Document:

EX-10.1

 Exhibit 10.1 

CBS OUTDOOR AMERICAS CAPITAL LLC and 

CBS OUTDOOR AMERICAS CAPITAL CORPORATION, 

wholly owned subsidiaries of 
 CBS
OUTDOOR AMERICAS INC. 
 $150,000,000 5.250% Senior Notes due 2022 

$450,000,000 5.875% Senior Notes due 2025 

REGISTRATION RIGHTS AGREEMENT 

October 1, 2014 
 Wells Fargo Securities, LLC

 Goldman, Sachs & Co. 
 As Representatives of the
Initial Purchasers 
  

	c/o	Wells Fargo Securities, LLC 

 375 Park Avenue, 4th Floor 

New York, New York 10152 

Goldman, Sachs & Co. 
 200
West Street 
 New York, New York 10282 

Ladies and Gentlemen: 
 CBS Outdoor Americas
Capital LLC, a Delaware limited liability company (“Finance LLC”), and CBS Outdoor Americas Capital Corporation, a Delaware corporation (“Finance Corp.” and together with Finance LLC, the
“Issuers”), propose to issue and sell to the several parties named in Schedule I to the Purchase Agreement (as defined below) (the “Initial Purchasers”) for whom you are acting as representatives,
$150,000,000 principal amount of their 5.250% Senior Notes due 2022 (the “New 2022 Notes”) and $450,000,000 principal amount of their 5.875% Senior Notes due 2025 (the “2025 Notes” and together with
the New 2022 Notes, the “Notes”), upon the terms and conditions set forth in the Purchase Agreement, dated September 16, 2014, among the Issuers, CBS Outdoor Americas Inc. (the “Parent”), the
other Guarantors (as defined below) named therein and you (the “Purchase Agreement”) relating to the initial placement (the “Initial Placement”) of the Securities (as defined below). The New 2022 Notes
are additional notes issued under the same indenture under which the Issuers previously issued and sold $400,000,000 aggregate principal amount of 5.250% Senior Notes due 2022 (the “Existing 2022 Notes” and, together with the
New 2022 Notes, the “2022 Notes”). The Notes will be guaranteed on an unsecured senior basis (the “Guarantees,” together with the Notes, the “Securities”) by the Parent and
certain of the Parent’s direct and indirect wholly owned subsidiaries (collectively, the “Guarantors”). To induce you to enter into the Purchase Agreement and to satisfy a condition to your obligations thereunder, the
Issuers and the Guarantors agree with you for your benefit and the benefit of the holders from time to time of the Securities (including the Initial Purchasers) (each a “Holder” and, collectively, the
“Holders”), as follows: 

 1. Definitions. Capitalized terms used herein without definition shall have their
respective meanings set forth in the Purchase Agreement. As used in this Registration Rights Agreement (this “Agreement”), the following capitalized terms shall have the following meanings: 

“Additional Interest” shall have the meaning set forth in Section 8 hereof. 

“Affiliate” shall have the meaning specified in Rule 405 under the Securities Act and the terms
“controlling” and “controlled” shall have meanings correlative thereto. 
 “Broker-Dealer” shall
mean any broker or dealer registered as such under the Exchange Act. 
 “Business Day” shall mean any day other than
a Saturday, a Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized or obligated by law to remain closed in New York City. 

“Closing Date” shall have the meaning given to it in the Purchase Agreement. 

“Commission” shall mean the Securities and Exchange Commission. 

“Deferral Period” shall have the meaning indicated in Section 4(j)(ii) hereof. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the
Commission promulgated thereunder. 
 “Exchange Offer Completion Deadline” shall mean the 30th Business Day
following the Exchange Offer Effectiveness Deadline. 
 “Exchange Offer Effectiveness Deadline” shall mean the 365th
day after the Closing Date (or if such day is not a Business Day, the next succeeding Business Day). 
 “Exchange Offer
Registration Period” shall mean the 120-day period following the consummation of the Registered Exchange Offer, exclusive of any period during which any stop order shall be in effect suspending the effectiveness of the Exchange Offer
Registration Statement. 
 “Exchange Offer Registration Statement” shall mean one or more registration statements of
the Issuers and the Guarantors on an appropriate form under the Securities Act with respect to a Registered Exchange Offer, all amendments and supplements to such registration statement, including post-effective amendments thereto, in each case
including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 

“Exchanging Dealer” shall mean any Holder (which may include the Initial Purchasers) that is a Broker-Dealer and
elects to exchange for New Securities any Securities that it acquired for its own account as a result of market-making activities or other trading activities (but not directly from the Issuers or any Affiliate of the Issuers). 

“Final Offering Memorandum” shall mean the offering memorandum, dated September 16, 2014, relating to the
Securities. 
 “FINRA” shall mean the Financial Industry Regulatory Authority, Inc. 

  
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 “Holder” shall have the meaning set forth in the preamble hereto. 

“Indenture” shall mean, collectively, (i) the indenture, dated as of January 31, 2014, (ii) the
supplemental indenture, dated as of the date hereof, supplementing the indenture dated as of January 31, 2014 and relating to the New 2022 Notes and the related guarantees and (iii) the indenture, dated as of the date hereof, relating to
the 2025 Notes and related guarantees, in each case among the Issuers, the Guarantors and Deutsche Bank Trust Company Americas, as trustee and as may be amended from time to time in accordance with the terms thereof. 

“Initial Placement” shall have the meaning set forth in the preamble hereto. 

“Initial Purchasers” shall have the meaning set forth in the preamble hereto. 

“Losses” shall have the meaning set forth in Section 6(e) hereof. 

“Majority Holders” shall mean, on any date, Holders of a majority of the aggregate principal amount of Securities
outstanding and registered under a Registration Statement. 
 “Managing Underwriters” shall mean the investment bank
or investment banks and manager or managers that administer an underwritten offering, if any, under a Registration Statement. 

“New Securities” shall mean debt securities and related guarantees of the Issuers and the Guarantors evidencing the
same continuing indebtedness as the applicable Securities and identical in all material respects to such Securities (except that the transfer restrictions shall be modified or eliminated, as appropriate and no Additional Interest shall apply
thereto) to be issued under the Indenture. 
 “Prospectus” shall mean the prospectus included in any Registration
Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Securities or the New Securities covered by such Registration Statement, and all amendments and supplements thereto, including any and all
exhibits thereto and any information incorporated by reference therein. 
 “Purchase Agreement” shall have the
meaning set forth in the preamble hereto. 
 “Registered Exchange Offer” shall mean the proposed offer of the
Issuers and the Guarantors to issue and deliver to the Holders of the New 2022 Notes and related Guarantees and/or the 2025 Notes and related Guarantees that are not prohibited by any law or policy of the Commission from participating in such offer,
in exchange for the Securities, a like aggregate principal amount of the applicable New Securities evidencing the same continuing indebtedness. 

“Registrable Securities” shall mean the Securities; provided that the Securities shall cease to be Registrable
Securities: (i) when a Registration Statement with respect to such Securities has become effective under the Securities Act and such Securities have been exchanged or disposed of pursuant to such Registration Statement, (ii) when such
Securities may be sold pursuant to Rule 144 under the Securities Act (or any successor rule or regulation thereto that may be adopted by the Commission) without regard to any volume or manner of sale limitations, provided that the Company shall have
removed or caused to be removed any restrictive legend on the Securities, (iii) when such Securities cease to be outstanding, (iv) except in the case of Securities that otherwise remain Registrable Securities and that are held by the
Initial Purchasers and that are ineligible to be exchanged in the Exchange Offer, when the Exchange Offer is consummated, and (v) on the second anniversary of this Agreement. 

  
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 “Registration Default” shall have the meaning set forth in Section 8
hereof. 
 “Registration Expenses” shall have the meaning set forth in Section 5 hereof. 

“Registration Statement” shall mean any Exchange Offer Registration Statement or Shelf Registration Statement that
covers any of the Securities or the New Securities pursuant to the provisions of this Agreement, any amendments and supplements to such registration statement, including post-effective amendments (in each case including the Prospectus contained
therein), all exhibits thereto and all material incorporated by reference therein. 
 “Securities” shall have the
meaning set forth in the preamble hereto. 
 “Securities Act” shall mean the Securities Act of 1933, as amended, and
the rules and regulations of the Commission promulgated thereunder. 
 “Shelf Effectiveness Deadline” shall have the
meaning set forth in Section 3(b). 
 “Shelf Registration” shall mean a registration effected pursuant to
Section 3 hereof. 
 “Shelf Registration Period” has the meaning set forth in Section 3(b)(ii) hereof.

 “Shelf Registration Statement” shall mean a “shelf” registration statement of the Issuers and the
Guarantors pursuant to the provisions of Section 3 hereof which covers some or all of the Securities or New Securities, as applicable, on an appropriate form under Rule 415 under the Securities Act, or any similar rule that may be adopted
by the Commission, amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all material
incorporated by reference therein. 
 “Trustee” shall mean the trustee with respect to the Securities under the
Indenture. 
 “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the rules and
regulations of the Commission promulgated thereunder. 
 “Underwriter” shall mean any underwriter of Securities in
connection with an offering thereof under a Shelf Registration Statement. 
 2. Registered Exchange Offer. (a) To the extent not
prohibited by any applicable law or applicable interpretation of the staff of the Commission, the Issuers shall prepare and file with the Commission the Exchange Offer Registration Statement with respect to the Registered Exchange Offer. The Issuers
and the Guarantors shall use their commercially reasonable best efforts to cause each Exchange Offer Registration Statement to become effective under the Securities Act no later than the Exchange Offer Effectiveness Deadline. The Issuers and the
Guarantors shall use their commercially reasonable best efforts to cause the exchange of the Securities no later than the Exchange Offer Completion Deadline. 

(b) Upon the effectiveness of an Exchange Offer Registration Statement, the Issuers and the Guarantors shall promptly commence the Registered
Exchange Offer for the applicable Securities relating to such Exchange Offer Registration Statement, it being the objective of such Registered 

  
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Exchange Offer to provide to each Holder the ability to exchange such Securities for New Securities (assuming that such Holder (i) is not an Affiliate of the Issuers, (ii) acquires the
New Securities in the ordinary course of such Holder’s business, (iii) is not engaged in, does not intend to engage in, and has no arrangements or understanding with any person to participate in, the distribution of the New Securities,
(iv) is not an Initial Purchaser holding the Securities that have the status of an unsold allotment remaining from the initial distribution of the Securities, and (v) is not otherwise prohibited by any law or policy of the Commission from
participating in the Registered Exchange Offer) issued in a registered offering. 
 (c) In connection with the Registered Exchange Offer,
the Issuers and the Guarantors shall use their commercially reasonable best efforts to: 
 (i) mail or cause to be mailed to
each Holder a copy of the Prospectus forming part of the applicable Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents; 

(ii) keep the Registered Exchange Offer open for not less than 20 Business Days and not more than 30 Business Days after the
date notice thereof is mailed to the Holders (or, in each case, longer if required by applicable law); 
 (iii) keep each
Exchange Offer Registration Statement continuously effective under the Securities Act, supplemented and amended as required under the Securities Act, to ensure that it is available for sales of New Securities by Exchanging Dealers for a period
ending on the earlier of (A) the last day of the Exchange Offer Registration Period and (B) the date on which an Exchanging Dealer is no longer required to deliver a prospectus in connection with market-making or other trading activities;

 (iv) utilize the services of a depositary for the Registered Exchange Offer, which may be the Trustee or an Affiliate of
the Trustee; 
 (v) permit Holders to withdraw tendered Securities at any time prior to the close of business, New York time,
on the last Business Day on which the Registered Exchange Offer is open; 
 (vi) prior to effectiveness of an Exchange Offer
Registration Statement, provide a supplemental letter to the Commission (A) stating that the Issuers and the Guarantors are conducting the Registered Exchange Offer in reliance on the position of the Commission in Exxon Capital Holdings
Corporation (pub. avail. May 13, 1988) and Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991), as interpreted by Shearman & Sterling LLP (pub. avail. July 2, 1993); and (B) including a
representation that the Issuers and the Guarantors have not entered into any arrangement or understanding with any person to distribute the New Securities to be received in the Registered Exchange Offer and that, to the best of the Issuers’ and
the Guarantors’ information and belief, each Holder participating in the Registered Exchange Offer is acquiring the New Securities in the ordinary course of business and has no arrangement or understanding with any person to participate in the
distribution of the New Securities; and 
 (vii) comply in all material respects with all applicable laws in connection with
the Registered Exchange Offer. 
 (d) As soon as practicable after the close of the Registered Exchange Offer, the Issuers and the
Guarantors shall: 
 (i) accept for exchange all Securities tendered and not validly withdrawn pursuant to the Registered
Exchange Offer; 

  
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 (ii) deliver or cause to be delivered to the Trustee for cancellation in
accordance with Section 4(r) all Securities so accepted for exchange; and 
 (iii) cause the Trustee promptly to
authenticate and deliver to each Holder of Securities a principal amount of New Securities equal to the principal amount of the Securities of such Holder so accepted for exchange; provided that, in the case of any Securities held in global form by a
depository, authentication and delivery to such depository of one or more replacement Securities in global form in an equivalent principal amount thereto for the account of such Holders in accordance with the Indenture shall satisfy such
authentication and delivery requirement. 
 (e) Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder using
the Registered Exchange Offer to participate in a distribution of the New Securities (x) cannot under Commission policy as in effect on the date of this Agreement rely on the position of the Commission in Exxon Capital Holdings
Corporation (pub. avail. May 13, 1988) and Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991), as interpreted in the Commission’s letter to Shearman & Sterling (pub. avail. July 2, 1993) and
similar no-action letters; and (y) must comply with the registration and prospectus delivery requirements of the Securities Act in connection with any secondary resale transaction, which must be covered by an effective registration statement
containing the selling security holder information required by Item 507 or 508, as applicable, of Regulation S-K or any successor provisions under the Securities Act if the resales are of New Securities obtained by such Holder in exchange for
Securities acquired by such Holder directly from the Issuers, the Guarantors or one of their Affiliates. Accordingly, each Holder participating in the Registered Exchange Offer shall be required to represent to the Issuers and the Guarantors in
writing (which may be contained in the applicable letter of transmittal) that, at the time of the consummation of the Registered Exchange Offer: 

(i) any New Securities received by such Holder will be acquired in the ordinary course of business; 

(ii) such Holder is not engaged in, does not intend to engage in and does not and will not have any arrangement or
understanding with any person to participate in the distribution of the Securities or the New Securities within the meaning of the Securities Act; 

(iii) such Holder is not an Affiliate of the Issuers; and 

(iv) if such Holder is an Exchanging Dealer, then such Holder will comply with the applicable provisions of the Securities Act
(including, but not limited to, the Prospectus delivery requirement thereunder) in connection with a sale of any Securities received by such Holder pursuant to the Registered Exchange Offer. 

(f) If the Initial Purchasers determine that they are not eligible to participate in the Registered Exchange Offer with respect to the
exchange of Securities constituting any portion of an unsold allotment, at the written request of the Initial Purchasers, the Issuers and the Guarantors shall issue and deliver to the Initial Purchasers or the person purchasing New Securities
registered under a Shelf Registration Statement as contemplated by Section 3 hereof from the Initial Purchasers, in exchange for such Securities, a like principal amount of New Securities. The Issuers and the Guarantors shall use their
commercially reasonable best efforts to cause the CUSIP Service Bureau to issue the same CUSIP number for such New Securities as for New Securities issued pursuant to the Registered Exchange Offer. 

  
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 (g) The Issuers and the Guarantors shall ensure that each Exchange Offer Registration Statement
and the related Prospectus and any amendment or supplement thereto, as of the effective date of such Exchange Offer Registration Statement or such amendment or supplement, (A) comply in all material respects with the applicable requirements of
the Securities Act; and (B) do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in the light
of the circumstances under which they were made) not misleading (it being understood that the Issuers and the Guarantors shall not be responsible for any information pertaining to any Holder provided by or on behalf of such Holder). 

3. Shelf Registration. (a) If (i) due to any change in law or applicable interpretations thereof by the Commission or its
staff, the Issuers and the Guarantors determine upon advice of counsel that they are not permitted to effect the Registered Exchange Offer as contemplated by Section 2 hereof with respect to some or all of the Securities; (ii) the
Registered Exchange Offer is not consummated within 30 Business Days of the date of the effectiveness of an Exchange Offer Registration Statement; (iii) prior to the 20th day following consummation of the Registered Exchange Offer (A) the
Initial Purchasers so request in writing with respect to Securities that are not eligible to be exchanged for New Securities in the Registered Exchange Offer and that are held by it following consummation of the Registered Exchange Offer, or
(B) any Holder (other than the Initial Purchasers) is not eligible to participate in the Registered Exchange Offer (other than by reason of such Holder being an Affiliate of the Issuers); or (iv) if the Initial Purchasers participate in
the Registered Exchange Offer or acquire New Securities pursuant to Section 2(f) hereof, and the Initial Purchasers do not receive freely tradable New Securities in exchange for Securities constituting any portion of an unsold allotment, the
Issuers and the Guarantors shall effect at their cost a Shelf Registration Statement in accordance with subsection (b) below. 
 (b)
(i) If obligated to file the Shelf Registration Statement, the Issuers and the Guarantors shall as promptly as reasonably practicable (or, in the case of a filing pursuant to Section 3(a)(i), prior to the Exchange Offer Effectiveness
Deadline), file with the Commission and shall use their commercially reasonable best efforts to cause to be declared effective under the Securities Act within 180 days (or if such day is not a Business Day, the next succeeding Business Day) after so
required or requested (the “Shelf Effectiveness Deadline”), a Shelf Registration Statement relating to the offer and sale of the Securities or the New Securities, as applicable, by the Holders thereof from time to time in
accordance with the methods of distribution elected by such Holders and set forth in such Shelf Registration Statement; provided, however, that no Holder (other than the Initial Purchasers) shall be entitled to have the Securities held by it
covered by such Shelf Registration Statement unless such Holder agrees in writing to be bound by all of the provisions of this Agreement applicable to such Holder (it being understood that the Company shall not be obligated to file a Shelf
Registration Statement pursuant to this Section 3 solely for the benefit of Holders who would have received freely transferable Securities pursuant to the Registered Exchange Offer had they not (A) failed to duly tender their Securities
for exchange pursuant to the Registered Exchange Offer, or otherwise failed to comply with the requirements of the Registered Exchange Offer as provided in Section 2 hereof or (B) failed to furnish to the Issuers and the Guarantors such
information as the Issuers and the Guarantors may request in writing in accordance with Section 4(o) in connection with a Shelf Registration Statement); and provided, further, that with respect to New Securities received by the Initial
Purchasers in exchange for Securities constituting any portion of an unsold allotment, the Issuers and the Guarantors may, if permitted by current interpretations by the Commission’s staff, file a post-effective amendment to any Exchange Offer
Registration Statement containing the information required by Item 507 or 508 of Regulation S-K, as applicable, in satisfaction of their obligations under this subsection with respect thereto, and any such

  
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Exchange Offer Registration Statement, as so amended, shall be referred to herein as, and governed by the provisions herein applicable to, a Shelf Registration Statement. Notwithstanding the
foregoing, the Issuers and the Guarantors may delay filing a Shelf Registration Statement, and any amendment thereto, and may withhold efforts to cause such Shelf Registration Statement, and any such amendment thereto, to become effective for a
period of up to 60 days, if the Issuers and Parent determine in good faith that such Shelf Registration Statement, and any such amendment thereto, might interfere with or affect the negotiation or completion of any transaction that is being
contemplated by Parent (whether or not a final decision has been made to undertake such transaction) at the time the right to delay is exercised; provided, however, that the Issuers may not exercise such right of delay or withholding
of efforts more frequently than two times in any 12-month period and the aggregate period of any such delays or withholdings shall not exceed 60 days in any such 12-month period. 

(ii) Subject to Section 4(c), the Issuers and the Guarantors shall use their commercially reasonable best efforts to keep
the Shelf Registration Statement continuously effective, supplemented and amended as required by the Securities Act, in order to permit the Prospectus forming part thereof to be usable by Holders for a period (the “Shelf Registration
Period”) from the date the Shelf Registration Statement is declared effective by the Commission until the earliest of (A) the first anniversary of the effective date of the Shelf Registration Statement or (B) the date upon
which all the Securities covered by the Shelf Registration Statement have been sold or distributed pursuant to the Shelf Registration Statement or have ceased to be Registrable Securities. 

(iii) The Issuers and the Guarantors shall cause the Shelf Registration Statement and the related Prospectus and any amendment
or supplement thereto, as of the effective date of the Shelf Registration Statement or such amendment or supplement, (A) to comply in all material respects with the applicable requirements of the Securities Act; and (B) not to contain any
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not
misleading (it being understood that the Issuers and the Guarantors shall not be responsible for any information pertaining to any Holder provided by or on behalf of such Holder). 

4. Additional Registration Procedures. In connection with any Shelf Registration Statement and, to the extent applicable, any Exchange
Offer Registration Statement, the following provisions shall apply. 
 (a) The Issuers and the Guarantors shall: 

(i) furnish to the Initial Purchasers and to counsel for the Initial Purchasers and the Holders, not less than five Business
Days prior to the filing thereof with the Commission, a copy of any Exchange Offer Registration Statement and, in the case of any Shelf Registration Statement, furnish the Majority Holders and their counsel a copy of the Shelf Registration
Statement, and each amendment thereof and each amendment or supplement, if any, to the Prospectus included therein and shall use their commercially reasonable best efforts to reflect in each such document, when so filed with the Commission, such
comments as the Initial Purchasers or Majority Holders, as applicable, and such respective counsel reasonably propose; 

(ii) include the information set forth in Annex A hereto on the facing page of an Exchange Offer Registration Statement, in
Annex B hereto in the forepart of an 

  
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Exchange Offer Registration Statement in a section setting forth details of the Exchange Offer, in Annex C hereto in the underwriting or plan of distribution section of the Prospectus contained
in an Exchange Offer Registration Statement, and in Annex D hereto in the letter of transmittal delivered pursuant to the Registered Exchange Offer; 

(iii) if requested in writing by the Initial Purchasers, include the information required by Item 507 or 508 of Regulation
S-K, as applicable, in the Prospectus contained in an Exchange Offer Registration Statement; and 
 (iv) in the case of a
Shelf Registration Statement, include the names of the Holders that propose to sell Registrable Securities pursuant to the Shelf Registration Statement as selling security holders. 

(b) The Issuers and the Guarantors shall ensure that: 

(i) any Registration Statement and any amendment thereto and any Prospectus forming part thereof and any amendment or
supplement thereto complies in all material respects with the Securities Act; and 
 (ii) any Registration Statement and any
amendment thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 

(c) The Issuers and the Guarantors shall advise the Holders of Securities covered by any Shelf Registration Statement and any Exchanging
Dealer under any Exchange Offer Registration Statement that, in each case, has provided in writing to the Issuers a telephone or facsimile number and address for notices, and, if requested in writing by the Initial Purchasers or any such Holder or
Exchanging Dealer, shall confirm such advice in writing (which notice pursuant to clauses (ii)-(v) hereof shall be accompanied by an instruction to suspend the use of the Prospectus until the Issuers and the Guarantors shall have remedied the
basis for such suspension): 
 (i) when a Registration Statement and any amendment thereto has been filed with the Commission
and when the Registration Statement or any post-effective amendment thereto has become effective; 

(ii) of any request by the Commission for any amendment or supplement to the Registration Statement or the Prospectus or for
additional information; 
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement or the institution or threatening of any proceeding for that purpose; 
 (iv) of the receipt by the
Issuers or the Guarantors of any notification with respect to the suspension of the qualification of the securities included therein for sale in any jurisdiction or the institution or threatening of any proceeding for such purpose; and 

(v) of the happening of any event that requires any change in the Registration Statement or the Prospectus so that, as of such
date, they (A) do not contain any untrue statement of a material fact and (B) do not omit to state a material fact 

  
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required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading. 
 (d) The Issuers and the Guarantors shall use their commercially reasonable best efforts
to prevent the issuance of any order suspending the effectiveness of any Registration Statement or the qualification of the securities therein for sale in any jurisdiction and, if issued, to obtain as soon as possible the withdrawal thereof. 

(e) The Issuers and the Guarantors shall, upon written request, furnish to each Holder of Securities covered by any Shelf Registration
Statement, without charge, at least one conformed copy of such Shelf Registration Statement and any post-effective amendment thereto, including (if specifically requested) all material incorporated therein by reference and all exhibits thereto
(including exhibits incorporated by reference therein). 
 (f) The Issuers and the Guarantors shall, during the Shelf Registration Period,
deliver to each Holder of Securities covered by any Shelf Registration Statement, without charge, as many copies of the Prospectus (including the Preliminary Prospectus) included in such Shelf Registration Statement and any amendment or supplement
thereto as such Holder may reasonably request in writing. The Issuers and the Guarantors consent to the use of the Prospectus or any amendment or supplement thereto by each of the selling Holders of Securities in connection with the offering and
sale of the Securities covered by the Prospectus, or any amendment or supplement thereto, included in the Shelf Registration Statement. 

(g) The Issuers and the Guarantors shall promptly deliver to the Initial Purchasers, each Exchanging Dealer and each other person required to
deliver a Prospectus during the Exchange Offer Registration Period, without charge, as many copies of the Prospectus included in such Exchange Offer Registration Statement and any amendment or supplement thereto as any such person may reasonably
request in writing. The Issuers and the Guarantors consent to the use of the Prospectus or any amendment or supplement thereto by the Initial Purchasers, any Exchanging Dealer and any such other person that may be required to deliver a Prospectus
following the Registered Exchange Offer in connection with the offering and sale of the New Securities covered by the Prospectus, or any amendment or supplement thereto, included in an Exchange Offer Registration Statement. 

(h) Prior to the Registered Exchange Offer or any other offering of Securities or New Securities pursuant to any Registration Statement, the
Issuers and the Guarantors shall use their commercially reasonable best efforts to arrange, if necessary, for the registration and/or qualification (or exemption therefrom) of the Securities or the New Securities for sale under the state securities
or Blue Sky laws of such jurisdictions within the United States as any Holder shall reasonably request in writing and shall maintain such registration and/or qualification (or exemption therefrom) in effect so long as required; provided that in no
event shall the Issuers and the Guarantors be obligated to qualify to do business in any jurisdiction where they are not then so qualified or to take any action that would subject them to service of process in suits, other than those arising out of
the Initial Placement, the Registered Exchange Offer or any offering pursuant to a Shelf Registration Statement, in any such jurisdiction where they are not then so subject. 

(i) The Issuers and the Guarantors shall cooperate with the Holders of Securities to facilitate the timely preparation and delivery of
certificates representing New Securities or Securities to be issued or sold pursuant to any Registration Statement free of any restrictive legends and in such denominations and registered in such names (consistent with the provisions of the
Indenture) as Holders may request at least two Business Days prior to such sale of New Securities or Securities. 

  
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 (j) (i) Upon the occurrence of any event contemplated by subsection (c)(v) above, the
Issuers and the Guarantors shall promptly (or within the time period provided for by clause (ii) hereof, if applicable) prepare a post-effective amendment to the applicable Registration Statement or an amendment or supplement to the related
Prospectus or file any other required document so that, as thereafter delivered to the Holders or purchasers of the securities included therein, the Prospectus will not include an untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. In such circumstances, the period of effectiveness of an Exchange Offer Registration
Statement or the Shelf Registration Statement provided for in Section 2 or Section 3, as applicable, shall be extended by the number of days from and including the date of the giving of a notice of suspension pursuant to Section 4(c)
to and including the date when the Initial Purchasers, the Holders of the Securities and any known Exchanging Dealer shall have received such amended or supplemented Prospectus pursuant to this Section. 

(ii) Upon the occurrence or existence of any pending corporate development or any other material event that, in the good faith
judgment of the Parent, makes it appropriate to suspend the availability of a Shelf Registration Statement and the related Prospectus, the Issuers and the Guarantors shall give notice (without notice of the nature or details of such events) to the
Holders that the availability of the Shelf Registration Statement is suspended and, upon actual receipt of any such notice, each Holder agrees not to sell any Registrable Securities pursuant to the Shelf Registration Statement until such
Holder’s receipt of copies of the supplemented or amended Prospectus provided for in Section 4(a) hereof, or until it is advised in writing by the Issuers and the Guarantors that the Prospectus may be used, and has received copies of any
additional or supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus. The period during which the availability of the Shelf Registration and any Prospectus is suspended (the “Deferral
Period”) shall not exceed 45 days in any three-month period or more than an aggregate of 90 days in any twelve-month period. 

(k) Not later than the effective date of any Registration Statement, the Issuers and the Guarantors shall provide a CUSIP number for the
Securities or the New Securities, as the case may be, registered under such Registration Statement and provide the Trustee with printed certificates for such Securities or New Securities, in a form eligible for deposit with The Depository Trust
Company. 
 (l) The Issuers and the Guarantors shall comply in all material respects with all applicable rules and regulations of the
Commission and shall make generally available to their security holders an earning statement satisfying the provisions of Section 11(a) of the Securities Act as soon as practicable after the effective date of the applicable Registration
Statement and in any event no later than 45 days after the end of a 12-month period (or 90 days, if such period is a fiscal year) beginning with the first month of the Parent’s first fiscal quarter commencing after the effective date of the
applicable Registration Statement; provided that the Issuers and the Guarantors will be deemed to have furnished such statement to its security holders to the extent it is filed on the Commission’s Electronic Data Gathering, Analysis and
Retrieval system. 
 (m) The Issuers and the Guarantors shall cause the Indenture to be qualified under the Trust Indenture Act as required
by applicable law in a timely manner. 
 (n) The Issuers and the Guarantors may require each Holder of securities to be sold pursuant to any
Shelf Registration Statement to furnish to the Issuers such information regarding the Holder and the distribution of such securities as the Issuers and the Guarantors may from time to time reasonably require for inclusion in such Registration
Statement. The Issuers and the Guarantors may exclude from such Shelf Registration Statement the Securities of any Holder that fails to furnish such information within a reasonable time after receiving such request in writing. 

  
 11 

 (o) In the case of any Shelf Registration Statement, upon the request in writing of the Majority
Holders, the Issuers and the Guarantors shall enter into customary agreements (including, if requested in writing, an underwriting agreement in customary form) and take all other appropriate actions, if any, as the Majority Holders shall reasonably
request in writing in order to expedite or facilitate the registration or the disposition of the Securities, and in connection therewith, if an underwriting agreement is entered into, cause the same to contain indemnification provisions and
procedures no less favorable than those set forth in Section 6 hereof. 
 (p) In the case of any Shelf Registration Statement, the
Issuers and the Guarantors shall: 
 (i) make available at reasonable times for inspection all relevant financial and other
records and pertinent corporate documents and properties of the Parent and its subsidiaries for inspection by the Holders of Securities to be registered thereunder, any underwriter participating in any disposition pursuant to such Registration
Statement, and any attorney, accountant or other agent retained by the Holders or any such underwriter; provided, however, that, if any such records, documents or other information are related to pending or proposed acquisitions or
dispositions, or otherwise related to matters reasonably considered by Parent to constitute sensitive or proprietary information, Parent need not provide such records, documents or information unless the foregoing parties enter into a
confidentiality agreement in customary form and reasonably acceptable to such parties and Parent; 
 (ii) use its
commercially reasonable best efforts to cause the Issuers’ and the Guarantors’ officers, directors, employees, accountants and auditors to supply all relevant information reasonably requested in writing by any Holder or any such
underwriter participating in any disposition pursuant to such Registration Statement and attorney, accountant or agent in connection with any such Registration Statement as is customary for similar due diligence examinations; provided,
however, that such information may not be used for any purpose other than due diligence and provided further, however, that any information that is designated in writing by the Parent, in good faith, as confidential at the time of
delivery of such information shall be kept confidential by the Holders or any such underwriter, legal counsel, accountant or agent, unless such disclosure is made in connection with an arbitration or court proceeding or required by law, or such
information becomes available to the public generally or through a third party without an accompanying obligation of confidentiality; 

(iii) make such representations and warranties to the Holders of Securities registered thereunder and the underwriters, if any,
in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including, but not limited to, those set forth in the Purchase Agreement; 

(iv) if requested in writing by the Majority Holders, their counsel or the Managing Underwriters, if any, in connection with
such Shelf Registration Statement, obtain opinions of counsel to the Issuers and the Guarantors and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the Managing Underwriters, if any)
addressed to each selling Holder and the underwriters, if any, covering such matters as are customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested in writing by such Holders and
underwriters; 

  
 12 

 (v) if requested in writing by the Majority Holders, their counsel or the
Managing Underwriters, if any, in connection with such Shelf Registration Statement, obtain “comfort” letters and updates thereof from the independent certified public accountants of the Parent (and, if necessary, any other independent
certified public accountants of any subsidiary of the Parent or of any business acquired by the Parent for which financial statements and financial data are, or are required to be, included in the Registration Statement), addressed to each selling
Holder of Securities registered thereunder and the underwriters, if any, provided that such letters need not be addressed to any Holder to whom, in the reasonable opinion of Parent’s independent public accountants, addressing such letter is not
permissible under applicable accounting standards, in customary form and covering matters of the type customarily covered in “comfort” letters in connection with primary underwritten offerings; and 

(vi) deliver such documents and certificates as may be reasonably requested in writing by the Majority Holders or the Managing
Underwriters, if any, including those to evidence compliance with Section 4(j) and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Issuers and the Guarantors. 

The actions set forth in clauses (iii), (v) and (vi) of this paragraph (p) shall be performed at (A) the effectiveness of such
Registration Statement and each post-effective amendment thereto; and (B) each closing under any underwriting or similar agreement as and to the extent required thereunder. The actions set forth in clause (iv) of this paragraph
(p) shall be performed at each closing under any underwriting or similar agreement as and to the extent required thereunder. 
 (q) In
the case of any Exchange Offer Registration Statement in connection with an underwritten offering, the Issuers shall, if requested in writing by the Initial Purchasers, or by a broker dealer that holds Securities that were acquired as a result of
market making or other trading activities: 
 (i) make reasonably available for inspection by the requesting party, and any
attorney, accountant or other agent retained by the requesting party, all relevant financial and other records, pertinent corporate documents and properties of the Parent and its subsidiaries; provided, however, that, if any such
records, documents or other information is related to pending or proposed acquisitions or dispositions, or otherwise related to matters reasonably acceptable to such parties and Parent to constitute sensitive or proprietary information, Parent need
not provide such records, documents or information unless the foregoing parties enter into a confidentiality agreement in customary form and reasonably acceptable to such parties and Parent; 

(ii) cause the Issuers’ and the Guarantors’ officers, directors, employees, accountants and auditors to supply all
relevant information reasonably requested in writing by the requesting party or any such attorney, accountant or agent in connection with any such Registration Statement as is customary for similar due diligence examinations; provided,
however, that such information may not be used for any purpose other than due diligence and provided further, however, that any information that is designated in writing by Parent, in good faith, as confidential at the time of delivery
of such information shall be kept confidential by the requesting party or any such attorney, accountant or agent, unless such disclosure is made in connection with an arbitration or court proceeding or required by law, or such information becomes
available to the public through a third party without an accompanying obligation of confidentiality; 

  
 13 

 (iii) make such representations and warranties to the requesting party, in form,
substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including, but not limited to, those set forth in the Purchase Agreement; 

(iv) obtain opinions of counsel to the Issuers and the Guarantors and updates thereof (which counsel and opinions (in form,
scope and substance) shall be reasonably satisfactory to the requesting party and its counsel), addressed to the requesting party, covering such matters as are customarily covered in opinions requested in underwritten offerings and such other
matters as may be reasonably requested by the requesting party or its counsel; 
 (v) obtain “comfort” letters and
updates thereof from the independent certified public accountants of the Parent (and, if necessary, any other independent certified public accountants of any subsidiary of the Parent or of any business acquired by the Parent for which financial
statements and financial data are, or are required to be, included in the Registration Statement), addressed to the requesting party, in customary form and covering matters of the type customarily covered in “comfort” letters in connection
with primary underwritten offerings, or if requested by the requesting party or its counsel in lieu of a “comfort” letter, an agreed-upon procedures letter under Statement on Auditing Standards No. 72, covering matters requested by
the requesting party or its counsel; and 
 (vi) deliver such documents and certificates as may be reasonably requested by
the requesting party or its counsel, including those to evidence compliance with Section 4(j) and with conditions customarily contained in underwriting agreements. 

 provided, however, that Parent will be required to perform the foregoing actions set forth in clauses (i) through (vi) only upon the
reasonable request in writing by the Initial Purchasers (if applicable) to Parent or the reasonable request in writing to Parent by one or more Broker-Dealers (if applicable) who certify to the Initial Purchasers and Parent in writing that they
anticipate they will receive New Securities for their own account in the Registered Exchange Offer for Securities that were acquired by such Broker-Dealer as a result of market-making or other trading activities, and, based on the position of the
Commission as described in Section 2(e) hereof, will be required to satisfy the prospectus delivery obligation under the Act in connection with the resale of such New Securities; and,  provided, further, that Parent will be
obligated to deal only with one entity representing such Broker-Dealers, which shall be Deutsche Bank Securities Inc., unless it elects not to act as such representative, and to pay the reasonable fees and expenses of only one counsel representing
such Broker-Dealers, which shall be the counsel to the Initial Purchasers, unless such counsel elects not to so act, and to cause to be delivered only one, if any, comfort letter with respect to the Prospectus in the form existing on the expiration
of the Registered Exchange Offer and with respect to each subsequent amendment or supplement to an Exchange Offer Registration Statement, if any, effected during the period specified above. 

The foregoing actions set forth in clauses (iii), (v) and (vi) of this paragraph (q) shall be performed at the close of the Registered Exchange
Offer and the effective date of any post-effective amendment to the Exchange Offer Registration Statement. The actions set forth in clause (iv) of this paragraph (q) shall be performed at the close of the Registered Exchange Offer. 

  
 14 

 (r) If a Registered Exchange Offer is to be consummated, upon delivery of any physical
certificates representing the Securities by Holders to the Issuers (or to such other person as directed by the Issuers) in exchange for physical certificates representing the New Securities, the Issuers shall mark, or caused to be marked, on the
Securities so exchanged that such Securities are being cancelled in exchange for the New Securities. In no event shall the Securities be marked as paid or otherwise satisfied. 

(s) The Issuers and the Guarantors shall use their commercially reasonable best efforts to confirm that the ratings issued to the Securities
prior to the initial sale will apply to the Securities or the New Securities, as the case may be, covered by a Registration Statement. 

(t) In the event that any Broker-Dealer shall underwrite any Securities or participate as a member of an underwriting syndicate or selling
group or “assist in the distribution” (within the meaning of the FINRA rules) thereof, whether as a Holder of such Securities or as an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise, the
Issuers and the Guarantors shall cooperate with such Broker-Dealer in complying with the FINRA rules and shall pay all filing and other fees and expenses in connection therewith. 

(u) The Issuers and the Guarantors shall use their commercially reasonable best efforts to take all other steps necessary to effect the
registration of the Securities or the New Securities, as the case may be, covered by a Registration Statement. 
 5. Registration
Expenses. The Issuers and the Guarantors shall bear all reasonable expenses incurred in connection with the performance of its obligations under Sections 2, 3 and 4 hereof and, in the event of any Shelf Registration Statement, will
reimburse the Holders for the reasonable and documented fees and disbursements of one firm or counsel (which shall be a nationally recognized law firm experienced in securities matters designated by the Majority Holders) to act as counsel for the
Holders in connection therewith (collectively, the “Registration Expenses”). The Registration Expenses shall exclude any and all fees and expenses of advisors or counsel to parties other than the Issuers or the Guarantors
(other than the fees and expenses set forth in Section 4(t) and in the preceding sentence); underwriting discounts and commissions; brokerage commissions; and transfer taxes, if any, relating to the sale or disposition of Securities or New
Securities. 
 6. Indemnification and Contribution. (a)The Issuers and the Guarantors, jointly and severally, agree to indemnify and
hold harmless each Holder of Securities or New Securities, as the case may be, covered by any Registration Statement, the Initial Purchasers and, with respect to any Prospectus delivery as contemplated in Section 4(g) hereof, each Exchanging
Dealer, the directors, officers and Affiliates of each such Holder, Initial Purchaser or Exchanging Dealer and each person who controls any such Holder, Initial Purchaser or Exchanging Dealer within the meaning of either Section 15 of the
Securities Act or Section 20 of the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act or other federal or state
statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement as originally filed or in any amendment thereof, or in any preliminary Prospectus or the Prospectus, or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of any preliminary Prospectus or the Prospectus, in the light of the circumstances under which they were made) not
misleading, and agree to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in connection with investigating or defending any such loss, claim, damage, liability or action; provided,
however, that the Issuers and the Guarantors will not be liable in any such case to the extent that any such loss, claim, damage or liability 

  
 15 

 
arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information
pertaining to any Holder or any Initial Purchaser furnished to the Issuers by or on behalf of such Holder or Initial Purchaser specifically for inclusion therein. This indemnity agreement shall be in addition to any liability that the Issuers and
the Guarantors may otherwise have. 
 The Issuers and the Guarantors also, jointly and severally, agree to indemnify as provided in this
Section 6(a) or contribute as provided in Section 6(e) hereof to Losses of each underwriter, if any, of Securities or New Securities, as the case may be, registered under a Shelf Registration Statement, on substantially the same basis as
that of the indemnification of the Initial Purchasers and the selling Holders provided in this Section 6(a) and shall, if requested in writing by any Holder, enter into an underwriting agreement reflecting such agreement, as provided in
Section 4(o) hereof. 
 (b) Each Holder of securities covered by a Registration Statement (including the Initial Purchasers that are
Holders, in such capacity) severally and not jointly agrees to indemnify and hold harmless the Issuers, each of the Guarantors, each of their respective directors, each of their respective officers who signs such Registration Statement and each
person who controls the Issuers and/or any Guarantor within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act against losses, claims, damages or liabilities (or actions in respect thereof) and agree to
reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in connection with investigating or defending any such loss, claim, damage, liability or action, to the same extent as the foregoing
indemnity from the Issuers and the Guarantors to each such Holder, but only with respect to information pertaining to such Holder furnished to the Issuers by or on behalf of such Holder specifically for inclusion in the documents referred to in the
foregoing indemnity. This indemnity agreement will be in addition to any liability that any such Holder may otherwise have. 
 (c) Promptly
after receipt by an indemnified party under this Section 6 or notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 6, notify
the indemnifying party in writing of the commencement thereof; but the failure so to notify the indemnifying party (i) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent the indemnifying party
is materially prejudiced by such omission. The indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in
any action for which indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained
by the indemnified party or parties except as set forth below); provided, however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel
(including local counsel) to represent the indemnified party in an action, the indemnified party shall have the right to employ one separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and
expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest between the indemnifying party and the indemnified party;
(ii) the actual or potential defendants in, or targets of, any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it
and/or other indemnified parties that are different from or additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the
indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. It is
understood and agreed that the indemnifying party shall not, in connection with any proceeding or separate but related or substantially similar proceedings in the same 

  
 16 

 
jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm (in addition to any local counsel in each
relevant jurisdiction) representing the indemnified parties under paragraph (a) or paragraph (b) of this Section 6, as the case may be, who are parties to such action or actions. Any such separate firm for any Holders shall be
designated in writing by the Holders who sold a majority in interest of the Securities or New Securities by all such Holders in the case of paragraph (a) of this Section 6 or the Issuers in the case of paragraph (b) of this
Section 6. In the event that any Holders are indemnified persons collectively entitled, in connection with a proceeding or separate but related or substantially similar proceedings in a single jurisdiction, to the payment of fees and expenses
of a single separate firm under this Section 6(c), and any such Holders cannot agree to a mutually acceptable separate firm to act as counsel thereto, then such separate firm for all such indemnified parties shall be designated in writing by
the Holders who sold a majority in interest of the Securities or New Securities by all such Holders. No indemnifying party shall, without the written consent of the indemnified parties, effect any settlement of any pending or threatened proceeding
in respect of which any indemnified party is or could have been a party and indemnification could have been sought hereunder by such indemnified party, unless such settlement (i) includes an unconditional release of such indemnified party, in
form and substance reasonably satisfactory to such indemnified party, from all liability on claims that are the subject matter of such proceeding and (ii) does not include any statement as to or any admission of fault, culpability or a failure
to act by or on behalf of any indemnified party. All fees and expenses reimbursed pursuant to this paragraph (c) shall be reimbursed as they are incurred. 

(d) After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and approval by such
indemnified party of counsel appointed to defend such action, the indemnifying party will not be liable to such indemnified party under this Section 6 for any legal or other expenses, other than reasonable costs of investigation, subsequently
incurred by such indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed separate counsel in accordance with the third sentence of paragraph (c) of this Section 6 or (ii) the
indemnifying party has authorized in writing the employment of counsel for the indemnified party at the expense of the indemnifying party. After such notice from the indemnifying party to such indemnified party, the indemnifying party will not be
liable for the costs and expenses of any settlement of such action effected by such indemnified party without the prior written consent of the indemnifying party (which consent shall not be unreasonably withheld), unless such indemnified party
waived in writing its rights under this Section 6, in which case the indemnified party may effect such a settlement without such consent. 

(e) In the event that the indemnity provided in paragraph (a) or (b) of this Section 6 is unavailable to or insufficient to
hold harmless an indemnified party for any reason for the losses, claims, damages or liabilities (or actions in respect thereof) (other than by virtue of the failure of an indemnified party to notify the indemnifying party of its right to
indemnification pursuant to paragraph (a) or (b) of this Section 6, where such failure materially prejudices the indemnifying party (through the forfeiture of substantial rights or defenses)) referred to therein, then each applicable
indemnifying party shall have a joint and several obligation (unless the Holders are the indemnifying parties in which case their obligations are several and not joint) to contribute to the aggregate losses, claims, damages and liabilities
(including legal or other expenses reasonably incurred in connection with investigating or defending any loss, claim, liability, damage or action) (collectively “Losses”) to which such indemnified party may be subject in such
proportion as is appropriate to reflect the relative benefits received by such indemnifying party, on the one hand, and such indemnified party, on the other hand, from the Initial Placement and the Registration Statement which resulted in such
Losses; provided, however, that in no event (i) shall an Initial Purchaser be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Initial Purchaser with respect to the
offering of the Securities, or in the case of a New Security, exceeds the amount of any damages that such Initial 

  
 17 

 
Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission, (ii) nor shall any underwriter be required to contribute
any amount in excess of the amount by which the total discounts and commissions received by such underwriter with respect to the offering of the securities purchased by such underwriter exceeds the amount of any damages that such underwriter has
otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission, and (iii) nor shall any Holder be required to contribute any amount in excess of the amount by which the net proceeds by such
Holder from the sale of Securities or New Securities pursuant to a Registration Statement exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or
alleged omission. If the allocation provided by the immediately preceding sentence is unavailable for any reason, the indemnifying party and the indemnified party shall contribute to cover the cost of the Losses in such proportion as is appropriate
to reflect not only such relative benefits but also the relative fault of such indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection with the statements or omissions which resulted in such Losses as well
as any other relevant equitable considerations. Benefits received by the Issuers and the Guarantors on the one hand and the Initial Purchasers on the other shall be deemed to be in the same respective proportions as the net proceeds (before
deducting expenses) received by the Issuers from the sale of the Securities and the total discounts and commissions received by the Initial Purchasers as set forth in the Final Offering Memorandum and bear to the aggregate offering price of the
Securities. Benefits received by any other Holders shall be deemed to be equal to the value of receiving Securities or New Securities, as applicable, registered under the Securities Act. Benefits received by any underwriter shall be deemed to be
equal to the total underwriting discounts and commissions, as set forth on the cover page of the Prospectus forming a part of the Registration Statement which resulted in such Losses. The relative fault of the Issuers and the Guarantors on the one
hand and the Initial Purchasers on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to
information supplied by the Issuers or any Guarantor or by the Initial Purchasers and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. Notwithstanding the
provisions of this paragraph (e), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. 
 (f) The provisions of this Section 6 will remain in full force and effect, regardless of any investigation made
by or on behalf of any Holder or the Issuers or any of the indemnified persons referred to in this Section 6, and will survive the sale by a Holder of securities covered by a Registration Statement. 

7. Underwritten Registrations. 

(a) If any of the Securities or New Securities, as the case may be, covered by any Shelf Registration Statement are to be sold in an
underwritten offering, the Managing Underwriters shall be selected by the Majority Holders and shall be reasonably acceptable to the Parent. 

(b) No person may participate in any underwritten offering pursuant to any Shelf Registration Statement, unless such person (i) agrees to
sell such person’s Securities or New Securities, as the case may be, on the basis reasonably provided in any underwriting arrangements approved by the persons entitled hereunder to approve such arrangements; and (ii) timely completes and
executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. 

  
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 8. Registration Defaults. If any of the following events (each such event, a
“Registration Default”) shall occur, then the Issuers shall pay additional interest (the “Additional Interest”) to the Holders of the applicable series of Registrable Securities in respect of the
Registrable Securities as follows: 
 (a) if any Registration Statement required by this Agreement is not declared effective by the
Commission on or prior to, in the case of any required Exchange Offer Registration Statement, the Exchange Offer Effectiveness Deadline (unless the applicable Registered Exchange Offer is not permissible due to any change in law or applicable
interpretations thereof by the Commission or its staff), and, in the case of any required Shelf Registration Statement, the Shelf Effectiveness Deadline, then commencing on the day after such Exchange Offer Effectiveness Deadline or Shelf
Effectiveness Deadline, as applicable, Additional Interest shall accrue on the series of Registrable Securities to which such Registration Default applies at a rate of 0.25% per annum for the first 90 days from and including such specified date
plus an additional 0.25% per annum as of the end of each subsequent 90-day period thereafter in each case until the Registration Statement, if required hereby, becomes effective or the Securities become freely tradable under the Securities Act,
up to a maximum increase of 1.00% per annum; or 
 (b) if any Registered Exchange Offer required by this Agreement is not completed
prior to the Exchange Offer Completion Date, then Additional Interest shall accrue on the series of Registrable Securities to which such Registration Default applies at a rate of 0.25% per annum for the first 90 days from and including such
Exchange Offer Completion Date plus an additional 0.25% per annum as of the end of each subsequent 90-day period thereafter in each case until the Registered Exchange Offer required by this Agreement is completed or the Securities become freely
tradable under the Securities Act, up to a maximum increase of 1.00% per annum; or 
 (c) if any Registration Statement required by
this Agreement has been declared effective but ceases to be effective at any time at which it is required to be effective under this Agreement without being succeeded within one Business Day by a post-effective amendment to such Registration
Statement that cures such failure and that is itself declared effective on the same Business Day of its filing, then commencing on the day the Registration Statement ceases to be effective, Additional Interest shall accrue on the series of
Registrable Securities to which such Registration Default applies at a rate of 0.25% per annum for the first 90 days from and including such specified date plus an additional 0.25% per annum as of the end of each subsequent 90-day period
thereafter in each case until the Registration Statement, if required hereby, becomes effective or the Securities become freely tradable under the Securities Act, up to a maximum increase of 1.00% per annum; 

 provided, however, that Additional Interest may not accrue under more than one Registration Default at any one time; provided,
 further, that upon the the cure of all Registration Defaults that have occurred, Additional Interest shall cease to accrue. Furthermore, no incremental Additional Interest shall accrue during any Deferral Period in effect in accordance
with the terms of this Agreement. 
 9. No Inconsistent Agreements. The Issuers and the Guarantors have not entered into, and agree
not to enter into, any agreement with respect to their securities that is inconsistent with the rights granted to the Holders herein or that otherwise conflicts with the provisions hereof. Notwithstanding the foregoing, however, such provision shall
not prohibit the Issuers or the Guarantors from satisfying their obligations under any existing agreements providing security holders with registration rights. 

10. Amendments and Waivers. The provisions of this Agreement may not be amended, qualified, modified or supplemented, and waivers or
consents to departures from the provisions hereof 

  
 19 

 
may not be given, unless the Issuers and the Guarantors have obtained the written consent of the Holders of a majority of the aggregate principal amount of the Registrable Securities outstanding;
provided that, with respect to any matter that directly or indirectly affects the rights of the Initial Purchasers hereunder, the Issuers and the Guarantors shall obtain the written consent of the Initial Purchasers against which such
amendment, qualification, supplement, waiver or consent is to be effective; provided, further, that no amendment, qualification, supplement, waiver or consent with respect to Section 8 hereof shall be effective as against any
Holder of Registered Securities unless consented to in writing by such Holder; and provided, further, that the provisions of this Section 10 may not be amended, qualified, modified or supplemented, and waivers or consents to
departures from the provisions hereof may not be given, unless the Issuers and the Guarantors have obtained the written consent of the Initial Purchasers and each Holder. Notwithstanding the foregoing (except the foregoing provisos), a waiver or
consent to departure from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose Securities or New Securities, as the case may be, are being sold pursuant to a Registration Statement and that does not
directly or indirectly affect the rights of other Holders may be given by the Majority Holders, determined on the basis of Securities or New Securities, as the case may be, being sold rather than registered under such Registration Statement. 

11. Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery,
first-class mail, telex, telecopier or air courier guaranteeing overnight delivery: 
 (a) if to a Holder, at the most current address given
by such holder to the Issuers and the Guarantors in accordance with the provisions of this Section 11, which address initially is, with respect to each Holder, the address of such Holder maintained by the Registrar under the Indenture; 

(b) if to the Initial Purchasers, initially at the address or addresses set forth in the Purchase Agreement; and 

(c) if to the Issuers and the Guarantors, initially at the Issuers’ address set forth in the Purchase Agreement. 

All such notices and communications shall be deemed to have been duly given when received. 

The Initial Purchasers or the Issuers and the Guarantors by notice to the other parties may designate additional or different addresses for
subsequent notices or communications. 
 12. Remedies. Each Holder, in addition to being entitled to exercise all rights provided to
it herein, in the Indenture or in the Purchase Agreement or granted by law, including recovery of liquidated or other damages, will be entitled to specific performance of its rights under this Agreement. The Issuers and the Guarantors agree that
monetary damages would not be adequate compensation for any loss incurred by reason of a breach by them of the provisions of this Agreement and hereby agree to waive in any action for specific performance the defense that a remedy at law would be
adequate. 
 13. Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective
successors and assigns, including, without the need for an express assignment or any consent thereto by the Issuers and the Guarantors, subsequent Holders of Securities and the New Securities, or the indemnified persons referred to in Section 6
hereof. The Issuers and the Guarantors hereby agree to extend the benefits of this Agreement to any Holder of Securities and the New Securities, and any such Holder may specifically enforce the provisions of this Agreement as if an original party
hereto. 

  
 20 

 14. Integration. This Agreement superseded all prior agreements and understandings
(whether written or oral) among the parties with respect to the subject matter hereof. 
 15. Counterparts. This Agreement may be
signed in one or more counterparts, each of which shall constitute an original and all of which together shall constitute one and the same agreement. 

16. Headings. The section headings used herein are for convenience only and shall not affect the construction hereof. 

17. Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable
to contracts made and to be performed within the State of New York. The parties hereto each hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all rights to trial by jury in any legal proceeding arising out of or
relating to this Agreement or the transactions contemplated hereby. 
 18. Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 

19. Securities Held by the Issuers, etc. Whenever the consent or approval of Holders of a specified percentage of principal amount of
Securities or New Securities is required hereunder, Securities or New Securities, as applicable, held by the Issuers, the Guarantors or their Affiliates shall be deemed not outstanding in determining whether such consent or approval was given by the
Holders of such required percentage. 

  
 21 

 If the foregoing is in accordance with your understanding of our agreement, please sign and
return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall represent a binding agreement between the Issuers, the Guarantors and the Initial Purchasers. 

 

			
	THE ISSUERS
	
	CBS OUTDOOR AMERICAS CAPITAL LLC
		
	By:	 	 /s/ Donald R. Shassian

	Name:	 	Donald R. Shassian
	Title:	 	Executive Vice President and Chief Financial Officer
	
	CBS OUTDOOR AMERICAS CAPITAL CORPORATION
		
	By:	 	 /s/ Donald R. Shassian

	Name:	 	Donald R. Shassian
	Title:	 	Executive Vice President and Chief Financial Officer

  
 [SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT] 

 
			
	GUARANTORS
	
	CBS OUTDOOR AMERICAS INC.
		
	By:	 	 /s/ Donald R. Shassian

	Name:	 	Donald R. Shassian
	Title:	 	Executive Vice President and Chief Financial Officer
	
	CBS OUTDOOR GROUP LLC
		
	By:	 	 /s/ Donald R. Shassian

	Name:	 	Donald R. Shassian
	Title:	 	Executive Vice President and Chief Financial Officer
	
	CBS OUTDOOR L.A. INC.
		
	By:	 	 /s/ Donald R. Shassian

	Name:	 	Donald R. Shassian
	Title:	 	Executive Vice President and Chief Financial Officer
	
	CBS OUTDOOR LLC
		
	By:	 	 /s/ Donald R. Shassian

	Name:	 	Donald R. Shassian
	Title:	 	Executive Vice President and Chief Financial Officer
	
	CBS OUTERNET INC.
		
	By:	 	 /s/ Donald R. Shassian

	Name:	 	Donald R. Shassian
	Title:	 	Executive Vice President and Chief Financial Officer

  
 [SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT] 

 
			
	CBS COLLEGIATE SPORTS PROPERTIES INC.
		
	By:	 	 /s/ Donald R. Shassian

	Name:	 	Donald R. Shassian
	Title:	 	Executive Vice President and Chief Financial Officer
	
	OUTDOOR INC.
		
	By:	 	 /s/ Donald R. Shassian

	Name:	 	Donald R. Shassian
	Title:	 	Executive Vice President and Chief Financial Officer

  
 [SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT] 

					
	The foregoing Agreement is hereby confirmed and accepted as of the date first above written.
	
	WELLS FARGO SECURITIES, LLC
		
	By:	 	 /s/ Jeffrey R. Gignac

		 	Name:	 	Jeffrey R. Gignac
		 	Title:	 	Managing Director
	
	GOLDMAN, SACHS & CO.
		
	By:	 	 /s/ Michael Hickey

		 	Name:	 	Michael Hickey
		 	Title:	 	Managing Director
	
	For themselves and the other several Initial Purchasers

  
 [SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT] 

 ANNEX A 

Each broker-dealer that receives new securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such new securities. The Letter of Transmittal states that by so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the
meaning of the Securities Act. This prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of new securities received in exchange for securities where such securities were
acquired by such broker-dealer as a result of market-making activities or other trading activities. The Issuers have agreed that, for a period of 120 days after the date of this prospectus, it will make this prospectus available to any broker-dealer
for use in connection with any such resale. See “Plan of Distribution.” 

  
 A-1 

 ANNEX B 

Each broker-dealer that receives new securities for its own account in exchange for securities, where such securities were acquired by such
broker-dealer as a result of market-making activities or other trading activities, must acknowledge that it will deliver a prospectus in connection with any resale of such new securities. See “Plan of Distribution.” 

  
 B-1 

 ANNEX C 

PLAN OF DISTRIBUTION 

Each broker-dealer that receives new securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such new securities. This prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of new securities received in exchange for securities
where such securities were acquired as a result of market-making activities or other trading activities. In addition, all dealers effecting transactions in the new securities may be required to deliver a prospectus. To the extent any such
broker-dealer participates in the Exchange Offer, the Issuers have agreed that, for a period of 120 days after the date of this prospectus, it will make this prospectus, as amended or supplemented, available to any broker-dealer for use in
connection with any such resale, and will deliver as many additional copies of this prospectus and any amendment or supplement to this prospectus to any broker-dealer that requests such documents in the Letter of Transmittal. 

The Issuers will not receive any proceeds from any sale of new securities by brokers-dealers. New securities received by broker-dealers for
their own account pursuant to the Exchange Offer may be sold from time to time in one or more transactions in the over-the-counter market, in negotiated transactions, through the writing of options on the new securities or a combination of such
methods of resale, at market prices prevailing at the time of resale, at prices related to such prevailing market prices or negotiated prices. Any such resale may be made directly to purchasers or to or through brokers or dealers who may receive
compensation in the form of commissions or concessions from any such broker-dealer and/or the purchasers of any such new securities. Any broker-dealer that resells new securities that were received by it for its own account pursuant to the Exchange
Offer and any broker or dealer that participates in a distribution of such new securities may be deemed to be an “underwriter” within the meaning of the Securities Act and any profit of any such resale of new securities and any commissions
or concessions received by any such persons may be deemed to be underwriting compensation under the Securities Act. The Letter of Transmittal states that by acknowledging that it will deliver and by delivering a prospectus, a broker-dealer will not
be deemed to admit that it is an “underwriter” within the meaning of the Securities Act. 
 The Issuers have agreed to pay all
expenses incident to the Exchange Offer other than commissions or concessions of any brokers or dealers and will indemnify the holders of the securities (including any broker-dealers) against certain liabilities, including liabilities under the
Securities Act. 

  
 C-1 

 ANNEX D 

Rider A 
 PLEASE FILL IN YOUR NAME AND ADDRESS BELOW IF
YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO. 
  

					
	Name:	 	  
	 	
	Address:	 	  
	 	
		 	  
	 	

 Rider B 
 If the
undersigned is not a broker-dealer, the undersigned represents that it acquired the new securities in the ordinary course of its business, it is not engaged in, and does not intend to engage in, a distribution of new securities and it has no
arrangements or understandings with any person to participate in a distribution of the new securities. If the undersigned is a broker-dealer that will receive new securities for its own account in exchange for securities, it represents that the
securities to be exchanged for new securities were acquired by it as a result of market-making activities or other trading activities and acknowledges that it will deliver a prospectus in connection with any resale of such new securities; however,
by so acknowledging and by delivering a prospectus, the undersigned will not be deemed to admit that it is an “underwriter” within the meaning of the Securities Act. 

  
 D-1Exhibit 10.1

 

ASSIGNMENT AND BORROWING BASE INCREASE AGREEMENT

 

THIS ASSIGNMENT AND BORROWING BASE INCREASE AGREEMENT (hereinafter called this “Agreement”) is entered into as of September 30, 2014, by and among MIDSTATES PETROLEUM COMPANY, INC., a Delaware corporation (the “Parent”), MIDSTATES PETROLEUM COMPANY LLC, a Delaware limited liability company (the “Borrower”), the Lenders party hereto, and SUNTRUST BANK, as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”), as an Issuing Lender and as Swing Line Lender.

 

WITNESSETH:

 

WHEREAS, Borrower, Administrative Agent, the Issuing Lender, the Swing Line Lender and the lenders party thereto (the “Lenders”) entered into that certain Second Amended and Restated Credit Agreement dated as of June 8, 2012 (as amended, restated, modified or supplemented from time to time prior to the date hereof, the “Credit Agreement”), whereby the Lenders have agreed to make certain loans to Borrower upon the terms and conditions set forth therein;

 

WHEREAS, Administrative Agent has recommended, and Borrower and each Lender has agreed, that the Conforming Borrowing Base be increased to an amount equal to $525,000,000;

 

WHEREAS, certain Lenders (each, an “Assignee Lender”) have informed Borrower and Administrative Agent that they intend to purchase and assume (severally and not jointly) a portion of the Commitments, outstanding Loans, outstanding LC Obligation, and other rights and obligations under the Credit Agreement and the other Loan Documents of Citibank, N.A. (“Exiting Lender”), Morgan Stanley Bank, N.A. and The Royal Bank of Scotland plc (each (including Exiting Lender), an “Assignor Lender”), and each Assignor Lender has agreed to sell and assign (severally and not jointly), in the case of Exiting Lender, all of, and in the case of each other Assignor Lender, a portion of, its respective Commitment, outstanding Loans, outstanding LC Obligations, and other rights and obligations under the Credit Agreement such that, after giving effect hereto, Exiting Lender shall no longer be a Lender under the Credit Agreement and each other Lender will have a Commitment and corresponding Pro Rata Share of the aggregate outstanding Loans and LC Obligations under the Credit Agreement as set forth on Annex A;

 

NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained, the parties to this Agreement hereby agree as follows:

 

Section 1.                                           Terms Defined in Credit Agreement.  As used in this Agreement, except as may otherwise be provided herein, all capitalized terms that are defined in the Credit Agreement (as amended hereby) shall have the same meaning herein as therein defined, all of such terms and their definitions being incorporated herein by reference.

 

Section 2.                                           Scheduled Borrowing Base Redetermination.

 

(a)                                 Pursuant to Section 2.04(a) of the Credit Agreement, on and as of October 1, 2014, but subject to the occurrence of the Agreement Effective Date, the Conforming

 

 

Borrowing Base shall automatically increase to $525,000,000 (the “Conforming Borrowing Base Increase”) until adjusted in accordance with Section 2.04(f) of the Credit Agreement or otherwise redetermined.

 

(b)                                 Both the Parent and the Borrower, on the one hand, and the Administrative Agent and the Lenders, on the other hand, agree that the redetermination of the Conforming Borrowing Base pursuant to clause (a) of this Section 2 shall constitute the regularly scheduled redetermination of the Conforming Borrowing Base for October 1, 2014 (and shall not constitute a discretionary redetermination of the Conforming Borrowing Base by either the Borrower, on the one hand, or the Administrative Agent or Lenders, on the other hand, pursuant to Section 2.04(e) of the Credit Agreement).

 

Section 3.                                           Conditions of Agreement Effective Date.  The Conforming Borrowing Base Increase set forth in Section 2 and the assignments set forth in Section 6 will become effective on the date (the “Agreement Effective Date”) on which each of the following conditions precedent are satisfied (or are waived by the Administrative Agent and the Lenders in their sole discretion):

 

(a)                                 Borrower, Parent and each Lender shall have delivered to Administrative Agent duly executed counterparts of this Agreement;

 

(b)                                 Borrower shall have made payment of all fees and expenses then due and payable under the Credit Agreement, including any fees and expenses then due and payable in connection with this Agreement pursuant to Section 12.04(a) of the Credit Agreement, in the case of expenses to the extent invoiced at least three business days prior to the Agreement Effective Date (except as otherwise reasonably agreed by Borrower); and

 

(c)                                  Administrative Agent shall have received a certificate executed by a Responsible Officer of each of Borrower and Parent stating that (i) the representations and warranties in Article VI of the Credit Agreement shall be true and correct in all material respects (except for representations and warranties already qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects), on and as of the Agreement Effective Date with the same effect as if made on and as of such date (except to the extent such representations and warranties expressly refer to an earlier date in which case they shall be true and correct in all material respects, except for representations and warranties already qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects as of such earlier date), and (ii) no Default or Event of Default has occurred and is continuing.

 

Section 4.                                           Upfront Fees.  Borrower agrees to pay to the Administrative Agent on the Agreement Effective Date for the account of each Lender that has increased its Commitment to the Conforming Borrowing Base under the Credit Agreement pursuant to this Agreement relative to such Lender’s Commitment to the Conforming Borrowing Base under the Credit Agreement immediately prior to the Agreement Effective Date (each such Lender described the foregoing clause, an “Increasing Lender”), a one-time upfront fee in an amount of thirty-seven and one half (37.5) basis points times the amount of the difference between each such Increasing Lender’s Commitment to the Conforming Borrowing Base immediately after the Agreement Effective Date and each such Increasing Lender’s Commitment to the Conforming Borrowing

 

2

 

Base immediately prior to the Agreement Effective Date (it being understood and agreed that such upfront fee shall not be payable with respect to any Lender or its affiliates if the total Commitment of such Lender and its affiliates to the Conforming Borrowing Base is less than or equal to the total Commitment of such Lender and its affiliates to the Conforming Borrowing Base under the Credit Agreement immediately prior to the Agreement Effective Date); provided, that for purposes of determining any Lender’s Commitment to the Conforming Borrowing Base before or after giving effect to the Agreement Effective Date pursuant to this Section 4, the Commitments of any Lender and of its affiliates shall be deemed to be a single Commitment.

 

Section 5.                                           Representations and Warranties.  On the Agreement Effective Date, each of Parent and Borrower represents and warrants to Administrative Agent and each of the Lenders that:

 

(a)                                 Each Loan Party: (i) is validly existing and (ii) has the power and authority to execute, deliver, and perform its obligations under this Agreement and each other Loan Document to which it is a party except where the failure does not constitute a Default and could not reasonably be expected to have a Material Adverse Effect.

 

(b)                                 The execution, delivery and performance by each of Parent and Borrower of this Agreement and each other Loan Document to which it is a party has been duly authorized by all necessary limited liability company or corporate action, as applicable, and does not and will not contravene the terms of any of such Person’s Organization Documents.

 

(c)                                  This Agreement and each other Loan Document to which each Loan Party is a party constitutes the legal, valid and binding obligations of such Person to the extent it is a party thereto, enforceable against such Person in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

 

Section 6.                                           Assignment and Assumption.

 

(a)                                 As of the Agreement Effective Date (and subject to the conditions set forth in Section 3 above), each Assignor Lender hereby irrevocably sells and assigns, severally and not jointly, to the Assignee Lenders, and the Assignee Lenders hereby irrevocably purchase and assume from each Assignor Lender, severally and not jointly, (i) all (in the case of Exiting Lender) or a portion (in the case of each other Assignor Lender), as applicable, of each Assignor Lender’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other document or instrument delivered pursuant thereto to the extent related to the amount and percentage interest of such outstanding rights and obligations of such Assignor Lender under the Credit Agreement (including any letters of credit thereunder) to the extent related to the amount and percentage interest necessary to cause the Commitments and Pro Rata Shares of all Lenders to be, after giving effect to such assignments, as set forth on Annex A hereto, and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of such Assignor Lender (in its capacity as Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other document or instrument delivered pursuant thereto or the transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims,

 

3

 

malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) being referred to herein collectively for each such Assignor Lender as the “Assigned Interests”), subject to and in accordance with this Section 6.  Such sale and assignment is without recourse to any Assignor Lender and, except as expressly provided in this Section 6, without representation or warranty by any Assignor Lender.

 

(b)                                 Each Assignor Lender (i) represents and warrants that (A) it is the legal and beneficial owner of the Pro Rata Share of its Assigned Interests, (B) such Assigned Interests are free and clear of any lien, encumbrance or other adverse claim, and (C) it has full power and authority, and has taken all action necessary, to execute and deliver this assignment and to consummate the transactions contemplated by this Section 6, and (ii) assumes no responsibility with respect to (A) any statements, warranties or representation made in or in connection with the Credit Agreement or any other Loan Document, (B) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any Collateral thereunder, (C) the financial condition of Borrower or any other Loan Party, or (D) the performance or observance by Borrower or any other Loan Party of any of their respective obligations under any Loan Document.

 

(c)                                  Each Assignee Lender (i) represents and warrants that (A) it has full power and authority, and has taken all action necessary, to execute and deliver this assignment and to consummate the transactions contemplated hereby, (B) it satisfies the requirements specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interests being assigned to it hereunder, (C) it has received copies of the most recent financial statements delivered pursuant thereto, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement and to purchase the Assigned Interests purchased by it hereunder on the basis of which it has made such analysis and decision independently and without reliance on Administrative Agent, the Arrangers, or any other Lender, and (D) if it is a Foreign Lender, it has supplied to Administrative Agent any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by such Assignee Lender, and (ii) agrees that (A) it will, independently and without reliance on Administrative Agent, any Assignor Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (B) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.

 

(d)                                 From and after the Agreement Effective Date, the Administrative Agent shall distribute all payments in respect of the Assigned Interests (including payments of principal, interest, fees and other amounts) to the applicable Assignor Lenders for amounts that have accrued to but excluding the Agreement Effective Date and to the appropriate Assignee Lenders as specified on Annex A hereto for amounts that accrue from and after the Agreement Effective Date.

 

4

 

(e)                                  Borrower shall pay to each Assignor Lender all break funding payments actually incurred payable in accordance with Section 3.04 of the Credit Agreement in connection with the assignments made pursuant to this Section 6.

 

(f)                                   After giving effect to this Section 6, each Assignor Lender, each Assignee Lender and each other Lender will have a Commitment and corresponding Pro Rata Share of the aggregate outstanding Loans and LC Obligation under the Credit Agreement as set forth on Annex A (and for the avoidance of doubt, Exiting Lender shall cease to be a Lender under the Credit Agreement from and after the Agreement Effective Date).

 

Section 7.                                           Correction of Scrivener’s Omission in Third Amendment to Credit Agreement.  In order to correct a scrivener’s omission from that certain Assignment and Third Amendment to Credit Agreement dated as of May 20, 2013, among Parent, Borrower, Administrative Agent and the Lender party thereto, the parties hereto acknowledge and confirm that the “Maximum Loan Amounts” set forth in Item 1.A of Appendix I of the Credit Agreement was increased from $500,000,000 to $750,000,000 pursuant to such Third Amendment.

 

Section 8.                                           Reference to and Effect on the Credit Agreement.

 

(a)                                 Upon the Agreement Effective Date and thereafter, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, shall mean and be a reference to the Credit Agreement as amended hereby.

 

(b)                                 Except as specifically amended by this Agreement, the Credit Agreement shall remain in full force and effect and is hereby ratified and confirmed.

 

Section 9.                                           Cost and Expenses.  Each of Parent and Borrower agrees to pay fees and expenses in connection with this Agreement pursuant to the terms and conditions of Section 12.04(a) of the Credit Agreement.

 

Section 10.                                    Extent of Agreements.  Except as specifically set forth in this Agreement, the Credit Agreement and the other Loan Documents are not amended, modified or affected hereby.  Each of Parent and Borrower hereby ratifies and confirms that (i) except as specifically set forth in this Agreement, all of the terms, conditions, covenants, representations, warranties and all other provisions of the Credit Agreement remain in full force and effect, (ii) each of the other Loan Documents are and remain in full force and effect in accordance with their respective terms, and (iii) the Collateral is unimpaired by this Agreement.

 

Section 11.                                    Execution and Counterparts.  This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of this Agreement by facsimile shall be equally as effective as delivery of a manually executed counterpart of this Agreement.

 

Section 12.                                    Governing Law.  This Agreement shall be governed by, construed and interpreted in accordance with the laws of the State of New York, except to the extent that federal laws of the United States of America apply.

 

5

 

Section 13.                                    Headings.  Section headings in this Agreement are included herein for convenience and reference only and shall not constitute a part of this Agreement for any other purpose.

 

Section 14.                                    No Waiver.  Borrower hereby agrees that except as expressly set forth in this Agreement, no Default or Event of Default has been waived or remedied by the execution of this Agreement by Administrative Agent, the Swing Line Lender, any Issuing Lender or any Lender, and any such Default or Event or Default heretofore arising and currently continuing shall continue after the execution and delivery hereof.  Nothing contained in this Agreement nor any past indulgence by Administrative Agent, the Swing Line Lender, any Issuing Lender or any Lender, nor any other action or inaction on behalf of Administrative Agent, the Swing Line Lender, any Issuing Lender or any Lender shall constitute or be deemed to constitute an election of remedies by Administrative Agent, the Swing Line Lender, any Issuing Lender or any Lender.

 

Section 15.                                    Loan Document.  This Agreement is a Loan Document.

 

Section 16.                                    NO ORAL AGREEMENTS.  THE RIGHTS AND OBLIGATIONS OF EACH OF THE PARTIES TO THE LOAN DOCUMENTS SHALL BE DETERMINED SOLELY FROM WRITTEN AGREEMENTS, DOCUMENTS, AND INSTRUMENTS, AND ANY PRIOR ORAL AGREEMENTS BETWEEN SUCH PARTIES ARE SUPERSEDED BY AND MERGED INTO SUCH WRITINGS.  THIS AGREEMENT, THE CREDIT AGREEMENT AND THE OTHER WRITTEN LOAN DOCUMENTS EXECUTED BY PARENT, BORROWER, ADMINISTRATIVE AGENT, THE SWING LINE LENDER, ANY ISSUING LENDER AND/OR LENDERS (TOGETHER WITH THE FEE LETTERS) REPRESENT THE FINAL AGREEMENT REGARDING THE MATTERS HEREIN BETWEEN SUCH PARTIES, AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BY SUCH PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN SUCH PARTIES.

 

[Signature Pages Follow]

 

6

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by their proper and duly authorized officer(s) as of the day and year first above written,

 

 

	
 
    	
MIDSTATES   PETROLEUM COMPANY LLC, a Delaware limited liability company, as Borrower
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Nelson M. Haight
    
	
 
    	
 
    	
Name:
    	
Nelson   M. Haight
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President and Chief Financial Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
MIDSTATES   PETROLEUM COMPANY, INC., a Delaware corporation, as Parent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Nelson M. Haight
    
	
 
    	
 
    	
Name:
    	
Nelson   M. Haight
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President and Chief Financial Officer
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
SUNTRUST   BANK, as Administrative Agent, as Swing Line Lender and as an Issuing Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Shannon Juhan
    
	
 
    	
 
    	
Name:
    	
Shannon   Juhan
    
	
 
    	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SUNTRUST   BANK, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Shannon Juhan
    
	
 
    	
 
    	
Name:
    	
Shannon   Juhan
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
BANK   OF AMERICA, N.A., as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Raza Jafferi
    
	
 
    	
 
    	
Name:
    	
Raza   Jafferi
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
CAPITAL   ONE, NATIONAL ASSOCIATION, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Tony Alexander
    
	
 
    	
 
    	
Name:
    	
Tony   Alexander
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
CITIBANK,   N.A., as Exiting Lender (joining only for purpose of Section 6 of this   Agreement)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Phillip Ballard
    
	
 
    	
 
    	
Name:
    	
Phillip   Ballard
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
GOLDMAN   SACHS BANK USA, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michelle Latzoni
    
	
 
    	
 
    	
Name:
    	
Michelle   Latzoni
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
KEYBANK   NATIONAL ASSOCIATION, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   George E. McKean
    
	
 
    	
 
    	
Name:
    	
George   E. McKean
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
MORGAN   STANLEY BANK, N.A., as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael King
    
	
 
    	
 
    	
Name:
    	
Michael   King
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
MORGAN   STANLEY SENIOR FUNDING, INC., as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael King
    
	
 
    	
 
    	
Name:
    	
Michael   King
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
NATIXIS,   NEW YORK BRANCH, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Justin Bellamy
    
	
 
    	
 
    	
Name:
    	
Justin   Bellamy
    
	
 
    	
 
    	
Title:
    	
Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stuart Murray
    
	
 
    	
 
    	
Name:
    	
Stuart   Murray
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
ROYAL   BANK OF CANADA, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Don J. McKinnerney
    
	
 
    	
 
    	
Name:
    	
Don   J. McKinnerney
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
SOCIÉTÉ   GÉNÉRALE, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   David Bornstein
    
	
 
    	
 
    	
Name:
    	
David   Bornstein
    
	
 
    	
 
    	
Title:
    	
Director
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
THE   ROYAL BANK OF SCOTLAND PLC, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   James L. Moyes
    
	
 
    	
 
    	
Name:
    	
James   L. Moyes
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

	
 
    	
THE   BANK OF NOVA SCOTIA, as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Alan Dawson
    
	
 
    	
 
    	
Name:
    	
Alan   Dawson
    
	
 
    	
 
    	
Title:
    	
Director
    

 

[Assignment and Borrowing Base Increase Agreement - Signature Page]

 

 

ANNEX A

 

SCHEDULE 2.01

 

COMMITMENTS AND
 PRO RATA SHARES

 

	
Lender
    	
 
    	
Maximum
   Loan Amount
    	
 
    	
Pro Rata Share
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SunTrust Bank
    	
 
    	
$
    	
99,285,714.29
    	
 
    	
13.23809523810
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Bank of America, N.A.
    	
 
    	
$
    	
89,285,714.29
    	
 
    	
11.90476190476
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Royal Bank of Canada
    	
 
    	
$
    	
81,428,571.43
    	
 
    	
10.85714285714
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Société Générale
    	
 
    	
$
    	
81,428,571.43
    	
 
    	
10.85714285714
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Morgan Stanley Bank, N.A.
    	
 
    	
$
    	
67,857,142.86
    	
 
    	
9.04761904762
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Morgan Stanley Senior Funding, Inc.
    	
 
    	
$
    	
27,142,857.14
    	
 
    	
3.61904761905
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Goldman Sachs Bank USA
    	
 
    	
$
    	
54,285,714.28
    	
 
    	
7.23809523810
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
The Bank of Nova Scotia
    	
 
    	
$
    	
54,285,714.28
    	
 
    	
7.23809523810
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Natixis
    	
 
    	
$
    	
52,500,000.00
    	
 
    	
7.00000000000
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Capital One, National Association
    	
 
    	
$
    	
47,500,000.00
    	
 
    	
6.33333333333
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
KeyBank National Association
    	
 
    	
$
    	
47,500,000.00
    	
 
    	
6.33333333333
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
The Royal Bank of Scotland plc
    	
 
    	
$
    	
47,500,000.00
    	
 
    	
6.33333333333
    	
%
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Citibank, N.A.
    	
 
    	
-0-
    	
 
    	
-0-
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total:
    	
 
    	
$
    	
750,000,000.00
    	
 
    	
100.0000000
    	
%
    

 

Annex A to Assignment and Borrowing Base Agreement

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