Document:

ex107conformedamendedand

Exhibit 10.7    #95685245v21   AMENDED AND RESTATED CREDIT AGREEMENT  dated as of July 26, 2017,  (originally dated as of October 27, 2014)  among  ZEBRA TECHNOLOGIES CORPORATION,  as the U.S. Borrower,  ZEBRA DIAMOND HOLDINGS LIMITED,  as the U.K. Borrower,  The Lenders Party Hereto,  and    JPMORGAN CHASE BANK, N.A.,  as Administrative Agent for the Tranche A Term Facilities and the Revolving Credit Facility    JPMORGAN CHASE BANK, N.A.,  as Collateral Agent   _____________________________  JPMORGAN CHASE BANK, N.A.,  WELLS FARGO BANK SECURITIES, LLC,  BOFA SECURITIES, INC.,  MUFG BANK, LTD.,   PNC CAPITAL MARKETS LLC,   CITIZENS BANK, N.A. , and  CAPITAL ONE, N.A.  as Joint Lead Arrangers and Joint Lead Bookrunners  FIFTH THIRD BANK,  MIZUHO BANK, LTD.,  SANTANDER BANK, N.A., and  U.S. BANK, N.A.  as Documentation Agents  and  JPMORGAN CHASE BANK, N.A.,  WELLS FARGO BANK SECURITIES, LLC,  BOFA SECURITIES, INC.,  MUFG BANK, LTD.,   PNC CAPITAL MARKETS LLC,   CITIZENS BANK, N.A. , and  CAPITAL ONE, N.A.  as Syndication Agents    

 

    ii  3141/80492-001 CURRENT/130883173v17  #95685245v21   TABLE OF CONTENTS  Page  ARTICLE I Definitions .................................................................................................................7  Section 1.01 Defined Terms .............................................................................................7  Section 1.02 Classification of Loans and Borrowings ....................................................92  Section 1.03 Terms Generally.........................................................................................92  Section 1.04 Accounting Terms; GAAP .........................................................................93  Section 1.05 Pro Forma Calculations..............................................................................94  Section 1.06 Currency Translation .................................................................................94  Section 1.07 Rounding ....................................................................................................95  Section 1.08 Timing of Payment or Performance ...........................................................95  Section 1.09 Letter of Credit Amounts ...........................................................................95  Section 1.10 Certifications ..............................................................................................96  Section 1.11 Compliance with Article VI .......................................................................96  Section 1.12 Divisions ....................................................................................................96  Section 1.13 Interest Rates; Benchmark Notification .....................................................96  ARTICLE II The Credits ............................................................................................................97  Section 2.01 Commitments .............................................................................................97  Section 2.02 Loans and Borrowings ...............................................................................97  Section 2.03 Requests for Borrowings............................................................................98  Section 2.04 Swingline Loans.......................................................................................100  Section 2.05 Letters of Credit .......................................................................................101  Section 2.06 Funding of Borrowings ............................................................................109  Section 2.07 Interest Elections ......................................................................................110  Section 2.08 Termination and Reduction of Commitments..........................................112  Section 2.09 Repayment of Loans; Evidence of Debt ..................................................113  Section 2.10 Amortization of Term Loans ...................................................................114  Section 2.11 Prepayment of Loans ...............................................................................115  Section 2.12 Fees ..........................................................................................................120  Section 2.13 Interest......................................................................................................122  Section 2.14 Alternate Rate of Interest .........................................................................123  Section 2.15 Increased Costs ........................................................................................127  Section 2.16 Break Funding Payments .........................................................................129  Section 2.17 Taxes ........................................................................................................129  Section 2.18 Payments Generally; Pro Rata Treatment; Sharing of Setoffs.................137  Section 2.19 Mitigation Obligations; Replacement of Lender .....................................140  Section 2.20 Incremental Loans ....................................................................................141  Section 2.21 Refinancing Amendments ........................................................................144  Section 2.22 Defaulting Lenders...................................................................................146  Section 2.23 Cash Collateral .........................................................................................149  Section 2.24 Extensions of Term Loans and Revolving Commitments .......................150  Section 2.25 Term Loan Exchange Notes.....................................................................154  Section 2.26 U.S. Borrower as Agent. ..........................................................................157  Section 2.27 Sustainability Targets...............................................................................157  

 

    iii  3141/80492-001 CURRENT/130883173v17  #95685245v21   ARTICLE III Representations and Warranties .....................................................................158  Section 3.01 Organization; Powers ...............................................................................158  Section 3.02 Authorization; Enforceability ..................................................................158  Section 3.03 Governmental Approvals; No Conflicts ..................................................159  Section 3.04 Financial Condition; No Material Adverse Change .................................159  Section 3.05 Properties .................................................................................................160  Section 3.06 Litigation and Environmental Matters .....................................................160  Section 3.07 Compliance with Laws ............................................................................161  Section 3.08 Investment Company Status. ...................................................................161  Section 3.09 Taxes. .......................................................................................................161  Section 3.10 ERISA ......................................................................................................161  Section 3.11 Disclosure ................................................................................................161  Section 3.12 Labor Matters ...........................................................................................162  Section 3.13 Subsidiaries ..............................................................................................162  Section 3.14 Solvency ...................................................................................................162  Section 3.15 Federal Reserve Regulations....................................................................162  Section 3.16 [Reserved] ................................................................................................162  Section 3.17 Use of Proceeds........................................................................................163  Section 3.18 Security Documents .................................................................................163  Section 3.19 OFAC; FCPA; Patriot Act .......................................................................163  Section 3.20 No Filing or Stamp Taxes ........................................................................164  Section 3.21 Beneficial Ownership Certification .........................................................164  Section 3.22 EEA Financial Institution ........................................................................164  ARTICLE IV Conditions ..........................................................................................................164  Section 4.01 Restatement Date .....................................................................................164  Section 4.02 Each Credit Event ....................................................................................166  ARTICLE V Affirmative Covenants .......................................................................................167  Section 5.01 Financial Statements and Other Information ...........................................167  Section 5.02 Notices of Material Events.......................................................................170  Section 5.03 Existence; Conduct of Business ...............................................................171  Section 5.04 Payment of Taxes .....................................................................................171  Section 5.05 Maintenance of Properties .......................................................................171  Section 5.06 Insurance ..................................................................................................172  Section 5.07 Books and Records; Inspection and Audit Rights ...................................172  Section 5.08 Compliance with Laws ............................................................................172  Section 5.09 Use of Proceeds........................................................................................173  Section 5.10 Execution of Subsidiary Guaranty and Security Documents after  the Restatement Date. ..............................................................................173  Section 5.11 Further Assurances...................................................................................174  Section 5.12 Designation of Subsidiaries .....................................................................176  Section 5.13 Conduct of Business ................................................................................177  Section 5.14 Maintenance of Ratings ...........................................................................177  Section 5.15 [Reserved] ................................................................................................177  Section 5.16 Post-Closing Covenants ...........................................................................177  Section 5.17 Transactions with Affiliates .....................................................................177  

 

    iv  3141/80492-001 CURRENT/130883173v17  #95685245v21   ARTICLE VI Negative Covenants ...........................................................................................178  Section 6.01 Indebtedness; Certain Equity Securities ..................................................178  Section 6.02 Liens .........................................................................................................183  Section 6.03 Fundamental Changes ..............................................................................187  Section 6.04 Investments ..............................................................................................189  Section 6.05 Asset Sales ...............................................................................................193  Section 6.06 Restricted Payments; Certain Payments of Indebtedness ........................196  Section 6.07 [Reserved] ................................................................................................200  Section 6.08 Restrictive Agreements ............................................................................200  Section 6.09 Amendment of Material Documents ........................................................202  Section 6.10 Change in Nature of Business ..................................................................202  Section 6.11 Financial Covenants .................................................................................202  Section 6.12 Use of Proceeds........................................................................................202  ARTICLE VII Events of Default ..............................................................................................203  Section 7.01 Events of Default .....................................................................................203  Section 7.02 Exclusion of Immaterial Subsidiaries ......................................................207  Section 7.03 Application of Proceeds. ..........................................................................207  ARTICLE VIII The Administrative Agents and Collateral Agent .......................................208  Section 8.01 Appointment of Agents ............................................................................208  Section 8.02 Rights of Lender ......................................................................................209  Section 8.03 Exculpatory Provisions ............................................................................209  Section 8.04 Reliance by Administrative Agents and Collateral Agent .......................210  Section 8.05 Delegation of Duties ................................................................................211  Section 8.06 Resignation of Agents; Successor, Administrative Agent and  Collateral Agent .......................................................................................211  Section 8.07 Non-Reliance on Agents and Other Lenders ...........................................212  Section 8.08 No Other Duties .......................................................................................212  Section 8.09 Collateral and Guaranty Matters ..............................................................213  Section 8.10 Secured Swap Agents and Secured Cash Management Agents ...............214  Section 8.11 Withholding Tax ......................................................................................214  Section 8.12 Administrative Agents and Collateral Agent May File Proofs of  Claim ........................................................................................................215  Section 8.13 Certain ERISA Matters ............................................................................216  Section 8.14 Acknowledgements of Lender and Issuing Banks ...................................217  ARTICLE IX Miscellaneous .....................................................................................................219  Section 9.01 Notices .....................................................................................................219  Section 9.02 Waivers; Amendments. ............................................................................220  Section 9.03 Expenses; Indemnity; Damage Waiver. ...................................................226  Section 9.04 Successors and Assigns............................................................................229  Section 9.05 Survival ....................................................................................................235  Section 9.06 Counterparts; Integration; Electronic Execution .....................................235  Section 9.07 Severability ..............................................................................................236  Section 9.08 Right of Setoff..........................................................................................236  Section 9.09 Governing Law; Jurisdiction; Consent to Service of Process ..................237  

 

    v  3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 9.10 WAIVER OF JURY TRIAL ....................................................................237  Section 9.11 Headings ..................................................................................................238  Section 9.12 Confidentiality .........................................................................................238  Section 9.13 Interest Rate Limitation ...........................................................................239  Section 9.14 USA Patriot Act .......................................................................................239  Section 9.15 Direct Website Communication ...............................................................240  Section 9.16 Intercreditor Agreement Governs ............................................................241  Section 9.17 Judgment Currency ..................................................................................241  Section 9.18 No Advisory or Fiduciary Responsibility ................................................242  Section 9.19 Acknowledgement and Consent to Bail-In of Affected Financial  Institutions................................................................................................242  Section 9.20 Acknowledgement Regarding Any Supported QFCs. .............................243  Section 9.21 Amendment and Restatement ..................................................................244    SCHEDULES:  Schedule 1.01  Adjustments to Consolidated EBITDA  Schedule 1.02  Excluded Subsidiaries  Schedule 1.03  Existing Letters of Credit  Schedule 1.04  Unrestricted Subsidiaries  Schedule 2.01(a) Term Commitments  Schedule 2.01(b) Revolving Commitments  Schedule 2.17(f) U.K. Treaty Lenders and U.K. Non-Bank Lenders  Schedule 2.27  Sustainability Table  Schedule 3.06  Disclosed Matters  Schedule 3.13  Subsidiaries  Schedule 5.11(c) Security Documents  Schedule 5.16  Post-Closing Matters  Schedule 5.17  Transactions with Affiliates  Schedule 6.01  Existing Indebtedness  Schedule 6.02  Existing Liens  Schedule 6.05  Asset Dispositions  Schedule 9.01  Addresses for Notices  EXHIBITS:  Exhibit A  Form of Borrowing Request  Exhibit B  Form of Interest Election Request  Exhibit C  Form of Solvency Certificate  Exhibit D  Form of Collateral Agreement  Exhibit E  Form of Subsidiary Guaranty  Exhibit F-1  Form of Term Note  Exhibit F-2  Form of Revolving Note  Exhibit G  Form of Assignment and Assumption Agreement  Exhibit H-1  Form of U.S. Tax Certificate (For Foreign Lenders That Are Not            Partnerships For U.S. Federal Income Tax Purposes)  Exhibit H-2  Form of U.S. Tax Certificate (For Foreign Lenders That Are Partnerships           For U.S. Federal Income Tax Purposes)  Exhibit H-3  Form of U.S. Tax Certificate (For Foreign Participants That Are Not  

 

    vi  3141/80492-001 CURRENT/130883173v17  #95685245v21           U.S. Persons or Partnerships For U.S. Federal Income Tax Purposes)  Exhibit H-4  Form of U.S. Tax Certificate (For Foreign Participants That Are                       Partnerships For U.S. Federal Income Tax Purposes)  Exhibit I  [Reserved]  Exhibit J  Form of Compliance Certificate  Exhibit K-1  Terms of Intercreditor Agreement (Pari Passu)  Exhibit K-2  Terms of Intercreditor Agreement (Junior Liens)  Exhibit L  Form of Parent Guaranty    

 

  7    3141/80492-001 CURRENT/130883173v17  #95685245v21   AMENDED AND RESTATED CREDIT AGREEMENT dated as of July 26, 2017  (as amended, restated, amended and restated, supplemented or otherwise modified from time to  time, this “Agreement”), among ZEBRA TECHNOLOGIES CORPORATION, a Delaware  corporation (the “U.S. Borrower”), ZEBRA DIAMOND HOLDINGS LIMITED, a private  company limited by guarantee incorporated under the laws of England with company number  08100061 and registered office at Dukes Meadow, Millboard Road, Bourne End,  Buckinghamshire, SL8 5XF, United Kingdom (the “U.K. Borrower”), the LENDERS party hereto  and JPMORGAN CHASE BANK, N.A., as Revolving Facility Administrative Agent, Tranche A  Term Loan Administrative Agent and Collateral Agent.  WHEREAS, capitalized terms used in these recitals shall have the respective  meanings set forth for such terms in Article I;  WHEREAS, the U.S. Borrower is party to the Credit Agreement dated as of  October 27, 2014, among the U.S. Borrower, the “Lenders” as defined therein (the “Existing  Lenders”) and JPMorgan Chase Bank, N.A. as administrative agent for the revolving facility and  Morgan Stanley Senior Funding, Inc. as administrative agent for the term loan facility and  collateral agent (as amended, restated, supplemented or otherwise modified prior to the  Restatement Date (as defined below), the “Existing Credit Agreement”);  WHEREAS, subject to and upon the terms and conditions set forth herein, the  parties hereto wish to amend and restate the Existing Credit Agreement in its entirety in the form  of this Agreement;  NOW THEREFORE, in consideration of the premises, provisions, covenants and  mutual agreements contained herein and other good and valuable consideration, the sufficiency  and receipt of which are hereby acknowledged, the Existing Credit Agreement shall be and is  hereby amended and restated 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, is bearing interest at a rate determined by  reference to the Alternate Base Rate.  All ABR Loans and ABR Borrowings shall be denominated  in Dollars.  “Accounting Change” has the meaning assigned to such term in Section 1.04.  “Acquisition” means any acquisition by the U.S. Borrower or any Restricted  Subsidiary, whether by purchase, merger, consolidation, contribution or otherwise, of (w) at least  a majority of the assets or property and/or liabilities (or any other substantial part for which  financial statements or other financial information is available), or a business line, product line,  unit or division, of any other Person, (x) Equity Interests of any other Person such that such other  

 

  8    3141/80492-001 CURRENT/130883173v17  #95685245v21   Person becomes a Restricted Subsidiary or (y) additional Equity Interests of any Restricted  Subsidiary not then held by the U.S. Borrower or any Restricted Subsidiary.  “Additional Lender” has the meaning assigned to such term in Section 2.20(d).  “Additional Debt” means debt (including, as applicable, Registered Equivalent  Notes), in each case issued or incurred by the U.S. Borrower or any of its Restricted Subsidiaries  after the Restatement Date that (i) does not require any scheduled payment of principal (including  pursuant to a sinking fund obligation) or mandatory redemption or redemption at the option of the  holders thereof (except for redemptions in respect of asset sales, changes in control or similar  events on terms that are market terms on the date of issuance and AHYDO Catch-Up Payments)  prior to the date that is ninety-one (91) days after the Latest Maturity Date in respect of Term  Loans in effect as of the time such Additional Debt is incurred and (ii) the covenants and events  of default and other terms of which (other than maturity, fees, discounts, interest rate, redemption  terms and redemption premiums, which shall be determined in good faith by the applicable  Borrower) shall be on market terms at the time of issuance (as determined in good faith by the  applicable Borrower) of the Additional Debt; provided that the Additional Debt shall not have the  benefit of any financial maintenance covenant unless (x) the Term Loans have the benefit of such  financial maintenance covenant on the same terms or (y) the Term Loans have in the future been  provided with the benefit of a financial maintenance covenant, in which case such Additional Debt  issued after such future date may be provided with the benefit of the same financial maintenance  covenant on the same terms.  “Additional Refinancing Lender” has the meaning assigned to such term in Section  2.21.  “Additional Term Notes” means first priority senior secured notes and/or junior  lien secured notes and/or unsecured notes, in each case issued pursuant to an indenture, note  purchase agreement or other agreement and in lieu of the incurrence of a portion of the Incremental  Term Facility; provided that (a) such Additional Term Notes rank pari passu or junior in right of  payment and (if secured) of security with the Term Loans hereunder, (b) the Additional Term  Notes have a final maturity date that is on or after the then existing Latest Maturity Date with  respect to the Term Loans and have a Weighted Average Life to Maturity equal to or longer than  the remaining Weighted Average Life to Maturity of the then existing Term Loans (without giving  effect to nominal amortization for periods where amortization has been eliminated as a result of a  prepayment of the applicable Term Loans), (c) the covenants and events of default and other terms  of which (other than maturity, fees, discounts, interest rate, redemption terms and redemption  premiums, which shall be determined in good faith by the applicable Borrower) shall be on terms  that are not materially more restrictive to the applicable Borrower, taken as a whole, than the terms  of the existing Term Loans unless (x) the Lenders under the existing Term Loans also receive the  benefit of such more restrictive terms or (y) any such provisions apply only after the Latest  Maturity Date with respect to the Term Loans, (d) the obligations in respect thereof shall not be  secured by liens on the assets of the U.S. Borrower and its Subsidiaries, other than assets  constituting Collateral, (e) no Subsidiary is a borrower or a guarantor with respect to such  Indebtedness unless such Subsidiary is a Loan Party which shall have previously or substantially  concurrently guaranteed or borrowed, as applicable, the Obligations, (f) if such Additional Term  Notes are secured, all security therefor shall be granted pursuant to documentation that is consistent  

 

  9    3141/80492-001 CURRENT/130883173v17  #95685245v21   in all material respects with the Security Documents and the representative for such Additional  Term Notes shall enter into a customary intercreditor agreement with the Collateral Agent  substantially consistent with the terms set forth on Exhibit K-1 or K-2 annexed hereto together  with (A) any immaterial changes and (B) material changes thereto in light of prevailing market  conditions, which material changes shall be posted to the Lenders and, unless the Required Lenders  shall have objected in writing to such changes within five (5) Business Days after such posting,  then the Required Lenders shall be deemed to have agreed that the Collateral Agent’s entering into  such intercreditor agreement (with such changes) is reasonable and to have consented to such  intercreditor agreement (with such changes) and to the Collateral Agent’s execution thereof, in  each case in form and substance reasonably satisfactory to the Collateral Agent (it being  understood that junior Liens are not required to be pari passu with other junior Liens, and that  Indebtedness secured by junior Liens may be secured by Liens that are pari passu with, or junior  in priority to, other Liens that are junior to the Liens securing the Obligations) and (g) immediately  after giving effect to the incurrence of such Additional Term Notes (assuming, solely for purposes  of this definition at the time of incurrence and not for any other provision hereunder, that (I) all  Additional Term Notes, all Incremental Facilities and all Additional Debt secured by Liens under  Section 6.02(q) or Section 6.02(hh), in each case established on or prior to such date, are secured,  whether or not so secured, and (II) the proceeds of such Additional Term Notes are not included  as unrestricted cash and Cash Equivalents in clause (i) of the definition of “Total Secured Net  Leverage Ratio”; provided that, to the extent the proceeds of such Additional Term Notes are to  be used to prepay Indebtedness, the use of such proceeds for the prepayment of such Indebtedness  may be given pro forma effect), on a Pro Forma Basis, the Total Secured Net Leverage Ratio shall  not be greater than 3.00 to 1.00 as of the Applicable Date of Determination.  “Adjusted CDOR Rate” means, with respect to any Term Benchmark Borrowing  denominated in Canadian Dollars for any Interest Period, an interest rate per annum equal to (a)  the CDOR Rate for such Interest Period, multiplied by (b) the Statutory Reserve Rate; provided  that if the CDOR Rate as so determined would be less than the Floor, such rate shall be deemed to  be equal to the Floor for the purposes of this Agreement.  “Adjusted Daily Simple RFR” means, (i) with respect to any RFR Borrowing  denominated in Sterling, an interest rate per annum equal to the Daily Simple RFR for Sterling  and (ii) with respect to any RFR Borrowing denominated in Dollars, an interest rate per annum  equal to (a) the Daily Simple RFR for Dollars, plus (b) 0.10%; provided that if the Adjusted Daily  Simple RFR Rate as so determined would be less than the Floor, such rate shall be deemed to be  equal to the Floor for the purposes of this Agreement.   “Adjusted EURIBOR Rate” means, with respect to any Term Benchmark  Borrowing denominated in Euros for any Interest Period, an interest rate per annum equal to (a)  the EURIBOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided  that if the Adjusted EURIBOR Rate as so determined would be less than the Floor, such rate shall  be deemed to be equal to the Floor for the purposes of this Agreement.  “Adjusted Term SOFR Rate” means, with respect to any Term Benchmark  Borrowing denominated in Dollars for any Interest Period, an interest rate per annum equal to (a)  the Term SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term  

 

  10    3141/80492-001 CURRENT/130883173v17  #95685245v21   SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal  to the Floor for the purposes of this Agreement.  “Administrative Agents” means, collectively, the Tranche A Term Loan  Administrative Agent and the Revolving Facility Administrative Agent.  “Administrative Agent’s Office” means, with respect to any Administrative Agent,  such Administrative Agent’s address and, as appropriate, account as set forth on Schedule 9.01, or  such other address or account as such Administrative Agent may from time to time notify the  Borrowers and the Lenders.  “Administrative Questionnaire” means an administrative questionnaire in a form  supplied by the applicable Administrative Agent.  “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any  U.K. Financial Institution.  “Affiliate” means, with respect to a specified Person, another Person that directly,  or indirectly through one or more intermediaries, Controls or is Controlled by or is under common  Control with the Person specified.  “Agent” means any of the Revolving Facility Administrative Agent, the Tranche A  Term Loan Administrative Agent or the Collateral Agent.  “Agreed Currencies” means Dollars and each Alternative Currency.  “Agreement” has the meaning assigned to such term in the preamble to this  Agreement.  “Agreement Currency” has the meaning assigned to such term in Section 9.17.  “AHYDO Catch-Up Payment” means any payment with respect to any obligations  of the U.S. Borrower or any Restricted Subsidiary, including subordinated debt obligations and  obligations in respect of the Senior Notes, in each case to avoid the application of Code Section  163(e)(5) thereto.  “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 NYFRB Rate in effect on such day plus 1⁄2 of 1%  and (c) the Adjusted Term SOFR Rate for a one month Interest Period as published two (2) U.S.  Government Securities Business Days prior to such day (or if such day is not a Business Day, the  immediately preceding Business Day) plus 1%; provided that for the purpose of this definition,  the Adjusted Term SOFR Rate for any day shall be based on the Term SOFR Reference Rate at  approximately 5:00 a.m. Chicago time on such day (or any amended publication time for the Term  SOFR Reference Rate, as specified by the CME Term SOFR Administrator in the Term SOFR  Reference Rate methodology).  Any change in the Alternate Base Rate due to a change in the  Prime Rate, the NYFRB Rate or the Adjusted Term SOFR Rate shall be effective from and  including the effective date of such change in the Prime Rate, the NYFRB Rate or the Adjusted  Term SOFR Rate, respectively.  If the Alternate Base Rate is being used as an alternate rate of  

 

  11    3141/80492-001 CURRENT/130883173v17  #95685245v21   interest pursuant to Section 2.14 (for the avoidance of doubt, only until the Benchmark  Replacement has been determined pursuant to Section 2.14(b)), then the Alternate Base Rate shall  be the greater of clauses (a) and (b) above and shall be determined without reference to clause (c)  above.  For the avoidance of doubt, if the Alternate Base Rate as determined pursuant to the  foregoing would be less than 1.00%, such rate shall be deemed to be 1.00% for purposes of this  Agreement.  “Alternative Currency” means (a) with respect to Letters of Credit, Euros,  Canadian Dollars, Australian Dollars, Sterling, Swedish Krona, Norwegian Kroner, Danish  Kroner, Yen, Hong Kong Dollars, Singapore Dollars, Rand, Mexican Pesos, and any other  currency other than Dollars that may be agreed with the relevant Issuing Bank, each Revolving  Lender and the Revolving Facility Administrative Agent for issuing Letters of Credit in Alternative  Currencies; (b) with respect to any Revolving Loans, Euros, Sterling, Canadian Dollars and any  other currency other than Dollars that may be agreed with all of the Revolving Lenders and the  Revolving Facility Administrative Agent; and (c) with respect to any Incremental Term Loans and  Incremental Revolving Commitments (and Incremental Loans made pursuant thereto), any  currency other than Dollars that may be agreed among the applicable Borrower and all of the  applicable Lenders providing such Loans and Commitments.  “Alternative Currency LC Exposure” means, at any time, the sum of (a) the Dollar  Equivalent of the aggregate undrawn amount of all outstanding Letters of Credit denominated in  an Alternative Currency at such time, and (b) the Dollar Equivalent of the aggregate amount of all  LC Disbursements in respect of Letters of Credit made in an Alternative Currency that have not  yet been reimbursed by or on behalf of the U.S. Borrower at such time.  The Alternative Currency  LC Exposure of any Revolving Lender shall be its Applicable Percentage of the aggregate  Alternative Currency LC Exposure at such time.  “Alternative Currency LC Sublimit” means the lowest of (x) $10,000,000, (y) the  LC Sublimit and (z) the aggregate amount of Revolving Commitments.  The Alternative Currency  LC Sublimit is part of, and not in addition to, the LC Sublimit and the Revolving Facility.  “Amendment No. 1” means Amendment No. 1 to this Agreement, dated as of May  31, 2018, among the Loan Parties, the Lenders party thereto, the Administrative Agents and the  other parties thereto.  “Amendment No. 1 Effective Date” means May 31, 2018.  “Amendment No. 2” means Amendment No. 2 to this Agreement, dated as of  August 9, 2019, among the Loan Parties, the Lenders party thereto and the Administrative Agents.  “Amendment No. 2 Effective Date” means August 9, 2019.  “Amendment No. 3” means Amendment No. 3 to this Agreement, dated as of May  25, 2022, among the Loan Parties, the Lenders party thereto, the Administrative Agents and the  other parties thereto.  “Amendment No. 3 Effective Date” means May 25, 2022.  

 

  12    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Applicable Date of Determination” means the last day of the most recently ended  fiscal quarter for which financial statements are available pursuant to Section 5.01(a) or (b), as  applicable, or, at any time prior to the date on which financial statements are available pursuant to  Section 5.01(a) or (b), as applicable, the last day of the most recently ended fiscal quarter for which  financial statements were delivered under Section 4.01.  “Applicable Discount Notice” has the meaning assigned to such term in the  definition “Dutch Auction”.  “Applicable Margin” means, for any day with respect to (I)(a) any Term Loan, the  applicable rate set forth below under the heading “Term Benchmark Loan”, “RFR Loan” or “ABR  Loan” as applicable, based upon the Total Net Leverage Ratio as of the most recent determination  date:   Term Loans  Total Net Leverage Ratio:  Term Benchmark  Loan RFR Loan ABR Loan   Category 4  Greater than 3.50:1.00 1.75% 1.75% 0.75%  Category 3  Less than or equal to 3.50:1.00,   but greater than 2.50:1.00  1.50% 1.50% 0.50%  Category 2  Less than or equal to 2.50:1.00,   but greater than 1.50:1.00  1.25% 1.25% 0.25%  Category 1  Less than or equal to 1.50:1.00  1.00% 1.00% 0.00%    (b) any Revolving Loan and the commitment fees payable pursuant to Section  2.12(a), the applicable rate set forth below under the heading “Term Benchmark Loan”, “RFR  

 

  13    3141/80492-001 CURRENT/130883173v17  #95685245v21   Loan,” “ABR Loan or Canadian Prime Loan” or “Commitment Fee Rate” as applicable, based  upon the Total Net Leverage Ratio as of the most recent determination date:   Revolving Facility  Total Net Leverage Ratio:  Term  Benchmark  Loan RFR Loan  ABR Loan  or  Canadian  Prime  Loan  Commitment  Fee Rate  Category 4  Greater than 3.50:1.00  1.75% 1.75% 0.75% 0.300%  Category 3  Less than or equal to 3.50:1.00,   but greater than 2.50:1.00  1.50% 1.50% 0.50% 0.250%  Category 2  Less than or equal to 2.50:1.00,   but greater than 1.50:1.00  1.25% 1.25% 0.25% 0.225%  Category 1  Less than or equal to 1.50:1.00 1.00% 1.00% 0.00% 0.175%    and (II) with respect to Incremental Facilities, Other Term Loans, Other Revolving Loans, Other  Revolving Commitments, Extended Term Loans, Extended Revolving Loans or Extended  Revolving Commitments, the rate per annum specified in the amendment establishing such  Incremental Facilities, Other Term Loans, Other Revolving Loans, Other Revolving  Commitments, Extended Term Loans, Extended Revolving Loans or Extended Revolving  Commitments.  For purposes of the foregoing, the Total Net Leverage Ratio shall be determined on  a Pro Forma Basis as of the end of each fiscal quarter of the U.S. Borrower following the delivery  of the Compliance Certificate for such fiscal quarter, and each change in the Applicable Margin  resulting from a change in the Total Net Leverage Ratio shall be effective during the period  commencing on and including the date of delivery to the Revolving Facility Administrative Agent  and/or the Tranche A Term Loan Administrative Agent, as applicable, of such certificate of the  U.S. Borrower’s Financial Officer indicating such change and ending on the date immediately  preceding the effective date of the next such change; provided that the Total Net Leverage Ratio  shall be deemed to be (x) in Category 4, if the U.S. Borrower fails to deliver any such Compliance  Certificate during the period from the date that is five (5) Business Days after the expiration of the  time for delivery thereof until such Compliance Certificate is delivered, and (y) in Category 2 until  

 

  14    3141/80492-001 CURRENT/130883173v17  #95685245v21   the delivery of a Compliance Certificate for the first full fiscal quarter commencing on or after the  Amendment No. 3 Effective Date.  “Applicable Order of Purchase” has the meaning assigned to such term in the  definition “Dutch Auction”.  “Applicable Percentage” means, at any time with respect to any Revolving Lender  with a Revolving Commitment of any Class, the percentage of the aggregate Commitments of such  Class outstanding at such time represented by such Lender’s Commitment with respect to such  Class at such time. If the Commitments of such Class have terminated or expired, the Applicable  Percentage shall be determined based upon the Commitments of such Class most recently in effect,  giving effect to any assignments of such Class of Revolving Loans and LC Exposures that occur  after such termination or expiration.  “Applicable Time” means, with respect to any payments in any Alternative  Currency, the local time in the place of settlement for such Alternative Currency as may be  determined by the applicable Issuing Bank to be necessary for timely settlement on the relevant  date in accordance with normal banking procedures in the place of payment.  “Approved Fund” has the meaning assigned to such term in Section 9.04(b).  “Assignment and Assumption” means an assignment and assumption entered into  by a Lender and an assignee (with the consent of any party whose consent is required by Section  9.04), and accepted by the applicable Administrative Agent pursuant to the terms hereof,  substantially in the form of Exhibit G or any other form or changes thereto approved by the  applicable Administrative Agent and the applicable Borrower.  “Auction” has the meaning assigned to such term in the definition “Dutch Auction”.  “Auction Amount” has the meaning assigned to such term in the definition “Dutch  Auction”.  “Auction Expiration Time” has the meaning assigned to such term in the definition  “Dutch Auction”.  “Auction Notice” has the meaning assigned to such term in the definition “Dutch  Auction”.  “Auction Party” or “Auction Parties” has the meaning assigned to such term in the  definition of “Dutch Auction” or as specified in Section 2.11(i), as the context may require.  “Australian Dollars” refers to lawful money of Australia.  “Auto-Renewal Letter of Credit” has the meaning specified in Section 2.05(c).  “Available Amount” means, on any date of determination (the “Reference Date”),  an amount (which shall not be less than zero) determined on a cumulative basis equal to the sum  of (without duplication):  

 

  15    3141/80492-001 CURRENT/130883173v17  #95685245v21   (a) $260,000,000; plus  (b) an amount (which shall not be less than zero) equal to 50% of Consolidated Net  Income for the period from the first day of the fiscal quarter of the U.S. Borrower during which  the Restatement Date occurred to and including the last day of the most recently ended fiscal  quarter of the U.S. Borrower prior to the Reference Date for which internal consolidated financial  statements of the U.S. Borrower are available (or, in the case such Consolidated Net Income for  such period is in deficit, minus 100% of such deficit); plus  (c) to the extent not otherwise reflected in Consolidated Net Income, the cumulative  amount of (A) any capital contributions made in cash by any Person other than a Restricted  Subsidiary to the U.S. Borrower after the Restatement Date and (B) any Net Proceeds of any  issuance of Qualified Equity Interests after the Restatement Date by the U.S. Borrower to any  Person other than a Restricted Subsidiary; plus  (d) to the extent not otherwise reflected in Consolidated Net Income, 100% of the fair  market value (as determined in good faith by the U.S. Borrower) of marketable securities or other  property contributed to the Qualified Equity Interests of the U.S. Borrower after the Restatement  Date by any Person other than a Restricted Subsidiary; plus  (e) to the extent not otherwise included in clause (b) above, the aggregate amount  received by the U.S. Borrower or any Restricted Subsidiary after the Restatement Date from cash  (or Cash Equivalents) dividends and distributions made by any Unrestricted Subsidiary or any  Joint Venture in respect of Investments made by the U.S. Borrower or any Restricted Subsidiary  to any Unrestricted Subsidiary or Joint Venture, and the Net Proceeds in connection with the sale,  transfer or other disposition of assets or the Equity Interests of any Unrestricted Subsidiary or Joint  Venture of the U.S. Borrower to any Person other than the U.S. Borrower or a Restricted  Subsidiary after the Restatement Date, in each case to the extent not already reflected as a Return  with respect to such Investment credited to any basket amount under Section 6.04; plus  (f) in the event that the U.S. Borrower redesignates any Unrestricted Subsidiary as a  Restricted Subsidiary after the Restatement Date (which, for purposes hereof, shall be deemed to  also include (A) the merger, consolidation, liquidation or similar amalgamation of any Unrestricted  Subsidiary into the U.S. Borrower or any Restricted Subsidiary, so long as the U.S. Borrower or  such Restricted Subsidiary is the surviving Person, and (B) the transfer of all or substantially all  of the assets of an Unrestricted Subsidiary to the U.S. Borrower or any Restricted Subsidiary), the  fair market value (as determined in good faith by the U.S. Borrower) of the Investment in such  Unrestricted Subsidiary at the time of such redesignation; plus  (g) the aggregate amount of Retained Declined Proceeds retained by the U.S.  Borrower or any of its Restricted Subsidiaries; plus  (h) the fair market value of all Qualified Equity Interests of the U.S. Borrower issued  upon conversion or exchange of Indebtedness or Disqualified Equity Interests of the U.S. Borrower  or any of its Restricted Subsidiaries after the Restatement Date; plus  

 

  16    3141/80492-001 CURRENT/130883173v17  #95685245v21   (i) to the extent not otherwise included, the aggregate amount of cash Returns to the  U.S. Borrower or any Restricted Subsidiary in respect of Investments made pursuant to Section  6.04(z); minus  (j) the aggregate amount of (A) Restricted Payments made using the Available  Amount pursuant to Section 6.06(a)(xiv), (B) Investments made using the Available Amount  pursuant to Section 6.04(z) and (C) prepayments, redemptions, acquisitions, retirements,  cancellations, terminations and repurchases of Indebtedness made using the Available Amount  pursuant to Section 6.06(b)(vi)(B), in each case during the period from and including the Business  Day immediately following the Restatement Date through and including the Reference Date  (without taking account of the intended usage of the Available Amount on such Reference Date  for which such determination is being made, but taking into account any other such usage on such  date).  “Available Tenor” means, as of any date of determination and with respect to the  then-current Benchmark for any Agreed Currency, as applicable, any tenor for such Benchmark  (or component thereof) or payment period for interest calculated with reference to such Benchmark  (or component thereof), as applicable, that is or may be used for determining the length of an  Interest Period for any term rate or otherwise, for determining any frequency of making payments  of interest calculated pursuant to this Agreement as of such date and not including, for the  avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of  “Interest Period” pursuant to clause (e) of Section 2.14.  “Bail-In Action” means the exercise of any Write-Down and Conversion Powers  by the applicable Resolution Authority in respect of any liability of an Affected Financial  Institution.  “Bail-In Legislation” means (a) 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, regulation, rule or requirement for such EEA  Member Country from time to time which is described in the EU Bail-In Legislation Schedule and  (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as  amended from time to time) and any other law, regulation or rule applicable in the United Kingdom  relating to the resolution of unsound or failing banks, investment firms or other financial  institutions or their affiliates (other than through liquidation, administration or other insolvency  proceedings).  “Bank Levy” means the U.K. bank levy as set out in the U.K. Finance Act 2011 (as  amended).  “Bankruptcy Code” means Title 11 of the United States Code entitled  “Bankruptcy”, as now and hereafter in effect, or any successor statute.  “Base Exchange Amount” has the meaning ascribed thereto in Section 2.25(a).  “Benchmark” means, initially, with respect to any (i) RFR Loan in any Agreed  Currency, the applicable Relevant Rate for such Agreed Currency or (ii) Term Benchmark Loan  

 

  17    3141/80492-001 CURRENT/130883173v17  #95685245v21   in any Agreed Currency, the applicable Relevant Rate for such Agreed Currency; provided that if  a Benchmark Transition Event, and the related Benchmark Replacement Date have occurred with  respect to the applicable Relevant Rate or the then-current Benchmark for such Agreed Currency,  then “Benchmark” means the applicable Benchmark Replacement to the extent that such  Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (b) of Section  2.14.  “Benchmark Replacement” means, for any Available Tenor, the first alternative set  forth in the order below that can be determined by the applicable Administrative Agent for the  applicable Benchmark Replacement Date; provided that, in the case of any Loan denominated in  an Alternative Currency, “Benchmark Replacement” shall mean the alternative set forth in (b)  below:  (a) in the case of any Loan denominated in Dollars, the Daily Simple SOFR  plus 0.10%;  (b) the sum of: (A) the alternate benchmark rate that has been selected by the  applicable Administrative Agent and the U.S. Borrower as the replacement for the then-current  Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection  or recommendation of a replacement benchmark rate or the mechanism for determining such a rate  by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for  determining a benchmark rate as a replacement for the then-current Benchmark for syndicated  credit facilities denominated in the applicable Agreed Currency at such time in the United States  and (B) the related Benchmark Replacement Adjustment;  If the Benchmark Replacement as determined pursuant to clause (a) or (b) above  would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the  purposes of this Agreement and the other Loan Documents.  “Benchmark Replacement Adjustment” means, with respect to any replacement of  the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable  Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement,  the spread adjustment, or method for calculating or determining such spread adjustment, (which  may be a positive or negative value or zero) that has been selected by the applicable Administrative  Agent and the U.S. Borrower for the applicable Corresponding Tenor giving due consideration to  (i) any selection or recommendation of a spread adjustment, or method for calculating or  determining such spread adjustment, for the replacement of such Benchmark with the applicable  Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable  Benchmark Replacement Date and/or (ii) any evolving or then-prevailing market convention for  determining a spread adjustment, or method for calculating or determining such spread adjustment,  for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement  for syndicated credit facilities denominated in the applicable Agreed Currency at such time.  “Benchmark Replacement Conforming Changes” means, with respect to any  Benchmark Replacement and/or any Term Benchmark Revolving Loan denominated in Dollars,  any technical, administrative or operational changes (including changes to the definition of  “Alternate Base Rate”, the definition of “Business Day”, the definition of “U.S. Government  

 

  18    3141/80492-001 CURRENT/130883173v17  #95685245v21   Securities Business Day”, the definition of “RFR Business Day”, the definition of “Interest  Period”, timing and frequency of determining rates and making payments of interest, timing of  borrowing requests or prepayment, conversion or continuation notices, length of lookback periods,  the applicability of breakage provisions, and other technical, administrative or operational matters)  that the applicable Administrative Agent decides (in consultation with the U.S. Borrower) may be  appropriate to reflect the adoption and implementation of such Benchmark and to permit the  administration thereof by the applicable Administrative Agent in a manner substantially consistent  with market practice (or, if the applicable Administrative Agent decides that adoption of any  portion of such market practice is not administratively feasible or if the applicable Administrative  Agent determines that no market practice for the administration of such Benchmark exists, in such  other manner of administration as the applicable Administrative Agent (acting reasonably and in  consultation with the U.S. Borrower) decides is reasonably necessary in connection with the  administration of this Agreement and the other Loan Documents).  “Benchmark Replacement Date” means, with respect to any Benchmark, the  earliest to occur of the following events with respect to such then-current Benchmark:  (a) in the case of clause (a) or (b) of the definition of “Benchmark Transition  Event,” the later of (A) the date of the public statement or publication of information referenced  therein and (B) the date on which the administrator of such Benchmark (or the published  component used in the calculation thereof) permanently or indefinitely ceases to provide all  Available Tenors of such Benchmark (or such component thereof); or  (b) in the case of clause (c) of the definition of “Benchmark Transition Event,”  the first date on which such Benchmark (or the published component used in the calculation  thereof) has been determined and announced by the regulatory supervisor for the administrator of  such Benchmark (or such component thereof) to be no longer representative; provided that such  non-representativeness will be determined by reference to the most recent statement or publication  referenced in such clause (c) and even if any Available Tenor of such Benchmark (or such  component thereof) continues to be provided on such date.  For the avoidance of doubt, (i) if the event giving rise to the Benchmark  Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of  any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the  Reference Time for such determination and (ii) the “Benchmark Replacement Date” will be  deemed to have occurred in the case of clause (a) or (b) with respect to any Benchmark upon the  occurrence of the applicable event or events set forth therein with respect to all then-current  Available Tenors of such Benchmark (or the published component used in the calculation thereof).  “Benchmark Transition Event” means, with respect to any Benchmark, the  occurrence of one or more of the following events with respect to such then-current Benchmark:  (a)  a public statement or publication of information by or on behalf of the  administrator of such Benchmark (or the published component used in the calculation thereof)  announcing that such administrator has ceased or will cease to provide all Available Tenors of  such Benchmark (or such component thereof), permanently or indefinitely, provided that, at the  

 

  19    3141/80492-001 CURRENT/130883173v17  #95685245v21   time of such statement or publication, there is no successor administrator that will continue to  provide any Available Tenor of such Benchmark (or such component thereof);  (b)  a public statement or publication of information by the regulatory  supervisor for the administrator of such Benchmark (or the published component used in the  calculation thereof), the Federal Reserve Board, the NYFRB, the CME Term SOFR Administrator,  the central bank for the Agreed Currency applicable to such Benchmark, an insolvency official  with jurisdiction over the administrator for such Benchmark (or such component), a resolution  authority with jurisdiction over the administrator for such Benchmark (or such component) or a  court or an entity with similar insolvency or resolution authority over the administrator for such  Benchmark (or such component), in each case, which states that the administrator of such  Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such  Benchmark (or such component thereof) permanently or indefinitely; provided that, at the time of  such statement or publication, there is no successor administrator that will continue to provide any  Available Tenor of such Benchmark (or such component thereof); or  (c)  a public statement or publication of information by the regulatory  supervisor for the administrator of such Benchmark (or the published component used in the  calculation thereof) announcing that all Available Tenors of such Benchmark (or such component  thereof) are no longer, or as of a specified future date will no longer be, representative.  For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to  have occurred with respect to any Benchmark if a public statement or publication of information  set forth above has occurred with respect to each then-current Available Tenor of such Benchmark  (or the published component used in the calculation thereof).  “Benchmark Unavailability Period” means, with respect to any Benchmark, the  period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clauses  (a) or (b) of that definition has occurred if, at such time, no Benchmark Replacement has replaced  such then-current Benchmark for all purposes hereunder and under any Loan Document in  accordance with Section 2.14 and (y) ending at the time that a Benchmark Replacement has  replaced such then-current Benchmark for all purposes hereunder and under any Loan Document  in accordance with Section 2.14.  “Beneficial Owner” means, (i) in the case of a Lender that is classified as a  partnership for U.S. federal income tax purposes, the direct or indirect partner or owner of such  Lender that is treated, for U.S. federal income tax purposes, as the beneficial owner of a payment  by any Loan Party under any Loan Document and (ii) in the case of each Borrower, each of the  following:  (a) each individual, if any, who, directly or indirectly, owns 10% or more of such  Borrower’s Equity Interests; and (b) a single individual with significant responsibility to control,  manage, or direct such Borrower.  “Beneficial Ownership Certification” means a certification regarding beneficial  ownership required by the Beneficial Ownership Regulation, which certification shall be  substantially similar in form and substance to the form of Certification Regarding Beneficial  Owners of Legal Entity Customers published jointly, in May 2018, by the Loan Syndications and  Trading Association and Securities Industry and Financial Markets Association.  

 

  20    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.  “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA)  that is subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the  Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise  for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee  benefit plan” or “plan”.  “BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under,  and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.  “Borrowers” means, collectively, the U.S. Borrower and the U.K. Borrower.  “Borrower Materials” has the meaning assigned to such term in Section 5.01.  “Borrowing” means Loans of the same Class and Type, made, converted or  continued on the same date and, in the case of Term Benchmark Loans, as to which a single Interest  Period is in effect.  “Borrowing Request” means a request by a Borrower for a Borrowing in  accordance with Section 2.03 substantially in the form of Exhibit A hereto.  “Business Day” means, any day (other than a Saturday or a Sunday) on which banks  are open for business in New York City, Chicago and London; provided that, (a) in relation to  Loans denominated in Sterling, any day (other than a Saturday or a Sunday) on which banks are  open for business in London, (b) in relation to Loans denominated in Canadian Dollars and in  relation to the calculation or computation of CDOR, any day (other than a Saturday or a Sunday)  on which banks are open for business in Canada, (c) in relation to Loans denominated in Euros  and in relation to the calculation or computation of EURIBOR, any day which is a TARGET Day  and (d) in relation to RFR Loans and any interest rate settings, fundings, disbursements,  settlements or payments of any such RFR Loan, or any other dealings in the applicable Agreed  Currency of such RFR Loan, any such day that is only an RFR Business Day.  “Canadian Dollars” and the sign “C$” means lawful money of Canada.  “Canadian Prime” when used in reference to any Loan or Borrowing denominated  in Canadian Dollars, refers to whether such Loan, or the Loans comprising such Borrowing, are  bearing interest at a rate determined by reference to the Canadian Prime Rate.   “Canadian Prime Rate” means, on any day, a rate per annum determined by the  Revolving Facility Administrative Agent to be the higher of (a) the rate equal to the PRIMCAN  Index rate that appears on the Bloomberg screen at 10:15 a.m. Toronto, Ontario time on such day  (or, in the event that the PRIMCAN Index is not published by Bloomberg, any other information  service that publishes such index from time to time, as selected by the Revolving Facility  Administrative Agent in its reasonable discretion), and (b) the CDOR Rate for a one month Interest  Period at approximately 10:15 a.m. Toronto, Ontario time on such day (and, if such day is not a  Business Day, then on the immediately preceding Business Day (as adjusted by Revolving Facility  

 

  21    3141/80492-001 CURRENT/130883173v17  #95685245v21   Administrative Agent after 10:15 a.m. Toronto, Ontario time to reflect any error in the posted rate  of interest or in the posted average annual rate of interest)), rounded to the nearest 1/100th of 1%  (with .005% being rounded up), plus 1% per annum; provided, that if any the above rates shall be  less than 1% per annum, such rate shall be deemed to be 1% per annum for purposes of this  Agreement.  Any change in the Canadian Prime Rate due to a change in the PRIMCAN Index or  the CDOR Rate shall be effective from and including the effective date of such change in the  PRIMCAN Index or CDOR Rate, respectively.  If the Canadian Prime Rate is being used as an  alternate rate of interest pursuant to Section 2.14 (for the avoidance of doubt, only until the  applicable Benchmark Replacement has been determined pursuant to Section 2.14(b)), then the  Canadian Prime Rate shall be determined solely by reference to clause (a) above and shall be  determined without reference to clause (b) above.   “Capital Expenditures” means, for any period, the additions to property, plant and  equipment of the U.S. Borrower and its Restricted Subsidiaries that are (or should be) set forth in  a consolidated statement of cash flows of the U.S. Borrower and its Restricted Subsidiaries for  such period prepared in accordance with GAAP, but excluding in each case any such expenditure  (i) made to restore, replace, rebuild, develop, maintain, improve or upgrade property, to the extent  such expenditure is made with, or subsequently reimbursed out of, insurance proceeds, indemnity  payments, condemnation or similar awards (or payments in lieu thereof) or damage recovery  proceeds or other settlements relating to any damage, loss, destruction or condemnation of such  property, (ii) constituting reinvestment of the Net Proceeds of any event described in clause (a) or  (b) of the definition of the term “Prepayment Event,” (iii) made by the U.S. Borrower or any  Restricted Subsidiary as payment of the consideration for any Acquisition (including any property,  plant and equipment obtained as a part thereof), (iv) made by the U.S. Borrower or any Restricted  Subsidiary to effect leasehold improvements to any property leased by the U.S. Borrower or such  Restricted Subsidiary as lessee, to the extent that such expenses have been reimbursed by the  landlord, (v) actually paid for by a third party (excluding the U.S. Borrower or any Restricted  Subsidiary) and for which none of the U.S. Borrower or any Restricted Subsidiary has provided or  is required to provide or incur, directly or indirectly, any consideration or monetary obligation to  such third party or any other Person (whether before, during or after such period), (vi) constituting  Capitalized Software Expenditures or research and development expenditures that are treated as  additions to property, plant and equipment or other capital expenditures in accordance with GAAP,  (vii) made with the Net Proceeds from any issuance of Qualified Equity Interests of any Borrower,  and (viii) the purchase price of equipment that is purchased simultaneously with the trade in or  sale of existing equipment.  “Capital Lease Obligations” of any Person means, subject to Section 1.04, 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 or financing 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.  “Capitalized Software Expenditures” means, for any period, the aggregate of all  expenditures (whether paid in cash or accrued as liabilities) by the U.S. Borrower and its Restricted  Subsidiaries during such period in respect of purchased software or internally developed software  

 

  22    3141/80492-001 CURRENT/130883173v17  #95685245v21   and software enhancements that, in conformity with GAAP, are or are required to be reflected as  capitalized costs on the consolidated balance sheet of the U.S. Borrower and its Restricted  Subsidiaries.  “Captive Insurance Subsidiaries” means, collectively or individually, as of any date  of determination, those regulated Subsidiaries of the U.S. Borrower primarily engaged in the  business of providing insurance and insurance-related services to the U.S. Borrower and its other  Subsidiaries.  “Cash Collateralize” means to deposit, or designate funds previously deposited, in  a deposit account subject to control of the Revolving Facility Administrative Agent or the  Collateral Agent, solely for the benefit of the Issuing Bank or Lenders, as collateral for Letters of  Credit or obligations of Revolving Lenders to fund participations in respect of Letters of Credit,  cash or deposit account balances in an aggregate amount equal to 102% of the maximum amount  available to be drawn under such Letters of Credit or, if the Issuing Bank shall agree in its sole  discretion, other credit support, in each case pursuant to documentation in form and substance  reasonably satisfactory to the Issuing Bank.  “Cash Collateral” shall have a meaning correlative to  the foregoing.  “Cash Equivalents” means:  (a) (i) Dollars, Canadian Dollars, Sterling or Euros, (ii) any other national  currency of any member state of the European Union or (iii) any other foreign currency, in the  case of clauses (ii) and (iii) held by the U.S. Borrower or any of its Restricted Subsidiaries in the  ordinary course of business;  (b) securities issued or directly and fully Guaranteed or insured by the United  States or Canadian governments, the United Kingdom, a member state of the European Union or,  in each case, any agency or instrumentality thereof (provided that the full faith and credit of such  country or such member state is pledged in support thereof), having maturities of not more than  two years from the date of acquisition;  (c) certificates of deposit, time deposits, eurodollar time deposits, overnight  bank deposits or bankers’ acceptances issued by (x) any Revolving Lender or affiliate thereof or  (y) by any bank or trust company (i) whose commercial paper is rated at least “A-1” or the  equivalent thereof by S&P or at least “P-1” or the equivalent thereof by Moody’s and (ii) having  combined capital and surplus in excess of $500 million;  (d) repurchase obligations for underlying securities of the types described in  clauses (b) and (c) entered into with any Person referenced in clause (c) above;  (e) commercial paper rated at the time of acquisition thereof at least “A-1” or  the equivalent thereof by S&P or “P-1” or the equivalent thereof by Moody’s;  (f) readily marketable direct obligations issued by any state, commonwealth or  territory of the United States of America, any province of Canada, the United Kingdom, any  member of the European Union, any other foreign government or any political subdivision or  

 

  23    3141/80492-001 CURRENT/130883173v17  #95685245v21   taxing authority thereof, in each case, having one of the two highest rating categories obtainable  from either Moody’s or S&P with maturities of not more than two years from the date of  acquisition;  (g) interests in any investment company or money market fund or enhanced  high yield fund which invests at least 90% of its assets in instruments of the type specified in  clauses (a) through (f) above;  (h) instruments and investments of the type and maturity described in  clauses (a) through (g) above denominated in any foreign currency or of foreign obligors, which  investments or obligors are, in the reasonable judgment of the U.S. Borrower, comparable in  investment quality to those referred to above;  (i) solely with respect to any Restricted Subsidiary that is a Foreign Subsidiary,  investments of comparable tenor and credit quality to those described in the foregoing clauses (b)  through (f) customarily utilized in countries in which such Foreign Subsidiary operates for short  term cash management purposes; and  (j) any other investments permitted by the investment policy of the U.S.  Borrower and its Restricted Subsidiaries delivered to the Administrative Agents prior to the  Restatement Date and on file with the Administrative Agents.  “Cash Management Agreement” means any agreement to provide Cash  Management Services.  “Cash Management Obligations” mean as to any Person, any and all obligations of  such Person, whether absolute or contingent and however and whenever created, arising,  evidenced or acquired (including all renewals, extensions and modifications thereof and  substitutions therefor), under any Cash Management Agreement.  “Cash Management Services” means any one or more of the following types of  services or facilities, including without limitation (a) ACH transactions, (b) cash management  services, including controlled disbursement services, treasury, depository, overdraft, netting  services, cash pooling arrangements, credit or debit card, stored value card, electronic funds  transfer services, and (c) foreign exchange facilities or other cash management arrangements in  the ordinary course of business.  For the avoidance of doubt, Cash Management Services do not  include Swap Agreements.  “CBR Loan” means a Loan that bears interest at a rate determined by reference to  the Central Bank Rate.  “CBR Spread” means the Applicable Margin, applicable to such Loan that is  replaced by a CBR Loan.  “CDOR Rate” means, for the relevant Interest Period, the Canadian deposit offered  rate which, in turn, means on any day the sum of the annual rate of interest determined with  reference to the arithmetic average of the discount rate quotations of all institutions listed in respect  

 

  24    3141/80492-001 CURRENT/130883173v17  #95685245v21   of the relevant Interest Period for Canadian Dollar denominated bankers’ acceptances displayed  and identified as such on the “Reuters Screen CDOR Page” as defined from time to time (the  “CDOR Screen Rate”), as of 10:00 a.m. Toronto local time on such day and, if such day is not a  Business Day, then on the immediately preceding Business Day (as adjusted by the Revolving  Facility Administrative Agent after 10:00 a.m. Toronto local time to reflect any error in the posted  rate of interest or in the posted average annual rate of interest); provided that if such rates are not  available on the Reuters Screen CDOR Page on any particular day, then the Canadian deposit  offered rate component of such rate on that day shall be calculated as the cost of funds quoted by  the Revolving Facility Administrative Agent to raise Canadian dollars for the applicable Interest  Period as of 10:00 a.m. Toronto local time on such day for commercial loans or other extensions  of credit to businesses of comparable credit risk; or if such day is not a Business Day, then as  quoted by the Revolving Facility Administrative Agent on the immediately preceding Business  Day.  “Central Bank Rate” means, (A) the greater of (i) for any Loan denominated in (a)  Sterling, the Bank of England (or any successor thereto)’s “Bank Rate” as published by the Bank  of England (or any successor thereto) from time to time, (b) Euro, one of the following three rates  as may be selected by the applicable Administrative Agent in its reasonable discretion: (1) the  fixed rate for the main refinancing operations of the European Central Bank (or any successor  thereto), or, if that rate is not published, the minimum bid rate for the main refinancing operations  of the European Central Bank (or any successor thereto), each as published by the European  Central Bank (or any successor thereto) from time to time, (2) the rate for the marginal lending  facility of the European Central Bank (or any successor thereto), as published by the European  Central Bank (or any successor thereto) from time to time or (3) the rate for the deposit facility of  the central banking system of the Participating Member States, as published by the European  Central Bank (or any successor thereto) from time to time and (c) any other Alternative Currency  determined after the Amendment No. 3 Effective Date, a central bank rate as determined by the  applicable Administrative Agent in its reasonable discretion (in consultation with the U.S.  Borrower) and (ii) the Floor; plus (B) the applicable Central Bank Rate Adjustment.  “Central Bank Rate Adjustment” means, for any day, for any Loan denominated in  (a) Euro, a rate equal to the difference (which may be a positive or negative value or zero) of (i)  the average of the Adjusted EURIBOR Rate for the five (5) most recent Business Days preceding  such day for which the EURIBOR Screen Rate was available (excluding, from such averaging, the  highest and the lowest Adjusted EURIBOR Rate applicable during such period of five (5) Business  Days) minus (ii) the Central Bank Rate in respect of Euro in effect on the last Business Day in  such period, (b) Sterling, a rate equal to the difference (which may be a positive or negative value  or zero) of (i) the average of Adjusted Daily Simple RFR for Sterling Borrowings for the five (5)  most recent RFR Business Days preceding such day for which SONIA was available (excluding,  from such averaging, the highest and the lowest such Adjusted Daily Simple RFR applicable  during such period of five (5) RFR Business Days) minus (ii) the Central Bank Rate in respect of  Sterling in effect on the last RFR Business Day in such period and (c) any other Alternative  Currency determined after the Amendment No. 3 Effective Date, a Central Bank Rate Adjustment  as determined by the applicable Administrative Agent in its reasonable discretion (in consultation  with the U.S. Borrower).  For purposes of this definition, (x) the term Central Bank Rate shall be  determined disregarding clause (B) of the definition of such term and (y) each of the EURIBOR  

 

  25    3141/80492-001 CURRENT/130883173v17  #95685245v21   Rate on any day shall be based on the EURIBOR Screen Rate on such day at approximately the  time referred to in the definition of such term for deposits in the applicable Agreed Currency for a  maturity of one month.  “CFC” means a “controlled foreign corporation” within the meaning of Section 957  of the Code.  “CFC Holding Company” means any Subsidiary of the U.S. Borrower that owns  no material assets other than equity interests (including, for this purpose, any debt or other  instrument treated as equity for U.S. federal income tax purposes) and/or intercompany  indebtedness in one or more (a) Foreign Subsidiaries that are CFCs and/or (b) other Subsidiaries  of the U.S. Borrower that own no material assets other than equity interests (including, for this  purpose, any debt or other instrument treated as equity for U.S. federal income tax purposes) and/or  intercompany indebtedness in one or more Foreign Subsidiaries that are CFCs.  “Change in Control” means the occurrence of any of the following events: (a) any  “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), but  excluding any employee benefit plan of the U.S. Borrower or any Person acting in its capacity as  trustee, agent or other fiduciary or administrator of any employee benefit plan of the U.S.  Borrower, shall have acquired beneficial ownership of 35% or more of the outstanding voting  securities having ordinary voting power for the election of directors of the U.S. Borrower,  (b) occupation of a majority of the seats (other than vacant seats) on the board of directors of the  U.S. Borrower by Persons who were not (i) directors of the U.S. Borrower on the date of this  Agreement, (ii) nominated or appointed by the board of directors of the U.S. Borrower or (iii)  approved as director candidates prior to their election by the board of directors of the U.S.  Borrower or (c) U.S. Borrower shall fail to own, directly or indirectly, beneficially and of record,  100% of the Equity Interests of the U.K. Borrower.    “Change in Law” means (a) the adoption of any law, rule, treaty or regulation after  the Restatement Date, (b) any change in any law, rule, treaty or regulation or in the interpretation  or application thereof by any Governmental Authority after the Restatement Date or (c)  compliance by any Lender or the Issuing Bank (or, for purposes of Section 2.15(b), by any lending  office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any) with  any request, guideline or directive (whether or not having the force of law) of any Governmental  Authority made or issued after the Restatement Date; provided that notwithstanding anything  herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and  all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) 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 or issued.  “Charges” has the meaning assigned to such term in Section 9.13.   “Class,” when used in reference to any Loan or Borrowing, refers to whether such  Loan, or the Loans comprising such Borrowing, are U.S. Revolving Loans, U.K. Revolving Loans,  Tranche A-1 Term Loans, Tranche A-2 Term Loans, Swingline Loans, Incremental Term Loans,  

 

  26    3141/80492-001 CURRENT/130883173v17  #95685245v21   Incremental Revolving Loans, Other Term Loans, Other Revolving Loans, Extended Term Loans  or Extended Revolving Loans; when used in reference to any Commitment, refers to whether such  Commitment is a Tranche A-1 Term Commitment, Tranche A-2 Term Commitment, Revolving  Commitment, Incremental Term Commitment, Incremental Revolving Commitment, Extended  Revolving Commitments, Other Term Commitment and Other Revolving Commitment; and when  used in reference to any Lender, refers to whether such Lender has a Loan or Commitment with  respect to a particular Class.  Incremental Term Loans, Extended Term Loans and Other Term  Loans (together with the respective Commitments in respect thereof) shall, at the election of the  applicable Borrower, be construed to be in different Classes.  Incremental Revolving Loans,  Extended Revolving Loans and Other Revolving Loans (together with the respective  Commitments in respect thereof) shall, at the election of the applicable Borrower, be construed to  be in different Classes.   “CLO” has the meaning assigned to such term in Section 9.04(b).    “Closing Date” means October 27, 2014.  “CME Term SOFR Administrator” means CME Group Benchmark Administration  Limited as administrator of the forward-looking term Secured Overnight Financing Rate (SOFR)  (or a successor administrator).  “Code” means the Internal Revenue Code of 1986, as amended.  “Co-Documentation Agents” means Fifth Third Bank, Mizuho Bank, Ltd.,  Santander Bank, N.A. and U.S. Bank, N.A., each in its capacity as a documentation agent in respect  of the credit facilities provided herein.  “Collateral” means any and all “Collateral” (or any term of similar meaning), as  defined in any applicable Security Document, and any and all property of whatever kind or nature  subject to or purported to be subject to a Lien under any Security Document, but shall in all events  exclude all Excluded Property.  “Collateral Agent” means JPMorgan Chase Bank, N.A., in its capacity as collateral  agent for the Secured Parties, and its successors in such capacity as provided in Article VIII.  “Collateral Agreement” means the Security Agreement dated as of the Closing  Date, among the U.S. Borrower, the other Subsidiary Loan Parties party thereto from time to time  and the Collateral Agent, substantially in the form of Exhibit D, as such may be amended, restated,  amended and restated, supplemented or otherwise modified from time to time.  “Commitment” means, with respect to any Person, such Person’s Term  Commitment, Revolving Commitment, Incremental Term Commitment, Incremental Revolving  Commitment, Other Term Commitment, Extended Revolving Commitment or Other Revolving  Commitment or any combination thereof (as the context requires).  “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et  seq.), as amended from time to time, and any successor statute.   

 

  27    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Communications” has the meaning assigned to such term in Section 9.15.  “Compliance Certificate” means a certificate substantially in the form of Exhibit J  annexed hereto.  “Consolidated Depreciation and Amortization Expense” means, with respect to the  U.S. Borrower and its Restricted Subsidiaries for any period, the total amount of depreciation and  amortization expense, including amortization or write-off of (i) intangibles and non-cash  organization costs, (ii) deferred financing fees or costs and (iii) Capitalized Software Expenditures  or costs, capitalized expenditures, customer acquisition costs and incentive payments, conversion  costs and contract acquisition costs, the amortization of original issue discount resulting from the  issuance of Indebtedness at less than par and amortization of favorable or unfavorable lease assets  or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis  and otherwise determined in accordance with GAAP and any write down of assets or asset value  carried on the balance sheet.  “Consolidated EBITDA” for any period means the Consolidated Net Income for  such period:   (1) increased (without duplication) by:   (a) provision for taxes based on income or profits or capital, including, without  limitation, federal, state, provincial, local, foreign, unitary, excise, property,  franchise and similar taxes and foreign withholding and similar taxes  (including any penalties and interest) of such Person paid or accrued during  such period deducted (and not added back) in computing Consolidated Net  Income; plus   (b) Consolidated Interest Expense of such Person for such period (including (x)  net losses on Swap Obligations or other derivative instruments entered into  for the purpose of hedging interest rate risk and (y) costs of surety bonds in  connection with financing activities), to the extent the same were deducted  (and not added back) in computing Consolidated Net Income; plus   (c) Consolidated Depreciation and Amortization Expense of such Person for  such period to the extent the same were deducted (and not added back) in  computing Consolidated Net Income; plus   (d) (x) Transaction Costs and (y) any fees, costs, expenses or charges (other  than Consolidated Depreciation and Amortization Expense) related to any  actual, proposed or contemplated issuance or registration (actual or  proposed) of Equity Interests or any Investment, acquisition, disposition,  recapitalization or the incurrence or registration (actual or proposed) of  Indebtedness (including a refinancing thereof) (in each case, whether or not  consummated or successful), including (i) such fees, expenses or charges  related to any Loans, the offering of Additional Debt, Additional Term  Notes, Refinancing Notes, Senior Notes (and any exchange offer) or any  

 

  28    3141/80492-001 CURRENT/130883173v17  #95685245v21   Permitted Refinancing and this Agreement and any Securitization Fees, and  (ii) any amendment, waiver or other modification of Loans, Additional  Debt, Additional Term Notes, Refinancing Notes, the Senior Notes,  Receivables Facilities, Securitization Facilities, or any Permitted  Refinancing, any Loan Document, any Securitization Fees, any other  Indebtedness or any Equity Interests, in each case, whether or not  consummated, deducted (and not added back) in computing Consolidated  Net Income; plus   (e) the amount of any restructuring charge, reserve, integration cost or other  business optimization expense or cost (including charges directly related to  implementation of cost-savings initiatives), that is deducted (and not added  back) in such period in computing Consolidated Net Income including,  without limitation, those related to severance, retention, signing bonuses,  relocation, recruiting and other employee related costs, future lease  commitments and costs related to the opening and closure and/or  consolidation of facilities; plus  (f) any other non-cash charges, write-downs, expenses, losses or items  reducing Consolidated Net Income for such period including any  impairment charges or the impact of purchase accounting, or other items  classified by the U.S. Borrower as special items; plus   (g) the amount of cost savings, operating expense reductions, other operating  improvements and initiatives and synergies projected by the U.S. Borrower  in good faith to be reasonably anticipated to be realizable or a plan for  realization shall have been established within twenty-four (24) months of  the date thereof (which will be added to Consolidated EBITDA as so  projected until fully realized and calculated on a pro forma basis as though  such cost savings, operating expense reductions, other operating  improvements and initiatives and synergies had been realized on the first  day of such period), net of the amount of actual benefits realized during  such period from such actions; provided that, to the extent any such  operational changes are not associated with a Specified Transaction, all  steps have been taken for realizing such cost savings and such cost savings  are reasonably identifiable and factually supportable (in the good faith  determination of the U.S. Borrower), which shall include in any event each  of the adjustments set forth on Schedule 1.01; provided further, that the  aggregate amount added back pursuant to this clause (g) for any period shall  not exceed 25% of Consolidated EBITDA for such period (calculated after  giving full effect to the pro forma adjustments set forth in this clause (g));  plus  (h) the amount of loss on any sale of Securitization Assets and related assets to  a Securitization Subsidiary in connection with a Qualified Securitization  Financing; plus  

 

  29    3141/80492-001 CURRENT/130883173v17  #95685245v21   (i) any costs or expense incurred by the U.S. Borrower or any Restricted  Subsidiary pursuant to any management equity plan or stock option plan or  any other management or employee benefit plan or agreement or any stock  subscription or shareholder agreement, to the extent that such costs or  expenses are funded with net cash proceeds of an issuance of Qualified  Equity Interests of the U.S. Borrower; plus  (j) cash receipts (or any netting arrangements resulting in reduced cash  expenditures) not representing Consolidated EBITDA or Consolidated Net  Income in any period to the extent non-cash gains relating to such income  were deducted in the calculation of Consolidated EBITDA pursuant to  clause (2) below for any previous period and not added back; plus   (k) any net loss included in the consolidated financial statements due to the  application of Financial Accounting Standards No. 160 “Non-controlling  Interests in Consolidated Financial Statements (“FAS 160”) (Accounting  Standards Codification Topic 810); plus   (l) realized foreign exchange losses resulting from the impact of foreign  currency changes on the valuation of assets or liabilities on the balance sheet  of the U.S. Borrower and its Restricted Subsidiaries; plus  (m) net realized losses from Swap Obligations or embedded derivatives that  require similar accounting treatment and the application of Accounting  Standard Codification Topic 815 and related pronouncements, in each case  to the extent not added back pursuant to clause (b) above; plus  (n) the amount of any minority interest expense consisting of Subsidiary  income attributable to minority equity interests of third parties in any non- wholly owned Subsidiary deducted in computing Consolidated Net Income  (and not added back in such period to Consolidated Net Income); plus  (o) costs related to the implementation of operational and reporting systems and  technology initiatives.  (2) decreased (without duplication) by: (a) non-cash gains increasing Consolidated Net  Income of such Person for such period, excluding any non-cash gains to the extent  they represent the reversal of an accrual or reserve for a potential cash item that  reduced Consolidated EBITDA in any prior period and any non-cash gains with  respect to cash actually received in a prior period so long as such cash did not  increase Consolidated EBITDA in such prior period; plus (b) realized foreign  exchange income or gains resulting from the impact of foreign currency changes  on the valuation of assets or liabilities on the balance sheet of the U.S. Borrower  and its Restricted Subsidiaries; plus (c) any net realized income or gains from Swap  Obligations or embedded derivatives that require similar accounting treatment and  the application of Accounting Standard Codification Topic 815 and related  pronouncements; plus (d) any net income included in the consolidated financial  

 

  30    3141/80492-001 CURRENT/130883173v17  #95685245v21   statements due to the application of FAS 160 (Accounting Standards Codification  Topic 810); plus (e) all cash payments made during such period to the extent made  on account of non-cash reserves and other non-cash charges added back to  Consolidated Net Income pursuant to clause (f) above in a previous period (it being  understood that this clause (2)(e) shall not be utilized in reversing any non-cash  reserve or charge added to Consolidated Net Income); plus (f) the amount of any  minority interest income consisting of Subsidiary loss attributable to minority  equity interests of third parties in any non-wholly owned Subsidiary added to  Consolidated Net Income (and not deducted in such period from Consolidated Net  Income); plus   (3) increased or decreased (without duplication) by, as applicable, any adjustments  resulting for the application of Accounting Standards Codification Topic 460 or  any comparable regulation.  For purposes of determining compliance with any financial test or ratio hereunder (including any  incurrence test), (x) Consolidated EBITDA (i) of any Person, property, business or asset acquired  by the U.S. Borrower or any Restricted Subsidiary of the U.S. Borrower during such period and  (ii) of any Unrestricted Subsidiary that is converted into a Restricted Subsidiary shall be included  in determining Consolidated EBITDA of the U.S. Borrower and its Restricted Subsidiaries for any  period, (y) Consolidated EBITDA of any Restricted Subsidiary or any operating entity for which  historical financial statements are available that is Disposed of during such period or any Restricted  Subsidiary that is converted into a Unrestricted Subsidiary during such period shall be excluded in  determining Consolidated EBITDA of the U.S. Borrower and its Restricted Subsidiaries for any  period, and (z) Consolidated EBITDA shall be calculated on a Pro Forma Basis.  Unless otherwise  provided herein, Consolidated EBITDA shall be calculated with respect to the U.S. Borrower and  its Restricted Subsidiaries.  “Consolidated Interest Coverage Ratio” means, on any date of determination, the  ratio of (a) Consolidated EBITDA for the period of four consecutive fiscal quarters of the U.S.  Borrower as of the Applicable Date of Determination to (b) Consolidated Interest Expense with  respect to Indebtedness of the type described in clauses (a) and (b) of the definition of  “Indebtedness” and determined on a cash basis only for such period of four consecutive fiscal  quarters (but excluding in any event make-whole or other prepayment premiums and breakage  costs and any other costs, fees and expenses in connection with the redemption of a portion of the  Senior Notes to the extent the same could constitute Consolidated Interest Expense).  “Consolidated Interest Expense” means, with respect to the U.S. Borrower and its  Restricted Subsidiaries for any period, without duplication, the sum of:   (1) consolidated interest expense of such Person for such period, to the extent such  expense was deducted (and not added back) in computing Consolidated Net Income  (including (a) amortization of original issue discount or premium resulting from the  issuance of Indebtedness at less than par, (b) all commissions, discounts and other  fees and charges owed with respect to letters of credit or bankers acceptances or  any similar facilities or financing and hedging agreements, (c) non-cash interest  payments (but excluding any non-cash interest expense attributable to the  

 

  31    3141/80492-001 CURRENT/130883173v17  #95685245v21   movement in the mark to market valuation of any Swap Obligations or other  derivative instruments pursuant to GAAP), (d) the interest component of Capital  Lease Obligations, (e) net payments, if any, pursuant to interest rate Swap  Obligations with respect to Indebtedness, and (f) to the extent constituting interest  expense in accordance with GAAP, consulting fees and expenses, and excluding  (t) penalties and interest relating to taxes, (u) accretion or accrual of discounted  liabilities other than Indebtedness, (v) any expense resulting from the discounting  of any Indebtedness in connection with the application of purchase accounting in  connection with any acquisition, (w) amortization of deferred financing fees, debt  issuance costs, commissions, fees and expenses, (x) any expensing of bridge,  commitment and other financing fees and (y) interest with respect to Indebtedness  of any parent of such Person appearing upon the balance sheet of such Person solely  by reason of push-down accounting under GAAP); plus  (2) consolidated capitalized interest of such Person for such period, whether paid or  accrued; plus  (3) all cash dividends or other distributions paid (excluding items eliminated in  consolidation) on any series of preferred stock of any Subsidiary of such Person  during such period; plus   (4) all cash dividends or other distributions paid (excluding items eliminated in  consolidation) on any series of Disqualified Equity Interests during this period;  minus  (5) interest income for such period.  For purposes of this definition, interest on a Capital Lease Obligation shall be  deemed to accrue at an interest rate reasonably determined by such Person to be the rate of interest  implicit in such Capital Lease Obligation in accordance with GAAP.  “Consolidated Net Income” means, for any period, the net income (loss) of the U.S.  Borrower and its Restricted Subsidiaries determined on a consolidated basis on the basis of GAAP;  provided, however, that there will not be included in such Consolidated Net Income:   (a) subject to the limitations contained in clause (iv) below, any net income (loss) of  any Person if such Person is not a Restricted Subsidiary, except that any equity in  the net income of any such Person for such period will be included in such  Consolidated Net Income up to the aggregate amount of cash or Cash Equivalents  actually distributed or that (as reasonably determined by a Responsible Officer of  the U.S. Borrower) could have been distributed by such Person during such period  to the U.S. Borrower or any Restricted Subsidiary as a dividend or other distribution  or as a return on investment;   (b) any net gain (or loss) realized upon the sale or other disposition of any asset or  disposed operations of the U.S. Borrower or any Restricted Subsidiaries (including  

 

  32    3141/80492-001 CURRENT/130883173v17  #95685245v21   pursuant to any Sale Leaseback which is not sold or otherwise disposed of in the  ordinary course of business);  (c) any extraordinary, exceptional, unusual or nonrecurring gain, loss, charge or  expense, or any charges, expenses or reserves in respect of any restructuring,  integration, redundancy or severance expense;  (d) the cumulative effect of a change in accounting principles;   (e) any (i) non-cash compensation charge or expense arising from any grant of stock,  stock options or other equity based awards and any non-cash deemed finance  charges in respect of any pension liabilities or other provisions or on the re- valuation of any benefit plan obligation and (ii) income (loss) attributable to  deferred compensation plans or trusts;   (f) all deferred financing costs written off or amortized and premiums paid or other  expenses incurred directly in connection with any early extinguishment of  Indebtedness and any net gain (loss) from any write-off or forgiveness of  Indebtedness;   (g) any unrealized gains or losses in respect of Swap Obligations or any ineffectiveness  recognized in earnings related to qualifying hedge transactions or the fair value of  changes therein recognized in earnings for derivatives that do not qualify as hedge  transactions, in each case, in respect of Swap Obligations;   (h) any unrealized foreign currency transaction gains or losses in respect of obligations  of any Person denominated in a currency other than the functional currency of such  Person and any unrealized foreign exchange gains or losses relating to translation  of assets and liabilities denominated in foreign currencies;   (i) any unrealized foreign currency translation or transaction gains or losses in respect  of Indebtedness or other obligations of the U.S. Borrower or any Restricted  Subsidiary owing to the U.S. Borrower or any Restricted Subsidiary;  (j) any purchase accounting effects including, but not limited to, adjustments to  inventory, property and equipment, software and other intangible assets and  deferred revenue in component amounts required or permitted by GAAP and  related authoritative pronouncements (including the effects of such adjustments  pushed down to the U.S. Borrower and the Restricted Subsidiaries), as a result of  any consummated acquisition, or the amortization or write-off of any amounts  thereof (including any write-off of in process research and development);  (k) any goodwill or other asset impairment charge or write-off or write-down;  (l) any after-tax effect of income (loss) from the early retirement, extinguishment or  cancellation of Indebtedness or Swap Obligations or other derivative instruments;   (m) [reserved];  

 

  33    3141/80492-001 CURRENT/130883173v17  #95685245v21   (n) any net unrealized gains and losses resulting from Swap Obligations or embedded  derivatives that require similar accounting treatment and the application of  Accounting Standards Codification Topic 815 and related pronouncements;  (o) proceeds from any business interruption insurance to the extent not already  included in Consolidated Net Income;  (p) the amount of any expense to the extent a corresponding amount is received in cash  by the U.S. Borrower and the Restricted Subsidiaries from a Person other than the  U.S. Borrower or any Restricted Subsidiaries, provided such payment has not been  included in determining Consolidated Net Income (it being understood that if the  amounts received in cash under any such agreement in any period exceed the  amount of expense in respect of such period, such excess amounts received may be  carried forward and applied against expense in future periods);  (q) gains and losses on the sale, exchange or other disposition of assets outside the  ordinary course of business or abandonment of assets and from discontinued  operations; and  (r) cash and non-cash charges, paid or accrued, and gains resulting from the application  of Financial Accounting Standards No. 141R (Accounting Standards Codification  Topic 805) (including with respect to earn-outs incurred by the U.S. Borrower or  any of its Restricted Subsidiaries).  In addition, to the extent not already included in the Consolidated Net Income of the U.S. Borrower  and its Restricted Subsidiaries, notwithstanding anything to the contrary in the foregoing,  Consolidated Net Income shall exclude (i) any expenses and charges that are reimbursed by  indemnification or other reimbursement provisions, or so long as the U.S. Borrower has made a  determination that there exists reasonable evidence that such amount will in fact be indemnified  or reimbursed (and such amount is in fact reimbursed within 365 days of the date of such charge  or payment (with a deduction for any amount so added back to the extent not so reimbursed within  such 365 days)), in connection with any investment or any sale, conveyance, transfer or other  disposition of assets permitted hereunder, (ii) to the extent covered by insurance and actually  reimbursed, or, so long as the U.S. Borrower has made a determination that there exists reasonable  evidence that such amount will in fact be reimbursed by the insurer and such amount is (A) not  denied by the applicable carrier in writing within 180 days of the date of such evidence and (B) in  fact reimbursed within 365 days of the date of such evidence (with a deduction for any amount so  added back to the extent not so reimbursed within 365 days), expenses with respect to liability or  casualty events or business interruption, (iii) any expenses and charges to the extent paid for, or so  long as the U.S. Borrower has made a determination that there exists reasonable evidence that such  amount will in fact be reimbursed (and such amount is in fact reimbursed within 365 days of the  date of such payment (with a deduction for any amount so added back to the extent not so  reimbursed within 365 days)), by any third party other than the U.S. Borrower or any of its  Restricted Subsidiaries and (iv) solely for the purpose of determining the Available Amount, any  net income (loss) of any Restricted Subsidiary (other than the Loan Parties) if such Restricted  Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the  making of distributions by such Restricted Subsidiary, directly or indirectly, to any Loan Party by  

 

  34    3141/80492-001 CURRENT/130883173v17  #95685245v21   operation of the terms of such Restricted Subsidiary’s charter or any agreement, instrument,  judgment, decree, order, statute or governmental rule or regulation applicable to such Restricted  Subsidiary or its shareholders (other than (a) restrictions that have been waived or otherwise  released, (b) restrictions pursuant to this Agreement, the Senior Notes, Term Loan Exchange  Notes, Incremental Loans, or Credit Agreement Refinancing Indebtedness and (c) restrictions  arising pursuant to an agreement or instrument if the encumbrances and restrictions contained in  any such agreement or instrument taken as a whole are not materially less favorable to the Secured  Parties than the encumbrances and restrictions contained in the Loan Documents (as determined  by the U.S. Borrower in good faith), except that the U.S. Borrower’s equity in the net income of  any such Restricted Subsidiary for such period will be included in such Consolidated Net Income  up to the aggregate amount of cash or Cash Equivalents actually distributed or that could have  been distributed by such Restricted Subsidiary during such period to the U.S. Borrower or another  Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend to  another Restricted Subsidiary, to the limitation contained in this clause).  “Consolidated Total Assets” means, as of any date of determination, the amount  that would, in conformity with GAAP, be set forth opposite the caption “total assets” (or any like  caption) on the most recent consolidated balance sheet of the U.S. Borrower and the Restricted  Subsidiaries at such date or, for the period prior to the time any such statements are so delivered,  the pro forma financial statements of the U.S. Borrower giving effect to the Transactions.  “Control” means the possession, directly or indirectly, of the power to direct or  cause the direction of the management or policies of a Person, whether through the ability to  exercise voting power, by contract or otherwise.  The terms “Controlling” and “Controlled” have  meanings correlative thereto.  “Corresponding Tenor” with respect to any Available Tenor means, as applicable,  either a tenor (including overnight) or an interest payment period having approximately the same  length (disregarding business day adjustment) as such Available Tenor.  “Co-Sustainability Structuring Agents” means each of J.P. Morgan Securities LLC  and Wells Fargo Securities LLC.  “Covered Entity” means any of the following:  (a) a “covered entity” as that term is defined in, and interpreted in accordance with,  12 C.F.R. § 252.82(b);  (b) a “covered bank” as that term is defined in, and interpreted in accordance with,  12 C.F.R. § 47.3(b); or  (c)  a “covered FSI” as that term is defined in, and interpreted in accordance with,  12 C.F.R. § 382.2(b).  “Covered Party” has the meaning assigned to it in Section 9.20.  

 

  35    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Credit Agreement Refinanced Debt” has the meaning assigned to such term in the  definition of “Credit Agreement Refinancing Indebtedness.”  “Credit Agreement Refinancing Indebtedness” means (a) Permitted First Priority  Replacement Debt, (b) Permitted Second Priority Replacement Debt, (c) Permitted Unsecured  Replacement Debt, and/or (d) Other Term Loans or Other Revolving Commitments (including the  corresponding Other Revolving Loans incurred pursuant to such Other Revolving Commitments)  obtained pursuant to a Refinancing Amendment, in each case, issued, incurred or obtained  (including by means of the extension or renewal of existing Indebtedness) in exchange for, or to  extend, renew, replace, restructure or refinance, in whole or in part, any or all Classes of then  existing Term Loans, Revolving Loans or Revolving Commitments (in each case including any  successive Credit Agreement Refinancing Indebtedness) (the “Credit Agreement Refinanced  Debt”); provided that (v) such Credit Agreement Refinancing Indebtedness (including, if such  Credit Agreement Refinancing Indebtedness includes any Other Revolving Commitments, such  Other Revolving Commitments) is in an original aggregate principal amount not greater than the  aggregate principal amount of the Credit Agreement Refinanced Debt (including, in the case of  Credit Agreement Refinanced Debt consisting, in whole or in part, of Revolving Commitments or  Other Revolving Commitments, the amount thereof) plus any Term Loans and/or Revolving  Commitments plus other Indebtedness that could otherwise be (A) incurred hereunder (subject to  a dollar for dollar usage of any basket (other than any basket that provides for Credit Agreement  Refinancing Indebtedness) set forth in Section 6.01) and (B) if such Indebtedness is secured,  subject to a dollar for dollar usage of any basket (other than any basket that provides for Liens on  Credit Agreement Refinancing Indebtedness) set forth in Section 6.02, plus premiums and accrued  and unpaid interest, fees and expenses in respect thereof plus other reasonable costs, fees and  expenses (including upfront fees and original issue discount) incurred in connection with such  Credit Agreement Refinancing Indebtedness, (w) such Credit Agreement Refinancing  Indebtedness does not mature prior to the maturity date of and, except in the case of Other  Revolving Commitments, has a Weighted Average Life to Maturity equal to or longer than the  Weighted Average Life to Maturity at such time of the corresponding Class of Credit Agreement  Refinanced Debt (without giving effect to nominal amortization for periods where amortization  has been eliminated as a result of a prepayment of the applicable Credit Agreement Refinanced  Debt), (x) such Credit Agreement Refinancing Indebtedness shall not be incurred or Guaranteed  by any Restricted Subsidiary that did not incur or Guarantee such Credit Agreement Refinanced  Debt, (y) such Credit Agreement Refinanced Debt shall be repaid, defeased or satisfied and  discharged, and all accrued and unpaid interest, fees then due and premiums (if any) in connection  therewith shall be paid substantially contemporaneously with the incurrence of the Credit  Agreement Refinancing Indebtedness; and (z) if such Credit Agreement Refinancing Indebtedness  is Permitted First Priority Replacement Debt, Permitted Second Priority Replacement Debt and/or  Permitted Unsecured Replacement Debt, the covenants and events of default and other terms of  which (other than maturity, fees, discounts, interest rate, redemption terms and redemption  premiums, which shall be determined in good faith by the applicable Borrower) shall be on terms  that are not materially more restrictive to the applicable Borrower, taken as a whole, than the terms  of the existing Term Loans unless (x) the Lenders under the existing Term Loans also receive the  benefit of such more restrictive terms or (y) any such provisions apply only after the Latest  Maturity Date with respect to the Term Loans.  For the avoidance of doubt, (I) Credit Agreement  Refinancing Indebtedness consisting of Other Term Loans or Other Revolving Commitments  

 

  36    3141/80492-001 CURRENT/130883173v17  #95685245v21   (including the corresponding Other Revolving Loans incurred pursuant to such Other Revolving  Commitments) shall be subject to the requirements set forth in Section 2.21, and (II) to the extent  that such Credit Agreement Refinanced Debt consists, in whole or in part, of (A) Revolving  Commitments or Other Revolving Commitments, such Revolving Commitments or Other  Revolving Commitments or (B) Revolving Loans or Other Revolving Loans, the corresponding  Revolving Commitments or Other Revolving Commitments, in each case, shall be terminated, and  all accrued fees in connection therewith shall be paid substantially contemporaneously with the  incurrence of the Credit Agreement Refinancing Indebtedness.  “Credit Event” has the meaning assigned to such term in Section 4.02.  “Daily Simple RFR” means, for any day (an “RFR Interest Day”), an interest rate  per annum equal to, for any RFR Loan denominated in (i) Sterling, SONIA for the day that is five  (5) RFR Business Days prior to (A) if such RFR Interest Day is an RFR Business Day, such RFR  Interest Day or (B) if such RFR Interest Day is not an RFR Business Day, the RFR Business Day  immediately preceding such RFR Interest Day and (ii) Dollars, Daily Simple SOFR.     “Daily Simple SOFR” means, for any day (a “SOFR Rate Day”), a rate per annum  equal to SOFR for the day (such day “SOFR Determination Date”) that is five (5) RFR Business  Days prior to (i) if such SOFR Rate Day is an RFR Business Day, such SOFR Rate Day or (ii) if  such SOFR Rate Day is not an RFR Business Day, the RFR Business Day immediately preceding  such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the  SOFR Administrator’s Website.  Any change in Daily Simple SOFR due to a change in SOFR  shall be effective from and including the effective date of such change in SOFR without notice to  the Borrower.   “Danish Kroner” means the lawful currency of Denmark.  “Debtor Relief Laws” means the Bankruptcy Code and the Insolvency Act of 1986  of the United Kingdom, and all other liquidation, conservatorship, bankruptcy, administration,  assignment for the benefit of creditors, moratorium, rearrangement, receivership, administrative  receivership, insolvency, reorganization, voluntary arrangement, scheme of arrangement or similar  debtor relief laws of the United States, England and Wales or other applicable jurisdictions from  time to time in effect and affecting the rights of creditors generally.  “Declined Proceeds” has the meaning assigned to such term in Section 2.11(g).  “Default” means any event or condition specified in Article VII that after notice,  lapse of applicable grace periods or both would, unless cured or waived hereunder, constitute an  Event of Default; provided that any Default that results solely from the taking of an action that  would have been permitted but for the continuation of a previous Default will be deemed to be  cured if such previous Default is cured prior to becoming an Event of Default.  “Default Right” has the meaning assigned to that term in, and shall be interpreted  in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.  

 

  37    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Defaulting Lender” means, subject to Section 2.22(b), any Lender that (a) has  failed to (i) fund all or any portion of its Loans within two (2) Business Days of the date such  Loans were required to be funded hereunder, or (ii) pay to the applicable Administrative Agent,  any Issuing Bank, or any other Lender any other amount required to be paid by it hereunder  (including in respect of its participation in Letters of Credit) within two (2) Business Days of the  date when due, (b) has notified the applicable Borrower, the applicable Administrative Agent or  any Issuing Bank in writing that it does not intend to comply with its funding obligations  hereunder, or has made a public statement to that effect, (c) has failed, within three (3) Business  Days after written request by the applicable Administrative Agent or the applicable Borrower, to  confirm in writing to the applicable Administrative Agent and the applicable Borrower that it will  comply with its prospective funding obligations hereunder (provided that such Lender shall cease  to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by  such Administrative Agent and the applicable Borrower), or (d) has, or has a direct or indirect  parent company that has, (i) become the subject of a proceeding under any Debtor Relief Laws or  a Bail-In Action, or (ii) had appointed for it a receiver, custodian, conservator, trustee,  administrator, assignee for the benefit of creditors or similar Person charged with reorganization  or liquidation of its business or assets (other than via an Undisclosed Administration), including  the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting  in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the  ownership or acquisition of any equity interest in that Lender or any direct or indirect parent  company thereof by a Governmental Authority so long as such ownership interest does not result  in or provide such Lender 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 Lender  (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any  contracts or agreements made with such Lender.  Any determination made in good faith by the  applicable Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through  (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed  to be a Defaulting Lender (subject to Section 2.22(b)) upon delivery of written notice of such  determination to the applicable Borrower, each Issuing Bank and each Lender.  “Designated Lender” has the meaning assigned to such term in Section 2.06(c).  “Designated Non-Cash Consideration” means the fair market value (as determined  in good faith by the U.S. Borrower) of non-cash consideration received by the U.S. Borrower or  one of its Restricted Subsidiaries in connection with a Disposition that is so designated as  Designated Non-Cash Consideration pursuant to an officer’s certificate, setting forth the basis of  such valuation, less the amount of cash or Cash Equivalents received in connection with a  subsequent payment, redemption, retirement, sale or other disposition of such Designated Non- Cash Consideration.  A particular item of Designated Non-Cash Consideration will no longer be  considered to be outstanding when and to the extent it has been paid, redeemed or otherwise retired  or sold or otherwise disposed of in compliance with Section 6.05.  “Direct Competitor” means any Person who is a bona fide competitor identified in  writing to each of the Administrative Agents prior to the Amendment No. 3 Effective Date, as such  list may be updated by the U.S. Borrower (by furnishing such updates to each of the Administrative  Agents) from time to time thereafter (other than bona fide fixed income investors or debt funds  

 

  38    3141/80492-001 CURRENT/130883173v17  #95685245v21   that are engaged in making, purchasing, holding or otherwise investing in commercial loans, bonds  and similar extensions of credit in the ordinary course of business), and in each case, any Affiliate  of each such Person that is readily identifiable solely on the basis of such Affiliate’s name or the  name of such Affiliate’s parent or fund family; provided that no updates to the list of Direct  Competitors shall be deemed to retroactively disqualify any parties that have previously validly  acquired an assignment or participation in respect of the Loans from continuing to hold or vote  such previously acquired assignments and participations on the terms set forth herein for Lenders  that are not Direct Competitors.  “Disclosed Matters” means the actions, suits and proceedings and the  environmental matters disclosed on Schedule 3.06.  “Discount Range” has the meaning assigned to such term in the definition “Dutch  Auction”.  “Disposition” or “Dispose” means the sale, transfer, license, lease (as lessor) or  other disposition (including any Sale Leaseback transaction) of any property by any Person,  including any sale, assignment, transfer or other disposal, with or without recourse, of any Equity  Interests owned by such Person, or any notes or accounts receivable or any rights and claims  associated therewith; provided that “Disposition” and “Dispose” shall be deemed not to include  any issuance or sale by such Person of its Equity Interests or other securities to another Person.  “Disqualified Equity Interests” means Equity Interests that by their terms (or by the  terms of any security into which they are convertible or for which they are exchangeable) (a)  require the payment of any cash dividends (other than dividends payable solely in shares of  Qualified Equity Interests), (b) mature or are mandatorily redeemable or subject to mandatory  repurchase or redemption or repurchase at the option of the holders thereof, in whole or in part and  whether upon the occurrence of any event, pursuant to a sinking fund obligation, on a fixed date  or otherwise, prior to the date that is ninety-one (91) days after the then Latest Maturity Date at  such time of then outstanding Loans (other than (i) upon payment in full of the Obligations (other  than contingent indemnification obligations for which no claim has been made), reduction of the  LC Exposure to zero and termination of the Commitments or (ii) upon a “change in control” or  (iii) asset sale or similar event) or (c) are convertible or exchangeable, automatically or at the  option of any holder thereof, into any Indebtedness other than Indebtedness otherwise permitted  under Section 6.01; provided that if such Equity Interests are issued pursuant to a plan for the  benefit of employees of the U.S. Borrower or the Restricted Subsidiaries or by any such plan to  such employees, such Equity Interests shall not constitute Disqualified Equity Interests solely  because it may be required to be repurchased by the U.S. Borrower or its Restricted Subsidiaries  in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s  termination, death or disability.  “Disqualified Lender” means any Person identified in writing to each of the  Administrative Agents on or prior to the Amendment No. 3 Effective Date and any Affiliate thereof  that is readily identifiable solely on the basis of such Affiliate’s name or the name of such  Affiliate’s parent or fund family.  

 

  39    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Dollar Equivalent” means, on any date of determination, (a) with respect to any  amount in Dollars, such amount, and (b) with respect to any amount in an Alternative Currency,  the equivalent in Dollars of such amount, determined by the applicable Administrative Agent  pursuant to Section 1.06 using the Exchange Rate with respect to such Alternative Currency at the  time in effect under the provisions of such Section (except as otherwise expressly provided herein).  “Dollars” or “$” refers to the lawful money of the United States of America.  “Domestic Restricted Subsidiary” means any Domestic Subsidiary that is a  Restricted Subsidiary.  “Domestic Subsidiary” means any Subsidiary of the U.S. Borrower that is  incorporated or organized under the laws of the United States of America, any state thereof or the  District of Columbia.  “Dutch Auction” means an auction (an “Auction”) conducted by any Borrower or  one or more of its Subsidiaries (in such capacity, as applicable, the “Auction Party”) in their sole  discretion in order to purchase Term Loans in accordance with the following procedures:  (A) Notice Procedures.  In connection with an Auction, the Auction  Party will provide notification to the auction manager (for distribution to the Term Lenders  of the relevant Class of Term Loans that are the subject of the Auction (the “Eligible  Auction Lenders”) and the applicable Administrative Agent) of the Class and principal  amount of Term Loans that will be the subject of the Auction (an “Auction Notice”).  Each  Auction Notice shall contain (i) the Class of Term Loans that will be the subject of the  Auction, (ii) the total cash value of the bid (the “Auction Amount”), in a minimum amount  of $1,000,000 with minimum increments of $500,000, (iii) the discount to par, which shall  be a range (the “Discount Range”) of percentages of the par principal amount of the Term  Loans (i.e., a 5% to 10% Discount Range would represent $50,000 to $100,000 per  $1,000,000 principal amount of Term Loans, with a 10% discount being deemed a “higher”  discount than 5% for purposes of an Auction) at issue that represents the discounts applied  to calculate the range of purchase prices that could be paid in the Auction; provided that  the Discount Range may, at the option of the Auction Party, be a single percentage, (iv)  the date on which the Auction will conclude, on which date Return Bids will be due at the  time provided in the Auction Notice (such time, the “Auction Expiration Time”), as such  date and time may be extended upon notice by the Auction Party to the auction manager  before any prior Auction Expiration Time, and (v) the identity of the auction manager, and  shall indicate if such auction manager is an Affiliate of the applicable Borrower.  Each  offer to purchase Term Loans in an Auction shall be offered on a pro rata basis to all the  Eligible Auction Lenders.  (B) Reply Procedures.  In connection with any Auction, each Eligible  Auction Lender may, in its sole discretion, participate in such Auction and, if it elects to  do so (any such participating Eligible Auction Lender, a “Participating Lender”), shall  provide, prior to the Auction Expiration Time, the auction manager with a notice of  participation (the “Return Bid”) which shall be in a form and substance prepared by the  applicable Borrower and shall specify (i) a discount to par that must be expressed as a  

 

  40    3141/80492-001 CURRENT/130883173v17  #95685245v21   percentage of par principal amount of Term Loans of the relevant Class expressed in  percentages (the “Reply Discount”), which must be within the Discount Range, and (ii) a  principal amount of Term Loans of the relevant Class, which must be in a minimum amount  of $1,000,000 with minimum increments of $500,000, that such Eligible Auction Lender  is willing to offer for sale at its Reply Discount (the “Reply Amount”).  An Eligible Auction  Lender may avoid the minimum amount conditions solely when submitting a Reply  Amount equal to such Eligible Auction Lender’s entire remaining amount of such Term  Loans.  Eligible Auction Lenders may only submit one Return Bid per Auction but each  Return Bid may contain up to three bids, only one of which can result in a Qualifying Bid  (as defined below).  In addition to the Return Bid, each Participating Lender must execute  and deliver, to be irrevocable during the pendency of the Auction and held in escrow by  the auction manager, an assignment agreement pursuant to which such Participating Lender  shall make the representations and agreements substantially consistent with the terms of  Section 2.11(i)(C).  Any Eligible Auction Lender that fails to submit a Return Bid at or  prior to the Auction Expiration Time shall be deemed to have declined to participate in the  Auction.  (C) Acceptance Procedures.  Based on the Reply Discounts and Reply  Amounts received by the auction manager, the auction manager, with the consent of the  Auction Party, will, within ten (10) Business Days of the Auction Notice (or such other  time agreed by the applicable Borrower), determine the applicable discount (the  “Applicable Discount”) for the Auction, which will be the highest Reply Discount at which  the Auction Party can complete the Auction at the Auction Amount; provided that, in the  event that the Reply Amounts are insufficient to allow the Auction Party to complete a  purchase of the entire Auction Amount, the Auction Party shall either, at its election, (i)  withdraw the Auction or (ii) complete the Auction as set forth below.  Unless withdrawn,  the Auction Party shall notify the Participating Lenders of the Applicable Discount no later  than one Business Day after it is determined (the “Applicable Discount Notice”).  The  Auction Party shall, within three (3) Business Days of the Applicable Discount Notice,  purchase Term Loans from each Participating Lender with a Reply Discount that is equal  to or higher than the Applicable Discount (“Qualifying Bids”) at a discount to par equal to  the Reply Discount of such Participating Lender, with the applicable Term Loans of the  Participating Lender(s) with the highest Reply Discount being purchased first and then in  descending order from such highest Reply Discount to and including the applicable Term  Loans of the Participating Lenders with a Reply Discount equal to the Applicable Discount  (the “Applicable Order of Purchase”); provided that if the aggregate proceeds required to  purchase all Term Loans of the relevant Class subject to Qualifying Bids would exceed the  Auction Amount for such Auction, the Auction Party shall purchase such Term Loans of  the Participating Lenders in the Applicable Order of Purchase, but with the Term Loans of  Participating Lenders with Reply Discounts equal to the Applicable Discount being  purchased pro rata until the Auction Amount has been so expended on such purchases.  If  a Participating Lender has submitted a Return Bid containing multiple bids at different  Reply Discounts, only the bid with the highest Reply Discount that is equal to or more than  the Applicable Discount will be deemed the Qualifying Bid of such Participating Lender.   In no event shall any purchase of Term Loans in an Auction be made at a Reply Discount  lower than the Applicable Discount for such Auction.  

 

  41    3141/80492-001 CURRENT/130883173v17  #95685245v21   (D) Additional Procedures.  Once initiated by an Auction Notice, the  Auction Party may withdraw or modify an Auction only prior to the delivery of the  Applicable Discount Notice (and if any Auction is withdrawn or modified, notice thereof  shall be delivered to the relevant Administrative Agent and the Eligible Auction Lenders  no later than the first Business Day after such withdrawal).  Furthermore, in connection  with any Auction, upon submission by a Participating Lender of the relevant Class of a  Qualifying Bid, such Term Lender will be obligated to sell the entirety or its allocable  portion of the Reply Amount, as the case may be, at the Applicable Discount.  (E) Any failure by such Loan Party or such Subsidiary to make any  prepayment to a Lender, pursuant to this definition shall not constitute a Default or Event  of Default under Section 7.01 or otherwise.   “EEA Financial Institution”  means (a) any credit institution or investment firm  established in any EEA Member Country which is subject to the supervision of an EEA Resolution  Authority, (b) any entity established in an EEA Member Country which is a parent of an institution  described in clause (a) of this definition, or (c) any financial institution established in an EEA  Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this  definition 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.   “Electing Guarantors” means any Excluded Subsidiary that, at the option, and in  the sole discretion, of the U.S. Borrower has been designated a Subsidiary Loan Party.  “Electronic Signature” means an electronic sound, symbol, or process attached to,  or associated with, a contract or other record and adopted by a Person with the intent to sign,  authenticate or accept such contract or record.  “Eligible Assignee” means (i) any Lender, any Affiliate of any Lender and any  Approved Fund of any Lender; (ii) (A) any commercial bank organized under the laws of the  United States or any state thereof (B) any savings and loan association or savings bank organized  under the laws of the United States or any state thereof and (C) any commercial bank organized  under the laws of any other country or a political subdivision thereof; provided that (1) such bank  is acting through a branch or agency located in the United States or (2) such bank is organized  under the laws of a country that is a member of the Organization for Economic Cooperation and  Development or a political subdivision of such country; and (D) any other entity (other than a  natural person) that is an “accredited investor” (as defined in Regulation D under the Securities  Act) that extends credit or buys loans as one of its businesses including insurance companies,  investment or mutual funds, lease financing companies; provided, further that any such Person  described in this clause (ii) shall have a consolidated combined capital and surplus of at least  $5,000,000,000; and (iii) the Borrowers and any Subsidiary subject to Section 9.04 or Section  

 

  42    3141/80492-001 CURRENT/130883173v17  #95685245v21   2.11(i) (so long as the Loans and Commitments obtained by such Borrower or any Restricted  Subsidiary are immediately cancelled); provided that, in any event, Eligible Assignees shall not  include (x) any natural person, (y) any Direct Competitor or Disqualified Lender unless, in each  case, consented to in writing by the U.S. Borrower (such consent shall be required regardless of  whether a Default or Event of Default shall be continuing), or (z) any Defaulting Lender or any  Affiliate thereof.  “Eligible Auction Lenders” has the meaning assigned to such term in the definition  “Dutch Auction”.  “EMU Legislation” means the legislative measures of the European Council for the  introduction of, changeover to or operation of a single or unified European currency.  “Environmental Laws” means all applicable treaties, laws (including common law),  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 protection of the environment, the preservation or reclamation of natural  resources, the generation, management, Release or threatened Release of, or exposure to, any  Hazardous Material or to workplace health and safety matters.  “Environmental Liability” means any liability, contingent or otherwise (including  any liability for damages, costs of medical monitoring, costs of environmental remediation or  restoration, administrative oversight costs, consultants’ fees, fines, penalties or indemnities), of  any Restricted Subsidiary directly or indirectly resulting from or based upon (a) any actual or  alleged violation of any Environmental Law or permit, license or approval issued thereunder, (b)  the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous  Materials, (c) exposure to any Hazardous Materials, (d) the 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 or other share capital, partnership  interests, membership interests in a limited liability or exempted company, beneficial interests in  a trust or other equity ownership interests in a Person, and any option, warrant or other right  entitling the holder thereof to purchase or otherwise acquire any such equity interest.  “ERISA” means the Employee Retirement Income Security Act of 1974, as  amended from time to time.  “ERISA Affiliate” means any trade or business (whether or not incorporated) that,  together with any Loan Party (other than the U.K. Borrower), 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 of the Code.  “ERISA Event” means (a) any “reportable event,” as defined in 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) the requirements of Section 4043(b) of ERISA apply with  respect to a contributing sponsor, as defined in Section 4001(a)(13) of ERISA, of a Plan, and an  

 

  43    3141/80492-001 CURRENT/130883173v17  #95685245v21   event described in paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably  expected to occur with respect to such Plan, (c) a determination that any Plan is or is reasonably  expected to be in “at risk” status (within the meaning of Section 430 of the Code or Section 303  of ERISA), (d) the cessation of operations at a facility of any Loan Party (other than the U.K.  Borrower) or any ERISA Affiliate in the circumstances described in Section 4062(e) of ERISA,  (e) conditions contained in Section 303(k)(1)(A) of ERISA for imposition of a lien shall have been  met with respect to any Plan, (f) with respect to any Plan, a failure to satisfy the minimum funding  standard under Section 412 of the Code or Section 302 of ERISA, whether or not waived, (g) the  filing pursuant to Section 412(c) 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, (h) the incurrence by any Loan  Party (other than the U.K. Borrower) or any of its ERISA Affiliates of any liability under Title IV  of ERISA with respect to the termination of any Plan, (i) the receipt by any Loan Party (other than  the U.K. Borrower) or any of its ERISA Affiliates 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, (j) the incurrence by any Loan Party (other than the U.K. Borrower) or any of its ERISA  Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or  Multiemployer Plan, (k) the receipt by any Loan Party (other than the U.K. Borrower) or any of  its ERISA Affiliates of any notice, or the receipt by any Multiemployer Plan from any Loan Party  (other than the U.K. Borrower) or any of its ERISA Affiliates of any notice, concerning the  imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected  to be, “insolvent” or in “endangered or “critical” status within the meaning of Section 432 of the  Code or Section 305 of ERISA, (l) the occurrence of a non-exempt “prohibited transaction” with  respect to which any Loan Party (other than the U.K. Borrower) or any of its Subsidiaries 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 with respect to which any Loan Party (other than  the U.K. Borrower) or any such Subsidiary could otherwise be liable, (m) any Foreign Benefit  Event or (n) any other event or condition with respect to a Plan or Multiemployer Plan that could  result in liability of any Loan Party (other than the U.K. Borrower) or any ERISA Affiliate.  “Escrowed Proceeds” means the proceeds from the offering of any debt securities  or other Indebtedness paid into an escrow account with an independent escrow agent on the date  of the applicable offering or incurrence pursuant to escrow arrangements that permit the release of  amounts on deposit in such escrow account upon satisfaction of certain conditions or the  occurrence of certain events. The term “Escrowed Proceeds” shall include any interest earned on  the amounts held in escrow.  “ESG Amendment” has the meaning assigned to such term in Section 2.27.  “ESG Pricing Provisions” has the meaning assigned to such term in Section 2.27.  “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.  “EURIBOR Rate” means, with respect to any Term Benchmark Borrowing  denominated in Euros and for any Interest Period, the EURIBOR Screen Rate, two (2) TARGET  Days prior to the commencement of such Interest Period.  

 

  44    3141/80492-001 CURRENT/130883173v17  #95685245v21   “EURIBOR Screen Rate” means the euro interbank offered rate administered by  the European Money Markets Institute (or any other person which takes over the administration of  that rate) for the relevant period displayed (before any correction, recalculation or republication  by the administrator) on page EURIBOR01 of the Thomson Reuters screen (or any replacement  Thomson Reuters page which displays that rate) or on the appropriate page of such other  information service which publishes that rate from time to time in place of Thomson Reuters as  published at approximately 11:00 a.m. Brussels time two (2) TARGET Days prior to the  commencement of such Interest Period.  If such page or service ceases to be available, the  applicable Administrative Agent may specify another page or service displaying the relevant rate  after consultation with the U.S. Borrower.  “Euro”, “EUR” and “€” mean the lawful currency of the Participating Member  States introduced in accordance with the EMU Legislation.  “Event of Default” has the meaning assigned to such term in Section 7.01.  “Exchange Act” means the Securities Exchange Act of 1934, as amended.  “Exchange Rate” means, on any day, for purposes of determining the Dollar  Equivalent of any currency, the rate at which such other currency may be exchanged into Dollars  at the time of determination on such day on the applicable Thomson Reuters screen (or another  commercially available source providing quotations of such rate as designated by the Revolving  Facility Administrative Agent from time to time) for such currency (or to the extent applicable,  the rate at which Dollars may be exchanged into such other currency).  In the event that such rate  does not appear on such applicable Thomson Reuters screen (or another commercially available  source providing quotations of such rate as designated by the Revolving Facility Administrative  Agent from time to time), 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 Revolving  Facility Administrative Agent and the applicable Borrower (or, with respect to calculations to be  made by the relevant Issuing Bank, such Issuing Bank and the U.S. Borrower), or, in the absence  of such an agreement, such Exchange Rate shall instead be the arithmetic average of the spot rates  of exchange of the Revolving Facility Administrative Agent (or, with respect to calculations to be  made by the relevant Issuing Bank, such Issuing Bank) 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 Revolving Facility Administrative Agent (or, with respect to calculations to be made by the  relevant Issuing Bank, such Issuing Bank) shall elect after determining that such rates shall be the  basis for determining the Exchange Rate, on such date for the purchase of Dollars for delivery two  (2) Business Days later; provided that if at the time of any such determination, for any reason, no  such spot rate is being quoted, the Revolving Facility Administrative Agent (or, with respect to  calculations to be made by the relevant Issuing Bank, such Issuing Bank) may use any reasonable  method it deems appropriate to determine such rate, and such determination shall be conclusive  absent manifest error.   “Excluded Information” has the meaning assigned to such term in Section 2.11(i).  “Excluded Property” means (i) any lease, lease in respect of a Capital Lease  Obligation, license, contract, permit, Instrument, Security or franchise agreement to which such  

 

  45    3141/80492-001 CURRENT/130883173v17  #95685245v21   Loan Party is a party or any property subject to a purchase money security interest, or any property  governed by any such lease, lease in respect of a Capital Lease Obligation to which such Loan  Party is a party and any of its rights or interest thereunder, to the extent, but only to the extent, that  a grant of a security interest therein in favor of the Collateral Agent would, under the terms of such  lease, lease in respect of a Capital Lease Obligation, license, contract, permit, Instrument, Security  or franchise agreement or purchase money arrangement, be prohibited by or result in a violation  of law, rule or regulation or a breach of the terms or a condition of, or constitute a default or  forfeiture under, or create a right of termination in favor of or require a consent (other than the  consent of any Loan Party and any such consent which has been obtained (it being understood and  agreed that no Loan Party or Restricted Subsidiary shall be required to seek any such consent)) of  any other party to, such lease, lease in respect of a Capital Lease Obligation, license, contract,  permit, Instrument, Security or franchise agreement or purchase money arrangement (except in the  case of a lease in respect of a Capital Lease Obligation or property subject to a Lien permitted  pursuant to Sections 6.02(c) (to the extent liens are of the type described in clause (e) of Section  6.02), (d) or (e), other than to the extent that any such law, rule, regulation, term, prohibition,  restriction or condition would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or  9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any  other applicable law (including the Bankruptcy Code) or principles of equity, and other than  receivables and proceeds of any of the foregoing the assignment of which is expressly deemed  effective under the UCC or other applicable law notwithstanding such law, rule, regulation, term  prohibition or condition); provided that immediately upon the ineffectiveness, lapse or termination  of any such law, rule, regulation, term, prohibition, restriction or condition the Collateral shall  include, and such Person shall be deemed to have granted a security interest in, all such rights and  interests as if such law, rule, regulation, term, prohibition, restriction or condition had never been  in effect; (ii) any of the outstanding Equity Interests issued by a (1) Subsidiary of the U.S.  Borrower that is a Foreign Subsidiary or a CFC Holding Company in excess of 65% of the  outstanding Equity Interests of any such Subsidiary and (2) Subsidiary of the U.S. Borrower that  is a Subsidiary of a Foreign Subsidiary or a CFC Holding Company; (iii) any Equity Interests or  assets of a Person to the extent that, and for so long as (x) such Equity Interests constitute less than  100% of all Equity Interests of such Person, and the Person or Persons holding the remainder of  such Equity Interests are not Subsidiaries of the U.S. Borrower and (y) the granting of a security  interest in such Equity Interests in favor of the Collateral Agent are not permitted by the terms of  such issuing Person’s organizational or joint venture documents or otherwise require the consent  of a Person or Persons who are not Subsidiaries of the U.S. Borrower; (iv) any Equity Interests in  and assets of an Unrestricted Subsidiary, an Immaterial Subsidiary or a Captive Insurance  Subsidiary; (v) (a) any motor vehicles and other assets subject to certificates of title, (b) Letter of  Credit Rights to the extent not constituting Supporting Obligations and with a value of less than  $5,000,000 individually (except to the extent a security interest therein can be perfected by the  filing of Uniform Commercial Code financing statements), and (c) Commercial Tort Claims with  a claim value of less than $5,000,000 individually; (vi) any “intent-to-use” trademark applications  for which a statement of use or an amendment to allege use has not been filed and accepted by the  United States Patent and Trademark Office (but only until such statement or amendment is filed  and accepted by the United States Patent and Trademark Office), and solely to the extent that, and  solely during the period in which, the grant of a security interest therein would impair the validity  or enforceability of, or void or cause the abandonment or lapse of, such application or any  registration that issues from such intent-to-use application under applicable U.S. law; (vii) any  

 

  46    3141/80492-001 CURRENT/130883173v17  #95685245v21   assets owned by a Foreign Subsidiary or a CFC Holding Company; (viii) those assets as to which  the U.S. Borrower determines (in consultation with the Administrative Agents and in writing) that  obtaining a security interest in or perfection thereof are reasonably likely to result in an adverse  tax consequence; (ix) those assets as to which the Administrative Agents and U.S. Borrower  reasonably determine, in writing, that the cost of obtaining a security interest in or perfection  thereof are excessive in relation to the benefit to the Lenders of the security to be afforded thereby;  (x) any real property leasehold interests (including any requirement to obtain any landlord waivers,  estoppels and consents); (xi)  except to the extent a security interest therein can be perfected by  the filing of Uniform Commercial Code financing statements, cash and Cash Equivalents, deposit  and securities accounts (including securities entitlements and related assets credited thereto) (in  each case, other than cash and Cash Equivalents constituting Proceeds of other “Collateral”) and  any other assets requiring perfection through control agreements or perfection by “control”;  provided that the exclusions referred to in this clause (xi) shall not include any Proceeds of any  such assets except to the extent such Proceeds constitute Excluded Property; (xii) those assets with  respect to which the granting of security interests in such assets would be prohibited by any  contract permitted under the terms of this Agreement (not entered into in contemplation thereof  and with respect to assets that are subject to such contract), applicable law or regulation (other than  to the extent that any such law, rule, regulation, term, prohibition or condition would be rendered  ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor  provision or provisions) of any relevant jurisdiction or any other applicable law (including the  Bankruptcy Code) or principles of equity, and other than receivables and proceeds of any of the  foregoing the assignment of which is expressly deemed effective under the UCC or other  applicable law notwithstanding such law, rule, regulation, term, prohibition or condition), or would  require governmental or third party (other than any Loan Party) consent, approval, license or  authorization or create a right of termination in favor of any Person (other than any Loan Party)  party to any such contract (after giving effect to the applicable anti-assignment provisions of the  Uniform Commercial Code or other applicable law other than proceeds and receivables thereof,  the assignment of which is expressly deemed effective under the Uniform Commercial Code or  other applicable law notwithstanding such prohibition); provided that immediately upon the  ineffectiveness, lapse or termination of any such law, rule, regulation, term, prohibition, condition  or provision the Collateral shall include, and such Person shall be deemed to have granted a  security interest in, all such rights and interests as if such law, rule, regulation, term, prohibition,  condition or provision had never been in effect; provided that the exclusions referred to in this  clause (xii) shall not include any Proceeds of any such assets except to the extent such Proceeds  constitute Excluded Property; (xiii) all real property; (xiv) Margin Stock; (xv) the principal amount  in excess of 65% of the total principal amount of any intercompany note, or account receivable  owed, by any Foreign Subsidiary or CFC Holding Company to or for the benefit of any Loan Party  and (xvi) any assets that are located outside of the United States of America or are governed by or  arise under the law of any jurisdiction outside of the United States of America (and no action need  be taken on or with respect to any such assets to create or perfect a security interest in any such  asset, including any intellectual property in any jurisdiction outside of the United States).   Notwithstanding anything to the contrary, “Excluded Property” shall not include any Proceeds,  substitutions or replacements of any “Excluded Property” referred to in clauses (i) through (xvi)  (unless such Proceeds, substitutions or replacements would itself or themselves independently  constitute “Excluded Property” referred to in any of clauses (i) through (xvi)).  Each category of  

 

  47    3141/80492-001 CURRENT/130883173v17  #95685245v21   Collateral set forth above shall have the meaning set forth in the UCC (to the extent such term is  defined in the UCC).   “Excluded Subsidiaries” means any Subsidiary of the U.S. Borrower that is: (a)  listed on Schedule 1.02 as of the Restatement Date; (b) a CFC or a CFC Holding Company; (c) a  not-for-profit Subsidiary; (d) a Joint Venture or a Subsidiary that is not otherwise a wholly-owned  Restricted Subsidiary; (e) an Immaterial Subsidiary; (f) an Unrestricted Subsidiary; (g) a Captive  Insurance Subsidiary or other special purpose entity, (h) prohibited by applicable Requirement of  Law or contractual obligation from guaranteeing or granting Liens to secure any of the Secured  Obligations or with respect to which any consent, approval, license or authorization from any  Governmental Authority would be required for the provision of any such guaranty (but in the case  of such guaranty being prohibited due to a contractual obligation, such contractual obligation shall  have been in place at the Restatement Date or at the time such Subsidiary became a Restricted  Subsidiary and is not created in contemplation of or in connection with such Person becoming a  Restricted Subsidiary); provided that each such Domestic Restricted Subsidiary shall cease to be  an Excluded Subsidiary solely pursuant to this clause (h) if such consent, approval, license or  authorization has been obtained (it being understood and agreed that no Loan Party or Restricted  Subsidiary shall be required to seek any such consent, approval, license or authorization); (i) with  respect to which the U.S. Borrower and the Administrative Agents reasonably agree that the cost  or other consequences (including adverse tax consequences) of providing a guaranty of the Secured  Obligations outweigh the benefits to the Lenders; (j) a direct or indirect Subsidiary of an Excluded  Subsidiary; (k) a Securitization Subsidiary; and (l) a Subsidiary that does not have the legal  capacity to provide a guarantee of the Secured Obligations; (provided that the lack of such legal  capacity does not arise from any action or omission of the U.S. Borrower or any other Loan Party);  and excluding in any event any Electing Guarantor for so long as such entity is an Electing  Guarantor.  “Excluded Swap Obligation” means, with respect to any Subsidiary Loan Party,  any Swap Obligation if, and to the extent that, all or a portion of the Guarantee of such Subsidiary  Loan Party of, or the grant by such Subsidiary Loan Party of a security interest pursuant to the  Security Documents to secure, such Swap Obligation (or any Guarantee thereof) is or becomes  illegal or unlawful under the Commodity Exchange Act or any rule, regulation or order of the  Commodity Futures Trading Commission (or the application or official interpretation of any  thereof) by virtue of such Subsidiary Loan Party’s failure for any reason to constitute an “eligible  contract participant” as defined in the Commodity Exchange Act at the time the Guarantee of such  Subsidiary Loan Party or the grant of such security interest would otherwise have become effective  with respect to such related Swap Obligation but for such Subsidiary Loan Party’s failure to  constitute an “eligible contract participant” at such time.  “Excluded Taxes” means, with respect to any Recipient:  (a) Taxes imposed on or measured by such Recipient’s overall net income or  profits, and franchise or capital Taxes imposed in lieu of overall net income or profits Taxes, as a  result of a present or former connection between the Recipient and the jurisdiction of the  Governmental Authority imposing such Tax (other than any such connection arising solely from  such Recipient having executed, delivered, enforced, become a party to, performed its obligations,  

 

  48    3141/80492-001 CURRENT/130883173v17  #95685245v21   received payments, received or perfected a security interest under, and/or engaged in any other  transaction pursuant to, any Loan Document);  (b) any branch profits Taxes imposed under Section 884(a) of the Code, or any  similar Tax, imposed by any jurisdiction described in clause (a);  (c) solely with respect to the Obligations, any United States federal withholding  Taxes that are imposed on a Recipient pursuant to a law in effect at the time such Recipient  becomes a party to this Agreement (or designates a new lending office) except (i) to the extent that  such Recipient (or its assignor, if any) was entitled, immediately prior to the designation of a new  lending office (or assignment), to receive additional amounts from any Loan Party with respect to  such withholding Tax pursuant to Section 2.17 of this Agreement or (ii) if such Recipient is an  assignee pursuant to a request by a Borrower under Section 2.19;  (d) any withholding Taxes attributable to a Recipient’s failure to comply with  Section 2.17(f) or Section 2.17(h), as applicable;   (e) any Taxes imposed under FATCA; and  (f) the Bank Levy or any amount attributable to, or liability arising as a  consequence of, the Bank Levy.  “Existing Amendment No. 3 Term Loan” means each Term Loan outstanding under  this Agreement as of the Amendment No. 3 Effective Date prior to giving effect to Amendment  No. 3.  “Existing Credit Agreement” has the meaning assigned to such term in the recitals  to this Agreement.  “Existing Lenders” has the meaning assigned to such term in the recitals to this  Agreement.  “Existing Letters of Credit” means each letter of credit previously issued or deemed  issued for the account of, or guaranteed by, the U.S. Borrower or any of the Restricted Subsidiaries  that is outstanding on the Amendment No. 3 Effective Date.  “Extended Revolving Commitment” has the meaning set forth in Section 2.24.  “Extended Term Loans” has the meaning set forth in Section 2.24.  “Extending Lenders” has the meaning set forth in Section 2.24.  “Extending Revolving Loan Lender” has the meaning set forth in Section 2.24.  “Extended Revolving Loans” has the meaning assigned to such term in Section  2.24(a).  “Extending Term Lender” has the meaning set forth in Section 2.24.  

 

  49    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Extension” has the meaning set forth in Section 2.24.  “Extension Amendment” means an amendment to this Agreement in form  reasonably satisfactory to the applicable Borrower executed by each of (a) the applicable  Borrower, (b) the Revolving Facility Administrative Agent and (c) each Extending Revolving  Loan Lender and Extending Term Lender, as the case maybe, in connection with any Extension.  “Extension Offer” has the meaning set forth in Section 2.24.  “FATCA” means Sections 1471 through 1474 of the Code as of the Closing Date  (or any amended or successor version that is substantively comparable and not materially more  onerous to comply with) and any current or future U.S. Department of Treasury regulations or  official administrative interpretations thereof, any agreements entered into pursuant to Section  1471(b)(1) of the Code, and any fiscal or regulatory legislation, rules or practices adopted pursuant  to any intergovernmental agreement entered into in connection with the implementation of such  sections of the Internal Revenue Code.  “FCPA” has the meaning set forth in Section 3.19.  “Federal Funds Effective Rate” means, for any day, the rate calculated by the  NYFRB based on such day’s federal funds transactions by depositary institutions, as determined  in such manner as  shall be set forth on the NYFRB’s Website  from time to time, and published  on the next succeeding Business Day by the NYFRB as the effective federal funds rate; provided  that if the Federal Funds Effective Rate as so determined would be less than zero, such rate shall  be deemed to be zero for the purposes of this Agreement.  “Federal Reserve Board” means the Board of Governors of the Federal Reserve  System of the United States of America.  “Fee Letter” means the Fee Letter dated as of July 3, 2017 among JPMorgan Chase  Bank, N.A., Morgan Stanley Senior Funding, Inc., MUFG Union Bank, N.A. and The Bank of  Tokyo-Mitsubishi UFJ, Ltd.  “Financial Covenant Increase Period” has the meaning set forth in Section 6.11(a).  “Financial Officer” of any Person means the chief financial officer, vice president  of finance, principal accounting officer or treasurer of such Person (or, in the case of any Person  that is a Foreign Subsidiary, a director of such Person).  “First Lien Indebtedness” means Total Indebtedness that is secured by a Lien on  assets or other property on a pari passu basis with the Liens securing the Obligations and Capital  Lease Obligations and purchase money Indebtedness.  For the avoidance of doubt, First Lien  Indebtedness includes, without limitation, any First Lien Senior Secured Notes, the Term Loans  and the Revolving Loans.  “First Lien Net Leverage Ratio” means, on any date of determination, the ratio of  (a) First Lien Indebtedness, less the aggregate amount of unrestricted cash and Cash Equivalents  of the U.S. Borrower and its Restricted Subsidiaries as of such date (but including any amounts  

 

  50    3141/80492-001 CURRENT/130883173v17  #95685245v21   held by or for the benefit of the U.S. Borrower or Domestic Restricted Subsidiaries for the purpose  of repurchasing, redeeming or otherwise acquiring the Senior Notes) to (b) Consolidated EBITDA  for the period of four consecutive fiscal quarters of the U.S. Borrower most recently ended on or  prior to such date of determination for which financial statements have been furnished pursuant to  Section 5.01.  “First Lien Senior Secured Notes” means Additional Term Notes, Term Loan  Exchange Notes, Unrestricted Additional Term Notes or Refinancing Notes, in each case that are  not subordinated in right of payment to the Initial Tranche A-1 Term Loans, the Initial Tranche A- 2 Term Loans and the Initial Revolving Loans and are secured by any Lien other than any Lien  that is junior to the Lien securing the Obligations.  “Floor” means the benchmark rate floor, if any, provided in this Agreement initially  (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement  or otherwise) with respect to the Adjusted Term SOFR Rate, Adjusted EURIBOR Rate, Adjusted  CDOR Rate, each Adjusted Daily Simple RFR or the Central Bank Rate, as applicable.  For the  avoidance of doubt the initial Floor for each of Adjusted Term SOFR Rate, Adjusted EURIBOR  Rate, Adjusted CDOR Rate, each Adjusted Daily Simple RFR or the Central Bank Rate shall be  0.00%.   “Foreign Benefit Event” shall mean, with respect to any Foreign Pension Plan, (a)  the existence of unfunded liabilities in excess of the amount permitted under any applicable law,  or in excess of the amount that would be permitted absent a waiver from a Governmental  Authority, (b) the failure to make the required contributions or payments, under any applicable  law, on or before the due date for such contributions or payments, (c) the receipt of a notice by a  Governmental Authority relating to the intention to terminate any such Foreign Pension Plan or to  appoint a trustee or similar official to administer any such Foreign Pension Plan, or alleging the  insolvency of any such Foreign Pension Plan, (d) the incurrence of any liability in excess of  $50,000,000 by any Loan Party or any of its Subsidiaries under applicable law on account of the  complete or partial termination of such Foreign Pension Plan or the complete or partial withdrawal  of any participating employer therein, or (e) the occurrence of any transaction that is prohibited  under any applicable law and that could reasonably be expected to result in the incurrence of any  liability by any Loan Party or any of its Subsidiaries, or the imposition on any Loan Party or any  of its Subsidiaries of any fine, excise tax or penalty resulting from any noncompliance with any  applicable law, in each case in excess of $50,000,000.  “Foreign Disposition” has the meaning assigned to such term in Section 2.11(f).  “Foreign Pension Plan” shall mean any benefit plan sponsored, maintained or  contributed to by any Loan Party or any Subsidiary that, under applicable law other than the laws  of the United States or any political subdivision thereof, is required to be funded through a trust or  other funding vehicle other than a trust or funding vehicle maintained exclusively by a  Governmental Authority.  “Foreign Prepayment Event” has the meaning assigned to such term in Section  2.11(f).  

 

  51    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Foreign Lender” means a Lender that is not a U.S. Person.  “Foreign Subsidiary” means any Subsidiary that is organized or incorporated under  the laws of a jurisdiction other than the United States of America, any state thereof or the District  of Columbia.  “GAAP” means, subject to the limitations set forth in Section 1.04, generally  accepted accounting principles in the United States of America as in effect from time to time.  “Governing Body” means the board of directors or other body having the power to  direct or cause the direction of the management and policies of a Person that is a corporation,  company, partnership, trust, limited liability company, association, Joint Venture or other business  entity.  “Governmental Authority” means the government of the United States of America,  the United Kingdom, and any other nation or any political subdivision thereof, whether state,  county, provincial, local or otherwise, 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  bodies such as the European Union or the European Central Bank) and any group or body charged  with setting financial accounting or regulatory capital rules or standards (including, without  limitation, the Financial Accounting Standards Board, the Bank for International Settlements or  the Basel Committee on Banking Supervision or any successor or similar authority to any of the  foregoing).  “Granting Lender” has the meaning assigned to such term in Section 9.04(e).  “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 thereof,  (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 obligation; provided that the term “Guarantee” shall not  include (x) endorsements for collection or deposit in the ordinary course of business and (y)  standard contractual indemnities or product warranties provided in the ordinary course of business;  and provided further that the amount of any Guarantee shall be deemed to be the lower of (i) an  amount equal to the stated or determinable amount of the primary obligation in respect of which  such Guarantee is made and (ii) the maximum amount for which such guaranteeing Person may  be liable pursuant to the terms of the instrument embodying such Guarantee or, if such Guarantee  is not an unconditional guarantee of the entire amount of the primary obligation and such  maximum amount is not stated or determinable, the amount of such guaranteeing Person’s  

 

  52    3141/80492-001 CURRENT/130883173v17  #95685245v21   maximum reasonably anticipated liability in respect thereof as determined by such Person in good  faith.  The term “Guaranteed” has a meaning correlative thereto.  “Hazardous Materials” means all explosive or radioactive substances, materials or  wastes and all hazardous or toxic substances, materials, 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, materials or wastes of  any nature regulated pursuant to any Environmental Law.  “Hong Kong Dollars” means the lawful currency of Hong Kong.  “Immaterial Subsidiary” means, at any date of determination, any Domestic  Restricted Subsidiary of the U.S. Borrower that has been designated by the U.S. Borrower in  writing to each Administrative Agent as an “Immaterial Subsidiary” for purposes of this  Agreement; provided that (a) for purposes of this Agreement, at no time shall (i) the Consolidated  Total Assets of all Immaterial Subsidiaries as of the last day of the then most recent fiscal year of  the U.S. Borrower for which financial statements have been delivered equal or exceed 7.5% of the  Consolidated Total Assets of the U.S. Borrower and the Restricted Subsidiaries at such date,  determined on a Pro Forma Basis or (ii) the consolidated revenues (other than revenues generated  from the sale or license of property between any of the U.S. Borrower and its Restricted  Subsidiaries) of all Immaterial Subsidiaries for the then most recent fiscal year of the U.S.  Borrower for which financial statements have been delivered equal or exceed 7.5% of the  consolidated revenues (other than revenues generated from the sale or license of property between  any of the U.S. Borrower and its Restricted Subsidiaries) of the U.S. Borrower and the Restricted  Subsidiaries for such period, determined on a Pro Forma Basis, (b) at any time and from time to  time, the U.S. Borrower may designate any Restricted Subsidiary as a new Immaterial Subsidiary  so long as, after giving effect to such designation, the consolidated assets and consolidated  revenues of all Immaterial Subsidiaries do not exceed the limits set forth in clause (a) above at  such time of designation and (c) if, as of the date the financial statements for any fiscal year of the  U.S. Borrower are delivered or required to be delivered pursuant to Section 5.01(a), the  consolidated assets or revenues of all Restricted Subsidiaries so designated by the U.S. Borrower  as “Immaterial Subsidiaries” shall have, as of the last day of such fiscal year, exceeded the limits  set forth in clause (a) above, then within ten (10) Business Days (or such later date as agreed by  each Administrative Agent in its reasonable discretion) after such date, the U.S. Borrower shall  redesignate one or more current Immaterial Subsidiaries as a Domestic Restricted Subsidiary that  is not an Immaterial Subsidiary, in each case in a written notice to each Administrative Agent,  such that, as a result thereof, the consolidated assets and revenues of all Restricted Subsidiaries  that are still designated as “Immaterial Subsidiaries” do not exceed such limits. Upon any such  Restricted Subsidiary ceasing to be an Immaterial Subsidiary pursuant to the preceding sentence,  such Restricted Subsidiary, to the extent not otherwise qualifying as an Excluded Subsidiary, shall  comply with Section 5.10, to the extent applicable.  “Incremental Facility” has the meaning assigned to such term in Section 2.20.    “Incremental Facility Amendment” has the meaning assigned to such term in  Section 2.20(c).  

 

  53    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Incremental Facility Closing Date” has the meaning assigned to such term in  Section 2.20(c).  “Incremental Loans” means, collectively, the Incremental Revolving Loans and the  Incremental Term Loans.  “Incremental Revolving Commitment” means, with respect to each Lender, the  commitment, if any, of such Lender to make an Incremental Revolving Loan under any  Incremental Facility Amendment with respect thereto, expressed as an amount representing the  maximum principal amount of the Incremental Revolving Loans to be made by such Lender under  such Incremental Facility Amendment, as such commitment may be (a) reduced pursuant to  Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such  Lender pursuant to Section 9.04.    “Incremental Revolving Facility” has the meaning assigned to such term in Section  2.20(a).   “Incremental Revolving Lender” has the meaning assigned to such term in Section  2.20(e).   “Incremental Revolving Loan” means a Loan made under an Incremental  Revolving Facility.  “Incremental Term Commitment” means, with respect to each Lender, the  commitment, if any, of such Lender to make an Incremental Term Loan under any Incremental  Facility Amendment with respect thereto, expressed as an amount representing the maximum  principal amount of the Incremental Term Loans to be made by such Lender under such  Incremental Facility Amendment, as such commitment may be (a) reduced from time to time  pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments  by or to such Lender pursuant to Section 9.04.    “Incremental Term Facility” has the meaning assigned to such term in Section  2.20(a).  “Incremental Term Loan” means a Loan made under an Incremental Term Facility.  “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 of such  Person in respect of the deferred purchase price of property or services, (e) all obligations of the  type described in clauses (a), (b), (c), (d), (f), (g), (h), (i), (j) or (k) of this definition of  “Indebtedness” of others secured by (or for which the holder of such Indebtedness has an existing  unconditional right to be secured by) any Lien on property owned or acquired by such Person,  whether or not the Indebtedness secured thereby has been assumed by such Person, (f) all  Guarantees by such Person of obligations of the type described in clauses (a), (b), (c), (d), (e), (g),  (h), (i), (j) or (k) of this definition of “Indebtedness” of others, (g) the principal component of  

 

  54    3141/80492-001 CURRENT/130883173v17  #95685245v21   Capital Lease Obligations of such Person, (h) all reimbursement obligations of such Person as an  account party in respect of letters of credit and letters of guaranty (except to the extent such letters  of credit or letters of guaranty relate to trade payables and such outstanding amounts are satisfied  within thirty (30) days of incurrence), (i) all reimbursement obligations, of such Person in respect  of bankers’ acceptances (except to the extent such bankers’ acceptances relate to trade payables  and such outstanding amounts are satisfied within thirty (30) days of incurrence), (j) all obligations  of such Person, contingent or otherwise, to purchase, redeem, retire or otherwise acquire for value  any Disqualified Equity Interests of such Person to the extent that such purchase, redemption,  retirement or other acquisition is required to occur on or prior to the Latest Maturity Date in effect  at the time of issuance of such Equity Interests (other than as a result of a Change in Control, asset  sale or similar event), and (k) to the extent not otherwise included in this definition, net obligations  of such Person under Swap Obligations (the amount of any such obligations to be equal at any  time to the net payments under such agreement or arrangement giving rise to such obligation that  would be payable by such Person at the termination of such agreement or arrangement; provided,  however, that (A) intercompany Indebtedness and (B) obligations constituting non-recourse  Indebtedness shall only constitute “Indebtedness” for purposes of Section 6.01 and not for any  other purpose hereunder).  The Indebtedness of any Person shall include the Indebtedness of 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 such entity, except to the extent the terms of such  Indebtedness provide that such Person is not liable therefor. Notwithstanding the foregoing, in no  event shall the following constitute Indebtedness: (v) trade accounts payable, deferred revenues,  liabilities associated with customer prepayments and deposits and any such obligations incurred  under ERISA, and other accrued obligations (including transfer pricing), in each case incurred in  the ordinary course of business, (w) operating leases, (x) customary obligations under employment  agreements and deferred compensation and (y) deferred revenue and deferred tax liabilities.   Notwithstanding the foregoing, the term “Indebtedness” shall not include contingent post-closing  purchase price adjustments, non-compete or consulting obligations or earn-outs to which the seller  in an Acquisition or Investment may become entitled.  The amount of Indebtedness of any Person  for purposes of clause (e) above shall (unless such Indebtedness has been assumed by such Person)  be deemed to be equal to the lesser of (i) the aggregate unpaid amount of such Indebtedness and  (ii) the fair market value of the property encumbered thereby as determined by such Person in good  faith.  “Indemnified Taxes” means (a)  Taxes, other than Excluded Taxes and VAT  (which, for the avoidance of doubt, shall be dealt with under Section 2.17(k)), imposed on or with  respect to any payment made by or on account of any obligation of any Loan Party and (b) to the  extent not otherwise described in (a), Other Taxes.   “Indemnitee” has the meaning assigned to such term in Section 9.03.   “Indemnified Liabilities” has the meaning assigned to such term in Section 9.03.  “Information” has the meaning assigned to such term in Section 9.12.  “Initial Revolving Commitments” means the Revolving Commitments of the  Revolving Lenders as of the Amendment No. 3 Effective Date.  

 

  55    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Initial Revolving Loan” means a Revolving Loan made by a Lender to the  applicable Borrower in respect of an Initial Revolving Commitment pursuant to Section 2.01(b).  “Initial Tranche A-1 Term Loans” means the Tranche A-1 Term Loans made (or  deemed made) on the Amendment No. 3 Effective Date.  “Initial Tranche A-2 Term Loans” means the Tranche A-2 Term Loans made (or  deemed made) on the Amendment No. 3 Effective Date.  “Intellectual Property” means all rights, priorities and privileges in or to intellectual  property, whether arising under United States, multinational or foreign laws or otherwise,  including copyrights, patents, trademarks, service marks, trade names, technology, know-how,  trade secrets and processes, all registrations and applications for registration of any of the  foregoing, and all goodwill associated with any of the foregoing.  “Intercompany License Agreement” means any cost sharing agreement,  commission or royalty agreement, license or sub-license agreement, distribution agreement,  services agreement, Intellectual Property rights transfer agreement or any related agreements, in  each case where all the parties to such agreement are one or more of the U.S. Borrower or a  Restricted Subsidiary.  “Interest Election Request” means a request by the applicable Borrower to convert  or continue a Revolving Loan Borrowing or Term Loan Borrowing in accordance with Section  2.07.  “Interest Payment Date” means (a) with respect to any ABR Loan or Canadian  Prime Loan (other than a Swingline Loan), the last day of each March, June, September and  December and the applicable Maturity Date, (b) with respect to any RFR Loan, (1) each date that  is on the numerically corresponding day in each calendar month that is one month after the  Borrowing of such Loan (or, if there is no such numerically corresponding day in such month, then  the last day of such month) and (2) the applicable Maturity Date, (c) with respect to any Term  Benchmark Loan, the last day of each Interest Period applicable to the Borrowing of which such  Loan is a part and, in the case of a Term Benchmark 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 the applicable  Maturity Date and (d) with respect to any Swingline Loan, the day that such Loan is required to  be repaid and the applicable Maturity Date.  “Interest Period” means with respect to any Term Benchmark Borrowing, the  period commencing on the date of such Borrowing and ending on the numerically corresponding  day in the calendar month that is one, three or six months thereafter (or, with respect to the  Revolving Credit Facility, any duration shorter than one month thereafter if, at the time of the  relevant Borrowing or conversion or continuation thereof, all Lenders participating therein agree  to make an interest period of such duration available (provided, that, the applicable interest period  for the purposes of calculating the Relevant Rate shall be deemed to be one-month) and in each  case, subject to the availability for the Benchmark applicable to the relevant Loan or Commitment  for any Agreed Currency), as the applicable Borrower may elect; provided, that (i) if any Interest  

 

  56    3141/80492-001 CURRENT/130883173v17  #95685245v21   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,  (ii) 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 and  (iii) no tenor that has been removed from this definition pursuant to Section 2.14(e) shall be  available for specification in such Borrowing Request or Interest Election Request.  For purposes  hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and,  in the case of a Revolving Borrowing, thereafter shall be the effective date of the most recent  conversion or continuation of such Borrowing.  “Investment” means (i) any purchase or other acquisition by the U.S. Borrower or  any of the Restricted Subsidiaries of, or of a beneficial interest in, any Equity Interests or  Indebtedness of any other Person (including any Subsidiary) and (ii) any loan or advance  constituting Indebtedness made by the U.S. Borrower or any of its Restricted Subsidiaries to any  other Person (other than accounts receivable, trade credit, prepayments to, or deposits with,  vendors, advances to officers, directors, members of management and employees for moving,  entertainment and travel expenses, drawing accounts and similar expenditures in the ordinary  course of business) or capital contribution by the U.S. Borrower or any of the Restricted  Subsidiaries to any other Person (including any Subsidiary); provided that, in the event that any  Investment is made by the U.S. Borrower or any Restricted Subsidiary in any Person through  substantially concurrent interim transfers of any amount through any other Restricted Subsidiaries,  then such other substantially concurrent interim transfers shall be disregarded for purposes of  Section 6.04. The amount of any Investment outstanding as of any time shall be the original cost  of such Investment (which, in the case of any Investment constituting the contribution of an asset  or property, shall be based on the U.S. Borrower’s good faith estimate of the fair market value of  such asset or property at the time such Investment is made) plus the cost of all additions thereto,  without any adjustments for increases or decreases in value, or write-ups, write-downs or write- offs with respect to such Investment, less all Returns received by the U.S. Borrower or any  Restricted Subsidiary in respect thereof.  “IRS” means the United States 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, as the context may require, (a) JPMorgan Chase Bank,  N.A., Wells Fargo Bank, National Association, Bank of America, N.A., MUFG Bank, N.A., PNC  Bank, National Association, Citizens Bank, N.A., Capital One, N.A. or another Lender reasonably  satisfactory to the U.S. Borrower and agreed to by such other Lender, each in its capacity as the  issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section  2.05(k), and (b) with respect to each Existing Letter of Credit, any Lender that, or any Lender  whose Affiliate, issued such Existing Letter of Credit.  Any Issuing Bank may, with the consent  of the U.S. Borrower, arrange for one or more Letters of Credit to be issued by an Affiliate of such  Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect  

 

  57    3141/80492-001 CURRENT/130883173v17  #95685245v21   to Letters of Credit issued by such Affiliate.  At any time the U.S. Borrower shall have the right to  select additional Lenders to act as Issuing Bank(s) hereunder with the consent of such Lenders.  “Joint Bookrunners” means (i) JPMorgan Chase Bank, N.A., Wells Fargo  Securities, LLC, BofA Securities, Inc., MUFG Bank, Ltd., PNC Capital Markets LLC, and  Citizens Bank, N.A. and Capital One, N.A., each in its capacity as a joint bookrunner in respect of  the Tranche A Term Facilities provided herein and (ii) JPMorgan Chase Bank, N.A., Wells Fargo  Securities, LLC, BofA Securities, Inc., MUFG Bank, Ltd., PNC Capital Markets LLC, and  Citizens Bank, N.A. and Capital One, N.A., each in its capacity as a joint bookrunner in respect of  the Revolving Credit Facility provided herein.   “Joint Lead Arrangers” means (i) JPMorgan Chase Bank, N.A., Wells Fargo  Securities, LLC, BofA Securities, Inc., MUFG Bank, Ltd., PNC Capital Markets LLC, and  Citizens Bank, N.A. and Capital One, N.A., each in its capacity as a joint lead arranger in respect  of the Tranche A Term Facilities provided herein and (ii) JPMorgan Chase Bank, N.A., Wells  Fargo Securities, LLC, BofA Securities, Inc., MUFG Bank, Ltd., PNC Capital Markets LLC, and  Citizens Bank, N.A. and Capital One, N.A., each in its capacity as a joint lead arranger in respect  of the Revolving Credit Facility provided herein.  The Joint Lead Arrangers are sometimes also  referred to herein as the “Arrangers.”  “Joint Venture” means a joint venture, partnership or similar arrangement, whether  in corporate, partnership or other legal form.  “Judgment Currency” has the meaning assigned to such term in Section 9.17.  “Latest Maturity Date” means, at any date of determination, the latest maturity date  applicable to any Loan or Commitment hereunder at such time, including the latest maturity date  of any Incremental Term Loan, Incremental Revolving Commitment, Incremental Revolving  Loan, Extended Term Loan, Extended Revolving Commitment, Extended Revolving Loan, Other  Term Loan, any Other Term Commitment, any Other Revolving Loan or any Other Revolving  Commitment, in each case as extended in accordance with this Agreement from time to time.  “LC Disbursement” means a payment made by the Issuing Bank pursuant to a  Letter of Credit.  The amount of any LC Disbursement made by the Issuing Bank in an Alternative  Currency and not reimbursed by the U.S. Borrower shall be determined as set forth in paragraph (e)  of Section 2.05.  “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount  of all outstanding Letters of Credit denominated in Dollars at such time, (b) the aggregate amount  of all LC Disbursements in respect of Letters of Credit made in Dollars that have not yet been  reimbursed by or on behalf of the U.S. Borrower at such time, and (c) the Alternative Currency  LC Exposure at such time.  The LC Exposure of any Revolving Lender shall be its Applicable  Percentage of the aggregate LC Exposure at such time.  “LC Sublimit” means the lesser of (x) $25,000,000 and (y) the aggregate amount  of Revolving Commitments.  The LC Sublimit is part of, and not in addition to, the Revolving  Facility.  

 

  58    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Lender Counterparty” means any counterparty to a Secured Swap Agreement or  Secured Cash Management Agreement.  “Lenders” means the Persons who are “Lenders” under this Agreement on the  Restatement Date, any Additional Lenders, any Additional Refinancing Lenders and any other  Person that shall have become a party hereto as a Lender pursuant to Section 9.04, other than any  such Person that ceases to be a party hereto pursuant to Section 9.04.    “Letter of Credit” means (a) any letter of credit issued pursuant to this Agreement  (including each Existing Letter of Credit) or (b) any guarantee, indemnity or other instrument, in  each case in a form requested by the U.S. Borrower and agreed by the applicable Issuing Bank.   “Letter of Credit Application” means an application and agreement for the issuance  or amendment of a Letter of Credit in the form from time to time in use by the Issuing Bank.  “Letter of Credit Expiration Date” means the Revolving Maturity Date (or, if such  day is not a Business Day, the immediately preceding Business Day).  “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,  pledge, charge, assignment by way of security, hypothecation, security interest or similar  encumbrance given in the nature of a 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.  “Loan Documents” means this Agreement, Amendment No. 1, Amendment No. 2,  Amendment No. 3, each Incremental Facility Amendment, each Refinancing Amendment, the  Security Documents, the Subsidiary Guaranty, the Parent Guaranty, any Extension Amendment,  any  Permitted Repricing Amendment and each schedule, exhibit or annex to any of the foregoing.  “Loan Parties” means the U.S. Borrower, the U.K. Borrower and the Subsidiary  Loan Parties.  “Loans” means the Term Loans, the Revolving Loans, the Swingline Loans, the  Other Revolving Loans and any other loans made by any Lenders to a Borrower pursuant to this  Agreement, any Incremental Facility Amendment, Extension Amendment or any Refinancing  Amendment.  “LTM EBITDA” means, at any time, Consolidated EBITDA for the period of four  consecutive fiscal quarters of the U.S. Borrower most recently ended on or prior to such date of  determination for which financial statements have been furnished pursuant to Section 5.01.  “Margin Stock” has the meaning assigned thereto in Regulation U of the Federal  Reserve Board.  “Material Adverse Effect” means a material and adverse effect on (i) the business,  assets, results of operations or financial condition of the U.S. Borrower and its Restricted  

 

  59    3141/80492-001 CURRENT/130883173v17  #95685245v21   Subsidiaries, taken as a whole or (ii) the remedies available to any Agent and the Lenders,  collectively, under the Loan Documents.  “Material Indebtedness” means any Indebtedness (other than the Loans and Letters  of Credit) of the U.S. Borrower or any Restricted Subsidiary in an outstanding principal amount  exceeding $100,000,000 at such time.   “Material Intellectual Property” means any Intellectual Property owned by the U.S.  Borrower or any Restricted Subsidiary that is, as determined by the U.S. Borrower in its reasonable  discretion, material to the operation of the business of the U.S. Borrower and its Restricted  Subsidiaries, taken as a whole.  “Material Subsidiary” shall mean, at any date of determination, each Restricted  Subsidiary of the U.S. Borrower that is not an Immaterial Subsidiary.  “Maximum Rate” has the meaning assigned to such term in Section 9.13.  “Maximum Tender Condition” has the meaning specified in Section 2.25(d).  “Mexican Pesos” means the lawful currency of Mexico.  “Minimum Extension Condition” has the meaning set forth in Section 2.24.  “Minimum Tender Condition” has the meaning specified in Section 2.25(d).  “MLI” means the Multilateral Convention to Implement Tax Treaty Related  Measures to Prevent Base Erosion and Profit Shifting of 24 November 2016.  “MLI Disclosure Condition” means the freely accessible publication of the relevant  MLI Reservation or MLI Notification on the OECD website (to the extent that such MLI  Reservation or MLI Notification has not been withdrawn or superseded and taking into account  any applicable amendments) no later than ten (10) Business Days prior to the Amendment No. 3  Effective Date where the relevant Lender is a Lender at that date, or, if later, no later than ten (10)  Business Days prior to the date on which the relevant Lender became a Lender under this  Agreement.  “MLI Lender Jurisdiction” means the jurisdiction in which the relevant Lender is  treated as resident for the purposes of the Relevant Covered Tax Agreement.  “MLI Notification” means a notification validly made pursuant to Article 29(3),  29(4) or 29(6) of the MLI.  “MLI Reservation” means a reservation validly made pursuant to Article 28(6),  28(7) or 28(9) of the MLI.  “Moody’s” means Moody’s Investors Service, Inc. or any successor thereto.   

 

  60    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Multiemployer Plan” means a multiemployer plan as defined in Section  4001(a)(3) of ERISA to which any Loan Party (other than the U.K. Borrower) or any of its ERISA  Affiliates contributes or with respect to which any Loan Party (other than the U.K. Borrower) or  any of its ERISA Affiliates has any liability.  “Net Proceeds” means, with respect to any event, (a) the cash proceeds received in  respect of such event, including (x) in the case of a Disposition of an asset (including pursuant to  a Sale Leaseback transaction or a casualty or a condemnation or similar proceeding), any cash  received in respect of any non-cash proceeds (including any cash payments received by way of  deferred payment of principal pursuant to a note or installment receivable or purchase price  adjustment or earn-out, but excluding any reasonable interest payments), but only as and when  received, (y) in the case of a casualty, cash insurance proceeds, and (z) in the case of a  condemnation or similar event, cash condemnation awards and similar payments received in  connection therewith, minus (b) the sum of (i) all reasonable fees and expenses (including  commissions, discounts, transfer taxes and legal, accounting and other professional and  transactional fees and expenses) paid or payable by the U.S. Borrower and the Restricted  Subsidiaries to third parties in connection with such event, (ii) in the case of a Disposition of an  asset (including pursuant to a Sale Leaseback transaction or a casualty or a condemnation or similar  proceeding), the amount of payments made or required to be made in respect of Indebtedness  (other than Loans) secured by such asset or otherwise subject to mandatory prepayment (other than  under this Agreement) as a result of such event, or which by applicable law is required to be repaid  out of the proceeds of such Disposition, casualty, condemnation or similar proceeding, (iii) the  amount of all taxes (or Restricted Payments in respect of such taxes) paid (or reasonably estimated  to be payable or accrued as a liability under GAAP) by the U.S. Borrower and the Restricted  Subsidiaries as a result of such event, (iv) the amount of any reserves established by the U.S.  Borrower or the applicable Restricted Subsidiaries to fund liabilities estimated to be payable as a  result of such event (as determined in good faith by the applicable Responsible Officer of the U.S.  Borrower or such Restricted Subsidiary), (v) in the case of any Disposition or casualty or  condemnation or similar proceeding by a non-wholly owned Restricted Subsidiary, the pro rata  portion of the Net Proceeds thereof (calculated without regard to this clause (v)) attributable to  minority interests and not available for distribution to or for the account of U.S. Borrower or a  wholly owned Restricted Subsidiary as a result thereof and (vi) any funded escrow established  pursuant to the documents evidencing any such sale or disposition to secure any indemnification  obligations or adjustments to the purchase price or other similar obligations associated with any  such sale or disposition; provided that such funds shall constitute Net Proceeds immediately upon  their release from escrow unless applied to satisfy such obligations.  “Non-Consenting Lender” has the meaning assigned to such term in Section  9.02(c).  “Nonrenewal Notice Date” has the meaning specified in Section 2.05(c).  “Norwegian Kroner” means the lawful currency of Norway.  “Note” means a Term Note or a Revolving Note, as the context may require.  “NYFRB” means the Federal Reserve Bank of New York.  

 

  61    3141/80492-001 CURRENT/130883173v17  #95685245v21   “NYFRB’s Website” means the website of the NYFRB at  http://www.newyorkfed.org (or any successor source).  “NYFRB 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 (or for  any day that is not a Business Day, for the immediately preceding Business Day); provided that if  none of such rates are published for any day that is a Business Day, the term “NYFRB Rate” means  the rate for a federal funds transaction quoted at 11:00 a.m. on such day received by the applicable  Administrative Agent from a federal funds broker of recognized standing selected by it; provided,  further, that if any of the aforesaid rates as so determined be less than zero, such rate shall be  deemed to be zero for purposes of this Agreement.  “Obligations” means all obligations of every nature of each Loan Party, including  obligations from time to time owed to the Administrative Agents, the Collateral Agent, any other  Agent, any Joint Lead Arranger, any Joint Bookrunner, any Documentation Agent, any  Syndication Agent, the Issuing Bank, the Lenders or any of them, arising under any Loan  Document, whether for principal, interest (including interest which, but for the filing of a petition  in bankruptcy with respect to such Loan Party, would have accrued on any Obligation, whether or  not a claim is allowed against such Loan Party for such interest in the related bankruptcy  proceeding), prepayment premiums, reimbursement of amounts drawn under Letters of Credit  issued for the account of the U.S. Borrower and/or any Restricted Subsidiary, fees (including fees  which, but for the filing of a petition in bankruptcy with respect to such Loan Party, would have  accrued on any Obligation, whether or not a claim is allowed against such Loan Party for such fees  in the related bankruptcy proceeding), expenses (including expenses which, but for the filing of a  petition in bankruptcy solely with respect to such Loan Party, would have accrued on any  Obligation, whether or not a claim is allowed against such Loan Party for such expenses in the  related bankruptcy proceeding), indemnification or otherwise.     “Organizational Documents” of any Person means the charter, memorandum and  articles of association, articles or certificate of organization or incorporation and bylaws or other  organizational or governing or constitutive documents of such Person.  “Other Applicable Indebtedness” has the meaning assigned to such term in Section  2.11(c).  “Other Revolving Commitments” means, with respect to each Additional  Refinancing Lender, the commitment, if any, of such Additional Refinancing Lender to make one  or more Classes of Other Revolving Loans under any Refinancing Amendment, expressed as an  amount representing the maximum principal amount of the Other Revolving Loans to be made by  such Lender under such Refinancing Amendment, as such commitment may be (a) reduced  pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments  by or to such Lender pursuant to Section 9.04.    “Other Revolving Loans” means the Revolving Loans made pursuant to any Other  Revolving Commitment.  

 

  62    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Other Taxes” means any and all present or future recording, stamp, documentary,  excise, transfer, sales, property, intangible, filing or similar Taxes, charges or levies arising from  any payment made under any Loan Document or from the execution, delivery, performance,  registration or enforcement of, or from the registration, receipt or perfection of a security interest  under, or otherwise with respect to, any Loan Document, except any such Taxes imposed with  respect to an assignment (but without prejudice to the provisions of Section 2.19) (i) as a result of  a present or former connection between such Recipient and the jurisdiction imposing such Tax  (other than connections 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, engaged in any other transaction pursuant to or enforced any Loan Document, or  sold or assigned an interest in any Loan or Loan Document) or (ii), in the case U.K. stamp duty  and stamp duty reserve tax only, as a result of the fact that the U.K. Borrower is incorporated in  the United Kingdom.  “Other Term Commitments” means, with respect to each Additional Refinancing  Lender, the commitment, if any, of such Additional Refinancing Lender to make one or more  Classes of Other Term Loans under any Refinancing Amendment, expressed as an amount  representing the maximum principal amount of the Other Term Loans to be made by such Lender  under such Refinancing Amendment, as such commitment may be (a) reduced pursuant to Section  2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender  pursuant to Section 9.04.  “Other Term Loans” means one or more Classes of Term Loans made pursuant to  or that result from a Refinancing Amendment.  “Overnight Bank Funding Rate” means, for any day, the rate comprised of both  overnight federal funds and overnight eurodollar transactions denominated in Dollars by U.S.- managed banking offices of depository institutions, as such composite rate shall be determined by  the NYFRB as set forth on the NYFRB’s Website from time to time, and published on the next  succeeding Business Day by the NYFRB as an overnight bank funding rate.  “Parent Guaranty” means the Parent Guaranty executed and delivered by the U.S.  Borrower on the Amendment No. 1 Effective Date substantially in the form of Exhibit K, as such  may be amended, restated, amended and restated, supplemented or otherwise modified from time  to time.  “Participant” has the meaning assigned to such term in Section 9.04(c).    “Participant Register” has the meaning specified in Section 9.04(c).  “Participating Lender” has the meaning assigned to such term in the definition  “Dutch Auction”.  “Participating Member State” means each state so described in any EMU  Legislation.  “Patriot Act” has the meaning assigned to such term in Section 9.14.  

 

  63    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Payment” has the meaning assigned to such term in Section 8.14.  “Payment Notice” has the meaning assigned to such term in Section 8.14.  “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined  in ERISA and any successor entity performing similar functions.  “Permitted Acquisition” means any Acquisition by the U.S. Borrower or any  Restricted Subsidiary if (a) at the time of execution of a binding agreement in respect of such  Acquisition, no Event of Default has occurred and is continuing or would result therefrom, (b) all  actions required to be taken with respect to such acquired or newly formed Restricted Subsidiary  (other than any Excluded Subsidiary) or such acquired assets (other than Excluded Property) under  Section 5.10 and Section 5.11 will be taken in accordance therewith (to the extent required), (c)  after giving effect to such Acquisition, the U.S. Borrower and its Restricted Subsidiaries are in  compliance with Section 5.13 and (d) the U.S. Borrower has delivered to each Administrative  Agent a certificate of its Financial Officer to the effect set forth in clauses (a), (b) and (c) above;  provided that the conditions in clause (d) of this definition shall not be applicable to any such  Acquisition having a purchase price (which shall be deemed (i) to include the principal amount of  Indebtedness that is assumed pursuant to Section 6.01(e) or otherwise incurred in connection with  such Acquisition and (ii) to exclude any (x) Qualified Equity Interests issued in payment of any  portion of such purchase price and (y) fees and expenses incurred in connection with such  acquisition) less than or equal to $100,000,000.  “Permitted Debt Exchange” has the meaning specified in Section 2.25(a).  “Permitted Debt Exchange Offer” has the meaning specified in Section 2.25(a).  “Permitted Encumbrances” means:  (a) Liens imposed by law for taxes, assessments or other governmental charges  or levies that are not yet due or delinquent, are not more than sixty (60) days overdue (or, if more  than sixty (60) days overdue, are unfiled and no other action has been taken with respect to such  Lien), are not required to be paid pursuant to Section 5.04, or are being contested in compliance  with Section 5.04;  (b) carriers’, warehousemen’s, supplier’s, construction contractor’s, workmen,  mechanics,’ materialmen’s, repairmen’s, landlords’ and other like Liens imposed by law or  contract, arising in the ordinary course of business and securing obligations (i) that are not yet due  or delinquent or (ii)(x) that are not overdue by more than sixty (60) days (or, if more than sixty  (60) days overdue, are unfiled and no other action has been taken with respect to such Lien), (y) are  not required to be paid pursuant to Section 5.05 or (z) are being contested on terms similar to such  terms set forth in Section 5.04;  (c) Liens, pledges and deposits made in the ordinary course of business in  compliance with workers’ compensation, unemployment insurance and other social security laws  or regulations;  

 

  64    3141/80492-001 CURRENT/130883173v17  #95685245v21   (d) (i) Liens, pledges and deposits to secure the performance of bids,  government contracts, trade contracts (other than for borrowed money), leases, statutory  obligations, deductibles, co-payment, co-insurance, retentions, premiums, reimbursement  obligations or similar obligations to providers of insurance, self-insurance or reinsurance  obligations, surety, stay, customs and appeal or similar bonds, performance bonds and other  obligations of a like nature (including those to secure health, safety and environmental obligations)  and other similar obligations and (ii) obligations in respect of letters of credit or bank guarantees  that have been posted to support payment of the items set forth in clause (i) of this section (d);  (e) attachment or judgment liens in respect of judgments or decrees that do not  constitute an Event of Default under Section 7.01(j);   (f) easements, zoning restrictions, rights-of-way, encroachments, minor  defects or irregularities in title and similar encumbrances on real property imposed by law or  arising in the ordinary course of business and that either (i) individually or in the aggregate do not  materially interfere with the ordinary conduct of business of the U.S. Borrower and its Restricted  Subsidiaries, taken as a whole or (ii) are described in a mortgage policy of title insurance or survey  with respect to any real property;   (g) customary rights of first refusal and tag, drag and similar rights in Joint  Venture agreements;   (h) Liens on Cash Equivalents described in clause (d) of the definition of the  term “Cash Equivalents”; and  (i) with respect to any Foreign Subsidiary, other Liens and privileges arising  mandatorily by any Requirement of Law.  “Permitted First Priority Replacement Debt” means any secured Indebtedness  (including any Registered Equivalent Notes) incurred by any Borrower and/or the other Loan  Parties in the form of one or more series of senior secured notes or senior secured loans (or  revolving commitments in respect thereof, with the revolving commitments deemed loans in the  full amount of such commitment); provided that (i) such Indebtedness may only be secured by  assets consisting of Collateral on a pari passu basis (but without regard to the control of remedies)  with the Initial Tranche A-1 Term Loans, the Initial Tranche A-2 Term Loans and/or Initial  Revolving Commitments to the extent secured by such Collateral, (ii) such Indebtedness satisfies  the requirements set forth in clauses (w) through (z) of the definition of “Credit Agreement  Refinancing Indebtedness,” (iii) either the security agreements relating to such Indebtedness are  substantially the same as the applicable Security Documents (with such differences as are  reasonably satisfactory to the U.S. Borrower and the Administrative Agents) or all security therefor  shall be granted pursuant to documentation that is not more restrictive than the Security Documents  in any material respect, in each case taken as a whole (as determined by the U.S. Borrower), (iv)  such secured notes do not require any scheduled payment of principal or mandatory redemption or  redemption at the option of the holders thereof (except for redemptions in respect of asset sales  (which may be offered to prepay such notes or loans in accordance with Section 2.11(c)), changes  in control or similar events (which may be offered to prepay such notes or loans in accordance  with Section 2.11(c)) and AHYDO Catch-Up Payments) prior to the Latest Maturity Date in effect  

 

  65    3141/80492-001 CURRENT/130883173v17  #95685245v21   as of the time such secured notes are incurred, and (v) the secured parties thereunder, or a trustee  or collateral agent or other Senior Representative on their behalf, shall have become a party to a  customary intercreditor agreement with the Collateral Agent substantially consistent with the terms  set forth on Exhibit K-1 annexed hereto together with (A) any immaterial changes and (B) material  changes thereto in light of prevailing market conditions, which material changes shall be posted to  the Lenders and, unless the Required Lenders shall have objected in writing to such changes within  five (5) Business Days after such posting, then the Required Lenders shall be deemed to have  agreed that the Collateral Agent’s entering into such intercreditor agreement (with such changes)  is reasonable and to have consented to such intercreditor agreement (with such changes) and to the  Collateral Agent’s execution thereof, in each case in form and substance reasonably satisfactory  to the Collateral Agent, which shall be entered into or shall be amended prior to or concurrently  with the first issuance of Permitted First Priority Replacement Debt in accordance with the terms  thereof to provide for the sharing of the Collateral on a pari passu basis among the holders of the  Secured Obligations, and the holders of such Permitted First Priority Replacement Debt.  “Permitted Refinancing” means modifications, replacements, restructurings,  refinancings, refundings, renewals, amendments, restatements or extensions of all or any portion  of Indebtedness (including any type of debt facility or debt security); provided that (a) the amount  of such Indebtedness is not increased (unless the additional amount is permitted pursuant to  another provision of Section 6.01) at the time of such refinancing, refunding, restructuring, renewal  or extension except by an amount equal to the existing unutilized commitments thereunder,  accrued but unpaid interest thereon and a reasonable premium paid, and fees and expenses  reasonably incurred, in connection with such refinancing, refunding, restructuring, renewal or  extension (including any fees and original issue discount incurred in respect of such resulting  Indebtedness), (b) the direct and contingent obligors of such Indebtedness shall not be expanded  as a result of or in connection with such refinancing, refunding, restructuring, renewal or extension  (other than to the extent (i) any such additional obligors are or will become a Loan Party, (ii) none  of such obligors on the Indebtedness being modified, replaced, refinanced refunded, restructured,  renewed or extended are Loan Parties or (iii) as otherwise permitted by Section 6.01), (c) to the  extent such Indebtedness being so refinanced, refunded, restructured, renewed or extended is  subordinated in right of payment and/or in right of Lien to any of the Obligations, such refinancing,  refunding, restructuring, renewal or extension is subordinated in right of payment and/or in right  of Lien (or, in the case of Lien subordination, not secured) to such Obligations on terms (taken as  a whole) at least as favorable to the Lenders as those contained in the documentation governing  the Indebtedness being so modified, refinanced, refunded, restructured, renewed or extended (as  determined in good faith by the U.S. Borrower) or otherwise reasonably acceptable to the  Administrative Agents, (d) other than with respect to Indebtedness under Section 6.01(d) or (e),  such refinancing, refunding, restructuring, renewal or extension has a final maturity date equal to  or later than the final maturity date of, the Indebtedness being refinanced, refunded, restructured,  renewed or extended and (e) other than with respect to Indebtedness under Section 6.01(d) or (e),  at the time of such refinancing, refunding, restructuring, renewal or extension of such  Indebtedness, no Event of Default shall have occurred and be continuing or result therefrom.  “Permitted Repricing Amendment” has the meaning assigned to such term in  Section 9.02.  

 

  66    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Permitted Sale Leaseback” means any Sale Leaseback with respect to the sale,  transfer or Disposition of real property or other property consummated by the U.S. Borrower or  any of its Restricted Subsidiaries after the Restatement Date; provided that any such Sale  Leaseback that is not between (i) a Loan Party and another Loan Party or (ii) a Restricted  Subsidiary that is not a Loan Party and another Restricted Subsidiary that is not a Loan Party must  be, in each case, consummated for fair value as determined at the time of consummation in good  faith by the U.S. Borrower or such Restricted Subsidiary (which such determination may take into  account any retained interest or other Investment of the U.S. Borrower or such Restricted  Subsidiary in connection with, and any other material economic terms of, such Sale Leaseback).  “Permitted Second Priority Replacement Debt” means secured Indebtedness  (including any Registered Equivalent Notes) incurred by any Borrower and/or the other Loan  Parties in the form of one or more series of second lien secured notes or second lien secured loans  (or revolving commitments in respect thereof, with the revolving commitments deemed to be loans  in the full amount of such commitments); provided that (i) such Indebtedness may only be secured  by assets consisting of Collateral on a second lien basis vis-à-vis the Initial Tranche A-1 Term  Loans, the Initial Tranche A-2 Term Loans and/or Initial Revolving Commitments to the extent  secured by such Collateral, (ii) such Indebtedness satisfies the requirements set forth in clauses  (w) through (z) of the definition of “Credit Agreement Refinancing Indebtedness”, (iii) either the  security agreements relating to such Indebtedness are substantially the same as the applicable  Security Documents (with such differences as are reasonably satisfactory to the U.S. Borrower and  the Administrative Agents) or all security therefor shall be granted pursuant to documentation that  is not more restrictive than the Security Documents in any material respect, in each case taken as  a whole (as determined by the U.S. Borrower), (iv) such Indebtedness does not require any  scheduled payment of principal or mandatory redemption or redemption at the option of the  holders thereof (except for redemptions in respect of asset sales, changes in control or similar  events and AHYDO Catch-Up Payments) prior to the Latest Maturity Date in effect as of the time  such secured notes are incurred, and (iv) a Senior Representative acting on behalf of the holders  of such Indebtedness shall have become party to a Second Lien Intercreditor Agreement; provided  that if such Indebtedness is the initial Permitted Second Priority Replacement Debt incurred by the  applicable Loan Party, then the applicable Borrower, the Subsidiary Loan Parties, the Collateral  Agent and the Senior Representative for such Indebtedness shall have executed and delivered the  Second Lien Intercreditor Agreement.  “Permitted Unsecured Replacement Debt” means unsecured Indebtedness  (including any Registered Equivalent Notes) incurred by any Borrower and/or the other Loan  Parties in the form of one or more series of unsecured notes or loans (or revolving commitments  in respect thereof, with the revolving commitments deemed to loans in the full amount of such  commitments); provided that (i) such Indebtedness satisfies the requirements set forth in clauses  (w) through (z) of the definition of “Credit Agreement Refinancing Indebtedness”, (ii) such  Indebtedness (including any guarantee thereof) is not secured by any Lien on any property or assets  of the U.S. Borrower or any Restricted Subsidiary, and (iii) such Indebtedness does not require  any scheduled payment of principal or mandatory redemption or redemption at the option of the  holders thereof (except for redemptions in respect of asset sales, changes in control or similar  events on the date of issuance and AHYDO Catch-Up Payments) prior to the Latest Maturity Date  in effect as of the time such secured notes are incurred.  

 

  67    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Person” means any natural person, corporation, company, 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,  and in respect of which any Loan Party (other than the U.K. Borrower) or any of its ERISA  Affiliates is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to  be) an “employer” as defined in Section 3(5) of ERISA.  “Platform” has the meaning assigned to such term in Section 5.01.  “Prepayment Event” means:  (a) any Disposition (including pursuant to a Sale Leaseback transaction and by way  of merger or consolidation) of any property or asset of the U.S. Borrower or any Restricted  Subsidiary permitted pursuant to clause (j) or (s) of Section 6.05 resulting in aggregate Net  Proceeds exceeding (A) $25,000,000 in the case of any single transaction or series of related  transactions and (B) $50,000,000 for all such transactions during any fiscal year of the U.S.  Borrower;  (b) any casualty or other insured damage to, or any taking under power of eminent  domain or by condemnation or similar proceeding of, any property or asset of the U.S. Borrower  or any Restricted Subsidiary with a fair market value immediately prior to such event exceeding  (A) $25,000,000 in the case of any single event or series of related events and (B) $50,000,000 for  all such events during any fiscal year of the U.S. Borrower; or  (c) the incurrence by the U.S. Borrower or any Restricted Subsidiary of any  Indebtedness, other than Indebtedness permitted under Section 6.01 or otherwise permitted by the  Required Lenders (other than Credit Agreement Refinancing Indebtedness).  “Prepayment Trigger” has the meaning assigned to such term in Section 2.11(c).  “Prime Rate” means the rate of interest last quoted by The Wall Street Journal as  the “Prime Rate” in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest  per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical  Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no  longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent)  or any similar release by the Federal Reserve Board (as determined by the Administrative Agent).  Each change in the Prime Rate shall be effective from and including the date such change is  publicly announced or quoted as being effective.  “Pro Forma Basis” means, with respect to the calculation of the First Lien Net  Leverage Ratio, the Total Secured Net Leverage Ratio, the Total Net Leverage Ratio, the  Consolidated Interest Coverage Ratio, the amount of Consolidated EBITDA or Consolidated Total  Assets or any other financial test or ratio hereunder, for purposes of determining the permissibility  of asset sales, prepayments required pursuant to Section 2.11(c) and Section 2.11(d), the  

 

  68    3141/80492-001 CURRENT/130883173v17  #95685245v21   Applicable Margin and the commitment fees payable pursuant to Section 2.12(b), the facility fees  payable pursuant to Section 2.12(b), and for any other specified purpose hereunder, and for  purposes of determining compliance with the covenants under Section 6.11, in each case as of any  date, that such calculation shall give pro forma effect to the Transactions and all Specified  Transactions (with any such incurrence of Indebtedness being deemed to be amortized over the  applicable testing period in accordance with its terms) (and the application of the proceeds from  any such asset sale or debt incurrence) that have occurred during the relevant testing period for  which such financial test or ratio is being calculated and, except as set forth in the proviso below,  during the period immediately following the Applicable Date of Determination therefor and prior  to or simultaneously with the event for which the calculation of any such ratio on such date of  determination is made, including pro forma adjustments arising out of events which are attributable  to the Transactions or the proposed Specified Transaction, including giving effect to those  specified in accordance with the definition of “Consolidated EBITDA,” in each case as certified  on behalf of the U.S. Borrower by a Financial Officer of the U.S. Borrower, using, for purposes of  determining such compliance with a financial test or ratio (including any incurrence test), the  historical financial statements of all entities, divisions or lines or assets so acquired or sold and the  consolidated financial statements of the U.S. Borrower and/or any of its Restricted Subsidiaries,  calculated as if the Transactions or such Specified Transaction, and all other Specified  Transactions that have been consummated during the relevant period, and any Indebtedness  incurred or repaid in connection therewith, had been consummated (and the change in  Consolidated EBITDA resulting therefrom) and incurred or repaid at the beginning of such period  and Consolidated Total Assets shall be calculated after giving effect thereto; provided that,  notwithstanding anything in this definition to the contrary, when calculating the Total Secured Net  Leverage Ratio for purposes of the definition of “Applicable Margin”, the definition of “Required  Asset Percentage” and determining actual compliance (and not pro forma compliance or  compliance on a Pro Forma Basis) with Section 6.11, the events described in this definition that  occurred after the Applicable Date of Determination shall not be given pro forma effect.  Whenever pro forma effect is to be given to the Transactions or a Specified  Transaction, the pro forma calculations shall be made in good faith by a Financial Officer of the  U.S. Borrower (including adjustments for costs and charges arising out of the proposed Specified  Transaction and the “run rate” cost savings and synergies resulting from such Specified  Transaction that have been or are reasonably anticipated to be realizable (“run rate” means the full  recurring benefit for a test period that is associated with any action taken or expected to be taken  or for which a plan for realization has been established (including any savings expected to result  from the elimination of a public target’s compliance costs with public company requirements), net  of the amount of actual benefits realized during such test period from such actions), and any such  adjustments included in the initial pro forma calculations shall continue to apply to subsequent  calculations of such financial ratios or tests, including during any subsequent test periods in which  the effects thereof are expected to be realizable); provided that (i) such amounts are projected by  the U.S. Borrower in good faith to result from actions either taken or expected to be taken or a  plan for realization shall have been established within 24 months after the end of the test period in  which the Specified Transaction occurred and, in each case, certified by a Financial Officer of the  U.S. Borrower and (ii) no amounts shall be added pursuant to this paragraph to the extent  duplicative of any amounts that are otherwise added back in computing Consolidated EBITDA for  such test period.  

 

  69    3141/80492-001 CURRENT/130883173v17  #95685245v21   If any Indebtedness bears a floating rate of interest and is being given pro forma  effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the date of  the event for which the calculation is made had been the applicable rate for the entire test period  (taking into account any interest hedging arrangements applicable to such Indebtedness).  Interest  on a Capital Lease Obligation shall be deemed to accrue at an interest rate reasonably determined  by a Financial Officer of the U.S. Borrower to be the rate of interest implicit in such Capital Lease  Obligation in accordance with GAAP.  Interest on Indebtedness that may optionally be determined  at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered  rate, or other rate, shall be determined to have been based upon the rate actually chosen, or if none,  then based upon such optional rate chosen as the U.S. Borrower or the applicable Restricted  Subsidiary may designate.  “Projections” has the meaning assigned to such term in Section 5.01(d).    “Proposed Change” has the meaning assigned to such term in Section 9.02(c).  “PTE” means a prohibited transaction class exemption issued by the U.S.  Department of Labor, as any such exemption may be amended from time to time.  “Public Lender” has the meaning assigned to such term in Section 5.01.   “QFC” has the meaning assigned to the term “qualified financial contract” in, and  shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).  “QFC Credit Support” has the meaning assigned to it in Section 9.20.  “Qualified Equity Interests” means any Equity Interests other than Disqualified  Equity Interests.  “Qualifying Bids” has the meaning assigned to such term in the definition “Dutch  Auction”.  “Qualifying Material Acquisition” means any Acquisition, if the aggregate amount  of consideration paid in respect of, and indebtedness incurred to finance, such Acquisition is in the  aggregate at least $250,000,000 and the U.S. Borrower has designated such Acquisition as a  “Qualifying Material Acquisition” by written notice (a “QMA Notice”) to the Revolving Facility  Administrative Agent and the Tranche A Term  Loan Administrative Agent; provided that the  Total Secured Net Leverage Ratio most recently determined prior to delivery of such QMA Notice  but recalculated on a Pro Forma Basis for such Acquisition must be less than or equal to 3.25:1.00.    “Qualified Securitization Financing” means any Securitization Facility of a  Securitization Subsidiary that meets the following conditions: (i) the U.S. Borrower shall have  determined in good faith that such Securitization Facility (including financing terms, covenants,  termination events and other provisions) is in the aggregate economically fair and reasonable to  the U.S. Borrower and its Restricted Subsidiaries; (ii) all sales of Securitization Assets and related  assets by the U.S. Borrower or any Restricted Subsidiary to a Securitization Subsidiary or any  other Person are made at fair market value (as determined in good faith by the U.S. Borrower);  

 

  70    3141/80492-001 CURRENT/130883173v17  #95685245v21   (iii) the financing terms, covenants, termination events and other provisions thereof shall be on  market terms (as determined in good faith by the U.S. Borrower) and may include Standard  Securitization Undertakings; and (iv) the obligations under such Securitization Facility are non- recourse (except for customary representations, warranties, covenants and indemnities made in  connection with such facilities) to the U.S. Borrower or any of its Restricted Subsidiaries (other  than a Securitization Subsidiary).  “QMA Notice” has the meaning assigned to such term in the definition “Qualifying  Material Acquisition”.  “Rand” means the lawful currency of South Africa.  “Receivables Assets” means (a) any accounts receivable owed to the U.S. Borrower  or a Restricted Subsidiary subject to a Receivables Facility and the proceeds thereof and (b) all  collateral securing such accounts receivable, all contracts and contract rights, guarantees or other  obligations in respect of such accounts receivable, all lock-box accounts and all records with  respect to such accounts receivable and any other assets customarily transferred together with  accounts receivable in connection with a non-recourse accounts receivable factoring arrangement  and which are sold, conveyed, assigned or otherwise transferred or pledged by the U.S. Borrower  or a Restricted Subsidiary to a commercial bank, any other financial institution or an Affiliate of  any of the foregoing in connection with a Receivables Facility.  “Receivables Facility” means an arrangement between the U.S. Borrower or a  Restricted Subsidiary and a commercial bank, any other financial institution or an Affiliate of any  of the foregoing pursuant to which (a) the U.S. Borrower or such Restricted Subsidiary, as  applicable, sells (directly or indirectly) to such commercial bank or financial institution (or such  Affiliate of any of the foregoing) accounts receivable owing by customers, together with  Receivables Assets related thereto, at a maximum discount, for each such account receivable, not  to exceed 10.0% of the face value thereof, (b) the obligations of the U.S. Borrower or such  Restricted Subsidiary, as applicable, thereunder are non-recourse (except for Securitization  Repurchase Obligations) to the U.S. Borrower and such Restricted Subsidiary and (c) the financing  terms, covenants, termination events and other provisions thereof shall be on market terms (as  determined in good faith by the U.S. Borrower) and may include Standard Securitization  Undertakings, and shall include any guaranty in respect of such arrangement.  “Recipient” means, as applicable, (a) the Revolving Facility Administrative Agent,  (b) the Tranche A Term Loan Administrative Agent, (c) any Lender, (d) any Issuing Bank or (e)  solely for U.S. federal withholding Tax purposes, any Beneficial Owner.  “Redemption Notice” has the meaning assigned to such term in Section 6.06.  “Reference Time” with respect to any setting of the then-current Benchmark means  (a) if such Benchmark is the Term SOFR Rate, 5:00 a.m. (Chicago time) on the day that is two (2)  Business Days preceding the date of such setting, (b) if such Benchmark is EURIBOR Rate, 11:00  a.m. Brussels time two (2) TARGET Days preceding the date of such setting, (c) if such  Benchmark is CDOR Rate, 10:00 a.m. Toronto time two (2) Business Days preceding the date of  such setting, (d) if the RFR for such Benchmark is SONIA, then four (4) RFR Business Days prior  

 

  71    3141/80492-001 CURRENT/130883173v17  #95685245v21   to such setting, (e) if the RFR for such Benchmark is Daily Simple SOFR, then four (4) RFR  Business Days prior to such setting or (f) if such Benchmark is none of the Term SOFR Rate, the  EURIBOR Rate, the CDOR Rate or SONIA, the time determined by the applicable Administrative  Agent in its reasonable discretion.  “Refinanced Term Loans” has the meaning assigned to such term in Section  9.02(d).  “Refinancing Amendment” means an amendment to this Agreement in form  reasonably satisfactory to the applicable Borrower and executed by each of (a) the applicable  Borrower (and to the extent it directly adversely affects the rights or increases the obligations of  any Administrative Agent, such Administrative Agent) and (b) each Additional Refinancing  Lender that agrees to provide any portion of the Credit Agreement Refinancing Indebtedness being  incurred pursuant thereto, in accordance with Section 2.21.    “Refinancing Notes” means Permitted First Priority Replacement Debt, Permitted  Second Priority Replacement Debt and Permitted Unsecured Replacement Debt.  “Register” has the meaning assigned to such term in Section 9.04.    “Registered Equivalent Notes” means, with respect to any notes originally issued  in a Rule 144A or other private placement transaction under the Securities Act, substantially  identical notes (having the same guarantees) issued in a dollar-for-dollar exchange therefor  pursuant to an exchange offer registered with the SEC.  “Related Parties” means, with respect to any specified Person, such Person’s  Affiliates and the respective partners, directors, officers, employees, trustees, agents and advisors  of such Person and such Person’s Affiliates.  “Release” means any release, spill, emission, leaking, dumping, injection, pouring,  deposit, disposal, discharge, dispersal, leaching or migration into or through the environment  (including ambient air, surface water, groundwater, land surface or subsurface strata).  “Relevant Covered Tax Agreement” means a Covered Tax Agreement (as such  term is defined under Article 2(1)(a) of the MLI) the parties to which are the MLI Lender  Jurisdiction and the United Kingdom.  “Relevant Governmental Body” means (i) with respect to a Benchmark  Replacement in respect of Loans denominated in Dollars, the Federal Reserve Board and/or the  NYFRB, the CME Term SOFR Administrator, as applicable, or a committee officially endorsed  or convened by the Federal Reserve Board and/or the NYFRB or, in each case, any successor  thereto, (ii) with respect to a Benchmark Replacement in respect of Loans denominated in Sterling,  the Bank of England, or a committee officially endorsed or convened by the Bank of England or,  in each case, any successor thereto, (iii) with respect to a Benchmark Replacement in respect of  Loans denominated in Euros, the European Central Bank, or a committee officially endorsed or  convened by the European Central Bank or, in each case, any successor thereto and (iv) with  respect to a Benchmark Replacement in respect of Loans denominated in any other currency, (a)  

 

  72    3141/80492-001 CURRENT/130883173v17  #95685245v21   the central bank for the currency in which such Benchmark Replacement is denominated or any  central bank or other supervisor which is responsible for supervising either (1) such Benchmark  Replacement or (2) the administrator of such Benchmark Replacement or (b) any working group  or committee officially endorsed or convened by (1) the central bank for the currency in which  such Benchmark Replacement is denominated, (2) any central bank or other supervisor that is  responsible for supervising either (A) such Benchmark Replacement or (B) the administrator of  such Benchmark Replacement, (3) a group of those central banks or other supervisors or (4) the  Financial Stability Board or any part thereof.  “Relevant Rate” means (i) with respect to any Term Benchmark Borrowing  denominated in Dollars, the Adjusted Term SOFR Rate, (ii) with respect to any Term Benchmark  Borrowing denominated in Euros, the Adjusted EURIBOR Rate, (iii) with respect to any Term  Benchmark Borrowing denominated in Canadian Dollars, the Adjusted CDOR Rate, as applicable  or (iv) with respect to any Borrowing denominated in Sterling or Dollars, the applicable Adjusted  Daily Simple RFR, as applicable.  “Relevant Screen Rate” means (i) with respect to any Term Benchmark Borrowing  denominated in Dollars, the Term SOFR Reference Rate, (ii) with respect to any Term Benchmark  Borrowing denominated in Euros, the EURIBOR Screen Rate or (iii) with respect to any Term  Benchmark Borrowing denominated in Canadian Dollars, the CDOR Screen Rate, as applicable.  “Replacement Term Loans” has the meaning assigned to such term in Section  9.02(d).  “Reply Amount” has the meaning assigned to such term in the definition “Dutch  Auction”.  “Reply Discount” has the meaning assigned to such term in the definition “Dutch  Auction”.  “Required Lenders” means, at any time, Lenders (other than Defaulting Lenders)  having Revolving Exposures, Term Loans and unused Commitments representing more than 50%  of the aggregate Revolving Exposures, outstanding Term Loans and unused Commitments at such  time (calculated, in each case, using the Exchange Rate in effect on the applicable date of  determination).  No Defaulting Lender shall be included in the calculation of Required Lenders.  “Required Asset Percentage” means, with respect to any Prepayment Event  pursuant to Section 2.11(c), (a) 100%, if the Total Secured Net Leverage Ratio calculated on a Pro  Forma Basis is greater than or equal to 4.00 to 1.00, (b) 50%, if the Total Secured Net Leverage  Ratio calculated on a Pro Forma Basis is less than 4.00 to 1.00 but greater than or equal to 3.00 to  1.00 and (c) 0%, if the Total Secured Net Leverage Ratio calculated on a Pro Forma Basis is less  than 3.00 to 1.00.  “Required Revolving Lenders” means, at any time, Revolving Lenders (other than  Defaulting Lenders) having Revolving Exposures and unused Revolving Commitments  representing more than 50% of the aggregate Revolving Exposures and unused Revolving  Commitments at such time (calculated, in each case, using the Exchange Rate in effect on the  

 

  73    3141/80492-001 CURRENT/130883173v17  #95685245v21   applicable date of determination).  No Defaulting Lender shall be included in the calculation of  Required Revolving Lenders.  “Required Tranche A Term Lenders” means, at any time, Tranche A Term Lenders  (other than Defaulting Lenders) having Tranche A Term Loans and unused Tranche A Term  Commitments representing more than 50% of the aggregate outstanding Tranche A Term Loans  and unused Tranche A Term Commitments at such time (calculated, in each case, using the  Exchange Rate in effect on the applicable date of determination).  No Defaulting Lender shall be  included in the calculation of Required Tranche A Term Lenders.   “Requirement of Law” means, with respect to any Person, any statute, law, treaty,  rule, regulation, order, executive order, ordinance, decree, writ, injunction or determination of any  arbitrator or court or other Governmental Authority, in each case applicable to or binding upon  such Person or any of its property or to which such Person or any of its property is subject.  “Resolution Authority” means an EEA Resolution Authority or, with respect to any  U.K. Financial Institution, a U.K. Resolution Authority.  “Responsible Officer” of any Person means the chief executive officer, president  or any Financial Officer of such Person, and any other officer (or, in the case of any such Person  that is a Foreign Subsidiary, director or managing partner or similar official) of such Person with  responsibility for the administration of the obligations of such Person under this Agreement.  “Restatement Date” means July 26, 2017.  “Restricted Payment” means any dividend or other distribution (whether in cash,  securities or other property) with respect to any Equity Interests in the U.S. Borrower or any  Restricted Subsidiary, or any payment (whether in cash, securities or other property), including  any sinking fund or similar deposit, on account of the purchase, redemption, retirement,  acquisition, cancelation or termination of any Equity Interests in the U.S. Borrower or any  Restricted Subsidiary, or any option, warrant or other right to acquire any such Equity Interests in  the U.S. Borrower or any Restricted Subsidiary, other than the payment of compensation in the  ordinary course of business to holders of any such Equity Interests who are employees of the U.S.  Borrower or any Restricted Subsidiary and other than payments of intercompany indebtedness  permitted under this Agreement.  “Restricted Subsidiary” means any Subsidiary other than an Unrestricted  Subsidiary.  “Retained Declined Proceeds” has the meaning set forth in Section 2.11(g).  “Return” means, with respect to any Investment, any dividend, distribution,  repayment of principal, income, profit (from a disposition or otherwise) and any other amount  received or realized in respect thereof in each case that represents a return of capital.  “Return Bid” has the meaning assigned to such term in the definition “Dutch  Auction”.  

 

  74    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Revolving Availability Period” means the period from and including the  Restatement Date to but excluding the earlier of the Revolving Maturity Date and the date of  termination of the Revolving Commitments.  “Revolving Commitment” means, with respect to each Revolving Lender, the  commitment, if any, of such Lender to make Revolving Loans and to acquire participations in  Letters of Credit hereunder, expressed as an amount representing the maximum aggregate principal  amount of such Lender’s Revolving Exposure hereunder, as such commitment may be (a) reduced  from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to  assignments by or to such Lender pursuant to Section 9.04 and (c) increased from time to time  pursuant to Section 2.20. The initial amount of each Lender’s Revolving Commitment is set forth  on Schedule 2.01(b) or in the Assignment and Assumption pursuant to which such Lender shall  have assumed its Revolving Commitment, as the case may be.  References to the “Revolving  Commitments” shall mean the Revolving Commitment of each Lender taken together.  The initial  aggregate principal amount of the Lenders’ Revolving Commitments on the Amendment No. 3  Effective Date is the Dollar Equivalent of $1,500,000,000.  “Revolving Credit Facility” means the “Revolving Commitments” and the  extensions of credit made thereunder.  “Revolving Exposure” means, as to each Revolving Lender, the sum of (a) its U.S.  Revolving Exposure and (b) its U.K. Revolving Exposure.    “Revolving Facility Administrative Agent” means JPMorgan Chase Bank, N.A., in  its capacity as administrative agent for the Revolving Lenders hereunder, and its successors in  such capacity as provided in Article VIII.  “Revolving Lender” means a Lender with a Revolving Commitment or, if the  Revolving Commitments have terminated or expired, a Lender with Revolving Exposure.  “Revolving Loans” means collectively, the U.S. Revolving Loans and the U.K.  Revolving Loans.  “Revolving Maturity Date” means May 25, 2027 (or if such date is not a Business  Day, the next preceding Business Day), but, as to any specific Revolving Commitment, as the  maturity of such Revolving Commitment shall have been extended by the holder thereof in  accordance with the terms hereof.  “Revolving Note” means a promissory note of the applicable Borrower evidencing  Revolving Loans made or held by a Revolving Lender, substantially in the form of Exhibit F-2.  “RFR” means, for any RFR Loan denominated in (a) Sterling, SONIA and (b)  Dollars, Daily Simple SOFR.  “RFR Administrator” means the SONIA Administrator or the SOFR Administrator.  “RFR Borrowing” means, as to any Borrowing, the RFR Loans comprising such  Borrowing.  

 

  75    3141/80492-001 CURRENT/130883173v17  #95685245v21   “RFR Business Day” means, for any Loan denominated in (a) Sterling, any day  except for (i) a Saturday, (ii) a Sunday or (iii) a day on which banks are closed for general business  in London and (b) Dollars, a U.S. Government Securities Business Day.  “RFR Interest Day” has the meaning specified in the definition of “Daily Simple  RFR”.  “RFR Loan” means a Loan that bears interest at a rate based on the Adjusted Daily  Simple RFR.   “Sale Leaseback” means any transaction or series of related transactions pursuant  to which the U.S. Borrower or any of the Restricted Subsidiaries (a) sells, transfers or otherwise  disposes of any property, real or personal, whether now owned or hereafter acquired, and (b) as  part of such transaction, thereafter rents or leases such property that it intends to use for  substantially the same purpose or purposes as the property being sold, transferred or disposed.  “Sanctions” has the meaning set forth in Section 3.19.  “S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P  Global Inc. or any successor thereto.  “SEC” means the Securities and Exchange Commission or any Governmental  Authority succeeding to any of its principal functions.  “Second Lien Intercreditor Agreement” means a “junior lien” intercreditor  agreement among the Collateral Agent, the U.S. Borrower and one or more Senior Representatives  for holders of Permitted Second Priority Replacement Debt substantially consistent with the terms  set forth on Exhibit K-2 annexed hereto together with (A) any immaterial changes and (B) material  changes thereto in light of prevailing market conditions, which material changes shall be posted to  the Lenders and, unless the Required Lenders shall have objected in writing to such changes within  five (5) Business Days after such posting, then the Required Lenders shall be deemed to have  agreed that the Collateral Agent’s entering into such intercreditor agreement (with such changes)  is reasonable and to have consented to such intercreditor agreement (with such changes) and to the  Collateral Agent’s execution thereof, in each case in form and substance reasonably satisfactory  to the Collateral Agent (it being understood that junior Liens are not required to be pari passu with  other junior Liens, and that Indebtedness secured by junior Liens may be secured by Liens that are  pari passu with, or junior in priority to, other Liens that are junior to the Liens securing the  Obligations).  “Secured Cash Management Agreement” means any Cash Management Agreement  that (a) is in effect on the Amendment No. 3 Effective Date between the U.S. Borrower and/or any  Subsidiary and a counterparty that is any Agent or a Lender or an Affiliate of any Agent or a  Lender as of the Amendment No. 3 Effective Date or (b) is entered into after the Amendment No.  3 Effective Date by the U.S. Borrower and/or any Subsidiary with any counterparty that is any  Agent or a Lender or an Affiliate of any Agent or a Lender at the time such arrangement is entered  into, and in the case of each of clauses (a) and (b) hereof, the U.S. Borrower designates in writing  

 

  76    3141/80492-001 CURRENT/130883173v17  #95685245v21   to each Administrative Agent that such Cash Management Agreement shall be a Secured Cash  Management Agreement.  “Secured Cash Management Obligations” means all Cash Management Obligations  under any Secured Cash Management Agreement.  “Secured Obligations” means, collectively, the (a) Obligations, (b) the Secured  Swap Obligations and (c) the Secured Cash Management Obligations.  “Secured Parties” means, collectively, the Administrative Agents, the Collateral  Agent, the Lenders and the Lender Counterparties.  “Secured Swap Agreements” means any Swap Agreement that (a) is in effect on  the Amendment No. 3 Effective Date between the U.S. Borrower and/or any Restricted Subsidiary  and a counterparty that is an Agent or a Lender or an Affiliate of an Agent or a Lender as of the  Amendment No. 3 Effective Date or (b) is entered into after the Amendment No. 3 Effective Date  by the U.S. Borrower and/or any Restricted Subsidiary with any counterparty that is an Agent or  a Lender or an Affiliate of an Agent or a Lender at the time such Swap Agreement is entered into,  and in the case of each of clauses (a) and (b) hereof, the U.S. Borrower designates in writing to  each Administrative Agent that such Swap Agreement shall be a Secured Swap Agreement (for  the avoidance of doubt, the U.S. Borrower may provide one notice to each Administrative Agent  designating all Swap Agreements entered into under a specified Master Agreement as Secured  Swap Agreements).  “Secured Swap Obligations” means all Swap Obligations (other than Excluded  Swap Obligations) under any Secured Swap Agreement.  “Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules  and regulations of the SEC promulgated thereunder, as amended.  “Securitization Asset” means (a) any accounts receivable or related assets and the  proceeds thereof, in each case subject to a Securitization Facility and (b) all collateral securing  such receivable or asset, all contracts and contract rights, guarantees or other obligations in respect  of such receivable or asset, lockbox accounts and records with respect to such receivables or asset  and any other assets customarily transferred (or in respect of which security interests are  customarily granted), together with receivables or assets in a securitization financing and which in  the case of clause (a) and (b) above are sold, conveyed, assigned or otherwise transferred or  pledged by the U.S. Borrower or any Restricted Subsidiary in connection with a Qualified  Securitization Financing.  “Securitization Facility” means any transaction or series of securitization  financings that may be entered into by the U.S. Borrower or any of its Restricted Subsidiaries  pursuant to which the U.S. Borrower or any of its Restricted Subsidiaries may sell, convey or  otherwise transfer, or may grant a security interest in, Securitization Assets to either (a) a Person  that is not a Restricted Subsidiary or (b) a Securitization Subsidiary that in turn sells such  Securitization Assets to a Person that is not a Restricted Subsidiary, or may grant a security interest  in, any Securitization Assets of the U.S. Borrower or any of its Subsidiaries.  

 

  77    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Securitization Fees” means distributions or payments made directly or by means  of discounts with respect to any Securitization Asset or participation interest therein issued or sold  in connection with, and other fees and expenses (including reasonable fees and expenses of legal  counsel) paid to a Person that is not a Restricted Subsidiary in connection with, any Qualified  Securitization Financing or a Receivables Facility.  “Securitization Repurchase Obligation” means any obligation of a seller (or any  guaranty of such obligation) of Securitization Assets or Receivables Assets in a Qualified  Securitization Financing or a Receivables Facility to repurchase Securitization Assets arising as a  result of a breach of a representation, warranty or covenant or otherwise, including, without  limitation, as a result of a receivable or portion thereof becoming subject to any asserted defense,  dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take  action by or any other event relating to the seller.  “Securitization Subsidiary” means any Subsidiary of the U.S. Borrower in each  case formed for the purpose of and that solely engages in one or more Qualified Securitization  Financings and other activities reasonably related thereto or another Person formed for the purpose  of engaging in a Qualified Securitization Financing in which the U.S. Borrower or any Subsidiary  of the U.S. Borrower makes an Investment and to which the U.S. Borrower or any Subsidiary of  the U.S. Borrower transfers Securitization Assets and related assets.  “Security Documents” means the Collateral Agreement, each of the agreements  listed on Schedule 5.11(c) executed and delivered by the Loan Parties party thereto and the  Collateral Agent, and each other security agreement or other instrument or document executed and  delivered pursuant to Section 5.10 or Section 5.11 to secure the Secured Obligations.  “Senior Indebtedness” has the meaning set forth in Section 3.19.  “Senior Notes” means the U.S. Borrower’s $1,050,000,000 7.25% Senior Notes  due 2022 issued pursuant to the Senior Notes Indenture on October 15, 2014.  “Senior Notes Indenture” means the indenture, dated as of October 15, 2014 by and  between the U.S. Borrower and U.S. Bank, National Association, as trustee.  “Senior Representative” means, with respect to any series of Permitted First  Priority Replacement Debt or Permitted Second Priority Replacement Debt, the trustee,  administrative agent, collateral agent, security agent or similar agent under the indenture or  agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the  case may be, and each of their successors in such capacities.  “Singapore Dollars” means the lawful currency of Singapore.  “SLL Principles” means the Sustainability Linked Loan Principles, as published in  March 2022 by the Loan Market Association and the Loan Syndications & Trading Association  (and as may be updated, revised or amended from time to time).  

 

  78    3141/80492-001 CURRENT/130883173v17  #95685245v21   “SOFR” means a rate equal to the secured overnight financing rate as administered  by the SOFR Administrator.   “SOFR Administrator” means the NYFRB (or a successor administrator of the  secured overnight financing rate).  “SOFR Administrator’s Website” means the NYFRB’s website, currently at  http://www.newyorkfed.org, or any successor source for the secured overnight financing rate  identified as such by the SOFR Administrator from time to time.  “SOFR Determination Date” has the meaning specified in the definition of “Daily  Simple SOFR”.  “SOFR Rate Day” has the meaning specified in the definition of “Daily Simple  SOFR”.  “Software” means any and all computer programs, including any and all software  implementations of algorithms, models and methodologies, whether in source code or object code;  databases and compilations, including any and all data and collections of data, whether machine  readable or otherwise; descriptions, flow-charts and other work product used to design, plan,  organize and develop any of the foregoing, screens, user interfaces, report formats, firmware,  development tools, templates, menus, buttons and icons; and all documentation including user  manuals and other training documentation related to any of the foregoing.  “Solvent” means, with respect to the U.S. Borrower and its Restricted Subsidiaries,  on a consolidated basis, that as of the date of determination: (a) the fair value of the assets (on a  going concern basis) of the U.S. Borrower and its Restricted Subsidiaries, on a consolidated basis,  exceeds, on a consolidated basis, their debts and liabilities, subordinated, contingent or otherwise;  (b) the present fair saleable value of the property (on a going concern basis) of the U.S. Borrower  and its Restricted Subsidiaries, on a consolidated basis, is greater than the amount that will be  required to pay the probable liability, on a consolidated basis, of their debts and other liabilities,  subordinated, contingent or otherwise, as such debts and other liabilities become absolute and  matured in the ordinary course of business; (c) the U.S. Borrower and its Restricted Subsidiaries,  on a consolidated basis, are able to pay their debts and liabilities, subordinated, contingent or  otherwise, as such liabilities become absolute and matured in the ordinary course of business; and  (d) the U.S. Borrower and its Restricted Subsidiaries, on a consolidated basis, are not engaged in,  and are not about to engage in, business contemplated as of the date hereof for which they have  unreasonably small capital. For purposes of this definition, the amount of any contingent liability  at any time shall be computed as the amount that would reasonably be expected to become an  actual and matured liability.  “Solvency Certificate” means the solvency certificate executed and delivered by a  Financial Officer of the U.S. Borrower on the Restatement Date, substantially in the form of  Exhibit C.  

 

  79    3141/80492-001 CURRENT/130883173v17  #95685245v21   “SONIA” means, with respect to any Business Day, a rate per annum equal to the  Sterling Overnight Index Average for such Business Day published by the SONIA Administrator  on the SONIA Administrator’s Website on the immediately succeeding Business Day.   “SONIA Administrator” means the Bank of England (or any successor  administrator of the Sterling Overnight Index Average).  “SONIA Administrator’s Website” means the Bank of England’s website, currently  at http://www.bankofengland.co.uk (or any successor source for the Sterling Overnight Index  Average identified as such by the SONIA Administrator from time to time).  “Specified Transaction” means any (a) disposition of all or substantially all the  assets of or all the Equity Interests of any Restricted Subsidiary of the U.S. Borrower or of any  product line, business unit, line of business or division of the U.S. Borrower or any of the  Restricted Subsidiaries of the U.S. Borrower for which historical financial statements are available,  (b) Permitted Acquisition, (c) Investment that results in a Person becoming a Restricted Subsidiary  of the U.S. Borrower (which, for purposes hereof, shall be deemed to also include (1) the merger,  consolidation, liquidation or similar amalgamation of any Person into the U.S. Borrower or any  Restricted Subsidiary, so long as the U.S. Borrower or such Restricted Subsidiary is the surviving  Person, and (2) the transfer of all or substantially all of the assets of a Person to the U.S. Borrower  or any Restricted Subsidiary), (d) designation of any Restricted Subsidiary as an Unrestricted  Subsidiary, or of any Unrestricted Subsidiary as a Restricted Subsidiary or (e) the proposed  incurrence of Indebtedness or making of a Restricted Payment or payment in respect of  Indebtedness in respect of which compliance with any financial ratio is by the terms of this  Agreement required to be calculated on a Pro Forma Basis.  “SPV” has the meaning assigned to such term in Section 9.04.    “Standard Securitization Undertakings” means representations, warranties,  covenants and indemnities entered into by the U.S. Borrower or any Subsidiary of the U.S.  Borrower which the U.S. Borrower has determined in good faith to be customary in a Receivables  Facility or a Securitization Facility, including, without limitation, those relating to the servicing of  the assets of a Securitization Subsidiary, it being understood that any Securitization Repurchase  Obligation shall be deemed to be a Standard Securitization Undertaking or, in the case of a  Receivables Facility, a non-credit related recourse accounts receivables factoring arrangement.  “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 percentage (including any marginal, special, emergency or supplemental  reserves) expressed as a decimal established by the Federal Reserve Board to which the applicable  Administrative Agent is subject with respect to the Adjusted EURIBOR Rate or Adjusted CDOR  Rate, as applicable, for eurocurrency funding (currently referred to as “Eurocurrency liabilities”  in Regulation D) or any other reserve ratio or analogous requirement of any central banking or  financial regulatory authority imposed in respect of the maintenance of the Commitments or the  funding of the Loans.  Such reserve percentage shall include those imposed pursuant to Regulation  D.  Term Benchmark Loans shall be deemed to constitute eurocurrency funding and to be subject  to such reserve requirements without benefit of or credit for proration, exemptions or offsets that  

 

  80    3141/80492-001 CURRENT/130883173v17  #95685245v21   may be available from time to time to any Lender under Regulation D or any comparable  regulation.  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.  “Subject Loans” has the meaning assigned to such term in Section 2.11(i).  “Subordinated Indebtedness” means Indebtedness incurred by a Loan Party that is  contractually subordinated in right of payment to the prior payment of all Obligations of such Loan  Party under the Loan Documents.  “subsidiary” means, with respect to any Person (the “parent”) at any date, any  corporation, company, limited liability company, partnership, association or other entity of which  securities or other ownership interests representing more than 50% of the ordinary voting power  for the election of the members of the governing body or, in the case of a partnership, more than  50% of the general partnership interests are, as of such date, owned or controlled by the parent  and/or one or more subsidiaries of the parent.  “Subsidiary” means any subsidiary of the U.S. Borrower.  “Subsidiary Guaranty” means the Subsidiary Guaranty executed and delivered by  the Subsidiary Loan Parties on the Closing Date substantially in the form of Exhibit E, together  with each supplement to the Subsidiary Guaranty in respect of the Secured Obligations delivered  pursuant to Section 5.10, as such may be amended, restated, amended and restated, supplemented  or otherwise modified from time to time.  “Subsidiary Loan Party” means any Domestic Restricted Subsidiary that has  Guaranteed the Obligations pursuant to the Subsidiary Guaranty; provided that no Domestic  Restricted Subsidiary that is an Excluded Subsidiary shall be required to guarantee the Obligations.  “Successor Collateral Agent Agreement and Guaranty Reaffirmation” means the  Successor Collateral Agent Agreement and Guaranty Reaffirmation dated as of the Restatement  Date, by and among JPMorgan Chase Bank, N.A, Morgan Stanley Senior Funding, Inc., Zebra  Technologies Corporation and the Subsidiary Loan Parties party thereto.  “Supported QFC” has the meaning assigned to it in Section 9.20.  “Sustainability Assurance Provider” means an entity that the U.S. Borrower may,  from time to time and with the consent of the Required Revolving Lenders or the Required Tranche  A Term Lenders, as applicable (in either case, such consent not to be unreasonably withheld,  conditioned or delayed), designate as sustainability assurance provider that (a) is a qualified  external reviewer, independent of the U.S. Borrower and its Subsidiaries, with relevant expertise,  such as an auditor, environmental consultant and/or independent ratings agency of recognized  national standing or another firm designated by the U.S. Borrower and approved by the Required  Revolving Lenders or the Required Tranche A Term Lenders, as applicable (in either case, such  consent not to be unreasonably withheld, conditioned or delayed), and (b) shall apply auditing  

 

  81    3141/80492-001 CURRENT/130883173v17  #95685245v21   standards and methodology that (i) are consistent with then generally accepted industry standards  or (ii) if not so consistent, are proposed by the U.S. Borrower and approved by the Required  Revolving Lenders or the Required Tranche A Term Lenders, as applicable.  “Sustainability Targets” means specified key performance indicators with respect  to certain environmental, social and governance targets of the U.S. Borrower and its Subsidiaries.  “Swap Agreement” means (a) any and all rate swap transactions, basis swaps, credit  derivative transactions, forward rate transactions, commodity swaps, commodity options, forward  contracts, future contracts, equity or equity index swaps or options, bond or bond price or bond  index swaps or options or forward bond or forward bond price or forward bond index transactions,  interest rate options, forward foreign exchange transactions, cap transactions, floor transactions,  collar transactions, currency swap transactions, cross-currency rate swap transactions, currency  options, spot contracts, repurchase agreements, reverse repurchase agreements, sell buy back and  buy sell back agreements, and securities lending and borrowing agreements or any other similar  transactions or any combination of any of the foregoing (including any options to enter into any  of the foregoing), whether or not any such transaction is governed by or subject to any master  agreement and (b) any and all transactions of any kind, and the related confirmations, which are  subject to the terms and conditions of, or governed by, any form of master agreement published  by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange  Master Agreement, or any other master agreement (any such master agreement, together with any  related schedules, a “Master Agreement”), including any such obligations or liabilities under any  Master Agreement.  “Swap Obligation” means, with respect to any Person, any obligation to pay or  perform under any agreement, contract or transaction that constitutes a “swap” within the meaning  of Section 1a(47) of the Commodity Exchange Act.  “Swap Termination Value” means, in respect of any one or more Secured Swap  Agreements, after taking into account the effect of any legally enforceable netting agreement  relating to such Secured Swap Agreements, (a) for any date on or after the date such Secured Swap  Agreements have been closed out and termination value(s) determined in accordance therewith,  such termination value(s), and (b) for any date prior to the date referenced in clause (a), the  amount(s) determined as the mark to market value(s) for such Secured Swap Agreements, as  determined by the Lender Counterparty and the U.S. Borrower in accordance with the terms  thereof and in accordance with customary methods for calculating mark-to-market values under  similar arrangements by the Lender Counterparty and the U.S. Borrower.  “Swedish Krona” means the lawful currency of Sweden.  “Swingline Exposure” means, at any time, the aggregate principal amount of all  Swingline Loans outstanding at such time.  The Swingline Exposure of any Lender at any time  shall be its Applicable Percentage of the total Swingline Exposure at such time.  “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as lender  of Swingline Loans hereunder.  

 

  82    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Swingline Loan” means a Loan made pursuant to Section 2.04(a).  “Syndication Agents” means JPMorgan Chase Bank, N.A., Wells Fargo Securities,  LLC, BofA Securities, Inc., MUFG Bank, Ltd., PNC Capital Markets LLC, and Citizens Bank,  N.A. and Capital One, N.A., each in its capacity as a syndication agent in respect of the credit  facilities provided herein.  “Synthetic Lease” means, as to any Person, any lease (including leases that may be  terminated by the lessee at any time) of any property (whether real, personal or mixed) that is  designed to permit the lessee (a) to treat such lease as an operating lease, or not to reflect the leased  property on the lessee’s balance sheet, under GAAP and (b) to claim depreciation on such property  for U.S. federal income tax purposes, other than any such lease under which such Person is the  lessor.  “Synthetic Lease Obligations” of any Person means the obligations of such Person  to pay rent or other amounts under any Synthetic Lease, and the amount of such obligations shall  be equal to the sum (without duplication) of (a) the capitalized amount thereof that would appear  on a balance sheet of such Person in accordance with GAAP if such obligations were accounted  for as Capital Lease Obligations and (b) the amount payable by such Person as the purchase price  for the property subject to such lease assuming the lessee exercises the option to purchase such  property at the end of the term of such lease.  “TARGET2” means the Trans-European Automated Real-time Gross Settlement  Express Transfer payment system which utilizes a single shared platform and which was launched  on November 19, 2007.  “TARGET Day” means any day on which TARGET2 (or, if such payment system  ceases to be operative, such other payment system, if any, reasonably determined by the applicable  Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro.  “Target Person” has the meaning assigned to such term in Section 6.04.  “Taxes” means any and all present or future taxes, levies, imposts, duties,  deductions, assessments, fees, other charges or withholdings imposed by any Governmental  Authority, including any interest, additions to tax or penalties applicable thereto.  “Term Benchmark” 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 the Adjusted Term SOFR Rate, the Adjusted EURIBOR Rate or the  Adjusted CDOR Rate.  “Term Commitment” means a Tranche A-1 Term Commitment or a Tranche A-2  Term Commitment.  “Termination Date” means the date upon which (i) all of the Obligations (other than  (A) as set forth in clause (ii) and (B) contingent indemnification obligations not yet due and  payable) have been paid in full, (ii) all Letters of Credit have been cancelled, Cash Collateralized  

 

  83    3141/80492-001 CURRENT/130883173v17  #95685245v21   or otherwise backstopped on terms reasonably satisfactory to the Issuing Bank (including by  “grandfathering” on terms reasonably acceptable to the Issuing Bank of the applicable Letters of  Credit into a future credit facility) and (iii) all Commitments have expired or been terminated.  “Term Lender” means a Tranche A-1 Term Lender or a Tranche A-2 Term Lender.  “Term Loan Exchange Effective Date” has the meaning set forth in Section 2.25(a).  “Term Loan Exchange Notes” has the meaning assigned to such term in Section  2.25(a).  “Term Loan Maturity Date” means, with respect to (a) the Tranche A Term Loans,  the Tranche A Term Loan Maturity Date and (b) any Incremental Term Loan, Other Term Loan  or Extended Term Loan, as provided in the respective documentation therefor, but, as to any  specific Term Loan, as the maturity of such Term Loan shall have been extended by the holder  thereof in accordance with the terms hereof.   “Term Loans” means, collectively, the Tranche A-1 Term Loans, the Tranche A-2  Term Loans and, unless the context otherwise requires, any Incremental Term Loan, Other Term  Loan or Extended Term Loan, in each case, made to the applicable Borrower.  “Term Note” means a promissory note of the applicable Borrower payable to any  Lender or its registered assigns, in substantially the form of Exhibit F-1 hereto, evidencing the  aggregate Indebtedness of the applicable Borrower to such Lender resulting from the Term Loans  made by such Lender.  “Term SOFR Determination Day” has the meaning assigned to it under the  definition of Term SOFR Reference Rate.  “Term SOFR Rate” means, with respect to any Term Benchmark Borrowing  denominated in Dollars and for any tenor comparable to the applicable Interest Period, the Term  SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two (2) U.S. Government  Securities Business Days prior to the commencement of such tenor comparable to the applicable  Interest Period, as such rate is published by the CME Term SOFR Administrator.  “Term SOFR Reference Rate” means, for any day and time (such day, the “Term  SOFR Determination Day”), with respect to any Term Benchmark Borrowing denominated in  Dollars and for any tenor comparable to the applicable Interest Period, the rate per annum  reasonably determined by the applicable Administrative Agent as the forward-looking term rate  based on SOFR.  If by 5:00 pm (New York City time) on such Term SOFR Determination Day,  the “Term SOFR Reference Rate” for the applicable tenor has not been published by the CME  Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR  Rate has not occurred, then the Term SOFR Reference Rate for such Term SOFR Determination  Day will be the Term SOFR Reference Rate as published in respect of the first preceding U.S.  Government Securities Business Day for which such Term SOFR Reference Rate was published  by the CME Term SOFR Administrator, so long as such first preceding Business Day is not more  than five (5) Business Days prior to such Term SOFR Determination Day.  

 

  84    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Total Indebtedness” means, as of any date, the aggregate outstanding principal  amount of funded Indebtedness of the U.S. Borrower and its Restricted Subsidiaries, on a  consolidated basis, for borrowed money, Capital Lease Obligations and purchase money  Indebtedness (other than any intercompany indebtedness).  Total Indebtedness shall exclude  Indebtedness in an aggregate amount of up to $300,000,000 in respect of any Receivables Facility  or Qualified Securitization Financing or Cash Management Services.  “Total Net Leverage Ratio” means, on any date of determination, the ratio of  (a) Total Indebtedness, less the aggregate amount of unrestricted cash and Cash Equivalents of the  U.S. Borrower and its Restricted Subsidiaries as of such date (but including any amounts held by  or for the benefit of the U.S. Borrower or Domestic Restricted Subsidiaries for the purpose of  repurchasing, redeeming or otherwise acquiring the Senior Notes) to (b) Consolidated EBITDA  for the period of four consecutive fiscal quarters of the U.S. Borrower most recently ended on or  prior such date of determination for which financial statements have been furnished pursuant to  Section 5.01.  “Total Secured Net Leverage Ratio” means, on any date of determination, the ratio  of (a) Total Indebtedness as of such date that is secured by Liens on any Collateral, less the  aggregate amount of unrestricted cash and Cash Equivalents of the U.S. Borrower and its  Restricted Subsidiaries as of such date (but including any amounts held by or for the benefit of the  U.S. Borrower or Domestic Restricted Subsidiaries for the purpose of repurchasing, redeeming or  otherwise acquiring the Senior Notes) to (b) Consolidated EBITDA for the period of four  consecutive fiscal quarters of the U.S. Borrower most recently ended on or prior such date of  determination for which financial statements have been furnished pursuant to Section 5.01.  “Tranche A Term Commitments” means, collectively, the Tranche A-1 Term  Commitments and the Tranche A-2 Term Commitments.  “Tranche A Term Facilities” means, collectively, (a) the Tranche A-1 Term  Commitments and the Tranche A-1 Term Loans made thereunder and (b) the Tranche A-2 Term  Commitments and the Tranche A-2 Term Loans made thereunder.  “Tranche A Term Lenders” means, collectively, the Tranche A-1 Term Lenders  and the Tranche A-2 Term Lenders.  “Tranche A Term Loans” means, collectively, the Tranche A-1 Term Loans and  the Tranche A-2 Term Loans.  “Tranche A Term Loan Administrative Agent” means JPMorgan Chase Bank,  N.A., in its capacity as administrative agent for the Tranche A Term Lenders hereunder, and its  successors in such capacity as provided in Article VIII.  “Tranche A Term Loan Maturity Date” means May 25, 2027 (or if such date is not  a Business Day, the next preceding Business Day).    “Tranche A-1 Term Commitment” means, with respect to each Tranche A-1 Term  Lender, the commitment of such Tranche A-1 Term Lender to make a Tranche A-1 Term Loan  

 

  85    3141/80492-001 CURRENT/130883173v17  #95685245v21   hereunder on the Amendment No. 3 Effective Date, expressed as an amount representing the  principal amount of the Tranche A-1 Term Loans to be made by such Tranche A-1 Term Lender  hereunder.  The initial amount of each Tranche A-1 Term Lender’s Tranche A-1 Term  Commitment is set forth on Schedule 2.01(a).  The aggregate principal amount of the Tranche A- 1 Term Commitments on the Amendment No. 3 Effective Date is $483,312,500.   “Tranche A-1 Term Lender” means a Lender with an outstanding Tranche A-1  Commitment or an outstanding Tranche A-1 Term Loan.   “Tranche A-1 Term Loan” has the meaning assigned to such term in Section  2.01(a)(i).   “Tranche A-2 Term Commitment” means, with respect to each Tranche A-2 Term  Lender, the commitment of such Tranche A-2 Term Lender to make a Tranche A-2 Term Loan  hereunder on the Amendment No. 3 Effective Date, expressed as an amount representing the  principal amount of the Tranche A-2 Term Loans to be made by such Tranche A-2 Term Lender  hereunder.  The initial amount of each Tranche A-2 Term Lender’s Tranche A-2 Term  Commitment is set forth on Schedule 2.01(a).  The aggregate principal amount of the Tranche A- 2 Term Commitments on the Amendment No. 3 Effective Date is $1,266,687,500.   “Tranche A-2 Term Lender” means a Lender with an outstanding Tranche A-2  Commitment or an outstanding Tranche A-2 Term Loan.  “Tranche A-2 Term Loan” has the meaning assigned to such term in Section  2.01(a)(ii).   “Transaction Costs” means all premiums, fees, costs and expenses incurred or  payable by or on behalf of the U.S. Borrower or any Restricted Subsidiary in connection with the  Transactions or in connection with the negotiation, execution, delivery and performance of the  Loan Documents and the transactions contemplated thereby, including to fund any original issue  discount, upfront fees or legal fees and to grant and perfect any security interests.  “Transactions” means (a) the borrowing of the Loans hereunder on the Restatement  Date, the Amendment No. 1 Effective Date, the Amendment No. 2 Effective Date or the  Amendment No. 3 Effective Date, (b) the refinancing of a portion of the Senior Notes and (c) the  payment of Transaction Costs.  “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 Term SOFR Rate, the Adjusted EURIBOR Rate, the Adjusted CDOR  Rate, the Alternate Base Rate, Canadian Prime Rate or the Adjusted Daily Simple RFR.  “UCC” means the Uniform Commercial Code as in effect from time to time in the  State of New York; provided, however, that in the event that, by reason of mandatory provisions  of law, any or all of the perfection or priority of, or remedies with respect to, any Collateral is  governed by the Uniform Commercial Code as enacted and in effect in a jurisdiction other than  the State of New York, the term “UCC” shall mean the Uniform Commercial Code as enacted and  

 

  86    3141/80492-001 CURRENT/130883173v17  #95685245v21   in effect in such other jurisdiction solely for purposes of the provisions hereof relating to such  perfection, priority or remedies.  “U.K. Borrower” has the meaning assigned to such term in the preamble to this  Agreement.  “U.K. Borrower DTTP Filing” means an HM Revenue & Customs’ Form DTTP2  duly completed and filed by the relevant Borrower, which: (i) where it relates to a U.K. Treaty  Lender that is a Lender on the Amendment No. 3 Effective Date, contains the scheme reference  number and jurisdiction of tax residence stated opposite that Lender’s name in Schedule 2.17(g),  and (a) where the applicable Borrower is a Borrower on the Amendment No. 3 Effective Date, is  filed with HM Revenue & Customs within thirty (30) days of the Amendment No. 3 Effective  Date; or (b) where the applicable Borrower becomes a Borrower after the Amendment No. 3  Effective Date, is filed with HM Revenue & Customs within thirty (30) days of the date on which  that Borrower becomes a Borrower under this Agreement; or (ii) where it relates to a U.K. Treaty  Lender that is not an Lender on the Amendment No. 3 Effective Date, contains the scheme  reference number and jurisdiction of tax residence stated in respect of that Lender in the relevant  Assignment and Assumption (or, if such Lender becomes Lender otherwise than pursuant to an  Assignment and Assumption, in the relevant documentation which it executes on becoming a  Lender under this Agreement); and (a) where the applicable Borrower is a Borrower as at the date  on which that U.K. Treaty Lender becomes a Lender under this Agreement, is filed with HM  Revenue & Customs within thirty (30) days of that date; or (b) where the applicable Borrower is  not a Borrower as at the date on which that U.K. Treaty Lender becomes a Lender under this  Agreement, is filed with HM Revenue & Customs within thirty (30) days of the date on which that  Borrower becomes a Borrower under this Agreement; provided that, in the event that a Borrower  uses a HM Revenue & Customs’ Form DTTP2A to make a filing in respect of more than one  Lender, such Form DTTP2A shall be deemed to be a HM Revenue & Customs’ Form DTTP2 in  respect of each U.K. Treaty Lender specified therein.  “U.K. CTA” means the U.K. Corporation Tax Act 2009.  “U.K. ITA” means the U.K. Income Tax Act 2007.  “U.K. Financial Institution” means any BRRD Undertaking (as such term is defined  under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom  Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook  (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority,  which includes certain credit institutions and investment firms, and certain affiliates of such credit  institutions or investment firms.  “U.K. Legal Reservations” means (i) the principle that equitable remedies may be  granted or refused at the discretion of the court, the limitation on enforcement by laws relating to  bankruptcy, insolvency, liquidation, reorganization, court schemes, moratoria, administration and  other laws generally affecting the rights of creditors and similar principles, rights, defences and  limitations under the laws of any applicable jurisdiction; (ii) the time barring of claims under any  applicable limitation laws, the possibility that a court may strike out provisions of a contract as  being invalid for reasons of oppression, undue influence or similar reasons, the possibility that an  

 

  87    3141/80492-001 CURRENT/130883173v17  #95685245v21   undertaking to assume liability for or to indemnify a person against non-payment of stamp duty  may be void, defences of set-off or counterclaim and similar principles, rights, defenses and  limitations under the laws of any applicable jurisdiction and (iii) any other general principles,  reservations or qualifications, in each case as to matters of law, as set out in any legal opinion  delivered under any provision of or otherwise in connection with any Loan Document.  “U.K. Non-Bank Lender” means: (i) where a Lender is a party to this Agreement  on the Amendment No. 3 Effective Date, a Lender which is designated as a U.K. Non-Bank Lender  in Schedule 2.17(f); and (ii) where a Lender becomes a party to this Agreement after the  Amendment No. 3 Effective Date, a Lender which gives a U.K. Tax Confirmation in the relevant  Assignment or Assumption (or, if such Lender becomes Lender otherwise than pursuant to an  Assignment and Assumption, in the relevant documentation which it executes on becoming a  Lender under this Agreement).  “U.K. Obligations” means and includes any and all Obligations pertaining to (a)  U.K. Revolving Loans, (b) Tranche A-1 Term Loans, and (c) any other Obligations directly owing  by the U.K. Borrower.  “U.K. Perfection Requirements” means the making (or procuring) of registrations,  filings, endorsements, notarizations, stampings and/or notifications of the Loan Documents  (including if relevant the security interests created thereunder) necessary for the validity or  enforceability of such Loan Documents.  “U.K. Qualifying Lender” means a Lender which is beneficially entitled to interest  payable to that Lender in respect of an advance under a Loan Document and is (a) a Lender: (i)  which is a bank (as defined for the purpose of section 879 of the U.K. ITA) making an advance  under a Loan Document and is within the charge to U.K. corporation tax as respects any payments  of interest made in respect of that advance or would be within such charge as respects such  payments apart from section 18A of the U.K. CTA; or (ii) in respect of an advance made under a  Loan Document by a person that was a bank (as defined for the purpose of section 879 of the U.K.  ITA) at the time that that advance was made and within the charge to U.K. corporation tax as  respects any payments of interest made in respect of that advance; or (b) a Lender which is: (i) a  company resident in the United Kingdom for U.K. tax purposes; or (ii) a partnership each member  of which is: (1) a company so resident in the United Kingdom; or (2) a company not so resident in  the United Kingdom which carries on a trade in the United Kingdom through a permanent  establishment and which brings into account in computing its chargeable profits (within the  meaning of section 19 of the U.K. CTA) the whole of any share of interest payable in respect of  that advance that falls to it by reason of Part 17 of the U.K. CTA; or (iii) a company not so resident  in the United Kingdom which carries on a trade in the United Kingdom through a permanent  establishment and which brings into account interest payable in respect of that advance in  computing the chargeable profits (within the meaning of section 19 of the CTA) of that company;  (c) a U.K. Treaty Lender or (d) a building society (as defined for the purposes of section 880 of  the U.K. ITA) making an advance under a Loan Document.  “U.K. Resolution Authority” means the Bank of England or any other public  administrative authority having responsibility for the resolution of any U.K. Financial Institution.  

 

  88    3141/80492-001 CURRENT/130883173v17  #95685245v21   “U.K. Revolving Exposure” means, as to each Revolving Lender, the sum of (a)  the aggregate principal amount of the U.K. Revolving Loans denominated in Dollars outstanding  at such time, (b) the Dollar Equivalent of the aggregate principal amount of the U.K. Revolving  Loans denominated in an Alternative Currency outstanding at such time and (c) the U.K. Swingline  Exposure at such time.  The U.K. Revolving Exposure of any Lender at any time shall be its  Applicable Percentage of the aggregate U.K. Revolving Exposure at such time.  “U.K. Revolving Loan” means a Loan made pursuant to clause (b)(ii) of Section  2.01.  “U.K. Swingline Exposure” means, at any time, the aggregate principal amount of  all Swingline Loans outstanding to the U.K. Borrower at such time.  “U.K. Tax Confirmation” means a confirmation by a Lender that the person  beneficially entitled to interest payable to that Lender in respect of an advance under a Loan  Document is either: (a) a company resident in the United Kingdom for United Kingdom tax  purposes; or (b) a partnership each member of which is: (i) a company so resident in the United  Kingdom; or (ii) a company not so resident in the United Kingdom which carries on a trade in the  United Kingdom through a permanent establishment and which brings into account in computing  its chargeable profits (within the meaning of section 19 of the U.K. CTA) the whole of any share  of interest payable in respect of that advance that falls to it by reason of Part 17 of the U.K. CTA;  or (c) a company not so resident in the United Kingdom which carries on a trade in the United  Kingdom through a permanent establishment and which brings into account interest payable in  respect of that advance in computing the chargeable profits (within the meaning of section 19 of  the U.K. CTA) of that company.  “U.K. Tax Deduction” means a deduction or withholding for or on account of Tax  imposed by the United Kingdom from a payment under a Loan Document, other than a deduction  or withholding required by FATCA.  “U.K. Treaty State” means a jurisdiction having a double taxation agreement (a  “U.K. Treaty”) with the United Kingdom which makes provision for full exemption from tax  imposed by the United Kingdom on interest.  “U.K. Treaty Lender” means a Lender which: (1) is treated as a resident of a U.K.  Treaty State for the purposes of a U.K. Treaty; (2) does not carry on a business in the United  Kingdom through a permanent establishment with which that Lender’s participation in the Loan  is effectively connected; and (3) fulfils any other conditions which must be fulfilled under that  U.K. Treaty to obtain full exemption from United Kingdom tax on interest payable to that Lender  in respect of an advance under a Loan Document and has completed all procedural requirements  which are within the control of the Lender and are necessary for the U.K. Borrower to make such  payments without a U.K. Tax Deduction except that it shall be assumed that any condition in the  U.K. Treaty that relates  to there being no special relationship between the applicable Loan Party  and such Lender or between both of them and another Person is satisfied.  “Unadjusted Benchmark Replacement” means the applicable Benchmark  Replacement excluding the related Benchmark Replacement Adjustment.  

 

  89    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Undisclosed Administration” means in relation to a Lender or its parent company  the appointment of an administrator, provisional liquidator, conservator, receiver, trustee,  custodian or other similar official by a supervisory authority or regulator under or based on the  law in the country where such Lender or such parent company, as the case may be, is subject to  home jurisdiction supervision if applicable law requires that such appointment is not to be publicly  disclosed.  “Unfunded Pension Liability” means, with respect to any Plan at any time, the  amount of any of its unfunded benefit liabilities as defined in Section 4001(a)(18) of ERISA.  “Unrestricted Additional Term Notes” means first priority senior secured notes  and/or junior lien secured notes and/or unsecured notes, in each case issued pursuant to an  indenture, note purchase agreement or other agreement and in lieu of the incurrence of Unrestricted  Incremental First Lien Indebtedness; provided that (a) such Unrestricted Additional Term Notes  rank pari passu or junior in right of payment and (if secured) of security with the corresponding  Class of Term Loans of the applicable Borrower and Commitments hereunder, (b) the Unrestricted  Additional Term Notes have a final maturity date that is on or after the then existing Latest  Maturity Date with respect to the Term Loans of the corresponding Class and a Weighted Average  Life to Maturity (without giving effect to nominal amortization for periods where amortization has  been eliminated as a result of a prepayment of the applicable Term Loans) equal to or longer than  the remaining Weighted Average Life to Maturity of the corresponding Class of the then existing  Term Loans (without giving effect to nominal amortization for periods where amortization has  been eliminated as a result of a prepayment of the applicable Term Loans), (c) the covenants,  events of default and other terms of which (other than maturity, fees, discounts, interest rate,  redemption terms and redemption premiums, which shall be determined in good faith by the  applicable Borrower) of such Unrestricted Additional Term Notes, shall be on market terms at the  time of issuance (as determined in good faith by the applicable Borrower) of the Unrestricted  Additional Term Notes; provided that such Unrestricted Additional Term Notes shall not have the  benefit of any financial maintenance covenant unless (x) the Term Loans have the benefit of such  financial maintenance covenant on the same terms or (y) the Term Loans have in the future been  provided with the benefit of a financial maintenance covenant, in which case such Unrestricted  Additional Term Notes issued after such future date may be provided with the benefit of the same  financial maintenance covenant on the same terms, (d) no Restricted Subsidiary is a borrower or a  guarantor with respect to such Indebtedness unless such Restricted Subsidiary is a Loan Party  which shall have previously or substantially concurrently guaranteed or borrowed, as applicable,  the Obligations, (e) if such Unrestricted Additional Term Notes are secured, (i) the obligations in  respect thereof shall not be secured by liens on the assets of the U.S. Borrower and the Restricted  Subsidiaries, other than assets constituting Collateral, (ii) all security therefor shall be granted  pursuant to documentation that is not more restrictive than the Security Documents in any material  respect or, if the Liens are pari passu with the Obligations, pursuant to amendments to the Security  Documents reasonably acceptable to the Administrative Agents, in each case taken as a whole (as  determined by the applicable Borrower) and (iii) it shall be subject to a customary intercreditor  agreement with the Collateral Agent substantially consistent with the terms set forth on Exhibit K- 1 or K-2 annexed hereto together with (A) any immaterial changes or (B) material changes thereto  in light of prevailing market conditions, which material changes shall be posted to the Lenders  and, unless the Required Lenders shall have objected in writing to such changes within five (5)  

 

  90    3141/80492-001 CURRENT/130883173v17  #95685245v21   Business Days after such posting, then the Required Lenders shall be deemed to have agreed that  the Collateral Agent’s entering into such intercreditor agreement (with such changes) is reasonable  and to have consented to such intercreditor agreement (with such changes) and to the Collateral  Agent’s execution thereof, in each case in form and substance reasonably satisfactory to the  Collateral Agent (it being understood that junior Liens are not required to be pari passu with other  junior Liens, and that Indebtedness secured by junior Liens may be secured by Liens that are pari  passu with, or junior in priority to, other Liens that are junior to the Liens securing the Obligations,  as applicable) and (f) any Unrestricted Additional Term Notes issued shall reduce or be counted  against, on a dollar-for-dollar basis, the amount available to be drawn as Unrestricted Incremental  First Lien Indebtedness (it being understood that the Borrowers may redesignate any such  Indebtedness originally designated as Unrestricted Additional Term Notes as Additional Term  Notes if at the time of such redesignation, the Borrowers would be permitted to incur the aggregate  principal amount of Indebtedness being so redesignated in accordance with the definition thereof  (for purpose of clarity, with any such redesignation having the effect of increasing the Borrowers’  ability to incur Unrestricted Incremental First Lien Indebtedness as of the date of such  redesignation by the amount of such Indebtedness so redesignated)).  “Unrestricted Incremental First Lien Indebtedness” has the meaning assigned to  such term in Section 2.20.  “Unrestricted Subsidiary” means (a) a Subsidiary of the U.S. Borrower designated  as an “Unrestricted Subsidiary” on Schedule 1.04 and any Subsidiary designated as an  “Unrestricted Subsidiary” from time to time pursuant to Section 5.12 and (b) any Subsidiary of an  Unrestricted Subsidiary; provided that the U.S. Borrower may not designate the U.K. Borrower as  an Unrestricted Subsidiary.   “U.S. Borrower” has the meaning assigned to such term in the preamble to this  Agreement.  “U.S. Government Securities Business Day” means any day except for (i) a  Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets  Association recommends that the fixed income departments of its members be closed for the entire  day for purposes of trading in United States government securities.  “U.S. Loan Parties” means a Loan Party that is neither a Foreign Subsidiary  (including the U.K. Borrower) nor a CFC Holding Company nor a Subsidiary of a CFC Holding  Company or Foreign Subsidiary.  “U.S. Obligations” means and includes any and all Obligations pertaining to (a)  U.S. Revolving Loans, (b) Tranche A-2 Term Loans, (c) any other Obligations directly owing by  the U.S. Loan Parties, and (d) the guaranty by the U.S. Loan Parties of the U.K. Obligations.  “U.S. Person” means a “United States person” within the meaning of Section  7701(a)(30) of the Code.  “U.S. Prime Rate” means the rate of interest published by The Wall Street Journal  (eastern edition), from time to time, as the “U.S. Prime Rate”.  

 

  91    3141/80492-001 CURRENT/130883173v17  #95685245v21   “U.S. Revolving Exposure” means, as to each Revolving Lender, the sum of (a) the  aggregate principal amount of the U.S. Revolving Loans denominated in Dollars outstanding at  such time, (b) the Dollar Equivalent of the aggregate principal amount of the U.S. Revolving Loans  denominated in an Alternative Currency outstanding at such time, (c) the LC Exposure at such  time, and (d) the U.S. Swingline Exposure at such time.  The U.S. Revolving Exposure of any  Lender at any time shall be its Applicable Percentage of the aggregate U.S. Revolving Exposure  at such time.  “U.S. Revolving Loan” means a Loan made pursuant to clause (b)(i) of Section  2.01.  “U.S. Special Resolution Regime” has the meaning assigned to it in Section 9.20.  “U.S. Swingline Exposure” means, at any time, the aggregate principal amount of  all Swingline Loans outstanding to the U.S. Borrower at such time.  “U.S. Tax Certificate” has the meaning assigned to such term in Section  2.17(f)(ii)(D).  “VAT” means (a) any value added tax imposed by the Value Added Tax Act 1994;  (b) any tax imposed in compliance with the Council Directive of 28 November 2006 on the  common system of value added tax (EC Directive 2006/112); and (c) any other tax of a similar  nature, whether imposed in the United Kingdom or a member state of the European Union in  substitution for, or levied in addition to, such tax referred to in paragraph (a) or (b) above, or  imposed elsewhere.  “Weighted Average Life to Maturity” means, when applied to any amortizing  Indebtedness at any date, the number of years obtained by dividing:  (a) the sum of the products  obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial  maturity or other required payments of principal, including payment at final maturity, in respect  thereof, by (ii) the number of years (calculated to the nearest one-twelfth) that will elapse between  such date and the making of such payment; by (b) the then outstanding principal amount of such  Indebtedness.  “wholly owned Subsidiary” or “wholly owned subsidiary” means, with respect to  any Person at any date, a subsidiary of such Person of which securities or other ownership interests  representing 100% of the Equity Interests (other than (x) directors’ qualifying shares or (y) shares  issued to foreign nationals to the extent required by applicable law) are, as of such date, owned,  controlled or held by such Person or one or more wholly owned subsidiaries of such Person or by  such Person and one or more wholly owned subsidiaries of such Person.  For the avoidance of  doubt, “wholly owned Restricted Subsidiary” means a wholly owned Subsidiary that is a  Restricted Subsidiary.  “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.  

 

  92    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Write-Down and Conversion Powers” means, (a) 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, and (b)  with respect to the United Kingdom, any powers of the applicable Resolution Authority under the  Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any U.K. Financial  Institution or any contract or instrument under which that liability arises, to convert all or part of  that liability into shares, securities or obligations of that person or any other person, to provide that  any such contract or instrument is to have effect as if a right had been exercised under it or to  suspend any obligation in respect of that liability or any of the powers under that Bail-In  Legislation that are related to or ancillary to any of those powers.  “Yen” or “¥”means the lawful currency of Japan.  “Yield” means, with respect to any Loan or Revolving Commitment, as the case  may be, on any date of determination as calculated by the applicable Administrative Agent, (a)  any interest rate margin, (b) increases in interest rate floors (but only to the extent that an increase  in the interest rate floor with respect to the Initial Tranche A-1 Term Loans and Initial Tranche A- 2 Term Loans or the implementation of an interest floor with respect to Initial Revolving Loans,  as the case may be, would cause an increase in the interest rate then in effect at the time of  determination hereunder, and, in such case, then the interest rate floor (but not the interest rate  margin solely for determinations under this clause (b)) applicable to such Initial Tranche A-1 Term  Loans, Initial Tranche A-2 Term Loans and Initial Revolving Loans, as the case may be, shall be  increased to the extent of such differential between interest rate floors), (c) original issue discount  and (d) upfront fees paid generally to all Persons providing such Loan or Commitment (with  original issue discount and upfront fees being equated to interest based on the shorter of (x) the  Weighted Average Life to Maturity of such Loans and (y) four years), but exclusive of any  arrangement, structuring, underwriting or similar fee paid to any Person in connection therewith  that are not shared generally with all Persons providing such Loan or Commitment.  Section 1.02 Classification of Loans and Borrowings.  For purposes of this  Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by  Type (e.g., a “Term Benchmark Loan” or an “RFR Loan”) or by Class and Type (e.g., a “Term  Benchmark Revolving Loan” or an “RFR Revolving Loan”).  Borrowings also may be classified  and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Term Benchmark  Borrowing” or an “RFR Borrowing”) or by Class and Type (e.g., a “Term Benchmark Revolving  Borrowing” or an “RFR 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.”  Unless the context requires otherwise, (a) any definition of or reference to any  agreement, instrument or other document herein shall be construed as referring to such  agreement, instrument or other document as from time to time amended, amended and restated,  supplemented or otherwise modified (including pursuant to any permitted refinancing,  

 

  93    3141/80492-001 CURRENT/130883173v17  #95685245v21   extension, renewal, replacement, restructuring or increase (in each case, whether pursuant to one  or more agreements or with different lenders or different agents), but subject to any restrictions  on such amendments, supplements or modifications set forth herein), (b) any reference herein to  any Person shall be construed to include such Person’s successors and permitted assigns and, in  the case of any Governmental Authority, any other Governmental Authority that shall have  succeeded to any or all of the functions thereof, (c) 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, (d) 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, (e) the words “asset” and “property” shall be construed to have  the same meaning and effect and to refer to any and all tangible and intangible assets and  properties, including cash, securities, accounts and contract rights, (f) any reference to any  Requirement of Law shall, unless otherwise specified, refer to such Requirement of Law as  amended, modified or supplemented from time to time and shall include all statutory and  regulatory provisions consolidating, amending, replacing, supplementing or interpreting such  Requirement of Law, (g) the phrase “for the term of this Agreement” and any similar phrases  shall mean the period beginning on the Restatement Date and ending on the Latest Maturity  Date, the term “manifest error” shall be deemed to include any clearly demonstrable error  whether or not obvious on the face of the document containing such error and (h) all references  to “knowledge” or “awareness” of any Loan Party or a Restricted Subsidiary thereof means the  actual knowledge of a Responsible Officer of a Loan Party or such Restricted Subsidiary.  Unless  otherwise specified, all references herein to times of day shall be references to New York City  time (daylight or standard, as applicable).    Section 1.04 Accounting Terms; GAAP.  Except as otherwise expressly  provided herein, all terms of an accounting or financial nature shall be construed in accordance  with GAAP, as in effect from time to time.  In the event that any Accounting Change (as defined  below) shall occur and such change results in a change in the method of calculation of financial  covenants, standards or terms in this Agreement, then the Borrowers and the Administrative  Agents agree to enter into good faith negotiations in order to amend such provisions of this  Agreement so as to equitably reflect such Accounting Change with the desired result that the  criteria for evaluating the U.S. Borrower’s and the Subsidiaries’ consolidated financial condition  shall be the same after such Accounting Change as if such Accounting Change had not been  made.  Until such time as such an amendment shall have been executed and delivered by the  Borrowers, the Administrative Agents and the Required Lenders, all financial ratios, covenants,  standards and terms in this Agreement shall continue to be calculated or construed as if such  Accounting Change had not occurred.  “Accounting Change” refers to any change in accounting  principles required by the promulgation of any rule, regulation, pronouncement or opinion by  the Financial Accounting Standards Board of the American Institute of Certified Public  Accountants or, if applicable, the SEC.  Notwithstanding anything in this Agreement to the contrary, any existing requirement of, or any  change in, GAAP or the application or interpretation thereof that would require operating leases  to be treated similarly as a capital lease shall not be given effect in the definitions of Indebtedness  or Liens or any related definitions or in the computation of any financial ratio or requirement.  

 

  94    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 1.05 Pro Forma Calculations.  With respect to any period during which  the Transactions or any Specified Transaction occurs, for purposes of determining the Applicable  Margin in respect of such period, calculation of the Consolidated Interest Coverage Ratio, Total  Net Leverage Ratio, Total Secured Net Leverage Ratio, First Lien Net Leverage Ratio,  Consolidated EBITDA and Consolidated Total Assets or for any other purpose hereunder with  respect to such period shall be made on a Pro Forma Basis.   Section 1.06 Currency Translation.   (a) For purposes of determining compliance as of any date after the Restatement Date  with Section 5.10, Section 5.11, Section 5.12, Section 5.17, Section 6.01, Section 6.02, Section  6.03, Section 6.04, Section 6.05, Section 6.06 or Section 6.11, or for purposes of making any  determination under Section 7.01(f), (g), (j) or (l), or for any other specified purpose hereunder,  amounts incurred or outstanding in currencies other than Dollars shall be translated into Dollars at  the exchange rates in effect on the last Business Day of the fiscal quarter immediately preceding  the fiscal quarter in which such determination occurs or in respect of which such determination is  being made, as such exchange rates shall be determined in good faith by the U.S. Borrower by  reference to customary indices; provided that for purposes of determining compliance with the  First Lien Net Leverage Ratio, Total Secured Net Leverage Ratio, Total Net Leverage Ratio or  Consolidated Interest Coverage Ratio on any date of determination, amounts denominated in a  currency other than Dollars will be translated into Dollars (i) with respect to income statement  items, at the currency exchange rates used in calculating Consolidated Net Income in the U.S.  Borrower’s latest financial statements delivered pursuant to Section 5.01(a) or (b) and (ii) with  respect to balance sheet items, at the currency exchange rates used in calculating balance sheet  items in the U.S. Borrower’s latest financial statements delivered pursuant to Section 5.01(a) or  (b) and will, in the case of Indebtedness, reflect the currency translation effects, determined in  accordance with GAAP, of Swap Agreements permitted hereunder for currency exchange risks  with respect to the applicable currency in effect on the date of determination of the Dollar  Equivalent of such Indebtedness.  No Default or Event of Default shall arise as a result of any  limitation or threshold set forth in Dollars in Section 5.10, Section 5.11, Section 5.12, Section 5.17,  Section 6.01, Section 6.02, Section 6.03, Section 6.04, Section 6.05, Section 6.06, Section 6.11 or  Section 7.01(f), (g), (j) or (l), being exceeded solely as a result of changes in currency exchange  rates from those rates applicable on the last day of the fiscal quarter immediately preceding the  fiscal quarter in which such determination occurs or in respect of which such determination is  being made.  (b) The Revolving Facility Administrative Agent (or the Issuing Bank, to the extent  otherwise set forth in this Agreement) shall determine the Dollar Equivalent of any Letter of Credit  denominated in an Alternative Currency as of (i) each date (with such date to be reasonably  determined by the Revolving Facility Administrative Agent or Issuing Bank, as applicable) that is  on or about the date of each request for the issuance, amendment, renewal or extension of any  Letter of Credit, (ii) each date on which the Dollar Equivalent in respect of any Borrowing is  determined pursuant to paragraph (c) of this Section, and (iii) from time to time with notice to the  U.S. Borrower in its reasonable discretion, and each such amount shall be the Dollar Equivalent  of such Letter of Credit until the next required calculation thereof pursuant to this Section 1.06(b).  

 

  95    3141/80492-001 CURRENT/130883173v17  #95685245v21   (c) The Revolving Facility Administrative Agent shall determine the Dollar  Equivalent of any Borrowing denominated in an Alternative Currency as of (i) each date (with  such date to be reasonably determined by the Revolving Facility Administrative Agent) that is on  or about the date of a Borrowing Request or Interest Election Request or the beginning of each  Interest Period with respect to any Borrowing, (ii) each date on which the Dollar Equivalent in  respect of any Letter of Credit is determined pursuant to paragraph (b) of this Section, (iii) each  date of determination of the rates specified under the heading “Commitment Fee Rate” in the  definition of “Applicable Margin” and (iv) from time to time with notice to the U.S. Borrower in  its reasonable discretion, and each such amount shall be the Dollar Equivalent of such Borrowing  until the next required calculation thereof pursuant to this Section 1.06(c).  (d) The Dollar Equivalent of any LC Disbursement made by the Issuing Bank in an  Alternative Currency and not reimbursed by the U.S. Borrower shall be determined as set forth in  Section 2.05(d) or (e), as applicable.  (e) The Revolving Facility Administrative Agent (or the Issuing Bank, as applicable)  shall notify the U.S. Borrower, the applicable Lenders and, as applicable, the Issuing Bank, of each  calculation of the Dollar Equivalent of each Letter of Credit, Borrowing and LC Disbursement.  Section 1.07 Rounding.  Any financial ratios required to be maintained pursuant  to this Agreement (or required to be satisfied in order for a specific action to be permitted under  this Agreement) shall be calculated by dividing the appropriate component by the other  component, carrying the result to one place more than the number of places by which such ratio  is expressed herein and rounding the result up or down to the nearest number (with a rounding- up for five).  For example, if the relevant ratio is to be calculated to the hundredth decimal place  and the calculation of the ratio is 5.125, the ratio will be rounded up to 5.13.    Section 1.08 Timing of Payment or Performance.  When the payment of any  obligation or the performance of any covenant, duty or obligation is stated to be due or  performance required on (or before) a day which is not a Business Day, the date of such payment  (other than as described in the definition of “Interest Period”) or performance shall extend to the  immediately succeeding Business Day, and such extension of time shall be reflected in  computing interest or fees, as the case may be.  Section 1.09 Letter of Credit Amounts.  Unless otherwise specified herein, the  amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter  of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that,  by its terms or the terms of any Letter of Credit Application related thereto, provides for one or  more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall  be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all  such increases, whether or not such maximum stated amount is in effect at such time.  For all  purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its  terms but any amount may still be drawn thereunder by any reason of the operation of Rule 3.14  of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining  available to be drawn.  

 

  96    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 1.10 Certifications.  All certifications to be made hereunder by an officer  or representative of a Loan Party shall be made by such a Person in his or her capacity solely as  an officer or a representative of such Loan Party, on such Loan Party’s behalf and not in such  Person’s individual capacity.  Section 1.11 Compliance with Article VI.  In the event that any Lien,  Investment, Restricted Payment, Disposition or Indebtedness (whether at the time of incurrence  or upon application of all or a portion of the proceeds thereof) meets the criteria of one or more  than one of the categories of transactions then permitted pursuant to any clause of such Sections  in Article VI, the Borrower, in its sole discretion, may classify or later divide, classify or  reclassify such transaction within the same covenant and shall only be required to include the  amount and type of such transaction in one of such clauses. With respect to any amounts incurred  or transactions entered into (or consummated) in reliance on a provision of this Agreement that  does not require compliance with a financial ratio or test (any such amounts, the “Fixed  Amounts”) substantially concurrently with any amounts incurred or transactions entered into (or  consummated) in reliance on a provision of this Agreement that requires compliance with any  such financial ratio or test (any such amounts, the “Incurrence-Based Amounts”), it is understood  and agreed that the Fixed Amounts (and any cash proceeds thereof) shall be disregarded in the  calculation of the financial ratio or test applicable to the Incurrence-Based Amounts in  connection with such substantially concurrent incurrence. In addition, any amounts incurred or  transactions entered into in reliance on Fixed Amounts shall be automatically and immediately  reclassified at any time, unless the U.S. Borrower otherwise elect from time to time, as incurred  under the applicable Incurrence-Based Amounts if the Borrowers subsequently meet the  applicable ratio for such Incurrence-Based Amounts on a Pro Forma Basis.  Section 1.12 Divisions.  For all purposes under the Loan Documents, in  connection with any division or plan of division under Delaware law (or any comparable event  under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person  becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to  have been transferred from the original Person to the subsequent Person, and (b) if any new  Person comes into existence, such new Person shall be deemed to have been organized and  acquired on the first date of its existence by the holders of its Equity Interests at such time.  Section 1.13 Interest Rates; Benchmark Notification.  The interest rate on a Loan  denominated in Dollars or an Alternative Currency may be derived from an interest rate  benchmark that may be discontinued or is, or may in the future become, the subject of regulatory  reform.  Upon the occurrence of a Benchmark Transition Event, Section 2.14(b) provides a  mechanism for determining an alternative rate of interest.  The applicable Administrative Agent  does not warrant or accept any responsibility for, and shall not have any liability with respect to,  the administration, submission, performance or any other matter related to any interest rate used  in this Agreement, or with respect to any alternative or successor rate thereto, or replacement  rate thereof, including without limitation, whether the composition or characteristics of any such  alternative, successor or replacement reference rate will be similar to, or produce the same value  or economic equivalence of, the existing interest rate being replaced or have the same volume or  liquidity as did any existing interest rate prior to its discontinuance or unavailability.  The  applicable Administrative Agent and its affiliates and/or other related entities may engage in  

 

  97    3141/80492-001 CURRENT/130883173v17  #95685245v21   transactions that affect the calculation of any  interest rate used in this Agreement or any  alternative, successor or alternative rate (including any Benchmark Replacement) and/or any  relevant adjustments thereto, in each case, in a manner adverse to the Borrowers.  The applicable  Administrative Agent may select information sources or services in its reasonable discretion to  ascertain any interest rate used in this Agreement, any component thereof, or rates referenced in  the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no  liability to the Borrowers, any Lender or any other person or entity for damages of any kind,  including direct or indirect, special, punitive, incidental or consequential damages, costs, losses  or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error  or calculation of any such rate (or component thereof) provided by any such information source  or service.  ARTICLE II  The Credits  Section 2.01 Commitments.  Subject to the terms and express conditions set  forth herein, (a) (i) each Tranche A-1 Term Lender severally agrees to make a single term loan  to the U.K. Borrower (each such loan, a “Tranche A-1 Term Loan”) on the Amendment No. 3  Effective Date in Dollars in a principal amount equal to its Tranche A-1 Term Commitment and  (ii) each Tranche A-2 Term Lender severally agrees to make a single term loan to the U.S.  Borrower (each such Loan, a “Tranche A-2 Term Loan”) on the Amendment No. 3 Effective  Date in Dollars in a principal amount equal to its Tranche A-2 Term Loan Commitment, and (b)  each Revolving Lender severally agrees to make, in an aggregate principal amount such that its  Revolving Exposure will not exceed its Revolving Commitment, (i) U.S. Revolving Loans to  the U.S. Borrower from time to time during the Revolving Availability Period in Dollars or in  an Alternative Currency and (ii) U.K. Revolving Loans to the U.K. Borrower from time to time  during the Revolving Availability Period in Dollars or in an Alternative Currency.  Within the  foregoing limits and subject to the terms and express conditions set forth herein, the applicable  Borrower may borrow, prepay and reborrow Revolving Loans (without premium or penalty).   Amounts repaid or prepaid in respect of Term Loans may not be reborrowed.  The Term  Commitments will terminate in full upon the making of the Loans referred to in clause (a) above.   Substantially simultaneously with the borrowing of the Tranche A-1 Term Loans  and the Tranche A-2 Term Loans, each Borrower shall fully prepay its outstanding Existing  Amendment No. 3 Term Loans, together with accrued and unpaid interest thereon for the period  ending on the Amendment No. 3 Effective Date.     Notwithstanding anything to the contrary contained herein, payments and  prepayments of principal and interest on the Existing Amendment No. 3 Term Loans made on the  Amendment No. 3 Effective Date in connection with the replacement of Non-Consenting Lenders  pursuant to Section 9.02(c) hereof may be applied on a non-ratable basis as the applicable  Borrower may direct.  Section 2.02 Loans and Borrowings.    (a) Each Loan shall be made as part of a Borrowing consisting of Loans of the same  Class, Type and currency made to a Borrower by the Lenders ratably in accordance with their  

 

  98    3141/80492-001 CURRENT/130883173v17  #95685245v21   respective Commitments of the applicable Class.  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 no Lender shall be responsible for any other  Lender’s failure to make Loans as required.  (b) Subject to Section 2.14, (i) each Revolving Loan Borrowing denominated in  Sterling shall be comprised entirely of RFR Loans, (ii) each Revolving Loan Borrowing  denominated in Canadian Dollars shall be comprised entirely of Term Benchmark Loans, (iii) each  Revolving Loan Borrowing denominated in Euros shall be comprised entirely of Term Benchmark  Loans, (iv) each Term Loan Borrowing shall be comprised entirely of Term Benchmark Loans or  ABR Loans as the applicable Borrower may request in accordance herewith and (v) each  Revolving Loan Borrowing denominated in Dollars may be comprised of Term Benchmark Loans,  RFR Loans or ABR Loans as the applicable Borrower may request in accordance herewith.  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 Term Benchmark  Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of  $1,000,000 and not less than $2,000,000.  At the time that each ABR Revolving Loan Borrowing  and/or RFR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral  multiple of $500,000 and not less than $1,000,000.  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 Term Benchmark Revolving Borrowings or RFR Borrowings outstanding plus up to an  additional three (3) Interest Periods in respect of each (i) Incremental Facility, (ii) Extended Term  Loans and Extended Revolving Commitments, and (iii) Other Term Loans and Other Revolving  Loans.  Each Swingline Loan shall be in an amount that is an integral multiple of $250,000 and  not less than $500,000.  Notwithstanding anything to the contrary herein, the Revolving Loans  comprising any Borrowing may be in an aggregate amount that is equal to the entire unused  balance of the aggregate Revolving Commitments.  Borrowings of more than one Type and Class  may be outstanding at the same time.  (d) Notwithstanding any other provision of this Agreement, a Borrower shall not be  entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested  with respect thereto would end after the applicable Revolving Maturity Date (in the case of such  Revolving Loan) or the Term Loan Maturity Date applicable to such Borrowing (in the case of  such Term Loan), as the case may be.  (e) The obligations of the Revolving Lenders hereunder to make Revolving Loans, to  fund participations in Letters of Credit and to make payments pursuant to Section 9.03(c) are  several and not joint (it being understood that the foregoing shall in no way be in derogation of the  reallocation of participations in Letters of Credit among the Revolving Lenders contemplated by  Section 2.22(a)(iv)).  Section 2.03 Requests for Borrowings.  To request a Borrowing, the applicable  Borrower shall notify the applicable Administrative Agent of such request by telephone (a)(i)(x)  

 

  99    3141/80492-001 CURRENT/130883173v17  #95685245v21   in the case of a Term Benchmark Borrowing denominated in Dollars, not later than 1:00 p.m.,  New York City time, three (3) Business Days before the date of the proposed Borrowing or (y)  in the case of an RFR Borrowing denominated in Dollars, not later than 1:00 p.m., New York  City time, three (3) Business Days before the date of the proposed Borrowing, (ii) in the case of  a Term Benchmark Borrowing denominated in Euros or Canadian Dollars, not later than 1:00  p.m., New York City time, three (3) Business Days before the date of the proposed Borrowing,  and (iii) in the case of an RFR Borrowing denominated in Sterling, not later than 11:00 a.m.,  New York City time, three (3) RFR Business Days before the date of the proposed Borrowing  or (b) in the case of an ABR Borrowing, not later than 1:00 p.m., New York City time, on the  date of the proposed Borrowing.  Each such telephonic Borrowing Request shall be confirmed  promptly by hand delivery, electronic communication (including Adobe pdf file) or facsimile to  the applicable Administrative Agent of a written Borrowing Request signed by the applicable  Borrower.  Each such telephonic and written Borrowing Request shall specify the following  information:  (i) the applicable Borrower;  (ii) the Class of such Borrowing;  (iii)the Agreed Currency and aggregate amount of such Borrowing;  (iv) the date of such Borrowing, which shall be a Business Day;  (v) whether such Borrowing is to be an ABR Borrowing, a Term  Benchmark Borrowing or an RFR Borrowing;  (vi) in the case of a Term Benchmark Borrowing, the initial Interest  Period to be applicable thereto, which shall be a period contemplated by the  definition of the term “Interest Period”;   (vii) the location and number of such Borrower’s account to  which funds are to be disbursed, which shall comply with the requirements of  Section 2.06; and  (viii) in the case of a Borrowing Request made in respect of a  Revolving Loan Borrowing, that as of such date the express conditions in  Section 4.02(a) and (b) are satisfied (or waived).  If no currency is specified with respect to any Borrowing, the applicable Borrower shall be deemed  to have selected Dollars.  If no election as to the Type of Borrowing is specified, then the requested  Borrowing shall be (A) in the case of a Borrowing denominated in Dollars, an ABR Borrowing  and (B) in the case of a Borrowing denominated in an Alternative Currency, the applicable RFR  Borrowing or Term Benchmark Borrowing.  If no Interest Period is specified with respect to any  requested Term Benchmark 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 Revolving Facility Administrative Agent shall advise  

 

  100    3141/80492-001 CURRENT/130883173v17  #95685245v21   each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of  the requested Borrowing.  Notwithstanding the foregoing, in no event shall a Borrower be permitted to request pursuant to  this Section 2.03, a Canadian Prime Loan, a CBR Loan or, with respect to any Term Loans prior  to the applicable Benchmark Replacement Date, a Daily Simple SOFR Loan (it being understood  and agreed that the Canadian Prime Rate, a Central Bank Rate and, with respect to any Term  Loans, Daily Simple SOFR shall only apply to the extent provided in Section 2.14).  Section 2.04 Swingline Loans.  (a) Subject to the terms and conditions set forth  herein, the Swingline Lender may, in its sole discretion, make Swingline Loans to either  Borrower from time to time during the Revolving Availability Period, in an aggregate principal  amount at any time outstanding that will not result in (i) the aggregate principal amount of  outstanding Swingline Loans exceeding $30,000,000 or (ii) the aggregate amount of the  Revolving Exposure exceeding the aggregate amount of the Revolving Commitments.  Within  the foregoing limits and subject to the terms and conditions set forth herein, the applicable  Borrower may borrow, prepay and reborrow Swingline Loans.  (b) To request a Swingline Loan, the applicable Borrower shall notify the Revolving  Facility Administrative Agent of such request by telephone (confirmed by telecopy), not later than  12:00 noon, New York City time, on the day of a proposed Swingline Loan.  Each such notice  shall be irrevocable and shall specify the requested date (which shall be a Business Day) and  amount of the requested Swingline Loan.  The Revolving Facility Administrative Agent will  promptly advise the Swingline Lender of any such notice received from any Borrower.  The  Swingline Lender shall either (i) notify the applicable Borrower that it has elected not to make  such Swingline Loan or (ii) make each Swingline Loan available to the applicable Borrower by  means of a credit to the general deposit account of the applicable Borrower with the Swingline  Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an LC  Disbursement as provided in Section 2.05(e), by remittance to the Issuing Bank), in each case by  3:00 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 Revolving Facility  Administrative Agent not later than 10:00 a.m., 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 amount of Swingline Loans  in which Lenders will participate.  Promptly upon receipt of such notice, the Revolving Facility  Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice  such Revolving Lender’s Applicable Percentage of such Swingline Loan or Loans.  Each  Revolving Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided  above, to pay to the Revolving Facility Administrative Agent, for the account of the Swingline  Lender, such Revolving Lender’s Applicable Percentage of such Swingline Loan or Loans.  Each  Revolving Lender 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 Event  of Default or reduction or termination of the 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  

 

  101    3141/80492-001 CURRENT/130883173v17  #95685245v21   available funds, in the same manner as provided in Section 2.07 with respect to Loans made by  such Revolving Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations  of the Revolving Lenders), and the Revolving Facility Administrative Agent shall promptly pay  to the Swingline Lender the amounts so received by it from the Revolving Lenders.  The Revolving  Facility 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 Revolving Facility Administrative Agent and not to the  Swingline Lender.  Any amounts received by the Swingline Lender from the applicable Borrower  (or other party on behalf of the applicable 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 Revolving Facility Administrative Agent; any such amounts received by the  Revolving Facility Administrative Agent shall be promptly remitted by the Revolving Facility  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 Revolving Facility  Administrative Agent, as applicable, if and to the extent such payment is required to be refunded  to the applicable Borrower for any reason.  The purchase of participations in a Swingline Loan  pursuant to this paragraph shall not relieve the applicable Borrower of any default in the payment  thereof.    Section 2.05 Letters of Credit.   (a) General.  Upon satisfaction of the express conditions specified in Amendment No.  3 on or prior to the Amendment No. 3 Effective Date, each Existing Letter of Credit will,  automatically and without any action on the part of any Person, be deemed to be a Letter of Credit  issued under the Revolving Facility for all purposes of this Agreement and the other Loan  Documents.  Subject to the terms and express conditions set forth herein, the U.S. Borrower may  request the issuance of and the Issuing Bank may, in its sole discretion, issue standby Letters of  Credit for its own account (or, so long as the U.S. Borrower is the primary obligor, for the account  of any Subsidiary), in a form reasonably acceptable to the Issuing Bank, at any time and from time  to time prior to the date thirty (30) days prior to the end of the Revolving Availability Period.  (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions.    (i) To request the issuance of a Letter of Credit (or the amendment,  renewal or extension of an outstanding Letter of Credit), the U.S. Borrower  shall hand deliver or telecopy (or transmit by electronic communication  reasonably acceptable to the Issuing Bank) to the Issuing Bank and the  Revolving Facility Administrative Agent (not later than 12:00 p.m., New York  City time, at least three (3) Business Days in advance, or a shorter time period  if approved by the Issuing Bank in its reasonable discretion, 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  

 

  102    3141/80492-001 CURRENT/130883173v17  #95685245v21   to be denominated, the name and address of the beneficiary thereof, the  documents to be presented by such beneficiary in case of any drawing  thereunder, the full text of any certificate to be presented by such beneficiary in  case of any drawing thereunder, such other matters as the Issuing Bank may  reasonably require and such other information as shall be necessary to prepare,  amend, renew or extend such Letter of Credit.  If requested by the Issuing Bank,  the U.S. Borrower also shall submit a letter of credit application on the Issuing  Bank’s standard form in connection with any request for a Letter of Credit.  A  Letter of Credit shall be issued, amended, renewed or extended only if, after  giving effect to such issuance, amendment, renewal or extension, (i) the LC  Exposure shall not exceed the LC Sublimit, (ii) the Alternative Currency LC  Exposure shall not exceed the Alternative Currency LC Sublimit, and (iii) the  aggregate Revolving Exposure shall not exceed the aggregate Revolving  Commitments.  (ii) Promptly after receipt of any such request pursuant to Section  2.05(b)(i), the Issuing Bank will confirm with the Revolving Facility  Administrative Agent (by telephone or in writing) that the Revolving Facility  Administrative Agent has received a copy of such request from the U.S.  Borrower and, if not, the Issuing Bank will provide the Revolving Facility  Administrative Agent with a copy thereof.  Unless the Issuing Bank has  received written notice from any Revolving Lender, the Revolving Facility  Administrative Agent or any Loan Party, at least one Business Day prior to the  requested date of issuance or amendment of the applicable Letter of Credit, that  one or more applicable express conditions contained in Section 4.02 shall not  then be satisfied, then, subject to the terms and express conditions hereof, the  Issuing Bank may in its sole discretion, on the requested date, issue a Letter of  Credit for the account of the U.S. Borrower (or the applicable Subsidiary) or  enter into the applicable amendment, as the case may be, in each case in  accordance with the Issuing Bank’s usual and customary business practices.   Immediately upon the issuance of each Letter of Credit, each Revolving Lender  shall be deemed to, and hereby irrevocably and unconditionally agrees to,  purchase from the Issuing Bank a risk participation in such Letter of Credit in  an amount equal to the product of such Revolving Lender’s Applicable  Percentage times the amount of such Letter of Credit.  (iii)The Issuing Bank shall not be under any obligation to issue or renew  any Letter of Credit if:  (A) any order, judgment or decree of any Governmental Authority or  arbitrator shall by its terms enjoin or restrain the Issuing Bank from issuing the  Letter of Credit, or any law applicable to the Issuing Bank or any request or  directive (whether or not having the force of law) from any Governmental  Authority with jurisdiction over the Issuing Bank shall prohibit, or request that the  Issuing Bank refrain from, the issuance of letters of credit generally or the Letter of  Credit in particular or shall impose upon the Issuing Bank with respect to the Letter  

 

  103    3141/80492-001 CURRENT/130883173v17  #95685245v21   of Credit any restriction, reserve or capital requirement (for which the Issuing Bank  is not otherwise compensated hereunder) in each case not in effect on the  Restatement Date, or shall impose upon the Issuing Bank any unreimbursed loss,  cost or expense which was not applicable on the Restatement Date (for which the  Issuing Bank is not otherwise compensated hereunder);  (B) the issuance of such Letter of Credit would violate (x) any laws  binding upon or otherwise applicable to the Issuing Bank or (y) one or more policies  of the Issuing Bank regarding completion of customary “know your customer”  requirements on the beneficiary of such Letter of Credit and any Subsidiary of the  U.S. Borrower that is a co-applicant for such Letter of Credit;   (C) the Letter of Credit is to be denominated in a currency other than  Dollars or an Alternative Currency, unless otherwise agreed by the Issuing Bank  and the Revolving Facility Administrative Agent;  (D) it is not required to do so pursuant to Section 2.22(c); or  (E) the date of issuance of such Letter of Credit is on or after thirty (30)  days prior to the Revolving Maturity Date.  (iv) The Issuing Bank shall be under no obligation to amend any Letter  of Credit if (A) the Issuing Bank would have no obligation at such time to issue  the Letter of Credit in its amended form under the terms hereof, or (B) the  beneficiary of the Letter of Credit does not accept the proposed amendment to  the Letter of Credit.  (v) The Issuing Bank shall act on behalf of the Revolving Lenders with  respect to any Letters of Credit issued by it and the documents associated  therewith, and the Issuing Bank shall have all of the benefits and immunities  (A) provided to the Revolving Facility Administrative Agent in Article VIII  with respect to any acts taken or omissions suffered by the Issuing Bank in  connection with Letters of Credit issued by it or proposed to be issued by it and  any Letter of Credit Application pertaining to such Letters of Credit as fully as  if the term “Revolving Facility Administrative Agent” as used in Article VIII  included the Issuing Bank with respect to such acts or omissions, and (B) as  additionally provided herein with respect to the Issuing Bank.  (vi) Promptly after its delivery of any Letter of Credit or any amendment  to a Letter of Credit to an advising bank with respect thereto or to the  beneficiary thereof, the Issuing Bank will also deliver to the U.S. Borrower and  the Revolving Facility Administrative Agent a true and complete copy of such  Letter of Credit or amendment.  (c) Expiration Date.  Each Letter of Credit shall expire at or prior to the close of  business on the earlier of (i) the date that is one year after the date of the issuance of such Letter  of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or  

 

  104    3141/80492-001 CURRENT/130883173v17  #95685245v21   extension) and (ii) the Letter of Credit Expiration Date, provided if the U.S. Borrower so requests  in any applicable Letter of Credit Application, the Issuing Bank shall agree to issue a standby  Letter of Credit that has automatic renewal provisions (each, an “Auto-Renewal Letter of Credit”);  provided that any such Auto-Renewal Letter of Credit must permit the Issuing Bank to prevent  any such renewal at least once in each twelve-month period (commencing with the date of issuance  of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the  “Nonrenewal Notice Date”) in each such twelve-month period to be agreed upon at the time such  Letter of Credit is issued.  Unless otherwise directed by the Issuing Bank, the U.S. Borrower shall  not be required to make a specific request to the Issuing Bank for any such renewal.  Once an  Auto-Renewal Letter of Credit has been issued, the Revolving Lenders shall be deemed to have  authorized (but may not require) the Issuing Bank to permit the renewal of such Letter of Credit  at any time to an expiry date not later than the Letter of Credit Expiration Date; provided that the  Issuing Bank shall not permit any such renewal if (A) the Issuing Bank has determined that it  would have no obligation at such time to issue such Letter of Credit in its renewed form under the  terms hereof (by reason of the provisions of Section 2.05(b)(ii) or otherwise), or (B) it has received  notice (which may be by telephone, followed promptly in writing, or in writing) on or before the  day that is thirty (30) days before the Nonrenewal Notice Date from the Revolving Facility  Administrative Agent or any Revolving Lender, as applicable, or the U.S. Borrower that one or  more of the applicable express conditions specified in Section 4.02 is not then satisfied (or waived),  and provided further that, if agreed to by the Issuing Bank in its sole discretion, a Letter of Credit  may, upon the request of the U.S. Borrower, be renewed for a period beyond the date that is the  Revolving Maturity Date if, at the time of such request or such other time as may be agreed by the  Issuing Bank, such Letter of Credit has become subject to Cash Collateralization or other  arrangements satisfactory to the Issuing Bank.  (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 Issuing  Bank or the Revolving Lenders, the Issuing Bank hereby grants to each Revolving Lender, and  each Revolving Lender hereby acquires from the Issuing Bank, a participation in such Letter of  Credit equal to such Revolving Lender’s Applicable Percentage of the aggregate amount available  to be drawn under such Letter of Credit.  In consideration and in furtherance of the foregoing, (x)  each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Revolving  Facility Administrative Agent, for the account of the Issuing Bank, in Dollars, such Revolving  Lender’s Applicable Percentage of (i) each LC Disbursement in respect of any Letter of Credit  made by the Issuing Bank in Dollars and (ii) the Dollar Equivalent, using the Exchange Rate on  the date such payment is required, of each LC Disbursement in respect of any Letter of Credit  made by the Issuing Bank in an Alternative Currency and, in each case, not reimbursed by the U.S.  Borrower on the date due as provided in Section 2.05(e), or of any reimbursement payment  required to be refunded to the U.S. Borrower for any reason.  Each Revolving Lender  acknowledges and agrees that 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  or the occurrence and continuance of a Default or reduction or termination of the Commitments,  and that each such payment shall be made without any offset, abatement, withholding or reduction  whatsoever.  

 

  105    3141/80492-001 CURRENT/130883173v17  #95685245v21   (e) Reimbursement.  If the Issuing Bank shall honor a Letter of Credit drawing  presented under a Letter of Credit, the U.S. Borrower shall reimburse such LC Disbursement  honored by paying to the Revolving Facility Administrative Agent an amount equal to the Dollar  Equivalent, calculated using the Exchange Rate when such payment is due, of such LC  Disbursement in Dollars not later than 1:00 p.m., New York City time, on the first Business Day  succeeding the date on which the Issuing Bank notifies the U.S. Borrower in writing of such Letter  of Credit honoring, provided that, if such LC Disbursement is not less than $500,000, the U.S.  Borrower may, subject to the express conditions to borrowing set forth herein, request in  accordance with Section 2.03 that such payment be financed with a Revolving Loan Borrowing or  Swingline Loan of the same Class in an amount equal to the Dollar Equivalent, calculated using  the Exchange Rate on the date when such payment is due, of such LC Disbursement and, to the  extent so financed, the U.S. Borrower’s obligation to make such reimbursement payment shall be  discharged and replaced by the resulting Revolving Loan Borrowing or Swingline Loan.  If the  U.S. Borrower fails to make such payment when due, then the Revolving Facility Administrative  Agent shall notify each Revolving Lender of the Dollar Equivalent of the applicable LC  Disbursement, the payment then due from the U.S. Borrower in respect thereof and such Revolving  Lender’s Applicable Percentage thereof.  Promptly following receipt of such notice, each  Revolving Lender shall pay to the Revolving Facility Administrative Agent in Dollars its  Applicable Percentage of the Dollar Equivalent of the payment then due from the U.S. Borrower  (such payment from such Revolving Lender to be made on demand with interest thereon for the  period from the date such payment is required to the date on which such payment is immediately  available to the Revolving Facility Administrative Agent at a rate per annum equal to the greater  of the Federal Funds Effective Rate and a rate determined by the Revolving Facility Administrative  Agent in accordance with banking industry rules on interbank compensation, plus any  administrative, processing or similar fees customarily charged by such Issuing Bank in connection  with the foregoing), in the same manner as provided in Section 2.06 with respect to Loans made  by such Revolving Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment  obligations of the Revolving Lender), and the Revolving Facility Administrative Agent shall  promptly pay to the Issuing Bank the amounts so received by it from the Revolving Lender.   Promptly following receipt by the Revolving Facility Administrative Agent of any payment from  the U.S. Borrower pursuant to this paragraph, such Administrative Agent shall distribute such  payment to the Issuing Bank or, to the extent that Revolving Lenders have made payments pursuant  to this paragraph to reimburse the Issuing Bank, then to such Revolving Lenders and the Issuing  Bank as their interests may appear.  Any payment made by a Revolving Lender pursuant to this  paragraph to reimburse the Issuing Bank for any LC Disbursement (other than the funding of  Revolving Loans or a Swingline Loan as contemplated above) shall not constitute a Loan and shall  not relieve the U.S. Borrower of its obligation to reimburse such LC Disbursement.  (f) Repayment of Participations.  (i) At any time after the Issuing Bank has made an LC Disbursement  and has received from any Revolving Lender such Revolving Lender’s payment  in respect of such LC Disbursement pursuant to Section 2.05(e), if the  Revolving Facility Administrative Agent receives for the account of the Issuing  Bank any payment in respect of the related LC Disbursement or interest thereon  (whether directly from the U.S. Borrower or otherwise, including proceeds of  

 

  106    3141/80492-001 CURRENT/130883173v17  #95685245v21   Cash Collateral applied thereto by the Revolving Facility Administrative Agent  in accordance with this Agreement), such Administrative Agent will distribute  in Dollars to such Revolving Lender the Dollar Equivalent of its Applicable  Percentage thereof.  (ii) If any payment received by the Revolving Facility Administrative  Agent for the account of the Issuing Bank pursuant to Section 2.05(e) is  required to be returned under any of the circumstances described in Section 9.08  (including pursuant to any settlement entered into by the Issuing Bank in its  discretion), each Revolving Lender shall pay to such Administrative Agent for  the account of the Issuing Bank in Dollars the Dollar Equivalent of its  Applicable Percentage thereof on demand of such Administrative Agent, plus  interest thereon from the date of such demand to the date such amount is  returned by such Revolving Lender, at a rate per annum equal to the Federal  Funds Effective Rate from time to time in effect.  The obligations of the Lenders  under this clause (ii) shall survive the payment in full of the Obligations and the  termination of this Agreement.  (g) Obligations Absolute.  The U.S. Borrower’s obligations to reimburse LC  Disbursements as provided in paragraph (e) of this Section shall be 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 or this Agreement, or any term or provision 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 any respect, (iii) payment by the  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 adverse change in the relevant  exchange rates or in the availability of the relevant Alternative Currency to the U.S. Borrower or  any of its Restricted Subsidiaries or in the relevant currency markets generally, 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, the U.S. Borrower’s obligations hereunder (other than the defense of payment or  performance). Neither the Revolving Facility Administrative Agent, the Lenders nor the Issuing  Bank, nor 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 or any payment or failure to make  any payment thereunder (irrespective of any of the circumstances referred to in the preceding  sentence), or 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 consequence arising from causes beyond the control of the Issuing Bank, provided that the  foregoing shall not be construed to excuse the Issuing Bank from liability to the U.S. Borrower to  the extent of any direct damages (as opposed to consequential or punitive damages, claims in  respect of which are hereby waived by the U.S. Borrower to the extent permitted by applicable  law) suffered by the U.S. Borrower that are caused by the 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 bad faith, gross  

 

  107    3141/80492-001 CURRENT/130883173v17  #95685245v21   negligence, material breach of its obligations as an Issuing Bank hereunder, or willful misconduct  on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction) and  compliance by the Issuing Bank with the applicable standards of care set forth in the Uniform  Commercial Code in the State of New York, the Issuing Bank shall be deemed to have exercised  care in each such determination as Issuing Bank.  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 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, and any such acceptance or refusal shall be  deemed not to constitute bad faith, gross negligence or willful misconduct.  (h) Disbursement Procedures.  The Issuing Bank shall, promptly following its receipt  thereof, examine all documents purporting to represent a demand for payment under a Letter of  Credit.  The Issuing Bank shall promptly notify the Revolving Facility Administrative Agent and  the U.S. Borrower of such demand for payment and whether the 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 U.S. Borrower of its obligation to reimburse the Issuing Bank and the  Revolving Lenders with respect to any such LC Disbursement in accordance with Section 2.05(e).  (i) Interim Interest.  If the Issuing Bank shall make any LC Disbursement, then, unless  the U.S. Borrower shall reimburse such LC Disbursement in full as set forth in Section 2.05(e),  the unpaid amount thereof shall bear interest, for each day from and including the first Business  Day after receipt of notice to but excluding the date that the U.S. Borrower reimburses such LC  Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if  the U.S. Borrower fails to reimburse such LC Disbursement when due pursuant to Section 2.05(e),  then Section 2.13(c) shall apply.  Interest accrued pursuant to this paragraph shall be for the  account of the Issuing Bank, except that interest accrued on and after the date of payment by any  Revolving Lender pursuant to Section 2.05(e) to reimburse the Issuing Bank shall be for the  account of such Lender to the extent of such payment.  (j) Role of Issuing Bank.  Each Lender and the U.S. Borrower agree that, in paying  any drawing under a Letter of Credit, the Issuing Bank shall not have any responsibility to obtain  any document (other than any sight draft, certificates and documents expressly required by the  Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or  the authority of the Person executing or delivering any such document.  None of the Issuing Bank,  the Revolving Facility Administrative Agent, any of their respective Related Parties nor any  correspondent, participant or assignee of the Issuing Bank shall be liable to any Lender for (i) any  action taken or omitted in connection herewith at the request or with the approval of the Revolving  Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of  gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or  enforceability of any document or instrument related to any Letter of Credit or Letter of Credit  Application.  The U.S. Borrower hereby assumes all risks of the acts or omissions of any  beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that  this assumption is not intended to, and shall not, preclude the U.S. Borrower from pursuing such  

 

  108    3141/80492-001 CURRENT/130883173v17  #95685245v21   rights and remedies as it may have against the beneficiary or transferee at law or under any other  agreement.  (k) Replacement of the Issuing Bank.  The Issuing Bank may be replaced at any time  by written agreement among the U.S. Borrower, the Revolving Facility Administrative Agent, the  replaced Issuing Bank and the successor Issuing Bank. The Revolving Facility Administrative  Agent shall notify the Lenders of any replacement of an Issuing Bank.  At the time any such  replacement shall become effective, the U.S. Borrower shall pay all unpaid fees accrued for the  account of the replaced Issuing Bank pursuant to Section 2.12(c).  From and after the effective  date of any such replacement, (i) the successor Issuing Bank shall have all the rights and  obligations of the 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, but shall not be required to issue additional Letters of Credit.  (l) Notwithstanding that a Letter of Credit issued or outstanding hereunder is in  support of any obligations of, or is for the account of, the U.S. Borrower or any Subsidiary, the  U.S. Borrower shall be obligated to reimburse the applicable Issuing Bank hereunder for any and  all drawings under such Letter of Credit. The U.S. Borrower hereby acknowledges that the  issuance of Letters of Credit for the account of the U.S. Borrower and/or any Subsidiaries of the  U.S. Borrower inures to the benefit of the U.S. Borrower, and that the U.S. Borrower’s business  derives substantial benefits from the businesses of such Subsidiaries.  (m) Applicability of ISP and UCP.  Unless otherwise expressly agreed by the Issuing  Bank and the U.S. 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 Uniform Customs and Practice for Documentary Credits, as most  recently published by the International Chamber of Commerce at the time of issuance, shall apply  to each commercial Letter of Credit  (n) Conflict with Letter of Credit Application.  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 the U.S. Borrower to, or entered into  by the U.S. Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and  conditions of this Agreement shall control, and any grant of a security interest in any form of Letter  of Credit Application or other agreement shall be null and void.  (o) Provisions Related to Extended Revolving Commitments.  If, after the date hereof,  there shall be more than one tranche of Revolving Commitments, and if the maturity date in respect  of any tranche of Revolving Commitments occurs prior to the expiration of any Letter of Credit,  then (i) if one or more other tranches of Revolving Commitments in respect of which the maturity  date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed  to have been issued (including for purposes of the obligations of the Revolving Lenders to purchase  participations therein and to make Revolving Loans and payments in respect thereof pursuant to  

 

  109    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 2.05(c)) under (and ratably participated in by Lenders pursuant to) the Revolving  Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed  the aggregate principal amount of the unutilized Revolving Commitments thereunder at such time  (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and  (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the U.S. Borrower  shall Cash Collateralize any such Letter of Credit in accordance with Section 2.05(c) or otherwise  backstop such Letter of Credit on terms reasonably satisfactory to the Issuing Bank.  If, for any  reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving  Lenders under the maturing tranche shall continue to be responsible for their participating interests  in the Letters of Credit.  Except to the extent of reallocations of participations pursuant to clause  (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given  tranche of Revolving Commitments shall have no effect upon (and shall not diminish) the  percentage participations of the Revolving Lenders in any Letter of Credit issued before such  maturity date.  Commencing with the maturity date of any tranche of Revolving Commitments,  the sublimit for Letters of Credit shall be agreed with the Lenders under the extended tranches.  (p) Addition of an Issuing Bank.  A Revolving Lender (or any of its Subsidiaries or  Affiliates) may become an additional Issuing Bank hereunder pursuant to a written agreement  among the U.S. Borrower, the Revolving Facility Administrative Agent and such Revolving  Lender.  The Revolving Facility Administrative Agent shall notify the Revolving Lenders of any  such additional Issuing Bank.  Section 2.06 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 by (i) 1:00 p.m., New York City time,  in the case of a Term Benchmark Borrowing or RFR Borrowing denominated in Dollars for which  notice has been provided by 11:00 a.m., New York City time, at least two (2) Business Days prior  to the date of the proposed Borrowing, (ii) 8:00 a.m., New York City time, in the case of any  Borrowings denominated in an Alternative Currency, or (iii) 3:00 p.m., New York City time, in  the case of an ABR Borrowing for which notice has been provided by 12:00 p.m., New York City  time, on the date of the proposed Borrowing, in each case to the account of the applicable  Administrative 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 2.04.  The applicable  Administrative Agent will make such Loans available to the applicable Borrower by wire transfer  of the amounts so received, in immediately available funds, to an account of such Borrower, in  each case 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 2.05(e) shall be remitted by the Revolving Facility Administrative Agent to the Issuing  Bank or, to the extent that Revolving Lenders have made payments pursuant to Section 2.05(e) to  reimburse the Issuing Bank, then to such Revolving Lenders and the Issuing Bank as their interests  may appear.  (b) Unless the applicable Administrative Agent shall have received notice from a  Lender prior to the proposed time of any Borrowing that such Lender will not make available to  such Administrative Agent such Lender’s share of such Borrowing, such Administrative Agent  may assume that such Lender has made such share available on such date in accordance with  

 

  110    3141/80492-001 CURRENT/130883173v17  #95685245v21   paragraph (a) of this Section and may, in reliance upon such assumption and in its sole discretion,  make available to the applicable Borrower a corresponding amount.  In such event, after giving  effect to the reallocations pursuant to Section 2.22(a)(iv), if a Lender has not in fact made its share  of the applicable Borrowing available to the applicable Administrative Agent, then the applicable  Lender and the applicable Borrower severally agree to pay to such Administrative Agent, within  three (3) Business Days of written notice, 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 such Administrative Agent, at (i) in the case of such Lender,  (A) if such Borrowing is denominated in Dollars, the greater of the Federal Funds Effective Rate  and a rate determined by such Administrative Agent in accordance with banking industry rules on  interbank compensation and (B) if such Borrowing is denominated in an Alternative Currency, the  rate reasonably determined in accordance with customary practices by the Revolving Facility  Administrative Agent to be the cost to it of funding such amount, or (ii) in the case of such  Borrower, the interest rate applicable to ABR Loans.  If such Lender pays such amount to such  Administrative Agent, then such amount shall constitute such Lender’s Loan included in such  Borrowing.  (c) Each of the applicable Administrative Agent, the Issuing Bank and each Lender at  its option may make any Loan or otherwise perform its obligations hereunder through any office  or offices of such Person described as such in such Person’s Administrative Questionnaire, or such  other office or offices as such Person may from time to time notify the U.S. Borrower and the  applicable Administrative Agent; which office may include any Affiliate of such Person or any  domestic or foreign branch of such Person or such Affiliate (each, a “Designated Lender”);  provided that any exercise of such option shall not affect the obligation of such Borrower to repay  any Loan in accordance with the terms of this Agreement.  Any Designated Lender shall be  considered a Lender; provided that in the case of an Affiliate or branch of a Lender, all provisions  applicable to a Lender shall apply to such Affiliate or branch of such Lender to the same extent as  such Lender; provided that in no event may a Disqualified Lender become a Designated Lender  (but, for the avoidance of doubt, this shall be without prejudice to Section 2.17(j) and shall not  apply to deem such Affiliate or branch to have the same status as the Lender for the purposes of  the “U.K. Qualifying Lender” definition).  Section 2.07 Interest Elections.    (a) Each Revolving Loan Borrowing and Term Loan Borrowing initially shall be of  the Type specified in the applicable Borrowing Request or designated by Section 2.03 and, in the  case of a Term Benchmark Revolving Borrowing, shall have an initial Interest Period as specified  in such Borrowing Request or designated by Section 2.03.  Thereafter, a Borrower may elect to  convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a  Term Benchmark Revolving Borrowing, may elect Interest Periods therefor, all as provided in this  Section, provided that no Borrower may elect to convert any Borrowing denominated in an  Alternative Currency to an ABR Borrowing and may not change the currency of any Borrowing.   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  

 

  111    3141/80492-001 CURRENT/130883173v17  #95685245v21   be considered a separate Borrowing.  This Section shall not apply to Swingline Loans, which may  not be converted or continued.  (b) To make an election pursuant to this Section, the applicable Borrower shall notify  the Revolving Facility Administrative Agent of such election by telephone by the time that a  Borrowing Request would be required under Section 2.03 if such Borrower were requesting a  Revolving Loan Borrowing of the Type resulting from such election to be made on the effective  date of such election.  Each such telephonic Interest Election Request shall be confirmed promptly  by hand delivery or telecopy to the Revolving Facility Administrative Agent of a written Interest  Election Request substantially in the form of Exhibit B and signed by the applicable Borrower.  (c) Each telephonic and written Interest Election Request shall specify the following  information in compliance with Section 2.03:   (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 (in the  case of Borrowings denominated in Dollars) or a Term Benchmark Borrowing  or an RFR Borrowing; and  (iv) if the resulting Borrowing is a Term Benchmark 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 Term Benchmark 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.  (d) Promptly following receipt of an Interest Election Request, the Revolving Facility  Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion  of each resulting Borrowing.  (e) If a Borrower fails to deliver a timely Interest Election Request with respect to a  Term Benchmark Borrowing prior to the end of the Interest Period applicable thereto, then, unless  such Borrowing is repaid as provided herein, at the end of such Interest Period (i) if such  Borrowing is denominated in Dollars, such Borrowing shall be converted to an ABR Borrowing  and (ii) if such Borrowing is denominated in an Alternative Currency, such Borrowing shall  continue as a Term Benchmark Borrowing with an Interest Period of one month .  Notwithstanding  any contrary provision hereof, if an Event of Default under Sections 7.01(a), 7.01(b), 7.01(h) or  

 

  112    3141/80492-001 CURRENT/130883173v17  #95685245v21   7.01(i) has occurred and is continuing and the Administrative Agents, at the request of the  Required Lenders, so notify the applicable Borrower, then, so long as such Event of Default is  continuing, no outstanding Borrowing may be continued for an Interest Period of more than one  month’s duration.  Notwithstanding the foregoing, in no event shall a Borrower be permitted to request pursuant to  this Section 2.07, a Canadian Prime Loan, a CBR Loan or, with respect to any Term Loans prior  to the applicable Benchmark Replacement Date, a Daily Simple SOFR Loan (it being understood  and agreed that the Canadian Prime Rate, a Central Bank Rate and, with respect to any Term  Loans, Daily Simple SOFR shall only apply to the extent provided in Section 2.14).  Section 2.08 Termination and Reduction of Commitments.    (a) Unless previously terminated or extended, the Revolving Commitments shall  terminate on the Revolving Maturity Date.  (b) A Borrower may at any time, without premium or penalty, terminate, or from time  to time reduce, the Commitments of any Class, provided that (i) each reduction of the  Commitments of any Class shall be in an amount that is an integral multiple of $1,000,000 and not  less than $5,000,000 and (ii) such Borrower shall not terminate or reduce any Class of Revolving  Commitments to the extent that, after giving effect to any concurrent prepayment of the Revolving  Loans of such Class in accordance with Section 2.11, the aggregate Revolving Exposure  (calculated using the Exchange Rate in effect as of the date of the proposed termination or  reduction) of such Class (excluding the portion of the Revolving Exposure attributable to  outstanding Letters of Credit if and to the extent that the U.S. Borrower has Cash Collateralized  such Letters of Credit or made other arrangements satisfactory to the Issuing Bank with respect to  such Letters of Credit) would exceed the aggregate Revolving Commitments of such Class.  (c) The Borrowers shall notify the Revolving Facility Administrative Agent of any  election to terminate or reduce the Commitments under paragraph (b) of this Section at least one  Business Day 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 Revolving  Facility Administrative Agent shall advise the Lenders of the contents thereof.  Each notice  delivered by the Borrowers pursuant to this Section shall be irrevocable, provided that a notice of  termination of the Commitments of any Class delivered by such Borrower may state that such  notice is conditioned upon the consummation of an acquisition or sale transaction or upon the  effectiveness of other credit facilities or the receipt of proceeds from the issuance of other  Indebtedness or any other specified event, in which case such notice may be revoked by such  Borrower (by notice to the Revolving Facility Administrative Agent on or prior to the specified  effective date) if such condition is not satisfied.  Any termination or reduction of the Commitments  of any Class shall be permanent.  Each reduction of the Commitments of any Class shall be made  ratably among the Lenders in accordance with their respective Commitments of such Class.  (d) The Borrowers, in their discretion, shall have the right, but not the obligation, at  any time so long as no Event of Default has occurred and is continuing, upon at least one Business  Day’s notice to a Defaulting Lender (with a copy to the Revolving Facility Administrative Agent),  to terminate in whole such Defaulting Lender’s Commitment; provided that, after giving effect to  

 

  113    3141/80492-001 CURRENT/130883173v17  #95685245v21   such termination, the aggregate Revolving Exposure of all Revolving Lenders does not exceed the  aggregate Revolving Commitments.  Such termination shall be effective with respect to such  Defaulting Lender’s unused portion of its Commitment on the date set forth in such notice. Subject  to Section 9.19, no termination of the Commitment of a Defaulting Lender shall be deemed a  waiver or release of any claim any Borrower, the Revolving Facility Administrative Agent, the  Issuing Bank or any Lender may have against the Defaulting Lender.  Section 2.09 Repayment of Loans; Evidence of Debt.    (a) The U.K. Borrower unconditionally promises to pay to the Tranche A Term Loan  Administrative Agent for the account of each Tranche A-1 Term Lender the then unpaid principal  amount of each Tranche A-1 Term Loan of such Tranche A-1 Term Lender as provided in Section  2.10(a)(i). The U.S. Borrower unconditionally promises to pay to the Tranche A Term Loan  Administrative Agent for the account of each Tranche A-2 Term Lender the then unpaid principal  amount of each Tranche A-2 Term Loan of such Tranche A-2 Term Lender as provided in Section  2.10(a)(i). Each Borrower unconditionally promises to pay to the Revolving Facility  Administrative Agent for the account of each Revolving Lender the then unpaid principal amount  of each Revolving Loan of such Revolving Lender made to such Borrower on the Revolving  Maturity Date.  Each Borrower hereby unconditionally promises to pay to the Swingline Lender  the then unpaid principal amount of each Swingline Loan made to such Borrower on the earlier of  the Maturity Date and the first date after such Swingline Loan is made that is the 15th or last day  of a calendar month and is at least two (2) Business Days after such Swingline Loan is made;  provided that on each date that a Revolving Borrowing is made, each Borrower shall repay all  Swingline Loans then outstanding to such Borrower.  (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 to such Borrower, including the amounts of principal and interest payable  and paid to such Lender from time to time hereunder.  (c) The applicable Administrative Agent shall maintain accounts in which it shall  record (i) the amount of each Loan made hereunder to each Borrower, 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 such Administrative Agent hereunder from each Borrower 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 the applicable Administrative Agent to maintain  such accounts or any error therein shall not in any manner affect the obligation of any Borrower  to repay the Loans made to such Borrower and pay interest thereon in accordance with the terms  of this Agreement.  (e) Any Lender may request that Loans of any Class made by it be evidenced by a  promissory note.  In such event, the applicable Borrower shall promptly prepare, execute and  deliver to such Lender a promissory note payable to such Lender and its registered assigns and  

 

  114    3141/80492-001 CURRENT/130883173v17  #95685245v21   substantially in the form of the applicable Exhibit F, provided that, except as set forth in Section  4.01(a)(C), the delivery of any such note shall not be a condition precedent to the Restatement  Date or any Acquisition or Investment.  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 (and ownership shall at all times be recorded in the Register).  Section 2.10 Amortization of Term Loans.    (a) (i) Subject to adjustment pursuant to paragraph (b) of this Section and subject to  paragraph (i) of Section 2.11, the U.K. Borrower shall repay the Tranche A-1 Term Loans on each  date set forth below in an aggregate principal amount equal to the percentage set forth below  opposite such date, in each case representing the applicable percentage of the aggregate principal  amount of Initial Tranche A-1 Term Loans and the U.S. Borrower shall repay the Tranche A-2  Term Loans on each date set forth below in an aggregate principal amount equal to the percentage  set forth below opposite such date, in each case representing the applicable percentage of the  aggregate principal amount of Initial Tranche A-2 Term Loans:  Date Tranche A-1 Term  Loan Amount  Tranche A-2 Term  Loan Amount  September 30, 2022 0.625% 0.625%  December 31, 2022 0.625% 0.625%  March 31, 2023 0.625% 0.625%  June 30, 2023 0.625% 0.625%  September 30, 2023 0.625% 0.625%  December 31, 2023 0.625% 0.625%  March 31, 2024 0.625% 0.625%  June 30, 2024 0.625% 0.625%  September 30, 2024 0.625% 0.625%  December 31, 2024 0.625% 0.625%  March 31, 2025 0.625% 0.625%  June 30, 2025 0.625% 0.625%  September 30, 2025 1.25% 1.25%  December 31, 2025 1.25% 1.25%  March 31, 2026 1.25% 1.25%  June 30, 2026 1.25% 1.25%  September 30, 2026 1.25% 1.25%  

 

  115    3141/80492-001 CURRENT/130883173v17  #95685245v21   Date Tranche A-1 Term  Loan Amount  Tranche A-2 Term  Loan Amount  December 31, 2026 1.25% 1.25%  March 31, 2027 1.25% 1.25%  Tranche A Term Loan  Maturity Date  Any and all then- outstanding Tranche  A-1 Term Loans.  Any and all then- outstanding Tranche  A-2 Term Loans.    provided that, notwithstanding anything to the contrary herein, at the discretion of the U.S.  Borrower and the U.K. Borrower, the U.S. Borrower and the U.K. Borrower may on any  date provided above allocate all or a portion of the aggregate amount due on Tranche A-1  Term Loans to prepay an additional amount of Tranche A-2 Term Loans, or vice versa (in  each case with the amounts so reallocated determined at the Dollar Equivalent thereof on  the date of such prepayment) so long as the aggregate principal amount so prepaid is not  less than the aggregate amount due (as so determined) as provided above for such date for  both such Tranches.     (ii) Without limiting the foregoing, to the extent not previously paid, all  Term Loans shall be due and payable on the applicable Term Loan Maturity  Date.  (b) Any prepayment of a Term Loan Borrowing of any Class shall be applied (i) in  the case of prepayments made pursuant to Section 2.11(a) or (e), to reduce the subsequent  scheduled repayments of the Term Loan Borrowings of such Class to be made pursuant to this  Section as directed by the applicable Borrower, or as otherwise provided in any Extension  Amendment, any Incremental Facility Amendment or Refinancing Amendment, and (ii) in the  case of prepayments made pursuant to Section 2.11(c) or Section 2.11(d), to reduce the subsequent  scheduled repayments of the Term Loan Borrowings of such Class to be made pursuant to this  Section in direct order of maturity, or as otherwise provided in any Extension Amendment, any  Incremental Facility Amendment, or Refinancing Amendment.  (c) Prior to any repayment of any Term Loan Borrowings of any Class hereunder, the  applicable Borrower shall select the Borrowing or Borrowings of the applicable Class to be repaid  and shall notify the applicable Administrative Agent by telephone (confirmed by telecopy) of such  election not later than 1:00 p.m., New York City time, on the scheduled date of such repayment.   Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid  Borrowing.  Repayments of Term Loan Borrowings shall be accompanied by accrued interest on  the amount repaid.  Section 2.11 Prepayment of Loans.    (a) The applicable Borrower shall have the right at any time and from time to time,  without premium or penalty (but subject to Section 2.16 and the following sentence), to prepay  any Borrowing of any Class in whole or in part, as selected and designated by such Borrower,  

 

  116    3141/80492-001 CURRENT/130883173v17  #95685245v21   subject to the requirements of this Section.  Each voluntary prepayment of any Loan pursuant to  this Section 2.11(a) and mandatory prepayment pursuant to Section 2.11(e) shall be made without  premium or penalty. Notwithstanding anything to the contrary in this Agreement, after any  Extension, the applicable Borrower may prepay any Borrowing of any Class of non-extended Term  Loans pursuant to which the related Extension Offer was made without any obligation to prepay  the corresponding Extended Term Loans.    (b) In the event and on such occasion that the aggregate Revolving Exposures exceed  (A) 105% of the aggregate Revolving Commitments, solely as a result of currency fluctuations or  (B) the aggregate Revolving Commitments (other than as a result of currency fluctuations), the  applicable Borrower shall prepay (no later than one (1) Business Day after written notice from the  Revolving Facility Administrative Agent to the applicable Borrower) Revolving Loan Borrowings  (or, if no such Borrowings are outstanding, deposit cash collateral in an account with such  Administrative Agent pursuant to Section 2.23) in an aggregate amount equal to the amount by  which the aggregate Revolving Exposures exceed the aggregate Revolving Commitments.   (c) Subject to paragraph (f) of this Section, in the event and on each occasion that any  Net Proceeds are received by or on behalf of the U.S. Borrower or any Restricted Subsidiary in  respect of any Prepayment Event, the Borrowers shall, within thirty (30) days in the case of any  Prepayment Event referred to in paragraph (a) or (b) of the definition of thereof, or five (5)  Business Days in the case of a Prepayment Event referred to in paragraph (c) of the definition  thereof, after such Net Proceeds are received, prepay Term Loans on a pro rata basis (except, as to  Term Loans made pursuant to an Incremental Facility Amendment or a Refinancing Amendment,  as otherwise set forth in such Incremental Facility Amendment or a Refinancing Amendment, or  as to a Replacement Term Loan), in each case in an aggregate amount equal to the Required Asset  Percentage of the amount of such Net Proceeds in the case of any Prepayment Event referred to in  paragraph (a) or (b) of the definition thereof or 100% of the amount of such Net Proceeds in the  case of any Prepayment Event referred to in paragraph (c) of the definition thereof; provided that  in the case of any such event described in clause (a) or (b) of the definition of the term “Prepayment  Event,” if the U.S. Borrower or any Restricted Subsidiary applies (or commits pursuant to a  binding contractual arrangement (including pursuant to a letter of intent) to apply) the Net  Proceeds from such event (or a portion thereof) within twelve (12) months after receipt of such  Net Proceeds to reinvest such proceeds in the business, including in assets of the general type used  or useful in the business of the U.S. Borrower and its Restricted Subsidiaries (including in  connection with an acquisition or capital expenditures), then no prepayment shall be required  pursuant to this paragraph in respect of such Net Proceeds except to the extent of any such Net  Proceeds therefrom that have not been so applied by the end of the twelve-month (or, if committed  to be so applied within 12 months of the receipt of such Net Proceeds, eighteen-month) period  following receipt of such Net Proceeds, at the end of which period a prepayment shall be required  in an amount equal to such Net Proceeds that have not been so applied; provided, further, that with  respect to any Prepayment Event referenced in paragraph (a) or (b) of the definition thereof, (i) the  Borrowers shall not be obligated to make any prepayment otherwise required by this paragraph (c)  unless and until the aggregate amount of Net Proceeds from all such Prepayment Events, after  giving effect to the reinvestment rights set forth herein, exceeds $10,000,000 (the “Prepayment  Trigger”) in any fiscal year of the U.S. Borrower, but then from all such Net Proceeds (excluding  amounts below the Prepayment Trigger) and (ii) the Borrowers may use a portion of such Net  

 

  117    3141/80492-001 CURRENT/130883173v17  #95685245v21   Proceeds to prepay or repurchase First Lien Senior Secured Notes or any other Indebtedness  secured by the Collateral on a pari passu basis with the Liens securing the Obligations (the “Other  Applicable Indebtedness”) to the extent required pursuant to the terms of the documentation  governing such Other Applicable Indebtedness, in which case, the amount of prepayment required  to be made with respect to such Net Proceeds pursuant to this Section 2.11(c) shall be deemed to  be the amount equal to the product of (x) the amount of such Net Proceeds multiplied by (y) a  fraction, the numerator of which is the outstanding principal amount of Term Loans required to be  prepaid pursuant to this paragraph (c) and the denominator of which is the sum of the outstanding  principal amount of such Other Applicable Indebtedness required to be prepaid pursuant to the  terms of the documents governing such Other Applicable Indebtedness and the outstanding  principal amount of Term Loans required to be prepaid pursuant to this paragraph;  (d) [Reserved.]  (e) If any Borrower incurs or issues (i) any Credit Agreement Refinancing  Indebtedness permitted to be incurred or issued hereunder (other than a Permitted Refinancing  thereof) or (ii) any other Indebtedness not permitted under Section 6.01, such Borrower shall, on  the same day as such incurrence or issuance pursuant to clause (i), and otherwise within five (5)  Business Days, prepay the principal amount of the corresponding Credit Agreement Refinanced  Debt (in the case of clause (i)) or each Class of Term Loans on a pro rata basis (in the case of  clause (ii)), in each case in accordance with Section 2.11(g) and in an aggregate amount the Dollar  Equivalent of which is equal to 100% of the Net Proceeds of such issuance or incurrence (which  prepayment of principal shall be accompanied by payment of accrued and unpaid interest,  premiums and fees and expenses associated with such principal amount prepaid); provided that  such prepayment shall be subject to the second sentence of Section 2.11(a).   (f) Notwithstanding any other provisions of this Section 2.11, (i) to the extent that any  or all of the Net Proceeds of any Disposition by a Foreign Subsidiary giving rise to a prepayment  pursuant to Section 2.11(c) (a “Foreign Disposition”), the Net Proceeds of any Prepayment Event  from a Foreign Subsidiary (a “Foreign Prepayment Event”) would be (x) prohibited or delayed by  applicable local law, (y) restricted by applicable organizational or constitutive documents or any  agreement or (z) subject to other onerous organizational or administrative impediments, from  being repatriated to the United States, the Borrowers shall not be required to make a prepayment  at the time provided in Section 2.11(c) and instead, such amounts may be retained by the applicable  Foreign Subsidiary (the Borrowers hereby agreeing to use reasonable efforts (as determined in the  Borrowers’ reasonable business judgment) to otherwise cause the applicable Foreign Subsidiary  to within one year following the date on which the respective payment would otherwise have been  required, promptly take all actions reasonably required by the applicable local law, applicable  organizational or constitutive impediment or other impediment to permit such repatriation), and if  within one year following the date on which the respective payment would otherwise have been  required, such repatriation of any of such affected Net Proceeds is permitted under the applicable  local law, applicable organizational or constitutive impediment or other impediment, such  repatriation will be promptly effected and such repatriated Net Proceeds will be promptly (and in  any event not later than three (3) Business Days after such repatriation could be made) applied (net  of additional taxes, costs and expenses payable or reserved against as a result thereof) (whether or  not repatriation actually occurs) to the repayment of the Term Loans pursuant to this Section 2.11  

 

  118    3141/80492-001 CURRENT/130883173v17  #95685245v21   to the extent provided herein and (ii) to the extent that the Borrowers have determined in good  faith that repatriation of any or all of the Net Proceeds of any Foreign Disposition, any Foreign  Prepayment Event would have an adverse tax cost consequence with respect to such Net Proceeds  (which for the avoidance of doubt, includes, but is not limited to, any prepayment where by doing  so the Borrowers, any Restricted Subsidiary or any of their respective affiliates and/or equity  partners would incur a tax liability, including a tax dividend, deemed dividend pursuant to Code  Section 956 or a withholding tax), the Net Proceeds so affected may be retained by the applicable  Foreign Subsidiary.  The non-application of any prepayment amounts as a consequence of the  foregoing provisions will not, for the avoidance of doubt, constitute a Default or an Event of  Default.  (g) In connection with any optional or mandatory prepayment of Borrowings  hereunder the Borrowers shall, subject to the provisions of this paragraph and paragraph (k) of this  Section, select the Borrowing or Borrowings to be prepaid and shall specify such selection in the  notice of such prepayment pursuant to paragraph (h) of this Section.  The applicable  Administrative Agent will promptly notify each Term Lender holding the applicable Class of Term  Loans of the contents of the applicable Borrower’s prepayment notice and of such Lender’s pro  rata share of the prepayment.  Each such Term Lender may reject all (but not less than all) of its  pro rata share of any mandatory prepayment (such declined amounts, the “Declined Proceeds”) of  Term Loans required to be made pursuant to clause (c) or (d) of this Section 2.11 by providing  notice to the applicable Administrative Agent at or prior to the time of such prepayment; provided  that for the avoidance of doubt, no Lender may reject any prepayment made with the proceeds of  Credit Agreement Refinancing Indebtedness.  Any Declined Proceeds remaining thereafter shall  be retained by the U.S. Borrower (“Retained Declined Proceeds”).  (h) The applicable Borrower shall notify the applicable Administrative Agent (and, in  the case of prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed by  telecopy) of any prepayment hereunder (a)(i)(x) in the case of prepayment of a Term Benchmark  Borrowing denominated in Dollars, not later than 11:00 a.m., New York City time, three (3)  Business Days before the date prepayment or (y) in the case of prepayment an RFR Borrowing  denominated in Dollars, not later than 11:00 a.m., New York City time, five (5) Business Days  before the date of prepayment, (ii) in the case of prepayment of a Term Benchmark Borrowing  denominated in Euros or Canadian Dollars, not later than 12:00 p.m., New York City time, three  (3) Business Days before the date of prepayment, and (iii) in the case of prepayment of an RFR  Borrowing denominated in Sterling, not later than 11:00 a.m., New York City time, five (5) RFR  Business Days before the date of prepayment, (b)  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 (c)  in the case of prepayment of a Swingline Loan, not later than 12:00 noon, New York City  time, on the date of prepayment.  Each such notice shall be irrevocable and shall specify the  prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in  the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such  prepayment, provided that a notice of optional prepayment may state that such notice is conditional  upon the consummation of an acquisition or sale transaction or upon the effectiveness of other  credit facilities or the receipt of the proceeds from the issuance of other Indebtedness or the  occurrence of any other specified event, in which case such notice of prepayment may be revoked  by such Borrower (by notice to the applicable Administrative Agent on or prior to the specified  

 

  119    3141/80492-001 CURRENT/130883173v17  #95685245v21   date) if such condition is not satisfied.  Promptly following receipt of any such notice, the  applicable Administrative Agent shall advise the Lenders of the contents thereof.  Except as  otherwise provided herein, 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 Type as provided in  Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment.   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 and any prepayment fees required by Section 2.11(a), to the extent applicable.    (i) Notwithstanding anything to the contrary contained in this Agreement, so long as  no Event of Default has occurred and is continuing or would result therefrom, any Borrower or  any Restricted Subsidiary (in such case, the foregoing being herein referred to as the “Auction  Parties” and each, an “Auction Party”) may repurchase outstanding Term Loans on the following  basis:  (A) Such Auction Party may repurchase all or any portion of any Class  of Term Loan (such Term Loans, “Subject Loans”) pursuant to a Dutch Auction (or  such other modified Dutch auction conducted pursuant to similar procedures as the  U.S. Borrower and the applicable Administrative Agent may otherwise agree);  provided that no proceeds of Revolving Loans shall be used by any Auction Party  to repurchase Term Loans pursuant to such Auction;  (B) Following repurchase by any Auction Party pursuant to this Section  2.11(i), the Term Loans so repurchased shall, without further action by any Person,  be deemed cancelled for all purposes and no longer outstanding (and may not be  resold by any Auction Party) for all purposes of this Agreement, and the principal  amount of the Loans so repurchased shall be applied on a pro rata basis to reduce  the scheduled remaining installments of principal on such Class of Term Loans.  In  connection with any Term Loans repurchased and cancelled pursuant to this Section  2.11(i), the applicable Administrative Agent is authorized to make appropriate  entries in the Register to reflect any such cancellation.  Any payment made by any  Auction Party in connection with a repurchase permitted by this Section 2.11(i)  shall not be subject to any of the pro rata payment or sharing requirements of this  Agreement.  Notwithstanding anything in this Agreement or any other Loan  Documents to the contrary, failure by an Auction Party to make any payment to a  Lender required by an agreement permitted by this Section 2.11(i) shall not  constitute a Default or an Event of Default;  (C) Each Lender that sells its Term Loans pursuant to this Section  2.11(i) acknowledges and agrees that (i) the Auction Parties may come into  possession of additional information regarding the Loans or the Loan Parties at any  time after a repurchase has been consummated pursuant to an Auction hereunder  that was not known to such Lender or the Auction Parties at the time such  repurchase was consummated and that, when taken together with information that  was known to the Auction Parties at the time such repurchase was consummated,  may be information that would have been material to such Lender’s decision to  enter into an assignment of such Term Loans hereunder (“Excluded Information”),  

 

  120    3141/80492-001 CURRENT/130883173v17  #95685245v21   (ii) such Lender will independently make its own analysis and determination to  enter into an assignment of its Loans and to consummate the transactions  contemplated by an Auction notwithstanding such Lender’s lack of knowledge of  Excluded Information and (iii) none of the Auction Parties or any other Person shall  have any liability to such Lender with respect to the nondisclosure of the Excluded  Information.  Each Lender that tenders Loans pursuant to an Auction agrees to the  foregoing provisions of this clause (C).  The applicable Administrative Agent and  the Lenders hereby consent to the Auctions and the other transactions contemplated  by this Section 2.11(i) and hereby waive the requirements of any provision of this  Agreement (including, without limitation, any pro rata payment requirements) (it  being understood and acknowledged that purchases of the Loans by an Auction  Party contemplated by this Section 2.11(i) shall not constitute Investments by such  Auction Party) or any other Loan Document that may otherwise prohibit any  Auction or any other transaction contemplated by this Section 2.11(i).    (j) Notwithstanding any of the other provisions of this Section 2.11, if any  prepayment of Term Benchmark Loans is required to be made under this Section 2.11, prior to the  last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 2.11  in respect of any such Term Benchmark Loan prior to the last day of the Interest Period therefor,  the applicable Borrower may, in its sole discretion, deposit with the applicable Administrative  Agent in the currency in which such Loan is denominated, the amount of any such prepayment  otherwise required to be made hereunder until the last day of such Interest Period, at which time  such Administrative Agent shall be authorized (without any further action by or notice to or from  the applicable Borrower or any other Loan Party) to apply such amount to the prepayment of such  Loans in accordance with this Section 2.11.  Such deposit shall constitute cash collateral for the  Term Benchmark Loans to be so prepaid; provided that the applicable Borrower may at any time  direct that such deposit be applied to make the applicable payment required pursuant to this Section  2.11.  (k) In connection with any voluntary prepayments by the Borrowers pursuant to  Section 2.11(a), any voluntary prepayment thereof shall be applied first to ABR Loans to the full  extent thereof before application to Term Benchmark Rate Loans or RFR Loans, in each case in a  manner that minimizes the amount of any payments required to be made by the Borrowers pursuant  to Section 2.16.  In connection with any mandatory prepayments by the Borrowers of the Term  Loans pursuant to Section 2.11, such prepayments shall be applied on a pro rata basis to the then  outstanding Term Loans being prepaid irrespective of whether such outstanding Term Loans are  ABR Loans, RFR Loans or Term Benchmark Loans; provided that if no Lenders exercise the right  to waive a given mandatory prepayment of the Term Loans pursuant to Section 2.11(g), then, with  respect to such mandatory prepayment, the amount of such mandatory prepayment shall be applied  first to Term Loans that are ABR Loans to the full extent thereof before application to Term Loans  that are Term Benchmark Loans or RFR Loans in a manner that minimizes the amount of any  payments required to be made by the Borrowers pursuant to Section 2.16.  Section 2.12 Fees.    (a) The U.S. Borrower agrees to pay to the Revolving Facility Administrative Agent  for the account of each Revolving Lender, in accordance with its Applicable Percentage of  

 

  121    3141/80492-001 CURRENT/130883173v17  #95685245v21   Revolving Commitments, a commitment fee, which shall accrue at the rate under the heading  “Commitment Fee Rate” in the definition of “Applicable Margin” on the actual daily unused  amount of the Revolving Commitment of such Lender during the period from and including the  Restatement Date to, but excluding, the date on which the Revolving Commitments terminate,  subject to adjustment as provided in Section 2.22.  Accrued commitment fees shall be payable in  arrears on the third Business Day following the last day of March, June, September and December  of each year and on the date on which the Revolving Commitments terminate, commencing on the  first such date to occur after the Restatement Date, provided that no commitment fee shall accrue  on the Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting  Lender.  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 shall be  deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such  Lender.  (b) The U.S. Borrower agrees to pay (i) to the Revolving Facility Administrative  Agent for the account of each Revolving Lender a participation fee with respect to its participations  in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the  interest rate applicable to Term Benchmark Revolving Loans on the actual daily amount of such  Revolving Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC  Disbursements) during the period from and including the Restatement Date, to but excluding the  date on which such Revolving Lender’s Revolving Commitment terminates, and (ii) to the Issuing  Bank a fronting fee, which shall accrue at a rate equal to 0.125% per annum on the actual daily  amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC  Disbursements) during the period from and including the Restatement Date, to but excluding the  date of termination of the Revolving Commitments, as well as the 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 to and excluding 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 Restatement 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 the Issuing Bank pursuant to this  paragraph shall be payable within thirty (30) days after written demand (including reasonable  supporting documents). 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) Each Borrower agrees to pay to each Administrative Agent, for its own account,  fees payable in the amounts and at the times separately agreed upon between such Borrower and  such Administrative Agent.  (d) All fees payable hereunder shall be paid by the specified Borrower on the dates  due, in immediately available funds, to the applicable Administrative Agent (or to the Issuing  Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and  

 

  122    3141/80492-001 CURRENT/130883173v17  #95685245v21   participation fees, to the Lenders entitled thereto.  Fees paid shall not be refundable under any  circumstances.  (e) The U.S. Borrower agrees to pay to the applicable Administrative Agent for the  account of each Lender on the Restatement Date (immediately after giving effect to the  effectiveness of this Agreement on such date) the fees described in the Fee Letter.  Such fees will  be in all respects fully earned, due and payable on the Restatement Date and non-refundable and  non-creditable thereafter and shall be netted against the Revolving Loans (if any) made by such  Lender to the U.S. Borrower or the Tranche A Term Loans (as defined in this Agreement as of the  Restatement Date) made by such Lender to the U.S. Borrower.  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 Margin.  The Loans comprising  each Canadian Prime Borrowing shall bear interest at the Canadian Prime Rate plus the Applicable  Rate  (b) The Loans comprising each Term Benchmark Borrowing shall bear interest at the  Adjusted Term SOFR Rate, the Adjusted EURIBOR Rate or the Adjusted CDOR Rate, as  applicable, for the Interest Period in effect for such Borrowing plus the Applicable Margin.  (c) Each RFR Loan shall bear interest at a rate per annum equal to the applicable  Adjusted Daily Simple RFR plus the Applicable Margin.  (d) Notwithstanding the foregoing, if any principal of or interest on any Loan or any  fee payable by the Borrowers hereunder is not paid when due (after the expiration of any applicable  grace period), 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, 2.00% plus the rate otherwise applicable to such Loan as provided  in the preceding paragraphs of this Section (including the Applicable Margin) or (ii) in the case of  any other amount, 2.00% plus the rate applicable to ABR Revolving Loans as provided in  paragraph (a) of this Section; provided that no default rate shall accrue on the Loans of a Defaulting  Lender so long as such Lender shall be a Defaulting Lender.  (e) 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, upon termination of the applicable  Revolving Commitments, provided that (i) interest accrued pursuant to paragraph (d) of this  Section shall be payable on written 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 Term  Benchmark Revolving 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.  (f) Interest computed by reference to the Term SOFR Rate, the EURIBOR Rate, the  CDOR Rate or Daily Simple RFR with respect to Dollars hereunder shall be computed on the basis  

 

  123    3141/80492-001 CURRENT/130883173v17  #95685245v21   of a year of 360 days.  Interest computed by reference to the Daily Simple RFR with respect to  Sterling, Canadian Prime Rate or the Alternate Base Rate at times when the Alternate Base Rate  is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a  leap year).  In each case interest shall be payable for the actual number of days elapsed (including  the first day but excluding the last day).  All interest hereunder on any Loan shall be computed on  a daily basis based upon the outstanding principal amount of such Loan as of the applicable date  of determination.  The applicable Alternate Base Rate, Adjusted Term SOFR Rate, Term SOFR  Rate, Adjusted EURIBOR Rate, EURIBOR Rate, Adjusted CDOR Rate, CDOR Rate, Adjusted  Daily Simple RFR, Canadian Prime Rate or Daily Simple RFR shall be determined by the  Administrative Agent, and such determination shall be conclusive absent manifest error.  Section 2.14 Alternate Rate of Interest.  (a) Subject to clauses (b), (c), (d), (e)  and (f) of this Section 2.14, if:  (i) the applicable Administrative Agent determines (which  determination shall be conclusive absent manifest error) (A) prior to the  commencement of any Interest Period for a Term Benchmark Borrowing, that  adequate and reasonable means do not exist for ascertaining the Adjusted Term  SOFR Rate, the Term SOFR Rate, the Adjusted EURIBOR Rate, the  EURIBOR Rate or the Adjusted CDOR Rate or the CDOR Rate (including  because the Relevant Screen Rate is not available or published on a current  basis), for the applicable Agreed Currency and such Interest Period or (B) at  any time, that adequate and reasonable means do not exist for ascertaining the  applicable Adjusted Daily Simple RFR, Daily Simple RFR or RFR for the  applicable Agreed Currency; or  (ii) the applicable Administrative Agent is advised by the Required  Lenders that (A) prior to the commencement of any Interest Period for a Term  Benchmark Borrowing, the Adjusted Term SOFR Rate, the Adjusted  EURIBOR Rate or the Adjusted CDOR Rate for the applicable Agreed  Currency and such Interest Period will not adequately and fairly reflect the cost  to such Lenders (or Lender) of making or maintaining their Loans (or its Loan)  included in such Borrowing for the applicable Agreed Currency and such  Interest Period or (B) at any time, the applicable Adjusted Daily Simple RFR  for the applicable Agreed Currency will not adequately and fairly reflect the  cost to such Lenders (or Lender) of making or maintaining their Loans (or its  Loan) included in such Borrowing for the applicable Agreed Currency;  then the applicable Administrative Agent shall give notice thereof to the Borrowers and the  Lenders by telephone, telecopy or electronic mail as promptly as practicable thereafter and, until  the earlier of the date when (x) the applicable Administrative Agent notifies the Borrowers and the  Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant  Benchmark and (y) the applicable Borrower delivers a new Interest Election Request in accordance  with the terms of Section 2.08 or a new Borrowing Request in accordance with the terms of Section  2.03, (A) for Loans denominated in Dollars, (1) any Interest Election Request that requests the  conversion of any Borrowing to, or continuation of any Borrowing as, a Term Benchmark  Borrowing and any Borrowing Request that requests a Term Benchmark Borrowing shall instead  

 

  124    3141/80492-001 CURRENT/130883173v17  #95685245v21   be deemed to be an Interest Election Request or a Borrowing Request, as applicable, for (x) an  RFR Borrowing denominated in Dollars so long as the Adjusted Daily Simple RFR for Dollar  Borrowings is not also the subject of Section 2.14(a)(i) or (ii) above or (y) an ABR Borrowing if  the Adjusted Daily Simple RFR for Dollar Borrowings also is the subject of Section 2.14(a)(i) or  (ii) above and (2) any Borrowing Request that requests an RFR Borrowing shall instead be deemed  to be a Borrowing Request, as applicable, for an ABR Borrowing and (B) for Loans denominated  in an Alternative Currency, any Interest Election Request that requests the conversion of any  Revolving Borrowing to, or continuation of any Revolving Borrowing as, a Term Benchmark  Borrowing and any Borrowing Request that requests a Term Benchmark Borrowing or an RFR  Borrowing, in each case, for the relevant Benchmark, shall be ineffective; provided that, if the  circumstances giving rise to such notice affect only one Type of Borrowings, then all other Types  of Borrowings shall be permitted.  Furthermore, if any Term Benchmark Loan or RFR Loan in  any Agreed Currency is outstanding on the date of the Borrowers’ receipt of the notice from the  applicable Administrative Agent referred to in this Section 2.14(a) with respect to a Relevant Rate  applicable to such Term Benchmark Loan or RFR Loan, then until the earlier of the date when (x)  the applicable Administrative Agent notifies the Borrowers and the Lenders that the circumstances  giving rise to such notice no longer exist with respect to the relevant Benchmark and (y) the  applicable Borrower delivers a new Interest Election Request in accordance with the terms of  Section 2.08 or a new Borrowing Request in accordance with the terms of Section 2.03, (A) for  Loans denominated in Dollars, (1) any Term Benchmark Loan shall on the last day of the Interest  Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business  Day), be converted by the applicable Administrative Agent to, and shall constitute, (x) an RFR  Borrowing denominated in Dollars so long as the Adjusted Daily Simple RFR for Dollar  Borrowings is not also the subject of Section 2.14(a)(i) or (ii) above or (y) an ABR Loan if the  Adjusted Daily Simple RFR for Dollar Borrowings also is the subject of Section 2.14(a)(i) or (ii)  above, on such day, and (2) any RFR Loan shall on and from such day be converted by the  applicable Administrative Agent to, and shall constitute an ABR Loan and (B) for Loans  denominated in an Alternative Currency, (1) any Term Benchmark Loan (other than Term  Benchmark Loans denominated in Canadian Dollars) shall, on the last day of the Interest Period  applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day)  bear interest at the Central Bank Rate for the applicable Alternative Currency plus the CBR Spread;  provided that, if the applicable Administrative Agent determines (which determination shall be  conclusive and binding absent manifest error) that the Central Bank Rate for the applicable  Alternative Currency cannot be determined, any outstanding affected Term Benchmark Loans  denominated in any Alternative Currency shall, at the Borrower’s election prior to such day: (A)  be prepaid by the applicable Borrower on such day or (B) solely for the purpose of calculating the  interest rate applicable to such Term Benchmark Loan, such Term Benchmark Loan denominated  in any Alternative Currency shall be deemed to be a Term Benchmark Loan denominated in  Dollars and shall accrue interest at the same interest rate applicable to Term Benchmark Loans  denominated in Dollars at such time, (2) any Term Benchmark Loan denominated in Canadian  Dollars shall, on the last day of the Interest Period applicable to such Loan (or the next succeeding  Business Day if such day is not a Business Day), be converted by the applicable Administrative  Agent to, and shall constitute, a Canadian Prime Loan denominated in Canadian Dollars on such  day and (3) any RFR Loan shall bear interest at the Central Bank Rate for the applicable  Alternative Currency plus the CBR Spread; provided that, if the applicable Administrative Agent  determines (which determination shall be conclusive and binding absent manifest error) that the  

 

  125    3141/80492-001 CURRENT/130883173v17  #95685245v21   Central Bank Rate for the applicable Alternative Currency cannot be determined, any outstanding  affected RFR Loans denominated in any Alternative Currency, at the applicable Borrower’s  election, shall either (A) be converted into ABR Loans denominated in Dollars (in an amount equal  to the Dollar Equivalent of such Alternative Currency) immediately or (B) be prepaid in full  immediately.  (b) Notwithstanding anything to the contrary herein or in any other Loan Document  (and any Swap Agreement shall be deemed not to be a “Loan Document” for purposes of this  Section 2.14), if a Benchmark Transition Event and its related Benchmark Replacement Date have  occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then  (x) if a Benchmark Replacement is determined in accordance with clause (1) of the definition of  “Benchmark Replacement” with respect to Dollars for such Benchmark Replacement Date, such  Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any  Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without  any amendment to, or further action or consent of any other party to, this Agreement or any other  Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (2)  of the definition of “Benchmark Replacement” with respect to any Agreed Currency for such  Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all  purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after  5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such  Benchmark Replacement is provided to the Lenders without any amendment to, or further action  or consent of any other party to, this Agreement or any other Loan Document so long as the  applicable Administrative Agent has not received, by such time, written notice of objection to such  Benchmark Replacement from Lenders comprising the Required Lenders of each affected Class.  (c) Notwithstanding anything to the contrary herein or in any other Loan Document,  the applicable Administrative Agent will have the right to make Benchmark Replacement  Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in  any other Loan Document, any amendments implementing such Benchmark Replacement  Conforming Changes will become effective without any further action or consent of any other  party to this Agreement or any other Loan Document.   (d) The applicable Administrative Agent will promptly notify the Borrowers and the  Lenders of (i) any occurrence of a Benchmark Transition Event, (ii) the implementation of any  Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming  Changes, including copies of the relevant Loan Documents showing such Benchmark  Replacement Conforming Changes, (iv) the removal or reinstatement of any tenor of a Benchmark  pursuant to clause (f) below and (v) the commencement or conclusion of any Benchmark  Unavailability Period.  Any determination, decision or election that may be made by the applicable  Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section  2.14, including any determination with respect to a tenor, rate or adjustment or of the occurrence  or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking  any action or any selection, will be conclusive and binding absent manifest error and may be made  in its or their sole discretion and without consent from any other party to this Agreement or any  other Loan Document, except, in each case, as expressly required pursuant to this Section 2.14.  

 

  126    3141/80492-001 CURRENT/130883173v17  #95685245v21   (e) Notwithstanding anything to the contrary herein or in any other Loan Document,  at any time (including in connection with the implementation of a Benchmark Replacement), (i) if  the then-current Benchmark is a term rate (including the Term SOFR Rate, EURIBOR Rate or  CDOR Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other  information service that publishes such rate from time to time as selected by the applicable  Administrative Agent in its reasonable discretion or (B) the regulatory supervisor for the  administrator of such Benchmark has provided a public statement or publication of information  announcing that any tenor for such Benchmark is or will be no longer representative, then the  applicable Administrative Agent may modify the definition of “Interest Period” for any  Benchmark settings at or after such time to remove such unavailable or non-representative tenor  and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed  on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B)  is not, or is no longer, subject to an announcement that it is or will no longer be representative for  a Benchmark (including a Benchmark Replacement), then the applicable Administrative Agent  shall modify the definition of “Interest Period” for all Benchmark settings at or after such time to  reinstate such previously removed tenor.  (f) Upon the Borrowers’ receipt of notice of the commencement of a Benchmark  Unavailability Period, the applicable Borrower may revoke any request for a Term Benchmark  Borrowing or RFR Borrowing of, conversion to or continuation of Term Benchmark Loans to be  made, converted or continued during any Benchmark Unavailability Period and, failing that, either  (x) the applicable Borrower will be deemed to have converted any request for (1) a Term  Benchmark Borrowing denominated in Dollars into a request for a Borrowing of or conversion to  (A) an RFR Borrowing denominated in Dollars so long as the Adjusted Daily Simple RFR for  Dollar Borrowings is not the subject of a Benchmark Transition Event or (B) an ABR Borrowing  if the Adjusted Daily Simple RFR for Dollar Borrowings is the subject of a Benchmark Transition  Event (y) the applicable Borrower will be deemed to have converted any request for a Term  Benchmark Borrowing denominated in Canadian Dollars into a request for a Borrowing of or  conversion to Canadian Prime Loans or (z) any Term Benchmark Borrowing or RFR Borrowing  denominated in an Alternative Currency (other than Canadian Dollars) shall be ineffective.  During  any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark  is not an Available Tenor, the component of ABR based upon the then-current Benchmark or such  tenor for such Benchmark, as applicable, will not be used in any determination of ABR.   Furthermore, if any Term Benchmark Loan or RFR Loan in any Agreed Currency is outstanding  on the date of the applicable Borrower’s receipt of notice of the commencement of a Benchmark  Unavailability Period with respect to a Relevant Rate applicable to such Term Benchmark Loan  or RFR Loan, then until such time as a Benchmark Replacement for such Agreed Currency is  implemented pursuant to this Section 2.14, (A) for Loans denominated in Dollars (1) any Term  Benchmark Loan shall on the last day of the Interest Period applicable to such Loan (or the next  succeeding Business Day if such day is not a Business Day), be converted by the applicable  Administrative Agent to, and shall constitute, (x) an RFR Borrowing denominated in Dollars so  long as the Adjusted Daily Simple RFR for Dollar Borrowings is not the subject of a Benchmark  Transition Event or (y) an ABR Loan if the Adjusted Daily Simple RFR for Dollar Borrowings is  the subject of a Benchmark Transition Event, on such day and (2) any RFR Loan shall on and from  such day be converted by the applicable Administrative Agent to, and shall constitute an ABR  Loan, (B) for Loans denominated in an Alternative Currency (other than Canadian Dollars), (1)  

 

  127    3141/80492-001 CURRENT/130883173v17  #95685245v21   any Term Benchmark Loan shall, on the last day of the Interest Period applicable to such Loan (or  the next succeeding Business Day if such day is not a Business Day) bear interest at the Central  Bank Rate for the applicable Alternative Currency plus the CBR Spread; provided that, if the  applicable Administrative Agent determines (which determination shall be conclusive and binding  absent manifest error) that the Central Bank Rate for the applicable Alternative Currency cannot  be determined, any outstanding affected Term Benchmark Loans denominated in any Alternative  Currency shall, at the Borrower’s election prior to such day: (A) be prepaid by the applicable  Borrower on such day or (B) solely for the purpose of calculating the interest rate applicable to  such Term Benchmark Loan, such Term Benchmark Loan denominated in any Alternative  Currency shall be deemed to be a Term Benchmark Loan denominated in Dollars and shall accrue  interest at the same interest rate applicable to Term Benchmark Loans denominated in Dollars at  such time and (2) any RFR Loan shall bear interest at the Central Bank Rate for the applicable  Alternative Currency plus the CBR Spread; provided that, if the applicable Administrative Agent  determines (which determination shall be conclusive and binding absent manifest error) that the  Central Bank Rate for the applicable Alternative Currency cannot be determined, any outstanding  affected RFR Loans denominated in any Alternative Currency, at the applicable Borrower’s  election, shall either (A) be converted into ABR Loans denominated in Dollars (in an amount equal  to the Dollar Equivalent of such Alternative Currency) immediately or (B) be prepaid in full  immediately and (C) for Loans denominated in Canadian Dollars, then on the last day of the  Interest Period applicable to such Loan (or the next succeeding Business Day if such day is not a  Business Day), such Loan shall be converted by the applicable Administrative Agent to, and shall  constitute, a Canadian Prime Loan denominated in Canadian Dollars on such day.  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 by, any Lender or the Issuing Bank (except any such reserve  requirement reflected in the Adjusted Term SOFR Rate, Adjusted EURIBOR Rate or  Adjusted CDOR Rate, as applicable), including pursuant to regulations issued from time  to time by the Federal Reserve Board for determining the maximum reserve requirement  (including any emergency, special, supplemental or other marginal reserve requirement)  with respect to eurocurrency funding (currently referred to as “Eurocurrency liabilities” in  Regulation D));  (ii) impose on any Lender or Issuing Bank or the applicable offshore interbank  market for the applicable Agreed Currency any other condition, cost or expense (other than  Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or  participation therein; or  (iii)subject any Lender or the Issuing Bank to any additional Taxes of  any kind whatsoever with respect to this Agreement or any Loan made by it, or  change the basis of taxation of payments to such Lender in respect thereof  (except, in each case, for Indemnified Taxes indemnifiable under Section 2.17  (or which would have been indemnifiable under Section 2.17 but were not so  

 

  128    3141/80492-001 CURRENT/130883173v17  #95685245v21   indemnifiable solely because one or more of the exclusions in Section 2.17(b)  applied) and any Excluded Taxes)  and the result of any of the foregoing shall be to materially increase the cost to such Lender of  making, converting to, continuing or maintaining any Loan (or of maintaining its obligation to  make any such Loan) of the Borrowers or to increase the cost to such Lender or the Issuing Bank  of participating in, issuing or maintaining any Letter of Credit for the benefit of the U.S. Borrower  or to reduce the amount of any sum received or receivable by such Lender or the Issuing Bank  hereunder (whether of principal, interest or otherwise) from the U.S. Borrower, then the Borrowers  will pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts  as will compensate such Lender or the Issuing Bank, as the case may be, for such additional costs  incurred or reduction suffered.  (b) If any Lender or the Issuing Bank determines in good faith that any Change in Law  regarding capital or liquidity requirements has or would have the effect of materially reducing the  rate of return on such Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s or  the Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans  made by, or participations in Letters of Credit held by, such Lender to the Borrowers or the Letters  of Credit issued by the Issuing Bank for the benefit of the U.S. Borrower to a level below that  which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company  could have achieved but for such Change in Law (taking into consideration such Lender’s or the  Issuing Bank’s policies and the policies of such Lender’s or the Issuing Bank’s holding company  with respect to capital and liquidity adequacy), then from time to time the Borrowers will pay to  such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will  compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding  company for any such reduction suffered.  (c) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts  necessary to compensate such Lender or the Issuing Bank or its holding company, as the case may  be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrowers and shall  be conclusive absent manifest error.  The Borrowers shall pay such Lender or the Issuing Bank, as  the case may be, the amount shown as due on any such certificate within ten (10) days after receipt  thereof.  (d) Failure or delay on the part of any Lender or the Issuing Bank to demand  compensation pursuant to this Section shall not constitute a waiver of such Lender’s or the Issuing  Bank’s right to demand such compensation, provided that the Borrowers shall not be required to  compensate a Lender or the Issuing Bank pursuant to this Section for any increased costs or  reductions incurred more than 120 days prior to the date that such Lender or the Issuing Bank, as  the case may be, notifies the Borrowers of the Change in Law giving rise to such increased costs  or reductions and of such Lender’s or the Issuing Bank’s intention to claim compensation therefor,  and provided further that, if the Change in Law giving rise to such increased costs or reductions is  retroactive, then the 120-day period referred to above shall be extended to include the period of  retroactive effect thereof.  (e) If, in any applicable jurisdiction, any Lender reasonably determines that any  applicable law has made it unlawful, or that any governmental or regulatory authority has asserted  

 

  129    3141/80492-001 CURRENT/130883173v17  #95685245v21   that it is unlawful, for the applicable Lender or its applicable Affiliate to (i) perform any of its  obligations hereunder or under any other Loan Document as such obligations pertain to the U.K.  Borrower or U.K. Obligations, (ii) to fund or maintain its participation in any Borrowing of U.K.  Revolving Loans or Tranche A Term Loans or (iii) issue, make, maintain, fund or charge interest  with respect to any Borrowing to the U.K. Borrower, such Person shall promptly notify the  applicable Administrative Agent, then, upon the applicable Administrative Agent notifying the  U.S. Borrower, and until such notice by such Person is revoked (which such Person agrees to  revoke such notice promptly upon the conditions in clauses (i) through (iii) no longer being met),  any obligation of such Person to issue, make, maintain, fund or charge interest with respect to any  such Borrowing shall be suspended, and to the extent required by applicable law, cancelled. Upon  receipt of such notice, (A) the U.K. Borrower shall, only if such Person, the U.K. Borrower (in the  U.K. Borrower's sole discretion) and the applicable Administrative Agent fail to reasonably agree  on an alternative arrangement that would address such illegality, repay that Person’s participation  in the applicable Loans or other applicable U.K. Obligations on the last day of the Interest Period  for each Loan or other Obligation occurring after the applicable Administrative Agent has notified  the U.S. Borrower or, if earlier, the date specified by such Person in the notice delivered to the  applicable Administrative Agent (being no earlier than the last day of any applicable grace period  permitted by applicable law) and (B) use commercially reasonable efforts to take all reasonable  actions requested by such Person to mitigate or avoid such illegality.  Section 2.16 Break Funding Payments.  (a) With respect to Loans that are not  RFR Loans, in the event of (i) the payment of any principal of any Term Benchmark Loan other  than on the last day of an Interest Period applicable thereto (including as a result of an Event of  Default or an optional or mandatory prepayment of Loans), (ii) the conversion of any Term  Benchmark Loan other than on the last day of the Interest Period applicable thereto, (iii) the  failure to borrow, convert, continue or prepay any Term Benchmark Loan on the date specified  in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under  Section 2.11(b) and is revoked in accordance therewith), (iv) the assignment of any Term  Benchmark Loan other than on the last day of the Interest Period applicable thereto as a result of  a request by the applicable Borrower pursuant to Section 2.19 or (v) the failure by the applicable  Borrower to make any payment of any Loan or drawing under any Letter of Credit (or interest  due thereof) denominated in an Alternative Currency on its scheduled due date or any payment  thereof in a different currency, then, in any such event, the applicable Borrower shall compensate  each Lender for the loss, cost and expense attributable to such event (other than loss of profit).   A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to  receive pursuant to this Section shall be delivered to the applicable Borrower and shall be  conclusive absent manifest error.  The applicable Borrower shall pay such Lender the amount  shown as due on any such certificate within 10 days after receipt thereof.  Failure or delay on the part of any Lender to demand compensation pursuant to this  Section shall not constitute a waiver of such Lender’s right to demand such compensation,  provided that the Borrowers shall not be required to compensate a Lender pursuant to this Section  for any costs incurred more than 270 days prior to the date of the event giving rise to such costs.  Section 2.17 Taxes.  

 

  130    3141/80492-001 CURRENT/130883173v17  #95685245v21   (a) Each payment by or on account of any Loan Party under any Loan Document shall  be made without withholding for any Taxes, unless such withholding is required by any  Requirement of Law.  If any applicable withholding agent is so required to withhold Taxes, then  such withholding agent shall so withhold and shall timely pay the full amount of withheld Taxes  to the relevant Governmental Authority in accordance with any applicable law.  To the extent such  Taxes are Indemnified Taxes, then the amount payable by the applicable Loan Party shall be  increased as necessary so that, net of such withholding (including such withholding applicable to  additional amounts payable under this Section 2.17), the applicable Recipient receives the amount  it would have received had no such withholding been made.  (b) A payment by the U.K. Borrower (or by the U.S. Borrower in its capacity as  guarantor in respect of the U.K. Borrower’s obligation to pay) shall not be increased under  paragraph (a) above by reason of a U.K. Tax Deduction if, on the date on which the payment falls  due:  (i) the payment could have been made to the relevant Lender without a U.K.  Tax Deduction if the Lender had been a U.K. Qualifying Lender, but on that  date that Lender is not or has ceased to be a U.K. Qualifying Lender other  than as a result of any change after the Amendment No. 3 Effective Date or  (if later) the date it became a Lender under this Agreement in (or in the  interpretation, administration, or application of) any law or U.K. Treaty or  any published practice or published concession of any relevant taxing  authority other than a change in a Relevant Covered Tax Agreement (or the  interpretation, administration or application of a Relevant Covered Tax  Agreement) that occurs pursuant to the MLI and in accordance with MLI  Reservations or MLI Notifications made by (on the one hand) the MLI  Lender Jurisdiction and (on the other hand) the United Kingdom, where  each relevant MLI Reservation or MLI Notification satisfies the MLI  Disclosure Condition; or  (ii) the relevant Lender is a U.K. Qualifying Lender solely by virtue of  paragraph (b) of the definition of “U.K. Qualifying Lender” and:  (a) an officer of HM Revenue & Customs has given (and not  revoked) a direction (a “Direction”) under section 931 of the U.K. ITA which relates  to the payment and that Lender has received from the Loan Party making the  payment a certified copy of that Direction; and  (b) the payment could have been made to the Lender without  any U.K. Tax Deduction if that Direction had not been made; or  (iii) the relevant Lender is a U.K. Qualifying Lender solely by virtue of  paragraph (b) of the definition of “U.K. Qualifying Lender” and:  (a) the relevant Lender has not given a U.K. Tax Confirmation  to the U.K. Borrower; and  

 

  131    3141/80492-001 CURRENT/130883173v17  #95685245v21   (b) the payment could have been made to the Lender without  any U.K. Tax Deduction if the Lender had given a U.K. Tax Confirmation to the  relevant Loan Party, on the basis that the U.K. Tax Confirmation would have  enabled such Loan Party to have formed a reasonable belief that the payment was  an “excepted payment” for the purpose of section 930 of the U.K. ITA; or  (iv) the relevant Lender is a U.K. Treaty Lender and the Loan Party making the  payment is able to demonstrate that the payment could have been made to  the Lender without the U.K. Tax Deduction had that Lender complied with  its obligations under paragraphs 2.17(f)(iv)(A), 2.17(f)(iv)(B) or  2.17(f)(iv)(C) (as applicable) below.  (c) In addition, each Loan Party shall pay any Other Taxes to the relevant  Governmental Authority in accordance with applicable law.  (d) As promptly as possible after any payment of Indemnified Taxes by a Loan Party  to a Governmental Authority, such Loan Party shall deliver to the Administrative Agents the  original or a certified copy of a receipt issued by such Governmental Authority evidencing such  payment.  (e) The Loan Parties shall indemnify each Recipient for the full amount of any  Indemnified Taxes that are paid or payable by such Recipient in connection with any Loan  Document (including Indemnified Taxes imposed or asserted on or attributable to amounts payable  under this Section 2.17) or for which such Loan Party has failed to remit to the Administrative  Agents the required receipts or other required documentary evidence and any expenses arising  therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally  imposed or asserted; provided, however, that if a Recipient does not notify the Loan Parties of any  indemnification claim under this Section 2.17(e) within 120 days after such Recipient has received  written notice of the claim of a taxing authority giving rise to such indemnification claim, the Loan  Parties shall not be required to indemnify such Recipient for any incremental interest or penalties  resulting from such Recipient’s failure to notify the Loan Parties within such 120-day period, and  provided that the foregoing indemnity shall not apply to any Indemnified Taxes which would have  been compensated for by an increased payment under Section 2.17(a) but was not so compensated  solely because one or more of the exclusions in Section 2.17(b) applied, the indemnity under this  paragraph (e) shall be paid within thirty (30) days after the Recipient (or the Administrative  Agents, on behalf of such Recipient) delivers to the applicable Loan Party a certificate stating the  amount of Indemnified Taxes so payable by such Recipient.  Such certificate shall be conclusive  of the amount so payable absent manifest error.  Such Recipient shall deliver a copy of such  certificate to the Administrative Agents.  (f) (i) Any Lender that is entitled to an exemption from, or reduction of, any  applicable withholding Tax with respect to any payments under any Loan Document (other than  with respect to a U.K. Tax Deduction to which the provisions of Section 2.17(f)(iv) shall apply, as  applicable) shall deliver to the applicable Borrower and the Administrative Agents, at the time or  times prescribed by law or reasonably requested by the applicable Borrower or the Administrative  Agents, such properly completed and executed documentation reasonably requested by the  applicable Borrower or the Administrative Agents as will permit such payments to be made  

 

  132    3141/80492-001 CURRENT/130883173v17  #95685245v21   without, or at a reduced rate of, withholding.  In addition, any Lender (other than with respect to a  U.K. Tax Deduction to which the provisions of Section 2.17(f)(iv) shall apply, as applicable), if  requested by the U.S. Borrower or the Administrative Agents, shall deliver such other  documentation prescribed by law or reasonably requested by the U.S. Borrower or the  Administrative Agents as will enable the U.S. Borrower or the Administrative Agents to determine  whether or not such Lender is subject to U.S. backup withholding or information reporting  requirements, or any other U.S. or non-U.S. withholding requirements.  Upon the reasonable  request of the applicable Borrower or the Administrative Agents, any Lender shall update any form  or certification previously delivered pursuant to this Section 2.17(f).  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 ten (10)  days after such expiration, obsolescence or inaccuracy) notify the applicable Borrower and the  Administrative Agents in writing of such expiration, obsolescence or inaccuracy and update the  form or certification if it is legally eligible to do so.  (ii) Without limiting the generality of the foregoing and solely with  respect to the Obligations, any Lender shall, if it is legally eligible to do so,  deliver to the U.S. Borrower and the Administrative Agents on or prior to the  date on which such Lender becomes a party hereto, two duly completed and  executed copies of whichever of the following is applicable:  (A) in the case of a Lender that is a U.S. Person, IRS Form W-9  certifying that such Lender is exempt from U.S. federal backup withholding;  (B) in the case of a Foreign Lender claiming the benefits of an income  tax treaty to which the United States is a party, IRS Form W-8 BEN or W-8 BEN- E (or any successor form);  (C) in the case of a Foreign Lender for whom payments under any Loan  Document constitute income that is effectively connected with such Lender’s  conduct of a trade or business in the United States, IRS Form W-8ECI (or any  successor form);  (D) in the case of a Foreign Lender claiming the benefits of the  exemption for portfolio interest under Section 871(h) or 881(c) of the Code both  (1) IRS Form W-8BEN or W-8BEN-E (or any successor form) and (2) a certificate  substantially in the form of the applicable Exhibit H (a “U.S. Tax Certificate”);  (E) in the case of a Foreign Lender that is not the beneficial owner of  payments made under any Loan Document (including a partnership or a  participating Lender), (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 such beneficial owner or partner of such  partnership if such beneficial owner or partner were a Lender; provided, however,  that if the Lender is a partnership for U.S. federal income tax purposes (and not a  participating Lender) and one or more of its partners are claiming the exemption  

 

  133    3141/80492-001 CURRENT/130883173v17  #95685245v21   for portfolio interest under Section 871(h) or 881(c) of the Code, such Lender may  provide a U.S. Tax Certificate on behalf of such partners; or  (F) any other form prescribed by law as a basis for claiming exemption  from, or a reduction of, U.S. federal withholding Tax together with such  supplementary documentation necessary to enable the U.S. Borrower or the  Administrative Agents to determine the amount of Tax (if any) required by law to  be withheld.  (iii)Solely with respect to the Obligations, if a payment made to any  Lender would be subject to U.S. federal withholding Tax imposed under  FATCA if such Lender were to fail to comply with the applicable reporting  requirements of FATCA (including those contained in Sections 1471(b) or  1472(b) of the Code, as applicable), such Lender shall deliver to the U.S.  Borrower and Administrative Agent, at the time or times prescribed by law and  at such time or times reasonably requested by the U.S. Borrower or the  Administrative Agents, such documentation prescribed by applicable law  (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such  other documentation reasonably requested by the U.S. Borrower and the  Administrative Agents as may be necessary for the Administrative Agents and  the U.S. Borrower (or the U.K. Borrower) to comply with their obligations  under FATCA, to determine whether such Lender has or has not complied with  such Lender’s FATCA obligations and to determine the amount, if any, to  deduct and withhold from such payment. Solely for purposes of this clause (iii),  “FATCA” shall include any amendments after the date of this Agreement.  (iv) Without limiting the effect of Sections 2.17(f)(i), (ii) and (iii) above:  (A) Subject to paragraph (B) below, a U.K. Treaty Lender and each  Loan Party which makes a payment to which that U.K. Treaty Lender is entitled  shall co-operate in completing any procedural formalities necessary for that Loan  Party to obtain authorization to make that payment without a U.K. Tax Deduction.  (B)   (1) A U.K. Treaty Lender which is a Lender on the Amendment  No. 3 Effective Date and that holds a passport under the HMRC DT Treaty  Passport scheme, and which wishes that scheme to apply to this Agreement,  shall confirm its scheme reference number and its jurisdiction of tax  residence opposite its name in Schedule 2.17(f); and  (2) a U.K. Treaty Lender which is not a Lender on the  Amendment No. 3 Effective Date and that holds a passport under the  HMRC DT Treaty Passport scheme, and which wishes that scheme to apply  to this Agreement, shall confirm its scheme reference number and its  jurisdiction of tax residence in the relevant Assignment and Assumption (or,  if such Lender becomes Lender otherwise than pursuant to an Assignment  

 

  134    3141/80492-001 CURRENT/130883173v17  #95685245v21   and Assumption, in the relevant documentation which it executes on  becoming a Lender under this Agreement),  and, having done so, that Lender shall be under no obligation pursuant to  paragraph (A) above.  (C) If a U.K. Treaty Lender has confirmed its scheme reference number  and its jurisdiction of tax residence in accordance with paragraph (B) above and:  (a) the U.K. Borrower making a payment to that Lender has not made a U.K.  Borrower DTTP Filing in respect of that Lender; or (b) the U.K. Borrower making  a payment to that Lender has made a U.K. Borrower DTTP Filing but (1) that U.K.  Borrower DTTP Filing has been rejected by HM Revenue & Customs; or (2) HM  Revenue & Customs have not given the U.K. Borrower authority to make payments  to that Lender without a U.K. Tax Deduction within sixty (60) days of the date of  the U.K. Borrower DTTP Filing, and in each case, the U.K. Borrower has notified  that Lender in writing, that Lender and the U.K. Borrower shall co-operate in  completing any procedural formalities necessary for the U.K. Borrower to obtain  authorization to make that payment without a U.K. Tax Deduction.  (D) If a U.K. Treaty Lender has not confirmed its scheme reference  number and jurisdiction of tax residence in accordance with paragraph (B) above,  the U.K. Borrower shall not make a U.K. Borrower DTTP Filing or file any other  form relating to the HM Revenue & Customs DT Treaty Passport scheme in respect  of that Lender’s Loan(s) unless that Lender otherwise agrees.  (E) The U.K. Borrower shall, promptly on making a U.K. Borrower  DTTP Filing, deliver a copy of that U.K. Borrower DTTP Filing to the applicable  Administrative Agent for delivery to the relevant U.K. Treaty Lender.   (F) A U.K. Non-Bank Lender which becomes a party to this Agreement  on the day on which this agreement is entered into gives a U.K. Tax Confirmation  by entering into this Agreement.  A U.K. Non-Bank Lender shall promptly notify  the Borrowers and the applicable Administrative Agent if there is any change in the  position from that set out in the U.K. Tax Confirmation.  (G) Each Lender in respect of the U.K. Borrower which becomes a party  to this Agreement after the Amendment No. 3 Effective Date shall indicate in the  Assignment and Assumption (or, if such Lender becomes Lender otherwise than  pursuant to an Assignment and Assumption, in the relevant documentation which  it executes on becoming a Lender under this Agreement) which of the following  categories it falls in: (A) not a U.K. Qualifying Lender; (B) a U.K. Qualifying  Lender (other than a U.K. Treaty Lender); or (C) a U.K. Treaty Lender (subject to  the completion of procedural formalities which are within the control of the relevant  Lender).  If a Lender fails to indicate its status in accordance with this paragraph  (G) then such Lender shall be treated for the purposes of this Agreement (including  by each Borrower) as if it is not a U.K. Qualifying Lender until such time as it  notifies the applicable Administrative Agent which category applies (and the  

 

  135    3141/80492-001 CURRENT/130883173v17  #95685245v21   Administrative Agent, upon receipt of such notification, shall inform each  Borrowers).  For the avoidance of doubt, any such Assignment and Assumption or  other relevant documentation shall not be invalidated by any such failure of a  Lender to comply with this paragraph (G).  (H) The U.K. Borrower shall promptly on becoming aware that a Loan  Party incorporated in the United Kingdom must make a U.K. Tax Deduction (or  that there is any change in the rate or basis of a U.K. Tax Deduction) notify the  applicable Administrative Agent accordingly.  Similarly, a Lender shall notify the  applicable Administrative Agent on becoming so aware in respect of a payment  payable to that Lender.  If the applicable Administrative Agent receives such  notification from a Lender it shall promptly notify the U.K. Borrower and that Loan  Party.  (v) Notwithstanding any other provision of this clause (f), a Lender  shall not be required to deliver any form that such Lender is not legally eligible  to deliver.  (g) If any Recipient determines, in its sole discretion (in good faith), that it has  received a refund of any Indemnified Taxes as to which it has been indemnified pursuant to this  Section 2.17 (including additional amounts paid by any Loan Party pursuant to this Section 2.17),  it shall promptly pay to the indemnifying party an amount equal to such refund (but only to the  extent of indemnity payments made under this Section 2.17 with respect to the Taxes giving rise  to such refund), net of all reasonable out-of-pocket expenses (including any Taxes) of such  Recipient and without interest (other than any interest paid by the relevant Governmental Authority  with respect to such refund), provided that the indemnifying party, upon the request of such  Recipient, shall repay to such Recipient the amount paid to such indemnifying party pursuant to  the previous sentence (plus any penalties, interest or other charges imposed by the relevant  Governmental Authority) in the event such Recipient is required to repay such refund to such  Governmental Authority.  This Section 2.17(g) shall not be construed to require any Recipient to  make available its Tax returns (or any other information relating to its Taxes that it deems  confidential) to any Loan Party or any other Person.  (h) On or before the date it becomes a party to this Agreement, any successor or  supplemental Administrative Agent that is not a U.S. Person, shall deliver to the U.S. Borrower  with respect to the Obligations two duly completed copies of IRS Form W-8IMY certifying that it  is a “U.S. branch” and that the payments are not effectively connected with the conduct of a trade  or business in the United States and that it is using such form as evidence of its agreement with  the U.S. Borrower to be treated as a U.S. Person with respect to such payments (and the U.S.  Borrower and the Administrative Agents agree to so treat such Administrative Agent as a U.S.  Person with respect to such payments as contemplated by Treasury Regulation Section 1.1441- 1(b)(2)(iv)(A)).  JPMorgan Chase Bank, N.A. as the Revolving Facility Administrative Agent and  the Tranche A Term Loan Administrative Agent, and any successor or supplemental  Administrative Agent that is a U.S. Person shall deliver to the U.S. Borrower two duly completed  copies of IRS Form W-9, or any subsequent versions or successors to such form, certifying that  such Administrative Agent is exempt from U.S. federal backup withholding. Notwithstanding  anything to the contrary, nothing in this Section 2.17(h) shall require Morgan Stanley Senior  

 

  136    3141/80492-001 CURRENT/130883173v17  #95685245v21   Funding, Inc., JPMorgan Chase Bank, N.A. or any successor or supplemental Administrative  Agent to deliver any form that it is not legally eligible to deliver as a result of any Change in Law  after the Restatement Date.  (i) For the avoidance of doubt, for purposes of this Section 2.17, the term “Lender”  includes any Issuing Bank.  (j) if in respect of a  Loan extended to the U.K. Borrower (A) a Lender assigns or  transfers any of its rights or obligations with respect to such Loan or changes its lending office in  respect of such Loan, and (B) as a result of circumstances existing at the date the assignment,  transfer or change occurs, the U.K. Borrower would be obliged to make a payment (or increased  payment) to the successor or assign or Lender acting through its new lending office under this  Section 2.17 in respect of a U.K. Tax Deduction, then such successor or assign or Lender acting  through its new lending office is only entitled to receive payment under this Section 2.17 to the  same extent as the assigning or transferring Lender or Lender acting through its previous lending  office would have been if the assignment, transfer or change had not occurred. This Section 2.17(j)  shall not apply in relation to Section 2.17(a) to a U.K. Treaty Lender that has included a  confirmation of its scheme reference number and its jurisdiction of tax residence in accordance  with this Agreement (provided the U.K. Borrower was notified of this confirmation at least ten  (10) days prior to the first Interest Payment Date on which interest would be paid to that U.K.  Treaty Lender) if the U.K. Borrower has not made a U.K. Borrower DTTP Filing in respect of that  U.K. Treaty Lender.  (k)   (A) All amounts expressed to be payable under any Loan Document by  any Loan Party to a Recipient, any Agent, any Joint Lead Arranger, any Joint  Bookrunner, any Documentation Agent or any Syndication Agent (each, for the  purposes of this paragraph 2.17(j), a “Finance Party”) which (in whole or in part)  constitute the consideration for any supply for VAT purposes are deemed to be  exclusive of any VAT which is chargeable on that supply, and accordingly, subject  to subsection (B) below, if VAT is or becomes chargeable on any supply made by  any Finance Party to any Loan Party under a Loan Document and such Finance  Party is required to account to the relevant tax authority for the VAT, that Loan  Party must pay to such Finance Party (in addition to and at the same time as paying  any other consideration for such supply) an amount equal to the amount of the VAT  (and such Finance Party must promptly provide an appropriate VAT invoice to that  Loan Party).  (B) If VAT is or becomes chargeable on any supply made by any  Finance Party (the “Supplier”) to any other Finance Party (the “VAT Recipient”)  under a Loan Document, and any Loan Party other than the VAT Recipient (the  “Relevant Party”) is required by the terms of any Loan Document to pay an amount  equal to the consideration for that supply to the Supplier (rather than being required  to reimburse or indemnify the VAT Recipient in respect of that consideration):  

 

  137    3141/80492-001 CURRENT/130883173v17  #95685245v21   (1)  (where the Supplier is the person required to account to the  relevant tax authority for the VAT) the Relevant Party must also pay to the  Supplier (at the same time as paying that amount) an additional amount  equal to the amount of the VAT. The VAT Recipient must (where this  paragraph (1) applies) promptly pay to the Relevant Party an amount equal  to any credit or repayment the VAT Recipient receives from the relevant  tax authority which the VAT Recipient reasonably determines relates to the  VAT chargeable on that supply; and  (2) (where the VAT Recipient is the person required to account  to the relevant tax authority for the VAT) the Relevant Party must promptly,  following demand from the VAT Recipient, pay to the VAT Recipient an  amount equal to the VAT chargeable on that supply but only to the extent  that the VAT Recipient reasonably determines that it is not entitled to credit  or repayment from the relevant tax authority in respect of that VAT.  (C) Where a Loan Document requires any Loan Party to reimburse or  indemnify a Finance Party for any cost or expense, that Loan Party shall reimburse  or indemnify (as the case may be) such Finance Party for the full amount of such  cost or expense, including such part thereof as represents VAT, save to the extent  that such Finance Party reasonably determines that it is entitled to credit or  repayment in respect of such VAT from the relevant tax authority.  (D) In relation to any supply made by a Finance Party to any Loan Party  under a Loan Document, if reasonably requested by such Finance Party, that Loan  Party must promptly provide such Finance Party with details of that Loan Party’s  VAT registration and such other information as is reasonably requested in  connection with such Finance Party’s VAT reporting requirements in relation to  such supply.  (E) Any reference in this section 2.17(j) to any party shall, at any time  when such party is treated as a member of a group for VAT purposes, include  (where appropriate and unless the context otherwise requires) a reference to the  person who is treated as making the supply or (as appropriate) receiving the supply  under the grouping rules (as provided for in Article 11 of the Council Directive  2006/112/EC (or as implemented by the relevant member state of the European  Union or any other similar provision in any jurisdiction which is not a member state  of the European Union)).  Section 2.18 Payments Generally; Pro Rata Treatment; Sharing of Setoffs.    (a) The Borrowers shall make each payment required to be made by them under any  Loan Document (whether of principal, interest, fees or reimbursement of LC Disbursements, or of  amounts payable under Section 2.15, Section 2.16, Section 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 p.m., New York City time, or, in the case of payments  denominated in an Alternative Currency, 9:00 a.m., New York City time), on the date when due,  

 

  138    3141/80492-001 CURRENT/130883173v17  #95685245v21   in immediately available funds, without setoff or counterclaim.  Except as otherwise expressly  provided herein and except with respect to principal of and interest on Loans denominated in an  Alternative Currency, all payments by the Borrowers hereunder shall be made to the applicable  Administrative Agent, for the account of the respective Lenders to which such payment is owed,  at the applicable Administrative Agent’s Office in Dollars and in same day funds not later than  12:00 p.m. on the date specified herein.  Except as otherwise expressly provided herein, all  payments by the Borrowers hereunder with respect to principal and interest on Loans denominated  in an Alternative Currency shall be made to the applicable Administrative Agent, for the account  of the respective Lenders to which such payment is owed, at the applicable Administrative Agent’s  Office in such Alternative Currency and in same day funds not later than the Applicable Time  specified by such Administrative Agent on the dates specified herein.  If, for any reason, a  Borrower is prohibited by any Law from making any required payment hereunder in an Alternative  Currency, such Borrower shall make such payment in Dollars in the Dollar Equivalent of the  Alternative Currency.  Any amounts received after such time on any date may, in the discretion of  the applicable Administrative 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 Administrative Agent’s Office, except payments to be made directly to the Issuing Bank  or Swingline Lender as expressly provided herein and except that payments pursuant to Section  2.11, Section 2.11(i), Section 2.12(d), Section 2.15, Section 2.16, Section 2.17 and Section 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 Revolving Facility Administrative  Agent shall distribute any such payments received by it for the account of any other Person to the  appropriate recipient promptly following receipt thereof.  Unless otherwise provided herein, 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.  All payments  under each Loan Document of principal or interest in respect of any Loan (or of any breakage  indemnity in respect of any Loan) shall be made in the currency of such Loan and, except as  otherwise set forth in any Loan Document, all other payments under each Loan Document shall  be made in Dollars.  (b) If at any time insufficient funds are received by and available to the Revolving  Facility Administrative 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, other than as provided elsewhere herein, any Lender shall, by exercising any  right of setoff or counterclaim or otherwise (including without limitation by receipt of amounts  from or in respect of any obligor, including the U.K. Borrower, pursuant to or in connection with  (A) any event, action or proceeding of the type referred to in clauses (h) or (i) of Section 7.01,  whether or not the U.K. Borrower is a Loan Party with respect to the Loans of such Class or other  relevant Obligations or such Lender is entitled to state a claim in such action or proceeding, (B)  

 

  139    3141/80492-001 CURRENT/130883173v17  #95685245v21   any liquidation, sale or other disposition of, or realization on, substantially all of the Collateral and  (C) any distribution by an Agent in connection with the foregoing clauses (A) and (B)), obtain  payment in respect of any principal of or interest on any of its Revolving Loans, Term 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 Revolving Loans, Term 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 Revolving Loans, Term 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 Revolving Loans of  the applicable Class, Term Loans of the applicable Class and participations in LC Disbursements  and Swingline Loans of the applicable Class, 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 (v) any payment or  prepayment made by or on behalf of the Borrowers or any other Loan Party pursuant to and in  accordance with the express terms of this Agreement (including the application of funds arising  from the existence of a Defaulting Lender), (w) the application of Cash Collateral provided in  Section 2.23 from time to time (including the application of funds arising from the existence of a  Defaulting Lender), (x) 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 to any assignee  or participant or the termination of any Lender’s commitment and non-pro rata repayment of Liens  pursuant to Section 2.19(b), (y) transactions in connection with an open market purchase or a  Dutch Auction, or (z) in connection with a transaction pursuant to an Extension Offer, Refinancing  Amendment or Incremental Facility Amendment or amendment in connection with Refinanced  Term Loans.  For the avoidance of doubt, this Section shall not limit the ability of any Borrower  or any Restricted Subsidiary to (i) purchase and retire Term Loans pursuant to an open market  purchase or a  Dutch Auction or (ii) pay principal, fees, premiums and interest with respect to  Other Revolving Loans, Other Term Loans, Refinanced Term Loans, Incremental Revolving  Loans or Incremental Term Loans following the effectiveness of any Refinancing Amendment,  any Extension Offer or Incremental Facility Amendment, as applicable, on a basis different from  the Loans of such Class that will continue to be held by Lenders that were not Extending Lenders  or Lenders pursuant to such Incremental Facility Amendment, as applicable.   (d) Unless the applicable Administrative Agent shall have received notice from a  Borrower prior to the date on which any payment is due to such Administrative Agent for the  account of the Lenders or the Issuing Bank, as applicable, hereunder that such Borrower will not  make such payment, such Administrative Agent may assume that such Borrower has made such  payment on such date in accordance herewith and may, in reliance upon such assumption and in  its sole discretion, distribute to the Lenders or the Issuing Bank, as the case may be, the amount  due.  In such event, if a Borrower has not in fact made such payment, then each of the Lenders or  the Issuing Bank, as the case may be, severally agrees to repay to the applicable Administrative  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 such Administrative Agent, at the greater of the Federal Funds Effective  

 

  140    3141/80492-001 CURRENT/130883173v17  #95685245v21   Rate and a rate determined by such Administrative Agent in accordance with banking industry  rules on interbank compensation.  (e) (i) If any Lender shall fail to make any payment required to be made by it pursuant  to Section 2.04(c), Section 2.05(d) or (e), Section 2.06(a) or (b), Section 2.18(d) or Section 9.03(c),  then the applicable Administrative Agent may, in its discretion (notwithstanding any contrary  provision hereof), apply any amounts thereafter received by such Administrative Agent for the  account of such Lender to satisfy such Lender’s obligations under such Sections until all such  unsatisfied obligations are fully paid and/or (ii) hold such amounts in a segregated account over  which such Administrative Agent shall have exclusive control as cash collateral for, and  application to, any future funding obligations of such Lender under any such Section, in the case  of each of clause (i) and (ii) above, in any order as determined by such Administrative Agent in its  discretion.  (f) For the avoidance of doubt and notwithstanding anything to the contrary contained  in this Agreement or any other Loan Document (including the Collateral Agreement and any other  Collateral documents), no payments or proceeds of Collateral or other amounts received by an  Agent or any Lender from the U.K. Borrower shall be applied, directly or indirectly, as payment  in respect of the U.S. Obligations or any other obligations (within the meaning of Code Section  956(c)) of the U.S. Loan Parties.  Section 2.19 Mitigation Obligations; Replacement of Lender    (a) If any Lender requests compensation under Section 2.15 or Section 2.17, or if a  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 lending office for funding or booking its Loans hereunder or to  assign 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 Section 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 be  inconsistent with its internal policies or otherwise be disadvantageous to such Lender. The  applicable Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender  in connection with any such designation or assignment.  (b) If any Lender requests compensation under Section 2.15 or Section 2.17, or if a  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, or if any Lender ceases to make Loans as  a result of any of the conditions in Section 2.14 or 2.15, or if any Lender becomes a Defaulting  Lender, then such Borrower may, at its sole expense and effort, upon notice to such Lender and  the applicable Administrative Agent, (1) terminate the unused Revolving Commitment of such  Lender and repay the Loans of such Lender on a non-pro rata basis, or (2) require such Lender  (and such Lender shall be obligated) to assign and delegate, without recourse (in accordance with  and subject to the restrictions contained in Section 9.04), all its interests, rights and obligations  under this Agreement to an assignee that shall assume such obligations (which assignee may be  another Lender, if a Lender accepts such assignment), provided that (i) such Lender shall have  received payment of an amount equal to the outstanding principal of its Loans and funded  

 

  141    3141/80492-001 CURRENT/130883173v17  #95685245v21   participations in LC Disbursements and Swingline Loans and, other than in the case of a Defaulting  Lender, accrued interest thereon, accrued fees and all other amounts payable to it hereunder from  the assignee (to the extent of such outstanding principal and accrued interest and fees) or such  Borrower (in the case of all other amounts), and (ii) 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.    (c) Any Lender being replaced pursuant to Section 2.19(b) above shall (i) execute and  deliver an Assignment and Assumption with respect to such Lender’s Commitment and  outstanding Loans and participations in LC Disbursements, as applicable (provided that the failure  of any such Lender to execute an Assignment and Assumption shall not render such assignment  invalid and such assignment shall be recorded in the Register) and (ii) deliver Notes, if any,  evidencing such Loans to the applicable Borrower or the applicable Administrative Agent.   Pursuant to such Assignment and Assumption, (A) the assignee Lender shall acquire all or a  portion, as the case may be, of the assigning Lender’s Commitments and outstanding Loans and  participations in LC Disbursements, as applicable, (B) all obligations of the Loan Parties owing to  the assigning Lender relating to the Loan Documents and participations so assigned shall be paid  in full by the assignee Lender or the Loan Parties (as applicable) to such assigning Lender  concurrently with such assignment and assumption, any amounts owing to the assigning Lender  (other than a Defaulting Lender) under Section 2.16 as a consequence of such assignment and (C)  upon such payment and, if so requested by the assignee Lender, the assignor Lender shall deliver  to the assignee Lender the appropriate Note or Notes executed by the applicable Borrower, the  assignee Lender shall become a Lender hereunder and the assigning Lender shall cease to  constitute a Lender hereunder with respect to such assigned Loans, Commitments and  participations, except with respect to indemnification provisions under this Agreement, which shall  survive as to such assigning Lender.  Section 2.20 Incremental Loans.    (a) At any time and from time to time prior to the Latest Maturity Date, subject to the  terms and express conditions set forth herein, any Borrower may by no less than three (3) Business  Days’ prior notice to the applicable Administrative Agent (or such lesser number of days  reasonably acceptable to such Administrative Agent), request to add one or more new credit  facilities (each, an “Incremental Facility”) denominated, in the case of any Incremental Term  Facility, in Dollars or, in the case of any Incremental Revolving Facility, at the option of the  applicable Borrower, in Dollars or any Alternative Currency, and consisting of one or more  additional tranches of term loans or an increase to an existing Class of Term Loans (each, an  “Incremental Term Facility”) or one or more additional tranches of revolving commitments or an  increase in an existing Class of Revolving Commitments (each, an “Incremental Revolving  Facility”), or a combination thereof, provided that (i) immediately before and after giving effect  to each Incremental Facility Amendment and the applicable Incremental Facility, no Event of  Default has occurred and is continuing or would result therefrom (except in the case that the  proceeds of any Incremental Loans are being used to finance a Permitted Acquisition or other  permitted Investments, in which case the standard will be (A) no Event of Default at the time of  entering into a definitive agreement with respect thereto and (B) no Event of Default under  Sections 7.01(a), (b), (h) or (i) on the date of incurrence thereof) and (ii) subject to the provisos to  

 

  142    3141/80492-001 CURRENT/130883173v17  #95685245v21   this sentence, immediately after giving effect to each Incremental Facility Amendment and the  applicable Incremental Facility, the Total Secured Net Leverage Ratio (excluding any concurrent  borrowings under the Revolving Credit Facility) computed on a Pro Forma Basis shall not exceed  3.00:1.00 or, if the proceeds of the Incremental Facilities will be used to finance a Permitted  Acquisition (or an Investment permitted hereunder) and such Incremental Facilities will be  unsecured, the Total Net Leverage Ratio computed on a Pro Forma Basis shall not exceed  4.75:1.00 (provided, however, that if the proceeds of Incremental Facilities will be used to finance  a Permitted Acquisition (or a similar Investment permitted hereunder), the Total Secured Net  Leverage Ratio or the Total Net Leverage Ratio, as applicable, shall be tested as of the date of  entering into a definitive written agreement with respect thereto) (assuming, solely for purposes of  this Section 2.20 at the time of incurrence and not for any other provision hereunder, that (I) all  Incremental Facilities, all Additional Term Notes and all Additional Debt secured by Liens under  Section 6.02(hh), in each case established on or prior to such date are (x) fully drawn and (y)  secured, whether or not so secured and (II) the proceeds of such Incremental Loans are not included  as unrestricted cash and Cash Equivalents in clause (i) of the definition of “Total Secured Net  Leverage Ratio”; provided that to the extent the proceeds of such Incremental Loans are to be used  to prepay Indebtedness, the use of such proceeds for the prepayment of such Indebtedness may be  given pro forma effect), provided that the financial incurrence test set forth in clause (ii) of this  paragraph (a) shall not apply to the incurrence of an aggregate principal amount of Indebtedness  under Incremental Facilities and Unrestricted Additional Term Notes after the Restatement Date  not to exceed an amount the Dollar Equivalent (calculated using the Exchange Rate on the date of  effectiveness of such Incremental Facility Amendment and Incremental Facility) of which equals  $750,000,000 plus the amount of any voluntary prepayments, debt buybacks, repurchases,  redemptions and other retirements, and payments by the Borrowers utilizing Section 9.02(c), of  the Term Loans and Other Applicable Indebtedness and voluntary permanent reductions of the  Revolving Commitments effected after the Restatement Date that are not financed with the  incurrence of Credit Agreement Refinancing Indebtedness and that do not reduce the amount of  any payment otherwise due pursuant to Section 2.11(d) by operation of the proviso to such clause  (such Indebtedness, the “Unrestricted Incremental First Lien Indebtedness”) (it being understood  and agreed that (I) the Borrowers shall designate any such Indebtedness as Unrestricted  Incremental First Lien Indebtedness on or prior to the date of such incurrence by notice to the  applicable Administrative Agent, (II) the Borrowers may redesignate any such Indebtedness  originally designated as Unrestricted Incremental First Lien Indebtedness if, at the time of such  redesignation, the Borrowers would be permitted to incur under this Section 2.20 the aggregate  principal amount of Indebtedness being so redesignated (for purposes of clarity, with any such  redesignation having the effect of increasing the Borrowers’ ability to incur Unrestricted  Incremental First Lien Indebtedness as of the date of such redesignation by the amount of such  Indebtedness so redesignated), (III) if any such Indebtedness is incurred as Unrestricted  Incremental First Lien Indebtedness, the Total Secured Net Leverage Ratio shall be permitted to  exceed the financial incurrence test set forth in clause (ii) of this paragraph (a) to the extent of such  amounts incurred as Unrestricted Incremental First Lien Indebtedness and (IV) the applicable  Borrower may elect to incur any Incremental Facilities under the financial incurrence test set forth  in clause (ii) of this paragraph (a) regardless of whether the applicable Borrower has the ability to  incur Unrestricted Incremental First Lien Indebtedness at such date of incurrence).  Each  Incremental Facility shall be in an integral multiple of $5,000,000 and be in an aggregate principal  amount that is not less than $25,000,000, provided that such amount may be less than $25,000,000  

 

  143    3141/80492-001 CURRENT/130883173v17  #95685245v21   and need not be in an integral multiple of $5,000,000 if such amount represents all the remaining  availability under the aggregate principal amount of Incremental Facilities set forth above.  (b) Each Incremental Term Facility (i) if made a part of an existing tranche of Term  Loans, shall have terms identical to those applicable to such Term Loans or (ii) if consisting of an  additional tranche of term loans shall have such terms as determined by the applicable Borrower  and the lenders providing such Incremental Term Facility; provided that (A) such Incremental  Term Facility shall rank pari passu in right of payment in respect of the Collateral with the Tranche  A-1 Term Loans and the Tranche A-2 Term Loans, (B) no Restricted Subsidiary is a borrower or  a guarantor with respect to such Indebtedness unless such Restricted Subsidiary is a Loan Party  which shall have previously or substantially concurrently guaranteed or borrowed, as applicable,  the Obligations, (C) no Incremental Term Facility shall have a final maturity date earlier than  and/or Weighted Average Life to Maturity that is shorter than the final maturity date and/or  Weighted Average Life to Maturity of the then-remaining Tranche A-1 Term Loans or Tranche  A-2 Term Loans (without giving effect to nominal amortization for periods where amortization  has been eliminated as a result of a prepayment of the applicable Tranche A-1 Term Loans or  Tranche A-2 Term Loans), (D) for purposes of prepayments, shall be treated no more favorably  than the Tranche A-1 Term Loans or Tranche A-2 Term Loans of the Borrowers (as applicable)  except those that only apply after the then existing Latest Maturity Date with respect to Term  Loans, and (E) the covenants, events of default and guarantees (other than maturity fees, discounts,  interest rate, redemption terms and redemption premiums) of such Incremental Term Loans, if not  consistent with the terms of the Term Loans, shall not be materially more restrictive to the Loan  Parties (as determined in good faith by the applicable Borrower), when taken as a whole, than the  terms of the Term Loans unless (x) the Lenders of the Term Loans receive the benefit of such more  restrictive terms or (y) any such provisions apply only after the applicable Term Loan Maturity  Date.  (c) Each Incremental Revolving Facility (i) if made a part of the existing tranche of  Initial Revolving Commitments shall have terms identical to those applicable to such Class of  Initial Revolving Commitments or (ii) if consisting of an additional tranche of revolving loans and  commitments shall be subject to substantially the same terms as the Initial Revolving  Commitments (other than pricing, fees, maturity and other immaterial terms which shall be  determined by the applicable Borrower and the lenders providing such Incremental Revolving  Facility); provided that no Incremental Revolving Facility shall have a final maturity date earlier  than the then existing Latest Maturity Date with respect to Revolving Commitments.  (d) Each notice from a Borrower pursuant to this Section shall set forth the requested  amount and proposed terms of the relevant Incremental Facility.  Any additional bank, financial  institution, existing Lender or other Person that elects to provide Commitments under an  Incremental Facility shall be reasonably satisfactory to the applicable Borrower and, in the case of  any Incremental Revolving Facility and, to the extent such consent would be required for an  assignment of such Loans or Commitments pursuant to Section 9.04, the Issuing Bank (such  consent not to be unreasonably withheld, delayed or conditioned) (any such bank, financial  institution, existing Lender or other Person being called an “Additional Lender”) and, if not already  a Lender, shall become a Lender under this Agreement pursuant to an amendment (an “Incremental  Facility Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed  

 

  144    3141/80492-001 CURRENT/130883173v17  #95685245v21   by the applicable Borrower, such Additional Lender (in the case of this Agreement and, as  appropriate, any other Loan Document, as applicable) and (to the extent it directly adversely  amends or modifies the rights or duties of any Administrative Agent and/or the Collateral Agent,  each Administrative Agent and/or the Collateral Agent).  No Lender shall be obligated to provide  any Commitments under an Incremental Facility, unless it so agrees.  Commitments in respect of  any Incremental Facilities shall become Commitments under this Agreement.  An Incremental  Facility Amendment may, without the consent of any other Lenders, effect such amendments to  any Loan Documents as may be necessary, advisable or appropriate, in the reasonable opinion of  the Administrative Agents and the applicable Borrower, to effect the provisions of this Section  (including to provide for voting provisions applicable to the Additional Lenders comparable to the  provisions of clause (B) of the second proviso of Section 9.02(b)).  The effectiveness of any  Incremental Facility Amendment shall, unless otherwise agreed to by the Additional Lenders, be  subject to the satisfaction (or waiver) on the date thereof (each, an “Incremental Facility Closing  Date”) of the express conditions in respect of such Incremental Facility Amendment to be mutually  agreed upon by the Additional Lenders and the applicable Borrower customary for transactions of  the type in respect of which the applicable Incremental Facility relates.  The proceeds of any Loans  under an Incremental Facility will be used, directly or indirectly, for working capital and/or general  corporate purposes and/or any other purposes not prohibited hereunder (including, without  limitation, Restricted Payments, Acquisitions and other Investments).  This Section 2.20 shall  supersede any provisions in Section 2.11, Section 2.18 and Section 9.02 to the contrary.    (e) Upon each increase in the Revolving Commitments under any  Revolving Credit  Facility pursuant to this Section 2.20, each Revolving Lender immediately prior to such increase  will automatically and without further act be deemed to have assigned to each Lender providing a  portion of the Incremental Revolving Commitment (each, an “Incremental Revolving Lender”) in  respect of such increase, and each such Incremental Revolving Lender will automatically and  without further act be deemed to have assumed, a portion of such Revolving Lender’s  participations hereunder in outstanding Letters of Credit under such Revolving Credit Facility such  that, after giving effect to each such deemed assignment and assumption of participations, the  percentage of the aggregate outstanding participations hereunder in such Letters of Credit under  such Revolving Credit Facility held by each Revolving Lender (including each such Incremental  Revolving Lender), as applicable, will equal the percentage of the aggregate Revolving  Commitments of all Revolving Lenders under such Revolving Credit Facility.  Additionally, if any  Revolving Loans are outstanding under a Revolving Credit Facility at the time any Incremental  Revolving Commitments are established, the applicable Revolving Lenders immediately after  effectiveness of such Incremental Revolving Commitments shall purchase and assign at par such  amounts of the Revolving Loans outstanding under such Revolving Credit Facility at such time as  the Revolving Facility Administrative Agent may require such that each Revolving Lender holds  its Applicable Percentage of all Revolving Loans outstanding under such Revolving Credit Facility  immediately after giving effect to all such assignments.  The Revolving Facility Administrative  Agent and the Lenders hereby agree that the minimum borrowing, pro rata borrowing and pro rata  payment requirements contained elsewhere in this Agreement shall not apply to the transactions  effected pursuant to the immediately preceding sentence.  Section 2.21 Refinancing Amendments.  At any time after the Restatement Date,  any Borrower may obtain from any existing Lender or any other Person reasonably satisfactory  

 

  145    3141/80492-001 CURRENT/130883173v17  #95685245v21   to such Borrower and, in the case of any Other Revolving Commitments, to the extent such  consent would be required for an assignment of such Loans or Commitments pursuant to Section  9.04, the Issuing Bank (any such existing Lender or other Person being called an “Additional  Refinancing Lender”), Credit Agreement Refinancing Indebtedness in respect of (a) all or any  portion of any Class of Term Loans then outstanding under this Agreement (which for purposes  of this clause (a) will be deemed to include any then outstanding Other Term Loans constituting  Term Loans) or (b) all or any portion of the Revolving Commitments (including the  corresponding portion of the Revolving Loans) under this Agreement (which for purposes of this  clause (b) will be deemed to include any then outstanding Other Revolving Commitments  (including the corresponding portion of the Other Revolving Loans)), in the form of Other Term  Loans, Other Revolving Loans or Other Revolving Commitments in the case of clauses (a) and  (b), in each case pursuant to a Refinancing Amendment; provided that (i) such Credit Agreement  Refinancing Indebtedness shall rank pari passu or junior in right of payment and of security with  the other Loans and Commitments hereunder, (ii) such Credit Agreement Refinancing  Indebtedness shall have such pricing, interest, fees, premiums and optional prepayment and  redemption terms as may be agreed by the applicable Borrower and the Additional Refinancing  Lenders thereof, (iii) such Credit Agreement Refinancing Indebtedness shall only be secured by  assets consisting of Collateral, (iv) the covenants, events of default and guarantees of such Credit  Agreement Refinancing Indebtedness (other than pricing, interest, fees, premiums and optional  prepayment), if not consistent with the terms of the Class of Term Loans refinanced, shall not be  materially more restrictive to the Loan Parties (as determined in good faith by the applicable  Borrower), when taken as a whole, than the terms of such Class of Term Loans unless (x) the  Lenders of such Class of Term Loans receive the benefit of such more restrictive terms or (y)  any such provisions apply after the applicable Term Loan Maturity Date, (v) such Credit  Agreement Refinancing Indebtedness satisfies the requirements set forth in clauses (w) through  (z) of the definition of “Credit Agreement Refinancing Indebtedness,” and (vi) if such Credit  Agreement Refinancing Indebtedness is secured on a junior basis to the Term Loans, the  Collateral Agent acting on behalf of the holders of such Indebtedness shall have become party  to a Second Lien Intercreditor Agreement; provided that if such Second Lien Intercreditor has  not previously been executed and delivered, then the U.S. Borrower, the Subsidiary Loan Parties,  the Collateral Agent on behalf of the Secured Parties and on behalf of the holders of such Credit  Agreement Refinancing Indebtedness shall have executed and delivered the Second Lien  Intercreditor Agreement.  The effectiveness of any Refinancing Amendment shall be subject to  such express conditions as are mutually agreed with the participating Additional Refinancing  Lenders.  Each Class of Credit Agreement Refinancing Indebtedness (other than in connection  with an extension of the maturity of a Class of Term Loans, Revolving Loans or Revolving  Commitments) incurred under this Section 2.21 shall be in an integral multiple of $1,000,000  and be in an aggregate principal amount that is not less than $25,000,000, provided that such  amount may be less than $25,000,000 if such amount represents all the remaining availability  under the aggregate principal amount of Credit Agreement Refinancing Indebtedness set forth  above.  Subject to the consent of the Issuing Banks, any Refinancing Amendment may provide  for the issuance of Letters of Credit for the account of the U.S. Borrower pursuant to any Other  Revolving Commitments established thereby on terms substantially equivalent to the terms  applicable to Letters of Credit under this Agreement before giving effect to such Refinancing  Amendment.  The Administrative Agents shall promptly notify each Lender as to the  effectiveness of each Refinancing Amendment.  Each of the parties hereto hereby agrees that,  

 

  146    3141/80492-001 CURRENT/130883173v17  #95685245v21   upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed  amended to the extent (but only to the extent) necessary or reasonably advisable to reflect the  existence and terms of the Credit Agreement Refinancing Indebtedness incurred pursuant thereto  (including any amendments necessary to treat the Loans and Commitments subject thereto as  Other Term Loans, Other Revolving Loans, Other Revolving Commitments and/or Other Term  Commitments).  Any Refinancing Amendment may, without the consent of any other Lenders,  effect such amendments to this Agreement and the other Loan Documents as may be necessary,  or reasonably advisable or appropriate, in the reasonable opinion of the Administrative Agents  and the applicable Borrower, to effect the provisions of this Section.  This Section 2.21 shall  supersede any provisions in Section 2.18 and Section 9.02 to the contrary.  Notwithstanding  anything to the contrary in this Section 2.21 or otherwise, (1) the borrowing and repayment  (except for (A) payments of interest and fees at different rates on Other Revolving Commitments  (and related outstandings), (B) repayments required upon the maturity date of the Other  Revolving Commitments and (C) repayment made in connection with a permanent repayment  and termination of commitments) of Loans with respect to Other Revolving Commitments after  the date of obtaining any Other Revolving Commitments shall be made on at least a pro rata  basis with all other Revolving Commitments, (2) subject to the provisions of Section 2.05(o) to  the extent dealing with Letters of Credit which mature or expire after a maturity date when there  exist Other Revolving Commitments with a longer maturity date and subject to the consent of  the Issuing Bank, all Letters of Credit shall be participated on a pro rata basis by all Revolving  Lenders in accordance with all other Revolving Commitments (and except as provided in Section  2.05(o), without giving effect to changes thereto on an earlier maturity date with respect to  Letters of Credit theretofore incurred or issued), (3) the permanent repayment of Revolving  Loans with respect to, and termination of, Other Revolving Commitments after the date of  obtaining any Other Revolving Commitments shall be made on at least a pro rata basis with all  other Revolving Commitments, except that the applicable Borrower shall be permitted to  permanently repay and terminate commitments of any such Class on a non-pro rata basis as  compared to any other Class with a later maturity date than such Class and (4) assignments and  participations of Other Revolving Commitments and Other Revolving Loans shall be governed  by the same assignment and participation provisions applicable to Revolving Commitments and  Revolving Loans.  Section 2.22 Defaulting Lenders.  (a) Adjustments.  Notwithstanding anything to the contrary contained in this  Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no  longer a Defaulting Lender, to the extent permitted by applicable law:  (i) Waivers and Amendments.  That Defaulting Lender’s right to  approve or disapprove any amendment, waiver or consent with respect to this  Agreement shall be restricted as set forth in Section 9.02.  (ii) Reallocation of Payments.  Any payment of principal, interest, fees,  indemnity payments or other amounts received by the applicable  Administrative Agent for the account of that Defaulting Lender (whether  voluntary or mandatory, at maturity, pursuant to Article VII or otherwise, and  including any amounts made available to such Administrative Agent by that  

 

  147    3141/80492-001 CURRENT/130883173v17  #95685245v21   Defaulting Lender pursuant to Section 9.08), shall be applied at such time or  times as may be determined by such Administrative Agent as follows: first, to  the payment of any amounts owing by that Defaulting Lender to applicable  Administrative Agent hereunder; second, to the payment on a pro rata basis of  any amounts owing by that Defaulting Lender to the Issuing Bank; third, if so  determined by the Revolving Facility Administrative Agent or requested by the  Issuing Bank, to be held as Cash Collateral for future funding obligations of  that Defaulting Lender of any participation in any Letter of Credit; fourth, as  the Borrowers may request, to the funding of any Loan in respect of which that  Defaulting Lender has failed to fund its portion thereof as required by this  Agreement; fifth, if so determined by the Administrative Agents and the  Borrowers, to be held in a non-interest bearing deposit account and released in  order to satisfy obligations of that Defaulting Lender to fund Loans under this  Agreement; sixth, to the payment of any amounts owing to the Lenders or the  Issuing Bank as a result of any judgment of a court of competent jurisdiction  obtained by any Lender or the Issuing Bank against that Defaulting Lender as a  result of that Defaulting Lender’s breach of its obligations under this  Agreement; seventh, to the payment of any amounts owing to the Borrowers as  a result of any judgment of a court of competent jurisdiction obtained by the  Borrowers against that Defaulting Lender as a result of that Defaulting Lender’s  breach of its obligations under this Agreement; and eighth, to that Defaulting  Lender or as otherwise directed by a court of competent jurisdiction; provided  that if (x) such payment is a payment of the principal amount of any Loans or  LC Disbursement in respect of which that Defaulting Lender has not fully  funded its appropriate share and (y) such Loans or LC Disbursements were  made at a time when the conditions set forth in Section 4.01 were satisfied or  waived, such payment shall be applied solely to pay the Loans of, and LC  Disbursements owed to, all non- Defaulting Lenders on a pro rata basis prior to  being applied to the payment of any Loans of, or LC Disbursements owed to,  that Defaulting Lender. Any payments, prepayments or other amounts paid or  payable to a Defaulting Lender that are applied (or held) to pay amounts owed  by a Defaulting Lender or to post Cash Collateral pursuant to this Section  2.22(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender,  and each Lender irrevocably consents hereto.  (iii)Certain Fees.  That Defaulting Lender shall not be entitled to receive  any commitment fee pursuant to Section 2.12(a) or any default rate of interest  pursuant to Section 2.13(c), in each case, for any period during which that  Lender is a Defaulting Lender and (A) if the participations in Letters of Credit  and Swingline Loans are reallocated pursuant to clause (iv) below, then the fees  payable to the Lenders pursuant to Sections 2.12(a) and (b) shall be adjusted to  reflect the higher amounts of such participations allocated to such Lenders, and  (B) if all or any portion of such Defaulting Lender’s LC Exposure or Swingline  Exposure is neither reallocated pursuant to clause (iv) below nor Cash  Collateralized pursuant to Section 2.23, then, without prejudice to any rights or  remedies of the Issuing Bank or any other Lender hereunder, all letter of credit  

 

  148    3141/80492-001 CURRENT/130883173v17  #95685245v21   fees payable under Section 2.12(c) with respect to such Defaulting Lender’s LC  Exposure shall be payable to the Issuing Bank until and to the extent that such  LC Exposure is reallocated and/or Cash Collateralized.  (iv) Reallocation of Pro Rata Shares to Reduce LC Exposure and  Swingline Exposure.  During any period in which there is a Defaulting Lender  with a Revolving Commitment, for purposes of computing the amount of the  obligation of each non-Defaulting Lender to acquire, refinance or fund  participations in Letters of Credit, the “Applicable Percentage” of each non- Defaulting Lender with a Revolving Commitment, shall be computed without  giving effect to the Revolving Commitment of that Defaulting Lender, and such  obligation to so acquire, refinance or fund participations in such Letters of  Credit or Swingline Loans, as applicable, shall automatically be reallocated  among the non-Defaulting Lenders with Revolving Commitments upon such  Defaulting Lender becoming a Defaulting Lender; provided that the aggregate  obligation of each non-Defaulting Lender to acquire, refinance or fund  participations in such Letters of Credit or Swingline Loans, as applicable, shall  not exceed the positive difference, if any, of (1) the Revolving Commitment, as  applicable, of that non-Defaulting Lender minus (2) the aggregate outstanding  amount of the Revolving Loans of that Lender.  Subject to Section 9.19, no  reallocation hereunder shall constitute a waiver or release of any claim of any  party hereunder against a Defaulting Lender with a Revolving Commitment  arising from that Lender having become a Defaulting Lender, including any  claim of a non-Defaulting Revolving Lender as a result of such Non-Defaulting  Lender’s increased exposure following such reallocation.  (v) So long as such Lender is a Defaulting Lender, the Swingline Lender  shall not be required to fund any Swingline Loan and the Issuing Bank shall not  be required to issue, amend, increase, renew or extend any Letter of Credit,  unless it has received assurances satisfactory to it that non-Defaulting Lenders  will cover the related exposure in accordance with this Section 2.22 and/or Cash  Collateral will be provided by the U.S. Borrower in accordance with Section  2.23, and participating interests in any newly made Swingline Loan or any  newly issued or increased Letter of Credit shall be allocated among non- Defaulting Lenders in a manner consistent with Section 2.22(a)(iv) (and such  Defaulting Lender shall not participate therein).  If (i) a Bankruptcy Event with respect to a parent of any Lender shall occur  following the date hereof and for so long as such event shall continue or (ii) the Swingline  Lender or the Issuing Bank has a good faith belief that any Lender has defaulted in fulfilling  its obligations under one or more other agreements in which such Lender commits to  extend credit, the Swingline Lender shall not be required to fund any Swingline Loan and  the Issuing Bank shall not be required to issue, amend or increase any Letter of Credit,  unless the Swingline Lender or the Issuing Bank, as the case may be, shall have entered  into arrangements with the applicable Borrower or such Lender, satisfactory to the  

 

  149    3141/80492-001 CURRENT/130883173v17  #95685245v21   Swingline Lender or the Issuing Bank, as the case may be, to defease any risk to it in respect  of such Lender hereunder.  (b) Defaulting Lender Cure.  If the Borrowers, each Administrative Agent, the  Swingline Lender and the Issuing Bank agree in writing in their sole discretion that a Defaulting  Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agents will so  notify the parties hereto, whereupon as of the effective date specified in such notice and subject to  any conditions set forth therein (which may include arrangements with respect to any Cash  Collateral), that Lender will, to the extent applicable, purchase that portion of outstanding Loans  of the other Lenders or take such other actions as the Administrative Agents may determine to be  necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be  held on a pro rata basis by the Lenders in accordance with their Applicable Percentage without  giving effect to Section 2.22(a)(iv), whereupon that Lender will cease to be a Defaulting Lender;  provided that no adjustments will be made retroactively with respect to fees accrued or payments  made by or on behalf of the Borrowers while that Lender was a Defaulting Lender; and provided,  further, that except to the extent otherwise expressly agreed by the affected parties, no change  hereunder from Defaulting Lender to non-Defaulting Lender will constitute a waiver or release of  any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.  (c) So long as such Lender is a Defaulting Lender, the Issuing Bank shall not be  required to issue, amend, increase, renew or extend any Letter of Credit, unless it has received  assurances satisfactory to it that non-Defaulting Lenders will cover the related exposure in  accordance with this Section 2.22 and/or Cash Collateral will be provided by the U.S. Borrower  in accordance with Section 2.23, and participating interests in any newly issued or increased Letter  of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with Section  2.22(a)(iv) (and such Defaulting Lender shall not participate therein).  Section 2.23 Cash Collateral.  (a) Certain Credit Support Events.  If, as of the date of termination of all Revolving  Commitments, any LC Exposure for any reason remains outstanding, the U.S. Borrower shall  promptly provide Cash Collateral in an amount equal to 103% of the then outstanding amount of  all LC Exposure.  At any time that there shall exist a Defaulting Lender, on the Business Day  following the written request of the Revolving Facility Administrative Agent, the U.S. Borrower  shall deliver to the Revolving Facility Administrative Agent Cash Collateral in an amount equal  to 103% of all LC Exposure (after giving effect to Section 2.22(a)(iv) and any Cash Collateral  provided by such Defaulting Lender). If at any time the Revolving Facility Administrative Agent  determines that any funds held as Cash Collateral are subject to any right or claim of any Person  other than the Revolving Facility Administrative Agent or that the total amount of such funds is  less than the aggregate outstanding amount of all LC Exposure in respect of the U.S. Borrower,  the U.S. Borrower will, within three (3) Business Days of written demand by the Revolving  Facility Administrative Agent, pay to the Revolving Facility Administrative Agent, as additional  funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate  outstanding amount over (y) the total amount of funds, if any, then held as Cash Collateral to  secure such LC Exposure that the Revolving Facility Administrative Agent determines to be free  and clear of any such right and claim.  Upon the drawing of any Letter of Credit for which funds  

 

  150    3141/80492-001 CURRENT/130883173v17  #95685245v21   are on deposit as Cash Collateral, such funds shall be applied, to the extent permitted under  applicable laws, to reimburse the Issuing Bank.  (b) Grant of Security Interest.  All Cash Collateral (other than credit support not  constituting funds subject to deposit) shall be maintained in one or more blocked, non-interest- bearing deposit and/or securities accounts with or established by the Revolving Facility  Administrative Agent.  The U.S. Borrower, and to the extent provided by any Lender, such Lender,  hereby grants to (and subjects to the control of) the Revolving Facility Administrative Agent, for  the benefit of the Revolving Facility Administrative Agent, the Issuing Bank and the applicable  Revolving Lenders, and agrees to maintain, a first priority security interest (subject to Liens of the  type permitted by Section 6.02) in all such cash, Cash Equivalents, deposit and/or securities  accounts and all balances therein, and all other property so provided as collateral pursuant hereto,  and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral  may be applied pursuant to Section 2.23(c).  If at any time the Revolving Facility Administrative  Agent determines that Cash Collateral is subject to any non-permitted right or claim of any Person  other than the Revolving Facility Administrative Agent as herein provided, or that the total amount  of such Cash Collateral is less than 103% of the applicable LC Exposure and other obligations  secured thereby, the U.S. Borrower or the relevant Defaulting Lender will, promptly following  written demand by the Revolving Facility Administrative Agent, pay or provide to such  Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such  deficiency.  (c) Application.  Notwithstanding anything to the contrary contained in this  Agreement, Cash Collateral provided under this Section 2.23 or otherwise in respect of Letters of  Credit shall be held and applied to the satisfaction of the specific LC Disbursement, obligations to  fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any  interest accrued on such obligation) and other obligations for which the Cash Collateral was so  provided, prior to any other application of such property as may be provided for herein.  (d) Release.  Cash Collateral (or the appropriate portion thereof) provided to reduce  LC Exposure or other obligations shall be released promptly following (i) the elimination of the  applicable LC Exposure or other obligations giving rise thereto (including by the termination of  Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee) or (ii) the  Revolving Facility Administrative Agent’s good faith determination that there exists excess Cash  Collateral; provided, however, that (x) Cash Collateral furnished by or on behalf of a Loan Party  shall not be released during the continuance of an Event of Default and (y) the Person providing  Cash Collateral and the Issuing Bank may agree that Cash Collateral shall not be released but  instead held to support future anticipated LC Exposure or other obligations.  Section 2.24 Extensions of Term Loans and Revolving Commitments.  (a) Notwithstanding anything to the contrary in this Agreement, pursuant to one or  more offers (each, an “Extension Offer”) made from time to time by (i) the applicable Borrower  to all Lenders of Term Loans of the applicable Class with a like maturity date or (ii) the applicable  Borrower to all Lenders with Revolving Commitments of the applicable Class with a like maturity  date, in each case on a pro rata basis (based on the aggregate outstanding principal amount of the  respective Term Loans or Revolving Commitments with a like maturity date, as the case may be)  

 

  151    3141/80492-001 CURRENT/130883173v17  #95685245v21   and offered on the same terms to each such Lender, the applicable Borrower is hereby permitted  to consummate from time to time transactions with individual Lenders that accept the terms  contained in such Extension Offers to extend the maturity date of each such Lender’s Term Loans  and/or Revolving Commitments and otherwise modify the terms of such Term Loans and/or  Revolving Commitments pursuant to the terms of the relevant Extension Offer (including, without  limitation, by increasing the interest rate, premiums or fees payable in respect of such Term Loans  and/or Revolving Commitments (and related outstandings) and/or modifying the amortization  schedule, optional prepayment terms, required prepayment dates and participation in prepayments  in respect of such Lender’s Term Loans) (each, an “Extension”, and each group of Term Loans or  Revolving Commitments, as applicable, in each case as so extended, as well as the Initial Tranche  A-1 Term Loans, the Initial Tranche A-2 Term Loans and the Initial Revolving Commitments (in  each case not so extended), being a separate Class; any Extended Term Loans shall constitute a  separate Class of Term Loans from the Class of Term Loans from which they were converted, and  any Extended Revolving Commitments shall constitute a separate Class of Revolving  Commitments from the Class of Revolving Commitments from which they were converted), so  long as the following terms are satisfied (or waived):   (i) except as to interest rates, fees, premiums, amortization,  prepayments, AHYDO Catch-Up Payments and final maturity (which shall be  determined by the applicable Borrower and set forth in the relevant Extension  Offer and which shall be no earlier than the maturity date of the Class of  Revolving Commitments for which such Extension Offer was made), the  Revolving Commitment of any Revolving Loan Lender that agrees to an  Extension with respect to such Revolving Commitment (an “Extending  Revolving Loan Lender”) extended pursuant to an Extension (an “Extended  Revolving Commitment” and the loans made pursuant thereto, the “Extended  Revolving Loans”), and the related outstandings, shall have covenants, events  of default and guarantees, if not consistent with the terms of the Revolving  Commitments, which shall not be materially more restrictive to the Loan Parties  (as determined in good faith by the applicable Borrower), when taken as a  whole, than the terms of the Revolving Commitment unless (x) the Revolving  Lenders receive the benefit of such more restrictive terms or (y) any such  provisions apply after the Revolving Maturity Date (as determined in good faith  by the applicable Borrower); provided that (1) the borrowing and repayment  (except for (A) payments of interest and fees at different rates on Extended  Revolving Commitments (and related outstandings), (B) repayments required  upon the maturity date of the non-extended Revolving Commitments and (C)  repayments made in connection with a permanent repayment and termination  of commitments) of Loans with respect to Extended Revolving Commitments  after the applicable Extension date shall be made on a pro rata basis or less with  all other Revolving Commitments, (2) all Letters of Credit shall be participated  on a pro rata basis or less by all Lenders with Revolving Commitments in  accordance with their percentage of the Revolving Commitments, (3) the  permanent repayment of Revolving Loans with respect to, and termination of,  Extended Revolving Commitments after the applicable Extension date shall be  made on a pro rata basis with all other Revolving Commitments, except that the  

 

  152    3141/80492-001 CURRENT/130883173v17  #95685245v21   applicable Borrower shall be permitted to permanently repay and terminate  commitments of any such Class on a non-pro rata basis as compared to any  other Class with a later maturity date than such Class, (4) assignments and  participations of Extended Revolving Commitments and Extended Revolving  Loans shall be governed by the same assignment and participation provisions  applicable to Revolving Commitments and Revolving Loans and (5) at no time  shall there be Revolving Commitments hereunder (including Extended  Revolving Commitments and any Initial Revolving Commitments) which have  more than four different maturity dates,   (ii) except as to interest rates, fees, premiums, amortization,  prepayments, AHYDO Catch-Up Payments and final maturity (which shall,  subject to the immediately succeeding clauses (iv) and (v), be determined by  the applicable Borrower and set forth in the relevant Extension Offer), the Term  Loans of any Term Lender that agrees to an Extension with respect to such  Term Loans (an “Extending Term Lender”, and together with Extending  Revolving Loan Lenders, “Extending Lenders”) extended pursuant to any  Extension (“Extended Term Loans”) shall have covenants, events of default and  guarantees, if not consistent with the terms of the Term Loans, which shall not  be materially more restrictive to the Loan Parties (as determined in good faith  by the applicable Borrower), when taken as a whole, than the terms of the Term  Loans unless (x) the Lenders of the Term Loans receive the benefit of such  more restrictive terms or (y) any such provisions apply after the Term Loan  Maturity Date),   (iii)the final maturity date of any Extended Term Loans shall be no  earlier than the Term Loan Maturity Date of the Class of Term Loans for which  such Extension Offer was made and at no time shall the Term Loans (including  Extended Term Loans) have more than six different maturity dates,   (iv) the Weighted Average Life to Maturity of any Extended Term Loans  shall be no shorter than the remaining Weighted Average Life to Maturity of  the Term Loans extended thereby (without giving effect to nominal  amortization for periods where amortization has been eliminated as a result of  a prepayment of the applicable Term Loans),   (v) if the aggregate principal amount of Term Loans (calculated on the  face amount thereof) or Revolving Commitments, as the case may be, in respect  of which Term Lenders or Revolving Lenders, as the case may be, shall have  accepted the relevant Extension Offer shall exceed the maximum aggregate  principal amount of Term Loans or Revolving Commitments, as the case may  be, offered to be extended by the applicable Borrower pursuant to such  Extension Offer, then the Term Loans or Revolving Loans, as the case may be,  of such Term Lenders or Revolving Lenders, as the case may be, shall be  extended ratably up to such maximum amount based on the respective principal  amounts (but not to exceed actual holdings of record) with respect to which  

 

  153    3141/80492-001 CURRENT/130883173v17  #95685245v21   such Term Lenders or Revolving Lenders, as the case may be, have accepted  such Extension Offer,   (vi) all documentation in respect of such Extension shall be consistent  with the foregoing, and   (vii) any applicable Minimum Extension Condition shall be  satisfied unless waived by the applicable Borrower.  (b) With respect to all Extensions consummated by the Borrowers pursuant to this  Section 2.24, (i) such Extensions shall not constitute voluntary or mandatory payments or  prepayments for purposes of Section 2.11 and (ii) no Extension Offer is required to be in any  minimum amount or any minimum increment, provided that the applicable Borrower may at its  election specify as a condition (a “Minimum Extension Condition”) to consummating any such  Extension that a minimum amount (to be determined and specified in the relevant Extension Offer  in the applicable Borrower’s sole discretion and may be waived by the applicable Borrower) of  Term Loans or Revolving Commitments (as applicable) of any or all applicable Classes be  tendered.  The Administrative Agents and the Lenders hereby consent to the consummation of the  transactions contemplated by this Section 2.24 (including, for the avoidance of doubt, payment of  any interest, fees or premium in respect of any Extended Term Loans and/or Extended Revolving  Commitments on such terms as may be set forth in the relevant Extension Offer) and hereby waive  the requirements of any provision of this Agreement (including, without limitation, any pro rata  payment or amendment section) or any other Loan Document that may otherwise prohibit or  restrict any such Extension or any other transaction contemplated by this Section 2.24.  (c) No consent of any Lender or any Agent shall be required to effectuate any  Extension, other than (i) the consent of each Lender agreeing to such Extension with respect to  one or more of its Term Loans and/or Revolving Commitments (or a portion thereof), (ii) with  respect to any Extension of the Revolving Commitments, the consent of each Issuing Bank and  (iii) to the extent directly adversely amending or modifying the rights or duties of any  Administrative Agent beyond those of the type already required to perform under the Loan  Documents, each Administrative Agent, which consent shall not be unreasonably withheld or  delayed; provided that the applicable Borrower will promptly notify each Administrative Agent of  any such Extensions.  All Extended Term Loans, Extended Revolving Commitments and all  obligations in respect thereof shall be Obligations under this Agreement and the other Loan  Documents that are secured by the Collateral on a pari passu basis with all other applicable  Obligations under this Agreement and the other Loan Documents. The Lenders hereby irrevocably  authorize the Administrative Agents and, to the extent applicable, the Collateral Agent, to enter  into amendments to this Agreement and the other Loan Documents with the Borrowers and other  Loan Parties as may be necessary or advisable in order to establish new Classes in respect of  Revolving Commitments or Term Loans so extended and such technical amendments as may be  necessary, advisable or appropriate in the reasonable opinion of the Administrative Agents and the  Borrowers in connection with the establishment of such new Classes, in each case on terms  consistent with this Section 2.24.  In addition, any such amendment shall provide that, to the extent  consented to by each relevant Issuing Bank, (a) with respect to any Letters of Credit the expiration  date for which extend beyond the maturity date for the non-extended Revolving Commitments,  participations in such Letters of Credit on such maturity date shall be reallocated from Lenders  

 

  154    3141/80492-001 CURRENT/130883173v17  #95685245v21   holding Revolving Commitments to Lenders holding Extended Revolving Commitments in  accordance with the terms of such amendment (provided that such participation interests shall,  upon receipt thereof by the relevant Lenders holding Revolving Commitments, be deemed to be  participation interests in respect of such Revolving Commitments and the terms of such  participation interests (including, without limitation, the commission applicable thereto) shall be  adjusted accordingly) and (b) limitations on drawings of Revolving Loans and issuances,  extensions and amendments to Letters of Credit shall be implemented giving effect to the  foregoing reallocation prior to such reallocation actually occurring to ensure that sufficient  Extended Revolving Commitments are available to participate in any such Letters of Credit. No  Lender shall be required to participate in any Extension.   (d) In connection with any Extension, the applicable Borrower shall provide the  Administrative Agents at least five (5) Business Days (or such shorter period as may be agreed by  the Administrative Agents) prior written notice thereof, and shall agree to such procedures (to  ensure reasonable administrative management of the credit facilities hereunder after such  Extension), if any, as may be established by, or acceptable to, the Administrative Agents, in each  case acting reasonably to accomplish the purposes of this Section 2.24.  Section 2.25 Term Loan Exchange Notes.  (a) Any Borrower may by written notice to the applicable Administrative Agent elect  to offer (each a “Permitted Debt Exchange Offer”) to issue to Lenders holding Term Loans under  this Agreement first priority senior secured notes and/or junior lien secured notes and/or unsecured  notes (the “Term Loan Exchange Notes”) in exchange for the Term Loans (each such exchange, a  “Permitted Debt Exchange”); provided that such Term Loan Exchange Notes may not be in an  aggregate principal amount greater than the Term Loans being exchanged (the “Base Exchange  Amount”) plus unpaid accrued interest and premium (if any) thereon and underwriting discounts,  fees, commissions and expenses in connection with the issuance of the Term Loan Exchange  Notes, provided that the applicable Borrower may issue Term Loan Exchange Notes in excess of  the Base Exchange Amount so long as the incurrence of the Indebtedness in respect of such excess  Term Loan Exchange Notes would otherwise be permitted under Section 6.01.  Each such notice  shall specify the date (each, a “Term Loan Exchange Effective Date”) on which the applicable  Borrower proposes that the Term Loan Exchange Notes shall be issued, which shall be a date not  less than five (5) Business Days after the date on which such notice is delivered to the applicable  Administrative Agent (or such shorter period as may be agreed by the applicable Administrative  Agent); provided that (w) the Weighted Average Life to Maturity of such Term Loan Exchange  Notes shall not be shorter than the then remaining Weighted Average Life to Maturity of the Term  Loans being exchanged (without giving effect to nominal amortization for periods where  amortization has been eliminated as a result of a prepayment of the applicable Term Loans) and  the Term Loan Exchange Notes shall not have a final maturity before the Term Loan Maturity  Date then in effect for the Class or Classes of Term Loans being exchanged (it being understood  that acceleration or mandatory repayment, prepayment, redemption or repurchase of such Term  Loan Exchange Notes upon the occurrence of an event of default, a change in control, an event of  loss or an asset disposition shall not be deemed to constitute a change in the stated final maturity  thereof); (x) if secured, such Term Loan Exchange Notes shall rank pari passu or junior in right of  payment and of security with or to the Loans being exchanged hereunder; (y) all other terms and  

 

  155    3141/80492-001 CURRENT/130883173v17  #95685245v21   conditions (other than maturity, interest rates, pricing, amortization, AHYDO Catch-Up Payments,  optional prepayment terms, and fees) applicable to such Term Loan Exchange Notes shall reflect  market terms and conditions at the time of incurrence or issuance (as determined in good faith by  the applicable Borrower); provided that the Term Loan Exchange Notes shall not have the benefit  of any financial maintenance covenant unless (i) the Term Loans have the benefit of such financial  maintenance covenant on the same terms or (ii) the Term Loans shall have in the future been  provided with the benefit of a financial maintenance covenant, in which case such Term Loan  Exchange Notes issued after such future date may be provided with the benefit of the same  financial maintenance covenant on the same terms; and (z) the obligations in respect of the Term  Loan Exchange Notes (A) shall not be secured by Liens on any asset of the U.S. Borrower and the  Restricted Subsidiaries other than assets constituting Collateral, (B) if such Term Loan Exchange  Notes are secured, all security therefor shall be granted pursuant to documentation that is not more  restrictive than the Security Documents in any material respect taken as a whole (as determined  by the U.S. Borrower) and the representative for such Term Loan Exchange Notes shall enter into  a customary intercreditor agreement with the Collateral Agent substantially consistent with the  terms set forth on Exhibit K-1 or K-2 annexed hereto together with (I) any immaterial changes and  (II) material changes thereto in light of prevailing market conditions, which material changes shall  be posted to the Lenders not less than five (5) Business Days before execution thereof and, if the  Required Lenders shall not have objected to such changes within five (5) Business Days after  posting, then the Required Lenders shall be deemed to have agreed that the Collateral Agent’s  entering into such intercreditor agreement (with such changes) is reasonable and to have consented  to such intercreditor agreement (with such changes) and to the Collateral Agent’s execution  thereof, in each case in form and substance reasonably satisfactory to the Collateral Agent (it being  understood that junior Liens are not required to be pari passu with other junior Liens, and that  Indebtedness secured by junior Liens may be secured by Liens that are pari passu with, or junior  in priority to, other Liens that are junior to the Liens securing the Obligations), or (C) shall not be  incurred or Guaranteed by any Restricted Subsidiary unless such Restricted Subsidiary is a Loan  Party that shall have previously or substantially concurrently Guaranteed or borrowed such Term  Loans being exchanged.  (b) The applicable Borrower shall offer to issue Term Loan Exchange Notes in  exchange for any Class of Term Loans to all Lenders holding such Class of Term Loans (other  than any Lender that, if requested by the applicable Borrower, is unable to certify that it is (i) a  “qualified institutional buyer” (as defined in Rule 144A under the Securities Act), (ii) an  institutional “accredited investor” (as defined in Rule 501 under the Securities Act) or (iii) not a  “U.S. person” as defined in Rule 902 under the Securities Act) on a pro rata basis, and such Lenders  may choose to accept or decline to receive such Term Loan Exchange Notes in their sole discretion.   Any such Term Loans exchanged for Term Loan Exchange Notes shall be automatically and  immediately, without further action by any Person, cancelled on the Term Loan Exchange  Effective Date for all purposes of this Agreement (and, if requested by the applicable  Administrative Agent, any applicable exchanging Lender shall execute and deliver to the  applicable Administrative Agent an Assignment and Assumption, or such other form as may be  reasonably requested by the applicable Administrative Agent, in respect thereof pursuant to which  the respective Lender assigns its interest in the Term Loans being exchanged pursuant to the  Permitted Debt Exchange to the applicable Borrower for immediate cancellation), and accrued and  unpaid interest on such Term Loans shall be paid to the exchanging Lenders on the Term Loan  

 

  156    3141/80492-001 CURRENT/130883173v17  #95685245v21   Exchange Effective Date, or, if agreed to by the applicable Borrower and the applicable  Administrative Agent, the next scheduled Interest Payment Date with respect to such Term Loans  (with such interest accruing until the date of consummation of such Permitted Debt Exchange).  (c) If the aggregate principal amount of all Term Loans (calculated on the face amount  thereof) of a given Class tendered by Lenders in respect of the relevant Permitted Debt Exchange  Offer (with no Lender being permitted to tender a principal amount of Term Loans which exceeds  the principal amount of the applicable Class actually held by it) shall exceed the maximum  aggregate principal amount of Term Loans of such Class offered to be exchanged by the applicable  Borrower pursuant to such Permitted Debt Exchange Offer, then the applicable Borrower shall  exchange Term Loans under the relevant Class tendered by such Lenders ratably up to such  maximum based on the respective principal amounts so tendered or, if such Permitted Debt  Exchange Offer shall have been made with respect to multiple Classes without specifying a  maximum aggregate principal amount offered to be exchanged for such Class, the aggregate  principal amount of all Term Loans (calculated on the face amount thereof) of all Classes tendered  by Lenders in respect of the relevant Permitted Debt Exchange Offer (with no Lender being  permitted to tender a principal amount of Term Loans which exceeds the principal amount thereof  actually held by it) shall exceed the maximum aggregate principal amount of Term Loans of all  relevant Classes offered to be exchanged by the applicable Borrower pursuant to such Permitted  Debt Exchange Offer, then the applicable Borrower shall exchange Term Loans across all Classes  subject to such Permitted Debt Exchange Offer tendered by such Lenders ratably up to such  maximum amount based on the respective principal amounts so tendered.  (d) With respect to all Permitted Debt Exchanges effected by the applicable Borrower  pursuant to this Section 2.25, unless waived by the applicable Borrower, such Permitted Debt  Exchange Offer shall be made for not less than $25,000,000 in aggregate principal amount of Term  Loans; provided that subject to the foregoing the applicable Borrower may at its election specify  (A) as a condition (a “Minimum Tender Condition”) to consummating any such Permitted Debt  Exchange that a minimum amount (to be determined and specified in the relevant Permitted Debt  Exchange Offer in the applicable Borrower’s discretion) of Term Loans of any or all applicable  Classes be tendered and/or (B) as a condition (a “Maximum Tender Condition”) to consummating  any such Permitted Debt Exchange that no more than a maximum amount (to be determined and  specified in the relevant Permitted Debt Exchange Offer in the applicable Borrower’s discretion)  of Term Loans of any or all applicable Classes will be accepted for exchange.  The applicable  Administrative Agent and the Lenders hereby acknowledge and agree that this Section 2.25 shall  supersede any provisions of Section 2.11, Section 2.18 and Section 9.02 to the contrary, waive the  requirements of any other provision of this Agreement or any other Loan Document that may  otherwise prohibit the incurrence of any Indebtedness expressly provided for by this Section 2.25  and hereby agree not to assert any Default or Event of Default in connection with the  implementation of any such Permitted Debt Exchange or any other transaction contemplated by  this Section 2.25.  (e) In connection with each Permitted Debt Exchange, the applicable Borrower shall  provide the applicable Administrative Agent at least five (5) Business Days’ (or such shorter  period as may be agreed by the applicable Administrative Agent) prior written notice thereof, and  the applicable Borrower and the applicable Administrative Agent, acting reasonably, shall  

 

  157    3141/80492-001 CURRENT/130883173v17  #95685245v21   mutually agree to such procedures as may be necessary or advisable to accomplish the purposes  of this Section 2.25; provided that the terms of any Permitted Debt Exchange Offer shall provide  that the date by which the relevant Lenders are required to indicate their election to participate in  such Permitted Debt Exchange shall be not less than five (5) Business Days following the date on  which the Permitted Debt Exchange Offer is made.  The applicable Borrower shall provide the  final results of such Permitted Debt Exchange to the applicable Administrative Agent no later than  one (1) Business Day prior to the proposed date of effectiveness for such Permitted Debt Exchange  and the applicable Administrative Agent shall be entitled to conclusively rely on such results.  (f) The applicable Borrower shall be responsible for compliance with, and hereby  agrees to comply with, all applicable securities and other laws in connection with each Permitted  Debt Exchange, it being understood and agreed that (x) neither the applicable Administrative  Agent nor any Lender assumes any responsibility in connection with the applicable Borrower’s  compliance with such laws in connection with any Permitted Debt Exchange and (y) each Lender  shall be solely responsible for its compliance with any applicable “insider trading” laws and  regulations to which such Lender may be subject under the Securities Exchange Act of 1934, as  amended.  Section 2.26 U.S. Borrower as Agent.  The U.K. Borrower hereby appoints the U.S. Borrower to act as its agent under this  Agreement and the other Loan Documents and agrees that (i) any notice or communication  delivered by the applicable Administrative Agent or any Lender to the U.S. Borrower shall be  deemed delivered to all Borrowers and (ii) the applicable Administrative Agent and the Lenders  may accept, and be permitted to rely on, any document, instrument or agreement executed by the  U.S. Borrower on behalf of the U.K. Borrower. Notwithstanding any provision to the contrary in  this Agreement, the U.K. Borrower shall not be obligated under this Agreement to repay, support  or guaranty any of the U.S. Obligations, but shall be obligated only to repay all of the U.K.  Obligations, and the proceeds of any payment by the U.K. Borrower shall be applied only to the  repayment of such U.K. Obligations.  Section 2.27 Sustainability Targets.  (a) The parties hereto acknowledge that the Sustainability Targets have not been  determined and agreed as of the date of this Agreement and that Schedule 2.27 therefore has been  intentionally left blank.  The U.S. Borrower may, at any time prior to the first anniversary of the  Amendment No. 3 Effective Date, submit a request in writing to the applicable Administrative  Agent that this Agreement be amended to include the Sustainability Targets and other related  provisions (including without limitation those provisions described in this Section 2.27), to be  mutually agreed among the parties hereto in accordance with this Section 2.27 and Section 9.02(b)  (such amendment, the “ESG Amendment”) with respect to the Revolving Credit Facility and/or  the Tranche A Term Facilities.  Such request shall be accompanied by the proposed Sustainability  Targets as prepared by the U.S. Borrower in consultation with the Co-Sustainability Structuring  Agents and devised with assistance from the Sustainability Assurance Provider, which shall be  included as Schedule 2.27 (the “Sustainability Table”) upon execution of the ESG Amendment in  accordance with the terms of this Section 2.27.  The proposed ESG Amendment shall also include  

 

  158    3141/80492-001 CURRENT/130883173v17  #95685245v21   the ESG Pricing Provisions (defined below) and identify the applicable Sustainability Assurance  Provider.  (b) The applicable Administrative Agent, the Lenders and the  U.S. Borrower shall in  good faith enter into discussions to reach an agreement in respect of the proposed Sustainability  Targets and Sustainability Assurance Provider, and any proposed incentives and penalties for  compliance and noncompliance, respectively, with the Sustainability Targets, including any  adjustments to the Applicable Margin and/or Commitment Fee Rate (such provisions, collectively,  the “ESG Pricing Provisions”); provided that the amount of any such adjustments made pursuant  to an ESG Amendment shall not result in a decrease or an increase of more than (a) 0.01% in the  Commitment Fee Rate and/or (b) 0.05% in the Applicable Margin during any fiscal year, which  pricing adjustments shall be applied in accordance with the terms as further described in the ESG  Pricing Provisions; provided further that (i) in no event shall the Applicable Margin be less than  zero at any time and (ii) for the avoidance of doubt, such pricing adjustments shall not be  cumulative year-over-year, and each applicable adjustment shall only apply until the date on which  the next adjustment is due to take place.  The ESG Amendment (including the ESG Pricing  Provisions) will become effective once the U.S. Borrower, the applicable Administrative Agent  and the Required Revolving Lenders or the Required Tranche A Term Lenders, as applicable, have  executed the ESG Amendment.  The U.S. Borrower agrees and confirms that the ESG Pricing  Provisions shall follow and comply with the SLL Principles.  (c) Following the effectiveness of the ESG Amendment, any amendment or other  modification to the ESG Pricing Provisions which does not have the effect of reducing the  Applicable Margin or the Commitment Fee Rate to a level not otherwise permitted by this Section  2.27 shall be subject only to the consent of the U.S. Borrower and the Required Revolving Lenders  or the Required Tranche A Term Lenders, as applicable.  ARTICLE III  Representations and Warranties  The U.S. Borrower and its Restricted Subsidiaries represent and warrant to the  Lenders that (it being understood that the following representations and warranties shall be deemed  made with respect to any Foreign Subsidiary only to the extent relevant under applicable law):  Section 3.01 Organization; Powers.  Each of the U.S. Borrower and its  Restricted Subsidiaries (a) is duly organized or incorporated and validly existing, (b) to the extent  such concept is applicable in the corresponding jurisdiction, is in good standing under the laws  of the jurisdiction of its organization or incorporation and (c) has all requisite organizational or  constitutional power and authority to (i) carry on its business as now conducted and as proposed  to be conducted and (ii) execute, deliver and perform its obligations under each Loan Document  to which it is a party, except, in the case of clauses (b) only, where the failure to do so,  individually or in the aggregate, would not reasonably be expected to result in a Material Adverse  Effect.  Section 3.02 Authorization; Enforceability.  This Agreement (and the lending  transactions contemplated hereby to occur on the Restatement Date, the Amendment No. 1  Effective Date, the Amendment No. 2 Effective Date and the Amendment No. 3 Effective Date)  

 

  159    3141/80492-001 CURRENT/130883173v17  #95685245v21   have been duly authorized by all necessary corporate, shareholder or other organizational action  by the U.S. Borrower and the U.K. Borrower, and each other Loan Document to which any Loan  Party is a party has been duly authorized by all necessary corporate, shareholder or other  organizational action by such Loan Party, and each Loan Document constitutes, or when  executed and delivered by such Loan Party, will constitute, a legal, valid and binding obligation  of the U.S. Borrower or such other Loan Party (as the case may be), enforceable in accordance  with its terms, subject to (i) 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 and (ii) the need for filings  and registrations necessary to create or perfect the Liens on the Collateral granted by the Loan  Parties in favor of the Secured Parties, in each case, in respect of the U.K. Borrower, subject to  the U.K. Legal Reservations and the U.K. Perfection Requirements.  Section 3.03 Governmental Approvals; No Conflicts.  The execution, delivery  and performance by the Loan Parties of the Loan Documents to which such Loan Parties are a  party (a) do not require any material consent or approval of, registration or filing with, or any  other action by, any Governmental Authority, except (i) such as have been obtained or made and  are in full force and effect, in each case as of the Restatement Date, (ii) filings and registrations  of charges necessary to perfect Liens created under the Loan Documents and to release existing  Liens (if any), (iii) those consents, approvals, registrations, filings or other actions, the failure of  which to obtain or make would not reasonably be expected to result in a Material Adverse Effect,  and (iv) (without limiting the generality of the foregoing) in respect of the U.K. Borrower, any  U.K. Perfection Requirement, (b) will not violate any Organizational Document of the U.S.  Borrower or any other Loan Party, (c) will not violate any Requirement of Law applicable to the  U.S. Borrower or any Restricted Subsidiary, (d) will not violate or result in a default under any  indenture, agreement or other instrument in each case constituting Material Indebtedness binding  upon the U.S. Borrower or any Restricted Subsidiary or their respective assets, or give rise to a  right thereunder to require any payment to be made by the U.S. Borrower or any Restricted  Subsidiary or give rise to a right of, or result in, termination, cancelation or acceleration of any  obligation thereunder, in each case as of the Restatement Date, and (e) will not result in the  creation or imposition of any Lien on any asset of the U.S. Borrower or any Restricted  Subsidiary, except Liens created under the Loan Documents and Liens permitted under Section  6.02, except in the cases of clauses (a), (c) and (d) above where such violations, individually or  in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.  Section 3.04 Financial Condition; No Material Adverse Change.    (a) Each of (i) the audited consolidated balance sheet and related statements of  income, stockholders’ equity and cash flows of the U.S. Borrower for December 31, 2021 and for  the fiscal year then ended and (ii) the unaudited consolidated balance sheets and related statements  of income, stockholders’ equity and cash flows of the U.S. Borrower for March 31, 2022 and for  the fiscal quarter and portion of the U.S. Borrower’s fiscal year then ended, present fairly, in all  material respects, the consolidated financial position and the consolidated results of operations and  consolidated cash flows of the U.S.  Borrower as of such dates and for such periods in accordance  in all material respects with GAAP (except, in the case of the unaudited financial statements, as  permitted by the SEC), subject, in the case of the unaudited financial statements, to normal year- 

 

  160    3141/80492-001 CURRENT/130883173v17  #95685245v21   end audit adjustments and to any other adjustments described therein, (including the notes thereto),  the absence of footnotes and the inclusion of explanatory notes.  (b) Since December 31, 2021, no event, change or condition has occurred that has had,  or would reasonably be expected to have, a Material Adverse Effect.  Each Lender and each Administrative Agent hereby acknowledges and agrees that the U.S.  Borrower and its Subsidiaries may be required to restate historical financial statements as the result  of the implementation of changes in GAAP, or the respective interpretation thereof or otherwise,  and that such restatements will not result in a Default or an Event of Default under the Loan  Documents.    Section 3.05 Properties.    (a) Each of the U.S. Borrower and its Restricted Subsidiaries has good title to, valid  leasehold interests in, or rights to use, all of its real and personal property material to its business,  except for Liens permitted under Section 6.02 and except where the failure to have such interest  would not reasonably be expected to have a Material Adverse Effect.  (b) Except as could not, individually or in the aggregate, reasonably be expected to  have a Material Adverse Effect (i) the U.S. Borrower and its Restricted Subsidiaries own, or are  licensed to use, all Intellectual Property that is necessary for the operation of their respective  businesses as currently conducted, free and clear of all Liens (other than Liens permitted under  Section 6.02), (ii) to the knowledge of either Borrower, all registered and issued Intellectual  Property rights owned by the U.S. Borrower and its Restricted Subsidiaries are valid and  enforceable, (iii) the conduct of, and the use of Intellectual Property in, the respective businesses  of the U.S. Borrower and its Restricted Subsidiaries does not infringe, misappropriate, or otherwise  violate the rights of any other Person, and (iv) there are no claims, actions, suits or proceedings  pending against or, to the knowledge of either Borrower, threatened in writing against the U.S.  Borrower or any Restricted Subsidiary (A) alleging any infringement, misappropriation or  violation by the U.S. Borrower or any Restricted Subsidiary of any Intellectual Property right of  any other Person, or (B) challenging the ownership, use, validity or enforceability of any  Intellectual Property owned by or licensed to the U.S. Borrower or any Restricted Subsidiary.  Section 3.06 Litigation and Environmental Matters.    (a) There are no actions, suits, investigations or proceedings by or before any  arbitrator or Governmental Authority pending against or, to the knowledge of either Borrower,  threatened in writing against the U.S. Borrower or any Restricted Subsidiary 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  (other than the Disclosed Matters).  (b) Except for the Disclosed Matters and except with respect to any other matters that,  individually or in the aggregate, would not reasonably be expected to result in a Material Adverse  Effect, neither the U.S. Borrower nor any Restricted Subsidiary (i) has failed to comply with any  Environmental Law or to obtain, maintain or comply with any permit, license or other approval  

 

  161    3141/80492-001 CURRENT/130883173v17  #95685245v21   required under any Environmental Law, (ii) has become subject to any Environmental Liability or  (iii) has received written notice of any claim with respect to any Environmental Liability.  Section 3.07 Compliance with Laws.    Each of the U.S. Borrower and the Restricted Subsidiaries is in compliance with all  Requirements of Law 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.    Section 3.08 Investment Company Status.  None of the U.S. Borrower nor any  other Loan Party is required to be registered as an “investment company” as defined in, or subject  to regulation under, the Investment Company Act of 1940.  Section 3.09 Taxes.  Each of the U.S. Borrower and its Restricted Subsidiaries  (a) has timely filed or caused to be filed all material Tax returns and reports required to have  been filed and (b) has paid or caused to be paid all material Taxes required to have been paid by  it, except any Taxes that are being contested in good faith by appropriate proceedings for which  adequate reserves have been provided in accordance with GAAP or applicable foreign  accounting principles.  Section 3.10 ERISA.  (a) No ERISA Event has occurred or is reasonably  expected to occur that, when taken together with all other such ERISA Events for which liability  is reasonably expected to occur, would reasonably be expected to result in a Material Adverse  Effect, (b) with respect to each employee benefit plan as defined in Section 3(3) of ERISA, each  of any Loan Party (other than the U.K. Borrower) and its ERISA Affiliates is in compliance in  all material respects with the applicable provisions of ERISA and the Code and the regulations  and published interpretations thereunder, (c) there exists no Unfunded Pension Liability with  respect to any Plans that would reasonably be expected to result in a Material Adverse Effect,  and (d) each Foreign Pension Plan is in compliance in all material respects with all requirements  of law applicable thereto and the respective requirements of the governing documents for such  plan.  With respect to each Foreign Pension Plan, neither any Loan Party, any of its Subsidiaries  or any of their respective directors, officers, employees or agents has engaged in a transaction  which would subject any Loan Party or any if its Subsidiaries, directly or indirectly, to a tax or  civil penalty which could reasonably be expected, individually or in the aggregate, to result in a  Material Adverse Effect.  With respect to each Foreign Pension Plan, reserves have been  established in the financial statements furnished to Lenders in respect of any unfunded liabilities  in accordance with applicable law and prudent business practice or, where required, in  accordance with ordinary accounting practices in the jurisdiction in which such Foreign Pension  Plan is maintained.  The aggregate unfunded liabilities with respect to such Foreign Pension  Plans would not reasonably be expected to result in a Material Adverse Effect; the present value  of the aggregate accumulated benefit liabilities of all such Foreign Pension Plans (based on those  assumptions used to fund each such Foreign Pension Plan) did not, as of the last annual valuation  date applicable thereto, exceed by more than $50,000,000 the fair market value of the assets of  all such Foreign Pension Plans.  Section 3.11 Disclosure.  As of the Amendment No. 3 Effective Date, the  representations and warranties of the Borrowers contained in any Loan Document or in any other  

 

  162    3141/80492-001 CURRENT/130883173v17  #95685245v21   documents, certificates or written statements furnished by or on behalf of the U.S. Borrower or  any Restricted Subsidiary to the Administrative Agents in connection with the transactions  contemplated hereby (other than projections, estimates, budgets, forecasts, pro forma financial  information and other forward-looking information and information of a general economic or  general industry nature and other general market data), when taken as a whole, do not, as of the  date furnished, contain any untrue statement of a material fact or omit to state any material fact  (known to either Borrower, in the case of any document not furnished by it) necessary to make  the statements therein not materially misleading in the light of the circumstances under which  they were made (after giving effect to all supplements thereto from time to time).  Any  projections and pro forma financial information contained in such materials (including any  Projections) were prepared in good faith based upon assumptions believed by the Borrowers to  be reasonable at the time of delivery thereof, it being understood by the Agents and the Lenders  that (i) such projections as to future events (A) are not to be viewed as facts, (B) are subject to  significant uncertainties and contingencies, many of which are beyond the control of the Loan  Parties, and (C) are not a guarantee of performance, (ii) no assurance is given by the Loan Parties  that the results forecast in any such projections will be realized and (iii) the actual results during  the period or periods covered by any such projections may differ from the forecast results set  forth in such projections and such differences may be material.  Section 3.12 Labor Matters.  As of the Restatement Date, there are no strikes,  work stoppages or material labor disputes against the U.S. Borrower or any Restricted Subsidiary  pending or, to the actual knowledge of either Borrower, threatened in writing, in each case, that  would reasonably be expected to have a Material Adverse Effect.  Section 3.13 Subsidiaries.  As of the Restatement Date, Schedule 3.13 sets forth  the name of, and the ownership by the U.S. Borrower and its Subsidiaries in, each Subsidiary  (other than Foreign Subsidiaries which are inactive, dormant or have only de minimis assets)  and identifies each Subsidiary that is a Loan Party as of the Restatement Date; provided that  inaccuracies in the name and ownership of any Foreign Subsidiary that is not a Material  Subsidiary shall be deemed not material for all purposes under this Agreement and the other  Loan Documents.  Section 3.14 Solvency.  As of the Amendment No. 3 Effective Date, after giving  effect to the consummation of the Transactions, the U.S. Borrower and its Restricted  Subsidiaries, when taken as a whole, are Solvent.  Section 3.15 Federal Reserve Regulations.   (a) None of the U.S. Borrower or any Restricted Subsidiary is engaged principally, or  as one of its important activities, in the business of extending credit for the purpose of buying or  carrying Margin Stock.  (b) No part of the proceeds of the Loans will be used, whether directly or indirectly,  and whether immediately, incidentally or ultimately, for any purpose that entails a violation of the  provisions of the Regulations of the Federal Reserve Board, including Regulation T, U or X.   Section 3.16 [Reserved].    

 

  163    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 3.17 Use of Proceeds.  The proceeds of the Term Loans and the  Revolving Loans will be used in accordance with Section 5.09; provided that the proceeds of  any Incremental Facility may be used for any purpose agreed to by the lenders thereof.  Section 3.18 Security Documents.  The Security Documents are effective to  create in favor of the Collateral Agent for the benefit of the applicable Secured Parties legal,  valid and enforceable (subject to (a) 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) any filings,  notices and recordings and other perfection requirements necessary to create or perfect the Liens  on the Collateral granted by the Loan Parties in favor of the Secured Parties (which filings,  notices or recordings shall be made to the extent required by any Security Document) and (c)  with respect to enforceability against Foreign Subsidiaries or under non-U.S. laws, the effect of  non-U.S. laws, rules and regulations as they relate to pledges, if any, of Equity Interests in  Foreign Subsidiaries and intercompany Indebtedness owed by Foreign Subsidiaries) first priority  Liens on, and security interests in, the Collateral (subject to Liens permitted under this  Agreement) and, (i) when all appropriate filings, notices or recordings are made in the  appropriate offices, corporate records or with the appropriate Persons as may be required under  applicable laws and any Security Document (which filings, notices or recordings shall be made  to the extent required by any Security Document) and (ii) upon the taking of possession or control  by the Collateral Agent of such Collateral with respect to which a security interest may be  perfected only by possession or control (which possession or control shall be given to the  Collateral Agent to the extent required by any Security Document), the Collateral Agent will  have fully perfected Liens on, and security interests in, all right, title and interest of the Loan  Parties in such Collateral to the extent such Liens and Security interests can be perfected by such  filings, notices, recordings, possession or control.  Section 3.19 OFAC; FCPA; Patriot Act.  (a) None of the U.S. Borrower or any of its Restricted Subsidiaries, nor any director  or officer thereof, nor, to the knowledge of either Borrower, any employee, agent or affiliate of the  U.S. Borrower or any of its Restricted Subsidiaries is a Person that is, or is owned or controlled by  Persons that are: (i) the subject of any sanctions administered or enforced by the U.S. Department  of the Treasury’s Office of Foreign Assets Control or the U.S. State Department, the United  Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions  authority (collectively, “Sanctions”), or (ii) located, organized or resident in a country, region or  territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba, Iran, North  Korea, the so-called Donetsk People’s Republic, the so-called Luhansk People’s Republic and  Syria).  (b) The U.S. Borrower and the other Loan Parties are in compliance in all material  respects with the Patriot Act (to the extent applicable) and all applicable anti-corruption laws, anti- money laundering laws and Sanctions.  The U.S. Borrower has implemented and maintains  policies and procedures reasonably designed to ensure compliance by the U.S. Borrower and its  Subsidiaries with all applicable anti-corruption laws (including without limitation the United  States Foreign Corrupt Practices Act of 1977 (the “FCPA”)) and Sanctions.  

 

  164    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 3.20 No Filing or Stamp Taxes.  Other than any U.K. Perfection  Requirement, under the laws of its jurisdiction of establishment or incorporation of each  Borrower and Restricted Subsidiary it is not necessary that the Loan Documents be filed,  recorded or enrolled with any court or other authority in that jurisdiction or that any stamp,  registration or similar tax be paid on or in relation to the Loan Documents or the transactions  contemplated by the Loan Documents. For the avoidance of doubt, this Section 3.20 shall not  apply to the U.K. Borrower with respect to any Assignment and Assumption.  Section 3.21 Beneficial Ownership Certification.   As of the Amendment No. 1  Effective Date, the Amendment No. 2 Effective Date and the Amendment No. 3 Effective Date,  the information included in the applicable Beneficial Ownership Certification delivered on such  date is true and correct in all respects.  Section 3.22 Affected Financial Institution. No Loan Party is an Affected  Financial Institution.    ARTICLE IV  Conditions  Section 4.01 Restatement Date.  This Agreement and the obligations of the  Lenders to make the extensions of credit to be made hereunder and to perform the other  transactions required to be performed on the Restatement Date shall not become effective until  the date on which each of the following express conditions is satisfied or waived:  (a) Each Administrative Agent (or its counsel) shall have received: (A) from each  party hereto counterparts of this Agreement signed on behalf of such party, together with all  Schedules hereto, (B) from each party thereto executed counterparts of a Successor Collateral  Agent Agreement and Guaranty Reaffirmation, (C) from the U.S. Borrower, a Note executed by  the U.S. Borrower for each Lender that requests such a Note at least three (3) Business Days in  advance of the Restatement Date, (D) with respect to each Loan Party, UCC-1 or UCC-3 financing  statements in a form appropriate for filing in the state of organization of such Loan Party, (E)  executed IP Security Agreements (as defined in the Collateral Agreement) as required pursuant to  the Collateral Agreement (F) delivery of stock certificates for certificated Equity Interests of each  material Domestic Restricted Subsidiary that constitutes Collateral, together with appropriate  instruments of transfer endorsed in blank, (G) all agreements or instruments representing or  evidencing the Collateral accompanied by instruments of transfer and stock powers undated and  endorsed in blank and (H) the results of a search of the UCC filings and of such tax and judgment  lien searches and such searches from the U.S. Patent and Trademark Office and the U.S. Copyright  Office as reasonably requested by any Administrative Agent at least three (3) Business Days prior  to the Restatement Date, and copies of the financing statements (or similar documents) disclosed  by such search; provided, in each case, that to the extent any lien search, delivery of evidence of  insurance, guarantee or any Collateral or any security interests therein (including the creation or  perfection of any security interest) (other than (x) grants of Collateral subject to the UCC that may  be perfected by the filing of UCC financing statements and (y) the delivery of stock certificates  for certificated stock of each Domestic Subsidiary that is not Excluded Property) is not or cannot  

 

  165    3141/80492-001 CURRENT/130883173v17  #95685245v21   be provided or perfected on the Restatement Date after the U.S. Borrower’s use of commercially  reasonable efforts to do so, without undue burden or expense, the delivery of such lien search,  evidence of insurance, guarantee and/or any Collateral (and perfecting of security interests therein)  shall not constitute a condition precedent to the availability of the Initial Tranche A Term Loans,  the Initial Tranche B Term Loans (as defined in this Agreement as of the Restatement Date) and  the Revolving Borrowing on the Restatement Date but shall be required to be delivered pursuant  to Section 5.16.  (b) Each Administrative Agent shall have received a customary written opinion  (addressed to the Administrative Agents and the Lenders and dated the Restatement Date) of  Kirkland & Ellis LLP, California, New York and Illinois counsel for the Loan Parties.  (c) Each Administrative Agent shall have received: (i) a copy of each Organizational  Document of the U.S. Borrower and the Subsidiary Loan Parties and, to the extent applicable,  certified as of a recent date by the appropriate governmental official; (ii) signature and incumbency  certificates of the officers of such Person executing the Loan Documents to which it is a party as  of the Restatement Date; (iii) resolutions of the board of directors or similar governing body of the  U.S. Borrower and the Subsidiary Loan Parties approving and authorizing the execution, delivery  and performance of this Agreement and the other Loan Documents to which such Loan Party is a  party as of the Restatement Date, certified as of the Restatement Date by such Loan Party as being  in full force and effect without modification or amendment; and (iv) a good standing certificate (to  the extent such concept is known in the relevant jurisdiction) from the applicable Governmental  Authority of the U.S. Borrower and the Subsidiary Loan Parties jurisdiction of incorporation,  organization or formation dated a recent date prior to the Restatement Date; provided that, with  respect to any Loan Party on the Restatement Date that is a Foreign Subsidiary, in lieu of delivery  of the items set forth in clauses (i) through (iv), such Loan Party shall deliver a customary director’s  certificate, including customary attachments thereto.  (d) The Administrative Agents shall have received all fees and other amounts due and  payable by any Loan Party on or prior to the Restatement Date, including, to the extent invoiced,  reimbursement or payment of all reasonable and documented out-of-pocket expenses (including  the reasonable documented fees, charges and disbursements of outside counsel) required to be  reimbursed or paid by the U.S. Borrower under any Loan Document, provided that any such fees  and other amounts to be paid as a condition to the Restatement Date must be invoiced at least two  (2) Business Days prior to the Restatement Date and may be offset against the proceeds of the  Tranche A Term Loans, Tranche B Term Loans (as defined in this Agreement as of the  Restatement Date) or Revolving Borrowing, as applicable, on the Restatement Date.  (e) The Administrative Agents shall have received a Solvency Certificate.  (f) Each Administrative Agent shall have received at least two (2) Business Days  prior to the Restatement Date such “know your customer” anti-money laundering rules and Patriot  Act information about the U.S. Borrower and the Subsidiary Loan Parties as they shall have  reasonably requested in writing at least ten (10) Business Days prior to the Restatement Date.  

 

  166    3141/80492-001 CURRENT/130883173v17  #95685245v21   (g) The representations and warranties contained in Article III shall, in each case, be  true and correct in all material respects as of the Restatement Date (or true and correct in all  material respects as of a specified date, if earlier).  (h) Substantially simultaneously with the funding of Loans on the Restatement Date,  the Existing Term Loans (as defined in this Agreement as of the Restatement Date) and all accrued  and unpaid interest and fees (other than letter of credit fronting fees, which shall continue to  accrue) and other amounts owing under the Existing Credit Agreement (except the principal  amount of the Loans converted or continued thereunder) shall have been paid by the U.S. Borrower  under the Existing Credit Agreement.  For purposes of determining whether the conditions set forth in this Section 4.01  have been satisfied, by releasing its signature page hereto or to an Assignment and Assumption,  the Administrative Agents and each Lender party hereto shall be deemed to have consented to,  approved, accepted or be satisfied with each document or other matter required hereunder to be  consented to or approved by, or acceptable or satisfactory to, the applicable Administrative Agent  or such Lender, as the case may be.  Section 4.02 Each Credit Event.  The obligation of (i) each Lender to make a  Loan on the occasion of any Borrowing, including on the Restatement Date, the Amendment No.  1 Effective Date, the Amendment No. 2 Effective Date and the Amendment No. 3 Effective  Date, and (ii) the Issuing Bank to issue, renew, increase or extend any Letter of Credit (each  event referred to in clause (i) and (ii) above, a “Credit Event”), is subject to receipt of the request  therefor in accordance herewith and to the satisfaction (or waiver) of the following express  conditions:  (a) The representations and warranties of each Loan Party set forth in the Loan  Documents shall be true and correct in all material respects, in each case on and as of the date of  such Credit Event (or true and correct in all material respects as of a specified date, if earlier);  provided that in the case of any Incremental Facility the proceeds of which will be used to finance  a Permitted Acquisition or similar permitted Investment, such representations shall be limited to  customary “SunGard” specified representations.  (b) At the time of and immediately after giving effect to such Credit Event, no Default  or Event of Default shall have occurred and be continuing, subject to clause (i) of the proviso to  Section 2.20(a).  (c) The applicable Administrative Agent shall have received a Borrowing Request  meeting the requirements of Section 2.03.  Each Borrowing (provided that a conversion or a continuation of a Borrowing shall not constitute  a “Borrowing” for purposes of this Section) and each issuance, renewal, increase or extension of  a Letter of Credit shall be deemed to constitute a representation and warranty by the applicable  Borrower on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.  

 

  167    3141/80492-001 CURRENT/130883173v17  #95685245v21   ARTICLE V  Affirmative Covenants  From and after the Restatement Date and until the Termination Date, each of the  U.S. Borrower and its Restricted Subsidiaries (except in the case of the covenants set forth in  Section 5.01 and Section 5.02) covenants and agrees with the Lenders that:  Section 5.01 Financial Statements and Other Information.  The U.S. Borrower  will furnish to the Administrative Agents which will furnish to the Lenders:  (a) within ninety (90) days after the end of each fiscal year of the U.S. Borrower, the  audited consolidated balance sheet and audited consolidated statements of income, stockholders’  equity and cash flows as of the end of and for such year for the U.S. Borrower and its Subsidiaries,  and related notes thereto, setting forth in each case in comparative form the figures for the previous  fiscal year, all reported on by Ernst & Young LLP, independent public accountants of recognized  national standing or other independent public accountants reasonably acceptable to the  Administrative Agents, with an unmodified report by such independent public accountants without  an emphasis of matter paragraph related to going concern as defined by Statement on Accounting  Standards AU-C Section 570 “The Auditor’s Consideration of an Entity’s Ability to Continue as  a Going Concern” (or any similar statement under any amended or successor rule as may be  adopted by the Auditing Standards Board from time to time) (except to the extent such emphasis  paragraph results solely from (i) a current maturity of the Loans, the Term Loan Exchange Notes,  the Additional Term Notes, the Unrestricted Additional Term Notes, the Refinancing Notes or the  Senior Notes or (ii) any potential inability to satisfy the covenants under Section 6.11 on a future  date or in a future period) and, for avoidance of doubt, without modification as to the scope of such  audit, to the effect that such consolidated financial statements present fairly in all material respects  the financial condition and results of operations of the U.S. Borrower and its Subsidiaries on a  consolidated basis in accordance in all material respects with GAAP (except as otherwise disclosed  in such financial statements) and a customary management discussion and analysis of the financial  condition and results of operations for such period;  (b) within forty-five (45) days after the end of each of the first three fiscal quarters of  each fiscal year of the U.S. Borrower, the unaudited consolidated balance sheet and unaudited  consolidated statements of income and cash flows as of the end of and for such fiscal quarter and  the then elapsed portion of the fiscal year for the U.S. Borrower and its Subsidiaries, setting forth  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 its Financial  Officer as presenting fairly in all material respects the financial condition and results of operations  of the U.S. Borrower and its Subsidiaries, subject to normal year-end audit adjustments and the  absence of footnotes, and a customary management discussion and analysis of the financial  condition and results of operations for such period;  (c) concurrently with the delivery of any financial statements under paragraphs (a)  and (b) above, a Compliance Certificate (i) certifying as to whether a Default exists and, if a  Default exists, specifying the details thereof and any action taken or proposed to be taken with  respect thereto, (ii) setting forth reasonably detailed calculations of the covenants contained in  Section 6.11, demonstrating compliance with such covenants and (iii) stating whether any material  

 

  168    3141/80492-001 CURRENT/130883173v17  #95685245v21   change in GAAP or in the application thereof has occurred since the date of the then most recently  delivered audited financial statements that would affect the compliance or non-compliance with  any financial ratio or requirement in this Agreement and, if any such change has occurred,  specifying the effect of such change on the financial statements accompanying such certificate;  (d) not later than ninety (90) days after the end of each fiscal year of the U.S.  Borrower, a reasonably detailed consolidated budget for the following fiscal year as customarily  prepared by management of the U.S. Borrower for its internal use consistent in scope with the  financial statements provided pursuant to Section 5.01(a) setting forth the principal assumptions  upon which such budget is based (collectively, the “Projections”), it being understood and agreed  that any financial or business projections furnished by any Loan Party (i)(A) are subject to  significant uncertainties and contingencies, which may be beyond the control of the Loan Parties,  (B) no assurance is given by the Loan Parties that the results or forecast in any such projections  will be realized and (C) the actual results may differ from the forecast results set forth in such  projections and such differences may be material and (ii) are not a guarantee of performance;  (e) promptly after the same become publicly available, copies of all material periodic  and other reports, proxy statements and other materials filed by the U.S. Borrower or any  Restricted Subsidiary with the SEC or with any national securities exchange;  (f) (i) simultaneously with the delivery of each set of consolidated financial  statements referred to in Section 5.01(a) or (b) above, the related consolidating financial statements  reflecting the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any)  from such consolidated financial statements; and  (g) promptly following any reasonable request therefor, such other information  regarding the operations, business affairs and financial condition of the U.S. Borrower or any  Restricted Subsidiary as either Administrative Agent may reasonably request, including  information requested on behalf of any Lender to comply with Section 9.14; provided that none of  the U.S. Borrower nor any Restricted Subsidiary will be required to disclose or permit the  inspection or discussion of, any document, information or other matter (i) that constitutes trade  secrets or proprietary information, (ii) in respect of which disclosure to any Administrative Agent  or any Lender (or their representatives or contractors) is prohibited by law, fiduciary duty or any  binding agreement or (iii) that is subject to attorney client or similar privilege or constitutes  attorney work product.    Notwithstanding the foregoing, the obligations in paragraphs (a) and (b) of this  Section 5.01 may be satisfied with respect to financial information of the U.S. Borrower and its  Subsidiaries by furnishing (A) the applicable consolidated financial statements of any direct or  indirect parent of the U.S. Borrower that, directly or indirectly, holds all of the Equity Interests of  the U.S. Borrower or (B) the U.S. Borrower’s (or any direct or indirect parent thereof, as  applicable) Form 10-K or 10-Q, as applicable, filed with the SEC; provided that, with respect to  each of clauses (A) and (B), to the extent such information is in lieu of information required to be  provided under Section 5.01(a), such materials are accompanied by a report and opinion of Ernst  & Young LLP or another independent registered public accounting firm of nationally recognized  standing or other Person reasonably acceptable to the Administrative Agents, with an unmodified  report by such independent public accountants without an emphasis of matter paragraph related to  

 

  169    3141/80492-001 CURRENT/130883173v17  #95685245v21   going concern as defined by Statement on Accounting Standards AU-C Section 570 “The  Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern” (or any similar  statement under any amended or successor rule as may be adopted by the Auditing Standards  Board from time to time) (except to the extent such emphasis paragraph results solely from (i) a  current maturity of the Loans, the Term Loan Exchange Notes, the Additional Term Notes, the  Unrestricted Additional Term Notes, the Refinancing Notes or the Senior Notes or (ii) any  potential inability to satisfy the covenants under Section 6.11 on a future date or in a future period)  and, for avoidance of doubt, without modification as to the scope of such audit, to the effect that  such consolidated financial statements present fairly in all material respects the financial condition  and results of operations of the U.S. Borrower and its Subsidiaries on a consolidated basis in  accordance in all material respects with GAAP (except as otherwise disclosed in such financial  statements).  Any financial statements or other documents, reports, proxy statements or other  materials (to the extent any such financial statements or documents, reports, proxy statements or  other materials are included in materials otherwise filed with the SEC) required to be delivered  pursuant to this Section 5.01 may be satisfied with respect to such financial statements or other  documents, reports, proxy statements or other materials by the filing of the U.S. Borrower’s Form  8-K, 10-K or 10-Q, as applicable, with the SEC.  All financial statements and other documents,  reports, proxy statements or other materials required to be delivered pursuant to this Section 5.01  or Section 5.02 may be delivered electronically and, if so delivered, shall be deemed to have been  delivered on the date (i) such financial statements and/or other documents are posted on the SEC’s  website on the Internet at www.sec.gov, (ii) on which the U.S. Borrower posts such documents, or  provide a link thereto, on the U.S. Borrower’s website or (iii) on which such documents are posted  on the U.S. Borrower’s behalf on an Internet or Intranet website, if any, to which each  Administrative Agent and each Lender has access (whether a commercial third-party website or a  website sponsored by an Administrative Agent), provided that (A) the U.S. Borrower shall, at the  request of any Administrative Agent, continue to deliver copies (which delivery may be by  electronic transmission (including Adobe pdf copy)) of such documents to each Administrative  Agent and (B) the U.S. Borrower shall notify (which notification may be by facsimile or electronic  transmission (including Adobe pdf copy)) each Administrative Agent  of the posting of any such  documents on any website.  Each Lender shall be solely responsible for timely accessing posted  documents or requesting delivery of paper copies of such documents from the Administrative  Agents and maintaining its copies of such documents.  Each Lender and each Administrative Agent  hereby acknowledges and agrees that the U.S. Borrower and its Subsidiaries may be required to  restate historical financial statements as the result of the implementation of changes in GAAP, or  the respective interpretation thereof or otherwise, and that such restatements will not result in a  Default or an Event of Default under the Loan Documents.  The Borrowers hereby acknowledges that (a) each Administrative Agent will make  available to the Lenders and the Issuing Bank materials and/or information provided by or on  behalf of the Borrowers hereunder (collectively, “Borrower Materials”) by posting the Borrower  Materials on IntraLinks or another similar electronic system (the “Platform”) and (b) certain of the  Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non- public information with respect to the U.S. Borrower or its Subsidiaries, or the respective securities  of any of the foregoing, and who may be engaged in investment and other market-related activities  

 

  170    3141/80492-001 CURRENT/130883173v17  #95685245v21   with respect to such Persons’ securities.  Each Borrower hereby agrees that it will use  commercially reasonable efforts to identify that portion of the Borrower Materials that are to be  made available to Public Lenders by marking Borrower Materials “PUBLIC,” each Borrower shall  be deemed to have authorized the Administrative Agents, the Joint Lead Arranger, the Issuing  Bank and the Lenders to treat such Borrower Materials as not containing any material non-public  information (although it may be sensitive and proprietary) with respect to each Borrower or its  securities for purposes of United States federal and state securities laws (provided, however, that  to the extent the Borrower Materials constitute Information, they shall remain subject to the  provisions of Section 9.12).  All Borrower Materials marked “PUBLIC” are permitted to be made  available through a portion of the Platform designated “Public Side Information;” and the  Administrative Agents shall be entitled to treat the Borrower Materials that are not marked  “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public  Side Information” (it being understood that the Borrowers shall be under no obligation to mark the  Borrower Materials “PUBLIC”).  Notwithstanding the foregoing, to the extent the Borrowers have  had a reasonable opportunity to review, the following Borrower Materials shall be deemed to be  marked “PUBLIC,” unless the Borrowers notify the Administrative Agents promptly that any such  document contains material non-public information: (1) the Loan Documents and (2) notification  of changes in the terms of the Loans.  Each Public Lender agrees to cause at least one individual at or on behalf of such  Public Lender to at all times have selected the “Private Side Information” or similar designation  on the content declaration screen of the Platform in order to enable such Public Lender or its  delegate, in accordance with such Public Lender’s compliance procedures and applicable law,  including foreign, United States federal and state securities laws, to make reference to  Communications that are not made available through the “Public Side Information” portion of the  Platform and that may contain material non-public information with respect to the Borrowers or  their respective securities for purposes of United States federal or state securities laws.  THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.”  THE  ADMINISTRATIVE AGENTS DO NOT WARRANT THE ACCURACY OR  COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE  PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS  FROM THE BORROWER MATERIALS.  NO WARRANTY OF ANY KIND, EXPRESS,  IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY,  FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY  RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY THE  ADMINISTRATIVE AGENTS IN CONNECTION WITH THE BORROWER MATERIALS OR  THE PLATFORM.  Section 5.02 Notices of Material Events.  The U.S. Borrower will furnish to each  Administrative Agent (for distribution to each Lender through the Administrative Agents)  prompt written notice of a Responsible Officer of either Borrower’s obtaining knowledge of any  of the following:  (a) the occurrence of any Default or Event of Default, in each case, except to the extent  the Administrative Agents shall have furnished the U.S. Borrower written notice thereof;  

 

  171    3141/80492-001 CURRENT/130883173v17  #95685245v21   (b) to the knowledge of a Responsible Officer of either Borrower, the filing or  commencement of any action, suit or proceeding by or before any arbitrator or Governmental  Authority against or threatened in writing against the U.S. Borrower or any Restricted Subsidiary  that would reasonably be expected to be adversely determined and if adversely determined, would  reasonably be expected to result, after giving effect to the coverage and policy limits of applicable  insurance policies, in a Material Adverse Effect;  (c) the occurrence of any ERISA Event that would reasonably be expected to result in  a Material Adverse Effect; and  (d) any other development (including notice of any claim or condition arising under  or relating to any Environmental Law) that results in, or would reasonably be expected to result  in, a Material Adverse Effect.   Each notice delivered under this Section shall be accompanied by a written statement of a  Responsible Officer of the U.S. Borrower setting forth the details of the event or development  requiring such notice and any action taken or proposed to be taken with respect thereto.   Documents required to be delivered pursuant to this Section 5.02 may be delivered electronically  in accordance with Section 5.01.  Section 5.03 Existence; Conduct of Business.  The U.S. Borrower will, and will  cause each Restricted Subsidiary to, do or cause to be done all things reasonably necessary to  obtain, preserve, renew and keep in full force and effect (a) its legal existence (except as  otherwise permitted hereunder), (b) the business licenses, permits, privileges, franchises and  other rights, other than Intellectual Property rights (which are covered in clause (c)), necessary  to conduct its business and (c) the Intellectual Property rights owned by the U.S. Borrower or a  Restricted Subsidiary and necessary to conduct their respective businesses, except, in the case of  clauses (a) (other than with respect to the Borrowers), (b) and (c), to the extent that failure to do  so would not reasonably be expected to result in a Material Adverse Effect, provided that the  foregoing shall not prohibit any transaction otherwise permitted hereunder.  Section 5.04 Payment of Taxes.  The U.S. Borrower will, and will cause each  Restricted Subsidiary to, pay all Tax liabilities, before any penalty accrues thereon, except where  (a)(i) any such payment is being contested in good faith by appropriate proceedings and (ii) the  U.S. Borrower or such Restricted Subsidiary has set aside on its books adequate reserves or other  appropriate provision with respect thereto in accordance with GAAP or (b) the failure to make  payment would not reasonably be expected to result in a Material Adverse Effect.  Section 5.05 Maintenance of Properties.  Except if the failure to do so would not,  individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect,  the U.S. Borrower will, and will cause each Restricted Subsidiary to, keep and maintain all  property material to the conduct of its business (other than any tangible property referenced in  Section 5.03 and Intellectual Property) in good working order and condition, ordinary wear and  tear excepted and casualty or condemnation excepted, provided that the foregoing shall not  prohibit any transaction otherwise permitted hereunder.  

 

  172    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 5.06 Insurance.  The U.S. Borrower will, and the U.S. Borrower will  cause each Restricted Subsidiary to, maintain, with financially sound and reputable insurance  companies, (a) insurance in such amounts (after giving effect to any self-insurance reasonable  and customary for similarly-situated Persons engaged in the same or similar business) and  against such risks as are (i) customarily maintained by companies engaged in the same or similar  businesses operating in the same or similar locations as reasonably determined by management  of the U.S. Borrower and (ii) considered adequate by the U.S. Borrower.  The U.S. Borrower  will furnish to the Administrative Agents, promptly following written request, information in  reasonable detail as to the insurance so maintained; provided that so long as no Event of Default  has occurred and is continuing, the U.S. Borrower shall only be required to provide such  information one time in any fiscal year of the U.S. Borrower.  No later than ninety (90) days (as  such period may be extended in the reasonable discretion of the Collateral Agent) after the  Restatement Date (or the date any such insurance is obtained, renewed or extended in the case  of insurance obtained, renewed or extended after the Restatement Date), the U.S. Borrower will  cause all property and casualty insurance policies with respect to Collateral to be endorsed or  otherwise amended to include a lender’s loss payable, mortgagee or additional insured, as  applicable, endorsement, or otherwise reasonably satisfactory to the Collateral Agent.  Section 5.07 Books and Records; Inspection and Audit Rights.  The U.S.  Borrower will, and will cause each Restricted Subsidiary to, keep proper books of record and  account in which full, true and correct entries (in all material respects) are made of all material  financial transactions in relation to its business and activities.  The U.S. Borrower will, and will  cause each Restricted Subsidiary to, permit any representatives designated by the Administrative  Agents, 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, all at such reasonable times and as often as reasonably requested, provided that only the  Administrative Agents on behalf of the Lenders may exercise rights under this Section 5.07 and  the Administrative Agents shall not exercise such rights more often than one time during any  fiscal year absent the existence of an Event of Default and, in any event, only one such time shall  be at the U.S. Borrower’s expense, and provided, further, that when an Event of Default has  occurred and is continuing the Administrative Agents (or any of their designated representatives)  may do any of the foregoing at the expense of the U.S. Borrower at any time during normal  business hours and upon reasonable advance notice.  The Administrative Agents shall provide  the U.S. Borrower the opportunity to participate in any discussions with any such independent  accountants.  Notwithstanding anything to the contrary in this Section 5.07, neither the U.S.  Borrower nor any Restricted Subsidiary will be required to disclose or permit the inspection or  discussion of, any document, information or other matter (i) that constitutes trade secrets or  proprietary information, (ii) in respect of which disclosure to the Administrative Agents or any  Lender (or their representatives or contractors) is prohibited by law, fiduciary duty or any  binding agreement or (iii) that is subject to attorney client or similar privilege or constitutes  attorney work product.  Section 5.08 Compliance with Laws.  The U.S. Borrower will, and will cause  each Restricted Subsidiary to, comply with all Requirements of Law with respect 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.  

 

  173    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 5.09 Use of Proceeds.    (a) The proceeds of the Initial Tranche A-1 Term Loans, the Initial Tranche A-2 Term  Loans and any Revolving Loans borrowed on the Amendment No. 3 Effective Date will be used,  together with cash on hand to consummate the Transactions, to repay the Existing Amendment  No. 3 Term Loans and to pay all or a portion of the Transaction Costs associated therewith.   (b) The proceeds of the Revolving Loans and Letters of Credit and any other Loans  borrowed after the Amendment No. 3 Effective Date will be used for working capital, capital  expenditures, general corporate purposes and any other purpose of the U.S. Borrower and its  Subsidiaries not otherwise prohibited under this Agreement (including, without limitation,  Restricted Payments, Investments, Acquisitions and to fund Transaction Costs).  (c) No part of the proceeds of any Loan will be used, whether directly or indirectly,  for any purpose that entails a violation of any of the Regulations of the Federal Reserve Board,  including Regulations T, U and X.    Section 5.10 Execution of Subsidiary Guaranty and Security Documents after  the Restatement Date.   (a) Subject to Section 5.11(b), (c) and (d), in the event that any Person becomes a  Domestic Restricted Subsidiary (including any Unrestricted Subsidiary that becomes a Domestic  Restricted Subsidiary) after the Restatement Date (other than any Domestic Restricted Subsidiary  for so long as it is an Excluded Subsidiary) or any Domestic Restricted Subsidiary (including any  Electing Guarantor) ceases to be an Excluded Subsidiary, the U.S. Borrower or other applicable  Loan Parties will promptly (and in no event later than forty-five (45) days thereafter or such later  date as each Administrative Agent may agree in its reasonable discretion) notify the Administrative  Agents of that fact and cause such Domestic Restricted Subsidiary to execute and deliver to the  Administrative Agents counterparts of the Subsidiary Guaranty and Collateral Agreement and each  other Security Document and to take all such further actions and execute all such further  documents and instruments as required by the Collateral Agreement and each other Security  Document to secure the Secured Obligations for the benefit of the Secured Parties (including all  actions necessary to cause such Lien to be duly perfected to the extent required by such Security  Document, including the filing of financing statements in such jurisdictions as may be reasonably  requested by the Administrative Agents).  In addition, as and to the extent provided in the  Collateral Agreement, as applicable, (subject to all applicable exceptions and limitations therein  and herein), the applicable Loan Party shall deliver to the Collateral Agent all certificates, if any,  representing Equity Interests of such Domestic Restricted Subsidiary (accompanied by undated  stock powers, duly endorsed in blank) and any other possessory Collateral, in each case as required  thereunder.  Under no circumstance will any Loan Party be required to execute any Security  Documents governed by the laws of any jurisdiction other than the United States of America, any  State thereof or the District of Columbia.  (b) Subject to Section 5.11(b), (c) and (d), in the event that any Person becomes a  Domestic Restricted Subsidiary after the Restatement Date (other than any Domestic Restricted  Subsidiary for so long as it is an Excluded Subsidiary), concurrently with the execution and  delivery of counterparts to the Subsidiary Guaranty and Collateral Agreement pursuant to Section  

 

  174    3141/80492-001 CURRENT/130883173v17  #95685245v21   5.10(a), such Domestic Restricted Subsidiary shall deliver to the Administrative Agents, (i)  certified copies of such Domestic Restricted Subsidiary’s Organizational Documents or, if such  document is of a type that may not be so certified, certified by the secretary or similar officer of  the applicable Domestic Restricted Subsidiary, and (ii) a certificate executed on behalf of such  Domestic Restricted Subsidiary by the secretary or similar officer of such Domestic Restricted  Subsidiary as to (a) the fact that the attached resolutions of the Governing Body of such Domestic  Restricted Subsidiary approving and authorizing the execution, delivery and performance of such  Loan Documents are in full force and effect and have not been modified or amended and (b) the  incumbency and signatures of the officers of such Domestic Restricted Subsidiary executing such  Loan Documents.  (c) If, at any time, (x) (i) a Restricted Subsidiary is designated as an Unrestricted  Subsidiary or an Immaterial Subsidiary in accordance with this Agreement or (ii) an Electing  Guarantor has been re-designated (at the option, and in the sole discretion, of the U.S. Borrower  in accordance with Section 5.12(b)) as an Excluded Subsidiary, the Collateral Agent shall release  such Subsidiary from any Subsidiary Guaranty and all Security Documents to which it may be a  party and to the extent such Subsidiary’s Equity Interests were pledged (or otherwise secured) as  Collateral, such pledge (or other security) shall be released and, upon the request of any Loan  Party, any certificates in respect thereof shall be promptly returned to the applicable Loan Party or  (y) solely with respect to the Obligations, adverse tax consequences could (in the good faith  determination of the U.S. Borrower in consultation with the Administrative Agents) result (i) from  any Security Document executed and delivered by any Subsidiary of the U.S. Borrower that is a  Foreign Subsidiary or any CFC Holding Company, the Collateral Agent shall release such  Restricted Subsidiary from any such Security Document, or (ii) from any Lien granted under any  Loan Document in respect of the Equity Interests in any Foreign Subsidiary or CFC Holding  Company, such Lien shall be released.  Notwithstanding the foregoing, in no event shall Equity  Interests of any Unrestricted Subsidiary or any of such Unrestricted Subsidiary’s assets constitute  Collateral, and the Administrative Agents and Collateral Agent shall take all actions required  hereunder and under the other Loan Documents to effect the foregoing.  (d) Notwithstanding anything herein to the contrary, the release of any Guarantee  solely as a result of such Loan Party ceasing to be a wholly-owned Subsidiary pursuant to a  transaction with an Affiliate shall only be permitted if, at the time such Loan Party ceases to be a  wholly-owned Subsidiary, the primary purpose of such transaction was not to evade the Guarantee  and the fair market value of such Subsidiary at the time it is released of its Guarantee shall be  treated as an Investment by the Borrowers at the time of such release (and such release shall only  be permitted if such deemed Investment is permitted).  Section 5.11 Further Assurances.   (a) Subject to Section 5.10 and Section 5.11(b), (c) and (d) and the terms, conditions  and provisions of the Security Documents applicable to such Loan Party, the Borrowers shall, and  shall cause the other Loan Parties to, promptly upon reasonable request by any Administrative  Agent or the Collateral Agent (i) correct any jointly identified material defect or error that may be  discovered in the execution, acknowledgment, filing or recordation of any Security Document or  other document or instrument relating to any Collateral, and (ii) do, execute, acknowledge, deliver,  record, re-record, file, re-file, register and re-register any and all such further acts, deeds,  

 

  175    3141/80492-001 CURRENT/130883173v17  #95685245v21   certificates, assurances and other instruments as any Administrative Agent or the Collateral Agent  may reasonably request from time to time, and in order to carry out more effectively the purposes  thereof, in each case, to the extent required by this Agreement and the Security Documents.    (b) Notwithstanding anything in this Agreement or any Security Document to the  contrary: (i) neither of the Administrative Agents nor the Collateral Agent shall take, and the Loan  Parties shall not be required to grant, a security interest in any Excluded Property; (ii) any security  interest required to be granted or any action required to be taken, including to perfect such security  interest, shall be subject to the same exceptions and limitations as those set forth in the Security  Documents; (iii) no Loan Party shall be required, nor shall the Administrative Agents or the  Collateral Agent be authorized, except with respect to the pledge of 65% of the Equity Interests of  first tier Foreign Subsidiaries, in each case, as set forth in Section 5.10(a), to perfect any pledges,  charges, assignments, security interests and mortgages in any Collateral by any means other than  (A) filings pursuant to the UCC in the office of the secretary of state (or similar central filing  office) of the relevant State(s), (B) filings of intellectual property security agreements in the United  States Patent and Trademark Office or United States Copyright Office with respect to issued,  registered or applied-for United States Intellectual Property as expressly required by the Loan  Documents, (C) delivery to the Collateral Agent to be held in its possession of all Collateral  consisting of intercompany notes in an amount individually in excess of $5,000,000, stock  certificates of the U.S. Borrower and its Restricted Subsidiaries and other instruments issued to  any Loan Party in an amount individually in excess of $5,000,000, and (D) necessary perfection  steps with respect to Commercial Tort Claims and Letter of Credit Rights, in each case, in an  amount individually in excess of $5,000,000, and other than as expressly required by Section  5.10(a) or (b), no Loan Party or any Domestic Restricted Subsidiary shall be required to take any  action outside the United States to perfect any security interest in the Collateral (including the  execution of any agreement, document or other instrument governed by the law of any jurisdiction  other than the United States of America, any State thereof or the District of Columbia); (iv) no  Loan Party shall have any obligation under any Loan Document to enter into any landlord, bailee  or warehousemen waiver, estoppel or consent or any other document of similar effect; (v) in no  event shall any Loan Party be required to take any action to perfect the security interest granted  under the Security Documents in Collateral consisting of (A) cash or Cash Equivalents, (B)  entering into any deposit account control agreement or securities account control agreement with  respect to any deposit account or securities account (including securities entitlements and related  assets credited thereto) or (C) other assets requiring perfection through the implementation of  control agreements or perfection by “control” (other than possession by the Collateral Agent to the  extent expressly required under the Security Documents) in each case under this clause (v), except,  in each case, to the extent such perfection may be achieved by the filing of a UCC financing  statement; and (vi) no Loan Party shall be required to enter into any source code escrow  arrangement or be obligated to register Intellectual Property.  (c) Neither the Administrative Agents nor the Collateral Agent shall obtain or perfect  a security interest in any assets of any Loan Party as to which any Administrative Agent shall  determine, in its reasonable discretion, that the cost of obtaining or perfecting such security interest  is excessive in relation to the benefit to the Lenders of the security afforded thereby (such  comparison to be determined in a manner consistent with any such determination made in  connection with the Closing Date) or would otherwise violate applicable law.  

 

  176    3141/80492-001 CURRENT/130883173v17  #95685245v21   (d) Notwithstanding anything in this Agreement or any Security Document to the  contrary, each Administrative Agent may, in its sole discretion, grant extensions of time for the  satisfaction of any of the requirements under Section 5.10 and Section 5.11 in respect of any  particular Collateral or any particular Subsidiary if it determines that the satisfaction thereof with  respect to such Collateral or such Subsidiary cannot be accomplished without undue expense or  unreasonable effort or due to factors beyond the control of the U.S. Borrower and the Restricted  Subsidiaries by the time or times at which it would otherwise be required to be satisfied under this  Agreement or any Security Document.  Section 5.12 Designation of Subsidiaries.    (a) The U.S. Borrower may designate (or re-designate) any Restricted Subsidiary  (other than the U.K. Borrower) as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a  Restricted Subsidiary; provided that immediately before and after such designation, no Event of  Default shall have occurred and be continuing.  The designation of any such Subsidiary as an  Unrestricted Subsidiary after the Restatement Date in accordance with this Section 5.12(a) shall  constitute an Investment by the U.S. Borrower or the relevant Restricted Subsidiary, as applicable,  therein at the date of designation in an amount equal to the fair market value (as determined in  good faith by the U.S. Borrower) of the Investments held by the U.S. Borrower and/or the  applicable Restricted Subsidiaries in such Unrestricted Subsidiary immediately prior to such  designation. Upon any such designation (but without duplication of any amount reducing such  Investment in such Unrestricted Subsidiary pursuant to the definition of “Investment”), the U.S.  Borrower and/or the applicable Restricted Subsidiaries shall receive a credit against the applicable  clause in Section 6.04 that was utilized for the Investment in such Unrestricted Subsidiary for all  Returns in respect of such Investment.  The designation of any Unrestricted Subsidiary as a  Restricted Subsidiary in accordance with this Section 5.12 shall constitute the incurrence by such  Restricted Subsidiary at the time of designation of any Indebtedness or Liens of such Restricted  Subsidiary outstanding at such time (to the extent assumed).  (b) The U.S. Borrower may designate (or re-designate) any Restricted Subsidiary that  is an Excluded Subsidiary, as an Electing Guarantor.  The U.S. Borrower may designate (or re- designate) any Electing Guarantor as an Excluded Subsidiary; provided that (i) after giving effect  to such release, such Restricted Subsidiary shall not be a guarantor of Senior Notes, any Credit  Agreement Refinancing Indebtedness, any Additional Term Notes, any Unrestricted Additional  Term Notes, any Term Loan Exchange Notes or any Additional Debt, (ii) such redesignation shall  constitute an Investment by the U.S. Borrower or the relevant Restricted Subsidiary, as applicable,  therein at the date of designation in an amount equal to the fair market value (as determined in  good faith by the U.S. Borrower) of the Investments held by the U.S. Borrower and/or the  Restricted Subsidiaries in such Electing Guarantor immediately prior to such re-designation and  such Investments shall otherwise be permitted hereunder and (iii) any Indebtedness or Liens of  such Restricted Subsidiary (after giving effect to such release) shall be deemed to be incurred at  the time of such release by such Electing Guarantor and such incurrence shall otherwise be  permitted hereunder.    (c) Notwithstanding anything herein to the contrary, the U.S. Borrower may not  designate as an Unrestricted Subsidiary any Subsidiary that owns Material Intellectual Property at  the time of such designation.  

 

  177    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 5.13 Conduct of Business.  From and after the Restatement Date, the  U.S. Borrower and its Restricted Subsidiaries will engage only in lines of business of the type  engaged in by the U.S. Borrower and its Restricted Subsidiaries on the Restatement Date and  similar, ancillary, supportive, complementary, synergetic or related businesses or reasonable  extensions thereof (and non-core incidental businesses acquired in connection with any  Acquisition or permitted Investment or other immaterial businesses).  Section 5.14 Maintenance of Ratings.  The U.S. Borrower will use commercially  reasonable efforts to maintain a public corporate credit rating from S&P and a public corporate  family rating from Moody’s, in each case in respect of the U.S. Borrower, and a public rating of  the Loans by each of S&P and Moody’s but not, in each case, any specific rating.  Section 5.15 [Reserved].     Section 5.16 Post-Closing Covenants. The U.S. Borrower agrees to deliver, or  cause to be delivered, to the Administrative Agents, the items described on Schedule 5.16 on the  dates and by the times specified with respect to such items, or such later time as may be agreed  to by the Administrative Agents in their reasonable discretion.  Section 5.17 Transactions with Affiliates.  The U.S. Borrower will not, nor will  the U.S. Borrower permit any Restricted Subsidiary to, sell, lease or otherwise transfer any  property or assets to, or purchase, lease or otherwise acquire any property or assets from, or  otherwise engage in any other transactions with, any of its Affiliates, with a fair market value in  excess of $20,000,000 except (a) transactions at prices and on terms and conditions (taken as a  whole) not materially less favorable to the U.S. Borrower or such Restricted Subsidiary than  could reasonably be expected to be obtained on an arm’s-length basis from unrelated third parties  (as determined in good faith by the U.S. Borrower); (b) transactions between or among the U.S.  Borrower and the Loan Parties (or any entity that becomes a Loan Party as a result of such  transaction) not involving any other Affiliate; (c) loans or advances to employees, officers and  directors permitted under Section 6.04; (d) payroll, travel and similar advances to cover matters  permitted under Section 6.04; (e) the payment of reasonable fees and reimbursement of out-of- pocket expenses to directors of the U.S. Borrower or any Restricted Subsidiary; (f) compensation  (including bonuses) and employee benefit arrangements paid to, indemnities provided for the  benefit of, and employment and severance arrangements entered into with, directors, officers,  managers, consultants or employees of the U.S. Borrower or the Subsidiaries in the ordinary  course of business, including in connection with any transaction permitted hereunder; (g) any  issuances of securities or other payments, awards or grants in cash, securities or otherwise  pursuant to, or the funding of, employment agreements, stock options and stock ownership plans;  (h) payment of fees and expenses pursuant to the Transactions; (i) any Restricted Payment and  payments on Indebtedness not prohibited by Section 6.06; (j) any transaction among the U.S.  Borrower and its Subsidiaries for the sharing of liabilities for taxes so long as the payments made  pursuant to such transaction are made by and among the members of the U.S. Borrower’s  “affiliated group” (as defined in the Code); (k) transactions between and among the Borrowers  and the Guarantors which are in the ordinary course of business; (l) [reserved]; (m) the existence  and performance of agreements and transactions with any Unrestricted Subsidiary that were  entered into prior to the designation of a Restricted Subsidiary as such Unrestricted Subsidiary  to the extent that the transaction was permitted at the time that it was entered into with such  

 

  178    3141/80492-001 CURRENT/130883173v17  #95685245v21   Restricted Subsidiary and transactions entered into by an Unrestricted Subsidiary with an  Affiliate prior to the redesignation of any such Unrestricted Subsidiary as a Restricted  Subsidiary; (n) any customary transaction with a Receivables Facility, Qualified Securitization  Financing or a Securitization Subsidiary effected as part of a Qualified Securitization Financing;  (o) any Intercompany License Agreements; (p) transactions set forth on Schedule 5.17, as these  agreements and instruments may be amended, modified, supplemented, extended, renewed or  refinanced from time to time in accordance with the other terms of this covenant or to the extent  not more disadvantageous to the Secured Parties in any material respect (taken as a whole);  (q) payments to or from, and transactions with, joint ventures (to the extent any such joint venture  is only an Affiliate as a result of Investments by the U.S. Borrower and the Restricted  Subsidiaries in such joint venture) in the ordinary course of business; (r) loans and other  transactions by and among the U.S. Borrower and its Restricted Subsidiaries; (s) transactions by  the U.S. Borrower and its Restricted Subsidiaries with customers, clients, joint venture partners,  suppliers or purchasers or sellers of goods or services, in each case in the ordinary course of  business and otherwise in compliance with the terms of this Agreement that are fair to the U.S.  Borrower and the Restricted Subsidiaries, as determined in good faith by the board of directors  or the senior management of the relevant Person, or are on terms at least as favorable as might  reasonably have been obtained at such time from an unaffiliated party; (t) any transaction  between or among the U.S. Borrower or any Restricted Subsidiary and any Affiliate of the U.S.  Borrower or a Joint Venture or similar entity that would constitute an Affiliate transaction solely  because the U.S. Borrower or a Restricted Subsidiary owns an equity interest in or otherwise  controls such Affiliate, Joint Venture or similar entity; and (u) transactions in which the U.S.  Borrower or any Restricted Subsidiary, as the case may be, delivers to the Administrative Agents  a letter from an independent financial advisor stating that such transaction is fair to the U.S.  Borrower or such Restricted Subsidiary from a financial point of view or meets the requirements  of clause (a) of this Section 5.17.    ARTICLE VI  Negative Covenants  From and after the Restatement Date and until the Termination Date, each of the  U.S. Borrower and its Restricted Subsidiaries covenants and agrees with the Lenders that:  Section 6.01 Indebtedness; Certain Equity Securities.  The U.S. Borrower will  not, nor will the U.S. Borrower permit any Restricted Subsidiary to, create, incur, assume or  permit to exist any Indebtedness, except:  (a) Indebtedness created under the Loan Documents;  (b) Indebtedness of the U.S. Borrower or any other Restricted Subsidiary to the U.S.  Borrower or any other Restricted Subsidiary, provided that (1) Indebtedness of any Restricted  Subsidiary that is not a Loan Party owing to any Loan Party shall, in each case, be incurred (x) in  the ordinary course of business (which includes pursuant to any Intercompany License  Agreement), (y) [reserved] or (z) as otherwise permitted by Section 6.04 (other than due to Section  6.04(aa)) and (2) Indebtedness of any Loan Party owing to a Restricted Subsidiary that is not a  

 

  179    3141/80492-001 CURRENT/130883173v17  #95685245v21   Loan Party shall be subordinated to the Obligations on terms which prohibit the repayment thereof  after the acceleration of the Loans or bankruptcy of such Loan Party;  (c) Guarantees by the U.S. Borrower or any Restricted Subsidiary of Indebtedness of  the U.S. Borrower or any other Restricted Subsidiary, provided that (1) the Indebtedness so  Guaranteed is otherwise permitted by this Section, (2) Guarantees by any Loan Party of  Indebtedness of any Restricted Subsidiary that is not a Loan Party shall, in each case, be (x) made  in the ordinary course of business or (y) permitted by Section 6.04 (other than due to Section  6.04(aa)) and (3) if Indebtedness being guaranteed is subordinated in right of payment to the  Obligations under the Loan Documents, such Guarantees permitted under this clause (c) shall be  subordinated to the applicable Loan Party’s Obligations to the same extent and on the same terms  as the Indebtedness so Guaranteed is subordinated to the Obligations and (4) none of the Senior  Notes shall be Guaranteed by any Restricted Subsidiary of the U.S. Borrower unless such  Restricted Subsidiary is or, prior to, or substantially concurrent with, issuing such Guarantee,  becomes a Loan Party;  (d) (1) Indebtedness incurred to finance the acquisition, development, construction,  restoration, replacement, rebuilding, maintenance, upgrade or improvement of any fixed or capital  assets, including Capital Lease Obligations, Synthetic Lease Obligations and any Indebtedness  assumed in connection with the acquisition of any such assets or secured by a Lien on any such  assets prior to the acquisition thereof, provided that such Indebtedness is incurred prior to or within  270 days after such acquisition or the completion of such development, construction, restoration,  replacement, rebuilding, maintenance, upgrade or improvement, and (2) extensions, renewals and  replacements of any such Indebtedness so long as the principal amount of such extensions,  renewals and replacements does not exceed the principal amount of the Indebtedness being  extended, renewed or replaced (plus any accrued but unpaid interest (including any portion thereof  which is payable in kind in accordance with the terms of such extended, renewed or replaced  Indebtedness) and premium payable by the terms of such Indebtedness thereon and fees and  expenses associated therewith), provided that the aggregate principal amount of Indebtedness  permitted by this clause (d) at any time outstanding shall not exceed the greater of (x)  $260,000,000 and (y) 25.0% of LTM EBITDA computed on a Pro Forma Basis as of the  Applicable Date of Determination;  (e) (1) Indebtedness of (A) any Person acquired or assumed in connection with an  Acquisition or permitted Investment or any assets acquired in connection therewith and (B) any  Unrestricted Subsidiary that is redesignated as a Restricted Subsidiary (it being acknowledged that  (x) a Person that becomes a direct or indirect Restricted Subsidiary of the U.S. Borrower as a result  of an Acquisition or a permitted Investment may remain liable with respect to Indebtedness  existing on the date of such acquisition and (y) an Unrestricted Subsidiary that is redesignated as  a Restricted Subsidiary may remain liable with respect to Indebtedness existing on the date of such  redesignation); provided that (i) such Indebtedness is not created in anticipation of such acquisition  and (ii) the aggregate principal amount of such Indebtedness incurred under this clause (e)  (including the amount of all Permitted Refinancings under clause (b) below) does not exceed  (a) the greater of $260,000,000 and 25.0% LTM EBITDA computed on a Pro Forma Basis as of  the Applicable Date of Determination at any time outstanding plus (b) unlimited additional  Indebtedness if, for purposes of this clause (b), immediately after giving effect to such Acquisition,  

 

  180    3141/80492-001 CURRENT/130883173v17  #95685245v21   permitted Investment or redesignation, as the case may be, and the assumption of such  Indebtedness, the Consolidated Interest Coverage Ratio computed on a Pro Forma Basis as of the  Applicable Date of Determination is not less than the lesser of (A) 2.00:1.00 and (B) the  Consolidated Interest Coverage Ratio immediately prior to the consummation of such Acquisition,  permitted Investment or redesignation and the assumption of such Indebtedness; and (2) any  Permitted Refinancings thereof;  (f) other Indebtedness in an aggregate principal amount outstanding at any time not  exceeding the greater of (x) $295,000,000 and (y) 25.0% of LTM EBITDA computed on a Pro  Forma Basis as of the Applicable Date of Determination;  (g) Indebtedness owed to any Person (including obligations in respect of letters of  credit for the benefit of such Person) providing workers’ compensation, health, disability or other  employee benefits or property, casualty, liability insurance, self-insurance, pursuant to  reimbursement or indemnification obligations to such Person, in each case incurred in the ordinary  course of business or consistent with past practice;  (h) Indebtedness in respect of or guarantee of performance bonds, bid bonds, appeal  bonds, surety bonds, performance and completion guarantees, workers’ compensation claims,  letters of credit, bank guarantees and banker’s acceptances, warehouse receipts or similar  instruments and similar obligations (other than in respect of other Indebtedness for borrowed  money) including, without limitation, those incurred to secure health, safety and environmental  obligations, in each case provided in the ordinary course of business or consistent with past  practice;   (i) Indebtedness in respect of Swap Agreements not entered into for speculative  purposes;  (j) Indebtedness of any Restricted Subsidiary that is not a Loan Party; provided that  the aggregate amount of Indebtedness permitted under this clause (j) shall not exceed the sum of  (A) the greater of (x) $195,000,000 and (y) 15.0% of LTM EBITDA as of the Applicable Date of  Determination plus (B) additional Indebtedness incurred from time to time pursuant to asset based  revolving facilities provided by commercial banks or similar financial institutions; provided that  (1) such Indebtedness is secured by Liens on the current assets of Restricted Subsidiaries that are  not Loan Parties (and not on the Collateral), (2) Loan Parties shall not Guarantee such  Indebtedness unless such Guarantee would otherwise be permitted under Section 6.02, and  (3) borrowings under such asset based revolving facilities shall be subject to a borrowing base or  similar advance rate criteria;  (k) Indebtedness with respect to financial accommodations of the nature described in  the definition of “Cash Management Obligations,” and other Indebtedness in respect of treasury,  depositary, cash management and netting services, automatic clearinghouse arrangements,  overdraft protections and similar arrangements or otherwise in connection with securities accounts  and deposit accounts, in each case, in the ordinary course of business;  

 

  181    3141/80492-001 CURRENT/130883173v17  #95685245v21   (l) Indebtedness consisting of (1) the financing of insurance premiums or (2) take or  pay obligations contained in supply arrangements, in each case, in the ordinary course of business  or consistent with past practice;  (m) Indebtedness arising from agreements providing for indemnification, adjustment  of purchase price adjustments (including earn-outs) or similar obligations, in each case incurred or  assumed in connection with the acquisition or disposition of any business or assets permitted under  this Agreement;  (n) (1) Credit Agreement Refinancing Indebtedness issued, incurred or otherwise  obtained in exchange for or to refinance Term Loans and/or Revolving Loans and Commitments  so long as the requirements of Section 2.11(e) are complied with and (2) any Permitted Refinancing  of any thereof;  (o) (1) Indebtedness described on Schedule 6.01 annexed hereto and (2) any Permitted  Refinancing of any of the foregoing;  (p) endorsement of instruments or other payment items for deposit in the ordinary  course of business;  (q) (1) Indebtedness incurred in connection with the repurchase of Equity Interests  pursuant to Section 6.06(a)(v) and (2) Permitted Refinancings thereof; provided that the original  principal amount of any such Indebtedness incurred pursuant this clause (q) shall not exceed the  amount of such Equity Interests so repurchased with such Indebtedness (or with the proceeds  thereof);  (r) (1) the Senior Notes and (2) any Permitted Refinancing thereof;  (s) to the extent constituting Indebtedness, Guarantees in the ordinary course of  business of the obligations of suppliers, customers, franchisees and licensees of the U.S. Borrower  and its Subsidiaries;  (t) Indebtedness (other than Indebtedness for borrowed money) supported by any  Letter of Credit, in each case, in an amount not to exceed the face amount of such Letter of Credit;  (u) obligations in respect of letters of support, guarantees or similar obligations issued,  made or incurred for the benefit of any Subsidiary of the U.S. Borrower to the extent required by  law or in connection with any statutory filing or the delivery of audit opinions performed in  jurisdictions other than within the United States;  (v) Indebtedness incurred in connection with Permitted Sale Leaseback transactions  in an aggregate principal amount not to exceed $100,000,000 at any time;  (w)  Indebtedness of (a) any Securitization Subsidiary arising under any Securitization  Facility or (b) the U.S. Borrower or any Restricted Subsidiary arising under any Receivables  Facility, in an aggregate principal amount not to exceed $750,000,000;  

 

  182    3141/80492-001 CURRENT/130883173v17  #95685245v21   (x) (1) Additional Term Notes, Unrestricted Additional Term Notes, Refinancing  Notes and Term Loan Exchange Notes and (2) Permitted Refinancings of any of the foregoing;   (y) Obligations in respect of Disqualified Equity Interests in an amount not to exceed  $17,500,000 outstanding at any time;  (z) (1) Additional Debt in an aggregate amount not to exceed (A) $100,000,000  outstanding at any time plus (B) unlimited Additional Debt if, for purposes of this clause (B)  immediately before and after giving effect to each such incurrence and the application of the  proceeds therefrom, (i) no Event of Default has occurred and is continuing or would result  therefrom and (ii) the Consolidated Interest Coverage Ratio computed on a Pro Forma Basis as of  the Applicable Date of Determination shall not be less than 2.00:1.00; provided that if such  Additional Debt is incurred in connection with a Permitted Acquisition or other Investment, (x)  such Consolidated Interest Coverage Ratio shall not be less than 2.00:1.00 or (y) such Consolidated  Interest Coverage Ratio shall not be less than the Consolidated Interest Coverage Ratio  immediately prior to the consummation of such Permitted Acquisition or other Investment and the  incurrence of such Indebtedness (provided that, in the case of a Permitted Acquisition or other  Investment, such Consolidated Interest Coverage Ratio will be tested at the time of entering into a  definitive agreement with respect thereto); provided further, that the maximum aggregate principal  amount of such Additional Debt that may be incurred pursuant to this clause (z) by a Restricted  Subsidiary that is not a Loan Party shall not exceed $30,000,000 at any time and (2) any Permitted  Refinancing thereof;  (aa) (1) Indebtedness in an amount equal to 100% of the aggregate Net Proceeds  received after the Restatement Date from the issue or sale of Qualified Equity Interests and to the  extent such Net Proceeds or cash have been contributed as common equity (or other Equity  Interests on terms reasonably acceptable to the Administrative Agents) to the U.S. Borrower and  have not been applied pursuant to Section 6.04 or Section 6.06; and (2) any Permitted Refinancings  thereof.  For purposes of determining compliance with this Section 6.01, in the event that an  item of Indebtedness (or any portion thereof) at any time meets the criteria of more than one of the  categories described above in this Section 6.01 or is entitled to be incurred pursuant to clauses (d),  (e), (f), (j), (n), (o), (q), (v), (w), (y), (z) and (aa) of this Section 6.01, the Borrowers, in their sole  discretion, may classify or reclassify (or later divide, classify or reclassify) such item of  Indebtedness (or any portion thereof) and shall only be required to include the amount and type of  such Indebtedness in one of the above clauses.  Accrual of interest or dividends, the accretion of  accreted value, the accretion or amortization of original issue discount and the payment of interest,  premium, fees or expenses, in the form of additional Indebtedness, Disqualified Equity Interests  or preferred stock shall not be deemed to be an incurrence of Indebtedness for purposes of this  Section 6.01.    For purposes of determining compliance with any restriction on the incurrence of  Indebtedness, the principal amount of Indebtedness denominated in a foreign currency shall be  calculated based on the relevant currency exchange rate in effect on the date such Indebtedness  was incurred, in the case of term debt, or first committed, in the case of revolving credit debt;  provided that if such Indebtedness is incurred to extend, replace, refund, refinance, renew or  

 

  183    3141/80492-001 CURRENT/130883173v17  #95685245v21   defease other Indebtedness denominated in a foreign currency, and such extension, replacement,  refunding, refinancing, renewal or defeasance would cause the applicable restriction to be  exceeded if calculated at the relevant currency exchange rate in effect on the date of such  extension, replacement, refunding, refinancing, renewal or defeasance, such restriction shall be  deemed not to have been exceeded so long as the principal amount of such refinancing  Indebtedness does not exceed the principal amount of such Indebtedness being extended, replaced,  refunded, refinanced, renewed or defeased, plus the amount of any premium paid, and fees and  expenses incurred, in connection with such extension, replacement, refunding refinancing, renewal  or defeasance (including any fees and original issue discount incurred in respect of such resulting  Indebtedness).  Section 6.02 Liens.  The U.S. Borrower will not, nor will the U.S. Borrower  permit any Restricted Subsidiary to, create, incur, assume or permit to exist any Lien on any  property or asset now owned or hereafter acquired by it, except:  (a) Liens pursuant to any Loan Document;  (b) Permitted Encumbrances;   (c) any Lien on any property or asset of the U.S. Borrower or any Restricted  Subsidiary existing on the Restatement Date; provided that any Lien securing obligations in excess  of (x) $2,500,000 individually or (y) $25,000,000 in the aggregate (when taken together with all  other Liens securing obligations outstanding in reliance on this clause (c) that are not listed on  Schedule 6.02) shall only be permitted to the extent such Lien is permitted by another clause in  this Section 6.02; provided that (i) such Lien shall not apply to any other property or asset of the  U.S. Borrower or any Restricted Subsidiary (other than any replacements of such property or assets  and additions and accessions thereto, after-acquired property subjected to a Lien securing  Indebtedness and other obligations incurred prior to such time and which Indebtedness and other  obligations are permitted hereunder that require, pursuant to their terms at such time, a pledge of  after-acquired property, it being understood that such requirement shall not be permitted to apply  to any property to which such requirement would not have applied but for such acquisition, or  asset of the U.S. Borrower or any Restricted Subsidiary and the proceeds and the products thereof  and customary security deposits in respect thereof and in the case of multiple financings of  equipment provided by any lender, other equipment financed by such lender) and (ii) such Lien  shall secure only those obligations and unused commitment that it secures on the Restatement Date  and extensions, renewals and replacements thereof so long as the principal amount of such  extensions, renewals and replacements does not exceed the principal amount of the obligations  being extended, renewed or replaced (plus any accrued but unpaid interest (including any portion  thereof which is payable in kind in accordance with the terms of such extended, renewed or  replaced Indebtedness) and premium payable by the terms of such obligations thereon and  reasonable fees and expenses associated therewith);  (d) any Lien existing on any property or asset prior to the acquisition thereof by the  U.S. Borrower or any Restricted Subsidiary or existing on any property or asset of any Person that  became or becomes a Restricted Subsidiary (including as a result of any Unrestricted Subsidiary  being redesignated as a Restricted Subsidiary) after the Restatement Date prior to the time such  Person became or becomes a Restricted Subsidiary; provided that (i) such Lien is not created in  

 

  184    3141/80492-001 CURRENT/130883173v17  #95685245v21   contemplation of such acquisition or such Person becoming a Restricted Subsidiary as the case  may be, (ii) such Lien shall not apply to any other property or asset of the U.S. Borrower or any  Restricted Subsidiary (other than any replacements of such property or assets and additions and  accessions thereto, after-acquired property subjected to a Lien securing Indebtedness and other  obligations incurred prior to such time and which Indebtedness and other obligations are permitted  hereunder that require, pursuant to their terms at such time, a pledge of after-acquired property,  and the proceeds and the products thereof and customary security deposits in respect thereof and  in the case of multiple financings of equipment provided by any lender, other equipment financed  by such lender) and (iii) such Lien shall secure only those obligations and unused commitments  (and to the extent such obligations and commitments constitute Indebtedness, such Indebtedness  is permitted hereunder) that it secures on the date of such acquisition or the date such Person  becomes a Restricted Subsidiary, as the case may be, and extensions, renewals and replacements  thereof so long as the principal amount of such extensions, renewals and replacements does not  exceed the principal amount of the obligations being extended, renewed or replaced (plus any  accrued but unpaid interest (including any portion thereof which is payable in kind in accordance  with the terms of such extended, renewed or replaced Indebtedness) and premium payable by the  terms of such obligations thereon and fees and expenses associated therewith);  (e) Liens on fixed or capital assets acquired, developed, constructed, restored,  replaced, rebuilt, maintained, upgraded or improved (including any such assets made the subject  of a Capital Lease Obligation or Synthetic Lease Obligation incurred) by the U.S. Borrower or any  Restricted Subsidiary; provided that (i) such Liens secure Indebtedness incurred to finance such  acquisition, development, construction, restoration, replacement, rebuilding, maintenance,  upgrade or improvement and that is permitted by Section 6.01(d), or to extend, renew or replace  such Indebtedness and that is permitted by Section 6.01(e), (ii) such Liens and the Indebtedness  secured thereby are incurred prior to or within 270 days after such acquisition or the completion  of such development, construction, restoration, replacement, rebuilding, maintenance, upgrade or  improvement (provided that this clause (ii) shall not apply to any Indebtedness permitted by  Section 6.01(e) or any Lien securing such Indebtedness) and (iii) such Liens shall not apply to any  other property or assets of the U.S. Borrower or any Restricted Subsidiary (other than any  replacements of such property or assets and additions and accessions thereto and the proceeds and  the products thereof and customary security deposits in respect thereof and in the case of multiple  financings of equipment provided by any lender, other equipment financed by such lender);  (f) Liens (i) of a collecting bank arising in the ordinary course of business under  Section 4-208 of the Uniform Commercial Code in effect in the relevant jurisdiction covering only  the items being collected upon, (ii) in favor of a banking or other financial institution arising as a  matter of law encumbering deposits or other funds maintained with a financial institution  (including the right of set off) and which are within the general parameters customary in the  banking industry or (iii) encumbering reasonable customary initial deposits and margin deposits  and similar Liens attaching to commodity trading accounts or other brokerage accounts incurred  in the ordinary course of business and not for speculative purposes;  (g) Liens representing (i) any interest or title of a licensor, lessor or sublicensor or  sublessor under any lease or license permitted by this Agreement, (ii) any Lien or restriction that  the interest or title of such lessor, licensor, sublessor or sublicensor may be subject to, or (iii) the  

 

  185    3141/80492-001 CURRENT/130883173v17  #95685245v21   interest of a licensee, lessee, sublicensee or sublessee arising by virtue of being granted a license  or lease permitted by this Agreement;  (h) Liens arising out of conditional sale, title retention, consignment or similar  arrangements for the sale of goods;   (i) the filing of UCC (or equivalent) financing statements solely as a precautionary  measure in connection with operating leases or consignment of goods;  (j) Liens not otherwise permitted by this Section to the extent that the aggregate  outstanding amount (or in the case of Indebtedness, the principal amount) of the obligations  secured thereby at any time (considered together with any Liens under clause (bb) below in respect  of Liens initially incurred under this clause (j)) does not exceed the greater of (i) $295,000,000  and (ii) 25.0% of LTM EBITDA computed on a Pro Forma Basis as of the Applicable Date of  Determination;  (k) Liens granted by a Restricted Subsidiary that is not a Loan Party in favor of any  Loan Party in respect of Indebtedness or other obligations owed by such Restricted Subsidiary to  such Loan Party;  (l) Liens (i) attaching solely to cash advances and cash earnest money deposits in  connection with Investments permitted under Section 6.04 or (ii) consisting of an agreement to  Dispose of any property in a Disposition permitted hereunder;  (m) Liens consisting of customary rights of set-off or banker’s liens on amounts on  deposit, to the extent arising by operation of law and incurred in the ordinary course of business;  (n) Liens securing reimbursement obligations permitted by Section 6.01 in respect of  documentary letters of credit or bankers’ acceptances; provided that such Liens attach only to the  documents, goods covered thereby and proceeds thereto;  (o) Liens on insurance policies and the proceeds thereof granted to secure the  financing of insurance premiums with respect thereto;  (p) Liens encumbering deposits made to secure obligations arising from contractual  or warranty requirements;  (q) Liens on Collateral securing obligations of any of the Loan Parties in respect of  Indebtedness and related obligations permitted by Section 6.01(x);  (r) Liens securing obligations referred to in Section 6.01(k) or on assets subject of any  Permitted Sale Leaseback under Section 6.01(v);  (s) Liens on (i) the Securitization Assets arising in connection with a Qualified  Securitization Financing or (ii) the Receivables Assets arising in connection with a Receivables  Facility;  

 

  186    3141/80492-001 CURRENT/130883173v17  #95685245v21   (t) licenses and sublicenses (with respect to Intellectual Property and other property),  and leases and subleases granted to third parties in the ordinary course of business, to the extent  they do not materially interfere with the business of the U.S. Borrower and the Restricted  Subsidiaries taken as a whole;  (u) Liens in favor of customs and revenue authorities to secure payment of customs  duties in connection with the importation of goods;  (v) Liens of bailees in the ordinary course of business;  (w) Liens securing obligations (other than obligations representing Indebtedness for  borrowed money) under operating, reciprocal easement or similar agreements entered into in the  ordinary course of business of the U.S. Borrower and its Subsidiaries;   (x) utility and similar deposits in the ordinary course of business;   (y) purchase options, calls and similar rights of, and restrictions for the benefit of, a  third party with respect to Equity Interests held by the U.S. Borrower or any Restricted Subsidiary  in Joint Ventures;  (z) [reserved];  (aa) Liens that are contractual rights of set-off (i) relating to the establishment of  depository relations with banks or other financial institutions not given in connection with the  incurrence of Indebtedness for borrowed money, (ii) relating to pooled deposit or sweep accounts  of the U.S. Borrower or any Restricted Subsidiary to permit satisfaction of overdraft or similar  obligations incurred in the ordinary course of business of the U.S. Borrower or its Restricted  Subsidiaries or (iii) relating to purchase orders and other agreements entered into by the U.S.  Borrower or any Restricted Subsidiary in the ordinary course of business;  (bb) the modification, replacement, renewal or extension of any Lien permitted by  Section 6.02(c), (d), (e) and (j); provided that (i) the Lien does not extend to any additional property  other than (A) after-acquired property that is affixed or incorporated into the property covered by  such Lien or financed by Indebtedness permitted under Section 6.01, and (B) proceeds and  products thereof; and (ii) the renewal, extension or refinancing of the obligations secured or  benefited by such Liens is not prohibited by Section 6.01;   (cc) Liens arising in connection with Intercompany License Agreements;  (dd) Liens securing any Swap Agreement so long as the fair market value of the  Collateral securing such Swap Agreement does not exceed $50,000,000 at any time;  (ee) Liens on securities which are the subject of repurchase agreements incurred in the  ordinary course of business;  (ff) [reserved];  

 

  187    3141/80492-001 CURRENT/130883173v17  #95685245v21   (gg) Liens on assets of any Restricted Subsidiary that is not a Loan Party to the extent  such Liens secure Indebtedness of such Restricted Subsidiary permitted by Section 6.01;  (hh) Liens on the Collateral that are pari passu with, or junior to, the Liens securing the  Obligations hereunder securing Additional Debt incurred pursuant to Section 6.01(z); provided  that after giving effect to the incurrence of such Additional Debt (and the Liens securing such  Additional Debt) and the application of the proceeds therefrom, (i) if such Additional Debt is  secured on a junior basis to the Liens securing the Obligations hereunder, the Total Secured Net  Leverage Ratio computed on a Pro Forma Basis shall not be greater than 3.50:1.00 and (ii) if such  Additional Debt is secured on a pari passu basis with the Liens securing the Obligations, the First  Lien Net Leverage Ratio computed on a Pro Forma Basis shall not be greater than 3.00:1.00, in  the case of clauses (i) and (ii) as of the Applicable Date of Determination (provided, however, that  in the case of a Permitted Acquisition or other Investment permitted hereunder, such applicable  ratio will be tested as of the date of the definitive agreement with respect thereto) (assuming, solely  for purposes of this clause (hh)(i) and (ii) at the time of incurrence (or, as applicable, the date of  the definitive agreement with respect thereto) and not for any other provision hereunder, (x) such  Additional Debt consisting of revolver debt is fully drawn and (y) the proceeds of such Additional  Debt are not included as unrestricted cash and Cash Equivalents in clause (i) of the definition of  “Total Secured Net Leverage Ratio” or “First Lien Net Leverage Ratio”, as applicable; provided  that to the extent the proceeds of such Additional Debt are to be used to prepay Indebtedness, the  use of such proceeds for the prepayment of such Indebtedness may be given pro forma effect) and  (ii) if the Liens are secured by Collateral, the representative for such Additional Debt shall enter  into a customary intercreditor agreement with the Collateral Agent substantially consistent with  the terms set forth on Exhibit K-1 or K-2 annexed hereto together with (A) any immaterial changes  and (B) material changes thereto in light of prevailing market conditions, which material changes  shall be posted to the Lenders and, unless the Required Lenders shall have objected in writing to  such changes within five (5) Business Days after such posting, then the Required Lenders shall be  deemed to have agreed that the Collateral Agent’s entering into such intercreditor agreement (with  such changes) is reasonable and to have consented to such intercreditor agreement (with such  changes) and to the Collateral Agent’s execution thereof, in each case in form and substance  reasonably satisfactory to the Collateral Agent (it being understood that junior Liens are not  required to be pari passu with other junior Liens, and that Indebtedness secured by junior Liens  may be secured by Liens that are pari passu with, or junior in priority to, other Liens that are junior  to the Liens securing the Obligations);  (ii) Liens on Escrowed Proceeds for the benefit of the related holders of debt securities  or other Indebtedness (or the underwriters or arrangers thereof) or on cash set aside at the time of  the incurrence of any Indebtedness or government securities purchased with such cash, in either  case to the extent such cash or government securities prefund the payment of interest on such  Indebtedness and are held in an escrow account or similar arrangement to be applied for such  purpose; and  (jj) Liens on the assets of Restricted Subsidiaries that are not Loan Parties, other than  to secure Indebtedness for borrowed money.  Section 6.03 Fundamental Changes.  

 

  188    3141/80492-001 CURRENT/130883173v17  #95685245v21   (a) The U.S. Borrower will not, nor will the U.S. Borrower permit any Restricted  Subsidiary to, merge into or consolidate or amalgamate with any other Person, or permit any other  Person to merge into or consolidate or amalgamate with it, except that so long as no Event of  Default would result therefrom: (i) any Domestic Subsidiary (other than the U.S. Borrower) may  merge into or consolidate or amalgamate with the U.S. Borrower as long as the U.S. Borrower is  the surviving entity or such surviving Person shall assume the obligations of the U.S. Borrower  hereunder (and if such Domestic Subsidiary is an Unrestricted Subsidiary, any Indebtedness of or  Lien granted on the assets of such Domestic Subsidiary is permitted by Section 6.01 or Section  6.02), (ii) any Domestic Subsidiary may merge into or consolidate or amalgamate with any  Subsidiary Loan Party (as long as (A) such Subsidiary Loan Party is the surviving entity, (B) such  surviving entity becomes a Subsidiary Loan Party substantially concurrently with the  consummation of such transaction and complies with Section 5.10 and Section 5.11 or (C) the  disposition of such Subsidiary Loan Party would otherwise be permitted under Section 6.05 (other  than Section 6.05(k)) or such Loan Party would otherwise be permitted to be to redesignated as an  Excluded Subsidiary immediately prior to such transaction (and shall be deemed to be so disposed  or redesignated), (iii) any Restricted Subsidiary that is not a Loan Party may merge into or  consolidate or amalgamate with (A) any other Restricted Subsidiary that is not a Loan Party or (B)  any Loan Party, (iv) the U.S. Borrower or any Restricted Subsidiary may consummate any  Investment permitted by Section 6.04 (other than Section 6.04(aa)) (whether through a merger,  consolidation, amalgamation or otherwise), provided that (A) the surviving entity shall be subject  to the requirements of Section 5.10 and Section 5.11 (to the extent applicable) and (B), if the U.S.  Borrower is a party to such transaction, the U.S. Borrower shall be the surviving entity or such  surviving Person shall assume the obligations of the U.S. Borrower hereunder, and (v) any  Restricted Subsidiary (other than a Borrower) may consummate any sale, transfer or other  disposition permitted pursuant to Section 6.05 (other than Section 6.05(k)) (whether through a  merger, consolidation, amalgamation or otherwise), provided that the surviving entity shall be  subject to the requirements of Section 5.10 and Section 5.11 (to the extent applicable).  In each of  the preceding clauses (i), (ii) or (v) of this Section 6.03(a), in the case of any merger, consolidation  or amalgamation involving the U.S. Borrower, if the Person surviving such merger, consolidation  or amalgamation is not the U.S. Borrower (any such Person, the “Successor Company”), the  Successor Company shall be an entity organized or existing under the Laws of the United States,  any state thereof, the District of Columbia or any territory thereof, (B) the Successor Company  shall expressly assume all of the obligations of the U.S. Borrower under this Agreement and the  other Loan Documents to which the U.S. Borrower is a party, (C) each Subsidiary Loan Party,  unless it is the other party to such merger, consolidation or amalgamation, shall have confirmed  that its Guarantee shall apply to the Successor Company’s obligations under the Loan Documents,  (D) each Subsidiary Loan Party, unless it is the other party to such merger, consolidation or  amalgamation, shall have by a supplement to the applicable Security Documents confirmed that  its obligations thereunder shall apply to the Successor Company’s obligations under the Loan  Documents, and (E) the Successor Company shall have delivered to the Administrative Agents an  officer’s certificate stating that such merger or consolidation and such supplements preserve the  enforceability of the Guarantee and the perfection and priority of the Liens under the applicable  Security Documents; provided, that if the foregoing are satisfied, the Successor Company will  succeed to, and be substituted for, the U.S. Borrower under this Agreement.  

 

  189    3141/80492-001 CURRENT/130883173v17  #95685245v21   (b) The U.S. Borrower will not, nor will the U.S. Borrower permit any Restricted  Subsidiary to, liquidate or dissolve, except that: (i) any Subsidiary (other than a Borrower) may  transfer all or any portion of its assets (upon liquidation, dissolution, winding-up or any similar  transaction) to the U.S. Borrower or any Subsidiary Loan Party, (ii) any Restricted Subsidiary that  is not a Loan Party may transfer all or any portion of its assets (upon liquidation, dissolution,  winding-up or any similar transaction) to the U.S. Borrower or any other Restricted Subsidiary,  (iii) any Loan Party (other than a Borrower) may transfer all or any portion of its assets (upon  liquidation, dissolution, winding-up or any similar transaction) to the U.S. Borrower or any other  Subsidiary Loan Party, (iv) the U.S. Borrower or any Restricted Subsidiary may change its legal  form, (v) [reserved] and (vi) any Restricted Subsidiary (other than a Borrower) may transfer all or  any portion of its assets (upon liquidation, dissolution, winding-up or any similar transaction) to  any Person in order to effect an Investment permitted pursuant to Section 6.04 (other than Section  6.04(aa)) or a sale, transfer or other disposition permitted pursuant to Section 6.05 (other than  Section 6.05(k)).   Section 6.04 Investments.  The U.S. Borrower will not, nor will the U.S.  Borrower permit any Restricted Subsidiary to, make any Investments, except:   (a) Investments in cash and Cash Equivalents and assets that were Cash Equivalents  when such Investment was made;  (b) Permitted Acquisitions;  (c) (i) Investments existing on the Restatement Date and (ii) Investments consisting  of any modification, replacement, renewal, reinvestment or extension of any such Investment;  provided that the amount of any Investment permitted pursuant to this Section 6.04(c) is not  increased from the original amount of such Investment on the Restatement Date (determined  without reducing such amount to reflect to any Return received on such Investment from and after  the Restatement Date) except pursuant to the terms of such Investment (including in respect of any  unused commitment), plus any accrued but unpaid interest thereon (including any portion thereof  which is payable in kind in accordance with the terms of such modified, extended, renewed or  replaced Investment) and premium payable by the terms of such Investment and fees and expenses  associated therewith as of the Restatement Date or as otherwise permitted by this Section 6.04;  (d) Investments (i) between and among any of the Restricted Subsidiaries that are not  Loan Parties, (ii) between and among any of the Loan Parties and (iii) by any Loan Party in any  Restricted Subsidiary that is not a Loan Party; provided that in the case of this clause (iii) such  Investments made after the Restatement Date shall not exceed the greater of (x) $260,000,000 and  (y) 25.0% of LTM EBITDA computed on a Pro Forma Basis as of the Applicable Date of  Determination (it being understood that for purposes of calculating amounts outstanding pursuant  to this clause (d)(iii), such amount shall be calculated on a net basis (without duplication of the  reduction of the amount of any such Investment in respect of Returns on such Investment pursuant  to the definition of “Investment”) giving effect to all Investments (I) in the Loan Parties by and  Returns to the Loan Parties from Restricted Subsidiaries that are not Loan Parties and (II) in the  Loan Parties by Joint Ventures and Unrestricted Subsidiaries); provided, further, that to the extent  that any such Investments under this clause (d) constitute loans or advances made to any Loan  Party, such loans or advances shall be subordinated in right of payment to the Obligations upon  

 

  190    3141/80492-001 CURRENT/130883173v17  #95685245v21   the occurrence of an Event of Default pursuant to Section 7.01(h) or (i) or upon the acceleration  of the Obligations pursuant to Section 7.01 after the occurrence of any other Event of Default;  (e) Investments made by the U.S. Borrower or any Restricted Subsidiary in any Joint  Venture or any Unrestricted Subsidiary in an aggregate amount of such Investments made after  the Restatement Date pursuant to this clause (e) by (x) Loan Parties and Restricted Subsidiaries in  Joint Ventures and (y) the U.S. Borrower and its Restricted Subsidiaries in Unrestricted  Subsidiaries shall not exceed the greater of (A) $260,000,000 and (B) 25.0% of LTM EBITDA as  of the Applicable Date of Determination after giving effect thereto computed on a Pro Forma Basis  to each proposed Investment (it being understood that for purposes of calculating amounts  outstanding pursuant to this clause (e), such amount shall be calculated on a net basis (without  duplication of the reduction of the amount of any such Investment in respect of Returns on such  Investment pursuant to the definition of “Investment”) giving effect to all Investments (I) in the  Loan Parties by and Returns to the Loan Parties from Restricted Subsidiaries that are not Loan  Parties and (II) in the Loan Parties by Joint Ventures and Unrestricted Subsidiaries);  (f) Investments made by any Restricted Subsidiary that is not a Loan Party in the U.S.  Borrower or any Restricted Subsidiary; provided that to the extent that any such Investments  constitute loans or advances made to any Loan Party, such loans or advances shall be subordinated  in right of payment to the Obligations upon the occurrence of an Event of Default pursuant to  Section 7.01(h) or (i) or upon the acceleration of the Obligations pursuant to Section 7.01 after the  occurrence of any other Event of Default;  (g) (A) non-cash loans or advances to employees, partners, officers and directors of  the U.S. Borrower or any Subsidiary in connection with such Person’s purchase of Equity Interests  of the U.S. Borrower and (B) promissory notes received from stockholders of the U.S. Borrower  or any Subsidiary in connection with the exercise of stock options in respect of the Equity Interests  of the U.S. Borrower and the Subsidiaries;  (h) Investments received in connection with the bankruptcy or reorganization of, or  settlement of delinquent accounts and disputes with, customers and suppliers, or upon the  foreclosure with respect to any secured Investment or other transfer of title with respect to any  secured Investment;  (i) Investments in respect of Swap Agreements, Cash Management Agreements and  Cash Management Services not entered into for speculative purposes;  (j) Investments of any Person existing at the time such Person becomes a Restricted  Subsidiary or consolidates, amalgamates or merges with the U.S. Borrower or any Restricted  Subsidiary (including in connection with an Acquisition or other Investment permitted hereunder);  provided that such Investment was not made in contemplation of such Person becoming a  Restricted Subsidiary or such consolidation or merger;  (k) Investments resulting from pledges or deposits described in clause (c) or (d) of the  definition of the term “Permitted Encumbrance”;  

 

  191    3141/80492-001 CURRENT/130883173v17  #95685245v21   (l) Investments received in connection with the disposition of any asset in accordance  with and to the extent permitted by Section 6.05 (other than Section 6.05(d));  (m) receivables or other trade payables owing to the U.S. Borrower or any Restricted  Subsidiary if created or acquired in the ordinary course of business and payable or dischargeable  in accordance with customary trade terms, provided that such trade terms may include such  concessionary trade terms as the U.S. Borrower or such Restricted Subsidiary deems reasonable  under the circumstances;  (n) Investments resulting from Liens permitted under Section 6.02;  (o) Investments in deposit accounts and securities accounts opened in the ordinary  course of business;  (p) Investments in connection with Intercompany License Agreements;  (q) other Investments (including those of the type otherwise described herein) made  after the Restatement Date in an aggregate amount at any time outstanding not to exceed the greater  of (x) $260,000,000 and (y) 25.0% of LTM EBITDA as of the Applicable Date of Determination  after giving effect thereto computed on a Pro Forma Basis to each such proposed Investment  pursuant to this clause (q);  (r) Investments consisting of cash earnest money deposits in connection with a  Permitted Acquisition or other Investment permitted hereunder;  (s) Investments solely to the extent such Investments reflect an increase in the value  of Investments otherwise permitted under this Section 6.04;  (t) the acquisition of additional Equity Interests of Restricted Subsidiaries from  minority shareholders (it being understood that to the extent that any Restricted Subsidiary that is  not a Loan Party is acquiring Equity Interests from minority shareholders then this clause (t) shall  not in and of itself create, or increase the capacity under, any basket for Investments by Loan  Parties in any Restricted Subsidiary that is not a Loan Party);  (u) Investments consisting of endorsements for collection or deposit in the ordinary  course of business;  (v) (a) Investments in any Receivables Facility or any Securitization Subsidiary in  order to effectuate a Qualified Securitization Financing, including the ownership of Equity  Interests in such Securitization Subsidiary and (b) distributions or payments of Securitization Fees  and purchases of Securitization Assets or Receivables Assets pursuant to a Securitization  Repurchase Obligation in connection with a Qualified Securitization Financing or a Receivables  Facility;  (w) Investments in Equity Interests in any Subsidiary resulting from any sale, transfer  or other disposition by the U.S. Borrower or any Subsidiary permitted by Section 6.05, including  as a result of any contribution from any parent or distribution to any Subsidiary of such Equity  Interests;  

 

  192    3141/80492-001 CURRENT/130883173v17  #95685245v21   (x) contributions to a “rabbi” trust for the benefit of employees or other grantor trust  subject to claims of creditors in the case of a bankruptcy of the U.S. Borrower;   (y) loans or advances to officers, partners, directors, consultants and employees of the  U.S. Borrower or any Restricted Subsidiary for (A) relocation, entertainment, travel expenses,  drawing accounts and similar expenditures and (B) for other purposes in the aggregate amount not  to exceed $50,000,000 at any time outstanding;  (z) other Investments (including those of the type otherwise referred to herein) in an  aggregate amount not to exceed the Available Amount so long no Event of Default has occurred  and is continuing or would result from the making of such Investment;  (aa) Investments consisting of or resulting from Indebtedness, Liens, fundamental  changes and dispositions permitted under Section 6.01 (other than Section 6.01(b) and (c), Section  6.02, Section 6.03 (other than Section 6.03(a)(iv) and (b)(vi)), Section 6.05 (other than Section  6.05(b)) and Section 6.06 (other than Section 6.06(a)(viii)), respectively;  (bb) Loans repurchased by the U.S. Borrower or a Restricted Subsidiary pursuant to  and in accordance with Section 2.11(i) or Section 9.04, so long as such Loans are immediately  cancelled;  (cc) cash or property distributed from any Restricted Subsidiary that is not a Loan Party  (i) may be contributed to other Restricted Subsidiaries that are not Loan Parties, and (ii) may pass  through the U.S. Borrower and/or any intermediate Restricted Subsidiaries, so long as part of a  series of related transactions and such transaction steps are not unreasonably delayed and are  otherwise permitted hereunder;  (dd) Investments to the extent that payment for such Investments is made solely with  Equity Interests (other than Disqualified Equity Interests) of the U.S. Borrower;  (ee) Guarantee obligations of the U.S. Borrower or any Restricted Subsidiary in respect  of letters of support, guarantees or similar obligations issued, made or incurred for the benefit of  any Restricted Subsidiary of the U.S. Borrower to the extent required by law or in connection with  any statutory filing or the delivery of audit opinions performed in jurisdictions other than within  the United States;   (ff) [reserved];  (gg) asset purchases (including purchases of inventory, supplies and materials) in the  ordinary course of business;  (hh) performance Guarantees of the U.S. Borrower and its Restricted Subsidiaries  primarily guaranteeing performance of contractual obligations of the U.S. Borrower or Restricted  Subsidiaries to a third party and not primarily for the purposes of guaranteeing payment of  Indebtedness;  (ii)  so long as, at the time of execution of a binding agreement in respect of any such  Investment, no Event of Default has occurred and is continuing or would result therefrom,  

 

  193    3141/80492-001 CURRENT/130883173v17  #95685245v21   Investments in an unlimited amount so long as the Total Net Leverage Ratio calculated on a Pro  Forma Basis is less than or equal to 3.50:1.00; and  (jj) Guarantees by the U.S. Borrower or any Restricted Subsidiary of leases (other than  Capital Lease Obligations), contracts, or other obligations that do not constitute Indebtedness, in  each case entered into in the ordinary course of business.  For the avoidance of doubt, if an Investment would be permitted under any  provision of this Section 6.04 (other than Section 6.04(b)) and as a Permitted Acquisition, such  Investment need not satisfy the requirements otherwise applicable to Permitted Acquisitions unless  such Investments are consummated in reliance on Section 6.04(b). In addition, to the extent an  Investment is permitted to be made by a Restricted Subsidiary directly in any Restricted Subsidiary  or any other Person who is not a Loan Party (each such Person, a “Target Person”) under any  provision of this Section 6.04, such Investment may be made by advance, contribution or  distribution directly or indirectly to the U.S. Borrower and further advanced or contributed by the  U.S. Borrower to a Loan Party or other Restricted Subsidiary for purposes of ultimately making  the relevant Investment in the Target Person without constituting an Investment for purposes of  Section 6.04 (it being understood that such Investment must satisfy the requirements of, and shall  count toward any thresholds or baskets in, the applicable clause under Section 6.04 as if made by  the applicable  Restricted Subsidiary directly to the Target Person).  Notwithstanding anything herein to the contrary, neither the U.S. Borrower nor any  Restricted Subsidiary may sell, transfer, assign or dispose of Material Intellectual Property (it  being understood that all Material Intellectual Property held by Symbol Technologies, LLC on the  Amendment No. 3 Effective Date is deemed to not have been sold, transferred, assigned or  disposed of pursuant to the foregoing clause) to any Unrestricted Subsidiary or any non-Loan Party  Restricted Subsidiary.  Section 6.05 Asset Sales.  The U.S. Borrower will not, nor will the U.S.  Borrower permit any Restricted Subsidiary to, sell, transfer, lease or otherwise dispose of any  asset, including any Equity Interests owned by it nor will the U.S. Borrower permit any  Restricted Subsidiary to issue any additional Equity Interests in such Restricted Subsidiary (other  than any Restricted Subsidiary issuing directors’ qualifying shares), except:  (a) sales, transfers, leases and other Dispositions of (i) inventory or services or  immaterial assets in the ordinary course of business, (ii) obsolete, non-core, worn-out,  uneconomic, damaged or surplus property or property that is no longer economically practical or  commercially desirable to maintain or used or useful in its business, whether now or hereafter  owned or leased or acquired in connection with an Acquisition or other permitted Investments,  (iii) cash, Cash Equivalents and other investment securities in the ordinary course of business, and  (iv) accounts in the ordinary course of business for purposes of collection;  (b) sales, transfers, leases and other Dispositions to the U.S. Borrower or any  Subsidiary (including by contribution, Disposition, dividend or otherwise); provided that if the  transferor of such property is a Loan Party, then (x) the transferee thereof must be a Loan Party or  (y) to the extent constituting a Disposition to a Restricted Subsidiary that is not a Loan Party, such  Disposition (1) is in the ordinary course of business, (2) is for fair value and any promissory note  

 

  194    3141/80492-001 CURRENT/130883173v17  #95685245v21   or other non-cash consideration received in respect thereof is a permitted Investment in a Restricted  Subsidiary that is not a Loan Party in accordance with Section 6.04 or (3) to the extent constituting  an Investment, such Investment must be a permitted Investment in a Restricted Subsidiary that is  not a Loan Party in accordance with Section 6.04;  (c) sales, transfers and other Dispositions of accounts receivable (including write-offs,  discounts and compromises) in connection with the compromise, settlement or collection thereof;  (d) sales, transfers, leases and other Dispositions of property to the extent that such  property constitutes an Investment permitted by Section 6.04 (other than Section 6.04(l) and (aa))  or another asset received as consideration for the Disposition of any asset permitted by this Section  (in each case, other than Equity Interests in a Restricted Subsidiary, unless all Equity Interests in  such Restricted Subsidiary are sold);  (e) leases or licenses or subleases or sublicenses entered into in the ordinary course of  business, to the extent that they do not materially interfere with the business of the U.S. Borrower  and the Restricted Subsidiaries taken as a whole;  (f) conveyances, sales, transfers, licenses or sublicenses or other Dispositions of  Software or other Intellectual Property in the ordinary course of business (i) that is, in the  reasonable good faith judgment of the U.S. Borrower, immaterial to the business of the U.S.  Borrower or any Restricted Subsidiary, or no longer economically practicable or commercially  desirable to maintain or used or useful in the business of the U.S. Borrower and the Restricted  Subsidiaries or (ii) pursuant to a research or development agreement entered into in the ordinary  course of business in which the counterparty to such agreement receives a license to Software or  other Intellectual Property that results from such agreement, in each case, to the extent that such  conveyance, sale, transfer, license, sublicense or other Disposition does not materially interfere  with the businesses of the U.S. Borrower or any Restricted Subsidiary taken as a whole;  (g) Dispositions resulting from any casualty or insured damage to, or any taking under  power of eminent domain or by condemnation or similar proceeding of, any property or asset of  the U.S. Borrower or any Restricted Subsidiary;  (h) the abandonment or lapse of Intellectual Property, whether now or hereafter owned  or leased or acquired in connection with an Acquisition or other permitted Investment, or  expiration of Intellectual Property in accordance with its statutory term;  (i) the Disposition of any assets existing on the Restatement Date that are set forth on  Schedule 6.05;  (j) sales, transfers and other Dispositions by the U.S. Borrower or any Restricted  Subsidiary of assets since the Restatement Date so long as (A) such Disposition is for fair market  value (as determined in good faith by the U.S. Borrower or such Restricted Subsidiary), (B) if at  the time of execution of a binding agreement in respect of such sale, transfer or other Disposition,  no Event of Default has occurred and is continuing or would result therefrom, (C) if the assets  sold, transferred or otherwise Disposed of have a fair market value in excess of $75,000,000, at  least 75% of the consideration (other than (A) the assumption by the transferee of Indebtedness or  

 

  195    3141/80492-001 CURRENT/130883173v17  #95685245v21   other liabilities contingent or otherwise of the U.S. Borrower or any of its Restricted Subsidiaries  and the valid release of the U.S. Borrower or such Restricted Subsidiary, by all applicable creditors  in writing, from all liability on such Indebtedness or other liability in connection with such  Disposition, (B) securities, notes or other obligations received by the U.S. Borrower or any of its  Restricted Subsidiaries from the transferee that are converted by the U.S. Borrower or any of its  Restricted Subsidiaries into cash or Cash Equivalents within 180 days following the closing of  such Disposition, (C) Indebtedness of any Restricted Subsidiary that is no longer a Restricted  Subsidiary as a result of such Disposition, to the extent that the U.S. Borrower and each other  Restricted Subsidiary are released from any Guarantee of payment of such Indebtedness in  connection with such Disposition, (D) consideration consisting of Indebtedness of the U.S.  Borrower (other than Subordinated Indebtedness) received after the Restatement Date from  Persons who are not the U.S. Borrower or any Restricted Subsidiary and (E) in connection with an  asset swap, all of which shall be deemed “cash”) received is cash or Cash Equivalents or  Designated Non-Cash Consideration to the extent that all Designated Non-Cash Consideration at  such time does not exceed the greater of (x) $100,000,000 and (y) 15% of LTM EBITDA (with  the fair market value of each item of Designated Non-Cash Consideration being measured at the  time received and without giving effect to subsequent changes in value) and all of the consideration  received is at least equal to the fair market value of the assets sold, transferred or otherwise  Disposed of and (D) the Net Proceeds thereof shall be subject to Section 2.11(c);  (k) sales, transfers and other Dispositions permitted by Section 6.03 (other than  Section 6.03(a)(iv) or 6.03(b)(vi));  (l) the incurrence of Liens permitted hereunder;  (m) [reserved];  (n) sales or Dispositions of Equity Interests of any Subsidiary (other than a Borrower)  in order to qualify members of the Governing Body of such Subsidiary if required by applicable  law;  (o) samples, including time-limited evaluation software, provided to customers or  prospective customers;  (p) de minimis amounts of equipment provided to employees;  (q) sales, transfers and other Dispositions of (i) any Equity Interests in Unrestricted  Subsidiaries or their assets or (ii) other Excluded Property, provided that for the purposes of clause  (ii), (A) the Total Secured Net Leverage Ratio as of the Applicable Date of Determination after  giving effect on a Pro Forma Basis to such Disposition, shall be no greater than 3.00:1.00 or (B) the  fair market value of such Dispositions that do not meet the requirements of subclause (A) shall not  exceed $100,000,000 in the aggregate;   (r) Restricted Payments made pursuant to Section 6.06;  (s) Permitted Sale Leasebacks in an aggregate principal amount not to exceed  $100,000,000 at any time;  

 

  196    3141/80492-001 CURRENT/130883173v17  #95685245v21   (t) the unwinding of any Cash Management Agreement or Swap Agreement pursuant  to its terms;  (u) sales, transfers or other Dispositions of Investments in Joint Ventures or any  Subsidiary that is not a wholly-owned Restricted Subsidiary to the extent required by, or made  pursuant to customary buy/sell arrangements between, the parties set forth in Joint Venture  arrangements and similar binding agreements;   (v) the U.S. Borrower and any Restricted Subsidiary may (i) terminate or otherwise  collapse its cost sharing agreements with the U.S. Borrower or any Subsidiary and settle any  crossing payments in connection therewith, (ii) convert any intercompany Indebtedness to Equity  Interests, (iii) transfer any intercompany Indebtedness to the U.S. Borrower or any Restricted  Subsidiary, (iv) settle, discount, write off, forgive or cancel any intercompany Indebtedness or  other obligation owing by any Loan Party, (v) settle, discount, write off, forgive or cancel any  Indebtedness owing by any present or former consultants, directors, officers or employees of the  U.S. Borrower or any Subsidiary or any of their successors or assigns or (vi) surrender or waive  contractual rights and settle or waive contractual or litigation claims;   (w) any Disposition of Securitization Assets or Receivables Assets, or participations  therein, in connection with any Qualified Securitization Financing or Receivables Facility, or the  Disposition of an account receivable in connection with the collection or compromise thereof in  the ordinary course of business or consistent with past practice;   (x) conveyances, sales, transfers, leases, licenses, sublicenses or other Dispositions  pursuant to Intercompany License Agreements;  (y) other Dispositions (including those of the type otherwise described herein) made  after the Restatement Date in an aggregate amount not to exceed $75,000,000; and  (z) any swap of assets in exchange for (or sale of assets, the purpose of which is to  acquire (and which results within 365 days of such sale in the acquisition of)) services or other  assets in the ordinary course of business of comparable or greater fair market value or usefulness  to the business of the U.S. Borrower and its Restricted Subsidiaries as a whole, as determined in  good faith by the U.S. Borrower.  Notwithstanding anything herein to the contrary, neither the U.S. Borrower nor any  Restricted Subsidiary may sell, transfer, assign or dispose of Material Intellectual Property (it  being understood that all Material Intellectual Property held by Symbol Technologies, LLC on the  Amendment No. 3 Effective Date is deemed to not have been sold, transferred, assigned or  disposed of pursuant to the foregoing clause) to any Unrestricted Subsidiary or any non-Loan Party  Restricted Subsidiary.  Section 6.06 Restricted Payments; Certain Payments of Indebtedness.    (a) The U.S. Borrower will not, nor will the U.S. Borrower permit any Restricted  Subsidiary to, declare or make any Restricted Payment, except that:  

 

  197    3141/80492-001 CURRENT/130883173v17  #95685245v21   (i) (A) the Restricted Subsidiaries may declare and make Restricted  Payments ratably with respect to their Equity Interests and (B) any Restricted  Subsidiary may make a Restricted Payment to the U.S. Borrower or any other  Restricted Subsidiary (so long as, in the case of this clause (B), if the Restricted  Subsidiary making the Restricted Payment is not wholly owned (directly or  indirectly) by the U.S. Borrower, such Restricted Payment is made ratably  among the holders of its Equity Interests);  (ii) the U.S. Borrower and the Restricted Subsidiaries may declare and  make Restricted Payments with respect to its Equity Interests payable solely in  shares of Qualified Equity Interests (so long as, in the case of this clause (ii), if  the Restricted Subsidiary making the Restricted Payment is not wholly owned  (directly or indirectly) by the U.S. Borrower, such Restricted Payment is made  ratably among the holders of its Equity Interests);  (iii)the Restricted Subsidiaries may make a Restricted Payment in  connection with the acquisition of additional Equity Interests in any Restricted  Subsidiary from minority shareholders;  (iv) the U.S. Borrower or any Restricted Subsidiary may make  repurchases of Equity Interests deemed to occur upon the cashless exercise of  stock options when such Equity Interests represents a portion of the exercise  price thereof;  (v) the Restricted Subsidiaries may make Restricted Payments to allow  the U.S. Borrower or any Restricted Subsidiary to purchase the U.S. Borrower’s  preferred stock, common stock, restricted stock or common stock options from  present or former consultants, directors, managers, officers or employees of the  U.S. Borrower or any Subsidiary, or their estates, descendants, family, spouses  or former spouses, upon the death, disability or termination of employment of  such consultant, director, manager, officer or employee or pursuant to any  employee, management, director or manager equity plan, employee,  management, director or manager stock option plan or any other employee,  management, director or manager benefit plan or any agreement (including any  stock subscription or shareholder agreement) with any employee, director,  manager, officer or consultant of the U.S. Borrower or any Subsidiary, provided  that the aggregate amount of payments under this clause (v) subsequent to the  Restatement Date (net of proceeds received by such the U.S. Borrower  subsequent to the Restatement Date in connection with resales of any stock or  common stock options so purchased (which to the extent that such cash  proceeds from the issuance of any such stock are utilized to make payments  pursuant to this clause (v) in excess of the amounts otherwise permitted  hereunder then such equity proceeds so utilized shall not also increase the  Available Amount)) shall not exceed $25,000,000 (with unused amounts in any  fiscal year being carried over to the next succeeding fiscal year subject to a  maximum of $50,000,000 in any fiscal year) per fiscal year, plus the amount of  any key-man life insurance policies; provided that the cancellation of  

 

  198    3141/80492-001 CURRENT/130883173v17  #95685245v21   Indebtedness owing to the U.S. Borrower or any of its Subsidiaries by any  consultant, director, manager, officer or employee in connection with a  repurchase of any such Equity Interests and the redemption or cancellation of  such Equity Interests without cash payment will not be deemed to constitute a  Restricted Payment for purposes of this covenant or any other provision of this  Agreement;  (vi) the U.S. Borrower and its Restricted Subsidiaries may make  Restricted Payments pursuant to the Intercompany License Agreements;  (vii) the U.S. Borrower and its Restricted Subsidiaries may make  Restricted Payments (i) in respect of working capital adjustments or purchase  price adjustments pursuant to any Permitted Acquisition or other permitted  Investments (other than pursuant to Section 6.04(aa)), (ii) to satisfy indemnity  and other similar obligations in connection with Permitted Acquisitions or other  permitted Investments, and (iii) to holders of restricted stock or restricted stock  units under any equity plan and phantom stock awards (including market- leveraged stock units (or similar equity grants));  (viii) the U.S. Borrower and its Restricted Subsidiaries may make  Restricted Payments necessary to consummate transactions permitted pursuant  to Section 6.03 and to make Investments permitted pursuant to Section 6.04  (other than pursuant to Section 6.04(aa));  (ix) the U.S. Borrower and the Restricted Subsidiaries may forgive or  cancel any Indebtedness owed to the U.S. Borrower or any Restricted  Subsidiary issued for repurchases of the U.S. Borrower’s Equity Interests;  (x) the U.S. Borrower or any Restricted Subsidiary may make  additional Restricted Payments provided that (a) no Event of Default has  occurred and is continuing or would result therefrom and (b) the Total Net  Leverage Ratio after giving effect thereto on a Pro Forma Basis as of the  Applicable Date of Determination is less than or equal to 3.25:1.00;  (xi) distributions or payments of Securitization Fees, sales, contributions  and other transfers of Securitization Assets or Receivables Assets and purchases  of Securitization Assets or Receivables Assets pursuant to Securitization  Repurchase Obligations, in each case in connection with a Qualified  Securitization Financing or a Receivables Facility;  (xii) the Restricted Subsidiaries may make Restricted Payments  to the U.S. Borrower the proceeds of which shall be used to pay customary  costs, fees and expenses related to any unsuccessful equity or debt offering  permitted by this Agreement;  (xiii) the Restricted Subsidiaries may make Restricted Payments  to the U.S. Borrower to (a) pay cash in lieu of fractional Equity Interests in  

 

  199    3141/80492-001 CURRENT/130883173v17  #95685245v21   connection with any dividend, split or combination thereof or any Acquisition,  Investment or other transaction otherwise permitted hereunder and (b) honor  any conversion request by a holder of convertible Indebtedness (to the extent  such conversion request is paid solely in shares of Qualified Equity Interests of  the U.S. Borrower) and make cash payments in lieu of fractional shares in  connection with any such conversion and may make payments on convertible  Indebtedness in accordance with its terms; and  (xiv) the U.S. Borrower and the Restricted Subsidiaries may make  Restricted Payments in an aggregate amount not to exceed (A) the greater of  $260,000,000 and 20.0% LTM EBITDA computed on a Pro Forma Basis as of  the Applicable Date of Determination (in either case, less any amounts applied  pursuant to Section 6.06(b)(vi)(A)) plus (B) the Available Amount; provided  however that (a) at the time of making such Restricted Payment, no Event of  Default has occurred and is continuing or would result therefrom and  (b) amounts pursuant to clause (b) of the definition of “Available Amount” may  be used to fund Restricted Payment pursuant to this clause (xiv) only to the  extent that the Total Secured Net Leverage Ratio on a Pro Forma Basis after  giving effect thereto as of the Applicable Date of Determination is less than or  equal to 3.25:1.00.  (b) The U.S. Borrower will not, nor will the U.S. Borrower permit any Restricted  Subsidiary to, make any voluntary payment or other distribution (whether in cash, securities or  other property), of or in respect of principal or interest, or such payment by way of the purchase,  redemption, retirement, acquisition, cancellation or termination, in each case prior to the final  scheduled maturity thereof, of any Material Indebtedness that is contractually subordinated in right  of payment to any of the Obligations (it being understood that Indebtedness shall not be deemed  to be subordinated in right of payment to the Obligations merely because such Indebtedness is  secured by a Lien that is junior to the Liens securing the applicable portion of the Obligations)  except:  (i) payment of regularly scheduled interest and principal payments (and  fees, indemnities and expenses payable) as, and when due in respect of any such  Indebtedness to the extent permitted by any subordination or intercreditor  provisions in respect thereof;  (ii) Permitted Refinancings of any such Indebtedness to the extent such  Permitted Refinancings are permitted by Section 6.01;  (iii)payments of intercompany Indebtedness permitted under Section  6.01 to the extent permitted by any subordination provisions in respect thereof;   (iv) convert, exchange, redeem, repay or prepay such Indebtedness into  or for Equity Interests of the U.S. Borrower (other than Disqualified Equity  Interests of the U.S. Borrower, except to the extent permitted under Section  6.01(y));  

 

  200    3141/80492-001 CURRENT/130883173v17  #95685245v21   (v) AHYDO Catch-Up Payments relating to Indebtedness of the U.S.  Borrower and its Restricted Subsidiaries so long as no Event of Default under  Section 7.01(a), (b), (h) or (i) has occurred and is continuing;   (vi) any such payments or other distributions in an amount not to exceed  (A) the greater of $260,000,000 and 20.0% LTM EBITDA computed on a Pro  Forma Basis as of the Applicable Date of Determination (in either case, less  any amounts applied pursuant to Section 6.06(a)(xiv)(A)) plus (B) the  Available Amount; provided however that in the case of payments or  distributions made pursuant to this clause (vi) (I) at the time of making such  payment or distribution, no Event of Default has occurred and is continuing or  would result therefrom and (II) amounts pursuant to clause (b) of the definition  of “Available Amount” may be used to make payments pursuant to this clause  (vi) only to the extent that the Total Secured Net Leverage Ratio on a Pro Forma  Basis after giving effect thereto as of the Applicable Date of Determination is  less than or equal to 3.25:1.00;  (vii) payments or distributions made with net proceeds received  by the U.S. Borrower after the Restatement Date from the issuance or sale of  Qualified Equity Interests of the U.S. Borrower (which such equity proceeds so  utilized shall not also increase the Available Amount);   (viii) the payment, redemption, repurchase, retirement,  termination or cancellation of Indebtedness within sixty (60) days of the date of  the Redemption Notice if, at the date of any payment, redemption, repurchase,  retirement, termination or cancellation notice in respect thereof (the  “Redemption Notice”), such payment, redemption, repurchase, retirement  termination or cancellation would have complied with another provision of this  Section 6.06(b); provided that such payment, redemption, repurchase,  retirement, termination or cancellation shall reduce capacity under such other  provision; and  (ix) any additional payments or distribution in an amount provided that  (a) no Event of Default has occurred and is continuing or would result therefrom  and (b) the Total Net Leverage Ratio after giving effect thereto on a Pro Forma  Basis as of the Applicable Date of Determination is less than or equal to  3.25:1.00.  Section 6.07 [Reserved].    Section 6.08 Restrictive Agreements.  The U.S. Borrower will not, nor will the  U.S. Borrower permit any Restricted Subsidiary to, enter into any agreement, instrument, deed  or lease that prohibits, restricts or imposes any condition upon (a) the ability of any Loan Party  to create, incur or permit to exist any Lien in favor of the Secured Parties (excluding Lender  Counterparties) upon any of its Collateral or (b) the ability of any Restricted Subsidiary to make  Restricted Payments or to make or repay loans or advances to the U.S. Borrower or any  Restricted Subsidiary, provided that the foregoing shall not apply to (i) restrictions and  

 

  201    3141/80492-001 CURRENT/130883173v17  #95685245v21   conditions imposed by (A) law, (B) any Loan Document, any agreements evidencing secured  Indebtedness permitted by this Agreement or any documents governing the Term Loan Exchange  Notes, the Additional Term Notes, the Unrestricted Additional Term Notes, the Credit  Agreement Refinancing Indebtedness, the Refinancing Notes, the Senior Notes, any Additional  Debt and any documentation providing for any Permitted Refinancing thereof or (C) other  agreements evidencing Indebtedness permitted by Section 6.01, provided that in each case under  this clause (i) such restrictions or conditions (x) apply solely to a Restricted Subsidiary that is  not a Loan Party, (y) are no more restrictive than the restrictions or conditions set forth in the  Loan Documents, or (z) do not materially impair any Borrower’s ability to pay its obligations  under the Loan Documents as and when due (as determined in good faith by the U.S. Borrower);  (ii) restrictions and conditions existing on the Restatement Date or on any extension, renewal,  amendment, modification or replacement thereof, except to the extent any such amendment,  modification or replacement materially expands the scope of any such restriction or condition  (as determined in good faith by the U.S. Borrower); (iii) restrictions and conditions contained in  agreements relating to the sale of Equity Interests of a Subsidiary or a Joint Venture or of any  assets of the U.S. Borrower, a Subsidiary or a Joint Venture, in each case pending such sale,  provided that such restrictions and conditions apply only to the Subsidiary or assets that is or are  to be sold and such sale is permitted hereunder; (iv) the foregoing shall not apply to customary  provisions in leases, licenses and other contracts restricting the assignment, subletting or transfer  thereof or other assets subject thereto; (v)(A) any restrictions with respect to a Subsidiary  imposed pursuant to an agreement that has been entered into in connection with the sale, transfer  or other disposition of all or substantially all of the Equity Interests or assets of such Subsidiary  or (B) restrictions on transfers of assets subject to Liens permitted by Section 6.02 (but, with  respect to any such Lien, only to the extent that such transfer restrictions apply solely to the  assets that are the subject of such Lien); (vi) restrictions created in connection with any Qualified  Securitization Financing; (vii) restrictions or conditions set forth in any agreement in effect at  any time any Person becomes a Restricted Subsidiary, provided that such agreement was not  entered into in contemplation of such Person becoming a Restricted Subsidiary and the  restriction or condition set forth in such agreement does not apply to the U.S. Borrower or any  other Restricted Subsidiary; (viii) customary provisions in shareholders agreements, joint  venture agreements, organizational or constitutive documents or similar binding agreements  relating to any Joint Venture or non-wholly-owned Restricted Subsidiary and other similar  agreements applicable to Joint Ventures and non-wholly-owned Restricted Subsidiaries and  applicable solely to such Joint Venture or non-wholly-owned Restricted Subsidiary and the  Equity Interests issued thereby; (ix) any restrictions on cash or other deposits imposed by  agreements entered into in the ordinary course of business; (x) any restrictions regarding  licensing or sublicensing by the U.S. Borrower and its Restricted Subsidiaries of Intellectual  Property in the ordinary course of business to the extent not materially interfering with the  business of the U.S. Borrower or the Restricted Subsidiaries taken as a whole; (xi) any  restrictions that arise in connection with cash or other deposits permitted under Section 6.02 and  Section 6.04; (xii) any restrictions on cash or other deposits or net worth imposed by customers  under contracts entered into in the ordinary course of business; and (xiii) any restrictions  imposed by any agreement governing Indebtedness entered into on or after the Restatement Date  and permitted under Section 6.01 if the restrictions contained in any such agreement taken as a  whole (a) are not materially less favorable to the Secured Parties than the encumbrances and  restrictions contained in the Loan Documents (as determined by the U.S. Borrower) or (b) either  

 

  202    3141/80492-001 CURRENT/130883173v17  #95685245v21   (I) the U.S. Borrower determines at the time of entry into such agreement or instrument that such  encumbrances or restrictions will not adversely affect, in any material respect, the Borrowers’  ability to make principal or interest payments required hereunder or (II) such encumbrance or  restriction applies only during the continuance of a default relating to such agreement or  instrument.  Section 6.09 Amendment of Material Documents.  The U.S. Borrower will not,  nor will the U.S. Borrower permit any Subsidiary Loan Party to, amend or otherwise modify (i)  any of its Organizational Documents in a manner that would reasonably be expected to cause a  Material Adverse Effect or (ii) in any manner materially adverse to the interests of the Lenders  any term or condition of any Material Indebtedness required to be subordinated in right of  payment to the Obligations except as permitted pursuant to or reasonably necessary to effect a  Permitted Refinancing thereof.  Section 6.10 Change in Nature of Business.  The U.S. Borrower will not, nor  will the U.S. Borrower permit any Restricted Subsidiary to, engage in any material line of  business substantially different from those lines of business conducted by the U.S. Borrower and  the Restricted Subsidiaries on the Restatement Date or any business reasonably related,  complementary, corollary, synergistic or ancillary thereto (including related, complementary,  synergistic or ancillary technologies) or reasonable extensions thereof.  Section 6.11 Financial Covenants.    (a) Total Secured Net Leverage Ratio. Except with the written consent of the Required  Revolving Lenders and the Required Tranche A Term Lenders, the Borrowers will not permit the  Total Secured Net Leverage Ratio, calculated as of the last day of the most recent fiscal quarter of  the U.S. Borrower for which financial statements were required to have been furnished to the  Administrative Agents pursuant to Section 5.01, to exceed a ratio of 3.25:1.00; provided that on  or after December 31, 2022, subject to the limitations set forth in the definition of Qualifying  Material Acquisition (including the delivery of a QMA Notice within the required time period set  forth in the definition of Qualifying Material Acquisition and compliance with the financial  covenant), such ratio shall be increased to 3.75:1.00 for the twelve month period following the  delivery of the QMA Notice (such period, the “Financial Covenant Increase Period”); provided  further that there shall be at least a twelve month period after the end of a Financial Covenant  Increase Period during which no QMA Notice is delivered.  (b) Consolidated Interest Coverage Ratio. Except with the written consent of the  Required Revolving Lenders and the Required Tranche A Term Lenders, the Borrowers will not  permit the Consolidated Interest Coverage Ratio as the last day of any fiscal quarter to be less than  3.00 to 1.00.  Section 6.12 Use of Proceeds.  The Borrowers will not, directly or indirectly, use  the proceeds of the Loans or Letters of Credit or lend, contribute or otherwise make available  such proceeds to any subsidiary, joint venture partner or other Person, (i) to fund any activities  or business of or with any Person, or in any country, region or territory, that, at the time of such  funding, is the subject of any Sanctions, or in any other manner that would result in a violation  of Sanctions by any Person (including any Person participating in the credit facility hereunder)  

 

  203    3141/80492-001 CURRENT/130883173v17  #95685245v21   or (ii) for any payments to any governmental official or employee, political party, official of a  political party, candidate for political office, or anyone else acting in an official capacity, in order  to obtain, retain or direct business or obtain any improper advantage, in violation of the FCPA  or any other applicable anti-corruption law.  ARTICLE VII  Events of Default  Section 7.01 Events of Default.  If any of the following events (any such event,  an “Event of Default”) shall occur:   (a) a Borrower or any other Loan Party 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;  (b) a Borrower or any other Loan Party shall fail to pay (x) any interest on any Loan,  when and as the same shall become due and payable, and such failure shall continue unremedied  for a period of five (5) Business Days or (y) or any fee payable hereunder or any other amount due  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 (5) Business Days;  (c) any representation, warranty or certification, when taken as a whole, made or  deemed made by any Loan Party in any Loan Document shall be false or incorrect in any material  respect as of the date made or deemed made;  (d) a Borrower shall default in the performance or compliance of Section 5.02(a)  (provided that the delivery of a notice of Default or Event of Default at any time will cure an Event  of Default under Section 5.02(a) arising from the failure of the U.S. Borrower to timely deliver  such notice of Default or Event of Default), Section 5.03 (solely with respect to the existence of a  Borrower in its jurisdiction of incorporation) or in Article VI; provided that any breach of Section  6.11 shall not constitute an Event of Default unless and until (i) the Revolving Facility  Administrative Agent (with the consent, or at the request, of the Required Revolving Lenders) has  actually terminated the Revolving Commitments and declared all outstanding Revolving Loans to  be immediately due and payable in accordance with this Agreement and such declaration has not  been rescinded on or before such date and (ii) the Tranche A Term Loan Administrative Agent  (with the consent, or at the request, of the Required Tranche A Term Lenders) has declared all  outstanding Tranche A Term Loans to be immediately due and payable in accordance with this  Agreement and such declaration has not been rescinded on or before such date;  (e) Any Loan Party shall default in the performance or compliance of any term  contained in any Loan Document (other than those specified in paragraph (a), (b) or (d) of this  Section 7.01), and default shall continue unremedied and unwaived for a period of thirty (30) days  after receipt by the Borrowers of written notice thereof from the Administrative Agents or the  Required Lenders;  (f) the U.S. Borrower or any Restricted Subsidiary shall fail to make any payment  beyond all applicable grace periods (whether of principal or interest and regardless of amount) in  

 

  204    3141/80492-001 CURRENT/130883173v17  #95685245v21   respect of any Material Indebtedness, when and as the same shall become due and payable after  giving effect to any applicable grace periods provided in the applicable instrument or agreement  under which such Material Indebtedness was created, provided that this paragraph (f) shall not  apply to any such failure that has been (x) remedied by the U.S. Borrower or applicable Restricted  Subsidiary or (y) waived (including in the form of amendment) by the requisite holders of the  applicable item of Material Indebtedness, in either case, prior to the acceleration of all the Loans  pursuant to this Section 7.01;  (g) (i) any breach or default (after all applicable grace periods having expired and all  required notices having been given) by the U.S. Borrower or any Restricted Subsidiary of any  Material Indebtedness if the effect of such breach or default is to cause such Material Indebtedness  to become due prior to its scheduled maturity or that enables or permits (with all applicable grace  periods having expired and all required notices having been given) the holder or holders of such  Material Indebtedness or any trustee or agent on its or their behalf to cause such Material  Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance  thereof, prior to its scheduled maturity, provided that this paragraph (g) shall not apply to (A)  secured Indebtedness that becomes due as a result of the sale, transfer or other disposition  (including as a result of a casualty or condemnation event) of the property or assets securing such  Indebtedness (to the extent such sale, transfer or other disposition is not prohibited under this  Agreement), (B) Indebtedness which is convertible into Equity Interest that converts to Equity  Interests in accordance with its terms or (C) any breach or default that (x) is remedied by the U.S.  Borrower or the applicable Restricted Subsidiary or (y) waived (including in the form of  amendment) by the requisite holders of the applicable item of Material Indebtedness, in either case,  prior to the acceleration of all the Loans pursuant to this Section 7.01 or (ii) an involuntary “early  termination event” or other similar event (which event shall extend beyond any applicable cure  periods or grace periods) shall have occurred in respect of obligations owing under any Swap  Agreement of the U.S. Borrower or any Restricted Subsidiary, and the amount of such obligations,  either individually or in the aggregate for all such Swap Agreements at such time, is in excess of  $100,000,000; provided that, in respect of obligations owing under any such Swap Agreement  owed to the applicable counterparty at such time, the amount for purposes of this Section  7.01(g)(ii) shall be the amount payable on a net basis by the U.S. Borrower or such Restricted  Subsidiary to such counterparty (after giving effect to all netting arrangements) if such Swap  Agreement were terminated at such time); provided that this paragraph (g)(ii) shall not apply to  any such event that has been (x) remedied by the U.S. Borrower or the applicable Restricted  Subsidiary or (y) waived (including in the form of amendment) by the applicable counterparty, in  either case, prior to the acceleration of all the Loans pursuant to this Section 7.01;  (h) subject to Section 7.02, (i) an involuntary proceeding shall be commenced or an  involuntary petition shall be filed seeking liquidation, reorganization, scheme of arrangement, the  suspension of payments, a moratorium of any indebtedness, winding-up, dissolution,  administration or other relief in respect of any Borrower or any other Restricted Subsidiary, or of  all or 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 involuntary appointment of a  receiver, trustee, custodian, sequestrator, conservator, liquidator, administrative receiver,  administrator, compulsory manager or similar official for the U.S. Borrower or any other  Restricted Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding  

 

  205    3141/80492-001 CURRENT/130883173v17  #95685245v21   shall continue undismissed and unstayed for sixty (60) consecutive days without having been  dismissed, bonded or discharged or an order of relief is entered in any such proceeding;  (i) subject to Section 7.02, any Borrower or any other Restricted Subsidiary shall (i)  voluntarily commence any proceeding seeking liquidation, reorganization, voluntary arrangement,  scheme of arrangement, the suspension of payments, a moratorium of any indebtedness, winding- up, dissolution, administration 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  any proceeding or petition described in paragraph (h) of this Section 7.01, (iii) consent to the  appointment of a receiver, trustee, custodian, sequestrator, conservator, liquidator, administrative  receiver, administrator, compulsory manager or similar official for the U.S. Borrower or any other  Restricted Subsidiary or for all or a substantial part of its assets or (iv) make a composition,  compromise, arrangement or general assignment for the benefit of creditors;  (j) any final, non-appealable judgment(s) for the payment of money in an aggregate  amount in excess of $100,000,000 (to the extent not covered by insurance or indemnities as to  which the applicable insurance company or third party has not denied coverage) shall be rendered  against the U.S. Borrower or any Restricted Subsidiary or any combination thereof and the same  shall remain undischarged, unvacated, unbounded and unstayed for a period of sixty (60)  consecutive days;  (k) an ERISA Event shall have occurred that would reasonably be expected to result  in a Material Adverse Effect;  (l) any Lien purported to be created under any Security Document shall cease to be,  or shall be asserted by any Loan Party not to be (other than in an informational notice to the  Administrative Agents), a valid and perfected (if and to the extent required to be perfected under  the applicable Security Document) Lien on any Collateral with a fair value in excess of  $30,000,000 at any time, with the priority required by the applicable Security Document (subject  to Liens permitted under Section 6.02), except (i) as a result of the release of a Loan Party or the  sale, transfer or other disposition of the applicable Collateral (including as a result of the  designation of a Restricted Subsidiary as an Unrestricted Subsidiary) in a transaction permitted  under the Loan Documents or the occurrence of the Termination Date or (ii) as a result of any  action of any Administrative Agent, Collateral Agent or any Lender or the failure of any  Administrative Agent, Collateral Agent, or any Lender to take any action that is within its control;  (m) at any time after the execution and delivery thereof, any material portion of the  Guarantee of the Obligations under the Subsidiary Guaranty or Parent Guaranty shall for any  reason other than the occurrence of the Termination Date or as expressly permitted hereunder or  thereunder (including or as a result of a transaction permitted hereunder) cease to be in full force  and effect, or any Loan Party shall contest the validity or enforceability in writing or repudiate,  rescind or deny in writing that it has any further liability or obligation under any Loan Document  other than as a result of the occurrence of the Termination Date, the sale or transfer of such Loan  Party (including the designation as an Unrestricted Subsidiary) or as a result of a transaction  permitted hereunder or thereunder; or  (n) a Change in Control shall have occurred;  

 

  206    3141/80492-001 CURRENT/130883173v17  #95685245v21   then, and in every such event (I) (other than (x) an event described in paragraph (d) of this Section  7.01 in respect of a default of performance or compliance with the covenants under Section 6.11  or (y) an event with respect to the Borrowers described in paragraph (h) or (i) of this Section 7.01;  provided that in the case of clause (x), the actions hereinafter described will be permitted to occur  only if the express conditions of the last proviso contained in Section 7.01(d) have been satisfied),  and at any time thereafter during the continuance of such event, the Administrative Agents with  the consent of the Required Lenders may, and at the request of the Required Lenders shall, by  notice to the Borrowers, take either or both of the following actions, at the same or different times  (except in the case of an event under paragraph (d) of this Section 7.01 in respect of a failure to  observe or perform the covenants under Section 6.11, the following actions may not be taken until  the express conditions in the last proviso contained in Section 7.01(d) have been satisfied):   (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, in which case  any principal not so declared to be due and payable may thereafter, during the continuance of such  event, 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 the Borrowers; (II)  in the case of an event under paragraph (d) of this Section 7.01 in respect of a failure to observe or  perform the covenants under Section 6.11, and at any time thereafter during the continuance of  such event, the Revolving Facility Administrative Agent with the consent of the Required  Revolving Lenders may, and at the request of the Required Revolving Lenders, shall, by notice to  the Borrowers, take either or both of the following actions, at the same or different times:  (i)  terminate the Revolving Commitments, and thereupon the Revolving Commitments shall  terminate immediately, and (ii) declare the Revolving Loans then outstanding to be due and  payable in whole (or in part, in which case any principal not so declared to be due and payable  may thereafter, during the continuance of such event, be declared to be due and payable), and  thereupon the principal of the Revolving 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 the Borrowers (to the extent permitted by applicable  law) and (III) in the case of an event under paragraph (d) of this Section 7.01 in respect of a failure  to observe or perform the covenants under Section 6.11, and at any time thereafter during the  continuance of such event, the Tranche A Term Loan Administrative Agent with the consent of  the Required Tranche A Term Lenders may, and at the request of the Required Tranche A Term  Lenders, shall, by notice to the Borrowers, declare the Tranche A Term Loans then outstanding to  be due and payable in whole (or in part, in which case any principal not so declared to be due and  payable may thereafter, during the continuance of such event, be declared to be due and payable),  and thereupon the principal of the Tranche A Term 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 the Borrowers (to the extent permitted  by applicable law); and in the case of any event with respect to the Borrowers described in  paragraph (h) or (i) of this Section 7.01, the Commitments shall 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 automatically become due and payable  

 

  207    3141/80492-001 CURRENT/130883173v17  #95685245v21   by the Borrowers, without presentment, demand, protest or other notice of any kind, all of which  are hereby waived by the Borrowers.    Section 7.02 Exclusion of Immaterial Subsidiaries.  Solely for the purposes of  determining whether a Default or an Event of Default has occurred under paragraph (h) or (i) of  Section 7.01, any reference in any such paragraph to any Restricted Subsidiary shall be deemed  not to include any Restricted Subsidiary affected by any event or circumstance referred to in  such paragraph that did not, as of the last day of the fiscal quarter of the U.S. Borrower most  recently ended, have assets with a value equal to or greater than 5.0% of Consolidated Total  Assets of the U.S. Borrower and its Restricted Subsidiaries as of such date, based on the  consolidated balance sheet of the U.S. Borrower and its Restricted Subsidiaries as of such date,  provided that if it is necessary to exclude more than one Restricted Subsidiary from paragraph  (h) or (i) of Section 7.01 pursuant to this paragraph in order to avoid a Default or an Event of  Default, the aggregate value of the assets of all such excluded Restricted Subsidiaries as of such  last day may not exceed 5.0% of Consolidated Total Assets of the U.S. Borrower and its  Restricted Subsidiaries as of such date, based on the consolidated balance sheet of the U.S.  Borrower and its Restricted Subsidiaries as of such date.  Section 7.03 Application of Proceeds.  (a) Upon the occurrence and during the continuation of an Event of Default, if  requested by Required Lenders, or upon acceleration of all the Obligations pursuant to Section  7.01, all proceeds received by the Administrative Agents or the Collateral Agent in respect of any  sale of, collection from, or other realization upon all or any part of the Collateral under any Loan  Document shall be applied by the Administrative Agents as follows:  (i) First, to payment of that portion of the Obligations constituting fees,  indemnities, expenses and other amounts (other than principal and interest)  payable to each Agent in its capacity as such;  (ii) Second, to payment of that portion of the Obligations constituting  fees, indemnities and other amounts (other than principal and interest) payable  to the Lenders, ratably among them in proportion to the amounts described in  this clause Second payable to them;  (iii)Third, to payment of that portion of the Obligations constituting  accrued and unpaid interest (including, but not limited to, post-petition interest),  ratably among the Lenders in proportion to the respective amounts described in  this clause Third payable to them;  (iv) Fourth, to payment of that portion of the Obligations constituting  unpaid principal, unreimbursed LC Disbursements or face amounts of the  Loans, and Swap Termination Value under Secured Swap Agreements and  Secured Cash Management Obligations and for the account of the Issuing Bank,  to Cash Collateralize that portion of Obligations comprised of the aggregate  undrawn amount of Letters of Credit, ratably among the Secured Parties in  

 

  208    3141/80492-001 CURRENT/130883173v17  #95685245v21   proportion to the respective amounts described in this clause Fourth held by  them;  (v) Fifth, to the payment of all other Secured Obligations of the Loan  Parties that are due and payable to the Administrative Agents and the other  Secured Parties on such date, ratably based upon the respective aggregate  amounts of all such Secured Obligations owing to the Administrative Agents  and the other Secured Parties on such date; and  (vi) Last, the balance, if any, after all of the Secured Obligations have  been paid in full, to the Borrowers or as otherwise required by law.  Subject to Section 2.05(c), amounts used to Cash Collateralize the aggregate undrawn amount of  Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such  Letters of Credit as they occur.  If any amount remains on deposit as Cash Collateral after all  Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied  to the other Obligations, if any, in the order set forth above and, if no Obligations remain  outstanding, to the U.S. Borrower.  Notwithstanding the foregoing, (a) amounts received from any Subsidiary Loan Party that is not  an “Eligible Contract Participant” (as defined in the Commodity Exchange Act) shall not be  applied to the obligations that are Excluded Swap Obligations and (b) Secured Cash Management  Obligations shall be excluded from the application described above if the Administrative Agents  have not received written notice thereof, together with such supporting documentation as the  Administrative Agents may request, from the applicable Lender Counterparty.  Each Lender  Counterparty not a party to this Agreement that has given the notice contemplated by the preceding  sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of  the Administrative Agents pursuant to the terms of Article VIII hereof for itself and its Affiliates  as if a “Lender” party hereto. Notwithstanding anything to the contrary herein, the parties hereto  acknowledge and agree that any remedies in this Article VII exercised against the U.K. Borrower  are not for the benefit of the U.S. Obligations or any obligations of a U.S. Loan Party on account  of the U.K. Obligations.  ARTICLE VIII  The Administrative Agents and Collateral Agent  Section 8.01 Appointment of Agents.  Each of the Lenders and the Issuing Bank  hereby irrevocably appoints JPMorgan Chase Bank, N.A. to act on its behalf as the Tranche A  Term Loan Administrative Agent, the Revolving Facility Administrative Agent and Collateral  Agent hereunder and under the Loan Documents, and authorizes each Administrative Agent and  the Collateral Agent to take such actions on its behalf and to exercise such powers as are  delegated to the Administrative Agents and Collateral Agent by the terms of the Loan  Documents, together with such actions and powers as are reasonably incidental thereto. Unless  otherwise specifically set forth herein, the Collateral Agent shall have all the rights and benefits  of the Administrative Agents set forth in this Article.   

 

  209    3141/80492-001 CURRENT/130883173v17  #95685245v21   The Collateral Agent shall act as the “collateral agent” under the Loan Documents,  and each of the Lenders (including in its capacities as a Lender Counterparty or potential Lender  Counterparty) and the Issuing Bank hereby irrevocably appoints and authorizes the Collateral  Agent to act as the agent of such Lender and the Issuing Bank for purposes of acquiring, holding  and enforcing any and all Liens on Collateral granted by any of the Loan Parties pursuant to the  Security Documents to secure any of the Obligations, together with such powers and discretion as  are reasonably incidental thereto.  In this connection, the Collateral Agent, as “collateral agent”  and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agents  pursuant to Section 8.05 for purposes of holding or enforcing any Lien on the Collateral (or any  portion thereof) granted under the Security Documents, or for exercising any rights and remedies  thereunder at the direction of the Administrative Agents, shall be entitled to the benefits of all  provisions of this Article VIII and Section 9.03 (as though such co-agents, subagents and  attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein  with respect thereto.  The Lenders acknowledge and agree (and each Lender Counterparty shall be  deemed to hereby acknowledge and agree) that Collateral Agent may also act as the collateral  agent for lenders under the Other Term Loans, the Other Revolving Commitments, the Term Loan  Exchange Notes, the Additional Term Notes, the Unrestricted Additional Term Notes, Credit  Agreement Refinancing Indebtedness and the Refinancing Notes.  Section 8.02 Rights of Lender.  Each bank serving as an Administrative Agent  or Collateral Agent hereunder shall have the same rights and powers in its capacity as a Lender  as any other Lender and may exercise the same as though it were not an Administrative Agent  or Collateral Agent, and with respect to any of its Loans or Commitments hereunder, the term  “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context  otherwise requires, include the Person serving as an Administrative Agent and Collateral Agent  hereunder in its individual capacity.  Such Person and its Affiliates may accept deposits from,  lend money to, act as the financial advisor or in any other advisory capacity for and generally  engage in any kind of business with the Borrowers or any Subsidiary or other Affiliate thereof  as if such Person were not an Administrative Agent or Collateral Agent hereunder and without  any duty to account therefor to the Lenders.  Section 8.03 Exculpatory Provisions.  Each Administrative Agent and the  Collateral Agent shall not have any duties or obligations except those expressly set forth herein  and in the other Loan Documents.  Without limiting the generality of the foregoing each  Administrative Agent and the Collateral Agent, (a) shall not be subject to any fiduciary or other  implied duties, regardless of whether a Default has occurred and is continuing, (b) shall not have  any duty to take any discretionary action or exercise any discretionary powers, except  discretionary rights and powers expressly contemplated hereby or by the other Loan Documents  that an Administrative Agent or the Collateral Agent is required to exercise in writing as directed  by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly  provided for herein or in the other Loan Documents), provided that an Administrative Agent  shall not be required to take any action that, in its opinion or the opinion of its counsel, may  expose such Administrative Agent to liability or that is contrary to any Loan Document or  applicable law and (c) shall not, except as expressly set forth herein or in the other Loan  Documents, have any duty to disclose, and shall not be liable to the Lenders for the failure to  disclose, any information relating to the Borrowers or any Subsidiary that is communicated to  

 

  210    3141/80492-001 CURRENT/130883173v17  #95685245v21   or obtained by the bank serving as an Administrative Agent, Collateral Agent or any of their  respective Affiliates in any capacity.  The Administrative Agents and the Collateral Agent shall  not be liable for any action taken or not taken by it 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 such Administrative Agent shall believe in good faith shall be necessary under the  circumstances as provided in Section 9.02) or in the absence of its own gross negligence or  willful misconduct.  Each Administrative Agent and the Collateral Agent shall be deemed not to  have knowledge of any Default unless and until written notice thereof is given to the  Administrative Agents by the Borrowers, a Lender or the Issuing Bank, and the Administrative  Agents and the Collateral Agent shall not be responsible for or have any duty to ascertain or  inquire into (i) any statement, warranty or representation made in or in connection with this  Agreement or any other Loan Document, (ii) the contents of any certificate, report or other  document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the  performance or observance of any of the covenants, agreements or other terms or express  conditions set forth in any Loan Document or the occurrence of any Default, (iv) the validity,  enforceability, effectiveness or genuineness of this Agreement or any other Loan Document or  any other agreement, instrument or document or the creation, perfection or priority of any Lien  purported to be created by the Security Documents or that the Liens granted to the Collateral  Agent pursuant to any Security Document have been properly or sufficiently or lawfully created,  perfected, protected or enforced or are entitled to any particular priority, (v) the value or the  sufficiency of any Collateral or (vi) 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.  The Administrative Agents shall have no obligation to monitor  whether any amendment or waiver to any Loan Document has properly become effective or is  permitted hereunder or thereunder except to the extent expressly agreed to by the Administrative  Agents in such amendment or waiver.  Section 8.04 Reliance by Administrative Agents and Collateral Agent.  Each of  the Administrative Agents and the Collateral Agent shall be entitled to rely upon, 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 in good faith to be genuine and to have been  signed or sent or otherwise authenticated by the proper Person.  Each of the Administrative  Agents and the Collateral Agent also may rely upon any statement made to it orally or by  telephone and believed by it in good faith to be made by the proper Person, and shall not incur  any liability to the Lenders for relying thereon.  Each of the Administrative Agents and the  Collateral Agent may consult with legal counsel (who may be counsel for the Borrowers),  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.   In determining compliance with any condition hereunder to the making of a Loan, or the issuance  of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the  Issuing Bank, the Revolving Facility Administrative Agent may presume that such condition is  satisfactory to such Lender or the Issuing Bank unless the Revolving Facility Administrative  Agent shall have received notice to the contrary from such Lender or the Issuing Bank prior to  the making of such Loan or the issuance of such Letter of Credit.  

 

  211    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 8.05 Delegation of Duties.  Each of the Administrative Agents and the  Collateral Agent may perform any and all of its duties and exercise its rights and powers  hereunder or under any other Loan Documents by or through any one or more sub-agents  appointed by any Administrative Agent.  Each of the Administrative Agents and the Collateral  Agent and any such sub-agent may perform any and all its duties and exercise its rights and  powers by or through their respective Related Parties.  The exculpatory provisions of this Article  shall apply to any such sub-agent and to the Related Parties of the Administrative Agents 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 an Administrative  Agent or Collateral Agent.  Section 8.06 Resignation of Agents; Successor, Administrative Agent and  Collateral Agent.  The applicable Administrative Agent and the Collateral Agent may at any  time resign by giving thirty (30) days’ prior written notice of its resignation to the Lenders, the  Issuing Bank and the Borrowers.  If the applicable Administrative Agent is a Defaulting Lender  pursuant to clause (d) of the definition of “Defaulting Lender” (for purposes of this Section 8.06,  clause (d) of the definition of “Defaulting Lender” shall not include a direct or indirect parent  company of such Administrative Agent), either the Required Lenders or the Borrowers may upon  ten (10) days’ prior notice remove such Administrative Agent or the Collateral Agent, as the case  may be.  Upon receipt of any such notice of resignation or delivery of such removal notice, the  Required Lenders shall have the right, with the consent of the Borrowers (provided that such  consent shall not be unreasonably withheld or delayed and that such consent shall not be required  at any time that an Event of Default under Section 7.01(a), (h) or (i) shall have occurred and be  continuing), to appoint a successor, which shall be a bank with an office in the United States, or  an Affiliate of any such bank with an office in the United States; it being understood that the  Required Lenders hereby consent to the appointment of JPMorgan Chase Bank, N.A. as  Collateral Agent pursuant to the Successor Collateral Agent Agreement and Guaranty  Reaffirmation and hereby waive all notice and qualification requirements for such appointment  set forth in any Loan Document.  If no such successor shall have been so appointed by the  Required Lenders and shall have accepted such appointment within thirty (30) days after the  retiring Administrative Agent or Collateral Agent, as applicable, gives notice of its resignation  or the delivery of such removal notice, then (a) in the case of a retirement, the retiring  Administrative Agent may on behalf of the Lenders and the Issuing Bank, appoint a successor  Administrative Agent or Collateral Agent, as applicable, meeting the qualifications set forth  above (including the consent of the Borrowers) or (b) in the case of a removal, the Borrowers  may, after consulting with the Required Lenders, appoint a successor Administrative Agent or  Collateral Agent, as applicable, meeting the qualifications set forth above; provided that (x) in  the case of a retirement, if the applicable Administrative Agent shall notify the Borrowers and  the Lenders that no qualifying Person has accepted such appointment or (y) in the case of a  removal, the Required Lenders notify the Borrowers that no qualifying Person has accepted such  appointment, then, in each case, such resignation or removal shall nonetheless become effective  in accordance with such notice and (i) the retiring or removed Administrative Agent or Collateral  Agent, as applicable, shall be discharged from its duties and obligations hereunder and under the  other Loan Documents (except that in the case of any collateral security held by such  Administrative Agent or the Collateral Agent, as applicable, on behalf of the Lenders or the  Issuing Bank under any of the Loan Documents, the retiring or removed Administrative Agent  

 

  212    3141/80492-001 CURRENT/130883173v17  #95685245v21   or Collateral Agent, as applicable, shall continue to hold such collateral security, as bailee, until  such time as a successor Administrative Agent or Collateral Agent, as applicable, is appointed  and, with respect to its rights and obligations under the Loan Documents, until such rights and  obligations have been assigned to and assumed by the successor Administrative Agent or  Collateral Agent), (ii) all payments, communications and determinations provided to be made  by, to or through the applicable Administrative Agent shall instead be made by or to each Lender  and the Issuing Bank directly (and each Lender and Issuing Bank will cooperate with the  Borrowers to enable the Borrowers to take such actions), until such time as the Required Lenders  or the Borrowers, as applicable, appoint a successor Administrative Agent, as provided for above  in this Section 8.06 and (iii) the Borrowers and the Lenders agree that in no event shall the  retiring Administrative Agent and Collateral Agent or any of their respective Affiliates or any of  their respective officers, directors, employees, agents, advisors or representatives have any  liability to the Loan Parties, any Lender or any other Person or entity for damages of any kind,  including, without limitation, direct or indirect, special, incidental or consequential damages,  losses or expenses (whether in tort, contract or otherwise) arising out of the failure of a successor  Administrative Agent or Collateral Agent to be appointed and to accept such appointment.  Upon  the acceptance of a successor’s appointment as an Administrative Agent or Collateral Agent, as  applicable hereunder, such successor shall succeed to and become vested with all of the rights,  powers, privileges and duties of the retiring (or retired) Administrative Agent or Collateral  Agent, as applicable, and the retiring Administrative Agent or Collateral Agent, as applicable,  shall be discharged from all of its duties and obligations hereunder or under the other Loan  Documents (if not already discharged therefrom as provided above in this Article).  The fees  payable by the Borrowers to a successor Administrative Agent or Collateral Agent shall be the  same as those payable to its predecessor unless otherwise agreed between the Borrowers and  such successor.  After any retiring Administrative Agent’s resignation hereunder and under the  other Loan Documents, the provisions of this Article VIII and Section 9.03 shall continue in  effect for the benefit of such retiring Administrative Agent or Collateral 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 the retiring Administrative Agent or Collateral Agent was acting as Administrative  Agent or Collateral Agent.  Section 8.07 Non-Reliance on Agents and Other Lenders.  Each Lender and the  Issuing Bank acknowledges that it has, independently and without reliance upon any  Administrative Agent, the Collateral Agent or any other Lender or any of their Related Parties  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 the Issuing Bank also  acknowledges that it will, independently and without reliance upon any Administrative Agent,  the Collateral Agent or any other Lender or any of their Related Parties 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 any Loan Document or any  related agreement or any document furnished thereunder.  Section 8.08 No Other Duties.  Notwithstanding anything herein to the contrary,  none of the Agents, Joint Lead Arrangers, Joint Bookrunners, Documentation Agents or  Syndication Agents listed on the cover page hereof shall have any powers, duties or  

 

  213    3141/80492-001 CURRENT/130883173v17  #95685245v21   responsibilities under any Loan Document, except in its capacity, as applicable, as an  Administrative Agent, Collateral Agent, a Lender or an Issuing Bank hereunder.   Section 8.09 Collateral and Guaranty Matters.  Each Lender hereby agrees, and  each holder of any Note by the acceptance thereof will be deemed to agree, that, except as  otherwise set forth herein, any action taken by the Required Lenders in accordance with the  provisions of this Agreement or the Security Documents, and the exercise by the Required  Lenders of the powers set forth herein or therein, together with such other powers as are  reasonably incidental thereto, shall be authorized and binding upon all of the Lenders. Each of  the Lenders, the Lender Counterparties and the Issuing Bank irrevocably authorize each of the  Administrative Agents and the Collateral Agent,  (a) to release any Lien on any property granted to or held by the Administrative  Agents or the Collateral Agent (or any sub-agent thereof) under any Loan Document (i) upon the  Termination Date, (ii) that is sold or to be sold or transferred as part of or in connection with any  sale or other transfer permitted hereunder or under any other Loan Document to a Person that is  not a Loan Party or in connection with the designation of any Restricted Subsidiary as an  Unrestricted Subsidiary, (iii) that constitutes Excluded Property, (iv) if the property subject to such  Lien is owned by a Loan Party, upon the release of such Loan Party from the Subsidiary Guaranty  otherwise in accordance with the Loan Documents, (v) as to the extent, if any, provided in the  Security Documents or (vi) if approved, authorized or ratified in writing in accordance with  Section 9.02;  (b) to release any Subsidiary Loan Party from its obligations under the Subsidiary  Guaranty if such Person ceases to be a Restricted Subsidiary (or becomes an Excluded Subsidiary)  as a result of a transaction or designation permitted hereunder;  (c) to subordinate any Lien on any property granted to or held by the Administrative  Agents or the Collateral Agent under any Loan Document to the holder of any Lien on such  property that is permitted under Section 6.02(d) and Section 6.02(e);  (d) enter into subordination or intercreditor agreements with respect to Indebtedness  to the extent the Collateral Agent is otherwise contemplated herein as being a party to such  intercreditor or subordination agreement, in each case to the extent such agreements are  substantially consistent with the terms set forth on (i) Exhibit K-1 or K-2 annexed hereto together  with (A) any immaterial changes and (B) material changes thereto in light of prevailing market  conditions, which material changes shall be posted to the Lenders and, unless the Required Lenders  shall have objected in writing to such changes within five (5) Business Days after such posting,  then the Required Lenders shall be deemed to have agreed that the Collateral Agent’s entering into  such intercreditor agreement (with such changes) is reasonable and to have consented to such  intercreditor agreement (with such changes) and to the Collateral Agent’s execution thereof, in  each case in form and substance reasonably satisfactory to the Collateral Agent (it being  understood that junior Liens are not required to be pari passu with other junior Liens, and that  Indebtedness secured by junior Liens may be secured by Liens that are pari passu with, or junior  in priority to, other Liens that are junior to the Liens securing the Obligations); and  

 

  214    3141/80492-001 CURRENT/130883173v17  #95685245v21   (e) to enter into and sign for and on behalf of the Lenders as Secured Parties the  Security Documents for the benefit of the Lenders and the other Secured Parties.  Upon request by the Administrative Agents or the Collateral Agent at any time, the Required  Lenders (or such greater number of Lenders as may be required pursuant to Section 9.02(b)(v) or  (vi)) will confirm in writing the Administrative Agents’ or the Collateral Agent’s, as the case may  be, authority to release or subordinate its interest in particular types or items of property, or to  release any Loan Party from its obligations under the Subsidiary Guaranty pursuant to this Section  8.09.  In each case as specified in this Section 8.09, the Administrative Agents and the Collateral  Agent will (and each Lender hereby authorizes the Administrative Agents and the Collateral Agent  to), at the Borrowers’ expense, execute and deliver to the applicable Loan Party such documents  as such Loan Party may reasonably request to evidence the release of such item of Collateral from  the assignment and security interest granted under the Security Documents or to subordinate its  interest in such item, or to release such Loan Party from its obligations under the Subsidiary  Guaranty, in each case in accordance with the terms of the Loan Documents and this Section 8.09.  Section 8.10 Secured Swap Agents and Secured Cash Management Agents.  No  Lender Counterparty that obtains the benefits of Section 16 of the Collateral Agreement, the  Subsidiary Guaranty, the Parent Guaranty or any Collateral by virtue of the provisions hereof or  of the Subsidiary Guaranty, the Parent Guaranty or any Security Document shall have any right  to notice of any action or to consent to, direct or object to any action hereunder or under any  other Loan Document or otherwise in respect of the Collateral (including the release or  impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the  extent expressly provided in the Loan Documents.  Notwithstanding any other provision of this  Article VIII to the contrary, neither Administrative Agent nor the Collateral Agent shall be  required to verify the payment of, or that other satisfactory arrangements have been made with  respect to, Secured Swap Obligations or Secured Cash Management Obligations arising under  Secured Swap Agreements or Secured Cash Management Agreements with Lender  Counterparties unless the Administrative Agents have received written notice of such Secured  Obligations, together with such supporting documentation as the Administrative Agents may  request, from the applicable Lender Counterparty.  Section 8.11 Withholding Tax.  To the extent required by any applicable law (as  determined in good faith by the applicable Administrative Agent), the applicable Administrative  Agent may withhold from any payment to any Lender under any Loan Document an amount  equivalent to any applicable withholding Tax.  If the IRS or any other Governmental Authority  of any jurisdiction asserts a claim that an Administrative Agent did not properly withhold Tax  from amounts paid to or for the account of any Lender for any reason (including because the  appropriate form was not delivered, was not properly executed or because such Lender failed to  notify such Administrative Agent of a change in circumstances that rendered the exemption  from, or reduction of, withholding Tax ineffective), such Lenders shall indemnify such  Administrative Agent (to the extent that such Administrative Agent has not already been  reimbursed by the Borrowers and without limiting the obligation of the Borrowers to do so) fully  for, and shall make payable in respect thereof within ten (10) days after demand therefor, all  amounts paid, directly or indirectly, by such Administrative Agent as Tax or otherwise, including  penalties and interest, together with all expenses incurred, including legal expenses, allocated  

 

  215    3141/80492-001 CURRENT/130883173v17  #95685245v21   staff costs and any out of pocket expenses. A certificate as to the amount of such payment or  liability delivered to any Lender by such Administrative Agent shall be conclusive absent  manifest error.  Each Lender hereby authorizes such Administrative Agent to set off and apply  any and all amounts at any time owing to such Lender under this Agreement or any other Loan  Document against any amount due such Administrative Agent under this Section 8.11.  The  agreements in this Section 8.11 shall survive the resignation and/or replacement of any  Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the  termination of the Commitments and the repayment, satisfaction or discharge of all other  Obligations.  For purposes of this Section 8.11, the term “Lender” includes any Issuing Bank.  Section 8.12 Administrative Agents and Collateral Agent May File Proofs of  Claim.  In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,  administration, administrative receivership, reorganization, voluntary arrangement, scheme of  arrangement, arrangement, adjustment or composition under any Debtor Relief Law or any other  judicial proceeding relative to any Loan Party, each Administrative Agent and the Collateral  Agent (irrespective of whether the principal of any Loan or LC Exposure shall then be due and  payable as herein expressed or by declaration or otherwise and irrespective of whether such  Administrative Agent or the Collateral Agent shall have made any demand on the Borrowers)  shall be entitled and empowered, by intervention in such proceeding or otherwise:  (a) to file and prove a claim for the amount of the principal and interest owing and  unpaid in respect of the Loans, LC Exposures and all other Obligations, in each case, that are  owing and unpaid by such Loan Party and to file such other documents as may be necessary or  advisable in order to have such claims of the Lenders, the Issuing Bank, the applicable  Administrative Agent and the Collateral Agent (including any claim for the reasonable  compensation, expenses, disbursements and advances of the Lenders, the Issuing Bank, the  applicable Administrative Agent and the Collateral Agent and their respective agents and counsel  and all other amounts due the Lenders, the Issuing Bank, the applicable Administrative Agent and  the Collateral Agent under Section 2.12 and Section 9.03 which are payable by such Loan Party)  allowed in such judicial proceeding;  (b) to collect and receive any monies or other property payable or deliverable on any  such claims and to distribute the same; and  (c) any custodian, receiver, assignee, trustee, liquidator, sequestrator, examiner,  administrative receiver, administrator, compulsory manager or other similar official in any such  judicial proceeding is hereby authorized by each Lender and the Issuing Bank to make such  payments to such Administrative Agent and, if such Administrative Agent shall consent, to the  making of such payments directly to the Lenders and the Issuing Bank, to pay to such  Administrative Agent (and Lenders and Issuing Bank, as applicable) any amount due for the  reasonable compensation, expenses, disbursements and advances of such Administrative Agent  and its agents and counsel, and any other amounts due such Administrative Agent under Section  2.12 and Section 9.03 in each case reimbursable or payable by such Loan Party.  Nothing contained herein shall be deemed to authorize any Administrative Agent or the Collateral  Agent to authorize or consent to or accept or adopt on behalf of any Lender or the Issuing Bank  any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or  

 

  216    3141/80492-001 CURRENT/130883173v17  #95685245v21   the rights of any Lender or the Issuing Bank to authorize any Administrative Agent or the  Collateral Agent to vote in respect of the claim of any Lender or the Issuing Bank or in any such  proceeding, in each case subject to Section 14(d) of the Collateral Agreement.  Section 8.13 Certain ERISA Matters.     Each Lender (x) represents and warrants, as of the date such Person  became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender  party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the  Administrative Agents, Joint Lead Arrangers and their respective Affiliates, and not, for the  avoidance of doubt, to or for the benefit of the U.S. Borrower or any other Loan Party, that at  least one of the following is and will be true:  (i) such Lender is not using “plan assets” (within the meaning of  Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect  to such Lender’s entrance into, participation in, administration of and  performance of the Loans, the Letters of Credit, the Commitments or this  Agreement,   (ii) the transaction exemption set forth in one or more PTEs, such as  PTE 84-14 (a class exemption for certain transactions determined by  independent qualified professional asset managers), PTE 95-60 (a class  exemption for certain transactions involving insurance company general  accounts), PTE 90-1 (a class exemption for certain transactions involving  insurance company pooled separate accounts), PTE 91-38 (a class exemption  for certain transactions involving bank collective investment funds) or PTE 96- 23 (a class exemption for certain transactions determined by in-house asset  managers), is applicable with respect to such Lender’s entrance into,  participation in, administration of and performance of the Loans, the Letters of  Credit, the Commitments and this Agreement,   (iii)(A) such Lender is an investment fund managed by a “Qualified  Professional Asset Manager” (within the meaning of Part VI of PTE 84-14),  (B) such Qualified Professional Asset Manager made the investment decision  on behalf of such Lender to enter into, participate in, administer and perform  the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the  entrance into, participation in, administration of and performance of the Loans,  the Letters of Credit, the Commitments and this Agreement satisfies the  requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to  the best knowledge of such Lender, the requirements of subsection (a) of Part I  of PTE 84-14 are satisfied with respect to such Lender’s entrance into,  participation in, administration of and performance of the Loans, the Letters of  Credit, the Commitments and this Agreement, or  (iv) such other representation, warranty and covenant as may be agreed  in writing between each Administrative Agent, in its sole discretion, and such  Lender.  

 

  217    3141/80492-001 CURRENT/130883173v17  #95685245v21    In addition, unless either (1) sub-clause (i) in the immediately preceding  clause (a) is true with respect to a Lender or (2) a Lender has provided another representation,  warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause  (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender  party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to  the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative  Agents, Joint Lead Arrangers and their respective Affiliates, and not, for the avoidance of doubt,  to or for the benefit of the U.S. Borrower or any other Loan Party, that no Administrative Agent  is a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into,  participation in, administration of and performance of the Loans, the Letters of Credit, the  Commitments and this Agreement (including in connection with the reservation or exercise of  any rights by the Administrative Agents under this Agreement, any Loan Document or any  documents related hereto or thereto).  Section 8.14 Acknowledgements of Lender and Issuing Banks.    (a) Each Lender and each Issuing Bank represents and warrants that (i) the Loan  Documents set forth the terms of a commercial lending facility, (ii) it is engaged in making,  acquiring or holding commercial loans  and in providing other facilities set forth herein as may be  applicable to such Lender or Issuing Bank, in each case in the ordinary course of business, and not  for the purpose of purchasing, acquiring or holding any other type of financial instrument (and  each Lender and each Issuing Bank agrees not to assert a claim in contravention of the foregoing),  (iii) it has, independently and without reliance upon the applicable Administrative Agent, any  Arranger, any Syndication Agent, any Co-Documentation Agent 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 as a Lender, and to make, acquire or hold Loans hereunder and (iv) it is  sophisticated with respect to decisions to make, acquire and/or hold commercial loans and to  provide other facilities set forth herein, as may be applicable to such Lender or such Issuing Bank,  and either it, or the Person exercising discretion in making its decision to make, acquire and/or  hold such commercial loans or to provide such other facilities, is experienced in making, acquiring  or holding such commercial loans or providing such other facilities.  Each Lender and each Issuing  Bank also acknowledges that it will, independently and without reliance upon the Administrative  Agent, any Arranger, any Syndication Agent, any Co-Documentation Agent 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 (which may contain material, non-public information within the meaning of the  United States securities laws concerning the Borrowers and their Affiliates) 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.  (b) Each Lender, by delivering its signature page to Amendment No. 3 on the  Amendment No. 3 Effective Date, or delivering its signature page to an Assignment and  Assumption or any other Loan Document pursuant to which it shall become a Lender hereunder,  shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan  

 

  218    3141/80492-001 CURRENT/130883173v17  #95685245v21   Document and each other document required to be delivered to, or be approved by or satisfactory  to, the applicable Administrative Agent or the Lenders on the Amendment No. 3 Effective Date.  (c) (i) Each Lender hereby agrees that (x) if the applicable Administrative Agent  notifies such Lender that the applicable Administrative Agent has determined in its sole discretion  that any funds received by such Lender from the applicable Administrative Agent or any of its  Affiliates (whether as a payment, prepayment or repayment of principal, interest, fees or otherwise;  individually and collectively, a “Payment”) were erroneously transmitted to such Lender (whether  or not known to such Lender), and demands the return of such Payment (or a portion thereof), such  Lender shall promptly, but in no event later than one Business Day thereafter, return to the  applicable Administrative Agent the amount of any such Payment (or portion thereof) as to which  such a demand was made in same day funds, together with interest thereon in respect of each day  from and including the date such Payment (or portion thereof) was received by such Lender to the  date such amount is repaid to the applicable Administrative Agent at the greater of the NYFRB  Rate and a rate determined by the applicable Administrative Agent in accordance with banking  industry rules on interbank compensation from time to time in effect, and (y) to the extent  permitted by applicable law, such Lender shall not assert, and hereby waives, as to the  Administrative Agent, any claim, counterclaim, defense or right of set-off or recoupment with  respect to any demand, claim or counterclaim by the applicable Administrative Agent for the return  of any Payments received, including without limitation any defense based on “discharge for value”  or any similar doctrine.  A notice of the applicable Administrative Agent to any Lender under this  Section 8.14(c) shall be conclusive, absent manifest error.  (ii) Each Lender hereby further agrees that if it receives a Payment from  the applicable Administrative Agent or any of its Affiliates (x) that is in a  different amount than, or on a different date from, that specified in a notice of  payment sent by the applicable Administrative Agent (or any of its Affiliates)  with respect to such Payment (a “Payment Notice”) or (y) that was not preceded  or accompanied by a Payment Notice, it shall be on notice, in each such case,  that an error has been made with respect to such Payment.  Each Lender agrees  that, in each such case, or if it otherwise becomes aware a Payment (or portion  thereof) may have been sent in error, such Lender shall promptly notify the  applicable Administrative Agent of such occurrence and, upon demand from  the Administrative Agent, it shall promptly, but in no event later than one  Business Day thereafter, return to the applicable Administrative Agent the  amount of any such Payment (or portion thereof) as to which such a demand  was made in same day funds, together with interest thereon in respect of each  day from and including the date such Payment (or portion thereof) was received  by such Lender to the date such amount is repaid to the applicable  Administrative Agent at the greater of the NYFRB Rate and a rate determined  by the applicable Administrative Agent in accordance with banking industry  rules on interbank compensation from time to time in effect.  (iii)The Borrowers and each other Loan Party hereby agrees that (x) in  the event an erroneous Payment (or portion thereof) are not recovered from any  Lender that has received such Payment (or portion thereof) for any reason, the  

 

  219    3141/80492-001 CURRENT/130883173v17  #95685245v21   applicable Administrative Agent shall be subrogated to all the rights of such  Lender with respect to such amount and (y) an erroneous Payment shall not pay,  prepay, repay, discharge or otherwise satisfy any Obligations owed by the  applicable Borrower or any other Loan Party; provided, that for the avoidance  of doubt, the immediately preceding clauses (x) and (y) shall not apply to the  extent any such erroneous Payment is, and solely with respect to the amount of  such erroneous Payment that is, comprised of funds received by the applicable  Administrative Agent from the applicable Borrower for the purpose of making  such erroneous Payment.  (iv) Each party’s obligations under this 8.14(c) shall survive the  resignation or replacement of the applicable Administrative Agent or any  transfer of rights or obligations by, or the replacement of, a Lender, the  termination of the Commitments or the repayment, satisfaction or discharge of  all Obligations under any Loan Document.  (v) For the avoidance of doubt, for purposes of this 8.14(c), the term  “Lender” includes any Issuing Bank.  ARTICLE IX  Miscellaneous  Section 9.01 Notices.  Except in the case of notices and other communications  expressly permitted to be given by telephone, 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 or sent by facsimile, as follows:  (a) if to a Borrower or any Loan Party, to it at Zebra Technologies Corporation, 3  Overlook Point, Lincolnshire, IL 60069, Attention of Chief Financial Officer (Facsimile No.: 847- 955-4514) and Chief Legal Officer (Facsimile No.: 847-821-1492), and a copy (which shall not  constitute notice) to Proskauer Rose LLP, 70 West Madison, Suite 3800, Chicago, IL 60602,  Attention of Evan Palenschat (Email: epalenschat@proskauer.com);  (b) if to the Tranche A Term Loan Administrative Agent, the Revolving Facility  Administrative Agent or the Collateral Agent, to the address, telecopier number, electronic mail  address or telephone number specified for such Person on Schedule 9.01;  (c) if to an Issuing Bank, to it at the address or facsimile number set forth separately  in writing and delivered to the U.S. Borrower and the Revolving Facility Administrative Agent;   (d) if to the Swingline Lender, to it at the address or facsimile number set forth  separately in writing and delivered to the Borrowers and the Revolving Facility Administrative  Agent; and  (e) if to any other Lender, to it at its address (or facsimile number) set forth in its  Administrative Questionnaire.  

 

  220    3141/80492-001 CURRENT/130883173v17  #95685245v21   Any party hereto may change its address or facsimile number for notices and other  communications hereunder by notice to the other parties hereto.  Subject to Section 9.15, notices  and other communications to the Lenders and the Issuing Bank hereunder may also be delivered  or furnished by electronic communication (including e-mail and Internet or intranet websites)  pursuant to procedures approved by the Administrative Agents, provided that the foregoing shall  not apply to notices to any Lender or the Issuing Bank pursuant to Article II if such Lender or the  Issuing Bank, as applicable, has notified the applicable Administrative Agent that it is incapable  of receiving notices under such Article by electronic communication.  The Administrative Agents  or the Borrowers may, in their discretion, agree to accept notices and other communications to it  hereunder by electronic communications pursuant to procedures approved by it, provided that  approval of such procedures may be limited to particular notices or communications.  All notices  and other communications given to any party hereto in accordance with the provisions of this  Agreement shall be deemed to have been given on the date of receipt.  Section 9.02 Waivers; Amendments.  (a) No failure or delay by any  Administrative Agent, the Issuing Bank or any Lender in exercising any right or power under  any 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 each Administrative Agent, the Issuing Bank 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 purpose for which  given.  Without limiting the generality of the foregoing, the making of a Loan or the issuance,  amendment, renewal or extension of a Letter of Credit shall not be construed as a waiver of any  Default, regardless of whether any Administrative Agent, any Lender or the Issuing Bank may  have had notice or knowledge of such Default at the time.  No notice or demand on the Borrowers  in any case shall entitle the Borrowers to any other or further notice or demand in similar or other  circumstances.  (b) Except as provided in Section 2.14(b), in Section 2.20 with respect to any  Incremental Facility Amendment, in Section 2.21, with respect to any Refinancing Amendment,  in Section 2.24 with respect to an Extension Offer, in connection with the Term Loan Exchange  Notes, in Section 9.02(d) with respect to any amendment in respect of Replacement Term Loans  in Section 9.02(i), in Section 9.16, in Section 2.27 or as otherwise specifically provided below or  otherwise provided herein or in a Loan Document, 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 the Borrowers 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 applicable Administrative Agent and the Loan Party or Loan Parties that are parties  thereto (except as otherwise expressly provided therein), in each case with the consent of the  Required Lenders (other than with respect to any amendment, modification or waiver  contemplated in clauses (i) through (xi) of this Section 9.02(b), which shall only require the  consent of the Lenders expressly set forth therein and not Required Lenders), provided that no  

 

  221    3141/80492-001 CURRENT/130883173v17  #95685245v21   such agreement shall (i) increase the Commitment of any Lender without the written consent of  such Lender (it being understood that a waiver of any condition precedent in Section 4.01 or  Section 4.02 of this Agreement or the waiver of any covenant, Default, Event of Default or  mandatory prepayment or reductions shall not constitute an increase of any Commitment of a  Lender), (ii) reduce or forgive the principal amount of any Loan or LC Disbursement owed to a  Lender or reduce the rate of interest thereon owed to such Lender, or reduce any fees or premiums  payable hereunder owed to such Lender, without the written consent of such Lender directly and  adversely affected thereby, provided that any waiver of Default or Event of Default or default  interest, waiver of a mandatory prepayment or any modification, waiver or amendment to the  financial covenant definitions or financial ratios or any component thereof in this Agreement shall  not constitute a reduction or forgiveness in the interest rates or the fees or premiums for purposes  of this clause (ii), (iii) except as otherwise provided hereunder, including without limitation  pursuant to Refinancing Amendments or Section 2.24, postpone the scheduled maturity of any  Loan, or the date of any scheduled repayment (but not prepayment) of the principal amount of any  Term Loan under Section 2.10 or the applicable Incremental Facility Amendment, or the required  date of reimbursement of any LC Disbursement, or any date for the payment of any interest, fees  or premiums payable hereunder, or reduce or forgive the amount of, waive or excuse any such  repayment (but not prepayment), or postpone the scheduled date of expiration of any Commitment,  without the written consent of each Lender directly and adversely affected thereby (it being  understood that no amendment, modification or waiver of, or consent to departure from, any  condition precedent, covenant, Default, Event of Default, waiver of default interest, mandatory  prepayment or mandatory reduction of the Commitments shall constitute a postponement of any  date scheduled for the payment of principal or interest or an extension of the final maturity of any  Loan or the scheduled termination date of any Commitment), (iv) change any of the provisions of  this Section 9.02(b) or reduce the percentage set forth in the definition of the term “Required  Lenders” or reduce the percentage in 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) (it being  understood that, other than as specifically provided in this Agreement, including pursuant to (v) the  Term Loan Exchange Notes, (w) Section 9.02(d) with respect to Replacement Term Loans, (x)  any Incremental Facility Amendment (the consent requirements for which are set forth in Section  2.20), (y) a Refinancing Amendment (the consent requirements for which are set forth in Section  2.21) and (z) an Extension Offer pursuant to Section 2.24, with the consent of the Required  Lenders, additional extensions of credit pursuant to this Agreement may be included in the  determination of the Required Lenders or a particular Class of Lenders on substantially the same  basis as the Term Loans and Revolving Commitments on the Amendment No. 3 Effective Date),  (vi) release all or substantially all of the value of the Guarantees under the Subsidiary Guaranty or  the Parent Guaranty (except as provided herein or in the applicable Loan Document), without the  written consent of each Lender, (vii) release all or substantially all the Collateral from the Liens  of the Security Documents (except as provided herein or in the applicable Loan Document),  without the written consent of each Lender (it being understood that any subordination of a lien  permitted hereunder shall not constitute a release of a lien under this section and the granting of  any pari passu liens in connection with the incurrence of debt or the granting of liens otherwise  permitted hereunder from time to time (including pursuant to amendments) shall not constitute a  release of liens), (viii) modify the provisions of Section 9.04(e) in a manner that adversely affects  

 

  222    3141/80492-001 CURRENT/130883173v17  #95685245v21   the protections afforded to an SPV pursuant to the provisions of Section 9.04(e), without the  written consent of each Granting Lender all or any part of whose Loans are being funded by an  SPV at the time of such amendment, modification or waiver, (ix) amend, waive or otherwise  modify any term or provision of Section 6.11, Section 7.01 (solely as it relates to Section 6.11) or  the definition of “Total Net Leverage Ratio” or “Consolidated Interest Coverage Ratio” (or any of  the component definitions (as used in such Section but not as used in other Sections of this  Agreement)) without the written consent of the Required Revolving Lenders and the Required  Tranche A Term Lenders, (x) decrease the amount of any mandatory prepayment to be received  by the Tranche A-1 Term Lenders and Tranche A-2 Term Lenders hereunder in a manner  disproportionately adverse to the interests of such Class in relation to the Lenders of any other  Class of Term Loans, in each case without the written consent of Lenders holding more than 50%  of the Tranche A-1 Term Loans and Tranche A-2 Term Loans, (xi) in connection with an  amendment that addresses solely a re-pricing transaction in which any Class of Term Loans is  refinanced with a replacement Class of term loans bearing (or is modified in such a manner such  that the resulting term loans bear) a lower Yield (a “Permitted Repricing Amendment”), only the  consent of the Lenders holding Term Loans subject to such permitted repricing transaction that  will continue as a Lender in respect of the repriced tranche of Term Loans or modified Term Loans,  (xii) change any of the provisions of Section 2.18(c) or Section 7.03 in a manner that would alter  the pro rata shares of payments required thereby or the order of application of funds set forth  therein without the written consent of each Lender directly and adversely affected thereby, and  (xiii) contractually subordinate the Obligations hereunder in right to payment, or the Liens granted  hereunder or under the other Loan Documents, to any other Indebtedness or Lien securing any  other Indebtedness or other obligations on all, substantially all or a substantial portion of the  Collateral (any such other Indebtedness, the “Senior Indebtedness”), unless each Lender directly  and adversely affected thereby has been offered a bona fide opportunity to fund or otherwise  provide its pro rata share (based on the amount of facilities that are adversely affected thereby held  by each Lender) of the Senior Indebtedness on the same terms (other than bona fide backstop,  agency or arrangement fees and reimbursement of counsel fees and other expenses in connection  with the negotiation of the terms of such transaction) as offered to all other providers (or their  Affiliates) of the Senior Indebtedness (other than to the extent otherwise permitted by the terms of  the Loan Documents as in effect on the Amendment No. 3 Effective Date and other than any  “debtor in-possession” facility or use of cash collateral in any insolvency proceeding permitted  under any applicable intercreditor agreement); provided, further, that no such agreement shall  directly adversely amend or modify the rights or duties of any Administrative Agent, the Collateral  Agent, the Swingline Lender or the Issuing Bank without the prior written consent of such  Administrative Agent, the Collateral Agent, the Swingline Lender or the Issuing Bank, as the case  may be.  In the event an amendment to this Agreement or any other Loan Document is effected  without the consent of each Administrative Agent or the Collateral Agent (to the extent permitted  hereunder) and to which any Administrative Agent or the Collateral Agent is not a party, the  Borrowers shall furnish a copy of such amendment to such Administrative Agent.   Notwithstanding the foregoing, no Lender consent is required to effect any amendment,  modification or supplement to any intercreditor agreement or arrangement permitted under this  Agreement or in any document pertaining to any Indebtedness permitted hereby that is permitted  to be secured by the Collateral, including any Incremental Term Loan or Incremental Revolving  Loan, any Other Term Loan, Other Revolving Loan or Other Revolving Commitments, Extended  Term Loans, Extended Revolving Loans, or any Additional Term Notes, Unrestricted Additional  

 

  223    3141/80492-001 CURRENT/130883173v17  #95685245v21   Term Notes, Refinancing Notes, Term Loan Exchange Notes and Permitted First Priority  Replacement Debt or Permitted Second Priority Replacement Debt, for the purpose of adding the  holders of such Indebtedness (or their senior representative) as a party thereto and otherwise  causing such Indebtedness to be subject thereto, in each case as contemplated by the terms of such  intercreditor agreement or arrangement permitted under this Agreement, as applicable, together  with (A) any immaterial changes and (B) material changes thereto in light of prevailing market  conditions, which material changes shall be posted to the Lenders and, unless the Required Lenders  shall have objected in writing to such changes within five (5) Business Days after such posting,  then the Required Lenders shall be deemed to have agreed that the Collateral Agent’s entering into  such intercreditor agreement (with such changes) is reasonable and to have consented to such  intercreditor agreement (with such changes) and to the Collateral Agent’s execution thereof, in  each case in form and substance reasonably satisfactory to the Collateral Agent (it being  understood that junior Liens are not required to be pari passu with other junior Liens, and that  Indebtedness secured by junior Liens may be secured by Liens that are pari passu with, or junior  in priority to, other Liens that are junior to the Liens securing the Obligations).  (c) In connection with any proposed amendment, modification, waiver or termination  (a “Proposed Change”) requiring the consent of all Lenders or all directly and adversely affected  Lenders, if the consent of the Required Lenders (and, to the extent any Proposed Change requires  the consent of Lenders holding Loans of any Class pursuant to clause (iv), (ix) or (x) of paragraph  (b) of this Section 9.02, the consent of a majority in interest of the outstanding Loans and unused  Commitments of such Class) (or, in the case of a consent, waiver or amendment involving directly  and adversely affected Lenders, at least 50.1% of such directly and adversely affected Lenders) to  such Proposed Change is obtained, but the consent to such Proposed Change of other Lenders  whose consent is required is not obtained (any such Lender whose consent is not obtained as  described in paragraph (b) of this Section 9.02 being referred to as a “Non-Consenting Lender”),  then, the applicable Borrower may, at its sole expense and effort, upon notice to such Non- Consenting Lender and the applicable Administrative Agent, (i) require such Non-Consenting  Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions  contained in Section 9.04), all its interests, rights and obligations under this Agreement to an  assignee that shall assume such obligations (which assignee may be another Lender, if a Lender  accepts such assignment), provided that (a) such Non-Consenting Lender shall have received  payment of an amount equal to the outstanding principal of its Loans and participations in LC  Disbursements, accrued interest thereon, accrued fees and all other amounts payable to it hereunder  from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the  applicable Borrower (in the case of all other amounts), (b) the applicable Borrower or such  assignee shall have paid to the applicable Administrative Agent the processing and recordation fee  specified in clause (b)(ii) of Section 9.04 and (c) such assignee shall have consented to the  Proposed Change or (ii) terminate the Commitment of such Lender or Issuing Bank, as the case  may be, and (1) in the case of a Lender (other than an Issuing Bank), repay all Obligations of the  applicable Borrower due and owing to such Lender relating to the Loans and participations held  by such Lender as of such termination date and (2) in the case of an Issuing Bank, repay all  Obligations of the applicable Borrower owing to such Issuing Bank relating to the Loans and  participations held by the Issuing Bank as of such termination date and cancel or backstop on terms  satisfactory to such Issuing Bank any Letters of Credit issued by it; provided that in the case of  any such termination of a Non-Consenting Lender such termination shall be sufficient (together  

 

  224    3141/80492-001 CURRENT/130883173v17  #95685245v21   with all other consenting Lenders and terminated Lenders after giving effect hereto) to cause the  adoption of the applicable departure, waiver or amendment of the Loan Documents.  (d) Notwithstanding the foregoing, this Agreement may be amended (or amended and  restated) solely with the written consent of the applicable Administrative Agent, the Borrowers  and the Lenders providing the relevant Replacement Term Loans (as such term is defined below)  to permit the refinancing of all or any portion of any Class of Term Loans outstanding as of the  applicable date of determination (the “Refinanced Term Loans”) with a replacement term loan  tranche hereunder (the “Replacement Term Loans”), provided that (i) the aggregate principal  amount of such Replacement Term Loans shall not exceed the aggregate principal amount of such  Refinanced Term Loans plus premiums, accrued interest, fees and expenses in connection  therewith, (ii) the Applicable Margin for such Replacement Term Loans shall not be higher than  the Applicable Margin for such Refinanced Term Loans, unless the any such higher Applicable  Margin applies after the applicable Term Loan Maturity Date, (iii) the Weighted Average Life to  Maturity and final maturity of such Replacement Term Loans shall not be shorter than the  Weighted Average Life to Maturity and final maturity of such Refinanced Term Loans at the time  of such refinancing (without giving effect to nominal amortization for periods where amortization  has been eliminated as a result of a prepayment of the applicable Refinanced Term Loans), (iv) the  mandatory prepayment and optional prepayment provisions of the Replacement Term Loans shall  not require more than pro rata payments and may permit optional prepayments and mandatory  prepayments to be paid in respect of the Term Loans not constituting Refinanced Term Loans, and  (v) the covenants, events of default and guarantees shall be not materially more restrictive (taken  as a whole) (as determined in good faith by the Borrowers) to the Lenders providing such  Replacement Term Loans than the covenants, events of default and guarantees applicable to such  Refinanced Term Loans, except to the extent necessary to provide for covenants, events of default  and guarantees applicable to any period after the maturity date in respect of the Refinanced Term  Loans in effect immediately prior to such refinancing.  (e) The Lenders, the Swingline Lender and the Issuing Bank, and all other Secured  Parties hereby irrevocably agree that the Liens granted to the Collateral Agent by the Loan Parties  on any Collateral shall, at the sole cost and expense of the Borrowers, be automatically released  (i) upon the occurrence of the Termination Date of this Agreement, (ii) upon the sale or other  disposition of such Collateral (as part of or in connection with any other sale or other disposition  permitted hereunder) to any Person other than another Loan Party or in connection with the  designation of any Restricted Subsidiary as an Unrestricted Subsidiary, to the extent such sale or  other disposition is made in compliance with the terms of this Agreement, (iii) to the extent such  Collateral is comprised of property leased to a Loan Party, (iv) if the release of such Lien is  approved, authorized or ratified in writing by the Required Lenders (or such other percentage of  the Lenders whose consent may be required in accordance with this Section 9.02), (v) to the extent  such property constitutes Excluded Property, (vi) to the extent the property constituting such  Collateral is owned by any Subsidiary Loan Party, upon the release of such Subsidiary Loan Party  from its obligations under the Subsidiary Guaranty (in accordance with the following sentence) to  the extent such release of a Subsidiary Loan Party is made in compliance with the terms of this  Agreement and (vii) as required to effect any sale or other disposition of Collateral in connection  with any exercise of remedies of the Collateral Agent pursuant to the Loan Documents.  Any such  release shall not in any manner discharge, affect, or impair the Obligations or any Liens (other  

 

  225    3141/80492-001 CURRENT/130883173v17  #95685245v21   than those being released) upon (or obligations (other than those being released) of the Loan Parties  in respect of) all interests retained by the Loan Parties, including the proceeds of any sale, all of  which shall continue to constitute part of the Collateral except to the extent comprised of Excluded  Property or otherwise released in accordance with the provisions of the Loan Documents.   Additionally, the Lenders, Issuing Bank, and all other Secured Parties, hereby irrevocably agree  that each Subsidiary Loan Party shall be released from the Subsidiary Guaranty upon  consummation of any transaction permitted hereunder resulting in such Subsidiary ceasing to  constitute a Restricted Subsidiary.  The Lenders, Issuing Bank, and all other Secured Parties,  hereby authorize the Administrative Agents and the Collateral Agent, as applicable, to execute and  deliver any instruments, documents, and agreements necessary or desirable to evidence and  confirm the release of any Loan Party’s Guarantee under the Subsidiary Guaranty or its Collateral  pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of  any Lender, Issuing Bank or other Secured Party.  (f) No Defaulting Lender shall have any right to approve or disapprove any  amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its  terms requires the consent of all Lenders or each affected Lender may be effected with the consent  of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any  Defaulting Lender may not be increased or extended without the consent of such Lender and  (y) any waiver, amendment or modification requiring the consent of all Lenders pursuant to  Sections 9.02(b)(v) or 9.02(b)(vi) or each directly and adversely affected Lender pursuant to  Sections 9.02(b)(ii) or 9.02(b)(iii) that, by its terms, adversely affects any Defaulting Lender  disproportionately in relation to other affected Lenders shall require the consent of such Defaulting  Lender.  (g) This Agreement may be amended (or amended and restated) solely with the  written consent of the Required Lenders and the Borrowers (a) to add one or more additional credit  facilities to this Agreement and to permit the extensions of credit from time to time outstanding  thereunder and the accrued interest and fees in respect thereof to share ratably in the benefits of  this Agreement and the other Loan Documents with the Term Loans and the Revolving Loans and  the accrued interest and fees in respect thereof and (b) to include appropriately the Lenders holding  such credit facilities in any determination of the Required Lenders.  Further, each of the LC  Sublimit and the Alternative Currency LC Sublimit may be increased with the consent of the  Required Revolving Lenders, each Issuing Bank and the Revolving Facility Administrative Agent.  (h) Any waiver, amendment or modification of any Loan Document that by its terms  affects only the rights or duties under the Loan Documents of Lenders holding Loans or  Commitments under a particular Class (but not the Lenders holding Loans or Commitments under  any other Class) may only be effected by an agreement or agreements in writing entered into by  the Company and the requisite percentage in interest of such affected Lenders that would be  required to consent thereto under this Section 9.02 if such Class were the only Class hereunder at  the time  (i) Notwithstanding the foregoing, this Agreement and any other Loan Document  may be amended solely with the consent of the Administrative Agents and the Borrowers without  the need to obtain the consent of any other Lender if such amendment is delivered in order to  correct or cure (x) ambiguities, errors, omissions, defects, (y) to effect administrative changes of  

 

  226    3141/80492-001 CURRENT/130883173v17  #95685245v21   a technical or immaterial nature or (z) incorrect cross references or similar inaccuracies in this  Agreement or the applicable Loan Document, in each case and the same is not objected to in  writing by the Required Lenders within five (5) Business Days following receipt of notice thereof.  Guarantees, collateral documents, security documents, intercreditor agreements, and related  documents executed in connection with this Agreement may be in a form reasonably determined  by the Administrative Agents or the Collateral Agent, as applicable, and may be amended,  modified, terminated or waived, and consent to any departure therefrom may be given, without the  consent of any Lender if such amendment, modification, waiver or consent is given in order to  (x) comply with local law or advice of counsel or (y) cause such guarantee, collateral document,  security document or related document to be consistent with this Agreement and the other Loan  Documents.  The Borrowers and the Administrative Agents may, without the consent of any other  Lender, effect amendments to this Agreement and the other Loan Documents as may be necessary  in the reasonable opinion of the Borrowers and the Administrative Agents to effect the provisions  of Section 2.20, Section 2.21, and Section 2.24.  Section 9.03 Expenses; Indemnity; Damage Waiver. (a) The U.S. Borrower  shall pay within thirty (30) days after receipt of reasonably detailed documentation therefor, (i)  all reasonable and documented out-of-pocket expenses incurred by each Administrative Agent  and the Collateral Agent, including the reasonable and documented fees, charges and  disbursements of a single outside counsel for the Administrative Agents and the Collateral  Agent, taken as a whole (in addition to one local counsel in each relevant jurisdiction), in  connection with the preparation and administration of the Loan Documents and not paid on the  Restatement Date or any amendments, modifications or waivers of the provisions thereof  (whether or not the transactions contemplated thereby shall be consummated), (ii) all reasonable  and documented out-of-pocket expenses incurred by the Issuing Bank in connection with the  issuance, amendment, renewal or extension of any Letter of Credit and (iii) all reasonable and  documented out-of-pocket expenses incurred by each Administrative Agent and the Collateral  Agent, including the reasonable fees, charges and disbursements of a single outside counsel for  the Administrative Agents, the Collateral Agent, the Issuing Bank, the Lenders, and other  Secured Parties (in addition to a single local counsel in each jurisdiction, and in the event a  conflict of interest arises, one additional primary counsel for the conflicted parties (taken as a  whole)) in connection with the enforcement of any rights under this Agreement or any other  Loan Documents, including rights under this Section, or in connection with the Loans made or  Letters of Credit issued hereunder; provided, the U.S. Borrower shall not be obligated to pay for  any third party advisor or consultants (in addition to those set forth in the immediately preceding  clause (iii)), except following an Event of Default with respect to which the Required Lenders  have accelerated the Loans or are pursing remedies, in which case the U.S. Borrower shall pay  the reasonable and documented out-of-pocket expenses of one additional advisor to the extent  the U.S. Borrower has provided its prior written consent (in its sole discretion).  (b) Without duplication of the expense reimbursement obligations pursuant to  paragraph (a) above, the U.S. Borrower shall indemnify each Administrative Agent, the Collateral  Agent, the other Agents, the Joint Lead Arrangers, Joint Bookrunners, Documentation Agents and  Syndication Agents, the Swingline Lender, the 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 reasonable and documented out-of-pocket  

 

  227    3141/80492-001 CURRENT/130883173v17  #95685245v21   costs, losses, claims, damages, actual liabilities and related expenses, excluding in any event lost  profits, but (x) including the reasonable and documented fees, charges and disbursements of a  single outside counsel for the Indemnitees (in addition to one local counsel in each relevant  jurisdiction and, in the event a conflict of interest arises, one additional counsel (plus local counsel  in each relevant material jurisdiction) for the conflicted Indemnitees (taken as a whole)) and (y)  excluding (i) any allocated costs of in-house counsel and (ii) any third party or consultants (in  addition to those set forth in the immediately preceding clause (x)), except in the case of this clause  (y)(ii) following an Event of Default with respect to which the Required Lenders have accelerated  the Loans or are pursing remedies, in which case the U.S. Borrower shall pay the reasonable and  documented out-of-pocket expenses of one additional advisor to the extent the U.S. Borrower has  provided its prior written consent (in its sole discretion), incurred by or asserted against any  Indemnitee by any third party or by the U.S. Borrower or any Restricted Subsidiary arising out of,  in connection with, or as a result of (i) the execution or delivery of any Loan Document or any  other agreement or instrument contemplated thereby, the performance by the parties to the Loan  Documents of their respective obligations thereunder or the consummation of the Transactions or  any other transactions contemplated thereby and (ii) any actual or alleged presence or Release of  Hazardous Materials involving or attributable to the U.S. Borrower or any of its Restricted  Subsidiaries, whether or not any such Indemnitee shall be designated as a party or a potential party  thereto and whether or not such matter is initiated by the U.S. Borrower or any of its respective  Affiliates or shareholders, and any fees or expenses incurred by Indemnitees in enforcing this  indemnity (collectively, the “Indemnified Liabilities”), provided that, no Indemnitee will be  indemnified (a) for its (or any of its affiliate’s or any of its officers’, directors’, members’,  employees’, agents’, representatives’ and controlling persons’) willful misconduct, bad faith or  gross negligence (to the extent determined in a final non-appealable order of a court of competent  jurisdiction), (b) for its (or any of its affiliate’s or any of its officers’, directors’, employees’,  agents’, representative’s and controlling persons’) material breach of its obligations under the Loan  Documents (to the extent determined in a final non-appealable order of a court of competent  jurisdiction), (c) for any dispute among Indemnitees that does not involve an act or omission by  the U.S. Borrower or any Restricted Subsidiary (other than any claims against an Agent, a Joint  Lead Arranger, a Joint Bookrunner, a Documentation Agent or a Syndication Agent in their  capacity as such and subject to clause (a) above), (d) in its capacity as a financial advisor of the  U.S. Borrower or its subsidiaries in connection with any potential acquisition or as a co-investor  in any potential acquisition or (e) any settlement effected without the U.S. Borrower’s prior written  consent, but if settled with the U.S. Borrower’s prior written consent (not to be unreasonably  withheld or delayed) or if there is a final judgment against an Indemnitee in any such proceedings,  the U.S. Borrower will indemnify and hold harmless each Indemnitee from and against any and  all actual losses, claims, damages, liabilities and expenses by reason of such settlement or  judgment in accordance with this Section; provided further that (1) the U.S. Borrower shall not  have any obligation to any Indemnitee under this Section 9.03 that is a Defaulting Lender or that  is an Indemnitee by virtue of being a Related Party of a Defaulting Lender for any Indemnified  Liabilities arising from such Defaulting Lender’s failure to fund its Commitment and (2) to the  extent of any amounts paid to an Indemnitee in respect of this Section 9.03 for Indemnified  Liabilities, such Indemnitee, by its acceptance of the benefits hereof, agrees to refund and return  any and all amounts paid by the U.S. Borrower to it if, pursuant to operation of any of the foregoing  clauses (a) through (e), such Indemnitee was not entitled to receipt of such amount.  

 

  228    3141/80492-001 CURRENT/130883173v17  #95685245v21   (c) To the extent that a Borrower fails to pay any amount required to be paid by it to  any Administrative Agent, the Collateral Agent, the Swingline Lender or the Issuing Bank under  paragraph (a) or (b) of this Section, and without limiting such Borrower’s obligation to do so, each  Lender severally agrees to pay to the applicable Administrative Agent, the Collateral Agent, the  Swingline Lender or the Issuing Bank, 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  the applicable Administrative Agent, the Collateral Agent, the Swingline Lender or the Issuing  Bank in its capacity as such.  For purposes hereof, a Lender’s “pro rata share” shall be determined  based upon (i) in the case of unpaid amounts owing to the Revolving Facility Administrative  Agent, its share of the aggregate Revolving Exposures and unused Revolving Commitments at the  time, (ii) in the case of unpaid amounts owing to the Tranche A Term Loan Administrative Agent,  its share of the outstanding Tranche A-1 Term Loans and Tranche A-2 Term Loans and unused  Tranche A-1 Term Commitments and Tranche A-2 Term Commitments at the time and (iii) in the  case of unpaid amounts owing to the Issuing Bank in respect of any Letter of Credit, its share of  the aggregate U.S. Revolving Exposure and unused Revolving Commitments at such time.  The  obligations of the Lenders under this paragraph (c) are subject to the last sentence of Section  2.02(a) (which shall apply mutatis mutandis to the Lenders’ obligations under this paragraph (c)).  (d) To the extent permitted by applicable law, none of the Borrowers, any Agent, any  Lender, the Swingline Lender, the Issuing Bank, any other party hereto or any Indemnitee shall  assert, and each such Person hereby waives and releases, any claim against any other such Person,  on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to  direct or actual damages) (whether or not the claim therefor is based on contract, tort or duty  imposed by any applicable legal requirement) arising out of, in connection with, arising out of, as  a result of, or in any way related to, this Agreement or any agreement or instrument contemplated  hereby or referred to herein, the transactions contemplated hereby or thereby, or any act or  omission or event occurring in connection therewith, and each such Person further agrees not to  sue upon any such claim or any such damages, whether or not accrued and whether or not known  or suspected to exist in its favor; provided that the foregoing shall in no event limit the U.S.  Borrower’s indemnification obligations under clause (b) above.  (e) In case any proceeding is instituted involving any Indemnitee for which  indemnification is to be sought hereunder by such Indemnitee, then such Indemnitee will promptly  notify the U.S. Borrower of the commencement of any proceeding; provided, however, that the  failure to do so will not relieve the U.S. Borrower from any liability that it may have to such  Indemnitee hereunder, except to the extent that the U.S. Borrower is materially prejudiced by such  failure.  Notwithstanding the above, following such notification, the U.S. Borrower may elect in  writing to assume the defense of such proceeding, and, upon such election, the U.S. Borrower will  not be liable for any legal costs subsequently incurred by such Indemnitee (other than reasonable  costs of investigation and providing evidence) in connection therewith, unless (i) the U.S.  Borrower has failed to provide counsel reasonably satisfactory to such Indemnitee in a timely  manner, (ii) counsel provided by the U.S. Borrower reasonably determines its representation of  such Indemnitee would present it with a conflict of interest or (iii) the Indemnitee reasonably  determines that there are actual conflicts of interest between the U.S. Borrower and the Indemnitee,  

 

  229    3141/80492-001 CURRENT/130883173v17  #95685245v21   including situations in which there may be legal defenses available to the Indemnitee which are  different from or in addition to those available to the U.S. Borrower.  (f) Notwithstanding anything to the contrary in this Agreement, no party hereto or  any Indemnitee shall be liable for any damages arising from the use by others of information or  other materials obtained through electronic, telecommunications or other information transmission  systems (including IntraLinks or SyndTrak Online), in each case, except to the extent any such  damages are found in a final non-appealable judgment of a court of competent jurisdiction to have  resulted from the gross negligence, bad faith or willful misconduct of, or material breach of this  Agreement or the other Loan Documents by, such Indemnitee (or its officers, directors, employees,  Related Parties or Affiliates).  (g) Except to the extent otherwise expressly provided herein, all amounts due under  this Section shall be payable within thirty (30) days after receipt by the U.S. Borrower of  reasonably detailed documentation therefor.  (h) This Section 9.03 shall not apply to Taxes, except for Taxes which represent costs,  losses, claims, etc. with respect to a non-Tax claim.  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 the Issuing Bank that issues any Letter of Credit), except that (i) except as otherwise  permitted herein, a Borrower may not assign or otherwise transfer any of its rights or obligations  hereunder without the prior written consent of each Lender (and any such attempted assignment  or transfer by a Borrower 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 (and any attempted assignment or transfer by such Lender otherwise shall be null and  void).  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 the Issuing Bank that issues any Letter of Credit), Participants (solely  to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated  hereby, the Related Parties of each of the Administrative Agents, the Issuing Bank and the  Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.  (b) (i) Subject to the express 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) the applicable Borrower, provided that no consent of such Borrower shall be  required for an assignment of all or any portion of a Loan or Commitment to a Lender, an Affiliate  of a Lender or an Approved Fund (as defined below), or if an Event of Default under Sections  7.01(a), 7.01(b), 7.01(h) or 7.01(i) has occurred and is continuing, any other assignee and provided  that such Borrower shall be deemed to have consented to any such assignment unless such  Borrower shall object thereto by written notice to the applicable Administrative Agent within ten  (10) Business Days after a Responsible Officer of such Borrower having received written notice  

 

  230    3141/80492-001 CURRENT/130883173v17  #95685245v21   thereof, (B) the applicable Administrative Agent, provided that no consent of any Administrative  Agent shall be required for an assignment of all or any portion of a Loan or Commitment to a  Lender or an Affiliate of a Lender, and (C) in the case of any assignment of a Revolving  Commitment, each Issuing Bank, provided that no consent of any Issuing Bank shall be required  for any assignment of a Term Loan.   Assignments shall be subject to the following additional express  conditions: (A) except in the case of an assignment to a Lender or an Affiliate of a Lender,  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 applicable Administrative Agent) shall  not be less than $5,000,000 or, in the case of a Term Commitment or a Term Loan,  $1,000,000) (it being understood and agreed that such minimum amount shall be  aggregated for two or more simultaneous assignments by or to two or more Approved  Funds), unless the applicable Borrower and the applicable Administrative Agent otherwise  consent (such consent not to be unreasonably withheld or delayed), provided that no such  consent of such Borrower shall be required if an Event of Default under Section 7.01(a),  7.01(b), 7.01(h) or 7.01(i) has occurred and is continuing, (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 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 (1) execute and deliver to the applicable Administrative Agent an  Assignment and Assumption, via an electronic settlement system acceptable to the  applicable Administrative Agent or (2) if previously agreed with the applicable  Administrative Agent, manually execute and deliver to such Administrative Agent an  Assignment and Assumption, together with a processing and recordation fee of $3,500  (which fee may be waived or reduced in the sole discretion of such Administrative Agent),  provided that assignments made pursuant to Section 2.19 or Section 9.02(c) shall not  require the signature of the assigning Lender to become effective, (D) the assignee, if it  shall not be a Lender (or, if the assignment relates to the U.K. Borrower, if the assignee is  not already a Lender to the U.K. Borrower), shall deliver to the applicable Administrative  Agent an Administrative Questionnaire (in which the assignee designates one or more  credit contacts to whom all syndicate-level information (which may contain material non- public information about the Loan Parties and their Related Parties or their respective  securities) will be made available and who may receive such information in accordance  with the assignee’s compliance procedures and applicable laws, including Federal and state  securities laws) and any tax forms and information required by Section 2.17(f) and (E)  Tranche A-1 Term Loans shall not be assigned by any assignor to any assignee without  also assigning a ratable interest in the assignor’s Tranche A-2 Term Loans and Tranche A- 2 Term Loans shall not be assigned by any assignor to any assignee without also assigning  a ratable interest in the assignor’s Tranche A-1 Term Loans.   For purposes of paragraph (b) of this Section, the terms “Approved Fund” and  “CLO” have the following meanings:  

 

  231    3141/80492-001 CURRENT/130883173v17  #95685245v21   “Approved Fund” means (a) a CLO and (b) with respect to any Lender that is a  fund that invests in bank loans and similar extensions of credit, any other fund that invests in bank  loans and similar extensions of credit and is managed by the same investment advisor as such  Lender or by an Affiliate of such investment advisor.  “CLO” means an entity (whether a corporation, partnership, trust or otherwise) that  is engaged in making, purchasing, holding or otherwise investing in bank loans and similar  extensions of credit in the ordinary course and is administered or managed by a Lender or an  Affiliate of such Lender.  (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(v) 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 Section 2.15,  Section 2.16, Section 2.17 and Section 9.03 and to any fees payable hereunder that have  accrued for such Lender’s account but have not yet been paid).  (iv) The applicable Administrative Agent, acting for this purpose as an agent of  the applicable Borrower, shall maintain at one of its offices 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 and related interest amounts 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  manifest error, and the applicable Borrower, the applicable Administrative Agent, the  Issuing Bank 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 applicable Borrower, the Issuing Bank and, with respect to its own  interests only, any Lender, at any reasonable time and from time to time upon reasonable  prior notice.  This Section 9.04(b)(iv) shall be construed so that the Loans and  unreimbursed LC Disbursements are at all times maintained in “registered form” within  the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code.  (v) Upon its receipt of a duly completed Assignment and Assumption  executed  by an assigning Lender and an assignee, the assignee’s completed Administrative  Questionnaire and any tax forms and information required by Section 2.17(f), as applicable  (unless the assignee shall already be a Lender hereunder), the processing and recordation  fee referred to in paragraph (b) of this Section (to the extent required) and any written  consent to such assignment required by paragraph (b) of this Section, the applicable  Administrative Agent shall accept such Assignment and Assumption and record the  information contained therein in the Register.  No assignment shall be effective for  

 

  232    3141/80492-001 CURRENT/130883173v17  #95685245v21   purposes of this Agreement unless it has been recorded in the Register as provided in this  paragraph.  (vi) The words “execution,” “signed,” “signature” and words of like import in  any Assignment and Assumption or in any amendment or other modification hereof  (including waivers and consents) shall be deemed to include electronic signatures or the  keeping of records in electronic form, each of which shall be of the same legal effect,  validity or enforceability as a manually executed signature or the use of a paper-based  recordkeeping system, as the case may be, to the extent and as provided for in any  applicable law, including the Federal Electronic Signatures in Global and National  Commerce Act, the New York State Electronic Signatures and Records Act or any other  similar state laws based on the Uniform Electronic Transactions Act.  (c) Any Lender may, without the consent of the Borrowers, the Administrative  Agents, the Issuing Bank or the Swingline Lender, sell participations to any Person (other than a  natural person, any Defaulting Lender, any Direct Competitor or Disqualified Lender to the extent  the lists thereof have been made available to the Lenders) (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 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, (C) the Borrowers, the Administrative  Agents, the Issuing Bank 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 and (D) such  Participant shall not be entitled to exercise any rights of a Lender under the Loan Documents.  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 the Loan Documents and to approve any  amendment, modification or waiver of any provision of the Loan Documents, 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 clause (ii), (iii), (v) or  (vi) of the first proviso to Section 9.02(b) that directly or adversely affects such Participant.   Subject to the paragraph below, the Borrowers agree that each Participant shall be entitled to the  benefits of Section 2.15 and Section 2.17 (subject to the limitations and requirements of such  Sections, including Section 2.17(f) and Section 2.19 (it being understood that the U.S. tax  documentation required by Section 2.17(f) shall be delivered to the participating Lender)) 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 in respect of a Loan extended to the U.K. Borrower: (1) the  Participant shall only be entitled to the benefits of Section 2.17(a) if the effect of the participation  is to make the Participant the beneficial owner for relevant tax purposes of the interest paid by the  U.K. Borrower; and (2) Section 2.17(j) shall apply mutatis mutandis as if references to an  assignment in that Section included a participation.  Each Lender that sells a participation shall,  acting solely for this purpose as a non-fiduciary agent of the applicable Borrower, 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 the obligation to disclose all or a  portion of the Participant Register (including the identity of the Participant or any information  

 

  233    3141/80492-001 CURRENT/130883173v17  #95685245v21   relating to a Participant’s interest in any Loans or other obligations under any Loan Document) to  any Person except to the extent that such disclosure is necessary in connection with the U.K.  Borrower’s compliance with the U.K. withholding tax rules, a Tax audit or other proceeding to  establish that any loans are in registered form for U.S. federal income tax purposes.  The entries  in the Participant Register shall be conclusive absent manifest error, and the applicable Borrower  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.  This Section shall be construed so that the Loan Documents are at all times maintained  in “registered form” within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code.  A Participant shall not be entitled to receive any greater payment under Section 2.15 or Section  2.17 than the applicable Lender would have been entitled to receive with respect to the  participation sold to such Participant, except to the extent the right to a greater payment results  from a Change in Law after the Participant becomes a Participant or the sale of the participation  to such Participant is made with the applicable Borrower’s prior written consent.  (d) Any Lender may, without the consent of the applicable Borrower or the applicable  Administrative Agent, 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 other central bank and including  any pledge or assignment to any holders of obligations owed, or securities issued, by such Lender  (including to any trustee for, or any other representative of, such holders), 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.  (e) Notwithstanding anything to the contrary contained herein, any Lender (a  “Granting Lender”) may grant to a special purpose funding vehicle organized and administered by  such Granting Lender (an “SPV”), identified as such in writing from time to time by the Granting  Lender to the applicable Administrative Agent and the applicable Borrower, the option to provide  to the applicable Borrower all or any part of any Loan that such Granting Lender would otherwise  be obligated to make to the applicable Borrower pursuant to this Agreement, provided that (i)  nothing herein shall constitute a commitment by any SPV to make any Loan and (ii) if an SPV  elects not to exercise such option or otherwise fails to provide all or any part of such Loan, the  Granting Lender shall be obligated to make such Loan pursuant to the terms hereof.  The making  of a Loan by an SPV hereunder shall utilize the Commitment of the Granting Lender to the same  extent, and as if, such Loan were made by such Granting Lender.  Each party hereto hereby agrees  that no SPV shall be liable for any indemnity or similar payment obligation under this Agreement  (all liability for which shall remain with the Granting Lender).  In furtherance of the foregoing,  each party hereto hereby agrees (which agreement shall survive the termination of this Agreement)  that, prior to the date that is one year and one day after the payment in full of all outstanding  commercial paper or other senior indebtedness of any SPV, such party will not institute against,  or join any other Person in instituting against, such SPV any bankruptcy, reorganization,  arrangement, insolvency or liquidation proceedings under the laws of the United States or any  State thereof, provided that each Lender designating any SPV hereby agrees to indemnify and hold  harmless each other party hereto for any loss, cost, damage or expense arising out of its inability  

 

  234    3141/80492-001 CURRENT/130883173v17  #95685245v21   to institute such a proceeding against such SPV during such period of forbearance.  In addition,  notwithstanding anything to the contrary contained in this Section 9.04, any SPV may (i) with  notice to, but without the prior written consent of, the applicable Borrower and the applicable  Administrative Agent and without paying any processing fee therefor, assign all or a portion of its  interests in any Loans to the Granting Lender or to any financial institutions (consented to by the  applicable Borrower and the applicable Administrative Agent) other than Disqualified Lenders  providing liquidity or credit support to or for the account of such SPV to support the funding or  maintenance of Loans and (ii) subject to Section 9.13, disclose on a confidential basis any non- public information relating to its Loans to any rating agency, commercial paper dealer or provider  of any surety, guarantee or credit or liquidity enhancement to such SPV other than any Disqualified  Lender.  The applicable Borrower agrees that each SPV shall be entitled to the benefits of Section  2.15 and Section 2.17 (subject to the limitations and requirements of such Sections, including  Section 2.17(f), and Section 2.19) to the same extent as if it were a Lender and had acquired its  interest by assignment pursuant to paragraph (b) of this Section.  An SPV shall not be entitled to  receive any greater payment under Section 2.15 or Section 2.17 than the applicable Granting  Lender would have been entitled to receive with respect to the interest granted to such SPV, except  to the extent the grant to such SPV is made with the applicable Borrower’s prior written consent.  (f) No such assignment shall be made (A) to any Defaulting Lender or any of its  Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the  foregoing Persons described in this clause (A), or (B) to a natural person.  (g) In connection with any assignment of rights and obligations of any Defaulting  Lender hereunder, no such assignment shall be effective unless and until, in addition to the other  express conditions thereto set forth herein, the parties to the assignment shall make such additional  payments to the applicable Administrative Agent in an aggregate amount sufficient, upon  distribution thereof as appropriate (which may be outright payment, purchases by the assignee of  participations or subparticipations, or other compensating actions, including funding, with the  consent of the applicable Borrower and the applicable Administrative Agent, the applicable pro  rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which  the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all  payment liabilities then owed by such Defaulting Lender to the applicable Administrative Agent  or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate)  its full pro rata share of all Loans and participations in Letters of Credit in accordance with its  Applicable Percentage.  Notwithstanding the foregoing, in the event that any assignment of rights  and obligations of any Defaulting Lender hereunder shall become effective under applicable law  without compliance with the provisions of this paragraph, then the assignee of such interest shall  be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance  occurs.  (h) Disqualified Lenders and Direct Competitors.  The Borrowers and the Lenders  expressly acknowledge that each Administrative Agent (in its capacity as such or as an arranger,  bookrunner or other agent hereunder) shall not have any obligation to monitor whether  assignments or participations are made to Disqualified Lenders or Direct Competitors and none of  the Borrowers, the Lenders or any such Affiliate will bring any claim to such effect.  

 

  235    3141/80492-001 CURRENT/130883173v17  #95685245v21   Section 9.05 Survival.  All representations and warranties made by the Loan  Parties in the other Loan Documents and in the certificates or other instruments delivered in  connection with or pursuant to any 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 any  Administrative Agent, the Issuing Bank or any Lender may have had notice or knowledge of any  Default or incorrect representation or warranty at the time any credit is extended hereunder.  The  provisions of Sections 2.15, 2.16, 2.17 and 9.03 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; Electronic Execution.  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, and there are no  promises, undertakings, representations or warranties by the Borrowers, any Administrative  Agent, nor any Lender relative to the subject matter hereof not expressly set forth or referred to  herein or in the other Loan Documents.  Delivery of an executed counterpart of a signature page of (x) this Agreement, (y)  any other Loan Document and/or (z) any document, amendment, approval, consent, information,  notice, certificate, request, statement, disclosure or authorization related to this Agreement, any  other Loan Document and/or the transactions contemplated hereby and/or thereby (each an  “Ancillary Document”) that is an Electronic Signature transmitted by telecopy, emailed pdf. or  any other electronic means that reproduces an image of an actual executed signature page shall be  effective as delivery of a manually executed counterpart of this Agreement, such other Loan  Document or such Ancillary Document, as applicable.  The words “execution,” “signed,”  “signature,” “delivery,” and words of like import in or relating to this Agreement, any other Loan  Document and/or any Ancillary Document shall be deemed to include Electronic Signatures,  deliveries or the keeping of records in any electronic form (including deliveries by telecopy,  emailed pdf. or any other electronic means that reproduces an image of an actual executed  signature page), each of which shall be of the same legal effect, validity or enforceability as a  manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping  system, as the case may be; provided that nothing herein shall require the applicable  Administrative Agent to accept Electronic Signatures in any form or format without its prior  written consent and pursuant to procedures approved by it; provided, further, without limiting the  foregoing, (i) to the extent the applicable Administrative Agent has agreed to accept any Electronic  Signature, the applicable Administrative Agent and each of the Lenders shall be entitled to rely on  such Electronic Signature purportedly given by or on behalf of the Borrower or any other Loan  Party without further verification thereof and without any obligation to review the appearance or  form of any such Electronic signature and (ii) upon the request of the applicable Administrative  Agent or any Lender, any Electronic Signature  shall be promptly followed by a manually executed  

 

  236    3141/80492-001 CURRENT/130883173v17  #95685245v21   counterpart.  Without limiting the generality of the foregoing, the Borrower and each Loan Party  hereby (A) agrees that, for all purposes, including without limitation, in connection with any  workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among the  Administrative Agent, the Lenders and the Loan Parties, Electronic Signatures transmitted by  telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual  executed signature page and/or any electronic images of this Agreement,  any other Loan  Document and/or any Ancillary Document shall have the same legal effect, validity and  enforceability as any paper original, (B) the Administrative Agent and each of the Lenders may,  at its option, create one or more copies of this Agreement, any other Loan Document and/or any  Ancillary Document in the form of an imaged electronic record in any format, which shall be  deemed created in the ordinary course of such Person’s business, and destroy the original paper  document (and all such electronic records shall be considered an original for all purposes and shall  have the same legal effect, validity and enforceability as a paper record), (C) waives any argument,  defense or right to contest the legal effect, validity or enforceability of this Agreement, any other  Loan Document and/or any Ancillary Document based solely on the lack of paper original copies  of this Agreement, such other Loan Document and/or such Ancillary Document, respectively,  including with respect to any signature pages thereto and (D) waives any claim against any Lender- related Person for any losses, claims (including intraparty claims), demands, damages or liabilities  of any kind arising solely from the Administrative Agent’s and/or any Lender’s reliance on or use  of Electronic Signatures and/or transmissions by telecopy, emailed pdf. or any other electronic  means that reproduces an image of an actual executed signature page, including any losses, claims  (including intraparty claims), demands, damages or liabilities of any kind arising as a result of the  failure of the Borrower and/or any Loan Party to use any available security measures in connection  with the execution, delivery or transmission of any Electronic Signature.  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 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.  Without  limiting the foregoing provisions of this Section 9.07, if and to the extent that the enforceability  of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor  Relief Laws, as determined in good faith by the Administrative Agents or the Issuing Bank, as  applicable, then such provisions shall be deemed to be in effect only to the extent not so limited.  Section 9.08 Right of Setoff.  If an Event of Default shall have occurred and be  continuing, each Lender and Issuing Bank is hereby authorized at any time and from time to  time, after obtaining the prior written consent of the applicable Administrative Agent and the  Required Lenders, to set off and apply any and all deposits (general or special, time or demand,  provisional or final, in whatever currency, but not any tax accounts, trust accounts, withholding  or payroll accounts) at any time held and other obligations (in whatever currency) at any time  owing by such Lender or an Issuing Bank to or for the credit or the account of a Borrower against  any and all of the Obligations of such Borrower now or hereafter existing under this Agreement  held by such Lender or the Issuing Bank, but only to the extent then due and payable; provided  that in the event that any Defaulting Lender shall exercise any such right of setoff, (i) all amounts  so set off shall be paid over immediately to the applicable Administrative Agent for further  

 

  237    3141/80492-001 CURRENT/130883173v17  #95685245v21   application in accordance with the provisions of Section 2.22 and, pending such payment, shall  be segregated by such Defaulting Lender from its other funds and deemed held in trust for the  benefit of the applicable Administrative Agent and the Lenders and (ii) the Defaulting Lender  shall provide promptly to the applicable Administrative Agent a statement describing in  reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such  right of setoff.  The rights of each Lender and the Issuing Bank under this Section are in addition  to other rights and remedies (including other rights of setoff) that such Lender or Issuing Bank  may have.  Each Lender and the Issuing Bank agree promptly to notify the applicable Borrower  and the applicable Administrative Agent of such setoff and application made by such Lender,  provided that any failure to give or any delay in giving such notice shall not affect the validity  of any such setoff and application under this Section.  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, without regard to conflict of laws principles thereof to the extent such  principles would cause the application of the law of another state.  (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 any 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 in such New York State or, to the extent  permitted by law, in such federal court.  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.  Notwithstanding the foregoing,  nothing in any Loan Document shall affect any right that any Administrative Agent, the Collateral  Agent or any Lender may otherwise have to bring any action or proceeding relating to any Loan  Document against a Borrower or its property in the courts of any jurisdiction.  (c) Each of the parties hereto hereby irrevocably and unconditionally waives, to the  fullest extent it may legally and effectively do so, any objection that it may now or hereafter have  to the laying of venue of any suit, action or proceeding arising out of or relating to any 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 any Loan Document will affect the right  of any party to this Agreement to serve process in any other manner permitted by law.  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 ANY LOAN DOCUMENT OR  

 

  238    3141/80492-001 CURRENT/130883173v17  #95685245v21   THE TRANSACTIONS CONTEMPLATED 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.  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 Administrative Agents, the other  Agents, the Issuing Bank 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’ directors, trustees, officers, employees and agents, including accountants, legal  counsel and other advisors on a “need to know” basis (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, provided that the relevant Lender shall be  responsible for such compliance and non-compliance), (b) to the extent requested by any  regulatory authority, provided that, other than in connection with routine regulatory  examinations, prior notice shall have been given to the Borrowers, to the extent permitted by  applicable laws or regulations, (c) to the extent required by applicable laws or regulations or by  any subpoena or similar legal process, provided that prior notice shall have been given to the  Borrowers, to the extent permitted by applicable laws or regulations, (d) to any other party to  this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action  or proceeding relating to any Loan Document or the enforcement of rights thereunder, (f) subject  to an agreement containing provisions substantially the same as those of this Section, to (i) any  assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or  obligations under this Agreement, in each case, except to any Direct Competitor or Disqualified  Lender to the extent that a list thereof is made available to the Lenders, or (ii) any actual or  prospective Lender Counterparty to any Secured Swap Agreement relating to any Loan Party  and its obligations under the Loan Documents, in each case, except to any Direct Competitor or  Disqualified Lender, (g) with the written consent of the Borrowers, (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 the Administrative Agents, any other Agent, an Issuing Bank or any  Lender on a nonconfidential basis from a source other than the Borrowers (provided that the  source is not actually known (after due inquiry) by such disclosing party or other confidentiality  obligations owed to the Borrowers or their respective Affiliates, to be bound by an agreement  containing provisions substantially the same as those contained in this confidentiality provision),   (i) on a confidential basis to (x) any rating agency in connection with rating of the Borrowers or  the facilities hereunder or (y) the CUSIP Service Bureau, Clearpar or Loanserv or any similar  agency in connection with the issuance and monitoring of CUSIP numbers, settlement of  assignments or other general administrative functions with respect to the facilities and (j) to  market data collectors or similar service providers in connection with this Agreement.  For the  

 

  239    3141/80492-001 CURRENT/130883173v17  #95685245v21   purposes of this Section the term “Information” means all information received from or on behalf  of the Borrowers relating to the Borrowers or any of their respective Subsidiaries or any of its  respective businesses, other than any such information that is available to the Administrative  Agents, any other Agent, the Issuing Bank or any Lender on a nonconfidential basis prior to  disclosure by the Borrowers.  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.  Each Lender acknowledges that Information furnished to it pursuant to this  Agreement may include material non-public information concerning the Loan Parties and their  respective Related Parties or 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 those procedures and applicable law,  including federal and state securities laws.  All Information, including requests for waivers and amendments, furnished by the  Borrowers or any Administrative Agent pursuant to, or in the course of administering, this  Agreement will be syndicate-level Information, which may contain material non-public  information about the Loan Parties and their respective Related Parties or their respective  securities.  Accordingly, each Lender represents to the Borrowers and the Administrative Agents  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.  Section 9.13 Interest Rate Limitation.  Notwithstanding anything herein to the  contrary, if at any time the interest rate applicable to any Loan or participation in any LC  Disbursement, together with all fees, charges and other amounts that are treated as interest on  such Loan or LC Disbursement or participation therein under applicable law (collectively, the  “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) that may be  contracted for, charged, taken, received or reserved by the Lender holding such Loan or LC  Disbursement or participation therein 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 or LC Disbursement or participation therein  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 LC Disbursements or  participation therein or periods shall be increased (but not above the Maximum Rate therefor)  until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate  to the date of repayment, shall have been received by such Lender.  Section 9.14 USA Patriot Act.  Each Lender and Issuing Bank that is subject to  the Patriot Act (as hereinafter defined) and each Administrative Agent (for itself and not on  behalf of any Lender) hereby notifies the Loan Parties that pursuant to the requirements of the  USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot  Act”), it is required to obtain, verify and record information that identifies the Loan Parties,  which information includes the name and address of the Loan Parties and other information that  

 

  240    3141/80492-001 CURRENT/130883173v17  #95685245v21   will allow such Lender, such Issuing Bank or such Administrative Agent, as applicable, to  identify the Loan Parties in accordance with the Patriot Act.  Section 9.15 Direct Website Communication.  Each Borrower may, at its option,  provide to each of the Administrative Agents any information, documents and other materials  that it is obligated to furnish to the Administrative Agents pursuant to the Loan Documents,  including, without limitation, all notices, requests, financial statements, financial and other  reports, certificates and other information materials (all such communications being referred to  herein collectively as “Communications”), by (i) posting such documents, or providing a link  thereto, on the U.S. Borrower’s website, (ii) such documents being posted on such Borrower’s  behalf on an Internet or Intranet website, if any, to which each Administrative Agent has access  (whether a commercial third-party website or a website sponsored by the Administrative Agents)  or (iii) by transmitting the Communications in an electronic/soft medium to the applicable  Administrative Agent at an email address provided by such Administrative Agent from time to  time; provided that (i) promptly following written request by any Administrative Agent, such  Borrower shall continue to deliver paper copies of such documents to such Administrative Agent  for further distribution to each Lender until a written request to cease delivering paper copies is  given by such Administrative Agent and (ii) such Borrower shall notify (which may be by  facsimile or electronic mail) each Administrative Agent of the posting of any such documents.   Each Lender shall be solely responsible for timely accessing posted documents or requesting  delivery of paper copies of such documents from the applicable Administrative Agent and  maintaining its copies of such documents. Nothing in this Section 9.15 shall prejudice the right  of the Borrowers, the Administrative Agents, any other Agent or any Lender to give any notice  or other communication pursuant to any Loan Document in any other manner specified in such  Loan Document.   Each Administrative Agent agrees that the receipt of the Communications by such Administrative  Agent at its e-mail address in Section 9.01 shall constitute effective delivery of the  Communications to such Administrative Agent for purposes of the Loan Documents.  Each Lender  agrees that notice to it (as provided in the next sentence) specifying that the Communications have  been posted to the Platform shall constitute effective delivery of the Communications to such  Lender for purposes of the Loan Documents.  Each Lender agrees (A) to notify the Administrative  Agents in writing (including by electronic communication) from time to time of such Lender’s e- mail address to which the foregoing notice may be sent by electronic transmission and (B) that the  foregoing notice may be sent to such e-mail address.  Unless the Administrative Agents otherwise  prescribe, (i) notices and other communications sent to an e-mail address shall be deemed received  upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the  “return receipt requested” function, as available, return e-mail or other written acknowledgement),  provided that if such notice or other communication is not sent during the normal business hours  of the recipient, such notice or communication shall be deemed to have been sent at the opening  of business on the next Business Day for the recipient, and (ii) notices or communications posted  to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended  recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice  or communication is available and identifying the website address therefor.  

 

  241    3141/80492-001 CURRENT/130883173v17  #95685245v21   Each of the Borrowers, the Administrative Agents and the Issuing Bank may change its address,  telecopier or telephone number for notices and other communications hereunder by notice to the  other parties hereto.  Each other Lender may change its address, telecopier or telephone number  for notices and other communications hereunder by notice to the Borrowers, the Administrative  Agents and the Issuing Bank.  In addition, each Lender agrees to notify each Administrative Agent  from time to time to ensure that such Administrative Agent has on record (i) an effective address,  contact name, telephone number, telecopier number and electronic mail address to which notices  and other communications may be sent and (ii) accurate wire instructions for such Lender.   Section 9.16 Intercreditor Agreement Governs.  Each Lender and Agent  (a) hereby agrees that it will be bound by and will take no actions contrary to the provisions of  any intercreditor agreement entered into pursuant to the terms hereof, (b) hereby authorizes and  instructs the Collateral Agent to enter into each intercreditor agreement and any other  intercreditor agreement entered into pursuant to the terms hereof and to subject the Liens  securing the Secured Obligations to the provisions thereof and (c) hereby authorizes and instructs  the Collateral Agent to enter into any intercreditor agreement that includes, or to amend any then  existing intercreditor agreement to provide for, the terms described in the definition of the terms  “Permitted First Priority Replacement Debt” or “Permitted Second Priority Replacement Debt”  or “First Lien Senior Secured Note”, as applicable, or as otherwise provided for by the terms of  this Agreement; provided that in each case, such intercreditor agreement is substantially  consistent with the terms set forth on Exhibit K-1 or K-2 annexed hereto together with (A) any  immaterial changes and (B) material changes thereto in light of prevailing market conditions,  which material changes shall be posted to the Lenders and, unless the Required Lenders shall  have objected in writing to such changes within five (5) Business Days after such posting, then  the Required Lenders shall be deemed to have agreed that the Collateral Agent’s entering into  such intercreditor agreement (with such changes) is reasonable and to have consented to such  intercreditor agreement with such changes) and to the Collateral Agent’s execution thereof, in  each case in form and substance reasonably satisfactory to the Collateral Agent (it being  understood that junior Liens are not required to be pari passu with other junior Liens, and that  Indebtedness secured by junior Liens may be secured by Liens that are pari passu with, or junior  in priority to, other Liens that are junior to the Liens securing the Obligations).  Section 9.17 Judgment Currency.  If, for the purposes of obtaining judgment in  any court, it is necessary to convert a sum due hereunder or under any other Loan Document in  one currency into another currency, the rate of exchange used shall be that at which in accordance  with the normal banking procedures the Revolving Facility Administrative Agent could purchase  the first currency with such other currency on the Business Day preceding that on which final  judgment is given.  The obligation of each Borrower in respect of any such sum due from it to  the Revolving Facility Administrative Agent or the Lenders hereunder or under the other Loan  Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other  than that in which such sum is denominated in accordance with the applicable provisions of this  Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business  Day following receipt by the Revolving Facility Administrative Agent or the relevant Lender of  any sum adjudged to be so due in the Judgment Currency, the Revolving Facility Administrative  Agent or the relevant Lender may in accordance with the normal banking procedures purchase  the Agreement Currency with the Judgment Currency.  If the amount of the Agreement Currency  

 

  242    3141/80492-001 CURRENT/130883173v17  #95685245v21   so purchased is less than the sum originally due to the Revolving Facility Administrative Agent  or such Lender from a Borrower in the Agreement Currency, such Borrower agrees, as a separate  obligation and notwithstanding any such judgment, to indemnify the Revolving Facility  Administrative Agent, or the Person to whom such obligation was owing against such loss.  If  the amount of the Agreement Currency so purchased is greater than the sum originally due to  the Revolving Facility Administrative Agent or such Lender in such currency, the Revolving  Facility Administrative Agent or such Lender agrees to return the amount of any excess to such  Borrower (or to any other Person who may be entitled thereto under applicable law).  Section 9.18 No Advisory or Fiduciary Responsibility.  In connection with all  aspects of each transaction contemplated hereby (including in connection with any amendment,  waiver or other modification hereof or of any other Loan Document), the Borrowers  acknowledge and agree, and acknowledge their respective Affiliates’ understanding, that:   (i) (A) the arranging and other services regarding this Agreement provided by any  Administrative Agent, the other Agents, the Joint Lead Arrangers, the Joint Bookrunners, the  Documentation Agents and the Syndication Agents and the making of the Loans and  Commitments by the Lenders are arm’s-length commercial transactions between the Borrowers  and their respective Affiliates, on the one hand, and the Administrative Agents, the other Agents,  the Joint Lead Arrangers, the Joint Bookrunners, the Documentation Agents, the Syndication  Agents and the Lenders on the other hand, (B) the Borrowers have consulted their own legal,  accounting, regulatory and tax advisors to the extent they have deemed appropriate, and (C) the  Borrowers are capable of evaluating, and understands and accepts, the terms, risks and express  conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A)  each Administrative Agent, each other Agent, each Joint Lead Arranger, each Joint Bookrunner,  each Documentation Agent and each Syndication Agent and each Lender is and has been acting  solely as a principal and, except as expressly agreed in writing by the relevant parties, has not  been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrowers or any of  their respective Affiliates, or any other Person and (B) none of the Administrative Agents, any  other Agent, any Joint Lead Arranger, any Joint Bookrunner, any Documentation Agent, any  Syndication Agent or any Lender has any obligation to the Borrowers or any of their Affiliates  with respect to the transactions contemplated hereby except those obligations expressly set forth  herein and in the other Loan Documents; and (iii) the Administrative Agents, the other Agents,  the Joint Lead Arrangers, the Joint Bookrunners, the Documentation Agents, the Syndication  Agents and the Lenders their respective Affiliates may be engaged in a broad range of  transactions that involve interests that differ from those of the U.S. Borrower and its Affiliates,  and none of the Administrative Agents, any other Agent, any Joint Lead Arrangers, any Joint  Bookrunner, any Documentation Agent any Syndication Agent or any Lender has any obligation  to disclose any of such interests to the Borrowers or any of their Affiliates.  To the fullest extent  permitted by law, each of the Borrowers hereby waives and releases any claims that it may have  against any Administrative Agent, the other Agents, the Joint Lead Arrangers, the Joint  Bookrunners, the Documentation Agents, the Syndication Agents and the Lenders with respect  to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any  transaction contemplated hereby.  Section 9.19 Acknowledgement and Consent to Bail-In of Affected Financial  Institutions.  Notwithstanding anything to the contrary in any Loan Document or in any other  

 

  243    3141/80492-001 CURRENT/130883173v17  #95685245v21   agreement, arrangement or understanding among any such parties, each party hereto  acknowledges that any liability of any Affected 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 the applicable 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 the  applicable Resolution Authority to any such liabilities arising hereunder that may be payable to it  by any party hereto that is an Affected 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 cancellation of any such liability;  (ii) a conversion of all, or a portion of, such liability into shares or  other instruments of ownership in such Affected Financial Institution, its parent  undertaking, 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  the variation of the terms of such liability in connection with the exercise of the  write-down and conversion powers of the applicable Resolution Authority.   Section 9.20 Acknowledgement Regarding Any Supported QFCs.  (a) To the extent that the Loan Documents provide support, through a guarantee or  otherwise, for Swap Agreements or any other agreement or instrument that is a QFC (such support,  “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree  as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under  the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and  Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special  Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the  provisions below applicable notwithstanding that the Loan Documents and any Supported QFC  may in fact be stated to be governed by the laws of the State of New York and/or of the United  States or any other state of the United States):  (b) In the event a Covered Entity that is party to a Supported QFC (each, a “Covered  Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of  such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation  in or under such Supported QFC and such QFC Credit Support, and any rights in property securing  such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to  the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the  Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in  property) were governed by the laws of the United States or a state of the United States. In the  event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding  under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might  

 

  244    3141/80492-001 CURRENT/130883173v17  #95685245v21   otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against  such Covered Party are permitted to be exercised to no greater extent than such Default Rights  could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan  Documents were governed by the laws of the United States or a state of the United States. Without  limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with  respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect  to a Supported QFC or any QFC Credit Support.    Section 9.21 Amendment and Restatement.  Upon the occurrence of the  Restatement Date, (i) the Existing Credit Agreement shall be amended and restated in its entirety  by this Agreement, (ii) each of the commitments of the Existing Lenders under the Existing  Credit Agreement shall be terminated and, to the extent that such Persons constitute Lenders  hereunder, shall be replaced with their respective Commitments hereunder, (iii) any then existing  LC Exposure (as defined in the Existing Credit Agreement) of the Existing Lenders under the  Existing Credit Agreement shall be deemed to have been reallocated as LC Exposure (as defined  in this Agreement) among the Lenders hereunder in accordance with their Applicable  Percentages and (iv) all accrued and unpaid interest and fees (other than letter of credit fronting  fees, which shall continue to accrue) and other amounts owing under the Existing Credit  Agreement (except the principal amount of the Loans converted or continued thereunder) shall  have been paid by the U.S. Borrower under the Existing Credit Agreement, whether or not such  interest, fees or other amounts would otherwise be due and payable at such time pursuant to the  Existing Credit Agreement. The parties hereto acknowledge and agree that, except as otherwise  expressly provided herein, this Agreement and the other Loan Documents, whether executed and  delivered in connection herewith or otherwise, do not constitute a novation of the Obligations  under the Existing Credit Agreement or the other Loan Documents as in effect prior to the  Restatement Date and which remain outstanding as of the Restatement Date.   This amendment and restatement is limited as written and is not a consent to any  other amendment, restatement or waiver or other modification, whether or not similar and, except  as expressly provided herein or in any other Loan Document, all terms and conditions of the  other Loan Documents remain in full force and effect.Document

EXHIBIT 10.1
PIONEER NATURAL RESOURCES COMPANY
INDEMNIFICATION AGREEMENT
This Agreement (“Agreement”) is made and entered into as of the 14 day of July, 2022, by and between Pioneer Natural Resources Company, a Delaware corporation (the “Company”), and Christopher L. Washburn (“Indemnitee”).
RECITALS
A.    Highly competent and experienced persons are reluctant to serve corporations as directors, executive officers or in other capacities unless they are provided with adequate protection through insurance and indemnification against claims and actions against them arising out of their service to and activities on behalf of the Company.
B.    The Board of Directors of the Company (the “Board”) has determined that the inability to attract and retain such persons would be detrimental to the best interests of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future.
C.    The Board has also determined that it is reasonable, prudent and necessary for the Company, in addition to purchasing and maintaining directors’ and officers’ liability insurance (or otherwise providing for adequate arrangements of self-insurance), to contractually obligate itself to indemnify, hold harmless, and exonerate and to advance expenses on behalf of such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be adequately protected.
D.    Indemnitee is willing to serve, to continue to serve and to take on additional service for or on behalf of the Company on the condition that Indemnitee be so indemnified to the fullest extent permitted by law.
E.    Article Twelfth of the Amended and Restated Certificate of Incorporation of the Company (as it may be amended or restated from time to time, the “Certificate of Incorporation”) provides for indemnification of directors and officers to the fullest extent permitted by law.
F.    This Agreement is supplemental to and in furtherance of the Certificate of Incorporation and any resolutions adopted pursuant thereto, as well as any rights of Indemnitee under any directors’ and officers’ liability insurance policy, and this Agreement shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.
In consideration of the foregoing and the mutual covenants herein contained, and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereby agree as follows:

ARTICLE I

Certain Definitions
As used herein, the following words and terms shall have the following respective meanings (whether singular or plural):
“Change in Control” means the occurrence of any of the following events:
(i)    The acquisition by any Person of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 40% or more of either (x) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (y) the combined voting power of the then outstanding Voting Securities of the Company (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this Subparagraph (i), any acquisition by any corporation pursuant to a transaction that complies with clauses (A), (B) and (C) of paragraph (iii) below shall not constitute a Change of Control; or
(ii)    Members of the Incumbent Board cease for any reason to constitute at least a majority of the Board; or
(iii)    Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or an acquisition of assets of another entity (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common equity and the combined voting power of the then outstanding Voting Securities of the entity resulting from such Business Combination (including an entity that as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any employee benefit plan (or related trust) of the Company or the entity resulting from such Business Combination) beneficially owns, directly or indirectly, 40% or more of, respectively, the then outstanding shares of common equity of the entity resulting from such Business Combination or the combined voting power of the then outstanding Voting Securities of such entity except to the extent that such ownership results solely from ownership of the Company that existed prior to the Business Combination and (C) at least a majority of the members of the board of directors or other similar governing body of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or
(iv)    Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.
“Claim” means an actual or threatened claim or request for relief that was, is or may be made by reason of anything done or not done by Indemnitee in, or by reason of any event or occurrence related to, Indemnitee’s Corporate Status.
“Corporate Status” means the status of a person who is, becomes or was a director, officer, employee, agent or fiduciary of the Company or is, becomes or was serving at the request of the Company as a director, officer, partner, member, venturer, proprietor, trustee, employee, 
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agent, fiduciary or similar functionary of another foreign or domestic corporation, partnership, limited liability company, joint venture, sole proprietorship, trust, employee benefit plan or other enterprise.  For purposes of this Agreement, the Company agrees that Indemnitee’s service on behalf of or with respect to any Subsidiary of the Company shall be deemed to be at the request of the Company.
“DGCL” means the General Corporation Law of the State of Delaware and any successor statute thereto, as either of them may from time to time be amended.
“Disinterested Director” with respect to any request by Indemnitee for indemnification hereunder, means a director of the Company who at the time of the vote is not a named defendant or respondent in the Proceeding in respect of which indemnification is sought by Indemnitee.
“Exchange Act” means the Securities Exchange Act of 1934.
“Expenses” means all attorneys’ fees and disbursements, retainers, accountants’ fees and disbursements, private investigator fees and disbursements, other professionals’ fees and disbursements, court costs, transcript costs, fees and expenses of experts, witness fees and expenses, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, penalties and all other disbursements, costs or expenses of the types customarily incurred in connection with prosecuting, defending (including affirmative defenses and counterclaims), preparing to prosecute or defend, investigating, being or preparing to be a witness in, or participating in or preparing to participate in a Proceeding and all interest or finance charges attributable to any thereof.  Without limiting the foregoing, “Expenses” also shall include Expenses incurred in connection with any appeal resulting from any Proceeding (as defined below), including the principal, premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. Should any payments by the Company under this Agreement be determined to be subject to any federal, state or local income or excise tax, “Expenses” shall also include such amounts as are necessary to place Indemnitee in the same after-tax position (after giving effect to all applicable taxes) as Indemnitee would have been in had no such tax been determined to apply to such payments.  Also, in this Agreement “witness” includes responding (or objecting) to a discovery request, whether in writing or in an oral deposition, in any Proceeding.  
“Incumbent Board” means the individuals who, as of the date of this Agreement, constitute the Board and any other individual who becomes a director of the Company after that date and whose election or appointment by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least a majority of the directors then comprising the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Incumbent Board.
“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither contemporaneously is, nor in the five years theretofore has been, retained to represent:  (i) the Company or Indemnitee in any matter material to either such party (other than as Independent Counsel under this Agreement or similar agreements), (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder, or (iii) the beneficial owner, directly or indirectly, of securities of the Company representing 5% or more of the combined voting power of the Company’s then outstanding Voting Securities (other than, in each such case, with respect to matters concerning the rights of Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements).  Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in 
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representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.
“Independent Directors” means the directors on the Board who are independent directors as defined in Section 303A of the New York Stock Exchange Listed Company Manual or successor provision, or, if the Company’s common stock is not then quoted on the NYSE, who qualify as independent, disinterested, or a similar term as defined in the rules of the principal securities exchange or inter-dealer quotation system on which the Company’s common stock is then listed or quoted.
“Person” means any individual, entity or group (within the meaning of Sections 13(d)(3) and 14(d)(2) of the Exchange Act).
“Potential Change in Control” shall be deemed to have occurred if (i) any Person shall have announced publicly an intention to effect a Change in Control, or commenced any action (such as the commencement of a tender offer for the Company’s common stock or the solicitation of proxies for the election of any of the Company’s directors) that, if successful, could reasonably be expected to result in the occurrence of a Change in Control; (ii) the Company enters into an agreement, the consummation of which would constitute a Change in Control; or (iii) any other event occurs that the Board declares to be a Potential Change of Control.
“Proceeding” means any threatened, pending or completed action, suit, arbitration, mediation, alternative dispute resolution mechanism, investigation, inquiry, administrative or legislative hearing, or any other proceeding (including any securities laws action, suit, arbitration, alternative dispute resolution mechanism, hearing or procedure) whether civil, criminal, administrative, arbitrative, regulatory or investigative (formal or informal) and whether or not based upon events occurring, or actions taken, before the date hereof; any appeal in or related to any such action, suit, arbitration, mediation, alternative dispute resolution mechanism, investigation, hearing or proceeding; and any inquiry or investigation (including discovery), whether conducted by or in the right of the Company or any other Person, that Indemnitee in good faith believes could lead to any such action, suit, arbitration, mediation, investigation, inquiry, alternative dispute resolution mechanism, hearing or other proceeding or appeal thereof. 
“Subsidiary” means, with respect to any Person, any corporation or other entity of which a majority of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by that Person.
“Voting Securities” means any securities that vote generally in the election of directors, in the admission of general partners, or in the selection of any other similar governing body. 
ARTICLE II

Services by Indemnitee
Indemnitee is serving as an officer of the Company.  Indemnitee may from time to time also agree to serve, as the Company may request from time to time, in another capacity for the Company (including an officer position) or as a director, officer, partner, member, venturer, proprietor, trustee, employee, agent, fiduciary or similar functionary of another foreign or domestic corporation, partnership, joint venture, limited liability company, sole proprietorship, trust, employee benefit plan or other enterprise.  Indemnitee and the Company each acknowledge that they have entered into this Agreement as a means of inducing Indemnitee to serve, or continue to serve, the Company in such capacities.  Indemnitee may at any time and for any reason resign from such position or positions (subject to any other contractual obligation or any 
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obligation imposed by operation of law).  The Company shall have no obligation under this Agreement to continue Indemnitee in any such position or positions.  This Agreement shall continue in full force and effect after Indemnitee has ceased to serve as an officer or director of the Company as provided in Section 7.5.
ARTICLE III

Indemnification
Section 3.1    General.  Subject to the provisions set forth in Article IV, the Company shall indemnify, and advance Expenses to, Indemnitee as set forth in this Article III to the fullest extent permitted by applicable law in effect on the date hereof and to such greater extent as applicable law may hereafter from time to time permit.  The other provisions set forth in this Agreement are provided in addition to and as a means of furtherance and implementation of, and not in limitation of, the obligations expressed in this Article III.  No requirement, condition to or limitation of any right to indemnification or to advancement of Expenses under this Article III shall in any way limit the rights of Indemnitee under Article VII.
Section 3.2    Indemnification in Third-Party Proceedings.  To the fullest extent permitted by applicable law in effect on the date hereof and to such greater extent as applicable law may hereafter from time to time permit, the Company shall indemnify, hold harmless, and exonerate Indemnitee if, by reason of anything done or not done by Indemnitee in, or by reason of, Indemnitee’s Corporate Status, Indemnitee is, was or becomes, or is threatened to be made, a party to, or witness or other participant in, any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 3.2, Indemnitee shall be indemnified against any and all Expenses, judgments, penalties (including excise or similar taxes), fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of any such Expenses, judgments, penalties, fines and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any Claim, issue or matter therein.  Notwithstanding the foregoing, the obligations of the Company under this Section 3.2 shall be subject to the condition that no determination (which, in any case in which Independent Counsel is involved, shall be in a form of a written opinion) shall have been made pursuant to Article IV that Indemnitee would not be permitted to be indemnified under applicable law. Nothing in this Section 3.2 shall limit the benefits of Section 3.1, Section 3.4 or any other Section hereunder.
Section 3.3    Indemnification in Proceedings By or In the Right of the Company.  To the fullest extent permitted by applicable law in effect on the date hereof and to such greater extent as applicable law may hereafter from time to time permit, the Company shall indemnify, hold harmless, and exonerate Indemnitee if, by reason of anything done or not done by Indemnitee in, or by reason of, Indemnitee’s Corporate Status, Indemnitee is, was or becomes, or is threatened to be made, a party to, or witness or other participant in, any Proceeding by or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 3.3, Indemnitee shall be indemnified against any and all Expenses and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of any such Expenses and amounts paid in settlement)  actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any Claim, issue or matter therein.  No indemnification, hold harmless or exoneration for Expenses or amounts paid in settlement shall be made under this Section 3.3 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that any court in which the Proceeding was brought or the Delaware Court shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification, to 
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be held harmless or to exoneration.  Notwithstanding the foregoing, the obligations of the Company under this Section 3.3 shall be subject to the condition that no determination (which, in any case in which Independent Counsel is involved, shall be in a form of a written opinion) shall have been made pursuant to Article IV that Indemnitee would not be permitted to be indemnified under applicable law. Nothing in this Section 3.3 shall limit the benefits of Section 3.1, Section 3.4 or any other Section hereunder.
Section 3.4    Advancement of Expenses.  The Company shall pay all Expenses reasonably incurred by, or in the case of retainers to be incurred by, or on behalf of Indemnitee (or, if applicable, reimburse Indemnitee for any and all Expenses reasonably incurred by Indemnitee and previously paid by Indemnitee) in connection with any Claim or Proceeding, whether brought by or in the right of the Company or otherwise, in advance of any determination respecting entitlement to indemnification pursuant to Article IV hereof (and shall continue to pay such Expenses after such determination and until it shall ultimately be determined (in a final adjudication by a court from which there is no further right of appeal or in a final adjudication of an arbitration pursuant to Section 5.1 if Indemnitee elects to seek such arbitration) that Indemnitee is not entitled to be indemnified by the Company against such Expenses) within 10 days after the receipt by the Company of (a) a written request from Indemnitee requesting such payment or payments from time to time, whether prior to or after final disposition of such Claim or Proceeding, and (b) a written affirmation from Indemnitee of Indemnitee’s good faith belief that Indemnitee has met the standard of conduct necessary for Indemnitee to be permitted to be indemnified under applicable law.  Any such payment by the Company is referred to in this Agreement as an “Expense Advance.”  In connection with any request for an Expense Advance, if requested by the Company, Indemnitee or Indemnitee’s counsel shall also submit an affidavit stating that the Expenses incurred were, or in the case of retainers to be incurred are, reasonably incurred.  Any dispute as to the reasonableness of the incurrence of any Expense shall not delay an Expense Advance by the Company, and the Company agrees that any such dispute shall be resolved only upon the disposition or conclusion of the underlying Claim against Indemnitee.  Indemnitee hereby undertakes and agrees that Indemnitee will reimburse and repay the Company without interest for any Expense Advances to the extent that it shall ultimately be determined (in a final adjudication by a court from which there is no further right of appeal or in a final adjudication of an arbitration pursuant to Section 5.1 if Indemnitee elects to seek such arbitration) that Indemnitee is not entitled to be indemnified by the Company against such Expenses.  Indemnitee shall not be required to provide collateral or otherwise secure the undertaking and agreement described in the prior sentence.  The Company shall make all Expense Advances pursuant to this Section 3.4 without regard to the financial ability of Indemnitee to make repayment and without regard to the prospect of whether Indemnitee may ultimately be found to be entitled to indemnification under the provisions of this Agreement. 
Section 3.5    Indemnification for Additional Expenses.  The Company shall indemnify Indemnitee against any and all costs and expenses (of the types described in the definition of Expenses in Article I) and, if requested by Indemnitee, shall (within two business days of that request) advance those costs and expenses to Indemnitee, that are incurred by Indemnitee in connection with any claim asserted against, or action brought by, Indemnitee for (i) indemnification or an Expense Advance by the Company under this Agreement or any other agreement or provision of the Company’s Certificate of Incorporation or the Company’s Fifth Amended and Restated Bylaws (as they may be amended or restated from time to time, the “Bylaws”) now or hereafter in effect relating to any Claim or Proceeding, (ii) recovery under any directors’ and officers’ liability insurance policies maintained by the Company, or (iii) enforcement of, or claims for breaches of, any provision of this Agreement, in each of the foregoing situations regardless of whether Indemnitee ultimately is determined to be entitled to that indemnification, Expense Advance payment, insurance recovery, enforcement, or damage claim, as the case may be, and regardless of whether the nature of the proceeding with respect to such matters is judicial, by arbitration, or otherwise.
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Section 3.6    Indemnification for Expenses of a Party Who Is Wholly or Partly Successful.  Notwithstanding any other provisions of this Agreement, to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim, issue or matter. If Indemnitee is not wholly successful in such Proceeding, the Company also shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably incurred in connection with a claim, issue or matter related to any claim, issue or matter on which Indemnitee was successful. For purposes of this Section 3.6 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 
Section3.7    Partial Indemnity.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments, fines, penalties, and amounts paid in settlement of a Claim or Proceeding but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.  
ARTICLE IV

Procedure for Determination of Entitlement
to Indemnification
Section 4.1    Request by Indemnitee.  To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request in accordance with Section 7.6, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification.  The Secretary or an Assistant Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.  Nevertheless, any failure of Indemnitee to provide a request to the Company, or to provide such a request timely, shall not relieve the Company of any obligation that it may have to Indemnitee hereunder except, and to the extent that, such failure actually and materially prejudices the interests of the Company.
Section 4.2    Determination of Request.  Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 4.1 hereof, a determination, if required by applicable law, with respect to whether Indemnitee is permitted under applicable law to be indemnified shall be made, in accordance with the terms of Section 4.5, in the specific case as follows:
(a)    If a Potential Change in Control or a Change in Control shall have occurred, by Independent Counsel (selected in accordance with Section 4.3) in a written opinion to the Board and Indemnitee, unless Indemnitee shall request that such determination be made by the Board, or a committee of the Board, in which case by the person or persons or in the manner provided for in clause (i) or (ii) of paragraph (b) below; or
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(b)    If a Potential Change in Control or a Change in Control shall not have occurred, (i) by the Board by a majority vote of the Disinterested Directors even though less than a quorum of the Board, (ii) by a majority vote of a committee solely of two or more Disinterested Directors designated to act in the matter by a majority vote of all Disinterested Directors even though less than a quorum of the Board, (iii) by Independent Counsel selected by the Board or a committee of the Board by a vote as set forth in clauses (i) or (ii) of this paragraph (b), or if such vote is not obtainable or such a committee cannot be established, by a majority vote of all directors, or (iv) if Indemnitee and the Company agree, by the stockholders of the Company in a vote that excludes the shares held by directors who are not Disinterested Directors.
If it is so determined that Indemnitee is permitted to be indemnified under applicable law, payment to Indemnitee shall be made within 10 days after such determination.  Nothing contained in this Agreement shall require that any determination be made under this Section 4.2 prior to the disposition or conclusion of a Claim or Proceeding against Indemnitee; provided, however, that Expense Advances shall continue to be made by the Company pursuant to, and to the extent required by, the provisions of Article III.  Indemnitee shall reasonably cooperate with the person or persons making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person upon reasonable advance request any documentation or information that is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably necessary to such determination.  Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person or persons making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification), and the Company shall indemnify and hold harmless Indemnitee therefrom.
Section 4.3    Independent Counsel.  If a Potential Change in Control or a Change in Control shall not have occurred and the determination of entitlement to indemnification is to be made by Independent Counsel, the Independent Counsel shall be selected by (a) a majority vote of the Disinterested Directors, even though less than a quorum of the Board or (b) if there are no Disinterested Directors, by a majority vote of the Board, and the Company shall give written notice to Indemnitee, within 10 days after receipt by the Company of Indemnitee’s request for indemnification, specifying the identity and address of the Independent Counsel so selected.  If a Potential Change in Control or a Change in Control shall have occurred and the determination of entitlement to indemnification is to be made by Independent Counsel, the Independent Counsel shall be selected by Indemnitee, and Indemnitee shall give written notice to the Company, within 10 days after submission of Indemnitee’s request for indemnification, specifying the identity and address of the Independent Counsel so selected (unless Indemnitee shall request that such selection be made by the Disinterested Directors or a committee of the Board, in which event the Company shall give written notice to Indemnitee within 10 days after receipt of Indemnitee’s request for the Board or a committee of the Disinterested Directors to make such selection, specifying the identity and address of the Independent Counsel so selected).  In either event, (i) such notice to Indemnitee or the Company, as the case may be, shall be accompanied by a written affirmation of the Independent Counsel so selected that it satisfies the requirements of the definition of “Independent Counsel” in Article I and that it agrees to serve in such capacity and (ii) Indemnitee or the Company, as the case may be, may, within seven days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection.  Any objection to the selection of Independent Counsel pursuant to this Section 4.3 may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of the definition of “Independent Counsel” in Article I, and the objection shall set forth with particularity the factual basis of such assertion.  If such written objection is timely made, the Independent Counsel so selected may not serve as Independent Counsel unless and until a court of competent jurisdiction (the “Court”) has determined that such objection is without merit or such objection is withdrawn.  In the event of a 
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timely written objection to a choice of Independent Counsel, the party originally selecting the Independent Counsel shall have seven days to make an alternate selection of Independent Counsel and to give written notice of such selection to the other party, after which time such other party shall have five days to make a written objection to such alternate selection.  If, within 30 days after submission of Indemnitee’s request for indemnification pursuant to Section 4.1, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Court for resolution of any objection that shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the Court or by such other person as the Court shall designate, and the person with respect to whom an objection is so resolved or the person so appointed shall act as Independent Counsel under Section 4.2.  The Company shall pay any and all fees of, and expenses reasonably incurred by, such Independent Counsel in connection with acting pursuant to Section 4.2, and the Company shall pay all fees and expenses reasonably incurred incident to the procedures of this Section 4.3, regardless of the manner in which such Independent Counsel was selected or appointed.  Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 5.1, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).
Section 4.4    Establishment of a Trust.  In the event of a Potential Change in Control or a Change in Control, the Company shall, upon written request by Indemnitee, create a trust for the benefit of Indemnitee (the “Trust”) and from time to time upon written request of Indemnitee shall fund the Trust in an amount sufficient to satisfy any and all Expenses reasonably anticipated at the time of each such request to be incurred in connection with investigating, preparing for, and defending any Claim, and any and all judgments, fines, penalties, and settlement amounts of any and all Claims from time to time actually paid or claimed, reasonably anticipated, or proposed to be paid. The amount to be deposited in the Trust pursuant to the foregoing funding obligation shall be determined by the Independent Counsel (or other person(s) making the determination of whether Indemnitee is permitted to be indemnified by applicable law).  The terms of the Trust shall provide that, upon a Change in Control, (i) the Trust shall not be revoked or the principal thereof invaded, without the written consent of Indemnitee; (ii) the trustee of the Trust shall advance to Indemnitee, within ten days of a request by Indemnitee, any and all Expenses reasonably incurred by, or in case of retainer to be incurred by, or on behalf of Indemnitee (or, if applicable, reimburse Indemnitee for any Expense reasonably incurred by Indemnitee and previously paid by Indemnitee), with any required determination concerning the reasonableness of the Expenses to be made by the Independent Counsel (and Indemnitee hereby agrees to reimburse the Trust under the circumstances in which Indemnitee would be required to reimburse the Company for Expense Advances under Section 3.4 of this Agreement); (iii) the Trust shall continue to be funded by the Company in accordance with the funding obligation set forth above; (iv) the trustee of the Trust shall promptly pay to Indemnitee all amounts for which Indemnitee shall be entitled to Expense Advances and indemnification pursuant to this Agreement; and (v) all unexpended funds in the Trust shall revert to the Company upon a final determination by the Independent Counsel or the Court, as the case may be, that Indemnitee has been fully indemnified under the terms of this Agreement.  The trustee of the Trust shall be chosen by Indemnitee and shall be an institution that is not affiliated with Indemnitee.  Nothing in this Section 4.4 shall relieve the Company of any of its obligations under this Agreement.
Section 4.5    Presumptions and Effect of Certain Proceedings.
(a)    Indemnitee shall be presumed to be entitled to indemnification under this Agreement upon submission of a request for indemnification under Section 4.1, and the Company shall have the burden of proof in overcoming that presumption in reaching a determination contrary to that presumption.  Such presumption shall be used by Independent Counsel (or other person or persons determining entitlement to 
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indemnification) as a basis for a determination of entitlement to indemnification unless the Company provides information sufficient to overcome such presumption by clear and convincing evidence or unless the investigation, review and analysis of Independent Counsel (or such other person or persons) convinces Independent Counsel by clear and convincing evidence that the presumption should not apply.
(b)    If the person or persons empowered or selected under Article IV of this Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination within 60 days after receipt by the Company of the request by Indemnitee therefor, the determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating to such determination; and provided, further, that the 60-day limitation set forth in this Section 4.5(b) shall not apply and such period shall be extended as necessary (i) if within 30 days after receipt by the Company of the request for indemnification under Section 4.1 Indemnitee and the Company have agreed, and the Board has resolved, to submit such determination to the stockholders of the Company pursuant to Section 4.2(b) for their consideration at an annual meeting of stockholders to be held within 90 days after such agreement and such determination is made thereat, or at a special meeting of stockholders that is called within 30 days after such receipt for the purpose of making such determination, such meeting is held for such purpose within 60 days after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 4.2(a) of this Agreement, in which case the applicable period shall be as set forth in Section 5.1(c).
(c)    The termination of any Proceeding or of any Claim, issue or matter by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) by itself adversely affect the rights of Indemnitee to indemnification or create a presumption that Indemnitee failed to meet any particular standard of conduct, that Indemnitee had any particular belief, or that a court has determined that indemnification is not permitted by applicable law.  Indemnitee shall be deemed to have been found liable in respect of any Claim, issue or matter only after Indemnitee shall have been so adjudged by the Court after exhaustion of all appeals therefrom.
(d)    For purposes of Section 3.6, a settlement or other resolution of a Proceeding short of final judgment may be successful if it permits a party to avoid expense, delay, distraction, disruption and uncertainty.  For purposes of Section 3.6, in the event that any Proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including settlement of such Proceeding with or without payment of money or other consideration), it shall be presumed that Indemnitee has been successful on the merits or otherwise in such Proceeding.  Anyone seeking to overcome this presumption shall have the burden of proof by clear and convincing evidence.
(e)    The failure of the Company (including by its directors or Independent Counsel) to have made a determination before the commencement of any action pursuant to this Agreement that indemnification is proper because Indemnitee has met the applicable standard of conduct shall not be a defense to the action or create a presumption that Indemnitee has not met the standard of conduct.
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ARTICLE V

Certain Remedies of Indemnitee
Section 5.1    Indemnitee Entitled to Adjudication in an Appropriate Court. If (a) a determination is made pursuant to Article IV that Indemnitee is not entitled to indemnification under this Agreement; (b) there has been any failure by the Company to make timely payment or advancement of any amounts due hereunder (including any Expense Advances); or (c) the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 4.2 and such determination shall not have been made and delivered in a written opinion within 90 days after the latest of (i) such Independent Counsel’s being appointed, (ii) the overruling by the Court of objections to such counsel’s selection, or (iii) expiration of all periods for the Company or Indemnitee to object to such counsel’s selection, Indemnitee shall be entitled to commence an action seeking an adjudication in the Court of Indemnitee’s entitlement to such indemnification or advancements due hereunder, including Expense Advances.  Alternatively, Indemnitee, at Indemnitee’s option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the commercial arbitration rules of the American Arbitration Association.  Indemnitee shall commence such action seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such action pursuant to this Section 5.1, or such right shall expire.  The Company agrees not to oppose Indemnitee’s right to seek any such adjudication or award in arbitration and it shall continue to pay Expense Advances pursuant to Section 3.4 until it shall ultimately be determined (in a final adjudication by a court from which there is no further right of appeal or in a final adjudication of an arbitration pursuant to this Section 5.1 if Indemnitee elects to seek such arbitration) that Indemnitee is not entitled to be indemnified by the Company against such Expenses.
Section 5.2    Adverse Determination Not to Affect any Judicial Proceeding.  If a determination shall have been made pursuant to Article IV that Indemnitee is not entitled to indemnification under this Agreement, any judicial proceeding or arbitration commenced pursuant to this Article V shall be conducted in all respects as a de novo trial or arbitration on the merits, and Indemnitee shall not be prejudiced by reason of such initial adverse determination.  In any judicial proceeding or arbitration commenced pursuant to this Article V, Indemnitee shall be presumed to be entitled to indemnification or advancement of Expenses, as the case may be, under this Agreement and the Company shall have the burden of proof in overcoming such presumption and to show by clear and convincing evidence that Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.
Section 5.3    Company Bound by Determination Favorable to Indemnitee in any Judicial Proceeding or Arbitration.  If a determination shall have been made or deemed to have been made pursuant to Article IV that Indemnitee is entitled to indemnification, the Company shall be irrevocably bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Article V, and shall be precluded from asserting that such determination has not been made or that the procedure by which such determination was made is not valid, binding and enforceable. 
Section 5.4    Company Bound by the Agreement.  The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Article V that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.  Without limiting the generality of the preceding sentence, the Company shall not seek from a court, or agree to, a “bar order” that would have the effect of prohibiting or limiting Indemnitee’s rights to advancement of any Expenses under this Agreement.
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ARTICLE VI

Contribution
Section 6.1    Contribution Payment.  
(a)    To the fullest extent permitted by law, whether or not the indemnification provided in Article III hereof is available, in respect of any threatened, pending or completed action, suit or Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, or Proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement of such action, suit or Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have against Indemnitee.  The Company shall not enter into any settlement of any action, suit or Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.
(b)    Without diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action, suit or Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or Proceeding), the Company shall contribute to the amount of Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or Proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction or events from which such action, suit or Proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or Proceeding), on the one hand, and Indemnitee, on the other hand, in connection with the transaction or events that resulted in such Expenses, judgments, fines or settlement amounts, as well as any other equitable considerations that applicable law may require to be considered.
(c)    The Company hereby agrees, to the fullest extent permitted by applicable law, to fully indemnify and hold Indemnitee harmless from any claims of contribution that may be brought by officers, directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.
(d)    To the fullest extent permissible under applicable law and without diminishing or impairing the obligations of the Company set forth in the preceding subparagraphs of this Section 6.1, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, 
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officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).
Section 6.2    Relative Fault.  The relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault with respect to such matter shall be determined (i) by reference to the relative fault of Indemnitee as determined by the court or other governmental agency assessing the contribution amounts or (ii) to the extent such court or other governmental agency does not apportion relative fault, by the Independent Counsel (or such other party that makes a determination under Article IV) after giving effect to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary, the degree to which their conduct is active or passive, the degree of the knowledge, access to information, and opportunity to prevent or correct the subject matter of the Proceedings and other relevant equitable considerations of each party.  The Company and Indemnitee agree that it would not be just and equitable if contribution pursuant to this Section 6.2 were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in this Section 6.2.
ARTICLE VII

Miscellaneous
Section 7.1    Non-Exclusivity.  The rights of Indemnitee to receive indemnification and Expense Advances under this Agreement shall be in addition to, and shall not be deemed exclusive of, any other rights that Indemnitee may be entitled to under the DGCL or other applicable law, the Certificate of Incorporation or Bylaws, any other agreement, vote of stockholders or a resolution of directors, or otherwise.  Every other right or remedy of Indemnitee shall be cumulative of the rights and remedies granted Indemnitee hereunder.  No amendment or alteration of the Certificate of Incorporation or Bylaws or any provision thereof shall adversely affect Indemnitee’s rights hereunder, and such rights shall be in addition to any rights Indemnitee may have under the Certificate of Incorporation, Bylaws and the DGCL or other applicable law.  To the extent that there is a change in the DGCL or other applicable law (whether by statute or judicial decision) that allows greater indemnification by agreement than would be afforded currently under the Certificate of Incorporation or Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by virtue of this Agreement the greater benefit so afforded by such change.  Any amendment, alteration or repeal of the DGCL that adversely affects any right of Indemnitee shall be prospective only and shall not limit or eliminate any such right with respect to any Proceeding involving any occurrence or alleged occurrence of any action or omission to act that took place before the effective date of such amendment or repeal.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.
Section 7.2    Insurance and Subrogation.
(a)    To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, agents or fiduciaries of the Company or for individuals serving at the request of the Company as directors, officers, partners, members, venturers, proprietors, trustees, employees, agents, fiduciaries or similar functionaries of another foreign or domestic corporation, partnership, limited liability company, joint venture, sole proprietorship, trust, employee benefit plan or other enterprise, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer, employee, agent or fiduciary under such policy or policies; 
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provided, however, that the Company shall not be in breach of this Section 7.2(a) by reason of obtaining any independent director liability insurance policies.  If, at the time of the receipt of notice of a claim pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective policies.  The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.
(b)    In the event of any payment by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights, provided that all Expenses relating to such action shall be borne by the Company.
(c)    The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually received such payment under the Certificate of Incorporation or Bylaws or any insurance policy, contract, agreement or otherwise.  
(d)    If Indemnitee is a director of the Company, the Company will advise the Board of any proposed material reduction in the amount of coverage limits for Indemnitee to be provided by the Company’s directors’ and officers’ liability insurance policy and will not effect such a reduction with respect to Indemnitee without the prior approval of at least 80% of the Independent Directors of the Company.
(e)    If Indemnitee is a director of the Company during the term of this Agreement and if Indemnitee ceases to be a director of the Company for any reason, the Company shall procure a run-off directors’ and officers’ liability insurance policy with respect to claims arising from facts or events that occurred before the time Indemnitee ceased to be a director of the Company and covering Indemnitee, which policy, without any lapse in coverage, will provide coverage for a period of six years after the time Indemnitee ceased to be a director of the Company and will provide coverage (including amount and type of coverage and size of deductibles) that are substantially comparable to the Company’s directors’ and officers’ liability insurance policy that was most protective of Indemnitee in the 12 months preceding the time Indemnitee ceased to be a director of the Company; provided, however, that:
(i)    this obligation shall be suspended during the period immediately following the time Indemnitee ceases to be a director of the Company if and only so long as the Company has a directors’ and officers’ liability insurance policy in effect covering Indemnitee for such claims that, if it were a run-off policy, would meet or exceed the foregoing standards, but in any event this suspension period shall end when a Change in Control occurs; and
(ii)    no later than the end of the suspension period provided in the preceding clause (i) (whether because of failure to have a policy meeting the foregoing standards or because a Change in Control occurs), the Company shall procure a run-off directors’ and officers’ liability insurance policy meeting the foregoing standards and lasting for the remainder of the six-year period.
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(f)    Notwithstanding the preceding clause (e) including the suspension provisions therein, if Indemnitee ceases to be an officer or a director of the Company in connection with a Change in Control or at or during the one-year period following the occurrence of a Change in Control, the Company shall procure a run-off directors’ and officers’ liability insurance policy covering Indemnitee and meeting the foregoing standards in clause (e) and lasting for a six-year period upon Indemnitee’s ceasing to be an officer or a director of the Company in such circumstances.
(g)    If at the time of the receipt of a notice of a Claim or Proceeding pursuant to the terms hereof, the Company has directors’ and officers’ liability insurance in effect, the Company shall give prompt notice of the commencement of such Claim or Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Claim or Proceeding in accordance with the terms of such policies.
Section 7.3    Self Insurance of the Company; Other Arrangements.  The parties hereto recognize that the Company may, but except as provided in Section 7.2(d), Section 7.2(e), and Section 7.2(f) is not required to, procure or maintain insurance or other similar arrangements, at its expense, to protect itself and any person, including Indemnitee, who is or was a director, officer, employee, agent or fiduciary of the Company or who is or was serving at the request of the Company as a director, officer, partner, member, venturer, proprietor, trustee, employee, agent, fiduciary or similar functionary of another foreign or domestic corporation, partnership, limited liability company, joint venture, sole proprietorship, trust, employee benefit plan or other enterprise against any expense, liability or loss asserted against or incurred by such person, in such a capacity or arising out of the person’s status as such a person, whether or not the Company would have the power to indemnify such person against such expense or liability or loss.
Except as provided in Section 7.2(d), Section 7.2(e) and Section 7.2(f), in considering the cost and availability of such insurance, the Company (through the exercise of the business judgment of its directors and officers) may, from time to time, purchase insurance that provides for certain (i) deductibles or retentions, (ii) limits on payments required to be made by the insurer, or (iii) coverage that may not be as comprehensive as that previously included in insurance purchased by the Company or its predecessors.  The purchase of insurance with deductibles or retentions, limits on payments and coverage exclusions, even if in the best interest of the Company, may not be in the best interest of Indemnitee.  As to the Company, purchasing insurance with deductibles or retentions, limits on payments and coverage exclusions is similar to the Company’s practice of self-insurance in other areas.  In order to protect Indemnitee who would otherwise be more fully or entirely covered under such policies, the Company shall, to the maximum extent permitted by applicable law, indemnify and hold Indemnitee harmless to the extent (i) of such deductibles or retentions and (ii) of amounts exceeding payments made by an insurer, if by reason of Indemnitee’s Corporate Status Indemnitee is or is threatened to be made a party to any Proceeding.  The obligation of the Company in the preceding sentence shall be without regard to whether the Company would otherwise be required to indemnify such officer or director under the other provisions of this Agreement, or under any law, agreement, vote of stockholders or directors or other arrangement.   Without limiting the generality of any provision of this Agreement, the procedures in Article IV hereof shall, to the extent applicable, be used for determining entitlement to indemnification under this Section 7.3. 
Section 7.4    Certain Settlement Provisions.  The Company shall have no obligation to indemnify Indemnitee under this Agreement for amounts paid in settlement of a Proceeding or Claim without the Company’s prior written consent.  The Company shall not settle any Proceeding or Claim in any manner that would impose any fine or other obligation on 
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Indemnitee without Indemnitee’s prior written consent.  Neither the Company nor Indemnitee shall unreasonably withhold their consent to any proposed settlement.
Section 7.5    Duration of Agreement.  This Agreement shall continue for so long as Indemnitee serves as a director, officer, employee, agent or fiduciary of the Company or, at the request of the Company, as a director, officer, partner, member, venturer, proprietor, trustee, employee, agent, fiduciary or similar functionary of another foreign or domestic corporation, partnership, limited liability company, joint venture, sole proprietorship, trust, employee benefit plan or other enterprise, and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Article V of this Agreement) by reason of Indemnitee’s Corporate Status, whether or not Indemnitee is acting in any such capacity at the time any liability or expense is incurred for which indemnification or advancement can be provided under this Agreement.
Section 7.6    Notice by Each Party.  Indemnitee shall promptly notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document or communication relating to any Proceeding or Claim for which Indemnitee may be entitled to indemnification or advancement of Expenses hereunder; provided, however, that any failure of Indemnitee to so notify the Company shall not adversely affect Indemnitee’s rights under this Agreement except to the extent the Company shall have been materially prejudiced as a direct result of such failure.  The Company shall promptly notify Indemnitee in writing as to the pendency of any Proceeding or Claim that may involve a claim against Indemnitee for which Indemnitee may be entitled to indemnification or advancement of Expenses hereunder.
Section 7.7    Amendment.  This Agreement may not be modified or amended except by a written instrument executed by or on behalf of each of the parties hereto.
Section 7.8    Waivers.  The observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) by the party entitled to enforce such term only by a writing signed by the party against which such waiver is to be asserted.  Unless otherwise expressly provided herein, no delay on the part of any party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party hereto of any right, power or privilege hereunder operate as a waiver of any other right, power or privilege hereunder nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder.
Section 7.9    Entire Agreement.  This Agreement and the documents expressly referred to herein constitute the entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with respect to the matters covered hereby, including any prior indemnification agreements, are expressly superseded and replaced by this Agreement.
Section 7.10    Severability.  If any provision of this Agreement (including any provision within a single section, paragraph or sentence) or the application of such provision to any Person or circumstance, shall be judicially declared to be invalid, unenforceable or void, such decision will not have the effect of invalidating or voiding the remainder of this Agreement or affect the application of such provision to other Persons or circumstances, it being the intent and agreement of the parties that this Agreement shall be deemed amended by modifying such provision to the extent necessary to render it valid, legal and enforceable while preserving its intent, or if such modification is not possible, by substituting therefor another provision that is valid, legal and enforceable and that achieves the same objective. Any such finding of invalidity or 
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unenforceability shall not prevent the enforcement of such provision in any other jurisdiction to the maximum extent permitted by applicable law.
Section 7.11    Notices. All notices and other communications hereunder shall be in writing and shall be deemed given upon (a) transmitter’s confirmation of a receipt of a facsimile transmission if during normal business hours of the recipient, otherwise on the next business day, (b) confirmed delivery of a standard overnight courier or when delivered by hand or (c) the expiration of five business days after the date mailed by certified or registered mail (return receipt requested), postage prepaid, to the parties at the following addresses (or at such other addresses for a party as shall be specified by like notice):
If to the Company, to it at:

    Pioneer Natural Resources Company
    777 Hidden Ridge 
    Irving, Texas  75038-3802
    Attn: Corporate Secretary
    Facsimile:  (972) 969-3552

If to Indemnitee, to Indemnitee at:

    Christopher L. Washburn
    1050 Mercer Ave.
    Argyle, TX 76226

or to such other address or to such other individuals as any party shall have last designated by notice to the other parties.  All notices and other communications given to any party in accordance with the provisions of this Agreement shall be deemed to have been given when delivered or sent to the intended recipient thereof in accordance with and as provided in the provisions of this Section 7.11.
Section 7.12    Governing Law.  This Agreement shall be construed in accordance with and governed by the laws of the State of Delaware without regard to the principles of conflict of laws.
Section 7.13    Certain Construction Rules.  
(a)    The article and section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.  As used in this Agreement, unless otherwise provided to the contrary, (1) all references to days shall be deemed references to calendar days and (2) any reference to a “Section” or “Article” shall be deemed to refer to a section or article of this Agreement.  The words “hereof,” “herein” and “hereunder” and words of similar import referring to this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement.  Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”  Unless otherwise specifically provided for herein, the term “or” shall not be deemed to be exclusive.  Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa.
(b)    For purposes of this Agreement, references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to any employee benefit plan; references to “serving at 
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the request of the Company” shall include any service as a director, officer, employee or agent of the Company that imposes duties on, or involves services by, such director, nominee, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner the person reasonably believed to be in the interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interest of the Company” for purposes of this Agreement and the DGCL.
(c)    In the event of a merger, consolidation or amalgamation of the Company with or into any other entity, references to the “Company” shall include the entity surviving or resulting from the merger, consolidation or amalgamation as well as the Company, and Indemnitee shall stand in the same position under this Agreement with respect to the surviving or resulting entity as Indemnitee would stand with respect to the Company if its existence had continued upon and after the merger, consolidation or amalgamation.
Section 7.14    Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories to the original or same counterpart.
Section 7.15    Certain Persons Not Entitled to Indemnification.  Notwithstanding any other provision of this Agreement (but subject to Section 7.1), Indemnitee shall not be entitled to indemnification or advancement of Expenses pursuant to the terms of this Agreement with respect to any Proceeding or any Claim, issue or matter therein, brought or made by Indemnitee against the Company, except as specifically provided in Article III, Article IV or Section 7.3.  In addition, the Company shall not be obligated pursuant to the terms of this Agreement:
(a)    To indemnify Indemnitee if (and to the extent that) a final decision by a court or arbitration body having jurisdiction in the matter shall determine that such indemnification is not lawful; or
(b)    To indemnify Indemnitee for the payment to the Company of profits pursuant to Section 16(b) of the Exchange Act, or Expenses incurred by Indemnitee for Proceedings in connection with such payment under Section 16(b) of the Exchange Act.
Section 7.16    Indemnification for Negligence, Gross Negligence, etc.  Without limiting the generality of any other provision hereunder, it is the express intent of this Agreement that Indemnitee be indemnified and Expenses be advanced regardless of Indemnitee’s acts of negligence, gross negligence, intentional or willful misconduct to the extent that indemnification and advancement of Expenses is allowed pursuant to the terms of this Agreement and under applicable law.
Section 7.17    Mutual Acknowledgments.  Both the Company and Indemnitee acknowledge that in certain instances, applicable law (including applicable federal law that may preempt or override applicable state law) or public policy may prohibit the Company from indemnifying the directors, officers, employees, agents or fiduciaries of the Company under this Agreement or otherwise.  For example, the Company and Indemnitee acknowledge that the U.S. Securities and Exchange Commission has taken the position that indemnification of directors, officers and controlling Persons of the Company for liabilities arising under federal securities laws is against public policy and, therefore, unenforceable.  Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the U.S. Securities and Exchange Commission to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy 
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to indemnify Indemnitee.  In addition, the Company and Indemnitee acknowledge that federal law prohibits indemnifications for certain violations of the Employee Retirement Income Security Act of 1974, as amended.
Section 7.18    Enforcement.  The Company agrees that its execution of this Agreement shall constitute a stipulation by which it shall be irrevocably bound in any court or arbitration in which a proceeding by Indemnitee for enforcement of Indemnitee’s rights hereunder shall have been commenced, continued or appealed, that its obligations set forth in this Agreement are unique and special, and that failure of the Company to comply with the provisions of this Agreement will cause irreparable and irremediable injury to Indemnitee, for which a remedy at law will be inadequate.  As a result, in addition to any other right or remedy Indemnitee may have at law or in equity with respect to breach of this Agreement, Indemnitee shall be entitled to injunctive or mandatory relief directing specific performance by the Company of its obligations under this Agreement.  The Company agrees not to seek, and agrees to waive any requirement for the securing or posting of, a bond in connection with Indemnitee’s seeking or obtaining such relief.
Section 7.19    Successors and Assigns. All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators, and legal representatives. 
Section 7.20    Period of Limitations.  No legal action shall be brought and no cause of action shall be asserted by or on behalf of the Company or any affiliate of the Company against Indemnitee or Indemnitee’s spouse, heirs, executors, or personal or legal representatives after the expiration of one year from the date of accrual of that cause of action, and any claim or cause of action of the Company or its affiliate shall be extinguished and deemed released unless asserted by the timely filing of a legal action within that one-year period; provided, however, that for any claim based on Indemnitee’s breach of fiduciary duties to the Company or its stockholders, the period set forth in the preceding sentence shall be three years instead of one year; and provided, further, that, if any shorter period of limitations is otherwise applicable to any such cause of action, the shorter period shall govern.

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[signatures on following page]
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IN WITNESS WHEREOF, this Agreement has been duly executed and delivered to be effective as of the date first above written.
    PIONEER NATURAL RESOURCES COMPANY

    By:     /s/ Mark H. Kleinman    
    Name:    Mark H. Kleinman
    Title:     Executive Vice President, General Counsel and Assistant Secretary 

    INDEMNITEE:

    /s/ Christopher L. Washburn     _________________
    Christopher L. Washburn

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