Document:

EX-4.3

 Exhibit 4.3 

 
  

PQ CORPORATION 
  

 
 NOTE PURCHASE
AGREEMENT 
  
  

Dated as of May 4, 2016 

$525,000,000 Floating Rate Senior Notes due May 1, 2022 
  

 
  

 

 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
			
	 1.
	 	 AUTHORIZATION OF NOTES
	  	 	1	 
				
		 	 1.1.
	 	Description of Notes to be Issued	  	 	1	 
		 	 1.2.
	 	Guarantee; Release	  	 	1	 
		 	 1.3.
	 	Interest Rate and Reset Procedures	  	 	2	 
		 	 1.4.
	 	Illegality	  	 	3	 
			
	 2.
	 	 SALE AND PURCHASE OF NOTES
	  	 	3	 
			
	 3.
	 	 CLOSING
	  	 	4	 
			
	 4.
	 	 CONDITIONS PRECEDENT
	  	 	4	 
				
		 	 4.1.
	 	Conditions to Closing	  	 	4	 
			
	 5.
	 	 REPRESENTATIONS AND WARRANTIES OF THE COMPANY
	  	 	6	 
				
		 	 5.1.
	 	Organization; Power and Authority	  	 	6	 
		 	 5.2.
	 	Authorization, etc.	  	 	7	 
		 	 5.3.
	 	Disclosure	  	 	7	 
		 	 5.4.
	 	Organization and Ownership of Shares of Subsidiaries; Affiliates	  	 	7	 
		 	 5.5.
	 	Governmental Approvals; No Conflicts	  	 	8	 
		 	 5.6.
	 	Litigation; Observance of Agreements, Statutes and Orders	  	 	8	 
		 	 5.7.
	 	Taxes	  	 	9	 
		 	 5.8.
	 	Title to Property; Leases	  	 	9	 
		 	 5.9.
	 	Licenses, Permits, etc.	  	 	9	 
		 	 5.10.
	 	Compliance with ERISA	  	 	9	 
		 	 5.11.
	 	Private Offering by the Company	  	 	10	 
		 	 5.12.
	 	Use of Proceeds	  	 	10	 
		 	 5.13.
	 	Labor Disputes	  	 	10	 
		 	 5.14.
	 	Federal Reserve Regulations	  	 	11	 
		 	 5.15.
	 	Foreign Assets Control Regulations, etc.	  	 	11	 
		 	 5.16.
	 	Investment Company Act	  	 	11	 
		 	 5.17.
	 	Environmental Matters	  	 	11	 
		 	 5.18.
	 	Solvency of Guarantors	  	 	12	 
		 	 5.19.
	 	Compliance with Laws	  	 	12	 
			
	 6.
	 	 REPRESENTATIONS OF THE PURCHASERS
	  	 	12	 
				
		 	 6.1.
	 	Purchase for Investment	  	 	12	 
		 	 6.2.
	 	Restricted Securities	  	 	13	 
			
	 7.
	 	INFORMATION AS TO COMPANY	  	 	13	 
				
		 	 7.1.
	 	Financial and Business Information	  	 	13	 
		 	 7.2.
	 	Officer’s Certificate	  	 	15	 
		 	 7.3.
	 	Inspection	  	 	16	 
		 	 7.4.
	 	Board Observer Right	  	 	16	 
			
	 8.
	 	 PREPAYMENT OF THE NOTES
	  	 	17	 

  
 - i - 

									
		 	8.1.	 	Required Prepayments; Maturity	  	 	17	 
		 	8.2.	 	Optional Prepayments; Acceleration of the Notes	  	 	17	 
		 	8.3.	 	Mandatory Offer to Prepay Upon Change of Control	  	 	18	 
		 	8.4.	 	Mandatory Offer to Prepay Upon Disposition of Certain Assets	  	 	20	 
		 	8.5.	 	Allocation of Partial Prepayments	  	 	21	 
		 	8.6.	 	Maturity; Surrender, etc.	  	 	21	 
		 	8.7.	 	Purchase of Notes	  	 	22	 
		 	8.8.	 	Make-Whole Amount	  	 	22	 
			
	 9.
	 	AFFIRMATIVE COVENANTS	  	 	24	 
				
		 	9.1.	 	Compliance with Law	  	 	24	 
		 	9.2.	 	Insurance	  	 	24	 
		 	9.3.	 	Maintenance of Properties	  	 	24	 
		 	9.4.	 	Payment of Taxes and Claims.	  	 	25	 
		 	9.5.	 	Existence, etc	  	 	25	 
		 	9.6.	 	Additional Subsidiary Guarantors	  	 	25	 
		 	9.7.	 	Ranking of Notes	  	 	25	 
		 	9.8.	 	Books and Records	  	 	26	 
		 	9.9.	 	Use of Proceeds	  	 	26	 
		 	9.10.	 	Environmental Reporting Requirements	  	 	26	 
			
	 10.
	 	NEGATIVE COVENANTS	  	 	26	 
				
		 	10.1.	 	Limitation on Restricted Payments	  	 	27	 
		 	10.2.	 	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock	  	 	38	 
		 	10.3.	 	Liens	  	 	46	 
		 	10.4.	 	Merger, Consolidation or Sale of All or Substantially All Assets	  	 	46	 
		 	10.5.	 	Transactions with Affiliates	  	 	49	 
		 	10.6.	 	Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	 	52	 
		 	10.7.	 	Asset Sales	  	 	55	 
		 	10.8.	 	Nature of Business	  	 	58	 
		 	10.9.	 	No Layering of Debt	  	 	59	 
		 	10.10.	 	Limited Condition Acquisition	  	 	59	 
			
	 11.
	 	EVENTS OF DEFAULT	  	 	60	 
			
	 12.
	 	REMEDIES ON DEFAULT, ETC	  	 	62	 
				
		 	12.1.	 	Acceleration	  	 	62	 
		 	12.2.	 	Other Remedies	  	 	63	 
		 	12.3.	 	Rescission	  	 	63	 
		 	12.4.	 	No Waivers or Election of Remedies, Expenses, etc.	  	 	64	 
			
	 13.
	 	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES	  	 	64	 
				
		 	13.1.	 	Registration of Notes	  	 	64	 
		 	13.2.	 	Transfer and Exchange of Notes	  	 	64	 
		 	13.3.	 	Replacement of Notes	  	 	65	 

  
 - ii - 

									
			
	 14.
	 	PAYMENTS ON NOTES	  	 	65	 
				
		 	14.1.	 	Place of Payment	  	 	65	 
		 	14.2.	 	Home Office Payment	  	 	65	 
		 	14.3.	 	Payments Generally	  	 	66	 
		 	14.4.	 	Ratable Sharing	  	 	66	 
			
	 15.
	 	EXPENSES, ETC	  	 	67	 
				
		 	15.1.	 	Transaction Expenses	  	 	67	 
		 	15.2.	 	Survival	  	 	68	 
			
	 16.
	 	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT	  	 	68	 
			
	 17.
	 	AMENDMENT AND WAIVER	  	 	68	 
				
		 	17.1.	 	Requirements	  	 	68	 
		 	17.2.	 	Solicitation of Holders of Notes	  	 	69	 
		 	17.3.	 	Binding Effect, etc	  	 	70	 
		 	17.4.	 	Notes held by Company, etc.	  	 	70	 
			
	 18.
	 	NOTICES	  	 	70	 
			
	 19.
	 	[INTENTIONALLY OMITTED]	  	 	72	 
			
	 20.
	 	CONFIDENTIAL INFORMATION	  	 	72	 
			
	 21.
	 	SUBSTITUTION OF PURCHASER	  	 	73	 
			
	 22.
	 	TAXES	  	 	73	 
				
		 	22.1.	 	Tax Gross Up	  	 	73	 
		 	22.2.	 	Tax Forms	  	 	74	 
		 	22.3.	 	Tax Receipts	  	 	74	 
		 	22.4.	 	Tax Indemnification	  	 	75	 
		 	22.5.	 	Mitigation	  	 	75	 
		 	22.6.	 	Survival	  	 	76	 
			
	 23.
	 	MISCELLANEOUS	  	 	76	 
				
		 	23.1.	 	Successors and Assigns	  	 	76	 
		 	23.2.	 	Jurisdiction and Process; Waiver of Jury Trial	  	 	76	 
		 	23.3.	 	Payments Due on Non-Business Days	  	 	77	 
		 	23.4.	 	Severability	  	 	77	 
		 	23.5.	 	Construction.	  	 	77	 
		 	23.6.	 	Effectiveness; Counterparts	  	 	77	 
		 	23.7.	 	Governing Law; Submission to Jurisdiction	  	 	78	 
		 	23.8.	 	Indemnification	  	 	78	 
		 	23.9.	 	Rules of Construction	  	 	79	 
			
	 24.
	 	NOTEHOLDER AGENT	  	 	80	 
				
		 	24.1.	 	Appointment	  	 	80	 
		 	24.2.	 	Delegation of Duties	  	 	81	 
		 	24.3.	 	Exculpatory Provisions	  	 	81	 

  
 - iii - 

									
		 	24.4.	 	Notice of Default	  	 	82	 
		 	24.5.	 	Non-Reliance on the Agent and Other Holders	  	 	82	 
		 	24.6.	 	Indemnification	  	 	82	 
		 	24.7.	 	The Agent in its Individual Capacity	  	 	83	 
		 	24.8.	 	Successor Agent	  	 	83	 
		 	24.9.	 	Agent’s Duties	  	 	84	 
		 	24.10.	 	Financial Liability	  	 	84	 

  
 - iv - 

					
	SCHEDULE A	  	-	  	Information Relating to Purchasers
	SCHEDULE B	  	-	  	Defined Terms
	SCHEDULE 5.4	  	-	  	Subsidiaries and Affiliates
			
	EXHIBIT 1.1	  	-	  	Form of Senior Note
	EXHIBIT 1.2	  	-	  	Form of Guarantee
	EXHIBIT 4.1(d)(i)	  	-	  	Form of Opinion of Counsel for the Company
	EXHIBIT 4.1(d)(ii)	  	-	  	Form of Opinion of Local Counsel for the Company

  

  
 - v - 

 PQ CORPORATION 

300 Lindenwood Drive 
 Valleybrooke
Corporate Center 
 Malvern, PA 19355 

(610) 651-4400 

Facsimile: 610-651-4273 

$525,000,000 Floating Rate Senior Notes due May 1, 2022 

Dated as of May 4, 2016 
 TO
EACH OF THE PURCHASERS LISTED IN 
 THE ATTACHED SCHEDULE A AND TO WILMINGTON TRUST, NATIONAL ASSOCIATION, AS NOTEHOLDER AGENT (IN SUCH
CAPACITY, THE “AGENT”): 
 Ladies and Gentlemen: 

PQ CORPORATION, a Pennsylvania corporation (the “Company”), agrees with you as follows: 

 

	 	1.	AUTHORIZATION OF NOTES. 

  

	 	1.1.	Description of Notes to be Issued. 

 The Company has authorized the issue
and sale of $525,000,000 aggregate principal amount of its Floating Rate Senior Notes due May 1, 2022 (the “Notes”, such term to include any such notes issued in substitution therefor pursuant to Section 13 of this Agreement)
provided that if the Existing Senior Notes have been refinanced or otherwise repaid prior to such date, the Notes will instead mature on May 1, 2023. Subject to Section 2 below, the Notes shall be substantially in the form set out in
Exhibit 1.1, with such changes therefrom, if any, as may be approved by you and the Company. Certain capitalized terms used in this Agreement are defined in Schedule B; references to a “Schedule” or an “Exhibit” are, unless
otherwise specified, to a Schedule or an Exhibit attached to this Agreement. 
  

	 	1.2.	Guarantee; Release. 

 (a) Guarantee. Subject to Section 1.2(b),
the payment by the Company of all amounts due on or in respect of the Notes and the performance by the Company of its obligations under this Agreement will be guaranteed by (i) each of Holdings and CPQ, (ii) each Restricted Subsidiary that
from time to time guarantees Indebtedness in respect of the Revolving Facility (other than any Foreign Subsidiary guaranteeing Foreign Subsidiary obligations thereunder), the Term Facility, the Existing Senior Notes and/or the Secured Notes, and
(iii) each Restricted Subsidiary that guarantees any other Indebtedness under any other syndicated bank or capital markets Indebtedness of the Company in an aggregated principal amount in excess of $50 million, pursuant to the Guarantee in
substantially the form of the attached Exhibit 1.2, as it may be amended or supplemented from time to time (the “Guarantee”). 

  
 - 1 - 

 (b) Release of Guarantee. Each holder of a Note acknowledges and agrees
that a Guarantee by a Guarantor shall provide by its terms that it shall be automatically and unconditionally released and discharged upon: 

(i) any sale, exchange, disposition or transfer (including through consolidation, merger or otherwise) of (a) the Capital Stock of such
Guarantor, after which such Guarantor is no longer a Restricted Subsidiary, or (b) all or substantially all the assets of such Guarantor (including to the Issuer or another Guarantor), which sale, exchange, disposition or transfer in each case
is not prohibited by the applicable provisions of this Agreement; 
 (ii) the release or discharge of such other guarantee that resulted in
the creation of such guarantee, in each case except a release, discharge or termination by or as a result of payment under such guarantee; 

(iii) the permitted designation of any Restricted Subsidiary that is a Guarantor as an Unrestricted Subsidiary pursuant to the provisions of
this Agreement; 
 (iv) the consolidation or merger of any Guarantor with and into the Company or another Guarantor that is the surviving
Person in such consolidation or merger, or upon the liquidation of such Guarantor following the transfer of all of its assets to the Company or another Guarantor; or 

(v) the discharge of obligations of the Guarantors with respect to their Guarantees of the Notes or the discharge of the Company’s
obligations with respect to the negative covenants of this agreement in accordance with the terms of this Agreement. 

Notwithstanding the foregoing, any guarantee by Holdings, CPQ or any other direct or indirect parent company may be
automatically and unconditionally released and discharged for any reason. 
 Each holder acknowledges that the Guarantee by
Holdings and its subsidiary, CPQ, are being provided solely for the purpose of allowing the Company to satisfy its reporting obligations under this Agreement by furnishing financial information relating to Holdings instead of the Company. Neither
Holdings nor CPQ will be subject to the restrictive covenants in this Agreement. 
  

	 	1.3.	Interest Rate and Reset Procedures. 

 (a) The Notes shall bear interest
(computed on the basis of a 360-day year and the actual number of days elapsed) on the unpaid principal thereof from the date of issuance at a floating rate equal to the Adjusted LIBOR Rate for the Interest
Period in effect from time to time, payable quarterly in arrears on each Interest Payment Date and, to the extent permitted by applicable law, additional interest shall accrue on all principal of, any overdue payment of interest on and any
Make-Whole Amount and any other applicable premium and Breakage Amount (as provided herein) owed on the Notes from the due date thereof (whether by acceleration or otherwise) at the Default Rate until paid. 

  
 - 2 - 

 (b) The Adjusted LIBOR Rate shall be determined by the Agent, and prompt notice
thereof shall be given to the holders of the Notes and the Company after the Rate Determination Date, together with a calculation of the Adjusted LIBOR Rate for such Interest Period, the number of days in such Interest Period, the date on which
interest for such Interest Period will be paid and the amount of interest to be paid to each holder of Notes on such date. Any such determination made in accordance with the provisions of this Agreement, shall be conclusive and binding absent
manifest error. 
  

	 	1.4.	Illegality. 

 If, after the date hereof, any change in any law or
regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any holder of Notes to hold or collect upon any Notes because of its relationship to the
LIBOR Rate or to give effect to its obligations as contemplated hereby with respect to any Note determined with reference to the LIBOR Rate, then by written notice to the Company (with a copy to the Agent): (a) such holder shall promptly
(i) notify the Company of such circumstances, including the effective date of such law, regulation or interpretation (which notice shall be withdrawn whenever such circumstances no longer exist) and (ii) request the Substituted Rate Bank
to specify the rate described in the definition of “Substituted Rate”; and (b) if such notice is given, (i) the interest rate applicable to the Notes, as the case may be, held by such holder shall be determined with reference to
the relevant Substituted Rate, effective as of the effective date specified in such notice, (ii) each reference in this Agreement with respect to such LIBOR Rate shall be deemed thereafter to be a reference to the relevant Substituted Rate, and
(iii) such Substituted Rate shall be imposed retroactively on such Notes, beginning with the effective date specified in such notice, and shall continue until the first day of the next succeeding Interest Period after which the notice referred
to in clause (a) above shall be withdrawn. 
 As used in this Section 1.4 “Substituted Rate” means for
the Notes of either series, at any time, the annual rate determined by the Substituted Rate Bank to be the rate at which the Substituted Rate Bank, in accordance with its customary practices, offers to place deposits in Dollars for a period of one
month with leading banks in the London interbank market at approximately 11:00 a.m., London time, on the Business Day immediately preceding the Rate Determination Date, in a Representative Amount; and “Substituted Rate Bank” means any
leading bank participating in the London interbank market which does not act as lender to, or regular underwriter of the securities of, the Company or any of its Affiliates and which is selected by the Company and reasonably acceptable to the
Administrative Holders. 
  

	 	2.	SALE AND PURCHASE OF NOTES. 

 Subject to the terms and conditions of this
Agreement, the Company will issue and sell to you and each of the other purchasers named in Schedule A (the “Other Purchasers”), and you and the Other Purchasers will purchase from the Company, at the Closing upon satisfaction or waiver of
the conditions set forth in Section 4.1, Notes in the denomination and principal amount specified opposite your names in Schedule A at the purchase price of 98% of the principal amount thereof. 

  
 - 3 - 

	 	3.	CLOSING. 

 (a) The sale and purchase of the Notes to be purchased by you
and the Other Purchasers shall occur at the offices of Willkie Farr & Gallagher LLP, 787 Seventh Avenue, New York, NY 10019 at 9:00 a.m., New York time, at a closing upon satisfaction or waiver of the conditions set forth in
Section 4.1 (the “Closing”) on any Business Day on or prior to May 4, 2016 as may be agreed upon by the Company and you and the Other Purchasers. At the Closing the Company will deliver to you the Notes to be purchased by you in
the form of a single Note (or such greater number of Notes in denominations of at least $100,000 as you may request) dated the Closing Date and registered in your name (or in the name of your nominee), against delivery by you to the Company or their
order of immediately available funds in the amount of the purchase price therefor by wire transfer of immediately available funds for the account of the Company (for the benefit of the Company) to account number 9429352149 at Bank of America, 100
Federal Street, Boston, Massachusetts 02110, ABA No. for wires 026009593. 
 (b) If on the Closing Date the Company fails to
tender the Notes to you as provided in this Section 3, or any of the conditions specified in Section 4.1 shall not have been fulfilled to your satisfaction or waived, you shall, at your election, be relieved of all further obligations
under this Agreement, without thereby waiving any rights or remedies you may have by reason of such failure or such nonfulfillment. 
  

	 	4.	CONDITIONS PRECEDENT. 

  

	 	4.1.	Conditions to Closing. 

 Your obligation to purchase and pay for the
Notes to be sold to you at the Closing is subject to the fulfillment, or waiver by you, prior to or at the Closing, of the following conditions (the date such conditions precedent are satisfied or waived being referred to as the “Closing
Date”): 
 (a) Representations and Warranties. The representations and warranties of the Company in this
Agreement shall be true and correct in all material respects when made and at the Closing Date. 
 (b) Performance; No
Default. The Company shall have performed and complied with all agreements and conditions contained in this Agreement required to be performed or complied with by it prior to or at the Closing and after giving effect to the issue and sale of the
Notes (and the application of the proceeds thereof as contemplated by Section 5.12) no Default or Event of Default shall have occurred and be continuing. 

(c) Compliance Certificates. 

(i) Officer’s Certificate. The Company shall have delivered to you an Officer’s Certificate, dated the Closing Date,
certifying that the conditions specified in Sections 4.1(a), 4.1(b) and 4.1(g) have been fulfilled. 

  
 - 4 - 

 (ii) Secretary’s Certificate. The Company shall have delivered to you a
certificate certifying as to the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the Notes and this Agreement. 

(d) Opinions of Counsel. You shall have received opinions in form and substance satisfactory to you, dated the Closing
Date, from (i) Weil, Gotshal & Manges LLP, counsel to the Company, in substantially the form attached as Exhibit 4.1(d)(i) and (ii) local counsel in the State of Pennsylvania in substantially the form attached as Exhibit
4.1(d)(ii) (and the Company instructs its counsel to deliver such opinions to you). 
 (e) Purchase Permitted By
Applicable Law, etc. On the Closing Date your purchase of Notes shall (i) be permitted by the laws and regulations of each jurisdiction to which you are subject and (ii) not violate any applicable law or regulation (including, without
limitation, Regulation U, T or X of the Board of Governors of the Federal Reserve System). 
 (f) Payment of Fees and
Expenses. Without limiting the provisions of Section 15.1, the Company shall have paid on or before the Closing Date (i) all fees required to be paid on or before Closing Date hereunder including the reasonable and documented out-of-pocket fees and expenses of GSO Capital Partners LP incurred in connection with this Agreement and the transactions contemplated hereunder, (ii) the fees and the
reasonable and documented out of pocket fees and expenses of the Agent, and (iii) all other accrued and unpaid fees, costs and expenses otherwise owed pursuant to this Agreement to the extent then due and payable at Closing, including any such
costs, fees and expenses arising under or referenced in Section 15.1, including, to the extent invoiced at least two Business Days before the Closing Date, all reasonable and documented fees, charges and disbursements of Willkie Farr &
Gallagher LLP, and Alston & Bird LLP, counsel to the Agent, in each case, to the extent reflected in a statement of such counsel rendered to the Company at least two Business Days prior to the Closing Date. 

(g) Changes in Corporate Structure. Since December 31, 2015, the Company shall not have changed its jurisdiction of
organization and shall not have succeeded to all or any substantial part of the liabilities of any other entity, other than pursuant to the Reorganization. 

(h) Guarantee. Each Guarantor shall have executed and delivered the Guarantee in favor of you and the Other Purchasers
and you shall have received a copy of the executed Guarantee. 
 (i) Note Documents. This Agreement shall have been
executed and delivered by the Agent, the Company and each Purchaser. The Agent shall have received the information required to be delivered pursuant to Schedule A from each of the Purchasers. The Company shall have executed and delivered a
fee letter to the Agent. 
 (j) Proceedings and Note Documents. All corporate and other proceedings in connection with
issuance of the Notes issued under this Agreement and all Note Documents and instruments related thereto shall be reasonably satisfactory to you and your special counsel, and you and your special counsel shall have received all such counterpart
originals or certified or other copies of such documents as you or they may reasonably request. 

  
 - 5 - 

 (k) Repayment of Certain Indebtedness. You shall have received an
Officer’s Certificate, dated as of the Closing Date, certifying that (i) attached thereto is a true, correct and complete copy of the Company’s notice of redemption, dated as of April 13, 2016, in respect of the entire
outstanding amount of the Company’s 8.750% Second Lien Senior Secured Notes due 2018 (the “Second Lien Notes”) to the holders of such notes in accordance with the terms of the Second Lien Indenture and that arrangements have been made
for the satisfaction and discharge of the Second Lien Indenture as of the Closing Date and (ii) all of the Company’s outstanding Indebtedness in respect of borrowed money under the Existing PQ Credit Agreement and the Existing Eco Credit
Agreement shall be repaid on the Closing Date. 
 (l) Governmental Authorizations, etc. All consents, approvals and
authorizations of, or registrations, filings or declarations with, any Governmental Authority required in connection with the execution, delivery and performance by the Company and each Guarantor of each Note Document to which it is a party shall
have been obtained and are in full force and effect at Closing. 
 (m) Consummation of the Reorganization. The
Reorganization shall have been consummated, in accordance with the terms and conditions of the Transaction Agreement, but without giving effect to any amendments, waivers or consents that are materially adverse to the interests of the holders of the
Notes, without the consent of the Administrative Holders. 
 (n) Receipt of Proceeds. Substantially concurrently with
the issuance of the Notes, the Company shall have received gross proceeds of at least $1.825 billion from the issuance or incurrence of the Term Facility and Secured Notes. 

(o) Revolving Credit Facility. Not more than $75.0 million of loans shall be borrowed or otherwise outstanding
pursuant to the Revolving Facility on the Closing Date. 
 (p) Know Your Customer Deliverables. You and the Agent
shall have received, at least three Business Days prior to the Closing Date, all documentation and other information that you have requested or that is required by regulatory authorities under applicable “know your customer” and similar
compliance procedures and under applicable anti-money-laundering rules and regulations, including, without limitation, the USA PATRIOT Act, and shall be reasonably satisfied with such information. You and the Agent each hereby confirm that you have
received all documentation and information required pursuant to this clause. 
  

	 	5.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY. 

 The Company represents
and warrants to you and, in the case of Sections 5.1, 5.2 and 5.15, to the Agent that: 
  

	 	5.1.	Organization; Power and Authority. 

 The Company is duly organized,
validly existing and in good standing or equivalent status under the laws of its jurisdiction of organization, and is duly qualified as a foreign Person and is in good standing or equivalent status to transact business in each jurisdiction in which
such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing or equivalent status would not, individually or in the aggregate, 

  
 - 6 - 

 
reasonably be expected to have a Material Adverse Effect. The Company and each Guarantor has the requisite corporate power and authority to own or hold under lease the properties it purports to
own or hold under lease and to transact its business as now conducted. The Company and each Guarantor has the requisite power and authority to execute and deliver the Note Documents to which it is a party and to perform the provisions thereof. 

 

	 	5.2.	Authorization, etc. 

 This Agreement and the other Note Documents have
been duly authorized by all necessary corporate action on the part of the Company, and this Agreement constitutes, and upon execution and delivery thereof each other Note Document will constitute, a legal, valid and binding obligation of the Company
enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’
rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

The Guarantee has been duly authorized by all necessary corporate, limited partnership or limited liability company action (as
the case may be) on the part of each Guarantor and upon execution and delivery thereof will constitute the legal, valid and binding obligation of each Guarantor, enforceable against each Guarantor in accordance with its terms, except as such
enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, fraudulent transfer, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and
(ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
  

	 	5.3.	Disclosure. 

 As of the Closing Date, all written information (other than
the Projections, other forward-looking information and information of a general economic or industry-specific nature) concerning Holdings, the Company and its Restricted Subsidiaries and the Transactions and that was included in the Offering
Memorandum or otherwise prepared by or on behalf of Holdings or its subsidiaries or their respective representatives and made available to any Purchaser in connection with the Transactions on or before the Closing Date (the “Information”),
when taken as a whole, did not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not materially misleading in light of the circumstances
under which such statements are made (after giving effect to all supplements and updates thereto from time to time). Since December 31, 2015, there has been no change in the financial condition, results of operations or business of the Company
and its Subsidiaries, taken as a whole, except for changes that individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect. 
  

	 	5.4.	Organization and Ownership of Shares of Subsidiaries; Affiliates. 

 (a)
Schedule 5.4 sets forth, in each case as of the Closing Date, (a) a correct and complete list of the name of each subsidiary of Holdings and the ownership interest therein held by Holdings or its applicable subsidiary, and (b) the type of
entity of Holdings and each of its subsidiaries. Except for those Subsidiaries listed in the definition of Unrestricted Subsidiary, each Subsidiary listed in Schedule 5.4 is designated as a Restricted Subsidiary of the Company. 

  
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 (b) Each of Holdings and each Subsidiary identified in Schedule 5.4 is a
corporation or other legal entity duly organized, validly existing and in good standing or equivalent status under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and is in good
standing or equivalent status in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing would not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect. 
  

	 	5.5.	Governmental Approvals; No Conflicts 

 The execution and delivery of the
Note Documents by the Company and each Guarantor party thereto and the performance by the Company and each Guarantor thereof (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental
Authority, except (i) such as have been obtained or made and are in full force and effect and (ii) such consents, approvals, registrations, filings, or other actions the failure to obtain or make which could not be reasonably expected to
have a Material Adverse Effect, (b) will not violate Requirements of Law applicable to the Company and each Guarantor which violation, in the case of this clause (b)(ii), would reasonably be expected to have a Material Adverse Effect and
(c) will not violate, result in a default under or result in the imposition of the Lien under (i) the Secured Notes, (ii) Senior Credit Facilities, (iii) the certificate of incorporation,
by-laws, operating agreement or other organizational document of the Company or such Guarantor or (iv) any other material Contractual Obligation to which the Company or such Guarantor is a party which
violation, in the case of this clause (c)(iv), would reasonably be expected to result in a Material Adverse Effect. 
  

	 	5.6.	Litigation; Observance of Agreements, Statutes and Orders. 

 (a) Except
as disclosed in the Offering Memorandum, there are no actions, suits, investigations or proceedings pending or, to the knowledge of the Company, threatened in writing against or affecting Holdings, the Company or any Restricted Subsidiary or any
property of Holdings, the Company or any Restricted Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate, would reasonably be expected to have a Material
Adverse Effect. 
 (b) None of Holdings, the Company or any Restricted Subsidiary is in default under any term of any
agreement or instrument to which it is a party or by which it is bound, or any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or is in violation of any applicable law, ordinance, rule or regulation (including
without limitation Environmental Laws and the USA PATRIOT Act) of any Governmental Authority, which default or violation, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

  
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	 	5.7.	Taxes. 

 Each of Holdings, the Company and each of its Subsidiaries has
timely filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it that are due and payable, including in its capacity as a withholding agent,
except (a) Taxes that are being contested in good faith by appropriate proceedings and for which the Company or such Subsidiary, as applicable, has set aside on its books adequate reserves in accordance with GAAP or (b) to the extent that
the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. 
  

	 	5.8.	Title to Property; Leases. 

 Holdings, the Company and its Restricted
Subsidiaries have good, valid, and marketable title to or a valid leasehold interest in their respective properties that are necessary in the ordinary conduct of its business except for minor defects in title that do not materially interfere with
its ability to conduct its business and to utilize such assets for its intended purposes and where the failure to have such title or other interest would not reasonably be expected, individually or in the aggregate, to have a Material Adverse
Effect. None of Holdings, the Company or any Restricted Subsidiary is in default (and, to the knowledge of the Company, there is no event or condition that would constitute a default after notice, lapse of time, or both) under any lease, and to the
knowledge of the Company, no counterparty is in default (and, to the knowledge of the Company, there is no event or condition that would constitute a default after notice, lapse of time, or both) under any lease except for any such defaults that
would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. All such properties and assets are owned free and clear of liens other than Permitted Liens. 

 

	 	5.9.	Licenses, Permits, etc. 

 The Company and its Restricted Subsidiaries own
or otherwise have a license or right to use all rights in Patents, Trademarks, Copyrights and other rights in works of authorship (including all copyrights embodied in software) and all other intellectual property rights (“IP Rights”) used
to conduct the businesses of the Company and its Restricted Subsidiaries as presently conducted without, to the knowledge of the Company, any infringement, misappropriation, dilution or other violation of the IP Rights of third parties, except to
the extent such failure to own or license or have rights to use would not, or where such infringement or misappropriation, dilution or other violation would not reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect. 
  

	 	5.10.	Compliance with ERISA. 

 (a) Each Plan is in compliance in form and
operation with its terms and with ERISA and the Code and all other applicable laws and regulations, except where any failure to comply would not reasonably be expected to result in a Material Adverse Effect. 

(b) No ERISA Event has occurred and is continuing or is reasonably expected to occur that, when taken together with all other
such ERISA Events for which liability is reasonably expected to occur, would reasonably be expected to result in a Material Adverse Effect. 

  
 - 9 - 

	 	5.11.	Private Offering by the Company. 

 Subject to the truth and accuracy of
your representations and the representations of the Other Purchasers in Section 6, the offer, sale and issuance of the Notes as contemplated by this Agreement are exempt from the registration requirements of the Securities Act, and the
qualification or registration requirements of applicable blue sky laws.
 Neither the Company nor anyone acting on its
behalf has offered the Notes or any similar securities for sale to, or solicited any offer to buy any of the same from, or otherwise approached or negotiated in respect thereof with, any person other than you and the Other Purchasers in a manner
that would require the Notes to be registered under the Securities Act. Neither the Company nor anyone acting on its behalf (other than you and the Other Purchasers, as to which the Company makes no representation or warranty) has taken, or will
take, any action that would subject the issuance or sale of the Notes to the registration requirements of Section 5 of the Securities Act. 

None of the Company and the Guarantors, any of their respective Affiliates, or any person acting on any of their behalf (other
than the Purchasers, as to whom the Company and the Guarantors make no representation or warranty) has engaged or will engage, in connection with the offering of the Notes, in any form of general solicitation or general advertising within the
meaning of Rule 502 under the Securities Act. With respect to those Notes sold in reliance upon Regulation S, (i) none of the Company, the Guarantors, any of their respective Affiliates or any person acting on their behalf (other than the
Purchasers, as to whom the Company and the Guarantors make no representation or warranty) has engaged or will engage in any directed selling efforts within the meaning of Regulation S and (ii) the Company, the Guarantors and their respective
Affiliates and any person acting on their behalf (other than the Purchasers, as to whom the Company and Guarantors make no representation or warranty) has complied and will comply with the offering restrictions set forth in Regulation S. 

5.12. Use of Proceeds. 

On the Closing Date, the Company will apply the proceeds of the sale of the Notes to (a) repay the outstanding principal
amount of any loans (and accrued and unpaid interest, if any) under the Existing PQ Credit Agreement and the Existing Eco Credit Agreement, (b) pay fees and expenses associated with the transactions contemplated hereunder and (c) finance a
portion of the Reorganization. On the Closing Date, the Company will cause the satisfaction and discharge of the Second Lien Indenture. 

5.13. Labor Disputes. 

Except as individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect: (a) there
are no strikes, lockouts or slowdowns against the Company or any of its Restricted Subsidiaries pending or, to the knowledge of the Company or any of its Restricted Subsidiaries, threatened and (b) the hours worked by and payments made to
employees of the Company and its Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable federal, state, local or foreign law dealing with such matters. 

  
 - 10 - 

	 	5.14.	Federal Reserve Regulations. 

 No part of the proceeds of the sale of
the Notes will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that results in a violation of the provisions of Regulation U or X. 

 

	 	5.15.	Foreign Assets Control Regulations, etc. 

 (a) (i) None of Holdings,
the Company nor any of its Restricted Subsidiaries nor, to the knowledge of the Company, any director, officer, agent, employee or Affiliate of any of the foregoing is a Sanctioned Person; and (ii) the Company will not directly or, to its
knowledge, indirectly, use the proceeds of the Notes or otherwise make available such proceeds to any Person, for the purpose of financing the activities of any Sanctioned Person. 

(b) To the extent applicable, the Company and each Guarantor is in compliance in all material respects with (i) Sanctions
applicable to it, (ii) the USA PATRIOT Act and (iii) the Anti-Corruption Laws. 
 (c) No part of the proceeds of
the Notes will be used, directly or, to the knowledge of the Company, indirectly, for any payments to any foreign governmental official or employee, political party, official of a political party, candidate for political office, or anyone else
acting in an official capacity, in order to improperly obtain, retain or direct business or obtain any improper advantage, in violation of the Anti-Corruption Laws. 
  

	 	5.16.	Investment Company Act. 

 Neither the Company nor any Restricted
Subsidiary is an “investment company” as defined in, or is required to be registered under, the Investment Company Act of 1940, as amended. 
  

	 	5.17.	Environmental Matters. 

 (a) Except for any matters that, individually or
in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, (i) neither the Company nor any of its Restricted Subsidiaries is subject to or has received notice of any Environmental Claim or any Environmental
Liability or knows of any basis for any Environmental Liability of the Company or any of its Restricted Subsidiaries and (ii) neither the Company nor any of its Restricted Subsidiaries has failed to comply with any Environmental Law or to
obtain, maintain or comply with any permit, license or other approval required under any Environmental Law. 
 (b) Neither
the Company nor any of its Restricted Subsidiaries has treated, stored, transported or Released any Hazardous Materials on, at or from any location, including any current or former Facility, or has knowledge of any other Releases of Hazardous
Materials at any current or former Facility, in either case in a quantity or manner that would reasonably be expected to either (i) require investigation, removal, or remediation under applicable Environmental Law, (ii) give rise to
Environmental Liability, or (iii) interfere with the Company’s or its Restricted Subsidiaries’ continued operations, that would have a Material Adverse Effect. 

  
 - 11 - 

	 	5.18.	Solvency of Guarantors. 

 As of the Closing Date, immediately after the
consummation of the Transactions to occur on the Closing Date, (i) the sum of the debt (including contingent liabilities) of the Company and its Restricted Subsidiaries, taken as a whole, does not exceed the fair value of the assets of the
Company and its Restricted Subsidiaries, taken as a whole; (ii) the present fair saleable value of the assets of the Company and its Restricted Subsidiaries, taken as a whole, is not less than the amount that will be required to pay the
probable liabilities (including contingent liabilities) of the Company and its Restricted Subsidiaries, taken as a whole, on their debts as they become absolute and matured; (iii) the capital of the Company and its Restricted Subsidiaries,
taken as a whole, is not unreasonably small in relation to the business of the Company and its Restricted Subsidiaries, taken as a whole, contemplated as of the Closing Date; and (iv) the Company and its Restricted Subsidiaries, taken as a
whole, do not intend to incur, or believe that they will incur, debts (including current obligations and contingent liabilities) beyond their ability to pay such debts as they mature in the ordinary course of business. For the purposes hereof, the
amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability
(irrespective of whether such contingent liability meets the criteria for accrual under Statement of Financial Accounting Standards No. 5). 
  

	 	5.19.	Compliance with Laws.

 Each of Holdings, the Company and each of its
Restricted Subsidiaries is in compliance with all Requirements of Law applicable to it or its property, except, in each case where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material
Adverse Effect. 
  

	 	6.	REPRESENTATIONS OF THE PURCHASERS. 

  

	 	6.1.	Purchase for Investment. 

 (a) Each Purchaser represents that it is
either (i) a QIB or (ii) an Accredited Investor and has such knowledge, skill, sophistication and experience in business and financial matters that it is capable of evaluating the merits and risks of an investment in the Notes. 

(b) Each Purchaser represents that it is purchasing the Notes solely for its own account or for one or more separate accounts
maintained by it or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided that the disposition of its or their property shall at all times be within its or their control. Each Purchaser
understands that the Notes have not been registered under the Securities Act and may be resold only if registered pursuant to the provisions of the Securities Act or if an exemption from registration is available, except under circumstances where
neither such registration nor such an exemption is required by law, and that the Company is not required to register the Notes. Such Purchaser agrees to the placement of a legend on certificates representing the Notes to that effect. 

  
 - 12 - 

	 	6.2.	Restricted Securities. 

 (a) Each Purchaser and each subsequent holder of
any Note, by its acceptance thereof, agrees to offer, sell or otherwise transfer (including, without limitation, by pledge or hypothecation) such Note only to (a) the Company or any of its Subsidiaries; or (b) to an Institutional
Accredited Investor that is purchasing the Note for its own account for investment purposes and not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. 

(b) Each Purchaser understands that the exemption from registration afforded by Rule 144 (the provisions of which are known to
such Purchaser) promulgated under the Securities Act depends on the satisfaction of various conditions, and that, if applicable, Rule 144 may afford the basis for sales only in limited amounts. 

(c) Except as disclosed to the Company, the Purchasers did not employ any broker or finder in connection with the transactions
contemplated in this Agreement and no fees or commissions are payable to the Purchasers except as otherwise provided for in this Agreement. 
  

	 	7.	INFORMATION AS TO COMPANY. 

  

	 	7.1.	Financial and Business Information. 

 The Company will deliver to the
Agent (for delivery to each holder of Notes other than, in the case of any holder that has notified the Agent that it does not wish to receive the budget delivered pursuant to Section 7.1(d), the budget): 

(a) Quarterly Statements—within 45 days after the end of each quarterly fiscal period in each fiscal year of the
Company (other than the last quarterly fiscal period of each such fiscal year) or, with respect to the fiscal periods ended June 30, 2016 and September 30, 2016, within 60 days after the end thereof, duplicate copies of, 

(i) a consolidated balance sheet of the Company and its Subsidiaries as at the end of such quarter, 

(ii) consolidated statements of income of the Company and its Subsidiaries for such quarter and (in the case of the second and third quarters)
for the portion of the fiscal year ending with such quarter, 
 (iii) consolidated statements of cash flows of the Company and its
Subsidiaries for such quarter or (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter, setting forth in each case in comparative form the figures for the corresponding periods in the previous
fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to quarterly financial statements generally; in addition, such financial statements shall be accompanied by a “Management’s Discussion and Analysis of
Financial Condition and Results of Operation” describing significant factors resulting in changes during such fiscal quarter from the previous fiscal quarter; and 

  
 - 13 - 

 (iv) a presentation of EBITDA of the Company in the form provided to the holders of the Secured
Notes. 
 (b) Annual Statements—within 90 days after the end of each fiscal year of the Company (or, with respect
to the fiscal year ended December 31, 2016, within 120 days after the end thereof), duplicate copies of, 
 (i) a consolidated balance
sheet of the Company and its Subsidiaries, as at the end of such year, and 
 (ii) consolidated statements of income, changes in
shareholders’ equity and cash flows of the Company and its Subsidiaries, for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP, and
accompanied by an opinion of independent certified public accountants of recognized national standing, which opinion shall state that such financial statements present fairly, in all material respects, the financial position of the companies being
reported upon and their results of operations and cash flows and have been prepared in conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made in accordance with generally
accepted auditing standards, and that such audit provides a reasonable basis for such opinion in the circumstances, and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to
the scope of such audit (except for any such qualification pertaining to the impending maturity of any Indebtedness within twelve months of the relevant audit); in addition, such financial statements shall be accompanied by a “Management’s
Discussion and Analysis of Financial Condition and Results of Operation” describing significant factors resulting in changes during such fiscal year from the previous fiscal year; and 

(iii) a presentation of EBITDA of the in the form provided to holders of the Secured Notes. 

(c) Unrestricted Subsidiaries—if, at the time of delivery of any financial statements pursuant to
Section 7.1(a) or (b), Unrestricted Subsidiaries account for more than 10% of (i) Consolidated Total Assets or (ii) the consolidated revenues of the Company and its Subsidiaries reflected in the consolidated statement of income
included in such financial statements, an unaudited balance sheet for all Unrestricted Subsidiaries taken as whole as at the end of the fiscal period included in such financial statements and the related unaudited statements of income,
stockholders’ equity and cash flows for such Unrestricted Subsidiaries for such period, together with consolidating statements reflecting all eliminations or adjustments necessary to reconcile such group financial statements to the consolidated
financial statements of the Company and its Subsidiaries, shall be delivered together with the financial statements required pursuant to Sections 7.1(a) and (b); 

(d) Budget—as soon as available, and in any event no later than 90 days after the commencement of each fiscal year
of the Company, a consolidated financial plan and forecast for each fiscal quarter of such fiscal year (including budgeted statements of income for the 

  
 - 14 - 

 
Company and its Restricted Subsidiaries on a consolidated basis and sources and uses of cash and balance sheets), with appropriate presentation and discussion in reasonable detail of the
principal assumptions upon which such budget is based; 
 (e) SEC and Other Reports—promptly upon their becoming
available and, as applicable, within five Business Days of the occurrence of the event required to be therein reported, one copy of (i) each financial statement, report, notice of an event of default or proxy statement or similar statement sent
by the Company or any Subsidiary to public securities holders generally, to holders of the Secured Notes or to holders of the Existing Senior Notes or to lenders party to its credit facilities, and (ii) each regular or periodic report, each
effective registration statement other than registration statements on Form S-8 (without exhibits except as expressly requested by such holder), and each final prospectus and all amendments thereto filed by
the Company or any Subsidiary with the SEC and of all press releases and other statements made available generally by the Company or any Subsidiary to the public concerning developments that are Material, including, for so long as the Notes are not
freely transferable under the Securities Act, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act; 

(f) Notice of Default or Event of Default—promptly, and in any event within five days after a Responsible Officer
becoming aware of the existence of any Default or Event of Default, a written notice to the Agent specifying the nature and period of existence thereof and what action the Company is taking or proposes, to the extent known, to take with respect
thereto; and 
 (g) ERISA Matters—Promptly upon any Responsible Officer of the Company becoming aware of the
occurrence of any ERISA Event that would reasonably be expected to have a Material Adverse Effect, a written notice to the Agent specifying the nature thereof. 

Notwithstanding the foregoing, the financial statements, information and other documents required to be provided in
Section 7.1, may be those of Holdings or any other direct or indirect parent of the Company, provided that if the financial information relates to such direct or indirect parent of the Company, the same is accompanied by consolidating
information that summarizes in reasonable detail the differences between the information of such parent, on the one hand, and the information relating to the Company on a standalone basis, on the other hand. The Company will be deemed to have
furnished the reports, information and notices referred to in this Section 7.1 if the Company, Holdings or any direct or indirect parent thereof has filed reports containing such information with the SEC or by posting such reports, information
and notices on Intralinks or any comparable password-protected online data system which will require a confidentiality acknowledgement. 
  

	 	7.2.	Officer’s Certificate. 

 Each set of financial
statements delivered to a holder of Notes pursuant to Section 7.1(b) shall be accompanied by a certificate of a Senior Financial Officer setting forth (which, in the case of electronic delivery of any such financial statements, shall be by
separate concurrent delivery of such certificate to each holder of Notes and to the Agent), a statement that such officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or

  
 - 15 - 

 
her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the beginning of the annual period covered by the statements then being furnished to the date
of the certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists (including any such
event or condition resulting from the failure of the Company or any Subsidiary to comply with any Environmental Law), specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take with respect
thereto. 
  

	 	7.3.	Inspection. 

 The Company will, and will cause each of its Restricted
Subsidiaries to, permit any authorized representative designated by any of the holders of the Notes that is an Institutional Accredited Investor to visit and inspect any of the properties of the Company and any of its Restricted Subsidiaries at
which the principal financial records and executive officers of the applicable Person are located, to inspect, copy and take extracts from its and their respective financial and accounting records, and to discuss its and their respective affairs,
finances and accounts with its and their Responsible Officers and independent public accountants (provided that the Company (or any of its subsidiaries) may, if it so chooses, be present at or participate in any such discussion), all upon reasonable
notice and at reasonable times during normal business hours; provided that, excluding such visits and inspections during the continuation of an Event of Default, (x) such representative shall not exercise such rights more often than one time
during any calendar year and (y) only one such time per calendar year shall be at the expense of the Company; provided further that when an Event of Default exists, the representative may do any of the foregoing at the expense of the Company at
any time during normal business hours and upon reasonable advance notice; provided further that, notwithstanding anything to the contrary herein, neither the Company nor any Restricted Subsidiary shall be required to disclose, permit the inspection,
examination or making of copies of or taking abstracts from, or discuss any document, information, or other matter (i) that constitutes non-financial trade secrets or
non-financial proprietary information of the Company and its subsidiaries and/or any of its customers and/or suppliers, (ii) in respect of which disclosure to the representative or any holder of the Notes
that is an Institutional Accredited Investor (or any of their respective representatives or contractors) is prohibited by applicable law or (iii) that is subject to attorney-client or similar privilege or constitutes attorney work product. 

 

	 	7.4.	Board Observer Right. 

 Until the earlier of (a) the consummation of
an initial public offering or (b) such time as GSO Capital Partners LP together with its affiliates collectively ceases to hold at least 50% of the Notes acquired by GSO Capital Partners LP on the Closing Date, the Company will invite a
representative or designee of GSO Capital Partners LP, who will be an officer or employee of GSO Capital Partners LP or a controlled affiliate thereof other than a portfolio company (an “Observer”), to attend all meetings of its Board of
Directors in a nonvoting observer capacity and, in this respect, will give such Observer copies of all notices, minutes, consents and other materials that it provides to its directors; provided, however, that (i) such Observer shall have a duty
of confidentiality to the Company comparable to such duty of a director of the Company; (ii) that the Company reserves the right to withhold any information and to exclude such 

  
 - 16 - 

 
Observer from any meeting or portion thereof (a) if GSO Capital Partners LP or its Observer owns (or has the contractual right to acquire) a material interest in an entity that derives a
majority of its revenue from activities that are directly competitive with the business of the Company and its affiliates; or (b) if the information being discussed at such meetings or portions thereof, or included in such materials, relates to
the strategy, negotiating positions or similar matters relating to the relationship of the Company or any of its Affiliates, on the one hand, with GSO Capital Partners LP or its Observer or any of their respective Affiliates, on the other hand, and
(iii) any information received by such Observer solely in its capacity as such may not be shared with any prospective purchasers of the Notes or any other holder unless otherwise publicly disclosed by the Company or with the prior written
consent of the Company or the Board. 
  

	 	8.	PREPAYMENT OF THE NOTES. 

  

	 	8.1.	Required Prepayments; Maturity. 

 No regularly scheduled prepayments are
due on the Notes prior to their stated maturity and the entire unpaid principal balance of the Notes shall be due and payable on the stated maturity thereof. 
  

	 	8.2.	Optional Prepayments; Acceleration of the Notes. 

 (a) The Company may,
at its option, upon notice as provided below, prepay at any time all, or from time to time any part of the Notes, at a prepayment price equal to: 

(i) prior to the second anniversary of the Closing Date, 100% of the principal amount so prepaid, plus the Make-Whole Amount
determined for the prepayment date with respect to such principal amount, plus accrued and unpaid interest thereon as of the date of prepayment and if such prepayment occurs on any date other than an Interest Payment Date, the Breakage Amount, if
any; provided, however, that the Company may, on one or more occasions, at any time during such period, redeem up to 50% of the aggregate principal amount of outstanding Notes as of the Closing Date, at a redemption price equal to 106% of the
principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to the date of redemption (subject to the rights of holders of Notes on the relevant record date to receive interest on the relevant interest payment date), in an
amount not to exceed the net proceeds from a registered public sale of (a) common stock or preferred stock of the Company by the Company (other than to a Subsidiary of the Company) or (b) the common stock or preferred stock of a direct or
indirect parent entity of the Company (other than to the Company or a Subsidiary of the Company) to the extent that the net proceeds thereof are contributed to the Company (collectively, an “Equity Offering”) by the Company, provided that:
(1) at least 50% of the aggregate principal amount of Notes as of the Closing Date (excluding Notes held by the Company and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and (2) the redemption
occurs within 45 days of the date of the closing of such Equity Offering; 
 (ii) during the period commencing on the second
anniversary of the Closing Date and ending on the day prior to the third anniversary thereof, 106% of the principal amount so prepaid, plus accrued and unpaid interest thereon as of the date of prepayment; 

  
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 (iii) during the period commencing on the third anniversary of the Closing Date
and ending on the day prior to the fourth anniversary thereof, 103% of the principal amount so prepaid, plus accrued and unpaid interest thereon as of the date of prepayment; 

(iv) during the period commencing on the fourth anniversary of the Closing Date and ending on the day prior to the fifth
anniversary thereof, 101% of the principal amount so prepaid, plus accrued and unpaid interest thereon as of the date of prepayment; and 

(v) from the fifth anniversary of the Closing Date, 100% of the principal amount so prepaid, plus accrued and unpaid interest
thereon as of the date of prepayment, 
 (b) The Company will give each holder of Notes to be prepaid (with a copy to the
Agent) written notice of each optional prepayment under this Section 8.2 not less than 20 days and not more than 60 days prior to the date fixed for such prepayment. Each such notice shall specify such date, the aggregate principal amount
of Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.5), and the interest to be paid on the prepayment date with respect to such principal amount being
prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount, if applicable, due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment),
setting forth the details of such computation. Two Business Days prior to such prepayment, if applicable, the Company shall deliver to each holder of Notes (with a copy to the Agent) being prepaid a certificate of a Senior Financial Officer
specifying the calculation of such Make-Whole Amount, if applicable, as of the specified prepayment date. 
 (c) In the event
of any acceleration of the Notes in accordance with Section 12.1, including any acceleration occurring automatically under Section 12.1(a) as a result of the occurrence of an Event of Default under Section 11(i) or 11(j), any repayment of the
Notes shall be made at the prepayment price applicable to optional prepayments in accordance with Section 8.2(a) as if such repayment were an optional prepayment made on the date of such acceleration. 

 

	 	8.3.	Mandatory Offer to Prepay Upon Change of Control. 

 (a) Notice of
Change of Control or Control Event - The Company will, within 10 Business Days after any Responsible Officer has knowledge of the occurrence of any Change of Control or Control Event, give notice of such Change of Control or Control Event to the
Agent (who shall deliver such notice to each holder of Notes). If a Change of Control has occurred, such notice shall contain and constitute an offer to prepay Notes as described in Section 8.3(b) and shall be accompanied by the certificate
described Section 8.3(f). 
 (b) Offer to Prepay Notes—The offer to prepay Notes contemplated by
Sections 8.3(a) shall be an offer to prepay, in accordance with and subject to this Section 8.3, all, but not less than all, of the Notes held by each holder (in this case only, “holder” in respect of any Note registered in the
name of a nominee for a disclosed beneficial owner shall mean such beneficial owner) on a date specified in such offer (the “Proposed Prepayment Date”). 

  
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 (c) Acceptance; Rejection—A holder of Notes may accept the offer to
prepay made pursuant to this Section 8.3 by causing a notice of such acceptance to be delivered to the Company and the Agent on or before the date specified in an officer’s certificate pursuant to Section 8.3(f). Any such offer shall
provide each holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least 10 Business Days. A failure by a holder of Notes to respond to an offer to prepay made pursuant
to this Section 8.3, or to accept an offer as to all of the Notes held by the holder, within such time period shall be deemed to constitute rejection of such offer by such holder. 

(d) Prepayment—Prepayment of the Notes to be prepaid pursuant to this Section 8.3 shall be at a prepayment
price equal to: 
 (i) if the Change of Control or Control Event occurs prior to the second anniversary of the Closing Date, 100% of the
principal amount so prepaid, plus the Make-Whole Amount determined for the prepayment date with respect to such principal amount, plus accrued and unpaid interest thereon as of the date of prepayment and if such prepayment occurs on any date other
than an Interest Payment Date, the Breakage Amount, if any; and 
 (ii) if the Change of Control or Control Event occurs on or after the
second anniversary of the Closing Date: 
 (1) during the period commencing on the second anniversary of the Closing Date
and ending on the day prior to the third anniversary thereof, 106% of the principal amount so prepaid, plus accrued and unpaid interest thereon as at the date of prepayment; 

(2) during the period commencing on the third anniversary of the Closing Date and ending on the day prior to the fourth
anniversary thereof, 103% of the principal amount so prepaid, plus accrued and unpaid interest thereon as at the date of prepayment; 

(3) during the period commencing on the fourth anniversary of the Closing Date and ending on the day prior to the fifth
anniversary thereof, 101% of the principal amount so prepaid, plus accrued and unpaid interest thereon as at the date of prepayment; and 

(4) from the fifth anniversary of the Closing Date, 100% of the principal amount so prepaid, plus accrued and unpaid interest
thereon as at the date of prepayment. 
 The prepayment shall be made on the Proposed Prepayment Date except as provided in
Section 8.3(f). 
 (e) Deferral Pending Change of Control – The Company shall be permitted to make the offer
to purchase in advance and conditioned upon the Change of Control. The obligation of the Company to prepay Notes pursuant to the offers required by Section 8.3(a) and accepted in accordance with Section 8.3(c) is subject to the occurrence of
the Change of Control in respect of which such offers and acceptances shall have been made. In the event that such 

  
 - 19 - 

 
Change of Control does not occur on or prior to the Proposed Prepayment Date in respect thereof, the prepayment shall be deferred until and shall be made on the date on which such Change of
Control occurs. The Company shall keep each holder of Notes and the Agent reasonably and timely informed of (i) any such deferral of the date of prepayment, (ii) the date on which such Change of Control and the prepayment are expected to
occur, and (iii) any determination by the Company that efforts to effect such Change of Control have ceased or been abandoned (in which case the offers and acceptances made pursuant to this Section 8.3 in respect of such Change of Control
shall be deemed rescinded). Notwithstanding the foregoing, in the event that the prepayment has not been made within 90 days after such Proposed Prepayment Date by virtue of the deferral provided for in this Section 8.3(f), the Company shall
make a new offer to prepay in accordance with Section 8.3(b). 
 (f) Officer’s
Certificate—Each offer to prepay the Notes pursuant to this Section 8.3 shall be accompanied by a certificate, executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying: (i) the Proposed
Prepayment Date, (ii) that such offer is made pursuant to this Section 8.3, (iii) the principal amount of each Note offered to be prepaid, (iv) the interest that would be due on each Note offered to be prepaid, accrued to the
Proposed Prepayment Date, (v) that the conditions of this Section 8.3 have been fulfilled, (vi) in reasonable detail, the nature and date or proposed date of the Change of Control, (vii)(x) in the event the Change of Control occurred
during the period specified in Section 8.3(d)(i), a calculation of the estimated prepayment price (calculated as if the date of such notice were the date of prepayment) setting forth the details such computation and (y) in the event the
Change of Control occurred during the periods specified in Section 8.3(d)(ii), the amount of the prepayment premium and (viii) the date by which any holder of a Note that wishes to accept such offer must deliver notice thereof to the
Company and the Agent, which date shall not be earlier than three Business Days prior to the Proposed Prepayment Date. 
  

	 	8.4.	Mandatory Offer to Prepay Upon Disposition of Certain Assets. 

 (a)
Offer to Prepay Notes. Any Net Proceeds from any Asset Sale that are not invested or applied as provided and within the time period set forth in the provisions of Section 10.7 (it being understood that any portion of such Net Proceeds
used to make an offer to purchase Notes, as described in Section 10.7(b)(i), will be deemed to have been invested whether or not such offer is accepted) will be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess
Proceeds exceeds $40.0 million, the Company shall make an offer to all holders and, at the option of the Company, to any holders of any Indebtedness that is pari passu with the Notes (“Pari Passu Indebtedness”) (an
“Asset Sale Offer”), to purchase the maximum aggregate principal amount of the Notes and such Pari Passu Indebtedness that is at least $2,000 and an integral multiple of $1,000 in excess thereof that may be purchased out of the
Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof, or 100% of the accreted value thereof, if less, plus accrued and unpaid interest, if any, (or, in respect of such Pari Passu Indebtedness,
such lesser price, if any, as may be provided for by the terms of such Pari Passu Indebtedness) to, but not including, the date fixed for the closing of such offer, in accordance with the procedures set forth in this Agreement. The Company
will commence an Asset Sale Offer with respect to Excess Proceeds within thirty Business Days after the date that Excess Proceeds exceed $40.0 million by sending a notice which shall contain all instructions and materials necessary to enable
such Holder to tender Notes pursuant to the Asset Sale Offer. The 

  
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Company may satisfy the foregoing obligation with respect to such Net Proceeds by making an Asset Sale Offer prior to the expiration of the 365-day period
provided in Section 10.7 (an “Advance Offer”) with respect to all or a portion of the available Net Proceeds (the “Advance Portion”) in advance of being required to do so by this Agreement or with respect to Excess Proceeds
of $40.0 million or less.. 
 (b) Acceptance; Rejection. A holder of Notes may accept any offer to prepay made
pursuant to this Section 8.4 by causing a notice of such acceptance to be delivered to the Company and the Agent on or before the date specified by the Company. Any such offer shall provide each holder with sufficient information to enable it
to make an informed decision with respect to such offer, and shall remain open for at least 10 Business Days. A failure by a holder of Notes to (1) respond to an offer to prepay made pursuant to this Section 8.4 or (2) accept such
offer, in each case, within such time period shall be deemed to constitute rejection of such offer in its totality by such holder of Notes. Any holder of Notes that accepts such offer shall be deemed to have agreed to the prepayment of Notes in
accordance with the following Section 8.4(c). 
 (c) Prepayment. Prepayment of the principal amount of Notes to be
prepaid pursuant to this Section 8.4 shall be at a prepayment price equal to 100% of the principal amount so prepaid, plus accrued and unpaid interest thereon as of the date of prepayment. Such prepayment shall be made on the date specified in
the offer described in Section 8.4(a). The amount of any such prepayment shall be allocated ratably among those holders opting to be prepaid in accordance with the percentage that the Notes held by such holders constitute of the Notes then
outstanding. 
  

	 	8.5.	Allocation of Partial Prepayments. 

 In the case of each partial
prepayment of Notes pursuant to Section 8.2, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts
thereof not theretofore called for prepayment. 
  

	 	8.6.	Maturity; Surrender, etc. 

 In the case of each prepayment of Notes
pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment, together with interest on such principal amount accrued to such date and the applicable
Make-Whole Amount, if any, and if such payment occurs on any date other than an Interest Payment Date, the Breakage Amount, if any, or other premium, if any. From and after such date, unless the Company shall fail to pay such principal amount when
so due and payable, together with the interest, Make-Whole Amount, if any, and other premium, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full, after such payment and upon the written
request of the Company, shall be surrendered to the Company and canceled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note. 

After the redemption date, upon surrender of the Notes to be redeemed in part only, a new note or notes in principal amount
equal to the unredeemed portion of the original Notes representing the same Indebtedness to the extent not redeemed shall be issued in the name of the holder of the notes upon cancellation of the original Notes. 

  
 - 21 - 

	 	8.7.	Purchase of Notes. 

 The Company will not and will not permit any
Affiliate to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except (a) upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes or
(b) pursuant to an offer to purchase made by the Company or an Affiliate pro rata to the holders of any series of Notes at the time outstanding upon the same terms and conditions (it being agreed that the Company may purchase Notes from
accepting holders pursuant to such offer on a non pro-rata basis to the extent the offer is not accepted by all holders). Any such offer shall provide each holder with sufficient information to enable it to
make an informed decision with respect to such offer, and shall remain open for at least 10 Business Days. The Company shall provide the Agent notice of any such offer on or before the date such offer is made by the Company or an Affiliate. If the
holders of more than 50% of the principal amount of the Notes then outstanding accept such offer, the Company shall promptly notify the remaining holders of such fact and the expiration date for the acceptance by holders of Notes of such offer shall
be extended by the number of days necessary to give each such remaining holder at least 5 Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all Notes acquired by the Company or any Affiliate
pursuant to any payment, prepayment or purchase of Notes pursuant to any provision of this Agreement (and notify Agent of the same) and no Notes may be issued in substitution or exchange for any such Notes. 

 

	 	8.8.	Make-Whole Amount. 

 The term “Make-Whole Amount” means, with
respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments through the second anniversary of the Closing Date with respect to the Called Principal of such Note over the amount of such
Called Principal and accrued interest in respect of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following meanings:

 “Called Principal” means, with respect to any Note, the principal of such Note that is to be prepaid pursuant to
Section 8.2 or 8.3, if applicable, or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

“Discounted Value” means, with respect to the Called Principal of any Note, the amount obtained by discounting all
Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor
(applied on the same periodic basis as that on which interest on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal. 

“Reinvestment Yield” means, with respect to the Called Principal of any Note, 0.50% over the yield to maturity
implied by the yield(s) reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called 

  
 - 22 - 

 
Principal, on the display designated as “Page PX1” (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there
are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will be determined by (a) converting U.S. Treasury bill quotations to bond equivalent yields in accordance
with accepted financial practice and (b) interpolating linearly between the yields Reported for the applicable most recently issued actively traded on-the-run U.S.
Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as
appears in the interest rate of the applicable Note. 
 If such yields are not Reported or the yields Reported as of such
time are not ascertainable (including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Note, 0.50% over the yield to maturity implied by the U.S. Treasury constant maturity yields
reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor
publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal to such Remaining
Average Life, such implied yield to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the U.S.
Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note. 

“Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing
(i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years, computed on the
basis of a 360-day year composed of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called
Principal and the scheduled due date of such Remaining Scheduled Payment. 
 “Remaining Scheduled Payments” means,
with respect to the Called Principal of any Note, all payments of such Called Principal and interest thereon and premium that would be due after the Settlement Date and on or before the second anniversary of the Closing Date with respect to such
Called Principal if the Called Principal were prepaid on such second anniversary in accordance with Section 8.2, it being understood that the amounts of succeeding interest payments cannot be ascertained with certainty at such time, provided
that if such Settlement Date is not a date on which interest payments are due to be made under the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and
required to be paid on such Settlement Date pursuant to Section 8.6 or Section 12.1. Each determination of the Make-Whole Amount by the Company shall separately show a calculation of the succeeding interest payments used in determining the
Remaining Scheduled Payments. If within two Business Days after receiving notice of such 

  
 - 23 - 

 
determination of the Make-Whole Amount by the Company, the Administrative Holders dispute the Company’s estimate of such succeeding interest payments, and so notifies the Company, the
Company will request the principal London office of each of the Reference Banks to provide estimates of the amounts of such succeeding interest payments. If at least two such estimates are provided, each succeeding interest payment used in
determining the Remaining Scheduled Payments shall be deemed to be the arithmetic mean of the interest payments as so determined by such Reference Banks. 

“Settlement Date” means, with respect to the Called Principal of any Note, the date on which such Called Principal is
to be prepaid pursuant to Section 8.2 or 8.3, if applicable, or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

 

	 	9.	AFFIRMATIVE COVENANTS. 

 The Company covenants that from the Closing Date
and for so long as any of the Notes are outstanding: 
  

	 	9.1.	Compliance with Law. 

 The Company will, and will cause its Restricted
Subsidiaries to, comply with the requirements of (i) OFAC and the FCPA and (ii) all applicable laws, rules, regulations and orders of any Governmental Authority (including ERISA, all Environmental Laws and the USA PATRIOT Act), except, in
the case of clause (ii), to the extent the failure to so comply would not reasonably be expected to have a Material Adverse Effect. 
  

	 	9.2.	Insurance. 

 The Company will, and will cause each Restricted Subsidiary
to, maintain, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is customary in the case of entities of established reputations engaged in the same or a similar business and similarly
situated. 
  

	 	9.3.	Maintenance of Properties. 

 The Company will, and will cause its
Restricted Subsidiaries to, maintain or cause to be maintained in good repair, working order and condition, ordinary wear and tear and casualty and condemnation excepted, all property reasonably necessary to the normal conduct of business of the
Company and its Restricted Subsidiaries and from time to time will make or cause to be made all needed and appropriate repairs, renewals and replacements thereof except as expressly permitted by this Agreement or where the failure to maintain such
properties or make such repairs, renewals or replacements would not reasonably be expected to have a Material Adverse Effect. 

  
 - 24 - 

	 	9.4.	Payment of Taxes and Claims. 

 The Company will, and will cause each
Restricted Subsidiary to, (A) timely file all U.S. federal income tax returns, (B) timely file all other tax returns required to be filed in any jurisdiction, except any returns the non-filing of
which would not reasonably be expected to have a Material Adverse Effect, and (C) pay and discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies imposed on them or any
of their properties, assets, income or franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent and all claims for which sums have become due and payable that have or might become a Lien
on properties or assets of the Company or any Restricted Subsidiary, provided that neither the Company nor any Subsidiary need pay any such tax or assessment or claims if (i) the amount, applicability or validity thereof is contested by the
Company or such Restricted Subsidiary on a timely basis in good faith and in appropriate proceedings, and the Company or a Restricted Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of the Company or such
Restricted Subsidiary or (ii) the nonpayment of all such taxes and assessments in the aggregate would not reasonably be expected to have a Material Adverse Effect. 
  

	 	9.5.	Existence, etc. 

 Subject to Section 10.4, the Company will at all
times preserve and keep in full force and effect its existence. Subject to Sections 10.4 and 10.7, the Company will at all times preserve and keep in full force and effect the corporate, partnership or limited liability company existence of
each of its Restricted Subsidiaries (unless merged into the Company or a Restricted Subsidiary) and all rights and franchises of the Company and its Restricted Subsidiaries unless, in the good faith judgment of the Company, the termination of or
failure to preserve and keep in full force and effect such corporate, partnership or limited liability company existence, right or franchise would not, individually or in the aggregate, have a Material Adverse Effect. 

 

	 	9.6.	Additional Subsidiary Guarantors. 

 The Company will not permit
(i) any of its Restricted Subsidiaries that guarantees any Indebtedness under the Revolving Facility (other than any Foreign Subsidiary guaranteeing Foreign Subsidiary obligations thereunder), the Term Loan Credit Agreement, the Unsecured Notes
or (ii) any of its Restricted Subsidiaries to guarantee any Indebtedness under any other syndicated bank or capital markets Indebtedness of the Company in an aggregate principal amount in excess of $50 million, unless such Restricted
Subsidiary within 30 days enters into the Subsidiary Guarantee within 30 days and as a part thereof to deliver to each of the holders a copy of an executed joinder to the Guarantee. 

 

	 	9.7.	Ranking of Notes. 

 The Notes and the Company’s obligations under
this Agreement will rank at least pari passu in right of payment with all of the Company’s unsecured Senior Indebtedness outstanding as of the Closing Date; provided, that, during any period that the Senior Credit Facilities and
the Secured Notes or any other Indebtedness with a principal amount in excess of $1.825 billion outstanding as of the Closing Date is secured, the Notes and the Company’s obligations under 

  
 - 25 - 

 
this Agreement will rank at least pari passu in right of payment with all of the Company’s obligations under the Senior Credit Facilities and the Secured Notes or such other
applicable documents governing such other Indebtedness. 
  

	 	9.8.	Books and Records. 

 The Company will, and will cause its Restricted
Subsidiaries to, maintain proper books of record and account containing entries of all material financial transactions and matters involving the assets and business of the Company and its Restricted Subsidiaries that are full, true and correct in
all material respects and permit the preparation of consolidated financial statements in accordance with GAAP. 
  

	 	9.9.	Use of Proceeds. 

 On the Closing Date, the Company will apply a portion
of the proceeds of the sale of the Notes to (i) repay the outstanding principal amount of any loans (and accrued and unpaid interest, if any) under the Existing PQ Credit Agreement and the Existing Eco Credit Agreement, (ii) satisfy and
discharge the Company’s obligations under Second Lien Indenture, (iii) pay fees and expenses associated with the transactions contemplated hereunder and (iv) finance a portion of the Reorganization. 

 

	 	9.10.	Environmental Reporting Requirements. 

 Promptly upon, and in any event
within 10 Business Days after, the Company or any Restricted Subsidiary obtains knowledge thereof, the Company will provide the Agent notice of one or more of the following environmental matters to the extent any of the following would reasonably be
expected to have a Material Adverse Effect: (i) any pending or threatened in writing Environmental Claim against the Company or any Restricted Subsidiary or any of their owned, leased, or operated real property; (ii) any condition or
occurrence on or arising from any real property owned, leased, or operated by the Company or any Restricted Subsidiary that (A) results in noncompliance by the Company or any Restricted Subsidiary with any applicable Environmental Law or
(B) would reasonably be expected to form the basis of an Environmental Claim against the Company, any Restricted Subsidiary, or their owned, leased, or operated real property; (iii) any condition or occurrence on any of the Company’s,
or any Restricted Subsidiary’s, owned, leased, or operated real property that would reasonably be expected to cause such real property to be subject to any restrictions on the ownership, occupancy, use or transferability by the Company or any
Restricted Subsidiary under any Environmental Law; and (iv) the taking of any removal or remedial action in response to the actual or alleged presence of any Hazardous Material on any real property owned, leased or operated by the Company or
any Restricted Subsidiary as required by any Environmental Law or any Governmental Authority. All such notices shall describe in reasonable detail the nature of the Environmental Claim, the Company’s or any Restricted Subsidiary’s response
thereto, and their potential exposure in Dollars with respect thereto. 
  

	 	10.	NEGATIVE COVENANTS. 

 The Company covenants that from the Closing Date
and for so long as any of the Notes are outstanding: 

  
 - 26 - 

	 	10.1.	Limitation on Restricted Payments. 

 (a) The Company shall not, and shall
not permit any of its Restricted Subsidiaries to, directly or indirectly: 
 (i) declare or pay any dividend or make any other payment or
any distribution on account of the Company’s, or any of its Restricted Subsidiaries’ Equity Interests (in each case, solely in such Person’s capacity as holder of such Equity Interests), including any dividend or distribution payable
in connection with any merger or consolidation other than: 
 (1) dividends or distributions by the Company payable solely
in Equity Interests (other than Disqualified Stock) of the Company or any direct or indirect parent of the Company; or 

(2) dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend or distribution payable on
or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly-Owned Subsidiary, the Company or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in
accordance with its Equity Interests in such class or series of securities; 
 (ii) purchase, redeem, defease or otherwise acquire or retire
for value any Equity Interests of the Company or any direct or indirect parent of the Company, including in connection with any merger or consolidation, in each case held by Persons other than the Company or a Restricted Subsidiary; 

(iii) make any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each case prior to any
scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness of the Company or a Guarantor, other than: 

(1) Indebtedness permitted under Sections 10.2(b)(vii) and (b)(viii); or 

(2) the payment, redemption, repurchase, defeasance, acquisition or retirement for value of Subordinated Indebtedness
purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance, acquisition or retirement; or 

(iv) make any Restricted Investment 

(all such payments and other actions set forth in clauses (i) through (iv) above being collectively referred to as “Restricted
Payments”), unless, at the time of such Restricted Payment: 
 (1) no Default or Event of Default shall have occurred
and be continuing or would occur as a consequence thereof; 
 (2) immediately after giving effect to such transaction on a
pro forma basis, the Company would incur $1.00 of additional Indebtedness under the provisions of Section 10.2(a); and 

  
 - 27 - 

 (3) such Restricted Payment, together with the aggregate amount of all other
Restricted Payments made by the Company and its Restricted Subsidiaries after the Closing Date (excluding Restricted Payments made by Section 10.1(b) other than Sections 10.1(b)(i) and (b)(ix) thereof), is less than the sum of (without duplication):

  

	 	(A)	50% of the Consolidated Net Income of the Company for the period (taken as one accounting period) beginning on the first day of the fiscal quarter of the Company during which the Closing Date occurs to the end of the
Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment, or, in the case such Consolidated Net Income for such period is a deficit, minus 100% of such deficit;
plus 

  

	 	(B)	 100% of the aggregate net cash proceeds and the fair market value, as determined in good faith by the Company, of
marketable securities or other property received by the Company since the Closing Date (other than net cash proceeds to the extent such net cash proceeds have been used to incur Indebtedness, Disqualified Stock or Preferred Stock pursuant to Section
10.2(b)(xii)(a)) from the issue or sale of: (i) (A) Equity Interests of the Company, including Treasury Capital Stock (as defined below), but excluding cash proceeds and the fair market value, as determined in good faith by the Company, of
marketable securities or other property received from the sale of: (x) Equity Interests to any future, present or former employee, officer, director, member of management or consultant (or the estate, heirs, family members, spouse, former
spouse, domestic partner or former domestic partner of any of the foregoing) of the Company, any direct or indirect parent company of the Company and the Company’s Subsidiaries since the Closing Date to the extent such amounts have been applied
to Restricted Payments made in accordance with Section 10.1(b)(iv); and (y) Designated Preferred Stock; and (B) to the extent such net cash proceeds or other property are actually contributed to the Company, Equity Interests of the
Company’s direct or indirect parent companies (excluding contributions of the proceeds from the sale of Designated Preferred Stock of such companies or contributions to the extent such amounts have been applied to Restricted Payments made in
accordance with Section 10.1(b)(iv)); or (ii) debt of the Company or any Restricted Subsidiary that has been converted into or 

  
 - 28 - 

	 	
exchanged for Equity Interests of the Company or its direct or indirect parent companies; provided, however, that this clause (ii) shall not include the proceeds from
(W) Refunding Capital Stock (as defined below), (X) Equity Interests or convertible debt securities of the Company sold to a Restricted Subsidiary, (Y) Disqualified Stock or debt securities that have been converted into Disqualified Stock
or (Z) Excluded Contributions; plus 

  

	 	(C)	100% of the aggregate amount of cash and the fair market value, as determined in good faith by the Company, of marketable securities or other property contributed to the capital of the Company following the Closing Date
other than (X) net cash proceeds to the extent such net cash proceeds have been used to incur Indebtedness or issue Disqualified Stock or Preferred Stock pursuant to Section 10.2(b)(xii)(a), (Y) by a Restricted Subsidiary and (Z) from any
Excluded Contributions; plus 

  

	 	(D)	100% of the aggregate amount received in cash and the fair market value, as determined in good faith by the Company, of marketable securities or other property received by the Company or a Restricted Subsidiary by means
of: (I) the sale or other disposition (other than to the Company or a Restricted Subsidiary) of Restricted Investments made by the Company or its Restricted Subsidiaries, repurchases and redemptions of such Restricted Investments from the
Company or its Restricted Subsidiaries, repayments of loans or advances, releases of guarantees, which constitute Restricted Investments by the Company or its Restricted Subsidiaries, return of capital, income, profits and other amounts realized as
a return or Investment from any Restricted Investment by the Company or its Restricted Subsidiaries, in each case since the Closing Date; or (II) the sale or other distribution (other than to the Company or a Restricted Subsidiary) of the
Equity Interests of an Unrestricted Subsidiary or a distribution from an Unrestricted Subsidiary (other than in each case to the extent the Investment in such Unrestricted Subsidiary was made by the Company or a Restricted Subsidiary pursuant to
Section 10.1(b)(vii) or to the extent such Investment constituted a Permitted Investment) or a dividend or distribution from an Unrestricted Subsidiary since the Closing Date; plus 

  
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	 	(E)	in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary or the merger, amalgamation or consolidation of an Unrestricted Subsidiary into the Company or a Restricted Subsidiary or the
transfer of all or substantially all of the assets of an Unrestricted Subsidiary to the Company or a Restricted Subsidiary after the Closing Date, the fair market value of the Investment of the Company or the Restricted Subsidiary in such
Unrestricted Subsidiary (or the assets transferred), as determined by the Company in good faith or, if such fair market value may exceed $30.0 million, by the Board of Directors (or similar governing body) of the Company, a copy of the
resolution of which with respect thereto will be delivered to the Agent at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary or at the time of such merger, amalgamation, consolidation or transfer of assets
other than to the extent such Investment constituted a Permitted Investment; plus 

  

	 	(F)	in the event the Company or any Restricted Subsidiary of the Company makes any Investment in a Person that, as a result of or in connection with such Investment, becomes a Restricted Subsidiary of the Company, an amount
equal to the fair market value of the existing Investment in such Person, to the extent such existing Investment constituted a Restricted Investment or was made pursuant to this Section 10.1(a) or Section 10.1(b) (other than Section 10.1(b)(xi)
after the Issue Date; plus 

  

	 	(G)	$100.0 million, provided that this clause (G) shall not be available for any Restricted Payment within the meaning of Section 10.1(a)(i) or Section 10.1(a)(ii). 

(b) The foregoing provisions will not prohibit: 

(i) the payment of any dividend or distribution or the consummation of any irrevocable redemption within 60 days after the date of declaration
of the dividend or other distribution or giving of the redemption notice, as the case may be, if at the date of declaration or distribution such dividend, distribution or redemption payment would have complied with the provisions of this Agreement
(assuming, in the case of a redemption payment, the giving of the notice would have been deemed a Restricted Payment at such time and such deemed Restricted Payment would have been permitted at such time); 

(ii) (a) the redemption, repurchase, retirement or other acquisition of any Equity Interests (“Treasury Capital Stock”) or
Subordinated Indebtedness of the Company, any direct or indirect parent of the Company or any Restricted Subsidiary in exchange for, or out of the proceeds of, the substantially concurrent sale or issuance (other than to a Restricted Subsidiary) of,
Equity Interests of the Company or any direct or indirect parent company of the Company to the extent any such proceeds are contributed to the Company (in each case, other than any Disqualified Stock)

  
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(“Refunding Capital Stock”) (with 60 days being deemed substantially concurrent), (b) the declaration and payment of dividends on Treasury Capital Stock out of the proceeds of the
substantially concurrent sale or issuance (other than to a Restricted Subsidiary) of any Refunding Capital Stock (with 60 days being deemed substantially concurrent) and (c) if immediately prior to the retirement of Treasury Capital Stock, the
declaration and payment of dividends thereon was permitted under Section 10.1(b)(vi), the declaration and payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase,
retire or otherwise acquire any Equity Interests of any direct or indirect parent company of the Company) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that were declarable and payable on such Treasury
Capital Stock immediately prior to such retirement; 
 (iii) the principal payment on, redemption, repurchase, defeasance, exchange or other
acquisition or retirement of (x) Subordinated Indebtedness of the Company or a Guarantor made by exchange for, or out of the proceeds of, the substantially concurrent sale (with 60 days being deemed substantially concurrent) of, new
Indebtedness of the Company or a Guarantor, as the case may be, or (y) Disqualified Stock of the Company or a Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale (with 60 days being deemed substantially
concurrent) of, Disqualified Stock of the Company or a Guarantor, that, in each case, is incurred in compliance with Section 10.2 so long as: 

(1) the principal amount (or accreted value, if applicable) of such new Indebtedness or the liquidation preference of such new
Disqualified Stock does not exceed the principal amount of (or accreted value, if applicable), plus any accrued and unpaid interest on, the Subordinated Indebtedness or the liquidation preference of, plus any accrued and unpaid
dividends on, the Disqualified Stock being so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired for value, plus the amount of any premium required to be paid under the terms of the instrument governing the Subordinated
Indebtedness or Disqualified Stock being so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired, any tender premiums, plus any defeasance costs, accrued interest and any fees and expenses (including original issue discount,
upfront or similar fees) incurred in connection therewith; 
 (2) such new Indebtedness is subordinated to the Notes or the
applicable Guarantee at least to the same extent as such Subordinated Indebtedness so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired for value; 

(3) such new Indebtedness or Disqualified Stock has a final scheduled maturity date equal to or later than the final scheduled
maturity date of the Subordinated Indebtedness or Disqualified Stock being so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired; and 

(4) such new Indebtedness or Disqualified Stock has a Weighted Average Life to Maturity at the time incurred equal to or
greater than the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness or Disqualified Stock being so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired; 

  
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 (iv) a Restricted Payment to pay for the repurchase, redemption, retirement or other acquisition
or retirement for value of Equity Interests (other than Disqualified Stock) of the Company or any of its direct or indirect parent companies held by any future, present or former employee, officer, director, member of management, manager or
consultant (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the Company, any of its Subsidiaries or any of its direct or indirect parent companies, pursuant to any
management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement including any Equity Interests rolled over by current or former management of the Company, any of its Subsidiaries or any
of its direct or indirect parent companies in connection with the Transactions (and including, for the avoidance of doubt, any principal and interest payable on any notes issued by the Company or any direct or indirect parent company in connection
with any such repurchase, retirement or other acquisition and any tax related thereto); provided, however, that the aggregate Restricted Payments made under this clause (iv) do not exceed $15.0 million in any calendar year (which
shall increase to $20.0 million subsequent to the consummation of an underwritten public Equity Offering by the Company or any direct or indirect parent company of the Company) with unused amounts in any calendar year being carried over to
succeeding calendar years subject to a maximum (without giving effect to the following proviso) of $30.0 million in any calendar year; provided further that such amount in any calendar year may be increased by an amount not to exceed:

 (1) the cash proceeds from the sale of Equity Interests (other than Disqualified Stock) of the Company and, to the extent
contributed to the Company, Equity Interests of any of the Company’s direct or indirect parent companies, in each case to any future, present or former employee, officer, director, member of management, manager or consultant (or the estate,
heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the Company, any of its Subsidiaries or any of its direct or indirect parent companies after the Closing Date, to the extent the
cash proceeds from the sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of Section 10.1(a)(iii); plus, in respect of any sale of Equity Interests in connection with an exercise of stock
options, an amount equal to the amount required to be withheld by the Company or any of its direct or indirect parent companies in connection with such exercise under applicable law to the extent such amount is repaid to the Company or its direct or
indirect parent company, as applicable, constituted a Restricted Payment and has not otherwise been applied to the payment of Restricted Payments by virtue of Section 10.1(a)(iii); plus 

(2) the cash proceeds of key man life insurance policies received by the Company or its Restricted Subsidiaries or any of its
direct or indirect parent companies after the Closing Date; plus 
 (3) the amount of any cash bonuses otherwise
payable to employees, officers, directors, members of management, managers or consultants of the Company, any of its Subsidiaries or any of its direct or indirect companies that are foregone in return for receipt of Equity Interests; less

 (4) the amount of any Restricted Payments previously made with the cash proceeds described in clauses (1), (2) and
(3) of this clause (iv); 

  
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 and provided further that cancellation of Indebtedness owing to the Company or any of its
Restricted Subsidiaries from any future, present or former employee, officer, director, member of management, manager or consultant (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of
the foregoing) of the Company, any of the Company’s direct or indirect parent companies or any of the Company’s Restricted Subsidiaries in connection with a repurchase of Equity Interests of the Company or any of its direct or indirect
parent companies will not be deemed to constitute a Restricted Payment for purposes of this Section 10.1 or any other provision of this Agreement; 

(v) the declaration and payment of dividends or distributions to holders of any class or series of Disqualified Stock of the Company or any of
its Restricted Subsidiaries or any class or series of Preferred Stock of any Restricted Subsidiary issued or incurred in accordance with Section 10.2 to the extent such dividends are included in the definition of “Fixed Charges”; 

(vi) (1) the declaration and payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified
Stock) issued by the Company or any of its Restricted Subsidiaries after the Closing Date; 
 (2) the declaration and
payment of dividends or distributions to a direct or indirect parent company of the Company, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified
Stock) of such parent company issued after the Closing Date, provided that the amount of dividends paid pursuant to this clause (2) shall not exceed the aggregate amount of cash actually contributed to the Company from the sale of such
Designated Preferred Stock; or 
 (3) the declaration and payment of dividends on Refunding Capital Stock that is Preferred
Stock in excess of the dividends declarable and payable thereon pursuant to Section 10.1(b)(ii); 
 provided, however, in the case of
each of (1), (2) and (3) of this clause (vi), that for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock or the
declaration of such dividends on Refunding Capital Stock that is Preferred Stock, after giving effect to such issuance or declaration on a pro forma basis, the Company and its Restricted Subsidiaries on a consolidated basis would have had a Fixed
Charge Coverage Ratio of at least 2.00 to 1.00; 
 (vii) Investments in Unrestricted Subsidiaries having an aggregate fair market value,
taken together with all other Investments made pursuant to this clause (vii) that are at the time outstanding, without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of, or have
not been subsequently sold or transferred for, cash or marketable securities, not to exceed the sum of (a) the greater of (x) $50.0 million (with the fair market value of each Investment being measured at the time made and without giving
effect to subsequent changes in value) and (y) 1.25% of Consolidated Total Assets and (b) any returns (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) actually
received in respect of any such Investment; provided, however, that if any Investment pursuant to this clause (vii) is made in any Person that is not the Company or a Restricted Subsidiary at the date of the making of such Investment and
such Person becomes the Company or a Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (a) of the definition of Permitted Investments and shall cease to have been made
pursuant to this clause (vii) for so long as such Person continues to be the Company or a Restricted Subsidiary; 

  
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 (viii) redemptions, repurchases, retirements or other acquisitions of Equity Interests deemed to
occur (a) upon exercise of stock options or warrants or other securities convertible into or exchangeable for Equity Interests if such Equity Interests represent all or a portion of the exercise price of such options or warrants or other
securities convertible into or exchangeable for Equity Interests and (b) in connection with the withholding portion of the Equity Interests granted or awarded to any future, present or former employee, officer, director, member of management,
manager or consultant (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the Company or any of its Subsidiaries to pay for the taxes payable by such Persons upon such
grant or award; 
 (ix) the declaration and payment of dividends on the Company’s common stock (or the payment of dividends to any
direct or indirect parent entity to fund a payment of dividends on such entity’s common stock), following the first public offering of the Company’s common stock or the common stock of any of its direct or indirect parent companies after
the Closing Date, in an amount not to exceed 6% per annum of the net cash proceeds received by or contributed to the Company in or from any public offering, other than public offerings with respect to the Company’s common stock registered on
Form S-8 and other than any public sale constituting an Excluded Contribution; 
 (x) Restricted
Payments in an amount that does not exceed the aggregate amount of Excluded Contributions made since the Closing Date; 
 (xi) (1)
other Restricted Payments not involving any Restricted Payments within the meaning of Section 10.1(a)(i) or Section 10.1(a)(ii) in an aggregate amount taken together with all other Restricted Payments made pursuant to this Clause (xi)(1) and any
Investments made pursuant to clause (m) of the definition of Permitted Investments, that are at the time outstanding, not to exceed the greater of (x) $160 million and (y) 4.0% of Consolidated Total Assets plus (2) other Restricted
Payments in an aggregate amount taken together with all other Restricted Payments made pursuant to this clause (xi) (2) that are at the time outstanding not to exceed the greater of (x) $50.0 million and (y) 1.25% of Consolidated Total
Assets; 
 (xii) distributions or payments of Receivables Fees; 

(xiii) any Restricted Payment used to fund the Transactions (including, after the Closing Date, to satisfy any payment obligations owing under
the Transaction Agreement) and the fees and expenses related thereto or owed to Affiliates (including dividends to any direct or indirect parent company to permit payment by such parent of such amount), in each case with respect to any Restricted
Payment to or owed to an Affiliate, to the extent permitted by Section 10.5; 
 (xiv) the repurchase, redemption or other acquisition
or retirement for value of any Subordinated Indebtedness pursuant to provisions similar to those in Sections 8.3 and 8.4; provided that all Notes validly tendered and not validly withdrawn by holders in connection with an Asset Sale Offer, as
applicable, have been repurchased, redeemed or acquired for value; 

  
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 (xv) the declaration and payment of dividends or distributions by the Company or a Restricted
Subsidiary to, or the making of loans or advances to, any of their respective direct or indirect parent companies in amounts required for any direct or indirect parent companies to pay, in each case without duplication, 

(1) (a) franchise, excise and similar taxes and fees and expenses necessary to maintain the Company’s and each
Subsidiary’s corporate existence and (b) an amount equal to the Permitted Tax Distribution, not more than ten (10) Business Days prior to the date the underlying Tax is required to be paid to the relevant tax authority;
provided that Holdings and any other direct or indirect group parent of the Company shall contribute to the capital of the Company, without duplication, Excess Tax Distributions and Tax Refunds attributable to prior Permitted Tax
Distributions made by the Company pursuant to this clause, not later fifteen (15) Business Days following the date on which such amounts are paid, credited or otherwise made available to the group of which the Company is a member; 

(2) customary wages, salary, bonus, severance and other benefits payable to, and indemnitees provided on behalf of, current or
former officers, directors, employees, members of management, consultants and/or independent contractors of any direct or indirect parent company of the Company and any payroll, social security or similar taxes thereof to the extent such wages,
salaries, bonuses, severance, indemnification, obligations and other benefits are attributable to the ownership or operation of the Company and its Restricted Subsidiaries; 

(3) interest and/or principal (other than to the extent constituting Restricted Payments within the meaning of clause
(iii) of the definition of “Restricted Payments”) on Indebtedness the proceeds of which have been contributed to the Company or any Restricted Subsidiary and that has been guaranteed by, or is otherwise considered Indebtedness of, the
Company (a) incurred in accordance with Section 10.2 and (b) for purposes of the definition of Consolidated Total Indebtedness; provided, that any dividends or distributions declared and paid by the Company or any Restricted
Subsidiary in accordance with this clause with respect to interest on Indebtedness shall be included in Fixed Charges of the Company and its Restricted Subsidiaries; 

(4) general corporate operating, legal and overhead costs and expenses of any direct or indirect parent company of the Company
to the extent such costs and expenses are attributable to the ownership or operation of the Company and its Restricted Subsidiaries; 

(5) audit and other accounting and reporting expenses at such direct or indirect parent company to the extent relating to the
ownership or operations of the Company and/or its Restricted Subsidiaries; 
 (6) (1) fees and expenses other than to
Affiliates of the Company related to any equity or debt offering, acquisition, disposition or merger of such parent company (whether or not successful) and (2) Public Company Costs; 

  
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 (7) (1) cash payments in lieu of issuing fractional shares in connection with
the exercise of warrants, options or other securities convertible into or exchangeable for Equity Interests of the Company or any direct or indirect parent and (2) consisting of payments made or expected to be made in respect of withholding or
similar Taxes payable by any future, present or former officers, directors, employees, members of management, managers or consultants of the Company, any Restricted Subsidiary or any direct or indirect parent company or any of their respective
immediate family members; 
 (8) payments permitted under Sections 10.5(b)(iii), (iv), (vii), (x) and (xix); 

(9) payments to finance any Investment permitted to be made pursuant to this Section 10.1; provided that
(1) such Restricted Payment shall be made within 60 days of the closing of such Investment, (2) such parent shall, promptly following the closing thereof, cause (A) all property acquired (whether assets or Equity Interests) to be
contributed to the Company or a Restricted Subsidiary or (B) the merger, consolidation or amalgamation to the extent permitted pursuant to Section 10.4 of the Person formed or acquired into the Company or a Restricted Subsidiary in order
to consummate such acquisition or Investment in a manner that causes such Investment to be a Permitted Investment, (3) such direct or indirect parent company and its Affiliates (other than the Company or a Restricted Subsidiary) receives no
consideration or other payment in connection with such transaction except to the extent the Company or a Restricted Subsidiary would have given such consideration or made such payment in compliance with this Agreement, (4) any property received
by the Company shall not increase amounts available for Restricted Payments pursuant to Section 10.1(a)(iv)(3)(C) and (5) such Investment shall be deemed to be made by the Company or such Restricted Subsidiary pursuant to another provision of
this Section 10.1 (other than pursuant to Section 10.1(b)(x) hereof) or pursuant to the definition of “Permitted Investments”; 

(xvi) the distribution, by dividend or otherwise, or other transfer or disposition of shares of Capital Stock, of Equity Interests in, or
Indebtedness owed to the Company or a Restricted Subsidiary by, Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, substantially all the assets of which are cash and Cash Equivalents) or the proceeds thereof; 

(xvii) cash payments in lieu of the issuance of fractional shares in connection with the exercise of warrants, options or other securities
convertible into or exchangeable for Capital Stock of the Company, any of its Restricted Subsidiaries or any direct or indirect parent company of the Company; 

(xviii) any Restricted Payment if immediately after giving pro forma effect thereto and the incurrence of any Indebtedness the net
proceeds of which are used to finance such Restricted Payment, the Consolidated Total Leverage Ratio of the Company and its Restricted Subsidiaries would not have exceeded 3.75:1.00; and 

(xix) payments or distributions to dissenting stockholders pursuant to applicable law, pursuant to or in connection with a consolidation,
merger or transfer of all or substantially all of the assets of the Company and its Restricted Subsidiaries, taken as a whole, that complies with the covenant in Section 10.4; 

  
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 provided, however, that at the time of, and after giving effect to, any Restricted Payment
permitted under Sections 10.1(b)(xi), (b)(xvi) and (b)(xviii), no Default shall have occurred and be continuing or would occur as a consequence thereof. 

In determining whether any Restricted Payment is permitted by this Section 10.1, the Company and its Restricted
Subsidiaries may allocate all or any portion of such Restricted Payment among the categories described in Sections 10.1(b)(i) through (b)(xix) or among such categories and the types of Restricted Payments described in Section 10.1(a) (including
categorization in whole or in part as one or more of the clauses contained in the definition of “Permitted Investments”); provided that, at the time of such allocation, all such Restricted Payments, or allocated portions thereof, would be
permitted under the various provisions of this Section 10.1 and provided further that the Company and its Restricted Subsidiaries may reclassify all or a portion of such Restricted Payment or Permitted Investment in any manner that complies
with this Section 10.1 (based on circumstances existing at the time of such reclassification), and following such reclassification such Restricted Payment or Permitted Investment shall be treated as having been made pursuant to only the clause
or clauses of this covenant to which such Restricted Payment or Permitted Investment has been reclassified. 
 The amount of
all Restricted Payments (other than cash) will be the fair market value on the date the Restricted Payment is made, or at the Company’s election, the date a commitment is made to make such Restricted Payment, of the assets or securities
proposed to be transferred or issued by the Company or any Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment. 

As of the Closing Date, all of the Company’s Subsidiaries will be Restricted Subsidiaries. The Company shall not permit
any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the second to last sentence of the definition of “Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted
Subsidiary, all outstanding Investments by the Company and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Investments in an amount determined as set forth in the last sentence of the
definition of “Investments.” Such designation shall only be permitted if a Restricted Payment or Permitted Investment in such amount would be permitted at such time, whether pursuant to Section 10.1(a) or Section 10.1(b)(vii), (b)(x),
(b)(xi) or (b)(xviii) or pursuant to the definition of Permitted Investment and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries shall not be subject to any of the restrictive covenants set
forth in this Agreement. 
 For the avoidance of doubt, this covenant shall not restrict the making of any “AHYDO catch
up payment” with respect to, and required by the terms of, any Indebtedness of the Company or any of its Restricted Subsidiaries permitted to be incurred under the terms of this Agreement. 

  
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 10.2. Limitation on Incurrence of Indebtedness and Issuance of Disqualified
Stock and Preferred Stock. 
 (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise (collectively, “incur” and collectively, an “incurrence”) with respect to any
Indebtedness (including Acquired Indebtedness) and the Company shall not issue any shares of Disqualified Stock and shall not permit any Restricted Subsidiary to issue any shares of Disqualified Stock or Preferred Stock; provided, however,
that the Company may incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and any of its Restricted Subsidiaries may incur Indebtedness (including Acquired Indebtedness), issue shares of Disqualified Stock and
issue shares of Preferred Stock, if the Fixed Charge Coverage Ratio for the Company and its Restricted Subsidiaries’ most recently ended four fiscal quarters for which internal financial statements are available immediately preceding the date
on which such additional Indebtedness is incurred or such Disqualified Stock or Preferred Stock is issued would have been at least 2.00 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds
therefrom), as if the additional Indebtedness had been incurred, or the Disqualified Stock or Preferred Stock had been issued, as the case may be, and the application of the proceeds therefrom had occurred at the beginning of such four-quarter
period; provided that the amount of Indebtedness (including Acquired Indebtedness), Disqualified Stock and Preferred Stock that may be incurred or issued, as applicable, pursuant to the foregoing by Restricted Subsidiaries that are not
Guarantors under this Section 10.2(a) shall not exceed, in the aggregate, (together with all Indebtedness incurred under Section 10.2(b)(xviii) by Restricted Subsidiaries that are not Guarantors) the greater of (x) $190.0 million and (y) 4.5%
of Consolidated Total Assets at any one time outstanding. 
 (b) The foregoing limitations will not apply to: 

(i) Indebtedness incurred pursuant to Credit Facilities by the Company or any Restricted Subsidiary; provided that immediately after
giving effect to any such incurrence, the aggregate principal amount of all Indebtedness incurred under this clause (a) and then outstanding does not exceed the sum of (A) the greater of $250.0 million and the Borrowing Base as of the
date of such incurrence plus (B) the sum of (i) $900.0 million, (ii) the euro equivalent of $300.0 million based on the exchange rate in effect on the Closing Date and (iii) the Available Incremental Amount; provided
that any Indebtedness incurred under this clause (i) may be refinanced, with additional Indebtedness in an amount equal to the principal of the Indebtedness so refinanced, plus any additional amount to pay premiums (including tender premiums),
accrued and unpaid interest, expenses, defeasance costs and fees in connection therewith; 
 (ii) the incurrence by the Company and any
Guarantor of Indebtedness represented by the Notes (including any Guarantee); 
 (iii) Indebtedness of the Company and its Restricted
Subsidiaries in existence, or pursuant to commitments existing, on the Closing Date, including the Secured Notes and the Existing Senior Notes, but excluding Indebtedness described in clauses (i) and (ii); 

(iv) (a) Indebtedness (including Capitalized Lease Obligations, mortgage financings and purchase money obligations) incurred or
Disqualified Stock issued by the Company or any Restricted Subsidiary and Preferred Stock issued by any Restricted Subsidiary, to finance the purchase, lease, replacement or improvement of property (real or personal) or equipment, whether through
the direct purchase of assets or the Capital Stock of any Person owning such assets and (b) any Indebtedness incurred or Disqualified Stock or Preferred Stock issued to refund, refinance or 

  
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replace any other Indebtedness incurred or Disqualified Stock or Preferred Stock issued pursuant to this clause (iv); provided that the aggregate amount of Indebtedness incurred and
Disqualified Stock and Preferred Stock issued pursuant to clauses (a) and (b) of this clause (iv) does not exceed the greater of (x) $200.0 million and (y) 5.0% of Consolidated Total Assets at any one time outstanding; 

(v) Indebtedness incurred by the Company or any of its Restricted Subsidiaries constituting reimbursement obligations with respect to letters
of credit, bank guarantees or similar instruments supporting trade payables, bankers acceptances, warehouse receipts or similar facilities issued in the ordinary course of business, including, without limitation, letters of credit in respect of
workers’ compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance, unemployment insurance (including premiums related thereto) or other types of social security, pension
obligations, vacation pay, health, disability or other employee benefits; 
 (vi) Indebtedness arising from agreements of the Company or its
Restricted Subsidiaries providing for indemnification, adjustment of purchase price, earnouts or similar obligations, in each case, incurred or assumed in connection with an acquisition or disposition of any business, assets or a Subsidiary, other
than guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing such acquisition and Indebtedness arising from guarantees, letters of credit, bank guarantees,
surety bonds, performance bonds or similar instruments securing the performance of the Company or any Restricted Subsidiary pursuant to any such agreement; 

(vii) Indebtedness of the Company to a Restricted Subsidiary; provided that any such Indebtedness owing to a Restricted Subsidiary that
is not a Guarantor is expressly subordinated in right of payment to the Notes within 90 days of the incurrence of such Indebtedness; provided further that any subsequent issuance or transfer of any Capital Stock or any other event which
results in any Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Company or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted
Lien) shall be deemed, in each case, to be an incurrence of such Indebtedness not permitted by this clause (vii); 
 (viii) Indebtedness of
a Restricted Subsidiary to the Company or another Restricted Subsidiary; provided that if a Guarantor incurs such Indebtedness to a Restricted Subsidiary that is not a Guarantor, such Indebtedness is expressly subordinated in right of payment
to the Guarantee of the Notes of such Guarantor within 90 days of the incurrence of such Indebtedness; provided further that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary
ceasing to be a Restricted Subsidiary or any subsequent transfer of any such Indebtedness (except to the Company or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted Lien) shall be deemed, in each case, to be
an incurrence of such Indebtedness not permitted by this clause (viii); 
 (ix) shares of Preferred Stock or Disqualified Stock of a
Restricted Subsidiary issued to the Company or another Restricted Subsidiary, provided that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted
Subsidiary or any other subsequent transfer of any such shares of Preferred Stock or Disqualified Stock (except to the Company or another of its Restricted Subsidiaries) shall be deemed in each case to be an issuance of such shares of Preferred
Stock or Disqualified Stock not permitted by this clause (ix); 

  
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 (x) (a) Hedging Obligations (excluding Hedging Obligations entered into for speculative
purposes) for the purpose of limiting interest rate risk, exchange rate risk or commodity pricing risk, and (b) Indebtedness in respect of any Bank Products or Cash Management Services provided by any agent or lender party to a Senior Credit
Facility or any affiliate of such agent or lender (or any Person that was an agent or lender or an affiliate of an agent or lender at the time the applicable agreement pursuant to which such Bank Products or Cash Management Services are provided was
entered into) in the ordinary course of business; 
 (xi) obligations (including reimbursement obligations with respect to guarantees,
letters of credit, bank guarantees or other similar instruments) in respect of tenders, statutory obligations, leases, governmental contracts, trade contracts, stay, performance, bid, customs, appeal and surety bonds and performance and/or return of
money bonds and completion guarantees or other obligations of a like nature provided by the Company or any of its Restricted Subsidiaries in the ordinary course of business or consistent with past practice or industry practices; 

(xii) (a) Indebtedness or Disqualified Stock of the Company and Indebtedness, Disqualified Stock or Preferred Stock of any Restricted
Subsidiary equal to 100.0% of the net cash proceeds received by the Company since immediately after the Closing Date from the issue or sale of Equity Interests of the Company or cash contributed to the capital of the Company (in each case, other
than proceeds of Disqualified Stock or sales of Equity Interests to the Company or any of its Subsidiaries) as determined in accordance with Sections 10.1(a)(iv)(3)(B) and 10.1(a)(iv)(3)(C) to the extent such net cash proceeds or cash have not been
applied pursuant to such clauses to make Restricted Payments or to make other Investments, payments or exchanges pursuant to Section 10.1(b) or to make Permitted Investments (other than Permitted Investments specified in clauses (a) and (c) of
the definition thereof) and (b) Indebtedness or Disqualified Stock of the Company and Indebtedness, Disqualified Stock or Preferred Stock of any Restricted Subsidiary not otherwise permitted hereunder in an aggregate principal amount or
liquidation preference, which when aggregated with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and incurred or issued, as applicable, pursuant to this clause
(xii)(b), does not at any one time outstanding exceed the greater of (x) $200.0 million and (y) 5.0% of Consolidated Total Assets plus, in the event of any extension, replacement, refinancing, renewal or defeasance of any such Indebtedness or
Disqualified Stock, an amount equal to the amount of any tender premium or any premium required to be paid under the terms of the instrument governing such Indebtedness or Disqualified Stock and any defeasance costs and any fees and expenses
(including original issue discount, upfront fees or similar fees) incurred in connection with the issuance of such new Indebtedness or the extensions, replacement, refunding, refinancing, renewal or defeasance of such Indebtedness or Disqualified
Stock (it being understood that any Indebtedness incurred or Disqualified Stock or Preferred Stock issued pursuant to this clause (xii)(b) shall cease to be deemed incurred, issued or outstanding for purposes of this clause (xii)(b) but shall be
deemed incurred or issued for the purposes of Section 10.2(a) from and after the first date on which the Company or such Restricted Subsidiary would have incurred such Indebtedness or issued such Disqualified Stock or Preferred Stock under Section
10.2(a) without reliance on this clause (xii)(b)); 

  
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 (xiii) the incurrence by the Company or any Restricted Subsidiary of Indebtedness or issuance of
Disqualified Stock or the issuance by any Restricted Subsidiary of Preferred Stock which serves to extend, replace, refund, refinance, renew or defease any Indebtedness incurred (including any existing commitments unutilized thereunder) or
Disqualified Stock or Preferred Stock issued as permitted under Sections 10.2(a), 10.2(b)(ii), 10.2(b)(iii), 10.2(b)(xii)(a), this clause 10.2(b)(xiii) and 10.2(b)(xiv) or any Indebtedness incurred or Disqualified Stock or Preferred Stock issued to
so extend, replace, refund, refinance or renew such Indebtedness, Disqualified Stock or Preferred Stock including additional Indebtedness incurred or Disqualified Stock or Preferred Stock issued to pay accrued interest, premiums (including tender
premiums), defeasance costs and fees and expenses (including original issue discount, upfront fees or similar fees) in connection therewith (the “Refinancing Indebtedness”) prior to its respective maturity; provided, however, that
such Refinancing Indebtedness: 
 (1) has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is
incurred or issued which is not less than the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being extended, replaced, refunded, refinanced, renewed or defeased (except by virtue of prepayment
of such Indebtedness); 
 (2) to the extent such Refinancing Indebtedness extends, replaces, refunds, refinances, renews or
defeases (x) Indebtedness subordinated to or pari passu with the Notes or any Guarantee thereof, such Refinancing Indebtedness is subordinated to or pari passu with the Notes or the Guarantee at least to the same extent as the
Indebtedness being extended, replaced, refunded, refinanced, renewed or defeased or (y) Disqualified Stock or Preferred Stock, such Refinancing Indebtedness must be Disqualified Stock or Preferred Stock, respectively; and 

(3) shall not include (x) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Company that is not
a Guarantor that refinances Indebtedness, Disqualified Stock or Preferred Stock of the Company, (y) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Company that is not a Guarantor that refinances Indebtedness,
Disqualified Stock or Preferred Stock of a Guarantor, or (z) Indebtedness, Disqualified Stock or Preferred Stock of the Company or a Restricted Subsidiary that refinances Indebtedness, Disqualified Stock or Preferred Stock of an Unrestricted
Subsidiary; 
 and provided further that subclause (1) of this clause (xiii) will not apply to any extension, replacement,
refunding, refinancing, renewal or defeasance of any Indebtedness outstanding under a Credit Facility; 
 (xiv) (a) Indebtedness or
Disqualified Stock of the Company or Indebtedness, Disqualified Stock or Preferred Stock of a Restricted Subsidiary incurred or issued to finance an acquisition, merger, consolidation or amalgamation (or other purchase of assets) or
(b) Indebtedness, Disqualified Stock or Preferred Stock of Persons that are acquired by the Company or any Restricted Subsidiary or merged into or amalgamated or consolidated with or into the Company or a Restricted Subsidiary in accordance
with the terms of this Agreement or that is assumed by the Company or any Restricted Subsidiary in connection with such acquisition, which with respect to this clause (b) is not 

  
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incurred by such Persons in connection with, or in anticipation of, such acquisition, merger, amalgamation or consolidation; provided that such Indebtedness is in an aggregate amount not
to exceed (i) the greater of (x) $50.0 million and (y) 1.5% of Consolidated Total Assets at any time outstanding plus (ii) unlimited additional Indebtedness if, in the case of each of (a) and (b) after giving effect to such
acquisition, merger, amalgamation or consolidation, either 
 (1) the Company would be permitted to incur at least $1.00 of
additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 10.2(a), or 
 (2) the Fixed
Charge Coverage Ratio of the Company and its Restricted Subsidiaries is equal to or greater than immediately prior to such acquisition, merger, amalgamation or consolidation; 

(xv) Indebtedness (1) arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn
against insufficient funds in the ordinary course of business and (2) Indebtedness in respect of any commercial credit cards, stored value cards, purchasing cards, treasury management, check drawing and automated payment services (including
depository, overdraft, controlled disbursement, ACH transactions, return items, interstate depository network services, Society for Worldwide Interbank Financial Telecommunication transfers, cash pooling and operational foreign exchange management),
dealer incentive, supplier finance or similar programs, current account facilities, employee credit card programs, overdraft facilities, foreign exchange facilities, payment facilities and, in each case, similar arrangements and cash management
arrangements entered into in the ordinary course of business; 
 (xvi) Indebtedness of the Company or any of its Restricted Subsidiaries
supported by a letter of credit or bank guarantee issued pursuant to a Credit Facility, in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee; 

(xvii)     

(1) any guarantee by the Company or a Restricted Subsidiary of Indebtedness or other obligations of any Restricted Subsidiary
so long as the incurrence of such Indebtedness incurred by such Restricted Subsidiary is permitted under the terms of this Agreement, or 

(2) any guarantee by a Restricted Subsidiary of Indebtedness of the Company provided that such guarantee is incurred in
accordance with Section 9.6, or 
 (3) any co-issuance by the Company or any
Restricted Subsidiary of Indebtedness or other obligations of the Company or any Restricted Subsidiary so long as the incurrence of such Indebtedness incurred by the Company or such Restricted Subsidiary is permitted under the terms of this
Agreement; 
 (xviii) Indebtedness of non-Guarantor Subsidiaries of the Company incurred not to
exceed, together with any other Indebtedness incurred under this clause (xviii) at any one time outstanding (together with all Indebtedness incurred under Section 10.2(a) by Restricted Subsidiaries that are not Guarantors), the greater of (a)
$190.0 million and (b) 4.5% of Consolidated 

  
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Total Assets (it being understood that any Indebtedness incurred pursuant to this clause (xviii) shall cease to be deemed incurred or outstanding for purposes of this clause (xviii) but
shall be deemed incurred in accordance with Section 10.2(a) from and after the first date on which the applicable non-Guarantor Subsidiary could have incurred such Indebtedness under Section 10.2(a) without
reliance on this clause (xviii); 
 (xix) Indebtedness of the Company or any of its Restricted Subsidiaries consisting of (1) the
financing of insurance premiums, (2) take-or-pay obligations contained in supply arrangements, in each case incurred in the ordinary course of business and/or
(3) obligations to reacquire assets or inventory in connection with customer financing arrangements in the ordinary course of business; 

(xx) Indebtedness consisting of Indebtedness issued by the Company or any of its Restricted Subsidiaries to any stockholders of any direct or
indirect parent company or any future, present or former employee, officer, director, member of management, consultant or independent contractor (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic
partner of any of the foregoing), or any direct or indirect parent thereof, in each case to finance the purchase or redemption of Equity Interests of the Company, a Restricted Subsidiary or any of their direct or indirect parent companies to the
extent described in Section 10.1(b)(iv); 
 (xxi) (a) Indebtedness incurred by a Receivables Subsidiary in a Receivables Facility that
is not recourse to the Company or any Restricted Subsidiary other than the Receivables Subsidiary (except for Securitization Undertakings) and (b) to the extent constituting Indebtedness, obligations of the Company or a Restricted Subsidiary as
seller or servicer under a Receivables Facility and any guarantee by the Company of such Indebtedness; 
 (xxii) Indebtedness of the Company
or any Restricted Subsidiary as an account party in respect of trade letters of credit issued in the ordinary course of business; 
 (xxiii)
Indebtedness consisting of obligations owing under dealer incentive, supply, license or similar agreements entered into in the ordinary course of business; 

(xxiv) Indebtedness representing deferred compensation to directors, officers, employees, members of management, managers or consultants of
the Company or any of its Restricted Subsidiaries or any direct or indirect parent company incurred in the ordinary course of business and deferred compensation or other similar arrangements in connection with the Transactions or in connection with
any Investments or any Restricted Payments permitted pursuant to Section 10.1; 
 (xxv) Indebtedness in an aggregate principal or face
amount at any time outstanding not to exceed $30.0 million in respect of letters of credit, bank guarantees, surety bonds, performance bonds and similar instruments issued for general corporate purposes and denominated in currencies other than
dollars, euros or pounds sterling; 
 (xxvi) Indebtedness arising in respect of Sale and Lease-Back Transactions not to exceed the greater
of (x) $120.0 million and (y) 3.0% of Consolidated Total Assets; 

  
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 (xxvii) Indebtedness consisting of guarantees of Indebtedness incurred by joint ventures not to
exceed the greater of (x) $40.0 million and (y) 1.0% of Consolidated Total Assets; 
 (xxviii) Indebtedness in respect of the Specified
Property Financing; and 
 (xxix) Indebtedness of the Company and/or any Restricted Subsidiary incurred in (a) a Specified Lease
Transaction or (b) an NMTC Transaction; and 
 (xxx) all premiums (if any), interest (including post-petition interest), fees,
expenses, charges and additional or continent interest or obligations described in clauses (i) through (xxix) above. 

For purposes of determining compliance with this Section 10.2, in the event that an item of Indebtedness, Disqualified
Stock or Preferred Stock (or any portion thereof) meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (i) through (xxx) above or is entitled to be incurred
pursuant to Section 10.2(a), the Company shall, in its sole discretion, classify or reclassify, or later divide, classify or reclassify, such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) in any manner that
complies with this Section 10.2; provided that all Indebtedness outstanding under the Senior Credit Facilities on the Closing Date shall be treated as incurred on the Closing Date under Section 10.2(b)(i). 

Accrual of interest or dividends, the accretion of accreted value, the accretion or amortization of original issue discount,
and the payment of interest or dividends in the form of additional Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, of the same class, accretion or amortization of original issue discount or liquidation preference and
increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an incurrence of Indebtedness or an issuance of Disqualified Stock or Preferred Stock for purposes of
this Section 10.2. Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of
such amount of Indebtedness; provided that the incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section 10.2. 

For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness, the U.S.
dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the case of term debt, or first committed
or first incurred (whichever yields the lower U.S. dollar equivalent), in the case of revolving credit debt; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such
refinancing would cause the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to
have been exceeded so long as the principal amount of such refinancing Indebtedness (plus premium (including tender premiums), fees, defeasance costs, accrued interest and expenses including original issue discount, upfront fees or similar fees)
does not exceed the principal amount of such Indebtedness being refinanced. 

  
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 The principal amount of any Indebtedness incurred to refinance other
Indebtedness, if incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that is in effect on
the date of such refinancing. Notwithstanding anything in this Section 10.2 to the contrary, in the case of any Indebtedness incurred to refinance Indebtedness initially incurred in reliance on Section 10.2(b) measured by reference to a
percentage of Consolidated Total Assets at the time of incurrence, if such refinancing would cause the percentage of Consolidated Total Assets restriction to be exceeded if calculated based on the percentage of Consolidated Total Assets on the date
of such refinancing, such percentage of Consolidated Total Assets restriction shall not be deemed to be exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being
refinanced, plus premiums (including tender premiums), defeasance, costs and fees in connection with such refinancing. 
 In
the event that the Company or a Restricted Subsidiary enters into or increases commitments under a revolving credit facility, the Fixed Charge Coverage Ratio, the Consolidated First Lien Debt Ratio or the Consolidated Total Leverage Ratio, as
applicable, for borrowings and reborrowings thereunder (and including issuance and creation of letters of credit and bankers’ acceptances thereunder) will, at the Company’s option as elected on the date the Company or a Restricted
Subsidiary, as the case may be, enters into or increases such commitments, either (a) be determined on the date of such revolving credit facility or such increase in commitments (assuming that the full amount thereof has been borrowed as of
such date), and, if such Fixed Charge Coverage Ratio, the Consolidated First Lien Debt Ratio or the Consolidated Total Leverage Ratio, as applicable, test is satisfied with respect thereto at such time, any borrowing or reborrowing thereunder (and
the issuance and creation of letters of credit and bankers’ acceptances thereunder) will be permitted under this covenant irrespective of the Fixed Charge Coverage Ratio, the Consolidated First Lien Debt Ratio or the Consolidated Total Leverage
Ratio, as applicable, at the time of any borrowing or reborrowing (or issuance or creation of letters of credit or bankers’ acceptances thereunder) (the committed, but undrawn amount permitted to be borrowed or reborrowed (and the issuance and
creation of letters of credit and bankers’ acceptances) on a date pursuant to the operation of this clause (a) shall be the “Reserved Indebtedness Amount” as of such date for purposes of the Fixed Charge Coverage Ratio, the
Consolidated First Lien Debt Ratio or the Consolidated Total Leverage Ratio, as applicable) or (b) be determined on the date such amount is borrowed pursuant to any such facility or increased commitment. 

The Company will not, and will not permit any Subsidiary Guarantor to, directly or indirectly, incur any Indebtedness
(including Acquired Indebtedness) that is contractually subordinated or junior in right of payment to any Indebtedness of the Company or such Subsidiary Guarantor, as the case may be, unless such Indebtedness is expressly subordinated in right of
payment to the Notes or such Subsidiary Guarantor’s Guarantee within 90 days of the incurrence of such Indebtedness to the extent and in the same manner as such Indebtedness is subordinated to other Indebtedness of the Company or such
Subsidiary Guarantor, as the case may be. 

  
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 In this Agreement, Indebtedness that is unsecured shall not be deemed to be
subordinated or junior to Secured Indebtedness merely because it is unsecured, and senior indebtedness shall not be deemed to be subordinated or junior to any other senior indebtedness merely because it has a junior priority with respect to the same
collateral. 
 10.3. Liens. 

The Company will not, and will not permit any Subsidiary Guarantor to, directly or indirectly, create, incur, assume or suffer
to exist any Lien (except Permitted Liens) that secures Obligations under any Indebtedness or any related guarantee, on any asset or property of the Company or any Subsidiary Guarantor, or any income or profits therefrom, or assign or convey any
right to receive income therefrom, unless: 
 (a) in the case of Liens securing Subordinated Indebtedness, the Notes and
related Guarantees are secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens; or 

(b) in all other cases, the Notes or the Guarantees are equally and ratably secured, except that the foregoing shall not apply
to or restrict (i) Liens securing the Notes and the related Guarantees and (ii) Liens securing obligations in respect of (x) Indebtedness and other obligations permitted to be incurred under Credit Facilities, including any letter of
credit facility relating thereto, that was permitted to be incurred pursuant to Section 10.2(b)(i) and (y) obligations of the Company or any Guarantor in respect of any Bank Products or Cash Management Services provided by any agent or lender
party to any Senior Credit Facility or any affiliate of such agent or lender (or any Person that was a lender or an affiliate of a lender at the time the applicable agreements pursuant to which such Bank Products or Cash Management Services are
provided were entered into). 
 Any Lien created for the benefit of the holders pursuant to this covenant shall be deemed
automatically and unconditionally released and discharged upon the release and discharge of each of the Liens described in clauses (a) and (b) above. 

The expansion of Liens by virtue of accrual of interest, the accretion of accreted value, the payment of interest or dividends
in the form of additional Indebtedness, amortization of original issue discount and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property
securing Indebtedness will not be deemed to be an incurrence of Liens for purposes of this covenant. 
 10.4. Merger,
Consolidation or Sale of All or Substantially All Assets. 
 (a) The Company shall not consolidate or merge with or into
or wind up into (whether or not the Company is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets on a consolidated basis, in one or more related
transactions, to any Person unless: 
 (i) the Company is the surviving Person or the Person formed by or surviving any such consolidation
or merger (if other than the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation, partnership, 

  
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limited liability company or trust organized or existing under the laws of the United States, any state thereof or the District of Columbia (the Company or such Person, as the case may be, being
herein called the “Successor Company”); 
 (ii) the Successor Company, if other than the Company, expressly assumes all the
obligations of the Company under this Agreement and the Notes pursuant to a joinder or other document or instrument; 
 (iii) immediately
after such transaction, no Default shall have occurred and be continuing; 
 (iv) immediately after giving pro forma effect to such
transaction and any related financing transactions, as if such transactions had occurred at the beginning of the applicable four-quarter period, either 

(1) the Successor Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge
Coverage Ratio test set forth in Section 10.2(a), or 
 (2) the Fixed Charge Coverage Ratio for the Successor Company and
its Restricted Subsidiaries would be equal to or greater than the Fixed Charge Coverage Ratio for the Company and its Restricted Subsidiaries immediately prior to such transaction; and 

(v) each Guarantor, unless it is the other party to the transactions described above, in which case Section 10.4(c)(i)(2) shall apply, shall
have by joinder confirmed that its Guarantee shall apply to such Person’s obligations under this Agreement and the Notes. 

The Successor Company (if other than the Company) shall succeed to, and be substituted for the Company, as the case may be,
under this Agreement and the Notes and in such event the Company will automatically be released and discharged from its obligation under this Agreement and the Notes. 

(b) Notwithstanding Sections 10.4(a)(iii) and (a)(iv) (which do not apply to the following transactions), but subject to the
remaining provisions of this Section 10.4: 
 (i) any Restricted Subsidiary may consolidate with or merge with or into or wind up into
or sell, assign, transfer, lease, convey or otherwise dispose of all or part of its properties and assets to the Company or any other Restricted Subsidiary; 

(ii) the Company may consolidate with or merge with or into or wind up into an Affiliate of the Company solely for the purpose of
reincorporating the Company in a state of the United States, the District of Columbia or any territory thereof so long as the amount of Indebtedness of the Company and its Restricted Subsidiaries is not increased thereby; and 

(iii) the Company or any of its Subsidiaries may be converted into, or reorganized or reconstituted as a limited liability company, limited
partnership or corporation in a state of the United States, the District of Columbia or any territory thereof. 

  
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 (c) Subject to certain limitations described in this Agreement governing the release of a
Guarantee upon the sale, disposition or transfer of a Subsidiary Guarantor, no Subsidiary Guarantor shall, and the Company shall not permit any Subsidiary Guarantor to, consolidate or merge with or into or wind up into (whether or not the Company or
a Subsidiary Guarantor is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one or more related transactions, to any Person (other than any such
sale, assignment, transfer, lease, conveyance or disposition in connection with the Transactions) unless: 
 (i) (1) such Subsidiary
Guarantor is the surviving Person or the Person formed by or surviving any such consolidation or merger (if other than such Subsidiary Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been
made is a corporation, partnership or limited liability company organized or existing under the laws of the jurisdiction of organization of such Subsidiary Guarantor, as the case may be, or the laws of under the laws of the United States, any state
thereof, the District of Columbia or any territory thereof (such Subsidiary Guarantor or such Person, as the case may be, being herein called the “Successor Person”); 

(2) the Successor Person, if other than such Subsidiary Guarantor, expressly assumes all the obligations of such Subsidiary
Guarantor under this Agreement and such Subsidiary Guarantor’s related Guarantee pursuant to a joinder or other documents or instruments; and 

(3) immediately after such transaction, no Default exists; or 

(ii) the transaction is made in compliance with Section 10.7(a). 

Subject to certain limitations described in this Agreement, the Successor Person (if other than such Subsidiary Guarantor) will
succeed to, and be substituted for, such Subsidiary Guarantor under this Agreement and such Subsidiary Guarantor’s Guarantee, and such Subsidiary Guarantor will automatically be released and discharged from its obligations under this Agreement
and such Subsidiary Guarantor’s Guarantee. Notwithstanding the foregoing, (1) any Subsidiary Guarantor may consolidate with or merge with or into or wind up into or sell, assign, transfer, lease, convey or otherwise dispose of all or part
of its properties and assets to another Subsidiary Guarantor or to the Company, (2) a Subsidiary Guarantor may consolidate or merge with or into or wind up or convert into an Affiliate incorporated solely for the purpose of reincorporating such
Subsidiary Guarantor in another state of the United States or the District of Columbia so long as the amount of Indebtedness of the Subsidiary Guarantor is not increased thereby, or (3) a Subsidiary Guarantor may convert into a Person organized
or existing under the laws of a jurisdiction in the United States. 
 Sections 10.4(a)(iii) and (a)(iv) will not apply to a
sale, assignment, transfer, conveyance or other disposition of assets between or among the Company and the Restricted Subsidiaries. 

  
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 10.5. Transactions with Affiliates. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease,
transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of,
any Affiliate of the Company (each of the foregoing, an “Affiliate Transaction”) involving aggregate payments or consideration in excess of $15.0 million, unless: 

(i) such Affiliate Transaction is on terms, taken as a whole, that are not materially less favorable to the Company or its relevant Restricted
Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person on an arm’s-length basis; and 

(ii) the Company delivers with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate payments
or consideration in excess of (x) $30.0 million, a resolution adopted by the majority of the Board of Directors of the Company approving such Affiliate Transaction and set forth in an Officer’s Certificate of the Company certifying that
such Affiliate Transaction complies with clause (i) above and (y) $50.0 million, an opinion as to the fairness to the Company or such Restricted Subsidiary of such Affiliate Transaction from a financial point of view issued by an
investment banking, appraisal or accounting firm of national standing. 
 (b) The foregoing provisions will not apply to the
following: 
 (i) transactions between or among the Company or any of its Restricted Subsidiaries, or an entity that becomes a Restricted
Subsidiary as a result of such transaction, and any merger, consolidation or amalgamation of the Company and any direct or indirect parent of the Company; provided that such parent shall have no material liabilities and no material assets
other than cash, Cash Equivalents and Capital Stock of the Company (or a parent company thereof) and such merger, consolidation or amalgamation is otherwise in compliance with the terms of this Agreement and effected for a bona fide business
purpose; 
 (ii) Restricted Payments permitted by Section 10.1 and Investments constituting Permitted Investments; 

(iii) (1) so long as no Event of Default under Section 11(a), (b), (i) or (j) shall have occurred and be continuing or would result
as a consequence thereof, the payment of management, consulting, monitoring, transaction, oversight, advisory, termination and similar fees and related indemnities and expenses pursuant to the Sponsor Management Agreements as in effect on the
Closing Date, and any amendment thereto or replacement thereof so long as any such amendment or replacement is not disadvantageous in any material respect, in the good faith judgment of the Company, to the holders when taken as a whole as compared
to the Sponsor Management Agreements in effect on the Closing Date (it being understood that any amendment thereto or replacement thereof to increase any fees or other compensation payable or implement new fees or compensation payable pursuant to
such Sponsor Management Agreements would be deemed to be materially disadvantageous to the holders) and (2) the payment of all indemnities and expenses owed to any Investors and each of their respective directors, officers, members of
management, managers, employees and consultants, in each case of clauses (1) and (2) whether currently due or paid in respect of accruals from prior periods; 

  
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 (iv) the payment of customary fees, reasonable out of pocket costs to and reimbursement of
expenses and compensation paid to, and indemnities provided on behalf of or for the benefit of, future, present or former employees, officers, members of the Board of Directors (or similar governing body), members of management, managers,
consultants or independent contractors (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the Company, any of its direct or indirect parent companies or any of its
subsidiaries; 
 (v) transactions in which the Company or any of its Restricted Subsidiaries, as the case may be, delivers a letter from an
Independent Financial Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or stating that the terms are not materially less favorable to the Company or its relevant Restricted
Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person on an arm’s-length basis; 

(vi) any agreement as in effect as of the Closing Date, or any amendment, modification or extension thereof (so long as any such amendment is
not disadvantageous in any material respect to the holders when taken as a whole as compared to the applicable agreement as in effect on the Closing Date as determined in good faith by the Company) or any transaction contemplated thereby; 

(vii) the existence of, or the performance by the Company, any of its Restricted Subsidiaries or any direct or indirect parent of the Company
of its obligations under the terms of, any stockholders or principal investors agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the Closing Date, and any amendment thereto or
similar transactions, agreements or arrangements which it may enter into thereafter; provided, however, that the existence of, or the performance by the Company or any of its Restricted Subsidiaries of obligations under, any future amendment
to any such existing transaction, agreement or arrangement or any similar transaction, agreement or arrangement entered into after the Closing Date shall only be permitted by this clause (vii) to the extent that the terms of any such existing
transaction, agreement or arrangement together with all amendments thereto, taken as a whole, or new transaction, agreement or arrangement are not otherwise disadvantageous in any material respect to the holders when taken as a whole as compared to
the original agreement in effect on the Closing Date as determined in good faith by the Company; 
 (viii) (1) transactions with
customers, clients, suppliers, joint ventures, contractors, or purchasers or sellers of goods or services or providers of employees or other labor, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the
ordinary course of business and otherwise in compliance with the terms of this Agreement which are fair to the Company and its Restricted Subsidiaries, in the good faith determination of the Board of Directors (or similar governing body) of the
Company or the senior management thereof, or are on terms at least as favorable as would reasonably have been obtained at such time from an unaffiliated party on an arm’s length basis or (2) transactions with joint ventures or Unrestricted
Subsidiaries entered into in the ordinary course of business and consistent with past practice; 

  
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 (ix) the issuance of Equity Interests (other than Disqualified Stock or Preferred Stock) of the
Company or a Restricted Subsidiary to any person and the granting and performance of customary registration rights; 
 (x) payments by the
Company or any of its Restricted Subsidiaries made for any financial advisory, consulting, financing, underwriting or placement services or in respect of other investment banking activities and other transaction fees, including, without limitation,
in connection with acquisitions or divestitures which payments are approved by a majority of the Board of Directors of the Company in good faith or are otherwise permitted by this Agreement; 

(xi) (1) payments or loans (or cancellation of loans) or advances to employees, officers, directors, members of management, consultants
or independent contractors (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the Company, any of its direct or indirect parent companies or any of its Restricted
Subsidiaries and collective bargaining agreements, employment agreements, severance arrangements, compensatory (including profit sharing) arrangements, stock option plans, benefit plan, health, disability or similar insurance plan and other similar
arrangements with such employees, officers, directors, managers, members of management, consultants or independent contractors (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the
foregoing) and (2) any subscription agreement or similar agreement pertaining to the repurchase of Capital Stock pursuant to put/call rights or similar rights with future, present or former employees, officers, directors, members of management,
consultants or independent contractors and (3) any issuance, sale or grant of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of employment arrangements, stock options and stock
ownership plans approved by the Board of Directors (or equivalent governing body) of any direct or indirect parent company or of the Company or any Restricted Subsidiary; 

(xii) the Transactions and the payment of all fees and expenses related to the Transactions, including the Transaction Expenses and to satisfy
any payment obligations under the Transaction Agreement after the Closing Date; 
 (xiii) any transaction effected as part of a Receivables
Facility; 
 (xiv) any contribution to the capital of the Company or any Restricted Subsidiary; 

(xv) transactions permitted by, and complying with, the provisions of Section 10.4 solely for the purpose of (1) reorganizing to
facilitate any initial public offering of securities of the Company or any direct or indirect parent company of the Company, (2) forming a holding company, or (3) reincorporating the Company in a new jurisdiction; 

(xvi) between the Company or any Restricted Subsidiary and any Person, a director of which is also a director of the Company or any direct or
indirect parent of the Company; provided, however, that such director abstains from voting as a director of the Company or such direct or indirect parent, as the case may be, on any matter involving such other Person; 

  
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 (xvii) the issuance of securities or other payments, awards or grants in cash, securities or
otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Company or any direct or indirect parent company of the Company or
a Subsidiary of the Company, as appropriate, in good faith; 
 (xviii) transactions undertaken in good faith (as certified by a responsible
financial or accounting officer of the Company in an Officer’s Certificate) for the purposes of improving the consolidated tax efficiency of the Company and its Subsidiaries and not for the purpose of circumventing any covenant set forth in
this Agreement; 
 (xix) payments by the Company and its Restricted Subsidiaries pursuant to tax sharing, tax distribution or similar
arrangements among any direct or indirect parent of the Company and its Subsidiaries on customary terms; 
 (xx) investments by the
Investors in securities of the Company or any Restricted Subsidiary (and payment of reasonable out-of-pocket expenses incurred by such Investors in connection therewith)
so long as the investment is being generally offered to other investors on the same or more favorable terms; 
 (xxi) any transaction with a
Person (other than an Unrestricted Subsidiary) which would constitute an Affiliate Transaction solely because the Company or a Restricted Subsidiary owns an Equity Interest in or otherwise controls such Person; 

(xxii) pledges of Equity Interests of Unrestricted Subsidiaries; 

(xxiii) transactions with joint ventures for the purchase or sale of goods, equipment and services entered into in the ordinary course of
business; and 
 (xxiv) the payment of reasonable
out-of-pocket costs and expenses related to registration rights and customary indemnities provided to shareholders under any shareholder agreement. 

10.6. Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. 

The Company shall not, and shall not permit any of its Restricted Subsidiaries, directly or indirectly, to create or otherwise
cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any such Restricted Subsidiary to: 

(a) pay dividends or make any other distributions to the Company or any of its Restricted Subsidiaries on its Capital Stock or
with respect to any other interest or participation in, or measured by, its profits; or 
 (b) pay any Indebtedness owed to
the Company or any of its Restricted Subsidiaries; 
 (c) make loans or advances to the Company or any Guarantor; or 

  
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 (d) sell, lease or transfer any of its properties or assets to the Company or any
Guarantor, except (in each case) for such encumbrances or restrictions existing under or by reason of: 
 (i) contractual encumbrances or
restrictions in effect on the Closing Date, including pursuant to the Senior Credit Facilities, the Secured Notes, the Existing Senior Notes and the related documentation; 

(ii) this Agreement, the Notes and the related Guarantees; 

(iii) purchase money obligations for property acquired and Capitalized Lease Obligations in the ordinary course of business that impose
restrictions of the nature discussed in clause (c) above on the property or assets so acquired; 
 (iv) applicable law or any
applicable rule, regulation or order or the terms of any license, authorization, concession or permit provided by any Governmental Authority; 

(v) any agreement or other instrument of a Person acquired (or assumed in connection with the acquisition of property) by the Company or any
of its Restricted Subsidiaries in existence at the time of such acquisition (but not created in contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the
Person so acquired and its Subsidiaries, or the property or assets of the Person so acquired and its Subsidiaries; 
 (vi) contracts or
agreements for the sale of assets, including any restrictions with respect to a Subsidiary of the Company pursuant to an agreement that has been entered into for the sale or disposition of all or substantially all of the Capital Stock or assets of
such Subsidiary; 
 (vii) Secured Indebtedness otherwise permitted to be incurred pursuant to Sections 10.2 and 10.3 that apply solely to
the assets securing such Indebtedness and/or the Restricted Subsidiaries incurring or guaranteeing such Indebtedness; 
 (viii) restrictions
on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; 
 (ix) other
Indebtedness, Disqualified Stock or Preferred Stock of non-Guarantor Subsidiaries of the Company permitted to be incurred or issued subsequent to the Closing Date pursuant to the provisions of
Section 10.2; 
 (x) customary provisions in any partnership agreement, limited liability company organizational governance document,
joint venture agreement and other similar agreement entered into in the ordinary course of business; 
 (xi) customary provisions contained
in leases, subleases, licenses or sublicenses, Equity Interests or asset sale agreements and other similar agreements, in each case, entered into in the ordinary course of business; 

  
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 (xii) any other agreement governing Indebtedness entered into after the Closing Date if
(1) such encumbrances and other restrictions are, in the good faith judgment of the Company, no more restrictive in any material respect taken as a whole with respect to the Company or any Restricted Subsidiary than (x) the restrictions
contained in this Agreement as of the Closing Date or (y) those encumbrances and other restrictions that are in effect on the Closing Date with respect to that Restricted Subsidiary or the Company, as applicable pursuant to agreements in effect
on the Closing Date, or (2) any such encumbrance or restriction contained in such Indebtedness does not prohibit (except upon a default or an event of default thereunder) the payment of dividends in an amount sufficient, as determined by the
Board of Directors of the Company in good faith, to make scheduled payments of cash interest on the Notes when due; 
 (xiii) customary
provisions restricting assignment of any agreement entered into in the ordinary course of business; 
 (xiv) other Indebtedness,
Disqualified Stock or Preferred Stock of any Restricted Subsidiary that is a Guarantor, provided that such Indebtedness, Disqualified Stock or Preferred Stock is permitted to be incurred subsequent to the Closing Date under Section 10.2
and either (1) the provisions relating to such encumbrance or restriction contained in such Indebtedness are no less favorable to the Company, taken as a whole, as determined by the Company in good faith, than the provisions contained in the
Senior Credit Facilities as in effect on the Closing Date or (2) any such encumbrance or restriction contained in such Indebtedness does not prohibit (except upon a default or an event of default thereunder) the payment of dividends in an
amount sufficient, as determined by the Company in good faith, to make scheduled payments of cash interest on the Notes when due; 
 (xv)
customary restrictions and conditions contained in any agreement relating to the sale, transfer, lease or other disposition of any asset permitted under Section 10.7 pending the consummation of such sale, transfer, lease or other disposition;

 (xvi) customary restrictions and conditions contained in the document relating to any Lien so long as (1) such Lien is a Permitted
Lien and such restrictions or conditions relate only to the specific asset subject to such Lien and (2) such restrictions and conditions are not created for the purpose of avoiding the restrictions imposed by this clause (xvi); 

(xvii) restrictions created in connection with any Receivables Facility that in the good faith determination of the Company are necessary or
advisable to effect such Receivables Facility; 
 (xviii) customary net worth or similar provisions contained in real property leases
entered into by the Company or any Subsidiary so long as the Company or such Subsidiary has determined in good faith that such net worth or similar provisions would not reasonably be expected to impair the ability of the Company or such Subsidiary
to meet its ongoing obligations; 
 (xix) any encumbrance or restriction with respect to a Restricted Subsidiary that was previously an
Unrestricted Subsidiary which encumbrance or restriction exists pursuant to or by reason of an agreement that such Subsidiary is a party to or entered into before the date on which such Subsidiary became a Restricted Subsidiary; provided,
such agreement was not entered into in anticipation of an Unrestricted Subsidiary becoming a Restricted Subsidiary and any such encumbrance or restriction does not extend to any assets or property of the Company or any other Restricted Subsidiary
other than the assets and property of such Subsidiary; 

  
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 (xx) restrictions contained in any agreement with respect to any NMTC Transaction to the extent
such restrictions apply only to the assets covered by or entities involved in such NMTC Transaction; and 
 (xxi) any encumbrances or
restrictions of the type referred to in Sections 10.6(a), (b) and (c) imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or
obligations referred to in clauses (i) through (xviii) above; provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the
Company, no more restrictive in any material respect with respect to such encumbrances and other restrictions taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or
refinancing. 
 For purposes of determining compliance with this Section 10.6, (1) the priority of any Preferred Stock
in receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (2) the subordination of
loans or advances made to the Company or a Restricted Subsidiary to other Indebtedness incurred by the Company or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. 

 

	 	10.7.	Asset Sales. 

 (a) The Company shall not, and shall not permit any of its
Restricted Subsidiaries to, consummate an Asset Sale, unless: 
 (i) the Company or such Restricted Subsidiary, as the case may be, receives
consideration (including by way of relief from, or by any other Person assuming responsibility for, any liabilities, contingent or otherwise, in connection with such Asset Sale) at the time of such Asset Sale at least equal to the fair market value
as determined in good faith by the Company (such fair market value to be determined on the date of contractually agreeing to such Asset Sale) of the assets sold or otherwise disposed of; and 

(ii) except in the case of a Permitted Asset Swap, at least 75% of the consideration received therefor by the Company or such Restricted
Subsidiary, as the case may be, is in the form of Cash Equivalents; provided that the amount of: 
 (1) any liabilities (as
shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet or in the footnotes thereto, or if incurred or accrued subsequent to the date of such balance sheet, such liabilities that would have been reflected on the
Company’s or such Restricted Subsidiary’s balance sheet or in the footnotes thereto if such incurrence or accrual had taken place on or prior to the date of such balance sheet, as determined in good faith by the Company) of the Company or
such Restricted Subsidiary, other than liabilities that are by their terms subordinated to the Notes or the Guarantees, that are assumed by the transferee of any such assets or that are otherwise cancelled or terminated in connection with the
transaction with such transferee and for which the Company and all of its Restricted Subsidiaries have been validly released by all creditors in writing, 

  
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 (2) any securities, notes or other obligations or assets received by the Company
or such Restricted Subsidiary from such transferee (including earnouts or similar obligations) that are converted by the Company or such Restricted Subsidiary into Cash Equivalents, or by their terms are required to be satisfied for Cash Equivalents
(to the extent of the Cash Equivalents received) within 180 days following the closing of such Asset Sale, 
 (3)
Indebtedness of any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such Asset Sale, to the extent that the Company and each other Restricted Subsidiary are released from any guarantee of payment of such Indebtedness
in connection with the Asset Sale, and 
 (4) any Designated Non-cash Consideration
received by the Company or such Restricted Subsidiary in such Asset Sale having an aggregate fair market value, taken together with all other Designated Non-cash Consideration received pursuant to this clause
(4) that is at that time outstanding, not to exceed the greater of (x) $80.0 million and (y) 2.0% of Consolidated Total Assets at the time of the receipt of such Designated Non-cash Consideration
(or, at the Company’s option, at the time of contractually agreeing to such Asset Sale), with the fair market value of each item of Designated Non-cash Consideration being measured at the time received
and without giving effect to subsequent changes in value, shall be deemed to be Cash Equivalents for purposes of this Section 10.7(a)(ii) and for no other purpose. 

(b) Within 365 days after the receipt of any Net Proceeds of any Asset Sale, the Company or such Restricted Subsidiary, at its
option, may apply the Net Proceeds from such Asset Sale, 
 (i) to repay: 

 

	 	(A)	Obligations under the Senior Credit Facilities and if the Indebtedness repaid is revolving credit indebtedness, to correspondingly reduce commitments with respect thereto; 

 

	 	(B)	Obligations under Indebtedness (other than Subordinated Indebtedness) that is secured by a Lien, which Lien is permitted by this Agreement, and if the Indebtedness repaid is revolving credit indebtedness, to
correspondingly reduce commitments with respect thereto; 

  

	 	(C)	 Obligations under other Indebtedness (other than Subordinated Indebtedness) of the Company or any Restricted
Subsidiary (and if the Indebtedness repaid is revolving credit indebtedness, to correspondingly reduce commitments with respect thereto), provided that the Company shall equally and ratably reduce

  
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Obligations under the Notes as provided under Section 8.2, through open-market purchases (to the extent such purchases are at or above 100% of the principal amount thereof or, if less, the
accreted value thereof) or by making an offer (in accordance with the procedures set forth in Section 8.4 for an Asset Sale Offer) to all holders to purchase their Notes at 100% of the principal amount thereof or, if less, the accreted value
thereof, plus the amount of accrued but unpaid interest, if any, on the amount of Notes that would otherwise be prepaid; or 

  

	 	(D)	Indebtedness of a Restricted Subsidiary that is not a Guarantor, other than Indebtedness owed to the Company or another Restricted Subsidiary; 

provided, that in the case of clause (C) above, (i) if an offer to purchase the Notes is made, such amount will be deemed repaid to the extent of
the amount of such offer, whether or not accepted by the holders of the Notes, and no Net Proceeds in the amount of such offer will be deemed to exist following such offer; 

(ii) to make (1) an Investment in any one or more businesses, provided that such Investment in any business is in the form of the
acquisition of Capital Stock and results in the Company or any of its Restricted Subsidiaries, as the case may be, owning an amount of the Capital Stock of such business such that it constitutes a Restricted Subsidiary, (2) capital expenditures
or (3) acquisitions of other properties or assets, in the case of each of (1), (2) and (3), used or useful in a Similar Business; 

(iii) to make an Investment in (1) any one or more businesses, provided that such Investment in any business is in the form of the
acquisition of Capital Stock and results in the Company or any of its Restricted Subsidiaries, as the case may be, owning an amount of the Capital Stock of such business such that it constitutes a Restricted Subsidiary, (2) properties or
(3) other assets that, in the case of each of (1), (2) and (3), replace the businesses, properties and/or other assets that are the subject of such Asset Sale; or 

(iv) any combination of the foregoing; 

provided that, in the case of clauses (ii) and (iii) above, a binding commitment shall be treated as a permitted application of
the Net Proceeds from the date of such commitment so long as the Company or such other Restricted Subsidiary enters into such commitment with the good faith expectation that such Net Proceeds will be applied to satisfy such commitment within 180
days of such commitment (an “Acceptable Commitment”) and, in the event any Acceptable Commitment is later cancelled or terminated for any reason before the Net Proceeds are applied in connection therewith, the Company or such Restricted
Subsidiary enters into another Acceptable Commitment (a “Second Commitment”) within 180 days of such cancellation or termination (or, if later, 365 days after the receipt of such Net Proceeds); provided further that if any Second
Commitment is later cancelled or terminated for any reason before such Net Proceeds are applied, then such Net Proceeds shall constitute Excess Proceeds (as defined below). 

  
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 Notwithstanding the foregoing, to the extent that any or all of the Net Proceeds
of any Asset Sales by a Foreign Subsidiary (a “Foreign Disposition”) is prohibited or delayed by applicable local law from being repatriated to the United States, the portion of such Net Proceeds so affected will not be required to be
applied in compliance with this Section 10.7, and such amounts may be retained by the applicable Foreign Subsidiary so long, but only so long, as the applicable local law will not permit repatriation to the United States (the Company hereby
agreeing to use reasonable efforts to cause the applicable Foreign Subsidiary to take all actions reasonably required by the applicable local law, applicable organizational impediments or other impediment to permit such repatriation), and if such
repatriation of any of such affected Net Proceeds is permitted under the applicable local law, such repatriation will be promptly effected and such repatriated Net Proceeds will be applied (whether or not repatriation actually occurs) in compliance
with this covenant. 
 To the extent that the aggregate amount of Notes and such Pari Passu Indebtedness tendered
pursuant to an Asset Sale Offer under Section 8.4 is less than the Excess Proceeds (or in the case of an Advance Offer, the Advance Portion), the Company may use any remaining Excess Proceeds for general corporate purposes, subject to
compliance with other covenants contained in this Agreement. If the aggregate principal amount of Notes and the Pari Passu Indebtedness surrendered in an Asset Sale Offer exceeds the amount of Excess Proceeds. Selection of such Pari
Passu Indebtedness will be made pursuant to the terms of such Pari Passu Indebtedness. Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds shall be reset to zero (regardless of whether there are any remaining
Excess Proceeds upon such completion). 
 Pending the final application of any Net Proceeds pursuant to this
Section 10.7, the holder of such Net Proceeds may apply such Net Proceeds temporarily to reduce Indebtedness outstanding under a revolving credit facility or otherwise invest such Net Proceeds in any manner not prohibited by this Agreement.

 The Company will comply with the requirements of Rule 14e-1 under the Exchange Act
and any other securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws
or regulations conflict with the provisions of this Agreement, the Company will comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Agreement by virtue thereof. 

 

	 	10.8.	Nature of Business. 

 From and after the Closing Date, the Company shall
not, nor shall it permit any of its Restricted Subsidiaries to, engage in any material line of business other than the businesses engaged in by the Company or any Restricted Subsidiary on the Closing Date and similar, complementary, ancillary or
related businesses. 

  
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	 	10.9.	No Layering of Debt. 

 The Company will not incur, create, issue, assume,
guarantee or otherwise become liable for any Indebtedness that is junior in right of security or payment (including without limitation by way of a junior lien, “second out” lien, second out payment priority, payment waterfall or similar
provision) to the Senior Credit Facilities, the Secured Notes, the Existing Notes or any other Indebtedness of the Company or any of its Restricted Subsidiaries and senior in right of security or payment to the Notes (including without limitation as
a result of being secured by liens on any assets or being guaranteed by any Person not guaranteeing the Notes), except with respect to any assets covered by or entities involving any NMTC Transaction. 

 

	 	10.10.	Limited Condition Acquisition. 

 At the option of the Company, using the
date that the definitive agreement for such acquisition or similar Investment or repayment, repurchase or refinancing of Indebtedness is entered into (the “Transaction Agreement Date”) may be used as the applicable date of determination,
as the case may be, in each case with such pro forma adjustments as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio” or “EBITDA.” For the
avoidance of doubt, if the Company elects to use the Transaction Agreement Date as the applicable date of determination in accordance with the foregoing, (a) any fluctuation or change in the Fixed Charge Coverage Ratio, Consolidated Total
Leverage Ratio, Consolidated First Lien Debt Ratio, Consolidated Secured Debt Ratio, Net Income, Consolidated Net Income or EBITDA of the Company, the target business or assets to be acquired subsequent to the Transaction Agreement Date and at or
prior to the consummation of such acquisition or similar Investment or repayment, repurchase or refinancing of Indebtedness, will not be taken into account for purposes of determining whether any Indebtedness or Lien that is being incurred in
connection with such acquisition or similar Investment or repayment, repurchase or refinancing of Indebtedness is permitted to be incurred or in connection with compliance by the Company or any of the Restricted Subsidiaries with any other provision
of this Agreement or any other transaction undertaken in connection with such acquisition or similar Investment or repayment, repurchase or refinancing of Indebtedness and (b) until such acquisition or similar Investment or repayment,
repurchase or refinancing of Indebtedness is consummated or such definitive agreements are terminated, such acquisition or similar Investment or repayment, repurchase or refinancing of Indebtedness and all transactions proposed to be undertaken in
connection therewith (including the incurrence of Indebtedness and Liens) will be given pro forma effect when determining compliance of other transactions (including the incurrence of Indebtedness and Liens unrelated to such acquisition or similar
Investment or repayment, repurchase or refinancing of Indebtedness) that are consummated after the Transaction Agreement Date and on or prior to the consummation of such acquisition or similar Investment or repayment, repurchase or refinancing of
Indebtedness and any such transactions (including any incurrence of Indebtedness and the use of proceeds thereof) will be deemed to have occurred on the date the definitive agreements are entered and outstanding thereafter for purposes of
calculating any baskets or ratios under this Agreement after the date of such agreement and before the consummation of such acquisition or similar Investment or repayment, repurchase or refinancing of Indebtedness; provided that in connection with
the making of Restricted Payments, the calculation of Consolidated Net Income (and any defined term a component of which is Consolidated Net Income) will not, in any case, assume such 

  
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acquisition or similar Investment has been consummated. In addition, compliance with any requirement in this Agreement relating to absence of Default or Event of Default may be determined as of
the Transaction Agreement Date and not as of any later date as would otherwise be required under this Agreement. In the event an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) is incurred or issued, any Lien is
incurred or other transaction is undertaken on the same date that any other item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) is incurred or issued, any other Lien is incurred or other transaction is undertaken,
then the Fixed Charge Coverage Ratio, Consolidated Total Leverage Ratio, Consolidated First Lien Debt Ratio and Consolidated Secured Debt Ratio will be calculated with respect to such incurrence, issuance or other transaction without regard to any
other incurrence, issuance or transaction. Each item of Indebtedness, Disqualified Stock or Preferred Stock that is incurred or issued, each Lien incurred and each other transaction undertaken will be deemed to have been incurred, issued or taken
first, to the extent available, pursuant to the relevant Fixed Charge Coverage Ratio, Consolidated Total Leverage Ratio, Consolidated First Lien Ratio and Consolidated Secured Debt Ratio. 

 

	 	11.	EVENTS OF DEFAULT. 

 An “Event of Default” shall exist if any
of the following conditions or events shall occur and be continuing: 
 (a) default in payment when due and payable, upon
redemption, acceleration or otherwise, of principal of, Make-Whole Amount, if any, or other premium, if any, on the Notes; 

(b) default for more than 30 days in the payment when due of interest or Breakage Amount, if any, on or with respect to the
Notes; 
 (c) failure by the Company for 120 days after receipt of written notice given by the Agent at the direction of the
Required Holders to comply with any of its obligations, covenants or agreements described in Section 7; 
 (d) failure
by the Company or any Guarantor for 60 days after the Company’s receipt of written notice given by the Agent at the direction of the Required Holders to comply with any of its obligations, covenants or agreements (other than a default referred
to in clauses (a), (b) or (c) of this Section 11) contained in this Agreement or the Notes; 
 (e) default under
any mortgage, indenture or instrument under which there is issued or by which there is secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries or the payment of which is guaranteed by the Company
or any of its Restricted Subsidiaries, other than Indebtedness owed to the Company or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists or is created after the issuance of the Notes, if both: 

(i) such default either results from the failure to pay any principal of such Indebtedness beyond the applicable grace period, if any, whether
by scheduled maturity, required prepayment, acceleration, demand or otherwise, or relates to an obligation other than the obligation to pay principal of any such Indebtedness at its stated final maturity or otherwise and results in the holder or
holders of such Indebtedness causing such Indebtedness to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise) prior to its stated maturity; and 

  
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 (ii) the principal amount of such Indebtedness, together with the principal amount of any other
such indebtedness in default for failure to pay any principal beyond the applicable grace period, if any, whether by scheduled maturity, required prepayment, acceleration, demand or otherwise, or the maturity of which has been so accelerated,
aggregate $70.0 million or more at any one time outstanding; 
 (f) failure by the Company or any Significant
Subsidiary, or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, to pay final judgments aggregating in excess of
$70.0 million, which final judgments remain unpaid, undischarged, unwaived and unstayed for a period of more than 90 days after such judgment becomes final, and in the event such judgment is covered by insurance, an enforcement proceeding has
been commenced by any creditor upon such judgment or decree which is not promptly stayed; 
 (g) the Guarantee of any
Significant Subsidiary, or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, shall for any reason cease to be in full
force and effect or any responsible officer of any Guarantor that is a Significant Subsidiary, or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would
constitute a Significant Subsidiary, as the case may be, denies that it has any further liability under its or their Guarantee(s) or gives notice to such effect, other than by reason of the termination of this Agreement or the release of any such
Guarantee in accordance with this Agreement; 
 (h) any representation or warranty made in writing by or on behalf of the
Company or any Guarantor or by any officer of the Company or any Guarantor in this Agreement or the Guarantee or in any writing furnished in connection with the transactions contemplated hereby proves to have been false or incorrect in any material
respect on the date as of which made; 
 (i) the Company or any of its Restricted Subsidiaries that is a Significant
Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law:

 (i) commences a voluntary case; 

(ii) consents to the entry of an order for relief against it in an involuntary case; 

(iii) consents to the appointment of a custodian of it or for all or substantially all of its property; or 

(iv) makes a general assignment for the benefit of its creditors; 

  
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 (j) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
 (i) is for relief against the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any
group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary, in a proceeding in which the Company or any such Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that,
taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, is to be adjudicated bankrupt or insolvent; 

(ii) appoints a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or any of its Restricted
Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, or for all or
substantially all of the property of the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the
Company), would constitute a Significant Subsidiary; or 
 (iii) orders the liquidation of the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary; 

and the order or decree remains unstayed and in effect for 90 consecutive days; 

(k) The occurrence of one or more ERISA Events, which individually or in the aggregate result in liability of Holdings, the
Company or any of its Restricted Subsidiaries in an aggregate amount which would reasonably be expected to result in a Material Adverse Effect; or 

(l) any of the Note Documents ceases to be in full force and effect (except, as to the release of any Guarantee, as provided in
Section 1.2(b)) for any reason, including by reason of (A) its being declared to be null and void in whole or in material part by a court or other governmental or regulatory authority having jurisdiction or (B) the validity or
enforceability thereof being contested by any of the Company or any Subsidiary Guarantor or any of them renouncing any of the same or denying that it has any or further liability under any Note Document to which it is a party. 

 

	 	12.	REMEDIES ON DEFAULT, ETC. 

  

	 	12.1.	Acceleration. 

 (a) If an Event of Default with respect to the Company
described in Section 11(i) or (j) has occurred, all the Notes then outstanding shall automatically become immediately due and payable, at the price calculated as of the acceleration date in accordance with Section 8.2(c). 

  
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 (b) If any Event of Default (other than of a type specified in Sections 11(i) or
(j)) with respect to the Company) occurs and is continuing under this Agreement, the Required Holders by notice to the Company (with a copy to the Agent) may declare the principal, premium, if any, interest and any other monetary obligations on all
the then outstanding Notes to be due and payable immediately, at the price calculated as of the acceleration date in accordance with Section 8.2(c). 

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will
forthwith mature and the entire unpaid principal amount of such Notes, plus (w) all accrued and unpaid interest thereon (including interest accrued thereon at the Default Rate, if any) and any Breakage Amount, if any, and (x) any
applicable Make-Whole Amount or other premium determined in respect of such principal amount in accordance with Section 8.2(c) (to the full extent permitted by applicable law), shall all be immediately due and payable, in each and every case without
presentment, demand, protest or further notice, all of which are hereby waived. The Company acknowledges, and the parties hereto agree, that each holder of a Note has the right to maintain its investment in the Notes free from repayment by the
Company (except as herein specifically provided for) and that the provision for payment of a Make-Whole Amount or other premium by the Company in the event that the Notes are prepaid or are accelerated as a result of an Event of Default (including
an Event of Default arising under Sections 11(i) or (j)), is intended to provide compensation for the deprivation of such right under such circumstances. 
  

	 	12.2.	Other Remedies. 

 If any Default or Event of Default has occurred and is
continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by
an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in any Note, or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the
exercise of any power granted hereby or thereby or by law or otherwise. 
  

	 	12.3.	Rescission. 

 At any time after any Notes have been declared due and
payable pursuant to Section 12.1(b), the Required Holders by written notice to the Company (with a copy to the Agent), may rescind and annul any such declaration and its consequences if (a) the Company has paid all overdue interest on the
Notes, all principal of and any Make-Whole Amount, any Breakage Amount, if any, or other premium on any Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on such overdue principal and any
Make-Whole Amount, any Breakage Amount, if any, or other premium and (to the extent permitted by applicable law) any overdue interest in respect of the Notes, at the Default Rate, (b) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Section 17, and (c) no judgment or decree has been entered for the payment
of any monies due pursuant hereto or to the Notes. No rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon. 

  
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	 	12.4.	No Waivers or Election of Remedies, Expenses, etc. 

 No course of dealing
and no delay on the part of any holder of any Note or the Agent in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s or the Agent’s rights, powers or remedies. No right, power or
remedy conferred by this Agreement or by any Note or the Guarantee upon any holder thereof shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise.

  

	 	13.	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES. 

  

	 	13.1.	Registration of Notes. 

 The Company shall keep at its principal
executive office at the address set forth at the beginning hereof, or such other address or agency as the Company shall have specified to the holder of each Note in writing, a register for the registration and registration of transfers of Notes. The
name and address of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such register. Prior to due presentment for registration of transfer, the Person in
whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and the Company and Agent shall not be affected by any notice or knowledge to the contrary. Promptly following the Closing
Date and each subsequent change to the register and on the fifth Business Day prior to each date on which a payment is made to the holders, the Company shall provide a copy of the register to the Agent. The Company shall give to any holder of a Note
that is an Institutional Accredited Investor or the Agent, promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes. The Agent may conclusively rely upon the last delivered copy of the
register. 
  

	 	13.2.	Transfer and Exchange of Notes. 

 Upon surrender of any Note at the
principal executive office of the Company or other designated agency for registration of transfer or exchange (and in the case of a surrender for registration of transfer, duly endorsed or accompanied by a written instrument of transfer duly
executed by the registered holder of such Note or his attorney duly authorized in writing and accompanied by the address for notices of each transferee of such Note or part thereof), the Company shall execute and deliver within five Business Days
(subject to the last sentence of this paragraph), at the Company’ expense (except as provided below), one or more new Notes (as requested by the holder thereof) of the same series in exchange therefor, in an aggregate principal amount equal to
the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Note specified for the Notes of such series and tranche, if any. Each such
new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum
sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than $100,000, provided that if necessary to enable the registration of transfer by a
holder of its entire holding of Notes, one Note may be in a 

  
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denomination of less than $100,000. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representations and
warranties set forth in Section 6 and all other agreements and assumptions of obligations of a holder under this Agreement, including without limitation Article 24. The Company shall not effect any transfer within five Business Days of any date
on which payments are to be paid to the holders. 
 Holders of the Notes may only transfer the Notes to Eligible Assignees.
Upon any transfer, the Company shall require from such holder any administrative information and tax forms required by the Agent and promptly forward the same to the Agent upon receipt by such holder. 

 

	 	13.3.	Replacement of Notes. 

 Upon receipt by the Company of evidence
reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note, and 
 (a) in
the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Company (provided that if the holder of such Note is, or is a nominee for, an original Purchaser or another Institutional Accredited Investor holder of a Note with a
minimum net worth of at least $50.0 million, such Person’s own unsecured agreement of indemnity shall be deemed to be satisfactory), or 

(b) in the case of mutilation, upon surrender and cancellation thereof, the Company at the holder’s expense (including,
without limitation, attorney’s fees and disbursements in replacing such Note) shall execute and deliver within five Business Days, in lieu thereof, a new Note of the same series and tranche, dated and bearing interest from the date to which
interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon. 

 

	 	14.	PAYMENTS ON NOTES. 

  

	 	14.1.	Place of Payment. 

 Subject to Section 14.2, payments of principal,
Make-Whole Amount, if any, any premium, if any, any Breakage Amount, if any, and interest becoming due and payable on the Notes shall be made by 12:00p.m. noon on the due date by the Company in immediately available funds to the Agent for payment to
the holders at the wire instructions provided to the Company and the Agent in writing. 
  

	 	14.2.	Home Office Payment. 

 So long as you or your nominee shall be the holder
of any Note, and notwithstanding anything contained in Section 14.1 or in such Note to the contrary, the Agent, to the extent it has received such funds from the Company, will pay all sums becoming due on such Note for principal, Make-Whole
Amount, if any, any premium, if any, Breakage Amount, if any, and interest by the method and at the wire instructions provided to the Company and the Agent in writing or by such other method as you shall have from time to time specified to the
Company 

  
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and the Agent in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Company made
concurrently with or reasonably promptly after payment or prepayment in full of any Note, you shall surrender such Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office or at the place of
payment most recently designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of any Note held by you or your nominee such Person will, at its election, either endorse thereon the amount of principal paid
thereon and the last date to which interest has been paid thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section 13.2. The Company will afford the benefits of this Section 14.2 to any
Institutional Accredited Investor that is the direct or indirect transferee of any Note purchased by you under this Agreement and that has made the same agreement relating to such Note as you have made in this Section 14.2. 

 

	 	14.3.	Payments Generally. 

 The Agent shall remit all payments received by the
Agent on account of amounts owed to any holder promptly to such holder; provided, that in the event any payment owed by the Company is made in part (or recovered from any other Person in part) and not in whole, the amount received by the Agent shall
be ratably distributed to each holder to which a portion of such payment is owed based on the percentage that the Aggregate Amount Due to such holder constitutes of the Aggregate Amounts Due collectively to all holders to which a portion of such
payment is owed. If the Agent collects any money or other property distributable in respect of the Company’s obligations under the Note Documents, it shall pay out the money or property in the following order: first, to the Agent (including any
predecessor Agent), in payment for amounts due to the Agent under Section 15.1 or Section 23.8; second, to the holders for all amounts due and unpaid under the Note Documents (whether in the form of principal, Make-Whole, if any, premium,
if any, Breakage Costs, if any, interest, fees, amounts due in accordance with Section 15.1 or 23.8 or otherwise), ratably, without preference or priority of any kind, according to the amounts due and payable to each such holder; and third, to
the Company. 
  

	 	14.4.	Ratable Sharing. 

 The holders hereby agree among themselves that if any
of them shall receive (whether by exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Note Documents or otherwise), receive
payment or reduction of a proportion of the aggregate amount of principal, interest, fees and other amounts then due and owing to that holder hereunder or under the other Note Documents (collectively, the “Aggregate Amounts Due” to such
holder) that is greater than the proportion received by any other holder in respect of the Aggregate Amounts Due to such other holder, then the holder receiving such proportionately greater payment shall, unless such proportionately greater payment
is required by the terms of this Agreement, (i) notify the Agent of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment
simultaneously upon the receipt by such seller of its portion of such payment) of the Aggregate Amounts Due to the other holders so that all such recoveries of Aggregate Amounts Due shall be shared by all holders in proportion to the Aggregate
Amounts Due to them; provided that (A) if all or part of such proportionately greater payment received by such purchasing holder is thereafter recovered from such holder 

  
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upon the bankruptcy or reorganization of the Company or its Subsidiaries or otherwise, those purchases shall be rescinded and the purchase prices paid for such assignments shall be returned to
such purchasing holder ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by the Company or any Guarantor pursuant to and in accordance with the express
terms of the Note Documents or (2) any payment obtained by a holder as consideration for the assignment or transfer (other than an assignment or transfer pursuant to this Section 14.4) of its Note pursuant to Section 13.2. The Company
expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may exercise any and all rights of a holder as to such assignment as fully as if that holder had complied with the provisions of
Section 13.2 with respect to such assignment. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each purchasing holder and each selling holder agree to comply
with the provisions of Section 13.2 at the request of a selling holder or a purchasing holder. 
  

	 	15.	EXPENSES, ETC. 

  

	 	15.1.	Transaction Expenses. 

 In the case of GSO Capital Partners LP, the Agent
and each Other Purchaser’s initial costs and expenses in connection with the preparation of this Agreement and the other Note Documents, whether or not the transactions contemplated hereby are consummated, the Company will pay all reasonable
and documented out-of-pocket costs and expenses (including reasonable and documented attorneys’ fees of Willkie Farr & Gallagher LLP but limited to a
single law firm to all Purchasers taken as a whole and, if reasonably required, local or other counsel in any material jurisdiction, and the reasonable and documented attorneys’ fees of Alston & Bird LLP) incurred by you and each Other
Purchaser or holder of a Note in connection with such transactions, with any amendments, waivers or consents under or in respect of this Agreement or the Notes (whether or not such amendment, waiver or consent becomes effective), including:
(a) the reasonable costs and expenses incurred in enforcing or defending (or determining whether or how to enforce or defend) any rights under this Agreement or the Notes, or in responding to any subpoena or other legal process or informal
investigative demand issued in connection with this Agreement or the Notes, or by reason of being a holder of any Note and (b) the reasonable and documented
out-of-pocket costs and expenses, including financial advisors’ fees, incurred in connection with the insolvency or bankruptcy of the Company or any Subsidiary or
in connection with any work-out or restructuring of the transactions contemplated hereby and by the Notes but limited, in the case of legal fees and expenses, to one counsel to such holders taken as a whole
and, if reasonably necessary, of one local counsel in any relevant jurisdiction to all such Persons, taken as a whole and solely in the case of any actual or perceived conflict of interest, (x) one additional counsel to all affected parties and
(y) one additional local counsel in each relevant jurisdiction for all affected parties. The Company will pay, and will save you and each other holder of a Note and the Agent harmless from, all claims in respect of any fees, costs or expenses
if any, of brokers and finders (other than those retained by you). The Company will pay the fees of the Agent as agreed to in a separate fee letter. 

  
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	 	15.2.	Survival. 

 The obligations of the Company under this Section 15
will survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement or the Notes, the earlier resignation or removal of the Agent and the termination of this Agreement. 

 

	 	16.	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT. 

 All
representations and warranties contained herein shall survive the execution and delivery of this Agreement and the Notes, the purchase or transfer by you of any Note or portion thereof or interest therein and the payment of any Note through the
payment or prepayment in full thereof, and may be relied upon by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of you or any other holder of a Note. All statements contained in any certificate or
other instrument delivered by or on behalf of the Company pursuant to this Agreement shall be deemed representations and warranties of the Company under this Agreement. Subject to the preceding sentence, this Agreement, the Notes and any Subsidiary
Guarantees embody the entire agreement and understanding between you and the Company and supersede all prior agreements and understandings relating to the subject matter hereof. 

 

	 	17.	AMENDMENT AND WAIVER. 

  

	 	17.1.	Requirements. 

 This Agreement, the Notes and the Guarantee may be
amended, and the observance of any term hereof, of the Guarantee or of the Notes may be waived (either retroactively or prospectively), with (and only with) the written consent of the Company (and the Guarantors, in the case of the Guarantee) and
the Required Holders, except that: 
 (a) no such amendment or waiver may, without the written consent of the holder of each
Note at the time outstanding adversely affected thereby, (i) subject to the provisions of Section 12 relating to acceleration or rescission, reduce the amount or postpone the time of any prepayment or payment of principal of, or fees on,
or reduce the rate (other than via a waiver of the imposition of the Default Rate with respect to amounts not yet accrued, which may be made by the Required Holders) or postpone the time of payment or change the method of computation of interest or
of the Make-Whole Amount or other premium on, the Notes or (ii) modify the provisions of Sections 8.4(c), 8.5, 8.7, 14.3, 14.4, 17.2(b) or any other provision requiring the pro rata treatment of the holders of the Note; provided, further, that
so long as the KKR Entities hold no less than 20% of the aggregate outstanding amount of the Notes, the written consent of the KKR Entities shall be required to make any modification described in this clause (a)(ii); 

(b) no such amendment or waiver may, without the written consent of each holder, (i) change the percentage of the
principal amount of the Notes the holders of which are required to consent to any amendment or waiver, (ii) release all or substantially all of the Guarantors from their obligations under the Subsidiary Guarantees or (iii) amend the
definition of Required Holders or Administrative Holders; 

  
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 provided, that, if holders of at least 90% of the outstanding principal amount of the Notes have
approved any such amendment or waiver in accordance with the foregoing Sections 17.1(a) or 17.1(b), then each holder of the Notes shall be deemed to have approved such amendment or waiver unless such amendment or waiver material adversely affects a
holder that has not affirmatively consented to such amendment or waiver in a manner disproportionate to the adverse effect of such amendment or waiver on the other holders; and 

(c) no amendment or waiver shall be valid without the Agent’s prior written consent if such waiver or amendment affects
the rights, duties, protections, immunities or indemnities of the Agent. 
 The Company shall provide notice of any amendment
or waiver to the Agent within five Business Days after the effectiveness of such amendment or waiver. 
  

	 	17.2.	Solicitation of Holders of Notes. 

 (a) Solicitation. The Company
will provide each holder of the Notes (irrespective of the amount of Notes then owned by it) with sufficient information, sufficiently far in advance of the date a decision is required, to enable such holder to make an informed and considered
decision with respect to any proposed amendment, waiver or consent in respect of any of the provisions hereof or of the Notes. The Company will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to the
provisions of this Section 17 to each holder of outstanding Notes promptly following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes. 

(b) Payment. The Company will not directly or indirectly pay or cause to be paid any remuneration, whether by way of
supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder of Notes as consideration for or as an inducement to the entering into by any holder of Notes of any waiver or amendment of
any of the terms and provisions hereof unless such remuneration is concurrently paid, or security is concurrently granted or other credit support concurrently provided, on the same terms, ratably to each holder of Notes then outstanding even if such
holder did not consent to such waiver or amendment. 
 (c) Consent in Contemplation of Transfer. Any consent made
pursuant to this Section 17.2 by the holder of any Note that has transferred or has agreed to transfer such Note to the Company, any Subsidiary or any Affiliate of the Company and has provided or has agreed to provide such written consent as a
condition to such transfer shall be void and of no force or effect except solely as to such holder, and any amendments effected or waivers granted or to be effected or granted that would not have been or would not be so effected or granted but for
such consent (and the consents of all other holders of Notes that were acquired under the same or similar conditions) shall be void and of no force or effect except solely as to such transferring holder. 

  
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	 	17.3.	Binding Effect, etc. 

 Any amendment or waiver consented to as provided
in this Section 17 applies equally to all holders of Notes and is binding upon them and upon each future holder of any Note and upon the Company without regard to whether such Note has been marked to indicate such amendment or waiver. No such
amendment or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course of dealing between the Company and the holder of any Note
nor any delay in exercising any rights hereunder or under any Note shall operate as a waiver of any rights of any holder of such Note. As used herein, the term “this Agreement” or “the Agreement” and references thereto shall mean
this Agreement as it may from time to time be amended or supplemented. 
  

	 	17.4.	Notes held by Company, etc. 

 Solely for the purpose of determining
whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement or the Notes, or have directed the taking of any
action provided herein or in the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Company shall be deemed not to be
outstanding. 
  

	 	18.	NOTICES. 

 All notices and communications provided for hereunder shall be
in writing and sent (a) by facsimile or electronic mail if the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid) or (b) by a recognized overnight delivery service
(with charges prepaid). Any such notice must be sent: 
 (a) if to you or your nominee, to you or it at the address specified
for such communications in Schedule A, or at such other address as you or it shall have specified to the Agent in writing, 

(b) if to any other holder of any Note, to such holder at such address as reflected in the register, 

(c) if to the Company, at its address set forth at the beginning hereof to the attention of the Chief Financial Officer and the
General Counsel, or at such other address as the Company shall have specified to the Agent in writing, or 
 (d) if to the
Agent, to: 
 Wilmington Trust, National Association 

50 South Sixth St., Suite 1290 

Attention: PQ Corporation Administrator 

Fax: 612-217-5651 

  
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 Notices given by first-class mail, postage prepaid, will be deemed given five
calendar days after mailing; notices personally delivered will be deemed given at the time delivered by hand; notices given by facsimile will be deemed given when receipt is acknowledged; notices given by overnight air courier guaranteeing next day
delivery will be deemed given the next Business Day after timely delivery to the courier; and notices given electronically will be deemed given when sent. The Company may satisfy its obligations to provide any notices to holders of the Notes
provided for hereunder by delivering such notice to the Agent together with instructions directing the Agent to provide such notice to holders of the Notes. 

The Company hereby acknowledges that (A) the Agent will make available to the holders materials and/or information
provided by or on behalf of the Company hereunder (collectively, “Company Materials”) by posting the Company Materials on Intralinks or another similar electronic system (the “Platform”) and (B) certain of the holders (each,
a “Public Holder”) may have personnel who do not wish to receive material non-public information and who may be engaged in investment and other market-related activities with respect to such
Persons’ securities. The Company hereby agrees that (x) by marking Company Materials “PUBLIC,” the Company shall be deemed to have authorized the Agent and the holders to treat such Company Materials as not containing any
material non-public information (although it may be sensitive and proprietary) (provided, however, that to the extent such Company Materials constitute Confidential Information, they shall be
treated as set forth in Section 20); (y) all Company Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information”; and (z) the Agent shall treat any
Company Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information”. 

Each Public Holder agrees to cause at least one individual at or on behalf of such Public Holder to at all times have selected
the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Holder or its delegate, in accordance with such Public Holder’s compliance procedures and
applicable law, including United States Federal and state securities laws, to make reference to communications that are not made available through the “Public Side Information” portion of the Platform and that may contain material
nonpublic information with respect to the Company or its securities for purposes of United States Federal or state securities laws. 
 THE
PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” NEITHER THE AGENT NOR ANY OF ITS RELATED PARTIES WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY
DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,
NON-INFRINGEMENT OF THIRD-PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT
SHALL THE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO THE COMPANY OR ANY GUARANTOR, ANY HOLDER OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON STRICT LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL
OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF THE 

  
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COMPANY’S OR GUARANTOR’S OR THE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING BY A
COURT OF COMPETENT JURISDICTION TO HAVE RESULTED FROM SUCH PERSON’S GROSS NEGLIGENCE, OR WILLFUL MISCONDUCT. 
  

	 	19.	[INTENTIONALLY OMITTED] 

  

	 	20.	CONFIDENTIAL INFORMATION. 

 For the purposes of this Section 20,
“Confidential Information” means information delivered to you by or on behalf of the Company or any Subsidiary in connection with the transactions contemplated by or otherwise pursuant to this Agreement that is proprietary in nature and
that was clearly marked or labeled or otherwise adequately identified when received by you as being confidential information of the Company or such Subsidiary, provided that such term does not include information that (a) was publicly known or
otherwise known to you prior to the time of such disclosure, (b) subsequently becomes publicly known through no act or omission by you or any Person acting on your behalf, (c) otherwise becomes known to you other than through disclosure by
the Company or any Subsidiary or (d) constitutes financial statements delivered to you under Section 7.1 that are otherwise publicly available. You will maintain the confidentiality of such Confidential Information in accordance with
procedures adopted by you in good faith to protect confidential information of third parties delivered to you, provided that you may deliver or disclose Confidential Information to (i) your Affiliates and your and their directors, trustees,
officers, employees, agents, attorneys, advisors, sub-advisors, funding sources, investors, potential investors and other representatives and affiliates (to the extent such disclosure reasonably relates to the
administration of the investment represented by your Notes or, in the case of such advisors, sub-advisors, funding sources, investors, potential investors or other representatives, to the extent they are
informed of the confidential nature of such Confidential Information and they agree to keep such Confidential Information confidential), (ii) your auditors, financial advisors and other professional advisors who agree to hold confidential the
Confidential Information substantially in accordance with the terms of this Section 20, (iii) any federal or state regulatory authority having jurisdiction over you, (iv) the National Association of Insurance Commissioners or any similar
organization, or any nationally recognized rating agency that requires access to information about your investment portfolio, (v) any other Person with the prior written consent of the Company, (vi) any holder of a Note or (vii) any
other Person to which such delivery or disclosure may be necessary or appropriate, including pursuant to the terms of this Agreement (x) to effect compliance with any law, rule, regulation or order applicable to you, (y) in response to any
subpoena or other legal process or (z) in connection with any litigation to which you are a party. Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this
Section 20 as though it were a party to this Agreement. On reasonable request by the Company in connection with the delivery to any holder of a Note of information required to be delivered to such holder under this Agreement or requested by
such holder (other than a holder that is a party to this Agreement or its nominee), such holder will enter into an agreement with the Company embodying the provisions of this Section 20. 

  
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	 	21.	SUBSTITUTION OF PURCHASER. 

 You shall have the right to substitute any
one of your Affiliates or such funds, entities and accounts that are managed or advised by you or your Affiliates (a “Substitute Purchaser”) as the purchaser of the Notes that you have agreed to purchase hereunder, by written notice to the
Company, which notice shall be signed by both you and such Substitute Purchaser, shall contain such Substitute Purchaser’s agreement to be bound by this Agreement and shall contain a confirmation by such Substitute Purchaser of the accuracy
with respect to it of the representations set forth in Section 6. Upon receipt of such notice, any reference to you in this Agreement (other than in this Section 21) shall be deemed to refer to such Substitute Purchaser in lieu of you. In
the event that such Substitute Purchaser is so substituted as a Purchaser hereunder and such Substitute Purchaser thereafter transfers to you all of the Notes then held by such Substitute Purchaser, upon receipt by the Company of notice of such
transfer, wherever the word “you” is used and any reference to such Substitute Purchaser as a “Purchaser” in this Agreement (other than in this Section 21) shall no longer be deemed to refer to such Substitute Purchaser, but
shall refer to you, and you shall again have all the rights of an original holder of the Notes under this Agreement, as the case may be. 
  

	 	22.	TAXES 

  

	 	22.1.	Tax Gross Up. 

 Any and all payments by or on account of any obligation
of Company under this Agreement to any holder shall be made without deduction or withholding for any present or future Taxes of whatever nature imposed or levied by or on behalf of any jurisdiction (hereinafter a “Taxing Jurisdiction”),
except as required by applicable law. If the deduction or withholding of any Tax shall at any time be required in respect of any amounts to be paid by the Company under this Agreement or the Notes or in respect of gains on the transfer of any Note,
the Company shall pay to the relevant Taxing Jurisdiction the full amount required to be withheld, deducted, or otherwise paid before penalties attach thereto or interest accrues thereon and pay to each holder such additional amounts as may be
necessary in order that the net amounts paid to such holder pursuant to the terms of this Agreement or the Notes after such deduction, withholding or payment (including, without limitation, any required deduction or withholding of Tax on or with
respect to such additional amount), shall be not less than the amounts then due and payable to such holder under the terms of this Agreement or the Notes before the assessment of such Tax, provided that no payment of additional amounts shall be
required to be made for or on account of: 
 (a) Any Tax that would not have been imposed but for the existence of any
present or former connection between such holder (or a fiduciary, settlor, beneficiary, member of, shareholder of, or possessor of a power over, such holder, if such holder is an estate, trust, partnership or corporation or any Person other than the
holder to whom the Notes or any amount payable thereon is attributable for the purposes of such Tax) and the Taxing Jurisdiction, other than the mere making of a loan or holding of the relevant Note or the receipt of payments thereunder or in
respect thereof, including, without limitation, such holder (or such other Person described in the above parenthetical) being or having been a citizen or resident thereof, or being or having been present or engaged in a trade or business therein or
having or having had an 

  
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establishment, office, fixed base, or branch therein, provided that this exclusion shall not apply with respect to a Tax that would not have been imposed but for the Company after the date of the
Closing, opening an office in, moving an office to, reincorporating in, or changing the Taxing Jurisdiction from or through which payments on account of this Agreement or the Notes are made, to the Taxing Jurisdiction imposing the relevant Tax; 

(b) Any Tax that would not have been imposed but for the delay or failure by the holder (following a written request by the
Company) in the filing with the relevant Taxing Jurisdiction of Forms (as defined below) that are required to be filed by such holder to avoid or reduce such Taxes (including for such purpose any refilings or renewals of filings that may from time
to time be required by the relevant Taxing Jurisdiction), provided that such holder shall be deemed to have satisfied the requirements of this clause (b) upon the good faith completion and submission of such Forms (including refilings or
renewals of filings) as may be specified in a written request of the Company no later than 60 days after receipt by such holder of such written request; 

(c) Any Taxes imposed under FATCA; 

(d) U.S. federal withholding Taxes imposed on amounts payable to or for the account of such holder under this Agreement or the
Notes pursuant to a law in effect on the date on which such holder becomes a party to this Agreement; or 
 (e) Any
combination of clauses (a), (b), (c) or (d) above. 
  

	 	22.2.	Tax Forms. 

 By acceptance of any Note, the holder of such Note agrees,
subject to the limitations of clause (b) above, that it will from time to time with reasonable promptness, duly complete and deliver to or as reasonably directed by the such properly completed and executed documentation reasonably requested by
the Company and the Agent (including, without limitation, any applicable IRS Form W-8 or W-9) as will permit such payments to be made without withholding or at a reduced
rate of withholding (collectively, “Forms”). 
  

	 	22.3.	Tax Receipts. 

 The Company will furnish the holders, promptly and in any
event within 60 days after the date of any payment by the Company of any Tax in respect of any amounts paid under or in respect of this Agreement or the Notes the original tax receipt issued by the relevant taxation or other authorities involved for
all amounts paid as aforesaid (or if such original tax receipt is not available or must legally be kept in the possession of the Company a duly certified copy of the original tax receipt or any other reasonably satisfactory evidence of payment),
together with such other documentary evidence with respect to such payments as may be reasonably requested from time to time by any holder. 

  
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	 	22.4.	Tax Indemnification. 

 If the Company is required by any applicable law,
as modified by the practice of the taxation or other authority of any relevant Taxing Jurisdiction, to make any deduction or withholding of any Tax in respect of which the Company would be required to pay any additional amount under this
Section 22, but for any reason does not make such deduction or withholding with the result that a liability in respect of such Tax assessed directly against a holder and such holder pays such liability then the Company will promptly reimburse
such holder for such payment (including any related interest or penalties to the extent such interest or penalties arise by virtue of a default or delay by the Company) upon demand by such holder accompanied by an official receipt (or duly certified
copy thereof) issued by the taxation or other authority of the relevant Taxing Jurisdiction. 
 To the extent required by any
applicable law, Agent may withhold from any payment to any holder under a Note Document an amount equal to any applicable withholding tax. If the Internal Revenue Service or any other Governmental Authority asserts a claim that Agent did not
properly withhold tax from amounts paid to or for the account of any holder (because the appropriate certification form was not delivered, was not properly executed, or fails to establish an exemption from, or reduction of, withholding tax with
respect to a particular type of payment, or because such holder failed to notify Agent or any other Person of a change in circumstances which rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason), or
Agent reasonably determines that it was required to withhold taxes from a prior payment but failed to do so, such holder shall promptly indemnify Agent fully for all amounts paid, directly or indirectly, by such Agent as tax or otherwise, including
penalties and interest, and together with all expenses incurred by Agent, including legal expenses, allocated internal costs and out-of-pocket expenses. Agent may offset
against any payment to any holder under a Note Document, any applicable withholding tax that was required to be withheld from any prior payment to such holder but which was not so withheld, as well as any other amounts for which Agent is entitled to
indemnification from such holder under this Section. 
  

	 	22.5.	Mitigation. 

 (a) If any holder of a Note requests indemnification
pursuant to Section 22.4, or the Company is required to pay any additional amount to any holder of a Note or any Taxing Jurisdiction for the account of any holder of a Note pursuant to Section 22.1, then such holder shall use reasonable
efforts to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such holder, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to
Section 22.4 or 22.1, as applicable, in the future, and (ii) would not subject such holder to any material unreimbursed out-of-pocket cost or expense and would
not otherwise be disadvantageous to such holder in any material respect. 
 (b) If any holder of a Note requests
indemnification pursuant to Section 22.4, or the Company is required to pay any additional amount to any holder of a Note or any Taxing Jurisdiction for the account of any holder of a Note pursuant to Section 22.1, then the Company may, at
its sole expense and effort, upon notice to such holder, (x) prepay any part of the Notes held by such holder, at a prepayment price equal to 100% of the principal amount so prepaid plus accrued and unpaid interest thereon as of the date of
prepayment, without regard to any Make-Whole Amount or Breakage Amount, or (y) replace such holder by requiring such holder to transfer, assign and delegate (and such holder shall be obligated to transfer, assign and delegate), without
recourse, all of its interests, rights and obligations under this Agreement to an Eligible 

  
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Assignee that shall assume such obligations (which Eligible Assignee may be another holder, if any holder accepts such transfer, assignment and delegation); provided that (A) such holder
shall have received payment of an amount equal to accrued and unpaid interest and all other amounts payable to such holder hereunder as of the date of transfer, (B) such transfer, assignment and delegation will result in a reduction in the
indemnification obligation pursuant to Section 22.4 or the additional amounts payable pursuant to Section 22.1, as applicable, and (C) such transfer, assignment and delegation does not conflict with applicable law. No holder of a Note
shall be required to make any such transfer, assignment and delegation, and the Company may not prepay the Notes held by such holder pursuant to this clause, if, prior thereto, as a result of a waiver by such holder or otherwise, the circumstances
entitling the Company to require such transfer, assignment and delegation or make such prepayment cease to apply. 
  

	 	22.6.	Survival. 

 The obligations of the Company under this Section 22
shall survive the making of any payment under this Agreement or a Note and the transfer of any Note. The provisions of this Section 22 shall also apply to successive transferees of the Notes. 

 

	 	23.	MISCELLANEOUS. 

  

	 	23.1.	Successors and Assigns. 

 All covenants and other agreements contained in
this Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not. 

 

	 	23.2.	Jurisdiction and Process; Waiver of Jury Trial. 

 (a) Each party hereto
irrevocably submits to the exclusive jurisdiction of any New York or federal court sitting in New York City, over any suit, action or proceeding arising out of or relating solely to this Agreement or the Notes. To the fullest extent permitted by
applicable law, each party hereto irrevocably waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to
the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 

(b) Each party hereto agrees, to the fullest extent permitted by applicable law, that a final judgment in any suit, action or
proceeding of the nature referred to in Section 23.2(a) brought in any such court shall be conclusive and binding upon it subject to rights of appeal, as the case may be, and may be enforced in the courts of the United States of America or the
State of New York (or any other courts to the jurisdiction of which it or any of its assets is or may be subject) by a suit upon such judgment. 

(c) Each party hereto irrevocably consents to process being served in any suit, action or proceeding solely of the nature
referred to in Section 23.2(a) by mailing a copy thereof by registered or certified or priority mail, postage prepaid, return receipt requested, or delivering a copy thereof in the manner for delivery of notices specified in Section 18, to
it. Each party hereto 

  
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agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action or proceeding and (ii) shall, to the fullest
extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it. Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal
Service or any reputable commercial delivery service. 
 (d) Nothing in this Section 23.2 shall affect the right of any
holder of a Note or the Agent to serve process in any manner permitted by law, or limit any right that the holders of any of the Notes or the Agent, as applicable, may have to bring proceedings against the Company in the courts of any appropriate
jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction. 
 (e) THE
PARTIES HERETO WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS AGREEMENT, THE NOTES OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH. 
  

	 	23.3.	Payments Due on Non-Business Days. 

Anything in this Agreement or the Notes to the contrary notwithstanding, any payment of principal of or Make-Whole Amount,
other premium or Breakage Amount or interest on any Note that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on
such next succeeding Business Day. 
  

	 	23.4.	Severability. 

 Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 
  

	 	23.5.	Construction. 

 Each covenant contained herein shall be construed (absent
express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant.
Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. 

 

	 	23.6.	Effectiveness; Counterparts. 

 This Agreement shall become effective on
the date hereof following execution hereof by the Company, the Agent and each Purchaser. This Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each
counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. 

  
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	 	23.7.	Governing Law; Submission to Jurisdiction. 

 This Agreement and the Notes
shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of New York, excluding choice-of-law
principles of the law of such State that would require the application of the laws of a jurisdiction other than such State. 
  

	 	23.8.	Indemnification. 

 The Company shall indemnify the Agent, each holder and
each Related Party of any of the foregoing persons (each such person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the
reasonable fees, charges and disbursements of any counsel to the Indemnitees (excluding allocated costs of internal counsel) (limited to one primary outside counsel for the Agent and its Related Parties and one primary outside counsel for all other
Indemnitees plus, in each case, any special or local counsel in each relevant jurisdiction and, in the case of an actual or reasonably perceived conflict of interest where the Indemnitees affected by such conflict inform the Company of such conflict
and, thereafter, retains their own counsel, of another firm of counsel for all such affected Indemnitees) incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Company or any of its Affiliates arising out of, in
connection with, or as a result of (i) the execution or delivery of this Agreement, any other Note Document, or any amendment, amendment and restatement, modification or waiver of the provisions hereof or thereof, or any agreement or instrument
contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Note or the use or proposed use of
the proceeds therefrom, or (iii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Company
or any of its Affiliates, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee (except that clauses (x), (y) and (z) below shall not apply to the Agent or any Related Party of
the Agent), be available to the extent that such losses, claims, damages, liabilities or related expenses (w) are determined by a court of competent jurisdiction by final and non-appealable judgment to
have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee (or such Indemnitee’s Related Parties), (x) are determined by a court of competent jurisdiction by final and
non-appealable judgment to be attributable to a material breach of such Indemnitee (or such Indemnitee’s Related Parties) of its obligations under the Note Documents, (y) relate to disputes solely
among or between holders or (z) relate to any alleged breach of this Agreement by the holders or Purchasers, whether brought by a third party, the Company or its Affiliates; provided, further, that, for the avoidance of doubt, losses, claims,
damages, liabilities or related expenses subject to indemnification or reimbursement under this Section 23.8 shall not include Taxes. The Company may, in its sole discretion, assume the defense of any claims brought against the Agent, subject
to Agent’s determination of any actual or potential conflict of interest. 
 For the purpose of this Section 23.8,
“Related Parties” shall mean, with respect to any person, such person’s Affiliates and the partners, directors, officers, employees, trustees, administrators, managers, agents, advisors and subadvisors of such person and of such
person’s Affiliates. 

  
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 To the fullest extent permitted by applicable Requirements of Law,
(i) neither the Company nor any Guarantor shall assert, and the Company and each Guarantor hereby waives, any claim against any Indemnitee, and (ii) no Indemnitee shall assert, and each Indemnitee hereby waives, any claim against any the
Company or any Guarantor, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Note Document or
any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Note or the use of the proceeds thereof. No Indemnitee referred to in paragraph (b) above shall be liable for any damages arising from the use
by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions
contemplated hereby or thereby. The obligations of the Company under this Section 23.8 will survive the termination of this Agreement and the resignation or removal of the Agent. 

 

	 	23.9.	Rules of Construction. 

 Unless the context otherwise requires: 

(a) a term has the meaning assigned to it; 

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c) “or” is not exclusive; 

(d) “including” means including without limitation; 

(e) words in the singular include the plural and words in the plural include the singular; 

(f) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its
nature as unsecured Indebtedness, and senior Indebtedness shall not be deemed to be subordinate or junior to any other senior Indebtedness merely by virtue of its junior priority with respect to the same collateral; 

(g) “$”, “U.S. Dollars”, “dollars” and “Dollars” each refer to United States dollars,
or such other money of the United States of America that at the time of payment is legal tender for payment of public and private debts; 

(h) “consolidated” means, with respect to any Person, such Person consolidated with its Restricted Subsidiaries, and
shall not include any Unrestricted Subsidiary, but the interest of such Person in an Unrestricted Subsidiary shall be accounted for as an Investment; 

  
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 (i) “will” shall be interpreted to express a command; 

(j) references to “you” or “your” in this Agreement shall relate solely to the Purchasers or other holders
of Notes and not to the Agent; 
 (k) provisions apply to successive events and transactions; 

(l) unless the context otherwise requires, any reference to an “Article,” “Section,” “clause,”
“Schedule” or “Exhibit” refers to an Article, Section, clause, Schedule or Exhibit, as the case may be, of this Agreement; 

(m) the words “herein,” “hereof” and other words of similar import refer to this Agreement as a whole and
not any particular Article, Section, clause or other subdivision; 
 (n) references to sections of, or rules under the
Securities Act or the Exchange Act shall be deemed to include substitute, replacement or successor sections or rules adopted by the SEC from time to time; and 

(o) unless otherwise provided, references to agreements and other instruments shall be deemed to include all amendments and
other modifications to such agreements or instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Agreement. 
  

	 	24.	NOTEHOLDER AGENT. 

 24.1. Appointment. 

(a) Each holder hereby irrevocably designates and appoints Wilmington Trust, National Association to act as the Agent for the
holders under this Agreement and the other Note Documents to which the Agent is a party and each holder irrevocably authorizes the Agent, in such capacity, to enter into and to take such action on its behalf under the provisions of this Agreement
and each other Note Document to which it is a party, on behalf of such holder, binding such holder to the terms and conditions thereof. 

(b) Notwithstanding any provision to the contrary elsewhere in this Agreement or any other Note Document, the Agent shall not
have any duties or responsibilities, except those expressly set forth herein or therein, or any fiduciary relationship with any holder or any other Person, and no implied covenants, functions, responsibilities, duties, obligations or liabilities
shall be read into this Agreement or any other Note Document or otherwise exist against the Agent. 
 (c) In performing its
functions and duties solely under this Agreement, the Agent shall act solely as the agent of the holders and does not assume, nor shall be deemed to have assumed, any obligation or relationship of trust with or for the holders. Without limiting the
generality of the foregoing, the Agent shall not be required to take any action with respect to any Event of Default, except at the direction of the Required Holders. The provisions of this Article 24 are solely for the benefit of the Agent and the
holders of Notes, and neither the Company nor any of its Subsidiaries or Affiliates shall have any rights as a third-party beneficiary of any of 

  
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such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Note Documents (or any other similar term) with reference to the Agent is not
intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any Applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative
relationship between contracting parties. 
  

	 	24.2.	Delegation of Duties. 

 The Agent may execute any of its duties under
this Agreement and the other Note Documents by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to
such duties. The Agent shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care. 

 

	 	24.3.	Exculpatory Provisions. 

 (a) Neither the Agent nor any of its respective
officers, directors, employees, agents, advisors, attorneys-in-fact or affiliates shall be (i) liable for any action taken or omitted to be taken by it or such
Person under or in connection with this Agreement or any other Note Document believed to be in its powers (except to the extent that any of the foregoing are found by a final decision of a court of competent jurisdiction that is not subject to
appeal to have resulted from its or such Person’s own gross negligence or willful misconduct), (ii) responsible in any manner to any of the holders for any recitals, statements, representations or warranties made by the Company or any Guarantor
or any officer thereof contained in this Agreement or any other Note Document or in any certificate, report, statement or other document referred to or provided for in, or received by such Agent under or in connection with, this Agreement or any
other Note Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Note Document or for any failure of the Company or any Guarantor to perform its obligations hereunder or
thereunder, (iii) liable to any Person for any action taken pursuant to direction from Required Holders, (iv) liable to any Person for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever
(including, but not limited to, lost profits), even if such Agent has been advised of the likelihood of such loss or damage or (v) responsible for the satisfaction of any condition set forth in Article 4. The Agent shall not be under any
obligation to any holder to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Note Document, or to inspect the properties, books or records of the Company
or any Guarantor. 
 (b) The Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a
Default has occurred and is continuing. The Agent shall not be required to take any action at the direction of holders of Notes that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is contrary to any Note
Document or Applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law. The Agent shall in no event be responsible or liable for any failure or delay in the performance
of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or
natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services. 

  
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 (c) The Agent shall not be liable for any action taken or not taken by it
(i) with the consent or at the request of the Required Holders or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and
non-appealable judgment. 
  

	 	24.4.	Notice of Default. 

 The Agent shall not be deemed to have knowledge or
notice of the occurrence of any Default or Event of Default unless such Agent has received notice from a holder or the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of
default”. 
  

	 	24.5.	Non-Reliance on the Agent and Other Holders. 

Each holder expressly acknowledges that neither the Agent nor any of its respective officers, directors, employees, agents,
advisors, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Agent hereafter taken, including any review of the
affairs of the Company or any Guarantor or any of their Affiliates, shall be deemed to constitute any representation or warranty by the Agent to any holder. Each holder represents to the Agent that it has, independently and without reliance upon any
other holder, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Company and the
Guarantors and their Affiliates and made its own decision to purchase the Notes hereunder and enter into this Agreement. Each holder also represents that it will, independently and without reliance upon the Agent or any other holder, and based on
such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Note Documents, and to make such
investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Company and the Guarantors and their Affiliates. The Agent shall not have any duty or
responsibility to provide any holder with any notice, credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of the Company or any Guarantor or any of their
Affiliates that may come into the possession of the Agent or any of their officers, directors, employees, agents, advisors, attorneys-in-fact or affiliates. 

 

	 	24.6.	Indemnification. 

 The holders agree to indemnify the Agent and its
officers, directors, employees, affiliates, agents, advisors and controlling persons (each, an “Agent Indemnitee”) (to the extent not reimbursed by the Company and without limiting the obligation of the Company to do so), ratably according
to their respective pro rata share in effect on the date on which indemnification is sought under this Section (with such pro rata share calculated as such holder’s pro rata share of the aggregate outstanding Notes), from and against any and
all liabilities, obligations, losses, 

  
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damages, penalties, actions, judgments, suits, costs, claims, including Environmental Claims, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the
payment of the Notes) be imposed on, incurred by or asserted against such Agent Indemnitee in any way relating to or arising out of, this Agreement, the Notes or any of the other Note Documents or any documents contemplated by or referred to herein
or therein or the transactions contemplated hereby or thereby or any action taken or omitted by such Agent Indemnitee under or in connection with any of the foregoing and whether brought by a third party, the Company or any holders; provided
that no holder shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are found by a final decision of a court of competent
jurisdiction not subject to appeal to have resulted from such Agent Indemnitee’s gross negligence or willful misconduct. The agreements in this Section shall survive the payment of the Notes and all other amounts payable hereunder, and the
resignation or removal of the Agent hereunder. 
  

	 	24.7.	The Agent in its Individual Capacity. 

 The Agent and its affiliates may
make loans to, accept deposits from and generally engage in any kind of business with the Company and the Guarantors as though such Agent were not an Agent. 
  

	 	24.8.	Successor Agent. 

 The Agent (i) may resign as Agent upon thirty
(30) Business Days’ notice to the holders and Company or (ii) may be removed at the direction of the Required Holders. If the Agent shall resign or be removed under this Agreement and the other Note Documents, then the Required
Holders may appoint a successor agent, which successor agent shall (unless an Event of Default shall have occurred and be continuing) be subject to approval by the Company (which approval shall not be unreasonably withheld or delayed), whereupon
such successor agent shall succeed to the rights, powers and duties of the Agent, and the term “Agent” shall mean such successor agent effective upon such appointment and approval, and the former Agent’s rights, powers and duties as
Agent shall be terminated, without any other or further act or deed on the part of such former Agent or any of the parties to this Agreement or any holders. If no successor Agent shall have been appointed by the Required Holders and shall have
accepted such appointment within 30 days after the retiring Agent’s giving of notice of resignation, then the retiring Agent’s resignation or removal shall be effective at the expiration of such 30 days. After any retiring Agent’s
resignation as Agent, the provisions of this Section 24 and of Sections 23.8 and 14.2 shall continue to inure to its benefit. 

Any Person into which the Agent may be converted or merged, or with which it may be consolidated, or to which it may sell or
transfer its corporate trust assets as a whole or substantially as a whole, or any Person resulting from any such conversion, merger, consolidation, sale or transfer to which the Agent is a party, shall (provided it is otherwise qualified to serve
as the Agent hereunder) be and become a successor Agent hereunder and be vested with all of the rights, duties and obligations as was its predecessor without the execution or filing of any instrument or any further act, deed or conveyance on the
part of any of the parties hereto or any other Person, anything herein to the contrary notwithstanding. 

  
 - 83 - 

	 	24.9.	Agent’s Duties. 

 Whenever reference is made in this Agreement or
any Note Document to any action by consent, designation, specification, requirement or approval of, notice, request or other communication from, or other direction given or action to be undertaken or to be (or not to be) suffered or omitted by the
Agent or to any amendment, waiver or other modification of this Agreement to be executed (or not to be executed) by the Agent or to any election, decision, opinion, acceptance, use of judgment, expression of satisfaction or other exercise of
discretion or rights or remedies to be made (or not to be made) by the Agent, it is understood that in all cases such Agent shall be acting, giving, withholding, suffering, omitting, making or otherwise undertaking and exercising the same (or shall
not be undertaking and exercising the same) as directed in accordance with this Agreement and the Note Documents. Notwithstanding anything in this Agreement or any Note Document to the contrary, the Agent will not in any event be required to take
any action which exposes such Agent to personal liability, which is contrary to this Agreement, the Note Documents or law or with respect to which such Agent does not receive instructions or full indemnification satisfactory to it. In determining
whether the requisite holders have directed any action or granted any approval requiring the direction or consent of the holders, the Agent may request and rely on written statements from each of the holders setting forth the outstanding principal
amount of its Notes. The Agent shall not be required to take any such action or give any such approval prior to receiving such written statements. Notwithstanding anything else to the contrary herein, it is understood that in all cases the Agent
shall be fully justified in failing or refusing to take any such action if it shall not have received written instruction, advice or concurrence from the Required Holders (or such other number or percentage of the holders of notes as shall be
expressly provided for herein or in any other Note Document) in respect of such action. The Agent shall have no liability for any failure or delay in taking any actions contemplated above as a result of a failure or delay on the part of the Required
Holders to provide such instruction, advice or concurrence. This provision is intended solely for the benefit of the Agent and its permitted successors and assigns and is not intended to, and will not, entitle the other parties hereto to any
defense, claim or counterclaims under or in relation to any Note Documents, or confer any rights or benefits on any party hereto. 
  

	 	24.10.	Financial Liability. 

 No provision of this Agreement or any other Note
Document or any agreement or instrument contemplated hereby or thereby, the transactions contemplated hereby or thereby shall require the Agent to (i) expend or risk its own funds or provide indemnities in the performance of any of its duties
hereunder or the exercise of any of its rights or power or (ii) otherwise incur any financial liability in the performance of its duties or the exercise of any of its rights or powers if it shall have reasonable grounds for believing repayment
of such funds or adequate indemnity against such risk or liability (including an advance of moneys necessary to take the action requested) is not reasonably assured to it except for such liability, if any, arising out of the gross negligence or
willful misconduct in the performance of its duties hereunder as determined by a final judgment of a court of competent jurisdiction that is not subject to appeal. 

If you are in agreement with the foregoing, please sign the form of agreement on the accompanying counterpart of this Agreement
and return it to the Company, whereupon the foregoing shall become a binding agreement between you and the Company. 
 [Signature Page
follows] 

  
 - 84 - 

 
			
	Very truly yours,
	
	PQ CORPORATION
		
	By:	 	 /s/ Joseph S. Koscinski

		 	Name: Joseph S. Koscinski
		 	Title: Vice President, Secretary &
		 	General Counsel

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

WILMINGTON TRUST, NATIONAL ASSOCIATION 
  

			
	By:	 	 /s/ Joshua G. James

		 	Name: Joshua G. James
		 	Title:   Vice President

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

GSO CAPITAL OPPORTUNITIES FUND II (LUXEMBOURG) S.A.R.L. 
  

			
	By:	 	 /s/ William Foot

		 	Name: William Foot
		 	Title:   Manager A
		
	By:	 	 /s/ Jean-Claude Koch

		 	Name: Jean-Claude Koch
		 	Title:   Manager B

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

GSO CREDIT-A PARTNERS LP 

By: GSO CAPITAL PARTNERS LP, its Investment Manager 
  

			
	By:	 	 /s/ Marissa Beeney

		 	Name: Marissa Beeney
		 	Title:   Authorized Signatory

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

GSO CREDIT-A PARTNERS LP 
  

			
	By: GSO CAPITAL PARTNERS LP, its Investment Manager
		
	By:	 	 /s/ Marissa Beeney

		 	Name: Marissa Beeney
		 	Title:   Authorized Signatory

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

GSO CREDIT ALPHA FUND LP 
  

			
	By: GSO CAPITAL PARTNERS LP, its Investment Manager

			
		
	By:	 	 /s/ Marissa Beeney

		 	Name: Marissa Beeney
		 	Title:   Authorized Signatory

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

 

			
	GSO PALMETTO OPPORTUNISTIC INVESTMENT PARTNERS LP

  

			
	By: GSO CAPITAL PARTNERS LP, its Investment Manager

			
		
	By:	 	 /s/ Marissa Beeney

		 	Name: Marissa Beeney
		 	Title:   Authorized Signatory

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

GSO CHURCHILL PARTNERS II LP 
  

			
	By: GSO CAPITAL PARTNERS LP, its Investment Manager
		
	By:	 	 /s/ Marissa Beeney

		 	Name: Marissa Beeney
		 	Title:   Authorized Signatory

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

GSO CACTUS CREDIT OPPORTUNITIES FUND LP 
  

			
	By: GSO CACTUS CREDIT OPPORTUNITIES ASSOCIATES LLC, its general partner

			
		
	By:	 	 /s/ Marissa Beeney

		 	Name: Marissa Beeney
		 	Title:   Authorized Signatory

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

 

			
	CORPORATE CAPITAL TRUST, INC.
		
	By:	 	 /s/ Nicole J. Macarchuk

		 	Name: Nicole J. Macarchuk
		 	Title:   Authorized Signatory

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

 

			
	PCOP II TOPCO INTERMEDIATE B L.P.
		
	By:	 	 /s/ Nicole J. Macarchuk

		 	Name: Nicole J. Macarchuk
		 	Title:   Authorized Signatory

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

 

			
	MetLife Private Equity Holdings, LLC
	By: MetLife SP Holdings, LLC, its sole member
	By: Metropolitan Life Insurance Company, its sole member

					
			
		 	By:	 	 /s/ Justin E. Ryvicker

		 	Name:	 	Justin E. Ryvicker
		 	Title:	 	Director

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

 

			
	MetLife Insurance K.K.
	By: MetLife Investment Advisors, LLC, its Investment Manager
		
	By:	 	 /s/ Justin E. Ryvicker

	Name:	 	Justin E. Ryvicker
	Title:	 	Director

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

 

			
	SVG Capital plc
		
	By:	 	 /s/ Lynn Fordham

	Name:	 	Lynn Fordham
	Title:	 	Director
		
	By:	 	 /s/ Stuart Ballard

	Name:	 	Stuart Ballard
	Title:	 	Company Secretary

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

 

			
	Andrew Christopher Currie
		
	By:	 	 /s/ Mark Mitchell

	Name:	 	Mark Mitchell
	Title:	 	Attorney-in-fact

 [Signature Page to Note Purchase Agreement] 

 The foregoing is agreed to as of the date thereof. 

 

			
	James Arthur Ratcliffe
		
	By:	 	 /s/ Mark Mitchell

	Name:	 	Mark Mitchell
	Title:	 	Attorney-in-fact

 [Signature Page to Note Purchase Agreement] 

 SCHEDULE A 

INFORMATION RELATING TO PURCHASERS 
  

							
	 Name of Purchaser
	  	Principal Amount of Notes
to be Purchased	  	Taxpayer I.D.
Number	 
	 GSO CAPITAL

OPPORTUNITIES FUND II

(LUXEMBOURG) S.À

R.L.
	  	$217,000,000	  			
	 GSO CREDIT-A

PARTNERS LP
	  	$10,000,000	  			
	 GSO CREDIT ALPHA

FUND LP
	  	$30,000,000	  			
	 GSO PALMETTO

OPPORTUNISTIC INVESTMENT

PARTNERS LP
	  	$10,000,000	  			
	 GSO CHURCHILL

PARTNERS II LP
	  	$20,000,000	  			
	 GSO CACTUS CREDIT

OPPORTUNITIES FUND LP
	  	$5,000,000	  			

 (1) All scheduled payments of principal and interest by wire transfer of immediately available funds to such
bank account as may be designated and notified by the Purchaser to the Company in writing. 
 (2) Address for all notices and communications
and for delivery of the Notes: 
 GSO CAPITAL OPPORTUNITIES FUND II (LUXEMBOURG) S.À R.L.: 

GSO Capital Opportunities Fund II (Luxembourg) S.à r.l. 

c/o GSO Capital Partners LP 
 345
Park Avenue, 31st Floor 
 New York, NY 10154 

12017165632@TLS.LDSPROD.COM 

  
 A-1 

 With a copy to: 

GSO Capital Partners LP 
 Attn:
Legal 
 345 Park Avenue, 30st Floor 

New York, NY 10154 

gsolegal@gsocap.com 
 GSO CREDIT-A PARTNERS LP: 
 GSO Credit-A Partners LP 

c/o GSO Capital Partners LP 
 345
Park Avenue, 31st Floor 
 New York, NY 10154 

Attn: Alice Taormina/Isabelle Pradel 

Phone: (212) 503-2148/2149 

Fax: (214) 919-0506 

Email: 12149190506@TLS.LDSPROD.com 

With a copy to: 
 GSO Capital
Partners LP 
 Attn: Legal 
 345
Park Avenue, 30st Floor 
 New York, NY 10154 

gsolegal@gsocap.com 
 GSO CREDIT ALPHA FUND LP:

 GSO Credit Alpha Fund LP 

c/o GSO Capital Partners LP 
 345
Park Avenue, 31st Floor 
 New York, NY 10154 

Attn: Alice Taormina/Isabelle Pradel 

Phone: (212) 503-2148/2149 

Fax: (469) 814-8617 

Email: 14698148617@tls.ldsprod.com 

With a copy to: 
 GSO Capital
Partners LP 
 Attn: Legal 
 345
Park Avenue, 30st Floor 
 New York, NY 10154 

gsolegal@gsocap.com 
 GSO PALMETTO OPPORTUNISTIC
INVESTMENT PARTNERS LP: 
 GSO Palmetto Opportunistic Investment Partners LP 

Alice Taormina 

  
 A-2 

 
345 Park Avenue, 31st Floor 
 New York, NY 10154 

Phone: (212) 503-2148 

Fax: (212) 503-6961 

Email: alice.taormina@gsocap.com 

Fax number:
1-972-996-7811 

Email: 19729967811@tls.ldsprod.com 

With a copy to: 
 GSO Capital
Partners LP 
 Attn: Legal 
 345
Park Avenue, 30st Floor 
 New York, NY 10154 

gsolegal@gsocap.com 
 GSO CHURCHILL PARTNERS II
LP: 
 GSO CHURCHILL PARTNERS II LP 

345 Park Avenue, 31st Floor 
 New
York, NY 10154 
 Attn: Sal Aloia 

Email: Sal.Aloia@gsocap.com 

Phone: 212-503-6982 

Fax: 214-646-1846 

Email for notices: 12146461846@tls.ldsprod.com 

With a copy to: 
 GSO Capital
Partners LP 
 Attn: Legal 
 345
Park Avenue, 30st Floor 
 New York, NY 10154 

gsolegal@gsocap.com 
 GSO CACTUS CREDIT
OPPORTUNITIES FUND LP: 
 GSO Capital Partners LP 

345 Park Avenue, 31st Floor 
 New
York, NY 10154 
 Contact (loans only): Sal Aloia 

Phone: 212-503-6982 

Fax: (469)-919-5919 

Email: 14699195919@tls.ldsprod.com 

  
 A-3 

 With a copy to: 

GSO Capital Partners LP 
 Attn:
Legal 
 345 Park Avenue, 30st Floor 

New York, NY 10154 

gsolegal@gsocap.com 
  

							
	 Name of Purchaser
	  	Principal Amount of Notes
to be Purchased	  	Taxpayer I.D.
Number	 
	 CORPORATE CAPITAL

TRUST, INC.
	  	$133,488,372.09	  			
	 PCOP II TOPCO

INTERMEDIATE B L.P.
	  	$30,511,627.91	  			

 (1) All scheduled payments of principal and interest by wire transfer of immediately available funds to such
bank account as may be designated and notified by the Purchaser to the Company in writing. 
 (2) Address for all notices and communications
and for delivery of the Notes: 
 CORPORATE CAPITAL TRUST, INC.: 

KKR Funding & Settlement Desk 

C/O Treasury Department 
 555
California, 50th Floor 
 San Francisco, CA 94104 

Attn: Mike Kantor 
 Tel: 415-315-6500 
 Fund Name: Corporate Capital Trust, Inc. 

Email Address: CreditMiddleOffice@kkr.com 
 PCOP
II TOPCO INTERMEDIATE B L.P.: 
 PCOP II Topco Intermediate B L.P. 

c/o KKR Credit Advisors (US) LLC 

555 California, 50th Floor 
 San
Francisco, CA 94104 
 Attn: Mike Kantor 

Phone: 415-315-6500 

Fax: 415-391-3330 

Email: CreditMiddleOffice@kkr.com 

  
 A-4 

							
	 Name of Purchaser
	  	Principal Amount of Notes
to be Purchased	  	Taxpayer I.D.
Number	 
	 METLIFE PRIVATE

EQUITY HOLDINGS,

LLC
	  	$12,000,000	  			
	 METLIFE INSURANCE

K.K.
	  	$13,000,000	  			

 (1) All scheduled payments of principal and interest by wire transfer of immediately available funds to such
bank account as may be designated and notified by the Purchaser to the Company in writing. 
 (2) Address for all notices and communications
and for delivery of the Notes: 
 METLIFE PRIVATE EQUITY HOLDINGS, LLC.: 

Delivery of original Notes: 

MetLife Private Equity Holdings, LLC 

c/o Metropolitan Life Insurance Company 

Securities Investments, Law Department 

P.O. Box 1902 
 10 Park Avenue

 Morristown, New Jersey 07962-1902 

Attention: Chiraag Kumar, Esq. 

Notices: 
 MetLife Private Equity
Holdings, LLC 
 c/o Metropolitan Life Insurance Company 

Investments, Alternatives 

MetLife Private Equity Holdings, LLC 

10 Park Avenue 
 Morristown, NJ
07962 
 Attn: Director – Mezzanine 

email: alternatives@metlife.com 

With a copy other than with respect to deliveries of financial statements to: 

MetLife Private Equity Holdings, LLC 

c/o Metropolitan Life Insurance Company 

Investments, Law Department 

  
 A-5 

 
Metropolitan Life Insurance Company 
 10 Park Avenue, P.O. Box 1902 

Morristown, New Jersey 07962 

Attn: Chief Counsel – Securities Investments (Alternatives) 

email: ckumar19@metlife.com and Sec_Invest_Law@metlife.com 

METLIFE INSURANCE K.K.: 
 Delivery of original
Notes: 
 MetLife Insurance K.K. 

c/o MetLife Investment Advisors, LLC 

Investments Law 
 P.O. Box 1902

 10 Park Avenue 
 Morristown,
New Jersey 07962-1902 
 Attention: Chiraag Kumar, Esq. 

Notices: 
 MetLife Asset
Management Corp. (Japan) 
 Administration Department 

ARCA East 7F, 3-2-1 Kinshi 

Sumida-ku, Tokyo 130-0013 Japan 

Attention: Administration Dept. Manager 

Email: saura@metlife.co.jp 
 With
a copy to: 
 MetLife Insurance K.K. 

c/o MetLife Investment Advisors, LLC 

Investments, Alternative Investments 

P.O. Box 1902 
 10 Park Avenue

 Morristown, New Jersey 07962-1902 

Attention: Justin Ryvicker 

Emails: alternatives@metlife.com and jryvicker@metlife.com 

And: 
 MetLife Insurance K.K. 

c/o MetLife Investment Advisors, LLC 

P.O. Box 1902 
 10 Park Avenue

 Morristown, New Jersey 07962-1902 

Attention: Chiraag Kumar 
 Email:
mhernandez@metlife.com 

  
 A-6 

					
	 Name of Purchaser
	  	Principal Amount of Notes
to be Purchased	  	Taxpayer I.D.
Number
	SVG CAPITAL PLC	  	$30,000,000	  	

 (1) All scheduled payments of principal and interest by wire transfer of immediately available funds to such
bank account as may be designated and notified by the Purchaser to the Company in writing. 
 (2) Address for all notices and communications
and for delivery of the Notes: 
 SVG Capital plc 

6 Kean Street 
 London WC2B 4AS

 United Kingdom 

Stephen.cunningham@svgcapital.com 

Stuart.ballard@svgcapital.com 

SVGCapitalNotices@svgcapital.com 
  

					
	 Name of Purchaser
	  	Principal Amount of Notes
to be Purchased	  	Taxpayer I.D.
Number
	 ANDREW

CHRISTOPHER

CURRIE
	  	$4,000,000	  	

 (1) All scheduled payments of principal and interest by wire transfer of immediately available funds to such
bank account as may be designated and notified by the Purchaser to the Company in writing. 
 (2) Address for all notices and communications
and for delivery of the Notes: 
 With a copy to: 

Mark Mitchell, INEOS AG, Avenue des Uttins 3, 1180 Rolle, Switzerland 

Telephone: +41 (0)2 1627 7058 

Fax: +41 (0)2 1627 7045 
 Email:
mark.mitchell@ineos.com 

  
 A-7 

					
	 Name of Purchaser
	  	Principal Amount of Notes
to be Purchased	  	Taxpayer I.D.
Number
	JAMES ARTHUR RATCLIFFE	  	$10,000,000	  	

 (1) All scheduled payments of principal and interest by wire transfer of immediately available funds to such
bank account as may be designated and notified by the Purchaser to the Company in writing. 
 (2) Address for all notices and communications
and for delivery of the Notes: 
 With a copy to: 

Mark Mitchell, INEOS AG, Avenue des Uttins 3, 1180 Rolle, Switzerland 

Telephone: +41 (0)2 1627 7058 

Fax: +41 (0)2 1627 7045 
 Email:
mark.mitchell@ineos.com 
  

  
 A-8 

 SCHEDULE B 

As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof
following such term: 
 “Acceptable Commitment” is defined in Section 10.7(b)(iv). 

“Accredited Investor” means an “accredited investor” within the meaning of Rule 501 under the Securities
Act. 
 “Acquired Indebtedness” means, with respect to any specified Person, 

(a) Indebtedness of any other person existing at the time such other Person is consolidated, merged or amalgamated with or into
or became a Restricted Subsidiary of such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such other Person merging or amalgamating with or into, or becoming a Restricted Subsidiary of, such specified
Person, and 
 (b) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 

“Adjusted LIBOR Rate” for each Interest Period means a rate per annum equal to 10.75% plus LIBOR Rate for such
Interest Period. 
 “Administrative Holders” means (a) for the period that the Lead Purchasers and their
Affiliates constitute Required Holders, (1) the Lead Purchasers acting together or (2) in the event that any Lead Purchaser no longer constitutes a holder, such other Lead Purchaser and (b) for the period that the Lead Purchasers and
their Affiliates no longer constitute Required Holders, at the Company’s option either (1) the Required Holders or (2) such holder as the Company and the Required Holders may agree. 

“Advance Offer” is defined in Section 8.4(a). 

“Advance Portion” is defined in Section 8.4(a). 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or
under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and
“under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the
ownership of voting securities, by agreement or otherwise. 
 “Affiliate Transaction” is defined in
Section 10.5(a). 
 “Agent” is defined in the preamble hereto. 

“Agent Indemnitee” is defined in Section 24.6. 

  
 B-1 

 “Aggregate Amounts Due” is defined in Section 14.4. 

“Anti-Corruption Laws” means the FCPA, the U.K. Bribery Act 2010, and other similar laws and regulations applicable
to the Company or any Guarantor from time to time. 
 “Asset Sale” means: 

(a) the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions,
of property or assets (including by way of a Sale and Lease-Back Transaction) of the Company or any of its Restricted Subsidiaries (each referred to in this definition as a “disposition”); or 

(b) the issuance or sale of Equity Interests of any Restricted Subsidiary, whether in a single transaction or a series of
related transactions (other than Preferred Stock of Restricted Subsidiaries issued in compliance with Section 10.2 and directors’ qualifying shares and shares issued to foreign nationals as required under applicable law); 

in each case, other than: 

(aa) any disposition of (i) Cash Equivalents (or other financial assets that were Cash Equivalents when the original
Investment was made) or Investment Grade Securities, (ii) surplus, obsolete, used, damaged or worn out property or equipment in the ordinary course of business (whether now owned or hereafter acquired) or any disposition or consignment of
equipment, inventory or goods (or other assets) held for sale in the ordinary course of business, (iii) property no longer used or useful in the conduct of business of the Company and its Restricted Subsidiaries and (iv) property or
equipment that is otherwise economically impracticable to maintain; 
 (bb) the disposition of all or substantially all of
the assets of the Company in a manner permitted pursuant to the provisions described above under Section 10.4 or any disposition that constitutes a Change of Control pursuant to this Agreement; 

(cc) the making of any Restricted Payment that is permitted to be made, and is made, under Section 10.1 or the making of
any Permitted Investment; 
 (dd) any disposition of assets of the Company or any Restricted Subsidiary or issuance or sale
of Equity Interests of any Restricted Subsidiary in any transaction or series of transactions with an aggregate fair market value not to exceed $20.0 million; 

(ee) any disposition of property or assets or issuance of securities by a Restricted Subsidiary to the Company or by the
Company or a Restricted Subsidiary to another Restricted Subsidiary; 
 (ff) to the extent allowable under Section 1031
of the Code, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 
 (gg) (i) the
sale, lease, assignment, sublease, license or sublicense of any real or personal property in the ordinary course of business and (ii) the termination of leases in the ordinary course of business; 

  
 B-2 

 (hh) any issuance or sale of Equity Interests in, or Indebtedness or other
securities of, an Unrestricted Subsidiary or any other disposition of such Unrestricted Subsidiary or any disposition of assets of such Unrestricted Subsidiary; 

(ii) any disposition arising from foreclosure, casualty, condemnation or any similar action or transfers by reason of eminent
domain with respect to any property or other asset of the Company or any of the Restricted Subsidiaries or exercise of termination rights under any lease, sublease, license, sublicense, concession or other agreement; 

(jj) a transfer of accounts receivable and related assets of the type specified in the definition of “Receivables
Facility” (or a fractional undivided interest therein or pursuant to any factoring or similar arrangement); 
 (kk)
dispositions in connection with the granting of a Lien that is permitted under the covenant described above under Section 10.3; 

(ll) the issuance by a Restricted Subsidiary of Preferred Stock or Disqualified Stock that is permitted by Section 10.2;

 (mm) any financing transaction with respect to property built or acquired by the Company or any Restricted Subsidiary
after the Closing Date, including Sale and Lease-Back Transactions, Specified Property Financing and asset securitizations, permitted by this Agreement; 

(nn) any grant in the ordinary course of business of any license of patents, trademarks,
know-how or any other intellectual property, including, but not limited to, grants of franchises or licenses, franchise or license master agreements and/or area development agreements; 

(oo) dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of
business or in bankruptcy or similar proceedings; 
 (pp) the sale, discount or forgiveness of accounts receivable or notes
receivable in the ordinary course of business or in connection with the collection or compromise thereof or the conversion of accounts receivable to notes receivable; 

(qq) the abandonment of intellectual property rights in the ordinary course of business which in the reasonable good faith
determination of the Company are uneconomical or not material to the conduct of the business of the Company and the Restricted Subsidiaries taken as a whole; 

(rr) termination of non-speculative Hedging Obligations; 

(ss) any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort or other
claims of any kind in the ordinary course of business; 
 (tt) sales, transfers and other dispositions of Investments in
joint ventures or any Subsidiary that is not a Wholly-Owned Subsidiary to the extent required by, or made pursuant to, buy/sell arrangements between the joint venture or similar parties set forth in the relevant joint venture arrangements and/or
similar binding arrangements; 

  
 B-3 

 (uu) dispositions of real property and related assets in the ordinary course of
business in connection with relocation activities for directors, officers, employees, members of management or consultants of any direct or indirect parent company, the Company or any Subsidiary; 

(vv) dispositions and/or terminations of leases, subleases, licenses or sublicenses (including the provision of software under
any open source license), which (i) do not materially interfere with the business of the Company and its Restricted Subsidiaries, taken as a whole, or (ii) relate to closed facilities or the discontinuation of any product line; 

(ww) dispositions of non-core assets acquired in connection with any acquisition
otherwise permitted under this Agreement and sales of Real Estate Assets acquired in any acquisition otherwise permitted under this Agreement; provided that the Net Proceeds received in connection with any such disposition shall be applied in
accordance with Section 10.7 (it being understood that notwithstanding the foregoing such amounts and only such amounts shall not be required to be applied or otherwise comply with Section 10.7(a)(i) and (a)(ii)); and 

(xx) sales, transfers, dispositions or conveyances that arise out of or relate to any (a) Specified Lease Transactions or
(b) NMTC Transaction. 
 “Asset Sale Offer” is defined in Section 8.4(a). 

“Available Incremental Amount” means an aggregate principal amount of up to the sum of (a) an unlimited amount
of Indebtedness so long as the Consolidated First Lien Debt Ratio for the Company’s most recently ended four consecutive full fiscal quarters for which internal financial statements are available immediately preceding the incurrence or issuance
of such Indebtedness, after giving pro forma effect to such incurrence or issuance and the application of the proceeds thereof, is either (i) less than or equal to 4.10:1.00 or (2) on a pro forma basis after giving effect to such
incurrence of Indebtedness and any related transaction, the consolidated First Lien Debt Ratio does not increase as a result of such transaction, provided that in no event shall the First Lien Debt Ratio on a pro forma basis after giving
effect to such incurrence of Indebtedness and any related transaction exceed 4.5:1.00; provided that, for the purposes of determining the amount that can be incurred under this clause (a), all Indebtedness then being incurred pursuant to this clause
(a) on such date in reliance on this clause (a) shall be deemed to be included as Consolidated Total Indebtedness that is secured by Liens in clause (1) of the definition of “Consolidated First Lien Debt Ratio” plus (b)
$200.0 million; provided, further, that the Company may elect to use clause (a) above prior to this clause (b), and if both clause (a) above and this clause (b) are available and the Company does not make an election, the Company
will be deemed to have elected clause (a) above prior to the utilization of any amount available under this clause (b). 

“Bank Products” means any services or facilities on account of credit or debit cards, purchase cards, stored value
cards or merchant services constituting a line of credit. 

  
 B-4 

 “Beneficial Owner,” “Beneficially Own” and “Beneficial
Ownership” have the meanings assigned to such terms in Rule 13d-3 and Rule 13d-5, under the Exchange Act, except that in calculating the Beneficial Ownership of any
particular “person” or “group,” as such terms are used in Section 13(d)(3) of the Exchange Act, such person or group shall be deemed to have Beneficial Ownership of all shares of Capital Stock that such person or group has the
right to acquire, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition. 

“Board of Directors” means: (a) with respect to a corporation, the board of directors of the corporation or any
committee thereof duly authorized to act on behalf of such board; (b) with respect to a partnership, the Board of Directors of the general partner of the partnership; (c) with respect to a limited liability company, the managing member or
members or any controlling committee of managing members thereof; and (d) with respect to any other Person, the board or committee of such Person serving a similar function. 

“Borrowing Base” means the sum of (i) 85% of the eligible accounts receivable of the Company and the other borrowers
and guarantors under any revolving Credit Facility (collectively, the “ABL Loan Parties”), plus (ii) the lesser of (x) 85% of the net orderly liquidation value of eligible inventory of the ABL Loan Parties or (y) 70% of the book value
of the ABL Loan Parties’ eligible inventory (calculated at the lower of cost or market value), plus (iii) 100% of the cash and cash equivalents of the ABL Loan Parties on deposit in accounts secured by a first priority lien in favor of such
Credit Facility. 
 “Breakage Amount” shall mean any loss, cost or expense reasonably incurred by any holder of a
Note as a result of any payment or prepayment of any Note on a day other than an Interest Payment Date or at scheduled maturity thereof (whether voluntary, mandatory, automatic, by reason of acceleration or otherwise), and any loss or expense
arising from the liquidation or reemployment of funds obtained by such holder or from fees payable to terminate the deposits from which such funds were obtained; provided that any such loss, cost or expense shall be limited to the time period from
the date of such prepayment through the earlier of (a) the next Interest Payment Date and (b) the maturity date of the Notes. Each holder shall determine the Breakage Amount with respect to the principal amount of its Notes then being paid
or prepaid (or required to be paid or prepaid) by written notice to the Company (with a copy to the Agent) setting forth such determination in reasonable detail not less than two Business Days prior to the date of prepayment in the case of any
prepayment pursuant to Section 8 or any payment required by Section 12. Each such determination shall be conclusive absent manifest error. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which commercial banks in New York City are
required or authorized to be closed. 
 “Capital Stock” means: 

(a) in the case of a corporation, shares in the capital of such corporation; 

(b) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of capital stock; 

  
 B-5 

 (c) in the case of a partnership or limited liability company, partnership or
membership interests (whether general or limited); and 
 (d) any other interest or participation that confers on a Person
the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the amount of the
liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP. 

“Capitalized Software Expenditures” means, for any period, the aggregate of all expenditures (whether paid in cash or
accrued as liabilities) by a Person and its Subsidiaries during such period in respect of licensed or purchased software or internally developed software and enhancements that, in conformity with GAAP, are or are required to be reflected as
capitalized costs on the consolidated balance sheet of such Person and such Subsidiaries. 
 “Cash” means, at any
time, cash in hand or at bank that is reported as cash in Company’s financial statements prepared in accordance with GAAP. 

“Cash Equivalents” means: 

(a) dollars, pounds sterling, euro, or any national currency of any participating member state of the EMU or, in the case of
any Foreign Subsidiary that is a Restricted Subsidiary, such local currencies held by them from time to time in the ordinary course of business; 

(b) securities issued or directly and unconditionally guaranteed or insured as to interest and principal by the U.S. government
or any agency or instrumentality thereof, the obligations of which are backed by the full faith and credit of the U.S., in each case maturing within one year after such date and, in each case, repurchase agreements and reverse repurchase agreements
relating thereto; 
 (c) deposits, money market deposits, time deposit accounts, certificates of deposit or bankers’
acceptances (or similar instruments) maturing within one year after such date, in each case with any bank or trust company organized under, or authorized to operate as a bank or trust company under, the laws of the U.S., any state thereof or the
District of Columbia and that has capital and surplus of not less than $100.0 million and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; 

(d) commercial paper maturing within 24 months from the date of creation thereof and having, at the time of the acquisition
thereof, a rating of at least A-2 from S&P or at least P-2 from Moody’s (or, if at any time neither S&P nor Moody’s shall be rating such obligations,
an equivalent rating from another nationally recognized statistical rating agency); 
 (e) marketable short-term money market
and similar securities having a rating of at least P-2 or A-2 from either Moody’s or S&P, respectively (or reasonably equivalent ratings of another
internationally recognized ratings agency) and in each case maturing within 24 months after the date of creation thereof and in a currency permitted under clause (a) or (b) above; 

  
 B-6 

 (f) readily marketable direct obligations issued by any state, commonwealth or
territory of the United States or any political subdivision or taxing authority thereof having an Investment Grade Rating from either Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized rating agency) with
maturities of 24 months or less from the date of acquisition; 
 (g) Indebtedness or Preferred Stock issued by Persons with a
rating of “A” or higher from S&P or “A2” or higher from Moody’s (or reasonably equivalent ratings of another internationally recognized ratings agency) with maturities of 24 months or less from the date of acquisition
and in each case in a currency permitted under clause (a) or (b) above; 
 (h) Investments with average maturities of 12
months or less from the date of acquisition in money market funds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s and in each case in a
currency permitted under clause (a) or (b) above; 
 (i) institutional money market funds registered under the
Investment Company Act of 1940; 
 (j) in the case of any Foreign Subsidiaries, investments equivalent to those referred to
in clauses (c) through (j) above denominated in foreign currencies customarily used by persons for cash management purposes in any jurisdiction outside the United States; and 

(k) investment funds (including shares of any money market mutual fund) investing substantially all of their assets in
securities of the types described in clauses (a) through (k) above. 
 Notwithstanding the foregoing, Cash Equivalents
shall include amounts denominated in currencies other than those set forth in clauses (a) and (b) above, provided that such amounts are converted into any currency listed in clauses (a) and (b) as promptly as practicable and in any event
within ten Business Days following the receipt of such amounts. 
 “Cash Management Services” means any of the
following to the extent not constituting a line of credit: treasury and/or cash management services, including, without limitation, other netting services, overdraft protections, automated clearing-house arrangements, employee credit card programs,
controlled disbursement services, ACH transactions, return items, interstate depository network services, foreign exchange facilities, deposit and other accounts and merchant services (including, for the avoidance of doubt, all “Banking
Services” as defined in the Senior Credit Facilities). 
 “Change of Control” means the occurrence of any of the following after the Closing Date: 
 (a)
at any time prior to a Qualifying IPO, (i) the Permitted Holders cease to be the Beneficial Owners, directly or indirectly, of Voting Stock representing at least 51% of the total voting power of the Voting Stock of Holdings or (ii) CCMP
Capital Advisors, LLC and their Affiliates (but not including any of their operating portfolio companies) cease to be the Beneficial Owner, directly or indirectly, of Voting Stock representing at least 51% of the total voting power of the Voting
Stock of Holdings held by CCMP Capital Advisors, LLC and their Affiliates (but not including any of their operating portfolio companies) on the Closing Date; 

  
 B-7 

 (b) at any time on or after a Qualifying IPO (i) any “person” or
“group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), other than one or more members of the Permitted Holders, becomes the Beneficial Owner, directly or indirectly of Voting Stock representing more than 50% of
the total voting power of the Voting Stock of Holdings, and (ii) the Permitted Holders are not the Beneficial Owners of Voting Stock representing at least an equal percentage of the total voting power of the Voting Stock of Holdings (it being
understood that a “Change of Control” shall not be deemed to have occurred with respect to clauses (a)(i) and (b) above if the Investors have, at such time, the right or ability by voting power, contract or otherwise to
elect or designate for election a majority of the Board of Directors (or similar governing body) of Holdings); 
 (c) the
sale, lease or transfer, in one or a series of related transactions (other than by way of merger or consolidation), of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person other than one or more
Permitted Holders; and 
 (d) Holdings ceases to own and control, of record and beneficially, directly or indirectly, 100% of
each class of outstanding Equity Interests of the Company. 
 provided that the creation of a Parent Company shall not in and of
itself cause a Change of Control. 
 “Closing” is defined in Section 3(a). 

“Closing Date” is defined in Section 4.1. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations
promulgated thereunder from time to time. 
 “Company” is defined in the preamble hereto. 

“Company Materials” is defined in Section 18. 

“Company Percentage of Group Tax” means the percentage obtained by dividing (a) the income Tax that the Company
and its Subsidiaries would have been required to pay for the relevant period if they had been a standalone group (computed at the highest marginal tax rate) by (b) the income Tax that is required to be paid by the consolidated group the parent
of which is Holdings. 
 “Company Competitor” means (a) any competitor of the Company and/or any of its
subsidiaries and (b) any Affiliate of any such competitor. 
 “Confidential Information” is defined in
Section 20. 
 “Consolidated Depreciation and Amortization Expense” means, with respect to any Person for any
period, (a) the total amount of depreciation and amortization expense, including without limitation the amortization of intangible assets (including amortization of deferred launch costs), deferred financing fees and Capitalized Software
Expenditures, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in 

  
 B-8 

 
accordance with GAAP and (b) the depreciation of assets of such Person and its subsidiaries acquired under capital leases, which is expensed in cost of goods sold and not included in
depreciation and amortization under GAAP. 
 “Consolidated First Lien Debt Ratio” means, as of any date of
determination, the ratio of the sum of (1) (a) Consolidated Total Indebtedness of such Person and its Restricted Subsidiaries that is secured by a first priority Lien as of such date of determination and (b) the Reserved Indebtedness Amount
secured by a first priority Lien as of such date of determination to (2) EBITDA of such Person and its Restricted Subsidiaries, in each case with such pro forma adjustments to Consolidated Total Indebtedness and EBITDA as are appropriate
and consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio. 

“Consolidated Interest Expense” means, with respect to any Person for any period, without duplication, the sum of:

 (a) consolidated interest expense of such Person and its Restricted Subsidiaries paid or payable in respect of such
period, to the extent such expense was deducted (and not added back) in computing Consolidated Net Income (including (a) amortization of original issue discount resulting from the issuance of Indebtedness at less than par and other bank,
administrative agency (or trustee) and financing fees, (b) all commissions, discounts and other fees and charges owed with respect to letters of credit, bank guarantees, bankers’ acceptances, ancillary facilities or any similar facility or
financing and hedging agreements, (c) non-cash interest payments (but excluding any non-cash interest expense attributable to the movement in the mark to market
valuation of Hedging Obligations or other derivative instruments pursuant to GAAP), (d) the interest component of Capitalized Lease Obligations, and (e) net payments, if any, made (less net payments, if any, received) pursuant to interest rate
Hedging Obligations with respect to Indebtedness, and excluding (i) penalties and interest related to taxes, (ii) amortization of deferred financing fees, debt issuance costs, discounted liabilities, commissions, fees and expenses,
(iii) any expensing of bridge, commitment and other financing fees, (iv) commissions, discounts, yield and other fees and charges (including any interest expense) related to any Receivables Facility and (v) any expense resulting from
the discounting of Indebtedness in connection with the application of recapitalization accounting or, if applicable, acquisition accounting; plus 

(b) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or accrued;
less 
 (c) interest income of such Person and its Restricted Subsidiaries for such period. 

For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate
reasonably determined by the Company to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Consolidated Net Income” means, with respect to any Person for any period, the aggregate of the Net Income, of such
Person and its Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP; provided, however, that, without duplication, 

  
 B-9 

 (a) any extraordinary, non-recurring or
unusual gains, income, losses, expenses or charges (including costs of and payments of actual or prospective legal settlements, fines, judgments or orders), Transaction Expenses, severance, relocation costs, integration costs, consolidation and
costs related to the opening, closure, relocation and/or consolidation of facilities, signing, retention or completion costs and bonuses, recruiting costs, recruiting and hiring bonuses, transition costs, costs incurred in connection with
acquisitions (whether or not consummated) after the Closing Date (including integration costs), consulting fees, legal fees and taxes related to issuances of significant options and curtailments or modifications to pension and post-retirement
employee benefit plans and corporate reorganization shall be excluded, 
 (b) the Net Income for such period shall not
include the cumulative effect of a change in accounting principles during such period (including any impact of changes to inventory valuation methods, including changes in capitalization and variances and
non-cash adjustments for LIFO accounting), 
 (c) any gains, charges or losses with
respect to disposed, abandoned, closed or discontinued operations (other than assets held for sale) and any accretion or accrual of discounted liabilities and on the disposal of disposed, abandoned and discontinued operations and facilities, plans
or distribution centers that have been closed during such period, shall be excluded, 
 (d) any gains, income, losses,
expenses or charges (less all fees and expenses relating thereto) attributable to asset dispositions (including asset retirement costs) or returned surplus assets of any employee pension benefit plan other than in the ordinary course of business
shall be excluded, 
 (e) the Net Income (or loss) for such period of any Person that is not a Subsidiary, or is an
Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be excluded; provided that Consolidated Net Income of such Person shall be increased by the amount of dividends or distributions or other payments (including
any ordinary course dividend, distribution or other payment) that are actually paid in cash (or to the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period by such Person, 

(f) solely for the purpose of determining the amount available for Restricted Payments under Section 10.1(a)(iv)(3)(A), the Net
Income for such period of any Restricted Subsidiary (other than any Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of its Net Income is not at the date
of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or
governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived, provided that Consolidated Net Income will be
increased by the amount of dividends or other distributions or other payments actually paid in cash (or to the extent converted into cash) to the referent Person or any of its Restricted Subsidiaries thereof in respect of such period, to the extent
not already included therein, 

  
 B-10 

 (g) effects of adjustments (including the effects of such adjustments pushed down
to such Person and its Restricted Subsidiaries) in the Person’s consolidated financial statements pursuant to GAAP (including in the inventory, property and equipment, leases, rights, fee arrangements, software, goodwill, intangible assets, in-process research and development, deferred revenue, deferred rent, deferred trade incentives and other lease-related items, advance billings and debt line items thereof) resulting from the application of
recapitalization accounting or acquisition method of accounting, as the case may be, in relation to the Transactions or any consummated acquisition or the amortization or write-off or removal of revenue
otherwise recognizable on any amounts thereof, net of taxes, shall be excluded or added back in the case of lost revenue, 

(h) any income (loss) (less all fees and expenses or charges related thereto) from the early extinguishment or conversion of
Indebtedness or Hedging Obligations or other derivative instruments shall be excluded, 
 (i) any (a) goodwill or other
asset impairment charges, write-offs or write-downs or (b) amortization of intangibles shall be excluded, 
 (j) any
taxes based on income, profits, or capital that are not paid or payable currently in cash (i.e., non-cash book tax amounts) shall be excluded, 

(k) any non-cash compensation charge, cost, expense, accrual or reserve including any
such charge, cost, expense, accrual or reserve arising from the grant of stock appreciation or similar rights, stock options, restricted stock or other equity incentive programs, and any cash charges associated with the rollover, acceleration or
payment of management equity in connection with the Transactions shall be excluded, 
 (l) any fees, commissions and expenses
incurred during such period, or any amortization or write-off thereof for such period in connection with any acquisition, Investment, Asset Sale, issuance or repayment of Indebtedness, issuance of Equity
Interests, refinancing transaction or amendment or modification of any debt instrument (in each case, including any such transaction consummated prior to the Closing Date and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of any such transaction shall be excluded, 

(m) accruals and reserves that are established or adjusted within twelve months after the Closing Date that are so required to
be established or adjusted as a result of the Transactions in accordance with GAAP shall be excluded, 
 (n) any unrealized
or realized net gain or loss resulting from currency translation or transaction gains or losses impacting net income (including currency remeasurements of Indebtedness), any net loss or gain resulting from hedge agreements for currency exchange risk
associated with the above or any other currency related risk and those resulting from intercompany Indebtedness) and any foreign currency translation or transaction gains or losses shall be excluded, 

  
 B-11 

 (o) any unrealized net gains and losses resulting from Hedging Obligations and
the application of Accounting Standards Codification #815 as promulgated by the Financial Accounting Standards Board shall be excluded, 

(p) to the extent covered by insurance and actually reimbursed, or, so long as the Company has made a good faith determination
that it expects to receive reimbursement within 365 days (with a deduction for any amount so added back to the extent not so reimbursed within such 365 days), (x) the amount of any fee, cost, expense or reserve with respect to liability or casualty
events or business interruption shall be excluded, and (y) proceeds of such insurance in an amount representing the earnings for the applicable period that such proceeds are intended to replace shall be included, and 

(q) to the extent actually reimbursed or reimbursable by third parties pursuant to indemnification or reimbursement provisions
or similar agreements or insurance, fees, costs, expenses or reserves incurred to the extent covered by indemnification provisions in any agreement in connection with any sale of Capital Stock, acquisition, Permitted Investment, Restricted Payment,
Asset Sale, disposition, recapitalization, mergers, consolidations or amalgamations, option buyouts or incurrences, repayments, refinancings, amendments or modifications of Indebtedness (in each case, including any such transaction consummated prior
to the Closing Date) shall be excluded. 
 Notwithstanding the foregoing, for the purpose of Section 10.1 only (other
than Section 10.1(a)(iv)(3)(D)), there shall be excluded from Consolidated Net Income any income arising from any sale or other disposition of Restricted Investments made by the Company and its Restricted Subsidiaries, any repurchases and
redemptions of Restricted Investments from the Company and its Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted Investments by the Company or any of its Restricted Subsidiaries, any sale of the stock of an
Unrestricted Subsidiary or any distribution or dividend from an Unrestricted Subsidiary, in each case only to the extent such amounts increase the amount of Restricted Payments permitted under Sections 10.1(a)(iv)(3)(D) and 10.1(b)(vii). 

“Consolidated Total Assets” means, at any date, all amounts that would, in conformity with GAAP, be set forth
opposite the caption “total assets” (or like caption) on a consolidated balance sheet of the Company and its Subsidiaries at such date, determined with such pro forma adjustments as are appropriate and consistent with the pro forma
adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio. 
 “Consolidated Total
Indebtedness” means, as to any Person as at any date of determination, an amount equal to (x) the sum of (1) the aggregate amount of all outstanding Indebtedness (other than Indebtedness incurred in connection with any NMTC
Transaction permitted under Section 10.2(b)(xxix)) of such Person and its Restricted Subsidiaries on a consolidated basis consisting of Indebtedness for borrowed money, Obligations in respect of Capitalized Lease Obligations and debt obligations
evidenced by promissory notes and similar instruments, including for the avoidance of doubt any Indebtedness contemplated under Section 10.1(b)(xv)(3), and (2) the aggregate amount of all outstanding Disqualified Stock of such Person and all
Preferred Stock of its Restricted Subsidiaries on a consolidated basis, with the amount of such Disqualified Stock and Preferred Stock equal to the greater of their respective 

  
 B-12 

 
voluntary or involuntary liquidation preferences and maximum fixed repurchase prices, in each case determined on a consolidated basis in accordance with GAAP, less unrestricted cash and Cash
Equivalents included on the consolidated balance sheet of such Person and any Restricted Subsidiaries as of such date; provided that “Consolidated Total Indebtedness” shall exclude any obligation, liability or indebtedness of such
Person if, upon or prior to the maturity date thereof, such Person has irrevocably deposited with the proper Person in trust or escrow the necessary funds (or evidences of indebtedness) for the payment, redemption or satisfaction of such obligation,
liability or indebtedness, and thereafter such funds and evidences of such obligation, liability or indebtedness or other security so deposited are not included in unrestricted cash and Cash Equivalents, in accordance with GAAP. For purposes hereof,
the “maximum fixed repurchase price” of any Disqualified Stock or Preferred Stock that does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock or Preferred Stock as if such
Disqualified Stock or Preferred Stock were purchased on any date on which Consolidated Total Indebtedness shall be required to be determined pursuant to this Agreement, and if such price is based upon, or measured by, the fair market value of such
Disqualified Stock or Preferred Stock, such fair market value shall be determined reasonably and in good faith by the Company. 

“Consolidated Total Leverage Ratio” means, as of any date of determination, the ratio of the sum of (1)(a)
Consolidated Total Indebtedness of such Person and its Restricted Subsidiaries as of such date of determination and (b) the Reserved Indebtedness Amount as of such date of determination to (2) EBITDA of such Person and its Restricted
Subsidiaries, in each case with such pro forma adjustments to Consolidated Total Indebtedness and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio. 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases,
dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation
of such Person, whether or not contingent, 
 (a) to purchase any such primary obligation or any property constituting direct
or indirect security therefor, 
 (b) to advance or supply funds 

(i) for the purchase or payment of any such primary obligation, or 

(ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of
the primary obligor, or 
 (c) to purchase property, securities or services primarily for the purpose of assuring the owner
of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 

“Contractual Obligation” means, as applied to any Person, any provision of any Security issued by that Person or of
any indenture, mortgage, deed of trust, contract, undertaking, agreement or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it or any of its properties is subject. 

  
 B-13 

 “Control Event” means the execution by the Company of a definitive
written agreement (excluding, for the avoidance of doubt, any letter of intent) that, when fully performed by the parties thereto, would result in a Change of Control. 

“Controlled Entity” means (a) any of the Subsidiaries of the Company and any of their or the Company’s
respective Affiliates and (b) any parent company of the Company and such parent company’s Affiliates. 

“Copyright” means the following: (a) all copyrights, rights and interests in copyrights, works protectable by
copyright whether published or unpublished, copyright registrations and copyright applications; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the
foregoing, including, without limitation, damages or payments for past or future infringements for any of the foregoing; (d) the right to sue for past, present, and future infringements of any of the foregoing; and (e) all rights
corresponding to any of the foregoing. 
 “CPQ” means CPQ Midco I Corporation. 

“Credit Facilities” means, with respect to the Company or any Restricted Subsidiary, one or more debt facilities,
including the Senior Credit Facilities, or other financing arrangements (including, without limitation, commercial paper facilities with banks or other institutional lenders or investors or indentures) providing for revolving credit loans, term
loans, letters of credit or other long-term indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions,
renewals, restatements, amendments and restatements, or refundings thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that refinance any part of the loans, notes or
other securities, other credit facilities or commitments thereunder, including any such refinancing facility or indenture that increases the amount permitted to be borrowed thereunder or alters the maturity thereof (provided that such increase in
borrowings is permitted under Section 10.2) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender or group of lenders. 

“Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of
Default. 
 “Default Rate” means 2% per annum above the then applicable Adjusted LIBOR Rate. 

“Designated Non-cash Consideration” means the fair market value of non-cash consideration received by the Company or a Restricted Subsidiary in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant
to an Officer’s Certificate, setting forth the basis of such valuation, less the amount of Cash Equivalents received in connection with a subsequent sale, redemption, repurchase of, or collection or payment on, such Designated Non-cash Consideration. 

  
 B-14 

 “Designated Preferred Stock” means Preferred Stock of the Company, any
Restricted Subsidiary or any direct or indirect parent company thereof (in each case other than Disqualified Stock) that is issued for cash (other than to a Restricted Subsidiary or an employee stock ownership plan or trust established by the
Company or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officer’s Certificate, on the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth in Section
10.1(a)(iv)(3). 
 “Disqualified Institution” means (i) any Person that is or becomes a Company Competitor and
is designated by the Company as such in a writing provided to the Agent after the date hereof, which designation shall not apply retroactively to disqualify any Person that has purchased the Notes and (ii) any Affiliate of any such Company
Competitor that is reasonably identifiable on the basis of such Affiliate’s name or that the Company has otherwise identified as an Affiliate; provided that an entity becoming an Affiliate of a Company Competitor shall not retroactively
disqualify any Person that has previously purchased the Notes. 
 “Disqualified Stock” means, with respect to any
Person, any Capital Stock of such Person which, by its terms, or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable, or upon the happening of any event, matures or is mandatorily redeemable (other
than solely as a result of a change of control or asset sale) pursuant to a sinking fund obligation or otherwise or is redeemable at the option of the holder thereof (other than solely as a result of a change of control or asset sale), in whole or
in part, in each case prior to the date 91 days after the earlier of the maturity date of the Notes or the date the Notes are no longer outstanding; provided, however, that if such Capital Stock is issued to any current or former employee or
to any plan for the benefit of employees, directors, officers, members of management or consultants of the Company or its Subsidiaries or by any such plan to such employees, directors, officers, members or management or consultants, such Capital
Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Company or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s,
director’s, officer’s, management member’s or consultant’s termination, death or disability. 

“Domestic Subsidiary” means a Subsidiary incorporated or organized under the laws of the United States of America,
any State thereof or the District of Columbia. 
 “EBITDA” means, with respect to any Person for any period, the
Consolidated Net Income of such Person for such period 
 (a) increased (without duplication) by: 

(i) provision for taxes based on income or profits or capital (including pursuant to any tax sharing or tax distribution arrangements),
including, without limitation, federal, state, local, provincial, foreign, excise, franchise, property and similar taxes and foreign withholding taxes and foreign unreimbursed value added taxes (including, in each case, penalties and interest
related to such taxes or arising from tax examinations) of or with respect to such Person paid or accrued during such period deducted (and not added back) in computing Consolidated Net Income; plus 

  
 B-15 

 (ii) Fixed Charges of such Person for such period plus bank fees and costs of surety bonds in
connection with financing activities, plus amounts excluded from Consolidated Interest Expense as set forth in clauses (i), (ii), (iii), (iv) and (v) in the definition thereof, to the extent the same were deducted (and not added back) in
calculating such Consolidated Net Income plus commissions, discounts and other fees and charges owed with respect to letters of credit, bankers’ acceptance or any similar facilities or financing and Hedging Obligations; plus 

(iii) Consolidated Depreciation and Amortization Expense of such Person for such period to the extent the same was deducted (and not added
back) in computing Consolidated Net Income; plus 
 (iv) (a) Transaction Expenses and (b) transaction fees, costs and
expenses (including rationalization, legal, tax and structuring fees, costs and expenses) incurred (1) in connection with the consummation of any transaction (or any transaction proposed and not consummated) permitted under this Agreement,
including any Equity Offering, Permitted Investment, Restricted Payments, acquisitions, dispositions, recapitalizations, mergers, consolidations or amalgamations, option buyouts or incurrences, repayments, refinancings, amendments or modifications
of Indebtedness (including any amortization or write-off of debt issuance or deferred financings costs, premiums and prepayment penalties) or similar transactions) or any Qualifying IPO, including
(x) such fees, expenses or charges related to the offering of the Notes, the Senior Credit Facilities, the Secured Notes and the Receivables Facility, (y) any amendment or other modification of the Notes, any Credit Facility, the Secured
Notes, the Existing Senior Notes and the Receivables Facility and (z) commissions, discounts, yield and other fees and charges (including any interest expense related to any Receivables Facility), in each case, deducted (and not added back) in
computing Consolidated Net Income; plus 
 (v) the amount of any costs, charges, accruals, reserves or expenses attributable to the
undertaking and/or implementation of cost savings (including sourcing), operating expense reductions, operating improvements, product margin synergies and product cost and other synergies and similar initiatives, integration, transition,
reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for alternative uses, restructuring costs (including those related to tax restructurings), charges, accruals, reserves or expenses attributable to the undertaking
and/or implementation of cost savings initiatives, operating expense reductions, business optimization and other restructuring costs, charges, accruals, reserves and expenses (including, without limitation, inventory optimization programs, software
development costs, the opening, closure, relocation and/or consolidation of facilities and plants, unused warehouse space costs, costs related to entry into new markets, unused warehouse space costs, and consulting and other professional fees,
signing or retention costs, retention or completion charges or bonuses, relocation expenses, severance payments, curtailments and modifications to or losses on settlement of pension and post-retirement employee benefit plans, excess pension charges,
pension related charges under FASB ASC 715, accretion of asset retirement obligations in accordance with FASB ASC 410, contract termination costs, future lease commitments, new system design and implementation costs and project startup costs and
expenses attributable to the implementation of cost savings initiatives and professional and consulting fees incurred in connection with any of the foregoing); plus 

(vi) any other non-cash charges or losses, including (a) any write offs or write downs,
(b) the vesting of warrants and stock options and other equity based awards compensation, (c) 

  
 B-16 

 
losses on sales, disposals or abandonment of, or any impairment charges or asset write off related to, intangible assets, long-lived assets and investments in debt and equity securities,
(d) all losses from investments recorded using the equity method (other than to the extent funded with cash) and (e) other non-cash charges, non-cash expenses
or non-cash losses reducing Consolidated Net Income for such period (provided that if any such non-cash charges, expenses or losses represent an accrual or reserve for
potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from EBITDA to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period); plus 

(vii) the amount of any minority interest expense consisting of Subsidiary income attributable to minority equity interests of third parties
in any non-Wholly-Owned Subsidiary deducted (and not added back) in such period in calculating Consolidated Net Income; plus 

(viii) the amount of management, monitoring, consulting, transaction and advisory fees (including termination fees) and related indemnities
and expenses paid or accrued in such period to the Permitted Holders or other persons with a similar interest in the Company or its direct or indirect parent companies to the extent otherwise permitted under Section 10.5 and deducted (and not
added back) in such period in computing Consolidated Net Income; plus 
 (ix) expected cost savings (including sourcing), operating
expense reductions, other operating improvements and expense reductions and product margin synergies and product cost and other synergies projected by the Company in good faith to be realized as a result (i) the Transactions, and
(ii) specified actions taken or to be taken by the Company or any of its Restricted Subsidiaries (calculated on a pro forma basis as though such cost savings, operating improvements and expense reductions and synergies had been realized on the
first day of such period and as if such cost savings, operating improvements and expense reductions and synergies were realized during the entirety of such period), net of the amount of actual benefits realized during such period from such actions;
provided that such cost savings, expense reductions, operating improvements and synergies are reasonably identifiable and factually supportable and are reasonably anticipated to be realized within 18 months after the change, acquisition or
disposition that is expected to result in such cost savings, expense reductions, or operating improvements and other synergies (which adjustments may be incremental to pro forma adjustments made pursuant to the definition of “Fixed Charge
Coverage Ratio”), provided that the aggregate amount of addbacks made under this clause (ix) shall not exceed an amount equal to 25% of EBITDA for the period of four consecutive fiscal quarters most recently ended (and such determination
shall be made prior to the making of, and without giving effect to, any adjustments pursuant to this clause (ix)); plus 
 (x) the
amount of loss on sale of receivables and related assets to the Receivables Subsidiary in connection with a Receivables Facility; plus 

(xi) (a) any charges, costs, expenses, accruals or reserves incurred by the Company or a Restricted Subsidiary pursuant to any management
equity plan, profits interest or stock option plan or any other management or employee benefit plan or agreement, pension plan or other long-term or post-employment benefit, any stock subscription or shareholder agreement or any distributor equity
plan or agreement, including any fair value adjustments that may be required under liquidity puts for such arrangements, (b) any charges, costs, expenses, accruals or reserves in connection with the rollover, acceleration or payout of Capital
Stock held by management of the 

  
 B-17 

 
Company, any direct or indirect parent company and/or any of its subsidiaries, in each case to the extent that such charges, costs, expenses, accruals or reserves are funded with cash proceeds
contributed to the capital of the Company as a result of capital contribution or as a result of the sale or issuance of Capital Stock (other than Disqualified Stock) of the Company solely to the extent that such net cash proceeds are excluded from
the calculation set forth in Section 10.1(a)(iv)(3) and (c) any charges, costs, or expenses incurred in respect of bonus payments pursuant to employee incentive programs (including any bonus plans) that exceed 100% of the total amount projected
for such payments, plus 
 (xii) cash receipts (or any netting arrangements resulting in reduced cash expenditures) not representing
EBITDA or Net Income in any period to the extent non-cash gains relating to such income were deducted in the calculation of EBITDA pursuant to clause (b) of this definition of “EBITDA” below for
any previous period and not added back; plus 
 (xiii) earn-out and contingent consideration
obligations incurred or accrued in connection with any acquisition or other Permitted Investment and paid or accrued during such period and on similar acquisitions and Permitted Investments completed prior to the Closing Date, plus 

(xiv) with respect to any joint venture that is not a Restricted Subsidiary, an amount equal to the proportion of those items described in
clauses (a)(i) to (a)(iii) of this definition of “EBITDA” relating to such joint venture corresponding to such Person’s and its Restricted Subsidiaries’ proportionate share of such joint venture’s Consolidated Net Income
(determined as if such joint venture were a Restricted Subsidiary), plus 
 (xv) costs associated with, or in anticipation of, or
preparation for, compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith and Public Company Costs, plus 

(xvi) at the option of the Company, (A) the excess of GAAP rent expense over actual cash rent paid, including the benefit of lease
incentives (in the case of a charge) during such period due to the use of straight line rent or the application of fair value adjustments made as a result of recapitalization or purchase accounting, in each case, for GAAP purposes, (B) the non-cash amortization of tenant allowances and (C) the cash portion of sublease rentals received by such Person; provided that, in each case, if any such non-cash charge
represents an accrual or reserve for potential cash items in any future period, such Person may determine not to add back such non-cash charge in the current period, plus 

(xvii) the Consolidated Net Income attributable to the percentage ownership of any joint venture that is accounted for under the equity method
attributable to the Company, plus 
 (xviii) the amount of travel expenses, payroll taxes, indemnification payments, director’s
fees and any other charges, costs, expenses, accruals or reserves incurred in connection with, or amounts payable to, any director of the board of the Company or its parent entities in connection with such director serving as a member of such Board
of Directors and performing his or her duties in respect thereof, plus 
 (xix) Synthetic Lease Obligations, to the extent deducted
as an expense in such period, plus 

  
 B-18 

 (xx) other add-backs and adjustments reflected in the
model made available to the Lead Purchasers on Intralinks in April 2016. 
 (b) decreased (without duplication) by: 

(i) non-cash gains increasing Consolidated Net Income of such Person for such period, excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced EBITDA in any prior period and any non-cash gains with
respect to cash actually received in a prior period so long as such cash did not increase EBITDA in such prior period, plus 
 (ii)
any net income from disposed or discontinued operations; and 
 (c) increased or decreased by (without duplication), as
applicable, any adjustments resulting from the application of ASC Topic Number 460 (Guarantees). 
 For purposes of testing
the covenants under this Agreement in connection with any transactions, the EBITDA of the Company and the Restricted Subsidiaries shall be further adjusted to reflect such pro forma adjustments as are appropriate and consistent with the
pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio (other than as set forth in the proviso of the first paragraph of such definition). 

“Eco Opco” means Eco Services Operations LLC. 

“Eligible Assignees” means (a) a Purchaser, (b) a financial institution or any other “accredited
investor” (as defined in Regulation D of the Securities Act or (c) any Affiliate of a Purchaser, provided that in any event, “Eligible Assignee” shall not include (i) any natural person or (ii) any Disqualified
Institution. 
 “EMU” means economic and monetary union as contemplated in the Treaty on European Union. 

“Environmental Claim” means any claim, written notice, demand, order, action, suit, or proceeding alleging liability
for or obligation with respect to any investigation, remediation, removal, cleanup, response, corrective action, damages to natural resources, personal injury, property damage, fines, penalties or other costs resulting from, related to or arising
out of (i) the presence, Release or threatened Release of Hazardous Material at any location or (ii) any violation or alleged violation of any Environmental Law, and shall include any claim seeking damages, contribution, indemnification,
cost recovery, compensation or injunctive relief resulting from, related to or arising out of the presence, Release, or threatened Release of Hazardous Material. 

“Environmental Law” means any and all present and future applicable federal, state, local, and foreign treaties,
laws, statutes, ordinances, regulations, rules, decrees, orders, judgments, consent orders, consent decrees, code or other legally binding requirements, in each case having the force and effect of law, and the common law, including possessing all
applicable Environmental Permits and compliance with requirements thereof, relating to protection of the environment, employee health and safety or Hazardous Materials, including, without limitation,

  
 B-19 

 
CERCLA; RCRA; the Federal Water Pollution Control Act, 33 U.S.C. § 1251 et seq.; the Clean Air Act, 42 U.S.C. § 7401 et seq.; the Safe Drinking Water Act, 42 U.S.C. § 300f
et seq.; the Oil Pollution Act of 1990, 33 U.S.C. § 2701 et seq.; the Emergency Planning and the Community Right-to-Know Act of 1986, 42 U.S.C. §
11001 et seq., the Hazardous Material Transportation Act, 49 U.S.C. § 5101 et seq., and the Occupational Safety and Health Act, 29 U.S.C. § 651 et seq. (to the extent it regulates occupational exposure to Hazardous
Materials). 
 “Environmental Permit” means any permit, license, approval, registration, notification, exemption,
consent or other authorization required by or from a Governmental Authority under Environmental Law. 
 “Equity
Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock, but excluding any debt security that is convertible into, or exchangeable for, Capital Stock. 

“Equity Offering” means any public or private sale of common stock or Preferred Stock of the Company or any of its
direct or indirect parent companies (excluding Disqualified Stock), other than: 
 (a) public offerings with respect to the
Company’s or any direct or indirect parent company’s common stock registered on Form S-8; 

(b) issuances to any Subsidiary of the Company; and 

(c) any such public or private sale that constitutes an Excluded Contribution. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and
regulations promulgated thereunder from time to time in effect. 
 “ERISA Affiliate” means any trade or business
(whether or not incorporated) that is treated as a single employer together with the Company or any Restricted Subsidiary under Section 414(b), (c), (m) or (o) of the Code. 

“ERISA Event” means (a) a “reportable event” within the meaning of Section 4043 of ERISA and the
regulations issued thereunder with respect to any Pension Plan (excluding those for which the 30-day notice period has been waived); (b) the failure to meet the minimum funding standard of Section 412 or
430 of the Code or Section 302 or 303 of ERISA with respect to any Pension Plan, or the filing of any request for or receipt of a minimum funding waiver under Section 412 of the Code with respect to any Pension Plan or a failure to make a
required contribution to a Multiemployer Plan; (c) the provision by the administrator of any Pension Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate such plan in a distress termination described in
Section 4041(c) of ERISA; (d) the withdrawal by the Company, any of its Restricted Subsidiaries or any of their respective ERISA Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such Pension
Plan resulting in liability to the Company, any of its Restricted Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4063 or 4064 of ERISA; (e) the institution by the PBGC of proceedings to terminate any Pension
Plan; (f) the imposition of liability on the Company, any of 

  
 B-20 

 
its Restricted Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA;
(g) a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) of the Company, any of its Restricted Subsidiaries or any of their respective ERISA Affiliates from any Multiemployer Plan, or the receipt by the
Company, any of its Restricted Subsidiaries or any of their respective ERISA Affiliates of notice from any Multiemployer Plan that it is in reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA, or that it intends to terminate
or has terminated under Section 4041A or 4042 of ERISA or is in “endangered” or “critical” status, within the meaning of Section 432 of the Code or Section 305 of ERISA; (h) a failure by the Company, any of
its Restricted Subsidiaries or any of their respective ERISA Affiliates to pay when due (after expiration of any applicable grace period) any installment payment with respect to withdrawal liability under Section 4201 of ERISA; (i) a
determination that any Pension Plan is, or is reasonably expected to be, in “at-risk” status, within the meaning of Section 430(i)(4) of the Code or Section 303(i)(4) of ERISA; or (j) the
incurrence of liability or the imposition of a Lien pursuant to Section 436 or 430(k) of the Code or pursuant to Section 303(k) ERISA with respect to any Pension Plan. 

“euro” means the single currency of participating member states of the EMU. 

“Event of Default” is defined in Section 11. 

“Excess Proceeds” is defined in Section 8.4(a). 

“Excess Tax Distribution” means, for any year, the excess of (x) Permitted Tax Distributions made to fund
estimated Tax payments for such year, over (y) the income Tax determined to be the Company Percentage of Group Tax due for such year. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC
promulgated thereunder. 
 “Excluded Contribution” means net cash proceeds, marketable securities or Qualified
Proceeds received by the Company after the Closing Date from: 
 (a) contributions to its common equity capital, and 

(b) the sale (other than to a Subsidiary of the Company or to any management equity plan or stock option plan or any other
management or employee benefit plan or agreement of the Company) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Company, in each case designated as Excluded Contributions pursuant to an Officer’s
Certificate on or promptly after the date such capital contributions are made or the date such Equity Interests are sold, as the case may be, which are excluded from the calculation set forth in Section 10.1(a)(iv)(3). 

“Existing Eco Credit Agreement” means that certain credit agreement (as amended, restated or otherwise modified from
time to time), dated as of December 1, 2014, by and among Eco Opco, a Delaware limited liability company, as the borrower, Eco Services Intermediate Holdings LLC, a Delaware limited liability company, as holdings, the lenders from time to time
party thereto and Credit Suisse AG, Cayman Islands Branch, as issuing bank, administrative agent and collateral agent. 

  
 B-21 

 “Existing PQ Credit Agreement” means that certain credit agreement (as
amended, restated or otherwise modified from time to time), dated as of November 8, 2012, by and among the Company, as the borrower, CPQ Midco I Corporation, a Delaware corporation, as holdings, each lender from time to time party thereto,
JPMorgan Chase Bank, N.A., as L/C issuer and Credit Suisse AG, Cayman Islands Branch, as administrative agent, swing line lender and L/C issuer. 

“Existing Senior Notes” means the 8.500% Senior Notes due 2022 issued pursuant to an indenture dated as of
October 24, 2014, by and among Eco Opco and Eco Finance Corp. as issuers and Wilmington Trust, National Association, as Trustee. 

“Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a
transaction not involving distress or necessity of either party, determined in good faith by the Board of Directors of the Company in the case of amounts of $30.0 million or more and otherwise by an officer of the Company (unless otherwise
provided in this Agreement). 
 “FACTA” means Sections 1471 through 1474 of the Code, any current or future
regulations or official interpretations thereof, any agreements entered into pursuant to current Section 1471(b)(1) of the Code, any intergovernmental agreement between the U.S. and any other jurisdiction that facilitates the implementation of such
Sections of the Code and any treaty, law, regulation or other official guidance issued under or with respect to the foregoing. 

“FCPA” means the Foreign Corrupt Practices Act of 1977, as amended. 

“Fixed Charge Coverage Ratio” means, with respect to any Person for any period, the ratio (1) EBITDA of such
Person and its Restricted Subsidiaries for such period to (2) the Fixed Charges of such Person and its Restricted Subsidiaries the most recently ended four fiscal quarters for which internal financial statements are available immediately
preceding the Calculation Date. In the event that such Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repurchases, redeems, retires or extinguishes any Indebtedness (other than Indebtedness under any revolving credit
facility or revolving advances under any Receivables Facility, in which case interest expense shall be computed based upon the average daily balance of such Indebtedness during such applicable period) or issues, repurchases or redeems Disqualified
Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but prior to or simultaneously with the event for which the calculation of the Fixed Charge Coverage Ratio is made
(the “Fixed Charge Coverage Ratio Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee, repurchase, redemption, retirement or extinguishment of
Indebtedness, or such issuance, repurchase or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period for which internal financial statements are available; provided,
however, that the pro forma calculation shall not give any effect to any Indebtedness incurred on such determination date pursuant to Section 10.2(b). 

  
 B-22 

 For purposes of making the computation referred to above, Investments,
acquisitions, dispositions, amalgamations, mergers (including the Transactions), consolidations and discontinued operations (as determined in accordance with GAAP), Subsidiary designations and any operational changes or cost savings initiatives that
the Company or any of its Restricted Subsidiaries has determined to make/or has made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Fixed Charge Coverage Ratio
Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, amalgamations, mergers, consolidations, discontinued operations and operational changes (and the change in any associated fixed
charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged,
amalgamated or consolidated with or into the Company or any of its Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition, disposition, amalgamation, merger, consolidation, discontinued operation or
operational change that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition,
discontinued operation, merger, amalgamation, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. 

If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness
shall be calculated as if the rate in effect on the Fixed Charge Coverage Ratio Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). Interest on a
Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Company to be the rate of interest implicit in such Capitalized Lease Obligation in accordance
with GAAP. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually
chosen, or, if none, then based upon such optional rate chosen as the Company may designate. Interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such
indebtedness during the applicable period. 
 For purposes of this definition, any amount in a currency other than U.S.
dollars will be converted to U.S. dollars based on the average exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination in a manner consistent with GAAP. 

“Fixed Charge Coverage Ratio Calculation Date” is defined in the definition of “Fixed Charge Coverage
Ratio.” 
 “Fixed Charges” means, with respect to any Person for any period, the sum, without duplication, of:

 (a) Consolidated Interest Expense of such Person for such period; 

  
 B-23 

 (b) all cash dividends or other distributions paid (excluding items eliminated in
consolidation) on any series of Preferred Stock during such period; 
 (c) all cash dividends or other distributions paid
(excluding items eliminated in consolidation) on any series of Disqualified Stock during such period; and 
 (d) all cash
dividends or other distributions paid pursuant to Section 10.1(b)(xv)(3). 
 “Foreign Disposition” is defined in
Section 10.7. 
 “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 

“Forms” is defined in Section 22.2. 

“GAAP” means generally accepted accounting principles in the United States which are in effect on the Closing Date,
except for any reports required to be delivered under Section 7.1, which shall be prepared in accordance with GAAP in effect on the date thereof. At any time after the Closing Date, the Company may irrevocably elect to apply IFRS accounting
principles in lieu of GAAP, and upon any such election, references herein to GAAP shall thereafter be construed to mean IFRS pursuant to the previous sentence. 

“Government Official” means any officer, director, or employee of any Governmental Authority. Without limiting the
foregoing, “Government Official” includes any government officer, director, or employee, any officer, director, or employee of any government-controlled entity, public international organization, or state-owned or -controlled (in whole or
in part) corporation, business, or organization, any Person acting in an official capacity for or on behalf of any Governmental Authority, or any political party, party official, or candidate for public office. 

“Governmental Authority” means any federal, state, municipal, national or other government, governmental department,
commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government or any court
(including any supra-national body or public international organization exercising such powers or functions, such as the European Union or the European Central Bank), in each case whether associated with a state or locality of the U.S., the U.S., or
a foreign government. Without limiting the foregoing, “Governmental Authority” includes or any state-owned or -controlled (in whole or in part) corporation, business, or organization of any country. 

“guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary
course of business), direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. 

“Guarantee” is defined in Section 1.2(a). 

“Guarantor” means each Person that Guarantees the Notes in accordance with the terms of this Agreement. 

  
 B-24 

 “Hazardous Material” means (a) any petroleum or petroleum
products, radioactive materials, asbestos or asbestos containing materials, urea formaldehyde foam insulation, polychlorinated biphenyls (PCBs), and radon gas; (b) any chemicals, materials or substances defined as or included in the definition
of “hazardous substances,” “hazardous waste,” “hazardous materials,” “extremely hazardous substances,” “restricted hazardous waste,” “toxic substances,” “toxic pollutants,”
“contaminants,” or “pollutants,” or words of similar import, under any applicable Environmental Law; and (c) any other chemical, material or substance that might pose a hazard to health or safety and is regulated under any
Environmental Law. 
 “Hedging Obligations” means, with respect to any Person, the obligations of such Person under
any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity collar agreement, foreign exchange contract, currency swap agreement or similar agreement
providing for the transfer or mitigation of interest rate, commodity price or currency risks either generally or under specific contingencies (including, for the avoidance of doubt, under all “Hedging Obligations” as defined in the Senior
Credit Facilities). 
 “holder” means, with respect to any Note, the Person in whose name such Note is registered
in the register maintained by the Company pursuant to Section 13.1. 
 “Holdings” means PQ Holdings Inc. 

“IFRS” means international accounting standards within the meaning of IAS Regulation 1606/2002, as in effect from
time to time, to the extent relevant to the applicable financial statements. 
 “incur” or “incurrence”
is defined in Section 10.2(a). 
 “Indebtedness” means, with respect to any Person, without duplication: 

(a) any indebtedness (including principal and premium) of such Person, whether or not contingent: 

(i) in respect of borrowed money; 

(ii) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication,
reimbursement agreements in respect thereof); 
 (iii) representing the balance deferred and unpaid of the purchase price of any property
(including Capitalized Lease Obligations), which purchase price is (A) due more than six months from the date of incurrence of the obligation in respect thereof or (B) evidenced by a note or similar written instrument, except (i) any
such balance that constitutes an obligation in respect of a commercial letter of credit, a trade payable or similar obligation, in each case accrued in the ordinary course of business, (ii) any earn-out
obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and is not paid within 30 days of becoming due and payable and (iii) any such obligations under ERISA or liabilities associated
with customer prepayments and deposits; or 
 (iv) representing any Hedging Obligations; 

  
 B-25 

 if and to the extent that any of the foregoing Indebtedness (other than letters of credit (other
than commercial letters of credit) and Hedging Obligations) would appear as a liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 

(b) to the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or
otherwise, on the obligations of the type referred to in clause (a) of a third Person (whether or not such items would appear upon the balance sheet of such obligor or guarantor), other than by endorsement of negotiable instruments for
collection in the ordinary course of business; and 
 (c) to the extent not otherwise included, the obligations of the type
referred to in clause (a) of a third Person secured by a Lien on any asset owned by such first Person, whether or not such Indebtedness is assumed by such first Person; provided, however, that the amount of such Indebtedness will be the lesser
of: (i) the fair market value of such asset at such date of determination, and (ii) the amount of such Indebtedness of such other Person; 

provided, however, that notwithstanding the foregoing, Indebtedness shall be deemed not to include (1) Contingent Obligations
incurred in the ordinary course of business and (2) deferred or prepaid revenues provided, further, that in no event shall obligations under any Hedging Obligations be deemed “Indebtedness” for any calculation of a financial
ratio under this Agreement. 
 Notwithstanding anything in this Agreement to the contrary, Indebtedness shall not include,
and shall be calculated without giving effect to, the effects of Accounting Standards Codification Topic No. 815 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any
purpose under this Agreement as a result of accounting for any embedded derivatives created by the terms of such Indebtedness; and any such amounts that would have constituted Indebtedness under this Agreement but for the application of this
sentence shall not be deemed an incurrence of Indebtedness hereunder. 
 “Independent Financial Advisor” means an
accounting, appraisal, investment banking firm or consultant, in each case of nationally recognized standing that is, in the good faith judgment of the Company, qualified to perform the task for which it has been engaged. 

“Institutional Accredited Investor” means an institution that is an “accredited investor” within the
meaning of Rule 501(a)(1),(2),(3) or (7) under the Securities Act. 
 “Intellectual Property” means all
intellectual property recognized anywhere in the world including (a) all inventions (whether patentable or un-patentable and whether or not reduced to practice), all improvements thereto, and all patents,
utility models, patent applications (and foreign counterparts), utility model applications (and foreign counterparts), patent disclosures and invention disclosures, together with all re-issuances,
continuations, continuations-in-part, revisions, extensions and re-examinations thereof; (b) all trademarks, service marks,
trade dress, logos and trade names and other source indicators, together with all translations, adaptations, derivations, and combinations thereof and including all goodwill associated therewith, and all applications, registrations, and renewals in
connection therewith; (c) all copyrightable works, all 

  
 B-26 

 
copyrights, and all applications, registrations, and renewals in connection therewith; (d) all trade secrets, methods, processes, ideas, and proprietary or confidential business information
(including documented ideas, research and development, know-how, formulas, compositions, manufacturing and production processes and techniques, technical data, designs, drawings, specifications, lab journals
(from current and past employees), reports, handwritten and electronic presentations, analytic procedures, protocols and results, retained samples, visiting customer reports and tech service reports, and business and marketing plans and proposals)
whether or not reduced to writing and in whatever form, including information retained in an individual’s mind or memory; (e) all computer software; (f) all websites and internet domain name registrations; (g) all copies and
tangible embodiments of the foregoing items in (a)-(f) (in whatever form or medium); (h) all goodwill associated with any of the foregoing and (i) any and all rights to sue for past infringement of, and any other claims with respect to, any
and/or all of the rights arising from (a)-(h). 
 “Interest Payment Dates” means the 15th day of each March, June,
September and December in each year, commencing June 15, 2016 until such principal sum shall have become due and payable (whether at maturity, upon notice of prepayment or otherwise); provided that if an Interest Payment Date shall fall on a
day which is not a Business Day, such Interest Payment Date shall be deemed to be the first Business Day following such Interest Payment Date. 

“Interest Period” means the period commencing on the date of the Closing and continuing up to, but not including
June 15, 2016, and thereafter each period commencing on an Interest Payment Date and continuing, in each case, up to, but not including, the next Interest Payment Date. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or, in either case, an equivalent rating by any other Rating Agency. 

“Investment Grade Securities” means: 

(a) securities issued or directly and fully guaranteed or insured by the United States government or any agency or
instrumentality thereof (other than Cash Equivalents); 
 (b) debt securities or debt instruments with an Investment Grade
Rating, but excluding any debt securities or instruments constituting loans or advances among the Company and its Subsidiaries; 

(c) investments in any fund that invests exclusively in investments of the type described in clauses (a) and (b) which
fund may also hold immaterial amounts of cash pending investment or distribution; and 
 (d) corresponding instruments in
countries other than the United States customarily utilized for high quality investments. 
 “Investments” means,
with respect to any Person, all investments by such Person directly in other Persons (including Affiliates) in the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit, advances to
customers, 

  
 B-27 

 
commission, travel and similar advances to officers, directors, distributors, consultants and employees, in each case made in the ordinary course of business), purchases or other acquisitions for
consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by GAAP to be classified on the balance sheet (excluding the footnotes thereto) of the Company in the same manner as the
other investments included in this definition to the extent such transactions involve the transfer of cash or other property. The amount of any Investment shall be deemed to be the amount actually invested, without adjustment for subsequent
increases or decreases in value or any write-downs or write-offs, but giving effect to any repayments thereof in the form of loans and any return on capital or return on Investment in the case of equity Investments (whether as a distribution,
dividend, redemption or sale but not in excess of the amount of such Investment). For purposes of the definition of “Unrestricted Subsidiary” and Section 10.1: 

(a) “Investments” shall include the portion (proportionate to the Company’s equity interest in such Subsidiary)
of the fair market value of the net assets of a Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary,
the Company shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to: 

(i) the Company’s “Investment” in such Subsidiary at the time of such redesignation; less 

(ii) the portion (proportionate to the Company’s equity interest in such Subsidiary) of the fair market value of the net assets of such
Subsidiary at the time of such redesignation; and 
 (b) any property transferred to or from an Unrestricted Subsidiary shall
be valued at its fair market value at the time of such transfer, in each case as determined in good faith by the Company. 

“Investors” means (i) CCMP Capital Advisors, LLC and their Affiliates but not including, however, any of their
operating portfolio companies and (ii) Ineos Investments Partnership and their Affiliates but not including, however any of their operating portfolio companies. 

“IP Rights” is defined in Section 5.9. 

“Joint Venture” means any Person that is not a direct or indirect Subsidiary of the Company in which the Company or
any of its Restricted Subsidiaries makes any Investment. 
 “KKR Entities” means KKR Credit Advisors (US) LLC,
together with its affiliates, funds managed or sub-advised by it or its affiliates, and any entity or any affiliate of any entity that administers, advises or manages it. 

“Lead Purchasers” means GSO Capital Partners LP and the KKR Entities. 

“LIBOR Rate” means the greater of: 

  
 B-28 

 (a) the London interbank offered rate for deposits in U.S. Dollars for a period
of three months which appears on the Reuters Screen LIBOR01 Page (or such other page as may replace that page on that service or such other service as may replace that service for the purposes of displaying such rate) as of 11:00 a.m., London time,
on the date which is two Business Days (the “Rate Determination Date”) prior to the commencement of each Interest Period. If such rate does not appear on the Reuters Screen LIBOR01 Page (or such other page as aforesaid) on such day, the
LIBOR Rate for such Rate Determination Date shall be the interest rate per annum reasonably determined by the Agent in good faith to be the rate per annum at which deposits in U.S. Dollars for delivery on the first day of such Interest Period in
immediately available funds in the approximate aggregate principal amount of the Notes, continued or converted by the Agent and with a term equivalent to such Interest Period would be offered to the Agent by major banks in the London or other
offshore interbank market for U.S. Dollars at their request at approximately 11:00 a.m. (London time) two Business Days prior to the commencement of such Interest Period; and 

(b) 1.00% per annum. 

“Lien” means, with respect to any asset, any mortgage, lien, deed of trust, hypothecation, pledge, charge, security
interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof);
provided that in no event shall an operating lease be deemed to constitute a Lien. 
 “Make-Whole Amount” is
defined in Section 8.8 with respect to the Notes. 
 “Management Investors” means the officers, directors,
employees and other members of the management of the Company, any direct or indirect parent company of the Company and/or any Subsidiary of Holdings. 

“Material” means material in relation to the business, operations, affairs, financial condition, assets or properties
of the Company and its Restricted Subsidiaries taken as a whole. 
 “Material Adverse Effect” means a material
adverse effect on (a) the business, assets, financial condition or results of operation, in each case, of the Company and its Restricted Subsidiaries taken as a whole, or (b) the ability of the Company to perform its payment obligations
under this Agreement and the Notes, or (c) the ability of any Subsidiary Guarantor to perform its obligation under its Guarantee, or (d) the rights and remedies (taken as a whole) of the holders of the Notes under this Agreement and the
Notes. 
 “Moody’s” means Moody’s Investors Service, Inc. and any successor to its rating agency
business. 
 “Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined
in Section 4001(a)(3) of ERISA). 
 “Net Income” means, with respect to any Person, the net income (loss) of
such Person, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 

  
 B-29 

 “Net Proceeds” means the aggregate cash proceeds received by the
Company or any of its Restricted Subsidiaries in respect of any Asset Sale, including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash
Consideration received in any Asset Sale, net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration, including legal, accounting and investment
banking fees, and brokerage and sales commissions, any relocation expenses incurred as a result thereof (including pursuant to any tax sharing or tax distribution arrangements), taxes paid or payable as a result thereof, amounts required to be
applied to the repayment of principal, premium, if any, and interest on Indebtedness (other than Subordinated Indebtedness) secured by a Lien on the assets disposed of required (other than required by Section 10.7(b)(i)) to be paid as a result of
such transaction and any deduction of appropriate amounts to be provided by the Company or any of its Restricted Subsidiaries as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in such transaction and
retained by the Company or any of its Restricted Subsidiaries after such sale or other disposition thereof, including pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any
indemnification obligations associated with such transaction. 
 “NMTC Transactions” means one or more transactions
involving the disposition and/or financing of Real Estate Assets owned by any Subsidiary of Holdings in the form of a new market tax credit financing or similar financing, in an aggregate amount not to exceed $75.0 million. 

“Note Documents” means the Note Purchase Agreement, the Guarantee and the Notes. 

“Notes” is defined in Section 1.1. 

“Obligations” means any principal, interest (including any interest accruing subsequent to the filing of a petition
in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable state, federal or foreign law), penalties, fees,
indemnification, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities, and guarantees of payment of such principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 

“Observer” is defined in Section 7.4. 

“Offering Memorandum” means the offering memorandum dated as of April 26, 2016 with respect to the offering by
the Company of $625,000,000 of 6.75% Senior Secured Notes due 2022. 
 “Officer” means the Chairman of the Board,
the Chief Executive Officer, the Chief Financial Officer, the President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of the Company. 

“Officer’s Certificate” means a certificate signed by an Officer of the Company, who must be the principal
executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company that meets the requirements set forth in this Agreement. 

  
 B-30 

 “Other Purchasers” is defined in Section 2. 

“Patent” means the following: (a) any and all patents and patent applications; (b) all inventions described
and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions and continuations in part thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect
thereto, including, without limitation, damages and payments for past and future infringements thereof; (e) all rights to sue for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing.

 “Parent Company” means any Person so long as such Person directly or indirectly owns at least 80.0% of the total
voting power of the Capital Stock of the Company, and at the time such Person acquired such voting power, no Person and no group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision), including
any such group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) (other than any Permitted Holders), shall have beneficial
ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provisions), directly or indirectly, of 50.0% or more of the total voting power of the Voting Stock of such Person. 

“Pari Passu Indebtedness” is defined in Section 8.4(a). 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any successor thereto. 

“Pension Plan” means any “employee pension benefit plan”, as defined in Section 3(2) of ERISA (other
than a Multiemployer Plan), that is subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, which the Company or any of its Restricted Subsidiaries, or any of their respective ERISA Affiliates,
maintains or contributes to or has an obligation to contribute to, or otherwise has any liability, contingent or otherwise. 

“Permitted Asset Swap” means the substantially concurrent purchase and sale or exchange of Related Business Assets or
a combination of Related Business Assets and Cash Equivalents between the Company or any of its Restricted Subsidiaries and another Person; provided that any Cash Equivalents received must be applied in accordance with Section 10.7. 

“Permitted Holders” means (i) each of the Investors, (ii) each of the Management Investors and
(iii) any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision) of which any of the foregoing are members; provided that, in the case of such group and without giving effect to the
existence of such group or any other group, such Permitted Holders and members of management, collectively, have beneficial ownership of more than 50% of the total voting power of the Voting Stock of the Company or any of its direct or indirect
parent companies. 
 “Permitted Investments” means: 

  
 B-31 

 (a) any Investment in the Company or any of its Restricted Subsidiaries; 

(b) any Investment in cash and Cash Equivalents or Investment Grade Securities; 

(c) any Investment by the Company or any of its Restricted Subsidiaries in a Person (including in the Equity Interests of such
Person) if as a result of such Investment: 
 (i) such Person becomes a Restricted Subsidiary; 

(ii) such Person, in one transaction or a series of related transactions, is merged, amalgamated or consolidated with or into, or transfers or
conveys substantially all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary; or 
 (iii) no Default shall have
occurred or be continuing or will result therefrom, 
 and, in each case, any Investment held by such Person; provided that
(1) such Investment was not acquired by such Person in contemplation of such acquisition, merger, consolidation or transfer and (2) Investments by the Company or any Guarantor in any Person that does not become a Guarantor will be limited
under this clause (c) to an amount not to exceed the greater of (x) $160.0 million and (y) 4.0% of Consolidated Total Assets at any one time outstanding; 

(d) any Investment in securities or other assets not constituting cash, Cash Equivalents or Investment Grade Securities and
received in connection with an Asset Sale made pursuant to Section 10.7(a) or any other disposition of assets not constituting an Asset Sale; 

(e) any Investment existing on, or made pursuant to binding commitments existing on, the Closing Date and any extension,
modification, replacement, renewal or reinvestments of any such Investments existing or committed on the Closing Date (other than reimbursements of Investments in the Company or any Subsidiary); provided that the amount of any such Investment
may be increased (x) as required by the terms of such Investment or commitment as in existence on the Closing Date or (y) as otherwise permitted under this Agreement; 

(f) any Investment acquired by the Company or any of its Restricted Subsidiaries: 

(i) in exchange for any other Investment or accounts receivable held by the Company or any such Restricted Subsidiary in connection with or as
a result of a bankruptcy, workout, reorganization or recapitalization of, or settlement of delinquent accounts and disputes with or judgments against, the issuer of such other Investment or accounts receivable; 

(ii) as a result of a foreclosure by the Company or any of its Restricted Subsidiaries with respect to any secured Investment or other
transfer of title with respect to any secured Investment in default; 
 (iii) as a result of the settlement, compromise or resolution of
litigation, arbitration or other disputes with Persons who are not Affiliates, or 
 (iv) in settlement of debts created in the ordinary
course of business; 

  
 B-32 

 (g) Hedging Obligations permitted under Section 10.2(b)(x); 

(h) any Investment in a Similar Business having an aggregate fair market value, taken together with all other Investments made
pursuant to this clause (h) that are at that time outstanding, not to exceed the greater of (x) $75.0 million and (y) 1.75% of Consolidated Total Assets (with the fair market value of each Investment being measured at the time made and
without giving effect to subsequent changes in value); provided, however, that if any Investment pursuant to this clause (h) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such
Investment and such Person becomes a Restricted Subsidiary after such date, such investment shall thereafter be deemed to have been made pursuant to clause (a) above and shall cease to have been made pursuant to this clause (h) for so long
as such Person continues to be a Restricted Subsidiary; 
 (i) Investments the payment for which consists of Equity Interests
(exclusive of Disqualified Stock) of the Company, or any of its direct or indirect parent companies; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under Section 10.1(a)(iv)(3);

 (j) guarantees (including Guarantees) of Indebtedness permitted under Section 10.2, performance guarantees and
Contingent Obligations in the ordinary course of business and the creation of liens on the assets of the Company or any of its Restricted Subsidiaries in compliance with Section 10.3, including, without limitation, any guarantee or other
obligation issued or incurred under the Senior Credit Facilities in connection with any letter of credit issued for the account of the Company or any of its Subsidiaries (including with respect to the issuance of, or payments in respect of drawings
under, such letters of credit); 
 (k) any transaction to the extent it constitutes an Investment that is permitted and made
in accordance with Section 10.5(b) (except transactions described in Sections 10.5(b)(ii), (b)(v) and (b)(viii)); 
 (l)
Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials, services or equipment or purchases of contract rights or licenses or leases of intellectual property; 

(m) Investments having an aggregate fair market value, taken together with all other Investments made pursuant to this clause
(m) and any Restricted Payments made pursuant to Section 10.1(b)(xi) that are at that time outstanding (without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of, or have not been
subsequently sold or transferred for, cash or marketable securities), not to exceed the greater of (x) $160.0 million and (y) 4.0% of Consolidated Total Assets (with the fair market value of each investment being measured at the time made and
without giving effect to subsequent changes in value); provided, however, that if any Investment pursuant to this clause (m) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such Investment
and such Person becomes a Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (a) above and shall cease to have been made pursuant to this clause (m) for so long as such
Person continues to be a Restricted Subsidiary; 

  
 B-33 

 (n) Investments relating to a Receivables Subsidiary that, in the good faith
determination of the Company, are necessary or advisable to effect any Receivables Facility; 
 (o) loans and advances to, or
guarantees of Indebtedness of, officers, directors, employees, managers, consultants or independent contractors and members of management of the Company (or their respective immediate family members), any of its Subsidiaries or any direct or
indirect parent of the Company not in excess of $5.0 million outstanding at any one time, in the aggregate (calculated without regard to write-downs or write-offs thereof); 

(p) loans and advances to present or former officers, directors, employees, consultants, managers, members of management and
independent contractors of payroll payments or other compensation and for travel, moving, entertainment and other similar expenses, drawing accounts and similar expenditures, in each case incurred in the ordinary course of business or consistent
with past practices or to fund such Person’s purchase of Equity Interests of the Company or any direct or indirect parent company thereof; 

(q) Investments consisting of licensing or contribution of intellectual property pursuant to joint marketing arrangements with
other Persons; 
 (r) Investments in prepaid expenses, negotiable instruments held for collection and lease, utility and
workers compensation, performance and similar deposits entered into as a result of the operations of the business in the ordinary course; 

(s) Investments in the Company or any Subsidiary or any joint venture as required by, or made pursuant to, intercompany cash
management arrangements, buy/sell arrangements between the joint venture parties set forth in joint venture agreements and similar binding arrangements or related activities arising in the ordinary course of business; 

(t) Investments in the ordinary course of business consisting of endorsements for collection or deposit and customary trade
arrangements with customers; 
 (u) Investments in joint ventures in an aggregate amount not to exceed the greater of (x)
$80.0 million and (y) 2.0% of Consolidated Total Assets outstanding at any one time; 
 (v) the Notes and the related
Guarantees; 
 (w) guarantees of leases (other than capital leases) or of other obligations not constituting Indebtedness, in
each case in the ordinary course of business; 
 (x) Investments (i) constituting deposits, prepayments and other
credits to suppliers, (ii) made in connection with obtaining, maintaining or renewing client and customer contracts and (iii) in the form of advances made to distributors, suppliers, licensors and licensees, in each case, in the ordinary
course of business or, in the case of clause (iii), to the extent necessary to maintain the ordinary course of supplies to the Company or any Subsidiary. 

(y) Investments made in connection with any NMTC Transaction; and 

  
 B-34 

 (z) Additional Investments so long as, after giving pro forma effect thereto the
Consolidated Total Leverage Ratio does not exceed 4.75:1.00. 
 “Permitted Liens” means, with respect to any
Person: 
 (a) (x) (i) pledges, deposits or security by such Person under workmen’s compensation laws, unemployment
insurance, employers’ health tax and other social security laws or similar legislation or regulations, health, disability or other employee benefits or property and deposits securing liability to insurance carriers under insurance or
self-insurance arrangements in respect of such obligations and (ii) pledges and deposits and other Liens securing liability for reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank
guarantees for the benefit of) insurance carriers providing property, casualty, liability or other insurance to the Company and its Subsidiaries; or (y) Liens, pledges and deposits in connection with bids, tenders, contracts (other than for
Indebtedness for borrowed money) or leases, statutory obligations, surety, stay, customs, bid and appeal bonds, performance and return of money bonds, bids, leases, government contracts, trade contracts, agreements with utilities, performance and
completion guarantees and other obligations of a like nature (including letters of credit in lieu of any such items or to support the issuance thereof) incurred in the ordinary course of business, including those incurred to secure health, safety
and environmental obligations in the ordinary course of business and obligations in respect of letters of credit or bank guarantees that have been posted to support payment of the items described in this clause (a); 

(b) Liens imposed by law, such as landlord’s, banks’, carriers’, warehousemen’s, workmen,
materialmen’s, repairmen’s, construction and mechanics’ Liens, (i) for sums not yet overdue for a period of more than 30 days, (ii) being contested in good faith by appropriate actions or other Liens arising out of judgments
or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP or
(iii) with respect to which the failure to make payment would not reasonably be expected to have a material adverse effect; 

(c) Liens for taxes, assessments or other governmental charges (i) not yet overdue for a period of more than 30 days,
(ii) which are being contested in good faith by appropriate actions diligently conducted, if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP, (iii) for property taxes on property
that the Company or one of its Subsidiaries has determined to abandon if the sole recourse for such tax, assessment, charge, levy or claim is to such property or (iv) with respect to which the failure to make payment would not reasonably be
expected to have a Material Adverse Effect; 
 (d) Liens in favor of issuers of performance, surety, bid, indemnity,
warranty, release, appeal or similar bonds or with respect to other regulatory requirements or letters of credit or bankers’ acceptances issued, and completion guarantees provided for, in each case pursuant to the request of and for the account
of such Person in the ordinary course of its business or consistent with past practice prior to the Closing Date; 

  
 B-35 

 (e) minor survey exceptions, minor encumbrances, ground leases, easements or
reservations of, or rights of others for, licenses, rights-of-way, servitudes, sewers, electric lines, drains, telegraph and telephone and cable television lines, gas
and oil pipelines and other similar purposes, or zoning, building codes or other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental to
the conduct of the business of such Person or to the ownership of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially impair their use in the operation of the business of such Person;

 (f) Liens securing Indebtedness permitted to be incurred pursuant to Section 10.2(b)(iv), (b)(xii)(b), (b)(xiv)(b),
(b)(xviii) or (b)(xxvi); provided that (i) Liens securing Indebtedness, Disqualified Stock or Preferred Stock to be incurred pursuant to Section 10.2(b)(iv)) are limited to the assets financed with such Indebtedness, Disqualified Stock
or Preferred Stock and any replacements thereof, additions and accessions thereto and the proceeds and products thereof and related property and (ii) Liens securing Indebtedness permitted to be incurred pursuant to Section 10.2(b)(xviii) extend
only to the assets of non-Guarantor Subsidiaries; 
 (g) Liens existing on the
Closing Date (including the Secured Notes); 
 (h) Liens existing on property or shares of stock of a Person at the time such
Person becomes a Subsidiary; provided, however, such Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided, further, however, that such Liens may not extend
to any other property owned by the Company or any of its Restricted Subsidiaries; 
 (i) Liens existing on property at the
time the Company or a Restricted Subsidiary acquired the property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Company or any of its Restricted Subsidiaries; provided, however, that such
Liens are not created or incurred in connection with, or in contemplation of, such acquisition, merger, amalgamation or consolidation; provided, further, however, that the Liens may not extend to any other property owned by the Company or any of its
Restricted Subsidiaries; 
 (j) Liens securing Indebtedness or other obligations of the Company or a Restricted Subsidiary
owing to the Company or another Restricted Subsidiary permitted to be incurred in accordance with Section 10.2; 
 (k)
Liens securing Hedging Obligations and in respect of Cash Management Services so long as the related Indebtedness is permitted to be incurred under this Agreement; 

(l) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in
respect of documentary letters of credit or bankers’ acceptances, a bank guarantee or letters of credit issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

(m) leases, subleases, licenses or sublicenses, grants or permits (including with respect to intellectual property and
software) granted to others in the ordinary course of business which do not materially interfere with the ordinary conduct of the business of the Company or any of its Restricted Subsidiaries and the customary rights reserved or vested in any Person
by the terms of any lease, sublease, license, sublicense, grant or permit, or to require annual or periodic payments as a condition to the continuance thereof; 

  
 B-36 

 (n) Liens arising from Uniform Commercial Code (or equivalent statutes) financing
statement filings regarding operating leases or accounts in connection with any transaction otherwise permitted under this Agreement; 

(o) Liens in favor of the Company or any Guarantor; 

(p) Liens on equipment of the Company or any of its Restricted Subsidiaries granted in the ordinary course of business to the
Company’s or its Subsidiaries’ customers; 
 (q) (i) Liens on accounts receivable and related assets incurred
in connection with a Receivables Facility and (ii) Liens on assets sold or transferred or purported to be sold or transferred to a Receivables Subsidiary in connection with a Receivables Facility and the proceeds of such assets; 

(r) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancing, refunding,
extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (f), (g), (h) and (i); provided, however, that (i) such new Lien shall be limited to all or part of the
same property that secured the original Lien (other than the proceeds and products thereof, accessions thereto and improvements on such property), and (ii) the Indebtedness secured by such Lien at such time is not increased to any amount
greater than the sum of (x) the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (f), (g), (h) and (i) at the time the original Lien became a Permitted Lien under this Agreement, and
(y) an amount necessary to pay any accrued interest and fees (including original issue discount, upfront fees or similar fees) and expenses, including premiums (including tender premiums), related to such refinancing, refunding, extension,
renewal or replacement; 
 (s) deposits made or other security provided to secure liabilities to insurance carriers under
insurance or self-insurance arrangements in the ordinary course of business; 
 (t) Liens securing judgments for the payment
of money not constituting an Event of Default under Section 11(f) so long as such Liens are adequately bonded and any appropriate legal proceedings that may have been duly initiated for the review of such judgment have not been finally terminated or
the period within which such proceedings may be initiated has not expired; 
 (u) Liens in favor of customs and revenue
authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business; 

(v) Liens (i) of a collection bank arising under Section 4-210 of the Uniform
Commercial Code on items in the course of collection, (ii) attaching to commodity trading accounts or other commodity brokerage accounts incurred in the ordinary course of business, and (iii) in favor of banking institutions arising as a
matter of law encumbering deposits (including the right of set-off) and which are within the general parameters customary in the banking industry; 

  
 B-37 

 (w) Liens deemed to exist in connection with Investments in repurchase agreements
or other Cash Equivalents permitted under Section 10.2; provided that such Liens do not extend to any assets other than those that are the subject of such repurchase agreement or other Cash Equivalent; 

(x) Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity
trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 

(y) Liens that are contractual rights of set-off (i) relating to the establishment
of depository relations with banks not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Company or any of its Restricted Subsidiaries to permit satisfaction of overdraft or similar
obligations incurred in the ordinary course of business of the Company and its Restricted Subsidiaries or (iii) relating to purchase orders and other agreements entered into with customers of the Company or any of its Restricted Subsidiaries in
the ordinary course of business and (iv) commodity trading or other brokerage accounts incurred in the ordinary course of business; 

(z) Liens solely on any cash earnest money deposits made by the Company or any of its Restricted Subsidiaries in connection
with any letter of intent or purchase agreement permitted under this Agreement; 
 (aa) the rights reserved or vested in any
Person by the terms of any lease, license, franchise, grant or permit held by the Company or any of its Restricted Subsidiaries or by a statutory provision, to terminate any such lease, license, franchise, grant or permit, or to require annual or
periodic payments as a condition to the continuance thereof; 
 (bb) restrictive covenants affecting the use to which real
property may be put; provided, however, that the covenants are complied with; 
 (cc) security given to a public
utility or any municipality or Governmental Authority when required by such utility or authority in connection with the operations of that Person in the ordinary course of business; 

(dd) zoning by-laws and other land use restrictions, including, without limitation,
site plan agreements, development agreements and contract zoning agreements; 
 (ee) Liens arising out of conditional sale,
title retention, consignment or similar arrangements for sale of goods entered into by the Company or any Restricted Subsidiary in the ordinary course of business; 

(ff) Liens arising from Personal Property Security Act financing statement filings regarding leases entered into by the Company
or any of its Restricted Subsidiaries in the ordinary course of business; 
 (gg) (i) customary transfer restrictions
and purchase options in joint venture and similar agreements, (ii) Liens on Equity Interests in joint ventures or Unrestricted Subsidiaries securing capital contributions to, or obligations of, such Persons and (iii) customary rights of
first refusal and tag, drag and similar rights in joint venture agreements and agreements with respect to non-Wholly-Owned Subsidiaries entered into in the ordinary course of business; 

  
 B-38 

 (hh) (i) the prior rights of consignees and their lenders under consignment
arrangements entered into in the ordinary course of business, (ii) Liens arising out of conditional sale, title retention or similar arrangements for the sale of goods in the ordinary course of business and (iii) Liens arising by operation
of law under Article 2 of the Uniform Commercial Code; 
 (ii) Liens on the assets and Capital Stock of non-Guarantor Subsidiaries of the Company securing Indebtedness permitted to be incurred by non-Guarantor Subsidiaries under this Agreement; 

(jj) other Liens securing obligations not to exceed the greater of (x) $150.0 million and (y) 3.75% of Consolidated
Total Assets, at any one time outstanding; 
 (kk) Liens securing reimbursement obligations in respect of documentary letters
of credit or bankers’ acceptances in the ordinary course of business, provided that such Liens attach only to the documents and goods covered thereby and proceeds thereof; 

(ll) Liens securing the Specified Property Financing; 

(mm) Liens incurred to secure Obligations in respect of any Indebtedness permitted to be incurred pursuant to
Section 10.2; provided that, with respect to Liens securing Obligations permitted under this clause (mm), at the time of incurrence and after giving pro forma effect thereto, the Consolidated First Lien Debt Ratio of the Issuer and its
Restricted Subsidiaries would be either (1) no greater than 4.10 to 1.0 or (2) on a pro forma basis after giving effect to such incurrence and any related transaction, the Consolidated First Lien Debt Ratio does not increase as a result of
such transaction, provided that in no event shall the Consolidated First Lien Debt Ratio on a pro forma basis after giving effect to such incurrence of Indebtedness and any related transaction exceed 4.50 to 1.00; provided further that for
purposes of this clause (2), the incurrence of Indebtedness was for purposes of funding an acquisition; and 
 (nn) Liens on
the assets covered by and arising out of (a) Specified Lease Transactions or (b) NMTC Transactions. 
 For purposes
of determining compliance with this definition, (x) a Lien need not be incurred solely by reference to one category of Permitted Liens described in this definition but may be incurred under any combination of such categories (including in part
under one such category and in part under any other such category), (y) in the event that a Lien (or any portion thereof) meets the criteria of one or more of such categories of Permitted Liens, the Company shall, in its sole discretion, classify or
reclassify such Lien (or any portion thereof) in any manner that complies with this definition, and (z) in the event that a portion of Indebtedness secured by a Lien would be classified as secured in part pursuant to clause (nn) above (giving
effect to the incurrence of such portion of such Indebtedness), the Company, in its sole discretion, may classify such portion of such Indebtedness (and any Obligations in respect thereof) as having been secured pursuant to clause (nn) above and
thereafter the remainder of the Indebtedness as having been secured pursuant to one or more of the other clauses of this definition. 

  
 B-39 

 For purposes of this definition, the term “Indebtedness” shall be
deemed to include interest on such Indebtedness. 
 “Permitted Tax Distribution” means Company Percentage of Group
Tax due on the part of the consolidated Tax return filing group that includes the Company and of which Holdings is the common parent, (i) in the case of an installment of estimated Tax, the minimum amount required to be paid in order to avoid a
penalty for underpayment of estimated U.S. federal income Tax and (ii) in the case of the Tax due on the Tax return due date, the amount of U.S. federal income Tax due on such date, less payments of estimated Tax for such period. For purposes
hereof, for the avoidance of doubt, allowable loss carryovers and credits against Tax shall be taken into account in computing Taxes due. The term Permitted Tax Distribution shall also include amounts due in respect of consolidated or combined US
state or local Taxes for corporate groups that include the Company. 
 “Person” means any individual, corporation,
limited liability company, partnership, joint venture, association, joint stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Plan” means an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is or, within the
preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years, have been made or required to be made, by the Company, any Restricted Subsidiary or any ERISA Affiliate or with respect to
which the Company, any Restricted Subsidiary or any ERISA Affiliate may have any liability. 
 “Platform” is
defined in Section 18. 
 “Preferred Stock” means any Equity Interest with preferential rights of payment of
dividends or upon liquidation, dissolution, or winding up. 
 “primary obligations” is defined in the definition of
“Contingent Obligations.” 
 “primary obligor” is defined in the definition of “Contingent
Obligations.” 
 “property” or “properties” means, unless otherwise specifically limited, real or
personal property of any kind, tangible or intangible, choate or inchoate. 
 “Proposed Prepayment Date” is defined
in Section 8.3(b). 
 “Public Company Costs” means costs relating to compliance with the provisions of the
Securities Act and the Exchange Act, as applicable to companies with equity or debt securities held by the public, the rules of national securities exchange companies with listed equity or debt securities, directors’ or managers’
compensation, fees and expense reimbursement, costs relating to investor relations, shareholder meetings and reports to shareholders or debtholders, directors’ and officers’ insurance and other executive costs, legal and other professional
fees, and listing fees. 
 “Public Holder” is defined in Section 18. 

  
 B-40 

 “Purchaser” means each purchaser listed in Schedule A. 

“Qualified Proceeds” means assets that are used or useful in, or Capital Stock of any Person engaged in, a Similar
Business; provided that the fair market value of any such assets or Capital Stock shall be determined by the Company in good faith. 

“QIB” means “qualified institutional buyer” within the meaning of Rule 144A of the Securities Act. 

“Qualifying IPO” means the issuance and sale by any direct or indirect parent company of its common Capital Stock in
an underwritten primary public offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration statement (whether alone or in connection with a
secondary public offering) pursuant to which the net proceeds are received by any direct or indirect parent company and contributed to the Company or any Restricted Subsidiary. 

“Rate Determination Date” is defined in clause (a) of the definition of “LIBOR Rate”. 

“Rating Agencies” means Moody’s and S&P or if Moody’s or S&P or both shall not make a rating on the
Notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Company which shall be substituted for Moody’s or S&P or both, as the case may be. 

“Real Estate Asset” means, at any time of determination, all right, title and interest (fee, leasehold or otherwise)
of the Company or any Restricted Subsidiary in and to real property (including, but not limited to, land, improvements and fixtures thereon) of such Person. 

“Receivables Facility” means one or more receivables financing facilities as amended, supplemented, modified,
extended, renewed, restated or refunded from time to time, the Obligations of which are limited-recourse (except for Securitization Undertakings made in connection with such facilities) to the Company or any of its Restricted Subsidiaries (other
than a Receivables Subsidiary) pursuant to which the Company or any of its Restricted Subsidiaries sells its accounts receivable to either (a) a Person that is not a Restricted Subsidiary or (b) a Receivables Subsidiary that in turn sells
its accounts receivable to a Person that is not a Restricted Subsidiary, in each case, with the same or different arrangements, agents, lenders, borrowers or issuer and, in each case, as amended, restated, amended and restated, supplemented, waived,
renewed, refunded, replaced, restructured, repaid, refinanced or otherwise modified in whole or in part from time to time. 

“Receivables Fees” means distributions or payments made directly or by means of discounts with respect to any
accounts receivable or participation interest therein issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Facility. 

“Receivables Subsidiary” means any Subsidiary formed for the purpose of, and that engages only in one or more
Receivables Facilities and other activities reasonably related thereto. 

  
 B-41 

 “Reference Banks” means five major banks in the London interbank market
selected by the Agent in its sole and absolute discretion. 
 “Refinancing Indebtedness” is defined in
Section 10.2(b)(xiii). 
 “Refunding Capital Stock” is defined in Section 10.1(b)(ii)(a). 

“Reinvestment Yield” is defined in Section 8.8. 

“Related Business Assets” means assets (other than cash or Cash Equivalents) used or useful in a Similar Business,
provided that any assets received by the Company or a Restricted Subsidiary in exchange for assets transferred by the Company or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person,
unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary. 

“Release” means any release, spill, emission, discharge, leaking, pumping, injection, deposit, disposal, dispersal,
leaching or migration into the indoor or outdoor environment (including, without limitation, ambient air, surface water, groundwater and surface or subsurface strata) or into or out of any property, including the movement of Hazardous Materials
through or in the air, soil, surface water or groundwater. 
 “Reorganization” means the following transactions, to
occur on or prior to the date of the initial funding of the Senior Credit Facilities: (a) Eco Services Intermediate Holdings LLC will merge with and into Holdings, (b) Holdings will contribute the membership interests it owns in Eco Opco
to CPQ Midco I Corporation, (c) Eco Opco will merge with and into the Company, (d) the Company will contribute the assets and liabilities received from Eco Opco to a newly formed subsidiary of the Company and (e) the other
reorganization steps described in the Transaction Agreement will occur. 
 “Representative Amount” is defined in
the definition of LIBOR Rate. 
 “Required Holders” means, at any time, holders then holding greater than fifty
percent (50%) of the sum of the aggregate principal amount of Notes then outstanding. 
 “Requirements of Law”
means, with respect to any Person, collectively, the common law and all federal, state, local, foreign, multinational or international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments,
writs, injunctions, decrees (including administrative or judicial precedents or authorities) and the interpretation or administration thereof by, and other determinations, directives, requirements or requests of any Governmental Authority, in each
case whether or not having the force of law and that are applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Reserved Indebtedness Amount” is defined in Section 10.2. 

“Responsible Officer” means any Senior Financial Officer and any other officer of the Company with responsibility for
the administration of the relevant portion of this Agreement. 

  
 B-42 

 “Restricted Investment” means an Investment other than a Permitted
Investment. 
 “Restricted Payments” is defined in Section 10.1(a). 

“Restricted Subsidiary” means, at any time, any direct or indirect Subsidiary of the Company (including any Foreign
Subsidiary) that is not then an Unrestricted Subsidiary; provided, however, that upon the occurrence of an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the definition of
“Restricted Subsidiary.” 
 “Revolving Facility” means the ABL Credit Agreement, dated as of the Issue
Date, among the Issuer, the other borrowers and guarantors party thereto, the subsidiaries of the Company party thereto from time to time, the lenders party thereto from time to time in their capacities as lenders thereunder, Citibank, N.A., as
administrative agent and as collateral agent and the other agents party thereto, including one or more debt facilities or other financing arrangements (including, without limitation, indentures) providing for term loans or other long-term
indebtedness that replace or refinance such credit facility, including any such replacement or refinancing facility or indenture that increases or decreases the amount permitted to be borrowed thereunder or alters the maturity thereof and whether by
the same or any other agent, lender or group of lenders, and any amendments, supplements, modifications, extensions, renewals, restatements, amendments and restatements or refundings thereof or any such indentures or credit facilities that replace
or refinance such credit facility. 
 “S&P” means Standard & Poor’s, a division of The
McGraw-Hill Companies, Inc., and any successor to its rating agency business. 
 “Sale and Lease-Back Transaction”
means any arrangement providing for the leasing by the Company or any of its Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by the Company or such Restricted Subsidiary to a
third Person in contemplation of such leasing. 
 “Sanctioned Country” means , at any time, a country, region or
territory which is itself the subject or target of any Sanctions (at the time of this Agreement, the Crimea region of Ukraine, Cuba, Iran, North Korea, Sudan and Syria). 

“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated
Persons maintained by OFAC or the U.S. Department of State, or by the United Nations Security Council, the European Union, or Her Majesty’s Treasury of the United Kingdom, (b) any Person operating, organized or resident in a Sanctioned
Country, except that any Person that is not organized in the U.S. shall not be a Sanctioned Person on the basis of having transactions in or relating to a Sanctioned Country that are not prohibited by Sanctions, or (c) any Person owned or
controlled by any such Person. 
 “Sanctions” mean economic or financial sanctions or trade embargoes imposed,
administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”) or (b) the United Nations Security
Council, the European Union or Her Majesty’s Treasury of the United Kingdom. 

  
 B-43 

 “SEC” means the U.S. Securities and Exchange Commission. 

“Second Commitment” is defined in Section 10.7(b)(iv). 

“Second Lien Indenture” means the indenture dated November 8, 2012, between the Company, as issuer, and
Wilmington Trust, National Association, as Trustee, governing the Second Lien Notes. 
 “Second Lien Notes” is
defined in Section 4.1(k). 
 “Secured Indebtedness” means any Indebtedness of the Company or any of its Restricted
Subsidiaries secured by a Lien. 
 “Secured Indenture” means the indenture between the Company, as issuer and Wells
Fargo Bank, National Association, as trustee and collateral agent, governing the Secured Notes. 
 “Secured Notes”
means the 6.75% Senior Secured Notes due 2022 issued by the Company pursuant to an indenture, to be dated as of the Closing Date, by and among the Company, the guarantors party thereto and Wells Fargo Bank, National Association, as Trustee and
Collateral Agent. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
of the SEC promulgated thereunder. 
 “Securitization Undertakings” means representations, warranties, covenants,
repurchase obligations, indemnities and guarantees of performance entered into by the Company or any Subsidiary of the Company which the Company has determined in good faith to be required by a seller or servicer (or parent of such seller or
servicer) in a Receivables Facility. 
 “Senior Credit Facilities” means the Term Facility and the Revolving
Facility. 
 “Senior Financial Officer” means the chief financial officer, principal accounting officer, treasurer
or comptroller of the Company. 
 “Senior Indebtedness” means (a) any Indebtedness of the Company, other than
any Indebtedness that is in any manner subordinated in right of payment or security in any respect to the Notes, and (b) any Indebtedness of any Restricted Subsidiary, other than Indebtedness that is in any manner subordinated in right of
payment or security in any respect to the Notes. 
 “Significant Subsidiary” means any Restricted Subsidiary that
would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in
effect on the Closing Date. 
 “Similar Business” means any business conducted or proposed to be conducted by the
Company and its Restricted Subsidiaries on the Closing Date or any business that is a reasonable extension, development or expansion of any of the foregoing or is similar, reasonably related, incidental or ancillary thereto. 

  
 B-44 

 “Specified Lease Transactions” means lease and lease-back and sale and
lease-back transactions consummated by the Company or any Guarantor and one or more governmental units in connection with arrangements pursuant to applicable state or local law by which the Company or a Guarantor obtains partial or full abatement of
ad valorem taxes levied against the subject property. 
 “Specified Property Financing” means one or more proposed
transactions involving the disposition, lease and/or financing of the Company’s Kansas City, Kansas and Augusta, Georgia property after the Closing Date in the form of an industrial revenue bond financing in an aggregate amount not to exceed
$50.0 million at any one time outstanding. 
 “Sponsor Management Agreements” means those certain management
and consulting agreements, existing as of the Closing Date, by and among, the Company, on the one hand, and the Investors and/or one or more of their Affiliates and certain other equity investors, on the other hand. 

“Subordinated Indebtedness” means, with respect to the Notes, 

(a) any Indebtedness of the Company which is by its terms subordinated in right of payment to the Notes, and 

(b) any Indebtedness of any Guarantor which is by its terms subordinated in right of payment to the Guarantee of such entity of the Notes.

 “Subsidiary” means, with respect to any Person, any corporation, partnership, limited liability company,
association, joint venture or other business entity of which more than 50% of the total voting power of stock or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Person or
Persons (whether directors, managers, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by
such Person or one or more of the other subsidiaries of such Person or a combination thereof; provided that in determining the percentage of ownership interests of any Person controlled by another Person, no ownership interests in the nature of a
“qualifying share” of the former Person shall be deemed to be outstanding. 
 “Subsidiary Guarantee”
means the guarantee by a Subsidiary Guarantor that (regardless of whether required by the terms of the Senior Credit Facilities or other applicable documents governing other Indebtedness of the Company) from time to time guarantees Indebtedness in
respect of the Senior Credit Facilities, Existing Senior Notes, Secured Notes or any other Indebtedness in respect of borrowed money from the Company, pursuant to the Subsidiary Guarantee in substantially the form in the attached Exhibit 1.2, as it
may be amended or supplemented from time to time. 
 “Subsidiary Guarantors” means each Restricted Subsidiary that
provides a Guarantee of the Notes. 
 “Substitute Purchaser” is defined in Section 21. 

  
 B-45 

 “Successor Company” is defined in Section 10.4(a)(i). 

“Swap” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar
agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; but no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Company or any
Restricted Subsidiary shall be a Swap Agreement. 
 “Synthetic Lease Obligation” means the monetary obligation of a
Person under a so-called synthetic, off-balance sheet or tax retention lease. 

“Tax Refunds” shall mean payments or credits against Tax that result from a redetermination of amounts due, and
refunds or credits that result from the carryback of losses, credits or other items. 
 “Taxes” means all present
or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

 “Taxing Jurisdiction” is defined in Section 22.1. 

“Term Facility” means the Term Loan Credit Agreement, dated as of the Issue Date, among the Company, as the borrower,
CPQ Midco I Corporation, as holdings, the financial institutions party thereto as lenders and Credit Suisse AG, Cayman Islands Branch, as administrative agent and as collateral agent, as the same may be amended, restated, supplemented, waived or
otherwise modified from time to time. 
 “Term Loan Credit Agreement” means the Term Loan Credit Agreement, dated
as of the Issue Date, among PQ Corporation, as the borrower, CPQ Midco I Corporation, as holdings, the financial institutions party thereto as lenders and Credit Suisse AG, Cayman Islands Branch, as administrative agent and as collateral agent, as
the same may be amended, restated, supplemented, waived or otherwise modified from time to time, including any replacement or refinancing of such indebtedness. 

“this Agreement” or “the Agreement” is defined in Section 17.3. 

“Trademark” means the following: (a) all trademarks (including service marks), common law marks, trade names,
trade dress, and logos, slogans and other indicia of origin under the laws of any jurisdiction in the world, and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all
renewals of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past and future infringements and dilutions
thereof; (d) all rights to sue for past, present, and future infringements and dilutions of the foregoing, including the right to settle suits involving claims and demands for royalties owing; and (e) all rights corresponding to any of the
foregoing. 

  
 B-46 

 “Transaction Agreement” means the Reorganization and Transaction
Agreement, dated as of August 17, 2015, as amended, by and among Holdings, PQ Group Holdings Inc., Eco Merger Sub Corporation, the Company, Eco Services TopCo LLC, Eco Services MidCo LLC, Eco Services Group Holdings LLC, Eco Services
Intermediate Holdings LLC, Eco Opco and affiliates of CCMP Capital Advisors, LLC including all exhibits and disclosure schedules thereto. 

“Transaction Expenses” means any fees, premiums, expenses, costs or charges (including original issue discount or
upfront fees) incurred or paid by the Company or its Subsidiaries in connection with the Transactions or any related restructuring transactions, including payments to officers, employees and directors as change of control payments, severance
payments, special or retention bonuses and charges for repurchase or rollover of, or modifications to, stock options and/or restricted stock and charges or expenses relating to the repayment of existing Indebtedness 

“Transactions” means the transactions contemplated by the Transaction Agreement, the issuance of the Notes,
borrowings under the Senior Credit Facilities and restructuring transactions contemplated by or necessary to effect the Transactions contemplated by the Transaction Agreement. 

“Treasury Capital Stock” is defined in Section 10.1(b)(ii)(a). 

“Unrestricted Subsidiary” means: 

(a) any Subsidiary of the Company which at the time of determination is an Unrestricted Subsidiary (as designated by the
Company, as provided below); and 
 (b) any Subsidiary of an Unrestricted Subsidiary. 

The Company may designate any Subsidiary of the Company (including any existing Subsidiary and any newly acquired or newly
formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property of, the Company or any Subsidiary of the Company (other
than solely any Subsidiary of the Subsidiary to be so designated); provided that 
 (x) any Unrestricted Subsidiary
must be an entity of which the Equity Interests entitled to cast at least a majority of the votes that may be cast by all Equity Interests having ordinary voting power for the election of directors or Persons performing a similar function are owned,
directly or indirectly, by the Company; 
 (y) such designation complies with Section 10.1; and 

(z) each of: 

(i) the Subsidiary to be so designated; and 

(ii) its Subsidiaries 

  
 B-47 

 has not at the time of designation, and does not thereafter, create, incur,
issue, assume, guarantee or otherwise become directly or indirectly liable with respect to any Indebtedness pursuant to which the lender has recourse to any of the assets of the Company or any Restricted Subsidiary. 

The Company may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that, immediately after giving
effect to such designation, no Default shall have occurred and be continuing and either: 
 (aa) the Company would incur at
least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test described in Section 10.2(a) or 

(bb) the Fixed Charge Coverage Ratio for the Company and its Restricted Subsidiaries would be equal to or greater than such
ratio for the Company and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation. 

Any such designation by the Company shall be notified by the Company to the Agent by promptly filing a copy of the resolution
of the Board of Directors of the Company or any committee thereof giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing provisions. 

“USA PATRIOT Act” means United States Public Law 107-56, Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect. 

“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to
vote in the election of the Board of Directors of such Person. 
 “Weighted Average Life to Maturity” means, when
applied to any Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing: 

(a) the sum of the products of the number of years from the date of determination to the date of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment; by 

(b) the sum of all such payments. 

“Wholly-Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the outstanding Equity Interests
of which (other than directors’ qualifying shares and shares issued to foreign nationals as required under applicable law) shall at the time be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person or by such Person
and one or more Wholly-Owned Subsidiaries of such Person. 

  
 B-48 

 SCHEDULE 5.4 
  

							
	 	  	 Subsidiary
	  	 Equity Holder
	  	Ownership
Interest
	 1.
	  	CPQ Midco I Corporation	  	PQ Holdings Inc.	  	100%
	 2.
	  	PQ Corporation	  	CPQ Midco I Corporation	  	100%
	 3.
	  	Eco Services Operations Corp.	  	PQ Corporation	  	100%
	 4.
	  	PQ International Holdings Inc.	  	PQ Corporation	  	100%
	 5.
	  	Delpen Corporation	  	PQ Corporation	  	100%
	 6.
	  	Commercial Research Associations, Inc.	  	PQ Corporation	  	100%
	 7.
	  	PQ Asia Inc.	  	PQ Corporation	  	100%
	 8.
	  	PQ Export Company	  	PQ Corporation	  	100%
	 9.
	  	PQ International, Inc.	  	PQ Corporation	  	100%
	 10.
	  	Philadelphia Quartz Company	  	PQ Corporation	  	100%
	 11.
	  	PQ Systems Incorporated	  	PQ Corporation	  	100%
	 12.
	  	PQ Netherlands Holding LLC	  	PQ International Holdings, Inc.	  	100%
	 13.
	  	PQ International C.V.	  	PQ Netherlands Holding LLC	  	1%
	 14.
	  	PQ International C.V.	  	PQ International Holdings Inc.	  	99%
	 15.
	  	PQ Netherlands Cooperative LLC	  	PQ International C.V.	  	100%
	 16.
	  	PQ International Coöperatie U.A.	  	PQ International C.V.	  	99%
	 17.
	  	PQ International Coöperatie U.A.	  	PQ Netherlands Cooperative LLC	  	1%
	 18.
	  	PQ Acquisition B.V.	  	PQ International Coöperatie U.A.	  	100%
	 19.
	  	PQ Silicas Brazil Ltda.	  	PQ International Coöperatie U.A.	  	0.1%
	 20.
	  	PQ Silicas Brazil Ltda.	  	PQ Acquisition B.V.	  	99.9%
	 21.
	  	PQ Canada Company	  	PQ Acquisition B.V.	  	100%
	 22.
	  	PQ Silicas Asia Pacific Pte. Ltd.	  	PQ Acquisition B.V.	  	100%
	 23.
	  	PQ Europe Coöperatie U.A.	  	PQ Acquisition B.V.	  	0.01%
	 24.
	  	PQ Europe Coöperatie U.A.	  	PQ Canada Company	  	99.99%
	 25.
	  	PQ Australia LLC	  	PQ Canada Company	  	100%
	 26.
	  	NSL Australia Company	  	PQ Canada Company	  	100%
	 27.
	  	NSL Canada Company	  	PQ Canada Company	  	100%

							
	 	  	 Subsidiary
	  	 Equity Holder
	  	Ownership
Interest
	 28.
	  	National Silicates Partnership	  	NSL Canada Company	  	0.1%
	 29.
	  	National Silicates Partnership	  	PQ Canada Company	  	99.9%
	 30.
	  	PQ Europe ApS	  	PQ Europe Coöperatie U.A.	  	100%
	 31.
	  	PQ Holdings I Limited	  	PQ Corporation	  	94.6%
	 32.
	  	PQ Holdings I Limited	  	PQ Europe ApS	  	5.4%
	 33.
	  	PQ Intermediate Limited	  	PQ Holdings I Limited	  	100%
	 34.
	  	PQ Germany GmbH	  	PQ Intermediate Limited	  	27%
	 35.
	  	PQ Germany GmbH	  	PQ Silicas B.V.	  	73%
	 36.
	  	PT PQ Silicas Indonesia	  	PQ International Coöperatie U.A.	  	0.0161%
	 37.
	  	PT PQ Silicas Indonesia	  	PQ Germany GmbH	  	99.9194%
	 38.
	  	PQ Sweden A.B.	  	PQ Germany GmbH	  	100%
	 39.
	  	PQ Finland Oy	  	PQ Germany GmbH	  	100%
	 40.
	  	PQ Silicas Holdings South Africa Pty Ltd.	  	PQ Germany GmbH	  	100%
	 41.
	  	PQ Silicas South Africa Pty Ltd.	  	PQ Silicas Holdings South Africa Pty Ltd.	  	100%
	 42.
	  	PQ Silicas B.V.	  	PQ Europe ApS	  	100%
	 43.
	  	PQ Zeolites B.V.	  	PQ Silicas B.V.	  	100%
	 44.
	  	PQ Italy S.r.L.	  	PQ Silicas B.V.	  	100%
	 45.
	  	PQ France S.A.S.	  	PQ Silicas B.V.	  	100%
	 46.
	  	PQ Silicas UK Limited	  	PQ Silicas B.V.	  	100%
	 47.
	  	PQ Chemicals (Thailand) Ltd.	  	PQ Europe ApS	  	99.9%
	 48.
	  	PQ Holdings Mexicana S.A. de C.V.	  	PQ Europe ApS	  	80%
	 49.
	  	Silicatos y Derivados S.A. de C.V.	  	PQ Holdings Mexicana S.A. de C.V.	  	100%
	 50.
	  	PQ China (Hong Kong) Limited	  	PQ International Holdings Inc.	  	.01%
	 51.
	  	PQ China (Hong Kong) Limited	  	PQ Europe ApS	  	99.99%
	 52.
	  	PQ Holdings Australia Pty Limited	  	PQ Europe ApS	  	100%
	 53.
	  	PQ Australia Pty Limited	  	PQ Holdings Australia Pty Limited	  	100%
	 54.
	  	Potters Holdings GP, Ltd.	  	PQ Corporation	  	100%
	 55.
	  	Potters Holdings, L.P.	  	Potters Holdings GP, Ltd.	  	0.01%
	 56.
	  	Potters Holdings, L.P.	  	PQ Corporation	  	99.99%
	 57.
	  	PQ Holdings II GP, LLC	  	Potters Holdings, L.P.	  	100%

							
	 	  	 Subsidiary
	  	 Equity Holder
	  	Ownership
Interest
	 58.
	  	Potters Holdings II, L.P.	  	Potters Holdings II GP, LLC	  	0.01%
	 59.
	  	Potters Holdings II, L.P.	  	Potters Holdings, L.P.	  	99.99%
	 60.
	  	Potters Industries Holding, Inc.	  	Potters Holdings II, L.P.	  	100%
	 61.
	  	Potters Industries, LLC	  	Potters Industries Holding, Inc.	  	0.05%
	 62.
	  	Potters Industries, LLC	  	Potters Holdings II, L.P.	  	99.95%
	 63.
	  	SAJB Holding Company, LLC	  	Potters Industries, LLC	  	100%
	 64.
	  	Potters International Holdings S. á.R.L.	  	Potters Holdings II, L.P.	  	100%
	 65.
	  	Potters Ballotini SAS	  	Potters International Holdings S. á.R.L.	  	100%
	 66.
	  	Societe-Recyclage Produit Verrier Industriels SAS	  	Potters Ballotini SAS	  	100%
	 67.
	  	Interminglass Holding Sp. z o.o.	  	Potters International Holdings S.á R.L..	  	100%
	 68.
	  	Interminglass Sp. z o.o.	  	Interminglass Holding Sp. z o.o.	  	100%
	 69.
	  	Potters (Thailand) Limited	  	Potters International Holdings S.á R.L.	  	74.9750%
	 70.
	  	Potters Industries Acquisition Pty Ltd.	  	Potters International Holdings S.á R.L.	  	100%
	 71.
	  	Potters Industries Pty Ltd.	  	Potters Industries Acquisition Pty Ltd.	  	100%
	 72.
	  	Potters Industrial Ltda.	  	Potters International Holdings S.á R.L.	  	99.99999%
	 73.
	  	Potters Canada Holding Company	  	Potters International Holdings S.á R.L.	  	100%
	 74.
	  	Potters Canada Holding II Company	  	Potters Canada Holding Company	  	100%
	 75.
	  	PNA Partnership	  	Potters Canada Holding Company	  	99.99%
	 76.
	  	PNA Partnership	  	Potters Holding II Company	  	0.01%
	 77.
	  	Potters-Ballotini Co., Ltd.	  	Potters International Holdings S.á R.L.	  	100%
	 78.
	  	Potters Nederland B.V.	  	Potters International Holdings S.á R.L.	  	100%
	 79.
	  	Ballotini Panamericana S. de R.L. de C.V.	  	Potters International Holdings S.á R.L.	  	0.0410%
	 80.
	  	Ballotini Panamericana S. de R.L. de C.V.	  	Potters Nederland BV	  	99.9589%
	 81.
	  	Potters Ballotini Acquisition GmbH	  	Potters International Holdings S.á R.L.	  	100%
	 82.
	  	Potters Ballotini GmbH	  	Potters Ballotini Acquisition GmbH	  	100%
	 83.
	  	Potters-Ballotini Limited	  	Potters International Holdings S.á R.L..	  	100%
	 84.
	  	Northern Cullet Limited	  	Potters-Ballotini Limited	  	100%

 EXHIBIT 1.1 

FORM OF SENIOR NOTE 
 THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN EXEMPTION THEREFROM. 

PQ CORPORATION 
 FLOATING RATE
SENIOR NOTE DUE MAY 1, 2022 
  

			
	No. R-[        ]	  	May 4, 2016

 $[        ] 

FOR VALUE RECEIVED, the undersigned, PQ CORPORATION, a Pennsylvania corporation (the “Company”), promises to pay to
[        ], or registered assigns, the principal sum of $[        ] on May 1, 2022, or if the Existing Senior Notes have been refinanced or otherwise repaid prior
to such date, on May 1, 2023, with interest (computed on the basis of a 360-day year and the actual number of days elapsed) (a) on the unpaid balance thereof at a floating rate equal to the Adjusted
LIBOR Rate for the Interest Period in effect from time to time from the date hereof, payable quarterly, on each Interest Payment Date, commencing with June 15, 2016, until the principal hereof shall have become due and payable, and
(b) additional interest shall accrue on all principal of, any overdue payment of interest on and any Make-Whole Amount and any other applicable premium and Breakage Amount owed on this Note from the due date thereof (whether by acceleration or
otherwise) at the Default Rate until paid. 
 Payments of principal of, interest on, any Breakage Amount, if any, any Make-Whole Amount, if
any, and any other premium, if any, with respect to this Note are to be made in lawful money of the United States of America as provided in the Note Purchase Agreement referred to below. 

This Note is issued pursuant to a Note Purchase Agreement dated as of May 4, 2016 (as from time to time amended, the “Note
Purchase Agreement”), among the Company, the respective Purchasers named therein and Wilmington Trust, National Association, as Agent, and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance
hereof, (i) to have agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) to have made the representations set forth in Section 6 of the Note Purchase Agreement. Unless otherwise
indicated, capitalized terms used in this Note shall have the meanings ascribed in the Note Purchase Agreement. 
 This Note has been
registered with the Company and is subject to transfer restrictions set forth in the Note Purchase Agreement. This Note may only be transferred in accordance with the terms of the Note Purchase Agreement, including, but not limited to,
Section 13.2 thereof. Subject to the terms of the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed, by the registered holder
hereof or such holder’s attorney duly authorized in writing, a new Note for 

  
 Exhibit 1.1 - 1 

 
a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name
this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary. 

This Note is subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note
Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount, any Breakage Amount or other premium) and with the effect provided in the Note Purchase Agreement. 

Payment of the principal of, and interest, any Breakage Amount, if any, any Make-Whole Amount, if any, or any other premium, if any, on this
Note, and all other amounts due under the Note Purchase Agreement, is guaranteed pursuant to the terms of a Guarantee dated as of May 4, 2016 of CPQ Midco I Corporation, PQ Holdings Inc. and certain Subsidiaries of the Company, as amended or
supplemented from time to time. 
 This Note shall be construed and enforced in accordance with, and the rights of the parties shall be
governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would require the application of the laws of a
jurisdiction other than such State. 
 [Signature Page follows] 

  
 Exhibit 1.1 - 2 

 
			
	PQ CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit 1.1 - 3 

 EXHIBIT 1.2 

FORM OF GUARANTEE 
 THIS
GUARANTEE (this “Guarantee”) dated May 4, 2016 is made by the undersigned subsidiaries of the company (each, a “Subsidiary Guarantor”), PQ HOLDINGS INC. (“Holdings”) and CPQ MIDCO I CORPORATION
(“CPQ”, together with the Subsidiary Guarantors and Holdings, each, a “Guarantor” and collectively, the Guarantors), in favor of the holders from time to time of the Notes issued under the Note Purchase Agreement,
including each purchaser named in the Note Purchase Agreement, and their respective successors and assigns (collectively, the “Holders” and each individually, a “Holder”)and Wilmington Trust, National Association
(the “Agent”). 
 W I T N E S S E T H: 

WHEREAS, PQ CORPORATION, a Pennsylvania corporation (the “Company”), the initial Holders and the Agent have entered into a
Note Purchase Agreement dated as of May 4, 2016 (as amended, supplemented, restated or otherwise modified from time to time in accordance with its terms and in effect, the “Note Purchase Agreement”); 

WHEREAS, pursuant to the Note Purchase Agreement, the Company has issued $525,000,000 principal amount of Notes; 

WHEREAS, the Company directly or indirectly owns all or a substantial portion of the issued and outstanding Equity Interests of each
Subsidiary Guarantor and, by virtue of such ownership and otherwise, such Subsidiary Guarantor will derive substantial benefits from the purchase by the Holders of the Company’s Notes; 

WHEREAS, CPQ and Holdings own directly or indirectly all or a substantial portion of the issued and outstanding Equity Interests of the
Company and by virtue of such ownership and otherwise, CPQ and Holdings will derive substantial benefits from the purchase by the Holders of the Company’s Notes; 

WHEREAS, it is a condition precedent to the obligation of the Holders to purchase the Notes that each Guarantor shall have executed and
delivered this Guarantee to the Holders and the Agent; and 
 WHEREAS, each Guarantor desires to execute and deliver this Guarantee to
satisfy the condition described in the preceding paragraph; 
 NOW, THEREFORE, in consideration of the premises and other benefits to each
Guarantor, and of the purchase of the Company’s Notes by the Holders, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, each Guarantor makes this Guarantee as follows: 

SECTION 1. Definitions. Any capitalized terms not otherwise herein defined shall have the meanings attributed to them in the Note
Purchase Agreement. 

 SECTION 2. Guarantee. Each Guarantor, jointly and severally with each other
Guarantor, unconditionally and irrevocably guarantees to the Holders the due, prompt and complete payment by the Company of the principal of, Make-Whole Amount, if any, Breakage Amount, if any, other premium, if any, and interest on, and each other
amount due under, the Notes or the Note Purchase Agreement, when and as the same shall become due and payable (whether at stated maturity or by required or optional prepayment, including prepayments as a result of any acceleration at the price
calculated as of the acceleration date in accordance with Section 8.2(c) of the Note Purchase Agreement, or by acceleration or otherwise) in accordance with the terms of the Notes and the Note Purchase Agreement (the Notes and the Note Purchase
Agreement being sometimes hereinafter collectively referred to as the “Applicable Note Documents” and the amounts payable by the Company under the Applicable Note Documents, and all other monetary obligations of the Company
thereunder (including any reasonable and documented attorneys’ fees and expenses), being sometimes collectively hereinafter referred to as the “Obligations”). This Guarantee is a guarantee of payment and not just of
collectibility and is in no way conditioned or contingent upon any attempt to collect from the Company or upon any other event, contingency or circumstance whatsoever. If for any reason whatsoever the Company shall fail or be unable duly, punctually
and fully to pay such amounts as and when the same shall become due and payable, each Guarantor, without demand, presentment, protest or notice of any kind, will forthwith pay or cause to be paid such amounts to the Holders under the terms of such
Applicable Note Documents, in lawful money of the United States, at the place specified in the Note Purchase Agreement, or perform or comply with the same or cause the same to be performed or complied with, together with interest (to the extent
provided for under such Applicable Note Documents) on any amount due and owing from the Company. Each Guarantor, promptly after demand, will pay to the Holders, in accordance with Section 15.1 of the Note Purchase Agreement, the reasonable
costs and expenses of collecting such amounts or otherwise enforcing this Guarantee, including, without limitation, the reasonable fees and expenses of counsel. Notwithstanding the foregoing, the right of recovery against each Guarantor under this
Guarantee is limited to the extent (i) it is judicially determined with respect to any Guarantor that entering into this Guarantee would violate Section 548 of the United States Bankruptcy Code or any comparable provisions of any other
federal or state law or (ii) otherwise be void or voidable under any similar laws affecting the rights of creditors generally, in which case such Guarantor shall be liable under this Guarantee only for amounts aggregating up to the largest
amount that is valid and enforceable. 
 SECTION 3. Guarantor’s Obligations Unconditional. The obligations of each
Guarantor under this Guarantee shall be primary, absolute and unconditional obligations of each Guarantor, shall not be subject to any counterclaim, set-off, deduction, diminution, abatement, recoupment,
suspension, deferment, reduction or defense based upon any claim each Guarantor or any other person may have against the Company or any other person, and to the full extent permitted by applicable law shall remain in full force and effect without
regard to, and shall not be released, discharged or in any way affected by, any circumstance or condition whatsoever (whether or not each Guarantor or the Company shall have any knowledge or notice thereof), including: 

  
 2 

 (a) except as provided in Section 1.2(b) of the Note Purchase Agreement, any
termination, amendment or modification of or deletion from or addition or supplement to or other change in any of the Applicable Note Documents or any other instrument or agreement applicable to any of the parties to any of the Applicable Note
Documents; 
 (b) any furnishing or acceptance of any security, or any release of any security, for the Obligations, or the
failure of any security or the failure of any person to perfect any interest in any collateral; 
 (c) any failure, omission
or delay on the part of the Company to conform or comply with any term of any of the Applicable Note Documents or any other instrument or agreement referred to in paragraph (a) above, including, without limitation, failure to give notice to any
Guarantor of the occurrence of a “Default” or an “Event of Default” under any Applicable Note Document; 

(d) any waiver of the payment, performance or observance of any of the obligations, conditions, covenants or agreements
contained in any Applicable Note Document, or any other waiver, consent, extension, indulgence, compromise, settlement, release or other action or inaction under or in respect of any of the Applicable Note Documents or any other instrument or
agreement referred to in paragraph (a) above or any obligation or liability of the Company, or any exercise or non-exercise of any right, remedy, power or privilege under or in respect of any such
instrument or agreement or any such obligation or liability; 
 (e) any failure, omission or delay on the part of any of the
Holders or the Agent to enforce, assert or exercise any right, power or remedy conferred on such Holder or the Agent in this Guarantee, or any such failure, omission or delay on the part of such Holder or the Agent in connection with any Applicable
Note Document, or any other action on the part of such Holder or the Agent; 
 (f) any voluntary or involuntary bankruptcy,
insolvency, reorganization, arrangement, readjustment, assignment for the benefit of creditors, composition, receivership, conservatorship, custodianship, liquidation, marshaling of assets and liabilities or similar proceedings with respect to the
Company, any other Guarantor or to any other person or any of their respective properties or creditors, or any action taken by any trustee or receiver or by any court in any such proceeding; 

(g) except as provided in Section 1.2(b) of the Note Purchase Agreement, any discharge, termination, cancellation, frustration,
irregularity, invalidity or unenforceability, in whole or in part, of any of the Applicable Note Documents or any other agreement or instrument referred to in paragraph (a) above or any term hereof; 

(h) except as otherwise provided in Section 10.4 of the Note Purchase Agreement, any merger or consolidation of the
Company or any Guarantor into or with any other Person, or any sale, lease or transfer of any of the assets of the Company or any Guarantor to any other person; 

(i) except as otherwise provided in Section 1.2(b) and Section 10.4 of the Note Purchase Agreement, any change in the
ownership of any shares of Capital Stock of the Company or any change in the corporate relationship between the Company and any Guarantor, or any termination of such relationship; 

  
 3 

 (j) any release or discharge, by operation of law, of any other Guarantor from
the performance or observance of any obligation, covenant or agreement contained in this Guarantee; or 
 (k) any other
occurrence, circumstance, happening or event whatsoever, whether similar or dissimilar to the foregoing, whether foreseen or unforeseen, and any other circumstance which might otherwise constitute a legal or equitable defense or discharge of the
liabilities of a guarantor or surety or which might otherwise limit recourse against any Guarantor. 
 SECTION 4. Full Recourse
Obligations. The obligations of each Guarantor set forth herein constitute the full recourse obligations of such Guarantor enforceable against it (subject to the last sentence of Section 2) to the full extent of all its assets and
properties. 
 SECTION 5. Waiver. Each Guarantor unconditionally waives, to the extent permitted by applicable law,
(a) notice of any of the matters referred to in Section 3, (b) notice to such Guarantor of the incurrence of any of the Obligations, notice to such Guarantor or the Company of any breach or default by such Guarantor or the Company with
respect to any of the Obligations or any other notice that may be required, by statute, rule of law or otherwise, to preserve any rights of the Holders or the Agent against such Guarantor, (c) presentment to or demand of payment from the
Company or the Guarantor with respect to any amount due under any Applicable Note Document or protest for nonpayment or dishonor, (d) any right to the enforcement, assertion or exercise by any of the Holders or the Agent of any right, power,
privilege or remedy conferred in the Note Purchase Agreement or any other Applicable Note Document or otherwise, (e) any requirement of diligence on the part of any of the Holders or the Agent, (f) any requirement to exhaust any remedies
or to mitigate the damages resulting from any default under any Applicable Note Document, (g) any notice of any sale, transfer or other disposition by any of the Holders or the Agent of any right, title to or interest in the Note Purchase
Agreement or in any other Applicable Note Document and (h) any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge, release (other than a release of such Guarantor herefrom pursuant to Section 1.2(b) of
the Note Purchase Agreement) or defense of a guarantor or surety (other than the defense of payment) or which might otherwise limit recourse against such Guarantor. 

SECTION 6. Subrogation, Contribution, Reimbursement or Indemnity. Until all Obligations have been indefeasibly paid in full, each
Guarantor agrees not to take any action pursuant to any rights which may have arisen in connection with this Guarantee to be subrogated to any of the rights (whether contractual, under the United States Bankruptcy Code, as amended, including
Section 509 thereof, under common law or otherwise) of any of the Holders or the Agent against the Company or against any collateral security or guarantee or right of offset held by the Holders or the Agent for the payment of the Obligations.
Until all Obligations have been indefeasibly paid in full, each Guarantor agrees not to take any action pursuant to any contractual, common law, statutory or other rights of reimbursement, contribution, exoneration or indemnity (or any similar
right) from or against the Company which may have arisen in 

  
 4 

 
connection with this Guarantee. So long as any Obligations remain outstanding, if any amount shall be paid by or on behalf of the Company to any Guarantor on account of any of the rights waived
in this Section 6, such amount shall be held by such Guarantor in trust, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Agent (for the benefit of the Agent and the
Holders) (duly endorsed by such Guarantor to the Agent, if required), to be applied against the Obligations, whether matured or unmatured, in accordance with the Note Purchase Agreement. The provisions of this Section 6 shall survive the term
of this Guarantee and the payment in full of the Obligations. 
 SECTION 7. Effect of Bankruptcy Proceedings, etc. This
Guarantee shall continue to be effective or be automatically reinstated, as the case may be, if at any time payment, in whole or in part, of any of the sums due to any of the Holders or the Agent pursuant to the terms of the Note Purchase Agreement
or any other Applicable Note Document is rescinded or must otherwise be restored or returned by such Holder or the Agent upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company or any other person, or upon or as a
result of the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to the Company or other person or any substantial part of its property, or otherwise, all as though such payment had not been made. If an
event permitting the acceleration of the maturity of the principal amount of the Notes shall at any time have occurred and be continuing, and such acceleration shall at such time be prevented by reason of the pendency against the Company or any
other person of a case or proceeding under a bankruptcy or insolvency law, each Guarantor agrees that, for purposes of this Guarantee and its obligations hereunder, the maturity of the principal amount of the Notes and all other Obligations shall be
deemed to have been accelerated with the same effect as if the Agent had accelerated the same in accordance with the terms of the Note Purchase Agreement or other Applicable Note Document, and such Guarantor shall forthwith pay such principal
amount, Make-Whole Amount, if any, Breakage Amount, if any, other premium, if any, and interest thereon and any other amounts guaranteed hereunder without further notice or demand, at the price calculated as of the acceleration date in accordance
with Section 8.2(c) of the Note Purchase Agreement. 
 SECTION 8. Term of Agreement. This Guarantee and all guaranties,
covenants and agreements of each Guarantor contained herein shall continue in full force and effect and shall not be discharged until such time as all of the Obligations shall be paid and performed in full and all of the agreements of such Guarantor
hereunder shall be duly paid and performed in full; provided that each Guarantor shall be automatically and immediately released herefrom without any further act by any Person as provided in Section 1.2(b) of the Note Purchase Agreement. 

SECTION 9. Representations and Warranties. Each Guarantor represents and warrants to each Holder that: 

(a) such Guarantor is a corporation, limited partnership or limited liability company, as the case may be, duly organized,
validly existing and in good standing or equivalent status under the laws of its jurisdiction of organization and has the corporate, limited partnership or limited liability company, as the case may be, power and authority to own or hold under lease
the properties it purports to own or hold under lease and to transact business as now conducted; 

  
 5 

 (b) such Guarantor has the corporate, limited partnership or limited liability
company, as the case may be, power and authority and the legal right to execute and deliver, and to perform its obligations under, this Guarantee, and has taken all necessary corporate, limited partnership or limited liability company, as the case
may be, action to authorize its execution, delivery and performance of this Guarantee; 
 (c) this Guarantee constitutes a
legal, valid and binding obligation of such Guarantor enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of
creditors’ rights generally and by general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law); 

(d) the execution, delivery and performance of this Guarantee will not violate any provision of any requirement of law or
material contractual obligation of such Guarantor and will not result in or require the creation or imposition of any Lien on any of the properties, revenues or assets of such Guarantor pursuant to the provisions of any material contractual
obligation of such Guarantor or any requirement of law; 
 (e) no consent or approval of, registration or filing with, or
other act by, any Governmental Authority is required as to such Guarantor in connection with the execution, delivery or performance of this Guarantee by such Guarantor or the validity or enforceability of this Guarantee; 

(f) no action, litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to
the knowledge of such Guarantor, threatened in writing by or against such Guarantor or any of its properties or revenues (i) with respect to this Guarantee or any of the transactions contemplated hereby or (ii) which individually or in the
aggregate, would reasonably be expected to have a Material Adverse Effect; 
 (g) the execution, delivery and performance of
this Guarantee by such Guarantor will not violate any provision of any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority, , applicable to such Guarantor or of the certificate or articles of incorporation, by-laws, certificate of formation, articles of organization or operating agreement, as applicable, of such Guarantor or of any securities issued by such Guarantor or of any statute or other rule or regulation of any
Governmental Authority applicable to such Guarantor; and 
 (h) after giving effect to the issuance and sale of the Notes and
the application of the proceeds thereof and due consideration to any rights of contribution and reimbursement, such Guarantor has received fair consideration and reasonably equivalent value for the incurrence of its obligations hereunder or as
contemplated hereunder. 
 SECTION 10. Notices. All notices and communications provided for hereunder shall be in writing and
sent in accordance with Section 18 of the Note Purchase Agreement. 

  
 6 

 SECTION 11. Survival. All warranties, representations and covenants made by each
Guarantor herein or in any certificate or other instrument delivered by it or on its behalf hereunder shall be considered to have been relied upon by the Holders and the Agent and shall survive the execution and delivery of this Guarantee,
regardless of any investigation made by any of the Holders or the Agent. All statements in any such certificate or other instrument shall constitute warranties and representations by such Guarantor hereunder. 

SECTION 12. Jurisdiction and Process; Waiver of Jury Trial. 

(a) Each Guarantor irrevocably submits to the exclusive jurisdiction of any New York or federal court sitting in New York City,
over any suit, action or proceeding arising out of or relating to this Agreement or the Notes. To the fullest extent permitted by applicable law, each Guarantor irrevocably waives and agrees not to assert, by way of motion, as a defense or
otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any
such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 
 (b) Each Guarantor
agrees, to the fullest extent permitted by applicable law, that a final judgment in any suit, action or proceeding of the nature referred to in Section 23.2(a) of the Note Purchase Agreement brought in any such court shall be conclusive and binding
upon it subject to rights of appeal, as the case may be, and may be enforced in the courts of the United States of America or the State of New York (or any other courts to the jurisdiction of which it or any of its assets is or may be subject) by a
suit upon such judgment. 
 (c) Each Guarantor consents to process being served in any suit, action or proceeding of the
nature referred to in Section 12(a) by mailing a copy thereof by registered or certified or priority mail, postage prepaid, return receipt requested, or delivering a copy thereof in the manner for delivery of notices specified in Section 10, to
it. Each Guarantor agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be
taken and held to be valid personal service upon and personal delivery to it. Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial
delivery service. 
 (d) Nothing in this Section 12 shall affect the right of any holder of a Note to serve process in
any manner permitted by law, or limit any right that the holders of any of the Notes may have to bring proceedings against the Company or any Guarantor in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment
obtained in one jurisdiction in any other jurisdiction. 
 (e) EACH GUARANTOR WAIVES TRIAL BY JURY IN ANY ACTION BROUGHT ON
OR WITH RESPECT TO THIS AGREEMENT, THE NOTES OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH. 

  
 7 

 SECTION 13. Miscellaneous. Any provision of this Guarantee that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by applicable law, each Guarantor hereby waives any provision of law that renders any provisions hereof prohibited or
unenforceable in any respect. The terms of this Guarantee shall be binding upon, and inure to the benefit of, each Guarantor, the Holders and the Agent and their respective successors and assigns. No term or provision of this Guarantee may be
changed, waived, discharged or terminated orally, but only by an instrument in writing signed by each Guarantor and the Agent with the consent of the number of Holders required for such amendment in accordance with the Note Purchase Agreement,
except for a release and discharge of this Guarantee permitted by, and in compliance with, Section 1.2(b) of the Note Purchase Agreement. The section and paragraph headings in this Guarantee are for convenience of reference only and shall not
modify, define, expand or limit any of the terms or provisions hereof, and all references herein to numbered sections, unless otherwise indicated, are to sections in this Guarantee. This Guarantee shall be construed and enforced in accordance with,
and the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would require the
application of the laws of a jurisdiction other than such State. 
 [Signature Page follows] 

  
 8 

 IN WITNESS WHEREOF, each Guarantor has caused this Guarantee to be duly executed as of the day
and year first above written. 
  

			
	Eco Services Operations Corp.
	Potters Industries, LLC
	PQ Holdings Inc.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Commercial Research Associates, Inc.
	CPQ Midco I Corporation
	Delpen Corporation
	Philadelphia Quartz Company
	PQ Asia Inc.
	PQ Export Company
	PQ Systems Incorporated
	SAJB Holding Company, LLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	PQ International, Inc.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Potters Industries Holding, Inc.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Potters Holdings II, L.P.
	By: Potters Holdings II GP, LLC, its general partner
		
	By:	 	  

		 	Name:
		 	Title:

  
 9EX-4.4

 Exhibit 4.4 

ECO SERVICES OPERATIONS LLC 
 and

 ECO FINANCE CORP., 
 as Issuers

 and 
 WILMINGTON TRUST,
NATIONAL ASSOCIATION, 
 as Trustee 

8.500% Senior Notes due 2022 
  

 
 INDENTURE 

Dated as of October 24, 2014 
  

 
  

 TABLE OF CONTENTS 

Page 
  

							
	 ARTICLE 1
	    	 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	 
			
	 Section 1.01
	    	Definitions	  	 	1	 
	 Section 1.02
	    	Other Definitions	  	 	39	 
	 Section 1.03
	    	Incorporation by Reference of Trust Indenture Act	  	 	41	 
	 Section 1.04
	    	Rules of Construction	  	 	41	 
	 Section 1.05
	    	Acts of Holders	  	 	43	 
			
	 ARTICLE 2
	    	 THE SECURITIES
	  	 	44	 
			
	 Section 2.01
	    	Amount of Securities	  	 	44	 
	 Section 2.02
	    	Form and Dating	  	 	45	 
	 Section 2.03
	    	Execution and Authentication	  	 	45	 
	 Section 2.04
	    	Registrar and Paying Agent	  	 	46	 
	 Section 2.05
	    	Paying Agent to Hold Money in Trust	  	 	46	 
	 Section 2.06
	    	Holder Lists	  	 	47	 
	 Section 2.07
	    	Transfer and Exchange	  	 	47	 
	 Section 2.08
	    	Replacement Securities	  	 	48	 
	 Section 2.09
	    	Outstanding Securities	  	 	48	 
	 Section 2.10
	    	Temporary Securities	  	 	48	 
	 Section 2.11
	    	Cancellation	  	 	49	 
	 Section 2.12
	    	Defaulted Interest	  	 	49	 
	 Section 2.13
	    	CUSIP Numbers, ISINs, etc	  	 	49	 
	 Section 2.14
	    	Calculation of Principal Amount of Securities	  	 	49	 
			
	 ARTICLE 3
	    	 REDEMPTION
	  	 	50	 
			
	 Section 3.01
	    	Redemption	  	 	50	 
	 Section 3.02
	    	Applicability of Article	  	 	50	 
	 Section 3.03
	    	Notices to Trustee	  	 	50	 
	 Section 3.04
	    	Selection of Securities to Be Redeemed	  	 	50	 
	 Section 3.05
	    	Notice of Optional Redemption	  	 	51	 
	 Section 3.06
	    	Effect of Notice of Redemption	  	 	52	 
	 Section 3.07
	    	Deposit of Redemption Price	  	 	52	 
	 Section 3.08
	    	Securities Redeemed in Part	  	 	52	 
			
	 ARTICLE 4
	    	 COVENANTS
	  	 	52	 
			
	 Section 4.01
	    	Payment of Securities	  	 	52	 
	 Section 4.02
	    	Reports and Other Information	  	 	53	 
	 Section 4.03
	    	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and	  	 	55	 
	 Section 4.04
	    	Limitation on Restricted Payments	  	 	62	 
	 Section 4.05
	    	Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	 	73	 
	 Section 4.06
	    	Asset Sales	  	 	75	 
	 Section 4.07
	    	Transactions with Affiliates	  	 	78	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
 Page 

							
	 Section 4.08
	    	Change of Control	  	 	82	 
	 Section 4.09
	    	Compliance Certificate	  	 	85	 
	 Section 4.10
	    	Further Instruments and Acts	  	 	85	 
	 Section 4.11
	    	Future Subsidiary Guarantors	  	 	85	 
	 Section 4.12
	    	Liens	  	 	85	 
	 Section 4.13
	    	Maintenance of Office or Agency	  	 	86	 
	 Section 4.14
	    	Suspension of Certain Covenants	  	 	86	 
	 Section 4.15
	    	Escrow of Proceeds; Activities Prior to Release	  	 	88	 
	 Section 4.16
	    	Restrictions on Activities of the Co-Issuer	  	 	89	 
			
	 ARTICLE 5
	    	 SUCCESSOR COMPANY
	  	 	90	 
			
	 Section 5.01
	    	Merger, Consolidation or Sale of All or Substantially All Assets	  	 	90	 
	 Section 5.02
	    	Successor Corporation Substituted	  	 	92	 
			
	 ARTICLE 6
	    	 DEFAULTS AND REMEDIES
	  	 	93	 
			
	 Section 6.01
	    	Events of Default	  	 	93	 
	 Section 6.02
	    	Acceleration	  	 	95	 
	 Section 6.03
	    	Other Remedies	  	 	96	 
	 Section 6.04
	    	Waiver of Past Defaults	  	 	96	 
	 Section 6.05
	    	Control by Majority	  	 	96	 
	 Section 6.06
	    	Limitation on Suits	  	 	97	 
	 Section 6.07
	    	Rights of the Holders to Receive Payment	  	 	97	 
	 Section 6.08
	    	Collection Suit by Trustee	  	 	97	 
	 Section 6.09
	    	Trustee May File Proofs of Claim	  	 	97	 
	 Section 6.10
	    	Priorities	  	 	98	 
	 Section 6.11
	    	Undertaking for Costs	  	 	98	 
	 Section 6.12
	    	Waiver of Stay or Extension Laws	  	 	98	 
			
	 ARTICLE 7
	    	 TRUSTEE
	  	 	99	 
			
	 Section 7.01
	    	Duties of Trustee	  	 	99	 
	 Section 7.02
	    	Rights of Trustee	  	 	100	 
	 Section 7.03
	    	Individual Rights of Trustee	  	 	101	 
	 Section 7.04
	    	Trustee’s Disclaimer	  	 	101	 
	 Section 7.05
	    	Notice of Defaults	  	 	102	 
	 Section 7.06
	    	Reports by Trustee to the Holders	  	 	102	 
	 Section 7.07
	    	Compensation and Indemnity	  	 	102	 
	 Section 7.08
	    	Replacement of Trustee	  	 	103	 
	 Section 7.09
	    	Successor Trustee by Merger	  	 	104	 
	 Section 7.10
	    	Eligibility; Disqualification	  	 	105	 
	 Section 7.11
	    	Preferential Collection of Claims Against the Issuers	  	 	105	 
	 Section 7.12
	    	Tax Payment and Tax Withholding Obligations	  	 	105	 
			
	 ARTICLE 8
	    	DISCHARGE OF INDENTURE; DEFEASANCE	  	 	105	 
			
	 Section 8.01
	    	Discharge of Liability on Securities; Defeasance	  	 	105	 
	 Section 8.02
	    	Conditions to Defeasance	  	 	107	 

  
 ii 

 TABLE OF CONTENTS 

(continued) 
 Page 

							
	 Section 8.03
	    	Application of Trust Money	  	 	108	 
	 Section 8.04
	    	Repayment to Issuers	  	 	108	 
	 Section 8.05
	    	Indemnity for Government Securities	  	 	108	 
	 Section 8.06
	    	Reinstatement	  	 	108	 
			
	 ARTICLE 9
	    	 AMENDMENTS AND WAIVERS
	  	 	109	 
			
	 Section 9.01
	    	Without Consent of the Holders	  	 	109	 
	 Section 9.02
	    	With Consent of the Holders	  	 	110	 
	 Section 9.03
	    	Compliance with Trust Indenture Act	  	 	111	 
	 Section 9.04
	    	Revocation and Effect of Consents and Waivers	  	 	112	 
	 Section 9.05
	    	Notation on or Exchange of Securities	  	 	112	 
	 Section 9.06
	    	Trustee to Sign Amendments	  	 	112	 
	 Section 9.07
	    	[Reserved]	  	 	112	 
	 Section 9.08
	    	Additional Voting Terms; Calculation of Principal Amount	  	 	112	 
			
	 ARTICLE 10
	    	 GUARANTEES
	  	 	113	 
			
	 Section 10.01
	    	Guarantees	  	 	113	 
	 Section 10.02
	    	Limitation on Liability	  	 	114	 
	 Section 10.03
	    	Releases	  	 	115	 
	 Section 10.04
	    	Successors and Assigns	  	 	115	 
	 Section 10.05
	    	No Waiver	  	 	115	 
	 Section 10.06
	    	Modification	  	 	116	 
	 Section 10.07
	    	Execution of Supplemental Indenture for Future Guarantors	  	 	116	 
	 Section 10.08
	    	Non-Impairment	  	 	116	 
	 Section 10.09
	    	Benefits Acknowledged	  	 	116	 
			
	 ARTICLE 11
	    	 MISCELLANEOUS
	  	 	116	 
			
	 Section 11.01
	    	Trust Indenture Act Controls	  	 	116	 
	 Section 11.02
	    	Notices	  	 	116	 
	 Section 11.03
	    	Communication by the Holders with Other Holders	  	 	118	 
	 Section 11.04
	    	Certificate and Opinion as to Conditions Precedent	  	 	118	 
	 Section 11.05
	    	Statements Required in Certificate or Opinion	  	 	118	 
	 Section 11.06
	    	When Securities Disregarded	  	 	119	 
	 Section 11.07
	    	Rules by Trustee, Paying Agent and Registrar	  	 	119	 
	 Section 11.08
	    	Legal Holidays	  	 	119	 
	 Section 11.09
	    	GOVERNING LAW; WAIVER OF JURY TRIAL	  	 	119	 
	 Section 11.10
	    	No Recourse Against Others	  	 	119	 
	 Section 11.11
	    	Successors	  	 	119	 
	 Section 11.12
	    	Multiple Originals	  	 	120	 
	 Section 11.13
	    	Table of Contents; Headings	  	 	120	 
	 Section 11.14
	    	Indenture Controls	  	 	120	 
	 Section 11.15
	    	Severability	  	 	120	 
	 Section 11.16
	    	Force Majeure	  	 	120	 
	 Section 11.17
	    	U.S.A. Patriot Act	  	 	120	 
	 Section 11.18
	    	No Adverse Interpretation of Other Agreements	  	 	120	 

  
 iii 

 Appendix A   -     Provisions Relating to Original Securities and Additional
Securities 
 EXHIBIT INDEX 
  

					
	 Exhibit A
	 	    -    	  	Form of Security
	 Exhibit B
	 	    -    	  	Form of Transferee Letter of Representation
	 Exhibit C
	 	    -    	  	Form of Supplemental Indenture

  
 iv 

 CROSS-REFERENCE TABLE 

 

			
	 TIA

Section
	 	 Indenture 

  Section  

	 310(a)
	 	7.10
	 (b)
	 	7.08; 7.10
	 311(a)
	 	7.11
	 (b)
	 	7.11
	 312(a)
	 	2.06
	 (b)
	 	11.03
	 (c)
	 	11.03
	 313(a)
	 	7.06
	 (b)
	 	7.06
	 (c)
	 	7.06
	 (d)
	 	7.06
	 314(a)
	 	4.02; 4.09
	 (b)
	 	 N.A.

	 (c)(1)
	 	11.04
	 (c)(2)
	 	11.04
	 (c)(3)
	 	 N.A.

	 (d)
	 	 N.A.

	 (e)
	 	11.05
	 (f)
	 	4.10
	 315(a)
	 	7.01
	 (b)
	 	7.05
	 (c)
	 	7.01
	 (d)
	 	7.01
	 (e)
	 	6.11

					
	 316(a)(last sentence) 
	 	11.06

			
	 (a)(1)(A)
	 	6.05
	 (a)(1)(B)
	 	6.04
	 (a)(2)
	 	 N.A.

	 (b)
	 	6.07
	 (c)
	 	1.05
	 317(a)(1)
	 	6.08
	 (a)(2)
	 	6.09
	 (b)
	 	2.05
	 318(a)
	 	11.01
	 (b)
	 	 N.A.

	 (c)
	 	 N.A.

 N.A. Means Not Applicable. 

Note: This Cross-Reference Table shall not, for any purposes, be deemed to be part of this 

Indenture. 
  

  
 v 

 INDENTURE dated as of October 24, 2014, among ECO SERVICES OPERATIONS LLC, a Delaware
limited liability company (the “Company”), ECO FINANCE CORP., a Delaware corporation (the “Co-Issuer” and, together with the Company, the “Issuers”), and
WILMINGTON TRUST, NATIONAL ASSOCIATION, as trustee (the “Trustee”). 
 Each party agrees as follows for the benefit of the
other parties and for the equal and ratable benefit of the Holders of (a) $200,000,000 aggregate principal amount of the Issuers’ 8.500% Senior Notes due 2022 issued on the date hereof (the “Original Securities”) and
(b) any Additional Securities (as defined herein) that may be issued after the date hereof in the form of Exhibit A (all such securities in clauses (a) and (b) of this paragraph being referred to collectively as the
“Securities”). The Original Securities and any Additional Securities (as defined herein) shall constitute a single series hereunder. Subject to the conditions and compliance with the covenants set forth herein, the Issuers may issue
an unlimited aggregate principal amount of Additional Securities. 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.01 Definitions. 

“Acquired Indebtedness” means, with respect to any specified Person: 

(1) Indebtedness of any other Person existing at the time such other Person is consolidated, merged or amalgamated with or into or became a
Restricted Subsidiary of such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such other Person merging or amalgamating with or into, or becoming a Restricted Subsidiary of, such specified Person, and

 (2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 

“Acquisition” means the transactions contemplated by the Transaction Agreement. 

“Additional Securities” means additional Securities (other than the Original Securities) issued from time to time under the
terms of this Indenture subsequent to the Issue Date. 
 “Affiliate” of any specified Person means any other Person
directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms
“controlling,” “controlled by” and ‘“under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. 

“Applicable Premium” means, with respect to any Security on any Redemption Date, the greater of: 

 (1) 1.0% of the principal amount of such Security; and 

(2) the excess, if any, of: 

(a) the present value at such Redemption Date of (i) the redemption price of such Security at November 1, 2017 (such
redemption price being set forth in the table appearing in Section 5 of the Securities), plus (ii) all required interest payments due on such Security through November 1, 2017 (excluding accrued but unpaid interest to the Redemption
Date), computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points; over 
 (b)
the then outstanding principal amount of such Security, 
 as calculated by the Company or on behalf of the Company by such Person as the Company shall
designate; provided that such calculation shall not be a duty or an obligation of the Trustee. 
 “Asset Sale”
means: 
 (1) the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions, of
property or assets (including by way of a Sale and Lease-Back Transaction) of the Company or any of its Restricted Subsidiaries (each referred to in this definition as a “disposition”); or 

(2) the issuance or sale of Equity Interests of any Restricted Subsidiary, whether in a single transaction or a series of related transactions
(other than Preferred Stock of Restricted Subsidiaries issued in compliance with Section 4.03 and directors’ qualifying shares and shares issued to foreign nationals as required under applicable law); 

in each case, other than: 
 (a)
any disposition of (i) Cash Equivalents (or other financial assets that were Cash Equivalents when the original Investment was made) or Investment Grade Securities, (ii) surplus, obsolete, used, damaged or worn out property or equipment in
the ordinary course of business (whether now owned or hereafter acquired) or any disposition or consignment of equipment, inventory or goods (or other assets) held for sale in the ordinary course of business, (iii) property no longer used or
useful in the conduct of business of the Company and its Restricted Subsidiaries and (iv) property or equipment that is otherwise economically impracticable to maintain; 

(b) the disposition of all or substantially all of the assets of the Company in a manner permitted pursuant to
Section 5.01 or any disposition that constitutes a Change of Control; 
 (c) the making of any Restricted Payment that
is permitted to be made, and is made, under Section 4.04 or the making of any Permitted Investment; 

  
 2 

 (d) any disposition of assets of the Company or any Restricted Subsidiary or
issuance or sale of Equity Interests of any Restricted Subsidiary in any transaction or series of transactions with an aggregate fair market value not to exceed $10.0 million; 

(e) any disposition of property or assets or issuance of securities by a Restricted Subsidiary to the Company or by the Company
or a Restricted Subsidiary to another Restricted Subsidiary; 
 (f) to the extent allowable under Section 1031 of the
Code, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 
 (g) (i) the sale,
lease, assignment, sublease, license or sublicense of any real or personal property in the ordinary course of business and (ii) the termination of leases in the ordinary course of business; 

(h) any issuance or sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary or any
other disposition of such Unrestricted Subsidiary or any disposition of assets of such Unrestricted Subsidiary; 
 (i) any
disposition arising from foreclosure, casualty, condemnation or any similar action or transfers by reason of eminent domain with respect to any property or other asset of the Company or any of the Restricted Subsidiaries or exercise of termination
rights under any lease, sublease, license, sublicense, concession or other agreement; 
 (j) a transfer of accounts
receivable and related assets of the type specified in the definition of “Receivables Facility” (or a fractional undivided interest therein or pursuant to any factoring or similar arrangement); 

(k) dispositions in connection with the granting of a Lien that is permitted under Section 4.12; 

(l) the issuance by a Restricted Subsidiary of Preferred Stock or Disqualified Stock that is permitted under Section 4.03;

 (m) any financing transaction with respect to property built or acquired by the Company or any Restricted Subsidiary after
the Effective Date, including Sale and Lease-Back Transactions and asset securitizations, permitted by this Indenture; 
 (n)
any grant in the ordinary course of business of any license of patents, trademarks, know-how or any other intellectual property, including, but not limited to, grants of franchises or licenses, franchise or
license master agreements and/or area development agreements; 
 (o) dispositions of receivables in connection with the
compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings; 

  
 3 

 (p) the sale, discount or forgiveness of accounts receivable or notes receivable
in the ordinary course of business or in connection with the collection or compromise thereof or the conversion of accounts receivable to notes receivable; 

(q) the abandonment of intellectual property rights in the ordinary course of business which in the reasonable good faith
determination of the Company are uneconomical or not material to the conduct of the business of the Company and the Restricted Subsidiaries taken as a whole; 

(r) termination of non-speculative Hedging Obligations; 

(s) any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort or other
claims of any kind in the ordinary course of business; 
 (t) sales, transfers and other dispositions of Investments in joint
ventures or any Subsidiary of the Company that is not a Wholly-Owned Subsidiary of the Company to the extent required by, or made pursuant to, buy/sell arrangements between the joint venture or similar parties set forth in the relevant joint venture
arrangements and/or similar binding arrangements; 
 (u) dispositions of real property and related assets in the ordinary
course of business in connection with relocation activities for directors, officers, employees, members of management or consultants of any direct or indirect parent company, the Company or any Subsidiary; 

(v) dispositions and/or terminations of leases, subleases, licenses or sublicenses (including the provision of software under
any open source license), which (i) do not materially interfere with the business of the Company and its Restricted Subsidiaries, taken as a whole, or (ii) relate to closed facilities or the discontinuation of any product line; and 

(w) dispositions of non-core assets acquired in connection with any acquisition
otherwise permitted under this Indenture and sales of Real Estate Assets acquired in any acquisition otherwise permitted under this Indenture; provided that the Net Proceeds received in connection with any such disposition shall be applied in
accordance with Section 4.06 (it being understood that notwithstanding the foregoing such amounts and only such amounts shall not be required to be applied or otherwise comply with clauses (a)(i) or (ii) of Section 4.06). 

“Bank Products” means any services or facilities on account of credit or debit cards, purchase cards, stored value cards or
merchant services constituting a line of credit. 
 “Bankruptcy Code” means Title 11 of the United States Code, as amended.

 “Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign law for relief of debtors. 

  
 4 

 “Business Day” means each day which is not a Legal Holiday. 

“Capital Stock” means: 

(1) in the case of a corporation, shares in the capital of such corporation; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of capital stock; 
 (3) in the case of a partnership or limited liability company, partnership or membership interests (whether
general or limited); and 
 (4) any other interest or participation that confers on a Person the right to receive a share of the profits and
losses of, or distributions of assets of, the issuing Person. 
 “Capitalized Lease Obligation” means, at the time any
determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in
accordance with GAAP. 
 “Capitalized Software Expenditures” means, for any period, the aggregate of all expenditures
(whether paid in cash or accrued as liabilities) by a Person and its Subsidiaries during such period in respect of licensed or purchased software or internally developed software and enhancements that, in conformity with GAAP, are or are required to
be reflected as capitalized costs on the consolidated balance sheet of such Person and such Subsidiaries. 
 “Cash
Equivalents” means: 
 (1) dollars; 

(2) (a) pounds sterling, euro, or any national currency of any participating member state of the EMU; or (b) in the case of any Foreign
Subsidiary that is a Restricted Subsidiary, such local currencies held by them from time to time in the ordinary course of business; 
 (3)
securities issued or directly and unconditionally guaranteed or insured as to interest and principal by the U.S. government or any agency or instrumentality thereof, the obligations of which are backed by the full faith and credit of the U.S., in
each case maturing within one year after such date and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; 

(4) deposits, money market deposits, time deposit accounts, certificates of deposit or bankers’ acceptances (or similar instruments)
maturing within one year after such date, in each case with any bank or trust company organized under, or authorized to operate as a bank or trust company under, the laws of the U.S., any state thereof or the District of Columbia and that has
capital and surplus of not less than $100,000,000 and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; 

  
 5 

 (5) commercial paper maturing within 24 months from the date of creation thereof and having, at
the time of the acquisition thereof, a rating of at least A-2 from S&P or at least P-2 from Moody’s (or, if at any time neither S&P nor Moody’s shall
be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency); 
 (6) marketable short-term
money market and similar securities having a rating of at least P-2 or A-2 from either Moody’s or S&P, respectively (or reasonably equivalent ratings of another
internationally recognized ratings agency) and in each case maturing within 24 months after the date of creation thereof and in a currency permitted under clause (1) or (2) above; 

(7) readily marketable direct obligations issued by any state, commonwealth or territory of the United States or any political subdivision or
taxing authority thereof having an Investment Grade Rating from either Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized rating agency) with maturities of 24 months or less from the date of acquisition;

 (8) Indebtedness or Preferred Stock issued by Persons with a rating of “A” or higher from S&P or “A2” or higher
from Moody’s (or reasonably equivalent ratings of another internationally recognized ratings agency) with maturities of 24 months or less from the date of acquisition and in each case in a currency permitted under clause (1) or (2) above;

 (9) Investments with average maturities of 12 months or less from the date of acquisition in money market funds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s and in each case in a currency permitted under clause (1) or (2) above; 

(10) institutional money market funds registered under the Investment Company Act of 1940; 

(11) in the case of any Foreign Subsidiaries, investments equivalent to those referred to in clauses (3) through (10) above denominated in
foreign currencies customarily used by persons for cash management purposes in any jurisdiction outside the United States; and 
 (12)
investment funds (including shares of any money market mutual fund) investing substantially all of their assets in securities of the types described in clauses (1) through (11) above. 

Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clauses
(1) and (2) above, provided that such amounts are converted into any currency listed in clauses (1) and (2) as promptly as practicable and in any event within ten Business Days following the receipt of such amounts. 

“Cash Management Services” means any of the following to the extent not constituting a line of credit: treasury and/or cash
management services, including, without limitation, other netting services, overdraft protections, automated clearing-house arrangements, employee credit card programs, controlled disbursement services, ACH transactions, return items, interstate
depository network services, foreign exchange facilities, deposit and other accounts and merchant services (including, for the avoidance of doubt, all “Banking Services” as defined in the Senior Credit Facilities). 

  
 6 

 “Change of Control” means the occurrence of any of the following after the
Effective Date: 
 (1) the sale, lease or transfer, in one or a series of related transactions (other than by way of merger or
consolidation), of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person other than one or more Permitted Holders; or 

(2) the Company becomes aware of (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written
notice or otherwise) the acquisition by (A) any Person (other than one or more Permitted Holders) or (B) Persons (other than one or more Permitted Holders) that are together (1) a group (within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Exchange Act, or any successor provision), or (2) are acting, for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the
Exchange Act), as a group, in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule
13d-3 under the Exchange Act, or any successor provision) of more than 50% of the total voting power of the Voting Stock of the Company or any of its direct or indirect parent companies holding directly or
indirectly 100% of the total voting power of the Voting Stock of the Company; provided that the creation of a Parent Company shall not in and of itself cause a Change of Control. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

“Company” means the party named as such in the preamble to this Indenture and successors thereto. 

“Consolidated Depreciation and Amortization Expense” means, with respect to any Person for any period, (a) the total
amount of depreciation and amortization expense, including without limitation the amortization of intangible assets (including amortization of deferred launch costs), deferred financing fees and Capitalized Software Expenditures, of such Person and
its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP and (b) the depreciation of assets of such Person and its Subsidiaries acquired under Capitalized Lease Obligations, which is
expensed in cost of goods sold and not included in depreciation and amortization under GAAP. 
 “Consolidated Interest
Expense” means, with respect to any Person for any period, without duplication, the sum of: 
 (1) consolidated interest expense of
such Person and its Restricted Subsidiaries paid or payable in respect of such period, to the extent such expense was deducted (and not added back) in computing Consolidated Net Income (including (a) amortization of original issue discount
resulting from the issuance of Indebtedness at less than par, (b) all commissions, discounts and other fees and charges owed with respect to letters of credit, bank guarantees, bankers’ acceptances, ancillary facilities or any similar
facility or financing and hedging agreements, (c) non-cash interest payments (but excluding any non-cash interest expense

  
 7 

 
attributable to the movement in the mark to market valuation of Hedging Obligations or other derivative instruments pursuant to GAAP), (d) the interest component of Capitalized Lease Obligations,
and (e) net payments, if any, made (less net payments, if any, received) pursuant to interest rate Hedging Obligations with respect to Indebtedness, and excluding (i) penalties and interest related to taxes, (ii) amortization of
deferred financing fees, debt issuance costs, discounted liabilities, commissions, fees and expenses, (iii) any expensing of bridge, commitment and other financing fees, (iv) commissions, discounts, yield and other fees and charges
(including any interest expense) related to any Receivables Facility and (v) any expense resulting from the discounting of Indebtedness in connection with the application of recapitalization accounting or, if applicable, acquisition
accounting); plus 
 (2) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether
paid or accrued; less 
 (3) interest income of such Person and its Restricted Subsidiaries for such period. 

For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by the Company to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Consolidated Net Income” means, with respect to any Person for any period, the aggregate of the Net Income, of such Person
and its Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP; provided, however, that, without duplication, 

(1) any after-tax effect of extraordinary, non-recurring or
unusual gains, income, losses, expenses or charges (including costs of and payments of actual or prospective legal settlements, fines, judgments or orders), Transaction Expenses, severance, relocation costs, integration costs, consolidation and
costs related to the opening, closure, relocation and/or consolidation of facilities, signing, retention or completion costs and bonuses, recruiting costs, recruiting and hiring bonuses, transition costs, costs incurred in connection with
acquisitions (whether or not consummated) after the Effective Date (including integration costs), consulting fees, legal fees and taxes related to issuances of significant options and curtailments or modifications to pension and post-retirement
employee benefit plans and corporate reorganization shall be excluded; 
 (2) the Net Income for such period shall not include the cumulative
effect of a change in accounting principles during such period; 
 (3) any net after-tax gains,
charges or losses with respect to disposed, abandoned, closed or discontinued operations (other than assets held for sale) and any accretion or accrual of discounted liabilities and on the disposal of disposed, abandoned and discontinued operations
and facilities, plans or distribution centers that have been closed during such period, shall be excluded; 

  
 8 

 (4) any after-tax effect of gains, income, losses,
expenses or charges (less all fees and expenses relating thereto) attributable to asset dispositions (including asset retirement costs) or returned surplus assets of any employee pension benefit plan other than in the ordinary course of business
shall be excluded; 
 (5) the Net Income (or loss) for such period of any Person that is not a Subsidiary, or is an Unrestricted Subsidiary,
or that is accounted for by the equity method of accounting, shall be excluded; provided that Consolidated Net Income of such Person shall be increased by the amount of dividends or distributions or other payments (including any ordinary
course dividend, distribution or other payment) that are actually paid in cash (or to the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period by such Person; 

(6) solely for the purpose of determining the amount available for Restricted Payments under Section 4.04(a)(3)(A), the Net Income for such
period of any Restricted Subsidiary (other than any Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of its Net Income is not at the date of determination
permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation
applicable to that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived, provided that Consolidated Net Income shall be increased by the
amount of dividends or other distributions or other payments actually paid in cash (or to the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period, to the extent not already included
therein; 
 (7) effects of adjustments (including the effects of such adjustments pushed down to such Person and its Restricted Subsidiaries)
in the Person’s consolidated financial statements pursuant to GAAP (including in the inventory, property and equipment, software, goodwill, intangible assets, in-process research and development, deferred
revenue, deferred rent, deferred trade incentives and other lease-related items and debt line items thereof) resulting from the application of recapitalization accounting or acquisition accounting, as the case may be, in relation to the Transactions
or any consummated acquisition or the amortization or write-off or removal of revenue otherwise recognizable on any amounts thereof, net of taxes, shall be excluded or added back in the case of lost revenue;

 (8) any after-tax effect of income (loss) (less all fees and expenses or charges related thereto)
from the early extinguishment or conversion of Indebtedness or Hedging Obligations or other derivative instruments shall be excluded; 
 (9)
any (i) goodwill or other asset impairment charges, write-offs or write-downs or (ii) amortization of intangibles shall be excluded; 

(10) any taxes based on income, profits, or capital that are not paid or payable currently in cash (i.e.,
non-cash book tax amounts) shall be excluded; 

  
 9 

 (11) any non-cash compensation charge, cost, expense,
accrual or reserve including any such charge, cost, expense, accrual or reserve arising from the grant of stock appreciation or similar rights, stock options, restricted stock or other equity incentive programs, and any cash charges associated with
the rollover, acceleration or payment of management equity in connection with the Transactions shall be excluded; 
 (12) any fees,
commissions and expenses incurred during such period, or any amortization or write-off thereof for such period in connection with any acquisition, Investment, Asset Sale, issuance or repayment of Indebtedness,
issuance of Equity Interests, refinancing transaction or amendment or modification of any debt instrument (in each case, including any such transaction consummated prior to the Effective Date and any such transaction undertaken but not completed)
and any charges or non-recurring merger costs incurred during such period as a result of any such transaction shall be excluded; 

(13) accruals and reserves that are established or adjusted within twelve months after the Effective Date that are so required to be
established or adjusted as a result of the Transactions in accordance with GAAP shall be excluded; 
 (14) any unrealized or realized net
gain or loss resulting from currency translation or transaction gains or losses impacting net income (including currency remeasurements of Indebtedness) and any foreign currency translation or transaction gains or losses shall be excluded; 

(15) any unrealized net gains and losses resulting from Hedging Obligations and the application of Accounting Standards Codification #815 shall
be excluded; 
 (16) to the extent covered by insurance and actually reimbursed, or, so long as the Company has made a good faith
determination that it expects to receive reimbursement within 365 days (with a deduction for any amount so added back to the extent not so reimbursed within such 365 days), (x) the amount of any fee, cost, expense or reserve with respect to
liability or casualty events or business interruption shall be excluded, and (y) proceeds of such insurance in an amount representing the earnings for the applicable period that such proceeds are intended to replace shall be included; and 

(17) to the extent actually reimbursed or reimbursable by third parties pursuant to indemnification or reimbursement provisions or similar
agreements or insurance, fees, costs, expenses or reserves incurred to the extent covered by indemnification provisions in any agreement in connection with any sale of Capital Stock, acquisition, Permitted Investment, Restricted Payment, Asset Sale,
disposition, recapitalization, mergers, consolidations or amalgamations, option buyouts or incurrences, repayments, refinancings, amendments or modifications of Indebtedness (in each case, including any such transaction consummated prior to the
Effective Date) shall be excluded. 
 Notwithstanding the foregoing, for the purpose of Section 4.04 hereof only (other than clause
(3)(D) of Section 4.04(a) hereof) there shall be excluded from Consolidated Net Income any income arising from any sale or other disposition of Restricted Investments made by the Company and its Restricted Subsidiaries, any repurchases and
redemptions of Restricted Investments from the Company and its Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted Investments by the Company or any of its Restricted Subsidiaries, any sale of the stock of an
Unrestricted Subsidiary or any distribution or dividend from an Unrestricted Subsidiary, in each case only to the extent such amounts increase the amount of Restricted Payments permitted under clause (3)(D) of Section 4.04(a) or clause (vii)(b) of
Section 4.04(b). 

  
 10 

 “Consolidated Secured Debt Ratio” means, as of any date of determination, the
ratio of (1) Consolidated Total Indebtedness of such Person and its Restricted Subsidiaries that is secured by Liens as of such date of determination to (2) EBITDA of such Person and its Restricted Subsidiaries, in each case with such
pro forma adjustments to Consolidated Total Indebtedness and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio.” 

“Consolidated Total Assets” means, at any date, all amounts that would, in conformity with GAAP, be set forth opposite the
caption “total assets” (or like caption) on a consolidated balance sheet of the Company and its Subsidiaries at such date. 

“Consolidated Total Indebtedness” means, as to any Person at any date of determination, an amount equal to the sum of
(1) the aggregate amount of all outstanding Indebtedness of such Person and its Restricted Subsidiaries on a consolidated basis consisting of Indebtedness for borrowed money, Obligations in respect of Capitalized Lease Obligations and debt
obligations evidenced by promissory notes and similar instruments (and including, for the avoidance of doubt, all obligations relating to Receivables Facilities) and (2) the aggregate amount of all outstanding Disqualified Stock of such Person
and all Preferred Stock of its Restricted Subsidiaries on a consolidated basis, with the amount of such Disqualified Stock and Preferred Stock equal to the greater of their respective voluntary or involuntary liquidation preferences and maximum
fixed repurchase prices, in each case determined on a consolidated basis in accordance with GAAP, less unrestricted cash and Cash Equivalents included on the consolidated balance sheet of such Person and any Restricted Subsidiaries as of such date.
For purposes hereof, the “maximum fixed repurchase price” of any Disqualified Stock or Preferred Stock that does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock or Preferred
Stock as if such Disqualified Stock or Preferred Stock were purchased on any date on which Consolidated Total Indebtedness shall be required to be determined pursuant to this Indenture, and if such price is based upon, or measured by, the fair
market value of such Disqualified Stock or Preferred Stock, such fair market value shall be determined reasonably and in good faith by the Company. 

“Consolidated Total Leverage Ratio” means, as of any date of determination, the ratio of (1) Consolidated Total
Indebtedness of such Person and its Restricted Subsidiaries as of such date of determination to (2) EBITDA of such Person and its Restricted Subsidiaries, in each case with such pro forma adjustments to Consolidated Total Indebtedness
and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio.” 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends
or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any
obligation of such Person, whether or not contingent, 

  
 11 

 (1) to purchase any such primary obligation or any property constituting direct or indirect
security therefor; 
 (2) to advance or supply funds: 

(a) for the purchase or payment of any such primary obligation; or 

(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of
the primary obligor; or 
 (3) to purchase property, securities or services primarily for the purpose of assuring the owner of any such
primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 

“Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business related
to this Indenture shall be principally administered, which office at the date of the execution of this instrument is located at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, Attention: Corporate Client Services, or such
other address as the Trustee may designate from time to time by notice to the Issuers, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the
Issuers). 
 “Credit Facilities” means, with respect to the Company or any Restricted Subsidiary, one or more debt
facilities, including the Senior Credit Facilities, or other financing arrangements (including, without limitation, commercial paper facilities with banks or other institutional lenders or investors or indentures) providing for revolving credit
loans, term loans, letters of credit or other long-term indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications,
extensions, renewals, restatements, amendments and restatements, or refundings thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that refinance any part of the
loans, notes or other securities, other credit facilities or commitments thereunder, including any such refinancing facility or indenture that increases the amount permitted to be borrowed thereunder or alters the maturity thereof (provided
that such increase in borrowings is permitted under Section 4.03 hereof) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender or group of lenders. 

“Custodian” means the Trustee, as custodian with respect to the Securities in global form, or any successor entity thereto.

 “Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of
Default. 
 “Depositary” means, with respect to the Securities issuable or issued in whole or in part in global form, the
Person specified in Section 2.04 hereof as the Depositary with respect to the Securities, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 

  
 12 

 “Designated Non-cash Consideration”
means the fair market value of non-cash consideration received by the Company or a Restricted Subsidiary in connection with an Asset Sale that is so designated as Designated
Non-cash Consideration pursuant to an Officer’s Certificate of the Company, setting forth the basis of such valuation, less the amount of Cash Equivalents received in connection with a subsequent sale,
redemption, repurchase of, or collection or payment on, such Designated Non-cash Consideration. 

“Designated Preferred Stock” means Preferred Stock of the Company, any Restricted Subsidiary or any direct or indirect parent
company thereof (in each case other than Disqualified Stock) that is issued for cash (other than to a Restricted Subsidiary or an employee stock ownership plan or trust established by the Company or any of its Subsidiaries) and is so designated as
Designated Preferred Stock, pursuant to an Officer’s Certificate of the Company, on the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth in clause (3) of Section 4.04(a). 

“Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person which, by its terms, or by the terms
of any security into which it is convertible or for which it is redeemable or exchangeable, or upon the happening of any event, matures or is mandatorily redeemable (other than solely as a result of a change of control or asset sale) pursuant to a
sinking fund obligation or otherwise or is redeemable at the option of the holder thereof (other than solely as a result of a change of control or asset sale), in whole or in part, in each case prior to the date 91 days after the earlier of the
maturity date of the Securities or the date the Securities are no longer outstanding; provided, however, that if such Capital Stock is issued to any current or former employee or to any plan for the benefit of employees, directors,
officers, members of management or consultants of the Company or its Subsidiaries or by any such plan to such employees, directors, officers, members or management or consultants, such Capital Stock shall not constitute Disqualified Stock solely
because it may be required to be repurchased by the Company or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s, director’s, officer’s, management member’s or
consultant’s termination, death or disability. 
 “Domestic Subsidiary” means a Subsidiary incorporated or organized
under the laws of the United States of America, any State thereof or the District of Columbia. 
 “EBITDA” means, with
respect to any Person for any period, the Consolidated Net Income of such Person for such period: 
 (1) increased (without duplication) by:

 (a) provision for taxes based on income or profits or capital (including pursuant to any tax sharing or tax distribution
arrangements), including, without limitation, federal, state, local, provincial, foreign, excise, franchise, property and similar taxes and foreign withholding taxes and foreign unreimbursed value added taxes (including, in each case, penalties and
interest related to such taxes or arising from tax examinations) of or with respect to such Person paid or accrued during such period deducted (and not added back) in computing Consolidated Net Income; plus 

  
 13 

 (b) Fixed Charges of such Person for such period plus bank fees and costs of
surety bonds in connection with financing activities, plus amounts excluded from Consolidated Interest Expense as set forth in clauses (i), (ii), (iii), (iv) and (v) in the definition thereof, to the extent the same were deducted (and not added
back) in calculating such Consolidated Net Income plus commissions, discounts and other fees and charges owed with respect to letters of credit, bankers’ acceptance or any similar facilities or financing and Hedging Obligations; plus

 (c) Consolidated Depreciation and Amortization Expense of such Person for such period to the extent the same was deducted
(and not added back) in computing Consolidated Net Income; plus 
 (d) (i) Transaction Expenses and
(ii) transaction fees, costs and expenses (including rationalization, legal, tax and structuring fees, costs and expenses) incurred in connection with the consummation of any transaction (or any transaction proposed and not consummated)
permitted under this Indenture, including any Equity Offering, Permitted Investment, Restricted Payments, acquisitions, dispositions, recapitalizations, mergers, consolidations or amalgamations, option buyouts or incurrences, repayments,
refinancings, amendments or modifications of Indebtedness (including any amortization or write-off of debt issuance or deferred financings costs, premiums and prepayment penalties) or similar transactions or
any Qualifying IPO, including (x) such fees, expenses or charges related to the offering of the Securities and the Senior Credit Facilities, (y) any amendment or other modification of the Securities and the Senior Credit Facilities and
(z) commissions, discounts, yield and other fees and charges (including any interest expense related to any Receivables Facility), in each case, deducted (and not added back) in computing Consolidated Net Income; plus 

(e) the amount of any costs, charges, accruals, reserves or expenses attributable to the undertaking and/or implementation of
cost savings (including sourcing), operating expense reductions, operating improvements, product margin synergies and product cost and other synergies and similar initiatives, integration, transition, reconstruction, decommissioning, recommissioning
or reconfiguration of fixed assets for alternative uses, restructuring costs (including those related to tax restructurings), charges, accruals, reserves or expenses attributable to the undertaking and/or implementation of cost savings initiatives,
operating expense reductions, business optimization and other restructuring costs, charges, accruals, reserves and expenses (including, without limitation, inventory optimization programs, software development costs, the opening, closure, relocation
and/or consolidation of facilities and plants, unused warehouse space costs, costs related to entry into new markets, unused warehouse space costs, and consulting and other professional fees, signing or retention costs, retention or completion
charges or bonuses, relocation expenses, severance payments, curtailments and modifications to or losses on settlement of pension and post-retirement employee benefit plans, excess pension charges, contract termination costs, future lease
commitments, new system design and implementation costs and project startup costs and expenses attributable to the implementation of cost savings initiatives and professional and consulting fees incurred in connection with any of the foregoing);
plus 

  
 14 

 (f) any other non-cash charges or losses,
including (i) any write offs or write downs, (ii) the vesting of warrants and stock options and other equity based awards compensation, (iii) losses on sales, disposals or abandonment of, or any impairment charges or asset write off
related to, intangible assets, long-lived assets and investments in debt and equity securities, (iv) all losses from investments recorded using the equity method (other than to the extent funded with cash) and (v) other non-cash charges, non-cash expenses or non-cash losses reducing Consolidated Net Income for such period (provided that if any such
non-cash charges, expenses or losses represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from EBITDA to
such extent, and excluding amortization of a prepaid cash item that was paid in a prior period); plus 
 (g) the
amount of any minority interest expense consisting of Subsidiary income attributable to minority equity interests of third parties in any non-Wholly-Owned Subsidiary deducted (and not added back) in such
period in calculating Consolidated Net Income; plus 
 (h) the amount of management, monitoring, consulting,
transaction and advisory fees (including termination fees) and related indemnities and expenses paid or accrued in such period to the Permitted Holders or other persons with a similar interest in the Company or its direct or indirect parent
companies to the extent otherwise permitted under Section 4.07 and deducted (and not added back) in such period in computing Consolidated Net Income; plus 

(i) expected cost savings (including sourcing), operating expense reductions, other operating improvements and expense
reductions and product margin synergies and product cost and other synergies projected by the Company in good faith to be realized as a result of (i) the Transactions and (ii) specified actions taken or to be taken by the Company or any of
its Restricted Subsidiaries (calculated on a pro forma basis as though such cost savings, operating improvements and expense reductions and synergies had been realized on the first day of such period and as if such cost savings, operating
improvements and expense reductions and synergies were realized during the entirety of such period), net of the amount of actual benefits realized during such period from such actions; provided that such cost savings, expense reductions,
operating improvements and synergies are reasonably identifiable and factually supportable and are reasonably anticipated to be realized within 24 months after the change, acquisition or disposition that is expected to result in such cost savings,
expense reductions, or operating improvements and other synergies (which adjustments may be incremental to pro forma adjustments made pursuant to the definition of “Fixed Charge Coverage Ratio”); plus 

(j) the amount of loss on sale of receivables and related assets to the Receivables Subsidiary in connection with a Receivables
Facility; plus 
 (k) (i) any charges, costs, expenses, accruals or reserves incurred by the Company or a
Restricted Subsidiary pursuant to any management equity plan, profits interest or stock option plan or any other management or employee benefit plan or agreement, pension plan or other long-term or post-employment benefit, any stock

  
 15 

 
subscription or shareholder agreement or any distributor equity plan or agreement, including any fair value adjustments that may be required under liquidity puts for such arrangements,
(ii) any charges, costs, expenses, accruals or reserves in connection with the rollover, acceleration or payout of Capital Stock held by management of the Company, any direct or indirect parent company and/or any of its subsidiaries, in each
case to the extent that such charges, costs, expenses, accruals or reserves are funded with cash proceeds contributed to the capital of the Company as a result of capital contribution or as a result of the sale or issuance of Capital Stock (other
than Disqualified Stock) of the Company solely to the extent that such net cash proceeds are excluded from the calculation set forth in Section 4.04(a)(3) and (iii) any charges, costs, or expenses incurred in respect of bonus payments pursuant
to employee incentive programs (including any bonus plans) that exceed 100% of the total amount projected for such payments; plus 

(l) cash receipts (or any netting arrangements resulting in reduced cash expenditures) not representing EBITDA or Net Income in
any period to the extent non-cash gains relating to such income were deducted in the calculation of EBITDA pursuant to clause (2) below for any previous period and not added back; plus 

(m) earn-out and contingent consideration obligations incurred or accrued in connection
with any acquisition or other Permitted Investment and paid or accrued during such period and on similar acquisitions and Permitted Investments completed prior to the Effective Date; plus 

(n) with respect to any joint venture that is not a Restricted Subsidiary, an amount equal to the proportion of those items
described in clauses (a) to (c) above relating to such joint venture corresponding to such Person’s and its Restricted Subsidiaries’ proportionate share of such joint venture’s Consolidated Net Income (determined as if such joint
venture were a Restricted Subsidiary); plus 
 (o) costs associated with, or in anticipation of, or preparation for,
compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith and Public Company Costs; plus 

(p) at the option of the Company, (A) the excess of GAAP rent expense over actual cash rent paid, including the benefit of
lease incentives (in the case of a charge) during such period due to the use of straight line rent or the application of fair value adjustments made as a result of recapitalization or purchase accounting, in each case, for GAAP purposes,
(B) the non-cash amortization of tenant allowances and (C) the cash portion of sublease rentals received by such Person; provided that, in each case, if any such
non-cash charge represents an accrual or reserve for potential cash items in any future period, such Person may determine not to add back such non-cash charge in the
current period; plus 
 (q) the Consolidated Net Income attributable to the Company based on the percentage ownership
of any joint venture that is accounted for under the equity method; plus 

  
 16 

 (r) the amount of travel expenses, payroll taxes, indemnification payments,
director’s fees and any other charges, costs, expenses, accruals or reserves incurred in connection with, or amounts payable to, any director of the board of the Company or its parent entities in connection with such director serving as a
member of such board of directors (or similar governing body) and performing his or her duties in respect thereof. 
 (2) decreased (without
duplication) by: 
 (a) non-cash gains increasing Consolidated Net Income of such
Person for such period, excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced EBITDA in any prior period and any non-cash gains with respect to cash actually received in a prior period so long as such cash did not increase EBITDA in such prior period, plus 

(b) any net income from disposed or discontinued operations; and 

(3) increased or decreased by (without duplication), as applicable, any adjustments resulting from the application of ASC Topic Number 460
(Guarantees). 
 “Effective Date” means (1) if the Acquisition is consummated on or prior to the Issue Date,
the Issue Date and (2) otherwise, the Escrow Release Date. 
 “EMIT” means economic and monetary union as contemplated
in the Treaty on European Union. 
 “Equity Interests” means Capital Stock and all warrants, options or other rights to
acquire Capital Stock, but excluding any debt security that is convertible into, or exchangeable for, Capital Stock. 
 “Equity
Offering” means any public or private sale of common stock or Preferred Stock of the Company or any of its direct or indirect parent companies (excluding Disqualified Stock), other than: 

(1) public offerings with respect to the Company’s or any direct or indirect parent company’s common stock registered on Form S-8; 
 (2) issuances to any Subsidiary of the Company; and 

(3) any such public or private sale that constitutes an Excluded Contribution. 

“euro” means the single currency of participating member states of the EMU. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Excluded Contribution” means net cash proceeds, marketable securities or Qualified Proceeds received by the
Company after the Effective Date from: 

  
 17 

 (1) contributions to its common equity capital, and 

(2) the sale (other than to a Subsidiary of the Company or to any management equity plan or stock option plan or any other management or
employee benefit plan or agreement of the Company) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Company, 
 in
each case designated as Excluded Contributions pursuant to an Officer’s Certificate of the Company on or promptly after the date such capital contributions are made or the date such Equity Interests are sold, as the case may be, which are
excluded from the calculation set forth in Section 4.04(a)(3). 
 “Fixed Charge Coverage Ratio” means, with respect to any
Person for any period, the ratio of (1) EBITDA of such Person and its Restricted Subsidiaries for such period to (2) the Fixed Charges of such Person and its Restricted Subsidiaries for such period. In the event that such Person or any of
its Restricted Subsidiaries incurs, assumes, guarantees, repurchases, redeems, retires or extinguishes any Indebtedness (other than Indebtedness under any revolving credit facility or revolving advances under any Receivables Facility, in which case
interest expense shall be computed based upon the average daily balance of such Indebtedness during such applicable period) or issues, repurchases or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for
which the Fixed Charge Coverage Ratio is being calculated but prior to or simultaneously with the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Fixed Charge Coverage Ratio Calculation Date”), then
the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee, repurchase, redemption, retirement or extinguishment of Indebtedness, or such issuance, repurchase or redemption of
Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period for which internal financial statements are available; provided, however, that the pro forma calculation
shall not give any effect to any Indebtedness incurred on such determination date pursuant to Section 4.03(b). 
 Notwithstanding anything
in this definition to the contrary, when calculating the Consolidated Secured Debt Ratio, the Consolidated Total Leverage Ratio or the Fixed Charge Coverage Ratio, as applicable, in connection with the financing of an acquisition, the date of
determination of such ratio and of any default or event of default blocker shall, at the option of the Company, be the date the definitive agreements for such acquisition are entered into and such ratios shall be calculated on a pro forma
basis after giving effect to such acquisition and the other transactions to be entered into in connection therewith (including any incurrence of Indebtedness and the use of proceeds therefrom) as if they had occurred at the beginning of the four
quarter reference period and, for the avoidance of doubt, (x) if any such ratios are exceeded as a result of fluctuations in such ratio (including due to fluctuations in EBITDA of the Company or the target company) at or prior to the
consummation of the relevant acquisition, such ratios will not be deemed to have been exceeded as a result of such fluctuations for the purpose of determining whether such acquisition is permitted hereunder and (y) such ratios shall not be
tested at the time of consummation of such acquisition or related transactions; provided, that if the Company elects to have such determinations occur at the time of entry into such definitive agreement, any such transaction shall be deemed
to have occurred on the date the definitive agreements are entered 

  
 18 

 
into and will be deemed outstanding thereafter for purposes of calculating any ratios under this Indenture after the date of such agreement and before consummation of the acquisition. For the
avoidance of doubt, for purposes of determining the amount available for Restricted Payments under clause (2) or (3)(A) of Section 4.04(a) or clause (ii), (vi) and (xviii) of Section 4.04(b), Consolidated Net Income shall not include any
Consolidated Net Income of or attributable to the target company or assets acquired unless and until the closing of such acquisition shall have occurred. 

For purposes of making the computation referred to above, Investments, acquisitions, dispositions, amalgamations, mergers (including the
Transactions), consolidations and discontinued operations (as determined in accordance with GAAP) and any operational changes that the Company or any of its Restricted Subsidiaries has determined to make (solely with respect to operational changes)
or has made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Fixed Charge Coverage Ratio Calculation Date shall be calculated on a pro forma basis assuming that all
such Investments, acquisitions, dispositions, amalgamations, mergers, consolidations, discontinued operations and operational changes (and the change in any associated fixed charge obligations and the change in EBITDA resulting therefrom) had
occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged, amalgamated or consolidated with or into the Company or any of its
Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition, disposition, amalgamation, merger, consolidation, discontinued operation or operational change that would have required adjustment pursuant to
this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation, merger, amalgamation, consolidation or
operational change had occurred at the beginning of the applicable four-quarter period. 
 For purposes of this definition, whenever pro
forma effect is to be given to an Investment, acquisition (including the Transactions), disposition, amalgamation, merger, consolidation, discontinued operation or operational change, the pro forma calculations shall be made in good faith
by a responsible financial or accounting officer of the Company (and may include (to the extent not already included in EBITDA), (a) cost savings (including sourcing), operating expense reductions and other operating improvements or synergies
resulting from such Investment, acquisition, disposition, amalgamation, merger, consolidation (including the Transactions), discontinued operation or operational change, which is being given pro forma effect that have been or are expected to
be realized and reasonably identifiable and factually supportable and are reasonably anticipated to be realized within 24 months after the change, acquisition or disposition that is expected to result in such cost savings, expense reductions, or
operating improvements and other synergies and (b) adjustments of the nature used in connection with the calculation of “Adjusted EBITDA” as set forth in footnote 2 (including, with respect to any period ending prior to, or
including, the Effective Date, the adjustments set forth in the line items captioned “estimated standalone costs,” “Aroma contract adjustment” and “Silica contract adjustment,” which adjustments shall reflect the
amounts set forth in such line items in the Offering Circular) to “Offering Circular Summary—Summary Historical and Unaudited Pro Forma Condensed Financial Information” in the Offering Circular). If any Indebtedness bears a
floating rate of interest and is being given pro forma effect, the interest on such Indebtedness 

  
 19 

 
shall be calculated as if the rate in effect on the Fixed Charge Coverage Ratio Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations
applicable to such Indebtedness). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Company to be the rate of interest implicit in
such Capitalized Lease Obligation in accordance with GAAP. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be
deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Company may designate. Interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall
be computed based upon the average daily balance of such indebtedness during the applicable period. 
 For purposes of this definition, any
amount in a currency other than U.S. dollars will be converted to U.S. dollars based on the exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination in a manner consistent with GAAP. 

“Fixed Charges” means, with respect to any Person for any period, the sum, without duplication, of: 

(1) Consolidated Interest Expense of such Person for such period; 

(2) all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Preferred Stock during such
period; and 
 (3) all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Disqualified
Stock during such period. 
 “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States which are in effect on the Issue Date, except for
any reports required to be delivered under Section 4.02, which shall be prepared in accordance with GAAP in effect on the date thereof. At any time after the Issue Date, the Company may irrevocably elect to apply IFRS accounting principles in
lieu of GAAP, and upon any such election, references herein to GAAP shall thereafter be construed to mean IFRS pursuant to the previous sentence. 

“Government Securities” means securities that are: 

(1) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged; or 

(2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely
payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, 
 which, in either case, are not
callable or redeemable at the option of the issuers thereof, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or a
specific payment of 

  
 20 

 
principal of or interest on any such Government Securities held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law) such
custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Securities or the specific payment of principal of or interest
on the Government Securities evidenced by such depository receipt. 
 “Governmental Authority” means any federal, state,
municipal, national or other government, governmental department, commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative, judicial, regulatory or
administrative functions of or pertaining to any government or any court (including any supra-national body exercising such powers or functions, such as the European Union or the European Central Bank), in each case whether associated with a state
or locality of the U.S., the U.S., or a foreign government. 
 “guarantee” means a guarantee (other than by endorsement of
negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations.

 “Guarantee” means the guarantee by any Guarantor of the Issuers’ Obligations under this Indenture and the
Securities pursuant to Article 10. 
 “Guarantor” means each Person that Guarantees the Securities in accordance with the
terms of this Indenture. 
 “Hedging Obligations” means, with respect to any Person, the obligations of such Person under
any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity collar agreement, foreign exchange contract, currency swap agreement or similar agreement
providing for the transfer or mitigation of interest rate, commodity price or currency risks either generally or under specific contingencies (including, for the avoidance of doubt, under all “Hedging Obligations” as defined in the Senior
Credit Facilities). 
 “Holder” means the Person in whose name a Security is registered in the Securities Register. 

“Holdings” means Eco Services Group Holdings LLC. 

“IFRS” means international accounting standards within the meaning of International Accounting Standards Regulation
1606/2002, as in effect from time to time, to the extent relevant to the applicable financial statements. 
 “Indebtedness”
means, with respect to any Person, without duplication: 
 (1) any indebtedness (including principal and premium) of such Person, whether or
not contingent: 

  
 21 

 (a) in respect of borrowed money; 

(b) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without
duplication, reimbursement agreements in respect thereof); 
 (c) representing the balance deferred and unpaid of the
purchase price of any property (including Capitalized Lease Obligations), except (i) any such balance that constitutes an obligation in respect of a commercial letter of credit, a trade payable or similar obligation, in each case accrued in the
ordinary course of business, (ii) any earn-out obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and is not paid after becoming due and
payable and (iii) any such obligations under ERISA or liabilities associated with customer prepayments; or 
 (d)
representing any Hedging Obligations; 
 if and to the extent that any of the foregoing Indebtedness (other than letters of credit (other
than commercial letters of credit) and Hedging Obligations) would appear as a liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 

(2) to the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or otherwise, on the
obligations of the type referred to in clause (1) of a third Person (whether or not such items would appear upon the balance sheet of such obligor or guarantor), other than by endorsement of negotiable instruments for collection in the ordinary
course of business; and 
 (3) to the extent not otherwise included, the obligations of the type referred to in clause (1) of a third
Person secured by a Lien on any asset owned by such first Person, whether or not such Indebtedness is assumed by such first Person; provided, however, that the amount of such Indebtedness will be the lesser of (i) the fair market
value of such asset at such date of determination, and (ii) the amount of such Indebtedness of such other Person; 
 provided, however,
that notwithstanding the foregoing, Indebtedness shall be deemed not to include (1) Contingent Obligations incurred in the ordinary course of business and (2) deferred or prepaid revenues. 

Notwithstanding anything in this Indenture to the contrary, Indebtedness shall not include, and shall be calculated without giving effect to,
the effects of Accounting Standards Codification Topic 815 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Indenture as a result of accounting for any
embedded derivatives created by the terms of such Indebtedness; and any such amounts that would have constituted Indebtedness under this Indenture but for the application of this sentence shall not be deemed an incurrence of Indebtedness under this
Indenture. 
 “Indenture” means this Indenture as amended or supplemented from time to time. 

  
 22 

 “Independent Financial Advisor” means an accounting, appraisal, investment
banking firm or consultant, in each case of nationally recognized standing that is, in the good faith judgment of the Company, qualified to perform the task for which it has been engaged. 

“Initial Purchasers” means Credit Suisse Securities (USA) LLC, Jefferies LLC, Citigroup Global Markets Inc. and KeyBanc
Capital Markets Inc. 
 “Intermediate Holdings” means Eco Services Intermediate Holdings LLC. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or, in either case, an equivalent rating by any other Rating Agency. 

“Investment Grade Securities” means: 

(1) securities issued or directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof
(other than Cash Equivalents); 
 (2) securities or instruments with an Investment Grade Rating, but excluding any debt securities or
instruments constituting loans or advances among the Company and its Subsidiaries; 
 (3) investments in any fund that invests exclusively in
investments of the type described in clauses (1) and (2) which fund may also hold immaterial amounts of cash pending investment or distribution; and 

(4) corresponding instruments in countries other than the United States customarily utilized for high quality investments. 

“Investments” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in
the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit, advances to customers, commission, travel and similar advances to officers, directors, managers, distributors, consultants and
employees, in each case made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by GAAP to be
classified on the balance sheet (excluding the footnotes thereto) of the Company in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. The amount of
any Investment shall be deemed to be the amount actually invested, without adjustment for subsequent increases or decreases in value or any write-downs or write-offs, but giving effect to any repayments thereof in the form of loans and any return on
capital or return on Investment in the case of equity Investments (whether as a distribution, dividend, redemption or sale but not in excess of the amount of such Investment). For purposes of the definition of “Unrestricted Subsidiary” and
Section 4.04: 
 (1) “Investments” shall include the portion (proportionate to the Company’s equity interest in such
Subsidiary) of the fair market value of the net assets of a Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a
Restricted Subsidiary, the Company shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to: 

  
 23 

 (a) the Company’s “Investment” in such Subsidiary at the time of
such redesignation; less 
 (b) the portion (proportionate to the Company’s equity interest in such Subsidiary)
of the fair market value of the net assets of such Subsidiary at the time of such redesignation; and 
 (2) any property transferred to or
from an Unrestricted Subsidiary shall be valued at its fair market value at the time of such transfer, in each case as determined in good faith by the Company. 

“Investors” means CCMP Capital Advisors, LLC and their Affiliates but not including, however, any of their operating
portfolio companies. 
 “Issue Date” means October 24, 2014. 

“Issuers” means the parties named as such in the Preamble to this Indenture and successors thereto. 

“Legal Holiday” means a Saturday, a Sunday or any other day on which commercial banking institutions are not required by law,
regulation or executive order to be open in the State of New York or in the State at the place of payment. If a payment date at a place of payment is on a Legal Holiday, payment shall be made at that place on the next succeeding Business Day, and no
interest shall accrue on such payment for the intervening period. 
 “Lien” means, with respect to any asset, any mortgage,
lien, deed of trust, hypothecation, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title
retention agreement, any lease in the nature thereof); provided that in no event shall an operating lease be deemed to constitute a Lien. 

“Management Investors” means the officers, directors, managers, employees and other members of the management of the Company,
any direct or indirect parent company of the Company and/or any Subsidiary of Holdings. 
 “Moody’s” means
Moody’s Investors Service, Inc. and any successor to its rating agency business. 
 “Net Income” means, with respect
to any Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 

“Net Proceeds” means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of
any Asset Sale, including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash 

  
 24 

 
Consideration received in any Asset Sale, net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash
Consideration, including legal, accounting and investment banking fees, and brokerage and sales commissions, any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof (including pursuant to any tax sharing or
tax distribution arrangements), amounts required to be applied to the repayment of principal, premium, if any, and interest on Indebtedness (other than Subordinated Indebtedness) secured by a Lien on the assets disposed of required (other than
required by Section 4.06(b)(i)) to be paid as a result of such transaction and any deduction of appropriate amounts to be provided by the Company or any of its Restricted Subsidiaries as a reserve in accordance with GAAP against any liabilities
associated with the asset disposed of in such transaction and retained by the Company or any of its Restricted Subsidiaries after such sale or other disposition thereof, including pension and other post-employment benefit liabilities and liabilities
related to environmental matters or against any indemnification obligations associated with such transaction. 
 “New York
UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 
 “Obligations”
means any principal, interest (including any interest accruing subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such
interest is an allowed claim under applicable state, federal or foreign law), penalties, fees, indemnification, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other
liabilities, and guarantees of payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 

“Offering Circular” means the Offering Circular relating to the offering of the Original Securities dated October 9,
2014. 
 “Officer” means the Chairman of the Board of Managers, the Chief Executive Officer, the Chief Financial Officer,
the President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of an Issuer. 

“Officer’s Certificate” means, with respect to an Issuer, a certificate signed by an Officer of such Issuer, who must be
the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer that meets the requirements set forth in this Indenture. 

“Opinion of Counsel” means a written opinion from legal counsel who is reasonably acceptable to the Trustee. The counsel may
be an employee of or counsel to the Issuers. 
 “Parent Company” means any Person so long as such Person directly or
indirectly owns at least 80.0% of the total voting power of the Capital Stock of the Company, and at the time such Person acquired such voting power, no Person and no group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange
Act or any successor provision), including any such group acting for the purpose of acquiring, holding or disposing of securities (within the meaning 

  
 25 

 
of Rule 13d-5(b)(1) under the Exchange Act) (other than any Permitted Holders), shall have beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provisions), directly or indirectly, of more than 50.0% of the total voting power of the Voting Stock of such Person. 

“Paying Agent” means an office or agency maintained by the Issuers pursuant to the terms of this Indenture, where Securities
may be presented for payment. 
 “Permitted Asset Swap” means the substantially concurrent purchase and sale or exchange of
Related Business Assets or a combination of Related Business Assets and Cash Equivalents between the Company or any of its Restricted Subsidiaries and another Person; provided that any Cash Equivalents received must be applied in accordance
with Section 4.06. 
 “Permitted Holders” means (i) each of the Investors, (ii) each of the Management
Investors and (iii) any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision) of which any of the foregoing are members; provided that, in the case of such group and without
giving effect to the existence of such group or any other group, such Investors and Management Investors, collectively, have beneficial ownership of more than 50% of the total voting power of the Voting Stock of the Company or any of its direct or
indirect parent companies. Any person or group whose acquisition of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision) constitutes a Change of Control in
respect of which a Change of Control Offer is made in accordance with the requirements of Section 4.08 (or would result in a Change of Control Offer in the absence of the waiver of such requirement by Holders in accordance with
Section 4.08) shall thereafter, together with its Affiliates, constitute an additional Permitted Holder. 
 “Permitted
Investments” means: 
 (1) any Investment in the Company or any of its Restricted Subsidiaries; 

(2) any Investment in cash and Cash Equivalents or Investment Grade Securities; 

(3) any Investment by the Company or any of its Restricted Subsidiaries in a Person (including in the Equity Interests of such Person) if as a
result of such Investment (a) such Person becomes a Restricted Subsidiary or (b) such Person, in one transaction or a series of related transactions, is merged, amalgamated or consolidated with or into, or transfers or conveys
substantially all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary, and, in each case, any Investment held by such Person; provided that such Investment was not acquired by such Person in contemplation of such
acquisition, merger, consolidation or transfer; 
 (4) any Investment in securities or other assets not constituting cash, Cash Equivalents
or Investment Grade Securities and received in connection with an Asset Sale made pursuant to Section 4.06(a) or any other disposition of assets not constituting an Asset Sale; 

(5) any Investment existing on, or made pursuant to binding commitments existing on, the Effective Date and any extension, modification,
replacement, renewal or reinvestments of any such Investments existing or committed on the Effective Date (other than reimbursements of Investments in the Company or any Subsidiary); provided that the amount of any such Investment may be
increased (x) as required by the terms of such Investment or commitment as in existence on the Effective Date or (y) as otherwise permitted under this Indenture; 

  
 26 

 (6) any Investment acquired by the Company or any of its Restricted Subsidiaries: 

(a) in exchange for any other Investment or accounts receivable held by the Company or any such Restricted Subsidiary in
connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of, or settlement of delinquent accounts and disputes with or judgments against, the issuer of such other Investment or accounts receivable; 

(b) as a result of a foreclosure by the Company or any of its Restricted Subsidiaries with respect to any secured Investment or
other transfer of title with respect to any secured Investment in default; 
 (c) as a result of the settlement, compromise
or resolution of litigation, arbitration or other disputes with Persons who are not Affiliates; or 
 (d) in settlement of
debts created in the ordinary course of business; 
 (7) Hedging Obligations permitted under clause (x) of Section 4.03(b); 

(8) any Investment in a Similar Business having an aggregate fair market value, taken together with all other Investments made pursuant to this
clause (8) that are at that time outstanding, not to exceed the greater of (x) $50.0 million and (y) 5.0% of Consolidated Total Assets (with the fair market value of each Investment being measured at the time made and without giving effect
to subsequent changes in value); provided, however, that if any Investment pursuant to this clause (8) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such Investment and such
Person becomes a Restricted Subsidiary after such date, such investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (8) for so long as such Person
continues to be a Restricted Subsidiary; 
 (9) Investments the payment for which consists of Equity Interests (exclusive of Disqualified
Stock) of the Company, or any of its direct or indirect parent companies; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under Section 4.04(a)(3); 

(10) guarantees (including Guarantees) of Indebtedness permitted under Section 4.03, performance guarantees and Contingent Obligations in
the ordinary course of business and the creation of liens on the assets of the Company or any of its Restricted Subsidiaries in compliance with Section 4.12, including, without limitation, any guarantee or other obligation issued or incurred
under the Senior Credit Facilities in connection with any letter of credit issued for the account of the Company or any of its Subsidiaries (including with respect to the issuance of, or payments in respect of drawings under, such letters of
credit); 

  
 27 

 (11) any transaction to the extent it constitutes an Investment that is permitted and made in
accordance with the provisions of Section 4.07(b) (except transactions described in clauses (ii), (v) and (viii) thereof); 
 (12)
Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials, services or equipment or purchases of contract rights or licenses or leases of intellectual property; 

(13) Investments having an aggregate fair market value, taken together with all other Investments made pursuant to this clause (13) that
are at that time outstanding (without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of, or have not been subsequently sold or transferred for, cash or marketable securities), not to
exceed the greater of (x) $50.0 million and (y) 5.0% of Consolidated Total Assets (with the fair market value of each investment being measured at the time made and without giving effect to subsequent changes in value); provided,
however, that if any Investment pursuant to this clause (13) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Restricted Subsidiary after such
date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (13) for so long as such Person continues to be a Restricted Subsidiary; 

(14) Investments relating to a Receivables Subsidiary that, in the good faith determination of the Company, are necessary or advisable to
effect any Receivables Facility; 
 (15) loans and advances to, or guarantees of Indebtedness of, officers, directors, employees, managers,
consultants or independent contractors and members of management of the Company (or their respective immediate family members), any of its Subsidiaries or any direct or indirect parent of the Company not in excess of $5.0 million outstanding at
any one time, in the aggregate (calculated without regard to write-downs or write-offs thereof); 
 (16) loans and advances to present or
former officers, directors, employees, consultants, managers, members of management and independent contractors of payroll payments or other compensation and for travel, moving, entertainment and other similar expenses, drawing accounts and similar
expenditures, in each case incurred in the ordinary course of business or consistent with past practices or to fund such Person’s purchase of Equity Interests of the Company or any direct or indirect parent company thereof; 

(17) Investments consisting of licensing or contribution of intellectual property pursuant to joint marketing arrangements with other Persons;

 (18) Investments in prepaid expenses, negotiable instruments held for collection and lease, utility and workers compensation, performance
and similar deposits entered into as a result of the operations of the business in the ordinary course; 
 (19) Investments in any Subsidiary
or any joint venture as required by, or made pursuant to, intercompany cash management arrangements, buy/sell arrangements between the joint venture parties set forth in joint venture agreements and similar binding arrangements or related activities
arising in the ordinary course of business; 

  
 28 

 (20) Investments in the ordinary course of business consisting of endorsements for collection or
deposit and customary trade arrangements with customers; 
 (21) Investments in joint ventures in an aggregate amount not to exceed
$20.0 million outstanding at any one time; 
 (22) the Securities and the related Guarantees; 

(23) guarantees of leases (other than capital leases) or of other obligations not constituting Indebtedness, in each case in the ordinary
course of business; and 
 (24) Investments (i) constituting deposits, prepayments and other credits to suppliers, (ii) made in
connection with obtaining, maintaining or renewing client and customer contracts and (iii) in the form of advances made to distributors, suppliers, licensors and licensees, in each case, in the ordinary course of business or, in the case of
clause (iii), to the extent necessary to maintain the ordinary course of supplies to the Company or any Subsidiary. 
 “Permitted
Liens” means, with respect to any Person: 
 (1) (a) (i) pledges, deposits or security by such Person under workmen’s
compensation laws, unemployment insurance, employers’ health tax and other social security laws or similar legislation or regulations, health, disability or other employee benefits or property and deposits securing liability to insurance
carriers under insurance or self-insurance arrangements in respect of such obligations and (ii) pledges and deposits and other Liens securing liability for reimbursement or indemnification obligations of (including obligations in respect of
letters of credit or bank guarantees for the benefit of) insurance carriers providing property, casualty, liability or other insurance to the Company and its Subsidiaries; or (b) Liens, pledges and deposits in connection with bids, tenders,
contracts (other than for Indebtedness for borrowed money) or leases, statutory obligations, surety, stay, customs, bid and appeal bonds, performance and return of money bonds, bids, leases, government contracts, trade contracts, agreements with
utilities, performance and completion guarantees and other obligations of a like nature (including letters of credit in lieu of any such items or to support the issuance thereof) incurred in the ordinary course of business, including those incurred
to secure health, safety and environmental obligations in the ordinary course of business and obligations in respect of letters of credit or bank guarantees that have been posted to support payment of the items described in this clause (1); 

(2) Liens imposed by law, such as landlord’s, banks’, carriers’, warehousemen’s, workmen’s, materialmen’s,
repairmen’s, construction and mechanics’ Liens, (i) for sums not yet overdue for a period of more than 30 days, (ii) being contested in good faith by appropriate actions or other Liens arising out of judgments or awards against
such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP or (iii) with
respect to which the failure to make payment could not reasonably be expected to have a material adverse effect; 

  
 29 

 (3) Liens for taxes, assessments or other governmental charges (i) not yet overdue for a
period of more than 30 days, (ii) which are being contested in good faith by appropriate actions diligently conducted, if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP, (iii) for
property taxes on property that the Company or one of its Subsidiaries has determined to abandon if the sole recourse for such tax, assessment, charge, levy or claim is to such property or (iv) with respect to which the failure to make payment
could not reasonably be expected to have a material adverse effect; 
 (4) Liens in favor of issuers of performance, surety, bid, indemnity,
warranty, release, appeal or similar bonds or with respect to other regulatory requirements or letters of credit or bankers’ acceptances issued, and completion guarantees provided for, in each case pursuant to the request of and for the account
of such Person in the ordinary course of its business or consistent with past practice prior to the Effective Date; 
 (5) minor survey
exceptions, minor encumbrances, ground leases, easements or reservations of, or rights of others for, licenses, rights-of-way, servitudes, sewers, electric lines,
drains, telegraph and telephone and cable television lines, gas and oil pipelines and other similar purposes, or zoning, building codes or other restrictions (including, without limitation, minor defects or irregularities in title and similar
encumbrances) as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate
materially impair their use in the operation of the business of such Person; 
 (6) Liens securing Indebtedness permitted to be incurred
pursuant to clause (iv), (xii)(b), (xiv)(y), (xviii) or (xxvi) of Section 4.03(b); provided that (a) Liens securing Indebtedness, Disqualified Stock or Preferred Stock to be Incurred pursuant to Section 4.03(b)(iv) or
(xxvi) are limited to the assets financed with such Indebtedness, Disqualified Stock or Preferred Stock and any replacements thereof, additions and accessions thereto and the proceeds and products thereof and related property and (b) Liens
securing Indebtedness permitted to be incurred pursuant to clause (xviii) extend only to the assets of non-Guarantor Subsidiaries; 

(7) Liens existing on the Effective Date; 

(8) Liens existing on property or shares of stock of a Person at the time such Person becomes a Subsidiary; provided, however,
such Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided, further, however, that such Liens may not extend to any other property owned by the
Company or any of its Restricted Subsidiaries; 
 (9) Liens existing on property at the time the Company or a Restricted Subsidiary acquired
the property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Company or any of its Restricted Subsidiaries; provided, however, that such Liens are not created or incurred in connection
with, or in contemplation of, such acquisition, merger, amalgamation or consolidation; provided, further, however, that the Liens may not extend to any other property owned by the Company or any of its Restricted Subsidiaries;

  
 30 

 (10) Liens securing Indebtedness or other obligations of the Company or a Restricted Subsidiary
owing to the Company or another Restricted Subsidiary permitted to be incurred in accordance with Section 4.03; 
 (11) Liens securing
Hedging Obligations and in respect of Cash Management Services so long as the related Indebtedness is permitted to be incurred under this Indenture; 

(12) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in respect of
documentary letters of credit or bankers’ acceptances, a bank guarantee or letters of credit issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

(13) leases, subleases, licenses or sublicenses, grants or permits (including with respect to intellectual property and software) granted to
others in the ordinary course of business which do not materially interfere with the ordinary conduct of the business of the Company or any of its Restricted Subsidiaries and the customary rights reserved or vested in any Person by the terms of any
lease, sublease, license, sublicense, grant or permit, or to require annual or periodic payments as a condition to the continuance thereof; 

(14) Liens arising from Uniform Commercial Code (or equivalent statutes) financing statement filings regarding operating leases or accounts in
connection with any transaction otherwise permitted under this Indenture; 
 (15) Liens in favor of the Issuers or any Guarantor; 

(16) Liens on equipment of the Company or any of its Restricted Subsidiaries granted in the ordinary course of business to the Company’s
or its Subsidiaries’ customers; 
 (17) (a) Liens on accounts receivable and related assets incurred in connection with a Receivables
Facility and (b) Liens on assets sold or transferred or purported to be sold or transferred to a Receivables Subsidiary in connection with a Receivables Facility and the proceeds of such assets; 

(18) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancing, refunding, extensions, renewals
or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8) and (9); provided, however, that (a) such new Lien shall be limited to all or part of the same
property that secured the original Lien (other than the proceeds and products thereof, accessions thereto and improvements on such property), and (b) the Indebtedness secured by such Lien at such time is not increased to any amount greater than
the sum of (i) the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8) and (9) at the time the original Lien became a Permitted Lien under this Indenture, and (ii) an
amount necessary to pay any accrued interest and fees (including original issue discount, upfront fees or similar fees) and expenses, including premiums (including tender premiums), related to such refinancing, refunding, extension, renewal or
replacement; 
 (19) deposits made or other security provided to secure liabilities to insurance carriers under insurance or self-insurance
arrangements in the ordinary course of business; 

  
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 (20) Liens securing judgments for the payment of money not constituting an Event of Default under
Section 6.01(f) so long as such Liens are adequately bonded and any appropriate legal proceedings that may have been duly initiated for the review of such judgment have not been finally terminated or the period within which such proceedings may be
initiated has not expired; 
 (21) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs
duties in connection with the importation of goods in the ordinary course of business; 
 (22) Liens (i) of a collection bank arising
under Section 4-210 of the Uniform Commercial Code on items in the course of collection, (ii) attaching to commodity trading accounts or other commodity brokerage accounts incurred in the ordinary
course of business, and (iii) in favor of banking institutions arising as a matter of law encumbering deposits (including the right of set-off) and which are within the general parameters customary in the
banking industry; 
 (23) Liens deemed to exist in connection with Investments in repurchase agreements or other Cash Equivalents permitted
under Section 4.03; provided that such Liens do not extend to any assets other than those that are the subject of such repurchase agreement or other Cash Equivalent; 

(24) Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or
other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 
 (25) Liens that are contractual
rights of set-off relating to (i) the establishment of depository relations with banks not given in connection with the issuance of Indebtedness, (ii) pooled deposit or sweep accounts of the Company
or any of its Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Company and its Restricted Subsidiaries; (iii) purchase orders and other agreements entered into
with customers of the Company or any of its Restricted Subsidiaries in the ordinary course of business; or (iv) commodity trading or other brokerage accounts incurred in the ordinary course of business; 

(26) Liens solely on any cash earnest money deposits made by the Company or any of its Restricted Subsidiaries in connection with any letter of
intent or purchase agreement permitted under this Indenture; 
 (27) the rights reserved or vested in any Person by the terms of any lease,
license, franchise, grant or permit held by the Company or any of its Restricted Subsidiaries or by a statutory provision, to terminate any such lease, license, franchise, grant or permit, or to require annual or periodic payments as a condition to
the continuance thereof; 
 (28) restrictive covenants affecting the use to which real property may be put; provided, however,
that the covenants are complied with; 

  
 32 

 (29) security given to a public utility or any municipality or governmental authority when
required by such utility or authority in connection with the operations of that Person in the ordinary course of business; 
 (30) zoning by-laws and other land use restrictions, including, without limitation, site plan agreements, development agreements and contract zoning agreements; 

(31) Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods entered into by the Company
or any Restricted Subsidiary in the ordinary course of business; 
 (32) [reserved]; 

(33) (i) customary transfer restrictions and purchase options in joint venture and similar agreements, (ii) Liens on Equity Interests in
joint ventures or Unrestricted Subsidiaries securing capital contributions to, or obligations of, such Persons and (iii) customary rights of first refusal and tag, drag and similar rights in joint venture agreements and agreements with respect
to non-Wholly-Owned Subsidiaries entered into in the ordinary course of business; 
 (34) (i) the
prior rights of consignees and their lenders under consignment arrangements entered into in the ordinary course of business, (ii) Liens arising out of conditional sale, title retention or similar arrangements for the sale of goods in the
ordinary course of business and (iii) Liens arising by operation of law under Article 2 of the Uniform Commercial Code; 
 (35) Liens on
the assets of non-Guarantor Subsidiaries of the Company securing Indebtedness permitted to be incurred by non-Guarantor Subsidiaries under this Indenture; 

(36) other Liens securing obligations not to exceed the greater of (x) $15.0 million and (y) 1.5% of Consolidated Total Assets, at any one
time outstanding; 
 (37) Liens securing reimbursement obligations in respect of documentary letters of credit or bankers’ acceptances
in the ordinary course of business, provided that such Liens attach only to the documents and goods covered thereby and proceeds thereof; and 

(38) Liens incurred to secure Obligations in respect of any Indebtedness permitted to be incurred pursuant to the covenant described under
Section 4.03; provided that, with respect to Liens securing Obligations permitted under this clause (38), at the time of incurrence and after giving pro forma effect thereto, the Consolidated Secured Debt Ratio of the Company and
its Restricted Subsidiaries would be no greater than 4.75 to 1.0. 
 For purposes of determining compliance with this definition, (x) a
Lien need not be incurred solely by reference to one category of Permitted Liens described in this definition but may be incurred under any combination of such categories (including in part under one such category and in part under any other such
category), (y) in the event that a Lien (or any portion thereof) meets the criteria of one or more of such categories of Permitted Liens, the Company shall, in its sole discretion, classify or reclassify such Lien (or any portion thereof) in any
manner that complies with this definition, and (z) in the event that a portion of Indebtedness secured by a 

  
 33 

 
Lien could be classified as secured in part pursuant to clause (38) above (giving effect to the incurrence of such portion of such Indebtedness), the Company, in its sole discretion, may
classify such portion of such Indebtedness (and any Obligations in respect thereof) as having been secured pursuant to clause (38) above and thereafter the remainder of the Indebtedness as having been secured pursuant to one or more of the
other clauses of this definition. 
 For purposes of this definition, the term “Indebtedness” shall be deemed to include interest
on such Indebtedness. 
 “Person” means any individual, corporation, company, limited liability company, partnership, joint
venture, association, joint stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Preferred Stock” means any Equity Interest with preferential rights of payment of dividends or upon liquidation,
dissolution, or winding up. 
 “Public Company Costs” means costs relating to compliance with the provisions of the
Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, as applicable to companies with equity or debt securities held by the public, the rules of national securities exchange companies with listed equity or debt
securities, directors’ or managers’ compensation, fees and expense reimbursement, costs relating to investor relations, shareholder meetings and reports to shareholders or debtholders, directors’ and officers’ insurance and other
executive costs, legal and other professional fees, and listing fees. 
 “Qualified Proceeds” means assets that are used or
useful in, or Capital Stock of any Person engaged in, a Similar Business; provided that the fair market value of any such assets or Capital Stock shall be determined by the Company in good faith. 

“Qualifying IPO” means the issuance and sale by any direct or indirect parent company of its common Capital Stock in an
underwritten primary public offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration statement (whether alone or in connection with a
secondary public offering) pursuant to which the net proceeds are received by any direct or indirect parent company and contributed to the Company or any Restricted Subsidiary. 

“Rating Agencies” means Moody’s and S&P or if Moody’s or S&P or both shall not make a rating on the
Securities publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Company which shall be substituted for Moody’s or S&P or both, as the case may be. 

“Real Estate Asset” means, at any time of determination, all right, title and interest (fee, leasehold or otherwise) of the
Company or any Restricted Subsidiary in and to real property (including, but not limited to, land, improvements and fixtures thereon) of such Person. 

“Receivables Facility” means one or more receivables financing facilities, as amended, supplemented, modified, extended,
renewed, restated or refunded from time to time, the Obligations of which are limited-recourse (except for Securitization Undertakings made in connection with such facilities) to the Company or any of its Restricted Subsidiaries (other than a

  
 34 

 
Receivables Subsidiary) pursuant to which the Company or any of its Restricted Subsidiaries sells its accounts receivable to either (a) a Person that is not a Restricted Subsidiary or
(b) a Receivables Subsidiary that in turn sells its accounts receivable to a Person that is not a Restricted Subsidiary, in each case, with the same or different arrangements, agents, lenders, borrowers or issuer and, in each case, as amended,
restated, amended and restated, supplemented, waived, renewed, refunded, replaced, restructured, repaid, refinanced or otherwise modified in whole or in part from time to time. 

“Receivables Fees” means distributions or payments made directly or by means of discounts with respect to any accounts
receivable or participation interest therein issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Facility. 

“Receivables Subsidiary” means any Subsidiary formed for the purpose of, and that engages only in one or more Receivables
Facilities and other activities reasonably related thereto. 
 “Related Business Assets” means assets (other than cash or
Cash Equivalents) used or useful in a Similar Business, provided that any assets received by the Company or a Restricted Subsidiary in exchange for assets transferred by the Company or a Restricted Subsidiary shall not be deemed to be Related
Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary. 

“Restricted Investment” means an Investment other than a Permitted Investment. 

“Restricted Subsidiary” means, at any time, any direct or indirect Subsidiary of the Company (including the Co-Issuer and any Foreign Subsidiary) that is not then an Unrestricted Subsidiary; provided, however, that upon the occurrence of an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary,
such Subsidiary shall be included in the definition of “Restricted Subsidiary.” 
 “S&P” means
Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and any successor to its rating agency business. 

“Sale and Lease-Back Transaction” means any arrangement providing for the leasing by the Company or any of its Restricted
Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by the Company or such Restricted Subsidiary to a third Person in contemplation of such leasing. 

“SEC” means the U.S. Securities and Exchange Commission. 

“Secured Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries secured by a Lien. 

“Securities” has the meaning given to such term in the Preamble to this Indenture. 

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

  
 35 

 “Securitization Undertakings” means representations, warranties, covenants,
repurchase obligations, indemnities and guarantees of performance entered into by the Company or any Subsidiary of the Company which the Company has determined in good faith to be required by a seller or servicer (or parent of such seller or
servicer) in a Receivables Facility. 
 “Security Register” means the register of Securities, maintained by the Registrar,
pursuant to Section 2.04 hereof. 
 “Senior Credit Facilities” means (1) the credit agreement, dated as of the
Effective Date, among the Issuers, the other borrowers and guarantors party thereto, the subsidiaries of the Company party thereto from time to time, the lenders party thereto from time to time in their capacities as lenders thereunder and Credit
Suisse AG, as administrative agent for the lenders including one or more debt facilities or other financing arrangements (including, without limitation, indentures) providing for term loans, revolving loans or other long-term indebtedness that
replace or refinance such credit facility, including any such replacement or refinancing facility or indenture that increases or decreases the amount permitted to be borrowed thereunder or alters the maturity thereof and whether by the same or any
other agent, lender or group of lenders, and any amendments, supplements, modifications, extensions, renewals, restatements, amendments and restatements or refundings thereof or any such indentures or credit facilities that replace or refinance such
credit facility and (2) whether or not the credit agreement referred to in clause (1) remain outstanding, if designated by the Company to be included in the definition of “Senior Credit Facilities,” one or more (i) debt
facilities or commercial paper facilities, providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to lenders or to special purpose entities formed to borrower from lenders against such
receivables) or letters of credit, (ii) debt securities, indentures or other forms of debt financing (including convertible or exchangeable debt instruments or bank guarantees or bankers’ acceptances) or (iii) instruments or
agreements evidencing any other Indebtedness, in each case, with the same or different arrangements, agents, lenders, borrowers or issuer and, in each case, as amended, restated, amended and restated, supplemented, waived, renewed, refunded,
replaced, restructured, repaid, refinanced or otherwise modified in whole or in part from time to time. 
 “Significant
Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated
pursuant to the Securities Act, as such regulation is in effect on the Effective Date. 
 “Similar Business” means any
business conducted or proposed to be conducted by the Company and its Restricted Subsidiaries on the Effective Date or any business that is a reasonable extension, development or expansion of any of the foregoing or is similar, reasonably related,
incidental or ancillary thereto. 
 “Solvay” means Solvay USA Inc. 

“Sponsor Management Agreement” means that certain management agreement, entered into as of the Effective Date, by and among
the Company, on the one hand, and the Investors and/or one or more of their Affiliates, on the other hand. 

  
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 “Subordinated Indebtedness” means, with respect to the Securities, (1) any
Indebtedness of either Issuer which is by its terms subordinated in right of payment to the Securities, and (2) any Indebtedness of any Guarantor which is by its terms subordinated in right of payment to the Guarantee of such entity of the
Securities. 
 “Subsidiary” means, with respect to any Person, any corporation, partnership, limited liability company,
association, joint venture or other business entity of which more than 50% of the total voting power of stock or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Person or
Persons (whether directors, managers, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by
such Person or one or more of the other subsidiaries of such Person or a combination thereof; provided that in determining the percentage of ownership interests of any Person controlled by another Person, no ownership interests in the nature
of a “qualifying share” of the former Person shall be deemed to be outstanding. 
 “Subsidiary Guarantors” means
each Restricted Subsidiary that provides a Guarantee of the Securities. 
 “Transaction Agreement” means the asset purchase
agreement by and between Eco Acquisition LLC and Solvay USA Inc., dated as of July 30, 2014, as in effect on the Issue Date, including all exhibits and disclosure schedules thereto. 

“Transaction Expenses” means any fees, premiums, expenses, costs or charges (including original issue discount or upfront
fees) incurred or paid by the Company or its Subsidiaries in connection with the Transactions or any related restructuring transactions, including payments to officers, employees and directors as change of control payments, severance payments,
special or retention bonuses and charges for repurchase or rollover of, or modifications to, stock options and/or restricted stock, fees and expenses payable pursuant to the Transition Services Agreement and charges or expenses relating to the
repayment of existing Indebtedness. 
 “Transactions” means the transactions contemplated by the Transaction Agreement, the
issuance of the Securities, borrowings under the Senior Credit Facilities, restructuring transactions contemplated by or necessary to effect the Transactions contemplated by the Transaction Agreement and other actions described under “The
Transactions” in the Offering Circular. 
 “Transition Services Agreement” means that certain transition services
agreement entered into as of the Effective Date by and between the Company and Solvay USA Inc. 
 “Treasury Rate” means, as
of any Redemption Date, the yield to maturity as of such Redemption Date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) that has become
publicly available at least two Business Days prior to the Redemption Date or, in the case of a satisfaction and discharge or defeasance, that has become publicly available as of two Business Days before the Issuers deposit funds required under this
Indenture with the Trustee (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) 

  
 37 

 
most nearly equal to the period from the Redemption Date to November 1, 2017; provided, however, that if the period from the Redemption Date to November 1, 2017 is less
than one year, the weekly average yield on actively traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb). 

“Trust Officer” means when used with respect to the Trustee, any officer assigned to the Corporate Trust division (or any
successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this Indenture, and for purposes of Section 7.01(c)(ii) shall also include any other
officer of the Trustee to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Trustee” means the party named as such in the Preamble of this Indenture until a successor replaces it and, thereafter,
means the successor. 
 “Unrestricted Subsidiary” means: 

(1) any Subsidiary of the Company which at the time of determination is an Unrestricted Subsidiary (as designated by the Company, as provided
below); and 
 (2) any Subsidiary of an Unrestricted Subsidiary. 

The Company may designate any Subsidiary of the Company (including any existing Subsidiary and any newly acquired or newly formed Subsidiary)
to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property of, the Company or any Subsidiary of the Company (other than solely any
Subsidiary of the Subsidiary to be so designated); provided that 
 (1) any Unrestricted Subsidiary must be an entity of which the
Equity Interests entitled to cast at least a majority of the votes that may be cast by all Equity Interests having ordinary voting power for the election of directors or Persons performing a similar function are owned, directly or indirectly, by the
Company; 
 (2) such designation complies with Section 4.04; and 

(3) each of: 
 (a)
the Subsidiary to be so designated; and 
 (b) its Subsidiaries 

has not at the time of designation, and does not thereafter, create, incur, issue, assume, guarantee or otherwise become directly or indirectly
liable with respect to any Indebtedness pursuant to which the lender has recourse to any of the assets of the Company or any Restricted Subsidiary. 

  
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 The Company may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided
that, immediately after giving effect to such designation, no Default shall have occurred and be continuing and either: 
 (1) the
Company could incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.03(a); or 

(2) the Fixed Charge Coverage Ratio for the Company and its Restricted Subsidiaries would be equal to or greater than such ratio for the
Company and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation. 

Any such designation by the Company shall be notified by the Company to the Trustee by promptly filing with the Trustee a copy of the
resolution of the board of directors (or similar governing body) of the Company or any committee thereof giving effect to such designation and an Officer’s Certificate of the Company certifying that such designation complied with the foregoing
provisions. 
 “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time
entitled to vote in the election of the board of directors (or similar governing body) of such Person. 
 “Weighted Average Life to
Maturity” means, when applied to any Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing: 

(1) the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal payment of
such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment; by 

(2) the sum of all such payments. 

“Wholly-Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the outstanding Equity Interests of which
(other than directors’ qualifying shares and shares issued to foreign nationals as required under applicable law) shall at the time be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person or by such Person and one or
more Wholly-Owned Subsidiaries of such Person. 
 SECTION 1.02 Other Definitions. 

 

			
	 Term
	  	Defined
in Section
	 “Acceptable Commitment”
	  	4.06(b)
	 “Affiliate Transaction”
	  	4.07
	 “Appendix”
	  	2.01
	 “Asset Sale Offer”
	  	4.06(b)
	 “Authentication Order”
	  	2.03

  
 39 

			
	 Term
	  	Defined
in Section
	 “Change of Control Offer”
	  	4.08(a)
	 “Change of Control Payment”
	  	4.08(a)
	 “Change of Control Payment Date”
	  	4.08(b)
	 “Clearstream”
	  	Appendix A
	 “covenant defeasance option”
	  	8.01(c)
	 “Covenant Suspension Event”
	  	4.14(a)
	 “Definitive Security”
	  	Appendix A
	 “Depository”
	  	Appendix A
	 “DTC”
	  	1.05(h)
	 “Escrow Account”
	  	4.15(a)
	 “Escrow Agent”
	  	4.15(a)
	 “Escrow Agreement”
	  	4.15(a)
	 “Escrow Letter of Credit”
	  	4.15(a)
	 “Escrow Release Date”
	  	4.15(b)
	 “Escrow Termination Date”
	  	3.09
	 “Escrowed Property”
	  	4.15(a)
	 “Euroclear”
	  	Appendix A
	 “Event of Default”
	  	6.01
	 “Excess Proceeds”
	  	4.06(b)
	 “Global Securities”
	  	Appendix A
	 “Global Securities Legend”
	  	Appendix A
	 “Guaranteed Obligations”
	  	10.01(a)
	 “IAI”
	  	Appendix A
	 “incorporated provision”
	  	11.01
	 “incur”
	  	4.03(a)
	 “Initial Purchasers”
	  	Appendix A
	 “legal defeasance option”
	  	8.01(c)
	 “Original Securities”
	  	Preamble
	 “Pari Passu Indebtedness”
	  	4.06(b)
	 “protected purchaser”
	  	2.08
	 “Purchase Agreement”
	  	Appendix A
	 “QIB”
	  	Appendix A
	 “Refinancing Indebtedness”
	  	4.03(b)(viii)
	 “Refunding Capital Stock”
	  	4.04(b)(ii)(A)
	 “Registrar”
	  	2.04(a)
	 “Regulation S”
	  	Appendix A
	 “Regulation S Global Securities”
	  	Appendix A
	 “Regulation S Permanent Global Security”
	  	Appendix A
	 “Regulation S Temporary Global Security”
	  	Appendix A
	 “Regulation S Securities”
	  	Appendix A
	 “Release”
	  	4.15(b)
	 “Restricted Payments”    
	  	4.04(a)

  
 40 

			
	 Term
	  	Defined
in Section
	 “Restricted Period”
	  	Appendix A
	 “Restricted Securities Legend”
	  	Appendix A
	 “Reversion Date”
	  	4.14(a)
	 “Rule 144A”
	  	Appendix A
	 “Rule 144A Global Securities”
	  	Appendix A
	 “Rule 144A Securities”
	  	Appendix A
	 “Rule 501”
	  	Appendix A
	 “Second Commitment”
	  	4.06(b)
	 “Securities Custodian”
	  	Appendix A
	 “Special Mandatory Redemption”
	  	Exhibit A
	 “Successor Co-Issuer
	  	5.01(b)
	 “Successor Company”
	  	5.01(a)
	 “Successor Person”
	  	5.01(c)
	 “Suspended Covenants”
	  	4.14(a)
	 “Suspension Period”
	  	4.14(a)
	 “Transfer Restricted Securities”
	  	Appendix A
	 “Treasury Capital Stock”
	  	4.04(b)
	 “Unrestricted Definitive Security”
	  	Appendix A
	 “Unrestricted Global Security”
	  	Appendix A

 SECTION 1.03 Incorporation by Reference of Trust Indenture Act. Whenever this Indenture expressly
refers to a provision of the Trust Indenture Act, the provision is incorporated by reference in and made part of this Indenture. The following Trust Indenture Act terms have the following meanings: 

“indenture securities” means the Securities and the Guarantees. 

“indenture security holder” means a Holder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“Obligor” on the securities and the Guarantees means the Issuers and the Guarantors, respectively, and any successor obligor
upon the Securities and the Guarantees, respectively. 
 All other Trust Indenture Act terms used in this Indenture that are defined by the
Trust Indenture Act, defined by Trust Indenture Act reference to another statute or defined by SEC rule have the meanings assigned to them by such definitions. 

SECTION 1.04 Rules of Construction. Unless the context otherwise requires: 

(a) a term has the meaning assigned to it; 

  
 41 

 (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with
GAAP; 
 (c) “or” is not exclusive; 

(d) “including” means including without limitation; 

(e) words in the singular include the plural and words in the plural include the singular; 

(f) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its nature as unsecured
Indebtedness, and senior Indebtedness shall not be deemed to be subordinate or junior to any other senior Indebtedness merely by virtue of its junior priority with respect to the same collateral; 

(g) “$” and “U.S. Dollars” each refer to United States dollars, or such other money of the United States of America that at
the time of payment is legal tender for payment of public and private debts; 
 (h) “consolidated” means, with respect to any
Person, such Person consolidated with its Restricted Subsidiaries, and shall not include any Unrestricted Subsidiary, but the interest of such Person in an Unrestricted Subsidiary shall be accounted for as an Investment; 

(i) “will” shall be interpreted to express a command; 

(j) provisions apply to successive events and transactions; 

(k) unless the context otherwise requires, any reference to an “Appendix,” “Article,” “Section,”
“clause,” “Schedule” or “Exhibit” refers to an Appendix, Article, Section, clause, Schedule or Exhibit, as the case may be, of this Indenture; 

(l) the words “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not
any particular Article, Section, clause or other subdivision; 
 (m) references to sections of, or rules under the Securities Act, the
Exchange Act or the Trust Indenture Act shall be deemed to include substitute, replacement or successor sections or rules adopted by the SEC from time to time; and 

(n) unless otherwise provided, references to agreements and other instruments shall be deemed to include all amendments and other modifications
to such agreements or instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Indenture. 

  
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 SECTION 1.05 Acts of Holders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Issuers. Proof of execution of any such instrument or of a writing appointing any such agent, or the
holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section 7.01) conclusive in favor of the Trustee and the Issuers, if made in the manner provided in this Section 1.05. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by the certificate of any notary public or other officer authorized by law to take acknowledgements of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such
execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing the same. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 
 (c)
The ownership of Securities shall be proved by the Security Register. 
 (d) Any request, demand, authorization, direction, notice, consent,
waiver or other action by the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any
action taken, suffered or omitted by the Trustee or the Issuers in reliance thereon, whether or not notation of such action is made upon such Security. 

(e) The Issuers may, at their option in the circumstances permitted by the Trust Indenture Act, set a record date for purposes of determining
the identity of Holders entitled to give any request, demand, authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to any action by vote or consent authorized or permitted to be given or taken by Holders,
but the Issuers shall have no obligation to do so. 
 (f) Without limiting the foregoing, a Holder entitled to take any action hereunder with
regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard to all or any part of such
principal amount. Any notice given or action taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this Section 1.05(f) shall have the same effect as if given or taken by separate Holders of each such
different part. 
 (g) Without limiting the generality of the foregoing, a Holder, including the Depositary, may make, give or take, by a
proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and the Depositary may provide its proxy to the
beneficial owners of interests in any such Global Security through such Depositary’s standing instructions and customary practices. 

  
 43 

 (h) The Issuers may fix a record date for the purpose of determining the Persons who are
beneficial owners of interests in any Global Security held by The Depository Trust Company (“DTC”) entitled under the procedures of such Depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request,
demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and
only such Persons, shall be entitled to make, give or take such request, demand, authorization, direction, notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. 

ARTICLE 2 
 THE
SECURITIES 
 SECTION 2.01 Amount of Securities. The aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture on the Issue Date is $200,000,000. 
 The Issuers may from time to time after the Issue Date issue Additional
Securities under this Indenture in an unlimited principal amount, so long as (i) the incurrence of the Indebtedness represented by such Additional Securities is at such time permitted by Section 4.03 and (ii) such Additional
Securities are issued in compliance with the other applicable provisions of this Indenture. With respect to any Additional Securities issued after the Issue Date (except for Securities authenticated and delivered upon registration of transfer of, or
in exchange for, or in lieu of, other Securities pursuant to Section 2.07, 2.08, 2.09, 2.10, 3.06, 3.08, 4.08(c) or Appendix A (the “Appendix”)), there shall be (a) established in or pursuant to a resolution of the
board of directors (or similar governing body) of the Issuers and (b) (i) set forth or determined in the manner provided in an Officer’s Certificate of the Issuers or (ii) established in one or more indentures supplemental hereto,
prior to the issuance of such Additional Securities: 
 (1) the aggregate principal amount of such Additional Securities to
be authenticated and delivered under this Indenture; 
 (2) the issue price and issuance date of such Additional Securities,
including the date from which interest on such Additional Securities shall accrue; and 
 (3) if applicable, that such
Additional Securities shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective depositaries for such Global Securities, the form of any legend or legends which shall be borne by such Global
Securities in addition to or in lieu of those set forth in Exhibit A hereto and any circumstances in addition to or in lieu of those set forth in Section 2.2 of the Appendix in which any such Global Security may be exchanged in whole or
in part for Additional Securities registered, or any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof. 

  
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 If any of the terms of any Additional Securities are established by action taken pursuant to a
resolution of the board of directors (or similar governing body) of the Issuers, a copy of an appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Issuers and delivered to the Trustee at or prior to
the delivery of the Officer’s Certificate of the Issuers or the indenture supplemental hereto setting forth the terms of the Additional Securities. 

The Securities, including any Additional Securities, shall be treated as a single class for all purposes under this Indenture, including,
without limitation, waivers, amendments, redemptions and offers to purchase; provided that if any Additional Securities are not fungible with the original notes for U.S. federal income tax purposes, such Additional Securities will have a
separate CUSIP number. 
 SECTION 2.02 Form and Dating. Provisions relating to the Securities are set forth in the Appendix,
which is hereby incorporated into and expressly made a part of this Indenture. The (i) Original Securities and the Trustee’s certificate of authentication and (ii) any Additional Securities and the Trustee’s certificate of
authentication shall each be substantially in the form of Exhibit A hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock
exchange rule, agreements to which any Issuer or any Guarantor is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Issuers). Each Security shall be dated the date of its
authentication. The Securities shall be issuable only in registered form without interest coupons and in denominations of $2,000 and any integral multiples of $1,000 in excess thereof. 

SECTION 2.03 Execution and Authentication. The Trustee shall authenticate and make available for delivery upon a written order of
the Issuers signed by one Officer of each Issuer (an “Authentication Order”) (a) Original Securities for original issue on the date hereof in an aggregate principal amount of $200,000,000 and (b) subject to the terms of this
Indenture, Additional Securities in an aggregate principal amount to be determined at the time of issuance and specified therein. Such Authentication Order shall specify the amount of the Securities to be authenticated and the date on which the
original issue of Securities is to be authenticated. Notwithstanding anything to the contrary in this Indenture or the Appendix, any issuance of Additional Securities after the Issue Date shall be in a principal amount of at least $2,000 and
integral multiples of $1,000 in excess of $2,000. 
 One Officer of each Issuer shall sign the Securities for the Issuers by manual or
facsimile signature. 
 If an Officer whose signature is on a Security no longer holds that office at the time the Trustee authenticates the
Security, the Security shall be valid nevertheless. 
 A Security shall not be entitled to any benefit under this Indenture or valid until
an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 

  
 45 

 The Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuers to
authenticate the Securities. Any such appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Issuers. Unless limited by the terms of such appointment, an authenticating agent may
authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as any Registrar, Paying Agent or agent for
service of notices and demands. 
 SECTION 2.04 Registrar and Paying Agent. 

(a) The Issuers shall maintain (i) an office or agency where Securities may be presented for registration of transfer or for exchange (the
“Registrar”) and (ii) a Paying Agent. The Registrar shall keep a register of the Securities and of their transfer and exchange. The Issuers may have one or more co-registrars and one or
more additional paying agents. The term “Registrar” includes any co-registrars. The term “Paying Agent” includes the Paying Agent and any additional paying agents. The Issuers
initially appoint the Trustee as Registrar, Paying Agent and the Securities Custodian with respect to the Global Securities. The Issuers initially appoint DTC to act as Depositary with respect to the Global Securities. 

(b) The Issuers shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture, which shall
incorporate the terms of the Trust Indenture Act. The agreement shall implement the provisions of this Indenture that relate to such agent. The Issuers shall notify the Trustee in writing of the name and address of any such agent. If the Issuers
fail to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.07. The Issuers or any of their domestically organized Wholly-Owned Subsidiaries may
act as Paying Agent or Registrar. 
 (c) The Issuers may remove any Registrar or Paying Agent upon written notice to such Registrar or Paying
Agent and to the Trustee and without prior notice to any Holder; provided, however, that no such removal shall become effective until (i) if applicable, acceptance of an appointment by a successor as evidenced by an appropriate
agreement entered into by the Issuers and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the
appointment of a successor in accordance with clause (i) above. The Registrar or Paying Agent may resign at any time upon written notice to the Issuers and the Trustee; provided, however, that the Trustee may resign as Paying
Agent or Registrar only if the Trustee also resigns as Trustee in accordance with Section 7.08. 
 SECTION 2.05 Paying Agent to
Hold Money in Trust. One Business Day prior to or on each due date of the principal of and interest on any Security, the Issuers shall deposit with a Paying Agent a sum sufficient to pay such principal and interest when so becoming due. The
Issuers shall require each Paying Agent (other than the Trustee) to agree in writing that a Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by a Paying Agent for the payment of principal of and interest on
the Securities, and shall notify the Trustee in writing of any default by the Issuers in making any such payment. If any Issuer or a Wholly-Owned Subsidiary of any Issuer acts as Paying Agent, it shall segregate the money held by it as Paying Agent
and hold it in trust for the benefit of the Persons entitled thereto. The Issuers at 

  
 46 

 
any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by such Paying Agent. Upon complying with this Section, a Paying Agent shall
have no further liability for the money delivered to the Trustee. Upon any bankruptcy or reorganization proceedings relating to the Issuers, the Trustee shall serve as Paying Agent for the Securities. 

SECTION 2.06 Holder Lists. The Registrar shall preserve in as current a form as is reasonably practicable the most recent list
available to it of the names and addresses of Holders. If the Trustee is not the Registrar, the Issuers shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at least five (5) Business Days before each interest payment
date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders. 

SECTION 2.07 Transfer and Exchange. The Securities shall be issued in registered form and shall be transferable only upon the
surrender of a Security for registration of transfer and in compliance with the Appendix. When a Security is presented to the Registrar with a request to register a transfer, the Registrar shall register the transfer as requested if its requirements
therefor of this Indenture are met. When Securities are presented to the Registrar with a request to exchange them for an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as requested if the same
requirements are met. To permit registration of transfers and exchanges, the Issuers shall execute and the Trustee shall authenticate Securities at the Registrar’s request. The Issuers may require payment of a sum sufficient to pay all taxes,
assessments or other governmental charges in connection with any transfer or exchange pursuant to this Section. The Issuers shall not be required to make, and the Registrar need not register, transfers or exchanges of any Securities
(i) selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) (ii) for a period of 15 days before the mailing of a notice of redemption of Securities to be redeemed or
(iii) between a regular record date and the next succeeding interest payment date. 
 Prior to the due presentation for registration of
transfer of any Security, the Issuers, the Guarantors, the Trustee, the Paying Agent and the Registrar may deem and treat the Person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment
of principal of and interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and none of the Issuers, any Guarantor, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the
contrary. 
 Any Holder of a beneficial interest in a Global Security shall, by acceptance of such beneficial interest, agree that transfers
of beneficial interests in such Global Security may be effected only through a book-entry system maintained by (a) the Holder of such Global Security (or its agent) or (b) any Holder of a beneficial interest in such Global Security, and
that ownership of a beneficial interest in such Global Security shall be required to be reflected in a book entry. 
 All Securities issued
upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. 

  
 47 

 SECTION 2.08 Replacement Securities. If a mutilated Security is surrendered to the
Registrar or if the Holder of a Security claims that the Security has been lost, destroyed or wrongfully taken, the Issuers shall issue and the Trustee shall authenticate a replacement Security if the requirements of
Section 8-405 of the New York UCC are met, such that the Holder (a) satisfies the Issuers or the Trustee within a reasonable time after such Holder has notice of such loss, destruction or wrongful
taking and the Registrar does not register a transfer prior to receiving such notification, (b) makes such request to the Issuers or the Trustee prior to the Security being acquired by a protected purchaser as defined in Section 8-303 of the New York UCC (a “protected purchaser”) and (c) satisfies any other reasonable requirements of the Trustee. Such Holder shall furnish an indemnity bond sufficient in
the judgment of (i) the Trustee to protect the Trustee or (ii) the Issuers to protect the Issuers, the Trustee, a Paying Agent and the Registrar from any loss that any of them may suffer if a Security is replaced. The Issuers and the
Trustee may charge the Holder for their expenses in replacing a Security (including without limitation, attorneys’ fees and disbursements in replacing such Security). In the event any such mutilated, lost, destroyed or wrongfully taken Security
has become or is about to become due and payable, the Issuers in their discretion may pay such Security instead of issuing a new Security in replacement thereof. 

Every replacement Security is an additional obligation of the Issuers. 

The provisions of this Section 2.08 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to
the replacement or payment of mutilated, lost, destroyed or wrongfully taken Securities. 
 SECTION 2.09 Outstanding Securities.
Securities outstanding at any time are all Securities authenticated by the Trustee except for those cancelled by it, those delivered to it for cancellation, those paid pursuant to Section 2.08 and those described in this Section as not
outstanding. Subject to Section 11.06, a Security does not cease to be outstanding because the Issuers or an Affiliate of the Issuers holds the Security. 

If a Security is replaced pursuant to Section 2.08, it ceases to be outstanding unless the Trustee and the Issuers receive proof
satisfactory to them that the replaced Security is held by a protected purchaser. 
 If a Paying Agent segregates and holds in trust, in
accordance with this Indenture, on a redemption date or maturity date or any date of purchase pursuant to an offer to purchase money sufficient to pay all principal and interest payable on that date with respect to the Securities (or portions
thereof) to be redeemed, maturing or purchased, as the case may be, and no Paying Agent is prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Securities (or
portions thereof) cease to be outstanding and interest on them ceases to accrue. 
 SECTION 2.10 Temporary Securities. In the
event that Definitive Securities are to be issued under the terms of this Indenture, until such Definitive Securities are ready for delivery, the Issuers may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall
be substantially in the form of Definitive Securities but may have variations that the Issuers consider appropriate for temporary Securities. Without unreasonable delay, the 

  
 48 

 
Issuers shall prepare and the Trustee shall authenticate Definitive Securities and make them available for delivery in exchange for temporary Securities upon surrender of such temporary
Securities at the office or agency of the Issuers, without charge to the Holder. Until such exchange, temporary Securities shall be entitled to the same rights, benefits and privileges as Definitive Securities. 

SECTION 2.11 Cancellation. The Issuers at any time may deliver Securities to the Trustee for cancellation. The Registrar and each
Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee, or at the direction of the Trustee, the Registrar or the Paying Agent and no one else shall cancel all
Securities surrendered for registration of transfer, exchange, payment or cancellation and shall dispose of cancelled Securities in accordance with its customary procedures (subject to the record retention requirement of the Exchange Act and the
Trustee). The Issuers may not issue new Securities to replace Securities they have redeemed, paid or delivered to the Trustee for cancellation. The Trustee shall not authenticate Securities in place of cancelled Securities other than pursuant to the
terms of this Indenture. 
 SECTION 2.12 Defaulted Interest. If the Issuers default in a payment of interest on the Securities,
the Issuers shall pay the defaulted interest then borne by the Securities (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Issuers may pay the defaulted interest to the Persons who are Holders on a subsequent
special record date. The Issuers shall fix or cause to be fixed any such special record date and payment and shall promptly send or cause to be sent to each affected Holder and the Trustee a notice that states the special record date, the payment
date and the amount of defaulted interest to be paid. 
 SECTION 2.13 CUSIP Numbers, ISINs, etc. The Issuers in issuing the
Securities may use CUSIP numbers, ISINs and “Common Code” numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers, ISINs and “Common Code” numbers in notices of redemption as a convenience to Holders;
provided, however, that any such notice may state that no representation is made as to the correctness of such numbers, either as printed on the Securities or as contained in any notice of a redemption that reliance may be placed only
on the other identification numbers printed on the Securities and that any such redemption shall not be affected by any defect in or omission of such numbers. The Issuers shall promptly advise the Trustee in writing of any change in the CUSIP
numbers, ISINs and “Common Code” numbers. 
 SECTION 2.14 Calculation of Principal Amount of Securities. The aggregate
principal amount of the Securities, at any date of determination, shall be the principal amount of the Securities outstanding at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the
Holders of a specified percentage of the principal amount of all the Securities, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the principal amount, as of such date of determination, of Securities,
the Holders of which have so consented, by (b) the aggregate principal amount, as of such date of determination, of the Securities then outstanding, in each case, as determined in accordance with the preceding sentence, Section 2.09 and
Section 11.06 of this Indenture. Any such calculation made pursuant to this Section 2.14 shall be made by the Issuers and delivered to the Trustee pursuant to an Officer’s Certificate of the Issuers. 

  
 49 

 ARTICLE 3 

REDEMPTION 

SECTION 3.01 Redemption. The Securities may be redeemed, in whole, or from time to time in part, subject to the conditions and at
the redemption prices set forth in Paragraph 5 of the Securities, which are hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest to, but excluding, the redemption date. 

SECTION 3.02 Applicability of Article. Redemption of Securities at the election of the Issuers or otherwise, as permitted or
required by any provision of this Indenture, shall be made in accordance with such provision and this Article. 
 SECTION 3.03
Notices to Trustee. If the Issuers elect to redeem Securities pursuant to the optional redemption provisions of Paragraph 5 of the Security, they shall notify the Trustee in writing of (i) the paragraph or subparagraph of such Security
and the Section of this Indenture pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of Securities to be redeemed and (iv) the redemption price. The Issuers shall give notice to the
Trustee provided for in this Section 3.03 at least 30 days but not more than 60 days before a redemption date, unless (i) a shorter period is acceptable to the Trustee or (ii) the redemption is occurring pursuant to the Special
Mandatory Redemption provision of Paragraph 5 of the Securities, in which case, notice shall be provided not less than five (5) Business Days prior to the redemption date, provided, notice may be given more than 60 days prior to a
redemption date if the notice is issued in connection with Section 8.01. Such notice shall be accompanied by an Officer’s Certificate from the Issuers to the effect that such redemption will comply with the conditions herein. Any such
notice may be cancelled at any time by written notice to the Trustee prior to notice of such redemption being sent to any Holder and shall thereby be void and of no effect. 

SECTION 3.04 Selection of Securities to Be Redeemed. In the case of any partial redemption, the Trustee shall select the
Securities to be redeemed by lot and otherwise in accordance with the customary procedures of the relevant Depositary; provided that the required denominations are maintained and Securities of $2,000 or less shall not be redeemed in part. The
Trustee shall make the selection from outstanding Securities not previously called for redemption. The Trustee may select for redemption portions of the principal of Securities that have denominations larger than $2,000. Securities and portions of
them that the Trustee selects shall be in principal amounts of $2,000 or any integral multiple of $1,000 in excess thereof. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for
redemption. The Trustee shall notify the Issuers as soon as practicable of the Securities or portions of Securities to be redeemed. 
 After
the redemption date, upon surrender of the Security to be redeemed in part only, a new Security or Securities in principal amount equal to the unredeemed portion of the original Security representing the same Indebtedness to the extent not redeemed
shall be issued in the name of the Holder of the Securities upon cancellation of the original Security (or appropriate book entries shall be made to reflect such partial redemption). 

  
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 SECTION 3.05 Notice of Optional Redemption. 

(a) At least 30 days but not more than 60 days before a redemption date pursuant to the optional redemption provisions of Paragraph 5 of the
Security, the Issuers shall mail or cause to be mailed by first-class mail (or otherwise delivered in accordance with the procedures of DTC) a notice of redemption to each Holder whose Securities are to be redeemed (except that such notice of
redemption may be mailed (or otherwise delivered in accordance with the procedures of DTC) (i) more than 60 days prior to a redemption date if the notice is issued in connection with Section 8.01 or (ii) at least five
(5) Business Days prior to the redemption date if the redemption is occurring pursuant to the Special Mandatory Redemption provision set forth in Paragraph 5 of the Securities). 

Any such notice shall identify the Securities to be redeemed and shall state: 

(i) the redemption date; 

(ii) the redemption price and the amount of accrued and unpaid interest to the redemption date; provided that in
connection with a redemption under Paragraph 5(a) of the Security, the initial notice need not set forth the redemption price but only the manner of calculation thereof; 

(iii) the paragraph or subparagraph of the Securities and/or Section of this Indenture pursuant to which the Securities called
for redemption are being redeemed; 
 (iv) the name and address of the Paying Agent; 

(v) that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price, plus accrued
interest; 
 (vi) if fewer than all the outstanding Securities are to be redeemed, the certificate numbers and principal
amounts of the particular Securities to be redeemed, the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities to be outstanding after such partial redemption; 

(vii) that, unless the Issuers default in making such redemption payment or the Paying Agent is prohibited from making such
payment pursuant to the terms of this Indenture, interest on Securities (or portion thereof) called for redemption ceases to accrue on and after the redemption date; 

(viii) the CUSIP number, ISIN and/or “Common Code” number, if any, printed on the Securities being redeemed; and 

(ix) that no representation is made as to the correctness or accuracy of the CUSIP number or ISIN and/or “Common
Code” number, if any, listed in such notice or printed on the Securities. 

  
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 (b) At the Issuers’ written request, the Trustee shall give the notice of redemption in the
Issuers’ names and at the Issuers’ expense. In such event, the Issuers shall provide the Trustee with the information required by this Section at least 15 days (or such shorter period as shall be acceptable to the Trustee, which in the
case of a redemption related to a Special Mandatory Redemption set forth in Paragraph 5 of the Securities, shall be at least one Business Day prior to the date the notice of redemption is required to be delivered to the Holders) prior to the date
such notice is to be provided to Holders. 
 SECTION 3.06 Effect of Notice of Redemption. Once notice of redemption is mailed or
sent in accordance with Section 3.05, Securities called for redemption become due and payable on the redemption date and at the redemption price stated in the notice, except as provided in Paragraph 5(d) of the “Optional Redemption”
provisions of the Security. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price stated in the notice, plus accrued interest, to, but not including, the redemption date. The notice, if sent in a manner herein
provided, shall be conclusively presumed to have been given, whether or not the Holder receives such notice. Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. 

SECTION 3.07 Deposit of Redemption Price. With respect to any Securities, one Business Day prior to the redemption date, the
Issuers shall deposit with the Paying Agent (or, if any Issuer or a Wholly-Owned Subsidiary is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the redemption price of and accrued interest on all Securities or portions
thereof to be redeemed on that date other than Securities or portions of Securities called for redemption that have been delivered by the Issuers to the Trustee for cancellation. On and after the redemption date, interest shall cease to accrue on
Securities or portions thereof called for redemption so long as the Issuers have deposited with the Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid interest on, the Securities to be redeemed, unless the Paying Agent is
prohibited from making such payment pursuant to the terms of this Indenture or applicable law. 
 SECTION 3.08 Securities Redeemed
in Part. Upon surrender of a Security that is redeemed in part, the Issuers shall execute and the Trustee shall authenticate for the Holder (at the Issuers’ expense) a new Security equal in principal amount to the unredeemed portion of the
Security surrendered; provided that each new Security shall be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 

ARTICLE 4 
 COVENANTS

 SECTION 4.01 Payment of Securities. The Issuers shall promptly pay the principal of and interest on the Securities on the
dates and in the manner provided in the Securities and in this Indenture. An installment of principal or interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds as of 11:00 a.m., New York City time,
money sufficient to pay all principal and interest then due and the Trustee or the Paying Agent, as the case may be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture. 

  
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 The Issuers shall pay interest on overdue principal at the rate specified therefor in the
Securities, and it shall pay interest on overdue installments of interest at the same rate borne by the Securities to the extent lawful. 

SECTION 4.02 Reports and Other Information. 

(a) Whether or not the Company is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, so long as any
Securities are outstanding, from and after the Effective Date the Company shall furnish to the Holders and the Trustee: (i)(x) all annual and quarterly financial statements that would be required to be contained in a filing with the SEC on Forms 10-K and 10-Q of the Company, if the Company were required to file such forms, plus a “Management’s Discussion and Analysis of Financial Condition and Results of
Operations”; (y) with respect to the annual and quarterly information, a presentation of Adjusted EBITDA of the Company (the foregoing financial information to be prepared on a basis substantially consistent with the presentation of
non¬GAAP financial measures included in the Offering Circular); and (z) with respect to the annual financial statements only, a report on the annual financial statements by the Company’s independent registered public accounting firm;
it being understood that the Company shall not be required to include, except as otherwise provided in this Section 4.02(a), any other adjustment that would be required by any SEC rule, regulation or interpretation, including but not limited to any
“push down” accounting adjustment; and (ii) all information that would be required to be contained in filings with the SEC on Form 8-K under Items 1.0 1, 1.02, 1.03, 2.01, 2.03, 2.04, 2.05,
2.06, 4.01, 4.02, 5.01 and 5.02(b) and (c)(1) (other than with respect to information otherwise required or contemplated by Item 402 of Regulation S-K) (but excluding, for the avoidance of doubt, financial
statements and exhibits that would be required pursuant to Item 9.01 of Form 8-K other than financial statements and pro forma financial information required pursuant to clauses (a) and (b) of Item
9.01 of Form 8-K (in each case relating to transactions required to be reported pursuant to Item 2.01 of Form 8-K) to the extent available (as determined by the Company
in good faith, which determination shall be conclusive)) if the Company had been a reporting company under the Exchange Act; provided, however, that no such current report will be required to be furnished if the Company determines in
its good faith judgment that such event is not material to Holders or the business, assets, operations, financial position or prospects of the Company and its Restricted Subsidiaries, taken as a whole, and the Company may omit from such disclosure
any terms of such event if the Company determines in its good faith judgment that disclosure of such terms would otherwise cause material competitive harm to the business, assets, operations, financial position or prospects of the Company and its
Restricted Subsidiaries, taken as a whole; provided, that such non-disclosure shall be limited only to those specific provisions that would cause material competitive harm and not the occurrence of the
event itself; provided, further, that no such current report will be required to include a summary of the terms of any employment or compensatory arrangement agreement, plan or understanding between the Company (or any of its
Subsidiaries) and any director, manager or executive officer of the Company (or any of its Subsidiaries). 
 (b) All such annual reports
shall be furnished within 90 days after the end of the fiscal year to which they relate, and all such quarterly reports shall be furnished within 45 days after the end of the fiscal quarter to which they relate; provided that the annual
report for the fiscal year ending December 31, 2014 shall be furnished within 135 days after the end of the 

  
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fiscal year to which it relates and the quarterly report for the first fiscal quarter ending after the Effective Date (commencing with the quarter ended March 31, 2015) shall be furnished
within 75 days after the end of the fiscal quarter to which it relates. All such current reports shall be furnished within the time periods specified in the SEC’s rules and regulations for reporting companies under the Exchange Act. The Company
agrees to use its commercially reasonable efforts to obtain internal financial accounting data for the Eco Services business for the quarter ended September 30, 2014 from Solvay in whatever format Solvay is able to provide no later than 75 days
after the end of such quarter. If, and only if, Solvay provides such information to the Company, such data shall be provided to the Holders. 

(c) Notwithstanding the foregoing, (a) the Company will not be required to furnish any information, certificates or reports required by
(i) Section 302, Section 404 or Section 906 of the Sarbanes-Oxley Act of 2002, or related Items 307 or 308 of Regulation S-K, (ii) Regulation G or Item 10(e) of Regulation S-K promulgated by the SEC with respect to any non-generally accepted accounting principles financial measures contained therein or (iii) Rule 3-05, 3-09 and 3-10 of Regulation S-X, (b) such reports shall not be required to present
compensation or beneficial ownership information and (c) such reports shall not be required to include any exhibits that would have been required to be filed pursuant to Item 601 of Regulation S-K (except
this clause (c) shall not apply to any annual, quarterly or pro forma financial statements otherwise expressly required to be provided under this Section 4.02). 

(d) The Company shall (x) deliver such information and such reports (as well as the details regarding the conference call described below)
to any Holder and, upon request, to any beneficial owner of the Securities, in each case by posting such information on Intralinks or any comparable password-protected online data system which will require a confidentiality acknowledgment, and will
make such information readily available to any prospective investor in the Securities that certifies to the reasonable satisfaction of the Company that it is an eligible purchaser of the Securities, any securities analyst (to the extent providing
analysis of investment in the Securities) or any market maker in the Securities, in each case (i) who agrees to treat such information as confidential or (ii) accesses such information on Intralinks or any comparable password protected
online data system which will require a confidentiality acknowledgment; provided that the Company shall post such information thereon and make readily available any password or other login information to any such prospective investor in the
Securities, any such securities analyst (to the extent providing analysis of investment in the Securities) or any such market maker in the Securities or (y) otherwise provide substantially comparable availability of such reports (as determined
by the Company in good faith) (it being understood that, without limitation, making such reports available on Bloomberg or another private electronic information service shall constitute substantially comparable availability). The Company will hold
a quarterly conference call for all Holders and securities analysts (to the extent providing analysis of investment in the Securities) to discuss such financial information promptly after distribution of such financial information. 

(e) To the extent not satisfied by the foregoing, the Company will also furnish to Holders, securities analysts (to the extent providing
analysis of investment in the Securities) and prospective investors in the Securities upon request the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act, so long as the Securities are not freely transferable
under the Securities Act. 

  
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 (f) If the Company has designated any of its Subsidiaries as an Unrestricted Subsidiary and if
any such Unrestricted Subsidiary or group of Unrestricted Subsidiaries, if taken together as one Subsidiary, would constitute a Significant Subsidiary of the Company, then the annual and quarterly information required by clause (i) of Section
4.02(a) shall include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from
the financial condition and results of operations of such Unrestricted Subsidiaries. 
 (g) Notwithstanding the foregoing, the financial
statements, information and other documents required to be provided as described above, may be those of (i) Holdings or Intermediate Holdings or (ii) any other direct or indirect parent of the Company; provided that, if the
financial information so furnished relates to such direct or indirect parent of the Company, the same is accompanied by consolidating information that summarizes in reasonable detail the differences between the information relating to such parent,
on the one hand, and the information relating to the Company on a standalone basis, on the other hand. 
 (h) The Company will be deemed to
have furnished the reports referred to in Section 4.02(a) if the Company, Holdings or any direct or indirect parent has filed reports containing such information with the SEC. 

(i) Delivery of such reports, information and documents to the Trustee is for informational purposes only and the
Trustee’s receipt of such shall not constitute actual or constructive knowledge or notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants
hereunder (as to which the Trustee is entitled to rely exclusively on an Officer’s Certificate of the Company with respect thereto). The Trustee will have no responsibility whatsoever to monitor whether such filing or posting has occurred or
the timeliness of such filing or posting. 
 SECTION 4.03 Limitation on Incurrence of Indebtedness and Issuance of Disqualified
Stock and Preferred Stock. 
 (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or
indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise (collectively, “incur” and collectively, an “incurrence”) with respect to any
Indebtedness (including Acquired Indebtedness) and the Company shall not issue any shares of Disqualified Stock and shall not permit any Restricted Subsidiary to issue any shares of Disqualified Stock or Preferred Stock; provided,
however, that the Company may incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and any of its Restricted Subsidiaries may incur Indebtedness (including Acquired Indebtedness), issue shares of
Disqualified Stock and issue shares of Preferred Stock, if the Fixed Charge Coverage Ratio for the Company and its Restricted Subsidiaries’ most recently ended four fiscal quarters for which internal financial statements are available
immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or Preferred Stock is issued would have been at least 2.00 to 1.00, determined on a pro forma basis (including a pro forma
application of the net proceeds therefrom), as if the additional 

  
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Indebtedness had been incurred, or the Disqualified Stock or Preferred Stock had been issued, as the case may be, and the application of the proceeds therefrom had occurred at the beginning of
such four quarter period; provided that the amount of Indebtedness (including Acquired Indebtedness), Disqualified Stock and Preferred Stock that may be incurred or issued, as applicable, pursuant to the foregoing by Restricted Subsidiaries
that are not Guarantors under this Section 4.03(a) shall not exceed, in the aggregate, the greater of (x) $50.0 million and (y) 5.0% of Consolidated Total Assets at any one time outstanding. 

(b) Section 4.03(a) shall not apply to: 

(i) Indebtedness incurred pursuant to Credit Facilities by the Company or any Restricted Subsidiary; provided that
immediately after giving effect to any such incurrence, the aggregate principal amount of all Indebtedness incurred under this clause (i) and then outstanding does not exceed $680.0 million plus (ii) an additional amount of Secured
Indebtedness if, after giving pro forma effect to the incurrence of such additional amount of Secured Indebtedness (calculated as if any additional amount were fully drawn on the effective date thereof and any additional amount incurred under
this clause (i) being deemed Secured Indebtedness for purposes of making the determination hereunder) the Consolidated Secured Debt Ratio of the Company and its Restricted Subsidiaries is equal to or less than 4.75:1.00; 

(ii) the incurrence by the Issuers and any Guarantor of Indebtedness represented by the Securities (including any Guarantee)
(other than any Additional Securities); 
 (iii) Indebtedness of the Company and its Restricted Subsidiaries in existence, or
pursuant to commitments existing, on the Effective Date (other than Indebtedness described in clauses (i) and (ii) of this Section 4.03(b)); 

(iv) (x) Indebtedness (including Capitalized Lease Obligations) incurred or Disqualified Stock issued by the Company or
any Restricted Subsidiary and Preferred Stock issued by any Restricted Subsidiary, to finance the purchase, lease, replacement or improvement of property (real or personal) or equipment, whether through the direct purchase of assets or the Capital
Stock of any Person owning such assets and (y) any Indebtedness incurred or Disqualified Stock or Preferred Stock issued to refund, refinance or replace any other Indebtedness incurred or Disqualified Stock or Preferred Stock issued pursuant to
this clause (iv); provided that the aggregate amount of Indebtedness incurred and Disqualified Stock and Preferred Stock issued pursuant to clauses (x) and (y) of this clause (iv) does not exceed the greater of (A)
$50.0 million and (B) 5.0% of Consolidated Total Assets at any one time outstanding; 
 (v) Indebtedness incurred by the
Company or any of its Restricted Subsidiaries constituting reimbursement obligations with respect to letters of credit, bank guarantees or similar instruments supporting trade payables, bankers acceptances, warehouse receipts or similar facilities
issued in the ordinary course of business, including, without limitation, letters of credit in respect of workers’ compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or
self-insurance, unemployment insurance (including premiums related thereto) or other types of social security, pension obligations, vacation pay, health, disability or other employee benefits; 

  
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 (vi) Indebtedness arising from agreements of the Company or its Restricted
Subsidiaries providing for indemnification, adjustment of purchase price, earnouts or similar obligations, in each case, incurred or assumed in connection with an acquisition or disposition of any business, assets or a Subsidiary, other than
guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing such acquisition and Indebtedness arising from guaranties, letters of credit, bank guaranties,
surety bonds, performance bonds or similar instruments securing the performance of the Company or any Restricted Subsidiary pursuant to any such agreement; 

(vii) Indebtedness of the Company to a Restricted Subsidiary; provided that any such Indebtedness owing to a Restricted
Subsidiary that is not a Guarantor is expressly subordinated in right of payment to the Securities within 90 days of the incurrence of such Indebtedness; provided further that any subsequent issuance or transfer of any Capital Stock or any
other event which results in any Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Company or another Restricted Subsidiary or any pledge of such Indebtedness
constituting a Permitted Lien) shall be deemed, in each case, to be an incurrence of such Indebtedness not permitted by this clause (vii); 

(viii) Indebtedness of a Restricted Subsidiary to the Company or another Restricted Subsidiary; provided that if a
Guarantor incurs such Indebtedness to a Restricted Subsidiary that is not a Guarantor, such Indebtedness is expressly subordinated in right of payment to the Guarantee of the Securities of such Guarantor within 90 days of the incurrence of such
Indebtedness; provided further that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any subsequent transfer of any such
Indebtedness (except to the Company or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted Lien) shall be deemed, in each case, to be an incurrence of such Indebtedness not permitted by this clause (viii); 

(ix) shares of Preferred Stock of a Restricted Subsidiary issued to the Company or another Restricted Subsidiary, provided
that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock (except
to the Company or another of its Restricted Subsidiaries) shall be deemed in each case to be an issuance of such shares of Preferred Stock not permitted by this clause (ix); 

(x) (A) Hedging Obligations (excluding Hedging Obligations entered into for speculative purposes) for the purpose of
limiting interest rate risk, exchange rate risk or commodity pricing risk; and (B) Indebtedness in respect of any Bank Products or Cash Management Services provided by any agent or lender party to a Senior Credit Facility or

  
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any affiliate of such agent or lender (or any Person that was an agent or lender or an affiliate of an agent or lender at the time the applicable agreement pursuant to which such Bank Products or
Cash Management Services are provided was entered into) in the ordinary course of business; 
 (xi) obligations (including
reimbursement obligations with respect to guaranties, letters of credit, bank guarantees or other similar instruments) in respect of tenders, statutory obligations, leases, governmental contracts, trade contracts, stay, performance, bid, customs,
appeal and surety bonds and performance and/or return of money bonds and completion guarantees or other obligations of a like nature provided by the Company or any of its Restricted Subsidiaries in the ordinary course of business or consistent with
past practice or industry practices; 
 (xii) (a) Indebtedness or Disqualified Stock of the Company and Indebtedness,
Disqualified Stock or Preferred Stock of any Restricted Subsidiary equal to 100.0% of the net cash proceeds received by the Company since immediately after the Effective Date from the issue or sale of Equity Interests of the Company or cash
contributed to the capital of the Company (in each case, other than proceeds of Disqualified Stock or sales of Equity Interests to the Company or any of its Subsidiaries) as determined in accordance with Sections 4.04(a)(3)(B) and (C) to the
extent such net cash proceeds or cash have not been applied pursuant to such clauses to make Restricted Payments or to make other Investments, payments or exchanges pursuant to Section 4.04(b) or to make Permitted Investments (other than Permitted
Investments specified in clauses (1) and (3) of the definition thereof) and (b) Indebtedness or Disqualified Stock of the Company and Indebtedness, Disqualified Stock or Preferred Stock of any Restricted Subsidiary not otherwise permitted
hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and incurred or
issued, as applicable, pursuant to this clause (xii)(b), does not at any one time outstanding exceed the greater of (x) $60.0 million and (y) 6.0% of Consolidated Total Assets (it being understood that any Indebtedness incurred or Disqualified
Stock or Preferred Stock issued pursuant to this clause (xii) shall cease to be deemed incurred, issued or outstanding for purposes of this clause (xii) but shall be deemed incurred or issued for the purposes of Section 4.03(a) from and
after the first date on which the Company or such Restricted Subsidiary could have incurred such Indebtedness or issued such Disqualified Stock or Preferred Stock under Section 4.03(a) without reliance on this clause (xii)); 

(xiii) the incurrence by the Company or any Restricted Subsidiary of Indebtedness or issuance of Disqualified Stock or the
issuance by any Restricted Subsidiary of Preferred Stock which serves to extend, replace, refund, refinance, renew or defease any Indebtedness incurred (including any existing commitments unutilized thereunder) or Disqualified Stock or Preferred
Stock issued as permitted under Section 4.03(a) and clauses (ii), (iii) and (xii)(a) above, this clause (xiii) and clause (xiv) below of this Section 4.03(b) or any Indebtedness incurred or Disqualified Stock or Preferred Stock issued to
so extend, replace, refund, refinance or renew such Indebtedness, Disqualified Stock or Preferred Stock including additional Indebtedness incurred or 

  
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Disqualified Stock or Preferred Stock issued to pay accrued interest, premiums (including tender premiums), defeasance costs and fees and expenses (including original issue discount, upfront fees
or similar fees) in connection therewith (the “Refinancing Indebtedness”) prior to its respective maturity; provided, however, that such Refinancing Indebtedness: 

(1) has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is incurred or issued which is not less
than the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being extended, replaced, refunded, refinanced, renewed or defeased (except by virtue of prepayment of such Indebtedness); 

(2) to the extent such Refinancing Indebtedness extends, replaces, refunds, refinances, renews or defeases
(x) Indebtedness subordinated to or pari passu with the Securities or any Guarantee thereof, such Refinancing Indebtedness is subordinated to or pari passu with the Securities or the Guarantee at least to the same extent as the Indebtedness
being extended, replaced, refunded, refinanced, renewed or defeased or (y) Disqualified Stock or Preferred Stock, such Refinancing Indebtedness must be Disqualified Stock or Preferred Stock, respectively; and 

(3) shall not include (x) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Company that is not a
Guarantor that refinances Indebtedness, Disqualified Stock or Preferred Stock of the Company, (y) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Company that is not a Guarantor that refinances Indebtedness,
Disqualified Stock or Preferred Stock of a Guarantor, or (z) Indebtedness, Disqualified Stock or Preferred Stock of the Company or a Restricted Subsidiary that refinances Indebtedness, Disqualified Stock or Preferred Stock of an Unrestricted
Subsidiary; 
 and provided, further, that subclause (1) of this clause (xiii) will not apply to any extension,
replacement, refunding, refinancing, renewal or defeasance of any Indebtedness outstanding under a Senior Credit Facility; 

(xiv) (x) Indebtedness or Disqualified Stock of the Company or Indebtedness, Disqualified Stock or Preferred Stock of a
Restricted Subsidiary incurred or issued to finance an acquisition, merger, consolidation or amalgamation or (y) Indebtedness, Disqualified Stock or Preferred Stock of Persons that are acquired by the Company or any Restricted Subsidiary or
merged into or amalgamated or consolidated with or into the Company or a Restricted Subsidiary in accordance with the terms of this Indenture or that is assumed by the Company or any Restricted Subsidiary in connection with such acquisition, which
with respect to this clause (y) is not incurred by such Persons in connection with, or in anticipation of, such acquisition, merger, amalgamation or consolidation; provided that, in the case of each of clauses (x) and (y), after
giving effect to such acquisition, merger, amalgamation or consolidation, either: 

  
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 (1) the Company would be permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.03(a); or 
 (2) the Fixed Charge
Coverage Ratio of the Company and its Restricted Subsidiaries is equal to or greater than immediately prior to such acquisition, merger, amalgamation or consolidation; 

(xv) Indebtedness (1) arising from the honoring by a bank or other financial institution of a check, draft or similar
instrument drawn against insufficient funds in the ordinary course of business and (2) Indebtedness in respect of any commercial credit cards, stored value cards, purchasing cards, treasury management, check drawing and automated payment
services (including depository, overdraft, controlled disbursement, ACH transactions, return items, interstate depository network services, Society for Worldwide Interbank Financial Telecommunication transfers, cash pooling and operational foreign
exchange management), dealer incentive, supplier finance or similar programs, current account facilities, employee credit card programs, overdraft facilities, foreign exchange facilities, payment facilities and, in each case, similar arrangements
and cash management arrangements entered into in the ordinary course of business; 
 (xvi) Indebtedness of the Company or any
of its Restricted Subsidiaries supported by a letter of credit or bank guarantee issued pursuant to a Senior Credit Facility, in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee; 

(xvii) (1) any guarantee by the Company or a Restricted Subsidiary of Indebtedness or other obligations of any Restricted
Subsidiary so long as the incurrence of such Indebtedness incurred by such Restricted Subsidiary is permitted under the terms of this Indenture or (2) any guarantee by a Restricted Subsidiary of Indebtedness of the Company; provided that
such guarantee is incurred in accordance with Section 4.11; 
 (xviii) Indebtedness of
non-Guarantor Subsidiaries of the Company incurred not to exceed, together with any other Indebtedness incurred under this clause (xviii) at any one time outstanding, the greater of (x) $40.0 million
and (y) 4.0% of Consolidated Total Assets (it being understood that any Indebtedness incurred pursuant to this clause (xviii) shall cease to be deemed incurred or outstanding for purposes of this clause (xviii) but shall be deemed incurred
for the purposes of Section 4.03(a) from and after the first date on which the applicable non-Guarantor Subsidiary could have incurred such Indebtedness under Section 4.03(a) without reliance on this clause
(xviii); 
 (xix) Indebtedness of the Company or any of its Restricted Subsidiaries consisting of (1) the financing of
insurance premiums, (2) take-or-pay obligations contained in supply arrangements, in each case incurred in the ordinary course of business and/or
(3) obligations to reacquire assets or inventory in connection with customer financing arrangements in the ordinary course of business; 

  
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 (xx) Indebtedness consisting of Indebtedness issued by the Company or any of its
Restricted Subsidiaries to any stockholders of any direct or indirect parent company or any future, present or former employee, officer, director, member of management, consultant or independent contractor (or the estate, heirs, family members,
spouse, former spouse, domestic partner or former domestic partner of any of the foregoing), or any direct or indirect parent thereof, in each case to finance the purchase or redemption of Equity Interests of the Company, a Restricted Subsidiary or
any of their direct or indirect parent companies to the extent described in Section 4.04(b)(iv); 
 (xxi) (1)
Indebtedness incurred by a Receivables Subsidiary in a Receivables Facility that is not recourse to the Company or any Restricted Subsidiary other than the Receivables Subsidiary (except for Securitization Undertakings) and (2) to the extent
constituting Indebtedness, obligations of the Company or a Restricted Subsidiary as seller or servicer under a Receivables Facility and any guarantee by the Company of such Indebtedness; 

(xxii) Indebtedness of the Company or any Restricted Subsidiary as an account party in respect of trade letters of credit
issued in the ordinary course of business; 
 (xxiii) Indebtedness consisting of obligations owing under dealer incentive,
supply, license or similar agreements entered into in the ordinary course of business; 
 (xxiv) Indebtedness representing
deferred compensation to directors, officers, employees, members of management, managers or consultants of the Company or any of its Restricted Subsidiaries or any direct or indirect parent company incurred in the ordinary course of business and
deferred compensation or other similar arrangements in connection with the Transactions or in connection with any Investments or any Restricted Payments permitted pursuant to Section 4.04; 

(xxv) Indebtedness in an aggregate principal or face amount at any time outstanding not to exceed $10.0 million in respect
of letters of credit, bank guaranties, surety bonds, performance bonds and similar instruments issued for general corporate purposes and denominated in currencies other than dollars, euros or pounds sterling; and 

(xxvi) Indebtedness arising in respect of Sale and Lease-Back Transactions not to exceed $30.0 million. 

For purposes of determining compliance with this Section 4.03, in the event that an item of Indebtedness, Disqualified Stock or Preferred
Stock (or any portion thereof) meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (i) through (xxvi) above or is entitled to be incurred pursuant to
Section 4.03(a), then the Company shall, in its sole discretion, classify or reclassify, or later divide, classify or reclassify, such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) in any manner that complies
with this Section 4.03; provided that all Indebtedness outstanding under the Senior Credit Facilities on the Effective Date shall be treated as incurred on the Effective Date under Section 4.03(b)(i). 

  
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 Accrual of interest or dividends, the accretion of accreted value, the accretion or amortization
of original issue discount, and the payment of interest or dividends in the form of additional Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, of the same class, accretion or amortization of liquidation preference and
increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an incurrence of Indebtedness or an issuance of Disqualified Stock or Preferred Stock for purposes of
this Section 4.03. Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of
such amount of Indebtedness; provided that the incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section 4.03. 

For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness, the U.S.
dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the case of term debt, or first committed
or first incurred (whichever yields the lower U.S. dollar equivalent), in the case of revolving credit debt; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such
refinancing would cause the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to
have been exceeded so long as the principal amount of such refinancing Indebtedness (plus premium (including tender premiums), fees, defeasance costs, accrued interest and expenses including original issue discount, upfront fees or similar fees)
does not exceed the principal amount of such Indebtedness being refinanced. 
 The principal amount of any Indebtedness incurred to
refinance other Indebtedness, if incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that
is in effect on the date of such refinancing. The Company shall not, and shall not permit any Subsidiary Guarantor to, directly or indirectly, incur any Indebtedness (including Acquired Indebtedness) that is contractually subordinated or junior in
right of payment to any Indebtedness of the Company or such Subsidiary Guarantor, as the case may be, unless such Indebtedness is expressly subordinated in right of payment to the Securities or such Subsidiary Guarantor’s Guarantee within 90
days of the incurrence of such Indebtedness to the extent and in the same manner as such Indebtedness is subordinated to other Indebtedness of the Company or such Subsidiary Guarantor, as the case may be. 

For purposes of this Indenture, Indebtedness that is unsecured shall not be deemed to be subordinated or junior to Secured Indebtedness merely
because it is unsecured, and senior indebtedness shall not be deemed to be subordinated or junior to any other senior indebtedness merely because it has a junior priority with respect to the same collateral. 

SECTION 4.04 Limitation on Restricted Payments. 

(a) The Company shall not, and shall not permit any of the Restricted Subsidiaries to, directly or indirectly: 

  
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 (i) declare or pay any dividend or make any other payment or any distribution on
account of the Company’s, or any of its Restricted Subsidiaries’ Equity Interests (in each case, solely in such Person’s capacity as holder of such Equity Interests), including any dividend or distribution payable in connection with
any merger or consolidation other than (A) dividends or distributions by the Company payable solely in Equity Interests (other than Disqualified Stock) of the Company; or (B) dividends or distributions by a Restricted Subsidiary so long
as, in the case of any dividend or distribution payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly-Owned Subsidiary, the Company or a Restricted Subsidiary receives at least its pro
rata share of such dividend or distribution in accordance with its Equity Interests in such class or series of securities; 

(ii) purchase, redeem, defease or otherwise acquire or retire for value any Equity Interests of the Company or any direct or
indirect parent of the Company, including in connection with any merger or consolidation, in each case held by Persons other than the Company or a Restricted Subsidiary; 

(iii) make any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each case
prior to any scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness of the Company or a Guarantor, other than (A) Indebtedness permitted under clauses (vii) and (viii) of Section 4.03(b); or (B) the
payment, redemption, repurchase, defeasance, acquisition or retirement for value of Subordinated Indebtedness purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one
year of the date of such payment, redemption, repurchase, defeasance, acquisition or retirement; or 
 (iv) make any
Restricted Investment; (all such payments and other actions set forth in clauses (i) through (iv) above being collectively referred to as “Restricted Payments”), unless, at the time of such Restricted Payment: 

(1) no Default shall have occurred and be continuing or would occur as a consequence thereof; 

(2) immediately after giving effect to such transaction on a pro forma basis, the Company could incur $1.00 of
additional Indebtedness under Section 4.03(a); and 
 (3) such Restricted Payment, together with the aggregate amount of all
other Restricted Payments made by the Company and its Restricted Subsidiaries after the Effective Date (including Restricted Payments permitted by clauses (i), (vi)(c), (ix) and (xiv) of Section 4.04(b) but excluding all other Restricted
Payments permitted by Section 4.04(b) hereof), is less than the sum of (without duplication): 

  
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 (A) 50% of the Consolidated Net Income of the Company for the period (taken as
one accounting period) beginning on the first day of the first fiscal quarter of the Company commencing after the Effective Date occurs to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are
available at the time of such Restricted Payment, or, in the case such Consolidated Net Income for such period is a deficit, minus 100% of such deficit; plus 

(B) 100% of the aggregate net cash proceeds and the fair market value, as determined in good faith by the Company, of
marketable securities or other property received by the Company since the Effective Date (other than net cash proceeds to the extent such net cash proceeds have been used to incur Indebtedness, Disqualified Stock or Preferred Stock pursuant to
Section 4.03(b)(xii)(a) from the issue or sale of: (i) (A) Equity Interests of the Company, including Treasury Capital Stock (as defined below), but excluding cash proceeds and the fair market value, as determined in good faith by the Company,
of marketable securities or other property received from the sale of: (x) Equity Interests to any future, present or former employee, officer, director, member of management or consultant (or the estate, heirs, family members, spouse, former
spouse, domestic partner or former domestic partner of any of the foregoing) of the Company, any direct or indirect parent company of the Company and the Company’s Subsidiaries since the Effective Date to the extent such amounts have been
applied to Restricted Payments made in accordance with clause (iv) of Section 4.04(b) hereof; and (y) Designated Preferred Stock; and (B) to the extent such net cash proceeds or other property are actually contributed to the Company,
Equity Interests of the Company’s direct or indirect parent companies (excluding contributions of the proceeds from the sale of Designated Preferred Stock of such companies or contributions to the extent such amounts have been applied to
Restricted Payments made in accordance with clause (iv) of Section 4.04(b) hereof); or (ii) debt of the Company or any Restricted Subsidiary that has been converted into or exchanged for Equity Interests of the Company or its direct or
indirect parent companies; provided, however, that this clause (B) shall not include the proceeds from (W) Refunding Capital Stock (as defined below), (X) Equity Interests or convertible debt securities of the Company sold to
a Restricted Subsidiary, (Y) Disqualified Stock or debt securities that have been converted into Disqualified Stock or (Z) Excluded Contributions; plus 

(C) 100% of the aggregate amount of cash and the fair market value, as determined in good faith by the Company, of marketable
securities or other property contributed to the capital of the Company following the Effective Date other than (X) net cash proceeds to the extent such net cash proceeds have been used to incur Indebtedness or issue Disqualified Stock or
Preferred Stock pursuant to Section 4.03(b)(xii)(a), (Y) by a Restricted Subsidiary and (Z) from any Excluded Contributions; plus 

(D) 100% of the aggregate amount received in cash and the fair market value, as determined in good faith by the Company, of
marketable securities or other property received by means of: 

  
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 (I) the sale or other disposition (other than to the Company or a Restricted
Subsidiary) of Restricted Investments made by the Company or its Restricted Subsidiaries, repurchases and redemptions of such Restricted Investments from the Company or its Restricted Subsidiaries, repayments of loans or advances, releases of
guarantees, which constitute Restricted Investments by the Company or its Restricted Subsidiaries, return of capital, income, profits and other amounts realized as a return or Investment from any Restricted Investment by the Company or its
Restricted Subsidiaries, in each case since the Effective Date (other than in each case to the extent the Restricted Investment was made pursuant to clause (vii) of Section 4.04(b)); or 

(II) the sale or other distribution (other than to the Company or a Restricted Subsidiary) of the stock of an Unrestricted
Subsidiary or a distribution from an Unrestricted Subsidiary (other than in each case to the extent the Investment in such Unrestricted Subsidiary was made by the Company or a Restricted Subsidiary pursuant to clause (vii) of Section 4.04(b)
hereof or to the extent such Investment constituted a Permitted Investment) or a dividend or distribution from an Unrestricted Subsidiary since the Effective Date; plus 

(E) in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary or the merger, amalgamation or
consolidation of an Unrestricted Subsidiary into the Company or a Restricted Subsidiary or the transfer of all or substantially all of the assets of an Unrestricted Subsidiary to the Company or a Restricted Subsidiary after the Effective Date, the
fair market value of the Investment of the Company or the Restricted Subsidiary in such Unrestricted Subsidiary (or the assets transferred), as determined by the Company in good faith or, if such fair market value may exceed $20.0 million, by
the board of directors (or similar governing body) of the Company, a copy of the resolution of which with respect thereto will be delivered to the Trustee at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary or
at the time of such merger, amalgamation, consolidation or transfer of assets other than to the extent the Investment in such Unrestricted Subsidiary was made by the Company or a Restricted Subsidiary pursuant to clause (vii) of Section 4.04(b)
hereof or to the extent such Investment constituted a Permitted Investment; plus 
 (F) $30.0 million. 

(b) Section 4.04(a) shall not prohibit: 

(i) the payment of any dividend or distribution or the consummation of any irrevocable redemption within 60 days after the date
of declaration of the dividend or other distribution or giving of the redemption notice, as the case may be, if at the date of declaration or distribution such dividend, distribution or redemption payment would have complied with the provisions of
this Indenture (assuming, in the case of a redemption payment, the giving of the notice would have been deemed a Restricted Payment at such time and such deemed Restricted Payment would have been permitted at such time); 

  
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 (ii) (A) the redemption, repurchase, retirement or other acquisition of any
Equity Interests (“Treasury Capital Stock”) or Subordinated Indebtedness of the Company, any direct or indirect parent of the Company or any Restricted Subsidiary in exchange for, or out of the proceeds of, the substantially
concurrent sale or issuance (other than to a Restricted Subsidiary) of, Equity Interests of the Company or any direct or indirect parent company of the Company to the extent any such proceeds are contributed to the Company (in each case, other than
any Disqualified Stock) (“Refunding Capital Stock”); 
 (B) the declaration and payment of dividends on
Treasury Capital Stock out of the proceeds of the substantially concurrent sale or issuance (other than to a Restricted Subsidiary) of any Refunding Capital Stock; and 

(C) if immediately prior to the retirement of Treasury Capital Stock, the declaration and payment of dividends thereon was
permitted under clause (vi) of this Section 4.04(b), the declaration and payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire
any Equity Interests of any direct or indirect parent company of the Issuers) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that were declarable and payable on such Treasury Capital Stock immediately
prior to such retirement; 
 (iii) the principal payment on, redemption, repurchase, defeasance, exchange or other
acquisition or retirement of (x) Subordinated Indebtedness of an Issuer or a Guarantor made by exchange for, or out of the proceeds of, the substantially concurrent sale of, new Indebtedness of an Issuer or a Guarantor, as the case may be, or
(y) Disqualified Stock of the Company or a Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, Disqualified Stock of the Company or a Guarantor, that, in each case, is incurred in compliance with
Section 4.03 so long as: 
 (A) the principal amount (or accreted value, if applicable) of such new Indebtedness or the
liquidation preference of such new Disqualified Stock does not exceed the principal amount of (or accreted value, if applicable), plus any accrued and unpaid interest on, the Subordinated Indebtedness or the liquidation preference of,
plus any accrued and unpaid dividends on, the Disqualified Stock being so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired for value, plus the amount of any premium required to be paid under the terms of the
instrument governing the Subordinated Indebtedness or Disqualified Stock being so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired, any tender premiums, plus any defeasance costs, accrued interest and any fees and expenses
(including original issue discount, upfront or similar fees) incurred in connection therewith; 

  
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 (B) such new Indebtedness is subordinated to the Securities or the applicable
Guarantee at least to the same extent as such Subordinated Indebtedness so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired for value; 

(C) such new Indebtedness or Disqualified Stock has a final scheduled maturity date equal to or later than the final scheduled
maturity date of the Subordinated Indebtedness or Disqualified Stock being so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired; and 

(D) such new Indebtedness or Disqualified Stock has a Weighted Average Life to Maturity at the time incurred equal to or
greater than the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness or Disqualified Stock being so repaid, repurchased, redeemed, defeased, exchanged, acquired or retired; 

(iv) a Restricted Payment to pay for the repurchase, redemption, retirement or other acquisition or retirement for value of
Equity Interests (other than Disqualified Stock) of the Company or any of its direct or indirect parent companies held by any future, present or former employee, officer, director, member of management, manager or consultant (or the estate, heirs,
family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the Company, any of its Subsidiaries or any of its direct or indirect parent companies, pursuant to any management equity plan or stock
option plan or any other management or employee benefit plan or other agreement or arrangement including any Equity Interests rolled over by current or former management of the Company, any of its Subsidiaries or any of its direct or indirect parent
companies in connection with the Transactions (and including, for the avoidance of doubt, any principal and interest payable on any notes issued by the Company or any direct or indirect parent company in connection with any such repurchase,
retirement or other acquisition and any tax related thereto); provided, however, that the aggregate Restricted Payments made under this clause (iv) do not exceed $10.0 million in any calendar year (which shall increase to
$20.0 million subsequent to the consummation of an underwritten public Equity Offering by the Company or any direct or indirect parent company of the Company) with unused amounts in any calendar year being carried over to succeeding calendar
years subject to a maximum (without giving effect to the following proviso) of $20.0 million in any calendar year; provided further that such amount in any calendar year may be increased by an amount not to exceed: 

(A) the cash proceeds from the sale of Equity Interests (other than Disqualified Stock) of the Company and, to the extent
contributed to the Company, Equity Interests of any of the Company’s direct or indirect parent companies, in each case to any future, present or former employee, officer, director, member of management, manager or consultant (or the estate,
heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the Company, any of its Subsidiaries or any of its direct or indirect parent companies after the Effective Date, to the extent the

  
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cash proceeds from the sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of clause (3) of Section 4.04(a) hereof; plus, in
respect of any sale of Equity Interests in connection with an exercise of stock options, an amount equal to the amount required to be withheld by the Company or any of its direct or indirect parent companies in connection with such exercise under
applicable law to the extent such amount is repaid to the Company or its direct or indirect parent company, as applicable, constituted a Restricted Payment and has not otherwise been applied to the payment of Restricted Payments by virtue of clause
(3) of Section 4.04(a) hereof; plus 
 (B) the cash proceeds of key man life insurance policies received by the
Company or its Restricted Subsidiaries or any of its direct or indirect parent companies after the Effective Date; plus 

(C) the amount of any cash bonuses otherwise payable to employees, officers, directors, members of management, managers or
consultants of the Company, any of its Subsidiaries or any of its direct or indirect companies that are foregone in return for receipt of Equity Interests; less 

(D) the amount of any Restricted Payments previously made with the cash proceeds described in clauses (A), (B) and (C) of
this clause (iv); 
 and provided further that cancellation of Indebtedness owing to the Company or any of its Restricted Subsidiaries
from any future, present or former employee, officer, director, member of management, manager or consultant (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the
Company, any of the Company’s direct or indirect parent companies or any of the Company’s Restricted Subsidiaries in connection with a repurchase of Equity Interests of the Company or any of its direct or indirect parent companies will not
be deemed to constitute a Restricted Payment for purposes of this Section 4.04 or any other provision of this Indenture; 

(v) the declaration and payment of dividends or distributions to holders of any class or series of Disqualified Stock of the
Company or any of its Restricted Subsidiaries or any class or series of Preferred Stock of any Restricted Subsidiary issued or incurred in accordance with Section 4.03 hereof to the extent such dividends are included in the definition of
“Fixed Charges”; 
 (vi) (a) the declaration and payment of dividends to holders of any class or series of
Designated Preferred Stock (other than Disqualified Stock) issued by the Company or any of its Restricted Subsidiaries after the Effective Date; (b) the declaration and payment of dividends or distributions to a direct or indirect parent
company of the Company, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) of such parent company issued after the Effective Date,
provided that the amount of dividends paid pursuant to this clause (b) shall not exceed the aggregate amount of cash 

  
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actually contributed to the Company from the sale of such Designated Preferred Stock; or (c) the declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in
excess of the dividends declarable and payable thereon pursuant to clause (ii) of this Section 4.04(b); provided, however, in the case of each of (a), (b) and (c) of this clause (vi), that for the most recently ended four
full fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock or the declaration of such dividends on Refunding Capital Stock that is Preferred Stock, after
giving effect to such issuance or declaration on a pro forma basis, the Company and its Restricted Subsidiaries on a consolidated basis would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00; 

(vii) Investments in Unrestricted Subsidiaries having an aggregate fair market value, taken together with all other Investments
made pursuant to this clause (vii) that are at the time outstanding, without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of, or have not been subsequently sold or transferred
for, cash or marketable securities, not to exceed the sum of (a) $20.0 million (with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value) and (b) any returns
(including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) actually received in respect of any such Investment; provided, however, that if any Investment pursuant to
this clause (vii) is made in any Person that is not an Issuer or a Restricted Subsidiary at the date of the making of such Investment and such Person becomes an Issuer or a Restricted Subsidiary after such date, such Investment shall thereafter
be deemed to have been made pursuant to clause (1) of the definition of “Permitted Investments” and shall cease to have been made pursuant to this clause (vii) for so long as such Person continues to be an Issuer or a
Restricted Subsidiary; 
 (viii) redemptions, repurchases, retirements or other acquisitions of Equity Interests deemed to
occur (a) upon exercise of stock options or warrants or other securities convertible into or exchangeable for Equity Interests if such Equity Interests represent all or a portion of the exercise price of such options or warrants or other
securities convertible into or exchangeable for Equity Interests and (b) in connection with the withholding portion of the Equity Interests granted or awarded to any future, present or former employee, officer, director, member of management,
manager or consultant (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the Company or any of its Subsidiaries to pay for the taxes payable by such Persons upon such
grant or award; 
 (ix) declaration and payment of dividends on the Company’s common stock (or the payment of dividends
to any direct or indirect parent entity to fund a payment of dividends on such entity’s common stock), following the first public offering of the Company’s common stock or the common stock of any of its direct or indirect parent companies
after the Effective Date, of up to 6% per annum of the net cash proceeds received by or contributed to the Company in or from any public offering, other than public offerings with respect to the Company’s common stock registered on Form S-8 and other than any public sale constituting an Excluded Contribution; 

  
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 (x) Restricted Payments in an amount that does not exceed the amount of Excluded
Contributions made since the Effective Date; 
 (xi) other Restricted Payments in an aggregate amount taken together with all
other Restricted Payments made pursuant to this clause (xi) that are at the time outstanding not to exceed the greater of (x) $40.0 million and (y) 4.0% of Consolidated Total Assets; 

(xii) distributions or payments of Receivables Fees; 

(xiii) any Restricted Payment used to fund the Transactions (including, after the Effective Date, to satisfy any payment
obligations owing under the Transaction Agreement) and the fees and expenses related thereto, including, for the avoidance of doubt, the payment or reimbursement of fees and expenses relating to the Escrow Letter of Credit, or owed to Affiliates
(including dividends to any direct or indirect parent company to permit payment by such parent of such amount), in each case with respect to any Restricted Payment to or owed to an Affiliate, to the extent permitted by Section 4.07; 

(xiv) the repurchase, redemption or other acquisition or retirement for value of any Subordinated Indebtedness pursuant to
provisions similar to those described under Sections 4.06 and 4.08; provided that all Securities tendered by Holders in connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been repurchased, redeemed or acquired
for value; 
 (xv) the declaration and payment of dividends or distributions by the Company or a Restricted Subsidiary to, or
the making of loans or advances to, any of their respective direct or indirect parent companies in amounts required for any direct or indirect parent companies to pay, in each case without duplication, 

(A) franchise and similar taxes and other fees and expenses required to maintain the corporate existence of or the
qualification to do business of the Company, its Subsidiaries or any direct or indirect parent thereof; 
 (B) customary
wages, salary, bonus, severance and other benefits payable to, and indemnitees provided on behalf of current or former officers, directors, employees, members of management, consultants and/or independent contractors of any direct or indirect parent
company of the Company and any payroll, social security or similar taxes thereof to the extent such wages, salaries, bonuses, severance, indemnification, obligations and other benefits are attributable to the ownership or operation of the Company
and its Restricted Subsidiaries; 
 (C) interest and/or principal on Indebtedness the proceeds of which have been contributed
to the Company or any Restricted Subsidiary and that has been guaranteed by, or is otherwise, considered Indebtedness of, the Company incurred in accordance with Section 4.03; 

  
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 (D) general corporate operating, legal and overhead costs and expenses of any
direct or indirect parent company of the Company to the extent such costs and expenses are attributable to the ownership or operation of the Company and its Restricted Subsidiaries; 

(E) audit and other accounting and reporting expenses at such direct or indirect parent company to the extent relating to the
ownership or operations of the Company and/or its Restricted Subsidiaries; 
 (F) (i) fees and expenses other than to
Affiliates of the Company related to any equity or debt offering of such parent company (whether or not successful) and (ii) Public Company Costs; 

(G) (i) cash payments in lieu of issuing fractional shares in connection with the exercise of warrants, options or other
securities convertible into or exchangeable for Equity Interests of the Company or any direct or indirect parent and (ii) consisting of payments made or expected to be made in respect of withholding or similar Taxes payable by any future,
present or former officers, directors, employees, members of management, managers or consultants of the Company, any Restricted Subsidiary or any direct or indirect parent company or any of their respective immediate family members; 

(H) payments permitted under clause (iii), (iv), (vii), (x) or (xix) of Section 4.07(b); and 

(I) payments to finance any Investment permitted to be made pursuant to this Section 4.04; provided that
(i) such Restricted Payment shall be made substantially concurrently with the closing of such Investment, (ii) such parent shall, promptly following the closing thereof, cause (A) all property acquired (whether assets or Equity
Interests) to be contributed to the Company or a Restricted Subsidiary or (B) the merger, consolidation or amalgamation (to the extent permitted pursuant to Section 5.01) of the Person formed or acquired into the Company or a Restricted
Subsidiary in order to consummate such acquisition or Investment in a manner that causes such Investment to be a Permitted Investment, (iii) such direct or indirect parent company and its Affiliates (other than the Company or a Restricted
Subsidiary) receives no consideration or other payment in connection with such transaction except to the extent the Company or a Restricted Subsidiary could have given such consideration or made such payment in compliance with this Indenture,
(iv) any property received by the Company shall not increase amounts available for Restricted Payments pursuant to clause (3) of Section 4.04(a) hereof and (v) such Investment shall be deemed to be made by the Company or such
Restricted Subsidiary pursuant to another provision of this Section 4.04 (other than pursuant to clause (x) of this Section 4.04(b)) or pursuant to the definition of “Permitted Investments”; 

  
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 (xvi) the distribution, by dividend or otherwise, or other transfer or
disposition of shares of Capital Stock of, or Indebtedness owed to the Company or a Restricted Subsidiary by, Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are Cash Equivalents) or the proceeds thereof;

 (xvii) cash payments in lieu of the issuance of fractional shares in connection with the exercise of warrants, options or
other securities convertible into or exchangeable for Capital Stock of the Company, any of its Restricted Subsidiaries or any direct or indirect parent company of the Company; 

(xviii) any Restricted Payment if immediately after giving pro forma effect thereto and the incurrence of any
Indebtedness the net proceeds of which are used to finance such Restricted Payment, the Consolidated Total Leverage Ratio of the Company and its Restricted Subsidiaries would not have exceeded 4.75:1.00; and 

(xix) payments or distributions to dissenting stockholders pursuant to applicable law, pursuant to or in connection with a
consolidation, merger or transfer of all or substantially all of the assets of the Company and its Restricted Subsidiaries, taken as a whole, that complies with Section 5.01; 

provided, however, that at the time of, and after giving effect to, any Restricted Payment permitted under clauses (xi), (xvi) and
(xviii) of Section 4.04(b) hereof, no Default shall have occurred and be continuing or would occur as a consequence thereof. In determining whether any Restricted Payment is permitted by this Section 4.04, the Company and its Restricted
Subsidiaries may allocate all or any portion of such Restricted Payment among the categories described in clauses (i) through (xix) of Section 4.04(b) or among such categories and the types of Restricted Payments described in Section 4.04(a)
(including categorization in whole or in part as a Permitted Investment); provided that, at the time of such allocation, all such Restricted Payments, or allocated portions thereof, would be permitted under the various provisions of this
Section 4.04 and provided, further that the Company and its Restricted Subsidiaries may reclassify all or a portion of such Restricted Payment or Permitted Investment in any manner that complies with this Section 4.04 (based
on circumstances existing at the time of such reclassification), and following such reclassification such Restricted Payment or Permitted Investment shall be treated as having been made pursuant to only the clause or clauses of this
Section 4.04 to which such Restricted Payment or Permitted Investment has been reclassified. The Company shall not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the second to last sentence of the
definition of “Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Company and its Restricted Subsidiaries (except to the extent
repaid) in the Subsidiary so designated shall be deemed to be Investments in an amount determined as set forth in the last sentence of the definition of “Investments.” Such designation shall only be permitted if a Restricted
Payment or Permitted Investment in such amount would be permitted at such time, whether pursuant to Section 4.04(a) or clause (vii), (x), (xi) or (xviii) of Section 4.04(b) or pursuant to the definition of “Permitted Investment” and
if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries shall not be subject to any of the restrictive covenants set forth in this Indenture. 

  
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 SECTION 4.05 Dividend and Other Payment Restrictions Affecting Restricted
Subsidiaries. The Company shall not, and shall not permit any of its Restricted Subsidiaries, directly or indirectly, to create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the
ability of any such Restricted Subsidiary to: 
 (a) (i) pay dividends or make any other distributions to the Company or any of its
Restricted Subsidiaries on its Capital Stock or with respect to any other interest or participation in, or measured by, its profits; or (ii) pay any Indebtedness owed to the Company or any of its Restricted Subsidiaries; 

(b) make loans or advances to the Company or any Guarantor; or 

(c) sell, lease or transfer any of its properties or assets to the Company or any Guarantor, except, in each case, for such encumbrances or
restrictions existing under or by reason of: 
 (1) contractual encumbrances or restrictions in effect on the Effective Date,
including pursuant to the Senior Credit Facilities and the related documentation; 
 (2) this Indenture, the Securities and
the related Guarantees; 
 (3) purchase money obligations for property acquired and Capitalized Lease Obligations in the
ordinary course of business that impose restrictions of the nature discussed in clause (c) above on the property or assets so acquired; 

(4) applicable law or any applicable rule, regulation or order or the terms of any license, authorization, concession or permit
provided by any Governmental Authority; 
 (5) any agreement or other instrument of a Person acquired (or assumed in
connection with the acquisition of property) by the Company or any of its Restricted Subsidiaries in existence at the time of such acquisition (but not created in contemplation thereof), which encumbrance or restriction is not applicable to any
Person, or the properties or assets of any Person, other than the Person so acquired and its Subsidiaries, or the property or assets of the Person so acquired and its Subsidiaries; 

(6) contracts or agreements for the sale of assets, including any restrictions with respect to a Subsidiary of the Company
pursuant to an agreement that has been entered into for the sale or disposition of all or substantially all of the Capital Stock or assets of such Subsidiary; 

(7) Secured Indebtedness otherwise permitted to be incurred pursuant to Sections 4.03 and 4.12 that apply solely to the assets
securing such Indebtedness and/or the Restricted Subsidiaries incurring or guaranteeing such Indebtedness; 

  
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 (8) restrictions on cash or other deposits or net worth imposed by customers
under contracts entered into in the ordinary course of business; 
 (9) other Indebtedness, Disqualified Stock or Preferred
Stock of non-Guarantor Subsidiaries of the Company permitted to be incurred or issued subsequent to the Effective Date pursuant to the provisions of Section 4.03; 

(10) customary provisions in any partnership agreement, limited liability company organizational governance document, joint
venture agreement and other similar agreement entered into in the ordinary course of business; 
 (11) customary provisions
contained in leases, subleases, licenses or sublicenses, Equity Interests or asset sale agreements and other similar agreements, in each case, entered into in the ordinary course of business; 

(12) any other agreement governing Indebtedness entered into after the Effective Date if (a) such encumbrances and other
restrictions are, in the good faith judgment of the Company, no more restrictive in any material respect taken as a whole with respect to the Company or any Restricted Subsidiary than (i) the restrictions contained in this Indenture as of the
Effective Date or (ii) those encumbrances and other restrictions that are in effect on the Effective Date with respect to that Restricted Subsidiary or the Company, as applicable pursuant to agreements in effect on the Effective Date, or
(b) any such encumbrance or restriction contained in such Indebtedness does not prohibit (except upon a default or an event of default thereunder) the payment of dividends in an amount sufficient, as determined by the board of directors (or
similar governing body) of the Company in good faith, to make scheduled payments of cash interest on the Securities when due; 

(13) customary provisions restricting assignment of any agreement entered into in the ordinary course of business; 

(14) other Indebtedness, Disqualified Stock or Preferred Stock of any Restricted Subsidiary that is a Guarantor, provided
that such Indebtedness, Disqualified Stock or Preferred Stock is permitted to be incurred subsequent to the Effective Date under Section 4.03 and either (A) the provisions relating to such encumbrance or restriction contained in such
Indebtedness are no less favorable to the Company, taken as a whole, as determined by the Company in good faith, than the provisions contained in the Senior Credit Facilities as in effect on the Effective Date or (B) any such encumbrance or
restriction contained in such Indebtedness does not prohibit (except upon a default or an event of default thereunder) the payment of dividends in an amount sufficient, as determined by the Company in good faith, to make scheduled payments of cash
interest on the Securities when due; 

  
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 (15) customary restrictions and conditions contained in any agreement relating to
the sale, transfer, lease or other disposition of any asset permitted under Section 4.06 pending the consummation of such sale, transfer, lease or other disposition; 

(16) customary restrictions and conditions contained in the document relating to any Lien so long as (i) such Lien is a
Permitted Lien and such restrictions or conditions relate only to the specific asset subject to such Lien and (ii) such restrictions and conditions are not created for the purpose of avoiding the restrictions imposed by this Section 4.05;

 (17) restrictions created in connection with any Receivables Facility that in the good faith determination of the Company
are necessary or advisable to effect such Receivables Facility; 
 (18) customary net worth or similar provisions contained
in real property leases entered into by the Company or any Subsidiary so long as the Company or such Subsidiary has determined in good faith that such net worth or similar provisions could not reasonably be expected to impair the ability of the
Company or such Subsidiary to meet its ongoing obligations; and 
 (19) any encumbrances or restrictions of the type referred
to in Sections 4.05(a), (b) and (c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses
(1) through (18) above; provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Company, no more restrictive in any
material respect with respect to such encumbrances and other restrictions taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

For purposes of determining compliance with this Section 4.05, (1) the priority of any Preferred Stock in receiving dividends or
liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (2) the subordination of loans or advances made to
the Company or a Restricted Subsidiary to other Indebtedness incurred by the Company or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. 

SECTION 4.06 Asset Sales. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, consummate an Asset Sale, unless: 

(i) the Company or such Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at
least equal to the fair market value as determined in good faith by the Company (such fair market value to be determined on the date of contractually agreeing to such Asset Sale) of the assets sold or otherwise disposed of; and 

  
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 (ii) except in the case of a Permitted Asset Swap, at least 75% of the
consideration therefor received by the Company or such Restricted Subsidiary, as the case may be, is in the form of Cash Equivalents; provided that the amount of: 

(a) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet or in the
footnotes thereto, or if incurred or accrued subsequent to the date of such balance sheet, such liabilities that would have been reflected on the Company’s or such Restricted Subsidiary’s balance sheet or in the footnotes thereto if such
incurrence or accrual had taken place on or prior to the date of such balance sheet, as determined in good faith by the Company) of the Company or such Restricted Subsidiary, other than liabilities that are by their terms subordinated to the
Securities or the Guarantees, that are assumed by the transferee of any such assets or that are otherwise cancelled or terminated in connection with the transaction with such transferee and for which the Company and all of its Restricted
Subsidiaries have been validly released by all creditors in writing, 
 (b) any securities, notes or other obligations or
assets received by the Company or such Restricted Subsidiary from such transferee that are converted by the Company or such Restricted Subsidiary into Cash Equivalents, or by their terms are required to be satisfied for Cash Equivalents (to the
extent of the Cash Equivalents received) within 180 days following the closing of such Asset Sale, and 
 (c) any Designated Non-cash Consideration received by the Company or such Restricted Subsidiary in such Asset Sale having an aggregate fair market value, taken together with all other Designated
Non-cash Consideration received pursuant to this clause (c) that is at that time outstanding, not to exceed the greater of (x) $30.0 million and (y) 3.0% of Consolidated Total Assets at the time of
the receipt of such Designated Non-cash Consideration, with the fair market value of each item of Designated Non-cash Consideration being measured at the time received
and without giving effect to subsequent changes in value, 
 shall be deemed to be Cash Equivalents for purposes of this Section 4.06(a) and for no other
purpose. 
 (b) Within 365 days after the receipt of any Net Proceeds of any Asset Sale, the Company or such Restricted Subsidiary, at its
option, may apply the Net Proceeds from such Asset Sale, 
 (i) to repay (a) Obligations under the Senior Credit
Facilities and if the Indebtedness repaid is revolving credit indebtedness, to correspondingly reduce commitments with respect thereto; (b) Obligations under Indebtedness (other than Subordinated Indebtedness) that is secured by a Lien, which
Lien is permitted by this Indenture, and if the Indebtedness repaid is revolving credit indebtedness, to correspondingly reduce commitments with respect thereto; (c) Obligations under other Indebtedness (other than Subordinated Indebtedness)
(and if the Indebtedness repaid is 

  
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revolving credit indebtedness, to correspondingly reduce commitments with respect thereto), provided that the Issuers shall equally and ratably reduce Obligations under the Securities as
provided under paragraph 5 of the Security through open-market purchases (to the extent such purchases are at or above 100% of the principal amount thereof) or by making an offer (in accordance with the procedures set forth below for an Asset Sale
Offer) to all Holders to purchase their Securities at 100% of the principal amount thereof, plus the amount of accrued but unpaid interest, if any, on the amount of Securities that would otherwise be prepaid; or (d) Indebtedness of a Restricted
Subsidiary that is not a Guarantor, other than Indebtedness owed to an Issuer or another Restricted Subsidiary; 
 (ii) to
make (a) an Investment in any one or more businesses, provided that such Investment in any business is in the form of the acquisition of Capital Stock and results in the Company or any of its Restricted Subsidiaries, as the case may be,
owning an amount of the Capital Stock of such business such that it constitutes a Restricted Subsidiary, (b) capital expenditures or (c) acquisitions of other properties or assets, in the case of each of (a), (b) and (c), used or useful in
a Similar Business; or 
 (iii) to make an Investment in (a) any one or more businesses, provided that such
Investment in any business is in the form of the acquisition of Capital Stock and results in the Company or any of its Restricted Subsidiaries, as the case may be, owning an amount of the Capital Stock of such business such that it constitutes a
Restricted Subsidiary, (b) properties or (c) other assets that, in the case of each of (a), (b) and (c), replace the businesses, properties and/or other assets that are the subject of such Asset Sale; 

provided that, in the case of clauses (ii) and (iii) above, a binding commitment shall be treated as a permitted application of the Net Proceeds
from the date of such commitment so long as the Company or such other Restricted Subsidiary enters into such commitment with the good faith expectation that such Net Proceeds will be applied to satisfy such commitment within 180 days of such
commitment (an “Acceptable Commitment”) and, in the event any Acceptable Commitment is later cancelled or terminated for any reason before the Net Proceeds are applied in connection therewith, the Company or such Restricted
Subsidiary enters into another Acceptable Commitment (a “Second Commitment”) within 180 days of such cancellation or termination (or, if later, 365 days after the receipt of such Net Proceeds); provided further that if any
Second Commitment is later cancelled or terminated for any reason before such Net Proceeds are applied, then such Net Proceeds shall constitute Excess Proceeds (as defined below). 

Any Net Proceeds from any Asset Sale that are not invested or applied as provided and within the time period set forth in this Section 4.06(b)
(it being understood that any portion of such Net Proceeds used to make an offer to purchase Securities, as described in clause (i) of this Section 4.06(b), shall be deemed to have been invested whether or not such offer is accepted) will be
deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $25.0 million, the Issuers shall make an offer to all Holders and, at the option of the Issuers, to any holders of any
Indebtedness that is pari passu with the Securities (“Pari Passu Indebtedness”) (an “Asset Sale Offer”), to purchase the maximum aggregate principal amount of the Securities and such Pari Passu Indebtedness that is
at least $2,000 and an integral 

  
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multiple of $1,000 in excess thereof that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof, or 100% of the accreted
value thereof, if less, plus accrued and unpaid interest, if any, (or, in respect of such Pari Passu Indebtedness, such lesser price, if any, as may be provided for by the terms of such Pari Passu Indebtedness) to, but not including, the date fixed
for the closing of such offer, in accordance with the procedures set forth in this Indenture. The Issuers will commence an Asset Sale Offer with respect to Excess Proceeds within thirty Business Days after the date that Excess Proceeds exceed
$25.0 million by sending the notice required pursuant to the terms of this Indenture, with a copy to the Trustee, or otherwise in accordance with the procedures of DTC. 

To the extent that the aggregate amount of Securities and such Pari Passu Indebtedness tendered pursuant to an Asset Sale Offer is less than
the Excess Proceeds, the Company may use any remaining Excess Proceeds for general corporate purposes, subject to compliance with other covenants contained in this Indenture. If the aggregate principal amount of Securities and the Pari Passu
Indebtedness surrendered in an Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee shall select the Securities to be purchased in the manner described in Section 3.04. Selection of such Pari Passu Indebtedness will be made
pursuant to the terms of such Pari Passu Indebtedness. Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds shall be reset to zero (regardless of whether there are any remaining Excess Proceeds upon such completion). 

Pending the final application of any Net Proceeds pursuant to this Section 4.06, the holder of such Net Proceeds may apply such Net
Proceeds temporarily to reduce Indebtedness outstanding under a revolving credit facility or otherwise invest such Net Proceeds in any manner not prohibited by this Indenture. 

The Issuers shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of the Securities pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or
regulations conflict with the provisions of this Indenture, the Issuers shall comply with the applicable securities laws and regulations and shall not be deemed to have breached their obligations described in this Indenture by virtue thereof. 

SECTION 4.07 Transactions with Affiliates. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or
otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any
Affiliate of the Company (each of the foregoing, an “Affiliate Transaction”) involving aggregate payments or consideration in excess of $10.0 million, unless: 

(i) such Affiliate Transaction is on terms that are not materially less favorable to the Company or its relevant Restricted
Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person on an arm’s-length basis; and 

  
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 (ii) the Company delivers to the Trustee with respect to any Affiliate
Transaction or series of related Affiliate Transactions involving aggregate payments or consideration in excess of $25.0 million, a resolution adopted by the majority of the board of directors (or similar governing body) of the Company
approving such Affiliate Transaction and set forth in an Officer’s Certificate of the Company certifying that such Affiliate Transaction complies with clause (i) above. 

(b) Section 4.07(a) shall not apply to the following: 

(i) transactions between or among the Company or any of its Restricted Subsidiaries, or an entity that becomes a Restricted
Subsidiary as a result of such transaction, and any merger, consolidation or amalgamation of the Company and any direct or indirect parent of the Company; provided that such parent shall have no material liabilities and no material assets
other than cash, Cash Equivalents and Capital Stock of the Company (or a parent company thereof) and such merger, consolidation or amalgamation is otherwise in compliance with the terms of this Indenture and effected for a bona fide business
purpose; 
 (ii) Restricted Payments permitted by Section 4.04 and Investments constituting Permitted Investments; 

(iii) (A) the payment of management, consulting, monitoring, transaction, oversight, advisory, termination and similar
fees and related indemnities and expenses pursuant to the Sponsor Management Agreement as in effect on the Effective Date, and any transaction, agreement or arrangement described in the Offering Circular and, in each case, any amendment thereto or
replacement thereof so long as any such amendment or replacement is not disadvantageous in any material respect, in the good faith judgment of the Company, to the Holders of the Securities when taken as a whole as compared to the Sponsor Management
Agreement in effect on the Effective Date (it being understood that any amendment thereto or replacement thereof to increase any fees or other compensation payable or implement new fees or compensation payable pursuant to such Sponsor Management
Agreement would be deemed to be materially disadvantageous to the Holders) and (B) the payment of all indemnities and expenses owed to any Investors and each of their respective directors, officers, members of management, managers, employees
and consultants, in each case of clauses (A) and (B) whether currently due or paid in respect of accruals from prior periods; 

(iv) the payment of customary fees, reasonable
out-of-pocket costs to and reimbursement of expenses and compensation paid to, and indemnities provided on behalf of or for the benefit of, future, present or former
employees, officers, members of the board of directors (or similar governing body), members of management, managers, consultants or independent contractors (or the estate, heirs, family members, spouse, former spouse, domestic partner or former
domestic partner of any of the foregoing) of the Company, any of its direct or indirect parent companies or any of its subsidiaries; 

  
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 (v) transactions in which the Company or any of its Restricted Subsidiaries, as
the case may be, delivers to the Trustee a letter from an Independent Financial Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or stating that the terms are not materially
less favorable to the Company or its relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person on an
arm’s-length basis; 
 (vi) any agreement as in effect as of the Effective Date,
or any amendment, modification or extension thereof (so long as any such amendment is not disadvantageous in any material respect to the Holders when taken as a whole as compared to the applicable agreement as in effect on the Effective Date as
determined in good faith by the Company) or any transaction contemplated thereby; 
 (vii) the existence of, or the
performance by the Company, any of its Restricted Subsidiaries or any direct or indirect parent of the Company of its obligations under the terms of, any stockholders or principal investors agreement (including any registration rights agreement or
purchase agreement related thereto) to which it is a party as of the Effective Date and any transaction, agreement or arrangement described in the Offering Circular and, in each case, any amendment thereto or similar transactions, agreements or
arrangements which it may enter into thereafter; provided, however, that the existence of, or the performance by the Company or any of its Restricted Subsidiaries of obligations under, any future amendment to any such existing
transaction, agreement or arrangement or any similar transaction, agreement or arrangement entered into after the Effective Date shall only be permitted by this clause (vii) to the extent that the terms of any such existing transaction,
agreement or arrangement together with all amendments thereto, taken as a whole, or new transaction, agreement or arrangement are not otherwise disadvantageous in any material respect to the Holders when taken as a whole as compared to the original
agreement in effect on the Effective Date as determined in good faith by the Company; 
 (viii) (A) transactions with
customers, clients, suppliers, joint ventures, contractors, or purchasers or sellers of goods or services or providers of employees or other labor, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the
ordinary course of business and otherwise in compliance with the terms of this Indenture which are fair to the Company and its Restricted Subsidiaries, in the good faith determination of the board of directors (or similar governing body) of the
Company or the senior management thereof, or are on terms at least as favorable as would reasonably have been obtained at such time from an unaffiliated party on an arm’s-length basis or
(B) transactions with joint ventures or Unrestricted Subsidiaries entered into in the ordinary course of business and consistent with past practice; 

(ix) the issuance of Equity Interests (other than Disqualified Stock or Preferred Stock) of the Company or a Restricted
Subsidiary to any person and the granting and performance of customary registration rights; 
 (x) payments by the Company or
any of its Restricted Subsidiaries made for any financial advisory, consulting, financing, underwriting or placement services or in respect of other investment banking activities and other transaction fees, including, without limitation, in
connection with acquisitions or divestitures which payments are approved by a majority of the board of directors (or similar governing body) of the Company in good faith or are otherwise permitted by this Indenture; 

  
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 (xi) (A) payments or loans (or cancellation of loans) or advances to
employees, officers, directors, members of management, consultants or independent contractors (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing) of the Company, any of
its direct or indirect parent companies or any of its Restricted Subsidiaries and collective bargaining agreements, employment agreements, severance arrangements, compensatory (including profit sharing) arrangements, stock option plans, benefit
plan, health, disability or similar insurance plan and other similar arrangements with such employees, officers, directors, managers, members of management, consultants or independent contractors (or the estate, heirs, family members, spouse, former
spouse, domestic partner or former domestic partner of any of the foregoing) and (B) any subscription agreement or similar agreement pertaining to the repurchase of Capital Stock pursuant to put/call rights or similar rights with future,
present or former employees, officers, directors, members of management, consultants or independent contractors and (C) any issuance, sale or grant of securities or other payments, awards or grants in cash, securities or otherwise pursuant to,
or the funding of employment arrangements, stock options and stock ownership plans approved by the board of directors (or similar governing body) of any direct or indirect parent company or of the Company or any Restricted Subsidiary; 

(xii) the Transactions and the payment of all fees and expenses related to the Transactions, including the Transaction
Expenses, payment or reimbursement of fees and expenses related to the Escrow Letter of Credit and payments made to satisfy any payment obligations under the Transaction Agreement after the Effective Date; 

(xiii) any transaction effected as part of a Receivables Facility; 

(xiv) any contribution to the capital of the Company or any Restricted Subsidiary; 

(xv) transactions permitted by, and complying with, the provisions of Section 5.01 solely for the purpose of
(A) reorganizing to facilitate any initial public offering of securities of the Company or any direct or indirect parent company of the Company, (B) forming a holding company, or (C) reincorporating the Company in a new jurisdiction;

 (xvi) between the Company or any Restricted Subsidiary and any Person, a director of which is also a director of the
Company or any direct or indirect parent of the Company; provided, however, that such director abstains from voting as a director of the Company or such direct or indirect parent, as the case may be, on any matter involving such other
Person; 
 (xvii) the issuance of securities or other payments, awards or grants in cash, securities or otherwise pursuant
to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the board of directors (or similar governing body) of the Company or any direct or indirect parent company of the
Company or a Subsidiary of the Company, as appropriate, in good faith; 

  
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 (xviii) transactions undertaken in good faith (as certified by a responsible
financial or accounting officer of the Company in an Officer’s Certificate) for the purposes of improving the consolidated tax efficiency of the Company and its Subsidiaries and not for the purpose of circumventing any covenant set forth in
this Indenture; 
 (xix) payments by the Company and its Restricted Subsidiaries pursuant to tax sharing, tax distribution or
similar arrangements among any direct or indirect parent of the Company and its Subsidiaries on customary terms; 
 (xx)
investments by the Investors in securities of the Company or any Restricted Subsidiary (and payment of reasonable out-of-pocket expenses incurred by such Investors in
connection therewith) so long as the investment is being generally offered to other investors on the same or more favorable terms; 

(xxi) any transaction with a Person (other than an Unrestricted Subsidiary) which would constitute an Affiliate Transaction
solely because the Company or a Restricted Subsidiary owns an Equity Interest in or otherwise controls such Person; 
 (xxii)
pledges of Equity Interests of Unrestricted Subsidiaries; 
 (xxiii) transactions with joint ventures for the purchase or
sale of goods, equipment and services entered into in the ordinary course of business; and 
 (xxiv) the payment of
reasonable out-of-pocket costs and expenses related to registration rights and customary indemnities provided to shareholders under any shareholder agreement. 

SECTION 4.08 Change of Control. 

(a) Upon the occurrence of a Change of Control after the Effective Date, unless the Issuers have previously or concurrently sent a redemption
notice with respect to all the outstanding Securities as described under paragraph 5 of the Security, the Issuers will make an offer to purchase all of the Securities pursuant to the offer described below (the “Change of Control
Offer”) at a price in cash (the “Change of Control Payment”) equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to, but not including, the date of purchase, subject to the
right of Holders of record of the Securities at the close of business on the relevant record date to receive interest due on the relevant interest payment date falling prior to or on the redemption date. 

  
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 (b) Within 30 days following any Change of Control occurring after the Effective Date, the
Issuers will send notice of such Change of Control Offer by first-class mail, with a copy to the Trustee, to each Holder of Securities to the registered address of such Holder or otherwise electronically in accordance with the procedures of DTC,
with the following information: 
 (i) that a Change of Control Offer is being made pursuant to this Section 4.08, and
that all Securities properly tendered pursuant to such Change of Control Offer will be accepted for payment by the Issuers at a repurchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest to, but not
including, the date of repurchase, subject to the right of Holders of record of the Securities at the close of business on the relevant record date to receive interest due on the relevant interest payment date falling prior to or on the purchase
date; 
 (ii) the purchase price and the purchase date, which shall be no earlier than 30 days nor later than 60 days from
the date such notice is mailed or otherwise delivered (the “Change of Control Payment Date”); 
 (iii) that
any Security not properly tendered will remain outstanding and continue to accrue interest; 
 (iv) that unless the Issuers
default in the payment of the Change of Control Payment, all Securities accepted for payment pursuant to the Change of Control Offer will cease to accrue interest on the Change of Control Payment Date; 

(v) if such notice is delivered prior to the occurrence of a Change of Control, stating that the Change of Control Offer is
conditional on the occurrence of such Change of Control; 
 (vi) that Holders electing to have any Securities purchased
pursuant to a Change of Control Offer will be required to surrender such Securities, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Securities completed, to the Paying Agent specified in the notice at
the address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date; 

(vii) that Holders will be entitled to withdraw their tendered Securities and their election to require the Issuers to purchase
such Securities, provided that the Paying Agent receives, not later than the close of business on the second Business Day prior to the Change of Control Payment Date, facsimile transmission or letter setting forth the name of the Holder of
the Securities, the principal amount of Securities tendered for purchase, and a statement that such Securities is withdrawing its tendered Securities and its election to have such Securities purchased; and 

(viii) the other instructions, as determined by the Issuers, consistent with this Section 4.08, that a Holder must follow.

 Securities repurchased by the Issuers pursuant to a Change of Control Offer will have the status of Securities issued but not outstanding
or will be retired and cancelled at the option of the Issuers. Securities purchased by a third party pursuant to the preceding paragraph will have the status of Securities issued and outstanding. 

  
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 The notice, if sent in a manner herein provided, shall be conclusively presumed to have been
given, whether or not the Holder receives such notice. If (a) the notice is sent in a manner herein provided and (b) any Holder fails to receive such notice or a Holder receives such notice but it is defective, such Holder’s failure
to receive such notice or such defect shall not affect the validity of the proceedings for the purchase of the Securities as to all other Holders that properly received such notice without defect. 

The Issuers shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase by the Issuers of Securities pursuant to a Change of Control Offer. To the extent that the provisions of any
securities laws or regulations conflict with the provisions of this Indenture, the Issuers shall comply with the applicable securities laws and regulations and shall not be deemed to have breached their obligations described in this Indenture by
virtue thereof. 
 (c) On the Change of Control Payment Date, the Issuers shall, to the extent permitted by law, 

(1) accept for payment all Securities or portions thereof properly tendered pursuant to the Change of Control Offer; 

(2) deposit with the Paying Agent an amount equal to the aggregate Change of Control Payment in respect of all Securities or
portions thereof so tendered; and 
 (3) deliver, or cause to be delivered, to the Trustee for cancellation the Securities so
accepted together with an Officer’s Certificate of the Issuers to the Trustee stating that such Securities or portions thereof have been tendered to and purchased by the Issuers. 

(d) The Issuers shall not be required to make a Change of Control Offer following a Change of Control if a third party makes the Change of
Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Issuers and purchases all Securities validly tendered and not withdrawn under
such Change of Control Offer. Notwithstanding anything to the contrary herein, a Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of
Control at the time of making of the Change of Control Offer. 
 (e) If Holders of not less than 90% in aggregate principal amount of the
outstanding Securities validly tender and do not withdraw such Securities in a Change of Control Offer and the Issuers, or any third party making a Change of Control Offer in lieu of the Issuers as described in Section 4.08(d), purchase all of the
Securities validly tendered and not withdrawn by such Holders, the Issuers or such third party will have the right, upon not less than 30 nor more than 60 days’ prior notice, given not more than 30 days following such purchase pursuant to the
Change of Control Offer described above, to redeem all Securities that remain outstanding following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to, but not including, the
applicable Redemption Date. 

  
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 (f) Other than as specifically provided in this Section 4.08, any purchase pursuant to this
Section 4.08 shall be made pursuant to the provisions of Sections 3.04, 3.07 and 3.08 hereof. 
 SECTION 4.09 Compliance
Certificate. The Issuers shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company, beginning with the fiscal year ending on or about December 31, 2014, a certificate (the signer of which shall be the
principal executive officer, the principal financial officer or the principal accounting officer of the Issuers) stating that in the course of the performance by the signer of the signer’s duties as an Officer of the Issuers the signer would
normally have knowledge of any Default and whether or not the signer knows of any Default that occurred during such period. If the signer knows of any such Default, the certificate shall describe such Default. The Issuers also shall comply with
Section 314(a)(4) of the Trust Indenture Act. 
 SECTION 4.10 Further Instruments and Acts. The Issuers shall execute and
deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

SECTION 4.11 Future Subsidiary Guarantors. The Company shall not permit any of its Restricted Subsidiaries to guarantee or
otherwise incur any Indebtedness under the Senior Credit Facilities unless such Restricted Subsidiary within 30 days executes and delivers a supplemental indenture to this Indenture, the form of which is attached as Exhibit C hereto,
providing for a Guarantee by such Restricted Subsidiary of the Securities. 
 Notwithstanding the foregoing, each such Guarantee may be
limited as necessary to recognize certain defenses generally available to guarantors (including those that relate to fraudulent conveyance or transfer, voidable preference, financial assistance, corporate purpose, capital maintenance or similar
laws, regulations or defenses affecting the rights of creditors generally) or other considerations under applicable law. 
 Each Guarantee
shall be released in accordance with Section 10.03. 
 SECTION 4.12 Liens. The Company shall not, and shall not permit any
Subsidiary Guarantor to, directly or indirectly, create, incur, assume or suffer to exist any Lien (except Permitted Liens) that secures obligations under any Indebtedness or any related guarantee, on any asset or property of the Company or any
Guarantor, or any income or profits therefrom, or assign or convey any right to receive income therefrom, unless: 
 (i) in
the case of Liens securing Subordinated Indebtedness, the Securities and related Guarantees are secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens; or 

(ii) in all other cases, the Securities or the Guarantees are equally and ratably secured, 

  
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 except that the foregoing shall not apply to or restrict (a) Liens securing the Securities and the related
Guarantees and (b) Liens securing obligations in respect of (x) Indebtedness and other obligations permitted to be incurred under Credit Facilities, including any letter of credit facility relating thereto, that was permitted by the terms
of this Indenture to be incurred pursuant to Section 4.03(b)(i) and (y) obligations of the Company or any Guarantor in respect of any Bank Products or Cash Management Services provided by any agent or lender party to any Senior Credit Facility
or any affiliate of such agent or lender (or any Person that was a lender or an affiliate of an agent or lender at the time the applicable agreements pursuant to which such Bank Products or Cash Management Services are provided were entered into).

 Any Lien created for the benefit of the Holders pursuant to this Section 4.12 shall be deemed automatically and unconditionally
released and discharged upon the release and discharge of each of the Liens described in clauses (i) and (ii) above. 
 The expansion
of Liens by virtue of accrual of interest, the accretion of accreted value, the payment of interest or dividends in the form of additional Indebtedness, amortization of original issue discount and increases in the amount of Indebtedness outstanding
solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness will not be deemed to be an incurrence of Liens for purposes of this Section 4.12. 

SECTION 4.13 Maintenance of Office or Agency. 

(a) The Issuers shall maintain an office or agency (which may be an office of the Trustee or an affiliate of the Trustee or Registrar) where
Securities may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuers in respect of the Securities and this Indenture may be served. The Issuers shall give prompt written notice to the
Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuers shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee; provided that no service of legal process may be made against the Issuers at any office of the Trustee. 

(b) The Issuers may also from time to time designate one or more other offices or agencies where the Securities may be presented or surrendered
for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Issuers of their obligation to maintain an office or agency for
such purposes. The Issuers shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

(c) The Issuers hereby designate the Corporate Trust Office of the Trustee or its agent as such office or agency of the Issuers in accordance
with Section 2.04. 
 SECTION 4.14 Suspension of Certain Covenants. 

(a) If, on any date following the Effective Date, (i) the Securities have an Investment Grade Rating from both Rating Agencies and
(ii) no Default has occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses (i) and (ii) 

  
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being collectively referred to as a “Covenant Suspension Event”) then, beginning on that day and continuing at all times thereafter until the Reversion Date, as defined below,
the Company and its Restricted Subsidiaries shall not be subject to Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.11 and clause (iv) of Section 5.01(a) of this Indenture (collectively, the “Suspended Covenants” and each
individually, a “Suspended Covenant”). In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period of time as a result of the foregoing, and on any
subsequent date (the “Reversion Date”) (A) one or both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Securities below an Investment Grade Rating, then the Company and the
Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants under this Indenture with respect to future events and (B) the Company or any of its Affiliates enters into an agreement to effect a transaction that would
result in a Change of Control and one or more of the Rating Agencies indicate that if consummated, such transaction (alone or together with any related recapitalization or refinancing transactions) would cause such Rating Agency to withdraw its
Investment Grade Rating or downgrade the ratings assigned to the Securities below Investment Grade Rating, then the Company and the Restricted Subsidiaries will thereafter again be subject to Section 4.08 of this Indenture with respect to
future events, including without limitation, the proposed transaction described in this clause (B). The period beginning on the day of a Covenant Suspension Event and ending on a Reversion Date is referred to herein as a “Suspension
Period.” 
 On each Reversion Date, all Indebtedness incurred, or Disqualified Stock or Preferred Stock issued, during the
Suspension Period shall be deemed to have been outstanding on the Effective Date, so that it is classified as permitted under Section 4.03(b)(iii). Calculations made after the Reversion Date of the amount available to be made as Restricted Payments
under Section 4.04 shall be made as though Section 4.04 had been in effect prior to, but not during, the Suspension Period. No Default or Event of Default will be deemed to have occurred on the Reversion Date (or thereafter) under any
Suspended Covenant solely as a result of any actions taken by the Company or its Restricted Subsidiaries, or events occurring, during the Suspension Period. On and after each Reversion Date, the Company and its Subsidiaries will be permitted to
consummate the transactions contemplated by any contract entered into during the Suspension Period (and not in contemplation of the Reversion Date) so long as such contract and such consummation would have been permitted during such Suspension
Period. 
 (b) For purposes of Section 4.05, on the Reversion Date, any contractual encumbrances or restrictions of the type specified
in clause (a), (b) or (c) of Section 4.05 entered into during the Suspension Period will be deemed to have been in effect on the Effective Date, so that they are permitted under clause (c)(1) of Section 4.05. 

(c) For purposes of Section 4.06, on the Reversion Date, the unutilized Excess Proceeds amount will be reset to zero. 

(d) For purposes of Section 4.07, any Affiliate Transaction entered into after the Reversion Date pursuant to a contract, agreement, loan,
advance or guaranty with, or for the benefit of, any Affiliate of the Company entered into during the Suspension Period will be deemed to have been in effect as of the Effective Date for purposes of Section 4.07(b)(vi). Within 10 days following the
Reversion Date, the Company must comply with the terms of Section 4.11. 

  
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 (e) During a Suspension Period, the Company may not designate any of its Subsidiaries as
Unrestricted Subsidiaries pursuant to the second sentence of the definition of “Unrestricted Subsidiaries.” For the avoidance of doubt, no existing Guarantors shall be released during any Suspension Period. 

(f) The Company shall deliver promptly to the Trustee an Officer’s Certificate notifying it of the any Suspension Period or any Reversion
Date. The Trustee shall have no independent obligation to determine if a Suspension Period has commenced or terminated, to notify the Holders regarding the same or to determine the consequences thereof. 

SECTION 4.15 Escrow of Proceeds; Activities Prior to Release 

(a) On the date hereof the Company entered into an escrow agreement (the “Escrow Agreement”) with the Trustee and Wilmington Trust,
National Association, as escrow agent (in such capacity, the “Escrow Agent”). Pursuant to the Escrow Agreement, the Initial Purchasers deposited an amount in cash (collectively, with any other property from time to time held by the Escrow
Agent, the “Escrowed Property”) equal to the gross proceeds of the offering of the Securities sold on the Issue Date into an escrow account (the “Escrow Account”) to be held by the Escrow Agent in its capacity as agent and
securities intermediary. The Investors caused a letter of credit (the “Escrow Letter of Credit”) to be issued for the benefit of the Trustee in an amount necessary to pay accrued and unpaid interest to, but excluding February 6, 2015
(the fifth business day after the latest termination date for release of Escrowed Property). The Company granted the Trustee, for the benefit of the Holders, a first priority security interest in the funds held in the escrow account to secure the
Obligations under the Securities pending disbursement pursuant to Section 4.15(b). 
 (b) In order to cause the Escrow Agent to release the
Escrowed Property to the Issuers (the “Release”), the Company must deliver to the Escrow Agent and the Trustee on or prior to January 30, 2015, an Officer’s Certificate of the Issuers certifying that 

(i) the closing contemplated by the Transaction Agreement shall be substantially consummated in connection therewith or before
such time in accordance with the terms and conditions of the Transaction Agreement as in effect on the Issue Date, together with such amendments, modifications and waivers that are not, individually or in the aggregate, materially adverse to the
Company and its Subsidiaries (after giving effect to the consummation of the Acquisition), taken as a whole, or to the Holders, as determined in good faith by the Company, without the consent of the holders of a majority in principal amount of the
Securities; provided that any change in the purchase price under the Transaction Agreement or reduction in the equity contributed by the Investors will not be deemed to be material and adverse to the Holders; 

  
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 (ii) all conditions precedent to the execution and delivery of the Senior Credit
Facilities (other than the release of the Escrowed Property) have been satisfied or waived and prior to or substantially concurrently with the release of the funds from the Escrow Account, the Senior Credit Facilities will be effective and able to
be drawn upon by the Company; and 
 (iii) no Default or Event of Default shall have occurred and be continuing under this
Indenture. 
 If on or prior to January 30, 2015, the Escrow Agent receives the Officer’s Certificate described above, the Escrow Agent shall
release the Escrowed Property (including investment earnings) to or at the order of the Company (the date of such release, the “Escrow Release Date”) and the Trustee shall deliver the original Escrow Letter of Credit to the Company for
cancellation. 
 (c) Prior to the consummation of the Acquisition, each of the Company and the
Co-Issuer will not perform any activities other than issuing the Securities, issuing capital stock to, and receiving capital contributions from, a direct or indirect parent company of the Company, performing
its obligations in respect of the Securities under this Indenture and the Escrow Agreement, performing its obligations under the Transaction Agreement, entering into the Senior Credit Facilities, consummating the Transactions and redeeming the
Securities, if applicable, and conducting such other activities as are necessary or appropriate to carry out the foregoing activities. Prior to the consummation of the Acquisition, the Company will not own, hold or otherwise have any interest in any
assets other than the Escrow Account and Cash Equivalents and its rights under any agreement entered into in furtherance of completion of the Transactions. 

(d) In the event that a Special Mandatory Redemption is made or required to be made by the Issuers pursuant to Paragraph 5 of the Securities,
the Issuers shall deliver notice of the Special Mandatory Redemption (a “Special Redemption Notice”) to the Trustee and will concurrently with the delivery of the Special Redemption Notice, instruct the Trustee to, at the Issuers’
expense, deliver within one Business Day (by first-class mail to each Holder’s registered address or otherwise in accordance with the procedures of the DTC) the Special Redemption Notice to the Holders. 

SECTION 4.16 Restrictions on Activities of the Co-Issuer. The Co-Issuer shall not hold any material assets, become liable for any material obligations or engage in any business activities or operations; provided that the Co-Issuer may
(i) be a co-obligor with respect to Indebtedness (including, for the avoidance of doubt, Securities) if the Company is a primary obligor on such Indebtedness, the net proceeds of such Indebtedness are
received by the Company or one or more of the Restricted Subsidiaries and such Indebtedness is otherwise permitted to be incurred under this Indenture and (ii) guarantee any Obligations under any Credit Facility. 

  
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 ARTICLE 5 

SUCCESSOR COMPANY 

SECTION 5.01 Merger, Consolidation or Sale of All or Substantially All Assets. 

(a) The Company shall not consolidate or merge with or into or wind up into (whether or not the Company is the surviving corporation), or sell,
assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one or more related transactions, to any Person unless: 

(i) the Company is the surviving Person or the Person formed by or surviving any such consolidation or merger (if other than
the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation, partnership or limited liability company organized or existing under the laws of the United States, any state
thereof or the District of Columbia (the Company or such Person, as the case may be, being herein called the “Successor Company”); 

(ii) the Successor Company, if other than the Company, expressly assumes all the obligations of the Company under this
Indenture and the Securities pursuant to a supplemental indenture or other document or instrument; 
 (iii) immediately after
such transaction, no Default shall have occurred and be continuing; 
 (iv) immediately after giving pro forma effect to such
transaction and any related financing transactions, as if such transactions had occurred at the beginning of the applicable four-quarter period, either: 

(A) the Successor Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge
Coverage Ratio test set forth in Section 4.03(a); or 
 (B) the Fixed Charge Coverage Ratio for the Successor Company and its
Restricted Subsidiaries would be equal to or greater than the Fixed Charge Coverage Ratio for the Company and its Restricted Subsidiaries immediately prior to such transaction; 

(v) each Guarantor, unless it is the other party to the transactions described above, in which case Section 5.01(c)(i)(B) shall
apply, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person’s obligations under this Indenture and the Securities; and 

(vi) the Successor Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each
stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture. 
 The Successor
Company (if other than the Company) shall succeed to, and be substituted for the Company, as the case may be, under this Indenture and the Securities, and in such event the Company will automatically be released and discharged from its obligation
under this Indenture and the Securities. 
 (b) The Co-Issuer may not consolidate or merge with or
into or wind up into (whether or not the Co-Issuer is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one
or more related transactions, to any Person unless: 

  
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 (i) the Co-Issuer is the surviving Person
or the Person formed by or surviving any such consolidation or merger (if other than the Co-Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a
corporation organized or existing under the laws of the United States, any state thereof or the District of Columbia (the Co-Issuer or such Person, as the case may be, being herein called the
“Successor Co-Issuer”); 
 (ii) the Successor Co-Issuer, if other than the Co-Issuer, expressly assumes all the obligations of the Co-Issuer under this Indenture and the Securities
pursuant to a supplemental indenture or other documents or instruments; 
 (iii) immediately after such transaction, no
Default shall have occurred and be continuing; 
 (iv) each Guarantor, unless it is the other party to the transactions
described above, in which case Section 5.01(c)(i)(B) shall apply, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person’s obligations under this Indenture and the Securities; and 

(v) the Successor Co-Issuer shall have delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture. 

The Successor Co-Issuer (if other than the Co-Issuer) will
succeed to, and be substituted for the Co-Issuer, as the case may be, under this Indenture and the Securities and in such event the Co-Issuer will automatically be
released and discharged from its obligation under this Indenture and the Securities. 
 Notwithstanding clauses (iii) and (iv) of
Section 5.01(a) and clause (iii) of Section 5.01(b), (A) any Restricted Subsidiary may consolidate with or merge with or into or wind up into or sell, assign, transfer, lease, convey or otherwise dispose of all or part of its properties and
assets to the Company or any Guarantor; (B) any Issuer may consolidate with or merge with or into or wind up into an Affiliate of an Issuer solely for the purpose of reincorporating an Issuer (solely as a corporation in the case of the Co-Issuer) in a state of the United States, the District of Columbia or any territory thereof, so long as the amount of Indebtedness of the Company and its Restricted Subsidiaries is not increased thereby;
(C) the Company or any of the Company’s Subsidiaries (other than the Co-Issuer) may be converted into, or reorganized or reconstituted as a limited liability company, limited partnership or
corporation in a state of the United States, the District of Columbia or any territory thereof and (D) the Co-Issuer may consolidate with or merge into or wind up into or sell, assign, transfer, lease,
convey or otherwise dispose of all of part of its properties and assets to the Company or a Guarantor, provided that the Company is, at such time, a corporation. 

(c) Subject to Section 10.03, no Subsidiary Guarantor shall, and the Issuers shall not permit any Subsidiary Guarantor to, consolidate or
merge with or into or wind up into (whether or not the Company or a Subsidiary Guarantor is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or
more related transactions, to any Person (other than any such sale, assignment, transfer, lease, conveyance or disposition in connection with the Transactions) unless: 

  
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 (i) (A) such Subsidiary Guarantor is the surviving Person or the Person
formed by or surviving any such consolidation or merger (if other than such Subsidiary Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or limited
liability company organized or existing under the laws of the jurisdiction of organization of such Subsidiary Guarantor, as the case may be, or under the laws of the United States, any state thereof, the District of Columbia or any territory thereof
(such Subsidiary Guarantor or such Person, as the case may be, being herein called the “Successor Person”), (B) the Successor Person (if other than such Subsidiary Guarantor) expressly assumes all the obligations of such Subsidiary
Guarantor under this Indenture and such Subsidiary Guarantor’s related Guarantee pursuant to supplemental indentures or other documents or instruments, (C) immediately after such transaction, no Default exists, and (D) the Successor
Person shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture; or 

(ii) the transaction is made in compliance with clauses (i) and (ii) of Section 4.06(a) hereof. 

Except as otherwise provided in this Indenture, the Successor Person (if other than such Subsidiary Guarantor) will succeed to, and be
substituted for, such Subsidiary Guarantor under this Indenture and such Subsidiary Guarantor’s Guarantee, and such Subsidiary Guarantor will automatically be released and discharged from its obligations under this Indenture and such Subsidiary
Guarantor’s Guarantee. Notwithstanding the foregoing, (1) any Subsidiary Guarantor may consolidate with or merge with or into or wind up into or sell, assign, transfer, lease, convey or otherwise dispose of all or part of its properties
and assets to another Subsidiary Guarantor or an Issuer, (2) a Subsidiary Guarantor may consolidate or merge with or into or wind up or convert into an Affiliate incorporated solely for the purpose of reincorporating such Subsidiary Guarantor
in another state of the United States or the District of Columbia so long as the amount of Indebtedness of the Subsidiary Guarantor is not increased thereby, or (3) a Subsidiary Guarantor may convert into a Person organized or existing under
the laws of a jurisdiction in the United States. 
 Clauses (iii) and (iv) of Section 5.01(a) shall not apply to a sale, assignment,
transfer, conveyance or other disposition of assets between or among the Company and the Restricted Subsidiaries. 
 SECTION 5.02
Successor Corporation Substituted. Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the assets of an Issuer in accordance with Section 5.01 hereof,
the successor corporation formed by such consolidation or into or with which such Issuer is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and
after the date of such consolidation, merger, sale, lease, conveyance or other disposition, the provisions of this Indenture referring to such Issuer shall 

  
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refer instead to the successor corporation and not to such Issuer), and may exercise every right and power of such Issuer under this Indenture with the same effect as if such successor Person had
been named as an Issuer herein; provided that the predecessor Issuer shall not be relieved from the obligation to pay the principal of and interest, if any, on the Securities except in the case of a sale, assignment, transfer, lease,
conveyance or other disposition of all of such Issuer’s assets that meets the requirements of Section 5.01 hereof. 
 ARTICLE 6

 DEFAULTS AND REMEDIES 

SECTION 6.01 Events of Default. An “Event of Default” with respect to the Securities occurs if: 

(a) there is a default in payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or premium, if any, on the
Securities; 
 (b) there is a default for 30 days or more in the payment when due of interest on or with respect to the Securities; 

(c) the Company fails for 90 days after receipt of written notice given by the Trustee or the Holders of not less than 30% in principal amount
of the Securities to comply with any of its obligations, covenants or agreements described in Section 4.02; 
 (d) the Issuers or any
Guarantor fails for 60 days after receipt of written notice given by the Trustee or the Holders of not less than 30% in principal amount of the Securities to comply with any of its obligations, covenants or agreements (other than a default referred
to in clauses (a), (b) and (c) above) contained in this Indenture or the Securities; 
 (e) there is a default under any mortgage,
indenture or instrument under which there is issued or by which there is secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries or the payment of which is guaranteed by the Company or any of its
Restricted Subsidiaries, other than Indebtedness owed to the Company or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists or is created after the issuance of the Securities, if both: 

(a) such default either results from the failure to pay any principal of such Indebtedness at its stated final maturity (after
giving effect to any applicable grace periods) or relates to an obligation other than the obligation to pay principal of any such Indebtedness at its stated final maturity and results in the holder or holders of such Indebtedness causing such
Indebtedness to become due prior to its stated maturity; and 
 (b) the principal amount of such Indebtedness, together with
the principal amount of any other such indebtedness in default for failure to pay any principal at its stated final maturity (after giving effect to any applicable grace periods), or the maturity of which has been so accelerated, aggregate
$35.0 million or more at any one time outstanding; 

  
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 (f) the Company or any Significant Subsidiary, or any group of Restricted Subsidiaries that,
taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, fails to pay final judgments aggregating in excess of $35.0 million, which final judgments remain unpaid,
undischarged, unwaived and unstayed for a period of more than 90 days after such judgment becomes final, and in the event such judgment is covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or
decree which is not promptly stayed; 
 (g) an Issuer or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law: 

(i) commences a voluntary case; 

(ii) consents to the entry of an order for relief against it in an involuntary case; 

(iii) consents to the appointment of a custodian of it or for all or substantially all of its property; or 

(iv) makes a general assignment for the benefit of its creditors; 

(h) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(i) is for relief against an Issuer or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary, in a proceeding in which an Issuer or any such Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken
together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, is to be adjudicated bankrupt or insolvent; 

(ii) appoints a receiver, liquidator, assignee, trustee, sequestrator or other similar official of an Issuer or any of its
Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, or for all
or substantially all of the property of an Issuer or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the
Company), would constitute a Significant Subsidiary; or 
 (iii) orders the liquidation of an Issuer or any of its Restricted
Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary; 

and the order or decree remains unstayed and in effect for 60 consecutive days; or 

  
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 (i) the Guarantee of any Significant Subsidiary, or any group of Restricted
Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, shall for any reason cease to be in full force and effect or any responsible officer of any
Guarantor that is a Significant Subsidiary, or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, as the case may be,
denies that it has any further liability under its or their Guarantee(s) or gives notice to such effect, other than by reason of the termination of this Indenture or the release of any such Guarantee in accordance with this Indenture. 

In the event of any Event of Default specified in clause (e) above, such Event of Default and all consequences thereof (excluding any
resulting payment default, other than as a result of acceleration of the Securities) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders, if within 20 days after such Event of Default arose:

 (1) the Indebtedness or guarantee that is the basis for such Event of Default has been discharged; or 

(2) holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event
of Default; or 
 (3) the default that is the basis for such Event of Default has been cured. 

SECTION 6.02 Acceleration. If any Event of Default (other than an Event of Default specified in clause (g) or (h) of
Section 6.01 hereof with respect to the Company) occurs and is continuing under this Indenture, the Trustee or the Holders of at least 30% in principal amount of the then total outstanding Securities by notice to the Issuers may declare the
principal, premium, if any, interest and any other monetary obligations on all the then outstanding Securities to be due and payable immediately. Upon the effectiveness of such declaration, such principal, premium, if any, and interest shall be due
and payable immediately. 
 Notwithstanding the foregoing, in the case of an Event of Default arising under clause (g) or (h) of
Section 6.01 hereof with respect to the Company, all outstanding Securities shall be due and payable immediately without further action or notice. 

The Holders of a majority in aggregate principal amount of the then outstanding Securities by written notice to the Trustee may on behalf of
all of the Holders rescind an acceleration and its consequences: 
 (1) if the rescission would not conflict with any
judgment or decree; 
 (2) if all existing Events of Default have been cured, waived, annulled or rescinded except nonpayment
of principal or interest that has become due solely because of the acceleration; 

  
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 (3) to the extent the payment of such interest is lawful, interest on overdue
installments of interest and overdue principal, which has become due otherwise than by such declaration of acceleration, has been paid; and 

(4) if the Issuers have paid the Trustee its compensation and reimbursed the Trustee for its reasonable expenses, disbursements
and advances. 
 SECTION 6.03 Other Remedies. If an Event of Default with respect to the Securities occurs and is continuing,
the Trustee may pursue any available remedy at law or in equity to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A
delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any
other remedy. To the extent permitted by law, all available remedies are cumulative. 
 SECTION 6.04 Waiver of Past Defaults.
Provided the Securities are not then due and payable by reason of a declaration of acceleration, the Holders of not less than a majority in principal amount of the then outstanding Securities by written notice to the Trustee may on the behalf of all
Holders waive an existing Default or Event of Default and its consequences except (a) a continuing Default or Event of Default in the payment of the principal of or interest on a Security, (b) a continuing Default or Event of Default
arising from the failure to redeem or purchase any Security when required pursuant to the terms of this Indenture or (c) a Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder
affected. When a Default is waived, it is deemed cured and the Issuers, the Trustee and the Holders will be restored to their former positions and rights under this Indenture, but no such waiver shall extend to any subsequent or other Default or
impair any consequent right. 
 SECTION 6.05 Control by Majority. The Holders of a majority in principal amount of the then
outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction
that conflicts with law or this Indenture or, subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability. Prior to taking any action under
this Indenture, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 

  
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 SECTION 6.06 Limitation on Suits. 

(a) Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with
respect to this Indenture or the Securities unless: 
 (i) such Holder has previously given the Trustee written notice that
an Event of Default is continuing; 
 (ii) the Holders of at least 30% in principal amount of the total outstanding
Securities have requested the Trustee, in writing, to pursue the remedy; 
 (iii) such Holders have offered the Trustee
security or indemnity satisfactory to it against any loss, liability or expense; 
 (iv) the Trustee has not complied with
such request within 60 days after receipt thereof and the offer of security or indemnity; and 
 (v) Holders of a majority in
principal amount of the total outstanding Securities have not given the Trustee a written direction inconsistent with such request within such 60-day period. 

(b) A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder (it
being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders). 

SECTION 6.07 Rights of the Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right of any
Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed or provided for in the Securities, or to bring suit for the enforcement of any such payment on or after such
respective dates, shall not be impaired or affected without the consent of such Holder. 
 SECTION 6.08 Collection Suit by
Trustee. If an Event of Default specified in Section 6.01(a) or (b) occurs and is continuing with respect to Securities, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuers or any
Guarantor on the Securities for the whole amount then due and owing (together with interest on overdue principal and (to the extent lawful) on any unpaid interest at the rate provided for in such Securities) and the amounts provided for in
Section 7.07. 
 SECTION 6.09 Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers
or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for compensation and reasonable expenses, disbursements and advances of the Trustee (including counsel, accountants, experts or such other
professionals as the Trustee deems necessary, advisable or appropriate)) and the Holders of Securities then outstanding allowed in any judicial proceedings relative to the Issuers or any Guarantor, its creditors or its property, shall be entitled to
participate as a member, voting or otherwise, of any official committee of creditors appointed in such matters and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or
other Person performing similar functions, and any custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly
to the Holders, to pay to the Trustee any amount due it for the compensation, and reasonable expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.07. 

  
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 SECTION 6.10 Priorities. If the Trustee collects any money or property pursuant to
this Article 6 or, after an Event of Default, any money or other property distributable in respect of the Issuers’ obligations under this Indenture, it shall pay out the money or property shall be paid out in the following order: 

FIRST: to the Trustee (including any predecessor trustee) for amounts due under Section 7.07; 

SECOND: to the Holders for amounts due and unpaid on the Securities for principal, premium, if any, and interest, ratably,
without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 

THIRD: to the Issuers. 

The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this Section. At least 15 days before such
record date, the Trustee shall send to each Holder and the Issuers a notice that states the record date, the payment date and amount to be paid. 

SECTION 6.11 Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a
suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by Holders of more than 10% in principal amount of the Securities. 

SECTION 6.12 Waiver of Stay or Extension Laws. Neither the Issuers nor any Guarantor (to the extent it may lawfully do so) shall
at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and each Issuer and each Guarantor (to the extent that it may lawfully do so) hereby expressly waive all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee,
but shall suffer and permit the execution of every such power as though no such law had been enacted. 

  
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 ARTICLE 7 

TRUSTEE 

SECTION 7.01 Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and
use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no
implied covenants or obligations shall be read into this Indenture against the Trustee (it being agreed that the permissive right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty); and 

(ii) the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed
therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. The Trustee shall be under no duty to make any investigation as to any statement contained in any such instance, but may accept the
same as conclusive evidence of the truth and accuracy of such statement or the correctness of such opinions. However, in the case of certificates or opinions required by any provision hereof to be provided to it, the Trustee shall examine the
certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts, statements, opinions or conclusions stated
therein). 
 (c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own
willful misconduct, except that: 
 (i) this Section 7.01(c) does not limit the effect of Sections 7.01(b) and 7.01(i); 

(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer unless it is proved in a
court of competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Trustee
shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05. 

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to Sections 7.01(a), (b) and (c). 

(e) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuers. 

(f) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

  
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 (g) Every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section 7.01 and to the provisions of the Trust Indenture Act. 

(h) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from an Issuer will be sufficient if
signed by an Officer of such Issuer. 
 (i) No provision of this Indenture shall require the Trustee to expend or risk its
own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 

SECTION 7.02 Rights of Trustee. 

(a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper
person. The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting,
it may require an Officer’s Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officer’s Certificate or Opinion of Counsel. 

(c) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any attorney or agent
appointed with due care. 
 (d) The Trustee shall not be liable for any action it takes, suffers or omits to take in good faith which it
believes to be authorized or within its discretion, rights or powers conferred upon it by this Indenture; provided, however, that the Trustee’s conduct does not constitute negligence or willful misconduct. 

(e) The Trustee may consult with counsel of its own selection and the advice or opinion of counsel with respect to legal matters relating to
this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel.

 (f) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see
fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuers, personally or by agent or attorney, at the expense of the Issuers and shall incur
no liability of any kind by reason of such inquiry or investigation. 

  
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 (g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it
by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which
might be incurred by it in compliance with such request or direction. 
 (h) The rights, privileges, protections, immunities and benefits
given to the Trustee, including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

(i) The Trustee shall not be liable for any action taken or omitted by it in good faith at the direction of the Holders of not less than a
majority in principal amount of the outstanding Securities as to the time, method and place of conducting any proceedings for any remedy available to the Trustee or the exercising of any power conferred by this Indenture. 

(j) Any action taken, or omitted to be taken, by the Trustee in good faith pursuant to this Indenture upon the request or authority or consent
of any person who, at the time of making such request or giving such authority or consent, is the Holder of any Security shall be conclusive and binding upon future Holders of Securities and upon Securities executed and delivered in exchange
therefor or in place thereof. 
 (k) In no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential
loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(l) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder. 

(m) The Trustee may request that the Issuers deliver a certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture. 
 SECTION 7.03 Individual Rights of Trustee. The Trustee in
its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Issuers or their Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent or Registrar may do the same
with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 
 SECTION 7.04 Trustee’s
Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture, any Guarantee or the Securities, it shall not be accountable for the Issuers’ use of the proceeds from the
Securities, and it shall not be responsible for any statement of the Issuers or any Guarantor in this Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee’s certificate of
authentication. The Trustee shall not be charged with knowledge of any Default or Event of Default unless a Trust Officer of the Trustee shall have received written notice thereof in accordance with Section 11.02 hereof from the Issuers, any
Guarantor or any Holder at the Corporate Trust Office of the Trustee. In accepting the trust hereby created, the Trustee acts solely as Trustee for the Holders and not in its individual capacity and all persons,

  
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including without limitation the Holders of Securities and the Issuer having any claim against the Trustee arising from this Indenture shall look only to the funds and accounts held by the
Trustee hereunder for payment. The Trustee shall not be responsible to make any calculation with respect to any matter under this Indenture. The Trustee shall have no duty to monitor or investigate the Issuers’ compliance with or the breach of,
or cause to be performed or observed, any representation, warranty, covenant or agreement of any Person, other than the Trustee, made in this Indenture. 

SECTION 7.05 Notice of Defaults. If a Default occurs and is continuing and if it is actually known to a Trust Officer of the
Trustee, the Trustee shall send to each Holder notice of the Default within the earlier of 90 days after it occurs or 30 days after it is actually known to a Trust Officer or written notice of it is received by the Trustee, or promptly after
discovery or obtaining notice if such discovery is made or notice is received 90 days after the Default occurs. Except in the case of a Default in the payment of principal of, premium (if any) or interest on any Security, the Trustee may withhold
the notice if and so long as it in good faith determines that withholding the notice is in the interests of the Holders. 

SECTION 7.06 Reports by Trustee to the Holders. As promptly as practicable after each October 15 beginning with the
October 15 following the date of this Indenture, and in any event prior to October 15 in each year, for so long as Securities remain outstanding, the Trustee shall send to each Holder a brief report dated as of such reporting date that
complies with Section 313(a) of the Trust Indenture Act if and to the extent required thereby. The Trustee shall also comply with Section 313(b) of the Trust Indenture Act. 

A copy of each report at the time of its delivery to the Holders will be sent by the Trustee to the Issuer and shall be filed by the Trustee
with the SEC and each stock exchange (if any) on which the Securities are listed in accordance with Section 313(d) of the Trust Indenture Act. The Issuers agree to notify promptly the Trustee in writing whenever the Securities become listed on any
stock exchange and of any delisting thereof. 
 SECTION 7.07 Compensation and Indemnity. The Issuers shall pay to the Trustee
from time to time such compensation for its services as shall be agreed in writing between the Issuers and the Trustee. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuers
shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation
for its services, except any such disbursements, advances or expenses as may be attributable to its negligence or willful misconduct as determined by a court of competent jurisdiction. Such expenses shall include the reasonable compensation and
expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts. The Issuers and each Guarantor, jointly and severally, shall indemnify the Trustee and its officers, directors, employees and agents against any and
all loss, liability, claim, damage or expense (including reasonable attorneys’ fees and expenses) incurred by it arising out of or in connection with the acceptance or administration of this trust and the performance of its duties under this
Indenture, including the costs and expenses of enforcing this Indenture or Guarantee against the Issuers or a Guarantor (including this Section 7.07) and defending itself against or investigating any claim (whether asserted by the Issuers, any
Guarantor, any Holder or any other Person). The obligation to pay such amounts shall survive the payment in full or defeasance of 

  
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the Securities or the removal or resignation of the Trustee. The Trustee shall notify the Issuers of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof;
provided, however, that any failure so to notify the Issuers shall not relieve the Issuers or any Guarantor of its indemnity obligations hereunder. The Issuers shall defend the claim and the indemnified party shall provide reasonable
cooperation at the Issuers’ expense in the defense. Such indemnified parties may have separate counsel and the Issuers and the Guarantors, as applicable, shall pay the fees and expenses of such counsel; provided, however, that the
Issuers shall not be required to pay such fees and expenses if they assume such indemnified parties’ defense and, in such indemnified parties’ reasonable judgment, there is no conflict of interest between the Issuers and the Guarantors, as
applicable, and such parties in connection with such defense. The Issuers need not reimburse any expense or indemnify against any loss, liability or expense incurred by an indemnified party through such party’s own willful misconduct,
negligence or bad faith as determined by a court of competent jurisdiction. 
 To secure the Issuers’ and the Guarantors’ payment
obligations in this Section, the Trustee shall have a Lien prior to the Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities
pursuant to Article 8 hereof or otherwise. 
 The Issuers’ and the Guarantors’ payment obligations pursuant to this Section shall
survive the satisfaction or discharge of this Indenture, any rejection or termination of this Indenture under any Bankruptcy Law or the resignation or removal of the Trustee. Without prejudice to any other rights available to the Trustee under
applicable law, when the Trustee incurs expenses after the occurrence of a Default specified in Section 6.01(g) or (h) with respect to an Issuer, the expenses are intended to constitute expenses of administration under the Bankruptcy Law. 

No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if adequate indemnity against such risk or liability is not assured to its satisfaction. 

“Trustee” for purposes of this Section shall include any predecessor Trustee; provided, however, that the
negligence or willful misconduct of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 
 SECTION 7.08
Replacement of Trustee. 
 (a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective
only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08. 
 (b) The Trustee may resign in
writing at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of a majority in aggregate principal amount of the then outstanding Securities may remove the Trustee by so notifying the Trustee and the
Issuers in writing, and may appoint a successor Trustee. The Issuers shall remove the Trustee if: 

  
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 (i) the Trustee fails to comply with Section 7.10; 

(ii) the Trustee is adjudged bankrupt or insolvent, or an order for relief is entered with respect to the Trustee under any
Bankruptcy Law; 
 (iii) a receiver or other public officer takes charge of the Trustee or its property; or 

(iv) the Trustee otherwise becomes incapable of acting. 

(c) If the Trustee resigns, is removed by the Issuers or by the Holders of a majority in principal amount of the Securities and such Holders do
not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuers shall promptly appoint a successor Trustee.

 (d) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. Thereupon the
resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to the
Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. 

(e) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the
Holders of at least 10% in aggregate principal amount of the then outstanding Securities may petition at the expense of the Issuers any court of competent jurisdiction for the appointment of a successor Trustee. 

(f) If the Trustee fails to comply with Section 7. 10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of
the Trust Indenture Act, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(g) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuers’ obligations under Section 7.07 shall
continue for the benefit of the retiring Trustee. 
 SECTION 7.09 Successor Trustee by Merger. If the Trustee consolidates with,
merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor
Trustee. 
 In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the
trusts created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Securities so
authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the
Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 

  
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 SECTION 7.10 Eligibility; Disqualification. The Trustee shall at all times satisfy
the requirements of Section 310(a) of the Trust Indenture Act. The Trustee shall have a combined capital and surplus of at least $50 million as set forth in its most recent published annual report of condition. The Trustee shall comply with
Section 310(b) of the Trust Indenture Act, subject to its right to apply for a stay of its duty to resign under the penultimate paragraph of Section 310(b) of the TIA; provided, however, that there shall be excluded from the operation
of Section 310(b)(1) of the Trust Indenture Act any series of securities issued under this Indenture and any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Issuers are
outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the Trust Indenture Act are met. 
 SECTION 7.11
Preferential Collection of Claims Against the Issuers. The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship listed in Section 311(b) of the Trust Indenture Act. A Trustee who has
resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent indicated. 
 SECTION 7.12 Tax
Payment and Tax Withholding Obligations. In order to comply with applicable tax laws, rules and regulations a foreign financial institution, issuer, trustee, paying agent, holder or other institution is or has agreed to be subject to
(“Applicable Law”) related to this Indenture, the Issuers agree, upon written request by the Trustee, to provide to the Trustee such requested information about such parties and/or transactions (including any modification to the
terms of such transactions) so it can determine whether it has any tax related obligations under Applicable Law that the Issuers have in their possession. 

ARTICLE 8 
 DISCHARGE OF
INDENTURE; DEFEASANCE 
 SECTION 8.01 Discharge of Liability on Securities; Defeasance. This Indenture shall be discharged
and shall cease to be of further effect as to all outstanding Securities when: 
 (a) either (i) all Securities theretofore
authenticated and delivered, except lost, stolen or destroyed Securities which have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuers and thereafter
repaid to the Issuers or discharged from trust, have been delivered to the Trustee for cancellation; or (ii) all Securities not theretofore delivered to the Trustee for cancellation have become due and payable by reason of the making of a
notice of redemption or otherwise, will become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and
at the expense, of the Issuers and the Issuers or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars, Government Securities, or a
combination thereof, in such amounts as will be sufficient without consideration of any reinvestment of interest to pay and discharge the entire indebtedness on the Securities not theretofore delivered to the Trustee for

  
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cancellation for principal, premium, if any, and accrued interest to, but not including, the date of maturity or redemption together with irrevocable instructions from the Issuers to the Trustee
to apply the deposited money toward the payment of the Securities at maturity or the redemption date, as the case may be; 
 (b) the Issuers
and/or the Guarantors have paid or caused to be paid all sums payable by it under this Indenture; and 
 (c) the Company has delivered an
Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to the satisfaction and discharge have been satisfied. 

Subject to Section 8.02, the Issuers may, at their option and at any time, elect to discharge (i) all of their obligations under the
Securities and this Indenture (“legal defeasance option”) or (ii) its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.11, 4.12 and 4.16 for the benefit of the Holders and the operation of
Section 5.01 and Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f), 6.01(g) (with respect to Significant Subsidiaries of the Company only), 6.01(h) (with respect to Significant Subsidiaries of the Company only) and 6.01(i) (“covenant
defeasance option”) for the benefit of the Holders. The Issuers may exercise their legal defeasance option notwithstanding their prior exercise of their covenant defeasance option. In the event that the Issuers terminate all of their
obligations under the Securities and this Indenture by exercising their legal defeasance option or their covenant defeasance option, the obligations of each Guarantor under its Guarantee of the Securities shall be terminated simultaneously with the
termination of such obligations so long as no Securities are then outstanding. 
 If the Issuers exercise their legal defeasance option,
payment of the Securities so defeased may not be accelerated because of an Event of Default. If the Issuers exercise their covenant defeasance option, payment of the Securities so defeased may not be accelerated because of an Event of Default
specified in Section 6.01(c), 6.01(d), 6.01(e), 6.01(f), 6.01(g) (with respect to Significant Subsidiaries of the Company only), 6.01(h) (with respect to Significant Subsidiaries of the Company only), 6.01(i) or because of the failure of the Issuers
to comply with subclause (a)(iv) of Section 5.01. 
 Upon satisfaction of the conditions set forth herein and upon request of the
Issuers, the Trustee shall acknowledge in writing the discharge of those obligations that the Issuers terminate. 
 Notwithstanding Section
8.01(a) above, the Issuers’ obligations in Sections 2.04, 2.05, 2.06, 2.07, 2.08, 2.09, 7.07, 7.08 and in this Article 8 shall survive until the Securities have been paid in full. Thereafter, the Issuers’ obligations in Sections 7.07, 8.05
and 8.06 shall survive such satisfaction and discharge. 

  
 106 

 SECTION 8.02 Conditions to Defeasance. 

(a) The Issuers may exercise their legal defeasance option or their covenant defeasance option, in each case, with respect to the Securities
only if: 
 (i) the Issuers must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S.
dollars, Government Securities, or a combination thereof, in such amounts as will be sufficient, without consideration of any reinvestment of interest, in the opinion of a nationally recognized firm of independent public accountants, investment bank
or appraisal firm, to pay the principal of, premium, if any, and interest due on the Securities on the stated maturity date or on the redemption date, as the case may be, of such principal, premium, if any, or interest on such Securities
(provided that if such redemption is made as provided under paragraph 5 of the Security, (x) the amount of cash in U.S. dollars, Government Securities, or a combination thereof, that the Issuers must irrevocably deposit or cause to be
deposited will be determined using an assumed Applicable Premium calculated as of the date of such deposit and (y) the Issuers must irrevocably deposit or cause to be deposited additional money in trust on the redemption date as necessary to
pay the Applicable Premium as determined on such date) and the Issuers must specify whether such Securities are being defeased to maturity or to a particular redemption date; 

(ii) in the case of legal defeasance, the Issuers shall have delivered to the Trustee an Opinion of Counsel confirming that,
subject to customary assumptions and exclusions, (a) the Issuers have received from, or there has been published by, the United States Internal Revenue Service a ruling, or (b) since the issuance of the Securities, there has been a change
in the applicable U.S. federal income tax law, 
 in either case to the effect that, and based thereon such Opinion of Counsel shall confirm
that, subject to customary assumptions and exclusions, the Holders will not recognize income, gain or loss for U.S. federal income tax purposes, as applicable, as a result of such legal defeasance and will be subject to U.S. federal income tax on
the same amounts, in the same manner and at the same times as would have been the case if such legal defeasance had not occurred; 

(iii) in the case of covenant defeasance, the Issuers shall have delivered to the Trustee an Opinion of Counsel confirming
that, subject to customary assumptions and exclusions, the Holders will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such covenant defeasance and will be subject to such tax on the same amounts, in the same
manner and at the same times as would have been the case if such covenant defeasance had not occurred; 
 (iv) no Default
(other than that resulting from borrowing funds to be applied to make such deposit and the granting of Liens in connection therewith) shall have occurred and be continuing on the date of such deposit; 

(v) such legal defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under
the Senior Credit Facilities or any other material agreement or instrument (other than this Indenture) to which the Issuers or any Guarantor is a party or by which the Issuers or any Guarantor is bound; 

(vi) the Company shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by the
Issuers with the intent of defeating, hindering, delaying or defrauding any creditors of the Issuers or any Guarantor or others; and 

  
 107 

 (vii) the Company shall have delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel (which Opinion of Counsel may be subject to customary assumptions and exclusions) each stating that all conditions precedent provided for or relating to the legal defeasance or the covenant defeasance, as the
case may be, have been complied with. 
 Notwithstanding the foregoing, an Opinion of Counsel required by Section 8.02(a)(ii) with respect
to legal defeasance need not be delivered if all of the Securities not theretofore delivered to the Trustee for cancellation (x) have become due and payable or (y) will become due and payable at their stated maturity within one year under
arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuers. 

(b) Before or after a deposit, the Issuers may make arrangements satisfactory to the Trustee for the redemption of such Securities at a future
date in accordance with Article 3. 
 SECTION 8.03 Application of Trust Money. The Trustee shall hold in trust money or
Government Securities (including proceeds thereof) deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from Government Securities through each Paying Agent and in accordance with this Indenture to the
payment of principal of and interest on the Securities so discharged or defeased. 
 SECTION 8.04 Repayment to Issuers. Each of
the Trustee and each Paying Agent shall promptly turn over to the Issuers upon written request any money or Government Securities held by it as provided in this Article which, in the written opinion of a nationally recognized firm of independent
public accountants delivered to the Trustee (which delivery shall only be required if Government Securities have been so deposited), are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge
or defeasance in accordance with this Article 8. 
 Subject to any applicable abandoned property law, the Trustee and each Paying Agent
shall pay to the Issuers upon written request any money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Issuers for payment as general
creditors, and the Trustee and each Paying Agent shall have no further liability with respect to such monies. 
 SECTION 8.05
Indemnity for Government Securities. The Issuers shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited Government Securities or the principal and interest received on such
Government Securities. 
 SECTION 8.06 Reinstatement. If the Trustee or any Paying Agent is unable to apply any money or
Government Securities in accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the
Issuers’ obligations under 

  
 108 

 
this Indenture and the Securities so discharged or defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or any
Paying Agent is permitted to apply all such money or Government Securities in accordance with this Article 8; provided, however, that, if the Issuers have made any payment of principal of or interest on, any such Securities because of
the reinstatement of its obligations, the Issuers shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or Government Securities held by the Trustee or any Paying Agent. 

ARTICLE 9 
 AMENDMENTS
AND WAIVERS 
 SECTION 9.01 Without Consent of the Holders. The Issuers, the Guarantors (with respect to a Guarantee or this
Indenture to which it is a party) and the Trustee may amend or supplement this Indenture and any Guarantee or the Securities without the consent of any Holder: 

(i) to cure any ambiguity, omission, mistake, defect or inconsistency as certified by the Issuers; 

(ii) to provide for uncertificated Securities of such series in addition to or in place of certificated Securities; 

(iii) to comply with the covenant relating to mergers, consolidations and sales of assets; 

(iv) to provide for the assumption of the Issuers’ or any Guarantor’s obligations to the Holders in a transaction
that complies with this Indenture; 
 (v) to make any change that would provide any additional rights or benefits to the
Holders or that does not adversely affect the legal rights under this Indenture of any such Holder; 
 (vi) to add covenants
for the benefit of the Holders or to surrender any right or power conferred upon the Issuers or any Guarantor; 
 (vii) to
comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the Trust Indenture Act; 

(viii) to evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee thereunder
pursuant to the requirements thereof; 
 (ix) to provide for the issuance of exchange notes or private exchange notes, which
are identical to exchange notes except that they are not freely transferable; 
 (x) to add a Guarantor under this Indenture
or to release a Guarantor in accordance with the terms of this Indenture and to provide for any local law restrictions required by the jurisdiction of organization of such Guarantor; 

  
 109 

 (xi) to conform the text of this Indenture, the Guarantees or the Securities to
any provision of the Offering Circular under the caption “Description of Notes” to the extent that such provision in the “Description of Notes” was intended to be a verbatim recitation of a provision of this
Indenture, the Guarantees or the Securities as certified by the Issuers; 
 (xii) to make certain changes to this Indenture
to provide for the issuance of Additional Securities; or 
 (xiii) to make any amendment to the provisions of this Indenture
relating to the transfer and legending of Securities as permitted by this Indenture, including, without limitation to facilitate the issuance of the Securities and administration of this Indenture; provided, however, that
(i) compliance with this Indenture as so amended would not result in Securities being transferred in violation of the Securities Act or any applicable securities law and (ii) such amendment does not materially and adversely affect the
rights of Holders to transfer Securities. 
 After an amendment under this Section 9.01 becomes effective, the Issuers shall send to
the Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.01. 

SECTION 9.02 With Consent of the Holders. Notwithstanding Section 9.01 of this Indenture, the Issuers, the Guarantors and the
Trustee may amend or supplement this Indenture, the Securities or the Guarantees with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding voting as a single class (including consents
obtained in connection with a purchase of, or tender offer or exchange offer for, the Securities), and, subject to Sections 6.04 and 6.07, any past or existing Default or Event of Default (other than a Default or Event of Default in the payment of
the principal of, premium, if any, or interest on the Securities, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture, the Securities or the Guarantees may be waived
with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Securities (including Additional Securities, if any) voting as a single class (including consents obtained in connection with the purchase of, or
tender offer or exchange offer for, the Securities). Section 2.09 and Section 11.06 shall determine which Securities are considered to be “outstanding” for the purposes of this Section 9.02. However, without the consent of
each Holder of an outstanding Security affected, an amendment or waiver may not, with respect to any Securities held by a non-consenting Holder: 

(i) reduce the principal amount of such Securities whose Holders must consent to an amendment, supplement or waiver; 

(ii) reduce the principal of or change the fixed final maturity of any such Security or alter or waive the provisions with
respect to the redemption of such Securities (other than provisions relating to Sections 4.06 and 4.08); 

  
 110 

 (iii) reduce the rate of or change the time for payment of interest on any
Security; 
 (iv) waive a Default in the payment of principal of or premium, if any, or interest on the Securities, except a
rescission of acceleration of the Securities by the Holders of at least a majority in aggregate principal amount of the Securities and a waiver of the payment default that resulted from such acceleration, or in respect of a covenant or provision
contained in this Indenture or any Guarantee which cannot be amended or modified without the consent of all affected Holders; 

(v) make any Security payable in money other than that stated in such Security; 

(vi) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders to
receive payments of principal of or premium, if any, or interest on the Securities; 
 (vii) make any change to this
Section 9.02; 
 (viii) impair the right of any Holder to receive payment of principal of, premium, if any, and interest
on such Holder’s Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Securities; 

(ix) make any change to or modify the ranking of the Securities that would materially adversely affect the Holders; or 

(x) except as expressly permitted by this Indenture, modify the Guarantee of any Significant Subsidiary, or any group of
Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company), would constitute a Significant Subsidiary, in any manner adverse to the Holders. 

It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment under this Section 9.02
becomes effective, the Issuers shall promptly send to the Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this
Section 9.02. 
 SECTION 9.03 Compliance with Trust Indenture Act. From the date on which this Indenture is qualified under
the Trust Indenture Act, every amendment, waiver or supplement to this Indenture or the Securities shall comply with the Trust Indenture Act as then in effect. 

  
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 SECTION 9.04 Revocation and Effect of Consents and Waivers. 

(a) A consent to an amendment or a waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security or
portion of the Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent or waiver as
to such Holder’s Security or portion of the Security if the Trustee receives written notice of revocation delivered in accordance with Section 11.02 before the date on which the Trustee receives an Officer’s Certificate from the
Issuers certifying that the requisite principal amount of Securities have consented. After an amendment or waiver becomes effective, it shall bind every Holder. An amendment or waiver becomes effective upon the (i) receipt by the Issuers or the
Trustee of consents by the Holders of the requisite principal amount of securities, (ii) satisfaction of conditions to effectiveness as set forth in this Indenture and any indenture supplemental hereto containing such amendment or waiver and
(iii) execution of such amendment or waiver (or supplemental indenture) by the Issuers and the Trustee. 
 (b) The Issuers may, but
shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is
fixed, then notwithstanding Section 9.04(a), those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take
any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

SECTION 9.05 Notation on or Exchange of Securities. If an amendment, supplement or waiver changes the terms of a Security, the
Issuers may require the Holder to deliver it to the Trustee. The Trustee, at the direction of the Issuers, may place a notation on the Security regarding the changed terms and return it to the Holder. Alternatively, if the Issuers so determine, the
Issuers in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make a notation or to issue a new Security shall not affect the validity of such amendment, supplement or
waiver. 
 SECTION 9.06 Trustee to Sign Amendments. The Trustee shall sign any amendment, supplement or waiver authorized
pursuant to this Article 9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment, supplement or waiver the Trustee shall
receive indemnity reasonably satisfactory to it and shall be provided with, and (subject to Section 7.01) shall be fully protected in conclusively relying upon, an Officer’s Certificate of the Issuers and an Opinion of Counsel stating that
such amendment, supplement or waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding obligation of the Issuers and the Guarantors, enforceable against them in accordance with
its terms, subject to customary exceptions, and complies with the provisions hereof (including Section 9.03). 
 SECTION 9.07
[Reserved]. 
 SECTION 9.08 Additional Voting Terms; Calculation of Principal Amount. Except as otherwise set forth
herein, all Securities issued under this Indenture shall vote and consent separately on all matters as to which any of such Securities may vote. Determinations as to whether Holders of the requisite aggregate principal amount of Securities have
concurred in any direction, waiver or consent shall be made in accordance with this Article 9 and Section 2.14. 

  
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 ARTICLE 10 

GUARANTEES 

SECTION 10.01 Guarantees. 

(a) Each Guarantor hereby jointly and severally, irrevocably and unconditionally guarantees on an unsecured basis, as a primary obligor and not
merely as a surety, to each Holder and the Trustee and their successors and assigns (i) the full and punctual payment when due, whether at maturity, by acceleration or otherwise, of all obligations of the Issuers under this Indenture (including
obligations to the Trustee) and the Securities, whether for payment of principal of, premium, if any, or interest on, if any, the Securities and all other monetary obligations of the Issuers under this Indenture and the Securities and (ii) the
full and punctual performance within applicable grace periods of all other obligations of the Issuers whether for fees, expenses, indemnification or otherwise under this Indenture and the Securities, on the terms set forth in this Indenture by
executing this Indenture (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). 
 Each
Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from each such Guarantor, and that each such Guarantor shall remain bound under this Article 10
notwithstanding any extension or renewal of any Guaranteed Obligation. 
 (b) Each Guarantor waives presentation to, demand of payment from
and protest to the Issuers of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. 

(c) Each Guarantor further agrees that its Guarantee herein constitutes a guarantee of payment, performance and compliance when due (and not a
guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 

(d) Except as expressly set forth in Sections 8.01(b), 10.02 and 10.06, the obligations of each Guarantor hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by
reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. 
 (e) Subject to Section 10.02
hereof, each Guarantor agrees that its Guarantee shall remain in full force and effect until payment in full of all the Guaranteed Obligations. Each Guarantor further agrees that its Guarantee herein shall continue to be effective or be reinstated,
as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the Issuers or
otherwise. 

  
 113 

 (f) In furtherance of the foregoing and not in limitation of any other right which any Holder or
the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of an Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration,
by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Trustee an
amount equal to the sum of (i) the unpaid principal amount of such Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by applicable law) and (iii) all other
monetary obligations of the Issuers to the Trustee. 
 (g) Each Guarantor agrees that it shall not be entitled to any right of subrogation in
relation to the Trustee in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the one hand, and the Trustee, on the other hand,
(i) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in
respect of the Guaranteed Obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article 6, such Guaranteed Obligations (whether or not due and payable) shall
forthwith become due and payable by such Guarantor for the purposes of this Section 10.01. 
 (h) Each Guarantor also agrees to pay any
and all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under this Section 10.01. 

Each Guarantor shall promptly execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper
to carry out more effectively the purpose of this Indenture. 
 SECTION 10.02 Limitation on Liability. Each Subsidiary
Guarantor, and by its acceptance of Securities, each Holder, hereby confirms that it is the intention of all such parties that the Guarantee of such Subsidiary Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy
Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Subsidiary
Guarantors hereby irrevocably agree that, any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Subsidiary Guarantor shall not exceed the
maximum amount that can be hereby guaranteed without rendering this Indenture, as it relates to such Subsidiary Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of
creditors generally. Each Subsidiary Guarantor that makes a payment under its Guarantee shall be entitled upon payment in full of all Guaranteed Obligations under this Indenture to a contribution from each other Subsidiary Guarantor in an amount
equal to such other Subsidiary Guarantor’s pro rata portion of such payment based on the respective net assets of all the Subsidiary Guarantors at the time of such payment determined in accordance with GAAP. 

  
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 SECTION 10.03 Releases. 

(a) A Guarantee as to any Subsidiary Guarantor shall be automatically and unconditionally released and discharged upon: 

(i) (a) any sale, exchange, disposition or transfer (including through consolidation, merger or otherwise) of (x) the
Capital Stock of such Subsidiary Guarantor, after which such Subsidiary Guarantor is no longer a Restricted Subsidiary, or (y) all or substantially all the assets of such Subsidiary Guarantor, which sale, exchange, disposition or transfer in
each case is made in compliance with Section 4.06(a)(i) and (ii); (b) the release, discharge or termination of the guarantee by such Subsidiary Guarantor of the Senior Credit Facilities, except a release, discharge or termination by or as a result
of payment under such guarantee; (c) the permitted designation of any Restricted Subsidiary that is a Subsidiary Guarantor as an Unrestricted Subsidiary; (d) upon the consolidation or merger of any Subsidiary Guarantor with and into an
Issuer or another Subsidiary Guarantor that is the surviving Person in such consolidation or merger, or upon the liquidation of such Subsidiary Guarantor following the transfer of all of its assets to an Issuer or another Subsidiary Guarantor; or
(e) the Issuers exercising their legal defeasance option or covenant defeasance option as described under Article 8 or the Issuers’ obligations under this Indenture being discharged in accordance with the terms of this Indenture; and 

(ii) the Issuers delivering to the Trustee an Officer’s Certificate of such Guarantor or the Issuers and an Opinion of
Counsel, each stating that all conditions precedent provided for in this Indenture relating to such transaction have been complied with. 

SECTION 10.04 Successors and Assigns. This Article 10 shall be binding upon each Guarantor and its successors and assigns and
shall inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and
in the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. 

SECTION 10.05 No Waiver. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right,
power or privilege under this Article 10 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and
the Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article 10 at law, in equity, by statute or otherwise. 

  
 115 

 SECTION 10.06 Modification. No modification, amendment or waiver of any provision of
this Article 10, nor the consent to any departure by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand in the same, similar or other circumstances. 

SECTION 10.07 Execution of Supplemental Indenture for Future Guarantors. Each Restricted Subsidiary which is required to become a
Guarantor pursuant to Section 4.11 shall promptly execute and deliver to the Trustee a supplemental indenture in the form of Exhibit C pursuant to which such Subsidiary or other Person shall become a Guarantor under this Article 10 and
shall guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Issuers shall deliver to the Trustee an Opinion of Counsel and an Officer’s Certificate of the Issuers to the effect
that such supplemental indenture has been duly authorized, executed and delivered by such Restricted Subsidiary and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other similar laws
relating to creditors’ rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Guarantor is a valid and binding obligation of such Guarantor, enforceable against such
Guarantor in accordance with its terms. 
 SECTION 10.08 Non-Impairment. The failure to
endorse a Guarantee on any Security shall not affect or impair the validity thereof. 
 SECTION 10.09 Benefits Acknowledged.
Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and that the guarantee and waivers made by it pursuant to its Guarantee are knowingly made in contemplation
of such benefits. 
 ARTICLE 11 

MISCELLANEOUS 

SECTION 11.01 Trust Indenture Act Controls. If and to the extent that any provision of this Indenture limits, qualifies or
conflicts with the duties imposed by, or with another provision (an “incorporated provision”) included in this Indenture by operation of, Sections 310 to 318 of the Trust Indenture Act, inclusive, such imposed duties or incorporated
provision shall control. 
 SECTION 11.02 Notices. 

(a) Any notice or communication by the Issuers, any Guarantor or the Trustee to the others is duly given if in writing and delivered in person,
via facsimile, mailed by first-class mail (registered or certified, return receipt requested) or overnight air courier guaranteeing next day delivery, to the addressed as follows: 

if to the Issuers or a Guarantor: 

  
 116 

 Eco Services Operations LLC 

8 Cedarbrook Drive 
 Cranbury, New
Jersey 08512 
 Attention: Director of Finance 

Facsimile: (609) 860-5448 

With a copy to (which copy shall not constitute notice): 

Weil, Gotshal & Manges LLP 

767 Fifth Avenue 
 New York, NY
10153 
 Attention: Heather Emmel, Esq. 

Facsimile: (212) 310-8007 

if to the Trustee: 
 Wilmington
Trust, National Association 
 Rodney Square North 

1100 North Market Street 

Wilmington, DE 19890 
 Attention:
Corporate Client Services 
 Facsimile: (302) 636-4149 

The Issuers, any Guarantor or the Trustee by notice to the others may designate additional or different addresses for subsequent notices or communications.

 All notices and communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand, if personally
delivered; five (5) Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air
courier guaranteeing next day delivery. 
 (b) Any notice or communication mailed to a Holder shall be delivered electronically or mailed,
first class mail (certified or registered, return receipt requested), by overnight air courier guaranteeing next day delivery or emailed to the Holder at the Holder’s address as it appears on the registration books of the Registrar and shall be
sufficiently given if so mailed or sent within the time prescribed. 
 (c) Failure to mail a notice or communication to a Holder or any
defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 

Notwithstanding any other provision of this Indenture or any Security, where this Indenture or any Security provides for notice of any event
(including any notice of redemption) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary for such Security (or its designee) pursuant to the standing instructions from
the Depositary (or its designee), including by electronic mail in accordance with accepted practices at the Depositary. 

  
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 Notwithstanding the foregoing, any notices or communications given to the Trustee shall be deemed
effective only upon receipt by the Trustee at its Corporate Trust Office. 
 The Trustee shall have the right, but shall not be required, to
rely upon and comply with instructions and directions sent by e-mail, facsimile and other similar unsecured electronic methods believed by it to be genuine by persons believed by the Trustee to be authorized
to give instructions and directions on behalf of the Issuers or any Holder. The Issuers agree to assume all risks arising out of interception and misuse by third-parties of such instructions or directions sent by
e-mail, facsimile or other similar unsecured electronic methods. 
 SECTION 11.03
Communication by the Holders with Other Holders. The Holders may communicate pursuant to Section 312(b) of the Trust Indenture Act with other Holders with respect to their rights under this Indenture or the Securities. The Issuers, the
Guarantors, the Trustee, the Registrar and other Persons shall have the protection of Section 312(c) of the Trust Indenture Act. 

SECTION 11.04 Certificate and Opinion as to Conditions Precedent. Upon any request or application by an Issuer or any Guarantor to
the Trustee to take or refrain from taking any action under this Indenture, such Issuer or such Guarantor shall furnish to the Trustee: 

(a) an Officer’s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the signers, all conditions
precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
 (b) an Opinion of Counsel
in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 

SECTION 11.05 Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a
covenant or condition provided for in this Indenture (other than pursuant to Section 4.09) shall include: 
 (a) a statement that the
individual making such certificate or opinion has read such covenant or condition; 
 (b) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (c) a statement
that, in the opinion of such individual, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with (and, in the
case of an Opinion of Counsel, may be limited to reliance on an officer’s certificate as to matters of fact); and 
 (d) a statement as
to whether or not, in the opinion of such individual, such covenant or condition has been complied with; provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officer’s Certificate or
certificates of public officials. 

  
 118 

 SECTION 11.06 When Securities Disregarded. In determining whether the Holders of the
required principal amount of Securities have concurred in any direction, waiver or consent, Securities owned by an Issuer, any Guarantor or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control
with the Issuers or any Guarantor shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which a
Trust Officer of the Trustee actually knows are so owned shall be so disregarded. Securities so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s
right to deliver any such direction, waiver or consent with respect to the Securities and that the pledgee is not an Issuer, any Guarantor or any Person directly or indirectly controlling or controlled by or under direct or indirect common control
with the Issuers or any Guarantor. Subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. 

SECTION 11.07 Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by or a meeting of
the Holders. The Registrar and a Paying Agent may make reasonable rules for their functions. 
 SECTION 11.08 Legal Holidays. If
a payment date is not a Business Day, payment shall be made on the next succeeding day that is a Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such payment date if it were a Business Day for the
intervening period. If a regular record date is not a Business Day, the record date shall not be affected. 
 SECTION 11.09
GOVERNING LAW; WAIVER OF JURY TRIAL. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING, WITHOUT LIMITATION, SECTION
5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW OR ANY SUCCESSOR TO SUCH STATUTE), WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE ISSUERS, THE GUARANTORS AND THE TRUSTEE, AND EACH HOLDER OF A
SECURITY BY ITS ACCEPTANCE THEREOF, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE
TRANSACTION CONTEMPLATED HEREBY. 
 SECTION 11.10 No Recourse Against Others. No past, present or future director, officer,
employee, manager, incorporator, member, partner or stockholder of an Issuer or any Guarantor or any of their Subsidiaries or direct or indirect parent companies shall have any liability for any obligations of an Issuer or any Guarantor under the
Securities, the Guarantees or this Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the Securities. 
 SECTION 11.11 Successors. All agreements of each Issuer
and each Guarantor in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successors. 

  
 119 

 SECTION 11.12 Multiple Originals. The parties may sign any number of copies of this
Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. The exchange of copies of this Indenture and of signature pages by facsimile or email (in PDF
format or otherwise) transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by
facsimile or email (in PDF format or otherwise) shall be deemed to be their original signatures for all purposes. 
 SECTION 11.13
Table of Contents; Headings. The table of contents, cross-reference sheet and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part of this
Indenture and shall not modify or restrict any of the terms or provisions of this Indenture. 
 SECTION 11.14 Indenture
Controls. If and to the extent that any provision of the Securities limits, qualifies or conflicts with a provision of this Indenture, such provision of this Indenture shall control. 

SECTION 11.15 Severability. In case any provision in this Indenture shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such invalidity, illegality or unenforceability. 

SECTION 11.16 Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of
its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 SECTION 11.17 U.S.A.
Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to
obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. 

SECTION 11.18 No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret any other indenture, loan
or debt agreement of the Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

  
 120 

 IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date
first written above. 
  

			
	Very truly yours,
	
	ECO SERVICES OPERATIONS, LLC
	as an Issuer
		
	By:	 	 /s/ Mark McFadden

		 	Name: Mark McFadden
		 	Title: Vice President and Secretary
	
	ECO FINANCE CORP.
	as Co-Issuer
		
	By:	 	 /s/ Mark McFadden

		 	Name: Mark McFadden
		 	Title: Vice President and Secretary

 [Signature Page to Indenture] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Joshua C. Jones

		 	Name: Joshua C. Jones
		 	Title: Assistant Vice President

 [Signature Page to Indenture] 

 APPENDIX A 

PROVISIONS RELATING TO ORIGINAL SECURITIES AND ADDITIONAL SECURITIES 

1. Definitions. 
 1.1
Definitions. 
 For the purposes of this Appendix A the following terms shall have the meanings indicated below: 

“Definitive Security” means a certificated Security (bearing the Restricted Securities Legend if the transfer of such Security is
restricted by applicable law) that does not include the Global Securities Legend. 
 “Depository” means The Depository Trust
Company, its nominees and their respective successors. 
 “Global Securities Legend” means the legend set forth under that caption
in the applicable Exhibit to this Indenture. 
 “IAI” means an institutional “accredited investor” as described in Rule
501(a)(1), (2), (3) or (7) under the Securities Act. 
 “Initial Purchasers” means Credit Suisse Securities (USA) LLC,
Jefferies LLC, Citigroup Global Markets Inc. and KeyBanc Capital Markets Inc. as initial purchasers under the Purchase Agreement entered into in connection with the offer and sale of the Securities. 

“Purchase Agreement” means (a) the Purchase Agreement dated October 9, 2014, among the Company, the Co-Issuer and the representatives of the Initial Purchasers and (b) any other similar Purchase Agreement relating to Additional Securities. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Regulation S” means Regulation S under the Securities Act. 

“Regulation S Securities” means all Securities offered and sold outside the United States in reliance on Regulation S. 

“Restricted Global Security” means Global Securities and any other Securities that bear or are required to bear or are subject to
the Restricted Securities Legend. 
 “Restricted Period,” with respect to any Securities, means the period of 40 consecutive days
beginning on and including the later of (a) the day on which such Securities are first offered to persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S, notice of which day shall be
promptly given by the Issuers to the Trustee, and (b) the Issue Date, and with respect to any Additional Securities that are Transfer Restricted Securities, it means the comparable period of 40 consecutive days. 

  
 Appendix A-1 

 “Restricted Securities Legend” means the legend set forth in Section 2.2(f)(i) herein.

 “Rule 144A” means Rule 144A under the Securities Act. 

“Rule 144A Securities” means all Securities offered and sold to QIBs in reliance on Rule 144A. 

“Rule 501” means Rule 501(a)(1), (2), (3) or (7) under the Securities Act. 

“Securities Custodian” means the custodian with respect to a Global Security (as appointed by the Depository) or any successor
person thereto, who shall initially be the Trustee. 
 “Transfer Restricted Securities” means Definitive Securities and any other
Securities that bear or are required to bear or are subject to the Restricted Securities Legend. 
 “Unrestricted Definitive
Security” means Definitive Securities and any other Securities that are not required to bear, or are not subject to, the Restricted Securities Legend. 

“Unrestricted Global Security” means Global Securities and any other Securities that are not required to bear, or are not subject
to, the Restricted Securities Legend. 
 1.2 Other Definitions. 

 

			
	 Term:
	  	 Defined in Section:

	 Agent Members
	  	2.1(b)
	 Clearstream
	  	2.1(b)
	 Euroclear
	  	2.1(b)
	 Global Securities
	  	2.1(b)
	 Regulation S Global Securities
	  	2.1(b)
	 Regulation S Permanent Global Security
	  	2.1(b)
	 Regulation S Temporary Global Security
	  	2.1(b)
	 Rule 144A Global Securities
	  	2.1(b)

 2. The Securities. 

2.1 Form and Dating; Global Securities. 

(a) The Original Securities issued on the date hereof will be (i) offered and sold by the Issuers pursuant to the Purchase Agreement and
(ii) resold, initially only to (1) QIBs in reliance on Rule 144A and (2) Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S. Such Securities may thereafter be transferred to, among others, QIBs,
purchasers in reliance on Regulation S and, except as set forth below, IAIs in accordance with Rule 501. Additional Securities offered after the date hereof may be offered and sold by the Issuers from time to time pursuant to one or more purchase
agreements in accordance with applicable law. 

  
 Appendix A-2 

 (b) Global Securities. (i) Rule 144A Securities initially shall be represented by one
or more Securities in definitive, fully registered, global form without interest coupons (collectively, the “Rule 144A Global Securities”). 

Regulation S Securities initially shall be represented by one or more Securities in fully registered, global form without interest coupons
(collectively, the “Regulation S Temporary Global Security” and, together with the Regulation S Permanent Global Security (defined below), the “Regulation S Global Securities”), which shall be registered in the name of the
Depository or the nominee of the Depository for the accounts of designated agents holding on behalf of Euroclear Bank S.A./N.V., as operator of the Euroclear system (“Euroclear”) or Clearstream Banking, Société Anonyme
(“Clearstream”). 
 Following the termination of the Restricted Period, beneficial interests in the Regulation S Temporary Global
Security shall be exchanged for beneficial interests in a permanent Global Security (the “Regulation S Permanent Global Security”) pursuant to the applicable procedures of the Depository. Simultaneously with the authentication of the
Regulation S Permanent Global Security, the Trustee shall cancel the Regulation S Temporary Global Security. The aggregate principal amount of the Regulation S Temporary Global Security and the Regulation S Permanent Global Security may from time to
time be increased or decreased by adjustments made on the records of the Trustee and the Depository or its nominee, as the case may be, in connection with transfers of interest as hereinafter provided. 

The provisions of the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear”
and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream shall be applicable to transfers of beneficial interests in the Regulation S Temporary Global Security and the Regulation S
Permanent Global Security that are held by Participants through Euroclear or Clearstream. 
 The term “Global Securities” means
the Rule 144A Global Securities and the Regulation S Global Securities. The Global Securities shall bear the Global Security Legend. The Global Securities initially shall (i) be registered in the name of the Depository or the nominee of such
Depository, in each case for credit to an account of an Agent Member, (ii) be delivered to the Trustee as custodian for such Depository and (iii) bear the Restricted Securities Legend. 

Members of, or direct or indirect participants in, the Depository (“Agent Members”) shall have no rights under this Indenture with
respect to any Global Security held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Securities. The Depository may be treated by the Issuers, the Trustee and any agent of the Issuers or the Trustee as the
absolute owner of the Global Securities for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuers, the Trustee or any agent of the Issuers or the Trustee from giving effect to any written certification,
proxy or other authorization furnished by the Depository, or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. 

(ii) Transfers of Global Securities shall be limited to transfer in whole, but not in part, to the Depository, its successors or their
respective nominees. Interests of beneficial owners in the Global Securities may be transferred or exchanged for Definitive Securities only in 

  
 Appendix A-3 

 
accordance with the applicable rules and procedures of the Depository and the provisions of Section 2.2. In addition, a Global Security shall be exchangeable for Definitive Securities if
(x) the Depository (1) notifies the Issuers that it is unwilling or unable to continue as depository for such Global Security and the Issuers thereupon fail to appoint a successor depository within 90 days or (2) has ceased to be a
clearing agency registered under the Exchange Act, (y) the Issuers, at their option, notify the Trustee that they elect to cause the issuance of Definitive Securities or (z) there shall have occurred and be continuing an Event of Default
with respect to such Global Security and the Depositary shall have requested such exchange; provided that in no event shall the Regulation S Temporary Global Security be exchanged by the Issuers for Definitive Securities prior to (x) the
expiration of the Restricted Period and (y) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act. In all cases, Definitive Securities delivered in exchange for any Global Security
or beneficial interests therein shall be registered in the names, and issued in any approved denominations, requested by or on behalf of the Depository in accordance with its customary procedures. 

(iii) In connection with the transfer of a Global Security as an entirety to beneficial owners pursuant to subsection (i) of this Section
2.1(b), such Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Issuers shall execute, and the Trustee shall authenticate and make available for delivery, to each beneficial owner identified by the Depository
in writing in exchange for its beneficial interest in such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. 

(iv) Any Transfer Restricted Security delivered in exchange for an interest in a Global Security pursuant to Section 2.2 shall, except as
otherwise provided in Section 2.2, bear the Restricted Securities Legend. 
 (v) Notwithstanding the foregoing, through the Restricted
Period, a beneficial interest in such Regulation S Global Security may be held only through Euroclear or Clearstream unless delivery is made in accordance with the applicable provisions of Section 2.2. 

(vi) The Holder of any Global Security may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold
interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. 
 2.2
Transfer and Exchange. 
 (a) Transfer and Exchange of Global Securities. A Global Security may not be transferred as a whole
except as set forth in Section 2.1(b). Global Securities will not be exchanged by the Issuers for Definitive Securities except under the circumstances described in Section 2.1(b)(ii). Global Securities also may be exchanged or replaced, in whole or
in part, as provided in Sections 2.07 and 2.08 of this Indenture. Beneficial interests in a Global Security may be transferred and exchanged as provided in Section 2.2(b), 2.2(c) or 2.2(g). 

(b) Transfer and Exchange of Beneficial Interests in Global Securities. The transfer and exchange of beneficial interests in the Global
Securities shall be effected through the Depository, in accordance with the provisions of this Indenture and the applicable rules and procedures of the Depository. Beneficial interests in Restricted Global Securities shall be subject

  
 Appendix A-4 

 
to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Beneficial interests in Global Securities shall be transferred or exchanged only for
beneficial interests in Global Securities. Transfers and exchanges of beneficial interests in the Global Securities also shall require compliance with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other
following subparagraphs, as applicable: 
 (i) Transfer of Beneficial Interests in the Same Global Security.
Beneficial interests in any Restricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Security in accordance with the transfer restrictions set forth in the
Restricted Securities Legend; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Security may not be made to a U.S. Person or for the account or benefit
of a U.S. Person (other than an Initial Purchaser). A beneficial interest in an Unrestricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security. No written
orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.2(b)(i). 

(ii) All Other Transfers and Exchanges of Beneficial Interests in Global Securities. In connection with all transfers
and exchanges of beneficial interests in any Global Security that is not subject to Section 2.2(b)(i), the transferor of such beneficial interest must deliver to the Registrar (1) a written order from an Agent Member given to the Depository in
accordance with the applicable rules and procedures of the Depository directing the Depository to credit or cause to be credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be transferred or
exchanged and (2) instructions given in accordance with the applicable rules and procedures of the Depository containing information regarding the Agent Member account to be credited with such increase. Upon satisfaction of all of the
requirements for transfer or exchange of beneficial interests in Global Securities contained in this Indenture and the Securities or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global
Security pursuant to Section 2.2(g). 
 (iii) Transfer of Beneficial Interests to Another Restricted Global Security.
A beneficial interest in a Transfer Restricted Global Security may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Transfer Restricted Global Security if the transfer complies with the
requirements of Section 2.2(b)(ii) above and the Registrar receives the following: 
 (A) if the transferee will take
delivery in the form of a beneficial interest in a Rule 144A Global Security, then the transferor must deliver a certificate in the form attached to the applicable Security; and 

(B) if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Security, then the
transferor must deliver a certificate in the form attached to the applicable Security. 

  
 Appendix A-5 

 (iv) Transfer and Exchange of Beneficial Interests in a Transfer Restricted
Global Security for Beneficial Interests in an Unrestricted Global Security. A beneficial interest in a Transfer Restricted Global Security may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Security or
transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security if the exchange or transfer complies with the requirements of Section 2.2(b)(ii) above and the Registrar receives the
following: 
 (1) if the holder of such beneficial interest in a Restricted Global Security proposes to exchange such
beneficial interest for a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security; or 

(2) if the holder of such beneficial interest in a Restricted Global Security proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security, 

and, in each such case, if the Issuers so request or if the applicable rules and procedures of the Depository so require, an Opinion of Counsel
in form reasonably acceptable to the Issuers to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend are no longer required
in order to maintain compliance with the Securities Act. If any such transfer or exchange is effected pursuant to this subparagraph (iv) at a time when an Unrestricted Global Security has not yet been issued, the Issuers shall issue and, upon
receipt of an Authentication Order, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred or exchanged pursuant to this
subparagraph (iv). 
 (v) Transfer and Exchange of Beneficial Interests in an Unrestricted Global Security for Beneficial
Interests in a Restricted Global Security. Beneficial interests in an Unrestricted Global Security cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global
Security. 
 (c) Transfer and Exchange of Beneficial Interests in Global Securities for Definitive Securities. A beneficial interest
in a Global Security may not be exchanged for a Definitive Security except under the circumstances described in Section 2.1(b)(ii). A beneficial interest in a Global Security may not be transferred to a Person who takes delivery thereof in the form
of a Definitive Security except under the circumstances described in Section 2.1(b)(ii). In any case, beneficial interests in Global Securities shall be transferred or exchanged only for Definitive Securities. 

(d) Transfer and Exchange of Definitive Securities for Beneficial Interests in Global Securities. Transfers and exchanges of beneficial
interests in the Global Securities also shall require compliance with either subparagraph (i), (ii), (iii) or (iv) below, as applicable: 

  
 Appendix A-6 

 (i) Transfer Restricted Securities to Beneficial Interests in Restricted
Global Securities. If any Holder of a Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in a Restricted Global Security or to transfer such Transfer Restricted Security to a Person who
takes delivery thereof in the form of a beneficial interest in a Restricted Global Security, then, upon receipt by the Registrar of the following documentation: 

(A) if the Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial
interest in a Restricted Global Security, a certificate from such Holder in the form attached to the applicable Security; 

(B) if such Transfer Restricted Security is being transferred to a Qualified Institutional Buyer in accordance with Rule 144A
under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; 
 (C) if such
Transfer Restricted Security is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 under the Securities Act, a certificate from such Holder in the form
attached to the applicable Security; 
 (D) if such Transfer Restricted Security is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; 

(E) if such Transfer Restricted Security is being transferred to an Institutional Accredited Investor in reliance on an
exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate from such Holder in the form attached to the applicable Security, including the certifications,
certificates and Opinion of Counsel, if applicable; or 
 (F) if such Transfer Restricted Security is being transferred to
the Issuers or a Subsidiary thereof, a certificate from such Holder in the form attached to the applicable Security; 
 the Trustee shall
cancel the Transfer Restricted Security, and increase or cause to be increased the aggregate principal amount of the appropriate Restricted Global Security. 

(ii) Transfer Restricted Securities to Beneficial Interests in Unrestricted Global Securities. A Holder of a Transfer
Restricted Security may exchange such Transfer Restricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Transfer Restricted Security to a Person who takes delivery thereof in the form of a
beneficial interest in an Unrestricted Global Security only if the Registrar receives the following: 

  
 Appendix A-7 

 (1) if the Holder of such Transfer Restricted Security proposes to exchange such
Transfer Restricted Security for a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security; or 

(2) if the Holder of such Transfer Restricted Securities proposes to transfer such Transfer Restricted Security to a Person who
shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security, 

and, in each such case, if the Issuers so request or if the applicable rules and procedures of the Depository so require, an Opinion of Counsel
in form reasonably acceptable to the Issuers to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend are no longer required
in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of this subparagraph (ii), the Trustee shall cancel the Transfer Restricted Securities and increase or cause to be increased the aggregate principal amount
of the Unrestricted Global Security. If any such transfer or exchange is effected pursuant to this subparagraph (ii) at a time when an Unrestricted Global Security has not yet been issued, the Issuers shall issue and, upon receipt of an
Authentication Order, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of Transfer Restricted Securities transferred or exchanged pursuant to this
subparagraph (ii). 
 (iii) Unrestricted Definitive Securities to Beneficial Interests in Unrestricted Global
Securities. A Holder of an Unrestricted Definitive Security may exchange such Unrestricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Unrestricted Definitive Security to a Person who takes
delivery thereof in the form of a beneficial interest in an Unrestricted Global Security at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Security and increase
or cause to be increased the aggregate principal amount of one of the Unrestricted Global Securities. If any such transfer or exchange is effected pursuant to this subparagraph (iii) at a time when an Unrestricted Global Security has not yet
been issued, the Issuers shall issue and, upon receipt of an Authentication Order, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of Unrestricted
Definitive Securities transferred or exchanged pursuant to this subparagraph (iii). 
 (iv) Unrestricted Definitive
Securities to Beneficial Interests in Restricted Global Securities. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a beneficial interest in a Restricted Global
Security. 
 (e) Transfer and Exchange of Definitive Securities for Definitive Securities. Upon request by a Holder of Definitive
Securities and such Holder’s compliance with the provisions of this Section 2.2(e), the Registrar shall register the transfer or exchange of Definitive Securities. 

  
 Appendix A-8 

 
Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Securities duly endorsed or accompanied by a written
instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and information, as
applicable, required pursuant to the following provisions of this Section 2.2(e). 
 (i) Transfer Restricted Securities to
Transfer Restricted Securities. A Transfer Restricted Security may be transferred to and registered in the name of a Person who takes delivery thereof in the form of a Transfer Restricted Security if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor must deliver a certificate
in the form attached to the applicable Security; 
 (B) if the transfer will be made pursuant to Rule 903 or Rule 904 under
the Securities Act, then the transferor must deliver a certificate in the form attached to the applicable Security; 
 (C) if
the transfer will be made pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate in the form attached to the applicable Security; 

(D) if the transfer will be made to an IAI in reliance on an exemption from the registration requirements of the Securities Act
other than those listed in subparagraphs (A) through (C) above, a certificate in the form attached to the applicable Security; and 

(E) if such transfer will be made to the Issuers or a Subsidiary thereof, a certificate in the form attached to the applicable
Security. 
 (ii) Transfer Restricted Securities to Unrestricted Definitive Securities. Any Transfer Restricted
Security may be exchanged by the Holder thereof for an Unrestricted Definitive Security or transferred to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security only if the Registrar receives the following: 

(A) if the Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for an
Unrestricted Definitive Security, a certificate from such Holder in the form attached to the applicable Security; or 
 (B)
if the Holder of such Transfer Restricted Security proposes to transfer such Securities to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Security, a certificate from such Holder in the form attached to the
applicable Security, 

  
 Appendix A-9 

 and, in each such case, if the Issuers so request, an Opinion of Counsel in form reasonably
acceptable to the Issuers to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend are no longer required in order to
maintain compliance with the Securities Act. 
 (iii) Unrestricted Definitive Securities to Unrestricted Definitive
Securities. A Holder of an Unrestricted Definitive Security may transfer such Unrestricted Definitive Securities to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security at any time. Upon receipt of a request to
register such a transfer, the Registrar shall register the Unrestricted Definitive Securities pursuant to the instructions from the Holder thereof. 

(iv) Unrestricted Definitive Securities to Transfer Restricted Securities. An Unrestricted Definitive Security cannot be
exchanged for, or transferred to a Person who takes delivery thereof in the form of, a Transfer Restricted Security. 
 At such time as all
beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or
retained and canceled by the Trustee in accordance with Section 2.11. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form
of a beneficial interest in another Global Security or for Definitive Securities, the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the
Trustee or by the Depository at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Security, such other Global Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

(c) Legend. 

(i) Except as permitted by the following paragraph (ii), each Security certificate evidencing the Global Securities and the
Definitive Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the legend only): 

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), IT IS NOT A U.S. PERSON AND IS ACQUIRING 

  
 Appendix A-10 

 
THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT OR (C) IT IS AN ACCREDITED INVESTOR (AS DEFINED IN RULE 501(a)(1), (2), (3), OR (7) UNDER
THE SECURITIES ACT (AN “ACCREDITED INVESTOR”)), (2) AGREES THAT IT WILL NOT WITHIN ONE YEAR AFTER THE ORIGINAL ISSUANCE OF THIS SECURITY RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF,
(B) INSIDE THE UNITED STATES TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) INSIDE THE UNITED STATES TO AN ACCREDITED INVESTOR THAT, PRIOR TO SUCH TRANSFER, FURNISHES (OR HAS FURNISHED ON ITS
BEHALF BY A U.S. BROKER-DEALER) TO THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER OF THIS SECURITY (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE TRUSTEE FOR THIS SECURITY),
(D) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT (IF AVAILABLE), (E) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (F) IN
ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), OR (G) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
(3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. IN CONNECTION WITH ANY TRANSFER OF THIS SECURITY WITHIN ONE YEAR AFTER THE ORIGINAL ISSUANCE OF THIS SECURITY,
IF THE PROPOSED TRANSFEREE IS AN ACCREDITED INVESTOR, THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE AND THE ISSUERS SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS ANY OF THEM MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH
TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S.
PERSON” HAVE THE MEANING GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. 
 BY ITS PURCHASE OR ACQUISITION OF THIS NOTE, THE
HOLDER REPRESENTS AND AGREES THAT (1) IT IS NOT AND WILL NOT BE ACQUIRING THE NOTE FOR OR ON BEHALF OF ANY PERSON WHO IS OR WILL BE (OR IS OR WILL BE DEEMED FOR PURPOSES OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”) OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) TO BE) (A) AN “EMPLOYEE BENEFIT PLAN” (AS DEFINED UNDER SECTION 3(3) OF ERISA), (B) A PLAN SUBJECT TO SECTION 4975 OF THE CODE
OR PROVISIONS UNDER APPLICABLE FEDERAL, STATE, LOCAL, 

  
 Appendix A-11 

 
NON¬U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR (C) AN ENTITY, THE UNDERLYING ASSETS OF WHICH ARE CONSIDERED
TO INCLUDE “PLAN ASSETS” OF ANY OF THE FOREGOING BY REASON OF AN EMPLOYEE BENEFIT PLAN OR PLAN’S INVESTMENT IN SUCH ENTITY; OR (2) THE PURCHASE AND HOLDING OF THIS NOTE DOES NOT AND WILL NOT CONSTITUTE OR INVOLVE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR, IF APPLICABLE, A VIOLATION OF SIMILAR LAWS.” 

Each Temporary Regulation S Security shall bear the following additional legend: 

“THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE
U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT.” 

Each Global Security shall bear the following additional legends: 

“UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 
 “TRANSFERS OF THIS GLOBAL SECURITY SHALL
BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.” 

  
 Appendix A-12 

 (ii) Upon any sale or transfer of a Transfer Restricted Security that is a
Definitive Security, the Registrar shall permit the Holder thereof to exchange such Transfer Restricted Security for a Definitive Security that does not bear the legends set forth above and rescind any restriction on the transfer of such Transfer
Restricted Security if the Holder certifies in writing to the Registrar that its request for such exchange was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Security). 

(iii) Upon a sale or transfer after the expiration of the Restricted Period of any Security acquired pursuant to Regulation S,
all requirements that such Security bear the Restricted Securities Legend shall cease to apply and the requirements requiring any such Security be issued in global form shall continue to apply. 

(iv) Any Additional Securities sold in a registered offering shall not be required to bear the Restricted Securities Legend.

 (g) Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a particular Global Security have
been exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with
Section 2.11 of this Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Security or for Definitive Securities, the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the
direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other Global
Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

(h) Obligations with Respect to Transfers and Exchanges of Securities. 

(i) To permit registrations of transfers and exchanges, the Issuers shall execute and the Trustee shall authenticate,
Definitive Securities and Global Securities at the Registrar’s request. 
 (ii) No service charge shall be made for any
registration of transfer or exchange, but the Issuers may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or
similar governmental charge payable upon exchanges pursuant to Sections 3.06, 4.06, 4.08 and 9.05 of this Indenture). 

(iii) Prior to the due presentation for registration of transfer of any Security, the Issuers, the Trustee, a Paying Agent or
the Registrar may deem and treat the person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest on such Security and for all other purposes whatsoever,
whether or not such Security is overdue, and none of the Issuers, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. 

  
 Appendix A-13 

 (iv) All Securities issued upon any transfer or exchange pursuant to the terms of
this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. 

(i) No Obligation of the Trustee. 

(i) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Security, a member of, or a
participant in the Depository or any other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof, with respect to any ownership interest in the Securities or with respect to the
delivery to any participant, member, beneficial owner or other Person (other than the Depository) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under or with respect to such Securities. All notices
and communications to be given to the Holders and all payments to be made to the Holders under the Securities shall be given or made only to the registered Holders (which shall be the Depository or its nominee in the case of a Global Security). The
rights of beneficial owners in any Global Security shall be exercised only through the Depository subject to the applicable rules and procedures of the Depository. The Trustee may conclusively rely and shall be fully protected in so relying upon
information furnished by the Depository with respect to its members, participants and any beneficial owners. 
 (ii) The
Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including
any transfers between or among Depository participants, members or beneficial owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and
when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

  
 Appendix A-14 

 EXHIBIT A 

[FORM OF FACE OF SECURITY] 

[Global Securities Legend] 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED
TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 [Restricted Securities Legend] 

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT OR (C) IT IS AN ACCREDITED
INVESTOR (AS DEFINED IN RULE 501(a)(1), (2), (3), OR (7) UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR” )),(2) AGREES THAT IT WILL NOT WITHIN ONE YEAR AFTER THE ORIGINAL ISSUANCE OF THIS SECURITY RESELL OR OTHERWISE TRANSFER THIS
SECURITY EXCEPT (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) INSIDE THE UNITED STATES TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) INSIDE THE UNITED STATES TO AN ACCREDITED
INVESTOR THAT, PRIOR TO SUCH TRANSFER, FURNISHES (OR HAS FURNISHED ON ITS BEHALF BY A U.S. BROKER-DEALER) TO THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER OF THIS SECURITY (THE
FORM OF WHICH LETTER CAN BE OBTAINED 

  
 A-1 

 
FROM THE TRUSTEE FOR THIS SECURITY), (D) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT (IF AVAILABLE), (E) PURSUANT TO THE EXEMPTION
FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (F) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), OR
(G) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. IN CONNECTION WITH ANY
TRANSFER OF THIS SECURITY WITHIN ONE YEAR AFTER THE ORIGINAL ISSUANCE OF THIS SECURITY, IF THE PROPOSED TRANSFEREE IS AN ACCREDITED INVESTOR, THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE AND THE ISSUERS SUCH CERTIFICATIONS, LEGAL
OPINIONS OR OTHER INFORMATION AS ANY OF THEM MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. AS USED HEREIN,
THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANING GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. 

BY ITS PURCHASE OR ACQUISITION OF THIS NOTE, THE HOLDER REPRESENTS AND AGREES THAT (1) IT IS NOT AND WILL NOT BE ACQUIRING THE NOTE FOR
OR ON BEHALF OF ANY PERSON WHO IS OR WILL BE (OR IS OR WILL BE DEEMED FOR PURPOSES OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”) TO BE) (A) AN “EMPLOYEE BENEFIT PLAN” (AS DEFINED UNDER SECTION 3(3) OF ERISA), (B) A PLAN SUBJECT TO SECTION 4975 OF THE CODE OR PROVISIONS UNDER APPLICABLE FEDERAL, STATE, LOCAL,
NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR (C) AN ENTITY, THE UNDERLYING ASSETS OF WHICH ARE CONSIDERED TO INCLUDE
“PLAN ASSETS” OF ANY OF THE FOREGOING BY REASON OF AN EMPLOYEE BENEFIT PLAN OR PLAN’S INVESTMENT IN SUCH ENTITY; OR (2) THE PURCHASE AND HOLDING OF THIS NOTE DOES NOT AND WILL NOT CONSTITUTE OR INVOLVE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR, IF APPLICABLE, A VIOLATION OF SIMILAR LAWS.” 

Each Temporary Regulation S Security shall bear the following additional legend: 

“THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE
U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN

  
 A-2 

 
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE
SECURITIES ACT.” 

  
 A-3 

 [FORM OF SECURITY] 

No. $             

8.500% Senior Notes due 2022 

CUSIP No.             

ISIN No.              

ECO SERVICES OPERATIONS LLC, a Delaware limited liability company and ECO FINANCE CORP., a Delaware corporation, jointly and severally,
promise to pay to Cede & Co., or registered assigns, the principal sum of Dollars [, as the same may be revised from time to time on the Schedule of Increases or Decreases in Global Security attached hereto,]1 on November 1, 2022. 
 Interest Payment Dates: May 1 and November 1 

Record Dates: April 15 and October 15 

Additional provisions of this Security are set forth on the other side of this Security. 

 

	1 	Use the Schedule of Increases and Decreases language if Security is in Global Form. 

  
 A-4 

 IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. 

 

			
	ECO SERVICES OPERATIONS LLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	ECO FINANCE CORP.
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-5 

			
	TRUSTEE’S CERTIFICATE OF
	AUTHENTICATION
	
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

    as Trustee, certifies that this is one of

    the Securities referred to in the Indenture.

		
	By:	 	  

		 	Authorized Signatory

 Dated: 
  

	*/	If the Security is to be issued in global form, add the Global Securities Legend and the attachment from Exhibit A captioned “TO BE ATTACHED TO GLOBAL SECURITIES—SCHEDULE OF INCREASES OR DECREASES IN
GLOBAL SECURITY.” 

  
 A-6 

 [FORM OF REVERSE SIDE OF SECURITY] 

8.500% Senior Notes due 2022 

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

1. Interest 
 ECO SERVICES OPERATIONS LLC,
a Delaware limited liability company (the “Company”) and ECO FINANCE CORP., a Delaware corporation (the “Co-Issuer” and together with the Company, the “Issuers”), promise to pay
interest on the principal amount of this Security at the rate per annum shown above. The Issuers shall pay interest semiannually in arrears on May 1 and November 1 of each year, commencing May 1, 2015.2 Interest on the Securities shall accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid or duly provided for, October 24, 20143 until the principal hereof is due. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.
The Issuers shall pay interest on overdue principal at the rate borne by the Securities, and they shall pay interest on overdue installments of interest at the same rate to the extent lawful. 

2. Method of Payment 
 The Issuers shall
pay interest on the Securities (except defaulted interest) to the Persons who are registered Holders at the close of business on the April 15 and October 15 next preceding the interest payment date (whether or not a Business Day). Holders
must surrender Securities to the Paying Agent to collect principal payments. The Issuers shall pay principal, premium, if any, and interest in money of the United States of America that at the time of payment is legal tender for payment of public
and private debts. Payments in respect of the Securities represented by a Global Security (including principal, premium, if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by The Depository
Trust Company or any successor depositary. The Issuers shall make all payments in respect of a certificated Security (including principal, premium, if any, and interest) at the office of the Paying Agent, except that, at the option of the Issuers,
payment of interest may be made through the Paying Agent by mailing a check to the registered address of each Holder thereof; provided, however, that payments on the Securities may also be made, in the case of a Holder of at least
$1,000,000 aggregate principal amount of Securities, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or Paying
Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 

 
  

 

	2 	Note: With respect to the Original Securities. 

	3 	Note: With respect to the Original Securities. 

  
 A-7 

 3. Paying Agent and Registrar 

Initially, Wilmington Trust, National Association (the “Trustee”), will act as Paying Agent and Registrar. The Issuers may appoint
and change any Paying Agent or Registrar without notice. The Issuers or any of their domestically incorporated Wholly-Owned Subsidiaries may act as Paying Agent or Registrar. 

4. Indenture 
 The Issuers issued the
Securities under an Indenture dated as of October 24, 2014 (the “Indenture”), among the Company, the Co-Issuer, the Guarantors party thereto from time to time and the Trustee. The terms of the
Securities include those stated in the Indenture and those expressly made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “Trust
Indenture Act”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture, and the Holders are referred to the Indenture
and the Trust Indenture Act for a statement of such terms and provisions. 
 The Securities are senior unsecured obligations of the Issuers.
This Security is one of the Original Securities referred to in the Indenture. The Securities include the Original Securities and any Additional Securities. The Original Securities and any Additional Securities are treated as a single class of
securities under the Indenture. The Indenture imposes certain limitations on the ability of the Company and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other
distributions, incur Indebtedness, enter into consensual restrictions upon the payment of certain dividends and distributions by such Restricted Subsidiaries, issue or sell shares of capital stock of the Company and such Restricted Subsidiaries,
enter into or permit certain transactions with Affiliates, create or incur Liens and make Asset Sales. The Indenture also imposes limitations on the ability of the Company and each Guarantor to consolidate or merge with or into any other Person or
convey, transfer or lease all or substantially all of its property. 
 To guarantee the due and punctual payment of the principal and
interest on the Securities and all other amounts payable by the Issuers under the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Securities
and the Indenture, the Guarantors party to the Indenture from time to time will, jointly and severally, irrevocably and unconditionally guarantee the Guaranteed Obligations on a senior unsecured basis pursuant to the terms of the Indenture. 

5. Redemption 
 Optional Redemption

 Except as set forth in the following paragraphs, the Securities shall not be redeemable at the option of the Issuers prior to
November 1, 2017. 

  
 A-8 

 (a) At any time prior to November 1, 2017, the Issuers may redeem all or a part of the
Securities, at their option, at any time or from time to time, upon not less than 30 nor more than 60 days’ prior notice mailed by first class mail to each Holder’s registered address or otherwise delivered in accordance with the
procedures of the Depositary, at a redemption price equal to 100% of the principal amount of the Securities redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to, but not including, the applicable redemption date
(subject to the rights of Holders of record at the close of business on the relevant record date to receive interest due on the relevant interest payment date falling prior to or on the redemption date). 

(b) On and after November 1, 2017, the Issuers may redeem the Securities, at their option, in whole at any time or in part from time to
time, upon not less than 30 nor more than 60 days’ prior notice, mailed by first class mail to each Holder’s registered address or otherwise delivered in accordance with the procedures of the Depositary, at the redemption prices (expressed
as percentages of principal amount of the Securities to be redeemed) set forth below, plus accrued and unpaid interest thereon, if any, to, but not including, the applicable redemption date, subject to the right of Holders of record at the close of
business on the relevant record date to receive interest due on the relevant interest payment date falling prior to or on the redemption date, if redeemed during the twelve-month period beginning on November 1 of each of the years indicated
below: 
  

					
	 Year
	  	Redemption Price	 
	 2017
	  	 	104.250	% 
	 2018
	  	 	102.125	% 
	 2019 and thereafter
	  	 	100.000	% 

 (c) In addition, until November 1, 2017, the Issuers may, at their option, on one or more occasions
redeem up to 40% of the aggregate principal amount of the Securities (including any Additional Securities) at a redemption price equal to 108.500% of the aggregate principal amount thereof, plus accrued and unpaid interest thereon, if any, to, but
not including, the applicable redemption date, subject to the right of Holders of record at the close of business on the relevant record date to receive interest due on the relevant interest payment date falling prior to or on the redemption date,
with the net cash proceeds of one or more Equity Offerings; provided, that at least 50% of the sum of the aggregate principal amount of the Securities originally issued under the Indenture and any Additional Securities must remain outstanding
immediately after the occurrence of each such redemption; provided further, that each such redemption shall occur within 90 days of the date of closing of each such Equity Offering upon not less than 30 nor more than 60 days’
notice sent to each Holder of Securities being redeemed and otherwise in accordance with the procedures set forth in the Indenture. 
 (d)
Notice of any redemption described above may be given prior to the completion of such Equity Offering, and any such redemption or notice may, at the Issuers’ discretion, be subject to one or more conditions precedent, including, but not limited
to, completion of the relevant Equity Offering, other offering or other transaction or event. In addition, if such redemption is subject to satisfaction of one or more conditions precedent, such notice shall describe each such condition and, if
applicable, shall state that, in the Issuers’ discretion, the Redemption Date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be rescinded in the event that
any or all such conditions shall not have been satisfied by the Redemption Date, or by the Redemption Date as so delayed. 

  
 A-9 

 Special Mandatory Redemption 

If the Escrow Agent shall not have received the Officer’s Certificate described in Section 4.15(b) of the Indenture, on or prior to
January 30, 2015, or if the Company notifies the Escrow Agent in writing that it will not pursue the consummation of the Acquisition, or that the Transaction Agreement shall have been amended, modified or waived in a manner that would be
materially adverse to the Company and its Subsidiaries (after giving effect to the Acquisition), taken as a whole, or to the Holders, as determined in good faith by the Company, the Escrow Agent shall, without the requirement of notice to or action
by the Company, the Trustee or any other Person, release the Escrowed Property (including investment earnings) to the Trustee (the date of such termination, the “Escrow Termination Date”) and the Trustee shall draw on the full amount of
the Escrow Letter of Credit. On the day falling five (5) Business Days after the Escrow Termination Date (the “Special Mandatory Redemption Date”), the Securities will be redeemed (the “Special Mandatory Redemption”) at a
redemption price equal to 100% of the initial issue price plus accrued and unpaid interest to, but not including, the Special Mandatory Redemption Date. The Issuers shall deliver to the Trustee and DTC, no later than the date that is five
(5) Business Days prior to the Special Mandatory Redemption Date, a redemption notice setting forth the Special Mandatory Redemption Date. Promptly after the Special Mandatory Redemption Date, the Trustee will pay to the Company any amount held
in excess of the amount necessary to effect the Special Mandatory Redemption. 
 6. Sinking Fund 

The Securities are not subject to any sinking fund. 

7. Notice of Redemption 
 Notice of
redemption pursuant to Paragraph 5 above will be mailed by first-class mail or otherwise delivered in accordance with the procedures of the Depositary, at least 30 days but not more than 60 days before the redemption date to each Holder of
Securities to be redeemed at his, her or its registered address except that such notice of redemption may be mailed or otherwise delivered in accordance with the procedures of the Depositary at least five (5) Business Days prior to the
redemption date if the redemption is occurring pursuant to the Special Mandatory Redemption provision set forth in Paragraph 5 above. Securities in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000. If
money sufficient to pay the redemption price of and accrued and unpaid interest on all Securities (or portions thereof) to be redeemed on the redemption date is deposited with a Paying Agent on or before the redemption date and certain other
conditions are satisfied, on and after such date, interest ceases to accrue on such Securities (or such portions thereof) called for redemption. 
 8.
Repurchase of Securities at the Option of the Holders upon Change of Control and Asset Sales 
 Upon the occurrence of a Change of
Control, each Holder shall have the right, subject to certain conditions specified in the Indenture, to cause the Issuers to repurchase all or any part of such Holder’s Securities at a purchase price in cash equal to 101% of the principal
amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of the Holders of record of the Securities at the close of business on the relevant record date to receive interest due on the relevant
interest payment date), as provided in, and subject to the terms of, the Indenture. 

  
 A-10 

 In accordance with Section 4.06 of the Indenture, the Issuers will be required to offer to
purchase Securities upon the occurrence of certain events. 
 9. Denominations; Transfer; Exchange 

The Securities are in registered form, without coupons, in denominations of $2,000 and any integral multiple of $1,000. A Holder shall register
the transfer of or exchange of Securities in accordance with the Indenture. Upon any registration of transfer or exchange, the Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements or transfer
documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion
of the Security not to be redeemed) or to transfer or exchange any Securities for a period of 15 days prior to the mailing of a notice of redemption of Securities to be redeemed. 

10. Persons Deemed Owners 
 The registered
Holder of this Security shall be treated as the owner of it for all purposes. 
 11. Unclaimed Money 

If money for the payment of principal or interest remains unclaimed for two years, the Trustee and a Paying Agent shall pay the money back to
the Issuers at their written request unless an abandoned property law designates another Person. After any such payment, the Holders entitled to the money must look to the Issuers for payment as general creditors and the Trustee and a Paying Agent
shall have no further liability with respect to such monies. 
 12. Discharge and Defeasance 

Subject to certain conditions and as set forth in the Indenture, the Issuers at any time may terminate some of or all of their obligations
under the Securities and the Indenture if the Issuers deposit with the Trustee money or Government Securities for the payment of principal and interest on the Securities to redemption or maturity, as the case may be. 

13. Amendment; Waiver 
 Subject to certain
exceptions set forth in the Indenture, (i) the Indenture, or the Securities may be amended with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities (voting as a single class) and
(ii) any past default or compliance with any provisions may be waived with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities. Subject to certain exceptions set forth in the Indenture,
without the consent of any Holder, the Issuers and the Trustee may amend the Indenture or the Securities (i) to cure any ambiguity, omission, mistake, defect or inconsistency as certified by the Issuers; (ii) to provide for uncertificated
Securities of such series 

  
 A-11 

 
in addition to or in place of certificated Securities; (iii) to comply with the covenant relating to mergers, consolidations and sales of assets; (iv) to provide for the assumption of
the Issuers’ or any Guarantor’s obligations to the Holders in a transaction that complies with the Indenture; (v) to make any change that would provide any additional rights or benefits to the Holders or that does not adversely affect
the legal rights under the Indenture of any such Holder; (vi) to add covenants for the benefit of the Holders or to surrender any right or power conferred upon the Issuers or any Guarantor; (vii) to comply with requirements of the SEC in
order to effect or maintain the qualification of the Indenture under the Trust Indenture Act; (viii) to evidence and provide for the acceptance and appointment under the Indenture of a successor Trustee thereunder pursuant to the requirements
thereof; (ix) to provide for the issuance of exchange notes or private exchange notes, which are identical to exchange notes except that they are not freely transferable; (x) to add a Guarantor under the Indenture or to release a Guarantor
in accordance with the terms of the Indenture and to provide for any local law restrictions required by the jurisdiction of organization of such Guarantor; (xi) to conform the text of the Indenture, the Guarantees or the Securities to any
provision of the Offering Circular under the caption “Description of Notes” to the extent that such provision in the “Description of Notes” was intended to be a verbatim recitation of a provision of the Indenture,
the Guarantees or the Securities as certified by the Issuers; (xii) to make certain changes to the Indenture to provide for the issuance of Additional Securities; or (xiii) to make any amendment to the provisions of the Indenture relating
to the transfer and legending of Securities as permitted by the Indenture, including, without limitation to facilitate the issuance of the Securities and administration of the Indenture; provided, however, that (i) compliance with
the Indenture as so amended would not result in Securities being transferred in violation of the Securities Act or any applicable securities law and (ii) such amendment does not materially and adversely affect the rights of Holders to transfer
Securities. 
 14. Defaults and Remedies 

If an Event of Default (other than a Default relating to certain events of bankruptcy, insolvency or reorganization of the Company) occurs and
is continuing, the Trustee or the Holders of at least 30% in principal amount of outstanding Securities by notice to the Issuers, may declare the principal of, premium, if any, interest and any other monetary obligations on all the Securities to be
due and payable immediately. Upon such a declaration, such principal and interest shall be due and payable immediately. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company occurs, the
principal of, premium, if any, and interest on all the Securities shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in
principal amount of outstanding Securities may rescind any such acceleration with respect to the Securities and its consequences. 
 If an
Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee
indemnity or security satisfactory to it against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the
Securities unless (i) such Holder has previously given the Trustee written notice that an Event of Default is continuing, (ii) the Holders of at least 30% in principal amount 

  
 A-12 

 
of the outstanding Securities have requested the Trustee, in writing, to pursue the remedy, (iii) such Holders have offered the Trustee security or indemnity satisfactory to it against any
loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in principal amount of the outstanding
Securities have not given the Trustee a written direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the
outstanding Securities are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to
follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability. Prior to taking any action under the
Indenture, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses that may be caused by taking or not taking such action. 

The Issuers are required to deliver to the Trustee, annually, a certificate indicating whether the signer thereof knows of any Default that
occurred during the previous year. 
 15. Trustee Dealings with the Issuers 

Subject to certain limitations imposed by the Trust Indenture Act, the Trustee under the Indenture, in its individual or any other capacity,
may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Issuers or their Affiliates and may otherwise deal with the Issuers or their Affiliates with the same rights it would have if it were
not Trustee. 
 16. No Recourse Against Others 

No past, present or future director, officer, employee, manager, incorporator, member, partner or stockholder of an Issuer or any Guarantor or
any of their Subsidiaries or direct or indirect parent companies shall have any liability for any obligations of the Issuers or the Guarantors under the Securities, the Guarantees or the Indenture or for any claim based on, in respect of, or by
reason of such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. The waiver may not be
effective to waive liabilities under the federal securities laws. 
 17. Authentication 

This Security shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually signs the certificate of
authentication on the other side of this Security. 
 18. Abbreviations 

Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the
entireties), JT TEN (joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

  
 A-13 

 19. Governing Law 

THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF
CONFLICTS OF LAW. 
 20. CUSIP Numbers; ISINs 

The Issuers have caused CUSIP numbers and ISINs to be printed on the Securities and has directed the Trustee to use CUSIP numbers and ISINs in
notices of redemption as a convenience to the Holders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as contained in any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon. 
 The Issuers will furnish to any Holder of Securities upon written request and without charge to
the Holder a copy of the Indenture which has in it the text of this Security. 

  
 A-14 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  
  

(Print or type assignee’s name, address and zip code) 
  

 
 (Insert assignee’s soc. sec. or
tax identification No.) 
 and irrevocably appoint __________ as agent to transfer this Security on the books of the Issuers. The agent may substitute
another to act for him. 
  

			
	 Date: _______________________
	  	 Your Signature: _________________

  
  

Sign exactly as your name appears on the other side of this Security. 
  

			
	 Signature Guarantee: ___________
	  	 Signature of Signature Guarantee: ___________

 Date: _________________ 

Signature must be guaranteed by a participant in 
 a recognized
signature guaranty medallion program 
 or other signature guarantor program reasonably 

acceptable to the Trustee 

  
 A-15 

 ECO SERVICES OPERATIONS LLC 

8 Cedarbrook Drive 
 Cranbury, NJ 08512 

Attention: Director of Finance 
 Facsimile: (609) 860-5448 
 Wilmington Trust, National Association 

Rodney Square North 
 1100 North Market Street 

Wilmington, DE 19890 
 Attention: Corporate Client Services 

Facsimilie: (302) 636-4149 

CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFER RESTRICTED SECURITIES 

This certificate relates to $             principal amount of Securities held in (check applicable
space)         book entry or          definitive form by the undersigned. 

The undersigned (check one box below): 
  

	☐	has requested the Trustee by written order to deliver in exchange for its beneficial interest in the Global Security held by the Depository a Security or Securities in definitive, registered form of authorized
denominations and an aggregate principal amount equal to its beneficial interest in such Global Security (or the portion thereof indicated above); 

  

	☐	has requested the Trustee by written order to exchange or register the transfer of a Security or Securities. 

In connection with any transfer of any of the Securities evidenced by this certificate occurring prior to the expiration of the period referred to in Rule
144(k) under the Securities Act, the undersigned confirms that such Securities are being transferred in accordance with its terms: 
 CHECK ONE BOX BELOW

  

					
	(1)	  	☐	  	to the Issuers or subsidiary thereof; or
			
	(2)	  	☐	  	to the Registrar for registration in the name of the Holder, without transfer; or
			
	(3)	  	☐	  	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to whom
notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or

  
 A-16 

 
					
	(4)	  	☐	  	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933 and such Security shall be held immediately after the
transfer through Euroclear or Clearstream until the expiration of the Restricted Period (as defined in the Indenture); or
			
	(5)	  	☐	  	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations and
agreements in the form attached as Exhibit B to the Indenture; or
			
	(6)	  	☐	  	pursuant to another available exemption from registration provided by Rule 144 under the Securities Act of 1933.

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities evidenced by this
certificate in the name of any Person other than the registered Holder thereof; provided, however, that if box (4), (5) or (6) is checked, the Issuers or the Trustee may require, prior to registering any such transfer of the
Securities, such legal opinions, certifications and other information as the Issuers or the Trustee have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933. 
  

			
	Date:                                     
            	  	Your
Signature:                                       
          
	Signature Guarantee:                       	  	Signature of Signature Guarantee:                     

Date:                         
                          

Signature must be guaranteed by a participant ina recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable
to the Trustee 
 TO BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it
has received such information regarding the Issuers as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s foregoing
representations in order to claim the exemption from registration provided by Rule 144A. 
  

			
	Date:                                     
                	  	  

		  	NOTICE: To be executed by an executive officer

  
 A-17 

 [TO BE ATTACHED TO GLOBAL SECURITIES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The initial principal amount of this Global Security is $            . The
following increases or decreases in this Global Security have been made: 
  

									
	 Date of Exchange
	  	 Amount of decrease in
Principal Amount of this
Global
Security
	  	 Amount of increase in
Principal Amount of this
Global
Security
	  	 Principal amount of this
Global Security following
such
decrease or increase
	  	 Signature of authorized
signatory of Trustee or
Securities
Custodian

  
 A-18 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Issuers pursuant to Section 4.06 (Asset Sale Offer) or 4.08 (Change of
Control Offer) of the Indenture, check the box: 
 Asset
Sale  ☐                                     
        Change of Control  ☐ 
 If you want to elect to have only part of this Security
purchased by the Issuers pursuant to Section 4.06 (Asset Sale Offer) or 4.08 (Change of Control Offer) of the Indenture, state the amount ($2,000 or any integral multiple of $1,000): 

$ 
  

			
	Date:                                     
            	  	Your
Signature:                                       
          
	Signature Guarantee:                       	  	(Sign exactly as your name appears on the other side of this Security)

 Signature
Guarantee:                        

Signature must be guaranteed by a participant in 
 a recognized
signature guaranty medallion program 
 or other signature guarantor program reasonably 

acceptable to the Trustee 

  
 A-19 

 EXHIBIT B 

[FORM OF] 
 TRANSFEREE LETTER OF
REPRESENTATION 
 Wilmington Trust, National Association 

Rodney Square North 
 1100 North Market Street 

Wilmington, DE 19890 
 Attention: Corporate Client Services 

Facsimilie: (302) 636-4149 

This certificate is delivered to request a transfer of $[    ] principal amount of the 8.500% Senior Notes due 2022 (the
“Securities”) of ECO SERVICES OPERATIONS LLC, a Delaware limited liability company (the “Company”) and ECO FINANCE CORP., a Delaware corporation (the “Co-Issuer” and together with
the Company, the “Issuers”). 
 Upon transfer, the Securities would be registered in the name of the new beneficial owner as follows: 

Name:                         
                          

Address:                        
                       
 Taxpayer ID
Number:                          

The undersigned represents and warrants to you that: 

(1) We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of
1933, as amended (the “Securities Act”)), purchasing for our own account or for the account of such an institutional “accredited investor” at least $100,000 principal amount of the Securities, and we are acquiring the Securities
not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our
investment in the Securities, and we invest in or purchase securities similar to the Securities in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our or its investment.

 (2) We understand that the Securities have not been registered under the Securities Act and, unless so registered, may not be sold except
as permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Securities to offer, sell or otherwise transfer such Securities prior to the date that is two years after the later
of the date of original issue and the last date on which the Issuers or any affiliate of such Issuers was the owner of such Securities (or any predecessor thereto) (the “Resale Restriction Termination Date”) only (a) in the United
States to a person whom we reasonably believe is a qualified institutional buyer (as defined in Rule 144A under the Securities Act) in a transaction meeting the requirements of Rule 144A, (b) outside the United States in an offshore transaction
in accordance with Rule 904 of Regulation S under the Securities Act, (c) pursuant to an exemption from registration under the Securities Act provided by Rule 144 thereunder (if 

  
 B-1 

 
applicable) or (d) pursuant to an effective registration statement under the Securities Act, in each of cases (a) through (d) in accordance with any applicable securities laws of any
state of the United States. In addition, we will, and each subsequent holder is required to, notify any purchaser of the Security evidenced hereby of the resale restrictions set forth above. The foregoing restrictions on resale will not apply
subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Securities is proposed to be made to an institutional “accredited investor” prior to the Resale Restriction Termination Date, the transferor
shall deliver a letter from the transferee substantially in the form of this letter to the Issuers and the Trustee, which shall provide, among other things, that the transferee is an institutional “accredited investor” within the meaning
of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Securities for investment purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Issuers and the
Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the Securities pursuant to clause 2(b), 2(c) or 2(d) above to require the delivery of an opinion of counsel, certifications or
other information satisfactory to the Issuers and the Trustee. 
 Dated:
                             

TRANSFEREE:                    
                  

By:                      
                                    

  
 B-2 

 EXHIBIT C 

[FORM OF SUPPLEMENTAL INDENTURE]4 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of [     ], among the new guarantors named in
the signature pages hereto (the “Guarantors”)5 and Wilmington Trust, National Association, as trustee (the “Trustee”) under the Indenture dated as of October 24, 2014
among ECO SERVICES OPERATIONS LLC, a Delaware limited liability company (the “Company”) and ECO FINANCE CORP., a Delaware corporation (the “Co-Issuer” and together with the Company, the
“Issuers”) and the Trustee (as amended, supplemented or otherwise modified, the “Indenture”). 
  

W I T N E S S E T H : 
 WHEREAS
the Issuers have heretofore executed and delivered to the Trustee the Indenture, providing initially for the issuance of $200,000,000 in aggregate principal amount of the Issuers’ 8.500% Senior Notes due 2022 (the “Securities”); 

WHEREAS Sections 4.11 and 10.07 of the Indenture provide that under certain circumstances the Issuers are required to cause the Guarantors to
execute and deliver to the Trustee a supplemental indenture pursuant to which the Guarantors shall unconditionally guarantee all the Issuers’ Obligations under the Securities and the Indenture pursuant to a Guarantee on the terms and conditions
set forth herein; and 
 WHEREAS pursuant to Section 9.01 of the Indenture, the Trustee and the Issuers are authorized to execute and
deliver this Supplemental Indenture; 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the Guarantors, the Issuers and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

1. Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital hereto are used
herein as therein defined, except that the term “Holders” in this Guarantee shall refer to the term “Holders” as defined in the Indenture and the Trustee acting on behalf of and for the benefit of such Holders. The words
“herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. 

2. Guarantee. The Guarantors hereby, jointly and severally with all existing Guarantors (if any), irrevocably and unconditionally
guarantee the Issuers’ Obligations under the Securities and the Indenture on the terms and subject to the conditions set forth in the Indenture, including, but not limited to, Article 10 of the Indenture, and to be bound by all other applicable
provisions of the Indenture and the Securities and to perform all of the obligations and agreements of a Guarantor under the Indenture. 
  

 
  

	4 	May include any relevant local law restrictions. 

	5 	 It shall not be required that any existing guarantors be party to a supplemental indenture to add new guarantors.

  
 C-1 

 3. Releases. A Guarantee as to any Guarantor shall terminate and be of no further force or
effect and such Guarantor shall be deemed to be released from all obligations as provided in Section 10.03 of the Indenture. 
 4.
Notices. All notices or other communications to the Guarantors shall be given as provided in Section 11.02 of the Indenture. 

5. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended and supplemented hereby, the
Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of
Securities heretofore or hereafter authenticated and delivered shall be bound hereby. 
 6. No Recourse Against Others. No past,
present or future director, officer, employee, manager, incorporator, agent or holder of any Equity Interests in the Issuers or of the Guarantors or any direct or indirect parent corporation, as such, shall have any liability for any obligations of
the Issuers and the Guarantors under the Securities, the Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a
Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. The waiver may not be effective to waive liabilities under the federal securities laws. 

7. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE NEW GUARANTOR AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS SUPPLEMENTAL INDENTURE, THE INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY. 
 8. Trustee Makes No
Representation. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 
 9. Multiple
Originals. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Supplemental Indenture.
The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or email (in PDF format or otherwise) shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used
in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or email (in PDF format or otherwise) shall be deemed to be their original signatures for all purposes. 

  
 C-2 

 10. Effect of Headings. The Section headings herein are for convenience only and shall not
affect the construction thereof. 
 11. The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect
of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals or statements contained herein, all of which recitals and statements are made solely by the Guarantors. 

12. Successors. All agreements of the Guarantors in this Supplemental Indenture shall bind its successors. All agreements of the Trustee
in this Indenture shall bind its successors. 

  
 C-3 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. 
  

			
	[NEW GUARANTOR]
		
	By:	 	  

		 	Name:
		 	Title:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 C-4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00272-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00272-of-00352.parquet"}]]