Document:

exhibit41formofwarrantag

    1            Exhibit 4.1   CANCER GENETICS, INC.   WARRANT TO PURCHASE COMMON STOCK             Warrant No.: [•]      Number of Warrants: [•]   Date of Issuance: November [•], 2015 (“Issuance Date”)   Expiration Date: November [•], 2020 (“Expiration Date”)   Cancer Genetics, Inc., a Delaware corporation (the “Company”), certifies that, for good and valuable consideration,   the receipt and sufficiency of which are acknowledged, [•] , the registered holder hereof or its permitted assigns (the   “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company, at the Exercise Price (as   defined below) then in effect, upon surrender of this Warrant to Purchase Common Stock (including any Warrants to   Purchase Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”), at any time or times   on or after the date hereof (the “Exercisability Date”), but not after 5:30 p.m., New York Time, on the Expiration   Date, [•] fully paid and nonassessable shares of Common Stock (as defined below) (the “Warrant Shares”). Except   as otherwise defined herein, capitalized terms in this Warrant shall have the meanings set forth in Section 16.   1. EXERCISE OF WARRANT.   (a) Mechanics of Exercise. Subject to the terms and conditions hereof (including, without   limitation, the limitations set forth in Section 1(d)), this Warrant may be exercised by the Holder on   any day on or after the Exercisability Date, in whole or in part (but not as to fractional shares), by   (i) delivery of a written notice, in the form attached hereto as Exhibit A (the “Exercise Notice”), of   the Holder’s election to exercise this Warrant and (ii) if both (A) the Holder is not electing a   Cashless Exercise (as defined below) pursuant to Section 1(c) of this Warrant and (B) a registration   statement registering the issuance of the Warrant Shares under the Securities Act of 1933, as   amended (the “Securities Act”), is effective and available for the issuance of the Warrant Shares,   payment to the Company of an amount equal to the applicable Exercise Price multiplied by the   number of Warrant Shares as to which this Warrant is being exercised (the “Aggregate Exercise   Price”) in cash or wire transfer of immediately available funds (a “Cash Exercise”). The Holder   shall not be required to surrender this Warrant in order to effect an exercise   hereunder, provided that in the event of an exercise of this Warrant for all Warrant Shares then   issuable hereunder, the Holder shall surrender this Warrant to the Company by the third (3rd)   Trading Day following the Share Delivery Date (as defined below). On or before the first (1st)   Trading Day following the date on which the Company has received the Exercise Notice, the   Company shall transmit by email or facsimile an acknowledgment of confirmation of receipt of the   Exercise Notice to the Holder and Continental Stock Transfer & Trust Company, the Company’s   transfer agent for the Common Stock and Warrants (the “Transfer Agent”). On or before the later   of (i) the third (3rd) Trading Day following the date on which the Company has received the   Exercise Notice duly completed and executed by the Holder, so long as the Aggregate Exercise   Price, in the case of a Cash Exercise, is delivered to the Company within two (2) Trading Days   following delivery of the Exercise Notice and (ii) if the Holder has not delivered the Aggregate   Exercise Price to the Company, in the case of a Cash Exercise, within two (2) Trading Days   following delivery of the Exercise Notice, the first (1st) Trading Day following the date on which   the Holder delivers such Aggregate Exercise Price (such later date, the “Share Delivery Date”),   the Company shall, upon the request of the Holder, credit such aggregate number of shares of   Common Stock to which the Holder is entitled pursuant to such exercise to the Holder’s or its   designee’s balance account with The Depository Trust Company (“DTC”) through its Deposit   Withdrawal At Custodian system, or if the Transfer Agent is not participating in the Fast   Automated Securities Transfer Program (the “FAST Program”) or if the Warrant Shares are   required by law to bear a legend regarding restriction on transferability, issue and dispatch by   overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the   Company’s share register in the name of the Holder or its designee, for the number of shares of     

 

    2        Common Stock to which the Holder is entitled pursuant to such exercise.  The Company shall   deliver any objection to the Exercise Notice on or before the Trading Day following the date on   which the Exercise Notice has been delivered to the Company.  Upon delivery of the Exercise   Notice, so long as the Aggregate Exercise Price, in the case of a Cash Exercise, is delivered to the   Company within two (2) Trading Days following delivery of the Exercise Notice, the Holder shall   be deemed for all corporate purposes to have become the holder of record of the Warrant Shares   with respect to which this Warrant has been exercised, irrespective of the date such Warrant Shares   are credited to the Holder’s DTC account or the date of delivery of the certificates evidencing such   Warrant Shares, as the case may be. If this Warrant is submitted in connection with any exercise   pursuant to this Section 1(a) and the number of Warrant Shares represented by this Warrant   submitted for exercise is greater than the number of Warrant Shares being acquired upon an   exercise, then the Company shall as soon as practicable and in no event later than three (3) Trading   Days after any exercise and at the Company’s own expense, issue a new Warrant (in accordance   with Section 7(e)) representing the right to purchase the number of Warrant Shares purchasable   immediately prior to such exercise under this Warrant, less the number of Warrant Shares with   respect to which this Warrant is exercised. The Company shall pay any and all taxes that may be   payable with respect to the issuance and delivery of Warrant Shares upon exercise of this   Warrant; provided, however, that the Company shall not be required to pay any tax which may be   payable based on the income of the Holder or in respect of any transfer involved in the registration   of any certificates for Warrant Shares or Warrants in a name other than that of the Holder or an   affiliate thereof. The Holder shall be responsible for all other tax liability that may arise as a result   of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.   In addition to any other rights available to the Holder, if the Company fails to cause the   Transfer Agent to transmit to the Holder a certificate or the certificates representing the Warrant   Shares or to credit the Holder’s balance account with DTC for such number of Warrant Shares to   which the Holder is entitled upon the Holder’s exercise pursuant to an exercise on or before the   Share Delivery Date, and if after such date the Holder purchases (in an open market transaction or   otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver   in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving   upon such exercise (a “Buy-In”), then the Company shall within three (3) Trading Days after the   Holder’s request and in the Holder’s discretion, either (i) pay cash to the Holder in an amount equal   to the Holder’s total purchase price (including brokerage commissions, if any) for the shares of   Common Stock so purchased (the “Buy-In Price”), at which point the Company’s obligation to   deliver such certificate (and to issue such Warrant Shares or credit such Holder’s balance account   with DTC) shall terminate, or (ii) promptly honor its obligation to deliver to the Holder a certificate   or certificates representing such Warrant Shares or credit such Holder’s balance account with DTC   and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the   product of (A) such number of shares of Common Stock, times (B) the Weighted Average Price of   a share of Common Stock on the date of exercise.  While this Warrant remains outstanding, the   Company shall maintain a transfer agent that participates in the DTC’s FAST Program.   (b) Exercise Price. For purposes of this Warrant, “Exercise Price” means $5.00 per share of   Common Stock, subject to adjustment as provided herein.   (c) Cashless Exercise. Notwithstanding anything contained herein to the contrary, if a   registration statement registering the issuance of the Warrant Shares under the Securities Act is not   effective or available for the issuance of the Warrant Shares, the Holder may, in its sole discretion,   exercise this Warrant in whole or in part and, in lieu of making the cash payment otherwise   contemplated to be made to the Company upon such exercise in payment of the Aggregate Exercise   Price, elect instead to receive upon such exercise the “Net Number” of shares of Common Stock   determined according to the following formula (a “Cashless Exercise”):     

 

    3        The Company hereby agrees that the Warrant Shares issued in a Cashless Exercise shall be   deemed to have been acquired by the Holder pursuant to Rule 3(a)(9) and the Warrant Shares shall take   on the registered characteristics of the Warrants being exercised.   (d) Limitations on Exercises. (1) The Company shall not effect the exercise of this Warrant, and the   Holder shall not have the right to exercise this Warrant, to the extent that after giving effect to such   exercise, such Holder (together with such Holder’s affiliates and any other Persons acting as a   group together ("Attribution Parties")) would beneficially own in excess of 4.99% (the   “Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving   effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of   Common Stock beneficially owned by such Person and its affiliates and Attribution Parties shall   include the number of shares of Common Stock issuable upon exercise of this Warrant with respect   to which the determination of such sentence is being made, but shall exclude shares of Common   Stock which would be issuable upon (i) exercise of the remaining, unexercised portion of this   Warrant beneficially owned by such Person and its affiliates and Attribution Parties   and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of   the Company beneficially owned by such Person and its affiliates and Attribution Parties   (including, without limitation, any convertible notes or convertible preferred stock or warrants)   subject to a limitation on conversion or exercise analogous to the limitation contained herein.   Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership   shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as   amended (the “Exchange Act”), it being acknowledged that the Company is not representing to the   Holder that such calculation is in compliance with Section 13(d) of the Exchange Act, and the   Holder is solely responsible for any schedules required to be filed in accordance therewith. For   purposes of this Warrant, in determining the number of outstanding shares of Common Stock, the   Holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the   Company’s most recent Form 10-K, Proxy Statement, Form 10-Q, Current Report on Form 8-K or   other public filing with the Securities and Exchange Commission, as the case may be, (2) a more   recent public announcement by the Company or (3) any other notice by the Company or the   Transfer Agent setting forth the number of shares of Common Stock outstanding. For any reason at   any time, upon the written or oral request of the Holder, where such request indicates that it is   being made pursuant to this Warrant, the Company shall within one (1) Trading Day confirm orally   and in writing to the Holder the number of shares of Common Stock then outstanding. In any case,   the number of outstanding shares of Common Stock shall be determined after giving effect to the   conversion or exercise of securities of the Company, including the Warrants, by the Holder and its   affiliates and Attribution Parties since the date as of which such number of outstanding shares of   Common Stock was reported. By written notice to the Company, the Holder may increase or   decrease the Maximum Percentage to any other percentage not in excess of 9.99% specified in such   notice; provided, that (i) any such increase will not be effective until the 61st day after such notice   is delivered to the Company and (ii) any such increase or decrease will apply only to the Holder   and not to any other holder of Warrants.  The provisions of this paragraph shall be construed and   implemented in a manner otherwise than in strict conformity with the terms of this Section 1(d) to   correct this paragraph (or any portion hereof) which may be defective or inconsistent with the        Net Number = (A x B) - (A x C)   B      For purposes of the foregoing formula:         A= the total number of shares with respect to which this Warrant is then being exercised.      B= the Weighted Average Price of the shares of Common Stock (as reported by Bloomberg) on the date   immediately preceding the date of the Exercise Notice.      C= the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.     

 

    4        intended beneficial ownership limitation herein contained or to make changes or supplement   necessary or desirable to properly give effect to such limitation.   (e) No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares   shall be issued upon the exercise of this Warrant. As to any fraction of a share that the Holder   would otherwise be entitled to purchase upon such exercise, the Company shall pay a cash   adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the   Exercise Price.   2. ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise Price   and the number of Warrant Shares shall be adjusted from time to time as follows:   (a) Adjustment upon Subdivision or Combination of Shares of Common Stock. If the   Company at any time on or after the Issuance Date subdivides (by any stock split, stock dividend,   recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a   greater number of shares, the Exercise Price in effect immediately prior to such subdivision will be   proportionately reduced and the number of Warrant Shares will be proportionately increased. If the   Company at any time on or after the Issuance Date combines (by combination, reverse stock split   or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller   number of shares, the Exercise Price in effect immediately prior to such combination will be   proportionately increased and the number of Warrant Shares will be proportionately decreased.   Any adjustment under this Section 2(a) shall become effective at the close of business on the date   the subdivision or combination becomes effective.   (b) Other Events. If any event occurs of the type contemplated by the provisions of   Section 2(a) but not expressly provided for by such provisions (including, without limitation, the   granting of stock appreciation rights, phantom stock rights or other rights with equity features to   the holders of the Company’s equity securities), then the Company’s Board of Directors will make   an appropriate adjustment in the Exercise Price and the number of Warrant Shares so as to protect   the rights of the Holder; provided, that no such adjustment pursuant to this Section 2(b) will   increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined   pursuant to this Section 2.   (c) Par Value. Notwithstanding anything to the contrary in this Warrant, in no event shall the   Exercise Price be reduced below the par value of the Company’s Common Stock.   3. RIGHTS UPON DISTRIBUTION OF ASSETS. If the Company shall declare or make any dividend or   other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of   return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities,   property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement   or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such   case:   (a) any Exercise Price in effect immediately prior to the close of business on the record date   fixed for the determination of holders of shares of Common Stock entitled to receive the   Distribution shall be reduced, effective as of the close of business on such record date, to a price   determined by multiplying such Exercise Price by a fraction of which (i) the numerator shall be the   Weighted Average Price of the shares of Common Stock on the Trading Day immediately   preceding such record date minus the value of the Distribution (as determined in good faith by the   Company’s Board of Directors) applicable to one share of Common Stock, and (ii) the denominator   shall be the Weighted Average Price of the shares of Common Stock on the Trading Day   immediately preceding such record date; and   (b) the number of Warrant Shares shall be increased to a number of shares equal to the   number of shares of Common Stock obtainable immediately prior to the close of business on the   record date fixed for the determination of holders of shares of Common Stock entitled to receive   the Distribution multiplied by the reciprocal of the fraction set forth in the immediately preceding   paragraph (a); provided, that in the event that the Distribution is of shares of Common Stock or   common stock of a company whose common shares are traded on a national securities exchange or   a national automated quotation system (“Other Shares of Common Stock”), then the Holder may     

 

    5        elect to receive a warrant to purchase Other Shares of Common Stock in lieu of an increase in the   number of Warrant Shares, the terms of which shall be identical to those of this Warrant, except   that such warrant shall be exercisable for the number of shares of Other Shares of Common Stock   that would have been payable to the Holder pursuant to the Distribution had the Holder exercised   this Warrant immediately prior to such record date and with an aggregate exercise price equal to   the product of the amount by which the exercise price of this Warrant was decreased with respect to   the Distribution pursuant to the terms of the immediately preceding paragraph (a) and the number   of Warrant Shares calculated in accordance with the first part of this paragraph (b).       4. PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS.   (a) Purchase Rights. In addition to any adjustments pursuant to Section 2 above, if at any   time prior to the Expiration Date the Company grants, issues or sells any Options, Convertible   Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the   record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder   will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate   Purchase Rights which the Holder could have acquired if the Holder had held the number of shares   of Common Stock acquirable upon complete exercise of this Warrant (without regard to any   limitations on the exercise of this Warrant) immediately before the date on which a record is taken   for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of   which the record holders of shares of Common Stock are to be determined for the grant, issue or   sale of such Purchase Rights (provided, however, that to the extent that the Holder’s right to   participate in any such Purchase Right would result in the Holder exceeding the Maximum   Percentage, then the Holder shall not be entitled to participate in such Purchase Right to such extent   (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to   such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until   such time, if ever, as its right thereto would not result in the Holder exceeding the Maximum   Percentage, at which time the Holder shall be granted such right to the same extent as if there had   been no such limitation).   (b) Fundamental Transactions. Upon the occurrence of any Fundamental Transaction, the   Successor Entity shall succeed to, and be substituted for (so that from and after the date of such   Fundamental Transaction, the provisions of this Warrant referring to the “Company” shall refer   instead to the Successor Entity), and may exercise every right and power of the Company and shall   assume all of the obligations of the Company under this Warrant with the same effect as if such   Successor Entity had been named as the Company herein. Upon consummation of the Fundamental   Transaction, the Successor Entity shall deliver to the Holder confirmation that there shall be issued   upon exercise of this Warrant at any time after the consummation of the Fundamental Transaction,   in lieu of the shares of the Common Stock (or other securities, cash, assets or other property   purchasable upon the exercise of the Warrant prior to such Fundamental Transaction), such shares   of stock, securities, cash, assets or any other property whatsoever (including warrants or other   purchase or subscription rights), if any, that the Holder would have been entitled to receive upon   the happening of such Fundamental Transaction had this Warrant been exercised immediately prior   to such Fundamental Transaction, as adjusted in accordance with the provisions of this Warrant. In   addition to and not in substitution for any other rights hereunder, prior to the consummation of any   Fundamental Transaction pursuant to which holders of shares of Common Stock are entitled to   receive securities or other assets with respect to or in exchange for shares of Common Stock (a   “Corporate Event”), the Company shall make appropriate provision to ensure that the Holder will   thereafter have the right to receive upon exercise of this Warrant within 90 days after the   consummation of the Fundamental Transaction but, in any event, prior to the Expiration Date, in   lieu of the shares of the Common Stock (or other securities, cash, assets or other property)   purchasable upon the exercise of the Warrant prior to such Fundamental Transaction, such shares   of stock, securities, cash, assets or any other property whatsoever (including warrants or other   purchase or subscription rights) which the Holder would have been entitled to receive upon the   happening of such Fundamental Transaction had the Warrant been exercised immediately prior to   such Fundamental Transaction.     

 

    6        5. RESERVATION OF WARRANT SHARES. The Company covenants that it will at all times reserve and   keep available out of the aggregate of its authorized but unissued and otherwise unreserved Common Stock, solely   for the purpose of enabling it to issue Warrant Shares upon exercise of this Warrant as herein provided, the number   of shares of Common Stock which are then issuable and deliverable upon the exercise of this entire Warrant, free   from preemptive or any other contingent purchase rights of Persons other than the Holder (taking into account the   adjustments and restrictions in Section 2). Such reservation shall comply with the provisions of Section 1. The   Company covenants that all shares of Common Stock so issuable and deliverable shall, upon issuance and the   payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly authorized, issued   and fully paid and nonassessable. The Company will take all such actions as may be reasonably necessary to assure   that such shares of Common Stock may be issued as provided herein without violation of any applicable law or   regulation, or of any requirements of any securities exchange or automated quotation system upon which the   Common Stock may be listed.   6. WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided   herein, the Holder, solely in such Person’s capacity as a holder of this Warrant, shall not be entitled to vote or   receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything   contained in this Warrant be construed to confer upon the Holder, solely in such Person’s capacity as the Holder of   this Warrant, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any   corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger,   conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to   the issuance to the Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise   of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the   Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company,   whether such liabilities are asserted by the Company or by creditors of the Company.   7. REGISTRATION AND REISSUANCE OF WARRANTS.   (a) Registration of Warrant. The Company or its Transfer Agent shall register this Warrant,   upon the records to be maintained by the Company or its Transfer Agent for that purpose (the   “Warrant Register”), in the name of the record Holder hereof from time to time. The   Company may deem and treat the registered Holder of this Warrant as the absolute owner   hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all   other purposes, absent actual notice to the contrary. The Company or its Transfer Agent   shall also register any transfer, exchange, reissuance or cancellation of any portion of this   Warrant in the Warrant Register.    (b) Transfer of Warrant. This Warrant may be offered for sale, sold, transferred or assigned   without the consent of the Company, except as may otherwise be required by applicable securities   laws. Subject to applicable securities laws, if this Warrant is to be transferred, the Holder shall   surrender this Warrant to the Company or its Transfer Agent, as directed by the Company, together   with all applicable transfer taxes, whereupon the Company will, or will cause its Transfer Agent to,   forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with   Section 7(e)), registered as the Holder may request, representing the right to purchase the number   of Warrant Shares being transferred by the Holder and, if less than the total number of Warrant   Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with   Section 7(e)) to the Holder representing the right to purchase the number of Warrant Shares not   being transferred. The acceptance of the new Warrant by the transferee thereof shall be deemed the   acceptance by such transferee of all of the rights and obligations in respect of the new Warrant that   the Holder has in respect of this Warrant.   (c) Lost, Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably   satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant, and, in the   case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company   in customary form or the provision of reasonable security by the Holder to the Company and, in the   case of mutilation, upon surrender and cancellation of this Warrant, the Company or its Transfer   Agent, as directed by the Company, shall execute and deliver to the Holder a new Warrant (in     

 

    7        accordance with Section 7(e)) representing the right to purchase the Warrant Shares then   underlying this Warrant.   (d) Exchangeable for Multiple Warrants. This Warrant is exchangeable, upon the surrender   hereof by the Holder at the principal office of the Company or its Transfer Agent, as directed by the   Company, together with all applicable transfer taxes, for a new Warrant or Warrants (in accordance   with Section 7(e)) representing in the aggregate the right to purchase the number of Warrant Shares   then underlying this Warrant, and each such new Warrant will represent the right to purchase such   portion of such Warrant Shares as is designated by the Holder at the time of such   surrender; provided, however, that the Company or its Transfer Agent, as directed by the Company,   shall not be required to issue Warrants for fractional shares of Common Stock hereunder.   (e) Issuance of New Warrants. Whenever the Company or its Transfer Agent, as directed by   the Company, is required to issue a new Warrant pursuant to the terms of this Warrant, such new   Warrant shall (i) be of like tenor with this Warrant, (ii) represent, as indicated on the face of such   new Warrant, the right to purchase the Warrant Shares then underlying this Warrant (or in the case   of a new Warrant being issued pursuant to Section 7(b) or Section 7(c), the Warrant Shares   designated by the Holder which, when added to the number of shares of Common Stock underlying   the other new Warrants issued in connection with such issuance, does not exceed the number of   Warrant Shares then underlying this Warrant), (iii) have an issuance date, as indicated on the face   of such new Warrant which is the same as the Issuance Date and (iv) have the same rights and   conditions as this Warrant.   8. NOTICES. Whenever notice is required to be given under this Warrant, unless otherwise provided herein,   such notice shall be given in accordance with the information set forth in the Warrant Register. The Company shall   give written notice to the Holder (i) reasonably promptly following any adjustment of the Exercise Price, setting   forth in reasonable detail, and certifying, the calculation of such adjustment and (ii) at least ten (10) days prior to the   date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon   the shares of Common Stock, (B) with respect to any grants, issuances or sales of any Options, Convertible   Securities or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class   of shares of Common Stock or (C) for determining rights to vote with respect to any Fundamental Transaction,   dissolution or liquidation; provided, that in each case, such information shall be made known to the public prior to or   in conjunction with such notice being provided to the Holder.   9. NONCIRCUMVENTION.  The Company hereby covenants and agrees that the Company will not, by   amendment of its Certificate of Incorporation, Bylaws or through any reorganization, transfer of assets,   consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities or any other voluntary action,   avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in   good faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of   the Holder.  Without limiting the generality of the foregoing, the Company (i) shall not increase the par value of any   shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (ii)   shall use all reasonable efforts to take all such actions as may be necessary or appropriate in order that the Company   may validly and legally issue fully paid and nonassessable shares of Common Stock upon the exercise of this   Warrant and (iii) shall, so long as any of the Warrants are outstanding, take all action necessary to reserve and keep   available out of its authorized and unissued shares of Common Stock, solely for the purpose of effecting the exercise   of the Warrants, the number of shares of Common Stock as shall from time to time be necessary to effect the   exercise of the Warrants then outstanding (without regard to any limitations on exercise).   10. AMENDMENT AND WAIVER. Except as otherwise provided herein, the provisions of this Warrant   may be amended and the Company may take any action herein prohibited, or omit to perform any act herein   required to be performed by it, only if the Company has obtained the written consent of the Holder.        11. LIMITATION OF LIABILITY. No provision hereof, in the absence of any affirmative action by Holder   to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of Holder,   shall give rise to any liability of Holder for the purchase price of any Warrant Shares or as a stockholder of the   Company, whether such liability is asserted by the Company or by creditors of the Company.     

 

    8        12. GOVERNING LAW. This Warrant shall be governed by and construed and enforced in accordance with,   and all questions concerning the construction, validity, interpretation and performance of this Warrant shall be   governed by, the internal laws of the State of New York, without giving effect to any choice of law or conflict of   law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application   of the laws of any jurisdictions other than the State of New York.   13. CONSTRUCTION; HEADINGS. This Warrant shall be deemed to be jointly drafted by the Company   and the Holder and shall not be construed against any person as the drafter hereof. The headings of this Warrant are   for convenience of reference and shall not form part of, or affect the interpretation of, this Warrant.   14. DISPUTE RESOLUTION. In the case of a dispute as to the determination of the Exercise Price or the   arithmetic calculation of the Warrant Shares, the Company shall submit the disputed determinations or arithmetic   calculations via email or facsimile within two (2) Trading Days of receipt of the Exercise Notice giving rise to such   dispute, as the case may be, to the Holder. If the Holder and the Company are unable to agree upon such   determination or calculation of the Exercise Price or the Warrant Shares within five (5) Trading Days of such   disputed determination or arithmetic calculation being submitted to the Holder, then the Company shall, within   two (2) Trading Days submit via email or facsimile (a) the disputed determination of the Exercise Price to an   independent, reputable investment bank selected by the Company and approved by the Holder or (b) the disputed   arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company shall   cause the investment bank or the accountant, as the case may be, to perform the determinations or calculations and   notify the Company and the Holder of the results no later than ten (10) Trading Days from the time it receives the   disputed determinations or calculations. Such investment bank’s or accountant’s determination or calculation, as the   case may be, shall be binding upon all parties absent demonstrable error. The expenses of the investment bank and   accountant will be borne by the Company unless the investment bank or accountant determines that the   determination of the Exercise Price or the arithmetic calculation of the Warrant Shares by the Holder was incorrect,   in which case the expenses of the investment bank and accountant will be borne by the Holder.   15. REMEDIES, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies   provided in this Warrant shall be cumulative and in addition to all other remedies available under this Warrant, at   law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall   limit the right of the Holder to pursue actual damages for any failure by the Company to comply with the terms of   this Warrant. The Company acknowledges that a breach by it of its obligations hereunder may cause irreparable   harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore   agrees that, in the event of any such breach or threatened breach, the holder of this Warrant shall be entitled, in   addition to all other available remedies, to seek an injunction restraining any breach. Notwithstanding the foregoing   or anything else herein to the contrary, if the Company is for any reason unable to issue and deliver Warrant Shares   upon exercise of this Warrant as required pursuant to the terms hereof, the Company shall have no obligation to pay   to the Holder any cash or other consideration or otherwise “net cash settle” this Warrant.   16. CERTAIN DEFINITIONS. For purposes of this Warrant, the following terms shall have the following   meanings:   (a) “Bloomberg” means Bloomberg Financial Markets.   (b) “Change of Control” means any Fundamental Transaction other than (i) any   reorganization, recapitalization or reclassification of the Common Stock in which holders of the   Company’s voting power immediately prior to such reorganization, recapitalization or   reclassification continue after such reorganization, recapitalization or reclassification to   hold publicly traded securities and, directly or indirectly, the voting power of the surviving entity or   entities necessary to elect a majority of the members of the board of directors (or their equivalent if   other than a corporation) of such entity or entities, or (ii) pursuant to a migratory merger effected   solely for the purpose of changing the jurisdiction of incorporation of the Company.   (c) “Common Stock” means (i) the Company’s shares of Common Stock, $0.0001 par value   per share, and (ii) any share capital into which such Common Stock shall have been changed or any   share capital resulting from a reclassification of such Common Stock.   (d) “Convertible Securities” means any stock or securities (other than Options) directly or   indirectly convertible into or exercisable or exchangeable for shares of Common Stock.     

 

    9        (e) “Eligible Market” means the Principal Market, The New York Stock Exchange, Inc.,   the NYSE Amex LLC, The Nasdaq Stock Market, or the OTC Bulletin Board®.   (f) “Fundamental Transaction” means that (A) the Company shall, directly or indirectly,   in one or more related transactions, (i) consolidate or merge with or into (whether or not the   Company is the surviving corporation) another Person, or (ii) sell, assign, transfer, convey or   otherwise dispose of all or substantially all of the properties or assets of the Company to another   Person, or (iii) allow another Person providing to make a purchase, tender or exchange offer that is   accepted by the holders of more than 50% of the outstanding shares of Common Stock (not   including any shares of Common Stock held by the Person or Persons making or party to, or   associated or affiliated with the Persons making or party to, such purchase, tender or exchange   offer), or (iv) consummate a stock purchase agreement or other business combination (including,   without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with   another Person whereby such other Person acquires more than 50% of the outstanding shares of   Common Stock (not including any shares of Common Stock held by the other Person or other   Persons making or party to, or associated or affiliated with the other Persons making or party to,   such stock purchase agreement or other business combination), or (v) reorganize, recapitalize or   reclassify the Common Stock or (B) any “person” or “group” (as these terms are used for purposes   of Sections 13(d) and 14(d) of the Exchange Act) is or shall become the “beneficial owner” (as   defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate   ordinary voting power represented by issued and outstanding Common Stock.   (g) “Options” means any rights, warrants or options to subscribe for or purchase shares of   Common Stock or Convertible Securities.   (h) “Parent Entity” of a Person means an entity that, directly or indirectly, controls the   applicable Person and whose common stock or equivalent equity security is quoted or listed on an   Eligible Market, or, if there is more than one such Person or Parent Entity, the Person or Parent   Entity with the largest public market capitalization as of the date of consummation of the   Fundamental Transaction.   (i) “Person” means an individual, a limited liability company, a partnership, a joint venture,   a corporation, a trust, an unincorporated organization, any other entity and a government or any   department or agency thereof.   (j) “Principal Market” means The Nasdaq Capital Market.   (k) “Successor Entity” means the Person (or, if so elected by the Holder, the Parent Entity)   formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected   by the Holder, the Parent Entity) with which such Fundamental Transaction shall have been entered   into.   (l) “Trading Day” means any day on which the Common Stock is traded on the Principal   Market, or, if the Principal Market is not the principal trading market for the Common Stock, then   on the principal securities exchange or securities market on which the Common Stock is then   traded; provided that “Trading Day” shall not include any day on which the Common Stock is   scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common   Stock is suspended from trading during the final hour of trading on such exchange or market (or if   such exchange or market does not designate in advance the closing time of trading on such   exchange or market, then during the hour ending at 4:00:00 p.m., New York Time).   (m) “Weighted Average Price” means, for any security as of any date, the dollar volume-   weighted average price for such security on the Principal Market during the period beginning at   9:30:01 a.m., New York City time, and ending at 4:00:00 p.m., New York City time, as reported by   Bloomberg through its “Volume at Price” function or, if the foregoing does not apply, the dollar   volume-weighted average price of such security in the over-the-counter market on the electronic   bulletin board for such security during the period beginning at 9:30:01 a.m., New York City time,   and ending at 4:00:00 p.m., New York City time, as reported by Bloomberg, or, if no dollar   volume-weighted average price is reported for such security by Bloomberg for such hours, the   average of the highest closing bid price and the lowest closing ask price of any of the market   makers for such security as reported in the “pink sheets” by Pink OTC Markets Inc. If the     

 

    10        Weighted Average Price cannot be calculated for such security on such date on any of the   foregoing bases, the Weighted Average Price of such security on such date shall be the fair market   value as mutually determined by the Company and the Holder. If the Company and the Holder are   unable to agree upon the fair market value of such security, then such dispute shall be resolved   pursuant to Section 14 with the term “Weighted Average Price” being substituted for the term   “Exercise Price.” All such determinations shall be appropriately adjusted for any share dividend,   share split or other similar transaction during such period.   [Signature Page Follows]                                

 

    11        IN WITNESS WHEREOF, the Company has caused this Warrant to Purchase Common Stock to be duly   executed as of the Issuance Date set out above.               CANCER GENETICS, INC.         By:           Name:       Title:                 

 

    12               EXHIBIT A   EXERCISE NOTICE   TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS   WARRANT TO PURCHASE COMMON STOCK   CANCER GENETICS, INC.   The undersigned holder hereby exercises the right to purchase [•] of the shares of Common Stock (“Warrant   Shares”) of Cancer Genetics, Inc., a Delaware corporation (the “Company”), evidenced by the attached Warrant to   Purchase Common Stock (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the   respective meanings set forth in the Warrant.   1. Exercise Price. The Holder intends that payment of the Exercise Price shall be made as (check one):    Cash Exercise under Section 1(a).    Cashless Exercise under Section 1(c).   2. Cash Exercise. If the Holder has elected a Cash Exercise, the Holder shall pay the sum of $5.00 to the   Company in accordance with the terms of the Warrant.   3. Delivery of Warrant Shares. The Company shall deliver to the holder [•] Warrant Shares in accordance   with the terms of the Warrant.   4. Representations and Warranties. By its delivery of this Exercise Notice, the undersigned represents and   warrants to the Company that in giving effect to the exercise evidenced hereby the Holder will not beneficially own   in excess of the number of shares of Common Stock (determined in accordance with Section 13(d) of the Securities   Exchange Act of 1934, as amended) permitted to be owned under Section 1(d) of this Warrant to which this notice   relates.   DATED:                                                (Signature must conform in all respects   to name of the Holder as specified on   the face of the Warrant)           Registered Holder         Address:                                       

 

    13        ACKNOWLEDGMENT   The Company hereby acknowledges this Exercise Notice.       CANCER GENETICS, INC.         By:           Name:       Title:Exhibit 10.1

 Exhibit 10.1 

CONFORMED COPY 
  
 

 
 Dated 6 NOVEMBER 2015 

INNOSPEC INC AND OTHERS 

BARCLAYS BANK PLC 

CREDIT SUISSE AG 
 THE
ROYAL BANK OF SCOTLAND PLC 
 ACTING AS AGENT FOR NATIONAL WESTMINSTER BANK PLC 

LLOYDS BANK PLC 
 WELLS
FARGO BANK N.A. 
 U.S. BANK NATIONAL ASSOCIATION 

(acting as Mandated Lead Arrangers) 

BARCLAYS BANK PLC 
 as
Document Co-ordinator 
 and 

LLOYDS BANK PLC 
 (acting
as Agent and Security Agent) 
  
  

SECOND AMENDMENT AND 

RESTATEMENT AGREEMENT 

RELATING TO A FACILITY 

AGREEMENT DATED 

14 DECEMBER 2011 AS PREVIOUSLY 

AMENDED AND RESTATED ON 

28 AUGUST 2013 
  

 

 CONFORMED COPY 

 

 Contents 
  

							
	 	 	 	  	Page	 
		 	Clause	  			
			
	1	 	Definitions and Interpretation	  	 	0	  
	2	 	Conditions Precedent	  	 	3	  
	3	 	Amendments	  	 	3	  
	4	 	Representations	  	 	3	  
	5	 	Fees	  	 	4	  
	6	 	Guarantee	  	 	5	  
	7	 	Security	  	 	5	  
	8	 	Continuity and further assurance	  	 	5	  
	9	 	Miscellaneous	  	 	6	  
	10	 	Governing Law	  	 	6	  
			
		 	Schedule	  			
			
	1	 	Conditions Precedent	  	 	7	  
	2	 	Amended Facility Agreement	  	 	10	  
	3	 	Commitments following Required Transfers	  	 	12	  

 CONFORMED COPY 
  

			
	This Agreement is made on	  	6 NOVEMBER 2015

 Between 
  

	(1)	Innospec Inc. (Parent); 

  

	(2)	The Obligors as defined in the Amended Facility Agreement (as defined below); 

  

	(3)	Barclays Bank PLC, Credit Suisse AG, The Royal Bank of Scotland plc acting as agent for National Westminster Bank Plc, Lloyds Bank plc, U.S. Bank National Association and Wells
Fargo Bank N.A. as mandated lead arrangers (whether acting individually or together in this capacity, the Arrangers); 

  

	(4)	The Financial Institutions listed in part 2 of schedule 1 (The Original Parties) to the Amended Facility Agreement as original lenders (Original Lenders); 

 

	(5)	The Financial Institutions listed in part 3 of schedule 1 (The Original Parties) to the Amended Facility Agreement as bilateral lenders (Original Bilateral Banks); 

 

	(6)	The Financial Institutions listed in part 4 of schedule 1 (The Original Parties) to the Amended Facility Agreement as hedging banks (Original Hedging Banks); 

 

	(7)	Barclays Bank PLC as document co-ordinator (Document Co-ordinator); 

  

	(8)	Lloyds Bank plc as agent for and on behalf of the other Finance Parties under and as defined in the Amended Facility Agreement defined below (Agent); and 

 

	(9)	Lloyds Bank plc as security agent and trustee for and on behalf of the other Finance Parties under and as defined in the Amended Facility Agreement defined below (Security Agent). 

Whereas 
  

	(A)	Clydesdale, Barclays and Natwest have made the Required Transfers immediately prior to the Parties entering into this Agreement. Following completion of the Required Transfers, the Commitments of each Lender immediately
prior to the date of this Agreement are set out in schedule 3 (Commitments following Required Transfers). 

  

	(B)	Upon the completion of the Required Transfers, Clydesdale ceased being an Arranger for the purposes of the Original Facility Agreement pursuant to the Arranger Discharge Deed. 

 

	(C)	Innospec Alchemy resigned as Guarantor under the Original Facility Agreement on 1 October 2015. 

  

	(D)	Innospec Widnes Limited resigned as a Borrower and Guarantor under the Original Facility Agreement on 6 July 2015. 

It is agreed 
  

	1	Definitions and Interpretation 

  

	1.1	In this Agreement: 

 Amended Facility Agreement means the Original Facility Agreement as
amended and restated by this Agreement, the terms of which are set out in schedule 2 (Amended Facility Agreement) 

 CONFORMED COPY 
  

 Arranger Discharge Deed means the arranger discharge deed dated on or about the date
of this Agreement and made between the Agent, Clydesdale and Innospec Finance Limited 
 Arranger Fee Letter means the letter dated
the date of this Agreement between the Parent, the Continuing Arrangers and the New Arranger setting out the amount of the fee referred to in clause 5(a) (Fees) 

Barclays means Barclays Bank PLC 

Co-ordination Fee Letter means the letter dated the date of this Agreement between the Parent and Barclays Bank PLC as document
co-ordinator setting out the amount of the fee referred to in clause 7(b) (Fees) 
 Confirmatory Key Property Debenture means a
confirmatory security agreement between Innospec (Plant) Limited and the Security Agent in respect of the English law governed key property debenture dated 14 December 2011 

Clydesdale means Clydesdale Bank PLC (trading as Yorkshire Bank) 

Confirmatory Security Agreement 2015 means: 
  

	 	(a)	a confirmatory security agreement between, among others, Innospec Limited and the Security Agent in respect of the English law governed debenture dated 14 December 2011 

 

	 	(b)	the Confirmatory Key Property Debenture 

  

	 	(c)	a confirmatory security agreement between the Parent and the Security Agent in respect of the English law governed share security agreement dated 14 December 2011 

 

	 	(d)	a confirmatory security agreement between the Parent and the Security Agent in respect of the Swiss law governed share pledge agreement relating to the pledge over the shares in Innospec GmbH dated 14 December 2011

  

	 	(e)	a confirmatory security agreement between Innospec GmbH and the Security Agent in respect of the Swiss law governed share pledge agreement relating to the pledge over the shares in Alcor Chemie Vertriebs GmbH dated
14 December 2011 

  

	 	(f)	a confirmatory security agreement between OBOAdler Company Limited and the Security Agent in respect of the Swiss law governed share pledge agreement relating to the pledge over the shares in Alcor Chemie Vertriebs GmbH
dated 14 December 2011 

  

	 	(g)	a confirmatory security agreement between Alcor Chemie Vertriebs GmbH and the Security Agent in respect of the Swiss law governed assignment agreement relating to the assignment of certain assets dated 14 December
2011 and 

  

	 	(h)	a confirmation of security between, among others, the Parent and the Security Agent in respect of the New York law governed security agreement, stock pledge agreement and intellectual property security agreement dated,
in each case, 14 December 2011 

 Natwest means National Westminster Bank Plc 

 CONFORMED COPY 
  

 New U.S. Security Document means a pledge agreement supplement entered into by
Innospec Oil Field Chemicals LLC in respect of the ownership interest it holds in Independence Oilfield Chemicals LLC in favour of the Security Agent 

Original Facility Agreement means the facility agreement dated 14 December 2011 (as previously amended and restated on
28 August 2013) between amongst others, the Parent, the Agent and the Security Agent 
 Party means a party to this Agreement

 Required Transfers means: 
  

	 	(a)	the transfer by Clydesdale of: 

  

	 	(i)	$13,333,333 of its Commitment to Wells Fargo Bank N.A. 

  

	 	(ii)	$13,333,333 of its Commitment to Lloyds Bank plc and 

  

	 	(iii)	$13,333,334 of its Commitment to U.S. Bank National Association 

  

	 	(b)	the transfer by Barclays of: 

  

	 	(i)	$2,666,667 of its Commitment to Wells Fargo Bank N.A. and 

  

	 	(ii)	$1,333,333 of its Commitment to Lloyds Bank plc 

  

	 	(c)	the transfer by Natwest of: 

  

	 	(i)	$1,333,334 of its Commitment to Lloyds Bank plc and 

  

	 	(ii)	$2,666,666 of its Commitment to U.S. Bank National Association 

 Second Restatement Date
means the date upon which the Agent issues the notification referred to in clause 2.1 (Conditions Precedent) 
 Supplemental Finance
Document means: 
  

	 	(a)	this Agreement 

  

	 	(b)	the Amended Facility Agreement 

  

	 	(c)	the Arranger Fee Letter 

  

	 	(d)	the Co-ordination Fee Letter 

  

	 	(e)	each Confirmatory Security Agreement 2015 

  

	 	(f)	the New U.S. Security Document and 

  

	 	(g)	any other Finance Document dated on or about the date of this Agreement. 

  

	1.2	Capitalised terms defined in the Original Facility Agreement have, unless expressly defined in this Agreement, the same meaning in this Agreement. 

 CONFORMED COPY 
  

	1.3	Construction 

 The provisions of clause 1.2 (Construction) and 1.4 (Third Party Rights)
of the Original Facility Agreement apply to this Agreement as though they were set out in full in this Agreement except that references to this Agreement in those clauses are to be construed as references to this Agreement. 

 

	2	Conditions Precedent 

  

	2.1	Clause 3 (Amendments) shall not take effect unless the Agent notifies the Parent and the Lenders that it has received all of the documents and evidence set out in schedule 1 (Conditions precedent) in form and substance
satisfactory to the Agent. The Agent must give this notification as soon as reasonably practicable. 

  

	2.2	If the Agent does not give the notification under clause 2.1 by 11 November 2015 or such later date as the Parent and the Agent (acting on the instructions of the Majority Lenders) may agree, clause 3
(Amendments) shall not take effect. 

  

	3	Amendments 

 Subject as set out in clause 2 (Conditions Precedent), the Original Facility
Agreement will be amended and restated from and including the Second Restatement Date so that it shall be read and construed as if it were restated in the form set out in schedule 2 (Amended Facility Agreement). 

 

	4	Representations 

  

	4.1	Representations 

 The representations and warranties set out in this clause are made on
the date of this Agreement and on the Second Restatement Date to each Finance Party by each Obligor for itself and on behalf of each Subsidiary of that Obligor. References in this clause to “it” or “its” include, unless the
context otherwise requires, each Obligor and each Subsidiary of that Obligor. 
  

	4.2	Binding obligations 

 The obligations expressed to be assumed by it in each Supplemental
Finance Document are legal, valid, binding and (subject to the Legal Reservations) enforceable obligations. 
  

	4.3	Non-conflict with other obligations 

 The entry into and performance by it of, and the
transactions contemplated by, the Supplemental Finance Documents do not and will not: 
  

	 	(a)	conflict with any law or regulation applicable to it or any of its Subsidiaries; 

  

	 	(b)	contravene constitutional documents; 

  

	 	(c)	breach (in a manner or to an extent which could reasonably be expected to have a Material Adverse Effect) any agreement or instrument which is binding on it or any member of the Group or any member of the Group’s
assets; or 

  

	 	(d)	oblige it, or any of its Subsidiaries, to create any Security or result in the creation of any Security over its or their respective assets other than under the Security Documents. 

 CONFORMED COPY 
  

	4.4	Power and authority 

 It has the power to enter into and perform, and has taken all
necessary action to authorise its entry into and performance of, the Supplemental Finance Documents and the transactions contemplated by the Supplemental Finance Documents. 
  

	4.5	Validity and admissibility in evidence 

 All Authorisations required or desirable: 

 

	 	(a)	to enable it lawfully to enter into, exercise its rights and comply with its obligations in the Supplemental Finance Documents to which it is a party; 

 

	 	(b)	to make the Supplemental Finance Documents to which it is a party admissible in evidence in its jurisdiction of incorporation (save for any filings or registrations required in relation to the Security constituted by
the Security Documents, which filings and registrations will be made promptly after the execution of the relevant Security Documents and in any event within applicable time limits); and 

 

	 	(c)	to create the Security constituted by the Security Documents to which it is a party and, subject to the Legal Reservations, to ensure that such Security has the meaning specified therein, 

have been obtained or effected and are in full force and effect. 
  

	4.6	Facility Agreement 

 Each Obligor confirms to each Finance Party that on the date of this
Agreement and on the Second Restatement Date, the Repeating Representations: 
  

	 	(a)	are true; and 

  

	 	(b)	would also be true if references to the Original Facility Agreement are construed as references to the Amended Facility Agreement. 

In each case, each Repeating Representation is applied to the circumstances then existing and in the case of the confirmation made on the date
of this Agreement, as if the Second Restatement Date had occurred. 
  

	5	Fees 

  

	 	(a)	The Parent must, on the date of this Agreement, pay to each Arranger for its own account an arrangement fee in an amount referred to in the Arranger Fee Letter. 

 

	 	(b)	The Parent must on the date of this Agreement, pay to the Document Co-ordinator for its own account a document co-ordination fee in an amount referred to in the Co-ordination Fee Letter. 

 

	 	(c)	The commitment fees referred to in clause 12.1 (Fees) of the Amended Facility Agreement will become payable on and from the date of this Agreement as if the Second Restatement Date had occurred on the date of this
Agreement. 

 CONFORMED COPY 
  

	6	Guarantee 

 On the Second Restatement Date, each Obligor: 

 

	 	(a)	confirms its acceptance of the Amended Facility Agreement; 

  

	 	(b)	agrees that it is bound as an Obligor by the terms of the Amended Facility Agreement; and 

  

	 	(c)	(if a Guarantor) confirms that its guarantee: 

  

	 	(i)	continues in full force and effect on the terms of the Amended Facility Agreement; and 

  

	 	(ii)	extends to the obligations of the Obligors under the Finance Documents (including the Amended Facility Agreement), 

in each case, subject to any limitations set out in clauses 18.11 (Specific limitations for Swiss Guarantors), 18.12 (Specific provisions for
U.S. Guarantors) and 18.13 (Keepwell) of the Amended Facility Agreement. 
  

	7	Security 

 On the Second Restatement Date, each Obligor confirms that: 

 

	 	(a)	any Security created by it under the Security Documents extends to the obligations of the Obligors under the Finance Documents (including the Amended Facility Agreement) subject to any limitations set out in the
Security Documents; 

  

	 	(b)	the obligations of the Obligors arising under the Amended Facility Agreement are included in the Indebtedness or Secured Obligations (as applicable) (each as defined in the applicable Security Documents) subject to any
limitations set out in the Security Documents; and 

  

	 	(c)	the Security (as defined in the Security Documents) created under the Security Documents continue in full force and effect on the terms of the respective Security Documents. 

 

	8	Continuity and further assurance 

  

	8.1	Continuing obligations 

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

	8.2	Further assurance 

 Each Obligor shall promptly do all such acts or execute all such
documents as the Agent may reasonably specify (and in such form as the Agent may reasonably require) in favour of it or any other Finance Party to give effect to the amendments effected or to be effected pursuant to this Agreement. 

 CONFORMED COPY 
  

	8.3	No waiver 

 Save as and to the extent expressly waived in this Agreement, the Finance
Documents shall remain in full force and effect. No waivers are given and the Finance Parties expressly reserve all rights and remedies in respect of any breach of, or Default under, the Finance Documents, save as expressly set out in this
Agreement. 
  

	8.4	Finance Documents 

 Each Supplemental Finance Document is a Finance Document. 

 

	9	Miscellaneous 

  

	9.1	Incorporation of terms 

  

	 	(a)	Clauses 40 (Governing Law) and 41 (Enforcement) of the Amended Facility Agreement shall be deemed to be incorporated into this Agreement (with such conforming changes as the context requires) as if set out in full in
this Agreement. 

  

	 	(b)	Clause 31 (Notices) of the Amended Facility Agreement shall be deemed to be incorporated into this Agreement (with such confirming changes as the context requires) as if set out in full in this Agreement.

  

	9.2	This Agreement or any Supplemental Finance Document entered into under or in connection with this Agreement may be executed in any number of counterparts, and by each party on separate counterparts. Each counterpart is
an original, but all counterparts shall together constitute one and the same instrument. Delivery of a counterpart of this Agreement or such Supplemental Finance Document entered into under or in connection with this Agreement by e-mail attachment
or telecopy shall be an effective mode of delivery. 

  

	10	Governing Law 

 This Agreement and any non-contractual obligations arising out of or in
connection with it are governed by English law. 
 Executed as a deed by the parties or their duly authorised representatives on the date of this
Agreement. 

 CONFORMED COPY 
  

 Schedule 1 

Conditions Precedent 
  

	1	Conditions Precedent 

  

	1.1	A copy of the constitutional documents of each Obligor or, if the Agent already has a copy, a certificate of an authorised signatory of the relevant Obligor confirming that the copy in the Agent’s possession is
still correct, complete and in full force and effect as at a date no earlier than the date of this Agreement. 

  

	1.2	A copy of a resolution of the board of directors (or equivalent thereof) of each Obligor: 

  

	 	(a)	approving the terms of, and the transactions contemplated by, the Supplemental Finance Documents to which it is a party and resolving that it execute the Supplemental Finance Documents to which it is a party;

  

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

  

	 	(c)	authorising a specified person or persons, on its behalf, to sign and/or despatch all documents and notices (including, if relevant, any Utilisation Request) to be signed and/or despatched by it under or in connection
with the Supplemental Finance Documents to which it is a party. 

  

	1.3	If applicable. a copy of a resolution signed by all the holders of the issued shares in each Obligor (other than any US Guarantor), approving the terms of, and the transactions contemplated by, the Supplemental Finance
Documents to which that Obligor is a party. 

  

	1.4	If applicable, a copy of a resolution of the board of directors of each corporate shareholder in each Obligor, approving the terms of the resolution referred to in paragraph 1.3 above. 

 

	1.5	In respect of each Swiss Obligor a copy of a resolution of its general meeting of quotaholders approving the execution and the terms of, and the transactions contemplated by, the Supplemental Finance Documents.

  

	1.6	A specimen of the signature of each person authorised by the resolutions referred to in paragraph 1.2 above. 

  

	1.7	A certificate of each Obligor (signed by a member of Management, director or other appropriate representative) confirming that borrowing, guaranteeing or securing, as appropriate, the Total Commitments would not cause
any borrowing, guarantee, security or similar limit binding on any Obligor to be exceeded (each certificate to remain true and correct up to and on the Second Restatement Date (unless notified to the contrary by the relevant Obligor)).

  

	1.8	A certificate of an authorised signatory of each Obligor certifying that each copy document specified in this schedule is correct, complete and in full force and effect and has not been amended or superseded as at a
date no earlier than the date of this Agreement. 

  

	1.9	To the extent not otherwise provided above, the constitutive documents of any member of the Group incorporated in England and Wales or the U.S. whose shares are subject to Security under any of the Security Documents
together with any resolutions of the shareholders of such member of the Group adopting such changes to the constitutive documents of such member of the Group as the Agent shall have reasonably required (prior to the date of this Agreement) to, among
other things, remove any restriction on any transfer of shares or partnership interests (or equivalent) in such member of the Group pursuant to any enforcement of any of such Security Documents. 

 CONFORMED COPY 
  

	1.10	With respect to each Group Member which is an Obligor formed in any state of the United States of America a certificate of solvency signed by the Chief Financial Officer, or equivalent officer, of such Obligor and a
copy of a good standing certificate with respect to that Obligor issued as of a recent date by the Secretary of State or other appropriate official of that Obligor’s jurisdiction of incorporation or formation, as the case may be.

  

	2	Supplemental Finance Documents 

  

	2.1	This Agreement executed by each Party. 

  

	2.2	The Arranger Fee Letter signed by the Parent. 

  

	2.3	The Co-ordination Fee Letter signed by the Parent. 

  

	2.4	Each Confirmatory Security Agreement 2015, executed by each party to such agreement. 

  

	2.5	The New U.S. Security Document. 

  

	3	Perfection of Security 

  

	3.1	The results of Land Registry searches in favour of the Security Agent on the appropriate forms against all of the registered titles comprising each Key Property (as defined in the Confirmatory Key Property Debenture)
giving not less than 21 days priority beyond the date each Key Property (as defined in the Confirmatory Key Property Debenture) became subject to the terms of the relevant Supplemental Finance Documents and showing no adverse entries.

  

	3.2	An undertaking from DWF LLP (legal counsel to the Parent) to hold any title deeds that come into their possession to the order of the Security Agent. 

 

	3.3	All original share or membership certificates (if any) and related transfer forms executed in blank in relation to the equity interests subject to the New U.S. Security Documents to the extent appropriate under
applicable law. 

  

	4	Legal opinions 

  

	4.1	A legal opinion of Addleshaw Goddard LLP, legal advisers to the Arranger and the Agent in England as to English law, substantially in the form distributed to the Original Lenders prior to signing this Agreement.

  

	4.2	A legal opinion of Bär & Karrer AG, legal advisers to the Arranger and the Agent in Switzerland as to Swiss law, substantially in the form distributed to the Original Lenders prior to signing this
Agreement. 

  

	4.3	A legal opinion of SGR, legal advisers to the Obligors in the U.S., substantially in the form distributed to the Original Lenders prior to signing this Agreement. 

 

	5	Other documents and evidence 

  

	5.1	The Arranger Discharge Deed executed by each party to that deed. 

 CONFORMED COPY 
  

	5.2	All Transfer Certificates required to give effect to the Required Transfers, executed by each party to such Transfer Certificates. 

  

	5.3	The Financial Model (as defined in the Amended Facility Agreement). 

  

	5.4	Documentation and other evidence as is reasonably requested by the Agent or the Lenders in order for the Agent and the Lenders to carry out and be satisfied with the results of all necessary “know you
customer” or other checks on each Obligor pursuant to the transactions contemplated by the Supplemental Finance Documents. 

  

	5.5	A Group Structure Chart (as defined in the Amended Facility Agreement) showing the Group as at the Second Restatement Date. 

  

	5.6	Evidence that all fees, costs and expenses then due and payable from the Parent under this Agreement have been paid or will be paid on or before the Second Restatement Date. 

 

	5.7	A certificate from the Parent confirming that the Group is in compliance with clause 22.18(b) (Guarantors and security) as at the Second Restatement Date. 

 

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

 CONFORMED COPY 
  

 Schedule 2 

Amended Facility Agreement 

 CONFORMED COPY 
  

 

 
 Originally dated 14 December 2011 as amended and restated on 

28 August 2013 and on 6 November 2015 

INNOSPEC INC. and OTHERS 

BARCLAYS BANK PLC 
 CREDIT
SUISSE AG 
 THE ROYAL BANK OF SCOTLAND PLC 

(ACTING AS AGENT FOR NATIONAL WESTMINSTER BANK PLC) 

LLOYDS BANK PLC 
 U.S.
BANK NATIONAL ASSOCIATION 
 and 

WELLS FARGO BANK N.A. 

(acting as Mandated Lead Arrangers) 

BARCLAYS BANK PLC 

(acting as Document Co-ordinator) 

and 
 LLOYDS BANK PLC

 (acting as Agent and Security Agent) 
  

 

US$200,000,000 

MULTICURRENCY REVOLVING 

FACILITY AGREEMENT 
  

 

 CONFORMED COPY 
  

 Contents 
  

							
	 	  	 	  	Page	 
		  	Clause	  			
			
	1	  	Definitions and interpretation	  	 	2	  
	2	  	The Facilities	  	 	30	  
	3	  	Purpose	  	 	35	  
	4	  	Conditions of Utilisation	  	 	35	  
	5	  	Utilisation	  	 	36	  
	6	  	Optional currencies	  	 	38	  
	7	  	Repayment	  	 	38	  
	8	  	Prepayment and cancellation	  	 	39	  
	9	  	Interest	  	 	42	  
	10	  	Interest Periods	  	 	45	  
	11	  	Changes to the calculation of interest	  	 	45	  
	12	  	Fees	  	 	47	  
	13	  	Tax gross up and indemnities	  	 	47	  
	14	  	Increased costs	  	 	58	  
	15	  	Other indemnities	  	 	60	  
	16	  	Mitigation by the Lenders	  	 	62	  
	17	  	Costs and expenses	  	 	63	  
	18	  	Guarantee and indemnity	  	 	63	  
	19	  	Representations	  	 	70	  
	20	  	Information undertakings	  	 	76	  
	21	  	Financial covenants	  	 	79	  
	22	  	General undertakings	  	 	82	  
	23	  	Events of Default	  	 	97	  
	24	  	Changes to the Finance Parties	  	 	101	  
	25	  	Changes to the Obligors	  	 	112	  
	26	  	Role of the Agent, Security Agent and the Arranger	  	 	114	  
	27	  	Conduct of business by the Finance Parties	  	 	126	  
	28	  	Sharing among the Finance Parties	  	 	127	  
	29	  	Payment mechanics	  	 	128	  
	30	  	Set-off	  	 	134	  
	31	  	Notices	  	 	134	  
	32	  	Calculations and certificates	  	 	136	  
	33	  	Partial invalidity	  	 	136	  
	34	  	Remedies and waivers	  	 	136	  
	35	  	Amendments and waivers	  	 	137	  
	36	  	Obligors’ Agent	  	 	139	  
	37	  	USA Patriot Act	  	 	140	  
	38	  	Counterparts	  	 	140	  
	39	  	Publicity	  	 	140	  
	40	  	Governing law	  	 	140	  
	41	  	Enforcement	  	 	140	  
	42	  	Waiver of jury trial	  	 	141	  
			
		  	Schedule	  			
			
	1	  	The Original Parties	  	 	142	  
		  	Part 1 - The Original Obligors	  	 	142	  
		  	Part 2 - The Original Lenders	  	 	144	  
		  	Part 3 - The Original Bilateral Banks	  	 	145	  

 CONFORMED COPY 
  

							
		  	Part 4 - The Hedging Banks	  	 	146	  
	2	  	Conditions Precedent	  	 	147	  
		  	Part 1 - Conditions Precedent to Initial Utilisation	  	 	147	  
		  	Part 2 - Conditions Precedent required to be delivered by an Additional Obligor	  	 	151	  
	3	  	[Intentionally blank]	  	 	153	  
	4	  	Form of Utilisation Request	  	 	154	  
	5	  	Form of Transfer Agreements	  	 	155	  
		  	Part 1 - Form of Assignment Agreement	  	 	155	  
		  	Part 2 - Form of Transfer Certificate	  	 	158	  
	6	  	Form of Accession Letter	  	 	161	  
	7	  	Form of Resignation Letter	  	 	162	  
	8	  	Form of Compliance Certificate	  	 	163	  
	9	  	Form of Increase Confirmation	  	 	165	  
	10	  	Timetables	  	 	169	  

 CONFORMED COPY 
  

 This Agreement is dated 14 December 2011 (as amended and restated on 28 August 2013 and
6 November 2015) 
 Between 
  

	(1)	Innospec Inc. (Parent); 

  

	(2)	The Subsidiaries of the Parent listed in part 1 (The Original Obligors) of schedule 1 as original borrowers (together with the Parent, the Original Borrowers); 

 

	(3)	The Subsidiaries of the Parent listed in part 1 (The Original Obligors) of schedule 1 as original guarantors (together with the Parent, the Original Guarantors); 

 

	(4)	Barclays Bank PLC, Credit Suisse AG, The Royal Bank of Scotland plc acting as agent for National Westminster Bank Plc, Lloyds Bank plc, U.S. Bank National Association and Wells
Fargo Bank N.A. as mandated lead arrangers (whether acting individually or together the Arrangers); 

  

	(5)	The Financial Institutions listed in part 2 of schedule 1 (The Original Parties) as lenders (Original Lenders); 

 

	(6)	The Financial Institutions listed in part 3 of schedule 1 (The Original Parties) as bilateral lenders (Original Bilateral Banks); 

 

	(7)	The Institutions listed in part 4 of schedule 1 (The Original Parties) as hedging banks (Original Hedging Banks); 

 

	(8)	Barclays Bank PLC as document co-ordinator (Document Co-ordinator);  

  

	(9)	Lloyds Bank PLC as agent of the Lenders (Agent); and 

  

	(10)	Lloyds Bank PLC as security agent and trustee for the Finance Parties (Security Agent). 

It is agreed: 
  

	1	Definitions and interpretation 

  

	1.1	Definitions 

 In this Agreement: 

Accession Letter means a document substantially in the form set out in schedule 6 (Form of Accession Letter) 

Accordion Lender has the meaning give to it in clause 2.4(h) (Accordion Facility)  

Additional Borrower means a company which becomes an Additional Borrower in accordance with clause 25 (Changes to the Obligors)

 Additional Guarantor means a company which becomes an Additional Guarantor in accordance with clause 25 (Changes to the
Obligors) 
 Additional Obligor means an Additional Borrower or an Additional Guarantor 

  
 2 

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 Affiliate means, in relation to any person, a Subsidiary of that person or a Holding
Company of that person or any other Subsidiary of that Holding Company. Notwithstanding the foregoing, in relation to The Royal Bank of Scotland plc, the term Affiliate shall not include: 

 

	 	(a)	the UK government or any member or instrumentality thereof, including Her Majesty’s Treasury and UK Financial Investments Limited (or any directors, officers, employees or entities thereof) or 

 

	 	(b)	any persons or entities controlled by or under common control with the UK government or any member or instrumentality thereof (including Her Majesty’s Treasury and UK Financial Investments Limited)

 and which are not part of The Royal Bank of Scotland Group plc and its Subsidiaries 

Agent’s Spot Rate of Exchange means the Agent’s spot rate of exchange for the purchase of the relevant currency with the Base
Currency in the London foreign exchange market at or about 11.00 a.m. on a particular day 
 Alcor Chemie means Alcor Chemie
Vertriebs GmbH, a company incorporated in Switzerland with registered number CHE-105.631.378 (former register number CH-170.4.002.974-7) 

Approved Accounting Principles means those accounting principles, standards and practices which were used in the Original Financial
Statements of the Parent 
 Assignment Agreement means an agreement substantially in the form set out in part 1 of schedule 5
(Form of Assignment Agreement) or any other form agreed between the relevant assignor and assignee  
 Authorisation means an
authorisation, consent, approval, resolution, licence, exemption, filing, notarisation, or registration 
 Availability Period
means the period from and including the date of this Agreement to and including the day falling one month prior to the Termination Date. If the Availability Period ends on a day which is not a Business Day, then the Availability Period shall be
shortened to end on the Business Day before it would otherwise end 
 Available Commitment means, a Lender’s Commitment
minus: 
  

	 	(a)	the Base Currency Amount of its participation in any outstanding Loans and 

  

	 	(b)	in relation to any proposed Utilisation, the Base Currency Amount of its participation in any Loans that are due to be made on or before the proposed Utilisation Date 

other than that Lender’s participation in any Loans that are due to be repaid or prepaid on or before the proposed Utilisation Date 

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

Base Currency means dollars 

Base Currency Amount means, in relation to a Loan, the amount specified in the Utilisation Request delivered by a Borrower for that Loan
(or, if the amount requested is not denominated in the Base Currency, that amount converted into the Base Currency at the Agent’s Spot Rate of Exchange on the date which is three Business Days before the Utilisation Date or, if later, on the
date the Agent receives the Utilisation Request) adjusted to reflect any repayment, prepayment, consolidation or division of the Loan 

  
 3 

 CONFORMED COPY 
  

 Bilateral Bank means: 

 

	 	(a)	any Original Bilateral Bank and 

  

	 	(b)	any Lender or Lenders 

 and in the case of (b) above, as selected as a Bilateral Bank by
the Parent by notice to the Agent. The Original Bilateral Banks are Bilateral Banks as at the date of this Agreement 
 Bilateral
Borrower means any Group Company to which a Bilateral Bank has provided a Bilateral Facility 
 Bilateral Commitment means,
in relation to a Bilateral Bank, the maximum amount from time to time of the Bilateral Facilities made available by such Bilateral Bank to the extent not cancelled 

Bilateral Facility means any of the following facilities (or a combination thereof) provided by a Bilateral Bank to any Group Company
and identified by such Bilateral Bank and the Parent as a Bilateral Facility for the purpose of this Agreement and confirmed by the Agent in writing to such Bilateral Bank and the Parent that such facility is a Bilateral Facility for the purpose of
the Finance Documents: 
  

	 	(a)	overdraft, cash pooling and similar facilities and spot and forward foreign exchange facilities and 

  

	 	(b)	guarantee, bonding, documentary or demand letter of credit facilities 

 The Agent confirms by
its signature to the Second Amendment and Restatement Agreement that the following are Bilateral Facilities as at the Second Restatement Date: 
  

	 	(i)	the £4,500,000 gross and £1,500,000 net sterling composite accounting facility made between Barclays Bank PLC and various Borrowers evidenced by a letter dated 20 August 2013 (as varied on or about the
Second Restatement Date) 

  

	 	(ii)	the $8,600,000 gross and $2,800,000 net United States dollar composite accounting facility made between Barclays Bank PLC and various Borrowers evidenced by a letter dated 20 August 2013 (as varied on or about the
Second Restatement Date) 

  

	 	(iii)	the €6,000,000 gross and €2,000,000 net euro composite accounting facility made between Barclays Bank PLC and various Borrowers evidenced by a letter dated 20 August 2013 (as varied on or about the Second
Restatement Date) 

  

	 	(iv)	the $3,500,000 bond/guarantee facility made between, among others, Barclays Bank PLC and Innospec and evidenced by a letter dated 9 July 2013 (as varied on or about the Second Restatement Date) 

 

	 	(v)	the $5,000,000 bond issuance facility made between National Westminster Bank Plc and Innospec evidenced by a letter dated 19 May 2009 

  
 4 

 CONFORMED COPY 
  

	 	(vi)	the $15,000,000 bond/guarantee and documentary credit facility made between Lloyds Bank plc (formerly known as Lloyds TSB Bank plc) and Innospec evidenced by a letter dated 22 September 2014 

 

	 	(vii)	the $2,000,000 bond/guarantee and documentary credit facility made between Credit Suisse AG and Alcor Chemie Vertriebs GmbH evidenced by an agreement dated 23 December 2011 (as varied on or around 22 May 2014)
and 

  

	 	(viii)	the £1,000,000 standby letter of credit facility made between Barclays Bank PLC and Innospec Insurance Company Limited evidenced by a letter dated on or about 14 January 2015 

The Agent will confirm that any facility is a Bilateral Facility if it is satisfied that such facility falls within (a) or (b) above
and that the provisions of clause 22.10(b) (Indebtedness) are not breached as a result of such facility being confirmed as a Bilateral Facility 

Bilateral Facility Documents means those documents relating to or evidencing the terms of any Bilateral Facility 

Bilateral Outstandings means, at any time, the dollar equivalent of the aggregate of the following amounts outstanding at such time
under any Bilateral Facility: 
  

	 	(a)	all amounts of principal then outstanding under any overdraft facilities determined on the same basis as that for determination of any limit on such facilities imposed by the terms thereof 

 

	 	(b)	the maximum potential liability (excluding any cash cover) under all guarantees, bonds and letters of credit issued by the relevant Bilateral Bank which are then outstanding under the relevant Bilateral Facility and

  

	 	(c)	in relation to any other Bilateral Facilities, the amount fairly representing the aggregate exposure (excluding interest and similar charges) of that Bilateral Bank under each other type of accommodation provided under
that Bilateral Facility as determined by such Bilateral Bank in accordance with the relevant Bilateral Facility Document or market practice 

Bilateral Utilisation means an advance made or guarantee, bond or letter of credit issued under a Bilateral Facility 

Borrower means an Original Borrower or an Additional Borrower unless it has ceased to be a Borrower in accordance with clause
25 (Changes to the Obligors) 
 Break Costs means the amount (if any) by which: 

 

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

exceeds: 
  

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

  
 5 

 CONFORMED COPY 
  

 Business means the octane additives, fuel specialties, active chemicals, oilfield
chemicals and related businesses carried on by Parent and other members of the Group 
 Business Day means a day (other than a
Saturday or Sunday) on which banks are open for general business in London, New York and: 
  

	 	(a)	(in relation to any date for payment or purchase of a currency other than euro) the principal financial centre of the country of that currency or 

 

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

 Cash
Equivalents means: 
  

	 	(a)	marketable direct obligations issued by, or unconditionally guaranteed by, the United Kingdom Government or Swiss Government or issued by any agency of either such government and backed by the full faith and credit of
the United Kingdom or Switzerland (as applicable), in each case maturing within one year from the date of acquisition thereof by a member of the Group 

  

	 	(b)	commercial paper maturing no more than one year from the date of creation thereof and, at the time of acquisition, having a rating of at least A-1 from Standard and Poor’s Corporation or at least P-1 from
Moody’s Investors Service Inc. 

  

	 	(c)	certificates of deposit or bankers’ acceptances maturing within one year from the date of acquisition thereof issued by any bank having a rating of at least A-1 from Standard and Poor’s Corporation or at least
P-1 from Moody’s Investors Service Inc. 

  

	 	(d)	any investments in marketable direct obligations of the U.S. government (or any agency thereof) or in obligations fully and unconditionally guaranteed by the U.S. government (or any agency thereof), in each case
maturing within one year from the date of acquisition thereof by a member of the Group and 

  

	 	(e)	investments in money market funds which invest substantially all their assets in securities of the types described in paragraphs (a) to (d) above 

Charged Property means all of the assets of the Obligors which from time to time are, or are expressed to be, the subject of the
Transaction Security 
 Commitment means: 
  

	 	(a)	in relation to an Original Lender, the amount in the Base Currency set opposite its name under the heading Commitment in part 2 of schedule 1 (The Original Parties) and the amount of any other Commitment
transferred to it under this Agreement and 

  

	 	(b)	in relation to any other Lender, the amount in the Base Currency of any Commitment transferred to it under this Agreement or assumed by it pursuant to clause 2.4 (Accordion Facility) 

to the extent not cancelled, reduced or transferred by it under this Agreement 

Compliance Certificate means a certificate substantially in the form set out in schedule 8 (Form of Compliance Certificate)

  
 6 

 CONFORMED COPY 
  

 Confidential Information means all information relating to the Parent, any Obligor,
the Group, the Finance Documents or the Facility of which a Finance Party becomes aware in its capacity as, or for the purpose of becoming, a Finance Party or which is received by a Finance Party in relation to, or for the purpose of becoming a
Finance Party under, the Finance Documents or the Facility from either: 
  

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

  

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

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

	 	(i)	information that: 

  

	 	(A)	is or becomes public information other than as a direct or indirect result of any breach by that Finance Party of clause 24.9 (Disclosure of information) 

 

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

  

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

  

	 	(ii)	any Funding Rate or Reference Bank Quotation 

 Confidentiality Undertaking means a
confidentiality undertaking substantially in a recommended form of the LMA or in any other form agreed between the Parent and the Agent 

Confirmatory Security Agreement 2013 means: 
  

	 	(a)	a confirmatory security agreement between, among others, Innospec and the Security Agent in respect of the English law governed debenture dated 3 September 2013 

 

	 	(b)	a confirmatory security agreement between Innospec (Plant) Limited and the Security Agent in respect of the English law governed key property debenture dated 3 September 2013 

 

	 	(c)	a confirmatory security agreement between Innospec Inc. and the Security Agent in respect of the English law governed share security agreement dated 3 September 2013 

 

	 	(d)	a confirmatory security agreement between Innospec Inc. and the Security Agent in respect of the Swiss law governed share pledge agreement relating to the pledge over the shares in Innospec GmbH dated 3 September
2013 

  
 7 

 CONFORMED COPY 
  

	 	(e)	a confirmatory security agreement between Innospec GmbH and the Security Agent in respect of the Swiss law governed share pledge agreement relating to the pledge over the shares in Alcor Chemie dated 3 September
2013 

  

	 	(f)	a confirmatory security agreement between OBOAdler Company Limited and the Security Agent in respect of the Swiss law governed share pledge agreement relating to the pledge over the shares in Alcor Chemie dated
3 September 2013 and 

  

	 	(g)	a confirmatory security agreement between Alcor Chemie and the Security Agent in respect of the Swiss law governed assignment agreement relating to the assignment of certain assets dated 3 September 2013

 Confirmatory Security Agreement 2015 means the following agreements, each dated on or around the Second Restatement
Date: 
  

	 	(a)	a confirmatory security agreement between, among others, Innospec and the Security Agent in respect of the English law governed debenture 

 

	 	(b)	a confirmatory security agreement between Innospec (Plant) Limited and the Security Agent in respect of the Key Property Debenture 

  

	 	(c)	a confirmatory security agreement between Innospec Inc. and the Security Agent in respect of the English law governed share security agreement 

 

	 	(d)	a confirmatory security agreement between Innospec Inc. and the Security Agent in respect of the Swiss law governed share pledge agreement relating to the pledge over the shares in Innospec GmbH 

 

	 	(e)	a confirmatory security agreement between Innospec GmbH and the Security Agent in respect of the Swiss law governed share pledge agreement relating to the pledge over the shares in Alcor Chemie 

 

	 	(f)	a confirmatory security agreement between OBOAdler Company Limited and the Security Agent in respect of the Swiss law governed share pledge agreement relating to the pledge over the shares in Alcor Chemie

  

	 	(g)	a confirmatory security agreement between Alcor Chemie and the Security Agent in respect of the Swiss law governed assignment agreement relating to the assignment of certain assets and 

 

	 	(h)	a confirmation of security between, among others, the Parent and the Security Agent in respect of the New York law governed security agreement, stock pledge agreement and intellectual property security agreement dated,
in each case, 14 December 2011 

 Confirmatory Security Agreements means the Confirmatory Security Agreements 2013
and the Confirmatory Security Agreements 2015 
 CRD IV means: 

 

	 	(a)	Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and 

 

	 	(b)	Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms

  
 8 

 CONFORMED COPY 
  

 Credit Participation means, in relation to a Lender, Bilateral Bank or Hedging Bank,
the aggregate of: 
  

	 	(a)	its Commitment (if any) 

  

	 	(b)	its aggregate Bilateral Commitments (if any) and 

  

	 	(c)	the amount, if any, which would be payable to it under any Hedging Agreement calculated in accordance with section 6(e)(i)(3) of the relevant ISDA 1992 Master Agreement, or, as the case may be, section 6(e)(ii) of
the relevant ISDA 2002 Master Agreement if the date on which the calculation is made was deemed to be an Early Termination Date for which the relevant Borrower party to such Hedging Agreement is the Defaulting Party (and for this purpose Early
Termination Date and Defaulting Party shall have the meanings given to them in the ISDA 1992 Master Agreement or, as the case may be, the ISDA 2002 Master Agreement), such amount to be certified by the relevant Lender in accordance with
the ISDA 1992 Master Agreement or the ISDA 2002 Master Agreement as the case may be 

 Debenture means each
debenture entered into by each of the Original Obligors which is incorporated in England in favour of the Security Agent and dated 14 December 2011 including the Key Property Debenture  

Default means an Event of Default or any event or circumstance specified in clause 23 (Events of Default) which would (with the
expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an Event of Default 

Default Rate means the rate at which default interest is payable under clause 9.4 (Default interest) 

Deferred Consideration Date means 28 October 2016 

Delegate means any delegate, agent, attorney or co-trustee appointed by the Security Agent 

Disclosure Letter means the disclosure letter dated on or around the First Supplemental Agreement and delivered by the Parent to the
Agent in relation to clause 19.22 (Sanctions), clause 19.23 (Anti-Money Laundering) and clause 19.24 (Anti-Corruption) 

Disruption Event means either or both of: 
  

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

 

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

 

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

  

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

  
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 CONFORMED COPY 
  

 and which (in either such case) is not caused by, and is beyond the control of, the Party
whose operations are disrupted 
 Dormant Company means a member of the Group (other than Innospec (Plant)) which: 

 

	 	(a)	during the most recently ended financial year of the Group was dormant within the meaning of section 1169 of the Companies Act 2006 (which, for the purposes of this definition, shall be deemed to apply to any body
corporate, wherever incorporated) 

  

	 	(b)	has not entered into any significant accounting transaction (for the purposes of that section) since the end of that financial year and 

 

	 	(c)	does not own assets with an aggregate realisable value greater than $50,000 (or its equivalent in other currencies) and has no material liabilities 

EBITDA has the meaning ascribed to it in clause 21 (Financial covenants) 

English Share Pledge means the charge over shares in Innospec International Limited dated 14 December 2011 made by the Parent in
favour of the Security Agent  
 Environment means all gases, air, vapours, liquids, water (including groundwater), land,
surface and sub-surface soils, rock, flora, fauna, wetlands and all other natural resources or part thereof including artificial or man-made buildings, structures or enclosures 

Environmental Approval means any permit, licence, authorisation, consent, variance, registration or other approval required under or in
relation to Environmental Laws 
 Environmental Laws means all European Union, foreign, national, federal, state or local
statutes, orders, regulations or other law or subordinate legislation or common law or regulatory codes of practice concerning the Environment, Hazardous Substances or health and safety which are in existence now or in the future and are binding
upon any member of the Group in the relevant jurisdiction in which the relevant member of the Group has been or is operating (including by the export of its products or its waste thereto) 

EURIBOR means, in relation to any Loan in euro: 
  

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

 

	 	(b)	as otherwise determined pursuant to clause 11.1 (Unavailability of Screen Rate) 

 and if, in
either case, that rate is less than zero, EURIBOR shall be deemed to be zero 
 Event of Default means any event or circumstance
specified as such in clause 23 (Events of Default) 
 Existing Hedging Agreement means each of the following hedging
agreements: 
  

	 	(a)	the $5,000,000 derivatives, commodity and foreign exchange facility made between Barclays Bank PLC and Innospec Finance and evidenced by a 1992 ISDA agreement dated 29 October 2001 as amended or amended and
restated, as the case may be, from time to time 

  
 10 

 CONFORMED COPY 
  

	 	(b)	the spot and forward foreign exchange facility made between Barclays Bank PLC and Innospec Finance evidenced by a letter dated 9 July 2013 

 

	 	(c)	the spot and forward foreign exchange facility made between Barclays Bank PLC and Innospec evidenced by a letter dated on or about the Second Restatement Date 

 

	 	(d)	the spot and forward foreign exchange facility made between National Westminster Bank Plc and Innospec Finance put in place from time to time and 

 

	 	(e)	the £15,000,000 derivatives facility under the 1992 ISDA Master Agreement between Lloyds Bank plc (formerly Lloyds TSB Bank plc) and Innospec Finance (formerly Octel Finance Limited) dated 16 February 2006 as
amended or amended and restated, as the case may be, on or about the Second Restatement Date and from time to time 

Facility means the revolving loan facility made available under this Agreement as described in of clause 2.1 (The Facilities)

 Facility Office means the office or offices notified by a Lender to the Agent in writing on or before the date it becomes a
Lender (or, following that date, by not less than five Business Days’ written notice) as the office or offices through which it will perform its obligations under this Agreement 

FATCA means: 
  

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

  

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

  

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

 FATCA Application Date means: 

 

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

  

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

  

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

or, in each case, such other date from which such payment may become subject to a deduction or withholding required by FATCA as a result of any
change in FATCA after the date of this Agreement 

  
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 FATCA Deduction means a deduction or withholding from a payment under a Finance
Document required by FATCA 
 FATCA Exempt Party means a Party that is entitled to receive payments free from any FATCA
Deduction 
 Fee Letter means any letter or letters between a Finance Party and an Obligor setting out fees payable to a
Finance Party in connection with this Agreement, the First Supplemental Agreement or the Second Amendment and Restatement Agreement 

Finance Document means this Agreement, the First Supplemental Agreement, the Second Amendment and Restatement Agreement, any Fee Letter,
any Accession Letter, any Resignation Letter, any Transfer Certificate, any Assignment Agreement, any Security Document, any Hedging Agreement, any Bilateral Facility Document and any other document designated as such by the Agent and the Parent or
the Agent and the Obligors’ Agent 
 Finance Party means each of: 

 

	 	(a)	the Agent 

  

	 	(b)	the Security Agent 

  

	 	(c)	each Arranger 

  

	 	(d)	each Lender 

  

	 	(e)	each Hedging Bank 

  

	 	(f)	each Bilateral Bank and 

  

	 	(g)	the Document Co-ordinator 

 Financial Indebtedness means any indebtedness for or in
respect of: 
  

	 	(a)	monies borrowed 

  

	 	(b)	any amount raised by acceptance under any acceptance credit facility 

  

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

 

	 	(d)	the amount of any liability in respect of any lease or hire purchase contract which would, in accordance with Approved Accounting Principles, be treated as a finance or capital lease 

 

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

  

	 	(f)	any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing 

 

	 	(g)	any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any derivative transaction, only the marked to market
value shall be taken into account) 

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

 

	 	(i)	any amount of any liability under an advance or deferred purchase agreement if one of the primary reasons behind the entry into this agreement is to raise finance or if the deferred payment is to be paid more than 180
days after the date of the acquisition or supply (as appropriate) of the relevant asset or service provided under such agreement and 

  

	 	(j)	the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs (a) to (i) above 

and so that, where the amount of Financial Indebtedness falls to be calculated, no amount shall be taken into account more than once in the
same calculation 
 Financial Model means the financial model entitled “Innospec Strat 5 Year Plan 2015.base.xlsm” prepared
by the Parent and distributed to the Finance Parties by Andrew Pickering of the Parent by e mail on 4 September 2015 at 14:53 

First Supplemental Agreement means the supplemental agreement dated 28 August 2013 between the Obligors, and the Finance Parties by
which this Agreement was amended and restated 
 Funding Rate means any individual rate notified by a Lender to the Agent
pursuant to clause 11.4(a)(ii)(Cost of funds)  
 Group means the Parent and its Subsidiaries for the time being 

Group Company means a member of the Group 

Group Structure Chart means a group structure chart, in the agreed form, showing: 

 

	 	(a)	all members of the Group 

  

	 	(b)	any person in which any Group member has (or members of the Group together have) an interest of more than 25% in the issued share capital or equivalent ownership interest of such person 

 

	 	(c)	the jurisdiction of incorporation of each person within (a) and (b) above and 

  

	 	(d)	that all members of the Group are wholly owned Subsidiaries of the Parent or, if any members of the Group are not wholly owned Subsidiaries of the Parent, specifying the percentage shareholding or other economic
interest which the Parent (directly or indirectly) holds in such members of the Group 

 Guarantor means an Original
Guarantor or an Additional Guarantor, unless it has ceased to be a Guarantor in accordance with clause 25 (Changes to the Obligors) 

Guidelines means, together, guideline S-02.123 in relation to interbank loans of 22 September 1986 (Merkblatt
“Verrechnungssteuer auf Zinsen von Bankguthaben, deren Gläubiger Banken sind (Interbankguthaben)” vom 22. September 1986), guideline S-02.122.1 in relation to bonds of April 1999 (Merkblatt “Obligationen” vom April
1999), guideline S-02.130.1 in relation to money market instruments and book claims of April 1999 (Merkblatt vom April 1999 betreffend Geldmarktpapiere und Buchforderungen inländischer Schuldner),

  
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guideline S-02.128 in relation to syndicated credit facilities of January 2000 (Merkblatt “Steuerliche Behandlung von Konsortialdarlehen, Schuldscheindarlehen, Wechseln und
Unterbeteiligungen” vom Januar 2000), circular letter No. 34 of 26 July 2011 (1-034-V-2011) in relation to deposits (Kreisschreiben Nr. 34 “Kundenguthaben” vom 26. Juli 2011) and the circular letter No. 15 of
7 February 2007 (1-015-DVS-2007) in relation to bonds and derivative financial instruments as subject matter of taxation of Swiss federal income tax, Swiss Withholding Tax and Swiss Stamp Taxes (Kreisschreiben Nr. 15 “Obligationen und
derivative Finanzinstrumente als Gegenstand der direkten Bundessteuer, der Verrechnungssteuer und der Stempelabgaben vom 7. Februar 2007”), in each case as issued, amended or replaced from time to time, by the Swiss Federal Tax
Administration or as substituted or superseded and overruled by any law, statute, ordinance, court decision, regulation or the like as in force from time to time 

Hazardous Substance means any material, chemical or substance: 

 

	 	(a)	that is designated or regulated by any law or government authority as hazardous, toxic, a pollutant, a contaminant, radioactive or industrial waste 

 

	 	(b)	for which any law or government authority requires investigation, reporting or remedial action 

  

	 	(c)	that is or contains asbestos, urea formaldehyde insulation, polychlorinated biphenyls, petroleum, petroleum products, petroleum components, petroleum derivatives, petroleum distillates, radon gas, ozone-depleting
substances, greenhouse gases, or radioactive, explosive or biohazardous materials or 

  

	 	(d)	that is capable of causing harm to the Environment 

 Hedging Agreements means:

  

	 	(a)	any Existing Hedging Agreement and 

  

	 	(b)	any hedging agreement entered into by an Obligor with a Hedging Bank is permitted under clause 22.14 (Permitted Hedging Transactions) and the provisions of clause 22.9(a)(i) (Hedging Arrangements) and which is
secured by the Transaction Security 

 Hedging Bank means any Lender or Affiliate of a Lender which is an Original
Hedging Bank, has acceded to this Agreement or is a party to this Agreement, in its capacity as provider of hedging under a Hedging Agreement, including under any Existing Hedging Agreement 

Holding Company means, in relation to a company or corporation, any other company or corporation in respect of which it is a
Subsidiary 
 Increase Confirmation means a confirmation substantially in the form set out in schedule 9 (Form of Increase
Confirmation) 
 Increase Date has the meaning given to that term in clause 2.4(i) (Accordion Facility) 

Indebtedness for Borrowed Money means Financial Indebtedness save for any indebtedness for or in respect of paragraphs (g) or
(h) of the definition of “Financial Indebtedness” in this clause 1.1 
 Independence Oilfield means Independence
Oilfield Chemicals LLC, a limited liability company organised under the laws of the State of Delaware  

  
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 Innospec means Innospec Limited, a company incorporated in England with registered
number 344359 
 Innospec (Plant) means Innospec (Plant) Limited, a company incorporated in England with registered
number 873396 
 Innospec Developments means Innospec Developments Limited (a company incorporated in England with
registered number 3516662) 
 Innospec Finance means Innospec Finance Limited (a company incorporated in England and Wales
with registered number 5330706) 
 Innospec Fuel means Innospec Fuel Specialties Limited (a company incorporated in
England with registered number 3316334) 
 Innospec GmbH means Innospec GmbH (a company incorporated in Switzerland with
registered number CH-170.4.004.635-1) 
 Innospec Trading means Innospec Trading
Limited (a company incorporated in England with registered number 3516648) 
 Insolvency Event means, in relation to a
Finance Party: 
  

	 	(a)	any receiver, administrative receiver, administrator, liquidator, compulsory manager or other similar officer is appointed in respect of that Finance Party or all or substantially all of its assets 

 

	 	(b)	that Finance Party is subject to any event which has an analogous effect to any of the events specified in paragraph (a) under the applicable laws of any jurisdiction or 

 

	 	(c)	that Finance Party suspends making payments on all or substantially all of its debts or publicly announces an intention to do so 

Intellectual Property means the Intellectual Property Rights owned by members of the Group throughout the world or the interests of any
member of the Group in any of the foregoing, together with the benefit of all agreements entered into or the benefit of which is enjoyed by any member of the Group relating to the use or exploitation of any of the aforementioned rights 

Intellectual Property Rights means all patents and patent applications, trade and service marks and trade and/or service mark
applications (and all goodwill associated with such applications), all brand and trade names, all copyrights and rights in the nature of copyright, all design rights, all registered designs and applications for registered designs, all trade secrets,
know-how and all other intellectual property rights 
 Interest Period means, in relation to a Loan, each period determined in
accordance with clause 10 (Interest Periods) and, in relation to an Unpaid Sum, each period determined in accordance with clause 9.4 (Default interest) 

Internal Revenue Code means, at any date, the Internal Revenue Code of 1986 of the United States of America or any successor legislation
thereto as amended from time to time, and the regulations promulgated and rules issued thereunder, all as the same may be in effect at such date 

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

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

 

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

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

IRS means the United States Internal Revenue Service or any successor 

ITA means the Income Tax Act 2007 

Joint Venture means all joint venture entities, whether a company, unincorporated firm, undertaking, association, joint venture or
partnership or other entity, in each case which is not a Group Company 
 Key Properties means the land and buildings at Oil
Sites Road, Ellesmere Port, Cheshire comprising: 
  

	 	(a)	the freehold land abutting The Manchester Ship Canal registered at the Land Registry with freehold title absolute under title number CH420032 

 

	 	(b)	the freehold land to the north of Oil Sites Road registered at the Land Registry with freehold title absolute under title number CH363860 

 

	 	(c)	the freehold land on the North side of Oil Sites Road, Ellesmere Port, Cheshire registered at the Land Registry with title absolute under title number CH425646 

 

	 	(d)	the leasehold property being the Armco Barriers, Oil Sites Road, Ellesmere Port registered at the Land Registry with good leasehold title under title number CH403291 and 

 

	 	(e)	land abutting the Manchester Ship Canal demised by a lease dated 14 October 1998 and made between The Manchester Ship Canal Company (1) and Innospec (Plant) (2) and registered at the Land Registry under
Title Number CH431481 

 Key Property Debenture means the debenture dated 14 December 2011 entered into by Innospec
(Plant) creating Security over, inter alia, the Key Properties 
 Legal Reservations means: 

 

	 	(a)	the principle that equitable remedies are remedies which may be granted or refused at the discretion of the court 

  

	 	(b)	the limitation on enforcement as a result of laws relating to bankruptcy, insolvency, liquidation, reorganisation, court schemes, moratoria, administration and other laws generally affecting the rights of creditors
generally 

  

	 	(c)	the principle that certain types of security expressed to take effect as fixed security may, as a result of the ability of an Obligor to deal with the assets subject to that security on terms permitted under the Finance
Documents, take effect as floating security 

  
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	 	(d)	the time-barring of claims under the Limitation Acts 

  

	 	(e)	rules against penalties and similar principles and 

  

	 	(f)	any other qualifications or reservations as to matters of law only contained in the legal opinions referred to in paragraph 8 of part 1 of schedule 2 (Conditions precedent) or any other written legal opinion
obtained by the Agent or Security Agent from its legal advisers under the terms of the Finance Documents 

 Lender
means: 
  

	 	(a)	any Original Lender and 

  

	 	(b)	any bank, financial institution, trust, fund or other entity which has become a Party as a Lender in accordance with clause 2.4 (Accordion Facility) or clause 24 (Changes to the Finance Parties)

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

LIBOR means, in relation to any Loan: 
  

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

 

	 	(b)	as otherwise determined pursuant to clause 11.1 (Unavailability of Screen Rate) 

 LMA
means the Loan Market Association 
 Loan means a loan made or to be made under this Agreement or the principal amount
outstanding for the time being of that loan 
 Majority Creditors means, at any time, one or more Lenders, Bilateral Banks and
Hedging Banks whose Credit Participations at that time in aggregate are equal to or greater than 66 2⁄3% of the total Credit Participations at that time

 Majority Lenders means, at any time: 
  

	 	(a)	a Lender or Lenders whose Commitments in aggregate are equal to or greater than 66 2⁄3% of the Total Commitments at that time or

  

	 	(b)	if the Total Commitments have been reduced to zero, a Lender or Lenders whose Commitments in aggregate were equal to or greater than
66 2⁄3% of the Total Commitments immediately prior to the reduction 

Management means, at any time, in respect of the Parent at that time: 

 

	 	(a)	one director and 

  

	 	(b)	any one of the following: 

  

	 	(i)	the chief financial officer 

  
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	 	(ii)	the head of treasury or 

  

	 	(iii)	the company secretary 

 Margin means the rate per annum calculated in accordance with
clause 9.3 (Margin adjustments) 
 Margin Stock means margin stock or margin security within the meaning of
Regulations T, U and X 
 Material Adverse Effect means any effect, event or matter: 

 

	 	(a)	which is materially adverse to: 

  

	 	(i)	the assets, operations or financial condition of the Group (taken as a whole) or 

  

	 	(ii)	the ability of the Obligors (taken as a whole) to perform in a timely manner any of their material obligations (including without limitation their payment obligations and their obligations under clause
21 (Financial covenants)) under any of the Finance Documents or 

  

	 	(b)	which results in: 

  

	 	(i)	any of the rights or obligations arising under the Finance Documents not being legal, valid and binding on and (subject to the Legal Reservations) enforceable against any party thereto (other than a Finance Party)
and/or 

  

	 	(ii)	in the case of any Security Documents, not providing to the Security Agent (on behalf of itself and the other Finance Parties) perfected enforceable Security (subject to the Legal Reservations) over the assets expressed
to be secured under the Security Documents, 

 in each case to an extent or in a manner reasonably considered by the Majority
Lenders to be materially adverse to their interests under the Finance Documents 
 Material Group Company means: 

 

	 	(a)	each Obligor 

  

	 	(b)	any other Subsidiary of the Parent which is not a Joint Venture: 

  

	 	(i)	whose gross assets account for more than 5% of the consolidated gross assets of the Group or 

  

	 	(ii)	whose EBITDA (Subsidiary EBITDA) accounts for more than 5% of the EBITDA of the Group, 

and for this purpose the calculation of Subsidiary EBITDA and gross assets shall: 

 

	 	(A)	be made in accordance with U.S. GAAP 

  

	 	(B)	in the case of a company which itself has Subsidiaries, be made by using the consolidated Subsidiary EBITDA or consolidated gross assets, as the case may be, of it and its Subsidiaries and 

  
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	 	(C)	be determined by reference to: 

  

	 	1)	the latest accounts of the relevant company used for the purposes of the then latest audited annual financial statements of the Group delivered by the Parent under clause 20.1 (Financial statements) or

  

	 	2)	if the relevant company becomes a Subsidiary of the Parent after the end of the financial year to which those latest audited annual financial statements of the Group relate, the latest accounts of that Subsidiary and

  

	 	(D)	Subsidiary EBITDA shall be calculated on the same basis as EBITDA in clause 21.1 (Financial definitions) but adjusted so that references to the Group are references to the relevant Subsidiary and its Subsidiaries
or 

  

	 	(c)	any Subsidiary of the Parent to which has been transferred (whether by one transaction or a series of transactions, related or not) the whole or substantially the whole of the assets of a Subsidiary of the Parent which
immediately prior to those transactions was a Material Group Company 

 A report by the auditors of the Parent that a
Subsidiary is or is not a Material Group Company shall, in the absence of manifest error, be conclusive and binding on all Parties 

Material Insurances means all insurance policies of the Group relating to property damage and business interruption 

Minority Investment means any company or other entity in which any member of the Group has an interest from time to time and which
company or entity is not a direct or indirect Subsidiary of the Parent 
 Month means a period starting on one day in a
calendar month and ending on the numerically corresponding day in the next calendar month, except that: 
  

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

  

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

 

	 	(c)	if an Interest Period begins on the last Business Day of a calendar month, that Interest Period shall end on the last Business Day in the calendar month in which that Interest Period is to end 

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

New Commitments has the meaning given to that term in clause 2.4(a) (Accordion Facility)  

New Commitments Lender has the meaning given to that term in clause 2.4(h) (Accordion Facility)  

  
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 New U.S. Security Documents means: 

 

	 	(a)	a security agreement supplement to be entered into by Independence Oilfield and the Security Agent on or about 28 October 2016 pursuant to which Independence Oilfield grants security to the Security Agent over
substantially all of its personal property and 

  

	 	(b)	an intellectual property security agreement to be entered into by Independence Oilfield in favour of the Security Agent on or about 28 October 2016 

Non Wholly Owned Subsidiary means any direct or indirect Subsidiary of the Parent which is not a wholly owned Subsidiary of the
Parent 
 Non-Qualifying Bank Rules means the Ten Non-Qualifying Bank Rule and the Twenty Non-Qualifying Bank Rule 

Obligors means each Borrower, each Guarantor, the Obligors’ Agent and each other member of the Group which has undertaken (or in
the future undertakes) obligations to any Finance Party pursuant to any Finance Document and Obligor means any of them 

Obligors’ Agent means Innospec Finance appointed to act on behalf of each Obligor in relation to the Finance Documents pursuant to
clause 36 (Obligors’ Agent) 
 OFAC means the Office of Foreign Assets Control of the U.S. Department of Treasury

 Operating Budget means, in relation to each financial year of the Parent, a budget comprising projected balance sheet,
projected profit and loss account and projected cashflow statement (including details of projected capital expenditure) for the Group for that financial year delivered to the Agent pursuant to clause 20.4 (Operating Budget) 

Optional Currency means a currency (other than the Base Currency) which complies with the conditions set out in
clause 4.3 (Conditions relating to Optional Currencies) 
 Original Facilities Agreement means the US$150,000,000
term and revolving facilities agreement dated 6 February 2009 between, among others, Innospec Inc. and Lloyds Bank plc (as agent and security agent) 

Original Financial Statements means: 
  

	 	(a)	in relation to the Parent, the audited consolidated financial statements of the Group for the financial year ended 31 December 2014 and 

 

	 	(b)	in relation to each Original Obligor other than the Parent: 

  

	 	(i)	in connection with each U.S. Obligor, its unaudited financial statements and 

  

	 	(ii)	in connection with each other Obligor, its audited financial statements, 

 for its financial
year ended 31 December 2014 
 Original Obligor means an Original Borrower or an Original Guarantor 

Participating Member State means any member state of the European Union that has the euro as its lawful currency in accordance with
legislation of the European Union relating to Economic and Monetary Union 

  
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 Party means a party to this Agreement and includes its successors in title, permitted
assigns and permitted transferees 
 Permitted Acquisition means any acquisition falling within the provisions of clause
22.16 (Acquisitions and investments) 
 Permitted Disposal means any disposal falling within the provisions of clause
22.4(b) (Disposals) 
 Permitted Factoring and Sale and Leaseback means the sale or disposal of any: 

 

	 	(a)	asset in the ordinary course of trading on terms whereby such asset is or may be leased to or re-acquired or acquired by a Group Company or 

 

	 	(b)	receivable where: 

  

	 	(i)	the receivable has been fully written off in the accounts of the relevant Group Company in accordance with U.S. GAAP or UK GAAP (as applicable) or 

 

	 	(ii)	the consideration for such receivables is less than $10,000,000 (or its equivalent in other currencies) in aggregate outstanding at any time during the term of the Facility and such sale or disposal is without any
general right of recourse to any Obligor 

 Permitted Indebtedness has the meaning ascribed to it in clause
22.10 (Indebtedness) 
 Permitted Non-Qualifying Bank means, at any time, any person or entity who is not a Qualifying
Bank, and who would not, if that person became a Lender at that time, cause the number of Lenders who are not Qualifying Banks to exceed ten (10) 

Permitted Transaction means: 
  

	 	(a)	any transaction to which the Majority Lenders have given their prior written consent 

  

	 	(b)	any transaction arising under the Finance Documents or otherwise entered into with a Lender 

  

	 	(c)	the solvent liquidation or reorganisation of any member of the Group which is not an Obligor so long as any payments or assets distributed as a result of such liquidation or reorganisation are distributed to other
members of the Group 

  

	 	(d)	transactions entered into between Obligors or between non-Obligors or by a non-Obligor where the benefit of the transaction is in favour of an Obligor provided that the transaction does not adversely affect the
interests of such Obligor or 

  

	 	(e)	transactions (other than (i) any sale, lease, license, transfer or other disposal and (ii) the granting or creation of Security or the incurring or permitting to subsist of Financial Indebtedness) conducted in
the ordinary course of trading on arm’s length terms 

 Qualifying Bank means any entity, which effectively
conducts banking activities as principal purpose with its own infrastructure and staff and which is recognised as a bank by the banking laws in force in the jurisdiction of its incorporation as per the Guidelines 

Qualifying Lender has the meaning given to it in clause 13 (Tax gross up and indemnities)  

  
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 Quarter Date has the meaning given to it in clause 21.1 (Financial
definitions) 
 Quotation Day means, in relation to any period for which an interest rate is to be determined: 

 

	 	(a)	(if the currency is domestic sterling) the first day of that period 

  

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

  

	 	(c)	(for any other currency) two Business Days before the first day of that period 

 unless market
practice differs in the London Interbank Market for a currency, in which case the Quotation Day for that currency will be determined by the Agent in accordance with market practice in the London Interbank Market (and if quotations would normally be
given by leading banks in the London Interbank Market on more than one day, the Quotation Day will be the last of those days) 
 Receiver
means a receiver or receiver and manager or administrative receiver of the whole or any part of the Charged Property 

Recovery means any sum of money received or recovered by a Relevant Bilateral Bank on account of any amount outstanding under the
Bilateral Facility Documents to which it is a party, whether as proceeds of enforcement of security, the exercise of a right of set-off, the receipt or recovery of payment or otherwise howsoever after deducting: 

 

	 	(a)	the reasonable and proper costs and expenses (including without limitation the reasonable costs of legal advisers) incurred by that Relevant Bilateral Bank in effecting such recovery and 

 

	 	(b)	any sums required by law or court order to be paid to third parties on account of claims preferred by law over the claims of that Relevant Bilateral Bank, as the case may be 

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

	 	(a)	in relation to LIBOR: 

  

	 	(i)	(other than where paragraph (ii) below applies) as the rate at which the relevant Reference Bank could borrow funds in the London interbank market in the relevant currency and for the relevant period were it to do
so by asking for and then accepting interbank offers for deposits in reasonable market size in that currency and for that period or 

  

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

  

	 	(b)	in relation to EURIBOR: 

  

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

  

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

  
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 Reference Bank Quotation means any quotation supplied to the Agent by a Reference
Bank 
 Reference Banks means, in relation to LIBOR and EURIBOR, such banks as may be appointed by the Agent in consultation
with the Parent (subject to any such bank having agreed to act as a Reference Bank) 
 Regulations T, U and X means,
respectively, Regulations T, U and X of the Board of Governors of the Federal Reserve System of the U.S. (or any successor) as now and from time to time in effect 

Related Fund in relation to a fund (First Fund), means a fund which is managed or advised by the same investment manager or
investment adviser as the first fund or, if it is managed by a different investment manager or investment adviser, a fund whose investment manager or investment adviser is an Affiliate of the investment manager or investment adviser of the first
fund 
 Relevant Bilateral Bank means any Bilateral Bank which provides a Bilateral Facility to a Bilateral Borrower which is
not an Obligor 
 Relevant GAAP means, in relation to a company, accounting principles and practices generally accepted from
time to time in such company’s jurisdiction of incorporation 
 Relevant Period has the meaning ascribed to it in clause
21 (Financial covenants) 
 Relevant Permitted Acquisition has the meaning ascribed to it in clause 21.3 (Financial
testing) 
 Repeating Representations means each of the representations set out in clause 19 (Representations) except the
representations set out in clause 19.5 (Validity and admissibility in evidence), clause 19.6 (Governing law and enforcement), clause 19.7 (No filing or stamp taxes), and provided that clause 19.12(a) (Material Adverse Changes),
clause 19.16 (Financial Model) and clause 19.18 (Group Structure Chart) are only Repeating Representations for the purposes of the Second Restatement Date 

Representative means any delegate, agent, manager, administrator, judicial manager, nominee, attorney, trustee or custodian 

Resignation Letter means a letter substantially in the form set out in schedule 7 (Form of Resignation Letter) 

Restricted Party means a person that is: 
  

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

  

	 	(b)	located in or organised under the laws of a country or territory that is the subject of country-wide or territory-wide Sanctions, or a person who is owned or controlled by, or acting on behalf of such a person or

  

	 	(c)	otherwise a subject of Sanctions 

  
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 Restructuring Charges means any cost or expense that is, or will be, charged to the
income statement of any Group Company as a consequence of the restructuring of the Group including the restructuring into a specialty chemicals group or to further reduce the capacity of the TEL manufacturing facility at Ellesmere Port 

Rollover Loan means one or more Loans: 
  

	 	(a)	made or to be made on the same day that a maturing Loan is due to be repaid 

  

	 	(b)	the aggregate amount of which is equal to or less than the maturing Loan 

  

	 	(c)	made or to be made in the same currency as the maturing Loan (unless it arose as a result of the operation of clause 6.2 (Unavailability of a currency)) and 

 

	 	(d)	made or to be made to the same Borrower for the purpose of refinancing a maturing Loan 

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

 

	 	(a)	the Security Council of the United Nations 

  

	 	(b)	the United States of America 

  

	 	(c)	the European Union (and any of its member states) 

  

	 	(d)	the United Kingdom of Great Britain and Northern Ireland 

  

	 	(e)	Switzerland or 

  

	 	(f)	the governments and official institutions or agencies of any of paragraphs (a) to (d) above, including OFAC, the US Department of State and Her Majesty’s Treasury 

Sanctions List means the Specifically Designated Nationals and Blocked Persons list the Foreign Sanctions Evaders (FSE) list, and the
Sectoral Sanctions Identification list maintained by OFAC and the Consolidated List of Financial Sanctions Targets issued by Her Majesty’s Treasury, or any similar list maintained by, or public announcement of a Sanctions designation made by, a
Sanctions Authority, each as amended, supplemented or substituted from time to time 
 Screen Rate means: 

 

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

  

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

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

Second Amendment and Restatement Agreement means the amendment and restatement agreement dated 6 November 2015, in respect of this
Agreement 
 Second Restatement Date has the meaning given to the term in the Second Amendment and Restatement Agreement

 Secured Obligations means all obligations at any time due, owing or incurred by any Obligor or Bilateral Borrower (other than
an Obligor) to any Finance Party under the Finance Documents, whether present or future, actual or contingent (and whether incurred solely or jointly and whether as principal or surety or in some other capacity) 

Security means a mortgage, charge, pledge, lien, hypothecation, right of set-off, security trust, assignment by way of security,
reservation of title or other security interest securing any obligation of any person or any other agreement or arrangement (including, without limitation, a sale and repurchase agreement) having the commercial effect of conferring security

 Security Documents means: 
  

	 	(a)	the Debentures 

  

	 	(b)	the U.S. Security Documents 

  

	 	(c)	the Swiss Assignment Agreement 

  

	 	(d)	the Swiss Share Pledges 

  

	 	(e)	the English Share Pledge and 

  

	 	(f)	each Confirmatory Security Agreement 

 together with any other document entered into by any
member of the Group creating or expressed to create Security over all or any part of its assets in respect of the obligations of any of the Obligors under any of the Finance Documents 

Specified Time means a time determined in accordance with schedule 10 (Timetables) 

Subsidiary means: 
  

	 	(a)	a subsidiary within the meaning of section 1159 of the Companies Act 2006 or 

  

	 	(b)	a subsidiary undertaking within the meaning of section 1162 of the Companies Act 2006 or 

  

	 	(c)	whether or not falling within paragraphs (a) or (b) above, in relation to any company or corporation, a company or corporation: 

 

	 	(i)	which is controlled, directly or indirectly, by the first mentioned company or corporation 

  
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	 	(ii)	more than half the issued share capital of which is beneficially owned, directly or indirectly by the first mentioned company or corporation or 

 

	 	(iii)	which is a Subsidiary of another Subsidiary of the first mentioned company or corporation 

 and
for this purpose, a company or corporation shall be treated as being controlled by another if that other company or corporation is able to direct its affairs and/or to control the composition of its board of directors or equivalent body 

Swiss Assignment Agreement means the assignment agreement dated 14 December 2011 entered into by Alcor Chemie in favour of the
Security Agent, acting in the name and for the account of the Finance Parties 
 Swiss Obligor means an Obligor incorporated in
Switzerland and/or having its registered office in Switzerland and/or qualifying as a Swiss resident pursuant to Art. 9 of the Swiss Withholding Tax Act 

Swiss Share Pledges means: 
  

	 	(a)	the share pledge agreement dated 14 December 2011 between OBOAdler Company Limited as pledgor and the Security Agent, acting in the name and for the account of the Finance Parties, pursuant to which a share in
Alcor Chemie is pledged by way of security to the Lenders (represented by the Security Agent) 

  

	 	(b)	the share pledge agreement dated 14 December 2011 between Innospec GmbH as pledgor and the Security Agent, acting in the name and for the account of the Finance Parties, pursuant to which a share in Alcor Chemie is
pledged by way of security to the Lenders (represented by the Security Agent) and 

  

	 	(c)	the share pledge agreement dated 14 December 2011 between the Parent as pledgor and the Security Agent, acting in the name and for the account of the Finance Parties, pursuant to which all of the shares in Innospec
GmbH are pledged by way of security to the Lenders (represented by the Security Agent) 

 Swiss Withholding Tax means
the tax levied pursuant to the Swiss Federal Act on Withholding Tax (Bundesgesetz über die Verrechnungssteuer vom 13 Oktober 1965, SR 642.21) 

TARGET Day means any day on which TARGET2 is open for the settlement of payments in euro 

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

Ten Non-Qualifying Bank Rule means the rule that the aggregate number of creditors, other than Qualifying Banks, under the Finance
Documents must not exceed ten, all in accordance with the meaning of the Guidelines 
 Termination Date means the fifth
anniversary of the Second Restatement Date  

  
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 Total Commitments means the aggregate of the Commitments being $200,000,000 as at the
Second Restatement Date 
 Total Net Debt has the meaning ascribed to it in clause 21 (Financial covenants) 

Transaction Security means the Security created or expressed to be created under the Security Documents 

Transfer Certificate means for a transfer by novation, a certificate substantially in the form of part 2 of schedule 5 (Form of
Transfer Certificate) with such amendments as the Agent may approve or reasonably require or any other form agreed between the Agent and the Obligors’ Agent 

Transfer Date means, in relation to a transfer, the later of: 
  

	 	(a)	the proposed Transfer Date specified in the Transfer Certificate and 

  

	 	(b)	the date on which the Agent executes the Transfer Certificate 

 Twenty Non-Qualifying Bank
Rule means the rule that the aggregate number of creditors (including the Lenders), other than Qualifying Banks, under all outstanding debts relevant for classification as debenture (Kassenobligation) (within the meaning of the Guidelines), such
as (intragroup) loans, facilities and/or private placements (including under the Finance Documents) must not at any time exceed 20, all in accordance with the meaning of the Guidelines 

U.S. or USA means the United States of America 

U.S. Bilateral Borrower means: 
  

	 	(a)	a Bilateral Borrower formed in the U.S. or 

  

	 	(b)	a Bilateral Borrower that is not a Group Company as at the date of this Agreement and is not formed in the U.S. but is treated, for U.S. federal income tax purposes, as a fiscally transparent branch or disregarded
entity owned (directly or indirectly) by the Parent, provided that if such Bilateral Borrower is owned indirectly by the Parent, each owner of such Bilateral Borrower between the Bilateral Borrower and the Parent is similarly treated as a fiscally
transparent branch or partnership 

 U.S. Borrower means the Parent and Innospec Fuel Specialties LLC and any Additional
Borrower which is a U.S. Guarantor 
 U.S. GAAP means accounting principles and practices generally accepted from time to time in the
U.S. 
 U.S. Group Member means a member of the Group formed in the U.S. 

U.S. Guarantor means: 
  

	 	(a)	a Guarantor formed in the U.S. 

  

	 	(b)	Innospec International Limited, Innospec Developments Limited and Innospec GmbH or 

  

	 	(c)	a Guarantor that is not an Obligor as at the date of this Agreement and is not formed in the U.S. but is treated, for U.S. federal income tax purposes, as a fiscally transparent branch or partnership owned (directly or
indirectly) by the Parent, provided that if such Guarantor is owned indirectly by the Parent, each owner of such Guarantor between the Guarantor and the Parent is similarly treated as a fiscally transparent branch or partnership 

  
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 U.S. Obligor means a U.S. Borrower or a U.S. Guarantor 

U.S. Security Documents means: 
  

	 	(a)	each security agreement and pledge agreement governed by the laws of a State of the U.S.A. dated 14 September 2011 entered into by any Original Obligor in favour of the Security Agent (as each such agreement may be
supplemented from time to time) 

  

	 	(b)	a pledge agreement supplement dated on or about the date of the Second Restatement Date entered into by Innospec Oil Field Chemicals LLC in respect of the ownership interests it holds in Independence Oilfield in favour
of the Security Agent and 

  

	 	(c)	when executed, the New U.S. Security Documents 

 U.S. Tax Obligor means: 

 

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

  

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

UK GAAP means accounting principles and practices generally accepted from time to time in the United Kingdom 

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

Utilisation means a utilisation of the Facility 

Utilisation Date means the date of a Utilisation, being the date on which the relevant Loan is to be made 

Utilisation Request means a notice substantially in the form set out in schedule 4 (Form of Utilisation Request) 

VAT means: 
  

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

 

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

  
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	1.2	Construction 

  

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

  

	 	(i)	the Agent, the Arranger, the Security Agent, any Finance Party, any Lender, any Hedging Bank, any Bilateral Bank, any Obligor or any Party shall be
construed so as to include its successors in title, permitted assigns and permitted transferees to, or of its rights and/or under obligations under the Finance Documents and in the case of Security Agent, any person for the time being appointed as
Security Agent or Security Agents in accordance with the Finance Documents; 

  

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

  

	 	(iii)	a document being in the agreed form means in a form agreed between the Obligors’ Agent and the Agent; 

  

	 	(iv)	a Finance Document or any other agreement, security or instrument is a reference to that Finance Document or other agreement, security or instrument as amended, novated, supplemented, extended, replaced or
restated including any change in the purpose of, any extension of or any increase in the amount of a facility or any additional facility; 

  

	 	(v)	a group of lenders includes all the Lenders; 

  

	 	(vi)	guarantee means (other than in clause 18 (Guarantee and indemnity)) any guarantee, letter of credit, bond, indemnity or similar assurance against financial loss, or any obligation, direct or indirect, actual
or contingent, to purchase or assume any indebtedness of any person or to make an investment in or loan to any person or to purchase assets of any person where, in each case, such obligation is assumed in order to maintain or assist the ability of
such person to meet its indebtedness; 

  

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

 

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

  

	 	(ix)	an amendment includes a supplement, novation, extension (whether of maturity or otherwise), restatement, re-enactment or replacement (however fundamental and whether or not more onerous) and amended will
be construed accordingly; 

  

	 	(x)	a regulation includes any regulation, rule, official directive, request or guideline (whether or not having the force of law) of any governmental, intergovernmental or supranational body, agency, department or
regulatory, self-regulatory or other authority or organisation; 

  

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

  

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

  
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	 	(b)	Section, clause and schedule headings are for ease of reference only. 

  

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

  

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

 

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

  

	1.3	Currency symbols and definitions 

 $ and dollars denote lawful currency of
the United States of America, £ and sterling denotes lawful currency of the United Kingdom and EUR and euro means the single currency unit of the Participating Member States. 

 

	1.4	Third party rights 

  

	 	(a)	Except as provided in a Finance Document, the terms of a Finance Document may be enforced only by a party to it and the operation of the Contracts (Rights of Third Parties) Act 1999 is excluded. 

 

	 	(b)	Notwithstanding any provision of any Finance Document, the Parties to a Finance Document do not require the consent of any third party to rescind or vary any Finance Document at any time. 

 

	2	The Facilities 

  

	2.1	The Facilities 

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

	2.2	Bilateral Facilities 

  

	 	(a)	Each Bilateral Bank makes available to the relevant Group Company the Bilateral Facilities applicable to that Bilateral Bank on the terms set out in the relevant Bilateral Facility Documents. 

 

	 	(b)	Each Bilateral Bank and the relevant Obligor or, if such Group Company is not an Obligor, the Parent shall promptly notify the Agent of: 

 

	 	(i)	the establishment of any new proposed Bilateral Facility applicable to it or, in the case of notification by the Parent, its Subsidiary; and 

 

	 	(ii)	such information relating to the operation of any Bilateral Facility applicable to it (including, without limitation, the Bilateral Outstandings and Bilateral Commitments thereunder) as the Agent may from time to time
request and each Group Company hereby consents on its behalf and on behalf of its Subsidiaries to all such information being released to the Agent and each Lender. 

  
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	 	(c)	If the Agent is satisfied that any new proposed Bilateral Facility it is notified of (pursuant to clause 2.2(b)(i)) complies with the definition of Bilateral Facility in clause 1.1 (Definitions) and no breach of
clause 22.10 (Indebtedness) is likely to occur as a result of the establishment or use of the relevant proposed Bilateral Facility, it will confirm to the relevant Bilateral Bank and the relevant Group Company (and if the Group Company is not
an Obligor the Parent) that the relevant facility is a Bilateral Facility for the purposes of the Finance Documents. 

  

	 	(d)	In case of any inconsistency between any term of any Bilateral Facility and this Agreement, the terms of this Agreement shall prevail. 

 

	 	(e)	Each Bilateral Bank and the relevant Obligor or, in the case of a Group Company which is not an Obligor, the Parent on behalf of such Group Company acknowledges the terms of clause 22.10(b) (Indebtedness).

  

	2.3	Finance Parties’ rights and obligations 

  

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

  

	 	(b)	The rights of each Finance Party under or in connection with the Finance Documents are separate and independent rights and any debt arising under the Finance Documents to a Finance Party from an Obligor shall be a
separate and independent debt. 

  

	 	(c)	A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce its rights under the Finance Documents. 

 

	2.4	Accordion Facility 

  

	 	(a)	The Parent may by giving no less than 15 Business Days’ (or such other period as the Lenders may otherwise agree) and not more than 30 Business Days’ prior notice to the Agent request that the Total
Commitments be increased (New Commitments) in an aggregate amount of up to $50,000,000 (Maximum Increase Amount). 

  

	 	(b)	The Parent may, at its discretion and by giving a written notice to the existing Lenders (Increase Invitation) with a copy to the Agent, invite each of the existing Lenders to offer to increase the amount of its
existing Commitment by making available the New Commitments pro rata to their existing Commitments as at the date of the Increase Invitation (the date that the Increase Invitation is delivered to the Lenders being the Delivery Date).

  

	 	(c)	No Lender is obliged to agree to increase its Commitment following an Increase Invitation. Each Lender that agrees to increase its Commitment under an Increase Invitation (Consenting Lender) shall notify the
Parent and the Agent of its agreement by the date falling 20 Business Days (or such other period as the Lenders may otherwise agree) after the relevant Delivery Date. 

 

	 	(d)	 If a Lender does not offer to increase its Commitment in accordance with the amount requested pursuant to an Increase Invitation (that part of the
Increase in its Commitment not accepted by any Lender being the Declined New Commitments) 

  
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on or before the date falling 20 Business Days (or such other period as the Lenders may otherwise agree) after the relevant Delivery Date, the Parent may, at its discretion and by
giving a written notice to each Consenting Lender (Subsequent Increase Invitation) with a copy to the Agent, offer the Declined New Commitments to each Consenting Lender pro rata to their existing Commitment as at the date of the Increase
Invitation) (the date that the Subsequent Increase Invitation is delivered to the Lenders being the Subsequent Delivery Date).  

  

	 	(e)	No Consenting Lender is obliged to agree to increase its Commitment following a Subsequent Increase Invitation. Each Consenting Lender that agrees to increase its Commitment under a Subsequent Increase Invitation
(Subsequent Consenting Lender) shall notify the Parent and the Agent of its agreement by the date falling 10 Business Days after the Subsequent Delivery Date. If the increase in Commitments of the Subsequent Consenting Lenders pursuant to any
Subsequent Increase Invitation is, in aggregate, greater than the Declined New Commitments, the Commitment of each Subsequent Consenting Lender will be increased by the proportion of the Declined New Commitments which is the same proportion as its
Commitment bears to the Total Commitments (excluding from the Total Commitments the Commitment of any Lenders that are not Consenting Lenders under the relevant Increase Invitation), in each case, immediately prior to the issuance of the relevant
Increase Invitation. 

  

	 	(f)	If, after the expiry of the period referred to in clause 2.4(e), any of the Declined New Commitments are not accepted by a Lender (the amount of the Declined New Commitments not being made available by any Lender being
the New Commitments Shortfall), then the Parent may offer the opportunity to make available New Commitments in an amount not exceeding the New Commitments Shortfall to any bank, financial institution, trust, fund or other entity which is
regularly engaged in, or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (which is not a member of the Group and is not a Lender). 

 

	 	(g)	The terms applicable to the New Commitments shall be as set out in this Agreement. 

  

	 	(h)	No later than the date falling 25 Business Days after the later of the relevant Delivery Date and the relevant Subsequent Delivery Date, the Parent shall by notice to the relevant Consenting Lenders, Subsequent
Consenting Lenders (if any) and any person who wishes to make available any of the New Commitments Shortfall and is not a Lender (New Commitments Lender) (if any) (together the Accordion Lenders), with a copy to the Agent, advise:

  

	 	(i)	whether the Parent has accepted the offer of those Accordion Lenders to increase the amount of their Commitment; 

  

	 	(ii)	the aggregate amount by which the Total Commitments will be increased (Aggregate Additional Commitments); and 

  

	 	(iii)	the amount of each Accordion Lender’s share of the Aggregate Additional Commitments (Relevant Additional Commitment). 

  
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	 	(i)	Subject to the conditions precedent set out in paragraph 2.4(j) and 2.4(k) below being satisfied, on (i) the last day of the shortest Interest Period in which those conditions precedent are satisfied or
(ii) such earlier date as may be agreed between the Parent, the Accordion Lenders and the Agent (Increase Date): 

  

	 	(i)	each of the Obligors and any New Commitments Lender shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the New Commitments Lender would have assumed and/or
acquired had the New Commitments Lender been an Original Lender; 

  

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

  

	 	(A)	the Total Commitments will be increased by the amount of the Aggregate Additional Commitments; 

  

	 	(B)	the Commitment of each Accordion Lender will be increased by the amount of its Relevant Additional Commitment; and 

  

	 	(C)	the Commitments of the other Lenders shall continue in full force and effect; and 

  

	 	(iii)	in respect of any new Loans made available on the Increase Date, each Lender’s participation in each Loan will be equal to the proportion borne by its Commitment (as increased in accordance with clause
2.4(i)(ii)(B)) to the Total Commitments (as so increased). 

  

	 	(j)	An increase in the Total Commitments will only be effective: 

  

	 	(i)	on the execution by the Agent of an Increase Confirmation from each Accordion Lender for the purpose of that increase; 

  

	 	(ii)	in relation to a New Commitments Lender: 

  

	 	(A)	the performance by the Agent of all necessary “know your customer” or other similar checks under applicable laws and regulations in relation to the assumption of the increased Commitments by the New
Commitments Lender, the completion of which the Agent shall promptly notify to the Parent and the New Commitments Lender; 

  

	 	(B)	such New Commitments Lender has acceded to this Agreement by delivering a duly completed and executed Increase Confirmation to the Agent; and 

 

	 	(C)	the arrangement fees to be applied by that New Commitments Lender to the New Commitments Shortfall to be made available by it shall not exceed those agreed by or offered to the existing Lenders with respect to the New
Commitments (except as otherwise agreed by the Parent and the existing Lenders); 

  

	 	(iii)	upon each Accordion Lender obtaining credit committee approval (if required); 

  

	 	(iv)	provided the aggregate of the Aggregate Additional Commitments and any increase in the Total Commitments which has come into effect before the relevant Increase Date do not exceed the Maximum Increase Amount;

  
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	 	(v)	on the date on which the increase takes effect, payment by the New Commitments Lender (if there is one) to the Agent (for its own account) of a fee in an amount equal to the fee which would be payable under clause 24.4
(Assignment or transfer fee) if the increase in Commitments was a transfer under clause 24.1 (Assignments and transfers by the Lenders) and if the New Commitments Lender was a New Lender; and 

 

	 	(vi)	if the Agent confirms to the Parent and the Lenders that it has received the following in form and substance satisfactory to it (acting on the instructions of the Majority Lenders) on or before the date falling 10
Business Days after the date the Parent has notified the relevant Accordion Lenders that it accepts the offer to increase Commitments and the amount of those Commitments, in accordance with clause 2.4(h) respectively: 

 

	 	(A)	any acquisition documents relating to a Permitted Acquisition if the relevant increase in the Commitments is requested for the purpose of an acquisition; 

 

	 	(B)	evidence, including a director’s certificate from the Parent confirming, that, if it would be required following the relevant Permitted Acquisition, any corporate entity to be acquired will become an Additional
Guarantor in accordance with the terms of this Agreement within three months of completion of the applicable Permitted Acquisition; and 

  

	 	(C)	(if the Agent (acting on the instructions of the Majority Lenders) so requires, any relevant legal or other due diligence in respect of the relevant Permitted Acquisition. 

 

	 	(k)	The Parent may not seek to increase the Total Commitments or exercise any of its rights under this clause 2.4 (Accordion Facility) at any time when a Default is continuing. 

 

	 	(l)	Only two increases in the Total Commitments are permitted. 

  

	 	(m)	Each Party shall co-operate to ensure that, on and following the Increase Date, the proportion of the aggregate amount of all Loans which each Lender holds is the same as the proportion which the Commitment of each
Lender at such time bears to the Total Commitments. 

  

	 	(n)	The Parent must pay to each Accordion Lender for the relevant increase in Total Commitments a fee in the amount and at the times agreed between the Parent and the Agent in a Fee Letter. A reference in this Agreement to
a Fee Letter shall include any letter referred to in this paragraph. 

  

	 	(o)	Clause 24.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this clause 2.4 in relation to a New Commitments Lender as if references in that clause to: 

 

	 	(i)	an Existing Lender were references to all the Lenders immediately prior to the relevant increase; 

  

	 	(ii)	the New Lender were references to the New Commitments Lender; and 

  

	 	(iii)	a re-transfer and re-assignment were references to respectively a transfer and assignment. 

  
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	 	(p)	The Agent shall notify all Parties of: 

  

	 	(i)	the Increase Date; 

  

	 	(ii)	the amount of the New Commitments being made available by each Lender; and 

  

	 	(iii)	the identity of any New Commitments Lender. 

  

	 	(q)	The Agent is authorised and instructed to enter into such documentation as is reasonably required to amend this Agreement and any other Finance Document (in accordance with the terms of this clause 2.4) to reflect the
terms of any increase in Commitments in accordance with this clause 2.4 without the consent of any Lender other than the applicable Accordion Lender. 

  

	3	Purpose 

  

	3.1	Purpose 

 Each Borrower shall apply all amounts borrowed by it under the Facility in or
towards: 
  

	 	(a)	refinancing existing indebtedness of the Group and the payment of any fees or expenses, legal or otherwise, incurred in connection with such refinancing; 

 

	 	(b)	funding Permitted Acquisitions (including refinancing any indebtedness of any relevant acquired company or business or any subsidiary thereof and costs, fees and expenses incurred in relation thereto); and

  

	 	(c)	the general corporate and working capital purposes of the Group including funding capital expenditure and share buy backs. 

  

	3.2	Monitoring 

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

	4	Conditions of Utilisation 

  

	4.1	Initial conditions precedent 

 No Borrower may deliver a Utilisation Request unless the
Agent has received all of the documents and other evidence listed in part 1 of schedule 2 (Conditions precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Obligors’ Agent and the Lenders promptly upon
being so satisfied. 

  
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	4.2	Further conditions precedent 

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

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

  

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

  

	4.3	Conditions relating to Optional Currencies 

  

	 	(a)	A currency will constitute an Optional Currency in relation to a Loan if it is sterling or euro or (in the case of any other currency) if: 

 

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

 

	 	(ii)	it has been approved by the Agent (acting on the instructions of all the Lenders) on or prior to receipt by the Agent of the relevant Utilisation Request for that Loan. 

 

	 	(b)	If the Agent has received a written request from the Obligors’ Agent for a currency to be approved under paragraph (a)(ii) above, the Agent will confirm to the Obligors’ Agent by the Specified Time:

  

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

  

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

 

	4.4	Maximum number of Loans and Optional Currencies 

  

	 	(a)	A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation: 

  

	 	(i)	more than 15 Loans would be outstanding; or 

  

	 	(ii)	the Loans would be outstanding in more than three currencies. 

  

	 	(b)	Any Loan made by a single Lender under clause 6.2 (Unavailability of a currency) shall not be taken into account in this clause 4.4. 

 

	5	Utilisation 

  

	5.1	Delivery of a Utilisation Request 

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

  
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	5.2	Completion of a Utilisation Request 

  

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

  

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

  

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

  

	 	(iii)	the proposed Interest Period complies with clause 10 (Interest Periods). 

  

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

  

	5.3	Currency and amount 

  

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

  

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

  

	 	(i)	if the currency selected is the Base Currency, a minimum of $1,000,000 or, if less, the Available Facility; 

  

	 	(ii)	if the currency selected is sterling or euro, a minimum of £1,000,000 or €1,000,000 or, if less, the Available Facility; or 

 

	 	(iii)	if the currency selected is an Optional Currency other than sterling or euro, the minimum amount (or an integral multiple, if required) specified by the Agent pursuant to clause 4.3(b)(ii) (Conditions relating to
Optional Currencies) or, if less, the Available Facility. 

  

	5.4	Lenders’ participation 

  

	 	(a)	If the conditions set out in this Agreement have been met, each Lender shall make its participation in each Loan available by the Utilisation Date through its Facility Office. 

 

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

 

	 	(c)	The Agent shall determine the Base Currency Amount of each Loan which is to be made in an Optional Currency and shall notify each Lender of the amount, currency and the Base Currency Amount of each Loan and the amount
of its participation in that Loan, in each case by the Specified Time. 

  

	5.5	Cancellation of Commitment 

 The Total Commitments shall be immediately cancelled at the
end of the Availability Period. 

  
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	6	Optional currencies 

  

	6.1	Selection of currency 

 A Borrower (or the Obligors’ Agent on behalf of a Borrower)
shall select the currency of a Loan in a Utilisation Request. 
  

	6.2	Unavailability of a currency 

 If before the Specified Time on any Quotation Day: 

 

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

 

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

the Agent will give notice to the relevant Borrower to that effect by the Specified Time on that day. In this event, any Lender that gives
notice pursuant to this clause 6.2 will be required to participate in the Loan in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount, or in respect of a Rollover Loan, an amount equal to that
Lender’s proportion of the Base Currency Amount of the maturing Loan that is due to be repaid) and its participation will be treated as a separate Loan denominated in the Base Currency during that Interest Period. 

 

	6.3	Agent’s calculations 

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

	7	Repayment 

  

	 	(a)	Subject to clause 7(b), each Borrower which has drawn a Loan shall repay that Loan on the last day of its Interest Period. 

  

	 	(b)	Without prejudice to each Borrower’s obligation under paragraph (a) above, if one or more Loans are to be made available to a Borrower: 

 

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

  

	 	(ii)	in the same currency as the maturing Loan (unless it arose as a result of the operation of clause 6.2 (Unavailability of a currency)); and 

 

	 	(iii)	for the purpose of refinancing the maturing Loan, 

 the Agent will apply the new Loans in or
towards repayment of the maturing Loan so that: 
  

	 	(A)	if the amount of the maturing Loan exceeds the aggregate amount of the new Loans, the relevant Borrower will only be required to pay an amount in cash in the relevant currency equal to that excess; and

  

	 	(B)	if the amount of the maturing Loan is equal to or less than the aggregate amount of the new Loans, the relevant Borrower will not be required to make any payment in cash. 

  
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	8	Prepayment and cancellation 

  

	8.1	Illegality 

 If it becomes unlawful in any applicable jurisdiction for a Lender to
perform any of its obligations as contemplated by this Agreement or to fund, issue or maintain its participation in any Loan: 
  

	 	(a)	that Lender shall promptly notify the Agent upon becoming aware of that event; 

  

	 	(b)	upon the Agent notifying the Obligors’ Agent, the Available Commitment of that Lender will be immediately cancelled; and 

  

	 	(c)	to the extent that the Lender’s participation has not been transferred pursuant to clause 8.6(d), each Borrower shall repay that Lender’s participation in the Loans made to that Borrower on the last day of the
Interest Period for each Loan occurring after the Agent has notified the Obligors’ Agent or, if earlier, the date specified by the Lender in the notice delivered to the Agent (being no earlier than the last day of any applicable grace period
permitted by law) and that Lender’s corresponding Commitment(s) shall be cancelled in the amount of the participations repaid. 

  

	8.2	Change of control 

  

	 	(a)	If any person or group of persons acting in concert gains control of the Parent (a Change of Control): 

  

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

  

	 	(ii)	a Lender shall not be obliged to fund a Utilisation (except for a Rollover Loan); 

  

	 	(iii)	if the Parent so requires, the Parties shall enter into good faith consultations with a view to determining whether and on what terms the Facilities can continue to remain outstanding and be provided; 

 

	 	(iv)	if no agreement between the Lenders and the Parent is reached within 30 days of the Change of Control occurring as to the terms on which the Facilities can continue to remain outstanding and be provided and if a Lender
so requires, the Agent shall cancel that Lender’s Commitment under the Facilities and declare that Lender’s participation in the outstanding Loans, together with accrued interest, and all other amounts accrued under the Finance Documents
owing to that Lender immediately due and payable, whereupon that Lender’s Commitment under the Facilities will be cancelled and all such outstanding amounts owing to that Lender will become immediately due and payable. 

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

  

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

  

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

 

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

  

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

 

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

  

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

  

	8.3	Disposals 

 Upon the occurrence of the disposal of all or substantially all of the assets
of the Group (whether in a single transaction or a series of related transactions) all of the Commitments shall immediately be cancelled and all outstanding loans, together with all accrued interest and all other amounts accrued or outstanding under
the facility shall become immediately due and payable. 
  

	8.4	Voluntary cancellation 

 The Parent may, if it gives the Agent not less than five
Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, cancel the whole or any part (being a minimum amount of $5,000,000 and in integral multiples of $2,500,000) of the Available Facility without premium or
penalty. Any cancellation under this clause shall reduce the Commitments of the Lenders rateably. 
  

	8.5	Voluntary prepayment 

 The Borrower to which a Loan has been made may, if it gives the
Agent not less than five Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of such Loan (but if in part, being an amount that reduces the Base Currency Amount of the Loan by a
minimum amount of $1,000,000 and in integral multiples of $500,000). 

  
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	8.6	Right of repayment and cancellation in relation to a single Lender 

  

	 	(a)	If: 

  

	 	(i)	any sum payable to any Lender by an Obligor is required to be increased under clause 13.2(c) (Tax gross-up); or 

  

	 	(ii)	any Lender claims indemnification from the Obligors’ Agent under clause 13.3 (Tax indemnity) or clause 14.1 (Increased costs), 

the Parent may, whilst (in the case of clause 8.6(a)(i) and 8.6(a)(ii)) the circumstance giving rise to the requirement or indemnification
continues give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Loans. 
  

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

  

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

  

	 	(d)	If: 

  

	 	(i)	any of the circumstances set out in clause 8.6(a) apply to a Lender; or 

  

	 	(ii)	an Obligor becomes obliged to pay any amount in accordance with clause 8.1 to any Lender, 

the Parent may on 10 Business Days’ prior notice to the Agent and that Lender, replace that Lender by requiring that Lender to (and, to
the extent permitted by law, that Lender shall) transfer pursuant to clause 24 (Changes to the Finance Parties) all (and not part only) of its rights and obligations under this Agreement to a Lender or other bank, financial institution, trust, fund
or other entity selected by the Parent which confirms its willingness to assume and does assume all the obligations of the transferring Lender in accordance with clause 24 (Changes to the Finance Parties) for a purchase price in cash payable at the
time of the transfer in an amount equal to the outstanding principal amount of such Lender’s participation in the outstanding Loans and all accrued interest, Break Costs and other amounts payable in relation thereto under the Finance Documents.

  

	 	(e)	The replacement of a Lender pursuant to clause 8.6(d) shall be subject to the following conditions: 

  

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

  

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

  

	 	(iii)	in no event shall the Lender replaced under clause 8.6(d) be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents; and 

 

	 	(iv)	the Lender shall only be obliged to transfer its rights and obligations pursuant to clause 8.6(d) once it is satisfied that it has complied with all necessary “know your customer” or other similar checks under
all applicable laws and regulations in relation to that transfer. 

  

	 	(f)	A Lender shall perform the checks described in clause 8.6(e)(iv) above as soon as reasonably practicable following delivery of a notice referred to in clause 8.6(d) above and shall notify the Agent and the Parent when
it is satisfied that it has complied with those checks. 

  
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	8.7	[Intentionally blank] 

  

	8.8	Restrictions 

  

	 	(a)	Any notice of cancellation or prepayment given by any Party under this clause 8 shall be irrevocable and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant
cancellation or prepayment is to be made and the amount of that cancellation or prepayment. 

  

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

 

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

 

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

 

	 	(e)	No amount of the Total Commitments cancelled under this Agreement may be subsequently reinstated. 

  

	 	(f)	If the Agent receives a notice under this clause 8 it shall promptly forward a copy of that notice to either the Parent or the affected Lender, as appropriate. 

 

	9	Interest 

  

	9.1	Calculation of interest 

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

	 	(a)	Margin; and 

  

	 	(b)	in the case of a Loan: 

  

	 	(i)	(other than a Loan in euro), LIBOR; and 

  

	 	(ii)	in euro, EURIBOR. 

  

	9.2	Payment of interest 

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

  
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	9.3	Margin adjustments 

  

	 	(a)	In this clause: 

 Total Net Debt and EBITDA have the meanings given to them in
clause 21.1 (Financial definitions). 
  

	 	(b)	The initial Margin is 1.20% per annum. 

  

	 	(c)	The Margin will be calculated by reference to the table below and the information set out in the relevant Compliance Certificate: 

  

					
	 Column 1 Ratio of Total Net Debt to EBITDA
	  	Column 2 Margin (% per
annum)	 
	 Greater than 2.50:1
	  	 	2.45	  
	 Less than or equal to 2.50:1 and greater than 2.00:1
	  	 	1.95	  
	 Less than or equal to 2.00:1 and greater than 1.5:1
	  	 	1.70	  
	 Less than or equal to 1.5:1 and greater than 1:1
	  	 	1.45	  
	 Less than or equal to 1:1
	  	 	1.20	  

  

	 	(d)	Any change in the Margin will, subject to paragraphs (e) and (f) below, apply to each Loan on the date that is five Business Days after the date of receipt by the Agent of the relevant Compliance Certificate
or, if the relevant Compliance Certificate is not delivered on time, on the last date on which that Compliance Certificate should have been delivered in accordance with this Agreement. 

 

	 	(e)	For so long as, an Event of Default is outstanding or a Compliance Certificate relating to financial statements for a Relevant Period has not been delivered by the Parent within the applicable period and remains
outstanding, the Margin will be the highest applicable rate, being 2.45% per annum. 

  

	 	(f)	If the Margin has been calculated on the basis of a Compliance Certificate but would have been higher if it had been based on the subsequent financial statements of the Group the Margin will instead be calculated by
reference to the subsequent financial statements of the Group. If, in this event, any amount of interest has been paid by a Borrower on the basis of the Compliance Certificate, that Borrower must immediately on demand pay to the Agent any shortfall
in the amount which would have been paid to the Lenders if the Margin had been calculated by reference to the subsequent financial statements. 

  

	9.4	Default interest 

  

	 	(a)	If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after
judgment), subject to paragraph (b) below, at a rate 1% higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive
Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this clause 9.4 shall be immediately payable by the Obligor on demand by the Agent (acting on the instructions of the Majority Lenders).

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

 

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

 

	 	(ii)	the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1% and the rate which would have applied if the overdue amount had not become due. 

 

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

  

	9.5	Notification of rates of interest 

  

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

 

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

  

	9.6	Minimum interest 

  

	 	(a)	The rates of interest provided for in this Agreement, including, without limitation this clause 9, are minimum interest rates. 

  

	 	(b)	When entering into this Agreement, the Parties have assumed that the interest payable at the rates set out in this clause 9 or in other clauses of this Agreement is not and will not become subject to Swiss Withholding
Tax. Notwithstanding that the Parties do not anticipate that any payment of interest will be subject to Swiss Withholding Tax, they agree that, in the event that Swiss Withholding Tax should be imposed on interest payments by a Swiss Obligor and if
a gross-up payment under clause 13.2 (Tax gross-up) is unenforceable for any reason (where such payment would otherwise be required by the terms of clause 13.2 (Tax gross-up)), then the payment of interest due by such Swiss Obligor shall be
increased to an amount which (after making any deduction of the Non-refundable Portion (as defined below) of Swiss Withholding Tax) results in a payment to each Lender entitled to such payment of an amount equal to the payment which would have been
due had no deduction of Swiss Withholding Tax been required. For this purpose, the Swiss Withholding Tax shall be calculated on the full grossed-up interest amount. 

 

	 	(c)	For the purposes of this clause 9.6, Non-refundable Portion of Swiss Withholding Tax shall mean Swiss Withholding Tax at the standard rate (being, as at the date hereof, 35%) unless a tax ruling issued by the
Swiss Federal Tax Administration confirms that, in relation to a specific Lender based on an applicable double tax treaty, the non-refundable portion is a specified lower rate in which case such lower rate shall be applied in relation to such
Lender. 

  

	 	(d)	If requested by a Lender, the relevant Swiss Obligor shall provide to the Agent the documents required by law or applicable double taxation treaties for the Lenders to prepare claims for the refund of any Swiss
Withholding Tax so deducted. 

  
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	10	Interest Periods 

  

	10.1	Selection of Interest Periods 

  

	 	(a)	A Borrower (or the Obligors’ Agent on behalf of a Borrower) must select the Interest Period for a Loan in the Utilisation Request for that Loan. 

 

	 	(b)	Subject to this clause 10, a Borrower (or the Obligors’ Agent) may select an Interest Period of one, three or six Months or any other period agreed between the Obligors’ Agent and the Agent (acting on the
instructions of all the Lenders). 

  

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

  

	 	(d)	A Loan has one Interest Period only. 

  

	10.2	Non-Business Days 

 If an Interest Period would otherwise end on a day which is not a
Business Day, that Interest Period will instead end on the next Business Day in that calendar month (if there is one) or the preceding Business Day (if there is not). 
  

	11	Changes to the calculation of interest 

  

	11.1	Unavailability of Screen Rate 

  

	 	(a)	Interpolated Screen Rate: If no Screen Rate is available for LIBOR or, if applicable, EURIBOR for the Interest Period of a Loan, the applicable LIBOR or EURIBOR shall be the Interpolated Screen Rate for a period
equal in length to the Interest Period of that Loan. 

  

	 	(b)	Reference Bank Rate / Cost of funds: If no Screen Rate is available for LIBOR or, if applicable, EURIBOR for: 

  

	 	(i)	the currency of a Loan; or 

  

	 	(ii)	the Interest Period of a Loan and it is not possible to calculate the Interpolated Screen Rate, 

the applicable LIBOR or EURIBOR shall be the Reference Bank Rate as of the Specified Time for the currency of that Loan and for a period equal
in length to the Interest Period of that Loan. 
  

	 	(c)	Cost of funds: If clause 11.1(b) applies but no Reference Bank Rate is available for the relevant currency or Interest Period there shall be no LIBOR or EURIBOR for that Loan and clause 11.4 shall apply to that
Loan for that Interest Period. 

  

	11.2	Calculation of Reference Bank Rate 

  

	 	(a)	Subject to clause 11.2(b), if LIBOR or EURIBOR is to be determined on the basis of a Reference Bank Rate but a Reference Bank does not supply a quotation by the Specified Time, the Reference Bank Rate shall be
calculated on the basis of the quotations of the remaining Reference Banks. 

  

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

  
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	11.3	Market disruption 

 If before close of business in London on the Quotation Day for the
relevant Interest Period, the Agent receives notifications from a Lender or Lenders (whose participations in a Loan exceed 35% of that Loan) that the cost to it of funding its participation in that Loan from the wholesale market for the relevant
currency would be in excess of LIBOR or, if applicable, EURIBOR then clause 11.4 shall apply to that Loan for the relevant Interest Period. 
  

	11.4	Cost of funds 

  

	 	(a)	If this clause 11.4 applies, the rate of interest on the relevant Lender’s share of the relevant Loan for the relevant Interest Period shall be the percentage rate per annum which is the sum of: 

 

	 	(i)	the Margin; and 

  

	 	(ii)	the rate notified to the Agent by that Lender as soon as practicable and in any event within 2 Business Days of the first day of that Interest Period (or, if earlier, on the date falling 5 Business Days before the date
on which interest is due to be paid in respect of that Interest Period) to be that which expresses as a percentage rate per annum the cost to the relevant Lender of funding its participation in that Loan from whatever source it may reasonably
select. 

  

	 	(b)	If this clause 11.4 applies and the Agent or the Parent so requires, the Agent and the Parent shall enter into negotiations (for a period of not more than 30 days) with a view to agreeing a substitute basis for
determining the rate of interest. 

  

	 	(c)	Any alternative basis agreed pursuant to clause 11.4(b) shall, with the prior consent of all the Lenders and the Parent, be binding on all Parties. 

 

	 	(d)	If this clause 11.4 applies but any Lender does not supply a quotation by the time specified in clause 11.4(a)(ii) the rate of interest shall be calculated on the basis of the quotations of the remaining Lenders.

  

	11.5	Notification to Parent 

 If clause 11.4 applies the Agent shall, as soon as is
practicable, notify the Parent. 
  

	11.6	Alternative basis of interest or funding 

  

	 	(a)	If a Market Disruption Event occurs and the Agent or the Obligors’ Agent so requires, the Agent and the Obligors’ Agent shall enter into negotiations (for a period of not more than 30 days) with a view to
agreeing a substitute basis for determining the rate of interest. 

  

	 	(b)	Any alternative basis agreed pursuant to paragraph (a) above shall, with the prior consent of all the Lenders and the Obligors’ Agent, be binding on all Parties. 

  
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	11.7	Break Costs 

  

	 	(a)	Each Borrower shall, within three Business Days of demand by a Finance Party, pay to that Finance Party its Break Costs attributable to all or any part of a Loan or Unpaid Sum being paid by that Borrower on a day other
than the last day of an Interest Period for that Loan or Unpaid Sum. 

  

	 	(b)	Each Lender shall, as soon as reasonably practicable after a demand by the Agent, provide a certificate confirming the amount and basis of calculation of its Break Costs for any Interest Period in which they accrue.

  

	12	Fees 

  

	12.1	Commitment fee 

  

	 	(a)	The Borrowers must pay to the Agent (for the account of each Lender) a fee in the Base Currency computed at the percentage rate per annum equal to 35% of the Margin applicable on that Lender’s Available Commitment
for the Availability Period. 

  

	 	(b)	Accrued commitment fee is payable on the last day of each successive period of three Months which ends during the relevant Availability Period, on the last day of the relevant Availability Period and, if cancelled in
full, on the cancelled amount of the relevant Lender’s Commitment at the time the cancellation is effective. 

  

	12.2	Arrangement fee 

 The Borrowers shall pay to the Arranger an arrangement fee in the
amount and at the time agreed in a Fee Letter. 
  

	12.3	Agency fees 

 The Borrowers shall pay to the Agent (for its own account) an agency fee
and to the Security Agent (for its own account) a security agency fee in the amounts and at the times agreed in a Fee Letter. 
  

	12.4	Document Co-ordination Fee 

 The Borrowers shall pay to the Document Co-ordinator (for
its own account) a document coordinator fee in the amount and at the time agreed in a Fee Letter. 
  

	13	Tax gross up and indemnities 

  

	13.1	Definitions 

  

	 	(a)	In this Agreement: 

 Borrower DTTP Filing means an HM Revenue & Customs’
Form DTTP2 duly completed and filed by the relevant Borrower, which: 
  

	 	(i)	where it relates to a Treaty Lender that is an Original Lender, contains the scheme reference number and jurisdiction of tax residence stated opposite that Lender’s name in part 2 (The Original Lenders) of
schedule 1 and 

  

	 	(A)	where the Borrower is an Original Borrower, is filed with HM Revenue & Customs within 30 days of the date of this Agreement 

 

	 	(B)	where the Borrower is an Additional Borrower, is filed with HM Revenue & Customs within 30 days of the date on which that Borrower becomes an Additional Borrower or 

  
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	 	(ii)	where it relates to a Treaty Lender that is a New Lender or an Increase Lender, contains the scheme reference number and jurisdiction of tax residence stated in respect of that Lender in the relevant Transfer
Certificate or Assignment Agreement or Increase Confirmation, and 

  

	 	(A)	where the Borrower is a Borrower as at the relevant Transfer Date (or date on which the increase in Commitments described in the relevant Increase Confirmation takes effect), is filed with HM Revenue & Customs
within 30 days of that Transfer Date (or date on which the increase in Commitments described in the relevant Increase Confirmation takes effect) or 

  

	 	(B)	where the Borrower is not a Borrower as at the relevant Transfer Date (or date on which the Increase in Commitments described in the relevant Increase Confirmation takes effect), is filed with HM Revenue &
Customs within 30 days of the date on which that Borrower becomes an Additional Borrower 

 Protected Party means a
Finance Party which is or will be subject to any liability, or required to make any payment, for or on account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a
Finance Document 
 Qualifying Lender means: 
  

	 	(i)	in respect of a payment made by an Obligor incorporated in the United Kingdom, a Lender which is beneficially entitled to interest payable to that Lender in respect of an advance under a Finance Document and is:

  

	 	(A)	a Lender: 

  

	 	1)	which is a bank (as defined for the purpose of section 879 of the ITA) making an advance under a Finance Document and is within the charge to United Kingdom corporation tax as respects any payments of interest made in
respect of that advance or would be within such charge as respects such payments apart from section 18A of the CTA or 

  

	 	2)	in respect of an advance made under a Finance Document by a person that was a bank (as defined for the purpose of section 879 of the ITA) at the time that that advance was made and within the charge to United Kingdom
corporation tax as respects any payments of interest made in respect of that advance or a Lender which is: 

  

	 	(B)	a Lender which is: 

  

	 	1)	a company resident in the United Kingdom for United Kingdom tax purposes 

  
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	 	2)	a partnership each member of which is: 

  

	 	a)	a company so resident in the United Kingdom or 

  

	 	b)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of
section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA 

  

	 	3)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the
chargeable profits (within the meaning of section 19 of the CTA) of that company or 

  

	 	(C)	a Treaty Lender or 

  

	 	(ii)	in respect of a payment that is treated under the Internal Revenue Code as U.S. source interest in connection with this Agreement, a Lender which is: 

 

	 	(A)	a U.S. person within the meaning of section 7701(a)(30) of the Internal Revenue Code, provided such Lender timely has delivered to the Agent for transmission to the Obligor making such payment two original copies of IRS
Form W-9 (or any successor form) either directly or under cover of IRS Form W-8IMY (or any successor form) certifying its status as a “U.S. person”; 

  

	 	(B)	a Treaty Lender with respect to the United States of America that is entitled to receive payments under the Finance Documents without deduction or withholding of any U.S. federal income Taxes, provided such Lender
timely has delivered to the Agent for transmission to the Obligor making such payment two original copies of IRS Form W-8BEN-E (or any successor form) either directly or under cover of IRS Form W-8IMY (or any successor form) certifying its
entitlement to receive such payments without any such deduction or withholding under a double taxation treaty; 

  

	 	(C)	 entitled to receive such payments without deduction or withholding of any U.S. federal income Taxes under the “portfolio interest” exemption
under section 881(c) of the Internal Revenue Code, provided such Lender timely has delivered to the Agent for transmission to the Obligor making such payment two original copies of IRS Form W-8BEN-E (or any successor form), as applicable, either
directly or under cover of IRS Form W-8IMY (or any successor form) claiming exemption from withholding in respect of such payments under the portfolio interest exemption, along with a statement validly certifying that such Lender (A) is not a
“bank” for purposes of section 881(c)(3)(A) of the Internal Revenue Code, (B) is not a “10 percent shareholder” of the relevant Obligor within the 

  
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meaning of section 881(c)(3)(B) of the Internal Revenue Code and (C) is not a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Internal Revenue Code
with respect to which the relevant Obligor is a “United States shareholder”; or 

  

	 	(D)	otherwise entitled to receive payments under the Finance Documents without deduction or withholding of any U.S. federal income Taxes either as a result of such payments being effectively connected with the conduct by
such Lender of a trade or business within the U.S. or under another applicable exemption, provided such Lender timely has delivered to the Agent for transmission to the Obligor making such payment two original copies of either (1) IRS Form W
8ECI (or any successor form) either directly or under cover of IRS Form W-8IMY (or any successor form) certifying that the payments made pursuant to the Finance Documents are effectively connected with the conduct by that Lender of a trade or
business within the U.S. or (2) such other applicable form prescribed by the IRS certifying as to such Lender’s entitlement to exemption from U.S. withholding tax with respect to all payments to be made to such Lender under the Finance
Documents, 

 provided, however, that no Lender shall cease to be a Qualifying Lender under this paragraph (ii) by reason
or any deduction or withholding that is imposed under FATCA; or 
  

	 	(iii)	in respect of a payment by an Obligor incorporated other than in the United Kingdom or the United States of America, any Lender. 

Tax Confirmation means a confirmation by a Lender that the person beneficially entitled to interest payable to that Lender in respect
of an advance under a Finance Document is either: 
  

	 	(i)	a company resident in the United Kingdom for United Kingdom tax purposes 

  

	 	(ii)	a partnership each member of which is: 

  

	 	(A)	a company so resident in the United Kingdom or 

  

	 	(B)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of
section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA or 

  

	 	(iii)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the
chargeable profits (within the meaning of section 19 of the CTA) of that company 

 Tax Credit means a credit against,
relief or remission for, or repayment of any Tax 

  
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 Tax Deduction means a deduction or withholding for or on account of Tax from a
payment under a Finance Document, other than a FATCA Deduction 
 Tax Payment means either the increase in a payment made by an
Obligor to a Finance Party under clause 13.2 or a payment under clause 13.3 
 Treaty Lender means, in respect of a jurisdiction, a
Lender entitled under the provisions of a double taxation treaty to receive payments of interest from a person resident in such jurisdiction without a Tax Deduction (subject to the completion of any necessary procedural formalities) 

Treaty State means a jurisdiction having a double taxation agreement (Treaty) with the United Kingdom which makes provision for full
exemption from tax imposed by the United Kingdom on interest 
 UK Non-Bank Lender means where a Lender becomes a Party after the day
on which this Agreement is entered into, a Lender which gives a Tax Confirmation in the Assignment Agreement or Transfer Certificate which it executes on becoming a Party. 
  

	 	(b)	Unless a contrary indication appears, in this clause 13 a reference to “determines” or “determined” means a determination made in the absolute discretion of the person making the determination.

  

	13.2	Tax gross-up 

  

	 	(a)	Each Obligor shall make all payments to be made by it under any Finance Document without any Tax Deduction, unless a Tax Deduction is required by law. 

 

	 	(b)	The Obligors’ Agent shall promptly upon becoming aware that an Obligor must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction) notify the Agent accordingly. Similarly, a
Lender shall notify the Agent on becoming so aware in respect of a payment payable to that Lender. If the Agent receives such notification from a Lender it shall notify the Obligors’ Agent and that Obligor. 

 

	 	(c)	If a Tax Deduction is required by law to be made by an Obligor, the amount of the payment due from that Obligor shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the
payment which would have been due if no Tax Deduction had been required. 

  

	 	(d)	A payment shall not be increased under clause 13.2(c) by reason of a Tax Deduction on account of Tax imposed by the United Kingdom, if on the date on which the payment falls due: 

 

	 	(i)	the payment could have been made to the relevant Lender without a Tax Deduction if the Lender had been a Qualifying Lender, but on that date that Lender is not or has ceased to be a Qualifying Lender other than as a
result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or Treaty or any published practice or published concession of any relevant taxing authority;

  
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	 	(ii)	the relevant Lender is a Qualifying Lender solely by virtue of paragraph (i)(B) of the definition of Qualifying Lender; and: 

  

	 	(A)	an officer of HM Revenue & Customs has given (and not revoked) a direction (Direction) under section 931 of the ITA which relates to the payment and that Lender has received from the Obligor making the payment
or from the Obligors’ Agent a certified copy of that Direction; and 

  

	 	(B)	the payment could have been made to the Lender without any Tax Deduction if that Direction had not been made; 

  

	 	(iii)	the relevant Lender is a Qualifying Lender solely by virtue of paragraph (i)(B) of the definition of Qualifying Lender and: 

  

	 	(A)	the relevant Lender has not given a Tax Confirmation to the Obligors’ Agent; and 

  

	 	(B)	the payment could have been made to the Lender without any Tax Deduction if the Lender had given a Tax Confirmation to the Obligors’ Agent, on the basis that the Tax Confirmation would have enabled the
Obligors’ Agent to have formed a reasonable belief that the payment was an “excepted payment” for the purpose of section 930 of the ITA; or 

  

	 	(iv)	the relevant Lender is a Treaty Lender and the Obligor making the payment is able to demonstrate that the payment could have been made to the Lender without the Tax Deduction had that Lender complied with its
obligations under clause 13.2(h) or 13.2(i) as applicable. 

  

	 	(e)	A payment shall not be increased under clause 13.2(c) by reason of a Tax Deduction on account of U.S. federal income Tax, if on the date on which the payment falls due the payment could have been made to the relevant
Lender without such Tax Deduction if the Lender had been a Qualifying Lender described in paragraph (ii) of the definition of Qualifying Lender, but on that date that Lender is not or has ceased to be a Qualifying Lender described in paragraph
(ii) of the definition of Qualifying Lender other than as a result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or treaty or any published practice
or published concession of any relevant taxing authority. 

  

	 	(f)	If an Obligor is required to make a Tax Deduction, that Obligor shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the time allowed and in the minimum amount required by
law. 

  

	 	(g)	Within 30 days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the Obligor making that Tax Deduction shall deliver to the Agent for the Finance Party entitled to the
payment a statement under section 975 of the ITA or other evidence reasonably satisfactory to that Finance Party that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority.

  
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	 	(h)	     

  

	 	(i)	Subject to clause 13.2(h)(ii), a Treaty Lender and each Obligor which makes a payment to which that Treaty Lender is entitled shall co-operate as soon as reasonably practicable in completing any procedural formalities
necessary for that Obligor to obtain authorisation to make that payment without a Tax Deduction. 

  

	 	(ii)	     

  

	 	(A)	A Treaty Lender which becomes a Party on the day on which this Agreement is entered into that holds a passport under the HMRC DT Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, shall
confirm its scheme reference number and its jurisdiction of tax residence opposite its name in part 2 (The Original Lenders) of schedule 1; and 

  

	 	(B)	a New Lender or a New Commitments Lender that is a Treaty Lender that holds a passport under the HMRC DT Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, shall confirm its scheme
reference number and its jurisdiction of tax residence in the Transfer Certificate or Assignment Agreement or Increase Confirmation which it executes, 

and, having done so, that Lender shall be under no obligation pursuant to clause 13.2(h)(i). 

 

	 	(i)	If a Lender has confirmed its scheme reference number and its jurisdiction of tax residence in accordance with clause 13.2(h)(ii) and: 

 

	 	(i)	a Borrower making a payment to that Lender has not made a Borrower DTTP Filing in respect of that Lender; or 

  

	 	(ii)	a Borrower making a payment to that Lender has made a Borrower DTTP Filing in respect of that Lender but: 

  

	 	(A)	that Borrower DTTP Filing has been rejected by HM Revenue & Customs; or 

  

	 	(B)	HM Revenue & Customs has not given the Borrower authority to make payments to that Lender without a Tax Deduction within 60 days of the date of the Borrower DTTP Filing, 

and in each case, the Borrower has notified that Lender in writing, that Lender and the Borrower shall co-operate in completing any additional
procedural formalities necessary for that Borrower to obtain authorisation to make that payment without a Tax Deduction. 
  

	 	(j)	If a Lender has not confirmed its scheme reference number and jurisdiction of tax residence in accordance with clause 13.2(h)(ii), no Obligor shall make a Borrower DTTP Filing or file any other form relating to the
HMRC DT Treaty Passport scheme in respect of that Lender’s Commitment or its participation in any Loan unless the Lender otherwise agrees. 

  
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	 	(k)	A Borrower shall, promptly on making a Borrower DTTP Filing, deliver a copy of that Borrower DTTP Filing to the Agent for delivery to the relevant Lender. 

 

	 	(l)	A UK Non-Bank Lender which becomes a Party on the day on which this Agreement is entered into gives a Tax Confirmation to the Obligors’ Agent by entering into this Agreement. 

 

	 	(m)	A UK Non-Bank Lender shall promptly notify the Obligors’ Agent and the Agent if there is any change in the position from that set out in the Tax Confirmation. 

 

	13.3	Tax indemnity 

  

	 	(a)	The Obligors’ Agent shall (within three Business Days of demand by the Agent) pay to a Protected Party an amount equal to the loss, liability or cost which that Protected Party determines will be or has been
(directly or indirectly) suffered for or on account of Tax by that Protected Party in connection with any Finance Document or the transactions occurring under such Finance Document. 

 

	 	(b)	Clause 13.3(a) shall not apply: 

  

	 	(i)	with respect to any Tax assessed on a Finance Party: 

  

	 	(A)	under the law of the jurisdiction in which that Finance Party is incorporated or, if different, the jurisdiction (or jurisdictions) in which that Finance Party is treated as resident for tax purposes; or

  

	 	(B)	under the law of the jurisdiction in which that Finance Party’s Facility Office is located in respect of amounts received or receivable in that jurisdiction, 

if that Tax is imposed on or calculated by reference to the net income received or receivable (but not any sum deemed to be received or
receivable) by that Finance Party; or 
  

	 	(ii)	to the extent a loss, liability or cost: 

  

	 	(A)	is compensated for by an increased payment under clause 13.2; 

  

	 	(B)	would have been compensated for by an increased payment under clause 13.2 but was not so compensated solely because one of the exclusions in clause 13.2(d) or 13.2(e) applied; or 

 

	 	(C)	relates to a FATCA Deduction required to be made by a Party. 

  

	 	(c)	A Protected Party making, or intending to make a claim under clause 13.3(a) shall promptly notify the Agent of the event which will give, or has given, rise to the claim, following which the Agent shall notify the
Obligors’ Agent. 

  

	 	(d)	A Protected Party shall, on receiving a payment from an Obligor under this clause 13.3, notify the Agent. 

  
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	13.4	Tax Credit 

 If an Obligor makes a Tax Payment and the relevant Finance Party determines
that: 
  

	 	(a)	a Tax Credit is attributable to an increased payment of which that Tax Payment forms part, to that Tax Payment or to a Tax Deduction in consequence of which that Tax Payment was required; and 

 

	 	(b)	that Finance Party has obtained and utilised that Tax Credit, 

 the Finance Party shall pay an
amount to the Obligor which that Finance Party determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required to be made by the Obligor. 

 

	13.5	Lender status confirmation 

 Each Lender which becomes a Party to this Agreement after
the date of this Agreement shall indicate, in the Transfer Certificate or Assignment Agreement or Increase Confirmation which it executes on becoming a Party, and for the benefit of the Agent and without liability to any Obligor, which of the
following categories it falls in: 
  

	 	(a)	not a Qualifying Lender; 

  

	 	(b)	a Qualifying Lender (other than a Treaty Lender); or 

  

	 	(c)	a Treaty Lender. 

 If a New Lender or a New Commitments Lender fails to indicate its status in
accordance with this clause 13.5 then such New Lender or New Commitments Lender shall be treated for the purposes of this Agreement (including by each Obligor) as if it is not a Qualifying Lender until such time as it notifies the Agent which
category applies (and the Agent, upon receipt of such notification, shall inform the Obligors’ Agent). For the avoidance of doubt, a Transfer Certificate or Assignment Agreement or Increase Confirmation shall not be invalidated by any failure
of a Lender to comply with this clause 13.5. 
  

	13.6	Stamp taxes 

 The Obligors’ Agent shall pay and, within three Business Days of
demand, indemnify each Finance Party against any cost, loss or liability that Finance Party incurs in relation to all notarial fees, stamp duty, registration, excise and other similar Taxes payable in respect of any Finance Document or the
transactions occurring under any of them or any Transaction Security. 
  

	13.7	VAT 

  

	 	(a)	All amounts expressed to be payable under a Finance Document by any Party to a Finance Party which (in whole or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT
which is chargeable on that supply and, accordingly, subject to clause 13.7(b), if VAT is or becomes chargeable on any supply made by any Finance Party to any Party under a Finance Document and such Finance Party is required to account to the
relevant tax authority for the VAT, that Party must pay to such Finance Party (in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of the VAT (and such Finance Party must promptly
provide an appropriate VAT invoice to that Party). 

  
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	 	(b)	If VAT is or becomes chargeable on any supply made by any Finance Party (Supplier) to any other Finance Party (Recipient) under a Finance Document, and any Party other than the Recipient (Relevant
Party) is required by the terms of any Finance Document to pay an amount equal to the consideration for that supply to the Supplier (rather than being required to reimburse or indemnify the Recipient in respect of that consideration):

  

	 	(i)	(where the Supplier is the person required to account to the relevant tax authority for the VAT) the Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to
the amount of the VAT. The Recipient must (where this paragraph (i) applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably
determines relates to the VAT chargeable on that supply; and 

  

	 	(ii)	(where the Recipient is the person required to account to the relevant tax authority for the VAT) the Relevant Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT
chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respect of that VAT. 

 

	 	(c)	Where a Finance Document requires any Party to reimburse or indemnify a Finance Party for any cost or expense, that Party shall reimburse or indemnify (as the case may be) such Finance Party for the full amount of such
cost or expense, including such part thereof as represents VAT, save to the extent that such Finance Party reasonably determines that it is entitled to credit or repayment in respect of such VAT from the relevant tax authority. 

 

	 	(d)	Any reference in this clause 13.7 to any Party shall, at any time when such Party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to
the representative member of such group at such time (the term “representative member” to have the same meaning as in the Value Added Tax Act 1994). 

  

	 	(e)	In relation to any supply made by a Finance Party to any Party under a Finance Document, if reasonably requested by such Finance Party, that Party must promptly provide such Finance Party with details of that
Party’s VAT registration and such other information as is reasonably requested in connection with such Finance Party’s VAT reporting requirements in relation to such supply. 

 

	13.8	FATCA Information 

  

	 	(a)	Subject to clause 13.8(c), each Party shall, within ten Business Days of a reasonable request by another Party: 

  

	 	(i)	confirm to that other Party whether it is: 

  

	 	(A)	a FATCA Exempt Party; or 

  

	 	(B)	not a FATCA Exempt Party; and 

  

	 	(ii)	supply to that other Party such forms, documentation and other information relating to its status under FATCA as that other Party reasonably requests for the purposes of that other Party’s compliance with FATCA.

  
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	 	(b)	If a Party confirms to another Party pursuant to clause 13.8(a)(i) that it is a FATCA Exempt Party and it subsequently becomes aware that it is not or has ceased to be a FATCA Exempt Party, that Party shall notify that
other Party reasonably promptly. 

  

	 	(c)	Clause 13.8(a) shall not oblige any Finance Party to do anything which would or might in its reasonable opinion constitute a breach of: 

 

	 	(i)	any law or regulation; 

  

	 	(ii)	any fiduciary duty; or 

  

	 	(iii)	any duty of confidentiality. 

  

	 	(d)	If a Party fails to confirm whether or not it is a FATCA Exempt Party or to supply forms, documentation or other information requested in accordance with clause 13.8(a) (including, for the avoidance of doubt, where
clause 13.8(c) applies), then such Party shall be treated for the purposes of the Finance Documents (and payments under them) as if it is not a FATCA Exempt Party until such time as the Party in question provides the requested confirmation,
forms, documentation or other information. 

  

	 	(e)	If a Borrower is a U.S. Tax Obligor or the Agent reasonably believes that its obligations under FATCA require it, each Lender shall, within ten Business Days of: 

 

	 	(i)	where an Original Borrower is a U.S. Tax Obligor and the relevant Lender is an Original Lender, the date of this Agreement; 

  

	 	(ii)	where a Borrower is a U.S. Tax Obligor on a Transfer Date or on the effective date of an Increase Confirmation and the relevant Lender is: 

 

	 	(A)	a New Lender, the relevant Transfer Date; or 

  

	 	(B)	an Accordion Lender which was not previously a Party, the effective date of the applicable Increase Confirmation; 

  

	 	(iii)	the date a new U.S. Tax Obligor accedes as a Borrower; or 

  

	 	(iv)	where a Borrower is not a U.S. Tax Obligor, the date of a request from the Agent, 

 supply to
the Agent: 
  

	 	(A)	a withholding certificate on Form W-8, Form W-9 or any other relevant form; or 

  

	 	(B)	any withholding statement or other document, authorisation or waiver as the Agent may require to certify or establish the status of such Lender under FATCA. 

  
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	 	(f)	The Agent shall provide any withholding certificate, withholding statement, document, authorisation or waiver it receives from a Lender pursuant to clause 13.8(e) to the relevant Borrower. 

 

	 	(g)	If any withholding certificate, withholding statement, document, authorisation or waiver provided to the Agent by a Lender pursuant to clause 13.8(e) is or becomes materially inaccurate or incomplete, that Lender shall
promptly update it and provide such updated withholding certificate, withholding statement, document, authorisation or waiver to the Agent unless it is unlawful for the Lender to do so (in which case the Lender shall promptly notify the Agent). The
Agent shall provide any such updated withholding certificate, withholding statement, document, authorisation or waiver to the relevant Borrower. 

  

	 	(h)	The Agent may rely on any withholding certificate, withholding statement, document, authorisation or waiver it receives from a Lender pursuant to clause 13.8(e) or 13.8(g) without further verification. The Agent shall
not be liable for any action taken by it under or in connection with clauses 13.8(e), 13.8(f) or 13.8(g). 

  

	13.9	FATCA Deduction 

  

	 	(a)	Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it
makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction. 

  

	 	(b)	Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment and,
in addition, shall notify the Parent and the Agent and the Agent shall notify the other Finance Parties. 

  

	14	Increased costs 

  

	14.1	Increased costs 

  

	 	(a)	Subject to clause 14.3 the Obligors’ Agent shall, within three Business Days of a demand by the Agent, pay for the account of a Finance Party the amount of any Increased Costs incurred by that Finance Party or any
of its Affiliates as a result of: 

  

	 	(i)	the introduction of or any change in (or in the interpretation or application of) any law or regulation; 

  

	 	(ii)	compliance with any law or regulation; or 

  

	 	(iii)	the implementation or application of, or compliance with, Basel III or CRD IV or any other law or regulation which implements Basel III or CRD IV (whether such implementation, application or compliance is by a
government, regulator, the Lender or any of its Affiliates). 

 made after the date of this Agreement, provided that the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements or directives (thereunder or issued in connection therewith or in implementation thereof) shall, in each case, be deemed to be a change in
law after the date of this Agreement, regardless of the date enacted, adopted, issued or implemented. 

  
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	 	(b)	In this Agreement Increased Costs means: 

  

	 	(i)	a reduction in the rate of return from the Facility or on a Finance Party’s (or its Affiliate’s) overall capital; 

  

	 	(ii)	an additional or increased cost; or 

  

	 	(iii)	a reduction of any amount due and payable under any Finance Document, 

 which is incurred or
suffered by a Finance Party or any of its Affiliates to the extent that it is attributable to that Finance Party having entered into its Commitment or funding or performing its obligations under any Finance Document. 

 

	14.2	Increased cost claims 

  

	 	(a)	A Finance Party intending to make a claim pursuant to clause 14.1 shall notify the Agent of the event giving rise to the claim, following which the Agent shall promptly notify the Obligors’ Agent.

  

	 	(b)	Each Finance Party shall, as soon as practicable after a demand by the Agent, provide a certificate confirming the amount and basis of calculation of its Increased Costs. 

 

	14.3	Exceptions 

  

	 	(a)	clause 14.1 does not apply to the extent any Increased Cost is: 

  

	 	(i)	attributable to a Tax Deduction required by law to be made by an Obligor; 

  

	 	(ii)	compensated for by clause 13.3 (Tax indemnity) (or would have been compensated for under clause 13.3 (Tax indemnity) but was not so compensated solely because an exclusion in clause 13.3(b) (Tax indemnity) applied);

  

	 	(iii)	attributable to a FATCA Deduction required to be made by a Party; 

  

	 	(iv)	attributable to the wilful breach by the relevant Finance Party or its Affiliates of any law or regulation or the gross negligence of the relevant Finance Party or its Affiliates; or 

 

	 	(v)	attributable to the implementation or application of or compliance with the “International Convergence of Capital Measurement and Capital Standards, a Revised Framework” published by the Basel Committee on
Banking Supervision in June 2004 in the form existing on the date of this Agreement (but excluding any amendment arising out of Basel III) (Basel II) or any other law or regulation which implements Basel II (whether such implementation,
application or compliance is by a government, regulator, the Lender or any of its Affiliates). 

  
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	 	(b)	In this clause 14.3: 

  

	 	(i)	a reference to a Tax Deduction has the same meaning given to the term in clause 13.1 (Definitions); and 

  

	 	(ii)	Basel III means: 

  

	 	(A)	the agreements on capital requirements, a leverage ratio and liquidity standards contained in “Basel III: A global regulatory framework for more resilient banks and banking systems”, “Basel III:
International framework for liquidity risk measurement, standards and monitoring” and “Guidance for national authorities operating the countercyclical capital buffer” published by the Basel Committee on Banking Supervision in December
2010, each as amended, supplemented or restated; 

  

	 	(B)	the rules for global systemically important banks contained in “Global systemically important banks: assessment methodology and the additional loss absorbency requirement – Rules text” published by the
Basel Committee on Banking Supervision in November 2011, as amended, supplemented or restated; and 

  

	 	(C)	any further guidance or standards published by the Basel Committee on Banking Supervision relating to “Basel III”.” 

  

	15	Other indemnities 

  

	15.1	Currency indemnity 

  

	 	(a)	If any sum due from an Obligor under the Finance Documents (a Sum), or any order, judgment or award given or made in relation to a Sum, has to be converted from the currency (the First Currency) in which that Sum is
payable into another currency (the Second Currency) for the purpose of: 

  

	 	(i)	making or filing a claim or proof against that Obligor; and/or 

  

	 	(ii)	obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings, 

that Obligor shall as an independent obligation, within three Business Days of demand, indemnify each Finance Party to whom that Sum is due
against any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency into the Second Currency and (B) the rate or
rates of exchange available to that person at the time of its receipt of that Sum. 
  

	 	(b)	Each Obligor waives any right it may have in any jurisdiction to pay any amount under the Finance Documents in a currency or currency unit other than that in which it is expressed to be payable. 

  
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	15.2	Other indemnities 

 The Borrowers shall (or shall procure that an Obligor will), within
three Business Days of demand, indemnify each Lender against any cost, loss or liability incurred by that Finance Party as a result of: 
  

	 	(a)	the occurrence of any Event of Default; 

  

	 	(b)	a failure by an Obligor to pay any amount due under a Finance Document on its due date, including without limitation, any cost, loss or liability arising as a result of clause 28 (Sharing among the Finance
Parties); 

  

	 	(c)	funding, or making arrangements to fund, its participation in a Loan requested by a Borrower in a Utilisation Request but not made by reason of the operation of any one or more of the provisions of this Agreement (other
than by reason of default or negligence by that Finance Party alone); or 

  

	 	(d)	a Loan (or part of a Loan) not being prepaid in accordance with a notice of prepayment given by a Borrower or the Obligors’ Agent. 

 

	15.3	Indemnity to the Agent 

 The Borrowers shall promptly indemnify the Agent against: 

 

	 	(a)	any cost, loss or liability incurred by the Agent (acting reasonably) as a result of: 

  

	 	(i)	investigating any event which it reasonably believes is a Default; 

  

	 	(ii)	entering into or performing any foreign exchange contract for the purposes of clause 6 (Optional currencies); 

  

	 	(iii)	acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and appropriately authorised; or 

 

	 	(iv)	instructing lawyers, accountants, tax advisers, surveyors or other professional advisers or experts as permitted under this Agreement; and 

 

	 	(b)	any cost, loss or liability incurred by the Agent (otherwise than by reason of the Agent’s gross negligence or wilful misconduct) (or, in the case of any cost, loss or liability pursuant to clause 29.11 (Disruption
to Payment Systems etc) notwithstanding the Agent’s negligence, gross negligence or any other category of liability whatsoever but not including any claim based on the fraud of the Agent) in acting as Agent under the Finance Documents.

  

	15.4	Indemnity to the Security Agent 

  

	 	(a)	Each Obligor jointly and severally shall promptly indemnify the Security Agent and every Receiver and Delegate against any cost, loss or liability incurred by any of them as a result of: 

 

	 	(i)	any failure by the Parent to comply with its obligations under clause 17 (Costs and expenses); 

  

	 	(ii)	acting or relying on any notice, request or instruction which is reasonably believes to be genuine, correct and appropriately authorised; 

  
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	 	(iii)	the taking, holding, protection or enforcement of the Transaction Security; 

  

	 	(iv)	the exercise of any of the rights, powers, discretions and remedies vested in the Security Agent and each Receiver and Delegate by the Finance Documents or by law; 

 

	 	(v)	any default by any Obligor in the performance of any of the obligations expressed to be assumed by it in the Finance Documents; or 

  

	 	(vi)	acting as Security Agent, Receiver or Delegate under the Finance Documents or which otherwise relates to any of the Charged Property (otherwise, in each case, than by reason of the relevant Security Agent’s,
Receiver’s or Delegate’s gross negligence or wilful misconduct). 

  

	 	(b)	The Security Agent and any Receiver and Delegate may, in priority to any payment to the Finance Parties, indemnify itself out of the Charged Property in respect of, and pay and retain, all sums necessary to give effect
to the indemnity in this clause 15.4 and shall have a lien on the Transaction Security and the proceeds of the enforcement of the Transaction Security for all monies payable to it. 

 

	15.5	Limitation on indemnities 

 Nothing in this clause 15 shall require any Borrower or other
Obligor to pay any amount to any Finance Party or to undertake any obligation or liability to pay such amount, if the payment (or undertaking of any obligation or liability to make such payment) would cause or result in any “deemed
dividend” to any U.S. Obligor or U.S. Bilateral Borrower pursuant to the Internal Revenue Code and the regulations promulgated and the judicial and administrative decisions rendered under it. 

 

	16	Mitigation by the Lenders 

  

	16.1	Mitigation 

  

	 	(a)	Each Finance Party shall, in consultation with the Obligors’ Agent, take all reasonable steps to mitigate any circumstances which arise and which would result in any amount becoming payable under, or cancelled
pursuant to, any of clause 8.1 (Illegality), clause 13 (Tax gross up and indemnities) or clause 14 (Increased costs) including (but not limited to) transferring its rights and obligations under the Finance Documents to another Affiliate or
Facility Office. 

  

	 	(b)	Paragraph (a) above does not in any way limit the obligations of any Obligor under the Finance Documents. 

  

	16.2	Limitation of liability 

  

	 	(a)	The Borrowers shall indemnify each Finance Party for all costs and expenses reasonably incurred by that Finance Party as a result of steps taken by it under clause 16.1. 

 

	 	(b)	A Finance Party is not obliged to take any steps under clause 16.1 if, in the opinion of that Finance Party (acting reasonably), to do so might be prejudicial to it. 

 

	 	(c)	Neither the Agent, the Security Agent, the Arranger, nor any Lender shall have any liability with respect to, and the Obligors hereby waive, release and agree not to sue for, any special, indirect, consequential or
punitive damages suffered by the Obligors in connection with, arising out of or in any way related to the Finance Documents or the transactions contemplated thereby. 

  
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	17	Costs and expenses 

  

	17.1	Transaction expenses 

 The Borrowers shall promptly on demand pay the Agent, the Security
Agent and the Arranger the amount of all costs and expenses (including legal fees) reasonably incurred by any of them in connection with: 
  

	 	(a)	the negotiation, preparation, printing and execution of this Agreement and any Finance Document; 

  

	 	(b)	any other Finance Documents executed after the date of this Agreement; 

  

	 	(c)	the completion of the transactions and perfection of the Transaction Security contemplated in the Finance Documents; and 

  

	 	(d)	the release of any Transaction Security. 

  

	17.2	Amendment costs 

 If (a) an Obligor requests an amendment, waiver or consent or
(b) an amendment is required pursuant to clause 29.10 (Change of currency), the Obligors’ Agent shall, within three Business Days of demand, reimburse the Agent and the Security Agent for the amount of all costs and expenses
(including legal fees) reasonably incurred by the Agent and the Security Agent in responding to, evaluating, negotiating or complying with that request or requirement. 
  

	17.3	Enforcement costs 

 The Obligors’ Agent shall, within three Business Days of demand,
pay to each Finance Party the amount of all costs and expenses (including legal fees) incurred by that Finance Party in connection with the enforcement of, or the preservation of any rights under, any Finance Document or the Transaction Security and
the Security Agent may, in priority to any payment to the Finance Parties, indemnify itself out of the Charged Property in respect of (and pay and retain) all sums necessary to give effect to this clause. 

 

	18	Guarantee and indemnity 

  

	18.1	Guarantee and indemnity 

  

	 	(a)	Each Guarantor (other than a U.S. Guarantor) irrevocably and unconditionally, jointly and severally: 

  

	 	(i)	guarantees to each Finance Party punctual performance by each Borrower (other than a U.S. Borrower) of all that Borrower’s obligations under the Finance Documents; 

 

	 	(ii)	undertakes with each Finance Party that whenever a Borrower (other than a U.S. Borrower) does not pay any amount when due under or in connection with any Finance Document, that Guarantor shall immediately on demand pay
that amount as if it was the principal obligor; and 

  

	 	(iii)	indemnifies each Finance Party immediately on demand against any cost, loss or liability suffered by that Finance Party if any obligation guaranteed by it under this clause 18.1(a) is or becomes unenforceable, invalid
or illegal. The amount of the cost, loss or liability shall be equal to the amount which that Finance Party would otherwise have been entitled to recover. 

  
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	 	(b)	Each U.S. Guarantor irrevocably and unconditionally, jointly and severally: 

  

	 	(i)	guarantees to each Finance Party punctual performance by each Borrower of all that Borrower’s obligations under the Finance Documents; 

 

	 	(ii)	undertakes with each Finance Party that whenever a Borrower does not pay any amount when due under or in connection with any Finance Document, that U.S. Guarantor shall immediately on demand pay that amount as if it was
the principal obligor; and 

  

	 	(iii)	indemnifies each Finance Party immediately on demand against any cost, loss or liability suffered by that Finance Party if any obligation guaranteed by it under this clause 18.1(b) is or becomes unenforceable, invalid
or illegal. The amount of the cost, loss or liability shall be equal to the amount which that Finance Party would otherwise have been entitled to recover. 

  

	 	(c)	Each U.S. Guarantor irrevocably and unconditionally, jointly and severally: 

  

	 	(i)	guarantees to each Finance Party punctual performance by each Bilateral Borrower (other than a Borrower) of all that Bilateral Borrower’s obligations under the Finance Documents; 

 

	 	(ii)	undertakes with each Finance Party that whenever a Bilateral Borrower (other than a Borrower) does not pay any amount when due under or in connection with any Finance Document, that U.S. Guarantor shall immediately on
demand pay that amount as if it was the principal obligor; and 

  

	 	(iii)	indemnifies each Finance Party immediately on demand against any cost, loss or liability suffered by that Finance Party if any obligation guaranteed by it under this clause 18.1(c) is or becomes unenforceable, invalid
or illegal. The amount of the cost, loss or liability shall be equal to the amount which that Finance Party would otherwise have been entitled to recover. 

  

	 	(d)	Each Guarantor which is not a U.S. Guarantor irrevocably and unconditionally, jointly and severally: 

  

	 	(i)	guarantees to each Finance Party punctual performance by each Bilateral Borrower that is not a Borrower or a U.S. Borrower or a U.S. Bilateral Borrower of all that Bilateral Borrower’s obligations under the Finance
Documents; 

  

	 	(ii)	undertakes with each Finance Party that whenever a Bilateral Borrower that is not a Borrower or a U.S. Borrower or a U.S. Bilateral Borrower does not pay any amount when due under or in connection with any Finance
Document, that Guarantor shall immediately on demand pay that amount as if it was the principal obligor; and 

  

	 	(iii)	indemnifies each Finance Party immediately on demand against any cost, loss or liability suffered by that Finance Party if any obligation guaranteed by it under this clause 18.1(d) is or becomes unenforceable, invalid
or illegal. The amount of the cost, loss or liability shall be equal to the amount which that Finance Party would otherwise have been entitled to recover. 

  
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	18.2	Continuing guarantee 

 This guarantee is a continuing guarantee and will extend to the
ultimate balance of sums payable by any Obligor or Bilateral Borrower (other than an Obligor) under the Finance Documents, regardless of any intermediate payment or discharge in whole or in part. 

 

	18.3	Reinstatement 

 If any payment by an Obligor or Bilateral Borrower (other than an
Obligor) or any discharge given by a Finance Party (whether in respect of the obligations of any Obligor or Bilateral Borrower (other than an Obligor) or any security for those obligations or otherwise) is avoided or must be restored in insolvency,
liquidation, administration, judicial management or otherwise, without limitation, then: 
  

	 	(a)	the liability of each Obligor and Bilateral Borrower (other than an Obligor) shall continue as if the payment, discharge, avoidance or reduction had not occurred; and 

 

	 	(b)	each Finance Party shall be entitled to recover the value or amount of that security or payment from each Obligor and Bilateral Borrower (other than an Obligor), as if the payment, discharge, avoidance or reduction had
not occurred. 

  

	18.4	Waiver of defences 

 The obligations of each Guarantor under this clause 18 will not be
affected by an act, omission, matter or thing which, but for this clause, would reduce, release or prejudice any of its obligations under this clause 18 (without limitation and whether or not known to it or any Finance Party) including: 

 

	 	(a)	any time, waiver or consent granted to, or composition with, any Obligor, any Bilateral Borrower (other than an Obligor) or other person; 

 

	 	(b)	the release of any other Obligor, any Bilateral Borrower (other than an Obligor) or any other person under the terms of any composition or arrangement with any creditor of any member of the Group; 

 

	 	(c)	the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any rights against, or security over assets of, any Obligor, any Bilateral Borrower (other than
an Obligor) or other person or any non-presentation or non-observance of any formality or other requirement in respect of any instrument or any failure to realise the full value of any security; 

 

	 	(d)	any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or status of an Obligor, a Bilateral Borrower (other than an Obligor) or any other person; 

 

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

  
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	 	(f)	any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or any other document or security; or 

 

	 	(g)	any insolvency or similar proceedings. 

  

	18.5	Guarantor Intent 

 Without prejudice to the generality of clause 18.4, each Guarantor
expressly confirms that it intends that this guarantee shall extend from time to time to any (however fundamental and of whatsoever nature and whether or not more onerous) variation, increase, extension or addition of or to any of the Finance
Documents and/or any facility or amount made available under any of the Finance Documents for the purposes of or in connection with any of the following: acquisitions of any nature; increasing working capital; enabling investor distributions to be
made; carrying out restructurings; refinancing existing facilities; refinancing any other indebtedness; making facilities available to new borrowers; any other variation or extension of the purposes for which any such facility or amount might be
made available from time to time; and any fees, costs and/or expenses associated with any of the foregoing. 
  

	18.6	Immediate recourse 

 Each Guarantor waives any right it may have of first requiring any
Finance Party (or any trustee or agent on its behalf) to proceed against or enforce any other rights or security or claim payment from any person before claiming from that Guarantor under this clause 18. This waiver applies irrespective of any law
or any provision of a Finance Document to the contrary. 
  

	18.7	Appropriations 

 Until all amounts which may be or become payable by the Obligors and the
Bilateral Borrowers (other than Obligors) under or in connection with the Finance Documents have been irrevocably paid in full, each Finance Party (or any trustee or agent on its behalf) may while a Default is continuing: 

 

	 	(a)	refrain from applying or enforcing any other monies, security or rights held or received by that Finance Party (or any trustee or agent on its behalf) in respect of those amounts, or apply and enforce the same in such
manner and order as it sees fit (whether against those amounts or otherwise) and no Guarantor shall be entitled to the benefit of the same; and 

  

	 	(b)	hold in an interest-bearing suspense account (bearing interest at an appropriate market rate) any monies received from any Guarantor or on account of any Guarantor’s liability under this clause 18.

  

	18.8	Deferral of Guarantors’ rights 

 Until all amounts which may be or become payable by
the Obligors and the Bilateral Borrowers (other than Obligors) under or in connection with the Finance Documents have been irrevocably paid in full and unless the Agent otherwise directs, no Guarantor will exercise any rights which it may have by
reason of performance by it of its obligations under the Finance Documents or by reason of any amount being payable, or liability arising, under this clause 18: 
  

	 	(a)	to be indemnified by an Obligor or a Bilateral Borrower (other than an Obligor); 

  
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	 	(b)	to claim any contribution from any other guarantor of any obligations of an Obligor or a Bilateral Borrower (other than an Obligor) under the Finance Documents; 

 

	 	(c)	to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Finance Parties under the Finance Documents or of any other guarantee or security taken pursuant to, or in
connection with, the Finance Documents by any Finance Party. 

  

	 	(d)	to bring legal or other proceedings for an order requiring any Obligor to make any payment, or perform any obligation, in respect of which any Guarantor has given a guarantee, undertaking or indemnity under clause 18.1;

  

	 	(e)	to exercise any right of set-off against any Obligor; and/or 

  

	 	(f)	to claim or prove as a creditor of any Obligor in competition with any Finance Party. 

 If the
Guarantor receives any benefit, payment or distribution in relation to such rights it shall hold that benefit, payment or distribution to the extent necessary to enable all amounts which may be or become payable to the Finance Parties by the
Borrower or Bilateral Borrower (as the case may be) under or in connection with the Finance Documents to be repaid in full on trust for the Finance Parties and shall promptly pay or transfer the same to the Agent or as the Agent may direct for
application in accordance with clause 29 (Payment mechanics) of this Agreement. 
  

	18.9	Release of Guarantors’ right of contribution 

 If any Guarantor (a Retiring
Guarantor) ceases to be a Guarantor in accordance with the terms of the Finance Documents for the purpose of any sale or other disposal of that Retiring Guarantor then on the date such Retiring Guarantor ceases to be a Guarantor: 

 

	 	(a)	that Retiring Guarantor is released by each other Guarantor from any liability (whether past, present or future and whether actual or contingent) to make a contribution to any other Guarantor arising by reason of the
performance by any other Guarantor of its obligations under the Finance Documents; and 

  

	 	(b)	each other Guarantor waives any rights it may have by reason of the performance of its obligations under the Finance Documents to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of
any rights of the Finance Parties under any Finance Document or of any other security taken pursuant to, or in connection with, any Finance Document where such rights or security are granted by or in relation to the assets of the Retiring Guarantor.

  

	18.10	Additional security 

 This guarantee is in addition to and is not in any way prejudiced
by any other guarantee or security now or subsequently held by any Finance Party. 

  
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	18.11	Specific limitations for Swiss Guarantors 

  

	 	(a)	Notwithstanding any other provision of this Agreement or any other document in connection therewith, if and to the extent the payment obligations (including, for the avoidance of doubt, any obligation to gross-up
pursuant to clause 13.2 (Tax gross-up) or to indemnify any Finance Party pursuant to this Agreement) of a Guarantor incorporated in Switzerland (a Swiss Guarantor) as a Guarantor for, or with respect to, obligations of any other Obligor (other than
the wholly owned direct or indirect Subsidiaries of the Swiss Guarantor) would, at the time payment is due, under Swiss laws and regulations not be permitted or be of an amount rendering the directors of that Swiss Guarantor personally liable
pursuant to Swiss law to any of its creditors as a consequence of paying such amount, then such payment obligations shall remain limited to the amount permitted to be paid and not triggering such directors’ liability. Such limited amount shall
however in no event be less than the unrestricted equity capital surplus (including the unrestricted portion of general reserves, other free reserves, retained earnings and current net profits) freely available for distribution to the shareholder(s)
of that Swiss Guarantor under the Swiss Code of Obligations at the time or times payment(s) under or pursuant to this Agreement is requested from that Swiss Guarantor, less Swiss withholding tax if and to the extent required by applicable law in
force at the relevant time, at the rate of 35% or such other rate as in force from time to time. 

  

	 	(b)	This limitation shall only apply to the extent it is a requirement under applicable law at the time the Swiss Guarantor is required to perform its guarantee obligations under the Finance Documents. Such limitation shall
not free the Swiss Guarantor from its obligations in excess of the freely disposable equity, but merely postpone the performance date thereof until such times when the Swiss Guarantor has again freely disposable equity if and to the extent such
freely disposable equity is available. 

  

	 	(c)	If and to the extent at the time a payment from a Swiss Guarantor as Guarantor is demanded such payment is subject to the limitation pursuant to paragraph (a) above and may only be made as a distribution of
profits, then such payment shall only be made upon completion of the following measures to the extent they are from time to time required under Swiss corporate law: 

 

	 	(i)	an audited balance sheet of that Swiss Guarantor has been prepared; 

  

	 	(ii)	the auditors of that Swiss Guarantor have approved the amount of the proposed payment based on applicable Swiss corporate law and the articles of association; 

 

	 	(iii)	the shareholder(s) of that Swiss Guarantor must have had access to the above-mentioned audited balance sheet as well as to the auditors’ report; and 

 

	 	(iv)	the shareholders of that Swiss Guarantor must properly be convened (or all shareholders must be present) and vote in favour of the payment of the amount under the guarantee given by that Swiss Guarantor.

  

	 	(d)	Each Swiss Guarantor and each immediate Holding Company of each Swiss Guarantor and the Parent undertake to take and/or cause all measures necessary or useful, as the case may be, to implement the foregoing documents
and other acts referred to in paragraph (c) above. 

  

	 	(e)	Subject only to the foregoing, such payments to be made by a Swiss Guarantor under this guarantee shall be timely made in full as provided for in this Agreement. 

  
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	18.12	Specific provision for U.S. Guarantors and other U.S. limitations 

  

	 	(a)	Each U.S. Guarantor represents and warrants to each Finance Party that: 

  

	 	(i)	the fair saleable value of each U.S. Obligor’s assets exceeds the total amount of liabilities (including contingent, subordinated, unmatured and unliquidated liabilities, in each case valued at the probable
liability of such U.S. Obligor with respect thereto) of such U.S. Obligor on a consolidated basis as they become absolute and mature; 

  

	 	(ii)	the present fair saleable value of the assets of each U.S. Obligor is not less than the amount that will be required to pay its probable liabilities as they become absolute and matured; 

 

	 	(iii)	each U.S. Obligor will be able to realize upon its assets and will have sufficient cash flow from operations to enable it to pay its debts, other liabilities and contingent obligations as they mature in the ordinary
course of its business; and 

  

	 	(iv)	each U.S. Obligor does not have unreasonably small capital with which to engage in its anticipated businesses. 

  

	 	(b)	Each representation and warranty in this clause 18.12(b): 

  

	 	(i)	is made by each U.S. Guarantor on the date of this Agreement; 

  

	 	(ii)	is deemed to be repeated by: 

  

	 	(A)	each Additional Guarantor on the date that Additional Guarantor becomes a U.S. Guarantor; and 

  

	 	(B)	each U.S. Guarantor on the date of each Utilisation Request; and 

 is, when repeated, applied
to the circumstances existing at the time of repetition. 
  

	 	(c)	Notwithstanding any term or provision of this clause 18 or any other term in this Agreement or any Finance Document: 

  

	 	(i)	if any U.S. federal or state fraudulent conveyance laws are determined by a court of competent jurisdiction to be applicable to the obligations of a U.S. Guarantor hereunder, such U.S. Guarantor’s obligations
hereunder shall be limited to the maximum aggregate amount of the obligations that would not render such U.S. Guarantor’s obligations subject to avoidance under applicable U.S. federal or state fraudulent conveyance laws; and 

 

	 	(ii)	the obligations being guaranteed by the Guarantors (by express guarantee, grant of security or otherwise) shall not extend to any Excluded Swap Obligations. 

  
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	 	(d)	In this clause 18.12 and clause 18.13: 

 Commodity Exchange Act means the Commodity
Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute 
 Excluded Swap Obligation means,
with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any guarantee thereof)
is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any
reason to constitute an eligible contract participant as defined in the Commodity Exchange Act at the time the guarantee of such Guarantor or the grant of such security interest becomes effective with respect to such related Swap Obligation.
If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee or security interest is or becomes
illegal  
 Qualified ECP Guarantor means, in respect of any Swap Obligation, each Obligor that has total assets exceeding
$10,000,000 at the time the relevant guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation or such other person as constitutes an “eligible contract participant” under the Commodity
Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell under section 1a(18)(A)(v)(II) of the Commodity Exchange Act

 Swap Obligation means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or
transaction that constitutes a swap within the meaning of section 1a(47) of the Commodity Exchange Act. 
  

	18.13	Keepwell 

 Each Qualified ECP Guarantor hereby jointly and severally, unconditionally and
irrevocably undertakes to guarantee the performance by each other Obligor of all of its obligations under this Agreement (including its guarantee obligations pursuant to this clause 18 or any other Finance Documents in respect of Swap Obligations
(provided, however, that each Qualified ECP Guarantor shall only be liable under this clause 18.13 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this clause 18.13, or otherwise under
this Agreement or any other Finance Document voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this clause 18.13 shall
remain in full force and effect until the obligations under the Finance Documents are discharged in full. Each Qualified ECP Guarantor intends that this clause 18.13 constitute, and this clause 18.13 shall be deemed to constitute, a “keepwell,
support, or other agreement” for the benefit of each other Loan Party for all purposes of section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
  

	19	Representations 

 Each Obligor makes the representations and warranties set out in this
clause 19 to each Finance Party on the date of this Agreement except that to the extent that any representation and warranty relates to a Finance Document which has not at the date of this Agreement been executed it shall be made on the date of that
Finance Document. 

  
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	19.1	Status 

  

	 	(a)	It is a corporation, duly incorporated and validly existing (and, with respect to any Obligor formed in the U.S., in good standing) under the law of its jurisdiction of incorporation or formation. 

 

	 	(b)	It and each of its Subsidiaries has the power to own its assets and carry on its business as it is being conducted. 

  

	19.2	Binding obligations 

 The obligations expressed to be assumed by it in each Finance
Document are legal, valid, binding and (subject to the Legal Reservations) enforceable obligations. 
  

	19.3	Non-conflict with other obligations 

 The entry into and performance by it of, and the
transactions contemplated by, the Finance Documents do not: 
  

	 	(a)	conflict with any law or regulation applicable to it or any of its Subsidiaries; 

  

	 	(b)	contravene its constitutional documents; 

  

	 	(c)	breach (in a manner or to an extent which could reasonably be expected to have a Material Adverse Effect) any agreement or instrument binding upon it or any member of the Group or any of its or any member of the
Group’s assets; or 

  

	 	(d)	oblige it, or any of its Subsidiaries, to create any Security or result in the creation of any Security over its or their respective assets other than under the Security Documents. 

 

	19.4	Power and authority 

 It has the power to enter into, perform and deliver, and has taken
all necessary action to authorise its entry into, performance and delivery of, the Finance Documents to which it is a party and the transactions contemplated by those Finance Documents. 

 

	19.5	Validity and admissibility in evidence 

 All Authorisations required or desirable: 

 

	 	(a)	to enable it lawfully to enter into, exercise its rights and comply with its obligations in the Finance Documents to which it is a party; 

 

	 	(b)	to make the Finance Documents to which it is a party admissible in evidence in its jurisdiction of incorporation (save for any filings or registrations required in relation to the Security constituted by the Security
Documents, which filings or registrations will be made promptly after execution of the relevant Security Documents and in any event within applicable time limits); and 

 

	 	(c)	to create the Security constituted by the Security Documents to which it is party and, subject to the Legal Reservations, to ensure that such Security has the ranking specified therein, 

have been obtained or effected and are in full force and effect. 

  
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	19.6	Governing law and enforcement 

  

	 	(a)	The choice of English law as the governing law of the Finance Documents (or, in respect of any Security Document to which it is a party, the relevant governing laws of that Security Document) will (subject to the Legal
Reservations) be recognised and enforced in its jurisdiction of incorporation. 

  

	 	(b)	Any judgment obtained in England in relation to a Finance Document (or, in respect of any Security Document to which it is a party, any judgment obtained in the courts which are expressed to have jurisdiction to hear
disputes under such Security Document) will (subject to the Legal Reservations) be recognised and enforced in its jurisdiction of incorporation. 

  

	19.7	No filing or stamp taxes 

 Save to the extent identified in any legal opinion delivered
pursuant to clause 4 (Conditions of Utilisation) or clause 25 (Changes to the Obligors), under the law of its jurisdiction of incorporation it is not necessary that the Finance Documents be filed, recorded or enrolled with any court or
other authority in that jurisdiction or that any stamp, registration or similar tax be paid on or in relation to the Finance Documents or the transactions contemplated by the Finance Documents. 

 

	19.8	Security interests 

  

	 	(a)	It is the absolute legal and, where applicable, beneficial owner of all the assets over which it purports to create Security pursuant to the Security Documents and (subject to the Legal Reservations) each Security
Document to which it is a party creates the Security which that Security Document purports to create or, if that Security Document purports to evidence Security, accurately evidences Security which has been validly created. 

 

	 	(b)	The shares of any member of the Group mortgaged or pledged by it pursuant to the Security Documents are all fully paid up and not subject to any option to purchase or similar rights. The constitutional documents of any
such member of the Group do not restrict or inhibit any transfer of such shares on creation or enforcement of such Security over such shares. 

  

	19.9	No misleading information 

 All written information (other than the Financial Model)
supplied by any member of the Group after the date of this Agreement to the Agent in or pursuant to or in connection with any Finance Document is correct in all material respects as at the date it was given and was not misleading in any material
respect as at the date it was given. 
  

	19.10	No default 

  

	 	(a)	No Event of Default is continuing or would result from the making of any Utilisation. 

  

	 	(b)	No other event or circumstance is outstanding which constitutes a default under any other agreement or instrument which is binding on it or any of its Subsidiaries or to which its (or its Subsidiaries’) assets are
subject which could reasonably be expected to have a Material Adverse Effect. 

  
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	19.11	Financial statements 

  

	 	(a)	Its Original Financial Statements were prepared in accordance with U.S. GAAP (in the case of the Parent) or UK GAAP (in the case of Innospec and each other Original Obligor incorporated in England) or Relevant GAAP
(in the case of any other Obligor) in each case consistently applied unless expressly disclosed to the contrary. 

  

	 	(b)	Its Original Financial Statements fairly represent its financial condition and operations (consolidated in the case of the Parent) during the relevant financial year. 

 

	19.12	Material Adverse Changes 

  

	 	(a)	There has been no change in the Business or the assets of the Group to that set out in the Original Financial Statements delivered pursuant to clause 2 (of the Second Amendment and Restatement Agreement) which has or is
reasonably likely to have a Material Adverse Effect. 

  

	 	(b)	There has been no change in the financial condition, business or assets of the Group since the date of the most recently delivered audited consolidated financial statements pursuant to clause 20.1(a) (Financial
statements) which has or is reasonably likely to have a Material Adverse Effect. 

  

	19.13	Pari passu ranking 

 Its payment obligations under the Finance Documents rank at least
pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally. 
  

	19.14	Assets 

 It or its Subsidiaries have good title to or valid leases or licences of or are
otherwise entitled to use all material assets (including, without limitation, all Intellectual Property) necessary to conduct the Business. 
  

	19.15	[Intentionally blank] 

  

	19.16	Financial Model 

  

	 	(a)	The material statements of fact in relation to the assets, financial condition and operations of the Business and the Group contained in the Financial Model were true and accurate in all material respects at the date
ascribed thereto in the Financial Model. 

  

	 	(b)	The opinions and views expressed given by or on behalf of any member of the Group for the purposes of the Financial Model were arrived at after careful consideration and were based on reasonable grounds.

  

	 	(c)	All projections and forecasts contained in the Financial Model were based upon assumptions (including assumptions as to the future performance of the Business, inflation, price increases and efficiency gains) which
Management carefully considered and considered to be fair and reasonable as at the date of the relevant report or document containing the projection. 

  

	 	(d)	So far as it is aware (after reasonable enquiry), nothing has occurred or been omitted from the Financial Model and no information has been given or withheld that results in the material factual information contained in
the Financial Model being untrue or misleading in any material respect. 

  
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	19.17	[Intentionally blank] 

  

	19.18	Group Structure Chart 

 The Group Structure Chart delivered to the Agent pursuant to the
Second Amendment and Restatement Agreement is true, complete and accurate in all material respects. 
  

	19.19	U.S. Governmental Regulation 

  

	 	(a)	It is not an investment company or an affiliated person of an investment company as such terms are defined in the United States Investment Company Act of 1940 or otherwise subject to regulation
under the United States Federal Power Act or the United States Investment Company Act of 1940. 

  

	 	(b)	It is not subject to regulation under any other federal or state statute or regulation which may limit its ability to incur Financial Indebtedness under the Finance Documents or which may otherwise render all or any
portion of the obligations under the Finance Documents unenforceable, in each case to an extent or in a manner which has or could reasonably be expected to have a Material Adverse Effect other than such regulations with which it has complied.

  

	19.20	[Intentionally blank] 

  

	19.21	Margin Stock 

  

	 	(a)	No U.S. Group Member is engaged nor will it engage principally, or as one of its important activities, in the business of owning or extending credit for the purpose of “buying” or “carrying” any
Margin Stock. 

  

	 	(b)	None of the proceeds of the Loans or other extensions of credit under this Agreement will be used, directly or indirectly, for the purpose of buying or carrying any Margin Stock, for the purpose of reducing or retiring
any indebtedness that was originally incurred to buy or carry any Margin Stock or for any other purpose which would be likely to cause all or any Loans or other extensions of credit under this Agreement to be considered a purpose credit
within the meaning of Regulation U or Regulation X of the Board of Governors of the Federal Reserve System of the U.S. 

  

	 	(c)	No U.S. Group Member or any agent acting on its behalf has taken or will take any action which would be likely to cause the Finance Documents to violate any regulation of the Board of Governors of the Federal Reserve
System of the U.S. 

  

	19.22	Sanctions 

  

	 	(a)	Neither it nor any of its Subsidiaries, nor any directors, officers, employees or agents of it or any of its Subsidiaries: 

  

	 	(i)	is a Restricted Party or is engaging in or has engaged in any transaction or conduct that could result in it becoming a Restricted Party; 

 

	 	(ii)	is subject to any claim, proceeding, formal notice or (to the best of its knowledge) investigation with respect to Sanctions; 

  
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	 	(iii)	is engaging or has engaged in any transaction that evades or avoids, or has the purpose of evading or avoiding, or breaches or attempts to breach, directly or indirectly, any Sanctions applicable to it; or

  

	 	(iv)	has engaged or is engaging, directly or indirectly, in any trade, business or other activities with or (to the best of its knowledge) for the benefit of any Restricted Party. 

 

	 	(b)	No Utilisation, nor the proceeds from any Utilisation, has been used, directly or indirectly, to lend, contribute, provide or has otherwise been made to fund or finance any business activities or transactions:

  

	 	(i)	of or with a Restricted Party; or 

  

	 	(ii)	in any other manner which would result in any member of the Group or any Finance Party being in breach of any Sanctions or becoming a Restricted Party. 

 

	19.23	Anti-Money Laundering 

 Except as disclosed in the Disclosure Letter, the
operations of each member of the Group are, and at all times have been, conducted in compliance with all applicable anti-money laundering laws and all applicable financial record keeping and reporting requirements, rules, regulations and guidelines
(Money Laundering Laws) and no investigation, action, suit or proceeding by or before any court or governmental authority or any arbitrator involving any member of the Group with respect to Money Laundering Laws is pending and, so far as the
Group is aware, no such investigations, actions, suits or proceedings are threatened or contemplated. 
  

	19.24	Anti-Corruption 

 Except as disclosed in the Disclosure Letter, each member of the Group
has conducted its businesses in compliance with applicable anti-corruption laws and has instituted and maintained policies and procedures designed to promote and achieve compliance with such laws. 

 

	19.25	Compliance with Non-Qualifying Bank Rules 

 Each Swiss Obligor is in compliance with the
Non-Qualifying Bank Rules. For purposes of compliance with the Non-Qualifying Bank Rules, the Parent shall assume for the purposes of determining the total number of creditors which are not Qualifying Banks that at all times there are 10 (ten)
Lenders that are not Qualifying Banks under this Agreement. 
  

	19.26	Repetition 

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

	 	(a)	the date of each Utilisation Request, each Increase Date and the first day of each Interest Period; and 

  

	 	(b)	in the case of an Additional Obligor, the day on which the relevant company becomes (or it is proposed that the relevant company becomes) an Additional Obligor. 

  
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	20	Information undertakings 

 The undertakings in this clause 20 remain in force from the
date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force. 
  

	20.1	Financial statements 

 The Parent shall supply to the Agent in sufficient copies for all
the Lenders: 
  

	 	(a)	as soon as the same become available, but in any event within 120 days after the end of each of its financial years, its audited consolidated financial statements for that financial year; 

 

	 	(b)	as soon as the same become available, but in any event within 180 days after the end of each of its financial years, the audited financial statements of each Obligor (if statutory accounts are produced for such company)
other than Innospec Fuel Specialties LLC, Innospec Oil Field Chemicals LLC, Innospec Strata Holdings LLC, Innospec Active Chemicals LLC, Strata Control Services, Inc and Independence Oilfield; 

 

	 	(c)	as soon as the same become available, but in any event within 180 days after the end of each of its financial years, if they have been audited, the audited financial statements, or if they have not been audited, the
unaudited financial statements for that financial year of each of Innospec Fuel Specialties LLC, Innospec Oil Field Chemicals LLC, Innospec Strata Holdings LLC, Innospec Active Chemicals LLC, Strata Control Services, Inc and Independence Oilfield;
and 

  

	 	(d)	as soon as the same become available, but in any event within 45 days after the end of each quarter of each of its financial years its consolidated unaudited financial statements for that financial quarter.

  

	20.2	Compliance Certificate 

  

	 	(a)	The Parent shall supply to the Agent, with each set of financial statements delivered pursuant to clause 20.1(a) and 20.1(d), a Compliance Certificate: 

 

	 	(i)	setting out (in reasonable detail) computations as to compliance with clause 21 (Financial covenants), as at the date as at which those financial statements were drawn up; and 

 

	 	(ii)	(in the case of the audited financial statements) confirming, among other things, which companies constitute Material Group Companies and details required by clause 22.18(c) (Guarantors and security).

  

	 	(b)	Each Compliance Certificate shall be signed by a director and another member of Management. 

  

	20.3	Requirements as to financial statements 

  

	 	(a)	Each set of financial statements delivered by the Parent pursuant to clause 20.1 shall be certified by a director of the relevant company as fairly representing its financial condition as at the date as at which those
financial statements were drawn up. 

  

	 	(b)	 All financial statements of the Parent delivered or to be delivered to the Agent under this Agreement shall be prepared in accordance with the
Approved Accounting 

  
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Principles and shall include (in the case of any consolidated financial statements of the Parent) a consolidated cashflow statement. If as a result of a change in accounting principles such
financial statements are required to be prepared on a different basis (and that difference is or could reasonably be expected to be relevant to the calculation of the financial ratios under this Agreement or otherwise material to the interests of
the Finance Parties under this Agreement): 

  

	 	(i)	the Obligors’ Agent shall, as soon as reasonably practicable after becoming aware of that change, so advise the Agent; 

  

	 	(ii)	on request of the Agent, the Obligors’ Agent and the Agent (on behalf of the Lenders) shall negotiate in good faith with a view to agreeing such amendments to clause 21 (Financial covenants) and/or the
definitions of any or all of the terms used therein as are necessary to give the Lenders comparable protection to that contemplated at the date of this Agreement; 

 

	 	(iii)	if amendments satisfactory to the Lenders are agreed by the Obligors’ Agent and the Agent in writing within 30 days of such notification to the Agent, those amendments shall take effect in accordance with the terms
of that agreement; and 

  

	 	(iv)	if such amendments are not so agreed within 30 days, within 15 days after the end of that 30 day period, the Obligors’ Agent shall either: 

 

	 	(A)	deliver to the Agent, in reasonable detail and in a form reasonably satisfactory to the Agent, details of all such adjustments as need to be made to the relevant financial statements in order to bring them into line
with Approved Accounting Principles (any reference in this Agreement to those financial statements shall be construed as a reference to those financial statements as so adjusted); or 

 

	 	(B)	ensure that the relevant financial statements are prepared in accordance with Approved Accounting Principles. 

  

	 	(c)	For all purposes in this Agreement in assessing whether leases should be treated as finance leases or operating leases, the Approved Accounting Principles shall be applied regardless of any subsequent change in
applicable accounting principles. 

  

	20.4	Operating Budget 

 The Parent shall, as soon as reasonably practicable and in any event
not more than 80 days after the beginning of each of its financial years deliver to the Agent (in sufficient copies for the Lenders) its Operating Budget (in substantially the format used by the Parent in its most recent operating budget prior to
the date of this Agreement or (if different) in a format and with a level of information satisfactory to the Agent (acting reasonably)) for such financial year. 
  

	20.5	Information: miscellaneous 

 The Parent shall supply to the Agent (if applicable, in
sufficient copies for all the Finance Parties, if the Agent so requests): 
  

	 	(a)	all documents dispatched by the Parent to its shareholders (or any class of them) or its creditors generally at the same time as they are dispatched; 

  
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	 	(b)	promptly upon becoming aware of them, the details of any litigation, arbitration or administrative proceedings which are current, threatened or pending in respect of or against any member of the Group, and which would,
if adversely determined, have or be reasonably likely to have a Material Adverse Effect; and 

  

	 	(c)	promptly, such further information regarding the financial condition, business and operations of any member of the Group as any Finance Party (through the Agent) may reasonably request, except to the extent that
disclosure of the information would breach any law, regulation, stock exchange requirement or duty of confidentiality. 

  

	20.6	Notification of default 

  

	 	(a)	Each Obligor shall notify the Agent of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence (unless that Obligor is aware that a notification has already been
provided by another Obligor). 

  

	 	(b)	Promptly upon a request by the Agent, the Parent shall supply to the Agent a certificate signed by two of its directors or senior officers on its behalf certifying that no Default is continuing (or if a Default is
continuing, specifying the Default and the steps, if any, being taken to remedy it). 

  

	20.7	[Intentionally blank] 

  

	20.8	Know your customer checks 

  

	 	(a)	If: 

  

	 	(i)	the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation made after the date of this Agreement; 

 

	 	(ii)	any change in the status of an Obligor or the composition of the shareholders of an Obligor after the date of this Agreement; or 

  

	 	(iii)	a proposed assignment or transfer by a Lender of any of its rights and obligations under this Agreement to a party that is not a Lender prior to such assignment or transfer, 

obliges the Agent or any Lender (or, in the case of paragraph (iii) above, any prospective new Lender) to comply with “know your
customer” or similar identification procedures in circumstances where the necessary information is not already available to it, each Obligor shall promptly upon the request of the Agent or any Lender supply, or procure the supply of, such
documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or, in the case of the event described in paragraph (iii) above, on behalf of any prospective new Lender)
in order for the Agent, such Lender or, in the case of the event described in paragraph (iii) above, any prospective new Lender to carry out and be satisfied it has complied with all necessary “know your customer” or other similar
checks under all applicable laws and regulations pursuant to the transactions contemplated in the Finance Documents. 
  

	 	(b)	Each Lender shall promptly upon the request of the Agent supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself) in order for the Agent to carry out
and be satisfied it has complied with the results of all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the Finance Documents.

  
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	 	(c)	The Parent shall, by not less than ten Business Days’ prior written notice to the Agent, notify the Agent (which shall promptly notify the Lenders) of its intention to request that one of its Subsidiaries becomes
an Additional Obligor pursuant to clause 25 (Changes to the Obligors). 

  

	 	(d)	Following the giving of any notice pursuant to paragraph (c) above, if the accession of such Additional Obligor obliges the Agent or any Lender to comply with “know your customer” or similar
identification procedures in circumstances where the necessary information is not already available to it, the Parent shall promptly upon the request of the Agent or any Lender supply, or procure the supply of, such documentation and other evidence
as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or on behalf of any prospective new Lender) in order for the Agent or such Lender or any prospective new Lender to carry out and be satisfied
it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the accession of such Subsidiary to this Agreement as an Additional Obligor. 

 

	20.9	[Intentionally blank] 

  

	21	Financial covenants 

  

	21.1	Financial definitions 

 In this clause 21 and in this Agreement: 

Borrowings means, at any time, the outstanding principal, capital or nominal amount for or in respect of Indebtedness for Borrowed
Money 
 EBIT means, in respect of any period, the consolidated net income of the Group for such period: 

 

	 	(a)	before any deduction of corporation tax or other taxes on income or gains 

  

	 	(b)	before any deduction for interest expense (as shown in the relevant accounts) 

  

	 	(c)	before any inclusion of interest income (as shown in the relevant accounts) 

  

	 	(d)	excluding extraordinary or exceptional items of a non-recurring nature including: 

  

	 	(i)	Restructuring Charges, costs and fees incurred in connection with any acquisition (but not consideration paid or payable in respect of such acquisition) 

 

	 	(ii)	adjustments to compensate for the impact of U.S. GAAP acquisition accounting policies and 

  

	 	(iii)	gains or losses on any foreign exchange or derivative instrument (other than those accounted for on a hedge accounting basis) other than the cash impact on closing out the relevant instrument, 

provided that the maximum amount of extraordinary or exceptional items referred to in paragraph (i) of this paragraph (d) which may
be excluded under this paragraph (d) in respect of any financial year of the Parent shall not exceed $20,000,000 or its equivalent in aggregate 

  
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	 	(e)	after deducting (to the extent otherwise included) the amount of net income (or adding back the loss) of any member of the Group (other than the Parent) which is attributable to any third party (not being a member of
the Group) which is a shareholder in such member of the Group 

  

	 	(f)	after deducting (to the extent otherwise included) any gain over book value arising in favour of a member of the Group on the disposal of any asset (not being any disposals made in the ordinary course of trading) during
such period and any gain arising on any revaluation of any asset during such period 

  

	 	(g)	after adding back (to the extent otherwise deducted) any loss against book value incurred by a member of the Group on the disposal of any asset (not being any disposals made in the ordinary course of trading) during
such period and any loss on any revaluation of any asset during such period and 

  

	 	(h)	after substituting pension income statement charges/(credits) for current service costs in accordance with U.S. GAAP as in force at the date of this Agreement. 

EBITDA means, in respect of any period, EBIT for such period adding back (to the extent deducted in calculating EBIT) depreciation and
amortisation of tangible and intangible assets 
 Interest means interest and amounts in the nature of interest paid or payable
in respect of any Indebtedness for Borrowed Money of any member of the Group excluding any interest paid or payable on Indebtedness for Borrowed Money between any member of the Group and any other member of the Group but including, without
limitation: 
  

	 	(a)	the interest element of capital leases 

  

	 	(b)	discount and acceptance fees payable (or deducted) in respect of any Indebtedness for Borrowed Money 

  

	 	(c)	fees payable in connection with the issue or maintenance of any bond, letter of credit, guarantee or other assurance against financial loss which constitutes Indebtedness for Borrowed Money and is issued by a third
party on behalf of a member of the Group (for the avoidance of doubt, this does not include any payment or amortisation of arrangement fees or other up-front fees payable under or in connection with this Agreement or any Fee Letter)

  

	 	(d)	repayment and prepayment penalties or premiums payable or incurred in repaying or prepaying any Indebtedness for Borrowed Money and 

  

	 	(e)	commitment, utilisation and non-utilisation fees payable or incurred in respect of Indebtedness for Borrowed Money 

Interest Payable means, in respect of any period, the aggregate of: 

 

	 	(a)	Interest accrued (whether or not paid or capitalised) during that period and 

  

	 	(b)	the amount of the discount element of any Indebtedness for Borrowed Money amortised during such period 

  
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 in each case, as an obligation of any member of the Group during that period and calculated
on the basis that: 
  

	 	(i)	the amount of Interest accrued will be increased by an amount equal to any amount payable by members of the Group under hedging agreements in relation to that period and 

 

	 	(ii)	the amount of Interest accrued will be reduced by an amount equal to any amount payable to members of the Group under hedging agreements in relation to that period 

Interest Receivable means, in respect of any period, the amount of interest (which for this purpose shall include all interest and
amounts in the nature of interest, including (without limitation) amounts of the type described in paragraphs (a) to (e) (inclusive) of the definition of “Interest” above) accrued due (whether or not received) to members of the
Group (other than by other members of the Group) during such period 
 Net Interest means, in respect of any period, the amount
of Interest Payable during that period less the amount of Interest Receivable during that period 
 Quarter Date means each of
31 March, 30 June, 30 September and 31 December 
 Relevant Period means each period of 12 months ending on the
last day of each Quarter Date 
 Total Net Debt means, at any time, the aggregate outstanding principal or capital amount of
all Indebtedness for Borrowed Money of the Group calculated on a consolidated basis, but, for the avoidance of doubt, (1) excluding any Indebtedness for Borrowed Money between any member of the Group and any other member of the Group and
(2) excluding Indebtedness for Borrowed Money incurred under any Finance Document in respect of any guarantee or documentary letter of credit issued by a bank or financial institution and (3) subtracting the aggregate amount of cash at
hand and at bank and Cash Equivalents of the Group at such time provided that: 
  

	 	(a)	in the case of capital leases referred to in the definition of Financial Indebtedness, only the capitalised value of any items falling thereunder as determined in accordance with Approved Accounting Principles shall be
included and 

  

	 	(b)	in the case of guarantees referred to in the definition of Financial Indebtedness, any items falling thereunder shall not be included to the extent relating to indebtedness of another member of the Group already
included in this calculation. 

  

	21.2	Financial condition 

 The Parent shall ensure that: 

 

	 	(a)	Leverage: The ratio of Total Net Debt on the last day of each Relevant Period ending on each Quarter Date to EBITDA for the Relevant Period ending on each such Quarter Date (subject to clause 21.3) shall not be
greater than 3.0:1.0; and 

  

	 	(b)	Interest Cover: The ratio of EBITDA to Net Interest in respect of each Relevant Period shall not be less than 4.0:1.0. 

  
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	21.3	Financial testing 

  

	 	(a)	The financial covenants set out in clause 21.2 shall be tested by reference to each of the financial statements delivered pursuant to clause 20.1 (Financial statements) and/or each Compliance Certificate delivered
pursuant to clause 20.2 (Compliance Certificate). 

  

	 	(b)	For the purpose of testing the ratio set out in clause 21.2(a), EBITDA for a Relevant Period shall also: 

  

	 	(i)	(where an acquisition of any business or shares permitted pursuant to clause 22.16 (Acquisitions and investments) and clause 22.15(c) (Joint Ventures and Minority Investments) (Relevant Permitted
Acquisition) has been made on a date (Acquisition Date) during that Relevant Period) have added to it an amount representing the Parent’s good faith estimate (as certified to the Agent by Management together with reasonable
supporting evidence and calculations) of the EBITDA contribution of the shares or business comprising the Relevant Permitted Acquisition for the period from the start of that Relevant Period to the Acquisition Date but only to the extent that such
amount would be included in the consolidated profit and loss statement of the Group and for this purpose, the definitions of EBIT and EBITDA in clause 21.1 shall be applied, mutatis mutandis, to the company(ies) or business comprising the Relevant
Permitted Acquisition; and/or 

  

	 	(ii)	(where a disposal of all or substantially all of the shares or all or substantially all of the assets of a member of the Group (Relevant Disposal) has been made by a member of the Group on a date (Disposal
Date) during that Relevant Period) have deducted from it an amount representing the Parent’s good faith estimate (as certified to the Agent by the Management together with reasonable supporting evidence and calculations) of EBITDA
attributable to the company(ies) or business comprising the Relevant Disposal for the period from the start of that Relevant Period to the Disposal Date and for this purpose the definitions of EBIT and EBITDA in clause 21.1 shall be applied, mutatis
mutandis, to the company(ies) or business comprising the Relevant Disposal. 

  

	22	General undertakings 

 The undertakings in this clause 22 remain in force from the date
of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force. 
  

	22.1	Authorisations 

 Each Obligor shall promptly: 

 

	 	(a)	obtain, comply with and do all that is necessary to maintain in full force and effect; and 

  

	 	(b)	supply certified copies to the Agent of, 

 any Authorisation required under any law or
regulation of its jurisdiction of incorporation to enable it to perform its obligations under the Finance Documents and to ensure the legality, validity, (subject to the Legal Reservations) enforceability or admissibility in evidence in its
jurisdiction of incorporation of any Finance Document. 

  
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	22.2	Compliance with laws 

 Each Obligor shall comply in all respects with all: 

 

	 	(a)	laws to which it may be subject, if failure so to comply would materially impair its ability to perform its obligations under the Finance Documents; and 

 

	 	(b)	Sanctions. 

  

	22.3	Negative pledge 

  

	 	(a)	No Obligor shall (and each Obligor shall ensure that none of its Subsidiaries will) create or permit to subsist any Security over any of its assets. 

 

	 	(b)	No Obligor shall (and each Obligor shall ensure that none of its Subsidiaries will): 

  

	 	(i)	sell, transfer or otherwise dispose of any of its assets on terms whereby they are or may be leased to or re-acquired by an Obligor or any other member of the Group; 

 

	 	(ii)	sell, transfer or otherwise dispose of any of its receivables on recourse terms; 

  

	 	(iii)	enter into any arrangement under which money or the benefit of a bank or other account may be applied, set-off or made subject to a combination of accounts; or 

 

	 	(iv)	enter into any other preferential arrangement having a similar effect, 

 in circumstances where
the arrangement or transaction is entered into primarily as a method of raising Financial Indebtedness or of financing the acquisition of an asset. 
  

	 	(c)	Paragraphs (a) and (b) above do not apply to: 

  

	 	(i)	liens arising solely by operation of law and in the ordinary course of trading; 

  

	 	(ii)	rights of set-off existing in the ordinary course of trading activities between any member of the Group and its respective suppliers or customers; 

 

	 	(iii)	rights of set-off arising by operation of law or by contract by virtue of the provision to any member of the Group of clearing bank facilities, cash pooling facilities, overdraft facilities or hedging facilities
permitted under this Agreement; 

  

	 	(iv)	any retention of title to goods supplied to any member of the Group where such retention is required by the supplier in the ordinary course of its trading activities and on its standard terms and the goods in question
are supplied on credit; 

  

	 	(v)	any Permitted Transaction; 

  

	 	(vi)	[intentionally blank;] 

  

	 	(vii)	[intentionally blank;] or 

  
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	 	(viii)	Security or Quasi Security existing at the time of acquisition on or over any asset acquired by it after the date of this Agreement or, in the case of a person which becomes a member of the Group after the date of this
Agreement, any Security or Quasi Security existing on or over its assets when it became a member of the Group, in each case, if: 

  

	 	(A)	such Security or Quasi Security was not created in contemplation of or in connection with that acquisition or, as the case may be, it becoming a member of the Group; 

 

	 	(B)	the principal amount secured has not been increased in contemplation of or in connection with that acquisition or, as the case may be, it becoming a member of the Group; and 

 

	 	(C)	such Security or Quasi Security is removed or discharged within six months of the date of such acquisition or, as the case may be, the date on which such person becomes a member of the Group; 

 

	 	(ix)	[intentionally blank;] 

  

	 	(x)	inchoate Security for taxes, assessments or governmental charges or levies not yet due and payable and Security for taxes, assessments or governmental charges or levies, which are being contested in good faith by
appropriate proceedings for which adequate reserves have been established in accordance with U.S. GAAP, which proceedings (or orders entered in connection with such proceedings) have the effect of preventing the forfeiture or sale of the assets
subject to any such Security; 

  

	 	(xi)	Security imposed by any court pursuant to a judgment or award not resulting in an Event of Default and in respect of which the relevant Group Company shall in good faith be initiating an appeal or proceedings for review
in respect of which the court has granted a subsisting stay of execution pending such appeal or proceedings; 

  

	 	(xii)	 Security (A) imposed by law or deposits made in connection therewith in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other types of social security, (B) incurred in the ordinary course of business (or in the case of trade contracts in the ordinary course of trading) to secure the performance of tenders, statutory
obligations (other than excise taxes), surety, stay, customs and appeal bonds, statutory bonds, bids, leases, government contracts, trade contracts, performance and return of money bonds and other similar obligations (exclusive of obligations for
the payment of borrowed money) or (C) arising by virtue of deposits made in the ordinary course of business to secure liability for premiums to insurance carriers; provided that (I) with respect to paragraphs (A), (B) and
(C) hereof, such Security is for amounts not yet due and payable or, to the extent such amounts are so due and payable, such amounts are being contested in good faith by appropriate proceedings for which adequate reserves have been established
in accordance with U.S. GAAP, which proceedings for orders entered in connection with such proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Security, and (II) to the extent such Security
is not imposed by law, such Security shall in no event encumber any property other than cash and Cash Equivalents which have been deposited with such 

  
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security holder or has otherwise been subordinated to the Security securing the Secured Obligations hereunder pursuant to a landlord security waiver and access agreement; 

 

	 	(xiii)	Security in favour of customs and revenues authorities which secure payment of customs duties in connection with the importation of goods to the extent required by law; 

 

	 	(xiv)	any Permitted Factoring and Sale and Leaseback; or 

  

	 	(xv)	any Security or Quasi Security securing indebtedness the principal amount of which (when aggregated with the principal amount of any other indebtedness which has the benefit of Security or Quasi Security given by any
member of the Group other than any permitted under paragraphs (i) to (xiii) above) does not exceed $20,000,000 (or its equivalent in another currency or currencies) at any time. 

 

	22.4	Disposals 

  

	 	(a)	No Obligor shall (and each Obligor shall ensure that none of its Subsidiaries will), enter into a single transaction or a series of transactions (whether related or not) and whether voluntary or involuntary to sell,
lease, transfer or otherwise dispose of any asset. 

  

	 	(b)	Paragraph (a) above does not apply to any sale, lease, transfer or other disposal: 

  

	 	(i)	of assets (other than the Key Properties and shares in any Obligor) made in the ordinary course of trading of the disposing entity; 

  

	 	(ii)	of assets (other than the Key Properties and shares in any Obligor) in exchange for other assets comparable or superior as to type and quality; 

 

	 	(iii)	of assets (other than Key Properties and shares in any Obligor) which are obsolete for the purpose for which such assets are normally utilised or which are no longer required for the purpose of the Business;

  

	 	(iv)	which is a Permitted Transaction; 

  

	 	(v)	[intentionally blank;] 

  

	 	(vi)	[intentionally blank;] 

  

	 	(vii)	[intentionally blank;] 

  

	 	(viii)	of assets (other than Key Properties or shares in any Obligor) where the net disposal proceeds of such assets are reinvested (by the member of the Group making such a disposal) in other assets of a similar nature and
value; 

  

	 	(ix)	leases of assets (including real estate) which are not (in the reasonable opinion of the member of the Group granting such lease) required for the efficient running of its business on arm’s length terms to third
parties and the term of such lease is not more than six years (or if it is more than six years is capable of being terminated at the option of the lessor at least every six years during its term); 

  
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	 	(x)	to which the Majority Lenders have given their prior written consent; 

  

	 	(xi)	[intentionally blank;] 

  

	 	(xii)	[intentionally blank;] 

  

	 	(xiii)	of assets (other than Key Properties or shares in any Obligor) to Joint Ventures or Minority Investments to the extent permitted pursuant to 22.15(c); 

 

	 	(xiv)	of receivables disposed of in connection with a Permitted Factoring and Sale and Leaseback; or 

  

	 	(xv)	of assets (other than Key Properties or shares in any Obligor) where the aggregate fair market value of the assets so sold, leased, transferred or otherwise disposed of by members of the Group (which are not permitted
to be disposed of pursuant to paragraphs (i) to (viii) above) in any financial year of the Parent does not exceed $40,000,000 (or its equivalent in other currencies). 

 

	 	(c)	Any asset disposed of from a member of the Group which is not an Obligor to any other member of the Group which is subject to fixed Security under a Security Document at the time of disposal shall be subject to
equivalent fixed Security under a Security Document following disposal and the relevant Obligor will take all steps (if any) necessary to create, perfect or register such Security and will deliver to the Agent such evidence as the Agent shall
reasonably require of due execution of the relevant Security Document together with a legal opinion satisfactory to the Agent (acting reasonably). 

  

	22.5	Merger 

  

	 	(a)	No Obligor shall (and each Obligor shall ensure that none of the Subsidiaries will) enter into any amalgamation, demerger, merger or corporate reconstruction. 

 

	 	(b)	Clause 22.5(a) does not apply to any Permitted Disposal, any Permitted Acquisition, any Permitted Transaction under paragraphs (b) to (e) of that definition or any amalgamation, demerger, merger or corporate
reconstruction to which all the Lenders have given their prior written consent. 

  

	22.6	Change of business 

 Save for any Permitted Disposal any Permitted Acquisition or any
Permitted Transaction, the Parent shall procure that no substantial change is made to the general nature of the business of the Group taken as a whole from that carried on at the date of this Agreement. 

 

	22.7	Insurance 

 The Parent will ensure that insurances in respect of all the material assets
and material business and material potential liabilities of an insurable nature of the Group as a whole, in each case in a manner and to an extent considered by the Group to be reasonably prudent, are effected and thereafter maintained with
reputable insurers of good standing. Such insurances must: 
  

	 	(a)	provide cover against all risks which are normally insured against by other companies owning or possessing similar assets or carrying on similar business as the Group as a whole; and 

 

	 	(b)	be in such amounts as would in the circumstances be reasonably prudent for the Group as a whole taking into account the size and nature of the business carried on, and the assets owned, by the Group as a whole and the
jurisdictions in which such businesses are carried on and such assets located. 

  
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	22.8	[Intentionally blank] 

  

	22.9	Hedging Arrangements 

  

	 	(a)	Each Obligor will ensure, and each Hedging Bank agrees, that: 

  

	 	(i)	any Hedging Agreement to which it is at any time party will be in the form of the ISDA 1992 Master Agreement or the ISDA 2002 Master Agreement, as the case may be, and will, in the case of the ISDA 1992 Master Agreement
only, provide for Second Method (that is, two way payments) in the event of a termination of any hedging transaction entered into under such Hedging Agreement whether upon a Termination Event or an Event of Default (as defined therein); and
 

  

	 	(ii)	each Hedging Agreement (and any amendment to any Hedging Agreement) shall be delivered to the Agent as soon as reasonably practicable after it has been entered into. 

 

	 	(b)	Each Hedging Bank undertakes that it will not (unless the Majority Creditors have otherwise consented in writing) demand (other than as may be necessary in order to exercise any right to terminate or close out any
hedging transaction as provided in and permitted under (c) below) payment, prepayment or repayment of, or any distribution in respect of, or on account of, any of the obligations of the relevant Obligor to it under any Hedging Agreement to
which it is party in cash or in kind except: 

  

	 	(i)	for payments arising under the terms of any Hedging Agreement to which it is party; 

  

	 	(ii)	for the proceeds of enforcement of the Security Documents received and applied in the order permitted by clause 29.12 (Application of Proceeds by Security Agent); and/or 

 

	 	(iii)	payments due under any Hedging Agreement to which it is a party which has been terminated or closed-out by the relevant Obligor or by the relevant Hedging Bank (and if by the relevant Hedging Bank such termination or
close out is permitted under clause 22.9(d)). 

  

	 	(c)	Each Hedging Bank agrees that if any hedging transaction under any Hedging Agreement to which any Obligor is a party is terminated and a settlement amount or other amount falls due from a Hedging Bank to any Obligor
then, if any of the Transaction Security has become enforceable, that amount shall be paid by such Hedging Bank to the Security Agent and treated as proceeds of enforcement of the Transaction Security for application in the order prescribed by
clause 29.12 (Application of Proceeds by Security Agent). 

  
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	 	(d)	Each Hedging Bank undertakes that it will not (unless the Majority Creditors have otherwise consented in writing) exercise any right to terminate or close out any hedging transaction under any Hedging Agreements to
which it is party prior to its stated maturity (whether by reason of the Obligor counterparty becoming a Defaulting Party or Affected Party thereunder (each as defined therein) or otherwise) unless: 

 

	 	(i)	such Obligor has defaulted on a payment due under such Hedging Agreement, after allowing for any required notice and any applicable days of grace, and such default continues for more than 14 days after notice of such
default being given to the Agent; 

  

	 	(ii)	an Illegality, a Tax Event or a Tax Event upon Merger (each as defined in the ISDA 1992 Master Agreement or the ISDA 2002 Master Agreement, as the case may be) has occurred; 

 

	 	(iii)	the Agent has served a notice under clause 23.18 (Acceleration); 

  

	 	(iv)	an Event of Default under clauses 23.6 (Insolvency) or 23.7 (Insolvency proceedings) of this Agreement (as in force at the date of this Agreement) has occurred; 

 

	 	(v)	all Loans have been prepaid or repaid in full and the Lenders are no longer under any obligation to participate in further Loans; 

  

	 	(vi)	there is a prepayment pursuant to clause 8 (Prepayment and cancellation); provided that the Hedging Bank may only exercise its right to terminate or close out that element of the hedging transaction (if any) which
corresponds to the amount so prepaid; or 

  

	 	(vii)	the parties to the Hedging Agreement have voluntarily agreed to close out any hedging transaction in that Hedging Agreement. 

  

	 	(e)	Each Hedging Bank will, promptly after the Agent has served a notice under clause 23.18 (Acceleration), exercise any and all rights it may have to terminate the hedging transactions under each Hedging Agreement to
which it is party, unless the Agent (acting on the instructions of the Majority Creditors) otherwise agrees or requires. 

  

	 	(f)	Each Hedging Bank agrees that (unless the Majority Creditors have otherwise agreed in writing) it will not enforce any Transaction Security or require any other person to enforce the same in respect of amounts owing
under any Hedging Agreement to which it is party. 

  

	 	(g)	The provisions of this clause 22.9 shall cease to apply after the Loans have been prepaid or repaid in full and the Lenders are under no obligation to participate in further Loans. 

 

	22.10	Indebtedness 

 No Obligor will, and each Obligor will procure that none of its
Subsidiaries will, incur or agree to incur or permit to subsist any Financial Indebtedness other than Permitted Indebtedness or a Permitted Transaction. For this purpose, Permitted Indebtedness means: 

 

	 	(a)	Financial Indebtedness incurred under unsecured settlement facilities (including, without limitation, electronic banking systems, international payments, daylight exposure and UK three day settlement facilities) entered
into by any member of the Group in the ordinary course of its business to enable it to effect its payment obligations; 

  
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	 	(b)	Financial Indebtedness incurred under the Bilateral Facilities provided that the aggregate amount of Bilateral Outstandings (but excluding for these purposes liabilities incurred or outstanding under hedging facilities)
does not at any time exceed $50,000,000 (or its equivalent in other currencies); 

  

	 	(c)	Financial Indebtedness to the extent it is applied immediately following being incurred in repayment and cancellation of Financial Indebtedness outstanding and then only to the extent that such Financial Indebtedness
does not exceed such outstanding Financial Indebtedness to which it is being applied in repayment thereof; 

  

	 	(d)	Financial Indebtedness arising under finance leases and other asset finance arrangements where the aggregate principal or capital amount outstanding does not at any time exceed $20,000,000 (or its equivalent in other
currencies), provided always that operating leases, irrespective of their accounting treatment now or in the future, shall not constitute finance leases or any other asset finance arrangements; and 

 

	 	(e)	any Financial Indebtedness not falling within paragraphs (a) to (d) above, the aggregate principal amount of which for the Group taken as a whole does not at any time exceed $40,000,000 (or its equivalent in
other currencies). For the purpose of determining whether the monetary limit in this paragraph (e) has been exceeded any guarantee, indemnity or counter-indemnity obligation in respect of Financial Indebtedness falling within this paragraph
(e) shall not be double-counted. 

  

	22.11	[Intentionally blank] 

  

	22.12	Loans 

 No Obligor will and each Obligor will procure that none of its Subsidiaries will,
make or agree to make or permit to be outstanding any loans or grant or agree to grant any credit other than: 
  

	 	(a)	credit arising in the ordinary course of its trading activities; 

  

	 	(b)	loans made or credit given by an Obligor to any other Obligor or by a member of the Group which is not an Obligor to another member of the Group which is not an Obligor; 

 

	 	(c)	loans made or credit given by an Obligor to any Group Company (other than an Obligor) which is a direct or indirect wholly owned Subsidiary of the Parent; 

 

	 	(d)	loans made or credit given by a member of the Group which is not an Obligor which is a direct or indirect wholly owned Subsidiary to a Group Company which is a direct or indirect wholly owned Subsidiary of the Parent;

  

	 	(e)	loans made or credit given by a member of the Group which is not an Obligor to any Obligor which is a direct or indirect wholly owned Subsidiary of the Parent; 

 

	 	(f)	loans made or credit given by an Obligor to a Non-Wholly Owned Subsidiary of such Obligor to the extent that such loans or credit do not cause the limit at clause 22.16 for the relevant financial year to be exceeded;

  
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	 	(g)	loans made or credit given pursuant to any cash pooling arrangements entered into by any Group Company in the ordinary course of its day to day banking arrangements; 

 

	 	(h)	any loan or credit to which the Majority Lenders have given their prior written consent; 

  

	 	(i)	loans made to Joint Ventures or Minority Investments to the extent permitted pursuant to clause 22.15(c); 

  

	 	(j)	any loans made to employees or directors in the ordinary course of business or in connection with any employee share scheme or incentive plan provided that the aggregate principal amount of all such loans and credit
permitted pursuant to this paragraph (j) does not at any time exceed $10,000,000 (or its equivalent in other currencies); 

  

	 	(k)	[intentionally blank]; or 

  

	 	(l)	loans made or credit given by an Obligor to any Group Company (other than an Obligor) not falling within paragraphs (a) to (j) above (inclusive), where the aggregate principal amount does not exceed
$20,000,000 (or its equivalent in other currencies) in any financial year of the Parent. 

  

	22.13	Leasing arrangements 

 No Obligor will, and each Obligor will procure that none of its
Subsidiaries will, enter into or have outstanding any Financial Indebtedness of a type described in paragraph (d) or (i) of the definition of “Financial Indebtedness” in clause 1.1 (Definitions) calculated in accordance with the
Approved Accounting Principles (which, for the avoidance of doubt, shall not include operating leases) except where the aggregate capital element of all future rentals during any financial year of the Parent under all such Financial Indebtedness
(determined in accordance with U.S. GAAP) does not exceed $20,000,000 (or its equivalent in other currencies). 
  

	22.14	Permitted Hedging Transactions 

 No Obligor will, and each Obligor will procure that none
of its Subsidiaries will, enter into any interest rate swap, cap, ceiling, collar or floor or any currency swap, futures, foreign exchange or commodity contract or option other than: 

 

	 	(a)	the Hedging Agreements; or 

  

	 	(b)	for hedging interest rate, currency or commodity exposure entered into by a member of the Group in the ordinary course of its business (and not for speculative purposes). 

 

	22.15	Joint Ventures and Minority Investments 

 No Obligor will, and each Obligor will procure
that none of its Subsidiaries will, (except with the prior written consent of the Majority Lenders), enter into or permit to subsist any Joint Venture or Minority Investment other than: 

 

	 	(a)	any Joint Venture or Minority Investment subsisting at the date of this Agreement; 

  

	 	(b)	commercial contracts entered into in the ordinary course of trading not involving the acquisition of shares or similar investments or interests in partnerships; or 

 

	 	(c)	the acquisition of shares, stocks, securities or other interests in any Joint Venture or Minority Investment or the transfer of assets and/or the making of loans to a Joint Venture or Minority Investment or the giving
of guarantees in respect of the obligations of a Joint Venture or Minority Investment, the aggregate amount of which does not exceed $50,000,000 in any financial year of the Parent and to the extent such investment does not cause the limit at clause
22.16 for the relevant financial year to be exceeded. 

  
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	22.16	Acquisitions and investments 

  

	 	(a)	No Obligor will, and each Obligor shall procure that none of its Subsidiaries will acquire any business or acquire any Subsidiary or the whole or substantially the whole of the assets of any other person or enter into
any agreement so to do. 

  

	 	(b)	Paragraph (a) will not apply to: 

  

	 	(i)	acquisitions by a member of the Group of any shares or partnership interests in entities which are at the date of this Agreement (and which at the relevant time remain) its Subsidiaries or in any Subsidiary formed after
the date of this Agreement; 

  

	 	(ii)	any investment in Joint Ventures or Minority Investments which are at the date of this Agreement (and which at the relevant time remain) its Joint Venture or Minority Investment provided that such investment is on
arm’s length terms or is made under the terms of any agreement in existence on the date of this Agreement; 

  

	 	(iii)	any acquisition by a member of the Group pursuant to a disposal permitted under clause 22.4(b)(iii) and any acquisition from net disposal proceeds as contemplated by clause 22.4(b)(ix); 

 

	 	(iv)	a Permitted Transaction; 

  

	 	(v)	(to the extent permitted by 22.15(c)) an investment in a Joint Venture or Minority Investment; 

  

	 	(vi)	[intentionally blank]; 

  

	 	(vii)	[intentionally blank]; and 

  

	 	(viii)	any other acquisition of any business, assets or shares where such acquisition satisfies the following criteria: 

  

	 	(A)	if it is an acquisition of a business or assets (other than shares), such business (or the business for which such assets are to be used) is similar to or connected with (or related to the development of) the Business;

  

	 	(B)	if it is an acquisition of shares, such shares are in a limited liability company which will, upon such acquisition, become a Subsidiary of the Parent; 

 

	 	(C)	the business, assets or shares being acquired have generated positive earnings before interest tax, depreciation and amortisation for a period of 12 months before the acquisition is due to become effective;

  
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	 	(D)	the total consideration (both cash and non-cash, including the amount of indebtedness assumed by the purchaser or any other member of the Group, the amount of indebtedness remaining in the assets acquired and the amount
of any deferred purchase price) for such acquisition does not exceed in any financial year $60,000,000 (or its equivalent in other currencies) in relation to an acquisition entered into at any time after the date of this Agreement;

  

	 	(E)	the total consideration (both cash and non-cash, including the amount of indebtedness assumed by the purchaser or any other member of the Group, the amount of indebtedness remaining in the assets acquired and the amount
of any deferred purchase price) when aggregated with (i) all acquisitions which have been made pursuant to this clause 22.16(b)(viii); (ii) the amount of loans or credit given pursuant to clause 22.12(e), and (iii) the amount of
investments in Joint Ventures or Minority Investments made pursuant to clause 22.15(c) in each case in the financial year in which such acquisition or investment is proposed to be made, does not exceed in any financial year $75,000,000 (or its
equivalent in other currencies); and 

  

	 	(F)	at the time of such acquisition no Event of Default is continuing or would occur as a result of such acquisition. 

  

	22.17	Environmental undertakings 

 Each Obligor will, and will procure that each of its
Subsidiaries will: 
  

	 	(a)	comply with the terms and conditions of all Environmental Approvals and all Environmental Laws applicable to it where failure so to do would have or be reasonably likely to have a Material Adverse Effect and will
implement reasonable procedures to monitor compliance with and contain liability under any Environmental Laws or related to any Hazardous Substances; 

  

	 	(b)	promptly upon receipt of the same after the date of this Agreement, notify the Agent of any claim, notice or other communication served on it in respect of or if it becomes aware of: 

 

	 	(i)	any suspension, revocation or material variation of any Environmental Approval applicable to it (save where such suspension or revocation arises by reason of and is immediately followed by the issue of an Environmental
Approval in substantially the same terms) which would have or be reasonably likely to have a Material Adverse Effect; 

  

	 	(ii)	any breach of any Environmental Laws by a member of the Group which has or is reasonably likely to have a Material Adverse Effect; 

  

	 	(iii)	any material unbudgeted investment by a member of the Group required to maintain, acquire or renew any Environmental Approval; or 

  

	 	(iv)	the issue of any enforcement or prohibition or similar notice by a regulatory authority or receipt by any member of the Group of any complaint, demand, civil claim or enforcement proceeding which has or is reasonably
likely to have a Material Adverse Effect; and 

  

	 	(c)	use all reasonable endeavours to prevent any acts, omissions, events, state of facts or circumstances occurring or being exacerbated which could result in any third party taking any action or making any claim against
any member of the Group under any Environmental Laws or related to any Hazardous Substance where any such action or claim could reasonably be expected to have a Material Adverse Effect. 

  
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	22.18	Guarantors and security 

  

	 	(a)	The Parent shall ensure that (taking into account clause 22.18(e)), any member of the Group which is not a Guarantor which is or becomes a Material Group Company (other than Novoktan GmbH, subject to clause 22.18(j)
below, Innospec Deutschland GmbH and subject to clause 22.30 (Condition subsequent), Independence Oilfield) shall, as soon as reasonably practicable but in any event within three Months after becoming a Material Group Company, become an Additional
Guarantor in accordance with clause 25.4 (Additional Guarantors). 

  

	 	(b)	The Parent shall ensure that (taking into account clause 22.18(e)) at all times the aggregate (without double counting) of (i) EBITDA of the Guarantors (Guarantor EBITDA) and (ii) gross assets of the
Guarantors (determined in each case by reference to the most recent annual unconsolidated financial statements of each of the Guarantors delivered pursuant to clause 20.1 (Financial statements), shall equal or exceed 65% of (as appropriate)
(A) consolidated EBITDA and (B) consolidated gross assets (as applicable) of the Group (as determined by reference to the most recent annual consolidated financial statements of the Parent delivered pursuant to clause 20.1 (Financial
statements)). 

  

	 	(c)	Within 120 days after the last day of each of its financial years the Parent shall deliver to the Agent a certificate addressed to the Agent signed by the Chief Financial Officer and one member of Management confirming
that the Parent is in compliance with paragraph (b) above in relation to the financial year of the Parent ending immediately prior to the delivery of such certificate. 

 

	 	(d)	For these purposes, the calculation of Guarantor EBITDA and gross assets shall be made in accordance with U.S. GAAP and in relation to any Guarantor shall be made on an unconsolidated basis and Guarantor EBITDA shall be
calculated on the same basis as EBITDA in clause 21.1 (Financial definitions) but adjusted so that it is on an unconsolidated basis applicable to the relevant Guarantor only. 

 

	 	(e)	The Parent shall not be required to meet any of the requirements of clauses 22.18(a), 22.18(b), 22.18(c) or 22.18(g) to the extent that it satisfies the Agent (acting reasonably) that it (or a relevant Subsidiary which
would otherwise meet such requirements) cannot meet such requirements: 

  

	 	(i)	by reason of legal or regulatory impediment which are beyond its or any member of the Group’s control (acting reasonably) (including, but not limited to, prohibitions relating to financial assistance or lack of
corporate benefit); 

  

	 	(ii)	without becoming liable to pay taxes, duties or other amounts which, in the opinion of the Agent (on Majority Lenders’ instructions, acting reasonably), are disproportionate to the value or practical benefit of the
Security or guarantee; 

  
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	 	(iii)	because directors of the relevant Subsidiary would be subject to (A) a material risk of civil liability or (B) a reasonably possible risk of any criminal liability based on the advice of its legal counsel if
such Subsidiary was to provide a guarantee and/or Security for the Facilities; or 

  

	 	(iv)	in the case of any Non Wholly Owned Subsidiary, by reason of any applicable restriction contained in any relevant constitutional document, shareholders’ agreement, joint venture agreement or similar agreement.

  

	 	(f)	[Intentionally blank;] 

  

	 	(g)	If required by the Agent (and to the extent permitted under applicable law), each entity which is to become an Additional Obligor shall enter into Security Documents(s) in favour of the Security Agent for the benefit of
the Finance Parties (or, if applicable, directly in favour of the Finance Parties) over all its assets, business and undertaking as Security for all indebtedness under the Finance Documents, such Security to provide (to the extent permissible and
practicable under applicable law) equivalent security over such assets, business and undertaking (together Relevant Assets) as granted to the Security Agent (or, as applicable, the Finance Parties) by Group Companies with similar Relevant Assets
incorporated in the same jurisdiction as such Additional Obligor and, if such Additional Obligor is incorporated in a jurisdiction in which no other Group Company incorporated in that jurisdiction with similar Relevant Assets has granted Security.
The Security Documents shall be in such form and substance as (following consultation with the Obligors’ Agent) may be reasonably required by the Agent (having due regard to the practicality and costs involved in taking any such Security).

  

	 	(h)	Notwithstanding the provisions of paragraph (g) above, if a proposed Additional Obligor is required to become an Additional Guarantor as a result of the provisions of paragraph (a) above and without such
Additional Obligor providing Transaction Security other Guarantors which together satisfy the requirements of paragraph (b) above have all provided Transaction Security in accordance with the provisions of this Agreement (which Transaction
Security continues to remain in place) then such proposed Additional Obligor shall not be required to give any Transaction Security. 

  

	 	(i)	No member of the Group that is not a U.S. Obligor shall, notwithstanding any provision to the contrary in any Finance Document, be required to give a guarantee or create any Transaction Security in respect of the
obligations of any U.S. Borrower or U.S. Bilateral Borrower that would result in any “deemed dividend” to any U.S. Obligor or U.S. Bilateral Borrower pursuant to the Internal Revenue Code and the regulations promulgated and the judicial
and administrative decisions rendered under it. 

  

	 	(j)	If at any time: 

  

	 	(i)	the gross assets of Innospec Deutschland GmbH account for more than 7.5% of the consolidated gross assets of the Group; or 

  

	 	(ii)	the EBITDA of Innospec Deutschland GmbH (Innospec Deutschland EBITDA) accounts for more than 7.5% of the EBITDA of the Group, 

(and for this purpose the calculation of Innospec Deutschland EBITDA and gross assets, shall be calculated in accordance with paragraphs
(b)(i) to (D) of the definition of Material Group Company, save for references to Subsidiary EBITDA shall be 

  
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construed as references to Innospec Deutschland EBITDA and references to Subsidiary shall be construed as references to Innospec Deutschland GmbH and its Subsidiaries) then the Parent shall
ensure, as soon as reasonably practicable but in any event within three Months after Innospec Deutschland GmbH first satisfying either of the tests specified in paragraphs (i) or (ii) above, Innospec Deutschland GmbH accedes to this
Agreement as an Additional Guarantor in accordance with clause 25.4 (Additional Guarantors). 
  

	22.19	Pari passu ranking 

 Each Obligor will ensure that its payment obligations under each of
the Finance Documents rank and will at all times rank at least pari passu in right and priority of payment with all its other present and future unsecured and unsubordinated indebtedness (actual or contingent), except indebtedness preferred solely
by operation of law. 
  

	22.20	Accounting Reference Date 

  

	 	(a)	The Parent shall not change its accounting reference date from 31 December and shall not change the duration of any of its financial years unless the Majority Lenders have given their prior written consent to any
such change. 

  

	 	(b)	The Parent shall ensure that the financial year of each of its Subsidiaries shall be the same as its own (or in the case of a Subsidiary which is acquired after the Second Restatement Date, such Subsidiary changes its
financial year end to coincide with the Parent’s financial year end within three months of such acquisition). 

  

	22.21	Federal Reserve Regulations 

 The Obligors’ Agent shall procure that the Facilities
are used without violating Regulations T, U and X. 
  

	22.22	[Intentionally blank] 

  

	22.23	Compliance with U.S. Regulations 

 No Obligor shall (and the Parent shall ensure
that no other member of the Group will) become an investment company or an affiliated person of or promoter or principal underwriter for an investment company, as such terms are defined in the Investment Company
Act of 1940. Neither the making of the Loan, or the application of the proceeds or repayment of any Loan by any U.S. Group Member nor the consummation of the other transactions contemplated by this agreement will violate any provision of such act or
any rule, regulation or order of the SEC under the Investment Company Act of 1940. 
  

	22.24	Sanctions 

 No member of the Group may: 

 

	 	(a)	use, lend, contribute or otherwise make available any part of the proceeds of any Utilisation or other transaction contemplated by the Finance Documents directly or indirectly: 

 

	 	(i)	for the purpose of financing any trade, business or other activities involving, or for the benefit of, any Restricted Party; or 

  

	 	(ii)	in any other manner that would reasonably be expected to result in any person being in breach of any Sanctions or becoming a Restricted Party; 

  
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	 	(b)	engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or breaches or attempts to breach, directly or indirectly, any Sanctions applicable to it; or 

 

	 	(c)	fund all or part of any payment in connection with a Finance Document out of proceeds derived from business or transactions with a Restricted Party, or from any action which is in breach of any Sanctions.

  

	22.25	[Intentionally blank] 

  

	22.26	Anti-money laundering 

 At all times from the date of this Agreement throughout the term
of the Facilities, to the best knowledge of each Obligor (based upon reasonable inquiry by such Obligor), none of the funds of such Obligor that are used to pay the Facilities shall be derived from any unlawful activity. 

 

	22.27	Security 

 Each Obligor shall, at its own expense, take all such action and shall ensure
that each of its subsidiaries shall, at its own expense, take all such action: 
  

	 	(a)	as the Agent or the Security Agent may require (acting reasonably) for the purpose of perfecting or protecting the Finance Parties’ rights under and preserving the Security intended to be created or evidenced by
any of the Security Documents; and 

  

	 	(b)	(as the Agent or the Security Agent may require following the making of any declaration pursuant to clause 23.18 (Acceleration)) for facilitating the realisation of any such Security or any part thereof.

  

	22.28	[Intentionally blank] 

  

	22.29	Compliance with Non-Qualifying Bank Rules 

 Each Swiss Obligor shall at all times ensure
that it complies with the Non-Qualifying Bank Rules. For purposes of compliance with the Non-Qualifying Bank Rules, the Parent shall assume for the purposes of determining the total number of creditors which are not Qualifying Banks that at all
times there are 10 (ten) Lenders that are not Qualifying Banks under this Agreement. 
  

	22.30	Conditions subsequent 

  

	 	(a)	The Parent shall, within 5 Business Days of the Deferred Consideration Date, ensure that: 

  

	 	(i)	Independence Oilfield accedes to this Agreement as an Additional Guarantor by: 

  

	 	(A)	the Parent delivering to the Agent a duly completed and executed Accession Letter (in form and substance satisfactory to the Agent); and 

  
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	 	(B)	the Agent receiving from the Parent: 

  

	 	1)	all of the documents and other evidence listed in part 2 of schedule 2 (Conditions precedent) in respect of the accession of Independence Oilfield as an Additional Guarantor; and 

 

	 	2)	the New U.S. Security Documents executed by Independence Oilfield, 

 each in form and substance
satisfactory to the Agent. 
  

	 	(b)	The Agent shall notify the Parent and the Lenders promptly upon being satisfied that it has received (in form and substance satisfactory to it) all the documents and other evidence required pursuant to clause 22.30(a)
in respect of the accession of Independence Oilfield as an Additional Guarantor. 

  

	23	Events of Default 

 Each of the events or circumstances set out in clause 23 is an Event
of Default (save for clause 23.18 (Acceleration) and clause 23.19 (U.S. Insolvency)). 
  

	23.1	Non-payment 

 An Obligor does not pay on the due date any amount payable pursuant to a
Finance Document at the place at and in the currency in which it is expressed to be payable unless the Agent is satisfied that such non-payment is due solely to administrative or technical errors or delays in the transmission of funds and payment is
made within three days of its due date. 
  

	23.2	Financial covenants 

 Any requirement of clause 21 (Financial covenants) is not
satisfied. 
  

	23.3	Other obligations 

  

	 	(a)	An Obligor does not comply with any provision of the Finance Documents (other than those referred to in clause 23.1 (Non-payment) and clause 23.2 (Financial covenants). 

 

	 	(b)	Any requirement of clause 22.30 (Conditions subsequent) is not satisfied. 

  

	 	(c)	No Event of Default under clause 23.3(a) will occur if the failure to comply is capable of remedy and is remedied within 14 days of the earlier of the Agent giving notice to the Obligors’ Agent or the relevant
Obligor becoming aware of the failure to comply. 

  

	23.4	Cross default 

  

	 	(a)	Any Financial Indebtedness of any member of the Group is not paid when due nor within any originally applicable grace period. 

  

	 	(b)	Any Financial Indebtedness of any member of the Group is validly declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an event of default (however described).

  
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	 	(c)	Any commitment for any Financial Indebtedness of any member of the Group is validly cancelled or suspended by a creditor of any member of the Group as a result of an event of default (however described).

  

	 	(d)	Any creditor of any member of the Group becomes entitled to declare any Financial Indebtedness of any member of the Group due and payable prior to its specified maturity as a result of an event of default (however
described). 

  

	 	(e)	No Event of Default will occur under this clause 23.4 if the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness falling within paragraphs (a) to (d) above is less than
$10,000,000 (or its equivalent in any other currency or currencies). 

  

	23.5	Misrepresentation 

  

	 	(a)	Any representation or statement made or deemed to be made by an Obligor in the Finance Documents or any other document delivered by or on behalf of any Obligor under or in connection with any Finance Document is or
proves to have been incorrect or misleading in any material respect when made or deemed to be made. 

  

	 	(b)	No Event of Default will occur under paragraph (a) above if the circumstances giving rise to the incorrect or misleading representation or statement are capable of remedy and are remedied within 14 days of the
earlier of the Agent giving notice to the Obligors’ Agent or the relevant Obligor being aware of those circumstances. 

  

	23.6	Insolvency 

  

	 	(a)	A member of the Group (other than a Dormant Company) is unable or admits inability to pay its debts as they fall due, suspends making payments on any of its debts or, by reason of actual or anticipated financial
difficulties, commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness. 

  

	 	(b)	The value of the assets of any Material Group Company is less than its liabilities (taking into account contingent and prospective liabilities). 

 

	 	(c)	A moratorium is declared in respect of any indebtedness of any Material Group Company. 

  

	23.7	Insolvency proceedings 

 Any corporate action, legal proceedings or other formal
procedure or step or, in respect of any proceedings initiated under the Enterprise Act 2002, any procedure or step is taken in relation to: 
  

	 	(a)	the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of any Obligor or Material
Group Company other than a solvent liquidation or reorganisation of any member of the Group which is not an Obligor; 

  

	 	(b)	a composition, compromise, assignment or arrangement with creditors generally or any class of creditors of any Obligor or Material Group Company; 

 

	 	(c)	the appointment of a liquidator (other than in respect of a solvent liquidation of a member of the Group which is not an Obligor), receiver, receiver or manager, administrator, administrative receiver, compulsory
manager or other similar officer in respect of any Obligor or Material Group Company or any of its assets; or 

  

	 	(d)	enforcement of any Security over any asset of any member of the Group, 

  
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 or any analogous procedure or step is taken in any jurisdiction. No Event of Default
will occur under this clause 23.7 if the Majority Lenders (acting reasonably) are satisfied that the relevant corporate action, legal proceedings or other procedure (Relevant Action) is of a frivolous or vexatious nature, is being contested
in good faith and by appropriate proceedings by the relevant member of the Group and that it is reasonably likely that such Relevant Action will be set aside, dismissed or withdrawn within 14 days of being taken or instituted. 

 

	23.8	Creditors’ process 

  

	 	(a)	Any expropriation, attachment, sequestration, distress, execution or enforcement of any Security affects any asset or assets of a Material Group Company having an aggregate value greater than $10,000,000 (or its
equivalent in other currencies). 

  

	 	(b)	No Event of Default under paragraph (a) above will occur if: 

  

	 	(i)	that member of the Group is, in good faith, contesting the expropriation, attachment, sequestration, distress, execution or enforcement by appropriate proceedings diligently pursued with a reasonable prospect of
success; and 

  

	 	(ii)	if those proceedings were adversely determined against that member of the Group, such expropriation, attachment, sequestration, distress, execution or enforcement could not reasonably be expected to have a Material
Adverse Effect; and 

  

	 	(iii)	the expropriation, attachment, sequestration, distress, execution or enforcement is discharged within 30 days. 

  

	23.9	[Intentionally blank] 

  

	23.10	Unlawfulness and Invalidity 

  

	 	(a)	It is or becomes unlawful under any applicable jurisdiction for an Obligor to perform any of its obligations under the Finance Documents (in circumstances or to an extent which could reasonably be expected to have a
Material Adverse Effect) or any Transaction Security created or expressed to be created or evidenced by the Security Documents ceases to be effective. 

  

	 	(b)	Any Security Document fails or ceases to provide effective Security over the assets in respect of which Security was intended to be created by that Security Document in a manner and to an extent which could reasonably
be expected to be materially adverse to the interests of the Finance Parties under the Finance Documents. 

  

	23.11	Repudiation 

 An Obligor repudiates a Finance Document or evidences in writing an
intention to repudiate a Finance Document or any Transaction Security. 

  
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	23.12	[Intentionally blank] 

  

	23.13	Litigation 

 Any litigation, arbitration, or administrative or regulatory proceeding is
commenced by or against a member of the Group which could reasonably be expected to be adversely determined against the relevant member of the Group and, if so determined, could reasonably be expected to have a Material Adverse Effect. 

 

	23.14	Auditor’s qualification 

 The auditors of the Parent qualify their report on the
audited consolidated accounts of the Parent in any manner which is, in the reasonable opinion of the Majority Lenders, materially adverse in the context of the Finance Documents. 

 

	23.15	[Intentionally blank] 

  

	23.16	Material adverse change 

 At any time there occurs an event or circumstance which, in the
reasonable opinion of the Majority Lenders, has, or is reasonably likely to have, a Material Adverse Effect. 
  

	23.17	[Intentionally blank] 

  

	23.18	Acceleration 

 On and at any time after the occurrence of an Event of Default which is
continuing the Agent may, and shall if so directed by the Majority Lenders, by notice to the Obligors’ Agent: 
  

	 	(a)	cancel the Total Commitments whereupon they shall immediately be cancelled; 

  

	 	(b)	declare that all or part of the Loans, together with accrued interest, and all other amounts accrued under the Finance Documents be immediately due and payable, whereupon they shall become immediately due and payable;

  

	 	(c)	declare that all or part of the Loans be payable on demand, whereupon they shall immediately become payable on demand by the Agent on the instructions of the Majority Lenders; and/or 

 

	 	(d)	exercise, or direct the Security Agent to exercise, any or all of its rights, remedies, powers or discretions under any of the Finance Documents (provided that the Agent is not obliged to direct the Security Agent to
take any enforcement action in relation to the Transaction Security unless the Majority Creditors have so directed the Agent). 

  

	23.19	U.S. Insolvency 

 If (i) any Event of Default under clause 23.6 or clause 23.7
occurs in respect of any Borrower that is incorporated or organized in the U.S. (or any state thereof, including the District of Columbia) or (ii) any Event of Default under clause 23.6 or clause 23.7 occurs in respect of any other Borrower in
any case or proceeding commenced or approved under chapter 7 or chapter 11 of the U.S. Bankruptcy Code or any other U.S. federal or state bankruptcy or insolvency law, the Loans made to such Borrower shall be immediately due and payable without
notice from the Agent (together with accrued interest and commission and any other sums owed by such Borrower under this Agreement and the other Finance Documents). 

  
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	24	Changes to the Finance Parties 

  

	24.1	Assignments and transfers by the Lenders 

 Subject to this clause 24, a Lender
(Existing Lender) may: 
  

	 	(a)	assign any of its rights; or 

  

	 	(b)	transfer by novation any of its rights and obligations, 

 under any Finance Document to
another bank or financial institution or to a trust, fund or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (New Lender) (but not to
a member of the Group or an Affiliate of a member of the Group). 
  

	24.2	Conditions of assignment or transfer 

  

	 	(a)	An Existing Lender must consult with the Parent for no less than five Business Days before it may make an assignment or transfer, unless the assignment or transfer is: 

 

	 	(i)	to another Lender or an Affiliate of a Lender, which is a Qualifying Bank or a Permitted Non-Qualifying Bank; or 

  

	 	(ii)	made at a time when the occurrence of an Event of Default is continuing. 

  

	 	(b)	An assignment will only be effective on: 

  

	 	(i)	receipt by the Agent (whether in the Assignment Agreement or otherwise) of written confirmation from the New Lender (in form and substance satisfactory to the Agent) that the New Lender will assume the same obligations
to the other Finance Parties as it would have been under if it was an Original Lender; and 

  

	 	(ii)	performance by the Agent of all “know your customer” or other similar checks under all applicable laws and regulations relating to any person that it is required to carry out in relation to such assignment to
a New Lender, the completion of which the Agent shall promptly notify to the Existing Lender and the New Lender. 

  

	 	(c)	A transfer will only be effective if the procedure set out in clause 24.6 is complied with. 

  

	 	(d)	If: 

  

	 	(i)	a Lender assigns or transfers any of its rights or obligations under the Finance Documents or changes its Facility Office; and 

  

	 	(ii)	as a result of circumstances existing at the date the assignment, transfer or change occurs, an Obligor would be obliged to make a payment to the New Lender or Lender acting through its new Facility Office under clause
13 (Tax gross up and indemnities) or clause 14 (Increased costs), 

 then the New Lender or Lender acting through its new
Facility Office is only entitled to receive payment under those clauses to the same extent as the Existing Lender or Lender acting through its previous Facility Office would have been if the assignment, transfer or change had not occurred. 

 

	 	(e)	 Each New Lender, by executing the relevant Transfer Certificate or Assignment Agreement, confirms, for the avoidance of doubt, that the Agent has
authority to 

  
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execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the
transfer or assignment becomes effective in accordance with this Agreement and that it is bound by that decision to the same extent as the Existing Lender would have been had it remained a Lender. 

 

	24.3	Additional Limitation 

 Notwithstanding the other provisions of this clause 24, if a
Swiss Obligor is a party to this Agreement: 
  

	 	(a)	no Lender may assign or transfer any of its rights or obligations under this Agreement, if as a result of such assignment or transfer a Swiss Obligor would be in breach of the Non-Qualifying Bank Rules; and

  

	 	(b)	the consent of any Swiss Obligor is required for an assignment or transfer by an Existing Lender, unless the assignment or transfer is to a Qualifying Bank or is made at a time after the occurrence of an Event of
Default is continuing. The Swiss Obligor may not withhold or delay its consent to any such assignment or transfer if the Non-Qualifying Bank Rules are met at the time at which such consent is sought. The Borrower will be deemed to have given its
consent five Business Days after the Existing Lender has requested it unless consent is expressly refused by the Swiss Obligor within that time. 

  

	24.4	Assignment or transfer fee 

 The New Lender shall, on the date upon which an assignment
or transfer takes effect, pay to the Agent (for its own account) a fee of £2,500. 
  

	24.5	Limitation of responsibility of Existing Lenders 

  

	 	(a)	Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for: 

 

	 	(i)	the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any other documents; 

  

	 	(ii)	the financial condition of any Obligor; 

  

	 	(iii)	the performance and observance by any Obligor of its obligations under the Finance Documents or any other documents; or 

  

	 	(iv)	the accuracy of any statements (whether written or oral) made in or in connection with any Finance Document or any other document, 

and any representations or warranties implied by law are excluded. 

  
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	 	(b)	Each New Lender confirms to the Existing Lender and the other Finance Parties that it: 

  

	 	(i)	has made (and shall continue to make) its own independent investigation and assessment of the financial condition and affairs of each Obligor and its related entities in connection with its participation in this
Agreement and has not relied exclusively on any information provided to it by the Existing Lender in connection with any Finance Document; and 

  

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

  

	 	(c)	Nothing in any Finance Document obliges an Existing Lender to: 

  

	 	(i)	accept a re-transfer or re-assignment from a New Lender of any of the rights and obligations assigned or transferred under this clause 24; or 

 

	 	(ii)	support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by any Obligor of its obligations under the Finance Documents or otherwise. 

 

	24.6	Procedure for transfer using a Transfer Certificate or an assignment using an Assignment Agreement 

  

	 	(a)	Subject to the conditions set out in clause 24.2 a transfer is effected in accordance with clause 24.6(c) when the Agent executes an otherwise duly completed Transfer Certificate delivered to it by the Existing Lender
and the New Lender. The Agent shall, subject to clause 24.6(b), as soon as reasonably practicable after receipt by it of a duly completed Transfer Certificate appearing on its face to comply with the terms of this Agreement and delivered in
accordance with the terms of this Agreement, execute that Transfer Certificate. 

  

	 	(b)	The Agent shall only be obliged to execute a Transfer Certificate delivered to it by the Existing Lender and the New Lender once it is satisfied it has complied with all necessary “know your customer” or other
similar checks under all applicable laws and regulations in relation to the transfer to such New Lender. 

  

	 	(c)	Subject to clause 24.11 (Pro rata interest settlement), on the Transfer Date: 

  

	 	(i)	to the extent that in the Transfer Certificate the Existing Lender seeks to transfer by novation its rights and obligations under the Finance Documents each of the Obligors and the Existing Lender shall be released from
further obligations towards one another under the Finance Documents and their respective rights against one another under the Finance Documents shall be cancelled (being the Discharged Rights and Obligations); 

 

	 	(ii)	each of the Obligors and the New Lender shall assume obligations towards one another and/or acquire rights against one another which differ from the Discharged Rights and Obligations only insofar as that Obligor and the
New Lender have assumed and/or acquired the same in place of that Obligor and the Existing Lender; 

  
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	 	(iii)	the Agent, the Arranger, the New Lender and other Lenders shall acquire the same rights and assume the same obligations between themselves as they would have acquired and assumed had the New Lender been an Original
Lender with the rights and/or obligations acquired or assumed by it as a result of the transfer and to that extent the Agent, the Arranger and the Existing Lender shall each be released from further obligations to each other under the Finance
Documents; and 

  

	 	(iv)	the New Lender shall become a Party as a Lender. 

  

	 	(d)	Subject to the conditions set out in clause 24.2 an assignment may be effected in accordance with clause 24.6(f) when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing
Lender and the New Lender. The Agent shall, subject to clause 24.6(e), as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in
accordance with the terms of this Agreement, execute that Assignment Agreement. 

  

	 	(e)	The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender once it is satisfied it has complied with all necessary “know your customer” or
other similar checks under all applicable laws and regulations in relation to the assignment to such New Lender. 

  

	 	(f)	Subject to clause 24.11 (Pro rata interest settlement), on the Transfer Date: 

  

	 	(i)	the Existing Lender will assign absolutely to the New Lender the rights under the Finance Documents expressed to be the subject of the assignment in the Assignment Agreement; 

 

	 	(ii)	the Existing Lender will be released by each Obligor and the other Finance Parties from the obligations owed by it (Relevant Obligations) and expressed to be the subject of the release in the Assignment
Agreement; and 

  

	 	(iii)	the New Lender shall become a Party as a Lender and will be bound by obligations equivalent to the Relevant Obligations. 

  

	 	(g)	Lenders may utilise procedures other than those set out in this clauses 24.6(d) to 24.6(f) (inclusive) to assign their rights under the Finance Documents (but not, without the consent of the relevant Obligor or unless
in accordance with clauses 24.6(a) to 24.6(c) (inclusive)), to obtain a release by that Obligor from the obligations owed to that Obligor by the Lenders nor the assumption of equivalent obligations by a New Lender) provided that they comply with the
conditions set out in clause 24.2. 

  

	24.7	Copy of Transfer Certificate or Assignment Agreement or Increase Confirmation to Parent 

The Agent shall, as soon as reasonably practicable after it has executed a Transfer Certificate or an Assignment Agreement or Increase
Confirmation send to the Parent a copy of that Transfer Certificate or Assignment Agreement or Increase Confirmation. 
  

	24.8	Register 

 The Agent shall maintain at one of its offices a copy of each Transfer
Certificate, Assignment Agreement and Increase Confirmation delivered to it and a register (Register) for the 

  
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recording of the names and addresses of each Lender and the Commitments of and obligations owing to each Lender. The Agent shall update the Register on each Transfer Date and on each date that it
signs an Increase Confirmation. The Register shall be available for inspection by each Borrower at any reasonable time and from time to time upon reasonable prior notice. 
  

	24.9	Disclosure of information 

 Any Finance Party may disclose: 

 

	 	(a)	to any of its Affiliates and Related Funds and any of its or their officers, directors, employees, professional advisers, auditors, partners and Representatives such Confidential Information as that Finance Party shall
consider appropriate if any person to whom the Confidential Information is to be given pursuant to this paragraph (a) is informed in writing of its confidential nature and that some or all of such Confidential Information may be price-sensitive
information except that there shall be no such requirement to inform if the recipient is subject to professional obligations to maintain the confidentiality of the information or is otherwise bound by requirements of confidentiality in relation to
the Confidential Information; 

  

	 	(b)	to any person: 

  

	 	(i)	to (or through) whom that Lender assigns or transfers (or may potentially assign or transfer) all or any of its rights and obligations under one or more Finance Documents or which succeeds (or which may potentially
succeed) it as Agent or Security Agent and, in each case, to any of that person’s Affiliates, Related Funds, Representatives and professional advisers; 

  

	 	(ii)	with (or through) whom that Lender enters into (or may potentially enter into), whether directly or indirectly, any sub participation in relation to, or any other transaction under which payments are to be made by
reference to, one or more Finance Documents and/or one or more Obligors and to any of that person’s Affiliates, Related Funds, Representatives and professional advisers; 

 

	 	(iii)	appointed by any Finance Party or by a person to whom clause 24.9(b)(i) or 24.9(b)(ii) applies to receive communications, notices, information or documents delivered pursuant to the Finance Documents on its behalf
(including, without limitation, any person appointed under clause 26.16(e) (Relationship with the Lenders, Bilateral Banks and Hedging Banks)); 

  

	 	(iv)	who invests in or otherwise finances (or may potentially invest in or otherwise finance), directly or indirectly, any transaction referred to in paragraph (i) or (ii) above; 

 

	 	(v)	to whom information is required or requested to be disclosed by any court of competent jurisdiction or any governmental, banking, taxation or other regulatory authority or similar body, the rules of any relevant stock
exchange or pursuant to any applicable law or regulation; 

  

	 	(vi)	to whom or for whose benefit that Finance Party charges, assigns or otherwise creates Security (or may do so) pursuant to clause 24.16; 

  
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	 	(vii)	to whom information is required to be disclosed in connection with, and for the purposes of, any litigation, arbitration, administrative or other investigations, proceedings or disputes; 

 

	 	(viii)	who is a Party; or 

  

	 	(ix)	with the consent of the Parent, 

 in each case, such Confidential Information as that Finance
Party shall consider appropriate if: 
  

	 	(A)	in relation to paragraphs (i), (ii) or (iii) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality Undertaking except that there shall be no requirement for a
Confidentiality Undertaking if the recipient is a professional adviser and is subject to professional obligations to maintain the confidentiality of the Confidential Information; 

 

	 	(B)	in relation to paragraph (iv) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality Undertaking or is otherwise bound by requirements of confidentiality in
relation to the Confidential Information they receive and is informed that some or all of such Confidential Information may be price-sensitive information; or 

  

	 	(C)	in relation to paragraphs (v), (vi) and (vii) above, the person to whom the Confidential Information is to be given is informed of its confidential nature and that some or all of such Confidential Information
may be price-sensitive information except that there shall be no requirement to so inform if, in the opinion of that Finance Party, it is not practicable so to do in the circumstances; 

 

	 	(c)	to any person appointed by that Finance Party or by a person to whom paragraph (b)(i) or (b)(ii) above applies to provide administration or settlement services in respect of one or more of the Finance Documents
including without limitation, in relation to the trading of participations in respect of the Finance Documents, such Confidential Information as may be required to be disclosed to enable such service provider to provide any of the services referred
to in this paragraph if the service provider to whom the Confidential Information is to be given has entered into a confidentiality agreement substantially in the form of the LMA Master Confidentiality Undertaking for Use With
Administration/Settlement Service Providers or such other form of confidentiality undertaking agreed between the Parent and the relevant Finance Party; 

  

	 	(d)	any Finance Party may disclose to any of its Affiliates and any other person with (or through) whom that Finance Party enters into (or may potentially enter into) any securitisation (or similar transaction of broadly
equivalent economic effect) of that Lender’s rights or obligations under the Finance Documents, information about the size and term of the Facilities and the name of each of the Obligors as that Finance Party shall consider appropriate; and

  

	 	(e)	 to any rating agency (including its professional advisers) such Confidential Information as may be required to be disclosed to enable such rating
agency to carry out its normal rating activities in relation to the Finance Documents and/or the 

  
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Obligors if the rating agency to whom the Confidential Information is to be given is informed of its confidential nature and that some or all of such Confidential Information may be
price-sensitive information. 

  

	24.10	Disclosure to numbering service providers 

  

	 	(a)	Any Finance Party may disclose to any national or international numbering service provider appointed by that Finance Party to provide identification numbering services in respect of this Agreement, the Facilities and/or
one or more Obligors the following information: 

  

	 	(i)	names of Obligors; 

  

	 	(ii)	country of domicile of Obligors; 

  

	 	(iii)	place of incorporation of Obligors; 

  

	 	(iv)	date of this Agreement; 

  

	 	(v)	clause 40 (Governing law); 

  

	 	(vi)	the names of the Agent and each Arranger; 

  

	 	(vii)	date of each amendment and restatement of this Agreement; 

  

	 	(viii)	amounts of, and name of, the Facilities (and any tranches); 

  

	 	(ix)	amount of Total Commitments; 

  

	 	(x)	currencies of the Facilities; 

  

	 	(xi)	type of Facilities; 

  

	 	(xii)	ranking of Facilities; 

  

	 	(xiii)	the Termination Date; 

  

	 	(xiv)	changes to any of the information previously supplied pursuant to paragraphs (i) to (xiii) above; and 

  

	 	(xv)	such other information agreed between such Finance Party and the Parent, 

 to enable such
numbering service provider to provide its usual syndicated loan numbering identification services. 
  

	 	(b)	The Parties acknowledge and agree that each identification number assigned to this Agreement, the Facilities and/or one or more Obligors by a numbering service provider and the information associated with each such
number may be disclosed to users of its services in accordance with the standard terms and conditions of that numbering service provider. 

  

	 	(c)	Each Obligor represents that none of the information set out in paragraphs (i) to (xv) of paragraph (a) above is, nor will at any time be, unpublished price-sensitive information. 

  
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	 	(d)	The Agent shall notify the Parent and the other Finance Parties of: 

  

	 	(i)	the name of any numbering service provider appointed by the Agent in respect of this Agreement, the Facilities and/or one or more Obligors; and 

 

	 	(ii)	the number or, as the case may be, numbers assigned to this Agreement, the Facilities and/or one or more Obligors by such numbering service provider. 

 

	24.11	Pro rata interest settlement 

 If the Agent has notified the Lenders that it is able to
distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to clause 24.6 the Transfer Date of which, in each case, is after the date of such notification and is not on
the last day of an Interest Period): 
  

	 	(a)	any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer
Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of
the dates which falls at six Monthly intervals after the first day of that Interest Period); and 

  

	 	(b)	the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt: 

 

	 	(i)	when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and 

  

	 	(ii)	the amount payable to the New Lender on that date will be the amount which would, but for the application of this clause 24.11, have been payable to it on that date, but after deduction of the Accrued Amounts.

  

	24.12	Confidentiality 

 Each Finance Party agrees to keep all Confidential Information
confidential and not to disclose it to anyone, save to the extent permitted by clause 24.9 and clause 24.10, and to ensure that all Confidential Information is protected with security measures and a degree of care that would apply to its own
confidential information. 
  

	24.13	Banking secrecy and data protection legislation 

 Each Obligor expressly releases, to the
extent permitted by any relevant laws, each Finance Party from any confidentiality obligation and any restrictions on banking secrecy or any data protection legislation (with regard to any data and/or information directly or indirectly relating to
any Finance Document), to the extent required for the: 
  

	 	(a)	execution, performance, funding and administration required; 

  

	 	(b)	exercise of its rights; 

  

	 	(c)	fulfilment of its obligations; and/or 

  

	 	(d)	preparation and negotiation of potential changes to the Lenders including any transfer of such data and/or information abroad, 

under any Finance Documents. 

  
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	24.14	Accession of Bilateral Banks 

 The Parent shall procure that any person which is, or is
to be, a Bilateral Bank and which person is not also a Lender will accede to this Agreement as a Bilateral Bank by executing an Accession Letter. 
  

	24.15	Accession of Hedging Banks 

 The Parent shall procure that any person which is, or is to
be, a Hedging Bank and which person is not also a Lender will accede to this Agreement as a Hedging Bank by executing an Accession Letter. 
  

	24.16	Security over Lenders’ rights 

  

	 	(a)	In addition to the other rights provided to Lenders under this clause 24, each Lender may without consulting with or obtaining consent from any Obligor at any time charge, assign or otherwise create Security in or over
(whether by way of collateral or otherwise) all or any of its rights under any Finance Document to secure obligations of that Lender including, without limitation: 

 

	 	(i)	any charge, assignment or other Security to secure obligations to any government authority, department or agency including HM Treasury, a federal reserve or central bank; and 

 

	 	(ii)	in the case of any Lender which is a fund, any charge, assignment or other Security granted to any holders (or trustee or representatives of holders) of obligations owed, or securities issued, by that Lender as Security
for those obligations or securities, 

 except that no such charge, assignment or Security shall: 

 

	 	(A)	release a Lender from any of its obligations under the Finance Documents or substitute the beneficiary of the relevant charge, assignment or Security for the Lender as a party to any of the Finance Documents or

  

	 	(B)	require any payments to be made by an Obligor or grant to any person any more extensive rights than those required to be made or granted to the relevant Lender under the Finance Documents. 

 

	24.17	Entire agreement 

 This clause 24 constitutes the entire agreement between the Parties in
relation to the obligations of the Finance Parties under the Finance Documents regarding Confidential Information and supersedes any previous agreement, whether express or implied, regarding Confidential Information. 

 

	24.18	Inside information 

 Each of the Finance Parties acknowledges that some or all of the
Confidential Information is or may be price-sensitive information and that the use of such information may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse and each of the
Finance Parties undertakes not to use any Confidential Information for any unlawful purpose. 

  
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	24.19	Notification of disclosure 

 Each of the Finance Parties agrees (to the extent permitted
by law and regulation) to inform the Parent: 
  

	 	(a)	of the circumstances of any disclosure of Confidential Information made pursuant to clause 24.9(b)(v) except where such disclosure is made to any of the persons referred to in that paragraph during the ordinary course
of its supervisory or regulatory function; and 

  

	 	(b)	upon becoming aware that Confidential Information has been disclosed in breach of this clause 24. 

  

	24.20	Continuing obligations 

 The obligations in this clause 24 are continuing and, in
particular, shall survive and remain binding on each Finance Party for a period of 12 months from the earlier of: 
  

	 	(a)	the date on which all amounts payable by the Obligors under or in connection with the Finance Documents have been paid in full and all Commitments have been cancelled or otherwise cease to be available; and

  

	 	(b)	the date on which such Finance Party otherwise ceases to be a Finance Party. 

  

	24.21	Confidentiality of Funding Rate and Reference Bank Quotations 

  

	 	(a)	The Agent and each Obligor agree to keep each Funding Rate (and, in the case of the Agent, each Reference Bank Quotation) confidential and not to disclose it to anyone, save to the extent permitted by clauses 24.21(b),
24.21(c) and 24.21(d). 

  

	 	(b)	The Agent may disclose: 

  

	 	(i)	any Funding Rate (but not, for the avoidance of doubt, any Reference Bank Quotation) to the relevant Borrower pursuant to clause 9.5 (Notification of rates of interest); and 

 

	 	(ii)	any Funding Rate or any Reference Bank Quotation to any person appointed by it to provide administration services in respect of one or more of the Finance Documents to the extent necessary to enable such service
provider to provide those services if the service provider to whom that information is to be given has entered into a confidentiality agreement substantially in the form of the LMA Master Confidentiality Undertaking for Use With
Administration/Settlement Service Providers or such other form of confidentiality undertaking agreed between the Agent and the relevant Lender or Reference Bank, as the case may be. 

 

	 	(c)	The Agent may disclose any Funding Rate or any Reference Bank Quotation, and each Obligor may disclose any Funding Rate, to: 

  

	 	(i)	 any of its Affiliates and any of its or their officers, directors, employees, professional advisers, auditors, partners and Representatives if any
person to whom that Funding Rate or Reference Bank Quotation is to be given pursuant to this clause 24.21(c)(i) is informed in writing of its confidential nature and that it may be price-sensitive information except that there shall be no such
requirement to so inform if the recipient is subject to professional 

  
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obligations to maintain the confidentiality of that Funding Rate or Reference Bank Quotation or is otherwise bound by requirements of confidentiality in relation to it; 

 

	 	(ii)	any person to whom information is required or requested to be disclosed by any court of competent jurisdiction or any governmental, banking, taxation or other regulatory authority or similar body, the rules of any
relevant stock exchange or pursuant to any applicable law or regulation if the person to whom that Funding Rate or Reference Bank Quotation is to be given is informed in writing of its confidential nature and that it may be price-sensitive
information except that there shall be no requirement to so inform if, in the opinion of the Agent or the relevant Obligor, as the case may be, it is not practicable to do so in the circumstances; 

 

	 	(iii)	any person to whom information is required to be disclosed in connection with, and for the purposes of, any litigation, arbitration, administrative or other investigations, proceedings or disputes if the person to whom
that Funding Rate or Reference Bank Quotation is to be given is informed in writing of its confidential nature and that it may be price-sensitive information except that there shall be no requirement to so inform if, in the opinion of the Agent or
the relevant Obligor, as the case may be, it is not practicable to do so in the circumstances; and 

  

	 	(iv)	any person with the consent of the relevant Lender or Reference Bank, as the case may be. 

  

	 	(d)	The Agent’s obligations in this clause 24.21 relating to Reference Bank Quotations are without prejudice to its obligations to make notifications under clause 9.5 (Notification of rates of interest) provided that
(other than pursuant to clause 24.21(b)(i)) the Agent shall not include the details of any individual Reference Bank Quotation as part of any such notification. 

 

	24.22	Related obligations 

  

	 	(a)	The Agent and each Obligor acknowledge that each Funding Rate (and, in the case of the Agent, each Reference Bank Quotation) is or may be price-sensitive information and that its use may be regulated or prohibited by
applicable legislation including securities law relating to insider dealing and market abuse and the Agent and each Obligor undertake not to use any Funding Rate or, in the case of the Agent, any Reference Bank Quotation for any unlawful purpose.

  

	 	(b)	The Agent and each Obligor agree (to the extent permitted by law and regulation) to inform the relevant Lender or Reference Bank, as the case may be: 

 

	 	(i)	of the circumstances of any disclosure made pursuant to clause 24.21(c)(ii) except where such disclosure is made to any of the persons referred to in that clause during the ordinary course of its supervisory or
regulatory function; and 

  

	 	(ii)	upon becoming aware that any information has been disclosed in breach of clauses 24.21 and 24.22. 

  
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	24.23	No Event of Default 

 No Event of Default will occur under clause 23.3 (Other
obligations) by reason only of an Obligor’s failure to comply with clauses 24.21 and 24.22. 
  

	25	Changes to the Obligors 

  

	25.1	Assignment and transfers by Obligors 

 No Obligor may assign any of its rights or
transfer any of its rights or obligations under the Finance Documents. 
  

	25.2	Additional Borrowers 

  

	 	(a)	Subject to compliance with the provisions of clause 20.8(c) (Know your customer checks) and clause 20.8(d) (Know your customer checks), the Parent may request that any of its wholly owned Subsidiaries becomes
an Additional Borrower. The Subsidiary shall become an Additional Borrower if: 

  

	 	(i)	that Subsidiary: 

  

	 	(A)	is a limited liability company incorporated in England; 

  

	 	(B)	is a U.S. Guarantor and formed or incorporated in a jurisdiction that is the same as a jurisdiction in which an existing U.S. Borrower is formed or incorporated; or 

 

	 	(C)	all the Lenders approve the addition of that Subsidiary; 

  

	 	(ii)	the Obligors’ Agent delivers to the Agent a duly completed and executed Accession Letter; 

  

	 	(iii)	the Subsidiary is (or becomes) a Guarantor prior to or concurrently with becoming a Borrower; 

  

	 	(iv)	(if applicable) the Subsidiary is in compliance with the Non-Qualifying Bank Rules prior to or concurrently with becoming a Swiss Obligor; 

 

	 	(v)	the Obligors’ Agent confirms that no Default is continuing or would occur as a result of that Subsidiary becoming an Additional Borrower; and 

 

	 	(vi)	the Agent has received all of the documents and other evidence listed in part 2 of schedule 2 (Conditions precedent) in relation to that Additional Borrower, each in form and substance satisfactory to the Agent.

  

	 	(b)	The Agent shall notify the Obligors’ Agent and the Lenders promptly upon being satisfied that it has received (in form and substance satisfactory to it) all the documents and other evidence listed in part 2 of
schedule 2 (Conditions precedent). 

  

	25.3	Resignation of a Borrower 

  

	 	(a)	The Parent may request that a Borrower (other than itself) ceases to be a Borrower by delivering to the Agent a Resignation Letter. 

  
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	 	(b)	The Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if: 

  

	 	(i)	no Default is continuing or would result from the acceptance of the Resignation Letter (and the Parent has confirmed this is the case); and 

 

	 	(ii)	the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, 

whereupon that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents. 

 

	25.4	Additional Guarantors 

  

	 	(a)	Subject to compliance with the provisions of clause 20.8(c) (Know your customer checks) and clause 20.8(d) (Know your customer checks), the Parent may request that any of its wholly owned Subsidiaries become
an Additional Guarantor. That Subsidiary shall become an Additional Guarantor if: 

  

	 	(i)	the Parent delivers to the Agent a duly completed and executed Accession Letter; and 

  

	 	(ii)	the Agent has received all of the documents and other evidence listed in part 2 of schedule 2 (Conditions precedent) in relation to that Additional Guarantor, each in form and substance satisfactory to the Agent.

  

	 	(b)	The Agent shall notify the Parent and the Lenders promptly upon being satisfied that it has received (in form and substance satisfactory to it) all the documents and other evidence listed in part 2 of schedule 2
(Conditions precedent). 

  

	25.5	Repetition of Representations 

 Delivery of an Accession Letter constitutes confirmation
by the relevant Subsidiary that the Repeating Representations are true and correct in relation to it as at the date of delivery as if made by reference to the facts and circumstances then existing. 

 

	25.6	Resignation of a Guarantor 

  

	 	(a)	The Parent may request that a Guarantor (other than the Parent or Innospec Finance) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. 

 

	 	(b)	The Agent shall accept a Resignation Letter and notify the Parent and the Lenders of its acceptance if: 

  

	 	(i)	no Default is continuing or would result from the acceptance of the Resignation Letter (and the Parent has confirmed this is the case); 

 

	 	(ii)	all the Lenders have consented to the Parent’s request; and 

  

	 	(iii)	the provisions of clause 22.18(b) (Guarantors and security) would be complied with immediately after the acceptance of the Resignation Letter (and the Parent has confirmed this is the case together with supporting
confirmation from its auditors). 

  
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	26	Role of the Agent, Security Agent and the Arranger 

  

	26.1	Appointment of the Agent 

  

	 	(a)	Each of the Arranger and the Lenders appoints the Agent to act as its agent under and in connection with the Finance Documents. 

  

	 	(b)	Each of the Arranger and the Lenders authorises the Agent to perform the duties, obligations and responsibilities and to exercise the rights, powers, authorities and discretions specifically given to the Agent under or
in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions. 

  

	26.2	Duties of the Agent and Security Agent 

  

	 	(a)	The Agent and the Security Agent shall promptly forward to a Party the original or a copy of any document which is delivered to it in its capacity as Agent or Security Agent for that Party by any other Party.

  

	 	(b)	Subject to clause 26.2(c) below, the Agent shall promptly forward to a Party the original or a copy of any document which is delivered to the Agent for that Party by any other Party. 

 

	 	(c)	Without prejudice to clause 24.7 (Copy of Transfer Certificate, Assignment Agreement or Increase Confirmation to Parent), clause 26.2(b) shall not apply to any Transfer Certificate, any Assignment Agreement or any
Increase Confirmation. 

  

	 	(d)	If the Agent or the Security Agent receives notice from a Party referring to this Agreement, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the other Finance
Parties. 

  

	 	(e)	If the Agent is aware of the non-payment of any principal, interest, commitment fee or other fee payable to a Finance Party (other than the Agent, the Arranger or the Security Agent) under this Agreement, it shall
promptly notify the other Finance Parties. 

  

	 	(f)	The Agent shall have only those duties, obligations and responsibilities expressly specified in the Finance Documents to which it is expressed to be a party (and no others shall be implied). 

 

	26.3	Role of the Arrangers 

 Except as specifically provided in the Finance Documents, no
Arranger has any obligations of any kind to any other Party under or in connection with any Finance Document. 
  

	26.4	No fiduciary duties 

  

	 	(a)	Nothing in any Finance Document constitutes the Agent or the Arranger as a trustee or fiduciary of any other person. 

  

	 	(b)	Neither the Agent nor the Arranger nor the Security Agent shall be bound to account to any Lender, Bilateral Bank or Hedging Banks for any sum or the profit element of any sum received by it for its own account.

  

	 	(c)	The Security Agent shall not have or be deemed to have any duty, obligation or responsibility to, or a relationship of trust or agency with any Obligor. 

  
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	26.5	Certain Security held on Trust 

  

	 	(a)	Each of the Arranger and the Lenders appoints the Security Agent to act as security agent under and in connection with the Finance Documents, provided that in relation to the Swiss Share Pledges, the Lenders appoint the
Security Agent also as their direct representative (direkter Stellvertreter) acting in their name and for their account. 

  

	 	(b)	The Security Agent declares that it shall hold the Transaction Security on trust for the Finance Parties on the terms contained in this Agreement. 

 

	 	(c)	Each of the Parties agrees that the Security Agent shall have only those duties, obligations and responsibilities expressly specified in the Finance Documents to which it is a party (and no others shall be implied).

  

	 	(d)	The Finance Parties shall not have any independent power to enforce, or have recourse to, any of the Transaction Security or to exercise any rights or powers pursuant to the Security Documents except through the
Security Agent. 

  

	 	(e)	The rights, powers and discretions conferred upon the Security Agent by this Agreement shall be supplemental to the Trustee Act 1925 and the Trustee Act 2000 and in addition to any which may be vested in the Security
Agent by general law or otherwise. 

  

	26.6	Disapplication 

 Section 1 of the Trustee Act 2000 shall not apply to the duties of
the Security Agent in relation to the trusts constituted by this Agreement. Where there are any inconsistencies between the Trustee Act 1925 and the Trustee Act 2000 and the provisions of this Agreement, the provisions of this Agreement shall, to
the extent allowed by law, prevail and, in the case of any inconsistency with the Trustee Act 2000, the provisions of this Agreement shall constitute a restriction or exclusion for the purposes of that Act. 

 

	26.7	Business with the Group 

 The Agent and the Arranger may accept deposits from, lend money
to and generally engage in any kind of banking or other business with any member of the Group. 
  

	26.8	Rights and discretions of the Agent and Security Agent 

  

	 	(a)	The Agent and Security Agent may: 

  

	 	(i)	rely on any representation, communication, notice or document believed by it to be genuine, correct and appropriately authorised; 

  

	 	(ii)	assume that: 

  

	 	(A)	any instructions received by it from the Majority Lenders, any Lenders or any group of Lenders are duly given in accordance with the terms of the Finance Documents; and 

 

	 	(B)	unless it has received notice of revocation, that those instructions have not been revoked; and 

  
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	 	(iii)	rely on a certificate from any person: 

  

	 	(A)	as to any matter of fact or circumstance which might reasonably be expected to be within the knowledge of that person; or 

  

	 	(B)	to the effect that such person approves of any particular dealing, transaction, step, action or thing, 

as sufficient evidence that that is the case and, in the case of paragraph (A) above, may assume the truth and accuracy of that
certificate. 
  

	 	(b)	The Agent and the Security Agent may assume (unless it has received notice to the contrary in its capacity as agent for the Lenders or, as trustee or security agent for the Finance Parties) that: 

 

	 	(i)	no Default has occurred (unless, in the case of the Agent, it has actual knowledge of a Default arising under clause 23.1 (Non-payment)); 

 

	 	(ii)	any right, power, authority or discretion vested in any Party or any group of Lenders has not been exercised; and 

  

	 	(iii)	any notice or request made by the Obligors’ Agent (including, without limitation, any Utilisation Request) is made on behalf of and with the consent and knowledge of all the Obligors. 

 

	 	(c)	If the Security Agent receives any instructions or directions from the Agent to take any action in relation to the Transaction Security, the Security Agent may assume that all applicable conditions under the Finance
Documents for taking that action have been satisfied. 

  

	 	(d)	The Agent and the Security Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, tax advisers, surveyors or other professional or experts. 

 

	 	(e)	Without prejudice to the generality of clause 26.8(d) or clause 26.8(f), the Agent and Security Agent may at any time engage and pay for the services of any lawyers to act as independent counsel to the Agent or the
Security Agent (as applicable) (and so separate from any lawyers instructed by the Lenders) if the Agent or the Security Agent (as applicable) in its reasonable opinion deems this to be desirable. 

 

	 	(f)	The Agent and the Security Agent may rely on the advice or services of any lawyers, accountants, tax advisers, surveyors or other professional advisers or experts (whether obtained by the Agent or the Security Agent (as
applicable) or by any other Party) and shall not be liable for any damages, costs or losses to any person, any diminution in value or any liability whatsoever arising as a result of its so relying. 

 

	 	(g)	The Agent and the Security Agent may act in relation to the Finance Documents through its officers, employees and agents and the Agent and the Security Agent shall not: 

 

	 	(i)	be liable for any error of judgment made by any such person; or 

  

	 	(ii)	be bound to supervise, or be in any way responsible for any loss incurred by reason of misconduct, omission or default on the part, of any such person, 

  
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 unless such error or such loss was directly caused by the Agent’s or the Security
Agent’s gross negligence or wilful misconduct. 
  

	 	(h)	Unless a Finance Document expressly provides otherwise, the Agent and the Security Agent may disclose to any other Party any information it reasonably believes it has received as Agent or Security Agent under this
Agreement. 

  

	 	(i)	Notwithstanding any other provision of any Finance Document to the contrary, neither the Agent nor the Arranger nor the Security Agent is obliged to do or omit to do anything if it would or might in its reasonable
opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality. 

  

	 	(j)	Notwithstanding any provision of any Finance Document to the contrary, the Agent is not obliged to expend or risk its own funds or otherwise incur any financial liability in the performance of its duties, obligations or
responsibilities or the exercise of any right, power, authority or discretion if it has grounds for believing the repayment of such funds or adequate indemnity against, or security for, such risk or liability is not reasonably assured to it.

  

	26.9	Instructions 

  

	 	(a)	The Agent and the Security Agent shall: 

  

	 	(i)	unless a contrary indication appears in a Finance Document, exercise or refrain from exercising any right, power, authority or discretion vested in it as Agent or as Security Agent in accordance with any instructions
given to it by: 

  

	 	(A)	all Lenders if the relevant Finance Document stipulates the matter is an all Lender decision; and 

  

	 	(B)	in all other cases, the Majority Lenders; and 

  

	 	(ii)	not be liable for any act (or omission) if it acts (or refrains from acting) in accordance with clause 26.9(a)(i). 

  

	 	(b)	The Agent and the Security Agent shall be entitled to request instructions, or clarification of any instruction, from the Majority Lenders (or, if the relevant Finance Document stipulates the matter is a decision for
any other Lender or group of Lenders, from that Lender or group of Lenders) as to whether, and in what manner, it should exercise or refrain from exercising any right, power, authority or discretion and the Agent or the Security Agent may refrain
from acting unless and until it receives any such instructions or clarification that it has requested. 

  

	 	(c)	Save in the case of decisions stipulated to be a matter for any other Lender or group of Lenders under the relevant Finance Document and unless a contrary indication appears in a Finance Document, any instructions given
to the Agent by the Majority Lenders shall override any conflicting instructions given by any other Parties and will be binding on all Finance Parties save for the Security Agent. 

 

	 	(d)	 The Agent and the Security Agent may refrain from acting in accordance with the instructions of the Majority Lenders (or, if appropriate, a group of
Lenders or, if appropriate, the Majority Creditors) (including any instruction to begin any legal 

  
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actions or proceedings arising out of or in connection with the Finance Documents) until it has received any indemnification and/or security that it may in its absolute discretion require
(whether by way of payment in advance or otherwise) for all costs, losses and liabilities which it may incur in bringing such action or proceedings. 

  

	 	(e)	In the absence of instructions from the Majority Lenders, (or, if appropriate, the Lenders or, if appropriate, the Majority Creditors) the Agent may act (or refrain from taking action) as it considers to be in the best
interest of the Lenders. 

  

	 	(f)	The Agent is not authorised to act on behalf of a Lender (without first obtaining that Lender’s consent) in any legal or arbitration proceedings relating to any Finance Document. This clause 26.9(f) shall not apply
to any legal or arbitration proceeding relating to the perfection, preservation or protection of rights under the Transaction Security Documents or enforcement of the Transaction Security or Transaction Security Documents. 

 

	 	(g)	The Security Agent may, in the absence of any instructions to the contrary, take such action in the exercise of any of its duties under the Finance Documents which in its absolute discretion it considers to be for the
protection and benefit of all of the Finance Parties. 

  

	 	(h)	The Security Agent may, and shall if so directed by the Agent at any time after receipt by the Security Agent of notice pursuant to clause 23.18 (Acceleration), enforce the Transaction Security in accordance with
the terms of the Security Documents. The Security Agent may take such action as in its sole discretion it thinks fit to enforce the Transaction Security. 

  

	26.10	Responsibility for documentation 

 Neither the Agent nor the Arrangers nor the Security
Agent is responsible or liable for: 
  

	 	(a)	the adequacy, accuracy and/or completeness of any information (whether oral or written) supplied by the Agent, the Arranger, the Security Agent, an Obligor or any other person given in or in connection with any Finance
Document or the transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; 

 

	 	(b)	is responsible for the legality, validity, effectiveness, adequacy or enforceability of any Finance Document, the Transaction Security or any other agreement, arrangement or document entered into, made or executed in
anticipation of, under or in connection with any Finance Document or the Transaction Security; or 

  

	 	(c)	is responsible or liable for the exercise of, or the failure to exercise, any judgment, discretion or power given to it by or in connection with any of the Finance Documents, the Transaction Security or any other
agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with, the Finance Documents or the Transaction Security. 

  
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	26.11	Excluded Obligations 

 Notwithstanding anything to the contrary expressed or implied in
the Finance Documents, the Security Agent shall not: 
  

	 	(a)	be bound to enquire as to (i) whether or not any Default has occurred or (ii) the performance, default or any breach by an Obligor of its obligations under any of the Finance Documents; 

 

	 	(b)	subject to clause 28 (Sharing among the Finance Parties) and clause 29.17 (Equalisation Payments), be bound to account to any other Finance Party for any sum or the profit element of any sum received by it for
its own account; 

  

	 	(c)	be bound to disclose to any other person (including but not limited to any Finance Party) (i) any confidential information or (ii) any other information if disclosure would, or might in its reasonable opinion,
constitute a breach of any law or be a breach of fiduciary duty; 

  

	 	(d)	be under any obligations other than those which are specifically provided for in the Finance Documents; or 

  

	 	(e)	have or be deemed to have any duty, obligation or responsibility to, or relationship of trust or agency with, any Obligor. 

  

	26.12	Exclusion of liability 

  

	 	(a)	Without limiting clause 26.12(b) (and without prejudice to any other provision of any Finance Document excluding or limiting the liability of the Agent or the Security Agent), neither the Agent nor the Security Agent
will be liable (including, without limitation, for negligence or any other category of liability whatsoever) for: 

  

	 	(i)	any damages, costs or losses to any person, any diminution in value, or any liability whatsoever arising as a result of taking or not taking any action under or in connection with any Finance Document or the Transaction
Security, unless directly caused by its gross negligence or wilful misconduct; 

  

	 	(ii)	exercising, or not exercising, any right, power, authority or discretion given to it by, or in connection with, any Finance Document, the Transaction Security or any other agreement, arrangement or document entered
into, made or executed in anticipation of, under or in connection with, any Finance Document or the Transaction Security; or 

  

	 	(iii)	without prejudice to the generality of clause 26.12(a)(i) and 26.12(a)(ii), any damages, costs or losses to any person, any diminution in value or any liability whatsoever arising as a result of: 

 

	 	(A)	any act, event or circumstance not reasonably within its control; or 

  

	 	(B)	the general risks of investment in, or the holding of assets in, any jurisdiction, 

 including
(in each case and without limitation) such damages, costs, losses, diminution in value or liability arising as a result of: nationalisation, expropriation or other governmental actions; any regulation, currency restriction, devaluation or
fluctuation; market conditions affecting the 

  
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execution or settlement of transactions or the value of assets (including any Disruption Event); breakdown, failure or malfunction of any third party transport, telecommunications, computer
services or systems; natural disasters or acts of God; war, terrorism, insurrection or revolution; or strikes or industrial action. 
  

	 	(b)	No Party (other than the Agent or the Security Agent) may take any proceedings against any officer, employee or agent of the Agent or the Security Agent, in respect of any claim it might have against the Agent or
Security Agent or in respect of any act or omission of any kind by that officer, employee or agent in relation to any Finance Document or any Transaction Document and any officer, employee or agent of the Agent or the Security Agent, may rely on
this clause. Any third party referred to in this clause 26.12(b) may enjoy the benefit of and enforce the terms of this paragraph in accordance with the provisions of the Contracts (Rights of Third Parties) Act 1999. 

 

	 	(c)	The Agent will not be liable for any delay (or any related consequences) in crediting an account with an amount required under the Finance Documents to be paid by the Agent if the Agent has taken all necessary steps as
soon as reasonably practicable to comply with the regulations or operating procedures of any recognised clearing or settlement system used by the Agent for that purpose. 

 

	 	(d)	The Security Agent shall not be liable for any shortfall which arises on the enforcement of any of the Transaction Security. 

  

	 	(e)	The Security Agent shall not be liable for any failure to: 

  

	 	(i)	require the deposit with it of any deed or document certifying, representing or constituting the title of any Obligor to any of the Charged Property; 

 

	 	(ii)	obtain any licence, consent or other authority for the execution, delivery, legality, validity, enforceability or admissibility in evidence of any of the Finance Documents or the Transaction Security; 

 

	 	(iii)	register, file or record or otherwise protect any of the Security (or the priority of any of the Transaction Security) under any applicable laws in any jurisdiction or to give notice to any person of the execution of
any of the Finance Documents or of the Transaction Security; 

  

	 	(iv)	take, or to require any of the Obligors to take, any steps to perfect its title to any of the Charged Property or to render the Transaction Security effective or to secure the creation of any ancillary Security under
the laws of any jurisdiction; or 

  

	 	(v)	require any further assurances in relation to any of the Security Documents. 

  

	 	(f)	Nothing in this Agreement shall oblige the Agent to carry out any “know your customer” or other checks in relation to any person or any check on the extent to which the transaction contemplated by this
Agreement might be unlawful for any Lender, on behalf of any Finance Party and each Finance Party confirms to the Agent that it is solely responsible for any such checks it is required to carry out and that it may not rely on any statement in
relation to such checks made by the Agent. 

  

	 	(g)	 Without prejudice to any provision of any Finance Document excluding or limiting the Agent’s or the Security Agent’s liability, any
liability of the Agent or the Security Agent 

  
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arising under or in connection with any Finance Document or the Transaction Security shall be limited to the amount of actual loss which has been finally judicially determined to have been
suffered (as determined by reference to the date of default of the Agent or the Security Agent or, if later, the date on which the loss arises as a result of such default) but without reference to any special conditions or circumstances known to the
Agent or the Security Agent at any time which increase the amount of that loss. In no event shall the Agent or the Security Agent be liable for any loss of profits, goodwill, reputation, business opportunity or anticipated saving, or for special,
punitive, indirect or consequential damages, whether or not the Agent or the Security Agent has been advised of the possibility of such loss or damages. 

  

	26.13	Lenders’ and Bilateral Banks’ indemnity to the Agent/Security Agent 

  

	 	(a)	Each Lender and Bilateral Bank shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero)
indemnify the Agent or the Security Agent (as the case may be), within three Business Days of demand, against any cost, loss or liability incurred by the Agent or the Security Agent (as the case may be) (otherwise than by reason of the Agent’s
(or, as the case may be, the Security Agent’s) gross negligence or wilful misconduct) in acting as Agent or Security Agent under the Finance Documents (unless the Agent or Security Agent has been reimbursed by an Obligor pursuant to a Finance
Document). In this clause 26.13 Total Commitments shall include the Bilateral Commitments. 

  

	 	(b)	Subject to clause 26.13(c), the Parent shall immediately on demand reimburse any Lender or any Bilateral Bank for any payment that Lender or Bilateral Bank makes to the Agent pursuant to clause 26.13(a).

  

	 	(c)	Clause 26.13(b) shall not apply to the extent that the indemnity payment in respect of which the Lender or Bilateral Blank claims reimbursement relates to a liability of the Agent to an Obligor. 

 

	26.14	Resignation of the Agent/Security Agent 

  

	 	(a)	The Agent may resign and appoint one of its Affiliates acting through an office in the United Kingdom as successor by giving notice to the Lenders and the Parent. 

 

	 	(b)	Each of the Agent and the Security Agent may resign by giving 30 days’ notice to the Lenders and the Obligors’ Agent, in which case the Majority Lenders (after consultation with the Parent) may appoint a
successor Agent or Security Agent (as the case may be). 

  

	 	(c)	If the Majority Lenders have not appointed a successor Agent or Security Agent (as the case may be) in accordance with paragraph (b) above within 30 days after notice of resignation was given, the Agent (after
consultation with the Obligors’ Agent) may appoint a successor Agent or Security Agent (as the case may be) (acting through an office in the United Kingdom). 

 

	 	(d)	The retiring Agent or retiring Security Agent (as the case may be) shall, at its own cost, make available to the successor Agent or Security Agent (as the case may be) such documents and records and provide such
assistance as the successor Agent or Security Agent (as the case may be) may reasonably request for the purposes of performing its functions as Agent or Security Agent (as the case may be) under the Finance Documents. 

  
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	 	(e)	The Agent’s or the Security Agent’s resignation notice shall only take effect upon the appointment of a successor. 

  

	 	(f)	Upon the appointment of a successor, the retiring Agent or Security Agent (as the case may be) shall be discharged from any further obligation as Agent or Security Agent (as the case may be) in respect of the Finance
Documents (other than its obligations under clause 26.14(d) but shall remain entitled to the benefit of this clause 26. Its successor and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had
if such successor had been an original Party. 

  

	 	(g)	After consultation with the Obligors’ Agent, the Majority Lenders may, by giving 30 days notice to the Agent or Security Agent (as applicable), require it to resign in accordance with paragraph (b) above. In
this event, the Agent or Security Agent (as applicable) shall resign in accordance with paragraph (b) above and the provisions of paragraphs (d) to (f) (inclusive) above shall apply. 

 

	 	(h)	The Majority Lenders may, by notice to the Security Agent, require it to resign in accordance with paragraph (b) above. In this event, the Security Agent shall resign in accordance with paragraph (b) above and
the provisions of paragraphs (d) to (f) (inclusive) above shall apply. 

  

	 	(i)	The Agent shall resign in accordance with paragraph (b) above (and, to the extent applicable, shall use reasonable endeavours to appoint a successor Agent pursuant to paragraph (c) above) if on or after the
date which is three months before the earliest FATCA Application Date relating to any payment to the Agent under the Finance Documents, either: 

  

	 	(i)	the Agent fails to respond to a request under clause 13.8 (FATCA Information) and the Parent or a Lender reasonably believes that the Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that
FATCA Application Date; 

  

	 	(ii)	the information supplied by the Agent pursuant to clause 13.8 (FATCA Information) indicates that the Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date; or

  

	 	(iii)	the Agent notifies the Company and the Lenders that the Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date, 

and (in each case) the Parent or a Lender reasonably believes that a Party will be required to make a FATCA Deduction that would not be
required if the Agent were a FATCA Exempt Party, and the Parent or that Lender, by notice to the Agent, requires it to resign. 
  

	26.15	Confidentiality 

  

	 	(a)	In acting as agent or trustee for the Finance Parties, the Agent shall be regarded as acting through its agency division and the Security Agent shall be regarded as acting through its trustee division (if separate from
its agency division) each of which shall be treated as a separate entity from any other of its divisions or departments. 

  
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	 	(b)	If information is received by another division or department of the Agent or Security Agent, it may be treated as confidential to that division or department and the Agent or (as the case may be) the Security Agent
shall not be deemed to have notice of it. 

  

	 	(c)	Notwithstanding any other provision of any Finance Document to the contrary, neither the Agent, the Security Agent nor the Arranger are obliged to disclose to any other person (i) any confidential information or
(ii) any other information if the disclosure would or might in its reasonable opinion constitute a breach of any law or a breach of a fiduciary duty. 

  

	26.16	Relationship with the Lenders, Bilateral Banks and Hedging Banks 

  

	 	(a)	The Agent and Security Agent may treat each Lender as a Lender, entitled to payments under this Agreement and acting through its Facility Office unless it has received not less than five Business Days’ prior notice
from that Lender to the contrary in accordance with the terms of this Agreement. 

  

	 	(b)	Each Lender shall supply the Agent with any information that the Security Agent may reasonably specify (through the Agent) as being necessary or desirable to enable the Security Agent to perform its functions as
Security Agent. Each Lender shall deal with the Security Agent exclusively through the Agent and shall not deal directly with the Security Agent. 

  

	 	(c)	The Agent and Security Agent may treat each Bilateral Bank as a Bilateral Bank entitled to payments in respect of the relevant Bilateral Facility unless it has (in its capacity as Agent or Security Agent) received
notice in writing to the contrary from that Bilateral Bank. 

  

	 	(d)	The Agent and Security Agent may treat each Hedging Bank as a Hedging Bank entitled to payments in respect of the relevant Hedging Agreement unless it has (in its capacity as Agent or Security Agent) received notice in
writing to the contrary from that Hedging Bank. 

  

	 	(e)	Any Lender may by notice to the Agent appoint a person to receive on its behalf all notices, communications, information and documents to be made or despatched to that Lender under the Finance Documents. Such notice
shall contain the address, fax number and (where communication by electronic mail or other electronic means is permitted under clause 31.6 (Electronic communication)) electronic mail address and/or any other information required to enable the
transmission of information by that means (and, in each case, the department or officer, if any, for whose attention communication is to be made) and be treated as a notification of a substitute address, fax number, electronic mail address (or such
other information), department and officer by that Lender for the purposes of clause 31.2 (Addresses) and clause 31.6(a)(ii)(Electronic communication) and the Agent shall be entitled to treat such person as the person entitled to receive all such
notices, communications, information and documents as though that person were that Lender. 

  

	26.17	Credit appraisal by the Lenders 

 Without affecting the responsibility of any Obligor for
information supplied by it or on its behalf in connection with any Finance Document, each Finance Party confirms to the Agent, the Security Agent and each Arranger that it has been, and will continue to be, solely responsible for making its own
independent appraisal and investigation of all risks arising under or in connection with any Finance Document including but not limited to: 
  

	 	(a)	the financial condition, status and nature of each member of the Group; 

  
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	 	(b)	the legality, validity, effectiveness, adequacy or enforceability of any Finance Document, any Transaction Security and any other agreement, arrangement or document entered into, made or executed in anticipation of,
under or in connection with any Finance Document or any Transaction Security; 

  

	 	(c)	whether that Lender has recourse, and the nature and extent of that recourse, against any Party or any of its respective assets under or in connection with any Finance Document, the transactions contemplated by the
Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; 

 

	 	(d)	the adequacy, accuracy and/or completeness of any information provided by the Agent, any Party or by any other person under or in connection with any Finance Document, the transactions contemplated by the Finance
Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; and 

 

	 	(e)	the right or title of any person in or to, or the value or sufficiency of any part of, the Charged Property, the priority of any Transaction Security or the existence of any Security affecting the Charged Property.

  

	26.18	Role of Reference Banks 

  

	 	(a)	No Reference Bank is under any obligation to provide a quotation or any other information to the Agent. 

  

	 	(b)	No Reference Bank will be liable for any action taken by it under or in connection with any Finance Document, or for any Reference Bank Quotation, unless directly caused by its gross negligence or wilful misconduct.

  

	 	(c)	No Party (other than the relevant Reference Bank) may take any proceedings against any officer, employee or agent of any Reference Bank in respect of any claim it might have against that Reference Bank or in respect of
any act or omission of any kind by that officer, employee or agent in relation to any Finance Document, or to any Reference Bank Quotation, and any officer, employee or agent of each Reference Bank may rely on this clause 26.18 subject to clause 1.4
(Third party rights) and the provisions of the Third Parties Act. 

  

	 	(d)	A Reference Bank which is not a Party may rely on this clause 26.18, clause 35.2(b) and 35.2(c) (Exceptions) and clauses 24.21, 24.22 and 24.23 subject to clause 1.4 (Third party rights) and the provisions of the Third
Parties Act. 

  

	26.19	Deduction from amounts payable by the Agent 

 If any Party owes an amount to the Agent
under the Finance Documents the Agent may, after giving notice to that Party, deduct an amount not exceeding that amount from any payment to that Party which the Agent would otherwise be obliged to make under the Finance Documents and apply the
amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance Documents that Party shall be regarded as having received any amount so deducted. 

  
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	26.20	Insurance by Security Agent 

 The Security Agent shall not be under any obligation to
insure any of the Charged Property, to require any other person to maintain any insurance or to verify any obligation to arrange or maintain insurance contained in the Finance Documents. The Security Agent shall not be responsible for any loss which
may be suffered by any person as a result of the lack of or inadequacy of any such insurance. Where the Security Agent is named on any insurance policy as an insured party, it shall not be responsible for any loss which may be suffered by reason of,
directly or indirectly, its failure to notify the insurers of any material fact relating to the risk assumed by such insurers or any other information of any kind, unless any Finance Party shall have requested it to do so in writing and the Security
Agent shall have failed to do so within 14 days after receipt of that request. 
  

	26.21	Manner of enforcement of Security 

 Each of the Obligors waives, to the extent permitted
under applicable law, all rights it may otherwise have to require that the Transaction Security be enforced in any particular order or manner or at any particular time or that any sum received or recovered from any person, or by virtue of the
enforcement of any Transaction Security or any other Security, which is capable of being applied in or towards discharge of any of the Secured Obligations is so applied. 
  

	26.22	Winding-up of Trust and Perpetuity Period 

 If the Security Agent, with the approval of
the Majority Lenders, determines that (a) all of the Secured Obligations and all other obligations secured by any of the Security Documents, have been fully and finally discharged and (b) none of the Finance Parties is under any
commitment, obligation or liability (whether actual or contingent) to make Loans or provide other financial accommodation to any Obligor pursuant to the Finance Documents, the trusts set out in this Agreement shall be wound up. At that time unless
already released, the Security Agent shall release, without recourse or warranty, all of the Transaction Security then held by it and the rights of the Security Agent under each of the Security Documents, at which time each of the Security Agent,
the Agent, the Finance Parties and the Obligors shall be released from its obligations in respect of these trusts and the Transaction Security (save for those which arose prior to such winding-up). The perpetuity period under the rule against
perpetuities, if applicable to this Agreement, shall be the period of 125 years from the date of this Agreement. 
  

	26.23	Other Provisions relating to Security Agent 

  

	 	(a)	The Security Agent shall be entitled to carry out all dealings with the Finance Parties through the Agent, to give to the Agent any notice or other communication required to be given by the Security Agent to the Finance
Parties and to rely on a certificate from the Agent as to the amount owed to any of the Finance Parties or by any Obligor. 

  

	 	(b)	The Security Agent may place (at the cost of the Obligors) any of the Finance Documents and any other documents relating to the Transaction Security in any safe custody selected by the Security Agent or with any
financial institution, any company whose business includes the safe custody of documents or any firm of lawyers of good repute and the Security Agent shall not be responsible for, or be required to insure against, any loss incurred in connection
with that deposit. 

  

	 	(c)	The Security Agent may accept without enquiry, and shall not be obliged to investigate, such right and title as each of the Obligors may have to any of the Charged Property and shall not be liable for or bound to
require any Obligor to remedy any defect in its right or title. 

  

	 	(d)	The Security Agent may refrain from doing anything which in its opinion will or may be contrary to any relevant law, directive or regulation of any jurisdiction which would or might otherwise render it liable to any
person, and the Security Agent may do anything which is, in its opinion, necessary to comply with any such law, directive or regulation. 

  
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	26.24	Delegation and Additional Trustees 

  

	 	(a)	The Security Agent may at any time delegate by power of attorney or otherwise to any person for any period, all or any of the rights, powers and discretions vested in it by any of the Finance Documents and such
delegation may be made upon such terms and conditions (including the power to sub-delegate) and subject to such restrictions as the Security Agent may think fit in the interest of the Finance Parties and it shall not be bound to supervise, or be in
any way responsible for any loss incurred by reason of any misconduct or default on the part of any such delegate or sub-delegate; and 

  

	 	(b)	The Security Agent may at any time appoint (and subsequently remove) any person to act as a separate trustee or as a co-trustee jointly with it (i) if it considers such appointment to be in the interests of the
Finance Parties or (ii) for the purposes of conforming to any legal requirements, restrictions or conditions which the Security Agent deems to be relevant or (iii) for obtaining or enforcing any judgment in any jurisdiction, and the
Security Agent shall give prior notice to the Obligors’ Agent and the Agent of any such appointment. Any person so appointed (subject to the terms of this Agreement) shall have such rights, powers and discretions (not exceeding those conferred
on the Security Agent by this Agreement) and such duties and obligations as are conferred or imposed by the instrument of appointment. The remuneration the Security Agent may pay to any such person, and any costs and expenses incurred by such person
in performing its functions pursuant to that appointment shall, for the purposes of this Agreement, be treated as costs and expenses incurred by the Security Agent. 

 

	26.25	Agent’s/Security Agent’s Management Time 

 Any amount payable to the Agent
under clause 15.3 (Indemnity to the Agent), clause 15.4 (Indemnity to the Security Agent), clause 17 (Costs and expenses) and clause 26.13 (Lenders’ and Bilateral Banks’ indemnity to the Agent/Security Agent) shall
include the cost of utilising the Agent’s or Security Agent’s management time or other resources and will be calculated on the basis of such reasonable daily or hourly rates as the Agent or Security Agent (as applicable) may notify to the
Parent and the Lenders, and is in addition to any fee paid or payable to the Agent or Security Agent (as applicable) under clause 12 (Fees). 
  

	27	Conduct of business by the Finance Parties 

 No provision of this Agreement will: 

 

	 	(a)	interfere with the right of any Finance Party to arrange its affairs (tax or otherwise) in whatever manner it thinks fit; 

  

	 	(b)	oblige any Finance Party to investigate or claim any credit, relief, remission or repayment available to it or the extent, order and manner of any claim; or 

 

	 	(c)	oblige any Finance Party to disclose any information relating to its affairs (tax or otherwise) or any computations in respect of Tax. 

  
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	28	Sharing among the Finance Parties 

  

	28.1	Payments to Lenders 

 If a Finance Party (Recovering Finance Party) receives or
recovers any amount from an Obligor other than in accordance with clause 29 (Payment mechanics) (Recovered Amount) and applies that amount to a payment due under the Finance Documents then: 

 

	 	(a)	the Recovering Finance Party shall, within three Business Days, notify details of the receipt or recovery, to the Agent; 

  

	 	(b)	the Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Finance Party would have been paid had the receipt or recovery been received or made by the Agent and distributed in
accordance with clause 29 (Payment mechanics), without taking account of any Tax which would be imposed on the Agent in relation to the receipt, recovery or distribution; and 

 

	 	(c)	the Recovering Finance Party shall, within three Business Days of demand by the Agent, pay to the Agent an amount (Sharing Payment) equal to such receipt or recovery less any amount which the Agent determines may
be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with clause 29.6 (partial payments). 

  

	28.2	Redistribution of payments 

 The Agent shall treat the Sharing Payment as if it had been
paid by the relevant Obligor and distribute it between the Finance Parties (other than the Recovering Finance Party) in accordance with clause 29.6 (partial payments). 
  

	28.3	Recovering Finance Party’s rights 

 On a distribution by the Agent under clause 28.2
of a payment received by a Recovering Finance Party from an Obligor, as between the relevant Obligor and the Recovering Finance Party, an amount of the Recovered Amount equal to the Sharing Payment will be treated as not having been paid by that
Obligor. 
  

	28.4	Reversal of redistribution 

 If any part of the Sharing Payment received or recovered by
a Recovering Finance Party becomes repayable and is repaid by that Recovering Finance Party, then: 
  

	 	(a)	each Sharing Finance Party shall, upon request of the Agent, pay to the Agent for the account of that Recovering Finance Party an amount equal to the appropriate part of its share of the Sharing Payment (together with
an amount as is necessary to reimburse that Recovering Finance Party for its proportion of any interest on the Sharing Payment which that Recovering Finance Party is required to pay) (Redistributed Amount); and 

 

	 	(b)	as between the relevant Obligor and each relevant Sharing Finance Party, an amount equal to the relevant Redistributed Amount will be treated as not having been paid by that Obligor. 

  
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	28.5	Exceptions 

  

	 	(a)	This clause 28 shall not apply to the extent that the Recovering Finance Party would not, after making any payment pursuant to this clause, have a valid and enforceable claim against the relevant Obligor.

  

	 	(b)	A Recovering Finance Party is not obliged to share with any other Finance Party any amount which the Recovering Finance Party has received or recovered as a result of taking legal or arbitration proceedings, if:

  

	 	(i)	it notified the other Finance Parties of the legal or arbitration proceedings; and 

  

	 	(ii)	the other Finance Party had an opportunity to participate in those legal or arbitration proceedings but did not do so as soon as reasonably practicable having received notice or did not take separate legal or
arbitration proceedings. 

  

	 	(c)	This clause 28 shall not apply to the extent that the Recovering Finance Party is a Bilateral Bank or a Hedging Bank and the amounts recovered are amounts which are owing under a Bilateral Facility or, as the case may
be, a Hedging Agreement and are received at a time when no notice has been served by the Agent under clause 23.18 (Acceleration). 

  

	29	Payment mechanics 

  

	29.1	Payments to the Agent 

  

	 	(a)	On each date on which an Obligor or a Lender is required to make a payment under a Finance Document, that Obligor or Lender shall make the same available to the Agent (unless a contrary indication appears in a Finance
Document) for value on the due date at the time and in such funds specified by the Agent as being customary at the time for settlement of transactions in the relevant currency in the place of payment. 

 

	 	(b)	Payment shall be made to such account in the principal financial centre of the country of that currency (or, in relation to euro, in a principal financial centre in such Participating Member State or London as specified
by the Agent) with such bank as the Agent, in each case, specifies. 

  

	29.2	Distributions by the Agent 

 Each payment received by the Agent under the Finance
Documents for another Party shall, subject to clause 29.3 and clause 29.4 be made available by the Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in the case of a Lender, for
the account of its Facility Office), to such account as that Party may notify to the Agent by not less than five Business Days’ notice with a bank as specified by that Party in the principal financial centre of the country of that currency (or,
in relation to euro, in the principal financial centre of a Participating Member State or London as specified by that Party). 
  

	29.3	Distributions to an Obligor 

 The Agent may (with the consent of the Obligor or in
accordance with clause 30 (Set-off)) apply any amount received by it for that Obligor in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance Documents or in or towards
purchase of any amount of any currency to be so applied. 

  
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	29.4	Clawback 

  

	 	(a)	Where a sum is to be paid to the Agent under the Finance Documents for another Party, the Agent is not obliged to pay that sum to that other Party (or to enter into or perform any related exchange contract) until it has
been able to establish to its satisfaction that it has actually received that sum. 

  

	 	(b)	Unless clause 29.4(c) applies, if the Agent pays an amount to another Party and it proves to be the case that the Agent had not actually received that amount, then the Party to whom that amount (or the proceeds of any
related exchange contract) was paid by the Agent shall on demand refund the same to the Agent together with interest on that amount from the date of payment to the date of receipt by the Agent, calculated by the Agent to reflect its cost of funds.

  

	 	(c)	If the Agent has notified the Lenders that it is willing to make available amounts for the account of a Borrower before receiving funds from the Lenders then if and to the extent that the Agent does so but it proves to
be the case that it does not then receive funds from a Lender in respect of a sum which it paid to a Borrower: 

  

	 	(i)	the Borrower to whom that sum was made available shall on demand refund it to the Agent; and 

  

	 	(ii)	the Lender by whom those funds should have been made available or, if that Lender fails to do so, the Borrower to whom that sum was made available, shall on demand pay to the Agent the amount (as certified by the Agent)
which will indemnify the Agent against any funding cost incurred by it as a result of paying out that sum before receiving those funds from that Lender. 

  

	29.5	[Intentionally blank] 

  

	29.6	Partial payments 

  

	 	(a)	Save in the circumstances described in clause 29.6(c), if the Agent receives a payment that is insufficient to discharge all the amounts then due and payable by an Obligor under the Finance Documents, the Agent shall
apply that payment towards the obligations of that Obligor under the Finance Documents in the following order: 

  

	 	(i)	first, in or towards payment pro rata of any unpaid fees, costs and expenses of the Agent, the Security Agent and the Arranger under the Finance Documents; 

 

	 	(ii)	secondly, in or towards payment pro rata of any accrued interest or commission due but unpaid under this Agreement; 

  

	 	(iii)	thirdly, in or towards payment pro rata of any principal due but unpaid under this Agreement; and 

  

	 	(iv)	fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents. 

  

	 	(b)	The Agent shall, if so directed by the Majority Lenders, vary the order set out in clause 29.6(a)(ii) to clause 29.6(a)(iv). 

  
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	 	(c)	If after the service of a notice by the Agent under clause 23.18 (Acceleration) or pursuant to the provisions of clause 29.12 the Agent receives a payment that is insufficient to discharge all the amounts then due
and payable by an Obligor or a Bilateral Borrower (other than an Obligor) under the Finance Documents, the Agent shall apply that payment towards the obligations of that Obligor or Bilateral Borrower (other than an Obligor), as the case may be,
under the Finance Documents in the following order: 

  

	 	(i)	first, in or towards payment pro rata of any unpaid fees, costs and expenses of the Agent, the Security Agent and the Arranger under the Finance Documents; 

 

	 	(ii)	secondly, in or towards payment pro rata of any accrued interest or commission due but unpaid under the Finance Documents; 

  

	 	(iii)	thirdly, in or towards payment pro rata of any principal due but unpaid under the Finance Documents (including without limitation provisions of cash cover in respect of contingent liabilities and payments due
under the Bilateral Facilities and Hedging Agreements); and 

  

	 	(iv)	fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents, 

provided that the amount applied by the Agent in respect of the obligations of the Bilateral Borrowers incorporated in the U.S. shall not
exceed the aggregate amount received by the Agent from, or in respect of the assets of, the Obligors incorporated in the U.S. 
  

	 	(d)	The Agent shall, if so directed by the Majority Creditors, vary the order set out in clause 29.6(c)(iii) to 29.6(c)(iv) above provided that any such variation shall be subject to the proviso to clause 29.6(c).

  

	 	(e)	Paragraphs 29.6(a), 29.6(b), 29.6(c) and 29.6(d) above will override any appropriation made by an Obligor. 

  

	29.7	No set-off by Obligors 

 All payments to be made by an Obligor under the Finance
Documents shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim. 
  

	29.8	Business Days 

  

	 	(a)	Any payment under the Finance Documents which is due to be made on a day that is not a Business Day shall be made on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if
there is not). 

  

	 	(b)	During any extension of the due date for payment of any principal or an Unpaid Sum under this Agreement interest is payable on the principal or Unpaid Sum at the rate payable on the original due date. 

 

	29.9	Currency of account 

  

	 	(a)	Subject to paragraphs (b) to (e) below, the Base Currency is the currency of account and payment for any sum due from an Obligor under any Finance Document. 

  
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	 	(b)	A repayment of a Loan or Unpaid Sum or a part of a Loan or Unpaid Sum shall be made in the currency in which that Loan or Unpaid Sum is denominated pursuant to this Agreement on its due date. 

 

	 	(c)	Each payment of interest shall be made in the currency in which the sum in respect of which the interest is payable was denominated when that interest accrued. 

 

	 	(d)	Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the costs, expenses or Taxes are incurred. 

 

	 	(e)	Any amount expressed to be payable in a currency other than the Base Currency shall be paid in that other currency. 

  

	 	(f)	For the purpose of or pending the discharge of any of the Secured Obligations the Security Agent may convert any monies received or recovered by it from one currency to another, at the spot rate at which the Security
Agent is able to purchase the currency in which the Secured Obligations are due with the amount received. The obligations of any Obligor to pay in the due currency shall only be satisfied to the extent of the amount of the due currency purchased
after deducting the costs of conversion. 

  

	29.10	Change of currency 

  

	 	(a)	Unless otherwise prohibited by law, if more than one currency or currency unit are at the same time recognised by the central bank of any country as the lawful currency of that country, then: 

 

	 	(i)	any reference in the Finance Documents to, and any obligations arising under the Finance Documents in, the currency of that country shall be translated into, or paid in, the currency or currency unit of that country
designated by the Agent (after consultation with the Parent); and 

  

	 	(ii)	any translation from one currency or currency unit to another shall be at the official rate of exchange recognised by the central bank for the conversion of that currency or currency unit into the other, rounded up or
down by the Agent (acting reasonably). 

  

	 	(b)	If a change in any currency of a country occurs, this Agreement will, to the extent the Agent (acting reasonably and after consultation with the Parent) specifies to be necessary, be amended to comply with any generally
accepted conventions and market practice in the London interbank market and otherwise to reflect the change in currency. 

  

	29.11	Disruption to Payment Systems etc 

 If either the Agent determines (in its discretion)
that a Disruption Event has occurred or the Agent is notified by the Parent that a Disruption Event has occurred: 
  

	 	(a)	the Agent may, and shall if requested to do so by the Parent, consult with the Parent with a view to agreeing with the Parent such changes to the operation or administration of the Facilities as the Agent may deem
necessary in the circumstances; 

  
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	 	(b)	the Agent shall not be obliged to consult with the Parent in relation to any changes mentioned in paragraph (a) if, in its opinion, it is not practicable to do so in the circumstances and, in any event, shall have
no obligation to agree to such changes; 

  

	 	(c)	the Agent may consult with the Finance Parties in relation to any changes mentioned in paragraph (a) but shall not be obliged to do so if, in its opinion, it is not practicable to do so in the circumstances;

  

	 	(d)	any such changes agreed upon by the Agent and the Parent shall (whether or not it is finally determined that a Disruption Event has occurred) be binding upon the Parties as an amendment to (or, as the case may be,
waiver of) the terms of the Finance Documents notwithstanding the provisions of clause 35 (Amendments and waivers); 

  

	 	(e)	the Agent shall not be liable for any damages, costs or losses whatsoever (including, without limitation for negligence, gross negligence or any other category of liability whatsoever but not including any claim based
on the fraud of the Agent) arising as a result of its taking, or failing to take, any actions pursuant to or in connection with this clause 29.11; and 

  

	 	(f)	the Agent shall notify the Finance Parties of all changes agreed pursuant to clause 29.11(d). 

  

	29.12	Application of Proceeds by Security Agent 

 All monies from time to time received or
recovered by the Security Agent or Receiver (a) in connection with the realisation or enforcement of all or any part of the Transaction Security or (b) pursuant to a Recovery by a Relevant Bilateral Bank pursuant to clause 29.17 shall be
held by the Security Agent on trust to apply them as soon as the Security Agent in its sole discretion determines to be reasonably practicable, to the extent permitted by applicable law (subject to the provisions of this clause and notwithstanding
any purported appropriation by any Obligor), in the following order of priority: 
  

	 	(a)	in discharging any sums owing to the Security Agent (in its capacity as trustee), any Receiver or any Delegate; 

  

	 	(b)	in payment to the Agent, on behalf of the Finance Parties, for application towards the discharge of all sums due and payable by any Obligor or Bilateral Borrower (other than an Obligor) under any of the Finance
Documents in the order set out in clause 29.6(c); 

  

	 	(c)	if none of the Obligors or Bilateral Borrowers (other than Obligors), is under any further actual or contingent liability under any Finance Document, in payment to any person to whom the Security Agent is obliged to pay
in priority to any Obligor or Bilateral Borrower (other than an Obligor); and 

  

	 	(d)	the balance, if any, in payment to the relevant Obligor. 

  

	29.13	Investment of Proceeds by Security Agent 

 Prior to the application of the proceeds of
the Transaction Security in accordance with clause 29.12 the Security Agent may, at its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Agent or Agent with such
financial institution (including itself) for so long as the Security Agent shall think fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Agent’s discretion in
accordance with the provisions of this clause 29. 

  
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	29.14	Permitted Deductions by Security Agent 

 The Security Agent shall be entitled (a) to
set aside by way of reserve amounts required to meet and (b) to make and pay, any deductions and withholdings (on account of Taxes or otherwise) which it is or may be required by any applicable law to make from any distribution or payment made
by it under this Agreement, and to pay all Taxes which may be assessed against it in respect of any of the Charged Property, or as a consequence of performing its duties, or by virtue of its capacity as Security Agent under any of the Finance
Documents or otherwise (other than in connection with its remuneration for performing its duties under this Agreement). 
  

	29.15	Discharge of Secured Obligations 

 Each of the Obligors agrees that the Secured
Obligations shall only be discharged to the extent of the receipts by or recoveries of the Security Agent pursuant to the enforcement of the Transaction Security. Any payment to be made in respect of the Secured Obligations by the Security Agent may
be made to the Agent and any payment so made shall be a good discharge to the extent of such payment, to the Security Agent. 
  

	29.16	Sums received by Obligors 

 If any of the Obligors receives any sum which, pursuant to
any of the Finance Documents, should have been paid to the Security Agent, that sum shall be held by that Obligor on trust for the Finance Parties and shall promptly be paid to the Security Agent for application in accordance with this clause. 

 

	29.17	Equalisation Payments 

  

	 	(a)	If at any time after the delivery of a notice by the Agent under clause 23.18 (Acceleration) any Relevant Bilateral Bank makes a Recovery in respect of any sum owed by the relevant Bilateral Borrower whether
directly or by set-off or by any other means which, if such sum had been recovered by the Relevant Bilateral Bank from an Obligor, would have fallen to be dealt with under clause 29.12 then: 

 

	 	(i)	such Relevant Bilateral Bank will notify details of such Recovery to the Security Agent within three Business Days; 

  

	 	(ii)	the Security Agent will then determine in good faith the amount by which such Recovery exceeds the amount which such Relevant Bilateral Bank would have received had such Recovery been affected by the Security Agent from
an Obligor pursuant to the Security Documents and applied as provided in clause 29.12; 

  

	 	(iii)	such Relevant Bilateral Bank will pay an amount (Equalisation Sharing Payment) equal to the excess to the Security Agent, retaining the balance in pro tanto satisfaction of the amount due to it; and

  

	 	(iv)	the Security Agent shall treat the excess as if it were a Recovery from an Obligor pursuant to the relevant Security Documents and shall deal with it in accordance with clause 29.12 (taking into account the amount
withheld by the Relevant Bilateral Bank in clause 29.17(a)(iii)). 

  
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	 	(b)	On a distribution by the Security Agent under paragraph (a), the Relevant Bilateral Bank will be subrogated to the rights of the Finance Parties which have shared in the redistribution. 

 

	 	(c)	If and to the extent that the Relevant Bilateral Bank is not able to rely on its rights under paragraph (b) above, the relevant Obligor shall be liable to the Relevant Bilateral Bank for a debt equal to the
Equalisation Sharing Payment which is immediately due and payable. 

  

	30	Set-off 

 Save as otherwise provided in clause 22.9 (Hedging Arrangements), a
Finance Party may set off any matured obligation due from an Obligor under the Finance Documents (to the extent beneficially owned by that Finance Party) against any matured obligation owed by that Finance Party to that Obligor, regardless of the
place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Finance Party may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the
set-off. 
  

	31	Notices 

  

	31.1	Communications in writing 

 Any communication to be made under or in connection with the
Finance Documents shall be made in writing and, unless otherwise stated, may be made by fax or letter. 
  

	31.2	Addresses 

 The address and fax number (and the department or officer, if any, for whose
attention the communication is to be made) of each Party for any communication or document to be made or delivered under or in connection with the Finance Documents is: 
  

	 	(a)	in the case of the Parent and Innospec Finance, that identified with its name below; 

  

	 	(b)	in the case of each Finance Party or any other Original Obligor, that notified in writing to the Agent on or prior to the date on which it becomes a Party; and 

 

	 	(c)	in the case of the Agent and the Security Agent, that identified with its name below, 

 or any
substitute address, fax number or department or officer as the Party may notify to the Agent (or the Agent may notify to the other Parties, if a change is made by the Agent) by not less than five Business Days’ notice. 

 

	31.3	Delivery 

  

	 	(a)	Any communication or document made or delivered by one person to another under or in connection with the Finance Documents will only be effective: 

 

	 	(i)	if by way of fax, when received in legible form; or 

  

	 	(ii)	if by way of letter, when it has been left at the relevant address or five Business Days after being deposited in the post postage prepaid in an envelope addressed to it at that address, 

  
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 and, if a particular department or officer is specified as part of its address details
provided under clause 31.2, if addressed to that department or officer. 
  

	 	(b)	Any communication or document to be made or delivered to the Agent or the Security Agent will be effective only when actually received by the Agent or the Security Agent (as the case may be) and then only if it is
expressly marked for the attention of the department or officer identified with the Agent’s (or, as applicable, Security Agent’s) signature below (or any substitute department or officer as the Agent or the Security Agent (as the case may
be) shall specify for this purpose). 

  

	 	(c)	All notices from or to an Obligor shall be sent through the Agent. 

  

	 	(d)	Any communication or document made or delivered to the Obligors’ Agent in accordance with this clause will be deemed to have been made or delivered to each of the Obligors. 

 

	 	(e)	All notices to a Lender from the Security Agent shall be sent through the Agent. 

  

	 	(f)	Any communication or document which becomes effective in accordance with clause 31.3(a) to 31.3(d), after 5.00 pm in the place of receipt shall be deemed only to become effective on the following day.

  

	31.4	Notification of address and fax number 

 Promptly upon receipt of notification of an
address and fax number or change of address or fax number pursuant to clause 31.2 or changing its own address or fax number the Agent shall notify the other Parties. 
  

	31.5	[Intentionally blank] 

  

	31.6	Electronic communication 

  

	 	(a)	Any communication to be made between any two Parties under or in connection with the Finance Documents may be made by electronic mail or other electronic means (including, without limitation, by way of posting to a
secure website) if those two Parties: 

  

	 	(i)	notify each other in writing of their electronic mail address and/or any other information required to enable the transmission of information by that means; and 

 

	 	(ii)	notify each other of any change to their address or any other such information supplied by them by not less than 5 Business Days’ notice. 

 

	 	(b)	Any such electronic communication as specified in clause 31.6(a) to be made between an Obligor and a Finance Party may only be made in that way to the extent that those two Parties agree that, unless and until notified
to the contrary, this is to be an accepted form of communication. 

  

	 	(c)	Any such electronic communication as specified in clause 31.6(a) made between any two Parties will be effective only when actually received (or made available) in readable form and in the case of any electronic
communication made by a Party to the Agent or the Security Agent only if it is addressed in such a manner as the Agent or Security Agent shall specify for this purpose. 

  
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	 	(d)	Any electronic communication which becomes effective, in accordance with clause 31.6(c), after 5.00 pm in the place in which the Party to whom the relevant communication is sent or made available has its address for the
purpose of this Agreement shall be deemed only to become effective on the following day. 

  

	 	(e)	Any reference in a Finance Document to a communication being sent or received shall be construed to include that communication being made available in accordance with this clause 31.6. 

 

	31.7	English language 

  

	 	(a)	Any notice given under or in connection with any Finance Document must be in English. 

  

	 	(b)	All other documents provided under or in connection with any Finance Document must be: 

  

	 	(i)	in English; or 

  

	 	(ii)	if not in English, and if so required by the Agent, accompanied by a certified English translation and, in this case, the English translation will prevail unless the document is a constitutional, statutory or other
official document. 

  

	32	Calculations and certificates 

  

	32.1	Accounts 

 In any litigation or arbitration proceedings arising out of or in connection
with a Finance Document, the entries made in the accounts maintained by a Finance Party are prima facie evidence of the matters to which they relate. 
  

	32.2	Certificates and determinations 

 Any certification or determination by a Finance Party
of a rate or amount under any Finance Document is, in the absence of manifest error, conclusive evidence of the matters to which it relates. 
  

	32.3	Day count convention 

 Any interest, commission or fee accruing under a Finance
Document will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of 360 days or, in any case where the practice in the London interbank market differs, in accordance with that market practice. 

 

	33	Partial invalidity 

 If, at any time, any provision of the Finance Documents is or
becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of
any other jurisdiction will in any way be affected or impaired. 
  

	34	Remedies and waivers 

 No failure to exercise, nor any delay in exercising, on the part
of any Finance Party, any right or remedy under a Finance Document shall operate as a waiver of any such right or remedy 

  
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or constitute an election to affirm any Finance Document. No election to affirm any Finance Document on the part of any Finance Party shall be effective unless it is in writing. No single or
partial exercise of any right or remedy shall prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in each Finance Document are cumulative and not exclusive of any rights or remedies
provided by law. 
  

	35	Amendments and waivers 

  

	35.1	Required consents 

  

	 	(a)	Subject to clause 35.2 any term of the Finance Documents (other than the Security Documents, the Bilateral Facilities and the Hedging Agreements) may be amended or waived only with the consent of the Majority Lenders
and the Obligors and any such amendment or waiver will be binding on all Parties. 

  

	 	(b)	The Agent may effect, on behalf of any Finance Party, any amendment or waiver permitted by this clause. 

  

	35.2	Exceptions 

  

	 	(a)	An amendment or waiver that has the effect of changing or which relates to: 

  

	 	(i)	the definition of Majority Lenders or Majority Creditors in clause 1.1 (Definitions); 

  

	 	(ii)	the definition of Screen Rate in clause 1.1 (Definitions); 

  

	 	(iii)	the definitions of Sanctions Authority, OFAC, Restricted Party, Sanctions and Sanctions List in clause 1.1 (Definitions); 

 

	 	(iv)	an extension to the date of payment of any amount under the Finance Documents; 

  

	 	(v)	a reduction in the Margin or a reduction in the amount of any payment of principal, interest, fees or commission payable; 

  

	 	(vi)	an increase in or an extension of any Commitment or the Total Commitments including an increase under clause 2.4 (Accordion Facility); 

 

	 	(vii)	(other than as expressly permitted by the provisions of any Finance Document) the nature or scope of: 

  

	 	(A)	the guarantee and indemnity granted under clause 18 (Guarantee and indemnity); 

  

	 	(B)	the Charged Property; or 

  

	 	(C)	the manner in which the proceeds of enforcement of the Transaction Security are distributed, 

(except in the case of clauses 35.2(a)(vii)(B) and (C), insofar as it relates to a sale or disposal of an asset which is the subject of the
Transaction Security where such sale or disposal is expressly permitted under this Agreement or any other Finance Document); 

  
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	 	(viii)	a change to the Borrowers or Guarantors other than in accordance with clause 25 (Changes to the Obligors); 

  

	 	(ix)	a release of any Security Documents other than in accordance with the terms of the Finance Documents; 

  

	 	(x)	any provision which expressly requires the consent of all the Lenders; 

  

	 	(xi)	clause 2.3 (Finance Parties’ rights and obligations), clause 2.4 (Accordion Facility), clause 8.1 (Illegality) to clause 8.3 (Disposals) (inclusive), clause 24 (Changes to the Finance Parties),
this clause 35, clause 40 (Governing law) or clause 41 (Enforcement); 

  

	 	(xii)	clause 19.22 (Sanctions) and clause 22.24 (Sanctions); or 

  

	 	(xiii)	clause 28 (Sharing among the Finance Parties), 29.12 (Application of Proceeds by Security Agent) and clause 29.17 (Equalisation Payments), 

shall not be made without the prior consent of all the Lenders. 
  

	 	(b)	An amendment or waiver which has the affect of changing or which relates to any provision in this Agreement relating to the terms of any Bilateral Facility or Hedging Agreement or the rights of a Bilateral Bank or
Hedging Bank thereunder may not be affected without the consent of the relevant Bilateral Bank or Hedging Bank (as the case may be). 

  

	 	(c)	An amendment or waiver which relates to the rights or obligations of the Agent, the Security Agent or the Arranger may not be made without the consent of the Agent, the Security Agent or the Arranger (as the case may
be). 

  

	 	(d)	An amendment or waiver that has the effect of changing or which relates to any provision which expressly requires the consent of the Majority Creditors, shall not be made without the prior consent of the Majority
Creditors. 

  

	35.3	Replacement of Screen Rate 

 Subject to clauses 35.2(b) and 35.2(c) if any Screen Rate is
not available for a currency which can be selected for a Loan, any amendment or waiver which relates to providing for another benchmark rate to apply in relation to that currency in place of that Screen Rate (or which relates to aligning any
provision of a Finance Document to the use of that other benchmark rate) may be made with the consent of the Lenders and the Parent. 
  

	35.4	[Intentionally blank] 

  

	35.5	Amendments to Security Documents 

 Subject to clause 35.2(a)(vii), the Security Agent
may, if authorised by the Majority Lenders, amend the terms of, waive any of the requirements of, or grant consents under, any of the Security Documents, any such amendment, waiver or consent being binding on all the Parties. 

 

	35.6	[Intentionally blank] 

  
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	35.7	Releases by Security Agent 

 Upon a disposal of any of the Charged Property
(a) pursuant to the enforcement of the Transaction Security by a Receiver or the Security Agent or (b) if such disposal is permitted by clause 22.4(a) (Disposals) of this Agreement or any other provision of the Finance Documents, the
Security Agent shall (at the cost of the Obligor) release that property from the Transaction Security and is authorised to execute, without the need for any further authority from the Finance Parties, any release of the Transaction Security or other
claim over that asset and to issue any certificates of non-crystallisation of floating charges that may be required or desirable. 
  

	35.8	Amendments by Obligors’ Agent 

 The Obligors’ Agent (acting on behalf of each
of the Obligors) may agree any amendment to or modification of the provisions of any of the Finance Documents or any schedule thereto, or grant any waiver or consent in relation thereto and the Obligors will be bound by any such amendment or
modification. 
  

	35.9	[Intentionally blank] 

  

	35.10	[Intentionally blank] 

  

	35.11	[Intentionally blank] 

  

	36	Obligors’ Agent 

  

	 	(a)	Each Obligor by its execution of this Agreement or an Accession Letter irrevocably authorises the Obligors’ Agent to act on its behalf as its agent in relation to the Finance Documents and irrevocably authorises:

  

	 	(i)	the Obligors’ Agent on its behalf to supply all information concerning itself, its financial condition and otherwise to the relevant persons contemplated under this Agreement and to give all notices and
instructions (including, in the case of a Borrower (and without limitation), Utilisation Requests) to execute on its behalf any Accession Letter, to make such agreements and to effect the relevant amendments, supplements and variations capable of
being given, made or effected by any Obligor notwithstanding that they may affect the Obligor, without further reference to or the consent of that Obligor; and 

  

	 	(ii)	each Finance Party to give any notice, demand or other communication to be given to or served on such Obligor pursuant to the Finance Documents to the Obligors’ Agent on its behalf, 

and in each such case such Obligor will be bound thereby as though such Obligor itself had supplied such information, given such notice and
instructions (including, without limitation, any Utilisation Requests) or executed or made the agreements or effected the amendments, supplements or variations, or received the relevant notice, demand or other communication. 

 

	 	(b)	Every act, omission, agreement, undertaking, settlement, waiver, amendment, supplement, variation, notice or other communication given or made by the Obligors’ Agent or given to the Obligors’ Agent under any
Finance Document on behalf of another Obligor or in connection with any Finance Document (whether or not known to any other Obligor and whether occurring before or after such other Obligor became an Obligor under any Finance Document) shall be
binding for all purposes on that Obligor as if that Obligor had expressly made, given or concurred with it. In the event of any conflict between any notices or other communications of the Obligors’ Agent and any other Obligor, those of the
Obligors’ Agent shall prevail. 

  
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	37	USA Patriot Act 

 Each Lender hereby notifies each Obligor that pursuant to the
requirements of the USA Patriot Act, such Lender is required to obtain, verify and record information that identifies such Obligor, which information includes the name and address of such Obligor and other information that will allow such Lender to
identify such Obligor in accordance with the USA Patriot Act. 
  

	38	Counterparts 

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

	39	Publicity 

 All publicity in connection with the Facilities shall be managed by the
Arrangers in consultation with the Parent. No publicity in connection with the Facilities shall be released without the prior approval of the Parent and the Arrangers. If any member of the Group is obliged as a matter of applicable law or regulation
to disclose any information relating to the Facilities it shall be permitted to do so and shall provide to the Agent details of that disclosure prior to making that disclosure. 

 

	40	Governing law 

 This Agreement and any non-contractual obligations arising out of or in
connection with it are governed by English law. 
  

	41	Enforcement 

  

	41.1	Jurisdiction of English courts 

  

	 	(a)	The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with any Finance Document (including a dispute relating to the existence, validity or termination of that Finance
Document and any non-contractual obligations arising out of or in connection with any Finance Document regarding the existence, validity or termination of that Finance Document or the consequence of its nullity) (a Dispute). 

 

	 	(b)	The Parties agree that the courts of England are the most appropriate and convenient courts to settle Disputes and accordingly no Party will argue to the contrary. 

 

	 	(c)	This clause 41.1 is for the benefit of the Finance Parties only. As a result, no Finance Party shall be prevented from taking proceedings relating to a Dispute in any other courts with jurisdiction. To the extent
allowed by law, the Finance Parties may take concurrent proceedings in any number of jurisdictions. 

  
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	41.2	Service of process 

  

	 	(a)	Without prejudice to any other mode of service allowed under any relevant law, each Obligor (other than an Obligor incorporated in England and Wales): 

 

	 	(i)	irrevocably appoints Innospec Finance (whose address for service is “Innospec Manufacturing Park, Oil Sites Road, Ellesmere Port, Cheshire CH65 4EY, Fax: 0151 348 5756”) as its agent for service of process in
relation to any proceedings before the English courts in connection with any Finance Document; and 

  

	 	(ii)	agrees that failure by a process agent to notify the relevant Obligor of the process will not invalidate the proceedings concerned. 

  

	 	(b)	If any person appointed as an agent for service of process is unable for any reason to act as agent for service of process, the Obligors’ Agent (on behalf of all the Obligors) must immediately (and in any event
within 5 days of such event taking place) appoint another agent on terms acceptable to the Agent. Failing this, the Agent may appoint another agent for this purpose. 

 

	 	(c)	Innospec Finance expressly agrees and consents to the provisions of this clause 41 and clause 40 (Governing law). 

  

	42	Waiver of jury trial 

 Each of the parties to the Finance Documents irrevocably waives a
jury trial in any action or proceeding with respect to any Finance Document. 
 This Agreement has been entered into on the date stated at the
beginning of this Agreement. 

  
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 Schedule 1 

The Original Parties 

Part 1 - The Original Obligors 
  

			
	Name of Original Borrower	  	Jurisdiction of Incorporation and registration number (or equivalent, if any)
		
	Innospec Limited	  	England, 344359
		
	Innospec Fuel Specialties Limited	  	England, 3316334
		
	Innospec Finance Limited	  	England, 5330706
		
	Innospec Developments Limited	  	England, 3516662
		
	Innospec Active Chemicals Limited	  	England, 4181366
		
	Innospec Inc.	  	Delaware, U.S.A.
		
	Innospec Fuel Specialties LLC	  	Delaware, U.S.A.

  

			
	Name of Original Guarantor	  	Jurisdiction of Incorporation and registration number (or equivalent, if any)
		
	Innospec Limited	  	England, 344359
		
	Innospec Fuel Specialties Limited	  	England, 3316334
		
	Innospec Developments Limited	  	England, 3516662
		
	OboAdler Company Limited	  	England, 3760777
		
	Innospec Trading Limited	  	England, 3516648
		
	Innospec Holdings Limited	  	England, 4109325
		
	Innospec International Limited	  	England, 3316194
		
	Innospec (Plant) Limited	  	England, 873396
		
	Innospec Finance Limited	  	England, 5330706
		
	Innospec Active Chemicals Limited	  	England, 4181366
		
	Innospec GmbH	  	Switzerland, CHE-110.356.189 (former register number CH-170.4.004.635-1)
		
	Alcor Chemie Vertriebs GmbH	  	Switzerland, CHE-105.631.378 (former register number CH-170.4.002.974-7)

  
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	Innospec Inc.	  	Delaware, U.S.A.
		
	Innospec Fuel Specialties LLC	  	Delaware, U.S.A.
		
	Innospec Oil Field Chemicals LLC	  	Delaware, U.S.A.
		
	Innospec Strata Holdings LLC	  	Delaware, U.S.A.
		
	Innospec Active Chemicals LLC	  	Georgia, U.S.A.
		
	Strata Control Services, Inc.	  	Louisiana, U.S.A.

  
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 Part 2 - The Original Lenders 

 

											
	Name of Original Lender	  	Commitment ($)	 	  	Uncommitted initial
amount of pro rata
share of Accordion
Facility ($)	 	  	Treaty Passport
scheme reference
number and
jurisdiction of tax
residence (if
applicable)
	 Barclays Bank PLC
	  	 	36,000,000	  	  	 	9,000,000	  	  	
	 Lloyds Bank plc
	  	 	36,000,000	  	  	 	9,000,000	  	  	
	 National Westminster Bank Plc
	  	 	36,000,000	  	  	 	9,000,000	  	  	
	 Credit Suisse AG
	  	 	20,000,000	  	  	 	5,000,000	  	  	
	 U.S. Bank National Association
	  	 	36,000,000	  	  	 	9,000,000	  	  	
	 Wells Fargo Bank N.A.
	  	 	36,000,000	  	  	 	9,000,000	  	  	
	 TOTAL
	  	 	200,000,000	  	  	 	50,000,000	  	  	

  
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 Part 3 - The Original Bilateral Banks 

Name of Original Bilateral Bank 
 Barclays Bank PLC 

Credit Suisse AG 
 Lloyds Bank plc 

National Westminster Bank Plc 

  
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 Part 4 - The Hedging Banks 

Name of Original Hedging Bank 
 Barclays Bank PLC 

Lloyds Bank plc 
 National Westminster Bank Plc 

Wells Fargo Bank N.A. 

  
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 Schedule 2 

Conditions Precedent 

Part 1 - Conditions Precedent to Initial Utilisation 

THE CONDITIONS PRECEDENT IN PART 1 OF SCHEDULE 2 WERE EITHER WAIVED OR SATISFIED ON 14 DECEMBER 2011. 

 

	6	Corporate Documents 

  

	6.1	A copy of the constitutional documents of each Original Obligor. 

  

	6.2	A copy of a resolution of the board of directors (or equivalent thereof) of each Original Obligor: 

  

	 	(a)	approving the terms of, and the transactions contemplated by, the Finance Documents to which it is a party and resolving that it execute the Finance Documents to which it is a party; 

 

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

  

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

  

	6.3	A copy of a resolution signed by all the holders of the issued shares in each Original Guarantor (other than any US Guarantor), approving the terms of, and the transactions contemplated by, the Finance Documents to
which that Original Guarantor is a party. 

  

	6.4	If applicable, a copy of a resolution of the board of directors of each corporate shareholder in each Original Guarantor, approving the terms of the resolution referred to in paragraph (c) above. 

 

	6.5	In respect of each Swiss Obligor a copy of a resolution of its general meeting of quotaholders approving the execution and the terms of, and the transactions contemplated by, the Finance Documents. 

 

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

  

	6.7	A certificate of each Original Obligor (signed by a member of Management or a director) confirming that borrowing or guaranteeing, as appropriate, the Total Commitments would not cause any borrowing, guaranteeing or
similar limit binding on any Original Obligor to be exceeded (each certificate to remain true and correct up to and on the first Utilisation Date (unless notified to the contrary by the relevant Original Obligor)). 

 

	6.8	To the extent not otherwise provided above, the constitutive documents of any member of the Group incorporated in England and Wales or the U.S. whose shares are subject to Security under any of the Security Documents
together with any resolutions of the shareholders of such member of the Group adopting such changes to the constitutive documents of such member of the Group as the Agent shall have reasonably required (prior to the date of this Agreement) to, among
other things, remove any restriction on any transfer of shares or partnership interests (or equivalent) in such member of the Group pursuant to any enforcement of any of such Security Documents. 

  
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	6.9	A copy of a good standing certificate with respect to each U.S. Group Member which is an Original Guarantor, issued as of a recent date by the Secretary of State or other appropriate official of such U.S. Group
Member’s jurisdiction of incorporation or organisation. 

  

	6.10	A certificate of an authorised signatory of the relevant Original Obligor certifying that each copy document relating to it specified in this paragraph 6 of part 1 of schedule 2 is correct, complete and in full
force and effect as at a date no earlier than the date of this Agreement. 

  

	7	Finance Documents 

 The Fee Letters, duly executed. 

 

	8	Legal opinions 

  

	8.1	A legal opinion of Allen & Overy LLP, legal advisers to the Arranger and the Agent in England as to English law, substantially in the form distributed to the Original Lenders prior to signing this Agreement.

  

	8.2	A legal opinion of Mayer Brown LLP, legal advisers to the Obligors as to the laws of Delaware, U.S., substantially in the form distributed to the Original Lenders prior to signing this Agreement. 

 

	8.3	A legal opinion of Mayer Brown LLP, legal advisers to the Obligors as to the laws of New York, U.S., substantially in the form distributed to the Original Lenders prior to signing this Agreement. 

 

	8.4	A legal opinion of Alston & Bird LLP, U.S. (Georgia), legal advisers to the Obligors as to the laws of the Georgia, U.S., substantially in the form distributed to the Original Lenders prior to signing this
Agreement. 

  

	8.5	A legal opinion of Bär & Karrer AG, the legal advisers to the Arranger and the Agent as to Swiss law, substantially in the form distributed to the Original Lenders prior to signing this Agreement.

  

	9	Security 

  

	9.1	The Debentures, duly executed. 

  

	9.2	The Swiss Assignment Agreement, duly executed. 

  

	9.3	The U.S. Security Documents, duly executed. 

  

	9.4	The English Share Pledge, duly executed. 

  

	9.5	The Swiss Share Pledges, duly executed. 

  

	10	Perfection of Security 

  

	10.1	Key Properties – Registration: 

  

	 	(a)	The results of the Land Registry searches in favour of the Agent on the appropriate forms against all of the registered titles comprising each Key Property giving not less than 21 days priority beyond the date each Key
Property became subject to the terms of the relevant Finance Documents and showing no adverse entries. 

  
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	 	(b)	An undertaking from DWF LLP (legal counsel to the Parent) to (subject to receipt of (A) the original Key Property Debenture following registration at Companies House (B) evidence of registration of the Key
Property Debenture at Companies House and (C) executed releases of the existing Security relating to the Original Facilities Agreement): (I) within the priority periods afforded by the Land Registry searches (or such longer periods as
granted by the Land Registry) make applications to the Land Registry on the appropriate forms together with the payment of the Land Registry fees to release such existing Security and to register the Security created in respect of each Key Property
under the Finance Documents (including the restrictions and obligations to make further advances referred to in the Key Property Debenture) against the relevant title number for each Key Property (II) give notice of the Key Property Debentures to
the landlords of all leasehold Key Properties (III) use reasonable endeavours to deal promptly with any requisitions raised by the Land Registry in connection with the applications mentioned above and (IV) hold any title deeds that come into their
possession to the order of the Security Agent. 

  

	10.2	All original share certificates and related stock transfer forms executed in blank in relation to shares subject to the Security Documents to the extent appropriate under applicable law. 

 

	10.3	Executed notices of assignment/charge (to be dated the date that is the first Utilisation Date) of any contracts specifically identified in the Security Documents and any bank accounts listed in the Security Documents.

  

	10.4	All insurance policies relating to Material Insurances in force as at the date of the first Utilisation under this Agreement or, if not available, broker’s letters confirming the matters specified in clause 22.7
(Insurance). 

  

	11	Other documents and evidence 

  

	11.1	The Original Financial Statements of the Parent. 

  

	11.2	The Group Structure Chart. 

  

	11.3	Information Package. 

  

	11.4	A copy of the Disclosure Letter. 

  

	11.5	Evidence that upon the date that the first Loan is made: 

  

	 	(a)	all Financial Indebtedness arising under or in connection with the Original Facilities Agreement will be immediately repaid in full and all commitments under the Original Facilities Agreement irrevocably cancelled; and

  

	 	(b)	all of the existing Security relating to the Original Facilities Agreement will be immediately released and the relevant reassignments have been made. 

 

	11.6	Evidence that the fees, costs and expenses then due pursuant to clause 12 (Fees) and clause 17 (Costs and expenses) have been paid or will be paid. 

 

	11.7	A certificate of solvency signed by the chief financial officer of each Original Obligor incorporated in the U.S. 

  
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	11.8	Evidence that the Original Guarantors satisfy the requirements of clause 22.18(b) (Guarantors and security) (by reference to the EBITDA and gross asset analysis based on the forecast used in the Information Package).

  

	11.9	A Compliance Certificate for the Relevant Period ending 30 September 2011. 

  

	11.10	Documentation and other evidence as is reasonably requested by the Agent or the Lenders in order for the Agent and the Lenders to carry out and be satisfied with the results of all necessary “know your
customer” or other checks on each Obligor pursuant to the transactions contemplated in the Finance Documents. 

  
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 Part 2 - Conditions Precedent required to be delivered by an Additional Obligor

  

	1	An Accession Letter, duly executed by the Additional Obligor and the Parent. 

  

	2	A copy of the constitutional documents of the Additional Obligor. 

  

	3	A copy of a resolution of the board of directors of the Additional Obligor: 

  

	 	(a)	approving the terms of, and the transactions contemplated by, the Accession Letter and the Finance Documents and resolving that it execute the Accession Letter; 

 

	 	(b)	authorising a specified person or persons to execute the Accession Letter and other Finance Documents on its behalf; and 

  

	 	(c)	authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices (including, in relation to an Additional Borrower, any Utilisation Request) to be signed and/or
despatched by it under or in connection with the Finance Documents. 

  

	4	A specimen of the signature of each person authorised by the resolution referred to in paragraph 3 above. 

  

	5	Where the Agent’s relevant counsel deems such to be either necessary or desirable either in place of or in addition to the resolution referred to in paragraph (b) above, a certificate or extract from a public
commercial registry or other evidence setting out the names and signatures of the persons authorised to sign, on behalf of the Additional Obligor, each Finance Document to which such company is or is to be a party and any documents to be delivered
by such company pursuant to any of the Finance Documents. 

  

	6	Where the Agent’s relevant counsel deems such to be either necessary or desirable, either a copy of a resolution signed by all the holders of the issued shares in such company or a resolution of the supervisory
board, work council or equivalent supervisory body of the Additional Obligor, approving the terms of, and the transactions contemplated by, the Finance Documents to which that company is a party. 

 

	7	A certificate of the Additional Obligor (signed by a director) confirming that borrowing or guaranteeing or securing, as appropriate, the Total Commitments would not cause any borrowing, guarantee, security or similar
limit binding on it to be exceeded. 

  

	8	A certificate of an authorised signatory of the Additional Obligor certifying that each copy document listed in this part 2 of schedule 2 is correct, complete and in full force and effect and has not been amended
or superseded as at a date no earlier than the date of the Accession Letter. 

  

	9	A copy of any other Authorisation or other document, opinion or assurance which the Agent considers to be necessary or desirable in connection with the entry into and performance of the transactions contemplated by the
Accession Letter or for the validity and enforceability of any Finance Document. 

  

	10	If available, the latest audited financial statements of the Additional Obligor. 

  

	11	A legal opinion of the legal advisers to the Arranger and the Agent in England. 

  
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	12	If the Additional Obligor is incorporated in a jurisdiction other than England and Wales, a legal opinion of the legal advisers to the Arranger and the Agent in the jurisdiction in which the Additional Obligor is
incorporated. 

  

	13	If the proposed Additional Obligor is incorporated in a jurisdiction other than England and Wales, evidence that the process agent specified in clause 41.2 (Service of process), if not an Obligor, has accepted its
appointment in relation to the proposed Additional Obligor. 

  

	14	Security Document(s) executed by the Additional Obligor in favour of the Security Agent for the benefit of the Finance Parties (or, if applicable, directly in favour of the Finance Parties) as the Agent shall have
required in accordance with the provisions of clause 22.18 (Guarantors and security). 

  

	15	(To the extent permissible under applicable law) an executed Security Document by the immediate Holding Company of such Additional Obligor over the entire issued share capital of such Additional Obligor held by such
Holding Company. 

  

	16	If the Additional Obligor is formed in any state of the United States of America, a certificate of solvency signed by the Chief Financial Officer of such Additional Obligor and a copy of a good standing certificate with
respect to that Additional Obligor issued as of a recent date by the Secretary of State or other appropriate official of that Additional Obligor’s jurisdiction of formation. 

 

	17	Where the Agent’s relevant counsel reasonably deems such to be either necessary or advisable and to the extent practicable (taking into account the commercial benefit for the Finance Parties and the burden on the
Obligors), any recordings, filings or other action required to perfect the Security purported to be created by the Security Documents referred to above (including, without limitation, delivery of share certificates and stock transfer forms executed
in blank in relation to pledged shares, noting of pledges on share registers, application for registration of security and notices of assignment). 

  

	18	The constitutive documents of any member of the Group whose shares are subject to Security under any of the Security Documents referred to above in the form required by the Agent together with any resolutions of the
shareholders of such member of the Group adopting such changes to the constitutive documents of such member of the Group as the Agent shall have reasonably required to, among other things, remove any restriction on any transfer of shares or
partnership interests (or equivalent) in such member of the Group pursuant to any enforcement of any of such Security Documents. 

  
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 Schedule 3 

[Intentionally blank] 

  
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 Schedule 4 

Form of Utilisation Request 
  

			
	From:	  	[Borrower/Obligors’ Agent]
		
	To:	  	[Agent]
		
	Dated:	  	●
		
	Dear Sirs	  	

 Innospec Inc. – U.S.$200,000,000 Facility Agreement originally dated 14 December 2011 (as subsequently amended
and restated from time to time) (the Facility Agreement) 
  

	1	We refer to the Facility Agreement. This is a Utilisation Request. Terms defined in the Facility Agreement have the same meaning in this Utilisation Request unless given a different meaning in this Utilisation Request.

  

	2	We wish [Name of Borrower] to borrow a Loan on the following terms: 

  

			
	Proposed Utilisation Date:	  	● (or, if that is not a Business Day, the next Business Day)
		
	Currency of Loan:	  	●
		
	Amount:	  	● or, if less, the Available Facility
		
	Interest Period:	  	●

  

	3	We confirm that each condition specified in clause 4.2 (Further conditions precedent) is satisfied on the date of this Utilisation Request. 

 

	4	The proceeds of this Loan should be credited to [account]. 

  

	[5/6]	This Utilisation Request is irrevocable. 

 Yours faithfully 

 

	
	  

	
	authorised signatory for
	[the Obligors’ Agent on behalf of]
	[name of relevant Borrower]

  
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 Schedule 5 

Form of Transfer Agreements 

Part 1 - Form of Assignment Agreement 
  

			
	To:	  	● as Agent and ● as Security Agent
		
	From:	  	[The Existing Lender] (Existing Lender) and [The New Lender] New Lender)
		
	Dated:	  	●

 Innospec Inc. – U.S.$200,000,000 Facility Agreement originally dated 14 December 2011 (as subsequently amended
and restated from time to time) (the Facility Agreement) 
  

	1	We refer to the Facility Agreement. This is an Assignment Agreement. Terms defined in the Facility Agreement have the same meaning in this Assignment Agreement unless given a different meaning in this Assignment
Agreement. 

  

	2	In accordance with the terms of the Facility Agreement: 

  

	 	(a)	the Existing Lender assigns absolutely to the New Lender all the rights of the Existing Lender specified in the schedule together with a proportional interest under each Security Document; 

 

	 	(b)	the New Lender assumes obligations equivalent to those obligations of the Existing Lender under the Facility Agreement specified in the schedule; 

 

	 	(c)	to the extent the obligations referred to in paragraph (b) above are effectively assumed by the New Lender, the Existing Lender is released from its obligations under the Facility Agreement specified in the
schedule; and 

  

	 	(d)	the New Lender becomes a Lender under the Facility Agreement and is bound by the terms of the Facility Agreement as a Lender. 

  

	3	The proposed Transfer Date is ●. 

  

	4	The administrative details of the New Lender for the purposes of the Facility Agreement are set out in the schedule. 

  

	5	The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out clause 24.5(c) (Limitation of responsibility of Existing Lenders) in respect of this Assignment Agreement contained
in the Facility Agreement. 

  

	6	The New Lender and the Existing Lender expressly acknowledge that the Security granted by the Security Documents will be preserved for the benefit of the New Lender, the Agent and the remaining Lenders.

  

	7	The New Lender confirms, for the benefit of the Agent and without liability to any Obligor, that it is: 

  

	 	(a)	[a Qualifying Lender (other than a Treaty Lender);] 

  

	 	(b)	[a Treaty Lender;] 

  

	 	(c)	[not a Qualifying Lender]. 

  
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	8	[The New Lender confirms that the person beneficially entitled to interest payable to that Lender in respect of an advance under a Finance Document is either: 

 

	 	(a)	a company resident in the United Kingdom for United Kingdom tax purposes; 

  

	 	(b)	a partnership each member of which is: 

  

	 	(i)	a company so resident in the United Kingdom; or 

  

	 	(ii)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of
section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or 

  

	 	(c)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the
chargeable profits (within the meaning of section 19 of the CTA) of that company.] 

  

	9	[The New Lender confirms that it holds a passport under the HMRC DT Treaty Passport scheme (reference number ●) and is tax resident in ●*, so that interest payable to it by borrowers is generally subject to
full exemption from UK withholding tax and requests that the Obligors’ Agent notify: 

  

	 	(a)	each Borrower which is a Party as a Borrower as at the Transfer Date; and 

  

	 	(b)	each Additional Borrower which becomes an Additional Borrower after the Transfer Date, 

 that it
wishes that scheme to apply to the Facility Agreement.]** 
  

	10	This Assignment Agreement acts as notice to the Agent (on behalf of each Finance Party) and, upon delivery in accordance with clause 24.7 (Copy of Transfer Certificate or Assignment Agreement or Increase Confirmation to
Parent), to the Parent (on behalf of each Obligor) of the assignment referred to in this Agreement. 

  

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

 

	12	This Assignment Agreement and any non-contractual obligations arising out of or in connection with it are governed by English law. 

 

	*	Insert jurisdiction of tax residence. 

	**	Include if the New Lender holds a passport under the HMRC DT Treaty Passport scheme and wishes that scheme to apply to the Facility Agreement. 

  
 156 

 CONFORMED COPY 
  

 The Schedule 

Commitment/rights and obligations to be transferred by assignment, release and accession 

[insert relevant details] 
 [Facility Office
address, fax number and attention details for notices and account details for payments] 
  

					
	[Existing Lender]	 		 	[New Lender]
			
	By:	 		 	By:

 This Assignment Agreement is accepted by the Agent as an Assignment Agreement and the Transfer Date is confirmed as ●.

 Signature of this Assignment Agreement by the Agent constitutes confirmation by the Agent of receipt of notice of the assignment referred to in this
Assignment Agreement, which notice the Agent receives on behalf of each Finance Party. 
  

			
	[Agent]
	
	By:
	
	[Security Agent]
	
	By:

  

	Note:	The execution of this Assignment Agreement may not transfer a proportionate share of the Existing Lender’s interest in the Transaction Security in all jurisdictions. It is the responsibility of the New Lender to
ascertain whether any other documents or other formalities are required to perfect a transfer of such a share in the Existing Lender’s Transaction Security in any jurisdiction and, if so, to arrange for execution of those documents and
completion of those formalities. 

  
 157 

 CONFORMED COPY 
  

 Part 2 - Form of Transfer Certificate 

 

			
	To:	  	● as Agent and ● as Security Agent
		
	From:	  	[The Existing Lender] (Existing Lender) and [The New Lender] (New Lender)
		
	Dated:	  	●

 Innospec Inc. – U.S.$200,000,000 Facility Agreement originally dated 14 December 2011 (as subsequently amended
and restated from time to time) (the Facility Agreement) 
 We refer to the Facility Agreement. This is a Transfer Certificate. Terms defined in the
Facility Agreement have the same meaning in this Transfer Certificate unless given a different meaning in this Transfer Certificate. 
  

	1	The Existing Lender transfers by novation to the New Lender the Existing Lender’s rights and obligations referred to in the schedule below in accordance with the terms of the Facility Agreement together with a
proportional interest under each Security Document. 

  

	2	The proposed Transfer Date is ●. 

  

	3	The administrative details of the New Lender for the purposes of the Facility Agreement are set out in the schedule. 

  

	4	The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out in clause 24.5(c) (Limitation of responsibility of Existing Lenders) in respect of this Transfer Certificate
contained in the Facility Agreement. 

  

	5	The New Lender confirms, for the benefit of the Agent and without liability to any Obligor, that it is: 

  

	 	(a)	[a Qualifying Lender (other than a Treaty Lender);] 

  

	 	(b)	[a Treaty Lender;] 

  

	 	(c)	[not a Qualifying Lender]. 

  

	6	[The New Lender confirms that the person beneficially entitled to interest payable to that Lender in respect of an advance under a Finance Document is either: 

 

	 	(a)	a company resident in the United Kingdom for United Kingdom tax purposes; 

  

	 	(b)	a partnership each member of which is: 

  

	 	(i)	a company so resident in the United Kingdom; or 

  

	 	(ii)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of
section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or 

  

	 	(c)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the
chargeable profits (within the meaning of section 19 of the CTA) of that company.] 

  
 158 

 CONFORMED COPY 
  

	7	[The New Lender confirms that it holds a passport under the HMRC DT Treaty Passport scheme (reference number ●) and is tax resident in ●*, so that interest payable to it by borrowers is generally subject to
full exemption from UK withholding tax and requests that the Parent notify: 

  

	 	(a)	each Borrower which is a Party as a Borrower as at the Transfer Date; and 

  

	 	(b)	each Additional Borrower which becomes an Additional Borrower after the Transfer Date, 

 that it
wishes that scheme to apply to the Facility Agreement.]** 
  

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

 

	9	This Transfer Certificate and any non-contractual obligations arising out of or in connection with it are governed by English law. 

 

	*	Insert jurisdiction of tax residence. 

	**	Include if the New Lender holds a passport under the HMRC DT Treaty Passport scheme and wishes that scheme to apply to the Facility Agreement. 

  
 159 

 CONFORMED COPY 
  

 The Schedule 

Rights and obligations to be transferred 

[insert relevant details, including applicable Commitment (or part)] 

Administrative details of the New Lender 

[insert details of Facility Office, address for notices and payment details etc.] 

 

					
	[Existing Lender]	 		 	[New Lender]
			
	By:	 		 	By:

 The Transfer Date is confirmed by the Agent as ●. 

 

					
	[Agent]	 		 	[Security Agent]
			
	By:	 		 	By:

 As Agent, for and on behalf of 

each of the parties to the Facility Agreement 
 (other than the
Existing Lender and 
 the New Lender) 
  

	Note:	The execution of this Transfer Certificate may not transfer a proportionate share of the Existing Lender’s interest in the Transaction Security in all jurisdictions. It is the responsibility of the New Lender to
ascertain whether any other documents or other formalities are required to perfect a transfer of such a share in the Existing Lender’s Transaction Security in any jurisdiction and, if so, to arrange for execution of those documents and
completion of those formalities. 

  
 160 

 CONFORMED COPY 
  

 Schedule 6 

Form of Accession Letter 
  

			
	To:	  	● as Agent
		
	From:	  	[Subsidiary] and [Parent]/[Bilateral Bank]/[Hedging Bank]
		
	Dated:	  	●
		
	Dear Sirs	  	

 Innospec Inc. – U.S.$200,000,000 Facility Agreement originally dated 14 December 2011 (as subsequently amended
and restated from time to time) (the Facility Agreement) 
  

	1	We refer to the Facility Agreement. This is an Accession Letter. Terms defined in the Facility Agreement have the same meaning in this Accession Letter. 

 

	2	[Subsidiary]/[Bilateral Bank]/[Hedging Bank] agrees to become an Additional [Borrower]/[Guarantor]/[Bilateral Bank]/[Hedging Bank] [Lender] and to be bound by the terms of the Facility Agreement as an Additional
[Borrower]/[Guarantor]/[Bilateral Bank]/[Hedging Bank]/[Lender] pursuant to clause [25.2 (Additional Borrowers)]/[clause 25.4 (Additional Guarantors)]/[24.14 (Accession of Bilateral Banks)]/[24.15 (Accession of Hedging Banks) of the Facility
Agreement. [Subsidiary]/[Bilateral Bank]/[Hedging Bank] is a company duly incorporated under the laws of [name of relevant jurisdiction]. 

  

	3	[Incorporate wording limiting the guarantee to the extent appropriate to satisfy any local legal requirements regarding corporate benefit, financial assistance etc and to avoid any material risk of legal liability of a
director of the proposed Guarantor.] 

  

	4	[Subsidiary’s]/[Bilateral Bank’s]/[Hedging Bank’s] administrative details are as follows: 

Address: 
 Fax No: 

Attention: 
  

	5	This Accession Letter and any non-contractual obligations arising out of or in connection with it is governed by English law. 

This Accession Letter is entered into by a deed. 
  

			
	[Parent]	  	[Subsidiary]/[Bilateral Bank]/[Hedging Bank]

  
 161 

 CONFORMED COPY 
  

 Schedule 7 

Form of Resignation Letter 
  

			
	To:	  	● as Agent
		
	From:	  	[resigning Obligor] and [Parent]
		
	Dated:	  	●
	
	Dear Sirs

 Innospec Inc. – U.S.$200,000,000 Facility Agreement originally dated 14 December 2011 (as subsequently amended
and restated from time to time) (the Facility Agreement) 
  

	1	We refer to the Facility Agreement. This is a Resignation Letter. Terms defined in the Facility Agreement have the same meaning in this Resignation Letter unless given a different meaning in this Resignation Letter.

  

	2	Pursuant to [clause 25.3 (Resignation of a Borrower)]/[clause 25.6 (Resignation of a Guarantor)], we request that [resigning Obligor] be released from its obligations as a [Borrower]/[Guarantor] under the Facility
Agreement. 

  

	3	We confirm that: 

  

	 	(a)	no Default is continuing or would result from the acceptance of this request; and 

  

	 	(b)	●1 

  

	4	This letter and any non-contractual obligations arising out of or in connection with it is governed by English law. 

  

									
	[Parent]	 		 	[Subsidiary]
					
	By:	 		 		 	By:	 	

  

	1 	Insert any other conditions required by the Facility Agreement 

  
 162 

 CONFORMED COPY 
  

 Schedule 8 

Form of Compliance Certificate 
  

			
	To:	  	● as Agent
		
	From:	  	[Parent]
		
	Dated:	  	●
	
	Dear Sirs

 Innospec Inc. – U.S.$200,000,000 Facility Agreement originally dated 14 December 2011 (as subsequently amended
and restated from time to time) (the Facility Agreement) 
  

	1	We refer to the Facility Agreement. This is a Compliance Certificate. Terms defined in the Facility Agreement shall have the same meaning in this Compliance Certificate. 

 

	2	We confirm that: 

  

	 	(a)	The ratio of Total Net Debt on [Quarter Date] to EBITDA for the Relevant Period ending on such Quarter Date was ● and therefore we are [in compliance/not in compliance] with this financial covenant.

  

	 	(b)	The ratio of EBITDA to Net Interest in respect of each Relevant Period ending on such Quarter Date was not less than 4.0:1 and therefore we are [in compliance/not in compliance] with this financial covenant.

  

	3	On the basis of the above, we confirm that the Margin in respect of Loans after your receipt of this Compliance Certificate will be ●% per annum. 

 

	4	[We also confirm that: 

  

	 	(a)	the aggregate (without double counting) EBITDA of the Guarantors for the Relevant Period ending on ● was ●% of the consolidated EBITDA of the Group for that Relevant Period; 

 

	 	(b)	the aggregate gross assets (without double counting) of the Guarantors as at ● was ●% of the consolidated gross assets of the Group as at such date; 

 

	 	(c)	Guarantors representing at least 65% of consolidated EBITDA of the Group for that relevant period and at least 65% of the consolidated gross assets of the Group as at [insert date of Relevant Period] have provided
Transaction Security which continue to be in place; and 

  

	 	(d)	the Material Group Companies are as follows: 

 ●. [Note: This paragraph 4 is to be
given only with annual statements] 
  

	5	[We confirm that no Default is continuing.] [If this statement cannot be made, this certificate should identify the Default and the steps, if any, being taken to remedy it.] 

  
 163 

 CONFORMED COPY 
  

									
	Signed:	 	  
	 		 	Signed:	 	  

			
	[Director/member of Management]	 		 	[Director/member of Management]
	Of	 		 	of
	[Parent]	 		 	[Parent]

  
 164 

 CONFORMED COPY 
  

 Schedule 9 

Form of Increase Confirmation 
  

			
	To:	  	● as Agent and ● as Security Agent
		
	From:	  	[the Accordion Lender] (the Accordion Lender)
		
	Dated:	  	●
	
	Dear Sirs

 Innospec Inc. – U.S.$200,000,000 Facility Agreement originally dated 14 December 2011 (as subsequently amended
and restated from time to time) (the Facility Agreement) 
  

	1	We refer to the Facility Agreement. This is an Increase Confirmation. Terms defined in the Facility Agreement have the same meaning in this Increase Confirmation unless given a different meaning in this Increase
Confirmation. 

  

	2	We refer to clause 2.4 (Accordion Facility) of the Facility Agreement. 

  

	3	The Accordion Lender agrees to assume and will assume all of the obligations corresponding to the Commitment specified in the schedule (Relevant Commitment) as if it was an Original Lender under the Facility
Agreement. 

  

	4	The proposed date on which the increase in relation to the Accordion Lender and the Relevant Commitment is to take effect (Increase Date) is ●. 

 

	5	[On the Increase Date, the Accordion Lender becomes party to the relevant Finance Documents as a Lender.]2 

 

	6	[The Facility Office and address, fax number and attention details for notices to the Accordion Lender for the purposes of clause 31 (Notices) are set out in the
schedule.]3 

  

	7	[The Accordion Lender expressly acknowledges the limitations on the Lenders’ obligations referred to in clause 2.4(f) (Accordion Facility).] 

 

	8	The Accordion Lender confirms, for the benefit of the Agent and without liability to any Obligor, that it is: 

  

	 	(a)	[a Qualifying Lender (other than a Treaty Lender);] 

  

	 	(b)	[a Treaty Lender;] 

  

	 	(c)	[not a Qualifying Lender]. 

  

	2 	Include if a New Commitments Lender. 

	3 	Include if a New Commitments Lender. 

  
 165 

 CONFORMED COPY 
  

	9	[The Accordion Lender confirms that the person beneficially entitled to interest payable to that Accordion Lender in respect of an advance under a Finance Document is either: 

 

	 	(a)	a company resident in the United Kingdom for United Kingdom tax purposes; or 

  

	 	(b)	a partnership each member of which is: 

  

	 	(i)	a company so resident in the United Kingdom; or 

  

	 	(ii)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of
section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or 

  

	 	(c)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the
chargeable profits (within the meaning of section 19 of the CTA) of that company.] 

  

	10	[The Accordion Lender confirms that it holds a passport under the HMRC DT Treaty Passport scheme (reference number ●) and is tax resident in ●4, so that
interest payable to it by borrowers is generally subject to full exemption from UK withholding tax and requests that the Obligors’ Agent notify: 

  

	 	(a)	each Borrower which is a Party as a Borrower as at the Increase Date; and 

  

	 	(b)	each Additional Borrower which becomes an Additional Borrower after the Increase Date, 

 that it
wishes that scheme to apply to the Facility Agreement.5] 
  

	11	[This Increase Confirmation acts as notice to the Agent (on behalf of each Finance Party) and, upon delivery in accordance with clause 24.7 (Copy of Transfer Certificate or Assignment Agreement or Increase Confirmation
to Parent), to the Parent (on behalf of each Obligor) of the accession referred to in this Increase Confirmation.]6 

 

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

 

	13	This Increase Confirmation and any non-contractual obligations arising out of or in connection with it are governed by English law. 

  

	14	This Increase Confirmation has been entered into on the date stated at the beginning of this Increase Confirmation. 

 

	4 	Insert jurisdiction of tax residence. 

	5 	This confirmation must be included if the New Commitments Lender holds a passport under the HMRC DT Treaty Passport scheme and wishes that scheme to apply to the Facility Agreement. 

	6 	Include if New Commitments Lender. 

  
 166 

 CONFORMED COPY 
  

	Note:	The execution of this Increase Confirmation may not be sufficient for the New Commitments Lender to obtain the benefit of the Transaction Security in all jurisdictions. It is the responsibility of the New Commitments
Lender to ascertain whether any other documents or other formalities are required to obtain the benefit of the Transaction Security in any jurisdiction and, if so, to arrange for execution of those documents and completion of those formalities.

  
 167 

 CONFORMED COPY 
  

 The Schedule 

Relevant Commitment/rights and obligations to be assumed by the [Increase/Accordion] Lender 

[insert relevant details] 
 [Facility office
address, fax number and attention details for notices and account details for payments] 
  

			
	Accordion Lender
		
	By:	 	

 This Increase Confirmation is accepted as an Increase Confirmation for the purposes of the Facility Agreement by the Agent.

 The Increase Date is confirmed as ●. 
  

			
	Agent
		
	By:	 	
	
	Security Agent
		
	By:	 	

  
 168 

 CONFORMED COPY 
  

 Schedule 10 

Timetables 
  

									
	 	  	Loans in
euro	  	Loans in
dollars	  	Loans in
sterling	  	Loans in
other
currencies
					
	 Agent notifies the Parent if a currency is approved as an Optional Currency in accordance with clause 4.3 (Conditions relating to
Optional Currencies)
	  	—  	  	—  	  	—  	  	U-4
					
	 Delivery of a duly completed Utilisation Request (clause 5.1 (Delivery of a Utilisation Request))
	  	 U-3

9.00 a.m.
	  	 U-3

9.00 a.m.
	  	 U-1

9.00 a.m.
	  	 U-3

9.00 a.m.

					
	 Agent determines (in relation to a Utilisation) the Base Currency Amount of the Loan, if required under clause 5.4 (Lenders’
participation)
	  	 U-3

11.00 a.m.
	  	 U-3

11.00 a.m.
	  	 U-1

11.00 a.m.
	  	 U-3

11.00 a.m.

					
	 Agent notifies the Lenders of the Loan in accordance with clause 5.4 (Lenders’ participation)
	  	 U-3

3.00 p.m.
	  	 U-3

3.00 p.m.
	  	 U-1

3.00 p.m.
	  	 U-3

3.00 p.m.

					
	 Agent receives a notification from a Lender under clause 6.2 (Unavailability of a currency)
	  	 U-3

5.00 p.m.
	  	 U-3

5.00 p.m.
	  	 U-1

5.00 p.m.
	  	 U-3

5.00 p.m.

					
	 Agent gives notice in accordance with clause 6.2 (Unavailability of a currency)
	  	 U-2

9.30 a.m.
	  	 U-2

9.30 a.m.
	  	 U

9.30 a.m.
	  	 U-2

9.30 a.m.

  
 169 

 CONFORMED COPY 
  

									
	LIBOR/EURIBOR is fixed	  	Quotation Day as of 11.00 a.m. London time in respect of LIBOR	  	Quotation Day as of 11.00 a.m. London time in respect of LIBOR	  	Quotation Day as of 11.00 a.m.	  	Quotation Day as of 11.00 a.m.
					
		  	Quotation Day as of 11.00 a.m. Brussels time in respect of EURIBOR	  		  		  	

 U = date of utilisation 

U-X = X Business Days prior to date of utilisation  

  
 170 

 CONFORMED COPY 
  

 Schedule 3 

Commitments following Required Transfers 
  

					
	 Lender
	  	Commitment	 
	 Lloyds Bank plc
	  	$	36,000,000	  
	 U.S. Bank National Association
	  	$	36,000,000	  
	 Barclays Bank PLC
	  	$	36,000,000	  
	 Credit Suisse AG
	  	$	20,000,000	  
	 National Westminster Bank Plc
	  	$	36,000,000	  
	 Wells Fargo Bank N.A.
	  	$	36,000,000	  
	 Clydesdale Bank PLC (trading as Yorkshire Bank)
	  	 	Nil	  

  
 12 

 CONFORMED COPY 
  

 THE PARENT 

INNOSPEC INC. 
  

			
	By:	 	DAVID E. WILLIAMS
		
	Address:	 	8310 South Valley Hwy
		 	Suite 350
		 	Englewood, CO 80112
		 	USA
		
	Fax:	 	+1-303-792-5668

 THE ORIGINAL BORROWERS 

INNOSPEC LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837
	
	INNOSPEC FUEL SPECIALTIES LIMITED

  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 INNOSPEC FINANCE LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

  
 13 

 CONFORMED COPY 
  

			
	INNOSPEC DEVELOPMENTS LIMITED
		
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 INNOSPEC INC. 
  

			
	By:	 	DAVID E. WILLIAMS
		
	Address:	 	8310 South Valley Hwy
		 	Suite 350
		 	Englewood, CO 80112
		 	USA
		
	Fax:	 	+1-303-792-5668
	
	INNOSPEC FUEL SPECIALITIES LLC

  

			
	By:	 	DAVID E. WILLIAMS
		
	Address:	 	8310 South Valley Hwy
		 	Suite 350
		 	Englewood, CO 80112
		 	USA
		
	Fax:	 	+1-303-792-5668

  
 14 

 CONFORMED COPY 
  

			
	INNOSPEC ACTIVE CHEMICALS LIMITED
		
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 THE ORIGINAL GUARANTORS 

INNOSPEC LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837
	
	INNOSPEC FUEL SPECIALTIES LIMITED

  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 INNOSPEC DEVELOPMENTS LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

  
 15 

 CONFORMED COPY 
  

 INNOSPEC INC. 
  

			
	By:	 	DAVID E. WILLIAMS
		
	Address:	 	8310 South Valley Hwy
		 	Suite 350
		 	Englewood, CO 80112
		 	USA
		
	Fax:	 	+1-303-792-5668

 OBOADLER COMPANY LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 INNOSPEC TRADING LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

  
 16 

 CONFORMED COPY 
  

 INNOSPEC HOLDINGS LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 INNOSPEC INTERNATIONAL LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 ALCOR CHEMIE VERTRIEBS GMBH 
  

			
	By:	 	MARTIN WETTSTEIN AND ANDRE RICHIGER
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 INNOSPEC (PLANT) LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

  
 17 

 CONFORMED COPY 
  

 INNOSPEC FINANCE LIMITED 
  

			
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 INNOSPEC GMBH 
  

			
	By:	 	MARTIN WETTSTEIN AND ANDRE RICHIGER
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837

 INNOSPEC FUEL SPECIALTIES LLC 
  

			
	By:	 	DAVID E. WILLIAMS
		
	Address:	 	8310 South Valley Hwy
		 	Suite 350
		 	Englewood, CO 80112
		 	USA
		
	Fax:	 	+1-303-792-5668

 INNOSPEC ACTIVE CHEMICALS LLC 
  

			
	By:	 	DAVID E. WILLIAMS
		
	Address:	 	510 West Grimes Ave
		 	High Point
		 	NC27669
		 	USA
		
	Fax:	 	+1-336-889-6047

  
 18 

 CONFORMED COPY 
  

			
	INNOSPEC ACTIVE CHEMICALS LIMITED
		
	By:	 	BRIAN WATT
		
	Address:	 	Innospec Manufacturing Park
		 	Oil Sites Road
		 	Ellesmere Port
		 	Cheshire
		 	CH65 4EY
		
	Fax:	 	0151 348 5837
	
	INNOSPEC OIL FIELD CHEMICALS LLC

  

			
	By:	 	DAVID E. WILLIAMS
		
	Address:	 	2711 Canterville Rd.
		 	Ste. 400
		 	Wilmington
		 	DE 19808
		 	USA
		
	Fax:	 	+1-303-792-5668

 INNOSPEC STRATA HOLDINGS LLC 
  

			
	By:	 	DAVID E. WILLIAMS
		
	Address:	 	2711 Canterville Rd.
		 	Ste. 400
		 	Wilmington
		 	DE 19808
		 	USA
		
	Fax:	 	+1-303-792-5668

 STRATA CONTROL SERVICES, INC. 
  

			
	By:	 	DAVID E. WILLIAMS
		
	Address:	 	1811 West Mill St.
		 	Crowley
		 	LA 70527
		 	USA
		
	Fax:	 	+1-337-785-0004

  
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 THE ARRANGERS 

BARCLAYS BANK PLC 
  

			
	By:	 	CLARE MORGAN

 CREDIT SUISSE AG 
  

			
	By:	 	PETER ZIMMERLI AND SIMON HAGMANN

 LLOYDS BANK PLC 
  

			
	By:	 	PAUL STANLEY

  

			
	THE ROYAL BANK OF SCOTLAND PLC ACTING AS AGENT FOR NATIONAL WESTMINSTER BANK PLC
		
	By:	 	DAVID NODEN

 WELLS FARGO BANK N.A. 
  

			
	By:	 	JOHN PELOUBET

 U.S. BANK NATIONAL ASSOCIATION 
  

			
	By:	 	GREG BLANCHARD

  
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 THE ORIGINAL LENDERS 

BARCLAYS BANK PLC 
  

			
	By:	 	CLARE MORGAN

 CREDIT SUISSE AG 
  

			
	By:	 	PETER ZIMMERLI AND SIMON HAGMANN

 LLOYDS BANK PLC 
  

			
	By:	 	PAUL STANLEY

 NATIONAL WESTMINSTER BANK PLC 
  

			
	By:	 	DAVID NODEN

 WELLS FARGO BANK N.A. 
  

			
	By:	 	JOHN PELOUBET

 U.S. BANK NATIONAL ASSOCIATION 
  

			
	By:	 	GREG BLANCHARD

  
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 THE ORIGINAL BILATERAL BANKS 

BARCLAYS BANK PLC 
  

			
	By:	 	CLARE MORGAN

 CREDIT SUISSE AG 
  

			
	By:	 	PETER ZIMMERLI AND SIMON HAGMANN

 LLOYDS BANK PLC 
  

			
	By:	 	PAUL STANLEY

 NATIONAL WESTMINSTER BANK PLC 
  

			
	By:	 	DAVID NODEN

  
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 THE ORIGINAL HEDGING BANKS 

BARCLAYS BANK PLC 
  

			
	By:	 	CLARE MORGAN

 LLOYDS BANK PLC 
  

			
	By:	 	PAUL STANLEY

 NATIONAL WESTMINSTER BANK PLC 
  

			
	By:	 	DAVID NODEN

 WELLS FARGO BANK N.A. 
  

			
	By:	 	JOHN PELOUBET

  
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 THE DOCUMENT CO-ORDINATOR 

BARCLAYS BANK PLC 
  

			
	By:	 	CLARE MORGAN

  
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 THE AGENT 

LLOYDS BANK PLC 
  

			
	By:	 	IAIN BROWN
		
		 	Contact details in respect of operational matters (such as Utilisation Requests, interest rate fixing, interest rate/fee calculations and payments):
		
	Attention:	 	Wholesale Loans Servicing Agency Operations
		
	Address:	 	 Citymark
 150 Fountainbridge

Edinburgh
 EH3 9PE

		
	Fax:	 	+44 (0)131 229 0234
		
		 	Contact details in respect of non-operational matters (such as documentation, covenant compliance, amendments and waivers):
		
	Attention:	 	Wholesale Loans Agency
		
	Address:	 	 Citymark
 150 Fountainbridge

Edinburgh
 EH3 9PE

		
	Fax:	 	+44 (0)131 229 0234

  
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 THE SECURITY AGENT 

LLOYDS BANK PLC 
  

			
	By:	 	IAIN BROWN
		
	Attention:	 	Wholesale Loans Agency
		
	Address:	 	Citymark
		 	150 Fountainbridge
		 	Edinburgh
		 	EH3 9PE
		
	Fax:	 	+44 (0)131 229 0234

  
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Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}]]