Document:

Execution Version

KINGSTONE COMPANIES, INC.

TO

WILMINGTON TRUST, NATIONAL ASSOCIATION,

TRUSTEE

INDENTURE

Dated as of December 19, 2017

Debt Securities

CROSS REFERENCE SHEET

Between

Provisions of Sections 310 through 318(a) inclusive of the Trust Indenture Act of 1939 and the Indenture dated as of December 19, 2017, between Kingstone Companies, Inc. and Wilmington Trust, National Association, as trustee.

 

	 	 	 
	
Section of Act

	
  

	
Section of Indenture

	
310(a)(1) and (2)

	
  

	
8.09

	
310(a)(3) and (4)

	
  

	
*

	
310(b)

	
  

	
8.08 and 8.10

	
310(c)

	
  

	
*

	
311(a)

	
  

	
8.13

	
311(b)

	
  

	
8.13

	
311(c)

	
  

	
*

	
312(a)

	
  

	
6.01 and

 6.02(a)

	
312(b)

	
  

	
6.02(b)

	
312(c)

	
  

	
6.02(c)

	
313(a)(1), (2), (3), (4), (6) and (7)

	
  

	
6.04(a)

	
313(a)(5)

	
  

	
*

	
313(b)(1)

	
  

	
*

	
313(b)(2)

	
  

	
6.04

	
313(c)

	
  

	
6.04

	
313(d)

	
  

	
6.04

	
314(a)(1)

	
  

	
6.03

	
314(a)(2)

	
  

	
6.03

	
314(a)(3)

	
  

	
6.03

	
314(b)

	
  

	
*

	
314(c)(1)

	
  

	
5.05

	
314(c)(2)

	
  

	
15.05

	
314(c)(3)

	
  

	
*

	
314(d)

	
  

	
*

	
314(e)

	
  

	
15.05

	
314(f)

	
  

	
*

	
315(a), (c) and (d)

	
  

	
8.01

	
315(b)

	
  

	
7.08

	
315(e)

	
  

	
7.09

	
316(a)(1)

	
  

	
7.07

	
316(a)(2)

	
  

	
*

	
316(a) last para.

	
  

	
9.03

	
316(b)

	
  

	
7.10

	
317(a)

	
  

	
7.02

	
317(b)

	
  

	
5.04

	
318(a)

	
  

	
15.07

 

	
*

	
Not Applicable.

This cross reference sheet shall not, for any purpose, be considered part of the Indenture.

TABLE OF CONTENTS

 

	 	 	 	 	 	 	 
	
 

	
    

	
 

	
  

	
Page

	
 

	
ARTICLE 1 DEFINITIONS

	
  

	
 

	
1

	
  

	 	 	 
	
Section 1.01

	
    

	
Definitions

	
  

	
 

	
1

	
  

	 	 
	
ARTICLE 2 DEBT SECURITY FORMS

	
  

	
 

	
6

	
  

	 	 	 
	
Section 2.01

	
    

	
Forms Generally

	
  

	
 

	
6

	
  

	 	 	 
	
Section 2.02

	
    

	
Forms of Debt Securities

	
  

	
 

	
6

	
  

	 	 	 
	
Section 2.03

	
    

	
Form of Trustee's Certificate of Authentication

	
  

	
 

	
7

	
  

	 	 	 
	
Section 2.04

	
    

	
Debt Securities in Global Form

	
  

	
 

	
7

	
  

	 	 
	
ARTICLE 3 THE DEBT SECURITIES

	
  

	
 

	
9

	
  

	 	 	 
	
Section 3.01

	
    

	
Title and Terms

	
  

	
 

	
9

	
  

	 	 	 
	
Section 3.02

	
    

	
Denominations

	
  

	
 

	
11

	
  

	 	 	 
	
Section 3.03

	
    

	
Payment of Principal and Interest

	
  

	
 

	
11

	
  

	 	 	 
	
Section 3.04

	
    

	
Execution of Debt Securities

	
  

	
 

	
11

	
  

	 	 	 
	
Section 3.05

	
    

	
Temporary Debt Securities

	
  

	
 

	
13

	
  

	 	 	 
	
Section 3.06

	
    

	
Exchange and Registration of Transfer of Debt Securities

	
  

	
 

	
13

	
  

	 	 	 
	
Section 3.07

	
    

	
Mutilated, Destroyed, Lost or Stolen Debt Securities

	
  

	
 

	
14

	
  

	 	 	 
	
Section 3.08

	
    

	
Payment of Interest; Interest Rights Preserved

	
  

	
 

	
15

	
  

	 	 	 
	
Section 3.09

	
    

	
Persons Deemed Owners

	
  

	
 

	
16

	
  

	 	 	 
	
Section 3.10

	
    

	
Cancellation of Debt Securities Paid

	
  

	
 

	
17

	
  

	 	 	 
	
Section 3.11

	
    

	
Currency and Manner of Payments

	
  

	
 

	
17

	
  

	 	 	 
	
Section 3.12

	
    

	
CUSIP Numbers

	
  

	
 

	
18

	
  

	 	 
	
ARTICLE 4 REDEMPTION OF DEBT SECURITIES; SINKING FUNDS

	
  

	
 

	
19

	
  

	 	 	 
	
Section 4.01

	
    

	
Applicability of Article

	
  

	
 

	
19

	
  

	 	 	 
	
Section 4.02

	
    

	
Notice of Redemption; Selection of Debt Securities

	
  

	
 

	
19

	
  

	 	 	 
	
Section 4.03

	
    

	
Payment of Debt Securities Called for Redemption

	
  

	
 

	
20

	
  

	 	 	 
	
Section 4.04

	
    

	
Exclusion of Certain Debt Securities from Eligibility for Selection for Redemption

	
  

	
 

	
21

	
  

	 	 	 
	
Section 4.05

	
    

	
Provisions with Respect to any Sinking Funds

	
  

	
 

	
21

	
  

	 	 
	
ARTICLE 5 PARTICULAR COVENANTS OF THE COMPANY

	
  

	
 

	
23

	
  

	 	 	 
	
Section 5.01

	
    

	
Payment of Principal, Premium and Interest

	
  

	
 

	
23

	
  

	 	 	 
	
Section 5.02

	
    

	
Offices for Notices and Payments

	
  

	
 

	
23

	
  

	 	 	 	 	 	 	 
	
Section 5.03

	
    

	
Appointments to Fill Vacancies in Trustee's Office

	
  

	
 

	
24

	
  

	 	 	 
	
Section 5.04

	
    

	
Provisions as to Paying Agent

	
  

	
 

	
24

	
  

	 	 	 
	
Section 5.05

	
    

	
Certificate to Trustee

	
  

	
 

	
25

	
  

	 	 	 
	
Section 5.06

	
    

	
Waivers of Covenants

	
  

	
 

	
25

	
  

	 	 
	
ARTICLE 6 HOLDERS' LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

	
  

	
 

	
25

	
  

	 	 	 
	
Section 6.01

	
    

	
Holders' Lists

	
  

	
 

	
25

	
  

	 	 	 
	
Section 6.02

	
    

	
Preservation and Disclosure of Lists

	
  

	
 

	
25

	
  

	 	 	 
	
Section 6.03

	
    

	
Reports by the Company

	
  

	
 

	
26

	
  

	 	 	 
	
Section 6.04

	
    

	
Reports by the Trustee

	
  

	
 

	
26

	
  

	 	 
	
ARTICLE 7 REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT

	
  

	
 

	
26

	
  

	 	 	 
	
Section 7.01

	
    

	
Events of Default

	
  

	
 

	
26

	
  

	 	 	 
	
Section 7.02

	
    

	
Payment of Debt Securities Upon Default; Suit Therefor

	
  

	
 

	
29

	
  

	 	 	 
	
Section 7.03

	
    

	
Application of Moneys Collected by Trustee

	
  

	
 

	
31

	
  

	 	 	 
	
Section 7.04

	
    

	
Proceedings by Holders

	
  

	
 

	
32

	
  

	 	 	 
	
Section 7.05

	
    

	
Proceedings by Trustee

	
  

	
 

	
32

	
  

	 	 	 
	
Section 7.06

	
    

	
Remedies Cumulative and Continuing

	
  

	
 

	
32

	
  

	 	 	 
	
Section 7.07

	
    

	
Direction of Proceedings and Waiver of Defaults by Majority of Holders

	
  

	
 

	
33

	
  

	 	 	 
	
Section 7.08

	
    

	
Notice of Defaults

	
  

	
 

	
33

	
  

	 	 	 
	
Section 7.09

	
    

	
Undertaking to Pay Costs

	
  

	
 

	
34

	
  

	 	 	 
	
Section 7.10

	
    

	
Unconditional Right of Holders to Receive Principal, Premium and Interest

	
  

	
 

	
34

	
  

	 	 
	
ARTICLE 8 CONCERNING THE TRUSTEE

	
  

	
 

	
34

	
  

	 	 	 
	
Section 8.01

	
    

	
Duties and Responsibilities of Trustee

	
  

	
 

	
34

	
  

	 	 	 
	
Section 8.02

	
    

	
Reliance on Documents, Opinions

	
  

	
 

	
35

	
  

	 	 	 
	
Section 8.03

	
    

	
No Responsibility for Recitals

	
  

	
 

	
37

	
  

	 	 	 
	
Section 8.04

	
    

	
Trustee and Agents May Own Debt Securities

	
  

	
 

	
37

	
  

	 	 	 
	
Section 8.05

	
    

	
Moneys to be Held in Trust

	
  

	
 

	
37

	
  

	 	 	 
	
Section 8.06

	
    

	
Compensation and Expenses of Trustee

	
  

	
 

	
37

	
  

	 	 	 	 	 	 	 
	
Section 8.07

	
    

	
Officers' Certificate as Evidence

	
  

	
 

	
38

	
  

	 	 	 
	
Section 8.08

	
    

	
Conflicting Interest of Trustee

	
  

	
 

	
38

	
  

	 	 	 
	
Section 8.09

	
    

	
Eligibility of Trustee

	
  

	
 

	
38

	
  

	 	 	 
	
Section 8.10

	
    

	
Resignation or Removal of Trustee

	
  

	
 

	
39

	
  

	 	 	 
	
Section 8.11

	
    

	
Acceptance by Successor Trustee

	
  

	
 

	
40

	
  

	 	 	 
	
Section 8.12

	
    

	
Succession by Merger

	
  

	
 

	
41

	
  

	 	 	 
	
Section 8.13

	
    

	
Limitation on Rights of Trustee as a Creditor

	
  

	
 

	
41

	
  

	 	 	 
	
Section 8.14

	
    

	
Authenticating Agents

	
  

	
 

	
41

	
  

	 	 	 
	
Section 8.15

	
    

	
Trustee's Application for Instructions from the Company

	
  

	
 

	
44

	
  

	 	 
	
ARTICLE 9 CONCERNING THE HOLDERS

	
  

	
 

	
44

	
  

	 	 	 
	
Section 9.01

	
    

	
Action by Holders

	
  

	
 

	
44

	
  

	 	 	 
	
Section 9.02

	
    

	
Proof of Execution by Holders

	
  

	
 

	
44

	
  

	 	 	 
	
Section 9.03

	
    

	
Company-Owned Debt Securities Disregarded

	
  

	
 

	
45

	
  

	 	 	 
	
Section 9.04

	
    

	
Revocation of Consents; Future Holders Bound

	
  

	
 

	
45

	
  

	 	 
	
ARTICLE 10 HOLDERS' MEETINGS

	
  

	
 

	
46

	
  

	 	 	 
	
Section 10.01

	
    

	
Purposes of Meetings

	
  

	
 

	
46

	
  

	 	 	 
	
Section 10.02

	
    

	
Call of Meetings by Trustee

	
  

	
 

	
46

	
  

	 	 	 
	
Section 10.03

	
    

	
Call of Meetings by Company or Holders

	
  

	
 

	
46

	
  

	 	 	 
	
Section 10.04

	
    

	
Qualifications for Voting

	
  

	
 

	
46

	
  

	 	 	 
	
Section 10.05

	
    

	
Regulations

	
  

	
 

	
47

	
  

	 	 	 
	
Section 10.06

	
    

	
Voting

	
  

	
 

	
47

	
  

	 	 	 
	
Section 10.07

	
    

	
No Delay of Rights by Meeting

	
  

	
 

	
48

	
  

	 	 
	
ARTICLE 11 SUPPLEMENTAL INDENTURES

	
  

	
 

	
48

	
  

	 	 	 
	
Section 11.01

	
    

	
Supplemental Indentures without Consent of Holders

	
  

	
 

	
48

	
  

	 	 	 
	
Section 11.02

	
    

	
Supplemental Indentures with Consent of Holders

	
  

	
 

	
50

	
  

	 	 	 
	
Section 11.03

	
    

	
Effect of Supplemental Indentures

	
  

	
 

	
51

	
  

	 	 	 
	
Section 11.04

	
    

	
Notation on Debt Securities

	
  

	
 

	
51

	
  

	 	 	 
	
Section 11.05

	
    

	
Evidence of Compliance of Supplemental Indenture to be Furnished Trustee

	
  

	
 

	
51

	
  

	
 

	
    

	
 

	
  

	 	
 

	
ARTICLE 12 CONSOLIDATION, MERGER, SALE AND CONVEYANCE

	
  

	
 

	
51

	
  

	 	 	 
	
Section 12.01

	
    

	
Company May Consolidate on Certain Terms

	
  

	
 

	
51

	
  

	 	 	 
	
Section 12.02

	
    

	
Successor Entity to be Substituted

	
  

	
 

	
52

	
  

	 	 	 
	
Section 12.03

	
    

	
Opinion of Counsel to Be Given to the Trustee

	
  

	
 

	
52

	
  

	 	 
	
ARTICLE 13 SATISFACTION, DISCHARGE AND DEFEASANCE OF INDENTURE

	
  

	
 

	
52

	
  

	 	 	 
	
Section 13.01

	
    

	
Satisfaction, Discharge and Legal Defeasance of Debt Securities of any Series

	
  

	
 

	
52

	
  

	 	 	 
	
Section 13.02

	
    

	
Covenant Defeasance of Debt Securities of any Series

	
  

	
 

	
54

	
  

	 	 	 
	
Section 13.03

	
    

	
Application of Trust Funds; Indemnification

	
  

	
 

	
55

	
  

	 	 	 
	
Section 13.04

	
    

	
Return of Unclaimed Moneys

	
  

	
 

	
56

	
  

	 	 	 
	
Section 13.05

	
    

	
Reinstatement

	
  

	
 

	
56

	
  

	 	 
	
ARTICLE 14 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

	
  

	
 

	
56

	
  

	 	 	 
	
Section 14.01

	
    

	
Indenture and Debt Securities Solely Obligations of the Company

	
  

	
 

	
56

	
  

	 	 
	
ARTICLE 15 MISCELLANEOUS PROVISIONS

	
  

	
 

	
57

	
  

	 	 	 
	
Section 15.01

	
    

	
Provisions Binding on Successors of the Company

	
  

	
 

	
57

	
  

	 	 	 
	
Section 15.02

	
    

	
Indenture for Sole Benefit of Parties and Holders of Debt Securities

	
  

	
 

	
57

	
  

	 	 	 
	
Section 15.03

	
    

	
Addresses for Notices

	
  

	
 

	
57

	
  

	 	 	 
	
Section 15.04

	
    

	
Contract; Waiver of Trial by Jury

	
  

	
 

	
58

	
  

	 	 	 
	
Section 15.05

	
    

	
Evidence of Compliance with Conditions Precedent

	
  

	
 

	
58

	
  

	 	 	 
	
Section 15.06

	
    

	
Legal Holidays

	
  

	
 

	
59

	
  

	 	 	 
	
Section 15.07

	
    

	
Trust Indenture Act of 1939 to Control

	
  

	
 

	
59

	
  

	 	 	 
	
Section 15.08

	
    

	
Table of Contents, Headings

	
  

	
 

	
59

	
  

	 	 	 
	
Section 15.09

	
    

	
Determination of Principal Amount

	
  

	
 

	
59

	
  

	 	 	 
	
Section 15.10

	
    

	
Execution in Counterparts

	
  

	
 

	
60

	
  

 

THIS INDENTURE, dated as of December 19, 2017, between Kingstone Companies, Inc., a Delaware corporation (the "Company"), and Wilmington Trust, National Association, as trustee (the "Trustee").

RECITALS OF THE COMPANY

The Company has duly authorized the execution and delivery of this Indenture to provide for the issue from time to time of its unsecured debentures, notes, bonds or other evidences of indebtedness to be issued in one or more series as in this Indenture provided, up to such principal amount or amounts as may from time to time be authorized in or pursuant to one or more resolutions of the Board of Directors.

All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done.

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

For and in consideration of the premises and the purchase or acceptance of the Debt Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of the respective Holders from time to time of the Debt Securities or of any series thereof as follows:

ARTICLE 1

DEFINITIONS

Section 1.01 Definitions. The terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. All other terms used in this Indenture which are defined in the Trust Indenture Act of 1939 or which are by reference therein defined in the Securities Act shall have (except as herein otherwise expressly provided or unless the context otherwise requires) the meanings assigned to such terms in said Trust Indenture Act of 1939 and in the Securities Act as in force at the date of the execution of this Indenture. All accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term "generally accepted accounting principles" with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally accepted in the United States for domestic companies at the date of such computation. All references to such terms herein shall be both to the singular or the plural, as the context so requires. Unless the context otherwise requires, any reference to an "Article" or a "Section" refers to an Article or Section, as the case may be, of this Indenture. The words "herein," "hereof' and "hereunder" and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. The words "including," "includes" and "include" shall be deemed to be followed by the words "without limitation."

	
(a)

	
The term "Act" has the meaning set forth in Section 9.01.

 

(b) The term "Affiliate", when used with respect to 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 the purposes of this definition, "control" when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to the foregoing.

(c) The term "Authenticating Agent" means the agent of the Trustee, if any, which at the time shall be appointed and acting pursuant to Section 8.14.

(d) The term "Board of Directors" means the Board of Directors of the Company or any authorized committee of such Board designated by the Board of Directors to act for such Board for purposes of this Indenture.

(e) The term "Board Resolution" means a copy of a resolution certified by a Vice President, the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee.

(f) The term "Business Day", when used with respect to any Place of Payment or any other particular location, means any day other than a Saturday, a Sunday or a day on which banking institutions in the City of New York or the Place of Payment are authorized by law, regulation or executive order to remain closed.

(g) The term "Commission" means the U.S. Securities and Exchange Commission.

(h) The term "Company" means the party named as the "Company" in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and, thereafter, shall mean such successor. The foregoing sentence shall likewise apply to any subsequent successor or successors.

(i) The terms "Company Request" and "Company Order" mean, respectively, a written request or order signed in the name of the Company by its Chairman of the Board, Chief Executive Officer, President, Chief Financial Officer, Vice President, Treasurer, Secretary, or Assistant Secretary, and delivered to the Trustee.

(j) The term "Conversion Date" has the meaning set forth in Section 3.11.

(k) The term "Corporate Trust Office" means the designated office of the Trustee at which, at any particular time, its corporate trust business shall be administered, which office at the date hereof is located at 1100 North Market Street, Wilmington, Delaware 19890, Attention: Kingstone Companies Administrator, or such other address as the Trustee may designate from time to time by notice to the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Company).

 

(l) The term "Currency Determination Agent" means the financial institution, if any, from time to time selected by the Company for purposes of Section 3.11.

(m) The terms "Debt Security" or "Debt Securities" means any notes, debentures or other indebtedness of any series, as the case may be, issued by the Company from time to time, and authenticated and delivered under this Indenture.

(n) The term "Debt Security Register" has the meaning set forth in Section 3.06.

(o) The term "Debt Security Registrar" has the meaning set forth in Section 3.06.

(p) The term "Depository" means, unless otherwise specified by the Company pursuant to Section 3.01, with respect to Debt Securities of any series issuable or issued as a Global Debt Security, The Depository Trust Company, New York, New York, or any successor thereto registered as a clearing agency pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation.

(q) The term "Dollar" means the coin or currency of the United States of America which as of the time of payment is legal tender for the payment of public and private debts.

(r) The term "Dollar Equivalent of the Foreign Currency" has the meaning set forth in Section 3.11.

(s) The term "Event of Default" has the meaning set forth in Section 7.01.

(t) The term "Exchange Act" means the Securities Exchange Act of 1934, as amended.

(u) The term "Foreign Currency" means a currency issued by the government of any country other than the United States of America.

(v) The term "Global Debt Security" means a Debt Security issued in global form pursuant to Section 2.04 hereof to evidence all or part of a series of Debt Securities.

(w) The term "Government Obligations" means securities which are (i) direct obligations of the government that issued the currency in which the Debt Securities of a series are denominated or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the government that issued the currency in which the Debt Securities of such series are denominated, the payment of which obligations is unconditionally guaranteed by such government, and which, in either case, are full faith and credit obligations of such government, are denominated in the currency in which the Debt Securities of such series are denominated and which are not callable or redeemable at the option of the issuer thereof.

(x) The term "Holder" means any Person in whose name a Debt Security of any series is registered in the Debt Security Register applicable to Debt Securities of such series.

 

 (y) The term "Indenture" means this instrument as originally executed and delivered or, if amended or supplemented as herein provided pursuant to the applicable provisions hereof, as so amended or supplemented.

(z) The term "Indexed Debt Security" means a Debt Security, the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at original issuance.

(aa) The term "interest", when used with respect to an Original Issue Discount Debt Security that by its terms bears interest only after maturity, means interest payable after maturity.

(bb) The term "Interest Payment Date", when used with respect to any series of Debt Securities, means the Stated Maturity of an installment of interest on such Debt Securities.

(cc) The term "Market Exchange Rate" has the meaning set forth in Section 3.11.

(dd) The term "Officers' Certificate", when used with respect to the Company, means a certificate signed by any two of the following: its Chairman of the Board, Chief Executive Officer, President, Chief Financial Officer, Vice President, Treasurer, Secretary, or Assistant Secretary, and delivered to the Trustee. Each such certificate shall include the statements provided for in Section 15.05 to the extent required by the provisions of such Section.

(ee) The term "Opinion of Counsel" means an opinion in writing signed by legal counsel who may be an employee of or counsel to the Company and who shall be reasonably acceptable to the Trustee. Each such opinion shall include the statements provided for in Sections 3.04, 11.05, 12.03, 13.01, 13.02 and 15.05 to the extent required by the provisions of such Sections.

(ff) The term "Original Issue Discount Debt Security" means any Debt Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the maturity thereof pursuant to Section 7.01.

(gg) The term "Outstanding", when used with respect to Debt Securities or Debt Securities of any series, means, as of the date of determination, all such Debt Securities theretofore authenticated and delivered under this Indenture, except:

(1) such Debt Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

(2) such Debt Securities for whose payment or redemption money in the necessary amount and in the specified currency has been theretofore deposited with the Trustee or any paying agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own paying agent) for the Holders of such Debt Securities, provided, however, that if such Debt Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made;

 

 (3) such Debt Securities that have been paid pursuant to Section 3.07 or such Debt Securities in exchange for or in lieu of which other such Debt Securities have been authenticated and delivered pursuant to this Indenture, unless proof satisfactory to the Trustee is presented that any such Debt Securities are held by Persons in whose hands any of such Debt Securities are a legal, valid and binding obligation of the Company, and

(4) such Debt Securities the indebtedness in respect to which has been discharged in accordance with Section 13.01;

provided, however, that in determining whether the Holders of the requisite principal amount of such Outstanding Debt Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, such Debt Securities owned by the Company or any other obligor upon such Debt Securities or any Affiliate of the Company or such other obligor (except in the case in which the Company or such other obligor or Affiliate owns all Debt Securities Outstanding under the Indenture, or all Outstanding Debt Securities of each such series, as the case may be, without regard to this proviso) shall be disregarded and deemed not to be Outstanding in the manner set forth in Section 9.03.

(hh) The term "Person" means any individual, corporation, partnership, joint venture, association, joint-stock company, limited liability company, trust, unincorporated organization or government or any agency or political subdivision thereof.

(ii) The term "Place of Payment", when used with respect to the Debt Securities of any series, means the place or places where the principal of (premium, if any) and interest on the Debt Securities of that series are payable as specified in accordance with Section 3.01.

(jj) The term "Predecessor Debt Security" of any particular Debt Security means every previous Debt Security evidencing all or a portion of the same debt as that evidenced by such particular Debt Security, and for the purposes of this definition, any Debt Security authenticated and delivered under Section 3.07 in lieu of a mutilated, lost, destroyed or stolen Debt Security shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Debt Security.

(kk) The term "Redemption Date", when used with respect to any Debt Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture.

(ll) The term "Redemption Price", when used with respect to any Debt Security to be redeemed, means the price specified in such Debt Security at which it is to be redeemed pursuant to this Indenture.

(mm) The term "Regular Record Date" for the interest payable on any Debt Security on any Interest Payment Date means the date specified in such Debt Security as the "Regular Record Date" as contemplated by Section 3.01.

 

 (nn) The term "Responsible Officer", when used with respect to the Trustee, means any officer of the Trustee assigned to the Corporate Trust Administration unit (or any successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this Indenture and, for the purposes of Section 7.07, Section 7.08 and Section 8.01(c)(2), shall also include any other officer of the Trustee to whom any corporate trust matter relating to this Indenture is referred because of such officer's knowledge of and familiarity with the particular subject.

(oo) The term "Responsible Officer", when used with respect to the Company, means the Chairman of the Board, Chief Executive Officer, President, Chief Financial Officer, Treasurer or Secretary, any Vice President, or Assistant Secretary, in each case, of the Company.

(pp) The term "Securities Act" means the Securities Act of 1933, as amended.

(qq) The term "Special Record Date" for the payment of any Defaulted Interest (as defined in Section 3.08) means a date fixed by the Company pursuant to Section 3.08.

(rr) The term "Stated Maturity" when used with respect to any Debt Security or any installment of principal thereof or of interest thereon, means the date specified in such Debt Security as the fixed date on which the principal of such Debt Security, or such installment of interest, is due and payable.

(ss) The term "Subsidiary" means any Person of which the Company, or the Company and one or more Subsidiaries, or any one or more Subsidiaries, directly or indirectly own more than 50% of the Voting Stock.

(tt) The term "Trustee" means the party named as the "Trustee" in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and thereafter "Trustee" shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, "Trustee" as used with respect to the Debt Securities of any series shall mean the Trustee with respect to the Debt Securities of that series.

(uu) The term "Trust Indenture Act of 1939" means the Trust Indenture Act of 1939, as amended, as in force at the date as of which this Indenture was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, "Trust Indenture Act of 1939" means to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended.

(vv) The term "Voting Stock" means outstanding shares of capital stock or similar equity interests having under ordinary circumstances voting power for the election of directors, managers or the substantial equivalent thereof, whether at all times or only so long as no senior class of stock or similar equity interest has such voting power by reason of the happening of any contingency.

 

ARTICLE 2

DEBT SECURITY FORMS

Section 2.01 Forms Generally. The Debt Securities of each series and the certificates of authentication thereon shall have such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture (the provisions of which shall be appropriate to reflect the terms of each series of Debt Securities, including the currency or denomination, which may be Dollars or Foreign Currency), and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon, as may be required to comply with the rules of any securities exchange, or as may, consistently herewith, be determined by the officers executing such Debt Securities, as evidenced by their signing of such Debt Securities. Any portion of the text of any Debt Security may be set forth on the reverse thereof, with an appropriate reference thereto on the face of the Debt Security.

Section 2.02 Forms of Debt Securities. The Debt Securities of each series shall be in such form or forms (including global form) as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto.

Prior to the delivery of a Debt Security of any series in any such form to the Trustee for the Debt Securities of such series for authentication, the Company shall deliver to the Trustee the following:

(a) The Board Resolution or indenture supplemental hereto by or pursuant to which such form of Debt Security has been approved;

(b) An Officers' Certificate dated the date such Certificate is delivered to the Trustee stating that all conditions precedent provided for in this Indenture relating to the authentication and delivery of Debt Securities in such form have been complied with; and

(c) The Opinion of Counsel described in Section 3.04.

The definitive Debt Securities shall be printed, lithographed or engraved or produced by any combination of these methods or may be produced in any other manner, all as determined by the officers executing such Debt Securities, as evidenced by their execution thereof.

Section 2.03 Form of Trustee's Certificate of Authentication. The following is the form of the Certificate of Authentication of the Trustee to be endorsed on all Debt Securities substantially as follows:

This is one of the Debt Securities of the series designated therein issued under the within-mentioned Indenture.

 

	 	 	 
	
WILMINGTON TRUST, NATIONAL ASSOCIATION

	
    Trustee

	 	 
	
By:

	
 

	
 

	 	
 

	
Authorized Signatory

 

Section 2.04 Debt Securities in Global Form. (a) If the Company shall establish pursuant to Section 3.01 that the Debt Securities of a particular series are to be issued in whole or in part in the form of one or more Global Debt Securities, then the Company shall execute and the Trustee or its agent shall, in accordance with Section 3.04 and the Company Order delivered to the Trustee or its agent thereunder, authenticate and deliver such Global Debt Security or Global Debt Securities, which (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, the Outstanding Debt Securities of such series to be represented by such Global Debt Security or Global Debt Securities, or such portion thereof as the Company shall specify in a Company Order, (ii) shall be registered in the name of the Depository for such Global Debt Security or Global Debt Securities or its nominee, (iii) shall be delivered by the Trustee or its agent to the Depository or pursuant to the Depository's instruction or held by the Trustee as custodian for the Depository and (iv) shall bear a legend substantially to the following effect: "Unless this certificate is presented by an authorized representative of the Depository to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of the nominee of the Depository or in such other name as is requested by an authorized representative of the Depository (and any payment is made to the nominee of the Depository or to such other entity as is requested by an authorized representative of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, the nominee of the Depository, has an interest herein."

(b) Notwithstanding any other provision of this Section 2.04 or of Section 3.06, and subject to the provisions of paragraph (c) below, unless the terms of a Global Debt Security expressly permit such Global Debt Security to be exchanged in whole or in part for individual certificates representing Debt Securities, a Global Debt Security may be transferred, in whole but not in part and in the manner provided in Section 3.06, only to a nominee of the Depository for such Global Debt Security, or to the Depository, or a successor Depository for such Global Debt Security selected or approved by the Company, or to a nominee of such successor Depository.

(c) (1) If at any time the Depository for a Global Debt Security notifies the Company that it is unwilling or unable to continue as Depository for such Global Debt Security or if at any time the Depository for the Global Debt Securities for such series shall no longer be eligible or in good standing under the Exchange Act or other applicable statute or regulation, the Company shall appoint a successor Depository with respect to such Global Debt Security. If a successor Depository for such Global Debt Security is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility, the Company will execute, and the Trustee or its agent, upon receipt of a Company Request for the authentication and delivery of certificates representing Debt Securities of such series in exchange for such Global Debt Security, will authenticate and deliver, certificates representing Debt Securities of such series of like tenor and terms in an aggregate principal amount equal to the principal amount of the Global Debt Security in exchange for such Global Debt Security.

(2) The Company may at any time and in its sole discretion (subject, however, to the procedures of the Depository) determine that the Debt Securities of any series or portion thereof issued or issuable in the form of one or more Global Debt Securities shall no longer be represented by such Global Debt Security or Global Debt Securities. In such event the Company will execute, and the Trustee, upon receipt of a Company Request for the authentication and delivery of certificates representing Debt Securities of such series in exchange in whole or in part for such Global Debt Security, will authenticate and deliver certificates representing Debt Securities of such series of like tenor and terms in definitive form in an aggregate principal amount equal to the principal amount of such Global Debt Security or Global Debt Securities representing such series or portion thereof in exchange for such Global Debt Security or Global Debt Securities.

(3) If an Event of Default with respect to Debt Securities issued or issuable in the form of a Global Debt Security has occurred and is continuing, the Depository for such Global Debt Security may surrender such Global Debt Security in exchange in whole or in part for certificates representing Debt Securities of such series of like tenor and terms in definitive form on such terms as are acceptable to the Company and such Depository. Thereupon, the Company shall execute, and the Trustee or its agent shall authenticate and deliver, without a service charge, (A) to each Person specified by the Depository a certificate or certificates representing Debt Securities of the same series of like tenor and terms and of any authorized denomination as requested by such Person in an aggregate principal amount equal to and in exchange for such Person's beneficial interest as specified by the Depository in the Global Debt Security; and (B) to such Depository a new Global Debt Security of like tenor and terms and in an authorized denomination equal to the difference, if any, between the principal amount of the surrendered Global Debt Security and the aggregate principal amount of certificates representing Debt Securities delivered to Holders thereof.

(4) In any exchange provided for in any of the preceding three paragraphs, the Company will execute, and the Trustee or its agent will authenticate and deliver, certificates representing Debt Securities in definitive registered form in authorized denominations for Debt Securities of the same series or any integral multiple thereof. Upon the exchange of the entire principal amount of a Global Debt Security for certificates representing Debt Securities, such Global Debt Security shall be cancelled by the Trustee or its agent. Except as provided in the preceding paragraph, certificates representing Debt Securities issued in exchange for a Global Debt Security pursuant to this Section shall be registered in such names and in such authorized denominations for Debt Securities of that series or any integral multiple thereof, as the Depository shall instruct the Trustee or its agent. The Trustee or the Debt Security Registrar shall deliver at its Corporate Trust Office such certificates representing Debt Securities to the Holders in whose names such Debt Securities are so registered.

ARTICLE 3

THE DEBT SECURITIES

Section 3.01 Title and Terms. The aggregate principal amount of Debt Securities which may be authenticated and delivered under this Indenture is unlimited. The Debt Securities may be issued up to the aggregate principal amount of Debt Securities from time to time authorized by or pursuant to a Board Resolution.

The Debt Securities may be issued in one or more series. All Debt Securities of each series issued under this Indenture shall in all respects be equally and ratably entitled to the benefits hereof with respect to such series without preference, priority or distinction on account of the actual time or times of the authentication and delivery or maturity of the Debt Securities of such series. There shall be established in or pursuant to a Board Resolution, and set forth in an Officers' Certificate to the extent not established in a Board Resolution, or established in one or more indentures supplemental hereto, prior to the issuance of Debt Securities of any series:

(a) the title of the Debt Securities of the series (which shall distinguish the Debt Securities of the series from all other series of Debt Securities);

(b) any limit upon the aggregate principal amount of the Debt Securities of the series which may be authenticated and delivered under this Indenture (except for Debt Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Debt Securities of that series pursuant to this Article Three, the second paragraph of Section 4.03, or Section 11.04);

(c) the date or dates (or the manner of calculation thereof) on which the principal of the Debt Securities of the series is payable;

(d) the rate or rates (or the manner of calculation thereof) at which the Debt Securities of the series shall bear interest, if any, the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable and the Regular Record Date for the interest payable on any Interest Payment Date;

(e) the Place of Payment;

(f) the period or periods within which, the price or prices at which, the currency or currency units in which, and the terms and conditions upon which Debt Securities of the series may be redeemed, in whole or in part, at the option of the Company;

(g) the obligation, if any, of the Company to redeem or purchase Debt Securities of the series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices in the currency at which, the currency or currency units in which, and the terms and conditions upon which Debt Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;

(h) the denominations in which the Debt Securities of such series shall be issuable if other than minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof;

(i) if other than Dollars, the currencies in which payments of interest or principal of (and premium, if any, with respect to) the Debt Securities of the series are to be made;

(j) if the interest on or principal of (or premium, if any, with respect to) the Debt Securities of the series are to be payable, at the election of the Company or a Holder thereof or otherwise, in a currency other than that in which such Debt Securities are payable, the period or periods within which, and the other terms and conditions upon which, such election may be made, and the time and manner of determining the exchange rate between the currency in such Debt Securities are denominated or stated to be payable and the currency in which such Debt Securities or any of them are to be so payable;

 

 (k) whether the amount of payments of interest on or principal of (or premium, if any, with respect to) the Debt Securities of such series may be determined with reference to an index, formula or other method (which index, formula or method may be based, without limitation, on one or more currencies, commodities, equity indices or other indices), and, if so, the terms and conditions upon which and the manner in which such amounts shall be determined and paid or payable;

(l) the extent to which any Debt Securities will be issuable in permanent global form, the manner in which any payments on a permanent Global Debt Security will be made, and the appointment of any Depository relating thereto;

(m) any deletions from, modifications of or additions to the Events of Default or covenants with respect to the Debt Securities of such series, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein;

(n) if any of the Debt Securities of such series are to be issuable upon the exercise of warrants, this shall be so established as well as the time, manner and place for such Debt Securities to be authenticated and delivered;

(o) the inapplicability of any of the provisions of Article 13 with respect to any series of Debt Securities;

(p) the terms of any right to convert the Debt Securities of such series into, or exchange the Debt Securities for, the Company's common stock (par value is $0.01) or other securities or property or cash in lieu of the Company's common stock or other securities or property, or any combination thereof; and

(q) any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture).

All Debt Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to such Board Resolution and set forth in such Officers' Certificate or in any such indenture supplemental hereto.

Notwithstanding Section 3.01(b) and unless otherwise expressly provided with respect to a series of Debt Securities, the aggregate principal amount of a series of Debt Securities may be increased and additional Debt Securities of such series may be issued up to the maximum aggregate principal amount authorized with respect to such series as increased.

If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers' Certificate setting forth the terms of the series.

 

Section 3.02 Denominations. The Debt Securities of each series shall be issuable in registered form without coupons in such denominations as shall be specified as contemplated in Section 3.01. In the absence of any specification with respect to the Debt Securities of any series, the Debt Securities of such series shall be issuable in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof, which may be in Dollars or any Foreign Currency.

Section 3.03 Payment of Principal and Interest. The principal of, premium, if any, and interest on the Debt Securities shall be payable at the office or agency of the Company designated for that purpose in the Place of Payment, as provided in Section 5.02; provided, however, that interest may be payable at the option of the Company by check mailed to the address of the Person entitled thereto as such address shall appear on the Debt Security Register on the Regular Record Date for such interest payment.

Section 3.04 Execution of Debt Securities. The Debt Securities shall be executed manually or by facsimile in the name and on behalf of the Company by its Chairman of the Board of Directors, President, Vice President, Treasurer, Secretary or Assistant Secretary. Only such Debt Securities as shall bear thereon a certificate of authentication substantially in the form hereinbefore recited, manually executed by the Trustee, shall be entitled to the benefits of this Indenture or be valid or become obligatory for any purpose. Such certificate by the Trustee upon any Debt Security executed by the Company shall be conclusive evidence that the Debt Security so authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture.

In case any officer of the Company who shall have executed any of the Debt Securities shall cease to be such officer before the Debt Securities so executed shall have been authenticated and delivered by the Trustee, or disposed of by the Company, such Debt Securities nevertheless shall be valid and binding and may be authenticated and delivered or disposed of as though the Person who executed such Debt Securities had not ceased to be such officer of the Company; and any Debt Securities may be executed on behalf of the Company by such Persons as, at the actual date of the execution of such Debt Security, shall be the proper officers of the Company, although at the date of such Debt Security or of the execution of this Indenture any such Person was not such an officer.

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Debt Securities of any series, properly created in accordance with Section 3.01 and executed by the Company, to the Trustee for authentication; and the Trustee shall authenticate and deliver such Debt Securities upon receipt of a Company Order. In the event that any other Person performs the Trustee's duties as Authenticating Agent pursuant to a duly executed agreement, the Company shall notify the Trustee in writing of the issuance of any Debt Securities hereunder, such notice to be delivered in accordance with the provisions of Section 15.03 on the date such Debt Securities are delivered by the Company for authentication to such other Person.

 

Prior to any such authentication and delivery, the Trustee shall be entitled to receive, and shall be fully protected in relying upon, in addition to the Officers' Certificates relating to the issuance of any series of Debt Securities pursuant to Sections 2.02, 3.01 (if required by that Section), and Section 15.05, Opinions of Counsel stating that:

(a) all instruments furnished to the Trustee conform to the requirements of this Indenture and constitute sufficient authority hereunder for the Trustee to authenticate and deliver such Debt Securities;

(b) all laws and requirements with respect to the form and execution by the Company of the supplemental indenture, if any, have been complied with; the execution and delivery of the supplemental indenture, if any, will not violate the terms of this Indenture; the supplemental indenture has been duly qualified under the Trust Indenture Act of 1939; the Company has corporate or company power to execute and deliver any such supplemental indenture and has taken all necessary corporate action for those purposes; and any such supplemental indenture has been executed and delivered and constitutes the legal, valid and binding obligation of the Company enforceable in accordance with its terms (subject, as to enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors' rights generally from time to time in effect);

(c) the form and terms of such Debt Securities have been established in conformity with the provisions of this Indenture; and

(d) all laws and requirements with respect to the execution and delivery by the Company of such Debt Securities have been complied with; the authentication and delivery of the Debt Securities by the Trustee will not violate the terms of this Indenture; the Company has the corporate or company power to issue such Debt Securities; and such Debt Securities have been duly executed on behalf of the Company and, assuming due authentication and delivery by the Trustee, constitute legal, valid and binding obligations of the Company in accordance with their terms (subject, as to enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors' rights generally from time to time in effect) and are entitled to the benefits of this Indenture, equally and ratably with all other Outstanding Debt Securities, if any, of such series.

The Trustee shall not be required to authenticate such Debt Securities if the issue thereof will adversely affect the Trustee's own rights, duties or immunities under the Debt Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee or such action would expose the Trustee to personal liability to existing Holders.

Unless otherwise provided in the form of Debt Security for any series, all Debt Securities shall be dated the date of their authentication.

No Debt Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Debt Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Debt Security shall be conclusive evidence, and the only evidence, that such Debt Security has been duly authenticated and delivered hereunder.

 

Section 3.05 Temporary Debt Securities. Pending the preparation of definitive Debt Securities of any series, the Company may execute, and upon receipt of the documents required by Sections 2.02, 3.01 and 3.04, together with a Company Order, the Trustee shall authenticate and deliver, such temporary Debt Securities which may be printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denominations, substantially of the tenor of such definitive Debt Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such temporary Debt Securities may determine, as evidenced by their execution of such temporary Debt Securities.

If temporary Debt Securities of any series are issued, the Company will cause definitive Debt Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Debt Securities of any series, the temporary Debt Securities of such series shall be exchangeable for definitive Debt Securities of such series, upon surrender of the temporary Debt Securities of such series at any office or agency maintained by the Company for such purposes as provided in Section 5.02, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Debt Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Debt Securities of such series having the same interest rate and Stated Maturity and bearing interest from the same date of any authorized denominations. Until so exchanged the temporary Debt Securities of such series shall in all respects be entitled to the same benefits under this Indenture as definitive Debt Securities of such series.

Section 3.06 Exchange and Registration of Transfer of Debt Securities. Debt Securities may be exchanged for a like aggregate principal amount of Debt Securities of such series that are of other authorized denominations. Debt Securities to be exchanged shall be surrendered at any office or agency to be maintained for such purpose by the Company, as provided in Section 5.02, and the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor the Debt Security or Debt Securities of authorized denominations which the Debt Security Holder making the exchange shall be entitled to receive. Each agent of the Company appointed pursuant to Section 5.02 as a person authorized to register and register transfer of Debt Securities is sometimes herein referred to as a "Debt Security Registrar."

The Company shall keep, at an office or agency of the Company maintained for such purpose, as provided in Section 5.02, a register for each series of Debt Securities hereunder (the registers of all Debt Security Registrars being herein sometimes collectively referred to as the "Debt Security Register") in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Debt Securities and shall register the transfer of Debt Securities as provided in this Article Three. For avoidance of doubt, there shall only be one Debt Security Register for each series of Debt Securities. At all reasonable times, such Debt Security Register shall be open for inspection by the Trustee and any Debt Security Registrar other than the Trustee. Upon due presentment for registration of transfer of any Debt Security at any such office or agency, the Company shall execute and cause to be registered and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Debt Security or Debt Securities of the same series of authorized denominations for an equal aggregate principal amount. Registration or registration of transfer of any Debt Security by any Debt Security Registrar in the registry books maintained by such Debt Security Registrar, and delivery of such Debt Security, duly authenticated, shall be deemed to complete the registration or registration of transfer of such Debt Security. The Trustee is hereby appointed as Debt Security Registrar for each series of Debt Securities.

 

No Person shall at any time be appointed as or act as a Debt Security Registrar unless such Person is at such time empowered under applicable law to act as such and duly registered to act as such under and to the extent required by applicable law and regulations.

All Debt Securities presented to a Debt Security Registrar for registration of transfer shall be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and such Debt Security Registrar duly executed by the registered Holder or such Holder's attorney duly authorized in writing.

No service charge shall be made for any exchange or registration of transfer of Debt Securities, but the Company or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith.

The Company shall not be required to issue, exchange or register a transfer of (a) any Debt Securities of any series for a period of 15 days next preceding the mailing of a notice of redemption of Debt Securities of such series and ending at the close of business on the day of the mailing of a notice of redemption of Debt Securities of such series so selected for redemption, or (b) any Debt Securities selected, called or being called for redemption except, in the case of any Debt Security to be redeemed in part, the portion thereof not so to be redeemed.

All Debt Securities issued in exchange for or upon registration of transfer of Debt Securities shall be valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Debt Securities surrendered for such exchange or registration of transfer.

None of the Trustee, any agent of the Trustee, any paying agent or the Company will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Debt Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests.

Section 3.07 Mutilated, Destroyed, Lost or Stolen Debt Securities. In case any temporary or definitive Debt Security shall become mutilated or be destroyed, lost or stolen, the Company in its discretion may execute, and upon its request the Trustee shall authenticate and deliver, a new Debt Security, bearing a number, letter or other distinguishing mark not contemporaneously Outstanding, in exchange and substitution for the mutilated Debt Security, or in lieu of and in substitution for the Debt Security so destroyed, lost or stolen. In every case the applicant for a substituted Debt Security shall furnish to the Company and to the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and to the Trustee evidence to their satisfaction of the destruction, loss or theft, of such Debt Security and of the ownership thereof.

In the absence of notice to the Trustee or the Company that such Debt Security has been acquired by a bona fide purchaser, the Trustee shall authenticate any such substituted Debt Security and deliver the same upon any Company Request. Upon the issuance of any substituted Debt Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. In case any Debt Security which has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substituted Debt Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Debt Security) if the applicant for such payment shall furnish to the Company and to the Trustee such security or indemnity as may be required by them to save each of them harmless and, in case of destruction, loss or theft, evidence satisfactory to the Company and to the Trustee of the destruction, loss or theft of such Debt Security and of the ownership thereof.

Every substituted Debt Security issued pursuant to the provisions of this Section 3.07 by virtue of the fact that any Debt Security is destroyed, lost or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Debt Security shall be found at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Debt Securities duly issued hereunder. All Debt Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Debt Securities and shall preclude (to the extent permitted by law) any and all other rights or remedies with respect to the replacement or payment of negotiable instruments or other securities without their surrender.

Section 3.08 Payment of Interest; Interest Rights Preserved. Interest which is payable, and is punctually paid or duly provided for, on any Interest Payment Date, on any Debt Security, shall, unless otherwise provided in such Debt Security, be paid to the Person in whose name the Debt Security (or one or more Predecessor Debt Securities) is registered at the close of business on the Regular Record Date for such interest.

Unless otherwise stated in the form of Debt Security of a series, interest on the Debt Securities of any series shall be computed on the basis of a 360 day year comprised of twelve 30 day months.

Any interest on any Debt Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in Clause (a) or (b) below:

(a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names any such Debt Securities (or their respective Predecessor Debt Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Debt Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided.

 

Thereupon, the Company shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment and shall promptly notify the Trustee of such Special Record Date and cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of such Debt Securities, at such Holder's address as it appears in the Debt Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Debt Securities (or their respective Predecessor Debt Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (b).

(b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of that series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such payment shall be deemed practicable by the Trustee.

Subject to the foregoing provisions of this Section, each Debt Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Debt Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Debt Security.

Section 3.09 Persons Deemed Owners. The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name any Debt Security is registered as the owner of such Debt Security for the purpose of receiving payment of principal of, premium, if any, and (subject to Section 3.08) interest on, such Debt Security and for all other purposes whatsoever whether or not such Debt Security be overdue, and neither the Company, the Trustee, nor any agent of the Company or the Trustee shall be affected by notice to the contrary.

Section 3.10 Cancellation of Debt Securities Paid. All Debt Securities surrendered for the purpose of payment, redemption, exchange or registration of transfer or delivered in satisfaction in whole or in part of any sinking fund obligation shall, if surrendered to the Company or any agent of the Trustee or the Company under this Indenture, be delivered to the Trustee and promptly cancelled by it, or, if surrendered to the Trustee, shall be promptly cancelled by it, and no Debt Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Company may at any time deliver to the Trustee for cancellation any Debt Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Debt Securities previously authenticated hereunder which the Company has not issued and sold, and all Debt Securities so delivered shall be promptly cancelled by the Trustee. The Trustee shall dispose of cancelled Debt Securities in accordance with its customary procedures and upon Company Order, shall certify as to such cancellation.

Section 3.11 Currency and Manner of Payments. (a) With respect to Debt Securities denominated in Dollars or a Foreign Currency, the following payment provisions shall apply:

(1) Except as provided in subparagraph (a)(2) or in paragraph (c) of this Section 3.11, payment of principal of and premium, if any, on any Debt Securities will be made at the offices established pursuant to Section 5.02 by delivery of a check in the currency in which the Debt Security is denominated on the payment date against surrender of such Debt Security, and any interest on any Debt Security will be paid at such office by mailing a check in the currency in which the Debt Securities were issued to the Person entitled thereto at the address of such Person appearing on the Debt Security Register.

(2) Payment of the principal of and premium, if any, and interest on such Debt Security may also, subject to applicable laws and regulations and subject to surrender as aforesaid in the case of principal and premium, if any, be made at such other place or places as may be designated by the Company by any appropriate method.

(b) [RESERVED].

(c) If the Foreign Currency in which any of the Debt Securities are denominated ceases to be used both by the government of the country which issued such currency and for the settlement of transactions by public institutions of or within the international banking community, then with respect to each date for the payment of Foreign Currency occurring after the last date on which the Foreign Currency was so used (the "Conversion Date"), the Dollar shall be the currency of payment for use on each such Interest Payment Date. The Dollar amount to be paid by the Company to the Trustee and by the Trustee or any paying agent to the Holder of such Debt Securities with respect to such payment date shall be the Dollar Equivalent of the Foreign Currency as determined by the Currency Determination Agent in the manner provided in paragraph (d) below.

(d) The "Dollar Equivalent of the Foreign Currency" shall be determined by the Currency Determination Agent by converting the specified Foreign Currency into Dollars at the Market Exchange Rate as of the Conversion Date.

(e) The "Market Exchange Rate" shall mean, for any currency, the highest firm bid quotation for U.S. dollars received by the Currency Determination Agent at approximately 11:00 a.m., New York City time, on the second Business Day preceding the applicable payment date (or, if no such rate is quoted on such date, the last date on which such rate was quoted, or under the circumstances described in the foregoing paragraph (c), on the Conversion Date), from three recognized foreign exchange dealers in New York City selected by the Currency Determination Agent and approved by the Company (one of which may be the Currency Determination Agent) for the purchase by the quoting dealer, for settlement on such payment date, of the aggregate amount of such currency payable on such payment in respect of all Notes denominated in such currency.

(f) All decisions and determinations of the Currency Determination Agent regarding the Dollar Equivalent of the Foreign Currency and the Market Exchange Rate shall be in its sole discretion and shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding upon the Company and all Holders of the Debt Securities. In the event that the Foreign Currency ceases to be used both by the government of the country which issued such currency and for the settlement of transactions by public institutions of or within the international banking community, the Company, after learning thereof, will promptly give notice thereof to the Trustee and the Holders (in the manner provided in Section 15.03) specifying the Conversion Date.

(g) The Trustee shall be fully justified and protected in relying on and acting upon the information so received by it from the Company or the Currency Determination Agent and shall not otherwise have any duty or obligation to determine such information independently.

(h) If the principal of (and premium, if any) and interest on any Debt Securities is payable in a Foreign Currency and such Foreign Currency is not available for payment due to the imposition of exchange controls or other circumstances beyond the control of the Company, then the Company shall be entitled to satisfy its obligations to Holders under this Indenture by making such payment in Dollars on the basis of the Market Exchange Rate for such Foreign Currency on the latest date for which such rate was established on or before the date on which payment is due. Any payment made pursuant to this Section 3.11 in Dollars where the required payment is in a Foreign Currency shall not constitute a default or Event of Default under this Indenture.

Section 3.12 CUSIP Numbers. The Company in issuing the Debt Securities may use "CUSIP" numbers (if then generally in use), and, if so, the Trustee shall use "CUSIP" numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Debt Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Debt Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any changes in the "CUSIP" numbers.

ARTICLE 4

REDEMPTION OF DEBT SECURITIES; SINKING FUNDS

Section 4.01 Applicability of Article. The Company may reserve the right to redeem and pay before Stated Maturity all or any part of the Debt Securities of any series, either by optional redemption, sinking fund (mandatory or optional) or otherwise, by provision therefor in the form of Debt Security for such series on such terms as are specified in such form or the Board Resolution or Officers' Certificate delivered pursuant to Section 3.01 or the indenture supplemental hereto as provided in Section 3.01 with respect to Debt Securities of such series. Redemption of Debt Securities of any series shall be made in accordance with the terms of such Debt Securities and, to the extent that this Article does not conflict with such terms, in accordance with this Article.

Section 4.02 Notice of Redemption; Selection of Debt Securities. In case the Company shall desire to exercise the right to redeem all, or, as the case may be, any part of a series of Debt Securities pursuant to Section 4.01, the Company shall fix a date for redemption and the Company, or, at the Company's request, the Trustee in the name of and at the expense of the Company, shall mail a notice of such redemption at least 15 and not more than 45 days prior to the date fixed for redemption to the Holders of Debt Securities so to be redeemed as a whole or in part at their last addresses as the same appear on the Debt Security Register, provided, however, that notices of redemption may be sent more than 45 days prior to the date fixed for redemption if such notices are issued in connection with a defeasance of Debt Securities or satisfaction and discharge of the Indenture pursuant to Article 13 and, provided, further, however, that the Company shall have delivered to the Trustee, at least 45 days prior to the Redemption Date (or such shorter period as may be acceptable to the Trustee), an Officers' Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the next succeeding paragraph. Such mailing shall be by first class mail; provided, however, that so long as the Debt Securities of such series are represented by one or more Global Debt Securities, such notice shall be given in accordance with the procedures of the Depository therefor. The notice if mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, failure to give such notice by mail or any defect in the notice to the Holder of any Debt Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Debt Security.

Notice of redemption shall be given in the name of the Company and shall specify the date fixed for redemption, the Redemption Price at which Debt Securities of any series are to be redeemed, or if not then ascertainable, the manner of calculation thereof, the place of payment (which shall be at the offices or agencies to be maintained by the Company pursuant to Section 5.02), that payment of the Redemption Price will be made upon presentation and surrender of such Debt Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that on and after said date interest thereon or on the portions thereof to be redeemed will cease to accrue, and the Section of this Indenture or the paragraph or section of the Debt Securities pursuant to which Debt Securities will be redeemed. In case less than all Debt Securities of any series are to be redeemed, the notice of redemption shall also identify the particular Debt Securities to be redeemed as a whole or in part and shall state that the redemption is for the sinking fund, if such is the case. In case any Debt Security is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon surrender of such Debt Security, a new Debt Security or Debt Securities of such series in aggregate principal amount equal to the unredeemed portion thereof will be issued without charge to the Holder.

If Debt Securities of any series are to be redeemed, the Company shall give the Trustee notice, at least 45 days (or such shorter period acceptable to the Trustee) in advance of the date fixed for redemption, as to the aggregate principal amount of Debt Securities to be redeemed and as to the date fixed for redemption. Debt Securities may be redeemed in part in multiples equal to the minimum authorized denomination for Debt Securities of such series or any multiple thereof. Thereupon the Trustee shall select, in such manner as in its sole discretion it shall deem appropriate and fair, the Debt Securities or portions thereof to be redeemed, and shall as promptly as practicable notify the Company of the Debt Securities or portions thereof so selected; provided, however, if the Debt Securities of such series are represented by one or more Global Debt Securities, interests in such Debt Securities shall be selected for redemption by the Depository therefor in accordance with its customary procedures and the Trustee shall have no responsibilities with respect to such selection. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Debt Securities of any series shall relate, in the case of any Debt Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Debt Security which has been or is to be redeemed. In the case of any redemption of Debt Securities (a) prior to the expiration of any restriction on such redemption provided in the terms of such Debt Securities or elsewhere in this Indenture, or (b) pursuant to an election of the Company which is subject to a condition specified in the terms of such Debt Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers' Certificate evidencing compliance with such restriction or condition.

On or prior to the date fixed for redemption specified in the notice of redemption given as provided in this Section 4.02, the Company will deposit with the Trustee or with the paying agent an amount of money in the currency in which the Debt Securities of such series are payable sufficient to redeem on the date fixed for redemption all the Debt Securities so called for redemption at the appropriate Redemption Price, together with accrued interest to the date fixed for redemption.

The Trustee shall not mail any notice of redemption of any series of Debt Securities during the continuation of any default in payment of interest on any series of Debt Securities when due or of any Event of Default, except that where notice of redemption with respect to any series of Debt Securities shall have been mailed prior to the occurrence of such default or Event of Default, the Trustee shall redeem such Debt Securities provided funds are deposited with it for such purpose.

Section 4.03 Payment of Debt Securities Called for Redemption. If notice of redemption has been given as herein provided, the Debt Securities or portions of Debt Securities with respect to which such notice has been given shall become due and payable on the date and at the place stated in such notice at the applicable Redemption Price, together with interest accrued to the date fixed for redemption, and on and after said date (unless the Company shall default in the payment of such Debt Securities or portions thereof at the Redemption Price, together with interest accrued to said date) interest on the Debt Securities or portions of Debt Securities so called for redemption shall cease to accrue, and such Debt Securities and portions of Debt Securities shall be deemed not to be Outstanding hereunder and shall not be entitled to any benefit under this Indenture except to receive payment of the Redemption Price, together with accrued interest to the date fixed for redemption. On presentation and surrender of such Debt Securities at the place of payment in said notice specified, the said Debt Securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price, together with interest accrued thereon to the date fixed for redemption; provided, however, that any installments of interest becoming due on or prior to the date fixed for redemption shall be payable to the Holders of such Debt Securities, or one or more previous Debt Securities evidencing all or a portion of the same debt as that evidenced by such particular Debt Securities, registered as such on the relevant record dates according to their terms and the provisions of Section 3.08.

 

Upon presentation and surrender of any Debt Security redeemed in part only, with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder's attorney duly authorized in writing, the Company shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Debt Security or Debt Securities of the same series having the same interest rate and Stated Maturity and bearing interest from the same date, of any authorized denominations as requested by such Holder, in aggregate principal amount equal to the unredeemed portion of the Debt Security so presented and surrendered.

Section 4.04 Exclusion of Certain Debt Securities from Eligibility for Selection for Redemption. Subject to the procedures of the Depository in the case of any Global Debt Securities, Debt Securities shall be excluded from eligibility for selection for redemption if they are identified by registration and certificate number in a written statement signed by a Responsible Officer of the Company and delivered to the Trustee at least 45 days prior to the last date on which notice of redemption may be given as being owned of record and beneficially by, and not pledged or hypothecated by, either (a) the Company or (b) an entity specifically identified in such written statement as directly or indirectly controlling or controlled by or under direct or indirect common control with the Company.

Section 4.05 Provisions with Respect to any Sinking Funds. Unless the form or terms of any series of Debt Securities shall provide otherwise, in lieu of making all or any part of any mandatory sinking fund payment with respect to such series of Debt Securities in cash, the Company may at its option (a) deliver to the Trustee for cancellation any Debt Securities of such series theretofore acquired by the Company, or (b) receive credit for any Debt Securities of such series (not previously so credited) acquired by the Company and theretofore delivered to the Trustee for cancellation or redeemed pursuant to provisions for an optional redemption or optional sinking fund redemption, then Debt Securities so delivered or credited shall be credited at the applicable sinking fund Redemption Price with respect to the Debt Securities of such series.

On or before the 45th day next preceding each sinking fund Redemption Date, the Company will deliver to the Trustee a certificate signed by the Chief Financial Officer, any Vice President, the Treasurer or any Assistant Treasurer of the Company specifying (i) the portion of the mandatory sinking fund payment to be satisfied by deposit of cash in the currency in which the Debt Securities of such series are payable, by delivery of Debt Securities theretofore purchased or otherwise acquired by the Company (which Debt Securities shall accompany such certificate) and by credit for Debt Securities acquired by the Company and theretofore delivered to the Trustee for cancellation or redeemed by the Company pursuant to provisions for optional redemption or optional sinking fund redemption and stating that the credit to be applied has not theretofore been so applied and the basis for such credit and (ii) whether the Company intends to exercise its right, if any, to make an optional sinking fund payment, and, if so, the amount thereof. Such certificate shall also state that no Event of Default has occurred and is continuing. Such certificate shall be irrevocable, and upon its delivery, the Company shall be obligated to make the payment or payments therein referred to, if any, on or before the next succeeding sinking fund payment date. In case of the failure of the Company on or before the 45th day next preceding each sinking fund Redemption Date to deliver such certificate (or to deliver the Debt Securities specified in this paragraph), the sinking fund payment due on the next succeeding sinking fund payment date shall be paid entirely in cash (in the currency described above) and shall be sufficient to redeem the principal amount of Debt Securities as a mandatory sinking fund payment, without the option to deliver or credit Debt Securities as provided in the first paragraph of this Section 4.05 and without the right to make an optional sinking fund payment as provided herein.

If the sinking fund payment or payments (mandatory or optional) with respect to any series of Debt Securities made in cash (in the currency described above) shall exceed the minimum authorized denomination set forth in an Officers' Certificate pursuant to Section 3.01 or the equivalent in the currency in which the Debt Securities of such series are payable (or a lesser sum if the Company shall so request), unless otherwise provided by the terms of such series of Debt Securities, said cash shall be applied by the Trustee on the sinking fund Redemption Date with respect to Debt Securities of such series at the applicable sinking fund Redemption Price with respect to Debt Securities of such series, together with accrued interest, if any, to the date fixed for redemption, with the effect provided in Section 4.03. The Trustee shall select, in the manner provided in Section 4.02, for redemption on such sinking fund Redemption Date a sufficient principal amount of Debt Securities of such series to utilize said cash and shall thereupon cause notice of redemption of the Debt Securities of such series for the sinking fund to be given in the manner provided in Section 4.02 (and with the effect provided in Section 4.03) for the redemption of Debt Securities in part at the option of the Company. Debt Securities of any series which are identified by registration and certificate number in an Officers' Certificate at least 45 days prior to the sinking fund Redemption Date as being beneficially owned by, and not pledged or hypothecated by, the Company or an entity directly or indirectly controlling or controlled by or under direct or indirect common control with the Company shall be excluded from Debt Securities of such series eligible for selection for redemption. Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of Debt Securities of such series shall be added to the next cash sinking fund payment with respect to Debt Securities of such series received by the Trustee and, together with such payment, shall be applied in accordance with the provisions of this Section 4.05. Any and all sinking fund moneys with respect to Debt Securities of any series held by the Trustee at the maturity of Debt Securities of such series, and not held for the payment or redemption of particular Debt Securities of such series, shall be applied by the Trustee, together with other moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Debt Securities of such series at maturity.

The Trustee shall not convert any currency in which the Debt Securities of such series are payable for the purposes of such sinking fund application unless a Company Request is made, and any such conversion agreed to by the Trustee in response to such request shall be for the account and at the expense of the Company and shall not affect the Company's obligation to pay the Holders in the currency to which such Holder is entitled.

On or before each sinking fund Redemption Date provided with respect to Debt Securities of any series, the Company shall pay to the Trustee in cash in the currency described above a sum equal to all accrued interest, if any, to the date fixed for redemption on Debt Securities to be redeemed on such sinking fund Redemption Date pursuant to this Section 4.05.

 

ARTICLE 5

PARTICULAR COVENANTS OF THE COMPANY

Section 5.01 Payment of Principal, Premium and Interest. The Company will duly and punctually pay or cause to be paid (in the currency in which the Debt Securities of such series are payable) the principal of and premium, if any, and interest on each of the Debt Securities at the place (subject to Section 3.03), at the respective times and in the manner provided in each series of Debt Securities and in this Indenture.

Section 5.02 Offices for Notices and Payments. (a) So long as the Debt Securities of any series remain Outstanding, the Company will maintain at the Place of Payment, an office or agency where the Debt Securities may be presented for payment, an office or agency where the Debt Securities may be presented for registration of transfer and for exchange as provided in this Indenture, and an office or agency where notices and demands to or upon the Company in respect of the Debt Securities or of this Indenture may be served and shall give the Trustee written notice thereof and any changes in the location thereof. In case the Company shall at any time fail to maintain any such office or agency, or shall fail to give notice to the Trustee of any change in the location thereof, presentation and demand may be made and notice may be served in respect of the Debt Securities or of this Indenture at said office of the Trustee. The Company hereby appoints the Trustee as its agent for all of the foregoing purposes with respect to the Debt Securities of each series; provided that the Trustee shall not be an agent of the Company for purposes of service of legal process against the Company.

(b) In addition to the office or agency maintained by the Company pursuant to Section 5.02(a), the Company may from time to time designate one or more other offices or agencies where the Debt Securities may be presented for payment and presented for registration of transfer and for exchange in the manner provided in this Indenture, and the Company may from time to time rescind such designations, as the Company may deem desirable or expedient; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain such office and agency at the Place of Payment, for the purposes abovementioned. The Company will give to the Trustee prompt written notice of (i) any such designation or rescission thereof, and (ii) the location of any such office or agency outside the Place of Payment and of any change of location thereof.

Section 5.03 Appointments to Fill Vacancies in Trustee's Office. The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 8.10, a Trustee, so that there shall at all times be a Trustee hereunder.

Section 5.04 Provisions as to Paying Agent. (a) (1) Whenever the Company shall have one or more paying agents for any series of Debt Securities other than the Trustee, it will, on or before each due date of the principal of (and premium, if any) or interest on any Debt Securities of such series, deposit with a paying agent a sum sufficient to pay such amount becoming due, such sum to be held as provided by the Trust Indenture Act of 1939, and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

(2) The Company will cause each paying agent other than the Trustee to execute and deliver to the Trustee an instrument in which such paying agent shall agree with the Trustee, subject to the provisions of this Section, that such paying agent will: (i) comply with the provisions of the Trust Indenture Act of 1939 applicable to it as a paying agent and (ii) during the continuance of any default by the Company (or any other obligor upon any series of Debt Securities) in the making of any payment in respect of the Debt Securities of such series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such paying agent as such.

(b) If the Company shall act as its own paying agent, it will, on or prior to each due date of the principal of and premium, if any, or interest on Debt Securities of any series, set aside, segregate and hold in trust for the benefit of the Trustee and the Holders of such Debt Securities a sum sufficient to pay such principal and premium, if any, or interest so becoming due and will notify the Trustee of any failure to take such action and of any failure by the Company (or by any other obligor on such series of Debt Securities) to make any payment of the principal of and premium, if any, or interest on the Debt Securities when the same shall become due and payable.

(c) Anything in this Section 5.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a satisfaction and discharge of this Indenture with respect to any or all series of Debt Securities then Outstanding, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by the Company, or any paying agent hereunder, as required by this Section 5.04, such sums to be held by the Trustee upon the trusts herein contained.

(d) Anything in this Section 5.04 to the contrary notwithstanding, the agreement to hold sums in trust provided in this Section 5.04 is subject to Section 13.04.

Section 5.05 Certificate to Trustee. So long as the Debt Securities of any series remain Outstanding, the Company will deliver to the Trustee on or before 120 days after the end of each fiscal year an Officers' Certificate stating that such officer has reviewed the covenants of the Indenture with respect to each outstanding series of Debt Securities and, in the course of the performance by the signers of their duties as officers of the Company, they would normally have knowledge of any default by the Company in the performance or fulfillment or observance of any covenants or agreements contained herein during the preceding fiscal year, stating whether or not they have knowledge of any such default and, if so, specifying each such default of which the signers have knowledge and the nature thereof. The Officers' Certificate need not comply with Section 15.05. One of the signatories to this Officers' Certificate shall be the Company's principal executive officer, principal financial officer or principal accounting officer.

Section 5.06 Waivers of Covenants. Anything in this Indenture to the contrary notwithstanding, the Company may fail or omit, in respect of any series of Debt Securities, and in any particular instance, to comply with a covenant, agreement or condition contained in Section 5.05 (unless required to be complied with pursuant to Section 314(a)(4) of the Trust Indenture Act of 1939), or with any additional covenant, agreement or condition contained in a Board Resolution or Officers' Certificate establishing such series of Debt Securities, any indenture supplemental hereto applicable to such series or any Debt Security of such series (unless such Board Resolution, Officers' Certificate, or supplemental indenture provides otherwise) if the Company shall have obtained and filed with the Trustee before or after the time for such compliance the consent in writing of the Holders of more than 50% in aggregate principal amount of the Debt Securities of the series affected by such waiver at the time Outstanding, either waiving such compliance in such instance or generally waiving compliance with such covenant or condition, but no such waiver shall extend to or affect any obligation not expressly waived nor impair any right consequent thereon and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such covenant or condition shall remain in full force and effect.

ARTICLE 6

HOLDERS' LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

Section 6.01 Holders' Lists. The Company covenants and agrees that it will furnish or cause to be furnished to the Trustee, not more than 15 days after each Regular Record Date with respect to the Debt Securities of any series, and at such other times as the Trustee may request in writing, within 30 days after receipt by the Company of any such request, a list in such form as the Trustee may reasonably require of the names and addresses of the Holders of Debt Securities of such series as of a date not more than 15 days prior to the time such information is furnished; provided, however, that no such list with respect to any particular series of Debt Securities need be furnished at any such time if the Trustee is in possession thereof by reason of its acting as the Debt Security Registrar for such series designated under Section 3.06 or otherwise.

Section 6.02 Preservation and Disclosure of Lists. (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the Holders of Debt Securities contained in the most recent list furnished to it as provided in Section 6.01 or received by the Trustee in the capacity of the Debt Security Registrar (if so acting) under Section 3.06. The Trustee may destroy any list furnished to it as provided in Section 6.01 upon receipt of a new list so furnished.

(b) The rights of Holders to communicate with other Holders with respect to their rights under this Indenture or under the Debt Securities of any series or of all Debt Securities, and the corresponding rights and duties of the Trustee, shall be as provided by the Trust Indenture Act of 1939.

(c) Every Holder of Debt Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act of 1939.

Section 6.03 Reports by the Company. The Company agrees to file with the Trustee and the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act of 1939 at the times and in the manner provided pursuant to such Act; provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is so required to be filed with the Commission; provided further that any such information, documents or reports filed with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval (or EDGAR) system or any successor thereto shall be deemed to be filed with the Trustee. Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee's receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company's compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers' Certificates).

Section 6.04 Reports by the Trustee. (a) The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act of 1939 at the times and in the manner provided pursuant thereto. The interval between transmissions of reports to be transmitted at intervals shall be twelve months or such shorter time required by the Trust Indenture Act of 1939. If the Trust Indenture Act of 1939 does not specify the date on which a report is due, such report shall be due on December 15 of each year following the first issuance of Debt Securities and shall be as of a date not more than sixty (60) days prior thereto.

(b) A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which Debt Securities of any series are listed, with the Commission and with the Company. The Company will notify the Trustee when the Debt Securities of any series are listed on any stock exchange and of any delisting thereof.

ARTICLE 7

REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT

Section 7.01 Events of Default. "Event of Default", with respect to any series of Debt Securities, wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be 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), unless such event is either inapplicable to such series or it is specifically deleted or modified in the Board Resolution, Officers' Certificate or supplemental indenture under which such series of Debt Securities is issued or in the form of Debt Security for such series:

(a) default in the payment of any installment of interest upon any Debt Security of such series as and when the same shall become due and payable, and continuance of such default for a period of 30 days;

(b) default in the payment of the principal of and premium, if any, on any Debt Security of such series as and when the same shall become due and payable either at maturity, upon redemption, by declaration of acceleration or otherwise;

(c) default in the payment or satisfaction of any sinking fund payment or analogous obligation, if any, with respect to the Debt Securities of such series as and when the same shall become due and payable by the terms of the Debt Securities of such series, and continuance of such default for a period of 30 days;

 

 (d) failure on the part of the Company duly to observe or perform any of the covenants, warranties or agreements on the part of the Company in respect of the Debt Securities of such series in this Indenture (other than a covenant, warranty or agreement a default in whose performance or whose breach is specifically dealt with elsewhere in this Section) continued for a period of 90 days after the date on which written notice of such failure, specifying such failure and requiring the same to be remedied, shall have been given to the Company by the Trustee, by registered mail, or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Debt Securities of such series;

(e) if any event of default as defined in any mortgage, indenture or instrument under which there may be issued, or by which there may be secured or evidenced, any indebtedness of the Company, whether such indebtedness now exists or is hereafter created or incurred, happens and consists of default in the payment of more than $30,000,000 in principal amount of such indebtedness at the maturity thereof, after giving effect to any applicable grace period, or results in such Indebtedness in principal amount in excess of $30,000,000 becoming or being declared due and payable prior to the date on which it would otherwise become due and payable, and such default is not cured or such acceleration is not rescinded or annulled within a period of 30 days after the date on which written notice of such failure, specifying such failure and requiring the same to be remedied, shall have been given to the Company by the Trustee, by registered mail, or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Debt Securities of such series;

(f) the failure by the Company within 60 days to pay, bond or otherwise discharge any uninsured judgment or court order for the payment of money in excess of $30,000,000, which is not stayed on appeal or is not otherwise being appropriately contested in good faith;

(g) a decree or order by a court having jurisdiction in the premises shall have been entered adjudging the Company bankrupt or insolvent, or approving as properly filed a petition seeking reorganization of the Company under the Federal bankruptcy laws or any other similar applicable Federal or state law, and such decree or order shall have continued undischarged and unstayed for a period of 60 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver or liquidator or trustee or assignee or other similar official in bankruptcy or insolvency of the Company or of all or substantially all of its property, or for the winding up or liquidation of its affairs, shall have been entered, and such decree or order shall have continued undischarged and unstayed for a period of 60 days;

(h) the Company shall institute proceedings to be adjudicated voluntarily bankrupt, or shall consent to the filing of a bankruptcy proceeding against it, or shall file a petition or answer or consent seeking an arrangement or a reorganization under the Federal bankruptcy laws or any other similar applicable Federal or state law, or shall consent to the filing of any such petition, or shall consent to the appointment of a receiver or liquidator or trustee or assignee or other similar official in bankruptcy or insolvency of it or of all or substantially all of its property, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; or

 

 (i) any other Event of Default provided in the Board Resolution, Officers' Certificate or the supplemental indenture under which such series of Debt Securities is issued or in the form of Debt Security for such series;

then and in each and every such case, so long as such Event of Default with respect to any series of Debt Securities for which there are Debt Securities Outstanding occurs and is continuing (other than an Event of Default specified in clause (g) or (h) of this Section 7.01) and shall not have been remedied or waived to the extent permitted by the terms of this Indenture, unless the principal of all of the Debt Securities of such series shall have already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Debt Securities of such series, by notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal (or, if the Debt Securities of that series are Original Issue Discount Debt Securities, such portion of the principal amount as may be specified in the terms of that series) of all the Debt Securities of such series and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Debt Securities of such series contained to the contrary notwithstanding. If an Event of Default specified in clause (g) or (h) of this Section 7.01 occurs and is continuing, then the principal amount of (or, if the Debt Securities of that series are Original Issue Discount Debt Securities, such portion of the principal amount as may be specified in the terms thereof as due and payable upon acceleration) and any accrued and unpaid interest on that series shall immediately become due and payable without any declaration or other act on the part of the Trustee or any Holder. This provision, however, is subject to the condition that if, at any time after the principal of the Debt Securities of such series shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay in the currency in which the Debt Securities of such series are payable all matured installments of interest upon all of the Debt Securities and the principal of and premium, if any, on any and all Debt Securities of such series which shall have become due otherwise than by such declaration (with interest on overdue installments of interest to the extent that payment of such interest is enforceable under applicable law and on such principal and premium, if any, at the rate borne by the Debt Securities of such series or as otherwise provided in the form of Debt Security for such series, to the date of such payment or deposit) and all amounts due to the Trustee under Section 8.06, or provision deemed by the Trustee to be adequate shall have been made therefor, and any and all defaults under this Indenture, other than the nonpayment of principal of and accrued interest on Debt Securities of such series which shall have become due by such declaration, shall have been cured or shall have been waived in accordance with Section 7.07—then and in every such case the Holders of at least a majority in aggregate principal amount of the Debt Securities of such series then Outstanding, by written notice to the Company and to the Trustee, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default, or shall impair any right consequent thereon.

In case the Trustee or any Holders shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the Holders shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the Holders shall continue as though no such proceeding had been taken.

 

Section 7.02 Payment of Debt Securities Upon Default; Suit Therefor. The Company covenants that (a) in case default shall be made in the payment of any installment of interest upon any Debt Security of any series as and when the same shall become due and payable, and such default shall have continued for a period of 30 days, or (b) in case default shall be made in the payment of the principal of and premium, if any, on any Debt Security of any series as and when the same shall have become due and payable, whether at maturity of the Debt Security or upon redemption or by declaration or otherwise or (c) in case default shall be made in the making or satisfaction of any sinking fund payment or analogous obligation with respect to the Debt Securities of any series when the same becomes due by the terms of the Debt Securities of any series, and such default shall have continued for a period of 30 days—then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the Holders of any such series, the whole amount that then shall have become due and payable on any such Debt Securities for principal and premium, if any, or interest, or both, as the case may be, with interest upon the overdue principal and premium, if any, and (to the extent that payment of such interest is enforceable under applicable law) upon the overdue installments of interest at the rate borne by the Debt Securities of such series or as otherwise provided in the form of Debt Security of such series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee, its agents, attorneys and counsel, and any expenses or liabilities incurred and advances made by the Trustee, except compensation or advances arising, or expenses or liabilities incurred, as a result of the Trustee's gross negligence or bad faith.

Until such demand is made by the Trustee, the Company may pay the principal of and premium, if any, and interest on the Debt Securities of any series to the Persons entitled thereto, whether or not the principal of and premium, if any, and interest on the Debt Securities of such series are overdue.

In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor on such Debt Securities and collect, in the manner provided by law out of the property of the Company or any other obligor on such Debt Securities wherever situated, the moneys adjudged or decreed to be payable. If any Event of Default with respect to any series of Debt Securities occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Debt Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

 

In case there shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any other obligor on the Debt Securities of any series under the Federal bankruptcy laws or any other applicable law, or in case a receiver or trustee shall have been appointed for the property of the Company or such other obligor, or in the case of any other similar judicial proceedings relative to the Company or other obligor upon the Debt Securities of any series, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of the Debt Securities of such series shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section 7.02, shall be entitled and empowered by intervention in such proceedings or otherwise, (a) to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Debt Securities of such series, and, in case of any judicial proceedings, to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and of the Holders of the Debt Securities of such series allowed in such judicial proceedings relative to the Company or any other obligor on such Debt Securities, its or their creditors, or its or their property, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of any Debt Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute the same after the deduction of its charges and expenses; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the Holders of the Debt Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Holders, to pay to the Trustee such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred and advances made by the Trustee except compensation or advances arising, or expenses or liabilities incurred, as a result of the Trustee's gross negligence or bad faith.

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept, or adopt on behalf of any Holder any plan or reorganization, arrangement, adjustment or composition affecting the Debt Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder (except, as aforesaid, for the election of a trustee in bankruptcy or other Person performing similar functions) in any such proceeding.

All rights of action and of asserting claims under this Indenture, or under any of the Debt Securities of any series, may be enforced by the Trustee without the possession of any of such Debt Securities, or the production thereof on any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall be for the ratable benefit of the Holders of the Debt Securities of such series in respect of which such judgment has been recovered.

In any proceedings brought by the Trustee (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Debt Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Debt Securities parties to any such proceedings.

 

Section 7.03 Application of Moneys Collected by Trustee. Any moneys collected by the Trustee pursuant to Section 7.02 and any other money or property distributed in respect of the Company's obligations under this Indenture after an Event of Default shall be applied in the order following, at the date or dates fixed by the Trustee for the distribution of such moneys, upon presentation of the Debt Securities of such series, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid:

FIRST: To the payment of costs and expenses of collection and reasonable compensation to the Trustee, its agents, attorneys and counsel, and of all other expenses and liabilities incurred, and all advances made, by the Trustee except compensation or advances arising, or expenses or liabilities incurred, as a result of its gross negligence or bad faith, and any other amounts owing the Trustee under Section 8.06;

SECOND: In case the principal of the Debt Securities of such series shall not have become due and be unpaid, to the payment of interest on such Debt Securities, in the order of the maturity of the installments of such interest, with interest (to the extent that such interest has been collected by the Trustee) upon the overdue installments of interest at the rate borne by such Debt Securities, such payments to be made ratable to the Persons entitled thereto;

THIRD: In case the principal of the Debt Securities of such series shall have become due, by declaration or otherwise, to the payment of the whole amount then owing and unpaid upon such Debt Securities for principal and premium, if any, and interest, with interest on the overdue principal and premium, if any, and (to the extent that such interest has been collected by the Trustee) upon overdue installments of interest at the rate borne by such Debt Securities; and in case such moneys shall be insufficient to pay in full the whole amounts so due and unpaid upon such Debt Securities, then, to the payment of such principal and premium, if any, and interest without preference or priority of principal and premium, if any, over interest, or of interest over principal and premium, if any, or of any installment of interest over any other installment of interest, or of any Debt Security of such series over any other such Debt Security, ratably to the aggregate of such principal and premium, if any, and accrued and unpaid interest;

FOURTH: To the payment of any surplus then remaining to the Company, its successors or assigns, or to whomsoever may be lawfully entitled to receive the same.

Section 7.04 Proceedings by Holders. No Holder of any Debt Security of any series shall have any right by virtue of or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law or in bankruptcy or otherwise upon, under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless such Holder previously shall have given to the Trustee written notice of default and of the continuance thereof, as hereinbefore provided, and unless also the Holders of not less than 25% in aggregate principal amount of the Debt Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee for 60 days after its receipt of such notice, request and offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding (and no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 7.07), it being understood and intended, and being expressly covenanted by the taker and Holder of every Debt Security of every series with every other taker and Holder and the Trustee, that no one or more Holders of Debt Securities shall have any right in any manner whatever by virtue of or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder of such Debt Securities, or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders of Debt Securities.

Section 7.05 Proceedings by Trustee. In case of an Event of Default hereunder the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

Section 7.06 Remedies Cumulative and Continuing. All powers and remedies given by this Article Seven to the Trustee or to the Holders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of any other powers and remedies available to the Trustee or the Holders, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture, and no delay or omission of the Trustee or of any Holder to exercise any right or power accruing upon any default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence therein; and, subject to the provisions of Section 7.04, every power and remedy given by this Article Seven or by law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Holders.

Section 7.07 Direction of Proceedings and Waiver of Defaults by Majority of Holders. The Holders of a majority in aggregate principal amount of the Outstanding Debt Securities of any series shall have the right to direct the time, method, and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to the Debt Securities of such series by this Indenture; provided, however, that (subject to the provisions of Section 8.01) the Trustee shall have the right to decline to follow any such direction if the Trustee shall determine upon advice of counsel that the action or proceeding so directed may not lawfully be taken, if the Trustee has not been provided with indemnity or security satisfactory to it or if the Trustee in good faith shall determine that the action or proceeding so directed would involve the Trustee in personal liability or if the Trustee in good faith shall so determine that the actions or forbearances specified in or pursuant to such direction would be unduly prejudicial to the interests of Holders of the Debt Securities of all series not joining in the giving of said directions, it being understood that (subject to Section 8.01) the Trustee shall have no duty to ascertain whether or not such actions or forbearances are duly prejudicial to such Holders. The Trustee may take any other action deemed proper by the Trustee not inconsistent with such direction. Subject to Section 7.01, the Holders of a majority in aggregate principal amount of the Outstanding Debt Securities of any series may on behalf of the Holders of all the Debt Securities of such series waive any past default or Event of Default hereunder and its consequences except a default in the payment of principal of or premium, if any, or interest on such Debt Securities, or a default in the making of any sinking fund payment with respect to such Debt Securities. Upon any such waiver, the Company, the Trustee and the Holders of such Debt Securities shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. Whenever any default or Event of Default shall have been waived as permitted by this Section 7.07, said default or Event of Default shall for all purposes of the Debt Securities and this Indenture be deemed to have been cured and to be not continuing.

This Section 7.07 shall be in lieu of Sections 316(a)(1)(A) and 316(a)(1)(B) of the Trust Indenture Act of 1939 and such Sections 316(a)(1)(A) and 316(a)(1)(B) are hereby expressly excluded from this Indenture, as permitted by the Trust Indenture Act of 1939.

Section 7.08 Notice of Defaults. Within 90 days after the occurrence of any default hereunder with respect to the Debt Securities of any series, the Trustee shall transmit by first-class by mail, postage prepaid, to all Holders of Debt Securities of such series, as their names and addresses appear in the Debt Security Register, notice of such default hereunder actually known to a Responsible Officer of the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Debt Security of such series or in the payment of any sinking fund installment with respect to Debt Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders of Debt Securities of such series; and provided, further, that in the case of any default of the character specified in Section 7.01(d) with respect to Debt Securities of such series, no such notice to Holders shall be given until at least 60 days after the occurrence thereof. For the purpose of this Section, the term "default" means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Debt Securities of such series.

Section 7.09 Undertaking to Pay Costs. In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act of 1939; provided that neither this Section nor the Trust Indenture Act of 1939 shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company or the Trustee, and any provision of the Trust Indenture Act of 1939 to such effect is hereby expressly excluded from this Indenture, as permitted by the Trust Indenture Act of 1939.

Section 7.10 Unconditional Right of Holders to Receive Principal, Premium and Interest. Notwithstanding any other provision in this Indenture, the Holder of any Debt Security shall have the rights, which are absolute and unconditional, to receive payment of the principal of, premium, if any, and (subject to Section 3.08) interest on such Debt Security on the respective Stated Maturities expressed in such Debt Security (or in the case of redemption or repayment, on the date for redemption or repayment, as the case may be) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.

 

ARTICLE 8

CONCERNING THE TRUSTEE

Section 8.01 Duties and Responsibilities of Trustee.

(a) Except during the continuance of an Event of Default, (1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee and (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture, but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

(b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs.

(c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:

(1) this Subsection (c) shall not be construed to limit the effect of Subsection (a) of this Section 8.01;

(2) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts;

(3) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Debt Securities of any series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Debt Securities of such series; and

(4) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

 

 (d) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 8.01.

Section 8.02 Reliance on Documents, Opinions. Subject to the provisions of Section 8.01,

(a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note or other paper document believed by it to be genuine and to have been signed or presented by the proper party or parties;

(b) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by Company Request or Company Order (unless otherwise evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;

(c) the Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and reliance thereon;

(d) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders, pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which may be incurred by it in compliance with such request or direction;

(e) the Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture;

(f) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note, or other paper or document, unless requested in writing to do so by the Holders of not less than a majority in principal amount of such Debt Securities then Outstanding; provided, however, that the reasonable expenses of every such investigation shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; and provided, further, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding;

(g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys, and the Trustee shall not be liable or responsible for any misconduct, bad faith or negligence on the part of any agent or attorney appointed with due care by it hereunder;

 

(h) the Trustee shall not be deemed to have notice or be charged with knowledge of any default or Event of Default unless written notice of such default or Event of Default from the Company or any Holder is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Debt Securities and this Indenture;

(i) the rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder;

(j) the permissive rights of the Trustee enumerated herein shall not be construed as duties;

(k) in no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action;

(l) the Trustee may request that the Company deliver an Officers' Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers' Certificate may be signed by any person authorized to sign an Officers' Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded; and

(m) in no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

Section 8.03 No Responsibility for Recitals. The recitals contained herein and in the Debt Securities (except in the Trustee's certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Debt Securities of any series. The Trustee represents that it is duly authorized to execute and deliver this Indenture. None of the Trustee, the Authenticating Agent or any of their agents shall be accountable for the use or application by the Company of any Debt Securities or the proceeds of any Debt Securities authenticated and delivered by the Trustee hereunder.

Section 8.04 Trustee and Agents May Own Debt Securities. The Trustee, any paying agent, or any agent of the Trustee or the Company under this Indenture, in its individual or any other capacity, may become the owner or pledgee of Debt Securities of any series with the same rights it would have if it were not Trustee or such agent and, subject to Sections 8.08 and 8.13, if operative, may otherwise deal with the Company and receive, collect, hold, and retain collections from the Company with the same rights it would have if it were not the Trustee or such agent.

 

Section 8.05 Moneys to be Held in Trust. Subject to the provisions of Section 13.04, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. Neither the Trustee nor any paying agent shall be under any liability for interest on, or to invest, any moneys received by it hereunder except such as it may agree with the Company to pay thereon. So long as no Event of Default with respect to the Debt Securities of any series shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time upon the receipt of a Company Order.

Section 8.06 Compensation and Expenses of Trustee. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), and the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and all persons not regularly in its employ and any amounts paid by the Trustee to any Authenticating Agent pursuant to Section 8.14) except any such expense, disbursement or advance as may arise from its gross negligence or bad faith. The Company also covenants to indemnify the Trustee for, and to hold it harmless against, any loss, damage, claim, liability or expense incurred without gross negligence or bad faith on the part of the Trustee and arising out of or in connection with this Indenture, including the acceptance or administration of this trust, or the performance of its duties hereunder, including the current payment of all costs and expenses of defending itself against any claim of liability in the premises. The obligations of the Company under this Section 8.06 to compensate and indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of the Debt Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the Holders of particular Debt Securities. In addition to, but without prejudice to its other rights under this indenture or available to the Trustee under applicable law, when the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 7.01(g) or Section 7.01(h), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable Federal or state bankruptcy, insolvency or other similar law.

"Trustee" for purposes of this Section shall include any predecessor Trustee; provided, however, that the negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder.

The provisions of this Section shall survive the termination of this Indenture, the satisfaction and discharge of this Indenture and the resignation or removal of the Trustee.

 

Section 8.07 Officers' Certificate as Evidence. Subject to the provisions of Section 8.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers' Certificate conforming to the requirements of this Indenture delivered to the Trustee, and such Certificate, in the absence of gross negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken or omitted by it under the provisions of this Indenture upon the faith thereof.

Section 8.08 Conflicting Interest of Trustee. If the Trustee has or shall acquire any conflicting interest within the meaning of the Trust Indenture Act of 1939, the Trustee shall either eliminate such conflicting interest or resign in the manner provided by, and subject to the provisions of, the Trust Indenture Act of 1939 and this Indenture.

Section 8.09 Eligibility of Trustee. There shall at all times be a Trustee with respect to each series of Debt Securities hereunder which shall be a Person organized and doing business under the laws of the United States or any state or territory thereof or of the District of Columbia authorized under such laws to exercise trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination by Federal, state, territorial, or District of Columbia authority and willing to act as Trustee hereunder. If such Person publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 8.09, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee with respect to any series of Debt Securities shall cease to be eligible in accordance with the provisions of this Section 8.09, such Trustee shall resign immediately in the manner and with the effect specified in Section 8.10.

Section 8.10 Resignation or Removal of Trustee. (a) The Trustee may at any time resign with respect to any series of Debt Securities by giving written notice by first class mail of such resignation to the Company and to the Holders of such series of Debt Securities at their addresses as they shall appear on the Debt Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with respect to such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee with respect to such series shall have been so appointed and have accepted appointment within 45 days after the mailing of such notice of resignation to the Holders, the resigning Trustee may, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of such series of Debt Securities who has been a bona fide Holder of a Debt Security or Debt Securities of such series for at least six months may, subject to the provisions of Section 7.09, on behalf of such Holder and all others similarly situated, petition any such court for the appointment of a successor trustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint such successor trustee.

 

 (b) In case at any time any of the following shall occur:

(1) the Trustee shall fail to comply with the provisions of Section 8.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Debt Security or Debt Securities of such series for at least six months, unless the Trustee's duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act of 1939,

(2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.09 and shall fail to resign after written request therefor by the Company or by any such Holder of a Debt Security of such series, or

(3) the Trustee shall become incapable of acting with respect to any series of Debt Securities, or shall be adjudged bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;

then, in any such case, the Company may remove the Trustee with respect to such series and appoint a successor trustee for such series by Company Order, one copy of which Company Order shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Holder who has been a bona fide Holder of a Debt Security or Debt Securities of such series for at least six months may, on behalf of such Holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove such Trustee and appoint such successor trustee.

(c) The Holders of a majority in aggregate principal amount of the Outstanding Debt Securities of any series may at any time remove the Trustee with respect to such series by delivering to the Trustee so removed, to the successor trustee so appointed and to the Company the evidence provided for in Section 9.01 of the action in that regard taken by the Holders, and nominate a successor Trustee which shall be deemed appointed as successor Trustee unless within ten days after such nomination the Company objects thereto, in which case the Trustee so removed or any Holder of a Debt Security or Debt Securities of such series, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.10 provided, may petition any court of competent jurisdiction for an appointment of a successor Trustee with respect to such series.

(d) Any resignation or removal of the Trustee with respect to all or any series of Debt Securities and any appointment of a successor Trustee pursuant to any of the provisions of this Section 8.10 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 8.11.

Section 8.11 Acceptance by Successor Trustee. Any successor Trustee appointed as provided in Section 8.10 shall execute, acknowledge and deliver to the Company and to its predecessor Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor Trustee shall become effective with respect to all or any series as to which it is resigning as Trustee, and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder with respect to all or any such series, with like effect as if originally named as Trustee herein with respect to all or any such series; nevertheless, on the written request of the Company or of the successor Trustee, the Trustee ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of Section 8.06, execute and deliver an instrument transferring to such successor Trustee all the rights and powers of the Trustee with respect to all or any such series so ceasing to act. Upon request of any such successor Trustee, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor Trustee all such rights and powers. Any Trustee ceasing to act shall, nevertheless, retain a lien upon all property or funds held or collected by such Trustee with respect to all or any series as to which it is ceasing to act as Trustee, to secure any amounts, including indemnities, then due it pursuant to the provisions of Section 8.06.

No successor Trustee shall accept appointment as provided in this Section 8.11 unless at the time of such acceptance such successor Trustee shall be qualified under the provisions of Section 8.08 and eligible under the provisions of Section 8.09.

Upon acceptance of appointment by a successor Trustee with respect to all or any series of Debt Securities as provided in this Section 8.11, the Company shall mail notice of the succession of such Trustee hereunder to the Holders of Debt Securities of such series at their addresses as they shall appear on the Debt Security Register. If the Company fails to mail such notice within ten days after acceptance of appointment by the successor Trustee, the successor Trustee shall cause such notice to be mailed at the expense of the Company.

In case of the appointment hereunder of a successor Trustee with respect to the Debt Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Debt Securities of any applicable series shall execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Debt Securities of any series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee.

Section 8.12 Succession by Merger. Subject to Sections 8.08 and 8.09, any Person into which the Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any Person succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto.

 

In case at the time any successor to the Trustee by merger, conversion or consolidation shall succeed to the trusts created by this Indenture any of the Debt Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver such Debt Securities so authenticated; and in case at that time any of the Debt Securities shall not have been authenticated, any such successor to the Trustee may authenticate such Debt Securities either in the name of the predecessor Trustee or such successor Trustee; and in all such cases such certificate shall have the full force which it is anywhere in the Debt Securities or in this Indenture provided that the certificate of the Trustee shall have.

Section 8.13 Limitation on Rights of Trustee as a Creditor. If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Debt Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act of 1939 regarding the collection of claims against the Company (or any such other obligor).

Section 8.14 Authenticating Agents. There may be an Authenticating Agent or Authenticating Agents appointed by the Trustee from time to time with power to act on its behalf and subject to its direction in the authentication and delivery of any series of Debt Securities issued upon original issuance, exchange, transfer or redemption thereof as fully to all intents and purposes as though such Authenticating Agent (or Authenticating Agents) had been expressly authorized to authenticate and deliver such Debt Securities, and Debt Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as though authenticated by the Trustee hereunder. For all purposes of this Indenture, the authentication and delivery of Debt Securities by any Authenticating Agent pursuant to this Section 8.14 shall be deemed to be the authentication and delivery of such Debt Securities "by the Trustee", and whenever this Indenture provides that "the Trustee shall authenticate and deliver" Debt Securities or that Debt Securities "shall have been authenticated and delivered by the Trustee", such authentication and delivery by any Authenticating Agent shall be deemed to be authentication and delivery by the Trustee. Any such Authenticating Agent shall at all times be a Person organized and doing business under the laws of the United States of America or of any state or territory thereof or the District of Columbia, with a combined capital and surplus of at least $50,000,000 and authorized under such laws to act as an authenticating agent, duly registered to act as such, if and to the extent required by applicable law and subject to supervision or examination by Federal or state authority. If such Person publishes reports of its condition at least annually pursuant to law or the requirements of such authority, then for the purposes of this Section 8.14 the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 8.14, or to be duly registered if and to the extent required by applicable law and regulations, it shall resign immediately in the manner and with the effect herein specified in this Section 8.14.

Whenever reference is made in this Indenture to the authentication and delivery of Debt Securities of any series by the Trustee or the Trustee's certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by its Authenticating Agent appointed with respect to the Debt Securities of such series and a certificate of authentication executed on behalf of the Trustee by its Authenticating Agent appointed with respect to the Debt Securities of such series.

Any Person into which any Authenticating Agent may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, consolidation or conversion to which any Authenticating Agent shall be a party, or any Person succeeding to the authenticating agency business of any Authenticating Agent, shall be the successor of such Authenticating Agent hereunder, if such successor Person is otherwise eligible under this Section 8.14, without the execution or filing of any paper or any further act on the part of the parties hereto or such Authenticating Agent or such successor Person.

In case at the time such successor to any such agency shall succeed to such agency any of the Debt Securities shall have been authenticated but not delivered, any such successor to such Authenticating Agent may adopt the certificate of authentication of any predecessor Authenticating Agent and deliver such Debt Securities so authenticated; and in case at that time any of the Debt Securities shall not have been authenticated, any successor to any Authenticating Agent may authenticate such Debt Securities either in the name of any predecessor hereunder or in the name of the successor Authenticating Agent; and in all cases such certificate shall have the full force which it is anywhere in the Debt Securities or in this Indenture provided that the certificate of the predecessor Authenticating Agent shall have such force; provided, however, that the right to adopt the certificate of authentication of any predecessor Authenticating Agent or to authenticate Debt Securities in the name of any predecessor Authenticating Agent shall apply only to its successor or successors by merger, conversion or consolidation.

Any Authenticating Agent may at any time resign as Authenticating Agent with respect to any series of Debt Securities by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time terminate the agency of any Authenticating Agent with respect to any series of Debt Securities by giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible under this Section 8.14, the Trustee may, and shall, upon request of the Company, promptly use its best efforts to appoint a successor Authenticating Agent.

Upon the appointment, at any time after the original issuance of any of the Debt Securities, of any successor, additional or new Authenticating Agent, the Trustee shall give written notice of such appointment to the Company and shall at the expense of the Company mail notice of such appointment to all Holders of Debt Securities of such series as the names and addresses of such Holders appear on the Debt Security Register.

Any successor Authenticating Agent with respect to any series of Debt Securities upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as though originally named as an Authenticating Agent herein with respect to such series. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 8.14 and duly registered if and to the extent required under applicable law and regulations.

Any Authenticating Agent by the acceptance of its appointment with respect to any series of Debt Securities shall be deemed to have agreed with the Trustee that: (a) it will perform and carry out the duties of an Authenticating Agent as herein set forth with respect to such series, including the duties to authenticate and deliver Debt Securities when presented to it in connection with exchanges, registrations of transfer or redemptions thereof; (b) it will keep and maintain, and furnish to the Trustee from time to time as requested by the Trustee appropriate records of all transactions carried out by it as Authenticating Agent and will furnish the Trustee such other information and reports as the Trustee may reasonably require; (c) it is eligible for appointment as Authenticating Agent under this Section 8.14 and will notify the Trustee promptly if it shall cease to be so qualified; and (d) it will indemnify the Trustee against any loss, liability or expense incurred by the Trustee and will defend any claim asserted against the Trustee by reason of any acts or failures to act of the Authenticating Agent with respect to such series but it shall have no liability for any action taken by it at the specific written direction of the Trustee.

The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation and expenses for its services, and the Trustee shall have no liability for such payments.

The provisions of Sections 8.02(a), (b), (c), (e) and (f), 8.03, 8.04, 8.06 (insofar as it pertains to indemnification), 3.09, 9.01 and 9.02 shall bind and inure to the benefit of each Authenticating Agent to the same extent that they bind and inure to the benefit of the Trustee.

If an appointment with respect to one or more series is made pursuant to this Section 8.14, the Debt Securities of such series may have endorsed thereon, in addition to the Trustee's certificate of authentication, an alternate certificate of authentication in the following form:

This is one of the Debt Securities of the series designated therein issued under the within-mentioned Indenture.

 

	 	 	 
	

WILMINGTON TRUST, NATIONAL ASSOCIATION

 

	
As Trustee

	 	 
	
By:

	
 

	
 

	 	
 

	
as Authenticating Agent

	 	 
	
By:

	
 

	
 

	 	
 

	
as Authorized Officer

 

Section 8.15 Trustee's Application for Instructions from the Company. Any application by the Trustee for written instructions from the Company may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three Business Days after the date any officer of the Company is deemed to receive such application per Section 15.03, unless any such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted.

 

ARTICLE 9

CONCERNING THE HOLDERS

Section 9.01 Action by Holders. Whenever in this Indenture it is provided that the Holders of a specified percentage in aggregate principal amount of the Debt Securities of any series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action) the fact that at the time of taking any such action the Holders of such specified percentage of such series have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders of such series in person or by agent or proxy appointed in writing, or (b) by the record of the Holders of such series voting in favor thereof at any meeting of such Holders duly called and held in accordance with the provisions of Article Ten, or (c) by a combination of such instrument or instruments and any such record of such a meeting of Holders of such series. Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the "Act" of the Holders signing such instrument or instruments or so voting at any such meeting.

Section 9.02 Proof of Execution by Holders. Subject to the provisions of Sections 8.01, 8.02 and 10.05, proof of the execution of any instrument by a Holder or such Holder's agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The ownership of Debt Securities shall be provided by the Debt Security Register or by a certificate of the Debt Security Registrar with respect to a series of Debt Securities.

The record of any Holders' meeting shall be proved in the manner provided in Section 10.06.

Section 9.03 Company-Owned Debt Securities Disregarded. In determining whether the Holders of the requisite aggregate principal amount of Debt Securities of any series have given any request, demand, authorization, direction, notice, consent, or waiver under this Indenture, Debt Securities of such series which are owned by the Company or any other obligor upon such Debt Securities or any Affiliate of the Company or such other obligor (except in the case in which the Company or such other obligor or Affiliate owns all Debt Securities Outstanding under the Indenture, or all Outstanding Debt Securities of each such series, as the case may be, without regard to this proviso) shall be disregarded and deemed not to be Outstanding for the purpose of any such determinations; provided, however, that for the purposes of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent, or waiver only such Debt Securities which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Debt Securities so owned which have been pledged in good faith may be regarded as Outstanding notwithstanding this Section 9.03 if the pledgee shall establish to the satisfaction of the Trustee the right of the pledgee to act with respect to such Debt Securities and that the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers' Certificate listing and identifying all Debt Securities of a series, if any, known by the Company to be owned or held by or for the account of the Company or any other obligor on such Debt Securities or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on such Debt Securities; and, subject to the provisions of Section 8.01, the Trustee shall be entitled to accept such Officers' Certificates as conclusive evidence of the facts therein set forth and of the fact that all such Debt Securities not listed therein are Outstanding for the purpose of any such determination.

Section 9.04 Revocation of Consents; Future Holders Bound. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 9.01, of the taking of any action by the Holders of the percentage in aggregate principal amount of the Debt Securities of any series specified in this Indenture in connection with such action, any Holder of a Debt Security which is shown by the evidence to be included in the Debt Securities the Holders of which have consented to or are bound by consents to such action, may, by filing written notice with the Trustee at the Corporate Trust Office and upon proof of holding as provided in Section 9.02, revoke such action so far as concerns such Debt Security. Except as aforesaid any such action taken by the Holder of any Debt Security shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Debt Security and of any Debt Security issued on registration of transfer thereof or in exchange or substitution therefor, irrespective of whether or not any notation in regard thereto is made upon any such Debt Security. Any action taken by the Holders of the percentage in aggregate principal amount of the Debt Securities specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the Holders of all of the Debt Securities affected by such action.

ARTICLE 10

HOLDERS' MEETINGS

Section 10.01 Purposes of Meetings. A meeting of Holders of the Debt Securities of all or any series may be called at any time and from time to time pursuant to the provisions of this Article Ten for any of the following purposes:

(a) to give any notice to the Company or to the Trustee with respect to such series, or to give any directions to the Trustee, or to consent to the waiving of any default hereunder and its consequences, or to take any other action authorized to be taken by Holders pursuant to any of the provisions of Article Seven;

(b) to remove the Trustee and nominate a successor trustee pursuant to the provisions of Article Eight;

(c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section 11.02; or

(d) to take any other action authorized to be taken by or on behalf of the Holders of any specified aggregate principal amount of the Debt Securities of all or any series, as the case may be, under any other provision of this Indenture or under applicable law.

 

Section 10.02 Call of Meetings by Trustee. The Trustee may at any time call a meeting of Holders of Debt Securities of all or any series to take any action specified in Section 10.01, to be held at such time and at such place as the Trustee shall determine. Notice of every meeting of the Holders of Debt Securities of all or any series, setting forth the time and place of such meeting and in general terms the action proposed to be taken at such meeting, shall be mailed by the Trustee to Holders of Debt Securities of each series that may be affected by the action proposed to be taken at such meeting at their addresses as they shall appear on the Debt Security Register. Such notice shall be mailed not less than 20 nor more than 90 days prior to the date fixed for the meeting.

Section 10.03 Call of Meetings by Company or Holders. In case at any time the Company, pursuant to a resolution by the Board of Directors, or the Holders of at least 10% in aggregate principal amount of the Debt Securities then Outstanding of each series that may be affected by the action proposed to be taken shall have requested the Trustee to call a meeting of such Holders, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have mailed the notice of such meeting within 20 days after receipt of such request, then the Company or such Holders may determine the time and place for such meeting and may call such meeting to take any action authorized in Section 10.01, by mailing notice thereof as provided in Section 10.02.

Section 10.04 Qualifications for Voting. To be entitled to vote at any meeting of Holders of Debt Securities a person shall (a) be a Holder of one or more Debt Securities of a series affected by the action proposed to be taken or (b) be a Person appointed by an instrument in writing as proxy by a Holder of one or more such Debt Securities. The rights of Holders of Debt Securities to have their votes counted shall be subject to the provision in the definition of "Outstanding" in Section 1.01. The only Persons who shall be entitled to be present or to speak at any meeting of Holders of Debt Securities shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.

Section 10.05 Regulations. Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders of Debt Securities, in regard to proof of the holding of Debt Securities and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit. Except as otherwise permitted or required by any such regulation, the holding of Debt Securities shall be proved in the manner specified in Section 9.02 and the appointment of any proxy shall be proved in the manner specified in said Section 9.02 or by having the signature of the Person executing the proxy witnessed or guaranteed by any bank, broker or trust company.

The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders of Debt Securities as provided in Section 10.03, in which case the Company or the Holders of Debt Securities calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a secretary of the meeting shall be elected by vote of the Holders of a majority in aggregate principal amount of the Debt Securities represented at the meeting and entitled to vote.

 

Subject to the provisions of Section 9.03, at any meeting each Holder of a Debt Security of a series entitled to vote at such meeting or proxy shall be entitled to one vote for each $1,000 principal amount of Debt Securities of such series held or represented by such Holder; provided, however, that no vote shall be cast or counted at any meeting in respect of any Debt Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote except as a Holder of Debt Securities of such series or proxy therefor. Any meeting of Holders of Debt Securities duly called pursuant to the provisions of Section 10.02 or 10.03 may be adjourned from time to time and the meeting may be held as so adjourned without further notice.

At any meeting of Holders of Debt Securities, the presence of Persons holding or representing Debt Securities in an aggregate principal amount sufficient to take action upon the business for the transaction of which such meeting was called shall be necessary to constitute a quorum; but, if less than a quorum be present, the Persons holding or representing a majority of the Debt Securities represented at the meeting may adjourn such meeting with the same effect, for all intents and purposes, as though a quorum had been present.

Section 10.06 Voting. The vote upon any resolution submitted to any meeting of Holders of Debt Securities shall be by written ballots on which shall be subscribed the signatures of the Holders of Debt Securities entitled to vote at such meeting or of their representatives by proxy, and the letter or letters, serial number or numbers or other distinguishing marks of the Debt Securities held or represented by each such Holder. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of Holders of Debt Securities shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was mailed as provided in Section 10.02. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting.

Any record so signed and verified shall be conclusive evidence of the matters therein stated.

Without limiting the generality of the foregoing, a Holder, including the Depository that is the Holder of a Global Debt Security, may make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and the Depository that is the Holder of a Global Debt Security may provide its proxy or proxies to the beneficial owners of interests in any such Global Debt Security through such depositary's standing instructions and customary practices.

Section 10.07 No Delay of Rights by Meeting. Nothing contained in this Article Ten shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders of Debt Securities of any or all series or any rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to the Holders of Debt Securities under any of the provisions of this Indenture or of the Debt Securities.

 

ARTICLE 11

SUPPLEMENTAL INDENTURES

Section 11.01 Supplemental Indentures without Consent of Holders. The Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act of 1939 as in force at the date of the execution thereof) for one or more of the following purposes:

(a) to evidence the succession of another Person to the Company, or successive successions, and the assumption by the successor Person of the covenants, agreements and obligations of the Company pursuant to Articles Five and Twelve hereof;

(b) to add to the covenants of the Company such further covenants, restrictions, conditions or provisions as the Board of Directors shall consider to be for the protection of the Holders of Debt Securities of any or all series, and to make the occurrence, or the occurrence and continuance, of a default in any of such additional covenants, restrictions, conditions or provisions a default or an Event of Default with respect to such series permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth; provided, however, that in respect of any such additional covenant, restriction or condition, such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may provide for an immediate enforcement upon such default or may limit the remedies available to the Trustee upon such default;

(c) to cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective or inconsistent with any other provision contained herein or in any supplemental indenture or to make any changes hereto that are required by law;

(d) to convey, transfer, assign, mortgage or pledge any property to or with the Trustee;

(e) to make such other provisions in regard to matters or questions arising under this Indenture as shall not adversely affect the interests of the Holders of the Debt Securities and to make any change that would provide additional rights or benefits to the Holders of Debt Securities of any or all series or that does not adversely affect the legal rights under this Indenture of any such Holder of Debt Securities;

(f) to evidence and provide for the acceptance of appointment by another Person as a successor Trustee hereunder with respect to one or more series of Debt Securities and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to Section 8.11;

(g) to modify, amend or supplement this Indenture in such a manner as to permit the qualification of any indenture supplemental hereto under the Trust Indenture Act of 1939 as then in effect, except that nothing herein contained shall permit or authorize the inclusion in any indenture supplemental hereto of the provisions referred to in Section 316(a)(2) of the Trust Indenture Act of 1939;

 

 (h) to provide for the issuance under this Indenture of Debt Securities in coupon form (including Debt Securities registrable as to principal only) and to provide for exchangeability of such Debt Securities with Debt Securities of the same series issued hereunder in fully registered form and to make all appropriate changes for such purpose;

(i) to change or eliminate any of the provisions of this Indenture, provided, however, that any such change or elimination shall become effective only when there is no Debt Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such provision; or

(j) to establish the form of the Debt Securities of a series and to provide for the issuance of Debt Securities of a series, as permitted by Section 3.01, and to set forth the terms thereof.

Upon receipt of the documents specified in Section 11.05, the Trustee is hereby required to join with the Company in the execution of any such supplemental indenture, to make any further appropriate agreements and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated to enter into any such supplemental indenture which affects the Trustee's own rights, duties or immunities under this Indenture or otherwise.

Any supplemental indenture authorized by the provisions of this Section 11.01 may be executed by the Company and the Trustee without the consent of the Holders of any of the Debt Securities at the time Outstanding, notwithstanding any of the provisions of Section 11.02.

Section 11.02 Supplemental Indentures with Consent of Holders. With the consent (evidenced as provided in Section 9.01) of the Holders of greater than 50% in aggregate principal amount of the Outstanding Debt Securities of each series affected by such supplemental indenture (each such series voting as a single and separate class), by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the Debt Securities of each series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holders of all of the Outstanding Debt Securities of each series affected, (a) change the Stated Maturity of the principal of, or any premium or installment of interest on, any Debt Security of such series or make the principal thereof or interest or premium thereon payable in any coin or currency other than that provided in the Debt Securities of such series; (b) reduce the principal amount of, or the rate, or modify the calculation of such rate, of interest on, or any premium payable upon the redemption of, any Debt Security of such series; (c) reduce the amount of the principal of any Original Issue Discount Debt Security that would be due and payable upon a declaration of acceleration of the maturity thereof or the amount thereof provable in bankruptcy; (d) change the redemption provisions of any Debt Security in a manner adverse to the rights of the Holders thereof or adversely affect the right of repayment at the option of any Holder of any Debt Security of such series; (e) change the Place of Payment or the coin or currency in which the principal of, any premium or interest on any Debt Security of such series is payable; (f) impair the right to institute suit for the enforcement of any payment on or after the Stated Maturity of any Debt Security of such series or, in the case of redemption, on or after the Redemption Date or, in the case of repayment at the option of any Holder, on or after the repayment date; (g) make any change that adversely affects the right to convert or exchange any Debt Security into or for common shares or preferred shares or other securities, cash or property in accordance with its terms, (h) amend Sections 5.02, 5.03 and 5.04 in any manner that is materially adverse to the rights of Holders of any series of Debt Securities or (i) reduce the percentage of Debt Securities of such series, the Holders of which are required to: (i) consent to any supplemental indenture, (ii) rescind and annul a declaration that the Debt Securities of such series are due and payable as a result of the occurrence of an Event of Default, (iii) waive any past Event of Default and its consequences, or (iv) waive compliance with the provisions of this Indenture or with any additional covenant, agreement or condition contained in a Board Resolution or Officers' Certificate establishing such series of Debt Securities, any indenture supplemental hereto applicable to such series or any Debt Security of such series.

Upon the Trustee's receipt of a Company Request, accompanied by a copy of a Board Resolution certified by its Secretary or Assistant Secretary authorizing the execution of any such supplemental indenture and the documents specified in Section 11.05, and upon the filing with the Trustee of evidence of the consent of Holders of Debt Securities as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee's own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture.

A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Debt Securities, or which modifies the rights of the Holders of Debt Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Debt Securities of any other series.

It shall not be necessary for the consent of the Holders of Debt Securities under this Section 11.02 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof.

Section 11.03 Effect of Supplemental Indentures. Upon the execution of any supplemental indenture pursuant to the provisions of this Article Eleven, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitation of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders of Debt Securities shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

 

Section 11.04 Notation on Debt Securities. Debt Securities authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article Eleven may bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company or the Trustee shall so determine, new Debt Securities of any series so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared and executed by the Company, authenticated by the Trustee and delivered in exchange for the Outstanding Debt Securities of such series.

Section 11.05 Evidence of Compliance of Supplemental Indenture to be Furnished Trustee. The Trustee, subject to the provisions of Sections 8.01 and 8.02, shall receive, and shall be fully protected in relying upon, an Officers' Certificate and an Opinion of Counsel stating that any supplemental indenture executed pursuant hereto complies with the requirements of this Article Eleven and is authorized and permitted by this Indenture.

ARTICLE 12

CONSOLIDATION, MERGER, SALE AND CONVEYANCE

Section 12.01 Company May Consolidate on Certain Terms. Nothing contained in this Indenture or in any of the Debt Securities shall prevent any consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company), or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance or lease of all or substantially all of the property of the Company to any other Person (whether or not affiliated with the Company) authorized to acquire and operate the same; provided, however, and the Company hereby covenants and agrees, that any such consolidation, merger, sale, conveyance or lease shall be upon the condition that (a) immediately after such consolidation, merger, sale, conveyance or lease, the Person (whether the Company or such other Person) formed by or surviving any such consolidation or merger, or to which such sale, conveyance or lease shall have been made, shall not be in default in the performance or observance of any of the terms, covenants and conditions of this Indenture to be kept or performed by the Company; and (b) the due and punctual payment of the principal of and premium, if any, and interest on all of the Debt Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed or observed by the Company, shall be expressly assumed, by supplemental indenture satisfactory in form to the Trustee, executed and delivered to the Trustee by the Person (if other than the Company) formed by such consolidation, or into which the Company shall have been merged, or by the Person which shall have acquired or leased such property.

Section 12.02 Successor Entity to be Substituted. In case of any such consolidation, merger, sale, conveyance or lease and upon the assumption by the successor Person, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of and premium, if any, and interest on all of the Debt Securities and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to performed or observed by the Company, such successor Person shall succeed to and be substituted for the Company, with the same effect as if it had been named herein as the party of the first part, and (except in the event of a conveyance by way of lease) the predecessor Person shall be relieved of any further obligation under this Indenture and the Debt Securities.

 

In case of any such consolidation, merger, sale, conveyance or lease such changes in phraseology and form (but not in substance) may be made in the Debt Securities thereafter to be issued as may be appropriate.

Section 12.03 Officers' Certificate and Opinion of Counsel to Be Given to the Trustee. The Trustee, subject to Sections 8.01 and 8.02, shall receive an Officers' Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale conveyance or lease and any such assumption complies with the provisions of this Article Twelve and that all conditions precedent herein provided relating to such transactions have been complied with.

ARTICLE 13

SATISFACTION, DISCHARGE AND DEFEASANCE OF INDENTURE

Section 13.01 Satisfaction, Discharge and Legal Defeasance of Debt Securities of any Series. The Company shall be deemed to have paid and discharged the entire indebtedness on all the Debt Securities of a series, the provisions of this Indenture (except as to (x) the rights of Holders of Debt Securities of such series to receive, from the money, in the currency required, and Government Obligations deposited with the Trustee pursuant to Section 13.02(a) or the interest and principal received by the Trustee in respect of such Government Obligations, payment of the principal of (and premium, if any) and any installment of principal of (and premium, if any) or interest on such Debt Securities on the Stated Maturities thereof or upon the Redemption Dates for Debt Securities required to be redeemed pursuant to any mandatory sinking fund or analogous provisions relating to Debt Securities of that series or pursuant to any call for redemption relating to Debt Securities of that series, (y) the Company's rights and obligations with respect to such Debt Securities under Sections 3.06, 3.07, 5.01, 5.02, 5.03, 5.04, 8.06, 8.10, 8.11, 13.03 and 13.04, and (z) the rights, powers, trusts, duties and immunities of the Trustee with respect to the Debt Securities of such series) as it relates to such Debt Securities shall no longer be in effect, and the Trustee, at the expense of the Company, shall, upon Company Request, execute such instruments reasonably requested by the Company acknowledging the same if:

(a)     (1) all Debt Securities of such series therefor authenticated and delivered (other than (A) Debt Securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.07 and (B) Debt Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Sections 13.03 and 13.04) have been delivered to the Trustee for cancellation;

(2) the Company has paid or caused to be paid in the currency required all other sums payable under this Indenture in respect of the Debt Securities of such series, including all amounts owing to the Trustee under Section 8.06; and

(3) the Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided for relating to the satisfaction of the entire indebtedness of all Debt Securities of any such series and the discharge of the Indenture as it relates to such Debt Securities have been complied with; or

 

 (b)     (1) all such Debt Securities of such series not theretofore delivered to the Trustee for cancellation (A) have become due and payable, or (B) will become due and payable at their Stated Maturity within one year, or (C) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense of the Company;

(2) the condition described in paragraph (a) of Section 13.02 has been satisfied; and

(3) the conditions described in paragraphs (a)(2) and (a)(3) of this Section 13.01 have been satisfied; or

(c) (1) the conditions referred to in Section 13.02 and paragraph (a)(2) of this Section 13.01 have been satisfied; and

(2) the Company has delivered to the Trustee an opinion of a nationally-recognized independent tax counsel confirming that the Company shall have received from, or there shall have been published by, the United States Internal Revenue Service a ruling, or since the date of this Indenture there has been a change in the applicable Federal income tax law, in either case, to the effect that, and based thereon such opinion of counsel will confirm that, Holders of the Debt Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and the defeasance contemplated by this paragraph (c) of this Section 13.01 and will be subject to Federal income tax on the same amounts and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred.

Section 13.02 Covenant Defeasance of Debt Securities of any Series. The provisions of this Indenture (except as to (x) the rights of Holders of Debt Securities of any series to receive, from the money, in the currency required, and Government Obligations deposited with the Trustee pursuant to paragraph (a) below or the interest and principal received by the Trustee in respect of such Government Obligations, payment of the principal of (and premium, if any) and any installment of principal of (and premium, if any) or interest on such Debt Securities on the Stated Maturities thereof or upon the Redemption Dates for Debt Securities required to be redeemed pursuant to any mandatory sinking or analogous provisions relating to Debt Securities of that series or pursuant to any call for redemption relating to Debt Securities of that series; (y) the Company's rights and obligations with respect to such Debt Securities under Sections 3.06, 3.07, 5.01, 5.02, 5.03, 5.04, 6.01, Article Seven (other than subsection (d) of Section 7.01, to the extent relating to the covenants defeased hereby), Sections 8.06, 8.10, 8.11, 13.03, and 13.04; and (z) the rights, powers, trusts, duties and immunities of the Trustee with respect to the Debt Securities of such series) as it relates to Debt Securities of any series shall no longer be in effect, and the Trustee, at the expense of the Company shall, upon Company Request, execute such instruments reasonably requested by the Company acknowledging the same if:

(a) the Company has irrevocably (subject to Section 13.04) deposited or caused to be deposited with the Trustee as trust funds in trust and specifically pledged as security for, and dedicated solely to, the benefit of the Holders of Debt Securities of such series (1) Dollars or Foreign Currency, as applicable, in an amount, or (2) Government Obligations which through the payment of interest and principal in respect thereof in accordance with their terms will provide on or before the due date of any payment in respect of such series of Debt Securities funds in an amount, or (3) a combination thereof, sufficient, after payment of all Federal, state and local taxes in respect thereof payable by the Trustee, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, which opinion need only be provided if Government Obligations shall have been deposited, to pay and discharge the principal of (and premium, if any) and each installment of principal (and premium, if any) and interest on the Outstanding Debt Securities of that series to the Stated Maturity of such principal or installment of principal or interest or to the Redemption Dates for Debt Securities required to be redeemed pursuant to any mandatory sinking fund or analogous provisions relating to Debt Securities of that series or pursuant to any call for redemption relating to Debt Securities of that series on each day on which such payments are due and payable in accordance with the terms of the Indenture and such Debt Securities;

(b) no Event of Default or event which with notice or lapse of time would become an Event of Default shall have occurred and be continuing on the date of the deposit referred to in paragraph (a) of this Section 13.02 or, insofar as an Event of Default described in paragraph (g) or (h) of Section 7.01 are concerned, at any time during the period ending on the 91st day after the date of such deposit or, if longer, ending on the day following the expiration date of the longest preference period applicable to the Company in respect of the deposit (and this condition will not be deemed satisfied until the expiration of such period; provided, however, that should this condition fail to be satisfied on or before such 91st day, the Trustee shall promptly, upon satisfactory receipt of evidence of such failure, return such deposit to the Company);

(c) the interest of the Holders in such deposit shall have been duly perfected under the applicable provisions of the applicable Uniform Commercial Code;

(d) such defeasance shall not (A) cause the Trustee to have a conflicting interest as defined in Section 8.08 or for purposes of the Trust Indenture Act of 1939 with respect to any securities of the Company or (B) result in the trust arising from such deposit to constitute, unless it is qualified as, a regulated investment company under the Investment Company Act of 1940, as amended;

(e) such defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound;

(f) the Company has delivered to the Trustee an opinion of counsel of a nationally-recognized independent tax counsel confirming that the Holders of the Debt Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and the defeasance contemplated by this Section 13.02 and will be subject to Federal income tax on the same amounts and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; and

 

 (g) the Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided relating to the defeasance contemplated by this Section have been complied with.

Section 13.03 Application of Trust Funds; Indemnification. (a) Subject to the provisions of Section 13.04, all money and Government Obligations deposited with the Trustee pursuant to Sections 13.01 or 13.02, and all money received by the Trustee in respect of Government Obligations deposited with the Trustee, shall be held in trust and applied by it, in accordance with the provisions of the Debt Securities and this Indenture, to the payment, either directly or through any paying agent (including the Company acting as its own paying agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money and Government Obligations have been deposited with or received by the Trustee as contemplated by Sections 13.01 or 13.02.

(b) The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against Government Obligations deposited pursuant to Sections 13.01 or 13.02 or the interest and principal received in respect of such obligations, other than any such tax, fee or other charge payable by or on behalf of Holders. The Company shall be entitled to prompt notice of an assessment or the commencement of any proceeding for which indemnification may be sought hereunder and, at its election, to contest such assessment or to participate in, assume the defense of, or settle such proceeding.

(c) The Trustee shall deliver or pay to the Company from time to time upon Company Request any Government Obligations or money held by it as provided in Sections 13.01 or 13.02 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, which opinion need only be provided if Government Obligations shall have been deposited, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such obligations or money were deposited or received.

Section 13.04 Return of Unclaimed Moneys. Any moneys deposited with or paid to the Trustee or any paying agent for payment of the principal of and premium, if any, or interest on Debt Securities and not applied but remaining unclaimed by the Holders of Debt Securities for two years after the date upon which the principal of and premium, if any, or interest on such Debt Securities, as the case may be, shall have become due and payable, shall be repaid to the Company by the Trustee or such paying agent on Company Request; and the Holder of any of the Debt Securities entitled to receive such payment shall thereafter look only to the Company for any payment thereof and all liability of the Trustee or such paying agent with respect to such moneys shall thereupon cease.

Section 13.05 Reinstatement. If the Trustee is unable to apply any money or Government Obligations in accordance with Sections 13.01 or 13.02 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company's obligations under this Indenture and the Debt Securities shall be revived and reinstated as though no deposit had occurred pursuant to Sections 13.01 or 13.02 until such time as the Trustee is permitted to apply all such money or Government Obligations in accordance with Sections 13.01 or 13.02;

 

provided that, if the Company has made any payment of principal of or interest on the Debt Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Debt Securities to receive such payment from the money or Government Obligations held by the Trustee.

ARTICLE 14

IMMUNITY OF INCORPORATORS, STOCKHOLDERS,

OFFICERS AND DIRECTORS

Section 14.01 Indenture and Debt Securities Solely Obligations of the Company. No recourse under or upon any obligation, covenant or agreement of this Indenture, any supplemental indenture, or of any Debt Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, organizer, stockholder, member, owner, officer, director, manager or employee, as such, past, present or future, of the Company or any Subsidiary or of any predecessor or successor Person, either directly or through the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely obligations of the Company, and that no such personal liability whatever shall attach to, or is or shall be incurred by, any incorporator, organizer, stockholder, member, owner, officer, director, manager or employee, as such, of the Company or of any predecessor or successor Person, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture, or in any of the Debt Securities or implied thereby; and that any and all such personal liability, either at common law or in equity or by constitution or statute of, and any and all such rights and claims against, every such incorporator, organizer, stockholder, member, owner, officer, director, manager or employee, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Debt Securities or implied thereby, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of such Debt Securities.

ARTICLE 15

MISCELLANEOUS PROVISIONS

Section 15.01 Provisions Binding on Successors of the Company. All of the covenants, stipulations, promises and agreements in this Indenture contained by the Company shall bind its successors and assigns whether so expressed or not.

Section 15.02 Indenture for Sole Benefit of Parties and Holders of Debt Securities. Nothing in this Indenture or in the Debt Securities, expressed or implied, shall give or be construed to give to any Person, firm or corporation, other than the parties hereto, any agent of the Trustee or the Company under this Indenture and the Holders of the Debt Securities, any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions being, subject to the provisions of Articles Twelve and Fourteen, for the sole benefit of the parties hereto, any agent of the Trustee or the Company under this Indenture and the Holders of the Debt Securities.

Section 15.03 Addresses for Notices. Any notice or demand which by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders of Debt Securities on the Company may be given or served by being deposited, registered or certified mail postage prepaid, in a post office letter box in the United States addressed (until another address is filed by the Company with the Trustee) to the Company, Kingstone Companies, Inc., 15 Joys Lane, Kingston, New York 12401, Telecopier No.: (845) 853-1890, Attention: Barry B. Goldstein, with a copy to Certilman Balin Adler Hyman, LLP , Telecopier No.: (516) 296-7111, Attention: Fred Skolnik, Esq. Any notice, direction, request or demand by any Holder of a Debt Security or the Company to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the Trustee, addressed to the attention of its Corporate Trust Department. Any notice, report or other instrument required by any of the provisions of this Indenture to be given by the Trustee to the Holders of Debt Securities of any or all series shall be deemed to have been sufficiently given, for all purposes, when mailed by first class mail.

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such electronic instructions or directions, subsequent to the transmission thereof, shall provide the originally executed instructions or directions to the Trustee in a timely manner and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party providing such instructions or directions. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee's reliance upon and compliance with such instructions or directions notwithstanding that such instructions or directions conflict or are inconsistent with a subsequent written instruction or direction or if the subsequent written instruction or direction is never received. The party providing instructions or directions by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods, as aforesaid, agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk of interception and misuse by third parties.

Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his address as it appears in the Debt Security Register, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.

Notwithstanding any other provision of this Indenture or any Security, where this Indenture or any Security provides for notice of any event (including any notice of redemption or purchase) to a Holder of a Global Debt Security (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depository pursuant to the standing instructions from the Depository.

Section 15.04 Contract; Waiver of Trial by Jury. This Indenture and the Debt Securities shall for all purposes be construed in accordance with and governed by the laws of the State of New York. EACH OF THE COMPANY, THE TRUSTEE, AND THE HOLDERS HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE DEBT SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

Section 15.05 Evidence of Compliance with Conditions Precedent. Upon any request to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officers' Certificate stating that all conditions precedent, if any (including any covenant, compliance with which constitutes a condition precedent) provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such document is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished.

Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include (a) a statement that the Person making such certificate or opinion has read such covenant or condition; (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (c) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable such Person to express an informed opinion as to whether or not such covenant or condition has been complied with; and (d) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.

Section 15.06 Legal Holidays. In any case where the date of maturity of interest on or principal of or premium, if any, on any series of Debt Securities or the date fixed for redemption or repayment of any Debt Security or Debt Securities will be a legal holiday or a day on which banking institutions are legally authorized or obligated to close in New York, New York or any other location where a paying agent appointed pursuant to Section 5.02 is located, then payment of such interest on or principal of and premium, if any, on such Debt Securities need not be made on such date but may be made on the next succeeding day that is not a day in such location that is either a legal holiday or a day on which banking institutions are legally authorized or obligated to close, with the same force and effect as if made on such date of maturity or the date fixed for redemption or repayment and no interest shall accrue on such payment for the period from and after such prior date.

Section 15.07 Trust Indenture Act of 1939 to Control. If any provision hereof limits, qualifies or conflicts with the duties imposed by any of Sections 310 through 317 of the Trust Indenture Act of 1939, by the operation of Section 318(c) thereof, such imposed duties shall control, except as, and to the extent, expressly excluded from this Indenture, as permitted by the Trust Indenture Act of 1939. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act of 1939 that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be.

 

Section 15.08 Table of Contents, Headings. The table of contents and the titles and headings of the articles and sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

Section 15.09 Determination of Principal Amount. In determining whether the Holders of the requisite principal amount of Outstanding Debt Securities of any series have given any request, demand, authorization, direction, notice, consent or waiver hereunder, or whether sufficient funds are available for redemption or for any other purpose, (a) the principal amount of an Original Issue Discount Debt Security that shall be deemed to be Outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the maturity thereof pursuant to Section 7.01, (b) the principal amount of any Debt Securities denominated in a Foreign Currency that shall be deemed to be Outstanding for such purposes shall be determined by converting the Foreign Currency into Dollars at the Market Exchange Rate as of the date of such determination and (c) the principal amount of any Indexed Debt Security that shall be deemed to be Outstanding for such purposes shall be the amount of the principal face amount of such Indexed Debt Security at original issuance, unless otherwise provided in or pursuant to this Indenture.

Section 15.10 Execution in Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be an original and such counterparts shall together constitute but one and the same instrument. hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions hereinabove set forth.

 

[Remainder of page intentionally left blank; signature page follows]

IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed by their respective officers thereunto duly authorized, all as of the day year first above written.

KINGSTONE COMPANIES, INC.

By: _____________________________

Name:

Title:

WILMINGTON TRUST,

NATIONAL ASSOCIATION, as

Trustee

By: _____________________________

Name:

Title:

 

 

 

[Signature Page to Indenture]EX-10.1

 Exhibit 10.1 

FIFTH AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

THIS FIFTH AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of December 18,
2017, is among DARLING INGREDIENTS INC., a Delaware corporation (the “Parent Borrower”), the other Loan Parties (as defined in the Credit Agreement referred to below) party hereto, each of the Lenders which are parties hereto, and
JPMORGAN CHASE BANK, N.A., as administrative agent (the “Administrative Agent”). 
 RECITALS: 

Reference is made to that certain Second Amended and Restated Credit Agreement dated as of January 6, 2014 (as amended, restated, amended
and restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”), among the Parent Borrower, the other Borrowers party thereto, the Lenders party thereto from time to time, the Administrative Agent
and the other agents party thereto. 
 The Borrowers, the Administrative Agent, the Required Lenders party hereto and each Term B Lender
continuing as such after the Amendment and consenting hereto by executing and delivering a Lender Consent to Amendment in the form of Exhibit A hereto, now desire to amend the Credit Agreement as herein set forth. 

NOW, THEREFORE, in consideration of the promises herein contained and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows effective as of the date hereof unless otherwise indicated: 

ARTICLE 1. 
 DEFINITIONS

 Section 1.1. Definitions. Capitalized terms used in this Amendment, to the extent not otherwise defined herein, shall
have the same meanings as in the Credit Agreement, as amended hereby. 
 ARTICLE 2. 

AMENDMENTS 

Section 2.1. Amendments. (a) The Credit Agreement is hereby amended as set forth hereto on Annex I (with stricken text
indicated textually in the same manner as the following example: stricken text and added text indicated textually in the same
manner as the following example: double-underlined text). 

(b) After giving effect to the Amendment, the Term B Loans are deemed to be held by the Lenders as set forth in Annex II hereto (and,
with respect to the Term B Loans, Schedule 2.01 is deemed replaced thereby). Any modifications to such amounts are deemed to have been effected by assignment automatically pursuant to this Amendment, and not subject to any limitations set forth in
Section 10.04 of the Credit Agreement. 

 ARTICLE 3. 

REPRESENTATIONS AND WARRANTIES 

Section 3.1. Representations and Warranties. The Borrowers represent and warrant that: 

(a) at the time of and immediately after giving effect to this Amendment and any extension of credit to be made on the Fifth Amendment Date (as
defined below), the representations and warranties of each Loan Party set forth in the Loan Documents are true and correct in all material respects with the same force and effect as if such representations and warranties had been made on and as of
such date except to the extent that such representations and warranties relate specifically to another date; 
 (b) at the time of and
immediately after giving effect to this Amendment and any extension of credit to be made on the Fifth Amendment Date, no Default has occurred and is continuing; 

(c) the execution, delivery and performance of this Amendment and the transactions contemplated hereby are within each Borrower’s
organizational power and have been duly authorized by all necessary corporate or other organizational action. This Amendment has been duly executed and delivered by each Borrower and constitutes a legal, valid and binding obligation of such Borrower
(as the case may be), enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium, capital impairment, recognition of judgments, recognition of choice of law, enforcement of judgments or other
laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law; 

(d) the execution, delivery and performance of this Amendment: (a) does not require any consent or approval of, registration or filing
with, or any other action by, any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect and (ii) for immaterial consents, approvals, registrations, filing or other actions, (b) will not
violate (i) any applicable law or regulation or (ii) in any material respect, the charter, by-laws or other organizational documents of the Parent Borrower or any of its Restricted Subsidiaries or
any order of any Governmental Authority binding on such Person, (c) will not violate or result in a default under any material indenture, agreement or other instrument binding upon the Parent Borrower or any of its Restricted Subsidiaries or
its assets, or give rise to a right thereunder to require any payment to be made by the Parent Borrower or any of its Restricted Subsidiaries, and (d) will not result in the creation or imposition of any Lien on any asset of the Parent Borrower
or any of its Restricted Subsidiaries, except Liens created under and Liens permitted by the Loan Documents, except to the extent such violation or default referred to in clause (b)(i) or (c) above could not reasonably be expected
to result in a Material Adverse Effect. 
 ARTICLE 4. 

CONDITIONS 

Section 4.1. Conditions. This Amendment shall become effective as of the first date (the “Fifth Amendment Date”)
when each of the following conditions shall have been satisfied: 
 (a) the Administrative Agent (or its counsel) shall have
received from each party hereto (including the requisite Lenders) either (i) a counterpart of this Amendment signed on behalf of such party or (ii) written evidence reasonably satisfactory to the Administrative Agent (which may include
telecopy, portable document format (.pdf) or email transmission of a signed signature page of this Amendment) that such party has signed a counterpart of this Amendment; 

(b) no Default or Event of Default shall have occurred and be continuing or shall result from any extension of credit requested
to be made on the Fifth Amendment Date; 
 (c) the Administrative Agent shall have received a certificate, dated the Fifth
Amendment Date and signed by a Responsible Officer of the Parent Borrower, confirming compliance with the conditions set forth in clause (b) of this Section 4.1 and that each of the representations and warranties made
by any Loan Party contained in Section 3.1 above shall be true and correct on and as of the Fifth Amendment Date after giving effect to the Amendment and to any extension of credit requested to be made on the Fifth
Amendment Date with the same effect as though such representations and warranties had been made on and as of such date; 

  
 2 

 (d) to the extent invoiced at least one (1) Business Day prior to the Fifth
Amendment Date, the Administrative Agent shall have received all fees and other amounts due and payable to it or its Affiliates on or prior to the Fifth Amendment Date, including, to the extent invoiced, reimbursement or payment of all of such
Persons’ reasonable out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or paid by any Loan Party
hereunder or under any other Loan Document; 
 (e) the Administrative Agent shall have received a written opinion or opinions
(addressed to the Administrative Agent and the Lenders and dated the Fifth Amendment Date) of counsel for the Loan Parties covering such matters relating to the Loan Parties and the Loan Documents as of the Fifth Amendment Date as are customary for
financings of this type. The Parent Borrower hereby requests such counsel to deliver such opinions; 
 (f) the Administrative
Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of each Loan Party party hereto (other than the Subsidiary
Borrowers), the authorization of the Transactions to be consummated in connection with the execution and delivery hereof and any other legal matters relating to the Loan Parties party hereto (other than the Subsidiary Borrowers), the Loan Documents
or such Transactions as are customary for financings of this type, all in form and substance reasonably satisfactory to the Administrative Agent and its counsel; 

(g) the Administrative Agent shall have received, at least 3 days prior to the Fifth Amendment Date, all documentation and
other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act, with respect to the Loan Parties as of the Fifth Amendment Date that has
been reasonably requested by the Administrative Agent at least 10 days prior to the Fifth Amendment Date; 
 (h) all actions
necessary to establish that the Administrative Agent will have a perfected first priority security interest in the Collateral (subject to Liens permitted under the Credit Agreement as amended hereby); and 

(i) the Administrative Agent shall have received, for the account of the Term B Lenders immediately prior to the Amendment, all
accrued interest and fees on the Term B Loans outstanding as of the Fifth Amendment date, and if applicable, the Term B Lenders shall have received any payments of principal on the Term B Loans from the other applicable Term B Lenders to affect the
provisions of Section 2(b) hereto. 
 ARTICLE 5. 

MISCELLANEOUS 

Section 5.1. Confirmation of Guarantees and Security Interests. By signing this Amendment, each Loan Party party hereto hereby
confirms that (a) the obligations of such Loan Party under the Credit Agreement as modified hereby and the other Loan Documents (i) are entitled to the benefits of the guarantees and the security interests set forth or created in the
relevant Guaranty Agreements, the relevant Security Documents delivered prior to the date hereof and the other Loan Documents, and (ii) constitute Obligations for purposes of the Credit Agreement, the relevant Guaranty Agreements and the U.S.

  
 3 

 
Security Agreement and all other relevant Security Documents delivered prior to the date hereof and (b) notwithstanding the effectiveness of the terms hereof, the relevant Guaranty
Agreements, the relevant Security Documents delivered prior to the date hereof and the other Loan Documents are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects. Each Loan Party party hereto
(a) hereby ratifies and confirms that all Liens granted, conveyed, or assigned to the Administrative Agent by such Person pursuant to each relevant Loan Document delivered prior to the date hereof to which it is a party remain in full force and
effect, are not released or reduced, and continue to secure full payment and performance of the Obligations, as may be extended, increased or otherwise modified hereby and (b) as collateral security for the Obligations (as defined in the U.S.
Security Agreement), grants to the Agent (as defined in the U.S. Security Agreement) for the benefit of the Secured Parties a lien on and security interest in, and right of set-off against, and acknowledges
and agrees that the Agent has and shall continue to have until the Date of Full Satisfaction for the benefit of the Secured Parties a continuing lien on and security interest in, and right of set-off against,
all right, title, and interest of such Loan Party, whether now owned or existing or hereafter created, acquired or arising, in and to all of the Collateral (as defined in the U.S. Security Agreement). It is the intention of each Loan Party party
hereto and the Administrative Agent, and each Loan Party party hereto and the Administrative Agent acknowledge and agree, that this Amendment to the Credit Agreement and any modifications or amendments to the other Loan Documents contemplated hereby
shall not constitute a novation of any rights or obligations of any party under the Credit Agreement and/or the other Loan Documents for the purpose of any applicable law. 

Section 5.2. Ratifications. The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms
and provisions set forth in the Credit Agreement and except as expressly modified and superseded by this Amendment, the terms and provisions of the Credit Agreement and the other relevant Loan Documents delivered prior to the date hereof are
ratified and confirmed and shall continue in full force and effect. The Parent Borrower, each other Loan Party party hereto, the Lenders party hereto and the Administrative Agent agree that the Credit Agreement as amended hereby and the other
relevant Loan Documents delivered prior to the date hereof shall continue to be legal, valid, binding and enforceable in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium, capital
impairment, recognition of judgments, recognition of choice of law, enforcement of judgments or other laws affecting creditors rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in law or
equity. For all matters arising prior to the effective date of this Amendment, the terms of the Credit Agreement (as unmodified by this Amendment) shall control and are hereby ratified and confirmed. 

Section 5.3. Reference to Credit Agreement. Any reference to the Credit Agreement contained in any Loan Documents, including the
Credit Agreement and any and all other agreements, documents, or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement as amended hereby, shall mean a reference to the
Credit Agreement, as amended hereby. This Amendment is a “Loan Document” as defined in the Credit Agreement. For purposes of determining withholding Taxes imposed under FATCA, from and after the Fifth Amendment Date, the Lenders and the
Borrowers agree that the Administrative Agent shall treat the Credit Agreement as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation
Section 1.1471-2(b)(2)(i). 
 Section 5.4. Severability. Any provision of this
Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of
the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

  
 4 

 Section 5.5. Applicable Law. This Amendment shall be construed in accordance with and
governed by the law of the State of New York. 
 Section 5.6. Successors and Assigns. This Amendment is binding upon and shall
inure to the benefit of the Lenders, the Administrative Agent, each Loan Party party hereto and their respective successors and assigns, except that the Loan Parties may not assign or transfer any of their rights or obligations hereunder except in
compliance with the Credit Agreement, as amended hereby. 
 Section 5.7. Counterparts. This Amendment may be executed in
counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. THIS AMENDMENT EMBODIES THE FINAL, ENTIRE AGREEMENT AMONG
THE PARTIES RELATING TO THE SUBJECT MATTER HEREOF AND SUPERSEDES ANY AND ALL PREVIOUS COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS, WHETHER ORAL OR WRITTEN, RELATING TO THE SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED OR VARIED
BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES HERETO. This Amendment 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 the Borrowers, each Domestic Subsidiary Loan Party, each of the Required Lenders and each Term B Lender
continuing as such after giving effect to the Amendment. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or in “pdf’, “.tif” or similar format by electronic mail shall be effective as
delivery of a manually executed counterpart of this Amendment. 
 Section 5.8. Effect of Waiver. No failure or delay by the
Administrative Agent, the Issuing Bank or any Lender in exercising any right or power under any Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. 

Section 5.9. Headings. Article and Section headings used herein are for convenience of reference only, are not part of this
Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment. 
 [Signature Pages to
Follow] 

  
 5 

 Executed as of the date first written above. 

 

			
	BORROWERS:
	
	DARLING INGREDIENTS INC.
		
	By:	 	 /s/ Brad Phillips

	Name:	 	Brad Phillips
	Title:	 	Vice President and Treasurer
	
	 DARLING INTERNATIONAL CANADA
INC.

		
	By:	 	 /s/ John F. Sterling

	Name:	 	John F. Sterling
	Title:	 	 Executive Vice President-
 General
Counsel

	
	 DARLING INTERNATIONAL NL

HOLDINGS B.V.

		
	By:	 	 /s/ John F. Sterling

	Name:	 	John F. Sterling
	Title:	 	Special Proxy Holder
	
	 DARLING INGREDIENTS

INTERNATIONAL HOLDING B.V.

		
	By:	 	 /s/ John F. Sterling

	Name:	 	John F. Sterling
	Title:	 	Special Proxy Holder
	
	DARLING INGREDIENTS GERMANY HOLDING GMBH
		
	By:	 	 /s/ John F. Sterling

	Name:	 	John F. Sterling
	Title:	 	Special Proxy Holder

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	GUARANTORS:
	
	CRAIG PROTEIN DIVISION, INC.
	DARLING AWS LLC
	 DARLING GLOBAL HOLDINGS
INC.

	DARLING NATIONAL LLC
	DARLING NORTHSTAR LLC
	EV ACQUISITION, INC.
	GRIFFIN INDUSTRIES LLC
	TERRA HOLDING COMPANY
	 TERRA RENEWAL SERVICES,
INC.

		
	By:	 	 /s/ Brad Phillips

	Name:	 	Brad Phillips
	Title:	 	Vice President and Treasurer
	
	 ROUSSELOT DUBUQUE INC.
 ROUSSELOT
INC.

		
	By:	 	 /s/ Stephen Smith

	Name:	 	Stephen Smith
	Title:	 	Chief Financial Officer, Treasurer and Director of Finance
	
	SONAC USA LLC
		
	By:	 	 /s/ Stephen Smith

	Name:	 	Stephen Smith
	Title:	 	Vice President – Finance, Treasurer
	
	ROUSSELOT PEABODY INC.
		
	By:	 	 /s/ Stephen Smith

	Name:	 	Stephen Smith
	Title:	 	Chief Financial Officer and Treasurer

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	 JPMORGAN CHASE BANK, N.A

as Administrative Agent and as a Lender

		
	By:	 	 /s/ Gregory T. Martin

	Name:	 	Gregory T. Martin
	Title:	 	Authorized Signer

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	JPMORGAN CHASE BANK, N.A., TORONTO BRANCH
		
	By:	 	 /s/ Michael N. Tam

	Name:	 	Michael N. Tam
	Title:	 	Senior Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	BANK OF MONTREAL
		
	By:	 	 /s/ Joan Murphy

	Name:	 	Joan Murphy
	Title:	 	Director

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	BANK OF MONTREAL
		
	By:	 	 /s/ Sean E. Gallaway

	Name:	 	Sean E. Gallaway
	Title:	 	Director

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	BANK OF MONTREAL, LONDON BRANCH
		
	By:	 	 /s/ Tom Woolgar

	Name:	 	Tom Woolgar
	Title:	 	Managing Director
	
	BANK OF MONTREAL, LONDON BRANCH
		
	By:	 	 /s/ Scott Matthews

	Name:	 	Scott Matthews
	Title:	 	Managing Director

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	COMPASS BANK (D.B.A. BBVA COMPASS)
		
	By:	 	 /s/ Kevin Wisel

	Name:	 	Kevin Wisel
	Title:	 	Senior Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Allison W. Connally

	Name:	 	Allison W. Connally
	Title:	 	Senior Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	BANK OF AMERICA, N.A., CANADA BRANCH
		
	By:	 	 /s/ Medina Sales de Andrade

	Name:	 	Medina Sales de Andrade
	Title:	 	Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	TD BANK, N.A.
		
	By:	 	 /s/ Alan Garson

	Name:	 	Alan Garson
	Title:	 	Senior Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	CITIBANK, N.A.
		
	By:	 	 /s/ Bradley C. Peters

	Name:	 	Bradley C. Peters
	Title:	 	Director

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	 COÓPERATIEVE RABOBANK U.A., NEW YORK

BRANCH

		
	By:	 	 /s/ Claire Laury

	Name:	 	Claire Laury
	Title:	 	Executive Director
		
	By:	 	 /s/ David Vernon

	Name:	 	David Vernon
	Title:	 	Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	BANK OF THE WEST
		
	By:	 	 /s/ Stephen R. Staples

	Name:	 	Stephen R. Staples
	Title:	 	Managing Director

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	COMERICA BANK
		
	By:	 	 /s/ Jason D. Baker

	Name:	 	Jason D. Baker
	Title:	 	Senior Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	PNC BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Divyang Shah

	Name:	 	Divyang Shah
	Title:	 	Senior Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	PNC BANK CANADA BRANCH
		
	By:	 	 /s/ Caroline Stade

	Name:	 	Caroline Stade
	Title:	 	Senior Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	SUMITOMO MITSUI BANKING CORPORATION
		
	By:	 	 /s/ James Weinstein

	Name:	 	James Weinstein
	Title:	 	Managing Director

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	FIFTH THIRD BANK
		
	By:	 	 /s/ Gregory L. Cannon

	Name:	 	Gregory L. Cannon
	Title:	 	Director

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	HSBC BANK USA, N.A.
		
	By:	 	 /s/ Wadie Christopher Habiby

	Name:	 	Wadie Christopher Habiby
	Title:	 	Senior Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	COBANK, ACB
		
	By:	 	 /s/ Robert Prickett

	Name:	 	Robert Prickett
	Title:	 	Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	REGIONS BANK
		
	By:	 	 /s/ Claire Harrison

	Name:	 	Claire Harrison
	Title:	 	Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	BRANCH BANKING AND TRUST COMPANY
		
	By:	 	 /s/ Jim Wright

	Name:	 	Jim Wright
	Title:	 	Assistant Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	GOLDMAN SACHS LENDING PARTNERS
		
	By:	 	 /s/ Chris Lam

	Name:	 	Chris Lam
	Title:	 	Authorized Signatory

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 
			
	COMMERCE BANK
		
	By:	 	 /s/ Blair McCoy

	Name:	 	Blair McCoy
	Title:	 	Vice President

 [Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

  
 [CONSENTS AND SIGNATURES OF
TERM B LENDERS HELD WITH 
 ADMINISTRATIVE AGENT] 

[Signature Page to Fifth Amendment to Second Amended and Restated Credit Agreement] 

 EXHIBIT A 

Consent to Amendment No. 5 

This CONSENT TO AMENDMENT NO. 5 (this “Consent”), is referred to in, and is a signature page to, the Fifth Amendment to the
Second Amended and Restated Credit Agreement, dated as of December 18, 2017 (the “Amendment”) (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Credit
Agreement”), among Darling Ingredients Inc., a Delaware corporation, the other Loan Parties party thereto, the Lenders party thereto from time to time, the Administrative Agent and the other agents party thereto. Unless otherwise defined
herein, terms used but not defined herein have the meanings provided in the Credit Agreement or the Amendment. 
 Term B Lenders 

The undersigned Term B Lender hereby irrevocably and unconditionally (i) approves of the Amendment, the modifications to the Credit Agreement and the Term
B Loans affected thereby (the Term B Loans, as modified pursuant to the Amendment, the “New Term B Loans”) and (ii) consents as follows, 

(check ONE of the boxes below): 
 Cashless Roll:

  

	 	☐	to convert 100% of the outstanding principal amount of Term B Loans held by such Lender into New Term B Loans in a like principal amount. 

Exit and Recommit: 
  

	 	☐	to have 100% of the outstanding principal amount of Term B Loans held by such Lender prepaid on the Fifth Amendment Date and purchase by assignment a like principal amount of New Term B Loans.

 IN WITNESS WHEREOF, the undersigned has caused this Consent to be executed and delivered by a duly authorized officer. 

 

			
	                                    
                                         
       ,
	as a Lender (type name of the legal entity)

 
			
		
	By:	 	  

		 	Name:
		 	Title:
	
	If a second signature is necessary:
		
	By:	 	  

		 	Name:
		 	Title:

 Annex I – Redline Credit Agreement 

[to be attached] 

 Annex II – Term B Loans 

[held with Administrative Agent] 

 Execution Version 

ANNEX I 
 MARKED VERSION REFLECTING
CHANGES 
 PURSUANT TO THE FOURTHFIFTH AMENDMENT TO THE 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

ADDED TEXT SHOWN
UNDERSCORED 

DELETED TEXT SHOWN STRIKETHROUGH 
 SECOND AMENDED AND RESTATED CREDIT
AGREEMENT1 
 dated as of January 6, 2014 

among 
  

	
	The Other Borrowers Party Hereto                    

                    From Time to
Time                    

 The Lenders Party Hereto 

and 
 JPMORGAN CHASE BANK, N.A.,

 as Administrative Agent, 

GOLDMAN SACHS BANK USA, 
 BANK OF
MONTREAL, 
 acting under its trade name BMO CAPITAL MARKETS, 

BBVA COMPASS BANK, 
 COOPERATIEVE
CENTRAL RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK 
 NEDERLAND” NEW YORK BRANCH and 

CITIBANK, N.A., 
 as Syndication
Agents, 
 COBANK, ACB, 

COMERICA BANK, 
 BANK OF AMERICA,
N.A., 
 THE ROYAL BANK OF SCOTLAND PLC, 

HSBC BANK USA, N.A., 
 TD BANK,
N.A., 
  
  

	1 	In respect of the FourthFifth Amendment to the Second Amended and Restated Credit
Agreement, the Syndication Agents are BANK OF MONTREAL, BBVA COMPASS BANK, BANK OF AMERICA, N.A., TD BANK, N.A., CITIBANK, N.A., COÖPERATIEVE RABOBANK U.A., NEW YORK BRANCH, BANK OF THE WEST, COMERICA BANK, PNC
BANK, NATIONAL ASSOCIATION and SUMITOMO MITSUI BANKING CORPORATION, the Documentation Agents are FIFTH THIRD BANK, HSBC BANKGOLDMAN SACHS LENDING PARTNERS
LLC, BBVA SECURITIES INC., TD SECURITIES (USA, N.A.) LLC and COBANK,
ACBNP PARIBAS and the Joint Bookrunners and Co-Lead Arrangers are JPMORGAN CHASE BANK, N.A. and
BANK OF MONTREAL, acting under its trade name BMO CAPITAL MARKETS, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, JPMORGAN CHASE BANK, N.A. and CITIGROUP GLOBAL MARKETS INC.

 FIFTH THIRD BANK and 

REGIONS BANK, 
 as Documentation
Agents, 
  
  

J.P. MORGAN SECURITIES LLC 
 and

 BANK OF MONTREAL, 
 acting
under its trade name BMO CAPITAL MARKETS, 
 as Joint Bookrunners and Co-Lead Arrangers in respect of the Term A Facility and Revolving
Facility, 
 J.P. MORGAN SECURITIES LLC, 

GOLDMAN SACHS BANK USA and 
 BANK OF
MONTREAL, 
 acting under its trade name BMO CAPITAL MARKETS, 

as Joint Bookrunners and Co-Lead Arrangers in respect of the Term B Facility 

 Table of Contents 

 

							
	 	 	 	  	Page	 
	ARTICLE I DEFINITIONS	  	 	1	 
			
	 Section 1.01
	 	Defined Terms	  	 	1	 
	 Section 1.02
	 	Classification of Loans and Borrowings	  	 	4951	 
	 Section 1.03
	 	Terms Generally	  	 	4951	 
	 Section 1.04
	 	Accounting Terms; GAAP	  	 	5051	 
	 Section 1.05
	 	Business Days; Payments	  	 	5052	 
	 Section 1.06
	 	Exchange Rates; Currency Equivalents	  	 	5052	 
	 Section 1.07
	 	Cashless Rollovers	  	 	55	 
	 Section 1.08
	 	Dutch Terms	  	 	55	 
	 Section 1.09
	 	Agreed Security Principles	  	 	56	 
	 Section 1.10
	 	Certain Calculations and Tests	  	 	5456	 
		
	ARTICLE II THE CREDITS	  	 	5658	 
			
	 Section 2.01
	 	Commitments	  	 	5658	 
	 Section 2.02
	 	Loans and Borrowings	  	 	5659	 
	 Section 2.03
	 	Requests for Borrowings	  	 	5760	 
	 Section 2.04
	 	Swingline Loans	  	 	5861	 
	 Section 2.05
	 	Letters of Credit	  	 	6062	 
	 Section 2.06
	 	Funding of Borrowings	  	 	67	 
	 Section 2.07
	 	Interest Elections	  	 	6568	 
	 Section 2.08
	 	Termination and Reduction of Commitments	  	 	6669	 
	 Section 2.09
	 	Repayment of Loans; Evidence of Debt	  	 	6770	 
	 Section 2.10
	 	Amortization of Term Loans	  	 	6871	 
	 Section 2.11
	 	Prepayment of Loans	  	 	6972	 
	 Section 2.12
	 	Fees	  	 	76	 
	 Section 2.13
	 	Interest	  	 	7477	 
	 Section 2.14
	 	Alternate Rate of Interest	  	 	7578	 
	 Section 2.15
	 	Increased Costs	  	 	7679	 
	 Section 2.16
	 	Break Funding Payments	  	 	7780	 
	 Section 2.17
	 	Taxes	  	 	7781	 
	 Section 2.18
	 	Payments Generally; Pro Rata Treatment; Sharing of Set-Offs; Proceeds of Collateral	  	 	8184	 
	 Section 2.19
	 	Mitigation Obligations; Replacement of Lenders	  	 	8487	 
	 Section 2.20
	 	Incremental Facilities	  	 	8588	 
	 Section 2.21
	 	Defaulting Lenders	  	 	8791	 
	 Section 2.22
	 	Specified Refinancing Debt	  	 	9093	 
	 Section 2.23
	 	Ancillary Facilities	  	 	9296	 
		
	ARTICLE III REPRESENTATIONS AND WARRANTIES	  	 	95100	 
			
	 Section 3.01
	 	Organization; Powers	  	 	96100	 
	 Section 3.02
	 	Authorization; Enforceability	  	 	96100	 
	 Section 3.03
	 	Governmental Approvals; No Conflicts	  	 	96100	 
	 Section 3.04
	 	Financial Condition; No Material Adverse Change	  	 	96101	 
	 Section 3.05
	 	Properties	  	 	97101	 
	 Section 3.06
	 	Litigation and Environmental Matters	  	 	97101	 

							
	 Section 3.07
	 	Compliance with Laws	  	 	97101	 
	 Section 3.08
	 	Investment Company Act Status	  	 	97102	 
	 Section 3.09
	 	Taxes	  	 	97102	 
	 Section 3.10
	 	ERISA; Canadian Benefit Plans	  	 	98102	 
	 Section 3.11
	 	Disclosure	  	 	98103	 
	 Section 3.12
	 	Subsidiaries	  	 	99103	 
	 Section 3.13
	 	Labor Matters	  	 	99103	 
	 Section 3.14
	 	Solvency	  	 	99103	 
	 Section 3.15
	 	Margin Securities	  	 	99104	 
	 Section 3.16
	 	Security Documents	  	 	99104	 
	 Section 3.17
	 	Use of Proceeds	  	 	100104	 
	 Section 3.18
	 	Patriot Act; OFAC; FCPA	  	 	100104	 
		
	ARTICLE IV CONDITIONS	  	 	101105	 
			
	 Section 4.01
	 	Effective Date	  	 	101105	 
	 Section 4.02
	 	[Reserved]	  	 	102107	 
	 Section 4.03
	 	[Reserved]	  	 	102107	 
	 Section 4.04
	 	Each Credit Event	  	 	102107	 
		
	ARTICLE V AFFIRMATIVE COVENANTS	  	 	103107	 
			
	 Section 5.01
	 	Financial Statements and Other Information	  	 	103107	 
	 Section 5.02
	 	Notices of Material Events	  	 	105109	 
	 Section 5.03
	 	Existence; Conduct of Business	  	 	105110	 
	 Section 5.04
	 	Payment of Taxes	  	 	106110	 
	 Section 5.05
	 	Maintenance of Properties	  	 	106110	 
	 Section 5.06
	 	Insurance	  	 	106111	 
	 Section 5.07
	 	Books and Records; Inspection	  	 	106111	 
	 Section 5.08
	 	Compliance with Laws	  	 	107111	 
	 Section 5.09
	 	[Reserved]	  	 	107111	 
	 Section 5.10
	 	Collateral Matters; Guaranty Agreement	  	 	107112	 
	 Section 5.11
	 	Maintenance of Ratings	  	 	109114	 
	 Section 5.12
	 	Canadian Benefit Plans	  	 	109114	 
		
	ARTICLE VI NEGATIVE COVENANTS	  	 	114	 
			
	 Section 6.01
	 	Indebtedness	  	 	114	 
	 Section 6.02
	 	Liens	  	 	114119	 
	 Section 6.03
	 	Fundamental Changes	  	 	119124	 
	 Section 6.04
	 	Investments, Loans, Advances, Guarantees and Acquisitions	  	 	120125	 
	 Section 6.05
	 	Asset Sales	  	 	125130	 
	 Section 6.06
	 	[Reserved]	  	 	128133	 
	 Section 6.07
	 	Swap Agreements	  	 	128133	 
	 Section 6.08
	 	Restricted Payments; Certain Payments of Indebtedness	  	 	128133	 
	 Section 6.09
	 	Transactions with Affiliates	  	 	131136	 
	 Section 6.10
	 	Restrictive Agreements	  	 	132138	 
	 Section 6.11
	 	Amendment of Material Debt Documents	  	 	133139	 
	 Section 6.12
	 	Change in Fiscal Year	  	 	133139	 

  
 TABLE OF CONTENTS, Page ii of vii 

							
	ARTICLE VII FINANCIAL COVENANTS	  	 	139	 
			
	 Section 7.01
	 	Interest Coverage Ratio	  	 	139	 
	 Section 7.02
	 	Total Leverage Ratio	  	 	134139	 
	 Section 7.03
	 	[Reserved]	  	 	134139	 
		
	ARTICLE VIII EVENTS OF DEFAULT	  	 	134139	 
			
	 Section 8.01
	 	Events of Default; Remedies	  	 	134139	 
	 Section 8.02
	 	Performance by the Administrative Agent	  	 	137139	 
	 Section 8.03
	 	Adjustment for Ancillary Facilities	  	 	137142	 
		
	ARTICLE IX THE ADMINISTRATIVE AGENT	  	 	143	 
			
	 Section 9.01
	 	Appointment	  	 	143	 
	 Section 9.02
	 	Rights as a Lender	  	 	138143	 
	 Section 9.03
	 	Limitation of Duties and Immunities	  	 	138143	 
	 Section 9.04
	 	Reliance on Third Parties	  	 	144	 
	 Section 9.05
	 	Sub-Agents	  	 	139144	 
	 Section 9.06
	 	Successor Agent	  	 	139144	 
	 Section 9.07
	 	Independent Credit Decisions	  	 	139145	 
	 Section 9.08
	 	Other Agents	  	 	145	 
	 Section 9.09
	 	Powers and Immunities of Issuing Bank	  	 	140146	 
	 Section 9.10
	 	Permitted Release of Collateral and Subsidiary Loan Parties	  	 	146	 
	 Section 9.11
	 	Perfection by Possession and Control	  	 	142148	 
	 Section 9.12
	 	Lender Affiliates Rights	  	 	142148	 
	 Section 9.13
	 	Actions in Concert	  	 	142148	 
	 Section 9.14
	 	Certain Canadian Matters	  	 	148	 
		
	ARTICLE X MISCELLANEOUS	  	 	143149	 
			
	 Section 10.01
	 	Notices	  	 	143149	 
	 Section 10.02
	 	Waivers; Amendments	  	 	150	 
	 Section 10.03
	 	Expenses; Indemnity; Damage Waiver	  	 	152	 
	 Section 10.04
	 	Successors and Assigns	  	 	155	 
	 Section 10.05
	 	Survival	  	 	154160	 
	 Section 10.06
	 	Counterparts; Integration; Effectiveness	  	 	161	 
	 Section 10.07
	 	Severability	  	 	155161	 
	 Section 10.08
	 	Right of Setoff	  	 	155161	 
	 Section 10.09
	 	Governing Law; Jurisdiction; Consent to Service of Process	  	 	155162	 
	 Section 10.10
	 	WAIVER OF JURY TRIAL	  	 	156162	 
	 Section 10.11
	 	Headings	  	 	156163	 
	 Section 10.12
	 	Confidentiality	  	 	163	 
	 Section 10.13
	 	Maximum Interest Rate	  	 	164	 
	 Section 10.14
	 	Limitation of Liability	  	 	159165	 
	 Section 10.15
	 	No Duty	  	 	159165	 
	 Section 10.16
	 	No Fiduciary Relationship	  	 	159166	 
	 Section 10.17
	 	Construction	  	 	160166	 
	 Section 10.18
	 	USA Patriot Act and Canadian Anti-Money Laundering Legislation	  	 	160166	 
	 Section 10.19
	 	Parallel Debt (Covenant to pay the Administrative Agent)	  	 	167	 

  
 TABLE OF CONTENTS, Page iii of vii 

							
	 Section 10.20
	 	Additional Borrowers	  	 	161167	 
	 Section 10.21
	 	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	  	 	168	 
	
Section 10.22
	 	Certain ERISA Matters.	  	 	169	 
		
	ARTICLE XI COLLECTION ALLOCATION MECHANISM	  	 	162171	 
			
	 Section 11.01
	 	Implementation of CAM	  	 	162171	 
	 Section 11.02
	 	Letters of Credit	  	 	162171	 

  
 TABLE OF CONTENTS, Page iv of vii 

 LIST OF EXHIBITS AND SCHEDULES 

 

					
	EXHIBITS:	  		  	
			
	Exhibit A	  	–	  	Form of Assignment and Assumption
			
	Exhibit B	  	–	  	Form of Guaranty Agreement
			
	Exhibit C	  	–	  	Form of Security Agreement
			
	Exhibit D	  	–	  	Form of Compliance Certificate
			
	Exhibit E	  	–	  	Form of Incremental Facility Activation Notice
			
	Exhibit F	  	–	  	Form of Solvency Certificate
			
	Exhibit G	  	–	  	Form of Tax Exemption Certificate
			
	SCHEDULES:	  		  	
			
	Schedule 1.01	  	–	  	Existing Letters of Credit
			
	Schedule 1.09	  	–	  	Agreed Security Principles
			
	Schedule 2.01	  	–	  	Commitments
			
	Schedule 3.12	  	–	  	Subsidiaries
			
	Schedule 3.13	  	–	  	Labor Matters
			
	Schedule 5.10	  	–	  	Post-Closing Items
			
	Schedule 6.01	  	–	  	Existing Indebtedness
			
	Schedule 6.02	  	–	  	Existing Liens
			
	Schedule 6.04	  	–	  	Investments
			
	Schedule 6.09	  	–	  	Certain Affiliate Transactions

  
 TABLE OF CONTENTS, Page v of vii 

 SECOND AMENDED AND RESTATED CREDIT AGREEMENT dated as of January 6, 2014 (this
“Agreement”) among DARLING INGREDIENTS INC., a Delaware corporation, the Canadian Borrower, the Dutch Parent Borrower, the German Subsidiary Borrower, the Dutch Subsidiary Borrowers, the LENDERS party hereto from time to time, and JPMORGAN CHASE BANK, N.A., as Administrative Agent for the Lenders, GOLDMAN
SACHS BANK and BANK OF MONTREAL, acting under its trade name BMO CAPITAL MARKETS, as Syndication Agents (in such capacity, the “Syndication Agents”) and COBANK, ACB, COMERICA BANK, BANK OF AMERICA, N.A., THE ROYAL BANK OF SCOTLAND
PLC, HSBC BANK USA, N.A., TD BANK, N.A., FIFTH THIRD BANK and REGIONS BANK, as Documentation Agents (in such capacity, the “Documentation Agents”). 

WHEREAS the Parent Borrower is a party to that certain Amended and Restated Credit Agreement dated as of September 27, 2013 among the
Parent Borrower, the lenders from time to time party thereto, the Administrative Agent and the other parties thereto (as amended, restated, amended and restated, supplemented or otherwise modified immediately prior to the effectiveness hereof, the
“Existing Credit Agreement”); 
 WHEREAS the parties hereto agree to amend and restate the Existing Credit Agreement in its
entirety as set forth herein; 
 NOW, THEREFORE, in consideration of the premises and the covenants and agreements contained herein, the
parties hereto hereby agree as follows: 
 ARTICLE I 

Definitions 

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

“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing,
are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Additional Borrowers” has the
meaning set forth in Section 10.20. 
 “Additional Lender” has the meaning set forth in
Section 2.20(b). 
 “Adjusted EBITDA” means, for any period (the “Subject Period”), the total
of the following calculated without duplication for such period: (a) the EBITDA of the Parent Borrower and its Restricted Subsidiaries; plus (b) cash distributions actually received from joint ventures (including the Renewable
Diesel Joint Venture); plus (c) on a pro forma basis calculated in the manner described in Section 1.10, the pro forma EBITDA and cash distributions of the type set forth in the preceding clause (b) of each Prior
Target (or, as applicable, the EBITDA and such cash distributions of any such Prior Target attributable to the assets acquired from such Prior Target), for any portion of such Subject Period occurring prior to the date of the acquisition of such
Prior Target (or the related assets, as the case may be); plus (d) costs, charges, accruals, reserves or expenses attributable to the undertaking and/or implementation of cost savings, operating expense reductions, product margin
synergies and product cost and other synergies and similar initiatives, integration, transition, reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for alternative uses, facilities opening and pre-opening (including
unused warehouse space costs), business optimization and other restructuring costs, charges, 

 accruals, reserves, expenses (including those related to tax restructurings, inventory optimization programs,
software development costs, systems implementation and upgrade expenses, the closure or consolidation of facilities (including severance, rent termination costs, moving costs and legal costs related thereto) and curtailments, costs related to entry
into new markets (including unused warehouse space costs), consulting fees, signing costs, retention or completion bonuses, relocation expenses, severance payments, modifications to pension and post-retirement employee benefit plans, new systems
design and implementation costs and project startup costs); plus (e) expected cost savings, operating expense reductions, other operating improvements, product margin synergies and product cost and other synergies (net of the amount of
actual amounts realized) reasonably identifiable and factually supportable (in the good faith determination of such Person) related to (A) the Original Transactions and (B) permitted asset sales, acquisitions, Investments, Dispositions,
operating improvements, restructurings, cost saving initiatives and certain other similar initiatives and specified transactions (whether occurring before or after the
FourthFifth Amendment Date); provided that, (x) with respect to clause (e)(B), such cost savings, operating expense reductions, other operating improvements, product margin synergies and product cost and
other synergies are reasonably expected to be realized within 18 months of the event giving rise thereto and (y) the aggregate amount of any increases to Adjusted EBITDA for any Subject Period pursuant to clauses (d) and
(e) shall not exceed (1) the amount of any such cost savings, operating expense reductions, other operating improvements, product margin synergies and product cost and other synergies of the type that would be permitted to be
included in pro forma financial statements prepared in accordance with Article 11 of Regulation S-X of the Securities Act of 1933 plus (2) 10% of Adjusted EBITDA for such applicable Subject Period; minus (f) the EBITDA of
each Prior Company and, as applicable but without duplication, the EBITDA of the Parent Borrower and each Restricted Subsidiary attributable to all Prior Assets, in each case for any portion of such Subject Period occurring prior to the date of the
disposal of such Prior Companies or Prior Assets calculated in the manner described in Section 1.10. 
 “Adjusted
LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period or with respect to the determination of the Alternate Base Rate, an interest rate per annum (rounded upwards, if necessary, to the next 1/100th of 1%) equal
to (a) the LIBO Rate for such Interest Period or, with respect to the determination of the Alternative Base Rate, for a one month interest period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the Lenders hereunder,
or, in the case of Loans or Letters of Credit denominated in Canadian Dollars or Euro, JPMorgan Chase Bank, N.A., Toronto Branch or any Affiliate of JPMorgan Chase Bank, N.A. thereof designated by it, in its capacity as administrative agent for the
Lenders hereunder. 
 “Administrative Questionnaire” means an administrative questionnaire in a form supplied by the
Administrative Agent. 
 “Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly
through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

“Affiliated Lender” has the meaning set forth in Section 10.04(e). 

“Agreed Security Principles” means those principles set forth on Schedule 1.09. 

“Agreement” has the meaning set forth in the preamble hereto. 

  
 CREDIT AGREEMENT, Page 2 

 “Agreement Currency” has the meaning set forth in Section 1.06(h).

 “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on
such day, (b) the NYFRB Rate in effect on such day plus  1⁄2 of 1% and (c) the Adjusted LIBO Rate for a one month interest period on such day (or if
such day is not a Business Day, the immediately preceding Business Day) plus 1%;
provided that solely with respect to Term B Loans the Alternate Base Rate
shall not be less than 1.75%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate shall be effective from and including the
effective date of such change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate, respectively. 
 “Alternative
Currencies” means Canadian Dollars, Euro, Sterling and any other currency reasonably acceptable to the Administrative Agent and each applicable Revolving Lender that is freely convertible into Dollars and readily available in the London
interbank market. 
 “Ancillary Commitment” means, with respect to any Ancillary Lender and Ancillary Facility, the maximum
amount that such Ancillary Lender has agreed to make available from time to time prior to the Revolving Maturity Date under such Ancillary Facility pursuant to Section 2.23 by such Ancillary Lender. With respect to any Ancillary
Commitment not denominated in dollars, the amount of such Ancillary Commitment, for purposes of calculations in respect of usage, fees and similar items under this Agreement, shall be the Dollar Equivalent thereof and the Administrative Agent may,
on any Revaluation Date, re-determine the amount of the Ancillary Commitment and provide notice thereof as set forth in Section 1.06(e). 

“Ancillary Facility” means (a) any overdraft, automated payment, check drawing and/or other current account facility,
(b) any short term loan facility, (c) any foreign exchange facility, (d) any letter of credit, suretyship, guarantee and/or bonding facility or any other instrument to provide a contingent liability and/or (e) any other facility
or financial accommodation (other than a Swap Agreement (except as set forth in clause (c) above)) that may be required in connection with the business of the Parent Borrower and/or any of its Subsidiaries, in each case made available in
accordance with Section 2.23. 
 “Ancillary Facility Adjustment Date” has the meaning set forth in
Section 8.03. 
 “Ancillary Facility Document” means, with respect to any Ancillary Facility, each document or
instrument between any Borrower and the applicable Ancillary Lender thereunder governing such Ancillary Facility. 
 “Ancillary
Facility Exposure” shall mean, at any time, with respect to any Ancillary Lender and any Ancillary Facility then in effect, the Dollar Equivalent of the sum of the following amounts outstanding under such Ancillary Facility: 

(a) the principal amount under each overdraft facility and on-demand short term loan facility (net of any credit balance on any
account of any Borrower under any Ancillary Facility with the relevant Ancillary Lender to the extent that such credit balance is freely available to be set-off by such Ancillary Lender against liabilities owing by such Borrower under such Ancillary
Facility); 
 (b) the face amount of each guarantee, bond, letter of credit or similar instrument under such Ancillary
Facility; and 

  
 CREDIT AGREEMENT, Page 3 

 (c) the amount fairly representing the aggregate exposure (excluding interest and
similar charges) of such Ancillary Lender under each other type of accommodation provided under such Ancillary Facility, 
 in each case as determined by
such Ancillary Lender, acting reasonably in accordance with its normal banking practice and in accordance with the relevant Ancillary Facility Document. 

“Ancillary Lender” shall mean, with respect to any Ancillary Facility, the Revolving Lender (or an Affiliate of such
Revolving Lender) that has made such Ancillary Facility available under Section 2.23. 
 “Applicable Fiscal Year has
the meaning set forth in Section 2.11(d). 
 “Applicable Percentage” means, with respect to any Revolving
Lender, subject to Section 2.21, the percentage of the total Revolving Commitments represented by such Lender’s Revolving Commitment. If the Revolving Commitments have terminated or expired, the Applicable Percentages shall be
determined based upon the Revolving Commitments most recently in effect, giving effect to any assignments. 
 “Applicable
Rate” means, for any day and with respect to any: 
 (a) Term B
USD Loan or Term B EUR Loan, the applicable rate per annum set forth below under the caption “Term B USD Loan Eurodollar Spread”, “Term B EUR Loan Eurodollar Spread” or “Term B USD Loan ABR Spread”, as the case may be,
based upon the Total Leverage Ratio as of the most recent determination date;
provided that for purposes of this clause (a), the Total Leverage Ratio shall be deemed to be in Category 1 until the date the
financial statements are delivered pursuant to Section 5.01(b)
for the third fiscal quarter of the Parent Borrower ending in 2014: 

 

															
	 Category
	  	 Total 

Leverage Ratio
	  	Term B USD
Loan
Eurodollar
Spread	 	 	Term B EUR
Loan
Eurodollar
Spread	 	 	Term B USD
Loan ABR
Spread 	 
	 1
	  	Greater than or equal to 3.00:1.00	  	 	2.50	% 	 	 	2.75	% 	 	 	1.50	% 
	 2
	  	Less than 3.00:1.00 	  	 	2.25	% 	 	 	2.50	% 	 	 	1.25	% 

(a) Term B Loan, 2.00% in
the case of Term B Loans that are Eurodollar Loans and 1.00% in the case of Term B Loans that are ABR Loans; 

and 
 (b) Term A Loan or
Revolving Loan and with respect to any letter of credit fee or any commitment fee payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “ABR Spread/Canadian Prime Rate Spread/Euro Swingline Rate
Spread”, “Eurodollar Spread/CDOR Spread”, “Commitment Fee Rate” or “Letter of Credit Fee”, as the case may be, based upon the Total Leverage Ratio as of the most recent determination date: 

  
 CREDIT AGREEMENT, Page 4 

																			
	 Category
	  	 Total

Leverage Ratio
	  	Eurodollar
Spread/CDOR
Spread	 	 	ABR
Spread/Canadian
Prime Rate
Spread /Euro
Swingline Rate
Spread	 	 	Commitment
Fee Rate	 	 	Letter of
Credit Fee	 
	 1
	  	Greater than or equal to 5.00:1.00	  	 	2.50	% 	 	 	1.50	% 	 	 	0.45	% 	 	 	2.50	% 
	 2
	  	Less than 5.00:1.00 but greater than or equal to 4.00:1.00	  	 	2.25	% 	 	 	1.25	% 	 	 	0.40	% 	 	 	2.25	% 
	 3
	  	Less than 4.00:1.00 but greater than or equal to 3.00:1.00	  	 	2.00	% 	 	 	1.00	% 	 	 	0.35	% 	 	 	2.00	% 
	 4
	  	Less than 3.00:1.00 but greater than or equal to 2.00:1.00	  	 	1.75	% 	 	 	0.75	% 	 	 	0.30	% 	 	 	1.75	% 
	 5
	  	Less than 2.00:1.00 but greater than or equal to 1.00:1.00	  	 	1.50	% 	 	 	0.50	% 	 	 	0.25	% 	 	 	1.50	% 
	 6
	  	Less than 1.00:1.00	  	 	1.25	% 	 	 	0.25	% 	 	 	0.20	% 	 	 	1.25	% 

 For purposes of the foregoing, (i) the Total Leverage Ratio shall be determined as of the end of each
fiscal quarter of the Parent Borrower’s fiscal year based upon the Parent Borrower’s consolidated financial statements most recently delivered pursuant to Section 5.01(a) or (b); provided that the “Applicable Rate” in clause (a) above shall be subject to the proviso in such clause (a) and provided
further that until
delivery of the Parent Borrower’s consolidated financial statements for the first full fiscal quarter ended after the Fourth Amendment Date as required by Section 5.01(a) or (b), the “Applicable Rate” in clause
(b) above shall be the applicable rate per annum set forth in Category 3 of clause (b) above and (ii) each change in the Applicable Rate resulting from a change in the Total Leverage Ratio shall be effective during the
period commencing on and including the date of delivery to the Administrative Agent of such consolidated financial statements indicating such change and ending on the date immediately preceding the effective date of the next such change;
provided that the Total Leverage Ratio shall be deemed to be in Category 1: (A) at any time that an Event of Default has occurred and is continuing or (B) at the option of the Administrative Agent or at the request of the Required
Lenders if the Parent Borrower fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 5.01(a) or (b), during the period from the expiration of the time for delivery thereof until
such consolidated financial statements are delivered. Notwithstanding anything in this definition of “Applicable Rate” to the contrary, the modifications to the
pricing grid set forth in clause (ba) above
 pursuant to the FourthFifth Amendment shall become effective on the
FourthFifth Amendment Date. 

  
 CREDIT AGREEMENT, Page 5 

 “Approved Electronic Communications” means any notice, demand, communication,
information, document or other material that any Loan Party provides to the Administrative Agent pursuant to any Loan Document or the transactions contemplated therein which is distributed to any agents hereunder or to Lenders by means of electronic
communications pursuant to Section 10.01. 
 “Approved Fund” means a Person (other than a natural person) that
is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its business and 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. 
 “Asset Swap” means a concurrent purchase and
sale or exchange of Related Business Assets between the Parent Borrower or any of its Restricted Subsidiaries and another Person; provided that the Parent Borrower or such Restricted Subsidiary, as the case may be, receives consideration at
least equal to the fair market value (such fair market value to be determined on the date of the contractually agreeing to such transaction) as determined in good faith by the Parent Borrower. 

“Assignment and Assumption” means an Assignment and Assumption entered into by a Lender and an Eligible Assignee, and
accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent. 

“Available Amount” means, at any date, an amount equal to the sum of: 

(i) $340,400,000; plus  

(ii) the Net Proceeds actually received by the Parent Borrower from and after the Effective Date to such date from the sale of Equity Interests
of the Parent Borrower (other than (A) Disqualified Equity Interests, (B) Equity Interests issued or sold to a Restricted Subsidiary or an employee stock ownership plan or similar trust to the extent such sale to an employee stock
ownership plan or similar trust is financed by loans from or Guaranteed by the Parent Borrower or any Restricted Subsidiary unless such loans have been repaid with cash on or prior to the date of determination and (C) Equity Interests the Net
Proceeds of which are used to repay long-term Indebtedness for borrowed money (other than revolving loans) or to fund any portion of the Vion Acquisition); plus  

(iii) an amount equal to (A) the net reduction in Investments made after the Fourth Amendment Date using the Available Amount (not in
excess of the original amount of such Investments) in respect of any returns in cash and cash equivalents (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) actually received
by the Parent Borrower and its Restricted Subsidiaries from such Investments after the Fourth Amendment Date and (B) the net cash proceeds of the Disposition of any Investment after the Fourth Amendment Date made using the Available Amount
actually received by the Parent Borrower and its Restricted Subsidiaries after the Fourth Amendment Date; plus  
 (iv) (A) the
amount of any Investment by the Parent Borrower and its Restricted Subsidiaries that was made after the Fourth Amendment Date using the Available Amount in any Unrestricted Subsidiary that has been re-designated as a Restricted Subsidiary or that
has been merged, amalgamated or consolidated with or into the Parent Borrower or any Restricted Subsidiary and (B) the fair market value of the assets of any Unrestricted Subsidiary that has been transferred, conveyed or otherwise distributed
to the Parent Borrower or any Restricted Subsidiary (net of amounts paid by the Parent Borrower or any Restricted Subsidiary to such Unrestricted Subsidiary for such assets), such amount not to exceed the amount of the Investment made with the
Available Amount after the Fourth Amendment Date by the Parent Borrower and its Restricted Subsidiaries in such Unrestricted Subsidiary; minus  

  
 CREDIT AGREEMENT, Page 6 

 (v) the aggregate amount of unreimbursed payments made after the Fourth Amendment Date by the
Parent Borrower or any Restricted Subsidiary in respect of Indebtedness permitted by Section 6.01(w) or the exercise of remedies under any Lien incurred pursuant to Section 6.02(y)(ii). 

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in
respect of any liability of an EEA Financial Institution. 
 “Bail-In Legislation” means, with respect to any EEA Member
Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation
Schedule. 
 “Bankruptcy Code” means the Federal Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et seq.) and the
regulations issued from time to time thereunder. 

“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 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”.

 “Board” means the Board of Governors of the Federal Reserve System of the United States of America. 

“Bona Fide Debt Fund” means any bona fide (i) debt fund, (i) investment vehicle, (iii) regulated bank entity
or (iv) non-regulated lending entity that is, in each case, engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of business that is managed, sponsored or
advised by any person Controlling, Controlled by or under common Control with a Disqualified Institution, but only to the extent that no personnel involved with the investment in the relevant Disqualified Institution (A) makes (or has the right
to make or participate with others in making) investment decisions on behalf of, or otherwise cause the direction of the investment policies of, such debt fund, investment vehicle, regulated bank entity or unregulated lending entity or (B) has
the access to any information (other than information that is publicly available) relating to the Parent Borrower and/or any entity that forms part of any of its business (including any of its Subsidiaries). 

“Borrowers” means the Parent Borrower and the Subsidiary Borrowers. 

“Borrowing” means (a) Loans of the same Class and Type, made, converted or continued on the same date and, in the case
of Eurodollar Loans or CDOR Rate Loans, as applicable, as to which a single Interest Period is in effect (it being understood that Loans denominated in dollars made under the USD Only Revolving Commitment and the USD/Multicurrency Revolving
Commitment shall be deemed Loans of the same “Class” for purposes hereof) or (b) a Swingline Loan. 
 “Borrowing
Request” means a request by the applicable Borrower for a Borrowing in accordance with Section 2.03. 

  
 CREDIT AGREEMENT, Page 7 

 “Business Day” means any day that is not a Saturday, Sunday or other day on
which commercial banks in Amsterdam, New York City, Chicago, Illinois or Dallas, Texas, are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan or Ancillary Facility, the term
“Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market; provided further that when used in connection with (i) any Loans or Letters of Credit
or Ancillary Facility denominated in Canadian Dollars, such date shall also exclude any day on which commercial banks in Toronto, Ontario are authorized or required by law to remain closed, (ii) any Loans or Letters of Credit or Ancillary
Facility denominated in Euro, such date shall also exclude any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET) payment system (or, if such payment system ceases to be operative, such other payment
system (if any) determined by the Administrative Agent to be a suitable replacement) is not open for the settlement of payments in Euro and (iii) any Loans or Letters of Credit or Ancillary Facility denominated in Sterling such date shall also
exclude any day on which commercial banks in London are authorized or required by law to remain closed. 
 “CAD Term A
Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make CAD Term A Loans hereunder, expressed as an amount representing the maximum principal amount of the CAD Term A Loans to be made by such Lender
hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.04 and
(c) established or increased from time to time pursuant to an Incremental Assumption Agreement. The initial amount of each Lender’s CAD Term A Commitment is set forth on Schedule 2.01, or in the Assignment and Assumption or
Incremental Assumption Agreement pursuant to which such Lender shall have assumed its CAD Term A Commitment, as applicable. The Dollar Equivalent of the initial aggregate amount of the Lenders’ CAD Term A Commitments is $150,000,000. 

“CAD Term A Facility” means the CAD Term A Commitments and the extensions of credit made thereunder. 

“CAD Term A Lender” means a Lender with a CAD Term A Commitment or an outstanding CAD Term A Loan. 

“CAD Term A Loans” means a Loan made pursuant to clause (b) of Section 2.01 or an Incremental Term
Loan denominated in Canadian Dollars. 
 “CAM Exchange” means the exchange of the Lenders’ interests provided for in
Section 11.01. 
 “CAM Exchange Date” means the date on which (a) any event referred to in paragraph
(g) or (h) of Article VIII shall occur in respect of any Borrower or (b) an acceleration of the maturity of the Loans pursuant to Article VIII shall occur. 

“CAM Percentage” means, as to each Lender, a fraction, expressed as a decimal, of which (a) the numerator shall be the
aggregate dollar amount of the sum, without duplication, of (i) the Specified Obligations (including the Dollar Equivalent of any Specified Obligations owing in any currency (other than dollars)) owed to such Lender, (ii) such
Lender’s participation in undrawn amounts of Letters of Credit (including the Dollar Equivalent of the undrawn amount of any Letters of Credit not denominated in dollars) immediately prior to the CAM Exchange Date and (b) the denominator
shall be the aggregate dollar amount of the sum, without duplication, of (i) the Specified Obligations (including the Dollar Equivalent of any Specified Obligations owing in any currency (other than dollars)) owed to all the Lenders and
(ii) the aggregate undrawn amount of outstanding Letters of Credit (including the Dollar Equivalent of the undrawn amount of any Letters of Credit not denominated in dollars) immediately prior to such CAM Exchange Date. 

  
 CREDIT AGREEMENT, Page 8 

 “Canadian Benefit Plans” means any plan, agreement, fund, program, practice or
policy, whether oral or written, formal or informal, funded or unfunded, insured or uninsured, providing employee benefits, including medical, hospital care, dental, sickness, accident, disability, life insurance, pension, retirement or savings
benefits, under which any Canadian Loan Party has any liability with respect to any current or former employee, officer, director or contractor employed in Canada (or any spouses, dependents, survivors or beneficiaries of any such persons),
including any Canadian Pension Plans but excluding any statutory benefit plans which any Canadian Loan Party is required to participate in or comply with, such as the Canada Pension Plan, the Quebec Pension Plan and plans administered pursuant to
applicable health, tax, workplace safety insurance and employment insurance legislation. 
 “Canadian Borrower” means
Darling Canada. 
 “Canadian Borrower Joinder Date” means October 24, 2013. 

“Canadian Defined Benefit Plan” means any Canadian Pension Plan which contains a “defined benefit provision” as
defined in subsection 147.1(1) of the Income Tax Act (Canada). 
 “Canadian Dollars” or “$C” means lawful
money of Canada. 
 “Canadian Loan Party” means each Loan Party formed under the laws of Canada or any province or
territory thereof. 
 “Canadian Multi-Employer Plans” means all Canadian Benefit Plans to which a Canadian Loan Party is
required to contribute pursuant to a collective agreement and which are not maintained or administered by a Canadian Loan Party or any of their Affiliates. 

“Canadian Pension Plans” means any Canadian Benefit Plan that is required to be registered under Canadian federal or
provincial pension benefits standards legislation. 
 “Canadian Pension Termination Event” means the occurrence of any of
the following: (i) the board of directors of any Canadian Loan Party passes a resolution to terminate or wind-up in whole or in part any Canadian Defined Benefit Plan or any Canadian Loan Party otherwise initiates any action or filing to
voluntarily terminate or wind-up in whole or in part any Canadian Defined Benefit Plan; (ii) the institution of proceedings by any Governmental Authority to terminate in whole or in part any Canadian Defined Benefit Plan, including notice being
given by the Superintendent of Financial Services or another Governmental Authority that it intends to proceed to wind-up in whole or in part a Canadian Defined Benefit Plan of a Canadian Loan Party; (iii) there is a cessation or suspension of
contributions to the fund of a Canadian Defined Benefit Plan by a Canadian Loan Party (other than a cessation or suspension of contributions that is due to (a) an administrative error or (b) the taking of contribution holidays in
accordance with applicable law); (iv) the receipt by a Canadian Loan Party of correspondence from any Governmental Authority related to the likely wind-up or termination (in whole or in part) of any Canadian Defined Benefit Plan; and
(v) the wind-up or partial wind-up of a Canadian Defined Benefit Plan. Notwithstanding anything to the contrary herein, a Canadian Pension Termination Event shall not include any event that relates to the partial wind-up or termination of
solely a defined contribution component of a Canadian Defined Benefit Plan. 

  
 CREDIT AGREEMENT, Page 9 

 “Canadian Prime Rate” means, for any period, the rate per annum determined by
the Administrative Agent to be the higher of (i) the rate of interest per annum most recently announced or established by JPMorgan Chase Bank, N.A., Toronto Branch as its reference rate in effect on such day for determining interest rates for
Canadian Dollar denominated commercial loans in Canada and commonly known as “prime rate” (or its equivalent or analogous such rate), such rate not being intended to be the lowest rate of interest charged by JPMorgan Chase Bank, N.A.,
Toronto Branch and (ii) the sum of (a) the yearly interest rate to which the one-month CDOR Rate is equivalent plus (b) one percent (1.0%). Any change in such rate due to a change in the “prime rate” or CDOR Rate shall be
effective as of the opening of business on the day of such change in the “prime rate” or the CDOR Rate, as the case may be. 

“Canadian Prime Rate Borrowing” means a Borrowing of Swingline Loans comprised of Canadian Prime Rate Loans. 

“Canadian Prime Rate Loan” means a Swingline Loan denominated in Canadian Dollars. 

“Canadian Security Agreement” means the Canadian Pledge and Security Agreement among the Administrative Agent, the Canadian
Borrower and the other Canadian Loan Parties in form and substance reasonably acceptable to the Administrative Agent. 
 “Canadian
Subsidiary” means any Subsidiary of the Parent Borrower incorporated or otherwise organized under the laws of Canada or any province or territory thereof. 

“Capital Expenditures” means, for any period and a Person, without duplication (a) the additions to property, plant and
equipment and other capital expenditures of such Person and its consolidated subsidiaries that are (or would be) set forth in a consolidated statement of cash flows of such Person for such period prepared in accordance with GAAP and (b) Capital
Lease Obligations incurred by such Person and its consolidated subsidiaries during such period. 
 “Capital Lease
Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are
required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 

“CDOR Loan Rate” means the CDOR Rate plus, in the case of any Lender that is not a Schedule I Lender, 0.10% per annum.

 “CDOR Rate” means, on any day when a CDOR Rate Loan is to be made pursuant hereto, the per annum rate of interest which
is the rate determined as being the arithmetic average of the annual yield rates applicable to Canadian Dollar bankers’ acceptances having a term comparable to such Interest Period of the CDOR Rate Loan requested by the applicable Borrower
displayed and identified as such on the display referred to as the “CDOR Page” (or any display substituted therefor) of Reuters Monitor Money Rates Service (or any successor thereto or Affiliate thereof) as at approximately 11:00 a.m.
(Toronto time) on the date of the commencement of such Interest Period; provided, however, if such a rate does not appear on such CDOR Page, then the CDOR Rate, on any day, shall be the discount rate quoted by the Administrative Agent or, in
the event that the Administrative Agent does not at such time issue bankers’ acceptances, the Bank of Montreal (determined as of 11:00 a.m. (Toronto time) on such day) which would be applicable in respect of an issue of bankers’
acceptances having a term comparable to such Interest Period of the CDOR Rate Loan requested by the applicable Borrower on such day, or if such day is not a Business Day, then on the immediately preceding Business Day. If the CDOR Rate shall be less
than zero, it shall be deemed zero for purposes of this Agreement. 

  
 CREDIT AGREEMENT, Page 10 

 “CDOR Rate Borrowing” means a Borrowing comprised of CDOR Rate Loans. 

“CDOR Rate Loan” means a Loan denominated in Canadian Dollars made by the Lenders (or any one of them) to the applicable
Borrower which bears interest at a rate based on the CDOR Loan Rate. 
 “Change in Control” means any of the following:
(a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in
effect on the date hereof), of Equity Interests representing more than 50% of either the aggregate ordinary voting power or the aggregate equity value represented by the issued and outstanding Equity Interests in the Parent Borrower;
(b) occupation of a majority of the seats (other than vacant seats) on the board of directors of Parent Borrower by Persons who were neither (i) nominated, appointed or approved for consideration by shareholders for election by the board
of directors of Parent Borrower nor (ii) appointed or elected by directors so nominated, appointed or approved; or (c) the occurrence of a “Change of Control” or any comparable event resulting in a requirement for the Parent
Borrower to make an offer to purchase any
NewExisting Senior Unsecured Notes, Pari Passu Notes, Incremental Equivalent Debt, any Refinancing Notes or any Refinancing Junior Loans with an aggregate principal amount outstanding in excess of the Threshold Amount, as
the term “Change of Control” or those events are defined under any of the documentation evidencing and governing any of the NewExisting Senior Unsecured Notes, Pari Passu Notes, any Incremental Equivalent Debt, any
Refinancing Notes or any Refinancing Junior Loans, as applicable. Notwithstanding the foregoing, the Vion Acquisition and the merger of Darling Escrow Corporation with and into the Parent Borrower shall not constitute or give rise to a Change in
Control. 
 “Change in Law” means (a) the adoption of any law, rule or regulation after the date of this
Agreement, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement or (c) compliance by any Lender or the Issuing Bank (or, for purposes
of Section 2.15(b), by any lending office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental
Authority made or issued after the date of this Agreement; provided, however, that notwithstanding anything herein to the contrary, (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for
International Settlements, the Basel Committee on Banking Supervision or by United States or foreign regulatory authorities, in each case pursuant to Basel III, and (ii) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all
requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in implementation thereof, shall in each case be deemed to be a Change in Law, regardless of the date enacted, adopted, issued or implemented
but solely to the extent the relevant increased costs or loss of yield would have been included if they had been imposed under applicable increased cost provisions and only to the extent the applicable Lender is requiring reimbursement therefor from
similarly situated borrowers under comparable syndicated credit facilities (to the extent such Lender has the right to do so under its credit facilities with similarly situated borrowers). 

“Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are Revolving Loans, USD Only Revolving Loans, USD/Multicurrency Revolving Loans, Term Loans, Term A Loans, Term B Loans, Term B USD Loans, Term B EUR Loans,
USD Term A Loans, CAD Term A Loans, Swingline Loans, Loans made pursuant to any Specified Refinancing Debt constituting revolving facility commitments, Loans made pursuant to

  
 CREDIT AGREEMENT, Page 11 

 
any Specified Refinancing Debt constituting term loans, Loans made pursuant to an Incremental Revolving Commitment (other than an Incremental Commitment that is an increase of an existing
revolving commitment) or Loans made pursuant to an Incremental Term Facility and, when used in reference to any Commitment, refers to whether such Commitment is a Revolving Commitment, USD Only Revolving Commitment, USD/Multicurrency Revolving
Commitment, Term Commitment, Term B Commitment, Term B USD Commitments, Term B EUR Commitments, Term A Commitment, USD Term A
Commitment, CAD Term A Commitment, Specified Refinancing Debt constituting revolving facility commitment, Specified Refinancing Debt constituting term loan commitment, an Incremental Revolving Commitment (other than an Incremental Commitment that is
an increase of an existing revolving commitment) or a commitment for Incremental Term Loans. 
 “Code” means the
Internal Revenue Code of 1986, as amended from time to time. 
 “Collateral” means, collectively, all of the assets and
property (including Equity Interests) and interests therein and proceeds thereof, whether now owned or hereafter acquired, in or upon which a Lien is granted pursuant to any of the Security Documents as security for the Obligations or the Foreign
Obligations, as applicable. 
 “Commitment” means a Revolving Commitment or the Term Commitment, or any combination thereof
(as the context requires). 
 “Commitment Parties” means J.P. Morgan Securities LLC, JPMorgan Chase Bank, N.A., Goldman
Sachs Bank USA and Bank of Montreal, acting under its trade name BMO Capital Markets and such other financial institutions that become party to those certain Commitment Letters related to this Agreement and dated October 5, 2013, pursuant to
the terms thereof. 
 “Consolidated Net Income” means, for any period and any Person (a “Subject Person”),
such Subject Person’s consolidated net income (or loss) determined in accordance with GAAP, but excluding any extraordinary, nonrecurring, unusual, nonoperating or noncash gains, charges or losses (including (x) costs of, and payments of,
actual or prospective legal settlements, fines, judgments or orders, (y) costs of, and payments of, corporate reorganizations and (z) gains, income, losses, expenses or charges (less all fees and expenses chargeable thereto) attributable
to any sales or dispositions of Capital Stock or assets (including asset retirement costs) or returned surplus assets of any employee benefit plan outside of the ordinary course of business), and including or in addition to the above, the following:

 (a) the income (or loss) of any Unrestricted Subsidiary, any other Person who is not a Restricted Subsidiary but whose
accounts would be consolidated with those of the Subject Person in the Subject Person’s consolidated financial statements in accordance with GAAP or any other Person (other than a Restricted Subsidiary) in which the Subject Person or a
subsidiary has an ownership interest (including any joint venture); provided, however, that Consolidated Net Income shall include amounts in respect of the income of such Person when actually received by the Subject Person or such
subsidiary in the form of dividends, similar distributions or other payments, in each case, paid in cash (or to the extent converted into cash); 

(b) the income or loss of any Person acquired by the Subject Person or a subsidiary for any period prior to the date of such
acquisition (provided such income or loss may be included in the calculation of Adjusted EBITDA to the extent provided in the definition thereof); 

(c) the cumulative effect of any change in accounting principles during such period; 

  
 CREDIT AGREEMENT, Page 12 

 (d) any net gains, income, charges, losses, expenses or charges with respect to
(i) disposed, abandoned, closed and discontinued operations (other than assets held for sale) and any accretion or accrual of discounted liabilities and on the disposal of disposed, abandoned, and discontinued operations and
(ii) facilities, plants or distribution centers that have been closed during such period; 
 (e) (i) effects of
adjustments (including the effects of such adjustments pushed down to the Subject Person) in the Subject Person’s consolidated financial statements pursuant to GAAP (including in the inventory, property and equipment, software, goodwill,
intangible assets, in-process research and development, deferred revenue, deferred rent and debt line items thereof) resulting from the application of recapitalization accounting or acquisition accounting, as the case may be, in relation to the
Original Transactions or any consummated recapitalization or acquisition transaction or the amortization or write-off of any amounts thereof; 

(f) any net income or loss (less all fees and expenses or charges related thereto) attributable to the early extinguishment of
Indebtedness (and the termination of any associated Swap Agreements); 
 (e) any (i) write-off or amortization made in
such period of deferred financing costs and premiums paid or other expenses incurred directly in connection with any early extinguishment of Indebtedness, (ii) good will or other asset impairment charges, write-offs or write-downs or
(iii) amortization of intangible assets; 
 (h) any compensation charge, cost, expense, accrual or reserve, including
any such charge, cost, expense, accrual or reserve arising from (i) the grant of stock appreciation or similar rights, stock options, restricted stock or other equity incentive programs, (ii) any management equity plan or stock option plan
or any other management or employee benefit plan or agreement, pension plan, any stock subscription or shareholder agreement or any distributor equity plan or agreement and (iii) in connection with the rollover, acceleration or payout of Equity
Interests held by management of Parent Borrower and/or any of its subsidiaries; provided that, to the extent any such cash charges, costs, expenses, accruals or reserves are paid in cash, such cash charges, costs, expenses, accruals or
reserves are funded with cash proceeds contributed to the Parent Borrower as a capital contribution or as a result of the sale or issuance of Equity Interests (other than Disqualified Equity Interests) of Parent Borrower, and such contribution or
sale took place within the immediately preceding four fiscal quarter period of the Parent Borrower for which this exclusion is modifying Consolidated Net Income; 

(i) any fees, costs, commissions and expenses incurred during such period (including rationalization, legal, tax and
structuring fees, costs and expenses), or any amortization or write-off thereof for such period in connection with (i) the Original Transactions and the Transactions and (ii) any Investment (other than an Investment among the Parent
Borrower and its Subsidiaries in the ordinary course of operations), Disposition (other than Dispositions of inventory or Dispositions among the Parent Borrower and its Subsidiaries in the ordinary course of operations), incurrence, repayment,
extension, renewal, replacement, refinancing, amendment, restatement, amendment and restatement or modification of Indebtedness, including any amortization or write-off of debt issuance or deferred financing costs, premiums and prepayment penalties
(other than the incurrence, repayment, extension, renewal, replacement, refinancing, amendment, restatement, amendment and restatement or modification of Indebtedness among the Parent Borrower and its Subsidiaries in the ordinary course of
operations), and issuance or offering of Equity Interests, Restricted Payments, acquisitions, recapitalizations, mergers, consolidations or amalgamations, option buyouts or other similar transactions (in each case including any such transaction
proposed or undertaken, but not completed); 

  
 CREDIT AGREEMENT, Page 13 

 (j) accruals and reserves that are established or adjusted within 12 months
(i) after the Effective Date that are so required to be established or adjusted as a result of the Original Transactions and the Transactions and (ii) of the date of any Permitted Acquisition or similar Investment, in each case, in
accordance with GAAP or as a result of the adoption or modification of accounting policies; 
 (k) any unrealized or realized
net foreign currency translation gains or losses and unrealized net foreign currency transaction gains or losses, in each case impacting net income (including currency re-measurements of Indebtedness, any applicable net gains or losses resulting
from Swap Agreements for currency exchange risk associated with the above or any other currency related risk and those resulting from intercompany Indebtedness); 

(l) unrealized net losses, charges or expenses and unrealized net gains in the fair market value of any arrangements under Swap
Agreements. 
 “Consolidated Total Assets” means, as of any date of determination, the total amount of assets appearing on
a consolidated balance sheet of the Parent Borrower and its Restricted Subsidiaries, determined on a consolidated basis in accordance with GAAP. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Covered Party” means each Loan Party and any other Subsidiary of the Parent Borrower designated by the Parent Borrower as a
“Covered Party” for purposes of this Agreement. 
 “Credit Facilities” means the Revolving Facility and each Term
Facility. 
 “Criminal Code (Canada)” means the Criminal Code (Canada), R.S.C., 1985 c. C-46, as amended. 

“Darling Canada” means Darling International Canada Inc., a wholly-owned Subsidiary of the Parent Borrower formed under the
laws of the province of New Brunswick, Canada. 
 “Darling Escrow Corporation” means Darling Escrow Corporation, a Delaware
corporation and wholly-owned Subsidiary of the Parent Borrower and the initial issuer of the
NewExisting Senior Unsecured Notes. 
 “Date of Full Satisfaction” means, as of any date,
that on or before such date: (i) the principal of and interest accrued to such date on each Loan (other than the contingent LC Exposure) shall have been paid in full in cash, (ii) all fees, expenses and other amounts then due and payable
which constitute Loan Obligations (other than the contingent LC Exposure and other contingent amounts for which no claim or 

  
 CREDIT AGREEMENT, Page 14 

 
demand has been made) shall have been paid in full in cash, (iii) the Commitments shall have expired or been terminated, and (iv) the contingent LC Exposure shall have been secured by:
(A) the grant of a first priority, perfected Lien on cash or cash equivalents in an amount at least equal to 102% of the amount of such LC Exposure or other collateral which is reasonably acceptable to the Issuing Bank or (B) the issuance
of a “back–to–back” letter of credit in form and substance reasonably acceptable to the Issuing Bank with an original face amount at least equal to 102% of the amount of such LC Exposure. 

“Debtor Relief Laws” means the Bankruptcy Code, 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. 
 “Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of
time or both would, unless cured or waived, become an Event of Default. 
 “Defaulting Lender” means any Lender that has:
(a) failed to fund any portion of its Loans or participations in Letters of Credit or Swingline Loans within two (2) Business Days of the date required to be funded by it hereunder, (b) notified the Parent Borrower, the Administrative
Agent, the Issuing Bank, the Swingline Lender or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does not intend to comply with its
funding obligations under this Agreement or generally under other agreements in which it commits to extend credit, (c) failed, within two (2) Business Days after request by the Administrative Agent, to confirm that it will comply with the
terms of this Agreement relating to its obligations to fund prospective Loans and participations in then outstanding Letters of Credit and Swingline Loans; provided that any Lender that has failed to give such timely confirmation shall cease
to be a Defaulting Lender under this clause (c) immediately upon the delivery of such confirmation, (d) otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it
hereunder within two (2) Business Days of the date when due, unless the subject of a good faith dispute, (e) (i) become or is insolvent or has a parent company that has become or is insolvent or (ii) become the subject of a
bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or
appointment or has a parent company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent
to, approval of or acquiescence in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interests in that Lender or any direct or indirect
parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of
attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate disavow or disaffirm any contracts or agreements made with such Lender or (f) become subject to a Bail-In Action or that has a direct or
indirect parent company become subject to a Bail-In Action. 
 “Deposit Obligations” means all obligations, indebtedness,
and liabilities of the Covered Parties, or any one of them, to any Lender or any Affiliate of any Lender which have been designated by the Parent Borrower by written notice to the Administrative Agent as entitled to the security of the Collateral
and which arise pursuant to any treasury, purchasing card, deposit, lock box, commercial credit card, stored value card, employee credit card program, controlled disbursement, ACH transactions, return items, interstate deposit network services,
dealer incentive, supplier finance or similar programs, Society 

  
 CREDIT AGREEMENT, Page 15 

 
for Worldwide Interbank Financial Telecommunication transfer, cash pooling, operation foreign exchange management or cash management services or arrangements (including in connection with any
automated clearing house transfers of funds or any similar transactions between the Parent Borrower or any Subsidiary Loan Party and any Lender, Affiliate of a Lender, Issuing Bank or the Administrative Agent) entered into by such Lender or
Affiliate with the Covered Parties, or any one of them, whether now existing or hereafter arising, whether direct, indirect, related, unrelated, fixed, contingent, liquidated, unliquidated, joint, several, or joint and several, including, without
limitation, the obligation, indebtedness, and liabilities of the Covered Parties, or any one of them, to repay any credit extended in connection with such arrangements, interest thereon, and all fees, costs, and expenses (including reasonable
attorneys’ fees and expenses) provided for in the documentation executed in connection therewith. 
 “Designated
Non-Cash Consideration” means the fair market value (as determined by the Parent Borrower in good faith) of non-Cash consideration received by the Parent Borrower or a Restricted Subsidiary in connection with a Disposition pursuant to
Section 6.05(o) that is designated as Designated Non-Cash Consideration pursuant to a certificate of a Responsible Officer of the Parent Borrower, setting forth the basis of such valuation (which amount will be reduced by the amount of
cash or Permitted Investments received in connection with a subsequent sale or conversion of such Designated Non-Cash Consideration to cash or Permitted Investments). 

“Disclosed Matters” means all the matters disclosed on the Schedules hereto or in the Parent Borrower’s reports to the
Securities and Exchange Commission on form 10-K for the fiscal year ended January 2, 2016 or the 10-Qs for the fiscal quarters ended April 2, 2016, July 2, 2016 and October 1, 2016. For the avoidance of doubt, the disclosure in
the Disclosed Matters shall not be deemed to include any risk factor disclosures contained under the heading “Risk Factors,” any disclosure of risks included in any “forward-looking statements” disclaimer or any other statements
that are similarly predictive or forward-looking in nature. 
 “Disposition” has the meaning set forth in
Section 6.05. The terms “Dispose” and “Disposed of” shall have the correlative meanings. 

“Disqualified Equity Interests” means any Equity Interest which, by its terms (or by the terms of any security or other
Equity Interest into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable, pursuant to a sinking fund obligations or otherwise (other than solely in
exchange or Qualified Equity Interests), (b) is redeemable at the option of the holder thereof, in whole or in part (other than solely in exchange or Qualified Equity Interests), (c) provides for the scheduled payments of dividends in cash
or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interest that would constitute Disqualified Equity Interests, in each case, on or prior to the 91st
day following the Term B Loan Maturity Date; provided that (i) any Equity Interests that would constitute Disqualified Equity Interests solely because the holders thereof have the right to require the Parent Borrower to repurchase such
Disqualified Equity Interests upon the occurrence of a change of control or asset sale shall not constitute Disqualified Equity Interests if the terms of such Equity Interests (and all securities into which it is convertible or for which it is
ratable or exchangeable) provide that the Parent Borrower may not repurchase or redeem any such Equity Interests (and all securities into which it is convertible or for which it is ratable or exchangeable) pursuant to such provision unless the Loan
Obligations are fully satisfied simultaneously therewith and (ii) only the portion of the Equity Interests meeting one of the foregoing clauses (a) through (d) prior to the date that is 91 days after the Term B Loan
Maturity Date will be deemed to be Disqualified Equity Interests. 

  
 CREDIT AGREEMENT, Page 16 

 “Disqualified Institution” means (i) those Persons that are competitors of
the Parent Borrower or its subsidiaries and (ii) such other Persons, in each case, identified in writing to the Administrative Agent prior to the Effective Date (in each case, together with any Person that is reasonably identifiable solely on
the basis of or by similarity of name as an Affiliate of any Person set forth in clauses (i) and (ii)); provided that the Parent Borrower, upon at least two (2) Business Days’ prior written notice to the
Administrative Agent (at the email address provided for such updates in Section 10.01) after the Effective Date shall be permitted to supplement in writing the list of Persons that are Disqualified Institutions to the extent such
supplemented Person is (A) a competitor, (B) an Affiliate of a competitor (other than an Affiliate that is a Bona Fide Debt Fund, unless such Person is otherwise a Disqualified Institution under clause (ii) above) or
(C) an Affiliate of a Person identified in clause (ii) above; provided further that (x) no such supplement shall apply retroactively to disqualify any Persons that have previously acquired an assignment or
participation in the Loans or Commitments hereunder, in each case prior to it being added to such list and (y) Disqualified Institutions shall not include any Person that the Borrower has designated as no longer being a “Disqualified
Institution” by written notice delivered to the Administrative Agent from time to time pursuant to Section 10.01. 

“Documentation Agents” has the meaning set forth in the preamble hereto, and also includes the financial institutions
identified as “Documentation Agents” in the
FourthFifth Amendment. 
 “dollars” or “$” refers to lawful money of the
United States of America. 
 “Dollar Equivalent” means, at any date of determination, (a) with respect to any amount
denominated in dollars, such amount, and (b) with respect to any amount denominated in any currency other than dollars, the equivalent amount thereof in dollars as determined by the Administrative Agent at such time on the basis of the Spot
Rate in effect on such date for the purchase of dollars with such currency. The Dollar Equivalent at any time of the amount of any Letter of Credit, LC Disbursement or Loan denominated in an Alternative Currency shall be the amount most recently
determined as provided in Section 1.06. 
 “Domestic Loan Party” means the Parent Borrower and each other Loan
Party that is a Domestic Subsidiary. 
 “Domestic Subsidiary” means a Subsidiary organized under the laws of a jurisdiction
located in the United States of America. 
 “Domestic Subsidiary Loan Party” means a Loan Party that is a Domestic
Subsidiary. 
 “Dutch Borrowers” means the Dutch Parent Borrower and the Dutch Subsidiary Borrowers. 

“Dutch Civil Law” means the Dutch Civil Code (Burgerlijk Wetboek). 

“Dutch FSA” means the Financial Supervision Act (Wet op het financieel toezicht), including any regulations issued
pursuant thereto. 
 “Dutch Obligor” means any Dutch Subsidiary that is a party to a Loan Document governed by the laws of
The Netherlands providing for granting of a Lien. 
 “Dutch Parent Borrower” means Darling International NL Holdings B.V.,
a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid), organized under the laws of The Netherlands. 

  
 CREDIT AGREEMENT, Page 17 

 “Dutch Subsidiary” means any Subsidiary incorporated in The Netherlands. 

“Dutch Subsidiary Borrowers” means Darling Ingredients International Holding B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of The
Netherlands and Darling Ingredients International Financial Services B.V. a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid)
organized under the laws of The Netherlands. 
 “EBITDA”
means, for any period and any Person, the total of the following each calculated without duplication on a consolidated basis for such period: 

(a) Consolidated Net Income; plus  

(b) any provision for (or less any benefit from) income, franchise and similar taxes (including taxes in lieu thereof)
included in determining Consolidated Net Income (including such taxes arising out of examinations (including interest and penalties)); plus  

(c) interest expense (including the interest portion of Capital Lease Obligations) deducted in determining Consolidated Net
Income; plus  
 (d) amortization and depreciation expense deducted in determining Consolidated Net Income; plus
 
 (e) to the extent not disregarded in the calculation of Consolidated Net Income, non-cash charges, expenses or
deductions; plus  
 (f) the amount of any fee, cost, expense or reserve to the extent actually reimbursed or
reimbursable by third parties pursuant to indemnification or reimbursement provisions or similar agreements or insurance; provided that, such Person in good faith expects to receive reimbursement for such fee, cost, expense or reserve within
the next four fiscal quarters (it being understood that to the extent not actually received within such fiscal quarters, such reimbursement amounts shall be deducted in calculating EBITDA for such fiscal quarters); plus  

(g) the amount of any expense or deduction associated with any subsidiary of such Person attributable to non-controlling
interests or minority interests of third parties; plus 
 (h) the amount of loss on Dispositions of rReceivables
 and related aAssets in connection with a Receivables Facility (including Dispositions to any
Receivables Subsidiary) and in connection with any incentive, supplier finance or similar program entered into in the ordinary course of business; plus  

(i) proceeds of business interruption insurance in an amount representing the earnings for the applicable period that such
proceeds are intended to replace (whether or not received so long as such Person in good faith expects to receive the same within the next four fiscal quarters (it being understood that to the extent not actually received within such fiscal
quarters, such proceeds shall be deducted in calculating EBITDA for such fiscal quarters)); plus 
 (j) earn-out
obligations incurred in connection with any acquisition or other Investment permitted pursuant to Section 6.04 and paid or accrued during such period and on similar acquisitions and Investments completed prior to the Effective Date. 

  
 CREDIT AGREEMENT, Page 18 

 “EEA Financial Institution” means (a) any institution 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 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” means the date on which the conditions specified in Section 4.01 are satisfied (or waived in
accordance with Section 10.02). 
 “Effective Yield” means, as to any Indebtedness, the effective yield on such
Indebtedness in the reasonable determination of the Administrative Agent in consultation with the Parent Borrower and consistent with generally accepted financial practices, taking into account the applicable interest rate margins, any interest rate
floors (the effect of which floors shall be determined in a manner set forth in the proviso below) or similar devices, any amendment to the relevant interest rate margins and interest rate floors prior to the applicable date of determination and all
upfront or similar fees or original issue discount (converted to yield assuming the shorter of (i) the weighted average life of the applicable Indebtedness at the time such Indebtedness was incurred and (ii) a four-year life and, in each
case, without any present value discount) generally paid or payable to the providers of such Indebtedness, but excluding any arrangement, commitment, amendment, structuring and underwriting fees paid or payable to the arranger (or its Affiliates) of
such Indebtedness in their capacities as such (regardless of whether any such fees are paid to or shared in whole or part with any lender) and any other fee (including, if applicable, ticking fees) not generally paid to all lenders ratably;
provided that with respect to any Indebtedness that includes (1) an interest rate floor greater than the interest rate floor applicable to the Term B Loans outstanding on the
FourthFifth Amendment Date, such increased amount shall be equated to the applicable interest rate margin for purposes of determining Effective Yield solely to the extent an increase in the interest rate floor for such
existing Term B Loans would cause an increase in the interest rate then in effect thereunder and (2) an interest rate floor lower than the interest rate floor applicable to the Term B Loans outstanding on the FourthFifth Amendment Date or does not include any interest rate floor, to the extent a reduction (or elimination) in the interest rate floor for such existing Term B Loans would cause a reduction in the interest rate
then in effect thereunder, an amount equal to the difference between the interest rate floor applicable to such Term B Loans and the interest rate floor applicable to such Indebtedness (which shall be deemed to equal 0% for any Indebtedness
without any interest rate floor), shall reduce the applicable interest rate margin of the applicable Indebtedness for purposes of determining Effective Yield. 

“Eligible Assignee” means any Person that meets the requirements to be an assignee under Section 10.04(b)
(subject to receipt of such consents, if any, as may be required for the assignment of the applicable Loans and/or Commitments to such Person under Section 10.04(b)(i) and (ii)); provided that in any event, “Eligible
Assignee” shall not include (i) any natural person, (ii) any Defaulting Lender, (iii) subject to the terms of Section 10.04(f), any Disqualified Institution or (iv) except as set forth in
Section 10.04(e), the Parent Borrower or its Subsidiaries. 

  
 CREDIT AGREEMENT, Page 19 

 “EMU Legislation” means the legislative measures of the European Union relating
to Economic and Monetary Union. 
 “Environmental Laws” means all laws (including common law), rules, regulations, codes,
ordinances, orders, decrees, judgments, injunctions, notices, binding agreements or other legally enforceable requirements issued, promulgated or entered into by any Governmental Authority, regulating, relating in any way to or imposing standards of
conduct concerning the environment, preservation or reclamation of natural resources or health and safety as it relates to environmental protection. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of any Person 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) the release of any Hazardous Materials into the environment or (d) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

 “Equity Accretive Investment” has the meaning set forth in Section 6.04(l). 

“Equity Interests” means shares of the capital stock, partnership interests, membership interest in a limited liability
company, beneficial interests in a trust or other equity interests or any warrants, options or other rights to acquire such interests but excluding any debt securities convertible into such Equity Interests. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

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

“ERISA Event” means (a) any Reportable Event; (b) the existence with respect to any Plan of a non-exempt Prohibited
Transaction; (c) any failure by any Pension Plan to satisfy the minimum funding standards (within the meaning of Sections 412 or 430 of the Code or Section 302 of ERISA) applicable to such Pension Plan, whether or not waived; (d) the
filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Pension Plan, the failure to make by its due date a required installment under
Section 430(j) of the Code with respect to any Pension Plan or the failure by any Loan Party or any of its ERISA Affiliates to make any required contribution to a Multiemployer Plan; (e) the incurrence by any Loan Party or any of its ERISA
Affiliates of any liability under Title IV of ERISA with respect to the termination of any Pension Plan, including but not limited to the imposition of any Lien in favor of the PBGC or any Pension Plan; (f) a determination that any Pension Plan
is, or is reasonably expected to be, in “at risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA); (g) the receipt by any Loan Party or any of its ERISA Affiliates from the PBGC or a plan
administrator of any notice relating to an intention to terminate any Pension Plan or to appoint a trustee to administer any Pension Plan under Section 4042 of ERISA; (h) the incurrence by any Loan Party or any of its ERISA Affiliates of
any liability with respect to the withdrawal or partial withdrawal from any Pension Plan or Multiemployer Plan; (i) the failure by any Loan Party or any of its ERISA Affiliates to make any required contribution to a Multiemployer Plan pursuant
to Sections 431 or 432 of the Code; (j) the receipt by any Loan Party or any of its ERISA 

  
 CREDIT AGREEMENT, Page 20 

 
Affiliates of any notice, or the receipt by any Multiemployer Plan from a Loan Party or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination
that a Multiemployer Plan is, or is expected to be, Insolvent, in Reorganization or in endangered or critical status (within the meaning of Section 432 of the Code or Section 305 of ERISA) or (k) with respect to any Foreign Benefit
Plan, (A) the failure to make or remit any employer or employee contributions required by applicable law or by the terms of such Foreign Benefit Plan; (B) the failure to register or loss of registration in good standing with applicable
regulatory authorities of any such Foreign Benefit Plan required to be registered; or (C) the failure of such Foreign Benefit Plan to comply with any material provisions of applicable law or regulations or with the material terms of such
Foreign Benefit Plan. 
 “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” or “€” means
the single currency of the Participating Member States introduced in accordance with the EMU Legislation. 
 “Euro Swingline
Rate” shall mean, the interest rate per annum (rounded upwards, if necessary, to the next 1/100th of 1.0%) at which overnight deposits 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 London interbank market for Euro to major banks in the London interbank market. 

“Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate but does not include any Loan or Borrowing bearing interest at a rate determined by reference to clause (c) of the definition of the term
“Alternative Base Rate”. 
 “Event of Default” has the meaning set forth in Section 8.01. 

“Excess Cash Flow” means, for any period, the sum (without duplication) of: (a) EBITDA of the Parent Borrower and the
Restricted Subsidiaries; minus (b) the sum of the following: (i) cash interest expense added in determining such EBITDA; (ii) cash taxes added in determining such EBITDA; (iii) the principal portion of required and
voluntary repayments of Indebtedness (other than voluntary repayments on the Loans); (iv) the un-financed portion of all Capital Expenditures; (v) the un-financed cash portion of any Investments permitted by Section 6.04 (other
than Investments in cash and Permitted Investments or in the Parent Borrower or any Restricted Subsidiary of the Parent Borrower); (vi) all Restricted Payments made under the permissions of Section 6.08 (other than clause
(ii) thereof to the extent paid to the Parent Borrower or one of its Restricted Subsidiaries); (vii) cash expenditures made in respect of Swap Agreements to the extent not reflected as a subtraction in the computation of Consolidated
Net Income or EBITDA (or, in either case, to the extent added thereto); (viii) cash payments by the Parent Borrower and its Restricted Subsidiaries during such period in respect of long-term liabilities of the Parent Borrower and its Restricted
Subsidiaries other than Indebtedness; (ix) the aggregate amount of expenditures actually made by the Parent Borrower and its Restricted Subsidiaries in cash during such period (including expenditures for the payment of financing fees and
pension contributions) to the extent that such expenditures are not expensed or deducted (or exceed the amount expensed or deducted) during such period; (x) the amount of cash taxes paid in such period to the extent they exceed the amount of
tax expense deducted in determining Consolidated Net Income for such period; and (xi) an amount equal to all expenses, charges and losses either (A) excluded in calculating Consolidated Net Income or (B) added back in calculating
Consolidated Adjusted EBITDA, in each case, to the extent paid or payable in cash. 

  
 CREDIT AGREEMENT, Page 21 

 
Expenditures shall be considered “un-financed” for purposes of this definition unless paid with the proceeds of long-term Indebtedness (other than revolving facilities including the
Revolving Loans). Any amounts subtracted from EBITDA pursuant to clauses (b)(v) or (b)(vii) above shall be net of any return of capital in respect such Investments or net of any payments received under any Swap Agreements, in each
case, to the extent not reflected in EBITDA. Any amounts subtracted from EBITDA pursuant to clause (b)(ix) above shall be added to EBITDA for the purposes of this Excess Cash Flow definition in the period when such expenditures are expensed
(if expensed). 
 “Excluded Subsidiary” means (i) any Subsidiary that is not a wholly-owned Subsidiary, (ii) any
Foreign Subsidiary other than Foreign Subsidiaries incorporated in Canada or any province thereof, Belgium, Brazil, Canada, Germany and The Netherlands and any other jurisdictions designated by the Parent Borrower (“Specified Foreign
Subsidiaries”), in each case subject to the other exclusions set forth in this definition, (iii) any Unrestricted Subsidiary, (iv) any subsidiary that is prohibited by applicable law, regulation or Contractual Obligation from
entering into (and providing the guarantees pursuant to) the Guaranty Agreement (including if it is not within the legal capacity of such Loan Party to do so (whether as a result of financial assistance, corporate benefit, works council advice or
thin capitalization rule or otherwise)) or that would require the consent, approval, license or authorization of a Governmental Authority in order to enter into (and provide the guarantees pursuant to) the Guaranty Agreement, (v) any Domestic
Subsidiary if substantially all of its assets consist of the debt or Equity Interests of one or more direct or indirect Foreign Subsidiaries (provided that, such Domestic Subsidiaries shall be required (subject to the other exceptions herein)
to Guarantee the Foreign Obligations, unless and until a United States Governmental Authority issues guidance treating any such Guarantee as an obligation of a United States person subject to Section 956 of the Code, in which event any such
guarantee shall be void ab initio and have no effect to the fullest extent provided by law) (vi) not-for-profit Subsidiaries, (vii) captive insurance Subsidiaries, (viii) any Immaterial Subsidiary, (ix) direct or indirect
Domestic Subsidiaries of any Foreign Subsidiary, (x) any Receivables Subsidiary and (xi) any Subsidiary to the extent that the burden, difficulty, consequence or cost of entering into (and providing the guarantees pursuant to) the
applicable Guaranty Agreement outweighs the benefit afforded thereby as reasonably determined by the Administrative Agent and the Parent Borrower; provided, that notwithstanding anything to the contrary contained in this Agreement, no
Subsidiary shall be an “Excluded Subsidiary” if such Subsidiary enters into, or is required to enter into, a guarantee of (or becomes, or is required to become, a borrower or other obligor under) any obligations of the Parent Borrower or
any Domestic Subsidiary thereof under any
NewExisting Senior Unsecured Notes, Pari Passu Notes, Incremental Equivalent Debt, Refinancing Notes or any Refinancing Junior Loans or any Permitted Refinancing of any such NewExisting Senior Unsecured Notes, Pari Passu Notes, Incremental Equivalent Debt, Refinancing Notes or any Refinancing Junior Loans, in each case, to the extent then outstanding. 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the Issuing Bank or any other recipient of any
payment to be made by or on account of any obligation of the Loan Parties hereunder, (a) income, franchise or similar taxes (including German trade taxes) imposed on (or measured by) its net income by the United States of America, or by the
jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in which it is doing business, or in which it had a present or former connection (other than such connection arising solely from any
Secured Party having executed, delivered, or performed its obligations or received a payment under, or enforced, any Loan Document) or, in the case of any Lender, in which its applicable lending office is located, (b) any branch profits taxes
imposed by the United States of America or any similar tax imposed by any other jurisdiction in which a Borrower is located, (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by a Borrower under
Section 2.19(b)), any United States withholding tax that is imposed on amounts payable to such Foreign Lender (including as a result of FATCA) at the time such 

  
 CREDIT AGREEMENT, Page 22 

 
Foreign Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to such Foreign Lender’s failure to comply with Section 2.17(f), except
to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from a Borrower with respect to such withholding tax pursuant to
Section 2.17(a), (d) in the case of a non-Foreign Lender (other than an assignee pursuant to a request by a Borrower under Section 2.19(b)), any United States backup withholding tax that is imposed on accounts payable to
such non-Foreign Lender at the time such non-Foreign Lender becomes a party to this Agreement, (e) any amounts paid or payable on “outstanding debts to specified non-residents” as defined in subsection 18(5) of the Income Tax Act
(Canada) which are recharacterized as a dividend under the provisions of the Income Tax Act (Canada), (f) Taxes under the laws of The Netherlands to the extent such Tax becomes payable as a result of a Lender or the Administrative Agent having
a substantial interest (aanmerkelijk belang) in a Dutch Borrower as laid down in The Netherlands Income Tax Act 2001 (Wet inkomsten belasting) and (g) all liabilities, penalties and interest with respect to any of the foregoing
excluded taxes. 
 “Existing Credit Agreement” has the meaning set forth in the preamble hereto. 

“Existing Senior Unsecured Notes” means the 5.375% senior unsecured notes due 2022 in an aggregate principal amount of $500,000,000 (as of the
Fourth Amendment Date) issued on January 2, 2014 by the Parent Borrower, as amended, restated, refinanced, replaced or otherwise modified from time to time so long as the principal amount (or accreted value, if applicable) of such amended,
restated, refinanced, replaced or modified Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so amended, restated, refinanced, replaced or modified plus unpaid accrued interest and premium
thereon, any committed or undrawn amounts and underwriting discounts, fees, commissions and expenses, associated with such amended, restated, refinanced, replaced or modified Indebtedness), except as otherwise permitted under Section 6.01,
(including any Permitted Refinancing Indebtedness in respect thereof). 
 “Existing
Senior Unsecured Notes Documents” means the indenture or similar agreement governing the Existing Senior
Unsecured Notes or any similar agreement relating to any Permitted Refinancing Indebtedness specifically designated as such
by the Parent Borrower in respect of the Existing Senior Unsecured
Notes. 
 “FATCA” means Sections 1471 through 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), any regulations or official interpretations thereof and any agreements entered into pursuant to
Section 1471(b)(1) of the Code . 
 “Federal Funds Effective Rate” means, for any day, the rate calculated by the
NYFRB based on such day’s federal funds transactions by depositary institutions (as determined in such manner as the NYFRB shall set forth on its public website from time to time) and published on the next succeeding Business Day by the NYFRB
as the federal funds effective rate; provided that, if the Federal Funds Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Fifth Amendment”
means that certain Fifth Amendment to the Second Amended and Restated Credit Agreement, among the Loan Parties party thereto, the Administrative Agent and the Lenders party thereto, dated December 18, 2017. 

“Fifth Amendment
Date” means December 18, 2017. 

  
 CREDIT AGREEMENT, Page 23 

 “Financial Covenant Event of Default” has the meaning set forth in
Section 8.01(d). 
 “Financial Covenants” means the covenants set forth in Sections 7.01 and
7.02. 
 “Financial Officer” means the chief financial officer, executive vice president of finance and
administration, principal accounting officer, treasurer or controller of, unless otherwise noted, the Parent Borrower (or any other officer acting in substantially the same capacity of the foregoing). 

“First Lien Leverage Ratio” means, as of any date of determination, the ratio of (a) Total Indebtedness secured by a
Lien which is on at least an equal priority basis (but without regard to the control of remedies) with the Liens securing the Credit Facilities outstanding on the
FourthFifth Amendment Date minus (i) all obligations, contingent or otherwise, of such Person as an account party in respect of the undrawn face amount of letters of credit, bankers acceptances or similar
instruments (including the Letters of Credit) outstanding as of such date and (ii) any such obligations described in clause (a)(i) which have been drawn and reimbursed within three (3) Business Days to (b) Adjusted EBITDA for
the four fiscal quarter period most recently ended. 
 “Fixed Amounts” has the meaning set forth in
Section 1.10(g). 
 “Foreign Benefit Plan” means each employee benefit plan (within the meaning of
Section 3(3) of ERISA, whether or not subject to ERISA) that is not subject to United States law and is sponsored, maintained or contributed to by any Loan Party or any ERISA Affiliate. 

“Foreign Borrower” means a Borrower that is not organized under the laws of a jurisdiction located in the United States of
America. 
 “Foreign Collateral Reallocation” has the meaning set forth in Section 5.10(b). 

“Foreign Currency Letter of Credit” means any Letter of Credit denominated in an Alternative Currency. 

“Foreign Deposit Obligations” means all Deposit Obligations to the extent the applicable Covered Party is a Foreign
Subsidiary. 
 “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than the United
States of America, any State thereof or the District of Columbia. 
 “Foreign Loan Party Obligations” means all
obligations, indebtedness, and liabilities of the Foreign Subsidiary Loan Parties, or any one of them, to the Administrative Agent and the Lenders arising pursuant to any of the Loan Documents or under any Ancillary Facilities Document, whether now
existing or hereafter arising, whether direct, indirect, related, unrelated, fixed, contingent, liquidated, unliquidated, joint, several, or joint and several, including, without limitation, the obligation of the Foreign Subsidiary Loan Parties to
repay the Foreign Borrowers’ Loans, LC Disbursements and loans and other disbursements under any Ancillary Facility Document, interest on such Loans, LC Disbursements and loans and other disbursements under any Ancillary Facility Document, and
all fees, costs, and expenses (including reasonable attorneys’ fees and expenses) arising therefrom and provided for in the Loan Documents or under any Ancillary Facilities Document. 

“Foreign Obligations” means the Foreign Loan Party Obligations, Foreign Swap Obligations and Foreign Deposit Obligations.

  
 CREDIT AGREEMENT, Page 24 

 “Foreign Security Agreement” means each security, pledge or similar agreement
pursuant to which the applicable Foreign Subsidiary Loan Party grants a Lien on any of its assets to secure the Foreign Loan Party Obligations (or if applicable in the case of Foreign Subsidiaries incorporated in Canada or a province of Canada, the
Obligations), in form and substance reasonably acceptable to the Administrative Agent. 
 “Foreign Subsidiary” means any
Subsidiary that is not a Domestic Subsidiary. 
 “Foreign Subsidiary Loan Party” means any Foreign Subsidiary that is a
Subsidiary Loan Party. 
 “Foreign Swap Obligations” means all Swap Obligations to the extent the applicable Covered Party
is a Foreign Subsidiary. 
 “Fourth Amendment” means that certain Fourth Amendment to the Second Amended and Restated
Credit Agreement, among the Loan Parties, the Administrative Agent and the Lenders party thereto, dated December 16, 2016. 

“Fourth Amendment Date” means December 16, 2016. 

“GAAP” means generally accepted accounting principles in the United States of America. 

“German Subsidiary Borrower” means Darling Ingredients Germany Holding GmbH, a limited liability company organized under the
laws of Germany. 
 “Governmental Authority” means the government of the United States of America, any other nation or any
political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government. 
 “Group” means the Parent Borrower or any Restricted Subsidiary. 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation (including any obligations under an operating lease) of any other Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or
supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation (including any obligations under an
operating lease) of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided, that the term Guarantee shall not include endorsements for collection or deposit
in the ordinary course of business. 
 “Guaranty Agreement” means (i) in the case of the Parent Borrower and any
Domestic Subsidiary Loan Party, the guaranty agreement of the Loan Parties in respect of the Obligations (and/or the Foreign Obligations as set forth therein) in the form of Exhibit B hereto and (ii) in the case of any Foreign Subsidiary
Loan Party, a guaranty agreement in a form substantially similar to Exhibit B giving effect to the Agreed Security Principles. 

  
 CREDIT AGREEMENT, Page 25 

 “Hazardous Materials” means any material, substance or waste regulated pursuant
to or that could give rise to liability under, or classified, characterized or regulated as “hazardous,” “toxic,” “radioactive” or a “pollutant” or contaminant under, Environmental Laws, including petroleum or
petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, and infectious or medical wastes. 

“Immaterial Subsidiary” means, any Restricted Subsidiary of the Parent Borrower, the EBITDA of which for the 4 fiscal quarter
period ended most recently, shall not exceed 5% of the EBITDA of the Parent Borrower and its Subsidiaries taken as a whole; provided the EBITDA of the Immaterial Subsidiaries, collectively, for the 4 fiscal quarter period ended most recently
prior to any date of determination shall not exceed 5% of the EBITDA of the Parent Borrower and its Subsidiaries taken as a whole. As of the Effective Date, Bio-Energy Products LLC, a Delaware limited liability company, has been designated as an
Immaterial Subsidiary. 
 “Increased Amount Date” has the meaning set forth in Section 2.20(a). 

“Incremental Amount” means, at any time, 

(a) $300,000,000 (the “Fixed Incremental Amount”) plus 

(b) unlimited amounts if, after giving effect to the incurrence of any Incremental Facilities (which for this purpose will be deemed to include
the full amount of any Incremental Revolving Facility assuming the full amount of such increase had been drawn and/or the full amount of such facility was drawn), the Parent Borrower is in compliance, on a Pro Forma Basis, (i) if such
Incremental Facility or Incremental Equivalent Debt is secured by a Lien that is pari passu with the Lien on the Collateral securing the Credit Facilities outstanding on the
FourthFifth Amendment Date, the First Lien Leverage Ratio does not exceed 4.00:1.00, (ii) if such Incremental Facility or Incremental Equivalent Debt is secured by a Lien that is junior to the Lien on the Collateral
securing the Credit Facilities outstanding on the
FourthFifth Amendment Date, the Secured Leverage Ratio does not exceed 4.00:1.00 and (iii) if such Incremental Facility or Incremental Equivalent Debt is unsecured, the Total Leverage Ratio does not exceed 5.50:1.00
(the “Ratio-Based Incremental Amount”) plus 
 (c)(i) the amount of any optional prepayment of any Term Loan in
accordance with Section 2.11(a) and/or the amount of any permanent reduction of any Revolving Commitment (and any other commitment established hereunder after the
FourthFifth Amendment Date, other than a permanent reduction as the result of the funding of such commitment), (ii) the amount paid in cash in respect of any reduction in the outstanding amount of any Term Loan
resulting from any assignment of such Term Loan to (and/or purchase of such Term Loan by) the Parent Borrower or any Restricted Subsidiary so long as the relevant prepayment or assignment and/or purchase was not funded with the proceeds of any
long-term Indebtedness (other than revolving Indebtedness) incurred by the Parent Borrower or its Restricted Subsidiaries and (iii) in the case of any Incremental Facility that effectively replaces any Revolving Commitment (and any other
commitment established hereunder after the
FourthFifth Amendment Date, prior to the funding of such commitment) terminated or any Term Loan repaid pursuant to Section 2.19, an amount equal to the relevant terminated Revolving Commitment or such other
commitment or Term Loans so prepaid; 
 it being understood and agreed that unless the Parent Borrower otherwise notifies the Administrative Agent
(w) the Parent Borrower shall be deemed to have used amounts under clause (c) prior to utilization of amounts under clause (a) or (b), (x) if all or any portion of the Incremental Facility and/or Incremental
Equivalent Debt would be permitted under clause (b) of this definition on the applicable date of 

  
 CREDIT AGREEMENT, Page 26 

 
determination, such Incremental Facility and/or Incremental Equivalent Debt shall be deemed to have been incurred in reliance on clause (b) of this definition prior to the utilization
of any amount available under clause (a) and (y) amounts may be incurred under both clauses (a) and (b), and proceeds from any such incurrence may be utilized in a single transaction by first calculating the
incurrence under clause (b) above and then calculating the incurrence under clause (a) above. 
 For the avoidance of doubt, the
amount in clauses (a) and (c) above shall be reduced by the aggregate amount of all Incremental Term Loans made plus all Incremental Revolving Commitments established prior to such time pursuant to Section 2.20(a)
and any Indebtedness incurred under Section 6.01(bb), in each case in reliance on such clause (a) or (c), as applicable. 

“Incremental Assumption Agreement” means an Incremental Assumption Agreement in form and substance reasonably satisfactory to
the Administrative Agent and the Parent Borrower, among the applicable Borrower(s), the Administrative Agent and one or more Incremental Term Lenders and/or Incremental Revolving Lenders. 

“Incremental Equivalent Debt” has the meaning set forth in Section 6.01(bb). 

“Incremental Facility” means any facility established by the Lenders pursuant to Section 2.20. 

“Incremental Facility Activation Notice” means a notice substantially in the form of Exhibit E. 

“Incremental Loans” has the meaning set forth in Section 2.20(a). 

“Incremental Revolving Commitment” means the Revolving Commitment, or if applicable, additional revolving commitments under
this Agreement, of any Lender, established pursuant to Section 2.20, to make Incremental Revolving Loans (and other revolving credit exposure available) to a Borrower. 

“Incremental Revolving Facility” has the meaning set forth in Section 2.20(a) 

“Incremental Revolving Lender” means a Lender with an Incremental Revolving Commitment or an outstanding Incremental
Revolving Loan. 
 “Incremental Revolving Loans” means the Revolving Loans made by one or more Lenders to a Borrower
pursuant to Section 2.20. 
 “Incremental Term Facility” has the meaning set forth in
Section 2.20(a). 
 “Incremental Term Lender” means each Lender which holds an Incremental Term Loan. 

“Incremental Term Loans” means the Term Loans made by one or more Lenders to a Borrower pursuant to Section 2.20.

 “Incurrence-Based Amounts” has the meaning set forth in Section 1.10(g). 

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

  
 CREDIT AGREEMENT, Page 27 

 
agreements with suppliers in the ordinary course of business); (d) all obligations of such Person in respect of the deferred purchase price of property (excluding (i) accrued expenses,
trade payables or similar obligations, (ii) earn-out or similar obligations until such obligation becomes a liability on the balance sheet (other than footnotes thereto) in accordance with GAAP and is not paid within thirty (30) days of
the date when due and (iii) in connection with purchase price hold-backs in the ordinary course of business) which purchase price is due more than six months after the date of placing such property in service or taking delivery of title
thereto; (e) all Indebtedness of others secured by any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed; provided that the amount of such Indebtedness will be the lesser
of (i) the fair market value of such asset as determined by such Person in good faith on the date of determination and (ii) the amount of such Indebtedness of other Persons; (f) all Capital Lease Obligations of such Person;
(g) all obligations, contingent or otherwise, of such Person as an account party relative to the face amount in respect of letters of credit, bankers’ acceptances or other similar instruments; (h) all obligations of such Person in
respect of mandatory redemption or cash mandatory dividend rights on Disqualified Equity Interests; (i) all obligations of such Person under any Swap Agreement; and (j) all Guarantees by such Person in respect of the foregoing clauses
(a) through (i). The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such
Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. The amount of the obligations of any Person in respect of any Swap
Agreement shall, at any time of determination and for all purposes under this Agreement, be the maximum aggregate amount (giving effect to any netting agreements) that any Person would be required to pay if such Swap Agreement were terminated at
such time giving effect to current market conditions notwithstanding any contrary treatment in accordance with GAAP. For purposes of clarity and avoidance of doubt, (i) any joint and several tax liabilities arising by operation of consolidated
return, fiscal unity or similar provisions of applicable law shall not constitute Indebtedness for purposes hereof and (ii) obligations which would otherwise constitute Indebtedness but which have been cash collateralized or amounts for the
repayment thereof placed in escrow or otherwise deposited in defeasance or discharge of such obligations shall not constitute Indebtedness to the extent of such cash collateral or amounts escrowed or otherwise deposited in defeasance or discharge
thereof. 
 “Indemnified Taxes” means Taxes other than Excluded Taxes. 

“Insolvent” with respect to any Multiemployer Plan, means the condition that such Plan is insolvent within the meaning of
Section 4245 of ERISA. 
 “Interest Charges” means for any period, the sum of the following for the Parent Borrower
and the Restricted Subsidiaries calculated on a consolidated basis in accordance with GAAP without duplication for such period: (a) the aggregate amount of interest, including payments in the nature of interest under Capital Lease Obligations,
paid in cash but excluding (i) any non-cash interest expense attributable to the movement in the mark to market valuation of Swap Agreements or other derivative instruments pursuant to GAAP, amortization of deferred financing fees, debt
issuance costs, commissions, fees and expenses, (ii) any expensing of bridge, commitment and other financing fees, (iii) costs in connection with the Original Transactions and the Transactions and any annual administrative or other agency
fees and (iv) any discount, yield and/or interest component in respect of (A) any Receivables Facility (or portion thereof) representing an aggregate principal amount of
obligations of $75,000,000Indebtedness of $150,000,000 or less
and/or (B) any incentive, supplier finance or similar program entered into in the ordinary course of business; plus (b) on a pro forma basis calculated in the manner described in Section 1.10, the Interest Charges
pursuant to clause (a) above of 

  
 CREDIT AGREEMENT, Page 28 

 
each Prior Target (or, as applicable, the Interest Charges pursuant to clause (a) above of a Prior Target specifically attributable to the assets acquired from such Prior Target and
continuing after such acquisition), with pro forma adjustment thereto to reflect the incurrence of any additional or replacement Indebtedness in connection with the acquisition of such Prior Target or assets (determined at the prevailing interest
rate on such Indebtedness on the date incurred) and the payment of any Indebtedness of such Prior Target in connection with such acquisition, for any portion of such period occurring prior to the date of the acquisition of such Prior Target (or the
related assets, as the case may be); minus (c) the Interest Charges of each Prior Company pursuant to clause (a) above and, as applicable but without duplication, the Interest Charges pursuant to clause (a) above
of the Parent Borrower and each Restricted Subsidiary specifically attributable to all Prior Assets, with pro forma adjustment thereto to reflect the assumption, repayment or retirement of Indebtedness of the Parent Borrower or its Restricted
Subsidiaries in connection with the disposal of such Prior Company or Prior Assets, in each case for any portion of such period occurring prior to the date of the disposal of such Prior Companies or Prior Assets and calculated in the manner
described in Section 1.10. 
 “Interest Coverage Ratio” means, as of the end of any fiscal quarter, the ratio
of: 
 (a) Adjusted EBITDA for Parent Borrower and the Restricted Subsidiaries calculated on a consolidated basis in
accordance with GAAP for the period of four (4) consecutive fiscal quarters then ended, to 
 (b) Interest Charges for
the period of four (4) consecutive fiscal quarters then ended. 
 “Interest Election Request” means a request by the
applicable Borrower to convert or continue a Revolving Borrowing or Term Borrowing in accordance with Section 2.07. 

“Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swingline Loan), the last day of each
March, June, September and December, (b) with respect to any Eurodollar Loan or CDOR Rate Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing or CDOR Rate
Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period, and (c) with
respect to any Swingline Loan, the day that such Loan is required to be repaid. 
 “Interest Period” means with respect to
any Eurodollar Borrowing or CDOR Rate Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months thereafter, as the applicable Borrower
may elect or twelve months if requested by the applicable Borrower and available to from all applicable Lenders, provided, that (a) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be
extended to the next succeeding Business Day unless, such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day and (b) any Interest Period that
commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such
Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 

“Interpolated Rate” has the meaning set forth in the definition of “LIBO Rate”. 

  
 CREDIT AGREEMENT, Page 29 

 “Investment” has the meaning set forth in Section 6.04. 

“Issuing Bank” means JPMorgan Chase Bank, N.A., and, with respect to any Letters of Credit described on Schedule 1.01
and outstanding on the Effective Date, PNC Bank, N.A., Comerica Bank, TD Bank, N.A., each in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.05(i). The Issuing Bank
may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank and the Borrowers may, in their discretion, arrange for one or more Letters of Credit to be issued by one or more of the other Revolving
Lenders. In the event an Affiliate or other Revolving Lender issues a Letter of Credit hereunder under the terms of the foregoing sentence, the term “Issuing Bank” shall include any such Affiliate or Revolving Lender with respect to
Letters of Credit issued by such Affiliate or Revolving Lender, as applicable. 
 “Judgment Currency” has the meaning set
forth in Section 1.06(h). 
 “Latest Maturity Date” means, as of any date of determination, the latest maturity
or expiration date applicable to any Loan or commitment hereunder at such time, including the latest maturity or expiration date of any then existing Term Loan, Incremental Term Loan, Revolving Commitment, Incremental Revolving Commitment,
Refinancing Note or Refinancing Junior Loan. 
 “LC Disbursement” means a payment made by the Issuing Bank pursuant to a
Letter of Credit. 
 “LC Exposure” means, at any time, the sum of (a) the Dollar Equivalent of the aggregate undrawn
amount of all outstanding Letters of Credit at such time plus (b) the Dollar Equivalent of the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrowers at such time. The LC Exposure of any
Revolving Lender at any time shall be its Applicable Percentage (or in the case of Letters of Credit denominated in an Alternative Currency, USD/Multicurrency Applicable Percentage) of the total LC Exposure at such time. 

“LC Reserve Account” has the meaning set forth in Section 11.02(a). 

“LCA Election” has the meaning set forth in Section 1.10(c). 

“LCA Test Time” has the meaning set forth in Section 1.10(c). 

“Lenders” means (a) for all purposes, the Persons listed on Schedule 2.01 and any other Person that shall have
become a party hereto pursuant to an Incremental Assumption Agreement or an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption or otherwise and (b) for purposes of the
definitions of “Swap Obligations”, “Deposit Obligations” and “Secured Parties” only, shall include any Person who was a Lender or an Affiliate of a Lender at the time a Swap Agreement or Deposit Obligation was entered
into by one or more of the Covered Parties, even though, at a later time of determination, such Person no longer holds any Commitments or Loans hereunder. Unless the context otherwise requires, the term “Lenders” includes the Swingline
Lender. As a result of clause (b) of this definition, the Swap Obligations and Deposit Obligations owed to a Lender or its Affiliates shall continue to be “Swap Obligations” and “Deposit Obligations”, respectively,
entitled to share in the benefits of the Collateral as herein provided, even though such Lender ceases to be a party hereto pursuant to an Assignment and Assumption or otherwise. 

“Letter of Credit” means any letter of credit issued pursuant to this Agreement and any letter of credit described on
Schedule 1.01 and outstanding on the Effective Date. 

  
 CREDIT AGREEMENT, Page 30 

 “LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest
Period, (i) to the extent denominated in dollars, the London interbank offered rate as administered by the British Bankers AssociationICE Benchmark Administration (or any other Person that takes over the administration of
such rate) for dollars for a period equal in length to such Interest Period as displayed on pages LIBOR01 or LIBOR02 of the Reuters Screen, (ii) to the extent denominated in Euro, the euro interbank offered rate administered by the Banking
Federation of the European Union (or any other person which takes over the administration of that rate) for the relevant period displayed on page EURIBOR01 of the Reuters screen and (iii) to the extent denominated in any Alternative Currency
(other than Canadian Dollars), the London interbank offered rate as administered by the British Bankers AssociationICE Benchmark Administration (or any other Person that takes over the administration of
such rate) for such currency for a period equal in length to such Interest Period as displayed on the applicable Reuters Screen; (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such
screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion; in each case, the “Screen
Rate”) at approximately 11:00 A.M., London time, two (2) Business Days prior to the commencement of such Interest Period (or, with respect to Borrowings in Sterling, on the first Business Day of such Interest Period); provided,
that, if the Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”) with respect to the applicable currency, then the LIBO Rate shall be the Interpolated Rate at such time.
“Interpolated Rate” means, at any time, the rate per annum determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on
a linear basis between: (a) the Screen Rate for the longest period (for which that Screen Rate is available in the applicable currency) that is shorter than the Impacted Interest Period and (b) the Screen Rate for the shortest period (for
which that Screen Rate is available for the applicable currency) that exceeds the Impacted Interest Period, in each case, at such time; provided that if the LIBO Rate (or any Interpolated Rate) is less than zero, such rate shall be deemed
zero for purposes of this Agreement; provided further that
solely with respect to Term B Loans the LIBO Rate shall not be less than 0.75%. 

“Lien” means any mortgage, pledge, security interest, encumbrance, hypothecation, lien or charge of any kind in the nature of
security (including any conditional sale agreement, title retention agreement or lease in the nature thereof); provided that in no event shall an operating lease be deemed to constitute a Lien. 

“Limited Condition Acquisition” means any acquisition or similar Investment permitted pursuant to this Agreement the
consummation of which is not conditioned on the availability of, or on obtaining, third party financing, other than any acquisition of, or similar Investment in, any Unrestricted Subsidiary. 

“Loan Documents” means this Agreement, the Guaranty Agreement, the U.S. Security Agreement, the Canadian Security Agreement,
any promissory note delivered pursuant to Section 2.09(e) and any other document or instrument designated by the Parent Borrower and the Administrative Agent as a “Loan Document”. 

“Loan Obligations” means all obligations, indebtedness, and liabilities of the Loan Parties, or any one of them, to the
Administrative Agent and the Lenders arising pursuant to any of the Loan Documents or under any Ancillary Facility Document, whether now existing or hereafter arising, whether direct, indirect, related, unrelated, fixed, contingent, liquidated,
unliquidated, joint, several, or joint and several, including, without limitation, the obligation of the Loan Parties to repay the Loans, the LC Disbursements and loans and other disbursements under any Ancillary Facility Document, interest on the
Loans, LC Disbursements and loans and other disbursements under any Ancillary Facility Document, and all fees, costs, and expenses (including reasonable attorneys’ fees and expenses) provided for in the Loan Documents or under any Ancillary
Facility Document. 

  
 CREDIT AGREEMENT, Page 31 

 “Loan Parties” means, collectively, the Borrowers and the Subsidiary Loan
Parties. 
 “Loans” means the loans made by the Lenders to the Borrowers pursuant to this Agreement. 

“Local Time” means, with respect to any extensions of credit hereunder denominated in dollars, Chicago time, with respect to
any extensions of credit hereunder denominated in Canadian Dollars, Toronto time, with respect to any extensions of credit hereunder denominated in Euro, London time and with respect to any extensions of credit hereunder denominated in any other
Alternative Currency, as agreed by the Administrative Agent and the Parent Borrower. 
 “Material Adverse Effect” means a
material and adverse effect on (a) the business, assets, property, financial condition or results of operations of the Parent Borrower and the Restricted Subsidiaries, taken as a whole, (b) the validity or enforceability of any of the Loan
Documents or (c) the rights of or remedies available to the Administrative Agent or any of the Lenders under any Loan Document. 

“Material Indebtedness” means Indebtedness (other than the Loans and Letters of Credit but including, without limitation,
obligations in respect of one or more Swap Agreements) of any one or more of the Parent Borrower and the Restricted Subsidiaries with an aggregate outstanding principal amount (or termination value payable by the Parent Borrower or any Restricted
Subsidiary) exceeding $75,000,000. 
 “Moody’s” means Moody’s Investors Service, Inc., or any successor to the
rating agency business thereof. 
 “Multicurrency LC Exposure” means, at any time, the sum of (a) the Dollar
Equivalent of the aggregate undrawn amount of all outstanding Letters of Credit denominated in Alternative Currencies at such time plus (b) the Dollar Equivalent of the aggregate amount of all LC Disbursements in respect of such Letters of
Credit denominated in Alternative Currencies that have not yet been reimbursed by or on behalf of any of the Borrowers at such time. The Multicurrency LC Exposure of any Revolving Lender at any time shall be its USD/Multicurrency Applicable
Percentage of the total Multicurrency LC Exposure at such time. 

“Multicurrency Revolving Exposure” means, at any time, the sum of (a) the Dollar Equivalent
of the principal amount of the Multicurrency Revolving Loans outstanding at such time, (b) the Multicurrency LC Exposure outstanding at such time and (c) the Dollar Equivalent of the principal amount of the Swingline Loans denominated in
Canadian Dollars and/or Euro outstanding at such time. 

“Multicurrency Revolving Loans” means the revolving loans denominated in Alternative Currencies made by Lenders holding
USD/Multicurrency Revolving Commitments under Section 2.01. 

“Multicurrency Revolving Sublimit” means $500,000,000. 
 “Multiemployer Plan” means a multiemployer plan as defined in
Section 4001(a)(3) of ERISA. 
 “Net Proceeds” means, with respect to any Prepayment Event (or, for purposes of the
Available Amount, the issuance of Equity Interests) (a) the cash proceeds received in respect of such event including (i) any cash received in respect of any non-cash proceeds, but only as and when
received, (ii) in 

  
 CREDIT AGREEMENT, Page 32 

 
the case of a casualty, insurance proceeds, and (iii) in the case of a condemnation or similar event, condemnation awards and similar payments, net of (b) the sum of (i) all fees
and out-of-pocket expenses (including underwriting discounts, investment banking fees, commissions, collection expenses and other customary transaction costs) paid or
reasonably estimated to be payable by the Parent Borrower and the Restricted Subsidiaries in connection with such event, (ii) in the case of a Disposition of an asset (including pursuant to a sale and leaseback transaction or a casualty or a
condemnation or similar proceeding), the amount of all payments made by the Parent Borrower and the Restricted Subsidiaries as a result of such event to repay Indebtedness (other than Loans) secured by such asset or otherwise subject to mandatory
prepayment as a result of such event, and (iii) the amount of all taxes paid (or reasonably estimated to be payable) by the Parent Borrower and the Restricted Subsidiaries, and the amount of any reserves established by the Parent Borrower and
the Restricted Subsidiaries to fund contingent liabilities reasonably estimated to be payable, in each case that are directly attributable to such event (as determined reasonably and in good faith by a Financial Officer of the Parent Borrower). 

“New Senior Unsecured Notes” means the 5.375% senior unsecured notes due 2022 in an aggregate principal amount of $500,000,000 (as of the Fourth Amendment Date) issued on January 2, 2014 by the Parent
Borrower, as amended, restated, refinanced, replaced or otherwise modified from time to time so long as the principal amount (or accreted value, if applicable) of such amended, restated, refinanced, replaced or modified Indebtedness does not exceed
the principal amount (or accreted value, if applicable) of the Indebtedness so amended, restated, refinanced, replaced or modified plus unpaid accrued interest and premium thereon, any committed or undrawn amounts and underwriting discounts, fees,
commissions and expenses, associated with such amended, restated, refinanced, replaced or modified Indebtedness), except as otherwise permitted under
Section 6.01, (including any Permitted Refinancing Indebtedness in
respect thereof). 
 “New
Senior Unsecured Notes Documents” means the indenture or similar
agreement governing the New Senior Unsecured Notes or any similar agreement relating
to any Permitted Refinancing Indebtedness specifically designated as such by the Parent Borrower in respect of the New Senior Unsecured Notes. 
 “Non-consenting Lender” has the meaning set forth in
Section 2.19(b). 
 “NYFRB” means the Federal Reserve Bank of New York. 

“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and
(b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if none of such rates are published for any day that is a Business Day, the
term “NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 a.m. (New York City time) on such day received to the Administrative Agent from a Federal funds broker of recognized standing selected by it; provided,
further, that if any of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Obligations” means all Loan Obligations, the Swap Obligations and all Deposit Obligations. 

“OFAC” has the meaning set forth in Section 3.18(b). 

“Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight eurodollar
borrowings by U.S.-managed banking offices of depository institutions (as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time) and published on the next succeeding Business Day by the NYFRB as an
overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate). 

  
 CREDIT AGREEMENT, Page 33 

 “Original Transaction” means the “Transactions” as defined in this
Agreement immediately prior to giving effect to the
FourthFifth Amendment. 
 “Other Taxes” means any and all present or future stamp or
documentary taxes or any other excise or property taxes, charges or similar levies arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document including any
interest, additions to tax or penalties applicable thereto. 
 “Parent Borrower” means Darling Ingredients Inc., a Delaware
corporation. 
 “Parallel Debt” has the meaning set forth in Section 10.19(a). 

“Parallel Debt Loan Party” means any Loan Party that is party to a Loan Document providing for the granting of a Lien and
governed by the laws of Germany, The Netherlands or Belgium. 
 “Pari Passu Liens” means any Lien on the Collateral granted
to the Administrative Agent for the benefit of the Pari Passu Noteholders pursuant to the U.S. Security Agreement, the Canadian Security Agreement and/or any of the other Security Documents securing the Pari Passu Notes Obligations. 

“Pari Passu Notes” means the Senior Unsecured Notes due December 17, 2018 issued by the Parent Borrower in the aggregate
principal amount of $250,000,000, as amended, restated, refinanced, replaced or otherwise modified from time to time (including any Permitted Refinancing Indebtedness specifically designated as such by the Parent Borrower in respect thereof). 

“Pari Passu Notes Documents” means the Indenture dated December 17, 2010, among the Parent Borrower, U.S. Bank National
Association, as trustee and the other parties thereto or any similar agreement relating to any Permitted Refinancing Indebtedness specifically designated as such by the Parent Borrower in respect of the Pari Passu Notes. 

“Pari Passu Noteholders” means the holders of the Pari Passu Notes Obligations and any agent or trustee therefor. 

“Pari Passu Notes Obligations” means the “Obligations” (as such term is defined in the Pari Passu Notes Documents
as of the date of the Effective Date) of the Parent Borrower and its Subsidiaries arising under and in respect of the Pari Passu Notes and the other Pari Passu Notes Documents (including any “Obligations” arising under any Permitted
Refinancing Indebtedness specifically designated as such by the Parent Borrower in respect thereof). 
 “Pari Passu Notes Repayment
Date” means the date on which the Pari Passu Notes are repaid or otherwise redeemed in full (or irrevocable notice for the repayment or redemption thereof will be given to the extent accompanied by any prepayments or deposits required to
defease, terminate and satisfy in full the Pari Passu Notes). 
 “Participant” has the meaning set forth in
Section 10.04(c)(i). 
 “Participant Register” has the meaning set forth in Section 10.04(c)(ii).

  
 CREDIT AGREEMENT, Page 34 

 “Participating Member State” means any member state of the European Union that
has the Euro as its lawful currency in accordance with legislation of the European Union relating to Economic and Monetary Union. 

“Patriot Act” has the meaning set forth in Section 10.18. 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Act” means the Pension Protection Act of 2006. 

“Pension Plan” means any Plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or
Section 412 of the Code or Section 302 of ERISA. 
 “Permitted Acquisition” has the meaning set forth in
Section 6.04(1). 
 “Permitted Investments” means: 

(a) dollars, Euros, Canadian Dollars or the currency of any country having a credit rating of “A” (or the equivalent
thereof) or better from either S&P or Moody’s; 
 (b) securities issued or directly and fully guaranteed or insured
by the United States of America or the Government of Canada or any agency or instrumentality of the United States America or the Government of Canada (provided that the full faith and credit of the United States America or the Government of
Canada, as applicable, is pledged in support thereof), having maturities of not more than one year from the date of acquisition; 

(c) marketable general obligations issued by any state of the United States of America or province of Canada or any political
subdivision of any such state or province or any public instrumentality thereof maturing within one year from the date of acquisition thereof (provided that the full faith and credit of such state or province, as applicable, is pledged in
support thereof) and, at the time of acquisition, having a credit rating of “A” (or the equivalent thereof) or better from any of S&P or Moody’s; 

(d) certificates of deposit, time deposits, Eurodollar time deposits, overnight bank deposits or bankers’ acceptances
having maturities of not more than one year from the date of acquisition thereof issued by any commercial bank the long-term debt of which is rated at the time of acquisition thereof at least “A” (or
the equivalent thereof) by S&P or Moody’s, and having combined capital and surplus in excess of $500 million; 
 (e)
repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses (b), (c) and (d) entered into with any bank meeting the qualifications specified in clause
(d) above; 
 (f) commercial paper rated at the time of acquisition thereof at least
“A-1” or the equivalent thereof by S&P or “P-1” or the equivalent thereof by Moody’s, or carrying an equivalent rating by a nationally
recognized rating agency, if both of the two named rating agencies cease publishing ratings of investments, and in any case maturing within one year after the date of acquisition thereof; and 

  
 CREDIT AGREEMENT, Page 35 

 (g) interests in any investment company or money market fund which invests 95% or
more of its assets in instruments of the type specified in clauses (a) through (f) above. 
 In the case of
Investments by (x) any Restricted Subsidiary of the Parent Borrower that is not organized under the laws of the United States of America or any State thereof or the District of Columbia (but which may include Investments made indirectly by the
Parent Borrower or any Domestic Subsidiary), Permitted Investments shall also include investments of the type and maturity described in clauses (a) through (g) above of foreign obligors, which investments or obligors have the
ratings described in such clauses or equivalent ratings from comparable foreign rating agencies and (y) the Parent Borrower or any other Restricted Subsidiary, other currencies, to the extent obtained by the Parent Borrower or applicable
Restricted Subsidiary in the ordinary course of operations or for the purpose of consummating transactions otherwise permitted hereunder, and other short-term investments utilized by the Parent Borrower or such Restricted Subsidiary in the ordinary
course of business and in accordance with normal investment practices for cash management in investments substantially similar to the foregoing investments in clauses (a) through (g) above. 

“Permitted Refinancing Indebtedness” means any Indebtedness issued in exchange for, or the net proceeds of which are used to
refinance, replace, defease or refund (collectively, to “Refinance”), the Indebtedness being Refinanced (or previous refinancings thereof constituting Permitted Refinancing Indebtedness); provided that (a) the principal
amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so Refinanced (plus unpaid accrued interest and premium thereon, any
committed or undrawn amounts and underwriting discounts, fees, commissions and expenses, associated with such Permitted Refinancing Indebtedness), except as otherwise permitted under Section 6.01, (b) subject to exceptions customary
for bridge financings (to the extent convertible on customary terms into a permanent instrument otherwise meeting the conditions in this clause (b)), the final maturity date of such Permitted Refinancing Indebtedness is no earlier than the
final maturity date of the Indebtedness being refinanced, (c) if the original Indebtedness being Refinanced is by its terms subordinated in right of payment to the Obligations, such Permitted Refinancing Indebtedness shall be subordinated in
right of payment to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation governing the Indebtedness being Refinanced, taken as a whole, (d) no Permitted Refinancing Indebtedness shall have
obligors or contingent obligors that were not obligors or contingent obligors (or that would not have been required to become obligors or contingent obligors) in respect of the Indebtedness being Refinanced except to the extent permitted under
Section 6.04 and (e) if the Indebtedness being Refinanced is (or would have been required to be) secured by any collateral of a Loan Party (whether equally and ratably with, or junior to, the Secured Parties or otherwise), such
Permitted Refinancing Indebtedness may be secured by such collateral on terms no less favorable, taken as a whole, to the Secured Parties than those contained in the documentation governing the Indebtedness being Refinanced, taken as a whole. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any employee benefit plan as defined in
Section 3(3) of ERISA, including any employee welfare benefit plan (as defined in Section 3(1) of ERISA), any employee pension benefit plan (as defined in Section 3(2) of ERISA), and any plan which is both an employee welfare benefit
plan and an employee pension benefit plan, and in respect of which any Loan Party or, with respect to Title IV of ERISA only, any ERISA Affiliate is (or, if such Plan were terminated, would under Section 4062 or Section 4069 of ERISA be
deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

  
 CREDIT AGREEMENT, Page 36 

 “Platform” means IntraLinks/IntraAgency, SyndTrak or another relevant website or
other information platform. 
 “PPSA” means the Personal Property Security Act (Ontario), as amended from time to
time, together with all regulations made thereunder; provided that, if perfection or the effect of perfection or non-perfection or the priority of any security interest in any Collateral is governed by (i) a Personal Property Security
Act as in effect in a Canadian jurisdiction other than Ontario, or (ii) the Civil Code of Quebec, “PPSA” means the Personal Property Security Act as in effect from time to time in such other jurisdiction or the Civil Code of
Québec, as applicable. 
 “Prepayment Event” means: 

(a) any Disposition (including pursuant to a sale and leaseback transaction) of any asset of the Parent Borrower or any
Restricted Subsidiary under Section 6.05(o) or (u); or 
 (b) any casualty or other damage to, or any taking
under power of eminent domain or by condemnation or similar proceeding of, any asset of the Parent Borrower or any Restricted Subsidiary; or 

(c) the incurrence by the Parent Borrower or any Restricted Subsidiary of any Indebtedness other than Indebtedness permitted
under Section 6.01 and Indebtedness incurred with the consent of the Required Lenders. 
 “Prime Rate” means
the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such
change is publicly announced as being effective. 
 “Prior Assets” means assets comprising a division or branch of Parent
Borrower or a Restricted Subsidiary disposed of in a transaction in accordance with this Agreement which would not make the seller a “Prior Company”. 

“Prior Company” means any Restricted Subsidiary whose Equity Interests, or all or substantially all of whose assets have been
disposed of, in a transaction in accordance with this Agreement. 
 “Prior Target” means all Targets acquired or whose
assets have been acquired in a transaction permitted by Section 6.04. 
 “Pro Forma Basis” means, with respect
to any proposed incurrence, assumption or repayment of Indebtedness, acquisition or similar Investment, Disposition of all or substantially all of the assets or Equity Interests of any Subsidiary (or any business unit, line of business or division
of the Parent Borrower or any Restricted Subsidiary) not prohibited by this Agreement, Restricted Payment or payment made pursuant to Section 6.08(b), designation of any Subsidiary as a Restricted Subsidiary or Unrestricted Subsidiary,
as applicable, or other transaction or event requiring the calculation of a financial metric on a Pro Forma Basis, such financial metric calculated: (a) for the most recent four (4) fiscal quarter period then ended for which internal
financial statements have been prepared on a pro forma basis as if such incurrence, assumption or repayment of Indebtedness, acquisition or similar Investment, Disposition, Restricted Payment, payment made pursuant to Section 6.08(b),
Subsidiary designation or other transaction or event as applicable, had occurred as of the first day of such period, (b) to include any Indebtedness incurred, assumed or repaid in connection therewith (assuming, to the extent such

  
 CREDIT AGREEMENT, Page 37 

 
Indebtedness bears interest at a floating rate, the rate in effect at the time of calculation for the entire period of calculation, taking into account any hedging arrangements), (c) based
on the assumption that any such Disposition which occurred during such period occurred on the first day of such period, (d) with respect to an acquisition or similar Investment, as if the Target were a “Prior Target” for purposes of
calculating Adjusted EBITDA and (e) for purposes of determining Consolidated Total Assets, the acquisition of any asset or the Disposition of any asset described herein (including, in each case, cash and Permitted Investments), shall be deemed
to have occurred as of the last day of the applicable fiscal period with respect to any test or covenant for which such calculation is being made. 

“Pro Forma Transaction” has the meaning set forth in Section 1.10(b). 

“Prohibited Transaction” has the meaning set forth in Section 406 of ERISA and Section 4975(f)(3) of the Code. 

“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. 

“PWC Steps Memo” means the memorandum entitled “Darling International Inc.: Project Seabiscuit – Acquisition
Structuring” prepared by PriceWaterhouse Coopers LLP provided to the Administrative Agent in connection with the Original Transactions. 

“Qualified Equity Interests” means any Equity Interests that are not Disqualified Equity Interests. 

“Receivables Assets” means any accounts receivable owed to the Parent Borrower or any Restricted Subsidiary (whether now
existing or arising or acquired in the future) arising in the ordinary course of business from the sale of goods or services or pursuant to any other contractual right, all collateral securing such accounts receivable, all contracts and contract
rights and all guarantees or other obligations in respect of such accounts receivable, all proceeds of such accounts receivable and other assets (including contract
rights, deposit accounts and securities
accounts) which are of the type customarily transferred or in respect of which security interests are customarily granted in connection with securitizations of accounts rReceivables Facilities and which, in
each case, are sold, conveyed, assigned or otherwise transferred or in which a security interest is granted by the Parent Borrower or a Restricted Subsidiary to either (a) a Person that is not a Subsidiary of the Parent Borrower or (b) a
Receivables Subsidiary that in turn sells, conveys, assigns, grants a security interest in or otherwise transfers such Receivables Assets to a Person that is not a Subsidiary of the Parent Borrower. 

“Receivables Facility” means any of one or more receivables financing
or sale facilities
(including, without limitation, a receivables financing facility structured as a securitization) as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, all obligations in respect of which are
either (a) non-recourse (except for customary credit enhancement or risk retention arrangements, representations, warranties,
guarantees, covenants and indemnities made in connection with such
facilities) to the Parent Borrower and all Restricted Subsidiaries (other than a Receivables Subsidiary) or (b) with
recourse limited to the relevant Receivables Assets, in each case pursuant to which the Parent Borrower or any Restricted Subsidiary sells, conveys, assigns, grants an interest in or otherwise
transfers Receivables Assets to either (a) a Person that is not a Subsidiary of the Parent Borrower or (b) a Receivables Subsidiary that in turn sells, conveys, assigns, grants a security interest in or otherwise transfers such Receivables
Assets to a Person that is not a Subsidiary of the Parent Borrower; provided, that the aggregate principal amount of obligations outstanding under all Receivables Facilities shall not exceed $150,000,000300,000,000 at any one time outstanding. 

  
 CREDIT AGREEMENT, Page 38 

 “Receivables Subsidiary” means a special–purpose wholly owned Subsidiary of
the Parent Borrower whose sole purpose is to purchase or otherwise receive interests in Receivables Assets from the Parent Borrower or any Restricted Subsidiaries (other than a
Receivables Subsidiary) and to resell, convey, assign, grant a security interest in or otherwise transfer such Receivables Assets to a Person that is not a Subsidiary (other than another Receivables Subsidiary) of the Parent Borrower pursuant to a
Receivables Facility and which engages in no other activities other than the foregoing and other activities reasonably related thereto. 

“Recipient” has the meaning set forth in Section 2.17(h)(ii). 

“Refinancing Amendment” means an amendment to this Agreement, in form and substance reasonably satisfactory to the Borrowers,
the Administrative Agent and the Lenders providing Specified Refinancing Debt, effecting the incurrence of such Specified Refinancing Debt in accordance with Section 2.22. 

“Refinancing Junior Loans” means loans under credit or loan agreements that are unsecured or secured by the Collateral of the
relevant Loan Parties (or Collateral of a subset of the relevant Loan Parties) on a junior basis to the Credit Facilities, incurred in respect of a refinancing of outstanding Indebtedness of the Borrowers under the Credit Facilities; provided
that, (a) if such Refinancing Junior Loans shall be secured by a security interest in the Collateral, then such Refinancing Junior Loans shall be issued subject to customary intercreditor arrangements that are reasonably satisfactory to the
Administrative Agent; (b) subject to exceptions customary for bridge financings (to the extent convertible on customary terms into a permanent instrument otherwise meeting the conditions in this clause (b)), no Refinancing Junior Loans
shall mature prior to the final maturity date of the Indebtedness being refinanced, or have a weighted average life to maturity that is less than the weighted average life to maturity of the Indebtedness being refinanced thereby (it being agreed,
for the avoidance of doubt, that when calculating the weighted average life to maturity of such Indebtedness being refinanced, the effects of any amortization or prepayments made on such Indebtedness vis-ά-vis the amortization schedule prior
to the date of the applicable refinancing shall be disregarded), (c) the borrower of the Refinancing Junior Loans shall be the Borrower with respect to the Indebtedness being refinanced or the Parent Borrower; (d) such Refinancing Junior
Loans shall have pricing (including interest, fees and premiums), optional prepayment and redemption terms as may be agreed to by the Parent Borrower and the lenders party thereto; (e) the other terms (excluding those referenced in clauses
(b) and (d) above) of such Refinancing Junior Loans shall not be materially more restrictive (taken as a whole) than those with respect to the relevant Loans and Commitments being refinanced or replaced (as reasonably determined
by the Parent Borrower in good faith, which determination shall be conclusive), except terms (i) applicable only after the maturity date of the then outstanding Loans and Commitments or (ii) consistent with then-current market terms for
the applicable type of Indebtedness (as reasonably determined by the Parent Borrower in good faith, which determination shall be conclusive), provided that no financial maintenance covenant applicable to the Parent Borrower may be added to
the Refinancing Junior Loans pursuant to this clause (e)(ii) without also being included in this Agreement (which may be achieved by an amendment solely among the Parent Borrower and the Administrative Agent (and the Required Lenders hereby
authorize the Administrative Agent to enter into such amendment)), and, for the avoidance of doubt, it being understood that if such financial covenant is a “springing” financial maintenance covenant applicable only to revolving
Indebtedness, such financial covenant shall be automatically included in this Agreement only for the benefit of each Revolving Facility and not for the benefit of any Credit Facility in respect of Term Loans hereunder; provided
further, that documentation governing any Refinancing Junior Loans may include such materially more restrictive terms so long as the Administrative Agent shall have been given prompt written notice thereof and this Agreement is amended to
include such terms for the benefit 

  
 CREDIT AGREEMENT, Page 39 

 
of the relevant Commitments and Loans (which may be achieved by an amendment solely among the Parent Borrower and the Administrative Agent (and the Required Lenders hereby authorize the
Administrative Agent to enter into such amendment)); (f) the Refinancing Junior Loans may not have guarantors, obligors or security in any case more extensive than that which applied to the applicable Loans being so refinanced; and (g) the
Net Cash Proceeds of such Refinancing Junior Loans shall be applied, substantially concurrently with the incurrence thereof, to the pro rata prepayment of outstanding Loans under the applicable Class of Loans being so refinanced in accordance with
Section 2.11. 
 “Refinancing Junior Loans Agreements” means, collectively, the loan agreements, credit
agreements or other similar agreements pursuant to which any Refinancing Junior Loans are incurred, together with all instruments and other agreements in connection therewith, as amended, supplemented or otherwise modified from time to time in
accordance with the terms thereof, but only to the extent permitted under the terms of the Loan Documents. 
 “Refinancing
Notes” means one or more series of (i) senior unsecured notes or (ii) senior secured notes secured by the Collateral of the relevant Loan Parties (or Collateral of a subset of the relevant Loan Parties) (x) on an equal and
ratable basis with the Credit Facilities or (y) on a junior basis to the Credit Facilities (to the extent then secured by such Collateral) in each case issued in respect of a refinancing of outstanding Indebtedness of a Borrower under any one
or more Classes of Term Loans; provided that, (a) if such Refinancing Notes shall be secured by a security interest in the Collateral, then such Refinancing Notes shall be issued subject to customary intercreditor arrangements that are
reasonably satisfactory to the Administrative Agent; (b) subject to exceptions for bridge financings (to the extent convertible on customary terms into a permanent instrument otherwise meeting the conditions in this clause (b)), no
Refinancing Notes shall mature prior to the date that is after the final maturity date of, or have a weighted average life to maturity that is less than the weighted average life to maturity of, in each case, the Class of Term Loans being refinanced
(it being agreed, for the avoidance of doubt, that when calculating the weighted average life to maturity of such Indebtedness being refinanced, the effects of any amortization or prepayments made on such Indebtedness vis-ά-vis the
amortization schedule prior to the date of the applicable refinancing shall be disregarded); (c) no Refinancing Notes shall be subject to any amortization prior to the final maturity thereof, or be subject to any mandatory redemption or
prepayment provisions or rights (except customary assets sale or change of control provisions); (d) such Refinancing Notes shall have pricing (including interest, fees and premiums), optional prepayment and redemption terms as may be agreed to
by the Parent Borrower and the lenders party thereto; (e) the other terms (excluding those referenced in clauses (b) and (d) above) of such Refinancing Notes shall not be materially more restrictive (taken as a whole)
than those with respect to the relevant Loans and Commitments being refinanced or replaced (as reasonably determined by the Parent Borrower in good faith, which determination shall be conclusive), except terms (i) applicable only after the
maturity date of the then outstanding Loans and Commitments, or (ii) consistent with then-current market terms for the applicable type of Indebtedness (as reasonably determined by the Parent Borrower in good faith, which determination shall be
conclusive), provided that no financial maintenance covenant applicable to the Parent Borrower may be added to the Refinancing Notes pursuant to this clause (e)(ii) without also being included in this Agreement (which may be achieved
by an amendment solely among the Parent Borrower and the Administrative Agent (and the Required Lenders hereby authorize the Administrative Agent to enter into such amendment)), and, for the avoidance of doubt, it being understood that if such
financial covenant is a “springing” financial covenant applicable only to revolving Indebtedness, such financial covenant shall be automatically included in this Agreement only for the benefit of each Revolving Facility and not for the
benefit of any Credit Facility in respect of Term Loans hereunder; provided further, that documentation governing any Refinancing Notes may include such materially more restrictive terms so long as the Administrative Agent shall have
been given prompt written notice thereof and this Agreement is amended 

  
 CREDIT AGREEMENT, Page 40 

 
to include such terms for the benefit of the relevant Commitments and Loans (which may be achieved by an amendment solely among the Parent Borrower and the Administrative Agent (and the Required
Lenders hereby authorize the Administrative Agent to enter into such amendment)); (f) the Refinancing Notes may not have guarantors, obligors or security in any case more extensive than that which applied to the applicable Term Loans being so
refinanced and the borrower of the Refinancing Notes shall be the Borrower with respect to the Indebtedness being refinanced; and (g) the Net Cash Proceeds of such Refinancing Notes shall be applied, substantially concurrently with the
incurrence thereof, to the pro rata prepayment of outstanding Term Loans under the applicable Class of Term Loans being so refinanced in accordance with Section 2.11. 

“Refinancing Notes Indentures” means, collectively, the indentures or other similar agreements pursuant to which any
Refinancing Notes are issued, together with all instruments and other agreements in connection therewith, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof, but only to the extent permitted under
the terms of the Loan Documents. 
 “Register” has the meaning set forth in Section 10.04. 

“Related Business” means any business which is the same as or related, ancillary or complementary to, or a reasonable
extension or expansion of, any of the businesses of the Parent Borrower and its Restricted Subsidiaries on the FourthFifth Amendment Date, including, for the avoidance of doubt, the Renewable Diesel Joint
Venture. 
 “Related Business Assets” means any property, plant, equipment or other assets (excluding assets that
are qualified as current assets under GAAP) to be used or useful by the Parent Borrower or a Restricted Subsidiary in a Related Business or capital expenditures relating thereto. 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective partners,
directors, officers and employees of such Person and such Person’s Affiliates. 
 “Relevant Party” has the meaning set
forth in Section 2.17(h)(ii). 
 “Remaining Revolving Exposure” has the meaning set forth in
Section 2.23(a). 
 “Renewable Diesel Joint Venture” means one or more joint ventures formed with an Affiliate of Valero Energy Corporation in connection with the building and/or operation of one or more renewable diesel
facilities at various sites in the United States, including (x) any Subsidiary thereof and (y) any Subsidiary that is a holding company through which the Parent Borrower or its Subsidiary holds its interests in such joint ventures and, in
the case of an Unrestricted Subsidiary, has no material assets or operations unrelated to such joint ventures. 

“Reorganization” means, with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the
meaning of Section 4241 of ERISA. 
 “Reportable Event” means any “reportable event,” as defined in
Section 4043(c) of ERISA or the regulations issued thereunder, other than those events as to which the 30-day notice period referred to in Section 4043(c) of ERISA has been waived, with respect to a Pension Plan. 

  
 CREDIT AGREEMENT, Page 41 

 “Repricing Transaction” means the voluntary prepayment, refinancing,
substitution or replacement (pursuant to Section 2.11(a) or, solely in the case of a Prepayment Event arising from the incurrence of Indebtedness refinancing the Term B Loans, Section 2.11(c)) of all or a portion of the Term
B Loans with the incurrence by the Parent Borrower or any of its Subsidiaries of any secured term loans with the primary purpose of having an effective interest cost or weighted average yield (with the comparative determinations to be made
consistent with generally accepted financial practices, after giving effect to margin, interest rate floors, upfront fees or original issue discount paid or payable (based on a four (4)-year average life to maturity or, if less, the remaining life
to maturity) to all providers of such financing, but excluding the effect of any arrangement, commitment, structuring, syndication or underwriting and any amendment fees payable in connection therewith that are not required to be shared with all providers of such financing, and without taking into
account any fluctuations in the Eurodollar Rate) that is less than the effective interest cost or weighted average yield (as determined on the same basis) of such Term B Loans, including without limitation, as may be effected through any amendment
to this Agreement relating to the interest rate for, or weighted average yield of, such Term B Loans (in any case, other than in connection with a Change ofin Control). 

“Required Lenders” means, at any time, Lenders having Revolving Exposures, Term Loans and unused Commitments representing
more than 50% of the sum of the total Revolving Exposures, outstanding Term Loans and unused Commitments at such time. 
 “Required
TLA/RC Lenders” means, at any time, Lenders having Revolving Exposures, Term A Loans and unused Commitments in respect thereof representing more than 50% of the sum of the total Revolving Exposures, outstanding Term A Loans and unused
Commitments in respect thereof at such time. 
 “Required TLB Lenders” means, at any time, Lenders having Term B Loans and
unused Commitments in respect thereof representing more than 50% of the sum of the total outstanding Term B Loans and unused Commitments in respect thereof at such time. 

“Responsible Officer” means the chief executive officer, president, any vice president, any Financial Officer or Secretary of
the Parent Borrower (or such other entity to which such reference relates). 
 “Restricted Indebtedness” has the meaning
set forth in Section 6.08(b). 
 “Restricted Payment” means any dividend or other distribution (whether in
cash, securities or other property) with respect to any Equity Interests in the Parent Borrower or any Restricted Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account
of the purchase, redemption, retirement, acquisition, cancellation or termination of any Equity Interests in the Parent Borrower or any Restricted Subsidiary. 

“Restricted Subsidiaries” means the Subsidiary Loan Parties and each other Subsidiary of any Borrower that is not an
Unrestricted Subsidiary. The Parent Borrower may designate any Unrestricted Subsidiary as a Restricted Subsidiary at any time by written notice to the Administrative Agent if after giving effect to such designation, the Parent Borrower is in
compliance with the Financial Covenants herein on a Pro Forma Basis, no Default exists or would otherwise result therefrom and the Parent Borrower complies with the obligations under clause (b) of Section 5.10. 

“Revaluation Date” has the meaning set forth in Section 1.06(e) 

  
 CREDIT AGREEMENT, Page 42 

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

“Revolving Commitment” means the USD/Multicurrency Revolving Commitment and USD Only Revolving Commitment. The aggregate
amount of the Lenders’ Revolving Commitments as of the Fourth Amendment Date is $1,000,000,000. 
 “Revolving
Exposure” means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time. 

“Revolving Facility” means the Revolving Commitments and the extensions of credit made thereunder. 

“Revolving Lender” means, as of any date of determination, each Lender with a Revolving Commitment or, if the Revolving
Commitments have terminated or expired, a Lender with Revolving Exposure. 
 “Revolving Loan” means a USD/Multicurrency
Revolving Loan and/or a USD Only Revolving Loan, as the context may require. 
 “Revolving Maturity Date” means the earlier
of (a) December 16, 2021 and (b) if any Term B Loans (or refinancing, extension or replacement of the Term B Loans) are outstanding on the date that is 91 days prior to the Term B Loan Maturity Date (as such date may be extended
pursuant to the terms hereof, and including any similar term with respect to any refinancing, extension or replacement of the Term B Loans), the date that is 91 days prior to such Term B Loan Maturity Date. 

“Revolving Outstandings” shall mean, with respect to any Lender at any time, the Revolving Exposure and if the Lender is also
an Ancillary Lender, the Ancillary Facility Exposure in respect of Ancillary Facilities provided by such Ancillary Lender. 

“Rothsay” means the assets and property acquired by the Parent Borrower and/or one of its Affiliates pursuant to the Rothsay
Acquisition Agreement. 
 “Rothsay Acquisition” means the acquisition by the Parent Borrower and/or its Affiliates of
Rothsay pursuant to the Rothsay Acquisition Agreement. 
 “Rothsay Acquisition Agreement” means that certain Acquisition
Agreement (together with all exhibits, schedules and disclosure letters thereto), dated as of August 23, 2013 between Maple Leaf Foods Inc. (the “Rothsay Seller”) and the Parent Borrower. 

“Rothsay Acquisition Closing Date” means October 24, 2013. 

“Rothsay Seller” has the meaning set forth in the definition of “Rothsay Acquisition Agreement”. 

“S&P” means Standard & Poor’s Financial
Services, LLC., or any successor to the ratings agency business thereof. 

  
 CREDIT AGREEMENT, Page 43 

 “Schedule I Lender” means a Lender which is a Canadian chartered bank listed on
Schedule I to the Bank Act (Canada), R.S.C., 1985, c. B-2, as amended. 
 “Secured Leverage Ratio” means, as of any
date of determination, the ratio of (a) Total Indebtedness secured by a Lien minus (i) all obligations, contingent or otherwise, of such Person as an account party in respect of the undrawn face amount of letters of credit, bankers
acceptances or similar instruments (including the Letters of Credit) outstanding as of such date and (ii) any such obligations described in clause (a)(i) which have been drawn and reimbursed within three (3) Business Days to
(b) Adjusted EBITDA for the four fiscal quarter period most recently ended. 
 “Secured Parties” means (a) the
Administrative Agent, the Lenders and each Affiliate of a Lender who is owed any portion of the Obligations, (b) the Pari Passu Noteholders and (c) each Ancillary Lender. 

“Security Documents” means the U.S. Security Agreement, the Canadian Security Agreement, each Foreign Security Agreement and
each other security agreement or other instrument or document executed and delivered pursuant to Section 5.10 to secure any of the Obligations or Foreign Obligations, as applicable. 

“Specified Foreign Subsidiaries” has the meaning set forth in the definition of “Excluded Subsidiaries.” 

“Specified Obligations” means Obligations consisting of the principal and interest on Loans, reimbursement obligations in
respect of LC Disbursements and fees. 
 “Specified Refinancing Debt” has the meaning set forth in
Section 2.22(a). 
 “Specified Refinancing Revolving Loans” means Specified Refinancing Debt constituting
revolving loans. 
 “Specified Refinancing Term Loans” means Specified Refinancing Debt constituting term loans. 

“Spot Rate” means, on any day, with respect to any currency in relation to dollars, the rate at which such currency may be
exchanged into dollars, as set forth at approximately 12:00 noon, London time, on such date on the Reuters World Currency Page for such currency. In the event that such rate does not appear on the applicable Reuters World Currency Page, the Spot
Rate shall be calculated by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Parent Borrower, or, in the absence of such agreement, such Spot Rate shall
instead be the arithmetic average of the spot rates of exchange of the Administrative Agent, at or about 11:00 a.m., London time, on such date for the purchase of dollars for delivery two (2) Business Days later; provided that if, at the
time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent, after consultation with the Parent Borrower, may use any reasonable method it deems appropriate to determine such rate, and such
determination shall be conclusive absent manifest error. 
 “Statutory Reserve Rate” means a fraction (expressed as a
decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal
established by the Board to which the Administrative Agent is subject for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed
pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to
time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

  
 CREDIT AGREEMENT, Page 44 

 “Sterling” and “£” shall mean the lawful currency of the
United Kingdom. 
 “Subject Person” has the meaning set forth in the definition of “Consolidated Net Income”.

 “Subordinated Indebtedness” means any Indebtedness of the Parent Borrower or any Restricted Subsidiary that is by its
terms contractually subordinated in right of payment to any of the Obligations; provided that, Refinancing Junior Loans shall not be Subordinated Indebtedness. 

“Subordinated Indebtedness Documents” means the documentation governing any Subordinated Indebtedness. 

“subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited
liability company, partnership, association or other entity of which stock or other ownership interests representing more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests (in
each case other than stock or other ownership interests having such power only by the happening of a contingency) to elect the board of directors, managers or similar Persons performing such functions are, as of such date, owned, controlled or held
by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. 

“Subsidiary” means, unless otherwise specified, any subsidiary of the Parent Borrower. 

“Subsidiary Borrowers” means the Canadian Borrower, the Dutch Parent Borrower, the Dutch Subsidiary Borrowers, the German Subsidiary Borrower and any Additional Borrowers. 

“Subsidiary Loan Party” means each Restricted Subsidiary that has become a party to the Guaranty Agreement. 

“Supplier” has the meaning set forth in Section 2.17(h)(ii). 

“Swap Agreement” means any agreement with respect to any swap, cap, collar, forward, future or derivative transaction or
option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or
value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current, former or future directors, officers, members of
management, employees or consultants of the Parent Borrower or the Subsidiaries shall be a Swap Agreement. 
 “Swap
Obligations” means all obligations, indebtedness, and liabilities of the Covered Parties, or any one of them, to any Lender or any Affiliate of any Lender which have been designated by the Parent Borrower by written notice to the
Administrative Agent as entitled to the security of the Collateral and which arise pursuant to any Swap Agreements with the Covered Parties, or any one of them, whether now existing or hereafter arising, whether direct, indirect, related, unrelated,
fixed, contingent, liquidated, unliquidated, joint, several, or joint and several, including, without limitation, all fees, costs, and expenses (including reasonable attorneys’ fees and expenses) provided for in such Swap Agreements. 

  
 CREDIT AGREEMENT, Page 45 

 “Swingline Exposure” means, at any time, the aggregate principal amount of all
Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall be its Applicable Percentage (or in the case of Swingline Loans denominated in Canadian Dollars or Euro), its USD/Multicurrency Applicable Percentage)
of the total Swingline Exposure at such time. 
 “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as
lender of Swingline Loans hereunder. 
 “Swingline Loan” means a Loan made pursuant to Section 2.04. 

“Syndication Agents” has the meaning set forth in the preamble hereto, and also includes the financial institutions
identified as “Syndication Agents” in the
FourthFifth Amendment. 
 “Target” means the Person who is to be acquired, in whose Equity
Interests an Investment is to be made or whose assets are to be acquired in a Permitted Acquisition or similar Investment. 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any
Governmental Authority including any interest, additions to tax or penalties applicable thereto. 
 “Term A Commitment”
means the USD Term A Commitment and the CAD Term A Commitment. 
 “Term A Facility” means the USD Term A Commitments and
the CAD Term A Commitments and the extensions of credit made thereunder. 
 “Term A Lender” means, as of any date of
determination, each Lender with a Term A Commitment or an outstanding Term Loan. 
 “Term A Loan Maturity Date” means the
earlier of (a) December 16, 2021 and (b) if any Term B Loans (or refinancing, extension or replacement of the Term B Loans) are outstanding on the date that is 91 days prior to the Term B Loan Maturity Date (as such date may be
extended pursuant to the terms hereof, and including any similar term with respect to any refinancing, extension or replacement of the Term B Loans) the date that is 91 days prior to such Term B Loan Maturity Date. 

“Term A Loans” means a Loan made pursuant to clause (a), or clause (b) of Section 2.01 or an
Incremental Term Loan designated as such. 
 “Term B Commitment” means the Term B USD Commitment and the Term B EUR
Commitment. 
 “Term B EUR Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make Term B EUR Loans hereunder, expressed as an amount representing the maximum principal amount of the Term B EUR Loans to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to
Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.04 and (c) established or increased from time to time pursuant to an Incremental
Assumption Agreement. The initial amount of each Lender’s Term B EUR Commitment
as of the Fifth Amendment Date is set forth on Schedule 2.01 as modified by Annex II to the Fifth Amendment, or in the Assignment and Assumption or
Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Term B EUR Commitment, as
applicable. The initial aggregate amount of the Lenders’ Term B EUR Commitments is €510,000,000as of the Fifth Amendment Date is $525,000,000. 

  
 CREDIT AGREEMENT, Page 46 

 “Term B EUR
Facility” means the Term B EUR Commitments and
the extensions of credit made thereunder. 
 “Term B
EUR Lender” means a Lender with a Term B
EUR Commitment or an outstanding Term B EUR
Loan. 

“Term B EUR Loans” means a Loan made pursuant to clause (d) of Section 2.01 or an
Incremental Term Loan designated as a Term B EUR Loan and denominated in Euro. 

“Term B Facility” means the Term B Commitments and the extensions of credit made
thereunder. 

“Term B Lender” means a Lender with a Term B Commitment or an outstanding Term B
Loan. 
 “Term B Loan Maturity Date” means January 6December 18,
20212024. 
 “Term B Loans” means a Loan made pursuant to clauses (c) and/or (d) of Section 2.01 or an Incremental Term Loan designated as a Term B Loan and denominated in dollars
or Euro, as applicable. 
 “Term B USD
Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make Term B USD Loans hereunder, expressed as an amount representing
the maximum principal amount of the Term B Loans to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to
Section 2.08, (b) reduced or increased from time to time pursuant to
assignments by or to such Lender pursuant to Section 10.04 and
(c) established or increased from time to time pursuant to an Incremental Assumption Agreement. The initial amount of each Lender’s Term B USD Commitment is set forth on Schedule 2.01, or in the Assignment and Assumption or Incremental Assumption Agreement pursuant to
which such Lender shall have assumed its Term B USD Commitment, as applicable. The initial aggregate amount of the Lenders’ Term B USD Commitments is $600,000,000. 

“Term B USD Facility” means the Term B USD Commitments and the extensions of credit made
thereunder. 

“Term B USD Lender” means a Lender with a Term B USD Commitment or an outstanding Term B USD
Loan. 
 “Term B USD Loans” means a Loan made pursuant to clause (c) of Section 2.01 or an
Incremental Term Loan designated as a Term B USD
Loan and denominated in dollars. 

“Term Commitment” means the Term B Commitment and the Term A Commitment. 

“Term Facility” means the Term B Commitments, the USD Term A Commitments and the CAD Term A Commitments and the extensions of
credit made thereunder. 
 “Term Lender” means, as of any date of determination, each Lender with a Term Commitment or an
outstanding Term Loan. 

  
 CREDIT AGREEMENT, Page 47 

 “Term Loans” means a Loan made pursuant to clause (a), clause (b),
clause (c) and/or clause (d) of Section 2.01 or an Incremental Term Loan. 
 “Threshold
Amount” means $75,000,000. 
 “Total Indebtedness” means, at the time of determination, the sum of the following
determined for Parent Borrower and the Restricted Subsidiaries on a consolidated basis (without duplication) in accordance with GAAP: (a) all obligations for borrowed money; plus (b) all Guarantees of obligations for borrowed money;
plus (c) all Capital Lease Obligations and purchase money indebtedness; plus (d) all obligations, contingent or otherwise, of such Person as an account party in respect of the undrawn face amount of letters of credit, bankers
acceptances or similar instruments. The parties acknowledge that any
obligationssuch Indebtedness under any Receivables Facilities (or a portion thereof) representing an aggregate principal amount of obligations of
$75,000,000such Indebtedness of $150,000,000 or less will not be
included in the calculation of Total Indebtedness. 
 “Total Leverage Ratio” means, as of any date of determination,
the ratio of (a) Total Indebtedness minus (i) all obligations, contingent or otherwise, of such Person as an account party in respect of the undrawn face amount of letters of credit, bankers acceptances or similar instruments
(including the Letters of Credit) outstanding as of such date and (ii) any such obligations described in clause (a)(i) which have been drawn and reimbursed within three (3) Business Days to (b) Adjusted EBITDA for the four
fiscal quarter period most recently ended. 
 “Transactions” means the execution, delivery and performance by each Loan
Party of the Loan Documents (as amended, restated, amended and restated, supplemented, extended, renewed, replaced, refinanced or otherwise modified by the FourthFifth Amendment) to which it is to be a party, the borrowing of Loans and the issuance
of Letters of Credit hereunder of the proceeds thereof and the payment of fees and expenses in connection with the foregoing. 

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

“UCC” means the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection or the
effect of perfection or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, “UCC” means the Uniform
Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority. 

“Unrestricted Subsidiaries” means each Subsidiary of the Parent Borrower (other than a Borrower) designated by the Parent
Borrower pursuant to written notice provided to the Administrative Agent as an “Unrestricted Subsidiary” and, in each case, any Subsidiary of such Unrestricted Subsidiary, it being agreed that, in each case, such Subsidiary also shall have
been or will promptly be designated an “unrestricted subsidiary” (or otherwise not be subject to the covenants) under any NewExisting Senior Unsecured Notes, Incremental Equivalent Debt, Refinancing Notes or any
Refinancing Junior Loans and any Permitted Refinancing of any of the foregoing (and successive Permitted Refinancing Indebtedness thereof); provided the Parent Borrower shall not be permitted to designate any Subsidiary as an Unrestricted
Subsidiary if after giving effect to such designation, the Parent Borrower is not projected to be in compliance with the financial covenants herein on a Pro Forma Basis or if a Default exists or would otherwise result therefrom. As of the FourthFifth Amendment Date, Insurance Company of Colorado, Inc., Darling Green Energy LLC, a Delaware limited liability company, and Rosellen Marine, Ltd., a Cyprus
corporationDarling Insect Proteins LLC, a Delaware limited liability company, have each been designated as an Unrestricted Subsidiary. 

  
 CREDIT AGREEMENT, Page 48 

 “USD/Multicurrency Applicable Percentage” means, with respect to any
USD/Multicurrency Revolving Lender, subject to Section 2.21, the percentage of the total USD/Multicurrency Revolving Commitments represented by such Lender’s USD/Multicurrency Revolving Commitment. If the USD/Multicurrency Revolving
Commitments have terminated or expired, the USD/Multicurrency Applicable Percentages shall be determined based upon the USD/Multicurrency Revolving Commitments most recently in effect, giving effect to any assignments. 

“USD/Multicurrency Revolving Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make
USD/Multicurrency Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from
time to time pursuant to assignments by or to such Lender pursuant to Section 10.04 and (c) as established or increased from time to time pursuant to an Incremental Assumption Agreement. The amount of each Lender’s
USD/Multicurrency Revolving Commitment as of the Fourth Amendment Date is set forth on Schedule 2.01 as modified by Annex II to the Fourth Amendment. The aggregate amount of the Lenders’ USD/Multicurrency Revolving Commitments as of the
Fourth Amendment Date is $948,315,880.60. 
 “USD/Multicurrency Revolving Exposure” means, with respect to any Lender at
any time, the sum of the outstanding principal amount of such Lender’s USD/Multicurrency Revolving Loans and its LC Exposure and Swingline Exposure at such time. 

“USD/Multicurrency Revolving Facility” means the USD/Multicurrency Revolving Commitments and the extensions of credit made
thereunder. 
 “USD/Multicurrency Revolving Lender” means, as of any date of determination, each Lender with a
USD/Multicurrency Revolving Commitment or, if the USD/Multicurrency Revolving Commitments have terminated or expired, a Lender with USD/Multicurrency Revolving Exposure. 

“USD/Multicurrency Revolving Loan” means a Loan made pursuant to clause (ed) of
 Section 2.01 or an Incremental Revolving Loan made under the USD/Multicurrency Revolving Facility. 
 “USD Only
Revolving Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make USD Only Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder, as such commitment may be
(a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.04 and (c) as established or increased from
time to time pursuant to an Incremental Assumption Agreement. The amount of each Lender’s USD Only Revolving Commitment as of the Fourth Amendment Date is set forth on Schedule 2.01 as modified by Annex II to the Fourth Amendment. The
aggregate amount of the Lenders’ USD Only Revolving Commitments as of the Fourth Amendment Date is $51,684,119.40. 
 “USD Only
Revolving Exposure” means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s USD Only Revolving Loans and its LC Exposure and Swingline Exposure, in each case, under the USD Only
Revolving Commitment, at such time. 

  
 CREDIT AGREEMENT, Page 49 

 “USD Only Revolving Facility” means, the USD Only Revolving Commitments and the
extensions of credit made thereunder. 
 “USD Only Revolving Lender” means, as of any date of determination, each Lender
with a USD Only Revolving Commitment or, if the USD Only Revolving Commitments have terminated or expired, a Lender with USD Only Revolving Exposure. 

“USD Only Revolving Loan” means, a Loan made pursuant to clause (fe) of
 Section 2.01 or an Incremental Revolving Loan made under the USD Only Revolving Facility. 
 “USD Term A
Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make USD Term A Loans hereunder, expressed as an amount representing the maximum principal amount of the USD Term A Loans to be made by such Lender
hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.04 and
(c) established or increased from time to time pursuant to an Incremental Assumption Agreement. The initial amount of each Lender’s USD Term A Commitment is set forth on Schedule 2.01, or in the Assignment and Assumption or
Incremental Assumption Agreement pursuant to which such Lender shall have assumed its USD Term A Commitment, as applicable. The initial aggregate amount of the Lenders’ USD Term A Commitments is $200,000,000. 

“USD Term A Facility” means, the USD Term A Commitments and the extensions of credit made thereunder. 

“USD Term A Lender” means a Lender with a USD Term A Commitment or an outstanding USD Term A Loan. 

“USD Term A Loans” means a Loan made pursuant to clause (a) of Section 2.01 or an Incremental Term
Loan designated as a USD Term A Loan denominated in dollars. 
 “U.S. Security Agreement” means an agreement, substantially
in the form of Exhibit C, executed by the Loan Parties. 
 “VAT” means any Tax imposed in compliance with the
Council Directive of November 28, 2006 on the common system of value added tax (EC Directive 20061112) and any other Tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition to,
such Tax referenced above, or imposed elsewhere. 
 “Vion” means the entities, assets and property acquired by the Parent
Borrower and/or one of its Affiliates pursuant to the Vion Acquisition Agreement. 
 “Vion Acquisition” means the
acquisition by the Parent Borrower and/or its Affiliates of Vion pursuant to the Vion Acquisition Agreement. 
 “Vion Acquisition
Agreement” means the Sale and Purchase Agreement (together with all exhibits, schedules and disclosure letters thereto) dated October 5, 2013 between Vion Holding N.V. (the “Vion Seller”) and Parent Borrower. 

“Vion Acquisition Closing Date” means January 6, 2014. 

  
 CREDIT AGREEMENT, Page 50 

 “Vion Seller” means Vion Holding N.V. 

“Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Title IV of ERISA. 
 “Withholding Agent” means any Loan Party or the
Administrative Agent. 
 “Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the
write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.

 Section 1.02 Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to
by Class (e.g., a “Revolving Loan” or a “Term B Loan”) or by Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan” or “Eurodollar Term B
Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing” of “Term B Loan Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type
(e.g., a “Eurodollar Revolving Borrowing” or “Eurodollar Term B Loan Borrowing”). 
 Section 1.03 Terms
Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
“include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word
“shall”. The word “or” shall not be exclusive. Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document (including any Loan Document) herein shall be construed
as referring to such agreement, instrument or other document (including any Loan Document) as from time to time amended, restated, amended and restated, supplemented, extended, renewed, replaced, refinanced or otherwise modified (subject to any
restrictions on such amendments, restatements, amendments and restatements, supplements, extensions, renewals, replacements, refinancings or modifications set forth herein), (b) any reference herein or in any Loan Document to any Person shall
be construed to include such Person’s successors and permitted assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its
entirety and not to any particular provision hereof or thereof, (d) all references herein or in any Loan Document to Articles, Sections, clauses, paragraphs, Exhibits and Schedules shall be construed to refer to Articles and Sections, clauses
and paragraphs of, and Exhibits and Schedules to, this Agreement or such Loan Document, as applicable, (e) the words “asset” and “property”, when used in any Loan Document, shall be construed to have the same meaning and
effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights, (f) any reference to any law, rule or regulation in any Loan Document shall include all statutory and
regulatory provisions consolidating, amending, replacing, supplementing, superseding or interpreting such law and (g) the terms “license” and “lease” shall include sublicense and sublease, respectively. 

Section 1.04 Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature
that are used in calculating any financial ratio or test (including the Total Leverage Ratio, the Secured Leverage Ratio, the First Lien Leverage Ratio, the Interest Coverage Ratio and the amount of Adjusted EBITDA or the amount of Consolidated
Total Assets (or any component definitions of any of the foregoing)) shall be construed and interpreted in accordance with GAAP, as in effect on the Effective Date unless otherwise agreed to by the Parent Borrower and the 

  
 CREDIT AGREEMENT, Page 51 

 
Required Lenders; provided that, if the Parent Borrower notifies the Administrative Agent that the Parent Borrower requests an amendment to any provision hereof to eliminate the effect of
any change occurring after the date hereof in GAAP or the application thereof on the operation of such provision (or if the Administrative Agent notifies the Parent Borrower that the Required Lenders request an amendment to any provision hereof for
such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP (or the application thereof) 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. 

Notwithstanding the foregoing, (a) Capital Lease Obligations shall be excluded from (i) the calculation of Interest Charges, (ii) for the
purposes of calculating the Total Leverage Ratio, Secured Leverage Ratio, the First Lien Leverage Ratio and Total Indebtedness, (iii) for the purposes of Section 6.01, Indebtedness and (iv) Section 6.04(o) (to the
extent recharacterized as a Capital Lease Obligation after such lease is entered into), in each case, to the extent such Capital Lease Obligations would have been characterized as operating leases based on GAAP as of the Effective Date and
(b) for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the Parent Borrower and its Subsidiaries shall be determined without giving effect to
(i) any election under Accounting Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or Financial Accounting Standard having a similar
result or effect) to value any Indebtedness or other liabilities of the Parent Borrower or any subsidiary at “fair value”, as defined therein and (ii) any treatment of Indebtedness in respect of convertible debt instruments under
Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and
such Indebtedness shall at all times be valued at the full stated principal amount thereof). 
 If the Parent Borrower notifies the Administrative Agent
that it is required to report under IFRS or has elected to do so through an early adoption policy, upon the execution of an amendment hereof in accordance therewith to accommodate such change, “GAAP” means international financial reporting
standards pursuant to IFRS (provided that after such conversion, the Parent Borrower cannot elect to report under GAAP), it being understood and agreed that all financial statements shall be prepared in accordance with IFRS. 

Section 1.05 Business Days; Payments. If any payment or performance under any Loan Document shall be due on a day that is not a
Business Day, the date for payment or performance shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. 

Section 1.06 Exchange Rates; Currency Equivalents. Unless expressly provided otherwise, any amounts specified in this Agreement
shall be in dollars. 
 (a) The Administrative Agent shall determine the Spot Rates as of each Revaluation Date to be used
for calculating the Dollar Equivalent amounts of Loans and Letters of Credit denominated in an Alternative Currency. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts
between any Alternative Currency and dollars until the next Revaluation Date to occur. 

  
 CREDIT AGREEMENT, Page 52 

 (b) The Administrative Agent shall determine the Dollar Equivalent of any Foreign
Currency Letter of Credit or Borrowing not denominated in dollars in accordance with the terms set forth herein, and a determination thereof by the Administrative Agent shall be presumptively correct absent manifest error. The Administrative Agent
may, but shall not be obligated to, rely on any determination made by any Borrower in any document delivered to the Administrative Agent. 

(c) The Administrative Agent shall determine the Dollar Equivalent of any Foreign Currency Letter of Credit as of (i) a
date on or about the date on which the applicable Issuing Bank receives a request from the applicable Borrower for the issuance of such Letter of Credit, (ii) each subsequent date on which such Letter of Credit shall be renewed or extended or
the stated amount of such Letter of Credit shall be increased, (iii) March 31 and September 30 in each year and (iv) during the continuance of an Event of Default, as reasonably requested by the Administrative Agent, in each case
using the Spot Rate in effect on the date of determination, and each such amount shall be the Dollar Equivalent of such Letter of Credit until the next required calculation thereof pursuant to this Section 1.06(c). 

(d) The Administrative Agent shall determine the Dollar Equivalent of any Borrowing not denominated in dollars as of (i) a
date on or about the date on which the Administrative Agent receives a Borrowing Request in respect of such Borrowing using the Spot Rate in effect on the date of determination, (ii) as of the date of the commencement of each Interest Period
after the initial Interest Period therefor and (iii) during the continuance of an Event of Default, as reasonably requested by the Administrative Agent, using the Spot Rate in effect (x) in the case of clauses (i) and
(ii) above, on the date that is three (3) Business Days prior to the date on which the applicable Interest Period shall commence, and (y) in the case of clause (iii) above, on the date of determination, and each
such amount shall be the Dollar Equivalent of such Borrowing until the next required calculation thereof pursuant to this Section 1.06(d). 

(e) The Administrative Agent shall notify the Borrowers, the Lenders and the applicable Issuing Bank of each such determination
(such date, a “Revaluation Date”) and revaluation of the Dollar Equivalent of each Letter of Credit and Borrowing. 

(f) The Administrative Agent may set up appropriate rounding-off mechanisms or otherwise round off amounts pursuant to this
Section 1.06 to the nearest higher or lower amount in whole dollars or cents to ensure amounts owing by any party hereunder or that otherwise need to be calculated or converted hereunder are expressed in whole dollars or in whole cents,
as may be necessary or appropriate. 
 (g) Unless otherwise provided, Dollar Equivalent amounts set forth in Articles
II or VIII may be exceeded by a percentage amount equal to 5% of such amount; provided, that such excess is solely as a result of fluctuations in applicable currency exchange rates after the last time such determinations were made
and, in any such cases, the applicable limits set forth in Articles II or VIII, as applicable, will not be deemed to have exceeded solely as a result of such fluctuations in currency exchange rates. For the avoidance of doubt, in no
event shall a prepayment be required under Section 2.11(b) if the Dollar Equivalent of the relevant amounts set forth therein does not exceed 5% of such relevant amounts solely as a result of fluctuations in currency exchange rates. 

  
 CREDIT AGREEMENT, Page 53 

 (h) 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 Loan Party 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 Loan Party in the Agreement Currency, such Loan Party 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 Loan Party (or to any other Person who may be entitled thereto under applicable law) 
 For purposes of any
determination under Article V, Article VI (other than the calculation of compliance with any financial ratio for purposes of taking any action hereunder) or Article VIII with respect to the amount of any Indebtedness, Lien,
Restricted Payment, debt prepayment, Investment, Disposition, sale and lease-back transaction, affiliate transaction or other transaction, event or circumstance, or any determination under any other provision of this Agreement (any of the foregoing,
a “subject transaction”), in a currency other than dollars, (i) the Dollar Equivalent of a subject transaction in a currency other than dollars shall be calculated based on the rate of exchange quoted on the applicable Reuters
World Currency Page (or any successor page thereto, or in the event such rate does not appear on any Reuters Page, by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent
and the Parent Borrower) for such foreign currency, as in effect at 12:00 noon (London time) on the date of such subject transaction (which, in the case of any Restricted Payment, shall be deemed to be the date of the declaration thereof and, in the
case of the incurrence of Indebtedness, shall be deemed to be on the date first committed); provided, that if any Indebtedness is incurred (and, if applicable, associated Lien granted) to refinance or replace other Indebtedness denominated in
a currency other than dollars, and the relevant refinancing or replacement would cause the applicable dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing or
replacement, such dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing or replacement Indebtedness (and, if applicable, associated Lien granted) does not exceed an amount
sufficient to repay the principal amount of such Indebtedness being refinanced or replaced, except by an amount equal to (x) unpaid accrued interest and premiums (including tender premiums) thereon plus other reasonable and customary
fees and expenses (including upfront fees and original issue discount) incurred in connection with such refinancing or replacement and (y) additional amounts permitted to be incurred under Section 6.01 and (ii) for the
avoidance of doubt, no Default or Event of Default shall be deemed to have occurred solely as a result of a change in the rate of currency exchange occurring after the time of any subject transaction so long as such subject transaction was permitted
at the time incurred, made, acquired, committed, entered or declared as set forth in clause (i). For purposes of Article VII and the 

  
 CREDIT AGREEMENT, Page 54 

 
calculation of compliance with any financial ratio for purposes of taking any action hereunder, on any relevant date of determination, amounts denominated in currencies other than dollars shall
be translated into dollars at the applicable currency exchange rate used in preparing the financial statements delivered pursuant to Sections 5.01(a) or (b), as applicable, for the relevant four fiscal quarter period and will, with
respect to any Indebtedness, reflect the currency translation effects, determined in accordance with GAAP, of any Swap Agreement permitted hereunder in respect of currency exchange risks with respect to the applicable currency in effect on the date
of determination for the Dollar Equivalent amount of such Indebtedness. 
 Section 1.07 Cashless Rollovers. Notwithstanding
anything to the contrary contained in this Agreement or in any other Loan Document, to the extent that any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Loans (including with Incremental Loans,
Loans in connection with any Specified Refinancing Debt or loans incurred under a new credit facility), in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a “cashless roll” by such
Lender, such extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Loan Document that such payment be made “in dollars”, “in immediately available funds”, “in
cash” or any other similar requirement. 
 Section 1.08 Dutch Terms. In this Agreement, where it relates to a Dutch entity,
a reference to: 
 (a) a necessary action to authorize, where applicable, includes without limitation: 

(i) any action required to comply with the Dutch Works Council Act (Wet op de ondernemingsraden); and 

(ii) obtaining unconditional positive advice (advies) from each competent works council; 

(b) a winding-up, administration or dissolution includes a Dutch entity being: 

(i) declared bankrupt (failliet verklaard); 

(ii) dissolved (ontbonden); 

(c) a moratorium includes surséance van betaling and granted a moratorium includes surseance verleend;

 (d) any petition or proceeding taken in connection with insolvency proceedings includes a Dutch entity having filed a
notice under Section 36 of the Tax Collection Act of The Netherlands (Invorderingswet 1990) of Section 60 of the Social Insurance Financing Act of The Netherlands (Wet Financiering Sociale Verzekeringen) in conjunction with
Section 36 of the Tax Collection Act of The Netherlands (Invorderingswet 1990); 
 (e) a trustee in bankruptcy or
a liquidator includes a curator; 
 (f) an administrator includes a bewindvoerder; 

(g) a receiver or an administrative receiver does not include a curator or bewindvoerder; 

  
 CREDIT AGREEMENT, Page 55 

 (h) an attachment includes a beslag; and 

(i) an authorized officer means a managing director (bestuurder) or general partner (beherend vennoot). 

If any party to any Loan Document incorporated under the laws of The Netherlands is represented by an attorney in connection with the signing and/or execution
of such Loan Document (including by way of accession to such Loan Document) or any other agreement, deed or document referred to in or made pursuant to such Loan Document, it is hereby expressly acknowledged and accepted by the other parties hereto
that the existence and extent of the attorney’s authority and the effects of the attorney’s exercise or purported exercise of his or her authority shall be governed by the laws of The Netherlands unless explicitly stated otherwise;
provided that if such party is represented by an attorney/agent based on a power of attorney granted under such Loan Document, the existence and extent of the attorney/agent’s authority and the effects of the attorney/agent’s
exercise or purported exercise of his or her authority shall be governed by the laws governing the applicable Loan Document. 

Section 1.09 Agreed Security Principles. The provision of Collateral and Guarantees pursuant to the Guaranty Agreements and the
terms of the Security Documents and each other guaranty delivered or to be delivered under this Agreement shall be subject in all respects to the Agreed Security Principles set forth in Schedule 1.09. 

Section 1.10 Certain Calculations and Tests. 

(a) Any financial ratios required to be satisfied in order for a specific action to be permitted under this Agreement shall be
calculated by dividing the appropriate component by the other component, carrying the result to one decimal place more than the number of decimal places by which such ratio is expressed herein and rounding the result up or down to the nearest number
(with a rounding up if there is no nearest number). 
 (b) Notwithstanding anything to the contrary herein, but subject to
Sections 1.10(c), (d) and (f), all financial ratios and tests (including the First Lien Leverage Ratio, Secured Leverage Ratio, the Total Leverage Ratio, the Interest Coverage Ratio and the amount of Consolidated Total
Assets and Adjusted EBITDA and the component definitions of any of the foregoing) contained in this Agreement that are calculated with respect to any fiscal period during which any transaction described in the definition of Pro Forma Basis (such
transaction, a “Pro Forma Transaction”) occurs shall be calculated with respect to such fiscal period and such Pro Forma Transaction on a Pro Forma Basis. Further, other than with respect to determining the Applicable Rate, actual
(as opposed to pro forma) compliance with the Financial Covenants and the calculation of Excess Cash Flow and asset sale/casualty prepayment percentages, if since the beginning of any such fiscal period and on or prior to the date of any required
calculation of any financial ratio or test (x) any Pro Forma Transaction has occurred or (y) any Person that subsequently became a Restricted Subsidiary or was merged, amalgamated or consolidated with or into the Parent Borrower or any
Restricted Subsidiary since the beginning of such fiscal period has consummated any Pro Forma Transaction, then, in each case, any applicable financial ratio or test shall be calculated on a Pro Forma Basis for such fiscal period as if such Pro
Forma Transaction had occurred at the beginning of the applicable fiscal period (or, in the case of Consolidated Total Assets (or with respect to any determination pertaining to the balance sheet, including the acquisition of cash and Permitted
Investments), as of the last day of such fiscal period). 

  
 CREDIT AGREEMENT, Page 56 

 (c) Notwithstanding anything to the contrary herein (including in connection with
any calculation made on a Pro Forma Basis), to the extent that the terms of this Agreement require (i) compliance with any financial ratio or test (including the First Lien Leverage Ratio, Secured Leverage Ratio, Total Leverage Ratio and the
amount of Adjusted EBITDA and Consolidated Total Assets and the component definitions of any of the foregoing), (ii) the absence of a Default or Event of Default (or any type of Default or Event of Default) or (iii) the making of any
representation or warranty, in each case as a condition to (A) the consummation of any transaction in connection with any acquisition or similar Investment (including the assumption or incurrence of Indebtedness (including any Incremental
Facility or Incremental Equivalent Debt)), (B) the making of any Restricted Payment and/or (C) the making of any Restricted Indebtedness payment, in each case in connection with a Limited Condition Acquisition, at the election of the
Parent Borrower (the “LCA Election”), the determination of whether the relevant condition is satisfied may be made at the time (the “LCA Test Time”) of (or on the basis of the financial statements for the most
recently ended fiscal period at the time of) the execution of the definitive agreement with respect to such Limited Condition Acquisition. If the Parent Borrower has made an LCA Election, then, in connection with any calculation of any financial
ratio or test (other than with respect to determining the Applicable Rate, actual (as opposed to pro forma) compliance with the Financial Covenants and the calculation of Excess Cash Flow asset sale/casualty prepayment percentages) following such
LCA Test Time and prior to the earlier of the date on which such Limited Condition Acquisition is consummated or the definitive agreement with respect thereto is terminated, any such financial ratio or test shall be calculated (and tested) on a Pro
Forma Basis assuming such Limited Condition Acquisition and other subject transactions in connection therewith have been consummated. 

(d) For purposes of determining the permissibility of any action, change, transaction or event that by the terms of the Loan
Documents requires a calculation of any financial ratio or test (including the First Lien Leverage Ratio, the Secured Leverage Ratio, the Total Leverage Ratio, the Interest Coverage Ratio and the amount of Adjusted EBITDA or Consolidated Total
Assets and the component definition of any of the foregoing), such financial ratio or test shall be calculated at the time (subject to clause (c) above) such action is taken (which action, in the case of any borrowing or other credit
extension under or pursuant to a revolving facility, shall all be deemed to have occurred on the date the documentation with respect to such revolving facility was first executed, to the extent of the maximum drawing thereunder that would be
permitted under such ratio or test as of such applicable date assuming such revolving facility was so drawn), such change is made, such transaction is consummated or such event occurs, as the case may be, and no Default or Event of Default shall be
deemed to have occurred solely as a result of a change in such financial ratio or test occurring after the time such action is taken, such change is made, such transaction is consummated or such event occurs, as the case may be. 

(e) For purposes of determining compliance at any time with Sections 6.01, 6.02, 6.03, 6.04,
6.05, 6.08 and 6.09, in the event that any Indebtedness, Lien, Restricted Payment, Restricted Indebtedness payment, contractual restriction, Investment, Disposition or Affiliate transaction, as applicable, meets the criteria of
more than one of the categories of transactions or items permitted pursuant to any clause of such Sections 6.01, 6.02, 6.03, 6.04, 6.05, 6.08 and 6.09, the Parent Borrower, in its sole discretion,
from time to time, may classify or reclassify such transaction or item (or portion thereof) and will only be required to include the amount and type of such transaction (or portion thereof) in any one category. Further, for the avoidance of doubt,
any Indebtedness, Lien, Restricted Payment, Restricted Indebtedness payment, contractual restriction, Investment, Disposition and Affiliate transaction need not be permitted 

  
 CREDIT AGREEMENT, Page 57 

 
solely by reference to one category of permitted Indebtedness, Lien, Restricted Payment, Restricted Indebtedness payment, contractual restriction, Investment, Disposition and Affiliate
transaction under Sections 6.01, 6.02, 6.03, 6.04, 6.05, 6.08 and 6.09, but may instead be permitted in party under any combination of the clauses contained in any of such Sections. 

(f) Notwithstanding anything to the contrary herein, unless the Parent Borrower otherwise notifies the Administrative Agent,
with respect to any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement that does not require compliance with a financial ratio or test (including the First Lien Leverage Ratio, Secured
Leverage Ratio, Total Leverage Ratio, Interest Coverage Ratio and the amount of Consolidated Total Assets and Adjusted EBITDA and the component definitions of any of the foregoing) (any such amounts, the “Fixed Amounts”)
substantially concurrently with any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement that requires compliance with a financial ratio or test (including the First Lien Leverage Ratio, Secured
Leverage Ratio, Total Leverage Ratio, Interest Coverage Ratio and the amount of Consolidated Total Assets and Adjusted EBITDA and the component definitions of any of the foregoing) then in connection with any calculation of any financial ratio or
basket availability (any such amounts, the “Incurrence-Based Amounts”), it is understood and agreed that the Fixed Amounts shall be disregarded in the calculation of the financial ratio or test applicable to the Incurrence-Based
Amounts. 
 ARTICLE II 

The Credits 

Section 2.01 Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees (a) to make a
USD Term A Loan in dollars to the Parent Borrower on the Rothsay Acquisition Closing Date in an aggregate principal amount not exceeding its USD Term A Commitment, (b) to make a CAD Term A Loan in Canadian Dollars to the Canadian Borrower on
the Rothsay Acquisition Closing Date in an aggregate principal amount not exceeding its CAD Term A Commitment, (c) to make Term B USD Loans in dollars to the Parent Borrower on the Vion Acquisition ClosingFifth Amendment Date in an aggregate principal amount not exceeding its Term B USD Commitment, (d) to make Term B EUR Loans in Euro
to the Dutch Parent Borrower on the Vion Acquisition Closing Date in an aggregate principal amount not exceeding its Term B EUR Commitment, (e) to make USD/Multicurrency Revolving Loans
in (x) dollars or Alternative Currencies to the Parent Borrower, (y) Canadian Dollars to the Canadian Borrower and (z) dollars or Alternative Currencies to the Dutch Parent Borrower, the Dutch Subsidiary Borrowers and the German Subsidiary Borrower, in each case, from time to time during the Revolving Availability Period in an aggregate
principal amount that will not result in (i) the Dollar Equivalent of such Lender’s USD/Multicurrency Revolving Exposure exceeding such Lender’s USD/Multicurrency Revolving Commitment, or
(ii) the aggregate Dollar Equivalent of the USD/Multicurrency Revolving Exposure of all Lenders exceeding the aggregate USD/Multicurrency Revolving Commitment of all Lenders
or (iii) the Dollar Equivalent of the aggregate Multicurrency Revolving Exposure exceeding the Multicurrency Revolving Sublimit and
(fe) to make USD Only Revolving Loans in dollars to the Parent Borrower from time to time during the Revolving Availability Period in an aggregate principal amount that will not result in (i) such Lender’s
USD Only Revolving Exposure exceeding such Lender’s USD Only Revolving Commitment or (ii) the aggregate USD Only Revolving Exposure of all Lenders exceeding the aggregate USD Only Revolving Commitment of all Lenders. Within the foregoing
limits and subject to the terms and conditions set forth herein, the 
 Borrowers may borrow, prepay and reborrow Revolving Loans. Amounts repaid in
respect of Term Loans may not be reborrowed. 

  
 CREDIT AGREEMENT, Page 58 

 Subject to the terms and conditions set forth herein, including Section 2.23, and in
the relevant Ancillary Facility Documents, any Revolving Lender may make one or more Ancillary Facilities available to any applicable Borrower. For the avoidance of doubt, any reference to a Loan or Letter of Credit shall not include any utilization
of any Ancillary Facility. 
 Section 2.02 Loans and Borrowings. 

(a) Loans Made Ratably. Each Loan (other than a Swingline Loan) shall be made as part of a Borrowing consisting of Loans
of the same Class and Type made by the Lenders ratably in accordance with their respective Commitments of the applicable Class; provided that dollar denominated Revolving Loans shall be made ratably under the combined Revolving Facility
(versus under either the USD Only Revolving Facility and the USD/Multicurrency Revolving Facility) in accordance with the Lenders’ respective Revolving Commitments. The failure of any Lender to make any Loan required to be made by it shall not
relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 

(b) Initial Type of Loans. Subject to Section 2.14, (i) each Term Borrowing by the Parent Borrower in
dollars shall be comprised entirely of ABR Loans or Eurodollar Loans as the Parent Borrower may request in accordance herewith and each Term Borrowing denominated in Euro shall be comprised entirely of Eurodollar Loans, (ii) each Revolving
Borrowing by the Parent Borrower, the Dutch Parent Borrower, the Dutch Subsidiary Borrowers and the German Subsidiary
Borrower shall be comprised entirely of ABR Loans, Eurodollar Loans or CDOR Rate Loans as the relevant Borrower may request in accordance herewith and (iii) subject to the next sentence, each Borrowing by the Canadian Borrower shall be
comprised entirely of CDOR Rate Loans. Each Swingline Loan shall be denominated in dollars, Canadian Dollars or Euro and shall be an ABR Loan, Canadian Prime Rate Loan or Euro Swingline Rate Loan, respectively. Each Lender at its option may make any
Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrowers to repay such Loan in accordance with the terms of this
Agreement. 
 (c) Minimum Amounts; Limitation on Eurodollar Borrowings and CDOR Rate Loans. At the commencement
of each Interest Period for any Eurodollar Borrowing or CDOR Rate Borrowing, as applicable, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000 (or in the Dollar Equivalent thereof
with respect to Loans in any Alternative Currency other than Canadian Dollars or Euro), €1,000,000 and not less than €5,000,000 and $C1,000,000 and not less than $C2,500,000, as applicable. At the time that each ABR Revolving Borrowing is
made, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000; provided that Revolving Borrowings may be in an aggregate amount that is equal to the entire unused balance of the
total Revolving Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.05(e). Each Swingline Loan shall be in an amount that is an integral multiple of $1.00 (or €1 or $C1)
and not less than $100,000 (or €100,000 or $C100,000). Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time be more than a total of 15 Eurodollar Borrowings and a total
of 10 CDOR Rate Borrowings outstanding at any time. 

  
 CREDIT AGREEMENT, Page 59 

 (d) Limitation on Interest Periods. Notwithstanding any other provision of
this Agreement, the Borrowers shall not be entitled to request, or to elect to convert or continue, any Borrowing as a Eurodollar Loan or CDOR Rate Loan if the Interest Period requested with respect thereto would end after the Revolving Maturity
Date, the Term A Loan Maturity Date, in the case of a Revolving Loan or Term A Loan, or the Term Loan B Maturity Date, in the case of a Term B Loan, as applicable. 

Section 2.03 Requests for Borrowings. To request a Revolving Borrowing or Term Borrowing, the applicable Borrower shall notify the
Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing or a CDOR Rate Borrowing, not later than 11:00 a.m., Local Time, three (3) Business Days before the date of the proposed Borrowing or (b) in
the case of an ABR Borrowing, not later than 11:00 a.m., Local Time, one Business Day before the date of the proposed Borrowing; provided that any such notice of an ABR Revolving Borrowing or CDOR Rate Borrowing to finance the reimbursement
of an LC Disbursement as contemplated by Section 2.05(e) may be given not later than 10:00 a.m., Local Time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed
promptly by telecopy or email to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by the applicable Borrower. Each such telephonic and written Borrowing Request shall specify the
following information in compliance with Section 2.02: 
 (i) whether the requested Borrowing is to be a
Revolving Borrowing, or a Term Borrowing (and, as applicable, the Class of such Borrowing); 
 (ii) the identity of the
Borrower and the aggregate amount and currency of such Borrowing; 
 (iii) the date of such Borrowing, which shall be a
Business Day; 
 (iv) whether such Borrowing is to be an ABR Borrowing, a Eurodollar Borrowing or a CDOR Rate Borrowing; 

(v) in the case of a Eurodollar Borrowing or CDOR Rate Borrowing, the initial Interest Period to be applicable thereto, which
shall be a period contemplated by the definition of the term “Interest Period”; and 
 (vi) the location and number
of the applicable Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.06. 
 If no
election as to the Type of a Borrowing by the Parent Borrower in dollars is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing or CDOR Rate
Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent
shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. 

  
 CREDIT AGREEMENT, Page 60 

 Section 2.04 Swingline Loans. 

(a) Commitment. Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline
Loans to the Parent Borrower, the Dutch Parent Borrower, the Dutch Subsidiary Borrowers and the German Subsidiary Borrower in
dollars and Euro and to the Canadian Borrower in Canadian Dollars, in each case, from time to time during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i) the Dollar
Equivalent of the aggregate principal amount of outstanding Swingline Loans exceeding $50,000,000, (ii) the Dollar Equivalent of the sum of the total Revolving Exposures exceeding the total Revolving Commitments, (iii) the USD Only
Revolving Exposures exceeding the USD Only Revolving
Commitment, and (iv) the USD/Multicurrency Revolving Exposures exceeding the USD/Multicurrency Revolving Commitment and (v) the Dollar Equivalent
of the aggregate Multicurrency Revolving Exposure exceeding the Multicurrency Revolving Sublimit; provided that the Swingline Lender shall not be required to make a Swingline Loan to
refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the relevant Borrower may borrow, prepay and reborrow Swingline Loans. 

(b) Borrowing Procedure. To request a Swingline Loan, the applicable Borrower shall notify the Administrative Agent of
such request by telephone (confirmed by telecopy or email), not later than 1:00 p.m., Local Time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and
amount of the requested Swingline Loan; provided that any notice requesting a Swingline Loan in Canadian Dollars or Euro shall be accompanied by a borrowing notice for a Borrowing three (3) Business Days hence for a like amount of
Multicurrency Revolving Loans denominated in the currency of the proposed Swingline Loan pursuant to Section 2.03 (it being understood such notice for such Multicurrency Revolving Loans may be delivered not later than 1:00 p.m. Local
Time instead of 11:00 a.m. Local Time), which notice shall only be revocable if such Swingline Loan denominated in Canadian Dollars or Euro is not made; the proceeds of any such Multicurrency Revolving Loans made shall be applied by the Borrowers
first, to repay the principal of such Swingline Loan and any interest owing thereunder to the Swingline Lender, with any amounts in excess thereof to be retained by the applicable Borrower. The Administrative Agent will promptly advise the Swingline
Lender of any such notice received from such Borrower. The Swingline Lender shall make each Swingline Loan available to the applicable Borrower by means of a credit to the general deposit account of the applicable Borrower with the Swingline Lender
or by wire transfer, automated clearinghouse debit or interbank transfer to such other account, accounts or Persons designated by the applicable Borrower in the applicable request (or, in the case of a Swingline Loan made to finance the
reimbursement of an LC Disbursement as provided in Section 2.05(e), by remittance to the Issuing Bank) by 3:00 p.m., Local Time, on the requested date of such Swingline Loan. 

(c) Revolving Lender Participation in Swingline Loans. The Swingline Lender may by written notice given to the
Administrative Agent not later than 10:00 a.m., Local Time, on any Business Day require the Revolving Lenders to acquire participations on such Business Day in all or a portion of the dollar denominated Swingline Loans outstanding; provided
that such dollar denominated Swingline Loans shall be participated in (and paid) under the combined Revolving Facility (versus under either the USD oOnly Revolving Facility and the USD/Multicurrency Revolving Facility) in accordance with
the lenders’ respective Revolving Commitments. Such notice shall specify the aggregate amount of dollar denominated Swingline 

  
 CREDIT AGREEMENT, Page 61 

 
Loans in which Revolving Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each applicable Revolving Lender, specifying in such
notice such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Revolving Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the
Swingline Lender, such Lender’s Applicable Percentage of such Swingline Loan or Loans in dollars. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is
absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset,
abatement, withholding or reduction whatsoever. Each Revolving Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.06 with respect to
Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so
received by it from the Revolving Lenders. The Administrative Agent shall notify the applicable Borrower in writing of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline
Loan shall be made to the Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender from the applicable Borrower (or other party on behalf of the applicable Borrower) in respect of a Swingline Loan after
receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent
to the Revolving Lenders that shall have made their payments pursuant to this paragraph and to the Swingline Lender, as their interests may appear; provided that any such payment so remitted shall be repaid to the Swingline Lender or to the
Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the applicable Borrower (or such other Person) for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall
not relieve the applicable Borrower of any default in the payment thereof. 
 Section 2.05 Letters of Credit. 

(a) General. Subject to the terms and conditions set forth herein, the Parent Borrower, the Dutch Parent Borrower, the
Dutch Subsidiary Borrowers and the German Subsidiary Borrower may request the issuance of Letters of Credit denominated in
dollars or Alternative Currencies for such Borrower’s own account (or the account of any of its Subsidiaries) and the Canadian Borrower may request the issuance of Letters of Credit denominated in Canadian Dollars for its own account (or the
account of any of its Subsidiaries), in a form reasonably acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time during the Revolving Availability Period. In the event of any inconsistency between the terms
and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the applicable Borrower to, or entered into by the applicable Borrower with, the Issuing Bank relating to any
Letter of Credit, the terms and conditions of this Agreement shall control. 

  
 CREDIT AGREEMENT, Page 62 

 (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions.
To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the applicable Borrower shall telecopy (or transmit by electronic communication, if arrangements for doing so have been
approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the
Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph
(c) of this Section 2.05), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If
requested by the Issuing Bank, the applicable Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit (but any default or breach under such application
and not hereunder shall not give rise to a Default or Event of Default hereunder). A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the applicable
Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the Dollar Equivalent of the LC Exposure shall not exceed $150,000,000, (ii) the Dollar Equivalent of the
total Revolving Exposures shall not exceed the total Revolving Commitments, (iii) the USD Only Revolving Exposures exceeding the USD Only Revolving Commitment, and (iv) the USD/Multicurrency Revolving Exposures exceeding the USD/Multicurrency
Revolving Commitment and (v) to the extent a Letter of Credit has been requested to be issued, amended, renewed or extended in an Alternative Currency, the Dollar
Equivalent of the aggregate Multicurrency Revolving Exposure shall not exceed the Multicurrency Revolving Sublimit.. 

(c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of
(i) unless consented to by the Issuing Bank, the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) (provided that any
Letter of Credit with a one-year term may provide for the automatic renewal thereof for additional one-year periods not to extend past the date in clause (ii) below unless the applicable Borrower shall have made arrangements reasonably
satisfactory to the applicable Issuing Bank) and (ii) the date that is five (5) Business Days prior to the Revolving Maturity Date unless the applicable Borrower shall have made arrangements reasonably satisfactory to the applicable
Issuing Bank with respect to cash collateralizing or backstopping such Letter of Credit. 
 (d) Participations. By the
issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Revolving Lender, and each
Revolving Lender hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage (or in the case of a Letter of Credit denominated in an Alternative Currency, the USD/Multicurrency
Applicable Percentage) of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay (in dollars, which in
the case of a Letter of Credit not denominated in dollars shall be determined based on the Dollar Equivalent, using the applicable Spot Rate in effect on the date such payment is required), to the Administrative Agent, for the account of the Issuing
Bank, such Lender’s Applicable Percentage (or in the case of a Letter of Credit denominated in an Alternative Currency, the USD/Multicurrency Applicable Percentage) of each LC Disbursement made by the Issuing Bank and not reimbursed by the
applicable Borrower on the date due as provided in paragraph (e) of this Section 2.05, or of any reimbursement payment required to be 

  
 CREDIT AGREEMENT, Page 63 

 
refunded to the applicable Borrower for any reason. Notwithstanding anything herein to the contrary, the Administrative Agent may, in its reasonable discretion, take such actions as it deems
advisable to allocate Letters of Credit and participations therein between any revolving facilities outstanding hereunder; it being understood that, subject to the preceding, dollar denominated Letters of Credit shall be allocated (and participated
in and paid) under the combined Revolving Facility (versus under either the USD Only Revolving Facility and the USD/Multicurrency Revolving Facility) in accordance with the Lenders’ respective Revolving Commitments. Each Lender acknowledges and
agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of
any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 

(e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the applicable
Borrower shall reimburse such LC Disbursement by paying to the Administrative Agent an amount equal to such LC Disbursement in the currency of such LC Disbursement not later than 4:00 p.m., Local Time, on the first Business Day after such LC
Disbursement is made if the applicable Borrower shall have received notice of such LC Disbursement prior to 10:00 a.m., Local Time, on such date, or, if such notice has not been received by the applicable Borrower prior to such time on such date
such notice shall be deemed received on the next day and then not later than 1:00 p.m., Local Time, on the Business Day immediately following the day that the applicable Borrower is deemed to have received such notice; provided that the
applicable Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Sections 2.03 or 2.04 that such payment be financed with an ABR Revolving Borrowing (in the case of a payment in dollars),
Eurodollar Borrowing (in the case of a payment in an Alternative Currency (other than Canadian Dollars)) or CDOR Rate Borrowing, as applicable, or Swingline Loan in an equivalent amount and, to the extent so financed, the applicable Borrower’s
obligation to make such payment shall be discharged and replaced by the resulting applicable Borrowing, or, if applicable, Swingline Loan. If the applicable Borrower fails to make such payment when due, then (A) if such payment relates to a
Foreign Currency Letter of Credit, automatically and with no further action required, such Borrower’s obligation to reimburse the applicable LC Disbursement shall be permanently converted into an obligation to reimburse the Dollar Equivalent,
calculated using the applicable Spot Rate on the date when such payment was due, of such LC Disbursement and (B) in the case of each LC Disbursement the Administrative Agent shall notify each Revolving Lender of the applicable LC Disbursement,
the payment then due from the applicable Borrower in respect thereof and such Lender’s Applicable Percentage (or in the case of a Letter of Credit denominated in Alternative Currency, the USD/Multicurrency Applicable Percentage) thereof.
Promptly following receipt of such notice, each Revolving Lender shall pay to the Administrative Agent in dollars its Applicable Percentage (or in the case of a Letter of Credit denominated in Alternative Currency, the USD/Multicurrency Applicable
Percentage) of the payment then due from the applicable Borrower, in the same manner as provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment
obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so received by it from the Revolving Lenders. Promptly following receipt by the Administrative Agent of any payment from the
applicable Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Lenders have made payments pursuant to this paragraph to

  
 CREDIT AGREEMENT, Page 64 

 
reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Revolving Lender pursuant to this paragraph to reimburse the Issuing
Bank for any LC Disbursement (other than the funding of ABR Revolving Loans (in the case of a payment in dollars), Eurodollar Revolving Loans (in the case of an Alternative Currency (other than Canadian Dollars)), CDOR Rate Loans or a Swingline Loan
as contemplated above) shall not constitute a Loan and shall not relieve the applicable Borrower of its obligation to reimburse such LC Disbursement in accordance with this Section 2.05(e). 

(f) Obligations Absolute. Each Borrower’s obligation to reimburse LC Disbursements as provided in paragraph
(e) of this Section 2.05 shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of
(i) any lack of validity or enforceability of any Letter of Credit or any Loan Document, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in
any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of
Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section 2.05, constitute a legal or equitable discharge of, or provide a right of
setoff against, any Borrower’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility by reason of or in connection with the
issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in
transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising
from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing Bank or its Related Parties from liability to the applicable Borrower to the extent of any direct damages (as opposed
to consequential damages, claims in respect of which are hereby waived by the applicable Borrower to the extent permitted by applicable law) suffered by the applicable Borrower that are caused by the Issuing Bank’s gross negligence, willful
misconduct or failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful
misconduct on the part of, or material breach of the terms of the Loan Documents by, the Issuing Bank, the Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the
generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make
payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the
terms of such Letter of Credit. 
 (g) Disbursement Procedures. The Issuing Bank shall, promptly following its receipt
thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative Agent and the applicable Borrower by telephone (confirmed by telecopy or email) of such
demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the applicable Borrower of its obligation to reimburse the
Issuing Bank and the Revolving Lenders with respect to any such LC Disbursement. 

  
 CREDIT AGREEMENT, Page 65 

 (h) Interim Interest. If the Issuing Bank shall make any LC Disbursement,
then, unless the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but
excluding the date that the applicable Borrower reimburses such LC Disbursement, (i) in the case of LC Disbursements made in dollars, and at all times following the conversion to dollars of an LC Disbursement made in an Alternative Currency
pursuant to paragraph (e) above, at the rate per annum then applicable to ABR Revolving Loans and (ii) in the case of LC Disbursements made in an Alternative Currency, and at all times prior to their conversion to dollars pursuant
to paragraph (e) above, at the rate applicable to CDOR Rate Loans or Eurodollar Rate Loans denominated in an Alternative Currency (other than Canadian Dollars), as applicable, with an Interest Period of one month’s duration
determined on the date such LC Disbursement is made; provided that, if the applicable Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section 2.05, then Section 2.13
(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this
Section 2.05 to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment. 

(i) Replacement of the Issuing Bank. An Issuing Bank may be replaced at any time by written agreement among the
Borrowers, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of an Issuing Bank. At the time any such replacement shall become effective, the
Borrowers shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the
rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any
previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the
rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. 

(j) Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the
applicable Borrower receives notice from the Administrative Agent or the Required Lenders demanding the deposit of cash collateral pursuant to this paragraph, the applicable Borrower shall deposit in an account with the Administrative Agent, in the
name of the Administrative Agent and for the benefit of the Lenders, an amount in cash in dollars or, if applicable, Alternative Currency, equal to the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that
the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to any
Borrower described in clause (h) or (i) of Section 8.01. Each such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the relevant

  
 CREDIT AGREEMENT, Page 66 

 
Obligations. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment
of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent and at the Borrowers’ risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments
shall accumulate in such account. Monies in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the
satisfaction of the reimbursement obligations of the relevant Borrowers for the LC Exposure at such time, if the maturity of the Loans has been accelerated (but subject to the consent of Revolving Lenders with LC Exposure representing greater than
50% of the total LC Exposure), be applied to satisfy other obligations of the relevant Borrowers under this Agreement. If any Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of
Default, such amount (to the extent not applied as aforesaid) shall be returned to the applicable Borrower within three (3) Business Days following a request to do so after all Events of Default have been cured or waived. 

(k) Conversion. In the event that the Loans become immediately due and payable on any date pursuant to
Section 8.01, all amounts (i) that a Borrower is at the time or thereafter becomes required to reimburse or otherwise pay to the Administrative Agent in respect of LC Disbursements made under any Foreign Currency Letter of Credit
(other than amounts in respect of which such Borrower has deposited Cash Collateral pursuant to paragraph (j) above, if such Cash Collateral was deposited in the applicable Foreign Currency to the extent so deposited or applied),
(ii) that the Lenders are at the time or thereafter become required to pay to the Administrative Agent and the Administrative Agent is at the time or thereafter becomes required to distribute to the applicable Issuing Bank pursuant to
paragraph (e) of this Section 2.05 in respect of unreimbursed LC Disbursements made under any Foreign Currency Letter of Credit and (iii) of each Lender’s participation in any Foreign Currency Letter of Credit under
which an LC Disbursement has been made shall, automatically and with no further action required, be converted into the Dollar Equivalent, calculated using the applicable Spot Rates on such date (or in the case of any LC Disbursement made after such
date, on the date such LC Disbursement is made), of such amounts. On and after such conversion, all amounts accruing and owed to the Administrative Agent, the applicable Issuing Bank or any Lender in respect of the obligations described in this
paragraph (k) shall accrue and be payable in dollars at the rates otherwise applicable hereunder. 
 Section 2.06
Funding of Borrowings. 
 (a) By Lenders. Each Lender shall make each Loan to be made by it hereunder on the
proposed date thereof by wire transfer of immediately available funds by 12:00 noon, Local Time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders; provided that Swingline
Loans shall be made as provided in Section 2.04. The Administrative Agent will make such Loans available to the applicable Borrower by promptly crediting the amounts so received, in like funds, to an account of the applicable Borrower
maintained with the Administrative Agent or by wire transfer, automated clearing house debit or interbank transfer to such other account, accounts or Persons designated by the applicable Borrower in the applicable Borrowing Request; provided
that Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.05(e) shall be remitted by the Administrative Agent to the Issuing Bank. 

  
 CREDIT AGREEMENT, Page 67 

 (b) Fundings Assumed Made. Unless the Administrative Agent shall have
received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made
such share available on such date in accordance with paragraph (a) of this Section 2.06 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 Borrowing available to the Administrative Agent, then the applicable Lender and the applicable Borrower severally agree to pay to the Administrative Agent forthwith on demand (without duplication)
such corresponding amount 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 (i) in the case of such
Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the applicable Borrower, the interest rate
applicable to ABR Loans, or if applicable for Borrowings denominated in an Alternative Currency, a rate determined in a customary manner in good faith by the Administrative Agent. If such Lender pays such amount to the Administrative Agent, then
such amount shall constitute such Lender’s Loan included in such Borrowing. 
 Section 2.07 Interest Elections. 

(a) Conversion and Continuation. Each Revolving Borrowing and Term Borrowing initially shall be of the Type specified in
the applicable Borrowing Request and, in the case of a Eurodollar Borrowing or a CDOR Rate Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Borrower may elect to convert such
Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing or CDOR Rate Borrowing, may elect Interest Periods therefor, all as provided in this Section 2.07. The applicable Borrower may elect
different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion
shall be considered a separate Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued. 

(b) Delivery of Interest Election Request. To make an election pursuant to this Section 2.07, the applicable
Borrower shall notify the Administrative Agent of such election by telephone by the time that a Borrowing Request would be required under Section 2.03 if the applicable Borrower were requesting a Revolving Borrowing of the Type resulting
from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by telecopy or email to the Administrative Agent of a written Interest Election
Request in a form approved by the Administrative Agent and signed by the applicable Borrower. 
 (c) Contents of Interest
Election Request. Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02: 

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

  
 CREDIT AGREEMENT, Page 68 

 (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing, a Eurodollar
Borrowing or a CDOR Rate Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Borrowing or a CDOR Rate
Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 

If any such Interest Election Request requests a Eurodollar Borrowing or a CDOR Rate Borrowing but does not specify an Interest Period, then the applicable
Borrower shall be deemed to have selected an Interest Period of one month’s duration. 
 (d) Notice to the
Lenders. Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e) Automatic Conversion. If the applicable Borrower fails to deliver a timely Interest Election Request with respect to
a Eurodollar Borrowing or CDOR Rate Borrowing prior to the third Business Day prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing
shall be converted to an ABR Borrowing or, in the case of Borrowings denominated in Euro or Canadian Dollars, a Eurodollar Borrowing or a CDOR Rate Borrowing in each case with an Interest Period of one month’s duration, respectively. 

(f) Limitations on Election. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is
continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the applicable Borrower in writing, then, so long as an Event of Default is continuing (i) no outstanding Borrowing denominated in dollars may be
converted to or continued as a Eurodollar Borrowing, (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto and (iii) each Borrowing denominated in an
Alternative Currency will, at the expiration of the then current Interest Period each such Borrowing, be automatically continued as a Borrowing of Eurodollar Loans or CDOR Rate Loans, as applicable, with an Interest Period of one month. 

Section 2.08 Termination and Reduction of Commitments. 

(a) Termination Date. Unless previously terminated, the Revolving Commitments shall terminate on the Revolving Maturity
Date. 
 (b) Optional Termination or Reduction. The Parent Borrower may at any time terminate, or from time to time
reduce, the Commitments of any Class; provided that (i) each reduction of the Commitments of any Class shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 (or, if less, the remaining amount of
the relevant Commitments) and (ii) the Parent Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in 

  
 CREDIT AGREEMENT, Page 69 

 
accordance with Section 2.11, (i) any Lender’s Revolving Exposure exceeds such Lender’s Revolving
Commitment, or (ii) the aggregate Revolving Exposure of all Lenders exceeds the aggregate Revolving Commitment of all Lenders or (iii) the
Dollar Equivalent of the aggregate Multicurrency Revolving Exposure exceeds the Multicurrency Revolving Sublimit, in each case, calculated based on the Dollar Equivalent amount as of such
date of termination or reduction. 
 (c) Notice of Termination or Reduction. The Parent Borrower shall notify
the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this Section 2.08 at least three (3) Business Days (or such shorter period as shall be agreed by the Administrative
Agent) prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each
notice delivered by the Parent Borrower pursuant to this Section 2.08(c) shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Parent Borrower may state that such notice is
conditioned upon the effectiveness of other transactions, in which case such notice may be revoked by the Parent Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any
termination or reduction of the Commitments of any Class shall be permanent. Each reduction of the Commitments of any Class shall be made ratably among the Lenders in accordance with their respective Commitments of such Class. 

Section 2.09 Repayment of Loans; Evidence of Debt. 

(a) Promise to Pay. Each Borrower hereby unconditionally promises to pay (i) to the Administrative Agent for the
account of each Revolving Lender the then unpaid principal amount of each Revolving Loan of such Lender made to such Borrower on the Revolving Maturity Date, (ii) to the Administrative Agent for the account of each Term Lender the then unpaid
principal amount of each Term Loan of such Lender made to such Borrower as provided in Section 2.10 and (iii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan made to such Borrower on the earlier of
the Revolving Maturity Date and the day that is ten (10) Business Days after such Swingline Loan is made; provided that on each date that a Revolving Borrowing is made, the Borrowers shall repay all Swingline Loans then outstanding. 

(b) Lender Records. Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing
the indebtedness of each Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender by such Borrower from time to time hereunder. 

(c) Administrative Agent Records. The Administrative Agent shall maintain accounts in which it shall record (i) the
amount of each Loan made hereunder, the currency, Class and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from each Borrower to each Lender
hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders by each Borrower and each Lender’s share thereof. 

(d) Prima Facie Evidence. The entries made in the accounts maintained pursuant to paragraph (b) or
(c) of this Section 2.09 shall be prima facie evidence of the existence and amounts of the obligations recorded therein absent manifest error; provided that the failure of

  
 CREDIT AGREEMENT, Page 70 

 
any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Loans in accordance with the
terms of this Agreement; provided, further, that in the event of any inconsistency between such accounts of the Administrative Agent and any Lender’s records, the Administrative Agent’s accounts shall govern. 

(e) Request for a Note. Any Lender may request that Loans of any Class made by it be evidenced by a promissory note;
provided that any such promissory notes to be issued on the Effective Date shall be requested by the relevant Lender at least five (5) Business Days prior to the Effective Date. In such event, the applicable Borrower shall prepare,
execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced
by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 10.04) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if
such promissory note is a registered note, to such payee and its registered assigns); provided that in the event of any assignment of Loans evidenced by a promissory note, the applicable Borrower shall not be obligated to execute and deliver
a promissory note to the assignee of such Loans unless and until the assignor Lender has returned its promissory note to the relevant Borrower or the relevant Borrower has received a lost note affidavit and indemnity from the assigning Lender in
form and substance reasonably acceptable to the relevant Borrower. 
 Section 2.10 Amortization of Term Loans. 

(a) Term A Loans. Each Borrower shall repay the Term A Loans made to it in the applicable currency of such Term A Loans
in quarterly principal installments as follows: 
 (i) for the first eight (8) quarterly installments, in the amount of 1.25% of the
aggregate principal amount of the relevant Term A Loans outstanding on the Fourth Amendment Date, each, due and payable on the last day of each March, June, September and December of each applicable year, with the first such quarterly installment to
commence and be due on March 31, 2017; 
 (ii) for the following ninth
(9th) through sixteenth (16th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the relevant Term
A Loans outstanding on the Fourth Amendment Date, each, due and payable on the last day of each March, June, September and December of each applicable year; 

(iii) for each quarterly installment after such 16th installment referred to in clause
(ii) above, in the amount of 3.75% of the aggregate principal amount of the relevant Term A Loans outstanding on the Fourth Amendment Date, each, due and payable on the last day of each March, June, September and December of each applicable
year; and 
 (iv) one final installment in the amount of the relevant Term A Loans then outstanding, due and payable on the Term A Loan
Maturity Date; 
 (b) Term B Loans. Each Borrower shall repay the Term B Loans made by it in the applicable currency
of such Term B Loans in quarterly principal installments as follows: 

  
 CREDIT AGREEMENT, Page 71 

 (i) in the amount of 0.25% of the aggregate principal amount of the relevant Term
B Loans made on the Vion Acquisition ClosingFifth
Amendment Date, each, due and payable on the last day of each March, June, September and December, of each year commencing on the last day of such month falling on or after the last day of the
first full fiscal quarter of the Parent Borrower following the Vion Acquisition
ClosingFifth Amendment Date and continuing until the last day of
such quarterly period ending immediately prior to the Term B Loan Maturity Date; and 
 (ii) one final installment in
the amount of the relevant Term B Loans then outstanding, due and payable on the Term B Loan Maturity Date; 
 Prior to any repayment of any Term
Borrowings, the Parent Borrower shall select the Class and Borrowing or Borrowings to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 12:00 p.m., Local Time, three
(3) Business Days before the scheduled date of such repayment; provided that to the extent the Parent Borrower does not specify in such notice the Borrowing or Borrowings to be repaid the Administrative Agent shall first apply such
amounts to ABR Loans and/or, in the case of Alternative Currencies, CDOR Rate Loans or Eurodollar Rate Loans, as applicable, and thereafter use commercially reasonable efforts to minimize the cost to the Parent Borrower of such repayment under
Section 2.16. Each repayment of a Class and Borrowing shall be applied ratably to the Loans included in the repaid Class and Borrowing. Repayments of Term Borrowings shall be accompanied by accrued interest on the amount repaid. 

Section 2.11 Prepayment of Loans. 

(a) Optional Prepayment. The applicable Borrower shall have the right at any time and from time to time to prepay any
Borrowing of any Class in whole or in part without prepayment penalty or premium, subject to the requirements of this Section 2.11 and Section 2.16; provided that in the event that, prior to the date that is six months
following the Vion Acquisition ClosingFifth
Amendment Date, the Parent Borrower (x) prepays, refinances, substitutes or replaces any Term B Loans in connection with a Repricing Transaction (including, for avoidance of doubt, any
prepayment made pursuant to Section 2.22 that constitutes a Repricing Transaction), or (y) effects any amendment of this Agreement resulting in a Repricing Transaction, the Borrower shall pay to the Administrative Agent, for the
ratable account of each of the applicable Lenders (1) in the case of clause (x), a prepayment premium of 1.00% of the aggregate principal amount of the Term B Loans so prepaid, refinanced, substituted or replaced and (2) in the case
of clause (y), a fee equal to 1.00% of the aggregate principal amount of the applicable Term B Loans outstanding immediately prior to such amendment. 

(b) Mandatory Prepayment of Revolving Loans. In the event and on such occasion that (i) such Lender’s
Revolving Exposure exceeds such Lender’s Revolving Commitment, (ii) the aggregate USD/Multicurrency Revolving Exposure of all Lenders exceeds the aggregate USD/Multicurrency Revolving Commitment of all Lenders or (iii) the aggregate MulticurrencyUSD Only Revolving Exposure of all Lenders exceeds the Multicurrencyaggregate USD Only Revolving
SublimitCommitment of all Lenders, in each case calculated based on the Dollar Equivalent amount as of the applicable date of determination, the applicable Borrower shall prepay Revolving Borrowings or Swingline Borrowings in an aggregate amount
to eliminate such excess. 
 Upon the incurrence by Parent Borrower or any Restricted Subsidiary of any Specified Refinancing Debt
constituting revolving credit facilities, the Borrowers shall prepay an aggregate principal amount of Revolving Loans in an amount equal to 100% of all Net Cash Proceeds received therefrom immediately upon receipt thereof by Parent Borrower or such
Restricted Subsidiary. 

  
 CREDIT AGREEMENT, Page 72 

 (c) Mandatory Prepayments from Net Proceeds of Prepayment Event. In the
event and on each occasion that any Net Proceeds are received by or on behalf of the Parent Borrower or any Restricted Subsidiary in respect of any Prepayment Event, the Parent Borrower shall, within three (3) Business Days after such Net
Proceeds are received, prepay or cause to be prepaid Term Borrowings (on a ratable basis among any outstanding USD Term A Loans, CAD Term A Loans, Term B USD
Loans and Term B EUR Loans based on the outstanding
principal amounts thereof) in an aggregate amount equal to 100% of such Net Proceeds; provided that: 
 (i)
subject to the terms of clause (ii) below, in the case of any event described in clauses (a) or (b) of the definition of the term Prepayment Event, if the Parent Borrower and the Subsidiaries intend to apply the
Net Proceeds from such event, within 18 months after receipt of such Net Proceeds, to acquire or replace assets or repair, improve or maintain assets to be used in the business of, or otherwise useful in the operations of, the Parent Borrower and
the Restricted Subsidiaries, including, without limitation, to make an acquisition permitted by Section 6.04(l), to engage in an Asset Swap permitted by Section 6.04(k) or to make an Investment permitted by
Section 6.04(q), (s) or (u), then no prepayment shall be required pursuant to this clause (c) in respect of such event except to the extent of any Net Proceeds therefrom that have not been so applied within
18 months (or in the case of a commitment in respect of an application within such 18 months, 24 months) after receipt of such Net Proceeds, at which time a prepayment shall be required in an amount equal to the Net Proceeds that have not been so
applied; 
 (ii) Net Proceeds from a Prepayment Event shall only be required to be used to prepay Term Borrowings under this
clause (c) to the extent such Net Proceeds received from any single Prepayment Event exceed $20,000,000, and such excess Net Proceeds, when added to the aggregate amount of excess Net Proceeds received from all Prepayment Events
occurring in the same fiscal year which are not reinvested pursuant to this clause (c) exceed $40,000,000 (in which event the aggregate amount of such excess Net Proceeds from all such Prepayment Events in excess of $40,000,000, shall
then be required to be used to prepay the Term Borrowings under this clause (c)); and 
 (iii) if the Secured Leverage
Ratio as calculated as of the last day of the most recent four (4) fiscal quarter period then ended for which financial statements have been delivered pursuant to Section 5.01(a) or (b) prior to the Prepayment Event is
less than 2.75 to 1.00, then the 100% threshold above shall be reduced to 50% for such Prepayment Event in the case of any event described in clauses (a) or (b) of the definition of the term Prepayment Event. 

(d) Excess Cash Flow Prepayment. Following the end of each Applicable Fiscal Year, the Parent Borrower shall prepay Term
B Loans (ratably in accordance with the outstanding amount of each Class thereof) in an aggregate amount equal to the sum of: (i) 50% of Excess Cash Flow for such Applicable Fiscal Year; minus (ii) the aggregate amount of voluntary
prepayments made on the Term B Loans during such Applicable Fiscal Year or on or prior to the date such Excess Cash Flow payment is due (other than prepayments funded with the proceeds of long-term Indebtedness (other than revolving Indebtedness)
and without duplication 

  
 CREDIT AGREEMENT, Page 73 

 
for any deduction of any such prepayment in respect of the prior fiscal year); minus (iii) the aggregate amount of voluntary prepayments made on the Revolving Loans during such
Applicable Fiscal Year or on or prior to the date such Excess Cash Flow payment is due (and without duplication for any deduction of any such prepayment in respect of the prior fiscal year) that were accompanied by a permanent reduction of the
Revolving Commitments; minus (iv) the amount of any reduction in the outstanding amount of any Term B Loans resulting from any purchase or assignment in cash made in accordance with Section 10.04(e) of this Agreement
(including in connection with any Dutch auction), provided the opportunity for such purchase or assignment is offered to all Lenders of the applicable Class of Term B Loans. Each prepayment pursuant to this clause (d) shall be
made within five (5) Business Days after the date on which financial statements are delivered pursuant to Section 5.01(a) with respect to the Applicable Fiscal Year for which Excess Cash Flow is being calculated; provided
that if the Secured Leverage Ratio as calculated as of the last day of the relevant Applicable Fiscal Year is (x) less than 3.50 to 1.00, then the 50% threshold above shall be reduced to 25% and (y) less than 3.00 to 1.00, no prepayment
will be required under this clause (d) for such fiscal year. As used in this clause, the term “Applicable Fiscal Year” means each fiscal year, beginning with the fiscal year ending on or about December 31, 20162018.
 
 (e) Notwithstanding any other provisions of Section 2.11(c), (i) to the extent that (and for so
long as) any of or all the Net Cash Proceeds of any Prepayment Event giving rise to a mandatory prepayment pursuant to Section 2.11(c) are prohibited or restricted by applicable local law from being repatriated to the jurisdiction of
organization of the Parent Borrower or would conflict with the fiduciary duties of any Subsidiary’s directors, officers, employees, managers (or any Persons with equivalent responsibilities) or could be expected to result in a risk of criminal
or personal liability for such Persons, an amount equal to the portion of such Net Cash Proceeds so affected will not be required to be applied to repay Term Loans at the times provided in Section 2.05(c) but may be retained by the
applicable Restricted Subsidiary so long as the applicable local law will not permit such repatriation to the Parent Borrower (the Parent Borrower hereby agreeing to cause the applicable Restricted Subsidiary to promptly take all commercially
reasonable actions available under applicable local law to permit such repatriation) or such conflict or risk exists, and once such repatriation of any such affected Net Cash Proceeds is permitted under the applicable local law, an amount equal to
such Net Cash Proceeds will be promptly applied (net of additional Taxes payable or reserved against as a result of such repatriation or potential repatriation) or such conflict or risk of liability exists to the repayment of the Term Loans pursuant
Section 2.11(c) and Section 2.11(d) and (B) to the extent that the Borrower has determined in good faith that repatriation of any of or all of the Net Cash Proceeds of any Prepayment Event to the jurisdiction of
organization of the Parent Borrower would have a material adverse Tax consequence with respect to such Net Cash Proceeds (taking into account any foreign tax credit or benefit that would be realized in connection with such repatriation), the Net
Cash Proceeds so affected may be retained by the applicable Restricted Subsidiary. 
 (f) Notice of Prepayment;
Application of Prepayments. The applicable Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed by telecopy or email) of any prepayment hereunder
(i) in the case of optional prepayment of a Eurodollar Borrowing or CDOR Rate Borrowing, not later than 11:30 a.m., Local Time (or such later time as the Administrative Agent may agree), three (3) Business Days before the date of
prepayment, (ii) in the case of optional prepayment of an ABR Borrowing, not later than 11:30 a.m., Local Time (or such later time as the 

  
 CREDIT AGREEMENT, Page 74 

 
Administrative Agent may agree), one Business Day before the date of prepayment or (iii) in the case of optional prepayment of a Swingline Loan, not later than 12:00 noon, Local Time, (or
such later time as the Administrative Agent may agree), on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case
of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment; provided that, a notice of prepayment delivered by the applicable Borrower may state that such notice is conditioned upon the effectiveness of
other transactions, in which case such notice of prepayment may be revoked by the applicable Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Promptly following receipt
of any such notice (other than a notice relating solely to Swingline Loans), the Administrative Agent shall advise the Lenders of the contents thereof. Each partial optional prepayment of any Borrowing shall be in an amount that would be permitted
in the case of an advance of a Borrowing of the same Type as provided in Section 2.02. Each prepayment of Loans pursuant to this Section shall be applied ratably to each Class of Loans required to be prepaid in connection with this
Section. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.13. Prepayments of Term Loans pursuant to Section 2.11(a), (c) or (d) shall be applied to the scheduled
installments as directed by the Parent Borrower (or, in the absence of direction from the Parent Borrower, to the remaining scheduled installments in respect of such Class of Term Loans in direct order of maturity). The amount of such prepayments
shall be applied on a pro rata basis to the Class of Loans being prepaid irrespective of whether such outstanding Loans are ABR Loans, Canadian Prime Rate Loans, CDOR Rate Loans or Eurodollar Loans; provided that such mandatory prepayment
shall be applied first to the then outstanding Loans that are ABR Loans or Canadian Prime Rate Loans, as applicable, and then to the then outstanding Loans that are CDOR Loans or Eurodollar Loans, as applicable, in a manner that minimizes the amount
of any payments required to be made pursuant to Section 2.16. 
 (g) Upon the incurrence or issuance by Parent
Borrower or any Restricted Subsidiary of any Refinancing Notes, any Specified Refinancing Term Loans or any Refinancing Junior Loans, the Borrowers shall prepay an aggregate principal amount of the Class of Term Loans and/or Revolving Loans being
refinanced in an amount equal to 100% of all Net Cash Proceeds received therefrom immediately upon receipt thereof by Parent Borrower or such Restricted Subsidiary in a manner consistent with clause (f) above. 

For the avoidance of doubt, and notwithstanding the other provisions of this Agreement, if, at any time any Borrower would be required to prepay the Term
Loans pursuant to clause (c) or (d) above, such Borrower is required to offer to prepay or repurchase any Incremental Equivalent Debt or Refinancing Notes, Specified Refinancing Term Loans or other Indebtedness that is pari
passu with the Term Loans in right of payment and with respect to security pursuant to the terms of the documentation governing such Indebtedness in connection with the circumstances described in clause (c) or (d), as applicable
(such Indebtedness, the “Other Applicable Indebtedness”), then such Borrower may apply the amounts required to be prepaid or used to repurchase on a pro rata basis (determined on the basis of the aggregate outstanding principal
amount of the Term Loans and the Other Applicable Indebtedness at such time; provided that the portion of such prepayment allocated to any Other Applicable Indebtedness shall not exceed the amount required to be allocated to such Other
Applicable Indebtedness pursuant to the terms thereof, and the remaining amount, if any, shall be allocated to the Term Loans in accordance with the terms hereof) to the prepayment of the Term Loans and the prepayment or repurchase of the Other
Applicable Indebtedness, and the amount of the prepayment of the Term Loans that would have otherwise been required pursuant to such clause (c) or (d) shall be reduced accordingly on a dollar-for-dollar basis; provided
that, to the extent the holders of the Other Applicable Indebtedness decline to have such Other Applicable Indebtedness prepaid or repurchased, the declined amount shall promptly be applied to prepay the Term Loans in accordance with the terms
hereof. 

  
 CREDIT AGREEMENT, Page 75 

 Section 2.12 Fees. 

(a) Commitment Fees. The Parent Borrower agrees to pay to the Administrative Agent for the account of each Revolving
Lender a commitment fee, which shall accrue at the Applicable Rate on the average daily unused amount of each Revolving Commitment of such Lender during the period from and including the Effective Date to but excluding the date on which such
Revolving Commitment terminates. Accrued commitment fees in respect of the Revolving Commitments shall be payable in arrears on the date which is three (3) Business Days following the last day of each March, June, September and December of each
year and on the date on which the Revolving Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number
of days elapsed (including the first day but excluding the last day). A Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline Exposure of such
Lender shall be disregarded for such purpose). 
 (b) Letter of Credit Fees. The Parent Borrower agrees to pay: 

(i) Participation Fee. To the Administrative Agent for the account of each Revolving Lender a participation fee with
respect to its participations in Letters of Credit, which shall accrue at the Applicable Rate for Eurodollar Borrowings (or CDOR Rate Borrowings in the case of Letters of Credit denominated in Canadian Dollars) on the average daily amount of such
Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Revolving Commitment
terminates and the date on which such Lender ceases to have any LC Exposure; 
 (ii) Standby Letter of Credit Fronting
Fees. To the Issuing Bank a fronting fee with respect to standby Letters of Credit, which shall accrue at the rate of 0.10% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed
LC Disbursements) attributable to standby Letters of Credit during the period from and including the Effective Date to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any LC
Exposure with respect to standby Letters of Credit; 
 (iii) Commercial Letters of Credit Fronting Fees. To the
Issuing Bank a fronting fee with respect to each commercial Letter of Credit, which fee shall equal the product of 1.00% of the initial stated amount of such commercial Letter of Credit multiplied by a fraction, the numerator of which is the number
of days included in the term of such commercial Letter of Credit and whose denominator is 360; and 
 (iv) Issuing Bank
Standard Fees. The Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. 

  
 CREDIT AGREEMENT, Page 76 

 Participation fees and standby Letter of Credit fronting fees accrued through and including the last day of
March, June, September and December of each year shall be payable on the third Business Day following such last day, commencing on the first such date to occur after the Effective Date; provided that: (A) all such fees shall be payable
on the date on which the Revolving Commitments terminate; (B) any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand; and (C) all fronting fees payable with respect to commercial
Letters of Credit shall be payable on the date of the issuance thereof. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and standby Letter of Credit fronting
fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

(c) Agent Fees. The Parent Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the
amounts and at the times separately agreed upon between the Parent Borrower and the Administrative Agent. 
 (d) Payment
of Fees. All fees payable hereunder shall be paid in dollars on the dates due, in immediately available funds, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment
fees and participation fees, to the Lenders entitled thereto. Fees paid shall not be refundable under any circumstances. 

(e) Ancillary Facility Fees. The amount and timing of payments of fees in respect of any Ancillary Facility will be
agreed by the relevant Ancillary Lender and the Borrower under such Ancillary Facility. 
 Section 2.13 Interest. 

(a) ABR Borrowings/Canadian Prime Rate Swingline. The Loans comprising each ABR Borrowing (including each applicable
Swingline Loan denominated in dollars) shall bear interest at the Alternate Base Rate plus the Applicable Rate for ABR Borrowings. Each Swingline Loan denominated in Canadian Dollars shall bear interest at the Canadian Prime Rate plus the Applicable
Rate for Canadian Prime Rate Borrowings. Each Swingline Loan denominated in Euro shall bear interest at the Euro Swingline Rate plus the Applicable Rate for Euro Swingline Rate Borrowings. 

(b) Eurodollar Borrowings/CDOR Rate Borrowings. The Loans comprising each Eurodollar Borrowing shall bear interest at
the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate for Eurodollar Borrowings. The Loans comprising each CDOR Rate Borrowing shall bear interest at the CDOR Loan Rate for the Interest Period in effect
for such CDOR Rate Borrowing plus the Applicable Rate. 
 (c) Default Interest. Notwithstanding the foregoing, if any
principal of or interest on any Loan or any fee payable by the applicable Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment,
at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section 2.13 or (ii) in the case of any
other amount, 2% plus the rate then applicable to ABR Revolving Loans (in the case of amounts owing in dollars), Canadian Prime Rate Borrowings (in the case of amounts owing in Canadian Dollars in respect

  
 CREDIT AGREEMENT, Page 77 

 
of Swingline Loans), CDOR Rate Loans with an Interest Period of one month’s duration determined on the date such amounts were due and then on each monthly anniversary thereof (in the case of
any other such amounts owing in Canadian Dollars) or Eurodollar Rate Loans with an Interest Period of one month’s duration determined on the date such amounts were due and then on each monthly anniversary thereof (in the case of any other such
amounts owing in an Alternative Currency other than Canadian Dollars), in each case, as provided in paragraph (a), or if applicable, paragraph (b), of this Section 2.13. 

(d) Payment of Interest. Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for
such Loan occurring after the Effective Date and, in the case of Revolving Loans, upon termination of the Revolving Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section 2.13
shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Revolving Availability Period), accrued interest on the principal amount repaid
or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurodollar Loan or CDOR Rate Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan
shall be payable on the effective date of such conversion. 
 (e) Computation. All interest hereunder shall be
computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate or the Canadian Prime Rate at times when the Alternate Base Rate or Canadian Prime Rate is based on the Prime Rate or other applicable
“prime rate”, and the CDOR Loan Rate and interest with respect to Borrowings denominated in Sterling, in each case, shall be computed on the basis of a year of 365 days (or, except with respect to Sterling, 366 days in a leap year), and in
each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate and CDOR Loan Rate shall be determined by the Administrative Agent, and
such determination shall be conclusive absent manifest error. 
 (f) Interest Act (Canada). For purposes of disclosure
pursuant to the Interest Act (Canada) (R.S.C. 1985, c.I15, as amended), the annual rates of interest or fees to which the rates of interest or fees provided in this Agreement and the other Loan Documents (and stated herein or therein, as applicable,
to be computed on the basis of 365 days (or 366 days in a leap year)) are equivalent are the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 days (or 366 days in a leap year),
respectively. 
 (g) The amount and timing of payments of interest in respect of any Ancillary Facility will be agreed by the
relevant Ancillary Lender and the applicable Borrower under such Ancillary Facility. 
 Section 2.14 Alternate Rate of Interest.
If prior to the commencement of any Interest Period for a Eurodollar Borrowing or CDOR Borrowing, as applicable: 
 (a) the
Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means (including, without limitation, by means of an Interpolated Rate) do not exist for ascertaining the Adjusted LIBO Rate
or CDOR Rate, as applicable, for such Interest Period; or 

  
 CREDIT AGREEMENT, Page 78 

 (b) the Administrative Agent is advised by the Required Lenders that the Adjusted
LIBO Rate or CDOR Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period; 

then the Administrative Agent shall give notice thereof to the Borrowers and the Lenders by telephone, telecopy or email as promptly as practicable thereafter
and, until the Administrative Agent notifies the Borrowers and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing denominated in dollars
to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and such Borrowing shall be converted to or continued as an ABR Borrowing, (ii) if any Borrowing Request requests a Eurodollar Borrowing in dollars, such
Borrowing shall be made as an ABR Borrowing, (iii) any Interest Election Request or Borrowing Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as or Borrowing of, a CDOR Rate Borrowing or in the case of
a Borrowing denominated in another Alternative Currency, a Eurodollar Borrowing, shall be ineffective and such Borrowing shall be maintained or made, as applicable, at a rate determined in a customary manner in good faith by the Administrative Agent
and the Borrowers. 
 Section 2.15 Increased Costs. 

(a) Change In Law. If any Change in Law shall: 

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

(ii) subject any Lender or the Issuing Bank to any Taxes (other than Indemnified Taxes or Other Taxes indemnifiable under
Section 2.17 and Excluded Taxes) on its Loans, loan principal, Letters of Credit, commitments or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto 

(iii) impose on any Lender or the Issuing Bank or the London interbank market any other condition (other than Taxes) affecting
this Agreement, Eurodollar Loans or CDOR Rate Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the
foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan or CDOR Rate Loan (or of maintaining its obligation to make any such Loan) or to increase the cost to such Lender or the Issuing Bank of
participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or the Issuing Bank hereunder (whether of principal, interest or otherwise), then the Borrowers (it being
understood the Foreign Borrowers shall only be liable hereunder for amounts to the extent related to the Foreign Obligations) will pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such
Lender or the Issuing Bank, as the case may be, for such additional costs incurred or reduction suffered. 

  
 CREDIT AGREEMENT, Page 79 

 (b) Capital Adequacy. If any Lender or the Issuing Bank determines that
any Change in Law regarding capital adequacy, insurance or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s or the
Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level below that which such
Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the Issuing Bank’s policies and the policies of such
Lender’s or the Issuing Bank’s holding company with respect to capital adequacy, insurance or liquidity), then from time to time the Borrowers (it being understood the Foreign Borrowers shall only be liable hereunder for amounts to the
extent related to the Foreign Obligations) will pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding
company for any such reduction suffered. 
 (c) Delivery of Certificate. A certificate of a Lender or the Issuing Bank
setting forth the amount or amounts necessary to compensate such Lender or the Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section 2.15 shall be delivered
to the Parent Borrower and shall be conclusive absent manifest error. The Borrowers shall pay such Lender or the Issuing Bank, as the case may be, the amount shown as due on any such certificate within 30 days after receipt thereof. 

(d) Limitation on Compensation. Failure or delay on the part of any Lender or the Issuing Bank to demand compensation
pursuant to this Section 2.15 shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such compensation; provided that the Borrowers shall not be required to compensate a Lender or the
Issuing Bank pursuant to this Section 2.15 for any increased costs or reductions incurred more than 180 days prior to the date that such Lender or the Issuing Bank, as the case may be, notifies the Parent Borrower of the Change in Law
giving rise to such increased costs or reductions and of such Lender’s or the Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. 

Section 2.16 Break Funding Payments. In the event of (a) the payment of any principal of any Eurodollar Loan or CDOR Rate
Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan or CDOR Rate Loan other than on the last day of the Interest Period applicable
thereto, (c) the failure to borrow, convert to or from, continue as or prepay any Eurodollar Revolving Loan, Eurodollar Term Loan or CDOR Rate Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice
may be revoked under Section 2.11(f) and is revoked in accordance therewith), or (d) the reallocation of any Eurodollar Loan or CDOR Rate Loan other than on the last day of the Interest Period applicable thereto as a result of a
request by the applicable Borrower pursuant to Section 2.19 or Section 2.20, then, in any such event, the applicable Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. Such loss,
cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at
the Adjusted LIBO Rate or CDOR Loan Rate, as applicable, that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow,
convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it
to bid, at the commencement of such period, for deposits of the 

  
 CREDIT AGREEMENT, Page 80 

 
applicable currency and of a comparable amount and period from other banks in the eurodollar market or the Canadian bankers’ acceptance market, respectively. A certificate of any Lender
setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the applicable Borrower and shall be conclusive absent manifest error. The applicable Borrower shall pay such Lender the
amount shown as due on any such certificate within 30 days after receipt thereof. 
 Section 2.17 Taxes. 

(a) Gross Up. Any and all payments by or on account of any obligation of a Loan Party hereunder or under any other Loan
Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that if the applicable Withholding Agent shall be required to deduct any Indemnified Taxes or Other Taxes from such payments,
then (i) the sum payable by the applicable Loan Party shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent, any
Lender or the Issuing Bank (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, and (ii) the applicable Withholding Agent shall make such deductions and pay the full amount deducted
to the relevant Governmental Authority in accordance with applicable law. 
 (b) Payment of Other Taxes. In addition,
each Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 
 (c)
Tax Indemnification. Each Borrower shall indemnify the Administrative Agent, each Lender and the Issuing Bank, within 30 days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the
Administrative Agent, such Lender or the Issuing Bank, as the case may be, on or with respect to any payment by or on account of any obligation of any Borrower hereunder or under any other Loan Document (including Indemnified Taxes or Other Taxes
imposed or asserted on or attributable to amounts payable under this Section 2.17) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Parent Borrower by a Lender or the Issuing Bank, or by the Administrative Agent on its own
behalf or on behalf of a Lender or the Issuing Bank, shall be conclusive absent manifest error. 
 (d) Receipts. As
soon as practicable after any payment of Indemnified Taxes or Other Taxes by any Borrower to a Governmental Authority, the Loan Party shall deliver to the Administrative Agent for its own account or for the account of the relevant Lender, 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 the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative
Agent. 
 (e) Administrative Agent Indemnity. Each Lender shall indemnify the Administrative Agent, within 30 days
after demand therefor, for (i) the full amount of any Taxes imposed by any Governmental Authority that are attributable to such Lender (but only to the extent that a Borrower has not already indemnified the Administrative Agent for such Taxes
and without limiting the obligation of the Borrowers to do so) and (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 10.04(c)(ii) relating to the

  
 CREDIT AGREEMENT, Page 81 

 
maintenance of a Participant Register, in either case, that are payable or paid by the Administrative Agent, together with all interest, penalties, reasonable costs and expenses arising therefrom
or with respect thereto, as determined by the Administrative Agent in good faith, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or
liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan
Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (e). 

(f) Forms. Each Lender other than a Foreign Lender shall deliver to the Parent Borrower and the Administrative Agent on
or before the date on which it becomes a party to this Agreement two properly completed and duly signed originals of U.S. Internal Revenue Service Form W-9 (or any successor form) certifying that such Lender is exempt from U.S. federal withholding
tax. Each Foreign Lender (including each Participant that acquired a participation from a Foreign Lender) shall deliver to the Parent Borrower and the Administrative Agent (or, in the case of a Participant, to the Lender from which the related
participation shall have been purchased) (i) two properly completed and duly signed originals of U.S. Internal Revenue Service (“IRS”) Form W-8BEN, Form W-8ECI or Form W-8IMY (together with any applicable underlying IRS forms),
or any subsequent versions thereof or successors thereto, (ii) in the case of a Foreign Lender claiming exemption from U.S. federal withholding tax under Section 871(h) or 881(c) of the Code with respect to payments of “portfolio
interest”, a statement substantially in the form of Exhibit G and the applicable IRS Form W-8, or any subsequent versions thereof or successors thereto, properly completed and duly executed by such Foreign Lender claiming complete
exemption from, or a reduced rate of, U.S. federal withholding tax on payments under this Agreement and the other Loan Documents, or (iii) any other form prescribed by applicable requirements of U.S. federal income tax law as a basis for
claiming exemption from or a reduction in U.S. federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable requirements of law to permit the Parent Borrower and the Administrative Agent to
determine the withholding or deduction required to be made. Such forms shall be delivered by each Lender on or before the date it becomes a party to this Agreement (or, in the case of any Participant, on or before the date such Participant purchases
the related participation) and from time to time thereafter upon the request of the Parent Borrower or the Administrative Agent. In addition, each Lender shall deliver such forms promptly upon the obsolescence or invalidity of any form previously
delivered by such Lender. Each Lender shall promptly notify the Parent Borrower and the Administrative Agent at any time it determines that it is no longer in a position to provide any previously delivered certificate to the Borrower (or any other
form of certification adopted by the U.S. taxing authorities for such purpose). Notwithstanding any other provision of this Section, a Lender shall not be required to deliver any form pursuant to this Section that such Foreign Lender is not legally
able to deliver. 
 If a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA
if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative
Agent at the time or times prescribed by law and at such time or times reasonably requested by the Parent Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by

  
 CREDIT AGREEMENT, Page 82 

 
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower or the
Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes
of this clause (ii), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

(g) Refund. If the Administrative Agent or a Lender or the Issuing Bank determines, in its sole discretion, that it has
received a refund of any Taxes or Other Taxes as to which it has been indemnified by the Loan Party or with respect to which the Loan Party has paid additional amounts pursuant to this Section 2.17, it shall pay over such refund to such
Loan Party (but only to the extent of indemnity payments made, or additional amounts paid, by such Loan Party under this Section 2.17 with respect to the Taxes or Other Taxes giving rise to such refund), net of all
out–of–pocket expenses of 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 such Loan Party, upon the
request of the Administrative Agent or such Lender, agrees to repay the amount paid over to such Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to 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 Section 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 which it deems confidential) to any Loan Party or any other Person. 
 (h) VAT.
(i) All amounts expressed to be payable under a Loan Document by any party to a Lender which (in whole or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that
supply, and accordingly, subject to clause (ii) below, if VAT is or becomes chargeable on any supply made by any Lender to any party under a Loan Document and such Lender is required to account to the relevant tax authority for the VAT,
that party must pay to such Lender (in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of the VAT (and such Lender must promptly provide an appropriate VAT invoice to that party).

 (ii) If VAT is or becomes chargeable on any supply made by any Lender (the “Supplier”) to any other Lender (the
“Recipient”) under a Loan Document, and any party other than the Recipient (the “Relevant Party”) is required by the terms of any Loan Document to pay an amount equal to the consideration for that supply to the
Supplier (rather than being required to reimburse or indemnify the Recipient in respect of that consideration): 
 (x) (where the Supplier
is the person required to account to the relevant tax authority for the VAT) the Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Recipient must (where
this paragraph (i) applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on
that supply; and 
 (i) (y) (where the Recipient is the person required to account to the relevant tax authority for the VAT) the Relevant
Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or repayment from
the relevant tax authority in respect of that VAT. 

  
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 (iii) Where a Loan Document requires any party to reimburse or indemnify a
Lender for any cost or expense, that party shall reimburse or indemnify (as the case may be) such Lender for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that it should reasonably be
determined that such Lender is entitled to credit or repayment in respect of such VAT from the relevant tax authority. 

(iv) Any reference in this Section 2.17(h) to any party shall, at any time when such party is treated as a member
of a group (including but not limited to any fiscal unities) for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the person who is treated as making the supply, or (as appropriate) receiving the
supply under the grouping rules. 
 (v) In relation to any supply made by a Lender to any party under a Loan Document, if
reasonably requested by such Lender, that party must promptly provide such Lender with details of that party’s VAT registration and such other information as is reasonably requested in connection with such Lender’s VAT reporting
requirements in relation to such supply. 
 (vi) Each party shall provide the applicable Dutch Borrower and/or German
Subsidiary Borrower with an appropriate VAT invoice in respect of any fees, costs or expenses payable by the applicable Dutch Borrower and/or German Subsidiary Borrower to such party pursuant to this Agreement in accordance with applicable
legislation (to the extent applicable to such party). 
 (i) Survival. The agreements in this Section shall survive
the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. 
 (j) Terms.
For purposes of this Section, the term “applicable law” includes FATCA. 
 (k) A payment shall not be increased
under paragraph (a) above by reason of a Tax Deduction on account of Tax if a German Borrower is required to deduct taxes under section 50a paragraph 7 of the German Income Tax Act (Einkommensteuergesetz) or a corresponding
successor provision for account of a Lender with respect to earnings of such Lender being subject to German limited income taxation. 

Section 2.18 Payments Generally; Pro Rata Treatment; Sharing of Set-Offs; Proceeds of Collateral. 

(a) Payments Generally. Unless otherwise specified herein, each Borrower shall make each payment required to be made by
it hereunder or under any other Loan Document (whether of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to the time expressly
required hereunder or under such other Loan Document for such payment (or, if no such time is expressly required, prior to 1:00 p.m., Local Time), on the date when due, in immediately available funds,. Subject to Section 2.17, all such payments shall be
made without set-off or counterclaim. Any 

  
 CREDIT AGREEMENT, Page 84 

 
amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating
interest thereon. All such payments shall be made to the Administrative Agent to the account designated to the applicable Borrower by the Administrative Agent, except payments to be made directly to the Issuing Bank or Swingline Lender as expressly
provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 10.03 shall be made directly to the Persons entitled thereto and payments pursuant to other Loan Documents shall be made to the Persons
specified therein. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. All payments under each Loan Document of
(i) principal and interest in respect of any Loan and LC Disbursements and participation fees in respect of Letters of Credit shall be made in the currency in which such Loan or Letter of Credit, respectively, is denominated and (ii) any
other amount shall be made in dollars. 
 (b) Pro Rata Application. If at any time insufficient funds are received by
and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due
hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably
among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties. 

(c) Sharing of Set-offs. If any Lender shall, by exercising any right of set-off
or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Revolving Loans, Term Loans or participations in LC Disbursements or Swingline Loans resulting in such Lender receiving payment of a greater
proportion of the aggregate amount of its Revolving Loans, Term Loans and participations in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater
proportion shall purchase (for cash at face value) participations in the Revolving Loans, Term Loans and participations in LC Disbursements and Swingline Loans of other Lenders to the extent necessary so that the benefit of all such payments shall
be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans, Term Loans and participations in LC Disbursements and Swingline Loans; provided that
(i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and
(ii) the provisions of this paragraph (c) shall not be construed to apply to any payment made by the Borrowers pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as
consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any assignee or participant. Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law but subject to Section 10.08, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against each Borrower rights of set-off and counterclaim with respect to such participation as
fully as if such Lender were a direct creditor of such Borrower in the amount of such participation. 

  
 CREDIT AGREEMENT, Page 85 

 (d) Payments from Borrowers Assumed Made. 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 or the Issuing Bank hereunder that the applicable Borrower will not make such payment,
the 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 or the Issuing Bank, as the case may be, the amount due.
In such event, if the applicable Borrower has not in fact made such payment, then each of the Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to
such Lender or Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of (i) the Federal Funds Effective
Rate (or in the case of amounts not denominated in dollars, the Administrative Agent’s cost of funds) and (ii) a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

(e) Set-Off Against Amounts Owed Lenders. If any Lender shall fail to make any payment required to be made by it
pursuant to Sections 2.04(c), 2.05(d) or (e), 2.06(b), 2.18(c) or (d) or 10.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any
amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 

(f) (f) Application of Proceeds of Collateral and Guaranty. Subject to the terms of any intercreditor agreement entered
into by the Administrative Agent in accordance with Section 9.10(e), all amounts received under the Guaranty Agreement and all proceeds received by the Administrative Agent from the sale or other liquidation of the Collateral when an
Event of Default exists shall first be applied as payment of the accrued and unpaid fees of the Administrative Agent hereunder and then to all other unpaid or unreimbursed Obligations (including reasonable attorneys’ fees and expenses in
accordance with Section 10.03) owing to the Administrative Agent in its capacity as Administrative Agent only, and then any remaining amount of such proceeds shall be distributed: 

(i) first, to an account at the Administrative Agent over which the Administrative Agent shall have control in an amount
equal to 102% of the LC Exposure then outstanding; 
 (ii) second, to the Secured Parties, pro rata in accordance with
the respective unpaid amounts of Loan Obligations, Pari Passu Notes Obligations and Swap Obligations, until all the Loan Obligations, Pari Passu Notes Obligations and Swap Obligations have been paid and satisfied in full or cash collateralized; 

(iii) third, to the Secured Parties, pro rata in accordance with the respective unpaid amounts of the Deposit
Obligations, until all Deposit Obligations have been paid and satisfied in full or cash collateralized; 
 (iv)
fourth, to the Secured Parties, pro rata in accordance with the respective unpaid amounts of the remaining Obligations and Pari Passu Notes Obligations; and 

(v) fifth, to the Person entitled thereto as directed by the Parent Borrower or as otherwise determined by applicable
law or applicable court order. 

  
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 For the avoidance of doubt, on and after the Foreign Collateral Reallocation, the guarantees provided by the
Foreign Subsidiary Loan Parties and the Collateral granted by the Foreign Subsidiary Loan Parties will only guarantee or secure, as applicable, the Foreign Obligations and the proceeds of such guarantee or Collateral shall be applied as set forth
above, but only to the extent the amounts above constitute Foreign Obligations. 
 (g) Noncash Proceeds.
Notwithstanding anything contained herein to the contrary, if the Administrative Agent shall ever acquire any Collateral through foreclosure or by a conveyance in lieu of foreclosure or by retaining any of the Collateral in satisfaction of all or
part of the Obligations or if any proceeds of Collateral received by the Administrative Agent to be distributed and shared pursuant to this Section 2.18 are in a form other than immediately available funds, the Administrative Agent shall
not be required to remit any share thereof under the terms hereof and the Secured Parties shall only be entitled to their undivided interests in the Collateral or noncash proceeds as determined by paragraph (f) of this
Section 2.18. The Secured Parties shall receive the applicable portions (in accordance with the foregoing paragraph (f)) of any immediately available funds consisting of proceeds from such Collateral or proceeds of such noncash
proceeds so acquired only if and when received by the Administrative Agent in connection with the subsequent disposition thereof. While any Collateral or other property to be shared pursuant to this Section is held by the Administrative Agent
pursuant to this paragraph (g), the Administrative Agent shall hold such Collateral or other property for the benefit of the Secured Parties and all matters relating to the management, operation, further disposition or any other aspect of
such Collateral or other property shall be resolved by the agreement of the Required Lenders. 
 (h) Return of
Proceeds. If at any time payment, in whole or in part, of any amount distributed by the Administrative Agent hereunder is rescinded or must otherwise be restored or returned by the Administrative Agent as a preference, fraudulent conveyance, or
otherwise under any bankruptcy, insolvency, or similar law, then each Person receiving any portion of such amount agrees, upon demand, to return the portion of such amount it has received to the Administrative Agent. 

Section 2.19 Mitigation Obligations; Replacement of Lenders. 

(a) Mitigation. If any Lender requests compensation under Section 2.15, or if a Borrower is required to pay
any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its
Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to
Section 2.15 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Each Borrower hereby agrees to pay
all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b)
Replacement. If (i) a Lender requests compensation under Section 2.15, (ii) a Borrower is required to pay any additional amount to a Lender or any Governmental Authority for the account of a Lender pursuant to
Section 2.17, (iii) a Lender is a Defaulting Lender, or (iv) a Lender shall become a Non-consenting Lender (as defined below), then the Parent Borrower may, upon notice to such Lender and the Administrative Agent,
(i) terminate the applicable 

  
 CREDIT AGREEMENT, Page 87 

 
Commitments of such Lender and repay the outstanding principal of its Loans of the relevant Class or Classes, accrued interest thereon, accrued fees and all other amounts payable to it hereunder
as of such termination date or (ii) at its sole expense and effort, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 10.04), all its interests,
rights and obligations in one or more Classes (as the Parent Borrower shall elect) under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided
that (i) the Parent Borrower shall have received the prior written consent of the Administrative Agent to such assignee Lender to the extent required by Section 10.04, which consent shall not unreasonably be withheld, (ii) such
assignor Lender shall have received payment of an amount equal to the outstanding principal of its Loans of the relevant Class or Classes (and participations in LC Disbursements and Swingline Loans, to the extent applicable), accrued interest
thereon, accrued fees and all other amounts (including, for the avoidance of doubt, any prepayment premium that would have been payable by the Borrower to such Non-consenting Lender under Section 2.11(a) if such assigning Lender had
consented to any Repricing Transaction, in any case, occurring prior to the six-month anniversary of the Vion Acquisition Closing Date and giving rise to its status as a Non-consenting Lender (assuming that such Repricing Transaction has occurred on
the date of the effectiveness of such assignment and assumption) payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrowers (in the case of all other amounts) and
(iii) in the case of any such assignment resulting from a claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such
compensation or payments. A Lender shall not be required to make any such assignment and delegation (and such termination and repayment shall not occur) if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Borrowers to require such assignment, delegation or termination and repayment cease to apply (in the case of a termination and repayment, prior to the date fixed in the applicable notice to such lender for such termination and
repayment). In the event that (i) the Parent Borrower or the Administrative Agent have requested the Lenders to consent to a departure or waiver of any provisions of the Loan Documents or to agree to any other modification thereto,
(ii) the consent, waiver or other modification in question requires the agreement of all Lenders, all directly and adversely affected Lenders or any other Class or group of Lenders other than Required Lenders (or other applicable majority) in
accordance with the terms of Section 10.02 and (iii) the Required Lenders (or, in the case of any Class voting, the holders of a majority of the outstanding Loans and unused Commitments in respect of such Class) have agreed to such
consent, waiver or other modification, then any Lender who does not agree to such consent, waiver or other modification shall be deemed a “Non-consenting Lender”. 

Section 2.20 Incremental Facilities. 

(a) The Parent Borrower may, by written notice to the Administrative Agent at any time, on one or more occasions, request to
(i) add one or more new tranches of term facilities and/or increase the principal amount of the Term Loans, any Incremental Term Loans or any Specified Refinancing Term Loans by requesting new term loans commitments to be added to such Loans
(any such new tranche or increase, an “Incremental Term Facility” and any loans made pursuant to an Incremental Term Facility, “Incremental Term Loans”) and/or (ii) add one or more new tranches of incremental
revolving facilities and/or increase the principal amount of any such tranche of incremental revolving facilities (each, an “Incremental Revolving Facility” and, together with any Incremental Term Facility, “Incremental
Facilities”; and the loans 

  
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thereunder, “Incremental Revolving Loans” and, together with any Incremental Term Loans, “Incremental Loans”) in an aggregate amount not to exceed the
Incremental Amount. Such notice shall set forth (i) the amount of the Incremental Term Loans and/or Incremental Revolving Commitments being requested (which shall be (x) with respect to Incremental Term Loans denominated in dollars, in
minimum increments of $15,000,000, and with respect to Incremental Term Loans denominated in an Alternative Currency, in minimum increments of the Dollar Equivalent of $7,500,000, (y) with respect to Incremental Revolving Commitments
denominated in dollars, in minimum increments of $10,000,000, and with respect to Incremental Revolving Commitments denominated in an Alternative Currency, in minimum increments of the Dollar Equivalent of $5,000,000 or (z) equal to the
remaining Incremental Amount) and (ii) the date, which shall be a Business Day, on which such Incremental Term Loans are requested to be made and/or Incremental Revolving Commitments are requested to become effective (the “Increased
Amount Date”) pursuant to an Incremental Facility Activation Notice. 
 (b) Incremental Loans may be provided by any
existing Lender (it being understood each existing Lender shall have no obligation to participate in any Incremental Facility), or by any other lender (any such other lender being called an “Additional Lender”); provided that
the Administrative Agent and Issuing Bank shall have consented (such consent not to be unreasonably withheld) to such Additional Lender’s providing such Incremental Facilities if such consent would be required under Section 10.04(b)
for an assignment of Loans to such Additional Lender. 
 (c) The creation or provision of any Incremental Facility or
Incremental Loan shall not require the approval of any existing Lender other than any existing Lender providing all or part of any Incremental Facility or Incremental Loan. 

(d) The applicable Borrower and each Lender or Additional Lender providing a portion of the Incremental Facilities shall
execute and deliver to the Administrative Agent an Incremental Assumption Agreement and such other documentation as the Administrative Agent shall reasonably specify to evidence the Incremental Facilities of such Lender and/or Additional Lender.
Each Incremental Assumption Agreement shall specify the terms of the Incremental Term Loans and/or Incremental Revolving Commitments to be made thereunder; provided that, (i) subject to exceptions for customary bridge financings (to the
extent convertible on customary terms into a permanent instrument otherwise meeting the conditions in this clause (i)), the final maturity date of any Incremental Term Loan (x) that is a “term loan A” shall be no earlier than
the Latest Maturity Date with respect to Term A Loans and (y) that is a “term loan B” shall be no earlier than the Latest Maturity Date with respect to Term B Loans, (ii) subject to exceptions for customary bridge financings (to
the extent convertible on customary terms into a permanent instrument otherwise meeting the conditions in this clause (ii)), the weighted average life to maturity of any Incremental Term Loan (x) that is a “term loan A” shall
be no shorter than the remaining weighted average life to maturity of the then-existing Term A Loans (it being agreed, for the avoidance of doubt, that when calculating the weighted average life to maturity of any Indebtedness being amended,
restated, amended and restated, supplemented, extended, renewed, replaced, refinanced or otherwise modified, the effects of any amortization or prepayments made on such Indebtedness vis-ά-vis the amortization schedule prior to the date of the
applicable amended, restatement, amendment and restatement, supplement, extension, renewal, replacement, refinancing or other modification shall be disregarded), and (y) that is a “term loan B” shall be no shorter than the remaining
weighted average life to maturity of the then-existing Term B Loans, in each case calculated as of the date of making such Incremental Term Loan (it 

  
 CREDIT AGREEMENT, Page 89 

 
being agreed, for the avoidance of doubt, that when calculating the weighted average life to maturity of any Indebtedness being amended, restated, amended and restated, supplemented, extended,
renewed, replaced, refinanced or otherwise modified, the effects of any amortization or prepayments made on such Indebtedness vis-ά-vis the amortization schedule prior to the date of the applicable amended, restatement, amendment and
restatement, supplement, extension, renewal, replacement, refinancing or other modification shall be disregarded), (iii) such Incremental Facilities may be pari passu or subordinated in right of payment with respect to the Loans outstanding (or
made on) the Vion Acquisition ClosingFifth
Amendment Date and/or pari passu or subordinated in right of security with respect to such Loans (and to the extent so subordinated, the holders of such indebtedness or a representative thereof
will enter into a customary intercreditor agreement with the Loan Parties and the Administrative Agent evidencing such subordination) or may be unsecured, (iv) any prepayment (other than scheduled amortization payments and voluntary
prepayments) of Incremental Term Loans that are pari passu in right of payment and security with any then-existing Term Loans that require ratable prepayment shall be made on a pro rata basis with such then existing Term Loans (and all other
then-existing Incremental Term Loans and Specified Refinancing Term Loans requiring ratable prepayment), subject to the right of the Borrowers to direct the application of voluntary prepayments and except that the Borrower and the lenders in respect
of such Incremental Term Loans shall be permitted, in their sole discretion, to elect to prepay or receive, as applicable, any prepayments on a less than pro rata basis (but not on a greater than pro rata basis), (v) subject to exceptions for
customary bridge financings (to the extent convertible on customary terms into a permanent instrument otherwise meeting the conditions in this clause (v)), the maturity date or commitment reduction date of any Incremental Revolving Loan shall
be no earlier than the Latest Maturity Date with respect to Revolving Commitments, (vi) if the Effective Yield in respect of any Incremental Term Loans that are “term B loans” that rank pari passu in right of payment and with respect
to security with any Term B Loans outstanding on the
FourthFifth Amendment Date exceeds the Effective Yield for such Term B Loans by more than 0.50%, then the Applicable Rate for such relevant Term B Loans shall be increased to the extent necessary so that the Effective Yield
for such Term B Loans is equal to the Effective Yield for such Incremental Term Loans that are “term B loans” minus 0.50% and (vii) to the extent an Incremental Revolving Facility is structured as an additional revolving facility
under this agreement and not as an increase to the existing Revolving Commitment hereunder, (x) no more than three revolving facilities (including any revolving facility constituting Specified Refinancing Debt), shall be outstanding hereunder
at any one time and (y) the Administrative Agent may, in its reasonable discretion, take such actions as it deems advisable to allocate Letters of Credit and any participations therein between any revolving facilities. All terms with respect to
any Incremental Facility which are materially more restrictive (taken as a whole) than those with respect to the Loans under the existing applicable Class of Credit Facility shall be (x) permitted by clauses (i) through
(vii) of the preceding sentence, (y) applicable only after the Latest Maturity Date of the relevant Credit Facility outstanding on the FourthFifth Amendment Date (which may be achieved by an amendment solely among the Parent
Borrower and the Administrative Agent (and the Required Lenders hereby authorize the Administrative Agent to enter into such amendment)), or (z) otherwise be reasonably satisfactory to the Administrative Agent; provided that
documentation governing any Incremental Facility may include such materially more restrictive terms so long as the Administrative Agent shall have been given prompt written notice thereof and this Agreement is amended to include such term for the
benefit of each Credit Facility of the same Class (which may be achieved by an amendment solely among the Parent Borrower and the Administrative Agent (and the Required Lenders hereby authorize the Administrative Agent to enter into such
amendment)); provided that if any 

  
 CREDIT AGREEMENT, Page 90 

 covenant is added for the benefit of the Term B Loans pursuant to the immediately preceding
proviso, such covenant shall be added to each Class to the extent such Class does not already have such covenant at least as restrictive. The Administrative Agent shall have been given prompt written notice thereof and this Agreement is amended to
include such covenant for the benefit of each Credit Facility of the same Class. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Incremental Assumption Agreement. Each of the parties hereto hereby agrees
that, upon the effectiveness of any Incremental Assumption Agreement, this Agreement shall be amended as necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrowers to effect the provisions of or be consistent
with this Section 2.20. Any such deemed amendment may be memorialized in writing by the Administrative Agent with the Borrowers’ consent (not to be unreasonably withheld) but without the consent of any other Lenders, and furnished
to the other parties hereto. 
 (e) Notwithstanding the foregoing, no Incremental Term Loan may be made and no Incremental
Revolving Commitment shall become effective under this Section 2.20 unless (i) on the date on which such Loan is made or of such effectiveness, (A) the conditions set forth in Section 4.04 shall be satisfied (it
being understood that all references to “the occasion of any Borrowing” in Section 4.04 shall be deemed to refer to the Increased Amount Date) and (B) the Parent Borrower is in compliance with the Financial Covenants on a
Pro Forma Basis and the Administrative Agent shall have received a certificate to that effect dated such date and executed by a Financial Officer of the Parent Borrower, (ii) the Administrative Agent shall have received legal opinions, board
resolutions and other closing certificates and documentation as required by the relevant Incremental Assumption Agreement and consistent with those delivered on the Effective Date under Section 4.01; provided that if the proceeds
of an Incremental Facility are to be used to finance a Limited Condition Acquisition, any such conditions will be subject to Section 1.10(c) hereof. 

Section 2.21 Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a
Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender: 
 (a)
Suspension of Commitment Fees. Commitment fees shall cease to accrue on the unfunded portion of the Revolving Commitment of such Defaulting Lender pursuant to Section 2.12(a); 

(b) Suspension of Voting. The Revolving Commitment, Revolving Exposure of, and the outstanding Term Loans held by, such
Defaulting Lender shall not be included in determining whether Lenders have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to Section 10.02); provided that any waiver, amendment
or modification requiring the consent of all Lenders or each affected Lender which affects such Defaulting Lender differently than other affected Lenders shall require the consent of such Defaulting Lender; 

  
 CREDIT AGREEMENT, Page 91 

 (c) Participation Exposure. If any Swingline Exposure or LC Exposure
exists at the time a Lender becomes a Defaulting Lender then: 
 (i) Reallocation. All or any part of such Swingline
Exposure and LC Exposure shall be reallocated among the non-Defaulting Lenders in accordance with their respective Applicable Percentages (or in the case of Swingline Exposure and LC Exposure denominated in an Alternative Currency, their
USD/Multicurrency Applicable Percentage) but only to the extent (w) the sum of all non-Defaulting Lenders’ Revolving Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the total of all
non-Defaulting Lenders’ Revolving Commitments, (x) the sum of all non-Defaulting Lenders’ USD Only Revolving Exposures plus the allocable portion of such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the
total of all non-Defaulting Lenders’ USD Only Revolving Commitments, (y) the sum of all non-Defaulting Lenders’ USD/Multicurrency Revolving Exposures plus the allocable portion of such Defaulting Lender’s Swingline Exposure and
LC Exposure does not exceed the total of all non-Defaulting Lenders’ USD/Multicurrency Revolving Commitments and (z) no Event of Default then exists; 

(ii) Payment and Cash Collateralization. If the reallocation described in clause (i) above cannot, or can
only partially, be effected, the applicable Borrower shall within two (2) Business Days following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, cash collateralize such Defaulting
Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.05(j) for so long as such LC Exposure is outstanding or cannot
be reallocated pursuant to clause (i) (it being understood that such amount (to the extent not applied as aforesaid) shall be returned in accordance with the procedures set forth in Section 2.05(j)); 

(iii) Suspension of Letter of Credit Fee. If the applicable Borrower cash collateralizes any portion of such Defaulting
Lender’s LC Exposure pursuant to this Section 2.21(c), the Borrowers shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.12(b) with respect to such Defaulting Lender’s LC Exposure
during the period such Defaulting Lender’s LC Exposure is cash collateralized; 
 (iv) Reallocation of Fees. If
the LC Exposure of the non-Defaulting Lenders is reallocated pursuant to this Section 2.21(c), then the fees payable to the Lenders pursuant to Section 2.12(a) and Section 2.12(b) shall be adjusted in accordance
with such non-Defaulting Lenders’ Applicable Percentages (or in the case of fees arising from Revolving Exposure denominated in an Alternative Currency, such Lenders’ USD/Multicurrency Applicable Percentages); and 

(v) Issuing Bank Entitled to Fees. If any Defaulting Lender’s LC Exposure is neither cash collateralized nor
reallocated pursuant to Section 2.21(c), then, without prejudice to any rights or remedies of the Issuing Bank or any Lender hereunder, all letter of credit fees payable under Section 2.12(b) with respect to such Defaulting
Lender’s LC Exposure shall be payable to the Issuing Bank until such LC Exposure is cash collateralized and/or reallocated; 

(d) Suspension of Swingline Loans and Letters of Credit. So long as any Lender is a Defaulting Lender, the Swingline
Lender shall not be required to fund any Swingline Loan and the Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless (i) it is satisfied that the related exposure will be 100% covered by the Revolving
Commitments of the non-Defaulting Lenders, (ii) cash collateral will be provided by the applicable Borrower in accordance with Section 2.21(c), and/or (iii) participating interests in any such newly issued or increased Letter
of Credit or newly made Swingline Loan shall be allocated among non-Defaulting Lenders in a manner consistent with Section 2.21(c)(i) (and Defaulting Lenders shall not participate therein); and 

 

  
 CREDIT AGREEMENT, Page 92 

 (e) Setoff Against Defaulting Lender. Any amount payable to such
Defaulting Lender hereunder (whether on account of principal, interest, fees or otherwise and including any mandatory or voluntary prepayment and any amount that would otherwise be payable to such Defaulting Lender pursuant to
Section 2.18(c) but excluding Section 2.19(b)) shall, in lieu of being distributed to such Defaulting Lender, be retained by the Administrative Agent in a segregated account and, subject to any applicable requirements of law,
be applied at such time or times as may be determined by the Administrative Agent (i) first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder, (ii) second, pro rata, to the payment of any
amounts owing by such Defaulting Lender to the Issuing Bank or Swingline Lender hereunder, (iii) third, to the funding of any Loan or the funding or cash collateralization of any participating interest in any Swingline Loan or Letter of Credit
in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent, (iv) fourth, if so determined by the Parent Borrower, held in such account as cash
collateral for future funding obligations of the Defaulting Lender under this Agreement, (v) fifth, pro rata, to the payment of any amounts owing to the Borrowers or the Lenders as a result of any judgment of a court of competent jurisdiction
obtained by any Borrower or any Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement and (vi) sixth, after termination of the Commitments to such Defaulting Lender or
as otherwise directed by a court of competent jurisdiction; provided that if such payment is (x) a prepayment of the principal amount of any Loans or reimbursement obligations in respect of LC Disbursements for which a Defaulting Lender
has not funded its participation obligations and (y) made at a time when the conditions set forth in Section 4.04 are satisfied, such payment shall be applied solely to prepay the Loans of, and reimbursement obligations owed to, all
non-Defaulting Lenders pro rata prior to being applied to the prepayment of any Loans, or reimbursement obligations owed to, any Defaulting Lender, until such time as all Loans and LC Disbursements are held by the Lenders pro rata in accordance with
their respective interests under the relevant Credit Facility. 
 In the event that the Administrative Agent, the Borrowers, the Issuing
Bank and the Swingline Lender each agrees that a Defaulting Lender who is a Revolving Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall be
readjusted to reflect the inclusion of such Lender’s Revolving Commitment and on such date such Lender shall purchase at par such of the Revolving Loans of the other Lenders (other than Swingline Loans) as the Administrative Agent shall
determine may be necessary in order for such Lender to hold such Revolving Loans in accordance with its Applicable Percentage and/or USD/Multicurrency Applicable Percentage, as applicable. 

Notwithstanding the above, the Borrowers’ right to replace a Defaulting Lender pursuant to this Agreement shall be in addition to, and
not in lieu of, all other rights and remedies available to the Borrowers against such Defaulting Lender under this Agreement, at law, in equity or by statute. 

Section 2.22 Specified Refinancing Debt. 

(a) The Borrowers may from time to time, add one or more new term loan facilities and new revolving credit facilities to the
Credit Facilities (“Specified Refinancing Debt”) pursuant to procedures reasonably specified by the Administrative Agent and reasonably 

  
 CREDIT AGREEMENT, Page 93 

 
acceptable to the Parent Borrower, to refinance (i) all or any portion of any Class of Term Loans then outstanding under this Agreement and (ii) all or any portion of any Class of
Revolving Loans (and the unused Revolving Commitments with respect to such Class of Revolving Loans) then in effect under this Agreement, in each case pursuant to a Refinancing Amendment (it being agreed that in no event shall more than three
Classes of revolving commitments be outstanding at any time under this Agreement); provided that such Specified Refinancing Debt: (i) will rank pari passu in right of payment as the other Loans and Commitments outstanding on the FourthFifth Amendment Date; (ii) will not be guaranteed by any Person that is not a Subsidiary Loan Party (or which becomes a Subsidiary Loan Party simultaneously therewith) with respect in each case to the relevant
Credit Facility; (iii) will be (x) unsecured or (y) secured by the Collateral of the relevant Loan Parties (or Collateral of a subset of the relevant Loan Parties) on a pari passu or junior basis with the Obligations (in each case
pursuant to customary intercreditor arrangements reasonably satisfactory to the Administrative Agent); (iv) will have such pricing and optional prepayment terms as may be agreed by the Parent Borrower and the applicable Lenders thereof;
(v) (x) to the extent constituting revolving credit facilities, will not have a maturity date (or have mandatory commitment reductions or amortization) that is prior to the Revolving Maturity Date of the Revolving Commitment being
refinanced and (y) to the extent constituting term loan facilities, except in connection with customary bridge financings (to the extent convertible on customary terms into a permanent instrument otherwise meeting the conditions in this
clause (y)), will have a maturity date that is not prior to the date that is the scheduled maturity date of, and will have a weighted average life to maturity that is not shorter than the weighted average life to maturity of, the Loans being
refinanced (it being agreed, for the avoidance of doubt, that when calculating the weighted average life to maturity of such Indebtedness being refinanced, the effects of any amortization or prepayments made on such Indebtedness vis-ά-vis the
amortization schedule prior to the date of the applicable refinancing shall be disregarded); (vi) any Specified Refinancing Term Loans shall share ratably in any prepayments of Term Loans pursuant to Section 2.11 (or otherwise
provide for more favorable prepayment treatment for the then outstanding Classes of Term Loans other than Specified Refinancing Term Loans); (vii) each Revolving Borrowing (including any deemed Revolving Borrowings made pursuant to
Section 2.04 or 2.05) shall be allocated pro rata among the Classes of Revolving Commitments (it being agreed that notwithstanding the foregoing, the Administrative Agent may, in its reasonable discretion, take such actions as it
deems advisable to allocate Letters of Credit and participations therein between any revolving facilities); (viii) will have terms (other than pricing and optional prepayment and redemption terms) that are not materially more restrictive (taken
as a whole) than those with respect to the Loans and Commitments being refinanced or replaced (as reasonably determined by the Parent Borrower in good faith, which determination shall be conclusive), except terms (w) as permitted by clauses
(i) through (vii) above, (x) applicable only after the maturity date of the then outstanding Loans and Commitments at the time of such replacement, (y) consistent with then-current market terms for the applicable type
of Indebtedness (as reasonably determined by the Parent Borrower in good faith, which determination shall be conclusive), provided that no financial maintenance covenant applicable to the Parent Borrower may be added to the Specified
Refinancing Debt pursuant to this clause (y) without also being included in this Agreement (which may be achieved by an amendment solely among the Parent Borrower and the Administrative Agent (and the Required Lenders hereby authorize
the Administrative Agent to enter into such amendment)), and, for the avoidance of doubt, it being understood that if such financial covenant is a “springing” financial maintenance covenant applicable only to revolving Indebtedness, such
financial covenant shall be automatically included in this Agreement only for the benefit of each Revolving Facility and not for the benefit of any Credit Facility in respect of Term Loans 

  
 CREDIT AGREEMENT, Page 94 

 hereunder; (z) otherwise be reasonably satisfactory to the Administrative Agent;
provided further that documentation governing any Specified Refinancing Debt may include such materially more restrictive terms so long as the Administrative Agent shall have been given prompt written notice thereof and this Agreement
is amended to include such covenant for the benefit of the relevant Credit Facility and Loans being refinanced (which such amendment shall only require the consent of the Parent Borrower and Administrative Agent (and the Required Lenders hereby
authorize the Administrative Agent to enter into such amendment)); and (ix) the Net Cash Proceeds of such Specified Refinancing Debt shall be applied, substantially concurrently with the incurrence thereof, to the pro rata prepayment of
outstanding Loans being so refinanced, in each case pursuant to Section 2.08 and 2.11, as applicable; provided, however, that such Specified Refinancing Debt shall not have a principal or commitment amount (or
accreted value) greater than the Loans being refinanced (excluding accrued interest, fees, discounts, premiums or expenses). 

(b) The Parent Borrower shall make any request for Specified Refinancing Debt pursuant to a written notice to the
Administrative Agent specifying in reasonable detail the proposed terms thereof. Any proposed Specified Refinancing Debt may be provided by existing Lenders or, subject to the approval of the Administrative Agent and, with respect to revolving
commitments, the Issuing Bank (in each case, which approval shall not be unreasonably withheld, conditioned or delayed), Eligible Assignees in such respective amounts as the Parent Borrower may elect. 

(c) (The effectiveness of any Refinancing Amendment shall be subject to the satisfaction on the date thereof of each of the
conditions set forth in such Refinancing Amendment. The Lenders hereby authorize the Administrative Agent to enter into amendments to this Agreement and the other Loan Documents with the
relevant Borrower or Borrowers as may be necessary in order to establish any
Specified Refinancing Debt and to make such technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the
relevant Borrower in connection with the establishment of such Specified
Refinancing Debt, in each case on terms consistent with and/or to effect the provisions of this Section 2.22. 

(d) Each Class of Specified Refinancing Debt incurred under this Section 2.22 shall be in an aggregate principal
amount that is (i) (x) not less than $5,000,000 (or if applicable, $C5,000,000, €5,000,000 or the Dollar Equivalent of $5,000,000 if denominated in another Alternative Currency) and (y) an integral multiple of $1,000,000 (or if
applicable, $C1,000,000, €1,000,000 or the Dollar Equivalent of $1,000,000 if denominated in another Alternative Currency) in excess thereof or (ii) the amount required to refinance all of the applicable Class of Loans and/or Commitments.
Any Refinancing Amendment may provide for the making of Refinancing Revolving Loans to, or the issuance of Letters of Credit for the account of, the Borrowers or any Subsidiary, or the provision to the Borrowers of Swingline Loans, pursuant to any
revolving credit facility established thereby, in each case on terms substantially equivalent to the terms applicable to Letters of Credit and Swingline Loans under the Revolving Commitments. 

(e) The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Refinancing Amendment. Each of
the parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the

  
 CREDIT AGREEMENT, Page 95 

 
Specified Refinancing Debt incurred pursuant thereto (including the addition of such Specified Refinancing Debt as separate facilities hereunder and treated in a manner consistent with the Credit
Facilities being refinanced, including for purposes of prepayments and voting). Any Refinancing Amendment may, without the consent of any Person other than the Borrowers, the Administrative Agent and the Lenders providing such Specified Refinancing
Debt, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower to effect the provisions of or be consistent with this
Section 2.22. In addition, if so provided in the relevant Refinancing Amendment and with the consent of each Issuing Bank, participation in Letters of Credit expiring on or after the scheduled maturity date in respect of a Class of
revolving commitments shall be reallocated from Lenders holding such revolving commitments to Lenders holding refinancing revolving commitments in accordance with the terms of such Refinancing Amendment; provided, however, that such
participation interests shall, upon receipt thereof by the relevant Lenders holding refinancing revolving commitments, be deemed to be participation interests in respect of such extended revolving commitments and the terms of such participation
interests (including the commission applicable thereto) shall be adjusted accordingly. 
 Section 2.23 Ancillary Facilities.

 (a) If any Borrower and any Ancillary Lender agree, subject to compliance with the requirements set forth in this
Section 2.23, such Ancillary Lender shall be permitted to provide an Ancillary Facility on a bilateral basis to such Borrower. To the extent any Ancillary Facility exists, the following shall apply: 

(i) The applicable Revolving Commitment of the Ancillary Lender shall: 

(A) be deemed to be utilized by its applicable Ancillary Commitment for purposes of (1) calculating the commitment fee
payable to such Ancillary Lender pursuant to Section 2.12(a) and (2) calculating the aggregate remaining amount of Revolving Exposure of all applicable Revolving Lenders available under the Revolving Facility (it being understood
the commitment fee payable pursuant Section 2.12(a) to Lenders without an Ancillary Facility shall not be modified by the existence of any Ancillary Facility and for purposes of such calculation it shall be assumed that each such
Lender’s Revolving Commitments have not been reduced as a result of such Ancillary Facility) (such remaining amount, the “Remaining Revolving Exposure”) and 

(B) not be deemed to be utilized by the Ancillary Commitment of the applicable Ancillary Lender for purposes of determining
whether the Dollar Equivalent of such Ancillary Lender’s Revolving Exposure exceeds its applicable Revolving Commitment (and therefor whether such Ancillary Lender is required to make or participate in a Loan or Letter of Credit under this
Agreement). 
 (ii) Borrowings of the Remaining Revolving Exposure shall be made on a pro rata basis among the Revolving
Lenders of the applicable Class (including the applicable Ancillary Lenders) pursuant to and subject to the limitations set forth in Section 2.01. 

  
 CREDIT AGREEMENT, Page 96 

 (b) To request the creation of an Ancillary Facility, any Borrower shall deliver
to the Administrative Agent not later than five (5) Business Days (or such shorter period agreed to by the Administrative Agent) prior to the first date on which such Ancillary Facility is proposed to be made available: 

(i) a notice in writing specifying: 

(A) the Borrower or Borrowers to which extensions of credit will be made available thereunder; 

(B) the first Business Day on which such Ancillary Facility shall be made and the expiration date of such Ancillary Facility
(which shall be no later than the Revolving Maturity Date); 
 (C) the type of Ancillary Facility being provided; 

(D) the identity of the Ancillary Lender(s); and 

(E) the amount and currency of the Ancillary Commitment with respect to such Ancillary Facility (which shall be expressed in
any currency to which such Ancillary Lenders may agree) and shall not exceed such Ancillary Lender’s Revolving Commitment; 

(ii) a copy of the Ancillary Facility Documents with respect to such Ancillary Facility, together with a certificate of a
Responsible Officer of the applicable Borrower(s) certifying that the terms of such Ancillary Facility satisfy the requirements set forth in this Section 2.23 (including any applicable definitions used herein); and 

(iii) such other information that the Administrative Agent may reasonably request in connection with such Ancillary Facility.

 The Administrative Agent shall give notice to each Revolving Lender of such Ancillary Facility notice. 

(c) (i) Subject to the terms of this Agreement, an Affiliate of any Revolving Lender (other than a Disqualified Institution)
may become an Ancillary Lender, in which case such Revolving Lender and such Affiliate shall be treated as a single Revolving Lender whose Revolving Commitment is as set forth in Schedule 2.01 or in the Assignment and Assumption pursuant to
which such Revolving Lender assumed its Revolving Commitment. 
 (ii) To the extent that this Agreement or any other Loan
Document imposes any obligation on any Ancillary Lender and such Ancillary Lender is an Affiliate of a Revolving Lender and not a party thereto, the relevant Revolving Lender shall ensure that such obligation is performed by such Affiliate in
compliance with the terms hereof or such other Loan Document. 
 (iii) Each Ancillary Lender, in its capacity as such, hereby
appoints the Administrative Agent as its agent for purposes of the Loan Documents and for the avoidance of doubt agrees the Administrative Agent may rely on the applicable protections and indemnities set forth herein (including those set forth in
Article IX) with respect to its role as agent under the Loan Documents for such Ancillary Lender. 

  
 CREDIT AGREEMENT, Page 97 

 (d) The terms and conditions of any Ancillary Facility shall be as agreed by the
applicable Ancillary Lenders and the applicable Borrower thereunder; provided that such terms shall at all times: (i) permit extensions of credit thereunder to be made only to the applicable Borrower; (ii) provide that the Ancillary
Commitment of the applicable Ancillary Lenders under such Ancillary Facility shall not exceed such Ancillary Lender’s USD Only Revolving Commitment or USD/Multicurrency Revolving Commitment, as applicable, and that, in the event and on such
occasion that such Ancillary Commitment exceeds such USD Only Revolving Commitment or USD/Multicurrency Revolving Commitment, as applicable, such Ancillary Commitment shall be automatically reduced by the amount of such excess; (iii) provide
that the Ancillary Facility Exposure shall not exceed the Ancillary Commitment with respect to such Ancillary Facility and (iv) provide that the Ancillary Commitment under such Ancillary Facility shall be canceled, and that all extensions of
credit under such Ancillary Facility shall be repaid, not later than the Revolving Maturity Date unless cash collateralized or supported by the issuance of a “back to back” letter of credit in a manner meeting the requirements of clause
(iv) of the definition of “Date of Full Satisfaction”. 
 (e) (i) Each Ancillary Facility shall terminate
on the Revolving Maturity Date or such earlier date (A) as provided in the relevant Ancillary Facility Document or (B) on which its expiry date occurs or on which it is cancelled in accordance with the terms of this Agreement. 

(ii) If an Ancillary Facility expires in accordance with its terms, the Ancillary Commitment of the Ancillary Lender shall be
reduced to zero (and the Revolving Commitments of the Lenders and the Ancillary Lender shall no longer be deemed utilized to the extent set forth above in Section 2.23(a)). 

(iii) No Ancillary Lender may demand repayment or prepayment of, or cash collateralization of, any Ancillary Facility Exposure
prior to the expiry date of the relevant Ancillary Facility unless any of the following events has occurred and such Ancillary Lender has given the Parent Borrower and the relevant Borrower not less than three (3) Business Days’ notice
thereof: 
 (A) the Revolving Maturity Date has occurred; 

(B) the Revolving Loans have been accelerated and the Revolving Commitments terminated and repayment has been demanded
thereof, or the Indebtedness or other obligations thereunder; 
 (C) it has become unlawful in any applicable jurisdiction
for the Ancillary Lender to perform any of its obligations as contemplated by this Agreement or to fund, issue or maintain its participation in its Ancillary Facility; or 

(D) the Ancillary Facility Exposure, if any, under such Ancillary Facility is refinanced by a Revolving Loan and the relevant
Ancillary Lender provides sufficient notice to permit the refinancing of such Ancillary Facility Exposure with a Revolving Loan; provided that for the purposes of repaying any Ancillary Facility Exposure pursuant to paragraph
(e)(iii)(E) of this Section 2.23, the applicable conditions precedent to borrowing such Revolving Loan shall be met and the relevant Ancillary Facility shall be cancelled. 

  
 CREDIT AGREEMENT, Page 98 

 (f) Each Borrower to which an Ancillary Facility has been made available and each
Ancillary Lender shall, upon request by the Administrative Agent, promptly supply the Administrative Agent with any information relating to the operation of such Ancillary Facility (including the Ancillary Facility Exposure) as the Administrative
Agent may reasonably request. 
 (g) The Borrowers acknowledge and consent that Sections 2.14, 2.15,
2.16, 2.17, 2.18(f), 2.19 and 10.12 of this Agreement shall apply to each Ancillary Facility (unless expressly agreed by the relevant Ancillary Lender and the relevant Borrower in their sole discretion). 

(h) In the event of any conflict between the terms of an Ancillary Facility Document and any other Loan Document, the terms of
such other Loan Document shall govern except for (i) Sections 2.12 and 2.13 for the purposes of calculating fees, interest or commission relating to the relevant Ancillary Facility, (ii) any Ancillary Facility comprising more
than one account where the terms of the Ancillary Facility Documents shall prevail to the extent required to permit the netting of balances in respect of such accounts and (iii) where the relevant term of such Loan Document would be contrary
to, or inconsistent with, the law governing the relevant Ancillary Facility Document, in which case the relevant term of such Loan Document shall be superseded by the terms of the such Ancillary Facility Document to the extent necessary to eliminate
the subject conflict or inconsistency; provided, however, that notwithstanding anything to the contrary herein, (x) no Ancillary Facility Document shall contain any representation or warranty, covenant or event of default that is
not set forth in this Agreement (and any such representation or warranty, covenant or event of default not set forth in this Agreement shall be rendered null and void) and (y) all representations and warranties, covenants and events of default
set forth in any Ancillary Facility Document shall contain standards, qualifications, thresholds and exceptions for materiality or otherwise consistent with those set forth in this Agreement (and, to the extent inconsistent therewith, the relevant
Ancillary Documents shall be deemed to automatically incorporate the applicable standards, qualifications, thresholds and exceptions set forth herein without action by any Person). 

(i) Notwithstanding anything to the contrary herein, in any other Loan Document or in any Ancillary Facility Document, other
than as set forth in Section 8.01(f), no breach of any representation, warranty, undertaking or other term of (or default or event of default under) any Ancillary Facility Document shall be deemed to constitute, or result in, a breach of
any representation, warranty, undertaking or other term of, or Default or Event of Default under, this Agreement or any other Loan Document. 

(j) Notwithstanding any other provision hereunder to the contrary, no amendment or waiver of a term of any Ancillary Facility
Document shall require the consent of any Lender other than the relevant Ancillary Lender.  

  
 CREDIT AGREEMENT, Page 99 

 ARTICLE III 

Representations and Warranties 

Each Borrower (other than, in respect of Sections 3.11 and 3.12, which are made only by the Parent Borrower) party hereto
represents and warrants that: 
 Section 3.01 Organization; Powers. Each of the Borrowers and their Restricted Subsidiaries
(a) is validly existing under the laws of the jurisdiction of its organization or formation, except, in the case of a Restricted Subsidiary, where the failure to so exist could not reasonably be expected to result in a Material Adverse Effect,
(b) has all requisite power and authority to carry on its business as now conducted and (c) except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is
qualified to do business in, and is in good standing (where relevant) in, its jurisdiction of organization or formation and every other jurisdiction where such qualification is required. 

Section 3.02 Authorization; Enforceability. Each of the Parent Borrower and the Subsidiary Loan Parties has the corporate or other
organizational power and authority to execute, deliver and carry out the terms and provisions of the Loan Documents to which it is a party and has taken all necessary corporate or other organizational action to authorize the execution, delivery and
performance of the Loan Documents to which it is a party. This Agreement has been duly executed and delivered by the Borrowers party hereto and constitutes, and each other Loan Document to which any Loan Party is to be a party, when executed and
delivered by such Loan Party, will constitute, a legal, valid and binding obligation of such Borrower or such other Loan Party (as the case may be), enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium, capital impairment, recognition of judgments, recognition of choice of law, enforcement of judgments or other similar laws or other laws affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law. 
 Section 3.03 Governmental Approvals; No
Conflicts. The execution, delivery and performance of the Loan Documents: (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (i) such as have been
obtained or made and are in full force and effect, (ii) filings necessary to perfect Liens created under the Loan Documents and (iii) immaterial consents, approvals, registrations, filing or other actions, (b) will not violate
(i) any applicable law or regulation or any order of any Governmental Authority binding on such Person or (ii) in any material respect, the charter, by-laws or other organizational documents of such Borrower or any of its Restricted
Subsidiaries, (c) will not violate or result in a default under any material indenture, agreement or other instrument binding upon the Parent Borrower or any of its Restricted Subsidiaries or its assets, or give rise to a right thereunder to
require any payment to be made by the Parent Borrower or any of its Restricted Subsidiaries (unless such payment is not restricted hereunder), and (d) will not result in the creation or imposition of any Lien on any asset of the Parent Borrower
or any of its Restricted Subsidiaries, except Liens created under and Liens permitted by the Loan Documents, except to the extent such violation or default referred to in clause (b)(i) or (c) above could not reasonably be expected
to result in a Material Adverse Effect. 

  
 CREDIT AGREEMENT, Page 100 

 Section 3.04 Financial Condition; No Material Adverse Change. 

(a) Financial Statements. The Parent Borrower has heretofore furnished to the Lenders its consolidated balance sheet and
statements of income, stockholders equity and cash flows as of and for the fiscal quarter ended July 2, 2016 and the fiscal year ended January 2, 2016. Such financial statements present fairly, in all material respects, the financial
position and results of operations and cash flows of the Parent Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP. 

(b) No Material Adverse Change. Since July 2, 2016, there has been no material adverse change in the business,
assets, property, financial condition or results of operation, of the Parent Borrower and its Restricted Subsidiaries, taken as a whole. 

Section 3.05 Properties. 

(a) Title. Each of such Borrower and its Restricted Subsidiaries has good title to, or valid leasehold interests in, all
its real and personal property material to its business, except for defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes or where the failure
to have such title or interest could not reasonably be expected to result in a Material Adverse Effect. 
 (b)
Intellectual Property. Except as could not reasonably be expected to result in a Material Adverse Effect, (i) each of such Borrower and its Restricted Subsidiaries owns, or is licensed to use, all trademarks, tradenames, service names,
domain names, copyrights, patents and other intellectual property necessary for its business and (ii) to the knowledge of such Borrower, the use of any such intellectual property by such Borrower and its Restricted Subsidiaries does not
infringe upon the rights of any other Person and the intellectual property owned by any Loan Party is not being infringed by any other Person. 

Section 3.06 Litigation and Environmental Matters. 

(a) Litigation. There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending
against or, to the knowledge of such Borrower, threatened in writing against or affecting such Borrower or any of its Restricted Subsidiaries (i) which could reasonably be expected, individually or in the aggregate, to result in a Material
Adverse Effect or (ii) that as of the
FourthFifth Amendment Date, involve any of the Loan Documents or the Transactions to be consummated on or about the FourthFifth Amendment Date. 

(b) Environmental Matters. Except as could not reasonably be expected to, either individually or in the aggregate,
result in a Material Adverse Effect, neither such Borrower nor any of its Restricted Subsidiaries (i) has failed to comply with any applicable Environmental Law or to obtain, maintain or comply with any permit, license or other approval
required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received written notice of any pending or threatened claim with respect to any Environmental Liability or has knowledge of any event or
circumstance that could reasonably be expected to give rise to such a claim, (iv) knows of any basis for, or that could reasonably be expected to give rise to, any Environmental Liability, or (v) has assumed or retained by contract or
operation of law any obligations under Environmental Law or relating to Hazardous Materials. 
 Section 3.07 Compliance with
Laws. Such Borrower and each of its Restricted Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

  
 CREDIT AGREEMENT, Page 101 

 Section 3.08 Investment Company Act Status. Neither such Borrower nor any of its
Restricted Subsidiaries is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940. 

Section 3.09 Taxes. Such Borrower and each of its Restricted Subsidiaries has timely filed or caused to be filed all Tax returns
and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes not overdue by more than 30 days or, if more than 30 days overdue, that are being contested in good faith by
appropriate proceedings and for which such Borrower or such Restricted Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a
Material Adverse Effect. 
 Section 3.10 ERISA; Canadian Benefit Plans. No ERISA Event has occurred or is reasonably expected to
occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect. Except as could not
reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect, the fair market value of the assets of each Pension Plan was not materially less than the present value of the accumulated benefit obligation under
such Pension Plan (based on the assumptions used for purposes of Accounting Standards Codification No. 715: Compensation-Retirement Benefits) as of the close of the most recent Plan year, as reported in the most recent financial statements
reflecting such amounts. If all of the Pension Plans were terminated (disregarding any Pension Plans with surpluses), the unfunded liabilities with respect to the Pension Plans, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect. 
 The Canadian Loan Parties do not, and have not ever, sponsored, administered, participated in or contributed to a
Canadian Multi-Employer Plan, except as may be consented to by the Administrative Agent after the Effective Date (it being understood that at the Administrative Agent’s option it may also request the consent of the Required Lenders in
connection with such determination). Except as could not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect, (i) all Canadian Benefit Plans are or will be, and have been (where applicable),
established, registered (where required), amended, funded, invested and administered in material compliance with the terms of such Canadian Benefit Plans, all applicable laws and any applicable collective agreement; (ii) there is no
investigation by a Governmental Authority or claim (other than routine claims for payment of benefits) pending or, to the knowledge of the Canadian Loan Parties, threatened involving any Canadian Benefit Plan or its assets, and no facts exist which
could reasonably be expected to give rise to any such investigation or claim (other than routine claims for payment of benefits); (iii) all employer and employee payments, contributions and premiums required to be remitted, paid to or paid in
respect of each Canadian Benefit Plan have been paid or remitted in accordance with its terms and all applicable laws; (iv) any Canadian Pension Plans are or will be (within the time period permitted by applicable law) duly registered under all
applicable Canadian federal or provincial pension benefits standards legislation; (v) all material obligations of any Canadian Loan Party required to be performed in connection with the Canadian Pension Plans or the funding agreements therefor
have been performed in a timely fashion; (vi) all reports and disclosures relating to the Canadian Pension Plans required by any applicable laws have been or will be filed or distributed in a timely fashion; (vii) no amount is due and
owing by any of the Canadian Pension Plans under the Income Tax Act (Canada) or any provincial taxation or pension benefits statute; and (viii) no Canadian Pension Termination Event has occurred 

  
 CREDIT AGREEMENT, Page 102 

 Section 3.11 Disclosure. As of the FourthFifth Amendment Date, none of the written reports, financial statements, certificates or other information furnished by or on behalf of any Loan Party to the Administrative Agent (other than information of a general
economic or industry specific nature, projected financial information or other forward looking information) in connection with the negotiation of this Agreement or any other Loan Document (as modified or supplemented by other information so
furnished prior to the date on which this representation is made or deemed made), when taken as a whole, contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not materially misleading; provided that, with respect to projected financial information, the Borrowers represent only that such information was prepared in good faith based upon assumptions believed
to be reasonable at the time made (it being understood that projections may vary from actual results and that such variances may be material). 

Section 3.12 Subsidiaries. As of the Effective Date, the Parent Borrower has no Subsidiaries other than those listed on
Schedule 3.12 hereto. As of the Effective Date, Schedule 3.12 sets forth the jurisdiction of incorporation or organization of each such Subsidiary, the percentage of Parent Borrower’s ownership of the outstanding Equity Interests
of each Subsidiary directly owned by Parent Borrower and the percentage of each Subsidiary’s ownership of the outstanding Equity Interests of each other Subsidiary. As of the date required by Schedule 5.10, Schedule 3.12, as
amended or supplemented, sets forth the authorized, issued and outstanding Equity Interests of Parent Borrower and each Subsidiary. All of the outstanding capital stock of Parent Borrower and each Restricted Subsidiary has been, to the extent
applicable, validly issued, is fully paid, and is nonassessable. As of the Effective Date, there are no outstanding subscriptions, options, warrants, calls, or rights (including preemptive rights) to acquire, and no outstanding securities or
instruments convertible into any Equity Interests of any Restricted Subsidiary. 
 Section 3.13 Labor Matters. As of the
Effective Date, except as disclosed on Schedule 3.13, (a) there are no strikes, lockouts or slowdowns against the Parent Borrower or any Restricted Subsidiary pending or, to the knowledge of the Parent Borrower, threatened in writing, that
would have a material impact on the operations of the Parent Borrower and the Restricted Subsidiaries and (b) except as could not reasonably be expected to result in a Material Adverse Effect, the hours worked by and payments made to employees
of the Parent Borrower and the Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local or foreign law dealing with such matters 

Section 3.14 Solvency. As of the FourthFifth Amendment Date (a) the sum of the debt (including contingent liabilities) of
the Parent Borrower and its Subsidiaries on a consolidated basis, does not exceed the present fair saleable value of the assets of the Parent Borrower and its Subsidiaries on a consolidated basis, (b) the capital of the Parent Borrower and its
Subsidiaries on a consolidated basis, is not unreasonably small in relation to the business of the Parent Borrower and its Subsidiaries on a consolidated basis, contemplated as of the date hereof and (c) the Parent Borrower and its
Subsidiaries, on a consolidated basis, do not intend to incur, or believe that they will incur, debts (including current obligations and contingent liabilities) beyond their ability to pay such debts as they mature in the ordinary course of
business. For the purposes hereof, (x) the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be
expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5) and (y) the term “present fair saleable
value” means the amount that may be realized if the applicable company’s aggregate assets are sold with reasonable promptness in an arm’s length transaction under present conditions for the sale of a comparable business enterprises.

  
 CREDIT AGREEMENT, Page 103 

 Section 3.15 Margin Securities. Neither the Parent Borrower nor any of its Restricted
Subsidiaries, is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations U or X of the Board of Governors of the
Federal Reserve System) and no part of the proceeds of any Loan will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock in violation of Regulation X or that would entail
a violation of Regulation U of the Board of Governors of the Federal Reserve System (and if required by such regulations or requested by a Lender, the Parent Borrower or such Restricted Subsidiary, as applicable, will provide any applicable Lender
with a signed Form G-3 or U-1 or any successor form, as applicable, containing the information required to be provided on such form by such entity). 

Section 3.16 Security Documents. The Security Documents are effective to create in favor of the Administrative Agent for its
benefit and the ratable benefit of the Lenders a legal, valid, and enforceable (subject to applicable bankruptcy, insolvency, reorganization, moratorium, capital impairment, recognition of judgments, recognition of choice of law, enforcement of
judgments or other similar laws or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law) perfected Lien (subject to Liens permitted by
Section 6.02) on the Collateral as security for the relevant Obligations (it being understood that subsequent filings and recordings may be necessary to perfect Liens on the Collateral pursuant to Section 5.10) of each
grantor described therein. 
 Section 3.17 Use of Proceeds. The proceeds of the Credit Facilities shall be used (a) to
refinance certain existing indebtedness of the Parent Borrower and its Subsidiaries, (b) to pay fees and expenses related to the Transactions and related transactions (including any funding of original issue discount and upfront fees) and
(c) for general corporate purposes (including, in the case of the Revolving Facility, the working capital needs, capital expenditures, acquisitions, other investments, Restricted Payments and any other purpose not prohibited under the Loan
Documents) of the Parent Borrower and its Subsidiaries. Letters of Credit will be issued to support transactions entered into by the Parent Borrower or a Restricted Subsidiary in the ordinary course of business and, to the extent permitted or not
prohibited hereby, to support transactions entered into by an Unrestricted Subsidiary in the ordinary course of business. 

Section 3.18 Patriot Act; OFAC; FCPA. 

(a) Each of the Parent Borrower and its Subsidiaries is in compliance in all material respects with the Patriot Act. 

(b) (i) Each of the Parent Borrower and its Subsidiaries is in compliance, in all material respects, with the Trading with the
Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto; (ii) none of
the Parent Borrower or any of its Subsidiaries nor, to the knowledge of the Borrowers, any director, officer, agent or employee of any of the foregoing is (x) a person on the list of “Specially Designated Nationals and Blocked
Persons” or (y) currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”); and the Borrowers (other than the German Subsidiary Borrower) will not
directly or, 

  
 CREDIT AGREEMENT, Page 104 

 
to the knowledge of such Borrowers, indirectly use the proceeds of the Loans, Letter of Credit or any Ancillary Facility or otherwise make available such proceeds to any Person, for the purpose
of financing the activities of any Person subject at the time such proceeds are made available to any U.S. sanctions administered by OFAC, except to the extent licensed or otherwise approved by OFAC and with respect to the German Subsidiary
Borrower, the Parent Borrower shall ensure that such German Subsidiary Borrower will not directly or, to the Parent Borrower’s knowledge, indirectly use the proceeds of the Loans or any Ancillary Facility or otherwise make available such
proceeds to any Person, for the purpose of financing the activities of any Person subject at the time such proceeds are made available to any U.S. sanctions administered by OFAC, except to the extent licensed or otherwise approved by OFAC; and
(iii) no part of the proceeds of any Loan, Letter of Credit or Ancillary Facility will be used, directly or, to the knowledge of the Borrowers, indirectly, for any payments to any governmental official or employee, political party, official of
a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation in any material respect of the United States Foreign
Corrupt Practices Act of 1977, as amended or the Corruption of Foreign Public Officials Act (Canada). 
 ARTICLE IV 

Conditions 

Section 4.01 Effective Date. This Agreement shall become effective and the obligations of the Lenders to make Revolving Loans and
any agreement of the Issuing Bank to issue any Letters of Credit hereunder shall become effective on the date on which each of the following conditions is satisfied (or waived in accordance with Section 10.02): 

(a) Execution and Delivery of Loan Documents. The Administrative Agent (or its counsel) shall have received (i) a
counterpart of (x) this Agreement signed by the Parent Borrower, the Dutch Parent Borrower and, to the extent the Rothsay Acquisition Closing Date has occurred, the Canadian Borrower and (y) the U.S. Security Agreement and the Guaranty
Agreement, each signed on behalf of each Loan Party party thereto immediately prior to the Effective Date, or (ii) written evidence reasonably satisfactory to the Administrative Agent (which may include telecopy or email transmission of a
signed signature page of this Agreement) that such party has signed a counterpart of such agreements. 
 (b) Legal
Opinions. The Administrative Agent shall have received a written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of counsel (including, without limitation, local counsel) for the Loan Parties covering
such matters relating to the Loan Parties and the Loan Documents as of the Effective Date as are customary for financings of this type. The Parent Borrower hereby requests such counsel to deliver such opinions. 

(c) Corporate Authorization Documents. The Administrative Agent shall have received such documents and certificates as
the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of each Loan Party (other than the Dutch Parent Borrower), the authorization of the Transactions to be consummated in connection
with the execution and delivery hereof and any other legal matters relating to the Loan Parties (other than the Dutch Parent Borrower), the Loan Documents or such Transactions as are customary for financings of this type, all in form and substance
reasonably satisfactory to the Administrative Agent and its counsel. 

  
 CREDIT AGREEMENT, Page 105 

 (d) Dutch Parent Borrower. The Administrative Agent shall have received:

 (i) a copy of the articles of association (statuten) of the Dutch Parent Borrower, as well as an extract
(uittreksel) from the Dutch Commercial Register (Handelsregister) of the Dutch Parent Borrower. 
 (ii) a copy
of a resolution of the board of managing directors of the Dutch Parent Borrower: 
 (A) approving the terms of, and the
transactions contemplated by, the Loan Documents to which it is a party and resolving that it execute the Loan Documents to which it is a party; 

(B) if applicable, authorizing a specified person or persons to execute the Loan Documents to which it is a party on its
behalf; and 
 (C) if applicable, authorizing a specified person or persons, on its behalf, to sign and/or despatch all
documents and notices (including, if relevant, any Borrowing Request) to be signed and/or despatched by it under or in connection with the Loan Documents to which it is a party. 

(iii) if applicable, a copy of the resolution of the shareholder(s) of the Dutch Parent Borrower approving the resolutions of
the board of managing directors referred to under clause (ii) above; and 
 (iv) a specimen of the signature of
each member of the board of managing directors of the Dutch Parent Borrower and, if applicable, each person authorized by the resolutions referred to in clause (ii)(B) and/or (ii)(C) above in relation to the Loan Documents. 

(e) Patriot Act. The Administrative Agent shall have received, at least 5 days prior to the Effective Date, all
documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act, with respect to the Loan Parties as of the Effective
Date that has been reasonably requested by the Commitment Parties at least 10 days prior to the Effective Date. 
 (f)
Collateral Security. All actions necessary to establish that the Administrative Agent will have a perfected first priority security interest in the Collateral (subject to Liens permitted under this Agreement and it being understood that, to
the extent any Collateral is not or cannot be provided on the Effective Date (other than the grant and perfection of security interests (i) that may be perfected solely by the filing of a financing statement under the Uniform Commercial Code or
PPSA or (ii) in capital stock owned by the Parent Borrower and its Subsidiaries immediately prior to the Effective Date with respect to which a Lien may be perfected by the delivery of a stock certificate) after the Parent Borrower’s use
of commercially reasonable efforts to do so without undue burden or expense, then the provision of such Collateral shall not constitute a condition precedent to the Effective Date, but may instead be provided after the Effective Date pursuant to
arrangements to be mutually agreed between the Parent Borrower and the Administrative Agent). 

  
 CREDIT AGREEMENT, Page 106 

 The Administrative Agent shall notify the Parent Borrower and the Lenders of the
Effective Date, and such notice shall be conclusive and binding. 
 Section 4.02 [Reserved]. 

Section 4.03 [Reserved]. 

Section 4.04 Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and any agreement
of the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to receipt of the request therefor in accordance herewith and to the satisfaction of the following conditions: 

(a) Representations and Warranties. At the time of and immediately after giving effect to such Borrowing or issuance,
amendment, renewal or extension of such Letter of Credit, in each case, the representations and warranties of each Loan Party set forth in the Loan Documents shall be true and correct in all material respects with the same force and effect as if
such representations and warranties had been made on and as of such date except to the extent that such representations and warranties relate specifically to another date. 

(b) No Default. At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal
or extension of such Letter of Credit, as applicable, no Default shall have occurred and be continuing. 
 Each Borrowing and each issuance, amendment,
renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by each Borrower on the date thereof as to the matters specified in paragraphs (a) and (b) of this
Section 4.04. 
 ARTICLE V 

Affirmative Covenants 

Until the Date of Full Satisfaction, the Parent Borrower (and each other Borrower to the extent applicable) covenants and agrees with the
Lenders that: 
 Section 5.01 Financial Statements and Other Information. The Parent Borrower will furnish to the Administrative
Agent: 
 (a) Annual Audit. Within 90 days after the end of each fiscal year of the Parent Borrower, its audited
consolidated and unaudited consolidating balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous
fiscal year, all reported on by independent public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit (except
for any such qualification pertaining to the maturity of any Credit
FacilityIndebtedness occurring within 12 months of the relevant
audit or any breach or anticipated breach of any financial covenant) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Parent Borrower and its
Subsidiaries on a consolidated basis in accordance with GAAP; 

  
 CREDIT AGREEMENT, Page 107 

 (b) Quarterly Unaudited Financial Statements. Within 55 days after the end
of each of the first three fiscal quarters of each fiscal year of the Parent Borrower, its unaudited consolidated and consolidating balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for
such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal
year, all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Parent Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with
GAAP, subject to normal year-end audit adjustments and the absence of footnotes; 
 (c) Compliance Certificate.
Concurrently with any delivery of financial statements under clause (a) or (b) above, a certificate in substantially the form of Exhibit D hereto of a Financial Officer of the Parent Borrower (i) certifying as to
whether a Default, which has not previously been disclosed or which has not been cured, has occurred and, if such a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto,
(ii) setting forth reasonably detailed calculations demonstrating compliance with Article VII and (iii) stating whether any change in GAAP or in the application thereof has occurred since the date of the Parent Borrower’s
audited financial statements referred to in Section 3.04 which has not already been disclosed and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such certificate; 

(d) [Reserved]; 

(e) Budget. Within 45 days after the end of each fiscal year of the Parent Borrower, a detailed consolidated budget for
the then current fiscal year (including a projected consolidated balance sheet and related statements of projected operations and cash flow as of the end of and for such fiscal year) and setting forth the material assumptions used for purposes of
preparing such budget; 
 (f) Public Reports. Promptly after the same become publicly available, copies of all
periodic and other reports, proxy statements and other materials filed by the Parent Borrower or any Restricted Subsidiary with the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of the functions of said
Commission, or with any national securities exchange, as the case may be; 
 (g) Additional Information. Promptly
following any reasonable request therefor such additional information as the Administrative Agent (for its own account or upon the reasonable request from any Lender) from time to time reasonably requests regarding the operations, business affairs
and financial condition of Parent Borrower or any Restricted Subsidiary as well as any information required by the Patriot Act; provided, however, that the Parent Borrower and any its Subsidiaries shall not be required to disclose or
provide any information (a) that constitutes non-financial trade secrets or non-financial proprietary information of such Person or any of its Subsidiaries or any of their respective customers and/or suppliers, (b) in respect of which
disclosure to the Administrative Agent or any Lender (or any of their respective representatives) is prohibited by any applicable law, (c) that is subject to 

  
 CREDIT AGREEMENT, Page 108 

 
attorney-client or similar privilege or constitutes attorney work product or (d) in respect of which the Parent Borrower or any Subsidiary owes confidentiality obligations to any third
party; provided, further, that in the event that the Parent Borrower or any Restricted Subsidiary does not provide information in reliance on the preceding clause (c) or (d) due to privilege or confidentiality
concerns, the Parent Borrower or such Restricted Subsidiary shall provide notice to the Administrative Agent that such information is being withheld and, in the case of clause (d), shall use its commercially reasonable efforts to
communicate the applicable information in a way that would not violate the applicable obligation or risk waiver of such privilege); 

(h) ERISA Notices. Promptly upon reasonable request of the Administrative Agent, the Loan Parties and/or their ERISA
Affiliates shall promptly make a request for any documents described in Section 101(k) and 101(l) of ERISA that any Loan Party or any ERISA Affiliate may request of any Multiemployer Plans or notices from such administrator or sponsor and the
Parent Borrower shall provide copies of such documents and notices to the Administrative Agent promptly after receipt thereof; 
 The information required
to be delivered by clauses (a), (b) and (f) of this Section 5.01 shall be deemed to have been delivered on the date on which the Parent Borrower posts such information on its website on the Internet at
www.darlingii.com or when such information is posted on the SEC’s website on the Internet at www.sec.gov (including within any Form 10-K or Form 10-Q); provided that the Parent Borrower shall give notice of any such posting to the
Administrative Agent (who shall then give notice of any such posting to the Lenders); provided further, that the Parent Borrower shall deliver paper copies of any such information to the Administrative Agent if the Administrative Agent
or any Lender requests the Parent Borrower to deliver such paper copies. 
 Section 5.02 Notices of Material Events. The Parent
Borrower will furnish to the Administrative Agent prompt written notice of (and if applicable, in the case of clause (d) below, the items set forth in) the following: 

(a) Default. A Responsible Officer of the Parent Borrower obtaining knowledge of the existence of any Default; 

(b) Notice of Proceedings. The filing or commencement of any action, suit or proceeding by or before any arbitrator or
Governmental Authority against or affecting the Parent Borrower or any Restricted Subsidiary that could reasonably be expected to result in a Material Adverse Effect; 

(c) ERISA Event. The occurrence of any ERISA Event that, alone or together with any other ERISA Events that have
occurred, could reasonably be expected to result in a Material Adverse Effect; and 
 (d) Canadian Pensions. 

(i) If requested by the Administrative Agent, promptly after such request (i) (x) copies of all actuarial reports and
any other material reports which have been filed with a Governmental Authority with respect to each Canadian Defined Benefit Plan, and (y) any material direction, order, notice, ruling or opinion related to funding, windup or termination of any
Canadian Defined Benefit Plan that any Canadian Loan Party may receive from a Governmental Authority with respect to any Canadian Defined Benefit Plan. 

  
 CREDIT AGREEMENT, Page 109 

 (ii) Promptly after any Responsible Officer of the Canadian Borrower obtains
actual knowledge thereof, (v) a Canadian Pension Termination Event, (w) the failure in any material respect to make a required contribution to or payment under any Canadian Benefit Plan when due in accordance with its terms and applicable
laws, (x) the occurrence of any event which is reasonably likely to result in any Canadian Loan Party incurring any liability, fine or penalty with respect to any Canadian Benefit Plan that could reasonably be expected to have a Material
Adverse Effect, (y) the establishment of any new plan which, if it currently existed, would be a Canadian Defined Benefit Plan, or any change to an existing Canadian Defined Benefit Plan that could reasonably be expected to have a Material
Adverse Effect or (z) the acquisition of an interest in any Person if such Person sponsors, administers, or participates in, or has any liability in respect of, any Canadian Defined Benefit Plan. 

(e) Material Adverse Effect. Any other development that results in, or could reasonably be expected to result in, a
Material Adverse Effect. 
 Each notice delivered under this Section shall be accompanied by a statement of a Responsible Officer setting forth the details
of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 
 Section 5.03
Existence; Conduct of Business. The Parent Borrower will, and will cause each of its Restricted Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence except,
solely in the case of a Restricted Subsidiary, where the failure to do so could not reasonably be expected to result in a Material Adverse Effect; provided that the foregoing shall not prohibit any transactions permitted under
Section 6.03 or Section 6.05. The Parent Borrower will, and will cause each of its Restricted Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect all of its
rights, licenses, permits, privileges or franchises unless the failure to preserve, renew and keep in full force and effect such rights, licenses, permits, privileges or franchises could reasonably be expected to result in a Material Adverse Effect;
provided that the foregoing shall not prohibit any transactions permitted under Section 6.03 or Section 6.05. 

Section 5.04 Payment of Taxes. The Parent Borrower will, and will cause each of its Restricted Subsidiaries to, pay its Tax
liabilities before the same shall become more than 30 days overdue, or if more than 30 days overdue, except where (a) (i) the validity or amount thereof is being contested in good faith by appropriate proceedings, (ii) the Parent
Borrower or such Restricted Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP, and (iii) such contest effectively suspends collection of the contested obligation and the foreclosure of any Lien
securing such obligation or (b) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect. 

Section 5.05 Maintenance of Properties. The Parent Borrower will, and will cause each of its Restricted Subsidiaries to, keep and
maintain all property in good working order and condition, ordinary wear and tear and casualty and condemnation excepted and except to the extent the failure to do so could not reasonably be expected to result in a Material Adverse Effect or as
otherwise expressly permitted by this Agreement. 

  
 CREDIT AGREEMENT, Page 110 

 Section 5.06 Insurance. The Parent Borrower will, and will cause each of its
Restricted Subsidiaries to, maintain, with financially sound and reputable insurance companies insurance in such amounts (with no greater risk retention) and against such risks as are customarily maintained by companies of established repute engaged
in the same or similar businesses operating in the same or similar locations. The Parent Borrower will furnish to the Lenders, upon reasonable request of the Administrative Agent (but not more frequently than once per fiscal year), information in
reasonable detail as to the insurance so maintained. In the case of insurance policies maintained by any Domestic Loan Party, (a) each general liability insurance policy shall name the Administrative Agent (or its agent or designee) as
additional insured and (b) each insurance policy covering Collateral shall name the Administrative Agent (or its agent or designee) as loss payee and shall provide that such policy will not be canceled or materially changed without 30 days (or
10 days in the event of a payment default) prior written notice to the Administrative Agent. 
 Section 5.07 Books and Records;
Inspection. The Parent Borrower will, and will cause each of its Restricted Subsidiaries to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business
and activities in order to permit the preparation of its financial statements in accordance with GAAP. The Parent Borrower will, and will cause each of its Restricted Subsidiaries to, permit any representatives designated by the Administrative
Agent, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such
reasonable times during normal business hours and as often as reasonably requested; provided that (a) the Parent Borrower shall not be required to reimburse such expenses unless an Event of Default exists at the time thereof (and the
Parent Borrower shall reimburse the Administrative Agent for all such visits, inspections, examinations and discussions conducted when an Event of Default exists) and (b) the Parent Borrower shall have the opportunity to be present at any
meeting with its independent accountants. Notwithstanding anything to the contrary in this Section 5.07, the Parent Borrower and any Restricted Subsidiary will not be required to disclose or permit the inspection or discussion of, any
document, information or other matter (1) in respect of which disclosure to the Administrative Agent or any Lender (or their respective representatives or contractors) is prohibited by law or any binding agreement not entered into in
contemplation of avoiding such inspection and disclosure rights, (2) that is subject to attorney client or similar privilege or constitutes attorney work product, (3) in respect of which the Parent Borrower or any Restricted Subsidiary
owes confidentiality obligations to any third party not entered into in contemplation of avoiding such inspection and disclosure or (4) that constitutes non-financial trade secrets or non-financial proprietary information of the Parent Borrower
or any Subsidiary thereof and/or any customers and/or suppliers of the foregoing; provided that in the event that any the Parent Borrower or any Restricted Subsidiary does not provide any information requested in connection with an
examination or a discussion permitted under this Section 5.07 in reliance on the preceding clause (2) or (3) due to confidentiality or waiver concerns, such Person shall provide notice to the Administrative Agent
that such information is being withheld and, in the case of clause (3), shall use its commercially reasonable efforts to communicate the applicable information in a way that would not violate the applicable obligation or risk waiver of such
privilege. 
 Section 5.08 Compliance with Laws. The Parent Borrower will, and will cause each of its Restricted Subsidiaries
to, comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect. 
 Section 5.09 [Reserved]. 

  
 CREDIT AGREEMENT, Page 111 

 Section 5.10 Collateral Matters; Guaranty Agreement. 

(a) Further Assurances. Subject to the terms of the Security Documents, the Agreed Security Principles and
Section 5.10(f), the Parent Borrower will, and will cause each Subsidiary Loan Party to, execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and
recording of financing statements), which may be required under any applicable law, or which the Administrative Agent may reasonably request, to effectuate the transactions contemplated by the Loan Documents or to grant, preserve, protect or perfect
the Liens created or intended to be created by the Security Documents or the validity or priority of any such Lien, all at the expense of the Loan Parties. 

(b) Additional Restricted Subsidiaries. Subject to Section 5.10(f) and the Agreed Security Principles, in
furtherance of the foregoing, if any additional Subsidiary (other than a Receivables Subsidiary) is formed or acquired after the Effective Date or any Unrestricted Subsidiary is designated as a Restricted Subsidiary after the Effective Date, or the Canadian Borrower Joinder Date occurs, as applicable, such
Borrower will notify the Administrative Agent and the Lenders thereof and (i) if such Subsidiary is a Domestic Subsidiary that is not an Excluded Subsidiary, such Borrower will cause such Restricted Subsidiary to become a party to the Guaranty
Agreement, pursuant to which such Domestic Subsidiary shall guarantee the Obligations (which include the Foreign Obligations), and the U.S. Security Agreement, in each case, promptly after such Restricted Subsidiary is formed, acquired or designated
and promptly take such actions to create and perfect Liens on such Restricted Subsidiary’s assets of the type that would be subject to the type of Security Documents described on Schedule 5.10 to secure such Obligations, as the
Administrative Agent shall reasonably request, (ii) if such Subsidiary is a Specified Foreign Subsidiary that is not an Excluded Subsidiary, the Parent Borrower will cause such Restricted Subsidiary to become a party to (A) the Guaranty
Agreement, pursuant to which such Foreign Subsidiary shall guarantee the Obligations (until the Pari Passu Notes Repayment Date) and after the Pari Passu Notes Repayment Date, only the Foreign Obligations and (B) the Canadian Security Agreement
or other applicable Foreign Security Agreement, in each case, promptly after such Restricted Subsidiary is formed, acquired or designated and promptly take such actions to create and perfect Liens on such Restricted Subsidiary’s assets of the
type that would be subject to the type of Security Documents described on Schedule 5.10 to secure the Obligations (until the Pari Passu Notes Repayment Date) and after the Pari Passu Notes Repayment Date, only the Foreign Obligations, as the
Administrative Agent shall reasonably request and (iii) subject to the Agreed Security Principles, if any Equity Interest in any Restricted Subsidiary is acquired after the Effective Date by or on behalf of any Loan Party or any Unrestricted
Subsidiary (other than a Receivables Subsidiary) is designated as a
Restricted Subsidiary after the Effective Date, the Parent Borrower will cause the Equity Interests of each such Restricted Subsidiary to be pledged pursuant to the U.S. Security Agreement, Canadian Security Agreement or other Foreign Security
Agreement, as applicable, promptly after such Restricted Subsidiary is formed, acquired or designated (except that, to the extent such pledge secures all the Obligations and not just the Foreign Obligations, if such Restricted Subsidiary is
(x) a Domestic Subsidiary and substantially all of its assets consist of the debt or equity of one or more direct or indirect Foreign Subsidiaries (other than, in the case of Specified Foreign Subsidiaries, prior to the Pari Passu Notes
Repayment Date; provided that in no event shall this parenthetical apply to any direct or indirect holding companies of the Foreign Borrowers that are not Specified Foreign Subsidiaries) or (y) a Foreign Subsidiary (other than Specified
Foreign Subsidiaries, prior to the Pari Passu Notes Repayment Date; 

  
 CREDIT AGREEMENT, Page 112 

 
provided that in no event shall this parenthetical apply to any direct or indirect holding companies of any Foreign Borrowers which are not Specified Foreign Subsidiaries), the voting
Equity Interest in such Restricted Subsidiary to be pledged pursuant to the U.S. Security Agreement, the Canadian Security Agreement and/or Foreign Security Agreement, as applicable, shall be limited to 65% of the outstanding voting Equity Interests
of such Restricted Subsidiary). Notwithstanding anything to the contrary herein and in any other Loan Document but subject to the Agreed Security Principles, on and after the Pari Passu Notes Repayment Date, the Foreign Subsidiary Loan Parties shall
only guarantee the Foreign Obligations and the assets and property of the Foreign Subsidiary Loan Parties shall only secure the Foreign Obligations and the Lenders hereby authorize the Administrative Agent to take any actions and execute any
documents in accordance with Section 9.10 as it reasonably determines are advisable to evidence or effect the guarantee and security structure contemplated by this sentence (such modified structure, the “Foreign Collateral
Reallocation”). 
 (c) Excessive Cost. Notwithstanding the provisions of clauses (a) and
(b) of this Section 5.10 or the terms of the U.S. Security Agreement, the Canadian Security Agreement or a Foreign Security Agreement, (i) the Administrative Agent (or its designee) shall not take a Lien (or perfect a
Lien) in an asset of a Loan Party if (A) the Administrative Agent and the Parent Borrower reasonably determine that the burden, difficulty, consequence or cost of granting or perfecting a Lien on such asset (including any stamp, intangibles or
other tax) is disproportionate to the benefit to the Lenders afforded by such Lien on such asset, (B) the granting of a security interest in such asset would be prohibited, in the case of a contract, by enforceable anti-assignment provisions in
such contract or by applicable law or with respect to any other assets to the extent such a pledge would violate the terms of any contract governing the purchase, financing or ownership of such assets or would trigger termination pursuant to any
“change of control” or similar provision under such contract (in each case, after giving effect to the relevant provisions of the Uniform Commercial Code, PPSA or similar law in any jurisdiction, as applicable, in effect in the applicable
jurisdiction and other relevant legislation) or (C) a security or pledge agreement would be required to be governed by the laws of a jurisdiction other than the one in which such Loan Party is then organized, (ii) Liens on the following
assets shall not be required to be perfected: (A) cash and cash equivalents, deposit and securities accounts (including securities entitlements and related assets), in each case to the extent a security interest therein cannot be perfected by
the filing of a financing or registration statement under the Uniform Commercial Code, PPSA or similar law in any jurisdiction, as applicable; (B) other assets requiring perfection through control agreements; and (C) commercial tort claims
less than $10,000,000 and (iii) (A) no Liens on any fee owned or leased real property, vehicles, aircraft, watercraft, similar vehicles or any other assets subject to certificates of title of the Parent Borrower or any of its Subsidiaries
shall be required (and for greater certainty, no Borrower shall be required to make serial number registrations (or like registrations) against any serial number goods (or like concept) and (B) the Loan Parties shall not be required to seek any
landlord waiver, estoppel, warehouseman waiver or other collateral access or similar letter or agreement. 
 (d)
Designation of Immaterial Subsidiaries as Subsidiary Loan Parties. The Parent Borrower shall cause one or more of its Immaterial Subsidiaries that are not otherwise Excluded Subsidiaries to become a Subsidiary Loan Party (including by causing
any such Immaterial Subsidiary to execute any applicable supplement or joinder to any applicable Security Document and to grant a security interest in any of its Collateral required to be so granted thereunder) to the extent necessary to reduce the
EBITDA of the Immaterial Subsidiaries, individually or 

  
 CREDIT AGREEMENT, Page 113 

 
collectively, for the 4 fiscal quarter period ended most recently prior to such date to be not greater than 5% of the EBITDA of the Parent Borrower and its Subsidiaries taken as a whole. Upon
becoming a Subsidiary Loan Party, such Immaterial Subsidiary shall cease to be designated an Immaterial Subsidiary. 
 (e)
Timing of Actions and Deliverables. Notwithstanding anything to the contrary herein, all actions and deliverables required under this Section 5.10 shall be deemed taken or delivered promptly if such actions or deliverables are
taken or delivered upon the later of (i) the next delivery date of the financials contemplated by Section 5.01(a) and 5.01(b) and (ii) the date expressly requested by the Administrative Agent acting in its reasonable
discretion. 
 (f) Post-Closing Items. [Reserved]. 

Section 5.11 Maintenance of Ratings. At any time when a “term B loan” is outstanding under this Agreement, the Parent
Borrower will use commercially reasonable efforts to cause to be maintained at all times (a)(i) a corporate family rating, in the case of Moody’s or (ii) an issuer credit rating, in the case of S&P, for the Parent Borrower and
(b) credit ratings for the Credit Facilities from Moody’s and S&P. 
 Section 5.12 Canadian Benefit Plans. Each
Canadian Loan Party shall, with respect to each Canadian Defined Benefit Plan: (a) in a timely fashion perform in all material respects all obligations (including funding, investment and administration obligations) required to be performed in
connection with such Canadian Defined Benefit Plan; and (b) pay all material contributions, premiums and payments when due in accordance in all material respects with its terms and all applicable laws. 

ARTICLE VI 
 Negative
Covenants 
 Until the Date of Full Satisfaction, each Borrower covenants and agrees with the Lenders that: 

Section 6.01 Indebtedness. Such Borrower will not, and will not permit any of its Restricted Subsidiaries to, create, incur, assume
or permit to exist any Indebtedness, except: 
 (a) (i) Indebtedness created under the Loan Documents (including with respect
to Specified Refinancing Debt), (ii) Indebtedness of the Loan Parties evidenced by Refinancing Notes and any Permitted Refinancing Indebtedness in respect thereof and (iii) Indebtedness of the Loan Parties evidenced by Refinancing Junior
Loans and any Permitted Refinancing Indebtedness in respect thereof; 
 (b) Indebtedness in respect of (i) the Pari
Passu Notes (including, for the avoidance of doubt, Permitted Refinancing Indebtedness in respect thereof as included in the definition of “Pari Passu Notes”), (ii) [reserved] and (iii) the NewExisting Senior Unsecured Notes (including, for the avoidance of doubt, Permitted Refinancing Indebtedness in respect thereof as included in the definition of “NewExisting Senior Unsecured Notes”); 
 (c) Indebtedness existing on the date hereof
and set forth in Schedule 6.01 and amendments, modifications, extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof except as otherwise permitted by this
Section 6.01; 

  
 CREDIT AGREEMENT, Page 114 

 (d) Indebtedness among the Parent Borrower and its Subsidiaries (including
between or among Subsidiaries); provided that, (i) all such Indebtedness of any Loan Party owing to an Excluded Subsidiary must, subject to applicable law, regulations and orders of any Governmental Authority, be expressly subordinated
to such Loan Party’s Obligations on terms and conditions reasonably satisfactory to the Administrative Agent, it being understood that payments may be made thereon unless an Event of Default has occurred and is continuing and the Loans have
been accelerated in accordance with Section 8.01 and (ii) any Indebtedness owing to the Parent Borrower or any Restricted Subsidiary by any Excluded Subsidiary shall be subject to compliance with Section 6.04; 

(e) Guarantees by the Parent Borrower of Indebtedness of any Subsidiary and by any Restricted Subsidiary of Indebtedness of the
Parent Borrower or any other Subsidiary; provided that (i) Guarantees by the Parent Borrower or any Restricted Subsidiary of Indebtedness of any Excluded Subsidiary shall be subject to compliance with Section 6.04,
(ii) Guarantees permitted under this clause (e) shall be subordinated to the Obligations of the applicable Restricted Subsidiary to the same extent and on terms not materially less favorable to the Lenders as the Indebtedness so
Guaranteed is subordinated to the Obligations and (iii) no
NewExisting Senior Unsecured Notes, Pari Passu Notes, Refinancing Notes or any Refinancing Junior Loans shall be Guaranteed by any Restricted Subsidiary unless such Restricted Subsidiary is a Loan Party (or becomes a Loan
Party substantially simultaneously therewith) that has Guaranteed the applicable Obligations or Foreign Obligations pursuant to a Guaranty Agreement; 

(f) (i) Indebtedness of the Parent Borrower or any Restricted Subsidiary incurred to finance the acquisition, construction,
repair or improvement of any assets (including rolling stock), including Capital Lease Obligations, mortgage financings, purchase money indebtedness (including any industrial revenue bonds, industrial development bonds and similar financings),
(ii) Indebtedness of the Parent Borrower or any Restricted Subsidiary assumed in connection with the acquisition of any assets or secured by a Lien on any assets prior to the acquisition thereof, and (iii) any amendments, modifications,
extensions, renewals and replacements of any such Indebtedness permitted by this clause (f) that do not increase the outstanding principal amount thereof except as otherwise permitted by this Section 6.01; provided
that (A) in the case of clause (f)(i), such Indebtedness is incurred prior to or within 270 days after such acquisition or the completion of such construction, repair or improvement and (B) in the case of clauses (f)(i) and
(f)(ii), on a Pro Forma Basis after giving effect to the incurrence of any such Indebtedness, the Parent Borrower is in compliance with the Financial Covenants and the Parent Borrower’s Secured Leverage Ratio does not exceed 4.00 to
1.00. 
 (g) Indebtedness arising in connection with Swap Agreements permitted by Section 6.07; provided
that Guarantees by any Loan Party of such Indebtedness of any Excluded Subsidiary shall be subject to compliance with Section 6.04; 

(h) (i) Indebtedness of any Person that becomes a Restricted Subsidiary after the date hereof and (ii) amendments,
modifications, extensions, renewals and replacements thereof which do not increase the principal amount thereof except as otherwise permitted by this Section 6.01; provided that in the case of clause (h)(i) (A) such
Indebtedness exists at the time such Person becomes a Restricted Subsidiary and is not created in contemplation of or in connection with such Person becoming a Restricted Subsidiary, and (B) on a Pro Forma Basis after giving effect to the
incurrence of any such Indebtedness, the Total Leverage Ratio does not exceed 5.50 to 1.00 and the Secured Leverage Ratio does not exceed 4.00 to 1.00; 

  
 CREDIT AGREEMENT, Page 115 

 (i) obligations in respect of workers compensation claims, health, disability or
other employee benefits, unemployment insurance and other social security laws or regulations or property, casualty or liability insurance and premiums related thereto, self insurance obligations, customs, surety, stay, appeal and performance bonds,
and performance and completion guarantees and similar obligations incurred by the Parent Borrower or any Restricted Subsidiary, in each case in the ordinary course of business; 

(j) to the extent constituting Indebtedness, contingent obligations arising under indemnity agreements to title insurance
companies to cause such title insurers to issue title insurance policies in the ordinary course of business with respect to the real property of the Parent Borrower or any Restricted Subsidiary; 

(k) to the extent constituting Indebtedness, customary indemnification and purchase price adjustments or similar obligations
(including earn-outs) incurred or assumed in connection with Investments and Dispositions otherwise permitted hereunder; 

(l) to the extent constituting Indebtedness, unfunded pension fund and other employee benefit plan obligations and liabilities
to the extent they are permitted to remain unfunded under applicable law; 
 (m) to the extent constituting Indebtedness,
deferred compensation payable to directors, officers, employees, members of management or consultants of the Parent Borrower and the Restricted Subsidiaries; 

(n) Indebtedness in respect of repurchase agreements constituting Permitted Investments; 

(o) Indebtedness consisting of promissory notes issued by the Parent Borrower or any Restricted Subsidiary to future, present
or former directors, officers, members of management, employees or consultants of the Parent Borrower or any of its Subsidiaries or their respective estates, heirs, family members, spouses or former spouses to finance the purchase or redemption of
Equity Interests of the Parent Borrower permitted by Section 6.08; 
 (p) cash management obligations and
Indebtedness incurred by the Parent Borrower or any Restricted Subsidiary in respect of netting services, overdraft protections, commercial credit cards, stored value cards, purchasing cards and treasury management services, automated clearing-house
arrangements, employee credit card programs, controlled disbursement, ACH transactions, return items, interstate deposit network services, incentive, supplier finance or similar programs, Society for Worldwide Interbank Financial Telecommunication
transfers, cash pooling and operational foreign exchange management and similar arrangements, in each case entered into in the ordinary course of business in connection with cash management, including among the Parent Borrower and its Subsidiaries,
and deposit accounts; 
 (q) (i) Indebtedness consisting of the financing of insurance premiums and (ii) take-or-pay
obligations constituting Indebtedness of the Parent Borrower or any Restricted Subsidiary, in each case, entered into in the ordinary course of business; 

  
 CREDIT AGREEMENT, Page 116 

 (r) Indebtedness incurred by a
Loanthe Parenty
 Borrower or any Restricted Subsidiary constituting reimbursement obligations with
respect to letters of credit (other than Letters of Credit issued pursuant to this Agreement), bank guarantees or similar instruments entered into in the ordinary course of business and the obligations arising under drafts accepted and delivered in
connection with a drawing thereunder; provided that (i) upon the drawing of any such letters of credit or the incurrence of such Indebtedness, such obligations are reimbursed within 30 days following such drawing or incurrence and
(ii) the aggregate outstanding face amount of all such letters of credit or bank guarantees does not exceed the greater of $20,000,000 and 0.5% of Consolidated Total Assets at any time; 

(s) obligations, contingent or otherwise, for the payment of money under any noncompete, consulting or similar agreement
entered into with the seller of a Target or any other similar arrangements providing for the deferred payment of the purchase price for an acquisition permitted hereby; 

(t) Indebtedness of the type described in clause (e) of the definition thereof to the extent the related Lien is
permitted under Section 6.02; 
 (u) Indebtedness consisting of or relating to Receivables Facilities; 

(v) other Indebtedness of the Parent Borrower and its Restricted Subsidiaries; provided that the aggregate principal
amount of Indebtedness permitted by this clause (v) shall not exceed the greater of $150,000,000 and 3.0% of Consolidated Total Assets at any time outstanding; 

(w) Indebtedness in the form of (i) Guarantees of Indebtedness of the Renewable Diesel Joint Venture; provided that
on a Pro Forma Basis after giving effect to the incurrence of such Guarantee, the Parent Borrower would have been in compliance with the covenant set forth in Section 7.02 as of the last day of the immediately preceding fiscal quarter
and (ii) Guarantees of any obligation to make an Investment in the Renewable Diesel Joint Venture permitted to be made in accordance with Section 6.04; 

(x) (i) additional Indebtedness to the extent that on a Pro Forma Basis after giving effect to the incurrence of such
Indebtedness, the Parent Borrower is in compliance with the covenant set forth in Section 7.02 and (ii) Permitted Refinancing Indebtedness with respect to Indebtedness referred to in clause (i). 

(y) Indebtedness of Restricted Subsidiaries that are not Loan Parties in an aggregate amount outstanding not to exceed the
greater of $150,000,000 and 3.0% of Consolidated Total Assets in the aggregate provided such Indebtedness is either (i) unsecured (but which may be guaranteed by the Parent Borrower pursuant to Section 6.01(e))) or
(ii) secured by only the Equity Interests in or assets of any Restricted Subsidiary that is not a Subsidiary Loan Party; 

(z) intercompany Indebtedness among the Parent Borrower and its Subsidiaries described in the PWC Steps Memo (or implied
thereunder as necessary to implement the transactions described therein; 
 (aa) any liability of the Group arising under a
declaration of joint and several liability (hoofdelijke aansprakelijkheid) as referred to in Article 2:403 of the Dutch Civil Code, issued prior to the date of this Agreement or any joint and several liability (hoofdelijke
aansprakelijkheid) under any fiscal unity (fiscale eenheid) for Dutch corporate income purposes provided that all members of the fiscal unity are members of the Group; 

 

  
 CREDIT AGREEMENT, Page 117 

 (bb) (i) notes or loans (or commitments in respect thereof) that are
unsecured, or secured by Liens on the Collateral ranking junior to or pari passu with the Liens securing the Credit Facilities outstanding on the FourthFifth Amendment Date pursuant to an intercreditor agreement in form reasonably
satisfactory to the Administrative Agent (any such Indebtedness, “Incremental Equivalent Debt”); provided that (A) the aggregate outstanding principal amount of all Incremental Equivalent Debt shall not exceed the amount
permitted to be incurred under the Incremental Amount, (B) the incurrence of such Indebtedness shall be subject to clauses (i), (ii), (iv), and solely in the case of loans (or commitments in respect thereof) which rank
pari passu in right of payment and with respect to security with the Term B Loans outstanding on the FourthFifth Amendment Date, clause (vi) of Section 2.20(d) as if such
Incremental Equivalent Debt constituted Incremental Term Loans, (C) the financial maintenance covenants (if any) applicable to such Incremental Equivalent Debt shall not be, when taken as a whole, materially more favorable, to the holders of
such Indebtedness than those applicable under this Agreement (except for such financial maintenance covenants applicable only to periods after the Latest Maturity Date or the Administrative Agent shall have been given prompt written notice thereof
and this Agreement is amended to include such financial maintenance covenant for the benefit of each Credit Facility (which such amendment may be effected by an amendment signed by the Parent Borrower and the Administrative Agent (and the Required
Lenders hereby authorize the Administrative Agent to enter into such amendment) and, for the avoidance of doubt, it being understood that if such financial covenant is a “springing” financial maintenance covenant applicable only to
revolving Indebtedness, such financial covenant shall be automatically included in this agreement only for the benefit of each Revolving Facility and not for the benefit of any Credit Facility in respect of Term Loans hereunder) and (D) solely
with respect to Indebtedness in the form of loans which rank pari passu in right of payment, and secured by Liens on the Collateral ranking pari passu with the Liens securing, the Term B Loans outstanding on the FourthFifth Amendment Date, all other terms with respect to such loans which are materially more restrictive (taken as a whole) than those with respect to the Loans under the existing applicable Class of Credit Facility
shall be (x) permitted by clauses (A) through (C) of the preceding sentence, (y) applicable only after the Latest Maturity Date of the relevant Credit Facility outstanding on the FourthFifth Amendment Date (which may be achieved by an amendment solely among the Parent Borrower and the Administrative Agent (and the Required Lenders hereby authorize the Administrative Agent to enter into such
amendment)), or (z) otherwise be reasonably satisfactory to the Administrative Agent; provided that documentation governing any such loan may include such materially more restrictive terms so long as the Administrative Agent shall have been
given prompt written notice thereof and this Agreement is amended to include such term for the benefit of each Credit Facility of the same Class (which may be achieved by an amendment solely among the Parent Borrower and the Administrative Agent
(and the Required Lenders hereby authorize the Administrative Agent to enter into such amendment)) and (ii) Permitted Refinancing Indebtedness with respect to the Indebtedness referred to in clause (bb)(i) above; 

(cc) Indebtedness in respect of any letter of credit or bank guarantee issued in favor of any Issuing Bank to support any
Defaulting Lender’s participation in Letters of Credit issued; 
 (dd) Indebtedness of the Parent Borrower or any
Restricted Subsidiary to the extent that 100% of such Indebtedness is supported by any Letter of Credit; 

  
 CREDIT AGREEMENT, Page 118 

 (ee) customer deposits and advance payments received in the ordinary course of
business from customers for goods and services purchased in the ordinary course of business; 
 (ff) Indebtedness of the
Parent Borrower or any Restricted Subsidiary under any Ancillary Facility; and 
 (gg) (all premiums (if any), interest (including post-petition interest), fees, prepayment premium and make whole amounts, expenses,
charges and additional or contingent interest on obligations described in clauses (a) through (ff) above. 

Section 6.02 Liens. Such Borrower will not, and will not permit any of its Restricted Subsidiaries to, create, incur, assume or
permit to exist any Lien on any asset now owned or hereafter acquired by it, except: 
 (a) Liens created under the Loan
Documents (including in respect of the Liens securing the Pari Passu Notes Obligations) and the Ancillary Facility Documents; 

(b) Liens imposed by law for taxes, assessments and governmental charges (i) that are not overdue by more than 30 days or,
if more than 30 days overdue, are being contested in a manner consistent with Section 5.04 or (ii) with respect to which the failure to make payment could not reasonably be expected to have a Material Adverse Effect; 

(c) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s and other like
Liens imposed by law, arising in the ordinary course of business and securing obligations (i) that are not overdue by more than 30 days or, if more than 30 days overdue, are being contested in a manner consistent with Section 5.04
or (ii) with respect to which the failure to make payment could not reasonably be expected to have a Material Adverse Effect; 

(d) pledges and deposits made in the ordinary course of business (i) in compliance with workers’ compensation,
health, disability or other employee benefits, unemployment insurance and other social security laws or regulations, property, casualty or liability insurance or premiums related thereto or self insurance obligations or (ii) to secure letters
of credit, bank guarantees or similar instruments posted to support payment of items set forth in the foregoing clause (d)(i); provided that such letters of credit and bank guarantees are issued in compliance with
Section 6.01; 
 (e) Liens securing the performance of, or granted in lieu of, contracts with trade creditors,
contracts (other than in respect of debt for borrowed money), leases, bids, statutory obligations, customs, surety, stay, appeal and performance bonds, performance and completion guarantees and other similar obligations of a like nature, in each
case entered into in the ordinary course of business and deposits securing letters of credit, bank guarantees or similar instruments posted to support payment of the items set forth in this clause (e); provided that (i) such
letters of credit (other than the Letters of Credit), bank guarantees or similar instruments are issued in compliance with Section 6.01 and (ii) the Liens permitted by this clause (e) shall at no time encumber any assets
other than (A) the amount of cash or marketable investments required to be pledged thereunder and (B) with respect to customs and surety bonds, performance bonds, and performance and completion guarantees or similar obligations, the
specific assets in respect to which such bonds or guarantees are issued and which are customarily encumbered under similar bond and guarantee transactions; 

  
 CREDIT AGREEMENT, Page 119 

 (f) Liens in respect of judgments, awards, attachments and/or decrees and notices
of lis pendens and associated rights relating to litigation being contested that do not constitute an Event of Default under clause (j) of Section 8.01; 

(g) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the
ordinary course of business that do not secure any monetary obligations and other minor irregularities in title (including leasehold title), in each case, that do not materially and adversely interfere with the ordinary conduct of business of the
Parent Borrower or any Subsidiary; 
 (h) Liens arising from filing UCC or PPSA (or similar law of any jurisdiction)
financing statements regarding leases and consignment or bailee arrangements permitted or not prohibited by any of the Loan Documents and Liens securing liabilities in respect of indemnification obligations thereunder as long as each such Lien only
encumbers the assets that are the subject of the related lease (or contained in such leasehold) or consignment or bailee; 

(i) any interest or title of a lessor, sublessor, licensee, sublicense, licensor or sublicensor under any lease or license
agreement permitted or not prohibited by any of the Loan Documents and any leases, subleases, licenses or sublicenses granted in the ordinary course of business not interfering in any material respect with the business of the Parent Borrower or any
Restricted Subsidiary; 
 (j) the rights reserved to or vested in any Person by the terms of any lease, license, franchise,
grant or permit held by the Parent Borrower or any of its Restricted Subsidiaries or by a statutory provision to terminate any such lease, license, franchise, grant or permit or to require periodic payments as a condition to the continuance thereof;

 (k) Liens granted in the ordinary course of business to secure: (i) liabilities for premiums or reimbursement
obligations to insurance carriers, (ii) liabilities in respect of indemnification obligations under leases or other Contractual Obligations, and (iii) letters of credit, bank guarantees or similar instruments posted to support payment of
items set forth in this clause (k); provided that (x) such letters of credit, bank guarantees or similar instruments are issued in compliance with Section 6.01, (y) the Liens permitted by clause (k)(iii)
shall at no time encumber any assets other than the amount of cash or marketable investments required to be pledged thereunder and (z) the Liens permitted by clause (k)(i) shall at no time encumber assets other than the unearned portion
of any insurance premiums, the insurance policies and the proceeds thereof; 
 (l) Liens (i) of a collection bank
arising under Section 4–210 of the Uniform Commercial Code on items in the course of collection, (ii) in favor of a banking institution arising as a matter of law encumbering deposits (including the right of set–off),
(iii) arising in connection with pooled deposit or sweep accounts, cash netting, deposit accounts or similar arrangements of the Parent Borrower or any Restricted Subsidiary and consisting of the right to apply the funds held therein to satisfy
overdraft or similar obligations incurred in the ordinary course of business of such Person, (iv) encumbering reasonable customary initial deposits and margin deposits and (v) granted in the ordinary course of business by the Parent
Borrower or any Restricted Subsidiary to any bank with whom it maintains accounts to the extent required by the relevant bank’s (or custodian’s or trustee’s, as applicable) standard terms and conditions (including, without limitation,
any Lien arising by entering into standard banking arrangements (AGB-Banken order AGB-Sparkassen) in Germany), in each case, which are within the general parameters customary in the banking industry; 

  
 CREDIT AGREEMENT, Page 120 

 (m) Liens in favor of a commodity, brokerage or security intermediary who holds a
commodity, brokerage or, as applicable, a security account on behalf of the Parent Borrower or a Restricted Subsidiary provided such Lien encumbers only the related account and the property held therein; 

(n) any Lien on any asset of the Parent Borrower or any Restricted Subsidiary existing on the date hereof and set forth in
Schedule 6.02; provided that (i) such Lien shall not apply to any other property or asset of the Parent Borrower or any Restricted Subsidiary (other than the proceeds and products thereof and accessions thereto, except that
individual financings provided by a Person or its Affiliates may be cross collateralized to other financings provided by such Person or its Affiliates) and (ii) such Lien shall secure only those obligations which it secures on the Effective
Date and obligations not otherwise prohibited under the Loan Documents and amendments, modifications, extensions, renewals and replacements thereof (which, if such obligations constitute Indebtedness, are permitted by Section 6.01); 

(o) any Lien existing on any equipment (including rolling stock), fixtures or real property or any assets subject to the
Indebtedness permitted under clause (f)(ii) of Section 6.01, in each case, prior to the acquisition thereof by the Parent Borrower or any Restricted Subsidiary or existing on any such property or assets of any Person that becomes
a Restricted Subsidiary after the date hereof prior to the time such Person becomes a Restricted Subsidiary; provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a
Restricted Subsidiary, as the case may be, (ii) such Lien shall not apply to any other assets of the Parent Borrower or any Restricted Subsidiary (other than the proceeds or products thereof and after-acquired property subjected to a Lien
pursuant to the terms existing at the time of such acquisition (it being understood that such requirement shall not be permitted to apply to any property to which such requirement would not have applied but for such acquisition)); and
(iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be and any amendments, modifications, extensions, renewals or replacements
thereof and if such obligations (or as applicable, any amendments, modifications, extensions, renewals or replacements thereof) are Indebtedness, such Indebtedness is otherwise permitted by Section 6.01 (it being understood for purposes
of this clause (o) that individual financings provided by a Person or its Affiliates may be cross collateralized to other financings provided by such Person or its Affiliates); 

(p) (i) Liens on specific assets (including rolling stock) acquired, constructed, repaired or improved by the Parent Borrower
or any Restricted Subsidiary (including the interests of vendors and lessors under conditional sale, title retention agreements and extended title retention (verlangenter Eigentumsvorbehalt)); provided that (A) such security
interests secure Indebtedness permitted by clause (f) or clause (v) of Section 6.01, (B) in the case of Indebtedness incurred under Section 6.01(f)(i) such security interests and the Indebtedness
secured thereby are incurred prior to or within 270 days after such acquisition or the completion of such construction, repair or improvement and (C) such security interests shall not apply to any other assets of the Parent Borrower or any
Restricted Subsidiary, and (ii) any amendments, modifications, extensions, renewals or replacements thereof and if such obligations (or as applicable, any amendments, modifications, extensions, renewals or replacements thereof) are
Indebtedness, such Indebtedness is otherwise permitted by Section 6.01 (it being understood for purposes of this clause (p) that individual financings provided by a Person or its Affiliates may be cross collateralized to
other financings provided by such Person or its Affiliates); 

  
 CREDIT AGREEMENT, Page 121 

 (q) Liens in favor of customs and revenue authorities arising as a matter of law
in the ordinary course of business to secure payment of customs duties that (a) are not overdue by more than 30 days or, if more than 30 days overdue, are being contested in a manner consistent with Section 5.04 or (b) with
respect to which the failure to make payment could not reasonably be expected to have a Material Adverse Effect; 
 (r) Liens
(i) (A) on advances of cash or Permitted Investments in favor of the seller of any property to be acquired in an Investment permitted pursuant to Section 6.04 to be applied against the purchase price for such Investment, and
(B) consisting of an agreement to dispose of any property in a Disposition permitted under Section 6.05, in each case, solely to the extent such Investment or Disposition, as the case may be, would have been permitted and
(ii) on cash earnest money deposits made by the Parent Borrower or any Restricted Subsidiary in connection with any letter of intent or purchase agreement permitted hereunder; 

(s) Liens in favor of the Parent Borrower or any Restricted Subsidiary securing Indebtedness permitted under
Section 6.01(d) or other obligations owed to the Parent Borrower or a Restricted Subsidiary; provided that any such Liens encumbering any Collateral shall be subordinated to the Liens of the Administrative Agent on terms and
conditions reasonably satisfactory to the Administrative Agent; 
 (t) Liens that are contractual rights of set-off relating
to purchase orders and other similar agreements entered into in the ordinary course of business; 
 (u) Liens representing
the interest of a purchaser of goods sold by the Parent Borrower or any of its Restricted Subsidiaries in the ordinary course of business under conditional sale, title retention and extended title retention (verlängerter
Eigentumsvorbehalt), consignment, bailee or similar arrangements; provided that such Liens arise only under the applicable conditional sale, title retention, consignment, bailee or similar arrangements and such Liens only encumber the
good so sold thereunder; 
 (v) Liens on repurchase agreements constituting Permitted Investments; 

(w) other Liens securing Indebtedness or other obligations in an aggregate principal amount not to exceed the greater of
$150,000,000 and 3.0% of Consolidated Total Assets at any time outstanding; ); provided, that a Lien securing Indebtedness or other obligations shall be deemed to exist pursuant to this clause (w) in an amount equal to the
aggregate solvency deficits of all Canadian Defined Benefit Plans administered, maintained, participated in or contributed to, by the Canadian Loan Parties, determined by reference to the most recent valuation reports thereof required to be
delivered to the applicable regulators; 
 (x) Liens (i) on Equity Interests in joint ventures (including the Renewable
Diesel Joint Venture) or Unrestricted Subsidiaries; provided such Liens secure capital contributions to, or Indebtedness or other obligations of, such joint venture or Unrestricted Subsidiary, as applicable, (ii) consisting of customary
rights of first refusal and tag, drag and similar rights in joint venture agreements and agreements with respect to non-wholly owned Subsidiaries and (iii) consisting of any encumbrance or restriction (including put and call arrangements) in
favor of a joint venture party with respect to Equity Interests of, or assets owned by, any joint venture or similar arrangement pursuant to any joint venture or similar agreement; 

  
 CREDIT AGREEMENT, Page 122 

 (y) Liens on (i) the Equity Interests of the Renewable Diesel Joint Venture
in favor of the holder of (A) any Indebtedness of the Renewable Diesel Joint Venture, (B) any Guarantee by the Parent Borrower or any Restricted Subsidiary of such Indebtedness otherwise permitted under this Agreement or (C) any
Guarantee by the Parent Borrower or any Restricted Subsidiary of the commitment by the Parent Borrower or any Restricted Subsidiary to make an Investment in the Renewable Diesel Joint Venture permitted to be made under this Agreement and
(ii) cash and cash equivalents to secure (A) obligations of the Parent Borrower or any Restricted Subsidiary to make an Investment in the Renewable Diesel Joint Venture permitted under this Agreement or (B) obligations in respect of a
letter of credit posted to support obligations of the type set forth in the foregoing clause (y)(ii)(A); 
 (z) Liens
on property constituting Collateral of the Loan Parties securing obligations issued or incurred under (i) any Refinancing Notes and the Refinancing Notes Indentures related thereto and any Permitted Refinancing Indebtedness in respect thereof,
(ii) any Refinancing Junior Loans and the Refinancing Junior Loans Agreements and any Permitted Refinancing Indebtedness in respect thereof, in each case, to the extent required by the documentation in respect of such notes or loans, as
applicable and (iii) Incremental Equivalent Debt and any Permitted Refinancing Indebtedness in respect thereof; provided that (x) at the time of incurrence thereof such obligations are permitted to be secured pursuant to the
definitions of Refinancing Notes, Refinancing Junior Loans, Incremental Equivalent Debt or Permitted Refinancing Indebtedness in respect thereof, as applicable, and (y) if applicable, such Indebtedness is subject to customary intercreditor
arrangements reasonably satisfactory to the Administrative Agent; 
 (aa) Liens on the proceeds of Indebtedness incurred in
connection with any transaction permitted hereunder which proceeds have been deposited into an escrow account on customary terms to secure such Indebtedness pending the application of such proceeds to finance such transaction; 

(bb) any Lien arising under clause 24 or clause 25 of the general terms and conditions (algemene bankvoorwaarden) of any
member of the Dutch Bankers’ Association (Nederlandse Vereniging van Banken) or any similar term applied by a financial institution in The Netherlands pursuant to its general terms and conditions; 

(cc) Liens securing Indebtedness permitted pursuant to Section 6.01(y); provided that such Liens are only on
the assets or property described in Section 6.01(y)(ii); 
 (dd) any netting or set-off arrangement entered into
by any Dutch Subsidiary in the ordinary course of its banking arrangements for the purpose of netting debit and credit balances of any Dutch Subsidiary; 

(ee) Liens arising by operation of law or created in order to comply with applicable Requirements of Law, including any
security requested to be created by any creditor of a German Subsidiary in connection with (i) a merger of a German Subsidiary pursuant to Section 22 of the German Reorganization Act (Umwandlungsgesetz) and/or (ii) the
termination of a domination and profit and loss pooling agreement (Beherrschungs – und Gewinnnabführungsvertrag) pursuant to Section 303 of the German Stock Corporation Act (AktG); 

  
 CREDIT AGREEMENT, Page 123 

 (ff) Liens on cash, Permitted Investments or other property arising in connection
with the defeasance, discharge or redemption of Indebtedness; 
 (gg) Liens securing (i) obligations under Swap
Agreements permitted by Section 6.07 and (ii) obligations of the type described in Section 6.01(p) (including, for the avoidance of doubt, any accounts receivables and related security being sold or transferred by a
Borrower or its Restricted Subsidiaries in the ordinary course of business pursuant to any incentive, supplier finance or similar program between such Borrower or Restricted Subsidiary, as supplier or seller, and any finance or other institution a
party thereto, as purchaser); 
 (hh) Liens in favor of a Receivables Subsidiary or a Person that is not a Subsidiary of the
Parent Borrower on Receivables Assets or the Equity Interests of a Receivables Subsidiary, in each case granted in connection with a Receivables Facility solely to secure obligations owing to such Receivables Subsidiary or other Person that is not a
Subsidiary of the Parent Borrower under such Receivables Facility; and 
 (ii) precautionary or purported Liens evidenced by
the filing of UCC financing statements or similar financing statements under applicable Law relating solely to operating leases or consignment or bailee arrangements entered into in the ordinary course of business. 

Section 6.03 Fundamental Changes. Such Borrower will not, nor will it permit any of its Restricted Subsidiaries to, merge into or
amalgamate or consolidate with any other Person, or permit any other Person to merge into or consolidate or amalgamate with it, or liquidate or dissolve, except that: (a) any Subsidiary may merge with the Parent Borrower in a transaction in
which the Parent Borrower is the surviving Person (or in the case of a transitory merger where the surviving Person assumes the Obligations in a manner reasonably acceptable to the Administrative Agent), (b) any Restricted Subsidiary may merge
with any Subsidiary in a transaction in which the surviving entity is a Subsidiary and (x) if any party to such merger is a Domestic Subsidiary Loan Party, the surviving entity is a Domestic Subsidiary Loan Party (or the surviving Person
assumes the Obligations of such non-surviving Domestic Subsidiary Loan Party in a manner reasonably acceptable to the Administrative Agent or such transaction shall constitute an Investment permitted by Section 6.04) and (y) if no
party to such merger is a Domestic Subsidiary Loan Party but any party to such merger is a Foreign Subsidiary Loan Party, the surviving entity is a Foreign Subsidiary Loan Party (or the surviving Person assumes the Obligations of such non-surviving
Foreign Subsidiary Loan Party in a manner reasonably acceptable to the Administrative Agent or such transaction shall constitute an Investment permitted by Section 6.04), (c) any Person may merge into the Parent Borrower in an
Investment permitted by Section 6.04 in which the Parent Borrower is the surviving Person, (d) any Person may merge with a Restricted Subsidiary in an Investment permitted by Section 6.04 in which the surviving entity is
a Subsidiary and (x) if any party to such merger is a Domestic Subsidiary Loan Party, the surviving entity is a Domestic Subsidiary Loan Party (or the surviving Person assumes the Obligations of such non-surviving Domestic Subsidiary Loan Party
in a manner reasonably acceptable to the Administrative Agent or such transaction shall constitute an Investment permitted by Section 6.04) and (y) if no party to such merger is a Domestic Subsidiary Loan Party but any party to such
merger is a Foreign Subsidiary Loan Party, the surviving entity is a Foreign Subsidiary Loan Party (or the surviving Person assumes the Obligations of such non-surviving Foreign Subsidiary Loan Party in a manner reasonably acceptable to the
Administrative Agent or such transaction shall constitute an Investment permitted by Section 6.04); (e) any Subsidiary (other than a 

  
 CREDIT AGREEMENT, Page 124 

 
Borrower) may liquidate or dissolve or change in legal form if the Parent Borrower determines in good faith that such liquidation or dissolution or change in legal form is in the best interests
of the Parent Borrower and is not materially disadvantageous to the Lenders (it being understood that any release and re-taking of any Collateral or Guaranty in connection with such change in legal form is not materially disadvantageous);
(f) in connection with the Disposition of a Subsidiary (other than a Borrower) or its assets permitted by Section 6.05, such Subsidiary may merge with or into any other Person; (g) any Foreign Subsidiary may merge or amalgamate
with a Foreign Borrower or any other Foreign Subsidiary in a transaction in which the Foreign Borrower or such Foreign Subsidiary is the surviving Person (or in the case of a transitory merger where the surviving Person assumes the Obligations of
the Foreign Borrower or such other Foreign Subsidiary in a manner reasonably acceptable to the Administrative Agent) and (h) any merger, amalgamation, consolidation, liquidation or dissolution by the Parent Borrower or its Restricted
Subsidiaries in connection with the consummation of the transactions described in the PWC Steps Memo (or implied thereunder as necessary to implement the transactions described therein) shall be permitted. The Parent Borrower will not, and will not
permit any of its Subsidiaries to, engage to any material extent in any business other than businesses of the type conducted by the Parent Borrower and its Subsidiaries on the date of execution of this Agreement and businesses reasonably related,
complementary or ancillary thereto. 
 Section 6.04 Investments, Loans, Advances, Guarantees and Acquisitions. Such Borrower
will not, and will not permit any of its Restricted Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any Equity Interests in or evidences of
Indebtedness or other securities of, make or permit to exist any loans or advances to, Guarantee any Indebtedness of, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person
constituting a business unit or all or substantially all of the assets of a division or branch of any Person (any one of the actions described in the foregoing provisions of this Section 6.04, herein an “Investment”),
except: 
 (a) Investments in respect of the Rothsay Acquisition (including any intercompany transaction in connection
therewith to permit the Canadian Borrower to pay the purchase price for Rothsay) and the Vion Acquisition (including any intercompany transaction described in the PWC Steps Memo or in connection herewith to permit the Dutch Parent Borrower to pay
the purchase price for the Vion Acquisition); 
 (b) Investments in the form of cash, Permitted Investments and Investments
that were Permitted Investments when such Investments were made; 
 (c) Investments existing on, or contractually committed
as of, the date hereof and set forth on Schedule 6.04 and any modification, replacement, renewal or extension thereof; provided that the amount of the original Investment is not increased except by the terms of such Investment or as
otherwise permitted by this Section 6.04; 
 (d) Investments among the Parent Borrower and its Subsidiaries
(including between or among Subsidiaries and including in connection with the formation of Subsidiaries); provided that the sum of the aggregate amount of Investments by, without duplication, Loan Parties in or for the benefit of Excluded
Subsidiaries (other than the amount of any such Investments that are promptly applied by such Excluded Subsidiary to make substantially contemporaneous Investments in any Loan Party) shall not exceed the greater of $200,000,000 and 7% of
Consolidated Total Assets in the aggregate at any time outstanding; 

  
 CREDIT AGREEMENT, Page 125 

 (e) Guarantees constituting Indebtedness permitted by Section 6.01
and payments thereon or Investments in respect thereof in lieu of such payments; provided that (i) the aggregate principal amount of Indebtedness of Subsidiaries that are not Loan Parties that is Guaranteed by any Loan Party shall be
subject to the limitation set forth in clause (d) above or clauses (s) or (y) below (it being understood that any such Guarantee in reliance upon the reference to such clauses (s) or (y) shall
reduce the amount otherwise available under such clause (s) while such Guarantee is outstanding), (ii) if such Guarantee is by a non-Loan Party, such non-Loan Party would have been able to incur the Guaranteed Indebtedness directly
under Section 6.01 (for the avoidance of doubt, without duplication of the primary and Guaranteed obligations with respect to underlying Indebtedness primary Indebtedness of a non-Loan Party) and (iii) if the Guaranteed Indebtedness
is subordinated the Guarantee of such Indebtedness is subordinated on the same terms; 
 (f) Investments received in
connection with the bankruptcy or reorganization of, or settlement of delinquent accounts or disputes with or judgments against, any Person, or foreclosure or deed in lieu of foreclosure with respect to any Lien held as security for an obligation,
in each case in the ordinary course of business; 
 (g) notes and other non–cash consideration received as part of the
purchase price of assets subject to a Disposition pursuant to Section 6.05; 
 (h) advances or extensions of
trade credit in the ordinary course of business; 
 (i) Investments arising in connection with the Swap Agreements permitted
by Section 6.07; provided that the aggregate amount of Investments by Loan Parties in or for the benefit of Excluded Subsidiaries shall be subject to the limitation set forth in clause (d) above and clause
(s) below (it being understood that any such Investment in reliance upon the reference to such clause (s) shall reduce the amount otherwise available under such clause (s) while such Swap Agreement is outstanding);

 (j) loans and advances to officers, directors, employees, members of management or consultants of the Parent Borrower and
its Restricted Subsidiaries made (i) in the ordinary course of business for travel and entertainment expenses, relocation costs and similar purposes and (ii) in connection with such Person’s purchase of Equity Interests of the Parent
Borrower in an aggregate amount not to exceed $10,000,000 for all such loans and advances in the aggregate at any one time outstanding; 

(k) Asset Swaps consummated in compliance with Section 6.05; 

(l) Parent Borrower or a Restricted Subsidiary may purchase, hold or acquire (including pursuant to a merger, consolidation,
amalgamation or otherwise) at least a majority of the Equity Interests of a Person (including with respect to an Investment in a Restricted Subsidiary or joint venture that serves to increase the Parent Borrower’s or its Restricted
Subsidiaries’ respective ownership of Equity Interests therein (an “Equity Accretive Investment”)) and may purchase or otherwise acquire (in one transaction or a series of transactions) all or substantially all of the assets of
any other Person or all or substantially all of the assets of a division, line of business or branch of such Person, if, with respect to each such acquisition (a “Permitted Acquisition”): 

  
 CREDIT AGREEMENT, Page 126 

 (i) Event of Default. No Event of Default exists or would result therefrom
on the date the definitive agreement for the Permitted Acquisition is entered into by the Parent Borrower and/or the Restricted Subsidiary, as applicable; 

(ii) Total Leverage Ratio; Investment Amounts. On a Pro Forma Basis for such Permitted Acquisition, the Total Leverage
Ratio is less than or equal to 5.50 to 1.00 and the Secured Leverage Ratio is less than or equal to 4.00 to 1.00; 
 (iii)
Non-Guarantors. The total consideration paid for (1) the Capital Stock of any Target that does not become a Subsidiary Loan Party, (2) in the case of an asset acquisition, assets of any Target that are not acquired by a Borrower or
any Subsidiary Loan Party and (3) Equity Accretive Investments in Restricted Subsidiaries that do not in conjunction with such investments become Subsidiary Loan Parties, when taken together with the total consideration for all such Persons and
assets so acquired after the FourthFifth Amendment Date, shall not exceed the sum of (A) the greater of $150,000,000 and 6.0% of Consolidated Total Assets (as reasonably estimated by the Parent Borrower in good faith on the date of the definitive
agreement for such Investment) as of the last day of the most recent four fiscal quarter period for which financial statements have been delivered pursuant to Section 5.01(a) or (b), as applicable, and (B) amounts otherwise
available under clauses (e), (q), (s) and (y) of Section 6.04; provided that the limitation described in this clause (iii) shall not apply to any acquisition to the extent the
Target so acquired (or the Person owning the assets so acquired) becomes a Subsidiary Loan Party even though such Person owns Capital Stock in Persons that are not otherwise required to become Subsidiary Loan Parties, if, in the case of this
clause (iii), not less than 65.0% of the Adjusted EBITDA of the Target(s) acquired in such acquisition (as reasonably estimated by the Parent Borrower in good faith on the date of the definitive agreement for such Investment) is generated by
Person(s) that will become Subsidiary Loan Parties (i.e., disregarding any Adjusted EBITDA generated by Restricted Subsidiaries of such Subsidiary Loan Parties that are not (or will not become) Subsidiary Loan Parties). 

(m) Investments consisting of Indebtedness, Liens, fundamental changes, Dispositions, sale leaseback transactions, Swap
Agreements, Restricted Payments and Affiliate transactions permitted under Sections 6.01, 6.02, 6.03, 6.05, 6.07, 6.08 and 6.09, respectively; 

(n) advances of payroll payments to employees in the ordinary course of business; 

(o) Guarantees by the Parent Borrower and the Restricted Subsidiaries of leases of the Parent Borrower and Restricted
Subsidiaries (other than Capital Lease Obligations) or of other obligations not constituting Indebtedness, in each case entered into in the ordinary course of business and payments thereon or Investments in respect thereof in lieu of such payments;

 (p) Investments (i) consisting of endorsements for collection or deposit, (ii) resulting from pledges and/or
deposits permitted by Sections 6.02(d), 6.02(e), 6.02(k) and 6.02(r) and (iii) consisting of the licensing, sublicensing or contribution of intellectual property pursuant to joint marketing arrangements, in each
case, in the ordinary course of business; 

  
 CREDIT AGREEMENT, Page 127 

 (q) the
making, purchase, holding or other acquisition of Equity InterestsInvestments in Persons who, after giving effect to such Investment will not be a Subsidiary, as long as: 

(i) no Event of Default exists or would result at the time such Investment is committed to be made and no payment or bankruptcy
Event of Default exists or would result at the time such Investment is actually made; and 
 (ii) on a Pro Forma Basis for
such Investment, the Total Leverage Ratio is less than or equal to 5.50 to 1.00 and the Secured Leverage Ratio is less than or equal to 4.00 to 1.00; 

(r) the Parent Borrower may serve as an account party under a letter of credit or provide cash collateral to support
obligations of Insurance Company of Colorado, Inc. as long as such support is required by, and is in the amount required by, applicable insurance regulations; 

(s) in addition to the Investments otherwise permitted by this Section 6.04, the Parent Borrower and the Restricted
Subsidiaries may make Investments in an aggregate amount not to exceed the greater of $150,000,000 and 3% of Consolidated Total Assets at any time outstanding; 

(t) (i) any Investments in any Subsidiary or joint venture in connection with intercompany cash management arrangements or
related activities arising in the ordinary course of business; provided that any entity that serves to hold cash balances received from Loan Parties is a Loan Party within the time frames required by this Agreement and (ii) Investments
by the Parent Borrower in any Subsidiary or joint venture to enable it to obtain cash management and similar arrangements described in Section 6.01(p); 

(u) Investments in respect of the Renewable Diesel Joint Venture in the form of (i) a Guarantee (or Guarantees) permitted
by Section 6.01(w), (ii) Liens permitted by Section 6.02(y) and (iii) Investments of cash or Permitted Investments in an amount not to exceed
$275,000,000375,000,000 at any time outstanding; it being understood that the Parent Borrower and its Restricted Subsidiaries may also invest cash or Permitted Investments to satisfy obligations referred to in clause (i) of
this clause (u); provided that as of the date of any such Investment and after giving effect thereto no Event of Default shall exist or result therefrom; 

(v) any acquisition of assets or Equity Interests solely in exchange for, or out of the net cash proceeds received from, the
substantially contemporaneous issuance of Equity Interests (other than Disqualified Equity Interests) of the Parent Borrower; 

(w) endorsements of negotiable instruments and documents in the ordinary course of business; 

(x) Investments made in connection with the funding of contributions under any non-qualified retirement plan or similar
employee compensation plan in an amount not to exceed the amount of compensation expense recognized by the Parent Borrower and its Restricted Subsidiaries in connection with such plans; 

  
 CREDIT AGREEMENT, Page 128 

 (y) in addition to the Investments otherwise permitted by this
Section 6.04, the Parent Borrower and its Restricted Subsidiaries may make an Investment (i) at any time after the date hereof in an amount equal to the amount that, together with the aggregate amount of all other Investments made
after the date hereof by the Parent Borrower and its Restricted Subsidiaries pursuant to this Section 6.04(y)(i), the aggregate amount of all Restricted Payments made by the Parent Borrower and its Restricted Subsidiaries pursuant to
Section 6.08(a)(ix) and the aggregate amount of all payments or distributions made by the Parent Borrower and its Restricted Subsidiaries pursuant to Section 6.08(b)(v) after the date hereof, shall not exceed the Available
Amount and (ii) make additional Investments; provided that if, on a Pro Forma Basis, the Total Leverage Ratio is greater than 4.50 to 1.00 or the Secured Leverage Ratio is greater than 4.00 to 1.00, then the aggregate amount of
Investments made pursuant to this Section 6.04(y)(ii) shall not exceed 25% of the Consolidated Net Income of the Parent Borrower and its Restricted Subsidiaries for the immediately preceding fiscal year; 

(z) Investments in any Subsidiary that is not a Loan Party in an amount required to permit such Subsidiary to consummate a
Permitted Acquisition or other Investment permitted hereunder substantially contemporaneously with the receipt by such Subsidiary of the proceeds of such Investment; 

(aa) Investments (i) in subsidiaries in connection with reorganizations and related to tax planning; provided that,
after giving effect to any such reorganization and/or related activity, the security interest of the Administrative Agent in the Collateral, taken as a whole, is not materially impaired and (ii) by any Loan Party in any non-Loan Party
consisting of the contribution of Equity Interests of any Person that is not a Loan Party; 
 (bb) (i) Investments of any
Restricted Subsidiary acquired after the Closing Date, or of any Person acquired by, or merged into or consolidated or amalgamated with the Parent Borrower or any Restricted Subsidiary after the Closing Date, in each case as part of an Investment
otherwise permitted by this Section 6.04 to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger, amalgamation or consolidation and were in existence on the date of the
relevant acquisition, merger, amalgamation or consolidation and (ii) any modification, replacement, renewal or extension of any Investment permitted under clause (i) of this Section 6.04(bb) so long as no such
modification, replacement, renewal or extension thereof increases the amount of such Investment except as otherwise permitted by this Section 6.04; 

(cc) Investments made in joint ventures or non-wholly-owned Subsidiaries as required by, or made pursuant to, buy/sell
arrangements between the joint venture parties set forth in joint venture agreements and similar binding arrangements arising in the ordinary course of business; provided that if, on a Pro Forma Basis, the Total Leverage Ratio is greater than
5.50 to 1.00 or the Secured Leverage Ratio is greater than 4.00 to 1.00, then the aggregate amount of Investments made pursuant to this Section 6.04(cc) shall not exceed $50,000,000; 

(dd) Investments made by any Restricted Subsidiary that is not a Subsidiary Loan Party with the proceeds received by such
Person from an Investment made by the Parent Borrower or any Subsidiary Loan Party in such Person under this Section 6.04; 

(ee) Investments (i) constituting deposits, prepayments and/or other credits to suppliers, (ii) made in connection
with obtaining, maintaining or renewing client and customer contracts and/or (iii) in the form of advances made to distributors, suppliers, licensors and licensees, in each case, in the ordinary course of business; 

  
 CREDIT AGREEMENT, Page 129 

 (ff) de minimis Investments made in connection with the incorporation or
formation of any newly created Subsidiary of the Parent Borrower; and 
 (gg) customary Investments in connection with any
Receivables Facility. 
 For purposes of this Section 6.04 the amount of any Investment shall be the initial amount invested without regard to
increase or decreases in value, write ups, write offs or write downs but after giving effect to all payments or repayments of, or returns on, such Investment. 

Notwithstanding anything to the contrary contained herein, if any Person (including the Renewable Diesel Joint Venture but excluding any Borrower) in which an
Investment is made pursuant to clause (q) or clause (u) above subsequently becomes or is deemed to be a Subsidiary of the Parent Borrower but is less than wholly owned, then at the option of the Parent Borrower, such Person
shall be deemed to have been simultaneously designated by the Parent Borrower as an Unrestricted Subsidiary without regard to the requirements set forth in clause (d) above and the definition of “Unrestricted Subsidiary”. Any
Investment in such Person on the date of such designation shall not be deemed to have utilized any other amounts available under clause (d) above solely as a result of such deemed designation. Any Investment in such Person after the date
of such designation shall be subject to compliance with this Section 6.04. 
 Section 6.05 Asset Sales. Such
Borrower will not, and will not permit any of its Restricted Subsidiaries to, sell, transfer, lease or otherwise dispose of any asset, including any Equity Interest owned by it (each such sale, transfer, lease or other disposition herein a
“Disposition”), nor will the Parent Borrower permit any of the Restricted Subsidiaries to issue any additional Equity Interest in such Subsidiary (other than the issuance of directors’ qualifying or similar shares required to
be held by specific Persons under applicable law) except: 
 (a) Dispositions of inventory (including on an intercompany
basis), vehicles, obsolete, used, worn-out or surplus assets or property no longer useful to the business of such Person or economically impracticable to maintain and Permitted Investments in the ordinary course of business; 

(b) Dispositions by any Restricted Subsidiary of assets (upon voluntary liquidation or otherwise) to the Parent Borrower or to
any Restricted Subsidiary; provided that if the transferor in such a transaction is a Subsidiary Loan Party, then either (i) the transferee must be a Loan Party or (ii) such transfer must be for fair market value or be treated as an
Investment permitted by Section 6.04; 
 (c) Dispositions of property subject to or resulting from casualty
losses and condemnation proceedings (including in lieu thereof or any similar proceedings); 
 (d) Asset Swaps;
provided that if the Total Leverage Ratio or Secured Leverage Ratio as of the end of the most recent fiscal quarter for which financial statements were required to be delivered under Section 5.01(a) or (b), is more than
5.50 to 1.00 or 4.00 to 1.00, respectively, then the net effect of such Asset Swap shall not require the Parent Borrower or applicable Restricted Subsidiary to make a cash payment of more than the greater of $25,000,000 and 1.0% of Consolidated
Total Assets to the counterparty in connection with such Asset Swap; 

  
 CREDIT AGREEMENT, Page 130 

 (e) Dispositions in connection with any sale-leaseback or similar transaction;
provided that the fair market value of all property so disposed of shall not exceed the greater of $20,000,000 and 0.5% of Consolidated Total Assets from and after the Effective Date; 

(f) Dispositions permitted by Sections 6.02 (and of the Liens thereunder), 6.03 (so long as any Disposition
pursuant to a liquidation permitted pursuant to Section 6.03 shall be done on a pro rata basis among the equity holders of the applicable Subsidiary), 6.04, 6.07 and 6.08; 

(g) the issuance of Equity Interests by a Restricted Subsidiary to the Parent Borrower or to another Restricted Subsidiary (and
each other equity holder ratably according to their interests) and which, to the extent constituting an Investment, is permitted by Section 6.04; 

(h) (i) Dispositions of Investments and accounts receivable (together with any and all other rights and intangibles
related thereto) in the ordinary course of business (including, without limitation, in the case of any accounts receivable, in connection with any incentive, supplier finance or other similar program, and, in the case of both Investments and
accounts receivable, in connection with the collection, settlement or compromise thereof (including in any situation of a work-out or financial distress, in each case, of the Person owing such accounts receivable)) or (ii) any surrender or
waiver of contract rights pursuant to a settlement, release, recovery on or surrender of contract, tort or other claims of any kind; 

(i) Dispositions in the ordinary course of business consisting of (i) the abandonment of intellectual property which, in
the reasonable good faith determination of the Parent Borrower, is not material to the conduct of the business of the Parent Borrower and Subsidiaries and (ii) licensing, sublicensing and cross-licensing arrangements involving any technology or
other intellectual property or general intangibles of the Parent Borrower or its Subsidiaries; 
 (j) Dispositions of
residential real property and related assets in the ordinary course of business in connection with relocation activities for directors, officers, members of management, employees or consultants of the Loan Parties; 

(k) terminations of Swap Agreements; 

(l) Dispositions identified to the Administrative Agent and the Lenders in writing on or prior to the Effective Date; 

(m) Dispositions of the Capital Stock of, or the assets or securities of, Unrestricted Subsidiaries; 

(n) Dispositions of the Investments entered into under the permissions of Section 6.04(q); 

(o) other Dispositions; provided that: (i) the Net Proceeds of such Disposition shall be delivered to the Administrative Agent for repayment of the Term
Loansapplied in compliance with Section 2.11(c),
(ii) no Default exists on the date on which the definitive agreement governing the relevant Disposition is executed and (iii) with respect to any Disposition pursuant to this clause (o) for a purchase price in excess of the
greater of (x) $20,000,000 and (y) 1.0% of Consolidated Total Assets at least 75% of the consideration shall be Cash or Cash Equivalents; 

  
 CREDIT AGREEMENT, Page 131 

 
provided that for purposes of the 75.0% Cash consideration requirement (w) the amount of any Indebtedness or other liabilities (other than Indebtedness or other liabilities that are
subordinated to the Obligations or that are owed to the Parent Borrower or a Restricted Subsidiary) of the Parent Borrower or any applicable Restricted Subsidiary (as shown on such Person’s most recent balance sheet or in the notes thereto)
that are assumed by the transferee of any such assets and for which the Parent Borrower and its Restricted Subsidiaries shall have been validly released by all relevant creditors in writing, (x) the amount of any trade-in value applied to the
purchase price of any replacement assets acquired in connection with such Disposition, (y) any Securities received by the Parent Borrower or any Restricted Subsidiary from such transferee that are converted by such Person into cash or Permitted
Investments (to the extent of the cash or Permitted Investments received) within 180 days following the closing of the applicable Disposition and (z) any Designated Non-Cash Consideration received in respect of such Disposition having an
aggregate fair market value, taken together with all other Designated Non-Cash Consideration received pursuant to this clause (z) that is at that time outstanding, not in excess of the greater of $50,000,000 and 1.5% of Consolidated
Total Assets of the Parent Borrower, as of the last day of the most recently ended period of four fiscal quarters for which financial statements have been delivered pursuant to Section 5.01(a) or (b), as applicable, in each case,
shall be deemed to be cash; 
 (p) Dispositions of property to the extent that (i) such property is exchanged for credit
against the purchase price of similar replacement property or (ii) the proceeds of such Disposition are promptly applied to the purchase price of such replacement property; 

(q) Dispositions of Investments in joint ventures (including the Renewable Diesel Joint Venture) to the extent required by, or
made pursuant to, buy/sell arrangements between the joint venture parties set forth in the joint venture agreement or similar binding agreements entered into with respect to such Investment in such joint venture; 

(r) the expiration of any option agreement with respect to real or personal property; 

(s) repurchases of Equity Interests deemed to occur upon the exercise of stock options, warrants or other convertible
securities if such Equity Interests represent (i) a portion of the exercise price thereof or (ii) withholding incurred in connection with such exercise; 

(t) leases, subleases, licenses or sublicenses of property in the ordinary course of business; 

(u) Dispositions of non-core assets (which may include real property) acquired in an acquisition permitted under this Agreement
to the extent such Disposition was consummated within two years of such acquisition; 
 (v) other Dispositions in an
aggregate amount not to exceed $20,000,000; 
 (w) Dispositions of letters of credit and/or bank guarantees (and/or the
rights thereunder) to banks or other financial institutions in the ordinary course of business in exchange for cash and/or Permitted Investments; 

(x) Dispositions in connection with the consummation of the transactions described in the PWC Steps Memo (or implied thereunder
as necessary to implement the transactions described therein); 

  
 CREDIT AGREEMENT, Page 132 

 (y) any sale of motor vehicles and information technology equipment purchased at
the end of an operating lease and resold thereafter; and 
 (z) Dispositions of Receivables Assets to a Receivables
Subsidiary or a Person that is not a Subsidiary of the Parent Borrower in connection with any Receivables Facility; 
 provided that all Dispositions
permitted pursuant to clauses (e), (o) and (u) above shall be made for fair value and all Dispositions permitted pursuant to clauses (e), (o) (to the extent required thereunder) and
(u) above shall be made for at least 75% cash consideration; 
 provided further that that any sale leaseback transaction that is
consummated substantially simultaneously with a Permitted Acquisition or similar Investment and relates to assets acquired in such Permitted Acquisition or similar Investment shall not be restricted by this Section 6.05 and shall not
constitute a Disposition. 
 Section 6.06 [Reserved]. 

Section 6.07 Swap Agreements. The Parent Borrower will not, and will not permit any of its Restricted Subsidiaries to, enter into
any Swap Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks to which the Parent Borrower or any Restricted Subsidiary has actual or potential exposure (other than those in respect of Equity Interests of the Parent
Borrower or any of its Restricted Subsidiaries), including to hedge or mitigate foreign currency risks and (b) Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one
floating rate to another floating rate or otherwise) with respect to any interest–bearing liability or Investment of the Parent Borrower or any Restricted Subsidiary. 

Section 6.08 Restricted Payments; Certain Payments of Indebtedness. (a) The Parent Borrower will not, nor will it permit any
of its Restricted Subsidiaries to, declare or make any Restricted Payment, except: 
 (i) such Person may declare and make
Restricted Payments with respect to its Equity Interests payable solely in additional shares of its Equity Interests; 
 (ii)
Restricted Subsidiaries may declare and pay dividends with respect to their Equity Interests (provided that if such Restricted Subsidiary is not wholly-owned by the Parent Borrower, such dividends must be made to the holders of its Equity
Interests ratably according to their interests) and, solely with respect to Subsidiaries organized in Germany, may make other payments in accordance with domination and profit and loss pooling agreements (Beherrschungs – und
Ergebnisabführungsverträge) within the meaning of Section 291 of the German Stock Corporation Act (AktG) as well as distribute profits and compensate losses in connection therewith; 

(iii) to the extent constituting Restricted Payments, the Parent Borrower and its Restricted Subsidiaries may enter into
transactions expressly permitted by Sections 6.03, 6.04, 6.05 or 6.09; 
 (iv) repurchases by
Parent Borrower of partial interests in its Equity Interests for nominal amounts which are required to be repurchased in connection with the exercise of stock options or warrants to permit the issuance of only whole shares of Equity Interests; 

  
 CREDIT AGREEMENT, Page 133 

 (v) the Parent Borrower may pay for the repurchase, retirement or other
acquisition or retirement for value of Equity Interests of the Parent Borrower (including related stock appreciation rights or similar securities) held by any future, present or former director, officer, member of management, employee or consultant
of the Parent Borrower or any of its Subsidiaries (or the estate, heirs, family members, spouse, former spouse, domestic partner or former domestic partner of any of the foregoing); provided that (A) at the time of any such repurchase,
retirement or other acquisition or retirement for value no Default exists or would result, (B) the aggregate amount of Restricted Payments made under this clause (v) in any fiscal year does not exceed (x) $10,000,000 (the
“Yearly Limit”) plus (y) the portion of the Yearly Limit from each of the immediately preceding four fiscal years (not including any fiscal year ending prior to 2010) which was not expended by Parent Borrower for
Restricted Payments in such fiscal years (the “Carryover Amount” and in calculating the Carryover Amount for any fiscal year, the Yearly Limit applicable to the previous fiscal years shall be deemed to have been utilized first by
any Restricted Payments made under this clause (v) in such fiscal year) plus (z) an amount equal to the cash proceeds from the sale of Equity Interests to directors, officers, members of management, employees or consultants
of the Parent Borrower or of its Subsidiaries (or the estate, heirs, family members, spouse or former spouse of any of the foregoing) in such fiscal year; 

(vi) the repurchase of Equity Interests of the Parent Borrower that occurs upon the cashless exercise of stock options,
warrants or other convertible securities as a result of the Parent Borrower accepting such options, warrants or other convertible securities as satisfaction of the exercise price of such Equity Interests; 

(vii) such Parent Borrower and its Subsidiaries may make any Restricted Payment in connection with the Rothsay Acquisition as
contemplated by the Rothsay Acquisition Agreement or in connection with the Vion Acquisition as contemplated by the Vion Acquisition Agreement and in connection with the consummation of the transactions described in the PWC Steps Memo and any
actions necessary to implement such transactions; 
 (viii) repurchase of Equity Interests deemed to occur upon the non-cash
exercise of Equity Interests to pay taxes; 
 (ix) the Parent Borrower and its Restricted Subsidiaries may make Restricted
Payments in an aggregate amount that, together with (A) the aggregate amount of all other Restricted Payments made by the Parent Borrower and its Restricted Subsidiaries pursuant to this Section 6.08(a)(ix) after the date hereof,
(B) the aggregate amount of all Investments made by the Parent Borrower and its Restricted Subsidiaries pursuant to Section 6.04(y)(i) after the date hereof and (C) the aggregate amount of all payments or distributions made by
the Parent Borrower and its Restricted Subsidiaries pursuant to Section 6.08(b)(v) after the date hereof, shall not exceed the Available Amount; provided that (x) as of the date of any such Restricted Payment and after giving
effect thereto no Default shall exist or would result therefrom or (y) no Default shall exist or would result therefrom on the date of declaration of such Restricted Payment and such Restricted Payment is made within 60 days of such
declaration; provided further that solely for purposes of this Section 6.08(a)(ix), in no event shall more than $300,000,000 in Restricted Payments be made with the Available Amount pursuant to this
Section 6.08(a)(ix); 

  
 CREDIT AGREEMENT, Page 134 

 (x) the Parent Borrower may make additional Restricted Payments; provided
that (A) (x) as of the date of any such Restricted Payment and after giving effect thereto, no Default shall exist or would result therefrom or (y) no Default shall exist or would result therefrom as of the date of declaration of such
Restricted Payment and such Restricted Payment is made within 60 days of such declaration and (B) if the Total Leverage Ratio on a Pro Forma Basis is greater than 4.50 to 1.00 or the Secured Leverage Ratio on a Pro Forma Basis is greater than
3.00 to 1.00, then the aggregate amount of Restricted Payments made under this clause (x) in respect of a fiscal year (including the Restricted Payment in question) shall not at any time exceed 25% of the Consolidated Net Income of the
Parent Borrower and its Restricted Subsidiaries for the immediately preceding fiscal year. 
 (b) Such Borrower will not, nor
will it permit any of its Restricted Subsidiaries to, make any payment in respect of any purchase, redemption, retirement, acquisition, cancellation or termination of any Subordinated Indebtedness or the NewExisting Senior Unsecured Notes (including any refinancing or replacement thereof) having an individual outstanding principal amount in excess of $25,000,000 (such Indebtedness, collectively, “Restricted
Indebtedness”), or any other payment or other distribution (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of any Restricted Indebtedness, except: 
 (i) replacements, refinancings, amendments, supplements,
modifications, extensions, renewals, restatements or refunding of Restricted Indebtedness to the extent permitted by Section 6.01; 

(ii) (A) payments or other distributions on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of Restricted Indebtedness, in each case in exchange for, or out of the net proceeds of, the substantially concurrent sale of Equity Interests (other than Disqualified Equity Interests) of the Parent Borrower (it being understood such
amounts will not increase the Available Amount), or (B) the conversion of any Restricted Indebtedness to Equity Interests (other than Disqualified Equity Interests); 

(iii) payments or other distributions on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of Restricted Indebtedness, in an aggregate amount not to exceed the greater of $25,000,000 and 1% of Consolidated Total Assets; provided that (x) (1) at the time of any such payment or other distribution, no Default
shall have occurred and be continuing or would result therefrom or (2) no Default shall exist or would result therefrom on the date such Person provides notice of such payment or distribution and such payment or distribution shall be made
within 90 days of such notice and (y) after giving effect thereto, the Parent Borrower is in compliance, on a Pro Forma Basis, with the Financial Covenants; 

(iv) payments or other distributions on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of Restricted Indebtedness if, on a Pro Forma Basis, the Secured Leverage Ratio is less than 4.00 to 1.00; 

  
 CREDIT AGREEMENT, Page 135 

 (v) payments or other distributions on account of the purchase, redemption,
retirement, acquisition, cancellation or termination of Restricted Indebtedness, in an aggregate amount that, together with (A) the aggregate amount of all other such payments or other distributions made by the Parent Borrower and its
Restricted Subsidiaries pursuant to this Section 6.08(b)(v) after the date hereof, (B) the aggregate amount of all other Restricted Payments made by the Parent Borrower and its Restricted Subsidiaries pursuant to
Section 6.08(a)(ix) after the date hereof and (C) the aggregate amount of all Investments made by the Parent Borrower and its Restricted Subsidiaries pursuant to Section 6.04(y)(i) after the date hereof, shall not exceed
the Available Amount; provided that (x) as of the date of such payment or distribution and after giving effect thereto no Default shall exist or result therefrom or (y) no Default shall exist or would result therefrom on the date
such Person provides notice of such payment or distribution and such payment or distribution shall be made within 90 days of such notice; and 

(vi) payment-in-kind interest with respect to Restricted Indebtedness permitted by this Agreement; 

(vii) payments or distributions on account of intercompany Subordinated Indebtedness not prohibited by the terms of this
Agreement; and 
 (viii) payments as part of an “applicable high yield discount obligation” catch-up payment with
respect to Restricted Indebtedness permitted by this Agreement. 
 Notwithstanding the foregoing, the making of any dividend, payment or other distribution
or the consummation of any irrevocable redemption within 60 days after the date of declaration of such dividend, payment or other distribution or giving of the redemption notice, as applicable, will not be prohibited if, at the date of declaration
or notice such dividend, payment or other distribution or redemption would have complied with the terms of this Agreement. For the avoidance of doubt, the Parent Borrower and its Restricted Subsidiaries may make regularly scheduled payments of
principal and payments of interest, fees, expenses and indemnification or similar obligations in respect of Restricted Indebtedness when due, and in the case of Subordinated Indebtedness, to the extent not prohibited by the subordination provisions
thereof (if applicable). 
 Section 6.09 Transactions with Affiliates. Such Borrower will not, nor will it permit any of its
Restricted Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates involving
aggregate payments, for any such transaction or series of related transactions, in excess of $5,000,000, except: 
 (a)
transactions that are at prices and on terms and conditions not less favorable to such Borrower or such Restricted Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, 

(b) transactions between or among the Loan Parties not involving any other Affiliate, 

(c) any Restricted Payment permitted by Section 6.08, 

(d) the payment of reasonable and customary fees and expenses to directors of such Borrower and the other Restricted
Subsidiaries and the provision of customary indemnification to directors, officers, employees, members of management and consultants of the Parent Borrower and the Subsidiaries, 

  
 CREDIT AGREEMENT, Page 136 

 (e) sales or issuances of Equity Interests to Affiliates of the Parent Borrower
which are otherwise permitted or not restricted by the Loan Documents, 
 (f) loans and other transactions by and among such
Borrower and/or the Subsidiaries to the extent permitted under this Article VI, 
 (g) the consummation of and the
payment of all fees, expenses, bonuses and awards related to the Original Transactions, 
 (h) transactions with joint
ventures (including the Renewable Diesel Joint Venture) for the purchase or sale of goods and services entered into in the ordinary course of business, 

(i) employment and severance arrangements (including options to purchase Equity Interests of the Parent Borrower, restricted
stock plans, long-term incentive plans, stock appreciation rights plans, participation plans or similar employee benefits plans) between such Borrower and any Restricted Subsidiary and their directors, officers, employees, members of management and
consultants in the ordinary course of business, 
 (j) the existence of, and the performance of obligations of such Borrower
or any of its Restricted Subsidiaries under the terms of any agreement to which such Borrower or any of its Restricted Subsidiaries is a party as of or on the Effective Date and identified on Schedule 6.09, as these agreements may be amended,
restated, amended and restated, supplemented, extended, renewed or otherwise modified from time to time; provided, however, that any future amendment, restatement, amendment and restatement, supplement, extension, renewal or other
modification entered into after the Effective Date will be permitted to the extent that its terms are not more disadvantageous to the Lenders than the terms of the agreements on the Effective Date, 

(k) any agreement between any Person and an Affiliate of such Person existing at the time such Person is acquired by or merged
into such Borrower or its Restricted Subsidiaries pursuant to the terms of this Agreement; provided that such agreement was not entered into in contemplation of such acquisition or merger, or any amendment thereto (so long as any such
amendment is not disadvantageous to the Lenders in any material respect in the good faith judgment of the Parent Borrower when taken as a whole as compared to such agreement as in effect on the date of such acquisition or merger), 

(l) transactions in which such Borrower or any of its Restricted Subsidiaries delivers to the Administrative Agent an opinion
or appraisal issued by an independent accounting, appraisal or investment banking firm of national standing that the terms of such transaction are not materially less favorable than those that might reasonably have been obtained by such Borrower or
such Restricted Subsidiary in a comparable transaction at such time on an arm’s length basis from a Person that is not an Affiliate, and 

(m) transactions effected with any Receivables Subsidiary
as part of a Receivables Facility transaction. 

  
 CREDIT AGREEMENT, Page 137 

 Section 6.10 Restrictive Agreements. Such Borrower will not, nor will it permit any
of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of such Borrower or any of its Restricted
Subsidiaries to create, incur or permit to exist any Lien upon any of its property or assets in favor of the Administrative Agent (or its agent or designee) for the benefit of the Secured Parties securing any of the Obligations, or (b) the
ability of any Restricted Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make or repay loans or advances to such Borrower or any other Restricted Subsidiary or to Guarantee the Obligations or
any part thereof; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by law, rule, regulation or order or by any Loan Document,
NewExisting Senior Unsecured Notes Document, Pari Passu Notes Document, Ancillary Facilities Document or document governing any Swap Obligations, Deposit Obligations, Refinancing Notes or any Refinancing Junior Loans,
(ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof, (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to Dispositions permitted by
Section 6.05 pending such Dispositions, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such
restrictions or conditions apply only to the property or assets securing such Indebtedness or the Persons obligated thereon, (v) clause (a) of the foregoing shall not apply to customary provisions in leases and other contracts
restricting the assignment, subletting or other transfer thereof (including the granting of any Lien), (vi) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by restrictions on cash and other deposits
or net worth provisions in leases and other agreements entered into in the ordinary course of business, (vii) the foregoing shall not apply if such restrictions and conditions were binding on a Restricted Subsidiary or its assets at the time
such Restricted Subsidiary first becomes a Restricted Subsidiary or such assets were first acquired by such Restricted Subsidiary (other than a Restricted Subsidiary that was a Restricted Subsidiary on the Effective Date or assets owned by any
Restricted Subsidiary on the Effective Date), so long as such Contractual Obligations were not entered into solely in contemplation of such Person becoming a Restricted Subsidiary or assets being acquired, (viii) clause (a) of the
foregoing shall not apply to Liens permitted by this Agreement, (ix) the foregoing shall not apply to customary provisions in partnership agreements, limited liability company governance documents, joint venture agreements and other similar
agreements (including those with respect to the Renewable Diesel Joint Venture) that restrict the transfer of assets of, or ownership interests in, the relevant partnership, limited liability company, joint venture or similar Person,
(x) clause (b) of the forgoing shall not apply to restrictions or conditions imposed by any agreement relating to Indebtedness incurred by non-Loan Parties permitted by this Agreement, (xi) clause (b) of the
foregoing shall not apply to provisions in agreements or instruments which prohibit the payment of dividends or the making of other distributions with respect to any class of Equity Interests of a Person other than on a pro rata basis,
(xii) the foregoing shall not apply to issuances of Disqualified Equity Interests, preferred Equity Interests, Incremental Equivalent Debt or Indebtedness incurred pursuant to Section 6.01(v) or (x), (xiii) the foregoing
shall not apply to customary prohibitions, restrictions
anand conditions contained in agreements related to a Receivables Facility, and (xiv) the foregoing shall not apply to any restrictions and conditions imposed by any amendment, modification, restatement, renewal,
increase, supplement, refunding, replacement or refinancing of any contract, instrument or obligation referred to in clauses (i) through (xii) above; provided that such amendment, modification, restatement, renewal,
increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the Parent Borrower, no more restrictive with respect to such restrictions taken as a whole than those in existence prior to such amendment, modification,
restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

  
 CREDIT AGREEMENT, Page 138 

 Section 6.11 Amendment of Material Debt Documents. The Parent Borrower will not, nor
will it permit any Restricted Subsidiary to, amend, modify or waive any of its rights under Restricted Indebtedness (other than intercompany Indebtedness among the Parent Borrower and/or any of its Restricted Subsidiaries) in any manner materially
adverse to the interest of the Lenders taken as a whole that has not been approved by the Administrative Agent; provided that it is understood and agreed that the foregoing limitation shall not prohibit any Permitted Refinancing Indebtedness
in respect thereof or any other replacement, refinancing, amendment, supplement, modification, extension, renewal, restatement or refunding of any Restricted Indebtedness, in each case, that is otherwise permitted by Section 6.01. 

Section 6.12 Change in Fiscal Year. The Parent Borrower will not change the manner in which either the last day of its fiscal year
or the last day of each of the first three fiscal quarters of its fiscal year is calculated, in each case, without the prior written consent of the Administrative Agent. 

ARTICLE VII 
 Financial
Covenants 
 Solely with respect to the Revolving Facility and Term A Facility, until the Date of Full Satisfaction (solely with respect
to the Revolving Facility and the Term A Facility), the Parent Borrower covenants and agrees with the Lenders that: 
 Section 7.01
Interest Coverage Ratio. As of the last day of each fiscal quarter commencing with the first full fiscal quarter following the Fourth Amendment Date, the Parent Borrower shall not permit the Interest Coverage Ratio to be less than 3.00 to
1.00. 
 Section 7.02 Total Leverage Ratio. As of the last day of each fiscal quarter commencing with the first full fiscal
quarter following the Fourth Amendment Date, the Parent Borrower shall not permit the Total Leverage Ratio to exceed 5.50 to 1.00. 

Section 7.03 [Reserved]. 

ARTICLE VIII 
 Events of
Default 
 Section 8.01 Events of Default; Remedies. If any of the following events (“Events of Default”)
shall occur: 
 (a) any Borrower shall fail to pay any principal of any Loan when and as the same shall become due and
payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; or any Borrower shall fail to pay any reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, and
such failure with respect to such reimbursement obligations shall continue unremedied for a period of three days; 
 (b) any
Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause (a) of this Section 8.01) payable under this Agreement or any other Loan Document, when and as the
same shall become due and payable, and such failure shall continue unremedied for a period of five days; 

  
 CREDIT AGREEMENT, Page 139 

 (c) any representation, warranty or certification made or deemed made by or on
behalf of any Borrower or any Restricted Subsidiary in or in connection with any Loan Document, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Loan Document, shall prove to have
been materially inaccurate when made or deemed made; 
 (d) any Borrower shall fail to observe or perform any covenant,
condition or agreement contained in Sections 5.02(a) or in Article VI or in Article VII of this Agreement; provided any default under Sections 7.01 and/or 7.02 (a “Financial Covenant Event of
Default”) shall not constitute an Event of Default with respect to any Loans or Commitments hereunder, other than the Revolving Loans, Term A Loans, Revolving Commitments and Term A Commitments, until the date on which the Revolving Loans
and Term A Loans (if any) have been accelerated, and the Revolving Commitments and Term A Commitments (if any) have been terminated, in each case, by the Required TLA/RC Lenders; 

(e) any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in any Loan Document (other
than those specified in clause (a), (b) or (d) of this Section 8.01), and such failure shall continue unremedied for a period of 30 days after written notice thereof from the Administrative Agent to the
Parent Borrower; 
 (f) any Borrower or any Restricted Subsidiary shall fail to make any payment in respect of any Material
Indebtedness, when and as the same shall become due and payable beyond any applicable grace period, or any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits,
after giving effect to any applicable notice or grace period (which notice has been given or grace period has expired), the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material
Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity and such failure, event or condition shall not have been waived or cured before the Commitments are terminated
and Loans accelerated; provided that this clause (f) shall not apply to (i) secured Indebtedness that becomes due as a result of the Disposition (including as a result of a casualty or condemnation event) of the property or
assets securing such Indebtedness, (ii) Guarantees of Indebtedness that are satisfied promptly on demand or (iii) with respect to Indebtedness incurred under any Swap Agreement, termination events or equivalent events pursuant to the terms
of the relevant Swap Agreement which are not the result of any default thereunder by any Loan Party or any Restricted Subsidiary; 

(g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation,
reorganization or other relief in respect of any Borrower or any Restricted Subsidiary (other than an Immaterial Subsidiary) or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency,
receivership, arrangement or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Borrower or any Restricted Subsidiary (other than an Immaterial
Subsidiary) or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed, undischarged or unbonded for 60 consecutive days or an order or decree approving or ordering any of the foregoing
shall be entered; 

  
 CREDIT AGREEMENT, Page 140 

 (h) any Borrower or any Restricted Subsidiary (other than an Immaterial
Subsidiary) shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership, arrangement or similar law now or
hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (g) of this Section 8.01, (iii) apply for or consent to
the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Borrower or any such Restricted Subsidiary (other than an Immaterial Subsidiary) or for a substantial part of its assets, (iv) file an
answer admitting the material allegations of a petition filed against it in any such proceeding, or (v) make a general assignment for the benefit of creditors; 

(i) any Borrower or any Restricted Subsidiary (other than an Immaterial Subsidiary) shall become unable, admit in writing its
inability or fail generally to pay its debts as they become due; 
 (j) one or more judgments for the payment of money in an
aggregate amount in excess of the Threshold Amount (to the extent not covered by insurance or indemnity as to which the insurer or indemnitor has not denied coverage) shall be rendered against any Borrower, any Restricted Subsidiary or any
combination thereof and there is a period of 60 consecutive days during which a stay of enforcement of such judgment by reason of a pending appeal, payment or otherwise is not in effect; 

(k) (i) an ERISA Event shall have occurred, (ii) a Canadian Loan Party fails to make a required contribution to or
payment under any Canadian Benefit Plan when due or (iii) with respect to any Canadian Defined Benefit Plan, the occurrence of any Canadian Pension Termination Event; and in each case in clauses (i) through (iii) above,
such event or condition, together with all other such events or conditions, if any, could reasonably be expected to result in a Material Adverse Effect; 

(l) other than with respect to items of Collateral with a book not exceeding $25,000,000 in the aggregate, any Lien purported
to be created under any Security Document shall cease to be, or shall be asserted in writing by any Loan Party not to be, a valid and perfected Lien on any Collateral, except (i) in connection with a release of such Collateral in accordance
with the terms of this Agreement or (ii) as a result of the Administrative Agent’s failure to (A) maintain possession of any stock certificates, promissory notes or other instruments delivered to it under the Security Documents or
(B) file Uniform Commercial Code continuation statements or PPSA renewal statements or amendments; 
 (m) any of this
Agreement or the Guaranty Agreement (other than in respect of an Immaterial Subsidiary) shall for any reason cease to be in full force and effect in accordance with its terms after its date of execution, or any Borrower or any other Loan Party shall
so state in writing, in each case other than in connection with a release of any Guarantee in accordance with the terms of this Agreement; or 

(n) a Change in Control shall occur; 

then, and in every such event (other than an event with respect to any Borrower described in clause (g) or (h) of this
Section 8.01), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Parent 

  
 CREDIT AGREEMENT, Page 141 

 
Borrower, take either or both of the following actions, at the same or different times: (i) terminate the Commitments and commitments with respect to any Ancillary Facility, and thereupon
the Commitments and commitments with respect to any Ancillary Facility shall terminate immediately, and (ii) declare the Loans then outstanding and the obligations under any Ancillary Facility then outstanding to be due and payable in whole (or
in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans and the obligations under any Ancillary Facility then outstanding so declared to
be due and payable, together with accrued interest thereon and all fees and other obligations of any Borrower accrued hereunder, shall become due and payable immediately, without presentment, demand, protest, notice of intent to accelerate, notice
of acceleration or other notice of any kind, all of which are hereby waived by each Borrower; and in case of any event with respect to any Borrower described in clause (g) or (h) of this Section 8.01, the
Commitments shall automatically terminate and the principal of the Loans then outstanding and the obligations under any Ancillary Facility then outstanding, together with accrued interest thereon and all fees and other obligations of any Borrower
accrued hereunder, shall automatically become due and payable, without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other notice of any kind, all of which are hereby waived by each Borrower. In addition, if
any Event of Default shall occur and be continuing, the Administrative Agent may (and if directed by the Required Lenders, shall) foreclose or otherwise enforce any Lien granted to the Administrative Agent, for the benefit of the Secured Parties, to
secure payment and performance of the Obligations in accordance with the terms of the Loan Documents and exercise any and all rights and remedies afforded by applicable law, by any of the Loan Documents, by equity, or otherwise. 

Notwithstanding the foregoing, during any period during which solely a Financial Covenant Event of Default has occurred and is continuing, the
Administrative Agent may with the consent of, and shall at the request of, the Required TLA/RC Lenders take any of the foregoing actions described in the immediately preceding paragraph solely as they relate to the Revolving Lenders and Term A
Lenders (versus the Lenders), the Revolving Commitments and Term A Commitments (versus the Commitments), the Revolving Loans, the Swingline Loans and the Term A Loans (versus the Loans), and the Letters of Credit. 

Section 8.02 Performance by the Administrative Agent. If any Loan Party shall fail to perform any covenant or agreement in
accordance with the terms of the Loan Documents which constitutes an Event of Default, the Administrative Agent may, at the direction of the Required Lenders, perform or attempt to perform such covenant or agreement on behalf of the applicable Loan
Party. In such event, each Borrower shall, at the request of the Administrative Agent promptly pay any amount expended by the Administrative Agent or the Lenders in connection with such performance or attempted performance to the Administrative
Agent, together with interest thereon at the interest rate provided for in Section 2.13(c) from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is
expressly agreed that neither the Administrative Agent nor any Lender shall have any liability or responsibility for the performance of any obligation of any Loan Party under any Loan Document. 

Section 8.03 Adjustment for Ancillary Facilities. 

(a) If a notice is served by the Administrative Agent in accordance with the third to last paragraph of
Section 8.01 or any event with respect to a Borrower described in Section 8.01(g) or (h) occurs and is continuing (the “Ancillary Facility Adjustment Date”), each Revolving Lender and each Ancillary
Lender shall promptly adjust (by making or receiving (as the case may be) corresponding transfers of rights and obligations under the Loan Documents 

  
 CREDIT AGREEMENT, Page 142 

 
relating to Revolving Outstandings) their claims in respect of the Revolving Loans and participations in Letters of Credit and any amounts outstanding to them under each Ancillary Facility to the
extent necessary to ensure that after such transfers, the Revolving Outstandings of each Revolving Lender bear the same proportion to the aggregate Revolving Outstandings of all the Lenders as such Lender’s Revolving Exposure bears to the
aggregate Revolving Exposure of all the Lenders, each as of such Ancillary Facility Adjustment Date. 
 (b) If an amount
outstanding under an Ancillary Facility is a contingent liability and that contingent liability becomes an actual liability or is reduced to zero after the original adjustment is made under paragraph (a) above, then each Revolving Lender
and Ancillary Lender will make a further adjustment (by making or receiving (as the case may be) corresponding transfers of rights and obligations under the Loan Documents relating to Revolving Outstandings to the extent necessary) to put themselves
in the position they would have been in had the original adjustment been determined by reference to the actual liability or, as the case may be, zero liability and not the contingent liability. 

(c) Any transfer of rights and obligations relating to Revolving Outstandings made pursuant to this Section 8.03
shall be made for a purchase price in cash, payable at the time of transfer, in an amount equal to those Revolving Outstandings. 

(d) All calculations to be made pursuant to this Section 8.03 shall be made by the Administrative Agent based upon
information provided to it by the Revolving Lenders and Ancillary Lenders and the Administrative Agent’s Spot Rate. 
 ARTICLE IX

 The Administrative Agent 

Section 9.01 Appointment. Each of the Lenders and the Issuing Bank hereby irrevocably appoints JPMorgan Chase Bank, N.A. as agent
on its behalf, and on behalf of each of its Affiliates who are owed Obligations (each such Affiliate by acceptance of the benefits of the Loan Documents hereby ratifying such appointment) and authorizes the Administrative Agent to take such actions
on its behalf and on behalf of such Affiliates and to exercise such powers as are delegated to the Administrative Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. 

Section 9.02 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 such Person and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the
Parent Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent hereunder. 
 Section 9.03
Limitation of Duties and Immunities. The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent
shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise in writing by the Required Lenders (or such other number or 

  
 CREDIT AGREEMENT, Page 143 

 
percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.02), and (c) except as expressly set forth in the Loan Documents, the
Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Parent Borrower or any of its Subsidiaries that is communicated to or obtained by the Person serving as
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 with the consent or at the request of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary under the circumstances as provided in Section 10.02) or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall not be deemed to have knowledge of any Default unless
and until written notice thereof is given to the Administrative Agent by the Parent Borrower or a Lender, and 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 any Loan Document, (ii) the contents of any certificate, report or other document delivered thereunder or in connection therewith, (iii) the performance or observance of any of the covenants,
agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any
condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. Other than in the case of a sub-agency delegation as set forth in
Section 9.05, in no event shall the Administrative Agent (in its capacity as such) be obligated to ascertain, monitor or inquire as to whether any Person is a Disqualified Institution or have any liability with respect to or arising out
of any assignment or participation of Commitments or Loans by the Lenders or disclosure of confidential information by the Issuing Banks or Lenders, in each case, to any Disqualified Institution. 

Section 9.04 Reliance on Third Parties. 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 believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent also may rely upon any
statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrowers),
independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

Section 9.05 Sub-Agents. The Administrative Agent may perform any and all its duties and exercise its rights and powers by or
through any one or more sub-agents appointed by the Administrative Agent (other than a Disqualified Institution or an Affiliate thereof). The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and
powers through their respective Related Parties. The exculpatory provisions of this Article IX 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. 

Section 9.06 Successor Agent. Subject to the appointment and acceptance of a successor to the Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the Issuing Bank and the Borrowers. Upon any such resignation, the Required Lenders shall have the right to appoint a successor, subject to the consent of the
Parent Borrower (which consent shall not be unreasonably withheld); provided that the Parent Borrower’s consent shall not be required if a payment or bankruptcy Event of Default exists. If no successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within 30 days after the retiring 

  
 CREDIT AGREEMENT, Page 144 

 
Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent which
shall be a bank with an office in New York, New York, or an Affiliate of any such bank, subject to the consent of the Parent Borrower (which consent shall not be unreasonably withheld); provided that the Parent Borrower’s consent shall
not be required if a payment or bankruptcy Event of Default exists. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges
and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder (other than with respect to its obligations under Section 10.12). The fees payable by
any Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrowers and such successor. After the Administrative Agent’s resignation hereunder, the provisions of
this Article IX and Section 10.03 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 it was acting as Administrative Agent. Notwithstanding anything to the contrary herein, no Disqualified Institution (nor any Affiliate thereof) may be appointed as a successor Administrative Agent or any agent in any other capacity. 

Section 9.07 Independent Credit Decisions. Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and
without reliance upon the Administrative Agent or any other Lender 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 related agreement or any document furnished hereunder or thereunder. 
 Section 9.08 Other
Agents. Neither the Documentation Agents nor the Syndication Agents shall have any duties or responsibilities hereunder in their capacity as such. Goldman Sachs Bank USA and Bank of Montreal, acting under its trade name BMO Capital Markets are
hereby each appointed a Syndication Agent hereunder and each entity named as a Documentation Agent in the preamble to this Agreement is hereby each appointed Documentation Agent hereunder, and each Lender hereby authorizes such entities to act as
Syndication Agent or to act as Documentation Agent, as applicable, in accordance with the terms of this Agreement and the other Loan Documents. The Syndication Agent or any Documentation Agent, without consent of or notice to any party hereto, may
assign any and all of its rights or obligations hereunder to any of its Affiliates. As of the Effective Date, neither the entities set forth in this paragraph above in their capacity as Syndication Agent or Documentation Agent, as applicable, shall
have any obligations but shall be entitled to all benefits of this Article IX, Section 10.03 and the last paragraph of Section 10.01. Any Syndication Agent or Documentation Agent may resign from such role at any time,
with immediate effect, by giving prior written notice thereof to the Administrative Agent and the Parent Borrower. The provisions of this Article IX (other than in the case of Section 9.01, 9.06, 9.10 and
9.13) are solely for the benefit of the Administrative Agent, each Syndication Agent, each Documentation Agent and Lenders and no Loan Party shall have any rights as a third party beneficiary of any of the provisions thereof (other than with
respect to Section 9.01, 9.06, 9.10 and 9.13 as to which the Loan Parties shall have the benefit and the right to enforce). As of the
FourthFifth Amendment Date, the provisions of this Section 9.08 shall also apply for the benefit of the entities named as Syndication Agents and Documentation Agents on the cover hereto pursuant to the FourthFifth Amendment. 

  
 CREDIT AGREEMENT, Page 145 

 Section 9.09 Powers and Immunities of Issuing Bank. Neither the Issuing Bank nor any
of its Related Parties shall be liable to the Administrative Agent or any Lender for any action taken or omitted to be taken by any of them hereunder or otherwise in connection with any Loan Document except for its or their own gross negligence or
willful misconduct. Without limiting the generality of the preceding sentence, the Issuing Bank (a) shall have no duties or responsibilities except those expressly set forth in the Loan Documents, and shall not by reason of any Loan Document be
a trustee or fiduciary for any Lender or for the Administrative Agent, (b) shall not be required to initiate any litigation or collection proceedings under any Loan Document, (c) shall not be responsible to any Lender or the Administrative
Agent for any recitals, statements, representations, or warranties contained in any Loan Document, or any certificate or other documentation referred to or provided for in, or received by any of them under, any Loan Document, or for the value,
validity, effectiveness, enforceability, or sufficiency of any Loan Document or any other documentation referred to or provided for therein or for any failure by any Person to perform any of its obligations thereunder, (d) may consult with
legal counsel (including counsel for the Borrowers), independent public accountants, and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such
counsel, accountants, or experts, and (e) shall incur no liability under or in respect of any Loan Document by acting upon any notice, consent, certificate, or other instrument or writing believed by it to be genuine and signed or sent by the
proper party or parties. As to any matters not expressly provided for by any Loan Document, the Issuing Bank shall in all cases be fully protected in acting, or in refraining from acting, hereunder in accordance with instructions signed by the
Required Lenders, and such instructions of the Required Lenders and any action taken or failure to act pursuant thereto shall be binding on all of the Lenders and the Administrative Agent; provided, however, that the Issuing Bank shall not be
required to take any action which exposes it to personal liability or which is contrary to any Loan Document or applicable law. 

Section 9.10 Permitted Release of Collateral and Subsidiary Loan Parties. 

(a) Automatic Release. If any Collateral is the subject of a Disposition (other than to another Loan Party) which is
permitted under Section 6.05, the Liens in the Collateral granted under the Loan Documents shall automatically terminate and the Collateral will be disposed of free and clear of all such Liens. 

(b) Written Release. The Administrative Agent is authorized to release of record, and shall release of record, any Liens
encumbering any Collateral that is the subject of a Disposition described in clause (a) above upon an authorized officer of the Parent Borrower certifying in writing to the Administrative Agent that the proposed Disposition of Collateral
is permitted under Section 6.05. To the extent the Administrative Agent is required to execute any release documents in accordance with the immediately preceding sentence, the Administrative Agent shall do so promptly upon request of the
Parent Borrower without the consent or further agreement of any Secured Party. If the Disposition of Collateral is not permitted under or pursuant to the Loan Documents, the Liens encumbering the Collateral may only be released in accordance with
the other provisions of this Section 9.10 or the provisions of Section 10.02. 
 (c) Other
Authorized Release and Subordination. The Administrative Agent is irrevocably authorized by the Secured Parties, without any consent or further agreement of any Secured Party to: (i) subordinate or release the Liens granted to the
Administrative Agent to secure the Obligations with respect to any property which is permitted to be subject to a Lien of the type described in clauses (d) (to the extent such property constitutes cash or Permitted Investments),
(e), (g), (h), (i), (j), (k), (l), (m), (n), (o), (p), (r)(i)(A), (r)(ii), (u), (v), (w) (to the

  
 CREDIT AGREEMENT, Page 146 

 
extent such Lien arises in connection with Indebtedness permitted by clause (h), or, if utilized for Indebtedness of the type specified in clause (f) or (h) of
Section 6.01, (v) of Section 6.01),
(x) or, (y), (aa), (ff), (gg) or (hh)
of Section 6.02, (ii) release the Administrative Agent’s Liens upon the Date of Full Satisfaction, (iii) release and/or modify the Administrative Agent’s Liens on the Collateral of the Foreign Subsidiary Loan Parties
on or after the Pari Passu Notes Repayment Date so that such Liens only secure the Foreign Obligations and (iv) release the Foreign Subsidiary Loan Parties from their guarantee of the Obligations (other than the Foreign Obligations) on and
after the Pari Passu Notes Repayment Date; provided that any subordination or release of property pursuant to clause (i) above in reliance on Section 6.02(w) shall be limited to property which may secure Indebtedness
of the type specified in Section 6.01(f), or property securing Indebtedness permitted under or of the type permitted under Section 6.01(h) as of the date of the acquisition of the Person owning such property; provided
further that if as of the date of the requested release under clause (i) or, solely with regard to the condition in clause (A), clause (iii) above: (A) any Borrower is subject to a proceeding of the type
described in clauses (g) or (h) of Section 8.01, or (B) the Administrative Agent is applying the proceeds of Collateral in accordance with Section 2.18(f), then the Administrative Agent shall not
release its Liens until the Date of Full Satisfaction. 
 (d) Authorized Release of Subsidiary Loan Party. If
the Administrative Agent shall have received a certificate of a Responsible Officer of the Parent Borrower requesting the release of a Subsidiary Loan Party, certifying that the Administrative Agent is authorized to release such Subsidiary Loan
Party because either: (1) the Equity Interest issued by such Subsidiary Loan Party or the assets of such Subsidiary Loan Party have been disposed of to a non-Loan Party in a transaction permitted by Section 6.05 (or with the consent
of the Required Lenders pursuant to Section 10.02(b)) or (2) such Subsidiary Loan Party has been designated as an Unrestricted Subsidiary in accordance with the designation provisions of the definition of the term “Unrestricted
Subsidiary”; provided that no such release shall occur if such Subsidiary Loan Party continues to be a guarantor in respect of any NewExisting Senior Unsecured Notes, Incremental Equivalent Debt, Refinancing Notes or any
Refinancing Junior Loans of any Loan Party or any Permitted Refinancing of any of the foregoing; 
 then the Administrative Agent is irrevocably
authorized by the Secured Parties, without any consent or further agreement of any Secured Party to release the Liens granted to the Administrative Agent to secure the Obligations in the assets of such Subsidiary Loan Party and release such
Subsidiary Loan Party from all obligations under the Loan Documents. To the extent the Administrative Agent is required to execute any release documents in accordance with the immediately preceding sentence, the Administrative Agent shall do so
promptly upon request of the Parent Borrower without the consent or further agreement of any Secured Party; and 
 (e) the
Administrative Agent is authorized to enter into any intercreditor agreement contemplated hereby with respect to Indebtedness that is (i) required or permitted to be subordinated hereunder and/or (ii) secured by Liens and which
Indebtedness contemplates an intercreditor, subordination or collateral trust agreement (any such intercreditor agreement, an “Additional Agreement”), and the parties hereto acknowledge that any Additional Agreement is binding upon
them. Each Lender and Issuing Bank (a) hereby agrees that it will be bound by, and will not take any action contrary to, the provisions of any Additional Agreement and (b) hereby authorizes and instructs the Administrative Agent to enter
into any Additional Agreement and to subject the Liens on the Collateral securing the Obligations to the provisions thereof. The foregoing provisions are intended as an inducement to the Secured Parties to extend credit to the Borrowers, and the
Secured Parties are intended third-party beneficiaries of such provisions and the provisions of any Additional Agreement. 

  
 CREDIT AGREEMENT, Page 147 

 Section 9.11 Perfection by Possession and Control. The Administrative Agent hereby
appoints each of the other Lenders to serve as bailee to perfect the Administrative Agent’s Liens in any Collateral (other than deposit, securities or commodity accounts) in the possession of any such other Lender and each Lender possessing any
such Collateral agrees to so act as bailee for the Administrative Agent in accordance with the terms and provisions hereof. 

Section 9.12 Lender Affiliates Rights. By accepting the benefits of the Loan Documents, any Affiliate of a Lender that is owed any
Obligation is bound by the terms of the Loan Documents. But notwithstanding the foregoing: (a) neither the Administrative Agent, any Lender nor any Loan Party shall be obligated to deliver any notice or communication required to be delivered to
any Lender under any Loan Documents to any Affiliate of any Lender; and (b) no Affiliate of any Lender that is owed any Obligation shall be included in the determination of the Required Lenders or entitled to consent to, reject, or participate
in any manner in any amendment, waiver or other modification of any Loan Document. The Administrative Agent shall not have any liabilities, obligations or responsibilities of any kind whatsoever to any Affiliate of any Lender who is owed any
Obligation. The Administrative Agent shall deal solely and directly with the related Lender of any such Affiliate in connection with all matters relating to the Loan Documents. The Obligation owed to such Affiliate shall be considered the Obligation
of its related Lender for all purposes under the Loan Documents and such Lender shall be solely responsible to the other parties hereto for all the obligations of such Affiliate under any Loan Document. 

Section 9.13 Actions in Concert. Notwithstanding anything contained in any of the Loan Documents, each Borrower, the
Administrative Agent and each Lender hereby agree that (A) no Lender shall have any right individually to realize upon any of the Collateral under any Security Documents or to enforce the guarantee set forth in the Guaranty Agreement, it being
understood and agreed that all powers, rights and remedies under the Guaranty Agreement and the other Security Documents may be exercised solely by the Administrative Agent for the benefit of the Secured Parties in accordance with the terms thereof
and (B) in the event of a foreclosure by the Administrative Agent on any of the Collateral pursuant to a public or private sale, the Administrative Agent or any Lender may be the purchaser of any or all of such Collateral at any such sale and
the Administrative Agent, as agent for and representative of the Lenders (but not any Lender or Lenders in its or their respective individual capacities unless the Required Lenders shall otherwise agree in writing), shall be entitled, for the
purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold in any such public sale, to use and apply any of the Obligations as a credit on account of the purchase price for any Collateral
payable by the Administrative Agent at such sale. 
 Section 9.14 Certain Canadian Matters. For greater certainty, and without
limiting the powers of the Administrative Agent or any other person acting as an agent, attorney-in-fact or mandatory for the Administrative Agent under this Agreement or under any of the other Loan Documents, and for the purposes of holding any
security granted by a Borrower or any other Loan Party pursuant to the laws of the Province of Quebec to secure payment of any bond issued by a Borrower or any Loan Party, each Lender hereby irrevocably appoints and authorizes the Administrative
Agent to act as the person holding the power of attorney (i.e. “fondé de pouvoir”) (in such capacity, the “Attorney”) of the Lenders as contemplated under Article 2692 of the Civil Code of Québec, and
to enter into, to take and to hold on its behalf, and for its benefit, any hypothec, and to exercise such powers and duties that are conferred upon the Attorney under any hypothec. Moreover, without prejudice to such appointment and authorization to

  
 CREDIT AGREEMENT, Page 148 

 
act as the person holding the power of attorney as aforesaid, each Lender hereby irrevocably appoints and authorizes the Administrative Agent (in such capacity, the “Custodian”)
to act as agent and custodian for and on behalf of the Lenders to hold and be the sole registered holder of any bond which may be issued under any hypothec, the whole notwithstanding Section 32 of An Act respecting the special powers of legal
persons (Quebec) or any other applicable law, and to execute all related documents. Each of the Attorney and the Custodian shall: (a) have the sole and exclusive right and authority to exercise, except as may be otherwise specifically
restricted by the terms hereof, all rights and remedies given to the Attorney and the Custodian (as applicable) pursuant to any hypothec, bond, pledge, applicable laws or otherwise, (b) benefit from and be subject to all provisions hereof with
respect to the Administrative Agent mutatis mutandis, including, without limitation, all such provisions with respect to the liability or responsibility to and indemnification by the Lenders, and (c) be entitled to delegate from time to
time any of its powers or duties under any hypothec, bond, or pledge on such terms and conditions as it may determine from time to time. Any person who becomes a Lender shall, by its execution of an Assignment and Assumption, be deemed to have
consented to and confirmed: (i) the Attorney as the person holding the power of attorney as aforesaid and to have ratified, as of the date it becomes a Lender, all actions taken by the Attorney in such capacity, and (ii) the Custodian as
the agent and custodian as aforesaid and to have ratified, as of the date it becomes a Lender, all actions taken by the Custodian in such capacity. The Substitution of the Administrative Agent pursuant to the provisions of this Article 8 shall also
constitute the substitution of the Attorney and the Custodian. 
 ARTICLE X 

Miscellaneous 

Section 10.01 Notices. Except in the case of notices and other communications expressly permitted to be given by telephone or other
means, all notices and other communications provided for herein shall be in writing and (to the extent permitted by the applicable notice provision) shall be delivered by hand or overnight courier service, mailed by certified or registered mail or
sent by telecopy or email, as follows: 
 (i) if to the Parent Borrower or any other Loan Party, to it at 251 O’Connor
Ridge Boulevard, Suite 300, Irving, Texas 75038, Attention of John O. Muse, Chief Financial Officer, (Telecopy No.: 972.281.4449); email: JMuse@darlingii.com, with a copy to Brad Phillips, Vice President and Treasurer (Telecopy: 972.281.4449);
email: bphillips@darlingii.com. 
 (ii) if to the Administrative Agent, for notice regarding a Multicurrency Revolving Loan,
to J.P. Morgan Europe Limited, Loans Agency, 6th Floor, 25 Bank Street, Canary Wharf, London, El 4 5JP, Attention: Loans. Agency; Fax: +44 (0)207 777 2360; email: loan_and_agency_london@jpmorgan.com. 

(iii) if to the Administrative Agent, for any other notice herein (other than updates to the list of Disqualified
Institutions), to JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 10 S. Dearborn – IL1-0010, Chicago, IL 60603; attention: Sherese Cork; Telephone: 312.732.4843; Telecopy: 888-303-9732; email: jpm.agency.servicing.1@jpmchase.com with
a copy to JPMorgan Chase Bank, N.A., 2200 Ross Avenue, Third Floor, Dallas, Texas 75201, Attention: Gregory T. Martin, Telephone: 214.965.2171; Telecopy: 214.965.2044; email: gregory.t.martin@jpmorgan.com. 

  
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 (iv) if to the Administrative Agent, for any update to the list of Disqualified
Institutions: to JPMDQ_Contact@jpmorgan.com, with a copy (which shall not constitute notice) to the contacts set forth in clause (ii) above. 

(v) if to any other Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire. 

Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communications pursuant to procedures approved by the
Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender. Each of the Administrative Agent or each Borrower may,
in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or
communications. Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the
provisions of this Agreement shall be deemed to have been given on the date of receipt. 
 Each Loan Party understands that the distribution of material
through an electronic medium is not necessarily secure and that there are confidentiality and other risks associated with such distribution and agrees and assumes the risks associated with such electronic distribution, except to the extent caused by
the gross negligence, bad faith or willful misconduct of, or a material breach of any obligations under the Loan Documents by, any agent hereunder, as determined by a final, non-appealable judgment of a court of competent jurisdiction. The Platform
and any Approved Electronic Communications are provided “as is” and “as available” and none of the agents party hereto nor any of their Related Parties warrant the accuracy, adequacy, or completeness of the Approved Electronic
Communications or the Platform and each expressly disclaims liability for errors or omissions in the Platform and the Approved Electronic Communications. No warranty of any kind, express, implied or statutory, including any warranty of
merchantability, fitness for a particular purpose, non-infringement of third party rights or freedom from viruses or other code defects is made by the agents party hereto nor any of their Related Parties in connection with the Platform or the
Approved Electronic Communications. 
 Section 10.02 Waivers; Amendments. 

(a) No Waiver; Rights Cumulative. No failure or delay by the Administrative Agent, the Issuing Bank or any Lender in
exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or
power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and
are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by
paragraph (b) of this Section 10.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan
or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or the Issuing Bank may have had notice or knowledge of such Default at the time.

  
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(b) Amendments. Neither this Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or modified except (i) pursuant to an Incremental
Assumption Agreement executed in accordance with the terms and conditions of Section 2.20 and (ii) in the case of this Agreement and any circumstance other than as described in clause (i) pursuant to an agreement or
agreements in writing entered into by or with the consent of the Borrowers and the Required Lenders or, in the case of any other Loan Document, pursuant to an agreement or agreements in writing entered into by the Administrative Agent and the Loan
Party or Loan Parties that are parties thereto in each case with the consent of the Required Lenders; provided that no such agreement shall, (A) without the written consent of each Lender directly and adversely affected thereby (but not
the Required Lenders) (1) increase the Commitment of any Lender (it being understood that a waiver of any condition precedent in Section 4.01, Section 4.03 or Section 4.04 or the waiver of any Default, Event
of Default, mandatory prepayment or mandatory reduction of the Commitments shall not be an increase of a Commitment of any Lender), (2) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon (other
than interest accruing pursuant to Section 2.13(c) or a waiver thereof), extend the scheduled date of any interim amortization of any Loan or reduce any fees payable hereunder, (it being understood that any change to the definition of
“Total Leverage Ratio” or in the component definitions thereof shall not constitute a reduction in the rate of interest or fees thereon), (3) postpone the scheduled date of payment of any interest on any Loan or LC Disbursement (other
than interest accruing pursuant to Section 2.13(c) or a waiver thereof), or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, (4) postpone the final scheduled date of payment of the principal
amount of any Loan or LC Disbursement, (5) postpone the scheduled date of expiration of any Commitment (it being understood that a waiver of any condition precedent in Section 4.01, Section 4.03 or
Section 4.04 or the waiver of any Default or Event of Default, mandatory prepayment or mandatory reduction of the Commitments shall not be an extension of a Commitment of any Lender), or (6) change the currency in which any Loan or
Commitment of any Lender is denominated without the written consent of such Lender (it being understood that designations of additional Alternative Currencies in accordance with the definition thereof shall not constitute a change of currency for
purposes of this clause (6)), (B) waive any condition precedent in Section 4.03 without the consent of the Required TLB Lenders and (C) without the written consent of each Lender (1) change any of the provisions of
this Section or the definition of “Required Lenders,”, “Required TLA/RC Lenders” or “Required TLB Lenders” (or for the avoidance of doubt any provision that requires the consent of all Lenders or all directly affected
Lenders) (2) release all or substantially all of the value of the Guarantees of the Obligations by the Subsidiary Loan Parties (it being understood that the Foreign Collateral Reallocation shall not be deemed a release of Guarantees),
(3) release all or substantially all of the Collateral from the Liens of the Security Documents (it being understood that (A) the determination that any assets acquired after the Effective Date shall not constitute Collateral and
(B) the Foreign Collateral Reallocation, in each case, shall not be deemed a release of Collateral) or (4) change Section 2.18(b), (c) or (f) in a manner that would alter the pro rata sharing of payments
required thereby (except that modifications to such pro rata sharing provisions in connection with (x) loan buy back or similar programs, (y) “amend and extend” transactions or (z) adding one or more tranches of Loans (which
may but are not required to be new money tranches of Loans), which, in each case, shall only require the written consent of the Required Lenders and each Lender participating in such transaction); provided further that (1) no such
agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Issuing Bank or the Swingline Lender without the prior written consent of the Administrative Agent, the Issuing Bank or the Swingline Lender, as
the case may be, and (2) notwithstanding the terms of clause  

  
 CREDIT AGREEMENT, Page 151 

 (ii) above, any waiver, amendment or modification of this Agreement that by its terms
affects the rights or duties under this Agreement of the Revolving Lenders and/or the Term A Lenders (but not the Term B Lenders) or the Term B Lenders (but not the Revolving Lenders and/or the Term A Lenders) may be effected by an agreement or
agreements in writing entered into by the Borrowers and requisite percentage in interest of the affected Class of Lenders. 

Notwithstanding anything in this Agreement (including, without limitation, this Section 10.02(b)) or any other Loan Document to
the contrary, (i) this Agreement and the other Loan Documents may be amended to effect an incremental facility or refinancing facility pursuant to Section 2.20 or 2.22 (and the Administrative Agent and the Borrowers may
effect such amendments to this Agreement and the other Credit Documents without the consent of any other party as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Parent Borrower, to effect the terms of
any such incremental facility or refinancing facility); (ii) no Lender consent is required to effect any amendment or supplement to any intercreditor agreement or arrangement permitted under this Agreement that is for the purpose of adding the
holders of any Indebtedness as expressly contemplated by the terms of such intercreditor agreement or arrangement permitted under this Agreement, as applicable (it being understood that any such amendment or supplement may make such other changes to
the applicable intercreditor agreement as, in the good faith determination of the Administrative Agent, are required to effectuate the foregoing and provided that such other changes are not adverse, in any material respect, to the interests
of the Lenders); provided, further, that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder or under any other Loan Document without the prior written consent of the
Administrative Agent; (iii) any provision of this Agreement or any other Loan Document may be amended by an agreement in writing entered into by the Borrowers and the Administrative Agent to cure any ambiguity, omission, mistake, defect or
inconsistency and such amendment shall be deemed approved by the Lenders if the Lenders shall have received at least five (5) Business Days’ prior written notice of such change and the Administrative Agent shall not have received, within
five (5) Business Days of the date of such notice to the Lenders, a written notice from the Required Lenders stating that the Required Lenders object to such amendment; and (iv) guarantees, collateral documents and related documents
executed by Loan Parties in connection with this Agreement may be in a form reasonably determined by the Administrative Agent and may be, together with any other Loan Document, entered into, amended, supplemented or waived, without the consent of
any other person, by the applicable Loan Party or Loan Parties and the Administrative Agent in its sole discretion, to (A) effect the granting, perfection, protection, expansion or enhancement of any security interest in any Collateral or
additional property to become Collateral for the benefit of the Secured Parties, (B) as required by local law to give effect to, or protect any security interest for the benefit of the Secured Parties, in any property or so that the security
interests therein comply with applicable requirements of law, or (C) to cure ambiguities, omissions, mistakes or defects or to cause such guarantee, collateral security document or other document to be consistent with this Agreement and the
other Loan Documents. 
 Notwithstanding the foregoing, only the consent of the Required TLA/RC Lenders shall be required to (and only the
Required TLA/RC Lenders shall have the ability to) waive, amend, supplement or modify the covenants set forth in Sections 7.01, 7.02 and 7.03 (including any defined terms as they relate thereto). 

Section 10.03 Expenses; Indemnity; Damage Waiver. 

(a) Expenses. Each Borrower shall pay, within 30 days of a written demand therefor (together with reasonable backup
documentation supporting such reimbursement request), (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its

  
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Affiliates, including the reasonable fees, charges and disbursements of counsel (limited to one primary counsel for the Administrative Agent and the Lenders, taken as a whole, and one additional
counsel in each relevant material jurisdiction), in connection with the syndication of the credit facilities provided for herein, the preparation, execution, delivery and administration of the Loan Documents or any amendments, modifications or
waivers of the provisions thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), in connection with the enforcement or protection of its rights in connection with the Loan Documents, including its rights under
this Section 10.03, or in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any
workout, restructuring or negotiations in respect of such Loans or Letters of Credit; (ii) all reasonable out-of-pocket expenses incurred by the Issuing Bank in
connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, the Issuing Bank or any Lender, including the
fees, charges and disbursements of counsel (limited to one counsel to the Administrative Agent and the Lenders, taken as a whole, one additional counsel in each jurisdiction in which any Collateral is located or any proceedings are held and, in the
case of an actual or perceived conflict of interest, one additional counsel to the Lenders, taken as a whole), in connection with the enforcement or protection of its rights in connection with the Loan Documents, including its rights under this
Section 10.03, or in connection with the Loans made or Letters of Credit issued hereunder. 
 (b)
Indemnity. EACH BORROWER SHALL INDEMNIFY THE ADMINISTRATIVE AGENT, THE ISSUING BANK AND EACH LENDER, AND EACH RELATED PARTY OF ANY OF THE FOREGOING PERSONS (EACH SUCH PERSON BEING CALLED AN “INDEMNITEE”) AGAINST, AND HOLD
EACH INDEMNITEE HARMLESS FROM, ANY AND ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES AND RELATED EXPENSES, INCLUDING THE FEES, CHARGES AND DISBURSEMENTS OF ANY COUNSEL FOR ANY INDEMNITEE (LIMITED TO ONE COUNSEL TO THE INDEMNITEES, TAKEN AS A WHOLE, AND
ONE ADDITIONAL COUNSEL IN EACH JURISDICTION IN WHICH ANY COLLATERAL IS LOCATED OR ANY PROCEEDINGS ARE HELD AND, IN THE CASE OF AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST, ONE ADDITIONAL COUNSEL TO THE INDEMNITEES, TAKEN AS A WHOLE), INCURRED BY OR
ASSERTED AGAINST ANY INDEMNITEE ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF (I) THE SYNDICATION OF THE COMMITMENTS OR THE LOANS, THE EXECUTION OR DELIVERY OF ANY LOAN DOCUMENT OR ANY OTHER AGREEMENT OR INSTRUMENT CONTEMPLATED HEREBY,
THE PERFORMANCE BY THE PARTIES TO THE LOAN DOCUMENTS OF THEIR RESPECTIVE OBLIGATIONS THEREUNDER OR THE CONSUMMATION OF THE TRANSACTIONS, ANY ACQUISITION PERMITTED HEREBY OR ANY OTHER TRANSACTIONS CONTEMPLATED HEREBY, (II) ANY LOAN OR LETTER OF
CREDIT OR THE USE OF THE PROCEEDS THEREFROM (INCLUDING ANY REFUSAL BY THE ISSUING BANK TO HONOR A DEMAND FOR PAYMENT UNDER A LETTER OF CREDIT IF THE DOCUMENTS PRESENTED IN CONNECTION WITH SUCH DEMAND DO NOT STRICTLY COMPLY WITH THE TERMS OF SUCH
LETTER OF CREDIT), (III) ANY ACTUAL OR ALLEGED PRESENCE OR RELEASE OF HAZARDOUS MATERIALS ON OR FROM ANY PROPERTY CURRENTLY OR FORMERLY OWNED OR OPERATED BY THE PARENT BORROWER OR ANY OF ITS SUBSIDIARIES, OR ANY ENVIRONMENTAL LIABILITY RELATED IN
ANY WAY TO THE PARENT BORROWER OR ANY OF ITS SUBSIDIARIES, OR (IV) ANY ACTUAL OR PROSPECTIVE CLAIM, 

  
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LITIGATION, INVESTIGATION OR PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY AND REGARDLESS OF WHETHER ANY INDEMNITEE IS A PARTY THERETO;
PROVIDED THAT SUCH INDEMNITY SHALL NOT, AS TO ANY INDEMNITEE, BE AVAILABLE TO THE EXTENT THAT SUCH LOSSES, CLAIMS, DAMAGES, LIABILITIES OR RELATED EXPENSES RESULTED FROM THE GROSS NEGLIGENCE, BAD FAITH OR WILLFUL MISCONDUCT OF, OR A MATERIAL
BREACH OF ANY OBLIGATION UNDER THE LOAN DOCUMENTS BY, SUCH INDEMNITEE AS DETERMINED BY A FINAL, NON-APPEALABLE JUDGEMENT OF A COURT OF COMPETENT JURISDICTION OR ANY DISPUTE SOLELY AMONG THE INDEMNITEES (OTHER THAN A COMMITMENT PARTY, AN ARRANGER OR
THE ADMINISTRATIVE AGENT ACTING IN THEIR RESPECTIVE CAPACITY AS SUCH) AND NOT ARISING OUT OF ANY ACT OR OMISSION OF THE PARENT BORROWER, ROTHSAY, THE ROTHSAY SELLER, THE VION SELLER
OR ANY OF THEIR
AFFILIATESSUBSIDIARIES OR RELATED TO THE PRESENCE OR RELEASE OF HAZARDOUS MATERIALS OR VIOLATIONS OF ENVIRONMENTAL LAWS THAT FIRST OCCUR AT A PROPERTY OWNED OR LEASED BY PARENT BORROWER OR ITS SUBSIDIARIES AFTER SUCH PROPERTY IS
TRANSFERRED TO AN INDEMNITEE OR ITS SUCCESSORS OR ASSIGNS BY WAY OF A FORECLOSURE, DEED–IN–LIEU OF FORECLOSURE OR SIMILAR TRANSFER. NOTWITHSTANDING THE FOREGOING, EACH INDEMNITEE SHALL BE OBLIGATED TO REFUND AND RETURN ANY AND ALL AMOUNTS
PAID BY YOU UNDER THIS PARAGRAPH TO SUCH INDEMNITEE FOR ANY SUCH FEES, EXPENSES OR DAMAGES TO THE EXTENT SUCH INDEMNIFIED PERSON IS NOT ENTITLED TO PAYMENT OF SUCH AMOUNT IN ACCORDANCE WITH THE TERMS HEREOF. 

(c) Lender’s Agreement to Pay. To the extent that any Borrower fails to pay any amount required to be paid by it to
the Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this Section 10.03, each Lender severally agrees to pay to the Administrative Agent, the Issuing Bank or the
Swingline Lender, as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or
indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent, the Issuing Bank or the Swingline Lender in its capacity as such. For purposes hereof, a Lender’s
“pro rata share” shall be determined based upon its share of the sum of the total Revolving Exposures, outstanding Term Loans and unused Commitments at the time. 

(d) Waiver of Damages. To the extent permitted by applicable law, none of parties hereto shall assert, and each hereby
waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any Loan Document or any
agreement or instrument contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof. 

(e) Payment. Unless otherwise specified, all amounts due under this Section 10.03 shall be payable not later
than 30 days after written demand therefor. 

  
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 Section 10.04 Successors and Assigns. 

(a) Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) the Borrowers may not assign or otherwise transfer any of their rights
or obligations hereunder without the prior written consent of each Lender except as otherwise permitted under Section 6.03 (and any attempted assignment or transfer by any Borrower without such consent shall be null and void) and
(ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section 10.04. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other
than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit and any Secured Party related to any Lender), Participants (to the extent provided in
paragraph (c) of this Section 10.04) and, to the extent expressly contemplated hereby, the Secured Parties and other Related Parties of each of the Administrative Agent, the Issuing Bank and the Lenders), any legal or
equitable right, remedy or claim under or by reason of this Agreement. 
 (b) Assignment. (i) Subject to the
conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees except to any natural person, any Defaulting Lender or any Disqualified Institution (it being understood assignments to the Parent Borrower and
its Subsidiaries shall be made in accordance with paragraph (e) below) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior
written consent (such consent not to be unreasonably withheld, delayed or conditioned) of: 
 (A) the Parent Borrower;
provided that no consent of the Parent Borrower shall be required for (1) an assignment of (x) any Revolving Commitment to an assignee that is a Lender with a Revolving Commitment immediately prior to giving effect to such
assignment or (y) all or any portion of a Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund or (2) if an Event of Default under Sections 8.01(a), (b), (g) or (h) exists, an assignment
to any other assignee; and provided, further, that the Parent Borrower shall be deemed to have consented to any such assignment of Term B Loans unless the Parent Borrower shall object thereto by written notice to the Administrative
Agent within twelve (12) Business Days after having received notice thereof; 
 (B) the Administrative Agent;
provided that no consent of the Administrative Agent shall be required for an assignment of all or any portion of a Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund; and 

(C) to the extent the assignment relates to the Revolving Facility, any Issuing Bank that has issued Letters of Credit in an
aggregate face amount in excess of $5,000,000. 
 (ii) Assignments shall be subject to the following additional conditions:

 (A) except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or an assignment of the
entire remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment 

  
 CREDIT AGREEMENT, Page 155 

 
(determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than (1) $1,000,000 in the case of the
Term Facility and (2) $5,000,000 in the case of the Revolving Facility unless each of the Parent Borrower and the Administrative Agent otherwise consent (such consent not to be unreasonably withheld, delayed or conditioned); 

(B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights
and obligations under this Agreement; provided that this clause shall not be construed to prohibit the assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of one Class of Commitments or
Loans; 
 (C) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and
Assumption, together with a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative Agent); and 

(D) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire in
which the assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Loan Parties and their related parties or their respective securities) will be made
available and who may receive such information in accordance with the assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 

The amount transferred to a new lender or transferee in relation to a Loan or Commitment made to a Dutch Borrower shall be at
least €100,000 (or its equivalent in another currency). 
 (iii) Subject to acceptance and recording thereof
pursuant to paragraph (b)(iv) of this Section 10.04, from and after the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party hereto and, to the extent of the interest
assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement (including with respect to any Ancillary Facility), and the assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease
to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 10.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply
with this Section 10.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (c) of this Section 10.04. 

(iv) The Administrative Agent, acting for this purpose as an agent of the Borrowers, shall maintain at one of its offices a
copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount (and stated interest) of the Loans and LC Disbursements owing to, each
Lender pursuant to the terms hereof from 

  
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time to time (the “Register”). The entries in the Register shall be conclusive, absent manifest error, and the Borrowers, the Administrative Agent, the Issuing Bank and the
Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by
any Borrower, the Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable prior notice (it being understood that no Lender shall be entitled to view any information in the Register except such information contained
therein with respect to the Class and amount of Obligations owing to such Lender). 
 (v) Upon its receipt of a duly
completed Assignment and Assumption executed by an assigning Lender and an Eligible Assignee, the Eligible Assignee’s completed Administrative Questionnaire (unless the Eligible Assignee shall already be a Lender hereunder), the processing and
recordation fee referred to in paragraph (b) of this Section 10.04 and any written consent to such assignment required by paragraph (b) of this Section 10.04, the Administrative Agent shall accept such
Assignment and Assumption and record the information contained therein in the Register; provided that if either the assigning Lender or the Eligible Assignee shall have failed to make any payment required to be made by it pursuant to
Sections 2.04(c), 2.05(d) or (e), 2.06(b), 2.18(c) or (d) or 10.03(c), the Administrative Agent shall have no obligation to accept such Assignment and Assumption and record the information
therein in the Register unless and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided
in this paragraph (v). 
 (c) Participations. (i) Any Lender may, without the consent of any other Person,
sell participations to one or more banks or other entities (except natural persons, the Parent Borrower and any Subsidiary) (except as set forth in Section 10.04(f) below) (a “Participant”) in all or a portion of such
Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrowers, the Administrative Agent, the Issuing Bank and the other Lenders shall continue to deal solely and
directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. 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, modification or waiver described in the first proviso to Section 10.02(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section 10.04, each Borrower agrees that each Participant
shall be entitled to the benefits of, and subject to the limitations of, Sections 2.15, 2.16 and 2.17 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of
this Section 10.04. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided such Participant agrees to be subject to
Section 2.18(c) as though it were a Lender. 

  
 CREDIT AGREEMENT, Page 157 

 (ii) Each Lender that sells a participation, acting solely for this purpose as a
non-fiduciary agent of the Borrowers solely for United States federal tax purposes, shall maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s
interest in the Loans or other obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person
(including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans, Letters of Credit or its other obligations under this Agreement or any other Loan Document) except to the extent that
such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall
be conclusive absent manifest error, and such Lender, each Loan Party and the Administrative Agent shall treat each person whose name is recorded in the Participant Register pursuant to the terms hereof as the owner of such participation for all
purposes of this Agreement, notwithstanding notice to the contrary. 
 (d) Pledge. Any Lender may, in accordance with
applicable law, at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or
other central banking authority, and this Section 10.04 shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of
its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (e) Dutch
Auction/Open Market Purchases. Notwithstanding anything else to the contrary contained in this Agreement, any Lender may assign all or a portion of its Term Loans to the Parent Borrower or any Subsidiary (collectively, “Affiliated
Lenders”) on a non-pro rata basis (i) through “Dutch auctions” open to all Lenders holding the relevant Term Loans, on a pro rata basis or (ii) through open market purchases, in each case with respect to
clauses (i) and (ii), without the consent of the Administrative Agent or any other Person; provided that: 
 (i)
with respect to any assignment to an Affiliated Lender, no Default has occurred or is continuing at the time of acceptance of bids for the “Dutch auction” or entry into a binding agreement with respect to open market purchases; 

(ii) the assigning Lender and Affiliated Lender purchasing such Term Loans, as applicable, shall execute and deliver to the Administrative
Agent an assignment and assumption consistent with the terms of this Section 10.04(e); 
 (iii) for the avoidance of doubt,
Lenders shall not be permitted to assign Revolving Commitments or Revolving Loans to any Affiliated Lender; 
 (iv) any Term Loans assigned
to any Affiliated Lender shall be automatically and permanently cancelled upon the effectiveness of such assignment and will thereafter no longer be outstanding for any purpose hereunder; 

(v) any purchases or assignments of Loans by an Affiliated Lender made through “Dutch auctions” shall be conducted pursuant to
procedures to be established by the Administrative Agent and the Parent Borrower that are consistent with Section 10.04(e); and 

  
 CREDIT AGREEMENT, Page 158 

 (vi) no Affiliated Lender shall be required to represent or warrant that it is not in possession
of material non-public information with respect to any Borrower and/or any Subsidiary thereof and/or their respective securities in connection with any assignment or purchase permitted by this Section 10.04(e). 

(f) Disqualified Institutions; Non-Qualified Persons. 

(i) No assignment or participation shall be made to any Person that was a Disqualified Institution as of the date (the
“Trade Date”) on which the assigning or participating, as applicable, Lender entered into a binding agreement to sell and assign or participate in all or a portion of its rights and obligations under this Agreement to such Person
(unless the Parent Borrower has consented to such assignment in writing in its sole and absolute discretion, in which case such Person will not be considered a Disqualified Institution for the purpose of such assignment or participation). For the
avoidance of doubt, with respect to any assignee that becomes a Disqualified Institution after the applicable Trade Date (including as a result of the delivery of a notice pursuant to, and/or the expiration of the notice period referred to in, the
definition of “Disqualified Institution”), (x) such assignee shall not retroactively be disqualified from becoming a Lender and (y) the execution by any Borrower of an Assignment and Assumption with respect to such assignee will
not by itself result in such assignee no longer being considered a Disqualified Institution. Any assignment in violation of this clause (f)(i) shall not be void, but the other provisions of this clause (f) shall apply. 

(ii) If any assignment or participation is made to any Disqualified Institution without the Parent Borrower’s prior
written consent in violation of clause (f)(i) above or to any Affiliate of a Disqualified Institution, or if any Person becomes a Disqualified Institution or an Affiliate thereof after the applicable Trade Date, the Parent Borrower may upon
notice to the applicable Disqualified Institution or Affiliate and the Administrative Agent, (A) terminate any Revolving Commitment of such Disqualified Institution or Affiliate and cause the relevant Borrower to repay all Loan Obligations
owing to such Disqualified Institution or Affiliate in connection with such Revolving Commitment, (B) in the case of any outstanding Term Loans held by Disqualified Institutions or their respective Affiliates, purchase or prepay (or cause the
relevant Borrower to purchase or prepay) such Term Loan by paying the lowest of (x) the par value of the principal amount thereof, (y) the amount that such Disqualified Institution or its Affiliate paid to acquire such Term Loans and
(z) the most recent trading price of such Term Loans, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder on such Loans and/or (C) require such Disqualified
Institution or Affiliate to assign, without recourse (in accordance with and subject to the restrictions contained in this Section 10.04), all of its interest, rights and obligations under this Agreement to one or more assignees at the
lowest of (x) the par value of the principal amount thereof, (y) the amount that such Disqualified Institution or its Affiliates paid to acquire such Revolving and/or Term Loans and (z) the most recent trading price of such Revolving
and/or Term Loans, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder in respect thereof; provided that if any Lender (including any Disqualified Institution or
Affiliate thereof) does not execute and deliver an Assignment and Assumption to the Administrative Agent by the later of (a) the date the replacement Lender executes and delivers such Assignment and Assumption to the Administrative Agent and
(b) the date 

  
 CREDIT AGREEMENT, Page 159 

 
as of which the Disqualified Institution or Affiliate shall be paid by the assignee lender (or, at its option, a Borrower) the amount required pursuant to this Section 10.04(f)(ii),
then such Disqualified Lender or such Affiliate shall be deemed to have executed and delivered such Assignment and Assumption and consented to the Administrative Agent effectuating any assignment in full of such Lender’s interests hereunder and
taking any such actions as appropriate to facilitate the foregoing. 
 (iii) Notwithstanding anything to the contrary
contained in this Agreement, Disqualified Institutions or any of their Affiliates (A) will not (x) have the right to receive information, reports or other materials provided to Lenders by or on behalf of the Borrowers or their respective
Subsidiaries, the Administrative Agent or any other Lender, (y) attend or participate in meetings attended by the Lenders and the Administrative Agent, or (z) access any electronic site established for the Lenders or confidential
communications from counsel to or financial advisors of the Administrative Agent or the Lenders and (B) (x) for purposes of any consent to any waiver, amendment or consent, or any action under, and for the purpose of any direction to the
Administrative Agent or any Lender to undertake any action (or refrain from taking any action) under this Agreement or any other Loan Document, each Disqualified Institution or its Affiliates, as applicable, will be deemed to have consented in the
same proportion as the Lenders that are not Disqualified Institutions consented to such matter, and (y) for purposes of voting on any plan of reorganization or plan of liquidation pursuant to any Debtor Relief Laws, each Disqualified
Institution or its Affiliates, as applicable, party hereto hereby agrees (1) not to vote on such plan of reorganization or plan of liquidation pursuant to any Debtor Relief Laws, (2) if such Disqualified Institution or its Affiliates, as
applicable, does vote on such plan of reorganization or plan of liquidation pursuant to any Debtor Relief Laws notwithstanding the restriction in the foregoing clause (1), such vote will be deemed not to be in good faith and shall be
“designated” pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws), and such vote shall not be counted in determining whether the applicable class has accepted or rejected such
plan in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws) and (3) not to contest any request by any party for a determination by the Bankruptcy Court (or other applicable
court of competent jurisdiction) effectuating the foregoing clause (2). 
 (iv) The Administrative Agent shall have
the right, and the Parent Borrower hereby expressly authorizes the Administrative Agent, to provide the list of Disqualified Institutions provided by the Parent Borrower and any updates thereto from time to time (collectively, the “DQ
List”) to each Lender requesting the same and such lenders may so provide the DQ List to any potential assignees or participants on a confidential basis. 

(v) For the avoidance of doubt, the provisions in Section 10.04(f)(ii), (iii) and
(iv) applicable to Affiliates of Disqualified Institutions shall not apply to Bona Fide Debt Funds, unless such Bona Fide Debt Fund is otherwise a Disqualified Institution pursuant to the definition thereof. 

Section 10.05 Survival. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents
and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery
of the Loan Documents and 

  
 CREDIT AGREEMENT, Page 160 

 
the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, the
Issuing Bank or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder. The provisions of Sections 2.15, 2.16, 2.17 and 10.03 and
Article IX shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the
termination of this Agreement or any provision hereof. For the avoidance of doubt, if any entity ceases to be a Lender under this Agreement pursuant to an Assignment and Acceptance, such entity shall be entitled to the benefits of the surviving
provisions in the previous sentence but only with respect to the period during which such entity was a Lender under this Agreement. 

Section 10.06 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. THIS AGREEMENT, THE OTHER LOAN DOCUMENTS AND ANY SEPARATE LETTER AGREEMENTS WITH RESPECT TO FEES
PAYABLE TO THE ADMINISTRATIVE AGENT EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES RELATING TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY AND ALL PREVIOUS COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS, WHETHER ORAL OR WRITTEN,
RELATING TO THE SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES HERETO.
Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together,
bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Delivery of an executed counterpart of a signature
page of this Agreement by telecopy or email or other electronic means (including a “.pdf” or “.tif” file) shall be effective as delivery of a manually executed counterpart of this Agreement. 

Section 10.07 Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular
provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 Section 10.08 Right of
Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of any Borrower against any of and all the Loan Obligations
held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. Each party exercising rights under this Section 10.08 shall promptly notify
the applicable Borrower (with a copy to the Administrative Agent) after any such exercise; provided that the failure to give such notice shall not effect the validity of such right. The rights of each Lender under this Section are in addition
to other rights and remedies (including other rights of setoff) which such Lender may have. 

  
 CREDIT AGREEMENT, Page 161 

 Section 10.09 Governing Law; Jurisdiction; Consent to Service of Process. 

(a) Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York
without regard to conflicts of law principles;. 
 (b) Jurisdiction. EACH LENDER, EACH LOAN PARTY AND THE
ADMINISTRATIVE AGENT HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY FEDERAL OR STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK, AND ANY APPELLATE COURT FROM
ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT (EXCLUDING THE ENFORCEMENT OF THE SECURITY DOCUMENTS TO THE EXTENT SUCH SECURITY DOCUMENTS EXPRESSLY PROVIDE OTHERWISE), OR FOR RECOGNITION OR ENFORCEMENT OF
ANY JUDGMENT, AND EACH OF SUCH PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH
FEDERAL COURT. EACH OF SUCH PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 

(c) Venue. Each Loan Party and each other party to this Agreement hereby irrevocably and unconditionally waives, to the
fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court
referred to in paragraph (b) of this Section 10.09. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or
proceeding in any such court. 
 (d) Service of Process. Each Loan Party and each other party to this Agreement
irrevocably appoints the Parent Borrower as its agent for service of process and consents to service of process in the manner provided for notices in Section 10.01. Nothing in this Agreement or any other Loan Document will affect the
right of any party to this Agreement to serve process in any other manner permitted by law. 
 Section 10.10 WAIVER OF JURY
TRIAL. EACH LOAN PARTY AND EACH OTHER PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH LOAN PARTY AND EACH OTHER PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THE LOAN
DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.10. 

  
 CREDIT AGREEMENT, Page 162 

 Section 10.11 Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

Section 10.12 Confidentiality. Each of the Administrative Agent, the Issuing Bank and the Lenders agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed: (a) to its Related Parties, including accountants, legal counsel and other advisors on a “need-to-know” basis (it being understood that
the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential and the Administrative Agent, the Issuing Bank and the Lenders shall be responsible for
the compliance with this paragraph by its Related Parties), (b) to the extent requested by any Governmental Authority, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process (in which case,
to the extent permitted by law, the party in receipt of such request shall promptly inform the Parent Borrower in advance other than in connection with any examination of the financial condition or other routine examination of such Lender),
(d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or
thereunder, (f) subject to an agreement containing provisions not less restrictive than those of this Section 10.12, to (i) any Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or Participant in,
any of its rights or obligations under this Agreement (it being understood the DQ List may be shared in accordance with Section 10.04(f)(iv)) or (ii) any actual or prospective direct or indirect counterparty (or its advisors) to any
swap or derivative transaction relating to any Loan Party and its obligations, (g) with the written consent of the Parent Borrower (h) to the extent such Information becomes publicly available other than as a result of a breach of this
Section 10.12 or (i) to any rating agency when required by it, provided that, prior to any disclosure, such rating agency shall undertake to preserve the confidentiality of any confidential Information relating to the Loan
Parties received by it from such Person. In addition, the Administrative Agent and the Lenders may disclose the existence of this Agreement and any customary information about this Agreement required for league table or similar credit. For the
purposes of this Section, “Information” means all information received from the Borrowers relating to the Borrowers or their business. Any Person required to maintain the confidentiality of Information as provided in this
Section 10.12 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential
information. EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN THIS SECTION FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE LOAN PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE
SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING
FEDERAL AND STATE SECURITIES LAWS. ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY ANY BORROWER OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL
INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE LOAN PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO EACH BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED
IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS 

  
 CREDIT AGREEMENT, Page 163 

 
COMPLIANCE PROCEDURES AND APPLICABLE LAW. Notwithstanding anything in this Section 10.12 to the contrary, (x) to the extent any legal counsel, independent auditors, professionals
and other experts or agents of a Lender receives any Information, such legal counsel, independent auditors, professionals and other experts or agents shall sign an undertaking that they will treat such Information as confidential (subject to certain
customary exceptions) unless there are established and enforceable codes of professional conduct governing the confidential treatment of such Information so received and (y) in no event shall any disclosure of any Information be made to a
Person that is a Disqualified Institution at the time of disclosure (except to the extent set forth in clauses (c) or (f)(i) (solely with respect to the DQ List as set forth above) above). 

Section 10.13 Maximum Interest Rate. 

(a) Limitation to Maximum Rate; Recapture. No interest rate specified in any Loan Document shall at any time exceed the
Maximum Rate. If at any time the interest rate (the “Contract Rate”) for any obligation under the Loan Documents shall exceed the Maximum Rate, thereby causing the interest accruing on such obligation to be limited to the Maximum
Rate, then any subsequent reduction in the Contract Rate for such obligation shall not reduce the rate of interest on such obligation below the Maximum Rate until the aggregate amount of interest accrued on such obligation equals the aggregate
amount of interest which would have accrued on such obligation if the Contract Rate for such obligation had at all times been in effect. As used herein, the term “Maximum Rate” means, at any time with respect to any Lender, the
maximum rate of nonusurious interest under applicable law that such Lender may charge applicable Borrower. The Maximum Rate shall be calculated in a manner that takes into account any and all fees, payments, and other charges contracted for,
charged, or received in connection with the Loan Documents that constitute interest under applicable law. Each change in any interest rate provided for herein based upon the Maximum Rate resulting from a change in the Maximum Rate shall take effect
without notice to any Borrower at the time of such change in the Maximum Rate. For purposes of determining the Maximum Rate under Texas law, the applicable rate ceiling shall be the weekly rate ceiling described in, and computed in accordance with,
Chapter 303 of the Texas Finance Code. 
 (b) Cure Provisions. No provision of any Loan Document shall require the
payment or the collection of interest in excess of the Maximum Rate. If any excess of interest in such respect is hereby provided for, or shall be adjudicated to be so provided, in any Loan Document or otherwise in connection with this loan
transaction, the provisions of this Section 10.13 shall govern and prevail and neither any Borrower nor the sureties, guarantors, successors, or assigns of any Borrower shall be obligated to pay the excess amount of such interest or any
other excess sum paid for the use, forbearance, or detention of sums loaned pursuant hereto. In the event any Lender ever receives, collects, or applies as interest any such sum, such amount which would be in excess of the maximum amount permitted
by applicable law shall be applied as a payment and reduction of the principal of the obligations outstanding hereunder, and, if the principal of the obligations outstanding hereunder has been paid in full, any remaining excess shall forthwith be
paid to the applicable Borrower. In determining whether or not the interest paid or payable exceeds the Maximum Rate, each Borrower and each Lender shall, to the extent permitted by applicable law, (a) characterize any non-principal payment as an expense, fee, or premium rather than as interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal
parts the total amount of interest throughout the entire contemplated term of the obligations outstanding hereunder so that interest for the entire term does not exceed the Maximum Rate. 

  
 CREDIT AGREEMENT, Page 164 

 (c) Chapter 346 of the Texas Finance Code. The provisions of Chapter 346
of the Finance Code of Texas are specifically declared by the parties hereto not to be applicable to this Agreement or to the transactions contemplated hereby. 

(d) Canadian Interest Limitation. Notwithstanding anything in this Section 10.13 or otherwise in this
Agreement, the provisions of this clause (d) shall apply to the Canadian Loan Parties. If any provision of this Agreement or of any of the other Loan Documents would obligate any Canadian Loan Party to make any payment of interest or
other amount payable to the Lenders in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lenders of interest at a criminal rate (as such terms are construed under the Criminal Code (Canada)) then,
notwithstanding such provisions, such amount or rate shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the
Lenders of interest at a criminal rate, such adjustment to be effected, to the extent necessary, as follows: (1) firstly, by reducing the amount or rate of interest required to be paid to the Lenders under Section 2.13, and
(2) thereafter, by reducing any fees, commissions, premiums and other amounts required to be paid to the Lenders which would constitute “interest” for purposes of Section 347 of the Criminal Code (Canada). Notwithstanding the
foregoing, and after giving effect to all adjustments contemplated thereby, if the Lenders shall have received an amount in excess of the maximum permitted by Section 347 of the Criminal Code (Canada), the Canadian Loan Parties shall be
entitled, by notice in writing to the Administrative Agent, to obtain reimbursement from the Lenders in an amount equal to such excess and, pending such reimbursement, such amount shall be deemed to be an amount payable by the Lenders to the
Canadian Borrower. Any amount or rate of interest referred to in Section 2.13 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that the
applicable Loan remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated
over that period of time and otherwise be pro-rated over the period from the Effective Date to the date this Agreement is terminated and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the
Administrative Agent shall be conclusive for the purposes of such determination. 
 Section 10.14 Limitation of Liability. None
of Loan Parties, the Administrative Agent, any Lender, or any of their respective Related Parties shall have any liability with respect to, and each Borrower, the Administrative Agent and each Lender and, by the execution of the Loan Documents to
which it is a party, each other Loan Party, hereby waives, releases, and agrees not to sue any of them upon, any claim for any special, indirect, incidental, consequential or punitive damages suffered or incurred by such party in connection with,
arising out of, or in any way related to any of the Loan Documents, or any of the transactions contemplated by any of the Loan Documents; provided that for the avoidance of doubt, the foregoing shall not limit any of the Loan Parties’
indemnity obligations set forth in Section 10.03. 
 Section 10.15 No Duty. All attorneys, accountants, appraisers,
and other professional Persons and consultants retained by the Administrative Agent or any Lender shall have the right to act exclusively in the interest of the Administrative Agent and the Lenders and shall have no duty of disclosure, duty of
loyalty, duty of care, or other duty or obligation of any type or nature whatsoever to any Borrower, any other Loan Party, any of the Parent Borrower’s shareholders or any other Person. 

  
 CREDIT AGREEMENT, Page 165 

 Section 10.16 No Fiduciary Relationship. The relationship between the Loan Parties on
the one hand and the Administrative Agent, each other agent party hereto and each Lender on the other is solely that of debtor and creditor, and neither the Administrative Agent, nor any other agent party hereto nor any Lender has any fiduciary or
other special relationship with any Loan Party, and no term or condition of any of the Loan Documents shall be construed so as to deem the relationship between the Loan Parties on the one hand and the Administrative Agent, each other agent party
hereto and each Lender on the other to be other than that of debtor and creditor. In addition, the Administrative Agent, each other agent party hereto and each Lender and their Affiliates may have economic interests that conflict with those of the
Loan Parties, their stockholders and/or their Affiliates. The Loan Parties acknowledge and agree that (i) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder) are
arm’s-length commercial transactions between the Lenders, on the one hand, and the Loan Parties, on the other, and (ii) in connection therewith (x) no Lender has assumed an advisory or fiduciary responsibility in favor of any Loan
Party, its stockholders or its Affiliates with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender has advised, is currently
advising or will advise any Loan Party, its stockholders or its Affiliates on other matters) or any other obligation to any Loan Party except the obligations expressly set forth in the Loan Documents and (y) each Lender is acting solely as
principal and not as the agent or fiduciary of any Loan Party, its management, stockholders, creditors or any other Person. Each Loan Party acknowledges and agrees that it has consulted its own legal and financial advisors to the extent it deemed
appropriate and that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. Each Loan Party agrees that it will not claim that any Lender has rendered advisory services of any
nature or respect, or owes a fiduciary or similar duty to such Loan Party, in connection with the transactions contemplated hereby. 

Section 10.17 Construction. Each Loan Party, the Administrative Agent and each Lender acknowledges that each of them has had the
benefit of legal counsel of its own choice and has been afforded an opportunity to review the Loan Documents with its legal counsel and that the Loan Documents shall be construed as if jointly drafted by the parties thereto. 

Section 10.18 USA Patriot Act and Canadian Anti-Money Laundering Legislation. 

(a) Each Lender that is subject to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001)) (the “Patriot Act”) hereby notifies each Loan Party that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies such Loan Party, which
information includes the name and address of such Loan Party and other information that will allow such Lender to identify such Loan Party in accordance with the Patriot Act. 

(b) Each Borrower acknowledges that, pursuant to the Proceeds of Crime Act and other applicable anti-money laundering,
anti-terrorist financing, government sanction and “know your client” laws in each relevant jurisdiction (collectively, including any guidelines or orders thereunder, “AML Legislation”), the Lenders may be required to
obtain, verify and record information regarding the Borrowers, their respective Related Parties, the Transactions and any other transactions contemplated hereby. The Borrowers shall promptly provide all such information, including supporting
documentation and other evidence, as may be reasonably requested by any Lender, any Issuing Bank or the Administrative Agent, in order to comply with any applicable AML Legislation, whether now or hereafter in existence. 

  
 CREDIT AGREEMENT, Page 166 

 (i) If the Administrative Agent has ascertained the identity of any Borrower or
any authorized signatories of the Borrower for the purposes of applicable AML Legislation, then the Administrative Agent: 

(A) shall be deemed to have done so as an agent for each Lender, and this Agreement shall constitute a “written
agreement” in such regard between each Lender and the Administrative Agent within the meaning of the applicable AML Legislation; and 

(B) shall provide to each Lender copies of all information obtained in such regard without any representation or warranty as to
its accuracy or completeness. 
 (C) Notwithstanding the preceding sentence and except as may otherwise be agreed in writing,
each of the Lenders agrees that the Administrative Agent has no obligation to ascertain the identity of the Borrowers or any authorized signatories of the Borrowers on behalf of any Lender, or to confirm the completeness or accuracy of any
information it obtains from any Borrower or any such authorized signatory in doing so. 
 Section 10.19 Parallel Debt (Covenant to
pay the Administrative Agent). 
 (a) Notwithstanding any other provision of this Agreement, each Parallel Debt Loan
Party hereby irrevocably and unconditionally undertakes to pay to the Administrative Agent as creditor in its own right and not as representative of the other Secured Parties, sums equal to and in the currency of each amount payable by such Parallel
Debt Loan Party to each of the Secured Parties under each of the Loan Documents as and when that amount falls due for payment under the relevant Loan Document (the “Parallel Debt”). 

(b) The Administrative Agent shall have its own independent right to demand payment of the amounts payable by each Parallel
Debt Loan Party under this Section 10.19. 
 (c) Any amount due and payable by a Parallel Debt Loan Party to the
Administrative Agent under this Section 10.19 shall be decreased to the extent that the other Secured Parties have received payment in full or in part (which payment has not been rescinded or otherwise required by any Governmental
Authority to be restored or returned) of the corresponding amount under the other provisions of the Loan Documents, and any amount due and payable by a Parallel Debt Loan Party to the other Secured Parties under those provisions shall be decreased
to the extent that the Administrative Agent has received payment in full or in part (which payment has not been rescinded or otherwise required by any Governmental Authority to be restored or returned) of the corresponding amount under this
Section 10.19. For the absence of doubt, the Administrative Agent shall not demand payment from a Parallel Debt Loan Party under the Parallel Debt to the extent that such Parallel Debt Loan Party’s corresponding obligations under
the Loan Documents have been irrevocably repaid or, in the case of Guarantee obligations, discharged. 
 Section 10.20 Additional
Borrowers. The Parent Borrower may designate any wholly-owned Subsidiary as a Borrower under any Revolving Commitments or any Incremental Facility (an “Additional Borrower”); provided that the Administrative Agent shall
be reasonably satisfied that, with respect to any 

  
 CREDIT AGREEMENT, Page 167 

 
such Subsidiary which is not a Domestic Subsidiary, the applicable Lenders to such Additional Borrower may make loans and other extensions of credit to such Subsidiary in such person’s
jurisdiction of organization in compliance with applicable laws and regulations, without being required or qualified to do business in such jurisdiction and without being subject to any unreimbursed or unindemnified Taxes or other expense. Such
wholly-owned Subsidiary shall become an Additional Borrower and a party to this Agreement, and all references to the “Borrowers” and “Subsidiary Borrowers” shall also include such Additional Borrower, as applicable, upon
(a) the applicable Additional Borrower becoming a party to this Agreement by delivering to the Administrative Agent an executed counterpart to a Foreign Security Agreement and an executed counterpart to a joinder agreement in form and substance
reasonably acceptable to the Administrative Agent to each of this Agreement and the Guaranty Agreement (it being agreed that the Lenders hereby authorize the Administrative Agent to execute and deliver any such joinder agreement), (b) the
Administrative Agent shall have received documents, certificates and other deliverables with respect to the applicable Additional Borrower consistent in scope with such items delivered pursuant to Sections 4.01(b), (c) (or
(d) in the case of Dutch Subsidiary Borrowers) and (e), as applicable, on the Effective Date with respect
to the other Loan Parties and (c) the Lenders being provided with ten (10) Business Days’ prior notice (or such shorter period of time as the Administrative Agent shall reasonably agree) of any Additional Borrower being added pursuant
to this Section 10.20. This Agreement may be amended as necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Parent Borrower to effect the provisions of or be consistent with this
Section 10.20. Notwithstanding any other provision of this Agreement to the contrary (including Section 10.02), any such deemed amendment may be memorialized in writing by the Administrative Agent with the Parent
Borrower’s consent, but without the consent of any other Lenders, and furnished to the other parties hereto. 

Section 10.21 Acknowledgement and Consent to Bail-In of EEA 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 EEA Financial Institution arising under any Loan Document may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and
agrees to be bound by: 
 (a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any
such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

(b) the effects of any Bail-In Action on any such liability, including, if applicable: 

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

  
 CREDIT AGREEMENT, Page 168 

Section 10.22 Certain
ERISA Matters. 
 (a) (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, for the benefit of, the Administrative Agent, the arrangers and their respective Affiliates, that at least one of
the following is and will be true: 
 (i) such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of
ERISA) of one or more Benefit Plans in connection with the Loans, the Letters of Credit 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 Letters of Credit, the
Commitments and this Agreement, 
 (iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of
PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement,
(C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and
(D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the
Letters of Credit, the Commitments and this Agreement, or 
 (iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion,
and such Lender. 
 (b) In addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender has
not provided another representation, warranty and covenant as provided in 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,
that: 

(i) none of
the Administrative Agent, the arrangers or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender (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),  

  
 CREDIT AGREEMENT, Page 169 

(ii) the
Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is independent (within the
meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has under management or control, total assets of at least $50,000,000, in each case as described in 29 CFR
§ 2510.3-21(c)(1)(i)(A)-(E), 
 (iii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration
of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies (including in
respect of the Obligations), 
 (iv) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration
of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Letters of Credit, the Commitments and this Agreement and is responsible for
exercising independent judgment in evaluating the transactions hereunder, and 

(v) no fee or
other compensation is being paid directly to the Administrative Agent, the arrangers or any of their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Letters of Credit, the Commitments or
this Agreement. 
 (c) The Administrative Agent and each arranger hereby informs the Lenders that each such Person is not undertaking to provide impartial
investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof
(i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans, the Letters of Credit or the Commitments for an amount
less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or
otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of
credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing. 

  
 CREDIT AGREEMENT, Page 170 

 ARTICLE XI 

Collection Allocation Mechanism 

Section 11.01 Implementation of CAM. (a) On the CAM Exchange Date, (i) the Commitments shall automatically and without
further act be terminated as provided in Article VIII and (ii) the Lenders shall automatically and without further act (and without regard to the provisions of Section 10.04) be deemed to have exchanged interests in the
Credit Facilities such that in lieu of the interest of each Lender in each Credit Facility in which it shall participate as of such date (including such Lender’s interest in the Specified Obligations of each Loan Party in respect of each such
Credit Facility), such Lender shall hold an interest in every one of the Credit Facilities (including the Specified Obligations of each Loan Party in respect of each such Credit Facility and each LC Reserve Account established pursuant to
Section 11.02 below), whether or not such Lender shall previously have participated therein, equal to such Lender’s CAM Percentage thereof. Each Lender and each Loan Party hereby consents and agrees to the CAM Exchange, and each
Lender agrees that the CAM Exchange shall be binding upon its successors and assigns and any person that acquires a participation in its interests in any Credit Facility. 

(b) As a result of the CAM Exchange, upon and after the CAM Exchange Date, each payment received by the Administrative Agent
pursuant to any Loan Document in respect of the Specified Obligations, and each distribution made by the Administrative Agent pursuant to any Security Documents in respect of the Specified Obligations, shall be distributed to the Lenders pro rata in
accordance with their respective CAM Percentages. Any direct payment received by a Lender upon or after the CAM Exchange Date, including by way of setoff, in respect of a Specified Obligation shall be paid over to the Administrative Agent for
distribution to the Lenders in accordance herewith. 
 Section 11.02 Letters of Credit. (a) In the event that on the CAM
Exchange Date any Letter of Credit shall be outstanding and undrawn in whole or in part, or any amount drawn under a Letter of Credit shall not have been reimbursed by any Borrower or with the proceeds of a Revolving Loan, each Revolving Lender
shall promptly pay over to the Administrative Agent, in immediately available funds and in dollars, an amount equal to such Revolving Lender’s Applicable Percentage (as notified to such Lender by the Administrative Agent) of such Letter of
Credit’s undrawn face amount (or, in the case of any Letter of Credit denominated in a currency other than dollars, the Dollar Equivalent thereof) or (to the extent it has not already done so) such Letter of Credit’s unreimbursed drawing
(or, in the case of any Letter of Credit denominated in a currency other than dollars, the Dollar Equivalent thereof), together with interest thereon from the CAM Exchange Date to the date on which such amount shall be paid to the Administrative
Agent at the rate that would be applicable at the time to an ABR Revolving Loan in a principal amount equal to such amount, as the case may be. The Administrative Agent shall establish a separate account or accounts for each Revolving Lender (each,
an “LC Reserve Account”) for the amounts received with respect to each such Letter of Credit pursuant to the preceding sentence. The Administrative Agent shall deposit in each Revolving Lender’s LC Reserve Account such
Lender’s CAM Percentage of the amounts received from the Revolving Lenders as provided above. The Administrative Agent shall have sole dominion and control over each LC Reserve Account, and the amounts deposited in each LC Reserve Account shall
be held in such LC Reserve Account until withdrawn as provided in paragraph (b), (c), (d) or (e) below. The Administrative Agent shall maintain records enabling it to determine the amounts paid over to it and
deposited in the LC Reserve Accounts in respect of each Letter of Credit and the amounts on deposit in respect of each Letter of Credit attributable to each Lender’s CAM Percentage. The amounts held in each Lender’s LC Reserve Account
shall be held as a reserve against the LC Exposure, shall be the property of such Lender, shall not constitute Loans to or give rise to any claim of or against any Loan Party and shall not give rise to any obligation on the part of the Parent
Borrower or any other Borrower to pay interest to such Lender, it being agreed that the reimbursement obligations in respect of Letters of Credit shall arise only at such times as drawings are made thereunder, as provided in
Section 2.05. 

  
 CREDIT AGREEMENT, Page 171 

 (b) In the event that after the CAM Exchange Date any drawing shall be made in
respect of a Letter of Credit, the Administrative Agent shall, at the request of the Issuing Bank, withdraw from the LC Reserve Account of each Revolving Lender any amounts, up to the amount of such Lender’s CAM Percentage of such drawing (or
in the case of any drawing under a Letter of Credit denominated in a currency other than dollars, the Dollar Equivalent of such drawing), deposited in respect of such Letter of Credit and remaining on deposit and deliver such amounts to the Issuing
Bank in satisfaction of the reimbursement obligations of the Revolving Lenders under Section 2.05(e) (but not of the Parent Borrower and the other Borrowers under Section 2.05(f), respectively). In the event any Revolving
Lender shall default on its obligation to pay over any amount to the Administrative Agent in respect of any Letter of Credit as provided in this Section 11.02, the Issuing Bank shall, in the event of a drawing thereunder, have a claim
against such Revolving Lender to the same extent as if such Lender had defaulted on its obligations under Section 2.05(e), but shall have no claim against any other Lender in respect of such defaulted amount, notwithstanding the exchange
of interests in the reimbursement obligations pursuant to Section 11.01. Each other Lender shall have a claim against such defaulting Revolving Lender for any damages sustained by it as a result of such default, including, in the event
such Letter of Credit shall expire undrawn, its CAM Percentage of the defaulted amount. 
 (c) In the event that after the
CAM Exchange Date any Letter of Credit shall expire undrawn, the Administrative Agent shall withdraw from the LC Reserve Account of each Revolving Lender the amount remaining on deposit therein in respect of such Letter of Credit and distribute such
amount to such Lender. 
 (d) With the prior written approval of the Administrative Agent and the Issuing Bank, any Revolving
Lender may withdraw the amount held in its LC Reserve Account in respect of the undrawn amount of any Letter of Credit. Any Revolving Lender making such a withdrawal shall be unconditionally obligated, in the event there shall subsequently be a
drawing under such Letter of Credit, to pay over to the Administrative Agent, for the account of the Issuing Bank on demand, its CAM Percentage of such drawing. 

(e) Pending the withdrawal by any Revolving Lender of any amounts from its LC Reserve Account as contemplated by the above
paragraphs, the Administrative Agent will, at the direction of such Lender and subject to such rules as the Administrative Agent may prescribe for the avoidance of inconvenience, invest such amounts in Permitted Investments. Each Revolving Lender
that has not withdrawn its CAM Percentage of amounts in its LC Reserve Account as provided in paragraph (d) above shall have the right, at intervals reasonably specified by the Administrative Agent, to withdraw the earnings on
investments so made by the Administrative Agent with amounts in its LC Reserve Account and to retain such earnings for its own account. 

[Signature Pages Begin on the Next Page] 

  
 CREDIT AGREEMENT, Page 172 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written. 
 [See signature pages to FourthFifth Amendment]

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