Document:

GUARANTEE AND COLLATERAL AGREEMENT

 Exhibit 10.55 
  

 GUARANTEE AND COLLATERAL AGREEMENT 
 made by 
 SBA COMMUNICATIONS CORPORATION, 
 SBA TELECOMMUNICATIONS, INC., 
 SBA SENIOR
FINANCE, INC. 
 and certain of its Subsidiaries 
 in favor of 
 DEUTSCHE BANK AG NEW YORK BRANCH, 
 as Administrative Agent 
 Dated as of April 27, 2006 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 Section 1.
	  	DEFINED TERMS	  	1
	 1.1
	  	Definitions	  	1
	 1.2
	  	Other Definitional Provisions	  	5
			
	 Section 2.
	  	GUARANTEE	  	5
	 2.1
	  	Guarantee	  	5
	 2.2
	  	Right of Contribution	  	7
	 2.3
	  	Subrogation	  	7
	 2.4
	  	Amendments, etc. with respect to the Borrower Obligations	  	7
	 2.5
	  	Guarantee Absolute and Unconditional	  	8
	 2.6
	  	Reinstatement	  	9
	 2.7
	  	Payments	  	10
			
	 Section 3.
	  	GRANT OF SECURITY INTEREST	  	10
	 3.1
	  	Grantor Security Interest	  	10
			
	 Section 4.
	  	REPRESENTATIONS AND WARRANTIES	  	11
	 4.1
	  	Representations in Credit Agreement; the Parent’s and Holdings’ Representations	  	11
	 4.2
	  	Title; 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	  	13
	 4.8
	  	Receivables	  	14
	 4.9
	  	Intellectual Property	  	14
			
	 Section 5.
	  	COVENANTS	  	14
	 5.1
	  	Covenants in Credit Agreement	  	14
	 5.2
	  	Delivery of Instruments and Chattel Paper	  	14
	 5.3
	  	Maintenance of Insurance	  	15
	 5.4
	  	Payment of Obligations	  	15
	 5.5
	  	Maintenance of Perfected Security Interest; Further Documentation	  	15
	 5.6
	  	Changes in Locations, Name, etc.	  	16
	 5.7
	  	Notices	  	16
	 5.8
	  	Investment Property	  	16
	 5.9
	  	Receivables	  	17
	 5.10
	  	Intellectual Property	  	18
	 5.11
	  	Deposit Account Control Agreement	  	19
			
	 Section 6.
	  	REMEDIAL PROVISIONS	  	20
	 6.1
	  	Certain Matters Relating to Receivables	  	20
	 6.2
	  	Communications with Obligors; Grantors Remain Liable	  	20
	 6.3
	  	Pledged Stock	  	21
	 6.4
	  	Proceeds to be Turned Over To Administrative Agent	  	22
	 6.5
	  	Application of Proceeds	  	22
	 6.6
	  	Code and Other Remedies	  	22
	 6.7
	  	Registration Rights	  	23
	 6.8
	  	Waiver; Deficiency	  	24

  

 -i- 

					
	 	  	 	  	Page
	 Section 7.
	  	THE ADMINISTRATIVE AGENT	  	24
	 7.1
	  	Administrative Agent’s Appointment as Attorney-in-Fact, etc.	  	24
	 7.2
	  	Duty of Administrative Agent	  	25
	 7.3
	  	Execution of Financing Statements	  	26
	 7.4
	  	Authority of Administrative Agent	  	26
			
	 Section 8.
	  	MISCELLANEOUS	  	26
	 8.1
	  	Amendments in Writing	  	26
	 8.2
	  	Notices	  	26
	 8.3
	  	No Waiver by Course of Conduct; Cumulative Remedies	  	26
	 8.4
	  	Enforcement Expenses; Indemnification	  	27
	 8.5
	  	Successors and Assigns	  	27
	 8.6
	  	Set-Off	  	27
	 8.7
	  	Counterparts	  	28
	 8.8
	  	Severability	  	28
	 8.9
	  	Section Headings	  	28
	 8.10
	  	Integration	  	28
	 8.11
	  	GOVERNING LAW	  	28
	 8.12
	  	Submission To Jurisdiction; Waivers	  	28
	 8.13
	  	Acknowledgments	  	29
	 8.14
	  	Additional Grantors	  	29
	 8.15
	  	Releases	  	29
	 8.16
	  	WAIVER OF JURY TRIAL	  	30

  

 -ii- 

 SCHEDULES 
  

			
	 Schedule 1
	  	Notice Addresses of Guarantors
	 Schedule 2
	  	Description of Pledged Securities
	 Schedule 3
	  	Filings and Other Actions Required to Perfect Security Interests
	 Schedule 4
	  	Location of Jurisdiction of Organization and Chief Executive Office
	 Schedule 5
	  	Location of Inventory and Equipment (including Exhibit A Office Leases Addresses)
	 Schedule 6
	  	Intellectual Property

 ANNEXES 
  

			
	 I
	  	Form of Assumption Agreement
	 II
	  	Form of Acknowledgment and Consent

  

 -iii- 

 GUARANTEE AND COLLATERAL AGREEMENT 
 GUARANTEE AND COLLATERAL AGREEMENT, dated as of April 27, 2006, made by SBA COMMUNICATIONS CORPORATION (the “Parent”), SBA
TELECOMMUNICATIONS, INC. (“Holdings”), SBA SENIOR FINANCE, INC. (the “Borrower”) and the other GRANTORS (as defined below), in favor of DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent (in such capacity,
the “Administrative Agent”) for the banks and other financial institutions (the “Lenders”) from time to time parties to the Credit Agreement, dated as of April 27, 2006 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among the Borrower, the Lenders and the Administrative Agent. 
 WITNESSETH: 
 WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to severally make 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 the Parent, Holdings, and 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 the Parent, Holdings and 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 Swap Agreements with one or more of the Grantors; 
 WHEREAS, the Borrower, the Parent, Holdings and the other Grantors are engaged in related businesses, and the Parent, Holdings and each other Grantor
will derive substantial direct and indirect benefit from the entering into of the Credit Agreement and the making of the extensions of credit under the Credit Agreement and from the Specified Swap Agreements; and 
 WHEREAS, it is a condition precedent to the obligation of the Lenders to enter into the Credit Agreement and to make their respective extensions of
credit to the Borrower under the Credit Agreement that the Parent, Holdings and the other Grantors shall have executed and delivered this Agreement to the Administrative Agent for the ratable benefit of the Secured Parties; 
 NOW, THEREFORE, in consideration of the premises and to induce the Administrative Agent and the Lenders to enter into the Credit Agreement and to induce
the Lenders to make their respective extensions of credit to the Borrower thereunder, the Parent, Holdings and each other Grantor hereby agrees with the Administrative Agent, for the ratable 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: Accounts, Certificated Security, Chattel Paper, Commercial Tort Claims, Documents, Equipment, Farm Products, General Intangibles, Goods, 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 Bridge
Loans 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 Bridge Loans 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, or the other Loan Documents, 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 Swap 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 Swap 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 Swap 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 Swap Agreement). 
 “Borrower Obligations”: the collective reference to (i) the Borrower Credit Agreement
Obligations, (ii) the Borrower Swap Agreement Obligations, but only to the extent that, and only so long as, the Borrower Credit Agreement Obligations are secured 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 3.1. 
 “Collateral Account”: any collateral account established by the Administrative Agent as provided in Section 6.1 or 6.4. 
 “Copyrights”: (i) 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. 
  

 2 

 “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. 
 “Deposit Account
Control Agreement”: the Deposit Account Control Agreement, dated as of December 21, 2005, by and among Wachovia Bank, National Association, the Borrower and General Electric Capital Corporation, as amended by the First Amendment
thereto, dated as of April 27, 2006. 
 “Excluded Assets”: the collective reference to (i) any contract, General
Intangible, Copyright License, Patent License or Trademark License (“Intangible Assets”), 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 Intangible Asset (A) is prohibited by legally enforceable provisions of any contract, agreement, instrument or indenture governing such Intangible Asset, (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; provided, that in any event any Receivable or any money or other amounts due or to become due under any such contract, agreement, instrument or indenture shall not be Excluded Assets to the extent that any of the
foregoing is (or if it contained a provision limiting the transferability or pledge thereof would be) subject to Section 9-406 of the New York UCC, (ii) Foreign Subsidiary Voting Stock excluded from the definition of “Pledged
Stock” set forth in this Section 1.1 and the Capital Stock of any Excluded Domestic Subsidiary, and (iii) the Towers and Tower sites owned by any Grantor to the extent a mortgage or fixture filing would be required to perfect a
security interest therein, together with any products and proceeds of any of the foregoing. 
 “Foreign Subsidiary”: any
Subsidiary organized under the laws of any jurisdiction outside the United States of America (it being understood that SBA Brazil will not be deemed to be a Foreign Subsidiary). 
 “Foreign Subsidiary Voting Stock”: the voting Capital Stock of any Foreign Subsidiary. 
 “Grantor”: each of the signatories hereto (together with any other entity that may become a party hereto as provided herein).

 “Guarantor Swap 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 Swap 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 Swap 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 Swap
Agreement). 
  

 3 

 “Guarantor Obligations”: with respect to any Guarantor, the collective reference to
(i) any Guarantor Swap 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 any Secured Party 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 the Borrower 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 (other than any Foreign Subsidiary Voting Stock excluded from the definition of “Pledged Stock” in this Section 1.1) 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. 
 “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) all letters patent of the United States, any other country
or any political subdivision thereof, all reissues and extensions thereof and all goodwill associated therewith, including, without limitation, any of the foregoing referred to in Schedule 6, (ii) 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 issued to or held by any Grantor (other than promissory notes issued in connection with extensions of trade credit by any Grantor in the ordinary course of business). 
 “Pledged Securities”: the collective reference to the Pledged Notes and the Pledged Stock. 
  

 4 

 “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 Uniform Commercial Code in effect in the State of New York on the date hereof and, in any event, shall
include, without limitation, all dividends or other income from the Investment Property, collections thereon or distributions or payments with respect thereto. 
 “Receivable”: any right to payment for goods sold, leased, licensed, assigned or otherwise disposed of, 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). 
 “Secured
Parties”: the collective reference to the Administrative Agent, the Lenders and any Qualified Counterparties. 
 “Securities
Act”: the Securities Act of 1933, as amended. 
 “Trademarks”: (i) 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, or otherwise, 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,
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. 
 SECTION 2. GUARANTEE 
 2.1 Guarantee. 
 (a) (i) Each of the Guarantors hereby, jointly and severally, unconditionally and irrevocably, guarantees to the Administrative Agent, for
the ratable benefit of the Secured Parties and their respective successors, indorsees, transferees and assigns, the prompt and complete 

  

 5 

 
payment and performance by the Borrower when due (whether at the stated maturity, by acceleration 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 Swap 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 Swap Agreement
Obligations of such Guarantor. 
 (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 Swap 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 and the obligations of each Guarantor under the guarantee contained in this Section 2 shall have been satisfied by full and final payment in cash, 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 Swap 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 Swap Agreement Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of the Borrower or any Guarantor under this Section 2 which shall,
notwithstanding any such payment (other than any payment made by the Borrower or such Guarantor in respect of the Borrower Obligations or the Guarantor Swap Agreement Obligations or any payment received or collected from the Borrower or such
Guarantor in respect of the Borrower Obligations or the Guarantor Swap Agreement Obligations), remain liable for the Borrower Obligations and the Guarantor Swap Agreement Obligations up to the maximum liability of the Borrower or such 

  

 6 

 
Guarantor hereunder until the Borrower Obligations and the Guarantor Swap Agreement Obligations are fully and finally paid in cash. 
 2.2 Right of Contribution. (a) Each Guarantor hereby agrees that to the extent that a Guarantor shall have paid more than its
proportionate share of any payment made hereunder or the Guarantor Swap Agreement Obligations, such Guarantor shall be entitled to seek and receive contribution from and against any other 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 Swap 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 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 the 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 Swap 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 are fully and finally paid in cash. If any amount shall be paid to the Borrower or any Guarantor on account of such subrogation rights
at any time when all of the Borrower Obligations shall not have been fully and finally paid in cash, 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 such Guarantor to
the Administrative Agent, if required), to be applied against the Borrower Obligations or the Guarantor Swap Agreement Obligations, whether matured or unmatured, in such order as the Administrative Agent may determine. 
 2.4 Amendments, etc. with respect to the Borrower Obligations. The Borrower 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 Swap
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 Swap Agreement Obligations continued, and the Borrower
Obligations or Guarantor Swap 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 

  

 7 

 
the Administrative Agent or any Secured Party (with the consent of such of the Borrower and the Guarantor as shall be required thereunder), and the Specified
Swap 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
Required Lenders or all Lenders, as the case may be) may (with the consent of such of the Borrower and the Guarantor 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 Swap Agreement Obligations may (with the consent of such of the Borrower and the Guarantor 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 Guarantor Swap Agreement Obligations or for the guarantees contained in this Section 2 or any property subject
thereto. 
 2.5 Guarantee Absolute and Unconditional. (a) Each Guarantor waives 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 Swap Agreement Obligation with respect to which such Guarantor is a primary obligor and to which it is entitled pursuant to the applicable
Specified Swap 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 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 Swap Agreement Obligations with respect to which such Guarantor is a primary obligor and to which it is entitled pursuant to the applicable Specified Swap Agreement). Each
Guarantor understands and agrees that the guarantee of such Guarantor contained in this Section 2 shall be construed as a continuing, absolute and unconditional guarantee of payment and not merely of collection without regard to (i) the
validity or enforceability of the Credit Agreement or any other Loan Document, any of the Borrower Obligations or any 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, (ii) 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 (iii) 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 for the Borrower Obligations, or of such Guarantor under the guarantee of such Guarantor 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 

  

 8 

 
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 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 Swap Agreement Obligations 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 Swap
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 Swap 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 Swap Agreement Obligations. 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 (i) the validity or enforceability of the Guarantor Swap 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, (ii) 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 any Person against the Administrative Agent or any Secured Party, or
(iii) 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 Swap 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 Swap 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 Swap 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. 
  

 9 

 2.7 Payments. The Borrower and each Guarantor hereby guarantees that payments by it 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 Swap Agreement Obligations or any Guarantor Swap Agreement Obligations, in the currency and at the place specified in the applicable Specified Swap
Agreement. 
 SECTION 3. GRANT OF SECURITY INTEREST 
 3.1 Grantor Security Interest. Each Grantor hereby assigns and transfers to the Administrative Agent, and hereby grants to the Administrative Agent, for the ratable benefit of 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; 
 (b) all Chattel Paper; 
 (c) all Deposit Accounts(except for monies held as security for the obligations of others);

 (d) all Documents; 
 (e) all Equipment; 
 (f) all General Intangibles; 
 (g) all Instruments; 
 (h) all Intellectual Property; 
 (i) all Inventory; 
 (j) all Investment Property; 
 (k) all Letter of Credit Rights; 
 (l) all Goods and other property not otherwise described
above; 
 (m) all books and records pertaining to the Collateral; and 
 (n) to the extent not otherwise included, all Proceeds and products of any and all of the foregoing, all Supporting Obligations in respect
of any of the foregoing and all collateral security and guarantees given by any Person with respect to any of the foregoing; 
 provided, that the
Collateral shall not include any Excluded Assets. 
  

 10 

 SECTION 4. REPRESENTATIONS AND WARRANTIES 
 To induce the Administrative Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders to make their respective extensions of
credit to the Borrower thereunder, each Grantor (other than the Parent and Holdings except with respect to Sections 4.1(b) and (c), 4.2, 4.3, 4.4 and 4.7) hereby represents and warrants to the Administrative Agent and each Lender that:

 4.1 Representations in Credit Agreement; the Parent’s and Holdings’ Representations. (a) In the case of each Guarantor,
the representations and warranties set forth in Section 3 of the Credit Agreement as they relate to such Guarantor or to the Loan Documents to which such Guarantor is a party, each of which is hereby incorporated herein by reference, are true
and correct, 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. 
 (b) In
the case of the Parent: 
 (i) Parent (A) is duly organized, validly existing and in good standing under the laws of the
jurisdiction of its organization, (B) has the corporate power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged,
(C) is duly qualified as a foreign corporation and in good standing under the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of its business requires such qualification and (D) is in compliance
with all Requirements of Law except to the extent that the failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (ii) Parent has the corporate power and authority, and the legal right, to make, deliver and perform the Loan Documents to which it is a
party and has taken all necessary corporate action to authorize the execution, delivery and performance of the Loan Documents to which it is a party. No consent or authorization of, filing with, notice to or other act by or in respect of, any
Governmental Authority or any other Person is required in connection with the execution, delivery, performance, validity or enforceability of the Loan Documents to which Parent is a party, except the filings referred to in Section 4.1(j) of the
Credit Agreement. This Agreement has been, and each other Loan Document to which it is a party will be, duly executed and delivered on behalf of the Parent. This Agreement constitutes, and each other Loan Document to which it is a party when
executed and delivered will constitute, a legal, valid and binding obligation of the Parent enforceable against the Parent 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. 
 (iii) The execution, delivery and performance of the Loan Documents to which Parent is a party will not violate any Requirement of Law or
Contractual Obligation of the Parent or of any of its Subsidiaries and will not result in, or require, the creation or imposition of any Lien on any of its or their respective properties or revenues pursuant to any such Requirement of Law or
Contractual Obligation (other than pursuant 

  

 11 

 
to this Agreement), except, with respect to such Requirements of Law, could not, in the aggregate, reasonably be expected to have a Material Adverse Effect.

 (iv) No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the
knowledge of the Parent, threatened by or against the Parent or any of its Subsidiaries or against any of its or their respective properties or revenues (x) with respect to any of the Loan Documents or any of the transactions contemplated
hereby or thereby, or (y) which could reasonably be expected to have a Material Adverse Effect. 
 (c) In the case of
Holdings: 
 (i) Holdings (A) is duly organized, validly existing and in good standing under the laws of the jurisdiction
of its organization, (B) has the corporate power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged, (C) is duly
qualified as a foreign corporation and in good standing under the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of its business requires such qualification and (D) is in compliance with all
Requirements of Law except to the extent that the failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (ii) Holdings has the corporate power and authority, and the legal right, to make, deliver and perform the Loan Documents to which it is a
party and has taken all necessary corporate action to authorize the execution, delivery and performance of the Loan Documents to which it is a party. No consent or authorization of, filing with, notice to or other act by or in respect of, any
Governmental Authority or any other Person is required in connection with the execution, delivery, performance, validity or enforceability of the Loan Documents to which Holdings is a party, except the filings referred to in Section 4.1(j) of
the Credit Agreement. This Agreement has been, and each other Loan Document to which it is a party will be, duly executed and delivered on behalf of Holdings. This Agreement constitutes, and each other Loan Document to which it is a party when
executed and delivered will constitute, a legal, valid and binding obligation of Holdings enforceable against Holdings 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. 
 (iii) The execution, delivery and performance of the Loan Documents to which Holdings is a party will not violate any Requirement of Law
or Contractual Obligation of Holdings or of any of its Subsidiaries and will not result in, or require, the creation or imposition of any Lien on any of its or their respective properties or revenues pursuant to any such Requirement of Law or
Contractual Obligation (other than pursuant to this Agreement), except, with respect to such Requirements of Law, could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (iv) No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of
Holdings, threatened by or against Holdings or any of its Subsidiaries or against any of its or their respective properties or revenues (x) with respect to any of the Loan Documents or any of the 

  

 12 

 
transactions contemplated hereby or thereby, or (y) which could reasonably be expected to have a Material Adverse Effect. 
 4.2 Title; No Other Liens. Except for the security interest granted to the Administrative Agent for the ratable benefit of the Secured
Parties pursuant to this Agreement and the other Liens permitted to exist on the Collateral by the Credit Agreement, such Grantor, owns each item of the Collateral free and clear of any and all Liens or claims of others. No financing statement or
other public notice with respect to all or any part of the Collateral is on file or of record in any public office, except such as have been filed in favor of the Administrative Agent, for the ratable benefit of the Secured Parties, pursuant to this
Agreement or as are permitted by the Credit Agreement. 
 4.3 Perfected First Priority Liens. The security interests granted
pursuant to this Agreement (a) (i) upon completion of the filings and other actions specified on Schedule 3 (which have been delivered to the Administrative Agent in completed and duly executed form) will constitute valid
perfected security interests in favor of the Administrative Agent, for the ratable benefit of the Secured Parties, in those types of Collateral in which a security interest maybe perfected by the filing of financing statements (other than fixtures),
and (ii) upon delivery to the Administrative Agent of certificates representing the Pledged Securities, indorsed in blank by an effective indorsement or accompanied by undated stock powers with respect thereto duly indorsed in blank by an
effective indorsement, will constitute valid perfected security interests in favor of the Administrative Agent, for the ratable benefit of the Lenders, in the Pledged Securities, in each case, 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 and (b) are prior to all other Liens on such Collateral in existence
on the date hereof except for unrecorded Liens permitted by the Credit Agreement which have priority over the Liens on such Collateral by operation of law and except for Liens permitted by Sections 6.3(c), (d), (e), (g) and (j) 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, the pledged Inventory and the Equipment (other than 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. 
 4.7 Investment Property. (a) In the case of each Grantor, 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 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 have been duly and validly issued and are fully paid and
nonassessable. 
 (c) 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 

  

 13 

 
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 the Liens permitted by Section 6.3 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 which has not been delivered to the Administrative Agent to the extent required by Section 5.2. 
 (b) The amounts represented by such Grantor to the Lenders 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 Intellectual Property. (a) Schedule 6 lists all Intellectual Property owned by such Grantor in its own name on the date
hereof. 
 (b) On the date hereof, all material Intellectual Property of such Guarantor described on Schedule 6 is valid, subsisting,
unexpired and enforceable, has not been abandoned and does not infringe the intellectual property rights of any other Person. 
 (c) Except
as set forth in Schedule 6, on the date hereof, none of the Intellectual Property 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 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 or such Grantor’s ownership interest
therein, or (ii) which, if adversely determined, would have a material adverse effect on the value of any Intellectual Property. 
 SECTION 5. COVENANTS 
 Each Grantor (other than the Parent and Holdings except with respect to clauses 5.2, 5.4,
5.5, 5.6, 5.7 and 5.8) covenants and agrees with the Administrative Agent and the Secured Parties that, from and after the date of this Agreement until the Obligations shall have been paid in full: 
 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 and Chattel Paper. 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, 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. 
  

 14 

 5.3 Maintenance of Insurance. (a) Such Grantor will maintain, with financially sound and
reputable companies, insurance policies in accordance with Section 5.5 of the Credit Agreement. 
 (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 (or, in the case of non-payment of premium, ten days), after receipt by the Administrative
Agent of written notice thereof, (ii) name the Administrative Agent as insured party or loss payee, and (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 substantially concurrently with the delivery by the Borrower to the Administrative Agent of its audited financial statements for each fiscal year and such supplemental reports with respect
thereto 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 the Collateral or in respect of income or profits therefrom, as
well as all claims of any kind (including, without limitation, claims for labor, materials and supplies) against or with respect to the Collateral, except that no such charge need 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 and such proceedings could not reasonably be expected to result in the sale, forfeiture or loss
of any material portion of the Collateral or any interest therein. 
 5.5 Maintenance of Perfected Security Interest; Further
Documentation. (a) Such Grantor shall maintain the security interest created by this Agreement as a perfected 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 with the Collateral 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 and Letter-of-Credit Rights, taking, to the extent required by the Credit Agreement, any actions necessary to
enable the Administrative Agent to obtain “control” (within the meaning of the applicable Uniform Commercial Code) with respect thereto. 
 (d) At any time when the obligor on any Receivables is a Governmental Authority and such Receivables constitute more than 5% of all Receivables, upon the request of the Administrative Agent, such Grantor shall execute and deliver all such
documents and instruments, and take all such 

  

 15 

 
actions, in order to comply with the requirements of the Federal Assignment of Claims Act and any other similar requirement of any other Governmental
Authority. 
 5.6 Changes in Locations, Name, etc. Such Grantor will not, except upon ten 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 or principal residence 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 the Collateral
which would adversely affect the ability of the Administrative Agent to exercise any of its remedies hereunder; and 
 (b) the
occurrence of any other event which could reasonably be expected to have a material adverse effect on the aggregate value of the 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 certificate (including, without
limitation, any certificate representing a 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. Any sums paid upon or in respect of the Investment Property upon the liquidation or dissolution of any Issuer 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
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 related 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 Secured Parties, segregated from other funds of such Grantor as additional collateral
security for the Obligations. Notwithstanding the foregoing, the Grantors shall not be required to pay over to the Administrative Agent or deliver to the Administrative Agent as Collateral any proceeds of any liquidation or dissolution of any
Issuer, or any distribution of capital or property in respect of any Investment 

  

 16 

 
Property, to the extent that (i) such liquidation, dissolution or distribution, if treated as a Disposition of or Restricted Payment by the relevant
Issuer, would be permitted by the Credit Agreement and (ii) the proceeds thereof are applied toward prepayment of Bridge Loans to the extent required by the Credit Agreement. 
 (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
securities are delivered to the Administrative Agent to the extent required by the Credit Agreement, concurrently with the issuance thereof, to be held by the Administrative Agent as Collateral, (ii) sell, assign, transfer, exchange, or
otherwise dispose of, or grant any option with respect to, the Investment Property or 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 Proceeds thereof, or any interest therein, except for the security interests created by this Agreement or Liens permitted by Section 6.3 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 Pledged Securities or Proceeds thereof. 
 (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
Pledged Securities 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 Pledged Securities issued by it and (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 Pledged Securities issued by it. 
 (d) In the case of any issuance of stock or other equity securities permitted by
Section 5.8(b), such Grantor shall deliver to the Administrative Agent within five Business Days of such issuance a revised Schedule 2 which schedule such Grantor shall represent is complete and correct as of the date of such
delivery. Such Grantor hereby further acknowledges that such stock or equity securities shall be deemed to be Pledged Securities hereunder. 
 (e) Each Issuer that is a partnership or a limited liability company (i) confirms that none of the terms of any equity interest issued by it provides that such equity interest is a “security” within the meaning of
Sections 8-102 and 8-103 of the New York UCC (a “Security”), (ii) agrees that it will take no action to cause or permit any such equity interest to become a Security, (iii) agrees that it will not issue any
certificate representing any such equity interest and (iv) agrees that if, notwithstanding the foregoing, any such equity interest shall be or become a Security, such Issuer will (and the Grantor that holds such equity interest hereby instructs
such Issuer to) comply with instructions originated by the Administrative Agent without further consent by such Grantor. 
 5.9
Receivables. (a) Other than in the ordinary course of business consistent with its past practice, such Grantor will not (i) grant any extension of the time of payment of any Receivable, (ii) compromise or settle any
Receivable for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment of any Receivable, (iv) allow any credit or discount whatsoever on any Receivable or (v) amend, supplement or
modify any Receivable in any manner that could adversely affect the value thereof except for such actions described in the foregoing clauses (i) through (v) which, individually or in the aggregate, affect less than 5% of the aggregate
amount of Receivables at the time of the actions described in the foregoing clauses (i) through (v). 
  

 17 

 (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) 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) 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 Secured Parties, shall obtain a perfected security interest in such mark pursuant to this Agreement, and (v) 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. 
 (b) 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) Such Grantor (either itself or through licensees) (i) will employ each material Copyright and (ii) 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 portion of the Copyrights may become invalidated or otherwise impaired. 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 immediately if it knows, or has reason to know, that any application or registration relating to any material Intellectual Property 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
Intellectual Property 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 five 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 

  

 18 

 
Copyright Office or any similar office or agency in any other country or any political subdivision thereof, to maintain and pursue each application relating
to any material Intellectual Property (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 sue for infringement, misappropriation or dilution, to seek injunctive relief where appropriate and to recover any and all damages for such infringement, misappropriation or
dilution. 
 5.11 Deposit Account Control Agreement. In the case of the Borrower only, such Grantor and the Administrative Agent agree
and covenant that: 
 (a) The Borrower will cause all cash, instruments, securities, other financial assets and funds paid to it from time to
time under, pursuant to or in connection with the Securitization Arrangements to be paid into the Account (as defined in the Deposit Account Control Agreement) and to so remain in such Account so long as it remains in possession of such cash,
instruments, securities, other financial assets and funds. Notwithstanding the foregoing and subject to Section 1 of the Deposit Account Control Agreement, nothing contained herein shall limit the ability of the Borrower to withdraw all or any
portion of the funds on deposit in such Account or the Lockboxes (as defined in the Deposit Account Control Agreement) and to otherwise deal with the Account Collateral (as defined in the Deposit Account Control Agreement) for any purpose
whatsoever, including distributions or contributions to an Affiliate which may use such funds for any purpose whatsoever; provided, however, that such withdrawn funds shall not be deposited into any account of the Borrower other than
such Account or another account subject to an agreement substantially similar to the Deposit Account Control Agreement and reasonably satisfactory to the Administrative Agent, but nothing contained herein shall restrict or impair the ability of the
Borrower to maintain other accounts not covered by the Deposit Account Control Agreement containing other funds. 
 (b) The Borrower will
maintain the security interest created by the Deposit Account Control Agreement as a first priority, perfected security interest and defend the right, title and interest of the Administrative Agent, for the benefit of the Secured Parties, in and to
the Account Collateral against the claims and demands of all Persons whomsoever. At any time and from time to time, upon the request of the Administrative Agent, and at the sole expense of the Borrower, the Borrower will promptly and duly execute
and deliver such further instruments and documents and take such further actions as the Administrative Agent reasonably may request for the purposes of obtaining or preserving the full benefits of the Deposit Account Control Agreement and of the
rights and powers therein granted, including, without limitation, the filing of financing statements under the New York UCC. 
 (c) The
Administrative Agent shall not give the Notice (as defined in the Deposit Account Control Agreement) unless and until an Event of Default shall have occurred and be continuing. Any funds withdrawn by the Administrative Agent from the Account shall
be applied to the Obligations. Upon the correction of any Event of Default, the Administrative Agent shall withdraw any Notice previously given under the Deposit Account Control Agreement. Upon payment in full of the Obligations, the Administrative
Agent shall give the notice of termination contemplated by Section 8 of the Deposit Account Control Agreement. 
  

 19 

 SECTION 6. REMEDIAL PROVISIONS 
 6.1 Certain Matters Relating to Receivables. (a) The Administrative Agent shall have the right, at any time after the occurrence and
during the continuance of an Event of Default, 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 after the occurrence and during the continuance of an Event of Default, upon the Administrative Agent’s request and at the expense of
the relevant Grantor, such Grantor shall cause independent public accountants or others 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,
subject to the Administrative Agent’s direction and control after the occurrence and during the continuance of an Event of Default, 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 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, 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. 
 (d) At any time after the occurrence and during the continuance of an Event of Default, each Guarantor will cooperate with the Administrative Agent to
establish a system of lockbox accounts, under the sole dominion and control of the Administrative Agent, into which all Receivables shall be paid and from which all collected funds will be transferred to a Collateral Account. 
 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 Secured Parties and that payments in respect thereof shall be made directly to the Administrative
Agent. 
 (c) Anything herein to the contrary notwithstanding, each Grantor shall remain liable under each of the Receivables (or any
agreement giving rise thereto) 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 

  

 20 

 
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
the 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, 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 paid in respect of the Pledged Stock 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 or for any purpose permitted by
Section 6.6 of the Credit Agreement, and to exercise all voting and corporate rights with respect to the Pledged Securities; 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 Pledged Securities and make application thereof to the Obligations in the
order set forth in Section 6.5, and (ii) any or all of the Pledged Securities 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 Pledged Securities at any meeting of shareholders 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 Pledged Securities as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Pledged Securities upon the merger, consolidation,
reorganization, recapitalization or other fundamental change in the corporate structure of any Issuer, or upon the exercise by any Grantor or the Administrative Agent of any right, privilege or option pertaining to such Pledged Securities, and in
connection therewith, the right to deposit and deliver any and all of the Pledged Securities 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. 
 (c) Each Grantor hereby authorizes and instructs each Issuer of any Pledged Securities pledged by such Grantor
hereunder 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 Pledged Securities directly to the Administrative Agent. 
  

 21 

 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 Instruments
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 such Grantor, as applicable (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 of the related 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 distribute 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 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 Secured Parties according to the amounts of the Obligations then due and owing and remaining unpaid to the Secured Parties; 
 Third, to the Administrative Agent, for application by it towards prepayment of the Obligations, pro rata among the Secured Parties according to the amounts of the Obligations then held by the
Secured Parties; and 
 Fourth, any balance of such Proceeds remaining after the Obligations shall have been paid in full shall be
paid over to the Borrower or to whomsoever may be lawfully entitled to receive the same. 
 6.6 Code and Other Remedies. If an
Event of Default shall occur and be continuing, the Administrative Agent, on behalf of 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 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 

  

 22 

 
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 with respect to any Grantor’s Collateral, 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 of such Guarantor
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 of such Grantor, in the order specified in Section 6.5 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 them 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 ten 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 cause the Issuer thereof to (i) execute and deliver, and 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 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 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 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 

  

 23 

 
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 Waiver;
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, as applicable, and in the name of such
Grantor, as the case may be, or in its own name, for the purpose of carrying out the terms of this Agreement, to take 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, and, without limiting the generality of the foregoing, each Grantor hereby gives the Administrative Agent the power and right, on behalf of such Grantor, as the case may be, 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 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 endorsements, 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, 

  

 24 

 
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) 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, sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and
completely as though the Administrative Agent were the absolute owner thereof for all purposes, and do, at the Administrative Agent’s option and such Grantor’s expense, as the case may be, 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) license or sublicense whether on an exclusive or non-exclusive
basis, any Intellectual Property 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 irrevocable license of its 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, 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 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 Bridge Loans that are ABR 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 

  

 25 

 
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, any 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 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, except as provided in the first sentence of this
Section, 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 reasonably 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. Each Grantor hereby ratifies and authorizes the filing by the Administrative Agent of any financing statement with respect to the Collateral made prior to the date hereof. 
 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 9.1 of the Credit 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 9.2 of the Credit Agreement; provided that any such notice,
request or demand to or upon any Guarantor shall be addressed to such Person at its notice address set forth on Schedule 1. 
 8.3 No Waiver by Course of Conduct; Cumulative Remedies. Neither the Administrative Agent nor any Secured Party shall 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 

  

 26 

 
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 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 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 fees and disbursements of counsel (including the allocated fees and expenses of in-house counsel) to each Lender 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 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 9.5 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. Each Grantor hereby irrevocably authorizes the Administrative Agent and each Secured Party at any time and from time to time while an Event of Default shall have occurred and be continuing,
without notice to such Grantor or any other Grantor, any such notice being expressly waived by each Grantor, to set-off and appropriate and apply 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 to or for the credit or
the account of such Grantor, or any part thereof in such amounts as the Administrative Agent or such Secured Party may elect, against and on account of the obligations and liabilities of such Grantor to the Administrative Agent or such Secured Party
hereunder and claims of every nature and description of the Administrative Agent or such Secured Party against such Grantor, in any currency, whether arising hereunder, under the Credit Agreement, any other Loan Document or otherwise, as the
Administrative Agent or such Secured Party may elect, whether or not the Administrative Agent or any Secured Party has made any demand for 

  

 27 

 
payment and although such obligations, liabilities and claims may be contingent or unmatured. The Administrative Agent and each Secured Party shall notify
such Grantor promptly of any such set-off and the application made by the Administrative Agent or such Secured Party of the proceeds thereof, provided that the failure to give such notice shall not affect the validity of such set-off 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 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;

  

 28 

 (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 Acknowledgments. 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 among 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 Parent that is required to become a party to this Agreement pursuant to Section 5.9 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 I hereto. 
 8.15
Releases. (a) At such time as the Bridge Loans and the other Obligations (other than Borrower Swap Agreement Obligations and Guarantor Swap Agreement Obligations) shall have been paid in full, 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 shall be sold, transferred or otherwise disposed of by any Grantor in a transaction permitted by the Credit Agreement, 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 request and sole expense of the Borrower, a Subsidiary
Guarantor shall be released from its obligations 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 or any such
Subsidiary shall be converted to a special purpose entity in connection with any Securitization Arrangements; provided that the Borrower shall have delivered to the Administrative Agent, at least ten Business Days prior to the date of the
proposed release, a written request for release identifying the relevant Subsidiary Guarantor and the terms of the sale or other disposition or conversion in reasonable detail, including the price thereof (or the amount of the relevant
Securitization Arrangements) and any expenses in connection therewith, together with a certification by the Borrower stating that such transaction is in compliance with the Credit Agreement and the other Loan Documents. 
  

 29 

 8.16 WAIVER OF JURY TRIAL. EACH GRANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, EACH AGENT
AND EACH SECURED PARTY, 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. 
  

 30 

 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. 
  

					
	 SBA COMMUNICATIONS CORPORATION
 SBA TELECOMMUNICATIONS, INC.
 SBA SENIOR FINANCE, INC.
 SBA SENIOR FINANCE II LLC
 NATWIRELESS ACQUISITION LLC
 SBA BROADBAND SERVICES, INC.
 SBA LEASING, INC.
 SBA NETWORK SERVICES, INC.
 SBA PROPERTIES LOUISIANA LLC
 SBA PUERTO RICO, INC.
 SBA SITES, INC.
 SBA TOWER DEVELOPMENT LLC
 SBA TOWERS, INC.
 SBA TOWERS USVI, INC.
 TCG ACQUISITION LLC
 AAT ACQUISITION LLC
 AAT COMMUNICATIONS CORP.
 DIDIER WIRELESS TOWERS, L.L.C.

		
	 By: 
	 	 /s/ Jeffrey A. Stoops

		 	 Name: 
	 	 Jeffrey A. Stoops

		 	 Title: 
	 	 President and Chief Executive Officer

					
	 DEUTSCHE BANK AG NEW YORK BRANCH, as
 Administrative Agent

		
	 By: 
	 	 /s/ Stanley Chao

		 	 Name: 
	 	 Stanley Chao

		 	 Title: 
	 	 Director

		
	 By: 
	 	 /s/ Peter Kim

		 	 Name: 
	 	 Peter Kim

		 	 Title: 
	 	 Vice PresidentOMNIBUS AGREEMENT

 Exhibit 10.56 
 OMNIBUS AGREEMENT (this “Agreement”), dated as of April 27, 2006, among SBA Senior Finance II LLC, as the Borrower under and as defined in the Revolving Credit Agreement (as defined below) (the
“Revolving Borrower”), General Electric Capital Corporation, as Administrative Agent (the “Revolving Administrative Agent”) and a Lender, and Toronto Dominion (Texas) LLC, DB Structured Products Inc., JPMorgan Chase
Bank, N.A. and Lehman Commercial Paper Inc., as Lenders under and as defined in the Revolving Credit Agreement (the “Revolving Lenders”), SBA Senior Finance, Inc., as the Borrower under and as defined in the Bridge Facility
Agreement (as defined below) (the “Bridge Borrower”), DB Structured Products Inc. and JPMorgan Chase Bank, N.A., as Lenders under and as defined in the Bridge Facility Agreement (the “Bridge Lenders”), and Deutsche
Bank AG, New York Branch, as Administrative Agent under and as defined in the Bridge Facility Agreement (the “Bridge Administrative Agent”). Unless otherwise defined herein, terms defined in the Revolving Credit Agreement and used
herein shall have the meanings given to them in the Revolving Credit Agreement. 
 WITNESSETH: 
 WHEREAS, the Revolving Borrower and the Revolving Lenders are parties to a Credit Agreement (the “Revolving Credit Agreement”), dated as
of December 21, 2005, pursuant to which the Revolving Lenders have agreed to make loans to the Revolving Borrower upon and subject to the terms and conditions set forth therein; 
 WHEREAS, SBA Communications Corporation (the “Parent”), the ultimate parent entity of the Bridge Borrower and the Revolving Borrower,
has entered into a Stock Purchase Agreement, dated as of March 17, 2006, with AAT Holdings, LLC II, AAT Communications Corp. and AAT Acquisition LLC (the “Purchase Agreement”), pursuant to which AAT Acquisition LLC has agreed
to acquire the Capital Stock (as defined in the Purchase Agreement) of AAT Communications Corp. (the “AAT Acquisition”); 
 WHEREAS, in order to effectuate the AAT Acquisition, the Bridge Borrower, an indirect wholly-owned subsidiary of the Parent and the direct parent company of the Revolving Borrower, wishes simultaneously with the execution and delivery of
this Agreement, to enter into a Credit Agreement (the “Bridge Facility Agreement”) with the Bridge Lenders pursuant to which the Bridge Lenders are agreeing to make loans to the Bridge Borrower in an amount not to exceed
$1,100,000,000 in the aggregate; 
 WHEREAS, the Revolving Borrower has requested that the Revolving Credit Agreement remain in effect,
except as otherwise provided herein, but undrawn during the term of the Bridge Facility Agreement; and 
 WHEREAS, subject to the terms and
conditions of this Agreement, the Revolving Lenders are willing to (a) allow the Bridge Borrower to enter into the Bridge Facility Agreement subject to the terms and conditions of this Agreement and (b) permit the Revolving Credit
Agreement to remain in effect, provided that (1) no amounts are available for draw or are in fact drawn down by the Revolving Borrower during the term of the Bridge Facility Agreement and until a Bridge Termination Notice (as defined below) is
delivered to the Revolving Administrative Agent and all of the other terms and conditions contained in the Revolving Credit Agreement are satisfied and (2) the Revolving Borrower continues to pay the commitment fee as provided in
Section 2.4(a) of the Revolving Credit Agreement; 
 WHEREAS, the Bridge Lenders have agreed to the Revolving Borrower’s request
and the continued payment of the commitment fee as provided in Section 2.4(a) of the Revolving Credit Agreement subject to the execution of this Agreement by each of the parties hereto; 
 NOW THEREFORE, in consideration of the foregoing and the mutual covenants herein contained and other good and valuable consideration, the existence and
sufficiency of which is expressly recognized by all of the parties hereto, the parties agree as follows: 

 ARTICLE I 
 Revolving Credit Agreement 
 1.1 Bridge Facility Agreement. Notwithstanding the terms and
conditions of Sections 7.2, 7.3, 7.12 and 7.13 of the Revolving Credit Agreement and any other applicable provisions therein, the Revolving Lenders hereby agree that the Revolving Borrower and its Subsidiaries are permitted to enter into, borrow and
pay and discharge all obligations under, and grant Liens in connection with, the Bridge Facility Agreement and the other Loan Documents (as defined in the Bridge Facility Agreement). 
 1.2 AAT Acquisition. Notwithstanding the terms and conditions of Section 7.8 of the Revolving Credit Agreement and any other applicable
provisions therein, the Revolving Lenders hereby agree that the Revolving Borrower and its Subsidiaries are permitted to effectuate the AAT Acquisition. 
 ARTICLE II 
 Suspension of Revolving Credit Commitments 
 2.1 Suspension and Reinstatement of Commitments. The Revolving Lenders hereby agree that they will not make any Revolving Credit Loans or
issue any Letters of Credit until such time as the Bridge Administrative Agent delivers written notice to the Revolving Administrative Agent, the Revolving Borrower and the Bridge Borrower stating that the term loans made pursuant to the Bridge
Facility Agreement (the “Bridge Loans”), and all other obligations owing under the Bridge Facility Agreement, have been indefeasibly paid in full in cash (the “Bridge Termination Notice”). Until such time as the
Bridge Administrative Agent has delivered the Bridge Termination Notice in accordance with Section 2.3, the Revolving Lenders agree that the number $1,000,000 in Section 8(e) of the Revolving Credit Agreement shall be deemed to be
$2,000,000, the number $5,000,000 in Section 8(h) of the Revolving Credit Agreement shall be deemed to be $10,000,000 and the representations, warranties and covenants of the Loan Parties under Sections 4, 6 and 7 of the Revolving Credit
Agreement (other than Sections 2.4(a), 6.9 and 6.10 thereof) and the other Loan Documents (other than Section 5.5 of the Guarantee and Collateral Agreement and other than the Deposit Account Control Agreement (as defined below)) are hereby
suspended and of no force and effect. All of the parties hereto agree that (i) the Revolving Borrower shall be entitled to pay and the Revolving Lenders shall be entitled to receive the commitment fees as provided in Section 2.4(a) of the
Revolving Credit Agreement and (ii) all of the provisions described in the immediately preceding sentence shall automatically be deemed reinstated upon the date of delivery of the Bridge Termination Notice as described above; provided
that the Revolving Borrower provides a certificate to the Revolving Administrative Agent and the Revolving Lenders signed by a Responsible Officer certifying that the Revolving Borrower is in compliance with all terms of the Revolving Credit
Agreement as then reinstated and no Default or Event of Default shall be in existence at such time. For the avoidance of doubt, the Revolving Lenders and the Revolving Borrower expressly agree that the Revolving Credit Agreement shall not be
reinstated and the Revolving Borrower shall not be entitled to any advances thereunder unless and until all of the conditions precedent set forth in the Revolving Credit Agreement are either cured or waived by the Revolving Administrative Agent and
the Revolving Lenders. 
 2.2 Suspension of Borrowings under the Revolving Credit Agreement. The Revolving Borrower hereby agrees
that it will not be entitled to, and shall not in fact, request any borrowing of Revolving Credit Loans or any issuance of Letters of Credit under the Revolving Credit Agreement until such time as: (i) the Bridge Borrower has indefeasibly paid
in full in cash all of its liabilities under the Bridge Facility Agreement, (ii) the Bridge Administrative Agent has delivered the Bridge Termination Notice in accordance with Section 2.3 and (iii) all other conditions precedent set
forth in the Revolving Credit Agreement have been complied with by the Revolving Borrower or waived by the Revolving Administrative Agent or the Revolving Lenders, as appropriate. The Revolving Borrower expressly releases the Revolving Lenders and
the Revolving Administrative Agent from any liability that may arise by virtue of the Revolving Lenders declining, refusing or 

  

 2 

 
failing to make any advance under the Revolving Credit Agreement until all of the conditions set forth in this Section 2.2 have been satisfied or
waived. 
 2.3 Delivery of Bridge Termination Notice. The Bridge Administrative Agent hereby agrees to give the Revolving
Administrative Agent, the Revolving Borrower, the Bridge Borrower and Wachovia Bank, National Association, as depository bank under and as defined in the Deposit Account Control Agreement, the Bridge Termination Notice within one (1) business
day after payment in full of the Bridge Loans and all other obligations owing (other than indemnification and other contingent or unmatured obligations which are expressly provided to survive the repayment of the Bridge Loans) under the Bridge
Facility Agreement. 
 ARTICLE III 
 Subordination of Liens 
 Until such time as the Bridge Administrative Agent has delivered the Bridge Termination Notice in
accordance with Section 2.3, the parties hereby agree that any and all liens in Collateral now existing or hereafter created or arising in favor of the Revolving Lenders securing the Obligations (other than Obligations under any Specified Hedge
Agreements in existence on the date hereof which will be secured in respect of the Collateral on a pari passu basis with the Obligations under and as defined in the Bridge Facility Agreement) under and as defined in the Revolving Credit
Agreement, regardless of how acquired, whether by grant, statute, operation of law, subrogation or otherwise are expressly junior in priority, operation and effect to any and all liens now existing or hereafter created or arising in favor of the
Bridge Lenders securing the Obligations under and as defined in the Bridge Facility Agreement, notwithstanding (i) anything to the contrary contained in any agreement or filing to which any Revolving Lender may now or hereafter be a party, and
regardless of the time, order or method of grant, attachment, recording or perfection of any financing statements or other security interests, assignments, pledges, deeds, mortgages and other liens, charges or encumbrances or any defect or
deficiency or alleged defect or deficiency in any of the foregoing, (ii) any provision of the Uniform Commercial Code or any applicable law or any document establishing priority or any other circumstance whatsoever or (iii) the fact that
any such Liens in favor of any Bridge Lenders securing any of the Bridge Loans are otherwise subordinated, voided, avoided, invalidated or lapsed. 
 ARTICLE IV 
 Collateral 
 4.1 Pledged Securities. The Revolving Administrative Agent, hereby acknowledges and agrees that, to the extent that it holds, or a third party holds on its behalf, physical possession of or “control” (as defined in the
Uniform Commercial Code) over the Pledged Securities (as defined in the Guarantee and Collateral Agreement) pursuant to the Loan Documents and the related stock powers, such possession and control is (x) for the benefit of itself, as the
Revolving Administrative Agent and the Revolving Lenders and (y) for the benefit of, and shall constitute delivery of the Pledged Securities and related stock powers to, the Bridge Administrative Agent and the Bridge Lenders to the extent
required to perfect their security interest in such Pledged Securities. At any time that the Revolving Administrative Agent receives notice from the Bridge Administrative Agent that an Event of Default (as defined in the Bridge Facility Agreement)
has occurred or is continuing, the Revolving Administrative Agent shall deliver to the Bridge Administrative Agent, at the Bridge Borrower’s sole cost and expense, the Pledged Securities (as defined in the Guarantee and Collateral Agreement) in
its possession or control together with any necessary endorsements as may be requested by the Bridge Administrative Agent; provided that upon such delivery, the Bridge Administrative Agent hereby agrees to hold the Pledged Securities for the
benefit of itself and the Revolving Administrative Agent and the Revolving Lenders subject to any lien subordination provisions described in Article III herein. 
  

 3 

 4.2 Deposit Account Control Agreement. (a) Each of the Revolving Lenders hereby
authorizes the Revolving Administrative Agent to amend the Deposit Account Control Agreement in the form attached as Exhibit A hereto. 
 (b) Each of the Bridge Lenders hereby authorizes the Bridge Administrative Agent to enter into the Deposit Account Control Agreement in the form attached as Exhibit A hereto. 
 ARTICLE V 
 Miscellaneous 
 5.1 Termination. This Agreement and all of the terms and conditions contemplated by this Agreement shall terminate upon the delivery of the
Bridge Termination Notice. 
 5.2 Representations and Warranties. (a) To induce the other parties hereto to enter into this
Agreement, the Revolving Borrower represents and warrants that, as of the Effective Date (as defined below): 
 (i) This
Agreement has been duly authorized, executed and delivered by it and this Agreement constitutes its valid and binding obligation, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 (ii) Each of the representations and warranties made by it in or pursuant to the Loan Documents are true and correct in all material
respects on and as of the date hereof as if made on and as of such date. 
 (iii) No Default or Event of Default has occurred
and is continuing. 
 (b) To induce the other parties hereto to enter into this Agreement, the Bridge Borrower represents and warrants
that, as of the Effective Date: 
 (i) This Agreement has been duly authorized, executed and delivered by it and this
Agreement constitutes its valid and binding obligation, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 (ii) Each of
the representations and warranties made by it in or pursuant to the Loan Documents (as defined in the Bridge Facility Agreement) are true and correct in all material respects on and as of the date hereof as if made on and as of such date.

 (iii) No Default (as defined in the Bridge Facility Agreement) or Event of Default (as defined in the Bridge Facility
Agreement) has occurred and is continuing. 
 5.3 Effectiveness of Agreement. This Agreement shall become effective as of the
first date (the “Effective Date”) on which all parties hereto (or their counsel) shall have received duly executed counterparts hereof that, when taken together, bear the signatures of (A) the Revolving Borrower, (B) the
Bridge Borrower, (C) the Revolving Lenders, (D) the Revolving Administrative Agent, (E) the Bridge Lenders and (F) the Bridge Administrative Agent. 
 5.4 Effect of Agreement. (a) Except as expressly set forth herein, this Agreement shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and
remedies of the 

  

 4 

 
Revolving Lenders under the Revolving Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the Revolving Credit Agreement or any other provision of the Revolving Credit Agreement or of any other Loan Document, all of which are ratified and affirmed in all respects and shall
continue in full force and effect. Nothing herein shall be deemed to entitle the Revolving Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements
contained in the Revolving Credit Agreement or any other Loan Document in similar or different circumstances. 
 (b) This Agreement
shall constitute a “Loan Document” for all purposes of (i) the Revolving Credit Agreement and the other Loan Documents and (ii) the Bridge Facility Agreement and the other Loan Documents (as defined in the Bridge Facility
Agreement). 
 5.5 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of
New York. 
 5.6 Costs and Expenses. (a) The Revolving Borrower agrees to reimburse the Revolving Administrative Agent for
its reasonable out of pocket expenses in connection with this Agreement, including the reasonable fees, charges and disbursements of counsel for the Revolving Administrative Agent. 
 (b) The Bridge Borrower agrees to reimburse the Bridge Administrative Agent for its reasonable out of pocket expenses in connection with this
Agreement, including the reasonable fees, charges and disbursements of counsel for the Bridge Administrative Agent. 
 5.7 Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument. Delivery of any executed counterpart of a signature page of this Agreement by facsimile or electronic transmission shall be as effective as delivery of a manually executed
counterpart hereof. 
 5.8 Headings. The headings of this Agreement are for purposes of reference only and shall not limit or
otherwise affect the meaning hereof. 
 5.9 Successors and Assigns. (a) The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 (b) Each Revolving Lender hereby
agrees that prior to the assignment of any of its rights or obligations under the Revolving Credit Agreement to an Assignee: (i) it shall furnish this Agreement to such Assignee and (ii) such Assignee shall accept and acknowledge this
Agreement. 
 (c) Each Bridge Lender hereby agrees that prior to the assignment of any of its rights or obligations under the Bridge
Facility Agreement to an Assignee (as defined in the Bridge Facility Agreement): (i) it shall furnish this Agreement to such Assignee and (ii) such Assignee shall accept and acknowledge this Agreement. 
 5.10 Authorization. Notwithstanding the terms and conditions of Section 10.1 of the Revolving Credit Agreement, the Revolving Lenders
hereby authorize the Revolving Administrative Agent to make changes to the Deposit Account Control Agreement that are ministerial and technical in nature so long as such changes do not materially adversely affect the rights and obligations of any
Revolving Lender. 
 [remainder of page intentionally left blank] 
  

 5 

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

							
	SBA SENIOR FINANCE II LLC, as Revolving Borrower
			
		 	 By:
	 	 /s/ Jeffrey A. Stoops

		 		 	 Name:
	 	 Jeffrey A. Stoops

		 		 	 Title:
	 	 President and Chief Executive Officer

	
	SBA SENIOR FINANCE, INC., as Bridge Borrower
			
		 	 By:
	 	 /s/ Jeffrey A. Stoops

		 		 	 Name:
	 	 Jeffrey A. Stoops

		 		 	 Title:
	 	 President and Chief Executive Officer

 OMNIBUS AGREEMENT - Signature Page 

							
	JPMORGAN CHASE BANK, N.A., as Bridge Lender
			
		 	 By:
	 	 /s/ James Sullivan

		 		 	 Name:
	 	 James Sullivan

		 		 	 Title:
	 	 Managing Director

							
	DB STRUCTURED PRODUCTS INC., as Bridge Lender
			
		 	 By:
	 	/s/ Mary Connors
		 		 	 Name:
	 	 Mary Connors

		 		 	 Title:
	 	 Director

			
		 	 By:
	 	/s/ John McCarthy
		 		 	 Name:
	 	 John McCarthy

		 		 	 Title:
	 	 Authorized Signatory

							
	DEUTSCHE BANK AG, NEW YORK BRANCH, as Bridge Administrative Agent
			
		 	 By:
	 	 /s/ Stanley Chao

		 		 	 Name:
	 	 Stanley Chao

		 		 	 Title:
	 	 Director

			
		 	 By:
	 	 /s/ Peter Kim

		 		 	 Name:
	 	 Peter Kim

		 		 	 Title:
	 	 Vice President

							
	GENERAL ELECTRIC CAPITAL CORPORATION, as Revolving Administrative Agent and Revolving Lender
			
		 	 By:
	 	 /s/ Matthew A. Toth III

		 		 	 Name:
	 	 Matthew A. Toth III

		 		 	 Title:
	 	 Duly Authorized Signatory

							
	TORONTO DOMINION (TEXAS) LLC, as Revolving Lender
			
		 	 By:
	 	 /s/ Robyn Zeller

		 		 	 Name:
	 	 Robyn Zeller

		 		 	 Title:
	 	 Managing Director

							
	JPMORGAN CHASE BANK, N.A., as Revolving Lender
			
		 	 By:
	 	 /s/ James L. Stone

		 		 	 Name:
	 	 James L. Stone

		 		 	 Title:
	 	 Managing Director

							
	DB STRUCTURED PRODUCTS INC., as Revolving Lender
			
		 	 By:
	 	 /s/ Mary Conners

		 		 	 Name:
	 	 Mary Conners

		 		 	 Title:
	 	 Director

			
		 	 By:
	 	 /s/ John McCarthy

		 		 	 Name:
	 	 John McCarthy

		 		 	 Title:
	 	 Authorized Signatory

							
	LEHMAN COMMERCIAL PAPER INC., as Revolving Lender
			
		 	 By:
	 	 /s/ Ritam Bhalla

		 		 	 Name:
	 	 Ritam Bhalla

		 		 	 Title:
	 	 Authorized Signatory

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]