Document:

EX-10.1

 Exhibit 10.1 

EXECUTION COPY 

FIRST AMENDMENT dated as of May 12, 2017 (this “Amendment”), to the CREDIT AGREEMENT dated as of
June 26, 2015 (the “Credit Agreement”), among TRIPADVISOR, INC., TRIPADVISOR HOLDINGS, LLC, TRIPADVISOR LLC, the other BORROWING SUBSIDIARIES party thereto, the LENDERS party thereto, JPMORGAN CHASE BANK, N.A., as
Administrative Agent, and J.P. MORGAN EUROPE LIMITED, as London Agent. 
 WHEREAS, the Lenders have agreed to extend credit to the Borrowers
under the Credit Agreement on the terms and subject to the conditions set forth therein; 
 WHEREAS, Section 9.02(b) of the Credit Agreement
permits Parent to enter into waivers, amendments or modifications to the Credit Agreement and the other Loan Documents with the consent of the relevant Lenders as required pursuant to the terms thereof; 

WHEREAS, Parent has requested that the Credit Agreement be amended to (a) extend the Revolving Maturity Date to the fifth anniversary of
the First Amendment Effective Date (as defined below), (b) modify the pricing grid set forth in the definition of “Applicable Rate” as set forth herein and (c) effect certain other amendments to the Credit Agreement as set forth
herein; 
 WHEREAS, the parties hereto, which include each Person that will be a Lender as of the First Amendment Effective Date, are
willing to amend the Credit Agreement on the terms and subject to the conditions set forth herein; and 
 WHEREAS, JPMorgan Chase Bank,
N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’
investment banking, commercial lending services or related businesses may be transferred following the date hereof), BMO Capital Markets Corp., BNP Paribas Securities Corp., SunTrust Robinson Humphrey, Inc. and U.S. Bank National Association have
been appointed to act, and hereby agree to act, as joint lead arrangers and joint bookrunners for this Amendment (in such capacities, the “Amendment Arrangers”). 

NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1. Defined Terms. Capitalized terms
used but not otherwise defined herein (including in the recitals hereto) have the meanings assigned to them in the Credit Agreement. 

SECTION 2. Amendment of Credit Agreement. Effective as of the First Amendment Effective Date: 

(a) The Credit Agreement (excluding, except as set forth below, all Schedules and Exhibits thereto, each of which shall remain as in effect
immediately prior to the First Amendment Effective Date) is hereby amended by inserting the language indicated in double underlined text (indicated textually in the same manner as the following example: underlined text) in Exhibit A hereto and by deleting the language indicated by strikethrough text (indicated textually in the same
manner as the following example: stricken text) in Exhibit A hereto. 

 (b) Schedule 2.01 to the Credit Agreement is hereby amended and restated in its entirety to be in
the form of Schedule 2.01 hereto. 
 (c) Exhibit D to the Credit Agreement is hereby amended and restated in its entirety to be in the form
of Exhibit D hereto. 
 (d) Exhibit E to the Credit Agreement is hereby deleted in its entirety (and is reserved). 

SECTION 3. Concerning Commitments; Issuing Banks; Letter of Credit Participations. (a) Each Person whose name appears on Schedule
2.01 hereto acknowledges and agrees that, on and as of the First Amendment Effective Date, such Person shall be a Lender under the Credit Agreement as amended hereby (including as to the extension of the Revolving Maturity Date provided for
hereunder) and shall have a European Tranche Revolving Commitment as set forth next to the name of such Person on Schedule 2.01 hereto. Each party hereto acknowledges and agrees that, on and as of the First Amendment Effective Date,
Schedule 2.01 hereto sets forth all the Commitments of all the Lenders (and no Person whose name does not appear on Schedule 2.01 hereto shall have, or shall be deemed to have, as of the First Amendment Effective Date, a
Commitment under the Credit Agreement). 
 (b) Each Lender acknowledges and agrees that, on and as of the First Amendment Effective Date and
without any further action on the part of the applicable Issuing Bank or the Lenders, each Issuing Bank shall have granted to such Lender, and such Lender shall have acquired from such Issuing Bank, a participation in each Letter of Credit issued by
such Issuing Bank and outstanding on and as of the First Amendment Effective Date equal to such Lender’s Combined Tranche Percentage (as automatically redetermined on the First Amendment Effective Date based on the Commitments set forth on
Schedule 2.01 hereto) of the aggregate amount available to be drawn under such Letter of Credit. Such participation shall be governed by the terms of Section 2.06 of the Credit Agreement. 

SECTION 4. Representations and Warranties. Parent, each Borrowing Subsidiary and each other Loan Party represents and warrants to the
Lenders that: 
 (a) This Amendment has been duly executed and delivered by Parent, such Borrowing Subsidiary and such other Loan Party and
constitutes (assuming due execution by the parties hereto other than Parent, the Borrowing Subsidiaries and the other Loan Parties) a legal, valid and binding obligation of Parent, such Borrowing 

  
 2 

 
Subsidiary or such other Loan Party, as the case may be, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

(b) The representations and warranties of the Loan Parties set forth in the Credit Agreement, as amended hereby (assuming, for this purpose,
that the representation and warranty set forth in Section 3.04(b) of the Credit Agreement, as amended hereby, excludes any event, condition or circumstance that is disclosed in (i) Parent’s unaudited quarterly financial statements for the
fiscal quarter ended March 31, 2017 filed on Form 10-Q with the SEC or (ii) any publicly available press releases of Parent or publicly available filings by Parent with the SEC released or filed
prior to the date hereof, in each case excluding any such disclosure under the caption “Risk Factors” and any other disclosure that is cautionary, predictive or forward-looking in nature) and the other Loan Documents are true and correct
in all material respects (or, in the case of any such representation or warranty already qualified as to materiality, in all respects) on and as of the First Amendment Effective Date with the same effect as if made on and as of such date (except in
the case of any such representation and warranty that expressly relates to a prior date, in which case such representation and warranty were true and correct in all material respects on and as of such prior date (or, in the case of any such
representation or warranty already qualified as to materiality, in all respects on and as of such prior date)). 
 (c) As of the First
Amendment Effective Date, no Default or Event of Default has occurred and is continuing. 
 SECTION 5. Effectiveness. This Amendment
shall become effective as of the first date (the “First Amendment Effective Date”) on which: 
 (a) The Administrative
Agent shall have executed and delivered this Amendment, and the Administrative Agent or its counsel shall have received from Parent, each Borrowing Subsidiary, each other Loan Party, the London Agent and each Person whose name appears on Schedule
2.01 hereto either (i) a counterpart of this Amendment signed on behalf of such party or (ii) written evidence reasonably satisfactory to the Administrative Agent (which may include facsimile or other electronic transmission of a signed
signature page of this Agreement) that such party has signed a counterpart of this Amendment. 
 (b) The Administrative Agent shall have
received such documents and certificates as the Administrative Agent may reasonably request relating to the organization, existence and good standing of each Loan Party, the authorization of this Amendment by each Loan Party and other legal matters
relating to the Loan Parties and this Amendment, all in form and substance reasonably acceptable to the Administrative Agent. 
 (c) The
Administrative Agent shall have received a certificate, dated as of the First Amendment Effective Date and signed by a Financial Officer of Parent, 

  
 3 

 
confirming that (i) the representations and warranties of the Loan Parties set forth in this Agreement are true and correct in all material respects (or, in the case of any such
representation or warranty under the Credit Agreement already qualified as to materiality, in all respects) on and as of the First Amendment Effective Date (except in the case of any such representation and warranty that expressly relates to a prior
date, in which case such representation and warranty were true and correct in all material respects on and as of such prior date (or, in the case of any such representation or warranty already qualified as to materiality, in all respects on and as
of such prior date)) and (ii) as of the First Amendment Effective Date, no Default or Event of Default has occurred and is continuing. 

(d) The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent, the Lenders as of the
First Amendment Effective Date and the Issuing Banks and dated the First Amendment Effective Date) of each of (i) Goodwin Procter LLP, counsel for Parent and the Borrowing Subsidiaries and
(ii) in-house counsel for Parent, in each case in form and substance reasonably acceptable to the Administrative Agent. 

(e) The Administrative Agent and the Amendment Arrangers shall have received all fees due and payable on or prior to the First Amendment
Effective Date pursuant to any fee letter entered into in connection with this Amendment and, to the extent invoiced at least two Business Days prior to the First Amendment Effective Date, reimbursement or payment of all out-of-pocket expenses (including fees, charges and disbursements of counsel) required to be reimbursed or paid under the Credit Agreement. 

(f) The Administrative Agent shall have received, for the account of each Lender and each Issuing Bank party to the Credit Agreement
immediately prior to the effectiveness of this Amendment, all interest and fees accrued but unpaid under the Credit Agreement in respect of periods prior to the First Amendment Effective Date. 

The Administrative Agent shall notify the Borrowers, the Lenders and the Issuing Banks of the First Amendment Effective Date and such notice shall be
conclusive and binding. 
 SECTION 6. Reaffirmation. Each of the Loan Parties hereby acknowledges that it expects to receive
substantial direct and indirect benefits as a result of this Amendment and the transactions contemplated hereby. Each of the Loan Parties hereby further (a) acknowledges that the Obligations (as defined in the Guarantee Agreement) shall include
the due and punctual payment of (i) the principal of and interest (including interest (including default interest) accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether
allowed or allowable in such proceeding) on the Loans (including Loans made under the Credit Agreement as amended hereby), when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each
payment required to be made by any Borrower under the Credit Agreement, as amended hereby, in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to
provide cash collateral, and (iii) all other monetary obligations of each Loan Party under the Credit 

  
 4 

 
Agreement, as amended hereby, (b) affirms and confirms its guarantees, indemnification obligations and other commitments and obligations under the Guarantee Agreement and (c) agrees
that the Guarantee Agreement and all guarantees and other commitments and obligations under the Guarantee Agreement shall continue to be in full force and effect following the effectiveness of this Amendment (and shall be determined after giving
effect to the Credit Agreement, as amended hereby). 
 SECTION 7. Effect of this Amendment. (a) Except as expressly set forth
herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Agents, the Issuing Banks or the Lenders under the Credit Agreement or any other Loan Document,
and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall
continue in full force and effect. Nothing herein shall be deemed to entitle any Loan Party to any other consent to, or any other waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements
contained in the Credit Agreement or any other Loan Document in similar or different circumstances. 
 (b) On and after the First Amendment
Effective Date, each reference in the Credit Agreement to “this Agreement”, “herein”, “hereunder”, “hereto”, “hereof” and words of similar import shall refer to the Credit Agreement as amended
hereby, and each reference to the Credit Agreement in any other Loan Document shall be deemed to be a reference to the Credit Agreement as amended hereby. This Amendment shall constitute a “Loan Document” for all purposes of the Credit
Agreement and the other Loan Documents. 
 (c) It is agreed that the Amendment Arrangers and their Related Parties shall be entitled to the
benefits of Section 9.03(b) of the Credit Agreement and Section 14 of the Guarantee Agreement with respect to the arrangement of this Amendment, the preparation, execution and delivery of this Amendment and the consummation of the transactions
contemplated hereby to the same extent as the Arrangers and their Related Parties are entitled to the benefits of such Section in respect of the arrangement and the syndication of the credit facility under the Credit Agreement and the other matters
referred to in such Section. 
 (d) Each Lender and Issuing Bank, by delivering its signature page to this Amendment shall be deemed to have
acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be delivered to, or be approved by or satisfactory to, the Administrative Agent or the Lenders on or prior to the First Amendment
Effective Date. 
 SECTION 8. Applicable Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK. 

  
 5 

 SECTION 9. Counterparts. This Amendment may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original but all of which, when taken together, shall constitute a single instrument. Delivery of an executed counterpart of a signature page of this Amendment by facsimile
or other electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their
respective authorized officers as of the date first above written. 
  

							
	TRIPADVISOR, INC.
			
		 	by:	 	

		 		 	Name:	 	Seth J. Kalvert
		 		 	Title:	 	SVP, General Counsel and Secretary
	
	TRIPADVISOR HOLDINGS, LLC
			
		 	by:	 	

		 		 	Name:	 	Seth J. Kalvert
		 		 	Title:	 	Secretary
	
	TRIPADVISOR LLC
			
		 	by:	 	

		 		 	Name:	 	Seth J. Kalvert
		 		 	Title:	 	Secretary
	
	SMARTER TRAVEL MEDIA LLC
			
		 	by:	 	

		 		 	Name:	 	Seth J. Kalvert
		 		 	Title:	 	Secretary
	
	THE INDEPENDENT TRAVELER, INC.
			
		 	by:	 	

		 		 	Name:	 	Seth J. Kalvert
		 		 	Title:	 	Secretary

  
 [Signature Page to First
Amendment] 

 
							
	 FLIPKEY, INC. 

			
		 	by:	 	

		 		 	Name: Seth J. Kalvert
		 		 	Title:   Secretary
	
	 VACATION HOME RENTALS, INC. 

			
		 	by:	 	

		 		 	Name: Seth J. Kalvert
		 		 	Title:   Secretary
	
	 VIATOR, INC. 

			
		 	by:	 	

		 		 	Name: Seth J. Kalvert
		 		 	Title:   Secretary
	
	 OYSTER TRAVEL CORPORATION 

			
		 	by:	 	

		 		 	Name: Seth J. Kalvert
		 		 	Title:   Secretary

  
 [Signature Page to First
Amendment] 

 
							
	JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent, Issuing Bank and Swingline Lender,
			
		 	by:	 	

		 		 	Name:	 	Peter B. Thauer
		 		 	Title:	 	Managing Director
	
	J.P. MORGAN EUROPE LIMITED, as London
	Agent,	 		 	
			
		 	by:	 	 
		 		 	Name:	 	
		 		 	Title:	 	

  
 [Signature Page to First
Amendment] 

 
							
	JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent, Issuing Bank and Swingline Lender,
			
		 	by:	 	  

		 		 	Name:	 	
		 		 	Title:	 	
	
	J.P. MORGAN EUROPE LIMITED, as London Agent,
			
		 	by:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	
		 		 		 	Authorised Signatory
		 		 		 	Belinda Lucas
		 		 		 	Associate

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 

 

							
	Name of Institution: BANK OF AMERICA, N.A.
			
		 	by:	 	 

  

		 		 	Name: Marie F. Harrison
		 		 	Title:   Director

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

 
							
	BMO Harris Bank N.A. (with each Lender that is also an Issuing Bank executing both in its capacity as a Lender and as an Issuing Bank):
			
		 	by:	 	 

  

		 		 	Name: Christina Boyle
		 		 	Title:   Managing Director

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

 
							
	BNP Paribas (with each Lender that is also an Issuing Bank executing both in its capacity as a Lender and as an Issuing Bank):
			
		 	by:	 	 

  

		 		 	Name:                     Nicole Rodriguez
		 		 	Title:                               Director
			
		 	by:	 	 

  

		 		 	Name:                     Gregoire Poussard
		 		 	Title:                          Vice President

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

 
							
	Name of Institution (with each Lender that is also an Issuing Bank executing both in its capacity as a Lender and as an Issuing Bank):
			
		 	by:	 	SUNTRUST BANK
			
		 		 	

		 		 	  

		 		 	Name:	 	MARSHALL T. MANGUM, III
		 		 	Title:	 	DIRECTOR

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

							
	Name of Institution (with each Lender that is also an Issuing Bank executing both in its capacity as a Lender and as an Issuing Bank): U.S. Bank National Association
			
		 	by:	 	

		 		 	  

		 		 	Name: Lukas Coleman
		 		 	Title:   Vice President

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

 
							
	Barclays Bank PLC:
			
		 	by:	 	

		 		 	  

		 		 	Name: Vanessa Kurbatskiy
		 		 	Title:   Vice President

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

 
							
	MORGAN STANLEY BANK, N.A.:
			
		 	by:	 	

		 		 	  

		 		 	Name: Michael King
		 		 	Title:   Authorized Signatory

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

 
							
	Name of Institution (with each Lender that is also an Issuing Bank executing both in its capacity as a Lender and as an Issuing Bank):
			
		 		 	Wells Fargo Bank, National Association
			
		 	by:	 	

		 		 	  

		 		 	Name: Debra E. DelVecchio
		 		 	Title:   Senior Vice President
	
	Name of Institution:
			
		 	by:	 	
		 		 	  

		 		 	Name:
		 		 	Title:

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

 
							
	The Bank of Tokyo-Mitsubishi UFJ, Ltd. as a Lender:
			
		 	by:	 	

		 		 	  

		 		 	Name: Ola Anderssen
		 		 	Title:   Director

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

 
							
	Citibank, N.A.:
			
		 	by:	 	

		 		 	  

		 		 	Name: Keith Lukasavich
		 		 	Title:   Vice President & Managing Director

  
 [Signature Page to First
Amendment] 

 LENDER SIGNATURE PAGE TO 

FIRST AMENDMENT TO 
 THE CREDIT
AGREEMENT DATED AS OF JUNE 26, 2015 
 OF TRIPADVISOR, INC. 
  

 
							
	Name of Institution:	 	 DEUTSCHE BANK AG NEW YORK BRANCH as lender 

							
			
		 	by:	 	

		 		 	  

		 		 	Name: Virginia Cosenza
		 		 	Title:   Vice President
			
		 	by:	 	

		 		 	  

		 		 	Name: Ming K Chu
		 		 	Title:   Director

  
 [Signature Page to First
Amendment] 

 EXHIBIT A 

Amendments to Credit Agreement 

 EXHIBIT A 

MARKED VERSION REFLECTING CHANGES 

PURSUANT TO FIRST AMENDMENT 

ADDED TEXT SHOWN UNDERSCORED 

DELETED TEXT SHOWN STRIKETHROUGH 

 
  

 
 CREDIT AGREEMENT 

dated as of 
 June 26, 2015,

 as amended as of May 12, 2017, 
 among 

TRIPADVISOR, INC., 
 TRIPADVISOR
HOLDINGS, LLC, 
 TRIPADVISOR LLC 

and 
 The other BORROWERS Party
Hereto, 
 The LENDERS Party Hereto, 

JPMORGAN CHASE BANK, N.A., 
 as
Administrative Agent, 
 and 

J.P. MORGAN EUROPE LIMITED, 
 as
London Agent 
  
  

J.P. MORGAN SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INCJPMORGAN CHASE BANK, N.A., MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, BMO CAPITAL MARKETS CORP., BNP PARIBAS SECURITIES CORP., SUNTRUST ROBINSON HUMPHREY,
INC., WELLS FARGO SECURITIES, LLC, RBC CAPITAL MARKETS1, BARCLAYS BANK PLC, and U.S. BANK NATIONAL ASSOCIATION, and CITIGROUP GLOBAL
MARKETS INC., 
 as Joint Lead Arrangers and Joint Bookrunners,THE 
 BANK OF TOKYO-MITSUBISHI UFJ, LTD., GOLDMAN SACHS BANK USA and DEUTSCHE BANK SECURITIES INC., 

as Co-Managers,

 ROYAL BANK OF CANADA and BANK OF AMERICA, N.A., BMO CAPITAL MARKETS CORP., BNP PARIBAS SECURITIES CORP., SUNTRUST ROBINSON HUMPHREY, INC. and U.S. BANK NATIONAL
ASSOCIATION, 
 as Co-Syndication Agents, 
 SUNTRUST BANK and BNP PARIBAS, 

  
 1    RBC
 Capital Markets is a brand name for the capital markets business of Royal Bank of Canada and its affiliates. 

[CS&M Ref. No. 6702-045] 

 BARCLAYS BANK PLC, MORGAN STANLEY SENIOR FUNDING, INC. and WELLS FARGO BANK,
NATIONAL ASSOCIATION,  
 as Co-Documentation Agents 

 
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	
	ARTICLE I	 
	
	Definitions	 
			
	 SECTION 1.01.
	 	 Defined Terms
	  	 	1	 
	 SECTION 1.02.
	 	 Classification of Loans and Borrowings
	  	 	3740	 
	 SECTION 1.03.
	 	 Terms Generally
	  	 	3840	 
	 SECTION 1.04.
	 	 Accounting Terms; GAAP; Pro Forma Calculations
	  	 	3841	 
	 SECTION 1.05.
	 	 Currency Translation
	  	 	3942	 
	
	ARTICLE II	 
	
	The Credits	 
			
	 SECTION 2.01.
	 	 Commitments
	  	 	4143	 
	 SECTION 2.02.
	 	 Loans and Borrowings
	  	 	4144	 
	 SECTION 2.03.
	 	 Requests for Borrowings
	  	 	4245	 
	 SECTION 2.04.
	 	 Borrowing Subsidiaries
	  	 	4346	 
	 SECTION 2.05.
	 	 Swingline Loans
	  	 	4446	 
	 SECTION 2.06.
	 	 Letters of Credit
	  	 	4648	 
	 SECTION 2.07.
	 	 Funding of Borrowings
	  	 	5356	 
	 SECTION 2.08.
	 	 Interest Elections
	  	 	5356	 
	 SECTION 2.09.
	 	 Termination and Reduction of Commitments; Increase of Revolving Commitments
	  	 	5558	 
	 SECTION 2.10.
	 	 Repayment of Loans; Evidence of Debt
	  	 	5861	 
	 SECTION 2.11.
	 	 Prepayment of Loans
	  	 	5962	 
	 SECTION 2.12.
	 	 Fees
	  	 	6063	 
	 SECTION 2.13.
	 	 Interest
	  	 	6164	 
	 SECTION 2.14.
	 	 Alternate Rate of Interest
	  	 	6265	 
	 SECTION 2.15.
	 	 Increased Costs
	  	 	6366	 
	 SECTION 2.16.
	 	 Break Funding Payments
	  	 	6568	 
	 SECTION 2.17.
	 	 Taxes
	  	 	6569	 
	 SECTION 2.18.
	 	 Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	  	 	7174	 
	 SECTION 2.19.
	 	 Mitigation Obligations; Replacement of Lenders
	  	 	7376	 
	 SECTION 2.20.
	 	 Defaulting Lenders
	  	 	7478	 
	 SECTION 2.21.
	 	 Incremental Term Loans
	  	 	7680	 
	
	ARTICLE III	 
	
	Representations and Warranties	 
			
	 SECTION 3.01.
	 	 Organization; Powers
	  	 	7882	 
	 SECTION 3.02.
	 	 Authorization; Enforceability
	  	 	7982	 

  
 i 

							
	 SECTION 3.03.
	 	 Governmental Approvals; No Conflicts
	  	 	7982	 
	 SECTION 3.04.
	 	 Financial Condition; No Material Adverse Change
	  	 	7983	 
	 SECTION 3.05.
	 	 Properties
	  	 	8083	 
	 SECTION 3.06.
	 	 Litigation and Environmental Matters
	  	 	8083	 
	 SECTION 3.07.
	 	 Compliance with Laws and Agreements
	  	 	8084	 
	 SECTION 3.08.
	 	 Investment Company Status
	  	 	8084	 
	 SECTION 3.09.
	 	 Taxes
	  	 	8084	 
	 SECTION 3.10.
	 	 ERISA
	  	 	8184	 
	 SECTION 3.11.
	 	 Disclosure
	  	 	8184	 
	 SECTION 3.12.
	 	 Guarantee Requirement
	  	 	8185	 
	 SECTION 3.13.
	 	 Subsidiaries
	  	 	8185	 
	 SECTION 3.14.
	 	 Use of Proceeds; Margin Regulations
	  	 	8185	 
	 SECTION 3.15.
	 	 Borrowing Subsidiaries
	  	 	8285	 
	 SECTION 3.16.
	 	 Anti-Corruption Laws and Sanctions
	  	 	8285	 
	 SECTION 3.17.
	 	 EEA Financial Institutions
	  	 	86	 
	
	ARTICLE IV	 
	
	Conditions	 
			
	 SECTION 4.01.
	 	 Original Effective Date
	  	 	8286	 
	 SECTION 4.02.
	 	 Each Credit Event
	  	 	8487	 
	 SECTION 4.03.
	 	 Credit Events in Respect of Each Borrowing Subsidiary
	  	 	8488	 
	
	ARTICLE V	 
	
	Affirmative Covenants	 
			
	 SECTION 5.01.
	 	 Financial Statements and Other Information
	  	 	8589	 
	 SECTION 5.02.
	 	 Notices of Material Events
	  	 	8791	 
	 SECTION 5.03.
	 	 Existence; Conduct of Business
	  	 	8791	 
	 SECTION 5.04.
	 	 Payment of Tax Liabilities
	  	 	8891	 
	 SECTION 5.05.
	 	 Maintenance of Properties; Insurance
	  	 	8891	 
	 SECTION 5.06.
	 	 Books and Records; Inspection Rights
	  	 	8892	 
	 SECTION 5.07.
	 	 Compliance with Laws
	  	 	8892	 
	 SECTION 5.08.
	 	 Further Assurances
	  	 	8992	 
	
	ARTICLE VI	 
	
	Negative Covenants	 
			
	 SECTION 6.01.
	 	 Indebtedness
	  	 	8993	 
	 SECTION 6.02.
	 	 Liens
	  	 	9195	 
	 SECTION 6.03.
	 	 Sale/Leaseback Transactions
	  	 	9396	 
	 SECTION 6.04.
	 	 Fundamental Changes; Business Activities
	  	 	9397	 
	 SECTION 6.05.
	 	 Restricted Payments
	  	 	9497	 
	 SECTION 6.06.
	 	 Transactions with Affiliates
	  	 	9498	 
	 SECTION 6.07.
	 	 Restrictive Agreements
	  	 	9599	 

  
 ii 

							
	 SECTION 6.08.
	 	 Asset Dispositions
	  	 	9699	 
	 SECTION 6.09.
	 	 Use of Proceeds and Letters of Credit; Margin Regulations
	  	 	99103	 
	 SECTION 6.10.
	 	 Leverage Ratio
	  	 	99103	 
	 SECTION 6.11.
	 	 Maintenance of Borrowing Subsidiaries as Wholly Owned Subsidiaries
	  	 	100103	 
	
	ARTICLE VII	 
	
	Events of Default	 
			
	 SECTION 7.01.
	 	 Events of Default
	  	 	100104	 
	 SECTION 7.02.
	 	 CAM Exchange
	  	 	102106	 
	
	ARTICLE VIII	 
	
	The Agents	 
	
	ARTICLE IX	 
	
	Miscellaneous	 
			
	 SECTION 9.01.
	 	 Notices
	  	 	107111	 
	 SECTION 9.02.
	 	 Waivers; Amendments
	  	 	108113	 
	 SECTION 9.03.
	 	 Expenses; Indemnity; Damage Waiver
	  	 	110115	 
	 SECTION 9.04.
	 	 Successors and Assigns
	  	 	112117	 
	 SECTION 9.05.
	 	 Survival
	  	 	116121	 
	 SECTION 9.06.
	 	 Counterparts; Integration; Effectiveness; Issuing Banks
	  	 	117122	 
	 SECTION 9.07.
	 	 Severability
	  	 	117122	 
	 SECTION 9.08.
	 	 Right of Setoff
	  	 	118123	 
	 SECTION 9.09.
	 	 Governing Law; Jurisdiction; Consent to Service of Process
	  	 	118123	 
	 SECTION 9.10.
	 	 WAIVER OF JURY TRIAL
	  	 	119124	 
	 SECTION 9.11.
	 	 Headings
	  	 	120125	 
	 SECTION 9.12.
	 	 Confidentiality
	  	 	120125	 
	 SECTION 9.13.
	 	 Interest Rate Limitation
	  	 	121126	 
	 SECTION 9.14.
	 	 Release of Guarantees
	  	 	121126	 
	 SECTION 9.15.
	 	 Conversion of Currencies
	  	 	122127	 
	 SECTION 9.16.
	 	 USA Patriot Act Notice
	  	 	122127	 
	 SECTION 9.17.
	 	 No Fiduciary Relationship
	  	 	122127	 
	 SECTION 9.18.
	 	 Non-Public Information
	  	 	123128	 
	 SECTION 9.19.
	 	 Notices under Existing Credit Agreement123Acknowledgement and Consent to Bail-In of EEA Financial Institutions.
	  	 	129	 

  
 iii 

					
	SCHEDULES:	 		  	
			
	Schedule 2.01	 	–	  	Commitments
	Schedule 2.06	 	–	  	Initial Issuing Bank LC Commitment
	Schedule 2.06A	 	–	  	Existing Letters of Credit
	Schedule 3.13	 	–	  	Subsidiaries
	Schedule 6.01	 	–	  	Existing Indebtedness
	Schedule 6.02	 	–	  	Existing Liens
	Schedule 6.07	 	–	  	Existing Restrictions
	Schedule 9.12	 	–	  	Participant Confidentiality Restricted List
			
	EXHIBITS:	 		  	
			
	Exhibit A	 	–	  	Form of Assignment and Assumption
	Exhibit B	 	–	  	Form of Borrowing Request
	Exhibit C-1	 	–	  	Form of Borrowing Subsidiary Agreement
	Exhibit C-2	 	–	  	Form of Borrowing Subsidiary Termination
	Exhibit D	 	–	  	Form of Compliance Certificate
	Exhibit E	 	–	  	Form of Guarantee Agreement[Reserved]
	Exhibit F	 	–	  	Form of Interest Election Request
	Exhibit G	 	–	  	Form of Issuing Bank Agreement
	Exhibit H-1	 	–	  	Form of U.S. Tax Compliance Certificate for Foreign Lenders that are not Partnerships for U.S. Federal Income
	Exhibit H-2	 	–	  	Form of U.S. Tax Compliance Certificate for Non-U.S. Participants that are not Partnerships for U.S. Federal Income Tax Purposes
	Exhibit H-3	 	–	  	Form of U.S. Tax Compliance Certificate for Non-U.S. Participants that are Partnerships for U.S. Federal Income Tax Purposes
	Exhibit H-4	 	–	  	Form of U.S. Tax Compliance Certificate for Foreign Lenders that are Partnerships for U.S. Federal Income Tax Purposes

  
 iv 

 CREDIT AGREEMENT dated as of June 26, 2015, as amended as of May 12, 2017, among TRIPADVISOR, INC., a Delaware corporation; TRIPADVISOR HOLDINGS, LLC, a Massachusetts
limited liability company; TRIPADVISOR LLC, a Delaware limited liability company; the other BORROWERS from time to time party hereto; the LENDERS from time to time party hereto; JPMORGAN CHASE BANK, N.A., as Administrative Agent; and J.P. MORGAN
EUROPE LIMITED, as London Agent. 
 The parties hereto agree as follows: 

ARTICLE I 
 Definitions

 SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing,
shall bear interest at a rate determined by reference to the Alternate Base Rate. 
 “Adjusted LIBO Rate” means (a), with respect to any Eurocurrency Borrowing
denominated in US Dollars for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1.00%) equal to (ia) the LIBO Rate for such Interest Period multiplied by
(iib) the Statutory Reserve Rate and (b) with respect to any Eurocurrency Borrowing denominated in an Alternative Currency (other than Euros) for any Interest Period, an interest rate per annum (rounded upwards, if
necessary, to the next 1/16 of 1.00%) equal to the LIBO Rate for such Interest Period. 

“Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent hereunder and under the other
Loan Documents, and its successors in such capacity as provided in Article VIII, or such Affiliates or branches thereof as it shall from time to time designate by notice to Parent and the Lenders for the purpose of performing any of its obligations
hereunder or under any other Loan Document. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a
form supplied by the Administrative Agent. 
 “Affiliate” means, with respect to a specified Person, another Person that
directly or indirectly Controls or is Controlled by or is under common Control with the Person specified. 
 “Affiliated
Holders” means, with respect to any specified natural person, (a) such specified natural person’s parents, spouse, siblings, descendants, step children, step grandchildren, nieces and nephews and their respective spouses,
(b) the estate, legatees and devisees of such specified natural person and each of the Persons referred to in clause (a) of this definition, and (c) any company, partnership, trust or other entity or investment vehicle Controlled by
such specified natural person or any of the Persons referred to in clause (a) or (b) of this definition or the holdings of which are for the primary benefit of such specified natural person or any of the Persons referred to in clause
(a) or (b) of this definition. 

 “Agents” means the Administrative Agent and the London Agent. 

“Agreement” means this Credit Agreement. 

“Agreement Currency” has the meaning assigned to such term in Section 9.15(b). 

“Aggregate European Tranche Revolving Commitment” means, at any time, the sum of the European Tranche Revolving Commitments
of all the European Tranche Revolving Lenders at such time. 
 “Aggregate European Tranche Revolving Exposure” means, at
any time, the sum of the European Tranche Revolving Exposures of all the European Tranche Revolving Lenders at such time; provided that for purposes of this definition, the European Tranche Share of the Swingline Exposure of the European
Tranche Revolving Lender that is also the Swingline Lender shall be determined disregarding the proviso set forth in the definition of the term European Tranche Revolving Exposure. 

“Aggregate US Tranche Revolving Commitment” means, at any time, the sum of the US Tranche Revolving Commitments of all the US
Tranche Revolving Lenders at such time. 
 “Aggregate US Tranche Revolving Exposure” means, at any time, the sum of the US
Tranche Revolving Exposures of all the US Tranche Revolving Lenders at such time; provided that for purposes of this definition, the US Tranche Share of the Swingline Exposure of the US Tranche Revolving Lender that is also the Swingline
Lender shall be determined disregarding the proviso set forth in the definition of the term US Tranche Revolving Exposure. 

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such
day, (b) the New York Fed Bank Rate in effect on such day plus 1/2 of 1.00% per annum and (c) the Adjusted LIBO Rate on such day (or, if such day is not a Business Day, the immediately preceding Business Day) for a deposit in US
Dollars with a maturity of one month plus 1.00% per annum. For purposes of clause (c) above, the Adjusted LIBO Rate on any day shall be based on the rate per annum appearing
on the applicable Reuters screen page (currently page LIBOR01) displaying interest rates for US Dollar deposits in the London interbank market as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) (or, in the event such rate does not
appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time)Screen Rate at approximately 11:00 a.m., London time, on such day for deposits in US Dollars with a maturity of one month;
provided that if such rate shall be less than zero, such rate shall be deemed to be zero. Any change in the Alternate Base Rate due to a change in the Prime Rate, the New York Fed Bank Rate or the Adjusted LIBO Rate shall be effective from
and including the effective date of such change in the Prime Rate, the New York Fed Bank Rate or the Adjusted LIBO Rate, as the case may be. 

  
 2 

 “Alternative Currency” means Euro, Sterling and any other currency (other than
US Dollars) that is freely available, freely transferable and freely convertible into US Dollars and in which dealings in deposits are carried on in the London interbank market; provided that at the time of the issuance, amendment, renewal or
extension of any Letter of Credit denominated in a currency other than US Dollars, Euro or Sterling, such other currency is reasonably acceptable to the Applicable Agent and the Issuing Bank in respect of such Letter of Credit. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to Parent or its Subsidiaries
(or, as such term is used in the definition of the term “Liberty Successor”, to Liberty Successor) from time to time concerning or relating to bribery or corruption, including the United States Foreign Corrupt Practices Act of 1977. 

“Applicable Agent” means (a) with respect to a Loan or Borrowing denominated in US Dollars or any Letter of Credit, and
with respect to any payment hereunder that does not relate to a particular Loan or Borrowing, the Administrative Agent and (b) with respect to a Loan or Borrowing denominated in any Alternative Currency, the London Agent. 

“Applicable Creditor” has the meaning assigned to such term in Section 9.15(b). 

“Applicable Rate” means, for any day, (a) with respect to any ABR Revolving Loan, Swingline Loan or Eurocurrency
Revolving Loan, or with respect to the commitment fees payable hereunder, as the case may be, the applicable rate per annum set forth in the table below under the caption “ABR Spread”, “Eurocurrency Spread” or “Commitment
Fee Rate”, as the case may be, based upon the Leverage Ratio as of the end of the fiscal quarter of Parent for which consolidated financial statements have theretofore been most recently delivered pursuant to Section 5.01(a) or 5.01(b),
provided that until the date of the delivery of the consolidated financial statements pursuant to Section 5.01(a) or 5.01(b) as of and for the fiscal quarter ended June 30, 2015, the Applicable Rate shall be based on the rates per
annum set forth in Level 1, and (b) with respect to any Incremental Term Loan, the rate or rates per annum set forth in the applicable Incremental Facility Agreement. 
  

																	
	 Level
	  	Level 1	 	 	Level 2	 	 	Level 3	 	 	Level 4	 
	 Leverage Ratio
	  	 	£1.50	 	 	 	>1.50 and £2.50	 	 	 	>2.50 and £3.00	 	 	 	> 3.00	 
	 Commitment Fee Rate
	  	 	0.200.15	% 	 	 	0.250.20	% 	 	 	0.25	% 	 	 	0.30	% 
	 Eurocurrency Spread
	  	 	1.25	% 	 	 	1.50	% 	 	 	1.75	% 	 	 	2.00	% 
	 ABR Spread
	  	 	0.25	% 	 	 	0.50	% 	 	 	0.75	% 	 	 	1.00	% 

 For purposes of the foregoing, each change in the Applicable Rate resulting from a change in the Leverage Ratio shall be
effective during the period commencing on and including the Business Day following the date of delivery to the Administrative Agent pursuant to Section 5.01(a) or 5.01(b) of the consolidated financial statements indicating such change and
ending on the date immediately preceding the effective date of the next such change. Notwithstanding the foregoing, the Applicable Rate shall be based on the rates per annum set forth in Level 4 if Parent shall fail to deliver the consolidated
financial statements required to be delivered pursuant to Section 5.01(a) or 5.01(b), or any compliance certificateCompliance Certificate required to be delivered 

  
 3 

 
pursuant to Section 5.01(c), within the time periods specified herein for such delivery, during the period commencing on and including the day of the occurrence of a Default resulting from
such failure and until the delivery thereof. 
 “Approved Fund” means any Person (other than a natural person) that is
engaged in making, purchasing, holding or investing in commercial loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by a Lender, an Affiliate of a Lender or an entity or an Affiliate of
an entity that administers or manages a Lender. 
 “Arrangers” means J.P. Morgan Securities LLC, Morgan Stanley Senior Funding, IncJPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’
investment banking, commercial lending services or related businesses may be transferred following the date hereof), BMO Capital Markets Corp., BNP Paribas Securities Corp., SunTrust Robinson
Humphrey, Inc., Wells Fargo Securities, LLC, RBC Capital Markets2, Barclays Bank PLC, and U.S. Bank National Association, and Citigroup Global
Markets Inc., in their capacities as joint lead arrangers and joint bookrunners for the credit facilities provided for herein. 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the
consent of any Person whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent. 

“Attributable Debt” means, with respect to any Sale/Leaseback Transaction, the present value (discounted at the rate set
forth or implicit in the terms of the lease included in such Sale/Leaseback Transaction) of the total obligations of the lessee for rental payments (other than amounts required to be paid on account of taxes, maintenance, repairs, insurance,
assessments, utilities, operating and labor costs and other items that do not constitute payments for property rights) during the remaining term of the lease included in such Sale/Leaseback Transaction (including any period for which such lease has
been extended). In the case of any lease that is terminable by the lessee upon payment of a penalty, the Attributable Debt shall be the lesser of the Attributable Debt determined assuming termination on the first date such lease may be terminated
(in which case the Attributable Debt shall also include the amount of the penalty, but no rent shall be considered as required to be paid under such lease subsequent to the first date upon which it may be so terminated) or the Attributable Debt
determined assuming no such termination. 
 “Bail-In Action”
means, as to any EEA Financial Institution, the exercise of any Write-Down and Conversion Powers by an applicable EEA Resolution Authority in respect of any liability of such EEA Financial Institution. 
 “Bail-In
Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law or regulation for such EEA Member Country from
time to time that is described in the EU Bail-In Legislation Schedule. 
 2  RBC Capital Markets is a brand name for the capital markets business of Royal Bank of Canada and its
affiliates. 

  
 4 

 “Bankruptcy Code” means Title 11 of the United States Code. 

“Bankruptcy Event” means, with respect to any Person, that such Person becomes the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith
determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that (a) a Bankruptcy Event shall not result
solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority, so long as such ownership interest does not result in or provide such Person with immunity from the jurisdiction of
courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such
Person, and (b) a Bankruptcy Event shall not result solely by virtue of an Undisclosed Administration. 
 “Board of
Governors” means the Board of Governors of the Federal Reserve System of the United States of America. 
 “Borrower DTTP
Filing” means an HMRC’s Form DTTP2, duly completed and filed by the applicable UK Loan Party, within the applicable time limit, which contains the scheme reference number and jurisdiction of tax residence provided by the applicable
Lender to Parent and the London Agent. 
 “Borrowers” means Parent and the Borrowing Subsidiaries. 

“Borrowing” means (a) Loans of the same Class, Type and currency, made, converted or continued on the same date and to
the same Borrower and, in the case of Eurocurrency Loans, as to which a single Interest Period is in effect, or (b) a Swingline Loan. 

“Borrowing Minimum” means (a) in the case of a Borrowing denominated in US Dollars, US$5,000,000, (b) in the case
of a Borrowing denominated in Euro, €5,000,000 and (c) in the case of a Borrowing denominated in Sterling, £5,000,000. 

“Borrowing Multiple” means (a) in the case of a Borrowing denominated in US Dollars, US$1,000,000, (b) in the case
of a Borrowing denominated in Euro, €1,000,000 and (c) in the case of a Borrowing denominated in Sterling, £1,000,000. 

“Borrowing Request” means a request by or on behalf of a Borrower for a Borrowing in accordance with Section 2.03 or
2.05, as applicable, which shall be, in the case of any such written request, in the form of Exhibit B or any other form approved by the Administrative Agent. 

“Borrowing Subsidiary” means, at any time, (a) TripAdvisor LLC, (b) TripAdvisor Holdings and (c) any
Subsidiary that has been designated by Parent as a Borrowing Subsidiary pursuant to Section 2.04, other than any Subsidiary that has ceased to be a Borrowing Subsidiary as provided in Section 2.04. 

  
 5 

 “Borrowing Subsidiary Agreement” means a Borrowing Subsidiary Agreement
substantially in the form of Exhibit C-1. 
 “Borrowing Subsidiary Termination” means a Borrowing Subsidiary Termination
substantially in the form of Exhibit C-2. 
 “Business Day” means any day that is not a Saturday, Sunday or other day on
which commercial banks in New York City are authorized or required by law to remain closed; provided that (a) when used in connection with a Eurocurrency Loan denominated in any currency or a Letter of Credit denominated in an
Alternative Currency, the term “Business Day” shall also exclude any day on which banks are not open for dealings in deposits denominated in such currency in the London interbank market or any day on which banks in London are not open for
general business and (b) when used in connection with a Eurocurrency Loan denominated in Euro, the term “Business Day” shall also exclude any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer
(TARGET2) payment system is not open for the settlement of payments in Euro or on any day on which banks in London are not open for general business. 

“CAM Exchange” means the exchange of the Revolving Lenders’ interests provided for in Section 7.02. 

“CAM Exchange Date” means the first date on which there shall occur (a) any event referred to in Section 7.01(h) or
7.01(i) in respect of Parent or (b) an acceleration of Loans pursuant to Section 7.01. 
 “CAM Percentage” means,
with respect to each Revolving Lender, a fraction, expressed as a decimal, of which (a) the numerator shall be the sum of the US Dollar Equivalents (determined on the CAM Exchange Date on the basis of Exchange Rates on such date) of the
aggregate Designated Obligations owed to such Revolving Lender (whether or not at the time due and payable) and (b) the denominator shall be the sum of the US Dollar Equivalents (as so determined) of the aggregate Designated Obligations owed to
all the Revolving Lenders (whether or not at the time due and payable). 
 “Capital Lease Obligations” of any Person means
the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for
as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. For purposes of Section 6.02 only, a Capital Lease Obligation shall
be deemed to be secured by a Lien on the property being leased and such property shall be deemed to be owned by the lessee. 

“Capped Adjustments” means (a) any additions to Consolidated EBITDA pursuant to clause (a)(vi) of the definition of such
term and (b) any Pro Forma Capped Adjustments. 
 “CFC” means any Subsidiary that is a “controlled foreign
corporation” (within the meaning of Section 957(a) of the Code). 

  
 6 

 “CFC Domestic Holdco” means any Domestic Subsidiary that has no material assets
other than (a) Equity Interests in and/or debt securities of one or more CFCs and (b) cash and cash equivalents and other assets being held on a temporary basis or otherwise incidental to the holding of assets described in clause (a). 

“Change in Control” means the acquisition of “beneficial ownership” (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act and the rules of the SEC thereunder as in effect on the date hereof), directly or indirectly, by any Person or group (within the meaning of the Exchange Act and the rules of the SEC thereunder as in effect on the date hereof), other
than the Permitted Holders (or a group Controlled by Permitted Holders), of shares representing more than 35% of the total voting power represented by the issued and outstanding capital stock of Parent (the “Total Voting Power”),
unless either (a) the Permitted Holders beneficially own a majority of the Total Voting Power or (b) if the Permitted Holders beneficially own less than a majority of the Total Voting Power, the Total Voting Power represented by the shares
beneficially owned by the Permitted Holders exceeds the Total Voting Power represented by shares beneficially owned by such acquiring Person or group. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or
taking effect of any rule, regulation, treaty or other law, (b) any change in any rule, regulation, treaty or other law or in the administration, interpretation, implementation or application thereof by any Governmental Authority or
(c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that, notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall
Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International
Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in
Law”, regardless of the date enacted, adopted, promulgated or issued. 
 “Charges” has the meaning assigned to such
term in Section 9.13. 
 “Class”, when used in reference to (a) any Loan or Borrowing, refers to whether such
Loan, or the Loans comprising such Borrowing, are US Tranche Revolving Loans, European Tranche Revolving Loans, Swingline Loans or Incremental Term Loans of any Series, (b) any Commitment, refers to whether such Commitment is a US Tranche
Revolving Commitment, European Tranche Revolving Commitment or Incremental Term Commitment of any Series and (c) any Lender, refers to whether such Lender has a Loan or Commitment of a particular Class. 

“Code” means the Internal Revenue Code of 1986. 

“Combined Tranche Percentage” means, at any time, with respect to any Revolving Lender, the percentage of the total Revolving
Commitments represented by such Lender’s Revolving Commitments at such time; provided that, for purposes of Section 2.20 when any Revolving Lender shall be a Defaulting
Lender, “Combined Tranche Percentage” shall mean, with respect to any Revolving Lender, the percentage of the total 

  
 7 

 
Revolving Commitments (disregarding any Defaulting Lender’s Revolving Commitment) represented by such Lender’s Revolving
Commitment. If all the Revolving Commitments have terminated or expired, the Combined Tranche Percentages shall be determined based upon the Revolving Commitments most recently in effect,
giving effect to any assignments. 
 “Commitment” means a European Tranche Revolving Commitment, a US Tranche
Revolving Commitment, an Incremental Term Commitment of any Series or any combination thereof, as the context requires. 

“Commitment Decrease” means any reduction of the Revolving Commitments of any Class pursuant to Section 2.09(b). 

“Commitment Increase” has the meaning assigned to such term in Section 2.09(d)(i). 

“Commitment Letter” means that certain Commitment Letter dated June 10, 2015, among Parent, JPMorgan Chase Bank, N.A.,
J.P. Morgan Securities LLC, Morgan Stanley Senior Funding, Inc., Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas, BNP Paribas Securities Corp., SunTrust Bank, SunTrust Robinson Humphrey, Inc., Wells
Fargo Bank, National Association, Wells Fargo Securities, LLC, Royal Bank of Canada, RBC Capital Markets, Barclays Bank PLC, U.S. Bank National Association, Citigroup Global Markets Inc., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Goldman Sachs Bank
USA, Deutsche Bank AG New York Branch and Deutsche Bank Securities Inc. 
 “Communications” means, collectively, any
notice, demand, communication, information, document or other material provided by or on behalf of any Loan Party pursuant to any Loan Document or the transactions contemplated therein that is distributed to any Agent, any Lender or any Issuing Bank
by means of electronic communications pursuant to Section 9.01, including through the
PlatformElectronic Systems. 

“Compliance Certificate” means a Compliance Certificate in the form of Exhibit D or any other form approved by the
Administrative Agent. 
 “Consolidated EBITDA” means, for any period, Consolidated Net Income for such period plus
(a) without duplication and to the extent deducted in determining such Consolidated Net Income, the sum of (i) consolidated interest expense for such period, (ii) consolidated income tax expense for such period, (iii) all amounts
attributable to depreciation and amortization for such period (excluding, for the avoidance of doubt, amortization expense attributable to a prepaid cash item that was paid in a prior period), (iv) all losses for such period on sales or
dispositions of assets or attributable to discontinued operations, in each case, outside the ordinary course of business, (v) any non-cash charges, costs or expenses for such period, including goodwill and intangible asset impairment charges
(excluding, for the avoidance of doubt, any write-down of accounts receivable or any additions to bad debt expense) and non-cash costs and expenses incurred pursuant to any management equity plan, stock option plan or any other stock subscription or
shareholder agreement resulting from the grant of stock options or other equity-based incentives to any director, officer or employee of Parent or any of the Subsidiaries or incurred pursuant to other stock-settled obligations, (vi) any
restructuring and 

  
 8 

 
similar unusual, non-recurring charges, costs and expenses (including, without limitation, severance, relocation or lease termination costs, integration costs, entry into new markets and other
business optimization expenses and any one-time expense relating to enhanced accounting function or other transaction costs) for such period, provided that the amount of charges, costs and expenses added back pursuant to this clause
(vi) for such period, together with the aggregate amount of all other Capped Adjustments for such period, shall not exceed 15% of Consolidated EBITDA for such period determined prior to giving effect to any addback for any Capped Adjustments,
(vii) other extraordinary, unusual or non-recurring charges, costs and expenses for such period (it being understood that items of the type referred to in clause (vi) may only be added back pursuant to clause (vi) and not this clause
(vii)), (viii) charges for such period recognized on changes in the fair value of contingent consideration payable by, and non-cash charges for such period recognized on changes in the fair value of the noncontrolling interest in any acquiree
acquired by, Parent or any Subsidiary in any business combination, (ix) any currency translation losses (including any currency hedging losses) for such period and (x) any fees and expenses for such period associated with acquisitions,
business combinations, other investments, or dispositions of assets outside the ordinary course of business, and issuances or amendments of equity or debt that are not prohibited by this Agreement, including, without limitation, the credit
facilities established under this Agreement; provided that any cash payment made with respect to any non-cash items added back in computing Consolidated EBITDA for any prior period pursuant to clause (v) above (or that would have been
added back had this Agreement been in effect during such prior period) shall be subtracted in computing Consolidated EBITDA for the period in which such cash payment is made; and minus (b) without duplication and to the extent included
in determining such Consolidated Net Income, (i) all gains for such period on sales or dispositions of assets or attributable to discontinued operations, in each case, outside the ordinary course of business, (ii) all gains for such period
arising from business combinations, including, without limitation, gains on a “bargain purchase” and gains recognized on changes in the fair value of contingent consideration payable by, and gains recognized on changes in the fair value of
the noncontrolling interest in any acquiree acquired by, Parent or any Subsidiary in connection therewith, (iii) any extraordinary, unusual or non-recurring gains or income for such period, (iv) any currency translation gains (including
any currency hedging gains) for such period and (v) any non-cash items of income for such period that represent the reversal of any accrual of charges referred to in clauses (a)(v), (a)(vi) or (a)(vii) above, all determined on a consolidated
basis for Parent and the Subsidiaries in accordance with GAAP. In the event any Subsidiary shall be a Subsidiary that is not a Wholly Owned Subsidiary, all amounts added back in computing Consolidated EBITDA for any period pursuant to clause
(a) above, and all amounts subtracted in computing Consolidated EBITDA pursuant to clause (b) above, to the extent such amounts are, in the reasonable judgment of a Financial Officer of Parent, attributable to such Subsidiary, shall be
reduced by the portion thereof that is attributable to the noncontrolling interest in such Subsidiary. For the purposes of calculating Consolidated EBITDA for any period of four consecutive fiscal quarters of Parent (each, a “Reference
Period”) for the purposes of any determination of the Leverage Ratio, if during such Reference Period (or, in the case of pro forma calculations, during the period from the last day of such Reference Period to and including the date as of
which such calculation is made) Parent or any Subsidiary shall have made a Material Disposition or Material Acquisition, Consolidated EBITDA for such Reference Period shall be calculated after giving pro forma effect thereto as if such Material
Disposition or Material Acquisition had occurred on the first day of such Reference Period. 

  
 9 

 “Consolidated Funded Debt” means, as of any date, the sum for Parent and the
Subsidiaries, without duplication, of (a) all Indebtedness of the type referred to in clause (a) or (b) of the definition of such term, (b) all disbursements or payments under letters of credit or letters of guaranty in respect
of which such Person is an account party, if such disbursements or payments have not been reimbursed within three days (it being understood that contingent obligations in respect of letters of credit and bank guarantees shall not constitute
Consolidated Funded Debt), (c) all purchase money Indebtedness of such Person, including under clause (c) or (d) of the definition of such term (but excluding any earnout or other contingent payment obligations in connection with any
acquisition or business combination), and (d) all Capital Lease Obligations of such Person. The Consolidated Funded Debt of any Person shall include, without duplication, the Consolidated Funded Debt of any other Person (including any
partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such other Person (including a Guarantee thereof), except to the extent the terms of such Consolidated Funded Debt provide that such Person is not
liable therefor. 
 “Consolidated Net Funded Debt” means, as of any measurement date, (a) Consolidated Funded
Debt as of such date minus (b) the lesser of (i) the sum of (A) the excess, if any, of (Ax) Unrestricted Cash of Parent and the Subsidiary Loan Parties that are Domestic Subsidiaries over (Bits Domestic Subsidiaries as of such date
over (y) Deferred Merchant Payables of Parent and its Domestic Subsidiaries as of such date plus (B) 70% of the excess, if any, of (x) Unrestricted Cash of Foreign Subsidiaries of Parent as of such date over (y) Deferred Merchant Payables of Foreign Subsidiaries of Parent as of such date
and (ii) US$700,000,000. 
 “Consolidated Net Income” means, for any period, the net income or loss of Parent
and the Subsidiaries for such period determined on a consolidated basis in accordance with GAAP (after giving effect, for the avoidance of doubt, to the elimination of intercompany accounts in accordance with GAAP); provided that there shall
be excluded the income or loss of any Subsidiary that is not a Wholly Owned Subsidiary to the extent such income or loss is attributable to the noncontrolling interest in such Subsidiary. 

“Consolidated Revenues” means, for any period, the aggregate revenues of Parent and the Subsidiaries, determined on a
consolidated basis in accordance with GAAP. 
 “Consolidated Total Assets” means, at any time, the consolidated total
assets of Parent and the Subsidiaries, as such amount would appear on a consolidated balance sheet of Parent prepared as of such date in accordance with GAAP. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies, or the dismissal or appointment of the management, of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Default” means any event or condition that constitutes an Event of Default or that upon notice, lapse of time
or both would, unless cured or waived, become an Event of Default. 

  
 10 

 “Defaulting Lender” means any Revolving Lender that (a) shall have failed
to fund its applicable Tranche Percentage of any Revolving Borrowing for two or more Business Days after the date such Borrowing is required, in accordance with the terms and subject to the conditions set forth herein, to be funded by Lenders
hereunder, unless such Lender notifies the Administrative Agent and Parent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically identified in such writing,
including, if applicable, by reference to a specific Default) has not been satisfied, (b) shall have failed to fund any portion of its participation in any LC Disbursement or Swingline Loan within two Business Days after the date on which such
funding is to occur hereunder, (c) shall have failed to pay to the Administrative Agent, any Issuing Bank or the Swingline Lender any other amount required to be paid by it within two Business Days after the day on which such payment is
required to be made hereunder, (d) shall have notified the Administrative Agent (or shall have notified Parent, the Swingline Lender or any Issuing Bank, which shall in turn have notified the Administrative Agent) in writing that it does not
intend or is unable to comply with its funding obligations under this Agreement, or shall have made a public statement to the effect that it does not intend or is unable to comply with such funding obligations in accordance with the terms and
subject to the conditions set forth herein (unless such writing or public statement indicates that such position is based on such Lender’s good-faith determination that a condition precedent (specifically identified in such writing or public
statement, including, if applicable, by reference to a specific Default) to funding a Loan cannot be satisfied) or its funding obligations generally under other credit or similar agreements to which it is a party, (e) shall have failed (but not
for fewer than three Business Days) after a written request by the Administrative Agent, an Issuing Bank or the Swingline Lender made in good faith to provide a certification in writing that it will comply with its obligations (and is financially
able to meet such obligations) to make Loans and fund participations in LC Disbursements and Swingline Loans hereunder, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (e) upon the Administrative
Agent’s, such Issuing Bank’s or the Swingline Lender’s receipt of such certification in form and substance satisfactory to the Administrative Agent, or (f) has become the subject of a Bankruptcy Event. or
(g) has, or has a direct or indirect Lender Parent that has, become the subject of a Bail-In Action.   

“Deferred Merchant Payables” means, as of any date, the “deferred merchant payables” (or any substantively similar
line item caption), as such amount would appear on a consolidated balance sheet of Parent prepared as of such date in accordance with GAAP. 

“Designated Obligations” means Obligations consisting of the principal of and interest on outstanding Revolving Loans and
Swingline Loans, reimbursement obligations in respect of LC Disbursements (including interest accrued thereon) and fees payable to the Revolving Lenders. 

“Designated Subsidiary” means each Subsidiary that is (a) a Borrowing Subsidiary, (b) a Material Subsidiary or
(c) an obligor (including pursuant to a Guarantee) under any Material Indebtedness of Parent or any Domestic Subsidiary, in each case other than (i) except in the case of clause (c) above, any Specified Foreign Subsidiary,
(ii) any Subsidiary whose Guarantee of the Obligations has been released pursuant to
Section 9.14,9.14 and
(iii) TripAdvisor Securities Corporation, a Massachusetts securities corporation (“TSC”), in each case so long as (A) TSC 

  
 11 

 
shall be prohibited or restricted (including any restriction requiring consent or approval of any Governmental Authority), as a matter of applicable Massachusetts law, from becoming a Subsidiary
Loan Party or otherwise satisfying the Guarantee Requirement without losing its status as a Massachusetts security corporation, (B) TSC does not own any assets other than de minimis assets relating to its organization and existence and cash,
Permitted Investments, securities and similar financial assets, provided that the fair value of such cash, Permitted Investments, securities and similar financial assets shall not exceed US$300,000,000 in the aggregate at any time
(provided that in determining fair value of such assets, (x) any appreciation in the value of any Permitted Investments and (y) any dividends, distributions or other payments received by TSC with respect to such Permitted
Investments, in each case since the last day of the fiscal quarter of Parent most recently ended and with no carryover from any fiscal quarter of Parent prior to such most recently ended fiscal quarter, shall be disregarded), (C) TSC shall have
no Indebtedness (including no Guarantee of any Indebtedness) and (D) TSC shall not engage in any business or activities other than ownership of the Permitted Investments and other assets referred to in clause (B) above and activities
incidental thereto, and provided that, notwithstanding anything to the contrary in this definition, each Subsidiary that directly or indirectly owns any Equity Interests in TSC shall be deemed to be a Designated Subsidiary. 

“Disqualified Equity Interest” means, with respect to any Person, any Equity Interest in such Person that by its terms (or by
the terms of any security into which it is convertible or for which it is exchangeable, either mandatorily or at the option of the holder thereof), or upon the happening of any event or condition: 

(a) matures or is mandatorily redeemable (other than solely for Equity Interests in such Person that do not constitute
Disqualified Equity Interests and cash in lieu of fractional shares of such Equity Interests), whether pursuant to a sinking fund obligation or otherwise; 

(b) is convertible or exchangeable, either mandatorily or at the option of the holder thereof, for Indebtedness or Equity
Interests (other than solely for Equity Interests in such Person that do not constitute Disqualified Equity Interests and cash in lieu of fractional shares of such Equity Interests); or 

(c) is redeemable (other than solely for Equity Interests in such Person that do not constitute Disqualified Equity Interests
and cash in lieu of fractional shares of such Equity Interests) or is required to be repurchased by such Person or any of its Affiliates, in whole or in part, at the option of the holder thereof; 

in each case, on or prior to the date 180 days after the latest Maturity Date (determined as of the date of issuance thereof or, in the case of any such
Equity Interest outstanding on the date hereof, as of the date hereof); provided, however, that (i) an Equity Interest in any Person that would not constitute a Disqualified Equity Interest but for terms thereof giving holders
thereof the right to require such Person to redeem or purchase such Equity Interest upon the occurrence of an “asset sale” or a “change of control” shall not constitute a Disqualified Equity Interest if any such requirement
becomes operative only after repayment in full of all the Loans and all other Obligations that are accrued and payable, the cancellation or expiration of all Letters of Credit and the termination of the Commitments and (ii) an Equity Interest
in any Person that is issued to any 

  
 12 

 
employee or to any plan for the benefit of employees or by any such plan to such employees shall not constitute a Disqualified Equity Interest solely because it may be required to be repurchased
by such Person or any of its subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability. 

“Documentation Agents” means SunTrust Bank and BNP
ParibasBarclays Bank PLC, Morgan Stanley
Senior Funding, Inc. and Wells Fargo Bank, National Association, in their capacities as co-documentation agents for
the credit facilities provided for herein. 
 “Domestic Subsidiary” means a Subsidiary incorporated or organized
under the laws of the United States of America, any State thereof or the District of Columbia; provided that, other than for purposes of the definition of CFC Domestic Holdco, any Subsidiary that would otherwise constitute a Domestic Subsidiary and
is CFC Domestic Holdco shall be deemed not to be a Domestic Subsidiary. 

“Effective Date” means the date on which
the conditions specified in Section 4.01 are satisfied (or waived in accordance with Section 9.02).EEA Financial Institution” means (a) any credit
institution or investment firm established in any EEA Member Country that is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country that is a parent of an institution described in clause
(a) above or (c) any financial institution established in an EEA Member Country that is a subsidiary of an institution described in clause (a) or (b) above and is subject to consolidated supervision with its
parent. 

“EEA Member Country” means any of the member states of the European
Union, Iceland, Liechtenstein and Norway. 
 “EEA Resolution Authority” means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee)
having responsibility for the resolution of any EEA Financial Institution. 

“Electronic Communication” means email or facsimile, or such other methods of electronic communication as are approved by the
Administrative Agent; provided that such approval may be limited or rescinded by the Administrative Agent at any time by notice to Parent. 

“Electronic System” means any electronic system, including e-mail,
e-fax, Intralinks®, ClearPar®, Debt Domain, Syndtrak and any other Internet or extranet-based site, whether such electronic system is owned, operated or hosted by the Agents or any Issuing
Bank and any of their respective Related Parties or any other Person, providing for access to data protected by passcodes or other security system. 

“Eligible Assignee” means (a) a Lender, (b) an Affiliate of a Lender, (c) an Approved Fund and (d) any
other Person, other than, in each case, (i) a natural person, (ii) a Defaulting Lender or a Lender Parent thereof or (iii) Parent, any Subsidiary or any other Affiliate of Parent. 

  
 13 

 “Environmental Laws” means all laws, rules, regulations, codes, ordinances,
orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by or with any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the
management, release or threatened release of any toxic or hazardous substance, material or waste, or to health and safety matters. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of Parent or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation,
storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the presence, release or threatened release of any Hazardous Materials or (e) any contract, agreement or other consensual
arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
 “Equity Interests”
means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the
holder thereof to purchase or acquire any such equity interest; provided that Indebtedness that is convertible into Equity Interests in Parent shall not, prior to the date of conversion thereof, constitute Equity Interests in Parent. 

“ERISA” means the Employee Retirement Income Security Act of 1974. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with Parent, is treated as a
single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414(m) or 414(o) of the Code. 

“ERISA Event” means (a) any reportable event (within the meaning of Section 4043 of ERISA or the regulations issued
thereunder) with respect to a Plan, other than an event for which the 30-day notice period is waived; (b) a failure by any Plan to satisfy the minimum funding standard (within the meaning of Section 412 of the Code or Section 302 of
ERISA) applicable to such Plan, whether or not waived; (c) the filing pursuant to Section 412(d) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan;
(d) a determination that any Plan is, or is expected to be, in at-risk status (within the meaning of Section 430(i)(4) of the Code or Section 303(i)(4) of ERISA); (e) the incurrence by Parent or any ERISA Affiliate of any
liability under Title IV of ERISA with respect to the termination of any Plan; (f) the receipt by Parent or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (g) the incurrence by Parent or any ERISA Affiliate of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; (h) the receipt by Parent or any ERISA
Affiliate of any notice, or the receipt by any Multiemployer Plan from Parent or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent
(within the meaning of Title IV of ERISA) or in “endangered”, or “critical” and “critical and declining” status (within the
meaning of Section 432 of the Code or Section 305 of ERISA); 

  
 14 

 
(i) the occurrence of a non-exempt “prohibited transaction” (within the meaning of Section 4975 of the Code or Section 406 of ERISA) concerning any Plan and with respect to
which Parent or any ERISA Affiliate is a “disqualified person” (within the meaning of Section 4975 of the Code) or a party in interest (within the meaning of Section 406 of ERISA) or could otherwise be liable; or (j) any
other event or condition with respect to a Plan or Multiemployer Plan that could result in liability of Parent or any ERISA Affiliate. 
 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to
time. 
 “EURIBO Rate” means, with respect to any
Eurocurrency Borrowing denominated in Euro for any Interest Period, the applicable Screen Rate as of the Specified Time on the Quotation Date. 

“Euro” or “€” means the lawful currency of the member states of the European Union that have adopted a single
currency in accordance with applicable law or treaty. 
 “Eurocurrency”, when used in reference to any Loan or Borrowing,
refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to (a) in the case of Loans or Borrowings denominated in US Dollars or Sterling, the Adjusted LIBO Rate or (b, (b) in the case of Loans or Borrowings denominated in Sterling, the LIBO Rate or (c) in the case of Loans or Borrowings
denominated in Euro, the EURIBO Rate. 
 “European Tranche” has the meaning assigned to such term in the definition
of the term “Tranche”. 
 “European Tranche Percentage” means, at any time, with respect to any European Tranche
Revolving Lender, the percentage of the total European Tranche Revolving Commitments represented by such Lender’s European Tranche Revolving Commitment at such time. If the European Tranche Revolving Commitments have terminated or expired, the
European Tranche Percentages shall be determined based upon the European Tranche Revolving Commitments most recently in effect, giving effect to any assignments. 

“European Tranche Revolving Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make
European Tranche Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans, expressed as an amount representing the maximum aggregate permitted amount of such Lender’s European Tranche Revolving Exposure hereunder,
as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial
amount of each Lender’s European Tranche Revolving Commitment is set forth on Schedule 2.01 or in the Assignment and Assumption or the Incremental Facility Agreement pursuant to which such Lender shall have assumed or provided its European
Tranche Revolving Commitment, as applicable. The initial aggregate amount of the Lenders’ European Tranche Revolving
Commitments is US$1,000,000,000.as of the First Amendment Effective Date is
US$1,200,000,000. 

  
 15 

 “European Tranche Revolving Exposure” means, at any time, the sum of
(a) the aggregate principal amount of the European Tranche Revolving Loans denominated in US Dollars outstanding at such time, (b) the sum of the US Dollar Equivalents of the aggregate principal amounts of the European Tranche Revolving
Loans denominated in Euro or Sterling outstanding at such time, (c) the European Tranche Share of the LC Exposure at such time and (d) the European Tranche Share of the Swingline Exposure at such time. The European Tranche Revolving
Exposure of any Lender at any time shall be such Lender’s European Tranche Percentage of the total European Tranche Revolving Exposure at such time, adjusted to give effect to any
reallocation under Section 2.20 of the LC Exposure and the Swingline Exposure of Defaulting Lenders in effect at such time; provided that in the case of the Lender that is the
Swingline Lender, its European Tranche Revolving Exposure shall be (i) determined without giving effect to clause (d) above and (ii) increased by the full amount of its Swingline Exposure determined in accordance with the definition
of such term. 
 “European Tranche Revolving Lender” means a Lender with a European Tranche Revolving Commitment or
European Tranche Revolving Exposure. 
 “European Tranche Revolving Loan” means a Loan made pursuant to Section 2.01(b).
Each European Tranche Revolving Loan denominated in US Dollars shall be an ABR Loan or a Eurocurrency Loan, and each European Tranche Revolving Loan denominated in Euro or Sterling shall be a Eurocurrency Loan. 

“European Tranche Share” means, at any time, a percentage determined by dividing the aggregate amount of the European Tranche
Revolving Commitments at such time by the aggregate amount of the Revolving Commitments at such time. 
 “Events of
Default” has the meaning assigned to such term in Section 7.01. 
 “Exchange Act” means the United States
Securities Exchange Act of 1934. 
 “Exchange Rate” means, on any day, for purposes of determining the US Dollar Equivalent
of any currency other than US Dollars, the rate at which such other currency may be exchanged into US Dollars at the time of determination on such day as set forth on the applicable Reuters World Currency Page. In the event that such rate does not
appear on the applicable Reuters World Currency Page, the Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Applicable Agent and Parent, or, in the
absence of such an agreement, the Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of the Applicable Agent in the market where its foreign currency exchange operations in respect of such currency are then being
conducted, at or about such time as the Applicable Agent shall elect after determining that such rates shall be the basis for determining the Exchange Rate, on such date for the purchase of US Dollars for delivery two Business Days later;
provided that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Applicable Agent may use any reasonable method it deems appropriate to determine such rate, and such determination shall be
conclusive absent demonstrable error. Notwithstanding the foregoing provisions of this definition, each Issuing Bank may, solely for purposes of computing the fronting fees owed to it
under Section 2.12(b), compute the US Dollar Equivalent of the LC Exposure attributable to Letters of Credit issued by it by reference to exchange rates determined using any reasonable method customarily employed by it for such
purpose. 

  
 16 

 “Excluded Subsidiaries” means (a) any Subsidiary that is organized under
the laws of the People’s Republic of China or Taiwan, and (b) any Subsidiary that is the direct holding company of any Subsidiary referred to in clause (a) above, so long as such holding company has no material assets, liabilities or
operations other than those relating to such Subsidiary. 
 “Excluded Taxes” means, with respect to any Recipient,
(a) any income or franchise Taxes (i) that are imposed on (or measured by) such Recipient’s net income by the jurisdiction under the laws of which such Recipient is organized or in which its principal office is located or, in the case
of any Lender, the jurisdiction in which its applicable lending office is located or (ii) that are Other Connection Taxes, (b) any branch profits Taxes or any similar Tax imposed by any jurisdiction described in clause (a) above
(including, for the avoidance of doubt, any jurisdiction imposing Taxes described in clause (a)(ii) above), (c) in the case of a Lender (other than an assignee pursuant to a request by Parent under Section 2.19(b)) or an Issuing Bank, any
withholding Tax (including backup withholding) that is imposed (other than solely as a result of the operation of the CAM Exchange) by the United States of America or the United Kingdom (excluding (x) the portion of United Kingdom withholding
Taxes with respect to which the applicable Lender is entitled to claim a reduction under an income tax treaty, and (y) United Kingdom withholding Taxes on payments made by any guarantor under any Guarantee of the Obligations) on payments by any
Borrower or any other Loan Party on amounts payable to or for the account of such Lender or Issuing Bank pursuant to a law in effect on the date on which such Lender becomes a party to this Agreement (or designates a new lending office) or such
Issuing Bank becomes an “Issuing Bank” under this Agreement, except, in the case of any Lender, to the extent that such Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to
receive additional amounts from any Borrower or any other Loan Party with respect to such withholding Tax pursuant to Section 2.17(a), (d) any Tax that is imposed as a result of such Recipient’s failure to comply with
Section 2.17(f) or 2.17(g) (except to the extent described in Section 7.02(b)) and (e) any US Federal withholding Taxes imposed under FATCA, including as a result of such Recipient’s failure to comply with Section 2.17(f) or
2.17(g). 
 “Existing Credit Agreement” means the Credit Agreement dated as of December 20, 2011, as amended, among
Parent, the other borrowers from time to time party thereto, the lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent and J.P. Morgan Europe Limited, as London agent. 

“Existing Letters of Credit” means each letter of credit issued for the account of any Borrower under the Existing Credit
Agreement that is (a) outstanding on the Original Effective Date and (b) listed on Schedule 2.06A. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended and successor version
that is substantively comparable and not materially more onerous to comply with) and any current or future regulations promulgated thereunder or official interpretations thereof and any “intergovernmental agreements” in connection with the
foregoing. 

  
 17 

 “Federal Funds Effective Rate” means, for any day, the rate calculated by the
New York Fed based on such day’s federal funds transactions by depository institutions (as determined in such manner as the New York Fed shall set forth on its public website from time to time) and published on the next succeeding Business Day
by the New York Fed as the federal funds effective rate; provided that if such rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement. 

“Financial Officer” means, with respect to any Person, the chief financial officer, principal accounting officer, treasurer
or controller of such Person; provided that, when such term is used in reference to any document executed by, or a certification of, a Financial Officer, the secretary or assistant secretary of such Person shall have delivered an incumbency
certificate to the Administrative Agent as to the authority of such individual. 

“First Amendment” means that certain First Amendment, dated as of
May 12, 2017, to this Agreement. 
 “First Amendment Effective Date” means May 12, 2017. 

“Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than the United States of America,
any State thereof or the District of Columbia. 
 “Foreign Subsidiary” means any Subsidiary that is incorporated or
organized other than under the laws of the United States of America, any State thereof or the District of Columbia. 

“GAAP” means generally accepted accounting principles in the United States of America, as in effect, subject to Section 1.04, from time to time. 

“General Basket Excess Amount” has the meaning assigned to such term in Section 6.08(l). 

“Governmental Authority” means the government of the United States of America, any other nation or any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining
to government (including any supra-national body exercising such powers or functions, such as the European Union or the European Central Bank). 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the
payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment 

  
 18 

 
thereof (including pursuant to any “synthetic lease” financing), (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the
primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or other obligation;
provided that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. For the avoidance of doubt, any expression by Parent or any Subsidiary of an intent to continue to
provide financial support to any of its subsidiaries made in a management representation letter delivered in connection with an audit of the financial statements of such subsidiary, so long as such expression of intent does not create any binding
obligation, contingent or otherwise, on Parent or such Subsidiary to provide such support, shall not be deemed to be a Guarantee. 

“Guarantee Agreement” means athe Guarantee Agreement in substantially the form of Exhibit
E,dated as of June 26, 2015, among Parent, the Designated Subsidiaries and the Administrative Agent,
together with all supplements thereto. 
 “Guarantee Requirement” means the requirement that the Administrative
Agent shall have received from Parent and each Designated Subsidiary (a) in the case of Parent and each Person that iswas a Designated Subsidiary on the Original Effective Date, a counterpart of the Guarantee Agreement, duly executed and delivered on behalf of such Person or (b) in the case of any Person that becomes a Designated Subsidiary after the Original Effective Date, a supplement to the Guarantee Agreement, in the form specified therein, duly executed and delivered on
behalf of such Person, together with such documents and opinions as the Administrative Agent may reasonably request, including (if so requested) documents and opinions of the type referred to in Sections 4.01(b) and 4.01(f), with respect to such
Designated Subsidiary within 30 days (or such longer period as the Administrative Agent may agree to in writing) of such Person becoming a Designated Subsidiary. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes
or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law. 
 “HMRC” means H.M. Customs and Revenue. 

“HMRC DT Treaty Passport scheme” means the Board of H.M. Revenue and Customs Double Taxation Treaty Passport scheme. 

“Increase Effective Date” has the meaning assigned to such term in Section 2.09(d)(i). 

“Increasing Lender” has the meaning assigned to such term in Section 2.09(d)(i). 

“Incremental Amount” means, as of any date of determination with respect to any Commitment Increase or any Incremental Term
Loans, an amount that, after giving pro forma effect to such Commitment Increase or such Incremental Term Loans and the use of proceeds 

  
 19 

 
thereof (but without netting the cash proceeds thereof and assuming, solely for purposes of this determination, that the excess, if any, of (a) the entire amount of all the Commitment
Increases established since the Original Effective Date (including such Commitment Increase), less (b) the entire amount of all the Commitment Decreases effected
since the Original Effective Date, is fully funded as Loans), would not result in the Leverage Ratio, determined as of the last day of the fiscal quarter of Parent then
most recently ended, exceeding the maximum Leverage Ratio applicable on such date of determination pursuant to Section 6.10 (giving effect, if applicable, to any increase thereto becoming effective on such date of determination pursuant to
Section 6.10). 
 “Incremental Facility Agreement” means an Incremental Facility Agreement, in form and substance
reasonably satisfactory to the Administrative Agent and the Borrowers, among the Borrowers, the Administrative Agent and one or more Incremental Revolving Lenders and/or Incremental Term Lenders, establishing a Commitment Increase or Incremental
Term Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.21(c). 

“Incremental Lender” means an Incremental Revolving Lender or an Incremental Term Lender or any combination thereof, as the
case may be. 
 “Incremental Revolving Lender” has the meaning assigned to such term in Section 2.09(d)(i). 

“Incremental Term Commitment” means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant
an Incremental Facility Agreement and Section 2.21, to make Incremental Term Loans of any Series hereunder, expressed as an amount representing the maximum principal amount of the Incremental Term Loans of such Series to be made by such Lender,
subject to any increase or reduction pursuant to the terms and conditions hereof. The initial amount of each Lender’s Incremental Term Commitment of any Series, if any, is set forth in the Incremental Facility Agreement or the Assignment and
Assumption pursuant to which such Lender shall have established or assumed its Incremental Term Commitment of such Series. 

“Incremental Term Lender” means a Lender with an Incremental Term Commitment or an Incremental Term Loan. 

“Incremental Term Loan” means a loan made by an Incremental Term Lender to Parent pursuant to Section 2.21. 

“Incremental Term Maturity Date” means, with respect to the Incremental Term Loans of any Series to be made pursuant to any
Incremental Facility Agreement, the final maturity date specified in such Incremental Facility Agreement with respect thereto, which date shall not be prior to the Revolving Maturity Date. 

“Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money,
(b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person,
(d) all obligations 

  
 20 

 
of such Person in respect of the deferred purchase price of property or services, (e) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (f) all Guarantees by such Person of Indebtedness of others, (g) all
Capital Lease Obligations and all Synthetic Lease Obligations of such Person, (h) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (i) all Disqualified
Equity Interests in such Person, valued, as of the date of determination, at the maximum aggregate amount that would be payable upon maturity, redemption, repayment or repurchase thereof (or of Disqualified Equity Interests or Indebtedness into
which such Disqualified Equity Interests are convertible or exchangeable), (j) all Securitization Transactions of such Person and (k) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances. The
Indebtedness of any Person shall include the Indebtedness of any other Person (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in
or other relationship with such other Person, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. Notwithstanding the foregoing, Indebtedness of any Person shall not include (i) trade payables,
(ii) endorsements of checks, bills of exchange and other instruments for deposit or collection in the ordinary course of business and (iii) customer deposits and advances, and interest payable thereon, in the ordinary course of business in
accordance with customary trade terms and other obligations incurred in the ordinary course of business through credit on an open account basis customarily extended to such Person in connection with the purchase of goods or services. 

“Indemnified Taxes” means Taxes other than (a) Excluded Taxes and (b) Other Taxes. 

“Indemnitee” has the meaning assigned to such term in Section 9.03(b). 

“Initial Borrowings” has the meaning assigned to such term in Section 2.09(d)(ii). 

“Interest Election Request” means a request by or on behalf of a Borrower to convert or continue a Borrowing in accordance
with Section 2.08, which shall be, in the case of any such written request, in the form of Exhibit F or any other form approved by the Administrative Agent. 

“Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swingline Loan), the first Business Day
following the last day of each March, June, September and December, (b) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurocurrency
Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period and (c) with
respect to any Swingline Loan, the day that such Loan is required to be repaid. 
 “Interest Period” means, with respect to
any Eurocurrency Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, with the consent of each Lender

  
 21 

 
participating therein, twelve months) thereafter, as the applicable Borrower may elect; provided that (a) if any Interest Period would end on a day other than a Business Day, such
Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, and (b) any
Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar
month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 

“Interpolated Screen Rate” means, with respect to any Eurocurrency Borrowing denominated in any currency for any Interest
Period, a rate per annum which results from interpolating on a linear basis between (a) the applicable Screen Rate for the longest maturity for which a Screen Rate is available that is shorter than such Interest Period and (b) the
applicable Screen Rate for the shortest maturity for which a Screen Rate is available that is longer than such Interest Period, in each case as of the Specified Time on the Quotation Date. 

“IRS” means the US Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the
“International Standby Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 

“Issuing Bank” means each of JPMorgan Chase Bank, N.A. and any other Lender that has entered into an Issuing Bank Agreement,
each in its capacity as an issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). Each Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates
of such Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate (it being agreed that such Issuing Bank shall, or shall cause such Affiliate to, comply
with the requirements of Section 2.06 with respect to such Letters of Credit). 
 “Issuing Bank Agreement” means an
agreement among Parent, the Administrative Agent and a financial institution pursuant to which such financial institution agrees to act as an Issuing Bank hereunder, in the form of Exhibit G or any other form approved by the Administrative Agent in
its reasonable discretion. 
 “Judgment Currency” has the meaning assigned to such term in Section 9.15(b). 

“LC Commitment” means, as to any Issuing Bank, the maximum permitted amount of the LC Exposure that may be attributable to
Letters of Credit issued by such Issuing Bank. The initial amount of each Issuing Bank’s LC Commitment is set forth on Schedule 2.06 or in such Issuing Bank’s Issuing Bank
Agreement. The LC Commitment of any Issuing Bank may be increased or reduced by written agreement between such Issuing Bank and Parent, provided that a copy of such written agreement
shall have been delivered to the Administrative Agent. 

  
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 “LC Disbursement” means a payment made by an Issuing Bank pursuant to a Letter
of Credit. The amount of any LC Disbursement made by an Issuing Bank in an Alternative Currency and not reimbursed by the applicable Borrower shall be determined as set forth in Section 2.06(e) or 2.06(l), as applicable. 

“LC Exchange Rate” means, on any day, with respect to US Dollars in relation to any Alternative Currency, the rate at which
US Dollars may be exchanged into such Alternative Currency, as set forth at approximately 12:00 noon, New York City time, on such day on the applicable Reuters World Currency Page. In the event that such rate does not appear on the applicable
Reuters World Currency Page, the LC Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Applicable Agent and Parent or, in the absence of such agreement,
the LC Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of the Applicable Agent in the market where its foreign currency exchange operations in respect of such currency are then being conducted, at or about 11:00
a.m., London time, on such date for the purchase of such Alternative Currency with US Dollars for delivery two Business Days later; provided that if at the time of any such determination, for any reason, no such spot rate is being quoted, the
Applicable Agent, after consultation with Parent, may use any reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent demonstrable error. 

“LC Exposure” means, at any time, the sum of (a) the aggregate of the US Dollar Equivalents (based on the applicable
Exchange Rates) of the undrawn amounts of all outstanding Letters of Credit at such time plus (b) the aggregate of the US Dollar Equivalents (based on the applicable Exchange Rates) of all LC Disbursements that have not yet been reimbursed by
or on behalf of the applicable Borrower at such time. The LC Exposure of any Revolving Lender at any time shall be its Combined Tranche Percentage of the total LC Exposure at such time, adjusted to give effect to any reallocation under
Section 2.20 of the LC Exposure of Defaulting Lenders in effect at such time. 
 “LC Participation Calculation Date”
means, with respect to any LC Disbursement made by any Issuing Bank or any refund of a reimbursement payment made by any Issuing Bank to any Borrower, in each case in a currency other than US Dollars, (a) the date on which such Issuing Bank
shall advise the Applicable Agent that it purchased with US Dollars the currency used to make such LC Disbursement or refund or (b) if such Issuing Bank shall not advise the Applicable Agent that it made such a purchase, the date on which such
LC Disbursement or refund is made. 
 “Lender Parent” means, with respect to any Lender, any Person in respect of which
such Lender is a subsidiary. 
 “Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have
become a party hereto pursuant to an Incremental Facility Agreement or an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the context otherwise requires, the
term “Lenders” includes the Swingline Lender. 

  
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 “Letter of Credit” means any letter of credit issued pursuant to this Agreement
and the Existing Letters of Credit, other than any such letter of credit that shall have ceased to be a “Letter of Credit” outstanding hereunder pursuant to Section 9.05. 

“Leverage Ratio” means, on any measurement date, the ratio of (a) Consolidated Net Funded Debt as of such date to
(b) Consolidated EBITDA for the period of four consecutive fiscal quarters of Parent ended on such date (or, if such date is not the last day of a fiscal quarter of Parent, ended most recently prior to such date). 

“Liberty Successor” means any Person that is a successor of Liberty TripAdvisor Holdings, including any Person spun or
otherwise separated out of Liberty TripAdvisor Holdings (or any similar successor of any such Liberty Successor); provided that (a) no Person or group (within the meaning of the Exchange Act and the rules of the SEC thereunder as in
effect on the date hereof), other than the Permitted Holders (disregarding for this purpose clause (b) of the definition of such term), is the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act and the
rules of the SEC thereunder as in effect on the date hereof), directly or indirectly, of more than 50% of the total voting power represented by the issued and outstanding capital stock (or equivalent Equity Interests) of such Liberty Successor,
(b) such Liberty Successor is not a Sanctioned Person, (c) the transaction or transactions pursuant to which such Liberty Successor shall have become such a successor does not violate any Anti-Corruption Laws applicable to such Liberty
Successor or any Sanctions applicable to such Liberty Successor and (d) each of the Administrative Agent and each Lender shall have received all documentation and other information reasonably requested by it in writing that it reasonably
determines is required by United States or foreign bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act, with respect to such Liberty Successor. 

“Liberty TripAdvisor Holdings” means Liberty TripAdvisor Holdings, Inc., a Delaware corporation. 

“LIBO Rate” means, with respect to any Eurocurrency Borrowing (other than any such Borrowing denominated in Euro) for any
Interest Period, the applicable Screen Rate as of the Specified Time on the Quotation Date. 
 “Lien” means, with respect
to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement
(or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase
option, call or similar right of a third party (other than any third party that is not exempt from the automatic stay provisions of the Bankruptcy Code, as provided in Section 555 thereof) with respect to such securities. 
 “Limited Conditionality Acquisition” means any acquisition (including
pursuant to a merger or consolidation) by Parent or any of its Subsidiaries (other than any Excluded Subsidiaries) of all or substantially all of the issued and outstanding Equity Interests in, or all or substantially all of the assets of (or of
assets constituting a business unit, line of business or division of) any Person (a) that is not prohibited by this Agreement and (b) for which Parent has determined in good faith that limited conditionality is reasonably necessary. 

  
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 “Limited Conditionality Acquisition Agreement” means, with respect to any
Limited Conditionality Acquisition, the definitive agreement entered into by Parent or any of its Subsidiaries (other than any Excluded Subsidiary) in respect thereof. 

“Limited Conditionality Acquisition Incremental Term Loans” has the meaning assigned to such term in Section 2.21(c).

 “Loan Documents” means (a) this Agreement, the Guarantee Agreement, the First Amendment, the Borrowing Subsidiary Agreements, the Borrowing Subsidiary Terminations, the Incremental Facility
Agreements and, any promissory notes
delivered pursuant to Section 2.10(e) and any other document or agreement that is designated by Parent and the Administrative Agent as a “Loan Document” and (b) except for purposes of Section 9.02, any letter of credit applications referred to in Section 2.06(a) and, the Issuing Bank Agreements and each written agreement (if any)
between Parent and any Issuing Bank regarding such Issuing Bank’s LC Commitment. 
 “Loan
Parties” means Parent and the Subsidiary Loan Parties. 
 “Loans” means the loans made by the Lenders to the
Borrowers pursuant to this Agreement. 
 “Local Time” means (a) with respect to a Loan or Borrowing denominated in US
Dollars or any Letter of Credit, New York City time, (b) with respect to a Loan or Borrowing denominated in Euro, Frankfurt time, and (c) with respect to a Loan or Borrowing denominated in Sterling, London time. 

“London Agent” means J.P. Morgan Europe Limited, or any other Affiliate or branch of JPMorgan Chase Bank, N.A., that JPMorgan
Chase Bank, N.A. shall have designated for the purpose of acting in such capacity hereunder. 
 “Majority in Interest”
means, at any time, (a) when used in reference to Revolving Lenders, Lenders having Revolving Credit Exposures and unused Revolving Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and the total unused
Revolving Commitment at such time, (b) when used in reference to Revolving Lenders of any Class, Lenders having Revolving Credit Exposures and unused Revolving Commitments of such Class representing more than 50% of the sum of the total
Revolving Credit Exposures and the total unused Revolving Commitment of such Class at such time and (c) when used in reference to the Incremental Term Lenders of any Class, Lenders holding outstanding Incremental Term Loans of such Class
representing more than 50% of all Incremental Term Loans of such Class outstanding at such time. For purposes of this definition, the Swingline Exposure of any Revolving Lender that is the Swingline Lender shall be deemed to exclude that portion of
its Swingline Exposure that exceeds its Combined Tranche Percentage of the aggregate principal amount of all outstanding Swingline Loans, and the unused Revolving Commitment of any Class of such Lender shall be determined without regard to any such
excess amount. 

  
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“Managers” means The Bank of
Tokyo-Mitsubishi UFJ, Ltd., Goldman Sachs Bank USA and Deutsche Bank Securities Inc., in their capacities as co-managers for the credit facilities provided for herein. 

“Material Acquisition” means any acquisition of property or series of related acquisitions of property that involves
consideration in excess of 10% of Consolidated EBITDA for the period of four consecutive fiscal quarters of Parent ended most recently prior to the date of such acquisition. 

“Material Adverse Effect” means a material adverse effect on (a) the business, results of operations, assets or
financial condition of Parent and the Subsidiaries, taken as a whole, (b) the ability of the Loan Parties, taken as a whole, to perform their obligations under the Loan Documents or (c) the rights of or benefits available to the Lenders
under the Loan Documents, taken as a whole. 
 “Material Disposition” means any sale, transfer or other disposition of
property or series of related sales, transfers or other dispositions of property that yields gross proceeds to Parent and the Subsidiaries in excess of 10% of Consolidated EBITDA for the period of four consecutive fiscal quarters of Parent ended
most recently prior to the date of such sale, transfer or other disposition. 
 “Material Indebtedness” means Indebtedness
(other than the Loans, Letters of Credit and Guarantees under the Loan Documents), or obligations in respect of one or more Swap Agreements, of any one or more of Parent and the Subsidiaries in an aggregate principal amount exceeding US$100,000,000.
For purposes of determining Material Indebtedness, the “amount” of the obligations of Parent or any Subsidiary in respect of (a) any Swap Agreement at any time shall be the maximum aggregate principal amount (giving effect to any
netting agreements) that Parent or such Subsidiary would be required to pay if such Swap Agreement were terminated at such time and (b) any Securitization Transaction shall be determined as set forth in the definition of such term. 

“Material Subsidiary” means (a) for the purposes of the
definition of “Designated Subsidiary”, at any time, each Subsidiary (excluding any Specified Foreign Subsidiary) other than Subsidiaries that (aany such Subsidiaries that (i) together
with their own subsidiaries, do not represent more than 10% for any such Subsidiary (other than any Specified Foreign Subsidiary), or more than 10% in the aggregate for all such Subsidiaries (other than Specified Foreign Subsidiaries), of either
(A) Consolidated Total Assets or (B) Consolidated Revenues of Parent and the Subsidiaries as of the end of or for the period of four consecutive fiscal quarters of Parent most recently ended prior to such time and (ii) do not own
Equity Interests or Indebtedness (other than de minimis Indebtedness) of any Material Subsidiary; provided that with respect to this clause (a) each Borrowing Subsidiary shall in any event be a Material Subsidiary and no Excluded Subsidiary
shall be a Material Subsidiary; and (b) for all other purposes herein and in any other Loan Document, at any time, each Subsidiary, other than Subsidiaries that (i) together with their own subsidiaries, do not represent more
than 10% for any such Subsidiary, or more than 10% in the aggregate for all such Subsidiaries, of either (iA) Consolidated Total Assets or (iiB) Consolidated Revenues of Parent and the Subsidiaries as of the end of or for the period of four 

  
 26 

 
consecutive fiscal quarters of Parent most recently ended prior to such time and (bii) do not own Equity Interests or Indebtedness (other than de minimis Indebtedness) of any Material Subsidiary; provided
that with respect to this clause (b) each Borrowing Subsidiary shall in any event be a Material Subsidiary and no Excluded Subsidiary shall be a Material Subsidiary.

 “Maturity Date” means the Revolving Maturity Date or the Incremental Term Maturity Date, as the context requires.

 “Maximum Rate” has the meaning assigned to such term in Section 9.13. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor to its rating agency business. 

“Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, that is or has been
maintained, sponsored or contributed to by Parent or any ERISA Affiliate. 
 “New York Fed” means the Federal Reserve Bank
of New York. 
 “New York Fed Bank Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in
effect on such day and (b) the Overnight Bank Funding Rate in effect on such day; provided that if both such rates are not published for any day that is a Business Day, the term “New York Fed Bank Rate” means the rate quoted
for such day for a federal funds transaction at 11:00 a.m., New York City time, on such day received by the Administrative Agent from a Federal funds broker of recognized standing selected by it; provided further that if any of the
foregoing rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 
 “Non-Defaulting
Lender” means, at any time, any Revolving Lender that is not a Defaulting Lender at such time. 
 “Non-Increasing
Lender” has the meaning assigned to such term in Section 2.09(d)(i). 
 “Obligations” has the meaning assigned to
such term in the Guarantee Agreement. 
 “OECD” means the Organization for Economic Cooperation and Development. 

“Original Effective Date” means June 26, 2015.

 “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former
connection between such Recipient and the jurisdiction imposing such Taxes (other than a connection arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or
perfected a security interest under, or engaged in any other transaction pursuant to, or enforced, any Loan Document, or sold or assigned an interest in any Loan Document). 

  
 27 

 “Other Taxes” means any and all present or future stamp, court, documentary,
recording, filing or similar Taxes arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes
imposed with respect to an assignment (other than an assignment made pursuant to Section 2.19). 
 “Overnight Bank Funding
Rate” means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.–managed banking offices of depository institutions (as such composite rate shall be determined by the New York Fed
as set forth on its public website from time to time) and published on the next succeeding Business Day by the New York Fed as an overnight bank funding rate (from and after such date as the New York Fed shall commence to publish such composite
rate); provided that if such rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Parent” means TripAdvisor, Inc., a Delaware corporation. 

“Partial Transfer” has the meaning assigned to such term in Section 6.08(k). 

“Partial Transfer Asset Amount” means, for any Partial Transfer Subsidiary, the product of (a) the applicable Partial
Transfer Percentage and (b) the aggregate book value of all the assets of such Partial Transfer Subsidiary, determined as of the end of the fiscal quarter of Parent ending on or most recently prior to the date of the Partial Transfer. 

“Partial Transfer EBITDA Amount” means, for any Partial Transfer Subsidiary, the product of (a) the applicable Partial
Transfer Percentage and (b) the portion of the Consolidated EBITDA for the period of four consecutive fiscal quarters of Parent ended on or most recently prior to the date of the Partial Transfer that is attributable to such Partial Transfer
Subsidiary. 
 “Partial Transfer Parent Subsidiary” has the meaning assigned to such term in Section 6.08(k). 

“Partial Transfer Percentage” means, with respect to any Partial Transfer Subsidiary, the percentage of the aggregate equity
value of the applicable Partial Transfer Parent Subsidiary held by Persons other than Parent or any Subsidiary as a result of any Partial Transfer made in reliance on Section 6.08(k), in each case determined immediately after giving effect to
such Partial Transfer. 
 “Partial Transfer Spin-Off Subsidiary” has the meaning assigned to such term in
Section 6.08(k). 
 “Partial Transfer Subsidiaries” has the meaning assigned to such term in Section 6.08(k). 

“Participant” has the meaning assigned to such term in Section 9.04(c)(i). 

“Participant Register” has the meaning assigned to such term in Section 9.04(c)(iii). 

  
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 “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in
ERISA and any successor entity performing similar functions. 
 “Permitted Charitable Contributions” means charitable
contributions (as defined in Section 170(c) of the Code, whether in the form of cash, securities or other property and without regard to whether such charitable contributions are deductible for income tax purposes) made by Parent or any
Subsidiary, whether directly (including to a donor advised fund) or through one or more Affiliates, and any binding commitment with respect thereto; provided that the aggregate amount of such contributions made by Parent and the Subsidiaries
during any fiscal year of Parent may not exceed the sum of (a) US$5,000,000 and (b) 2.0% of the consolidated operating income before amortization of Parent and the Subsidiaries for such fiscal year. 

“Permitted Encumbrances” means: 

(a) Liens imposed by law for taxes that are not yet due or are being contested in compliance with Section 5.04; 

(b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, vendors’ and lessors’
Liens (and deposits to obtain the release of such Liens), setoff rights and other like Liens imposed by law (or contract, to the extent that such contractual Liens are similar in nature and scope to such Liens imposed by law), arising in the
ordinary course of business and securing obligations that (i) are not overdue by more than 30 days or (ii) are being contested in good faith by appropriate proceedings; provided that (A) Parent or a Subsidiary, as applicable,
has set aside on its books adequate reserves with respect thereto in accordance with GAAP, (B) such contest effectively suspends collection of the contested obligation and the enforcement of any Lien securing such obligation and (C) the
failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect; 
 (c)
pledges and deposits made (i) in the ordinary course of business in compliance with workers’ compensation, disability, unemployment insurance and other similar
plans or programs and other social security laws or regulations and (ii) in respect of letters of credit, bank guarantees or similar instruments issued for the account of Parent or
any Subsidiary in the ordinary course of business supporting obligations referred to in clause (i) above; 

(d) pledges and deposits made (i) to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature
(including deposits in respect of tax assessments (or in respect of any performance bonds posted in connection therewith) that are required to be made by the assessing municipalities prior to the commencement of litigation challenging such
assessments), in each case in the ordinary course of business and (ii) in respect of letters of credit, bank guarantees or similar instruments issued for the account of Parent or
any Subsidiary in the ordinary course of business supporting obligations referred to in clause (i) above; 

  
 29 

 (e) judgment liens in respect of judgments that do not constitute an Event of
Default under Section 7.01(k); and 

(f) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the
ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of Parent or any Subsidiary; 

(g) Liens that are contractual rights of set-off; 
 (h) deposits of cash, cash equivalents and Permitted Investments with a trustee or a similar representative made to
defease or to satisfy and discharge any debt securities; and 
 (i) customary Liens arising under sale agreements related to any disposition permitted hereunder, provided that such Liens
extend only to the property to be disposed of  
 provided
that, except as set forth in clauses (c)(ii), (d)(ii) and (h) above, the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness.

 “Permitted Holders” means any one or more of (a) Liberty TripAdvisor Holdings, (b) a Liberty Successor,
(c) John C. Malone or Gregory B. Maffei, (d) each of the respective Affiliated Holders of the persons referred to in clause (c) of this definition and (e) any Affiliates of one or more of the Persons referred to in clause (a),
(b), (c) or (d) of this definition. 
 “Permitted Investments” means: 

(a) direct obligations of the United States of America (including U.S. Treasury bills, notes and bonds) that are backed by the
full faith and credit of the United States of America; 
 (b) direct obligations of any agency of the United States of
America that are backed by the full faith and credit of the United States of America and direct obligations of United States of America government-sponsored enterprises (including the Federal National Mortgage Association and the Federal Home Loan
Mortgage Corporation) that are rated the same as direct obligations of the United States of America; 
 (c) direct
obligations of, and obligations fully guaranteed by, any State of the United States of America that, on the date of acquisition, are rated investment grade by Moody’s or by S&P, including any such obligations that are in the form of general
obligation and revenue notes and bonds, insured bonds (including all insured bonds having, on the date of acquisition, a credit rating of Aaa by Moody’s and AAA by S&P) and refunded bonds (reissued bonds collateralized by U.S. Treasury
securities); 
 (d) Indebtedness of any county or other local governmental body within the United States of America having,
on the date of acquisition, a credit rating of Aaa by 

  
 30 

 
Moody’s and AAA by S&P, or Auction Rate Securities, Tax-Exempt Commercial Paper or Variable Rate Demand Notes issued by such bodies that is, on the date of acquisition, rated at least
A3/P-1/VMIG-1 by Moody’s and A-/A-1/SP-1 by S&P; 
 (e) non-US Dollar denominated indebtedness of other sovereign
countries having, on the date of acquisition, a credit rating of Aaa by Moody’s and AAA by S&P; 
 (f) non-US Dollar
denominated indebtedness of government agencies having, on the date of acquisition, a credit rating of Aaa by Moody’s and AAA by S&P; 

(g) mortgage-backed securities of the United States of America and/or any agency thereof that are backed by the full faith and
credit of the United States of America; provided that such mortgage-backed securities that are purchased on a TBA (“To-Be-Announced”) basis must have a settlement date of less than three months from date of purchase; 

(h) collateralized mortgage obligations of the United States of America and/or any agency thereof that are backed by the full
faith and credit of the United States of America; 
 (i) commercial paper issued by any corporation or bank having a maturity
of nine months or less and having, on the date of acquisition, a credit rating of at least P1 or the equivalent thereof from Moody’s and A1 or the equivalent thereof from S&P; 

(j) money market investments, bankers acceptances, certificates of deposit, notes or time deposits and other like instruments,
in each case issued by any domestic bank that has a combined capital and surplus and undivided profits of not less than US$500,000,000; 

(k) money market investments, deposits, bankers acceptances, certificates of deposit, notes and other like instruments, in each
case directly guaranteed by any commercial bank organized under the laws of the Republic of Singapore, the People’s Republic of China, the Federative Republic of Brazil, the Russian Federation, the Republic of India, the Republic of Indonesia
or of a member nation of the European Union or the OECD which has a combined capital and surplus and undivided profits of not less than US$500,000,000, denominated in US Dollars, Sterling, Euro, Canadian Dollars, Australian Dollars, Norwegian
Kroner, Swiss Francs, Japanese Yen, Singapore Dollars, Renminbi, Brazilian Reals, Russian Rubles, Indian Rupees or Indonesian Rupiahs; 

(l) direct obligations of corporations, banks or financial entities and agencies, including medium term notes (MTN) and bonds,
structured notes and Eurodollar/Yankee notes and bonds, in each case having, on the date of acquisition, a credit rating of at least Baa1 from Moody’s or BBB+ from S&P; 

(m) repurchase and reverse repurchase agreements for securities described in clauses (a) through (c) above with a
financial institution described in clause (j) or (k) above; 

  
 31 

 (n) asset-backed securities that are, on the date of acquisition, rated BBB+ by
S&P or Baa1 by Moody’s; 
 (o) money market funds and mutual funds consisting primarily of investments described in
clauses (a) through (n) above, in each case having a credit rating of at least Aaa from Moody’s or AAA from S&P, and in each case having at least US$500,000,000 of assets under management; and 

(p) other investments determined by Parent or any Subsidiary to entail credit risks not materially greater than those
associated with the foregoing investments and approved in writing by the Administrative Agent (such approval not to be unreasonably withheld). 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any employee pension benefit plan (other than a
Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA that is maintained, sponsored or contributed to by Parent or any ERISA Affiliate. 

“Platform” has the meaning set forth in
Section 9.01(e). 
 “Prime Rate” means the rate of
interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City. Each change in the Prime Rate shall be effective from and including the date such change is
publicly announced as being effective. 
 “Priority Indebtedness” means, as of any date, without duplication, (a) the
aggregate principal amount of all Indebtedness then outstanding in reliance on Section 6.01(p), (b) the aggregate principal amount of all Indebtedness of the Loan Parties then outstanding that is secured by Liens permitted under
Section 6.02(l), (c) the aggregate amount of Attributable Debt under all Sale/Leaseback Transactions then outstanding and (d) the aggregate amount of all Securitization Transactions then outstanding. 

“Pro Forma Capped Adjustments” has the meaning assigned to such term in Section 1.04(b). 

“Quotation Date” means (a) with respect to any currency (other than Sterling and Euro) for any Interest Period, two
Business Days prior to the first day of such Interest Period, (b) with respect to Sterling for any Interest Period, the first day of such Interest Period and (c) with respect to Euro for any Interest Period, the day two TARGET Days before
the first day of such Interest Period, in each case unless market practice differs in the Relevant Interbank Market for any currency, in which case the Quotation Date for such currency shall be determined by the Applicable Agent in accordance with
market practice in the Relevant Interbank Market (and if quotations would normally be given by leading banks in the Relevant Interbank Market on more than one day, the Quotation Date shall be the last of those days). 

  
 32 

 “Recipient” means any Agent, any Lender and any Issuing Bank. 

“Reference Period” has the meaning assigned to such term in the definition of the term “Consolidated EBITDA”. 

“Register” has the meaning assigned to such term in Section 9.04(b)(iv). 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors,
trustees, partners, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 
 “Relevant
Interbank Market” means (a) with respect to any currency (other than Euros), the London interbank market, and (b) with respect to Euros, the European interbank market. 

“Required Lenders” means, at any time, Lenders having Revolving Credit Exposures, Incremental Term Loans and unused
Commitments representing more than 50% of the sum of the total Revolving Credit Exposures, outstanding Incremental Term Loans and unused Commitments at such time. For purposes of this definition, the Swingline Exposure of any Revolving Lender that
is the Swingline Lender shall be deemed to exclude that portion of its Swingline Exposure that exceeds its Combined Tranche Percentage of the aggregate principal amount of all outstanding Swingline Loans, and the unused Revolving Commitment of any
such Lender shall be determined without regard to any such excess amount. 
 “Restricted Payment” means any dividend or
other distribution (whether in cash, securities or other property) with respect to any Equity Interests in Parent or any Subsidiary, or any payment or distribution (whether in cash, securities or other property), including any sinking fund or
similar deposit, on account of the purchase, redemption, retirement, acquisition, exchange, conversion, cancellation or termination of any such Equity Interests in Parent or any Subsidiary. 

“Revolving Availability Period” means the period from and including the Original Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments. 

“Revolving Commitment” means a European Tranche Revolving Commitment or a US Tranche Revolving Commitment or any combination
thereof, as the context requires. The initial aggregate amount of the Lenders’ Revolving Commitments is US$1,000,000,000.as of the First Amendment Effective Date is US$1,200,000,000. 
 “Revolving Credit Exposure” means, with respect to any Revolving Lender at
any time, the sum at such time of such Lender’s US Tranche Revolving Exposure and European Tranche Revolving Exposure; provided that for purposes of this definition, the Swingline Exposure of any Lender that is the Swingline Lender shall
be deemed to exclude that portion of its Swingline Exposure that exceeds its Combined Tranche Percentage of the aggregate principal amount of all outstanding Swingline Loans. 

  
 33 

 “Revolving Lender” means a European Tranche Revolving Lender or a US Tranche
Revolving Lender or any combination thereof, as the context requires. 
 “Revolving Loan” means a European Tranche
Revolving Loan or a US Tranche Revolving Loan or any combination thereof, as the context requires. 
 “Revolving Maturity
Date” means the date that is five years after the First Amendment Effective Date. 

“S&P” means Standard & Poor’s Ratings
Group, a division of McGraw-Hill
FinancialS&P Global Inc., and any successor to its rating agency business. 

“Sale/Leaseback Transaction” has the meaning assigned to such term in Section 6.03. 

“Sanctioned Country” means, at any time, a country, region or territory which is itself, or whose government is, the subject or target of any Sanctions (at the date of this Agreementas of the First Amendment Effective Date, Crimea, Cuba, Iran, North Korea, Sudan and Syria). 

“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons
maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or by the United Nations Security Council, the European
Union or, any European Union member state or Her Majesty’s Treasury of the United Kingdom, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled by
any such Person or Persons described in the foregoing clause (a) or (b). 
 “Sanctions” means all economic or
financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S.
Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state or Her Majesty’s Treasury of the United Kingdom. 

“Screen Rate” means (a) in respect of the LIBO Rate for any currency for any Interest Period or in respect of any determination of the Alternate Base Rate pursuant to clause (c) of the definition thereof, a rate per annum equal to the London interbank offered rate
as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in such currency (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Periodthe relevant period as displayed
on the Reuters screen page that displays such rate (currently LIBOR01 or LIBOR02) (or, in the event such rate does not appear on a page of the Reuters screen, on the applicable page of such other information service that publishes such rate as shall
be selected by the Applicable Agent from time to time), and (b) in respect of the EURIBO Rate for any Interest Period, the percentage per annum determined by the Banking
Federation of the European UnionMoney Market Institute (or any other Person that takes
over the administration of such rate) for such Interest Period as set forth on the Reuters screen page that displays such rate (currently EURIBOR01)

  
 34 

 
(or, in the event such rate does not appear on a page of the Reuters screen, on the applicable page of such other information service that publishes such rate as shall be selected by the
Applicable Agent from time to time); provided that (i) if, as to any currency, no Screen Rate shall be available for a particular Interest Period but Screen Rates shall be available for maturities both longer and shorter than such
Interest Period, then the Screen Rate for such Interest Period shall be the Interpolated Screen Rate, and (ii) if any Screen Rate, determined as provided above, would be less than zero, such Screen Rate shall be deemed to be zero for all
purposes of this Agreement. 
 “SEC” means the United States Securities and Exchange Commission. 

“Securities Act” means the United States Securities Act of 1933. 

“Securitization Transaction” means any transfer by Parent or any Subsidiary of accounts receivable or interests therein
(a) to a trust, partnership, corporation or other entity, which transfer is funded in whole or in part, directly or indirectly, by the incurrence or issuance by the transferee or any successor transferee of Indebtedness, fractional undivided
interests or securities that are to receive payments from, or that represent interests in, the cash flow derived from such accounts receivable or interests, or (b) directly, or indirectly through a special purpose vehicle, to one or more
investors or other purchasers. The amount of any Securitization Transaction shall be deemed at any time to be the aggregate principal or stated amount of the Indebtedness, fractional undivided interests or other securities referred to in the
preceding sentence or, if there shall be no such principal or stated amount, the uncollected amount of the accounts receivable or interests therein transferred pursuant to such Securitization Transaction net of any such accounts receivable or
interests therein that have been written off as uncollectible and/or any discount (but not in excess of the discount that would be usual and customary for securitization transactions of this type in light of the then prevailing market conditions) in
the purchase price therefor. For purposes of Section 6.02 only, a Securitization Transaction shall be deemed to be secured by a Lien on the accounts receivable or interests therein that are subject thereto, and such accounts receivable and
interests shall be deemed to be assets of Parent and the Subsidiaries. 
 “Series” has the meaning assigned to such term in
Section 2.21(b). 
 “Specified Foreign Subsidiary” means (a) any CFC, (b) any CFC Domestic Holdco and
(c) any subsidiary of any CFC or any CFC Domestic Holdco. 
 “Specified Time” means (a) with respect to the LIBO
Rate, 11:00 a.m., London time, and (b) with respect to the EURIBO Rate, 11:00 a.m., Frankfurt time. 
 “Statutory Reserve
Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve (including any marginal, special, emergency or supplemental
reserves) established by the Board of Governors to which the Administrative Agent is subject for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board of Governors). Such reserve percentages
shall include those imposed pursuant to Regulation D of the Board of Governors. Eurocurrency Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit

  
 35 

 
for proration, exemptions or offsets that may be available from time to time to any Lender under any applicable law, rule or regulation, including Regulation D. The Statutory Reserve Rate shall
be adjusted automatically on and as of the effective date of any change in any reserve percentage. 
 “Sterling” or
“£” means the lawful currency of the United Kingdom. 
 “Subsequent Borrowings” has the meaning assigned to
such term in Section 2.09(d)(ii). 
 “subsidiary” means, with respect to any Person (the “parent”) at
any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements
were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity of which securities or other ownership interests representing more than 50% of the equity or
more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held by the parent or one or more subsidiaries of the parent or by the parent
and one or more subsidiaries of the parent. 
 “Subsidiary” means any subsidiary of Parent. Notwithstanding anything to the
contrary set forth herein, The TripAdvisor Charitable Foundation, a non-profit Delaware corporation, shall not, for so long as it constitutes a charitable organization, be deemed to be a Subsidiary for purposes of this Agreement and the other Loan
Documents. 
 “Subsidiary Loan Party” means each Subsidiary that is a party to a Guarantee Agreement. 

“Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar
agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of
Parent or the Subsidiaries shall be a Swap Agreement. 
 “Swingline Exposure” means, at any time, the aggregate principal
amount of all Swingline Loans outstanding at such time. The Swingline Exposure of any Revolving Lender at any time shall be the sum of (a) its Combined Tranche Percentage of the aggregate principal amount of all Swingline Loans outstanding at
such time (excluding, in the case of the Swingline Lender, Swingline Loans made by it that are outstanding at such time to the extent that the other Revolving Lenders shall not have funded their participations in such Swingline Loans), adjusted to
give effect to any reallocation under Section 2.20 of the Swingline Exposure of Defaulting Lenders in effect at such time, and (b) in the case of the Swingline Lender, the aggregate principal amount of all Swingline Loans made by such
Lender outstanding at such time to the extent that the other Revolving Lenders shall not have funded their participation in such Swingline Loans. 

  
 36 

 “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as lender of
Swingline Loans hereunder. 
 “Swingline Loan” means a Loan made pursuant to Section 2.05. 

“Syndication Agents” means Royal Bank of Canada and
Bank of America, N.A., BMO Capital Markets Corp., BNP Paribas Securities Corp., SunTrust Robinson Humphrey, Inc. and U.S. Bank
National Association, in their capacities as co-syndication agents for the credit facilities provided for herein. 

“Synthetic Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease
of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, under a synthetic, off-balance sheet or tax retention lease, including any financing lease or other agreement for the use or possession of
property creating obligations that do not appear on the balance sheet of such Person but which are characterized as the indebtedness of such Person for US tax purposes (without regard to accounting treatment), and the amount of such obligations
shall be the capitalized amount thereof that would appear on a balance sheet of such Person under GAAP if such lease were accounted for as a capital lease. 

“TARGET Day” means any day on which both (a) the Trans-European Automated Real-time Gross Settlement Express Transfer
(TARGET2) payment system (or, if such payment system ceases to be operative, such other payment system as shall be determined by the Administrative Agent to be a replacement therefor for purposes hereof) is open for the settlement of payments in
Euro and (b) banks in London are open for general business. 
 “Taxes” means any and all present or future taxes,
levies, imposts, duties, deductions, assessments, fees, withholdings (including back up withholding), or other like charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Total Voting Power” has the meaning assigned to such term in the definition of the term “Change in Control”. 

“Tranche” means a Class of Revolving Commitments and extensions of credit thereunder. For purposes hereof, each of the
following comprises a separate Tranche: (a) the US Tranche Revolving Commitments, the US Tranche Revolving Loans and participations in Letters of Credit and
Swingline Loans (and participations therein) attributable to the US Tranche Revolving Commitments and (b) the European
Tranche Revolving Commitments, the European Tranche Revolving Loans and participations in Letters of Credit and Swingline Loans (and participations therein) attributable to the European Tranche Revolving Commitments. The categories of Revolving Commitments
and extensions of credit described under clauses (a) and (b) above are referred to, respectively, as the “US Tranche” and the “European Tranche”. 

“Tranche Percentage” means, at any time, with respect to any Lender holding any Revolving Commitment or Revolving Loan under
the US Tranche or the European Tranche, such Lender’s US Tranche Percentage or European Tranche Percentage, as applicable, at such time. 

  
 37 

 “Transactions” means (a) the execution, delivery and performance by the
Loan Parties of the Loan Documents, (b) the satisfaction of the Guarantee Requirement and (c) the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. 

“TripAdvisor Holdings” means TripAdvisor Holdings, LLC, a Massachusetts limited liability company and a Wholly Owned
Subsidiary. 
 “TripAdvisor LLC” means TripAdvisor LLC, a Delaware limited liability company and a Wholly Owned Subsidiary.

 “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the
Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate, the LIBO Rate, the EURIBO Rate or the Alternate Base Rate. 

“UCP” means, with respect to any Letter of Credit, the Uniform
Customs and Practice for Documentary Credits, International Chamber of Commerce Publication No. 600 (or such later version thereof as may be in effect at the time of issuance). 

“UK Loan Party” means any Borrower or any other Loan Party (a) that is organized or formed under the laws of the United
Kingdom or (b) payments from which under this Agreement or any other Loan Document are from sources within the United Kingdom for United Kingdom income tax purposes and subject to withholding Taxes imposed by the laws of the United Kingdom.

 “Undisclosed Administration” means, with respect to any Lender, the appointment of an administrator or other similar
supervisory official by a supervisory authority or regulator pursuant to the law of the country where such Lender is subject to home jurisdiction supervision if the applicable law of such country requires that such appointment not be publicly
disclosed (and such appointment has not been publicly disclosed). 
 “Unrestricted Cash” means, as of any date with respect to any Person, cash and Permitted Investments directly owned on such date by Parent and the Subsidiary Loan Parties that are Domestic
Subsidiariessuch Person, as such amount would appear on a consolidated balance sheet of Parentsuch Person prepared as of such date in
accordance with GAAP, provided that (a) such cash and Permitted Investments do not appear (and would not be required to appear) as “restricted” on a consolidated balance sheet of such Person prepared in accordance with
GAAP, and (b) such cash and Permitted Investments are free and clear of all Liens, other than nonconsensual
Permitted Encumbrances and Liens created under the Loan Documents. 
 “US Dollar Equivalent” means, on any date of
determination, (a) with respect to any amount in US Dollars, such amount, and (b) with respect to any amount in any currency other than US Dollars, the equivalent in US Dollars of such amount, determined by the Administrative Agent using
the Exchange Rate or the LC Exchange Rate, as applicable, with respect to such currency in effect for such amount on such date. The US Dollar Equivalent at any time of the amount of any Letter of Credit, LC Disbursement or Loan denominated in any
currency other than US Dollars shall be the amount most recently determined as provided in Section 1.05(b). 

  
 38 

 “US Dollars” or “US$” refers to lawful money of the United
States of America. 
 “US Person” means a “United States person” within the meaning of Section 7701(a)(30)
of the Code. 
 “US Tranche” has the meaning assigned to such term in the definition of the term “Tranche”. 

“US Tranche Percentage” means, at any time, with respect to any US Tranche Revolving Lender, the percentage of the total US
Tranche Revolving Commitments represented by such Lender’s US Tranche Revolving Commitment at such time. If the US Tranche Revolving Commitments have terminated or expired, the US Tranche Percentages shall be determined based upon the US
Tranche Revolving Commitments most recently in effect, giving effect to any assignments. 
 “US Tranche Revolving
Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make US Tranche Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans, expressed as an amount representing the
maximum aggregate permitted amount of such Lender’s US Tranche Revolving Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.09 and (b) reduced or increased from time to
time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s US Tranche Revolving Commitment is set forth on Schedule 2.01 or in the Assignment and Assumption or the Incremental Facility
Agreement pursuant to which such Lender shall have assumed or provided its US Tranche Revolving Commitment, as applicable. The aggregate amount of the Lenders’ US Tranche Revolving Commitments as of the First Amendment Effective Date is zero. 
 “US Tranche
Revolving Exposure” means, at any time, the sum of (a) the aggregate principal amount of the US Tranche Revolving Loans outstanding at such time, (b) the US Tranche Share of the LC Exposure at such time and (c) the US Tranche
Share of the Swingline Exposure at such time. The US Tranche Revolving Exposure of any Lender at any time shall be such Lender’s US Tranche Percentage of the total US Tranche Revolving Exposure at such time, adjusted to give effect to any reallocation under Section 2.20 of the LC Exposure and Swingline Exposure of Defaulting Lenders in effect at such time;
provided that in the case of the Lender that is the Swingline Lender, its US Tranche Revolving Exposure shall be (i) determined without giving effect to clause (c) above and (ii) increased by the full amount of its Swingline
Exposure determined in accordance with the definition of such term. 
 “US Tranche Revolving Lender” means a Lender with a
US Tranche Revolving Commitment or US Tranche Revolving Exposure. 
 “US Tranche Revolving Loan” means a Loan made pursuant
to Section 2.01(b). Each US Tranche Revolving Loan shall be an ABR Loan or a Eurocurrency Loan. 

  
 39 

 “US Tranche Share” means, at any time, a percentage determined by dividing the
aggregate amount of the US Tranche Revolving Commitments at such time by the aggregate amount of the Revolving Commitments at such time. 

“USA Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)). 
 “Wholly Owned
Subsidiary” means any Subsidiary all the Equity Interests in which (other than directors’ qualifying shares and/or other nominal amounts of Equity Interests that are required under applicable law to be held by Persons other than Parent
or the Wholly Owned Subsidiaries) are owned, directly or indirectly, by Parent. 
 “Withdrawal Liability” means liability
to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Write-Down and Conversion Powers” means, with respect to any EEA
Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In
Legislation Schedule. 
 SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement, Loans
and Borrowings may be classified and referred to by Class (e.g., a “Revolving Loan” or “Revolving Borrowing”) or by Type (e.g., a “Eurocurrency Loan” or “Eurocurrency Borrowing”) or by Class and Type (e.g., a
“Eurocurrency US Tranche Revolving Loan” or “Eurocurrency US Tranche Revolving Borrowing”). 
 SECTION 1.03. Terms
Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
“include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word
“shall”. The words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all real and personal, tangible and intangible assets and properties, including cash, securities,
accounts and contract rights. The word “law” shall be construed as referring to all statutes, rules, regulations, codes and other laws (including official rulings and interpretations thereunder having the force of law or with which
affected Persons customarily comply), and all judgments, orders, writs and decrees, of all Governmental Authorities. Except as otherwise provided herein and unless the context requires otherwise, (a) any definition of or reference to any
agreement, instrument or other document herein (including to this Agreement or any other Loan Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified
(subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any definition of or reference to any statute, rule or regulation shall be construed as referring thereto as from time to time amended,
supplemented or otherwise modified (including by succession of 

  
 40 

 
comparable successor laws), (c) any reference herein to any Person shall be construed to include such Person’s successors and assigns (subject to any restrictions on assignment set
forth herein) and, in the case of any Governmental Authority, any other Governmental Authority that shall have succeeded to any or all functions thereof, (d) the words “herein”, “hereof” and “hereunder”, and words
of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof and (e, (e) references herein to “the date hereof”, “the date of this Agreement” or words of similar import shall be deemed to refer to the Original Effective Date and
(f) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement.

 SECTION 1.04. Accounting Terms; GAAP; Pro Forma Calculations. (a) Except as otherwise expressly provided herein, all
terms of an accounting or financial nature used herein shall be construed in accordance with GAAP as in effect from time to time; provided that (i) if Parent notifies the Administrative Agent that Parent requests an amendment to any
provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies Parent that the Required Lenders request an
amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and
applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith and (ii) notwithstanding any other provision contained herein, all terms of an
accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, (A) without giving effect to any election under
Statement of Financial Accounting
Standards No. 159, The Fair Value Option for Financial Assets and Financial Liabilities, or any successor thereto (including pursuant to theCodification 825 (or any other Accounting
Standards Codification having a similar result or effect and related
interpretations), to value any Indebtedness of Parent or any Subsidiary at “fair value”, as
defined therein, (B) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated
manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof and, (C) without giving effect to any valuation of Indebtedness
below its full stated principal amount as a result of application of Financial Accounting Standards Board
Accounting Standards
Update No. 2015-03, it being agreed that Indebtedness shall at all times be valued at the full stated principal amount thereof, and (D) without giving effect to any change to
GAAP occurring after the date hereofOriginal Effective
Date in accounting for leases as a result of the adoption of any proposals set forth in the Proposedimplementation of Financial
Accounting Standards Update,
Board ASU No. 2016-02, Leases (Topic
840), issued by the Financial Accounting Standards Board on August 17, 2010,842) or any other proposals issued by the Financial Accounting Standards Board in connection therewith, in each case ifto the extent such changeimplementation would require treating any
lease (or similar arrangement conveying the right to use) as a capital lease where such lease (or similar arrangement) would not have been required to be so treated under GAAP as in effect on the date hereofOriginal Effective Date. 

  
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 (b) All pro forma computations required to be made hereunder giving effect to any Material
Acquisition, Material Disposition or other transaction shall reflect on a pro forma basis such event and, to the extent applicable, the historical earnings and cash flows associated with the assets acquired or disposed of and any related incurrence
or reduction of Indebtedness, all in accordance with Article 11 of Regulation S-X under the Securities Act, and, in the case of Material Acquisitions, may also reflect (i) any projected synergies or
similar benefits (net of continuing associated expenses) expected to be realized as a result of such event to the extent such synergies or similar benefits would be permitted to be reflected in financial statements prepared in compliance with
Article 11 of Regulation S-X under the Securities Act and (ii) any other demonstrable cost-savings and other adjustments (net of continuing associated expenses) not included in the foregoing clause (i)
(including, without limitation, pro forma “run rate” cost savings, operating expense reductions and restructurings) that are reasonably identifiable and projected by Parent in good faith to result from actions that have been taken or with
respect to which substantial steps have been taken or are expected to be taken (in the good faith determination of Parent) within 12 months after such Material Acquisition is consummated and which are so set forth in a certificate of a Financial
Officer of Parent; provided that (A) projected (and not yet realized) cost-savings and other adjustments may no longer be added pursuant to this paragraph after 18 months after the consummation of the applicable Material Acquisition,
(B) all adjustments pursuant to this paragraph will be without duplication of any amounts that are otherwise included or added back in computing Consolidated EBITDA in accordance with the definition of such term, (C) the aggregate
additions to Consolidated EBITDA, for any period being tested, pursuant to clause (ii) above (the “Pro Forma Capped Adjustments”), together with the aggregate amount of all other Capped Adjustments for such period, shall not
exceed 15% of Consolidated EBITDA for such period determined prior to giving effect to any addback for any Capped Adjustments and (D) if any cost savings or other adjustments included in any pro forma calculations based on the anticipation that
such cost savings or other adjustments will be achieved within such 18-month period shall at any time cease to be reasonably anticipated by Parent to be so achieved, then, on and after such time, pro forma
calculations required to be made hereunder shall not reflect such cost savings or other adjustments. 
 SECTION 1.05. Currency
Translation. (a) For purposes of any determination under Section 6.01, 6.02, 6.03, 7.01(f), 7.01(g) or 7.01(k), all amounts incurred, outstanding or proposed to be incurred or outstanding in currencies other than US Dollars shall be
translated into US Dollars at currency exchange rates in effect on the date of such determination; provided that no Default or Event of Default shall arise as a result of any limitation set forth in US Dollars in Section 6.01, 6.02 or
6.03 being exceeded solely as a result of changes in currency exchange rates from those rates applicable at the time or times Indebtedness, Liens or Sale/Leaseback Transactions were initially consummated in reliance on the exceptions under such
Sections. For purposes of any determination under Sections 6.05 and 6.08, the amount of each payment, disposition or other applicable transaction denominated in a currency other than US Dollars shall be translated into US Dollars at the applicable
currency exchange rate in effect on the date of the consummation thereof. Such currency exchange rates shall be determined in good faith by Parent. For purposes of Section 6.10 and the related definitions, amounts in currencies other than US
Dollars shall be translated into US Dollars at the currency exchange rates then most recently used in preparing Parent’s consolidated financial statements. 

  
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 (b) (i) The Administrative Agent shall determine the US Dollar Equivalent of any Letter
of Credit denominated in an Alternative Currency as of the date of the issuance thereof and on the first Business Day of each calendar month on which such Letter of Credit is outstanding, in each case using the Exchange Rate in effect on the date of
determination, and each such amount shall be the US Dollar Equivalent of such Letter of Credit until the next required calculation thereof pursuant to this Section. The Administrative Agent shall in addition determine the US Dollar
Equivalent of any Letter of Credit denominated in an Alternative Currency as provided in Sections 2.06(e) and 2.06(l). 

(ii) The Applicable Agent shall determine the US Dollar Equivalent of any Borrowing denominated in an Alternative Currency
on or about the date of the commencement of the initial Interest Period therefor and as of the date of the commencement of each subsequent Interest Period therefor, in each case using the Exchange Rate in effect on the date of determination, and
each such amount shall, except as provided in the next sentence, be the US Dollar Equivalent of such Borrowing until the next required calculation thereof pursuant to this Section. The Administrative Agent shall in addition determine the
US Dollar Equivalent of any Revolving Borrowing denominated in an Alternative Currency as of the CAM Exchange Date, and such amount shall be the US Dollar Equivalent of such Revolving Borrowing for all purposes of Section 7.02. 

(iii) The Applicable Agent may also determine the US Dollar Equivalent of any Borrowing or Letters of Credit denominated
in an Alternative Currency as of such other dates as such Applicable Agent shall determine, in each case using the Exchange Rate in effect on the date of determination, and each such amount shall be the US Dollar Equivalent of such Borrowing or
Letter of Credit until the next calculation thereof pursuant to this Section. 
 (iv) The Administrative Agent shall notify
Parent, the applicable Lenders and the applicable Issuing Bank of each determination of the US Dollar Equivalent of each Letter of Credit, Borrowing and LC Disbursement. 

ARTICLE II 
 The Credits

 SECTION 2.01. Commitments. (a) Subject to the terms and conditions set forth herein, each US Tranche Revolving Lender
agrees to make from time to time during the Revolving Availability Period to the Borrowers Loans denominated in US Dollars in an aggregate principal amount that will not result in (i) such Lender’s US Tranche Revolving Exposure exceeding
such Lender’s US Tranche Revolving Commitment or (ii) the Aggregate US Tranche Revolving Exposure exceeding the Aggregate US Tranche Revolving Commitment. Within the foregoing limits and subject to the terms and conditions set forth
herein, the Borrowers may borrow, prepay and reborrow US Tranche Revolving Loans. 
 (b) Subject to the terms and conditions set forth
herein, each European Tranche Revolving Lender agrees to make from time to time during the Revolving Availability Period to the Borrowers Loans denominated in US Dollars, Euro or Sterling in an aggregate

  
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principal amount that will not result in (i) such Lender’s European Tranche Revolving Exposure exceeding such Lender’s European Tranche Revolving Commitment or (ii) the
Aggregate European Tranche Revolving Exposure exceeding the Aggregate European Tranche Revolving Commitment. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow European
Tranche Revolving Loans. 
 (c) Incremental Term Commitments of one or more Classes may be established as provided in Section 2.21, and
the Incremental Term Loans thereunder shall be made in accordance with such Section. 
 SECTION 2.02. Loans and Borrowings.
(a) Each Loan (other than a Swingline Loan) shall be made as part of a Borrowing consisting of Loans of the same Class, Type and currency made by the Lenders ratably in accordance with their respective Commitments of the applicable
Class to the same Borrower. Each Swingline Loan shall be made in accordance with the procedures set forth in Section 2.05. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its
obligations hereunder; provided that the Commitments of the Lenders are several and not joint and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 

(b) Subject to Section 2.14, each Borrowing shall be comprised (i) in the case of Borrowings (other than a Swingline Loan)
denominated in US Dollars, entirely of ABR Loans or Eurocurrency Loans, as the applicable Borrower may request in accordance herewith, and (ii) in the case of Borrowings denominated in any other currency, entirely of Eurocurrency Loans. Each
Swingline Loan shall be an ABR Loan. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the
obligation of the applicable Borrower to repay such Loan in accordance with the terms of this Agreement. 
 (c) At the commencement of each
Interest Period for any Eurocurrency Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum; provided that a Eurocurrency Borrowing that results
from a continuation of an outstanding Eurocurrency Borrowing may be in an aggregate amount that is equal to such outstanding Borrowing. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral
multiple of US$1,000,000 and not less than US$1,000,000; provided that an ABR Revolving Borrowing or, subject to Section 2.05, a Swingline Loan may be in an aggregate amount that is equal to the entire unused balance of the total
Commitments of the applicable Class or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e). Borrowings of more than one Type and Class may be outstanding at the same time; provided
that there shall not at any time be more than a total of 10 (or such greater number as may be agreed to by the Administrative Agent) Eurocurrency Borrowings outstanding. 

(d) Notwithstanding any other provision of this Agreement, the Borrowers shall not be entitled to request, or to elect to convert or continue,
any Eurocurrency Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date applicable thereto. 

  
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 SECTION 2.03. Requests for Borrowings. To request a Borrowing (other than a Swingline
Loan), the applicable Borrower, or Parent on its behalf, shall notify the Applicable Agent of such request (a) in the case of a Eurocurrency Borrowing denominated in US Dollars, not later than 11:00 a.m., New York City time, three Business Days
before the date of the proposed Borrowing, (b) in the case of a Borrowing denominated in Euro or Sterling, not later than 11:00 a.m., London time, four Business Days before the date of the proposed Borrowing or (c) in the case of an ABR
Borrowing, not later than 10:00 a.m., New York City time, on the date of the proposed Borrowing or, in the case of any Incremental Term Loans, such other time as may be specified therefor in the applicable Incremental Facility Agreement. Each such
Borrowing Request shall be made by Electronic Communication to the Applicable Agent of a written Borrowing Request signed by the applicable Borrower, or Parent on its behalf (or, in the case of any Borrowing denominated in US Dollars, by telephone
notification, confirmed promptly by Electronic Communication to the Administrative Agent of a written Borrowing Request signed by the applicable Borrower, or Parent on its behalf). Each such telephonic and written Borrowing Request shall be
irrevocable (other than, subject to Section 2.16, in the case of a Borrowing Request for any Incremental Term Loans, where such Borrowing Request may be revoked by the applicable Borrower, or Parent on its behalf, prior to the making of the
requested Incremental Term Loans) and shall specify the following information in compliance with Section 2.02: 
 (a)
the Borrower requesting such Borrowing (or on whose behalf Parent is requesting such Borrowing); 
 (b) whether the requested
Borrowing is to be a European Tranche Revolving Borrowing, a US Tranche Revolving Borrowing or a Borrowing of another Class; 

(c) the aggregate amount and currency of the requested Borrowing; 

(d) the date of such Borrowing, which shall be a Business Day; 

(e) if denominated in US Dollars, whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; 

(f) in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period
contemplated by the definition of the term “Interest Period”, and the last day thereof; and 
 (g) the location and
number of the account of the applicable Borrower to which funds are to be disbursed, which shall be reasonably satisfactory to the Applicable Agent, or, in the case of any ABR Revolving Borrowing requested to finance the reimbursement of an LC
Disbursement as provided in Section 2.06(e), the identity and the account of the Issuing Bank that had made such LC Disbursement. 
 If no currency is
specified with respect to any requested European Tranche Revolving Borrowing, then the applicable Borrower shall be deemed to have selected US Dollars. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be
(i) if denominated in US Dollars, an ABR Borrowing and (ii) if denominated in any other currency, a Eurocurrency Borrowing. If no Interest Period is specified with respect to any requested Eurocurrency

  
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Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this
Section, the Applicable Agent shall advise each Lender of the applicable Class of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. 

SECTION 2.04. Borrowing Subsidiaries. (a) Parent may designate, subject to the provisions of this Section, any Wholly Owned
Subsidiary (other than any Excluded Subsidiary or a Specified Foreign Subsidiary) as a Borrowing Subsidiary by delivery to the Administrative Agent of a Borrowing Subsidiary Agreement executed by such Subsidiary and Parent. Promptly following
receipt of any Borrowing Subsidiary Agreement, the Administrative Agent shall inform each Revolving Lender of the receipt thereof. Unless any Revolving Lender shall inform the Administrative Agent within 10 Business Days (or, in the case of any such
Subsidiary that is a Foreign Subsidiary, 15 Business Days) of the receipt of such notice that it is unlawful for such Revolving Lender to extend credit to such Subsidiary or that such Lender is restricted by internal policies of general
applicability from extending credit to Persons organized or located in the jurisdiction in which such Subsidiary is organized or located, such Subsidiary shall for all purposes of this Agreement be a Borrowing Subsidiary and a party to this
Agreement; provided that no Subsidiary shall become a Borrowing Subsidiary until each Revolving Lender shall have received all documentation and other information with respect to such Borrowing Subsidiary required by bank regulatory
authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act, that shall have been requested by such Revolving Lender within the applicable period set forth above
following its receipt of such Borrowing Subsidiary Agreement. 
 (b) Upon the execution by Parent and delivery to the Administrative Agent
of a Borrowing Subsidiary Termination with respect to any Borrowing Subsidiary, such Subsidiary shall cease to be a Borrowing Subsidiary hereunder and a party to this Agreement; provided that no Borrowing Subsidiary Termination will become
effective as to any Borrowing Subsidiary (other than to terminate such Borrowing Subsidiary’s right to make further Borrowings or obtain Letters of Credit under this Agreement) at a time when any principal of or interest on any Loan to such
Borrowing Subsidiary or any Letter of Credit issued for the account of such Borrowing Subsidiary shall be outstanding hereunder. Promptly following receipt of any Borrowing Subsidiary Termination, the Administrative Agent shall inform each Lender of
the receipt thereof. 
 (c) Each Borrowing Subsidiary hereby irrevocably appoints Parent as its agent for all purposes of this Agreement and
the other Loan Documents, including (i) the giving and receipt of notices (including any Borrowing Request and any Interest Election Request) and (ii) the execution and delivery of all documents, instruments and certificates contemplated
herein. Each Borrowing Subsidiary hereby acknowledges that any amendment or other modification to this Agreement or any other Loan Document may be effected as set forth in Section 9.02, that no consent of such Borrowing Subsidiary shall be
required to effect any such amendment or other modification and that such Borrowing Subsidiary shall be bound by this Agreement or any other Loan Document (if it is theretofore a party thereto) as so amended or modified. 

SECTION 2.05. Swingline Loans. (a) Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Loans
denominated in US Dollars to the Borrowers from time to time during the Revolving Availability Period in an aggregate principal 

  
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amount at any time outstanding that will not result in (i) the aggregate principal amount of the outstanding Swingline Loans exceeding US$40,000,000, (ii) any Lender’s US Tranche
Revolving Exposure exceeding such Lender’s US Tranche Revolving Commitment, (iii) the Aggregate US Tranche Revolving Exposure exceeding the Aggregate US Tranche Revolving Commitment, (iv) any Lender’s European Tranche Revolving
Exposure exceeding such Lender’s European Tranche Revolving Commitment or (v) the Aggregate European Tranche Revolving Exposure exceeding the Aggregate European Tranche Revolving Commitment; provided that the Swingline Lender shall
not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Swingline Loans. 

(b) To request a Swingline Loan, the applicable Borrower, or Parent on its behalf, shall notify the Administrative Agent of such request by
telephone (promptly confirmed by Electronic Communication of a written Borrowing Request signed by the applicable Borrower, or by Parent on its behalf) not later than 2:00 p.m., New York City time, on the day of a proposed Swingline Loan. Each such
telephonic and written Borrowing Request shall be irrevocable and shall specify the requested date (which shall be a Business Day) and the amount of the requested Swingline Loan. The Administrative Agent will promptly advise the Swingline Lender of
any such notice received from, or on behalf of, a Borrower. The Swingline Lender shall make each Swingline Loan available to the applicable Borrower by means of a credit to the general deposit account of such Borrower with the Swingline Lender (or,
in the case of a Swingline Loan requested to be made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(e), by remittance to the account of the applicable Issuing Bank identified in such Borrowing Request) by 3:30 p.m.,
New York City time, on the requested date of such Swingline Loan. 
 (c) The Swingline Lender may by written notice given to the
Administrative Agent not later than 12:00 noon, New York City time, on any Business Day require the Revolving Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall specify
the aggregate principal amount of the Swingline Loans in which the Revolving Lenders will be required to participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in
such notice such Lender’s Combined Tranche Percentage of such Swingline Loan or Loans. Each Revolving Lender hereby absolutely and unconditionally agrees to pay, promptly upon receipt of notice as provided above (and in any event, if such
notice is received by 12:00 noon, New York City time, on a Business Day, no later than 5:00 p.m., New York City time, on such Business Day and if received after 12:00 noon, New York City time, on a Business Day, no later than 10:00 a.m., New York
City time, on the immediately succeeding Business Day), to the Administrative Agent, for the account of the Swingline Lender, such Lender’s Combined Tranche Percentage of such Swingline Loan or Loans. Each Revolving Lender acknowledges and
agrees that, in making any Swingline Loan, the Swingline Lender shall be entitled to rely, and shall not incur any liability for relying, upon the representation and warranty of each Borrower deemed made pursuant to Section 4.02, unless, at
least two Business Days prior to the time such Swingline Loan was made, the Majority in Interest of the Revolving Lenders shall have notified the Swingline Lender (with a copy to the Administrative Agent) in writing that, as a result of one or more
events or circumstances described in such notice, one or more of the conditions precedent set forth in Section 4.02 would not be satisfied if such Swingline Loan were then made (it being understood

  
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and agreed that, in the event the Swingline Lender shall have received any such notice, it shall have no obligation to make any Swingline Loan until and unless it shall be satisfied that the
events and circumstances described in such notice shall have been cured or otherwise shall have ceased to exist). Each Revolving Lender further acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this
paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or any reduction or termination of the Revolving Commitments, and that each such payment shall be
made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.07
with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders pursuant to this paragraph), and the Administrative Agent shall promptly pay to the
Swingline Lender the amounts so received by it from the Revolving Lenders. The Administrative Agent shall notify the applicable Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in
respect of such Swingline Loan shall be made to the Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender from a Borrower (or other Person on behalf of a Borrower) in respect of a Swingline Loan after
receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent
to the Revolving Lenders that shall have made their payments pursuant to this paragraph and to the Swingline Lender, as their interests may appear; provided that any such payment so remitted shall be repaid to the Swingline Lender or to the
Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to a Borrower for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve a Borrower of any default
in the payment thereof. 
 SECTION 2.06. Letters of Credit. (a) General. Subject to the terms and conditions set forth
herein, each Borrower may request the issuance of Letters of Credit for its own account, in a form reasonably acceptable to the Administrative Agent and the applicable Issuing Bank, at any time and from time to time during the Revolving Availability
Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by a Borrower to, or entered into by a Borrower with,
an Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. The Existing Letters of Credit will, for all purposes of this Agreement (including paragraphs (d) and (e) of this Section), be deemed to
have been issued hereunder on the Original Effective Date and will, for all purposes of this Agreement, constitute Letters of Credit. This Section shall not be construed
to impose an obligation upon any Issuing Bank to issue any Letter of Credit if (i) any order, judgment or decree of any Governmental Authority shall by its terms purport to enjoin or restrain such Issuing Bank from issuing such Letter of
Credit, or any law applicable to such Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Bank shall prohibit, or request that such Issuing Bank
refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or, in the case of any Borrowing Subsidiary designated as such after the date hereof, shall impose upon such Issuing Bank with respect to such Letter of
Credit any restriction, reserve or capital or liquidity 

  
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requirement, or shall impose upon such Issuing Bank any unreimbursed loss, cost or expense, in each case for which such Issuing Bank is not otherwise compensated hereunder, (ii) the issuance
of such Letter of Credit would violate one or more policies of general applicability of such Issuing Bank or (iii) such Letter of Credit is not of the type, or in the currency, approved for issuance by such Issuing Bank (with each Issuing Bank
acknowledging that standby Letters of Credit are of the type approved for issuance by such Issuing Bank). 
 (b) Notice of Issuance,
Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit, other than an automatic renewal permitted pursuant to paragraph
(c) of this Section), the applicable Borrower shall deliver by Electronic Communication to the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a
notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which
such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the currency in which such Letter of Credit is to be denominated (which shall be US Dollars or an Alternative
Currency), the name and address of the beneficiary thereof and such other information as shall be necessary to enable the applicable Issuing Bank to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank,
the applicable Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any such request. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon each issuance,
amendment, renewal or extension of any Letter of Credit the applicable Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed
US$15,000,000, (ii) any Lender’s US Tranche Revolving Exposure shall not exceed such Lender’s US Tranche Revolving Commitment, (iii) the Aggregate US Tranche Revolving Exposure shall not exceed the Aggregate US Tranche Revolving
Commitment, (iv) any Lender’s European Tranche Revolving Exposure shall not exceed such Lender’s European Tranche Revolving Commitment, (v) the Aggregate European Tranche Revolving Exposure shall not exceed the Aggregate European
Tranche Revolving Commitment and (vi) the portion of the LC Exposure attributable to Letters of Credit issued by any Issuing Bank shall not exceed the LC Commitment of such Issuing Bank. 

(c) Expiration Date. Each Letter of Credit shall by its terms expire at or prior to the close of business on the earlier of
(i) the date 18 months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, 13 months after such renewal or extension) and (ii) the date that is five Business Days prior to the
Revolving Maturity Date; provided that any Letter of Credit may contain customary automatic renewal provisions agreed upon by the applicable Borrower and the applicable Issuing Bank pursuant to which the expiration date of such Letter of
Credit shall automatically be extended for a period of up to 13 months (but not to a date later than the date set forth in clause (ii) above), subject to a right on the part of such Issuing Bank to prevent any such renewal from occurring
pursuant to the terms of such Letter of Credit. 

  
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 (d) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of
Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Revolving Lenders, the Issuing Bank that is the issuer thereof hereby grants to each Revolving Lender, and each Revolving Lender
hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Revolving Lender’s Combined Tranche Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in
furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the applicable Issuing Bank, such Revolving Lender’s Combined Tranche Percentage of each LC
Disbursement made by such Issuing Bank and not reimbursed by the applicable Borrower on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment in respect of an LC Disbursement required to be refunded to a
Borrower for any reason. Such payment by the Revolving Lenders shall be made (i) if the currency of the applicable LC Disbursement or reimbursement payment shall be US Dollars, in US Dollars and (ii) subject to paragraph (l) of this
Section, if the currency of the applicable LC Disbursement or reimbursement payment shall be an Alternative Currency, in US Dollars in an amount equal to the US Dollar Equivalent of such LC Disbursement or reimbursement payment, calculated by
the Administrative Agent using the LC Exchange Rate on the applicable LC Participation Calculation Date. Each Revolving Lender acknowledges and agrees that (A) its obligation to acquire participations pursuant to this paragraph in respect of
Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit, the occurrence and continuance of a Default, any reduction or
termination of the Revolving Commitments, any fluctuation in currency values, or any force majeure or other event that under any rule of law or uniform practices to which any Letter of Credit is subject (including Section 3.14 of ISP 98 or any successor publication of the International Chamber of Commerce) permits a drawing to be made under such Letter of Credit
after the expiration thereof or of the Revolving Commitments and (ii) each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender further acknowledges and agrees that, in
issuing, amending, renewing or extending any Letter of Credit, the applicable Issuing Bank shall be entitled to rely, and shall not incur any liability for relying, upon the representation and warranty of each Borrower deemed made pursuant to
Section 4.02, unless, at least two Business Days prior to the time such Letter of Credit is issued, amended, renewed or extended (or, in the case of an automatic renewal permitted pursuant to paragraph (c) of this Section, at least two
Business Days prior to the time by which the election not to renew must be made by the applicable Issuing Bank), the Majority in Interest of the Revolving Lenders shall have notified the applicable Issuing Bank (with a copy to the Administrative
Agent) in writing that, as a result of one or more events or circumstances described in such notice, one or more of the conditions precedent set forth in Section 4.02 would not be satisfied if such Letter of Credit were then issued, amended,
renewed or extended (it being understood and agreed that, in the event any Issuing Bank shall have received any such notice, it shall have no obligation to issue, amend, renew or extend any Letter of Credit until and unless it shall be satisfied
that the events and circumstances described in such notice shall have been cured or otherwise shall have ceased to exist). 
 (e)
Reimbursement. If an Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the applicable Borrower shall reimburse such LC Disbursement by 

  
 50 

 
paying to the Administrative Agent an amount in the currency of such LC Disbursement equal to such LC Disbursement not later than (i) if such Borrower shall have received notice of such LC
Disbursement prior to 11:00 a.m., Local Time, on any Business Day, then 4:00 p.m., Local Time, on such Business Day or (ii) otherwise, 12:00 noon, Local Time, on the Business Day immediately following the day that such Borrower receives such
notice; provided that, if such LC Disbursement is denominated in US Dollars and is not less than US$1,000,000, the applicable Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.03
or 2.05 that such payment be financed with an ABR Revolving Borrowing or a Swingline Loan in an equivalent amount and, to the extent so financed, such Borrower’s obligation to make such payment shall be discharged and replaced by the resulting
ABR Revolving Borrowing or Swingline Loan. If the applicable Borrower fails to make any such reimbursement payment when due, (A) if such payment relates to a Letter of Credit denominated in an Alternative Currency, automatically and with no
further action required, the obligation of such Borrower to reimburse the applicable LC Disbursement shall be permanently converted into an obligation to reimburse the US Dollar Equivalent, calculated using the LC Exchange Rate on the
applicable LC Participation Calculation Date, of such LC Disbursement and (B) in the case of each LC Disbursement, the Administrative Agent shall notify each Revolving Lender of the applicable LC Disbursement, the amount of the payment then due
from such Borrower in respect thereof and such Revolving Lender’s Combined Tranche Percentage thereof, and each Revolving Lender shall pay in US Dollars to the Administrative Agent on the date such notice is received its Combined Tranche
Percentage of the payment then due from such Borrower, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of
the Lenders pursuant to this paragraph), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Lenders. Promptly following receipt by the Administrative Agent of any payment
from a Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Revolving Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank,
then to such Revolving Lenders and such Issuing Bank as their interests may appear. Any payment made by a Revolving Lender pursuant to this paragraph to reimburse an Issuing Bank for any LC Disbursement (other than the funding of ABR Revolving Loans
or a Swingline Loan as contemplated above) shall not constitute a Loan and shall not relieve the applicable Borrower of its obligation to reimburse such LC Disbursement. If the applicable Borrower’s reimbursement of, or obligation to reimburse,
any amounts in any Alternative Currency would subject the Administrative Agent, the applicable Issuing Bank or any Revolving Lender to any stamp duty, ad valorem charge or similar tax that would not be payable if such reimbursement were made or
required to be made in US Dollars, such Borrower shall pay the amount of any such tax requested by the Administrative Agent, such Issuing Bank or such Revolving Lender. 

(f) Obligations Absolute. The obligation of each Borrower to reimburse LC Disbursements as provided in paragraph (e) of this
Section is absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit, this Agreement or any other Loan Document, or any term or provision herein or therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any
statement therein being untrue or inaccurate in 

  
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any respect, (iii) payment by any Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit,
(iv) any force majeure or other event that under any rule of law or uniform practices to which any Letter of Credit is subject (including Section 3.14 of ISP
98 or any successor publication of the International Chamber of Commerce) permits a drawing to be made under such Letter of Credit after the stated expiration date thereof or of the
Commitments or (v) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff
against, such Borrower’s obligations hereunder. None of the Agents, the Lenders, the Issuing Banks or any of their Related Parties shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any
Letter of Credit, any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), any error, omission, interruption, loss or delay in transmission or delivery of any draft,
notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any other act, failure to act or other event or circumstance;
provided that the foregoing shall not be construed to excuse any Issuing Bank from liability to a Borrower to the extent of any direct damages (as opposed to special, indirect consequential or punitive damages, claims in respect of which are
hereby waived by each Borrower to the extent permitted by applicable law) suffered by such Borrower that are caused by such Issuing Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter of
Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of an Issuing Bank (with such absence to be presumed for purposes of this Section 2.06 unless
otherwise determined in a nonappealable judgment by a court of competent jurisdiction), such Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof,
the parties agree that, with respect to documents presented that appear on their face to be in substantial compliance with the terms of a Letter of Credit, the applicable Issuing Bank may, in its sole discretion, either accept and make payment upon
such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such
Letter of Credit. 
 (g) Disbursement Procedures. The applicable Issuing Bank shall, promptly following its receipt thereof,
examine all documents purporting to represent a demand for payment under a Letter of Credit. The applicable Issuing Bank shall promptly notify the Administrative Agent and the applicable Borrower by telephone (confirmed by email or facsimile) of
such demand for payment and whether such Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the applicable Borrower of its obligation to
reimburse such Issuing Bank and the Revolving Lenders with respect to any such LC Disbursement. 
 (h) Interim Interest. If an
Issuing Bank shall make any LC Disbursement, then, unless the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof (determined in accordance with the definition thereof)
shall bear interest, for each day from and including the date such LC Disbursement is 

  
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made to but excluding the date that the applicable Borrower reimburses such LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the
conversion to US Dollars of any LC Disbursement made in an Alternative Currency pursuant to paragraph (e) or (l) of this Section, at the rate per annum then applicable to ABR Revolving Loans and (ii) if such LC Disbursement is made in an
Alternative Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) or (l) of this Section, at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of
funding such LC Disbursement plus the Applicable Rate applicable to Eurocurrency Revolving Loans at such time; provided that, if the applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this
Section, then Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any
Revolving Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be paid to the Administrative Agent for the account of such Revolving Lender to the extent of such payment, and shall be payable on demand or, if no
demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full. 
 (i) Replacement
of an Issuing Bank. An Issuing Bank may be replaced at any time by written agreement among Parent, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank and execution and delivery by Parent, the Administrative Agent
and the successor Issuing Bank of an Issuing Bank Agreement. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an Issuing Bank. At the time any such replacement shall become effective, the Borrowers shall pay all
unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of an Issuing Bank
under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and
all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under
this Agreement with respect to Letters of Credit issued by it prior to such replacement (including the right to receive fees under Section 2.12(b)), but shall not be required to issue additional Letters of Credit. 

(j) Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that Parent receives notice from
the Administrative Agent or a Majority in Interest of the Revolving Lenders demanding the deposit of cash collateral pursuant to this paragraph, each Borrower shall deposit in an account with the Administrative Agent, in the name of the
Administrative Agent and for the benefit of the Lenders and the Issuing Banks, an amount in US Dollars equal to the LC Exposure attributable to Letters of Credit issued for the account of such Borrower as of such date plus any accrued and unpaid
interest thereon; provided that (i) amounts payable in respect of any Letter of Credit or LC Disbursement shall be payable in the currency of such Letter of Credit or LC Disbursement, except that LC Disbursements in an Alternative
Currency in respect of which the applicable Borrower’s reimbursement obligations have been converted to obligations in US Dollars as provided in paragraph (e) or (l) of this Section and interest accrued thereon shall be payable in US
Dollars, and (ii) the obligation to 

  
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deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any
Event of Default with respect to any Borrower or any Material Subsidiary described in Section 7.01(h) or 7.01(i). The Borrowers shall also deposit cash collateral in US Dollars in accordance with this paragraph as and to the extent required by
Section 2.20. Each such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the applicable Borrower under this Agreement. The Administrative Agent shall have exclusive dominion
and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments shall be in Permitted Investments and shall be made at the option and sole discretion
of the Administrative Agent and at the applicable Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by
the Administrative Agent to reimburse the Issuing Banks for LC Disbursements for which they have not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the applicable Borrower
for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of (A) a Majority in Interest of the Revolving Lenders and (B) in the case of any such application at a time when any
Revolving Lender is a Defaulting Lender (but only if, after giving effect thereto, the remaining cash collateral shall be less than the total LC Exposure of all the Defaulting Lenders), the consent of each Issuing Bank), be applied to satisfy other
obligations of the Borrowers under this Agreement. If a Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be
returned to such Borrower within three Business Days after all Events of Default have been cured or waived. If the Borrowers provide an amount of cash collateral hereunder pursuant to Section 2.20, such amount (to the extent not applied as
aforesaid) shall be returned to the Borrowers, upon request of the Borrowers, to the extent that, after giving effect to such return, no Issuing Bank shall have any exposure in respect of any outstanding Letter of Credit that is not fully covered by
the Revolving Commitments of the Non-Defaulting Lenders and/or the remaining cash collateral and no Event of Default shall have occurred and be continuing. 

(k) Issuing Bank Reports. Unless otherwise agreed by the Administrative Agent, each Issuing Bank shall, in addition to its
notification obligations set forth elsewhere in this Section, report in writing to the Administrative Agent (i) on or prior to each Business Day on which such Issuing Bank issues, amends, renews or extends any Letter of Credit, the date of such
issuance, amendment, renewal or extension, and the currency and aggregate face amount of the Letters of Credit issued, amended, renewed or extended by it and outstanding after giving effect to such issuance, amendment, renewal or extension (and
whether the amount thereof shall have changed), it being understood that such Issuing Bank shall not effect any issuance, renewal, extension or amendment resulting in an increase in the amount of any Letter of Credit without first obtaining written
confirmation from the Administrative Agent that such increase is then permitted under this Agreement, (ii) on each Business Day on which such Issuing Bank makes any LC Disbursement, the date, currency and amount of such LC Disbursement,
(iii) on any Business Day on which a Borrower fails to reimburse an LC Disbursement required to be reimbursed to such Issuing Bank on such day, the date of such failure and the currency and amount of such LC Disbursement and (iv) on any
other Business Day, such other information as the Administrative Agent shall reasonably request as to the Letters of Credit issued by such Issuing Bank. 

  
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 (l) Conversion. In the event that the Loans become immediately due and payable on
any date pursuant to Section 7.01, all amounts (i) that the Borrowers are at the time or become thereafter required to reimburse or otherwise pay to the Administrative Agent in respect of LC Disbursements made under any Letter of Credit
denominated in an Alternative Currency (other than amounts in respect of which any Borrower has deposited cash collateral, if such cash collateral was deposited in the applicable
currency), (ii) that the Revolving Lenders are at the time or become thereafter required to pay to the Administrative Agent (and the Administrative Agent is at the time or becomes thereafter
required to distribute to the applicable Issuing Bank) pursuant to paragraph (e) of this Section in respect of unreimbursed LC Disbursements made under any Letter of Credit denominated in an Alternative Currency and (iii) of each Revolving
Lender’s participation in any Letter of Credit denominated in an Alternative Currency under which an LC Disbursement has been made shall, automatically and with no further action required, be converted into the US Dollar Equivalent,
calculated using the LC Exchange Rate on such date (or in the case of any LC Disbursement made after such date, on the date such LC Disbursement is made), of such amounts. On and after such conversion, all amounts accruing and owed to the
Administrative Agent, any Issuing Bank or any Revolving Lender in respect of the obligations described in this paragraph shall accrue and be payable in US Dollars at the rates otherwise applicable hereunder. 

(m) Communications with Beneficiaries. Each Issuing Bank shall use its commercially reasonable efforts to provide advance notice
to Parent of any formal communication by such Issuing Bank with any beneficiary under any Letter of Credit issued by such Issuing Bank with respect thereto, other than any such communication in the ordinary course of business or otherwise in
accordance with the standard operating procedures of such Issuing Bank. 
 (n) LC Exposure Determination. For all purposes of
this Agreement, the amount of a Letter of Credit that, by its terms or the terms of any document related thereto, provides for one or more automatic increases in the stated amount thereof shall be deemed to be the maximum stated amount of such
Letter of Credit after giving effect to all such increases (other than any such increase consisting of the reinstatement of an amount previously drawn thereunder and reimbursed), whether or not such maximum stated amount is in effect at the time of
determination. 
 (o) Applicability of ISP and UCP. Unless otherwise expressly agreed by the
Issuing Bank and the applicable Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit and (ii) the rules of the UCP
shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Issuing Bank shall not be responsible to any Borrower for, and the Issuing Bank’s rights and remedies against the Borrowers or the other Loan Parties shall not
be impaired by, any action or inaction of the Issuing Bank required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including any law or order of a jurisdiction
where the Issuing Bank or the beneficiary is located, the practice stated in the ISP or the UCP, as applicable, or in the decisions, opinions, practice 

  
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statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of
International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice. 
 SECTION
2.07. Funding of Borrowings. (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds in the applicable currency by 12:00 noon, Local Time, to the
account of the Applicable Agent most recently designated by it for such purpose by notice to the Lenders; provided that Swingline Loans shall be made as provided in Section 2.05. The Applicable Agent will make such Loans available to the
applicable Borrower by promptly crediting the amounts so received, in like funds, to an account of such Borrower designated by such Borrower in the applicable Borrowing Request; provided that ABR Revolving Loans made to finance the
reimbursement of an LC Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the applicable Issuing Bank specified in the applicable Borrowing Request. 

(b) Unless the Applicable Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not
make available to the Applicable Agent such Lender’s share of such Borrowing, the Applicable Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance
on such assumption, make available to the applicable Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Applicable Agent, then the applicable Lender and the
applicable Borrower severally agree to pay to the Applicable Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to such Borrower to but excluding the date
of payment to the Applicable Agent, at (i) in the case of such Lender, (A) if denominated in US Dollars, the greater of the New York Fed Bank Rate and a rate determined by the Applicable Agent in accordance with banking industry rules on
interbank compensation and (B) if denominated in an Alternative Currency, a rate determined by the Applicable Agent in accordance with banking industry rules on interbank compensation, or (ii) in the case of such Borrower, (A) if
denominated in US Dollars, the interest rate applicable to ABR Loans of the applicable Class and (B) if denominated in an Alternative Currency, the interest rate applicable to the subject Loan. If such Lender pays such amount to the
Applicable Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. If such Borrower and such Lender shall pay such interest to the Applicable Agent for the same or an overlapping period, the Applicable Agent
shall promptly remit to such Borrower the amount of such interest paid by such Borrower for such period. Any such payment by any Borrower shall be without prejudice to any claim such Borrower may have against a Lender that shall have failed to make
such payment to the Applicable Agent. 
 SECTION 2.08. Interest Elections. (a) Each Borrowing initially shall be of the
Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Borrowing, shall have an initial Interest Period as specified in such Borrowing Request or as otherwise provided in Section 2.03. Thereafter, the applicable
Borrower may elect to convert any such Borrowing denominated in US Dollars to a different Type or to continue any such 

  
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Borrowing and, in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section. The applicable Borrower may elect different options with respect to
different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate
Borrowing. This Section shall not apply to Swingline Loans, which may not be converted or continued. Notwithstanding any other provision of this Section, no Borrower shall be permitted to change the currency of any Borrowing or to convert any
Borrowing to a Type not available under the Class of Commitments pursuant to which such Borrowing was made. 
 (b) To make an election
pursuant to this Section, the applicable Borrower, or Parent on its behalf, shall notify the Applicable Agent of such election by the time that a Borrowing Request would be required under Section 2.03 if such Borrower were requesting a
Borrowing of the Type, and in the currency, resulting from such election to be made on the effective date of such election. Each such Interest Election Request shall be irrevocable and shall be made by Electronic Communication to the Applicable
Agent of a written Interest Election Request signed by such Borrower, or Parent on its behalf (or, in the case of any Borrowing denominated in US Dollars, by telephonic notification, confirmed promptly by email or facsimile to the Administrative
Agent of a written Interest Election Request signed by such Borrower, or Parent on its behalf). Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02: 

(i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to
different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing); 

(ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day; 

(iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; and 

(iv) if the resulting Borrowing is to be a Eurocurrency Borrowing, the Interest Period to be applicable thereto after giving
effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 
 If any such Interest Election
Request requests a Eurocurrency Borrowing but does not specify an Interest Period, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

(c) Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the applicable
Class of the details thereof and of such Lender’s portion of each resulting Borrowing. 

  
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 (d) If a Borrower fails to deliver a timely Interest Election Request with respect to a
Eurocurrency Borrowing prior to the end of the Interest Period applicable thereto, then such Borrowing (i) if such Borrowing is denominated in US Dollars, shall be converted to an ABR Borrowing at the end of such Interest Period and
(ii) if such Borrowing is denominated in an Alternative Currency, shall be continued as a Eurocurrency Borrowing denominated in such currency with an Interest Period of one month’s duration. 

(e) Notwithstanding any contrary provision hereof, if any Event of Default under Section 7.01(h) or 7.01(i) has occurred and is continuing, or
if any other Event of Default has occurred and is continuing and the Administrative Agent, at the request of a Majority in Interest of Lenders of any Class, has notified the applicable Borrower of the election to give effect to this sentence on
account of such other Event of Default, then, in each such case, so long as such Event of Default is continuing (A) in the case of Borrowings denominated in US Dollars, no outstanding Borrowing of such Class may be converted to or
continued as a Eurocurrency Borrowing and unless repaid, each Eurocurrency Borrowing of such Class shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto, and (B) in the case of Borrowings denominated
in Alternative Currencies, unless repaid, each Eurocurrency Borrowing denominated in such currency shall be continued as a Eurocurrency Borrowing with an Interest Period of one month’s duration. 

SECTION 2.09. Termination and Reduction of Commitments; Increase of Revolving Commitments. (a) Unless previously
terminated, the Revolving Commitments shall automatically terminate on the Revolving Maturity Date. Incremental Term Commitments of any Class shall terminate as set forth in the applicable Incremental Facility Agreement. 

(b) Parent may at any time terminate, or from time to time permanently reduce, the Commitments of any Class; provided that
(i) each reduction of the Revolving Commitments of any Class shall be in an amount that is an integral multiple of US$1,000,000 and not less than US$5,000,000 and (ii) Parent shall not terminate or reduce the Revolving Commitments of
any Class if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.11, (A) any Lender’s US Tranche Revolving Exposure would exceed such Lender’s US Tranche Revolving Commitment, (B) the
Aggregate US Tranche Revolving Exposure would exceed the Aggregate US Tranche Revolving Commitment, (C) any Lender’s European Tranche Revolving Exposure would exceed such Lender’s European Tranche Revolving Commitment or (D) the
Aggregate European Tranche Revolving Exposure would exceed the Aggregate European Tranche Revolving Commitment. 
 (c) Parent shall notify
the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the
effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each such notice shall be made by
Electronic Communication to the Applicable Agent of a written notice signed by Parent. Each notice delivered by Parent pursuant to this Section shall be irrevocable; provided that a notice of termination or reduction of the
Commitments of any Class delivered by Parent may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by Parent (by notice to the Administrative Agent on or
prior to the 

  
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specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments of any Class shall be made
ratably among the Lenders of such Class in accordance with their respective Commitments of such Class. 
 (d) Parent may from time to
time request increases in the aggregate amount of Revolving Commitments under either Tranche pursuant to the provisions of this Section 2.09(d). 

(i) Parent may, by written notice to the Administrative Agent (which shall promptly forward such notice to each Revolving
Lender under the applicable Tranche), request that the total Revolving Commitments under either Tranche be increased (each, a “Commitment Increase”) by an amount for each increased Tranche of not less than US$25,000,000;
provided that the aggregate amount of any such Commitment Increase on any date shall not exceed the Incremental Amount as of such date. Each such notice shall set forth the amount of the requested Commitment Increase under each Tranche, and
the date (the “Increase Effective Date”) on which such adjustment is requested to become effective (which shall be a Business Day not less than 10 Business Days (or such shorter period as may be agreed to by the Administrative
Agent) or more than 30 days after the date of such notice). Parent may arrange for one or more Eligible Assignees (each, an “Incremental Revolving Lender” with respect to such Tranche), which may include any Revolving Lender under
either Tranche (each Revolving Lender so agreeing being an “Increasing Lender” with respect to such Tranche, and each Revolving Lender so declining being a “Non-Increasing
Lender” with respect to such Tranche), to extend Revolving Commitments under the applicable Tranche or, in the case of any Revolving Lender, increase its Revolving Commitment under the applicable Tranche in an aggregate amount equal to the
amount of the requested Commitment Increase under such Tranche; provided that (A) any Revolving Lender approached to provide any portion of any Commitment Increase may elect or decline, in its sole discretion, to provide such portion of
such Commitment Increase, (B) each Incremental Revolving Lender shall be subject to the approval of the Administrative Agent, the Swingline Lender and each Issuing Bank (which approval shall not be unreasonably withheld or delayed), and
(C) no Incremental Revolving Lender (including any Increasing Lender) may provide any portion of any Commitment Increase to the extent that, on the applicable Increase Effective Date such Person and its Affiliates, taken in the aggregate, would
hold (x) more than 25% of the sum of the total outstanding Revolving Credit Exposure and total unused Revolving Commitments or (y) more than 25% of the sum of the total outstanding Revolving Credit Exposure, total unused Revolving
Commitments, aggregate outstanding principal amount of Incremental Term Loans and total unused Incremental Term Commitments, in each case, determined on such Increase Effective Date immediately after giving effect to such Commitment Increase (and,
if applicable, any Commitment Decrease made, and any Incremental Term Commitments established or Incremental Term Loans made, on such Increase Effective Date). Any Commitment Increase under any Tranche may be made in an amount less than the
Commitment Increase requested by Parent if Parent is unable to arrange for, or chooses not to arrange for, Incremental Revolving Lenders for the full amount thereof. 

  
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 (ii) On the Increase Effective Date with respect to any Commitment Increase,
(A) the aggregate principal amount of the Revolving Loans outstanding under each Tranche under which such Commitment Increase will become effective (the “Initial Borrowings” under such Tranche) immediately prior to giving
effect to such Commitment Increase on the Increase Effective Date shall be deemed to be repaid, (B) after the effectiveness of such Commitment Increase, the Borrowers shall be deemed to have made new Revolving Borrowings under such Tranche (the
“Subsequent Borrowings” under such Tranche) in an aggregate principal amount and in currency equal to the aggregate principal amount and currency of the Initial Borrowings under such Tranche and of the Types and for the Interest
Periods specified in a Borrowing Request delivered to the Administrative Agent in accordance with Section 2.03, (C) each Revolving Lender under such Tranche shall pay to the Applicable Agent in same day funds in the applicable currency an
amount equal to the difference, if positive, between (1) such Lender’s applicable Tranche Percentage (calculated after giving effect to such Commitment Increase) of the Subsequent Borrowings and (2) such Lender’s applicable
Tranche Percentage (calculated without giving effect to such Commitment Increase) of the Initial Borrowings, (D) after the Applicable Agent receives the funds in the applicable currency specified in clause (C) above, the Applicable Agent
shall pay to each Revolving Lender under such Tranche the portion of such funds that is equal to the difference, if positive, between (1) such Lender’s applicable Tranche Percentage (calculated without giving effect to such Commitment
Increase) of the Initial Borrowings and (2) such Lender’s applicable Tranche Percentage (calculated after giving effect to such Commitment Increase) of the amount of the Subsequent Borrowings, (E) each
Non-Increasing Lender and each Incremental Revolving Lender (including each Increasing Lender) shall be deemed to hold its applicable Tranche Percentage of each Subsequent Borrowing (each calculated after
giving effect to such Commitment Increase) and (F) each applicable Borrower shall pay each Increasing Lender and each Non-Increasing Lender any and all accrued but unpaid interest on the Initial
Borrowings. The deemed payments made pursuant to clause (A) above in respect of each Eurocurrency Loan shall be subject to indemnification by the Borrowers pursuant to the provisions of Section 2.16 if the Increase Effective Date occurs
other than on the last day of the Interest Period relating thereto and breakage costs result. 
 (iii) Commitment Increases
and new Revolving Commitments created pursuant to this Section 2.09(d) shall become effective on the date specified in the original notice delivered by Parent pursuant to the first sentence of paragraph (d)(i) above; provided that,
notwithstanding the foregoing, no increase in the Revolving Commitments under any Tranche (or in any Revolving Commitment of any Revolving Lender) or addition of an Incremental Revolving Lender shall become effective under this Section unless
(A) on the Increase Effective Date for such increase, the conditions set forth in Sections 4.02(a) and 4.02(b) shall be satisfied (without giving effect to the parenthetical in Section 4.02(a), but, in each case, deeming all references therein
to the date, time or effect of a Borrowing (or an issuance, amendment, renewal or extension of a Letter of Credit) to refer to the date, time and effect of such increase), (B) the Administrative Agent shall have received a certificate dated such
Increase Effective Date and executed by a Financial Officer of Parent setting forth, in reasonable detail, the calculation of the Incremental Amount as of such date and confirming the satisfaction of the conditions in clause (A) above, (C) the

  
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Administrative Agent shall have received, to the extent reasonably requested by the Administrative Agent, documents consistent with those delivered pursuant to Sections 4.01(b) and 4.01(f) as to
the corporate power and authority of the applicable Borrowers to borrow hereunder after giving effect to such increase and related matters and (D) the Borrowers, each Incremental Revolving Lender and the Administrative Agent shall have executed
and delivered an Incremental Facility Agreement to evidence the Revolving Commitment of such Incremental Revolving Lender under the applicable Tranche and/or its status as a Lender hereunder (which Incremental Facility Agreement shall in any event
contain a representation by each such Incremental Revolving Lender that the requirements set forth in subclauses (x) and (y) of paragraph (d)(i)(C) above have been satisfied with respect to it). 

SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) Each Borrower hereby unconditionally promises to pay (i) to
the Applicable Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan of such Lender outstanding to such Borrower on the Revolving Maturity Date, (ii) to the Administrative Agent for the account
of each Incremental Term Lender the then unpaid principal amount of each Incremental Term Loan of such Incremental Term Lender as provided in the applicable Incremental Facility Agreement and (iii) to the Swingline Lender the then unpaid
principal amount of each Swingline Loan outstanding to such Borrower on the earlier of the Revolving Maturity Date and the fifth Business Day after such Swingline Loan is made; provided that on each date that a Revolving Borrowing denominated
in US Dollars is made, each Borrower shall repay all Swingline Loans then outstanding to such Borrower, if any, and may use all or a portion of the proceeds of such Revolving Borrowing to fund such repayment. The Borrowers will repay the principal
amount of each Loan and the accrued interest thereon in the currency in which such Loan is denominated. 
 (b) Each Lender shall maintain in
accordance with its usual practice an account or accounts evidencing the indebtedness of each Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from
time to time hereunder. 
 (c) The Agents shall maintain accounts in which they shall record (i) the amount of each Loan made
hereunder, the Class and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from each Borrower to each Lender hereunder and (iii) the
amount of any sum received by the Agents hereunder for the account of the Lenders and each Lender’s share thereof. 
 (d) The entries
made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or any Agent
to maintain such accounts or any error therein shall not in any manner affect the obligation of the applicable Borrower to repay the Loans in accordance with the terms of this Agreement. 

(e) Any Lender may request that Loans of any Class made by it (including the interests and obligations of such Lender after giving effect
to the CAM Exchange) be evidenced by a promissory note. In such event, each applicable Borrower shall prepare, execute and deliver 

  
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to such Lender a promissory note payable to such Lender and its registered assigns and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and
interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to such payee and its registered assigns. 

SECTION 2.11. Prepayment of Loans. (a) The Borrowers shall have the right at any time and from time to time to prepay any
Borrowing in whole or in part, without any premium or penalty (but subject to Section 2.16) subject to prior notice in accordance with paragraph (c) of this Section. 

(b) In the event and on each occasion that the sum of the Revolving Credit Exposures under any Tranche exceeds the sum of the Revolving
Commitments under such Tranche, the Borrowers shall not later than the next Business Day prepay Revolving Borrowings under the applicable Tranche in an aggregate amount equal to such excess, and in the event that after such prepayment of Revolving
Borrowings any such excess shall remain, the Borrowers shall deposit with the Administrative Agent cash in US Dollars in an amount equal to such excess as collateral for the reimbursement obligations of the Borrowers in respect of Letters of Credit
under such Tranche; provided that if such excess results from a change in currency exchange rates, such prepayment and deposit shall be required to be made not later than the fifth Business Day after the day on which the Administrative Agent
shall have given Parent notice of such excess. Any cash so deposited (and any cash previously deposited pursuant to this paragraph) with the Administrative Agent shall be held in an account over which the Administrative Agent shall have sole
dominion and control, including exclusive rights of withdrawal. Other than any interest earned on the investment of such deposits, which investment shall be in Permitted Investments and shall be made in the discretion of the Administrative Agent and
at the Borrowers’ risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse each
Issuing Bank for the portion of LC Disbursements for which it has not been reimbursed that is allocable to such Tranche and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrowers for the
LC Exposure allocable to such Tranche at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of the Majority in Interest of Lenders under such Tranche), be applied to satisfy other obligations of the Borrowers
under this Agreement. If the Borrowers have provided cash collateral pursuant to this paragraph to secure the reimbursement obligations of the Borrowers in respect of Letters of Credit, then, so long as no Event of Default shall exist, such cash
collateral shall be released to the Borrowers if so requested by Parent at any time if and to the extent that, after giving effect to such release, the aggregate amount of the Revolving Credit Exposures under the applicable Tranche would not exceed
the aggregate amount of the Revolving Commitments under such Tranche. Prepayments made under this paragraph shall be without any premium or penalty (but shall be subject to Section 2.16). 

(c) The applicable Borrower, or Parent on its behalf, shall notify the Applicable Agent (and, in the case of prepayment of a Swingline Loan,
the Swingline Lender) by telephone (confirmed by email or facsimile) of any prepayment under this Section (i) in the
case of prepayment of a Eurocurrency Borrowing, not later than 11:00 a.m., Local Time, four Business 

  
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Days before the date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment or
(iii) in the case of prepayment of a Swingline Loan, not later than 12:00 noon, New York City time, on the date of prepayment; provided that in the case of any prepayment required to be made within one Business Day under paragraph
(b) of this Section the applicable Borrower will give such notice as soon as practicable. Each such notice shall be made by Electronic Communication to the Applicable Agent of a
written notice signed by the applicable Borrower, or Parent on its behalf (or, in the case of any Borrowing denominated in US Dollars, by telephone notification, confirmed promptly by Electronic Communication to the Administrative Agent of a written
notice signed by the applicable Borrower, or Parent on its behalf). Each such telephonic and written notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be
prepaid; provided that, if a notice of optional prepayment is given in connection with a conditional notice of termination or reduction of the Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such
notice of termination is revoked in accordance with Section 2.09.delivered by or on behalf of any Borrower may state that such
notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the applicable Borrower, or Parent on its behalf (by notice to the Applicable Agent prior to the required time of the
specified prepayment) if such condition is not satisfied. Promptly following receipt of any such notice relating to any Borrowing (other than a notice relating solely to Swingline Loans), the Administrative Agent shall advise the
Lenders of the applicable Class of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Class, Type and in the same currency as
provided in Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.13. 

SECTION 2.12. Fees. (a) The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender a
commitment fee, which shall accrue at the Applicable Rate on the daily unused amount of the Revolving Commitments of such Lender during the period from and including the First
Amendment Effective Date to but excluding the date on which the last of such Revolving Commitments terminates. Accrued commitment fees shall be payable in arrears on the first Business Day
following the last day of March, June, September and December of each year and on the date on which the Revolving Commitments of any Class terminate, commencing on the first such date to occur after the date hereofFirst Amendment Effective Date. All
commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing commitment fees, a Revolving Commitment
of a Lender under any Tranche shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender under such Tranche (and the Swingline Exposure of such Lender shall be disregarded for such purpose prior to the
acquisition by such Lender of a participation therein pursuant to Section 2.05(c)). 
 (b) The Borrowers agree to pay (i) to the
Administrative Agent for the account of each Revolving Lender a participation fee with respect to its participations in Letters of Credit, 

  
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which shall accrue at the Applicable Rate used to determine the interest rate applicable to Eurocurrency Revolving Loans on the average daily amount of such Lender’s LC Exposure (excluding
any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the First Amendment Effective Date to but excluding the later of
the date on which such Lender’s Revolving Commitments terminate and the date on which such Lender ceases to have any LC Exposure, and (ii) to each Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately
agreed upon between the Borrowers and such Issuing Bank on the daily LC Exposure attributable to Letters of Credit issued by such Issuing Bank (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and
including the First Amendment Effective Date to but excluding the later of the date the LC Commitment of such Issuing Bank is reduced to zero and the date on which there
ceases to be any LC Exposure attributable to Letters of Credit issued by such Issuing Bank, as well as such Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of
drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the third Business Day following such last day, commencing on the first such
date to occur after the First Amendment Effective Date; provided that all such fees shall be payable on the date on which the Revolving Commitments terminate and
any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation fees
and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

(c) The Borrowers agree to pay on the Effective Date to each Revolving Lender, as fee compensation for such Lender’s Revolving Commitments, an upfront fee at the rate heretofore
communicated to the Revolving Lenders by the Borrowers and the Administrative Agent on the aggregate amount of such Lender’s Revolving Commitments as of the Effective Date. 

(c) 
(d) The Borrowers agree to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the
times separately agreed upon between the Borrowers (or any of them) and the Administrative Agent. 
 (d) (e) All fees payable hereunder shall be paid on the dates due, in immediately available funds in US Dollars, to the Administrative Agent (or to the Issuing Banks, in the case of fees payable to them) for distribution,
in the case of commitment fees, and
participation fees and upfront fees, to the Revolving Lenders entitled thereto. Fees paid shall not be refundable
under any circumstances. 
 SECTION 2.13. Interest. (a) The Loans comprising each ABR Borrowing (including each
Swingline Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate. 
 (b) The Loans comprising each Eurocurrency
Borrowing shall bear interest (i) in the case of any such Borrowing denominated in US Dollars or Sterling, at the
Adjusted LIBO Rate and (ii) in the case of any such Borrowing denominated in Sterling, at the
LIBO Rate and (iii) in the case of any such Borrowing denominated in Euro, at the EURIBO Rate, in each case for the Interest Period in effect for such Borrowing, plus, in each case, the Applicable Rate. 

  
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 (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or
other amount payable by any Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to (i) in the
case of overdue principal of any Loan, 2% per annum plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section, (ii) in the case of any overdue interest on any Loan denominated in Sterling or Euro,
2% per annum plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (iii) in the case of any overdue interest on any Loan denominated in US Dollars or any other overdue amount, 2% per annum
plus the rate applicable to ABR Revolving Loans as provided in paragraph (a) of this Section. 
 (d) Accrued interest on each Loan
shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans of any Class, upon termination of the Revolving Commitments of such Class; provided that (i) interest accrued pursuant to
paragraph (c) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Revolving Availability Period), accrued
interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurocurrency Loan prior to the end of the current Interest Period therefor, accrued
interest on such Loan shall be payable on the effective date of such conversion. All interest shall be payable in the currency in which the applicable Loan is denominated. 

(e) All interest hereunder shall be computed on the basis of a year of 360 days, except that (i) interest computed by reference to the
Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate and (ii) interest on Eurocurrency Loans denominated in Sterling shall be computed on the basis of a year of 365 days (or, in the case of clause (i) above,
366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate, LIBO Rate or EURIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent demonstrable error. 

SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurocurrency Borrowing of any
Class: 
 (a) the Administrative Agent determines (which determination shall be conclusive absent demonstrable error) that
adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate, the LIBO Rate or
the EURIBO Rate for such Interest Period; or 
 (b) the Administrative Agent is advised by a Majority in
Interest of the Lenders of such Class that the Adjusted LIBO Rate, the LIBO Rate or
the EURIBO Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period; 

  
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 then the Administrative Agent shall give notice thereof to Parent and the Lenders of such Class by telephone
or Electronic Communication as promptly as practicable thereafter and, until the Administrative Agent notifies Parent and the Lenders of such Class that the circumstances giving rise to such notice no longer exist, (i) any Interest
Election Request that requests the conversion of any Borrowing of such Class to, or continuation of any Borrowing of such Class as, a Eurocurrency Borrowing shall be ineffective, and, unless repaid, such Borrowing shall, if denominated in
US Dollars, be made as an ABR Borrowing or, if denominated in an Alternative Currency, bear interest at such rate as the Administrative Agent shall determine adequately and fairly reflects the cost to the affected Lenders (or Lender) of making or
maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period plus the Applicable Rate, and (ii) if any Borrowing Request requests a Eurocurrency Revolving Borrowing, such Borrowing shall, if denominated in US
Dollars, be made as an ABR Borrowing or, if denominated in an Alternative Currency, bear interest at such rate as the Administrative Agent shall determine adequately and fairly reflects the cost to the affected Lenders (or Lender) of making or
maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period plus the Applicable Rate; provided that if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of
Borrowings shall be permitted. 
 SECTION 2.15. Increased Costs. (a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or any Issuing Bank; 

(ii) impose on any Lender or any Issuing Bank or the London interbank market or European interbank market any other condition,
cost or expense (other than Taxes) affecting this Agreement or Eurocurrency Loans made by such Lender or any Letter of Credit or participation therein; or 

(iii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Excluded Taxes and (C) Other
Taxes) on its loans, loan principal, letters of credit, commitments or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making, converting to, continuing or maintaining any Loan (or of
maintaining its obligation to make any Loan), to increase the cost to such Lender or such Issuing Bank of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of
Credit), or to reduce the amount of any sum received or receivable by such Lender, such Issuing Bank or other Recipient hereunder (whether of principal, interest or otherwise), then the Borrowers will pay to such Lender, such Issuing Bank or such
other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender, such Issuing Bank or such other Recipient, as the case may be, for such additional costs or expenses incurred or reduction suffered. 

  
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 (b) If any Lender or any Issuing Bank determines that any Change in Law affecting such Lender or
such Issuing Bank or any lending office of such Lender or such Lender’s or such Issuing Bank’s holding company, if any, regarding capital or liquidity requirements has had or would have the effect of reducing the rate of return on such
Lender’s or such Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Commitments of or the Loans made by, or participations in Letters
of Credit or Swingline Loans held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company could have
achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding company with respect to capital adequacy and
liquidity), then from time to time the Borrowers will pay to such Lender or such Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing
Bank’s holding company for any such reduction suffered. 
 (c) If the cost (including Taxes other than (i) Indemnified Taxes,
(ii) Excluded Taxes and (iii) Other Taxes) to any Lender of making, converting to, continuing or maintaining any Loan to (or of maintaining its obligation to make any Loan), or the cost to any Lender or any Issuing Bank of participating
in, issuing or maintaining any Letter of Credit issued for the account of any Borrowing Subsidiary (or of maintaining its obligation to participate in or issue any such Letter of Credit) is increased (or the amount of any sum received or receivable
by any Lender or any Issuing Bank (or its applicable lending office) is reduced) by reason of the fact that such Borrowing Subsidiary is incorporated in, has its principal place of business in, or borrows from, a jurisdiction outside the United
States of America, such Borrowing Subsidiary shall indemnify such Lender or such Issuing Bank from time to time for such increased cost incurred or reduction suffered. 

(d) Without duplication of any reserve requirement reflected in the Adjusted LIBO Rate, Parent shall pay to each Lender (i) so long as
such Lender shall be required by a central banking or financial regulatory authority with regulatory authority over such Lender to maintain reserves with respect to liabilities or assets consisting of or including funds or deposits obtained in the
London or the European interbank market, additional interest on the unpaid principal amount of each Eurocurrency Loan equal to the actual costs of such reserves allocable to such Loan by such Lender (as determined by such Lender in good faith, which
determination shall be conclusive absent demonstrable error), and (ii) so long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority
imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual
costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent demonstrable error), which in each case shall be due and payable on each date on which interest is
payable on such Loan; provided that the
CompanyParent shall have received the certificate referred to in paragraph (e) of this Section with respect
to such additional interest or costs from such Lender at least 10 Business Days prior to such date (and, in the event such certificate shall have been delivered after such time, then such additional interest or costs shall be due and payable as set
forth in paragraph (e) of this Section). 

  
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 (e) A certificate of a Lender or an Issuing Bank setting forth the amount or amounts necessary to
compensate such Lender or such Issuing Bank or its holding company, as the case may be, as specified in paragraph (a), (b), (c) or (d) of this Section setting forth in reasonable detail the manner in which such amount or amounts have been
determined, delivered to Parent shall be conclusive absent demonstrable error. The Borrowers shall pay such Lender or such Issuing Bank, as the case may be, the amount shown as due on any such certificate within 10 Business Days after receipt
thereof. 
 (f) Failure or delay on the part of any Lender or any Issuing Bank to demand compensation pursuant to this Section shall not
constitute a waiver of such Lender’s or such Issuing Bank’s right to demand such compensation; provided that the Borrowers shall not be required to compensate a Lender or an Issuing Bank pursuant to this Section for any increased or
other costs or expenses incurred or reductions incurred more than 180 days prior to the date that such Lender or such Issuing Bank, as the case may be, notifies Parent of the Change in Law or other circumstance giving rise to such increased or other
costs or expenses or reductions and of such Lender’s or such Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law or other circumstance giving rise to such increased costs or
expenses or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. 

(g) If a Lender or an Issuing Bank determines, in its sole discretion, that it has received a refund of any amount as to which it has been
indemnified by any Borrower pursuant to this Section, it shall pay over such refund to such Borrower (but only to the extent of indemnity payments made by such Borrower under this Section with respect to the events giving rise to such refund), net
of all out-of-pocket expenses (including Taxes) of such Lender or such Issuing Bank and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund); provided that each Borrower, upon the request of such Lender or such Issuing Bank, agrees to repay the amount paid over to such Borrower (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) in the event such Lender or such Issuing Bank is required to repay such refund to such Governmental Authority. This Section shall not be construed to require any Lender or any Issuing Bank to make available its
accounting records (or any other information which it deems confidential) to any Borrower or any other Person. 
 SECTION 2.16. Break
Funding Payments. In the event of (a) the payment of any principal of any Eurocurrency Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any
Eurocurrency Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurocurrency Loan on the date specified in any notice delivered pursuant hereto (regardless of
whether such notice may be revoked hereunder and is revoked in accordance therewith) or (d) the assignment of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrowers
pursuant to Section 2.19 or the CAM Exchange, then, in any such event, the Borrowers shall compensate each Lender for the loss, cost and expense attributable to such event. In the case of a 

  
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Eurocurrency Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest that would
have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate, the LIBO Rate or the EURIBO Rate, as the case may be, that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period
therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan) over (ii) the amount of interest that would accrue on such principal amount for such period at the
interest rate which such Lender would bid were it to bid, at the commencement of such period, for deposits in the applicable currency of a comparable amount and period from other banks in the
Eurocurrency marketRelevant Interbank Market.
The Borrowers shall also compensate each Lender for the loss, cost and expense attributable to any failure by a Borrower to deliver a timely Interest Election Request with respect to a Eurocurrency Borrowing denominated in an Alternative Currency. A
certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section delivered to Parent shall be conclusive absent demonstrable error. The Borrowers shall pay such Lender the amount shown as
due on any such certificate within 20 days after receipt thereof. 
 SECTION 2.17. Taxes. (a) Any and all payments
by or on account of any obligation of the Borrowers or any other Loan Party hereunder or under any other Loan Document shall be made free and clear of and without deduction or withholding for any Taxes, except as required by applicable law. If any
applicable law (as determined in the good faith discretion of an applicable withholding agent) requires the deduction or withholding of any Tax from any such payments by a withholding agent, then the applicable withholding agent shall be entitled to
make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax or Other Tax (other than Excluded Taxes),
then the sum payable by the Borrowers and the other Loan Parties shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this
Section 2.17(a)) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) In addition, the Borrowers and the other Loan Parties shall timely pay to the relevant Governmental Authority in accordance with
applicable law, or at the option of any Agent timely reimburse it for, Other Taxes. 
 (c) The Borrowers and the other Loan Parties shall
indemnify each Recipient within 20 days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes payable or paid by such Recipient, on or with respect to any payment by or on account of any obligation of any
Borrower or any other Loan Party hereunder or under any other Loan Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses
arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability
delivered to Parent by a Lender or an Issuing Bank, or by any Agent on its own behalf or on behalf of a Lender or an Issuing Bank, shall be conclusive absent demonstrable error. 

  
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 (d) Each Lender severally agrees to indemnify each Agent, within 20 days after written demand
therefor, for the full amount of any Taxes (but, in the case of Indemnified Taxes or Other Taxes, only to the extent that the Borrowers and the other Loan Parties have not already indemnified such Agent for such Indemnified Taxes or Other Taxes, and
without limiting the obligation of the Borrowers and the other Loan Parties to do so) attributable to such Lender that are paid or payable by such Agent in connection with any Loan Document and any penalties, interest and reasonable expenses arising
therefrom or with respect thereto (other than any amounts for which such Agent has been reimbursed by the Borrowers or the other Loan Parties), whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. In addition, each Lender shall severally indemnify the applicable Borrower for any Taxes paid or payable by such Borrower (and not deducted or withheld from any payment otherwise due hereunder to such Lender) as a result of the failure of
such Lender to deliver, or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by such Lender to the applicable Borrower pursuant to Section 2.17(f) or 2.17(g). A certificate as to the amount of
such payment or liability delivered to the applicable Lender by an Agent or the applicable Borrower shall be conclusive absent demonstrable error. Nothing herein shall prevent any Lender from contesting the applicability of any Taxes that it
believes to have been incorrectly or illegally imposed or asserted by any Governmental Authority; provided that no such contest shall suspend the obligation of any Lender to pay amounts due to the Agents or the applicable Borrower as provided
in the first and second sentences of this paragraph. 
 (e) As soon as practicable after any payment of Taxes by any Borrower or any other
Loan Party to a Governmental Authority pursuant to this Section 2.17, such Borrower or any other Loan Party shall deliver to the Applicable Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing
such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Applicable Agent. 

(f) (i) Any Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which an
applicable Borrower or any other applicable Loan Party is located, or under any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver to such Borrower or such other Loan Party and the Applicable
Agent, at the time or times prescribed by applicable law or reasonably requested by such Borrower, such other Loan Party or the Applicable Agent, such properly completed and executed documentation prescribed by applicable law or reasonably requested
by such Borrower, such other Loan Party or the Applicable Agent as will permit such payments to be made without withholding or at a reduced rate. In addition, any Lender, if reasonably requested by an applicable Borrower, any other applicable Loan
Party or any Agent, shall deliver such other documentation prescribed by law or reasonably requested by such Borrower, such other Loan Party or such Agent as will enable such Borrower, such other Loan Party or such Agent to determine whether or not
such Lender is subject to any withholding (including backup withholding) by such Borrower, such other Loan Party or such Agent or any information reporting requirements by such Borrower, such other Loan Party or such Agent. In the case of an

  
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applicable Borrower or any other applicable Loan Party that, in each case, is a US Person or resident in the United Kingdom for United Kingdom tax purposes, (A) upon the reasonable request
of such Borrower or such other Loan Party, or of any Agent, any Lender shall update any form or certification previously delivered pursuant to this Section 2.17(f) and (B) if any form or certification previously delivered pursuant to this
Section 2.17(f) expires or becomes obsolete or inaccurate in any respect with respect to a Lender, such Lender shall promptly (and in any event within 10 days after such expiration, obsolescence or inaccuracy) notify such Borrower or such other Loan
Party and such Agent in writing of such expiration, obsolescence or inaccuracy and update the form or certification if it is legally eligible to do so. Notwithstanding the foregoing, in the case of an applicable Borrower or any other applicable Loan
Party that, in each case, is not a US Person or resident in the United Kingdom for United Kingdom tax purposes, the applicable Lender will not be subject to the requirements of this paragraph (f)(i) unless it has received written notice from such
Borrower or such other Loan Party advising it of the availability of an exemption or reduction of withholding Tax under the laws of the jurisdiction in which such Borrower or such other Loan Party is located and containing all applicable
documentation (together, if requested by such Lender, with a certified English translation thereof) required to be completed by such Lender in order to receive any such exemption or reduction, and such Lender is reasonably satisfied that it is
legally able to provide such documentation to such Borrower or such other Loan Party. Notwithstanding anything to the contrary in the first two sentences of this paragraph (f)(i), the completion, execution and submission of such documentation (other
than such documentation set forth in Section 2.17(f)(ii)(A)-(E) and 2.17(f)(iii)) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost
or expense or would materially prejudice the legal or commercial position of such Lender. 
 (ii) In furtherance of, and
subject to the limitation set forth in, paragraph (f)(i) above, if an applicable Borrower or other applicable Loan Party is a US Person, any Lender (or if such Lender is disregarded as an entity separate from its owner for US Federal income Tax
purposes, its sole owner) with respect to such Borrower or other Loan Party shall, if it is legally eligible to do so, deliver to such Borrower (or such other Loan Party) and the Administrative Agent (in such number of copies reasonably requested by
such Borrower (or such other Loan Party) and the Administrative Agent) on or prior to the date on which such Lender becomes a party hereto (and from time to time thereafter upon the reasonable request of such Borrower (or such other Loan Party) or
the Administrative Agent), duly completed and executed copies of whichever of the following is applicable: 
 (A) IRS Form W-9 certifying exemption from US Federal backup withholding Tax; 
 (B) (1) with respect to
payments of interest under any Loan Document, IRS Form W-8BEN or W-8BEN-E establishing an exemption from, or reduction of, US
Federal withholding Tax pursuant to the “interest” article of such tax treaty and (2) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or W-8BEN-E establishing an exemption from, or reduction of, US Federal withholding Tax pursuant to the “business profits” or “other income” article of such
tax treaty; 

  
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 (C) IRS Form W-8ECI; 

(D) both (1) IRS Form W-8BEN or W-8BEN-E and (2) a certificate substantially in the form of Exhibit H-1, H-2, H-3
or H-4 (as applicable) to the effect that such Lender (or if such Lender is disregarded as an entity separate from its owner for US Federal income Tax purposes, its sole owner) is not (w) a
“bank” within the meaning of Section 881(c)(3)(A) of the Code, (x) a “10 percent shareholder” of the applicable Borrower within the meaning of Section 881(c)(3)(B) of the Code (y) a “controlled foreign
corporation” described in Section 881(c)(3)(C) of the Code or (z) conducting a trade or business in the United States of America with which the relevant interest payments are effectively connected; 

(E) (1) an IRS Form W-8IMY on behalf of itself and (2) the relevant forms
prescribed in clauses (A), (B), (C), (D) and (F) of this paragraph (f)(ii) that would be required of each beneficial owner or partner if such beneficial owner or partner were a Lender; provided that if the Lender is a partnership and one
or more of its partners are claiming the exemption for portfolio interest under Section 881(c) of the Code, such Lender may provide a certificate described in Section 2.17(f)(ii)(D) on behalf of such partners; or 

(F) any other form prescribed by law as a basis for claiming exemption from, or a reduction of, US Federal withholding Tax
together with such supplementary documentation necessary to enable such Borrower (or such other Loan Party) or the Administrative Agent to determine the amount of Tax (if any) required by law to be withheld. 

(iii) If a payment made to a Lender under any Loan Document would be subject to US Federal withholding Tax imposed by FATCA if
such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to an applicable Borrower or an applicable other
Loan Party and the Administrative Agent, at the time or times prescribed by law and at such time or times reasonably requested by such Borrower or such other Loan Party or the Administrative Agent, such documentation prescribed by applicable law
(including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by such Borrower or such other Loan Party or the Administrative Agent as may be necessary for such Borrower or such other Loan
Party or the Applicable Agent to comply with its obligations under FATCA, to determine that such Lender has or has not complied with such Lender’s obligations under FATCA and, as necessary, to determine the amount to deduct and withhold from
such payment. Solely for purposes of this Section 2.17(f)(iii), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

(g) (i) Subject to paragraph (g)(ii) below, each Lender and each UK Loan Party that makes a payment to such Lender shall cooperate in
completing any procedural formalities necessary for such UK Loan Party to obtain authorization to make such payment without withholding or deduction for Taxes imposed under the laws of the United Kingdom. 

 

  
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 (ii) (A) In the event any UK Loan Party shall become a party hereto, a
Lender that is a party hereto as of the date such UK Loan Party becomes a party hereto and that (x) holds a passport under the HMRC DT Treaty Passport scheme and (y) wishes such scheme to apply to this Agreement, shall provide its scheme
reference number and its jurisdiction of tax residence to such UK Loan Party and the London Agent promptly thereafter; and 

(B) in the event any UK Loan Party shall become a party hereto, a Lender that becomes a Lender hereunder after the date such UK
Loan Party becomes a party hereto and that (x) holds a passport under the HMRC DT Treaty Passport scheme and (y) wishes such scheme to apply to this Agreement, shall provide its scheme reference number and its jurisdiction of tax residence
to such UK Loan Party and the London Agent promptly thereafter; and 
 (C) upon satisfying the requirements of either clause
(A) or (B) above, such Lender shall have satisfied its obligation under paragraph (g)(i) above. 
 (iii) If a Lender has
confirmed its scheme reference number and its jurisdiction of tax residence in accordance with paragraph (g)(ii) above, the UK Loan Parties shall make a Borrower DTTP filing with respect to such Lender, and shall promptly provide such Lender with a
copy of such filing; provided that if: 
 (A) any UK Loan Party making a payment to such Lender has not made a
Borrower DTTP Filing in respect of such Lender; or 
 (B) Any UK Loan Party making a payment to such Lender has made a
Borrower DTTP Filing in respect of such Lender but: 
 (1) such Borrower DTTP Filing has been rejected by HMRC; or 

(2) HMRC has not given such UK Loan Party authority to make payments to such Lender without a deduction for tax within 60 days
of the date of such Borrower DTTP Filing; 
 and in each case, such UK Loan Party has notified that Lender in writing of the occurrence of
any event specified in clause (1) or (2) above, then such Lender and such UK Loan Party shall cooperate in completing any additional procedural formalities necessary for such UK Loan Party to obtain authorization to make that payment without
withholding or deduction for Taxes imposed under the laws of the United Kingdom. 
 (iv) If a Lender has not confirmed its
scheme reference number and jurisdiction of tax residence in accordance with paragraph (g)(ii) above, no UK Loan Party shall make a Borrower DTTP Filing or file any other form relating to the HMRC DT Treaty Passport scheme in respect of that
Lender’s Commitment(s) or its participation in any Loan unless the Lender otherwise agrees. 

  
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 (v) Each UK Loan Party shall, promptly on making a Borrower DTTP Filing, deliver
a copy of such Borrower DTTP Filing to the London Agent for delivery to the relevant Lender. 
 (vi) Each Lender shall notify
Parent and the London Agent if it determines in its sole discretion that it is ceases to be entitled to claim the benefits of an income tax treaty to which the United Kingdom is a party with respect to payments made by any UK Loan Party hereunder.

 (h) If any Recipient determines, in its sole discretion exercised in good faith, that it has received a refund or credit of any Taxes as
to which it has been indemnified by any Loan Party or with respect to which any Loan Party has paid additional amounts pursuant to this Section 2.17, it shall pay over such refund or credit to such Loan Party (but only to the extent of
indemnity payments made, or additional amounts paid, by such Loan Party under this Section 2.17 with respect to the Taxes giving rise to such refund or credit), net of all reasonable out-of-pocket expenses (including Taxes) of such Recipient and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that such
Loan Party, upon the request of such Recipient, agrees to repay the amount paid over to such Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to such Recipient in the event such Recipient is
required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (h), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph
(h) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to
such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This Section shall not be construed to require any Recipient to make available its
Tax returns (or any other information relating to its Taxes which it deems confidential) to any Loan Party or any other Person. 
 (i)
Issuing Banks. For purposes of Sections 2.17(d), 2.17(f) and 2.17(g), the term “Lender” shall be deemed to include each Issuing Bank. 

SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. (a) The
Borrowers shall make each payment required to be made by them hereunder or under any other Loan Document (whether of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 2.15, 2.16 or 2.17, or
otherwise) prior to the time expressly required hereunder or under such other Loan Document for such payment (or, if no such time is expressly required, prior to 12:00 noon, Local Time), on the date when due, in immediately available funds, without any rights to set-off,
recoupment or counterclaim. Any amounts received after such time on any date may, in the discretion of the Applicable Agent, be deemed to have been received on the next succeeding Business Day
for purposes of calculating interest thereon. All such payments shall be made to the Applicable Agent to the applicable account specified by it from time to time to Parent for such purpose, except payments to be made

  
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directly to an Issuing Bank or the Swingline Lender as expressly provided herein shall be so made and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall be made directly to
the Persons entitled thereto and payments pursuant to other Loan Documents shall be made to the Persons specified therein. The Applicable Agent shall distribute any such payments received by it for the account of any other Person to the appropriate
recipient promptly following receipt thereof. If any payment under any Loan Document shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment
accruing interest, interest thereon shall be payable for the period of such extension. Except as otherwise provided herein, (i) all payments of principal, interest or reimbursement obligations in respect of any Loan or Letter of Credit shall be
made in the currency of such Loan or Letter of Credit and (ii) all other payments under each Loan Document (including all fees) shall be made in US Dollars. Any payment required to be made by any Agent hereunder shall be deemed to have been
made by the time required if such Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing or settlement system used by such Agent to make
such payment. 
 (b) If at any time insufficient funds are received by and available to the Applicable Agent to pay fully all amounts of
principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal
and unreimbursed LC Disbursements then due to such parties. 
 (c) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans or participations in LC Disbursements or Swingline Loans resulting in such Lender receiving payment
of a greater proportion of the aggregate amount of its Loans and participations in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion
shall purchase (for cash at face value) participations in the Loans and participations in LC Disbursements and Swingline Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably
in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and participations in LC Disbursements and Swingline Loans; provided that (i) if any such participations are purchased and all or any
portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed
to apply to any payment made by any Borrower pursuant to and in accordance with the express terms of this Agreement (for the avoidance of doubt, as in effect from time to time) or any payment obtained by a Lender as consideration for the assignment
of or sale of a participation in any of its Loans or participations in LC Disbursements or Swingline Loans to any assignee or Participant, other than to Parent or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph
shall apply). It is acknowledged and agreed that the foregoing provisions of this paragraph reflect an agreement entered into solely among the Lenders 

  
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(and not any Loan Party) and no consent of any Loan Party shall be required with respect to any action taken by the Lenders pursuant to such provisions. Each Borrower agrees, to the extent it may
effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against each Borrower rights of set-off and counterclaim with respect to
such participation as fully as if such Lender were a direct creditor of such Borrower, as the case may be, in the amount of such participation. 

(d) Unless the Applicable Agent shall have received notice from any Borrower prior to the date on which any payment is due to the Applicable
Agent for the account of the Lenders or an Issuing Bank hereunder that such Borrower will not make such payment, the Applicable Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon
such assumption, distribute to the Lenders or such Issuing Bank, as the case may be, the amount due. In such event, if such Borrower has not in fact made such payment, then each of the Lenders or such Issuing Bank, as the case may be, severally
agrees to repay to the Applicable Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of
payment to the Applicable Agent, at (i) if such amount is denominated in US Dollars, the greater of the New York Fed Bank Rate and a rate determined by the Applicable Agent in accordance with banking industry rules on interbank compensation,
and (ii) if such amount is denominated in an Alternative Currency, a rate determined by the Applicable Agent in accordance with banking industry rules on interbank compensation. 

(e) If any Lender shall fail to make any payment required to be made by it hereunder to or for the account of any Agent, any Issuing Bank or
the Swingline Lender, then each Agent may, in its discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter received by such Agent for the account of such Lender to satisfy such Lender’s obligations in respect
of such payment until all such unsatisfied obligations have been discharged or (ii) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender pursuant to this
Agreement (including pursuant to Sections 2.05(c), 2.06(d), 2.06(e), 2.07(b), 2.18(d) and 9.03(c), in each case in such order as shall be determined by such Agent in its discretion. 

(f) In the event that any financial statements delivered under Section 5.01(a) or 5.01(b), or any certificate delivered under Section 5.01(c),
shall prove to have been materially inaccurate, and such inaccuracy shall have resulted in the payment of any interest or fees at rates lower than those that were in fact applicable for any period (based on the actual Leverage Ratio), then, if such
inaccuracy is discovered prior to the termination of the Commitments and the repayment in full of the principal of all Loans and the reduction of the LC Exposure to zero, the Borrowers shall pay to the Administrative Agent, for distribution to each
Lender, the accrued interest or fees that should have been paid to such Lender but were not paid as a result of such misstatement. 

SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender requests compensation under Section 2.15, or
if any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different

  
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lending office for funding or booking its Loans hereunder or to assign and delegate its rights and obligations hereunder to another of its offices, branches or Affiliates, if, in the reasonable
judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.15 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost
or expense and would not otherwise be disadvantageous to such Lender. The Borrowers hereby agree to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment and delegation. 

(b) If (i) any Lender requests compensation under Section 2.15, (ii) any Borrower is required to pay any additional amount to any
Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, (iii) any Lender becomes a Defaulting Lender or (iv) any Lender has failed to consent to a proposed waiver, amendment or other modification that
under Section 9.02 requires the consent of all the Lenders (or all the affected Lenders or all the Lenders of an affected Class) and with respect to which the Required Lenders (or, in circumstances where Section 9.02 requires the consent
of all of the Lenders of an affected Class, a Majority in Interest of the Lenders of the affected Class) shall have granted their consent, then Parent may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent,
require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its interests, rights (other than any right to payment pursuant to Section 2.15 or 2.17) and
obligations under this Agreement and the other Loan Documents (or, in the case of any such assignment and delegation resulting from a failure to provide a consent as a Lender of an affected Class, all its interests, rights (other than any right, to
payment pursuant to Section 2.15 or 2.17) and obligations under this Agreement and the other Loan Documents as a Lender of such affected Class) to an Eligible Assignee that shall assume such obligations (which may be another Lender, if a Lender
accepts such assignment); provided that (A) Parent shall have received the prior written consent of the Administrative Agent (and, in the case of any assignment that would require consent of any Issuing Bank or the Swingline Lender under
Section 9.04, the consent of such Issuing Bank or the Swingline Lender, as the case may be), which consent shall not unreasonably be withheld, (B) such Lender shall have received payment of an amount equal to the outstanding principal of
its Loans and, if applicable, participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder (if applicable, in each case only to the extent such amounts relate to its
interest as a Lender of a particular Class), from the assignee (to the extent of such outstanding principal and accrued interest and fees) or a Borrower (in the case of all other amounts), (C) in the case of any such assignment resulting from a
claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments, (D) in the case of any such assignment resulting from the
failure to provide a consent, the assignee shall have given such consent and, as a result of such assignment and any contemporaneous assignments and consents, the applicable waiver, amendment or other modification can be effected and (E) such
assignment does not conflict with applicable law. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling Parent to require such
assignment and delegation cease to apply. Each party hereto agrees that an assignment required pursuant to this paragraph may be effected pursuant to an Assignment and Assumption executed by Parent, the Administrative Agent and the assignee and that
the Lender required to make such assignment need not be a party thereto. 

  
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 SECTION 2.20. Defaulting Lenders. (a) Notwithstanding any provision of this Agreement
to the contrary, if any Revolving Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as any such Revolving Lender is a Defaulting Lender: 

(i) no commitment fee shall accrue on the unused amount of any Revolving Commitment of such Defaulting Lender pursuant to
Section 2.12(a); 
 (ii) the Revolving Commitments and Revolving Credit Exposures of each Defaulting Lender shall be
disregarded in determining whether the Required Lenders or any other requisite Lenders have taken any action hereunder or under any other Loan Document (including any consent to any waiver, amendment or other modification pursuant to
Section 9.02); provided, however, that any waiver, amendment or other modification that, disregarding the effect of this clause (ii), requires the consent of all Lenders or of all Lenders affected thereby shall, except as
otherwise provided in Section 9.02, continue to require the consent of such Defaulting Lender in accordance with the terms hereof; 

(iii) if any Swingline Exposure or any LC Exposure exists at the time such Revolving Lender becomes a Defaulting Lender, then:

 (A) the Swingline Exposure and LC Exposure of such Defaulting Lender (other than (1) any portion of such Swingline
Exposure (x) referred to in clause (b) of the definition of such term or (y) with respect to which such Defaulting Lender shall have funded its participation as contemplated by Section 2.05(c) and (2) any portion of such LC
Exposure attributable to unreimbursed LC Disbursements with respect to which such Defaulting Lender shall have funded its participation as contemplated by Sections 2.06(d) and 2.06(e)) shall be reallocated among the
Non-Defaulting Lenders in accordance with their respective Combined Tranche Percentages, but only to the extent that, after giving effect to such reallocation, the sum of all
Non-Defaulting Lenders’ US Tranche Revolving Exposures would not exceed the Aggregate US Tranche Revolving Commitment and the sum of all Non-Defaulting
Lenders’ European Tranche Revolving Exposures would not exceed the Aggregate European Tranche Revolving Commitment; 

(B) if the reallocation described in clause (A) above cannot, or can only partially, be effected, the Borrowers shall
within one Business Day following notice by the Administrative Agent (1) first, prepay the portion of such Defaulting Lender’s Swingline Exposure (other than any portion thereof referred to in the parenthetical in such clause (A)) that has
not been reallocated and (B) second, cash collateralize for the benefit of the Issuing Banks the portion of such Defaulting Lender’s LC Exposure (other than any portion thereof referred to in the parenthetical in such clause (A)) that has
not been reallocated in accordance with the procedures set forth in Section 2.06(j) for so long as such LC Exposure is outstanding; 

  
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 (C) if the Borrowers cash collateralize any portion of such Defaulting
Lender’s LC Exposure pursuant to clause (B) above, the Borrowers shall not be required to pay participation fees to such Defaulting Lender pursuant to Section 2.12(b) with respect to such portion of such Defaulting Lender’s LC
Exposure for so long as such Defaulting Lender’s LC Exposure is cash collateralized; 
 (D) if any portion of the LC
Exposure of such Defaulting Lender is reallocated pursuant to clause (A) above, then the fees payable to the Revolving Lenders pursuant to Sections 2.12(a) and 2.12(b) shall be adjusted to give effect to such reallocation; and 

(E) if all or any portion of such Defaulting Lender’s LC Exposure is neither reallocated nor cash collateralized pursuant
to clause (A) or (B) above, then, without prejudice to any rights or remedies of any Issuing Bank or any other Lender hereunder, all participation fees payable under Section 2.12(b) with respect to such Defaulting Lender’s LC Exposure
shall be payable to the Issuing Banks (and allocated among them ratably based on the amount of such Defaulting Lender’s LC Exposure attributable to Letters of Credit issued by each Issuing Bank) until and to the extent that such LC Exposure is
reallocated and/or cash collateralized; and 
 (iv) so long as such Revolving Lender is a Defaulting Lender, the Swingline
Lender shall not be required to fund any Swingline Loan and no Issuing Bank shall be required to issue, amend, renew or extend any Letter of Credit, unless, in each case, it is satisfied that the related exposure and the Defaulting Lender’s
then outstanding Swingline Exposure (other than the portion of such Swingline Exposure referred to in clause (b) of the definition of such term) or LC Exposure, as applicable, will be fully covered by the Revolving Commitments of the Non-Defaulting Lenders and/or cash collateral provided by the Borrower in accordance with this Section, and participating interests in any such funded Swingline Loan or in any such issued, amended, renewed or
extended Letter of Credit will be allocated among the Non-Defaulting Lenders in a manner consistent with Section 2.20(a)(iii)(A) (and such Defaulting Lender shall not participate therein). 

(b) In the event the Administrative Agent, the Swingline Lender, each Issuing Bank and Parent shall have agreed that a Revolving Lender that
is a Defaulting Lender has adequately remedied all matters that caused such Lender to become a Defaulting Lender, then (i) such Lender shall cease to be a Defaulting Lender for all purposes hereof, (ii) the obligations of the Revolving
Lenders to purchase participations in Swingline Loans under Section 2.05(c) and the participations of the Lenders in Letters of Credit under Section 2.06(d) shall be readjusted to be determined on the basis of the Lenders’ Combined Tranche
Percentages and (iii) such Lender shall purchase at par such of the Revolving Loans under the applicable Tranche of the other Revolving Lenders under such Tranche as the Administrative Agent shall determine to be necessary in order for the
Revolving Loans to be held by the Revolving Lenders in accordance with their applicable Tranche Percentages. 

  
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 (c) No Commitment of any Revolving Lender shall be increased or otherwise affected and, except as
otherwise expressly provided in this Section, performance by the Borrowers of their obligations hereunder and under the other Loan Documents shall not be excused or otherwise modified, as a result of the operation of this Section. The rights and
remedies against a Defaulting Lender under this Section are in addition to other rights and remedies that the Borrowers, the Agents, the Swingline Lender, any Issuing Bank or any Non-Defaulting Lender may have against such Defaulting Lender (and,
for the avoidance of doubt, each Non-Defaulting Lender shall have a claim against any Defaulting Lender for any losses it may suffer as a result of the operation of this Section). 

SECTION 2.21. Incremental Term Loans. (a) Parent may, by written notice to the Administrative Agent, request the establishment of
Incremental Term Commitments, provided that the aggregate amount of Incremental Term Commitments established on any date shall not exceed the Incremental Amount on such date. Each such notice shall set forth (i) the amount of the
requested Incremental Term Commitments (which, subject to the foregoing proviso, shall be at least US$50,000,000 unless otherwise agreed by the Administrative Agent) and (ii) the date on which such Incremental Term Commitments are requested to
be effective (which shall be a Business Day not less than 10 Business Days (or such shorter period as may be agreed to by the Administrative Agent) or more than 30 days after the date of such notice). Any Lender approached to provide any Incremental
Term Commitment may elect or decline, in its sole discretion, to provide such Incremental Term Commitment, and any Person that Parent proposes to become an Incremental Term Lender, if such Person is not then a Lender, must be an Eligible Assignee
and must be approved by the Administrative Agent (such approval not to be unreasonably withheld or delayed); provided that no Person may provide any Incremental Term Commitment to the extent that, on the date of effectiveness thereof or the
making of any Incremental Term Loans thereunder, such Person and its Affiliates, taken in the aggregate, would hold more than 25% of the sum of the total outstanding Revolving Credit Exposure, total unused Revolving Commitments, aggregate
outstanding principal amount of Incremental Term Loans and total unused Incremental Term Commitments, in each case, determined on such date immediately after giving effect to the effectiveness of such Incremental Term Commitments (and, if
applicable, any Commitment Increase or Commitment Decrease made on such date). 
 (b) The terms and conditions of any Incremental Term
Commitments and the Incremental Term Loans to be made thereunder shall be as set forth in the applicable Incremental Facility Agreement; provided that (i) no Incremental Term Maturity Date shall be earlier than the Revolving Maturity
Date in effect on the date of incurrence of such Incremental Term Loans, (ii) the scheduled amortization installments with respect thereto may not be more frequent than quarterly and the aggregate annual amount of scheduled amortization with
respect to any Incremental Term Loans may not exceed 10% of the original principal amount of such Incremental Term Loans (it being understood that, subject to this clause (ii), the amortization schedule applicable to (and the effect thereon of any
prepayments of) any Incremental Term Loans shall be determined by Parent and the applicable Incremental Term Lenders, (iii) covenants and events of default applicable to any Incremental Term Commitments or Incremental Term Loan shall be
identical to those applicable to the Revolving Commitments and the Revolving Loans, other than any such covenants and events of default applicable after the Revolving Maturity Date in effect on the date of incurrence of such Incremental Term Loans,
and (iv) except 

  
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 for the terms referred to above and subject to paragraph (c) of this Section, to the extent the terms of any
Incremental Term Loans (other than interest rates (whether fixed or floating), interest margins, benchmark rate floors, upfront fees, original issue discounts and prepayment terms (including “no call” terms and other restrictions thereon)
and premiums) are not consistent with those of the Revolving Loans, such differences shall be acceptable to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed). Any Incremental Term Commitments established pursuant
to an Incremental Facility Agreement that have identical terms and conditions, and any Incremental Term Loans made thereunder, shall be designated as a separate series (each a “Series”) of Incremental Term Commitments and
Incremental Term Loans for all purposes of this Agreement. 
 (c) The Incremental Term Commitments of any Series shall be effected pursuant
to an Incremental Facility Agreement executed and delivered by Parent, each Incremental Term Lender providing such Incremental Term Commitments and the Administrative Agent (which Incremental Facility Agreement shall in any event to contain a
representation by each such Incremental Term Lender that the requirements set forth in the proviso of the last sentence of paragraph (a) above have been satisfied with respect to it); provided that no Incremental Term Commitments shall
become effective unless (i) on the date of the effectiveness thereof, the conditions set forth in Sections 4.02(a) and 4.02(b) shall be satisfied (without giving effect to the parenthetical in Section 4.02(a), but, in each case, deeming
all references therein to the date, time or effect of a Borrowing (or an issuance, amendment, renewal or extension of a Letter of Credit) to refer to the date, time and effect of effectiveness of such Incremental Term Commitments and the making of
Incremental Term Loans thereunder and giving effect thereto and the use of proceeds thereof on a pro forma basis), provided that, in the case of Incremental Term Commitments established for the primary purpose of financing, in whole or in
part, any Limited Conditionality Acquisition (such Incremental Term Commitments, and Incremental Term Loans thereunder, being collectively referred to as “Limited Conditionality Acquisition Incremental Term Loans”), the condition
set forth in this clause (i) may be waived or modified in a manner determined by Parent and the Incremental Term Lenders providing such Incremental Term Commitments, as set forth in the applicable Incremental Facility Agreement, provided
further that, in any event, (A) on the date the applicable Limited Conditionality Acquisition Agreement becomes effective, no Default shall have occurred and be continuing or would have resulted therefrom, (B) on the date of
effectiveness of such Incremental Term Commitments or the making of Incremental Term Loans thereunder, no Event of Default under Section 7.01(a), 7.01(b) 7.01(h) or 7.01(i) shall have occurred and be continuing or would result therefrom after
giving effect thereto and the use of proceeds thereof on a pro forma basis and (C) on the date of effectiveness of such Incremental Term Commitments or the making of Incremental Term Loans thereunder, customary “SunGard”
representations and warranties (with such representations and warranties to be reasonably determined by the applicable Incremental Term Lenders and the Administrative Agent) shall be true and correct in all material respects (in all respects if
qualified by materiality) immediately prior to, and immediately after giving effect to, the effectiveness of such Incremental Term Commitments, the making of the Incremental Term Loans thereunder and the use of proceeds thereof, (ii) the
Administrative Agent shall have received a certificate dated as of such date and executed by a Financial Officer of Parent setting forth, in reasonable detail, the calculation of the Incremental Amount as of such date and confirming the satisfaction
of the condition in clause (A) above and (iii) the Administrative Agent shall have received documents 

  
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 consistent with those delivered pursuant to Sections 4.01(b) and 4.01(f) in connection therewith. Each
Incremental Facility Agreement may, without the consent of any Lender, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent and the Borrower, to give
effect to the provisions of this Section, including any amendments necessary to treat the applicable Incremental Term Commitments and Incremental Term Loans as a new Class of Commitments and Loans hereunder. 

ARTICLE III  

Representations and Warranties 

Each of Parent and each Borrowing Subsidiary represents and warrants to the Lenders that: 

SECTION 3.01. Organization; Powers. Parent and each Subsidiary is duly organized, validly existing and (to the extent the concept is
applicable in such jurisdiction) in good standing under the laws of the jurisdiction of its organization, except (other than in the case of any Loan Party) where the failure to do so, individually or in the aggregate, would not reasonably be
expected to result in a Material Adverse Effect, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in
a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required. 

SECTION 3.02. Authorization; Enforceability. The Transactions to be entered into by each Loan Party are within such Loan Party’s
corporate or other organizational powers and have been duly authorized by all necessary corporate or other organizational and, if required, stockholder or other equityholder action. This Agreement has been duly executed and delivered by Parent and
each Borrowing Subsidiary and constitutes (assuming due execution by the parties hereto other than Parent and the Borrowing Subsidiaries), and each other Loan Document to which any Loan Party
is or is to be a party, when executed and delivered by such Loan Party, will constitute (assuming due execution by the parties
thereto other than Parent and the Subsidiaries), a legal, valid and binding obligation of Parent, such Borrower or such Loan Party (as the case may be), enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or
filing with or any other action by any Governmental Authority, except those that have been obtained or are in full force and effect (b) will not violate any (i) applicable law or regulation or any order of any Governmental Authority or
(ii) the charter, by-laws or other organizational documents of Parent or any of the Subsidiaries, (c) will not violate or result (alone or with notice or lapse of time, or both) in a default under any indenture or other material agreement
or instrument binding upon Parent or any of the Subsidiaries or its assets, or require any payment to be made by Parent or any of the Subsidiaries thereunder and (d) except for Liens created under the Loan Documents, will not result in the
creation or imposition of any Lien on any asset of Parent or any of the Material Subsidiaries, except, in the case of clauses (a), (b)(i) and (c) above, as would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. 

  
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 SECTION 3.04. Financial Condition; No Material Adverse Change. (a) Parent has
heretofore furnished to the Lenders, through inclusion in an Annual Report on Form 10-K or Quarterly Report on Form 10-Q filed
with the SEC, a consolidated balance sheet and consolidated statements of operations, cash flows and, with respect to the fiscal year ended December 31,
2014,2016, changes in invested equity
and comprehensive income (loss) of Parent and the Subsidiaries (i) as of the end of and for the fiscal year ended December 31, 2014,2016, reported on by KPMG LLP, independent registered public accounting firm, and (ii) as of the end of and for the fiscal quarter (other than in the case
of the statement of cash flows) and the portion of the fiscal year ended March 31, 2015.2017. Such financial statements present fairly, in all material respects, the financial position and results of operations and cash
flows of Parent and the consolidated Subsidiaries as of such date and for such period in accordance with GAAP, subject to normal year-end audit adjustments and the absence of footnotes in the case of the statements referred to in clause
(ii) above. 
 (b) There has not occurred since December 31,
2014,2016, any event, condition or
circumstance that has had or would reasonably be expected to have a material adverse effect on the business, results of operations, assets or financial condition of Parent and the Subsidiaries, taken as a whole. 

(c) Except as disclosed in the financial statements referred to above or the notes thereto, after giving effect to the Transactions, none of
Parent or the Subsidiaries has, as of the First Amendment Effective Date, any material contingent liabilities. 

SECTION 3.05. Properties. (a) Each of Parent and the Subsidiaries has good title to, or valid leasehold interests in, all its real
and personal property material to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes and except as would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b) Each of Parent and the Subsidiaries
owns, or is licensed to use, all trademarks, tradenames, copyrights, patents and other intellectual property material to its business, except for intellectual property the failure to own or license which, individually or in the aggregate, would not
reasonably be expected to result in a Material Adverse Effect, and the use thereof by Parent and the Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or in the aggregate, would
not reasonably be expected to result in a Material Adverse Effect. 
 SECTION 3.06. Litigation and Environmental Matters.
(a) There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of Parent or any Borrowing Subsidiary, threatened in writing against or affecting Parent or any of the
Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or
(ii) that involve any of the Loan Documents or the Transactions. 

  
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 (b) Except with respect to matters that, individually or in the aggregate, would not reasonably
be expected to result in a Material Adverse Effect, neither Parent nor any of the Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any
Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received written notice of any claim with respect to any Environmental Liability or (iv) knows of any basis reasonably likely to result in any
Environmental Liability. 
 SECTION 3.07. Compliance with Laws and Agreements. Each of Parent and the Subsidiaries is in compliance
with all laws, regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so, individually or in the
aggregate, would not reasonably be expected to result in a Material Adverse Effect. No Default has occurred and is continuing. 
 SECTION
3.08. Investment Company Status. Neither Parent nor any of the Subsidiaries is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940. 

SECTION 3.09. Taxes. Each of Parent and the Subsidiaries has timely filed or caused to be filed all Tax returns and reports required to
have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which Parent or such Subsidiary, as applicable, has set
aside on its books reserves with respect thereto in accordance with GAAP or (b) to the extent that the failure to do so would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.10. ERISA. Except as would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse
Effect, (a) each Plan is in compliance with the applicable provisions of ERISA, the Code, and other Federal or state laws and, in each case, the regulations thereunder and (b) no ERISA Event has occurred or is reasonably expected to occur.
The excess of the present value of all accumulated benefit obligations under each Plan (based on assumptions used for purposes Accounting Standards Codification Topic 715), if any, over the fair market value of the assets of such Plan, would not
reasonably be expected to result in a Material Adverse Effect. 
 SECTION 3.11. Disclosure. The reports, financial statements,
certificates and other written factual information furnished by or on behalf of any Loan Party to any Agent or any Lender in connection with the negotiation of this Agreement or any other Loan Document or delivered hereunder or thereunder (as
modified or supplemented by other information theretofore so furnished), taken as a whole, do not contain any material misstatement of fact or omit to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading as of the date furnished; provided that (a) with respect to projected financial information, Parent and the Borrowing Subsidiaries represent and warrant only that such information
was prepared in good faith based upon assumptions believed by them to be reasonable at the time and (b) with respect to the consolidated financial statements of Parent delivered pursuant to Section 5.01(a) or 5.01(b), Parent and the
Borrowing Subsidiaries represent 

  
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and warrant only that such financial statements will, when delivered, present fairly in all material respects the financial position and results of operations and cash flows of Parent and the
Subsidiaries on a consolidated basis as of the end of and for the periods covered thereby in accordance with GAAP, subject to, in the case of such financial statements delivered pursuant to Section 5.01(b), normal year-end audit adjustments and
the absence of footnotes. 
 SECTION 3.12. Guarantee Requirement. The Guarantee Requirement is satisfied. 

SECTION 3.13. Subsidiaries. Schedule 3.13 sets forth, as of the
Original Effective Date, the name and jurisdiction of organization of, and the percentage of each class of Equity Interests
owned by Parent or any Subsidiary in, each Subsidiary and identifies, as of the Original Effective Date, each Designated
Subsidiary and each Material Subsidiary. 
 SECTION 3.14. Use of Proceeds; Margin Regulations. None of Parent or the
Subsidiaries is engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors), or extending credit for the purpose of
purchasing or carrying margin stock. The proceeds of the Loans and the Letters of Credit have been and will be used solely for the general corporate purposes of Parent and the Subsidiaries, including working capital, capital expenditures and
acquisitions. No part of the proceeds of any Loan have been or will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board of Governors, including Regulations T, U and X. 

SECTION 3.15. Borrowing Subsidiaries. Each Borrowing Subsidiary is subject to civil and commercial law with respect to its obligations
under this Agreement, and the execution, delivery and performance by such Borrowing Subsidiary of the applicable Borrowing Subsidiary Agreement, this Agreement and the Guarantee Agreement constitute and will constitute private and commercial acts
rather than public or governmental acts. Each Borrowing Subsidiary that is a Foreign Subsidiary has validly given its consent to be sued in respect of its obligations under the Borrowing Subsidiary Agreement, this Agreement and the Guarantee
Agreement. Each Borrowing Subsidiary that is a Foreign Subsidiary has waived every immunity (sovereign or otherwise) to which it or any of its properties would otherwise be entitled from any legal action, suit or proceeding, from jurisdiction of any
court or from setoff or any legal process (whether service or notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) under the laws of the jurisdiction of its incorporation in respect of
its obligations under the Borrowing Subsidiary Agreement, this Agreement and the Guarantee Agreement. The waiver by such Borrowing Subsidiary described in the immediately preceding sentence is legal, valid and binding on such Borrowing Subsidiary.

 SECTION 3.16. Anti-Corruption Laws and Sanctions. Parent has implemented and maintains in effect policies and procedures designed
to ensure compliance by Parent, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and Parent, its Subsidiaries and, to the knowledge of Parent, their respective
directors, officers, employees and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of (a) Parent, any Subsidiary or, to the knowledge of Parent, any of their respective directors,
officers or employees, or (b) to the 

  
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 knowledge of Parent, any agent of Parent or any Subsidiary that will act in any capacity in connection with or
benefit from the credit facility established hereby, is a Sanctioned Person. No Borrowing, issuance of a Letter of Credit or use of the proceeds of any Borrowing or any Letter of Credit will result in a violation by any party hereto of
Anti-Corruption Laws or application Sanctions. 
 SECTION 3.17. EEA
Financial Institutions. No Loan Party is an EEA Financial Institution. 

ARTICLE IV 
 Conditions

 SECTION 4.01. Original Effective Date. The obligations of the Lenders to make Loans and of the Issuing Banks to issue Letters of Credit under this Agreement
shall not becomebecame effective
untilas of the date on which each of
the following conditions iswas
satisfied (or waived in accordance with Section 9.02): 
 (a) The Administrative Agent or its counsel shall have
received from each party hereto either (i) a counterpart of this Agreement signed on behalf of such party or (ii) written evidence reasonably satisfactory to the Administrative Agent (which may include facsimile or other electronic
transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement. 
 (b)
The Administrative Agent shall have received such documents and certificates as the Administrative Agent may reasonably request relating to the organization, existence and good standing of each Loan Party, the authorization of the Transactions by
each Loan Party and any other legal matters relating to the Loan Parties and this Agreement and the other Loan Documents, all in form and substance reasonably satisfactory to the Administrative Agent. 

(c) The Administrative Agent shall have received a certificate, dated the Original Effective Date and signed by a Financial Officer of Parent, confirming that (i) the representations and warranties of
the Loan Parties set forth in the Loan Documents are true and correct in all material respects on and as of the Original
Effective Date (assuming, for this purpose, that the representation and warranty set forth in Section 3.04(b) excludes any event, condition or circumstance that is disclosed in
(A) Parent’s unaudited quarterly financial statements for the fiscal quarter ended March 31, 2015 filed on Form 10-Q with the SEC or (B) any publicly available press releases of Parent or publicly available filings by Parent with
the SEC released or filed prior to the date hereof, in each case excluding any such disclosure under the caption “Risk Factors” and any other disclosure that is cautionary, predictive or forward-looking in nature) and (ii) no Default
shall have occurred and be continuing on the Original Effective Date, in each case after giving effect to the
Transactions to occur on the Original Effective Date. 

(d) Each Lender shall have received all documentation and other information required to be obtained by such Lender under
applicable “know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act to the extent requested not fewer than five Business Days prior to
the Original Effective Date. 

  
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 (e) The Guarantee Requirement shall have been satisfied. 

(f) The Administrative Agent shall have received a favorable written opinion (addressed to the Agents, the Lenders and the
Issuing Banks and dated the Original Effective Date) of each of (i) Goodwin Procter LLP, counsel for Parent and the
Borrowing Subsidiaries, (ii) in-house counsel for Parent and (iii) local counsel in each jurisdiction in which a Loan Party is organized and the laws of which are not covered by the opinion referred to in clause (i) above, in each
case in form and substance reasonably acceptable to the Administrative Agent. 
 (g) The Administrative Agent shall
have received all fees and other amounts due and payable on or prior to the Original Effective Date, including, to the extent
invoiced at least two Business Days prior to the Original Effective Date, reimbursement or payment of all out-of-pocket
expenses (including fees, charges and disbursements of counsel) required to be reimbursed or paid under the Commitment Letter, any fee letter referred to therein or this Agreement. 

(h) Prior to or substantially contemporaneously with the initial funding of Loans on the Original Effective Date, all principal, premium, if any, interest, fees and other amounts due or outstanding under the Existing
Credit Agreement shall have been or shall be paid in full, the commitments thereunder shall have been or shall be terminated and all Guarantees existing in connection therewith shall have been or shall be discharged and released, and the
Administrative Agent shall have received reasonably satisfactory evidence thereof. 
 The Administrative Agent shall notifynotified Parent, the Borrowers, the
Lenders and the Issuing Banks of the Original Effective Date, and such notice shall be conclusive and binding.

 SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing (other than
any conversion or continuation of a Loan), and of each Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to receipt of the request therefor in accordance herewith and to the satisfaction of the following conditions: 

(a) The representations and warranties of the Loan Parties set forth in this Agreement (other than, after the First Amendment Effective Date, the representations and warranties set forth in Sections 3.04(b) and 3.06 and, with respect to the
representation and warranty set forth in Section 3.04(b) made on the First Amendment Effective Date, assuming that
such representation and warranty excludes any event, condition or circumstance that is disclosed in (i) Parent’s unaudited quarterly financial statements for the fiscal quarter ended March 31, 20152017 filed on Form 10-Q with the SEC or
(ii) any publicly available press releases of Parent or publicly available filings by Parent with the SEC released or filed prior to the date hereofFirst Amendment Effective Date, in each case excluding any such disclosure under the caption “Risk Factors” and any other
disclosure that is cautionary, predictive or forward-looking 

  
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 in nature) and the other Loan Documents
shall be true and correct in all material respects (or, in the case of any such representation or warranty under this
Agreement already qualified as to materiality, in all respects) on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as
applicable (except in the case of any such representation and warranty that expressly relates to a prior date, in which case such representation and warranty shall have been true and correct in all material respects on and as of such prior date).

 (b) At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such
Letter of Credit, as applicable, no Default shall have occurred and be continuing. 
 Each Borrowing (other than any conversion or continuation of a Loan)
and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by the applicable Borrower on the date thereof that the conditions specified in paragraphs (a) and (b) of
this Section 4.02 have been satisfied. Notwithstanding the foregoing, in the case of any Limited Conditionality Acquisition Incremental Term Loans, the condition set forth in paragraphs (a) or (b) of this Section may, to the extent
permitted by Section 2.21(c), be waived or modified as set forth in the applicable Incremental Facility Agreement. 
 SECTION 4.03.
Credit Events in Respect of Each Borrowing Subsidiary. The obligations of the Lenders to make the initial Loans to, or of the Issuing Banks to issue Letters of Credit for the account of, each Borrowing Subsidiary (other than the Borrowing
Subsidiaries that are party to this Agreement on the date hereofFirst Amendment Effective
Date) are subject to the satisfaction of the following additional conditions: 

(a) The Administrative Agent or its counsel shall have received from each of such Borrowing Subsidiary and Parent either (i) a
counterpart of a Borrowing Subsidiary Agreement signed on behalf of such party or (ii) written evidence reasonably satisfactory to the Administrative Agent (which may include facsimile or other electronic transmission of a signed signature page
of such Borrowing Subsidiary Agreement) that such party has signed a counterpart of a Borrowing Subsidiary Agreement. and such Borrowing Subsidiary Agreement shall have become effective as provided in Section 2.04. 

(b) The Administrative Agent shall have received a favorable written opinion of counsel for such Borrowing Subsidiary (which counsel shall be
reasonably acceptable to the Administrative Agent), in form and substance reasonably satisfactory to the
AgentsAdministrative Agent, (i) dated the
date of the applicable Borrowing Subsidiary Agreement, (ii) addressed to the Agents, the Lenders and the Issuing Banks and (iii) covering such matters as the Administrative Agent shall reasonably request. 

(c) The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably
request relating to the organization, existence and good standing of such Borrowing Subsidiary, the authorization by it of the Transactions to which it will be party and any other legal matters relating to such Borrowing Subsidiary, the Loan
Documents or the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 

  
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 (d) The Administrative Agent shall have received a certificate, dated the date of the applicable
Borrowing Subsidiary Agreement and signed by a Financial Officer of Parent, confirming satisfaction of the conditions set forth in Sections 4.02(a) and 
4.02(b) (in each case, deeming all references therein to the date, time or effect of a
Borrowing (or an issuance, amendment, renewal or extension of a Letter of Credit) to refer to the date, time and effect of such Borrowing Subsidiary Agreement). 

(e) Each Lender shall have received all documentation and other information with respect to such Borrowing Subsidiary required to be obtained
by such Lender under applicable “know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act. 

ARTICLE V  
 Affirmative
Covenants 
 Until the Commitments have expired or been terminated, the principal of and interest on each Loan and all fees payable
hereunder shall have been paid in full, all Letters of Credit shall have expired or been terminated and all LC Disbursements shall have been reimbursed by the Borrowers, Parent and each Borrowing Subsidiary covenants and agrees with the Lenders
that: 
 SECTION 5.01. Financial Statements and Other Information. Parent will furnish to the Administrative Agent, on behalf of each
Lender: 
 (a) (i) so long as Parent is subject to periodic reporting obligations under the Exchange Act, within 10 Business Days of each
date Parent is required to file with the SEC an Annual Report on Form 10-K for any fiscal year of Parent (giving effect to any extension of such date available under paragraph (b) of Rule 12b-25 under the Exchange Act), and (ii) otherwise,
within 90 days after the end of each fiscal year of Parent, its audited consolidated balance sheet and related consolidated statements of operations, changes in stockholders’ equity and comprehensive income and cash flows as of the end of and
for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all audited by and accompanied by the opinion of KPMG LLP or another registered independent public accounting firm of recognized national
standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material
respects the financial position and results of operations and cash flows of Parent and the Subsidiaries on a consolidated basis as of the end of and for such fiscal year in accordance with GAAP; 

(b) (i) so long as Parent is subject to periodic reporting obligations under the Exchange Act, within 10 Business Days of each date Parent is
required to file with the SEC a Quarterly Report on Form 10-Q for any fiscal quarter of Parent (giving effect to any extension of such date available under paragraph (b) of Rule 12b-25 under the Exchange Act), and (ii) otherwise, within 45
days after the end of each of the first three fiscal quarters of Parent, its consolidated balance sheet and related consolidated statements of operations and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the
fiscal year, setting forth 

  
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in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by a Financial Officer of Parent as presenting fairly in all material respects the financial position and results of operations and cash flows of Parent and the
consolidated Subsidiaries on a consolidated basis in accordance with GAAP, subject to normal year-end audit adjustments and the absence of footnotes, and accompanied by a certification of a Financial Officer of Parent to that effect; 

(c) within five Business Days following any delivery of financial statements under clause (a) or (b) above, a completed Compliance
Certificate signed by a Financial Officer of Parent (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto,
(ii) setting forth reasonably detailed calculations demonstrating compliance with Section 6.10; (iii) stating whether any change in GAAP or in the application thereof has occurred since the date of the audited financial statements referred
to in Section 3.04 that has had a material effect on the calculation of Leverage Ratio and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such certificate and (iv) in the
case of any Compliance Certificate relating to the financial statements delivered under clause (a) above, identifying each Material Subsidiary as of the date of such Compliance Certificate; 

(d) promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed by
Parent or any Subsidiary with the SEC, or any Governmental Authority succeeding to any or all of the functions of the SEC, or with any national securities exchange, or distributed by Parent to its shareholders generally, as the case may be; 

(e) promptly after any request therefor by the Administrative Agent or any Lender, copies of (i) any documents described in Section
101(i)(1) of ERISA that Parent or any of its ERISA Affiliates may request with respect to any Multiemployer Plan and (ii) any notices described in Section 101(l)(1) of ERISA that Parent or any of its ERISA Affiliates may request with respect to
any Multiemployer Plan; provided that, if Parent or any of its ERISA Affiliates has not requested such documents or notices from the administrator or sponsor of the applicable Multiemployer Plan, Parent or the applicable ERISA Affiliate shall
promptly make a request for such documents and notices from such administrator or sponsor and shall provide copies of such documents and notices promptly after receipt thereof; and 

(f) promptly after any request therefor, such other information regarding the operations, business affairs and financial condition of Parent
or any Subsidiary, or compliance with the terms of any Loan Document, as the Administrative Agent (on its own behalf or at the request of any Lender) may reasonably request. 

Information required to be delivered pursuant to this Section shall be deemed to have been delivered if such information (including, in the case of
certifications required pursuant to clause (b) above, the certifications accompanying any such quarterly report pursuant to Section 302 of the Sarbanes-Oxley Act of 2002), or one or more annual or quarterly reports containing such
information, shall have been posted by the Administrative Agent on IntraLinksthe Electronic
System or a similar site to which the Lenders have been granted access or shall be available on the website of the SEC at http://www.sec.gov. Information required to be delivered
pursuant to this 

  
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Section may also be delivered by electronic communications pursuant to procedures approved by the Administrative Agent. In the event any financial statements delivered under clause (a) or
(b) above shall be restated, Parent shall deliver, promptly after such restated financial statements become available, revised completed Compliance Certificates with respect to the periods covered thereby that give effect to such restatement, signed
by a Financial Officer of Parent. 
 SECTION 5.02. Notices of Material Events. Parent will furnish to the Administrative Agent prompt
written notice of the following: 
 (a) the occurrence of any Default; 

(b) the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against
or affecting Parent or any Subsidiary that could reasonably be expected to be adversely determined and, if adversely determined, could reasonably be expected to result in a Material Adverse Effect; and 

(c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably
be expected to result in a Material Adverse Effect. 
 Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer
or other executive officer of Parent describing the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

SECTION 5.03. Existence; Conduct of Business. Parent will, and will cause each of the Subsidiaries to, do or cause to be done all
things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges, franchises, patents, copyrights, trademarks and trade names material to the conduct of its business, except
(other than with respect to legal existence of any Loan Party) where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect; provided that the foregoing shall not
prohibit any merger, consolidation, sale, transfer, lease, disposition, liquidation or dissolution permitted under Section 6.04 or 6.08. 

SECTION 5.04. Payment of Tax Liabilities. Parent will, and will cause each of the Subsidiaries to, pay its Tax liabilities that, if not
paid, would reasonably be expected to result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings and
(b) Parent or such Subsidiary has set aside on its books reserves with respect thereto in accordance with GAAP. 
 SECTION 5.05.
Maintenance of Properties; Insurance. Parent will, and will cause each of the Subsidiaries (other than any Excluded Subsidiary) to, (a) keep and maintain all property material to its business in good working order and condition, ordinary
wear and tear excepted, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, and (b) maintain, with financially sound and reputable insurance companies,
insurance in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the 

  
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same or similar locations; provided that Parent and the Subsidiaries may (i) self-insure against such risks and in amounts as are usually self-insured by similar companies engaged in
the same or similar businesses operating in the same or similar locations and (ii) elect not to carry terrorism insurance. 
 SECTION
5.06. Books and Records; Inspection Rights. Parent will, and will cause each of the Subsidiaries to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its
business and activities. Parent will, and will cause each of the Subsidiaries (other than any Excluded Subsidiary) to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and
inspect its properties, to examine and make extracts from its books and records and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and as often as reasonably requested;
provided that, unless an Event of Default has occurred and is continuing, (a) no representative designated by a Lender may conduct any such visit, inspection, examination, extraction or discussion unless such representative is
accompanied by a representative designated by the Administrative Agent and (b) the Administrative Agent and the Lenders may not exercise such rights more often than once during any fiscal year of Parent. 

SECTION 5.07. Compliance with Laws. Parent will, and will cause each of the Subsidiaries to, comply with all laws, rules, regulations
and orders of any Governmental Authority applicable to it or its property, except where the failure to do so individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. Parent will maintain in effect
and enforce policies and procedures designed to ensure compliance by Parent, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. 

SECTION 5.08. Further Assurances. (a) Parent will, and will cause each of the Subsidiaries to, execute any and all further
documents, agreements and instruments, and take all further actions that may be required under any applicable law or regulation, or that the Administrative Agent may reasonably request, (i) to effectuate the transactions contemplated by the
Loan Documents (including taking any of the foregoing in connection with the CAM Exchange) and (ii) to cause the Guarantee Requirement to be and remain satisfied at all times. 

(b) If after the Original Effective Date any Subsidiary is formed or acquired and such Subsidiary is a Designated Subsidiary, or any Subsidiary otherwise becomes a Designated Subsidiary, Parent will, as promptly as practicable, and in any
event within 30 days (or such longer period as the Administrative Agent may agree to in writing), notify the Administrative Agent thereof and cause the Guarantee Requirement to be satisfied with respect to such Subsidiary. 

  
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 ARTICLE VI 

Negative Covenants 
 Until
the Commitments have expired or been terminated, the principal of and interest on each Loan and all fees payable hereunder have been paid in full, all Letters of Credit have expired or been terminated and all LC Disbursements shall have been
reimbursed by the Borrowers, Parent and each Borrowing Subsidiary covenants and agrees with the Lenders that: 
 SECTION 6.01.
Indebtedness. Parent will not permit any Subsidiary (other than any Loan Party that Guarantees all the Obligations or any Excluded Subsidiary) to, create, incur, assume or permit to exist any Indebtedness, except: 

(a) Indebtedness created under the Loan Documents; 

(b) Indebtedness existing on the date hereof and set forth on Schedule 6.01, and extensions, renewals and replacements of any
such Indebtedness that do not increase the outstanding principal amount thereof, result in an earlier maturity date or decreased remaining weighted average life to maturity thereof or change the parties directly or indirectly responsible for the
payment thereof; 
 (c) Indebtedness owed to Parent or to any Subsidiary; provided that such Indebtedness shall not
have been transferred or pledged to any Person other than Parent or any Subsidiary; 
 (d) Indebtedness incurred to finance
the acquisition, construction or improvement of any fixed or capital assets, including Capital Lease Obligations, and any Indebtedness incurred or assumed in connection with the acquisition, construction or improvement of any such assets or secured
by a Lien on any such assets prior to the acquisition thereof, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof, result in an earlier maturity date or decreased
remaining weighted average life to maturity thereof or change the parties directly or indirectly responsible for the payment thereof; provided that (i) such Indebtedness
(other than otherwise permitted extensions, renewals and replacements thereof) is incurred prior to or within 180 days after such acquisition or the completion of such construction or
improvement and (ii) the aggregate principal amount of Indebtedness permitted by this clause (d) shall not exceed, in each case, the cost of such acquisition, construction or improvement; 

(e) Indebtedness of any Person that becomes a Subsidiary (or of any Person not previously a Subsidiary that is merged or
consolidated with or into a Subsidiary in a transaction permitted hereunder) after the date hereof, or Indebtedness of any Person that is assumed by any Subsidiary in connection with an acquisition of assets by such Subsidiary in an acquisition or
other business combination after the date hereof, provided that such Indebtedness exists at the time such Person becomes a Subsidiary (or is so merged or consolidated) or such assets are acquired and is not created in contemplation of or in
connection with such Person becoming a Subsidiary (or such merger or consolidation) or such assets being acquired; 
 (f)
Indebtedness of any Subsidiary as an account party in respect of trade letters of credit; 

  
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 (g) Indebtedness consisting of (i) the financing of insurance premiums or
(ii) take or pay obligations contained in supply arrangements, in each case, incurred in the ordinary course of business; 

(h) Indebtedness representing deferred compensation to employees incurred in the ordinary course of business; 

(i) Indebtedness consisting of any purchase price adjustment, earnout or deferred payment of a similar nature incurred in
connection with any investment by any Subsidiary, but only to the extent that no payment has at the time accrued pursuant to such purchase price adjustment, earnout or deferred payment obligation, or of any indemnification obligation arising in
connection with any investment by any Subsidiary; 
 (j) Indebtedness arising under any performance or surety bond (including
any consumer protection bond or any performance bond posted in respect of contested tax assessments), completion bond or similar obligation, in each case incurred in the ordinary course of business and not supporting Indebtedness; 

(k) overdrafts paid within five Business Days of such Subsidiary (or Parent) obtaining knowledge of such overdraft; 

(l) all premium (if any), interest (including post-petition interest), fees, expenses, charges and additional or contingent
interest on obligations described in the foregoing clauses of this Section; 
 (m) guarantees of Indebtedness of Loan
Parties; 
 (n) Indebtedness consisting of promissory notes issued to current or former officers, directors and employees of
a Subsidiary, their respective estates, spouses or former spouses issued in exchange for the purchase or redemption by such Subsidiary of its Equity Interests (other than Disqualified Equity Interests); provided that the aggregate principal
amount of such Indebtedness permitted by this clause (n) shall not exceed US$10,000,000 at any time outstanding; 
 (o)
obligations under Swap Agreements that are entered into to hedge or mitigate risks to which Parent or any Subsidiary has actual or anticipated exposure (other than in respect of Equity Interests or Indebtedness of Parent or any Subsidiary) or to
cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) or exchange rates with respect to any interest bearing or non-US Dollar
denominated liability or investment of Parent or any Subsidiary; and 
 (p) other Indebtedness, provided that, as of
the Original Effective Date or immediately after giving pro forma effect to the creation, incurrence or assumption of any such
Indebtedness and any substantially concurrent use of proceeds thereof, (i) the aggregate amount of Priority Indebtedness shall not exceed the greater of (A) US$300,000,000 and (B) 15% of the Consolidated Total Assets as of the end of the
fiscal quarter of Parent then most recently ended, (ii) no Event of Default shall have occurred and be continuing and (iii) Parent shall be in compliance with the Leverage Ratio covenant set forth in Section 6.10 as of the end of the
fiscal quarter of Parent then most recently ended. 

  
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 SECTION 6.02. Liens. Parent will not, and will not permit any Subsidiary (other than any
Excluded Subsidiary) to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof,
except: 
 (a) (i) Permitted Encumbrances and (ii) Liens created under the Loan Documents; 

(b) any Lien on any asset of Parent or any Subsidiary (or on any improvements or accessions thereto or proceeds therefrom)
existing on the date hereof and set forth on Schedule 6.02; provided that (i) such Lien shall not apply to any other asset of Parent or any Subsidiary and (ii) such Lien shall secure only those obligations that it secures on the
date hereof and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 

(c) any Lien existing on any asset prior to the acquisition thereof by Parent or any Subsidiary or existing on any asset of any
Person that becomes a Subsidiary (or of any Person not previously a Subsidiary that is merged or consolidated with or into Parent or a Subsidiary in a transaction permitted hereunder) after
the Original Effective Date prior to the time such Person becomes a Subsidiary (or is so merged or consolidated);
provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary (or such merger or consolidation), as the case may be, (ii) such Lien shall not apply to any
other assets of Parent or any Subsidiary and (iii) such Lien shall secure only those obligations that it secures on the date of such acquisition or the date such Person becomes a Subsidiary (or is so merged or consolidated), as the case may be,
and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 

(d) Liens on fixed or capital assets acquired, constructed or improved by Parent or any Subsidiary; provided that
(i) such Liens secure solely Indebtedness permitted by Section 6.01(d) or, for the avoidance of doubt, Indebtedness of the type referred to in Section 6.01(d) that would be permitted to be incurred by Parent or any Subsidiary under Section
6.01(d) if it were subject to Section 6.01 and obligations relating thereto not constituting Indebtedness, (ii) such Liens and the Indebtedness secured thereby (other than
otherwise permitted extensions, renewals and replacements thereof) are incurred prior to or within 180 days after such acquisition or the completion of such construction or improvement,
(iii) the Indebtedness secured thereby was incurred to pay, and does not exceed, in each case, the cost of acquiring, constructing or improving such fixed or capital assets and (iv) such Liens shall not apply to any other assets of Parent
or any Subsidiary; 
 (e) Liens arising in the ordinary course of business that do not secure Indebtedness and do not
interfere with the material operations of Parent and the Subsidiaries and do not individually or in the aggregate materially impair the value of the assets of Parent and the Subsidiaries; 

  
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 (f) licenses, sublicenses, leases or subleases (other than any Capital Lease
Obligations or Sale/Leaseback Transaction) that do not interfere in any material respect with the business of Parent or any Subsidiary ; 

(g) any interest or title of a lessor or sublessor under, and Liens arising from UCC financing statements (or equivalent
filings, registrations or agreements in foreign jurisdictions) relating to, leases and subleases permitted hereunder (other than any Capital Lease Obligations or Sale/Leaseback Transaction); 

(h) normal and customary rights of setoff upon deposits of cash or other Liens originating solely by virtue of any statutory or
common law provision relating to bankers liens, rights of setoff or similar rights in favor of banks or other depository institutions and not securing any Indebtedness; 

(i) Liens of a collection bank arising under Section 4-210 of the Uniform
Commercial Code on items in the course of collection; 
 (j) Liens solely on any cash earnest money deposits made by Parent
or any Subsidiary in connection with any letter of intent or purchase agreement in respect of any acquisition or other investment by Parent or any Subsidiary; 

(k) any extension, renewal or replacement (or successive renewals or replacements) in whole or in part of any Lien referred to
in clause (b), (c) or (d) above; provided that (i) the obligations secured thereby shall be limited to the obligations secured by the Lien so extended, renewed or replaced (and, to the extent provided in such clauses, extensions,
renewals and replacements thereof) and (ii) such Lien shall be limited to all or a part of the assets that secured the Lien so extended, renewed or replaced; and 

(l) other Liens, provided that, as of the
Original Effective Date or immediately after giving pro forma effect to the creation, incurrence or assumption of any such Lien or of any Indebtedness secured in reliance on this clause
(l) and any substantially concurrent use of proceeds thereof, (i) the aggregate amount of Priority Indebtedness shall not exceed the greater of (A) US$300,000,000 and (B) 15% of the Consolidated Total Assets as of the end of the
fiscal quarter of Parent then most recently ended, (ii) no Event of Default shall have occurred and be continuing and (iii) Parent shall be in compliance with the Leverage Ratio covenant set forth in Section 6.10 as of the end of the
fiscal quarter of Parent then most recently ended. 
 SECTION 6.03. Sale/Leaseback Transactions. Parent will not, and will not
permit any Subsidiary (other than any Excluded Subsidiary) to, enter into any arrangement, directly or indirectly, with any Person whereby Parent or any such Subsidiary shall sell or transfer any property, real or personal, used or useful in its
business, whether now owned or hereafter acquired, and thereafter Parent or any such Subsidiary shall rent or lease such property or other property that it intends to use for substantially the same purpose or purposes as the property being sold or
transferred from such Person or its Affiliates (any such arrangement being referred to as a “Sale/Leaseback Transaction”); provided that, notwithstanding the foregoing, Parent and any Subsidiary may engage in any
Sale/Leaseback Transaction if, after giving pro forma effect 

  
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thereto, (a) the aggregate amount of Priority Indebtedness shall not exceed the greater of (i) US$300,000,000 and (ii) 15% of the Consolidated Total Assets as of the end of the fiscal
quarter of Parent then most recently ended, (b) no Event of Default shall have occurred and be continuing and (c) Parent shall be in compliance with the Leverage Ratio covenant set forth in Section 6.10 as of the end of the fiscal
quarter of Parent then most recently ended. 
 SECTION 6.04. Fundamental Changes; Business Activities. (a) Parent will not, and
will not permit any Material Subsidiary (other than any Excluded Subsidiary) to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or liquidate or dissolve; provided that, if at
the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing, (i) Parent or any Material Subsidiary may merge or consolidate with any Person; provided that (A) in the case of any
merger or consolidation involving Parent or any Borrowing Subsidiary, (1) either (x) Parent or such Borrowing Subsidiary shall be the continuing or surviving Person or (y) the continuing or surviving Person shall be a corporation or
limited liability company organized under the laws of the United States of America or any State thereof and shall assume all of Parent’s or such Borrowing Subsidiary’s obligations under the Loan Documents in a manner reasonably acceptable
to the Administrative Agent, and (2) Parent or such Borrowing Subsidiary shall give the Lenders reasonable prior notice thereof in order to allow the Lenders to comply with “know your customer” rules and other applicable regulations;
and (B)(1) in the case of any merger or consolidation involving a Material Subsidiary, the continuing or surviving Person shall be a Subsidiary and, if such Material Subsidiary is a Wholly Owned Subsidiary, shall be a Wholly Owned Subsidiary, and
(2) in the case of any merger or consolidation involving a Material Subsidiary that is a Subsidiary Loan Party, the continuing or surviving Person shall be a Subsidiary Loan Party; provided that the requirements set forth in this clause
(B) shall not apply to any such merger or consolidation involving a Material Subsidiary (other than any Borrowing Subsidiary) consummated to effect any sale, transfer or other disposition of all of the Equity Interests in such Material
Subsidiary owned by Parent and the Subsidiaries in accordance with Section 6.08; and (ii) any Material Subsidiary (other than a Borrowing Subsidiary) may liquidate or dissolve into another Subsidiary; provided that in the case of
any such liquidation or dissolution of a Material Subsidiary that is a Wholly Owned Subsidiary, the other Subsidiary shall be a Wholly Owned Subsidiary and, if such liquidating or dissolving Material Subsidiary is a Subsidiary Loan Party, shall be a
Subsidiary Loan Party. 
 (b) Parent will not, and will not permit any Subsidiary (other than any Excluded Subsidiary) to, engage to any
material extent in any business other than businesses conducted as of the Original Effective Date by Parent and the
Subsidiaries, taken as a whole, and businesses similar, ancillary, complementary or otherwise reasonably related thereto or that are a reasonable extension, development or expansion thereof. 

SECTION 6.05. Restricted Payments. Parent will not, and will not permit any Subsidiary (other than any Excluded Subsidiary) to, declare
or make, or agree to pay or make, directly or indirectly, any Restricted Payment, except that (a) Parent may declare and make Restricted Payments with respect to its Equity Interests payable or made solely in additional shares of its Equity
Interests (other than Disqualified Equity Interests) or payable or made with the net cash proceeds of the substantially concurrent issue of new Equity Interests (other than 

  
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Disqualified Equity Interests) in Parent, (b) Subsidiaries may declare and pay dividends ratably (or on more favorable terms from the perspective of Parent) with respect to their Equity
Interests, (c) Subsidiaries may declare and make any Restricted Payments made to Parent or the other Subsidiaries, (d) Parent may make repurchases of Equity Interests deemed to occur upon the “cashless exercise” of stock options
or warrants or upon the vesting of restricted stock units, if such Equity Interests represent the exercise price of such options or warrants or represent withholding taxes due upon such exercise or vesting, (e) Parent and the Subsidiaries may
purchase Equity Interests in non-Wholly Owned Subsidiaries from the minority owners thereof (whether by means of stock acquisition, self-tender, redemption or otherwise) and (f) Parent and the
Subsidiaries may make Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans for management or employees of Parent and the Subsidiaries; provided that Parent and any Subsidiary may make any Restricted
Payments if (x) no Default shall have occurred and be continuing or would result therefrom and (y) Parent shall be in compliance with the covenant set forth in Section 6.10 as of the end of the fiscal quarter of Parent most recently
ended on or prior to the date of such Restricted Payment, giving pro forma effect to such Restricted Payment and any related incurrence of Indebtedness as if they had occurred on the last day of such quarter. 

SECTION 6.06. Transactions with Affiliates. Parent will not, and will not permit any Subsidiary (other than any Excluded Subsidiary)
to, sell, lease or otherwise transfer any assets to, or purchase, lease or otherwise acquire any assets from, or otherwise engage in any other transactions with, any of its Affiliates, except (a) at prices and on terms and conditions not less
favorable to Parent or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, (b) transactions between or among Parent, Wholly-Owned Subsidiaries and Subsidiary
Loan Parties not involving any other Affiliate, (c) transactions between or among Subsidiaries that are not Loan Parties, (d) any Restricted Payment permitted by Section 6.05, (e) payments made and other transactions entered into in
the ordinary course of business with officers and directors of Parent or any Subsidiary, and consulting fees and expenses incurred in the ordinary course of business payable to former officers or directors of Parent or any Subsidiary,
(f) reclassifications or changes in the terms of or other transactions relating to Equity Interests in Parent held by Affiliates that do not involve the payment of any consideration (other than Equity Interests (other than Disqualified Equity
Interests) in Parent) or any other transfer of value by Parent or any Subsidiary to any such Affiliate, (g) payments by Parent, or any Subsidiary to or on behalf of any Affiliate of Parent or any Subsidiary in connection with out-of-pocket expenses incurred in connection with any public or private offering, other issuance or sale of stock by or an Affiliate of Parent or other transaction for the
benefit of Parent or any Subsidiary, (h) Permitted Charitable Contributions, (i) any transaction involving consideration or value of less than US$250,000 and (j) transactions permitted under Section 6.08(m); provided,
however, that this Section shall not limit the operation or effect of, or any payments under, (i) any license, lease, service contract, purchasing agreement, disposition agreement or similar arrangement entered into in the ordinary
course of business between any Subsidiary and Parent or any other Subsidiary or (ii) any agreement with respect to any joint venture to which Parent or any Subsidiary is a party entered into in connection with, or reasonably related to, its
lines of business; provided that such agreement is approved by Parent’s board of directors or the audit committee thereof. 

  
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 SECTION 6.07. Restrictive Agreements. Parent will not, and will not permit any Subsidiary
(other than any Excluded Subsidiary) to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of Parent or any Domestic
Subsidiary to create, incur or permit to exist any Lien upon any of its assets to secure any Obligations or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock, membership
interests or similar Equity Interests or to make or repay loans or advances to Parent or any other Subsidiary or to Guarantee Indebtedness of Parent or any other Subsidiary; provided that (i) the foregoing shall not apply to
(A) restrictions and conditions imposed by law or by any Loan Document, (B) restrictions and conditions existing on the date hereof and identified on Schedule 6.07 (and any extension or renewal thereof so long as the scope of such
restrictions and conditions is not expanded), (C) restrictions and conditions with respect to a Person that is not a Subsidiary on the date hereof, which restrictions and conditions are in existence at the time such Person becomes a Subsidiary or is
merged or consolidated with a Subsidiary and are not incurred in connection with, or in contemplation of, such Person becoming a Subsidiary, so long as such restrictions and conditions apply only to such Person (and any extension or renewal thereof
so long as the scope of such restrictions and conditions is not expanded), (D) restrictions and conditions contained in any agreement or document governing or evidencing any Indebtedness of Parent or any Subsidiary permitted hereunder,
provided that, with respect to matters referred to in clause (a) of the foregoing and other than with respect to any such restrictions or conditions contained in agreements or documents governing or evidencing Capital Lease Obligations,
such restrictions and conditions shall not restrict Parent and the Subsidiaries from creating, incurring or permitting to exist Liens upon any of their assets to secure any Obligations so long as the aggregate principal amount of the Obligations
constituting Indebtedness that are so secured does not exceed the amount equal to the sum of (x) the total amount of the unused Commitments in effect at the time the Indebtedness containing such restrictions or conditions is incurred,
(y) the total amount of Revolving Credit Exposure outstanding at such time and (z) the aggregate principal amount of Incremental Term Loans outstanding at such time, and (E) in the case of any Domestic Subsidiary that is not a
Designated Subsidiary or any Foreign Subsidiary, in each case, that is not a Wholly Owned Subsidiary, restrictions in such Person’s organizational documents or pursuant to any joint venture agreement or equityholders agreement; (ii) clause
(a) of the foregoing shall not apply to (A) restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the assets securing such Indebtedness
and (B) customary provisions in leases and other agreements restricting the assignment thereof; and (iii) clause (b) of the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of
a Subsidiary pending such sale; provided that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder. 

SECTION 6.08. Asset Dispositions. Parent will not, and will not permit any Subsidiary (other than any Excluded Subsidiary) to, sell,
transfer, lease or otherwise dispose of any asset, including any Equity Interest, owned by it, nor will Parent permit any of the Subsidiaries (other than any Excluded
Subsidiary) to issue any additional Equity Interest in such Subsidiary, except: 

(a) sales of inventory, used or surplus equipment and other fixed assets in the ordinary course of business and dispositions of
cash and Permitted Investments in a manner not otherwise prohibited hereunder; 

  
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 (b) sales, transfers and other dispositions (i) to a Loan Party or
(ii) among any Subsidiaries that are not Loan Parties; 
 (c) issuances of Equity Interests in a Subsidiary (i) as
incentive compensation to officers, directors or employees of such Subsidiary, (ii) to Parent or a Wholly Owned Subsidiary or (iii) as a Restricted Payment made in reliance on Section 6.05(b); 

(d) dispositions of assets to the extent that (i) such assets are exchanged for credit against the purchase price of
similar replacement assets or (ii) the proceeds of such disposition are reasonably promptly applied to the purchase price of such replacement assets; 

(e) licenses, sublicenses, leases and subleases that do not interfere in any material respect with the business of Parent or
any Subsidiary; 
 (f) sales or discounts of accounts receivable in connection with the compromise or collection thereof in
the ordinary course of business; 
 (g) the granting of Liens or entry into Securitization Transactions permitted by
Section 6.02; 
 (h) any Sale/Leaseback Transaction permitted by Section 6.03; 

(i) any Restricted Payment permitted under Section 6.05 (other than non-cash
payments permitted solely under the proviso in such Section); 
 (j) sales, transfers and dispositions of all the Equity
Interests in a Subsidiary owned by Parent and the Subsidiaries and sales, transfers, leases and other dispositions of other assets (other than accounts receivable as part of a Securitization Transaction or inventory as part of an inventory
financing), in each case to the extent made to a Person other than Parent or any Subsidiary and to the extent not made in reliance on any other clause of this Section; provided that at the time of each such sale, transfer or disposition and
after giving effect thereto, (i) the sum, without duplication, of (x) the aggregate book value of all assets sold, transferred, leased or otherwise disposed of in reliance on this clause (j) since the Original Effective Date (in each case determined as of the date of the applicable sale, transfer, lease or other disposition), (y)
all Partial Transfer Asset Amounts for all Partial Transfer Subsidiaries (if any) and (z) the General Basket Excess Amount shall not exceed 20% of the sum, without duplication, of (A) the amounts referred to in the immediately preceding
clauses (x) and (y) and (B) Consolidated Total Assets as of the last day of the fiscal quarter of Parent most recently ended on or prior to the date of such sale, transfer, lease or other disposition (without giving pro forma effect to
such sale, transfer, lease or other disposition), (ii) no Default shall have occurred and be continuing, (iii) Parent shall be in compliance with the covenant set forth in Section 6.10 as of the end of the fiscal quarter of Parent most
recently ended on or prior to the date of such sale, 

  
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transfer, lease or other disposition, giving pro forma effect to such sale, transfer, lease or other disposition as if it had occurred on the first day of the period of four consecutive fiscal
quarters of Parent ending with such quarter, (iv) all sales, transfers, leases and other dispositions made in reliance on this clause (j) shall have been made for fair value and (v) with respect to each sale, transfer, lease or other
disposition made in reliance on this clause (j) for consideration with a fair value in excess of US$25,000,000, Parent shall have delivered to the Administrative Agent a certificate of a Financial Officer of Parent certifying that all the
requirements set forth in this clause (j) have been satisfied with respect thereto, together with reasonably detailed calculations demonstrating satisfaction of the requirements set forth in subclauses (i) and (iii) above; 

(k) any transfer to Persons other than Parent or a Subsidiary of Equity Interests representing at least 15% of the aggregate
equity in any Subsidiary (after giving effect to such transfer), whether pursuant to a Restricted Payment, a sale of such Equity Interests by the holder or holders thereof or an issuance and sale of Equity Interests by such Subsidiary (any such
transfer being referred to as a “Partial Transfer”; such Subsidiary being referred to as the “Partial Transfer Parent Subsidiary” and, together with its subsidiaries, as the “Partial Transfer
Subsidiaries”; and any Partial Transfer Subsidiary that becomes a Partial Transfer Subsidiary as a result of a Restricted Payment being referred to as a “Partial Transfer Spin-Off
Subsidiary”); provided that at the time of such Partial Transfer and after giving effect thereto, (i) no Default shall have occurred and be continuing, (ii) Parent shall be in compliance with the covenant set forth in
Section 6.10 as of the end of the fiscal quarter of Parent most recently ended on or prior to the date of such Partial Transfer, giving pro forma effect to such Partial Transfer and any related incurrence of Indebtedness as if they had occurred
on the first day of the period of four consecutive fiscal quarters of Parent ended with such quarter, (iii) the sum, without duplication, of (x) the Partial Transfer Asset Amounts for all the Partial Transfer Subsidiaries, (y) the
aggregate book value of all the assets sold, transferred, leased or otherwise disposed of in reliance upon clause (j) of this Section since the Original Effective Date (in each case, determined as of the date of the applicable sale, transfer, lease or other disposition) and (z) the General Basket Excess Amount, shall not exceed 20% of the sum, without
duplication, of (A) the amounts referred to in the immediately preceding clause (y) and (B) Consolidated Total Assets as of the last day of the fiscal quarter of Parent most recently ended on or prior to the date of such Partial Transfer
(without giving pro forma effect to such Partial Transfer), (iv) if such Partial Transfer constitutes a Restricted Payment, the sum, without duplication, of the Partial Transfer EBITDA Amounts for all the Partial Transfer Spin-Off Subsidiaries shall not exceed 20% of Consolidated EBITDA for the period of four consecutive fiscal quarters of Parent most recently ended on or prior to the date of such Restricted Payment (without giving
pro forma effect to such Restricted Payment), (v) if such Partial Transfer constitutes a sale or an issuance and sale of Equity Interests in the Subsidiary, such Partial Transfer shall have been made for fair value, (vi) Parent shall have
delivered to the Administrative Agent a certificate of a Financial Officer, certifying that all the requirements set forth in this clause (k) have been satisfied with respect thereto, together with reasonably detailed calculations demonstrating
satisfaction of the requirements set forth in subclauses (ii), (iii) and (iv) above, and (vii) this clause (k) may not be relied for more than one Partial Transfer (or more than a single series of related Partial Transfers consummated
substantially concurrently); 

  
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 (l) any other sales, transfers and dispositions of assets; provided that
(i) such sales, transfers and dispositions shall be made for fair value, (ii) the aggregate fair value of the assets sold, transferred or disposed in reliance on this clause (l) shall not exceed, in any period of four consecutive
fiscal quarters of Parent, US$50,000,000 (excluding, for purposes of this clause (ii), any portion thereof attributable to the sales, transfers or dispositions of Equity Interests in Excluded Subsidiaries), (iii) to the extent the aggregate fair
value of the assets sold, transferred or disposed since the Original Effective Date in reliance on this clause (l) shall
exceed US$100,000,000 (excluding, for purposes of this clause (iii), any portion thereof attributable to the sales, transfers or dispositions of Equity Interests in Excluded Subsidiaries), (A) the amount of such excess (the aggregate amount of such
excess since the Original Effective Date being referred to as the “General Basket Excess Amount”) shall
reduce availability under clauses (j) and (k) of this Section as set forth therein and (B) in the case of a sale, transfer or disposition resulting in such excess or made at any time thereafter, such sale, transfer or disposition shall
only be permitted under this clause (l) if, at the time thereof, a disposition of assets with the book value equal to the portion of the General Basket Excess Amount attributable to such sale, transfer or other disposition would then be
permitted under subclause (i) of clause (j) of this Section, and (iv) at the time thereof and after giving pro forma effect thereto, no Default shall have occurred and be continuing or would arise therefrom; 

(m) dispositions or transfers by Loan Parties to Subsidiaries that are not Loan Parties of assets with an aggregate fair market
value not to exceed US$75,000,000; 
 (n) dispositions or transfers by any Loan Party in the form of (i) the
contribution or other disposition to a CFC Domestic Holdco or a Foreign Subsidiary of Equity Interests in, or Indebtedness of, any other CFC Domestic Holdco or a Foreign Subsidiary owned directly by such Loan Party in exchange for Equity Interests
in (or additional share premium or paid in capital in respect of Equity Interests in), or Indebtedness of, such CFC Domestic Holdco or Foreign Subsidiary, or a combination of any of the foregoing, and (ii) an exchange of Equity Interests in any
CFC Domestic Holdco or Foreign Subsidiary for Indebtedness of, or of Indebtedness of such CFC Domestic Holdco or Foreign Subsidiary for Equity Interests in, such CFC Domestic Holdco or Foreign Subsidiary; 

(o) Permitted Charitable Contributions; and 

(p) any transactions involving consideration or value of less than US$1,000,000 individually. 

Notwithstanding anything to the contrary in this Section or any other provision of this Agreement, Parent will not, and will not permit any
Subsidiary to, sell, transfer, lease or otherwise dispose of any Equity Interests or other assets if such Equity Interests or other assets represent all or substantially all of the assets of Parent and the Subsidiaries, on a consolidated basis. 

  
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 SECTION 6.09. Use of Proceeds and Letters of Credit; Margin Regulations. (a) Parent
will not, and will not permit any Subsidiary to, use the proceeds of the Loans for any purpose other than for the general corporate purposes of Parent and the Subsidiaries, including working capital, capital expenditures and acquisitions. The
Letters of Credit will be used only to support obligations of Parent and the Subsidiaries. The Borrowers will not request any Borrowing or Letter of Credit, and the Borrowers shall not use, and shall procure that the Subsidiaries and the directors,
officers, employees and agents of Parent or any Subsidiary shall not use, the proceeds of any Borrowing or Letter of Credit (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything
else of value, to any Person in violation of any Anti-Corruption laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the
extent such activities, business or transaction would be prohibited by Sanctions if conducted by a corporation incorporated in the United States or in a European Union member state, or (iii) in any manner that would result in the violation of
any Sanctions applicable to any party hereto. 
 (b) Parent will not, and will not permit any Subsidiary to, use any part of the proceeds of
any Loan, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board of Governors, including Regulations T, U and X. 

SECTION 6.10. Leverage Ratio. Parent will not permit the Leverage Ratio as of the last day of any fiscal quarter to exceed 3.50 to
1.00; provided that upon the consummation of any Material Acquisition that involves payment of cash consideration of at least US$100,000,000 and the written election of Parent to the Administrative Agent (which shall promptly notify the
Lenders), the maximum permitted Leverage Ratio set forth above shall increase to (a) 4.00 to 1.00, with respect to the last day of the fiscal quarter of Parent during which such Material Acquisition is consummated and the last day of the first and
second full fiscal quarters of Parent ending after the date of the consummation of such Material Acquisition (which increase shall be effective as of the date of consummation of such Material Acquisition (including for purposes of determining pro
forma compliance with the covenant set forth in this Section in respect of such Material Acquisition)) and (b) 3.75 to 1.00, with respect to the last day of the third and fourth full fiscal quarters of Parent ending after the date of the
consummation of such Material Acquisition; provided, however, that Parent shall not be permitted to make such an election if Parent has theretofore made such an election unless (i) at least two consecutive full fiscal quarters of
Parent shall have ended since the date of such prior election without an increase being in effect or (ii) the Leverage Ratio as of the last day of at least two consecutive full fiscal quarters ended since the date of such prior election did not
exceed 3.50 to 1.00. 
 SECTION 6.11. Maintenance of Borrowing Subsidiaries as Wholly Owned Subsidiaries. Notwithstanding anything to
the contrary herein, Parent will not permit any Borrowing Subsidiary to cease to be a Wholly Owned Subsidiary; provided that this Section shall not prohibit any merger or consolidation of a Borrowing Subsidiary consummated in accordance with
Section 6.04 or 6.08 so long as the surviving or continuing Person shall be a Wholly Owned Subsidiary that is a Domestic Subsidiary and a Loan Party. 

  
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 ARTICLE VII 

Events of Default 

SECTION 7.01. Events of Default. If any of the following events (“Events of Default”) shall occur: 

(a) any Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement
when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; 

(b) any Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in
clause (a) of this Section) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five Business Days; 

(c) any representation, warranty or statement made or deemed made by or on behalf of Parent or any Subsidiary in or in
connection with any Loan Document or any amendment or modification thereof or waiver thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Loan Document or any amendment or
modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made; 

(d) Parent or any Borrowing Subsidiary shall fail to observe or perform any covenant, condition or agreement contained in
Section 5.02,5.02(a), 5.03 (with respect to
Parent’s or a Borrowing Subsidiary’s existence) or in Article VI; 
 (e) any Loan Party shall fail to
observe or perform any covenant, condition or agreement contained in any Loan Document (other than those specified in clause (a), (b) or (d) of this Section), and such failure shall continue unremedied for a period of 30 days after notice
thereof from the Administrative Agent to Parent (which notice will be given at the request of any Lender); 
 (f) Parent or
any Subsidiary shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable (but after giving effect to any grace period
applicable thereto); 
 (g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its
scheduled maturity or that enables or permits (with or without the giving of notice, but after giving effect to any grace period applicable thereto) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf
or, in the case of any Swap Agreement, the applicable counterparty, or, in the case of a Securitization Transaction, the purchasers or lenders thereunder, to cause such Material Indebtedness to become due, or to require the prepayment, repurchase,

  
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redemption or defeasance thereof, prior to its scheduled maturity or, in the case of any Swap Agreement or Securitization Transaction, to cause the termination thereof; provided that this
clause (g) shall not apply to (i) any secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the assets securing such Indebtedness or (ii) any Indebtedness that becomes due as a result of a voluntary
refinancing thereof; 
 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking
(i) liquidation, reorganization or other relief in respect of Parent or any Material Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or
hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for Parent or any Material Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding
or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 

(i) Parent or any Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking
liquidation (other than any liquidation of a Material Subsidiary permitted under Section 6.04(a)(ii)), reorganization or other
relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition
described in clause (h) of this Section, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for Parent or any Material Subsidiary or for a substantial part of its
assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any corporate action for the purpose of
effecting any of the foregoing; 
 (j) Parent or any Material Subsidiary shall become unable, admit in writing its
inability or fail generally to pay its debts as they become due; 
 (k) one or more judgments for the payment of money in an
aggregate amount in excess of US$100,000,000 (to the extent not covered by insurance) shall be rendered against Parent, any Material Subsidiary or any combination thereof and the same shall remain undischarged for a period of 30 consecutive days
from the date on which payment of such judgment is due during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of Parent or any Material Subsidiary to
enforce any such judgment; 
 (l) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken
together with all other ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect; 

(m) any Guarantee purported to be created under any Loan Document shall cease to be, or shall be asserted by any Loan Party not
to be, in full force and effect, except as expressly provided in Section 9.14; or 

  
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 (n) a Change in Control shall occur; 

then, and in every such event (other than an event with respect to any Borrower described in clause (h) or (i) of this Section), and at any time
thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to Parent, take either or both of the following actions, at the same or different times: (i) terminate
the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part (but ratably as among the Classes of Loans and the Loans of each Class at
the time outstanding), in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest
thereon and all fees and other obligations of the Borrowers accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Borrower; and in case
of any event with respect to any Borrower described in clause (h) or (i) of this Section, the Commitments shall immediately and automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrowers accrued hereunder, shall immediately and
automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. 

SECTION 7.02. CAM Exchange. (a) On the CAM Exchange Date, (i) the Commitments shall automatically and without further act be
terminated as provided in Section 7.01 and (ii) the Revolving Lenders shall automatically and without further act be deemed to have exchanged interests in the Designated Obligations such that, in lieu of the interests of each Revolving Lender
in the particular Designated Obligations that it shall own as of such date and prior to the CAM Exchange, such Revolving Lender shall own an interest equal to such Lender’s CAM Percentage in all the Designated Obligations. Each Revolving Lender
and each Person acquiring a participation from any Revolving Lender as contemplated by Section 9.04 hereby consents and agrees to the CAM Exchange. Each Revolving Lender agrees from time to time to execute and deliver to the Administrative
Agent all instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests and obligations of the Revolving Lenders after giving effect to the CAM Exchange; provided that the
failure of any Revolving Lender to execute and delivery any such instrument or document shall not affect the validity or effectiveness of the CAM Exchange. It is acknowledged and agreed that the foregoing provisions of this paragraph reflect an
agreement entered into solely among the Revolving Lenders (and not any Loan Party) and no consent of any Loan Party shall be required with respect to any action taken by the Revolving Lenders pursuant to such provisions. 

(b) As a result of the CAM Exchange, on and after the CAM Exchange Date, (i) each payment received by an Agent pursuant to any Loan
Document in respect of the Designated Obligations shall be distributed to the Revolving Lenders pro rata in accordance with their respective CAM Percentages (to be redetermined as of each such date of payment or distribution to the extent required
by paragraph (c) below), but giving effect to assignments after the CAM Exchange Date, it being understood that nothing herein shall be construed to prohibit the assignment of a proportionate part of all an assigning Revolving Lender’s
rights and obligations in respect of a single Class of Commitments or Loans, and (ii) clause (d) of the 

  
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definition of Excluded Taxes shall not apply to any Taxes required to be withheld or deducted by an applicable withholding agent from or in respect of payments hereunder to any Recipient that
exceed the Taxes such withholding agent would have been required to withhold or deduct from or in respect of payments to such Recipient had such CAM Exchange not occurred (but only if such Recipient cannot comply with Section 2.17(f) or 2.17(g)
under applicable law). 
 (c) In the event that, on or after the CAM Exchange Date, the aggregate amount of the Designated Obligations shall
change as a result of the making of an LC Disbursement by an Issuing Bank that is not reimbursed by a Borrower, then (i) each Revolving Lender (determined as of the CAM Exchange Date but without giving effect to the CAM Exchange), shall, in
accordance with Sections 2.06(d) and 2.06(e), promptly pay to such Issuing Bank an amount determined in accordance with such Sections on the basis of such Revolving Lender’s Combined Tranche Percentage (determined as of the CAM Exchange Date
but without giving effect to the CAM Exchange) of the amount due from the applicable Borrower in respect of such LC Disbursement, (ii) the Administrative Agent shall redetermine the CAM Percentages after giving effect to such LC Disbursement
and the funding of participations therein by the Revolving Lenders and (iii) in the event distributions shall have been made in accordance with clause (i) of paragraph (b) above, the Revolving Lenders shall make such payments to one
another as shall be necessary in order that the amounts received by them shall be equal to the amounts they would have received had each LC Disbursement been outstanding immediately prior to the CAM Exchange. Each such redetermination shall be
binding on each of the Borrowers and the Revolving Lenders and their successors and assigns and shall be conclusive absent demonstrable error. 

ARTICLE VIII 
 The Agents

 Each of the Lenders and the Issuing Banks hereby irrevocably appoints the entities named as the Administrative Agent and the London
Agent in the heading of this Agreement, and their successors in such capacities, to serve as the Administrative Agent and the London Agent, respectively, under the Loan Documents and authorizes the Agents to take such actions and to exercise such
powers as are delegated to the Agents by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. 

Any Person serving as an Agent hereunder shall have the same rights and powers in its capacity as a Lender or an Issuing Bank as any other
Lender or Issuing Bank and may exercise the same as though it were not an Agent, and such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and
generally engage in any kind of business with Parent or any Subsidiary or other Affiliate thereof as if such Person were not an Agent hereunder and without any duty to account therefor to the Lenders or the Issuing Banks. 

The Agents shall not have any duties or obligations except those expressly set forth in the Loan Documents, and their duties hereunder and under the other Loan Documents shall be administrative in nature. Without limiting the generality of
the foregoing, (a) the Agents shall not be subject to any fiduciary or other implied duties, regardless of whether a 

  
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Default has occurred and is continuing (and it is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference
to the Agents is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law, and that such term is used as a matter of market custom and is intended to create or reflect only
an administrative relationship between contracting parties), (b) the Agents shall not have any duty to take any discretionary action or to exercise any discretionary powers, except discretionary rights and powers expressly contemplated by the Loan
Documents that the Agents are required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the applicable Agent shall believe in good faith to be necessary, under
the circumstances as provided in Section 9.02); provided that no Agent shall be required to take any action that, in its opinion, could expose such Agent to liability or be contrary to any Loan Document or applicable law, and
(c) except as expressly set forth in the Loan Documents, the Agents shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to Parent or any Subsidiary or other Affiliate thereof that
is communicated to or obtained by them or any of their Affiliates in any capacity. The Agents shall not be liable for any action taken or not taken by them with the consent or at the request of the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary, or as the applicable Agent shall believe in good faith to be necessary, under the circumstances as provided in Section 9.02) or in the absence of their own gross negligence or willful misconduct
(such absence to be presumed for purposes of this Article VIII unless otherwise determined by a court of competent jurisdiction by a final and nonappealable judgment). Each Agent shall be deemed not to have knowledge of any Default unless and until
written notice thereof (stating that it is a “notice of default”) is given to such Agent by Parent or a Lender, and no Agent shall be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with any Loan Document, including any representation by any Incremental Lender in any Incremental Facility Agreement (it being understood and agreed that each Agent may rely, and shall incur no liability for
relying, upon such representation), (ii) the contents of any certificate, report or other document delivered thereunder or in connection therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or
conditions set forth in any Loan Document or the occurrence of any Default, (iv) the sufficiency, validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document or (v) the
satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to such Agent, or satisfaction of any condition that expressly refers to the matters
described therein being acceptable or satisfactory to such Agent. Notwithstanding anything herein to the contrary, the Agents shall not have any liability arising from any confirmation of any Revolving Credit Exposure or the component amounts
thereof, any determination of the Exchange Rate, the LC Exchange Rate or the US Dollar Equivalent or any determination of any rate that reflects the costs to any Lenders of making or maintaining any Loans as contemplated by Section 2.14.

 Each Agent shall be entitled to rely, and shall not incur any liability for relying, upon any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper
Person (including, if applicable, a Financial Officer). Each Agent also may rely, and shall 

  
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not incur any liability for relying, upon any statement made to it orally or by telephone and believed by it to be made by the proper Person (including, if applicable, a Financial Officer), and
may act upon any such statement prior to receipt of written confirmation thereof. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, amendment, extension or renewal of a Letter of Credit, that by its
terms must be fulfilled to the satisfaction of a Lender or an Issuing Bank, the Administrative Agent may presume that such condition is satisfactory to such Lender or such Issuing Bank unless the Administrative Agent shall have received notice to
the contrary from such Lender or such Issuing Bank sufficiently in advance to the making of such Loan or the issuance, amendment, extension or renewal of such Letter of Credit. Each Agent may consult with legal counsel (who may be counsel for any
Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

Each Agent may perform any of and all its duties and exercise its rights and powers hereunder or under any other Loan Document by or through
any one or more sub-agents appointed by it. Each Agent and any such sub-agent may perform any of and all its duties and exercise its rights and powers through their
respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of each Agent and any such sub-agent,
and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as the Administrative Agent or the London Agent, as applicable. No Agent shall be responsible for
the negligence or misconduct of any sub-agent except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that such Agent acted with gross negligence or willful
misconduct in the selection of such sub-agent. 
 Subject to the terms of this paragraph, each Agent
may resign at any time by notifying the Lenders, the Issuing Banks and Parent. Upon receipt of any such notice of resignation, the Required Lenders (in the case of a resignation of the Administrative Agent) or the Administrative Agent (in the case
of a resignation by the London Agent) shall have the right, in consultation with Parent, to appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the
retiring Agent gives notice of its resignation, then the retiring Agent may, on behalf of the Lenders and the Issuing Banks, appoint a successor Agent, which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. If
any Agent shall be a Defaulting Lender pursuant to clause (e) of the definition of such term, the Required Lenders may, to the extent permitted by applicable law, by notice in writing to Parent and such Agent remove such Agent in its capacity
as such and, in consultation with Parent, appoint a successor. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the
retiring or removed Agent, as the case may be, and such retiring or removed Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents. The fees payable by the Borrowers to a successor Agent shall be the
same as those payable to its predecessor unless otherwise agreed between the Borrowers and such successor. Notwithstanding the foregoing, in the event (a) no successor Agent to a retiring Agent shall have been so appointed and shall have
accepted such appointment within 30 days after the retiring Agent gives notice of its intent to resign, the retiring 

  
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 Agent may give notice of the effectiveness of its resignation to the Lenders, the Issuing Banks and Parent or
(b) no successor to a removed Agent shall have been so appointed and shall have accepted such appointment by the day that is 30 days following of the issuance of a notice of removal, the removal shall become effective on such 30th day, and on
the date of effectiveness of such resignation or removal, as the case may be, (i) the retiring or removed Agent shall be discharged from its duties and obligations hereunder and under the Loan Documents, and (ii) the Required Lenders shall
succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Agent; provided that (A) all payments required to be made hereunder or under any other Loan Documents to the retiring or removed
Agent for the account of any Person other than such Agent shall be made directly to such Person and (B) all notices and other communications required or contemplated to be given or made to the retiring or removed Agent shall also directly be
given or made to the other Agent, and each Lender and each Issuing bank. After an Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Article and Section 9.03 shall continue in effect for the
benefit of such retiring or removed Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Agent. 

In case of the pendency of any proceeding with respect to any Loan Party under
any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, each Agent (irrespective of whether the principal of any Loan or any LC Disbursement shall then be due and payable as herein expressed or
by declaration or otherwise and irrespective of whether such Agent shall have made any demand on any Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise: 

(a) to file and prove a claim for the whole amount of the
principal and interest owing and unpaid in respect of the Loans, LC Exposure and all other obligations under the Loan Documents that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims
of the Lenders, the Issuing Banks and such Agent (including any claim under Sections 2.12, 2.13, 2.15, 2.16, 2.17 and 9.03) allowed in such judicial proceeding; and 

(b) to collect and receive any monies or other property
payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such proceeding is hereby authorized by each Lender and each Issuing Bank to make
such payments to such Agent and, in the event that such Agent shall consent to the making of such payments directly to the Lenders or the Issuing Banks, to pay to such Agent any amount due to it, in its capacity as Agent, under the Loan Documents
(including under Section 9.03). Nothing contained herein shall be deemed to authorize any Agent to authorize or consent to or accept or adopt on behalf of any Lender or any Issuing Bank any plan of reorganization, arrangement, adjustment or
composition affecting the obligations or the rights of any Lender or Issuing Bank, or to vote in respect of the claim of any Lender or Issuing Bank in any such proceeding. 

  
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 Each Lender and Issuing Bank
acknowledges and agrees that the extensions of credit made hereunder are commercial loans and letters of credit and not investments in a business enterprise or securities. Each Lender
and Issuing Bank further represents that it is engaged in making, acquiring or holding commercial loans and letters of credit in the ordinary course of its business and that it has,
independently and without reliance upon either Agent, any Arranger, any Manager or any other Lender or Issuing Bank,
or any of the Related Parties of any of the foregoing, and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and Issuing Bank also acknowledges
that it will, independently and without reliance upon either Agent, any Arranger, any Manager or any other Lender or
Issuing Bank, or any of the Related Parties of any of the foregoing, and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon
this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 
 Each Lender
and Issuing Bank, by delivering its signature page to this Agreement and, in the case of any Lender, funding its Loans on the Original Effective Date, or delivering its signature page to an Assignment and Assumption, an Incremental Facility Agreement or an Issuing Bank Agreement pursuant to which it shall become a Lender or an Issuing Bank, as
the case may be, hereunder, shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be delivered to, or be approved by or satisfactory to, the Administrative Agent or the
Lenders on the Original Effective Date. 

Notwithstanding anything herein to the contrary, no Arranger, Manager,
Syndication Agent or Documentation Agent shall have any duties or obligations under this Agreement or any other Loan Document (except in its capacity, as applicable, as a Lender or an Issuing
Bank), but all such Persons shall have the benefit of the expense reimbursement and indemnities to the extent provided for hereunder. 

ARTICLE IX  

Miscellaneous 
 SECTION
9.01. Notices. (a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph (b) of this Section), all notices and other communications provided for herein shall be
in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail, sent by facsimile or sent by email, as follows: 

(i) if to Parent, to it at 141400 1st Avenue, Needham Street, Newton, MA 02464,02494, Attention of Office of the General Counsel, (Facsimile No. (617) 830-0770, email: skalvert@tripadvisor.com) and if to any Borrowing Subsidiary, to it in care of Parent as set forth above; 

(ii) if to the Administrative Agent or the Swingline Lender, to JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 500
Stanton Christiana Road, Ops 

  
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 2 Floor 3, Newark, Delaware 19713, Attention of Jessie Qian Jiang (Facsimile No. (302) 634-3301,
email: qian.jiang@jpmorgan.com), with a copy to JPMorgan Chase Bank, N.A., 383 Madison Avenue, 24th Floor, New York, NY 10179, Attention of Peter Thauer (Facsimile No. (212) 270-5127, email: Peter.Thauer@jpmorgan.com); 

(iii) if to the London Agent, to J.P. Morgan Europe Limited, Loans Agency 6th Floor, 25 Bank Street, Canary Wharf, London E14
5JP, United Kingdom, Attention of Loans Agency (Facsimile No. 44-20-7777-2360, email: nicole.johnson@jpmorgan.com), with a copy to the Administrative Agent as provided under clause (ii) above; 

(iv) if to any Issuing Bank, to it at the address (or email or facsimile number) most recently specified by it in a notice
delivered to the Administrative Agent and Parent; and 
 (v) if to any other Lender, to it at its address (or email or
facsimile number) set forth in its Administrative Questionnaire. 
 Notices sent by hand or overnight courier service, or mailed by
certified or registered mail, shall be deemed to have been given when received, and notices sent by facsimile or email shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, notices
shall be deemed to have been given at the opening of business on the next Business Day for the recipient); and notices delivered through electronic communications as provided in paragraph (b) of this Section shall be effective as provided in
such paragraph. 
 (b) Notices and other communications to the Lenders and the Issuing Banks hereunder may be delivered or furnished by
electronic communications (including email and Internet and intranet websites) or using Electronic Systems pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not
apply to notices under Article II to any Lender or Issuing Bank if such Lender or Issuing Bank, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication or using Electronic Systems. Any notices or other communications to any Agent, Parent or any Borrowing Subsidiary may be delivered or furnished by electronic communications pursuant to
procedures approved by the recipient thereof prior thereto; provided that approval of such procedures may be limited or rescinded by any such Person by notice to each other such Person.

 (c) Each Borrowing Subsidiary hereby irrevocably appoints Parent as its agent for the purpose of receiving or giving on its behalf
any notice and taking any other action provided for in this Agreement and any other Loan Document and hereby agrees that it shall be bound by any such notice or action received, given or taken by Parent hereunder or thereunder irrespective of
whether or not any such notice shall have in fact been authorized by such Borrowing Subsidiary and irrespective of whether or not the agency provided for herein or therein shall have theretofore been terminated. 

(d) Any party hereto may change its address or facsimile number for notices and other communications hereunder by notice to the other parties
hereto. 

  
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 (e) The Borrowers agree that the Agents may, but shall not be obligated to, make any
Communication by posting such Communication on Debt Domain, Intralinks, Syndtrak, ClearPar or a substantially similar electronic transmission system (the “Platform”). The
Platforman Electronic System. Any Electronic System used by the Agents is provided “as is” and
“as available”. None of the Agents or any of their Related Parties warrants, or shall be deemed to warrant, the adequacy of the Platformany Electronic System and the Agents expressly disclaim liability for errors or omissions in the Communications. No warranty of any
kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made, or shall be deemed to be made, by the
Agents or any of their Related Parties in connection with the Communications or the Platformany
Electronic System. In no event shall any Agent or any of its Related Parties have any liability to any
BorrowerLoan Party, any Lender, any
Issuing Bank or any other Person for damages of any kind, including direct or indirect, special, incidental or, consequential or punitive damages, losses or expenses (whether in tort, contract or otherwise) arising out of any BorrowerLoan Party’s or any Agent’s transmission of Communications through the Platforman Electronic System. 

SECTION 9.02. Waivers; Amendments. (a) No failure or delay by either Agent, any Issuing Bank or any Lender in exercising any right
or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any
other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Agents, the Issuing Banks and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights
or remedies that they would otherwise have. No waiver of any provision of any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this
Section, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. Without limiting the generality of the foregoing, the execution and delivery of this Agreement, the making of a
Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether either Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default at the time. 

(b) Except as provided in Sections 2.09(d), 2.21 and 9.12,9.12 and the definition of the term LC Commitment, neither any Loan Document nor any provision thereof may be waived, amended or
modified except, in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by Parent and the Required Lenders, or, in the case of any other Loan Document, pursuant to an agreement or agreements in writing entered
into by the Administrative Agent and the Loan Party or Loan Parties that are party thereto, in each case with the consent of the Required Lenders; provided that (i) any provision of this Agreement or any other Loan Document may be
amended by an agreement in writing entered into by Parent and the Administrative Agent to cure any ambiguity, omission, defect or inconsistency so long as, in each case, the Lenders shall have received at least 10 Business Days’ prior written
notice thereof and the Administrative Agent shall not have received, within 10 Business Days of the date of such notice to the Lenders, a written notice from the Required Lenders stating that the Required Lenders object to such amendment and
(ii) no such agreement shall (A) increase the 

  
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 Commitment of any Lender without the written consent of such Lender, (B) reduce the principal amount of any
Loan or LC Disbursement or reduce the rate of interest thereon (other than as a result of any waiver of any increase in the interest rate applicable to any Loan or LC Disbursement pursuant to Section 2.13(c) or any change in the definition, or
in any components thereof, of the term “Leverage Ratio”), or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, (C) postpone the scheduled maturity date of any Loan, or the date of any
scheduled amortization installment of the principal amount of any Incremental Term Loan as set forth in the applicable Incremental Facility Agreement, or the required date of reimbursement of any LC Disbursement, or any date for the payment of any
interest or fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, or waive, amend or modify Section 7.01(a), without the written consent of each Lender
affected thereby, (D) change Section 2.18(b) or 2.18(c) in a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender, (E) change any of the provisions of this Section or the
percentage set forth in the definition of the term “Required Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders (or Lenders of any Class) required to waive, amend or modify any rights
thereunder or make any determination or grant any consent thereunder, without the written consent of each Lender (or each Lender of such Class, as the case may be), provided that, as set forth in Section 2.21 or with the consent of the
Required Lenders, the provisions of this Section and the definition of the term “Required Lenders” may be amended to include references to any new class of loans or commitments created under this Agreement (or to lenders extending such
loans or commitments) on substantially the same basis as the corresponding references relating to the existing Classes of Loans, Commitments or Lenders, (F) release Guarantees representing all or substantially all the value of the Guarantees
under the Guarantee Agreement, or limit the liability of Parent or any Subsidiary Loan Parties in respect of such Guarantees, without the written consent of each Lender, (G) change any provision of any Loan Document in a manner that by its
terms adversely affects the rights in respect of payments of Revolving Lenders of any Class differently from Revolving Lenders of any other Class, without the written consent of Lenders representing a Majority in Interest of the adversely affected
Class of Revolving Loans, (H) change any provision of any Loan Document in a manner that by its terms adversely affects the rights in respect of payments of Lenders of any Class differently from Lenders of any other Class, without the written
consent of Lenders representing a Majority in Interest of each adversely affected Class (for purposes of this clause (H), all the Revolving Lenders shall be deemed to be Lenders of the same Class) or (I) waive any condition set forth in
Section 4.02 or 4.03 without the written consent of the Majority in Interest of the Revolving Lenders and, in the case of any such waiver affecting one Class of Revolving Lenders but not the other, a Majority in Interest of the Revolving
Lenders of such Class (it being understood and agreed that any amendment or waiver of, or any consent with respect to, any provision of this Agreement (other than any waiver expressly relating to Section 4.02 or 4.03) or any other Loan
Document, including any amendment of any affirmative or negative covenant set forth herein or in any other Loan Document or any waiver of a Default or an Event of Default, shall not be deemed to be a waiver of any condition set forth in
Section 4.02 or 4.03); provided further that (1) no such agreement shall amend, modify or otherwise affect the rights or obligations of either Agent, any Issuing Bank or the Swingline Lender without the prior written consent
of such Agent, such Issuing Bank or the Swingline Lender, as the case may be, and (2) any amendment, waiver or other modification of this Agreement that by its terms affects the rights or duties under this 

  
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 Agreement of the Lenders of one or more Classes (but not the Lenders of any other Class) may be effected by an
agreement or agreements in writing entered into by Parent and the requisite percentage in interest of Lenders under each affected Class of Lenders that would be required to consent thereto under this Section if such Class of Lenders were the only
Class of Lenders hereunder at the time. Notwithstanding the foregoing, (i) no consent with respect to any amendment, waiver or other modification of this Agreement or any other Loan Document shall be required of any Defaulting Lender, except
with respect to any amendment, waiver or other modification referred to in clause (A), (B) or (C) of clause (ii) of the first proviso of this paragraph and then only in the event such Defaulting Lender shall be affected by such
amendment, waiver or other modification, and (ii) any provision of this Agreement may be amended by an agreement in writing entered into by Parent, the Administrative Agent (and, if their rights or obligations are affected thereby, each Issuing
Bank and the Swingline Lender) and the Lenders that will remain parties hereto after giving effect to such amendment if (x) by the terms of such agreement the Commitment of each Lender not consenting to the amendment provided for therein shall
terminate upon the effectiveness of such amendment, (y) at the time such amendment becomes effective, each Lender not consenting thereto receives payment in full of the principal of and interest accrued on each Loan made by it and all other
amounts owing to it or accrued for its account under this Agreement and (z) after giving effect to such amendment and all contemporaneous repayments of Revolving Loans and reductions of Revolving Commitments, the sum of the total Revolving
Credit Exposures under each Tranche shall not exceed the total Commitments under such Tranche. Any amendment or modification effected in accordance with this paragraph will be binding on each Borrowing Subsidiary whether or not such Borrowing
Subsidiary shall have consented thereto. 
 (c) The Administrative Agent may, but shall have no obligation to, with the written concurrence of any Lender, execute amendments, waivers or other modifications on behalf of such Lender. Any amendment, waiver
or other modification effected in accordance with this Section 9.02 shall be binding upon each Person that is at the time thereof a Lender and each Person that subsequently becomes a Lender. 

SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrowers shall pay (i) all reasonable out-of-pocket expenses
incurred by the Agents, the Arrangers, the Managers and their Affiliates, including the reasonable fees, charges and
disbursements of one firm of counsel for the Agents and, if deemed reasonably necessary by the Agents, one firm of local counsel in each appropriate jurisdiction, in connection with the arrangement and the syndication of the credit facilities
provided for herein, the preparation, execution, delivery and administration of the Loan Documents or any amendments, modifications or waivers of the provisions thereof (whether or not the transactions contemplated hereby or thereby shall be
consummated), (ii) all reasonable out-of-pocket expenses incurred by any Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket
expenses incurred by the Agents, any Arranger, any Manager, any Syndication Agent, any Documentation Agent, any
Issuing Bank or any Lender, including the fees, charges and disbursements of any counsel for the Agents, any Arranger, any Manager, any Issuing Bank, any Syndication Agent, any Documentation Agent or any Lender, in connection with the enforcement or protection of its rights in connection with the Loan Documents, including its rights under this
Section, or in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

  
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 (b) The Borrowers shall indemnify the Agents (and any sub-agent thereof), the Arrangers, the Managers, each Syndication Agent, each Documentation Agent, each Issuing Bank and each Lender, and each Related Party of any of
the foregoing Persons (each such Person being called an “Indemnitee”), against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with or as a result of (i) the arrangement and the syndication of the credit facilities provided for herein, the
preparation, execution, delivery and administration of the Loan Documents or any agreement or instrument contemplated thereby, the performance by the parties thereto of their respective obligations thereunder or the consummation of the Transactions
or any other transactions contemplated thereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by any Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented
in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials at, under, on or from any property currently or formerly owned or operated by
Parent or any of the Subsidiaries, or any Environmental Liability related in any way to Parent or any of the Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing,
whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto and regardless of whether such matter is initiated by a third party or by Parent or any Affiliate thereof; provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from
the gross negligence or willful misconduct of such Indemnitee. This Section 9.03(b) shall not apply with respect to Taxes, other than Taxes that represent losses, claims, damages, liabilities or expenses incurred in connection with a non-Tax
claim. 
 (c) To the extent that the Borrowers fail to pay any amount required to be paid by them to either Agent (or any sub-agent
thereof), any Issuing Bank or the Swingline Lender, or any Related Party of any of the foregoing, under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to such Agent (or any such sub-agent), such Issuing Bank, the
Swingline Lender or such Related Party, as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the
unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against such Agent (or such sub-agent), such Issuing Bank or the Swingline Lender in its capacity as such, or
against any Related Party of any of the foregoing acting for either Agent (or any such sub-agent), any Issuing Bank or the Swingline Lender in connection with such capacity; provided further that, with respect to such unpaid amounts
owed to any Issuing Bank or the Swingline Lender in its capacity as such, or to any Related Party of any Issuing Bank or the Swingline Lender acting in connection with such capacity, only the Revolving Lenders shall be required to pay such unpaid
amounts. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the total Revolving Credit Exposures, unused Revolving Commitments and, except for 

  
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 purposes of the immediately preceding proviso, the outstanding Incremental Term Loans and unused Incremental Term
Commitments, in each case at the time (or most recently outstanding and in effect); provided that the Swingline Exposure of any Lender that is the Swingline Lender shall be deemed to exclude that portion of its Swingline Exposure that exceeds
its Combined Tranche Percentage of the aggregate principal amount of all outstanding Swingline Loans, and the unused Revolving Commitment of such Lender shall be determined without regard to any such excess amount. 

(d) To the extent permitted by applicable law, the Borrowers shall not assert, or permit any of their Affiliates or Related Parties to assert,
and each hereby waives, any claim against any Indemnitee (i) for any damages arising from the use by others of information or other materials obtained through telecommunications, electronic or other information transmission systems (including
the Internet and Electronic Systems) or (ii) on any theory of liability, for special, indirect, consequential or punitive
damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any Loan Document or any agreement or instrument contemplated thereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds
thereof. 
 (e) All amounts due under this Section shall be payable not later than 10 days after written demand therefor. 

SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of any Issuing Bank that issues any Letter of Credit), except that (i) except
as expressly permitted under Section 6.04(a), neither Parent nor any Borrowing Subsidiary may assign or otherwise transfer any of its rights or obligations hereunder without the prior
written consent of each Lender (and any attempted assignment or transfer by any of them without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance
with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of any Issuing Bank
that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section), the Arrangers, the Managers, the Syndication Agents, the Documentation Agents and, to the extent expressly contemplated hereby, the sub-agents of the Agents and the Related Parties of any of the Agents, the Arrangers, the Managers, the Syndication Agents, the Documentation Agents, the Issuing Banks and the Lenders) any legal or equitable right,
remedy or claim under or by reason of this Agreement. 
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any
Lender may assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent
not to be unreasonably withheld or delayed) of: 
 (A) Parent; provided that no consent of Parent shall be required
for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee; provided further that 

  
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Parent shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within 10 Business Days after having received written
notice thereof; 
 (B) the Administrative Agent; provided that no consent of the Administrative Agent shall be
required for (1) any assignment in respect of the US Tranche to a US Tranche Revolving Lender, an Affiliate of such Lender or an Approved Fund of such Lender, (2) any assignment in respect of a European Tranche to a European Tranche
Revolving Lender, an Affiliate of such Lender or an Approved Fund of such Lender or (3) any assignment of any Incremental Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund; 

(C) each Issuing Bank, in the case of any assignment of all or a portion of a Revolving Commitment or any Lender’s
obligations in respect of its LC Exposure; and 
 (D) the Swingline Lender, in the case of any assignment of all or a portion
of a Revolving Commitment or any Lender’s obligations in respect of its Swingline Exposure. 
 (ii) Assignments shall be subject to the
following additional conditions: 
 (A) except in the case of an assignment to a Lender, an Affiliate of a Lender or an
Approved Fund or an assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date
the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than US$5,000,000 unless each of Parent and the Administrative Agent otherwise consents; provided that (x) no such
consent of Parent shall be required if an Event of Default has occurred and is continuing and (y) Parent shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent
within 10 Business Days after having received written notice thereof; 
 (B) each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement; provided that this clause (B) shall not be construed to prohibit the assignment of a proportionate part of all the
assigning Lender’s rights and obligations in respect of one Class of Commitments or Loans; 
 (C) the parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption (or an agreement incorporating by reference a form of Assignment and Assumption posted on
the Electronic System), together with a processing and recordation fee of US$3,500; and 

(D) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

  
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 In addition, in connection with each assignment, the assignee shall deliver to the applicable Borrower and the
Applicable Agent all applicable Tax forms required to be delivered by it under Sections 2.17(f) and 2.17(g), including, for the avoidance of doubt, that, if such assignee wishes the HMRC DT Treaty Passport scheme to apply to this Agreement, such
assignee shall provide its scheme reference number and its jurisdiction of tax residence on the date on which it becomes a Lender (if there shall then be a UK Loan Party). 

(iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective
date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the
assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning
Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.03). Any assignment or transfer by a Lender of rights or
obligations under this Agreement that does not comply with this Section 9.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (c) of
this Section. 
 (iv) The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrowers,
shall maintain at one of its offices in the United States a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount (and stated interest) of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive absent demonstrable error, and the Borrowers, the Administrative Agent, the Issuing Banks and the Lenders shall treat each Person whose name is recorded in the Register
pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrowers, any Issuing Bank and any Lender at any reasonable time
and from time to time upon reasonable prior notice. 
 (v) Upon its receipt of a duly completed Assignment and
Assumption (or an agreement incorporating by reference a form of Assignment and Assumption posted on the Electronic System)
executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in this Section and any written
consent to such assignment required by this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that the Administrative Agent shall not be
required to accept such Assignment and Assumption or so record the information contained therein if the Administrative Agent reasonably believes that such Assignment and Assumption lacks 

  
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any written consent required by this Section or is otherwise not in proper form, it being acknowledged that the Administrative Agent shall have no duty or obligation (and shall incur no
liability) with respect to obtaining (or confirming the receipt) of any such written consent or with respect to the form of (or any defect in) such Assignment and Assumption, any such duty and obligation being solely with the assigning Lender and
assignee. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph, and following such recording, unless otherwise determined by the Administrative Agent (such
determination to be made in the sole discretion of the Administrative Agent, which determination may be conditioned on the consent of the assigning Lender and the assignee), shall be effective notwithstanding any defect in the Assignment and
Assumption relating thereto. Each assigning Lender and the assignee, by its execution and delivery of an Assignment and Assumption, shall be deemed to have represented to the Administrative Agent that all written consents required by this Section
with respect thereto (other than the consent of the Administrative Agent) have been obtained and that such Assignment and Assumption is otherwise duly completed and in proper form, and each assignee, by its execution and delivery of an Assignment
and Assumption, shall be deemed to have represented to the assigning Lender and the Administrative Agent that such assignee is an Eligible Assignee. 

(c) (i) Any Lender may, without the consent of the Borrowers, the Administrative Agent, the Issuing Banks or the Swingline
Lender, sell participations to one or more Eligible Assignees (each, a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment of any Class
and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (C) the Borrowers, the Agents, the Issuing Banks and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement
or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement or any
other Loan Document; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in clauses (A) through (F) of
clause (ii) of the first proviso to Section 9.02(b) that directly affects such Participant and requires the approval of all the Lenders or all the affected Lenders (or all the Lenders or all the affected Lenders of a Class). Subject to
paragraph (c)(ii) of this Section, the Borrowers agree that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and limitations therein, including the requirements under Sections 2.17(f)
and 2.17(g) (it being understood that the documentation required under Section 2.17(f) shall be delivered to the participating Lender and the information and documentation required under Section 2.17(g) will be delivered to Parent and
the London Agent)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section, provided that such Participant agrees to be subject to the provisions of Section 2.19 as
though it were an assignee under paragraph (b) of this Section. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of
Section 2.19 with respect to any Participant. To the extent permitted 

  
 120 

 by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender;
provided that such Participant agrees to be subject to Section 2.18(c) as though it were a Lender. 
 (ii) A
Participant shall not be entitled to receive any greater payment under Section 2.15 or 2.17 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the
participation to such Participant is made (A) pursuant to Section 2.18(c) or (B) with Parent’s prior written consent. 

(iii) Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrowers,
maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any
Commitments, Loans, Letters of Credit or its other obligations under this Agreement or any other Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other
obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent demonstrable error, and such Lender shall treat each Person whose name is
recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, no Agent (in its capacity as an Agent) shall have any responsibility
for maintaining a Participant Register. 
 (d) Any Lender may at any time pledge or assign a security interest in all or any portion of its
rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any other central bank having jurisdiction over it, and this Section shall not apply to any such
pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party
hereto. 
 SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan
Documents and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and
delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that either Agent, any Arranger, any Issuing Bank or
any Lender or any Affiliate or Related Party of any of the foregoing, may have had notice or knowledge of any Default or incorrect representation or warranty at the time any Loan Document is executed and delivered or any credit is extended
thereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and

  
 121 

 so long as the Commitments have not expired or terminated. Notwithstanding the foregoing or anything else to the
contrary set forth in this Agreement or any other Loan Document, in the event that, in connection with the refinancing or repayment in full of the credit facilities provided for herein, an Issuing Bank shall have provided to the Administrative Agent
a written consent to the release of the Revolving Lenders from their obligations hereunder with respect to any Letter of Credit issued by such Issuing Bank (whether as a result of the obligations of any Borrower (and any other account party) in
respect of such Letter of Credit having been collateralized in full by a deposit of cash with such Issuing Bank, or being supported by a letter of credit that names such Issuing Bank as the beneficiary thereunder, or otherwise), then from and after
such time such Letter of Credit shall cease to be a “Letter of Credit” outstanding hereunder for all purposes of this Agreement and the other Loan Documents (including for
purposes of determining whether the Borrowers are required to comply with Articles V and VI hereof, but excluding Sections 2.15, 2.16, 2.17 and 9.03 and any expense reimbursement or indemnity provisions set forth in any other Loan
Document), and the Revolving Lenders shall be deemed to have no participations in such Letter of Credit, and no obligations with respect thereto, under Section 2.06(d) or 2.06(e). The
provisions of Sections 2.15, 2.16, 2.17, 2.18(b), 2.18(c), 9.03, 9.09 and 9.10 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the
expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof. 

SECTION 9.06. Counterparts; Integration; Effectiveness; Issuing Banks. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the
parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof, including the commitments of the Lenders and, if applicable, their Affiliates
under the Commitment Letter and any commitment advices submitted by them (but do not supersede any other provisions of the Commitment Letter or any fee letter referred to therein (or any separate letter agreements with respect to fees payable to the
Administrative Agent or any Issuing Bank) that do not by the terms of such documents terminate upon the effectiveness of this Agreement). Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed
by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually executed
counterpart of this Agreement. Each financial institution that shall be party to an Issuing Bank Agreement executed by Parent and the Administrative Agent shall be a party to and an Issuing Bank under this Agreement, and shall have all the rights
and duties of an Issuing Bank hereunder and under its Issuing Bank Agreement. Each Lender hereby authorizes the Administrative Agent to enter into Issuing Bank Agreements. 

SECTION 9.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to 

  
 122 

 
the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof, and the invalidity of a particular
provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties hereto shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provision with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provision. 
 SECTION 9.08. Right of
Setoff. If an Event of Default shall have occurred and be continuing, each Lender and Issuing Bank, and each Affiliate of any of the foregoing, is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable
law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) or other amounts at any time held and other obligations (in whatever currency) at any time owing by such Lender or
Issuing Bank, or by such an Affiliate, to or for the credit or the account of any Borrower against any of and all the obligations then due of the Borrowers now or hereafter existing under this Agreement held by such Lender or Issuing Bank,
irrespective of whether or not such Lender or Issuing Bank shall have made any demand under this Agreement. Each Lender and Issuing Bank agrees to notify Parent and the Administrative Agent promptly after any such setoff and application;
provided that the failure to give notice shall not affect the validity of such setoff and application. The rights of each Lender and Issuing Bank, and each Affiliate of any of the foregoing, under this Section are in addition to other rights
and remedies (including other rights of setoff) that such Lender, Issuing Bank or Affiliate may have. 
 SECTION 9.09. Governing Law;
Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance with and governed by the law of the State of New York. 

(b) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of
the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to
this Agreement or any other Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding shall be heard and
determined exclusively in such New York State or, to the extent permitted by law, in such Federal court; provided that,
notwithstanding the foregoing, (i) each of the parties hereto shall retain the right to bring any such action or proceeding in the courts of any other jurisdiction in connection with the enforcement of any judgment and (ii) nothing in this
Agreement or any other Loan Document shall affect any right that any Agent, any Issuing Bank or any Lender may otherwise have to bring any action or proceeding arising out of or relating to this Agreement or any other Loan Document against any
Subsidiary Loan Party that is a Foreign Subsidiary or any of its properties in the courts of the jurisdiction of its organization or domicile. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 
 (c) Each of
the parties hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or
relating to 

  
 123 

 
this Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by
law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (d) Each party to this
Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other
manner permitted by law. 
 (e) To the extent that any Borrowing Subsidiary has or hereafter may acquire any immunity (sovereign or
otherwise) from any legal action, suit or proceeding, from jurisdiction of any court or from set-off or any legal process (whether service or notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or
otherwise) with respect to itself or any of its property, such Borrowing Subsidiary hereby irrevocably waives and agrees not to plead or claim such immunity in respect of its Obligations under its Borrowing Subsidiary Agreement, this Agreement or
any other Loan Document. 
 (f) Each Borrowing Subsidiary hereby agrees that the waivers set forth in this Section shall have the fullest
extent permitted under the Foreign Sovereign Immunities Act of 1976 of the United States of America and are intended to be irrevocable and not subject to withdrawal for purposes of such Act. 

(g) Each Borrowing Subsidiary hereby irrevocably designates, appoints and empowers Parent, and Parent hereby accepts such appointment, as its
designee, appointee and agent to receive, accept and acknowledge for and on its behalf, and in respect of its property, service of any and all legal process, summons, notices and documents that may be served in any such action or proceeding arising
out of or relating to this Agreement and any other Loan Document. Such service may be made by mailing or delivering a copy of such process to any Borrowing Subsidiary in care of Parent at Parent’s address used for purposes of giving notice
under Section 9.01, and each Borrowing Subsidiary hereby irrevocably authorizes and directs Parent to accept such service on its behalf. 

SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

  
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 SECTION 9.11. Headings. Article and Section headings and the Table of Contents used herein
are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 9.12. Confidentiality. Each of the Agents, the Issuing Banks and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ Related Parties, including accountants, legal counsel and other agents and advisors (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential or shall otherwise be subject to an obligation of confidentiality), (b) to the extent requested by any
Governmental Authority, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder
or any other Loan Document or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as
those of this Section, to (i) any assignee of or Participant (or its advisors) in, or any prospective assignee of or
Participant (or its advisors) in, any of its rights or obligations under this Agreement, other than, in the case of any
such disclosure to a Participant or a prospective Participant, any such Participant or prospective Participant that shall have been identified, or is actually known to the disclosing Person to be an Affiliate of any Person identified, on Schedule
9.12, as such Schedule may be supplemented by Parent from time to time by a writing delivered to the Administrative Agent (it being understood and agreed (x) that Parent (in its reasonable discretion) may only include an additional Person on
Schedule 9.12 if such Person is or is an Affiliate of any Person that engages in a business in competition with Parent and/or any of the Subsidiaries, (y) that no Lender shall have any obligation to determine whether any Participant, or any
prospective Participant, that is not identified on Schedule 9.12 is an Affiliate of any Person identified on such Schedule and (z) the Administrative Agent shall promptly furnish to Lenders a copy of any such supplement received by it) or
(ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to any Borrower and its obligations other than any such counterparty or prospective counterparty that shall have been identified, or is
actually known to the disclosing Person to be an Affiliate of any Person identified, on Schedule 9.12, as such Schedule may be supplemented by Parent from time to time by a writing delivered to the Administrative Agent (it being understood and
agreed (x) that Parent (in its reasonable discretion) may only include an additional Person on Schedule 9.12 if such Person is or is an Affiliate of any Person that engages in a business in competition with Parent and/or any of the
Subsidiaries, (y) that no Lender shall have any obligation to determine whether any counterparty, or any prospective counterparty, that is not identified on Schedule 9.12 is an Affiliate of any Person identified on such Schedule and
(z) the Administrative Agent shall promptly furnish to Lenders a copy of any such supplement received by it), (g) with the consent of Parent, (h) to the extent such Information (i) becomes publicly available other than as a
result of a breach of this Section or (ii) becomes available to either Agent, any Issuing Bank or any Lender on a nonconfidential basis from a source other than any Borrower, (i) to any credit insurance providers or, (j) on a confidential basis to
(i) any rating agency in connection with rating Parent or the Subsidiaries or the credit facilities provided for herein or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers
with respect to the credit facilities provided for herein or (k) to 

  
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 market data collectors, similar service
providers, including league table providers, to the lending industry, in each case, limited to information of the type routinely provided to such providers. For the purposes of this Section,
“Information” means all information received from the Borrowers relating to the Borrowers or their business, other than any such information that is available to either Agent, any Issuing Bank or any Lender on a nonconfidential
basis prior to disclosure by a Borrower; provided that, in the case of information received from a Borrower after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain
the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person
would accord to its own confidential information. 
 SECTION 9.13. Interest Rate Limitation. Notwithstanding anything herein
to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed
the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan
hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the
operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest
thereon at the Federal Funds EffectiveNew York Fed Bank Rate to the date of repayment, shall have been received by such Lender. 
 SECTION 9.14.
Release of Guarantees. (a) If Parent shall request the release of the Guarantee of any Subsidiary Loan Party (i) upon the consummation of any transaction permitted by this Agreement (for the avoidance of doubt, as in effect from
time to time) as a result of which transaction such Subsidiary Loan Party (A) ceases to be a Subsidiary or (B) becomes a Partial Transfer Subsidiary (but, in the case of this clause (B), only if such Subsidiary Loan Party is not a
Guarantor of any other Material Indebtedness of Parent or another Subsidiary) or (ii) upon any Subsidiary Loan Party otherwise ceasing to be a Designated Subsidiary (including because such Subsidiary Loan Party becomes a Specified Foreign
Subsidiary) and, in each case, shall deliver to the Administrative Agent a certificate of a Financial Officer of Parent, in each case of clause (i) above, to the effect that such transaction and, if applicable, the application of the proceeds
thereof will comply with the terms of this Agreement (and, in the event clause (B) is applicable, that the condition set forth in the parenthetical in such clause (B) is satisfied) or, in the case of clause (ii) above, setting forth
details with respect thereto, the Administrative Agent, if satisfied that the applicable certificate is correct, shall execute and deliver to Parent, at Parent’s expense, all documents that Parent shall reasonably request to evidence such
termination or release. 
 (b) Notwithstanding anything to the contrary herein or in any other Loan Document, the Guarantees provided under
the Guarantee Agreement shall terminate when all the Obligations (other than contingent obligations for indemnification, expense reimbursement, tax 

  
 126 

 
gross-up or yield protection as to which no claim has been made) have been indefeasibly paid in full, all Commitments have terminated or expired, the LC Exposure has been reduced to zero and the
Issuing Banks have no further obligations to issue Letters of Credit hereunder. In connection with any such termination pursuant to this paragraph, the Administrative Agent shall execute and deliver to Parent, at Parent’s expense, all documents
that Parent shall reasonably request to evidence such termination. 
 (c) Any execution and delivery of documents by the Administrative
Agent pursuant to this Section shall be without recourse to, or representation or warranty by, the Administrative Agent. 
 SECTION 9.15.
Conversion of Currencies. (a) If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another currency, each party hereto agrees, to the fullest extent that it may
effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately
preceding the day on which final judgment is given. 
 (b) The obligations of each Borrower in respect of any sum due to any party hereto or
any holder of the obligations owing hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due
hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in
accordance with normal banking procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in
the Agreement Currency, such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of the Borrowers contained in this Section 9.15 shall survive
the termination of this Agreement and the payment of all other amounts owing hereunder. 
 SECTION 9.16. USA Patriot Act Notice. Each
Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies each Loan Party that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies each
Loan Party, which information includes the name and address of such Loan Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify such Loan Party in accordance with the USA Patriot Act. 

SECTION 9.17. No Fiduciary Relationship. Parent and each Borrowing Subsidiary, on behalf of itself and its subsidiaries, agrees that in
connection with all aspects of the transactions contemplated hereby and any communications in connection therewith, Parent, the Subsidiaries and their Affiliates, on the one hand, and the Agents, the Arrangers, the Managers, the Lenders, the Issuing Banks and their Affiliates, on the other hand, will have a business relationship that does
not create, by implication or otherwise, any fiduciary duty on the part of the Agents, the Arrangers, the Lenders, the Issuing Banks or their Affiliates, and no such duty will be deemed to have arisen in connection with any such transactions or
communications. Parent and each Borrowing Subsidiary, on behalf of itself and its subsidiaries, acknowledges that each Agent, 

  
 127 

 
each Arranger, each Manager, each Lender and Issuing Bank and their
respective Affiliates may have economic interests that conflict with those of Parent, the Subsidiaries, their equityholders and/or their Affiliates. The Agents, the Arrangers,
the Managers, the Lenders, the Issuing Banks and their Affiliates may be engaged, for their own accounts or the
accounts of customers, in a broad range of transactions that involve interests that differ from those of Parent, the Borrowing Subsidiaries and their Affiliates, and none of the Agents, the Arrangers, the Managers, the Lenders, the Issuing Banks or their Affiliates has any obligation to disclose any of such interests to Parent,
any Borrowing Subsidiary or any of their Affiliates. To the fullest extent permitted by law, Parent and each Borrowing Subsidiary, on behalf of itself and its subsidiaries, hereby waives and releases any claims that it or any of its Affiliates may
have against the Agents, the Arrangers, the Managers, the Lenders, the Issuing Banks and their Affiliates with respect
to any breach or alleged breach of fiduciary duty in connection with any aspect of any lending transaction contemplated hereby. 

SECTION 9.18. Non-Public Information. (a) Each Lender and Issuing Bank acknowledges that all information furnished to it pursuant
to this Agreement by or on behalf of Parent or any Borrowing Subsidiary and relating to Parent, the Subsidiaries or their respective businesses may include material non-public information concerning Parent, the Subsidiaries and their respective
securities, and confirms that it has developed compliance procedures regarding the use of material non-public information and that it will handle such material non-public information in accordance with such procedures and applicable law, including
Federal, state and foreign securities laws. 
 (b) All such information, including requests for waivers and amendments, furnished by Parent,
any Borrowing Subsidiary or the Administrative Agent pursuant to, or in the course of administering, this Agreement will be syndicate-level information, which may contain material non-public information concerning Parent, the Subsidiaries and their
respective securities. Accordingly, each Lender and Issuing Bank represents to Parent, the Borrowing Subsidiaries and the Administrative Agent that it has identified in its Administrative Questionnaire a credit contact who may receive information
that may contain material non-public information in accordance with its compliance procedures and applicable law, including Federal, state and foreign securities laws. 

  
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 SECTION 9.19. Notices under
Existing Credit Agreement. Each Lender that is also a lender under the Existing Credit Agreement hereby consents and agrees that no prior notice shall be required under the Existing Credit Agreement with respect to termination of commitments or
prepayment of loans under the Existing Credit Agreement; provided that notice thereof is given on the Effective Date.Acknowledgement and Consent to Bail-In of EEA
Financial Institutions. Solely to the extent an EEA Financial Institution is a party to this Agreement and notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among or between the
parties hereto, each party hereto acknowledges that any liability of any Agent, any Lender or any Issuing Bank that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the
Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a) the application of any Write-Down and Conversion Powers by an EEA
Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

(b) the effects of any Bail-in Action on any such liability, including, if
applicable, (i) a reduction in full or in part or cancelation of any such liability, (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent
entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any
other Loan Document or (iii) the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority.

  
 129 

 SCHEDULE 2.01 

Commitments 
  

													
	 Lender
	  	European Tranche
Revolving Commitment	 	  	US Tranche
Revolving
Commitment	 	  	Total	 
	 JPMorgan Chase Bank, N.A.
	  	US$	 141,200,000.00	 	  	US$	 0	 	  	US$	 141,200,000.00	 
	 Bank of America, N.A.
	  	US$	 141,200,000.00	 	  	US$	 0	 	  	US$	 141,200,000.00	 
	 BMO Harris Bank N.A.
	  	US$	 141,200,000.00	 	  	US$	 0	 	  	US$	 141,200,000.00	 
	 BNP Paribas
	  	US$	 141,200,000.00	 	  	US$	 0	 	  	US$	 141,200,000.00	 
	 SunTrust Bank
	  	US$	 141,200,000.00	 	  	US$	 0	 	  	US$	 141,200,000.00	 
	 U.S. Bank National Association
	  	US$	 100,000,000.00	 	  	US$	 0	 	  	US$	 100,000,000.00	 
	 Barclays Bank PLC
	  	US$	 88,000,000.00	 	  	US$	 0	 	  	US$	 88,000,000.00	 
	 Morgan Stanley Bank, N.A.
	  	US$	 88,000,000.00	 	  	US$	 0	 	  	US$	 88,000,000.00	 
	 Wells Fargo Bank, National Association
	  	US$	 88,000,000.00	 	  	US$	 0	 	  	US$	 88,000,000.00	 
	 The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	  	US$	 50,000,000.00	 	  	US$	 0	 	  	US$	 50,000,000.00	 
	 Citibank, N.A.
	  	US$	 40,000,000.00	 	  	US$	 0	 	  	US$	 40,000,000.00	 
	 Deutsche Bank AG New York Branch
	  	US$	 40,000,000.00	 	  	US$	 0	 	  	US$	 40,000,000.00	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total
	  	US$	1,200,000,000.00	 	  	US$	 0	 	  	US$	1,200,000,000.00	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 EXHIBIT D 

[FORM OF] COMPLIANCE CERTIFICATE 

[The form of this Compliance Certificate has been prepared for convenience only, and is not to affect, or to be taken into consideration in
interpreting, the terms of the Credit Agreement referred to below. The obligations of the Parent and the Borrowing Subsidiaries under the Credit Agreement are as set forth in the Credit Agreement, and nothing in this Compliance Certificate, or the
form hereof, shall modify such obligations or constitute a waiver of compliance therewith in accordance with the terms of the Credit Agreement. In the event of any conflict between the terms of this Compliance Certificate and the terms of the Credit
Agreement, the terms of the Credit Agreement shall govern and control, and the terms of this Compliance Certificate are to be modified accordingly.] 

Reference is made to the Credit Agreement dated as of June 26, 2015 (as amended, restated, supplemented or otherwise modified from time to
time, the “Credit Agreement”), among TripAdvisor, Inc., a Delaware corporation (“Parent”), the Borrowing Subsidiaries party thereto, the Lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as
Administrative Agent, and J.P. Morgan Europe Limited, as London Agent. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 

The undersigned hereby certifies, in his capacity as a Financial Officer of Parent and not in a personal capacity, as follows: 

1. I am a Financial Officer of Parent. 

2. [[Attached as Schedule I hereto are the][The consolidated financial statements required by Section 5.01(a) of the Credit Agreement as
of the end of and for the fiscal year ended [                    ], setting forth in each case in comparative form the figures for the previous
fiscal year, together with an audit opinion thereon of [KPMG LLP] required by Section 5.01(a) of the Credit Agreement [have been filed by Parent with the SEC with an Annual Report on Form 10-K for the fiscal year ended December 31,
20[    ].] 
 [or] 

[[Attached as Schedule I hereto are the][The consolidated financial statements required by Section 5.01(b) of the Credit Agreement as of
the end of and for the fiscal quarter ended [                    ] and the then elapsed portion of the fiscal year, setting forth in each case in
comparative form the figures for the prior fiscal year [have been filed by Parent with the SEC with a Quarterly Report on Form 10-Q for the fiscal quarter ended
[                    ]]. Such financial statements present fairly, in all material respects, the financial position, results of operations and cash
flows of Parent and its consolidated Subsidiaries as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year on a consolidated basis in accordance with GAAP, subject to normal year-end audit adjustments and the
absence of footnotes.] 
 3. I have reviewed the terms of the Credit Agreement and the other Loan Documents and I have made, or have caused
to be made under my supervision, a review in reasonable detail of the transactions and condition of Parent and the Subsidiaries during the 

 
accounting period covered by the [attached][above-referenced] financial statements. The foregoing examination did not disclose, and I have no knowledge of, (a) the existence of any condition
or event that constitutes a Default during or at the end of the accounting period covered by the [attached][above-referenced] financial statements or as of the date of this Certificate, except as set forth in a separate attachment, if any, to this
Certificate, specifying the details thereof and any action taken or proposed to be taken with respect thereto, or (b) any change in GAAP or in the application thereof since the date of the consolidated balance sheet of Parent most recently
theretofore delivered pursuant to Section 5.01(a) or 5.01(b) of the Credit Agreement (or, prior to the first such delivery, referred to in Section 3.04 of the Credit Agreement), that has had a material effect on the calculation of the Leverage
Ratio, except as set forth in a separate attachment, if any, to this Certificate, specifying the nature of such change and the effect thereof on such calculation. 

4. The financial covenant analysis and other information set forth on Annex A hereto are true and accurate on and as of the date of this
Certificate. 
 [5. Attached as Schedule II hereto is a list of each Designated Subsidiary as of the date of this Certificate.]1 
 The foregoing certifications are made and delivered on
[                    ], pursuant to Section 5.01(c) of the Credit Agreement. 

 

			
	TRIPADVISOR, INC.,
		
	By:	 	  

		 	Name:
		 	Title:

  

	1 	To be provided for annual Compliance Certificate. 

  
 D-2 

 ANNEX A TO 

COMPLIANCE CERTIFICATE 
 FOR THE
FISCAL [QUARTER] [YEAR] ENDED [mm/dd/yy]. 
  

					
	Consolidated Net Income: (i) - (ii) =	  	$[        ,        ,        ]
			
	(i)	  	the net income or loss of Parent and the Subsidiaries for such period determined on a consolidated basis in accordance with GAAP (after giving effect, for the avoidance of doubt, to the elimination of intercompany accounts in
accordance with GAAP):	  	$[        ,        ,        ]
			
	(ii)	  	 the income or loss of any Subsidiary that is not a Wholly

Owned Subsidiary to the extent such income or loss is attributable to the noncontrolling interest in such Subsidiary:
	  	$[        ,        ,        ]
		
	Consolidated EBITDA:2 = (i) + (ii) - (iii) =	  	$[        ,        ,        ]
			
	(i)	  	Consolidated Net Income:	  	$[        ,        ,        ]
			
	(ii)3	  	 (a)    consolidated interest expense for such period:
	  	$[        ,        ,        ]
			
		  	 (b)    consolidated income tax expense for such period:
	  	$[        ,        ,        ]
			
		  	 (c)    all amounts attributable to depreciation and amortization for such
period (excluding, for the
	  	$[        ,        ,        ]

  

	2 	In the event any Subsidiary shall be a Subsidiary that is not a Wholly Owned Subsidiary, all amounts added back in computing Consolidated EBITDA for any period pursuant to clause (ii), and all amounts subtracted in
computing Consolidated EBITDA pursuant to clause (iii), to the extent such amounts are, in the reasonable judgment of a Financial Officer of Parent, attributable to such Subsidiary, shall be reduced by the portion thereof that is attributable to the
noncontrolling interest in such Subsidiary. For the purposes of calculating Consolidated EBITDA for any period of four consecutive fiscal quarters of Parent (each, a “Reference Period”) for the purposes of any determination of the
Leverage Ratio, if during such Reference Period (or, in the case of pro forma calculations, during the period from the last day of such Reference Period to and including the date as of which such calculation is made) Parent or any Subsidiary shall
have made a Material Disposition or Material Acquisition, Consolidated EBITDA for such Reference Period shall be calculated after giving pro forma effect thereto as if such Material Disposition or Material Acquisition had occurred on the first day
of such Reference Period. 

	3 	Items to be set forth without duplication and to the extent deducted in determining Consolidated Net Income. 

							
		  	avoidance of doubt, amortization expense attributable to a prepaid cash item that was paid in a prior period):	  			
			
	(d)	  	all losses for such period on sales or dispositions of assets or attributable to discontinued operations, in each case, outside the ordinary course of business:	  	$	[        ,        ,        	] 
			
	(e)	  	any non-cash charges, costs or expenses for such period, including goodwill and intangible asset impairment charges (excluding, for the avoidance of doubt, any write-down of accounts receivable or any additions to bad debt
expense) and non-cash costs and expenses incurred pursuant to any management equity plan, stock option plan or any other stock subscription or shareholder agreement resulting from the grant of stock options or other equity-based incentives to any
director, officer or employee of Parent or any of the Subsidiaries or incurred pursuant to other stock-settled obligations:	  	$	[        ,        ,        	] 
			
	(f)	  	any restructuring and similar unusual, non-recurring charges, costs and expenses (including, without limitation, severance, relocation or lease termination costs, integration costs, entry into new markets and other business
optimization expenses and any one-time expense relating to enhanced accounting function or other transaction costs) for such period:4	  	$	[        ,        ,        	] 
			
	(g)	  	other extraordinary, unusual or non-recurring charges, costs and expenses for such period (it being understood that items of the type referred to in clause (f) may only be added back pursuant to clause (f) and not this
clause (g)):	  	$	[        ,        ,        	] 
			
	(h)	  	charges for such period recognized on changes in the fair value of contingent consideration payable	  	$	[        ,        ,        	] 

  

	4 	The amount of charges, costs and expenses added back for such period, together with the aggregate amount of all other Capped Adjustments for such period, shall not exceed 15% of Consolidated EBITDA for such period
determined prior to giving effect to any addback for any Capped Adjustments. 

  
 2 

									
		  		  	by, and non-cash charges for such period recognized on changes in the fair value of the noncontrolling interest in any acquiree acquired by, Parent or any Subsidiary in any business combination:	  			
				
		  	(i)	  	any currency translation losses (including any currency hedging losses) for such period:	  	 	$[        ,        ,        ]	 
				
		  	(j)	  	any fees and expenses for such period associated with acquisitions, business combinations, other investments, or dispositions of assets outside the ordinary course of business, and issuances or amendments of equity or debt that are
not prohibited by the Credit Agreement, including, without limitation, the credit facilities established under the Credit Agreement:	  	 	$[        ,        ,        ]	 
				
	(iii)5	  	(a)	  	all gains for such period on sales or dispositions of assets or attributable to discontinued operations, in each case, outside the ordinary course of business:	  	 	$[        ,        ,        ]	 
				
		  	(b)	  	all gains for such period arising from business combinations, including, without limitation, gains on a “bargain purchase” and gains recognized on changes in the fair value of contingent consideration payable by, and gains
recognized on changes in the fair value of the noncontrolling interest in any acquiree acquired by, Parent or any Subsidiary in connection therewith:	  	 	$[        ,        ,        ]	 
				
		  	(c)	  	any extraordinary, unusual or non-recurring gains or income for such period:	  	 	$[        ,        ,        ]	 
				
		  	(d)	  	any currency translation gains (including any currency hedging gains) for such period:	  	 	$[        ,        ,        ]	 
				
		  	(e)	  	any non-cash items of income for such period that represent the reversal of any accrual of charges referred to in clause (ii)(e), (ii)(f) or (ii)(g) above:	  	 	$[        ,        ,        ]	 

  

	5 	Items to be set forth without duplication and to the extent included in determining such Consolidated Net Income. 

  
 3 

					
		  	 (f)     any cash payment made during such period with respect to any
non-cash items added back in computing Consolidated EBITDA for any prior period pursuant to clause (ii)(e) above:
	  	$[        ,        ,        ]
		
	Consolidated Funded Debt:67 (i) + (ii) + (iii) + (iv) =
	  	$[        ,        ,        ]
			
	(i)	  	Indebtedness of the type referred to in clause (a) or (b) of the definition of such term:	  	$[        ,        ,        ]
			
	(ii)	  	disbursements or payments under letters of credit or letters of guaranty in respect of which such Person is an account party, if such disbursements or payments have not been reimbursed within three days (it being understood that
contingent obligations in respect of letters of credit and bank guarantees shall not constitute Consolidated Funded Debt):	  	$[        ,        ,        ]
			
	(iii)	  	purchase money Indebtedness of such Person, including under clause (c) or (d) of the definition of such term (but excluding any earnout or other contingent payment obligations in connection with any acquisition or business
combination):	  	$[        ,        ,        ]
			
	(iv)	  	all Capital Lease Obligations of such Person:	  	$[        ,        ,        ]
		
	Consolidated Net Funded Debt: (i) - (ii) =	  	$[        ,        ,        ]
			
	(i)	  	Consolidated Funded Debt as of such date:	  	$[        ,        ,        ]
			
	(ii)	  	the lesser of (a) the sum of (i) the excess, if any, of (A) Unrestricted Cash of Parent and its Domestic Subsidiaries as of such date over (B) Deferred Merchant Payables of Parent and its Domestic Subsidiaries
as of such date plus (ii) 70% of the excess, if any, of (A) Unrestricted Cash of Foreign Subsidiaries of Parent as of such date over (B) Deferred Merchant Payables of Foreign Subsidiaries of Parent as of such date and (b)
US$700,000,000:	  	$[        ,        ,        ]

  

	6 	Items to represent the sum for Parent and the Subsidiaries without duplication. 

	7 	The Consolidated Funded Debt of any Person shall include the Consolidated Funded Debt of any other Person (including any partnership in which such Person is a general partner) to the extent such Person is liable
therefor as a result of such Person’s ownership interest in or other relationship with such other Person (including a Guarantee thereof), except to the extent the terms of such Consolidated Funded Debt provide that such Person is not liable
therefor. 

  
 4 

							
	Leverage Ratio: (i) / (ii) =	  	$	[        ,        ,        	] 
			
	(i)	  	Consolidated Net Funded Debt as of such date:	  	$	[        ,        ,        	] 
			
	(ii)	  	Consolidated EBITDA for the period of four consecutive fiscal quarters of Parent ended on such date (or, if such date is not the last day of a fiscal quarter of Parent, ended most recently prior to such date):	  	$	[        ,        ,        	] 

  
 5Exhibit 4.1

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase Agreement
(this “Agreement”) is dated as of May 11, 2017, between InsPro Technologies Corporation, a Delaware corporation
(the “Company”), and the investors identified on the signature pages hereto (each, an “Investor”
and collectively, the “Investors”).

 

WHEREAS, the Company entered into
that certain Securities Purchase Agreement, dated as of April 20, 2017, by and between the Company and the investor party thereto
(the “Purchase Agreement”), pursuant to which the investor purchased shares of the Company’s Series C
Preferred Stock, par value $0.001 per share (the “Preferred Stock”), in a private placement to “accredited
investors” (as such term is defined in Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities
Act”));

 

WHEREAS, the Purchase Agreement provides
that after the closing thereunder the Company may sell up to 500,000 additional Shares (as defined in the Purchase Agreement) pursuant
to Other Securities Purchase Agreement (as defined in the Purchase Agreement) to Additional Investors (as defined in the Purchase
Agreement);

 

WHEREAS, this Agreement constitutes
an Other Securities Purchase Agreement as contemplated by the Purchase Agreement; and

 

WHEREAS, subject to the terms and
conditions set forth in this Agreement and pursuant to Section 4(2) of the Securities Act and Rule 506 promulgated thereunder,
the Company desires to issue and sell to each Investor, and each Investor, severally and not jointly, desires to purchase from
the Company certain securities of the Company, as more fully described in this Agreement.

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of
which are hereby acknowledged, the Company and the Investors agree as follows:

 

ARTICLE
I.

DEFINITIONS

 

1.1          Definitions.
In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms shall have
the meanings indicated in this Section 1.1:

 

“2015 10-K” has
the meaning set forth in Section 3.1(j).

 

“2016 10-Q” has
the meaning set forth in Section 3.1(j).

 

“Action” means any
action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition) or investigation
pending or threatened in writing against or affecting the Company, any Subsidiary or any of their respective properties, or the
Common Stock, or any officers, directors or key employees of the Company or any of its Subsidiaries, before or by any court, arbitrator,
governmental or administrative agency,

 

    	 	 	 

     

    

 

regulatory authority (federal, state, county, local or foreign), stock market, stock exchange
or trading facility.

 

“Affiliate” means
any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person, as such terms are used in and construed under Rule 144.

 

“Agreement” has
the meaning set forth in the Preamble to this Agreement.

 

“Basic Amount” has
the meaning set forth in Section 4.15(a).

 

“Bloomberg” means
Bloomberg Financial Markets.

 

“Board of Directors”
or “Board” means the Board of Directors of the Company.

 

“Business Day” means
any day except Saturday, Sunday and any day which is a federal legal holiday or a day on which banking institutions in the State
of New York are authorized or required by law or other governmental action to close.

 

“Bylaws” means the
Bylaws of the Company, as amended through the date hereof.

 

“Certificate of Incorporation”
means the Certificate of Incorporation of the Company, as amended through the date hereof.

 

“Closing” means
the closing of the purchase and sale of the Shares pursuant to Section 2.1.

 

“Closing Date” means
the Business Day immediately following the date on which all of the conditions set forth in Sections 5.1 and 5.2 hereof are satisfied
or waived, or such other date as the parties may agree, provided that such conditions continue to be so satisfied or waived on
such Business Day.

 

“Code” has the meaning
set forth in Section 3.1(m).

 

“Commission” means
the Securities and Exchange Commission.

 

“Common Stock” has
the meaning set forth in the Preamble to this Agreement.

 

“Common Stock Equivalents”
means any securities of the Company or any Subsidiary which entitle the holder thereof to acquire Common Stock at any time, including
without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible into
or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock or other securities that entitle the holder
to receive, directly or indirectly, Common Stock.

 

“Company” has the
meaning set forth in the Preamble to this Agreement.

 

    	 	2 	 

     

    

 

“Company Counsel”
means Morgan, Lewis & Bockius LLP.

 

“Company Deliverables”
has the meaning set forth in Section 2.2(a).

 

“Company Shares”
means the shares of Preferred Stock issued to the Investors by the Company pursuant to this Agreement, including any securities
into which such shares of Preferred Stock may hereafter be reclassified or changed.

 

“Company’s IP”
has the meaning set forth in Section 3.1(r)(i).

 

“Confidential Information”
means trade secrets, confidential information and know-how (including but not limited to ideas, formulae, compositions, processes,
procedures and techniques, research and development information, computer program code, performance specifications, support documentation,
drawings, specifications, designs, business and marketing plans, and customer and supplier lists and related information).

 

“Controlled Group”
has the meaning set forth in Section 3.1(m).

 

“Conversion Shares”
means the shares of Common Stock issuable upon conversion of the Preferred Stock.

 

“Delaware Courts”
means the state and federal courts sitting in the City of Wilmington, State of Delaware.

 

“Disclosure Letter”
means any of the disclosures hereto containing information relating to the Company pursuant to Article III and other provisions
hereof that has been provided to the Investors on the date hereof.

 

“Disclosure Materials”
has the meaning set forth in Section 3.1(h).

 

“DTC” has the meaning
set forth in Section 4.2(c).

 

“Effective Date”
means the date that the Registration Statement filed pursuant to Section 2(a), 2(b) or 2(c) of the Registration Rights Agreement
(as applicable) is first declared effective by the Commission.

 

“Employee Benefit Plan”
has the meaning set forth in Section 3.1(m).

 

“Equivalents”
has the meaning set forth in Section 4.11(a).

 

“ERISA” has the
meaning set forth in Section 3.1(m).

 

“Exchange Act” means
the Securities Exchange Act of 1934, as amended

 

“Excluded Securities”
has the meaning set forth in Section 4.11(b).

 

“Evaluation Date”
has the meaning set forth in Section 3.1(u).

 

    	 	3 	 

     

    

 

“Fundamental Transaction”
means (1) any merger or consolidation of the Company with or into another Person (whether or not the Company is the surviving corporation),
(2) any sale, assignment, transfer, or other disposition of all or substantially all of the Company’s assets in one or a
series of related transactions, (3) the completion of any purchase, tender offer or exchange offer (whether by the Company or another
Person) pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or
property that is accepted by more than 50% of the outstanding shares of Common Stock, or (3) any stock purchase agreement or other
business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme or arrangement) with
another Person whereby such other Person acquires or otherwise gains control of more than 50% of the outstanding shares of Common
Stock (4) any reorganization, recapitalization, or reclassification of the Common Stock or any compulsory share exchange pursuant
to which the Common Stock is effectively converted into or exchanged for other securities, cash or property.

 

“GAAP” means U.S.
generally accepted accounting principles.

 

“Infringe” has the
meaning set forth in Section 3.1(r)(vi).

 

“Intellectual Property”
shall mean any or all of the following and all rights in, arising out of, or associated therewith: (a) all United States, international
and foreign registered patents and applications therefor and all underlying patent rights, reissues, divisions, renewals, extensions,
provisionals, continuations and continuations-in-part thereof; (b) all inventions (whether patentable or not), ideas, processes,
invention disclosures, improvements, trade secrets, proprietary information, know-how, technology, improvements, discoveries, technical
data, customer lists, proprietary processes and formulae, all source and object code, algorithms, architectures, structures, display
screens, layouts, development tools and all documentation and media constituting, describing or relating to the above, including,
without limitation, manuals, memoranda and records; (c) all copyrights, copyrights registrations and applications therefor,
copyrightable material including derivative works, revisions, transformations and adaptations, material that is subject to non-copyright
disclosure protections, and all other works of authorship and designs (whether or not copyrightable), and all other rights corresponding
thereto throughout the world; (d) all trade names, logos, trade dress, common law trademarks and service marks, trademark and service
mark registrations and applications therefor throughout the world; (e) domain names; (f) web sites and related content; (g) intellectual
property rights acquired by license or agreement; (h) damages or benefits derived from any action arising out of or related to
the foregoing, including laws controlling computer and Internet rights; (i) all manuals, documentation and materials relating to
the above; and (j) any equivalent rights to any of the foregoing anywhere in the world.

 

“Investment Amount”
means, with respect to each Investor, the Investment Amount indicated on such Investor’s signature page to this Agreement.

 

“Investor” has the
meaning set forth in the Preamble to this Agreement.

 

“Investor Deliverables”
has the meaning set forth in Section 2.2(b).

 

    	 	4 	 

     

    

 

“Investor Party”
has the meaning set forth in Section 4.7.

 

“License Agreements”
has the meaning set forth in Section 3.1(r)(iv).

 

“Lien” means any
lien, charge, encumbrance, security interest, preemptive or similar rights, right of first refusal or other restrictions of any
kind, other than restrictions on the transfer of securities arising under federal or state securities laws and regulations.

 

“Material Adverse Effect”
means any of (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material
adverse effect on operations (including the results thereof), assets, liabilities, business or condition (financial or otherwise)
of the Company and the Subsidiaries, taken as a whole, or (iii) a material adverse impairment to the Company’s ability to
perform on a timely basis its obligations under any Transaction Document.

 

“Notice of Acceptance”
has the meaning set forth in Section 4.15(b).

 

“Offer” has the
meaning set forth in Section 4.15(a).

 

“Offer Notice” has
the meaning set forth in Section 4.15(a).

 

“Offer Period” has
the meaning set forth in Section 4.15(b).

 

“Offered Securities”
has the meaning set forth in Section 4.15(a).

 

“Person” means an
individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,
joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Per Share Purchase Price”
has the meaning set forth in the Preamble to this Agreement.

 

“Preferred Stock”
has the meaning set forth in the Preamble to this Agreement.

 

“Principal Market”
means the National Association of Securities Dealers, Inc. OTC Bulletin Board.

 

“Proceeding” means
an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such
as a deposition), whether commenced or threatened.

 

“Public Notice Date”
has the meaning set forth in Section 4.15(f).

 

“Purchase Agreement”
has the meaning set forth in the Preamble to this Agreement.

 

“Refused Securities”
has the meaning set forth in Section 4.15(c).

 

    	 	5 	 

     

    

 

“Registrable Securities”
has the meaning set forth in the Registration Rights Agreement.

 

“Registration Statement”
means a registration statement meeting the requirements set forth in the Registration Rights Agreement and covering the resale
by the Investors of the Registrable Securities (as defined therein) to the extent provided for therein.

 

“Registration Rights Agreement”
means the Registration Rights Agreement, dated as of the date of this Agreement, among the Company and the Investors, in the form
of Exhibit A hereto.

 

“Reporting Period”
has the meaning set forth in Section 4.4.

 

“Required Delivery Date”
has the meaning set forth in Section 4.2(e).

 

“Rule 144” means
Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar
rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“SEC Reports” has
the meaning set forth in Section 3.1(h).

 

“Securities” means,
collectively, the Company Shares and the Conversion Shares.

 

“Securities Act”
has the meaning set forth in the Preamble to this Agreement.

 

“Shares” has the
meaning set forth in the Preamble to this Agreement.

 

“Short Sales” include,
without limitation, all “short sales” as defined in Rule 200 of Regulation SHO and include all types of direct and
indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps and similar arrangements (including on
a total return basis), and sales and other transactions through non-US broker dealers or foreign regulated brokers having the effect
of hedging the securities or investment made under this Agreement.

 

“Subsequent Placement”
has the meaning set forth in Section 4.11(a).

 

“Subsequent Placement Agreement”
has the meaning set forth in Section 4.15(c).

 

“Subsequent Placement Documents”
has the meaning set forth in Section 4.15(e).

 

“Subsidiary” means
any “significant subsidiary” as defined in Rule 1-02(w) of the Regulation S-X promulgated by the Commission under the
Exchange Act, including without limitation those entities listed in Exhibit 21 to the Form 10-K.

 

“Trading Day” means
any day on which the Common Stock is traded on the Principal Market, or, if the Principal Market is not the principal trading market
for the Common

 

    	 	6 	 

     

    

 

Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded;
provided that “Trading Day” shall not include any day on which the Common Stock is scheduled to trade on such exchange
or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final hour of trading on
such exchange or market (or if such exchange or market does not designate in advance the closing time of trading on such exchange
or market, then during the hour ending at 4:00:00 p.m., New York City time).

 

“Trading Market”
means whichever of the New York Stock Exchange, the American Stock Exchange, the Nasdaq Global Select Market, the Nasdaq Global
Market, the Nasdaq Capital Market or the Principal Market on which the Common Stock is listed or quoted for trading on the date
in question.

 

“Transaction Documents”
means this Agreement, the Registration Rights Agreement and any other documents or agreements executed in connection with the transactions
contemplated hereunder.

 

“Variable Rate Transaction”
has the meaning set forth in Section 4.13.

 

“VWAP” means, for
any security as of any date, the dollar volume-weighted average price for such security on the Principal Market (or, if the Principal
Market is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market
on which the Common Stock is then traded) during the period beginning at 9:30:01 am., New York City Time, and ending at 4:00:00
p.m., New York City Time, as reported by Bloomberg through its “Volume at Price” function or, if the foregoing does
not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic bulletin
board for such security during the period beginning at 9:30:01 a.m., New York City Time, and ending at 4:00:00 p.m., New York City
Time, as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such
hours, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security
as reported in the “pink sheets” by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If VWAP cannot
be calculated for such security on such date on any of the foregoing bases, the VWAP of such security on such date shall be the
fair market value as mutually determined by the Company and the Investor. If the Company and the Investor are unable to agree upon
the fair market value of such security, then they shall agree in good faith on a reputable investment bank to make such determination
of fair market value, whose determination shall be final and binding and whose fees and expenses shall be borne by the Company.
All such determinations shall be appropriately adjusted for any share dividend, share split or other similar transaction during
such period.

 

    	 	7 	 

     

    

 

ARTICLE
II.

PURCHASE AND SALE

 

2.1      Closing.

 

(a)       Subject
to the terms and conditions set forth in this Agreement, at the Closing, the Company shall issue and sell to the Investors, and
the Investors shall, severally and not jointly, purchase from the Company an aggregate of 150,000 Shares, representing the portion
of the Investors’ Investment Amount (the portion of each Investor’s Investment Amount to be purchased at the Closing
is set forth on such Investor’s signature page hereto). The Closing shall take place at the offices of Morgan, Lewis &
Bockius LLP, 1701 Market Street, Philadelphia, PA 19103 on the Closing Date, or at such other location or time as the parties may
agree.

 

2.2      Closing
Deliveries.

 

(a)      At
the Closing, the Company shall deliver or cause to be delivered to each Investor the following (the “Company Deliverables”):

 

(i)       a
stock certificate representing a number of Company Shares equal to the portion of such Investor’s Investment Amount invested
at the Closing divided by the Per Share Purchase Price, registered in the name of such Investor;

 

(ii)      a
certificate evidencing the formation and good standing of the Company issued by the Secretary of State of Delaware as of a date
within thirty (30) days of the Closing Date;

 

(iii)     a
certified copy of the Certificate of Incorporation as certified by the Secretary of State of the State of Delaware within fifteen
(15) days of the Closing Date;

 

(iv)     a
certificate, executed by the Assistant Secretary of the Company and dated as of the Closing Date, as to (i) the resolutions consistent
with Section 3.1(c) as adopted by the Company’s Board of Directors in a form reasonably acceptable to such Investor, (ii)
the Certificate of Incorporation and (iii) the Bylaws, each as in effect at the Closing;

 

(v)      the
legal opinion of Company Counsel, in substantially the form previously provided to the Investors, addressed to the Investors;

 

(vi)     the
Registration Rights Agreement which the Company is required to execute hereunder, duly executed by the Company; and

 

(vii)    such
other documents relating to the transactions contemplated by this Agreement as such Investor or its counsel may reasonably request.

 

(b)      At
the Closing, each Investor shall deliver or cause to be delivered to the Company the following (the “Investor Deliverables”):

 

    	 	8 	 

     

    

 

(i)       the
portion of its Investment Amount invested at the Closing, in United States dollars and in immediately available funds, by wire
transfer to an account designated in writing by the Company for such purpose attached hereto as Exhibit B; and

 

(ii)      the
Registration Rights Agreement, duly executed by such Investor.

 

ARTICLE
III.

REPRESENTATIONS AND

WARRANTIES

 

3.1     Representations
and Warranties of the Company. The Company hereby makes the following representations and warranties to each Investor:

 

(a)       Subsidiaries.
The Company has no direct or indirect Subsidiaries other than as specified in the SEC Reports. The Company owns, directly or indirectly,
all of the capital stock of each Subsidiary free and clear of any and all Liens except those Liens disclosed in the SEC Reports,
and all the issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable
and free of preemptive and similar rights. The Company or one of its Subsidiaries has the unrestricted right to vote, and (subject
to limitations imposed by applicable law) to receive dividends and distributions on, all capital securities of its Subsidiaries
as owned by the Company or such Subsidiary.

 

(b)       Organization
and Qualification. The Company and each Subsidiary are duly incorporated or otherwise organized, validly existing and in good
standing under the laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite power and
authority to own and use its properties and assets and to carry on its business as currently conducted and as presently proposed
to be conducted, except in each case as would not, individually or in the aggregate, have or reasonably be expected to result in
a Material Adverse Effect. Neither the Company nor any Subsidiary is in violation of any of the provisions of its respective certificate
or articles of incorporation, bylaws or other organizational or charter documents. The Company and each Subsidiary are duly qualified
to conduct its respective businesses and are in good standing as a foreign corporation or other entity in each jurisdiction in
which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure
to be so qualified or in good standing, as the case may be, would not, individually or in the aggregate, have or reasonably be
expected to result in a Material Adverse Effect.

 

(c)       Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by each of the Transaction Documents and otherwise to carry out its obligations thereunder. The execution and delivery of each
of the Transaction Documents by the Company and the consummation by it of the transactions contemplated thereby, including, without
limitation, the issuance of the Securities, have been duly authorized by all necessary corporate action on the part of the Company
and no consent or further corporate action is required by the Company, its Board of Directors or its stockholders in connection
therewith. Each Transaction Document has been (or

 

    	 	9 	 

     

    

 

upon delivery will have been) duly executed by the Company and, when delivered
in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company
in accordance with its terms, except as rights to indemnity and contribution may be limited by state or federal securities laws
or the public policy underlying such laws, and except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general application.

 

(d)       No
Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the
Company of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of the Company’s
or any Subsidiary’s certificate or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict
with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to
others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any
agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding
to which the Company or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or
affected, or (iii) result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction
of any court or governmental authority to which the Company or a Subsidiary is subject (including federal and state securities
laws and regulations and the rules and regulations of the Principal Market), or by which any property or asset of the Company or
a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such as would not, individually or in
the aggregate, have or reasonably be expected to result in a Material Adverse Effect.

 

(e)       Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice
to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other
Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than (i) the
filing with the Commission of one or more Registration Statements in accordance with the requirements of the Registration Rights
Agreement, (ii) filings required by state securities laws, (iii) the filing of a Notice of Sale of Securities on Form D with the
Commission under Regulation D of the Securities Act, (iv) the filings required in accordance with Sections 4.4 (and any related
amendments to, or related prospectus supplements to, the Company’s outstanding registration statements filed on either Form
S-1 or Form SB-2) and 4.6, and (iv) those that have been made or obtained prior to the date of this Agreement. The Company and
its Subsidiaries are unaware of any facts or circumstances which might prevent the Company from obtaining or effecting any of the
registration, application or filings pursuant to this Section 3.1(e).

 

(f)       Issuance
of the Securities. The Company Shares, and the Conversion Shares have been duly authorized and, when issued and paid for in
accordance with the Transaction Documents, will be duly and validly issued, fully paid and nonassessable, and free and clear of
all Liens. The Company has reserved from its duly authorized capital stock the

 

    	 	10 	 

     

    

 

Securities issuable pursuant to this Agreement,
including the Company Shares and the Conversion Shares. The Company Shares, and when issued, the Conversion Shares, will be validly
issued, fully paid and non-assessable and free from all Liens, with the holders being entitled to all rights accorded to a holder
of Preferred Stock or Common Stock, as the case may be. Subject to the accuracy of the representations and warranties of the Investors
in this Agreement, the offer and issuance by the Company of the Securities is exempt from registration under the Securities Act.

 

(g)       Capitalization.
As of the date hereof, the authorized capital stock of the Company consists of 20,000,000 shares of preferred stock, $0.001 par
value per share, of which 3,437,500 shares are designated as Series A Convertible Preferred Stock, and of which as of the date
hereof, 1,276,750 shares are issued and outstanding, 11,000,000 shares are designated as Series B Convertible Preferred Stock,
and of which as of the date hereof, 5,307,212 shares are issued and outstanding, 4,000,000 shares are designated as Series C Convertible
Preferred Stock, and of which as of the date hereof, 1,000,000 shares are issued and outstanding, and 500,000,000 shares of Common
Stock, of which as of the date hereof, 41,354,645 shares are issued and outstanding, 25,535,000 shares are reserved for issuance
pursuant to the conversion of Series A Convertible Preferred Stock into Common Stock, 106,144,240 shares are reserved for issuance
pursuant to the conversion of Series B Convertible Preferred Stock into Common Stock (including the Company Shares), 28,996,980
shares are reserved for issuance pursuant to the Company’s stock option and purchase plans, 25,098,330 shares are reserved
for issuance pursuant to warrants exercisable for shares of Common Stock, 7,600,000 shares are reserved for issuance pursuant to
warrants exercisable for shares of 380,000 shares of Series A Convertible Preferred Stock and 65,000,000 shares are reserved for
issuance pursuant to warrants exercisable for shares of 3,250,000 shares of Series B Convertible Preferred Stock. All of such outstanding
shares are duly authorized and have been, or upon issuance will be, validly issued and are fully paid and nonassessable. Except
as specified in Section 3.1(g) of the Disclosure Letter, no securities of the Company are entitled to preemptive or similar
rights, and no Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate
in the transactions contemplated by the Transaction Documents. Except as specified in Section 3.1(g) of the Disclosure Letter
or the SEC Reports, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities, rights or obligations convertible into or exchangeable for, or giving any Person any right
to subscribe for or acquire, any shares of capital stock, or contracts, commitments, understandings or arrangements by which the
Company or any Subsidiary is or may become bound to issue additional shares of capital stock, or securities or rights convertible
or exchangeable into shares of capital stock. Except as specified in Section 3.1(g) of the Disclosure Letter, the issue
and sale of the Securities will not, immediately or with the passage of time, obligate the Company to issue shares of capital stock
or other securities to any Person (other than the Investors) and will not result in a right of any holder of Company securities
to adjust the exercise, conversion, exchange or reset price under such securities (including, without limitation, under any anti-dilution
or similar provisions).

 

(h)       SEC
Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required
to be filed by it under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the
twelve

 

    	 	11 	 

     

    

 

months preceding the date hereof (or such shorter period as the Company was required by law to file such reports) (the foregoing
materials and all exhibits included therein and financial statements, notes and schedules thereto and documents incorporated by
reference therein being collectively referred to herein as the “SEC Reports” and, together with the Disclosure
Letter, the “Disclosure Materials”) on a timely basis or has timely filed a valid extension of such time of
filing and has filed any such SEC Reports prior to the expiration of any such extension. The Company has made available to the
Investors or their respective representatives true, correct and complete copies of each of the SEC Reports not available on the
EDGAR system (if any). As of their respective dates, the SEC Reports complied in all material respects with the requirements of
the Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder, and none of the
SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated
therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.
The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting
requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing (or amendment,
as applicable). Such financial statements have been prepared in accordance with GAAP, applied on a consistent basis, during the
periods involved, except as may be otherwise specified in such financial statements or the notes thereto, and fairly present in
all material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and
the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial,
year-end audit adjustments or which will not be material, either individually or in the aggregate.

 

(i)       Tax
Status. The Company and each of its Subsidiaries (i) has timely made or filed all foreign, federal and state income and all
other tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has timely paid all taxes
and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports
and declarations, except those being contested in good faith and (iii) has set aside on its books provision reasonably adequate
for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply, except
in each case as would not reasonably be expected to have a Material Adverse Effect. There are no unpaid taxes in any material amount
claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim.

 

(j)       Material
Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements included
in the Company’s Annual Report on Form 10-K for the Year ended December 31, 2015 (“2015 10-K”) and unaudited
financial statements included in the Company’s most recent Quarterly Report on Form 10-Q (“2016 10-Q”),
except as specifically disclosed in a subsequent SEC Report filed prior to the date hereof or in Section 3.1(j) of the Disclosure
Letter, (i) there has been no event, occurrence or development that has had or that would reasonably be expected to result
in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade
payables, accrued expenses and other liabilities incurred in the ordinary course of business consistent with past practice and
(B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or required to be disclosed
in filings made with the Commission, (iii) the

 

    	 	12 	 

     

    

 

Company has not altered its method of accounting or the identity of its auditors,
(iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased,
redeemed, converted or made any agreements to purchase, redeem or convert any shares of its capital stock, (v) the Company has
not sold any assets outside of the ordinary course of business, (vi) the Company has not made any material capital expenditures
and (vi) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company
stock option plans. The Company does not have pending before the Commission any request for confidential treatment of information.
Neither the Company nor any of its Subsidiaries has taken any steps to seek protection pursuant to any bankruptcy law nor does
the Company have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy proceedings or
any actual knowledge of any fact which would reasonably lead a creditor to do so. No event, liability, fact, circumstance, occurrence
or development has occurred or exists, or is reasonably expected to occur or exist, with respect to the Company or its Subsidiaries
or their respective business, properties, operations, assets or condition (financial or otherwise) which has had or could reasonably
be expected to result in a Material Adverse Effect that has not been publicly disclosed at least one Trading Day prior to the date
that this representation is made.

 

(k)       Litigation.
There is no Action which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction
Documents against the Company or the Securities or (ii) except as specifically disclosed in the 2015 10-K and 2016 10-Q, would,
if there were an unfavorable decision, individually or in the aggregate, have or reasonably be expected to result in a Material
Adverse Effect. Neither the Company nor any Subsidiary, nor any director or officer thereof (in his or her capacity as such), is
or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or
a claim of breach of fiduciary duty, except as specifically disclosed in the 2015 10-K and 2016 10-Q. There has not been, and to
the knowledge of the Company, there is not pending any investigation by the Commission involving the Company or any current or
former director or officer of the Company (in his or her capacity as such). The Commission has not issued any stop order or other
order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange Act
or the Securities Act. Except as specified in Section 3.1(k) of the Disclosure Letter, (i) neither the Company nor any Subsidiary
is or, within the last three years, has been the subject of an investigation by any federal, state or local governmental agency
and (ii) there are no claims, actions, suits or proceedings pending or threatened against or involving the Company or its Subsidiaries,
or any assets of the Company or its Subsidiaries, that are reasonably likely to result in a claim for damages in excess of $150,000.

 

(l)       Labor
Relations. No material labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees
of the Company. Neither the Company nor any of its Subsidiaries is a party to any collective bargaining agreement or employs any
member of a union. The Company and its Subsidiaries believe that their relations with their employees are good. No executive officer
(as defined in Rule 501(f) of the Securities Act) of the Company or any of its Subsidiaries has notified the Company or any such
Subsidiary that such officer intends to leave the Company or any such Subsidiary or otherwise terminate such officer’s employment
with the Company or any such Subsidiary. No executive officer of the Company or any of its Subsidiaries is, or is now expected
to be, in violation of any material

 

    	 	13 	 

     

    

 

term of any employment contract, confidentiality, disclosure or proprietary information agreement,
non-competition agreement, or any other contract or agreement or any restrictive covenant, and the continued employment of each
such executive officer does not subject the Company or any of its Subsidiaries to any liability with respect to any of the foregoing
matters. The Company and its Subsidiaries are and have been in compliance with all U.S. federal, state and local laws and regulations
relating to employment and employment practices, terms and conditions of employment and wages and hours, except where the failure
to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

(m)       Employee
Benefits. Section 3.1(m) of the Disclosure Letter sets forth a complete list of all employee benefit plans, pension
plans, stock option, bonus or incentive plans, severance pay plans or agreements, deferred compensation agreements, or any similar
plan, agreement or arrangement that are sponsored or maintained by the Company or any member of a Controlled Group or with respect
to which the Company or any member of the Controlled Group has made or is required to make payments, transfers or contributions
(an “Employee Benefit Plan”). No other corporation, trade, or business exists which would be treated together
with the Company as a single “employer” under the provisions of Section 414(b), (c), (m) or (o) of the Internal
Revenue Code of 1986, as amended (the “Code”). Each Employee Benefit Plan has been and is currently administered
in compliance with its constituent documents and all reporting, disclosure and other requirements of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”), and the Code and any other law applicable to such Employee Benefit
Plan. There are no unfunded obligations of the Company under any retirement, pension, profit-sharing, deferred compensation plan
or similar program, and any employee contributions withheld from payroll have been timely and fully contributed to the appropriate
Employee Benefit Plan as required under ERISA, the Code and applicable law. The Company is not required to make any payments or
contributions to any Employee Benefit Plan pursuant to any collective bargaining agreement or any applicable labor relations law.
The Company has never maintained or contributed to any Employee Benefit Plan providing or promising any health or other non-pension
benefits to terminated employees (other than continuation coverage, at the maximum applicable premium permitted to be charged by
the Company, required under Section 4980B of the Code, or Section 601 of the ERISA). For purposes of this Section 3.1(m),
the term “Controlled Group” used herein means, collectively, any trade or business (whether or not incorporated)
(i) under common control within the meaning of Section 4001(b)(1) of ERISA with the Company or (ii) that, together
with the Company, is treated as a single employer under Section 414(t) of the Code.

 

(n)       Compliance.
Neither the Company nor any Subsidiary (i) is in default under or in violation of (and no event has occurred that has not been
waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the
Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture,
loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is
bound (except to the extent such default or violation has been waived), (ii) is in violation of any judgment, decree or order of
any court, arbitrator or governmental body, or (iii) is or has been in violation of any statute, ordinance, rule or regulation
of any governmental authority, including without limitation all

 

    	 	14 	 

     

    

 

foreign, federal, state and local laws relating to taxes, pollution,
environmental protection, occupational health and safety, product quality and safety or employment and labor matters, except in
each case as would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect.

 

(o)       Environmental
Compliance. The Company and its Subsidiaries (i) has at all times had and now has all environmental approvals, consents, licenses,
permits and orders required to conduct the businesses in which it has been or is now engaged and (ii) has at all times been and
is now in compliance in all material respects with all applicable environmental laws. There are no claims, actions, suits or proceedings
pending or threatened against or involving the Company or its Subsidiaries, or any assets of the Company or its Subsidiaries, under
any of the environmental laws (whether by reason of any failure to comply with any of the environmental laws or otherwise). No
decree, judgment or order of any kind under any of the environmental laws has been entered against the Company or its Subsidiaries.
There are no facts, conditions or situations, whether now or heretofore existing, that could form the basis for any claim against,
or result in any liability of, the Company or its Subsidiaries under any applicable environmental laws.

 

(p)       Regulatory
Permits. The Company and the Subsidiaries possess all certificates, authorizations, licenses and permits issued by the appropriate
federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as described in the SEC
Reports, except where the failure to possess any such certificates, authorizations, licenses or permits would not, individually
or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, and neither the Company nor any Subsidiary
has received any notice of proceedings relating to the revocation or modification of any such certificate, authorization, license
or permit.

 

(q)       Title
to Assets. The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them
that is material to their respective businesses and good and marketable title in all personal property owned or used by them that
is material to their respective businesses, in each case free and clear of all Liens, except for Liens disclosed in the 2015 10-K
or 2016 10-Q or as do not materially affect the value of such property and do not materially interfere with the use made and proposed
to be made of such property by the Company or any of its Subsidiaries. Any real property and facilities held under lease by the
Company or any of its Subsidiaries are held by them under valid, subsisting and, to the Company’s knowledge, enforceable
leases of which the Company and the Subsidiaries are in compliance, except as would not, individually or in the aggregate, have
or reasonably be expected to result in a Material Adverse Effect.

 

(r)       Patents
and Trademarks.

 

(i)       Section
3.1(r) of the Disclosure Letter accurately sets forth all material Intellectual Property that is owned and/or used in the business
of the Company and its Subsidiaries, viewed as a whole, as presently conducted (“Company’s IP”). No Intellectual
Property other than the Company’s IP is material to the business of the Company or any of its Subsidiaries as presently conducted
or as presently proposed to be conducted. The Company or

 

    	 	15 	 

     

    

 

one of its Subsidiaries is the sole and exclusive owner of all right,
title and interest in and to Company’s IP (with no breaks in the chain of title thereof) free and clear of, to its knowledge,
any claim, security interest, lien, pledge, option, charge or encumbrance of any kind whatsoever except as disclosed in the 2015
10-K or 2016 10-Q. Company’s IP has not been used or enforced or failed to be used or enforced in a manner that would result
in the abandonment, cancellation or unenforceability of any of Company’s material rights in and to Company’s IP.

 

(ii)       The
Company has not transferred any rights or interest in, or granted any exclusive license with respect to, any of the Company’s
IP to any third party.

 

(iii)      All
of the Company’s IP is currently in compliance in all material respects with all legal requirements (including timely filings,
proofs and payments of fees) and is, to the Company’s knowledge, valid and enforceable. None of the Company’s IP which
is necessary for the conduct of Company’s and each of its Subsidiaries’ respective businesses as currently conducted
or as currently proposed to be conducted has been or is now involved in any pending or threatened cancellation, dispute or litigation
of which the Company is aware. No patent of the Company or its Subsidiaries has been or is now involved in any interference, reissue,
re-examination or opposition proceeding.

 

(iv)      All
of the licenses and sublicenses and consent, royalty or other agreements concerning Company’s IP which are necessary for
the conduct of the Company’s and each of its Subsidiaries’ respective businesses as currently conducted or as currently
proposed to be conducted to which the Company or any Subsidiary is a party or by which any of their assets are bound (other than
 generally commercially available, non-custom, off-the-shelf software application programs having a retail acquisition price
of less than $25,000 per license) (collectively, “License Agreements”) are valid and binding obligations of
the Company or its Subsidiaries that are parties thereto and, to the Company’s knowledge, the other parties thereto, enforceable
in accordance with their terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or other similar laws affecting the enforcement of creditors’ rights generally, and there
exists no event or condition which, to the Company’s knowledge, will result in a material violation or breach of or constitute
(with or without due notice or lapse of time or both) a default by the Company or any of its Subsidiaries under any such License
Agreement.

 

(v)       The
Company and its Subsidiaries own or have the valid right to use all of the Intellectual Property that is necessary for the operation
of the Company’s and each of its Subsidiaries’ respective businesses as currently conducted or as currently proposed
to be conducted. The Company and its Subsidiaries have a valid and enforceable right to use all third party Intellectual Property
and Confidential Information used or held for use as the Company’s IP.

 

(vi)      To
the best knowledge of the Company, the conduct of the Company’s and its Subsidiaries’ businesses as currently conducted
does not infringe or otherwise impair or conflict with (collectively, “Infringe”) any Intellectual Property
rights of any third party or any confidentiality obligation owed to a third party, and, to the Company’s knowledge, the Company’s
IP which are necessary for the conduct of Company’s and each of its

 

    	 	16 	 

     

    

 

Subsidiaries’ respective businesses as currently
conducted or as currently proposed to be conducted are not being Infringed by any third party. There is no litigation or order
pending or outstanding or, to the Company’s knowledge, threatened or imminent, that seeks to limit or challenge or that concerns
the ownership, use, validity or enforceability of any of the Company’s IP or, to the Company’s knowledge, the Company’s
and its Subsidiaries’ use of any Intellectual Property or Confidential Information owned by a third party, and, to the Company’s
knowledge, there is no valid basis for the same.

 

(vii)       The
consummation of the transactions contemplated hereby and by the other Transaction Documents will not result in the alteration,
loss, impairment of or restriction on the Company’s or any of its Subsidiaries’ ownership or right to use any of the
Company’s IP which is necessary for the conduct of Company’s and each of its Subsidiaries’ respective businesses
as currently conducted or as currently proposed to be conducted.

 

(s)       Insurance.
The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and
in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged. The Company
has no reason to believe that it will not be able to renew its and the Subsidiaries’ existing insurance coverage as and when
such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business on terms
consistent in all material respects with market for similar size companies as the Company and its Subsidiaries for the lines of
business of the Company and its Subsidiaries at a cost that would not have a Material Adverse Effect. Neither the Company nor any
such Subsidiary has been refused any insurance coverage sought or applied for.

 

(t)       Transactions
With Affiliates and Employees. None of the officers or directors of the Company and, to the knowledge of the Company, none
of the employees of the Company is presently a party to any transaction with the Company or any Subsidiary (other than for ordinary
course services as employees, officers and directors), including any contract, agreement or other arrangement providing for the
furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments
to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any officer, director,
or any such employee has a substantial interest or is an officer, director, trustee or partner, which in each case is required
to be disclosed in the SEC Reports and has not been so disclosed.

 

(u)       Sarbanes-Oxley;
Internal Accounting Controls. The Company is in compliance with all provisions of the Sarbanes-Oxley Act of 2002, as amended,
which are applicable to it as of the Closing Date. The Company and each of the Subsidiaries maintain a system of internal accounting
controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general
or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity
with generally accepted accounting principles and to maintain asset and liability accountability, (iii) access to assets or incurrence
of liabilities is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded
accountability for assets and liabilities is compared with the existing assets and liabilities at reasonable intervals

 

    	 	17 	 

     

    

 

and appropriate
action is taken with respect to any differences. The Company has established disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and designed such disclosure controls and procedures so that they are
effective in ensuring that information required to be disclosed by the Company in the reports that it files or submits under the
Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the rules and forms of the Commission,
including, without limitation, controls and procedures designed to ensure that material information relating to the Company, including
its Subsidiaries, is made known to the certifying officers by others within those entities, particularly during the period in which
the Company’s Form 10-K or 10-Q, as the case may be, is being prepared. The Company’s certifying officers have evaluated
the effectiveness of the Company’s controls and procedures as of the end of the period covered by the Company’s most
recently filed periodic report under the Exchange Act (such date, the “Evaluation Date”). The Company presented
in its most recently filed periodic report under the Exchange Act the conclusions of the certifying officers about the effectiveness
of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation Date, there
have been no changes in the Company’s internal control over financial reporting (as such term is defined in the Exchange
Act) that has significantly affected, or is reasonably likely to significantly affect, the Company’s internal control over
financial reporting. Since the Evaluation Date, neither the Company nor any of its Subsidiaries has received any written notice
or correspondence from any accountant relating to any potential material weakness in any part of the system of internal accounting
controls of the Company or any of its Subsidiaries. Additionally, the Company is not in violation of any of the rules, regulations
or requirements of the Principal Market and has no knowledge of any facts or circumstances that could reasonably lead to delisting
or suspension of the Common Stock in the foreseeable future.

 

(v)       Solvency.  Except
as set forth in Section 3.1(v) of the Disclosure Letter, based on the financial condition of the Company as of the date
hereof and as of the Closing Date (assuming that the Closing shall have occurred), (i) the Company’s present fair saleable
value of its assets exceeds the amount that will be required to be paid on or in respect of the Company’s existing debts
and other liabilities (including known contingent liabilities) as they mature, (ii) the Company’s assets do not constitute
unreasonably small capital to carry on its business for the current fiscal year as now conducted and as proposed to be conducted
including its capital needs taking into account the particular capital requirements of the business conducted by the Company, and
projected capital requirements and capital availability thereof, and (iii) the current cash flow of the Company, together with
the proceeds the Company would receive, were it to liquidate all of its assets, after taking into account all anticipated uses
of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when such amounts are required to be paid.  The
foregoing representation and warranty is also true and correct as to the Company and the Subsidiaries on a consolidated basis.
Neither the Company nor any Subsidiary intends to incur debts beyond its or their ability to pay such debts as they mature (taking
into account the timing and amounts of cash to be payable on or in respect of its or their debt).  The Company has no
knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the
bankruptcy or reorganization laws of any jurisdiction within one year from the Closing Date.

 

    	 	18 	 

     

    

 

(w)       Certain
Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial advisor
or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by
this Agreement. The Investors shall have no obligation with respect to any fees or with respect to any claims (other than such
fees or commissions owed by an Investor pursuant to written agreements executed by such Investor which fees or commissions shall
be the sole responsibility of such Investor) made by or on behalf of other Persons for fees of a type contemplated in this Section
3.1(w) that may be due in connection with the transactions contemplated by this Agreement.

 

(x)       Certain
Registration Matters. Assuming the accuracy of the Investors’ representations and warranties set forth in Section 3.2(b)-(e),
no registration under the Securities Act is required for the offer and sale of the Shares by the Company to the Investors under
the Transaction Documents. Except as specified in the Registration Rights Agreement and in Section 3.1(x) of the Disclosure
Letter, no Person has any rights (including “piggy-back” registration rights) to cause the Company to effect the
registration under the Securities Act or any state securities laws of any securities of the Company that have not been satisfied.

 

(y)       Listing
and Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the
Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration
of the Common Stock under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating
such registration. The Company has not, in the two years preceding the date hereof, received notice from any Trading Market to
the effect that the Company is not in compliance with the listing or maintenance requirements thereof. The Company is, and has
no reason to believe that it will not in the foreseeable future continue to be, in compliance with the listing and maintenance
requirements for continued listing of the Common Stock on the Trading Market on which the Common Stock is currently listed or quoted.
The issuance and sale of the Securities under the Transaction Documents does not contravene the rules and regulations of the Trading
Market on which the Common Stock is currently listed or quoted, and no approval of the stockholders of the Company thereunder is
required for the Company to issue and deliver to the Investors the Securities contemplated by Transaction Documents.

 

(z)       Investment
Company. The Company is not, and is not an Affiliate of, and immediately following the Closing will not have become, an “investment
company,” an Affiliate of an “investment company,” a company controlled by an “investment company”
or an “affiliated person” of, or “promoter” or “principal underwriter” for, an “investment
company” within the meaning of the Investment Company Act of 1940, as amended.

 

(aa)     Application
of Takeover Protections. The Company and its Board of Directors have taken all necessary action, if any, in order to render
inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement)
or other similar anti-takeover provision under the Company’s Certificate of Incorporation (or similar charter documents)
or the laws of its state of incorporation that is or would become applicable to any of the Investors as a direct result of the
transactions

 

    	 	19 	 

     

    

 

contemplated by this Agreement, including without limitation, the Company’s issuance of the Securities to the
Investors. The Company has not adopted a stockholder rights plan or similar arrangement relating to accumulations of beneficial
ownership of Common Stock or a change in control of the Company.

 

(bb)        No
Additional Agreements. The Company does not directly or indirectly have any agreement or understanding with any Investor with
respect to the transactions contemplated by the Transaction Documents other than as specified in the Transaction Documents and
the Disclosure Materials.

 

(cc)        Disclosure.
The Company confirms that neither it nor, to its knowledge, any Person acting on its behalf has provided any Investor or its respective
agents or counsel with any information that the Company believes constitutes material, non-public information, except insofar as
the existence and terms of the proposed transactions hereunder and the information contained herein or in the other Transaction
Documents may constitute such information. The Company understands and confirms that the Investors will rely on the foregoing representations
and warranties in effecting transactions in securities of the Company. The Company acknowledges and agrees that no Investor makes
or has made any representations or warranties with respect to the transactions contemplated hereby other than those specifically
set forth in Sections 3.2 and 4.14.

 

(dd)        Off
Balance Sheet Arrangements. Except as set forth in Section 3.1(dd) of the Disclosure Letter, there is no transaction,
arrangement or other relationship between the Company or any of its Subsidiaries and an unconsolidated or other off balance sheet
entity that is required to be disclosed by the Company in its Exchange Act filings and is not so disclosed.

 

(ee)        U.S.
Real Property Holding Corporation. The Company is not, and has never been, a U.S. real property holding corporation within
the meaning of Section 897 of the Code and the Company shall so certify upon the request of any Investor.

 

(ff)        Foreign
Corrupt Practices. Neither the Company nor any of its Subsidiaries nor any director, officer, agent, employee or other Person
acting on behalf of the Company or any of its Subsidiaries has, in the course of its actions for, or on behalf of, the Company
or any of its Subsidiaries (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses
relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official
or employee from corporate funds; (iii) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act
of 1977, as amended; or (iv) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to
any foreign or domestic government official or employee, except in each case as would not have a Material Adverse Effect.

 

(gg)        No
General Solicitation.  Neither the Company nor any Person acting on behalf of the Company has offered or sold any
of the Shares by any form of general solicitation or general advertising.  The Company has offered the Shares for sale
only to the Investors and certain other “accredited investors” within the meaning of Rule 501 under the Securities
Act.

 

    	 	20 	 

     

    

 

(hh)    Accountants.  The
Company’s accounting firm is set forth in the SEC Reports.  To the knowledge and belief of the Company, such accounting
firm: (i) is a registered public accounting firm as required by the Exchange Act and (ii) shall express its opinion with respect
to the financial statements to be included in the Company’s Annual Report for the year ending December 31, 2016.

 

(ii)       Regulation
M Compliance.  The Company has not, and to its knowledge no one acting on its behalf has (i) taken, directly or indirectly,
any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate
the sale or resale of any of the Securities or (ii) paid or agreed to pay to any Person any compensation for soliciting another
to purchase any other securities of the Company.

 

3.2     Representations
and Warranties of the Investors. Each Investor hereby, for itself and for no other Investor, represents and warrants to the
Company as follows:

 

(a)       Organization;
Authority. Such Investor is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction
of its organization with the requisite corporate or partnership power and authority to enter into and to consummate the transactions
contemplated by the applicable Transaction Documents and otherwise to carry out its obligations thereunder. The execution, delivery
and performance by such Investor of the transactions contemplated by this Agreement has been duly authorized by all necessary corporate
or, if such Investor is not a corporation, such partnership, limited liability company or other applicable like action, on the
part of such Investor. Each of this Agreement and the Registration Rights Agreement has been duly executed by such Investor, and
when delivered by such Investor in accordance with the terms hereof, will constitute the valid and legally binding obligation of
such Investor, enforceable against it in accordance with its terms, except as rights to indemnity and contribution may be limited
by state or federal securities laws or the public policy underlying such laws, and except as such enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally
the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 

(b)       Investment
Intent. Such Investor understands that the Securities are “restricted securities” and have not been registered
under the Securities Act or any applicable state securities laws and is acquiring the Securities as principal for its own account
for investment purposes only and not with a view to or for distributing or reselling such Securities or any part thereof, without
prejudice, however, to such Investor’s right at all times to sell or otherwise dispose of all or any part of such Securities
in compliance with applicable federal and state securities laws. Subject to the immediately preceding sentence, nothing contained
herein shall be deemed a representation or warranty by such Investor to hold the Securities for any period of time. Such Investor
is acquiring the Securities hereunder in the ordinary course of its business. Such Investor does not have any agreement or understanding,
directly or indirectly, with any Person to distribute any of the Securities.

 

(c)       Investor
Status. At the time such Investor was offered the Securities, it was, and as of the date hereof it is either: (i) an “accredited
investor” as defined in Rule 501(a)

 

    	 	21 	 

     

    

 

under the Securities Act or (ii) a “qualified institutional buyer” as defined
in Rule 144A(a) under the Securities Act. Such Investor has completed and executed the Investor Questionnaire (attached to this
Agreement as Exhibit C and incorporated herein as representations and warranties of such Investor under this Section 3.2)
and that the information contained in such document is complete and accurate. Such Investor is not a registered broker-dealer under
Section 15 of the Exchange Act. Such Investor, either alone or together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Securities, and has so evaluated the merits and risks of such investment. Such Investor is able to bear the economic risk
of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

(d)       General
Solicitation. Such Investor is not purchasing the Securities as a result of any advertisement, article, notice or other communication
regarding the Securities published in any newspaper, magazine or similar media or broadcast over television or radio or presented
at any seminar or any other general solicitation or general advertisement.

 

(e)       Access
to Information. Such Investor acknowledges that it has reviewed the Disclosure Materials and has been afforded (i) the opportunity
to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the
terms and conditions of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to
information about the Company and the Subsidiaries and their respective financial condition, results of operations, business, properties,
management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional
information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed
investment decision with respect to the investment. Neither such inquiries nor any other investigation conducted by or on behalf
of such Investor or its representatives or counsel shall modify, amend or affect such Investor’s right to rely on the truth,
accuracy and completeness of the Disclosure Materials and the Company’s representations and warranties contained in the Transaction
Documents.

 

(f)       Certain
Trading Activities and Confidentiality. Other than consummating the transactions contemplated hereunder, such Investor has
not engaged, nor has such Investor directed any Person to act on its behalf to engage, in any transactions in the securities of
the Company (including, without limitations, any Short Sales involving the Company’s securities or “locking-up”
borrowing with respect to any of the Company’s securities) since the earlier to occur of (1) the time that such Investor
was first contacted by the Company or any other Person regarding this investment in the Company and (2) the 30th day
prior to the date of this Agreement. Other than to other Persons party to this Agreement (and their respective representatives
and advisors), such Investor has maintained the confidentiality of all disclosures made to it in connection with this transaction
(including the existence and terms of this transaction).

 

(g)       Independent
Investment Decision. Such Investor has independently evaluated the merits of its decision to purchase Securities pursuant to
this Agreement, and such

 

    	 	22 	 

     

    

 

Investor confirms that it has not relied on the advice of any other Investor’s business and/or legal
counsel in making such decision.

 

(h)       Reliance.
Such Investor understands and acknowledges that: (i) the Securities are being offered and sold to it without registration under
the Securities Act in a private placement that is exempt from the registration provisions of the Securities Act and (ii) the availability
of such exemption depends in part on, and the Company will rely upon the accuracy and truthfulness of, the foregoing representations
and such Investor hereby consents to such reliance.

 

(i)       Residency.
Such Investor is a resident of the jurisdiction set forth immediately below such Investor’s name on the signature pages hereto.

 

The Company acknowledges and agrees
that no Investor has made or makes any representations or warranties with respect to the transactions contemplated hereby other
than those specifically set forth in this Section 3.2 and Section 4.14.

 

ARTICLE
IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1         Reasonable
Best Efforts. Each party shall use its reasonable best efforts to timely satisfy each of the conditions to be satisfied by
it as provided in Sections 5.1 and 5.2 of this Agreement.

 

4.2         Legends.

 

(a)       Sales
of Securities. Securities may only be disposed of in compliance with state and federal securities laws. In connection with
any transfer of any Securities other than pursuant to an effective registration statement, to the Company, to an Affiliate of an
Investor or in connection with a pledge as contemplated in Section 4.2(d), the Company may, pursuant to the provisions of Section
4.2(e) below, require the transferor thereof to provide to the Company an opinion of counsel selected by the transferor, the form
and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require
registration of such transferred Securities under the Securities Act.

 

(b)       Register.
The Company shall maintain at its principal executive offices (or such other office or agency of the Company as it may designate
by notice to each holder of Securities) a register for the Securities in which the Company shall record the name and address of
the Person in whose name the Securities have been issued (including the name and address of each transferee). The Company shall
keep the register open and available at all times during business hours for inspection of any Investor or its legal representatives.

 

(c)       Transfer
Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent, and any subsequent transfer agent,
to issue certificates or credit shares to the applicable balance accounts at The Depository Trust Company (“DTC”)
(if DTC is then offered by the Company and its transfer agent and such Securities qualify for deposit with DTC in accordance with
its rules), registered in the name of each Investor or its respective

 

    	 	23 	 

     

    

 

nominee(s), for the Securities in such amounts as specified
from time to time by each Investor to the Company upon conversion of the Company Shares. The Company represents and warrants that
no instruction other than the irrevocable instructions to its transfer agent referred to in this Section 4.2(c) will be given by
the Company to its transfer agent with respect to the Securities and that the Securities shall otherwise be freely transferable
on the books and records of the Company, as applicable, and to the extent provided in this Agreement and the other Transaction
Documents, except as it may reasonably determine are necessary to comply or to ensure compliance with those applicable laws that
are enacted or modified after the Closing. If an Investor effects a sale, assignment or transfer of the Securities in accordance
with the terms of the Transaction Documents, the Company shall permit the transfer and shall promptly instruct its transfer agent
to issue one or more certificates or credit shares to the applicable balance accounts at DTC (if DTC is then offered by the Company
and its transfer agent and such Securities qualify for deposit with DTC in accordance with its rules) in such name and in such
denominations as specified by such Investor to effect such sale, transfer or assignment. In the event that such sale, assignment
or transfer involves Securities sold, assigned or transferred pursuant to an effective registration statement or in compliance
with Rule 144 (provided that in the case of a sale, transfer or assignment under Rule 144 the foregoing is not an “affiliate”
of the Company or any of its Subsidiaries (as defined in Rule 144)), the transfer agent shall issue such Securities to the Investor,
assignee or transferee, as the case may be, without any restrictive legend in accordance with Section 4.2(e) below. The Company
acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to an Investor. Accordingly, the Company
acknowledges that the remedy at law for a breach of its obligations under this Section 4.2(c) will be inadequate and agrees, in
the event of a breach or threatened breach by the Company of any provisions of this Section 4.2(c), that an Investor shall be entitled,
in addition to all other available remedies, to an order and/or injunction restraining any breach and requiring immediate issuance
and transfer, without the necessity of showing economic loss and without any bond or other security being required. The Company
shall cause its counsel to issue the legal opinion referred to in the irrevocable transfer agent instructions required to be delivered
pursuant to the terms of the Registration Rights Agreement to the Company’s transfer agent on each Effective Date. Any fees
(with respect to the transfer agent, counsel to the Company or otherwise) associated with the issuance of such opinion or the removal
of any legends on any of the Securities shall be borne by the Company.

 

(d)       Certificates
evidencing the Securities will contain the following legend, until such time as they are not required under Section 4.1(e):

 

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH
THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT
PURSUANT TO (I) (A) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION
NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE

 

    	 	24 	 

     

    

 

SECURITIES LAWS AS
EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE
TO THE COMPANY OR (II) RULE 144 OR RULE 144A UNDER THE SECURITIES ACT. NOTWITHSTANDING THE FOREGOING, THESE SECURITIES MAY BE PLEDGED
IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT SECURED BY SUCH SECURITIES.

 

The Company acknowledges and agrees
that an Investor may from time to time pledge, and/or grant a security interest in some or all of the Securities in accordance
with all applicable federal and state securities laws pursuant to a bona fide margin agreement in connection with a bona fide margin
account and, if required under the terms of such agreement or account, such Investor may transfer pledged or secured Securities
to the pledgees or secured parties. Such a pledge or transfer would not be subject to approval or consent of the Company and no
legal opinion of legal counsel to the pledgee, secured party or pledgor shall be required in connection with the pledge, but such
legal opinion may be required in connection with a subsequent transfer by the pledgee or secured party following default by such
Investor or otherwise. No notice shall be required of such pledge. At the appropriate Investor’s expense, the Company will
execute and deliver such reasonable documentation as a pledgee or secured party of Securities may reasonably request in connection
with a pledge or transfer of the Securities.

 

(e)       Certificates
evidencing the Securities shall not contain any legend (including the legend set forth in Section 4.1(d)) at such time as an Investor
has provided reasonable evidence to the Company (including any customary broker’s or selling stockholder’s letters
but expressly excluding an opinion of counsel other than with respect to clauses (iv) or (v) below), that: (i) there has been a
sale of such Securities pursuant to an effective registration statement (including the Registration Statement(s)), (ii) there has
been a sale of such Securities pursuant to Rule 144 (assuming the transferor is not an Affiliate of the Company), (iii) such Securities
are then eligible for sale under Rule 144(b)(1)(i), (iv) in connection with a sale, assignment or other transfer (other than under
Rule 144) provided that, upon request of the Company, such Investor provides the Company with an opinion of counsel to such Investor,
in a reasonably acceptable form, to the effect that such sale, assignment or transfer of the Securities may be made without registration
under the applicable requirements of the Securities Act or (v) if such legend is not required under applicable requirements of
the Securities Act (including, without limitation, controlling judicial interpretations and pronouncements issued by the Commission).
Following such time as restrictive legends are not required to be placed on certificates representing Securities pursuant to the
preceding sentence, the Company will, no later than three (3) Trading Days following the delivery by an Investor to the Company
or the Company’s transfer agent of a certificate representing Securities containing a restrictive legend and the foregoing
evidence (and opinion if applicable), deliver or cause to be delivered to such Investor a certificate representing such Securities
that is free from all restrictive and other legends or credit the balance account of such Investor’s or such Investor’s
nominee with DTC (if DTC is then offered by the Company and its transfer agent and such Securities qualify for deposit with DTC
in accordance with its rules) with a number of shares of Preferred Stock or Common Stock equal to the number of shares represented
by the certificate so delivered by such Investor (the date by which such certificate is required to be delivered to such Investor
or such

 

    	 	25 	 

     

    

 

shares were required to be credited to such Investor’s account with DTC (as the case may be) pursuant to the foregoing
is referred to herein as the “Required Delivery Date”). The Company may not make any notation on its records
or give instructions to any transfer agent of the Company that enlarge the restrictions on transfer set forth in this Section,
except as it may reasonably determine are necessary or appropriate to comply or to ensure compliance with those applicable laws
that are enacted or modified after the Closing.

 

4.3       Form
D and Blue Sky. The Company agrees to file a Form D with respect to the Securities as required under Regulation D and to provide
a copy thereof to each Investor who requests one promptly after such filing. The Company shall, on or before the Closing Date,
take such action as the Company shall reasonably determine is necessary in order to obtain an exemption for, or to, qualify the
Securities for sale to the Investors at the Closing pursuant to this Agreement under applicable securities or “Blue Sky”
laws of the states of the United States (or to obtain an exemption from such qualification), and shall provide evidence of any
such action so taken to the Investors on or prior to the Closing Date. The Company shall make all filings and reports relating
to the offer and sale of the Securities required under applicable securities or “Blue Sky” laws of the states of the
United States following the Closing Date.

 

4.4       Furnishing
of Information. Until the earliest of the time that (i) no Investor owns Securities, or (ii) the consummation of a Fundamental
Transaction where the Company is no longer publicly traded following such Fundamental Transaction (the “Reporting Period”)
has occurred, the Company covenants to maintain the registration of the Common Stock under Section 12(b) or 12(g) of the Exchange
Act and to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required
to be filed by the Company after the date hereof pursuant to the Exchange Act even if the Exchange Act or the rules and regulations
thereunder would no longer require or otherwise permit such termination. Without limiting any of the Company’s obligations
under the Registration Rights Agreement, during the Reporting Period, if the Company is not required or permitted to file reports
pursuant to such laws, it will prepare and furnish to the Investors and make publicly available in accordance with Rule 144(c)
such information as is required for the Investors to sell the Securities under Rule 144. Without limiting any of the Company’s
obligations under the Registration Rights Agreement, the Company further covenants that it will take such further action as any
holder of Securities may reasonably request, to the extent required from time to time to enable such Person to sell the Securities
without registration under the Securities Act, including without limitation, within the requirements of the exemption provided
by Rule 144.

 

4.5       Integration.
The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined
in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities in a manner that would require
the registration under the Securities Act of the sale of the Securities to the Investors, or that would be integrated with the
offer or sale of the Securities for purposes of the rules and regulations of any Trading Market in a manner that would require
stockholder approval of the sale of the securities to the Investors.

 

4.6       Securities
Laws Disclosure; Publicity. Following the execution of this Agreement, and following the Closing Date (unless the Closing Date
occurs on the same date as the

 

    	 	26 	 

     

    

 

execution
of this Agreement, in which case only one press release will be required), the Company shall issue press releases disclosing the
transactions contemplated hereby (and the material terms hereof) and the Closing. Within four (4) Trading Days following the execution
of this Agreement, the Company will file a Current Report on Form 8-K disclosing the material terms of the Transaction Documents
(and attach as exhibits thereto the Transaction Documents), and within four (4) Trading Days following the Closing Date the Company
will file an additional Current Report on Form 8-K to disclose the Closing (unless the Closing Date occurs on the same date as
the execution of this Agreement, in which case only one Form 8-K will be required).

 

4.7          Indemnification
of Investors. In addition to the indemnity provided in the Registration Rights Agreement, the Company will indemnify and hold
each Investor and its directors, officers, stockholders, partners, employees, members and direct or indirect investors and any
of the foregoing Persons’ agents or other representatives (including, without limitation, those retained in connection with
the transactions contemplated by this Agreement) (each, an “Investor Party”) harmless from any and all losses,
liabilities, obligations, claims, contingencies, damages, costs, expenses, actions, causes of action, suits, penalties and fees,
including all judgments, amounts paid in settlements, court costs and reasonable out-of-pocket attorneys’ fees and costs
of investigation that any such Investor Party may suffer or incur as a result of, arising out of or relating to (a) any misrepresentation,
breach or inaccuracy of any representation, warranty, covenant, obligation or agreement made by the Company in any Transaction
Document or (b) any cause of action, suit or claim brought or made against any Investor Party by a third party (including for
these purposes a derivative action brought on behalf of the Company) and arising out of or resulting from (i) the execution, delivery,
performance or enforcement of the Transaction Documents, (ii) any transaction financed or to be financed in whole or in part,
directly or indirectly, with the proceeds of the issuance of the Securities, or (iii) the status of such Investor Party or holder
of the Securities as an investor in the Company pursuant to the transactions contemplated by the Transaction Documents; provided,
that an Investor Party shall not be entitled to indemnification to the extent any of the foregoing is caused by such Investor
Party’s gross negligence, material violation of law or regulation or willful misconduct. In addition to the indemnity contained
herein, the Company will reimburse each Investor Party for its reasonable out-of-pocket legal and other expenses (including the
reasonable out-of-pocket cost of any investigation, preparation and travel in connection therewith) as incurred in connection
therewith, as promptly as practicable after such expenses are incurred and invoiced.

 

4.8          Non-Public
Information. Except with respect to material terms and conditions of the transactions contemplated by the Transaction Documents,
the Company covenants and agrees that neither it nor any of its Subsidiaries, or other Person acting on its or their behalf will
provide an Investor or its agents or counsel with any material, non-public information regarding the Company or its Subsidiaries
without the prior express consent of the Investor; provided, that no such consent shall be required prior to disclosing any such
material, non-public information to (a) a director designated pursuant to the letter agreement between the Company and Independence
Blue Cross, dated as of September 30, 2010 (but only when made to such director in his or her capacity as a director) or (b) an
Investor (and its respective representatives and advisors) or when such disclosure is required by the express terms of this Agreement
or the

 

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Registration
Rights Agreement. The Company understands that the Investor shall be relying on the foregoing covenant in effecting transactions
in securities of the Company.

 

4.9          Listing
of Securities. The Company shall promptly secure the listing of all of the Registrable Securities upon each national securities
exchange and automated quotation system, if any, upon which the Common Stock is then listed (subject to official notice of issuance)
and shall maintain such listing of all Registrable Securities from time to time issuable under the terms of the Transaction Documents
on such exchange or automated quotation system or another Trading Market. The Company shall use reasonable best efforts to maintain
the Common Stock’s authorization for quotation on the Principal Market. The Company agrees, (i) if the Company applies to
have the Common Stock traded on any other Trading Market, it will include in such application the Company Shares and the Conversion
Shares, and will take such other action as is necessary or desirable to cause the Company Shares and the Conversion Shares to
be listed on such other Trading Market as promptly as possible, and (ii) it will use reasonable best efforts to take all action
that it believes is reasonably necessary to continue the listing and trading of its Common Stock on a Trading Market and to comply
in all material respects with the Company’s reporting, filing and other obligations under the Bylaws or rules of the applicable
Trading Market. Neither the Company nor any of its Subsidiaries shall take any action which it believes could be reasonably expected
to result in the delisting or suspension of the Common Stock (and if required to be listed by this Section 4.9, the Preferred
Stock) on any Trading Market. The Company shall pay all fees and expenses in connection with satisfying its obligations under
this Section 4.9.

 

4.10          Use
of Proceeds. The Company will use the net proceeds from the sale of the Shares hereunder for working capital purposes and
not to redeem any Common Stock or Equivalents or any other equity securities of the Company or any of its Subsidiaries.

 

4.11          Additional
Issuances of Securities.

 

(a)          The
Company agrees that, except for the Other Securities Agreements, if any, for the period commencing on the date hereof and ending
ninety (90) days after the Closing, neither the Company nor any of its Subsidiaries shall directly or indirectly issue, offer,
sell, grant any option to purchase, or otherwise dispose of (or announce any issuance, offer, sale, grant or any option to purchase
or other disposition of) any of their respective equity or equity equivalent securities, including, without limitation, any debt,
preferred stock, rights, options, warrants or other instrument that is at any time and under any circumstances convertible into
or exchangeable for, or otherwise entitles the holder thereof to receive, capital stock and other securities of the Company (including,
without limitation, Common Stock Equivalents) (collectively with such capital stock or other securities of the Company, “Equivalents”)
(any such issuance, offer, sale, grant, disposition or announcement being referred to as a “Subsequent Placement”).

 

(b)          Notwithstanding
the foregoing, this Section 4.11 shall not apply in respect of the issuance of (A) Company stock or options to purchase Company
stock issued to directors, officers, employees or consultants of the Company in connection with their service as directors or
officers of the Company, their employment by the Company or their retention as consultants

 

    28

     

    

 

by
the Company pursuant to an equity compensation program or other contract or arrangement approved by the Board of Directors of
the Company (or the compensation committee of the Board of Directors of the Company), provided that all such issuances after the
date hereof pursuant to this clause (A) do not, in the aggregate, exceed more than 10% of the Common Stock issued and outstanding
immediately prior to the date hereof, (B) Common Stock or standard warrants (including so-called penny warrants) to purchase Common
Stock in connection with strategic alliances, acquisitions, mergers, strategic partnerships, joint ventures, vendor and supplier
arrangements and as equity kickers in lease and financing transactions, the primary purpose of which is not to raise capital,
and which are approved in good faith by the Company’s Board of Directors, provided that all such issuances after the date
hereof pursuant to this clause (B) do not, in the aggregate, exceed more than 10% of the Common Stock issued and outstanding immediately
prior to the date hereof, (C) shares issued upon the conversion or exercise of Equivalents issued prior to the date hereof, provided
that such Equivalents have not been amended since the date of this Agreement to increase the number of shares issuable thereunder
or to lower the exercise or conversion price thereof or otherwise materially change the terms or conditions thereof in any manner
that adversely affects any of the Investors, (D) shares issued or issuable by reason of a dividend, stock split or other distribution
on Common Stock, or (E) the Conversion Shares (each of the foregoing in clauses (A) through (E), collectively the “Excluded
Securities”).

 

4.12          Conduct
of Business. The business of the Company and its Subsidiaries shall not be conducted in violation of any law, ordinance or
regulation of any governmental entity, except where such violations would not result, either individually or in the aggregate,
in a Material Adverse Effect.

 

4.13          Variable
Rate Transaction. From the date hereof until twelve (12) months after the Closing, the Company shall be prohibited from effecting
or entering into an agreement to effect any Subsequent Placement involving a “Variable Rate Transaction.” The term
“Variable Rate Transaction” shall mean a transaction in which the Company (i) issues or sells any Equivalents
either (A) at a conversion, exercise or exchange rate or other price that is based upon and/or varies with the trading prices
of or quotations for the shares of Common Stock at any time after the initial issuance of such Equivalents, or (B) with a conversion,
exercise or exchange price that is subject to being reset at some future date after the initial issuance of such Equivalents or
upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market
for the Common Stock, other than pursuant to a customary “weighted average” or “full ratchet” anti-dilution
provision or (ii) enters into any agreement (including, but not limited to, an equity line of credit) whereby the Company may
sell securities at a future determined price (other than customary “pre-emptive” or “participation” rights).
Each Investor shall be entitled to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall
be in addition to any right to collect damages.

 

4.14          Trading
Restrictions. Each Investor represents and warrants to, and covenants with, the Company that it will not (and its Affiliates
acting on its behalf or pursuant to any understanding with it will not) engage in or effect, directly or indirectly, any transactions
in any securities of the Company (including, without limitation, any Short Sales, “locking-up” borrow or hedging activities
involving the Company’s securities) during the period commencing on the

 

    29

     

    

 

date
hereof and ending on the date that is fifteen (15) months following the Closing Date. In furtherance (and without limitation)
of the foregoing, during such restricted period, neither such Investor nor any of such Affiliates, (a) will directly or indirectly,
sell, agree to sell, grant any call option or purchase any put option with respect to, pledge, borrow or otherwise dispose of
any securities of the Company, or (b) will establish or increase any “put equivalent position” or liquidate or decrease
any “call equivalent position” with respect to any such securities (in each case within the meaning of Section 16
of the Exchange Act and the rules and regulations promulgated thereunder), or otherwise enter into any swap, derivative or other
transaction or arrangement that transfers to another, in whole or in part, any economic consequence of ownership of any such securities,
whether or not such transaction is to be settled by delivery of any such securities, other securities, cash or other consideration.
Notwithstanding the foregoing, it is understood and agreed that nothing contained in this Section 4.14 shall prohibit such Investor
(or such Affiliates) from (1) purchasing or agreeing to purchase unrestricted securities of the Company or securities which are
covered by an effective registration statement and the prospectus included therein is available for use on the date of such purchase
(including through block trades or privately negotiated transactions), (2) purchasing or agreeing to purchase securities of the
Company pursuant to Section 4.15 or otherwise from the Company, (3) selling or agreeing to sell “long” securities
of the Company (because such Investor or such Affiliate is “deemed to own such securities” pursuant to paragraph (b)
of Rule 200 under Regulation SHO), including, without limitation, (I) any Company Shares, Conversion Shares acquired hereunder
or pursuant to the transactions contemplated hereby or any of the Transaction Documents, (II) any shares of Common Stock or warrants
to purchase shares of Common Stock held on the date hereof, (III) any shares of Common Stock acquired after the date hereof pursuant
to the exercise of warrants to purchase Common Stock held on the date hereof, or (IV) securities acquired after the date hereof
in accordance with this paragraph, (4) pledging or hypothecating any securities of the Company in connection with leverage arrangements
engaged in by such Investor (or such Affiliates) without the purpose of transferring economic risk relating to such securities
or (5) from transferring any of the Securities to any Affiliate who agrees in writing to be bound by this Section 4.14, in each
case, provided such sale is in compliance with all applicable securities laws and following the public announcement of the transaction
contemplated hereby pursuant to Section 4.6.

 

4.15          Participation
Right. From the date hereof until 24 months after the Closing, except for the Other Securities Purchase Agreements, if any,
the Company shall not effect any Subsequent Placement unless the Company shall have first complied with this Section 4.15. The
Company acknowledges and agrees that the right set forth in this Section 4.15 is a right granted by the Company to each Investor,
for so long as it or any of its affiliates in the aggregate holds at least one percent of the Common Stock then outstanding on
a fully-diluted basis.

 

(a)          The
Company shall deliver to each Investor a written notice (the ”Offer Notice”) of any proposed or intended
issuance or sale or exchange (the ”Offer”) of the securities being offered (the “Offered Securities”)
in a Subsequent Placement, which Offer Notice shall (w) identify and describe the Offered Securities, (x) describe the price
and other terms upon which they are to be issued, sold or exchanged, and the number or amount of the Offered Securities to be
issued, sold or exchanged, (y) identify the Persons (if known) to which or with which the Offered Securities are to be offered,
issued, sold or exchanged and (z) offer to issue

 

    30

     

    

 

and
sell to or exchange with such Investor in accordance with the terms of the Offer such Investor’s pro rata portion of the
Offered Securities, calculated by dividing (i) the number of shares of Common Stock, including options and convertible securities
whether or not actually exercised at such time, owned by such Investor as of immediately prior to the Offer, by (ii) the Common
Stock then outstanding on a fully-diluted basis (such pro rata portion, the “Basic Amount”).

 

(b)          To
accept an Offer, in whole or in part, an Investor must deliver an irrevocable written notice to the Company prior to the end of
the third (3rd) Business Day after such Investor’s receipt of the Offer Notice (the “Offer Period”),
setting forth the portion of such Investor’s Basic Amount that such Investor elects to purchase (the “Notice of
Acceptance”).

 

(c)          The
Company shall have twenty (20) Business Days from the expiration of the Offer Period above to offer, issue, sell or exchange all
or any part of such Offered Securities as to which a Notice of Acceptance has not been given by the Investors (the “Refused
Securities”) pursuant to a definitive agreement(s) (the “Subsequent Placement Agreement”), but only
to the offerees described in the Offer Notice (if so described therein) and only upon terms and conditions (including, without
limitation, share prices and interest rates) that are not materially more favorable (when viewed on an aggregate basis) to the
acquiring Person or Persons or materially less favorable (when viewed on an aggregate basis) to the Company than those set forth
in the Offer Notice.

 

(d)          Upon
the closing of the issuance, sale or exchange of all or less than all of the Refused Securities, the Investors shall acquire from
the Company, subject to the terms and conditions specified in the Offer Notice, and the Company shall issue to the Investors,
the number or amount of Offered Securities specified in the Notices of Acceptance, subject to the terms and conditions specified
in the Offer Notice. The purchase by the Investors of any Offered Securities is subject in all cases to the preparation, execution
and delivery by the Company and the Investors of a separate purchase agreement relating to such Offered Securities reasonably
satisfactory in form and substance to the Investors and their counsel and the Company and its counsel.

 

(e)          The
Company and each Investor agree that if such Investor elects to participate in the Offer, neither the Subsequent Placement Agreement
with respect to such Offer nor any other transaction documents related thereto (collectively, the “Subsequent Placement
Documents”) shall include any term or provisions whereby such Investor shall be required to agree to any restrictions
on trading as to any securities of the Company owned by such Investor prior to such Subsequent Placement more restrictive in any
material respect than the restrictions contained in the Transaction Documents.

 

(f)          Notwithstanding
anything to the contrary in this Section 4.15 and unless otherwise agreed to by each Investor, the Company shall either confirm
in writing to each Investor that the transaction with respect to the Subsequent Placement has been abandoned or shall publicly
disclose its intention to issue the Offered Securities, in either case in such a manner such that such Investor will not be in
possession of any material, non-public information, by the thirtieth (30th) Business Day following delivery of the
Offer Notice (or any later follow-up

 

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Offer
Notice or offer terms provided pursuant to the terms of this Section 4.15(b) (the “Public Notice Date”). If
by the Public Notice Date, no public disclosure regarding a transaction with respect to the Offered Securities has been made,
and no notice regarding the abandonment of such transaction has been received by each Investor, such transaction shall be deemed
to have been abandoned.

 

(g)          The
restrictions contained in this Section 4.15 shall not apply in connection with the issuance of any Excluded Securities.

 

4.16          Prohibited
Actions. The Company shall not without the prior consent of each Investor knowingly enter into any transaction or take any
other action which would create any liability under Section 16(b) of the Exchange Act, or the rules promulgated thereunder by
the Commission, on the part the Investor as a consequence of having purchased the Securities under this Agreement.

 

ARTICLE
V.

 

CONDITIONS
PRECEDENT TO CLOSINGS

  

5.1          Conditions
Precedent to the Obligations of the Investors to Purchase Securities. The obligation of each Investor to acquire the Securities
at the Closing are subject to the satisfaction, or waiver by such Investor, at or before the Closing, of each of the following
conditions:

 

(a)          Representations
and Warranties. Each and every representation and warranty of the Company contained herein shall be true and correct in all
respects as of the date when made and in all material respects as of the Closing Date as though originally made on and as of such
date (except for representations and warranties qualified by materiality or Material Adverse Effect, which shall be true and correct
in all respects). Such Investor shall have received a certificate, executed by the Chief Financial Officer of the Company, dated
as of the Closing Date, to the foregoing effect and as to such other matters as may be reasonably requested by such Investor;

 

(b)          Performance.
The Company shall have performed, satisfied and complied in all respects with all covenants, agreements and conditions required
by the Transaction Documents to be performed, satisfied or complied with by it at or prior to the Closing. Such Investor shall
have received a certificate, executed by the Chief Financial Officer of the Company, dated as of the Closing Date, to the foregoing
effect and as to such other matters as may be reasonably requested by such Investor;

 

(c)          No
Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any
of the transactions contemplated by the Transaction Documents;

 

    32

     

    

 

(d)          Adverse
Changes. Since the date of execution of this Agreement, no event or series of events shall have occurred that reasonably would
have or result in a Material Adverse Effect;

 

(e)          No
Suspensions of Trading in Common Stock; Listing. Trading in the Common Stock shall not have been suspended (or threatened
to be suspended) by the Commission or any Trading Market (except for any suspensions of trading of not more than one Trading Day
solely to permit dissemination of material information regarding the Company) at any time since the date of execution of this
Agreement, and the Common Stock shall have been at all times since such date listed for trading on a Trading Market. The Common
Stock shall be designated for quotation or listed on the Principal Market and any required approval of the Principal Market to
list the Company Shares shall have been obtained by the Company;

 

(f)          Company
Deliverables. The Company shall have delivered the Company Deliverables in accordance with Section 2.2(a); and

 

(g)          Consents
and Approvals. The Company shall have obtained all governmental, regulatory or third party consents and approvals, if any,
necessary for the sale of the Securities, including without limitation, any of those required by the Principal Market.

 

5.2          Conditions
Precedent to the Obligations of the Company to Sell Securities. The obligation of the Company to sell the Shares at the Closing
is subject to the satisfaction, or waiver by the Company, at or before the Closing, of each of the following conditions:

 

(a)          Representations
and Warranties. The representations and warranties of each Investor contained herein shall be true and correct in all material
respects as of the date when made and as of the Closing Date as though made on and as of such date;

 

(b)          Performance.
Each Investor shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions
required by the Transaction Documents to be performed, satisfied or complied with by such Investor at or prior to the Closing;

 

(c)          No
Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any
of the transactions contemplated by the Transaction Documents; and

 

(d)          Investor
Deliverables. Each Investor shall have delivered its Investor Deliverables in accordance with Section 2.2(b).

 

ARTICLE
VI.

MISCELLANEOUS

 

6.1          Fees
and Expenses. Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any,
and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of
the Transaction

 

    33

     

    

 

Documents;
provided, however, at the Closing, the Company shall pay the reasonable fees and expenses of counsel to The Co-Investment Fund
II, L.P., in an amount not to exceed, in the aggregate, $25,000.

 

6.2          Termination.
In the event that the Closing shall not have occurred on or before May 15, 2017 due to the Company’s or the Investors’
failure to satisfy the conditions set forth in Sections 5.1 and 5.2 above (and a non-breaching party’s failure to waive
such unsatisfied condition(s)), any such non-breaching party shall have the right to terminate its obligations under this Agreement
at the close of business on such date without liability of such non-breaching party to any other party; provided, however, that
the abandonment of the sale and purchase of the Securities shall be applicable only to such non-breaching party providing such
written notice; provided further, notwithstanding any such termination the Company shall remain obligated to reimburse the non-breaching
Investors for the expenses described in Section 6.1 above. Nothing contained in this Section 6.2 shall be deemed to release any
party from any liability for any breach by such party of the terms and provisions of this Agreement or the other Transaction Documents
or to impair the right of any party to compel specific performance by any other party of its obligations under this Agreement
or the other Transaction Documents.

 

6.3          Entire
Agreement. The Transaction Documents, together with the exhibits, schedules and the Disclosure Letter thereto, contain the
entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements, understandings,
discussions and representations, oral or written, with respect to such subject matter, which the parties acknowledge have been
merged into such documents, exhibits and schedules. The Company confirms that, except for the investment in the Securities as
set forth in this Agreement, no Investor has made any commitment or promise or has any other obligation to provide any financing
to the Company or otherwise.

 

6.4          Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered
via facsimile (provided the sender receives a machine-generated confirmation of successful transmission) at the facsimile number
specified in this Section 6.4 prior to 6:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date
of transmission, if such notice or communication is delivered via facsimile at the facsimile number specified in this Section
6.4 on a day that is not a Trading Day or later than 6:30 p.m. (New York City time) on any Trading Day, (c) the Trading Day following
the date of mailing, if sent by U.S. nationally recognized overnight courier service (with next day delivery specified), or (d)
upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications
shall be as follows:

 

	 	If
    to the Company:	InsPro
    Technologies Corporation
	 	 	1510
    Chester Pike, Suite 400
	 	 	Eddystone,
    PA 19022
	 	 	Facsimile:
    (484) 654-2212
	 	 	Attn:
    Chief Financial Officer

 

    34

     

    

 

	 	 	 
	 	With
    copies to:	InsPro
    Technologies Corporation
	 	 	1510
    Chester Pike, Suite 400
	 	 	Eddystone,
    PA 19022
	 	 	Facsimile:
    (484) 654-2209
	 	 	Attn:
    Vice President and Controller
	 	 	 
	 	 	Morgan,
    Lewis & Bockius LLP
	 	 	1701
    Market Street
	 	 	Philadelphia,
    PA 19103
	 	 	Facsimile:
    (215) 963-5001
	 	 	Attn:
    James W. McKenzie, Jr., Esq.
	 	 	 
	 	If
    to an Investor:	To
    the address set forth under such Investor’s name on the signature pages hereof;

  

or
such other address as may be designated in writing hereafter, in the same manner, by such Person.

 

6.5          Amendments;
Waivers; No Additional Consideration. No provision of any Transaction Document may be waived or amended except in a written
instrument signed by the Company and the Investors holding a majority of the Securities, provided that any party shall have the
right to provide a waiver with regards to itself. No waiver of any default with respect to any provision, condition or requirement
of any Transaction Document shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a
waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any
right hereunder in any manner impair the exercise of any such right. No consideration shall be offered or paid to any Investor
to amend or consent to a waiver or modification of any provision of any Transaction Document unless the same consideration is
also offered to all Investors who then hold the Securities. No such amendment or waiver (unless given pursuant to the foregoing
provisos) shall be effective to the extent that it applies to less than all of the holders of the Securities then outstanding.

 

6.6          Construction.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party. This Agreement shall be construed
as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue
of the authorship of any provisions of this Agreement or any of the Transaction Documents.

 

6.7          Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted
assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of
the Investors. Any Investor may assign any or all of its rights under this Agreement and the other

 

    35

     

    

 

Transaction
Documents to any Person to whom such Investor assigns or transfers any Securities, provided such assignee or transferee agrees
in writing to be bound, with respect to the assigned or transferred Securities, by the provisions hereof that apply to the “Investors,”
in which event such assignee or transferee shall be deemed to be an Investor hereunder with respect to such assigned rights.

 

6.8          No
Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as
otherwise set forth in Section 4.7 (as to each Investor Party).

 

6.9          Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the State of Delaware, without regard to conflicts of law
or choice of law principles that would cause the application of the laws of another jurisdiction. Each party agrees that all Proceedings
concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction
Documents (whether brought against a party hereto or its respective Affiliates, employees or agents) shall be commenced exclusively
in the Delaware Courts. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the Delaware Courts for
the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein
(including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not
to assert in any Proceeding, any claim that it is not personally subject to the jurisdiction of any such Delaware Court, or that
such Proceeding has been commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives personal
service of process and consents to process being served in any such Proceeding by mailing a copy thereof via registered or certified
mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising
out of or relating to this Agreement or the transactions contemplated hereby. If either party shall commence a Proceeding to enforce
any provisions of a Transaction Document, then the prevailing party in such Proceeding shall be reimbursed by the other party
for its reasonable out-of-pocket attorneys’ fees and other reasonable out-of-pocket costs and expenses incurred with the
investigation, preparation and prosecution of such Proceeding.

 

6.10          Survival.
The representations, warranties, agreements and covenants contained herein shall survive the Closing and the delivery of the Securities.
Each Investor shall be responsible only for its own representations, warranties, agreements and covenants hereunder.

 

6.11          Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. In the event that any

 

    36

     

    

 

signature
is delivered by facsimile or other electronic transmission, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or other electronically
transmitted signature page were an original thereof.

 

6.12          Severability.
If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the
remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt
to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate
such substitute provision in this Agreement.

 

6.13          Rescission
and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of)
the Transaction Documents, whenever any Investor exercises a right, election, demand or option under a Transaction Document and
the Company does not timely perform its related obligations within the periods therein provided, then such Investor may rescind
or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election
in whole or in part without prejudice to its future actions and rights.

 

6.14          Replacement
of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company
shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution
therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss,
theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new certificate or instrument
under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Securities.
If a replacement certificate or instrument evidencing any Securities is requested due to a mutilation thereof, the Company may
require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.

 

6.15          Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of
the parties hereto will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages
may not be adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing sentence
and hereby agrees to waive in any action for specific performance of any such obligation the defense that a remedy at law would
be adequate. The Company therefore agrees that the Investors shall be entitled to specific performance and temporary and permanent
injunctive relief in any such case without the necessity of proving actual damages and without posting a bond or any other type
of security.

 

6.16          Payment
Set Aside. To the extent that the Company makes a payment or payments to any Investor pursuant to any Transaction Document
or an Investor enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or
exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from,
disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other person
under any

 

    37

     

    

 

law
(including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the
extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued
in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred.

 

6.17          Independent
Nature of Investors’ Obligations and Rights. The obligations of each Investor under the Transaction Documents are several
and not joint with the obligations of any other Investor, and no Investor shall be responsible in any way for the performance
of the obligations of any other Investor under any Transaction Document. The decision of each Investor to purchase Securities
pursuant to the Transaction Documents has been made by such Investor independently of any other Investor. Nothing contained herein
or in any other Transaction Document, and no action taken by any Investor pursuant hereto or thereto, shall be deemed to constitute
the Investors as a partnership, an association, a joint venture or any other kind of group or entity, or create a presumption
that the Investors are in any way acting in concert or as a group or entity with respect to such obligations or the transactions
contemplated by the Transaction Documents or any other matters, and the Company acknowledges that, to its knowledge, the Investors
are not acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents.
Each Investor acknowledges that no other Investor has acted as agent for such Investor in connection with such Investor making
its investment hereunder and that no other Investor or counsel or advisor for such other Investor will be acting as agent of such
Investor in connection with monitoring such Investor’s investment in the Securities or enforcing its rights under the Transaction
Documents. The Company and each Investor confirms that each Investor has independently participated with the Company in the negotiation
of the transaction contemplated hereby with the advice of its own counsel and advisors. Each Investor shall be entitled to independently
protect and enforce its rights, including, without limitation, the rights arising out of this Agreement or out of any other Transaction
Document, and it shall not be necessary for any other Investor to be joined as an additional party in any proceeding for such
purpose. The use of a single agreement to effectuate the purchase and sale of the Securities contemplated hereby was solely in
the control of the Company, not the action or decision of any Investor, and was done solely for the convenience of the Company
and not because it was required or requested to do so by any Investor. It is expressly understood and agreed that each provision
contained in this Agreement and in each other Transaction Document is between the Company and an Investor, solely, and not between
the Company and the Investors collectively and not between and among Investors.

 

6.18          Delivery
of Securities. Notwithstanding anything contained in this Agreement or any other Transaction Document to the contrary, unless
otherwise directed in writing by the applicable Investor, the Company shall, and shall cause its agents and representatives to,
deliver all of such Investor’s Securities purchased pursuant to this Agreement (and all securities which are issuable to
the Investor pursuant to the terms of this Agreement or any other Transaction Document) to the address for delivery of Securities
set forth on such Investor’s signature page to this Agreement, and copies of the certificates representing such securities
shall be sent to such Investor to the address of such Investor as set forth on such Investor’s signature page to this Agreement.

 

6.19          Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request

 

    38

     

    

 

in
order to carry out the intent and accomplish the purposes of this Agreement and the other Transaction Documents and the consummation
of the transactions contemplated hereby.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGES FOLLOW]

 

    39

     

    

 

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

 

	 	InsPro
    Technologies Corporation
	 	 
	 	/s/
    Anthony R. Verdi	 
	 	Name:
    Anthony R. Verdi
	 	Title:
    Chief Financial Officer

  

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGES FOR INVESTORS FOLLOW]

 

    

     

    

 

	 	Azeez
    Enterprises, L.P.
	 	 	 
	 	By:	/s/
    Michael Azeez
	 	 	  Name:
    Michael Azeez
	 	 	  Title: General Partner
	 	 	 
	 	Investment
    Amount and Shares Purchased at the Closing:
	 	$150,000
    Investment Amount – 75,000 Shares Purchased
	 	 	 
	 	Tax
    ID No.:
	 	 	 
	 	ADDRESS
    FOR NOTICE
	 	 	 
	 	Facsimile
    No.:
	 	*E-mail:

 

    

     

    

  

	 	John Scarpa
	 	 
	 	/s/ John
    Scarpa
	 	John Scarpa
	 	 
	 	Investment Amount and Shares Purchased at the
    Closing:
	 	$150,000 Investment Amount – 75,000 Shares
    Purchased
	 	 
	 	Tax ID No.:
	 	 
	 	ADDRESS FOR NOTICE
	 	 
	 	c/o Unitel
	 	3122 Fire Road
	 	Suite 200
	 	Egg Harbor Township, NJ 08234
	 	Facsimile No.:
	 	*E-mail:

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