equity interests of each of its Domestic Subsidiaries (other than a Foreign Holdco) and (ii) 65% of the issued and outstanding equity interests entitled to vote (within the meaning of Treas.
Reg. Section 1.956-2(c)(2)) and 100% of the issued and outstanding equity interests not entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2) in each foreign Subsidiary directly owned by the Borrower or any Domestic
Subsidiary to be subject at all times to a first priority, perfected Lien (subject to the Intercreditor Agreement) in favor of the Agent pursuant to the terms and conditions of the Loan Documents or other security documents as the Agent shall
reasonably request. 
 (c)       Without limiting the
foregoing, each Borrower will, and will cause each Subsidiary to, execute and deliver, or cause to be executed and delivered, to the Agent such documents, agreements and instruments, and will take or cause to be taken such further actions (including
the filing and recording of financing statements, fixture filings, mortgages, deeds of trust and other documents and such other actions or deliveries of the type required on the Closing Date), which may be required by law or which the Agent may,
from time to time, reasonably request to carry out the terms and conditions of this Agreement and the other Loan Documents and to ensure perfection and priority of the Liens created or intended to be created by the Loan Documents, all at the expense
of the Borrowers; provided that in the case of any Foreign Holdco, recourse on any guarantee by such Foreign Holdco shall be limited to the Collateral pledged by such Foreign Holdco. 

(d)       If any material assets (including any real property or
improvements thereto or any interest therein) are acquired by any Borrower or any Domestic Subsidiary after the Closing Date (other than assets constituting Collateral under the Security Agreement that become subject to the Lien in favor of the
Agent upon acquisition thereof), the Borrower Representative will notify the Agent and the Lenders thereof, and, if requested by the Agent or the Required Lenders, the Borrowers will cause such assets to be subjected to a Lien securing the
Obligations and will take, and cause each Domestic Subsidiary to take, such actions as shall be necessary or reasonably requested by the Agent to grant and perfect such Liens, including actions described in paragraph (c) of this Section, all at
the expense of the Borrowers. 

  
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 (e)       Notwithstanding anything
herein to the contrary, Omnova Overseas, Inc, shall not be a Guarantor unless otherwise approved by Omnova. 
 ARTICLE 8

 CONDITIONS OF LENDING 
 8.1       Conditions Precedent to Making of Loans on the Closing Date. The obligation of the Lenders to make the initial Revolving Loans on the Closing Date, and
the obligation of the Agent to cause the Letter of Credit Issuer to issue any Letter of Credit on the Closing Date, are subject to the following conditions precedent having been satisfied prior to or concurrently with the making of such Loans in a
manner satisfactory to the Agent and each Lender: 

(a)       This Agreement and the other Loan Documents shall have been
executed and delivered by each party thereto and the Borrowers and their Subsidiaries shall have performed and complied with all covenants, agreements and conditions contained herein and the other Loan Documents which are required to be performed or
complied with by the Borrowers and their Subsidiaries before or on such Closing Date. 

(b)       All representations and warranties made hereunder and in
the other Loan Documents shall be true and correct as if made on such date. 

(c)       No Default or Event of Default shall have occurred and be
continuing after giving effect to the Loans to be made and the Letters of Credit to be issued on the Closing Date. 
 (d)       The Agent and the Lenders shall have received such opinions of counsel for the Borrowers and their Subsidiaries as the Agent or any Lender shall request, each
such opinion to be in a form, scope, and substance satisfactory to the Agent, the Lenders, and their respective counsel. 
 (e)       The Agent shall have received 
 (i)       acknowledgment copies of proper financing statements, duly filed on or before the Closing Date under the UCC of all jurisdictions that the Agent may deem
necessary or desirable in order to perfect the Agent’s Liens; and 

(ii)       duly executed UCC-3 Termination Statements and such other
instruments, in form and substance satisfactory to the Agent, as shall be necessary to terminate and satisfy all Liens on the assets of the Borrowers and their Subsidiaries except Permitted Liens. 

(f)       The Borrowers shall have paid all fees and expenses of the
Agent and the Attorney Costs incurred in connection with any of the Loan Documents and the transactions contemplated thereby to the extent invoiced. 

  
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 (g)       The Agent
shall have received evidence, in form, scope, and substance, reasonably satisfactory to the Agent, of all insurance coverage as required by this Agreement. 

(h)       The Agent and the Lenders shall have had an opportunity, if
they so choose, to examine the books of account and other records and files of the Borrowers and to make copies thereof, and to conduct a pre-closing audit which shall include, without limitation, verification of Inventory, Accounts, and the
Borrowing Base, and the results of such examination and audit shall have been satisfactory to the Agent and the Lenders in all respects. 
 (i)      All proceedings taken in connection with the execution of the Loan Documents, the Term Loan Documents, the Senior Note Documents, the Acquisition Documents and all
documents, agreements and instruments relating thereto shall be satisfactory in form, scope, and substance to the Agent and the Lenders. 
 (j)       The Agent shall have received evidence satisfactory to it that the Borrowers received at least $200,000,000 in loan proceeds (less applicable original issue
discount) pursuant to the Term Loan Documents and at least $250,000,000 in loan proceeds (less applicable original issue discount) pursuant to the Senior Note Documents, in each case which shall be in form and substance satisfactory to Agent.

 (k)       The Acquisition Documents shall be in full
force and effect and concurrently with the funding of the Loans hereunder, the Acquisition shall have been consummated in accordance with the terms of the Acquisition Documents, and the Acquisition Documents shall not have been altered, amended or
otherwise changed or supplemented or any provision or condition therein waived, and Omnova shall not have consented to any action which would require the consent of Omnova under the Acquisition Agreement, if such alteration, amendment, change,
supplement, waiver or consent would be adverse to the interests of the Agent or Lenders in any material respect, in any such case without the prior written consent of the Agent. The Agent shall have received, or shall receive concurrently, copies of
duly completed, executed and dated share transfer forms (ordres de mouvement) and related tax transfer forms (formulaire Cerfa n°2759) in respect of the transfer of all, and not less than all, of the Acquired Securities (as defined
in the Acquisition Agreement) or other confirmation satisfactory to the Agent of the consummation of the Acquisition. 
 (l)       All governmental and third party approvals necessary in connection with the consummation of the transactions contemplated by the Acquisition Documents, the
Term Loan Documents, the Senior Note Documents and the Loan Documents and the continuing operations of the Borrowers and their subsidiaries (including shareholder approvals, if any) shall have been obtained on satisfactory terms and shall be in full
force and effect, and all applicable waiting periods shall have expired without any action being taken or threatened by any 

  
 55 

 
competent authority that would restrain, prevent or otherwise impose adverse conditions on any of the transactions contemplated hereby. 

(m)       The Acquired Business Existing Indebtedness shall have been
paid in full and all Liens securing such Debt shall have been terminated or released. 

(n)       On the Closing Date and immediately prior to giving effect
to the Acquisition, the representations and warranties with respect to the Acquired Business and its Subsidiaries shall be true and correct to the extent required by the condition set forth in Section 5.3.3 of the Acquisition Agreement.

 (o)       Without limiting the generality of the items
described above, the Agent shall have received (in form and substance reasonably satisfactory to the Agent) the financial statements, instruments, resolutions, documents, agreements, certificates, opinions and other items set forth on the
“Closing Checklist” delivered by the Agent to the Borrowers prior to the Closing Date. 
 The
acceptance by the Borrowers of any Loans made or Letters of Credit issued on the Closing Date shall be deemed to be a representation and warranty made by the Borrowers to the effect that all of the conditions precedent to the making of such Loans or
the issuance of such Letters of Credit have been satisfied, with the same effect as delivery to the Agent and the Lenders of a certificate signed by a Responsible Officer of each Borrower, dated the Closing Date, to such effect. 

Execution and delivery to the Agent by a Lender of a counterpart of this Agreement shall be deemed confirmation by such
Lender that (i) all conditions precedent in this Section 8.1 have been fulfilled to the satisfaction of such Lender, (ii) the decision of such Lender to execute and deliver to the Agent an executed counterpart of this Agreement
was made by such Lender independently and without reliance on the Agent or any other Lender as to the satisfaction of any condition precedent set forth in this Section 8.1, and (iii) all documents sent to such Lender for approval
consent, or satisfaction were acceptable to such Lender. 

8.2       Conditions Precedent to Each Loan. The obligation of the Lenders to
make each Loan, including the initial Revolving Loans on the Closing Date, and the obligation of the Agent to cause the Letter of Credit Issuer to issue any Letter of Credit shall be subject to the further conditions precedent that on and as of the
date of any such extension of credit: 
 (a)       The
following statements shall be true, and the acceptance by the Borrowers of any extension of credit shall be deemed to be a statement to the effect set forth in clauses (i), (ii) and (iii) with the same effect as the
delivery to the Agent and the Lenders of a certificate signed by a Responsible Officer, dated the date of such extension of credit, stating that: 

(i)      The representations and warranties contained in this Agreement
and the other Loan Documents are correct in all material respects on and as of the date of such extension of credit as though made on and as of such date, other than any such representation or warranty which relates to a specified prior date and
except to the extent the Agent and the Lenders have been notified 

  
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in writing by the Borrower Representative that any representation or warranty is not correct and the Required Lenders have explicitly waived in writing compliance with such representation or
warranty; and 
 (ii)       No event has occurred and is
continuing, or would result from such extension of credit, which constitutes a Default or an Event of Default; and 
 (iii)      No event has occurred and is continuing, or would result from such extension of credit, which has had or would have a Material Adverse Effect. 

(b)      No such Borrowing shall exceed Availability, provided, however,
that the foregoing conditions precedent are not conditions to each Lender participating in or reimbursing the Bank or the Agent for such Lenders’ Pro Rata Share of any Swing Line Loan or Agent Advance made in accordance with the provisions of
Sections 1.3 and 1.2(i). 
 ARTICLE 9 
 DEFAULT; REMEDIES 

9.1       Events of Default. It shall constitute an event of default
(“Event of Default”) if any one or more of the following shall occur for any reason: 
 (a)       any failure by the Borrowers to pay the principal of or interest or premium on any of the Obligations or any fee or other amount owing hereunder when due,
whether upon demand or otherwise; 
 (b)       any
representation or warranty made or deemed made by the Borrowers in this Agreement or by the Borrowers or any of their Subsidiaries in any of the other Loan Documents, any Financial Statement, or any certificate furnished by the Borrowers or any of
their Subsidiaries at any time to the Agent or any Lender shall prove to be untrue in any material respect as of the date on which made, deemed made, or furnished; 

(c)       (i) any default shall occur in the observance or
performance of any of the covenants and agreements contained in Sections 5.2(k), 7.2, 7.5, 7.9-7.28 of this Agreement, or Section 11 of the Security Agreement, (ii) any default shall occur in the observance or
performance of any of the covenants and agreements contained in Sections 5.2 (other than 5.2(k)) or 5.3 and such default shall continue for five (5) days or more; or (iii) any default shall occur in the observance or performance of
any of the other covenants or agreements contained in any other Section of this Agreement or any other Loan Document, or any other agreement entered into at any time to which a Borrower or any Subsidiary and the Agent or any Lender are party
(including in respect of any Bank Products) and such default shall continue for fifteen (15) days or more; 

  
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 (d)       any default
shall occur with respect to any Debt (other than the Obligations) of the Borrowers or any of their Subsidiaries in an outstanding principal amount which exceeds $5,000,000, or under any agreement or instrument under or pursuant to which any such
Debt may have been issued, created, assumed, or guaranteed by the Borrowers or any of their Subsidiaries, and such default shall continue for more than the period of grace, if any, therein specified, if the effect thereof (with or without the giving
of notice or further lapse of time or both) is to accelerate, or to permit the holders of any such Debt to accelerate, the maturity of any such Debt; or any such Debt shall be declared due and payable or be required to be prepaid (other than by a
regularly scheduled required prepayment) prior to the stated maturity thereof; 

(e)       a Borrower or any of its Subsidiaries shall (i) file a
voluntary petition in bankruptcy or file a voluntary petition or an answer or otherwise commence any action or proceeding seeking reorganization, arrangement or readjustment of its debts or for any other relief under the federal Bankruptcy Code, as
amended, or under any other bankruptcy or insolvency act or law, state or federal (or any foreign equivalent laws), now or hereafter existing, or consent to, approve of, or acquiesce in, any such petition, action or proceeding; (ii) apply for
or acquiesce in the appointment of a receiver, assignee, liquidator, sequestrator, custodian, monitor, trustee or similar officer for it or for all or any part of its property; (iii) make an assignment for the benefit of creditors; or
(iv) be unable generally to pay its debts as they become due; 

(f)       an involuntary petition shall be filed or an action or
proceeding otherwise commenced seeking reorganization, arrangement, consolidation or readjustment of the debts of a Borrower or any of its Subsidiaries or for any other relief under the federal Bankruptcy Code, as amended, or under any other
bankruptcy or insolvency act or law, state or federal (or any foreign equivalent laws), now or hereafter existing and such petition or proceeding shall not be dismissed within thirty (30) days after the filing or commencement thereof or an
order of relief shall be entered with respect thereto; 

(g)       a receiver, assignee, liquidator, sequestrator, custodian,
monitor, trustee or similar officer for a Borrower or any of its Subsidiaries or for all or any part of its property with a book value in excess of $500,000 shall be appointed or a warrant of attachment, execution or similar process shall be issued
against any part of the property with a book value in excess of $500,000 of a Borrower or any of its Subsidiaries; 
 (h)       a Borrower or any of its Subsidiaries shall file a certificate of dissolution under applicable state law or shall be liquidated, dissolved or wound-up or shall
commence or have commenced against it any action or proceeding for dissolution, winding-up or liquidation, or shall take any corporate action in furtherance thereof; 

  
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 (i)       all or any
material part of the property of a Borrower or any of its Subsidiaries shall be nationalized, expropriated or condemned, seized or otherwise appropriated, or custody or control of such property or of such Borrower or Subsidiary shall be assumed by
any Governmental Authority or any court of competent jurisdiction at the instance of any Governmental Authority, except where contested in good faith by proper proceedings diligently pursued where a stay of enforcement is in effect; 

(j)        any Loan Document shall be terminated, revoked or
declared void or invalid or unenforceable or challenged by a Borrower or any other obligor; 

(k)       one or more judgments, orders, decrees or arbitration
awards is entered against a Borrower or any of its Subsidiaries involving in the aggregate liability (to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage) as to any single or related or
unrelated series of transactions, incidents or conditions, of $2,000,000 or more, and the same shall remain unsatisfied, unvacated and unstayed pending appeal for a period of thirty (30) days after the entry thereof; 

(l)        any loss, theft, damage or destruction of any item or
items of Collateral or other property of a Borrower or any Subsidiary occurs which could reasonably be expected to cause a Material Adverse Effect and is not adequately covered by insurance; 

(m)      there is filed against a Borrower or any of its Subsidiaries any
action, suit or proceeding under any federal or state racketeering statute (including the Racketeer Influenced and Corrupt Organization Act of 1970), which action, suit or proceeding (i) is not dismissed within one hundred twenty
(120) days, and (ii) could reasonably be expected to result in the confiscation or forfeiture of any material portion of the Collateral; 

(n)       for any reason other than the failure of the Agent to take
any action available to it to maintain perfection of the Agent’s Liens, pursuant to the Loan Documents, any Loan Document ceases to be in full force and effect or any Lien with respect to any material portion of the Collateral intended to be
secured thereby ceases to be, or is not, valid, perfected and prior to all other Liens (other than Permitted Liens) or is terminated, revoked or declared void; 

(o)       (i) an ERISA Event shall occur with respect to a
Pension Plan or Multi-employer Plan which has resulted or could reasonably be expected to result in liability of the Borrowers under Title IV of ERISA to the Pension Plan, Multi-employer Plan or the PBGC in an aggregate amount in excess of
$1,000,000; (ii) [intentionally deleted]; or (iii) a Borrower or any ERISA Affiliate shall fail to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under
Section 4201 of ERISA under a Multi-employer Plan in an aggregate amount in excess of $1,000,000; or 

  
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 (p)       there occurs a
Change of Control. 
 9.2       Remedies. 

(a)       If a Default or an Event of Default exists, the Agent may,
in its discretion, and shall, at the direction of the Required Lenders, do one or more of the following at any time or times and in any order, without notice to or demand on the Borrowers: (i) reduce the Maximum Revolver Amount, or the advance
rates against Eligible Accounts and/or Eligible Inventory used in computing the Borrowing Base, or reduce one or more of the other elements used in computing the Borrowing Base; (ii) restrict the amount of or refuse to make Revolving Loans; and
(iii) restrict or refuse to provide Letters of Credit or Credit Support. If an Event of Default exists, the Agent may, in its discretion, and shall, at the direction of the Required Lenders, do one or more of the following, in addition to the
actions described in the preceding sentence, at any time or times and in any order, without notice to or demand on the Borrowers: (A) terminate the Commitments and this Agreement; (B) declare any or all Obligations to be immediately due
and payable; provided, however, that upon the occurrence of any Event of Default described in Sections 9.1(e), 9.1(f), 9.1(g), or 9.1(h), the Commitments shall automatically and immediately expire and all
Obligations shall automatically become immediately due and payable without notice or demand of any kind; (C) require the Borrowers to cash collateralize all outstanding Letter of Credit Obligations; and (D) pursue its other rights and
remedies under the Loan Documents and applicable law. 

(b)       If an Event of Default has occurred and is continuing:
(i) the Agent shall have for the benefit of the Lenders, in addition to all other rights of the Agent and the Lenders, the rights and remedies of a secured party under the Loan Documents and the UCC; (ii) the Agent may, at any time, take
possession of the Collateral and keep it on the Borrowers’ premises, at no cost to the Agent or any Lender, or remove any part of it to such other place or places as the Agent may desire, or the Borrowers shall, upon the Agent’s demand, at
the Borrowers’ cost, assemble the Collateral and make it available to the Agent at a place reasonably convenient to the Agent; and (iii) the Agent may sell and deliver any Collateral at public or private sales, for cash, upon credit or
otherwise, at such prices and upon such terms as the Agent deems advisable, in its sole discretion, and may, if the Agent deems it reasonable, postpone or adjourn any sale of the Collateral by an announcement at the time and place of sale or of such
postponed or adjourned sale without giving a new notice of sale. Without in any way requiring notice to be given in the following manner, the Borrowers agree that any notice by the Agent of sale, disposition or other intended action hereunder or in
connection herewith, whether required by the UCC or otherwise, shall constitute reasonable notice to the Borrowers if such notice is mailed by registered or certified mail, return receipt requested, postage prepaid, or is delivered personally
against receipt, at least ten (10) Business Days prior to such action to the Borrowers’ address specified in or pursuant to Section 13.8. If any Collateral is sold on terms other than payment in full at the time of sale, no
credit shall be 

  
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given against the Obligations until the Agent or the Lenders receive payment, and if the buyer defaults in payment, the Agent may resell the Collateral without further notice to the Borrowers. In
the event the Agent seeks to take possession of all or any portion of the Collateral by judicial process, the Borrowers irrevocably waive: (A) the posting of any bond, surety or security with respect thereto which might otherwise be required;
(B) any demand for possession prior to the commencement of any suit or action to recover the Collateral; and (C) any requirement that the Agent retain possession and not dispose of any Collateral until after trial or final judgment. The
Borrowers agree that the Agent has no obligation to preserve rights to the Collateral or marshal any Collateral for the benefit of any Person. The Agent is hereby granted a license or other right to use, without charge, the Borrowers’ labels,
patents, copyrights, name, trade secrets, trade names, trademarks, and advertising matter, or any similar property, in completing production of, advertising or selling any Collateral, and the Borrowers’ rights under all licenses and all
franchise agreements shall inure to the Agent’s benefit for such purpose. The proceeds of sale shall be applied first to all expenses of sale, including Attorney Costs, and then to the Obligations. The Agent will return any excess to the
Borrowers and the Borrowers shall remain liable for any deficiency. 

(c)       If an Event of Default occurs, the Borrowers hereby waive
all rights to notice and hearing prior to the exercise by the Agent of the Agent’s rights to repossess the Collateral without judicial process or to reply, attach or levy upon the Collateral without notice or hearing. 

ARTICLE 10 

TERM AND TERMINATION 
 10.1       Term and Termination. The term of this Agreement shall end on the Stated Termination Date unless sooner terminated in accordance with the terms hereof.
The Agent may, in its discretion, and shall, upon direction from the Required Lenders, terminate this Agreement without notice upon the occurrence of an Event of Default. Upon the effective date of termination of this Agreement for any reason
whatsoever, all Obligations (including all unpaid principal, accrued and unpaid interest and any early termination or prepayment fees or penalties) shall become immediately due and payable and the Borrowers shall immediately arrange for the
cancellation and return of Letters of Credit then outstanding. Notwithstanding the termination of this Agreement, until all Obligations are indefeasibly paid and performed in full in cash, the Borrowers shall remain bound by the terms of this
Agreement and shall not be relieved of any of its Obligations hereunder or under any other Loan Document, and the Agent and the Lenders shall retain all their rights and remedies hereunder (including the Agent’s Liens in and all rights and
remedies with respect to all then existing and after-arising Collateral). 
 ARTICLE 11 

AMENDMENTS; WAIVERS; PARTICIPATIONS; ASSIGNMENTS; SUCCESSORS 

11.1       Amendments and Waivers. 

  
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 (a)      No amendment or
waiver of any provision of this Agreement or any other Loan Document, and no consent with respect to any departure by the Borrowers therefrom, shall be effective unless the same shall be in writing and signed by the Required Lenders (or by the Agent
at the written request of the Required Lenders) and the Borrowers and then any such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such
waiver, amendment, or consent shall, unless in writing and signed by all the Lenders and the Borrowers and acknowledged by the Agent, do any of the following: 

(i)       increase or extend the Commitment of any Lender;

 (ii)       postpone or delay any date fixed by this
Agreement or any other Loan Document for any payment of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document; 

(iii)       reduce the principal of, or the rate of interest
specified herein on any Loan, or any fees or other amounts payable hereunder or under any other Loan Document; 
 (iv)       change the percentage of the Commitments or of the aggregate unpaid principal amount of the Loans which is required for the Lenders or any of them to take any
action hereunder; 
 (v)       increase any of the
percentages set forth in the definition of the Borrowing Base; 

(vi)       amend this Section or any provision of this Agreement
providing for consent or other action by all Lenders; 

(vii)       release any Guaranties of the Obligations or release
Collateral other than as permitted by Section 12.11; 

(viii)       change the definitions of “Required Lenders”;
or 
 (ix)       increase the Maximum Revolver Amount, the
Maximum Inventory Loan Amount, and Letter of Credit Subfacility; 
 provided, however, the Agent may, in its sole discretion and
notwithstanding the limitations contained in clauses (v) and (ix) above and any other terms of this Agreement, make Agent Advances in accordance with Section 1.2(i) and, provided further, that no
amendment, waiver or consent shall, unless in writing and signed by the Agent, affect the rights or duties of the Agent under this Agreement or any other Loan Document and provided further, that Schedule 1.2 hereto (Commitments) may be
amended from time to time by Agent alone to reflect assignments of Commitments in accordance herewith. 

  
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 (b)       If any fees
are paid to the Lenders as consideration for amendments, waivers or consents with respect to this Agreement, at Agent’s election, such fees may be paid only to those Lenders that agree to such amendments, waivers or consents within the time
specified for submission thereof. 
 (c)       If, in
connection with any proposed amendment, waiver or consent (a “Proposed Change”) requiring the consent of all Lenders, the consent of Required Lenders is obtained, but the consent of other Lenders is not obtained (any such Lender
whose consent is not obtained being referred to as a “Non-Consenting Lender”), 
 then, so long as the Agent is not a
Non-Consenting Lender, at the Borrowers’ request, the Agent or an Eligible Assignee shall have the right (but not the obligation) with the Agent’s approval, to purchase from the Non-Consenting Lenders, and the Non-Consenting Lenders agree
that they shall sell, all the Non-Consenting Lenders’ Commitments for an amount equal to the principal balances thereof and all accrued interest and fees with respect thereto through the date of sale pursuant to Assignment and Acceptance
Agreement(s), without premium or discount. 
 11.2      Assignments;
Participations. 
 (a)       Any Lender may, with the
written consent of the Agent and Borrower Representative (which consent shall not be unreasonably withheld), assign and delegate to one or more Eligible Assignees (provided that no consent of the Agent or Borrowers shall be required in connection
with any assignment and delegation by a Lender to an Affiliate of such Lender or to another Lender) (each an “Assignee”) all, or any ratable part of all, of the Loans, the Commitments and the other rights and obligations of such
Lender hereunder, in a minimum amount of $5,000,000 (provided that, unless an assignor Lender has assigned and delegated all of its Loans and Commitments, no such assignment and/or delegation shall be permitted unless, after giving effect thereto,
such assignor Lender retains a Commitment in a minimum amount of $10,000,000); provided, however, that if a Default or Event of Default has occurred and is continuing, the consent of the Borrowers shall not be required;
provided, further, that the Borrowers and the Agent may continue to deal solely and directly with such Lender in connection with the interest so assigned to an Assignee until (i) written notice of such assignment, together with
payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Borrower Representative and the Agent by such Lender and the Assignee; (ii) such Lender and its Assignee shall have delivered to
the Borrower Representative and the Agent an Assignment and Acceptance in the form of Exhibit E (“Assignment and Acceptance”) together with any note or notes subject to such assignment and (iii) the assignor Lender or
Assignee has paid to the Agent a processing fee in the amount of $3,000. The Borrowers agree to promptly execute and deliver new promissory notes and replacement promissory notes as reasonably requested by the Agent to evidence assignments of the
Loans and Commitments in accordance herewith. 

  
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 (b)       From and after
the date that the Agent notifies the assignor Lender that it has received an executed Assignment and Acceptance and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that
rights and obligations, including, but not limited to, the obligation to participate in Letters of Credit and Credit Support have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Lender under
the Loan Documents, and (ii) the assignor Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be
released from its obligations under this Agreement (and in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a
party hereto). 
 (c)       By executing and delivering an
Assignment and Acceptance, the assigning Lender thereunder and the Assignee thereunder confirm to and agree with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Acceptance, such assigning
Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness,
sufficiency or value of this Agreement or any other Loan Document furnished pursuant hereto or the attachment, perfection, or priority of any Lien granted by the Borrowers to the Agent or any Lender in the Collateral; (ii) such assigning Lender
makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrowers or the performance or observance by the Borrowers of any of their obligations under this Agreement or any other Loan Document
furnished pursuant hereto; (iii) such Assignee confirms that it has received a copy of this Agreement, together with such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into
such Assignment and Acceptance; (iv) such Assignee will, independently and without reliance upon the Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under this Agreement; (v) such Assignee appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as
are delegated to the Agent by the terms hereof, together with such powers, including the discretionary rights and incidental power, as are reasonably incidental thereto; and (vi) such Assignee agrees that it will perform in accordance with
their terms all of the obligations which by the terms of this Agreement are required to be performed by it as a Lender. 
 (d)       Immediately upon satisfaction of the requirements of Section 11.2(a), this Agreement shall be deemed to be amended to the extent, but only to the
extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Lender pro tanto.

  
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 (e)       Any Lender may
at any time sell to one or more commercial banks, financial institutions, or other Persons not Affiliates of the Borrowers (a “Participant”) participating interests in any Loans, the Commitment of that Lender and the other interests
of that Lender (the “originating Lender”) hereunder and under the other Loan Documents; provided, however, that (i) the originating Lender’s obligations under this Agreement shall remain unchanged,
(ii) the originating Lender shall remain solely responsible for the performance of such obligations, (iii) the Borrowers and the Agent shall continue to deal solely and directly with the originating Lender in connection with the
originating Lender’s rights and obligations under this Agreement and the other Loan Documents, and (iv) no Lender shall transfer or grant any participating interest under which the Participant has rights to approve any amendment to, or any
consent or waiver with respect to, this Agreement or any other Loan Document except the matters set forth in Section 11.1(a) (i), (ii) and (iii), and all amounts payable by the Borrowers hereunder shall be determined as if such
Lender had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall be deemed to have the right
of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent and subject to the same limitation as if the amount of its participating interest were owing directly to it as a Lender under this
Agreement. 
 (f)       Notwithstanding any other provision
in this Agreement, any Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S.
Treasury Regulation 31 CFR §203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. 
 ARTICLE 12 
 THE AGENT 

12.1      Appointment and Authorization. Each Lender hereby designates and appoints
Bank as its Agent under this Agreement and the other Loan Documents and each Lender hereby irrevocably authorizes the Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such
powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. The Agent agrees to act as such on the express conditions
contained in this Article 12. The provisions of this Article 12 are solely for the benefit of the Agent and the Lenders and the Borrowers shall have no rights as a third party beneficiary of any of the provisions contained herein.
Notwithstanding any provision to the contrary contained elsewhere in this Agreement or in any other Loan Document, the Agent shall not have any duties or responsibilities, except those expressly set forth herein, nor shall the Agent have or be
deemed to have any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Agent.
Without limiting the generality of the foregoing sentence, the 

  
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use of the term “agent” in this Agreement with reference to the Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of
any applicable law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties. Except as expressly otherwise provided in this
Agreement, the Agent shall have and may use its sole discretion with respect to exercising or refraining from exercising any discretionary rights or taking or refraining from taking any actions which the Agent is expressly entitled to take or assert
under this Agreement and the other Loan Documents, including (a) the determination of the applicability of ineligibility criteria with respect to the calculation of the Borrowing Base, (b) the making of Agent Advances pursuant to
Section 1.2(i), and (c) the exercise of remedies pursuant to Section 9.2, and any action so taken or not taken shall be deemed consented to by the Lenders. 

12.2      Delegation of Duties. The Agent may execute any of its duties under this
Agreement or any other Loan Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Agent shall not be responsible for the negligence or
misconduct of any agent or attorney-in-fact that it selects as long as such selection was made without gross negligence or willful misconduct. 
 12.3      Liability of Agent. None of the Agent-Related Persons shall (i) be liable for any action taken or omitted to be taken by any of them under or in
connection with this Agreement or any other Loan Document or the transactions contemplated hereby (except for its own gross negligence or willful misconduct), or (ii) be responsible in any manner to any of the Lenders for any recital,
statement, representation or warranty made by the Borrowers or any Subsidiary or Affiliate of the Borrowers, or any officer thereof, contained in this Agreement or in any other Loan Document, or in any certificate, report, statement or other
document referred to or provided for in, or received by the Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan
Document, or for any failure of the Borrowers or any other party to any Loan Document to perform their obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Lender to ascertain or to inquire as to the
observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of the Borrowers or any of the Borrowers’ Subsidiaries or Affiliates.

 12.4      Reliance by Agent. The Agent shall be entitled to rely, and
shall be fully protected in relying, upon any writing, resolution, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, statement or other document or conversation reasonably believed by it to be genuine
and correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and statements of legal counsel (including counsel to the Borrowers), independent accountants and other experts selected by the Agent. The Agent shall
be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Required Lenders as it deems appropriate and, if it so requests, it shall
first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. The Agent shall in all cases be fully protected in acting, or in
refraining from acting, under this Agreement or any other Loan Document in accordance with 

  
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a request or consent of the Required Lenders (or all Lenders if so required by Section 11.1) and such request and any action taken or failure to act pursuant thereto shall be binding
upon all of the Lenders. 
 12.5      Notice of Default. The Agent shall
not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, unless the Agent shall have received written notice from a Lender or the Borrower Representative referring to this Agreement, describing such Default or
Event of Default and stating that such notice is a “notice of default.” The Agent will notify the Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be
requested by the Required Lenders in accordance with Section 9; provided, however, that unless and until the Agent has received any such request, the Agent may (but shall not be obligated to) take such action, or refrain
from taking such action, with respect to such Default or Event of Default as it shall deem advisable. 

12.6      Credit Decision. Each Lender acknowledges that none of the Agent-Related
Persons has made any representation or warranty to it, and that no act by the Agent hereinafter taken, including any review of the affairs of the Borrowers and their Affiliates, shall be deemed to constitute any representation or warranty by any
Agent-Related Person to any Lender. Each Lender represents to the Agent that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of
and investigation into the business, prospects, operations, property, financial and other condition and creditworthiness of the Borrowers and their Affiliates, and all applicable bank regulatory laws relating to the transactions contemplated hereby,
and made its own decision to enter into this Agreement and to extend credit to the Borrowers. Each Lender also represents that it will, independently and without reliance upon any Agent-Related Person and based on such documents and information as
it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems necessary to
inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Borrowers. Except for notices, reports and other documents expressly herein required to be furnished to the Lenders by the
Agent, the Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrowers which
may come into the possession of any of the Agent-Related Persons. 

12.7      Indemnification. Whether or not the transactions contemplated hereby are
consummated, the Lenders shall indemnify upon demand the Agent-Related Persons (to the extent not reimbursed by or on behalf of the Borrowers and without limiting the obligation of the Borrowers to do so), in accordance with their Pro Rata Shares,
from and against any and all Indemnified Liabilities as such term is defined in Section 13.11; provided, however, that no Lender shall be liable for the payment to the Agent-Related Persons of any portion of such
Indemnified Liabilities resulting solely from such Person’s gross negligence or willful misconduct. Without limitation of the foregoing, each Lender shall reimburse the Agent upon demand for its Pro Rata Share of any costs or out-of-pocket
expenses (including Attorney Costs) incurred by the Agent in connection with the preparation, execution, delivery, administration, 

  
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modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, any other
Loan Document, or any document contemplated by or referred to herein, to the extent that the Agent is not reimbursed for such expenses by or on behalf of the Borrowers. The undertaking in this Section shall survive the payment of all Obligations
hereunder and the resignation or replacement of the Agent. 
 12.8      Agent
in Individual Capacity. The Bank and its Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire equity interests in and generally engage in any kind of banking, trust, financial advisory,
underwriting or other business with the Borrowers and their Subsidiaries and Affiliates as though the Bank were not the Agent hereunder and without notice to or consent of the Lenders. The Bank or its Affiliates may receive information regarding the
Borrowers, their Affiliates and Account Debtors (including information that may be subject to confidentiality obligations in favor of the Borrowers or such Subsidiary) and the Lenders acknowledge that the Agent and the Bank shall be under no
obligation to provide such information to them. With respect to its Loans, the Bank shall have the same rights and powers under this Agreement as any other Lender and may exercise the same as though it were not the Agent, and the terms
“Lender” and “Lenders” include the Bank in its individual capacity. 

12.9      Successor Agent. The Agent may resign as Agent upon at least thirty
(30) days’ prior notice to the Lenders and the Borrower Representative, such resignation to be effective upon the acceptance of a successor agent to its appointment as Agent. In the event the Bank sells all of its Commitment and Revolving
Loans as part of a sale, transfer or other disposition by the Bank of substantially all of its loan portfolio, the Bank shall resign as Agent and such purchaser or transferee shall become the successor Agent hereunder. Subject to the foregoing, if
the Agent resigns under this Agreement, the Required Lenders shall appoint from among the Lenders a successor agent for the Lenders. If no successor agent is appointed prior to the effective date of the resignation of the Agent, the Agent may
appoint, after consulting with the Lenders and the Borrowers, a successor agent from among the Lenders. Upon the acceptance of its appointment as successor agent hereunder, such successor agent shall succeed to all the rights, powers and duties of
the retiring Agent and the term “Agent” shall mean such successor agent and the retiring Agent’s appointment, powers and duties as Agent shall be terminated. After any retiring Agent’s resignation hereunder as Agent, the
provisions of this Article 12 shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement. 

12.10      Withholding Tax. 

  (a)        If any Lender is a “foreign
corporation, partnership or trust” within the meaning of the Code and such Lender claims exemption from, or a reduction of, U.S. withholding tax under Sections 1441 or 1442 of the Code, such Lender agrees with and in favor of the Agent, to
deliver to the Agent: 
   (i)      if such Lender
claims an exemption from, or a reduction of, withholding tax under a United States of America tax treaty, properly completed IRS Forms W-8BEN and W-8ECI before the payment of any interest in the first 

  
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calendar year and before the payment of any interest in each third succeeding calendar year during which interest may be paid under this Agreement; 

(ii)      if such Lender claims that interest paid under this Agreement
is exempt from United States of America withholding tax because it is effectively connected with a United States of America trade or business of such Lender, two properly completed and executed copies of IRS Form W-8ECI before the payment of any
interest is due in the first taxable year of such Lender and in each succeeding taxable year of such Lender during which interest may be paid under this Agreement, and IRS Form W-9; and 

(iii)     such other form or forms as may be required under the Code or other
laws of the United States of America as a condition to exemption from, or reduction of, United States of America withholding tax. 
 Such Lender
agrees to promptly notify the Agent of any change in circumstances which would modify or render invalid any claimed exemption or reduction. 
 (b)      If any Lender claims exemption from, or reduction of, withholding tax under a United States of America tax treaty by providing IRS Form FW-8BEN and such Lender
sells, assigns, grants a participation in, or otherwise transfers all or part of the Obligations owing to such Lender, such Lender agrees to notify the Agent of the percentage amount in which it is no longer the beneficial owner of Obligations of
the Borrowers to such Lender. To the extent of such percentage amount, the Agent will treat such Lender’s IRS Form W-8BEN as no longer valid. 

(c)      If any Lender claiming exemption from United States of America
withholding tax by filing IRS Form W-8ECI with the Agent sells, assigns, grants a participation in, or otherwise transfers all or part of the Obligations owing to such Lender, such Lender agrees to undertake sole responsibility for complying with
the withholding tax requirements imposed by Sections 1441 and 1442 of the Code. 

(d)      If any Lender is entitled to a reduction in the applicable
withholding tax, the Agent may withhold from any interest payment to such Lender an amount equivalent to the applicable withholding tax after taking into account such reduction. If the forms or other documentation required by subsection
(a) of this Section are not delivered to the Agent, then the Agent may withhold from any interest payment to such Lender not providing such forms or other documentation an amount equivalent to the applicable withholding tax. 

(e)      If the IRS or any other Governmental Authority of the United
States of America or other jurisdiction asserts a claim that the Agent did not properly withhold tax from amounts paid to or for the account of any Lender (because the appropriate form was not delivered, was not properly executed, or because such
Lender failed to notify the Agent of a change in circumstances 

  
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which rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason) such Lender shall indemnify the Agent fully for all amounts paid, directly or indirectly,
by the Agent as tax or otherwise, including penalties and interest, and including any taxes imposed by any jurisdiction on the amounts payable to the Agent under this Section, together with all costs and expenses (including Attorney Costs). The
obligation of the Lenders under this subsection shall survive the payment of all Obligations and the resignation or replacement of the Agent. 
 12.11    Collateral Matters. 
 (a)       The Lenders hereby irrevocably authorize the Agent, at its option and in its sole discretion, to release any Agent’s Liens upon any Collateral
(i) upon the termination of the Commitments and payment and satisfaction in full by Borrowers of all Loans and reimbursement obligations in respect of Letters of Credit and Credit Support, and the termination of all outstanding Letters of
Credit (whether or not any of such obligations are due) and all other Obligations; (ii) constituting property being sold or disposed of if the Borrowers certify to the Agent that the sale or disposition is made in compliance with
Section 7.9 (and the Agent may rely conclusively on any such certificate, without further inquiry); (iii) constituting property in which the Borrowers owned no interest at the time the Lien was granted or at any time thereafter; or
(iv) constituting property leased to the Borrowers under a lease which has expired or been terminated in a transaction permitted under this Agreement. Except as provided above, the Agent will not release any of the Agent’s Liens without
the prior written authorization of the Lenders; provided that the Agent may, in its discretion, release the Agent’s Liens on Collateral valued in the aggregate not to exceed $500,000 during each Fiscal Year without the prior written
authorization of the Lenders and the Agent may release the Agent’s Liens on Collateral valued in the aggregate not to exceed $1,000,000 during each Fiscal Year with the prior written authorization of Required Lenders. Upon request by the Agent
or the Borrowers at any time, the Lenders will confirm in writing the Agent’s authority to release any Agent’s Liens upon particular types or items of Collateral pursuant to this Section 12.11. 

(b)       Upon receipt by the Agent of any authorization required
pursuant to Section 12.11(a) from the Lenders of the Agent’s authority to release Agent’s Liens upon particular types or items of Collateral, and upon at least five (5) Business Days prior written request by the Borrower
Representative, the Agent shall (and is hereby irrevocably authorized by the Lenders to) execute such documents as may be necessary to evidence the release of the Agent’s Liens upon such Collateral; provided, however, that
(i) the Agent shall not be required to execute any such document on terms which, in the Agent’s opinion, would expose the Agent to liability or create any obligation or entail any consequence other than the release of such Liens without
recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Obligations or any Liens (other than those expressly being released) upon (or obligations of the Borrowers in

  
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respect of) all interests retained by the Borrowers, including the proceeds of any sale, all of which shall continue to constitute part of the Collateral. 

(c)      The Agent shall have no obligation whatsoever to any of the
Lenders to assure that the Collateral exists or is owned by the Borrowers or is cared for, protected or insured or has been encumbered, or that the Agent’s Liens have been properly or sufficiently or lawfully created, perfected, protected or
enforced or are entitled to any particular priority, or to exercise at all or in any particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any of the rights, authorities and powers granted or available to
the Agent pursuant to any of the Loan Documents, it being understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, the Agent may act in any manner it may deem appropriate, in its sole discretion given
the Agent’s own interest in the Collateral in its capacity as one of the Lenders and that the Agent shall have no other duty or liability whatsoever to any Lender as to any of the foregoing. 

12.12    Restrictions on Actions by Lenders; Sharing of Payments. 

(a)      Each of the Lenders agrees that it shall not, without the express
consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to the Borrowers or any accounts of the Borrowers now or
hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, take or cause to be taken any action to enforce its rights under this Agreement or against the
Borrowers, including the commencement of any legal or equitable proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral. 

(b)      If at any time or times any Lender shall receive (i) by
payment, foreclosure, setoff or otherwise, any proceeds of Collateral or any payments with respect to the Obligations of the Borrowers to such Lender arising under, or relating to, this Agreement or the other Loan Documents, except for any such
proceeds or payments received by such Lender from the Agent pursuant to the terms of this Agreement, or (ii) payments from the Agent in excess of such Lender’s ratable portion of all such distributions by the Agent, such Lender shall
promptly (1) turn the same over to the Agent, in kind, and with such endorsements as may be required to negotiate the same to the Agent, or in same day funds, as applicable, for the account of all of the Lenders and for application to the
Obligations in accordance with the applicable provisions of this Agreement, or (2) purchase, without recourse or warranty, an undivided interest and participation in the Obligations owed to the other Lenders so that such excess payment received
shall be applied ratably as among the Lenders in accordance with their Pro Rata Shares; provided, however, that if all or part of such excess payment received by the purchasing party is thereafter recovered from it, those purchases of
participations shall be rescinded in whole or in part, as applicable, 

  
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and the applicable portion of the purchase price paid therefor shall be returned to such purchasing party, but without interest except to the extent that such purchasing party is required to pay
interest in connection with the recovery of the excess payment. 

12.13      Agency for Perfection. Each Lender hereby appoints each other Lender as
agent for the purpose of perfecting the Lenders’ security interest in assets which, in accordance with Article 9 of the UCC can be perfected only by possession. Should any Lender (other than the Agent) obtain possession of any such Collateral,
such Lender shall notify the Agent thereof, and, promptly upon the Agent’s request therefor shall deliver such Collateral to the Agent or in accordance with the Agent’s instructions. 

12.14      Payments by Agent to Lenders. All payments to be made by the Agent to
the Lenders shall be made by bank wire transfer or internal transfer of immediately available funds to each Lender pursuant to wire transfer instructions delivered in writing to the Agent on or prior to the Closing Date (or if such Lender is an
Assignee, on the applicable Assignment and Acceptance), or pursuant to such other wire transfer instructions as each party may designate for itself by written notice to the Agent. Concurrently with each such payment, the Agent shall identify whether
such payment (or any portion thereof) represents principal, premium or interest on the Revolving Loans or otherwise. Unless the Agent receives notice from the Borrower Representative prior to the date on which any payment is due to the Lenders that
the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the Agent may (but shall not be so required),
in reliance upon such assumption, distribute to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent the Borrowers have not made such payment in full to the Agent, each Lender shall repay to the Agent
on demand such amount distributed to such Lender, together with interest thereon at the Federal Funds Effective Rate for each day from the date such amount is distributed to such Lender until the date repaid. 

12.15      Settlement. 

(a)      (i)      Each Lender’s funded
portion of the Revolving Loans is intended by the Lenders to be equal at all times to such Lender’s Pro Rata Share of the outstanding Revolving Loans. Notwithstanding such agreement, the Agent, the Bank, and the other Lenders agree (which
agreement shall not be for the benefit of or enforceable by the Borrowers) that in order to facilitate the administration of this Agreement and the other Loan Documents, settlement among them as to the Revolving Loans, the Swing Line Loans and the
Agent Advances shall take place on a periodic basis in accordance with the following provisions: 

 (ii)      The Agent shall request settlement (“Settlement”) with
the Lenders on at least a weekly basis, or on a more frequent basis at Agent’s election, (A) on behalf of the Bank, with respect to each outstanding Swing Line Loan, (B) for itself, with respect to each Agent Advance, and
(C) with respect to collections received, in each case, by notifying the Lenders of such requested Settlement by telecopy, telephone or other similar form of 

  
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transmission, of such requested Settlement, no later than 12:00 noon (Chicago time) on the date of such requested Settlement (the “Settlement Date”). Each Lender (other than the
Bank, in the case of Swing Line Loans and the Agent in the case of Agent Advances) shall transfer the amount of such Lender’s Pro Rata Share of the outstanding principal amount of the Swing Line Loans and Agent Advances with respect to each
Settlement to the Agent, to Agent’s account, not later than 2:00 p.m. (Chicago time), on the Settlement Date applicable thereto. Settlements may occur during the continuation of a Default or an Event of Default and whether or not the applicable
conditions precedent set forth in Article 8 have then been satisfied. Such amounts made available to the Agent shall be applied against the amounts of the applicable Swing Line Loan or Agent Advance and, together with the portion of such
Swing Line Loan or Agent Advance representing the Bank’s Pro Rata Share thereof, shall constitute Revolving Loans of such Lenders. If any such amount is not transferred to the Agent by any Lender on the Settlement Date applicable thereto, the
Agent shall be entitled to recover such amount on demand from such Lender together with interest thereon at the Federal Funds Effective Rate for the first two (2) days from and after the Settlement Date and thereafter at the Interest Rate then
applicable to the Revolving Loans (A) on behalf of the Bank, with respect to each outstanding Swing Line Loan, and (B) for itself, with respect to each Agent Advance. 

(iii)      Notwithstanding the foregoing, not more than one (1) Business Day after
demand is made by the Agent (whether before or after the occurrence of a Default or an Event of Default and regardless of whether the Agent has requested a Settlement with respect to a Swing Line Loan or Agent Advance), each other Lender
(A) shall irrevocably and unconditionally purchase and receive from the Bank or the Agent, as applicable, without recourse or warranty, an undivided interest and participation in such Swing Line Loan or Agent Advance equal to such Lender’s
Pro Rata Share of such Swing Line Loan or Agent Advance and (B) if Settlement has not previously occurred with respect to such Swing Line Loans or Agent Advances, upon demand by Bank or Agent, as applicable, shall pay to Bank or Agent, as
applicable, as the purchase price of such participation an amount equal to one-hundred percent (100%) of such Lender’s Pro Rata Share of such Swing Line Loans or Agent Advances. If such amount is not in fact made available to the Agent by
any Lender, the Agent shall be entitled to recover such amount on demand from such Lender together with interest thereon at the Federal Funds Effective Rate for the first two (2) days from and after such demand and thereafter at the Interest
Rate then applicable to CBFR Revolving Loans (A) on behalf of the Bank, with respect to each outstanding Swing Line Loan, and (B) for itself, with respect to each Agent Advance. 

(iv)      From and after the date, if any, on which any Lender purchases an undivided
interest and participation in any Swing Line Loan or Agent Advance pursuant to clause (iii) above, the Agent shall promptly distribute to such Lender, such Lender’s Pro Rata Share of all payments of principal and interest and all
proceeds of Collateral received by the Agent in respect of such Swing Line Loan or Agent Advance. 

(v)      Between Settlement Dates, the Agent, to the extent no Agent Advances are
outstanding, may pay over to the Bank any payments received by the Agent, which in accordance with the terms of this Agreement would be applied to the reduction of the Revolving Loans, for application to the Bank’s Revolving Loans including
Swing Line Loans. If, as of any Settlement Date, collections received since the then immediately preceding Settlement Date have been applied to the Bank’s Revolving Loans (other than to Swing Line

  
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Loans or Agent Advances in which such Lender has not yet funded its purchase of a participation pursuant to clause (iii) above), as provided for in the previous sentence, the Bank shall pay
to the Agent for the accounts of the Lenders, to be applied to the outstanding Revolving Loans of such Lenders, an amount such that each Lender shall, upon receipt of such amount, have, as of such Settlement Date, its Pro Rata Share of the Revolving
Loans. During the period between Settlement Dates, the Bank with respect to Swing Line Loans, the Agent with respect to Agent Advances, and each Lender with respect to the Revolving Loans other than Swing Line Loans and Agent Advances, shall be
entitled to interest at the applicable rate or rates payable under this Agreement on the actual average daily amount of funds employed by the Bank, the Agent and the other Lenders. 

  (vi)       Unless the Agent has received written notice from a Lender to
the contrary, the Agent may assume that the applicable conditions precedent set forth in Article 8 have been satisfied and the requested Borrowing will not exceed Availability on any Funding Date for a Revolving Loan or Swing Line Loan.

   (vii)      Each Lender’s obligation to make a Revolving Loan
in accordance with this Section 12.15 and to purchase participation interests in accordance with this Section 12.15 shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any
setoff, counterclaim, recoupment, defense or other right that such Lender may have against the Agent or Bank, Borrowers or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default;
(C) any inability of Borrowers to satisfy the conditions precedent to borrowing set forth in this Agreement at any time or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

 (b)      Lenders’ Failure to Perform. All
Revolving Loans (other than Swing Line Loans and Agent Advances) shall be made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other
Lender to perform its obligation to make any Revolving Loans hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligation to make any Revolving Loans hereunder,
(ii) no failure by any Lender to perform its obligation to make any Revolving Loans hereunder shall excuse any other Lender from its obligation to make any Revolving Loans hereunder, and (iii) the obligations of each Lender hereunder shall
be several, not joint and several. 
 (c)      Defaulting
Lenders. Unless the Agent receives notice from a Lender on or prior to the Closing Date or, with respect to any Borrowing after the Closing Date, at least one Business Day prior to the date of such Borrowing, that such Lender will not make
available as and when required hereunder to the Agent that Lender’s Pro Rata Share of a Borrowing, the Agent may assume that each Lender has made such amount available to the Agent in immediately available funds on the Funding Date.
Furthermore, the Agent may, in reliance upon such assumption, make available to the Borrowers on such date a corresponding amount. If any Lender has not transferred its full Pro Rata Share to the Agent in 

  
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immediately available funds and the Agent has transferred corresponding amount to the Borrowers on the Business Day following such Funding Date that Lender shall make such amount available to the
Agent, together with interest at the Federal Funds Effective Rate for that day. A notice by the Agent submitted to any Lender with respect to amounts owing shall be conclusive, absent manifest error. If each Lender’s full Pro Rata Share is
transferred to the Agent as required, the amount transferred to the Agent shall constitute that Lender’s Revolving Loan for all purposes of this Agreement. If that amount is not transferred to the Agent on the Business Day following the Funding
Date, the Agent will notify the Borrower Representative of such failure to fund and, upon demand by the Agent, the Borrowers shall pay such amount to the Agent for the Agent’s account, together with interest thereon for each day elapsed since
the date of such Borrowing, at a rate per annum equal to the Interest Rate applicable at the time to the Revolving Loans comprising that particular Borrowing. The failure of any Lender to make any Revolving Loan on any Funding Date shall not relieve
any other Lender of its obligation hereunder to make a Revolving Loan on that Funding Date. No Lender shall be responsible for any other Lender’s failure to advance such other Lenders’ Pro Rata Share of any Borrowing. Notwithstanding any
provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender. 

(i)       fees shall cease to accrue on the unfunded portion of the
Commitment of such Defaulting Lender pursuant to Section 2.5; 

(ii)      the Commitment and Revolving Exposure of such Defaulting Lender
shall not be included in determining whether all Lenders or the Required Lenders have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to Section 11.1), provided that any waiver, amendment
or modification requiring the consent of all Lenders or each affected Lender which affects such Defaulting Lender differently than other affected Lenders shall require the consent of such Defaulting Lender; 

(iii)     if any Swing Line Exposure or LC Exposure exists at the time a
Lender becomes a Defaulting Lender then: 
 (1)      all or any part of such
Swing Line Exposure and LC Exposure shall be reallocated among the non-Defaulting Lenders in accordance with their respective Pro Rata Shares but only to the extent (x) the sum of all non-Defaulting Lenders’ Revolving Exposures plus such
Defaulting Lender’s Swing Line Exposure and LC Exposure does not exceed the total of all non-Defaulting Lenders’ Commitments and (y) the conditions set forth in Section 8.2 are satisfied at such time; and 

(2)      if the reallocation described in clause (1) above cannot, or can only
partially, be effected, the Borrowers shall within one Business Day following notice by the Agent (x) first, prepay such Swing Line Exposure and (y) second, cash collateralize such Defaulting Lender’s LC Exposure (after giving effect
to any partial reallocation pursuant to 

  
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clause (1) above) in accordance with the procedures set forth in Section 1.3(g) for so long as such LC Exposure is outstanding; 

(3)      if the Borrowers cash collateralize any portion of such Defaulting Lender’s
LC Exposure pursuant to Section 12.15(c)(iii), the Borrowers shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.6 with respect to such Defaulting Lender’s LC Exposure during the period
such Defaulting Lender’s LC Exposure is cash collateralized; 
 (4)      if
the LC Exposure of the non-Defaulting Lenders is reallocated pursuant to Section 12.15(c)(iii), then the fees payable to the Lenders pursuant to Section 2.5 and Section 2.6 shall be adjusted in accordance with
such non-Defaulting Lenders’ Pro Rata Shares; or 
 (5)      if any
Defaulting Lender’s LC Exposure is neither cash collateralized nor reallocated pursuant to Section 12.15(c)(iii), then, without prejudice to any rights or remedies of the Letter of Credit Issuer or any Lender hereunder, all Unused
Line Fees that otherwise would have been payable to such Defaulting Lender (solely with respect to the portion of such Defaulting Lender’s Commitment that was utilized by such LC Exposure) and letter of credit fees payable under
Section 2.6 with respect to such Defaulting Lender’s LC Exposure shall be payable to the Letter of Credit Issuer until such LC Exposure is cash collateralized and/or reallocated; 

(iv)     the Bank shall not be required to fund any Swing Line Loan and the
Letter of Credit Issuer shall not be required to issue, amend or increase any Letter of Credit, unless it is satisfied that the related exposure will be 100% covered by the Commitments of the non-Defaulting Lenders and/or cash collateral will be
provided by the Borrowers in accordance with Section 12.15(c)(iii), and participating interests in any such newly issued or increased Letter of Credit or newly made Swing Line Loan shall be allocated among non-Defaulting Lenders in a manner
consistent with Section 12.15(c)(iii)(1) (and Defaulting Lenders shall not participate therein); and 
 (v)     in the event and on the date that each of the Agent, the Borrowers, the Letter of Credit Issuer and the Bank agrees that a Defaulting Lender has adequately remedied all
matters that caused such Lender to be a Defaulting Lender, then the Swing Line Exposure and LC Exposure of the other Lenders shall be readjusted to reflect the inclusion of such Lender’s Commitment and on such date such Lender shall purchase at
par such of the Loans of the other Lenders (other than Swing Line Loans) as the Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Pro Rata Share. 

(d)     Retention of Defaulting Lender’s Payments. The Agent shall
not be obligated to transfer to a Defaulting Lender any payments made by Borrowers to the Agent for the Defaulting Lender’s benefit; nor shall a Defaulting Lender be entitled to the sharing of any payments hereunder. Amounts payable to a

  
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Defaulting Lender shall instead be paid to or retained by the Agent. In its discretion, the Agent may loan Borrowers the amount of all such payments received or retained by it for the account of
such Defaulting Lender. Any amounts so loaned to the Borrowers shall bear interest at the rate applicable to CBFR Revolving Loans and for all other purposes of this Agreement shall be treated as if they were Revolving Loans. The terms of this
Section shall not be construed to increase or otherwise affect the Commitment of any Lender, or relieve or excuse the performance by the Borrowers of their duties and obligations hereunder. 

(e)       Removal of Defaulting Lender. At the Borrowers’
request, the Agent or an Eligible Assignee reasonably acceptable to the Agent and the Borrowers shall have the right (but not the obligation) to purchase from any Defaulting Lender, and each Defaulting Lender shall, upon such request, sell and
assign to the Agent or such Eligible Assignee, all of the Defaulting Lender’s outstanding Commitments hereunder. Such sale shall be consummated promptly after Agent has arranged for a purchase by Agent or an Eligible Assignee pursuant to an
Assignment and Acceptance, and at a price equal to the outstanding principal balance of the Defaulting Lender’s Loans, plus accrued interest and fees, without premium or discount. 

12.16  Letters of Credit; Intra-Lender Issues. 

          (a)       Notice of
Letter of Credit Balance. On each Settlement Date the Agent shall notify each Lender of the issuance of all Letters of Credit since the prior Settlement Date. 

          (b)         
Participations in Letters of Credit. 
 (i)       Purchase of
Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 1.3(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an
undivided interest and participation equal to such Lender’s Pro Rata Share of the face amount of such Letter of Credit or the Credit Support provided through the Agent to the Letter of Credit Issuer, if not the Bank, in connection with the
issuance of such Letter of Credit (including all obligations of the Borrowers with respect thereto, and any security therefor or guaranty pertaining thereto). 
 (ii)       Sharing of Reimbursement Obligation Payments. Whenever the Agent receives a payment from the Borrowers on account of reimbursement obligations in
respect of a Letter of Credit or Credit Support as to which the Agent has previously received for the account of the Letter of Credit Issuer thereof payment from a Lender, the Agent shall promptly pay to such Lender such Lender’s Pro Rata Share
of such payment from the Borrowers. Each such payment shall be made by the Agent on the next Settlement Date. 

  
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 (iii)       Documentation. Upon
the request of any Lender, the Agent shall furnish to such Lender copies of any Letter of Credit, Credit Support for any Letter of Credit, reimbursement agreements executed in connection therewith, applications for any Letter of Credit, and such
other documentation as may reasonably be requested by such Lender. 

(iv)       Obligations Irrevocable. The obligations of each Lender to make
payments to the Agent with respect to any Letter of Credit or with respect to their participation therein or with respect to any Credit Support for any Letter of Credit or with respect to the Revolving Loans made as a result of a drawing under a
Letter of Credit and the obligations of the Borrowers for whose account the Letter of Credit or Credit Support was issued to make payments to the Agent, for the account of the Lenders, shall be irrevocable and shall not be subject to any
qualification or exception whatsoever, including any of the following circumstances: 

(1)       any lack of validity or enforceability of this Agreement or any of the
other Loan Documents; 
 (2)       the existence of any claim, setoff,
defense or other right which the Borrowers may have at any time against a beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer
of such Letter of Credit, or any other Person, whether in connection with this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrowers or any
other Person and the beneficiary named in any Letter of Credit); 

(3)       any draft, certificate or any other document presented under the Letter of
Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; 
 (4)       the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; 

(5)       the occurrence of any Default or Event of Default; or 

(6)       the failure of the Borrowers to satisfy the applicable conditions precedent
set forth in Article 8. 
 (c)       Recovery or
Avoidance of Payments; Refund of Payments In Error. In the event any payment by or on behalf of the Borrowers received by the Agent with respect to any Letter of Credit or Credit Support provided for any Letter of Credit and distributed by the
Agent to the Lenders on account of their respective participations therein is thereafter set aside, avoided or recovered from the Agent in connection with any receivership, liquidation or bankruptcy proceeding, the Lenders shall, upon demand by the
Agent, pay to the Agent their respective Pro Rata Shares of such amount set aside, avoided or recovered, together with interest at the rate required to be paid by the Agent upon the amount required to be repaid by it. Unless the Agent receives
notice from the Borrower Representative prior to the date on which any payment is due to the Lenders that 

  
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the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available
funds and the Agent may (but shall not be so required), in reliance upon such assumption, distribute to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent the Borrowers have not made such payment in
full to the Agent, each Lender shall repay to the Agent on demand such amount distributed to such Lender, together with interest thereon at the Federal Funds Effective Rate for each day from the date such amount is distributed to such Lender until
the date repaid. 
 (d)       Indemnification by
Lenders. To the extent not reimbursed by the Borrowers and without limiting the obligations of the Borrowers hereunder, the Lenders agree to indemnify the Letter of Credit Issuer ratably in accordance with their respective Pro Rata Shares, for
any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including attorneys’ fees) or disbursements of any kind and nature whatsoever that may be imposed on, incurred by or asserted against
the Letter of Credit Issuer in any way relating to or arising out of any Letter of Credit or the transactions contemplated thereby or any action taken or omitted by the Letter of Credit Issuer under any Letter of Credit or any Loan Document in
connection therewith; provided that no Lender shall be liable for any of the foregoing to the extent it arises from the gross negligence or willful misconduct of the Person to be indemnified. Without limitation of the foregoing, each Lender
agrees to reimburse the Letter of Credit Issuer promptly upon demand for its Pro Rata Share of any costs or expenses payable by the Borrowers to the Letter of Credit Issuer, to the extent that the Letter of Credit Issuer is not promptly reimbursed
for such costs and expenses by the Borrowers. The agreement contained in this Section shall survive payment in full of all other Obligations. 
 12.17  Concerning the Collateral and the Related Loan Documents. Each Lender authorizes and directs the Agent to enter into the other Loan Documents, for the ratable benefit and obligation of
the Agent and the Lenders. Each Lender agrees that any action taken by the Agent or Required Lenders, as applicable, in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Agent or the Required Lenders,
as applicable, of their respective powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Lenders. The Lenders acknowledge that the Revolving Loans, Agent
Advances, Swing Line Loans, Hedge Agreements, Bank Products and all interest, fees and expenses hereunder constitute one Debt, secured pari passu by all of the Collateral. 

12.18  Field Audit and Examination Reports; Disclaimer by Lenders. By signing this Agreement, each Lender:

 (a)       is deemed to have requested that the Agent
furnish such Lender, promptly after it becomes available, a copy of each field audit or examination report (each a “Report” and collectively, “Reports”) prepared by or on behalf of the Agent; 

  
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 (b)       expressly
agrees and acknowledges that neither the Bank nor the Agent (i) makes any representation or warranty as to the accuracy of any Report, or (ii) shall be liable for any information contained in any Report; 

(c)       expressly agrees and acknowledges that the Reports are not
comprehensive audits or examinations, that the Agent or the Bank or other party performing any audit or examination will inspect only specific information regarding the Borrowers and will rely significantly upon the Borrowers’ books and
records, as well as on representations of the Borrowers’ personnel; 

(d)       agrees to keep all Reports confidential and strictly for
its internal use, and not to distribute except to its participants, or use any Report in any other manner; and 
 (e)       without limiting the generality of any other indemnification provision contained in this Agreement, agrees: (i) to hold the Agent and any such other
Lender preparing a Report harmless from any action the indemnifying Lender may take or conclusion the indemnifying Lender may reach or draw from any Report in connection with any loans or other credit accommodations that the indemnifying Lender has
made or may make to the Borrowers, or the indemnifying Lender’s participation in, or the indemnifying Lender’s purchase of, a loan or loans of the Borrowers; and (ii) to pay and protect, and indemnify, defend and hold the Agent and
any such other Lender preparing a Report harmless from and against, the claims, actions, proceedings, damages, costs, expenses and other amounts (including Attorney Costs) incurred by the Agent and any such other Lender preparing a Report as the
direct or indirect result of any third parties who might obtain all or part of any Report through the indemnifying Lender. 
 12.19 Relation Among Lenders. The Lenders are not partners or co-venturers, and no Lender shall be liable for the acts or omissions of, or (except as otherwise set forth herein in case of the
Agent) authorized to act for, any other Lender. 
 ARTICLE 13 

MISCELLANEOUS 
 13.1 No Waivers; Cumulative Remedies. No failure by the Agent or any Lender to exercise any right, remedy, or option under this Agreement or any present or future supplement thereto, or in any
other agreement between or among the Borrowers and the Agent and/or any Lender, or delay by the Agent or any Lender in exercising the same, will operate as a waiver thereof. No waiver by the Agent or any Lender will be effective unless it is in
writing, and then only to the extent specifically stated. No waiver by the Agent or the Lenders on any occasion shall affect or diminish the Agent’s and each Lender’s rights thereafter to require strict performance by the Borrowers of any
provision of this Agreement. The Agent and the Lenders may proceed directly to collect the Obligations without any prior recourse to the Collateral. The Agent’s and each Lender’s rights under this Agreement will be cumulative and not
exclusive of any other right or remedy which the Agent or any Lender may have. 

  
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 13.2 Severability. The illegality or unenforceability of any
provision of this Agreement or any Loan Document or any instrument or agreement required hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Agreement or any instrument or agreement
required hereunder. 
 13.3 Governing Law; Choice of Forum; Service of Process. 

(a)       THIS AGREEMENT SHALL BE INTERPRETED AND THE RIGHTS AND
LIABILITIES OF THE PARTIES HERETO DETERMINED IN ACCORDANCE WITH THE INTERNAL LAWS (AS OPPOSED TO THE CONFLICT OF LAWS PROVISIONS PROVIDED THAT PERFECTION ISSUES WITH RESPECT TO ARTICLE 9 OF THE UCC MAY GIVE EFFECT TO APPLICABLE CHOICE OR CONFLICT OF
LAW RULES SET FORTH IN ARTICLE 9 OF THE UCC) OF THE STATE OF ILLINOIS; PROVIDED THAT THE AGENT AND THE LENDERS SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW. 

(b)       ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF ILLINOIS OR OF THE UNITED STATES OF AMERICA LOCATED IN COOK COUNTY, ILLINOIS, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE BORROWERS, THE AGENT AND THE
LENDERS CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH OF THE BORROWERS, THE AGENT AND THE LENDERS IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING 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 ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR ANY DOCUMENT RELATED HERETO. NOTWITHSTANDING THE FOREGOING:
(1) THE AGENT AND THE LENDERS SHALL HAVE THE RIGHT TO BRING ANY ACTION OR PROCEEDING AGAINST THE BORROWERS OR THEIR PROPERTY IN THE COURTS OF ANY OTHER JURISDICTION THE AGENT OR THE LENDERS DEEM NECESSARY OR APPROPRIATE IN ORDER TO REALIZE ON
THE COLLATERAL OR OTHER SECURITY FOR THE OBLIGATIONS AND (2) EACH OF THE PARTIES HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THE COURTS DESCRIBED IN THE IMMEDIATELY PRECEDING SENTENCE MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE THOSE
JURISDICTIONS. 
 (c)       THE BORROWERS HEREBY WAIVE
PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT AND CONSENTS THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL (RETURN RECEIPT REQUESTED) DIRECTED TO THE BORROWERS AT THEIR 

  
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ADDRESS SET FORTH IN SECTION 13.8 AND SERVICE SO MADE SHALL BE DEEMED TO BE COMPLETED FIVE (5) DAYS AFTER THE SAME SHALL HAVE BEEN SO DEPOSITED IN THE U.S. MAILS POSTAGE PREPAID.
NOTHING CONTAINED HEREIN SHALL AFFECT THE RIGHT OF AGENT OR THE LENDERS TO SERVE LEGAL PROCESS BY ANY OTHER MANNER PERMITTED BY LAW. 
 13.4    WAIVER OF JURY TRIAL. THE BORROWERS, THE LENDERS AND THE AGENT EACH IRREVOCABLY WAIVE THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED
UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT, THE OTHER LOAN DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR ANY
AGENT-RELATED PERSON, PARTICIPANT OR ASSIGNEE, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. THE BORROWERS, THE LENDERS AND THE AGENT EACH AGREE THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A
JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE
THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR ANY PROVISION HEREOF OR THEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS. 
 13.5    Survival of Representations and Warranties. All of the
Borrowers’ representations and warranties contained in this Agreement shall survive the execution, delivery, and acceptance thereof by the parties, notwithstanding any investigation by the Agent or the Lenders or their respective agents.

 13.6    Other Security and Guaranties. The Agent, may, without notice or demand
and without affecting the Borrowers’ obligations hereunder, from time to time: (a) take from any Person and hold collateral (other than the Collateral) for the payment of all or any part of the Obligations and exchange, enforce or release
such collateral or any part thereof; and (b) accept and hold any endorsement or guaranty of payment of all or any part of the Obligations and release or substitute any such endorser or guarantor, or any Person who has given any Lien in any
other collateral as security for the payment of all or any part of the Obligations, or any other Person in any way obligated to pay all or any part of the Obligations. 

13.7    Fees and Expenses. The Borrowers agree to pay to the Agent, for its benefit, on
demand, all costs and expenses that Agent pays or incurs in connection with the negotiation, preparation, syndication, consummation, administration, enforcement, and termination of this Agreement or any of the other Loan Documents, including:
(a) Attorney Costs; (b) costs and expenses (including attorneys’ and paralegals’ fees and disbursements) for any amendment, supplement, waiver, consent, or subsequent closing in connection with the Loan

  
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Documents and the transactions contemplated thereby; (c) costs and expenses of lien and title searches and title insurance; (d) taxes, fees and other charges for filing financing
statements and continuations, and other actions to perfect, protect, and continue the Agent’s Liens (including costs and expenses paid or incurred by the Agent in connection with the consummation of Agreement); (e) sums paid or incurred to
pay any amount or take any action required of the Borrowers under the Loan Documents that the Borrowers fail to pay or take; (f) costs of appraisals, inspections, environmental reviews and verifications of the Collateral, including travel,
lodging, and meals for inspections of the Collateral and the Borrowers’ operations by the Agent plus the Agent’s then customary charge for field examinations and audits and the preparation of reports thereof (such charge is currently $125
per hour per examiner retained or employed by the Agent with respect to each field examination or audit, plus out of pocket expenses); and (g) costs and expenses of forwarding loan proceeds, collecting checks and other items of payment, and
establishing and maintaining Payment Accounts and lock boxes, and costs and expenses of preserving and protecting the Collateral. In addition, the Borrowers agree to pay costs and expenses incurred by the Agent (including Attorneys’ Costs) to
the Agent, for its benefit, on demand, and to the other Lenders for their benefit, on demand, and all reasonable fees, expenses and disbursements incurred by such other Lenders for one law firm retained by such other Lenders, in each case, paid or
incurred to obtain payment of the Obligations, enforce the Agent’s Liens, sell or otherwise realize upon the Collateral, and otherwise enforce the provisions of the Loan Documents, or to defend any claims made or threatened against the Agent or
any Lender arising out of the transactions contemplated hereby (including preparations for and consultations concerning any such matters). The foregoing shall not be construed to limit any other provisions of the Loan Documents regarding costs and
expenses to be paid by the Borrowers. All of the foregoing costs and expenses shall be charged to the Borrowers’ Loan Account as Revolving Loans as described in Section 3.6. 

13.8    Notices. Except as otherwise provided herein, all notices, demands and requests that
any party is required or elects to give to any other shall be in writing, or by a telecommunications device capable of creating a written record, and any such notice shall become effective (a) upon personal delivery thereof, including, but not
limited to, delivery by overnight mail and courier service, (b) four (4) days after it shall have been mailed by United States mail, first class, certified or registered, with postage prepaid, or (c) in the case of notice by such a
telecommunications device, when properly transmitted, in each case addressed to the party to be notified as follows: 
 If to the Agent or to the Bank: 
 JPMorgan Chase Bank, N.A. 

10 South Dearborn 
 Floor 22 
 Chicago, Illinois 60603 

Attention: David Lehner 
 Telecopy No.: (312) 732-7593 
 with copies to: 

  
 83 

 Vik Puri 
 Latham & Watkins 
 233 South Wacker Drive 

5800 Sears Tower 
 Chicago, Illinois 60606 
 Telecopy No.: (312) 993-9767 

If to the Borrowers: 
 Omnova Solutions Inc. 
 175 Ghent Road 

Fairlawn, OH 44333 
 Attention: Michael E. Hicks 
 Telecopy No.: (330) 869-4544 

with copies to: 
 Jeffery R. Rush 
 Frost Brown Todd LLC 

2200 PNC Center 

201 East Fifth Street 
 Cincinnati, OH 45202 
 or to such other address as each party may designate for
itself by like notice. Failure or delay in delivering copies of any notice, demand, request, consent, approval, declaration or other communication to the persons designated above to receive copies shall not adversely affect the effectiveness of such
notice, demand, request, consent, approval, declaration or other communication. 

13.9    Waiver of Notices. Unless otherwise expressly provided herein, the Borrowers waive
presentment, and notice of demand or dishonor and protest as to any instrument, notice of intent to accelerate the Obligations and notice of acceleration of the Obligations, as well as any and all other notices to which it might otherwise be
entitled. No notice to or demand on the Borrowers which the Agent or any Lender may elect to give shall entitle the Borrowers to any or further notice or demand in the same, similar or other circumstances. 

13.10  Binding Effect. The provisions of this Agreement shall be binding upon and inure to the benefit
of the respective representatives, successors, and assigns of the parties hereto; provided, however, that no interest herein may be assigned by the Borrowers without prior written consent of the Agent and each Lender. The rights and
benefits of the Agent and the Lenders hereunder shall, if such Persons so agree, inure to any party acquiring any interest in the Obligations or any part thereof. 

13.11  Indemnity of the Agent and the Lenders by the Borrowers. 

  
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 (a)        The
Borrowers agree, jointly and severally, to defend, indemnify and hold the Agent-Related Persons, and each Lender and each of its respective officers, directors, employees, counsel, representatives, agents and attorneys-in-fact (each, an
“Indemnified Person”) harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, charges, expenses and disbursements (including Attorney Costs) of any kind or nature
whatsoever (excluding such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, charges, expenses and disbursements arising solely from disputes between or among Agent and/or Lenders) which may at any time
(including at any time following repayment of the Loans and the termination, resignation or replacement of the Agent or replacement of any Lender) be imposed on, incurred by or asserted against any such Person in any way relating to or arising out
of this Agreement or any document contemplated by or referred to herein, or the transactions contemplated hereby, or any action taken or omitted by any such Person under or in connection with any of the foregoing, including with respect to any
investigation, litigation or proceeding (including any Insolvency Proceeding or appellate proceeding) related to or arising out of this Agreement, any other Loan Document, or the Loans or the use of the proceeds thereof, whether or not any
Indemnified Person is a party thereto (all the foregoing, collectively, the “Indemnified Liabilities”); provided, that the Borrowers shall have no obligation hereunder to any Indemnified Person to the extent that any such
Indemnified Liability results from that Indemnified Person’s gross negligence or willful misconduct. The agreements in this Section shall survive payment of all other Obligations. 

(b)        The Borrowers agree, jointly and severally, to
indemnify, defend and hold harmless the Agent and the Lenders from any loss or liability directly or indirectly arising out of the use, generation, manufacture, production, storage, release, threatened release, discharge, disposal or presence of a
hazardous substance relating to the Borrowers’ operations, business or property. This indemnity will apply whether the hazardous substance is on, under or about the Borrowers’ property or operations or property leased to the Borrowers. The
indemnity includes but is not limited to Attorneys Costs. The indemnity extends to the Agent and the Lenders, their parents, affiliates, subsidiaries and all of their directors, officers, employees, agents, successors, attorneys and assigns.
“Hazardous substances” means any substance, material or waste that is or becomes designated or regulated as “toxic,” “hazardous,” “pollutant,” or “contaminant” or a similar designation or regulation
under any federal, state or local law (whether under common law, statute, regulation or otherwise) or judicial or administrative interpretation of such, including petroleum or natural gas. This indemnity will survive repayment of all other
Obligations. 
 13.12 Limitation of Liability. NO CLAIM MAY BE MADE BY THE BORROWERS, ANY LENDER OR
OTHER PERSON AGAINST THE AGENT, ANY LENDER, OR THE AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES, COUNSEL, REPRESENTATIVES, AGENTS OR ATTORNEYS-IN-FACT OF ANY OF THEM FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES IN RESPECT OF

  
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ANY CLAIM FOR BREACH OF CONTRACT OR ANY OTHER THEORY OF LIABILITY ARISING OUT OF OR RELATED TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY ACT, OMISSION OR
EVENT OCCURRING IN CONNECTION THEREWITH, AND THE BORROWERS AND EACH LENDER HEREBY WAIVE, RELEASE AND AGREE NOT TO SUE UPON ANY CLAIM FOR SUCH DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR. 

13.13 Final Agreement. This Agreement and the other Loan Documents are intended by the Borrowers, the Agent and
the Lenders to be the final, complete, and exclusive expression of the agreement between them. This Agreement supersedes any and all prior oral or written agreements relating to the subject matter hereof except for that certain “fee
letter” dated September 24, 2010 between the Borrower Representative and the Agent. No modification, rescission, waiver, release, or amendment of any provision of this Agreement or any other Loan Document shall be made, except by a written
agreement signed by the Borrowers and a duly authorized officer of each of the Agent and the requisite Lenders. 
 13.14 Counterparts. This Agreement may be executed in any number of counterparts, and by the Agent, each Lender and the Borrowers in separate counterparts, each of which shall be an original, but
all of which shall together constitute one and the same agreement; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document.

 13.15 Captions. The captions contained in this Agreement are for convenience of reference only, are
without substantive meaning and should not be construed to modify, enlarge, or restrict any provision. 
 13.16
Right of Setoff. In addition to any rights and remedies of the Lenders provided by law, if an Event of Default exists or the Loans have been accelerated, each Lender is authorized at any time and from time to time, without prior notice to the
Borrowers, any such notice being waived by the Borrowers to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by, and other indebtedness at any
time owing by, such Lender or any Affiliate of such Lender to or for the credit or the account of the Borrowers against any and all Obligations owing to such Lender, now or hereafter existing, irrespective of whether or not the Agent or such Lender
shall have made demand under this Agreement or any Loan Document and although such Obligations may be contingent or unmatured. Each Lender agrees promptly to notify the Borrowers and the Agent after any such set-off and application made by such
Lender; provided, however, that the failure to give such notice shall not affect the validity of such set-off and application. NOTWITHSTANDING THE FOREGOING, NO LENDER SHALL EXERCISE ANY RIGHT OF SET-OFF, BANKER’S LIEN, OR THE
LIKE AGAINST ANY DEPOSIT ACCOUNT OR PROPERTY OF THE BORROWERS HELD OR MAINTAINED BY SUCH LENDER WITHOUT THE PRIOR WRITTEN UNANIMOUS CONSENT OF THE LENDERS. 
 13.17 Confidentiality. 

  
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 (a)       The Borrowers
hereby consent that the Agent and each Lender may issue and disseminate to the public general information describing the credit accommodation entered into pursuant to this Agreement, including the name and address of the Borrowers and a general
description of the Borrowers’ business and may use the Borrowers’ names in advertising and other promotional material. 
 (b)       Each Lender severally agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as
“confidential” or “secret” by the Borrowers and provided to the Agent or such Lender by or on behalf of the Borrowers, under this Agreement or any other Loan Document, except to the extent that such information (i) was or
becomes generally available to the public other than as a result of disclosure by the Agent or such Lender, or (ii) was or becomes available on a nonconfidential basis from a source other than the Borrowers, provided that such source is not
bound by a confidentiality agreement with the Borrowers known to the Agent or such Lender; provided, however, that the Agent and any Lender may disclose such information (1) at the request or pursuant to any requirement of any
Governmental Authority to which the Agent or such Lender is subject or in connection with an examination of the Agent or such Lender by any such Governmental Authority; (2) pursuant to subpoena or other court process; (3) when required to
do so in accordance with the provisions of any applicable Requirement of Law; (4) to the extent reasonably required in connection with any litigation or proceeding (including, but not limited to, any bankruptcy proceeding) to which the Agent,
any Lender or their respective Affiliates may be party; (5) to the extent reasonably required in connection with the exercise of any remedy hereunder or under any other Loan Document; (6) to the Agent’s or such Lender’s
independent auditors, accountants, attorneys and other professional advisors; (7) to any prospective Participant or Assignee under any Assignment and Acceptance, actual or potential, provided that such prospective Participant or Assignee agrees
to keep such information confidential to the same extent required of the Agent and the Lenders hereunder; (8) as expressly permitted under the terms of any other document or agreement regarding confidentiality to which the Borrowers are party
or are deemed party with the Agent or such Lender, and (9) to its Affiliates. 
 Notwithstanding anything
herein to the contrary, confidential information shall not include, and Agent and each Lender (and each employee, representative or other agent of any Lender) may disclose to any and all Persons, without limitation of any kind, the “tax
treatment” and “tax structure” (in each case, within the meaning of Treasury Regulation Section 1.6011-4) of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses) that are
or have been provided to Agent or such Lender relating to such tax treatment or tax structure; provided that with respect to any document or similar item that in either case contains information concerning such tax treatment or tax structure
of the transactions contemplated hereby as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to such tax treatment or tax structure. 

  
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 13.18   Conflicts with Other Loan Documents. Unless
otherwise expressly provided in this Agreement (or in another Loan Document by specific reference to the applicable provision contained in this Agreement), if any provision contained in this Agreement conflicts with any provision of any other Loan
Document, the provision contained in this Agreement shall govern and control. 
 13.19   Patriot
Act Notice. Each Lender subject to the USA Patriot Act of 2001 (31 U.S.C. 5318 et seq.) hereby notifies the Borrowers that, pursuant to Section 326 thereof, it is required to obtain, verify and record information that identifies the
Borrowers, including the name and address of the Borrowers and other information allowing such Lender to identify the Borrowers in accordance with such act. 
 ARTICLE 14 
 THE BORROWER REPRESENTATIVE 

14.1   Appointment; Nature of Relationship. Omnova is hereby appointed by each of the Borrowers as its
contractual representative (herein referred to as the “Borrower Representative”) hereunder and under each other Loan Document, and each of the Borrowers irrevocably authorizes the Borrower Representative to act as the contractual
representative of such Borrower with the rights and duties expressly set forth herein and in the other Loan Documents. The Borrower Representative agrees to act as such contractual representative upon the express conditions contained in this
Article 14. Additionally, the Borrowers hereby appoint the Borrower Representative as their agent to receive all of the proceeds of the Loans in the account(s) designated by the Borrower Representative, at which time the Borrower
Representative shall promptly disburse such Loans to the appropriate Borrower. The Agent and the Lenders, and their respective officers, directors, agents or employees, shall not be liable to the Borrower Representative or any Borrower for any
action taken or omitted to be taken by the Borrower Representative or the Borrowers pursuant to this Section 14.1. 
 14.2   Powers. The Borrower Representative shall have and may exercise such powers under the Loan Documents as are specifically delegated to the Borrower Representative by the terms of
each thereof, together with such powers as are reasonably incidental thereto. The Borrower Representative shall have no implied duties to the Borrowers, or any obligation to the Lenders to take any action thereunder except any action specifically
provided by the Loan Documents to be taken by the Borrower Representative. 
 14.3   Employment of
Agents. The Borrower Representative may execute any of its duties as the Borrower Representative hereunder and under any other Loan Document by or through authorized officers. 

14.4   Notices. Each Borrower shall immediately notify the Borrower Representative of the occurrence of
any Default or Event of Default and stating that such notice is a “notice of default.” In the event that the Borrower Representative receives such a notice, the Borrower Representative shall give prompt notice thereof to the Agent and the
Lenders. Any notice provided to the Borrower Representative hereunder shall constitute notice to each Borrower on the date received by the Borrower Representative. 

  
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 14.5    Execution of Borrowing Base Certificate and
Compliance Certificate. The Borrowers hereby empower and authorize the Borrower Representative, on behalf of the Borrowers, to execute and deliver to the Agent and the Lenders, the Borrowing Base Certificates and the Compliance Certificates.
Each Borrower agrees that any action taken by the Borrower Representative or the Borrowers in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Borrower Representative of its powers set forth therein or
herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Borrowers. 
 14.6    Reporting. Each Borrower hereby agrees that such Borrower shall furnish promptly after each fiscal month to the Borrower Representative a copy of its Borrowing Base
Certificate and any other certificate or report required hereunder or requested by the Borrower Representative on which the Borrower Representative shall rely to prepare the Borrowing Base Certificates and Compliance Certificates required pursuant
to the provisions of this Agreement. 
 ARTICLE 15 
 CROSS-GUARANTY 

15.1    Guaranty. Each Borrower hereby agrees that it is jointly and severally liable for,
and absolutely and unconditionally guarantees to the Lenders, the prompt payment when due, whether at stated maturity, upon acceleration or otherwise, and at all times thereafter, all of the Obligations and all costs and expenses including, without
limitation, all court costs and attorneys’ and paralegals’ fees (including allocated costs of in-house counsel and paralegals) and expenses paid or incurred by the Agent and the Lenders in endeavoring to collect all or any part of the
Obligations from, or in prosecuting any action against, any Borrower or any other guarantor of all or any part of the Obligations (such costs and expenses, together with the Obligations, collectively the “Guaranteed Obligations”).
Each Borrower further agrees that the Guaranteed Obligations may be extended or renewed in whole or in part without notice to or further assent from it, and that it remains bound upon its guarantee notwithstanding any such extension or renewal. All
terms of this Article 15 apply to and may be enforced by or on behalf of any domestic or foreign branch or Affiliate of any Lender that extended any portion of the Guaranteed Obligations. 

15.2    Guaranty of Payment. The guaranty under this Article 15 is a guaranty of
payment and not of collection. Each Borrower waives any right to require the Agent or any Lender to sue any other Borrower, any other guarantor, or any other person obligated for all or any part of the Guaranteed Obligations (each, an
“Obligated Party”), or otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed Obligations. 
 15.3    No Discharge or Diminishment of Cross-Guaranty. (a) Except as otherwise provided for herein, the obligations of each Borrower hereunder are unconditional and
absolute and not subject to any reduction, limitation, impairment or termination for any reason (other than the indefeasible payment in full in cash of the Guaranteed Obligations), including: (i) any claim of waiver, release, extension,
renewal, settlement, surrender, alteration, or compromise of any of the Guaranteed Obligations, by operation of law or otherwise; (ii) any change in the corporate existence, structure or ownership of any Borrower or any other guarantor of or
other person liable for any of the Guaranteed Obligations; (iii) any insolvency, bankruptcy, 

  
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reorganization or other similar proceeding affecting any Obligated Party, or their assets or any resulting release or discharge of any obligation of any Obligated Party; or (iv) the
existence of any claim, setoff or other rights which any Borrower may have at any time against any Obligated Party, the Agent, any Lender, or any other person, whether in connection herewith or in any unrelated transactions. 

(b)       The obligations of each Borrower hereunder are not subject
to any defense or setoff, counterclaim, recoupment, or termination whatsoever by reason of the invalidity, illegality, or unenforceability of any of the Guaranteed Obligations or otherwise, or any provision of applicable law or regulation purporting
to prohibit payment by any Obligated Party, of the Guaranteed Obligations or any part thereof. 

(c)       Further, the obligations of any Borrower hereunder are not
discharged or impaired or otherwise affected by: (i) the failure of the Agent, or any Lender to assert any claim or demand or to enforce any remedy with respect to all or any part of the Guaranteed Obligations; (ii) any waiver or
modification of or supplement to any provision of any agreement relating to the Guaranteed Obligations; (iii) any release, non-perfection, or invalidity of any indirect or direct security for the obligations of any Borrower for all or any part
of the Guaranteed Obligations or any obligations of any other guarantor of or other person liable for any of the Guaranteed Obligations; (iv) any action or failure to act by the Agent or any Lender with respect to any collateral securing any
part of the Guaranteed Obligations; or (v) any default, failure or delay, willful or otherwise, in the payment or performance of any of the Guaranteed Obligations, or any other circumstance, act, omission or delay that might in any manner or to
any extent vary the risk of such Borrower or that would otherwise operate as a discharge of any Borrower as a matter of law or equity (other than the indefeasible payment in full in cash of the Guaranteed Obligations). 

15.4   Defenses Waived. To the fullest extent permitted by applicable law, each Borrower hereby waives
any defense based on or arising out of any defense of any Borrower or the unenforceability of all or any part of the Guaranteed Obligations from any cause, or the cessation from any cause of the liability of any Borrower, other than the indefeasible
payment in full in cash of the Guaranteed Obligations. Without limiting the generality of the foregoing, each Borrower irrevocably waives acceptance hereof, presentment, demand, protest and, to the fullest extent permitted by law, any notice not
provided for herein, as well as any requirement that at any time any action be taken by any person against any Obligated Party, or any other person. Each Borrower confirms that it is not a surety under any state law and shall not raise any such law
as a defense to its obligations hereunder. The Agent may, at its election, foreclose on any Collateral held by it by one or more judicial or nonjudicial sales, accept an assignment of any such Collateral in lieu of foreclosure or otherwise act or
fail to act with respect to any collateral securing all or a part of the Guaranteed Obligations, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with any Obligated Party or exercise any other right or remedy
available to it against any Obligated Party, without affecting or impairing in any way the liability of such Borrower under this Article 15 except to the extent the Guaranteed Obligations have been fully and indefeasibly paid in cash. To the
fullest extent 

  
 90 

 
permitted by applicable law, each Borrower waives any defense arising out of any such election even though that election may operate, pursuant to applicable law, to impair or extinguish any right
of reimbursement or subrogation or other right or remedy of any Borrower against any Obligated Party or any security. 
 15.5    Rights of Subrogation. No Borrower will assert any right, claim or cause of action, including, without limitation, a claim of subrogation, contribution or
indemnification that it has against any Obligated Party, or any collateral, until the Borrowers have fully performed all their obligations to the Agent and the Lenders. 

15.6    Reinstatement; Stay of Acceleration. If at any time any payment of any portion of the
Guaranteed Obligations is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, or reorganization of any Borrower or otherwise, each Borrower’s obligations under this Article 15 with respect to that payment
shall be reinstated at such time as though the payment had not been made and whether or not the Agent and the Lenders are in possession of this Agreement. If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon
the insolvency, bankruptcy or reorganization of any Borrower, all such amounts otherwise subject to acceleration under the terms of any agreement relating to the Guaranteed Obligations shall nonetheless be payable by the other Borrowers forthwith on
demand by the Lender. 
 15.7    Information. Each Borrower assumes all
responsibility for being and keeping itself informed of the Borrowers’ financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the
risks that each Borrower assumes and incurs under this Article 15, and agrees that neither the Agent nor any Lender shall have any duty to advise any Borrower of information known to it regarding those circumstances or risks. 

15.8    Maximum Liability. The provisions of this Article 15 are severable, and in any
action or proceeding involving any state corporate law, or any state, federal or foreign bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of any Borrower under this Article 15
would otherwise be held or determined to be avoidable, invalid or unenforceable on account of the amount of such Borrower’s liability under this Article 15, then, notwithstanding any other provision of this Article 15 to the
contrary, the amount of such liability shall, without any further action by the Borrowers or the Lenders, be automatically limited and reduced to the highest amount that is valid and enforceable as determined in such action or proceeding (such
highest amount determined hereunder being the relevant Borrower’s “Maximum Liability”. This Section with respect to the Maximum Liability of each Borrower is intended solely to preserve the rights of the Lenders to the maximum extent
not subject to avoidance under applicable law, and no Borrower nor any other person or entity shall have any right or claim under this Article 15 with respect to such Maximum Liability, except to the extent necessary so that the obligations
of any Borrower hereunder shall not be rendered voidable under applicable law. Each Borrower agrees that the Guaranteed Obligations may at any time and from time to time exceed the Maximum Liability of each Borrower without impairing this Article
15 or affecting the rights and remedies of the Agent and Lenders hereunder, provided that, nothing in this sentence shall be construed to increase any Borrower’s obligations hereunder beyond its Maximum Liability. 

  
 91 

 15.9    Contribution. In the event any Borrower
(a “Paying Guarantor”) shall make any payment or payments under this Article 15 or shall suffer any loss as a result of any realization upon any collateral granted by it to secure its obligations under this Article 15,
each other Borrower (each a “Non-Paying Guarantor”) shall contribute to such Paying Guarantor an amount equal to such Non-Paying Guarantor’s “Applicable Percentage” of such payment or payments made, or losses
suffered, by such Paying Guarantor. For purposes of this Article X, each Non-Paying Guarantor’s “Applicable Percentage” with respect to any such payment or loss by a Paying Guarantor shall be determined as of the date on which such
payment or loss was made by reference to the ratio of (i) such Non-Paying Guarantor’s Maximum Liability as of such date (without giving effect to any right to receive, or obligation to make, any contribution hereunder) or, if such
Non-Paying Guarantor’s Maximum Liability has not been determined, the aggregate amount of all monies received by such Non-Paying Guarantor from the other Borrowers after the date hereof (whether by loan, capital infusion or by other means) to
(ii) the aggregate Maximum Liability of all Borrowers hereunder (including such Paying Guarantor) as of such date (without giving effect to any right to receive, or obligation to make, any contribution hereunder), or to the extent that a
Maximum Liability has not been determined for any Borrower, the aggregate amount of all monies received by such Borrowers from the other Borrowers after the date hereof (whether by loan, capital infusion or by other means). Nothing in this provision
shall affect any Borrower’s several liability for the entire amount of the Guaranteed Obligations (up to such Borrower’s Maximum Liability). Each of the Borrowers covenants and agrees that its right to receive any contribution under this
Article 15 from a Non-Paying Guarantor shall be subordinate and junior in right of payment to the payment in full in cash of the Guaranteed Obligations. This provision is for the benefit of both the Agent, the Lenders and the Borrowers and
may be enforced by any one, or more, or all of them in accordance with the terms hereof. 

15.10  Liability Cumulative. The liability of each
Borrower under this Article 15 is in addition to and shall be cumulative with all liabilities of each Borrower to the Agent and the Lenders under this Agreement and the other Loan Documents to which such Borrower is a party or in respect of
any obligations or liabilities of the other Borrowers, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability specifically provides to the contrary. 

ARTICLE 16 

AMENDMENT AND RESTATEMENT 
 16.1    Interrelationship with the Prior Credit Agreement. As stated in the preamble hereof, this Agreement is intended to amend and restate the provisions of the Prior Credit
Agreement and, except as expressly modified herein, (x) all of the terms and provisions of the Prior Credit Agreement shall continue to apply for the period prior to the Closing Date, including any determinations of payment dates, interest
rates, Events of Default or any amount that may be payable to Agent or the Lenders, (y) the Obligations under (and as defined in) the Prior Credit Agreement shall continue to be paid or prepaid on or prior to the Closing Date in accordance with
the terms of the Prior Credit Agreement, and shall from and after the Closing Date continue to be owing as Obligations hereunder and be subject to the terms of this Agreement and (z) this Agreement shall not be deemed to evidence or result in a
novation or repayment of the Revolving Loans under (and as defined in) the Prior Credit Agreement and reborrowing hereunder, but obligations under the Prior Credit Agreement and Liens securing 

  
 92 

 
payment and performance thereof shall in all respects be continuing as Obligations under this Agreement and Liens securing payment and performance thereof. All “Letters of Credit” under
(and as defined in) the Prior Credit Agreement and outstanding on the date hereof shall continue as Letters of Credit under this Agreement. All references in the other Loan Documents and the Loan Documents executed in connection with the Prior
Credit Agreement to (i) the Prior Credit Agreement or the “Credit Agreement” shall be deemed to include references to this Agreement and all amendments, restatements and modifications to this Agreement and (ii) the
“Lenders” or a “Lender” or to the “Agent” shall mean such terms as defined in this Agreement. All Obligations of Omnova under the Prior Credit Agreement shall be governed by this Agreement from and after the Closing
Date. The Loan Documents delivered in connection with this Agreement shall supersede the corresponding Loan Documents delivered in connection with the Prior Credit Agreement. The Loan Documents executed in connection with the Prior Credit Agreement
that are not superseded by corresponding Loan Documents executed and delivered in connection with this Agreement shall remain in full force and effect. All references to the Prior Credit Agreement in the Loan Documents executed in connection with
the Prior Credit Agreement that are not expressly superseded by deliveries of such new Loan Documents shall be deemed to refer to this Agreement and all amendments, restatements and modifications to this Agreement. 

[Signature Page Follows] 

  
 93 

 IN WITNESS WHEREOF, the parties have entered into this Agreement on the
date first above written. 
  

			
	“BORROWERS”
	
	OMNOVA SOLUTIONS INC.
		
	By:	 	 /s/ Chet Fox

	Title:	 	VP Treasurer
	
	ELIOKEM, INC.
		
	By:	 	 /s/ Chet Fox

	Title:	 	Authorized Signatory

 [Signature Page
to Second Amended and Restated Credit Agreement] 

 
			
	“AGENT”
	
	JPMORGAN CHASE BANK, N.A., as the Agent
		
	By:	 	 Illegible

	Title:	 	Vice President

 [Signature Page to
Second Amended and Restated Credit Agreement] 

 
			
	“LENDERS”
	
	JPMORGAN CHASE BANK, N.A., as a Lender
		
	By:	 	 Illegible

	Title:	 	Vice President

  
 [Signature
Page to Second Amended and Restated Credit Agreement] 

 
			
	PNC BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 Illegible

	Title:	 	Vice President

  
 [Signature
Page to Second Amended and Restated Credit Agreement] 

 
			
	KEYBANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ John P. Dunn

	Title:	 	John P. Dunn – Vice President

  
 [Signature
Page to Second Amended and Restated Credit Agreement] 

 ANNEX A 
 to 
 Credit Agreement 

Definitions 
 Capitalized terms used in the Loan Documents shall have the following respective meanings (unless otherwise defined therein), and all section references in the following definitions shall refer to
sections of the Agreement: 
 “Accounts” means all of the Borrowers’ now owned or
hereafter acquired or arising accounts, as defined in the UCC, including any rights to payment for the sale or lease of goods or rendition of services, whether or not they have been earned by performance. 

“Account Debtor” means each Person obligated in any way on or in connection with an Account, Chattel
Paper or General Intangibles (including a payment intangible). 
 “ACH Transactions” means any
cash management or related services including the automatic clearing house transfer of funds by the Bank for the account of the Borrowers pursuant to agreement or overdrafts. 

“Acquired Business” shall mean the business of Eliokem International, a French société
par actions simplifiée together with its Subsidiaries. 
 “Acquired Business Existing
Indebtedness” shall mean (i) that certain senior facility agreement dated as of October 10, 2006, as amended, restated, supplemented or otherwise modified from time to time, between the Acquired Business and Société
Générale as security agent and issuing bank; (ii) that certain mezzanine facility agreement dated as of October 10, 2006, as amended, restated, supplemented or otherwise modified from time to time, between the Acquired
Business and Société Générale as agent and security agent; and (iii) the Acquired Business’s 10.0% Convertible Bonds. 
 “Acquisition” means Omnova’s acquisition of all of the equity interests in the Acquired Business. 

“Acquisition Agreement” means that certain Sale and Purchase Agreement dated November 22, 2010
(including all schedules and exhibits thereto) among Omnova and the respective owner of each ordinary share of Eliokem International, a French société par actions simplifiée.  

“Acquisition Documents” means the Acquisition Agreement and all documents, agreements and instruments
executed in connection therewith. 
 “Additional Commitment” has the meaning specified in
Section 1.2(j). 
 “Adjusted Eurodollar Rate” means, with respect to any
Eurodollar Revolving Loan for any Interest Period or for any CBFR Revolving Loan, an interest rate per annum 

  
 Annex A-1

 
(rounded upwards, if necessary, to the next 1/16 of 1%) equal to the Eurodollar Rate for such Interest Period. 

“Adjusted One Month Eurodollar Rate” means an interest rate per annum equal to the sum of
(i) 2.5% per annum plus (ii) the Adjusted Eurodollar Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the
Adjusted Eurodollar Rate for any day shall be based on the rate appearing on the Reuters Screen LIBOR01 Page (or any successor or substitute page) at approximately 11:00 a.m. London time on such day (without any rounding). 

“Affiliate” of any Person means any other Person directly or indirectly controlling, controlled by or
under common control with such Person. A Person shall be deemed to control another Person if the controlling Person owns 10% or more of any class of voting securities (or other ownership interests) of the controlled Person or possesses, directly or
indirectly, the power to direct or cause the direction of the management or policies of the controlled Person, whether through ownership of stock, by contract or otherwise. 

“Agent” means the Bank, solely in its capacity as agent for the Lenders, and any successor agent.

 “Agent Advances” has the meaning specified in Section 1.2(i). 

“Agent’s Liens” means the Liens in the Collateral granted to the Agent, for the benefit of the
Lenders, Bank, and Agent pursuant to this Agreement and the other Loan Documents. 
 “Agent-Related
Persons” means the Agent, together with its Affiliates, and the officers, directors, employees, counsel, representatives, agents and attorneys-in-fact of the Agent and such Affiliates. 

“Aggregate Revolver Outstandings” means, at any date of determination: the sum of (a) the unpaid
balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid
reimbursement obligations in respect of Letters of Credit. 
 “Agreement” means the Credit
Agreement to which this Annex A is attached, as from time to time amended, modified or restated. 

“Anniversary Date” means each anniversary of the Closing Date. 

“Applicable Margin” means, 

(i)    with respect to CBFR Revolving Loans and all other Obligations, 1.25%; 

(ii)   with respect to Eurodollar Revolving Loans, 2.25%; 

  
 Annex A-2

	 	(iii)	 with respect to the Letter of Credit Fee, the Applicable Margin for Eurodollar Revolving Loans; and 

 

	 	(iv)	with respect to the Unused Line Fee, 0.625%. 

 The Applicable Margins shall be adjusted (up or down) on a quarterly basis as determined by the Borrowers’ average daily Availability for the Fiscal Quarter then ending and shall be effective on the
first day of each Fiscal Quarter (commencing with the Fiscal Quarter commencing March 1, 2011). Adjustments in Applicable Margins shall be determined by reference to the following grid: 

 

							
	If the Average Daily
Availability
is:	 	 Eurodollar Revolving
 Loans
 Applicable Margins:
	 	 CBFR Revolving
 Loans Applicable
 Margins:
	 	Unused Line Fee
	
        
	 	 	 	 	 	 
	 	 	2.25%	 	1.25%	 	0.625%
	
3$50,000,000
	 		 		 	 
	
    
	 	 	 	 	 	 
	 	 	2.50%	 	1.50%	 	0.50%
	 < $50,000,000 but
	 		 		 	 
	
3$25,000,000
	 		 		 	 
	
    
	 	 	 	 	 	 
	 	 	2.75%	 	1.75%	 	0.375%
	 < $25,000,0000
	 		 		 	 
	
    
	 	 	 	 	 	 

 If Borrower Representative fails to deliver the Borrowing Base Certificate to the Agent at the time required pursuant to Section 5.2(k), then the Applicable Margins shall be the highest level
set forth in the foregoing grid until five days after such Borrowing Base Certificate is so delivered. If a Default or Event of Default has occurred and is continuing at the time any reduction in the Applicable Margins is to be implemented, no
reduction may occur until the first day of the first Fiscal Quarter following the date on which such Default or Event of Default is waived or cured. 
 “Appraisal” means an appraisal delivered to Agent prior to the Closing Date and thereafter pursuant to Section 5.4, in each case setting forth the Net Orderly Liquidation
Value of Inventory in form and substance acceptable to Agent and performed by an appraiser acceptable to Agent. 

  
 Annex A-3

 “Asian Latex Businesses” shall mean those businesses in
Asia with which Omnova or any of its Subsidiaries shall have entered into joint venture or similar agreements relating to making investments in assets to produce emulsion polymers, including styrene butadiene latex. 

“Assignee” has the meaning specified in Section 11.2(a). 

“Assignment and Acceptance” has the meaning specified in Section 11.2(a). 

“Attorney Costs” means and includes all reasonable fees, expenses and disbursements of any law firm or
other counsel engaged by the Agent, the reasonably allocated costs and expenses of internal legal services of the Agent. 
 “Availability” means, at any time (a) the lesser of (i) the Maximum Revolver Amount or (ii) the Borrowing Base, minus (b) Reserves other than Reserves deducted
in the calculation of the Borrowing Base, minus (c) in each case, the Aggregate Revolver Outstandings, minus (d) in each case, solely for purposes of calculating Availability under the last sentence of
Section 7.14 at the time of, and after giving effect to, any excess cash flow payment required to be made under the terms of the Term Loan Agreement, the amount of $5,000,000. 

“Bank” means JPMorgan Chase Bank, N.A., a national banking association having its principal office in
Chicago, Illinois, in its individual capacity, and its successors. 
 “Bank Products” means
any one or more of the following types of services or facilities extended to a Borrower by the Bank or any Affiliate of the Bank (or, subject to Agent’s receipt of prior or simultaneous written notice (pursuant to electronic mail or other
written form) in accordance with Section 1.4 of the Agreement, by any Lender or by any Affiliate of such Lender) in reliance on the Bank’s (or such Lender’s) agreement to indemnify such Affiliate: (i) credit cards
(including, without limitation, “commercial credit cards” and purchasing cards); (ii) stored value cards; (iii) treasury management service (including, without limitation, controlled disbursements, automated clearinghouse
transactions, return items, overdrafts and interstate depository network services); and (iv) leases. 

“Bank Product Reserves” means all reserves which the Agent from time to time establishes in its
reasonable discretion for outstanding Bank Products and/or Hedge Agreements. 
 “Bankruptcy
Code” means Title 11 of the United States Code (11 U.S.C. § 101 et seq.). 

“Blocked Account Agreement” means an agreement among a Borrower, the Agent and a Clearing Bank, in form
and substance reasonably satisfactory to the Agent, concerning the collection of payments which represent the proceeds of Accounts or of any other Collateral. 
 “Board” means the Board of Governors of the Federal Reserve System of the United States of America. 

  
 Annex A-4

 “Borrower Representative” means Omnova, in its capacity as
contractual representative of the Borrowers pursuant to Article 14. 
 “Borrowing” means a
borrowing hereunder consisting of Revolving Loans made on the same day by the Lenders to the Borrowers or by the Bank in the case of a Borrowing funded by Swing Line Loans or by the Agent in the case of a Borrowing consisting of an Agent Advance, or
the issuance of Letters of Credit hereunder. 
 “Borrowing Base” means, at any time an amount
equal to (a) the sum of (i) up to eighty-five percent (85%) of the Net Amount of Eligible Accounts; plus (ii) the lesser of (A) up to sixty-five percent (65%) of the book value of Eligible Inventory consisting of
raw materials and finished goods (valued at the lower of cost (first-in, first-out) or market)) or (B) up to eighty-five percent (85%) of the Net Orderly Liquidation Value Factor (based on the most recent Appraisal) multiplied by the book
value of Eligible Inventory consisting of raw materials and finished goods (valued at the lower of cost (first-in, first-out) or market); minus (b) Reserves from time to time established by the Agent in its reasonable credit judgment.

 “Borrowing Base Certificate” means a certificate by a Responsible Officer of the Borrower
Representative, substantially in the form of Exhibit B (or another form acceptable to the Agent) setting forth the calculation of the Borrowing Base, including a calculation of each component thereof, all in such detail as shall be reasonably
satisfactory to the Agent. All calculations of the Borrowing Base in connection with the preparation of any Borrowing Base Certificate shall originally be made by the Borrowers and certified to the Agent; provided, that the Agent shall have the
right to review and adjust, in the exercise of its reasonable credit judgment, any such calculation (1) to reflect its reasonable estimate of declines in value of any of the Collateral described therein, and (2) to the extent that such
calculation is not in accordance with this Agreement. 
 “Borrowing Request” means a request
by the Borrower Representative for a Borrowing in accordance with Section 1.2. 
 “Business
Day” means (i) with respect to any borrowing, payment or rate selection of Eurodollar Revolving Loans, a day (other than a Saturday or Sunday) on which banks generally are open in Chicago and New York City for the conduct of
substantially all of their commercial lending activities, interbank wire transfers can be made on the Fedwire system and dealings in United States dollars are carried on in the London interbank market and (ii) for all other purposes, a day
(other than a Saturday or Sunday) on which banks generally are open in Chicago for the conduct of substantially all of their commercial lending activities and interbank wire transfers can be made on the Fedwire system. 

“Capital Adequacy Regulation” means any guideline, request or directive of any central bank or other
Governmental Authority, or any other law, rule or regulation, whether or not having the force of law, in each case, regarding capital adequacy of any bank or of any corporation controlling a bank. 

“Capital Expenditures” means, with respect to any fiscal period of Borrowers, all payments made in such
period in respect of the cost of any fixed asset or improvement, or 

  
 Annex A-5

 
replacement, substitution, or addition thereto, which has a useful life of more than one year, including, without limitation, those costs arising in connection with the direct or indirect
acquisition of such asset by way of increased product or service charges or in connection with a Capital Lease. 
 “Capital Lease” means any lease of property by the Borrowers and their Subsidiaries which, in accordance with GAAP, should be reflected as a capital lease on the balance sheet of the
Borrowers and their Subsidiaries. 
 “Cash Equivalents” shall mean (i) securities issued
or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality thereof (provided that the full faith and credit of the United States of America is pledged in support thereof) having maturities of
not more than one year from the date of acquisition, (ii) U.S. dollar denominated time deposits, certificates of deposit and bankers acceptances of (x) any Lender and (y) any bank which has, or whose parent company has, a short-term
commercial paper rating from S&P of at least A-1 or the equivalent thereof or from Moody’s of at least P-1 or the equivalent thereof (any such bank or Lender, an “Approved Bank”), in each case with maturities of not more than one
year from the date of acquisition, (iii) commercial paper issued by any Approved Bank or by the parent company of any Approved Bank and commercial paper issued by, or guaranteed by, any company with a short-term commercial paper rating of at
least A-1 or the equivalent thereof by S&P or at least P-1 or the equivalent thereof by Moody’s, or guaranteed by any company with a long term unsecured debt rating of at least A or A2, or the equivalent of each thereof, from S&P or
Moody’s, as the case may be, and in each case maturing within six months after the date of acquisition, (iv) marketable direct obligations issued by any state of the United States of America or any political subdivision of any such state
or any public instrumentality thereof maturing within one year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either S&P or Moody’s and (v) investments in
money market funds substantially all the assets of which are comprised of securities of the types described in clauses (i) through (iv) above. 
 “CB Floating Rate” means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month Eurodollar Rate for a one month Interest Period on such day (or
if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month Eurodollar Rate shall be effective from and including the effective date of
such change in the Prime Rate or the Adjusted One Month Eurodollar Rate, respectively. 
 “CBFR
Revolving Loan” means a Revolving Loan during any period in which it bears interest at a rate determined by reference to the CB Floating Rate. 
 “CFC” shall mean a Person that is a controlled foreign corporation under Section 957 of the Code. 

“Change of Control” means any of the following: (a) any person or group of persons (within the
meaning of the Securities Exchange Act of 1934) shall have acquired beneficial ownership (within the meaning of Rule 13d-3 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934) of 20% or more of the issued

  
 Annex A-6

 
and outstanding shares of capital stock of Omnova having the right to vote for the election of directors of Omnova under ordinary circumstances; (b) during any period of twelve consecutive
calendar months, individuals who at the beginning of such period constituted the board of directors of Omnova (together with any new directors whose election by the board of directors of Omnova or whose nomination for election by the stockholders of
Omnova was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason other
than death or disability to constitute a majority of the directors then in office; (c) Omnova ceases to own and control, directly or indirectly, all of the economic and voting rights associated with all of the outstanding equity of any of its
Subsidiaries, except as permitted by Section 7.9; or (d) any “Change of Control” (as such term is defined in the Term Loan Agreement and Senior Note Documents). 

“Chattel Paper” means all of the Borrowers’ now owned or hereafter acquired chattel paper, as
defined in the UCC, including electronic chattel paper. 
 “Clearing Bank” means the Bank or
any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement. 
 “Closing Date” means December 9, 2010. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral” means all of the assets of the Borrowers and their Domestic Subsidiaries that guaranty the
Obligations, whether consisting of personal, tangible or intangible property, (including all of the outstanding shares of capital stock of Eliokem and the Borrowers’ Domestic Subsidiaries). 

“Commercial LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all
outstanding commercial Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements relating to commercial Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Commercial
LC Exposure of any Revolving Lender at any time shall be its Pro Rata Share of the total Commercial LC Exposure at such time. 
 “Commitment” means, at any time with respect to a Lender, the principal amount of Revolving Loans set forth beside such Lender’s name under the heading “Commitment”
on Schedule 1.2 attached to the Agreement or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 11.2, as such Commitment may
be adjusted from time to time in accordance with the provisions of Section 1.2(j), Section 3.3(d) and Section 11.2, and “Commitments” means, collectively, the aggregate amount of the commitments
of all of the Lenders. 
 “Consolidated EBITDA” shall mean, for any period, the sum of
Consolidated Net Income for such period plus, without duplication, the following to the extent deducted in calculating such Consolidated Net Income: 

  
 Annex A-7

 (1)      Interest Expense; 

(2)      income tax expense determined on a consolidated basis in accordance with GAAP; 

(3)      depreciation expense determined on a consolidated basis in accordance with GAAP; 

(4)      amortization expense determined on a consolidated basis in accordance with GAAP; 

(5)      amounts attributable to minority interest; 

(6)      any extraordinary non-cash charge (including any impairment charge or asset write-off pursuant to
GAAP) (provided that if any such non-cash charge represents an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from Consolidated EBITDA to such
extent, and excluding amortization of a prepaid cash item that was paid in a prior period); 

(7)      all costs and expenses arising from or related to the issuance of the Senior Notes, the incurrence
of the Loan Documents and the Term Loan Documents and the Acquisition; 
 (8)      non-cash stock
compensation, including any non-cash expenses arising from stock options, stock grants or other equity-incentive programs, the granting of stock appreciation rights and similar arrangements; 

(9)      to the extent the related loss is not added back in calculating such Consolidated Net Income,
proceeds of business interruption insurance policies to the extent of such related loss; 
 (10)    cash
charges related to the Jeannette flood not to exceed $600,000, a Thailand customs duty claim not to exceed $800,000, the Uniroyal settlement not to exceed $300,000 and to the Columbus, Mississippi strike not to exceed $6,000,000 in the aggregate;

 (11)    one-time cash charges associated with plant closures, strikes and other restructuring charges, in
all cases not exceeding $6,000,000 in the aggregate prior to the Stated Termination Date (excluding any such charges pursuant to the Transaction); 
 (12)    to the extent non-recurring and not capitalized, any fees, costs and expenses of Omnova and its Subsidiaries incurred as a result of Permitted Acquisitions, Restricted
Investments, asset dispositions permitted hereunder and the issuance, repayment or amendment of equity interests or Debt permitted hereunder (in each case, whether or not consummated); 

(13)    any non-cash impairment charges or asset write-off or write-down resulting from

  
 Annex A-8

 
the application of Statement of Financial Accounting Standards No. 142 or Statement of Financial Accounting Standards No. 144, and the amortization of intangibles arising pursuant to
Statement of Financial Accounting Standards No. 141 or any related subsequent Statement of Financial Accounting Standards or Accounting Standards Codification; 
 (14)    non-cash losses and expenses resulting from fair value accounting required by Statement of Financial Accounting Standards No. 133 or any related subsequent Statement of
Financial Accounting Standards or Accounting Standards Codification; and 
 (15)    any losses arising from
any changes in the LIFO reserve of Omnova and its Subsidiaries; 
 provided that Consolidated EBITDA shall be reduced by the following to
the extent included in calculating such Consolidated Net Income: 
 (a)    non-cash gains and income
resulting from fair value accounting required by Statement of Financial Accounting Standards No. 133 or any related subsequent Statement of Financial Accounting Standards or Accounting Standards Codification; 

(b)    any non-recurring gains; 
 (c)    amounts paid in cash as dividends or other distributions to holders of minority interests; and 
 (d)    any gains arising from any changes in the LIFO reserve of Omnova and its Subsidiaries; 
 provided, further, that for the purposes of determining the Interest Coverage Ratio, Fixed Charge Coverage Ratio and Leverage Ratio (a) any gain or loss arising from extraordinary
items, as determined in accordance with GAAP, or (b) from any non-recurring charges consisting of charges for restructurings, reductions in work force, and plant closing and consolidations and other non-recurring charges not to exceed
$5,000,000 for any 12 month period for all such items in the aggregate, shall not be included in the calculation of Consolidated EBITDA related thereto. 
 “Consolidated Net Income” shall mean , for any period, the net income (or loss) of Omnova and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP
consistently applied; provided that there shall not be included in such Consolidated Net Income: 

(1)    any extraordinary gains (net of taxes, fees and expenses relating to the transaction giving rise thereto) or
losses or expenses; 
 (2)    any net income or loss of any Person if such Person is not a Subsidiary,
except Consolidated Net Income shall be increased by the amount of cash actually distributed by such Person during such period to Omnova or a Subsidiary as a dividend or other distribution (subject, in the case of a dividend or other distribution
paid to a Subsidiary, 

  
 Annex A-9

 
to the limitations contained in clause (3) below); 

(3)    solely for the purposes of determining the amount available for Dividends under clause (a)(ii) of the
definition of “Permitted Dividend Amount,” the net income of any Subsidiary to the extent that the declaration of dividends or similar distributions by that Subsidiary of that income is not at the time permitted, directly or indirectly,
without prior approval (that has not been obtained), pursuant to the terms of its charter or any agreement, instrument and governmental regulation applicable to such Subsidiary or its stockholders; 

(4)    any gain or loss realized upon any asset disposition (net of taxes, fees and expenses relating to the
transaction giving rise thereto); 
 (5)    any net after-tax income or loss from discontinued operations;
and 
 (6)    any gain or loss realized as a result of the cumulative effect of a change in accounting
principles. 
 “Consolidated Net Tangible Assets” shall mean, at any time of determination,
the total assets of the Borrowers and Guarantors on a consolidated basis less the sum of (a) the goodwill, net, and other intangible assets and (b) all current liabilities, in each case, reflected on the most recent consolidated balance
sheet required to be delivered pursuant to Section 5.2(a) or (b), determined on a consolidated basis in accordance with GAAP. 
 “Contaminant” means any waste, pollutant, hazardous substance, toxic substance, hazardous waste, special waste, petroleum or petroleum-derived substance or waste, asbestos in any form or
condition, polychlorinated biphenyls (“PCBs”), or any constituent of any such substance or waste. 
 “Continuation/Conversion Date” means the date on which a Loan is converted into or continued as a Eurodollar Revolving Loan. 

“Copyright Security Agreement” means the Amended and Restated Copyright Security Agreement, dated as of
the date hereof, executed and delivered by Omnova to the Agent to evidence and perfect the Agent’s security interest in Omnova’s present and future copyrights and related licenses and rights, for the benefit of the Agent and the Lenders.

 “Credit Support” has the meaning specified in Section 1.3(a). 

“Debt” means, without duplication, all liabilities, obligations and indebtedness of the Borrowers or
any of their Subsidiaries to any Person, of any kind or nature, now or hereafter owing, arising, due or payable, howsoever evidenced, created, incurred, acquired or owing, whether primary, secondary, direct, contingent, fixed or otherwise,
consisting of indebtedness for borrowed money or the deferred purchase price of property, excluding trade payables, but including (a) all Obligations; (b) all obligations and liabilities of Borrowers or any of their Subsidiaries secured by
any Lien on the Borrowers’ or any of their Subsidiaries’ property, even though the Borrowers or such Subsidiary shall not have assumed or become liable for the payment thereof; provided, however, that all such obligations and
liabilities which are limited in 

  
 Annex A-10

 
recourse to such property shall be included in Debt only to the extent of the book value of such property as would be shown on a balance sheet of the Borrowers or such Subsidiary prepared in
accordance with GAAP; (c) all obligations or liabilities created or arising under any Capital Lease or conditional sale or other title retention agreement with respect to property used or acquired by the Borrowers or any of their Subsidiaries,
even if the rights and remedies of the lessor, seller or lender thereunder are limited to repossession of such property; provided, however, that all such obligations and liabilities which are limited in recourse to such property shall
be included in Debt only to the extent of the book value of such property as would be shown on a balance sheet of the Borrowers or such Subsidiary prepared in accordance with GAAP; (d) all obligations and liabilities under Guaranties and
(e) the present value (discounted at the CB Floating Rate) of lease payments due under synthetic leases. 

“Default” means any event or circumstance which, with the giving of notice, the lapse of time, or both,
would (if not cured, waived, or otherwise remedied during such time) constitute an Event of Default. 

“Default Rate” means a fluctuating per annum interest rate at all times equal to the sum of
(a) the otherwise applicable Interest Rate plus (b) two percent (2%) per annum. Each Default Rate shall be adjusted simultaneously with any change in the applicable Interest Rate. In addition, the Default Rate shall result in
an increase in the Letter of Credit Fee by two (2) percentage points per annum. 
 “Defaulting
Lender” means any Lender, as determined by the Agent, that has (a) failed to fund any portion of its Loans or participations in Letters of Credit or Swing Line Loans within three Business Days of the date required to be funded by it
hereunder, (b) notified the Borrower Representative, the Agent, the Letter of Credit Issuer, the Bank or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public
statement to the effect that it does not intend to comply with its funding obligations under this Agreement or under other agreements in which it commits to extend credit, (c) failed, within three Business Days after request by the Agent, to
confirm that it will comply with the terms of this Agreement relating to its obligations to fund prospective Loans and participations in then outstanding Letters of Credit and Swing Line Loans, (d) otherwise failed to pay over to the Agent or
any other Lender any other amount required to be paid by it hereunder within three Business Days of the date when due, unless the subject of a good faith dispute, or (e) (i) become or is insolvent or has a parent company that has become or
is insolvent or (ii) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or
acquiescence in any such proceeding or appointment or has a parent company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in
furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment. 
 “Deposit Accounts” means all “deposit accounts” as such term is defined in the UCC, now or hereafter held in the name of a Borrower or a Guarantor. 

“Designated Account” has the meaning specified in Section 1.2(c). 

  
 Annex A-11

 “Designated Noncash Consideration” shall mean the Fair
Market Value of noncash consideration received by Omnova or one of its Subsidiaries in connection with an asset sale under Section 7.9 that is designated as Designated Noncash Consideration pursuant to an officers’ certificate
executed by the chief financial officer of Omnova setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of such Designated Noncash Consideration. 

“Disqualified Stock” shall mean, with respect to any Person, any equity interests which by its terms
(or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event: 
 (1)    matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise; or 
 (2)    is redeemable at the option of the holder thereof, in whole or in part, in each case on or prior to the date that is 91 days after the latest then applicable Stated Termination
Date and for consideration that is not Qualified Stock; 
 provided that any class of equity interests
of such Person that, by its terms, authorizes such Person to satisfy in full its obligations with respect to the payment of dividends or upon maturity, redemption (pursuant to a sinking fund or otherwise) or repurchase thereof or otherwise by the
delivery of Qualified Stock, and that is not convertible, puttable or exchangeable for Disqualified Stock or Debt, will not be deemed to be Disqualified Stock so long as such Person satisfies its obligations with respect thereto solely by the
delivery of Qualified Stock; provided, further, that any equity interests that would not constitute Disqualified Stock but for provisions thereof giving holders thereof (or the holders of any security into or for which such equity
interests is convertible, exchangeable or exercisable) the right to require Omnova or any Subsidiary to redeem or purchase such equity interests upon the occurrence of a change in control occurring prior to the latest then applicable Stated
Termination Date shall not constitute Disqualified Stock if the change in control provisions applicable to such equity interests are no more favorable to such holders than the Change of Control Event of Default in this Agreement and such equity
interests specifically provides that Omnova or such Subsidiary will not redeem or purchase any such equity interests pursuant to such provisions prior to the Borrowers repayment of the Obligations and termination of this Agreement. 

“Dividends” with respect to any Person shall mean that such Person has declared or paid a dividend or
returned any equity capital to its stockholders, members or other equity owners or authorized or made any other distribution, payment or delivery of property or cash to its stockholders, members or other equity owners as such, or redeemed, retired,
purchased or otherwise acquired, directly or indirectly, for consideration any shares of any class of its capital stock or other equity securities outstanding on or after the Closing Date (or any options or warrants issued by such Person with
respect to its capital stock or other equity securities), or set aside any funds for any of the foregoing purposes, or shall have permitted any of its Subsidiaries to purchase or otherwise acquire for consideration any shares of any class of the
capital stock or other equity securities of such Person outstanding on or after the Closing Date (or any options or warrants issued by such Person with respect to its capital stock or other equity securities). 

  
 Annex A-12

 “Documents” means all documents as such term is defined in
the UCC, including bills of lading, warehouse receipts or other documents of title, now owned or hereafter acquired by a Borrower. 
 “DOL” means the United States Department of Labor or any successor department or agency. 
 “Dollar” and “$” means dollars in the lawful currency of the United States. Unless otherwise specified, all payments under the Agreements shall be made in Dollars.

 “Domestic Subsidiary” shall mean each Subsidiary of Omnova that is incorporated or
organized in the United States or any State or territory thereof 
 “Eligible Accounts” means
the Accounts which the Agent in the exercise of its reasonable commercial discretion determines to be Eligible Accounts. Without limiting the discretion of the Agent to establish other criteria of ineligibility, Eligible Accounts shall not, unless
the Agent in its sole discretion elects, include any Account: 
 (a)    with respect to
which (i) the stated term for such Account is in excess of 60 days from the date of the original invoice therefor (unless any invoice with extended terms in excess of 60 days is approved by Agent in its sole discretion), (ii) more than 90
days have elapsed since the date of the original invoice therefor or (iii) such Account is more than 60 days past due; 
 (b)    with respect to which any of the representations, warranties, covenants, and agreements contained in the Security Agreement are incorrect or have been breached; 

(c)    with respect to which Account (or any other Account due from such Account Debtor), in whole
or in part, a check, promissory note, draft, trade acceptance or other instrument for the payment of money has been received, presented for payment and returned uncollected for any reason; 

(d)    which represents a progress billing (as hereinafter defined) or as to which a Borrower has
extended the time for payment without the consent of the Agent; for the purposes hereof, “progress billing” means any invoice for goods sold or leased or services rendered under a contract or agreement pursuant to which the Account
Debtor’s obligation to pay such invoice is conditioned upon such Borrower’s completion of any further performance under the contract or agreement; 
 (e)    with respect to which any one or more of the following events has occurred to the Account Debtor on such Account: death or judicial declaration of incompetency of an Account
Debtor who is an individual; the filing by or against the Account Debtor of a request or petition for liquidation, reorganization, arrangement, adjustment of debts, adjudication as a bankrupt, winding-up, or other relief under the bankruptcy,
insolvency, or similar laws of the United States, any state or territory thereof, or any foreign jurisdiction, now or hereafter in effect; the making of any general assignment by the Account Debtor for the benefit of creditors; the appointment of a
receiver or trustee for the Account Debtor or for any of the assets of the Account Debtor, including, without limitation, the appointment of or taking possession by a 

  
 Annex A-13

 
“custodian,” as defined in the Federal Bankruptcy Code; the institution by or against the Account Debtor of any other type of insolvency proceeding (under the bankruptcy laws of the
United States or otherwise) or of any formal or informal proceeding for the dissolution or liquidation of, settlement of claims against, or winding up of affairs of, the Account Debtor; the sale, assignment, or transfer of all or any material part
of the assets of the Account Debtor; the nonpayment generally by the Account Debtor of its debts as they become due; or the cessation of the business of the Account Debtor as a going concern; 

(f)    if twenty-five percent (25%) or more of the aggregate Dollar amount of outstanding
Accounts owed at such time by the Account Debtor thereon is classified as ineligible under clause (a) above; 
 (g)    owed by an Account Debtor which: (i) does not maintain its chief executive office in the United States of America or Canada (other than the Province of Newfoundland); or
(ii) is not organized under the laws of the United States of America or Canada or any state or province thereof; or (iii) is the government of any foreign country or sovereign state, or of any state, province, municipality, or other
political subdivision thereof, or of any department, agency, public corporation, or other instrumentality thereof; except to the extent that such Account is secured or payable by a letter of credit satisfactory to the Agent in its discretion;

 (h)    owed by an Account Debtor which is an Affiliate or employee of a Borrower;

 (i)    except as provided in clause (k) below, with respect to which either
the perfection, enforceability, or validity of the Agent’s Liens in such Account, or the Agent’s right or ability to obtain direct payment to the Agent of the proceeds of such Account, is governed by any federal, state, or local statutory
requirements other than those of the UCC; 
 (j)    owed by an Account Debtor to which a
Borrower or any of its Subsidiaries, is indebted in any way, or which is subject to any right of setoff or recoupment by the Account Debtor, unless the Account Debtor has entered into an agreement acceptable to the Agent to waive setoff rights; or
if the Account Debtor thereon has disputed liability or made any claim with respect to any other Account due from such Account Debtor; but in each such case only to the extent of such indebtedness, setoff, recoupment, dispute, or claim; 

(k)    owed by the government of the United States of America, or any department, agency, public
corporation, or other instrumentality thereof, unless the Federal Assignment of Claims Act of 1940, as amended (31 U.S.C. § 3727 et seq.), and any other steps necessary to perfect the Agent’s Liens therein, have been complied
with to the Agent’s satisfaction with respect to such Account; 
 (l)    owed by any
state, municipality, or other political subdivision of the United States of America, or any department, agency, public corporation, or other instrumentality thereof and as to which the Agent determines that its Lien therein is not or cannot be
perfected; 

  
 Annex A-14

 (m)    which represents a sale on a bill-and-hold
(unless Agent receives a satisfactory acknowledgement letter from the Account Debtor as to the validity of such Account but in no event shall the aggregate of such bill-and-hold Accounts exceed (i) $500,000 at any time outstanding with respect
to Accounts from Metro Wall Coverings and (ii) $100,000 at any time outstanding with respect to all other Account Debtors with bill-and-hold Accounts), guaranteed sale, sale and return, sale on approval, consignment, or other repurchase or
return basis; 
 (n)    which is evidenced by a promissory note or other instrument or by
chattel paper; 
 (o)    if the Agent believes, in the exercise of its reasonable judgment,
that the prospect of collection of such Account is impaired or that the Account may not be paid by reason of the Account Debtor’s financial inability to pay; 

(p)    with respect to which the Account Debtor is located in any state requiring the filing of a
Notice of Business Activities Report or similar report in order to permit a Borrower to seek judicial enforcement in such State of payment of such Account, unless such Borrower has qualified to do business in such state or has filed a Notice of
Business Activities Report or equivalent report for the then current year; 
 (q)    which
arises out of a sale not made in the ordinary course of the Borrowers’ business; 

(r)    with respect to which the goods giving rise to such Account have not been shipped and
delivered to and accepted by the Account Debtor or the services giving rise to such Account have not been performed by the Borrowers, and, if applicable, accepted by the Account Debtor, or the Account Debtor revokes its acceptance of such goods or
services; 
 (s)    owed by an Account Debtor which is obligated to the Borrowers
respecting Eligible Accounts the aggregate unpaid balance of which exceeds ten percent (10%) (or, in the case of NewPage Corporation and its domestic subsidiaries, twenty percent (20%) combined for such Account Debtors) of the aggregate
unpaid balance of all Eligible Accounts owed to the Borrowers at such time by all of the Borrowers’ Account Debtors, but only to the extent of such excess; 

(t)    which is not subject to a first priority and perfected security interest in favor of the
Agent for the benefit of the Lenders. 
 If any Account at any time ceases to be an Eligible Account, then such
Account shall promptly be excluded from the calculation of Eligible Accounts. 
 “Eligible
Assignee” means (a) a commercial bank, commercial finance company or other asset based lender, having total assets in excess of $1,000,000,000; (b) any Lender listed on the signature page of this Agreement; (c) any Affiliate
of any Lender; and (d) if an Event of Default has occurred and is continuing, any Person reasonably acceptable to the Agent. 

  
 Annex A-15

 “Eligible Inventory” means Inventory, valued at the lower
of cost (on a first-in, first-out basis) or market, which the Agent, in its reasonable discretion, determines to be Eligible Inventory. Without limiting the discretion of the Agent to establish other criteria of ineligibility, Eligible Inventory
shall not, unless the Agent in its sole discretion elects, include any Inventory: 

(a)    that is not owned by the Borrowers; 

(b)    that is not subject to the Agent’s Liens, which are perfected as to such Inventory, or
that are subject to any other Lien whatsoever (other than the Liens described in clauses (a), (b) and (d) of the definition of Permitted Liens provided that such Permitted Liens (i) are junior in priority to the Agent’s
Liens or subject to Reserves and (ii) do not impair directly or indirectly the ability of the Agent to realize on or obtain the full benefit of the Collateral); 

(c)    that does not consist of finished goods or raw materials; 

(d)    that consists of samples, prototypes, supplies, or packing and shipping materials;

 (e)    that is not in good condition, is unmerchantable, or does not meet all standards
imposed by any Governmental Authority, having regulatory authority over such goods, their use or sale; 

(f)    that is not currently either usable or salable, at prices approximating at least cost, in the
normal course of the Borrowers’ business, or that is slow moving or stale; 

(g)    that is obsolete or slow-moving or returned or repossessed or used goods taken in trade;

 (h)    that is located outside the United States of America (or that is in-transit from
vendors or suppliers); 
 (i)    that is located in a public warehouse or in possession of
a bailee or in a facility leased by the Borrowers, if the warehouseman, or the bailee, or the lessor has not delivered to the Agent, if requested by the Agent, a subordination agreement in form and substance satisfactory to the Agent or if a Reserve
for rents or storage charges has not been established for Inventory at that location; 

(j)    that contains or bears any Proprietary Rights licensed to the Borrowers by any Person, if the
Agent is not satisfied that it may sell or otherwise dispose of such Inventory in accordance with the terms of the Security Agreement and Section 9.2 without infringing the rights of the licensor of such Proprietary Rights or violating
any contract with such licensor (and without payment of any royalties other than any royalties due with respect to the sale or disposition of such Inventory pursuant to the existing license agreement), and, as to which the Borrowers have not
delivered to the Agent a consent or sublicense agreement from such licensor in form and substance acceptable to the Agent if requested; 
 (k)    that is not reflected in the details of a current perpetual inventory report and/or monthly physical report, as applicable; or 

  
 Annex A-16

 (l)    that is Inventory placed on consignment unless
Agent otherwise provides its prior written consent to such consignment arrangement in its sole discretion and receives such UCC financial statements, third party acknowledgment letters and other documents as Agent shall request. 

If any Inventory at any time ceases to be Eligible Inventory, such Inventory shall promptly be excluded from the
calculation of Eligible Inventory. 
 “Environmental Compliance Reserve” means any reserve
which the Agent establishes in its reasonable discretion after prior written notice to the Borrower Representative from time to time for amounts that are reasonably likely to be expended by the Borrowers in order for the Borrowers and their
operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent
and the Lenders pursuant to Section 7.7. 
 “Environmental Laws” means all
federal, state or local laws, statutes, common law duties, rules, regulations, ordinances and codes, together with all administrative orders, directed duties, licenses, authorizations and permits of, and agreements with, any Governmental Authority,
in each case relating to environmental, health, safety and land use matters. 
 “Environmental
Lien” means a Lien in favor of any Governmental Authority for (a) any liability under Environmental Laws, or (b) damages arising from, or costs incurred by such Governmental Authority in response to, a Release or threatened
Release of a Contaminant into the environment. 
 “Equipment” means all of the Borrowers’
now owned and hereafter acquired machinery, equipment, furniture, furnishings, fixtures, and other tangible personal property (except Inventory), including embedded software, motor vehicles with respect to which a certificate of title has been
issued, aircraft, dies, tools, jigs, molds and office equipment, as well as all of such types of property leased by the Borrowers and all of the Borrowers’ rights and interests with respect thereto under such leases (including, without
limitation, options to purchase); together with all present and future additions and accessions thereto, replacements therefor, component and auxiliary parts and supplies used or to be used in connection therewith, and all substitutes for any of the
foregoing, and all manuals, drawings, instructions, warranties and rights with respect thereto; wherever any of the foregoing is located. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and regulations promulgated thereunder. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with
the Borrowers within the meaning of Section 414 of the Code. 
 “ERISA Event” means
(a) a Reportable Event with respect to a Pension Plan, (b) a withdrawal by a Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in
Section 4001(a)(2) of ERISA) or a cessation of operations which is treated as such a withdrawal under Section 4062(e) of ERISA, (c) a complete or partial withdrawal by a Borrower or any ERISA

  
 Annex A-17

 
Affiliate from a Multi-employer Plan, (d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Section 4041 or 4041A of ERISA, or the
commencement of proceedings by the PBGC to terminate a Pension Plan or Multi-employer Plan, (e) the occurrence of an event or condition which might reasonably be expected to constitute grounds under Section 4042 of ERISA for the
termination of, or the appointment of a trustee to administer, any Pension Plan or Multi-employer Plan, (f) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of
ERISA, upon a Borrower or any ERISA Affiliate, (g) the failure to make any required contribution to any Pension Plan or Multi-employer Plan when due, or (h) the imposition of a lien under Section 412 or 430(k) of the Code or
Section 303 or 4068 of ERISA on any property (or rights to property, whether real or personal) of a Borrower or any ERISA Affiliate. 
 “Eurodollar Interest Payment Date” means, with respect to a Eurodollar Revolving Loan, the Termination Date, the date of any repayment with respect to such Eurodollar Revolving Loan and
the last day of each Interest Period applicable to such Loan or, with respect to each Interest Period of greater than three months in duration, the last day of the third month of such Interest Period and the last day of such Interest Period.

 “Eurodollar Rate” means, with respect to any Eurodollar Revolving Loan for any Interest
Period, the rate appearing on Reuters Screen LIBOR01 Page (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of
such Service, as determined by the Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the “Eurodollar Rate” with respect to
such Eurodollar Revolving Loan for such Interest Period shall be the rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Agent in immediately available
funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period. 
 “Eurodollar Revolving Loan” means a Revolving Loan during any period in which it bears interest based on the Adjusted Eurodollar Rate. 

“Event of Default” has the meaning specified in Section 9.1. 

“Exchange Act” means the Securities Exchange Act of 1934, and regulations promulgated thereunder.

 “Fair Market Value” shall mean, with respect to any asset, the price (after taking into
account any liabilities relating to such assets) that would be negotiated in an arm’s-length transaction for cash between a willing seller and a willing and able buyer, neither of which is under any compulsion to complete the transaction. Fair
Market Value (other than of any asset with a public trading market) in excess of $25,000,000 shall be determined by the board of directors of Omnova acting reasonably and in good faith and shall be evidenced by a board resolution delivered to the
Agent. 

  
 Annex A-18

 “Federal Funds Effective Rate” means, for any day, an
interest rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published for such day (or, if such day is not a
Business Day, for the immediately preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations at approximately 10:00 a.m. (Chicago time) on
such day on such transactions received by the Agent from three Federal funds brokers of recognized standing selected by the Agent in its sole discretion. 
 “Federal Reserve Board” means the Board of Governors of the Federal Reserve System or any successor thereto. 

“Financial Statements” means, according to the context in which it is used, the financial statements
referred to in Sections 5.2 and 6.6 or any other financial statements required to be given to the Lenders pursuant to this Agreement. 
 “Fiscal Quarter” means each fiscal quarter of Omnova ending on the last day of February, May, August and November of each Fiscal Year. 

“Fiscal Year” means Omnova’s fiscal year for financial accounting purposes which ends on
November 30 of each year. 
 “Fixed Assets” means the Equipment, Fixtures and Real Estate
of the Borrowers and their Subsidiaries. 
 “Fixed Charge Coverage Ratio” means, with respect
to any fiscal period of Borrowers, the ratio of (a) Consolidated EBITDA minus unfinanced Capital Expenditures to (b) Fixed Charges. 
 “Fixed Charges” means, with respect to any fiscal period of the Borrowers and their Subsidiaries on a consolidated basis, without duplication, interest expense, scheduled principal
payments of Debt, Federal, state, local and foreign income taxes (excluding deferred taxes) and Dividends. 

“Fixtures” means all “fixtures” as such term is defined in the UCC, now owned or hereafter
acquired by the Borrowers. 
 “Foreign Holdco” means Decorative Products Thailand, Inc., OMNOVA Wallcovering
(USA) Inc. and any other Subsidiary which has no material assets other than the stock of Subsidiaries that are CFCs (which shall be indicated as a “Foreign Holdco” on Schedule 6.5 or any supplement thereto, when required to be delivered),
in all cases provided that and so long as Decorative Products Thailand, Inc., OMNOVA Wallcovering (USA) Inc. or such other Subsidiary shall not engage in any business or activity other than (a) the ownership of CFCs, (b) maintaining its
corporate existence, (c) participating in tax, accounting and other administrative activities as the parent of a CFC, (d) the execution and delivery of the Loan Documents to which it is a party and the performance of its obligations
thereunder, (e) the execution and delivery of a guaranty of Debt under the Term Loan Agreement (provided that if the guaranty of such Foreign Holdco of the Obligations is limited then the guaranty of Debt under the Term Loan Agreement

  
 Annex A-19

 
will be limited in substantially the same manner) and (f) activities incidental to the businesses or activities described in clauses (a) through (e) above. 

“Foreign Pension Plan” shall mean any plan, fund (including without limitation, any superannuation
fund) or other similar program established or maintained outside the United States by Omnova or any Subsidiary primarily for the benefit of employees of Omnova or any Subsidiary residing outside the United States, which plan, fund or other similar
program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or the Code. 

“Foreign Subsidiary” shall mean each Subsidiary of Omnova that is not a Domestic Subsidiary.

 “Funding Date” means the date on which a Borrowing occurs. 

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

“General Intangibles” means all of the Borrowers’ now owned or hereafter acquired general
intangibles, choses in action and causes of action and all other intangible personal property of the Borrowers of every kind and nature (other than Accounts), including, without limitation, all contract rights, payment intangibles, Proprietary
Rights, corporate or other business records, inventions, designs, blueprints, plans, specifications, patents, patent applications, trademarks, service marks, trade names, trade secrets, goodwill, copyrights, computer software, customer lists,
registrations, licenses, franchises, tax refund claims, any funds which may become due to the Borrowers in connection with the termination of any Plan or other employee benefit plan or any rights thereto and any other amounts payable to the
Borrowers from any Plan or other employee benefit plan, rights and claims against carriers and shippers, rights to indemnification, business interruption insurance and proceeds thereof, property, casualty or any similar type of insurance and any
proceeds thereof, proceeds of insurance covering the lives of key employees on which a Borrower is beneficiary, rights to receive dividends, distributions, cash, Instruments and other property in respect of or in exchange for pledged equity
interests or Investment Property and any letter of credit, guarantee, claim, security interest or other security held by or granted to the Borrowers. 
 “Goods” means all “goods” as defined in the UCC, now owned or hereafter acquired by Borrowers, wherever located, including embedded software to the extent included in
“goods” as defined in the UCC, manufactured homes, standing timber that is cut and removed for sale and unborn young of animals. 
 “Governmental Authority” means any nation or government, any state or other political subdivision thereof, any central bank (or similar monetary or regulatory authority) thereof, any
entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of the
foregoing. 

  
 Annex A-20

 “Guarantor” means each Domestic Subsidiary party to the
Guaranty Agreement. 
 “Guaranty” means, with respect to any Person, all obligations of such
Person which in any manner directly or indirectly guarantee or assure, or in effect guarantee or assure, the payment or performance of any indebtedness, dividend or other obligations of any other Person (the “guaranteed
obligations”), or assure or in effect assure the holder of the guaranteed obligations against loss in respect thereof, including any such obligations incurred through an agreement, contingent or otherwise: (a) to purchase the
guaranteed obligations or any property constituting security therefor; (b) to advance or supply funds for the purchase or payment of the guaranteed obligations or to maintain a working capital or other balance sheet condition; or (c) to
lease property or to purchase any debt or equity securities or other property or services. 
 “Guaranty
Agreement” means that certain Amended and Restated Guaranty, dated as of the date hereof, by and among each of the Domestic Subsidiaries of Borrowers and Agent for the benefit of Agent and other Lenders. 

“Hedge Agreement” means any and all transactions, agreements or documents now existing or hereafter
entered into, which provides for an interest rate, credit, commodity (including, without limitation, oil and natural gas) or equity swap, cap, floor, collar, forward foreign exchange transaction, currency swap, cross currency rate swap, currency
option, or any combination of, or option with respect to, these or similar transactions, for the purpose of hedging the Borrowers’ exposure to fluctuations in interest or exchange rates, loan, credit exchange, security or currency valuations or
commodity prices; provided, that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrowers or the Subsidiaries shall be a
Hedge Agreement. 
 “Inactive Subsidiaries” means any Subsidiary of Omnova that does not have
any assets in excess of $100,000 or has not had revenues in excess of $100,000 for the twelve month period then most recently ended. 
 “Increased Commitment Agreement” has the meaning specified in Section 1.3(j). 
 “Increased Commitment Proposal” has the meaning specified in Section 1.3(j). 
 “Indenture” means that certain Indenture dated as of November 3, 2010 among Omnova, the Domestic Subsidiaries party thereto as guarantors and Wells Fargo Bank, National Association,
as Trustee. 
 “Instruments” means all instruments as such term is defined in the UCC, now
owned or hereafter acquired by the Borrowers. 
 “Intercompany Loans” has the meaning set
forth in Section 7.11 (vi). 
 “Intercompany Note” shall mean promissory notes,
substantially in the form of Exhibit F evidencing Intercompany Loans. 

  
 Annex A-21

 “Intercreditor Agreement” means the Amended and Restated
Intercreditor Agreement of even date herewith by and among Agent, Deutsche Bank Trust Companies America, as collateral agent under the Term Loan Agreement and Borrowers. 

“Interest Coverage Ratio” shall mean for any 4 Fiscal Quarter period, the ratio of Consolidated EBITDA
for such period to Interest Expense for such period. All calculations of the Interest Coverage Ratio shall be made on a pro forma basis. 
 “Interest Expense” means, for any period, the total consolidated interest expense of Borrowers and their Subsidiaries for such period (whether paid or accrued, and calculated without
regard to any limitations on the payment thereof) plus, without duplication, that portion of Capital Lease obligations of the Borrowers and their Subsidiaries representing the interest factor for such period; provided that any deferred financing
fees to the extent otherwise included in the total consolidated interest expense of the Borrowers and their Subsidiaries shall be excluded therefrom. 
 “Interest Period” means, as to any Eurodollar Revolving Loan, the period commencing on the Funding Date of such Loan or on the Continuation/Conversion Date on which the Loan is converted
into or continued as a Eurodollar Revolving Loan, and ending on the date one, two, three or six months thereafter as selected by the Borrower Representative in its Notice of Borrowing, in the form attached hereto as Exhibit C, or Notice of
Continuation/Conversion, in the form attached hereto as Exhibit D, provided that: 
 (a)       if any Interest Period would otherwise end on a day that is not a Business Day, that Interest Period shall be extended to the following Business Day unless the
result of such extension would be to carry such Interest Period into another calendar month, in which event such Interest Period shall end on the preceding Business Day; 

(b)       any Interest Period pertaining to a Eurodollar Revolving
Loan that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the
end of such Interest Period; and 
 (c)       no Interest
Period shall extend beyond the Stated Termination Date. 
 “Interest Rate” means each or any
of the interest rates, including the Default Rate, set forth in Section 2.1. 

“Inventory” means all of the Borrowers’ now owned and hereafter acquired inventory, goods and
merchandise, wherever located, to be furnished under any contract of service or held for sale or lease, all returned goods, raw materials, work-in-process, finished goods (including embedded software), other materials and supplies of any kind,
nature or description which are used or consumed in the Borrowers’ business or used in connection with the packing, shipping, advertising, selling or finishing of such goods, merchandise, and all documents of title or other Documents
representing them. 

  
 Annex A-22

 “Investment Property” means all of the Borrowers’
right title and interest in and to any and all: (a) securities whether certificated or uncertificated; (b) securities entitlements; (c) securities accounts; (d) commodity contracts; or (e) commodity accounts. 

“IRS” means the Internal Revenue Service and any Governmental Authority succeeding to any of its
principal functions under the Code. 
 “Latest Projections” means: (a) on the Closing
Date and thereafter until the Agent receives new projections pursuant to Section 5.2(e), the most recent projections of the financial condition, results of operations, and cash flows of Borrowers and their Subsidiaries, delivered to the
Agent prior to the Closing Date; and (b) thereafter, the projections most recently received by the Agent pursuant to Section 5.2(e). 
 “LC Disbursement” means a payment made by the Letter of Credit Issuer pursuant to a Letter of Credit. 

“LC Exposure” means, at any time, the sum of the Commercial LC Exposure and the Standby LC Exposure.
The LC Exposure of any Revolving Lender at any time shall be its Pro Rata Share of the total LC Exposure at such time. 
 “Lender” and “Lenders” have the meanings specified in the introductory paragraph hereof and shall include the Agent to the extent of any Agent Advance outstanding and the
Bank to the extent of any Swing Line Loan outstanding; provided that no such Agent Advance or Swing Line Loan shall be taken into account in determining any Lender’s Pro Rata Share. 

“Letter of Credit” has the meaning specified in Section 1.3(a). 

“Letter of Credit Fee” has the meaning specified in Section 2.6. 

“Letter of Credit Issuer” means the Bank, any affiliate of the Bank or, at the Bank’s discretion,
any other financial institution that issues any Letter of Credit pursuant to this Agreement. 

“Letter-of-Credit Rights” means “letter-of-credit rights” as such term is defined in the UCC,
now owned or hereafter acquired by Borrowers, including rights to payment or performance under a letter of credit, whether or not a Borrower, as beneficiary, has demanded or is entitled to demand payment or performance. 

“Letter of Credit Subfacility” means $15,000,000. 

“Leverage Ratio” means, with respect to any 4 Fiscal Quarter period of Omnova, the ratio of
(a) Total Indebtedness at the end of such period to (b) Consolidated EBITDA for such period; provided that solely for purposes of calculating the Leverage Ratio, to the extent that Omnova or any of its Subsidiaries makes any
Permitted Acquisition pursuant to Section 7.11 or disposition of assets in excess of $10,000,000 outside the ordinary course of business that is permitted by Section 7.9 during the period of four Fiscal Quarters of Omnova most recently

  
 Annex A-23

 
ended, the Leverage Ratio shall be calculated after giving pro forma effect thereto (including pro forma adjustments arising out of events which are directly attributable to the acquisition or
the disposition of assets, are factually supportable and are expected to have a continuing impact, in each case as determined on a basis consistent with Article 11 of Regulation S-X of the Securities Act of 1933, as amended, as interpreted by the
SEC, and as certified by the chief financial officer of Omnova), as if such acquisition or such disposition (and any related incurrence, repayment or assumption of Debt) had occurred in the first day of such four quarter period. 

“Lien” means: (a) any interest in property securing an obligation owed to, or a claim by, a Person
other than the owner of the property, whether such interest is based on the common law, statute, or contract, and including a security interest, charge, claim, or lien arising from a mortgage, deed of trust, encumbrance, pledge, hypothecation,
assignment, deposit arrangement, agreement, security agreement, conditional sale or trust receipt or a lease, consignment or bailment for security purposes; (b) to the extent not included under clause (a), any reservation, exception,
encroachment, easement, right-of-way, covenant, condition, restriction, lease or other title exception or encumbrance affecting property; and (c) any contingent or other agreement to provide any of the foregoing. 

“Loan Account” means the loan account of the Borrowers, which account shall be maintained by the Agent.

 “Loan Documents” means this Agreement, the Notes, the Patent and Trademark Security
Agreements, the Copyright Security Agreement, the Security Agreement, the Guaranty Agreement, the Bank Products, the Pledge Agreements, the Intercreditor Agreement and any other agreements, instruments, and documents heretofore, now or hereafter
evidencing, securing, guaranteeing or otherwise relating to the Obligations, the Collateral, or any other aspect of the transactions contemplated by this Agreement, in each case as amended, restated or otherwise modified from time to time. The term
“Loan Documents” shall also include all Hedge Agreements which have been approved by the Agent in writing. 
 “Loans” means, collectively, all loans and advances provided for in Article 1. 
 “Margin Stock” means “margin stock” as such term is defined in Regulation T, U or X of the Federal Reserve Board. 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect
upon, the operations, business, condition (financial or otherwise) of the Borrowers, the Borrowers and their Subsidiaries taken as a whole, the Collateral or any guarantor of the Obligations; (b) a material impairment of the ability of the
Borrowers or any Affiliate of a Borrower to perform under any Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against the Borrowers of any Loan Document to
which it is a party. 
 “Maximum Rate” has the meaning specified in Section 2.3.

 “Maximum Revolver Amount” means $100,000,000, as may be increased from time to time in
accordance with provisions of Section 1.2(j). 

  
 Annex A-24

 “Multi-employer Plan” means a “multiemployer
plan” as defined in Sections 3(37) or 4001(a)(3) of ERISA which is or was at any time during the current year or the immediately preceding six (6) years contributed to by the Borrowers or any ERISA Affiliate. 

“Net Amount of Eligible Accounts” means, at any time, the gross amount of Eligible Accounts less sales,
excise or similar taxes, and less returns, discounts, claims, credits, allowances, accrued rebates, offsets, deductions, counterclaims, disputes and other defenses of any nature at any time issued, owing, granted, outstanding, available or claimed.

 “Net Orderly Liquidation Value” means, with respect to Inventory, the estimated net
recovery value as determined by Agent in good faith based on the most recent Appraisal, which reflects the estimated net cash value expected by the appraiser to be derived from a sale or disposition at a liquidation or going-out-of-business sale of
such Inventory after deducting all costs, expenses and fees attributable to such sale or disposition, including, without limitation, all fees, costs and expenses of any liquidator(s) engaged to conduct such sale or disposition and all costs and
expenses of removing and delivering the same to a purchaser. 
 “Net Orderly Liquidation Value
Factor” means the ratio of the Net Orderly Liquidation Value to the book value of Inventory, expressed as a percentage. The Net Orderly Liquidation Value Factor shall be determined as of the Closing Date based on the Appraisal delivered
prior to the Closing Date and shall be updated pursuant to Appraisals delivered under Section 5.4. 

“Net Proceeds” has the meaning specified in Section 3.3(a). 

“Notes” means Revolving Loan Notes and the Swing Line Notes. 

“Notice of Borrowing” has the meaning specified in Section 1.2(b). 

“Notice of Continuation/Conversion” has the meaning specified in Section 2.2(b).

 “Obligations” means all present and future loans, advances, liabilities, obligations,
covenants, duties, and debts owing by the Borrowers to the Agent and/or any Lender, arising under or pursuant to this Agreement, the Prior Credit Agreement or any of the other Loan Documents, whether or not evidenced by any note, or other instrument
or document, whether arising from an extension of credit, opening of a letter of credit, acceptance, loan, guaranty, indemnification or otherwise, whether direct or indirect, absolute or contingent, due or to become due, primary or secondary, as
principal or guarantor, and including all principal, interest, charges, expenses, fees, attorneys’ fees, filing fees and any other sums chargeable to the Borrowers hereunder or under any of the other Loan Documents. “Obligations”
includes, without limitation, (a) all debts, liabilities, and obligations now or hereafter arising from or in connection with the Letters of Credit and (b) all debts, liabilities and obligations now or hereafter arising from or in
connection with Bank Products for which Agent has received prior or simultaneous written notice (pursuant to electronic mail or other written form) pursuant to Section 1.4 and any Hedge Agreements which have been approved by the Agent in
writing (including any increases in the obligations arising under any pre-approved Hedge Agreements but only to the extent Agent has provided its prior written consent to such increase). 

  
 Annex A-25

 “Other Taxes” means any present or future stamp or
documentary taxes or any other excise or property taxes, charges or similar levies which arise from any payment made hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Agreement or any other Loan
Documents. 
 “Participant” means any Person who shall have been granted the right by any
Lender to participate in the financing provided by such Lender under this Agreement, and who shall have entered into a participation agreement in form and substance satisfactory to such Lender. 

“Patent and Trademark Agreements” means the various Patent Security Agreements and Trademark Security
Agreements, each dated as of the date hereof, executed and delivered by each Borrower to the Agent to evidence and perfect the Agent’s security interest in the Borrowers’ present and future patents, trademarks, and related licenses and
rights, for the benefit of the Agent and the Lenders. 
 “Payment Account” means each bank
account established pursuant to the Security Agreement, to which the proceeds of Accounts and other Collateral are deposited or credited, and which is maintained in the name of the Agent or the Borrowers, as the Agent may determine, on terms
acceptable to the Agent. 
 “PBGC” means the Pension Benefit Guaranty Corporation or any
Governmental Authority succeeding to the functions thereof. 
 “Pending Revolving Loans”
means, at any time, the aggregate principal amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced. 

“Pension Plan” means a Plan that is also a pension plan (as defined in Section 3(2) of ERISA)
subject to Title IV of ERISA which the Borrowers or any ERISA Affiliate sponsors, maintains, or to which it makes, is making, or is obligated to make contributions, or in the case of a Multi-employer Plan has made contributions at any time during
the immediately preceding five (5) plan years. 
 “Permitted Acquisition” means an
acquisition by a Borrower or a wholly owned Subsidiary of all or substantially all the assets, or more than 50% of the equity securities, of a Person comprising a business or of a business (the “Target”), in each case subject to the
satisfaction of the following conditions: 
 (i)      Agent shall receive at
least thirty (30) Business Days’ prior written notice of such proposed Permitted Acquisition, which notice shall include a reasonably detailed description of such proposed Permitted Acquisition; 

(ii)     [intentionally omitted]; 

(iii)    such Permitted Acquisition shall only involve a business, or those assets of a business, of
the type engaged in by such Borrowers and their Subsidiaries as of the Closing Date and any business similar, ancillary or related thereto or which constitutes a reasonable 

  
 Annex A-26

 
extension or expansion thereof, including in connection with Omnova’s existing and future technology, trademarks and patents, and which business would not subject Agent or any Lender to
regulatory or third party approvals in connection with the exercise of its rights and remedies under this Agreement or any other Loan Documents other than approvals applicable to the exercise of such rights and remedies with respect to Borrowers
prior to such Permitted Acquisition and other than as required by local law in connection with the exercise of rights and remedies applicable to securities of Foreign Subsidiaries pledged to the Agent for the benefit of the Lenders; 

(iv)     such Permitted Acquisition shall be consensual and shall have been approved by the
Target’s board of directors; 
 (v)      no additional Debt shall be
incurred, assumed or otherwise be reflected on a consolidated balance sheet of Borrowers, their Subsidiaries and Target after giving effect to such Permitted Acquisition, except ordinary course trade payables, accrued expenses and Debt to the extent
expressly permitted under Section 7.13; 
 (vi)     the Target must have
operating income (or loss) plus interest expense, depreciation and amortization greater than $0 for the trailing twelve-month period preceding the date of the Permitted Acquisition, as determined based upon the Target’s financial statements for
its most recently completed fiscal year and its most recent interim financial period completed within sixty (60) days prior to the date of consummation of such Permitted Acquisition; provided that the foregoing limitations of this clause
(vi) shall not apply to Permitted Acquisitions the consideration for which does not exceed $10,000,000 in the aggregate in any Fiscal Year; 
 (vii)    the business and assets acquired in such Permitted Acquisition shall be free and clear of all Liens (other than Permitted Liens); 

(viii)    to the extent the Target or any of its subsidiaries is incorporated in the United States
(or the assets of Target or its subsidiaries so acquired are located in the United States), then at or prior to the closing of any Permitted Acquisition, Agent will be granted a first priority perfected Lien (subject to Permitted Liens and the terms
of the Intercreditor Agreement) in all assets acquired pursuant thereto (or in the assets and Stock of the Target), and such Borrower or Guarantor and the Target shall have executed such documents (including, without limitation, guarantees, security
agreements and pledge agreements) and taken such actions as may be required by Agent in connection therewith; 

(ix)    Concurrently with delivery of the notice referred to in clause (i) above,
Borrower Representative shall have delivered to Agent, in form and substance reasonably satisfactory to Agent: 
 (A)    a pro forma consolidated balance sheet, income statement and cash flow statement of Borrowers and their Subsidiaries (the “Acquisition Pro Forma”), based on
recent financial statements, which shall be complete and shall fairly present in all material respects the assets, liabilities, financial condition and results of operations of Borrowers and their Subsidiaries in accordance with GAAP consistently
applied, but 

  
 Annex A-27

 
taking into account such Permitted Acquisition and the funding of all Debt in connection therewith; 

(B)    updated versions of the most recently delivered projections covering the
1-year period commencing on the date of such Permitted Acquisition and otherwise prepared in accordance with the projections delivered prior to the Closing Date (the “Acquisition Projections”) and based upon historical financial
data of a recent date reasonably satisfactory to Agent, taking into account such Permitted Acquisition; and 
 (C)    a certificate of the chief financial officer of Borrower Representative to the effect that: (u) the Target is Solvent at the time of such Permitted Acquisition and the
Borrowers and their Subsidiaries, on a consolidated basis after giving effect to such Permitted Acquisition, are Solvent, (v) the representations and warranties contained in this Agreement are correct in all material respects after giving
effect to such Permitted Acquisition and (w) such Borrower (after taking into consideration all rights of contribution and indemnity such Borrower has against each Subsidiary) will be Solvent upon the consummation of the Permitted Acquisition;
(x) the Acquisition Pro Forma fairly presents the financial condition of Borrowers (on a consolidated basis) as of the date thereof after giving effect to the Permitted Acquisition; (y) the Acquisition Projections are reasonable estimates of
the future financial performance of Borrowers subsequent to the date thereof based upon the historical performance of Borrowers and the Target and show that Borrowers shall continue to be in compliance with the financial covenant set forth in
Section 7.23 for the 3-year period thereafter; and (z) such Borrower has completed its due diligence investigation with respect to the Target and such Permitted Acquisition, which investigation was conducted in a manner similar to
that which would have been conducted by a prudent purchaser of a comparable business and the results of which investigation were delivered to Agent and Lenders; 

(x)       on or prior to the date of such Permitted Acquisition, Agent shall have
received, in form and substance reasonably satisfactory to Agent, copies of the acquisition agreement and related agreements and instruments, and all opinions, certificates, lien search results and other documents reasonably requested by Agent;

 (xi)      at the time of such Permitted Acquisition and after giving effect
thereto, no Default or Event of Default shall have occurred and be continuing; 

(xii)     Borrowers’ Availability at the time of and immediately after giving effect to
the consummation of such Permitted Acquisition is equal to at least 40% of the Commitments then in effect; 

(xiii)    the Fixed Charge Coverage Ratio (on a pro forma basis giving effect to such Permitted
Acquisition) is at least 1.2:1.0 for the 3 month and 12 month periods ending on the effective date of such Permitted Acquisition (provided, that to the extent such 3 month period includes any of the months of November, December, January or February,
such 3 month period shall be increased to a 6 month period ending on the effective date of such Permitted Acquisition); and 

  
 Annex A-28

 (xiv) the Acquisition Projections (defined above) shall reflect that the
Fixed Charge Coverage Ratio will be at least 1.2:1.0 for each 12 month period ending each month after the effective date of such Permitted Acquisition through the first anniversary of such effective date. 

Notwithstanding the foregoing, the Accounts and Inventory of the Target shall not be included in Eligible Accounts and
Eligible Inventory without the prior written consent of Agent and Required Lenders, and upon such approval, the Target (to the extent such Permitted Acquisition is of the equity securities of a Person organized within the United States) shall
execute a joinder agreement, in form and substance satisfactory to Agent and Borrowers, pursuant to which the Target becomes a Borrower under the Agreement and the other Loan Documents. 

“Permitted Debt” shall mean subordinated or senior unsecured Debt of Omnova; provided that (a) the
terms of such Debt do not provide for any scheduled repayment, mandatory redemption, sinking fund obligation or other payment prior to 180 days after the Stated Termination Date, other than customary offers to purchase upon a change of control,
asset sale or casualty or condemnation event and customary acceleration rights upon an event of default and (b) the covenants, events of default, guarantees and other terms for such Debt (provided that such Debt shall have interest rates
and redemption premiums determined by the board of directors of Omnova to be market rates and premiums at the time of incurrence of such Debt), taken as a whole, are determined by the board of directors of Omnova to be market terms on the date of
incurrence and in any event are not more restrictive on Omnova and the Subsidiaries, or materially less favorable to the Lenders, than the terms of the Loan Documents and do not require the maintenance or achievement of any financial performance
standards other than as a condition to taking specified actions and (c) the subordination terms of such Debt and all other terms and condition of such Debt are satisfactory to Agent. 

“Permitted Dividend Amount” shall mean, at any time, an amount equal to the sum of
(i) $40,000,000, plus (ii) if positive, an amount equal to 50% of Consolidated Net Income for the period from the Closing Date to the end of the most recently ended Fiscal Quarter for Omnova which financial statements have been delivered
pursuant to Section 5.2(a) or (b), minus (iii) if negative, 100% of such loss for such period. 
 “Permitted Leverage Ratio” shall mean (a) for any Fiscal Quarter ending on or prior to May 31, 2011, a Leverage Ratio of no greater than 4.50:1.0, (b) for any Fiscal
Quarter ending on or prior to May 31, 2012 (but after May 31, 2011), a Leverage Ratio of no greater than 4.25:1.0, (c) for any Fiscal Quarter ending on or prior to May 31, 2013 (but after May 31, 2012), a Leverage Ratio of
no greater than 3.75:1.0 and (d) for any Fiscal Quarter ending after May 31, 2013, a Leverage Ratio of no greater than 3.50:1.0. 
 “Permitted Liens” has the meaning set forth in Section 7.18. 
 “Permitted Refinancing Debt” shall mean Debt of Omnova or any Subsidiary issued or incurred (including by means of the extension or renewal of existing Debt) to refinance, refund, extend
or renew existing Debt (“Refinanced Debt”); provided that (a) the principal amount (or accreted value, if applicable) of such refinancing, refunding, extending or renewing

  
 Annex A-29

 
Debt is not greater than the sum of (i) the principal amount (or accreted value, if applicable) of such Refinanced Debt plus (ii) an amount equal to unpaid accrued interest and premium
thereon and fees and expenses reasonably incurred in connection with such refinancing, refunding, extension or renewal, (b) such refinancing, refunding, extending or renewing Debt has a final maturity that is no earlier than the final maturity
of, and a weighted average life to maturity that is no shorter than the remaining weighted average life of, such Refinanced Debt, (c) if such Refinanced Debt or any Guarantees thereof are subordinated to the Obligations, such refinancing,
refunding, extending or renewing Debt and any Guarantees thereof remain so subordinated on terms no less favorable to the Lenders and (d) such refinancing, refunding, extending or renewing Debt does not contain mandatory redemption or
prepayment rights on the part of the borrower or issuer of such Debt or redemption or prepayment rights exercisable by the holder of such Debt, that in either case would require payment of greater amounts or at earlier dates by the borrower or
issuer of such Debt than the Debt so refinanced, refunded, extended or renewed; provided, further, that Permitted Refinancing Debt shall not include (i) Debt of a Borrower or a Guarantor that refinances, refunds, extends or renews
Debt of a Subsidiary that is not a Borrower or Guarantor or (ii) Debt of a Subsidiary that is not a Borrower or Guarantor that refinances, refunds, extends or renews Debt of a Borrower or a Guarantor. 

“Person” means any individual, sole proprietorship, partnership, limited liability company, joint
venture, trust, unincorporated organization, association, corporation, Governmental Authority, or any other entity. 
 “Plan” means an employee benefit plan (as defined in Section 3(3) of ERISA) which a Borrower or ERISA Affiliate sponsors or maintains or to which a Borrower makes, is making, or is
obligated to make contributions. 
 “Pledge Agreement” means the Second Amended and Restated
Pledge Agreement dated as of the date hereof among Borrowers, certain Subsidiaries of Borrowers and Agent for the benefit of Agent and other Lenders. 
 “Prime Rate” means a rate per annum equal to the prime rate of interest announced from time to time by the Bank or its parent (which is not necessarily the lowest rate charged to any
customer), changing when and as said prime rate changes. 
 “Proprietary Rights” means all of
the Borrowers’ now owned and hereafter arising or acquired: registered patents, patent applications, registered copyrights, copyright applications, registered trademarks, trademark applications, and all licenses and rights related to any of the
foregoing or to any technology or know-how, including, without limitation, those patents, trademarks, and copyrights set forth on Schedule 6.12 hereto, and all other rights under any of the foregoing, all extensions, renewals, reissues,
divisions, continuations, and continuations-in-part of any of the foregoing, and all rights to sue for past, present and future infringement of any of the foregoing. 

“Pro Rata Share” means, with respect to a Lender, a fraction (expressed as a percentage), the numerator
of which is the amount of such Lender’s Commitment and the denominator of which is the sum of the amounts of all of the Lenders’ Commitments, or if no Commitments are outstanding, a fraction (expressed as a percentage), the numerator of
which is 

  
 Annex A-30

 
the amount of Obligations owed to such Lender and the denominator of which is the aggregate amount of the Obligations owed to the Lenders, in each case giving effect to a Lender’s
participation in Swing Line Loans and Agent Advances; provided that in the case of Section 12.15(c) when a Defaulting Lender shall exist, any such Defaulting Lender’s Commitment shall be disregarded in the calculation. 

“Qualified Stock” shall mean any equity interests of Omnova other than Disqualified Stock. 

“Real Estate” means all of the Borrowers’ now or hereafter owned or leased estates in real
property, including, without limitation, all fees, leaseholds and future interests, together with all of the Borrowers’ now or hereafter owned or leased interests in the improvements thereon, the fixtures attached thereto and the easements
appurtenant thereto. 
 “Release” means a release, spill, emission, leaking, pumping,
injection, deposit, disposal, discharge, dispersal, leaching or migration of a Contaminant into the indoor or outdoor environment or into or out of any Real Estate or other property, including the movement of Contaminants through or in the air,
soil, surface water, groundwater or Real Estate or other property. 
 “Reportable Event”
means, any of the events set forth in Section 4043(b) of ERISA or the regulations thereunder, other than any such event for which the 30-day notice requirement under ERISA has been waived in regulations issued by the PBGC. 

“Required Lenders” means at any time Lenders whose Pro Rata Shares aggregate more than 66-2/3%.

 “Requirement of Law” means, as to any Person, any law (statutory or common), treaty, rule
or regulation or determination of an arbitrator or of a Governmental Authority, in each case applicable to or binding upon the Person or any of its property or to which the Person or any of its property is subject. 

“Reserves” means reserves that limit the availability of credit hereunder, consisting of reserves
against Availability established by Agent from time to time in Agent’s reasonable credit judgment. Without limiting the generality of the foregoing, the following reserves shall be deemed to be a reasonable exercise of Agent’s credit
judgment: (a) Bank Product Reserves, (b) a reserve for accrued, unpaid interest on the Obligations, (c) reserves for rent at leased locations subject to statutory or contractual landlord liens, (d) Inventory shrinkage,
(e) Environmental Compliance Reserves, (f) customs charges, (g) dilution, (h) warehousemen’s or bailees’ charges and (i) reserves established pursuant to Section 7.10. 

“Responsible Officer” means the chief executive officer or the president of a Borrower, or any other
officer having substantially the same authority and responsibility; or, with respect to compliance with financial covenants and the preparation of the Borrowing Base Certificate, the chief financial officer or the treasurer of the Borrower
Representative, or any other officer having substantially the same authority and responsibility. 

“Restricted Investment” has the meaning set forth in Section 7.11. 

  
 Annex A-31

 “Revolving Exposure” means, with respect to any Lender at
any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and an amount equal to its Pro Rata Share of the aggregate principal amount of Swing Line Loans at such time. 

“Revolving Loans” has the meaning specified in Section 1.2 and includes each Agent Advance
and Swing Line Loan. 
 “Revolving Loan Note” and “Revolving Loan Notes” have the
meanings specified in Section 1.2(a)(ii). 
 “Security Agreement” means the Second
Amended and Restated Security Agreement dated as of the date hereof among Borrowers, the Domestic Subsidiaries of Borrowers and Agent for the benefit of Agent and other Lenders. 

“Senior Notes” means the Senior Secured Notes maturing on November 1, 2018, bearing interest at
7.875% per annum, in the aggregate principal amount not to exceed $250,000,000. 
 “Senior Note
Documents” means the Indenture, the Senior Notes and all other agreements and instruments evidencing or governing the terms of the Senior Notes. 
 “Settlement” and “Settlement Date” have the meanings specified in Section 12.15(a)(ii). 

“Software” means all “software” as such term is defined in the UCC, now owned or hereafter
acquired by the Borrowers, other than software embedded in any category of Goods, including all computer programs and all supporting information provided in connection with a transaction related to any program. 

“Solvent” means, when used with respect to any Person, that at the time of determination: 

(a)       the assets of such Person, at a fair valuation, are in
excess of the total amount of its debts (including contingent liabilities); and 

(b)       the present fair saleable value of its assets is greater
than its probable liability on its existing debts as such debts become absolute and matured; and 
 (c)       it is then able and expects to be able to pay its debts (including contingent debts and other commitments) as they mature; and 

(d)       it has capital sufficient to carry on its business as
conducted and as proposed to be conducted. 
 For purposes of determining whether a Person is Solvent, the
amount of any contingent liability shall be computed as the amount that, in light of all the facts and 

  
 Annex A-32

 
circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“Standby LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all
outstanding standby Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC
Exposure of any Revolving Lender at any time shall be its Pro Rata Share of the total Standby LC Exposure at such time. 
 “Stated Termination Date” means December 9, 2015. 
 “Subsidiary” of a Person means any corporation, association, partnership, limited liability company, joint venture or other business entity of which more than fifty percent (50%) of
the voting stock or other equity interests (in the case of Persons other than corporations), is owned or controlled directly or indirectly by the Person, or one or more of the Subsidiaries of the Person, or a combination thereof. Unless the context
otherwise clearly requires, references herein to a “Subsidiary” refer to a Subsidiary of a Borrower; provided that except for Sections 6.5, 6.16 and 5.3(g), any reference to Subsidiary of a Borrower shall exclude any entity to be
formed for purposes of effecting transactions with the Asian Latex Businesses; provided further that at any time that the foregoing entity becomes a direct or indirect Wholly-Owned Subsidiary of a Borrower, the Borrower Representative
may at its option by written notice to the Agent designate such entity a Subsidiary for all purposes under this Agreement. 
 “Supporting Obligations” means all supporting obligations as such term is defined in the UCC, including letters of credit and guaranties issued in support of Accounts, Chattel Paper,
Documents, General Intangibles, Instruments, or Investment Property. 
 “Swing Line
Commitment” has the meaning specified in Section 1.2(h), which commitment constitutes a subfacility of the Commitment for Revolving Loans of the Bank. 

“Swing Line Exposure” means, at any time, the sum of the aggregate undrawn amount of all outstanding
Swing Line Loans at such time. The Swing Line Exposure of any Revolving Lender at any time shall be its Pro Rata Share of the total Swing Line Exposure at such time. 

“Swing Line Loan” has the meaning specified in Section 1.2(h). 

“Swing Line Note” has the meaning specified in Section 1.2(h). 

“Target” has the meaning set forth in the definition of “Permitted Acquisition”. 

“Taxes” means any and all present or future taxes, levies, imposts, deductions, charges or
withholdings, and all liabilities with respect thereto, excluding, in the case of each Lender and the Agent, such taxes (including income taxes or franchise taxes) as are imposed on or measured by the Agent’s or each Lender’s net income in
any the jurisdiction (whether federal, state or local and including any political subdivision thereof) under the laws of which such Lender or the Agent, as the case may be, is organized or maintains a lending office. 

  
 Annex A-33

 “Termination Date” means the earliest to occur of
(i) the Stated Termination Date, (ii) the date the Total Facility is terminated either by the Borrowers pursuant to Section 3.2 or by the Required Lenders pursuant to Section 9.2, and (iii) the date this Agreement is
otherwise terminated for any reason whatsoever pursuant to the terms of this Agreement. 
 “Term Loan
Agreement” means that certain Amended and Restated Term Loan Credit Agreement, dated as of the date hereof, by and among Omnova, Deutsche Bank Trust Company Americas, as agent and the lenders party thereto pursuant to which such lenders
extended to Omnova a term loan facility in the aggregate principal amount not to exceed $200,000,000 as such amount may be increased as permitted under Section 7.13 hereof (as amended, restated, supplemented, modified, replaced or
refinanced from time to time as permitted by the Intercreditor Agreement). 
 “Term Loan
Documents” means the Term Loan Agreement, the Loan Documents (as defined in the Term Loan Agreement) and each of the other agreements, documents and instruments executed and/or delivered in connection therewith (as each may be amended,
restated, supplemented, modified, renewed or extended from time to time in accordance with the provisions of the Intercreditor Agreement). 
 “Total Facility” has the meaning specified in Section 1.1. 
 “Total Indebtedness” means, at any date, the aggregate principal amount of all Debt of the Borrowers and their Subsidiaries at such date, determined on a consolidated basis in accordance
with GAAP. 
 “Transactions” means (i) the indefeasible repayment in full of the Acquired
Business Existing Indebtedness, (ii) the consummation of the Acquisition, (iii) the incurrence of Debt and related transactions under the Senior Note Documents and Term Loan Documents, (iv) the incurrence of any Revolving Loans
hereunder, (v) the internal corporate reorganization transactions described on Schedule 7 hereto and (vi) the payment of fees and expenses in connection with the foregoing. 

“UCC” means the Uniform Commercial Code, as in effect from time to time, of the State of Illinois or of
any other state the laws of which are required as a result thereof to be applied in connection with the issue of perfection of security interests; provided, that to the extent that the UCC is used to define any term herein or in any other
documents and such term is defined differently in different Articles or Divisions of the UCC, the definition of such term contained in Article or Division 9 shall govern. 

“Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities (within the
meaning of Code § 412, over the current value of that Pension Plan’s assets allocable to such benefit liability, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for
the applicable plan year. 
 “Unused Letter of Credit Subfacility” means an amount equal to
$15,000,000 minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.

  
 Annex A-34

 “Unused Line Fee” has the meaning specified in
Section 2.5. 
 Accounting Terms; GAAP. Except as otherwise expressly provided herein, all
terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower Representative notifies the Agent that the Borrowers request an amendment to any provision hereof
to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Agent notifies the Borrower Representative that the Required Lenders request an amendment to
any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied
immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 
 Interpretive Provisions. (a) The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms. 

(b)        The words “hereof,” “herein,” “hereunder”
and similar words refer to the Agreement as a whole and not to any particular provision of the Agreement; and Subsection, Section, Schedule and Exhibit references are to the Agreement unless otherwise specified. 

(c)       (i)    The term “documents” includes any and
all instruments, documents, agreements, certificates, indentures, notices and other writings, however evidenced. 
 (ii)    The term “including” is not limiting and means “including without limitation.” 

(iii)    In the computation of periods of time from a specified date to a later
specified date, the word “from” means “from and including,” the words “to” and “until” each mean “to but excluding” and the word “through” means “to and including.” 

(iv)    The word “or” is not exclusive. 

(d)       Unless otherwise expressly provided herein, (i) references to
agreements (including the Agreement) and other contractual instruments shall be deemed to include all subsequent amendments and other modifications thereto, but only to the extent such amendments and other modifications are not prohibited by the
terms of any Loan Document, and (ii) references to any statute or regulation are to be construed as including all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting the statute or regulation.

 (e)       The captions and headings of the Agreement and other Loan
Documents are for convenience of reference only and shall not affect the interpretation of the Agreement. 

(f)       The Agreement and other Loan Documents may use several different
limitations, tests or measurements to regulate the same or similar matters. All such limitations, tests and measurements are cumulative and shall each be performed in accordance with their terms. 

  
 Annex A-35

 (g)       For purposes of
Section 9.1, a breach of a financial covenant contained in Section 7.23 shall be deemed to have occurred as of any date of determination thereof by the Agent or as of the last day of any specified measuring period, regardless of
when the Financial Statements reflecting such breach are delivered to the Agent. 

(h)       The Agreement and the other Loan Documents are the result of negotiations
among and have been reviewed by counsel to the Agent, the Borrowers and the other parties, and are the products of all parties. Accordingly, they shall not be construed against the Lenders or the Agent merely because of the Agent’s or
Lenders’ involvement in their preparation. 

  
 Annex A-36

 EXHIBIT A-1 
 FORM OF REVOLVING LOAN NOTE 

  
 Exhibit A-1-1

 EXHIBIT A-1 
 to 
 SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

FORM OF THIRD AMENDED AND RESTATED REVOLVING LOAN NOTE 
 Chicago, Illinois 

$    ,    ,    ,     

             , 20     

FOR VALUE RECEIVED, the undersigned, OMNOVA SOLUTIONS INC., an Ohio corporation, and ELIOKEM, INC., a Delaware corporation (together,
the “Borrowers”), HEREBY JOINTLY AND SEVERALLY PROMISE TO PAY to the order of                     
(“Lender”), at the offices of JPMORGAN CHASE BANK, N.A., as Agent for Lenders (“Agent”), at its address at 10 South Dearborn Street, Chicago, IL 60603, 22nd Floor, or at such other place as Agent may designate from
time to time in writing, in lawful money of the United States of America and in immediately available funds, the amount of
                     DOLLARS AND              CENTS
($    ,    ,    ) or, if less, the aggregate unpaid amount of all Revolving Loans made to the undersigned under the “Credit Agreement” (as hereinafter
defined). All capitalized terms used but not otherwise defined herein have the meanings given to them in the Credit Agreement or in Annex A thereto. 
 This Third Amended and Restated Revolving Loan Note (the “Revolving Loan Note”) is one of the Revolving Loan Notes issued pursuant to that certain Second Amended and Restated Credit
Agreement dated as of December 9, 2010 by and among Borrowers, Agent, Lender and the other Persons signatory thereto from time to time as Lenders (including all annexes, exhibits and schedules thereto, and as from time to time amended,
restated, supplemented or otherwise modified, the “Credit Agreement”), and is entitled to the benefit and security of the Credit Agreement, the Security Agreement and all of the other Loan Documents referred to therein. Reference is
hereby made to the Credit Agreement for a statement of all of the terms and conditions under which the Loans evidenced hereby are made and are to be repaid. The date and amount of each Revolving Loan made by Lenders to Borrowers, the rates of
interest applicable thereto and each payment made on account of the principal thereof, shall be recorded by Agent on its books; provided that the failure of Agent to make any such recordation shall not affect the obligations of Borrowers to make a
payment when due of any amount owing under the Credit Agreement or this Revolving Loan Note in respect of the Revolving Loan made by Lender to Borrowers. 
 The principal amount of the indebtedness evidenced hereby shall be payable in the amounts and on the dates specified in the Credit Agreement, the terms of which are hereby incorporated herein by
reference. Interest thereon shall be paid until such principal amount is paid in full at such interest rates and at such times, and pursuant to such calculations, as are specified in the Credit Agreement. The terms of the Credit Agreement are hereby
incorporated herein by reference. 

  
 Exhibit A-1

 If any payment on this Revolving Loan Note becomes due and payable on a day other than a
Business Day, the payment thereof shall be extended to the next succeeding Business Day and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension. 

Upon and after the occurrence of any Event of Default, this Revolving Loan Note may, as provided in the Credit Agreement, and without
presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other legal requirement of any kind (all of which are hereby expressly waived by Borrowers), be declared, and immediately shall become, due and payable.

 Time is of the essence of this Revolving Loan Note. 

Except as provided in the Credit Agreement, this Revolving Loan Note may not be assigned by Lender to any Person. 

THIS REVOLVING LOAN NOTE SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF
ILLINOIS WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES. 
 This Revolving Loan Note is issued in substitution of the Second
Amended and Restated Revolving Loan Note issued to Lender on             , 200     (the “Prior Note”). The Revolving Loans outstanding
under the Prior Note shall continue in all respects and this Revolving Loan Note shall not be deemed to evidence a novation or a repayment and reborrowing of amounts outstanding under the Prior Note. 

 

			
	BORROWERS:
	
	OMNOVA SOLUTIONS INC.
		
	By:	 	  

	Title:	 	  

	
	ELIOKEM, INC.
		
	By:	 	  

	Title:	 	  

  
 Exhibit A-1

 EXHIBIT A-2 
 FORM OF SWING LINE NOTE 

  
 Exhibit A-2-1

 EXHIBIT A-2 
 to 
 SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

FORM OF SECOND AMENDED AND RESTATED SWING LINE NOTE 
 Chicago, Illinois 
 $10,000,000 

[            ], 2010 

FOR VALUE RECEIVED, the undersigned, OMNOVA SOLUTIONS INC., an Ohio corporation, and ELIOKEM, INC., a Delaware corporation (together,
the “Borrowers”), HEREBY JOINTLY AND SEVERALLY PROMISE TO PAY to the order of JPMORGAN CHASE BANK, N.A. (“Swing Line Lender”) at the offices of JPMORGAN CHASE BANK, N.A., as Agent (in such capacity, the
“Agent”) at the Agent’s address at 10 South Dearborn Street, Chicago, IL 60603, 22nd Floor, or at such other place as Agent may designate from time to time in writing, in lawful money of the United States of America and in
immediately available funds, the amount of TEN MILLION DOLLARS AND NO CENTS ($10,000,000) or, if less, the aggregate unpaid amount of all Swing Line Loans made to the undersigned under the “Credit Agreement” (as hereinafter defined). All
capitalized terms used but not otherwise defined herein have the meanings given to them in the Credit Agreement or in Annex A thereto. 
 This Second Amended and Restated Swing Line Note (the “Swing Line Note”) is issued pursuant to that certain Second Amended and Restated Credit Agreement dated as of December 9, 2010
by and among Borrowers, Agent, Swing Line Lender and the other Persons signatory thereto from time to time as Lenders (including all annexes, exhibits and schedules thereto and as from time to time amended, restated, supplemented or otherwise
modified, the “Credit Agreement”), and is entitled to the benefit and security of the Credit Agreement, the Security Agreement and all of the other Loan Documents. Reference is hereby made to the Credit Agreement for a statement of
all of the terms and conditions under which the Loans evidenced hereby are made and are to be repaid. The date and amount of each Swing Line Loan made by Swing Line Lender to Borrowers, the rate of interest applicable thereto and each payment made
on account of the principal thereof, shall be recorded by Agent on its books; provided that the failure of Agent to make any such recordation shall not affect the obligations of Borrowers to make a payment when due of any amount owing under the
Credit Agreement or this Swing Line Note in respect of the Swing Line Loans made by Swing Line Lender to Borrowers. 
 The
principal amount of the indebtedness evidenced hereby shall be payable in the amounts and on the dates specified in the Credit Agreement, the terms of which are hereby incorporated herein by reference. Interest thereon shall be paid until such
principal amount is paid in full at such interest rates and at such times, and pursuant to such calculations, as are specified in the Credit Agreement. The terms of the Credit Agreement are hereby incorporated herein by reference. 

If any payment on this Swing Line Note becomes due and payable on a day other than a Business Day, the payment thereof shall be extended
to the next succeeding Business Day 

  
 Exhibit A-2

 
and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension. 

Upon and after the occurrence of any Event of Default, this Swing Line Note may, as provided in the Credit Agreement, and without
presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other legal requirement of any kind (all of which are hereby expressly waived by Borrowers), be declared, and immediately shall become, due and payable.

 Time is of the essence of this Swing Line Note. 
 Except as provided in the Credit Agreement, this Swing Line Note may not be assigned by Lender to any Person. 
 THIS SWING LINE NOTE SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF ILLINOIS WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES. 

This Swing Line Note is issued in substitution of the Swing Loan Note issued to Swing Line Lender on May 22, 2007 (the
“Prior Note”). The Swing Line Loans outstanding under the Prior Note shall continue in all respects and this Swing Line Note shall not be deemed to evidence a novation or a repayment and reborrowing of amounts outstanding under the
Prior Note. 
  

			
	BORROWERS:
	
	OMNOVA SOLUTIONS INC.
		
	By:	 	  

	Title:	 	  

	
	ELIOKEM, INC.
		
	By:	 	  

	Title:	 	  

  
 Exhibit A-2

 EXHIBIT B 
 FORM OF BORROWING BASE CERTIFICATE 

  
 Exhibit B-1

									
	

 
	
  
	 	 Report
#
 Period Covered:
 Date Received:

	BORROWING BASE CERTIFICATE
	ACCOUNTS RECEIVABLE and INVENTORY.
	 
	Borrower Number:	  	 	 	 	 	 	  	 
	 Facility

 
 Description
	  	 	 	 	 	 	  	 
	  			 	 	 	  	 
	Collateral Type	  	 	A/R	  	 	Inventory	  	Total
	1. Beginning Balance ( Previous report - Line 9)	  	 	-    	  	 	 	  	-    
	ADDITIONS	  	 	 	 	 	 	  	 
	2. Gross Sales	  	 	-    	  	 	 	  	-    
	3. Miscellaneous. Debits	  	 	-    	  	 	 	  	-    
	DEDUCTIONS	  	 	-    	  	 	 	  	 
	4. Collections (Net Cash)	  	 	-    	  	 	 	  	-    
	5. Discounts Allowed	  	 	-    	  	 	 	  	-    
	6. Credit Memos (Dilutive)	  	 	-    	  	 	 	  	-    
	7. Writeoffs/(recoveries)	  	 	-    	  	 	 	  	-    
	8. Miscellaneous Credits (Non-Dilutive)	  	 	-    	  	 	 	  	 
	9. Gross Balance This Report	  	 	-    	  	 	-    	  	-    
	9a. Net Unapplied Cash Receipts	  	 	 	 	 	 	  	 
	10. Total Ineligibles	  	 	-    	  	 	-    	  	-    
	11. Total Eligible	  	 	-    	  	 	-    	  	-    
	12. Advance rate	  	 	85	% 	 	#DIV/0!	  	 
	13. Borrowing Base Value	  	 	-    	  	 	-    	  	-    
	14. Facility Cap	  	 	 	 	 	 	  	90,000,000
	15. Revolver Loan Availability (Lower of Line 13 & 14)	  	 	 	 	 	 	  	-    
	16.SWAP Reserve	  	 	 	 	 	 	  	 
	17. Total Revolver Loan Availability (Line 15 minus 16 )	  	 	 	 	 	 	  	-    
	 	  	 	 	 	 	 	  	 
	LOAN & LC’s	  	 	 	 	 	 	  	 
	  
 18. Previous Loan Balance (Previous Report Line 21)
  
	  	 	 	 	 	 	  	-    
	19. Less: A. Cash Collections A/R	  	 	 	 	 	 	  	 
	 B. Cash Collections Non A/R
	  	 	 	 	 	 	  	 
	 C. Returns
	  	 	 	 	 	 	  	 
	 D. Suspense Cash
	  	 	 	 	 	 	  	 
	 E. Cash to Operating Account
	  	 	 	 	 	 	  	 
	 F. Change in Cash Remaining
	  	 	 	 	 	 	  	 
	20. Add: A. Borrowings	  	 	 	 	 	 	  	 
	 B. Return Items
	  	 	 	 	 	 	  	 
	 C. Other (Interest, Fees, Misc.) to Oper. Acct.
	  	 	 	 	 	 	  	 
	21. New Loan Balance	  	 	-    	  	 	-    	  	-    
	22	  	 	 	 	 	 	  	 
	23. Standby LC’s	  	 	 	 	 	 	  	 
	24. Total Reserves(Lines 22+23) (Max $ mm)	  	 	 	 	 	 	  	-    
	25. Total Exposure (Line 21 Plus Line 24)	  	 	 	 	 	 	  	-    
	26. Excess Availability (Line 17 less Line 25)	  	 	 	 	 	 	  	-    
	 
	 Pursuant to, and in accordance with, the terms and provisions of that certain Amended and Restated Credit Agreement (*Agreement”), dated as of May 22, 2007, among JPMorgan Chase Bank, N.A.
(“Agent”), as Agent for Lenders, OMNOVA Solutions Inc. (“Borrower”) and the Lenders party thereto from time to time, Borrower is executing and delivering to Agent this Collateral Report accompanied by supporting date
(collectively referred to as (“Report”). Borrower warrants and represents to Agent that this Report is true, correct, and based on information contained in Borrower’s own financial accounting records. Borrower, by the execution of
this Report, hereby ratifies, confirms and affirms all of the terms, conditions and provisions of the Agreement, and further certifies on this of
            ,    , that the Borrower is in compliance with said Agreement.
  

	BORROWER NAME:	  				 		  	 
	 OMNOVA Solutions Inc.

 
	  				 		  	 
	FOR BANK USE ONLY:	  	 	PROOF BY:	  	 	APPROVED BY:	  	 

 EXHIBIT C 
 NOTICE OF BORROWING 
 Date:
            , 200     
  

	To:	JPMorgan Chase Bank, N.A. as Agent for the Lenders who are parties to the Second Amended and Restated Credit Agreement dated as of December 9, 2010 (as extended,
renewed, amended or restated from time to time, the “Credit Agreement”) among OMNOVA Solutions Inc., Eliokem, Inc., certain Lenders which are signatories thereto and JPMorgan Chase Bank, N.A., as Agent 

Ladies and Gentlemen: 
 The undersigned, OMNOVA Solutions Inc. (the “Borrower Representative”), refers to the Credit Agreement, the terms defined therein being used herein as therein defined, and hereby gives
you notice irrevocably of the Borrowing specified below: 
  

	 	1.	The Business Day of the proposed Borrowing is            , 200    .

  

	 	2.	The aggregate amount of the proposed Borrowing is $        . 

 

	 	3.	The Borrowing is to be comprised of $         of CBFR and $         of
Eurodollar Revolving Loans. 

  

	 	4.	The duration of the Interest Period for Eurodollar Revolving Loans, if any, included in the Borrowing shall be      months.

 The undersigned hereby certifies that the following statements are true on the date hereof,
and will be true on the date of the proposed Borrowing, before and after giving effect thereto and to the application of the proceeds therefrom: 
 (a)    The representations and warranties of the Borrowers contained in the Credit Agreement are true and correct as though made on and as of such date; 

(b)    No Default or Event of Default has occurred and is continuing, or would result from such
proposed Borrowing; 
 (c)    No event has occurred and is continuing, or would result from
such extension of credit, which has had or would have a Material Adverse Effect; and 

(d)    The proposed Borrowing will not cause the aggregate principal amount of all outstanding
Revolving Loans [plus the aggregate amount available for drawing under all outstanding Letters of Credit], to exceed the Borrowing Base or the combined Commitments of the Lenders. 

  
 Exhibit C-1

 
			
	 OMNOVA SOLUTIONS INC.,
 as Borrower Representative

	By:	 	  

		
	Title:	 	  

  
 Exhibit C-2

 EXHIBIT D 
 NOTICE OF CONTINUATION/CONVERSION 
 Date:
            , 200     
  

	To:	JPMorgan Chase Bank, N.A. as Agent for the Lenders to the Second Amended and Restated Credit Agreement dated as of December 9, 2010 (as extended, renewed, amended
or restated from time to time, the “Credit Agreement”) among OMNOVA Solutions Inc., Eliokem, Inc., certain Lenders which are signatories thereto and JPMorgan Chase Bank, N.A., as Agent 

Ladies and Gentlemen: 
 The undersigned, OMNOVA Solutions Inc. (the “Borrower Representative”), refers to the Credit Agreement, the terms defined therein being used herein as therein defined, and hereby gives
you notice irrevocably of the [conversion] [continuation] of the Loans specified herein, that: 
  

	 	1.	The Continuation/Conversion Date is             , 200    .

  

	 	2.	 The aggregate amount of the Loans to be [converted] [continued] is $            .

  

	 	3.	 The Loans are to be [converted into] [continued as] [Eurodollar Revolving] [CBFR Revolving] Loans. 

 

	 	4.	 The duration of the Interest Period for the Eurodollar Revolving Loans included in the [conversion] [continuation] shall be months.

 The undersigned hereby certifies that the following statements are true on the date
hereof, and will be true on the proposed Continuation/Conversion Date, before and after giving effect thereto and to the application of the proceeds therefrom: 

(a)    The representations and warranties of the Borrowers contained in the Credit
Agreement are true and correct as though made on and as of such date; 

(b)    Default or Event of Default has occurred and is continuing, or would result
from such proposed [conversion] [continuation]; and 

  
 Exhibit D-1

 (c)    The proposed
conversion-continuation will not cause the aggregate principal amount of all outstanding Revolving Loans [plus the aggregate amount available for drawing under all outstanding Letters of Credit] to exceed the Borrowing Base or the combined
Commitments of the Lenders. 
  

			
	 OMNOVA SOLUTIONS INC.,

as Borrower Representative

		
	 By:
	 	  

		
	 Title:
	 	  

  
 Exhibit D-2

 EXHIBIT E 
 [FORM OF] ASSIGNMENT AND ACCEPTANCE AGREEMENT 
 This
ASSIGNMENT AND ACCEPTANCE AGREEMENT (this “Assignment and Acceptance”) dated as of             , 200     is made between
                   (the “Assignor”) and
                     (the “Assignee”). 
 RECITALS 
 WHEREAS, the Assignor is party to that certain
the Second Amended and Restated Credit Agreement dated as of December 9, 2010 (as amended, amended and restated, modified, supplemented or renewed, the “Credit Agreement”) among OMNOVA Solutions Inc., an Ohio corporation
(“Omnova”), Eliokem, Inc., a Delaware corporation (“Eliokem” and together with Omnova, the “Borrowers” and each a “Borrower”), the several financial institutions from time to time
party thereto (including the Assignor, the “Lenders”), and JPMorgan Chase Bank, N.A., as agent for the Lenders (the “Agent”). Any terms defined in the Credit Agreement and not defined in this Assignment and
Acceptance are used herein as defined in the Credit Agreement; 
 WHEREAS, as provided under the Credit
Agreement, the Assignor has committed to making Loans (the “Committed Loans”) to the Borrowers in an aggregate amount not to exceed $         (the “Commitment”);

 WHEREAS, the Assignor has made Committed Loans in the aggregate principal amount of
$         to the Borrowers; 
 WHEREAS, [the Assignor has
acquired a participation in its pro rata share of the Lenders’ liabilities under Letters of Credit in an aggregate principal amount of $         (the “L/C Obligations”)] [no
Letters of Credit are outstanding under the Credit Agreement]; and 
 WHEREAS, the Assignor wishes to assign to
the Assignee [part of the] [all] rights and obligations of the Assignor under the Credit Agreement in respect of its Commitment, together with a corresponding portion of each of its outstanding Committed Loans and L/C Obligations, in an amount equal
to $         (the “Assigned Amount”) on the terms and subject to the conditions set forth herein and the Assignee wishes to accept assignment of such rights and to assume such
obligations from the Assignor on such terms and subject to such conditions; 
 NOW, THEREFORE, in consideration
of the foregoing and the mutual agreements contained herein, the parties hereto agree as follows: 
  

	 	1.	Assignment and Acceptance. 

 (a)      Subject to the terms and conditions of this Assignment and Acceptance, (i) the Assignor hereby sells, transfers and assigns to the Assignee, and (ii) the
Assignee hereby purchases, assumes and undertakes from the Assignor, without recourse and without 

  
 Exhibit E-1

 
representation or warranty (except as provided in this Assignment and Acceptance) __% (the “Assignee’s Percentage Share”) of (A) the Commitment, the Committed Loans and
the L/C Obligations of the Assignor and (B) all related rights, benefits, obligations, liabilities and indemnities of the Assignor under and in connection with the Credit Agreement and the Loan Documents. 

(b)      With effect on and after the Effective Date (as defined in Section 5
hereof), the Assignee shall be a party to the Credit Agreement and succeed to all of the rights and be obligated to perform all of the obligations of a Lender under the Credit Agreement, including the requirements concerning confidentiality and the
payment of indemnification, with a Commitment in an amount equal to the Assigned Amount. The Assignee agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be
performed by it as a Lender. It is the intent of the parties hereto that the Commitment of the Assignor shall, as of the Effective Date, be reduced by an amount equal to the Assigned Amount and the Assignor shall relinquish its rights and be
released from its obligations under the Credit Agreement to the extent such obligations have been assumed by the Assignee; provided, however, the Assignor shall not relinquish its rights under Sections      and
     of the Credit Agreement to the extent such rights relate to the time prior to the Effective Date. 
 (c)      After giving effect to the assignment and assumption set forth herein, on the Effective Date the Assignee’s Commitment will be
$        . 
 (d)      After
giving effect to the assignment and assumption set forth herein, on the Effective Date the Assignor’s Commitment will be $        . 

 

	 	2.	Payments. 

 (a)      As consideration for the sale, assignment and transfer contemplated in Section 1 hereof, the Assignee shall pay to the Assignor on the Effective Date in
immediately available funds an amount equal to $        , representing the Assignee’s Pro Rata Share of the principal amount of all Committed Loans. 

(b)      The Assignee further agrees to pay to the Agent a processing fee in the amount
specified in Section 11.2(a) of the Credit Agreement. 
  

	 	3.	Reallocation of Payments. 

 Any interest, fees and other payments accrued to the Effective Date with respect to the Commitment, and Committed Loans and L/C Obligations shall be for the account of the Assignor. Any interest, fees and
other payments accrued on and after the Effective Date with respect to the Assigned Amount shall be for the account of the Assignee. Each of the Assignor and the Assignee agrees that it will hold in trust for the other party any interest, fees and
other amounts which it may receive to which the other party is entitled pursuant to the preceding sentence and pay to the other party any such amounts which it may receive promptly upon receipt. 

 

	 	4.	Independent Credit Decision. 

  
 Exhibit E-2

 The Assignee (a) acknowledges that it has received a copy of the
Credit Agreement and the Schedules and Exhibits thereto, together with copies of the most recent financial statements of the Borrowers, and such other documents and information as it has deemed appropriate to make its own credit and legal analysis
and decision to enter into this Assignment and Acceptance; and (b) agrees that it will, independently and without reliance upon the Assignor, the Agent or any other Lender and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit and legal decisions in taking or not taking action under the Credit Agreement. 
  

	 	5.	Effective Date; Notices. 

 (a)      As between the Assignor and the Assignee, the effective date for this Assignment and Acceptance shall be
            , 200     (the “Effective Date”); provided that the following conditions precedent have been satisfied on or before the
Effective Date: 
 (i)        this Assignment and Acceptance shall be
executed and delivered by the Assignor and the Assignee; 
 [(ii)      the
consent of the Agent required for an effective assignment of the Assigned Amount by the Assignor to the Assignee shall have been duly obtained and shall be in full force and effect as of the Effective Date;] 

(iii)      the Assignee shall pay to the Assignor all amounts due to the Assignor under
this Assignment and Acceptance; 
 [(iv)    the Assignee shall have complied with
Section 11.2 of the Credit Agreement (if applicable);] 
 (v)      the
processing fee referred to in Section 2(b) hereof and in Section 11.2(a) of the Credit Agreement shall have been paid to the Agent; and 
 (b)    Promptly following the execution of this Assignment and Acceptance, the Assignor shall deliver to the Borrower Representative and the Agent for acknowledgment by the Agent, a
Notice of Assignment in the form attached hereto as Schedule 1. 
  

	 	6.	[Agent. [INCLUDE ONLY IF ASSIGNOR IS AGENT] 

 (a)      The Assignee hereby appoints and authorizes the Assignor to take such action as agent on its behalf and to exercise such powers under the Credit Agreement as are
delegated to the Agent by the Lenders pursuant to the terms of the Credit Agreement. 

(b)      The Assignee shall assume no duties or obligations held by the Assignor in its
capacity as Agent under the Credit Agreement.] 
  

	 	7.	Withholding Tax. 

 The Assignee (a) represents and warrants to the Lender, the Agent and the Borrowers that under applicable law and treaties no tax will be required to be withheld by the

  
 Exhibit E-3

 
Lender with respect to any payments to be made to the Assignee hereunder, (b) agrees to furnish (if it is organized under the laws of any jurisdiction other than the United States or any
State thereof) to the Agent and the Borrower Representative prior to the time that the Agent or Borrowers are required to make any payment of principal, interest or fees hereunder, duplicate executed originals of either U.S. Internal Revenue Service
Form W-8ECI or U.S. Internal Revenue Service Form W-8BEN (wherein the Assignee claims entitlement to the benefits of a tax treaty that provides for a complete exemption from U.S. federal income withholding tax on all payments hereunder) and agrees
to provide new Forms W-8ECI or W-8BEN upon the expiration of any previously delivered form or comparable statements in accordance with applicable U.S. law and regulations and amendments thereto, duly executed and completed by the Assignee, and
(c) agrees to comply with all applicable U.S. laws and regulations with regard to such withholding tax exemption. 
  

	 	8.	Representations and Warranties. 

 (a)      The Assignor represents and warrants that (i) it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free
and clear of any Lien or other adverse claim; (ii) it is duly organized and existing and it has the full power and authority to take, and has taken, all action necessary to execute and deliver this Assignment and Acceptance and any other
documents required or permitted to be executed or delivered by it in connection with this Assignment and Acceptance and to fulfill its obligations hereunder; (iii) no notices to, or consents, authorizations or approvals of, any Person are
required (other than any already given or obtained) for its due execution, delivery and performance of this Assignment and Acceptance, and apart from any agreements or undertakings or filings required by the Credit Agreement, no further action by,
or notice to, or filing with, any Person is required of it for such execution, delivery or performance; and (iv) this Assignment and Acceptance has been duly executed and delivered by it and constitutes the legal, valid and binding obligation
of the Assignor, enforceable against the Assignor in accordance with the terms hereof, subject, as to enforcement, to bankruptcy, insolvency, moratorium, reorganization and other laws of general application relating to or affecting creditors’
rights and to general equitable principles. 
 (b)      The Assignor makes no
representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Credit Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency
or value of the Credit Agreement or any other instrument or document furnished pursuant thereto. The Assignor makes no representation or warranty in connection with, and assumes no responsibility with respect to, the solvency, financial condition or
statements of the Borrowers, or the performance or observance by the Borrowers, of any of its respective obligations under the Credit Agreement or any other instrument or document furnished in connection therewith. 

(c)      The Assignee represents and warrants that (i) it is duly organized and
existing and it has full power and authority to take, and has taken, all action necessary to execute and deliver this Assignment and Acceptance and any other documents required or permitted to be executed or delivered by it in connection with this
Assignment and Acceptance, and to fulfill its obligations hereunder; (ii) no notices to, or consents, authorizations or approvals of, any Person are required (other than any already given or obtained) for its due execution, delivery and

  
 Exhibit E-4

 
performance of this Assignment and Acceptance; and apart from any agreements or undertakings or filings required by the Credit Agreement, no further action by, or notice to, or filing with, any
Person is required of it for such execution, delivery or performance; (iii) this Assignment and Acceptance has been duly executed and delivered by it and constitutes the legal, valid and binding obligation of the Assignee, enforceable against
the Assignee in accordance with the terms hereof, subject, as to enforcement, to bankruptcy, insolvency, moratorium, reorganization and other laws of general application relating to or affecting creditors’ rights and to general equitable
principles; [and (iv) it is an Eligible Assignee.] 
  

	 	9.	Further Assurances. 

 The Assignor and the Assignee each hereby agree to execute and deliver such other instruments, and take such other action, as either party may reasonably request in connection with the transactions
contemplated by this Assignment and Acceptance, including the delivery of any notices or other documents or instruments to the Borrower Representative or the Agent, which may be required in connection with the assignment and assumption contemplated
hereby. 
  

	 	10.	Miscellaneous. 

 (a)      Any amendment or waiver of any provision of this Assignment and Acceptance shall be in writing and signed by the parties hereto. No failure or delay by either party
hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof and any waiver of any breach of the provisions of this Assignment and Acceptance shall be without prejudice to any rights with respect to any other or
further breach thereof. 
 (b)      All payments made hereunder shall be made
without any set-off or counterclaim. 
 (c)      The Assignor and the Assignee
shall each pay its own costs and expenses incurred in connection with the negotiation, preparation, execution and performance of this Assignment and Acceptance. 

(d)      This Assignment and Acceptance may be executed in any number of counterparts and
all of such counterparts taken together shall be deemed to constitute one and the same instrument. 

(e)      THIS ASSIGNMENT AND ACCEPTANCE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAW OF THE STATE OF                     . The Assignor and the Assignee each irrevocably submits to the non-exclusive jurisdiction of
any State or Federal court sitting in [                    ] over any suit, action or proceeding arising out of or relating to this Assignment
and Acceptance and irrevocably agrees that all claims in respect of such action or proceeding may be heard and determined in such
[                    ] State or Federal court. Each party to this Assignment and Acceptance hereby irrevocably waives, to the fullest extent
it may effectively do so, the defense of an inconvenient forum to the maintenance of such action or proceeding. 

  
 Exhibit E-5

 (f)      THE ASSIGNOR AND THE ASSIGNEE EACH
HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS ASSIGNMENT AND ACCEPTANCE, THE CREDIT AGREEMENT, ANY
RELATED DOCUMENTS AND AGREEMENTS OR ANY COURSE OF CONDUCT, COURSE OF DEALING, OR STATEMENTS (WHETHER ORAL OR WRITTEN). 
 IN WITNESS WHEREOF, the Assignor and the Assignee have caused this Assignment and Acceptance to be executed and delivered by their duly authorized officers as of the date first above written. 

 

			
	[ASSIGNOR]
		
	 By:
	 	
 

			
	 Title:
	 	
 

			
	 Address:
	 	  

	
	[ASSIGNEE]

			
		
	 By:
	 	
 

			
	 Title:
	 	
 

			
	 Address:
	 	  

  
 Exhibit E-6

 SCHEDULE 1 
 to 
 ASSIGNMENT AND ACCEPTANCE 

NOTICE OF ASSIGNMENT AND ACCEPTANCE 
             , 200     
  

					
	 JPMorgan Chase Bank, N.A.
	  	
	 	  	 	  	
	 	  	 	  	
	 Attn: 
	  	 	  	
			
	 Re:
	  	OMNOVA Solutions Inc.	  	
		  	Eliokem, Inc.	  	
		  	175 Ghent Road	  	
		  	Fairlawn, OH 44333	  	

 Ladies and Gentlemen: 
 We refer to the Second Amended and Restated Credit Agreement dated as of
[                    ] (as amended, amended and restated, modified, supplemented or renewed from time to time the “Credit
Agreement”) among OMNOVA Solutions Inc. (“Omnova”), Eliokem, Inc., a Delaware corporation, (“Eliokem” and together with Omnova, the “Borrowers” and each a “Borrower”), the
Lenders referred to therein and JPMorgan Chase Bank, N.A., as agent for the Lenders (the “Agent”). Terms defined in the Credit Agreement are used herein as therein defined. 

1.      We hereby give you notice of, and request your consent to, the assignment by
                     (the “Assignor”) to
                     (the “Assignee”) of     % of the right, title and interest of the Assignor in
and to the Credit Agreement (including the right, title and interest of the Assignor in and to the Commitments of the Assignor, all outstanding Loans made by the Assignor and the Assignor’s participation in the Letters of Credit pursuant to the
Assignment and Acceptance Agreement attached hereto (the “Assignment and Acceptance”). We understand and agree that the Assignor’s Commitment, as of
            , 200    , is $        , the aggregate amount of its outstanding Loans is
$        , and its participation in L/C Obligations is $        . 

2.      The Assignee agrees that, upon receiving the consent of the Agent and, if
applicable, the Borrowers to such assignment, the Assignee will be bound by the terms of the Credit Agreement as fully and to the same extent as if the Assignee were the Lender originally holding such interest in the Credit Agreement. 

3.      The following administrative details apply to the Assignee: 

  
 Schedule 1-1

			
	(A)	 	Notice Address:
		
		 	Assignee name:                          
         
		 	Address: _______________________
		 	  _______________________

		 	  _______________________

		 	Attention:                           
                  
		 	Telephone: (        )                 
             
		 	Telecopier: (        )                 
             
		 	Telex (Answerback):                        
  

					
		
	     (B)     	 	Payment Instructions:
			
		 	Account No.:	 	                             
                 
		 	At:	 	                             
                 
		 		 	                             
                 
		 		 	                             
                 
		 	Reference:	 	                             
                 
		 	Attention:	 	                             
                 

 4.       You are entitled to rely upon the representations, warranties and covenants of each of the Assignor and Assignee contained in the Assignment and Acceptance.

 IN WITNESS WHEREOF, the Assignor and the Assignee have caused this Notice of Assignment and Acceptance to be
executed by their respective duly authorized officials, officers or agents as of the date first above mentioned. 
  

			
	Very truly yours,
	
	[NAME OF ASSIGNOR]
		
	By:	 	  

		
	Title:	 	  

	
	[NAME OF ASSIGNEE]
		
	By:	 	  

		
	Title:	 	  

 

			
	 ACKNOWLEDGED AND ASSIGNMENT
 CONSENTED TO:

	
	 JPMorgan Chase Bank, N.A.
 as Agent

		
	By:	 	  

	Title:	 	  

  
 Schedule 1-2

 SCHEDULE 1.2 
 COMMITMENTS 
  

							
	Lender	  	Revolving Loan Commitment	  	Swing Line Loan
Commitment	  	Pro Rata
Share
				
	 JPMorgan Chase Bank
	  	$30,000,000	  	$10,000,000	  	30%
				
	 PNC
	  	$20,000,000	  		  	20%
				
	 Fifth Third Bank
	  	$25,000,000	  		  	25%
				
	 KeyBank
	  	$25,000,000	  		  	25%

  
 Schedule 1.2-1

 Exhibit F 
 FORM OF INTERCOMPANY NOTE 
 [This Note, and the obligations of [NAME OF PAYOR] (the
“Payor”) hereunder, shall be subordinate and junior in right of payment to all Senior Indebtedness (as defined in Section 1.07 of Annex A hereto) on the terms and conditions set forth in Annex A hereto, which Annex A is herein
incorporated by reference and made a part hereof as if set forth herein in its entirety. Annex A shall not be amended, modified or supplemented without the written consent of the Required Lenders (as defined in each of the Credit Agreements referred
to below) (or, after such Credit Agreements have been terminated, the other holders holding a majority of the outstanding other Senior Indebtedness)]1 

New York, New York 

[Date] 
 FOR
VALUE RECEIVED,
                                         
               , a                     
[corporation][company][partnership] (the “Payor”), hereby promises to pay on demand to the order of
                                (the “Payee”), in lawful money of the
United States of America in immediately available funds, at such location in the United States of America as the Payee shall from time to time designate, the unpaid principal amount of all loans and advances made by the Payee to the Payor.

 The Payor promises also to pay interest on the unpaid principal amount hereof in like money at said office from the date
hereof until paid at such rate per annum as shall be agreed upon from time to time by the Payor and the Payee. 
 Upon the
earlier to occur of (x) the commencement of any bankruptcy, reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar proceeding of any jurisdiction relating to the Payor or
(y) any exercise of remedies in respect of the Collateral pursuant to any of the Loan Documents as defined in the Credit Agreements referred to below, the unpaid principal amount hereof shall become immediately due and payable without
presentment, demand, protest or notice of any kind in connection with this Note. 
 This Note is one of the Intercompany Notes
referred to in (i) the ABL Credit Agreement, dated as of [            ], 2010 among the [Payor] [Payee], [OMNOVA Solutions Inc. (the “Company”)] and certain of [its]
subsidiaries from time to time party thereto, the lenders from time to time party thereto (the “Lenders”), and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”) (as amended, restated,
modified and/or supplemented from 
  

 

	1	EACH PROMISSORY NOTE EVIDENCING AN INTERCOMPANY LOAN SHALL HAVE INCLUDED ON ITS FACE THIS BRACKETED LEGEND AND SHALL HAVE “ANNEX A TO NOTE” ATTACHED THERETO
AND MADE A PART THEREOF TO THE EXTENT SUCH SUBORDINATION IS REQUIRED BY THE ABL CREDIT AGREEMENT. 

 
time to time, the “ABL Credit Agreement”) and (ii) the Term Loan Credit Agreement, dated as of May 22, 2007, as amended as of October 21, 2010 by Amendment
No. 1 and as amended and restated as of [            ], 2010, among the [Payor] [Payee] [Company], the lenders from time to time party thereto, and DBTCA, as administrative agent (as
further amended, restated, modified and/or supplemented from time to time, the “Term Loan Credit Agreement” and, together with the ABL Credit Agreement, the “Credit Agreements”) and is subject to the terms of each
such Credit Agreement, and shall be pledged by the Payee pursuant to each Pledge Agreement (as defined in the Credit Agreement). [The Payor hereby acknowledges and agrees that the Pledgee (as defined in each Pledge Agreement), may, pursuant to the
respective Pledge Agreement, as in effect from time to time, exercise all rights provided therein with respect to this
Note].2 

The Payee is hereby authorized (but not required) to record all loans and advances made by it to the Payor (all of which shall be
evidenced by this Note), and all repayments or prepayments thereof, in its books and records, such books and records constituting prima facie evidence of the accuracy of the information contained therein. 

All payments under this Note shall be made without offset, counterclaim or deduction of any kind. 

The Payor hereby waives presentment, demand, protest or notice of any kind in connection with this Note. 

 
  

	2	INSERT IN EACH INTERCOMPANY NOTE UNDER WHICH THE PAYEE IS A CREDIT PARTY (AS DEFINED IN THE CREDIT AGREEMENT). 

  
 -2-

 THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF
THE STATE OF NEW YORK. 
 [NAME OF PAYOR] 
  

					
	By:	 	  
	 	
		 	Name:	 	
		 	Title:	 	
	
	Pay to the order of: ________________________________
		
	  
	 	
		
	  
 [NAME OF PAYEE]
	 	
			
	By:	 	  
	 	
		 	Name:	 	
		 	Title:	 	

  
 -3-

 ANNEX A3 
 Section 1.01.  Subordination of Liabilities. [NAME OF PAYOR] (the “Payor”), for itself, its successors and assigns, covenants and agrees, and each holder of the
promissory note to which this Annex A is attached (the “Note”) by its acceptance thereof likewise covenants and agrees, that the payment of the principal of, and interest on, and all other amounts owing in respect of, the Note (the
“Subordinated Indebtedness”) is hereby expressly subordinated, to the extent and in the manner hereinafter set forth, to the prior payment in full in cash of all Senior Indebtedness (as defined in Section 1.07 of this Annex A).
The provisions of this Annex A shall constitute a continuing offer to all persons or other entities who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit of
the holders of Senior Indebtedness, and such holders are hereby made obligees hereunder the same as if their names were written herein as such, and they and/or each of them may proceed to enforce such provisions. 

Section 1.02.  The Payor Not to Make Payments with Respect to Subordinated Indebtedness in Certain Circumstances.
(a) Upon the maturity of any Senior Indebtedness (including, without limitation, interest thereon or fees or any other amounts owing in respect thereof), whether at stated maturity, by acceleration or otherwise, all Obligations (as defined in
Section 1.07 of this Annex A) due and owing in respect thereof shall first be paid in full in cash before any payment of any kind or character (whether in cash, property, securities or otherwise) is made on account of the Subordinated
Indebtedness and neither the Payor nor any person or other entity on its behalf may make any payment of Subordinated Indebtedness, or acquire any Subordinated Indebtedness for cash, property or securities until all Senior Indebtedness has been paid
in full in cash if any Default or Event of Default (each as defined below) is then in existence or would result therefrom. Each holder of the Note hereby agrees that, so long as any Default or Event of Default in respect of any Senior Indebtedness
exists, it will not ask, demand, sue for, or otherwise take, accept or receive, any amounts owing in respect of the Note. As used herein, the terms “Default” and “Event of Default” shall mean any Default or Event of
Default (or any similar term), respectively, under and as defined in, the relevant documentation governing any Senior Indebtedness and in any event shall include any payment default with respect to any Senior Indebtedness. 

(b)     In the event that, notwithstanding the provisions of the preceding subsection (a) of this
Section 1.02, any payment shall be made on account of the Subordinated Indebtedness at a time when payment is not permitted by the terms of the Note or by said subsection (a), such payment shall be held by the holder of the Note, in trust for
the benefit of, and shall be paid forthwith over and delivered to, the holders of Senior Indebtedness or their representative or representatives under the agreements pursuant to which the Senior Indebtedness may have been issued, as their respective

  
  

	3	Annex A to be attached only if the Intercompany Note evidences an Intercompany Loan that requires subordination language per the terms of the ABL Credit Agreement.

  
 -4-

 
interests may appear, for application pro rata to the payment of all Senior Indebtedness (after giving effect to the relative priorities of such Senior Indebtedness pursuant to the terms thereof
or otherwise) remaining unpaid to the extent necessary to pay all Senior Indebtedness in full in cash in accordance with the terms of such Senior Indebtedness, after giving effect to any concurrent payment or distribution to or for the holders of
Senior Indebtedness. Without in any way modifying the provisions of this Annex A or affecting the subordination effected hereby if such notice is not given, the Payor shall give the holder of the Note prompt written notice of any maturity of Senior
Indebtedness after which such Senior Indebtedness remains unsatisfied. 
 Section 1.03.  Subordination to Prior
Payment of All Senior Indebtedness on Dissolution, Liquidation or Reorganization of the Payor. (a) Upon any distribution of assets of the Payor upon any total or partial dissolution, winding up, liquidation or reorganization of the Payor
(whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors, marshalling of assets or otherwise and whether voluntary or involuntary): 

(i)     the holders of all Senior Indebtedness shall first be entitled to receive payment in full in
cash of all Senior Indebtedness (including, without limitation, post-petition interest at the rate provided in the documentation with respect to the Senior Indebtedness, whether or not such post-petition interest is an allowed claim against the
debtor in any bankruptcy or similar proceeding) before the holder of the Note is entitled to receive any payment of any kind or character on account of the Subordinated Indebtedness; 

(ii)     any payment or distribution of assets of the Payor of any kind or character, whether in
cash, property or securities, to which the holder of the Note would be entitled except for the provisions of this Annex A, shall be paid by the liquidating trustee or agent or other person or entity making such payment or distribution, whether a
trustee in bankruptcy, a receiver or liquidating trustee or other trustee or agent, directly to the holders of Senior Indebtedness or their representative or representatives under the agreements pursuant to which the Senior Indebtedness may have
been issued, to the extent necessary to make payment in full in cash of all Senior Indebtedness remaining unpaid (after giving effect to the relative priorities of such Senior Indebtedness pursuant to the terms thereof or otherwise), after giving
effect to any concurrent payment or distribution to the holders of such Senior Indebtedness; and 

(iii)     in the event that, notwithstanding the foregoing provisions of this Section 1.03, any
payment or distribution of assets of the Payor of any kind or character, whether in cash, property or securities, shall be received by the holder of the Note on account of Subordinated Indebtedness before all Senior Indebtedness is paid in full in
cash, such payment or distribution shall be received and held in trust for and shall forthwith be paid over to the holders of the Senior Indebtedness (after giving effect to the relative priorities of such Senior Indebtedness pursuant to the terms
thereof or otherwise) remaining unpaid or their representative or representatives under the agreements pursuant to which the 

  
 -5-

 
Senior Indebtedness may have been issued, for application to the payment of such Senior Indebtedness until all such Senior Indebtedness shall have been paid in full in cash, after giving effect
to any concurrent payment or distribution to the holders of such Senior Indebtedness. 
 (b)     To the
extent any payment of Senior Indebtedness (whether by or on behalf of any Payor, as proceeds of security or enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential, set aside or required to be paid to any
receiver, trustee in bankruptcy, liquidating trustee, agent or other similar person under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then, if such payment is recovered by, or paid over to, such receiver, trustee
in bankruptcy, liquidating trustee, agent or other similar person, the Senior Indebtedness or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment has not occurred. 

(c)     If the holder of the Note does not file a proper claim or proof of debt in the form required in any
proceeding or other action referred to in the introduction paragraph of this Section 1.03 prior to 30 days before the expiration of the time to file such claim or claims, then any of the holders of the Senior Indebtedness or their
representative is hereby authorized to file an appropriate claim for and on behalf of the holder of the Note. 

(d)     Without in any way modifying the provisions of this Annex A or affecting the subordination effected hereby
if such notice is not given, the Payor shall give prompt written notice to the holder of the Note of any dissolution, winding up, liquidation or reorganization of the Payor (whether in bankruptcy, insolvency or receivership proceedings or upon
assignment for the benefit of creditors or otherwise). 
 Section 1.04.  Subrogation. Subject to the prior
payment in full in cash of all Senior Indebtedness, the holder of the Note shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of assets of the Payor applicable to the Senior Indebtedness
until all amounts owing on the Note shall be paid in full, and for the purpose of such subrogation no payments or distributions to the holders of the Senior Indebtedness by or on behalf of the Payor or by or on behalf of the holder of the Note by
virtue of this Annex A which otherwise would have been made to the holder of the Note shall, as between the Payor, its creditors other than the holders of Senior Indebtedness, and the holder of the Note, be deemed to be payment by the Payor to or on
account of the Senior Indebtedness, it being understood that the provisions of this Annex A are and are intended solely for the purpose of defining the relative rights of the holder of the Note, on the one hand, and the holders of the Senior
Indebtedness, on the other hand. 
 Section 1.05.  Obligation of the Payor Unconditional. Nothing contained in
this Annex A or in the Note is intended to or shall impair, as between the Payor and the holder of the Note, the obligation of the Payor, which is absolute and unconditional, to pay to the holder of the Note the principal of and interest on the Note
as and when the same shall become due and payable in accordance with their terms, or is intended to or 

  
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shall affect the relative rights of the holder of the Note and creditors of the Payor, other than the holders of the Senior Indebtedness, nor shall anything herein or therein, except as expressly
provided herein, prevent the holder of the Note from exercising all remedies otherwise permitted by applicable law, subject to the rights, if any, under this Annex A of the holders of Senior Indebtedness in respect of cash, property, or securities
of the Payor received upon the exercise of any such remedy. Upon any distribution of assets of the Payor referred to in this Annex A, the holder of the Note shall be entitled to rely upon any order or decree made by any court of competent
jurisdiction in which such dissolution, winding up, liquidation or reorganization proceedings are pending, or a certificate of the liquidating trustee or agent or other Person making any distribution to the holder of the Note, for the purpose of
ascertaining the Persons entitled to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Payor, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other
facts pertinent thereto or to this Annex A. 
 Section 1.06.  Subordination Rights Not Impaired by Acts or
Omissions of the Payor or Holders of Senior Indebtedness.  No right of any present or future holders of any Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any
act or failure to act on the part of the Payor or by any act or failure to act by any such holder, or by any noncompliance by the Payor with the terms and provisions of the Note, regardless of any knowledge thereof which any such holder may have or
be otherwise charged with. The holders of the Senior Indebtedness may, without in any way affecting the obligations of the holder of the Note with respect thereto, at any time or from time to time and in their absolute discretion, change the manner,
place or terms of payment of, change or extend the time of payment of, or renew, or alter or increase the amount of, any Senior Indebtedness, or amend, modify or supplement any agreement or instrument governing or evidencing such Senior Indebtedness
or any other document referred to therein, or exercise or refrain from exercising any other of their rights under the Senior Indebtedness including, without limitation, the waiver of default thereunder and the release of any collateral securing such
Senior Indebtedness, all without notice to or assent from the holder of the Note. 
 Section 1.07.  Senior
Indebtedness.  The term “Senior Indebtedness” shall mean all Obligations of the Payor under, or in respect of, (i) the ABL Credit Agreement and each other Loan Document (as defined in the ABL Credit Agreement) to
which the Payor is a party, and any renewal, extension, restatement, refinancing or refunding of any thereof, (ii) Term Loan Credit Agreement and each other Credit Document (as defined in the Term Loan Credit Agreement) to which the Payor is a
party, and any renewal, extension, restatement, refinancing or refunding of any thereof and (iii) each Interest Rate Protection Agreement and Hedging Agreement (as defined in the Credit Agreements or Security Agreement referred to in the Credit
Agreements), in each case including any guaranty thereof under the Subsidiary Guarantee or Guaranty Agreement (as defined in the Credit Agreements) of the Payor. As used herein, the term “Obligation” shall mean all principal,
interest, premium, reimbursement obligations, penalties, fees, expenses, indemnities and other liabilities and obligations (including, without limitation, any guaranties of the foregoing liabilities and obligations) payable under the documentation
governing any indebtedness (including, without limitation, any interest accruing after the 

  
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commencement of any bankruptcy, insolvency, receivership or similar proceeding at the rate provided in the documentation with respect thereto, whether or not such interest is an allowed claim
against the debtor in any such proceeding). 

Section 1.08.  Miscellaneous.  If, at any time, all or part of any payment with respect
to Senior Indebtedness theretofore made by the Payor or any other Person or entity is rescinded or must otherwise be returned by the holders of Senior Indebtedness for any reason whatsoever (including, without limitation, the insolvency, bankruptcy
or reorganization of the Payor or such other Person or entity), the subordination provisions set forth herein shall continue to be effective or be reinstated, as the case may be, all as though such payment had not been made. 

  
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