Document:

Wdesk | Exhibit

EXECUTION VERSION

Exhibit 10.46

FOURTH AMENDMENT, dated as of February 5, 2018 (this “Amendment”), to the CREDIT AGREEMENT, dated as of November 14, 2014, as amended by the First Amendment, dated as of March 9, 2015, the Second Amendment, dated as of February 19, 2016, and the Consent, Waiver, and Third Amendment, dated as of June 22, 2017  (as further amended, supplemented or otherwise modified prior to the date hereof, the “Existing Credit Agreement”), among CENTRAL EUROPEAN MEDIA ENTERPRISES LTD., an exempted limited company incorporated under the laws of Bermuda (“Borrower”), TIME WARNER INC., a Delaware corporation (“Guarantor”), the several banks and other financial institutions from time to time party thereto (the “Lenders”) and BNP PARIBAS, as administrative agent (the “Administrative Agent”).
WHEREAS, the Lenders under the Existing Credit Agreement (for purposes of this Amendment, herein called the “Lenders”) have agreed to extend credit to Borrower under the Existing Credit Agreement in the form of outstanding Loans in an original aggregate principal amount of €250,800,000 (€50,000,000 of which was prepaid by Borrower on August 1, 2017, resulting in an outstanding aggregate principal amount of €200,800,000 as of the date hereof) the terms and subject to the conditions set forth therein;
WHEREAS, Guarantor and the Subsidiary Guarantors have entered into the Guarantee in connection with the Existing Credit Agreement;
WHEREAS, Borrower has requested that the Lenders (a) extend the maturity of the Loans and (b) effect certain other amendments to the Existing Credit Agreement as set forth herein; 
WHEREAS, the Guarantor and the Subsidiary Guarantors have agreed to continue to guaranty the obligations entered in connection with the Existing Credit Agreement through the extended Maturity Date (as defined below); 
NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.  Defined Terms.  Capitalized terms used but not otherwise defined herein (including in the preamble and the recitals hereto) have the meanings assigned to them in the Existing Credit Agreement.
SECTION 2.      Amendment of Existing Credit Agreement.  Effective as of the Fourth Amendment Effective Date (as defined below), the Existing Credit Agreement is hereby amended as follows (the Existing Credit Agreement, as so amended, being referred to herein as the “Credit Agreement”):
(a)      Section 1.01 of the Existing Credit Agreement is hereby amended by:
(i)      inserting the following new defined terms in appropriate alphabetical order:
 “Fourth Amendment” means the Fourth Amendment, dated as of February 5, 2018, to this Agreement among Borrower, Guarantor, the Lenders and the Administrative Agent. 
“Fourth Amendment Effective Date” has the meaning assigned to such term in the Fourth Amendment.
(ii)      amending and restating the following definition in its entirety to read as follows:
 “Maturity Date” means May 1, 2019.
SECTION 3.      Representations and Warranties.  (a) Each of Borrower and Guarantor, as applicable, hereby represents and warrants as to itself only (and not as to the other) that (i) this Amendment is within such Person’s corporate powers and has been duly authorized by all necessary corporate and, if required, stockholder action of such Person, (ii) this Amendment has been duly executed and delivered by such Person, (iii) this Amendment constitutes a legal, valid and binding obligation of such Person, enforceable 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, (iv) as of the date hereof, no Default or Event of Default has occurred and is continuing (provided that the Guarantor is only making this representation on behalf of itself and its Restricted Subsidiaries and the Defaults or Events of Default attributable to itself and its Restricted Subsidiaries and not with respect to any Defaults or Events of Default attributable to Borrower and its Subsidiaries, and Borrower is only making this representation on behalf of itself and its Subsidiaries and the Defaults or Events of Default attributable to itself and its Subsidiaries and not with respect to any Defaults or Events of Default attributable to the Guarantor and its Restricted Subsidiaries) and (v) the representations and warranties of such Person set forth in Article III of the Existing Credit Agreement (including, for the avoidance of doubt, Section 3.04(c), but the reference to December 31, 2014 therein shall be deemed to be December 31, 2016) and in the other Credit Documents are true and correct in all material respects (unless any such representation of warranty is already qualified by materiality, in which case, such representation or warranty is true and correct in all respects) on and as of the date hereof, with the same effect as though made on and as of the date hereof, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties were true and correct in all material respects (unless any such representation of warranty is already qualified by materiality, in which case, such representation or warranty is true and correct in all respects) 

as of such earlier date. Borrower represents and warrants that since December 31, 2016, there has been no material adverse change in the business, assets, operations or financial condition of Borrower and its consolidated subsidiaries, taken as a whole. 
SECTION 4.      Effectiveness.  This Amendment shall become effective as of the first date (the “Fourth Amendment Effective Date”) on which:
(a)      the Administrative Agent (or its counsel) shall have received duly executed counterparts hereof that, when taken together, bear the authorized signatures of Borrower, Guarantor and all the Lenders; 
(b)      the Administrative Agent shall have received an Acknowledgment and Consent, substantially in the form of Annex II hereto, duly executed and delivered by each party thereto; 
(c)      the Administrative Agent shall have received favorable written opinions of (i) DLA Piper UK LLP, counsel for Borrower and (ii) Conyers Dill & Pearman, Bermuda counsel for Borrower;
(d)      the Administrative Agent shall have received a certificate from each of Borrower and Guarantor, in form and substance reasonably satisfactory to the Administrative Agent, dated the Fourth Amendment Effective Date and signed by a Responsible Officer of Borrower and Guarantor, as applicable, confirming that on and as of the Fourth Amendment Effective Date (i) the representations and warranties applicable to such Person set forth in the Credit Documents are true and correct in all material respects (except for representations and warranties expressly stated to relate to a specific earlier date, in which case such representations and warranties are true and correct in all material respects as of such earlier date) and (ii) no Default or Event of Default has occurred or is continuing; and
(e)      the Administrative Agent shall have received, for the account of each Lender, a consent fee as set forth on Annex I hereto.
It is understood and agreed that the conditions specified in clauses (a) through (e) in this Section 4 shall be satisfied on the date hereof. The Administrative Agent shall notify Borrower, Guarantor, CME Media Enterprises B.V. (“CME BV”) and the Lenders of the Fourth Amendment Effective Date, and such notice shall be conclusive and binding.
Without limiting the generality of the provisions of Article VIII of the Existing Credit Agreement, for purposes of determining compliance with the conditions specified in this Section 4, each Lender shall be deemed to have accepted, and to be satisfied with, each document or other matter required under this Section 4 unless the Administrative Agent shall have received notice from such Lender prior to the date hereof specifying its objections thereto.
SECTION 5.      Costs and Expenses.  Borrower shall pay all reasonable out-of-pocket costs and expenses incurred by the Administrative Agent in connection with this Amendment.
SECTION 6.      Effect of this Amendment.  
(a)      Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the Existing Credit Agreement or any other Credit Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement or any other Credit 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 any Credit Party 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 Existing Credit Agreement or any other Credit Document in similar or different circumstances.
(b)      Each Credit Party agrees that all of its obligations, liabilities and indebtedness under each Credit Document, including guarantee obligations under the Guarantee, shall remain in full force and effect, in accordance with applicable law, on a continuous basis after giving effect to this Amendment.
(c)      On and after the Fourth Amendment Effective Date, each reference in the Existing Credit Agreement to “this Agreement”, “herein”, “hereunder”, “hereto”, “hereof” and words of similar import shall, unless the context otherwise requires, refer to the Existing Credit Agreement as amended hereby, and each reference to the Credit Agreement in any other Credit Document shall be deemed to be a reference to the Existing Credit Agreement as amended hereby.
SECTION 7.      Interpretation.  This Amendment shall constitute a Credit Document for the purposes of the Credit Agreement and the other Credit Documents.
SECTION 8.      Governing Law; Jurisdiction; Consent to Service of Process.
(a)      This Amendment shall be construed in accordance with and governed by the law of the State of New York.
(b)      Each party to this Amendment hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to the Credit Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding shall be heard and determined in such New York State court or, to the extent permitted by law, in such Federal court.  Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
(c)      Each party to this Amendment hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Amendment in 

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any court referred to in paragraph (b) of this Section 8.  Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.
(d)      Each party to this Amendment irrevocably consents to service of process in the manner provided for notices in Section 9.01 of the Existing Credit Agreement.  Nothing in this Amendment will affect the right of any party to this Amendment to serve process in any other manner permitted by law.
SECTION 9.      Miscellaneous.  Sections 9.01, 9.04(a), 9.05, 9.06, 9.07, 9.10, 9.11 and 9.13 of the Existing Credit Agreement shall be applicable to this Amendment as though set forth herein, mutatis mutandis.
[Signature page follows]

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

	
			
	 
	CENTRAL EUROPEAN MEDIA ENTERPRISES LTD., as Borrower

	 
	

By:
	

/s/  David Sturgeon
Name: David Sturgeon
Title: Chief Financial Officer

[Signature Page to Fourth Amendment]

	
			
	 
	TIME WARNER INC., as Guarantor

	 
	

By:
	

/s/  Edward B. Ruggiero
Name: Edward B. Ruggiero
Title: Senior Vice President & Treasurer

[Signature Page to Fourth Amendment]

	
			
	 
	BNP PARIBAS, as Administrative Agent and as Lender

	 
	

By:
	

/s/  Nicole Rodriguez
Name: Nicole Rodriguez
Title: Director

	
			
	 
	

By:
	

/s/  Karim Remtoula
Name: Karim Remtoula
Title: Vice President

[Signature Page to Fourth Amendment]

	
			
	 
	CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Lender

	 
	

By:
	

/s/  Bruno Pezy
Name: Bruno Pezy
Title: MD

	
			
	 
	

By:
	

/s/  Xavier de Neuville
Name: Xavier de Neuville
Title: Director

[Signature Page to Fourth Amendment]

	
			
	 
	MIZUHO BANK, LTD, as Lender

	 
	

By:
	

/s/  Daniel Guevara
Name: Daniel Guevara
Title: Authorized Signatory

[Signature Page to Fourth Amendment]

	
			
	 
	SOCIÉTÉ GENERALE, as Lender

	 
	

By:
	

/s/  John Hogan
Name: John Hogan
Title: Director

    

[Signature Page to Fourth Amendment]

    

	
			
	 
	SUMITOMO MITSUI BANKING CORPORATION, as Lender

	 
	

By:
	

/s/  Katsuyuki Kubo
Katsuyuki Kubo
Managing Director

[Signature Page to Fourth Amendment]

    

	
			
	 
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as Lender

	 
	

By:
	

/s/  Matthew Antioco
Name: Matthew Antioco
Title: Director

[Signature Page to Fourth Amendment]

ANNEX II TO 
FOURTH AMENDMENT

ACKNOWLEDGMENT AND CONSENT
Reference is made to the FOURTH AMENDMENT, dated as of February 5, 2018 (“Fourth Amendment”), to the CREDIT AGREEMENT, dated as of November 14, 2014, as amended by the First Amendment, dated as of March 9, 2015, the Second Amendment, dated as of February 19, 2016, and the Consent, Waiver, and Third Amendment, dated as of June 22, 2017 (as further amended by the Fourth Amendment, the “Credit Agreement”), among CENTRAL EUROPEAN MEDIA ENTERPRISES LTD., an exempted limited company incorporated under the laws of Bermuda, TIME WARNER INC. a Delaware corporation, the several banks and other financial institutions from time to time party thereto, and BNP PARIBAS, as administrative agent.  Unless otherwise defined herein, capitalized terms used herein and defined in the Credit Agreement are used herein as therein defined.
Each of the undersigned parties to the Guarantee hereby (a) consents to the transactions contemplated by the Fourth Amendment and (b) acknowledges and agrees that the guarantees made by such party contained in the Guarantee are, and shall remain, in full force and effect, in accordance with applicable law, on a continuous basis after giving effect to the Fourth Amendment.
CME BV hereby (a) consents to the transactions contemplated by the Fourth Amendment and (b) acknowledges and agrees that the guarantees contained in the CME BV Guarantee are, and shall remain, in full force and effect, in accordance with applicable law, on a continuous basis after giving effect to the Fourth Amendment.

A-II-1

IN WITNESS WHEREOF, the parties hereto have caused this Acknowledgment and Consent to be duly executed and delivered by their respective proper and duly authorized officers as of the date first written above.
	
			
	 
	TIME WARNER INC., 
as Guarantor

	 
	

By:
	

                                                               
Name:
Title:

	
			
	 
	HISTORIC TW INC., as Subsidiary Guarantor

	 
	

By:
	

                                                               
Name:
Title:

	
			
	 
	TURNER BROADCASTING SYSTEM, INC., as Subsidiary Guarantor

	 
	

By:
	

                                                               
Name:
Title:

	
			
	 
	HOME BOX OFFICE INC., as Subsidiary Guarantor

	 
	

By:
	

                                                               
Name:
Title:

	
			
	 
	CME MEDIA ENTERPRISES B.V., as CME Subsidiary Guarantor

	 
	

By:
	

                                                               
Name: Alphons van Spaendonck
Title: Managing Director

	
			
	 
	

By:
	

                                                               
Name: Pan-Invest B.V., represented by .........
Title: Managing DirectorExhibit 10.1

 

EXECUTION VERSION

  

REPRICING AMENDMENT

 

This
REPRICING AMENDMENT is dated as of February 8, 2018 (this “Amendment”) and is entered into by and among Canyon
Companies S.à r.l., a private limited liability company (société à responsabilité limitée)
organized and established under the laws of Luxembourg, having its registered office at 6D, route de Trèves, L-2633 Senningerberg,
Grand-Duchy of Luxembourg, with a share capital of twenty thousand and ten United States Dollars ($20,010) and registered with
the Luxembourg Register of Commerce and Companies under number B 187.216 (“Holdings”), Canyon Valor Companies,
Inc., a Delaware corporation, formerly known as GTCR Valor Companies, Inc. (the “Borrower”), Canyon Group
S.à r.l., a private limited liability company (société à responsabilité limitée)
organized and established under the laws of Luxembourg, having its registered office at 6D, route de Trèves, L-2633 Senningerberg,
Grand-Duchy of Luxembourg, with a share capital of twenty thousand United States Dollars ($20,000) and registered with the Luxembourg
Register of Commerce and Companies under number B 202.299 (“Intermediate Lux Holdings” and “Lux Co-Borrower”),
Deutsche Bank AG New York Branch, as administrative agent (in such capacity, the “Administrative Agent”), and,
for purposes of Section 5 hereof, each other Loan Party party hereto.

 

RECITALS:

 

WHEREAS,
reference is hereby made to the First Lien Credit Agreement, dated as of June 16, 2016, among the Borrower, Holdings, Lux Co-Borrower,
Canyon Valor Holdings, Inc., a Delaware corporation, formerly known as GTCR Valor Holdings, Inc. (“Intermediate U.S. Holdings”),
the lenders party thereto from time to time (the “Lenders”), the Administrative Agent and the other parties
thereto (as amended by (i) that certain Incremental Facility Amendment dated as of March 17, 2017, (ii) that certain Refinancing
Amendment and Incremental Facility Amendment dated as of August 4, 2017, and (iii) that certain Incremental Facility Amendment
dated as of December 14, 2017, and as further amended, restated, amended and restated, supplemented or otherwise modified from
time to time prior to the date hereof, the “Credit Agreement”, capitalized terms used (including in the preamble
and recitals hereto) but not defined herein shall have the meanings assigned to such terms in the Credit Agreement); and

 

WHEREAS,
pursuant to Section 9.02(b) of the Credit Agreement, the Borrower and certain of the Lenders party hereto constituting no less
than (i) all of the Lenders directly and adversely affected by the terms of this Amendment and the transactions contemplated hereby,
(ii) the Required Lenders (determined immediately prior to giving effect to this Amendment) and (iii) the Administrative Agent
(solely to acknowledge this Amendment) agree to a decrease of the interest rate margins applicable to the Initial Term Loans and
the Revolving Loans under the Credit Agreement and certain other amendments as set forth herein, in each case subject to the terms
and conditions hereof;

 

NOW,
THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the parties hereto
agree as follows:

 

A.                
Amendments to Credit Agreement. On the 2018 Amendment Effective Date (as defined below), the Credit Agreement
is hereby amended as follows:

 

(i)                Clause (a) of the definition of “Applicable Rate” in Section 1.01 of the Credit Agreement is hereby amended
by deleting said clause in its entirety and inserting the following new clause (a) in lieu thereof:

 

(a) with respect to any Initial
Dollar Term Loan that is an ABR Loan or Eurodollar Loan and any Initial Euro Term Loan,

 

     

     

    

 

(i) at any date prior to the 2018
Amendment Effective Date, the applicable rate per annum set forth below under the caption “ABR Spread”, “Adjusted
LIBO Rate Spread” or “Adjusted EURIBOR Spread” as the case may be, based upon the Senior Secured First Lien Net
Leverage Ratio as of the end of the fiscal quarter of Holdings for which consolidated financial statements have theretofore been
most recently delivered pursuant to Section 5.01(a) or 5.01(b):

 

	Senior Secured First Lien 

Net Leverage Ratio:	ABR Spread	Adjusted LIBO Rate 

Spread	Adjusted EURIBOR 

Spread
	Category 1

Greater than 4.00 to 1.00	3.25%	4.25%	4.25%
	Category 2

Less than or equal to 4.00 to 1.00	3.00%	4.00%	4.00%

  

(ii) at any date on or after the
2018 Amendment Effective Date, the applicable rate per annum set forth below under the caption “ABR Spread”, “Adjusted
LIBO Rate Spread” or “Adjusted EURIBOR Spread” as the case may be:

 

	ABR Spread	Adjusted LIBO Rate 

Spread	Adjusted EURIBOR 

Spread
	2.25%	3.25%	3.50%

  

(ii)         Clause
(b) of the definition of “Applicable Rate” in Section 1.01 of the Credit Agreement is hereby amended by deleting
said clause in its entirety and inserting the following new clause (b) in lieu thereof:

 

(b) with respect to any Revolving
Loan that is an ABR Loan or Eurodollar Loan,

 

(i) at any date prior to the 2018
Amendment Effective Date, the applicable rate per annum set forth below under the caption “ABR Spread”, “Adjusted
LIBO Rate or Adjusted BA Rate Spread” or “Adjusted EURIBOR Spread” as the case may be, based upon the Senior
Secured First Lien Net Leverage Ratio as of the end of the fiscal quarter of Holdings for which consolidated financial statements
have theretofore been most recently delivered pursuant to Section 5.01(a) or 5.01(b):

 

	Senior Secured First Lien 

Net Leverage Ratio:	ABR Spread	Adjusted LIBO Rate 

or Adjusted BA Rate Spread	Adjusted EURIBOR 

Spread
	Category 1

Greater than 4.00 to 1.00	3.00%	4.00%	4.00%
	Category 2

Less than or equal to 4.00 to 1.00	2.75%	3.75%	3.75%

  

    	 	2	 

     

    

 

(ii) at any date on or after the
2018 Amendment Effective Date, the applicable rate per annum set forth below under the caption “ABR Spread”, “Adjusted
LIBO Rate or Adjusted BA Rate Spread” or “Adjusted EURIBOR Spread” as the case may be:

 

	ABR Spread	Adjusted LIBO Rate 

or Adjusted BA Rate Spread	Adjusted EURIBOR 

Spread
	2.25%	3.25%	3.50%

  

(iii)            
Section 1.01 of the Credit Agreement is hereby further amended by adding the following definitions in appropriate alphabetical
order:

 

“2018
Amendment Effective Date” means February 8, 2018.

 

“2018
Repricing Amendment” means that certain Repricing Amendment dated as of the 2018 Amendment Effective Date among Holdings,
the Borrower, the Lux Co-Borrower, the Administrative Agent, the Lenders party thereto and the other Loan Parties party thereto.

 

(iv)             
Section 2.11(a) of the Credit Agreement is hereby amended by deleting clause (i) of said Section in its entirety and inserting
the following text in lieu thereof:

 

“The
Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, without premium or
penalty; provided that in the event that, on or prior to the date that is six months following the 2018 Amendment Effective Date,
the Borrower (x) makes any prepayment of Initial Term Loans in connection with any Repricing Transaction or (y) effects any amendment
of this Agreement resulting in a Repricing Transaction or (z) makes a mandatory prepayment of Initial Term Loans pursuant to Section
2.11(c) in connection with a Prepayment Event described in clause (b) of the definition of “Prepayment Event”, in either
case, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the applicable Term Lenders holding
Initial Term Loans, (I) a prepayment premium of 1.00% of the principal amount of the Initial Term Loans being prepaid in connection
with such Repricing Transaction and (II) in the case of clause (y), an amount equal to 1.00% of the aggregate amount of the applicable
Initial Term Loans of non-consenting Lenders outstanding immediately prior to such amendment that are subject to an effective pricing
reduction pursuant to such amendment.”

 

(v)               
Exhibit A of the Credit Agreement is hereby amended by deleting it in its entirety and inserting Exhibit A hereto in lieu
thereof.

 

B.                 
Conditions Precedent. This Amendment shall become effective as of the first
date (the “2018 Amendment Effective Date”) when each of the conditions set forth in this Section B shall have
been satisfied (subject to the last sentence of this Section B):

 

1.      
The Administrative Agent shall have received duly executed counterparts hereof that, when taken together, bear the signatures
of (a) (i) the Borrower, (ii) the Lux Co-Borrower, (iii) each of the other Loan Parties, (iv) the Administrative Agent, (v) the
Required Lenders (immediately prior to the 2018 Amendment Effective Date), (vi) each of the Revolving Lenders and (vii) all of
the Lenders directly and adversely affected by the terms of this Amendment and the transactions contemplated hereby.

 

    	 	3	 

     

    

 

2.      
The Borrower shall have (a) paid all fees earned, due and payable to the Agents pursuant to that certain Engagement Letter,
dated as of January 29, 2018 (the “Engagement Letter”), among the Borrower, Deutsche Bank Securities Inc., Barclays
Bank PLC and Royal Bank of Canada and (b) reimbursed or paid all reasonable and documented out-of-pocket expenses in connection
with this Amendment (and any other documents prepared in connection herewith and the consummation and administration of the transactions
contemplated hereby) and any other out-of-pocket expenses of the Administrative Agent as required to be paid or reimbursed pursuant
to the Engagement Letter.

 

3.      
The Administrative Agent shall have received (x) a certificate of good standing (or subsistence) with respect to each Loan
Party from the Secretary of State (or similar official) of the State of such Loan Party’s organization (to the extent such
concepts exists in the applicable jurisdiction, or in the case of any Loan Party organized in Ireland, up-to-date searches of the
Irish trade register reflecting that each Loan Party organized in Ireland is in good standing), (y) a closing certificate executed
by a Responsible Officer of the Borrower, dated the 2018 Amendment Effective Date, certifying (i) as to the accuracy of the matters
set forth in Section C(2) of this Amendment and (ii) that the condition precedent set forth in Section B(4) of this
Amendment has been satisfied as of the 2018 Amendment Effective Date and (z) a certificate executed by a Responsible Officer of
each Loan Party, dated the 2018 Amendment Effective Date, certifying as to the incumbency and specimen signature of each officer
of a Loan Party executing this Amendment or any other document delivered in connection herewith on behalf of any Loan Party and
attaching (A) a true and complete copy of the certificate of incorporation (or other applicable charter document) of each Loan
Party, including all amendments thereto, as in effect on the 2018 Amendment Effective Date, certified as of a recent date by the
Secretary of State (or analogous official) of the jurisdiction of its organization, that has not been amended since the date of
the last amendment thereto shown on the certificate of good standing furnished pursuant to clause (x) above, (B) a true and complete
copy of, or certifying that there have been no changes to, the by-laws (or other applicable operating agreements) of each Loan
Party as in effect on the 2018 Amendment Effective Date and (C) copies of resolutions of the Board of Directors of each Loan Party
organized in the Netherlands, Luxembourg, the United Kingdom or Ireland approving and authorizing the execution, delivery and performance
of this Amendment and, in the case of Loan Parties organized in Ireland, the Deed of Confirmation (defined below), certified as
of the 2018 Amendment Effective Date by a Responsible Officer of the applicable Loan Party as being in full force and effect without
modification or amendment.

 

4.      
No Default or Event of Default shall have occurred and be continuing (both immediately before and immediately after giving
effect to this Amendment and the transactions contemplated hereby).

 

5.      
(x) The Initial Term Loans held by each Lender that has not executed and delivered a counterpart of this Amendment to the
Administrative Agent on or prior to 12:00 P.M. (New York City time) on February 2, 2018 (or such later time and date as the Administrative
Agent may agree in its sole discretion) and constitutes a Non-Consenting Lender as contemplated by Section 9.02(c) of the Credit
Agreement (a “2018 Repricing Non-Consenting Lender”) shall have been assigned to an assignee Lender in accordance
with Sections 9.02(c) and 9.04 of the Credit Agreement, (y) any fees, costs and any other expenses in connection with such assignment
arising under Section 9.04 of the Credit Agreement shall have been paid in full or, in the case of transfer fees payable in connection
with an assignment, waived by the Administrative Agent (it being understood that the Administrative Agent has waived the right
to receive any processing and recordation fee as provided in Section 9.04(b) of the Credit Agreement in connection with this Amendment
and the transactions contemplated hereby), and (z) all accrued and unpaid interest on all Initial Term Loans of each 2018 Repricing
Non-Consenting Lender shall have been paid in full by the assignee Lender to such 2018 Repricing Non-Consenting Lender in accordance
with Section 9.02(c) of the Credit Agreement.

 

6.      
A deed of confirmation, governed by the laws of Ireland, dated as of the 2018 Amendment Effective Date, among Cision Investments
Limited, Canyon Companies S.à r.l. and Deutsche Bank AG New York Branch as security trustee (“Deed of Confirmation”).

 

    	 	4	 

     

    

 

Notwithstanding anything to the contrary
herein, it is understood and agreed that the 2018 Amendment Effective Date shall occur no earlier than February 5, 2018.

 

		C.	Other Terms.

 

1.                  
Terms Related to Replacement. The parties
hereto agree that the Borrower is exercising its rights under Section 9.02(c) of the Credit Agreement in connection with this Amendment
to require any 2018 Repricing Non-Consenting Lender to assign all of its interests, rights and obligations under the Loan Documents
to one or more assignees identified by the Borrower or the Administrative Agent, and the Administrative Agent shall coordinate
the transfer of all such Initial Term Loans of each such 2018 Repricing Non-Consenting Lender to the identified assignees, which
transfers shall be effective as of the 2018 Amendment Effective Date, and each assignee acquiring such Initial Term Loans in connection
with such transfers shall have provided a signature page to this Amendment consenting hereto with respect to such acquired Initial
Term Loans.

 

2.                  
Loan Party Certifications. By execution
of Amendment, each of the undersigned hereby certifies, on behalf of the applicable Loan Party and not in his/her individual capacity,
that as of the 2018 Amendment Effective Date:

 

(i)                
each of Holdings, any Intermediate Parent, the Borrower, the Lux Co-Borrower and the Restricted Subsidiaries is (a) duly
organized or incorporated, validly existing and in good standing (to the extent such concept exists in the jurisdiction of organization
of such person) under the laws of the jurisdiction of its incorporation, (b) has the corporate power or other organizational power
and authority to carry on its business as now conducted and to execute, deliver and perform its obligations under this Amendment
and the Credit Agreement (as modified hereby) and (c) is qualified to do business in, and is in good standing in, every jurisdiction
where such qualification is required, except in the cases of clause (a) (other than with respect to the Borrower), clause (b) and
clause (c), where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect;

 

(ii)              
this Amendment has been duly authorized, executed and delivered by each of Holdings, the Borrower and Lux Co-Borrower and
when executed and delivered by the other parties hereto, will constitute a legal, valid and binding obligation of Holdings, the
Borrower and Lux Co-Borrower enforceable against them in accordance with their respective terms, subject to applicable Debtor Relief
Laws and any other applicable bankruptcy, insolvency, reorganization, moratorium, examinership 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;

 

(iii)            
the execution and delivery by each Loan Party of this Amendment and the performance by each of Holdings, the Borrower and
Lux Co-Borrower of this Amendment and the Credit Agreement (as modified hereby) and the consummation of the transactions contemplated
hereby and thereby, (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental
Authority, except such as have been obtained or made and are in full force and effect and except filings necessary to perfect Liens
created under the Loan Documents, (b) will not violate (i) the Organizational Documents of, or (ii) any Requirements of Law applicable
to, Holdings, any Intermediate Parent, the Borrower, the Lux Co-Borrower or any Restricted Subsidiary, (c) will not violate or
result in a default under any indenture or other agreement or instrument binding upon Holdings, any Intermediate Parent, the Borrower
or any Restricted Subsidiary or their respective assets, or give rise to a right thereunder to require any payment, repurchase
or redemption to be made by Holdings, any Intermediate Parent, the Borrower or any Restricted Subsidiary, or give rise to a right
of, or result in, termination, cancellation or acceleration of any obligation thereunder and (d) will not result in the creation
or imposition of any Lien on any asset of Holdings, any Intermediate Parent, the Borrower or any Restricted Subsidiary (other than
Liens created under the Loan Documents) except (in the case of each of clauses (a), (b)(ii) and (c)) to the extent that the failure
to obtain or make such consent, approval, registration, filing or action, or such violation, default or right, as the case may
be, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect;

 

    	 	5	 

     

    

 

(iv)             
the representations and warranties of each Loan Party set forth in any Loan Document to which it is a party are true and
correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality)
on and as of the 2018 Amendment Effective Date, except to the extent that such representations and warranties specifically refer
to an earlier date, in which case they were true and correct in all material respects (and in all respects if any such representation
or warranty is already qualified by materiality) as of such earlier date.

 

3.                  
Amendments; Execution in Counterparts; Severability; Interpretative Provisions(a).

 

(i)                
No amendment or waiver of any provision of this Amendment, and no consent to any departure by the Borrower or any other
Loan Party herefrom, shall be effective unless in writing and signed by the Administrative Agent, Holdings, the Borrower, the Lux
Co-Borrower or the applicable Loan Party, as the case may be, and each such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given.

 

(ii)              
This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single contract. This Amendment shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed
counterpart of a signature page of this Amendment by facsimile or other electronic means shall be effective as delivery of an original
executed counterpart of this Amendment.

 

(iii)            
Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability
of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate
such provision in any other jurisdiction.

 

(iv)             
This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement (as modified) hereby
and the other Loan Documents.

 

(v)               
The rules of construction specified in Sections 1.02 through and including 1.12 of the Credit Agreement also
apply to this Amendment, mutatis mutandis.

 

4.                  
GOVERNING LAW. THIS AMENDMENT SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

5.                  
Acknowledgement and Reaffirmation. Each Loan Party hereby:

 

(a)               
(i) acknowledges that it has reviewed the terms and provisions of this Amendment (including, without limitation, Section
6), (ii) consents to the amendment of the Credit Agreement effected pursuant to this Amendment and (iii) reaffirms and confirms
that each Loan Document to which it is a party or is otherwise bound, each Lien granted by it to the Collateral Agent for the benefit
of the Secured Parties pursuant to any such Loan Document and all Collateral encumbered thereby continues to guarantee or secure,
as the case may be, in accordance with the terms of the applicable Loan Documents the payment and performance of all “Secured
Obligations” under the Credit Agreement, and hereby ratifies the security interests in the Collateral (as defined in the
Credit Agreement) granted by it pursuant to the Security Documents.

 

    	 	6	 

     

    

 

(b)               
acknowledges and agrees that (i) each Loan Document to which it is a party or otherwise bound shall continue and remain
in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or
limited by the execution or effectiveness of this Amendment (except as specifically set forth herein), (ii) notwithstanding
the conditions to effectiveness set forth in this Amendment, no consent by any Loan Party (other than Holdings, the Borrower and
the Lux Co-Borrower) is required by the terms of the Credit Agreement or any other Loan Document to the amendments to the Credit
Agreement effected pursuant to this Amendment and (iii) nothing in the Credit Agreement, this Amendment or any other Loan Document
shall be deemed to require its consent to any future amendments to the Credit Agreement, except to the extent expressly set forth
in Section 9.02 or other applicable section of the Credit Agreement;

 

(c)               
agrees that the Loan Document Obligations and the Secured Obligations include, among other things and without limitation,
the prompt and complete payment and performance by the Borrower when due and payable (whether at the stated maturity, by acceleration
or otherwise) of principal and interest on, and premium (if any) on, the Term Loans under the Credit Agreement as amended by this
Amendment; and

 

(d)               
acknowledges and agrees that nothing in this Amendment shall be deemed to be a novation of any obligations under the Credit
Agreement or any other Loan Document.

 

6.                  
Assignments. The Borrower and the Administrative Agent hereby consent to each assignment
of Initial Term Loans made by any 2018 Repricing Non-Consenting Lender or the Administrative Agent (or Affiliate thereof) to any
assignee in connection with the replacement of any 2018 Repricing Non-Consenting Lender (to the extent the applicable assignee
has been identified on a list approved by the Borrower on or prior to the date of allocation of the Initial Term Loans to such
assignee).

 

7.                  
Miscellaneous. 

 

(i)                
This Amendment shall constitute a Loan Document for all purposes of the Credit Agreement (as modified hereby) and the other
Loan Documents. The provisions of this Amendment are deemed incorporated as of the 2018 Amendment Effective Date into the Credit
Agreement as if fully set forth therein. Except as specifically amended by this Amendment, (i) the Credit Agreement and the other
Loan Documents shall remain in full force and effect and (ii) the execution, delivery and performance of this Amendment shall not
constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of any Agent or Lender under, the
Credit Agreement or any of the other Loan Documents.

 

(ii)              
The Borrower hereby confirms that the indemnification provisions set forth in Section 9.03 of the Credit Agreement shall
apply to this Amendment and any other documents prepared in connection herewith and the consummation and administration of the
transactions contemplated hereby, and such liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments,
suits, costs (including settlement costs) expenses and disbursements (including fees, disbursements and charges of counsel) (as
more fully set forth therein as applicable) as described therein which may arise herefrom or in connection herewith; provided that
expenses (including fees, disbursements and charges of counsel) (as more fully set forth therein as applicable) in excess of $25,000
shall not be reimburseable unless the 2018 Amendment Effective Date occurs.

 

[THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

    	 	7	 

     

    

 

 

IN
WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute and deliver this Amendment
as of the date first set forth above. 

 

 

	 	CANYON COMPANIES S.À R.L.
	 	a Luxembourg private limited liability company (société à responsabilité limitée)

Registered office: 6D, route de Trèves,

L-2633 Senningerberg

Grand-Duchy of Luxembourg

Share Capital : USD 20,010.-

R.C.S. Luxembourg: B187.216,

	 	as Holdings
	 	 	 
	 	By:	/s/ Jack Pearlstein
	 	Name: Jack Pearlstein
	 	Title: Authorized Signatory

 

	 	CANYON GROUP S.À R.L.
	 	a Luxembourg private limited liability company (société à responsabilité limitée)

Registered office: 6D, route de Trèves,

L-2633 Senningerberg

Grand-Duchy of Luxembourg

Share Capital : USD 20,000.-

R.C.S. Luxembourg: B202.299,

	 	as Intermediate Lux Holdings and Lux Co-Borrower
	 	 	 
	 	By:	/s/ Jack Pearlstein
	 	Name: Jack Pearlstein
	 	Title: Authorized Signatory

 

     

     

    

 

   

	 	CANYON VALOR COMPANIES, INC., 
 as Borrower
	 	 	 
	 	 	 
	 	By:	 /s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title:Chief Financial Officer

	 	CANYON VALOR HOLDINGS, INC.

as Intermediate U.S. Holdings and as a Guarantor

	 	 	 
	 	 	 
	 	By:	/s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title:Chief Financial Officer

  

	 	BULLETIN HEALTHCARE LLC
	 	BULLETIN INTELLIGENCE LLC
	 	BULLETIN MEDIA LLC
	 	CAPITOL ACQUISITION CORP. III
	 	CISION US INC.
	 	ICONTACT LLC
	 	PR NEWSWIRE ASSOCIATION LLC
	 	PRN DELAWARE, INC.
	 	VOCUS ACQUISITION LLC
	 	VOCUS NM LLC
	 	VOCUS PRW HOLDINGS LLC
	 	VOCUS SOCIAL MEDIA LLC
	 	each as a Guarantor
	 	 	 
	 	 	 
	 	By:	/s/
Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Chief Financial Officer

 

 

     

     

    

 

 

	 	VOCUS INTERNATIONAL B.V.

as a Guarantor

	 	 	 
	 	 	 
	 	By:	 /s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

	 	CANYON UK AMERICAS LIMITED 
 as a Guarantor
	 	 	 
	 	 	 
	 	By:	 /s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

	 	CANYON UK INVESTMENTS LIMITED
 as a Guarantor
	 	 	 
	 	 	 
	 	By:	 /s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

	 	VOCUS UK LIMITED

as a Guarantor

	 	 	 
	 	 	 
	 	By:	 /s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

	 	DISCOVERY GROUP HOLDINGS LIMITED

as a Guarantor

	 	 	 
	 	 	 
	 	By:	 /s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

     

     

    

  

	 	GORKANA GROUP HOLDINGS LIMITED

as a Guarantor

	 	 	 
	 	 	 
	 	By:	/s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

	 	GORKANA GROUP LIMITED

as a Guarantor

	 	 	 
	 	 	 
	 	By:	 /s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

	 	CANYON UK VENTURES LTD

as a Guarantor

	 	 	 
	 	 	 
	 	By:	/s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

	 	CISION UK HOLDINGS LIMITED

as a Guarantor

	 	 	 
	 	 	 
	 	By:	 /s/ Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director
	 	 

 

CISION UK LIMITED

as a Guarantor

	 	 	 
	 	 	 
	 	By:	/s/
Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

  

     

     

    

 

 

 

	 	PWW INTERNATIONAL LTD

as a Guarantor

	 	 	 
	 	 	 
	 	By:	/s/
Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

	 	PWW ACQUISITION INTERNATIONAL II LTD

as a Guarantor

	 	 	 
	 	 	 
	 	By:	/s/
Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

	 	PR NEWSWIRE EUROPE LIMITED

as a Guarantor

	 	 	 
	 	 	 
	 	By:	/s/
Jack Pearlstein
	 	Name:Jack Pearlstein
	 	Title: Director

 

 

     

     

    

 

 

	 	PR NEWSWIRE BENELUX LIMITED 

as a Guarantor

	 	 	 
	 	 	 
	 	By:	/s/
Kevin Akeroyd
	 	Name:Kevin Akeroyd
	 	Title:Director

 

 

 

 

 

 

 

     

     

    

  

	 	CISION INVESTMENTS LIMITED

as a Guarantor

	 	 	 
	 	 	 
	 	By:	/s/
Enda Kelly
	 	Name:Enda Kelly
	 	Title: Director

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

	 	DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent and a Revolving Lender 
	 	 
	 	By:	/s/ Marcus Tarkington
	 	 	Name: Marcus Tarkington
	 	 	Title: Director

 

	 	
          

	 	By:	/s/ Anca Trifan
	 	 	Name: Anca Trifan
	 	 	Title: Managing Director

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

	 	
        BARCLAYS
        BANK PLC, as a Revolving Lender

         

         

	 	By:	/s/ Chris Walton
	 	 	Name: Chris Walton
	 	 	Title: Director

 

 

 

 

 

 

 

 

 

     

     

    

 

	 	
        ROYAL
        BANK OF CANADA, as a Revolving Lender

         

         

	 	By:	/s/ Kamran Khan
	 	 	Name: Kamran Khan
	 	 	Title: Authorized Signatory

 

 

 

 

 

 

 

 

     

     

    

 

Exhibit A 

 

Form of Assignment and Assumption

 

This Assignment and Assumption
(this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by
and between the Assignor named below (the “Assignor”) and the Assignee named below (the “Assignee”).
It is understood and agreed that the rights and obligations of the Assignor and the Assignee hereunder are several and not joint.
Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below, receipt
of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex A attached hereto
are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein
in full.

 

For an agreed consideration,
the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective
Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations in its
capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent
related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor
under the respective facilities identified below (including, without limitation, any Letters of Credit and Guarantees included
in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action
and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions
governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort
claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold
and assigned by the Assignor to the Assignee pursuant to clause (i) above (the rights and obligations sold and assigned pursuant
to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned Interest”). Such sale
and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without
representation or warranty by the Assignor. 

 

	1.	Assignor:	[Assignor Name] [and is a Defaulting Lender]
	 	 	 
	2.	Assignee:	[Assignee Name]
	 	 	[and is an Affiliate/Approved Fund/Affiliated Debt Fund of [Lender Name]]
	 	 	 
	 	 	Assignees are Affiliated Lenders: _______
	 	 	 
	3.	Borrower:	Canyon Valor Companies, Inc., a Delaware corporation, formerly known as GTCR Valor Companies, Inc.
	 	 	 
	4.	[Lux Co-Borrower:	Canyon Gourp S.à r.l. a private limited liability company organized and established under
the laws of Luxembourg]1

 

 

		1	Only include the reference to the Lux Co-Borrower in
the case of an assignment of an Initial Euro Term Loan.

 

    	 	A-1-1	 

     

    

 

	5.	Administrative Agent:	Deutsche Bank AG New York Branch, as the Administrative Agent under the Credit Agreement.
	6.	Credit Agreement:	The First Lien Credit Agreement dated as of June 16, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among CANYON COMPANIES S.À R.L., a private limited company organized and established under the laws of Luxembourg (“Holdings”), CANYON GROUP S.À R.L., a private limited liability company organized and established under the laws of Luxembourg (“Intermediate Lux Holdings”), CANYON VALOR HOLDINGS, INC., a Delaware corporation formerly known as GTCR VALOR HOLDINGS, INC. (“Intermediate U.S. Holdings”), CANYON VALOR COMPANIES, INC., a Delaware corporation formerly known as GTCR VALOR COMPANIES, INC. (the “Borrower”), CANYON GROUP S.À R.L., a private limited liability company organized and established under the laws of Luxembourg (“Intermediate Lux Holdings” and “Lux Co-Borrower”) the LENDERS and ISSUING BANKS party thereto and DEUTSCHE BANK AG NEW YORK BRANCH, (“Deutsche Bank”) as Administrative Agent (the “Administrative Agent”).

  

	7.   Assigned Interest:	Facility Assigned	Aggregate
amount of 

Commitment/Loans for all 

Lenders2	Amount
of

Commitment/Loans

Assigned3	Percentage
Assigned 

of Commitment/

Loans4	CUSIP Number
	 	____________[5]	$____________	$____________	 ___________%	 
	 	____________	$____________	$____________	

 ___________%	 
	 	____________	$____________	$____________	
         

        ___________%
	 

  

	8.	Effective Date:6	__________________, 20__

 

 

		2	Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and
the Effective Date.

 

		3	Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this
Assignment (e.g., “Revolving Credit Commitment,” “Term Loan Commitment,” etc.)

 

		4	Set forth, to at least 9 decimals, as a percentage of
the Commitment/Loans of all Lenders thereunder.

 

		5	Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this
Assignment (e.g., “Revolving Commitment,” “Term Commitment,” “Revolving Loan,” “Term
Loan,” etc.).

 

		6	To be inserted by the Administrative Agent and which shall be the effective date of recordation of transfer in the register
therefor.

 

    	 	A-2	 

     

    

 

The terms set forth in this Assignment and Assumption are hereby
agreed to:

 

	 	ASSIGNOR:
	 	 	 
	 	[NAME OF ASSIGNOR]
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	ASSIGNEE:
	 	 
	 	[NAME OF ASSIGNEE]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	[Consented to and]7
Accepted:	 
	 	 
	DEUTSCHE BANK AG NEW YORK BRANCH,	 
	  as Administrative Agent	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	[CANYON VALOR COMPANIES, INC.	 
	as Borrower]8	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

 

		7	To be added only if the consent of the Administrative Agent is required by the terms of the Credit
Agreement.

 

		8	To be included unless Borrower's consent is not required
under the terms of the Credit Agreement.

 

 

    	 	A-3	 

     

    

 

	[CANYON GROUP S.À R.L.

as Intermediate Lux Holdings and Lux Co-Borrower	 
	a Luxembourg private limited liability company (société à responsabilité limitée)	 
	Registered office: 6D, route de Trèves, 	 
	L-2633 Senningerberg	 
	Grand-Duchy of Luxembourg	 
	Share Capital : USD 20,000.-	 
	R.C.S. Luxembourg: B202.299]9	 
	 	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title: Class  A Manager	 
	 	 	 
	 	 	 
	[Consented to:]10	 
	 	 	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

 

 

 

		9	Only include in the case of an assignment of an Initial
Euro Term Loan and only if Lux Co-Borrower's consent is required under the terms of the Credit Agreement.

 

		10	To be added only if the consent of any Issuing Bank is
required by the terms of the Credit Agreement.

 

 

    	 	A-4	 

     

    

  

ANNEX A

 

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

 

1.       Representations
and Warranties.

 

1.1       Assignor.
The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest,
(ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with
respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other
Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents
or any collateral thereunder, (iii) the financial condition of Holdings, any of its Subsidiaries or Affiliates or any other
Person obligated in respect of any Loan Document, or (iv) the performance or observance by Holdings, any of its Subsidiaries
or Affiliates or any other Person of any of their respective obligations under any Loan Document.

 

1.2       Assignee.
The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary,
to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender
under the Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 9.04 of the Credit Agreement
(subject to such consents, if any, as may be required under the Credit Agreement) and is not a Disqualified Lender, (iii)
from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the
extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect
to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion
in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received
a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial
statements delivered pursuant to Section 5.01(a) or (b) thereof, as applicable, and such other documents and information
as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase
the Assigned Interest, (vi) it has independently and without reliance upon the Administrative Agent or any other Lender
and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Assignment and Assumption and to purchase the Assigned Interest, (vii) if it is a Lender that is not a United States
person, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of
the Credit Agreement, completed and duly executed by the Assignee and (viii) if it is an Affiliated Lender, it has indicated
its status as such in the space provided on the first page of this Assignment and Assumption; and (b) agrees that (i)
it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms
of the Loan Documents are required to be performed by it as a Lender.

 

2.       Payments.
From and after the Effective Date referred to in this Assignment and Assumption, the Administrative Agent shall make all payments
in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts
which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective
Date.

 

3.       General
Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their
respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together
shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by facsimile
or electronic transmission shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption.
This Assignment and Assumption shall be governed by, and construed in accordance with, the laws of the State of New York.

 

 

    	 	A-1-1

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