Document:

gtbp_ex102

 

  Exhibit
10.2

 

Original
Issue Date: December 22,
2020

 

Principal Amount: $500,000

 

Original Conversion Price (subject to adjustment herein):
$0.20

 

CONVERTIBLE NOTE

DUE JANUARY 31, 2021

 

THIS
CONVERTIBLE NOTE is a duly authorized and validly issued Note of
GT BIOPHARMA, INC., a
Delaware corporation, (“Borrower”), having its
principal place of business at 9350 Wilshire Blvd, Suite 203,
Beverly Hills, CA 90212, due
January 31, 2021 (the “Maturity Date”) (this
note, the “Note”).

 

FOR
VALUE RECEIVED, Borrower promises to pay to ALTO OPPORTUNITY MASTER
FUND, SPC – SEGREGATED MASTER PORTFOLIO B or its registered assigns (the
“Holder”), with an address
at: 55 Post Rd West, 2nd Floor, Westport, CT 06880, or shall have
paid pursuant to the terms hereunder, the principal sum of FIVE
HUNDRED THOUSAND DOLLARS ($500,000) on the Maturity Date or such
earlier date as this Note is required or permitted to be repaid as
provided hereunder, and to pay interest, if any, to the Holder on
the aggregate unconverted and then outstanding principal amount of
this Note in accordance with the provisions hereof.

 

This
Note is subject to the following additional
provisions:

 

Section
1.          Definitions.
For the purposes hereof, in addition to the terms defined elsewhere
in this Note, (a) capitalized terms not otherwise defined herein
shall have the meanings set forth in the Settlement Agreement and
(b) the following terms shall have the following
meanings:

 

“July 7, 2019
Debentures” means the convertible debentures issued by the
Borrower in the aggregate principal amount of $3,190,000 on July 7,
2019.

 

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

 

“Alternate Consideration”
shall have the meaning set forth in Section 5(e).

 

“Attribution Parties”
shall have the meaning set forth in Section 4(e).

 

“Bankruptcy Event” means
any of the following events: (a) Borrower or any Subsidiary thereof
commences a case or other proceeding under any bankruptcy,
reorganization, arrangement, adjustment of debt, relief of debtors,
dissolution, insolvency or liquidation or similar law of any
jurisdiction relating to Borrower or any Subsidiary thereof, (b)
there is commenced against Borrower or any Subsidiary thereof any
such case or proceeding that is not dismissed within 60 days after
commencement, (c) Borrower or any Subsidiary thereof is adjudicated
insolvent or bankrupt or any order of relief or other order
approving any such case or proceeding is entered, (d) Borrower or
any Subsidiary thereof suffers any appointment of any custodian or
the like for it or any substantial part of its property that is not
discharged or stayed within 60 calendar days after such
appointment, (e) Borrower or any Subsidiary thereof makes a general
assignment for the benefit of creditors, (f) Borrower or any
Subsidiary thereof calls a meeting of its creditors with a view to
arranging a composition, adjustment or restructuring of its debts
(g) Borrower or any Subsidiary thereof
admits in writing that it is generally unable to pay its debts as
they become due, or (h) Borrower or any Subsidiary thereof,
by any act or failure to act, expressly indicates its consent to,
approval of or acquiescence in any of the foregoing or takes any
corporate or other action for the purpose of effecting any of the
foregoing.

 

 

 

 

“Base Conversion Price”
shall have the meaning set forth in Section 5(b).

 

“Beneficial Ownership
Limitation” shall have the meaning set forth in
Section 4(e).

 

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

 

“Buy-In” shall have the
meaning set forth in Section 4(d)(v).

 

“Change of Control
Transaction” means, other than by means of conversion
or exercise of this Note and the securities issued together with
this Note, the occurrence after the date hereof of any of (a) an
acquisition by an individual or legal entity or “group”
(as described in Rule 13d-5(b)(1) promulgated under the Exchange
Act) of effective control (whether through legal or beneficial
ownership of capital stock of Borrower, by contract or otherwise)
of in excess of 50% of the voting securities of Borrower, (b)
Borrower merges into or consolidates with any other Person, or any
Person merges into or consolidates with Borrower and, after giving
effect to such transaction, the stockholders of Borrower
immediately prior to such transaction own less than 50% of the
aggregate voting power of Borrower or the successor entity of such
transaction, (c) Borrower sells or transfers all or substantially
all of its assets to another Person and the stockholders of
Borrower immediately prior to such transaction own less than 50% of
the aggregate voting power of the acquiring entity immediately
after the transaction, (d) a replacement at one time or within a
three year period of more than one-half of the members of the Board
of Directors which is not approved by a majority of those
individuals who are members of the Board of Directors on the
Original Issue Date (or by those individuals who are serving as
members of the Board of Directors on any date whose nomination to
the Board of Directors was approved by a majority of the members of
the Board of Directors who are members on the date hereof), or (e)
the execution by Borrower of an agreement to which Borrower is a
party or by which it is bound, providing for any of the events set
forth in clauses (a) through (d) above.

 

“Common Stock Equivalents”
means any securities of Borrower or its subsidiaries which would
entitle the holder thereof to acquire at any time Common
Stock.

 

 “Conversion”
shall have the meaning ascribed to such term in Section
4.

 

“Conversion Date” shall
have the meaning set forth in Section 4(a).

 

“Conversion Price” shall
have the meaning set forth in Section 4(c).

 

“Conversion Shares” means,
collectively, the shares of Common Stock issuable upon conversion
of this Note in accordance with the terms hereof.

 

 

2

 

 

“Dilutive Issuance” shall
have the meaning set forth in Section 5(b).

 

“Event of Default” shall
have the meaning set forth in Section 8(a).

 

“Exempt Issuance” means
the issuance of (a) shares of Common Stock or options to employees,
officers or directors of Borrower or its Subsidiaries pursuant to
any equity or option plan duly adopted for such purpose, by a
majority of the non-employee members of the Board of Directors or a
majority of the members of a committee of non-employee directors
established for such purpose, (b) the Conversion Shares upon
conversion of this Note and/or other securities exercisable or
exchangeable for, or convertible into, Common Stock issued and
outstanding on the Original Issue Date; provided that such securities
and any term thereof have not been amended since the Original Issue
Date to increase the number of such securities or to decrease the
issue price, exercise price, exchange price or conversion price of
such securities (except pursuant to provisions providing for
automatic adjustment to such terms upon the occurrence of certain
events similar to those set forth in Section 5) and (c) securities
issued pursuant to acquisitions or strategic transactions approved
by a majority of the disinterested directors of Borrower,
provided that any
such issuance shall only be to a Person (or to the equity holders
of a Person) which is, itself or through its Subsidiaries, an
operating company or an owner of an asset in a business synergistic
with the business of Borrower and shall be intended to provide to
Borrower substantial additional benefits in addition to the
investment of funds, but shall not include a transaction in which
Borrower is issuing securities primarily for the purpose of raising
capital or to an entity whose primary business is investing in
securities.

 

“Fundamental Transaction”
shall have the meaning set forth in Section 5(e).

 

“Interest Payment Date”
shall have the meaning set forth in Section 2(
a).

 

“Liens” means a lien,
charge, pledge, security interest, encumbrance, right of first
refusal, preemptive right or other restriction.

 

“Mandatory Default Amount”
means the sum of (a) 130% of the outstanding principal amount of
this Note and (b) all other amounts, costs, and expenses due in
respect of this Note.

 

“New York Courts” shall
have the meaning set forth in Section 9(d).

 

“Note Register” shall have
the meaning set forth in Section 3(c).

 

“Notice of Conversion”
shall have the meaning set forth in Section 4(a).

 

“Option of Holder to Elect
Purchase” shall have the meaning set forth in Section
2(h).

 

“Original Issue Date”
means the date of the first issuance of this Note, regardless of
any transfers of any Note and regardless of the number of
instruments which may be issued to evidence such Note.

 

 

3

 

 

“Permitted Indebtedness”
means (a) the Indebtedness set forth on Schedule A attached hereto; (b)
any liabilities for borrowed money or amounts owed not in excess of
$10,000 in the aggregate (other than trade accounts payable
incurred in the ordinary course of business); (c) all guaranties,
endorsements and other contingent obligations in respect of
Indebtedness of others, whether or not the same are or should be
reflected in Borrower's consolidated balance sheet (or the notes
thereto) not affecting more than $10,000 in the aggregate, except
guaranties by endorsement of negotiable instruments for deposit or
collection or similar transactions in the ordinary course of
business; (d) the present value of any lease payments not in excess
of $100,000 due under leases required to be capitalized in
accordance with United States generally accepted accounting
principles applied on a consistent basis during the periods
involved ("GAAP");
(e) any liabilities for borrowed money that are junior to this Note
pursuant to an intercreditor agreement, and the holders of which
are not granted any security interest; (f) up to $7,500,000
aggregate principal amount of liability for borrowed money incurred
after the Original Issue Date that rank pari passu to this Note and the holders
of which are not granted any security interest; and (g) any other
liability for borrowed money incurred on or after the Repurchase
Offer Trigger Date; provided that Borrower shall
comply (or shall have previously complied) with the requirements of
Section 2(h).

 

“Permitted Lien” means the
individual and collective reference to the following: (a) Liens for
taxes, assessments and other governmental charges or levies not yet
due or Liens for taxes, assessments and other governmental charges
or levies being contested in good faith and by appropriate
proceedings for which adequate reserves (in the good faith judgment
of the management of Borrower) have been established in accordance
with GAAP, (b) Liens imposed by law which were incurred in the
ordinary course of Borrower's business, such as carriers',
warehousemen's and mechanics' Liens, statutory landlords' Liens,
and other similar Liens arising in the ordinary course of
Borrower's business, and which (x) do not individually or in the
aggregate materially detract from the value of such property or
assets or materially impair the use thereof in the operation of the
business of Borrower and its consolidated Subsidiaries or (y) are
being contested in good faith by appropriate proceedings, which
proceedings have the effect of preventing for the foreseeable
future the forfeiture or sale of the property or asset subject to
such Liens, and (c) Liens in connection with Permitted Indebtedness
under clauses (a), (b), (c) and (g) thereunder.

 

“Person” means an
individual, a limited liability company, a partnership, a joint
venture, a corporation, a trust, an unincorporated organization,
any other entity and a government or any department or agency
thereof.

 

“Repurchase Amount” shall
have the meaning set forth in Section 2(h).

 

“Repurchase Date” has the
meaning set forth in Section 2(h).

 

“Repurchase Notice” shall
have the meaning set forth in Section 2(h).

 

“Repurchase Offer” shall
have the meaning set forth in Section 2(h).

 

“Repurchase Offer Trigger
Date” means the date upon which Borrower consummates a
capital raising transaction, or the last in a series of capital
raising transactions, in each case, consisting of the sale by
Borrower or its Subsidiaries of Common Stock, Common Stock
Equivalents, Indebtedness or a combination thereof, which
transaction, or series of transactions, result in aggregate gross
proceeds to Borrower of $7,500,000 or more.

 

“Securities Act” means the
Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder.

 

“Settlement Agreement”
means that certain Settlement Agreement, dated as of December 22,
2020, by and among Borrower, the Holder, Anthony
Cataldo and Paul Kessler.

 

“Share Delivery Date”
shall have the meaning set forth in Section 4(d)(ii).

 

 

4

 

 

“Subsidiary” means, with
respect to any Person, any corporation, partnership, limited
liability company, association, joint venture or other business
entity of which more than 50% of the total voting power of shares,
stock or other ownership interests entitled (without regard to the
occurrence of any contingency) to vote in the election of the
Person or Persons (whether directors, managers, trustees or other
Persons performing similar functions) having the power to direct or
cause the direction of the management and policies thereof is at
the time owned or controlled, directly or indirectly, by that
Person or one or more of the other Subsidiaries of that Person or a
combination thereof; provided, in determining the
percentage of ownership interests of any Person controlled by
another Person, no ownership interest in the nature of a
“qualifying share” of the former Person shall be deemed
to be outstanding. Unless the context otherwise requires,
references herein to a “Subsidiary” refer to a
Subsidiary of Borrower.

 

“Successor Entity” shall
have the meaning set forth in Section 5(e).

 

“Trading Day” means a day
on which the principal Trading Market is open for
trading.

 

“Trading Market” means any
of the following markets or exchanges on which the Common Stock is
listed or quoted for trading on the date in question: the NYSE
American, the Nasdaq Capital Market, the Nasdaq Global Market, the
Nasdaq Global Select Market, the New York Stock Exchange, the OTC
Bulletin Board, the OTCQB, the OTCQX or the OTC Pink Marketplace
(or any successors to any of the foregoing).

 

Section
2.       
 Interest and General
Provisions.

 

a)           Payment
of Interest in Cash or Kind. Borrower shall pay interest to
the Holder on the aggregate unconverted and then outstanding
principal amount of this Note at the rate of 10% per annum, payable
on each Conversion Date (as to that principal amount then being
converted), on the Repurchase Date and on the Maturity Date (each
such date, an “Interest Payment Date”)
(if any Interest Payment Date is not a Business Day, then the
applicable payment shall be due on the next succeeding Business
Day), in cash or, at the Holder’s option in connection with
an Interest Payment Date occurring on a Conversion Date, the
Repurchase Date or the Maturity Date, in duly authorized, validly
issued, fully paid and non-assessable shares of Common Stock based
on the Conversion Price then in effect. Borrower may not pay any
interest in shares of Common Stock to the extent such payment shall
cause the Holder to exceed the Beneficial Ownership
Limitation. Following
the occurrence and during the continuance of an Event of Default,
then from the first date of such occurrence, the annual interest
rate on this Note shall be eighteen percent (18%). Such interest
shall be due and payable on each Interest Payment Date or upon any
redemption or acceleration of this Note.

 

b)           Payment
Grace Period. Except as described in this Note, Borrower
shall not have any grace period to pay any monetary amounts due
under this Note.

 

c)          
Conversion
Privileges. The Conversion Rights set forth in Section 4
shall remain in full force and effect immediately from the date
hereof and until the Note is paid in full regardless of the
occurrence of an Event of Default. This Note shall be payable in
full on the Repurchase Date, if applicable, or the Maturity Date,
unless previously converted into Common Stock in accordance with
Section 4 hereof.

 

d)          
Application of
Payments. Interest on this Note shall be calculated on the
basis of a 360-day year and the actual number of days elapsed.
Payments made in connection with this Note shall be applied first
to amounts due hereunder other than principal and interest,
thereafter to interest and finally to principal.

 

 

5

 

 

e)          
Pari Passu. Except
as otherwise set forth herein, the Borrower shall treat this Note
pari passu with the
Permitted Indebtedness set forth on Schedule A or any other
Permitted Indebtedness of 10% convertible notes. All payments made,
or actions taken on the Permitted Indebtedness set forth on
Schedule A or any other Permitted Indebtedness of 10% convertible
notes, shall be made or taken pari
passu with this Note.

 

f)           Manner
and Place of Payment. Principal and interest on this Note
and other payments in connection with this Note shall be payable at
the Holder’s offices as designated above in lawful money of
the United States of America in immediately available funds without
set-off, deduction or counterclaim. Upon assignment of the interest
of Holder in this Note, Borrower shall instead make its payment
pursuant to the assignee’s instructions upon receipt of
written notice thereof. Except as set forth herein, this Note may
not be prepaid without the consent of the Holder.

 

g)           Prepayment.
Except pursuant to Section 2(h) or as otherwise set forth in this
Note, Borrower may not prepay any portion of the principal amount
of this Note without the prior written consent of the
Holder.

 

h)           Mandatory
Repurchase Offer. Within five (5) Trading Days following the
Repurchase Offer Trigger Date, Borrower shall cause to be delivered to the Holder
at its last address as it shall appear upon the Note Register, a
notice (a “Repurchase
Notice”) stating that
such Repurchase Offer Trigger Date has occurred and making an offer
to repurchase the Note (the “Repurchase
Offer”)  on a date
(the “Repurchase
Date”) specified by in
the Repurchase Notice, which may be no earlier than ten (10)
Trading Days and no later than Twenty (20) Trading Days after the
date of the Repurchase Notice, at a price in cash equal to 100% of
the aggregate principal amount of the Note plus accrued and unpaid
interest, if any, to, but excluding, the Repurchase Date (the
“Repurchase
Amount”). For a Note to
be repurchased at the option of the Holder pursuant to this Section
2(h), the Holder must deliver to Borrower, prior to the close of
business on the second (2nd)
Trading Day immediately prior to the Repurchase Date, written
notice of such election to participate (an
“Option of
Holder to Elect Purchase”). Following deliver by the
Holder of an Option of Holder to Elect to Purchase, the Repurchase
Amount shall be due and payable to the Holder in the manner set
forth in Section 2(f) on the Repurchase Date. Effective upon
receipt of the Repurchase Amounts by the Holder, the Note will be
deemed cancelled and extinguished and all rights of the Holder and
obligations of GT Biopharma and others thereunder hereunder will
terminate. Promptly following the Repurchase Date, but in any event
within ten (10) Trading Days thereafter unless delayed due to force
majeure—including pandemic related restrictions or
disruptions—the Holder shall return the original of this Note
to Borrower.

 

Section
3.       
   Registration of Transfers and
Exchanges.

 

a)
         Different Denominations. This
Note is exchangeable for an equal aggregate principal amount of
Notes of different authorized denominations, as requested by the
Holder surrendering the same. No service charge will be payable for
such registration of transfer or exchange.

 

b)
         Investment Representations.
This Note has been issued subject to certain representations of the
original Holder set forth in the Settlement Agreement and may be
transferred or exchanged only in compliance with the Settlement
Agreement and applicable federal and state securities laws and
regulations.

 

c)
         Reliance on Note Register.
Prior to due presentment for transfer to Borrower of this Note,
Borrower and any agent of Borrower may treat the Person in whose
name this Note is duly registered on the register of Notes (the
“Note
Register”) as the owner hereof for the purpose of
receiving payment as herein provided and for all other purposes,
whether or not this Note is overdue, and neither Borrower nor any
such agent shall be affected by notice to the
contrary.

 

 

6

 

 

Section
4.     
     Conversion.

 

a)
         Voluntary Conversion. At any
time after the Original Issue Date until this Note is no longer
outstanding, this Note, including interest accrued hereon, shall be
convertible, in whole or in part, into shares of Common Stock at
the option of the Holder, at any time and from time to time
(subject to the conversion limitations set forth in
Section 4(e) hereof). The Holder shall effect conversions by
delivering to Borrower a Notice of Conversion, the form of which is
attached hereto as Annex
A (each, a “Notice of Conversion”),
specifying therein the principal amount of this Note and accrued
interest, if any, to be converted and the date on which such
conversion shall be effected (such date, the “Conversion Date”). If no
Conversion Date is specified in a Notice of Conversion, the
Conversion Date shall be the date that such Notice of Conversion is
deemed delivered hereunder. To effect conversions hereunder, the
Holder shall not be required to physically surrender this Note to
Borrower unless the entire principal amount of this Note has been
so converted, in which case the Holder shall deliver the original
of this Note to Borrower no later than ten (10) Trading Days after
conversion. Conversions hereunder shall have the effect of lowering
the outstanding principal amount of this Note in an amount equal to
the applicable conversion. The Holder and Borrower shall maintain
records showing the principal amount(s) converted and the date of
such conversion(s). Borrower may deliver an objection to any Notice
of Conversion within one (1) Business Day of delivery of such
Notice of Conversion. In the event of any dispute or discrepancy,
the records of the Holder shall be controlling and determinative in
the absence of manifest error. The
Holder, and any assignee by acceptance of this Note, acknowledges
and agrees that, by reason of the provisions of this paragraph,
following conversion of a portion of this Note, the unpaid and
unconverted principal amount of this Note may be less than the
amount stated on the face hereof.

 

b)
         [Reserved].

 

c)           Conversion
Price. The conversion price for the principal and interest,
if any, in connection with voluntary conversions by the Holder
shall be $0.20 per share of
Common Stock, subject to adjustment herein (the “Conversion
Price”).

 

d)
         Mechanics of
Conversion.

 

i.       
  Conversion
Shares Issuable Upon Conversion of Principal Amount. The
number of Conversion Shares issuable upon a conversion hereunder
shall be determined by the quotient obtained by dividing (x) the
outstanding principal amount of this Note to be converted plus
interest, if any, elected by the Holder to be converted by (y) the
Conversion Price.

 

ii.         Delivery
of Conversion Shares Upon Conversion. In connection with
sales of the Conversion Shares, not later than two (2) Trading Days
after each Conversion Date (the “Share Delivery Date”),
Borrower shall deliver, or cause to be delivered, to the Holder the
Conversion Shares by crediting the Holder's or its designee's
balance account with The Depository Trust Company's Deposit /
Withdrawal At Custodian system, which Conversion Shares shall be
free of restrictive legends and trading restrictions representing
the number of Conversion Shares being acquired upon the conversion
of this Note.

 

iii.         Failure
to Deliver Conversion Shares. If, in the case of any Notice
of Conversion, such Conversion Shares are not delivered to or as
directed by the applicable Holder by the Share Delivery Date, the
Holder shall be entitled to elect by written notice to Borrower at
any time on or before its receipt of such Conversion Shares, to
rescind such Conversion, in which event Borrower shall promptly
return to the Holder any original Note delivered to Borrower and
the Holder shall promptly return to Borrower the Conversion Shares
issued to such Holder pursuant to the rescinded Conversion
Notice.

 

 

7

 

 

iv.         Obligation
Absolute. Borrower’s obligations to issue and deliver
the Conversion Shares upon conversion of this Note in accordance
with the terms hereof are absolute and unconditional, irrespective
of any action or inaction by the Holder to enforce the same, any
waiver or consent with respect to any provision hereof, the
recovery of any judgment against any Person or any action to
enforce the same, or any setoff, counterclaim, recoupment,
limitation or termination, or any breach or alleged breach by the
Holder or any other Person of any obligation to Borrower or any
violation or alleged violation of law by the Holder or any other
Person, and irrespective of any other circumstance which might
otherwise limit such obligation of Borrower to the Holder in
connection with the issuance of such Conversion Shares;
provided,
however, that such
delivery shall not operate as a waiver by Borrower of any such
action Borrower may have against the Holder. In the event the
Holder of this Note shall elect to convert any or all of the
outstanding principal amount hereof, Borrower may not refuse
conversion based on any claim that the Holder or anyone associated
or affiliated with the Holder has been engaged in any violation of
law, agreement or for any other reason, unless an injunction from a
court, on notice to Holder, restraining and or enjoining conversion
of all or part of this Note shall have been sought and obtained,
and Borrower posts a surety bond for the benefit of the Holder in
the amount of 150% of the outstanding principal amount of this
Note, which is subject to the injunction, which bond shall remain
in effect until the completion of arbitration/litigation of the
underlying dispute and the proceeds of which shall be payable to
the Holder to the extent it obtains judgment. In the absence of
such injunction, Borrower shall issue Conversion Shares or, if
applicable, cash, upon a properly noticed conversion. Nothing
herein shall limit a Holder’s right to pursue actual damages
or declare an Event of Default pursuant to Section 8 hereof for
Borrower’s failure to deliver Conversion Shares within the
period specified herein and the Holder shall have the right to
pursue all remedies available to it hereunder, at law or in equity
including, without limitation, a decree of specific performance
and/or injunctive relief. The exercise of any such rights shall not
prohibit the Holder from seeking to enforce damages pursuant to any
other Section hereof or under applicable law.

 

v.           Compensation
for Buy-In on Failure to Timely Deliver Conversion Shares Upon
Conversion. In addition to any other rights available to the
Holder, if Borrower fails for any reason to deliver to the Holder
such Conversion Shares by the Share Delivery Date pursuant to
Section 4(d)(ii), and if after such Share Delivery Date the Holder
is required by its brokerage firm to purchase (in an open market
transaction or otherwise), or the Holder or Holder’s
brokerage firm otherwise purchases, shares of Common Stock to
deliver in satisfaction of a sale by the Holder of the Conversion
Shares which the Holder was entitled to receive upon the conversion
relating to such Share Delivery Date (a “Buy-In”), then Borrower
shall (A) pay in cash to the Holder (in addition to any other
remedies available to or elected by the Holder) the amount, if any,
by which (x) the Holder’s total purchase price (including any
brokerage commissions) for the Common Stock so purchased exceeds
(y) the product of (1) the aggregate number of shares of Common
Stock that the Holder was entitled to receive from the conversion
at issue multiplied by (2) the actual sale price at which the sell
order giving rise to such purchase obligation was executed
(including any brokerage commissions) and (B) at the option of the
Holder, either reissue (if surrendered) this Note in a principal
amount equal to the principal amount of the attempted conversion
(in which case such conversion shall be deemed rescinded) or
deliver to the Holder the number of shares of Common Stock that
would have been issued if Borrower had timely complied with its
delivery requirements under Section 4(d)(ii). For example, if the
Holder purchases Common Stock having a total purchase price of
$11,000 to cover a Buy-In with respect to an attempted conversion
of this Note with respect to which the actual sale price of the
Conversion Shares (including any brokerage commissions) giving rise
to such purchase obligation was a total of $10,000 under clause (A)
of the immediately preceding sentence, Borrower shall be required
to pay the Holder $1,000. The Holder shall provide Borrower written
notice indicating the amounts payable to the Holder in respect of
the Buy-In and, upon request of Borrower, evidence of the amount of
such loss. Nothing herein shall limit a Holder’s right to
pursue any other remedies available to it hereunder, at law or in
equity including, without limitation, a decree of specific
performance and/or injunctive relief with respect to
Borrower’s failure to timely deliver Conversion Shares upon
conversion of this Note as required pursuant to the terms
hereof.

 

 

8

 

 

vi.         Reservation
of Shares Issuable Upon Conversion. Borrower covenants that
it will at all times reserve and keep available out of its
authorized and unissued shares of Common Stock for the sole purpose
of issuance upon conversion of this Note as herein provided, free
from preemptive rights or any other actual contingent purchase
rights of Persons other than the Holder, not less than 150% of the
aggregate number of shares of the Common Stock as shall be issuable
(taking into account the adjustments and restrictions of Section 5)
upon the conversion of the then outstanding principal amount of
this Note and interest which has accrued and would accrue on such
principal amount assuming such principal amount was not converted
through the Maturity Date. Borrower covenants that all shares of
Common Stock that shall be so issuable shall, upon issue, be duly
authorized, validly issued, fully paid and
non-assessable.

 

vii.         Fractional
Shares. No fractional shares or scrip representing
fractional shares shall be issued upon the conversion of this Note.
As to any fraction of a share which the Holder would otherwise be
entitled to purchase upon such conversion, Borrower shall at its
election, either pay a cash adjustment in respect of such final
fraction in an amount equal to such fraction multiplied by the
Conversion Price or round up to the next whole share.

 

viii.         Transfer
Taxes and Expenses. The issuance of Conversion Shares on
conversion of this Note shall be made without charge to the Holder
hereof for any documentary stamp or similar taxes that may be
payable in respect of the issue or delivery of such Conversion
Shares; provided
that, Borrower shall not be required to pay any tax that may be
payable in respect of any transfer involved in the issuance and
delivery of any such Conversion Shares upon conversion in a name
other than that of the Holder of this Note so converted and
Borrower shall not be required to issue or deliver such Conversion
Shares unless or until the Person or Persons requesting the
issuance thereof shall have paid to Borrower the amount of such tax
or shall have established to the satisfaction of Borrower that such
tax has been paid. Borrower shall pay all Transfer Agent fees
required for same-day processing of any Notice of
Conversion.

 

 

9

 

 

e)
          Holder’s
Conversion Limitations. Borrower shall not effect any
conversion of this Note, and a Holder shall not have the right to
convert any portion of this Note, to the extent that after giving
effect to the conversion set forth on the applicable Notice of
Conversion, the Holder (together with the Holder’s
Affiliates, and any Persons acting as a group together with the
Holder or any of the Holder’s Affiliates (such Persons,
“Attribution
Parties”)) would beneficially own in excess of the
Beneficial Ownership Limitation.  For purposes of the
foregoing sentence, the number of shares of Common Stock
beneficially owned by the Holder and its Affiliates shall include
the number of shares of Common Stock held by the Holder and its
Affiliates and Attribution Parties plus the number of shares of
Common Stock issuable upon conversion of this Note with respect to
which such determination is being made, but shall exclude the
number of shares of Common Stock which are issuable upon (i)
conversion of the remaining, unconverted principal amount of this
Note beneficially owned by the Holder or any of its Affiliates and
Attribution Parties and (ii) exercise or conversion of the
unexercised or unconverted portion of any other securities of
Borrower subject to a limitation on conversion or exercise
analogous to the limitation contained herein beneficially owned by
the Holder or any of its Affiliates or Attribution Parties. 
Except as set forth in the preceding sentence, for purposes of this
Section 4(e), beneficial ownership shall be calculated in
accordance with Section 13(d) of the Exchange Act and the rules and
regulations promulgated thereunder. To the extent that the
limitation contained in this Section 4(e) applies, the
determination of whether this Note is convertible (in relation to
other securities owned by the Holder together with any Affiliates)
and of which principal amount of this Note is convertible shall be
in the sole discretion of the Holder, and the submission of a
Notice of Conversion shall be deemed to be the Holder’s
determination of whether this Note may be converted (in relation to
other securities owned by the Holder together with any Affiliates
and Attribution Parties) and which principal amount of this Note is
convertible, in each case subject to the Beneficial Ownership
Limitation. To ensure compliance with this restriction, the Holder
will be deemed to represent to Borrower each time it delivers a
Notice of Conversion that such Notice of Conversion has not
violated the restrictions set forth in this paragraph and Borrower
shall have no obligation to verify or confirm the accuracy of such
determination. In addition, a determination as to any group status
as contemplated above shall be determined in accordance with
Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. For purposes of this Section 4(e), in
determining the number of outstanding shares of Common Stock, the
Holder may rely on the number of outstanding shares of Common Stock
as stated in the most recent of the following: (i) Borrower’s
most recent periodic or annual report filed with the SEC, as the
case may be, (ii) a more recent public announcement by Borrower, or
(iii) a more recent written notice by Borrower or Borrower’s
transfer agent setting forth the number of shares of Common Stock
outstanding.  Upon the written or oral request of a Holder,
Borrower shall within two (2) Trading Days confirm orally and in
writing to the Holder the number of shares of Common Stock then
outstanding.  In any case, the number of outstanding shares of
Common Stock shall be determined after giving effect to the
conversion or exercise of securities of Borrower, including this
Note, by the Holder or its Affiliates since the date as of which
such number of outstanding shares of Common Stock was reported. The
“Beneficial
Ownership Limitation” shall be 4.99% of the number of
shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock issuable upon
conversion of this Note held by the Holder. The Holder may decrease
the Beneficial Ownership Limitation at any time upon prior notice
to Borrower, and may increase the Beneficial Ownership Limitation
provided that the Beneficial Ownership Limitation in no event
exceeds 9.99% of the number of shares of the Common Stock
outstanding immediately after giving effect to the issuance of
shares of Common Stock upon conversion of this Note held by the
Holder and the Beneficial Ownership Limitation provisions of this
Section 4(e) shall continue to apply. Any such increase will not be
effective until the 61st day after such
notice is delivered to Borrower. The Beneficial Ownership
Limitation provisions of this paragraph shall be construed and
implemented in a manner otherwise than in strict conformity with
the terms of this Section 4(e) to correct this paragraph (or any
portion hereof) which may be defective or inconsistent with the
intended Beneficial Ownership Limitation contained herein or to
make changes or supplements necessary or desirable to properly give
effect to such limitation. The limitations contained in this
paragraph shall apply to a successor holder of this
Note.

 

 

10

 

 

Section 5.       
   Certain
Adjustments.

 

a)
         Stock Dividends and Stock
Splits. If Borrower, at any time while this Note is
outstanding: (i) pays a stock dividend or otherwise makes a
distribution or distributions payable in shares of Common Stock on
shares of Common Stock or any Common Stock Equivalents (which, for
avoidance of doubt, shall not include any shares of Common Stock
issued by Borrower upon conversion of the Notes or any other
Permitted Indebtedness that is convertible into Common Stock), (ii)
subdivides outstanding shares of Common Stock into a larger number
of shares, (iii) combines (including by way of a reverse stock
split) outstanding shares of Common Stock into a smaller number of
shares or (iv) issues, in the event of a reclassification of shares
of the Common Stock, any shares of capital stock of Borrower, then
the Conversion Price shall be multiplied by a fraction of which the
numerator shall be the number of shares of Common Stock (excluding
any treasury shares of Borrower) outstanding immediately before
such event, and of which the denominator shall be the number of
shares of Common Stock outstanding immediately after such event.
Any adjustment made pursuant to this Section shall become effective
immediately after the record date for the determination of
stockholders entitled to receive such dividend or distribution and
shall become effective immediately after the effective date in the
case of a subdivision, combination or
re-classification.

 

b)           Subsequent
Equity Sales. If, at any time while this Note is
outstanding, Borrower or any Subsidiary, as applicable, otherwise
sells or grants any option to purchase or sells or grants any right
to reprice, or otherwise disposes of or issues (or announces any
sale, grant or any option to purchase or other disposition), any
Common Stock or Common Stock Equivalents entitling any Person to
acquire Common Stock at an effective price per share that is lower
than the then Conversion Price (such lower price, the
“Base Conversion
Price” and such issuances, collectively, a
“Dilutive
Issuance”) (if the holder of the Common Stock or
Common Stock Equivalents so issued shall at any time, whether by
operation of purchase price adjustments, reset provisions, floating
conversion, exercise or exchange prices or otherwise, or due to
warrants, options or rights per share which are issued in
connection with such issuance, be entitled to receive Common Stock
at an effective price per share that is lower than the Conversion
Price, such issuance shall be deemed to have occurred for less than
the Conversion Price on such date of the Dilutive Issuance), then
the Conversion Price shall be reduced to equal the Base Conversion
Price, subject to adjustment for reverse and forward stock splits
and the like. Such adjustment shall be made whenever such Common
Stock or Common Stock Equivalents are issued. Notwithstanding the
foregoing, no adjustment will be made under this Section 5(b) in
respect of an Exempt Issuance. If Borrower enters into a Variable
Rate Transaction, despite the prohibition set forth in the
Settlement Agreement, Borrower shall be deemed to have issued
Common Stock or Common Stock Equivalents at the lowest possible
conversion price at which such securities may be converted or
exercised. Borrower shall notify the Holder in writing, no later
than the Trading Day following the issuance of any Common Stock or
Common Stock Equivalents subject to this Section 5(b), indicating
therein the applicable issuance price, or applicable reset price,
exchange price, conversion price and other pricing terms (such
notice, the “Dilutive Issuance
Notice”). For purposes of clarification, whether or
not Borrower provides a Dilutive Issuance Notice pursuant to this
Section 5(b), upon the occurrence of any Dilutive Issuance, the
Holder is entitled to receive a number of Conversion Shares based
upon the Base Conversion Price on or after the date of such
Dilutive Issuance, regardless of whether the Holder accurately
refers to the Base Conversion Price in the Notice of
Conversion.

 

 

11

 

 

c)
         Subsequent Rights Offerings.
In addition to any adjustments
pursuant to Sections 5(a) and (b) above, if at any time Borrower
grants, issues or sells any Common Stock Equivalents or rights to
purchase stock, warrants, securities or other property pro rata to
the record holders of any class of shares of Common Stock (the
“Purchase
Rights”), then the Holder
will be entitled to acquire, upon the terms applicable to such
Purchase Rights, the aggregate Purchase Rights which the Holder
could have acquired if the Holder had held the number of shares of
Common Stock acquirable upon complete conversion of this Note
(without regard to any limitations on exercise hereof, including
without limitation, the Beneficial Ownership Limitation)
immediately before the date on which a record is taken for the
grant, issuance or sale of such Purchase Rights, or, if no such
record is taken, the date as of which the record holders of shares
of Common Stock are to be determined for the grant, issue or sale
of such Purchase Rights (provided, however, to the extent that the
Holder’s right to participate in any such Purchase Right
would result in the Holder exceeding the Beneficial Ownership
Limitation, then the Holder shall not be entitled to participate in
such Purchase Right to such extent (or beneficial ownership of such
shares of Common Stock as a result of such Purchase Right to such
extent) and such Purchase Right to such extent shall be held in
abeyance for the Holder until such time, if ever, as its right
thereto would not result in the Holder exceeding the Beneficial
Ownership Limitation).

 

d)           Pro
Rata Distributions. During such time as this Note is
outstanding, if Borrower shall declare or make any dividend whether
or not permitted, or makes any other distribution of its assets (or
rights to acquire its assets) to holders of shares of Common Stock,
by way of return of capital or otherwise (including, without
limitation, any distribution of cash, stock or other securities,
property or options by way of a dividend, spin off,
reclassification, corporate rearrangement, scheme of arrangement or
other similar transaction) (a “Distribution”), at any
time after the issuance of this Note, then, in each such case, the
Holder shall be entitled to participate in such Distribution to the
same extent that the Holder would have participated therein if the
Holder had held the number of shares of Common Stock acquirable
upon complete exercise of this Note (without regard to any
limitations on exercise hereof, including without limitation, the
Beneficial Ownership Limitation) immediately before the date of
which a record is taken for such Distribution, or, if no such
record is taken, the date as of which the record holders of shares
of Common Stock are to be determined for the participation in such
Distribution (provided, however, to the extent that the
Holder's right to participate in any such Distribution would result
in the Holder exceeding the Beneficial Ownership Limitation, then
the Holder shall not be entitled to participate in such
Distribution to such extent (or in the beneficial ownership of any
shares of Common Stock as a result of such Distribution to such
extent) and the portion of such Distribution shall be held in
abeyance for the benefit of the Holder until such time, if ever, as
its right thereto would not result in the Holder exceeding the
Beneficial Ownership Limitation).

 

 

12

 

 

e)
         Fundamental Transaction. If, at
any time while this Note is outstanding, (i) Borrower, directly or
indirectly, in one or more related transactions effects any merger
or consolidation of Borrower with or into another Person, (ii)
Borrower, directly or indirectly, effects any sale, lease, license,
assignment, transfer, conveyance or other disposition of all or
substantially all of its assets in one or a series of related
transactions, (iii) any, direct or indirect, purchase offer, tender
offer or exchange offer (whether by Borrower or another Person) is
completed pursuant to which holders of Common Stock are permitted
to sell, tender or exchange their shares for other securities, cash
or property and has been accepted by the holders of 50% or more of
the outstanding Common Stock, (iv) Borrower, directly or
indirectly, in one or more related transactions effects any
reclassification, reorganization or recapitalization of the Common
Stock or any compulsory share exchange pursuant to which the Common
Stock is effectively converted into or exchanged for other
securities, cash or property (other than, for the avoidance of
doubt any subdivision, combination or re-classification described
in Section 5(a)), (v) Borrower, directly or indirectly, in one or
more related transactions consummates a stock or share purchase
agreement or other business combination (including, without
limitation, a reorganization, recapitalization, spin-off or scheme
of arrangement) with another Person whereby such other Person
acquires more than 50% of the outstanding shares of Common Stock
(not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated
with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a
“Fundamental
Transaction”), then, upon any subsequent conversion of
this Note, the Holder shall have the right to receive, for each
Conversion Share that would have been issuable upon such conversion
immediately prior to the occurrence of such Fundamental Transaction
(without regard to any limitation in Section 4(e) on the conversion
of this Note), the number of shares of Common Stock of the
successor or acquiring corporation or of Borrower, if it is the
surviving corporation, and any additional consideration (the
“Alternate
Consideration”) receivable as a result of such
Fundamental Transaction by a holder of the number of shares of
Common Stock for which this Note is convertible immediately prior
to such Fundamental Transaction (without regard to any limitation
in Section 4(e) on the conversion of this Note). For purposes of
any such conversion, the determination of the Conversion Price
shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration
issuable in respect of one (1) share of Common Stock in such
Fundamental Transaction, and Borrower shall apportion the
Conversion Price among the Alternate Consideration in a reasonable
manner reflecting the relative value of any different components of
the Alternate Consideration. If holders of Common Stock are given
any choice as to the securities, cash or property to be received in
a Fundamental Transaction, then the Holder shall be given the same
choice as to the Alternate Consideration it receives upon any
conversion of this Note following such Fundamental Transaction.
Borrower shall cause any successor entity in a Fundamental
Transaction in which Borrower is not the survivor (the
“Successor
Entity”) to assume in writing all of the obligations
of Borrower under this Note and the other Settlement Documents in
accordance with the provisions of this Section 5(e) pursuant to
written agreements in form and substance reasonably satisfactory to
the Holder (which approval shall not be unreasonably withheld,
delayed or conditioned) prior to such Fundamental Transaction and
shall, at the option of the holder of this Note, deliver to the
Holder in exchange for this Note a security of the Successor Entity
evidenced by a written instrument substantially similar in form and
substance to this Note which is convertible for a corresponding
number of shares of capital stock of such Successor Entity (or its
parent entity) equivalent to the shares of Common Stock acquirable
and receivable upon conversion of this Note (without regard to any
limitations on the conversion of this Note) prior to such
Fundamental Transaction, and with a conversion price which applies
the conversion price hereunder to such shares of capital stock (but
taking into account the relative value of the shares of Common
Stock pursuant to such Fundamental Transaction and the value of
such shares of capital stock, such number of shares of capital
stock and such conversion price being for the purpose of protecting
the economic value of this Note immediately prior to the
consummation of such Fundamental Transaction), and which is
reasonably satisfactory in form and substance to the Holder (which
approval shall not be unreasonably withheld, delayed or
conditioned). Upon the occurrence of any such Fundamental
Transaction, the Successor Entity shall succeed to, and be
substituted for (so that from and after the date of such
Fundamental Transaction, the provisions of this Note and the
Settlement Agreement referring to the “Borrower” shall
refer instead to the Successor Entity), and may exercise every
right and power of Borrower and shall assume all of the obligations
of Borrower under this Note and the other Settlement Documents with
the same effect as if such Successor Entity had been named as
Borrower herein.

 

f)           Calculations.
All calculations under this Section 5 shall be made to the nearest
cent or the nearest 1/100th of a share, as the case may be. For
purposes of this Section 5, the number of shares of Common Stock
deemed to be issued and outstanding as of a given date shall be the
sum of the number of shares of Common Stock (excluding any treasury
shares of Borrower) issued and outstanding.

 

 

13

 

 

             

g)
         Notice to the
Holder.

 

i.            Adjustment
to Conversion Price. Whenever the Conversion Price is
adjusted pursuant to any provision of this Section 5, Borrower
shall promptly deliver to each Holder a notice setting forth the
Conversion Price after such adjustment and setting forth a brief
statement of the facts requiring such adjustment.

 

ii.       
  Notice to
Allow Conversion by Holder. If (A) Borrower shall declare a
dividend (or any other distribution in whatever form) on the Common
Stock, (B) Borrower shall declare a special nonrecurring cash
dividend on or a redemption of the Common Stock, (C) Borrower shall
authorize the granting to all holders of the Common Stock of rights
or warrants to subscribe for or purchase any shares of capital
stock of any class or of any rights, (D) the approval of any
stockholders of Borrower shall be required in connection with any
reclassification of the Common Stock, any consolidation or merger
to which Borrower is a party, any sale or transfer of all or
substantially all of the assets of Borrower, or any compulsory
share exchange whereby the Common Stock is converted into other
securities, cash or property or (E) Borrower shall authorize the voluntary or
involuntary dissolution, liquidation or winding up of the affairs
of Borrower, then, in each case, Borrower shall cause to be filed
at each office or agency maintained for the purpose of conversion
of this Note, and shall cause to be delivered to the Holder at its
last address as it shall appear upon the Note Register, at least
twenty (20) calendar days prior to the applicable record or
effective date hereinafter specified, a notice stating (x)
the date on which a record is to be taken for the purpose of such
dividend, distribution, redemption, rights or warrants, or if a
record is not to be taken, the date as of which the holders of the
Common Stock of record to be entitled to such dividend,
distributions, redemption, rights or warrants are to be determined
or (y) the date on which such reclassification, consolidation,
merger, sale, transfer or share exchange is expected to become
effective or close, and the date as of which it is expected that
holders of the Common Stock of record shall be entitled to exchange
their shares of the Common Stock for securities, cash or other
property deliverable upon such reclassification, consolidation,
merger, sale, transfer or share exchange, provided that the failure
to deliver such notice or any defect therein or in the delivery
thereof shall not affect the validity of the corporate action
required to be specified in such notice. To the extent that any
notice provided hereunder constitutes, or contains, material,
non-public information regarding Borrower or any of the
Subsidiaries, Borrower shall simultaneously file such notice with
the SEC pursuant to a Current Report on Form 8-K. The Holder shall
remain entitled to convert this Note during the 20-day period
commencing on the date of such notice through the effective date of
the event triggering such notice except as may otherwise be
expressly set forth herein.

 

Section
6.          
[Intentionally Omitted]

 

Section
7.          
Negative Covenants.
As long as any portion of this Note remains outstanding, unless the
Holder shall have otherwise given prior written consent, Borrower
shall not directly or indirectly:

 

a)           other
than Permitted Indebtedness, enter into, create, incur, assume,
guarantee or suffer to exist any Indebtedness for borrowed money of
any kind, including, but not limited to, a guarantee, on or with
respect to any of its property or assets now owned or hereafter
acquired or any interest therein or any income or profits
therefrom;

 

b)           other
than Permitted Liens, enter into, create, incur, assume or suffer
to exist any Liens of any kind, on or with respect to any of its
property or assets now owned or hereafter acquired or any interest
therein or any income or profits
therefrom; 

 

 

14

 

 

c)           amend
its charter documents, including, without limitation, its restated
certificate of incorporation and bylaws, in any manner that
materially and adversely affects any rights of the Holder;
provided,
however,
the consent of the Holder shall not be required in connection with
an increase in the authorized shares by
Borrower;

 

d)           repay,
repurchase or offer to repay, repurchase or otherwise acquire any
shares of its Common Stock or Common Stock Equivalents other than
(i) as to the Conversion Shares or such shares of Common Stock that
may be issued upon conversion of Permitted Indebtedness having
terms similar to the Notes, in each case, in connection with the
payment of cash in lieu of fractional shares or (ii) with respect
to Common Stock Equivalents, to the extent permitted by Section
7(e) below;

 

e)           redeem,
defease, repurchase, repay or make any payments in respect of, by
the payment of cash or cash equivalents (in whole or in part,
whether by way of open market purchases, tender offers, private
transactions or otherwise), all or any portion of any Indebtedness
(other than (i) required payment, prepayment or redemption of
principal, premium and interest in respect of Permitted
Indebtedness and the Notes or (ii) other payments with respect to
Permitted Indebtedness or the Notes, if on a pro-rata basis),
whether by way of payment in respect of principal of (or premium,
if any) or interest on, such Indebtedness. The foregoing
restriction shall also apply to Permitted Indebtedness from and
after the occurrence of an Event of Default;

 

f)           declare
or make any dividend or other distribution of its assets or rights
to acquire its assets to holders of shares of Common Stock, by way
of return of capital or otherwise including, without limitation,
any distribution of cash, stock or other securities, property or
options by way of a dividend, spin off, reclassification,
liquidation, distribution, preferential payments in connection with
any securities or debt issuances, corporate rearrangement, scheme
of arrangement or other similar transaction;

 

g)           enter
into any transaction with any Affiliate of Borrower which would be
required to be disclosed by a company subject to the reporting
requirements of Section 12(g) of the Exchange Act in any public
filing with the SEC, unless such transaction is made on reasonable
commercial terms and expressly approved by either (i) a majority of
the disinterested directors of Borrower (even if less than a quorum
otherwise required for board approval) or (ii) all of the
directors; or

 

h)           enter
into any agreement with respect to any of the foregoing.

 

Section
8.          
  Events of
Default.

 

a)
         
“Event of
Default” means, wherever used herein, any of the
following events (whatever the reason for such event and whether
such event shall be voluntary or involuntary or effected by
operation of law or pursuant to any judgment, decree or order of
any court, or any order, rule or regulation of any administrative
or governmental body):

 

i.           any
default in the payment of (A) the principal amount of this Note and
(B) interest, and other amounts owing to a Holder of this Note, as
and when the same shall become due and payable (whether on a
Conversion Date, the Repurchase Date or the Maturity Date or by
acceleration or otherwise) which default, solely in the case of a
default under clause (B) above, is not cured within three (3)
Trading Days after Borrower has become aware of such
default;

 

ii.         Borrower
shall fail to observe or perform any other material covenant or
agreement contained in this Note (other than a breach by Borrower
of its obligations to deliver shares of Common Stock to the Holder
upon conversion, which breach is addressed in clause (viii) below)
which failure is not cured, if possible to cure, within the earlier
to occur of (A) five (5) Trading Days
after notice of such failure sent by the Holder or by any Other
Holder to Borrower and (B) ten (10) Trading Days after Borrower has
become aware of such failure;

 

iii.          a
material default or event of default (subject to any grace or cure
period provided in the applicable agreement, document or
instrument) shall occur under any material agreement, lease,
document or instrument to which Borrower or any Subsidiary is
obligated (and not covered by clause (vi) below), which would
reasonably be expected to have a Material Adverse
Effect;

 

iv.         any
material representation or
warranty made in this Note, any other Settlement Document or any
other report, financial statement or certificate made or delivered
to the Holder shall be untrue or incorrect in any material respect
as of the date when made or deemed made;

 

 

15

 

 

v.           Borrower
or any Subsidiary shall be subject to a Bankruptcy
Event;

 

vi.         Borrower
or any Subsidiary shall default on any of its obligations under any
mortgage, credit agreement or other facility, indenture agreement,
factoring agreement or other instrument under which there may be
issued, or by which there may be secured or evidenced, any
Indebtedness for borrowed money or money due under any long term
leasing or factoring arrangement that (a) involves an obligation
greater than $50,000, whether such Indebtedness now exists or shall
hereafter be created, and (b) results in such Indebtedness being
declared due and payable prior to the date on which it would
otherwise become due and payable;

 

vii.         Borrower
or any Subsidiary shall default on any note or debt with the Empery
Funds on or after January 31, 2021;

 

viii.       
Borrower shall be a party to any Change of Control Transaction or
Fundamental Transaction or disposition of all or in excess of 30%
of its assets in one transaction or a series of related
transactions (whether or not such sale would constitute a Change of
Control Transaction);

 

ix.        
 Borrower shall fail for any reason to deliver Conversion
Shares to a Holder prior to the fifth (5th) Trading Day after
a Conversion Date pursuant to Section 4(d) or Borrower shall
provide at any time notice to the Holder, including by way of
public announcement, of Borrower’s intention to not honor
requests for conversions of any Notes in accordance with the terms
hereof;

 

x.       
Borrower shall fail to observe or perform any material covenant or
agreement set forth in any other Settlement Document, which breach
is not cured within any allowed cure period;

 

xi.       
 any monetary judgment, writ or similar final process shall be
entered or filed against Borrower, or any of its respective
property or other assets for more than $50,000, and such judgment,
writ or similar final process shall remain unvacated, unbonded,
unstayed, unsettled, unsatisfied, or unpaid for a period of ninety
(90) calendar days;

 

xii.         
any dissolution, liquidation or winding up by Borrower, of a
substantial portion of its business;

 

xiii.        
cessation of operations by Borrower;

 

xiv.        
the failure by Borrower or any material Subsidiary to maintain any
material intellectual property rights, personal, real property,
equipment, leases or other assets which are necessary to conduct
its business (whether now or in the future) and such breach is not
cured with twenty (20) days after written notice to Borrower from
the Holder;

 

xv.
         the Conversion Shares are no
longer listed, quoted or are otherwise delisted from the then
principal Trading Market;

 

 

16

 

 

xvi.        
a Commission or judicial stop trade order or suspension from
Borrower’s then principal Trading Market;

 

xvii.       
the restatement after the date hereof of any financial statements
filed by Borrower with the SEC for any date or period from the
Original Issue Date and until this Note is no longer outstanding,
if the result of such restatement would, by comparison to the
unrestated financial statements, have constituted a Material
Adverse Effect. For the avoidance of doubt, any restatement related
to new accounting pronouncements shall not constitute a default
under this Section;

 

xviii.      
Borrower effectuates a reverse split of its Common Stock without
five (5) days prior written notice to the Holder;

 

xix:        
There is an event of default with
respect to any one of the July 7, 2019 Debentures;
or

 

xx.         
any material provision of any Settlement Document shall at any time
for any reason (other than pursuant to the express terms thereof)
cease to be valid and binding on or enforceable against Borrower,
or the validity or enforceability thereof shall be contested by
Borrower, or a proceeding shall be commenced by Borrower or any
governmental authority having jurisdiction over Borrower or Holder,
seeking to establish the invalidity or unenforceability thereof, or
Borrower shall deny in writing that it has any liability or
obligation purported to be created under any Settlement
Document.

 

In the
event more than one grace, cure or notice period is applicable to
an Event of Default, then the shortest grace, cure or notice period
shall be applicable thereto. If the Event of Default is due to
Borrower or any Subsidiary defaulting on any note or debt with the
Empery Funds on or after January 31, 2021, the Maturity Date on
this Note shall be accelerated to January 31, 2021 and in no case
will Borrower’s debt to Holder be subordinate to
Borrower’s debt to the Empery Funds.

 

b)
         Remedies Upon Event of Default,
Fundamental Transaction and Change of Control Transaction.
If any Event of Default or a Fundamental Transaction or a Change of
Control Transaction occurs, the outstanding principal amount of
this Note, and other amounts owing in respect thereof through the
date of acceleration, shall become, at the Holder’s election,
immediately due and payable in cash at the Mandatory Default
Amount, except that upon an Event of Default pursuant to Section
8(a)(v), Borrower shall immediately pay the Mandatory Default
Amount to the Holder without the requirement for any notice or
demand or other action by the Holder or any other Person;
provided that the
Holder may, in its sole discretion, waive such right to receive
payment upon an Event of Default pursuant to Section 8(a)(v), in
whole or in part, and any such waiver shall not affect any other
rights of the Holder hereunder, including any other rights in
respect of such Event of Default, any right to conversion, and any
right to payment of the Mandatory Default Amount or any other
amount, as applicable. Commencing on the Maturity Date and also
five (5) days after the occurrence of any Event of Default interest
on this Note shall accrue at an interest rate equal to the lesser
of 18% per annum or the maximum rate permitted under applicable
law. Upon the payment in full of the Mandatory Default Amount, the
Holder shall promptly surrender this Note to or as directed by
Borrower. In connection with such acceleration described herein,
the Holder need not provide, and Borrower hereby waives, any
presentment, demand, protest or other notice of any kind, and the
Holder may immediately and without expiration of any grace period
enforce any and all of its rights and remedies hereunder and all
other remedies available to it under applicable law. Such
acceleration may be rescinded and annulled by Holder at any time
prior to payment hereunder and the Holder shall have all rights as
a holder of the Note until such time, if any, as the Holder
receives full payment pursuant to this Section 8(b). No such
rescission or annulment shall affect any subsequent Event of
Default or impair any right consequent thereon.

 

 

17

 

 

Section
9.        
Miscellaneous.

 

a)
         Notices. All notices, demands, requests, consents,
approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall
be (i) personally served, (ii) deposited in the mail, registered or
certified, return receipt requested, postage prepaid, (iii)
delivered by reputable air courier service with charges prepaid, or
(iv) transmitted by hand delivery, telegram, facsimile, or
electronic mail, addressed as set forth below or to such other
address as such party shall have specified most recently by written
notice. Any notice or other communication required or permitted to
be given hereunder shall be deemed effective (a) upon hand delivery
or delivery by facsimile, with accurate confirmation generated by
the transmitting facsimile machine, at the address or number
designated below (if delivered on a business day during normal
business hours where such notice is to be received), or the first
business day following such delivery (if delivered other than on a
business day during normal business hours where such notice is to
be received), or (b) upon receipt, when sent by electronic mail
(provided confirmation of transmission is electronically generated
and keep on file by the sending party), or (c) on the second
business day following the date of mailing by express courier
service, fully prepaid, addressed to such address, or upon actual
receipt of such mailing, whichever shall first occur. The addresses
for such communications shall be: (i) if to Borrower, to: GT
Biopharma, Inc., 9350 Wilshire Blvd, Suite 203, Beverly
Hills, CA 90212, Attn: Chief Executive
Officer (with a copy emailed to ajc@gtbiopharma.com), with a copy
to (which shall not constitute notice): Perrie Weiner at
perrie.weiner@bakermckenzie.com, and (ii) if to the Holder,
to: the address and email indicated on the front page of this
Note.

 

b)
         Absolute Obligation. Except as
expressly provided herein, no provision of this Note shall alter or
impair the obligation of Borrower, which is absolute and
unconditional, to pay (A) the principal amount of this Note and (B)
interest, and other amounts owing to a Holder of this Note, at the
time, place, and rate, and in the coin or currency, herein
prescribed. This Note is a direct debt obligation of Borrower. This
Note ranks pari
passu with all
other Notes now or hereafter issued under the terms set forth
herein.         

 

c)
         Lost or Mutilated Note. If this
Note shall be mutilated, lost, stolen or destroyed, Borrower shall
execute and deliver, in exchange and substitution for and upon
cancellation of a mutilated Note, or in lieu of or in substitution
for a lost, stolen or destroyed Note, a new Note for the principal
amount of this Note so mutilated, lost, stolen or destroyed, but
only upon receipt of evidence of such loss, theft or destruction of
such Note, and of the ownership hereof, reasonably satisfactory to
Borrower.

 

 

18

 

 

d)
         Governing Law. All questions
concerning the construction, validity, enforcement and
interpretation of this Note shall be governed by and construed and
enforced in accordance with the internal laws of the State of New
York, without regard to the principles of conflict of laws thereof.
Each party agrees that all legal proceedings concerning the
interpretation, enforcement and defense of the transactions
contemplated by any of the Settlement Documents (whether brought
against a party hereto or its respective Affiliates, directors,
officers, shareholders, employees or agents) shall be commenced in
the state and federal courts sitting in the City of New York,
Borough of Manhattan (the “New York Courts”). Each
party hereto hereby irrevocably submits to the exclusive
jurisdiction of the New York Courts for the adjudication of any
dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein (including with respect to
the enforcement of any of the Settlement Documents), and hereby
irrevocably waives, and agrees not to assert in any suit, action or
proceeding, any claim that it is not personally subject to the
jurisdiction of such New York Courts, or such New York Courts are
improper or inconvenient venue for such proceeding. Each party
hereby irrevocably waives personal service of process and consents
to process being served in any such suit, action or proceeding by
mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the
address in effect for notices to it under this Note and agrees that
such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any other
manner permitted by applicable law. Each party hereto hereby
irrevocably waives, to the fullest extent permitted by applicable
law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Note or the transactions
contemplated hereby. If any party shall commence an action or
proceeding to enforce any provisions of this Note, then the
prevailing party in such action or proceeding shall be reimbursed
by the other party for its attorney's fees and other costs and
expenses incurred in the investigation, preparation and prosecution
of such action or proceeding. This
Note shall be deemed an unconditional obligation of Borrower for
the payment of money and, without limitation to any other remedies
of Holder, may be enforced against Borrower by summary proceeding
pursuant to New York Civil Procedure Law and Rules Section 3213 or
any similar rule or statute in the jurisdiction where enforcement
is sought. For purposes of such rule or statute, any other document
or agreement to which Holder and Borrower are parties or which
Borrower delivered to Holder, which may be convenient or necessary
to determine Holder’s rights hereunder or Borrower’s
obligations to Holder are deemed a part of this Note, whether or
not such other document or agreement was delivered together
herewith or was executed apart from this Note.

 

e)
         Waiver. Any waiver by Borrower
or the Holder of a breach of any provision of this Note shall not
operate as or be construed to be a waiver of any other breach of
such provision or of any breach of any other provision of this
Note. The failure of Borrower or the Holder to insist upon strict
adherence to any term of this Note on one or more occasions shall
not be considered a waiver or deprive that party of the right
thereafter to insist upon strict adherence to that term or any
other term of this Note on any other occasion. Any waiver by
Borrower or the Holder must be in writing.

 

f)         Severability.
If any provision of this Note is invalid, illegal or unenforceable,
the balance of this Note shall remain in effect, and if any
provision is inapplicable to any Person or circumstance, it shall
nevertheless remain applicable to all other Persons and
circumstances.

 

g)
       Usury. If it shall be found
that any interest or other amount deemed interest due hereunder
violates the applicable law governing usury, the applicable rate of
interest due hereunder shall automatically be lowered to equal the
maximum rate of interest permitted under applicable law. Borrower
covenants (to the extent that it may lawfully do so) that it shall
not at any time insist upon, plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay, extension or
usury law or other law which would prohibit or forgive Borrower
from paying all or any portion of the principal of or interest on
this Note as contemplated herein, wherever enacted, now or at any
time hereafter in force, or which may affect the covenants or the
performance of this Note, and Borrower (to the extent it may
lawfully do so) hereby expressly waives all benefits or advantage
of any such law, and covenants that it will not, by resort to any
such law, hinder, delay or impede the execution of any power herein
granted to the Holder, but will suffer and permit the execution of
every such as though no such law has been enacted.

 

h)
       Next Business Day. Whenever any
payment or other obligation hereunder shall be due on a day other
than a Business Day, such payment shall be made on the next
succeeding Business Day.

 

i)         Headings.
The headings contained herein are for convenience only, do not
constitute a part of this Note and shall not be deemed to limit or
affect any of the provisions hereof.

 

j)         Amendment.
This Note may be amended and any provisions hereof may be waived by
written consent of Borrower and the
Majority in Interest.

 

k)
       Facsimile Signature. In the
event that Borrower’s signature is delivered by facsimile
transmission, PDF, electronic signature or other similar electronic
means, such signature shall create a valid and binding obligation
of Borrower with the same force and effect as if such signature
page were an original thereof.

 

*********************

 

(Signature Page Follows)

 

19

 

IN WITNESS WHEREOF, Borrower has caused
this Note to be signed in its name by an authorized officer as of
the Original Issue Date set out above.

 

 

                                                                 

GT
BIOPHARMA, INC.

 

 

By: /s/ Anthony
Cataldo          

Name:
Anthony Cataldo

Title:
Chief Executive Officer

 

[Signature Page—Settlement Note]

 

 

 

ANNEX A

 

NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert principal under the
Convertible Note due January 31, 2021 of GT Biopharma, Inc., a
Delaware corporation (the “Borrower”), into shares
of common stock (the “Common Stock”), of
Borrower according to the conditions hereof, as of the date written
below. If shares of Common Stock are to be issued in the name of a
person other than the undersigned, the undersigned will pay all
transfer taxes payable with respect thereto and is delivering
herewith such certificates and opinions as reasonably requested by
Borrower in accordance therewith. No fee will be charged to the
holder for any conversion, except for such transfer taxes, if
any.

 

By the
delivery of this Notice of Conversion the undersigned represents
and warrants to Borrower that its ownership of the Common Stock
does not exceed the amounts specified under Section 4(e) of this
Note, as determined in accordance with Section 13(d) of the
Exchange Act.

 

The
undersigned agrees to comply with the prospectus delivery
requirements under the applicable securities laws in connection
with any transfer of the aforesaid shares of Common
Stock.

 

Conversion
calculations:

	
 

	

Date to
Effect Conversion: ____________________________

	
 

	
 

	
 

	

Principal
Amount of Note to be Converted: $__________________

	
 

	
 

	
 

	

Accrued
Interest to be Converted, if any: $______________

	
 

	
 

	
 

	

Conversion
Price: $_________________

	
 

	
 

	
 

	

Number
of shares of Common Stock to be issued: ______________

	
 

	
 

	
 

	

Signature:
_________________________________________

	
 

	
 

	
 

	

Name:
____________________________________________

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

DWAC
Instructions: _________________________________

	
 

	
 

	
 

	

Broker
No:_____________

	
 

	

Account
No: _______________

  

 

 

 

 

SCHEDULE A (PERMITTED INDEBTEDNESS)

 

 

 

1.

Indebtedness incurred with respect to the $25,647,227 aggregate
principal amount of convertible notes and 10% senior convertible
debentures outstanding on the Original Issue Date (including
additional Indebtedness constituting default amounts and accrued
interest with respect to such convertible note and
debentures).

 

2.

Indebtedness incurred with respect the lease agreement, dated
October 1, 2018, between Borrower and Sheffield Properties of
Illinois, Inc. relating to Borrower’s principal officers in
Westlake Village, California.

 

3.

Indebtedness incurred with respect to the financing agreement,
dated November 8, 2010, with Gemini Pharmaceuticals, Inc. relating
to a purchase order line of credit facility.EX-10.1

 Exhibit 10.1 

Published Deal CUSIP: 93143DAU8 

Published 364-Day Revolving Facility CUSIP: 93143DAW4 

Published 18-Month Revolving Facility CUSIP: 93143DAV6 

$3,500,000,000 

REVOLVING CREDIT AGREEMENT 

DATED AS OF DECEMBER 23, 2020 

AMONG 
 WALGREENS BOOTS
ALLIANCE, INC., 
 THE DESIGNATED BORROWERS FROM TIME TO TIME PARTY HERETO, 

THE LENDERS FROM TIME TO TIME PARTIES HERETO, 

and 
 WELLS FARGO BANK,
NATIONAL ASSOCIATION, 
 as Administrative Agent and Swing Line Lender 

and 
 WELLS FARGO
SECURITIES, LLC, 
 BOFA SECURITIES, INC. and 

JPMORGAN CHASE BANK, N.A., 

as Joint Lead Arrangers and Joint Bookrunners 

BANK OF AMERICA, N.A. and 

JPMORGAN CHASE BANK, N.A., 

as Co-Syndication Agents 

CITIBANK, N.A., 

DEUTSCHE BANK SECURITIES INC., 

HSBC SECURITIES (USA) INC., 

INTESA SANPAOLO S.P.A., NEW YORK BRANCH, 

MIZUHO BANK, LTD., 

NATIONAL WESTMINSTER BANK PLC, 

SUMITOMO MITSUI BANKING CORPORATION, 

U.S. BANK NATIONAL ASSOCIATION and 

UNICREDIT BANK AG, NEW YORK BRANCH, 

as Co-Documentation Agents 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	ARTICLE I	  	 	 
	DEFINITIONS	  	 	 
			
	 Section 1.01
	 	Certain Defined Terms	  	 	1	 
	 Section 1.02
	 	References	  	 	26	 
	 Section 1.03
	 	Exchange Rates, Basket Calculations, Eurocurrency Rate and Eurocurrency Base Rate	  	 	27	 
	 Section 1.04
	 	Change of Currency	  	 	28	 
		
	ARTICLE II	  	 	 
	THE CREDITS	  	 	 
			
	 Section 2.01
	 	Revolving Loans	  	 	29	 
	 Section 2.02
	 	Swing Line Loans	  	 	31	 
	 Section 2.03
	 	Extension of Maturity Date	  	 	34	 
	 Section 2.04
	 	Types of Revolving Loans	  	 	36	 
	 Section 2.05
	 	Fees; Reductions in Aggregate Commitment	  	 	36	 
	 Section 2.06
	 	[Reserved]	  	 	37	 
	 Section 2.07
	 	Prepayments and Repayments	  	 	37	 
	 Section 2.08
	 	Method of Selecting Types and Interest Periods for New Revolving Loans	  	 	39	 
	 Section 2.09
	 	Conversion and Continuation of Outstanding Loans	  	 	41	 
	 Section 2.10
	 	Interest Rates	  	 	42	 
	 Section 2.11
	 	Rates Applicable After Default	  	 	42	 
	 Section 2.12
	 	Method of Payment	  	 	42	 
	 Section 2.13
	 	Noteless Agreement; Evidence of Indebtedness	  	 	43	 
	 Section 2.14
	 	Interest Payment Dates; Interest and Fee Basis	  	 	44	 
	 Section 2.15
	 	Notification of Loans, Interest Rates, Prepayments and Commitment Reductions; Availability of Loans	  	 	44	 
	 Section 2.16
	 	Lending Installations	  	 	45	 
	 Section 2.17
	 	Payments Generally; Administrative Agent’s Clawback	  	 	45	 
	 Section 2.18
	 	Replacement of Lender	  	 	46	 
	 Section 2.19
	 	Sharing of Payments by Lenders	  	 	47	 
	 Section 2.20
	 	Defaulting Lenders	  	 	48	 
	 Section 2.21
	 	Designated Borrowers	  	 	50	 
		
	ARTICLE III	  	 	 
	YIELD PROTECTION; TAXES	  	 	 
			
	 Section 3.01
	 	Yield Protection	  	 	51	 
	 Section 3.02
	 	Changes in Capital Adequacy Regulations; Certificates for Reimbursement; Delay in Requests	  	 	52	 
	 Section 3.03
	 	Illegality	  	 	53	 

  
 i 

							
	 Section 3.04
	 	Compensation for Losses	  	 	54	 
	 Section 3.05
	 	Taxes	  	 	54	 
	 Section 3.06
	 	Mitigation Obligations	  	 	59	 
	 Section 3.07
	 	Inability to Determine Rates	  	 	59	 
	 Section 3.08
	 	Survival	  	 	61	 
		
	ARTICLE IV	  	 	 
	CONDITIONS PRECEDENT	  	 	 
			
	 Section 4.01
	 	Initial Effectiveness	  	 	61	 
	 Section 4.02
	 	Each Borrowing Date	  	 	63	 
	 Section 4.03
	 	Initial Loans to Each Designated Borrower	  	 	64	 
		
	ARTICLE V	  	 	 
	REPRESENTATIONS AND WARRANTIES	  	 	 
			
	 Section 5.01
	 	Existence and Standing	  	 	65	 
	 Section 5.02
	 	Authorization and Validity	  	 	65	 
	 Section 5.03
	 	No Conflict; Government Consent	  	 	65	 
	 Section 5.04
	 	Financial Statements	  	 	66	 
	 Section 5.05
	 	Material Adverse Effect	  	 	66	 
	 Section 5.06
	 	Litigation	  	 	66	 
	 Section 5.07
	 	Regulation U	  	 	66	 
	 Section 5.08
	 	Investment Company Act	  	 	66	 
	 Section 5.09
	 	OFAC, FCPA	  	 	67	 
	 Section 5.10
	 	Disclosure	  	 	67	 
	 Section 5.11
	 	Borrowers	  	 	67	 
		
	ARTICLE VI	  	 	 
	COVENANTS	  	 	 
			
	 Section 6.01
	 	Financial Reporting	  	 	67	 
	 Section 6.02
	 	Use of Proceeds	  	 	69	 
	 Section 6.03
	 	Notice of Default	  	 	69	 
	 Section 6.04
	 	Conduct of Business	  	 	69	 
	 Section 6.05
	 	Compliance with Laws	  	 	69	 
	 Section 6.06
	 	Inspection; Keeping of Books and Records	  	 	70	 
	 Section 6.07
	 	Merger	  	 	70	 
	 Section 6.08
	 	Sale of Assets	  	 	70	 
	 Section 6.09
	 	Liens	  	 	70	 
	 Section 6.10
	 	Financial Covenant	  	 	72	 
	 Section 6.11
	 	Sanctions	  	 	72	 

  
 ii 

							
	ARTICLE VII	  	 	 
	DEFAULTS	  	 	 
			
	 Section 7.01
	 	Breach of Representations or Warranties	  	 	72	 
	 Section 7.02
	 	Failure to Make Payments When Due	  	 	73	 
	 Section 7.03
	 	Breach of Covenants	  	 	73	 
	 Section 7.04
	 	Cross Default	  	 	73	 
	 Section 7.05
	 	Voluntary Bankruptcy; Appointment of Receiver; Etc	  	 	74	 
	 Section 7.06
	 	Involuntary Bankruptcy; Appointment of Receiver; Etc	  	 	74	 
	 Section 7.07
	 	Judgments	  	 	74	 
	 Section 7.08
	 	Unfunded Liabilities	  	 	74	 
	 Section 7.09
	 	[Reserved]	  	 	74	 
	 Section 7.10
	 	Other ERISA Liabilities	  	 	74	 
	 Section 7.11
	 	Invalidity of Loan Documents	  	 	75	 
	 Section 7.12
	 	Guarantees	  	 	75	 
		
	ARTICLE VIII	  	 	 
	ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES	  	 	 
			
	 Section 8.01
	 	Acceleration, Etc	  	 	75	 
	 Section 8.02
	 	Amendments	  	 	76	 
	 Section 8.03
	 	Preservation of Rights	  	 	77	 
		
	ARTICLE IX	  	 	 
	GENERAL PROVISIONS	  	 	 
			
	 Section 9.01
	 	Survival of Representations	  	 	77	 
	 Section 9.02
	 	Governmental Regulation	  	 	78	 
	 Section 9.03
	 	Headings	  	 	78	 
	 Section 9.04
	 	Entire Agreement	  	 	78	 
	 Section 9.05
	 	Several Obligations; Benefits of this Agreement	  	 	78	 
	 Section 9.06
	 	Expenses; Indemnification	  	 	78	 
	 Section 9.07
	 	Accounting	  	 	80	 
	 Section 9.08
	 	Severability of Provisions	  	 	80	 
	 Section 9.09
	 	Nonliability of Lenders	  	 	81	 
	 Section 9.10
	 	Confidentiality	  	 	81	 
	 Section 9.11
	 	Nonreliance	  	 	82	 
	 Section 9.12
	 	Disclosure	  	 	82	 
		
	ARTICLE X	  	 	 
	THE ADMINISTRATIVE AGENT	  	 	 
			
	 Section 10.01
	 	Appointment and Authority	  	 	83	 
	 Section 10.02
	 	Rights as a Lender	  	 	83	 
	 Section 10.03
	 	Reliance by Administrative Agent	  	 	83	 
	 Section 10.04
	 	Exculpatory Provisions	  	 	84	 

  
 iii 

							
	 Section 10.05
	 	Delegation of Duties	  	 	85	 
	 Section 10.06
	 	Resignation of Administrative Agent	  	 	85	 
	 Section 10.07
	 	Non-Reliance on Administrative Agent and Other Lenders	  	 	86	 
	 Section 10.08
	 	No Other Duties, Etc	  	 	86	 
	 Section 10.09
	 	Administrative Agent May File Proofs of Claim	  	 	86	 
	 Section 10.10
	 	ERISA	  	 	87	 
		
	ARTICLE XI	  	 	 
	SETOFF	  	 	 
			
	 Section 11.01
	 	Setoff	  	 	88	 
		
	ARTICLE XII	  	 	 
	BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS	  	 	 
			
	 Section 12.01
	 	Successors and Assigns	  	 	88	 
	 Section 12.02
	 	Dissemination of Information	  	 	93	 
	 Section 12.03
	 	Tax Treatment	  	 	93	 
		
	ARTICLE XIII	  	 	 
	NOTICES	  	 	 
			
	 Section 13.01
	 	Notices; Effectiveness; Electronic Communication	  	 	94	 
		
	ARTICLE XIV	  	 	 
	COUNTERPARTS; INTEGRATION; EFFECTIVENESS; ELECTRONIC EXECUTION	  	 	 
			
	 Section 14.01
	 	Counterparts; Effectiveness	  	 	96	 
	 Section 14.02
	 	Electronic Execution of Assignments	  	 	96	 
		
	ARTICLE XV	  	 	 
	CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY
TRIAL	  	 	 
			
	 Section 15.01
	 	Choice of Law	  	 	97	 
	 Section 15.02
	 	Consent to Jurisdiction	  	 	97	 
	 Section 15.03
	 	Waiver of Jury Trial	  	 	98	 
	 Section 15.04
	 	U.S. Patriot Act Notice	  	 	98	 
	 Section 15.05
	 	No Advisory or Fiduciary Responsibility	  	 	98	 
	 Section 15.06
	 	Judgment Currency	  	 	99	 
	 Section 15.07
	 	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	  	 	99	 
		
	ARTICLE XVI	  	 	 
	WBA GUARANTEE	  	 	 
			
	 Section 16.01
	 	WBA Guaranty	  	 	100	 
	 Section 16.02
	 	Guaranty Absolute	  	 	101	 
	 Section 16.03
	 	Waivers	  	 	101	 
	 Section 16.04
	 	Continuing Guaranty	  	 	102	 

  
 iv 

			
	EXHIBITS	  	
		
	Exhibit A	  	Form of Compliance Certificate
	Exhibit B	  	Form of Assignment and Assumption
	 Exhibit C-1

Exhibit C-2
 Exhibit D-1
 Exhibit D-2

Exhibit E
	  	 Form of Revolving Note
 Form of Swing Line
Note
 Form of Revolving Loan Borrowing Notice
 Form of Swing
Line Loan Borrowing Notice
 Form of Conversion/Continuation Notice

	 Exhibit F
 Exhibit G
	  	 Form of Officer’s Certificate
 Form of
Joinder Agreement

		
	SCHEDULES	  	
		
	Schedule 1.01	  	Pricing Schedule
	Schedule 2.01	  	Commitment Schedule
	Schedule 4.01(h)	  	Effective Date Commitment Termination Conditions
	Schedule 13.01	  	Certain Addresses for Notices

  

  
 v 

 REVOLVING CREDIT AGREEMENT 

This Revolving Credit Agreement, dated as of December 23, 2020, is among WALGREENS BOOTS ALLIANCE, INC., a Delaware corporation
(“WBA”), the DESIGNATED BORROWERS from time to time party hereto, the institutions from time to time parties hereto as Lenders (whether by execution of this Agreement or an assignment pursuant to Section 12.01) and WELLS FARGO
BANK, NATIONAL ASSOCIATION, as Administrative Agent and Swing Line Lender. 
 WHEREAS, WBA has requested that the Lenders extend revolving
credit to the Borrowers in the form of Loans in an initial aggregate principal amount not in excess of $3,500,000,000 to refinance certain existing credit facilities of WBA and for general corporate purposes; and 

WHEREAS, the Lenders are willing to make such Loans to Borrowers from time to time on the terms and subject to the conditions set forth in
this Agreement. Accordingly, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01 Certain Defined Terms. As used in this Agreement: 

“18-Month Revolving Facility” means the revolving facility provided hereunder and
evidenced by the 18-Month Tranche Commitments and 18-Month Tranche Loans. 

“18-Month Tranche Commitment” means, for each
18-Month Tranche Lender, the obligation of such 18-Month Tranche Lender to (i) make 18-Month Tranche Loans and
(ii) purchase participations in Swing Line Loans, in an aggregate principal amount not to exceed the amount set forth on the Commitment Schedule (which schedule shall set forth each 18-Month Tranche
Lender’s 18-Month Tranche Commitment as of the Effective Date), in an Assignment and Assumption executed pursuant to Section 12.01 or in a joinder or commitment agreement executed pursuant to
Section 2.01(b), as it may be modified as a result of any assignment that has become effective pursuant to Section 12.01 or as otherwise modified from time to time pursuant to the terms hereof. 

“18-Month Tranche Lender” means a Lender with a
18-Month Tranche Commitment or a 18-Month Tranche Loan and, as the context requires, the Swing Line Lender. 

“18-Month Tranche Loan” has the meaning set forth in Section 2.01(a)(iii). 

“18-Month Tranche Maturity Date” means the date that is 18 months after the Effective
Date; provided that, if such date shall not be a Business Day, the 18-Month Tranche Maturity Date shall be the immediately preceding Business Day. 

  
 1 

 “18-Month Tranche Pro Rata Share”
means an 18-Month Tranche Lender’s Pro Rata Share under the 18-Month Revolving Facility. 

“364-Day Revolving Facility” means the revolving facility provided hereunder and
evidenced by the 364-Day Tranche Commitments and 364-Day Tranche Loans. 

“364-Day Tranche Commitment” means, for each
364-Day Tranche Lender, the obligation of such 364-Day Tranche Lender to make 364-Day Tranche Loans in an aggregate principal
amount not to exceed the amount set forth on the Commitment Schedule (which schedule shall set forth each 364-Day Tranche Lender’s 364-Day Tranche Commitment as of
the Effective Date), in an Assignment and Assumption executed pursuant to Section 12.01 or in a joinder or commitment agreement executed pursuant to Section 2.01(b), as it may be modified as a result of any assignment that has become
effective pursuant to Section 12.01 or as otherwise modified from time to time pursuant to the terms hereof. 
 “364-Day Tranche Lender” means a Lender with a 364-Day Tranche Commitment or a 364-Day Tranche Loan. 

“364-Day Tranche Loan” has the meaning set forth in Section 2.01(a)(i). 

“364-Day Tranche Maturity Date” means the date that is 364 days after the Effective
Date; provided that, if such date shall not be a Business Day, the 364-Day Tranche Maturity Date shall be the immediately preceding Business Day. 

“Acquisition” means any transaction or series of related concurrent transactions for the purpose of or resulting, directly or
indirectly, in (a) the acquisition by WBA or any of its Subsidiaries of all or a material portion of the assets of a Person, or of any business or division of a Person, (b) the acquisition by WBA or any of its Subsidiaries of in excess of
50% of the capital stock, partnership interests, membership interests or equity of any Person (other than a Person that is a Subsidiary), or otherwise causing any Person to become a Subsidiary of WBA or (c) a merger or consolidation or any
other combination by WBA or any of its Subsidiaries with another Person (other than a Person that is a Subsidiary); provided that WBA (or a Person that succeeds to WBA pursuant to Section 6.07 in connection with such transaction or
series of related transactions) or a Subsidiary of WBA (or a Person that becomes a Subsidiary of WBA as a result of such transaction) is the surviving entity; provided, further that any Person that is a Subsidiary at the time of
execution of the definitive agreement related to any such transaction or series of related concurrent transactions (or, in the case of a tender offer or similar transaction, at the time of filing of the definitive offer document) shall constitute a
Subsidiary for purposes of this definition even if in connection with such transaction or series of related transactions, such Person becomes a direct or indirect holding company of WBA. 

“Acquisition Debt” means any Indebtedness incurred by WBA or any of its Subsidiaries for the purpose of financing, in whole
or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of
WBA, any of its Subsidiaries or the 

  
 2 

 person(s) or assets to be acquired); provided that (a) the release of the proceeds of such
Indebtedness to WBA and/or its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a tender offer or similar
transaction, the definitive offer document) for such acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation
relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of WBA and/or its Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory
redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such
Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such
Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within 90 days of such termination or
such specified date, as the case may be). 
 “Actual Unused Commitments” is defined in Section 2.05(a). 

“Administrative Agent” means Wells Fargo, in its capacity as contractual representative of the Lenders pursuant to
Article X, and not in its individual capacity as a Lender or the Swing Line Lender, and any successor Administrative Agent appointed pursuant to Article X. 

“Administrative Agent’s Office” means, with respect to any currency, the Administrative Agent’s address and, as
appropriate, account designated in writing by the Administrative Agent with respect to such currency, or such other address or account with respect to such currency as the Administrative Agent may from time to time notify to WBA and the Lenders.

 “Agent” means any of the Administrative Agent, the Co-Syndication Agents or the Co-Documentation Agents, as appropriate, and “Agents” means, collectively, the Administrative Agent, the Co-Syndication Agents and the Co-Documentation Agents. 
 “Affected Financial Institution” means (a) any EEA
Financial Institution or (b) any UK Financial Institution. 
 “Affiliate” of any Person means any other
Person directly or indirectly controlling, controlled by or under common control with such Person. A Person shall be deemed to control another Person if the controlling Person is the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) of ten percent (10%) or more of any class of voting securities (or other voting interests) of the controlled Person or possesses, directly or indirectly, the power to
direct or cause the direction of the management or policies of the controlled Person, whether through ownership of voting securities, by contract or otherwise. 

  
 3 

 “Agent Parties” is defined in Section 13.01(c). 

“Aggregate 18-Month Tranche Commitment” means, at any time, the 18-Month Tranche Commitments of all the 18-Month Tranche Lenders, as may be adjusted from time to time pursuant to the terms hereof. The Aggregate 18-Month Tranche Commitment as of the Effective Date is Two Billion Two Hundred Fifty Million and 00/100 Dollars ($2,250,000,000). 

“Aggregate 364-Day Tranche Commitment” means, at any time, the 364-Day Tranche Commitments of all the 364-Day Tranche Lenders, as may be adjusted from time to time pursuant to the terms hereof. The Aggregate
364-Day Tranche Commitment as of the Effective Date is One Billion Two Hundred Fifty Million and 00/100 Dollars ($1,250,000,000). 

“Aggregate Commitment” means, at any time, the Aggregate 364-Day Tranche Commitment
and the Aggregate 18-Month Tranche Commitment. 
 “Agreement” means this Revolving
Credit Agreement, as it may be amended, restated, supplemented or otherwise modified and as in effect from time to time. 

“Agreement Accounting Principles” means GAAP, applied in a manner consistent with that used in preparing the financial
statements of WBA referred to in Section 5.04; provided, however, that notwithstanding anything contained in Section 9.07 to the contrary, if WBA notifies the Administrative Agent that WBA requests an amendment to any provision
hereof to eliminate the effect of any change occurring after the Effective Date in GAAP (or any change in GAAP that occurred on or prior to the Effective Date but was not reflected in the financial statements included in the Borrower SEC Reports) or
in the application thereof on the operation of such provision, regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in
effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 

“Agreement Currency” is defined in Section 15.06. 

“Alternate Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate
plus 1/2 of 1%, (b) the Prime Rate in effect for such day and (c) the Eurocurrency Base Rate determined in accordance with clause (b) of the definition thereof for a one month Interest Period plus 1.0%. 

“Alternate Base Rate Loan” means a Revolving Loan, or portion thereof, which, except as otherwise provided in
Section 2.11, bears interest at the Alternate Base Rate. All Alternate Base Rate Loans shall be denominated in Dollars. 

“Applicable Margin” means (i) with respect to 364-Day Tranche Loans, the
percentage rate per annum of the applicable Type as set forth in the Pricing Schedule under the heading “Applicable Margin for 364-Day Tranche Loans” and (ii) with respect to 18-Month Tranche Loans and Swing Line Loans, the percentage rate per annum which is applicable at such time for Loans of the applicable Type as set forth in the Pricing Schedule under the heading “Applicable
Margin for the 18-Month Tranche Loans and Swing Line Loans”. 

  
 4 

 “Applicable Time” means, with respect to any borrowings and payments in any
Foreign Currency, the local time in the place of settlement for such Foreign Currency as shall be reasonably determined by the Administrative Agent to be necessary for timely settlement on the relevant date in accordance with normal banking
procedures in the place of payment. In advance of the initial borrowing of a Revolving Loan in any Foreign Currency, the Administrative Agent shall provide WBA and any applicable Lenders with written notice of the Applicable Time for any borrowings
and payments in such Foreign Currency. In the event no such notice is delivered by the Administrative Agent, the applicable Borrower and any applicable Lender shall be required to make any borrowings and payments in accordance with the times
specified herein for borrowings and payments in Dollars. 
 “Approved Fund” means any Fund that is administered or managed
by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arrangers” means, collectively, Wells Fargo Securities, LLC, BofA Securities, Inc. and JPMorgan Chase Bank, N.A., and their
respective successors, in their capacity as joint lead arrangers hereunder. 
 “Article” means an article of this Agreement
unless another document is specifically referenced. 
 “Assignee Group” means two or more Eligible Assignees that are
Affiliates of one another or two or more Approved Funds managed by the same investment advisor. 
 “Assignment and
Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 12.01), and accepted by the Administrative Agent, in substantially the
form of Exhibit B or any other form approved by the Administrative Agent. 
 “Authorized Officer” means (A) in
the case of WBA, any of the (i) Chief Executive Officer, (ii) Global Chief Financial Officer, (iii) Global Chief Administrative Officer and General Counsel, (iv) Global Treasurer, (v) Treasury Vice President,
(vi) Corporate Secretary or (vii) Global Controller and Chief Accounting Officer or (B) in the case of any Designated Borrower, a director or such other individuals as authorized by the directors under the resolutions passed by the
Board of Directors of such Designated Borrower, in each case of clauses (A) and (B), acting in accordance with the terms of the signing authority granted in the incumbency certificate delivered to the Administrative Agent pursuant to
Section 4.01(d) or 4.03(c) (as applicable) (including any supplements thereto delivered to the Administrative Agent from time to time by way of an officers’ certificate jointly executed by two Authorized Officers). 

  
 5 

 “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). 

“Beneficial Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial
Ownership Regulation (as defined below). 
 “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”. 
 “Borrower” means, as applicable,
WBA, each Designated Borrower, and each of their respective permitted successors and assigns (including, without limitation, a debtor-in-possession on its behalf). 

“Borrower Materials” is defined in Section 6.01. 

“Borrower SEC Reports” means WBA’s 2020 Annual Report on Form 10-K. 

“Borrowing” means (i) a borrowing consisting of simultaneous Revolving Loans of the same Type made to the same Borrower
and, in the case of a borrowing of Eurocurrency Loans, having the same Interest Period or (ii) a Swing Line Borrowing, as the context may require. 

“Borrowing Date” means each date on which a Borrowing is made hereunder, subject to satisfaction (or waiver in accordance
with Section 8.02) of the applicable conditions set forth in Article IV. 
 “Business Day” means a day (other than a
Saturday or Sunday) on which banks are generally open in New York, New York for the conduct of substantially all of their commercial lending activities and interbank wire transfers can be made on the Fedwire system (or any other equivalent wire
system) and: 

  
 6 

 (a) if such day relates to any interest rate settings as to a Eurocurrency Loan
denominated in Dollars, any fundings, disbursements, settlements and payments in Dollars in respect of any such Eurocurrency Loan, or any other dealings in Dollars to be carried out pursuant to this Agreement in respect of any such Eurocurrency
Loan, means any such day that is also a London Banking Day; 
 (b) if such day relates to any interest rate settings as to a
Eurocurrency Loan denominated in Euro, any fundings, disbursements, settlements and payments in Euro in respect of any such Eurocurrency Loan, or any other dealings in Euro to be carried out pursuant to this Agreement in respect of any such
Eurocurrency Loan, means a TARGET Day; 
 (c) if such day relates to any interest rate settings as to a Eurocurrency Loan denominated in a
currency other than Dollars or Euro, means any such day on which dealings in deposits in the relevant currency are conducted by and between banks in the London or other applicable offshore interbank market for such currency; and 

(d) if such day relates to any fundings, disbursements, settlements and payments in a currency other than Dollars or Euro in respect of a
Eurocurrency Loan denominated in a currency other than Dollars or Euro, or any other dealings in any currency other than Dollars or Euro to be carried out pursuant to this Agreement in respect of any such Eurocurrency Loan (other than any interest
rate settings), means any such day on which banks are open for foreign exchange business in the principal financial center of the country of such currency. 

“Capitalized Lease” of a Person means any lease of Property by such Person as lessee which would be shown as a liability on a
balance sheet of such Person prepared in accordance with Agreement Accounting Principles. 
 “Cash Collateralize” means to
pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Administrative Agent and the 18-Month Tranche Lenders (including, for the avoidance of doubt, the Swing Line Lender), as
collateral for the obligations of 18-Month Tranche Lenders to fund participations in respect of Swing Line Loans, cash or deposit account balances, in each case denominated in Dollars pursuant to documentation
in form and substance reasonably satisfactory to the Administrative Agent and the Swing Line Lender. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and
other credit support. 
 “Change in Law” means the occurrence, after the date of this Agreement, of any of the following:
(a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the
making or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority; 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 promulgated thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives 

  
 7 

 
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case
pursuant to Basel III, shall in the case of clauses (x) and (y) be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued, promulgated or implemented. 

“Co-Documentation Agents” means, collectively, Citibank, N.A., Deutsche Bank
Securities Inc., HSBC Securities (USA) Inc., Intesa Sanpaolo S.p.A, New York Branch, Mizuho Bank, Ltd., National Westminster Bank plc, Sumitomo Mitsui Banking Corporation, UniCredit Bank AG, New York Branch and U.S. Bank National Association, each
in its capacity as the documentation agent for the Lenders, and not in its individual capacity as a Lender. 
 “Co-Syndication Agents” means, collectively, Bank of America, N.A. and JPMorgan Chase Bank, N.A., each in its capacity as the syndication agent for the Lenders, and not in its individual capacity as a
Lender. 
 “Code” means the Internal Revenue Code of 1986, as amended, reformed or otherwise modified from time to time.

 “Commitment” means, for each Lender, any or all of such Lender’s 364-Day
Commitment or 18-Month Commitment, as the context may require. 
 “Commitment Fee”
is defined in Section 2.05(a). 
 “Commitment Fee Rate” means, at any time, (i) with respect to the 364-Day Revolving Facility, 0.10% per annum and (ii) with respect to the 18-Month Revolving Facility, 0.11% per annum. 

“Commitment Schedule” means the Schedule attached hereto and identified as such, identifying each Lender’s Commitment as
of the Effective Date. 
 “Consenting Lender” is defined in Section 2.03(a). 

“Consolidated Assets” means, at any date of determination, the total amount, as shown on or reflected in the most recent
consolidated balance sheet of WBA and its Subsidiaries as at the end of WBA’s fiscal quarter ending prior to such date, of all assets of WBA and its consolidated Subsidiaries on a consolidated basis in accordance with Agreement Accounting
Principles (giving pro forma effect to any acquisition or disposition of Property of WBA or any of its Subsidiaries with fair value in excess of $100,000,000 that has occurred since the end of such fiscal quarter as if such acquisition or
disposition had occurred on the last day of such fiscal quarter). 
 “Consolidated Debt” means at any time the consolidated
Indebtedness for Borrowed Money of WBA and its Subsidiaries calculated on a consolidated basis as of such time in accordance with Agreement Accounting Principles. 

  
 8 

 “Consolidated Net Worth” means at any time the consolidated
stockholders’ equity of WBA and its Subsidiaries calculated on a consolidated basis as of such time in accordance with Agreement Accounting Principles. 

“Contingent Obligation” of a Person means any agreement, undertaking or arrangement by which such Person assumes, guarantees,
endorses, contingently agrees to purchase or provide funds for the payment of, or otherwise becomes or is contingently liable upon, the obligation or liability of any other Person, or agrees to maintain the net worth or working capital or other
financial condition of any other Person, or otherwise assures any creditor of such other Person against loss, including, without limitation, any comfort letter, operating agreement,
take-or-pay contract or the obligations of any such Person as general partner of a partnership with respect to the liabilities of the partnership. 

“Controlled Group” means all members of a controlled group of corporations or other business entities and all trades or
businesses (whether or not incorporated) under common control which, together with WBA or any of its Subsidiaries, are treated as a single employer under Section 414 of the Code or Section 4001 of ERISA. 

“Conversion/Continuation Notice” is defined in Section 2.09. 

“Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy,
assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights
of creditors generally. 
 “Declining Lender” is defined in Section 2.03(a). 

“Default” means an event described in Article VII. 

“Defaulting Lender” means, subject to Section 2.20(b), any Lender that (a) has failed to perform any of its funding
obligations hereunder, including in respect of its Revolving Loans or participations in respect of Swing Line Loans, within three Business Days of the date required to be funded by it hereunder unless such Lender notifies the Administrative Agent in
writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding has not been satisfied (which conditions precedent, together with the applicable default, if any, will be specifically
identified in such writing), (b) has notified WBA, the Swing Line Lender or the Administrative Agent in writing that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding
obligations hereunder, or generally under other agreements in which it commits to extend credit, unless such notification or public statement relates to such Lender’s obligation to fund a Revolving Loan or participations in Swing Line Loans
hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified
in such writing or public statement), (c) has failed, within three Business Days after written request 

  
 9 

 by the Administrative Agent, the Swing Line Lender or any Borrower, to confirm in a manner satisfactory to
the Administrative Agent, the Swing Line Lender or such Borrower, as applicable, that it will comply with its funding obligations, which request was made because of a reasonable concern by the Administrative Agent, the Swing Line Lender or such
Borrower that such Lender may not be able to comply with its 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 the
Administrative Agent, the Swing Line Lender or such 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 Law, (ii) had a receiver, conservator,
trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a custodian appointed for it, or taken any action in furtherance of, or indicated its consent to, approval
of or acquiescence in any such proceeding or appointment or (iii) become the subject of a Bail-In Action; 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 unless such ownership or equity results in or provides such Lender with immunity from the jurisdiction of courts within
the United States or any other nation or from the enforcement of judgments or writs of attachment on its assets or permits such Lender (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or
agreements made by such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding
absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.20(b)) as of the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by
the Administrative Agent to WBA, the Swing Line Lender and each other Lender promptly following such determination. 
 “Designated
Borrower” means any Wholly-Owned Subsidiary of WBA designated for borrowing privileges under this Agreement in accordance with Section 2.21 and each of its respective permitted successors and assigns (including, without limitation, a debtor-in-possession on its behalf). 
 “Designated
Foreign Borrower” is defined in Section 2.21(b). 
 “Disqualified Stock” means any capital stock that, by its
terms (or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the
option of the holder thereof, in whole or in part, on or prior to the date that is ninety-one (91) days after the latest Facility Termination Date in effect hereunder (giving effect to any extensions
thereof). 
 “Dollar” and “$” means dollars in the lawful currency of the United States of America. 

  
 10 

 “Dollar Equivalent” means, at any time, (a) with respect to any amount
denominated in Dollars, such amount, and (b) with respect to any amount denominated in any Foreign Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent at such time on the basis of the Exchange Rate
(determined in respect of the most recent Revaluation Date) for the purchase of Dollars with such Foreign Currency. 
 “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. 

“Effective Date” is defined in Section 4.01. 

“Eligible Assignee” means any Person that meets the requirements to be an assignee under Section 12.01(b)(v), (vi) and
(vii) (subject to such consents, if any, as may be required under Section 12.01(b)(iii)). 
 “Environmental Laws”
means any and all federal, state, local and foreign statutes, laws, judicial decisions, regulations, ordinances, rules, judgments, orders, decrees, injunctions, permits, concessions, grants, franchises, licenses and other governmental restrictions
relating to (a) the protection of the environment, (b) the effect of the environment on human health, (c) emissions, discharges or releases of pollutants, contaminants, hazardous substances or wastes into surface water, ground water
or land, or (d) the use, treatment, storage, disposal, transport or handling of pollutants, contaminants, hazardous substances or wastes or the clean-up or other remediation thereof. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, cost of
environmental remediation, fines, penalties or indemnities), resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials,
(c) exposure to any Hazardous Materials (excluding product liability claims), (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to
which liability is assumed or imposed with respect to any of the foregoing. 
 “ERISA” means the Employee Retirement Income
Security Act of 1974, as amended from time to time, including (unless the context otherwise requires) the rules or regulations promulgated thereunder. 

  
 11 

 “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. 

“Euro” and “€” mean the single currency of the European Union as constituted by the Treaty on
European Union and as referred to in the legislative measures of the European Union for the introduction of, changeover to or operation of the Euro in one or more member states, being in part legislative measures to implement the European and
Monetary Union as contemplated in the Treaty on European Union. 
 “Eurocurrency Base Rate” means, subject to the
implementation of a Replacement Rate in accordance with Section 3.07(b), 
 (a) for any Interest Period with respect to a Eurocurrency
Loan, the rate per annum equal to the London Interbank Offered Rate administered by the ICE Benchmark Administration (or the successor thereto if the ICE Benchmark Administration is no longer making a London Interbank Offered Rate available)
(“LIBOR”) as published on the applicable Bloomberg screen page (or such other comparable commercially available source providing such quotations as may be designated by the Administrative Agent from time to time in its reasonable
discretion) at approximately 11:00 a.m., London time, two London Banking Days prior to the commencement of such Interest Period, for deposits in the relevant currency (for delivery on the first day of such Interest Period) in the London interbank
market with a term equivalent to such Interest Period; 
 (b) for any interest calculation with respect to an Alternate Base Rate Loan on any
date, the rate per annum equal to LIBOR, at approximately 11:00 a.m., London time determined two London Banking Days prior to such date for Dollar deposits being delivered in the London interbank market for a term of one month commencing that day;
and 
 (c) with respect to Swing Line Loans, a fluctuating rate of interest, which can change on each Business Day, equal to LIBOR, or a
comparable or successor rate which is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent
from time to time) at or about 11:00 a.m. London time two (2) Business Days prior to the date in question for Dollar deposits with a term equivalent to one (1) month beginning on that date. 

Unless otherwise specified in any amendment to this Agreement entered into in accordance with Section 3.07(b), in the event that a
Replacement Rate with respect to LIBOR is implemented then all references herein to LIBOR shall be deemed references to such Replacement Rate. 

“Eurocurrency Loan” means a Revolving Loan which, except as otherwise provided in Section 2.11, bears interest at the
rate described in clause (a) of the definition of “Eurocurrency Base Rate”. Eurocurrency Loans may be denominated in Dollars or a Foreign Currency. 

  
 12 

 “Eurocurrency Rate” means, with respect to a Eurocurrency Loan for
the relevant Interest Period, the quotient of (i) the Eurocurrency Base Rate determined in accordance with clause (a) of the definition thereof applicable to such Interest Period, divided by (ii) one minus the Reserve
Requirement (expressed as a decimal) applicable to such Interest Period. 
 “Exchange Rate” for a currency means the rate
determined by the Administrative Agent for the purchase of such currency with another currency, as published on the applicable Bloomberg screen page at or about 11:00 a.m. (London, England time) on the date two Business Days prior to the date as of
which the foreign exchange computation is made. In the event that such rate does not appear on the applicable Bloomberg screen page, the “Exchange Rate” with respect to the purchase of such currency with another currency shall be
determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and WBA, or, in the absence of such agreement, such “Exchange Rate” shall instead be
the rate determined by the Administrative Agent to be the rate quoted by the Person acting in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office
in respect of such currency at approximately 11:00 a.m. (local time) on the date two Business Days prior to the date as of which the foreign exchange computation is made; provided that if at the time of any such determination, no such spot
rate can reasonably be quoted, the Administrative Agent may use any reasonable method as it deems applicable to determine such rate, and such determination shall be conclusive absent manifest error. 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender, or any other recipient of any payment to be
made by or on account of any obligation of any Borrower hereunder, (a) Taxes imposed on or measured by its overall net income (however denominated), franchise Taxes imposed on it (in lieu of net income Taxes), and branch profits or similar
Taxes, in each case, imposed by the jurisdiction (or any political subdivision thereof) (i) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable
Lending Installation is located, or (ii) where the recipient otherwise has a present or former connection (other than by reason of the activities and transactions specifically contemplated by this Agreement, including selling or assigning an
interest in any Loan or Loan Document or enforcing provisions of any Loan Document), (b) any backup withholding Tax that is required by the Code to be withheld from amounts payable to a Lender that has failed to comply with Section 3.05(e)(ii),
(c) in the case of a Foreign Lender, any U.S. withholding Tax that is required to be imposed on amounts payable to such Foreign Lender (other than an assignee pursuant to a request by WBA under Section 2.18) pursuant to the laws in force
at the time such Foreign Lender becomes a party hereto (or designates a new Lending Installation), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Lending Installation (or
assignment), to receive additional amounts from the applicable Borrower with respect to such withholding Tax pursuant to Section 3.05(a)(i) or (ii), (d) in the case of a Lender, any withholding Tax that is attributable to such Lender’s
failure to comply with Section 3.05(e), and (e) any U.S. federal withholding Taxes imposed under FATCA. 

  
 13 

 “Exhibit” refers to an exhibit to this Agreement, unless another document
is specifically referenced. 
 “Existing Syndicated 5-Year Credit Agreement” means
that certain Revolving Credit Agreement, dated as of August 29, 2018, among WBA, the other borrowers party thereto, the lenders and letter of credit issuers from time to time party thereto and Wells Fargo Bank, National Association, as
administrative agent (as amended, restated, supplemented or otherwise modified from time to time). 
 “Existing Extending
Lender” is defined in Section 2.03(b). 
 “Existing Wells Fargo Credit Agreement” means that certain Amended
and Restated Revolving Credit Agreement, dated as of April 2, 2020, among WBA, the lenders from time to time party thereto and Wells Fargo Bank, National Association, as administrative agent (as amended, restated, supplemented or otherwise
modified from time to time). 
 “Extension Date” is defined in Section 2.03(a). 

“Facility Termination Date” means (i) with respect to the 364-Day Revolving
Facility, the earlier of (a) the 364-Day Tranche Maturity Date and (b) the date of termination in whole of the Aggregate 364-Day Tranche Commitment pursuant to
Section 2.05 or Section 8.01 hereof and (ii) with respect to the 18-Month Revolving Facility, the earlier of (a) the 18-Month Tranche Maturity Date
and (b) the date of termination in whole of the Aggregate 18-Month Tranche Commitment pursuant to Section 2.05 or Section 8.01 hereof. 

“FATCA” means Sections 1471-1474 of the Code as of the date of this Agreement (or any amended or successor version that is
substantively comparable and not materially more onerous to comply with) and any regulations promulgated thereunder or official interpretations thereof, any agreements entered into pursuant to Section 1471(b) of the Code, any intergovernmental
agreements entered into in connection with the implementation of the foregoing and any laws, rules and regulations adopted by a non-U.S. jurisdiction to effect any such intergovernmental agreement. 

“Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal
funds transactions with members of the Federal Reserve System on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the
Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the
Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to the Administrative Agent on such day on such transactions as determined by the Administrative Agent. 

  
 14 

 “Fee Letters” means the fee letters dated as of the date hereof between
Wells Fargo (together with any of its affiliates) and WBA. 
 “Foreign Currency” means Sterling and Euro. 

“Foreign Lender” means any Lender that is not organized under the laws of the United States, any State thereof or the
District of Columbia. 
 “Foreign Pension Plan” means any defined benefit plan as described in Section 3(35) of ERISA
for which WBA or any Subsidiary is a sponsor or administrator or to which WBA or any Subsidiary has any liability, and which (a) is maintained or contributed to for the benefit of employees of WBA or any of its respective Subsidiaries,
(b) is not covered by ERISA pursuant to Section 4(b)(4) of ERISA, and (c) under applicable local law, 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). 
 “Fund” means any Person (other than a natural person) that is (or will be) engaged in making,
purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 

“GAAP” shall mean generally accepted accounting principles in the United States of America, as in effect from time to time,
subject to the Agreement Accounting Principles. 
 “Governmental Authority” means the government of the United States, the
United Kingdom or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes
or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature, in each case that are
regulated pursuant to any Environmental Law. 
 “Increase Date” means the effective date of any increase in the Commitments
pursuant to Section 2.01(b). 
 “Indebtedness” of a Person means, without duplication, (a) the obligations of
such Person (i) for borrowed money, (ii) under or with respect to notes payable and drafts accepted which represent extensions of credit (whether or not representing obligations for borrowed money) to such Person, (iii) constituting
reimbursement obligations with respect to letters of credit issued for the account of such Person, (iv) for the deferred purchase price of property or services (other than current accounts payable arising in the ordinary course of such
Person’s 

  
 15 

 business payable on terms customary in the trade), (v) for its Contingent Obligations, (vi) for its Net
Mark-to-Market Exposure under Rate Management Transactions, (vii) for its Rate Management Obligations, (viii) for its Receivables Transaction Attributed
Indebtedness and (ix) with respect to Disqualified Stock, (b) the obligations of others, whether or not assumed, secured by Liens on property of such Person or payable out of the proceeds of, or production from, property or assets now or
hereafter owned or acquired by such Person and (c) any other obligation or other financial accommodation which in accordance with Agreement Accounting Principles would be shown as a liability on the consolidated balance sheet of such Person;
provided that notwithstanding anything herein to the contrary, Capitalized Leases shall not constitute Indebtedness for any purpose hereunder. 

“Indebtedness for Borrowed Money” of a Person means, without duplication, (a) indebtedness for borrowed money (whether
or not evidenced by bonds, debentures, notes or similar instruments) or for the deferred purchase price of property or services (other than current accounts payable arising in the ordinary course of such Person’s business payable on terms
customary in the trade) and (b) obligations under direct or indirect guaranties in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of,
indebtedness or obligations of any other Person of the kinds referred to in clause (a) above; provided that notwithstanding anything herein to the contrary, neither Capitalized Leases nor any obligations of the type described in clause
(b) above with respect to Capitalized Leases shall constitute Indebtedness for Borrowed Money for any purpose hereunder. 

“Indemnified Taxes” means Taxes (other than Excluded Taxes) imposed on or with respect to any payment made by or on account
of any obligation of any Borrower hereunder. 
 “Indemnitee” is defined in Section 9.06(b). 

“Information” is defined in Section 9.10. 

“Intangible Assets” means, at any date of determination, the value, as shown on or reflected in the most recent consolidated
balance sheet of WBA and its Subsidiaries as at the end of WBA’s fiscal quarter ending prior to such date, prepared in accordance with Agreement Accounting Principles and giving pro forma effect to any acquisition or disposition of Property of
WBA or any of its Subsidiaries with fair value in excess of $100,000,000 that has occurred since the end of such fiscal quarter as if such acquisition or disposition had occurred on the last day of such fiscal quarter, of all trade names,
trademarks, licenses, patents, copyrights, service marks, goodwill and other like intangibles. 
 “Interest Period” means,
with respect to a Eurocurrency Loan, a period of one week or one, two, three or six months (to the extent available for such Interest Period in any Foreign Currency, if applicable) or such other period agreed to by the Lenders and WBA, commencing on
the Borrowing Date with respect to such Eurocurrency Loan or on the date on which a Eurocurrency Loan is continued or an Alternate Base Rate Loan is converted into a Eurocurrency Loan. Such Interest Period shall end on but exclude the day which
corresponds numerically to 

  
 16 

 such date one, two, three or six months or such other agreed upon period thereafter or, in the case of an
Interest Period of one week, shall end on but exclude the day that is one week thereafter, provided, however, that if there is no such numerically corresponding day in such next, second, third or sixth succeeding month or such other
succeeding period, such Interest Period shall end on the last Business Day of such next, second, third or sixth succeeding month or such other succeeding period. If an Interest Period would otherwise end on a day which is not a Business Day, such
Interest Period shall end on the next succeeding Business Day, provided, however, that if said next succeeding Business Day falls in a new calendar month, such Interest Period shall end on the immediately preceding Business Day. 

“Joinder Agreement” means, with respect to any Designated Borrower, an agreement substantially in the form of Exhibit G
hereto signed by such Designated Borrower and WBA. 
 “Judgment Currency” is defined in Section 15.06. 

“Lenders” means the financial institutions listed on the Commitment Schedule as having a Commitment of any Tranche hereunder,
any other Person that shall have become party hereto with a Commitment of any Tranche pursuant to an Assignment and Assumption (other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption, or if the
Commitments of such Lender have terminated) or pursuant to Section 2.01(b), a Lender with outstanding Revolving Loans of any Tranche and, as the context requires, the Swing Line Lender. 

“Lending Installation” means, with respect to a Lender or the Agents, the office, branch, subsidiary or affiliate of such
Lender or Agent listed on the administrative information sheets provided to the Administrative Agent in connection herewith, or otherwise selected by such Lender or Agent pursuant to Section 2.16. 

“LIBOR” has the meaning specified in the definition of “Eurocurrency Base Rate”. 

“LIBOR Daily Floating Rate” means the rate based on clause (c) of the definition of “Eurocurrency Base Rate”.

 “LIBOR Successor Amendment” is defined in Section 3.07(b). 

“Lien” means any lien (statutory or other), mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance or
preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, the interest of a vendor or lessor under any conditional sale, Capitalized Lease or other title retention
agreement). 
 “Loan” means, with respect to a Lender, such Lender’s loan made pursuant to Section 2.01 (and any
conversion or continuation thereof pursuant to Section 2.09) or Section 2.02. For the avoidance of doubt, “Loans” shall include 364-Day Tranche Loans,
18-Month Tranche Loans and Swing Line Loans. 

  
 17 

 “Loan Documents” means this Agreement, any Joinder Agreement and any Notes
issued pursuant to Section 2.13 (if requested), as the same may be amended, restated or otherwise modified and in effect from time to time. 

“London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London
interbank eurodollar market. 
 “Major Subsidiary” means any Designated Borrower and any Subsidiary of WBA (a) which
is organized and existing under, or has its principal place of business in, the United States or any political subdivision thereof, Canada or any political subdivision thereof, the United Kingdom, or any of their respective political subdivisions,
any country which is a member of the European Union on the Effective Date or any political subdivision thereof, or Switzerland, Norway, Australia and (b) which has at any time total assets (after intercompany eliminations and excluding GAAP
operating lease right-of-use assets) exceeding $7,000,000,000. 

“Material Acquisition” means any Acquisition the aggregate consideration therefor (including Indebtedness assumed in
connection therewith, all obligations in respect of deferred purchase price (including obligations under any purchase price adjustment but excluding earnout or similar payments) and all other consideration payable in connection therewith (including
payment obligations in respect of noncompetition agreements or other arrangements representing acquisition consideration)) exceeds $1,000,000,000. 

“Material Adverse Effect” means a material adverse effect on (a) the financial condition, results of operations,
business or Property of WBA and its Subsidiaries taken as a whole or (b) the rights of or remedies available to the Lenders or the Administrative Agent against any Borrower under the Loan Documents, taken as a whole. 

“Maturity Date” means (i) with respect to the 364-Day Revolving Facility, the 364-Day Tranche Maturity Date and (ii) with respect to the 18-Month Revolving Facility, the 18-Month Tranche Maturity Date. 

“Maturity Date Extension” is defined in Section 2.03(a). 

“Moody’s” means Moody’s Investors Service, Inc. (or any successor thereto). 

“Multiemployer Plan” means a multiemployer plan as defined in Section 3(37) of ERISA that is subject to Title IV of
ERISA and is maintained pursuant to a collective bargaining agreement or any other arrangement to which WBA, any Subsidiary or any member of the Controlled Group is a party, and to which plan WBA, any Subsidiary or any member of the Controlled Group
is obligated to make contributions. 
 “Net
Mark-to-Market Exposure” of a Person means, as of any date of determination, the excess (if any) of all Unrealized Losses over all Unrealized Profits of such
Person arising from Rate Management Transactions. 

  
 18 

 “New Extending Lender” is defined in Section 2.03(b). 

“Note” means the Revolving Notes and the Swing Line Note, individually or collectively, as appropriate. 

“Obligations” means all Loans, debts, liabilities, obligations, covenants and duties owing by any Borrower to the
Administrative Agent, the Arrangers, the Swing Line Lender, any other Lender, any affiliate of the Administrative Agent, the Arrangers, the Swing Line Lender or any other Lender or any indemnitee under the provisions of Section 9.06 or any
other provisions of the Loan Documents, in each case of any kind or nature, present or future, arising under this Agreement or any other Loan Document, whether or not evidenced by any note, guaranty or other instrument, whether or not for the
payment of money, whether arising by reason of an extension of credit, loan, foreign exchange risk, guaranty, indemnification, or in any other manner, whether direct or indirect (including those acquired by assignment), absolute or contingent, due
or to become due, now existing or hereafter arising and however acquired (including, for the avoidance of doubt, interest accruing after the maturity of the Loans and interest accruing after the filing of any petition in bankruptcy, or the
commencement of any proceeding under any Debtor Relief Law, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding). The term includes, without limitation, all interest, charges, expenses, fees,
attorneys’ fees and disbursements, paralegals’ fees, and any other sum chargeable to WBA or any of its Subsidiaries under this Agreement or any other Loan Document. 

“OFAC” means the Office of Foreign Assets Control of the U.S. Department of the Treasury. 

“Other Taxes” means all present or future stamp, documentary, intangible, recording or filing taxes or any similar taxes,
charges or levies arising from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document, except any such Taxes that are imposed with respect to an assignment (other than an assignment made
pursuant to Section 2.18). 
 “Overnight Rate” means, for any day, (a) with respect to any amount denominated in
Dollars, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, and (b) with respect to any amount denominated
in a Foreign Currency, the rate of interest per annum at which overnight deposits in the applicable Foreign Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day
by a branch or Affiliate of the Administrative Agent in the applicable offshore interbank market for such currency to major banks in such interbank market. 

“Parent Guarantee” is defined in Section 16.01. 

“Participant” is defined in Section 12.01(d). 

  
 19 

 “Participant Register” is defined in Section 12.01(d). 

“Payment Date” means the last Business Day of each March, June, September and December and the applicable Facility
Termination Date. 
 “PBGC” means the Pension Benefit Guaranty Corporation, or any successor thereto. 

“Person” means any natural person, corporation, firm, joint venture, partnership, limited liability company, association,
enterprise, trust or other entity or organization, or any government or political subdivision or any agency, department or instrumentality thereof. 

“Plan” means an employee benefit plan other than a Multiemployer Plan which is covered by Title IV of ERISA or subject to the
minimum funding standards under Section 412 of the Code or Section 302 of ERISA as to which WBA, any Subsidiary or any member of the Controlled Group has liability. 

“Platform” is defined in Section 6.01. 

“Pricing Schedule” means Schedule 1.01. 

“Prime Rate” means the rate of interest in effect for such day as publicly announced from time to time by Wells Fargo as its
“prime rate”. The “prime rate” is a rate set by Wells Fargo based upon various factors including Wells Fargo’s costs and desired return, general economic conditions and other factors, and is used as a reference point for
pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate announced by Wells Fargo shall take effect at the opening of business on the day specified in the public announcement of such change. 

“Pro Rata Share” means, with respect to a Lender of any Tranche, (a) if the Aggregate Commitment of the applicable
Tranche has not been terminated, a portion equal to a fraction the numerator of which is such Lender’s Commitment of such Tranche at such time (in each case, as adjusted from time to time in accordance with the provisions of this Agreement) and
the denominator of which is the aggregate of all Lenders’ Commitments of such Tranche at such time, or, (b) if the Commitments of the Lenders of such Tranche have been terminated, a portion equal to a fraction the numerator of which is the
aggregate outstanding principal Dollar Equivalent of such Lender’s Loans of such Tranche (and, with respect to the 18-Month Revolving Facility, with the aggregate amount of each 18-Month Tranche Lender’s participation in Swing Line Loans being deemed “held” by each 18-Month Tranche Lender for purposes of this definition) at such time
and the denominator of which is the sum of the aggregate outstanding principal Dollar Equivalent of all Lenders’ Loans of such Tranche at such time. 

“Property” of a Person means any and all property, whether real, personal, tangible, intangible, or mixed, of such Person, or
other assets owned, leased or operated by such Person. 
 “Protesting Lender” is defined in Section 2.21(b). 

  
 20 

 “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” is defined in
Section 6.01. 
 “Qualified Receivables Transaction” means any transaction or series of transactions that may be
entered into by WBA or any Subsidiary pursuant to which WBA or any Subsidiary may sell, convey or otherwise transfer to a newly-formed Subsidiary or other special-purpose entity, or any other Person, any accounts or notes receivable and rights
related thereto. 
 “Rate Management Obligations” of a Person means any and all obligations of such Person, whether
absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any and all Rate Management Transactions, and
(b) any and all cancellations, buy backs, reversals, terminations or assignments of any Rate Management Transactions. 
 “Rate
Management Transaction” means any transaction (including an agreement with respect thereto) now existing or hereafter entered into between any Borrower and any Lender or Affiliate thereof which is a rate swap, basis swap, forward rate
transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, forward transaction,
currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of these transactions) or any combination thereof, whether linked to one or more interest
rates, foreign currencies, commodity prices, equity prices or other financial measures. 
 “Receivables Transaction Attributed
Indebtedness” means the amount of obligations outstanding under the legal documents entered into as part of any Qualified Receivables Transaction on any date of determination that would be characterized as principal if such Qualified
Receivables Transactions were structured as a secured lending transaction rather than as a purchase. 
 “Register” is
defined in Section 12.01(c). 
 “Regulation D” means Regulation D of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor thereto or other regulation or official interpretation of said Board of Governors. 

“Regulation U” means Regulation U of the Board of Governors of the Federal Reserve System as from time to time in effect and
any successor or other regulation or official interpretation of said Board of Governors. 

  
 21 

 “Regulation X” means Regulation X of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor or other regulation or official interpretation of said Board of Governors. 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, members, directors,
officers, employees, agents and controlling persons of such Person and of such Person’s Affiliates. 
 “Replacement
Rate” is defined in Section 3.07(b). 
 “Reportable Event” means a reportable event, as defined in
Section 4043 of ERISA and the regulations issued under such section, with respect to a Plan, excluding, however, such events as to which the PBGC has by regulation or otherwise waived the requirement of Section 4043(a) of ERISA that it be
notified within thirty (30) days of the occurrence of such event, provided, however, that a failure to meet the minimum funding standard of Section 412 of the Code and of Section 302 of ERISA shall be a Reportable Event
regardless of the issuance of any such waiver of the notice requirement in accordance with either Section 4043(a) of ERISA or Section 412(c) of the Code. 

“Required Lenders” means, on any date of determination, Lenders in the aggregate holding greater than fifty percent (50%) of
the sum of (a) the Aggregate 364-Day Tranche Commitment or, if the Aggregate 364-Day Tranche Commitment has been terminated, the aggregate outstanding principal
Dollar Equivalent of all Loans under such Tranche on such date (if any) and (b) the Aggregate 18-Month Tranche Commitment or, if the Aggregate 18-Month Tranche
Commitment has been terminated, the aggregate outstanding principal Dollar Equivalent of all Loans (including Swing Line Loans) under such Tranche on such date (if any) (with the aggregate amount of each
18-Month Tranche Lender’s participation in Swing Line Loans being deemed “held” by each 18-Month Tranche Lender for purposes of this definition);
provided that the Commitments of, and the portion of the aggregate outstanding Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 

“Required Tranche Lenders” means, on any date of determination and with respect to any Tranche, Lenders in the aggregate
holding greater than fifty percent (50%) of the Aggregate Commitment with respect to such Tranche or, if the Aggregate Commitment with respect to such Tranche has been terminated, the aggregate outstanding principal Dollar Equivalent of all Loans
(including Swing Line Loans) under such Tranche (and, with respect to the 18-Month Revolving Facility, with the aggregate amount of each 18-Month Tranche Lender’s
participation in Swing Line Loans being deemed “held” by each 18-Month Tranche Lender for purposes of this definition); provided that the Commitment of, and the portion of the aggregate
outstanding Loans with respect to such Tranche held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Tranche Lenders. 

“Requisite Amount” means $250,000,000. 

  
 22 

 “Reserve Requirement” means, with respect to an Interest Period, the
maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves) which is imposed under Regulation D on “Eurocurrency liabilities” (as defined in Regulation D). 

“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution
Authority. 
 “Revaluation Date” means with respect to any Revolving Loan denominated in a Foreign Currency (i) the
first day of each Interest Period applicable to such Revolving Loan and (ii) in the case of any Revolving Loan with an Interest Period longer than three months, at three-month intervals after the first day of such Interest Period. 

“Revolving Facility” means, collectively or individually as the context may require, the 364-Day Revolving Facility or the 18-Month Revolving Facility. 

“Revolving Loan Borrowing Notice” is defined in Section 2.08. 

“Revolving Loans” means, collectively or individually as the context may require, the
364-Day Tranche Loans and/or the 18-Month Tranche Loans. 

“Revolving Note” is defined in Section 2.13(d). 

“S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc. (or any successor
thereto). 
 “Same Day Funds” means (a) with respect to disbursements and payments in Dollars, immediately available
funds, and (b) with respect to disbursements and payments in a Foreign Currency, same day or other funds as may be determined by the Administrative Agent to be customary in the place of disbursement or payment for the settlement of
international banking transactions in the relevant Foreign Currency. 
 “Sanctions” means sanctions administered by OFAC
(including by being listed on the list of Specially Designated Nationals and Blocked Persons issued by OFAC) or the U.S. Department of State. 

“Schedule” refers to a specific schedule to this Agreement, unless another document is specifically referenced. 

“Scheduled Unavailability Date” is defined in Section 3.07(b). 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Section” means a numbered section of this Agreement, unless another document is specifically referenced.

  
 23 

 “Sterling” and “£” mean the lawful currency of the
United Kingdom. 
 “Subsidiary” of a Person means (a) any corporation more than fifty percent (50%) of the outstanding
securities having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (b) any
partnership, limited liability company, association, joint venture or similar business organization more than fifty percent (50%) of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled. Unless
otherwise expressly provided, all references herein to a “Subsidiary” shall mean a Subsidiary of WBA. 
 “Subsidiary
Borrower Obligations” is defined in Section 16.01. 
 “Substantial Portion” means, on any date of
determination, with respect to the Property of WBA and its Subsidiaries, Property which represents more than fifteen percent (15%) of the Consolidated Assets of WBA and its Subsidiaries on such date, after intercompany eliminations and excluding
GAAP operating lease right-of-use assets. 
 “Swing
Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.02. 
 “Swing Line Lender” means
Wells Fargo in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder. 
 “Swing Line
Loan” has the meaning set forth in Section 2.02. 
 “Swing Line Loan Borrowing Notice” has the meaning set
forth in Section 2.02. 
 “Swing Line Note” is defined in Section 2.13(d). 

“Swing Line Sublimit” means an amount equal to the lesser of (a) $350,000,000 and (b) the Aggregate 18-Month Tranche Commitment. The Swing Line Sublimit is part of, and not in addition to, the Aggregate 18-Month Tranche Commitment. 

“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 Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro. 

“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. 

  
 24 

 “Taxes” means all present or future taxes, levies, imposts, duties,
deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Total Capitalization” means Consolidated Debt plus Consolidated Net Worth. 

“Total Tangible Assets” means, at any date of determination, Consolidated Assets less the sum of
(i) Intangible Assets and (ii) the amount of Capitalized Leases included as assets on the consolidated balance sheet of WBA and its Subsidiaries as at the end of WBA’s fiscal quarter ending prior to such date. 

“Tranche” means (a) with respect to Commitments, whether such Commitments are
364-Day Tranche Commitments or 18-Month Tranche Commitments, (b) with respect to Loans, whether such Loans are under the
364-Day Revolving Facility or the 18-Month Revolving Facility, (c) with respect to Lenders, whether such Lenders are 364-Day
Tranche Lenders or 18-Month Tranche Lenders and (d) with respect to any Revolving Facility, whether such Revolving Facility is the 364-Day Revolving Facility or the
18-Month Revolving Facility. 
 “Transferee” is defined in Section 12.03. 

“Type” means, with respect to any Revolving Loan, its nature as an Alternate Base Rate Loan or a Eurocurrency Loan, as
applicable. 
 “UK 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. 

“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for
the resolution of any UK Financial Institution. 
 “U.S. Patriot Act” means the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended. 

“Unfunded Liabilities” means the amount (if any) by which the present value of all vested and unvested accrued benefits under
all Plans exceeds the fair market value of all such Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plans using PBGC actuarial assumptions for single employer plan terminations. 

“Unmatured Default” means an event which but for the lapse of time or the giving of notice, or both, would constitute a
Default. 

  
 25 

 “Unrealized Losses” means the fair market value of the cost to any Person
of replacing a Rate Management Transaction as of the date of determination (assuming the Rate Management Transaction were to be terminated as of that date). 

“Unrealized Profits” means the fair market value of the gain to any Person of replacing a Rate Management Transaction as of
the date of determination (assuming such Rate Management Transaction were to be terminated as of that date). 
 “WBA” is
defined in the preamble. 
 “Wells Fargo” means Wells Fargo Bank, National Association. 

“Wholly-Owned Subsidiary” of a Person means (a) any Subsidiary all of the outstanding voting securities of which shall
at the time be owned or controlled, directly or indirectly, 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, or (b) any partnership, limited
liability company, association, joint venture or similar business organization 100% of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled. 

“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 UK 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. 
 The foregoing
definitions shall be equally applicable to both the singular and plural forms of the defined terms. 
 Any accounting terms used in this
Agreement which are not specifically defined herein shall have the meanings customarily given them in accordance with Agreement Accounting Principles. 

Section 1.02 References. Any references to WBA’s Subsidiaries shall not in any way be construed as
consent by the Administrative Agent or any Lender to the establishment, maintenance or acquisition of any Subsidiary, except as may otherwise be permitted hereunder. 

  
 26 

 Section 1.03 Exchange Rates, Basket Calculations, Eurocurrency
Rate and Eurocurrency Base Rate. (a) The Administrative Agent shall determine the Exchange Rate in respect of each Revaluation Date to be used for calculating Dollar Equivalent amounts of Revolving Loans denominated in Foreign Currencies.
Such Exchange Rates shall become effective as of such Revaluation Date and shall be the Exchange Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes of financial
statements delivered by WBA hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent
amount as so determined by the Administrative Agent based on the Exchange Rate in respect of the date of such determination as if such date were the Revaluation Date. 

(b) Wherever in this Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Eurocurrency Loan, an amount, such
as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing or Eurocurrency Loan is denominated in a Foreign Currency, such amount shall be the relevant Foreign Currency equivalent of such Dollar amount (rounded to the
nearest unit of such Foreign Currency, with 0.5 of a unit being rounded upward), as determined by the Administrative Agent on the basis of the Exchange Rate (determined in respect of the most recent Revaluation Date). 

(c) For purposes of determining compliance with Section 6.09, no Unmatured Default or Default shall be deemed to have occurred solely as a
result of changes in Exchange Rates occurring after the time any Lien is created or incurred. 
 (d) For purposes of determining compliance
with Section 6.10, the amount of Indebtedness for Borrowed Money denominated in any currency other than Dollars will be converted into Dollars based on the relevant Exchange Rate(s) in effect as of the last day of the fiscal quarter of WBA for
which the ratio of Consolidated Debt to Total Capitalization is calculated. 
 (e) The interest rate on Eurocurrency Loans, Swing Line Loans
and Alternate Base Rate Loans (when determined by reference to clause (b) of the definition of Eurocurrency Base Rate) is determined by reference to LIBOR, which is derived from the London interbank offered rate. The London interbank offered
rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no
longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London
interbank offered rate. As a result, it is possible that commencing as early as 2022, the London interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on
some or all Eurocurrency Loans, Swing Line Loans and Alternate Base Rate Loans (when determined by reference to clause (b) of the definition of Eurocurrency Base Rate). In light of this eventuality, public and private sector industry
initiatives are currently underway to identify new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the London interbank offered rate is no longer available or in certain other

  
 27 

 
circumstances set forth in Section 3.07(b), such Section 3.07(b) provides a mechanism for determining an alternative rate of interest. The
Administrative Agent will notify the Borrower in advance, pursuant to Section 3.07(b), of any change to the reference rate upon which the interest rate on Eurocurrency Loans, Swing Line Loans and Alternate Base Rate Loans
(when determined by reference to clause (b) of the definition of Eurocurrency Base Rate) is based. However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the
administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBOR” or with respect to any alternative or successor rate thereto, or replacement rate thereof, including
whether the composition or characteristics of any such alternative, successor or replacement reference rate, as it may or may not be adjusted pursuant to Section 3.07(b), will be similar to, or produce the same value
or economic equivalence of, LIBOR or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability. 

Section 1.04 Change of Currency. (a) Each obligation of the Borrowers under this Agreement to make a
payment denominated in the national currency unit of any member state of the European Union that adopts the Euro in accordance with the legislation of the European Union relating to Economic and Monetary Union as its lawful currency after the date
hereof shall be redenominated into Euro at the time of such adoption, provided that if and to the extent that such legislation or member state provides that any such obligation may be paid by debtors in either the Euro or such other currency, then
the Borrowers shall be permitted to repay such amount either in the Euro or such other currency. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall
be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such
member state adopts the Euro as its lawful currency; provided that if any borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such borrowing, at the
end of the then-current Interest Period. 
 (b) Each provision of this Agreement shall be subject to such reasonable changes of construction
as the Administrative Agent may from time to time specify to be reasonably necessary to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro. 

(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Administrative Agent may from time
to time specify to be reasonably necessary to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency. 

  
 28 

 ARTICLE II 

THE CREDITS 

Section 2.01 Revolving Loans. (a)  

(i) From and including the Effective Date and prior to the Facility Termination Date for the
364-Day Revolving Facility, upon the satisfaction of the conditions precedent set forth in Section 4.02 and 4.03 (as applicable), each 364-Day Tranche Lender
severally and not jointly agrees, on the terms and conditions set forth in this Agreement, to make revolving loans (“364-Day Tranche Loans”) to any Borrower from time to time in amounts not to
exceed in the aggregate at any one time outstanding its Pro Rata Share of the Aggregate 364-Day Tranche Commitment; provided that after giving effect to such
364-Day Tranche Loans, (a) the aggregate principal Dollar Equivalent of all 364-Day Tranche Lenders’ 364-Day Tranche
Loans outstanding at such time, after giving effect to any borrowings and prepayments or repayments of any 364-Day Tranche Loans occurring on such date, shall not exceed the Aggregate 364-Day Tranche Commitment at such time and (b) with respect to any 364-Day Tranche Lender, the aggregate principal Dollar Equivalent of such 364-Day Tranche Lender’s 364-Day Tranche Loans outstanding at such time, after giving effect to any borrowings and prepayments or repayments of any 364-Day Tranche Loans occurring on such date, shall not exceed such 364-Day Tranche Lender’s 364-Day Tranche Commitment at
such time, which 364-Day Tranche Loans (other than Alternate Base Rate Loans) may, at the applicable Borrower’s election, be denominated in Dollars or a Foreign Currency. 

(ii) [Reserved]. 

(iii) From and including the Effective Date and prior to the Facility Termination Date for the
18-Month Revolving Facility, upon the satisfaction of the conditions precedent set forth in Section 4.02 and 4.03 (as applicable), each 18-Month Tranche Lender
severally and not jointly agrees, on the terms and conditions set forth in this Agreement, to make revolving loans (“18-Month Tranche Loans”) to any Borrower from time to time in amounts not
to exceed in the aggregate at any one time outstanding its 18-Month Tranche Pro Rata Share of the Aggregate 18-Month Tranche Commitment; provided that after
giving effect to such 18-Month Tranche Loans, (a) the aggregate principal Dollar Equivalent of all 18-Month Tranche Loans and Swing Line Loans outstanding at such
time, after giving effect to any borrowings and prepayments or repayments of any 18-Month Tranche Loans or Swing Line Loans occurring on such date, shall not exceed the Aggregate 18-Month Tranche Commitment at such time and (b) with respect to any 18-Month Tranche Lender, the aggregate principal Dollar Equivalent of such 18-Month Tranche Lender’s (x) 18-Month Tranche Loans outstanding at such time and (y) 18-Month Tranche Pro Rata Share of the
outstanding Swing Line Loans at such time, after giving effect to any borrowings and prepayments or repayments of any 18-Month Tranche Loans or Swing Line Loans occurring on such date, shall not exceed
such 18-Month Tranche Lender’s 18-Month Tranche Commitment at such time, which 18-Month Tranche Loans (other than Alternate
Base Rate Loans) may, at the applicable Borrower’s election, be denominated in Dollars or a Foreign Currency. 

  
 29 

 (iv) The Borrowing of Revolving Loans shall be allocated to the 364-Day Tranche Loans and/or the 18-Month Tranche Loans as specified in a Revolving Loan Borrowing Notice. 

(v) Subject to the terms of this Agreement, any Borrower may borrow, repay and reborrow Revolving Loans under any Tranche at
any time prior to the applicable Facility Termination Date. Each Borrowing of Revolving Loans under any Tranche shall be in a minimum aggregate principal amount of (x) in the case of Revolving Loans denominated in Dollars, $10,000,000 or any
integral multiple of $1,000,000 in excess thereof, (y) in the case of Revolving Loans denominated in Euro, €10,000,000 or any integral multiple of €1,000,000 in excess thereof and (z) in the case of Revolving Loans denominated in
Sterling, £10,000,000 or any integral multiple of £1,000,000 in excess thereof (or, in each case, if less, the remaining unused Aggregate Commitment of the applicable Tranche as of such date). The Commitments under each Tranche to lend
hereunder shall expire automatically on the applicable Facility Termination Date. Each Revolving Loan under each Tranche shall be made by each Lender under the applicable Tranche in accordance with such Lender’s Pro Rata Share of the Aggregate
Commitment for the applicable Tranche. 
 (b) WBA may at any time from time to time, upon prior written notice by WBA to the Administrative
Agent, increase the Commitments (but not the Swing Line Sublimit) under any one or multiple Tranches (as indicated to the Administrative Agent in writing) by a maximum aggregate amount of up to One Billion Seven Hundred Fifty Million Dollars
($1,750,000,000) with additional Commitments from any existing Lenders and/or with new Commitments from any other Person selected by WBA and reasonably acceptable to the Administrative Agent and the Swing Line Lender; provided that: 

(i) any such increase shall be in a minimum principal amount of $10,000,000 and in integral multiples of $1,000,000 in excess
thereof; 
 (ii) no Default or Unmatured Default shall exist and be continuing at the time of any such increase; 

(iii) no existing Lender shall be under any obligation to increase its Commitment and any such decision whether to increase its
Commitment shall be in such Lender’s sole and absolute discretion; 
 (iv) (A) any new Lender shall join this Agreement
by executing such joinder documents required by the Administrative Agent and/or (B) any existing Lender electing to increase its Commitment shall have executed a commitment agreement reasonably satisfactory to the Administrative Agent; and 

  
 30 

 (v) as a condition precedent to such increase, WBA shall (x) deliver to
the Administrative Agent a certificate dated as of the date of such increase signed by an Authorized Officer of WBA (A) certifying and attaching the resolutions adopted by WBA approving or consenting to such increase, and (B) certifying
that, before and after giving effect to such increase, (1) the representations and warranties contained in Article V are true and correct in all material respects (except to the extent such representations and warranties are qualified with
“materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) on and as of the date of such increase, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (except to the extent such representations and warranties are qualified with “materiality” or
“Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) on and as of such earlier date and (2) no Default or Unmatured Default exists immediately before
or after giving effect to the incurrence of such increase and (y) pay any applicable fee related to such increase (including, without limitation, any applicable arrangement, upfront and/or administrative fee). 

In connection with the effectiveness of any increase under this Section 2.01(b), (x) the Commitment Schedule shall be
deemed amended to reflect such increase and the updated Commitments and Pro Rata Shares of the Lenders, (y) the Administrative Agent shall promptly notify WBA and the Lenders of the updated Commitment Schedule and (z) to the extent
necessary to keep any outstanding Loans (and, with respect to the 18-Month Revolving Facility, any participations in Swing Line Loans) under any applicable Tranche allocated ratably to the Lenders under the
applicable Tranche in accordance with their updated Pro Rata Shares, WBA shall (or shall cause the applicable Borrower to) prepay (or, if the Administrative Agent determines in its sole discretion that a
re-allocation of the Loans under the applicable Tranche can be accomplished without any cash prepayments or new cash Loans under the applicable Tranche by the Lenders, be deemed to have prepaid) any Loans
owing by it (or such Borrower, as applicable) under the applicable Tranche and outstanding on the date of any such increase (and pay any additional amounts required pursuant to Section 3.04). The provisions of this Section 2.01(b)
involving non-pro rata allocations, prepayments and Loans shall supersede any provisions in Sections 2.19 or 8.02 to the contrary. 

Section 2.02 Swing Line Loans. 

(a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender agrees, in reliance upon the agreements
of the other 18-Month Tranche Lenders set forth in this Section 2.02, to make loans (each such loan, a “Swing Line Loan”) to any Borrower from time to time on any Business Day during the
period from and including the Effective Date and prior to the Facility Termination Date for the 18-Month Revolving Facility in an aggregate amount not to exceed at any time outstanding the amount of the Swing
Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the 18-Month Tranche Pro Rata Share of the outstanding amount of 18-Month
Tranche Loans of the 18-Month Tranche Lender acting as Swing Line Lender, may exceed the amount of such 18-Month Tranche Lender’s
18-Month Tranche Commitment; provided that after giving effect to any Swing Line Loan, (a) the aggregate principal Dollar Equivalent of all 18-Month Tranche
Loans 

  
 31 

 
and Swing Line Loans outstanding at such time, after giving effect to any borrowings and prepayments or repayments of any 18-Month Tranche Loans or Swing
Line Loans occurring on such date, shall not exceed the Aggregate 18-Month Tranche Commitment at such time and (b) with respect to any 18-Month Tranche
Lender, the aggregate principal Dollar Equivalent of such 18-Month Tranche Lender’s (x) 18-Month Tranche Loans outstanding at such time and (y) 18-Month Tranche Pro Rata Share of the outstanding Swing Line Loans at such time, after giving effect to any borrowings and prepayments or repayments of any 18-Month Tranche
Loans or Swing Line Loans occurring on such date, shall not exceed such 18-Month Tranche Lender’s 18-Month Tranche Commitment at such time. Within the
foregoing limits, and subject to the other terms and conditions hereof, any Borrower may borrow under this Section 2.02, prepay under Section 2.07, and reborrow under this Section 2.02. Swing Line Loans shall be repaid by the Borrower
in accordance with Section 2.07(c). Immediately upon the making of a Swing Line Loan, each 18-Month Tranche Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from
the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such 18-Month Tranche Lender’s 18-Month Tranche Pro Rata
Share times the amount of such Swing Line Loan. 
 (b) Swing Line Borrowing Procedures. Each Swing Line Borrowing shall be made upon
any Borrower’s written notice to the Swing Line Lender and the Administrative Agent substantially in the form of Exhibit D-2 or such other form as may be approved by the Swing Line Lender (including any
form on an electronic platform or electronic transmission system as shall be approved by the Swing Line Lender), in each case appropriately completed and signed by an Authorized Officer of the applicable Borrower (a “Swing Line Loan
Borrowing Notice”). Each such notice must be received by the Swing Line Lender and the Administrative Agent not later than 2:00 p.m. (New York time) on the requested borrowing date, and shall specify (i) the amount to be borrowed,
which shall be a minimum of $500,000, and (ii) the requested borrowing date, which shall be a Business Day. Swing Line Loans shall bear interest based on the LIBOR Daily Floating Rate and be denominated in Dollars. In the event that the Swing
Line Lender and the Administrative Agent are not the same Person, promptly after receipt by the Swing Line Lender of any Swing Line Loan Borrowing Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing)
that the Administrative Agent has also received such Swing Line Loan Borrowing Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof. Subject to the terms and conditions
hereof, the Swing Line Lender will (i) after receipt of any Swing Line Loan Borrowing Notice delivered on the date of the requested borrowing, by the later of 11:00 a.m. (New York time) and one (1) hour after delivery of such Swing Line
Loan Borrowing Notice, and (ii) after receipt of any other Swing Line Loan Borrowing Notice, by 11:00 a.m. (New York time) on the borrowing date specified in such Swing Line Loan Borrowing Notice, make the amount of its Swing Line Loan
available to the applicable Borrower. 
 The location and number of the applicable Borrower’s account to which proceeds of the Swing
Line Loans are to be disbursed shall be set forth in written settlement instructions executed by two Authorized Officers of the applicable Borrower (neither of which shall hold the title of Vice President, Global Treasury) and the Swing Line Lender
shall have confirmed such 

  
 32 

 
location and number of such Borrower’s account to which proceeds of a Swing Line Loan are to be disbursed orally by telephone. Any change to the location and number of the applicable
Borrower’s account to which proceeds of a Swing Line Loan are to be disbursed shall be set forth in written settlement instructions executed by two Authorized Officers of the applicable Borrower (neither of which shall hold the title of Vice
President, Global Treasury) and the Swing Line Lender shall have confirmed such change to the location and number of such Borrower’s account to which proceeds of a Swing Line Loan are to be disbursed orally by telephone. 

(c) Participations in Swing Line Loans. 

(i) The Swing Line Lender at any time in its sole and absolute discretion may request in writing that each 18-Month Tranche Lender with a 18-Month Tranche Commitment fund its risk participation in any Swing Line Loan. Upon receipt of such request, each 18-Month Tranche Lender shall make an amount equal to its 18-Month Tranche Pro Rata Share of the amount of the applicable Swing Line Loan specified in such written request
available to the Administrative Agent in immediately available funds for the account of the Swing Line Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such request. The Administrative Agent shall
remit the funds so received to the Swing Line Lender. 
 (ii) If any 18-Month Tranche
Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any amount required to be paid by such 18-Month Tranche Lender pursuant to the foregoing provisions of this
Section 2.02(c) by the time specified in Section 2.02(c)(i), the Swing Line Lender shall be entitled to recover from such 18-Month Tranche Lender (acting through the Administrative Agent), on demand,
such amount 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 Swing Line Lender at a rate per annum equal to the greater of the Federal Funds Rate and a rate
determined by the Swing Line Lender in accordance with banking industry rules on interbank compensation. A certificate of the Swing Line Lender submitted to any 18-Month Tranche Lender (through the
Administrative Agent) with respect to any amounts owing under this clause (ii) shall be conclusive absent manifest error. 

(iii) Each 18-Month Tranche Lender’s obligation to purchase and fund risk
participations in Swing Line Loans pursuant to this Section 2.02(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such 18-Month Tranche Lender may have against the Swing Line Lender, any Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default or Unmatured Default, (C) the
failure to satisfy any of the other conditions specified in Article IV, (D) any adverse change in the condition (financial or otherwise) of the Borrowers, (E) any breach of this Agreement or any other Loan Document by the Borrowers
or any Lender or (F) any other occurrence, event or condition, whether or not similar to any of the foregoing. No such funding of risk participations shall relieve or otherwise impair the obligation of the applicable Borrower to repay Swing
Line Loans, together with interest as provided herein. 

  
 33 

 (d) Repayment of Participations. 

(i) At any time after any 18-Month Tranche Lender has purchased and funded a risk
participation in a Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such 18-Month Tranche Lender its 18-Month Tranche Pro Rata Share of such payment (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such 18-Month Tranche
Lender’s risk participation was funded) in the same funds as those received by the Swing Line Lender. 
 (ii) If any
payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required to be returned by the Swing Line Lender in bankruptcy or otherwise (including pursuant to any settlement entered into by the Swing Line
Lender in its discretion), each 18-Month Tranche Lender shall pay to the Swing Line Lender its 18-Month Tranche Pro Rata Share thereof on demand of the Administrative
Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Overnight Rate. The Administrative Agent will make such demand upon the request of the Swing Line Lender. The obligations
of the 18-Month Tranche Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the applicable Borrower for
interest on the Swing Line Loans. Until each 18-Month Tranche Lender funds its risk participation pursuant to this Section 2.02 to pay such 18-Month Tranche
Lender’s 18-Month Tranche Pro Rata Share of any Swing Line Loan, interest in respect of such 18-Month Tranche Pro Rata Share shall be solely for the account of the
Swing Line Lender. 
 (f) Payments Directly to Swing Line Lender. The applicable Borrower shall make all payments of principal and
interest in respect of the Swing Line Loans directly to the Swing Line Lender. 
 Section 2.03 Extension of
Maturity Date. (a) WBA may extend the Maturity Date with respect to one or multiple Tranches for additional periods of 364 days or eighteen months (in each case, a “Maturity Date Extension”), by providing written notice of such
request to the Administrative Agent not more than 90 days and not less than 30 days prior to the Maturity Date for the applicable Tranche then in effect (such anniversary of the applicable Maturity Date, the “Extension Date”). The
Administrative Agent shall promptly notify each Lender under the applicable Tranche of such request and each Lender under the applicable Tranche shall then, in its sole discretion, notify WBA and the Administrative Agent in writing within 10
Business Days after such request whether such Lender will consent to the extension (each such Lender 

  
 34 

 
consenting to the applicable extension, a “Consenting Lender”). The failure of any Lender to notify WBA and the Administrative Agent of its intent to consent to an extension
within such period shall be deemed a rejection by such Lender, as applicable. Such extension shall be effective as to Consenting Lenders under the applicable Tranche if the Required Tranche Lenders approve such Maturity Date Extension for such
Tranche; provided, in each case, that (A) the applicable Maturity Date following any such extension for the applicable Tranche shall not be a date that is more than eighteen months after the applicable Extension Date and (B) at the
existing Maturity Date for the applicable Tranche in effect prior to each Maturity Date Extension, (1) the commitments of Lenders (including, for the avoidance of doubt, the Swing Line Lender) under the applicable Tranche that did not consent
to such Maturity Date Extension (each such Lender not consenting to the extension, a “Declining Lender”) will be terminated and the Loans of such Lenders (or participations in any Swing Line Loans) under the applicable Tranche will
be repaid (it being understood that the commitments of the Declining Lenders not consenting to such extension will remain in effect until the Maturity Date for the applicable Tranche originally applicable to such Lenders) and (2) the applicable
Borrower shall make such additional prepayments as shall be necessary in order that the Loans under the applicable Tranche immediately after such existing Maturity Date will not exceed, respectively, the Aggregate Commitments under the applicable
Tranche. 
 (b) The consent of Declining Lenders will not be required; provided that Consenting Lenders constituting the Required
Tranche Lenders have approved such Maturity Date Extension; provided that WBA shall have the right, at any time prior to the existing Maturity Date for the applicable Tranche, to obtain the signatures of the Required Tranche Lenders by
replacing Declining Lenders with Consenting Lenders willing (in their sole discretion) to increase their existing commitments (each such Lender, an “Existing Extending Lender”), or other financial institutions willing (in their sole
discretion) to become Lenders and extend new commitments under the applicable Tranche, on terms consistent with Section 2.17 (each such Lender, a “New Extending Lender”), in each case on the existing Maturity Date for the
applicable Tranche. If any Lender under the applicable Tranche rejects, or is deemed to have rejected, WBA’s request for an extension under a Tranche, WBA may replace Declining Lenders with Existing Extending Lenders or New Extending Lenders
for such Tranche, in each case on the existing Maturity Date for the applicable Tranche. In connection with any such replacement pursuant to this clause (b), the Administrative Agent shall, in respect of each applicable Tranche, enter in the
Register (A) the names of any New Extending Lenders, (B) the Maturity Date applicable to each Lender and (C) the respective allocations of any Declining Lenders, Consenting Lenders, Existing Extending Lenders and New Extending Lenders
effective as of the applicable Maturity Date applicable thereto. No action by or consent of any Declining Lender shall be necessary in connection with such assignment. In connection with any such assignment, WBA, Administrative Agent, such Declining
Lender and the replacement Lender shall otherwise comply with Section 12.01; provided that if such Declining Lender does not comply with Section 12.01 within five (5) Business Days after WBA’s request, compliance with
Section 12.01 (but only on the part of the Declining Lender) shall not be required to effect such assignment. 

  
 35 

 (c) If any financial institution or other entity becomes a New Extending Lender or any
Existing Extending Lender’s Commitment is increased pursuant to Section 2.03(b), (x) Loans (or, if applicable, participations in Swing Line Loans) made on or after the existing Maturity Date of the applicable Tranche shall be made in
accordance with Section 2.01(a) or (b) or Section 2.02(a), as applicable, based on the respective Commitments under the applicable Tranche in effect on and after such existing Maturity Date and (y) if, on the date of such joinder
or increase, there are any Loans outstanding under the applicable Tranche, such Loans shall on or prior to such date be prepaid from the proceeds of new Loans made hereunder (reflecting such additional Lender or increase), which prepayment shall be
accompanied by accrued interest on the applicable Loans being prepaid and any costs incurred by any applicable Lender in accordance with Section 3.04. 

(d) Each such Maturity Date Extension will not be effective as to any Lender unless (a) no Default or Unmatured Default shall have
occurred and be continuing on or as of the date of such extension and (b) all representations and warranties of WBA set forth in Article V shall be true and correct in all material respects (except to the extent such representations and
warranties are qualified by “materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) as if made on and as of the date of such
extension, except to the extent a representation or warranty is stated to relate solely to an earlier date, in which case the representation or warranty shall be true and correct in all material respects (except to the extent such representations
and warranties are qualified with “materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) on and as such earlier date. 

(e) The Administrative Agent shall promptly notify the Lenders under the applicable Tranche of the effectiveness of each extension pursuant to
this Section 2.03. 
 Section 2.04 Types of Revolving Loans. The Revolving Loans may consist of
Alternate Base Rate Loans or Eurocurrency Loans, or a combination thereof, selected by the applicable Borrower in accordance with Sections 2.08 and 2.09. 

Section 2.05 Fees; Reductions in Aggregate Commitment.  

(a) Commitment Fee. WBA agrees to pay to the Administrative Agent for the account of each Lender under each Tranche a commitment fee in
Dollars (the “Commitment Fee”) at a per annum rate equal to the Commitment Fee Rate for the applicable Tranche on the daily actual excess of such Lender’s Commitment under such Tranche over the outstanding principal Dollar
Equivalent of such Lender’s outstanding Loans under such Tranche (such excess, such Lender’s “Actual Unused Commitments”) as adjusted pursuant to Section 2.05(c), accruing from and including the Effective Date to and
including the date on which the Commitments under the applicable Tranche have been terminated in full and all Obligations under such Tranche have been paid in full pursuant to Section 2.07(c), payable quarterly in arrears on each Payment Date
for such Tranche; provided that with respect to calculation of the 

  
 36 

 
Commitment Fee under the 18-Month Revolving Facility, any outstanding Swing Line Loans shall not constitute outstanding Loans hereunder; provided,
further, that, with respect to each Tranche, no Commitment Fee shall accrue hereunder with respect to the Actual Unused Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. 

(b) Fee Letter. WBA shall pay to (i) the Arrangers and the Administrative Agent, for their respective accounts, fees in the amount
and at the time specified in the applicable Fee Letter and (ii) the Administrative Agent, for the account of each of the Lenders as of the Effective Date, the fee in the amount and at the time specified in the applicable Fee Letter. Such fees
shall be fully earned when paid and shall be non-refundable for any reason whatsoever. 
 (c)
Voluntary Reductions in Aggregate Commitment. WBA shall have the right, upon same day written notice to the Administrative Agent delivered prior to 11:00 a.m. (New York time) on any Business Day, to terminate in whole or reduce in part the
unused portions of the Commitments under any Tranche of the applicable Lenders at the election of WBA. Each partial reduction of the Commitments shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof
and, once terminated, a Commitment may not be reinstated; provided that (i) WBA shall not be permitted to terminate in whole or reduce in part the Commitments under a Tranche to the extent that, after giving effect to such termination,
the then outstanding Dollar Equivalent of Loans under such Tranche would exceed the Aggregate Commitment under such Tranche and (ii) if, after giving effect to any reduction of the Aggregate 18-Month
Tranche Commitment, the Swing Line Sublimit exceeds the amount of the Aggregate 18-Month Tranche Commitment, such Swing Line Sublimit shall be automatically reduced by the amount of such excess. The
Administrative Agent will promptly notify the Lenders under the applicable Tranche of any termination or reduction of the Commitments under this Section 2.05(c). Each voluntary reduction of the Commitments pursuant to this Section 2.05(c)
will be applied to the outstanding Commitments of each Lender under the applicable Tranche specified by the applicable Borrower in accordance with such Lender’s Pro Rata Share of the applicable Revolving Facility. All fees in respect of the
Commitments (including any Commitment Fees) accrued until the effective date of any termination of such Commitments shall be paid on the effective date of such termination. . 

(d) Automatic Reductions in Commitments. The Aggregate Commitment under each Tranche shall terminate on the Facility Termination Date
for such Tranche. 
 Section 2.06 [Reserved]. 

Section 2.07 Prepayments and Repayments. 

(a) Optional Prepayments. 

(i) Each Borrower may from time to time pay, without penalty or premium, all of its outstanding Alternate Base Rate Loans, or,
in a minimum aggregate amount of $10,000,000 or any integral multiple of $1,000,000 in excess thereof, any portion of its outstanding Alternate Base Rate Loans upon prior notice to the Administrative Agent

  
 37 

 
(which may be in a form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent) (stating the Tranche of Revolving Loans to be prepaid at the
direction of the applicable Borrower and the proposed date and aggregate principal amount of the applicable prepayment) at or before 1:00 p.m. (New York time) on the date of such payment. Each Borrower may from time to time pay, subject to the
payment of any funding indemnification amounts required by Section 3.04 but without penalty or premium, all of its outstanding Eurocurrency Loans, or, in a minimum aggregate amount of (x) in the case of Eurocurrency Loans denominated in
Dollars, $10,000,000 or any integral multiple of $1,000,000 in excess thereof, (y) in the case of Eurocurrency Loans denominated in Euro, €10,000,000 or any integral multiple of €1,000,000 in excess thereof and (z) in the case of
Eurocurrency Loans denominated in Sterling, £10,000,000 or any integral multiple of £1,000,000 in excess thereof, any portion of its outstanding Eurocurrency Loans upon prior notice to the Administrative Agent (stating the Tranche of
Revolving Loans to be prepaid at the direction of the applicable Borrower and the proposed date and aggregate principal amount of the applicable prepayment) at or before 1:00 p.m. (New York time) at least two (2) Business Days prior, in
the case of any Eurocurrency Loans denominated in Dollars, and at least four (4) Business Days prior, in the case of any Eurocurrency Loans denominated in a Foreign Currency, to the date of such payment (or, subject to the payment of any
funding indemnification amounts, if any, required by Section 3.04, such other prior notice as the Administrative Agent may agree to). Subject to Section 2.20, each such prepayment shall be applied to the Revolving Loans outstanding under
the applicable Tranche specified by the applicable Borrower and will be applied to the outstanding Revolving Loans of each Lender under the applicable Tranche in accordance with such Lender’s Pro Rata Share of the applicable Revolving Facility.

 (ii) Each Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or
from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. (New
York time) on the date of the prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify the date and amount of such prepayment. If such notice is given by any Borrower, such
Borrower shall make such prepayment, and the payment amount specified in such notice shall be due and payable on the date specified therein. 

(b) Mandatory Prepayments. 

(i) If the Administrative Agent notifies WBA, at any time, that the Dollar Equivalent with respect to Revolving Loans under any
Tranche denominated in any Foreign Currency plus the then outstanding amount of Loans under such Tranche denominated in Dollars, exceeds the Aggregate Commitment for such Tranche, then WBA shall (or shall cause any Designated Borrower to)
within five business days, prepay such Loans or take such other action, in each case, to the extent necessary to eliminate any such excess. 

  
 38 

 (ii) If for any reason the outstanding amount of all Swing Line Loans
exceeds the Swing Line Sublimit, WBA shall (or shall cause the applicable Borrower) to immediately prepay the Swing Line Loans in an aggregate amount equal to such excess. 

(c) Repayments. 

(i) WBA shall pay (or shall cause any applicable Borrower to pay) any unpaid principal of and accrued and unpaid Obligations on
or relating to the Revolving Loans under each Tranche in full on the Facility Termination Date for such Tranche. 
 (ii) WBA
shall pay (or shall cause any applicable Borrower to pay) any unpaid principal of and accrued and unpaid Obligations on or relating to the Swing Line Loans on the earlier to occur of (i) the date fourteen (14) days after such Swing Line
Loan is made and (ii) the Facility Termination Date for the 18-Month Revolving Facility. 

(iii) The Commitments hereunder shall terminate, and all Obligations shall become due and payable, on the latest Facility
Termination Date then in effect (giving effect to extensions thereof). Notwithstanding any such termination, this Agreement shall not terminate until all of the Obligations (other than contingent indemnity and reimbursement obligations) shall have
been fully paid and satisfied and all financing arrangements among each Borrower and the Lenders hereunder and under the other Loan Documents shall have been terminated. 

Section 2.08 Method of Selecting Types and Interest Periods for New Revolving Loans. In the
case of Revolving Loans, the applicable Borrower shall select the Type of Borrowing and, in the case of each Eurocurrency Loan, the Interest Period applicable thereto from time to time in accordance with this Section 2.08. The applicable
Borrower shall give the Administrative Agent notice (which notice may be conditioned on the satisfaction or waiver (in accordance with Section 8.02) of the conditions set forth in Section 4.02 and 4.03 (as applicable)) by a borrowing
notice substantially in the form of Exhibit D-1 or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be
approved by the Administrative Agent), in each case appropriately completed and signed by an Authorized Officer of the applicable Borrower (a “Revolving Loan Borrowing Notice”); provided that each such Revolving Loan
Borrowing Notice must be received no later than (x) 11:00 a.m. (New York time) on the date of the proposed borrowing of each Alternate Base Rate Loan, (y) 11:00 a.m. (New York time) two (2) Business Days before the date of the proposed
borrowing of each Eurocurrency Loan denominated in Dollars and (z) 11:00 a.m. (New York time) four (4) Business Days before the Borrowing Date for each Eurocurrency Loan denominated in a Foreign Currency (or, in the case of any Eurocurrency
Loan denominated in Dollars to be made on the Effective Date, one (1) Business Day prior to the Effective Date). A Revolving Loan Borrowing Notice shall specify: 

  
 39 

 (a) the date of the proposed borrowing, which shall be a Business Day, of such Revolving
Loans, 
 (b) the aggregate amount and currency of the Revolving Loans comprising the proposed borrowing and the amount of the proposed
borrowing that represents a 364-Day Tranche Loan and/or a 18-Month Tranche Loan (which shall be determined in accordance with Section 2.01(a)(iv) and which
Revolving Loan under each applicable Tranche shall be in a minimum aggregate principal amount of (x) in the case of Revolving Loans denominated in Dollars, $10,000,000 or any integral multiple of $1,000,000 in excess thereof, (y) in the
case of Revolving Loans denominated in Euro, €10,000,000 or any integral multiple of €1,000,000 in excess thereof and (z) in the case of Revolving Loans denominated in Sterling, £10,000,000 or any integral multiple of
£1,000,000 in excess thereof (or, in each case, if less, the unused Aggregate Commitment under the applicable Tranche as of such date)), 

(c) the Type and currency of Borrowing selected and whether such Borrowing is for a Revolving Loan is a
364-Day Tranche Loan and/or a 18-Month Tranche Loan, 
 (d)
the identity of the applicable Borrower, and 
 (e) in the case of a proposed borrowing comprised of Eurocurrency Loans, the Interest Period
applicable thereto. 
 The location and number of the applicable Borrower’s account to which proceeds of the Revolving Loans are to be
disbursed shall be set forth in written settlement instructions executed by two Authorized Officers of the applicable Borrower (neither of which shall hold the title of Vice President, Global Treasury) and the Administrative Agent shall have
confirmed such location and number of such Borrower’s account to which proceeds of a Revolving Loan are to be disbursed orally by telephone. Any change to the location and number of the applicable Borrower’s account to which proceeds of a
Revolving Loan are to be disbursed shall be set forth in written settlement instructions executed by two Authorized Officers of the applicable Borrower (neither of which shall hold the title of Vice President, Global Treasury) and the Administrative
Agent shall have confirmed such change to the location and number of such Borrower’s account to which proceeds of a Revolving Loan are to be disbursed orally by telephone. 

If the applicable Borrower fails to specify a currency in a Revolving Loan Borrowing Notice requesting a Revolving Loan, then the Revolving
Loan so requested shall be made in Dollars. 
 No more than ten (10) Interest Periods shall be in effect at any time (unless such limit
has been waived by the Administrative Agent in its sole discretion). 

  
 40 

 Section 2.09 Conversion and Continuation of Outstanding
Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in
accordance with Section 2.07. Swing Line Loans shall continue bearing interest based on the LIBOR Daily Floating Rate until such Swing Line Loans are prepaid or repaid in accordance with Section 2.07 (and, for the avoidance of doubt, Swing
Line Loans may not be converted into Alternate Base Rate Loans or Eurocurrency Loans). Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan
shall be automatically converted into an Alternate Base Rate Loan (provided, that in the case of a Eurocurrency Loan denominated in a Foreign Currency, such Eurocurrency Loan shall be continued as a Eurocurrency Loan in its original currency
with an Interest Period of one month), unless (x) such Eurocurrency Loan is or was repaid in accordance with Section 2.07 or (y) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as
defined below) requesting that, at the end of such Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. Each Borrower may elect from time to time to convert all or any part of an Alternate
Base Rate Loan into a Eurocurrency Loan of the same Tranche. No Revolving Loan may be converted into or continued as a Revolving Loan denominated in a different currency, but instead must be prepaid in the original currency of such Revolving Loan
and reborrowed in the other currency. Notwithstanding anything to the contrary contained in this Section 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is
continuing each Eurocurrency Loan shall be continued as a Revolving Loan in its original currency with an Interest Period not longer than one month. The applicable Borrower shall give the Administrative Agent notice substantially in the form of
Exhibit E or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), in each case appropriately completed and
signed by an Authorized Officer of the applicable Borrower (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each
such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least two (2) Business Days, in the case of any Loans denominated in Dollars, and at least four (4) Business Days, in the case of any
Eurocurrency Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, specifying: 
 (a) the
requested date, which shall be a Business Day, of such conversion or continuation, 
 (b) the aggregate amount, Type and currency of the
Revolving Loan which is to be converted or continued as a Eurocurrency Loan and whether such Revolving Loan is a 364-Day Tranche Loan or a 18-Month Tranche Loan (which,
for the avoidance of doubt, must be the same as the current Tranche of such Loan), and 
 (c) the duration of the Interest Period applicable
thereto. 

  
 41 

 Section 2.10 Interest Rates.  

(a) Each Alternate Base Rate Loan shall bear interest on the outstanding principal amount thereof, for each day from and including the date
such Revolving Loan is made or is converted from a Eurocurrency Loan into an Alternate Base Rate Loan pursuant to Section 2.09 hereof, to but excluding the date it is paid or is converted into a Eurocurrency Loan pursuant to Section 2.09
hereof, at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin for such day. Changes in the rate of interest on that portion of any Revolving Loan maintained as an Alternate Base Rate Loan will take effect simultaneously
with each change in the Alternate Base Rate. 
 (b) Each Eurocurrency Loan shall bear interest on the outstanding principal amount thereof,
for each day from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the Eurocurrency Rate for the applicable period plus the Applicable Margin. 

(c) Each Swing Line Loan shall bear interest on the outstanding principal amount thereof, for each day from and including the date such Swing
Line Loan is made, to but excluding the date it is paid at a rate per annum equal to the LIBOR Daily Floating Rate plus the Applicable Margin for such day. 

(d) No Interest Period with respect to any Tranche may end after the Maturity Date with respect to such Tranche. 

Section 2.11 Rates Applicable After Default. During the continuance of a Default under
Section 7.02 the Required Lenders may, at their option, by notice to WBA and the applicable Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.02 requiring unanimous
consent of the Lenders to changes in interest rates, and which election and notice shall not be required after a Default or Unmatured Default under Section 7.05 or 7.06), declare that interest on the overdue amount of the Loans shall be payable
at a rate (after as well as before the commencement of any proceeding under any Debtor Relief Laws) equal to 2% per annum in excess of the rate otherwise payable thereon (and, with respect to any other overdue Obligations, shall bear interest at a
rate equal to the Alternate Base Rate plus the Applicable Margin applicable to Alternate Base Rate Loans plus 2% per annum) commencing on the date of such Default and continuing until such Default is cured or waived. 

Section 2.12 Method of Payment. Except as otherwise specified herein, all payments by each Borrower of
principal, interest and its other Obligations shall be made, (i) with respect to Loans denominated in Dollars and the Aggregate Commitment, in Dollars, and (ii) with respect to Loans denominated in any Foreign Currency, in the applicable
Foreign Currency in which such Loans are denominated. All payments of the Obligations hereunder shall be made, without setoff, deduction, or counterclaim, in immediately available funds to the Administrative Agent at the Administrative Agent’s
address specified pursuant to Article XIII, or at any other Lending Installation of the Administrative Agent specified in writing by the Administrative Agent to the applicable Borrower, by 2:00 p.m. (New York time), in the case of any payments made
in 

  
 42 

 
Dollars, and not later than the Applicable Time, in the case of any payments made in a Foreign Currency, in each case, on the date when due and shall be applied ratably by the Administrative
Agent among the Lenders of the applicable Tranche entitled thereto. Each payment delivered to the Administrative Agent for the account of any Lender shall be delivered promptly by the Administrative Agent to such Lender in the same type of funds
that the Administrative Agent received at such Lender’s address specified pursuant to Article XIII or at any Lending Installation specified in a notice received by the Administrative Agent from such Lender. 

Section 2.13 Noteless Agreement; Evidence of Indebtedness. (a) 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 Revolving Loan made by such Lender to such Borrower from time to time, including the amounts of principal and
interest payable and paid to such Lender from time to time hereunder. In addition, each Lender shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Swing Line
Loans. 
 (b) The Administrative Agent shall also maintain accounts in which it will record (A) the date and the amount of each
Revolving Loan made hereunder, the Type and applicable Tranche thereof and the Interest Period applicable thereto, (B) the amount of any principal or interest due and payable or to become due and payable from each Borrower to each Lender
hereunder, (C) the effective date and amount of each Assignment and Assumption delivered to and accepted by it and the parties thereto pursuant to Section 12.01, (D) the amount of any sum received by the Administrative Agent hereunder from
each applicable Borrower and each Lender’s share thereof, and (E) all other appropriate debits and credits as provided in this Agreement, including, without limitation, all fees, charges, expenses and interest. The Administrative Agent
shall also maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by each Lender of participations in Swing Line Loans. In the event of any conflict between the accounts and records maintained by the
Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control absent manifest error. 

(c) The entries maintained in the accounts maintained pursuant to clauses (a) and (b) above shall be prima facie evidence of the
existence and amounts of the Obligations therein recorded; provided, however, that the failure of the Administrative Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of
each Borrower to repay its Obligations in accordance with their terms. 
 (d) Any Lender may request that the Loans made or to be made by it
be evidenced by a promissory note in substantially the form of (i) with respect to 364-Day Tranche Loans or 18-Month Tranche Loans, Exhibit C-1 (each, a “Revolving Note”) and (ii) with respect to Swing Line Loans, Exhibit C-2 (each, a “Swing Line Note”). In
such event, each applicable Borrower shall prepare, execute and deliver to such Lender such Note or Notes payable to such Lender (or its registered assigns). Thereafter, the Loans evidenced by each such Note and interest thereon shall at all times
(including after any assignment pursuant to Section 12.01) be represented by one or more Notes payable to the payee named therein or any assignee pursuant to Section 12.01, except to the extent that any such Lender or assignee subsequently
returns any such Note for cancellation and requests that such Loans once again be evidenced as described in clauses (a) and (b) above. 

  
 43 

 Section 2.14 Interest Payment Dates; Interest and Fee
Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Borrowing Date with respect to such Alternate Base Rate Loan, and on any
date on which the Alternate Base Rate Loan, is prepaid, whether due to acceleration or otherwise, and on the Facility Termination Date applicable to such Alternate Base Rate Loan. Interest accrued on each Swing Line Loan shall be payable on any date
on which such Swing Line Loan is repaid or prepaid, whether due to Section 2.07(c)(ii), acceleration or otherwise, and on the Facility Termination Date applicable to such Swing Line Loan. Interest accrued on each Eurocurrency Loan shall be
payable on the last day of its applicable Interest Period and on any date on which such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and on the Facility Termination Date applicable to such Eurocurrency Loan. Interest accrued
on each Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued pursuant to Section 2.11 shall be payable on
demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Alternate Base Rate), Commitment Fees and other fees hereunder, such interest or fees shall be calculated for actual days
elapsed on the basis of a 360-day year and (b) interest on Loans which are Alternate Base Rate Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual
days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 2:00 p.m. (New York
time), in the case of a Loan denominated in Dollars or (y) the Applicable Time, in the case of a Loan denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on a Loan, any fees or
any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such
extension of time shall be included in computing interest, fees and commissions in connection with such payment. 

Section 2.15 Notification of Loans, Interest Rates, Prepayments and Commitment Reductions; Availability of
Loans. Promptly after receipt thereof, the Administrative Agent will notify each Lender of the applicable Tranche of the contents of each Commitment reduction notice, Revolving Loan Borrowing Notice, Swing Line Loan Borrowing Notice,
Conversion/Continuation Notice, notice of a reduction of the Swing Line Sublimit and prepayment notice with respect to such Tranche received by it hereunder. The Administrative Agent will notify each Lender of the applicable Tranche of the interest
rate applicable to each Loan promptly upon determination of such interest rate and will give each such Lender and each Borrower prompt notice of each change in the Alternate Base Rate. Not later than 1:00 p.m. (New York time), in the case of any
Revolving Loan denominated in Dollars, and not later than the Applicable Time, in the case of any Revolving Loan denominated in a Foreign Currency, in 

  
 44 

 
each case, on each Borrowing Date, each Lender under the applicable Tranche shall make available its Revolving Loan or Revolving Loans under the applicable Tranche in funds immediately available
to the Administrative Agent’s Office for the applicable currency. The Administrative Agent will make the funds so received from the Lenders available to the applicable Borrower at the Administrative Agent’s aforesaid address. 

Section 2.16 Lending Installations. Each Lender may book its Revolving Loans at any Lending
Installation selected by such Lender and may change its Lending Installation from time to time. All terms of this Agreement shall apply to any such Lending Installation and the Revolving Loans and any Notes issued hereunder shall be deemed held by
each Lender for the benefit of any such Lending Installation. Each Lender may, by written notice to the Administrative Agent and WBA in accordance with Article XIII, designate replacement or additional Lending Installations through which Revolving
Loans will be made by it and for whose account Revolving Loan payments are to be made. 
 Section 2.17 Payments
Generally; Administrative Agent’s Clawback. (a) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing of Eurocurrency Loans (or, in the case of any Alternate Base Rate Loans, prior to 12:00 noon (New York time) on the date of the proposed Borrowing of such Revolving Loans) that such Lender will not make available to
the Administrative Agent such Lender’s share of such Revolving Loan, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with Section 2.15 and may, in reliance upon such assumption,
make available to the applicable Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Revolving Loan available to the Administrative Agent, then the applicable Lender and the applicable
Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in Same Day Funds with interest thereon, for each day from and including the date such amount is made available to the applicable Borrower to
but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the Overnight Rate and (B) in the case of a payment to be made by the applicable Borrower, the interest rate
applicable to Alternate Base Rate Loans. If the applicable Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the applicable Borrower
the amount of such interest paid by the applicable Borrower for such period. If such Lender pays its share of the applicable Revolving Loan to the Administrative Agent, then the amount so paid shall constitute such Lender’s Revolving Loan
included in such Revolving Loan. Any payment by the applicable Borrower shall be without prejudice to any claim the applicable Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(ii) Payments by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received
notice from the applicable Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the applicable Borrower will not make such payment, the

  
 45 

 
Administrative Agent may assume that the applicable Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the
amount due. In such event, if the applicable Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender in Same Day Funds
with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the Overnight Rate. 

A notice of the Administrative Agent to any Lender or the applicable Borrower with respect to any amount owing under this subsection (a) shall be
conclusive, absent manifest error. 
 (b) Obligations of Lenders Several. The obligations of the Lenders hereunder to make Revolving
Loans of each applicable Tranche, to fund participations in Swing Line Loans and to make payments pursuant to Section 9.06(c) are several and not joint. The failure of any Lender to make any Revolving Loan of the applicable Tranche, to fund any
such participation or to make any payment under Section 9.06(c) on any date required hereunder shall not relieve any other Lender of the applicable Tranche of its corresponding obligation to do so on such date, and no Lender shall be
responsible for the failure of any other Lender to so make its Revolving Loan, to purchase its participation or to make its payment under Section 9.06(c). 

Section 2.18 Replacement of Lender. If any Lender requests compensation under Section 3.01
or 3.02, or if any Lender gives notice to the Borrowers pursuant to Section 3.03, or if any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 3.05, or if any Lender is a Defaulting Lender, or if a Lender fails to consent to an amendment or waiver approved by the Required Lenders as to any matter for which such Lender’s consent is needed, or if any Lender is a Declining
Lender under Section 2.03, or if any Lender is a Protesting Lender under Section 2.21(b), then WBA may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate,
without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 12.01), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that
shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that: 
 (a) WBA
shall have paid to the Administrative Agent the assignment fee specified in Section 12.01(b)(iv); 
 (b) such Lender shall have received
payment of an amount equal to the outstanding principal of its Loans (including any amounts with respect to participations in Swing Line Loans), accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other
Loan Documents (including any amounts under Section 3.04) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or WBA (in the case of all other amounts); 

  
 46 

 (c) in the case of any such assignment resulting from a claim for compensation under
Section 3.01 or payments required to be made pursuant to Section 3.05, such assignment will result in a reduction in such compensation or payments thereafter; 

(d) such assignment does not conflict with applicable laws 

(e) in the case of any such assignment resulting from a failure to consent to an amendment or waiver approved by the Required Lenders, such
assignee shall have consented to the relevant amendment or waiver; 
 (f) in the case of any such assignment by a Declining Lender, such
assignee shall have consented to the applicable Maturity Date Extension and shall, for all purposes, constitute a Consenting Lender; and 

(g) in the case of any such assignment by a Protesting Lender, such assignee shall have consented to making Revolving Loans to the applicable
Designated Foreign Borrower. 
 A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a
waiver by such Lender or otherwise, the circumstances entitling WBA to require such assignment and delegation cease to apply. 

Section 2.19 Sharing of Payments by Lenders. Except as otherwise specified in this Agreement,
if any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Revolving Loans of any Tranche made by it or the participations in Swing Line Loans held by
it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such Revolving Loans of such Tranche or participations and accrued interest thereon greater than its Pro Rata Share of the applicable Revolving Facility
to which it is entitled pursuant hereto, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Revolving Loans of the
applicable Tranche and subparticipations in Swing Line Loans of the other Lenders of the applicable Tranche or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders of the
applicable Tranche ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans and other amounts owing them, provided that: 

(i) if any such participations or subparticipations are purchased and all or any portion of the payment giving rise thereto is
recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(ii) the provisions of this Section shall not be construed to apply to (x) any payment made by any Borrower 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) or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Revolving Loans or subparticipations in Swing Line Loans to any assignee or participant, other than to WBA or any Subsidiary thereof (as to which the provisions of this Section shall apply). 

  
 47 

 Each Borrower for itself and solely with respect to its Obligations consents to the foregoing and agrees, to
the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against such Borrower rights of setoff and counterclaim with respect to such participation as
fully as if such Lender were a direct creditor of such Borrower in the amount of such participation. 

Section 2.20 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 8.02 and the definition of Required Lender and Required Tranche Lender. 

(ii) Reallocation of Payments. Any payment of principal, interest, fees or other amounts received by the
Administrative Agent for the account of that Defaulting Lender under this Agreement or the other Loan Documents (whether voluntary or mandatory, at maturity, pursuant to Section 8.01 or otherwise, and including any amounts made available to the
Administrative Agent by that Defaulting Lender pursuant to Section 11.01), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that Defaulting
Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to the Swing Line Lender hereunder; third, if so determined by the Administrative Agent or the
Swing Line Lender, to be held as Cash Collateral deemed provided by such Defaulting Lender for future funding obligations of that Defaulting Lender with respect to any existing or future participating interest in any Swing Line Loan, with a
corresponding reversal of any reallocations made among the 18-Month Tranche Lenders with respect to Swing Line Loans pursuant to 2.20(a)(iv); fourth, as WBA may request (so long as no Default or
Unmatured Default exists), to the funding of any Loan or participation in respect of which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so
determined by the Administrative Agent and WBA, to be held in a non-interest bearing deposit account (other than any interest earned on the investment of such deposits, which investments shall be made at the
option and sole discretion of the Administrative Agent (provided that such cash collateral shall be invested solely in investments that provide for preservation of capital)) and released in order to satisfy obligations of that Defaulting Lender to
fund Revolving Loans or participations under this Agreement and/or to be held as Cash 

  
 48 

 
Collateral for future obligations of that Defaulting Lender of any participation in any Swing Line Loan; sixth, to the payment of any amounts owing to the Lenders or Swing Line Lender as a
result of any judgment of a court of competent jurisdiction obtained by any Lender or the Swing Line Lender against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh,
so long as no Default or Unmatured Default exists, to the payment of any amounts owing to the applicable Borrower as a result of any judgment of a court of competent jurisdiction obtained by such Borrower 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 funded participations in Swing Line Loans in respect of which that Defaulting Lender has not fully funded its appropriate share and (y) such Loans (or Swingline Loans) were made at a time when the
conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied first to pay the Loans of, and Swing Line Borrowings or funded participations in Swing Line Loans owed to all
non-Defaulting Lenders on a pro rata basis prior to being applied to amounts owing to any Defaulting Lender until such time as all Loans and funded and unfunded participations in Swingline Loans are held by
the Lenders pro rata in accordance with their respective 18-Month Tranche Commitments. 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 2.20(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto. 

(iii) Certain Fees. The Defaulting Lender shall not be entitled to receive any Commitment Fee pursuant to
Section 2.05(a) for any period during which that Lender is a Defaulting Lender. 
 (iv) Reallocation of Applicable
Percentages. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender under the
18-Month Revolving Facility to fund participations in Swing Line Loans pursuant to Section 2.02(c), the 18-Month Tranche Pro Rata Share of each non-Defaulting Lender under the 18-Month Revolving Facility shall be computed without giving effect to the 18-Month Tranche Commitment
of that Defaulting Lender; provided, that, (A) each such reallocation shall be given effect only if, at the date the applicable 18-Month Tranche Lender becomes a Defaulting Lender, the Defaulting
Lender has not provided sufficient Cash Collateral (as determined by the Administrative Agent) and no Default or Unmatured Default exists; and (B) the aggregate obligation of each non-Defaulting Lender
under the 18-Month Revolving Facility to fund participations in Swing Line Loans shall not exceed the positive difference, if any, of (1) the 18-Month Tranche
Commitment of that non-Defaulting Lender minus (2) the Dollar Equivalent of such 18-Month Tranche Lender’s (x)
18-Month Tranche Loans outstanding at such time and (y) 18-Month Tranche Pro Rata Share of the outstanding Swing Line Loans at such time. 

  
 49 

 (b) Defaulting Lender Cure. If the applicable Borrower, the Administrative Agent and,
with respect to the 18-Month Revolving Facility, the Swing Line Lender, agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the
Administrative Agent 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 Revolving Loans and participations in respect of Swing Line Loans (as applicable) of the other Lenders or take such other actions as the Administrative Agent may determine to be
necessary to cause the Revolving Loans and Swing Line Loan participations (as applicable) to be held on a pro rata basis by the Lenders in accordance with their Pro Rata Shares of the applicable Revolving Facility (without giving effect to
Section 2.20(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 applicable Borrower 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 Lender will constitute a waiver or release of any claim of any
party hereunder arising from that Lender’s having been a Defaulting Lender. 
 Section 2.21 Designated
Borrowers. (a) WBA may at any time, and from time to time after the Effective Date designate, by written notice to the Administrative Agent, any of its Wholly-Owned Subsidiaries as a “Designated Borrower” for purposes of
this Agreement and such Wholly-Owned Subsidiary shall thereupon become a “Designated Borrower” for purposes of this Agreement and, as such, shall have all of the rights and obligations of a Borrower hereunder. The Administrative Agent
shall promptly notify each Lender of each such designation by WBA and the identity of the respective Wholly-Owned Subsidiary. 
 (b)
Notwithstanding the foregoing, with respect to any Designated Borrower not organized under the laws of the United States or any State thereof (a “Designated Foreign Borrower”), no Lender shall be required to make Loans to such
Designated Borrower in the event that the making of such Loans would reasonably be expected to breach or violate any internal policy (other than with respect to Designated Borrowers formed under the laws of any nation that is a member of the
Organization for Economic Cooperation and Development as of the date hereof), law or regulation to which such Lender is, or would be upon the making of such Loan, subject (any such Lender, a “Protesting Lender”); provided
that (i) any Lender which is relying solely on such internal policies as the basis for not making Loans may do so only if such internal policies are being applied by such Lender or to all similarly situated borrowers seeking loans other
extensions of credit from or with respect to doing business in such jurisdiction; and (ii) each Lender shall use reasonable efforts to designate (or identify) a different lending office for funding or booking its Loans to such Designated
Borrower or to assign (or identify for purposes of assignment of) its rights and obligations hereunder to make its Loans to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment would
permit it to make Loans to such Designated Borrower and would not otherwise be disadvantageous to such Lender (and WBA and the relevant Designated Borrower shall agree to pay all reasonable out-of-pocket costs and expenses incurred by such Lender in connection with any such designation or assignment). 

  
 50 

 (c) As soon as practicable (but in any event not more than five Business Days) after receipt
of notice from WBA or the Administrative Agent of WBA’s intent to designate a Designated Foreign Borrower, any Protesting Lender shall notify WBA and the Administrative Agent in writing of its inability to lend to such Designated Foreign
Borrower. With respect to each Protesting Lender, WBA shall, effective on or before the date that such Designated Foreign Borrower shall have the right to borrow under the Revolving Facility, either (A) replace such Protesting Lender with
Lenders willing (in their sole discretion) to increase their existing Commitments, or other financial institutions willing (in their sole discretion) to become Lenders and extend new commitments, on terms consistent with Section 2.18, or
(B) cancel its request to designate such Designated Foreign Borrower as a “Designated Borrower”. 
 (d) Upon the payment and
performance in full of all of the indebtedness, liabilities and obligations under this Agreement of any Designated Borrower (other than any contingent indemnification obligations for which no claim has been made), such Designated Borrower’s
status as a “Designated Borrower” shall terminate automatically upon written notice by WBA to the Administrative Agent (which notice the Administrative Agent shall give promptly to each Lender, upon and only upon its receipt of a request
therefor from WBA). Thereafter, the Lenders shall be under no further obligation to make any Loans to such former Designated Borrower until such time, if ever, as it has been re-designated a Designated
Borrower by WBA. 
 ARTICLE III 

YIELD PROTECTION; TAXES 

Section 3.01 Yield Protection. If, after the date of this Agreement, any Change in Law: 

(a) imposes, modifies or deems applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against
assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Eurocurrency Rate); 

(b) subjects any Lender to any Tax of any kind whatsoever (except for (i) Indemnified Taxes or Other Taxes covered by Section 3.05
and (ii) Excluded Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or 

(c) imposes on any Lender or the London interbank market any other condition, cost or expense affecting this Agreement or Loans made by such
Lender; 

  
 51 

 and the result of any of the foregoing shall be to increase the cost to such Lender of making, continuing,
converting to or maintaining any Eurocurrency Loans or of maintaining its obligation to make any such Eurocurrency Loan, or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or any other
amount) then, upon request of such Lender, WBA shall pay, or shall cause any Designated Borrower to pay, to such Lender such additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered.
Notwithstanding the foregoing, no Lender shall be entitled to seek compensation under this Section 3.01 based on the occurrence of a Change in Law arising solely from (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and
all requests, rules, guidelines or directives promulgated thereunder or issued in connection therewith or (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 regulatory authorities, in each case pursuant to Basel III, unless such Lender is generally seeking compensation from other borrowers that are similarly situated to and of
similar creditworthiness with respect to its similarly affected commitments, loans and/or participations under agreements with such borrowers having provisions similar to this Section 3.01. 

Section 3.02 Changes in Capital Adequacy Regulations; Certificates for Reimbursement; Delay in
Requests. (a) Changes in Capital Adequacy. If any Lender determines that any Change in Law after the date of this Agreement affecting such Lender or any Lending Installation of such Lender or such Lender’s holding
company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Loans made by such Lender, to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s
policies and the policies of such Lender’s holding company with respect to capital adequacy), then from time to time WBA will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding
company for any such reduction suffered. Notwithstanding the foregoing, no Lender shall be entitled to seek compensation under this Section 3.02 based on the occurrence of a Change in Law arising solely from (x) the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines or directives promulgated thereunder or issued in connection therewith or (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 regulatory authorities, in each case pursuant to Basel III, unless such Lender is generally seeking compensation from other
borrowers that are similarly situated to and of similar creditworthiness with respect to its similarly affected commitments, loans and/or participations under agreements with such borrowers having provisions similar to this Section 3.02. 

(b) Certificates for Reimbursement. A certificate of a Lender setting forth the amount or amounts necessary to compensate such
Lender or its holding company, as the case may be, as specified in Section 3.01 or subsection (a) of this Section and delivered to WBA shall be conclusive absent manifest error. WBA shall pay, or shall cause the applicable Borrower to pay,
to such Lender the amount shown as due on any such certificate within fifteen (15) days after receipt thereof. 

  
 52 

 (c) Delay in Requests. Failure or delay on the part of any Lender to demand
compensation pursuant to the foregoing provisions of this Section or Section 3.01 shall not constitute a waiver of such Lender’s right to demand such compensation, provided that WBA shall not be required to compensate a Lender
pursuant to the foregoing provisions of this Section or Section 3.01 for any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender notifies WBA of the Change in Law giving rise to such
increased costs or reductions and of such Lender’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall
be extended to include the period of retroactive effect thereof). 
 (d) Additional Reserve Requirements. WBA shall pay (or cause the
applicable Borrower to pay) to each Lender, as long as such Lender shall be required to comply with any reserve ratio requirement 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 Eurocurrency Loans denominated in a Foreign Currency, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual
costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided
WBA shall have received at least 30 days’ prior notice (with a copy to the Administrative Agent) of such additional costs from such Lender. Such Lender shall deliver a certificate to WBA setting forth in reasonable detail a calculation of such
actual costs incurred by such Lender and shall certify that it is generally charging such costs to similarly situated customers of similar creditworthiness of the applicable Lender under agreements having provisions similar to this
Section 3.02(d) after consideration of such factors as such Lender then reasonably determines to be relevant (which determination shall be made in good faith). If a Lender fails to give notice 30 days prior to the relevant Payment Date, such
additional costs shall be due and payable 30 days from receipt of such notice. For the avoidance of doubt, any amounts paid under this Section 3.02(d) shall be without duplication of eurocurrency adjustments in the definition of
“Eurocurrency Rate”. 
 Section 3.03 Illegality. If any Lender determines that any
law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Installation to make, maintain or fund Eurocurrency Loans, or to determine or charge interest rates based upon
the Eurocurrency Base Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars or any Foreign Currency in the London interbank market, then, on notice
thereof by such Lender to WBA through the Administrative Agent, any obligation of such Lender to make or continue Eurocurrency Loans or to convert Alternate Base Rate Loans to Eurocurrency Loans shall be suspended until such Lender notifies the
Administrative Agent and WBA that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, each applicable Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if
applicable and such Loans are denominated in Dollars, convert all Eurocurrency Loans of such Lender to Alternate Base Rate Loans, either on the last 

  
 53 

 
day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurocurrency Loans to such day, or immediately, if such Lender may not lawfully continue to maintain
such Eurocurrency Loans. Upon any such prepayment or conversion, the applicable Borrower shall also pay accrued interest on the amount so prepaid or converted. 

Section 3.04 Compensation for Losses. Upon demand of any Lender (with a copy to the
Administrative Agent) from time to time, WBA shall, or shall cause the applicable Borrower to, promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(a) any continuation, conversion, payment or prepayment of any Eurocurrency Loan on a day other than the last day of the Interest Period for
such Loan or other than upon at least two (2) Business Days’, in the case of any Eurocurrency Loans denominated in Dollars, and at least four (4) Business Days’, in the case of any Eurocurrency Loans denominated in a Foreign
Currency, prior notice to the Administrative Agent (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise, but excluding any prepayment or conversion required pursuant to Section 3.03); 

(b) any failure by the applicable Borrower (for a reason other than the failure of such Lender to make a Eurocurrency Loan) to prepay, borrow,
continue or convert any Eurocurrency Loan on the date or in the amount or currency notified by such Borrower; or 
 (c) any assignment of a
Eurocurrency Loan on a day other than the last day of the Interest Period therefor as a result of a request by WBA pursuant to Section 2.18; 

including any foreign exchange losses and loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Eurocurrency
Loan or from fees payable to terminate the deposits from which such funds were obtained or from the performance of any foreign exchange contract. WBA shall also pay any customary administrative fees charged by such Lender in connection with the
foregoing. 
 For purposes of calculating amounts payable by WBA to the Lenders under this Section 3.04, each Lender shall be deemed to
have funded each Eurocurrency Loan made by it at the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for such currency and for a comparable amount and for a comparable period,
whether or not such Eurocurrency Loan was in fact so funded. 
 Section 3.05 Taxes.
(a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. (i) Any and all payments by or on account of any obligation of the applicable Borrower hereunder or under any other Loan Document
shall to the extent permitted by applicable laws be made free and clear of and without reduction or withholding for any Taxes. If, however, applicable laws require the applicable Borrower or the Administrative Agent (as determined in the good faith
discretion of the Administrative Agent) to withhold or deduct any Tax, such Tax shall be withheld or deducted in accordance with such laws as determined by such Borrower or the Administrative Agent, as the case may be, upon the basis of the
information and documentation to be delivered pursuant to subsection (e) below. 

  
 54 

 (ii) If the applicable Borrower or the Administrative Agent shall be
required by applicable law to withhold or deduct any Taxes from any payment, then (A) such Borrower or the Administrative Agent, as applicable, shall withhold or make such deductions as are determined by such Borrower or the Administrative
Agent, as applicable, to be required based upon the information and documentation it, or the applicable taxing authority, has received pursuant to subsection (e) below (for the avoidance of doubt, in the case of any such information and
documentation received by an applicable taxing authority, solely to the extent such Borrower or the Administrative Agent has been provided with a copy of such information and documentation or otherwise has actual knowledge of such information and
documentation and, in each case, is entitled to rely thereon), (B) such Borrower or the Administrative Agent, as applicable, shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with applicable
law, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes or Other Taxes, the sum payable by such Borrower shall be increased as necessary so that after any required withholding or the making of all
required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent or any Lender receives an amount equal to the sum it would have received had no such withholding or deduction been made.

 (b) Payment of Other Taxes. Without limiting the provisions of subsection (a) above, WBA shall timely pay, or shall cause the
applicable Borrower to pay, any Other Taxes to the relevant Governmental Authority in accordance with applicable laws. 
 (c)
Indemnification. (i) Without limiting the provisions of subsection (a) or (b) above, WBA shall, or shall cause the applicable Borrower to, indemnify the Administrative Agent and each Lender, and shall make payment in respect thereof
within thirty (30) days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section)
withheld or deducted by the applicable Borrower or the Administrative Agent or paid by the Administrative Agent or such Lender, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other
Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. WBA shall also, or shall cause the applicable Borrower to, indemnify the Administrative Agent and shall make payment in respect thereof within thirty
(30) days after demand therefor, for any amount which a Lender for any reason fails to pay indefeasibly to the Administrative Agent as required by clause (ii)(x)(1) of this subsection. A certificate as to the amount of any such payment or
liability delivered to WBA by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

  
 55 

 (ii) Without limiting the provisions of subsection (a) or (b) above,
each Lender shall, and does hereby, indemnify (x) WBA, each applicable Borrower and the Administrative Agent, and shall make payment in respect thereof within thirty (30) days after demand therefor, against any and all Taxes and any and
all related losses, claims, liabilities, penalties, interest and expenses (including the fees, charges and disbursements of any counsel for WBA, each applicable Borrower or the Administrative Agent) incurred by or asserted against WBA, such
applicable Borrower or the Administrative Agent by any Governmental Authority as a result of (1) the failure by such Lender to deliver, or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by
such Lender to WBA, each applicable Borrower or the Administrative Agent pursuant to subsection (e) or (2) the failure of such Lender to comply with the provisions of Section 12.01(d) relating to the maintenance of a Participant Register
and (y) the Administrative Agent against any Indemnified Taxes or Other Taxes attributable to such Lender (but only to the extent WBA or the applicable Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes or
Other Taxes and without limiting the obligation of WBA to do so or cause the applicable Borrower to do so) or Excluded Taxes attributable to such Lender, and any reasonable expenses arising therefrom or with respect thereto, whether or not such
Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. Each Lender hereby authorizes the 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 to the Administrative Agent under this clause (ii). The agreements in this clause (ii) shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the
replacement of, a Lender, the termination of this Agreement or the Aggregate Commitment and the repayment, satisfaction or discharge of all other Obligations. 

(d) Evidence of Payments. Upon request by WBA or the Administrative Agent, as the case may be, after any payment of Taxes by WBA, any
Borrower or the Administrative Agent to a Governmental Authority as provided in this Section 3.05, WBA or the applicable Borrower shall deliver to the Administrative Agent or the Administrative Agent shall deliver to WBA and the applicable
Borrower, as the case may be, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by law to report such payment or other evidence of such payment reasonably
satisfactory to WBA, the applicable Borrower or the Administrative Agent, as the case may be. 
 (e) Status of Lenders; Tax
Documentation. (i) Each Lender shall deliver to WBA, the applicable Borrower and the Administrative Agent, at the time or times prescribed by applicable laws or when reasonably requested by WBA, the applicable Borrower or the Administrative
Agent, such properly completed and executed documentation prescribed by applicable laws or by the taxing authorities of any jurisdiction and such other reasonably requested information (A) to secure any applicable exemption from, or reduction
in the rate of, deduction or withholding imposed by any jurisdiction in respect of any payments to be made by WBA or the applicable Borrower to such Lender, and (B) as will permit WBA, the applicable Borrower or the

  
 56 

 
Administrative Agent, as the case may be, to determine (1) whether or not payments made hereunder, the Fee Letter or under any other Loan Document are subject to Taxes, (2) if
applicable, the required rate of withholding or deduction, and (3) such Lender’s entitlement to any available exemption from, or reduction of, applicable Taxes in respect of all payments to be made to such Lender by WBA or the applicable
Borrower pursuant to this Agreement or otherwise to establish such Lender’s status for withholding tax purposes in the applicable jurisdiction. 

(ii) Without limiting the generality of the foregoing, if the applicable Borrower (or, if the applicable Borrower is
disregarded as an entity separate from its owner for U.S. federal income tax purposes, the Person treated as its owner for U.S. federal income tax purposes) is a “United States person” within the meaning of Section 7701(a)(30) of the
Code, 
 (A) any Lender (or, if such Lender is disregarded as an entity separate from its owner for U.S. federal income tax
purposes, the Person treated as its owner for U.S. federal income tax purposes) that is a “United States person” within the meaning of Section 7701(a)(30) of the Code shall deliver to WBA, the applicable Borrower and the
Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the request of WBA, the applicable Borrower or the Administrative Agent) executed originals of Internal
Revenue Service Form W-9 or such other documentation or information prescribed by applicable laws or reasonably requested by WBA, the applicable Borrower or the Administrative Agent as will enable WBA, the
applicable Borrower or the Administrative Agent, as the case may be, to determine whether or not such Lender is subject to backup withholding or information reporting requirements; 

(B) each Foreign Lender (or, if such Foreign Lender is disregarded as an entity separate from its owner for U.S. federal income
tax purposes, the Person treated as its owner for U.S. federal income tax purposes) that is entitled under the Code or any applicable treaty to an exemption from or reduction of withholding tax with respect to payments hereunder or under any other
Loan Document shall deliver to WBA, the applicable Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the request of WBA, the applicable Borrower or the Administrative Agent, but only if such Foreign Lender (or, if such Foreign Lender is disregarded as an entity separate from its owner for U.S. federal income
tax purposes, the Person treated as its owner for U.S. federal income tax purposes) is legally entitled to do so), whichever of the following is applicable: 

  
 57 

 (1) executed originals of Internal Revenue Service Form W-8BEN or W-BEN-E, as applicable, claiming eligibility for benefits of an income tax treaty to which the United States is a party, 

(2) executed originals of Internal Revenue Service Form W-8ECI, 

(3) executed originals of Internal Revenue Service Form W-8IMY and all required
supporting documentation, 
 (4) in the case of a Foreign Lender (or, if such Foreign Lender is disregarded as an entity
separate from its owner for U.S. federal income tax purposes, the Person treated as its owner for U.S. federal income tax purposes) claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code, (x) a
certificate to the effect that such Foreign Lender (or such other Person) is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the applicable Borrower within
the meaning of section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) executed originals of Internal Revenue Service Form
W-8BEN or W-8BEN-E, as applicable, or 

(5) executed originals of any other form prescribed by applicable laws as a basis for claiming exemption from or a reduction
in U.S. federal withholding tax together with such supplementary documentation as may be prescribed by applicable laws to permit WBA, the applicable Borrower or the Administrative Agent to determine the withholding or deduction required to be made.

 (C) each Lender shall deliver to the Administrative Agent, WBA and the applicable Borrower such documentation reasonably
requested by the Administrative Agent, WBA or the applicable Borrower sufficient for the Administrative Agent, WBA and the applicable Borrower to comply with their obligations under FATCA and to determine whether payments to such Lender are subject
to withholding tax under FATCA. Solely for purposes of this sub-clause (C), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

(iii) Each Lender shall promptly notify WBA, the applicable Borrower and the Administrative Agent of any change in
circumstances which would modify or render invalid any claimed exemption or reduction. 
 (f) Treatment of Certain Refunds. Unless
required by applicable laws, at no time shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a Lender, or have any obligation to pay to any Lender, any refund of Taxes withheld or deducted

  
 58 

 
from funds paid for the account of such Lender. If the Administrative Agent or any Lender determines, in its sole discretion, exercised in good faith, that it has received a refund of any Taxes
or Other Taxes as to which it has been indemnified by any Borrower or with respect to which any Borrower has paid additional amounts pursuant to this Section, it shall pay to such Borrower an amount equal to such refund (but only to the extent of
indemnity payments made, or additional amounts paid, by such Borrower under this Section with respect to the Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses incurred by the Administrative Agent or such Lender and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund), provided that each Borrower, upon the request of the Administrative Agent or such Lender, as the case may be, agrees to repay the amount paid over to such Borrower (plus any penalties, interest (to the extent accrued
from the date such refund is paid over to such Borrower) or other charges imposed by the relevant Governmental Authority), to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such
refund to such Governmental Authority. This subsection shall not be construed to require the Administrative Agent or any Lender to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to any
Borrower or any other Person. 
 Section 3.06 Mitigation Obligations. If any Lender requests compensation
under Section 3.01 or Section 3.02, or any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.05, or if any Lender gives a notice pursuant
to Section 3.03, then such Lender shall use reasonable efforts to designate a different Lending Installation 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 judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01, 3.02 or 3.05, as the case may be, in the future, or eliminate the need for the notice
pursuant to Section 3.03, as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be materially disadvantageous to such Lender. WBA hereby agrees to pay all reasonable
costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 Section 3.07
Inability to Determine Rates. (a) If the Required Lenders determine that for any reason in connection with any request for a Eurocurrency Loan, Swing Line Loan or a conversion to or continuation of any Eurocurrency Loan that
(i) (x) with respect to a proposed Eurocurrency Loan, deposits (whether in Dollars or a Foreign Currency) are not being offered to banks in the London interbank eurodollar market for the applicable amount and Interest Period of such
Eurocurrency Loan or (y) with respect to a proposed Swing Line Loan, deposits are not being offered in the London interbank Eurodollar market for the applicable amount of such Swing Line Loan, (ii) adequate and reasonable means do not
exist for determining the Eurocurrency Base Rate (x) for a proposed Eurocurrency Loan for any requested Interest Period (whether denominated in Dollars or a Foreign Currency) or (y) for a proposed Swing Line Loan, or (iii) the
Eurocurrency Base Rate (x) for any requested Interest Period with respect to a proposed Eurocurrency Loan or (y) for any proposed Swing Line Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the
Administrative Agent will 

  
 59 

 
promptly so notify WBA and each Lender. Thereafter, the obligation of (x) the Lenders to make or maintain Eurocurrency Loans and (y) the Swing Line Lender to make or maintain Swing Line
Loans in the affected currency shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, any Borrower may revoke any pending request for the making of,
conversion to, or continuation of, Eurocurrency Loans or Swing Line Loans, as applicable, of the affected currency or, failing that, will be deemed to have converted such request into a request for Alternate Base Rate Loans in the amount specified
therein. 
 (b) Notwithstanding anything to the contrary in this Agreement or any other Loan Document, if the Administrative Agent
determines (which determination shall be made by notice to the Borrowers and shall be conclusive absent manifest error), or WBA or Required Lenders notify the Administrative Agent (with, in the case of the Required Lenders, a copy to Borrower) that
the Borrowers or Required Lenders (as applicable) have determined, that: 
 (i) (A) (x) deposits (whether in Dollars or
any Foreign Currency) are not being offered to banks in the London interbank eurodollar market for the applicable amount and Interest Period of any applicable Eurocurrency Loan for the applicable currency or (y) deposits are not being offered
to banks in the London interbank eurodollar market for the applicable amount of any applicable Swing Line Loan or (B) adequate and reasonable means do not exist for ascertaining LIBOR for the applicable currency for any requested Interest
Period (as applicable), including, without limitation, because the Eurocurrency Base Rate is not available or published on a current basis, and in each case such circumstances are unlikely to be temporary, or 

(ii) the administrator of the Eurocurrency Base Rate for the applicable currency or a Governmental Authority having
jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which LIBOR for the applicable currency or the Eurocurrency Base Rate for the applicable currency shall no longer be made available, or used for
determining the interest rate of loans (such specific date, the “Scheduled Unavailability Date”), or 

(iii) syndicated loans in the U.S. market denominated in the applicable currency being executed at the time, or that include
language similar to that contained in this Section 3.07, are being generally executed or amended, as applicable, to incorporate or adopt, as applicable, a new benchmark interest rate to replace LIBOR for the applicable currency, 

then, reasonably promptly after such determination by the Administrative Agent or receipt by the Administrative Agent of such notice, as
applicable, the Administrative Agent and WBA may amend this Agreement (a “LIBOR Successor Amendment”) to replace the Eurocurrency Base Rate with respect to the applicable currency with an alternate benchmark rate, giving due
consideration to any evolving or then existing convention for similar syndicated credit facilities in the U.S. market denominated in the applicable currency for such alternative 

  
 60 

 
benchmarks (any such proposed rate, a “Replacement Rate”), and any such amendment shall become effective at 5:00 p.m. (New York time) on the fifth Business Day after the
Administrative Agent shall have posted such proposed amendment to all Lenders and WBA unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders do not
accept such amendment. 
 If no Replacement Rate has been determined and the circumstances under clause (i) above exist or the
Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify WBA and each Lender. Thereafter, (x) the obligation of (i) the Lenders to make or maintain Eurocurrency Loans shall be suspended
(to the extent of the affected Eurocurrency Loans or Interest Periods) and (ii) the Swing Line Lender to make or maintain Swing Line Loans shall be suspended (to the extent of the effected Swing Line Loans), and (y) the Eurocurrency Base
Rate component shall no longer be utilized in determining the Alternate Base Rate. Upon receipt of such notice, WBA may revoke any pending request for a Borrowing of Swing Line Loans or a Borrowing of, conversion to or continuation of Eurocurrency
Loans (to the extent of the affected Swing Line Loans or Eurocurrency Loans or Interest Periods, as applicable) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Alternate Base Rate Loans (subject to
the foregoing clause (y)) in the amount specified therein. 
 Section 3.08 Survival. All of each
Borrower’s obligations under this Article III shall survive termination of this Agreement or the Aggregate Commitment, repayment of all other Obligations hereunder and resignation of the Administrative Agent. 

ARTICLE IV 
 CONDITIONS
PRECEDENT 
 Section 4.01 Initial Effectiveness. The Lenders’ Commitments shall become
effective hereunder on and as of the first date (the “Effective Date”) on which WBA has furnished to the Administrative Agent (or, in the case of Section 4.01(i), WBA shall have paid) the following: 

(a) From each party hereto either (i) a counterpart of this Agreement signed on behalf of such party or (ii) customary written
evidence reasonably satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement; 

(b) Copies of the articles of incorporation of WBA, together with all amendments thereto, and a certificate of good standing for WBA, each
certified by the appropriate governmental officer in its jurisdiction of incorporation; 
 (c) Copies, certified by the Secretary, Assistant
Corporate Secretary or General Counsel of WBA, of WBA’s by-laws and of its Board of Directors’ resolutions and of resolutions or actions of any other body authorizing the execution of the Loan
Documents to which it is a party and a certification that there have been no changes to its articles of incorporation provided pursuant to Section 4.01(b); 

  
 61 

 (d) An incumbency certificate, executed by the Secretary, Assistant Secretary or General
Counsel of WBA, which shall identify by name and title and bear the signatures of the Authorized Officers and any other officers or employees of WBA authorized to sign the Loan Documents to which WBA is a party and to request Loans hereunder, upon
which certificate the Administrative Agent and the Lenders shall be entitled to rely until informed of any change in writing by WBA; 
 (e)
An officer’s certificate, substantially in the form of Exhibit F, dated as of the Effective Date, signed by an Authorized Officer of WBA, certifying that (x) on the Effective Date, no Default or Unmatured Default has occurred and is
continuing and (y) the representations and warranties contained in Article V are true and correct in all material respects (except to the extent such representations and warranties are qualified by “materiality” or “Material
Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) as of the Effective Date, except to the extent any such representation or warranty is stated to relate solely to an
earlier date, in which case such representation or warranty shall have been true and correct in all material respects (except to the extent such representations and warranties are qualified with “materiality” or “Material Adverse
Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) on and as of such earlier date; 

(f) A written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of Davis Polk & Wardwell
LLP as to matters of New York law, U.S. Federal law and certain aspects of Delaware law in form and substance reasonably acceptable to the Administrative Agent; 

(g) [reserved]; 
 (h) Evidence
reasonably satisfactory to the Administrative Agent: 
 (i) with respect to each existing credit agreement of WBA identified
in Schedule 4.01(h), that the conditions set forth in Schedule 4.01(h) under the heading “Effective Date Commitment Termination Condition” have been, or shall simultaneously on the Effective Date be, satisfied; and 

(ii) if all the Commitments (as defined in the Existing Wells Fargo Credit Agreement) have not been, or shall not
simultaneously on the Effective Date be, terminated, that the Maturity Date (as defined in the Existing Wells Fargo Credit Agreement) shall not be after the Initial Maturity Date (as defined in the Existing Wells Fargo Credit Agreement). 

(i) All documented fees, costs and expenses due and payable to the Arrangers or the Administrative Agent, for itself and on behalf of the
Lenders (including pursuant to the Fee Letter), or its counsel on the Effective Date and (in the case of legal fees and expenses) for which WBA has received an invoice at least three (3) Business Days prior to the Effective Date; and 

  
 62 

 (j) At least three (3) Business Days prior to the Effective Date, WBA shall have
provided the documentation and other information to the Administrative Agent that is required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including, without
limitation, the U.S. Patriot Act, to the extent such information was reasonably requested by the Arrangers or the Administrative Agent (including on behalf of any Lender) in writing at least ten (10) days prior to the Effective Date. 

Without limiting the generality of the provisions of Section 8.02, for purposes of determining compliance with the conditions specified
in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or
acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Effective Date specifying its objection thereto. 

Section 4.02 Each Borrowing Date. Each Lender’s obligations to make any Loan hereunder shall
become effective upon the satisfaction or waiver (in accordance with Section 8.02) of the following conditions on or after the Effective Date: 

(a) The Effective Date shall have occurred; 

(b) No Default or Unmatured Default has occurred and is continuing, or would result from such Borrowing; 

(c) Each of the representations and warranties contained in Article V (other than the representations and warranties contained in Sections
5.05 and 5.06 in the case of any Borrowings made after the Effective Date other than on any Borrowing made on an Extension Date or Increase Date) are, in each case, true and correct in all material respects (except to the extent such representations
and warranties are qualified by “materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) as of such Borrowing Date, except to the
extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all material respects (except to the extent such representations and
warranties are qualified by “materiality” or “Material Adverse Effect” or similar terms, in which case such representations and warranties shall be true and correct in all respects) on and as of such earlier date; 

(d) The Administrative Agent shall have received a Revolving Loan Borrowing Notice in accordance with Section 2.08 or, if applicable, the
Administrative Agent and the Swing Line Lender shall have received a Swing Line Loan Borrowing Notice in accordance with Section 2.08(b). 

Each Revolving Loan Borrowing Notice or Swing Line Loan Borrowing Notice, as applicable, shall constitute a representation and warranty by the
applicable Borrower as to the matters specified in paragraphs (b) and (c) of this Section. 

  
 63 

 Section 4.03 Initial Loans to Each Designated Borrower.
Each Lender’s obligations to make any initial Loan to any Designated Borrower following any designation of such Designated Borrower as a Borrower hereunder pursuant to Section 2.21 hereunder shall become effective upon the satisfaction
or waiver (in accordance with Section 8.02) of the following conditions on or after the Effective Date: 
 (a) Copies of the articles
or certificate of incorporation, certificate of partnership, articles or certificate of organization or other similar formation document, instrument or agreement, as the case may be, of such Designated Borrower, together with all amendments thereto,
and a certificate of good standing (or the equivalent thereof, if any, in any foreign jurisdiction), each certified by the appropriate governmental officer in its jurisdiction of formation; 

(b) Copies, certified by the Secretary, Assistant Secretary or General Counsel of such Designated Borrower, of such Designated Borrower’s
by-laws (or equivalent organizational document) and of its Board of Directors’ resolutions and/or resolutions or actions of any other body authorizing the execution of the Loan Documents to which it is a
party and a certification that there have been no changes to its articles of incorporation, certificate of partnership, articles or certificate of organization or other similar formation document, instrument or agreement, as the case may be,
provided pursuant to Section 4.03(a); 
 (c) An incumbency certificate, executed by the Secretary, Assistant Secretary or General
Counsel (or other comparable officer) of such Designated Borrower, which shall identify by name and title and bear the signatures of the Authorized Officers and any other officers or employees of such Designated Borrower authorized to sign the Loan
Documents to which it is a party and to request Loans hereunder, upon which certificate the Administrative Agent and the Lenders shall be entitled to rely until informed of any change in writing by such Designated Borrower; 

(d) A written opinion (addressed to the Administrative Agent and the Lenders) of Davis Polk & Wardwell LLP or other counsel to such
Designated Borrower, in form and substance reasonably acceptable to the Administrative Agent; 
 (e) [reserved]; 

(f) At least three (3) Business Days prior to the initial Loan to such Designated Borrower, such Designated Borrower shall have provided
the documentation and other information to the Administrative Agent that is required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation, the
U.S. Patriot Act, to the extent such information was reasonably requested by the Arrangers or the Administrative Agent (including on behalf of any Lender) in writing at least ten (10) days prior to the date of such Designated Borrower’s
Revolving Loan Borrowing Notice or Swing Line Loan Borrowing Notice, as applicable; 

  
 64 

 (g) To the extent such Designated Borrower qualifies as a “legal entity customer”
under the Beneficial Ownership Regulation, at least three (3) Business Days prior to the initial Borrowing to such Designated Borrower, such Designated Borrower shall deliver a Beneficial Ownership Certification; and 

(h) An executed Joinder Agreement. 

ARTICLE V 
 REPRESENTATIONS
AND WARRANTIES 
 WBA represents and warrants as follows to each Lender and the Administrative Agent as of the Effective Date and thereafter
on each date as required by Sections 2.01(b), 2.03 and 4.02 (it being agreed that the representations and warranties contained in Sections 5.05 and 5.06 shall be made only as of the Effective Date, each Extension Date and each Increase Date): 

Section 5.01 Existence and Standing. Each Borrower (a) is a corporation, partnership, limited
liability company or other entity duly and properly incorporated or organized, as the case may be, validly existing and (to the extent such concept applies to such entity) in good standing under the laws of its jurisdiction of incorporation or
organization and (b) has all requisite authority to conduct its business in each jurisdiction in which its business is conducted, except to the extent that the failure to have such authority would not reasonably be expected to have a Material
Adverse Effect. 
 Section 5.02 Authorization and Validity. Each Borrower has the power and
authority and legal right to execute and deliver the Loan Documents and to perform its obligations thereunder. The execution and delivery by each Borrower of the Loan Documents and the performance of its obligations thereunder have been duly
authorized by proper proceedings, and the Loan Documents constitute legal, valid and binding obligations of each Borrower enforceable against such Borrower in accordance with their terms, except as may be limited by bankruptcy, insolvency or similar
laws relating to or affecting creditors’ rights generally and by general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

Section 5.03 No Conflict; Government Consent. (a) Neither the execution and delivery by
each Borrower of the Loan Documents, nor the consummation of the transactions therein contemplated, nor compliance with the provisions thereof will violate (i) any law, rule, regulation, order, writ, judgment, injunction, decree or award
binding on such Borrower, (ii) such Borrower’s bylaws, articles or certificate of incorporation, partnership agreement, certificate of partnership, operating agreement or other management agreement, articles or certificate of organization
or other similar formation, organizational or governing documents, instruments and agreements, as the case may be, or (iii) the provisions of any indenture, instrument or agreement to which such Borrower is a party or is subject, or by which
it, or its Property, is bound, except in the case of clauses (i) and (iii) where such violation would not reasonably be expected to have a Material Adverse Effect. 

  
 65 

 (b) No order, consent, adjudication, approval, license, authorization, or validation of, or
filing, recording or registration with, or exemption by, or other action in respect of any governmental or public body or authority, or any subdivision thereof, which has not been obtained by any Borrower, is required to be obtained by such Borrower
in connection with the execution and delivery of the Loan Documents, the borrowings under the Loan Documents, the payment and performance by such Borrower of its Obligations or the legality, validity, binding effect or enforceability of the Loan
Documents. 
 Section 5.04 Financial Statements. The August 31, 2020 audited consolidated
financial statements of WBA and its Subsidiaries heretofore delivered to the Arrangers and the Lenders, copies of which are included in WBA’s Annual Report on Form 10-K as filed with the SEC and, if
applicable, the audited consolidated financial statements of WBA and its Subsidiaries as of the last day of the fiscal year for which WBA has most recently filed an annual report on Form 10-K, (a) were
prepared in accordance with GAAP, (b) fairly present in all material respects the consolidated financial condition and operations of WBA and its Subsidiaries at such date and the consolidated results of their operations and cash flows for the
period then ended and (c) show all material indebtedness and other liabilities, direct or contingent, of WBA and its Subsidiaries as of the date thereof that are required under Agreement Accounting Principles to be reflected thereon. 

Section 5.05 Material Adverse Effect. Except as disclosed in the Borrower SEC Reports, since
August 31, 2020, there has been no material adverse effect on the financial condition, results of operations, business or Property of WBA and its Subsidiaries taken as a whole. 

Section 5.06 Litigation. As of the Effective Date, there is no litigation, arbitration, governmental
investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or affecting WBA or any of its Subsidiaries which has not been disclosed in the Borrower SEC Reports (a) that would reasonably be
expected to have a Material Adverse Effect or (b) which seeks to prevent, enjoin or delay the making of any Loan or otherwise calls into question the validity of any Loan Document and as to which there is a reasonable possibility of an adverse
decision. 
 Section 5.07 Regulation U. No Borrower is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate of buying or carrying margin stock (within the meaning of Regulation U or Regulation X); and after applying the proceeds of the
Loans, margin stock (as defined in Regulation U) constitutes not more than twenty-five percent (25%) of the value of those assets of any Borrower which are subject to any limitation on sale or pledge, or any other restriction hereunder. 

Section 5.08 Investment Company Act. No Borrower is an “investment company”, a company
“controlled by” an “investment company” or a company required to register as an “investment company,” each as defined in the Investment Company Act of 1940, as amended. 

  
 66 

 Section 5.09 OFAC, FCPA. None of WBA, any of its
Subsidiaries, or, to the knowledge WBA, any directors or officers of WBA or any of its Subsidiaries, is the subject of Sanctions. None of WBA or its Subsidiaries is located, organized or resident in a country or territory that is the subject of
Sanctions. No part of the proceeds of the Loans shall be used by any Borrower in violation of the United States Foreign Corrupt Practices Act of 1977, as amended or Sanctions. 

Section 5.10 Disclosure. All information (other than financial projections and other forward-looking
information and information of a general economic or industry nature) (as used in this Section 5.10, the “Information”) provided by or on behalf of WBA or its representatives to the Administrative Agent or the Lenders in
written form in connection with the transactions contemplated hereby does not, when taken as a whole, and will not, when furnished and when taken as a whole, contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements contained therein, when taken as a whole, not materially misleading when taken as a whole and in light of the circumstances under which such statements were made (giving effect to any supplements then or theretofore
furnished). 
 Section 5.11 Borrowers. Each Borrower (other than WBA) is a Wholly-Owned Subsidiary
of WBA. 
 ARTICLE VI 

COVENANTS 
 From the Effective
Date, so long as any Lender shall have any Commitment hereunder, or any Loan or other Obligation hereunder (other than any contingent indemnification obligations for which no claim has been made) shall remain unpaid or unsatisfied: 

Section 6.01 Financial Reporting. WBA will maintain, for itself and each Subsidiary, a system of
accounting established and administered in accordance with GAAP, and furnish to the Administrative Agent for the Administrative Agent’s distribution to the Lenders: 

(a) As soon as available, but in any event on or prior to the earlier of (i) the 90th day after the close of each of its fiscal years and
(ii) the day that is five (5) Business Days after the date WBA’s annual report on Form 10-K is required to be filed with the SEC after giving effect to any extensions permitted by the SEC
(commencing with the first fiscal year of WBA ending after the Effective Date), a consolidated balance sheet as of the end of such period, related statements of earnings, statements of equity and cash flows prepared in accordance with GAAP on a
consolidated basis for itself and its Subsidiaries together with an audit report certified by independent certified public accountants of recognized standing whose opinion shall not be qualified as to the scope of the audit or as to the status of
WBA and its consolidated Subsidiaries as a going concern, accompanied by any management letter prepared by said accountants. 

  
 67 

 (b) As soon as available, but in any event on or prior to the earlier of (i) the 45th
day after the close of the first three quarterly periods of each of its fiscal years and (ii) the day that is five (5) Business Days after the date WBA’s quarterly report on Form 10-Q is
required to be filed with the SEC after giving effect to any extensions permitted by the SEC (commencing with the fiscal quarter ending on November 30, 2020), for itself and its Subsidiaries, a consolidated unaudited balance sheet as at the
close of each such period and consolidated unaudited statements of earnings, statements of equity and cash flows for the period from the beginning of such fiscal year to the end of such quarter, all certified by its chief financial officer, chief
accounting officer or treasurer. 
 (c) Together with the financial statements required under Sections 6.01(a) and (b), a compliance
certificate in substantially the form of Exhibit A signed by its chief financial officer, chief accounting officer or treasurer showing the calculations necessary to determine compliance with the financial covenant set forth in
Section 6.10 and stating that no Default or Unmatured Default exists, or if any Default or Unmatured Default exists, stating the nature and status thereof, it being understood and agreed that in the event WBA delivers a notice to the
Administrative Agent pursuant to the proviso to the definition of “Agreement Accounting Principles” WBA shall deliver an additional calculation of compliance with the financial covenant set forth in Section 6.10 demonstrating that
notwithstanding GAAP in effect at such time, WBA has complied with Section 6.10 under GAAP as in effect and applied immediately before such change in GAAP (in the case of such a notice under “Agreement Accounting Principles);
provided that in no event shall WBA be required to furnish the Administrative Agent with more than one version of financial statements pursuant to Section 6.01(a) or Section 6.01(b) prepared in accordance with different versions of
GAAP as a result of any such notice. 
 (d) Such other information with respect to the business, condition or operations, financial or
otherwise, and Properties of WBA and its Subsidiaries as the Administrative Agent, including at the request of any Lender, may from time to time reasonably request. 

Documents required to be delivered pursuant to Section 6.01(a) or (b) may be delivered electronically and if so delivered, shall be
deemed to have been delivered on the date (i) on which WBA posts such documents, or provides a link thereto on WBA’s website on the Internet at http://investor.walgreensbootsalliance.com or such other website with respect to which WBA may
from time to time notify the Administrative Agent and to which the Lenders have access; or (ii) on which such documents are posted on WBA’s behalf by the Administrative Agent on SyndTrak or another relevant website, if any, to which each
Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent) or filed electronically through EDGAR and available on the Internet at www.sec.gov; provided that WBA
shall notify (which may be by facsimile or electronic mail) the Administrative Agent of the posting or filing of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.
The Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by WBA with any such request for delivery. 

  
 68 

 WBA hereby acknowledges that (a) the Administrative Agent and/or the Arrangers may make
available to the Lenders materials and/or information provided by or on behalf of WBA hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on SyndTrak 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 WBA or
its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons’ securities. WBA hereby agrees that (w) all Borrower Materials that
are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower
Materials “PUBLIC,” WBA shall be deemed to have authorized the Administrative Agent, the Arrangers and the Lenders to treat the Borrower Materials as not containing any material non-public
information with respect to WBA 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 be treated as set forth
in Section 9.10); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent and the Arrangers
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 that is not designated “Public Side Information.” 

Section 6.02 Use of Proceeds. Each Borrower will, and will cause each of its Subsidiaries to, use the
proceeds of the Loans (i) to repay outstanding loans under certain existing credit facilities of WBA and (ii) for other general corporate purposes. Each Borrower shall use the proceeds of the Loans in compliance with all applicable legal
and regulatory requirements and any such use shall not result in a violation of any such requirements, including, without limitation, Regulation U and Regulation X, the Securities Act of 1933 and the Securities Exchange Act of 1934 and the
regulations promulgated thereunder. 
 Section 6.03 Notice of Default. WBA will give prompt notice
in writing to the Lenders of the occurrence of any Default or Unmatured Default after an Authorized Officer of WBA becomes aware of such Default or Unmatured Default. 

Section 6.04 Conduct of Business. WBA will, and will cause each of its Major Subsidiaries to, except
as otherwise permitted by Section 6.07, do all things necessary to remain duly incorporated or organized, validly existing and (to the extent such concept applies to such entity) in good standing as a corporation, partnership, limited liability
company or other entity in its jurisdiction of incorporation or organization, as the case may be, and maintain all requisite authority to conduct its business in each jurisdiction in which its business is conducted, except in each case (other than
valid existence of any Borrower) where the failure to do so would not reasonably be expected to have a Material Adverse Effect. 

Section 6.05 Compliance with Laws. WBA will, and will cause each of its Major Subsidiaries to, comply
in all material respects with all applicable laws, rules, regulations and orders (such compliance to include, without limitation, compliance with ERISA and Environmental Laws and paying before the same become delinquent all taxes, assessments and
governmental charges imposed upon it or upon its property except to the extent contested in good faith), except to the extent such noncompliance would not have a Material Adverse Effect. 

  
 69 

 Section 6.06 Inspection; Keeping of Books and Records.
Subject to applicable law and third party confidentiality agreements entered into by WBA or any Subsidiary in the ordinary course of business, WBA will, and will cause each Subsidiary to, permit the Administrative Agent, during the continuance of a
Default or Unmatured Default, by its representatives and agents, to inspect any of the Property, books and financial records of WBA and each Subsidiary, to examine and make copies of the books of accounts and other financial records of WBA and each
Subsidiary, and to discuss the affairs, finances and accounts of WBA and each Subsidiary with their respective officers at such reasonable times and intervals as the Administrative Agent may designate but in all events upon reasonable prior notice
to WBA’s Finance Department, Attention: Chief Accounting Officer, with a copy to Vice President, Global Treasury. WBA shall keep and maintain, and cause each of its Subsidiaries to keep and maintain, in all material respects, proper books of
record and account in which entries in conformity with GAAP shall be made of all dealings and transactions in relation to their respective businesses and activities. 

Section 6.07 Merger. (a) WBA will not merge into or consolidate with any other Person, unless
(i) the Person formed by such consolidation or into which WBA is merged shall be a Person organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and shall expressly assume pursuant
to an instrument executed and delivered to the Administrative Agent, and in form and substance reasonably satisfactory to the Administrative Agent, WBA’s obligations for the due and punctual payment of the Obligations and the performance of
every covenant of this Agreement on the part of WBA to be performed; and (ii) immediately after giving effect to such transaction, no Default or Unmatured Default shall have occurred and be continuing. For the avoidance of doubt, this
Section 6.07 shall only apply to a merger or consolidation in which WBA is not the surviving Person. 
 (b) Upon any consolidation by
WBA with or merger by WBA into any other Person, the successor Person formed by such consolidation or into which WBA is merged shall succeed to, and be substituted for, and may exercise every right and power of, WBA under this Agreement with the
same effect as if such successor Person had been named as WBA herein. 
 Section 6.08 Sale of Assets.
WBA will not lease, sell or otherwise dispose of, or permit one or more Subsidiaries to lease, sell or otherwise dispose of, all or substantially all of the Property of WBA and the Subsidiaries, taken as a whole, to any Person, unless,
immediately before and after giving effect thereto, no Default or Unmatured Default would exist. 
 Section 6.09
Liens.. No Borrower will, and WBA will not permit any Major Subsidiary to, create or suffer to exist any Lien in, of or on any of its Property, in each case to secure or provide for the payment of any Indebtedness for Borrowed Money,
except: 

  
 70 

 (a) Liens for taxes, assessments or governmental charges or levies on its Property if the
same shall not at the time be delinquent or thereafter can be paid without penalty, or are being contested in good faith and by appropriate proceedings and for which adequate reserves in accordance with the Agreement Accounting Principles shall have
been set aside on its books. 
 (b) Liens for taxes, assessments or governmental charges or levies on its Property regardless of their
delinquency or whether they can be paid without penalty provided such taxes, assessments, charges or levies do not in the aggregate at any one time exceed $10,000,000. 

(c) Liens imposed by law, such as carriers’, warehousemen’s and mechanics’ liens and other similar liens arising in the ordinary
course of business which secure payment of obligations not more than sixty (60) days past due or which are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with the Agreement Accounting
Principles shall have been set aside on its books. 
 (d) Liens arising out of pledges or deposits under worker’s compensation laws,
unemployment insurance, old age pensions, or other social security or retirement benefits, or similar legislation. 
 (e) Utility easements,
building restrictions and such other encumbrances or charges against real property as WBA reasonably deems necessary or desirable consistent with past practices. 

(f) Precautionary Liens provided by any Borrower or Major Subsidiary in connection with the sale, assignment, transfer or other disposition of
assets by any Borrower or Major Subsidiary which transaction is determined by the Board of Directors of such Borrower or Major Subsidiary to constitute a “sale” under accounting principles generally accepted in the United States. 

(g) Liens existing on the date hereof securing Indebtedness for Borrowed Money (and the replacement, extension or renewal thereof upon or in
the same property). 
 (h) Liens securing Indebtedness for Borrowed Money in an aggregate amount, immediately after giving effect to the
incurrence of such Indebtedness for Borrowed Money, not to exceed 15% of Total Tangible Assets. 
 (i) Liens on deposits, cash or cash
equivalents, if any, in favor of any issuer of one or more letters of credit issued under the Existing Syndicated 5-Year Credit Agreement to cash collateralize or otherwise secure the obligations of a
defaulting lender to fund risk participations thereunder. 
 (j) Usual and customary set off rights with respect to bank accounts and
brokerage accounts in the ordinary course of business. 

  
 71 

 (k) Usual and customary deposits in favor of lessors and similar deposits in the ordinary
course of business. 
 (l) Liens existing on property of any Person acquired by any Borrower or Major Subsidiary, other than any such Lien or
security interest created in contemplation of such acquisition (and the replacement, extension or renewal thereof upon or in the same property). 

(m) Liens securing Indebtedness for Borrowed Money of any Subsidiary in favor of WBA or any Subsidiary. 

Section 6.10 Financial Covenant. As of the last day of each fiscal quarter of WBA, commencing with the
first fiscal quarter-end date occurring after the Effective Date, the ratio of Consolidated Debt to Total Capitalization shall not be greater than 0.60:1.00; provided that upon the consummation of any
Material Acquisition and the written election of WBA to the Administrative Agent (which shall promptly notify the Lenders) no later than thirty days following the consummation of a Material Acquisition, the maximum permitted ratio of Consolidated
Debt to Total Capitalization set forth above shall increase to 0.70 to 1.00 with respect to the last day of the fiscal quarter during which such Material Acquisition shall have been consummated and the last day of each of the immediately following
three consecutive fiscal quarters; provided further that (i) WBA may only make an election pursuant to the immediately preceding proviso on two separate occasions prior to the latest Facility Termination Date in effect hereunder and
(ii) from the period beginning on the date the definitive documentation relating to any Material Acquisition is entered into (or, in the case of a Material Acquisition in the form of a tender offer or similar transaction, after the offer shall
have been launched) prior to the date such Material Acquisition is consummated (or such definitive documentation is terminated), any Acquisition Debt and the proceeds thereof shall be excluded from the calculation of the ratio of Consolidated Debt
to Total Capitalization. 
 Section 6.11 Sanctions. WBA and its Subsidiaries will not, directly or, to the
knowledge of WBA, indirectly, (a) use the proceeds of the Loans, or (b) lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other individual or entity, in each case, to fund any activities
or business (x) of or with any individual or entity named on the most current list of Specially Designated Nationals or Blocked Persons maintained by OFAC or the U.S. Department of State, or (y) in any country or territory, that, at the
time of such funding, is, or whose government is, the subject of Sanctions, except in the case of (a) or (b) to the extent licensed by OFAC or otherwise permissible under U.S. law. 

ARTICLE VII 
 DEFAULTS 

The occurrence of any one or more of the following events shall constitute a Default: 

Section 7.01 Breach of Representations or Warranties. Any representation or warranty made by WBA to
the Lenders or the Administrative Agent under this Agreement, or any certificate or information delivered in connection with this Agreement, shall be false in any material respect (or in all respects to the extent such representation and warranty is
qualified with “materiality” or “Material Adverse Effect” or similar terms) when made or deemed made . 

  
 72 

 Section 7.02 Failure to Make Payments When Due.
Nonpayment of (a) principal of any Loan when due, or (b) interest upon any Loan, any Commitment Fee or other payment Obligations under any of the Loan Documents within five (5) Business Days after such interest, fee or other
Obligation becomes due. 
 Section 7.03 Breach of Covenants. The breach by WBA of (a) any of
the terms or provisions of Section 6.03, 6.07, 6.08, 6.09 or 6.10 or (b) any of the other terms or provisions of this Agreement which is not remedied within thirty (30) days after an Authorized Officer of WBA knows of the occurrence
thereof. 
 Section 7.04 Cross Default. (a) Any Borrower or any Major Subsidiary shall fail to
pay any principal of or premium or interest on (x) any Indebtedness for Borrowed Money which is outstanding in a principal amount of at least the Requisite Amount in the aggregate (but excluding indebtedness arising hereunder) or (y) a
Capitalized Lease in respect of any single Property in an amount equal to at least $500,000,000, in each case, of such Borrower or such Major Subsidiary (as the case may be), when the same becomes due and payable (whether by scheduled maturity,
required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness for Borrowed Money or Capitalized Lease, as
applicable, unless adequate provision for any such payment has been made in form and substance satisfactory to the Required Lenders. 
 (b)
Any (x) Indebtedness for Borrowed Money of any Borrower or any Major Subsidiary which is outstanding in a principal amount of at least the Requisite Amount in the aggregate or (y) Capitalized Lease in respect of any single Property in an
amount equal to at least $500,000,000, in each case, shall be declared to be due and payable, or required to be prepaid (other than by a scheduled required prepayment), redeemed, purchased or defeased, or an offer to prepay, redeem, purchase or
defease such Indebtedness for Borrowed Money or Capitalized Lease, as applicable, shall be required to be made, in each case prior to the stated maturity thereof as a result of a breach by such Borrower or such Major Subsidiary (as the case may be)
of the agreement or instrument relating to such Indebtedness for Borrowed Money or Capitalized Lease, as applicable, and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such
Indebtedness for Borrowed Money or Capitalized Lease, as applicable, unless adequate provision for the payment of such Indebtedness for Borrowed Money or Capitalized Lease, as applicable, has been made in form and substance satisfactory to the
Required Lenders. 
 (c) WBA or any of its Major Subsidiaries shall admit in writing its inability to pay its debts generally as they become
due. 

  
 73 

 Section 7.05 Voluntary Bankruptcy; Appointment of Receiver;
Etc. WBA or any of its Major Subsidiaries shall (a) have an order for relief entered with respect to it under the Federal bankruptcy laws as now or hereafter in effect, (b) make an assignment for the benefit of creditors,
(c) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (d) institute any proceeding seeking an order
for relief under the Federal bankruptcy laws as now or hereafter in effect or seeking to adjudicate it bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts
under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (e) take any corporate or partnership
action to authorize or effect any of the foregoing actions set forth in this Section 7.05, or (f) fail to contest in good faith any appointment or proceeding described in Section 7.06. 

Section 7.06 Involuntary Bankruptcy; Appointment of Receiver; Etc. Without the application,
approval or consent of WBA or any of its Major Subsidiaries, a receiver, trustee, custodian, examiner, liquidator or similar official shall be appointed for WBA or any of its Major Subsidiaries or any Substantial Portion of its Property, or a
proceeding described in Section 7.05(d) shall be instituted against WBA or any of its Major Subsidiaries, and such appointment continues undischarged, or such proceeding continues undismissed or unstayed, in each case, for a period of sixty
(60) consecutive days. 
 Section 7.07 Judgments. WBA or any of its Major Subsidiaries shall
fail within sixty (60) days to pay, bond or otherwise discharge one or more judgments or orders for the payment of money (except to the extent covered by independent third party insurance and as to which the insurer has not disclaimed coverage)
in excess of the Requisite Amount (or the equivalent thereof in currencies other than Dollars) in the aggregate, which judgment(s), in any such case, is/are not stayed on appeal or otherwise being appropriately contested in good faith. 

Section 7.08 Unfunded Liabilities. (i) The aggregate Unfunded Liabilities of all Plans would
reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property of WBA and its Subsidiaries taken as a whole; (ii) the present value of the unfunded liabilities to provide
the accrued benefits under all Foreign Pension Plans in the aggregate would reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property of WBA and its Subsidiaries taken as a
whole; or (iii) any Reportable Event shall occur in connection with any Plan and such Reportable Event would reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property
of WBA and its Subsidiaries taken as a whole. 
 Section 7.09 [Reserved]. 

Section 7.10 Other ERISA Liabilities. WBA, any Subsidiary or any other member of the Controlled Group
shall have been notified by the sponsor of a Multiemployer Plan that it has incurred withdrawal liability or become obligated to make contributions to a Multiemployer Plan in an amount which, when aggregated with all other amounts required to be
paid to 

  
 74 

 
Multiemployer Plans by WBA, any Subsidiary or any other member of the Controlled Group as withdrawal liability or required contributions (determined as of the date of such notification), would
reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property of WBA and its Subsidiaries taken as a whole. 

Section 7.11 Invalidity of Loan Documents. Any material provision of any Loan Document, at any time
after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations (other than contingent indemnification obligations that survive the termination of this
Agreement), ceases to be in full force and effect; or WBA contests in any manner the validity or enforceability of any Loan Document; or WBA denies that it has any or further liability or obligation under any Loan Document, or purports to revoke,
terminate or rescind any Loan Document for any reason other than as expressly permitted hereunder or thereunder. 

Section 7.12 Guarantees. So long as any Wholly-Owned Subsidiary of WBA is a Designated Borrower, the
Parent Guarantee in respect of such Designated Borrower shall for any reason cease (other than in accordance with the terms hereof) to be valid and binding on WBA, or WBA shall so state in writing. 

ARTICLE VIII 
 ACCELERATION,
WAIVERS, AMENDMENTS AND REMEDIES 
 Section 8.01 Acceleration, Etc. If any Default described
in Section 7.05 or 7.06 occurs, the obligations of the Lenders to make Loans shall automatically terminate and the Obligations of each Borrower shall immediately become due and payable without any election or action on the part of the
Administrative Agent or any Lender. If any other Default occurs, the Required Lenders (or the Administrative Agent with the consent of the Required Lenders) may terminate or suspend (in whole or in part) the obligations of the Lenders to make Loans
or declare the Obligations of each Borrower to be due and payable (in whole or in part), whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which the Borrowers
hereby expressly waive. Promptly upon any acceleration of the Obligations, the Administrative Agent will provide each Borrower with notice of such acceleration. 

If, within thirty (30) days after acceleration of the maturity of the Obligations of each Borrower or termination of the obligations of
the Lenders to make Loans hereunder as a result of any Default (other than any Default as described in Section 7.05 or 7.06) and before any judgment or decree for the payment of the Obligations due shall have been obtained or entered, the
Required Lenders (in their sole discretion) shall so direct, the Administrative Agent shall, by notice to each Borrower, rescind and annul such acceleration and/or termination. 

 

  
 75 

 Section 8.02 Amendments. Subject to the
provisions of this Article VIII and except as otherwise specified in this Agreement (including pursuant to a LIBOR Successor Amendment), the Required Lenders (or the Administrative Agent with the consent in writing of the Required Lenders) and WBA
may enter into agreements supplemental hereto for the purpose of adding or modifying any provisions to the Loan Documents or changing in any manner the rights of the Lenders or the Borrowers hereunder or thereunder or waiving any Default hereunder
or thereunder; provided, however, that no such supplemental agreement shall: 
 (a) Extend the final maturity of any of the
Loans of any Lender or forgive all or any portion of the principal amount thereof payable to any Lender, or reduce the rate or extend the scheduled time of payment of interest or fees thereon (other than a waiver of the application of the default
rate of interest pursuant to Section 2.11 hereof) payable to any Lender, without the consent of each Lender affected thereby. 
 (b)
Reduce the percentage specified in the definition of Required Lenders, Required Tranche Lenders, or any other percentage of Lenders specified to be the applicable percentage in this Agreement to act on specified matters or amend Section 2.19,
the definition of “Pro Rata Share” or the definition of “18-Month Tranche Pro Rata Share”, without the consent of all Lenders affected thereby. For the sake of clarity, the addition of one
or more term loan facilities or the increase or addition of one or more revolving credit facilities or an extension of the maturity of a portion of the Revolving Facility and similar modifications shall be permitted with the consent of the Required
Lenders and the Lenders agreeing to participate in the new facility or to increase the amount of their commitment or extend the maturity of their Loans. 

(c) Extend the Maturity Date for any Tranche or the Facility Termination Date for any Tranche as it applies to any Lender (other than as
expressly permitted by the terms of Section 2.03(a)), or increase the amount or otherwise extend the term of the Commitment for any Tranche of any Lender hereunder (other than as expressly permitted by the terms of Section 2.01(b)) without
the consent of each Lender affected thereby. 
 (d) Permit any Borrower to assign its rights or obligations under this Agreement except as
provided in Section 6.07 without the consent of all Lenders. 
 (e) Amend the definition of “Foreign Currency” or
Section 2.21 without the consent of all Lenders. 
 (f) Amend this Section 8.02 without the consent of all Lenders. 

(g) Release, other than in accordance with the terms hereof, all or substantially all of the value of any guarantee of the Obligations
(including the Parent Guarantee) without the consent of all Lenders. 
 provided further, that (i) no amendment of any provision of this
Agreement relating to the Administrative Agent shall be effective without the written consent of the Administrative Agent; (ii) (A) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to
the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document and (B) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition
to the Lenders required above, affect the rights or duties of the Swing Line Lender 

  
 76 

 
under this Agreement or any other Loan Document; (iii) any provision of this Agreement or any other Loan Document may be amended by an agreement in writing entered into by WBA and the
Administrative Agent to cure any ambiguity, omission, defect or inconsistency (including, without limitation, amendments, supplements or waivers to any of documents executed by WBA or any Subsidiary in connection with this Agreement if such
amendment, supplement or waiver is delivered in order to cause such related documents to be consistent with this Agreement and the other Loan Documents) and (iv) the Administrative Agent and WBA may enter into amendments or modifications to
this Agreement or enter into additional documentation as the Administrative Agent reasonably deems appropriate in order to implement any Replacement Rate or otherwise effectuate the terms of Section 3.07(b) in accordance with the terms of
Section 3.07(b). Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, (it being specifically understood and agreed that 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 (A) the Commitment of such Lender may not be
increased or extended without the consent of such Lender nor the Maturity Date of any Loan made by such Lender extended or the amount thereof owed to such Lender reduced and (B) any waiver, amendment or modification requiring the consent
of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender. 

Section 8.03 Preservation of Rights. No delay or omission of the Lenders or the Administrative Agent
to exercise any right under the Loan Documents shall impair such right or be construed to be a waiver of any Default or an acquiescence therein, and the making of a Loan notwithstanding the existence of a Default or Unmatured Default or the
inability of the applicable Borrower to satisfy the conditions precedent to such Loan shall not constitute any waiver or acquiescence. Any single or partial exercise of any such right shall not preclude other or further exercise thereof or the
exercise of any other right, and no waiver, amendment or other variation of the terms, conditions or provisions of the Loan Documents whatsoever shall be valid unless in writing signed by, or by the Administrative Agent with the consent of, the
requisite number of Lenders required pursuant to Section 8.02, and then only to the extent in such writing specifically set forth. All remedies contained in the Loan Documents or by law afforded shall be cumulative and all shall be available to
the Administrative Agent and the Lenders until all of the Obligations have been paid in full. 
 ARTICLE IX 

GENERAL PROVISIONS 

Section 9.01 Survival of Representations. All representations and warranties made hereunder and in any
other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by
the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent, any Lender or on their behalf and notwithstanding that the Administrative 

  
 77 

 
Agent, any Lender may have had notice or knowledge of any Default at the time of any Loan, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder (other
than any contingent indemnification obligations for which no claim has been made) shall remain unpaid or unsatisfied. 

Section 9.02 Governmental Regulation. Anything contained in this Agreement to the contrary
notwithstanding, no Lender shall be obligated to extend credit to any Borrower in violation of any limitation or prohibition provided by any applicable statute or regulation. 

Section 9.03 Headings. Section headings in the Loan Documents are for convenience of reference only,
and shall not govern the interpretation of any of the provisions of the Loan Documents. 
 Section 9.04 Entire
Agreement. The Loan Documents, together with the Fee Letter, embody the entire agreement and understanding among the Borrowers, the Agents, the Arrangers and the Lenders party thereto and supersede all prior agreements and understandings
among the Borrowers, the Administrative Agent, the Arrangers and the Lenders, as applicable, relating to the subject matter thereof. 

Section 9.05 Several Obligations; Benefits of this Agreement. The respective obligations of the
Lenders hereunder are several and not joint and no Lender shall be the partner or agent of any other (except to the extent to which the Agents are authorized to act as such). The failure of any Lender to perform any of its obligations hereunder
shall not relieve any other Lender from any of its obligations hereunder. 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, Participants to the extent provided in Section 12.01(d) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by
reason of this Agreement; provided, however, that the parties hereto expressly agree that the Arrangers shall enjoy the benefits of the provisions of Sections 2.05(b), 9.06, 9.09 and 10.07 to the extent specifically set forth therein
and shall have the right to enforce such provisions on its own behalf and in its own name to the same extent as if it were a party to this Agreement. 

Section 9.06 Expenses; Indemnification. (a) Costs and Expenses. WBA shall reimburse
(i) all reasonable and documented out-of-pocket expenses incurred by, without duplication, the Administrative Agent, the Arrangers and their respective Affiliates
(including the reasonable fees, charges and disbursements of a single counsel), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement
and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated) and (ii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and the Lenders (including the reasonable fees, charges and disbursements of a single counsel (and to the extent
reasonably determined to be necessary, one local counsel and one regulatory counsel in any 

  
 78 

 
applicable jurisdiction) for the Administrative Agent, the Arrangers and the Lenders) in connection with the enforcement or protection of its rights (A) in connection with this Agreement and
the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made hereunder, including all such reasonable and documented
out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

(b) Indemnification by WBA. WBA shall, or shall cause the applicable Borrower to, indemnify the Administrative Agent (and any sub-agent thereof) and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and
all losses, claims, damages, liabilities and the reasonable and documented out-of-pocket legal and other related expenses (including the reasonable fees, charges and
disbursements of any counsel for any Indemnitee), in each case to the extent arising out of any investigation, litigation, claim or proceeding in connection with or as a result of (i) the execution or delivery of this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the transactions contemplated hereby or thereby, or, in the
case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents (including in respect of any matters addressed in
Section 3.05), (ii) any Loan or the use or proposed use of the proceeds therefrom, (iii) to the extent relating to the foregoing, any actual or alleged presence or release of Hazardous Materials on or from any property owned, leased or
operated by WBA or any of its Subsidiaries, or any Environmental Liability related in any way to WBA or any of its Subsidiaries or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing,
whether based on contract, tort or any other theory, whether brought by a third party or by any Borrower, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available
to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (x) the bad faith, gross negligence or willful
misconduct of such Indemnitee or its Related Parties, (y) a material breach of such Indemnitee’s or its Related Parties’ obligations hereunder or under any other Loan Document or (z) a dispute among two or more Indemnitees not
arising from any act or omission of any Borrower or its respective Subsidiaries hereunder (but not including any such dispute that involves a Lender to the extent such Lender is acting in a different capacity (i.e., the Administrative Agent or the
Arrangers) under any Loan Document). This Section 9.06(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. 

(c) Reimbursement by Lenders. To the extent that WBA for any reason fails to indefeasibly pay any amount required under subsection
(a) of this Section or WBA for any reason fail to indefeasibly pay or cause to be paid any amount required under subsection (b) of this Section, in each case, to be paid to the Administrative Agent (or any
sub-agent thereof) or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or such Related
Party, as the case may be, such 

  
 79 

 
Lender’s ratable 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 Administrative Agent (or any such sub-agent) in its capacity as such, or
against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection with such capacity. The obligations of the Lenders under this subsection (c) are
subject to the provisions of Section 2.17(b). 
 (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, each party hereto shall not assert, and hereby waives, any claim against any other party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising
out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof (it being agreed
that WBA’s indemnity and contribution obligations set forth in this Section 9.06 shall apply in respect of any special, indirect, consequential or punitive damages that may be awarded against any Indemnitee in connection with a claim by a
third party unaffiliated with the Indemnitee). No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended
recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or
actual damages resulting from the gross negligence, bad faith or willful misconduct of such Indemnitee or its Related Parties or a material breach of such Indemnitee’s or its Related Parties’ obligations hereunder or under any other Loan
Document, in each case, as determined by a final and nonappealable judgment of a court of competent jurisdiction. 
 (e) Payments. All
amounts due under this Section shall be payable not later than ten (10) Business Days after written demand therefor. 
 (f)
Survival. The agreements in this Section shall survive the resignation of the Administrative Agent, the replacement of any Lender, the termination of this Agreement or the Aggregate Commitment and the repayment, satisfaction or discharge of
all the other Obligations. 
 Section 9.07 Accounting. Except as provided to the contrary
herein, all accounting terms used herein shall be interpreted and all accounting determinations hereunder shall be made in accordance with the Agreement Accounting Principles. 

Section 9.08 Severability of Provisions. Any provision in any Loan Document that is held
to be inoperative, unenforceable, or invalid in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable, or invalid without affecting the remaining provisions in that jurisdiction or the operation, enforceability, or validity
of that provision in any other jurisdiction, and to this end the provisions of all Loan Documents are declared to be severable. Without limiting the foregoing provisions of this Section 9.08, 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 Agent, then such provisions shall be deemed to be in effect only to the extent not so limited. 

  
 80 

 Section 9.09 Nonliability of Lenders. The
relationship between each Borrower on the one hand and the Lenders, the Arrangers and the Agents on the other hand shall be solely that of borrower and lender. None of the Agents, the Arrangers or any Lender shall have any fiduciary responsibilities
to any Borrower. None of the Agents, the Arrangers or any Lender undertakes any responsibility to any Borrower to review or inform any Borrower of any matter in connection with any phase of such Borrower’s business or operations. 

Section 9.10 Confidentiality. Each of the Administrative Agent and the Lenders agrees to
maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, trustees,
advisors and representatives on a confidential 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 and with
the Person, to the extent such compliance is within its control, disclosing such information being responsible for such compliance), (b) to the extent requested by any state, federal or foreign authority or examiner regulating banks or banking or
otherwise purporting to have jurisdiction over it or its Affiliates (including any self-regulatory authority, such as the National Association of Insurance Commissioners); provided that the Administrative Agent and the Lenders, as applicable,
shall, to the extent practicable and not prohibited by applicable law, give WBA reasonable notice thereof before complying therewith, except to the extent in connection with an audit or examination conducted by a regulatory authority having
jurisdiction over it or its affiliates, (c) as may be compelled in a judicial or administrative proceeding or as otherwise required by applicable laws or regulations or by any subpoena or similar legal process, provided that the
Administrative Agent and the Lenders, as applicable, shall, except with respect to regulatory audit or examination conducted by accountants or any governmental or regulatory authority exercising examination or regulatory authority, to the extent
practicable and not prohibited by applicable law, give WBA reasonable notice thereof before complying therewith, except to the extent in connection with an audit or examination conducted by a regulatory authority having jurisdiction over it or its
affiliates, (d) to any other party hereto, (e) in connection with the exercise of any remedies or the enforcement of rights hereunder or under any other Loan Document or the Fee Letter in any suit, action or proceeding relating thereto to
the extent such disclosure is reasonably necessary in connection with such suit, action or proceeding (provided that WBA shall be given notice thereof and a reasonable opportunity, in each case to the extent reasonably practicable and to the extent
permitted by applicable law, to seek a protective court order with respect to such Information prior to such disclosure (it being understood that the refusal by a court to grant such a protective order shall not prevent the disclosure of such
Information thereafter)), (f) subject to the acknowledgment and acceptance by any such party that such information is being disseminated on a confidential basis in accordance with the standard syndication process of the Arrangers or customary market
standards for dissemination of such types of information, subject to customary confidentiality restrictions that 

  
 81 

 
are no less restrictive in any material respect than those in this Section, which shall in any event require “click through” or other affirmative actions on the part of recipient to
access such information, 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 or (ii) any actual or prospective counterparty (or its advisors) to
any swap or derivative transaction relating to any Borrower and its obligations, (g) with the consent of WBA, (h) in connection with obtaining CUSIP numbers, (i) to the extent such Information (x) is or becomes publicly available
other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender or any of their respective Affiliates from a source, other than any Borrower or its Affiliates, that is not to such
Person’s knowledge subject to any confidentiality or fiduciary obligation to the Borrowers with respect to such Information or (j) to the extent that such information is independently developed by the Administrative Agent or Lender, as
applicable other than as a result of a breach of this Section. 
 In addition, on a confidential basis (except to the extent publicly
available other than as a result of a breach of this Section), the Administrative Agent and each Lender may disclose the existence of this Agreement and the information about this Agreement to market data collectors, similar services providers to
the lending industry, and service providers to the Administrative Agent and the Lenders in connection with the administration and management of this Agreement and the other Loan Documents. 

For purposes of this Section, “Information” means all information received from WBA or any Subsidiary relating to WBA or any
Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by WBA or any Subsidiary. 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 of the Administrative Agent and the Lenders acknowledges that (a) the
Information may include material non-public information concerning WBA or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable law, including United States Federal and state securities
laws. 
 Section 9.11 Nonreliance. Each of the Lenders hereby represents that it is not relying on
or looking to any margin stock (as defined in Regulation U) as collateral in the extension or maintenance of the credit provided for herein. 

Section 9.12 Disclosure. WBA and each Lender hereby acknowledge and agree that the Administrative
Agent and/or its respective Affiliates and certain of the other Lenders and/or their respective Affiliates from time to time may hold investments in, make other loans to or have other relationships with WBA and its Affiliates. 

  
 82 

 ARTICLE X 

THE ADMINISTRATIVE AGENT 

Section 10.01 Appointment and Authority. Each of the Lenders hereby irrevocably appoints Wells Fargo
to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the
terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article, other than Section 10.06 below, are solely for the benefit of the Administrative Agent and the Lenders, and the
Borrowers shall not have rights as a third party beneficiary of any of such provisions (other than as provided in Section 10.06 below). It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents
(or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used as a matter of
market custom, and is intended to create or reflect only an administrative relationship between contracting parties. 

Section 10.02 Rights as a Lender. The Person serving as the Administrative 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 the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or
unless the context otherwise requires, include the Person serving as the Administrative 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 WBA or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. 

Section 10.03 Reliance by Administrative Agent. The Administrative 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 to be genuine and to have been signed, sent or otherwise authenticated by the proper Person; provided that the foregoing shall not relieve the Administrative Agent of its obligations to comply with the procedures set forth in
Section 2.02(b) and 2.08, including the requirement to orally confirm the location and number of the applicable Borrower’s account to which proceeds of Loans are to be disbursed. The Administrative Agent also may rely upon any statement
made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must
be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of
such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for WBA), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in good faith in accordance
with the advice of any such counsel, accountants or experts. 

  
 83 

 Section 10.04 Exculpatory Provisions. The
Administrative 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, the Administrative 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 the Administrative Agent is required to exercise as directed in writing 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 the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary
to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a
Defaulting Lender in violation of any Debtor Relief Law; and 
 (c) shall not, except as expressly set forth herein and in the other Loan
Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to WBA or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its
Affiliates in any capacity. 
 The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the
consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Article
VIII) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default
unless and until written notice describing such Default is given to the Administrative Agent, WBA, any Borrower or a Lender. 
 The
Administrative 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 conditions set forth herein or therein or
the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in
Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

  
 84 

 Section 10.05 Delegation of Duties. The
Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative
Agent. The Administrative Agent and any such sub-agent may perform any and all of 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 Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Administrative Agent acted with gross
negligence or willful misconduct (or breached its material obligations under the Loan Documents) in the selection of such sub-agents. 

Section 10.06 Resignation of Administrative Agent.  

(a) The Administrative Agent may at any time give notice of its resignation to the Lenders and WBA. Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, subject to, so long as no Default has occurred and is continuing, the consent of WBA (such consent not to be unreasonably withheld or delayed), 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. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the
retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above, subject to, so long as no
Default has occurred and is continuing, the consent of WBA (such consent not to be unreasonably withheld or delayed); provided that if the Administrative Agent shall notify WBA and the Lenders that no qualifying Person has accepted such
appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and
(2) except for any indemnity payments or other amounts then owed to the retiring Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to
each Lender directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent 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 (other than as provided in Section 3.08 and other than any rights to indemnity payments or other amounts
owed to the retiring Administrative Agent as of the effective date of its resignation), and the retiring Administrative Agent 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 Section). The fees payable by WBA to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between WBA and such successor. After the retiring
Administrative Agent’s 

  
 85 

 
resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 9.06 shall continue in effect for the benefit of such retiring Administrative 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 was acting as Administrative Agent. 

(b) Any resignation by Wells Fargo as Administrative Agent pursuant to this Section 10.06 shall also constitute its resignation as the
Swing Line Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Swing Line
Lender and (b) such retiring Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents. 

Section 10.07 Non-Reliance on Administrative Agent and Other
Lenders. Each of the Lenders acknowledges that it has, independently and without reliance upon the Administrative 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 of the Lenders also acknowledges that it will, independently and without reliance upon the Administrative 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 this Agreement, any other Loan Document or any related
agreement or any document furnished hereunder or thereunder. 
 Section 10.08 No Other Duties, Etc.
Anything herein to the contrary notwithstanding, none of the joint book runners, Arrangers or other Agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents,
except in its capacity, as applicable, as the Administrative Agent, Swing Line Lender or a Lender hereunder. 

Section 10.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding
under any Debtor Relief Law or any other judicial proceeding relative to the Borrowers, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and
irrespective of whether the Administrative Agent shall have made any demand on the Borrowers) shall be entitled and empowered (but not obligated), by intervention in such proceeding or otherwise: 

(a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other
Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent) allowed in such judicial proceeding; and 

  
 86 

 (b) to collect and receive any monies or other property payable or deliverable on any such
claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such
judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due to the Administrative Agent. 

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any
Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 

Section 10.10 ERISA. (a) 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, 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 in connection with the Loans or the Commitments, 
 (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 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 Commitments
and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, 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 Commitments and this Agreement, or 

  
 87 

 (iv) such other representation, warranty and covenant as may be agreed in
writing between the Administrative Agent, in its sole discretion, and such Lender. 
 (b) 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 Agent, the Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the
benefit of the Borrowers, that none of the Administrative Agent, the Arrangers or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in the Loans, the Commitments and this Agreement (including in
connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto). 

ARTICLE XI 
 SETOFF 

Section 11.01 Setoff. In addition to, and without limitation of, any rights of the Lenders
under applicable law, if any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any
Affiliate of any Lender to or for the credit or account of any Borrower may be offset and applied toward the payment of the Obligations of such Borrower then owing to such Lender to the extent the Obligations shall then be due; provided, that
in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of
Section 2.20(a)(ii) 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 Administrative Agent and the Lenders, and (y) the Defaulting Lender shall
provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. 

ARTICLE XII 
 BENEFIT OF
AGREEMENT; ASSIGNMENTS; PARTICIPATIONS 
 Section 12.01 Successors and Assigns.
(a) Successors and Assigns Generally. The provisions of this Agreement and the other Loan Documents shall be binding upon and inure to the benefit of the parties hereto and thereto and their respective successors and assigns
permitted hereby, except that no Borrower may assign or otherwise transfer any of its rights or obligations hereunder or thereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of subsection
(d) of this Section or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and
void). 

  
 88 

 (b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Commitment and the Loans (including for purposes of this subsection (b), participations in Swing Line
Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the
time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B) in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this
purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $10,000,000 unless each of the
Administrative Agent and, so long as no Default under Sections 7.02, 7.05 or 7.06 has occurred and is continuing, WBA otherwise consents (each such consent not to be unreasonably withheld or delayed); provided, however, that concurrent
assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes
of determining whether such minimum amount has been met. 
 (ii) Proportionate Amounts. 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 with respect to the Loans or the Commitment assigned. 

(iii) Required Consents. No consent shall be required for any assignment except to the extent required by subsection
(b)(i)(B) of this Section and, in addition: 
 (A) the prior written consent of WBA (such consent to be provided in
WBA’s sole discretion) shall be required unless (i) a Default under Sections 7.02, 7.05 or 7.06 has occurred and is continuing at the time of such assignment or (ii) such assignment is to a Person that is a Lender (as defined
under the Existing Syndicated 5-Year Credit Agreement as in effect on the Effective Date) on the 

  
 89 

 
Effective Date and, as a result of such assignment, the assignee’s Commitment is equal to or less than such assignee’s Commitment (as defined under the Existing Syndicated 5-Year Credit Agreement as in effect on the Effective Date) under the Existing Syndicated 5-Year Credit Agreement as in effect on the Effective Date; and 

(B) the prior written consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) and, with
respect to any assignment under the 18-Month Revolving Facility, the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required if such assignment is to a Person that is not
a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender. 
 (iv) Assignment and
Assumption. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the
Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an administrative questionnaire. 

(v) No Assignment to Borrower. No such assignment shall be made to any Borrower or any of its Affiliates or
Subsidiaries. 
 (vi) No Assignment to Natural Persons. No such assignment shall be made to a natural person. 

(vii) No Assignment to Defaulting Lenders. No such assignment shall be made to a Defaulting Lender. 

(viii) Certain Additional Payments. 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 conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the 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 WBA and the
Administrative Agent, the Pro Rata Share of Loans (including participations in Swing Line Loans) under the applicable Tranche 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 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. 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. 

  
 90 

 Subject to acceptance and recording thereof by the Administrative Agent pursuant to
subsection (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and
Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections
3.01, 3.03, 3.04, 3.05, and 9.06 with respect to facts and circumstances occurring prior to the effective date of such assignment. Upon request, each Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment
or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance
with subsection (d) of this Section. 
 (c) Register. The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of WBA, shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the
Lenders of each Tranche, and the Commitments of, and principal amounts (and stated interest) of the Loans owing to, each Lender of each Tranche pursuant to the terms hereof from time to time (the “Register”). The entries in the
Register shall be conclusive, absent manifest error, and WBA, the Administrative Agent and the Lenders may 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. In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender. The Register shall be
available for inspection by WBA at any reasonable time and from time to time upon reasonable prior notice. In addition, at any time that a request for a consent for a material or substantive change to the Loan Documents is pending, any Lender may
request and receive from the Administrative Agent a copy of the Register. 
 (d) Participations. Any Lender may, with the prior
written consent of WBA ((i) such consent to be provided in WBA’s sole discretion, (ii) such consent not to be required if a Default under Sections 7.02, 7.05 or 7.06 has occurred and is continuing at the time of the sale of the
applicable participation and (iii) such consent not to be required for a participation to a Person that is a Lender (as defined under the Existing Syndicated 5-Year Credit Agreement as in effect on the
Effective Date) on the Effective Date), sell participations to any Person (other than a natural person, Defaulting Lender or the Borrowers or any of its Affiliates or Subsidiaries) (each, a “Participant”), in all or a portion of
such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such 

  
 91 

 
Lender’s participations in Swing Line Loans)); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain
solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrowers, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. 
 Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide
that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 8.02 that affects such Participant. Subject to subsection (e) of this
Section, WBA agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.03, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section.
To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.01 as though it were a Lender, provided that such Participant agrees to be subject to Section 2.19 as though it were a Lender.

 Each Lender that sells a participation shall, acting solely for this purpose as a nonfiduciary 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 the Loan Documents (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any
Commitments, Loans or its other Obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Loan or other Obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded
in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have
no responsibility for maintaining a Participant Register. 
 (e) Limitations upon Participant Rights. A Participant shall not be
entitled to receive any greater payment under Section 3.01, 3.03, 3.04 or 3.05 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to
such Participant is made with the applicable Borrower’s prior written consent. A Participant shall not be entitled to the benefits of Section 3.05 unless such Participant agrees to comply with Section 3.05 as though it were a Lender
(it being understood that the documentation required under Section 3.05(e) shall be delivered to the Lender who sells the participation). 

  
 92 

 (f) Certain Pledges. Any Lender may at any time pledge or assign a security interest
in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other central banking authority
having jurisdiction over such Lender; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(g) Resignation as Swing Line Lender after Assignment. Notwithstanding anything to the contrary contained herein, if at any time Wells
Fargo assigns all of its Commitments and Loans pursuant to subsection (b) above, Wells Fargo may, upon 30 days’ notice to WBA and the Lenders, resign as Swing Line Lender. In the event of any such resignation as a Swing Line Lender, WBA
shall be entitled to appoint from among the Lenders a successor Swing Line Lender hereunder, subject to the consent of such Lender; provided that no failure by WBA to appoint any such successor shall affect the resignation of Wells Fargo as
Swing Line Lender. If Wells Fargo resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation,
including the right to require the Lenders to fund risk participations in outstanding Swing Line Loans pursuant to Section 2.02(c). Upon the appointment and consent of a successor Swing Line Lender, such successor shall succeed to and become
vested with all of the rights, powers, privileges and duties of the retiring Swing Line Lender. 
 Section 12.02
Dissemination of Information. WBA authorizes each of the Lenders to disclose to any Participant or any other Person acquiring an interest in the Loan Documents by operation of law (each a “Transferee”) and any
prospective Transferee any and all information in such Lender’s possession concerning the creditworthiness of WBA and its Subsidiaries, including without limitation any information contained in any reports or other information delivered by WBA
pursuant to Section 6.01; provided that each Transferee and prospective Transferee agrees to be bound by Section 9.10 of this Agreement or other provisions at least as restrictive as Section 9.10 including making the
acknowledgments set forth therein. 
 Section 12.03 Tax Treatment. If any interest in any Loan
Document is transferred to any Transferee which is organized under the laws of any jurisdiction other than the United States or any State thereof, the transferor Lender shall cause such Transferee, concurrently with the effectiveness of such
transfer, to comply with the provisions of Section 3.05(e); provided, that damages for any breach of this Section 12.03 shall in no event exceed the reasonable
out-of-pocket expenses incurred by any Borrower in collecting or attempting to collect from the Transferee any forms it reasonably requires in order to determine its
withholding and reporting obligations in accordance with Section 3.05(e) herein. 

  
 93 

 ARTICLE XIII 

NOTICES 

Section 13.01 Notices; Effectiveness; Electronic Communication. (a) Notices
Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in subsection (b) below), 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 telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to
the applicable telephone number, as follows: 
 (i) if to WBA or any other Borrower, the Administrative Agent or the Swing
Line Lender, to the address, telecopier number, electronic mail address or telephone number set forth on Schedule 13.01; and 

(ii) if to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in its
administrative questionnaire. 
 Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail,
shall be deemed to have been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have
been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in paragraph (b) below, shall be effective as provided in
said paragraph (b). 
 (b) Electronic Communications. Notices and other communications to the Lenders hereunder may be delivered or
furnished by electronic communication (including e-mail and internet or intranet websites) pursuant to procedures approved by the Administrative Agent or as otherwise determined by the Administrative Agent,
provided that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The
Administrative Agent, the Swing Line Lender, WBA or any other Borrower may, in its respective discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it or as it
otherwise determines, provided that such determination or approval may be limited to particular notices or communications. 
 Unless
the Administrative Agent otherwise prescribes, (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 given during the normal business hours of the recipient, such notice or communication shall be deemed to have been given 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. 

  
 94 

 (c) The Platform. THE PLATFORM (IF ANY) IS PROVIDED “AS IS” AND “AS
AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) 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 ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to WBA,
any Borrower, any Lender, or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of WBA’s or the Administrative Agent’s transmission of Borrower Materials
through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful
misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to WBA, any Lender, or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to
direct or actual damages). 
 (d) Change of Address, Etc. Each of WBA, any Borrower, the Administrative Agent and the Swing Line
Lender may change its address, telecopier or telephone number for notices and other communications hereunder by written notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and
other communications hereunder by written notice to WBA, the Administrative Agent and the Swing Line Lender. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the 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. Furthermore, 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 United States Federal and state securities laws, to make reference to Borrower Materials 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 WBA or its securities for purposes of United States Federal or state
securities laws. 

  
 95 

 (e) Reliance by Administrative Agent and Lenders. The Administrative Agent and the
Lenders shall be entitled to rely and act upon any notices purportedly given by or on behalf of any Borrower so long as such notices appear on their face to be authentic even if (i) such notices were not made in a manner specified herein, were
incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrowers shall jointly and severally indemnify the
Administrative Agent, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of any Borrower. All telephonic
communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 

ARTICLE XIV 
 COUNTERPARTS;
INTEGRATION; EFFECTIVENESS; ELECTRONIC EXECUTION 
 Section 14.01 Counterparts; Effectiveness. This
Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Except as provided in Article
IV, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the parties
hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or email shall be
effective as delivery of a manually executed counterpart of this Agreement. 
 Section 14.02 Electronic
Execution of Assignments. The words “execute,” “execution,” “signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the
transactions contemplated hereby (including without limitation Assignment and Assumptions, amendments or other modifications, Revolving Loan Borrowing Notices, Swing Line Loan Borrowing Notices, waivers and consents) shall be deemed to include
electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, 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; provided that notwithstanding anything contained herein to the contrary, the
Administrative Agent is under no obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it. Without limiting the generality of the
foregoing, each party hereto hereby (i) 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 Borrowers, electronic images of this Agreement or any other Loan Documents (in each case, including with respect to any signature pages thereto) shall have the same legal effect, validity and enforceability as any paper original,
and (ii) waives any argument, defense or right to contest the validity or enforceability of the Loan Documents based solely on the lack of paper original copies of any Loan Documents, including with respect to any signature pages thereto. 

  
 96 

 ARTICLE XV 

CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL 

Section 15.01 Choice of Law. THE LOAN DOCUMENTS AND OBLIGATIONS OF THE PARTIES THEREUNDER (INCLUDING,
WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER THEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 

Section 15.02 Consent to Jurisdiction. EACH OF WBA, THE OTHER BORROWERS, THE AGENTS, THE
ARRANGERS AND THE LENDERS HEREBY IRREVOCABLY SUBMITS TO JURISDICTION OF ANY FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN THE BOROUGH OF MANHATTAN OR, IF THAT COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, IN ANY STATE COURT LOCATED IN
THE CITY AND COUNTY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS AND HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND
IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE AGENTS, THE
ARRANGERS OR ANY LENDER TO BRING PROCEEDINGS AGAINST WBA AND/OR ANY OTHER BORROWER IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BROUGHT BY BORROWERS, DIRECTLY OR INDIRECTLY, IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED
WITH ANY LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A COURT IN ANY FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN THE BOROUGH OF MANHATTAN OR, IF THAT COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, IN ANY STATE COURT LOCATED IN THE CITY AND
COUNTY OF NEW YORK. 
 EACH OF THE WBA AND/OR ANY OTHER BORROWER, THE AGENTS, THE ARRANGERS AND THE LENDERS HEREBY AGREES FURTHER THAT
SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE PERSON AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH

  
 97 

 
SECTION 13.01 AND AGREES THAT SUCH SERVICE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE PERSON IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE
AND BINDING SERVICE IN EVERY RESPECT. NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE AGENTS, THE ARRANGERS OR LENDERS TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

Section 15.03 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER
BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON 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 AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION. 
 Section 15.04 U.S. Patriot Act Notice. Each Lender that is subject to the U.S. Patriot
Act and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies WBA and each other Borrower that pursuant to the requirements of the U.S. Patriot Act, it is required to obtain, verify and record information that
identifies WBA and each other Borrower, which information includes the name and address of WBA and each other Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify WBA and each other
Borrower in accordance with the U.S. Patriot Act. WBA and each other Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender
requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the U.S. Patriot Act. 

Section 15.05 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), WBA and each other Borrower acknowledges and agrees, and acknowledges its Affiliates’
understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by the Administrative Agent, the Arrangers and the Lenders are arm’s-length commercial transactions
between WBA and its Affiliates, on the one hand, and the Administrative Agent, the Arrangers and the Lenders, on the other hand, (B) each of WBA and the Borrowers has consulted its own legal, accounting, regulatory and tax advisors to the
extent it has deemed appropriate, and (C) each of WBA and the Borrowers is capable of evaluating, and understands and accepts, the terms, risks and 

  
 98 

 
conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) each of the Administrative Agent, the Arrangers and the Lenders 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 WBA or any of its Affiliates, or any other Person and (B) neither the
Administrative Agent nor the Arrangers nor any of the Lenders has any obligation to WBA or any of its 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 Agent, the Arrangers, the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of WBA and its Affiliates, and neither the
Administrative Agent nor the Arrangers nor any of the Lenders has any obligation to disclose any of such interests to WBA or its Affiliates. To the fullest extent permitted by law, WBA and each other Borrower hereby agree and covenants that it
will not make any claims that it may have against the Administrative Agent, the Arrangers 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 15.06 Judgment Currency. If, for the purposes of obtaining judgment in any court, it is
necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the 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 Administrative Agent or any Lender 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 Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or such
Lender, as the case may be, may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative
Agent or any Lender from any applicable Borrower in the Agreement Currency, such applicable Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such Lender, as the case may be,
against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or any Lender in such currency, the Administrative Agent or such Lender, as the case may be, agrees to return
the amount of any excess to such applicable Borrower (or to any other Person who may be entitled thereto under applicable law). 

Section 15.07 Acknowledgement and Consent to Bail-In of Affected
Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other 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: 

  
 99 

 (a) the application of any Write-Down and Conversion Powers by the applicable Resolution
Authority to any such liabilities arising hereunder which 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 
 (iii) 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. 
 ARTICLE XVI 

WBA GUARANTEE 

Section 16.01 WBA Guaranty. Upon (and subject to) the appointment of a Designated Borrower and only for so
long as there is a Designated Borrower hereunder, WBA hereby guarantees (the undertaking of WBA contained in this Article XVI being the “Parent Guarantee”) the punctual payment when due, whether at stated maturity, by acceleration
or otherwise, of all Obligations of each such Designated Borrower under this Agreement, whether for principal, interest, fees, expenses or otherwise, which Obligations shall include such indebtedness, obligations, and liabilities which may be or
hereafter become unenforceable or shall be an allowed or disallowed claim under any proceeding or case commenced by or against WBA or any Designated Borrower under any Debtor Relief Laws, and shall include interest that accrues after the
commencement of any proceeding under any Debtor Relief Laws (such obligations, collectively, being the “Subsidiary Borrower Obligations”), and any and all expenses (including counsel fees and expenses) incurred by the Administrative
Agent or the Lenders in enforcing any rights under the Parent Guarantee. The Parent Guarantee is a guaranty of payment and not of collection. WBA agrees that, as between WBA and the Administrative Agent, the Subsidiary Borrower Obligations may be
declared to be due and payable for purposes of the Parent Guarantee notwithstanding any stay, injunction or other prohibition which may prevent, delay or vitiate any declaration as regards any Designated Borrower and that in the event of a
declaration or attempted declaration, the Subsidiary Borrower Obligations shall immediately become due and payable by WBA for purposes of the Parent Guarantee. 

  
 100 

 Section 16.02 Guaranty Absolute. Upon (and subject to) the
appointment of a Designated Borrower, WBA guarantees that the Subsidiary Borrower Obligations will be paid strictly in accordance with the terms of this Agreement, regardless of any law, regulation or order now or hereafter in effect in any
jurisdiction affecting any of such terms or the rights of the Administrative Agent or the Lenders with respect thereto. The liability of WBA under the Parent Guarantee shall be absolute and unconditional irrespective of: 

(a) any lack of validity, enforceability or genuineness of any provision of this Agreement, any Subsidiary Borrower Obligations or any other
agreement or instrument relating thereto; 
 (b) any change in the time, manner or place of payment of, or in any other term of, all or any
of the Subsidiary Borrower Obligations, or any other amendment or waiver of or any consent to departure from this Agreement; 
 (c) any
exchange, release or non-perfection of any collateral, or any release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Subsidiary Borrower Obligations; 

(d) any law or regulation of any jurisdiction or any other event affecting any term of a Subsidiary Borrower Obligation; or 

(e) any other circumstance which might otherwise constitute a defense available to, or a discharge of, WBA or any other Borrower. 

The Parent Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Subsidiary Borrower
Obligations is rescinded or must otherwise be returned by the Administrative Agent or any Lender upon the insolvency, bankruptcy or reorganization of any Designated Borrower or otherwise, all as though such payment had not been made. 

Section 16.03 Waivers. (a) WBA hereby waives promptness, diligence, notice of acceptance and any other
notice with respect to any of the Subsidiary Borrower Obligations and the Parent Guarantee and any requirement that the Administrative Agent or any Lender protect, secure, perfect or insure any security interest or lien or any property subject
thereto or exhaust any right or take any action against a Designated Borrower or any other Person or any collateral. 
 (b) WBA hereby
irrevocably waives any claims or other rights that it may now or hereafter acquire against any Designated Borrower that arise from the existence, payment, performance or enforcement of the obligations of WBA under the Parent Guarantee, including,
without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of the Administrative Agent or any Lender against such Designated Borrower or any
collateral, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to take or receive from such Designated Borrower, directly or indirectly, in cash or other
property or by set-off or in any other manner, payment or security on account of such claim, remedy or right. If any amount shall be paid to WBA in violation of the preceding

  
 101 

 
sentence at any time prior to the later of (i) both (x) the payment in full of the Subsidiary Borrower Obligations (including any and all Subsidiary Borrower Obligations which remain
outstanding after the Facility Termination Date) and all other amounts payable under the Parent Guarantee and (y) such time as there is no Designated Borrower hereunder and (ii) the Facility Termination Date, such amount shall be held in
trust for the benefit of the Administrative Agent and the Lenders and shall forthwith be paid to the Administrative Agent to be credited and applied to the Subsidiary Borrower Obligations and all other amounts payable under the Parent Guarantee,
whether matured or unmatured, in accordance with the terms of this Agreement and the Parent Guarantee, or to be held as collateral for any Subsidiary Borrower Obligations or other amounts payable under the Parent Guarantee thereafter arising. WBA
acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Agreement and the Parent Guarantee and that the waiver set forth in this Section 16.03(b) is knowingly made in contemplation of
such benefits. 
 Section 16.04 Continuing Guaranty. Upon (and subject to) the appointment of a Designated
Borrower, the Parent Guarantee is a continuing guaranty and shall (i) remain in full force and effect until both (x) the payment in full of the Subsidiary Borrower Obligations (including any and all Subsidiary Borrower Obligations which
remain outstanding after the Facility Termination Date) and all other amounts payable under the Parent Guarantee and (y) such time as there is no Designated Borrower hereunder, (ii) be binding upon each of WBA and its successors and
assigns and (iii) inure to the benefit of and be enforceable by the Lenders, the Administrative Agent and their respective successors, transferees and assigns. In the event that a Designated Borrower is appointed or reinstated pursuant to
Section 2.21 after the Parent Guaranty is no longer continuing pursuant to the preceding sentence, this Guaranty shall in turn be reinstated and shall thereafter constitute a continuing guaranty with respect to such Designated Borrower and its
Subsidiary Borrower Obligations (subject to the preceding sentence). 
 [Signature Pages Follow] 

  
 102 

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

			
	 WALGREENS BOOTS ALLIANCE, INC.,

	as Borrower
		
	By	 	 /s/ John Devlin

		 	 Name: John Devlin

		 	 Title: Treasury Vice President

		
	By	 	 /s/ Aidan Clare

		 	 Name: Aidan Clare

		 	 Title: Senior Vice President and Global Treasurer

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 ADMINISTRATIVE AGENT: 

 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

	 as the Administrative Agent

		
	By:	 	 /s/ Jordan Harris

	 Name:
	 	 Jordan Harris

	 Title:
	 	 Managing Director

 LENDERS: 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION

	 as a Lender and Swing Line Lender

		
	 By:
	 	 /s/ Jordan Harris

	 Name:
	 	Jordan Harris
	 Title:
	 	Managing Director

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 Bank of America, N.A.

	 as Lender

		
	By:	 	 /s/ J. Casey Cosgrove

	 Name:
	 	 J. Casey Cosgrove

	 Title:
	 	 Director

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 JPMORGAN CHASE BANK, N.A.,

	 as Lender

		
	By:	 	 /s/ Heather Hoopingarner

	Name:	 	Heather Hoopingarner
	Title:	 	Vice President

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 Citibank, N.A.,
 as
Lender

		
	By:	 	 /s/ Carolyn A. Kee

	Name:	 	Carolyn A. Kee
	Title:	 	Vice President

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
					
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as Lender

		
	By:	 	 /s/ Ming K. Chu

	Name:	 	Ming K. Chu	 	ming.k.chu@db.com
	Title:	 	Director	 	
		
	By:	 	 /s/ Marko Lukin

	Name:	 	Marko Lukin	 	marko.lukin@db.com
	Title:	 	Director	 	

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	HSBC BANK USA, NATIONAL
	ASSOCIATION, as Lender
		
	By:	 	 /s/ James Smith

	Name:	 	James Smith
	Title:	 	Vice President

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 Intesa Sanpaolo SpA – New York Branch,

as Lender

		
	By:	 	 /s/ Alessandro Toigo

	Name:	 	Alessandro Toigo
	Title:	 	Head of Corporate Desk
	
	 Intesa Sanpaolo SpA – New York Branch,

as Lender

		
	By:	 	 /s/ Davide Casale

	Name:	 	Davide Casale
	Title:	 	Relationship Manager

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 MIZUHO BANK, LTD.,
 as
Lender

		
	By:	 	 /s/ Tracy Rahn

	Name:	 	Tracy Rahn
	Title:	 	Executive Director

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 National Westminster Bank plc,
 as
Lender

		
	By:	 	 /s/ Jonathan Eady

	Name:	 	Jonathan Eady
	Title:	 	Director

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 Sumitomo Mitsui Banking Corporation,

as Lender

		
	By:	 	 /s/ Rosa Pritsch

	Name:	 	Rosa Pritsch
	Title:	 	Director

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Lender

		
	By:	 	 /s/ Conan Schleicher

	Name:	 	Conan Schleicher
	Title:	 	Senior Vice President

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 UniCredit Bank AG, New York Branch,

as Lender

		
	By:	 	 /s/ Mario Fogliati

	Name:	 	Mario Fogliati
	Title:	 	Relationship Manager
		
	By:	 	 /s/ Laura Shelmerdine

	Name:	 	Laura Shelmerdine
	Title:	 	Associate Director

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	 The Toronto-Dominion Bank, New York Branch

as Lender

		
	By:	 	 /s/ Pradeep Mehra

	Name:	 	Pradeep Mehra
	Title:	 	Authorized Signatory

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 
			
	TRUIST BANK, as Lender
		
	By:	 	 /s/ Kenneth M. Blackwell

	Name:	 	Kenneth M. Blackwell
	Title:	 	Director

 [Signature Page to Revolving Credit Agreement (Wells Fargo)] 

 Schedule 1.01 

PRICING SCHEDULE 
 TO
REVOLVING CREDIT AGREEMENT 
 Applicable Margin for 364-Day Tranche Loans 

 

			
	 Applicable Margin for Eurocurrency Loans
	  	 Applicable Margin for Alternate Base Rate
Loans

	 0.950%
	  	0.000%

 Applicable Margin for 

18-Month Tranche Loans and Swing Line Loans 

 

					
	 Index Debt Rating

(Moody’s or S&P)
	  	 Applicable Margin for Eurocurrency

Loans and Swing Line Loans
	  	 Applicable Margin for

Alternate Base Rate Loans

	 Rating Category 1: 3 A- / A3
	  	0.900%	  	0.000%
	 Rating Category 2: BBB+ / Baa1
	  	0.975%	  	0.000%
	 Rating Category 3: BBB / Baa2
	  	1.050%	  	0.000%
	 Rating Category 4: BBB- / Baa3
	  	1.125%	  	0.050%
	 Rating Category 5: £ BB+ /
Ba1
	  	1.200%	  	0.125%

 For purposes of the foregoing, “Index Debt” means senior, unsecured, long-term Indebtedness for Borrowed
Money of WBA that is not guaranteed by any other person or subject to any other credit enhancement. If (i) either Moody’s or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred
to in the last sentence of this paragraph), then such rating agency shall be deemed to have established a rating in Rating Category 5; (ii) the ratings established or deemed to have been established by Moody’s and S&P for the Index Debt
shall fall within different Rating Categories, the Applicable Margin shall be based on the higher of the two ratings, and (iii) the ratings established or deemed to have been established by Moody’s and S&P for the Index Debt shall be
changed (other than as a result of a change in the rating system of Moody’s or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Margin shall
apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of Moody’s or S&P shall change, or if either such rating
agency shall cease to be in the business of rating corporate debt obligations, WBA and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency
and, pending the effectiveness of any such amendment, the Applicable Margin shall be determined by reference to the rating most recently in effect prior to such change or cessation. 

 Schedule 2.01 

COMMITMENT SCHEDULE 
 TO
REVOLVING CREDIT AGREEMENT 
 [On file with Administrative Agent] 

 Schedule 4.01(h) 

EFFECTIVE DATE COMMITMENT TERMINATION CONDITIONS 
  

			
	 Existing Credit Agreement
	  	 Effective Date Commitment Termination
Conditions

	364-Day Revolving Credit Agreement, dated as of January 18, 2019, by and among the Borrower, the lenders from time to time party thereto and Mizuho Bank, Ltd., as administrative agent (as
amended, restated, supplemented or otherwise modified from time to time, the “Mizuho Credit Agreement”)	  	At least $1.5 billion of the Commitments (as defined in the Mizuho Credit Agreement) shall be terminated.
		
	$1.325 billion Revolving Credit Agreement, dated as of April 2, 2020, by and among the Borrower, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent (as amended, restated,
supplemented or otherwise modified from time to time, the “JPM Club Credit Agreement”)	  	The Commitments (as defined in the JPM Club Credit Agreement) shall be terminated and any loans outstanding or other amounts owed to the lenders or agents thereunder shall have been paid in full.
		
	Existing Wells Fargo Credit Agreement	  	All New Commitments (as defined in the Existing Wells Fargo Credit Agreement) shall be terminated and any loans outstanding or other amounts owed to the lenders or agents thereunder shall have been paid in full.
		
	Revolving Credit Agreement, dated as of August 30, 2019, by and among the Borrower, the lenders from time to time party thereto and UniCredit Bank AG, New York Branch, as administrative agent (as amended, restated, supplemented
or otherwise modified from time to time, the “UniCredit Credit Agreement”)	  	Solely to the extent UniCredit Bank AG, New York Branch is a Lender under the Revolving Facility, the Commitments (as defined in the UniCredit Credit Agreement) shall be terminated and any loans outstanding or other amounts owed to
the lenders or agents thereunder shall have been paid in full.
		
	Revolving Credit Agreement, dated as of August 30, 2019, by and among the Borrower, the lenders from time to time party thereto and HSBC Bank USA, N.A., as administrative agent (as amended, restated, supplemented or otherwise
modified from time to time, the “2019 HSBC Credit Agreement”)	  	Solely to the extent HSBC Bank USA, N.A. (or any of its affiliates) is a Lender under the Revolving Facility, the Commitments (as defined in the 2019 HSBC Credit Agreement) shall be terminated and any loans outstanding or other
amounts owed to the lenders or agents thereunder shall have been paid in full.
		
	Revolving Credit Agreement, dated as of August 30, 2019, by and among the Borrower, the lenders from time to time party thereto and Citibank, N.A., as administrative agent (as amended, restated, supplemented or otherwise
modified from time to time, the “Citi Credit Agreement”)	  	Solely to the extent Citibank, N.A. is a Lender under the Revolving Facility, the Commitments (as defined in the Citi Credit Agreement) shall be terminated and any loans outstanding or other amounts owed to the lenders or agents
thereunder shall have been paid in full.

			
		
	Revolving Credit Agreement, dated as of April 1, 2020, by and among the Borrower, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent (as amended, restated, supplemented or
otherwise modified from time to time, the “JPM Bi-lateral Facility”)	  	Solely to the extent JPMorgan Chase Bank, N.A. is a Lender under the Revolving Facility, the Commitments (as defined in the JPM Bi-lateral Facility) shall be terminated and any loans
outstanding or other amounts owed to the lenders or agents thereunder shall have been paid in full.
		
	Revolving Credit Agreement, dated as of April 7, 2020, by and among the Borrower, WBA Financial Services Limited, the lenders from time to time party thereto and HSBC Bank PLC, as administrative agent (as amended, restated,
supplemented or otherwise modified from time to time, “2020 HSBC Credit Agreement”)	  	Solely to the extent HSBC Bank USA, N.A. (or any of its affiliates) is a Lender under the Revolving Facility, the Commitments (as defined in the 2020 HSBC Credit Agreement) shall be terminated and any loans outstanding or other
amounts owed to the lenders or agents thereunder shall have been paid in full.

 Schedule 13.01 

CERTAIN ADDRESSES FOR NOTICES 

	1.	 Address of each Borrower: 

[On file with Administrative Agent] 
  

	2.	 Address for the Administrative Agent and Swing Line Lender:
 

 Daily Operations Contact 

Heather Laurel 
 Deal
Administrator 
 Phone: (704) 590-03747 

Fax: (844) 879-5899 

Email: AgencyServices.Requests@WellsFargo.com; 

Heather.Laurel@wellsfargo.com 

With a Copy to: 
 Jordan Harris

 Managing Director 

Healthcare Corporate & Investment Banking 

Phone: 704-410-2132 

Email: jordan.harris@wellsfargo.com 

Mailing Address 
 550 S
Tryon St., 12th Floor 
 Charlotte, NC 28202 

MAC D1086-126

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}]]