Document:

Guarantee and Collateral Agreement, dated as of January 27, 2005

 Exhibit 4.7 
  

  
 GUARANTEE AND COLLATERAL AGREEMENT 
  
 made by 

 
 ALLIANCE LAUNDRY HOLDINGS LLC 
  
 ALLIANCE LAUNDRY SYSTEMS LLC 
 and certain of their Subsidiaries 
  
 in favor of 
  
 LEHMAN COMMERCIAL PAPER INC., 
  
 as Administrative Agent 
  
 Dated
as of January 27, 2005 
  

  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	 SECTION 1. DEFINED TERMS
	  	2
	 1.1
	  	Definitions	  	2
	 1.2
	  	Other Definitional Provisions	  	6
		
	 SECTION 2. GUARANTEE
	  	6
	 2.1
	  	Guarantee	  	6
	 2.2
	  	Right of Contribution	  	8
	 2.3
	  	No Subrogation	  	8
	 2.4
	  	Amendments, etc. with respect to the Borrower Obligations	  	9
	 2.5
	  	Guarantee Absolute and Unconditional	  	9
	 2.6
	  	Reinstatement	  	11
	 2.7
	  	Payments	  	11
		
	 SECTION 3. GRANT OF SECURITY INTEREST
	  	11
		
	 SECTION 4. REPRESENTATIONS AND WARRANTIES
	  	12
	 4.1
	  	Representations in Credit Agreement	  	12
	 4.2
	  	No Other Liens	  	13
	 4.3
	  	Perfected First Priority Liens	  	13
	 4.4
	  	Jurisdiction of Organization; Chief Executive Office	  	13
	 4.5
	  	Inventory and Equipment	  	13
	 4.6
	  	Farm Products	  	13
	 4.7
	  	Investment Property	  	14
	 4.8
	  	Receivables	  	14
	 4.9
	  	Contracts	  	14
	 4.10
	  	Intellectual Property	  	15
	 4.11
	  	Commercial Tort Claims	  	15
		
	 SECTION 5. COVENANTS
	  	16
	 5.1
	  	Covenants in Credit Agreement	  	16
	 5.2
	  	Delivery of Instruments, Certificated Securities and Chattel Paper	  	16
	 5.3
	  	Maintenance of Insurance	  	16
	 5.4
	  	Payment of Obligations	  	16
	 5.5
	  	Maintenance of Perfected Security Interest; Further Documentation	  	17
	 5.6
	  	Changes in Locations, Name, etc.	  	17
	 5.7
	  	Notices	  	17
	 5.8
	  	Investment Property	  	18
	 5.9
	  	Receivables	  	19
	 5.10
	  	Intellectual Property	  	19
		
	 SECTION 6. REMEDIAL PROVISIONS
	  	21
	 6.1
	  	Certain Matters Relating to Receivables	  	21
	 6.2
	  	Communications with Obligors; Grantors Remain Liable	  	21

  

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	 	  	 	  	Page

	 6.3
	  	Pledged Stock	  	22
	 6.4
	  	Proceeds to be Turned Over To Administrative Agent	  	23
	 6.5
	  	Application of Proceeds	  	23
	 6.6
	  	Code and Other Remedies	  	24
	 6.7
	  	Registration Rights	  	24
	 6.8
	  	Deficiency	  	25
		
	 SECTION 7. THE ADMINISTRATIVE AGENT
	  	25
	 7.1
	  	Administrative Agent’s Appointment as Attorney-in-Fact, etc.	  	25
	 7.2
	  	Duty of Administrative Agent	  	27
	 7.3
	  	Execution of Financing Statements	  	27
	 7.4
	  	Authority of Administrative Agent	  	27
		
	 SECTION 8. MISCELLANEOUS
	  	28
	 8.1
	  	Amendments in Writing	  	28
	 8.2
	  	Notices	  	28
	 8.3
	  	No Waiver by Course of Conduct; Cumulative Remedies	  	28
	 8.4
	  	Enforcement Expenses; Indemnification	  	29
	 8.5
	  	Successors and Assigns	  	29
	 8.6
	  	Set-Off	  	29
	 8.7
	  	Counterparts	  	30
	 8.8
	  	Severability	  	30
	 8.9
	  	Section Headings	  	30
	 8.10
	  	Integration	  	30
	 8.11
	  	GOVERNING LAW	  	30
	 8.12
	  	Submission To Jurisdiction; Waivers	  	30
	 8.13
	  	Acknowledgements	  	31
	 8.14
	  	Additional Grantors	  	31
	 8.15
	  	Releases	  	31
	 8.16
	  	WAIVER OF JURY TRIAL	  	32

  

 ii 

 SCHEDULES 
  

			
	 Schedule 1
	  	Notice Addresses
	 Schedule 2
	  	Investment Property
	 Schedule 3
	  	Perfection Matters
	 Schedule 4
	  	Jurisdictions of Organization and Chief Executive Offices
	 Schedule 5
	  	Inventory and Equipment Locations
	 Schedule 6
	  	Intellectual Property
	 Schedule 7
	  	Contracts
	 Schedule 8
	  	Government Contracts
	 Schedule 9
	  	Commercial Tort Claims

  
 ANNEXES 
  

			
	 Annex 1
	  	Form of Assumption Agreement

  

 iii 

 GUARANTEE AND COLLATERAL AGREEMENT, dated as of January 27, 2005, made by each of the signatories hereto
(together with any other entity that may become a party hereto as provided herein, the “Grantors”), in favor of LEHMAN COMMERCIAL PAPER INC., as Administrative Agent (in such capacity, the “Administrative Agent”)
for the benefit of the Secured Parties (as defined below), including the banks and other financial institutions (the “Lenders”) from time to time parties to the Credit Agreement, dated as of January 27, 2005 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among Alliance Laundry Holdings LLC (“Holdings”), Alliance Laundry Systems LLC (the “Borrower”), the Lenders, LEHMAN
BROTHERS INC., as sole advisor, sole lead arranger and sole bookrunner (in such capacity, the “Arranger”), The Bank of Nova Scotia, as syndication agent (in such capacity, the “Syndication Agent”), LaSalle Bank
National Association and Royal Bank of Canada, as documentation agents (together, in such capacity, the “Documentation Agents”) and the Administrative Agent. 
  
 W I T N E S S E T H: 
  
 WHEREAS, pursuant to the Credit Agreement, the Lenders have severally agreed
to make loans and other extensions of credit to the Borrower upon the terms and subject to the conditions set forth therein; 
  
 WHEREAS, the Borrower is a member of an affiliated group of companies that includes each other Grantor; 
  
 WHEREAS, the proceeds of the extensions of credit under the Credit Agreement
will be used in part to enable the Borrower to make valuable transfers to one or more of the other Grantors in connection with the operation of their respective businesses; 
  
 WHEREAS, certain of the Qualified Counterparties may enter into Specified Hedge Agreements with one or more of the Grantors;

  
 WHEREAS, the Borrower and the other Grantors are engaged in
related businesses, and each Grantor will derive substantial direct and indirect benefit from (i) the making of the extensions of credit under the Credit Agreement and (ii) entering into the Specified Hedge Agreements; and 
  
 WHEREAS, it is a condition precedent to the obligation of (i) the Lenders to
make their respective extensions of credit to the Borrower under the Credit Agreement and (ii) the Qualified Counterparties to enter into the Specified Hedge Agreements, that the Grantors shall have executed and delivered this Agreement to the
Administrative Agent for the benefit of the Secured Parties and the Administrative Agent; 
  

 NOW, THEREFORE, in consideration of the premises and to induce the Administrative Agent and the Secured
Parties to enter into the Credit Agreement and the Specified Hedge Agreements and to induce the Secured Parties to make their respective extensions of credit or financial accommodations to the Borrower thereunder, each Grantor hereby agrees with the
Administrative Agent, for the benefit of the Secured Parties, as follows: 
  
 SECTION 1. DEFINED TERMS 
  
 1.1
Definitions. (a) Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement and the following terms are used herein as defined in the New York UCC:
Account, Certificated Security, Chattel Paper, Commercial Tort Claims, Equipment, Farm Products, General Intangibles, Instruments, Inventory, Letter-of-Credit Rights and Supporting Obligations. 
  
 (b) The following terms shall have the following meanings: 
  
 “Agreement”: this Guarantee and Collateral
Agreement, as the same may be amended, supplemented or otherwise modified from time to time. 
  
 “Borrower Credit Agreement Obligations”: the collective reference to the unpaid principal of and interest on the Loans
and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement
Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower,
whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter
incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, the other Loan Documents, any Letter of Credit or any other document made, delivered or given in connection therewith, in each case whether on
account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be
paid by the Borrower pursuant to the terms of any of the foregoing agreements). 
  
 “Borrower Hedge Agreement Obligations”: the collective reference to all obligations and liabilities of the Borrower
(including, without limitation, interest accruing at the then applicable rate provided in any Specified Hedge Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding,
relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to any Qualified Counterparty, whether direct or indirect, absolute or contingent, due or to become due, or now existing or
hereafter incurred, which may arise under, out of, or in connection with, any Specified Hedge Agreement or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement
obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the relevant Qualified Counterparty that are required to be paid by the Borrower pursuant to the terms of any
Specified Hedge Agreement). 
  
 “Borrower
Obligations”: the collective reference to (i) the Borrower Credit Agreement Obligations, (ii) the Borrower Hedge Agreement Obligations, but only to the extent that, and only so long as, the Borrower Credit Agreement Obligations are secured

  

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and guaranteed pursuant hereto, and (iii) all other obligations and liabilities of the Borrower, whether direct or indirect, absolute or contingent, due or
to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, this Agreement (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Secured Parties
that are required to be paid by the Borrower pursuant to the terms of this Agreement). 
  
 “Collateral”: as defined in Section 3. 
  
 “Collateral Account”: any collateral account established by the Administrative Agent as
provided in Section 6.1 or 6.4. 
  
 “Contracts”: the contracts and agreements listed in Schedule 7, as the same may be amended, supplemented or otherwise modified from time to time, including, without limitation, (i) all rights of any Grantor to
receive moneys due and to become due to it thereunder or in connection therewith, (ii) all rights of any Grantor to damages arising thereunder and (iii) all rights of any Grantor to perform and to exercise all remedies thereunder. 
  
 “Copyrights”: (i) with respect to any
Grantor, all of such Grantor’s right, title and interest in all copyrights arising under the laws of the United States, any other country or any political subdivision thereof, whether registered or unregistered and whether published or
unpublished (including, without limitation, those listed in Schedule 6), all registrations and recordings thereof, and all applications in connection therewith, including, without limitation, all registrations, recordings and applications in
the United States Copyright Office, and (ii) the right to obtain all renewals thereof. 
  
 “Copyright Licenses”: any written agreement naming any Grantor as licensor or licensee (including, without limitation,
those listed in Schedule 6), granting any right under any Copyright, including, without limitation, the grant of rights to manufacture, distribute, exploit and sell materials derived from any Copyright. 
  
 “Deposit Account”: as defined in the
Uniform Commercial Code of any applicable jurisdiction and, in any event, including, without limitation, any demand, time, savings, passbook or like account maintained with a depositary institution. 
  
 “Excluded Assets”: the collective reference
to (i) any Equipment, contract, General Intangible, Copyright License, Patent License or Trademark License, in each case to the extent the grant by the relevant Grantor of a security interest pursuant to this Agreement in such Grantor’s right,
title and interest in such asset (A) is prohibited by legally enforceable provisions of any contract, agreement, instrument or indenture governing such asset as permitted by the Credit Agreement, (B) would give any other party to such contract,
agreement, instrument or indenture a legally enforceable right to terminate its obligations thereunder or (C) is permitted only with the consent of another party, if the requirement to obtain such consent is legally enforceable and such consent has
not been obtained, (ii) Foreign Subsidiary Voting Stock excluded from the definition of “Pledged Stock” set forth in this Section 1.1 and (iii) any Receivables, equipment loans and related assets (including contract rights) sold or
transferred pursuant to Section 7.5 (m) of the Credit Agreement. 
  

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 “Foreign Subsidiary”: any Subsidiary organized under the laws of any
jurisdiction outside the United States of America. 
  
 “Foreign Subsidiary Voting Stock”: the voting Capital Stock of any Foreign Subsidiary. 
  
 “Guarantor Hedge Agreement Obligations”: the collective reference to all obligations and liabilities of a Guarantor
(including, without limitation, interest accruing at the then applicable rate provided in any Specified Hedge Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding,
relating to such Guarantor, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to any Qualified Counterparty, whether direct or indirect, absolute or contingent, due or to become due, or now existing or
hereafter incurred, which may arise under, out of, or in connection with, any Specified Hedge Agreement or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement
obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the relevant Qualified Counterparty that are required to be paid by such Guarantor pursuant to the terms of any
Specified Hedge Agreement). 
  
 “Guarantor Obligations”: with respect to any Guarantor, the collective reference to (i) any Guarantor Hedge Agreement Obligations of such Guarantor, but only to the extent that, and only so long as, the other Obligations of
such Guarantor are secured and guaranteed pursuant hereto, and (ii) all obligations and liabilities of such Guarantor which may arise under or in connection with this Agreement (including, without limitation, Section 2) or any other Loan Document to
which such Guarantor is a party, in each case whether on account of guarantee obligations, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the
Administrative Agent or to the Secured Parties that are required to be paid by such Guarantor pursuant to the terms of this Agreement or any other Loan Document). 
  
 “Guarantors”: the collective reference to each Grantor other than the Borrower. 

 
 “Intellectual Property”: the collective
reference to all rights, priorities and privileges relating to intellectual property, whether arising under United States, multinational or foreign laws or otherwise, including, without limitation, the Copyrights, the Copyright Licenses, the
Patents, the Patent Licenses, the Trademarks and the Trademark Licenses, and all rights to sue at law or in equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom. 
  
 “Intercompany Note”: any promissory note
evidencing loans made by any Grantor to Holdings or any of its Subsidiaries. 
  
 “Investment Property”: the collective reference to (i) all “investment property” as such term is defined in Section 9-102(a)(49) of the New York UCC in effect on the date hereof or at any
time hereafter (other than any Foreign Subsidiary Voting Stock excluded 

  

 4 

 
from the definition of “Pledged Stock”) and (ii) whether or not constituting “investment property” as so defined, all Pledged Notes and
all Pledged Stock. 
  
 “Issuers”: the collective reference to each issuer of any Investment Property pledged hereunder. 
  
 “New York UCC”: the Uniform Commercial Code as from time to time in effect in the State of New York. 
  
 “Obligations”: (i) in the case of the
Borrower, the Borrower Obligations, and (ii) in the case of each Guarantor, its Guarantor Obligations. 
  
 “Patents”: (i) with respect to any Grantor, all of such Grantor’s right, title and interest in all letters patent of
the United States, any other country or any political subdivision thereof, all reissues and extensions thereof, including, without limitation, any of the foregoing referred to in Schedule 6, (ii) with respect to any Grantor, all of such
Grantor’s right, title and interest in all applications for letters patent of the United States or any other country and all divisions, continuations and continuations-in-part thereof, including, without limitation, any of the foregoing
referred to in Schedule 6, and (iii) all rights to obtain any reissues or extensions of the foregoing. 
  
 “Patent License”: all agreements, whether written or oral, providing for the grant by or to any Grantor of any right to
manufacture, use or sell any invention covered in whole or in part by a Patent, including, without limitation, any of the foregoing referred to in Schedule 6. 
  
 “Pledged Notes”: all promissory notes listed on Schedule 2, all Intercompany Notes
at any time issued to any Grantor and all other promissory notes in an amount in excess of $100,000 issued to or held by any Grantor (including promissory notes issued in connection with loans or advances made by any Grantor to its customers but
excluding promissory notes issued in connection with extensions of trade credit by any Grantor in the ordinary course of business). 
  
 “Pledged Stock”: the shares of Capital Stock listed on Schedule 2, together with any other shares, stock
certificates, options or rights of any nature whatsoever in respect of the Capital Stock of any Person that may be issued or granted to, or held by, any Grantor while this Agreement is in effect; provided that in no event shall more than 65%
of the total outstanding Foreign Subsidiary Voting Stock of any Foreign Subsidiary be required to be pledged hereunder. 
  
 “Proceeds”: all “proceeds” as such term is defined in Section 9-102(a)(64) of the New York UCC and, in any
event, shall include, without limitation, all dividends and other income from the Investment Property, collections thereon and distributions or payments with respect thereto. 
  
 “Receivable”: any right to payment for goods sold or leased or for services rendered,
whether or not such right is evidenced by an Instrument or Chattel Paper and whether or not it has been earned by performance (including, without limitation, any Account), to the extent such right is owned by such Grantor. A Receivable shall not be

  

 5 

 
considered to be owned by a Grantor or as part of the Collateral if it has been transferred by such Grantor in a transaction which is intended to constitute
a sale or which results in derecognition of such Receivable from the financial statements of such Grantor. 
  
 “Secured Parties”: the collective reference to the Administrative Agent, the Lenders (including any Issuing Lender in its
capacity as Issuing Lender) and any Qualified Counterparty. 
  
 “Trademarks”: (i) with respect to any Grantor, all of such Grantor’s right, title and interest in all trademarks, trade names, corporate names, company names, business names, fictitious business
names, trade styles, service marks, logos and other source or business identifiers, and all goodwill associated therewith, now existing or hereafter adopted or acquired, all registrations and recordings thereof, and all applications in connection
therewith, whether in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country or any political subdivision thereof, and all common-law rights related thereto,
including, without limitation, any of the foregoing referred to in Schedule 6, and (ii) the right to obtain all renewals thereof. 
  
 “Trademark License”: any agreement, whether written or oral, providing for the grant by or to any Grantor of any right to
use any Trademark, including, without limitation, any of the foregoing referred to in Schedule 6. 
  
 1.2 Other Definitional Provisions. (a) The words “hereof,” “herein”, “hereto” and “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section and Schedule references are to this Agreement unless otherwise specified. 
  
 (b) The meanings given to terms defined herein shall be equally applicable to
both the singular and plural forms of such terms. 
  
 (c) Where
the context requires herein, terms relating to the Collateral or any part thereof, when used in relation to a Grantor, shall refer to such Grantor’s Collateral or the relevant part thereof. 
  
 (d) Where the context requires, any Hedge Agreement entered into by any
Grantor with any Lender or any Affiliate of any Lender shall, for purposes of this Agreement, be a “Loan Document” and any such Affiliate of a Lender shall, for purposes of this Agreement, be a “Lender” for purposes
of this Agreement. 
  
 SECTION 2. GUARANTEE 
  
 2.1 Guarantee. (a) (i) The Guarantors hereby, jointly and severally,
unconditionally and irrevocably, guarantee to the Administrative Agent, for the ratable benefit of the Secured Parties and their respective successors and assigns, the prompt and complete payment and performance by the Borrower when due (whether at
stated maturity, by acceleration 

  

 6 

 
or otherwise) of the Borrower Obligations (other than, in the case of each Guarantor, Borrower Obligations arising pursuant to clause (ii) of this Section
2.1(a) in respect of Guarantor Hedge Agreement Obligations in respect of which such Guarantor is a primary obligor). 
  
 (ii) The Borrower hereby unconditionally and irrevocably guarantees to the Administrative Agent, for the ratable benefit of the Secured Parties and their
respective successors, endorsees, transferees and assigns, the prompt and complete payment and performance by each Guarantor when due (whether at stated maturity, by acceleration or otherwise) of the Guarantor Hedge Agreement Obligations of such
Guarantor (other than any such obligation for which the Borrower is the primary obligor). 
  
 (b) Anything herein or in any other Loan Document to the contrary notwithstanding, (i) the maximum liability of each Guarantor hereunder and under the other Loan Documents shall in no event exceed the amount which can
be guaranteed by such Guarantor under applicable federal and state laws relating to fraudulent conveyances or transfers or the insolvency of debtors (after giving effect to the right of contribution established in Section 2.2) and (ii) the maximum
liability of the Borrower under this Section 2 shall in no event exceed the amount which can be guaranteed by the Borrower under applicable federal and state laws relating to fraudulent conveyances or transfers or the insolvency of debtors (after
giving effect to the right of contribution established in Section 2.2). 
  
 (c) (i) Each Guarantor agrees that the Borrower Obligations may at any time and from time to time exceed the amount of the liability of such Guarantor hereunder without impairing the guarantee of such Guarantor contained in this Section 2
or affecting the rights and remedies of the Administrative Agent or any Secured Party hereunder. 
  
 (ii) The Borrower agrees that the Guarantor Hedge Agreement Obligations may at any time and from time to time exceed the amount of the liability of the
Borrower under this Section 2 without impairing the guarantee of the Borrower contained in this Section 2 or affecting the rights and remedies of the Administrative Agent or any Secured Party hereunder. 
  
 (d) Subject to Section 8.15 hereof, the guarantee contained in this Section 2
shall remain in full force and effect until all the Borrower Obligations (other than Borrower Obligations arising under Section 2.1(a)(ii) hereof) and the obligations of each Guarantor under the guarantee contained in this Section 2 (other than
Guarantor Obligations in respect of Borrower Obligations arising under Section 2.1(a)(ii) hereof) shall have been satisfied by payment in full, no Letter of Credit shall be outstanding and the Commitments shall have been terminated, notwithstanding
that from time to time during the term of the Credit Agreement the Borrower may be free from any Borrower Obligations and any or all of the Guarantors may be free from their respective Guarantor Hedge Agreement Obligations. 
  
 (e) No payment made by the Borrower, any of the Guarantors, any other
guarantor or any other Person or received or collected by the Administrative Agent or any Secured Party from the Borrower, any of the Guarantors, any other guarantor or any other Person by virtue of any action or proceeding or any set-off or
appropriation or application at any time or from time to time in reduction of or in payment of the Borrower Obligations or the Guarantor Hedge Agreement Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of the
Borrower or any Guarantor hereunder which shall, notwithstanding any such payment (other than any payment made in respect of the Borrower Obligations or the Guarantor 

  

 7 

 
Hedge Agreement Obligations or any payment received or collected in respect of the Borrower Obligations or the Guarantor Hedge Agreement Obligations), remain
liable for the Borrower Obligations and the Guarantor Hedge Agreement Obligations up to the maximum liability of the Borrower or such Guarantor hereunder until the Borrower Obligations and the Guarantor Hedge Agreement Obligations are paid in full,
no Letter of Credit shall be outstanding and the Commitments are terminated. 
  
 2.2 Right of Contribution. (a) Each Subsidiary Guarantor hereby agrees that to the extent that a Subsidiary Guarantor shall have paid more than its proportionate share of any payment made hereunder or in
respect of Borrower Obligations, such Subsidiary Guarantor shall be entitled to seek and receive contribution from and against any other Subsidiary Guarantor hereunder which has not paid its proportionate share of such payment. 
  
 (b) The Borrower and each Guarantor agrees that to the extent that the
Borrower or any Guarantor shall have paid more than its proportionate share of any payment made hereunder in respect of any Guarantor Hedge Agreement Obligation of any other Guarantor, the Borrower or such Guarantor, as the case may be, shall be
entitled to seek and receive contribution from and against the Borrower and any other Guarantor which has not paid its proportionate share of such payment. 
  
 (c) The Borrower’s and each Guarantor’s right of contribution under this Section 2.2 shall be subject to the terms and conditions of Section
2.3. The provisions of this Section 2.2 shall in no respect limit the obligations and liabilities of the Borrower or any Guarantor to the Administrative Agent and the Secured Parties, and the Borrower and each Guarantor shall remain liable to the
Administrative Agent and the Secured Parties for the full amount guaranteed by the Borrower or such Guarantor hereunder. 
  
 2.3 No Subrogation. Notwithstanding any payment made by the Borrower or any Guarantor hereunder or any set-off or application of funds of the
Borrower or any Guarantor by the Administrative Agent or any Secured Party, neither the Borrower nor any Guarantor shall be entitled to be subrogated to any of the rights of the Administrative Agent or any Secured Party against the Borrower or any
other Guarantor or any collateral security or guarantee or right of offset held by the Administrative Agent or any Secured Party for the payment of the Borrower Obligations or the Guarantor Hedge Agreement Obligations, nor shall the Borrower or any
Guarantor seek or be entitled to seek any contribution or reimbursement from the Borrower or any other Guarantor in respect of payments made by the Borrower or such Guarantor hereunder, until all amounts owing to the Administrative Agent and the
Secured Parties by the Borrower on account of the Borrower Obligations and the Guarantor Hedge Agreement Obligations are paid in full, no Letter of Credit shall be outstanding and the Commitments are terminated. If any amount shall be paid to the
Borrower or any Guarantor on account of such subrogation rights at any time when the Commitments shall not have terminated, any Letter of Credit shall be outstanding or any amounts owing in respect of the Borrower Obligations shall not have been
paid in full, such amount shall be held by the Borrower or such Guarantor in trust for the Administrative Agent and the Secured Parties, segregated from other funds of the Borrower or such Guarantor, and shall, forthwith upon receipt by the Borrower
or such Guarantor, be turned over to the Administrative Agent in the exact form received by the Borrower or such Guarantor (duly indorsed by the Borrower or such Guarantor to the Administrative Agent, if required), to be applied against the Borrower
Obligations or the Guarantor Hedge Agreement Obligations, whether matured or unmatured, in such order as the Administrative Agent may determine. 
  

 8 

 2.4 Amendments, etc. with respect to the Borrower Obligations. To the extent permitted by law, the
Borrower (with respect to its guarantee hereunder) and each Guarantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against the Borrower or any Guarantor and without notice to or further assent by the
Borrower or any Guarantor, any demand for payment of any of the Borrower Obligations or Guarantor Hedge Agreement Obligations made by the Administrative Agent or any Secured Party may be rescinded by the Administrative Agent or such Secured Party
and any of the Borrower Obligations or Guarantor Hedge Agreement Obligations continued, and the Borrower Obligations or Guarantor Hedge Agreement Obligations, or the liability of any other Person upon or for any part thereof, or any collateral
security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent or
any Secured Party (with the consent of such of the Borrower and the Guarantors as shall be required thereunder), and the Specified Hedge Agreements, the Credit Agreement and the other Loan Documents and any other documents executed and delivered in
connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent (or the requisite Lenders, as the case may be) may (with the consent of such of the Borrower and the Guarantors as shall be
required thereunder) deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Administrative Agent or any Secured Party for the payment of the Borrower Obligations or Guarantor Hedge
Agreement Obligations may (with the consent of such of the Borrower and the Guarantors as shall be required thereunder) be sold, exchanged, waived, surrendered or released. Neither the Administrative Agent nor any Secured Party shall, except to the
extent set forth in, and for the benefit of the parties to, the agreements and instruments governing such Lien or guarantee, have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Borrower
Obligations or the Guarantor Hedge Agreement Obligations or for the guarantee contained in this Section 2 or any property subject thereto. 
  
 2.5 Guarantee Absolute and Unconditional. (a) Each Guarantor waives, to the extent permitted by law, any and all notice of the creation, renewal,
extension or accrual of any of the Borrower Obligations (other than any notice with respect to any Guarantor Hedge Agreement Obligation with respect to which such Guarantor is a primary obligor and to which it is entitled pursuant to the applicable
Specified Hedge Agreement) and notice of or proof of reliance by the Administrative Agent or any Secured Party upon the guarantee contained in this Section 2 or acceptance of the guarantee contained in this Section 2; the Borrower Obligations, and
any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee contained in this Section 2; and all dealings between the Borrower and any of the
Guarantors, on the one hand, and the Administrative Agent and the Secured Parties, on the other hand, likewise shall be conclusively presumed to have been had or consummated in reliance upon the guarantee contained in this Section 2. Each Guarantor
waives, to the extent permitted by law, diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Borrower or any of the Guarantors with respect to the Borrower Obligations (other than any diligence,
presentment, protest, demand or notice with respect to any Guarantor Hedge Agreement Obligation with respect to which such Guarantor is a primary obligor and to which it is entitled pursuant to the applicable Specified Hedge Agreement). Each
Guarantor understands and agrees, to the extent permitted by law, that the guarantee contained in this Section 2 shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (a) 

  

 9 

 
the validity or enforceability of the Credit Agreement or any other Loan Document, any of the Borrower Obligations or any other collateral security therefor
or guarantee or right of offset with respect thereto at any time or from time to time held by the Administrative Agent or any Secured Party, (b) any defense, set-off or counterclaim (other than a defense of payment or performance) which may at any
time be available to or be asserted by the Borrower or any other Person against the Administrative Agent or any Secured Party, or (c) any other circumstance whatsoever (with or without notice to or knowledge of the Borrower or such Guarantor) which
constitutes, or might be construed to constitute, an equitable or legal discharge of the Borrower from the Borrower Obligations, or of such Guarantor under the guarantee contained in this Section 2, in bankruptcy or in any other instance. When
making any demand hereunder or otherwise pursuing its rights and remedies hereunder against any Guarantor, the Administrative Agent or any Secured Party may, but shall be under no obligation to, make a similar demand on or otherwise pursue such
rights and remedies as it may have against the Borrower, any other Guarantor or any other Person or against any collateral security or guarantee for the Borrower Obligations or any right of offset with respect thereto, and any failure by the
Administrative Agent or any Secured Party to make any such demand, to pursue such other rights or remedies or to collect any payments from the Borrower, any other Guarantor or any other Person or to realize upon any such collateral security or
guarantee or to exercise any such right of offset, or any release of the Borrower, any other Guarantor or any other Person or any such collateral security, guarantee or right of offset, shall not relieve any Guarantor of any obligation or liability
hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law, of the Administrative Agent or any Secured Party against any Guarantor. For the purposes hereof “demand” shall
include the commencement and continuance of any legal proceedings. 
  
 (b) The Borrower waives any and all notice of the creation, renewal, extension or accrual of any of the Guarantor Hedge Agreement Obligations (other than any notice with respect to any Guarantor Hedge Agreement Obligation with respect to
which the Borrower is a primary obligor and to which it is entitled pursuant to the applicable Specified Hedge Agreement) and notice of or proof of reliance by the Administrative Agent or any Secured Party upon the guarantee by the Borrower
contained in this Section 2 or acceptance of the guarantee by the Borrower contained in this Section 2; the Guarantor Hedge Agreement Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or
renewed, extended, amended or waived, in reliance upon the guarantee by the Borrower contained in this Section 2; and all dealings between the Borrower and any of the Guarantors, on the one hand, and the Administrative Agent and the Secured Parties,
on the other hand, with respect to any Guarantor Hedge Agreement Obligation likewise shall be conclusively presumed to have been had or consummated in reliance upon the guarantee by the Borrower contained in this Section 2. The Borrower waives
diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Borrower with respect to the Guarantor Hedge Agreement Obligations (other than any diligence, presentment, protest, demand or notice with respect
to any Guarantor Hedge Agreement Obligation with respect to which the Borrower is a primary obligor and to which it is entitled pursuant to the applicable Specified Hedge Agreement). The Borrower understands and agrees that the guarantee by the
Borrower contained in this Section 2 shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (a) the validity or enforceability of the Guarantor Hedge Agreement Obligations or any other collateral
security therefor or guarantee or right of offset with respect thereto at any time or from time to time held by the Administrative Agent or any Secured Party, (b) any defense, set-off or counterclaim (other than a defense of payment or performance)
which may at any time be 

  

 10 

 
available to or be asserted by any Person against the Administrative Agent or any Secured Party, or (c) any other circumstance whatsoever (with or without
notice to or knowledge of the Borrower or any Guarantor) which constitutes, or might be construed to constitute, an equitable or legal discharge of the applicable Guarantor for the applicable Guarantor Hedge Agreement Obligations, or of the Borrower
under its guarantee contained in this Section 2, in bankruptcy or in any other instance. When making any demand under this Section 2 or otherwise pursuing its rights and remedies under this Section 2 against the Borrower, the Administrative Agent or
any Secured Party may, but shall be under no obligation to, make a similar demand on or otherwise pursue such rights and remedies as it may have against any Guarantor or any other Person or against any collateral security or guarantee for the
Guarantor Hedge Agreement Obligations or any right of offset with respect thereto, and any failure by the Administrative Agent or any Secured Party to make any such demand, to pursue such other rights or remedies or to collect any payments from any
Guarantor or any other Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of any Guarantor or any other Person or any such collateral security, guarantee or right of offset,
shall not relieve the Borrower of any obligation or liability under this Section 2, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law, of the Administrative Agent or any Secured Party
against the Borrower under this Section 2. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings. 
  

2.6 Reinstatement. The guarantee contained in this Section 2 shall continue to be effective, or be reinstated, as the case may be, if at any
time payment, or any part thereof, of any of the Borrower Obligations or Guarantor Hedge Agreement Obligations is rescinded or must otherwise be restored or returned by the Administrative Agent or any Secured Party upon the insolvency, bankruptcy,
dissolution, liquidation or reorganization of the Borrower or any Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any Guarantor or any substantial
part of its property, or otherwise, all as though such payments had not been made. 
  
 2.7 Payments. The Borrower and each Guarantor hereby guarantees that payments hereunder will be paid to the Administrative Agent without set-off or counterclaim (i) in the case of obligations in respect of
Borrower Obligations arising under the Credit Agreement or any other Loan Document in Dollars at the Payment Office specified in the Credit Agreement and (ii) in the case of obligations in respect of any Borrower Hedge Agreement Obligations or any
Guarantor Hedge Agreement Obligations, in the currency and at the place specified in the applicable Specified Hedge Agreement. 
  
 SECTION 3. GRANT OF SECURITY INTEREST 
  
 Each Grantor hereby grants to the Administrative Agent, for the ratable benefit of the Administrative Agent and the Secured Parties, a security interest
in, all of the following property now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest (collectively, the “Collateral”),
as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of such Grantor’s Obligations: 
  

	 	(a)	all Accounts; 

  

 11 

	 	(b)	all Chattel Paper; 

  

	 	(c)	all Commercial Tort Claims; 

  

	 	(d)	all Contracts; 

  

	 	(e)	all Deposit Accounts; 

  

	 	(f)	all Documents; 

  

	 	(g)	all Equipment; 

  

	 	(h)	all General Intangibles; 

  

	 	(i)	all Instruments; 

  

	 	(j)	all Intellectual Property; 

  

	 	(k)	all Inventory; 

  

	 	(l)	all Investment Property; 

  

	 	(m)	all Letter-of-Credit Rights; 

  

	 	(n)	all books and records pertaining to the Collateral; and 

  

	 	(o)	to the extent not otherwise included, all Proceeds, Supporting Obligations and products of any and all of the foregoing and all collateral security and guarantees given by any
Person with respect to any of the foregoing; 

  
 provided,
that (i) the Collateral shall not include any Excluded Assets and (ii) no Lien shall be granted in any Property subject to a Lien expressly permitted by Section 7.3 (g), 7.3(k), 7.3(n), 7.3 (p), 7.3 (q), 7.3 (r), 7.3 (v), or 7.3 (w) to the extent
the terms of the agreements with respect to such Liens prohibit the granting of a Lien for the benefit of the Secured Parties on such Property. 
  
 SECTION 4. REPRESENTATIONS AND WARRANTIES 
  
 To induce the Administrative Agent and the Secured Parties to enter into the Credit Agreement and the Specified Hedge Agreements and to induce the Secured
Parties to make their respective extensions of credit or financial accommodations to the Borrower thereunder, each Grantor hereby represents and warrants to the Administrative Agent and each Secured Party that: 
  
 4.1 Representations in Credit Agreement. 
  
 In the case of each Guarantor, the representations and warranties set forth
in Section 4 of the Credit Agreement as they relate to such Guarantor or to the Loan Documents to 

  

 12 

 
which such Guarantor is a party, each of which representations and warranties is hereby incorporated herein by reference, are true and correct in all
material respects, and the Administrative Agent and each Lender shall be entitled to rely on each of them as if they were fully set forth herein, provided that each reference in each such representation and warranty to the Borrower’s knowledge
shall, for the purposes of this Section 4.1, be deemed to be a reference to such Guarantor’s knowledge. 
  
 4.2 No Other Liens. 
  
 Except for the security interest granted to the Administrative Agent for the ratable benefit of the Administrative Agent and the Secured Parties pursuant
to this Agreement and the other Liens permitted to exist on the Collateral by the Credit Agreement, all of such Grantor’s Collateral is free and clear of any and all Liens or claims of others. 
  
 4.3 Perfected First Priority Liens. The security interests granted
pursuant to this Agreement (a) upon completion of the filings and other actions specified on Schedule 3 (which, in the case of all filings and other documents referred to on said Schedule, have been delivered to the Administrative Agent in completed
and duly executed form) and completion of any filings that may be required after the date hereof will constitute valid perfected security interests in all of the UCC Filing Collateral in favor of the Administrative Agent, for the ratable benefit of
the Administrative Agent and the Secured Parties, as collateral security for such Grantor’s Obligations, enforceable in accordance with the terms hereof against all creditors of such Grantor and any Persons purporting to purchase any such
Collateral from such Grantor (other than (i) with respect to goods only, buyers in the ordinary course of business and lessees in the ordinary course of business to the extent provided in Sections 9-320(a) and 9-321 of the Uniform Commercial Code as
in effect from time to time in the relevant jurisdiction, (ii) with respect to general intangibles only, licensees in the ordinary course of business to the extent provided in Section 9-321 of the Uniform Commercial Code as in effect from time to
time in the relevant jurisdiction and (iii) any other Person who is entitled to take free of the Lien pursuant to the Uniform Commercial Code as in effect from time to time in the relevant jurisdiction) subject to the effects of bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied
covenant of good faith and fair dealing and (b) are prior to all other Liens on such Collateral other than Liens permitted under Section 7.3 of the Credit Agreement. 
  
 4.4 Jurisdiction of Organization; Chief Executive Office. On the date hereof, such Grantor’s jurisdiction of
organization, identification number from the jurisdiction of organization (if any), and the location of such Grantor’s chief executive office or sole place of business or principal residence, as the case may be, are specified on Schedule 4.
Such Grantor has furnished to the Administrative Agent a certified charter, certificate of incorporation or other organization document and long-form good standing certificate as of a date which is recent to the date hereof. 
  
 4.5 Inventory and Equipment. On the date hereof, such Grantor’s
Inventory and Equipment (other than motor vehicles and mobile goods) are kept at the locations listed on Schedule 5. 
  
 4.6 Farm Products. None of the Collateral constitutes, or is the Proceeds of, Farm Products. 
  

 13 

 4.7 Investment Property. (a) The shares of Pledged Stock pledged by such Grantor hereunder
constitute all the issued and outstanding shares of all classes of the Capital Stock of each Issuer (other than Alliance Commercial Appliances Receivables LLC and Alliance Commercial Appliances Finance LLC) owned by such Grantor or, in the case of
Foreign Subsidiary Voting Stock, if less, 65% of the outstanding Foreign Subsidiary Voting Stock of each relevant Issuer. 
  
 (b) All the shares of the Pledged Stock of any issuer that is a corporation have been duly and validly issued and are fully paid and nonassessable.

  
 (c) To the best of such Grantor’s knowledge, each of the
Pledged Notes constitutes the legal, valid and binding obligation of the obligor with respect thereto, enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 
  
 (d) Such Grantor is the record and beneficial owner of, and has good and
marketable title to, the Investment Property pledged by it hereunder, free of any and all Liens or options in favor of, or claims of, any other Person, except the security interest created by this Agreement and other Liens permitted under Section
7.3 of the Credit Agreement. 
  
 4.8 Receivables. (a) No
amount payable to such Grantor under or in connection with any Receivable is evidenced by any Instrument or Chattel Paper (to the extent the amount of any such Instrument or Chattel Paper exceeds $100,000) which has not been delivered to the
Administrative Agent, except for Receivables which such Grantor expects to transfer within 90 days of the date of the origination of such Receivables pursuant to a Permitted Receivables Financing. 
  
 (b) Except as set forth on Schedule 8, as of the date hereof, none of
the obligors on any Receivables is a Governmental Authority. 
  
 (c) The amounts represented by such Grantor to the Administrative Agent and the Secured Parties from time to time as owing to such Grantor in respect of the Receivables will at such times be accurate in all material respects. 
  
 4.9 Contracts. (a) No consent of any party (other than such Grantor)
to any Contract is required, or purports to be required, in connection with the execution, delivery and performance of this Agreement. 
  
 (b) Each Contract is in full force and effect and constitutes a valid and legally enforceable obligation of the Grantors party thereto, subject to the
effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at
law) and an implied covenant of good faith and fair dealing. 
  
 (c) No material consent or material authorization of, filing with, or other act by or in respect of, any Governmental Authority is required in connection with the execution, delivery, performance, validity or enforceability of any of the
Contracts by any Grantor party 

  

 14 

 
thereto other than those which have been duly obtained, made or performed, are in full force and effect and do not subject the scope of any such Contract to
any material adverse limitation, either specific or general in nature. 
  
 (d) As of the Effective Date, neither such Grantor nor (to the best of such Grantor’s knowledge) any of the other parties to the Contracts is in default in the performance or observance of any of the terms thereof in any manner that,
in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
  
 (e) The right, title and interest of such Grantor in, to and under the Contracts are not subject to any defenses, offsets, counterclaims or claims that, in the aggregate, could reasonably be expected to have a
Material Adverse Effect. 
  
 (f) As of the date hereof, such
Grantor has delivered to the Administrative Agent a complete and correct copy of each Contract, including all amendments, supplements and other modifications thereto. 
  
 (g) No amount payable to such Grantor under or in connection with any Contract is evidenced by any Instrument or Chattel
Paper (to the extent the amount of any such Instrument or Chattel Paper exceeds $100,000) which has not been delivered to the Administrative Agent. 
  
 (h) None of the parties to any Contract is a Governmental Authority. 
  
 4.10 Intellectual Property. (a) Schedule 6 lists all registered Intellectual Property owned by such Grantor in
its own name on the date hereof. 
  
 (b) On the date hereof, to
such Grantor’s knowledge, all material Intellectual Property owned by such Grantor is valid, subsisting, unexpired and enforceable, has not been abandoned and does not infringe the intellectual property rights of any other Person, except in
each case as could not reasonably be expected to have a Material Adverse Effect. 
  
 (c) Except as set forth in Schedule 6, on the date hereof, none of the material Intellectual Property used by such Grantor in its business is the subject of any licensing or franchise agreement pursuant to
which such Grantor is the licensor or franchisor. 
  
 (d) No
holding, decision or judgment has been rendered by any Governmental Authority which would directly limit, cancel or question the validity of, or such Grantor’s rights in, any Intellectual Property in any respect that could reasonably be
expected to have a Material Adverse Effect. 
  
 (e) No action or
proceeding is pending, or, to the knowledge of such Grantor, threatened, on the date hereof (i) seeking to limit, cancel or question the validity of any Intellectual Property owned by such Grantor or such Grantor’s ownership interest therein,
and (ii) which, if adversely determined, could reasonably be expected to have a Material Adverse Effect. 
  
 4.11 Commercial Tort Claims. Schedule 9 is a complete and correct description of all Commercial Tort Claims owned by such Grantor on the
date hereof. 
  

 15 

 SECTION 5. COVENANTS 
  
 Each Grantor covenants and agrees with the Administrative Agent and the Secured Parties that so long as the Commitments
remain in effect, any Letter of Credit (which has not been cash collateralized in the manner described in the final paragraph of Section 8 of the Credit Agreement) remains outstanding or any Loan or other amount is owing (including, without
limitation, accrued interest and fees) to any Lender (as defined in the Credit Agreement) or the Administrative Agent hereunder. 
  
 5.1 Covenants in Credit Agreement. In the case of each Guarantor, such Guarantor shall take, or shall refrain from taking, as the case may be, each
action that is necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action by such Guarantor or any of its Subsidiaries.

  
 5.2 Delivery of Instruments, Certificated Securities and
Chattel Paper. Except for Receivables which any Grantor reasonably expects to transfer within 90 days of the date of origination of such Receivables pursuant to a Permitted Receivables Financing, if any amount payable under or in connection with
any of the Collateral shall be or become evidenced by any Instrument, Certificated Security or Chattel Paper (to the extent that the amount of such Instrument or Chattel Paper exceeds $100,000), such Instrument, Certificated Security or Chattel
Paper shall be immediately delivered to the Administrative Agent, duly indorsed in a manner satisfactory to the Administrative Agent, to be held as Collateral pursuant to this Agreement. 
  
 5.3 Maintenance of Insurance. (a) Such Grantor will maintain, with financially sound and reputable companies,
insurance policies (i) insuring the Inventory and Equipment against loss by fire, explosion, theft and such other casualties as may be reasonably satisfactory to the Administrative Agent and (ii) to the extent requested by the Administrative Agent,
insuring such Grantor, the Administrative Agent and the Secured Parties against liability for personal injury and property damage relating to such Inventory and Equipment, such policies to be in such form and amounts and having such coverage as may
be reasonably satisfactory to the Administrative Agent. 
  
 (b)
All such insurance shall (i) provide that no cancellation, material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the Administrative Agent of written notice thereof, (ii) name
the Administrative Agent as insured party or loss payee, (iii) if reasonably requested by the Administrative Agent, include a breach of warranty clause and (iv) be reasonably satisfactory in all other respects to the Administrative Agent.

  
 (c) The Borrower shall deliver to the Administrative Agent and
the Lenders a report of a reputable insurance broker with respect to such insurance as the Administrative Agent may from time to time reasonably request. 
  
 5.4 Payment of Obligations. Such Grantor will pay and discharge or otherwise satisfy at or before maturity or before they become delinquent, as the
case may be, all taxes, assessments and governmental charges or levies imposed upon such Grantor’s Collateral, as well as all claims of any kind (including, without limitation, claims for labor, materials and supplies) against or with respect
to such Grantor’s Collateral, except (a) that no such charge need 

  

 16 

 
be paid if the amount or validity thereof is currently being contested in good faith by appropriate proceedings, reserves in conformity with GAAP with
respect thereto have been provided on the books of such Grantor or (b) where the failure to pay, discharge or otherwise satisfy such obligations could not, individually or in the aggregate, reasonably be expected to result in the sale, forfeiture or
loss of any material portion of the Collateral or any interest therein, other than as a result of a Lien permitted under Section 7.3 of the Credit Agreement. 
  
 5.5 Maintenance of Perfected Security Interest; Further Documentation. (a) Such Grantor shall maintain the security interest created by this
Agreement as a valid security interest having at least the priority described in Section 4.3 and shall defend such security interest against the claims and demands of all Persons whomsoever. 
  
 (b) Such Grantor will furnish to the Administrative Agent and the Lenders
from time to time statements and schedules further identifying and describing the assets and property of such Grantor and such other reports in connection therewith as the Administrative Agent may reasonably request, all in reasonable detail.

  
 (c) At any time and from time to time, upon the written
request of the Administrative Agent, and at the sole expense of such Grantor, such Grantor will promptly and duly execute and deliver, and have recorded, such further instruments and documents and take such further actions as the Administrative
Agent may reasonably request for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights and powers herein granted, including, without limitation, (i) the filing of any financing or continuation statements under
the Uniform Commercial Code (or other similar laws) in effect in any jurisdiction with respect to the security interests created hereby and (ii) in the case of Investment Property, Deposit Accounts, Letter of Credit Rights and any other relevant
Collateral, taking any actions necessary to enable the Administrative Agent to obtain “control” (within the meaning of the applicable Uniform Commercial Code) with respect thereto, provided that no such action shall be required with
respect to Deposit Accounts unless an Event of Default shall have occurred and be continuing. 
  
 5.6 Changes in Locations, Name, etc. Such Grantor will not, except upon 15 days’ prior written notice to the Administrative Agent and delivery to the Administrative Agent of all additional executed
financing statements and other documents reasonably requested by the Administrative Agent to maintain the validity, perfection and priority of the security interests provided for herein: 
  
 (i) change its jurisdiction of organization or the location of its chief executive office or sole place of
business from that referred to in Section 4.4; or 
  
 (ii) change its name. 
  
 5.7 Notices. Such
Grantor will advise the Administrative Agent and the Lenders promptly, in reasonable detail, of: 
  
 (a) any Lien (other than security interests created hereby or Liens permitted under the Credit Agreement) on any of such Grantor’s Collateral which
would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder; and 
  

 17 

 (b) the occurrence of any other event which could reasonably be expected to have a material adverse
effect on the aggregate value of such Grantor’s Collateral or on the security interests created hereby. 
  
 5.8 Investment Property. (a) If such Grantor shall become entitled to receive or shall receive any stock certificate (including, without
limitation, any certificate representing a stock dividend or a distribution in connection with any reclassification, increase or reduction of capital or any certificate issued in connection with any reorganization), option or rights in respect of
the Capital Stock of any Issuer, whether in addition to, in substitution of, as a conversion of, or in exchange for, any shares of the Pledged Stock, or otherwise in respect thereof, such Grantor shall accept the same as the agent of the
Administrative Agent and the Secured Parties, hold the same in trust for the Administrative Agent and the Secured Parties and deliver the same forthwith to the Administrative Agent in the exact form received, duly indorsed by such Grantor to the
Administrative Agent, if required, together with an undated stock power covering such certificate duly executed in blank by such Grantor and with, if the Administrative Agent so requests, signature guaranteed, to be held by the Administrative Agent,
subject to the terms hereof, as additional collateral security for the Obligations provided that in no event shall there be pledged, nor shall any Grantor be required to pledge, more than 65% of the Foreign Subsidiary Voting Stock in any Foreign
Subsidiary. Any sums paid upon or in respect of the Investment Property upon the liquidation or dissolution of any Issuer (other than a liquidation or dissolution permitted under the Credit Agreement) shall be paid over to the Administrative Agent
to be held by it hereunder as additional collateral security for the Obligations, and in case any distribution of capital shall be made on or in respect of the Investment Property or any property shall be distributed upon or with respect to the
Investment Property, in either case, pursuant to the recapitalization or reclassification of the capital of any Issuer or pursuant to the reorganization thereof, the property so distributed shall, unless otherwise subject to a perfected security
interest in favor of the Administrative Agent, be delivered to the Administrative Agent to be held by it hereunder as additional collateral security for the Obligations. If any sums of money or property so paid or distributed in respect of the
Investment Property shall be received by such Grantor, such Grantor shall, until such money or property is paid or delivered to the Administrative Agent, hold such money or property in trust for the Administrative Agent and the Secured Parties,
segregated from other funds of such Grantor, as additional collateral security for the Obligations. 
  
 (b) Without the prior written consent of the Administrative Agent, such Grantor will not (i) vote to enable, or take any other action to permit, any
Issuer to issue any stock or other equity securities of any nature or to issue any other securities convertible into or granting the right to purchase or exchange for any stock or other equity securities of any nature of any Issuer unless such stock
or other securities are subject to a perfected security interest hereunder, (ii) sell, assign, transfer, exchange, or otherwise dispose of, or grant any option with respect to, the Investment Property or the Proceeds thereof (except pursuant to a
transaction expressly permitted by the Credit Agreement), (iii) create, incur or permit to exist any Lien or option in favor of, or any claim of any Person with respect to, any of the Investment Property or the Proceeds thereof, or any interest
therein, except for the security interests created by this Agreement or as otherwise permitted under Section 7.3 of the Credit Agreement or (iv) enter into any agreement or undertaking restricting the right or ability of such Grantor or the
Administrative Agent to sell, assign or transfer any of the Investment Property or the Proceeds thereof, other than the Senior Subordinated Note Indenture (or any other indenture governing 

  

 18 

 
Indebtedness permitted under Section 7.2(f) of the Credit Agreement) or any agreement described in Section 7.13 of the Credit Agreement. 
  
 (c) In the case of each Grantor which is an Issuer, such Issuer agrees that
(i) it will be bound by the terms of this Agreement relating to the Investment Property issued by it and will comply with such terms insofar as such terms are applicable to it, (ii) it will notify the Administrative Agent promptly in writing of the
occurrence of any of the events described in Section 5.8(a) with respect to the Investment Property issued by it, (iii) the terms of Sections 6.3(c) and 6.7 shall apply to it, mutatis mutandis, with respect to all actions that may be
required of it pursuant to Section 6.3(c) or 6.7 with respect to the Investment Property issued by it and (iv) if an Event of Default has occurred and is continuing, it will comply with instructions originated by the Administrative Agent with
respect to Investment Property issued by it without any further consent of the owner thereof. 
  
 (d) No Grantor shall permit any other Person (other than the Administrative Agent) to exercise or obtain “control” within the meaning of Section 8-106 of the New York UCC in effect on the date hereof or at
any time hereafter) in connection with any Lien of any of its Investment Property (including Cash Equivalents) in connection with the grant of a Lien by such Grantor to or for the benefit of such Person or any other Person (other than the
Administrative Agent) except as otherwise permitted under Section 7.3 of the Credit Agreement. 
  
 5.9 Receivables. (a) Other than in the ordinary course of business, such Grantor will not (i) grant any extension of the time of payment of any material Receivable, (ii) compromise or settle any material
Receivable for a materially lesser amount thereof, (iii) release, wholly or partially in any material respect, any Person liable for the payment of any material Receivable, (iv) allow any material credit or discount whatsoever on any material
Receivable or (v) amend, supplement or modify any material Receivable in any manner that could materially adversely affect the value thereof. 
  
 (b) Such Grantor will deliver to the Administrative Agent a copy of each material demand, notice or document received by it that questions or calls into
doubt the validity or enforceability of more than 5% of the aggregate amount of the then outstanding Receivables. 
  
 5.10 Intellectual Property. (a) Such Grantor (either itself or through licensees) will (i) subject to such Grantor’s reasonable business
judgment, continue to use each material Trademark on each and every trademark class of goods applicable to its current line as reflected in its current catalogs, brochures and price lists in order to maintain such Trademark in full force free from
any claim of abandonment for non-use, (ii) subject to such Grantor’s reasonable business judgment, maintain as in the past the quality of products and services offered under such Trademark, (iii) use such Trademark with the appropriate notice
of registration and all other notices and legends required by applicable Requirements of Law, (iv) not adopt or use any mark which is confusingly similar or a colorable imitation of such Trademark unless the Administrative Agent, for the ratable
benefit of the Administrative Agent and the Secured Parties, shall obtain a perfected security interest in such mark pursuant to this Agreement, and (v) subject to such Grantor’s reasonable business judgment, not (and not permit any licensee or
sublicensee thereof to) do any act or knowingly omit to do any act whereby such Trademark may become invalidated or impaired in any way. 
  

 19 

 (b) Subject to such Grantor’s reasonable business judgment, such Grantor (either itself or through
licensees) will not do any act, or omit to do any act, whereby any material Patent may become forfeited, abandoned or dedicated to the public. 
  
 (c) Subject to such Grantor’s reasonable business judgment, such Grantor (either itself or through licensees) will not (and will not permit any
licensee or sublicensee thereof to) do any act or knowingly omit to do any act whereby any material Copyrights may become invalidated or otherwise impaired. Subject to such Grantor’s reasonable business judgment, such Grantor will not (either
itself or through licensees) do any act whereby any material portion of the Copyrights may fall into the public domain. 
  
 (d) Such Grantor (either itself or through licensees) will not do any act that knowingly uses any material Intellectual Property to infringe the
intellectual property rights of any other Person. 
  
 (e) Such
Grantor will notify the Administrative Agent and the Lenders promptly if it knows, or has reason to know, that any application or registration relating to any material Patents, Trademarks or Copyrights may become forfeited, abandoned or dedicated to
the public, or of any adverse determination or development (including, without limitation, the institution of, or any such determination or development in, any proceeding in the United States Patent and Trademark Office, the United States Copyright
Office or any court or tribunal in any country) regarding such Grantor’s ownership of, or the validity of, any material Intellectual Property or such Grantor’s right to register the same or to own and maintain the same. 
  
 (f) Whenever such Grantor, either by itself or through any agent, employee,
licensee or designee, shall file an application for the registration of any Patent, Trademark or Copyright with the United States Patent and Trademark Office, the United States Copyright Office or any similar office or agency in any other country or
any political subdivision thereof, such Grantor shall report such filing to the Administrative Agent within ten Business Days after the last day of the fiscal quarter in which such filing occurs. Upon request of the Administrative Agent, such
Grantor shall execute and deliver, and have recorded, any and all agreements, instruments, documents, and papers as the Administrative Agent may request to evidence the Administrative Agent’s and the Secured Parties’ security interest in
any Copyright, Patent or Trademark and the goodwill and General Intangibles of such Grantor relating thereto or represented thereby. 
  
 (g) Such Grantor will take all reasonable and necessary steps, including, without limitation, in any proceeding before the United States Patent and
Trademark Office, the United States Copyright Office or any similar office or agency in any other country or any political subdivision thereof, to maintain and pursue each application (and to obtain the relevant registration) and to maintain each
registration of the material Intellectual Property, including, without limitation, filing of applications for renewal, affidavits of use and affidavits of incontestability. 
  
 (h) In the event that any material Intellectual Property is infringed, misappropriated or diluted by a third party, such
Grantor shall (i) take such actions as such Grantor shall reasonably deem appropriate under the circumstances to protect such Intellectual Property and (ii) if such Intellectual Property is of material economic value, promptly notify the
Administrative Agent after it learns thereof and subject to its reasonable business judgment sue 

  

 20 

 
for infringement, misappropriation or dilution, to seek injunctive relief where appropriate and to recover any and all damages for such infringement,
misappropriation or dilution. 
  
 SECTION 6. REMEDIAL PROVISIONS

  
 6.1 Certain Matters Relating to Receivables. (a) After
the occurrence and during the continuation of any Event of Default, the Administrative Agent shall have the right to make test verifications of the Receivables in any manner and through any medium that it reasonably considers advisable, and each
Grantor shall furnish all such assistance and information as the Administrative Agent may require in connection with such test verifications. At any time and from time to time, upon the Administrative Agent’s request and at the expense of the
relevant Grantor, such Grantor shall cause independent public accountants or others reasonably satisfactory to the Administrative Agent to furnish to the Administrative Agent reports showing reconciliations, aging and test verifications of, and
trial balances for, the Receivables. 
  
 (b) The Administrative
Agent hereby authorizes each Grantor to collect such Grantor’s Receivables and the Administrative Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by
the Administrative Agent at any time after the occurrence and during the continuance of an Event of Default, any payments of Receivables, when collected by any Grantor, (i) shall be forthwith (and, in any event, within two Business Days) deposited
by such Grantor in the exact form received, duly indorsed by such Grantor to the Administrative Agent if required, in a Collateral Account maintained under the sole dominion and control of the Administrative Agent, subject to withdrawal by the
Administrative Agent for the account of the Administrative Agent and the Secured Parties only as provided in Section 6.5, and (ii) until so turned over, shall be held by such Grantor in trust for the Administrative Agent and the Secured Parties,
segregated from other funds of such Grantor. Each such deposit of Proceeds of Receivables shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. 
  
 (c) At the Administrative Agent’s request after the occurrence and
during the continuance of an Event of Default, each Grantor shall deliver to the Administrative Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables, including,
without limitation, all original orders, invoices and shipping receipts. 
  
 6.2 Communications with Obligors; Grantors Remain Liable. (a) The Administrative Agent in its own name or in the name of others may at any time after the occurrence and during the continuance of an Event of
Default communicate with obligors under the Receivables to verify with them to the Administrative Agent’s satisfaction the existence, amount and terms of any Receivables. 
  
 (b) Upon the request of the Administrative Agent at any time after the occurrence and during the continuance of an Event of
Default, each Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of the Administrative Agent and the Secured Parties and that payments in respect thereof shall
be made directly to the Administrative Agent. 
  

 21 

 (c) Anything herein to the contrary notwithstanding, each Grantor shall remain liable under each of the
Receivables to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise thereto. Neither the Administrative Agent nor any Secured Party shall
have any obligation or liability under any Receivable (or any agreement giving rise thereto) by reason of or arising out of this Agreement or the receipt by any Administrative Agent or any Secured Party of any payment relating thereto, nor shall the
Administrative Agent or any Secured Party be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Receivable (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the
nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party thereunder, to present or file any claim, or to take any action to enforce any performance or to collect the payment of any amounts
which may have been assigned to it or to which it may be entitled at any time or times. 
  
 6.3 Pledged Stock. (a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given notice to the relevant Grantor of the Administrative Agent’s intent to
exercise its corresponding rights pursuant to Section 6.3(b), each Grantor shall be permitted to receive all cash dividends and distributions paid in respect of the Pledged Stock and other Investment Property and all payments made in respect of the
Pledged Notes, in each case paid in the normal course of business of the relevant Issuer and consistent with past practice, to the extent permitted in the Credit Agreement, and to exercise all voting and corporate rights with respect to the
Investment Property; provided, however, that no vote shall be cast or corporate right exercised or other action taken which, in the Administrative Agent’s reasonable judgment, would impair the Collateral or which would be
inconsistent with or result in any violation of any provision of the Credit Agreement, this Agreement or any other Loan Document. 
  
 (b) If an Event of Default shall occur and be continuing and the Administrative Agent shall give notice of its intent to exercise such rights to the
relevant Grantor or Grantors, (i) the Administrative Agent shall have the right to receive any and all cash dividends, payments or other Proceeds paid in respect of the Investment Property and make application thereof to the Obligations in the order
set forth in Section 6.5, and (ii) any or all of the Investment Property shall be registered in the name of the Administrative Agent or its nominee, and the Administrative Agent or its nominee may thereafter exercise (x) all voting, corporate and
other rights pertaining to such Investment Property at any meeting of shareholders, partners or members of the relevant Issuer or Issuers or otherwise and (y) any and all rights of conversion, exchange and subscription and any other rights,
privileges or options pertaining to such Investment Property as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Investment Property upon the merger, consolidation,
reorganization, recapitalization or other fundamental change in the organizational structure of any Issuer, or upon the exercise by any Grantor or the Administrative Agent of any right, privilege or option pertaining to such Investment Property, and
in connection therewith, the right to deposit and deliver any and all of the Investment Property with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as the Administrative Agent may
determine), all without liability except to account for property actually received by it, but the Administrative Agent shall have no duty to any Grantor to exercise any such right, privilege or option and shall not be responsible for any failure to
do so or delay in so doing. 
  

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 (c) Each Grantor hereby authorizes and instructs each Issuer of any Investment Property pledged by such
Grantor hereunder if an Event of Default has occurred and is continuing to (i) comply with any instruction received by it from the Administrative Agent in writing that (x) states that an Event of Default has occurred and is continuing and (y) is
otherwise in accordance with the terms of this Agreement, without any other or further instructions from such Grantor, and each Grantor agrees that each Issuer shall be fully protected in so complying, and (ii) unless otherwise expressly permitted
hereby, pay any dividends or other payments with respect to the Investment Property directly to the Administrative Agent. 
  
 6.4 Proceeds to be Turned Over To Administrative Agent. In addition to the rights of the Administrative Agent and the Secured Parties specified in
Section 6.1 with respect to payments of Receivables, if an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, checks and other near cash items shall be held by such Grantor in trust for the
Administrative Agent and the Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, be turned over to the Administrative Agent in the exact form received by such Grantor (duly indorsed by
such Grantor to the Administrative Agent, if required). All Proceeds received by the Administrative Agent hereunder shall be held by the Administrative Agent in a Collateral Account maintained under its sole dominion and control. All Proceeds while
held by the Administrative Agent in a Collateral Account (or by such Grantor in trust for the Administrative Agent and the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment
thereof until applied as provided in Section 6.5. 
  
 6.5
Application of Proceeds. At such intervals as may be agreed upon by the Borrower and the Administrative Agent or, if an Event of Default shall have occurred and be continuing, at any time at the Administrative Agent’s election, the
Administrative Agent shall apply all or any part of Proceeds constituting Collateral, whether or not held in any Collateral Account, and any proceeds of the guarantee set forth in Section 2, in payment of the Obligations in the following order:

  
 First, to pay incurred and unpaid fees
and expenses of the Administrative Agent in its capacity as such under the Loan Documents; 
  
 Second, to the Administrative Agent, for application by it towards payment of amounts then due and owing and remaining unpaid in
respect of the Obligations, pro rata among the Administrative Agent and the Secured Parties according to the amounts of the Obligations then due and owing and remaining unpaid to the Administrative Agent and the Secured Parties;

  
 Third, to the Administrative Agent,
for application by it towards prepayment of the Obligations, pro rata among the Administrative Agent and the Secured Parties according to the amounts of the Obligations then held by the Administrative Agent and the Secured Parties; and

  
 Fourth, any balance of such Proceeds
remaining after the then outstanding Obligations shall have been paid in full, no Letters of Credit shall be outstanding and the Commitments shall have terminated shall be paid over to the Borrower or to whomsoever may be lawfully entitled to
receive the same. 
  

 23 

 6.6 Code and Other Remedies. If an Event of Default shall occur and be continuing, the
Administrative Agent, on behalf of the Administrative Agent and the Secured Parties, may exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or
relating to the Obligations, all rights and remedies of a secured party under the New York UCC or any other applicable law. Without limiting the generality of the foregoing, the Administrative Agent, without demand of performance or other demand,
presentment, protest, advertisement or notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may
in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may, subject to preexisting rights and licenses, forthwith sell, lease, assign, give option or options to purchase, or
otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Administrative Agent or
any Secured Party or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Administrative Agent or any
Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption
in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the
Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. The Administrative Agent shall apply the net proceeds of any action taken by it pursuant to this Section 6.6 after deducting all reasonable costs and
expenses of every kind incurred in connection therewith or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Administrative Agent and the Secured Parties hereunder with
respect thereto, including, without limitation, reasonable attorneys’ fees and disbursements, to the payment in whole or in part of the Obligations, in such order as the Administrative Agent may elect, and only after such application and after
the payment by the Administrative Agent of any other amount required by any provision of law, including, without limitation, Section 9-615(a)(3) of the New York UCC, need the Administrative Agent account for the surplus, if any, to any Grantor. To
the extent permitted by applicable law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any Secured Party arising out of the exercise by it of any rights hereunder. If any notice of a proposed
sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition. 
  
 6.7 Registration Rights. (a) If the Administrative Agent shall determine to exercise its right to sell any or all of
the Pledged Stock pursuant to Section 6.6, and if in the opinion of the Administrative Agent it is necessary or advisable to have the Pledged Stock, or that portion thereof to be sold, registered under the provisions of the Securities Act, the
relevant Grantor will use its best efforts to cause the Issuer thereof to (i) execute and deliver, and use its best efforts to cause the directors and officers of such Issuer to execute and deliver, all such instruments and documents, and do or
cause to be done all such other acts as may be, in the opinion of the Administrative Agent, necessary or advisable to register the Pledged Stock, or that portion thereof to be sold, under the provisions of the Securities Act, (ii) use its best
efforts to cause the registration statement relating thereto to become effective and to remain effective for a 

  

 24 

 
period of one year from the date of the first public offering of the Pledged Stock, or that portion thereof to be sold, and (iii) make all amendments thereto
and/or to the related prospectus which, in the opinion of the Administrative Agent, are necessary or advisable, all in conformity with the requirements of the Securities Act and the rules and regulations of the Securities and Exchange Commission
applicable thereto. Each Grantor agrees to use its best efforts to cause such Issuer to comply with the provisions of the securities or “Blue Sky” laws of any and all jurisdictions which the Administrative Agent shall reasonably designate
and to make available to its security holders, as soon as practicable, an earnings statement (which need not be audited) which will satisfy the provisions of Section 11(a) of the Securities Act. 
  
 (b) Each Grantor recognizes that the Administrative Agent may be unable to
effect a public sale of any or all the Pledged Stock, by reason of certain prohibitions contained in the Securities Act and applicable state securities laws or otherwise, and may be compelled to resort to one or more private sales thereof to a
restricted group of purchasers which will be obliged to agree, among other things, to acquire such securities for their own account for investment and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that
any such private sale may result in prices and other terms less favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable
manner. The Administrative Agent shall be under no obligation to delay a sale of any of the Pledged Stock for the period of time necessary to permit the Issuer thereof to register such securities for public sale under the Securities Act, or under
applicable state securities laws, even if such Issuer would agree to do so. 
  
 (c) Each Grantor agrees to use its best efforts to do or cause to be done all such other acts as may be necessary to make such sale or sales of all or any portion of the Pledged Stock pursuant to this Section 6.7
valid and binding and in compliance with any and all other applicable Requirements of Law. Each Grantor further agrees that a breach of any of the covenants contained in this Section 6.7 will cause irreparable injury to the Administrative Agent and
the Secured Parties, that the Administrative Agent and the Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in this Section 6.7 shall be specifically enforceable
against such Grantor, and such Grantor hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants except for a defense that no Event of Default has occurred under the Credit Agreement.

  
 6.8 Deficiency. Each Grantor shall remain liable for
any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or any Secured Party to collect such
deficiency. 
  
 SECTION 7. THE ADMINISTRATIVE AGENT 
  
 7.1 Administrative Agent’s Appointment as Attorney-in-Fact, etc.
(a) Each Grantor hereby irrevocably constitutes and appoints the Administrative Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place
and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out the terms of this Agreement, to take 

  

 25 

 
any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this
Agreement in each case after the occurrence and during the continuation of an Event of Default, and, without limiting the generality of the foregoing, each Grantor hereby gives the Administrative Agent the power and right, on behalf of such Grantor,
without notice to or assent by such Grantor, to do any or all of the following: 
  
 (i) in the name of such Grantor or its own name, or otherwise, take possession of and indorse and collect any checks, drafts, notes,
acceptances or other instruments for the payment of moneys due under any Receivable or with respect to any other Collateral and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by
the Administrative Agent for the purpose of collecting any and all such moneys due under any Receivable or Contract or with respect to any other Collateral whenever payable; 
  
 (ii) in the case of any Intellectual Property, execute and deliver, and have recorded, any and all
agreements, instruments, documents and papers as the Administrative Agent may request to evidence the Administrative Agent’s and the Secured Parties’ security interest in such Intellectual Property and the goodwill and general intangibles
of such Grantor relating thereto or represented thereby; 
  
 (iii) pay or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or any insurance called for by the terms of this Agreement and pay all or any part of the premiums
therefor and the costs thereof; 
  
 (iv) execute,
in connection with any sale provided for in Section 6.6 or 6.7, any indorsements, assignments or other instruments of conveyance or transfer with respect to the Collateral; 
  
 (v) (1) direct any party liable for any payment under any of the Collateral to make payment of any and all
moneys due or to become due thereunder directly to the Administrative Agent or as the Administrative Agent shall direct; (2) ask or demand for, collect, and receive payment of and receipt for, any and all moneys, claims and other amounts due or to
become due at any time in respect of or arising out of any Collateral; (3) sign and indorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, notices and other
documents in connection with any of the Collateral; (4) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other
right in respect of any Collateral; (5) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral; (6) settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give such
discharges or releases as the Administrative Agent may deem appropriate; (7) subject to preexisting rights and licenses, assign any Copyright, Patent or Trademark (along with the goodwill of the business to which any such Copyright, Patent or
Trademark pertains), throughout the world for such term or terms, on such conditions, and in such manner, as the Administrative Agent shall in its sole discretion determine; and (8) generally, subject to preexisting rights and licenses, sell,
transfer, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though 

  

 26 

 
the Administrative Agent were the absolute owner thereof for all purposes, and do, at the Administrative Agent’s option and such Grantor’s expense,
at any time, or from time to time, all acts and things which the Administrative Agent deems necessary to protect, preserve or realize upon the Collateral and the Administrative Agent’s and the Secured Parties’ security interests therein
and to effect the intent of this Agreement, all as fully and effectively as such Grantor might do; and 
  
 (vi) subject to preexisting rights and licenses and applicable law, license or sublicense whether on an exclusive or non-exclusive basis,
any Intellectual Property owned by such Grantors for such term and on such conditions and in such manner as the Administrative Agent shall in its sole judgment determine and, in connection therewith, such Grantor hereby grants to the Administrative
Agent for the benefit of the Secured Parties a royalty-free, world-wide license of such Intellectual Property. 
  
 Anything in this Section 7.1 (a) to the contrary notwithstanding, the Administrative Agent agrees that it will not exercise any rights under the power of
attorney provided for in this Section 7.1(a) unless an Event of Default shall have occurred and be continuing. 
  
 (b) If any Grantor fails to perform or comply with any of its agreements contained herein, after the occurrence and during the continuance of an Event of
Default, the Administrative Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement. 
  
 (c) The reasonable expenses of the Administrative Agent incurred in connection with actions undertaken as provided in this
Section 7.1, together with interest thereon at a rate per annum equal to the rate per annum at which interest would then be payable on past due Revolving Credit Loans that are Base Rate Loans under the Credit Agreement, from the date of payment by
the Administrative Agent to the date reimbursed by the relevant Grantor, shall be payable by such Grantor to the Administrative Agent on demand. 
  
 (d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. All powers, authorizations and agencies
contained in this Agreement are coupled with an interest and are irrevocable until this Agreement is terminated and the security interests created hereby are released. 
  
 7.2 Duty of Administrative Agent. The Administrative Agent’s sole duty with respect to the custody, safekeeping
and physical preservation of the Collateral in its possession, under Section 9-207 of the New York UCC or otherwise, shall be to deal with it in the same manner as the Administrative Agent deals with similar property for its own account. Neither the
Administrative Agent or Secured Party nor any of their respective officers, directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any
obligation to sell or otherwise dispose of any Collateral upon the request of any Grantor or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The powers conferred on the Administrative Agent
and the Secured Parties hereunder are solely to protect the Administrative Agent’s and the Secured Parties’ interests in the Collateral and shall not impose any duty upon the Administrative Agent or any Secured Party to exercise any such
powers. The Administrative 

  

 27 

 
Agent and the Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they
nor any of their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 
  
 7.3 Execution of Financing Statements. Pursuant to any applicable law,
each Grantor authorizes the Administrative Agent to file or record financing statements and other filing or recording documents or instruments with respect to the Collateral without the signature of such Grantor in such form and in such offices as
the Administrative Agent determines appropriate to perfect the security interests of the Administrative Agent under this Agreement. Each Grantor authorizes the Administrative Agent to use the collateral description “all personal property”
or “all assets” in any such financing statements. 
  
 7.4 Authority of Administrative Agent. Each Grantor acknowledges that the rights and responsibilities of the Administrative Agent under this Agreement with respect to any action taken by the Administrative Agent or the exercise or
non-exercise by the Administrative Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement shall, as between the Administrative Agent and the Secured Parties, be
governed by the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Administrative Agent and the Grantors, the Administrative Agent shall be conclusively presumed to be
acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation, or entitlement, to make any inquiry respecting such authority. Notwithstanding any other provision
herein or in any Loan Document, the only duty or responsibility of the Administrative Agent to any Qualified Counterparty under this Agreement is the duty to remit to such Qualified Counterparty any amounts to which it is entitled pursuant to
Section 6.5. 
  
 SECTION 8. MISCELLANEOUS 
  
 8.1 Amendments in Writing. None of the terms or provisions of this
Agreement may be waived, amended, supplemented or otherwise modified except in accordance with Section 10.1 of the Credit Agreement. No consent of any Qualified Counterparty shall be required for any waiver, amendment, supplement or other
modification to this Agreement. 
  
 8.2 Notices. All
notices, requests and demands to or upon the Administrative Agent or any Grantor hereunder shall be effected in the manner provided for in Section 10.2 of the Credit Agreement; provided that any such notice, request or demand to or upon any
Guarantor (other than Holdings) shall be addressed to such Guarantor at its notice address set forth on Schedule 1. 
  
 8.3 No Waiver by Course of Conduct; Cumulative Remedies. The Administrative Agent or Secured Party shall not by any act (except by a written
instrument pursuant to Section 8.1), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any Default or Event of Default. No failure to exercise, nor any delay in exercising, on
the part of the Administrative Agent or any Secured Party, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further

  

 28 

 
exercise thereof or the exercise of any other right, power or privilege. A waiver by the Administrative Agent or any Secured Party of any right or remedy
hereunder on any one occasion shall not be construed as a bar to any right or remedy which the Administrative Agent or such Secured Party would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be
exercised singly or concurrently and are not exclusive of any other rights or remedies provided by law. 
  
 8.4 Enforcement Expenses; Indemnification. (a) Each Guarantor agrees to pay or reimburse each Secured Party and the Administrative Agent for all
its reasonable costs and expenses incurred in collecting against such Guarantor under the guarantee contained in Section 2 or otherwise enforcing or preserving any rights under this Agreement and the other Loan Documents to which such Guarantor is a
party, including, without limitation, the reasonable fees and disbursements of counsel (including the allocated fees and expenses of in-house counsel) to each Secured Party and of counsel to the Administrative Agent. 
  
 (b) Each Guarantor agrees to pay, and to save the Administrative Agent and
the Secured Parties harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other similar taxes which may be payable or determined to be payable with respect to any of the
Collateral or in connection with any of the transactions contemplated by this Agreement. 
  
 (c) Each Guarantor agrees to pay, and to save the Administrative Agent and the Secured Parties harmless from, any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this Agreement to the extent the Borrower would be required to do so pursuant to Section 10.5 of the
Credit Agreement. 
  
 (d) The agreements in this Section shall
survive repayment of the Obligations and all other amounts payable under the Credit Agreement and the other Loan Documents. 
  
 8.5 Successors and Assigns. This Agreement shall be binding upon the successors and assigns of each Grantor and shall inure to the benefit of the
Administrative Agent and the Secured Parties and their successors and assigns; provided that no Grantor may assign, transfer or delegate any of its rights or obligations under this Agreement without the prior written consent of the
Administrative Agent. 
  
 8.6 Set-Off. In addition to any
rights and remedies of the Administrative Agent and the Secured Parties provided by law, the Administrative Agent and each of the Secured Parties shall have the right, without prior notice to such Grantor or any other Grantor, any such notice being
expressly waived by each Grantor to the extent permitted by applicable law, upon any amount becoming due and payable by a Grantor under the Credit Agreement or any other Loan Document (whether at the stated maturity, by acceleration or otherwise)
after any applicable grace period, to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any
currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by the Administrative Agent or such Secured Party or any branch or agency thereof to or for the credit or the account of such
Grantor. The 

  

 29 

 
Administrative Agent and each Secured Party agree promptly to notify such Grantor and the Administrative Agent after any such setoff and application made by
such person, provided that the failure to give such notice shall not affect the validity of such setoff and application. 
  
 The rights of the Administrative Agent and each Secured Party under this Section are in addition to other rights and remedies (including, without
limitation, other rights of set-off) which the Administrative Agent or such Secured Party may have. 
  
 8.7 Counterparts. This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including
by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
  
 8.8 Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction. 
  
 8.9 Section Headings. The
Section headings used in this Agreement are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 
  
 8.10 Integration. This Agreement and the other Loan Documents represent the agreement of the Grantors, the
Administrative Agent and the Secured Parties with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent or any Secured Party relative to subject matter
hereof and thereof not expressly set forth or referred to herein or in the other Loan Documents. 
  
 8.11 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
NEW YORK. 
  
 8.12 Submission To Jurisdiction; Waivers.
Each Grantor hereby irrevocably and unconditionally: 
  
 (a)
submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the non-exclusive general
jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of New York, and appellate courts from any thereof; 
  
 (b) consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or
hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 
  
 (c) agrees that service of process in any such action or proceeding may be
effected by mailing a copy thereof by registered or certified mail (or any substantially similar 

  

 30 

 
form of mail), postage prepaid, to such Grantor at its address referred to in Section 8.2 or at such other address of which the Administrative Agent shall
have been notified pursuant thereto; 
  
 (d) agrees that nothing
herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and 
  

(e) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in
this Section any special, exemplary, punitive or consequential damages. 
  
 8.13 Acknowledgements. Each Grantor hereby acknowledges that: 
  
 (a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents to which it is a party; 
  
 (b) neither the Administrative Agent nor any Secured Party has any fiduciary relationship with or duty to any Grantor
arising out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Grantors, on the one hand, and the Administrative Agent and Secured Parties, on the other hand, in connection herewith or
therewith is solely that of debtor and creditor; and 
  
 (c) no
joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby among the Secured Parties or among the Grantors and the Secured Parties. 
  
 8.14 Additional Grantors. Each Subsidiary of the Borrower that is
required to become a party to this Agreement pursuant to Section 6.10 of the Credit Agreement shall become a Grantor for all purposes of this Agreement upon execution and delivery by such Subsidiary of an Assumption Agreement in the form of Annex 1
hereto. 
  
 8.15 Releases. (a) At such time as the Loans,
the Reimbursement Obligations and the other Obligations (other than (i) Borrower Hedge Agreement Obligations and Guarantor Hedge Agreement Obligations and (ii) unasserted contingent indemnity and other obligations which expressly survive the
termination of the Credit Agreement and are not then due and payable) shall have been paid in full, the Commitments have been terminated and no Letters of Credit shall be outstanding which have not been fully cash collateralized in accordance with
the Credit Agreement or otherwise collateralized in a manner satisfactory to the Issuing Lender in its sole discretion, the Collateral shall be released from the Liens created hereby, and this Agreement and all obligations (other than those
expressly stated to survive such termination) of the Administrative Agent and each Grantor hereunder shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the
Grantors. At the request and sole expense of any Grantor following any such termination, the Administrative Agent shall deliver to such Grantor any Collateral held by the Administrative Agent hereunder, and execute and deliver to such Grantor such
documents as such Grantor shall reasonably request to evidence such termination. 
  
 (b) If any of the Collateral (including transfers of Receivables and related assets in a Permitted Receivables Financing) shall be sold, transferred or otherwise disposed of by any Grantor in a transaction permitted
by the Credit Agreement, such Collateral shall be 

  

 31 

 
automatically released from the Lien of this Agreement and the other Loan Documents without further action on the part of any Grantor, the Administrative
Agent or the Lenders, and shall cease to constitute Collateral hereunder, and then the Administrative Agent, at the request and sole expense of such Grantor, shall execute and deliver to such Grantor all releases or other documents reasonably
necessary or desirable for the release of the Liens created hereby on such Collateral. At the sole expense of the Borrower, a Subsidiary Guarantor shall be automatically released from its obligations (including its guarantee) hereunder in the event
that all the Capital Stock of such Subsidiary Guarantor shall be sold, transferred or otherwise disposed of in a transaction permitted by the Credit Agreement and then the Administrative Agent, at the request and sole expense of the Borrower shall
execute and deliver to the relevant Subsidiary Guarantor all releases or other documents reasonably necessary or desirable for the release of such obligations. 
  

(c) No consent of any Qualified Counterparty shall be required for any release of Collateral or Guarantors pursuant to this Section. 
  
 8.16 WAIVER OF JURY TRIAL. EACH GRANTOR HEREBY
IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 
  

 32 

 IN WITNESS WHEREOF, each of the undersigned has caused this Guarantee and Collateral Agreement to be duly
executed and delivered as of the date first above written. 
  

			
	 ALLIANCE LAUNDRY HOLDINGS LLC

		
	By:	 	/s/    THOMAS F. L’ESPERANCE
	Name:	 	 Thomas F. L’Esperance

	 Title:
	 	 President and Chief Executive Officer

	
	 ALLIANCE LAUNDRY SYSTEMS LLC

		
	By:	 	/s/    THOMAS F. L’ESPERANCE
	 Name:
	 	 Thomas F. L’Esperance

	 Title:
	 	 President and Chief Executive Officer

	
	 ALLIANCE LAUNDRY CORPORATION

		
	By:	 	/s/    LEE L. SIENNA
	 Name:
	 	 Lee L. Sienna

	 Title:
	 	 President

  

 33 

 SCHEDULES TO GUARANTEE AND COLLATERAL AGREEMENT: 
  

			
	 Schedule 1
	  	Notice Addresses
	 Schedule 2
	  	Investment Property
	 Schedule 3
	  	Perfection Matters
	 Schedule 4
	  	Jurisdictions of Organization and Chief Executive Offices
	 Schedule 5
	  	Inventory and Equipment Locations
	 Schedule 6
	  	Intellectual Property
	 Schedule 7
	  	Contracts
	 Schedule 8
	  	Government Contracts
	 Schedule 9
	  	Commercial Tort Claims

  

  
 Schedule 1 to Guarantee

 and Collateral Agreement 
  
 Notice Addresses 
  
 Alliance Laundry Holdings LLC 
 PO Box 990 
 Shepard Street 
 Ripon, WI 54971-0990 
 Attn: Chief Financial Officer 
  
 Alliance Laundry Systems LLC 
 PO Box 990 
 Shepard Street 
 Ripon, WI 54971-0990 
 Attn: Chief Financial Officer 
  
 Alliance Laundry Corporation

 PO Box 990 
 Shepard Street 
 Ripon, WI 54971-0990 
 Attn: Chief Financial Officer 
  

  
 Schedule 2 to Guarantee

 and Collateral Agreement 
  
 Investment Property 
  
 Pledged Stock: 
  

							
	 Issuer

	  	Class of Stock

	  	Stock Certificate No.

	  	No. of Shares

	 Alliance Laundry Corporation
	  	common	  	C-2	  	1,000
				
	 Alliance Laundry Systems LLC 100% membership interest
	  	N/A	  	N/A	  	N/A
				
	 Alliance Laundry Equipment Receivables LLC 100% membership interest
	  	N/A	  	N/A	  	N/A
				
	 Alliance Laundry Equipment Receivables 2002 LLC 100% membership interest
	  	N/A	  	N/A	  	N/A

  
 Pledged Notes

  
 None 
  

  
 Schedule 3 to Guarantee

 and Collateral Agreement 
  
 Perfection Matters 
  
 Uniform Commercial Code Filings 
  
 State of Delaware, Secretary of State 
  
 Patent and Trademark Filings 
  

	1.	Notice and Confirmation of Grant of Security Interest in U.S. Patents, dated as of [January, 27, 2005], made by Alliance Laundry Systems LLC in favor of Lehman Commercial Paper,
Inc., as administrative agent, to be filed with the Patent Division of the U.S. Patent and Trademark Office. 

  

	2.	Notice and Confirmation of Grant of Security Interest in U.S. Trademarks, dated as of [January 27, 2005], made by Alliance Laundry Systems LLC in favor of Lehman Commercial Paper,
Inc., as administrative agent, to be filed with the Trademark Division of the U.S. Patent and Trademark Office. 

  
 Actions with respect to Pledged Stock 
  
 Certificate representing Capital Stock of Alliance Laundry Corporation will be delivered, together with endorsements executed in blank. UCC filings will be done with
regard to the membership interests of Alliance Laundry Systems LLC, Alliance Laundry Equipment Receivables LLC and Alliance Laundry Equipment Receivables 2002 LLC. 
  
 Other Actions 
  
 UCC filings will be done with regard to all remaining collateral. 
  

  
 Schedule 4 to Guarantee

 and Collateral Agreement 
  
 Jurisdictions of Organization and Chief Executive Offices 
  

							
	 Grantor

	  	Jurisdiction of
Organization

	  	Location of Chief
Executive Office

	  	Identification
Number

				
	 Alliance Laundry Holdings LLC
	  	Delaware	  	Shepard Street
Ripon, WI 54971	  	52-2055893
				
	 Alliance Laundry Systems LLC
	  	Delaware	  	Shepard Street
Ripon, WI 54971	  	39-1927923
				
	 Alliance Laundry Corporation
	  	Delaware	  	Shepard Street
Ripon, WI 54971	  	39-1928505

  

  
 Schedule 5 to Guarantee

 and Collateral Agreement 
  
 Inventory and Equipment Locations 
  

			
	 Grantor

	 	 Locations

	 Alliance Laundry Holdings LLC
	 	None
		
	 Alliance Laundry Systems LLC
	 	Shepard Street
Ripon, WI 54971
		
	 	 	3595 Industrial Park Drive
Marianna, Florida 32446
		
	 Alliance Laundry Corporation
	 	None

  
 Various customer, supplier locations
and space leased in various warehouses are used for inventory storage by Alliance Laundry Systems LLC. These facilities are in the following locations: 
  
 Arab, Alabama (Hunt Manufacturing) 
 Dothan, Alabama 
 Gardena, California 
  
 Adelaide, Australia 
 Brisbane, Australia 
 Melbourne, Australia 
 Perth, Australia 
 Sydney, Australia 
 Antwerp, Belgium 
 Vancouver,
British Columbia 
  

  
 Schedule 6 to Guarantee

 and Collateral Agreement 
  
 Intellectual Property 
  
 COPYRIGHTS AND COPYRIGHT LICENSES 
  
 None 
  
 PATENTS AND PATENT LICENSES 
  
 Patents 
  

									
	 Country

	  	 Inventor(s)

	  	Patent No.

	  	 Issue Date

	  	 Title

	 U.S.
	  	Oberley	  	4,843,745	  	07/04/89	  	Press & Method of Making Same
					
	 U.S.
	  	Putnam	  	4,860,791	  	08/29/89	  	Strain Relief Clamp for Drain Hose – Washers
					
	 U.S.
	  	Putnam	  	4,934,559	  	06/19/90	  	Door Bar Handle for Glass Door of Clothes Dryer
					
	 U.S.
	  	Altnau	  	4,936,421	  	06/26/90	  	Conical Spring Braking Mechanism ( 8-Pc. Brake)
					
	 U.S.
	  	Clawson et al.	  	5,005,383	  	04/09/91	  	Washing Machine Motor with High Rotor Resistance
					
	 U.S.
	  	Wolfe et al.	  	5,007,254	  	04/16/91	  	Additive Fluid Viewing (indicator of liquid detergent)
					
	 U.S.
	  	Altnau, Sr.	  	5,044,178	  	09/03/91	  	Rinse Aid Dispenser (3 pc. compact – snaps together)
					
	 U.S.
	  	Wild	  	5,050,407	  	09/24/91	  	Combination Unbalanced Load & Lid Switch Ass’y
					
	 U.S
	  	Gill et al.	  	5,065,535	  	11/19/91	  	Indexing System for a Rotary Garment Press
					
	 U.S.
	  	Malchow	  	5,101,645	  	04/07/92	  	Suspension System (Pivot & Translation Springs)
					
	 U.S.
	  	Malchow	  	5,361,439	  	11/08/94	  	Method & Apparatus For Spinning & Draining
					
	 U.S.
	  	Ferguson et al.	  	5,392,891	  	02/28/95	  	Discrimination of Coins Based on Metal Content

  

  
 Schedule 6 to Guarantee

 and Collateral Agreement 
  

									
	 Country

	  	 Inventor(s)

	  	Patent No.

	  	 Issue Date

	  	 Title

					
	 U.S.
	  	Hossfield et al.	  	5,404,986	  	04/11/95	  	Method & Apparatus for Discriminating Coins
					
	 U.S.
	  	Quandt et al.	  	5,524,362	  	06/11/96	  	Method of Wire Harness to Select Controller Mode
					
	 U.S.
	  	Hossfield et al.	  	5,684,597	  	11/04/97	  	Method & Device for Coin Diameter Discrimination
					
	 U.S
	  	Mohan et al.	  	5,692,326	  	12/02/97	  	Shirt Pressing Apparatus w/ Moveable Cuff
					
	 U.S.
	  	White et al.	  	5,782,112	  	07/21/98	  	Auto Injection Siphon Break for Washers
					
	 U.S.
	  	Ferragut	  	5,822,819	  	10/20/98	  	Ultrasonic Water Level Detection System
					
	 U.S.
	  	Roberts et al.	  	5,850,747	  	12/22/98	  	Pressure Vessel Temperat Compensating Compressor
					
	 U.S.
	  	Moline et al.	  	5,879,036	  	03/09/99	  	Door Interlock for an Appliance
					
	 U.S.
	  	Harris	  	5,883,802	  	03/16/99	  	Energy Usage Controller for an Appliance
					
	 U.S.
	  	Kegler et al.	  	5,946,945	  	09/07/99	  	Frame for High Pressure Liquid Gas Storage
					
	 U.S.
	  	Mohan et al.	  	5,970,637	  	10/26/99	  	Automatic Shirt Pressing Systems w/ Vacuum Syst
					
	 U.S.
	  	Malchow	  	6,012,307	  	01/11/00	  	Controlled Agitation System for Drycleaner
					
	 U.S.
	  	Walker	  	6,021,652	  	02/08/00	  	Control Valve w/ Valve Member Position Sensor
					
	 U.S.
	  	Walker	  	6,050,112	  	04/18/00	  	Detection of Liquid Level in Sealed Storage Vessel
					
	 U.S.
	  	Harris	  	6,053,541	  	04/25/00	  	Auto Safety Lock
					
	 U.S.
	  	Malchow et al.	  	6,070,440	  	06/06/00	  	Space-Saving Door Opening / Closing Apparatus
					
	 U.S.
	  	Malchow et al.	  	6,085,935	  	07/11/00	  	Quick-Opening Door Apparatus for Filter

  

 8 

  
 Schedule 6 to Guarantee

 and Collateral Agreement 
  

									
	 Country

	  	 Inventor(s)

	  	Patent No.

	  	 Issue Date

	  	 Title

	 U.S.
	  	Roberts et al.	  	6,182,318	  	02/06/01	  	Temperature Compensating Compressor
					
	 U.S.
	  	Kegler et al.	  	6,233,980	  	05/22/01	  	Door w/ Self-Aligning, Stress Reduced Locking Lugs
					
	 U.S.
	  	Harris et al.	  	6,237,373	  	05/29/01	  	Self-Contained Front Access Lint Panel for Vessel
					
	 U.S.
	  	Malchow et al.	  	6,237,374	  	05/29/01	  	Space-Saving Door Opening Apparatus for Vessel
					
	 U.S.
	  	McAllister et al.	  	6,324,771	  	12/04/01	  	Perforated Baffle Ribs for Temp. Limiting Air Flow
					
	 U.S.
	  	Kegler et al.	  	6,334,340	  	01/01/02	  	Convertible Installation Configuration for CO2
Dry
					
	 U.S.
	  	Malchow	  	6,360,392	  	03/26/02	  	Improved Agitation System for CO2 Drycleaner
					
	 Taiwan
	  	 	  	57509	  	01/12/91	  	 
					
	 EP
	  	Hossfield	  	0573166	  	08/13/97	  	Washing Machine (same as US # 5,257,516)
					
	 AU
	  	Hossfield	  	660082	  	09/26/95	  	Washing Machine (same as US # 5,257,516)
					
	 AU
	  	Hossfield et al.	  	660084	  	09/26/95	  	Washing Machine (same as US # 5,249,440 which we abandoned.)

  
 Patent Licenses 
  

	 	•	 	Cross License Agreement dated September 10, 1997 between Raytheon Commercial Laundry LLC and Amana Company L.P. 

  

 46 

  
 Schedule 6 to Guarantee

 and Collateral Agreement 
  
 TRADEMARKS AND TRADEMARK LICENSES 
  
 Registered Trademarks 
  

							
	 Country

	  	 Trademark Description

	  	Reg. No.

	  	Reg. Date

	U.S.	  	AJAX	  	1500201	  	8/16/88
	U.S.	  	CARDMATE	  	2370970	  	7/25/00
	U.S.	  	ECON-O-WASH	  	1201795	  	7/20/82
	U.S.	  	FAST BACK	  	863105	  	1/7/69
	U.S.	  	HORIZON	  	2439774	  	4/3/01
	U.S.	  	HUEBSCH	  	937549	  	7/11/72
	U.S.	  	LOADSTAR	  	845408	  	3/5/68
	U.S.	  	NETMASTER	  	78/424713	  	5/25/04
	U.S.	  	ROUTEMASTER	  	847837	  	4/23/68
	U.S.	  	RSPC	  	1268908	  	3/6/84
	U.S.	  	SEARCHIT	  	2515079	  	12/4/01
	U.S.	  	SPEED QUEEN	  	353190	  	12/28/37
	U.S.	  	SPEED QUEEN IN STYLIZED FORM & UPPE	  	765440	  	2/25/64
	U.S.	  	ULTRA DRY	  	2334735	  	3/28/00
	U.S.	  	UNI WASH	  	1473932	  	1/26/88
	U.S.	  	UNIMAC	  	1479347	  	3/8/88
	U.S.	  	UNIMAT	  	1479346	  	3/8/88
	U.S.	  	VENT-PAK	  	861021	  	11/26/68
	Argentina	  	SPEED QUEEN	  	1421851	  	2/26/93
	Australia	  	HUEBSCH	  	324984	  	12/12/85
	Australia	  	SPEED QUEEN	  	A124753	  	9/12/83
	Australia	  	UNIMAC	  	626329	  	3/29/94
	Austria	  	AJAX	  	61629	  	5/31/98
	Austria	  	SPEED QUEEN	  	58023	  	9/30/96
	Bahrain	  	SPEED QUEEN	  	TM3733	  	11/25/96
	Benelux	  	AJAX	  	436924	  	10/9/87

  

 47 

 Schedule 6 to Guarantee 
 and Collateral Agreement 
  

							
	 Country

	  	 Trademark Description

	  	Reg. No.

	  	Reg. Date

	Benelux	  	HUEBSCH	  	357323	  	12/12/88
	Benelux	  	SPEED QUEEN	  	44314	  	6/24/89
	Benelux	  	UNIMAC	  	456960	  	3/6/89
	Brazil	  	SPEED QUEEN	  	0003320952	  	10/21/86
	Brazil	  	UNIMAC	  	826477143	  	5/7/04
	Brazil	  	LAVE RAP	  	819624446	  	1/27/97
	Canada	  	AJAX	  	293609	  	7/8/83
	Canada	  	CARDMATE	  	568534	  	12/13/99
	Canada	  	HUEBSCH	  	280137	  	3/31/83
	Canada	  	RSPC	  	278487	  	3/23/90
	Canada	  	UNIMAC	  	367233	  	2/27/89
	Chile	  	SPEED QUEEN	  	389438	  	10/23/02
	Chile	  	SPEED QUEEN	  	546666	  	8/24/99
	Chile	  	LAVE RAP	  	504638	  	2/27/98
	Taiwan (R.O.C.)	  	SPEED QUEEN	  	479488	  	3/16/00
	China	  	AJAX	  	856311	  	9/9/94
	China	  	SPEED QUEEN	  	206439	  	3/30/94
	China	  	SPEED QUEEN	  	381326	  	3/30/94
	China	  	SPEED QUEEN IN CHINESE CHARACTERS	  	930161	  	1/14/97
	China	  	UNIMAC	  	860359	  	8/7/96
	Colombia	  	SPEED QUEEN	  	70027	  	11/5/89
	Colombia	  	LAVERAP	  	197525	  	12/18/97
	Costa Rica	  	SPEED QUEEN	  	34366/33009	  	11/2/91
	Denmark	  	HUEBSCH	  	3122/1980	  	8/22/80
	Egypt	  	SPEED QUEEN	  	52262	  	10/5/86
	Finland	  	UNIMAC	  	142830	  	3/5/96
	France	  	AJAX	  	94549085	  	12/14/94
	France	  	AJAX AND DESIGN	  	94549086	  	12/14/94
	France	  	HUEBSCH	  	1498023	  	11/10/88

  

 48 

 Schedule 6 to Guarantee 
 and Collateral Agreement 
  

							
	 Country

	  	 Trademark Description

	  	Reg. No.

	  	Reg. Date

	France	  	SPEED QUEEN	  	1494832	  	10/2/88
	France	  	UNIMAC	  	1524684	  	8/24/89
	Germany	  	AJAX	  	1129715	  	10/2/87
	Germany	  	HUEBSCH	  	DO653588	  	10/27/93
	Germany	  	SPEED QUEEN	  	772352	  	4/8/63
	Germany	  	UNIMAC STYLIZED	  	1145143	  	8/24/89
	West Germany	  	SPEED QUEEN	  	653886	  	9/28/90
	Greece	  	AJAX	  	32296	  	9/30/94
	Greece	  	SPEED QUEEN	  	59642	  	9/8/87
	Guatemala	  	SPEED QUEEN IN STYLIZED FORM & UPPE	  	17951	  	2/28/97
	Honduras	  	SPEED QUEEN	  	15680	  	12/14/98
	Hong Kong	  	AJAX	  	305/1965	  	9/30/99
	Hong Kong	  	SPEED QUEEN	  	435/1967	  	7/9/87
	India	  	SPEED QUEEN	  	405479	  	5/12/90
	Indonesia	  	SPEED QUEEN	  	361875	  	11/3/86
	Ireland	  	SPEED QUEEN	  	70745	  	6/27/87
	Israel	  	SPEED QUEEN	  	34862	  	1/12/93
	Italy	  	SPEED QUEEN	  	439969	  	8/5/86
	Italy	  	UNIMAC	  	601400	  	7/13/93
	Jamaica	  	SPEED QUEEN	  	B15813	  	6/18/92
	Japan	  	AJAX	  	607471	  	3/25/93
	Japan	  	HUEBSCH & KATAKANA	  	700440	  	3/3/96
	Japan	  	SPEED QUEEN	  	718776	  	9/5/96
	Japan	  	SPEED QUEEN	  	1351949	  	10/31/98
	Jordan	  	SPEED QUEEN	  	14457	  	3/9/84
	Korea (South)	  	HUEBSCH	  	76759	  	6/20/91
	Korea (South)	  	SPEED QUEEN	  	42330/2002	  	9/12/02
	Korea (South)	  	UNIMAC	  	248774	  	9/4/92
	Kuwait	  	SPEED QUEEN	  	5435	  	1/8/93

  

 49 

 Schedule 6 to Guarantee 
 and Collateral Agreement 
  

							
	 Country

	  	 Trademark Description

	  	Reg. No.

	  	Reg. Date

	Malaya	  	HUEBSCH	  	M/89205	  	1/8/88
	Malaya	  	SPEED QUEEN	  	M/88687	  	11/19/87
	Mexico	  	AJAX	  	505411	  	9/8/95
	Mexico	  	AJAX	  	289109	  	5/17/02
	Mexico	  	HUEBSCH	  	289105	  	12/8/91
	Mexico	  	LAVE RAP	  	540644	  	12/10/96
	Mexico	  	SPEED QUEEN	  	240836	  	4/30/94
	New Zealand	  	SPEED QUEEN	  	37503	  	4/5/95
	New Zealand	  	UNIMAC	  	235530	  	3/28/94
	Nigeria	  	SPEED QUEEN	  	31429	  	9/1/77
	N. Province/Rsa	  	SPEED QUEEN	  	461/39/2	  	4/15/87
	N. Province/Rsa	  	SPEED QUEEN	  	461/39/3	  	4/15/87
	N. Province/Rsa	  	SPEED QUEEN	  	461/39/1	  	4/15/87
	Nw Province/Rsa	  	SPEED QUEEN	  	461/39/1	  	4/15/87
	Nw Province/Rsa	  	SPEED QUEEN	  	461/39/2	  	4/15/87
	Nw Province/Rsa	  	SPEED QUEEN	  	461/39/3	  	4/15/87
	O.A.P.I.	  	SPEED QUEEN	  	18899	  	11/5/87
	Pakistan	  	SPEED QUEEN	  	109730	  	2/20/87
	Pakistan	  	SPEED QUEEN	  	110098	  	3/19/91
	Panama	  	SPEED QUEEN IN STYLIZED FORM & UPPE	  	27361	  	10/20/91
	Paraguay	  	LAVE RAP	  	199510	  	1/6/98
	Paraguay	  	SPEED QUEEN	  	237854	  	12/31/01
	Peru	  	LAVE-RAP	  	10416	  	4/29/92
	Peru	  	SPEED QUEEN	  	10927	  	11/7/92
	Philippines	  	SPEED QUEEN	  	13931	  	6/6/88
	Sabah	  	HUEBSCH	  	S/027305	  	1/8/88
	Sabah	  	SPEED QUEEN	  	S/027077	  	11/19/88
	Sarawak	  	HUEBSCH	  	SAR/22596	  	1/17/88
	Sarawak	  	SPEED QUEEN	  	SAR/22350	  	11/21/87

  

 50 

 Schedule 6 to Guarantee 
 and Collateral Agreement 
  

							
	 Country

	  	 Trademark Description

	  	Reg. No.

	  	Reg. Date

	Saudi Arabia	  	SPEED QUEEN	  	47/56	  	10/8/91
	Singapore	  	HUEBSCH	  	T81/00054Z	  	1/6/02
	Rep Of So Africa	  	AJAX	  	3796/64	  	9/29/64
	Rep Of So Africa	  	HUEBSCH	  	B6176/78	  	12/27/88
	Rep Of So Africa	  	SPEED QUEEN	  	6723/83	  	9/20/93
	Rep Of So Africa	  	SPEED QUEEN	  	461/39/1	  	4/15/87
	Rep Of So Africa	  	SPEED QUEEN	  	461/39/2	  	4/15/87
	Rep Of So Africa	  	SPEED QUEEN	  	461/39/3	  	4/15/87
	S.W.A./Namibia	  	SPEED QUEEN	  	0150/84	  	3/6/94
	S.W.A./Namibia	  	SPEED QUEEN	  	0151/84	  	3/6/94
	Spain	  	SPEED QUEEN	  	508897	  	12/30/88
	Spain	  	UNIMAC	  	1589365	  	9/20/90
	Switzerland	  	AJAX	  	334587	  	9/8/64
	Switzerland	  	HUEBSCH SPEED QUEEN	  	306061	  	8/18/80
	Switzerland	  	SPEED QUEEN	  	347773	  	7/4/86
	Switzerland	  	UNIMAC	  	391934	  	7/30/91
	Thailand	  	HUEBSCH	  	436508/KOR125794	  	12/24/00
	Thailand	  	SPEED QUEEN	  	436509/KOR125795	  	12/8/00
	Thailand	  	UNIMAC	  	258130/KOR24124	  	12/29/93
	Un Arab Emirates	  	SPEED QUEEN	  	5112	  	1/15/94
	United Kingdom	  	HUEBSCH	  	B1106325	  	12/14/99
	United Kingdom	  	SPEED QUEEN	  	B822545	  	6/10/96
	United Kingdom	  	UNIMAC	  	1375639	  	3/4/89
	Uruguay	  	LAVE-RAP	  	291258	  	9/18/97
	Uruguay	  	LAVE-RAP & LOGO	  	268660	  	11/21/95
	Uruguay	  	UNKNOWN TRADEMARK	  	291259	  	11/12/96
	Venezuela	  	SPEED QUEEN	  	42880F	  	1/17/78

  

 51 

 Schedule 6 to Guarantee 
 and Collateral Agreement 
  
 Trademark Licenses

  

	 	•	 	Trademark License Agreement, dated September 10, 1997, between Raytheon Commercial Laundry, LLC (n/k/a Holdings) and Amana. 

  
 The Company grants to its distributors trademark licenses in connection with the distribution
of its products. 
  

 52 

 Schedule 7 to Guarantee 
 and Collateral Agreement 
  
 Contracts 
  
 None 
  

 Schedule 8 to Guarantee 
 and Collateral Agreement 
  
 Government Contracts 
  
 General Services Administration
(U.S. Government Entity) contract number GS-21F-0007J (awarded to solicitation number 6FES-F6-980200-B) with Alliance Laundry Systems LLC, dated July 28, 1999. 
  

Air Force Non-Appropriated Funds (“AFNAF”) contract number F41999-95-D-6075, dated May 1, 1995, between AFNAF (U.S. Government entity) AND Alliance Laundry
Systems LLC (contract amended to Alliance Laundry Systems LLC on Oct. 1, 1998). 
  
 Army Air Force Exchange Services (“AAFES”) contract number AAFES-PZ-E/EQ-94-011-95-016 dated May 8, 1995 between AAFES (u.s. Government Entity) and Alliance Laundry Systems LLC (contract amended to Alliance Laundry Systems LLC on
October 7, 1998). 
  
 Navy Exchange Service Command (NEXCOM) contract number
NNA250-98-D-0059 dated July 23, 1998 between NEXCOM (U.S. Government Entity) and Alliance Laundry Systems LLC. 
  

 Schedule 9 to Guarantee 
 and Collateral Agreement 
  
 Commercial Tort Claims 
  
 None 
  

 ACKNOWLEDGMENT AND CONSENT* 
  
 The undersigned hereby acknowledges receipt of a copy of the Guarantee and Collateral Agreement, dated as of January
            , 2005 (the “Agreement”), made by the Grantors parties thereto in favor of Lehman Commercial Paper Inc., as Administrative Agent. The undersigned agrees
for the benefit of the Administrative Agent and the Lenders as follows: 
  
 1. The undersigned will be bound by the terms of the Agreement and will comply with such terms insofar as such terms are applicable to the undersigned. 
  

2. The undersigned will notify the Administrative Agent promptly in writing of the occurrence of any of the events described in Section 5.8(a) of the
Agreement. 
  
 3. The terms of Sections 6.3(a) and 6.7 of the
Agreement shall apply to it, mutatis mutandis, with respect to all actions that may be required of it pursuant to Section 6.3(a) or 6.7 of the Agreement. 
  
 4. The undersigned agrees to comply with instructions originated by the Administrative Agent with respect to Investment
Property issued by it without further consent of the owner thereof. 
  

					
	 [NAME OF ISSUER]

		
	 By:
	 	 
	 	 	 Title:

  

			
	 Address for Notices:

	
	 
	
	 
		
	Fax:	 	 

	*	This consent is necessary only with respect to any Issuer which is not also a Grantor. 

  

 ANNEX 1 TO 
 GUARANTEE AND COLLATERAL AGREEMENT 
  
 ASSUMPTION AGREEMENT, dated as of
                                ,
200        , made by
                                        
    , a                          (the “Additional Grantor”), in favor of LEHMAN
COMMERCIAL PAPER INC., as administrative agent (in such capacity, the “Administrative Agent”) for the banks and other financial institutions (the “Lenders”) parties to the Credit Agreement referred to below. All
capitalized terms not defined herein shall have the meaning ascribed to them in such Credit Agreement. 
  
 W I T N E S S E T H : 
  
 WHEREAS, Alliance Laundry Systems LLC (the “Borrower”), Alliance Laundry Holdings LLC, the Lenders, the Administrative Agent, Lehman
Brothers Inc., as sole advisor, sole lead arranger and sole bookrunner,                         , as Syndication Agent,
and                              and
                            , as Documentation Agents, have entered into a Credit Agreement, dated as
of January             , 2005 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”); 
  
 WHEREAS, in connection with the Credit Agreement, the Borrower and certain of
its Affiliates (other than the Additional Grantor) have entered into the Guarantee and Collateral Agreement, dated as of January         , 2005 (as amended, supplemented or otherwise modified from time
to time, the “Guarantee and Collateral Agreement”) in favor of the Administrative Agent for the benefit of the Administrative Agent and the Secured Parties; 
  
 WHEREAS, the Credit Agreement requires the Additional Grantor to become a party to the Guarantee and Collateral Agreement;
and 
  
 WHEREAS, the Additional Grantor has agreed to execute and
deliver this Assumption Agreement in order to become a party to the Guarantee and Collateral Agreement; 
  
 NOW, THEREFORE, IT IS AGREED: 
  
 1. Guarantee and Collateral Agreement. By executing and delivering this Assumption Agreement, the Additional Grantor, as provided in Section 8.14
of the Guarantee and Collateral Agreement, hereby becomes a party to the Guarantee and Collateral Agreement as a Grantor thereunder with the same force and effect as if originally named therein as a Grantor and, without limiting the generality of
the foregoing, hereby expressly assumes all obligations and liabilities of a Grantor thereunder. The information set forth in Annex 1-A hereto is hereby added to the information set forth in Schedules
            ** to the Guarantee and Collateral 

	**	Refer to each Schedule which needs to be supplemented. 

  

 Agreement. The Additional Grantor hereby represents and warrants that each of the representations and warranties
contained in Section 4 of the Guarantee and Collateral Agreement is true and correct in all material respects on and as the date hereof (after giving effect to this Assumption Agreement) with respect to such Grantor as if made on and as of such
date. 
  
 2. GOVERNING LAW. THIS ASSUMPTION AGREEMENT
SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
  
 IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first above written. 

 

					
	 [ADDITIONAL GRANTOR]

		
	 By:
	 	 
	 	 	 Name:
	 	 
	 	 	 Title:Supplemental Indenture to the 1998 Indenture, dated January 20, 2005

 Exhibit 4.10 
  
 SUPPLEMENTAL INDENTURE 
  
 SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), is dated as of January 20, 2005, by and among Alliance Laundry Systems LLC, a
Delaware limited liability company (the “Company”), Alliance Laundry Corporation, a Delaware corporation (“ALC” and, together with the Company, the “Issuers”), the Guarantors identified on the signature
pages hereto and The Bank of New York, formerly United States Trust Company of New York, as trustee (the “Trustee”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Company, ALC, each domestic subsidiary of the Issuers listed on the signature page of the Indenture, dated as
of May 5, 1998 (the “Indenture”), and the Trustee have heretofore executed and delivered the Indenture, providing for the issuance by the Issuers of an aggregate principal amount of up to $110,000,000 of 9 5/8% Senior Subordinated
Notes due 2008 (the “Notes”); 
  
 WHEREAS, the
Indenture provides that (i) with the consent of the Holders of at least a majority in aggregate principal amount of the outstanding Notes as a single class (including consents obtained in connection with a tender offer for the Notes) certain
covenants and related provisions of the Indenture, the Notes and Guarantees may be amended or supplemented, (ii) without the consent of at least 75% of the aggregate principal amount of the outstanding Notes as a single class (including consents
obtained in connection with a tender offer or exchange offer, or purchase of, such Notes) no waiver or amendment to Sections 3.9, 4.10 and 4.15 of the Indenture may cause any changes that adversely affect the rights of any Holder of Notes and (iii)
an existing default or failure to comply with certain provisions of the Indenture or the Notes may be waived; 
  
 WHEREAS, the Issuers have offered to purchase for cash all of the outstanding Notes (the “Offer”) upon the terms and subject to the
conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated January 4, 2005 (the “Offer to Purchase”), as the same may be amended, supplemented or modified; 
  
 WHEREAS, the Offer is conditioned upon, among other things, (i) the consent
to the proposed amendments to the Indenture set forth herein (the “Proposed Majority Amendments”) of at least a majority in aggregate principal amount of the outstanding Notes, and (ii) the consent to the proposed amendments to the
Indenture set forth herein (the “Proposed Supermajority Amendments” and, together with the Proposed Majority Amendments, the “Proposed Amendments”) of at least 75% of the aggregate principal amount of the
outstanding Notes, with the effectiveness of (x) such Proposed Majority Amendments being subject to the acceptance for payment by the Issuers of the Notes representing not less than a majority in aggregate principal amount of Notes outstanding
pursuant to the Offer (the “Requisite Majority Consents”) and (y) such Proposed Supermajority Amendments being subject to the acceptance for payment by the Issuer of the Notes representing not less than 75% of the aggregate
principal amount of outstanding Notes pursuant to the Offer (the “Requisite Supermajority Consents” and, together with the Requisite Majority Consents, the “Requisite Consents”); 
  

 WHEREAS, the Issuers have received and delivered to the Trustee the Requisite Consents to effect the
Proposed Amendments; 
  
 WHEREAS, each of the Issuers have been
authorized by a resolution of its Board of Directors or Board of Managers, as applicable, to execute and deliver this Supplemental Indenture; and 
  
 WHEREAS, all other acts and proceedings required by law, by the Indenture, by the certificate of formation and the limited liability company agreement of
the Company and by the certificate of incorporation and by-laws of ACL to make this Supplemental Indenture, a valid and binding agreement for the purposes expressed herein, in accordance with its terms, have been duly done and performed; 

 
 NOW THEREFORE, in consideration of the premises and covenants and
agreements contained herein, and for other good and valuable consideration the receipt of which is hereby acknowledged, and for the benefit of the Holders of the Notes, the Issuers and the Trustee hereby agree as follows: 
  
 ARTICLE ONE 
  
 Section 1.1 Definitions. 
  
 Capitalized terms used in this Supplemental Indenture and not otherwise
defined herein shall have the respective meanings ascribed to such terms in the Indenture. 
  
 ARTICLE TWO 
  
 Section 2.1
Amendments. 
  
 (a) Each of the following sections of Article Three of the
Indenture shall be eliminated in its entirety except for its heading and be replaced with the words “INTENTIONALLY OMITTED”: 
  
 SECTION 3.9 OFFER TO PURCHASE BY APPLICATION OF EXCESS PROCEEDS 
  

In the event that, pursuant to Section 4.10 hereof, the Issuers shall be required to commence an Asset Sale Offer, they shall follow the procedures
specified below. 
  
 The Asset Sale Offer shall remain open for a
period of 20 Business Days following its commencement and no longer, except to the extent that a longer period is required by applicable law (the “Offer Period”). No later than five Business Days after the termination of the Offer Period
(the “Purchase Date”), the Issuers shall purchase the principal amount of Notes required to be purchased pursuant to Section 4.10 hereof (the “Offer Amount”) or, if less than the Offer Amount has been tendered, all Notes tendered
in response to the Asset Sale Offer. Payment for any Notes so purchased shall be made in the same manner as interest payments are made. 
  

 2 

 If the Purchase Date is on or after an interest record date and on or before the related interest payment
date, any accrued and unpaid interest shall be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest shall be payable to Holders who tender Notes pursuant to the Asset Sale
Offer. 
  
 Upon the commencement of an Asset Sale Offer, the
Issuers shall send, by first class mail, a written notice to the Trustee and to each of the Holders, with a copy to the Trustee. The notice shall contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the
Asset Sale Offer. The Asset Sale Offer shall be made to all Holders. The notice, which shall govern the terms of the Asset Sale Offer, shall state: 
  
 (a) that the Asset Sale Offer is being made pursuant to this Section 3.9 and Section 4.10 hereof and the length of time the Asset Sale Offer shall remain
open; 
  
 (b) the Offer Amount, the purchase price and the
Purchase Date; 
  
 (c) that any Note not tendered or accepted for
payment shall continue to accrete or accrue interest; 
  
 (d)
that, unless the Issuers default in making such payment, any Note accepted for payment pursuant to the Asset Sale Offer shall cease to accrete or accrue interest after the Purchase Date; 
  
 (e) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may only elect to have all of such Note
purchased and may not elect to have only a portion of such Note purchased; 
  
 (f) that Holders electing to have a Note purchased pursuant to any Asset Sale Offer shall be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the
Note completed, or transfer by book-entry transfer, to the Issuers, a depositary, if appointed by the Issuers, or a Paying Agent at the address specified in the notice at least three days before the Purchase Date; 
  
 (g) that Holders shall be entitled to withdraw their election if the Issuers,
the depositary or the Paying Agent, as the case may be, receives, not later than the expiration of the Offer Period, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note the
Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 
  
 (h) that, if the aggregate principal amount of Notes surrendered by Holders exceeds the Offer Amount, the Issuers shall select the Notes to be purchased
on a pro rata basis (with such adjustments as may be deemed appropriate by the Issuers so that only Notes in denominations of $1,000, or integral multiples thereof, shall be purchased); and 
  

 3 

 (i) that Holders whose Notes were purchased only in part shall be issued new Notes equal in principal
amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 
  
 On or before the Purchase Date, the Issuers shall, to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Offer Amount
of Notes or portions thereof tendered pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all Notes tendered, and shall deliver to the Trustee an Officers’ Certificate stating that such Notes or portions
thereof were accepted for payment by the Issuers in accordance with the terms of this Section 3.9. The Issuers, the Depositary or the Paying Agent, as the case may be, shall promptly (but in any case not later than five days after the Purchase Date)
mail or deliver to each tendering Holder an amount equal to the purchase price of the Notes tendered by such Holder and accepted by the Issuers for purchase, and the Issuers shall promptly issue a new Note, and the Trustee, upon receipt of an
Authentication Order from the Issuers shall authenticate and mail or deliver such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered
by the Issuers to the Holder thereof. The Issuers shall publicly announce the results of the Asset Sale Offer on the Purchase Date. 
  
 Other than as specifically provided in this Section 3.9, any purchase pursuant to this Section 3.9 shall be made pursuant to the provisions of Sections
3.1 through 3.6 hereof. 
  
 (b) Each of the following sections of Article Four of
the Indenture shall be eliminated in its entirety except for its heading and be replaced with the words “INTENTIONALLY OMITTED”: 
  
 SECTION 4.3 REPORTS. 
  
 (a) Whether or not required by the rules and regulations of the SEC, so long as any Notes are outstanding, the Issuers shall furnish to the Trustee and
the Holders of Notes (i) all quarterly and annual financial information that would be required to be contained in a filing with the SEC on Forms 10-Q and 10-K if the Issuers were required to file such Forms, including a “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” that describes the financial condition and results of operations of the Issuers and their consolidated Subsidiaries (showing in reasonable detail, either on the face of
the financial statements or in the footnotes thereto, the financial condition and results of operations of the Issuers and their Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries
of the Issuers) and, with respect to the annual information only, a report thereon by the Issuers’ certified independent accountants and (ii) all current reports that would be required to be filed with the SEC on Form 8-K if the Issuers were
required to file such reports, in each case within the time periods specified in the SEC’s rules and regulations. For so long as the Parent is a Guarantor of the Notes, the Issuers shall satisfy their obligations in this covenant with respect
to financial information relating to the Issuers by furnishing financial information relating to the Parent; provided that the same is accompanied by consolidating information that explains in reasonable detail the differences between the
information relating to the Parent, on the one hand, and the information relating to the Issuers and their Restricted 

  

 4 

 
Subsidiaries on a stand-alone basis, on the other hand. In addition, following the consummation of the exchange offer contemplated by the Registration Rights
Agreement, whether or not required by the rules and regulations of the SEC, the Issuers shall file a copy of all such information and reports with the SEC for public availability within the time periods specified in the SEC’s rules and
regulations (unless the SEC will not accept such a filing) and make such information available to securities analysts and prospective investors upon request. 
  
 (b) For so long as any Notes remain outstanding, the Issuers and the Guarantors shall furnish to the Holders and to securities analysts and prospective
investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
  
 SECTION 4.4 COMPLIANCE CERTIFICATE. 
  
 (a) The Issuers and each Guarantor (to the extent that such Guarantor is so required under the TIA) shall deliver to the Trustee, within 90 days after the
end of each fiscal quarter, an Officers’ Certificate stating that a review of the activities of the Issuers and their Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to
determining whether the Issuers have kept, observed, performed and fulfilled their obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Issuers have
kept, observed, performed and fulfilled each and every covenant contained in this Indenture and are not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of
Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Issuers are taking or propose to take with respect thereto) and that to the best of his or her knowledge no
event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action the Issuers are taking
or propose to take with respect thereto. 
  
 (b) So long as not
contrary to the then current recommendations of the American Institute of Certified Public Accountants, the year-end financial statements delivered pursuant to Section 4.3(a) above shall be accompanied by a written statement of the Issuers’
independent public accountants (who shall be a firm of established national reputation) that in making the examination necessary for certification of such financial statements, nothing has come to their attention that would lead them to believe that
the Issuers have violated any provisions of Article 4 or Article 5 hereof or, if any such violation has occurred, specifying the nature and period of existence thereof, it being understood that such accountants shall not be liable directly or
indirectly to any Person for any failure to obtain knowledge of any such violation. 
  
 (c) The Issuers shall, so long as any of the Notes are outstanding, deliver to the Trustee, forthwith upon any Officer becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such
Default or Event of Default and what action the Issuers are taking or propose to take with respect thereto. 
  

 5 

 SECTION 4.5 TAXES. 
  
 The Issuers shall pay, and shall cause each of their Subsidiaries to pay, prior to delinquency, all material taxes,
assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes. 
  
 SECTION 4.6 STAY, EXTENSION AND USURY LAWS. 
  
 Each of the Issuers and the Guarantors covenants (to the extent that it may
lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the
covenants or the performance of this Indenture; and the Issuers and each Guarantor (to the extent that they may lawfully do so) hereby expressly waive all benefit or advantage of any such law, and covenant that they shall not, by resort to any such
law, hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 
  
 SECTION 4.7 RESTRICTED PAYMENTS. 
  
 The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly: (i) declare or pay any dividend or make any other payment or distribution on account of the Company’s or any of its Restricted Subsidiaries’ Equity Interests (including, without limitation, any
payment in connection with any merger or consolidation involving the Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the Company’s or any of its Restricted Subsidiaries’ Equity Interests in their
capacity as such (other than dividends or distributions payable in Equity Interests (other than Disqualified Stock) of the Company or to the Company or a Restricted Subsidiary of the Company); (ii) purchase, redeem or otherwise acquire or retire for
value (including, without limitation, in connection with any merger or consolidation involving the Company) any Equity Interests of the Company or any direct or indirect parent of the Company or other Affiliate of the Company (other than any such
Equity Interests owned by the Company or any Restricted Subsidiary); (iii) make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value any Indebtedness that is subordinated to the Notes or any
guarantee thereof, except a payment of interest or principal at Stated Maturity; or (iv) make any Restricted Investment (all such payments and other actions set forth in clauses (i) through (iv) above being collectively referred to as
“Restricted Payments”), unless, at the time of and after giving effect to such Restricted Payment: 
  
 (a) no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof; and 
  
 (b) the Company would, at the time of such Restricted Payment and after
giving pro forma effect thereto as if such Restricted Payment had been made at the beginning of the applicable four-quarter period, have been permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio
test set forth in the first paragraph of the covenant described below under Section 4.9 hereof; and 
  

 6 

 (c) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by
the Company and its Restricted Subsidiaries after the date of this Indenture (excluding Restricted Payments permitted by clauses (ii), (iii), (iv), (vi), (vii), (viii) and (ix) of the next succeeding paragraph), is less than the sum, without
duplication, of (i) 50% of the Consolidated Net Income of the Company and its Restricted Subsidiaries for the period (taken as one accounting period) from the beginning of the first fiscal quarter commencing after the date of this Indenture to the
end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, if such Consolidated Net Income for such period is a deficit, less 100% of such deficit),
plus (ii) 100% of the aggregate net proceeds (including the fair market value of property other than cash (determined in good faith by the Board of Managers as evidenced by a certificate filed with the Trustee, except that in the event the value of
any non-cash consideration shall be $15.0 million or more, the value shall be as determined based upon an opinion or appraisal issued by an Independent Financial Advisor)) received by the Company since the date of this Indenture as a contribution to
its common equity capital or from the issue or sale of Equity Interests (other than Disqualified Stock) of the Company (excluding any net proceeds from an Equity Offering or capital contribution to the extent used to redeem Notes in accordance with
the optional redemption provisions of the Notes) or from the issue or sale of Disqualified Stock or debt securities of the Company that have been converted into such Equity Interests (other than Equity Interests (or Disqualified Stock or convertible
debt securities) sold to a Subsidiary of the Company), plus (iii) to the extent that any Restricted Investment that was made after the date of this Indenture is sold for cash or otherwise liquidated or repaid for cash, the cash return of capital
with respect to such Restricted Investment (less the cost of disposition, if any), plus (iv) any dividends (the fair market value of property other than cash shall be determined in good faith by the Board of Managers as evidenced by a certificate
filed with the Trustee, except that in the event the value of any non-cash consideration shall be $15.0 million or more, the value shall be as determined based upon an opinion or appraisal issued by an Independent Financial Advisor) received by the
Company or a Restricted Subsidiary after the date of this Indenture from an Unrestricted Subsidiary of the Company, to the extent that such dividends were not otherwise included in Consolidated Net Income of the Company for such period, plus (v) to
the extent that any Unrestricted Subsidiary is redesignated as a Restricted Subsidiary after the date of this Indenture, if as a result of such redesignation, (x) the Fixed Charge Coverage Ratio of the Company on a pro forma basis is lower than such
ratio immediately prior thereto, then the lesser of (A) the fair market value of the Company’s Investment in such Subsidiary as of the date of such redesignation or (B) such fair market value as of the date on which such Subsidiary was
originally designated as an Unrestricted Subsidiary or (y) the Fixed Charge Coverage Ratio of the Company on a pro forma basis is equal to or higher than such ratio immediately prior thereto, the fair market value of the Company’s Investment in
such Subsidiary as of the date of such redesignation; provided, further that any increase in the amount of Restricted Payments permitted to be incurred as a result of application of subparagraphs (iii), (iv) or (v) above related to dividends,
returns of capital or redesignation of foreign joint ventures shall be reduced by the difference between (A) the fair market value of any equipment (as determined by sales by the Company of comparable equipment to unaffiliated third parties)
transferred to such joint ventures in reliance on subparagraph (xii) of the covenant entitled “Transactions with Affiliates” and (B) the value received by the Company or any Restricted Subsidiary from such joint venture with respect to
such equipment transfer. 
  

 7 

 The foregoing provisions shall not prohibit (i) the payment of any dividend within 60 days after the date
of declaration thereof, if at said date of declaration such payment would have complied with the provisions of this Indenture; (ii) the redemption, repurchase, retirement, defeasance or other acquisition of any Equity Interests of the Company or
subordinated Indebtedness of the Company or any Guarantors in exchange for, or out of the net cash proceeds of the substantially concurrent sale (other than to a Subsidiary of the Company) of, other Equity Interests of the Company (other than any
Disqualified Stock); provided that the amount of any such net cash proceeds that are utilized for any such redemption, repurchase, retirement, defeasance or other acquisition shall be excluded from clause (ii) of the preceding paragraph provided
that no Default or Event of Default shall have occurred and be continuing immediately after such transaction; (iii) the defeasance, redemption, repurchase or other acquisition of subordinated Indebtedness with the net cash proceeds from an
incurrence of Permitted Refinancing Indebtedness; (iv) the payment of any dividend by a Restricted Subsidiary of the Company to the holders of its Equity Interests on a pro rata basis; (v) the repurchase, redemption or other acquisition or
retirement for value of any Equity Interests of the Parent, the Company or any Restricted Subsidiary of the Company held by any member of the Company’s (or any of its Restricted Subsidiaries’) management pursuant to any management
agreement, stock option agreement or similar agreement; provided that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests shall not exceed $5.0 million in the aggregate since the date of this Indenture
(and shall be increased by the amount of any net cash proceeds to the Company from (x) sales of Equity Interests of the Parent to management employees subsequent to the date of this Indenture and (y) any “key-man” life insurance policies
which are used to make such redemptions or repurchases) and no Default or Event of Default shall have occurred and be continuing immediately after such transaction; provided further, that the cancellation of Indebtedness owing to the Company from
members of management of the Company or any of its Restricted Subsidiaries in connection with such a repurchase of Capital Stock of the Parent will not be deemed to constitute a Restricted Payment under this Indenture; (vi) the making of
distributions, loans or advances to the Parent in an amount not to exceed $1.5 million per annum in order to permit the Parent to pay required and ordinary operating expenses of the Parent (including, without limitation, directors’ fees,
indemnification obligations, professional fees and expenses, but excluding any payments on or repurchases of the Seller Subordinated Note or the Seller Preferred Equity); (vii) distributions to the Parent to fund the required tax obligations of the
Parent or its members related to income generated by the Company and its Restricted Subsidiaries and taxable to such members, including the tax distributions contemplated by Article IV of the LLC Agreement as in effect on the date of this Indenture;
(viii) repurchases of Capital Stock deemed to occur upon the exercise of stock options if such Capital Stock represents a portion of the exercise price thereof; (ix) distributions to the Parent to fund the Transactions; (x) distributions to the
Parent to purchase or redeem the Seller Subordinated Note and the Seller Preferred Equity pursuant to change of control provisions contained in the governing instrument relating thereto; provided, however, that (x) no offer or purchase obligation
may be triggered in respect of such Seller Subordinated Note or Seller Preferred Equity unless a corresponding obligation also arises with respect to the Notes and (y) in any event, no repurchase or redemption of any such Seller Subordinated Note or
Seller Preferred Equity may be consummated unless and until the Issuers shall have satisfied all repurchase obligations with respect to any required purchase offer made with respect to the 

  

 8 

 
Notes; provided, however, that such purchases or redemption of the Seller Subordinated Note or the Seller Preferred Equity shall be included in the
calculation of the amount of Restricted Payments and provided that no Default or Event of Default shall have occurred and be continuing as a consequence thereof; and (xi) if no Default or Event of Default shall have occurred and be continuing or
would occur as a consequence thereof, other Restricted Payments in an aggregate amount not to exceed $5.0 million since the date of this Indenture. In addition, any dividend which is declared but not paid shall not be included in the calculation of
Restricted Payments under clause (c), and any divided which is declared and paid shall be included only once in the calculation of Restricted Payments under clause (c). 
  
 The amount of all Restricted Payments (other than cash) shall be the fair market value on the date of the Restricted Payment
of the asset(s) or securities proposed to be transferred or issued by the Company or such Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment. The fair market value of any non-cash Restricted Payment shall be determined by
the Board of Managers of the Company whose resolution with respect thereto shall be delivered to the Trustee, such determination to be based upon an opinion or appraisal issued by an Independent Financial Advisor if such fair market value $15.0
million. Not later than the date of making any Restricted Payment, the Company shall deliver to the Trustee an Officers’ Certificate stating that such Restricted Payment is permitted and setting forth the basis upon which the calculations
required by this Section 4.7 were computed, together with a copy of any fairness opinion or appraisal required by this Indenture. 
  
 The Board of Managers may designate any Restricted Subsidiary to be an Unrestricted Subsidiary if such designation would not cause a Default. For purposes
of making such determination, all outstanding Investments by the Company and its Restricted Subsidiaries (except to the extent repaid in cash) in the Subsidiary so designated will be deemed to be Restricted Payments at the time of such designation
and will reduce the amount available for Restricted Payments under the first paragraph of this covenant. All such outstanding Investments will be deemed to constitute Investments in an amount equal to the fair market value of such Investments at the
time of such designation. Such designation will only be permitted if such Restricted Payment would be permitted at such time and if such Restricted Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. 
  
 Any designation of an Unrestricted Subsidiary by the Board of Managers shall
be evidenced to the Trustee by filing with the Trustee a certified copy of the resolution of the Board of Managers of the Company giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the
terms of the Indenture governing the designation of Unrestricted Subsidiaries and was permitted by this Section 4.7. If, at any time, any Unrestricted Subsidiary fails to meet the foregoing requirements as an Unrestricted Subsidiary, it shall
thereafter cease to be an Unrestricted Subsidiary for purposes of the Indenture and any Indebtedness of such Subsidiary shall be deemed to be incurred by a Restricted Subsidiary of the Company as of such date (and, if such Indebtedness is not
permitted to be incurred as of such date under the covenant described under Section 4.9 hereof, the Company shall be in default of such covenant). The Board of Managers of the Company may at any time designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided that such designation shall be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of 

  

 9 

 
the Company of any outstanding Indebtedness of such Unrestricted Subsidiary and such designation shall only be permitted if (i) such Indebtedness is
permitted under Section 4.9 hereof calculated on a pro forma basis as if such designation had occurred at the beginning of the four-quarter reference period, (ii) such Subsidiary shall execute a Note Guarantee and deliver an Opinion of Counsel in
accordance with the terms of this Indenture and (iii) no Default or Event of Default would be in existence following such designation. 
  
 SECTION 4.8 DIVIDEND AND OTHER PAYMENT RESTRICTIONS AFFECTING SUBSIDIARIES. 
  
 The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create or
otherwise cause or suffer to exist or become effective any encumbrance or restriction on the ability of any Restricted Subsidiary to (i) (a) pay dividends or make any other distributions to the Company or any of its Restricted Subsidiaries (1) on
its Capital Stock or (2) with respect to any other interest or participation in, or measured by, its profits, or (b) pay any Indebtedness owed to the Company or any of its Restricted Subsidiaries, (ii) make loans or advances to the Company or any of
its Restricted Subsidiaries or (iii) transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries. However, the foregoing restrictions will not apply to encumbrances or restrictions existing under or by reason of (a)
Existing Indebtedness as in effect on the date of this Indenture (b) the Senior Credit Facility as in effect as of the date of this Indenture, and any amendments, modifications, restatements, renewals, increases, supplements, refundings,
replacements or refinancings thereof, provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are no more restrictive, taken as a whole, with respect to such dividend and
other payment restrictions than those contained in the Senior Credit Facility as in effect on the date of this Indenture, (c) this Indenture and the Notes, (d) applicable law, (e) any instrument governing Indebtedness or Capital Stock of a Person
acquired by the Company or any of its Restricted Subsidiaries as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred in connection with or in contemplation of such acquisition), which encumbrance or
restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired, provided that, in the case of Indebtedness, such Indebtedness was permitted by the
terms of this Indenture to be incurred, (f) customary non-assignment provisions in leases entered into in the ordinary course of business and consistent with past practices, (g) purchase money obligations for property acquired in the ordinary course
of business that impose restrictions of the nature described in clause (iii) above on the property so acquired, (h) any agreement for the sale of a Restricted Subsidiary that restricts distributions by that Restricted Subsidiary pending its sale,
(i) Permitted Refinancing Indebtedness, provided that the restrictions contained in the agreements governing such Permitted Financing Indebtedness are no more restrictive, taken as a whole, than those contained in the agreements governing the
Indebtedness being refinanced, (j) secured Indebtedness otherwise permitted to be incurred pursuant to the provisions of the covenant described in Section 4.12 hereof that limits the right of the debtor to dispose of the assets securing such
Indebtedness, (k) provisions with respect to the disposition or distribution of assets or property in joint venture agreements and other similar agreements entered into in the ordinary course of business, (1) restrictions on cash or other deposits
or net worth imposed by customers under contracts entered into in the ordinary course of business, (m) any Purchase Money Note, or other 

  

 10 

 
Indebtedness or other contractual requirements of a Securitization Entity in connection with a Qualified Securitization Transaction; provided that such
restrictions apply only to such Securitization Entity, (n) other Indebtedness of a Restricted Subsidiary that is a Guarantor permitted to be incurred subsequent to the date of this Indenture pursuant to the provisions of the covenant described in
Section 4.9 hereof; provided that any such restrictions are ordinary and customary with respect to the type of Indebtedness or preferred stock being incurred or issued (under the relevant circumstances), and (o) any encumbrances or restrictions
imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (a) through (n) above; provided that such
amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Company’s Board of Managers, no more restrictive with respect to such dividend and
payment restrictions than those contained in the dividend or other payment restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 
  
 SECTION 4.9 INCURRENCE OF INDEBTEDNESS AND ISSUANCE OF PREFERRED STOCK.

  
 The Issuers shall not, and shall not permit any of their
Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including
Acquired Debt) and the Issuers shall not issue any Disqualified Stock and shall not permit any of their Restricted Subsidiaries to issue any shares of preferred stock; provided, however, that the Company or any Guarantor may incur Indebtedness
(including Acquired Debt) or issue shares of Disqualified Stock or preferred stock if (i) no Default or Event of Default shall have occurred and be continuing at the time of or as consequence of the incurrence of any such Indebtedness or the
issuance of any such Disqualified Stock and (ii) the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such
additional Indebtedness is incurred or such Disqualified Stock is issued would have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had
been incurred, or the Disqualified Stock had been issued, as the case may be, at the beginning of such four-quarter period. 
  
 The provisions of the first paragraph of this Section 4.9 shall not apply to the incurrence of any of the following items of Indebtedness (collectively,
“Permitted Debt”): 
  
 (i) the incurrence by the Company
(and the guarantee thereof by the Guarantors) of Indebtedness and letters of credit under one or more Senior Credit Facilities; provided that the aggregate principal amount of all Indebtedness (with letters of credit being deemed to have a principal
amount equal to the maximum potential liability of the Company and its Restricted Subsidiaries thereunder) outstanding under all Senior Credit Facilities after giving effect to such incurrence does not exceed an amount equal to the greater of (x)
$275.0 million less the aggregate amount of all repayments of any term Indebtedness and all commitment reductions of any revolving Indebtedness, in each case, under one or more Senior Credit Facilities pursuant to 

  

 11 

 
clause (i) of the third paragraph of the covenant described in Section 4.10 hereof and (y) the Company’s Borrowing Base; 
  
 (ii) the incurrence by the Issuers of Indebtedness represented by the Notes
and the Guarantees thereof by the Guarantors in an aggregate principal amount of $110.0 million outstanding on the date of this Indenture; 
  
 (iii) the incurrence by a Restricted Subsidiary that is a Foreign Subsidiary and is not a Guarantor of the Notes in an amount at any one time outstanding
that does not exceed (x) $3.0 million plus (y) the Borrowing Base of such Restricted Subsidiary; provided, that none of the Company or any other such Restricted Subsidiary shall be obligated, directly or indirectly, to pay principal, premium,
interest or other amounts thereon or in respect thereof (including by way of net worth requirements, equity keepwells, etc.); 
  
 (iv) the incurrence by the Company and its Subsidiaries of other Indebtedness outstanding on the date of this Indenture for so long as such Indebtedness
remains outstanding; 
  
 (v) the incurrence by the Company or any
of its Restricted Subsidiaries of Indebtedness (including Capitalized Lease Obligations) to finance the purchase, lease or improvement of property (real or personal) or equipment (whether through the direct purchase of assets or the Capital Stock of
any Person owning such assets) in an aggregate principal amount outstanding not to exceed the greater of (x) $10.0 million and (y) 7.5% of Total Assets at the time of any incurrence thereof (including any Refinancing Indebtedness with respect
thereto) (which amount may, but need not, be incurred in whole or in part under the Senior Credit Facilities); 
  
 (vi) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness constituting reimbursement obligations with respect to letters of
credit issued in the ordinary course of business, including, without limitation, letters of credit in respect of workers’ compensation claims or self-insurance, or other Indebtedness with respect to reimbursement type obligations regarding
workers’ compensation claims; 
  
 (vii) the incurrence by the
Company or any of its Restricted Subsidiaries of Indebtedness arising from agreements of the Company or a Restricted Subsidiary of the Company providing for indemnification, adjustment of purchase price, earn out or other similar obligations, in
each case, incurred or assumed in connection with the disposition of any business, assets or a Restricted Subsidiary of the Company, other than guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business, assets
or Restricted Subsidiary for the purpose of financing such acquisition; provided that the maximum assumable liability in respect of all such Indebtedness shall at no time exceed the gross proceeds actually received by the Company and its Restricted
Subsidiaries in connection with such disposition; 
  
 (viii) the
incurrence by the Company or any of its Restricted Subsidiaries of obligations in respect of performance and surety bonds and completion guarantees provided by the Company or any Restricted Subsidiary of the Company in the ordinary course of
business; 
  

 12 

 (ix) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in connection
with an industrial revenue bond in an aggregate principal amount not to exceed $10.0 million for the expansion of the Company’s Madisonville, Kentucky facility; 
  
 (x) the incurrence by the Company or any of its Restricted Subsidiaries of Permitted Refinancing Indebtedness in exchange
for, or the net proceeds of which are used to refund, refinance or replace Indebtedness (other than intercompany Indebtedness) that was permitted by this Indenture to be incurred under the first paragraph hereof or clauses (ii) and (iv) of this
paragraph or any Indebtedness issued to so refund, refinance or replace such Indebtedness; 
  
 (xi) the incurrence by the Company or any of its Restricted Subsidiaries of intercompany Indebtedness between or among the Company and any of its Restricted Subsidiaries; provided, however, that (i) if the Company is
the obligor on such Indebtedness, such Indebtedness is expressly subordinated to the prior payment in full in cash of all Obligations with respect to the Notes and (ii)(A) any subsequent issuance or transfer of Equity Interests that results in any
such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary thereof and (B) any sale or other transfer of any such Indebtedness to a Person that is not either the Company or a Restricted Subsidiary thereof shall be
deemed, in each case, to constitute an incurrence of such Indebtedness by the Company or such Subsidiary, as the case may be, that was not permitted by this clause (xi); 
  
 (xii) the incurrence by the Company or any of its Restricted Subsidiaries of Hedging Obligations that are incurred in the
normal course of business and not for speculative purposes used for fixing or hedging currency or interest rate risk with respect to any floating rate Indebtedness that is permitted by the terms of this Indenture to be outstanding; provided,
however, that in the case of Hedging Obligations that are incurred for the purpose of fixing or hedging interest rate risks with respect to Indebtedness, the notional principal amount of any such Hedging Obligation does not exceed the principal
amount of the Indebtedness to which such Hedging Obligation relates; 
  
 (xiii) the guarantee by the Company or any of the Guarantors of Indebtedness that was permitted to be incurred by another provision of this covenant ; 
  

(xiv) the incurrence by the Company’s Unrestricted Subsidiaries of Non-Recourse Debt; provided, however, that if any such Indebtedness ceases to
be Non-Recourse Debt of an Unrestricted Subsidiary, such event shall be deemed to constitute an incurrence of Indebtedness by a Restricted Subsidiary of the Company that was not permitted by this clause (xiv); 
  
 (xv) the incurrence by a Securitization Entity of Indebtedness in a Qualified
Securitization Transaction that is Non-Recourse Debt with respect to the Company and its other Restricted Subsidiaries (except for Standard Securitization Undertakings and Limited Originator Recourse); and 
  
 (xvi) the incurrence by the Company or any of its Restricted Subsidiaries
that is a Guarantor of additional Indebtedness and/or the issuance of Disqualified Stock in an aggregate principal amount or aggregate liquidation value, as applicable (or accreted value, as applicable) 

  

 13 

 
at any time outstanding, including all Permitted Refinancing Indebtedness incurred to refund, refinance or replace any Indebtedness incurred pursuant to this
clause (xvi), not to exceed $30.0 million. 
  
 For purposes of
determining compliance with this covenant, in the event that an item of Indebtedness meets the criteria of more than one of the categories of Permitted Debt described in clauses (i) through (xvi) above or is entitled to be incurred pursuant to the
first paragraph of this covenant, the Company shall, in its sole discretion, classify or later reclassify such item of Indebtedness in any manner that complies with this covenant. Accrual of interest, accretion or amortization of original issue
discount and the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms will not be deemed to be an incurrence of Indebtedness for purposes of this covenant; provided, in each such case, that the amount
thereof is included in Fixed Charges of the Company as accrued. 
  
 SECTION 4.10 ASSET SALES. 
  
 The Company shall not, and
shall not permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless (i) the Company or such Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at least equal to the fair market value
(evidenced by a resolution of the Board of Managers set forth in an Officers’ Certificate delivered to the Trustee) of the assets or Equity Interests issued or sold or otherwise disposed of and (ii) at least 75% of the consideration therefor
received by the Company or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; provided that the amount of (x) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent
balance sheet) of the Company or any Restricted Subsidiary (other than contingent liabilities and liabilities that are by their terms subordinated to the Notes or any guarantee thereof) that are assumed by the transferee of any such assets pursuant
to a customary novation agreement that releases the Company or such Restricted Subsidiary from further liability and (y) any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee that
are immediately converted by the Company or such Restricted Subsidiary into cash (to the extent of the cash received) shall be deemed to be cash for purposes of this provision. 
  
 Notwithstanding the immediately preceding paragraph, the Company and its Restricted Subsidiaries shall be permitted to
consummate an Asset Sale without complying with the prior paragraph if (i) the Company or the applicable Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at least equal to the fair market value of the
assets or other property sold, issued or otherwise disposed of (as evidenced by a resolution of the Company’s Board of Managers set forth in an Officers’ Certificate delivered to the Trustee) and (ii) at least 75% of the consideration for
such Asset Sale constitutes a controlling interest in a Permitted Business, long-term assets used or useful in a Permitted Business and/or cash or Cash Equivalents; provided that any cash or Cash Equivalents received by the Company or any of its
Restricted Subsidiaries in connection with any Asset Sale permitted to be consummated under this paragraph shall constitute Net Proceeds subject to the provisions of the next succeeding paragraph. 
  

 14 

 Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Company may apply such Net
Proceeds, at its option, (i) to repay Senior Debt and, in the case of any Senior Debt under any revolving credit facility, effect a corresponding commitment reduction under such credit facility, (ii) to the acquisition of a controlling interest in a
Permitted Business, the making of a capital expenditure or the acquisition of other Additional Assets or (iii) a combination of prepayment and investment permitted by the forgoing clauses (i) and (ii). Pending the final application of any such Net
Proceeds, the Company may temporarily reduce revolving credit borrowings or otherwise invest such Net Proceeds in any manner that is not prohibited by this Indenture. Any Net Proceeds from Asset Sales that are not applied or invested as provided in
the first sentence of this paragraph will be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $10.0 million, the Issuers will be required to make an offer to all Holders of Notes (an “Asset
Sale Offer”) to purchase the maximum principal amount of Notes that may be purchased out of the Excess Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount thereof plus accrued and unpaid interest and
Liquidated Damages thereon, if any, to the date of purchase, in accordance with the procedures set forth in this Indenture (the first date the aggregate of all such Net Proceeds is equal to $10.0 million or more shall be deemed an “Asset Sale
Offer Trigger Date”). Each Asset Sale Offer will be mailed to the record Holders as shown on the register of Holders within 25 days following the Asset Sale Offer Trigger Date, with a copy to the Trustee, and shall comply with the procedures
set forth in this Indenture. Upon receiving notice of the Asset Sale Offer, Holders may elect to tender their Notes in whole or in part in integral multiples of $1,000 in exchange for cash. To the extent that any Excess Proceeds remain after
consummation of an Asset Sale Offer, the Company may use such Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate principal amount of Notes tendered into such Asset Sale Offer surrendered by Holders thereof
exceeds the amount of Excess Proceeds, the Trustee shall select the Notes to be purchased among the Holders of the Notes in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if
the Notes are not so listed, on a pro rata basis, by lot or in accordance with any other method the Trustee considers fair and appropriate. Upon completion of such offer to purchase, the amount of Excess Proceeds shall be reset at zero. 

 
 The Issuers shall comply with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any
securities laws or regulations conflict with the Asset Sale provisions of this Indenture, the Issuers shall comply with the applicable securities laws and regulations and shall not be deemed to have breached their obligations under the Asset Sale
provisions of this Indenture by virtue thereof. 
  
 SECTION 4.11
TRANSACTIONS WITH AFFILIATES. 
  
 The Company shall not, and
shall not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any
transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate (each of the foregoing, an “Affiliate Transaction”), unless (i) such Affiliate Transaction is on 

  

 15 

 
terms that are no less favorable to the Company or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by
the Company or such Restricted Subsidiary with an unrelated Person and (ii) the Company delivers to the Trustee (a) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of
$3.0 million, a resolution of the Board of Managers set forth in an Officers’ Certificate certifying that such Affiliate Transaction complies with clause (i) above and that such Affiliate Transaction has been approved by a majority of the
disinterested members of the Board of Managers and (b) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of $10.0 million, an opinion as to the fairness to the Holders
of such Affiliate Transaction from a financial point of view issued by an Independent Financial Advisor. Notwithstanding the foregoing, the following items shall not be deemed to be Affiliate Transactions: (i) any employment agreement entered into
by the Company or any of its Restricted Subsidiaries in the ordinary course of business and consistent with the past practice of the Company or such Restricted Subsidiary, (ii) transactions exclusively between or among the Company and/or its
Restricted Subsidiaries, provided such transactions have not otherwise been prohibited by this Indenture, (iii) payment of reasonable directors fees to Persons who are not otherwise Affiliates of the Company, (iv) transactions effected as part of a
Qualified Securitization Transaction, (v) Restricted Payments that are permitted by the provisions of Section 4.7 hereof, (vi) reasonable fees and compensation paid to, and indemnity provided on behalf of, officers, directors, employees or
consultants of the Company or any Subsidiary as determined in good faith by the Company’s Board of Managers or senior management, (vii) the payment of consulting and advisory fees, annual management fees and related expenses to the Principals
made pursuant to any financial advisory, financing, underwriting or placement agreement or in respect of other investment banking activities, including, without limitation, in connection with acquisitions or divestitures which are approved by the
Board of Managers of the Company or such Restricted Subsidiary in good faith, (viii) any agreement as in effect on the date of this Indenture or any amendment thereto or any transaction contemplated thereby (including pursuant to any amendment
thereto) in any replacement agreement thereto so long as any such amendment or replacement agreement is not more disadvantageous to the Holders in any material respect than the original agreement as in effect on the date of this Indenture, (ix)
payments or loans to employees or consultants which are approved by the Board of Managers of the Company in good faith, (x) the existence of, or the performance by the Company or any of its Restricted Subsidiaries of its obligations under the terms
of, any stockholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the date of this Indenture and any similar agreements which it may enter into thereafter; provided,
however, that the existence of, or the performance by the Company or any of its Restricted Subsidiaries of obligations under, any future amendment to any such existing agreement or under any similar agreement entered into after the date of this
Indenture shall only be permitted by this clause (x) to the extent that the terms of any such amendment or new agreement are not otherwise disadvantageous to the Holders of the Notes in any material respect, (xi) transactions with customers,
clients, suppliers, joint venture partners or purchasers or sellers of goods or services, in each case in the ordinary course of business (including, without limitation, pursuant to joint venture agreements) and otherwise in compliance with the
terms of this Indenture which are fair to the Company or its Restricted Subsidiaries, in the good faith determination of the Board of Managers of the Company or the senior management thereof, or are on terms at least as favorable as might reasonably
have been 

  

 16 

 
obtained at such time from an unaffiliated party and (xii) in the case of foreign joint ventures, transfers of equipment for sale outside of North America in
exchange for value not less than the Company’s cost of producing such equipment. 
  
 SECTION 4.12 LIENS. 
  
 The
Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or otherwise cause or suffer to exist or become effective any Lien of any kind securing Indebtedness or trade payables
(other than Permitted Liens) upon any of their property or assets, now owned or hereafter acquired, unless (i) in the case of Liens securing Indebtedness that is expressly subordinated or junior in right of payment to the Notes, the Notes are
secured on a senior basis to the obligations so secured until such time as such obligations are no longer secured by a Lien and (ii) in all other cases, the Notes are secured on an equal and ratable basis with the obligations so secured until such
time as such obligations are no longer secured by a Lien. 
  
 SECTION 4.13 BUSINESS ACTIVITIES. 
  
 The Company shall
not, and shall not permit any Restricted Subsidiary to, engage in any line of business other than Permitted Businesses, except to such extent as would not be material to the Company and its Restricted Subsidiaries taken as a whole, and ALC shall not
own any operating assets or other properties or conduct any business other than to serve as an Issuer and obligor on the Notes. 
  
 SECTION 4.14 CORPORATE EXISTENCE. 
  
 Subject to Article 5 hereof, the Issuers shall do or cause to be done all things necessary to preserve and keep in full force and effect (i) their limited
liability company or corporate existence, and the corporate, partnership, limited liability company or other existence of each of their Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to
time) of the Issuers or any such Subsidiary and (ii) the rights (charter and statutory), licenses and franchises of the Issuers and their Subsidiaries; provided, however, that the Issuers shall not be required to preserve any such right, license or
franchise, or the corporate, partnership, limited liability company or other existence of any of their Subsidiaries, if the Board of Managers or the Board of Directors, as the case may be, shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Issuers and their Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Holders of the Notes. 
  
 SECTION 4.15 OFFER TO REPURCHASE UPON CHANGE OF CONTROL. 
  
 (a) Upon the occurrence of a Change of Control, each Holder of Notes shall
have the right to require the Issuers to repurchase all or any part (equal to $1,000 or an integral multiple thereof) of such Holder’s Notes pursuant to the offer described in this Section 4.15 (the “Change of Control Offer”) at an
offer price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest and Liquidated Damages thereon, if any, to the date of 

  

 17 

 
purchase (the “Change of Control Payment”). Within 10 days following any Change of Control, the Issuers shall mail a notice to each Holder
describing the transaction or transactions that constitute the Change of Control and offering to repurchase Notes on the date specified in such notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice
is mailed (the “Change of Control Payment Date”), pursuant to the procedures required by this Indenture and described in such notice. The Issuers shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control. 
  
 (b) On a Change of Control Payment Date, the Issuers shall, to the extent lawful, (i) accept for payment all Notes or
portions thereof properly tendered pursuant to the Change of Control Offer, (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof so tendered and (iii) deliver or cause to be
delivered to the Trustee the Notes so accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the Issuers. The Paying Agent shall promptly mail to each Holder of
Notes so tendered the Change of Control Payment for such Notes, and the Trustee shall upon receipt of an Authentication Order authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any
unpurchased portion of the Notes surrendered, if any; provided that each such new Note shall be in a principal amount of $1,000 or an integral multiple thereof. Prior to complying with the provisions of this Section 4.15, but in any event within 90
days following a Change of Control, the Issuers shall either repay all outstanding Senior Debt or obtain the requisite consents, if any, under all agreements governing outstanding Senior Debt to permit the repurchase of Notes required by this
Section 4.15. The Issuers shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 
  
 The Change of Control provisions described above will be applicable whether or not other provisions of this Indenture are
applicable. 
  
 (c) Notwithstanding anything to the contrary in
this Section 4.15, the Issuers shall not be required to make a Change of Control Offer upon a Change of Control (i) if a third party makes the Change of Control Offer in a manner, at the times and otherwise in compliance with the requirements set
forth in this Section 4.15 and Section 3.09 hereof and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer or (ii) the Issuers exercise their option to purchase all the Notes upon a Change of Control as
described in Section 3.07 hereof. 
  
 SECTION 4.16 NO SENIOR
SUBORDINATED DEBT. 
  
 Notwithstanding the provisions of Section
4.9 hereof, (i) the Issuers shall not, directly or indirectly, incur any Indebtedness that is subordinate or junior in right of payment to any Senior Debt and senior in any respect in right of payment to the Notes and (ii) no Guarantor shall incur
any Indebtedness that is subordinate or junior in right of payment to its Guarantor Senior Debt and senior in any respect in right of payment to such Guarantor’s Guarantee. 
  

 18 

 SECTION 4.17 LIMITATION ON ISSUANCES OF GUARANTEES OF INDEBTEDNESS. 
  
 The Company shall not permit any Restricted Subsidiary, directly or
indirectly, to guarantee or pledge any assets to secure the payment of any other Indebtedness of the Company unless such Restricted Subsidiary simultaneously executes and delivers a supplemental indenture to this Indenture providing for the
Guarantee of the payment of the Notes by such Restricted Subsidiary, which Guarantee shall be senior to or pari passu with such Restricted Subsidiary’s Guarantee of or pledge to secure such other Indebtedness, unless such other Indebtedness is
Senior Debt, in which case the Guarantee of the Notes may be subordinated to the Guarantee of such Senior Debt to the same extent as the Notes are subordinated to such Senior Debt. Notwithstanding the foregoing, any such Guarantee by a Subsidiary of
the Notes shall provide by its terms that it shall be automatically and unconditionally released and discharged upon any sale, exchange or transfer, to any Person not an Affiliate of the Company, of all of the Company’s stock in, or all or
substantially all the assets of, such Restricted Subsidiary, which sale, exchange or transfer is made in compliance with the applicable provisions of this Indenture. 
  
 SECTION 4.18 PAYMENTS FOR CONSENT. 
  

Neither the Company nor any of its Subsidiaries shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest,
fee or otherwise, to any Holder of any Notes for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Notes unless such consideration is offered to be paid or is paid to all Holders of
the Notes that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or agreement. 
  
 (c) Section 5.1 of Article Five of the Indenture (as reproduced below) shall be eliminated in its entirety except for its heading and be replaced with the words
“INTENTIONALLY OMITTED”. 
  
 SECTION 5.1 MERGER,
CONSOLIDATION, OR SALE OF ASSETS. 
  
 Neither Issuer may
consolidate or merge with or into (whether or not such Issuer is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions,
to another corporation, Person or entity unless (i) the Company is the surviving corporation or the entity or the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer,
lease, conveyance or other disposition shall have been made is a corporation organized or existing under the laws of the United States, any state thereof or the District of Columbia; (ii) the entity or Person formed by or surviving any such
consolidation or merger (if other than such Issuer) or the entity or Person to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made assumes all the obligations of the Issuers under the Registration
Rights Agreement, the Notes and this Indenture pursuant to a supplemental indenture in a form satisfactory to the Trustee; (iii) immediately prior 

  

 19 

 
thereto and immediately after such transaction no Default or Event of Default exists; and (iv) except in the case of a merger of the Company with or into a
Restricted Subsidiary of the Company and except in the case of a merger entered into solely for the purpose of reincorporating the Company in another jurisdiction, the Company or the entity or Person formed by or surviving any such consolidation or
merger (if other than the Company), or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made will immediately after giving pro forma effect thereto as if such transaction had occurred at the beginning
of the applicable four-quarter period, (x) be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in the first paragraph of the covenant described in Section 4.9 hereof or (y) the
Fixed Charge Coverage Ratio for the Company or the entity or Person formed by or surviving any such consolidation or merger (if other than the Company) would be greater than such ratio for the Company or such surviving entity immediately prior to
such transaction. 
  
 Notwithstanding the foregoing, the Company
shall be permitted to reorganize as a corporation in accordance with the procedures established in this Indenture, provided that the Company shall have delivered to the Trustee an Opinion of Counsel in the United States reasonably acceptable to the
Trustee confirming that such reorganization is not adverse to Holders of the Notes (it being recognized that such reorganization shall not be deemed adverse to the Holders of the Notes solely because (i) of the accrual of deferred tax liabilities
resulting from such reorganization or (ii) the successor or surviving corporation (a) is subject to income tax as a corporate entity or (b) is considered to be an “includible corporation” of an affiliated group of corporations within the
meaning of the Code or any similar state or local law) and certain other conditions are satisfied. 
  
 The entity or the Person formed by or surviving any consolidation or merger (if other than the Company) will succeed to, and be substituted for, and may
exercise every right and power of, the Issuers under this Indenture, but, in the case of a lease of all or substantially all its assets, neither Issuer will be released from the obligation to pay the principal of and interest on the Notes.

  
 (d) Section 5.2(b)(iii) of Article Five of the Indenture (as reproduced below)
shall be eliminated in its entirety and be replaced with the words “INTENTIONALLY OMITTED”: 
  
 (b)(iii) if such merger or consolidation is with a Person other than the Company or a Restricted Subsidiary, (x) immediately after such transaction no
Default or Event of Default shall have occurred and be continuing any (y) the Company will, at the time of such transaction after giving pro forma effect thereto, be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed
Charge Coverage Ratio test set forth in the covenant described in Section 4.9 hereof. The Successor Guarantor will succeed to, and be substituted for, such Guarantor under this Indenture, the Registration Rights Agreement and such Guarantor’s
Guarantee. 
  
 (e) Each of the following sections of Article Eight of the
Indenture shall be eliminated in its entirety except for its heading and be replaced with the words “INTENTIONALLY OMITTED”: 
  

 20 

 SECTION 8.3 COVENANT DEFEASANCE 
  
 Upon the Issuers’ exercise under Section 8.1 hereof of the option applicable to this Section 8.3, the Issuers and each
Guarantor shall, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be released from its obligations under the covenants contained in Sections 4.7, 4.8, 4.9, 4.10, 4.11, 4.12, 4.13, 4.15, 4.16, 4.18, 4.19, and 5.1 hereof
with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.4 are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not “outstanding” for the purposes
of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being understood
that such Notes shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuers may omit to comply with and shall have no liability in respect of any
term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any
other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.1 hereof, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition, upon
the Company’s exercise under Section 8.1 hereof of the option applicable to this Section 8.3 hereof, subject to the satisfaction of the conditions set forth in Section 8. hereof, Sections 6.1(d) through 6.1(f) hereof shall not constitute Events
of Default. 
  
 (f) Subsection 2.6(i) of Article Two of the Indenture shall be
amended as follows (with deleted language marked as stricken and added language underlined): 
  
 (i) General Provisions Relating to Transfers and Exchanges. 
  
 (i) To permit registrations of transfers and exchanges, the Issuers shall execute and the Trustee shall authenticate Global Notes and
Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.2 hereof or upon receipt of a written request of the Registrar. 
  
 (ii) No service charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any
registration of transfer or exchange, but the Issuers may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge
payable upon exchange or transfer pursuant to Sections 2.10, 3.6, and 9.5 hereof). 
  
 (iii) The Registrar shall not be required to register the transfer of or exchange any Note selected for redemption in whole or in part,
except the unredeemed portion of any Note being redeemed in part. 
  

 21 

 (iv) All Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes shall be the valid obligations of the Issuers, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration
of transfer or exchange. 
  
 (v) The Issuers
shall not be required (A) to issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 3.2 hereof and ending at the
close of business on the day of selection, (B) to register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part or (c) to register the transfer or to
exchange a Note between a record date and the next succeeding interest payment date. 
  
 (g) Each of the following sections of Article Three of the Indenture shall be amended as follows (with deleted language marked as stricken and added language underlined): 
  
 SECTION 3.3 NOTICE OF REDEMPTION. 
  

At least 30 days but not more than 60 days before a redemption date, the Issuers shall mail or cause to be mailed, by first class mail, a notice of
redemption to each Holder whose Notes are to be redeemed at its registered address. 
  
 The notice shall identify the Notes to be redeemed and shall state: 
  
 (a) the redemption date; 
  
 (b) the redemption price; 
  
 (c) if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the redemption date upon
surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued upon cancellation of the original Note; 
  
 (d) the name and address of the Paying Agent; 
  
 (e) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price; 
  
 (f) that, unless the Issuers default in making such redemption payment,
interest on Notes called for redemption ceases to accrue on and after the redemption date; 
  
 (g) the paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are being redeemed; and 
  

 22 

 (h) that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed
in such notice or printed on the Notes. 
  
 At the Issuers’
request, the Trustee shall give the notice of redemption in the Issuers’ name and at their expense; provided, however, that the Issuers shall have delivered to the Trustee, at least 45 days prior to the redemption date, 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 preceding paragraph. 
  

(h) Each of the following sections of Article Six of the Indenture shall be amended as follows (with deleted language marked as stricken and added language
underlined): 
  
 SECTION 6.1 EVENTS OF DEFAULT. 
  
 An “Event of Default” occurs if: 
  
 (a) the Issuers default in the payment when due of interest on, or Liquidated
Damages, if any, with respect to, the Notes and such default continues for a period of 30 days, whether or not such payment is prohibited by the provisions of Article 10 hereof; 
  
 (b) the Issuers default in the payment when due of principal of or premium, if any, on the Notes, whether or not such
payment is prohibited by the provisions of Article 10 hereof; 
  
 (c) INTENTIONALLY OMITTED; 
  
 (d) INTENTIONALLY OMITTED;

  
 (e) INTENTIONALLY OMITTED; 
  
 (f) INTENTIONALLY OMITTED; 

  

 23 

 (g) INTENTIONALLY OMITTED; 
  
 (h) the Issuers or any of their Subsidiaries pursuant to or within the meaning of Bankruptcy Law: 
  
 (i) commence a voluntary case, 
  
 (ii) consent to the entry of an order for relief against
them in an involuntary case, 
  
 (iii) consent to
the appointment of a Custodian of them or for all or substantially all of their property, 
  
 (iv) make a general assignment for the benefit of their creditors, or 
  
 (v) generally are not paying their debts as they become due; or 
  
 (i) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
  
 (i) is for relief
against the Issuers or any of their Subsidiaries in an involuntary case; 
  
 (ii) appoints a Custodian of the Issuers or any of their Subsidiaries or for all or substantially all of the property of the Issuers or any of their Subsidiaries; or 
  
 (iii) orders the liquidation of the Issuers or any of their
Subsidiaries; and the order or decree remains unstayed and in effect for 60 consecutive days. 
  
 (j) INTENTIONALLY OMITTED. 
  
 SECTION 6.2 ACCELERATION. 
  
 If any Event of Default
(other than an Event of Default specified in clause (h) or (i) of Section 6.1 hereof with respect to the Issuers or any Subsidiaries) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding
Notes may 

  

 24 

 
declare all the Notes to be due and payable immediately; provided, that so long as Senior Debt or any commitment therefore is outstanding under the Senior
Credit Facility, any such notice shall not be effective until the earlier of (i) five Business Days after such notice is delivered to the representative for such Senior Debt or (ii) the acceleration of the Senior Debt under the Senior Credit
Facility. Notwithstanding the foregoing, if an Event of Default specified in clause (h) or (i) of Section 6.1 hereof occurs with respect to the Issuers, any Restricted Subsidiary of the Company that constitutes a Significant Subsidiary or any group
of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary, all outstanding Notes shall be due and payable without further action or notice. Holders of the Notes may not enforce this Indenture or the Notes except as
provided in this Indenture. Subject to certain limitations, Holders of a majority in principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Notes
notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate
principal amount of the then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Notes rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all
existing Events of Default (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived. 
  
 The Holders of a majority in aggregate principal amount of the Notes then outstanding by written notice to the Trustee may
on behalf of the Holders of all of the Notes waive any existing Default or Event or Default and its consequences under this Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, the Notes.

  
 The Company is required upon becoming aware of any Default or
Event of Default, to deliver to the Trustee a written statement specifying such Default or Event of Default. 
  
 (i) Each of the following sections of Article Seven of the Indenture shall be amended as follows (with deleted language marked as stricken and added language underlined): 
  
 SECTION 7.7 COMPENSATION AND INDEMNITY. 
  
 The Issuers and the Guarantors jointly and severally agree to pay to the
Trustee from time to time compensation as agreed upon by the Trustee and the Issuers, and, in the absence of any such agreement, reasonable compensation for its acceptance of this Indenture and services hereunder. The Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express trust. The Issuers and the Guarantors shall reimburse the Trustee promptly upon request for all disbursements, advances and expenses incurred or made by it in addition to the
compensation for its services. Such expenses shall include the compensation, disbursements and expenses of the Trustee’s agents and counsel . 
  

 25 

 The Issuers and the Guarantors shall indemnify the Trustee against any and all losses, liabilities or
expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Issuers and the Guarantors (including this
Section 7.7) and defending itself against any claim (whether asserted by the Issuers, the Guarantors or any Holder or any other person) or liability in connection with, relating to, or arising out of (i) the exercise or performance of any of its
powers or duties hereunder, or in connection herewith, and (ii) the validity, invalidity, adequacy or inadequacy of this Indenture, the Guarantees, the Notes, the Registration Rights Agreement and the Offering Memorandum, except to the extent any
such loss, liability or expense may be attributable to its negligence or bad faith. The Trustee shall notify the Issuers and the Guarantors promptly of any claim for which it intends to seek indemnity. Failure by the Trustee to so notify the Issuers
and the Guarantors shall not relieve the Issuers and the Guarantors of their obligations hereunder. The Issuers and the Guarantors shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the
Issuers and the Guarantors shall pay the fees and expenses of such counsel. The Issuers and the Guarantors need not pay for any settlement made without their consent, which consent shall not be unreasonably withheld. 
  
 The obligations of the Issuers and the Guarantors to the Trustee under this
Indenture shall survive the satisfaction and discharge of this Indenture and shall be secured by a Lien as provided in Section 6.9 hereof. 
  
 To secure the Issuers’ and the Guarantors’ payment obligations in this Section, the Trustee shall have a Lien prior to the Notes on all money or
property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien shall survive the satisfaction and discharge of this Indenture. 
  
 When the Trustee incurs expenses or renders services after an Event of
Default specified in Section 6.1(b) hereof occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law.

  
 The Trustee shall comply with the provisions of TIA
§313(b)(2) to the extent applicable. 
  
 (j) Each of the following sections
of Article Eight of the Indenture shall be amended as follows: 
  
 SECTION 8.1 OPTION TO EFFECT LEGAL DEFEASANCE 
  
 The
Issuers may, at their option and at any time, elect to have Section 8.2 hereof be applied to all outstanding Notes and the Guarantees upon compliance with the conditions set forth below in this Article 8. 
  

 26 

 SECTION 8.2 LEGAL DEFEASANCE AND DISCHARGE. 
  
 Upon the Issuers’ exercise under Section 8.1 hereof of the option applicable to this Section 8.2, the Issuers shall,
subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes and to have each Guarantor’s obligations discharged with respect to
its Guarantee on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuers shall be deemed to have paid and discharged the entire Indebtedness
represented by the outstanding Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.5 hereof and the other Sections of this Indenture referred to in (a) and (b) below, and to have satisfied all its
other obligations under such Notes and this Indenture (and the Trustee, on demand of and at the expense of the Issuers, shall execute proper instruments acknowledging the same), except for the following provisions which shall survive until otherwise
terminated or discharged hereunder: (a) the rights of Holders of outstanding Notes to receive solely from the trust fund described in Section 8.4 hereof, and as more fully set forth in such Section, payments in respect of the principal of, premium,
if any, and interest and Liquidated Damages, if any, on such Notes when such payments are due, (b) the Issuers’ obligations with respect to such Notes under Article Two hereof, (c) the rights, powers, trusts, duties and immunities of the
Trustee and any Agent hereunder and the Issuers’ and Guarantors’ obligations in connection therewith, including, without limitation, Article Seven and Section 8.5 and 8.7 hereunder, and (d) this Article 8 hereof. 
  
 SECTION 8.4 CONDITIONS TO LEGAL DEFEASANCE. 
  
 The following shall be the conditions to the application of Section 8.2
hereof to the outstanding Notes: 
  
 In order to exercise Legal
Defeasance: 
  
 (a) the Issuers must irrevocably deposit with the
Trustee, in trust, for the benefit of the Holders, cash in United States dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent
public accountants, to pay the principal of, premium, if any, and interest and Liquidated Damages, if any, on the outstanding Notes on the stated maturity or on the applicable redemption date, as the case may be, and the Issuers must specify whether
the Notes are being defeased to maturity or to a particular redemption date; 
  
 (b) in the case of an election under Section 8.2 hereof, the Issuers shall have delivered to the Trustee an Opinion of Counsel in the United States acceptable to the Trustee confirming that (A) the Issuers have
received from, or there has been published by, the Internal Revenue Service a ruling or (B) 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 shall confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal 

  

 27 

 
income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

 
 (c) INTENTIONALLY OMITTED; 
  
 (d) no Default or Event of Default shall have occurred and be continuing on
the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) or insofar as Sections 6.1(h) or 6.1(i) hereof are concerned, at any time in the period ending on the 91st day
after the date of deposit; 
  
 (e) such Legal Defeasance or shall
not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Issuers or any of their Subsidiaries is a party or by which the Issuers or any of their Restricted
Subsidiaries are bound; 
  
 (f) the Issuers shall have delivered
to the Trustee an Opinion of Counsel (subject to customary qualifications and assumptions) to the effect that on the 91st day following the deposit, the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency,
reorganization or similar laws affecting creditors’ rights generally; 
  
 (g) the Issuers shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by the Issuers with the intent of preferring the Holders of Notes over any other creditors of the
Issuers or with the intent of defeating, hindering, delaying or defrauding creditors of the Issuers or others; 
  
 (h) the Issuers shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent
provided for or relating to the Legal Defeasance have been complied with; and 
  
 (i) the Trustee shall have received such other documents, assurances and Opinion of Counsel as the Trustee shall have reasonably required. 
  
 SECTION 8.5 DEPOSITED MONEY AND GOVERNMENT SECURITIES TO BE HELD IN TRUST; OTHER MISCELLANEOUS PROVISIONS. 
  
 Subject to Section 8.6 hereof, all money and non-callable Government
Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.5, the “Trustee”) pursuant to Section 8.4 hereof in respect of the outstanding Notes shall be
held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including an Issuer acting as Paying Agent), to the Holders of such Notes of

  

 28 

 
all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except
to the extent required by law. 
  
 The Issuers and the Guarantors
jointly and severally agree to pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.4 hereof or the principal and interest
received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. 
  
 Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay to the Issuers from time to time upon the request of the
Issuers any money or non-callable Government Securities held by it as provided in Section 8.4 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee (which may be the opinion delivered under Section 8.4(a) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance. 
  
 (k) Each of the following sections of Article Nine of the Indenture shall be amended as the
follows (with deleted language marked as stricken and added language underlined): 
  
 SECTION 9.2 WITH CONSENT OF HOLDERS OF NOTES. 
  
 Except as provided below in this Section 9.2, the Issuers and the Trustee may amend or supplement this Indenture and the Notes and the Guarantees may be amended or supplemented with the consent of the Holders of at
least a majority in principal amount of the Notes then outstanding voting as a single class (including consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes), and, subject to Sections 6.4 and 6.7
hereof, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if any, Liquidated Damages, if any, or interest on the Notes, except a payment default resulting from an
acceleration that has been rescinded) or compliance with any provision of this Indenture, the Notes or the Guarantees may be waived with the consent of the Holders of a majority in principal amount of the then outstanding Notes voting as a single
class (including consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes). Section 2.8 hereof shall determine which Notes are considered to be “outstanding” for purposes of this Section 9.2.

  
 Upon the request of the Issuers accompanied by a resolution of
their respective Board of Managers or Board of Directors, as the case may be, authorizing the execution of any such amended or supplemental Indenture, and upon receipt by the Trustee of evidence satisfactory to the Trustee of the consent of the
Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.2 hereof, the Trustee shall join with the Issuers in the 

  

 29 

 
execution of such amended or supplemental Indenture unless such amended or supplemental Indenture directly 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 amended or supplemental Indenture. 
  
 It shall not be necessary for the consent of the Holders of Notes under this Section 9.2 to approve the particular form of
any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 
  
 After an amendment, supplement or waiver under this Section becomes effective, the Issuers shall mail to the Holders of Notes affected thereby a notice
briefly describing the amendment, supplement or waiver. Any failure of the Issuers to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amended or supplemental Indenture or waiver.
Subject to Sections 6.4 and 6.7 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding voting as a single class may waive compliance in a particular instance by the Issuers with any provision of this Indenture
or the Notes. However, without the consent of each Holder affected, an amendment or waiver under this Section 9.2 may not (with respect to any Notes held by a non-consenting Holder): 
  
 (a) reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; 
  
 (b) reduce the principal of or change the fixed maturity of any Note or alter
or waive any of the provisions with respect to the redemption of the Notes; 
  
 (c) reduce the rate of or change the time for payment of interest, including default interest, on any Note; 
  
 (d) waive a Default or Event of Default in the payment of principal of or premium, if any, or interest or Liquidated Damages, if any, on the Notes (except
a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes and a waiver of the payment default that resulted from such acceleration); 
  
 (e) make any Note payable in money other than that stated in the Notes;

  
 (f) make any change in the provisions of this Indenture
relating to waivers of past Defaults or the rights of Holders of Notes to receive payments of principal of or premium, if any, or interest or Liquidated Damages, if any, on the Notes; 
  
 (g) waive a redemption payment with respect to any Note; or 
  
 (h) make any change in the foregoing amendment and waiver provisions. 
  

 30 

 the manner provided in this Article 10, to the prior payment in full, in cash or Cash Equivalents, of all Senior Debt
(whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed), and that the subordination is for the benefit of the holders of Senior Debt. 
  
 (l) Section 1.1 shall be amended to eliminate in their entirety the following defined terms: 
  
 SECTION 1.1 DEFINITIONS. 
  
 “Acquired Debt” means, with respect to any specified Person, (i)
Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Subsidiary of such specified Person, including, without limitation, Indebtedness incurred in connection with, or in contemplation of, such
other Person merging with or into or becoming a Subsidiary of such specified Person, and (ii) Indebtedness secured by a Lien encumbering any assets acquired by such specified Person. 
  
 “Additional Assets” means (i) any property or assets (other than Indebtedness and Capital Stock) to be used by the
Company or a Restricted Subsidiary in a Permitted Business; (ii) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company or a Restricted Subsidiary of the Company; or
(iii) Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary of the Company; provided, however, that, in the case of clauses (ii) and (iii), such Restricted Subsidiary is primarily engaged in a
Permitted Business. 
  
 “Borrowing Base” means, with
respect to any Person, the sum of (x) up to 90% of the net book value of the non-affiliated accounts receivable of such Person in accordance with GAAP and (y) up to 60% of the net book value of the inventory of such Person in accordance with GAAP.

  
 “Capital Lease Obligation” means, at the time any
determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP. 
  
 “Consolidated Cash Flow” means, with respect to any Person for any
period, the Consolidated Net Income of such Person for such period plus (i) an amount equal to any extraordinary loss plus any net loss realized in connection with an Asset Sale (to the extent such losses were deducted in computing such Consolidated
Net Income), plus (ii) provision for taxes, including foreign withholding taxes to the extent paid, based on income or profits of such Person and its Restricted Subsidiaries for such period, to the extent that such provision for taxes was included
in computing such Consolidated Net Income, plus (iii) consolidated interest expense of such Person and its Restricted Subsidiaries for such period, whether paid or accrued and whether or not capitalized (including, without limitation, amortization
of original issue discount, non-cash interest payments, the interest component of any deferred payment obligations, the interest component of all payments associated with Capital Lease Obligations, commissions, discounts and other fees and charges
incurred in respect of letter of credit or bankers’ acceptance 

  

 31 

 
financings, and net payments (if any) pursuant to Hedging Obligations), to the extent that any such expense was deducted in computing such Consolidated Net
Income, plus (iv) depreciation, amortization (including amortization of goodwill and other intangibles but excluding amortization of prepaid cash expenses that were paid in a prior period) and other non-cash expenses (excluding any such non-cash
expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or amortization of a prepaid cash expense that was paid in a prior period) of such Person and its Restricted Subsidiaries for such period to the
extent that such depreciation, amortization and other non-cash expenses were deducted in computing such Consolidated Net Income, plus (v) one time non-cash legal, accounting and debt issuance charges resulting from the Transactions, minus (vi)
non-cash items increasing such Consolidated Net Income for such period, in each case, on a consolidated basis and determined in accordance with GAAP. Consolidated Cash Flow shall exclude the amortization of debt issuance costs. 
  
 “Consolidated Net Income” means, with respect to any Person for any
period, the aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that (i) the Net Income (but not loss) of any Person that is not a
Restricted Subsidiary or that is accounted for by the equity method of accounting shall be included only to the extent of the amount of dividends or distributions paid in cash to the referent Person or a Wholly Owned Restricted Subsidiary thereof,
(ii) the Net Income of any Restricted Subsidiary shall be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that Net Income is not at the date of determination permitted
without any prior governmental approval (that has not been obtained) or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to
that Restricted Subsidiary or its stockholders, (iii) the Net Income of any Person acquired in a pooling of interests transaction for any period prior to the date of such acquisition shall be excluded, (iv) the cumulative effect of a change in
accounting principles shall be excluded, (v) any one time non-cash charges relating to the Transition Plan in an amount not to exceed $5.0 million shall be excluded, and (vi) the Net Income (but not loss) of any Unrestricted Subsidiary shall be
excluded, whether or not distributed to the Company or one of its Subsidiaries. 
  
 “Fixed Charge Coverage Ratio” means with respect to any Person for any period, the ratio of the Consolidated Cash Flow of such Person and its Restricted Subsidiaries for such period to the Fixed Charges of
such Person and its Restricted Subsidiaries for such period. In the event that the referent Person or any of its Restricted Subsidiaries incurs, assumes, guarantees or redeems any Indebtedness (other than revolving credit borrowings) or issues or
redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the
“Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee or redemption of Indebtedness, or such issuance or redemption of preferred stock, as if the
same had occurred at the beginning of the applicable four-quarter reference period. In addition, for purposes of making the computation referred to above, Consolidated Cash Flow and Fixed Charges shall be calculated after giving effect on a pro
forma basis for the period of such calculation to (i) acquisitions that have been made by the Company 

  

 32 

 
or any of its Restricted Subsidiaries, including through mergers or consolidations and including any related financing transactions, during the four-quarter
reference period or subsequent to such reference period and on or prior to the Calculation Date as if such transaction had occurred on the first day of the four-quarter reference period and Consolidated Cash Flow for such reference period shall be
calculated without giving effect to clause (iii) of the proviso set forth in the definition of Consolidated Net Income, and (ii) the Consolidated Cash Flow attributable to discontinued operations, as determined in accordance with GAAP, and
operations or businesses disposed of prior to the Calculation Date, shall be excluded, and (iii) the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP and operations or businesses disposed of prior to the
Calculation Date, shall be excluded, but only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the referent Person or any of its Restricted Subsidiaries following the Calculation Date. For purposes of
this definition, whenever pro forma effect is to be given to a transaction, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company consistent with Article 11 of Regulation S-X,
promulgated pursuant to the Securities Act, as such Regulation is in effect on the date of this Indenture. 
  
 “Fixed Charges” means, with respect to any Person for any period, the sum, without duplication, of (i) the consolidated interest expense of such
Person and its Restricted Subsidiaries for such period, whether paid or accrued (including without limitation, amortization of original issue discount, non-cash interest payments, the interest component of any deferred payment obligations, the
interest component of all payments associated with Capital Lease Obligations, commissions, discounts and other fees and charges incurred in respect of letter of credit or bankers’ acceptance financings, and net payments (if any) pursuant to
Hedging Obligations) and (ii) the consolidated interest of such Person and its Restricted Subsidiaries that was capitalized during such period and (iii) any interest expense on Indebtedness of another Person that is guaranteed by such Person or one
of its Restricted Subsidiaries or secured by a Lien on assets of such Person or one of its Restricted Subsidiaries (whether or not such guarantee or Lien is called upon) and (iv) all dividend payments, whether or not in cash, on any series of
Preferred Stock of such Person or any of its Restricted Subsidiaries, other than dividend payments on Equity Interests payable solely in Equity Interests of the Company (other than Disqualified Stock) or to the Company or a Restricted Subsidiary of
the Company. Fixed Charges shall exclude the amortization of debt issuance costs. 
  
 “Investments” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the forms of direct or indirect loans (including guarantees of Indebtedness or other
Obligations), advances or capital contributions (excluding commission, travel and similar advances to officers and employees made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity
Interests or other securities, together with all items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any
Equity Interests of any direct or indirect Subsidiary of the Company such that, after giving effect to any such sale or disposition, such Person is no longer a Restricted Subsidiary of the Company, the Company shall be deemed to have made an
Investment on the date of any such sale or disposition equal to the fair market value of the Equity 

  

 33 

 
Interests of such Subsidiary not sold or disposed of in an amount determined as provided in third to last paragraph of Section 4.7 hereof. 
  
 “Net Income” means, with respect to any Person, the net income
(loss) of such Person, determined in accordance with GAAP and before any reduction in respect of preferred stock dividends, excluding, however, (i) any gain (but not loss), together with any related provision for taxes on such gain (but not loss),
realized in connection with (a) any Asset Sale (including, without limitation, dispositions pursuant to sale and leaseback transactions) or (b) the disposition of any securities by such Person or any of its Restricted Subsidiaries or the
extinguishment of any Indebtedness of such Person or any of its Restricted Subsidiaries and (ii) any extraordinary or nonrecurring gain (but not loss), together with any related provision for taxes on such extraordinary or nonrecurring gain (but not
loss). 
  
 “Non-Recourse Debt” means Indebtedness (i) as
to which neither the Company nor any of its Restricted Subsidiaries (a) provides credit support of any kind (including any undertaking, agreement or instrument that would constitute Indebtedness), (b) is directly or indirectly liable (as a guarantor
or otherwise), or (c) constitutes the lender; and (ii) no default with respect to which (including any rights that the holders thereof may have to take enforcement action against an Unrestricted Subsidiary) would permit (upon notice, lapse of time
or both) any holder of any other Indebtedness (other than the Notes being offered hereby) of the Company or any of its Restricted Subsidiaries to declare a default on such other Indebtedness or cause the payment thereof to be accelerated or payable
prior to its stated maturity; and (iii) as to which the lenders have been notified in writing that they will not have any recourse to the stock or assets of the Company or any of its Restricted Subsidiaries. 
  
 “Permitted Investments” means (i) any Investment in the Company or
in a Wholly Owned Restricted Subsidiary of the Company that is a Note Guarantor (whether existing on the date of this Indenture or created thereafter); (ii) any Investment in Cash Equivalents; (iii) any Investment by the Company or any Restricted
Subsidiary of the Company in a Person, if as a result of such Investment (x) such Person becomes a Wholly Owned Restricted Subsidiary of the Company or (y) such Person is merged, consolidated or amalgamated with or into, or transfers or conveys
substantially all of its assets to, or is liquidated into, the Company or a Wholly Owned Restricted Subsidiary and Note Guarantor of the Company; (iv) any Investment made as a result of the receipt of non-cash consideration from an Asset Sale that
was made pursuant to and in compliance with the provisions of Section 4.10 hereof; (v) any acquisition of assets solely in exchange for the issuance of Equity Interests (other than Disqualified Stock) of the Company; (vi) Hedging Obligations
permitted by Section 4.9 hereof; (vii) any Investment by the Company or a Subsidiary of the Company in a Securitization Entity or any Investment by a Securitization Entity in any other Person in connection with a Qualified Securitization
Transaction; provided that any Investment in a Securitization Entity is in the form of a Purchase Money Note or an equity interest and (viii) other Investments in any Person having an aggregate fair market value (measured on the date each such
Investment was made and without giving effect to subsequent changes in value), when taken together with all other Investments made pursuant to this clause (viii) that are at the time outstanding, not to exceed the greater of (x) $7.5 million and (y)
7.5% of Total Assets. 
  

 34 

 “Permitted Liens” means (i) Liens securing Senior Debt (including the Senior Credit
Facilities); (ii) Liens in favor of the Company and any Restricted Subsidiary; (iii) Liens on property of a Person existing at the time such Person is merged into or consolidated with the Company or any Restricted Subsidiary of the Company; provided
that such Liens were in existence prior to the contemplation of such merger or consolidation and do not extend to any assets other than those of the Person merged into or consolidated with the Company; (iv) Liens on property existing at the time of
acquisition thereof by the Company or any Subsidiary of the Company, provided that such Liens were in existence prior to the contemplation of such acquisition; (v) Liens incurred or deposits made in the ordinary course of business in connection with
workers’ compensation, unemployment insurance or other kinds of social security, or to secure the performance of statutory obligations, surety or appeal bonds, performance bonds or other obligations of a like nature incurred in the ordinary
course of business; (vi) purchase money Liens to finance property or assets of the Company or any Restricted Subsidiary of the Company acquired in the ordinary course of business; provided, however, that (A) the related purchase money Indebtedness
shall not exceed the cost of such property or assets and shall not be secured by any property or assets of the Company or any Restricted Subsidiary of the Company other than the property and assets so acquired and (B) the Lien securing such
Indebtedness shall be created within 90 days of such acquisition; (vii) Liens existing on the date of this Indenture; (viii) Liens for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being contested in
good faith by appropriate proceedings promptly instituted and diligently concluded, provided that any reserve or other appropriate provision as shall be required in conformity with GAAP shall have been made therefor; (ix) statutory liens of
landlords, mechanics, suppliers, vendors, warehousemen, carriers or other like Liens arising in the ordinary course of business; (x) judgment Liens not giving rise to an Event of Default so long as any appropriate legal proceeding that may have been
duly initiated for the review of such judgment shall not have been finally terminated or the period within which such proceeding may be initiated shall not have expired; (xi) easements, rights- of-way, zoning and similar restrictions and other
similar encumbrances or title defects incurred or imposed, as applicable, in the ordinary course of business and consistent with industry practices which, in the aggregate, are not substantial in amount, and which do not in any case materially
detract from the value of the property subject thereto (as such property is used by the Company or its Subsidiaries) or interfere with the ordinary conduct of the business of the Company or such Subsidiaries; provided, however, that any such Liens
are not incurred in connection with any borrowing of money or any commitment to loan any money or to extend any credit; (xii) Liens on assets transferred to a Securitization Entity or on assets of a Securitization Entity, in either case incurred in
connection with a Qualified Securitization Transaction; (xiii) Liens incurred in the ordinary course of business of the Company or any Restricted Subsidiary of the Company with respect to obligations that do not exceed $5.0 million at any one time
outstanding and that (a) are not incurred in connection with the borrowing of money or the obtaining of advances or credit (other than trade credit in the ordinary course of business) and (b) do not in the aggregate materially detract from the value
of the property or materially impair the use thereof in the operation of business by the Company or such Subsidiary; (xiv) Liens on assets of Guarantors to secure Senior Debt of such Guarantors that were permitted by this Indenture to be incurred;
(xv) Liens on assets of Unrestricted Subsidiaries that secure Non-Recourse Debt of Unrestricted Subsidiaries; (xvi) any interest or title of a lessor under any Capital Lease Obligation; (xvii) Liens upon specific items of inventory or other goods
and proceeds of any Person securing such 

  

 35 

 
Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or
storage of such inventory or other goods; (xviii) Liens securing reimbursement obligations with respect to commercial letters of credit which encumber documents and other property relating to such letters of credit and products and proceeds thereof;
(xix) Liens encumbering deposits made to secure obligations arising from statutory, regulatory, contractual or warranty requirements of the Company or any of its Restricted Subsidiaries, including rights of offset and set-off; (xx) Liens securing
Hedging Obligations which Hedging Obligations relate to Indebtedness that is otherwise permitted under this Indenture; (xxi) leases or subleases granted to others that do not materially interfere with the ordinary course of business of the Company
and its Restricted Subsidiaries; (xxii) Liens arising from filing Uniform Commercial Code financing statements regarding leases; (xxiii) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customer
duties in connection with the importation of goods; (xxiv) Liens securing Indebtedness under Currency Agreements; (xxv) Liens securing Indebtedness of Restricted Subsidiaries that are Foreign Subsidiaries incurred in reliance on clause (iii) of the
second paragraph of Section 4.9 hereof; and (xxvi) Liens in favor of the Trustee and any predecessor of the Trustee. 
  
 “Permitted Refinancing Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries or any Disqualified Stock of
the Company issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness);
provided that: (i) the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount of (or accreted value, if applicable), plus accrued interest on, the Indebtedness so extended,
refinanced, renewed, replaced, defeased or refunded (plus the amount of reasonable expenses incurred in connection therewith); (ii) such Permitted Refinancing Indebtedness has a final maturity date no earlier than the final maturity date of, and has
a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; (iii) if the Indebtedness being extended, refinanced,
renewed, replaced, defeased or refunded is subordinated in right of payment to the Notes, such Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date of, and is subordinated in right of payment to, the Notes
on terms at least as favorable to the Holders of Notes as those contained in the documentation governing the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded or is Disqualified Stock; and (iv) such Indebtedness is
incurred either by the Company or by the Restricted Subsidiary who is the obligor on the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded or is Disqualified Stock. 
  
 “Restricted Investment” means an Investment other than a Permitted
Investment. 
  
 “Weighted Average Life to Maturity”
means, when applied to any Indebtedness at any date, the number of years obtained by dividing (i) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required
payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelth) that will elapse between such date 

  

 36 

 
and the making of such payment, by (ii) the then outstanding principal amount of such Indebtedness. 
  
 (m) Each of the following definitions and cross-references in Article One and Article Ten
shall be amended as follows (with deleted language marked as stricken and added language underlined): 
  
 SECTION 1.1 DEFINITIONS. 
  
 “Additional Notes” means up to $90.0 million in aggregate principal amount of Notes (other than the Initial Notes) issued under this Indenture
in accordance with Sections 2.2 hereof. 
  
 “Asset Sale”
means (i) the sale, lease, conveyance or other disposition of any assets or rights (including, without limitation, by way of a sale and leaseback) other than sales of inventory in the ordinary course of business consistent with past practice , and
(ii) the issue of Equity Interests of any of the Company’s Subsidiaries, in the case of either clause (i) or (ii), whether in a single transaction or a series of related transactions (a) that have a fair market value in excess of $1.0 million
or (b) for Net Proceeds in excess of $1.0 million. Notwithstanding the foregoing, the following items shall not be deemed to be Asset Sales: (i) a transfer of assets by the Company to a Restricted Subsidiary or by a Restricted Subsidiary to the
Company or to another Restricted Subsidiary, (ii) an issuance of Equity Interests by a Restricted Subsidiary to the Company or to another Restricted Subsidiary, (iii) INTENTIONALLY OMITTED, (iv) the sale or discount, in each case without recourse,
of accounts receivable arising in the ordinary course of business, but only in connection with the compromise or collection thereof, (v) the factoring of accounts receivable arising in the ordinary course of business pursuant to arrangements
customary in the industry, (vi) the licensing of intellectual property, (vii) disposals or replacements of obsolete, uneconomical, negligible, worn out or surplus property in the ordinary course of business, (viii) sales of equipment loans on a
non-recourse basis to a third party in an amount at least equal to 75% of the fair market value thereof, and (ix) sales of receivables, equipment loans and related assets (including contract rights) of the type specified in the definition of
“Qualified Securitization Transaction” to a Securitization Entity for the fair market value thereof, including consideration in the amount specified in the proviso to the definition of “Qualified Securitization Transaction.”

  
 “Disqualified Stock” means any Capital Stock that,
by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund
obligation or otherwise, or redeemable at the option of the Holder thereof, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature; provided, however, that any Capital Stock that would constitute
Disqualified Stock solely 

  

 37 

 
because the holders thereof have the right to require the Issuers to repurchase such Capital Stock upon the occurrence of a Change of Control or an Asset
Sale shall not constitute Disqualified Stock if the terms of such Capital Stock provide that the Issuers may not repurchase or redeem any such Capital Stock pursuant to such provisions. 
  
 “Unrestricted Subsidiary” means each of the SPE, Alliance Commercial Appliances Receivables LLC, Alliance
Commercial Appliances Finance LLC and Alliance Laundry S.A. In addition, “Unrestricted Subsidiary” means (i) any Subsidiary that is designated by the Board of Managers as an Unrestricted Subsidiary pursuant to a Board Resolution; but only
to the extent that such Subsidiary: (a) has no Indebtedness other than Non-Recourse Debt; (b) is not party to any agreement, contract, arrangement or understanding with the Company or any Restricted Subsidiary of the Company unless the terms of any
such agreement, contract, arrangement or understanding are no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the Company; (c) is a Person with respect
to which neither the Company nor any of its Restricted Subsidiaries has any direct or indirect obligation (x) to subscribe for additional Equity Interests or (y) to maintain or preserve such Person’s financial condition or to cause such Person
to achieve any specified levels of operating results; (d) has not guaranteed or otherwise directly or indirectly provided credit support for any Indebtedness of the Company or any of its Restricted Subsidiaries; and (e) has at least one director on
its board of directors that is not a director or executive officer of the Company or any of its Restricted Subsidiaries and has at least one executive officer that is not a director or executive officer of the Company or any of its Restricted
Subsidiaries. Any such designation by the Board of Managers shall be evidenced to the Trustee by filing with the Trustee a certified copy of the Board Resolution giving effect to such designation and an Officers’ Certificate certifying that
such designation complied with the foregoing conditions hereof. If, at any time, any Unrestricted Subsidiary would fail to meet the foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for
purposes of this Indenture and any Indebtedness of such Subsidiary shall be deemed to be incurred by a Restricted Subsidiary of the Company as of such date. 
  

 38 

 SECTION 1.2 OTHER DEFINITIONS. 
  

			
	 Term

	  	Defined in
Section

	 “Authentication Order”
	  	2.2
	 “Designated Senior Debt”
	  	10.2
	 “DTC”
	  	2.3
	 “Event of Default”
	  	6.1
	 “Funding Guarantor”
	  	11.4
	 “Legal Defeasance”
	  	8.2
	 “Paying Agent”
	  	2.3
	 “Payment Blockage Notice”
	  	10.4
	 “Payment Default”
	  	6.1
	 “Permitted Junior Securities”
	  	10.2
	 “Redemption Date”
	  	3.7
	 “Registrar”
	  	2.3
	 “Representative”
	  	10.2
	 “Senior Debt”
	  	10.2

  
 SECTION 10.2 CERTAIN
DEFINITIONS. 
  
 “Senior Debt” means (i) all
Indebtedness outstanding under Senior Credit Facilities and all Hedging Obligations with respect thereto, (ii) any other Indebtedness permitted to be incurred by the Company under the terms of this Indenture, unless the instrument under which such
Indebtedness is incurred expressly provides that it is on a parity with or subordinated in right of payment to the Notes and the Note Guarantees and (iii) all Obligations of the Company and any Note Guarantor with respect to the foregoing.
Notwithstanding anything to the contrary in the foregoing, Senior Debt will not include (w) any liability for federal, state, local or other taxes owed or owing by the Issuers, (x) any Indebtedness of the Company or any Guarantor to any of their
Subsidiaries or other Affiliates (other than Indebtedness of the Company or any Note Guarantor to Sankaty Partners representing Sankaty Partners’ participation in any one or more of 

  

 39 

 
the Senior Credit Facilities where Sankaty Partners is one of the institutional lenders to such Senior Credit Facilities), (y) any trade payables or (z)
INTENTIONALLY OMITTED; provided that Indebtedness under Senior Credit Facilities will be Senior Debt if the holders of such Senior Debt shall have received a written certificate from an officer of the Company to the effect that the incurrence
of such Indebtedness does not (or in the case of up $75.0 million of revolving credit Indebtedness available to be borrowed under the Senior Credit Facility after the date of the initial borrowing thereunder, that the incurrence of such entire
committed amount would not) violate this Indenture. 
  
 ARTICLE
THREE 
  
 Section 3.1 Waiver. 
  
 Each Holder hereby irrevocably waives Section 4.15 of the Indenture in its
entirety with respect to the consummation of the Acquisition (as defined in the Offer to Purchase) and the transactions contemplated thereby. 
  
 Section 3.2 Operation of Supplemental Indenture. 
  
 This Supplemental Indenture will become operative upon the purchase by the Issuers, by accepting for payment, all Notes that are validly tendered (and not
withdrawn) pursuant to the Issuers’ offer to purchase Notes on the terms and conditions set forth in the Offer to Purchase. 
  
 Section 3.3 Concerning the Trustee. 
  
 The Trustee accepts the trusts of the Indenture, as supplemented by this Supplemental Indenture, and agrees to perform the same, but only upon the terms
and conditions set forth in the Indenture, as supplemented by this Supplemental Indenture, to which the parties hereto and the Holders from time to time of the Notes agree and, except as expressly set forth in the Indenture, shall incur no liability
or responsibility in respect thereof. Without limiting the generality of the foregoing, the Trustee assumes no responsibility for the correctness of the recitals herein contained, which shall be taken as the statements of the Company. The Trustee
makes no representation and shall have no responsibility as to the validity or sufficiency of this Supplemental Indenture. 
  
 Section 3.4 Miscellaneous. 
  
 (a) Except as hereby expressly amended, the Indenture is in all respects ratified and confirmed and all the terms, provisions and conditions thereof shall be and remain
in full force and effect. 
  
 (b) All agreements of the Issuers in this
Supplemental Indenture shall bind the Issuers’ successors. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. 
  

 40 

 (c) THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED WITH THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO CONTRACTS MADE AND
PERFORMED WITHIN THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. 
  
 (d) If and to the extent that any provision of this Supplemental Indenture limits, qualifies or conflicts with another provision that is required to be included in this Supplemental Indenture or in the indenture by
the TIA, the required provision shall control. 
  
 (e) The titles and headings of
the sections of this Supplemental 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. 
  
 (f) This Supplemental Indenture may be executed in any number of counterparts, each of which
shall be deemed an original, but all of which together shall represent one and the same agreement. 
  
 (g) In case any provision of this Supplemental Indenture shall be determined to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof or of the Indenture
shall not in any way be affected or impaired thereby. 
  

 41 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of
the date first above written. 
  

			
	 ALLIANCE LAUNDRY SYSTEMS LLC

		
	By:	 	/S/    THOMAS F. L’ESPERANCE
	 	 	 Name: Thomas F. L’Esperance

	 	 	 Title:

	
	 ALLIANCE LAUNDRY CORPORATION

		
	By:	 	/S/    THOMAS F. L’ESPERANCE
	 	 	 Name: Thomas F. L’Esperance

	 	 	 Title:

	
	 ALLIANCE LAUNDRY HOLDINGS LLC
 as Guarantor

		
	By:	 	/S/    THOMAS F. L’ESPERANCE
	 	 	 Name: Thomas F. L’Esperance

	 	 	 Title:

	
	 THE BANK OF NEW YORK

		
	By:	 	/S/    ROBERT A. MASSIMILLO 
	 	 	 Name: Robert A. Massimillo 

	 	 	 Title: Vice President

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