Document:

Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
  

 
  

CREDIT AGREEMENT 

Dated as of September 5, 2012 
 among 
 SPECTRUM PHARMACEUTICALS, INC., 

as the Borrower, 

THE SUBSIDIARIES OF THE BORROWER PARTY HERETO, 
 as the Guarantors, 
 BANK OF AMERICA, N.A., 

as Administrative Agent, Swingline Lender and 
 L/C Issuer, 
 and 

THE LENDERS PARTY HERETO 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 
 as Sole Lead Arranger
and Sole Book Manager 
 and 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as Documentation Agent 

 
  

 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	  
		
	 1.01 Defined Terms
	  	 	1	  
		
	 1.02 Other Interpretive Provisions
	  	 	32	  
		
	 1.03 Accounting Terms
	  	 	33	  
		
	 1.04 Rounding
	  	 	34	  
		
	 1.05 Times of Day
	  	 	34	  
		
	 1.06 Letter of Credit Amounts
	  	 	34	  
		
	 ARTICLE II COMMITMENTS AND CREDIT EXTENSIONS
	  	 	34	  
		
	 2.01 Loans
	  	 	34	  
		
	 2.02 Borrowings, Conversions and Continuations of Loans
	  	 	35	  
		
	 2.03 Letters of Credit
	  	 	36	  
		
	 2.04 Swingline Loans
	  	 	44	  
		
	 2.05 Prepayments
	  	 	47	  
		
	 2.06 Termination or Reduction of Commitments
	  	 	48	  
		
	 2.07 Repayment of Loans
	  	 	49	  
		
	 2.08 Interest and Default Rate
	  	 	49	  
		
	 2.09 Fees
	  	 	50	  
		
	 2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate
	  	 	51	  
		
	 2.11 Evidence of Debt
	  	 	51	  
		
	 2.12 Payments Generally; Administrative Agent’s Clawback
	  	 	52	  
		
	 2.13 Sharing of Payments by Lenders
	  	 	53	  
		
	 2.14 Cash Collateral
	  	 	54	  
		
	 2.15 Defaulting Lenders
	  	 	55	  
		
	 2.16 Increase in Aggregate Commitments
	  	 	58	  
		
	 ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	59	  
		
	 3.01 Taxes
	  	 	59	  
		
	 3.02 Illegality
	  	 	63	  
		
	 3.03 Inability to Determine Rates
	  	 	64	  
		
	 3.04 Increased Costs; Reserves on Eurodollar Rate Loans
	  	 	64	  
		
	 3.05 Compensation for Losses
	  	 	66	  

  
 -i-

					
	 3.06 Mitigation Obligations; Replacement of Lenders
	  	 	66	  
		
	 3.07 Survival
	  	 	67	  
		
	 ARTICLE IV CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	 	67	  
		
	 4.01 Conditions of Initial Credit Extension
	  	 	67	  
		
	 4.02 Conditions to all Credit Extensions
	  	 	71	  
		
	 ARTICLE V REPRESENTATIONS AND WARRANTIES
	  	 	71	  
		
	 5.01 Existence, Qualification and Power
	  	 	71	  
		
	 5.02 Authorization; No Contravention
	  	 	72	  
		
	 5.03 Governmental Authorization; Other Consents
	  	 	72	  
		
	 5.04 Binding Effect
	  	 	72	  
		
	 5.05 Financial Statements; No Material Adverse Effect
	  	 	72	  
		
	 5.06 Litigation
	  	 	73	  
		
	 5.07 No Default
	  	 	73	  
		
	 5.08 Ownership of Property
	  	 	74	  
		
	 5.09 Environmental Compliance
	  	 	74	  
		
	 5.10 Insurance
	  	 	74	  
		
	 5.11 Taxes
	  	 	75	  
		
	 5.12 ERISA Compliance
	  	 	75	  
		
	 5.13 Margin Regulations; Investment Company Act
	  	 	76	  
		
	 5.14 Disclosure
	  	 	76	  
		
	 5.15 Compliance with Laws
	  	 	77	  
		
	 5.16 Solvency
	  	 	77	  
		
	 5.17 Casualty, Etc
	  	 	77	  
		
	 5.18 Subsidiaries; Equity Interests; Loan Parties
	  	 	77	  
		
	 5.19 Collateral Representations
	  	 	78	  
		
	 5.20 Use of Proceeds
	  	 	79	  
		
	 5.21 Intellectual Property; Licenses, Etc
	  	 	80	  
		
	 5.22 OFAC
	  	 	80	  
		
	 5.23 Regulatory Matters
	  	 	80	  
		
	 ARTICLE VI AFFIRMATIVE COVENANTS
	  	 	83	  
		
	 6.01 Financial Statements
	  	 	83	  
		
	 6.02 Certificates; Other Information
	  	 	84	  

  
 -ii-

					
	 6.03 Notices
	  	 	86	  
		
	 6.04 Payment of Obligations
	  	 	87	  
		
	 6.05 Preservation of Existence, Etc
	  	 	88	  
		
	 6.06 Maintenance of Properties
	  	 	88	  
		
	 6.07 Maintenance of Insurance
	  	 	88	  
		
	 6.08 Compliance with Laws
	  	 	89	  
		
	 6.09 Books and Records
	  	 	89	  
		
	 6.10 Inspection Rights
	  	 	89	  
		
	 6.11 Use of Proceeds
	  	 	90	  
		
	 6.12 Compliance with Environmental Laws
	  	 	90	  
		
	 6.13 Material Contracts
	  	 	90	  
		
	 6.14 Covenant to Guarantee Obligations
	  	 	90	  
		
	 6.15 Covenant to Give Security
	  	 	91	  
		
	 6.16 Further Assurances
	  	 	91	  
		
	 6.17 Cash Collateral Accounts
	  	 	92	  
		
	 ARTICLE VII NEGATIVE COVENANTS
	  	 	92	  
		
	 7.01 Liens
	  	 	92	  
		
	 7.02 Indebtedness
	  	 	94	  
		
	 7.03 Investments
	  	 	96	  
		
	 7.04 Fundamental Changes
	  	 	97	  
		
	 7.05 Dispositions
	  	 	97	  
		
	 7.06 Restricted Payments
	  	 	98	  
		
	 7.07 Change in Nature of Business
	  	 	99	  
		
	 7.08 Transactions with Affiliates
	  	 	99	  
		
	 7.09 Burdensome Agreements
	  	 	99	  
		
	 7.10 Use of Proceeds
	  	 	100	  
		
	 7.11 Financial Covenants
	  	 	100	  
		
	 7.12 Capital Expenditures
	  	 	100	  
		
	 7.13 Amendments of Organization Documents; Legal Name, State of Formation and Form of Entity
	  	 	101	  
		
	 7.14 Accounting Changes
	  	 	101	  
		
	 7.15 Prepayments, Etc
	  	 	101	  

  
 -iii-

					
	 7.16 Amendment, Etc
	  	 	101	  
		
	 ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES
	  	 	101	  
		
	 8.01 Events of Default
	  	 	101	  
		
	 8.02 Remedies upon Event of Default
	  	 	104	  
		
	 8.03 Application of Funds
	  	 	105	  
		
	 ARTICLE IX ADMINISTRATIVE AGENT
	  	 	106	  
		
	 9.01 Appointment and Authority
	  	 	106	  
		
	 9.02 Rights as a Lender
	  	 	107	  
		
	 9.03 Exculpatory Provisions
	  	 	107	  
		
	 9.04 Reliance by Administrative Agent
	  	 	108	  
		
	 9.05 Delegation of Duties
	  	 	108	  
		
	 9.06 Resignation of Administrative Agent
	  	 	109	  
		
	 9.07 Non-Reliance on Administrative Agent and Other Lenders
	  	 	110	  
		
	 9.08 No Other Duties, Etc
	  	 	110	  
		
	 9.09 Administrative Agent May File Proofs of Claim; Credit Bidding
	  	 	110	  
		
	 9.10 Collateral and Guaranty Matters
	  	 	111	  
		
	 9.11 Secured Cash Management Agreements and Secured Hedge Agreements
	  	 	112	  
		
	 ARTICLE X CONTINUING GUARANTY
	  	 	113	  
		
	 10.01 Guaranty
	  	 	113	  
		
	 10.02 Rights of Lenders
	  	 	113	  
		
	 10.03 Certain Waivers
	  	 	113	  
		
	 10.04 Obligations Independent
	  	 	114	  
		
	 10.05 Subrogation
	  	 	114	  
		
	 10.06 Termination; Reinstatement
	  	 	114	  
		
	 10.07 Stay of Acceleration
	  	 	114	  
		
	 10.08 Condition of Borrower
	  	 	115	  
		
	 10.09 Appointment of Borrower
	  	 	115	  
		
	 10.10 Right of Contribution
	  	 	115	  
		
	 ARTICLE XI MISCELLANEOUS
	  	 	115	  
		
	 11.01 Amendments, Etc
	  	 	115	  
		
	 11.02 Notices; Effectiveness; Electronic Communications
	  	 	117	  
		
	 11.03 No Waiver; Cumulative Remedies; Enforcement
	  	 	119	  

  
 -iv-

					
	 11.04 Expenses; Indemnity; Damage Waiver
	  	 	119	  
		
	 11.05 Payments Set Aside
	  	 	121	  
		
	 11.06 Successors and Assigns
	  	 	122	  
		
	 11.07 Treatment of Certain Information; Confidentiality
	  	 	126	  
		
	 11.08 Right of Setoff
	  	 	127	  
		
	 11.09 Interest Rate Limitation
	  	 	128	  
		
	 11.10 Counterparts; Integration; Effectiveness
	  	 	128	  
		
	 11.11 Survival of Representations and Warranties
	  	 	128	  
		
	 11.12 Severability
	  	 	128	  
		
	 11.13 Replacement of Lenders
	  	 	129	  
		
	 11.14 Governing Law; Jurisdiction; Etc
	  	 	130	  
		
	 11.15 Waiver of Jury Trial and Judicial Reference
	  	 	131	  
		
	 11.16 Subordination
	  	 	131	  
		
	 11.17 No Advisory or Fiduciary Responsibility
	  	 	132	  
		
	 11.18 Electronic Execution of Assignments and Certain Other Documents
	  	 	132	  
		
	 11.19 USA PATRIOT Act Notice
	  	 	132	  

  
 -v-

 BORROWER PREPARED SCHEDULES 

 

			
	 Schedule 4.01(k)
	  	Existing Indebtedness To Be Repaid
	Schedule 5.06	  	Litigation
	Schedule 5.10	  	Insurance
	Schedule 5.12	  	Pension Plans
	Schedule 5.18(a)	  	Subsidiaries, Joint Ventures, Partnerships and Other Equity Investments
	Schedule 5.18(b)	  	Loan Parties
	Schedule 5.19(b)	  	Intellectual Property
	Schedule 5.19(c)	  	Documents, Instrument, and Tangible Chattel Paper
	Schedule 5.19(d)(i)	  	Deposit Accounts & Securities Accounts
	Schedule 5.19(d)(ii)	  	Electronic Chattel Paper & Letter-of-Credit Rights
	Schedule 5.19(e)	  	Commercial Tort Claims
	Schedule 5.19(f)	  	Pledged Equity Interests
	Schedule 5.19(g)	  	Locations
	Schedule 5.19(h)	  	Material Contracts
	Schedule 5.23	  	Registrations
	Schedule 7.01	  	Existing Liens
	Schedule 7.02	  	Existing Indebtedness
	Schedule 7.03	  	Existing Investments
	Schedule 7.05	  	Permitted Dispositions
	Schedule 7.17	  	Post-Closing Deliveries

 ADMINISTRATIVE AGENT PREPARED SCHEDULES 
  

			
	Schedule 1.01(a)	  	Certain Addresses for Notices
	Schedule 1.01(b)	  	Initial Commitments and Applicable Percentages
		
	EXHIBITS	  	
		
	Exhibit A	  	Form of Administrative Questionnaire
	Exhibit B	  	Form of Assignment and Assumption
	Exhibit C	  	Form of Compliance Certificate
	Exhibit D	  	Form of Joinder Agreement
	Exhibit E	  	Form of Loan Notice
	Exhibit F	  	Form of Permitted Acquisition Certificate
	Exhibit G	  	Form of Note
	Exhibit H	  	Form of Secured Party Designation Notice
	Exhibit I	  	Form of Solvency Certificate
	Exhibit J	  	Form of Swingline Loan Notice
	Exhibit K	  	Form of Officer’s Certificate
	Exhibit L	  	Forms of U.S. Tax Compliance Certificates
	Exhibit M	  	Form of Funding Indemnity Letter
	Exhibit N	  	Form of Landlord Waiver
	Exhibit O	  	Form of Financial Condition Certificate
	Exhibit P	  	Form of Intercompany Subordination Agreement

  
 -i-

 CREDIT AGREEMENT 

This CREDIT AGREEMENT is entered into as of September 5, 2012, among SPECTRUM PHARMACEUTICALS, INC., a Delaware corporation
(the “Borrower”), the Guarantors (defined herein), the Lenders (defined herein), and BANK OF AMERICA, N.A., as Administrative Agent, Swingline Lender and L/C Issuer. 

PRELIMINARY STATEMENTS: 
 WHEREAS, the Loan Parties (as hereinafter defined) have requested that the Lenders, the Swingline Lender and the L/C Issuer make loans and other financial accommodations to the Loan Parties in an
aggregate amount of up to $75,000,000. 
 WHEREAS, the Lenders, the Swingline Lender and the L/C Issuer have agreed to
make such loans and other financial accommodations to the Loan Parties on the terms and subject to the conditions set forth herein. 
 NOW THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows: 

ARTICLE I 

DEFINITIONS AND ACCOUNTING TERMS 
  

	1.01	Defined Terms. 

 As
used in this Agreement, the following terms shall have the meanings set forth below: 
 “Acquisition” means the
acquisition, whether through a single transaction or a series of related transactions, of (a) a controlling equity interest or other controlling ownership interest in another Person (including the purchase of an option, warrant or convertible
or similar type security to acquire such a controlling interest at the time it becomes exercisable by the holder thereof), whether by purchase of such equity or other ownership interest or upon the exercise of an option or warrant for, or conversion
of securities into, such equity or other ownership interest, or (b) assets of another Person which constitute all or substantially all of the assets of such Person or of a division, line of business or other business unit of such Person.

 “Administrative Agent” means Bank of America in its capacity as administrative agent under any of the Loan
Documents, or any successor administrative agent. 
 “Administrative Agent’s Office” means the
Administrative Agent’s address and, as appropriate, account as set forth on Schedule 1.01(a), or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit A or
any other form approved by the Administrative Agent. 

 “Affiliate” means, with respect to a specified Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Aggregate Commitments” means the Commitments of all the Lenders. 

“Agreement” means this Credit Agreement. 
 “Allos” means Allos Therapeutics, Inc., a Delaware corporation. 

“Allos Acquisition” means the Acquisition by the Borrower, directly or indirectly, of all of the Equity Interests of
Allos on the Closing Date for total consideration in an amount not to exceed $225,000,000 pursuant to and in accordance with the Allos Acquisition Documents. 
 “Allos Acquisition Agreement” means the Agreement and Plan of Merger dated as of April 4, 2012 (together with all exhibits and schedules thereto), among the Borrower, Sapphire
Acquisition Sub, Inc. and Allos, as amended, restated, supplemented or modified as permitted by this Agreement. 

“Allos Acquisition Documents” means the Allos Acquisition Agreement and each other agreement, instrument or other
document (including, without limitation, employment agreements with the senior management of Allos) (together with all exhibits, schedules and appendices thereto) entered into by any Loan Party in connection with the Allos Acquisition. 

“Applicable Percentage” means, with respect to any Lender at any time, the percentage (carried out to the ninth decimal
place) of the Aggregate Commitments represented by such Lender’s Commitment at such time, subject to adjustment as provided in Section 2.15. If the Commitment of all of the Lenders to make Loans and the obligation of the L/C Issuer
to make L/C Credit Extensions have been terminated pursuant to Section 8.02, or if the Commitments have expired, then the Applicable Percentage of each Lender shall be determined based on the Applicable Percentage of such Lender most
recently in effect, giving effect to any subsequent assignments. The Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 1.01(b) or in the Assignment and Assumption pursuant to which such Lender
becomes a party hereto, as applicable. 
 “Applicable Rate” means, for any day, the rate per annum set forth
below opposite the applicable Level then in effect (based on the Consolidated Leverage Ratio), it being understood that the Applicable Rate for (a) Base Rate Loans shall be the percentage set forth under the column “Base Rate”,
(b) Eurodollar Rate Loans shall be the percentage set forth under the column “Eurodollar Rate & Letter of Credit Fee”, (c) the Letter of Credit Fee shall be the percentage set forth under the column “Eurodollar
Rate & Letter of Credit Fee”, and (d) the Commitment Fee shall be the percentage set forth under the column “Commitment Fee”: 

 

									
	Level	 	 Consolidated Leverage

Ratio
	 	 Eurodollar Rate

& Letter of Credit Fee
	 	 Base Rate
	 	 Commitment

Fee

	 1
	 	Less than 0.50 to 1.00	 	1.75%	 	0.75%	 	0.375%
	 2
	 	Greater than or equal to 0.50 to 1.00 but less than 1.00 to 1.00	 	2.00%	 	1.00%	 	0.500%
	 3
	 	Greater than or equal to 1.00 to 1.00	 	2.25%	 	1.25%	 	0.625%

  
 2 

 Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Leverage Ratio
shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a); provided, however, that if a Compliance Certificate is not delivered when
due in accordance with such Section, then, upon the request of the Required Lenders, Pricing Level 3 shall apply, in each case as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and
in each case shall remain in effect until the first Business Day following the date on which such Compliance Certificate is delivered. 

Notwithstanding anything to the contrary contained in this definition, (a) the determination of the Applicable Rate for any period shall be subject
to the provisions of Section 2.10(b) and (b) the initial Applicable Rate shall be set forth in Level 3 until the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to
Section 6.02(a) to the Administrative Agent for the fiscal quarter of the Borrower ending September 30, 2012. 

“Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender
or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Arranger” means
Merrill Lynch, Pierce, Fenner & Smith Incorporated, in its capacity as sole lead arranger and sole book manager. 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with
the consent of any party whose consent is required by Section 11.06(b)), and accepted by the Administrative Agent (such acceptance not to be unreasonably withheld, conditioned or delayed), in substantially the form of
Exhibit B or any other form (including electronic documentation generated by MarkitClear or other electronic platform) approved by the Administrative Agent. 
 “Attributable Indebtedness” means, on any date, (a) in respect of any Capitalized Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such
Person prepared as of such date in accordance with GAAP, (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease or similar payments under the relevant lease or other applicable agreement or instrument
that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease or other agreement or instrument were accounted for as a Capitalized Lease, and (c) all Synthetic Debt of such Person.

 “Audited Financial Statements” means the audited Consolidated balance sheet of the Borrower and its
Subsidiaries (other than Allos and its Subsidiaries) for the fiscal year ended December 31, 2011, and the related Consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Borrower and
its Subsidiaries, including the notes thereto. 
 “Availability Period” means the period from and including the
Closing Date to the earliest of (a) the Maturity Date, (b) the date of termination of the Commitments pursuant to Section 2.06, and (c) the date of termination of the Commitment of each Lender to make Revolving Loans and
of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02. 
 “Bank of
America” means Bank of America, N.A. and its successors. 
 “Base Rate” means for any day a
fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and
(c) the Eurodollar Rate plus 1.00%. The “prime rate” is 

  
 3 

 
a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point
for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such
change. 
 “Base Rate Loan” means a Revolving Loan that bears interest based on the Base Rate. 

“Biogen Lien” means, collectively, the Liens existing on the Closing Date (i) granted by RIT Oncology, LLC
to Biogen IDEC, Inc. pursuant to that certain Security Agreement dated as of December 15, 2008, by and between RIT Oncology, LLC and Biogen IDEC, Inc., as amended, and any renewals or extensions thereof (the “RIT/Biogen Security
Agreement”) and (ii) granted by Spectrum Pharmaceuticals, Inc. (as successor by assignment from Cell Therapeutics, Inc.) to Biogen IDEC, Inc. pursuant to that certain Amended and Restated Security Agreement dated as of
December 15, 2008, by and between Spectrum Pharmaceuticals, Inc. (as successor by assignment from Cell Therapeutics, Inc.) and Biogen IDEC, Inc. (the “CTI/Biogen Security Agreement”; together with the RIT/Biogen Security
Agreement, the “Biogen Security Agreements” and each a “Biogen Security Agreement”); provided that in each case (a) such Biogen Security Agreement is not amended to increase the scope of the collateral
grant therein, (b) the amount secured or benefited thereby is not increased except as permitted by Section 7.02(b), (c) the direct or any contingent obligor with respect thereto is not changed, and (d) any renewal or
extension of the obligations secured or benefited thereby is permitted by Section 7.02(b). 

“Borrower” has the meaning specified in the introductory paragraph hereto. 

“Borrower Materials” has the meaning specified in Section 6.02. 

“Borrowing” means a Revolving Borrowing or a Swingline Borrowing, as the context may require. 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to
close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan, means any such day that is also a London Banking Day. 

“Canadian JV” means Spectrum Pharma Canada Inc., a corporation organized under the laws of Canada. 

“Capital Expenditures” means, with respect to any Person for any period, any expenditure in respect of the purchase or
other acquisition of any fixed or capital asset (excluding normal replacements and maintenance which are properly charged to current operations). For purposes of this definition, the purchase price of equipment that is purchased within ninety
(90) days after the trade-in of existing equipment or with insurance proceeds, indemnity payments, condemnation awards (or payments in lieu thereof) or damage recovery proceeds shall be included in Capital Expenditures only to the extent of the
gross amount by which such purchase price exceeds the credit granted by the seller of such equipment for the equipment being traded in at such time or the amount of such insurance proceeds, as the case may be. Notwithstanding the foregoing,
“Capital Expenditures” shall not include any expenditure (i) made by the Borrower or any Subsidiary of the consideration for a Permitted Acquisition, (ii) made by the Borrower or any Subsidiary to effect leasehold improvements to
any property leased by such Person as lessee, to the extent that such expenses have been reimbursed in cash by the landlord which is not a Loan Party, (iii) actually paid for by a third party (excluding any Loan Party) and for which no Loan
Party has provided or 

  
 4 

 
is required to provide or incur, directly or indirectly, any consideration or monetary obligation to such third party or any other Person (whether before, during or after such period), and
(iv) made with the cash proceeds from the sale or issuance of any common Equity Interests of the Borrower. 

“Capitalized Leases” means all leases that have been or should be, in accordance with GAAP, recorded as capitalized
leases. 
 “Cash Collateral Account” means a blocked, non-interest bearing deposit account of one or more of
the Loan Parties at Bank of America (or another commercial bank selected in compliance with Section 6.17) in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise
established in a manner reasonably satisfactory to the Administrative Agent. 
 “Cash Collateralize” means to
pledge and deposit in a Cash Collateral Account with or deliver to the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Lenders, as collateral for the L/C Obligations, Obligations, or obligations of Lenders
to fund participations in respect of either thereof (as the context may require), cash or deposit account balances or, if the L/C Issuer shall agree in its sole discretion, other credit support, in each case pursuant to documentation in form and
substance reasonably satisfactory to the Administrative Agent and the L/C Issuer. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.

 “Cash Equivalents” means any of the following types of Investments, to the extent owned by the Borrower or
any of its Subsidiaries free and clear of all Liens (other than Permitted Liens): 
 (a) readily marketable
obligations issued or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality thereof having maturities of not more than three hundred sixty days (360) days from the date of acquisition thereof;
provided that the full faith and credit of the United States of America is pledged in support thereof; 

(b) time deposits with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that
(i) (A) is a Lender or (B) is organized under the laws of the United States of America, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws of the
United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause (c) of this definition
and (iii) has combined capital and surplus of at least $1,000,000,000, in each case with maturities of not more than one hundred eighty (180) days from the date of acquisition thereof; 

(c) commercial paper in an aggregate amount of no more than $100,000 per issuer outstanding at any time issued by any
Person organized under the laws of any state of the United States of America and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or at least “A-1” (or the then equivalent grade) by S&P, in each case
with maturities of not more than one hundred eighty (180) days from the date of acquisition thereof; and 

(d) Investments, classified in accordance with GAAP as current assets of the Borrower or any of its Subsidiaries, in money
market investment programs registered under the Investment Company Act of 1940, which are administered by financial institutions that have the highest rating obtainable from either Moody’s or S&P, and the portfolios of which are limited

  
 5 

 
solely to Investments of the character, quality and maturity described in clauses (a), (b) and (c) of this definition. 

“Cash Management Agreement” means any agreement that is not prohibited by the terms hereof to provide treasury or cash
management services, including deposit accounts, overnight draft, credit cards, debit cards, p-cards (including purchasing cards and commercial cards), funds transfer, automated clearinghouse, zero balance accounts, returned check concentration,
controlled disbursement, lockbox, account reconciliation and reporting and trade finance services and other cash management services. 
 “Cash Management Bank” means any Person in its capacity as a party to a Cash Management Agreement that, (a) at the time it enters into a Cash Management Agreement with a Loan Party,
is a Lender or an Affiliate of a Lender, or (b) at the time it (or its Affiliate) becomes a Lender, is a party to a Cash Management Agreement with a Loan Party, in each case in its capacity as a party to such Cash Management Agreement (even if
such Person ceases to be a Lender or such Person’s Affiliate ceased to be a Lender); provided, however, that for any of the foregoing to be included as a “Secured Cash Management Agreement” on any date of determination
by the Administrative Agent, the applicable Cash Management Bank (other than the Administrative Agent or an Affiliate of the Administrative Agent) must have delivered a Secured Party Designation Notice to the Administrative Agent prior to such date
of determination. 
 “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of
1980. 
 “CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability Information
System maintained by the U.S. Environmental Protection Agency. 
 “CFC” means a Person that is a controlled
foreign corporation under Section 957 of the Code. 
 “Change in Law” means the occurrence, after the
Closing Date, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule regulation or treaty or in the administration, interpretation, implementation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the
contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated
by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to
be a “Change in Law”, regardless of the date enacted, adopted or issued. 
 “Change of Control” means
an event or series of events by which: 
 (a) any “person” or “group” (as such terms are used
in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or
administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all
securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time (such right, an “option right”)), directly or indirectly, of 25% or more of the Equity Interests
of the Borrower 

  
 6 

 
entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted basis (and taking into account all such securities that such
“person” or “group” has the right to acquire pursuant to any option right); or 
 (b) during
any period of twelve (12) consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Borrower cease to be composed of individuals (i) who were members of that board or equivalent
governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or
nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and
(ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body (excluding, in the case of both clause (ii) and clause (iii), any individual whose
initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors by any
person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors). 

“Closing Date” means the date hereof. 
 “Closing Date Material Adverse Effect” means any effect, change, claim, event or circumstance (collectively, “Effect”) that, considered together with all other Effects,
is or would reasonably be expected to be or to become materially adverse to, or has or would reasonably be expected to have or result in a material adverse effect on, the assets, liabilities (whether matured or unmatured, absolute or contingent, or
otherwise), business, financial condition or results of operations of Allos and its Subsidiaries, taken as a whole; provided, however, that, in no event shall any Effects resulting from any of the following, alone or
in combination, be deemed to constitute, or be taken into account in determining whether there has occurred, a Closing Date Material Adverse Effect: (a) conditions generally affecting the biotechnology or pharmaceutical industry or the U.S. or
global economy as a whole, to the extent that such conditions do not have a disproportionate impact on Allos and its Subsidiaries, taken as a whole; (b) general conditions in the financial markets, and any changes therein (including any changes
arising out of acts of terrorism, war, weather conditions or other force majeure events), to the extent that such conditions do not have a disproportionate impact on Allos and its Subsidiaries, taken as a whole; (c) changes in the trading price
or trading volume of the outstanding common stock, par value $0.001 per share, of Allos (“Allos Common Stock”) (it being understood, however, that except as otherwise provided in clauses (a), (b), (d),
(e) or (g) of this sentence, any Effect giving rise to or contributing to such changes in the trading price or trading volume of Allos Common Stock may give rise to a Closing Date Material Adverse Effect and may be taken into
account in determining whether a Closing Date Material Adverse Effect has occurred); (d) changes in GAAP (or any interpretations of GAAP) or any federal, state, local, municipal, foreign or other law, statute, constitution, principle of common
law, resolution, ordinance, code, edict, decree, rule, regulation, order, award, ruling or requirement issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the authority of any Governmental Body (or under the
authority of the NASDAQ Global Market and the NASDAQ Global Select Market) applicable to Allos or any of its Subsidiaries; (e) the failure to meet public estimates or forecasts of revenues, earnings of other financial metrics, in and of itself,
or the failure to meet internal projections, forecasts or budgets of revenues, earnings or other financial metrics, in and of itself (it being understood, however, that, except as otherwise provided in clauses (a), (b), (c),
(d) or (f) of this sentence, any Effect giving rise to or contributing to any such failure may give rise to a Closing Date Material Adverse Effect and may be taken into account in determining whether a Closing Date Material
Adverse Effect has occurred); (f) any 

  
 7 

 
stockholder litigation arising from or relating to (i) that certain Agreement and Plan of Merger and Reorganization, dated as of July 19, 2011, by and among AMAG Pharmaceuticals, Inc.,
Alaska Acquisition Sub, Inc. and Allos (as amended on August 8, 2011, the “AMAG Merger Agreement”) or the Contemplated Transactions (as defined in the AMAG Merger Agreement), or (ii) the Allos Acquisition Agreement or the
tender offer, the merger and the other transactions contemplated by the Allos Acquisition Agreement and the Company Stockholder Support Agreements (as defined in the Allos Acquisition Agreement), in each case relating to a breach of the fiduciary
duties of Allos’s board of directors to Allos’s stockholders under applicable law; (g) Effects resulting directly from the announcement or pendency of (i) any proposal made prior to the date of the Allos Acquisition Agreement by
the Borrower to acquire Allos, or (ii) the Allos Acquisition Agreement or the tender offer, the merger and the other transactions contemplated by the Allos Acquisition Agreement and the Company Stockholder Support Agreements (as defined in the
Allos Acquisition Agreement), in each case including loss of employees, suppliers or customers (including customer orders or contracts); (h) Effects resulting from Allos’s evaluation of its accounting for revenue recognition in connection
with Allos’s collaboration with Mundipharma International Corporation Limited in response to SEC staff comments, including any changes to Allos’s accounting or any amendments or restatements of Allos’s financial statements (or any
related notes) filed with the SEC on or prior to the date of the Allos Acquisition Agreement that resulted from such evaluation; or (i) Effects resulting from the European Medicines Agency’s re-examination of the negative opinion issued
with respect to the conditional approval of FOLOTYN®. 

“Code” means the Internal Revenue Code of 1986. 

“Collateral” means all of the “Collateral” referred to in the Collateral Documents and all of the other
property that is or is intended under the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the Secured Parties. 
 “Collateral Documents” means, collectively, the Security Agreement, each Joinder Agreement, each of the mortgages, collateral assignments, security agreements, pledge agreements or other
similar agreements delivered to the Administrative Agent pursuant to Section 6.15, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Administrative Agent for the benefit
of the Secured Parties. 
 “Commitment” means, as to each Lender, its obligation to (a) make Revolving
Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swingline Loans, in an aggregate principal amount at any one time outstanding not to exceed the
amount set forth opposite such Lender’s name on Schedule 1.01(b) under the caption “Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as
such amount may be adjusted from time to time in accordance with this Agreement. 
 “Compliance Certificate”
means a certificate substantially in the form of Exhibit C. 
 “Connection Income Taxes” means
Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated” shall mean, when used with reference to financial statements or financial statement items of the Borrower and its Subsidiaries or any other Person, such statements or items
on a consolidated basis in accordance with the consolidation principles of GAAP. 

  
 8 

 “Consolidated EBITDA” means, at any date of determination, an amount equal
to Consolidated Net Income for the most recently completed Measurement Period plus the following to the extent deducted in calculating such Consolidated Net Income (without duplication): (a) Consolidated Interest Charges, (b) the
provision for federal, state, local and foreign income taxes payable, (c) depreciation and amortization expense, (d) severance expense to the extent deducted in determining such Consolidated Net Income, in an aggregate amount not to exceed
$25,000,000, (e) other non-recurring expenses reducing such Consolidated Net Income which do not represent a cash item in such period or any future period (in each case of or by the Borrower and its Subsidiaries for such Measurement Period),
(f) other non-recurring and extraordinary cash expenses reducing Consolidated Net Income in an aggregate amount not to exceed $3,000,000 in any fiscal year, (g) non-cash stock based compensation for such Measurement Period;
(h) non-cash foreign currency exchange losses (or minus gains) for such Measurement Period; (i) cost savings projected by the Borrower in good faith to be realized in the first twelve-months after the Closing Date (calculated on a pro
forma basis as though such item had been realized on the first day of such twelve-month period) as a result of actions taken or to be taken in connection with the Transactions, including, without limitation, reductions in work force, supply chain
savings, other operating expense reductions and other operating improvements and synergies, net of the actual savings realized during such period, in each case to the extent not included in any of the other items added back in computing Consolidated
EBITDA provided herein; provided that such cost savings shall only be added back for a period of four (4) consecutive fiscal quarters following the Closing Date; (j) expenses and payments that are covered by indemnification,
reimbursements, guaranty or purchase price adjustment provisions in any agreement entered into by the Borrower or any Subsidiary to the extent such expenses and payments have been reimbursed pursuant to the applicable indemnity, reimbursement,
guaranty or acquisition agreement in such Measurement Period; (k) fees, costs and expenses (including audit fees) related to, or incurred in connection with, the Transactions, in an aggregate amount not to exceed $10,000,000 and (l) fees,
costs and expenses related to, or incurred in connection with, any Permitted Acquisition, issuance of Equity Interests, Investments, issuance of Indebtedness permitted hereunder, repayment of Indebtedness, Disposition (other than in the ordinary
course of business) or discontinued lines of business or operations (other than in the ordinary course of business) in an aggregate amount not to exceed $10,000,000. 
 “Consolidated Funded Indebtedness” means, as of any date of determination, for the Borrower and its Subsidiaries on a Consolidated basis, the sum of (a) the outstanding principal
amount of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (b) all purchase money
Indebtedness, (c) the actual amount drawn under issued and outstanding letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; (d) all obligations in respect
of the deferred purchase price of property (including Earnout Payments but excluding working capital and other similar purchase price adjustments and the portion of the Allos Acquisition purchase price payable upon consummation of Step Two of the
Allos Acquisition) or services (other than trade accounts payable in the ordinary course of business and trade accounts that are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been
provided in accordance with GAAP), (e) all Attributable Indebtedness, (f) all obligations to purchase, redeem, retire, defease or otherwise make any payment prior to the Maturity Date in respect of any Equity Interests or any warrant,
right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; (g) without duplication,
all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (a) through (f) above of Persons other than the Borrower or any Subsidiary, and (h) all Indebtedness of the types referred to in
clauses (a) through (g) above of any partnership or Joint Venture (other than a Joint Venture that is itself a corporation or limited liability company) in which the Borrower or a Subsidiary is a general partner or joint
venturer, unless such Indebtedness is expressly made non-recourse to the Borrower or such Subsidiary. 

  
 9 

 “Consolidated Interest Charges” means, for any Measurement Period,
the sum of (a) all interest, premium payments, debt discount, fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the
extent treated as interest in accordance with GAAP, (b) all interest paid or payable with respect to discontinued operations and (c) the portion of rent expense under Capitalized Leases that is treated as interest in accordance with GAAP,
in each case, of or by the Borrower and its Subsidiaries on a Consolidated basis for the most recently completed Measurement Period. 
 “Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the most recently completed Measurement Period to
(b) Consolidated Interest Charges for the most recently completed Measurement Period. 
 “Consolidated Leverage
Ratio” means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Measurement Period. 

“Consolidated Net Income” means, at any date of determination, the net income (or loss) of the Borrower and its
Subsidiaries on a Consolidated basis for the most recently completed Measurement Period; provided that Consolidated Net Income shall exclude (a) extraordinary gains and extraordinary losses for such Measurement Period, (b) the net
income of any Subsidiary during such Measurement Period to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary of such income is not permitted by operation of the terms of its Organization Documents or
any agreement, instrument or Law applicable to such Subsidiary during such Measurement Period, except that the Borrower’s equity in any net loss of any such Subsidiary for such Measurement Period shall be included in determining Consolidated
Net Income, and (c) any income (or loss) for such Measurement Period of any Person if such Person is not a Subsidiary, except that the Borrower’s equity in the net income of any such Person for such Measurement Period shall be included in
Consolidated Net Income up to the aggregate amount of cash actually distributed by such Person during such Measurement Period to the Borrower or a Subsidiary as a dividend or other distribution (and in the case of a dividend or other distribution to
a Subsidiary, such Subsidiary is not precluded from further distributing such amount to the Borrower as described in clause (b) of this proviso). 
 “Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party
or by which it or any of its property is bound. 
 “Control” means the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings
correlative thereto. 
 “Cost of Acquisition” means, with respect to any Acquisition, as at the date of
entering into any agreement therefor, the sum of the following (without duplication): (a) the value of the Equity Interests of any Subsidiary to be transferred in connection with such Acquisition (but excluding the value of the Equity Interest
of the Borrower to be transferred in connection with such Acquisition), (b) the amount of any cash and fair market value of other property (excluding property described in clause (a) and the unpaid principal amount of any debt
instrument) given as consideration in connection with such Acquisition (other than the cash proceeds received from any equity offering by the Borrower), (c) the amount (determined by using the face amount or the amount payable at maturity,
whichever is greater) of any Indebtedness incurred, assumed or acquired by the Borrower or any Subsidiary in connection with 

  
 10 

 
such Acquisition, (d) Earnout Payments and other contingent obligations that should be recorded on the financial statements of the Borrower and its Subsidiaries in accordance with GAAP in
connection with such Acquisition; provided that working capital and other similar purchase adjustments shall not be included in the Cost of Acquisition, (e) all amounts paid in respect of covenants not to compete, consulting agreements that
should be recorded on the financial statements of the Borrower and its Subsidiaries in accordance with GAAP, and other affiliated contracts in connection with such Acquisition, and (f) the aggregate fair market value of all other consideration
given by the Borrower or any Subsidiary in connection with such Acquisition, as reasonably estimated by the Borrower. For purposes of determining the Cost of Acquisition for any transaction, the Equity Interests of the Borrower shall be valued in
accordance with GAAP. 
 “Credit Extension” means each of the following: (a) a Borrowing and (b) an
L/C Credit Extension. 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other
liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to
time in effect. 
 “Default” means any event or condition that constitutes an Event of Default or that, with
the giving of any notice, the passage of time, or both, would be an Event of Default. 
 “Default Rate” means
(a) with respect to any Obligation for which a rate is specified, a rate per annum equal to two percent (2%) in excess of the rate otherwise applicable thereto and (b) with respect to any Obligation for which a rate is not specified
or available, a rate per annum equal to the Base Rate plus the Applicable Rate for Revolving Loans that are Base Rate Loans plus two percent (2%), in each case, to the fullest extent permitted by applicable Law. 

“Defaulting Lender” means, subject to Section 2.15(b), any Lender that (a) has failed to (i) fund
all or any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such
Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the
Administrative Agent, the L/C Issuer, the Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swingline Loans) within two (2) Business Days
of the date when due, (b) has notified the Borrower, the Administrative Agent, the L/C Issuer or the Swingline Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that
effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition
precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days after written request by the Administrative Agent
or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this
clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief
Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal
Deposit Insurance Corporation or any other 

  
 11 

 
state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity
Interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States
or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the
Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and the effective date of such status, shall be conclusive and binding absent manifest error, and such Lender
shall be deemed to be a Defaulting Lender (subject to Section 2.15(b)) as of the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the
Borrower, the L/C Issuer, the Swingline Lender and each other Lender promptly following such determination. 
 “Deposit
Account” has the meaning set forth in the UCC. 
 “Designated Jurisdiction” means any country or
territory to the extent that such country or territory is the subject of any Sanction. 
 “Disposition” or
“Dispose” means the sale, transfer, license, lease or other disposition (including any Sale and Leaseback Transaction) of any property by any Loan Party or Subsidiary (or the granting of any option or other right to do any of the
foregoing), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith, but excluding any Involuntary Disposition. 

“Dollar” and “$” mean lawful money of the United States. 

“Domestic Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of the United
States. 
 “Earnout Payments” means, with respect to any period, all earnout payments and other forms of
consideration (other than working capital and other similar purchase price adjustments) payable in respect of any Acquisition which payments were contingent as of the date of such Acquisition (and did not constitute a Cost of Acquisition at such
date) but which become due and payable without contingency during such period. 
 “Eligible Assignee” means any
Person that meets the requirements to be an assignee under Section 11.06 (subject to such consents, if any, as may be required under Section 11.06(b)(iii)). 

“Environmental Laws” means any and all federal, state, local, and foreign statutes, laws, regulations, ordinances,
rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any Hazardous Materials into the
environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 
 “Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or
disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the 

  
 12 

 
release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed
with respect to any of the foregoing. 
 “Environmental Permit” means any permit, approval, identification
number, license or other authorization required under any Environmental Law. 
 “Equity Interests” means, with
respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or
acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such
shares, warrants, options, rights or other interests are outstanding on any date of determination. 
 “ERISA”
means the Employee Retirement Income Security Act of 1974. 
 “ERISA Affiliate” means any trade or business
(whether or not incorporated) under common control with the Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the
Code). 
 “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the
withdrawal of the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation
of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in
reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension
Plan; (f) any event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is considered
an at-risk plan or a plan in endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; or (h) the imposition of any liability under Title IV of ERISA, other than for PBGC
premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate. 

“Eurodollar Rate” means: 
 (a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters
(or such other commercially available source providing quotations of BBA LIBOR as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two (2) London Banking Days prior to the commencement
of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period or, (ii) if such rate is not available at such time for any reason, the rate per annum
determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the approximate amount of the Eurodollar Rate Loan being made, continued or converted and
with a term equivalent to such 

  
 13 

 
Interest Period would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time)
two (2) London Banking Days prior to the commencement of such Interest Period; and 
 (b) for any interest
calculation with respect to a Base Rate Loan on any date, the rate per annum equal to (i) BBA LIBOR, at approximately 11:00 a.m., London time determined two (2) London Banking Days prior to such date for Dollar deposits being delivered in
the London interbank market for a term of one (1) month commencing that day or (ii) if such published rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which
deposits in Dollars for delivery on the date of determination in same day funds in the approximate amount of the Base Rate Loan being made or maintained and with a term equal to one (1) month would be offered by Bank of America’s London
Branch to major banks in the London interbank eurodollar market at their request at the date and time of determination. 

“Eurodollar Rate Loan” means a Revolving Loan that bears interest at a rate based on clause (a) of the
definition of “Eurodollar Rate.” 
 “Event of Default” has the meaning specified in
Section 8.01. 
 “Excluded Accounts” has the meaning given to that term in the Security Agreement.

 “Excluded Property” means, with respect to any Loan Party, (a) any lease, license or contract to which
the Borrower or any Subsidiary is a party, or any license, consent, permit, variance, certification, authorization or approval of any Governmental Authority (or any person acting on behalf of a Governmental Authority) of which the Borrower or any
Subsidiary is the owner or beneficiary, or any of its rights or interests thereunder, if and for so long as the grant of a security interest therein shall constitute or result in (i) the abandonment, invalidation or unenforceability of the
right, title or interest of the Borrower or such Subsidiary therein or (ii) a breach or termination pursuant to the terms of, or a default under, such lease, license or contract or such license, consent, permit, variance, certification,
authorization or approval (other than to the extent that any such term would be rendered ineffective pursuant to Section 9-406, 9-407, 9-408 or 9-409 of the UCC or any other applicable law or principles of equity), (b) any equipment or
inventory owned by the Borrower or any Subsidiary on the date hereof or hereafter acquired that is subject to a purchase money Lien or a Lien securing a Capitalized Lease permitted to be incurred hereunder if the contract or other agreement (or the
documentation providing for such purchase money obligation or Capitalized Lease) in which such Lien is granted validly prohibits the creation of any other Lien on such equipment or inventory, (c) the Equity Interests of any Foreign Subsidiary
or any U.S. Foreign Holdco of any Loan Party to the extent not required to be pledged to secure the Secured Obligations pursuant to the Collateral Documents, (d) any property subject to the Biogen Lien, (e) any United States
intent-to-use trademark applications to the extent that, and solely during the period in which the grant of a security interest therein would impair the validity or enforceability of or render void or result in the cancellation of, any registration
issued as a result of such intent-to-use trademark applications under applicable Law; provided that upon submission and acceptance by the USPTO of an amendment to allege pursuant to 15 U.S.C. Section 1060(a) or any successor provision),
such intent-to-use trademark application shall be considered Collateral and (f) the Equity Interests of any Joint Venture. 

“Excluded Subsidiary” means (a) any Foreign Subsidiary or U.S. Foreign Holdco; (b) any Domestic Subsidiary
that is a Subsidiary of a Foreign Subsidiary; (c) any Immaterial Subsidiary and (d) any Subsidiary that is a Joint Venture. 

  
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 “Excluded Taxes” means any of the following Taxes imposed on or with
respect to any Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a
result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are
Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on
the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 11.13) or (ii) such Lender changes its Lending Office, except in
each case to the extent that, pursuant to Section 3.01(a)(ii), (a)(iii) or (c), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or
to such Lender immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(e) and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA.

 “Facility Termination Date” means the date as of which all of the following shall have occurred:
(a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit
(x) that have been Cash Collateralized, or (y) as to which other arrangements with respect thereto reasonably satisfactory to the Administrative Agent and the L/C Issuer shall have been made). 

“FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor
version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof. 
 “FDA” means the United States Food and Drug Administration and any successor thereto. 
 “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System
arranged by federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day
shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day
shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent. 

“Fee Letter” means the letter agreement, dated April 4, 2012, among the Borrower, the Administrative Agent and the
Arranger. 
 “Foreign Government Scheme or Arrangement” has the meaning specified in
Section 5.12(e). 
 “Foreign Lender” means (a) if the Borrower is a U.S. Person, a Lender that
is not a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. For purposes of this

  
 15 

 
definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Plan” has the meaning specified in Section 5.12(e). 

“Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 

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

“Fronting Exposure” means, at any time there is a Defaulting Lender that is a Lender, (a) with respect to the L/C
Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized
in accordance with the terms hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s Applicable Percentage of Swingline Loans other than Swingline Loans as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders in accordance with the terms hereof. 
 “Fund” means any
Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“Funding Indemnity Letter” means a funding indemnity letter, substantially in the form of Exhibit M. 

“GAAP” means generally accepted accounting principles in the United States of America applied on a consistent basis and
subject to the terms of Section 1.03. 
 “Governmental Authority” means the government of the
United States or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing,
regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). The term “Governmental Authority” shall further include any
institutional review board, ethics committee, data monitoring committee, or other committee or entity with defined authority to oversee Regulatory Matters. 
 “Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness of the
kind described in clauses (a) through (g) of the definition thereof or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and
including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or
services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other
financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other
manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing
any Indebtedness of the kind described in clauses (a) through (g) of the definition thereof or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed or expressly undertaken by
such Person 

  
 16 

 
(or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or
determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the
guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guarantors” means the Subsidiaries of the Borrower as are or may from time to time become parties to this Agreement
pursuant to Section 6.14. 
 “Guaranty” means, collectively, the Guaranty made by the Guarantors
under Article X in favor of the Secured Parties, together with each other guaranty delivered pursuant to Section 6.14. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law due to their dangerous or
deleterious properties or characteristics. 
 “Hedge Bank” means any Person in its capacity as a party to a
Swap Contract that, (a) at the time it enters into a Swap Contract not prohibited under Article VII, is a Lender or an Affiliate of a Lender, or (b) at the time it (or its Affiliate) becomes a Lender, is a party to a Swap Contract
not prohibited under Article VII, in each case, in its capacity as a party to such Swap Contract (even if such Person ceases to be a Lender or such Person’s Affiliate ceased to be a Lender); provided, in the case of a Secured
Hedge Agreement with a Person who is no longer a Lender (or Affiliate of a Lender), such Person shall be considered a Hedge Bank only through the stated termination date (without extension or renewal) of such Secured Hedge Agreement and provided
further that for any of the foregoing to be included as a “Secured Hedge Agreement” on any date of determination by the Administrative Agent, the applicable Hedge Bank (other than the Administrative Agent or an Affiliate of the
Administrative Agent) must have delivered a Secured Party Designation Notice to the Administrative Agent prior to such date of determination. 
 “Honor Date” has the meaning set forth in Section 2.03(c). 
 “Immaterial Subsidiary” means, at any date of determination, each Subsidiary of the Borrower that (a) has been designated by the Borrower in writing to the Administrative Agent as an
“Immaterial Subsidiary” for purposes of this Agreement (and not redesignated as a Material Subsidiary as provided below) and (b) together with its Subsidiaries, (i) generates less than 5.0% of Consolidated EBITDA on a Pro Forma
Basis for the Measurement Period most recently ended and (ii) has total assets (including Equity Interests in other Subsidiaries and excluding Investments that are eliminated in consolidation) of less than 5.0% of the total assets of the
Borrower and its Subsidiaries, on a Consolidated basis as of the end of the most recent Measurement Period; provided, however, that (x) at no time shall the Immaterial Subsidiaries under this Agreement collectively
(i) generate more than 10.0% of Consolidated EBITDA on a Pro Forma Basis for the Measurement Period most recently ended or (ii) have total assets (including Equity Interests in other Subsidiaries and excluding Investments that are
eliminated in consolidation) of equal to or greater than 10.0% of the total assets of the Borrower and its Subsidiaries on a Consolidated basis as of the end of the most recent Measurement Period, and (y) if the Consolidated EBITDA or total
assets of all Subsidiaries so designated by the Borrower as “Immaterial Subsidiaries” (and not redesignated as “Material Subsidiaries”) shall at any time exceed the limits set forth in clause (x) above, then all such
Subsidiaries shall be deemed to be Material Subsidiaries unless and until the Borrower shall designate one or more of such Immaterial Subsidiaries as Material Subsidiaries, in each case in written notice to the Administrative Agent, and cause any
such Material Subsidiaries to comply with the 

  
 17 

 
provisions of Section 6.14 such that, after such Material Subsidiaries become Guarantors hereunder, the Immaterial Subsidiaries shall (A) generate less than 10.0% of
Consolidated EBITDA for the Measurement Period most recently ended and (B) have total assets of less than 10.0% of the total assets of the Borrower and its Subsidiaries on a Consolidated basis as of the end of the most recent Measurement
Period. 
 “Indebtedness” means, as to any Person at a particular time, without duplication, all of the
following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations
of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 
 (b) the maximum amount of all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds
and similar instruments; 
 (c) net obligations of such Person under any Swap Contract; 

(d) all obligations (including, without limitation, Earnout Payments but excluding working capital and other similar
purchase price adjustments) of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business and not past due for more than one hundred twenty (120) days after the
date on which such trade account was created unless the same are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP); 

(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such
Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 

(f) all Attributable Indebtedness in respect of Capitalized Leases and Synthetic Lease Obligations of such Person and all
Synthetic Debt of such Person; 
 (g) all obligations of such Person to purchase, redeem, retire, defease or
otherwise make any payment in respect of any Equity Interest in such Person or any other Person or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary
or involuntary liquidation preference plus accrued and unpaid dividends; and 
 (h) all Guarantees of such Person
in respect of any of the foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of
any partnership or Joint Venture (other than a Joint Venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such
Person. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. 

  
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 “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes,
imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 

“Indemnitees” has the meaning specified in Section 11.04(b). 

“Information” has the meaning specified in Section 11.07. 

“Intellectual Property” has the meaning set forth in the Security Agreement. 

“Intercompany Debt” has the meaning specified in Section 7.02. 

“Intercompany Subordination Agreement” means the Intercompany Subordination Agreement dated as of the date hereof
executed by the Borrower, each of its Subsidiaries and the Administrative Agent, substantially in the form of Exhibit P. 

“Interest Payment Date” means, (a) as to any Eurodollar Rate Loan, the last day of each Interest Period applicable
to such Loan and the Maturity Date; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three (3) months, the respective dates that fall every three (3) months after the beginning of such
Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan or Swingline Loan, the last Business Day of each March, June, September and December and the Maturity Date. 

“Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is
disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one (1), two (2), three (3) or six (6) months thereafter, as selected by the Borrower in its Loan Notice; provided that: 

(a) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next
succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

(b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(c) no Interest Period shall extend beyond the Maturity Date. 

“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means
of (a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or interest in, another
Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit or all or a substantial part of the business of, such Person. For purposes of covenant
compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment; provided that the amount of any Investment at any time shall give effect to any
cash return or cash distributions received by the Borrower or any Subsidiary with respect thereto. 

  
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 “Involuntary Disposition” means any loss of, damage to or destruction of,
or any condemnation or other taking for public use of, any property of any Loan Party or any Subsidiary. 

“IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 
 “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the L/C Issuer and the
Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of Credit. 
 “Joinder
Agreement” means a joinder agreement substantially in the form of Exhibit D executed and delivered in accordance with the provisions of Sections 6.14 and 6.15. 

“Joint Venture” means a single-purpose corporation, partnership, limited liability company, joint venture or other
similar legal arrangement (whether created by contract or conducted through a separate legal entity) now or hereafter formed by one Person with another Person in order to conduct a common venture or enterprise with such Person. 

“Laws” means, collectively, all international, foreign, federal, state and local statutes, treaties, rules, guidelines,
regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law and in each case, as to any Person,
applicable to or binding upon such Person or any of its property or Products or to which such Person or any of its property or Products is subject. 
 “L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage. 

“L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been
reimbursed on the date when made or refinanced as a Revolving Borrowing. 
 “L/C Credit Extension” means, with
respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof. 
 “L/C Issuer” means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder. 

“L/C Obligations” means, as at any date of determination, the aggregate amount available to be drawn under all
outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be
determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule
3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

  
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 “Lender” means each of the Persons identified as a “Lender” on
the signature pages hereto, each other Person that becomes a “Lender” in accordance with this Agreement and, their successors and assigns and, unless the context requires otherwise, includes the Swingline Lender. 

“Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such Lender’s
Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent. 
 “Letter of Credit” means any standby letter of credit issued hereunder. 
 “Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer. 

“Letter of Credit Expiration Date” means the day that is seven (7) days prior to the Maturity Date (or, if such day
is not a Business Day, the next preceding Business Day). 
 “Letter of Credit Fee” has the meaning specified in
Section 2.03(h). 
 “Letter of Credit Sublimit” means an amount equal to the lesser of
(a) $10,000,000 and (b) the Aggregate Commitments. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or otherwise), charge, or preference, priority or other security interest
or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property and any
financing lease having substantially the same economic effect as any of the foregoing) (but excluding any licenses to Intellectual Property). 
 “Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Revolving Loan or a Swingline Loan. 

“Loan Documents” means, collectively, (a) this Agreement, (b) the Notes, (c) the Guaranty, (d) the
Collateral Documents, (e) the Fee Letter, (f) each Issuer Document, (g) each Joinder Agreement, (h) the Intercompany Subordination Agreement, and (i) any agreement creating or perfecting rights in Cash Collateral pursuant to
the provisions of Section 2.14 (but specifically excluding any Secured Hedge Agreement or any Secured Cash Management Agreement). 
 “Loan Notice” means a notice of (a) a Borrowing, (b) a conversion of Loans from one Type to the other, or (c) a continuation of Eurodollar Rate Loans, pursuant to
Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit E. 
 “Loan
Parties” means, collectively, the Borrower and each Guarantor. 
 “London Banking Day” means any day
on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market. 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the
operations, business, properties, liabilities (actual or contingent) or financial condition of the Borrower or of the Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the rights

  
 21 

 
and remedies of the Administrative Agent or any Lender under any Loan Document, or of the ability of any Loan Party to perform its payment obligations under any Loan Document to which it is a
party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party. 
 “Material Contract” means, with respect to any Person, each contract or agreement, written or oral, of the Borrower and its Subsidiaries as to which the breach, nonperformance,
cancellation or failure to renew by any party thereto, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 “Material Subsidiary” means, at any date of determination, each Subsidiary of the Borrower that is not an Immaterial Subsidiary (but including, in any case, any Subsidiary that has been
designated as a Material Subsidiary as provided in, or has been designated as an Immaterial Subsidiary in a manner that does not comply with, the definition of “Immaterial Subsidiary”). 

“Maturity Date” means September 5, 2014; provided, however, that, in each case, if such date is not a
Business Day, the Maturity Date shall be the next preceding Business Day. 
 “Measurement Period” means,
at any date of determination, the most recently completed four (4) fiscal quarters of the Borrower (it being understood that if fewer than four (4) consecutive fiscal quarters of the Borrower have been completed since the Closing Date,
financial calculations determined for any such Measurement Period shall be determined on a Pro Forma Basis in accordance with Section 1.03(d)).  
 “Medicaid” means that government-sponsored entitlement program under Title XIX, P.L. 89-97 of the Social Security Act, which provides federal grants to states for medical assistance based
on specific eligibility criteria, as set forth on Section 1396, et seq. of Title 42 of the United States Code. 

“Medicare” means that government-sponsored insurance program under Title XVIII, P.L. 89-97, of the Social Security Act,
which provides for a health insurance system for eligible elderly and disabled individuals, as set forth at Section 1395, et seq. of Title 42 of the United States Code. 
 “Merger Sub” means Sapphire Acquisition Sub, Inc., a Delaware corporation. 
 “Minimum Collateral Amount” means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances provided to reduce or eliminate Fronting Exposure
during any period when a Lender constitutes a Defaulting Lender, an amount equal to105% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time, (b) with respect to Cash Collateral
consisting of cash or deposit account balances provided in accordance with the provisions of Section 2.14(a)(i), (a)(ii), (a)(iii) or (a)(iv), an amount equal to 105% of the Outstanding Amount of all L/C Obligations,
and (c) otherwise, an amount determined by the Administrative Agent and the L/C Issuer in their sole and reasonable discretion. 
 “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 
 “Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower makes or has within the past six (6) years made
or is or has within the past six (6) years been obligated to make contributions, or has or could have any liability (including, without limitation, contingent liability on account of an ERISA Affiliate). 

  
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 “Multiple Employer Plan” means a Plan which has two or more contributing
sponsors (including the Borrower or any ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 
 “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all Lenders or all affected Lenders in accordance
with the terms of Section 11.01 and (b) has been approved by the Required Lenders. 
 “Non-Defaulting
Lender” means, at any time, each Lender that is not a Defaulting Lender at such time. 
 “Note” means
a promissory note made by the Borrower in favor of a Lender evidencing Revolving Loans or Swingline Loans, as the case may be, made by such Lender, substantially in the form of Exhibit G. 

“NPL” means the National Priorities List under CERCLA. 

“Obligations” means (a) all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan
Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit and (b) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and
disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the
commencement by or against any Loan Party or any Affiliate thereof pursuant to any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such
proceeding. 
 “OFAC” means the Office of Foreign Assets Control of the United States Department of the
Treasury. 
 “Organization Documents” means, (a) with respect to any corporation, the certificate or
articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization
and operating agreement or limited liability company agreement (or equivalent or comparable documents with respect to any non-U.S. jurisdiction); (c) with respect to any partnership, Joint Venture, trust or other form of business entity, the
partnership, Joint Venture or other applicable agreement of formation or organization (or equivalent or comparable documents with respect to any non-U.S. jurisdiction) and (d) with respect to all entities, any agreement, instrument, filing or
notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization (or equivalent or comparable documents with respect to any non-U.S.
jurisdiction). 
 “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a
present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under,
received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

  
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 “Other Taxes” means all present or future stamp, court or documentary,
intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect
to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 3.06). 

“Outstanding Amount” means (a) with respect to Revolving Loans and Swingline Loans on any date, the aggregate
outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Revolving Loans and Swingline Loans, as the case may be, occurring on such date; and (b) with respect to any L/C Obligations on any
date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any
reimbursements by the Borrower of Unreimbursed Amounts. 
 “Participant” has the meaning specified in
Section 11.06(d). 
 “Participant Register” has the meaning specified in
Section 11.06(d). 
 “PBGC” means the Pension Benefit Guaranty Corporation. 

“Permits” means, with respect to any Person, any permit, approval, clearance, authorization, license, registration,
certificate, concession, grant, franchise, variance or permission from, and any other Contractual Obligations with, any Governmental Authority, in each case whether or not having the force of law and applicable to or binding upon such Person or any
of its property or Products or to which such Person or any of its property or Products is subject, including without limitation all Registrations. 
 “Pension Act” means the Pension Protection Act of 2006. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any
installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act
and, thereafter, Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 

“Pension Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that
is or has within the past six (6) years been maintained or contributed to by the Borrower or with respect to which the Borrower has or could have any liability (including, without limitation, contingent liability on account of an ERISA
Affiliate) and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code. 
 “Permitted Acquisition” shall mean an Acquisition by a Loan Party (such Person or division, line of business or other business unit of such Person shall be referred to herein as the
“Target”), in each case that is a type of business (or assets used in a type of business) permitted to be engaged in by the Borrower and its Subsidiaries pursuant to the terms of this Agreement, in each case so long as: 

(a) no Default shall then exist or would exist after giving effect thereto; 

(b) the Loan Parties shall demonstrate to the reasonable satisfaction of the Administrative Agent that, after giving
effect to the Acquisition on a Pro Forma Basis, (i) the Loan Parties are in compliance with each of the financial covenants set forth in Section 7.11 and 

  
 24 

 
(ii) the Consolidated Leverage Ratio shall be 0.25 to 1.0 less than the then applicable level set forth in Section 7.11; 

(c) the Administrative Agent, on behalf of the Secured Parties, shall have received (or shall receive within ten
(10) days after the closing of such Acquisition) a first priority perfected security interest (subject to Permitted Liens) in all property (including, without limitation, Equity Interests) (other than Excluded Property and property with respect
to which perfection action is not required under the Collateral Documents) acquired with respect to the Target in accordance with the terms of Section 6.15 and the Target, if a Person, shall have executed a Joinder Agreement in
accordance with the terms of Section 6.14; 
 (d) the Administrative Agent and the Lenders shall have
received (i) a description of the material terms of such Acquisition, (ii) audited financial statements (or, if unavailable, management-prepared financial statements) of the Target for its three most recent fiscal years and for any fiscal
quarters ended within the fiscal year to date, (iii) Consolidated projected income statements of the Borrower and its Subsidiaries (giving effect to such Acquisition), and (iv) not less than fifteen (15) days (or such shorter period
as approved by the Administrative Agent in its sole discretion) prior to the consummation of any Permitted Acquisition with a Cost of Acquisition in excess of $10,000,000, a certificate substantially in the form of Exhibit F, executed by a
Responsible Officer of the Borrower certifying that such Permitted Acquisition complies with the requirements of this Agreement; 
 (e) such Acquisition shall not be a “hostile” Acquisition and shall have been approved by the board of directors (or equivalent) and/or shareholders (or equivalent) of the applicable Loan Party
and the Target; and 
 (f) the Cost of Acquisition paid by the Loan Parties and their Subsidiaries for all
Acquisitions made during the term of this Agreement shall not exceed $75,000,000; provided further that any Earnout Payments of any Loan Party in connection with such Acquisition shall be subordinated to the Obligations in a manner and
to the extent reasonably satisfactory to the Administrative Agent. 
 “Permitted Transfers” means
(a) Dispositions of inventory in the ordinary course of business (including such Dispositions of inventory from a Loan Party to a Foreign Subsidiary); (b) Dispositions of property to the Borrower or any Subsidiary; provided, that if
the transferor of such property is a Loan Party then the transferee thereof must be a Loan Party or, if not a Loan Party, the amount of such transfer, together with all other transfers occurring in any fiscal year, shall not exceed $5,000,000 in the
aggregate; (c) Dispositions of accounts receivable in connection with the collection or compromise thereof; (d) licenses, sublicenses, leases or subleases granted to others not interfering in any material respect with the business of the
Borrower and its Subsidiaries; and (e) the sale or disposition of Cash Equivalents for fair market value. 

“Person” means any natural person, corporation, limited liability company, trust, Joint Venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any employee benefit plan within the
meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees of the Borrower or any Subsidiary or any such Plan to which the Borrower or any Subsidiary is required to contribute on behalf of any of its employees.

 “Platform” has the meaning specified in Section 6.02. 

  
 25 

 “Pledged Equity” has the meaning specified in the Security Agreement.

 “Pro Forma Basis” and “Pro Forma Effect” means, for any Disposition of all or substantially
all of a line of business or for any Acquisition (including the Allos Acquisition), whether actual or proposed, for purposes of determining compliance with the financial covenants set forth in Section 7.11, each such transaction or
proposed transaction shall be deemed to have occurred on and as of the first day of the relevant Measurement Period, and the following pro forma adjustments shall be made: 

(a) in the case of an actual or proposed Disposition of all or substantially all of a line of business, all income
statement items (whether positive or negative) attributable to the line of business or the Person subject to such Disposition shall be excluded from the results of the Borrower and its Subsidiaries for such Measurement Period; 

(b) in the case of an actual or proposed Acquisition, income statement items (whether positive or negative) attributable
to the property, line of business or the Person subject to such Acquisition shall be included in the results of the Borrower and its Subsidiaries for such Measurement Period; 

(c) interest accrued during the relevant Measurement Period on, and the principal of, any Indebtedness repaid or to be
repaid or refinanced in such transaction shall be excluded from the results of the Borrower and its Subsidiaries for such Measurement Period; and 
 (d) any Indebtedness actually or proposed to be incurred or assumed in such transaction shall be deemed to have been incurred as of the first day of the applicable Measurement Period, and interest thereon
shall be deemed to have accrued from such day on such Indebtedness at the applicable rates provided therefor (and in the case of interest that does or would accrue at a formula or floating rate, at the rate in effect at the time of determination)
and shall be included in the results of the Borrower and its Subsidiaries for such Measurement Period. 
 “Pro Forma
Compliance” means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recent Measurement Period for which
financial statements have been delivered to the Administrative Agent pursuant to Section 6.01 to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect hereunder that
have occurred on or after the first day of the relevant Measurement Period. 
 “Products” means any item or any
service that is designed, created, manufactured, managed, performed, or otherwise used, offered, or handled by or on behalf of the Loan Parties or any of their Subsidiaries. 
 “Public Health Laws” means all applicable Laws relating to the procurement, development, manufacture, production, analysis, distribution, dispensing, importation, exportation, use,
handling, quality, sale, or promotion of any drug, medical device, food, dietary supplement, or other product (including, without limitation, any ingredient or component of the foregoing products) subject to regulation under the Federal Food, Drug,
and Cosmetic Act (21 U.S.C. et seq.) and similar state laws, controlled substances laws, pharmacy laws, or consumer product safety laws. 
 “Public Lender” has the meaning specified in Section 6.02. 

  
 26 

 “Qualifying Control Agreement” shall mean an agreement, among a Loan
Party, a depository institution or securities intermediary and the Administrative Agent, which agreement is in form and substance reasonably acceptable to the Administrative Agent and which provides the Administrative Agent with “control”
(as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described therein. 

“Recipient” means the Administrative Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made
by or on account of any obligation of any Loan Party hereunder. 
 “Register” has the meaning specified in
Section 11.06(c). 
 “Registrations” means all Permits and exemptions issued or allowed by any
Governmental Authority (including but not limited to new drug applications, abbreviated new drug applications, biologics license applications, investigational new drug applications, over-the-counter drug monograph, device pre-market approval
applications, device pre-market notifications, investigational device exemptions, product recertifications, manufacturing approvals and authorizations, CE Marks, pricing and reimbursement approvals, labeling approvals or their foreign equivalent,
controlled substance registrations, and wholesale distributor permits) held by, or applied by contract to, any Loan Party or any of its Subsidiaries, that are required for the research, development, manufacture, distribution, marketing, storage,
transportation, use and sale of the Products of any Loan Party or any of its Subsidiaries. 
 “Regulatory
Matters” means, collectively, activities and Products that are subject to Public Health Laws. 
 “Related
Indemnitee” means, with respect to any Indemnitee, (a) any Controlling Person or Controlled Affiliate of such Indemnitee, (b) the respective directors, officers, or employees of such Indemnitee or any of its Controlling Persons or
Controlled Affiliates and (c) the respective agents of such Indemnitee or any of its Controlling Persons or Controlled Affiliates, in the case of this clause (c), acting at the instructions of such Indemnitee, Controlling Person or
Controlled Affiliate; provided that each reference to a Controlling Person or Controlled Affiliate in this definition pertains to a Controlling Person or Controlled Affiliate involved in the negotiation of the Loan Documents. 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors,
officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. 
 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the thirty (30) day notice period has been waived. 

“Request for Credit Extension” means (a) with respect to a Borrowing, conversion or continuation of Revolving
Loans, a Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swingline Loan, a Swingline Loan Notice. 
 “Required Lenders” means (a) at any time there is only one Lender, the sole Lender, (b) at any time there are only two Lenders who are not Affiliates of each other, both
Lenders, unless a Lender is a Defaulting Lender, in which case such Defaulting Lender shall be disregarded in determining Required Lenders, (c) at any time there are only three Lenders who are not Affiliates of each other, at least two such
Lenders having Total Credit Exposures representing more than sixty six and two-thirds percent (66-2/3%) of the Total Credit Exposures of all Lenders, and (d) at any time there are more than three Lenders who are not Affiliates of each other,
such Lenders having Total Credit Exposures representing more than 

  
 27 

 
fifty percent (50%) of the Total Credit Exposures of all Lenders. The Total Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders at any time;
provided that, the amount of any participation in any Swingline Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the
Lender that is the Swingline Lender or L/C Issuer, as the case may be, in making such determination. 
 “Responsible
Officer” means the chief executive officer, president, chief financial officer, treasurer, assistant treasurer or controller of a Loan Party, solely for purposes of the delivery of incumbency certificates pursuant to
Section 4.01, the secretary or any assistant secretary of a Loan Party and, solely for purposes of notices given pursuant to Article II, any other officer or employee of the applicable Loan Party so designated by any of the
foregoing officers in a notice to the Administrative Agent. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership
and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. To the extent requested by the Administrative Agent, each Responsible Officer will provide an
incumbency certificate, in form and substance satisfactory to the Administrative Agent. To the extent any Loan Party has appointed the Borrower as its agent for purposes of giving and receiving notices, and consenting to amendments and waivers, a
Responsible Officer of the Borrower, acting in such capacity, shall also be a Responsible Officer of such Loan Party. 

“Restricted Payment” means (a) any dividend or other distribution, direct or indirect, on account of any shares (or
equivalent) of any class of Equity Interests of the Borrower or any of its Subsidiaries, now or hereafter outstanding, (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect,
of any shares (or equivalent) of any class of Equity Interests of the Borrower or any of its Subsidiaries, now or hereafter outstanding, (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other
rights to acquire shares of any class of Equity Interests of any Loan Party or any of its Subsidiaries, now or hereafter outstanding, and (d) any Earnout Payment. 
 “Revolving Borrowing” means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each
of the Lenders pursuant to Section 2.01. 
 “Revolving Exposure” means, as to any Lender at any
time, the aggregate principal amount at such time of its outstanding Revolving Loans and such Lender’s participation in L/C Obligations and Swingline Loans at such time. 
 “Revolving Loan” has the meaning specified in Section 2.01. 
 “Sanction(s)” means any international economic sanction administered or enforced by the United States Government (including, without limitation, OFAC), the United Nations Security
Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority. 
 “S&P”
means Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc., and any successor thereto. 
 “Sale and Leaseback Transaction” means, with respect to any Loan Party or any Subsidiary, any arrangement, directly or indirectly, with any Person whereby such Loan Party or such
Subsidiary shall sell or transfer any property used or useful in its business, whether now owned or hereafter acquired, and 

  
 28 

 
thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or purposes as the property being sold or transferred. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Secured Cash Management Agreement” means any Cash Management Agreement between the any Loan
Party and any of its Subsidiaries and any Cash Management Bank. 
 “Secured Hedge Agreement” means any interest
rate, currency, foreign exchange, or commodity Swap Contract permitted under Article VII between any Loan Party and any of its Subsidiaries and any Hedge Bank. 
 “Secured Obligations” means (a) all Obligations, (b) all obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements and (c) without
duplication, all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption),
absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws
naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 
 “Secured Parties” means, collectively, the Administrative Agent, the Lenders, the L/C Issuer, the Hedge Banks, the Cash Management Banks, the Indemnitees, each co-agent or sub-agent
appointed by the Administrative Agent from time to time pursuant to Section 9.05. 
 “Secured Party
Designation Notice” shall mean a notice from any Lender or an Affiliate of a Lender substantially in the form of Exhibit H. 
 “Securities Act” means the Securities Act of 1933, including all amendments thereto and regulations promulgated thereunder. 

“Security Agreement” means the security and pledge agreement, dated as of the Closing Date, executed in favor of the
Administrative Agent by each of the Loan Parties. 
 “Solvency Certificate” means a solvency certificate in
substantially in the form of Exhibit I. 
 “Solvent” and “Solvency” mean, with
respect to any Person on any date of determination, that on such date, such Person (a) has property with fair value greater than the total amount of its debts and liabilities, contingent (it being understood that the amount of contingent
liabilities at any time shall be computed as the amount that, in light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability), subordinated or
otherwise, (b) has assets with present fair saleable value not less than the amount that will be required to pay its liability on its debts as they become absolute and matured, (c) does not intend to, and does not believe that it will,
incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature, (d) will be able to pay its debts and liabilities, contingent, subordinated or otherwise, as they become absolute and matured, and
(e) is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute an unreasonably small capital. 

  
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 “Specified Acquisition Representations” means the representations and
warranties made by or on behalf of, or with respect to, Allos and/or its Subsidiaries in the Allos Acquisition Agreement as are material to the interests of the Lenders, but only to the extent that the Borrower has the right to terminate its
obligations under the Allos Acquisition Agreement as a result of a breach of such representation and warranty in the Allos Acquisition Agreement. 
 “Step One of the Allos Acquisition” means, with respect to the Allos Acquisition, the satisfaction (or, to the extent permitted hereunder, waiver) of the Offer Conditions and the
occurrence of the Acceptance Time (as each such capitalized term is defined in the Allos Acquisition Agreement). 

“Step Two of the Allos Acquisition” means, with respect to the Allos Acquisition, the Merger (as defined in the Allos
Acquisition Agreement). 
 “Subsidiary” of a Person means a corporation, partnership, Joint Venture, limited
liability company or other business entity of which a majority of the shares of Voting Stock is at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both,
by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower. 

“Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward
rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions,
interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar
transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any
kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master
Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of
any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s),
and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations
provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Swingline Borrowing” means a borrowing of a Swingline Loan pursuant to Section 2.04. 

“Swingline Lender” means Bank of America in its capacity as provider of Swingline Loans, or any successor swingline
lender hereunder. 
 “Swingline Loan” has the meaning specified in Section 2.04(a). 

  
 30 

 “Swingline Loan Notice” means a notice of a Swingline Borrowing pursuant to
Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit J. 

“Swingline Sublimit” means an amount equal to the lesser of (a) $10,000,000 and (b) the Aggregate Commitments.
The Swingline Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 “Synthetic Debt”
means, with respect to any Person as of any date of determination thereof, all obligations of such Person in respect of transactions entered into by such Person that are intended to function primarily as a borrowing of funds but are not otherwise
included in the definition of “Indebtedness” or as a liability on the Consolidated balance sheet of such Person and its Subsidiaries in accordance with GAAP. 
 “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use
or possession of property (including Sale and Leaseback Transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person, would be
characterized as the indebtedness of such Person (without regard to accounting treatment). 
 “Target” has the
meaning specified in the definition of “Permitted Acquisition”. 
 “Taxes” means all present or
future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

 “Threshold Amount” means $10,000,000. 

“Total Credit Exposure” means, as to any Lender at any time, the unused Commitments and Revolving Exposure of such
Lender at such time. 
 “Total Outstandings” means the aggregate Outstanding Amount of all Revolving Loans,
Swingline Loans and L/C Obligations. 
 “Transaction” means, collectively, (a) the entering into by the
Loan Parties of the Acquisition Documents and the Loan Documents to which they are or are intended to be a party, (b) the consummation of the Allos Acquisition, (c) the funding of the initial Borrowing on the Closing Date, (d) the
repayment of existing Indebtedness pursuant to Section 4.01(k), and (e) the payment of fees and expenses incurred in connection with any of the foregoing. 
 “Type” means, with respect to a Loan, its character as a Base Rate Loan or a Eurodollar Rate Loan. 
 “UCC” means the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection or the effect of perfection or non-perfection or the priority of any
security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect from time to time in such other
jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority. 

  
 31 

 “UCP” means, with respect to any Letter of Credit, the Uniform Customs and
Practice for Documentary Credits, International Chamber of Commerce (“ICC”) Publication No. 600 (or such later version thereof as may be in effect at the time of issuance). 

“United States” and “U.S.” mean the United States of America. 

“Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i). 

“U.S. Foreign Holdco” means any Subsidiary of the Borrower organized under the laws of a State of the United States or
the District of Columbia that is a holding company and whose assets consist solely of stock or other equity of one or more Foreign Subsidiaries. 
 “U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code. 

“U.S. Tax Compliance Certificate” has the meaning specified in Section 3.01(e)(ii)(B)(3). 

“USA PATRIOT Act” means The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001 (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended or modified from time to time. 
 “Voting Stock” means, with respect to any Person, Equity Interests issued by such Person the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the
election of directors (or persons performing similar functions) of such Person, even though the right to so vote has been suspended by the happening of such contingency. 

 

	1.02	Other Interpretive Provisions. 

 With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 

(a) The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without
limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument or other
document (including the Loan Documents and any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, modified, extended, restated, replaced or supplemented from time to
time (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns,
(iii) the words “hereto,” “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any
particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Preliminary Statements, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Preliminary Statements, Exhibits and
Schedules to, the Loan Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or
regulation shall, unless otherwise specified, 

  
 32 

 
refer to such law or regulation as amended, modified, extended, restated, replaced or supplemented from time to time, and (vi) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

(b) In the computation of periods of time from a specified date to a later specified date, the word “from” means
“from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.” 

(c) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not
affect the interpretation of this Agreement or any other Loan Document. 
  

	1.03	Accounting Terms. 

 (a) Generally. All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial
calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited
Financial Statements, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of
the Borrower and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded. 

(b) Changes in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or
requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the
original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such
change therein and (ii) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between
calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Without limiting the foregoing, leases shall continue to be classified and accounted for on a basis consistent with that reflected in the Audited
Financial Statements for all purposes of this Agreement, notwithstanding any change in GAAP relating thereto, unless the parties hereto shall enter into a mutually acceptable amendment addressing such changes, as provided for above. 

(c) Consolidation of Variable Interest Entities. All references herein to Consolidated financial statements of the
Borrower and its Subsidiaries or to the determination of any amount for the Borrower and its Subsidiaries on a Consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Borrower is
required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein. 

  
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 (d) Pro Forma Treatment. Each Disposition of all or substantially all
of a line of business, and each Acquisition (including the Allos Acquisition), by the Borrower and its Subsidiaries that is consummated during any Measurement Period shall, for purposes of determining compliance with the financial covenants set
forth in Section 7.11 and for purposes of determining the Applicable Rate, be given Pro Forma Effect as of the first day of such Measurement Period. 
  

	1.04	Rounding. 

 Any
financial ratios required to be maintained by the Borrower pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such
ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
  

	1.05	Times of Day. 

Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as
applicable). 
  

	1.06	Letter of Credit Amounts. 

 Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however,
that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be
the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 
 ARTICLE II 
 COMMITMENTS AND CREDIT EXTENSIONS 

 

	2.01	Loans. 

 Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrower, in Dollars, from time to time, on
any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided, however, that after giving effect to any Revolving Borrowing,
(a) the Total Outstandings shall not exceed the Aggregate Commitments, and (b) the Revolving Exposure of any Lender shall not exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the
other terms and conditions hereof, the Borrower may borrow Revolving Loans, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided
herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter
not less than three (3) Business Days prior to the date of such Revolving Borrowing. 

  
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	2.02	Borrowings, Conversions and Continuations of Loans. 

 (a) Notice of Borrowing. Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable
notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 12:00 noon (i) three (3) Business Days prior to the requested date of any Borrowing of,
conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans. Each telephonic notice by the Borrower pursuant to this
Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of
Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be
in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall substantially be in form of Exhibit E and shall specify (A) whether the Borrower is requesting a
Borrowing, a conversion of Loans from one Type to the other, or a continuation of Loans, as the case may be, (B) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (C) the
principal amount of Loans to be borrowed, converted or continued, (D) the Type of Loans to be borrowed or to which existing Loans are to be converted, and (E) if applicable, the duration of the Interest Period with respect thereto. If the
Borrower fails to specify a Type of Loan in a Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any such automatic
conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar
Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month. Notwithstanding anything to the contrary herein, a Swingline Loan may not be converted to a
Eurodollar Rate Loan. 
 (b) Advances. Following receipt of a Loan Notice, the Administrative Agent shall
promptly notify each Lender of the amount of its Applicable Percentage of the applicable Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of
any automatic conversion to Base Rate Loans described in Section 2.02(a). In the case of a Borrowing, each Lender shall make the amount of its Loan available to the Administrative Agent in immediately available funds at the
Administrative Agent’s Office not later than 2:00 p.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial
Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the
books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided,
however, that if, on the date a Loan Notice with respect to a Revolving Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds of such Revolving Borrowing, first, shall be applied to the payment in
full of any such L/C Borrowings, and second, shall be made available to the Borrower as provided above. 

  
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 (c) Eurodollar Rate Loans. Except as otherwise provided herein, a
Eurodollar Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurodollar Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without
the consent of the Required Lenders. During the existence of an Event of Default, the Required Lenders may demand that any or all of the outstanding Eurodollar Rate Loans be converted immediately to Base Rate Loans. 

(d) Notice of Interest Rates. The Administrative Agent shall promptly notify the Borrower and the Lenders of the
interest rate applicable to any Interest Period for Eurodollar Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in
Bank of America’s prime rate used in determining the Base Rate promptly following the public announcement of such change. 
 (e) Interest Periods. After giving effect to all Revolving Borrowings, all conversions of Revolving Loans from one Type to the other, and all continuations of Revolving Loans as the same Type,
there shall not be more than ten Interest Periods in effect. 
  

	2.03	Letters of Credit. 

 (a) The Letter of Credit Commitment. 
 (i) Subject to the
terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the Lenders set forth in this Section, (1) from time to time on any Business Day during the period from the Closing Date until the Letter
of Credit Expiration Date, to issue Letters of Credit in Dollars for the account of the Borrower or any of its Subsidiaries, and to amend or extend Letters of Credit previously issued by it, in accordance with Section 2.03(b), and
(2) to honor drawings under the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of the Borrower or its Subsidiaries and any drawings thereunder; provided that after
giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Outstandings shall not exceed the Aggregate Commitments, (y) the Revolving Exposure of any Lender shall not exceed such Lender’s Commitment,
and (z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that
the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of
Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. 

(ii) The L/C Issuer shall not issue any Letter of Credit if: 

(A) subject to Section 2.03(b)(iv), the expiry date of the requested Letter of Credit would occur more than
twelve (12) months after the date of issuance or last extension, unless the Required Lenders have approved such expiry date; or 

  
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 (B) the expiry date of the requested Letter of Credit would occur after the
Letter of Credit Expiration Date, unless all the Lenders have approved such expiry date. 
 (iii) The L/C Issuer
shall not be under any obligation to issue any Letter of Credit if: 
 (A) any order, judgment or decree of any
Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing the Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from
any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon the L/C Issuer with
respect to the Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or
expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it; 
 (B) the issuance of the Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of credit generally; 

(C) except as otherwise agreed by the Administrative Agent and the L/C Issuer, the Letter of Credit is in an initial
stated amount less than $500,000; 
 (D) the Letter of Credit is to be denominated in a currency other than
Dollars; or 
 (E) any Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into
arrangements, including the delivery of Cash Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving effect to
Section 2.15(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which the L/C Issuer has actual or potential
Fronting Exposure, as it may elect in its sole discretion. 
 (iv) The L/C Issuer shall not amend any Letter of
Credit if the L/C Issuer would not be permitted at such time to issue the Letter of Credit in its amended form under the terms hereof. 
 (v) The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) the L/C Issuer would have no obligation at such time to issue such Letter of Credit in its amended form under the
terms hereof, or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to the Letter of Credit. 
 (vi) The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and
immunities (A) provided to the Administrative Agent in 

  
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Article IX with respect to any acts taken or omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents
pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX included the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to
the L/C Issuer. 
 (b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
Credit. 
 (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the
Borrower delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application may be sent
by fax transmission, by United States mail, by overnight courier, by electronic transmission using the system provided by the L/C Issuer, by personal delivery or by any other means acceptable to the L/C Issuer. Such Letter of Credit Application must
be received by the L/C Issuer and the Administrative Agent not later than 12:00 noon at least two (2) Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their sole
discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably
satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary
thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature
of the requested Letter of Credit; and (H) such other matters as the L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and
detail reasonably satisfactory to the L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other
matters as the L/C Issuer may reasonably require. Additionally, the Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment,
including any Issuer Documents, as the L/C Issuer or the Administrative Agent may reasonably require. 
 (ii)
Promptly after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the
Borrower and, if not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from any Lender, the Administrative Agent or any Loan Party, at least one (1) Business Day prior
to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer
shall, on the requested date, issue a Letter of Credit for the account of the Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and
customary business practices. Immediately upon the issuance 

  
 38 

 
of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an
amount equal to the product of such Lender’s Applicable Percentage times the amount of such Letter of Credit. 
 (iii) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to
the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. 
 (iv)
If the Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole discretion, agree to issue a standby Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of
Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve (12) month period (commencing with the date of issuance of such Letter of
Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve (12) month period to be agreed upon at the time such Letter of Credit is issued. Unless
otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized
(but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the L/C Issuer shall not permit any such
extension if (A) the L/C Issuer has determined that it would not be permitted, or would have no obligation at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of
clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven (7) Business Days before the
Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Lender or the Borrower that one or more of the applicable conditions
specified in Section 4.02 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension. 
 (c) Drawings and Reimbursements; Funding of Participations. 

(i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the
L/C Issuer shall notify the Borrower and the Administrative Agent thereof. Not later than 12:00 noon on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the Borrower shall
reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor
Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof. In such event, the Borrower shall be deemed to have requested a Revolving Borrowing of
Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount
of the unutilized portion of the Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Loan Notice). Any 

  
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notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the
lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 

(ii) Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available (and the
Administrative Agent may apply Cash Collateral provided for this purpose) for the account of the L/C Issuer at the Administrative Agent’s Office in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m.
on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the
Borrower in such amount. The Administrative Agent shall remit the funds so received to the L/C Issuer. 
 (iii)
With respect to any Unreimbursed Amount that is not fully refinanced by a Revolving Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be deemed
to have incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In
such event, each Lender’s payment to the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an
L/C Advance from such Lender in satisfaction of its participation obligation under this Section. 
 (iv) Until
each Lender funds its Revolving Loan or L/C Advance pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such
amount shall be solely for the account of the L/C Issuer. 
 (v) Each Lender’s obligation to make Revolving
Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including
(A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default; or (C) any
other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Revolving Loans pursuant to this Section 2.03(c) is subject to the
conditions set forth in Section 4.02 (other than delivery by the Borrower of a Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the L/C Issuer for the amount of
any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 
 (vi)
If any Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in
Section 2.03(c)(ii), then, without limiting the other provisions of this Agreement, the L/C Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for
the period from the date such payment is 

  
 40 

 
required to the date on which such payment is immediately available to the L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the L/C Issuer in
accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as
aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant Revolving Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to
any Lender (through the Administrative Agent) with respect to any amounts owing under this Section 2.03(c)(vi) shall be conclusive absent manifest error. 

(d) Repayment of Participations. 

(i) At any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Lender such
Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon
(whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Applicable Percentage thereof in the same funds as
those received by the Administrative Agent. 
 (ii) If any payment received by the Administrative Agent for the
account of the L/C Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the L/C Issuer in its
discretion), each Lender shall pay to the Administrative Agent for the account of the L/C Issuer its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is
returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders under this clause shall survive the occurrence of the Facility Termination Date and the termination of this
Agreement. 
 (e) Obligations Absolute. The obligation of the Borrower to reimburse the L/C Issuer for
each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

 (i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan
Document; 
 (ii) the existence of any claim, counterclaim, setoff, defense or other right that any Subsidiary
may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement
or by such Letter of Credit, the transactions contemplated hereby or any agreement or instrument relating thereto, or any unrelated transaction; 
 (iii) any draft, demand, endorsement, certificate or other document presented under or in connection with such Letter of Credit proving to be forged, fraudulent, invalid

  
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or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make
a drawing under such Letter of Credit; 
 (iv) waiver by the L/C Issuer of any requirement that exists for the
L/C Issuer’s protection and not the protection of the Borrower or any waiver by the L/C Issuer which does not in fact materially prejudice the Borrower; 
 (v) honor of a demand for payment presented electronically even if such Letter of Credit requires that demand be in the form of a draft; 

(vi) any payment made by the L/C Issuer in respect of an otherwise complying item presented after the date specified as
the expiration date of, or the date by which documents must be received under such Letter of Credit if presentation after such date is authorized by the UCC, the ISP or the UCP, as applicable; 

(vii) any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does
not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors,
liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or 

(viii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any of its Subsidiaries. 
 The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions
or other irregularity, the Borrower will immediately notify the L/C Issuer. The Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid. 

(f) Role of L/C Issuer. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit,
the L/C Issuer shall not have any responsibility to obtain any document (other than any sight or time draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such
document or the authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be
liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence
or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. The Borrower hereby assumes all risks of the acts or omissions of any
beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against
the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of

  
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the L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through (viii) of Section 2.03(e); provided,
however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the L/C Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed
to consequential or exemplary, damages suffered by the Borrower which the Borrower proves, as determined by a final nonappealable judgment of a court of competent jurisdiction, were caused by the L/C Issuer’s willful misconduct or gross
negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight or time draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit.
In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the
L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring, endorsing or assigning or purporting to transfer, endorse or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in
whole or in part, which may prove to be invalid or ineffective for any reason. The L/C Issuer may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication
(“SWIFT”) message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary. 
 (g) Applicability of ISP and UCP; Limitation of Liability. Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued, the rules of the ISP shall apply
to each standby Letter of Credit. Notwithstanding the foregoing, the L/C Issuer shall not be responsible to the Borrower for, and the L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the
L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where the L/C Issuer or the beneficiary is
located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services
Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice. 
 (h) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance, subject to Section 2.15, with its Applicable Percentage a
Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available
to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit Fees shall be (A) due and payable on the first Business Day after the end of each
March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (B) computed on a quarterly basis in arrears. If
there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect. 
 (i) Fronting Fee and Documentary and Processing Charges Payable to L/C
Issuer. The Borrower shall pay directly to the L/C Issuer for its own account a fronting fee with respect to each Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the daily

  
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amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the tenth (10th) Business Day after the end of each
March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the
Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. In addition, the Borrower shall pay directly to the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer as from
time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 
 (j) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof shall control. 

(k) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding
hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that
the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. 

 

	2.04	Swingline Loans. 

 (a) The Swingline. Subject to the terms and conditions set forth herein, the Swingline Lender, in reliance upon the agreements of the other Lenders set forth in this Section, shall make loans (each
such loan, a “Swingline Loan”). Each such Swingline Loan may be made, subject to the terms and conditions set forth herein, to the Borrower, in Dollars, from time to time on any Business Day. During the Availability Period in an
aggregate amount not to exceed at any time outstanding the amount of the Swingline Sublimit, notwithstanding the fact that such Swingline Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Revolving Loans and L/C
Obligations of the Lender acting as Swingline Lender, may exceed the amount of such Lender’s Commitment; provided, however, that (i) after giving effect to any Swingline Loan, (A) the Total Outstandings shall not exceed
the Aggregate Commitments at such time, and (B) the Revolving Exposure of any Lender at such time shall not exceed such Lender’s Commitment, (ii) the Borrower shall not use the proceeds of any Swingline Loan to refinance any
outstanding Swingline Loan, and (iii) the Swingline Lender shall not be under any obligation to make any Swingline Loan if it shall determine (which determination shall be conclusive and binding absent manifest error) that it has, or by such
Credit Extension may have, Fronting Exposure. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section, prepay under Section 2.05, and reborrow under this Section. Each
Swingline Loan shall bear interest only at a rate based on the Base Rate. Immediately upon the making of a Swingline Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swingline Lender a
risk participation in such Swingline Loan in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Swingline Loan. 
 (b) Borrowing Procedures. Each Swingline Borrowing shall be made upon the Borrower’s irrevocable notice to the Swingline Lender and the Administrative Agent, which may be given by telephone.
Each such notice must be received by the Swingline Lender and the 

  
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Administrative Agent not later than 2:00 p.m. on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $250,000, and (ii) the
requested date of the Borrowing (which shall be a Business Day). Each such telephonic notice must be confirmed promptly by delivery to the Swingline Lender and the Administrative Agent of a written Swingline Loan Notice, appropriately completed and
signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swingline Lender of any telephonic Swingline Loan Notice, the Swingline Lender will confirm with the Administrative Agent (by telephone or in writing) that the
Administrative Agent has also received such Swingline Loan Notice and, if not, the Swingline Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swingline Lender has received notice (by
telephone or in writing) from the Administrative Agent (including at the request of any Lender) prior to 3:00 p.m. on the date of the proposed Swingline Borrowing (A) directing the Swingline Lender not to make such Swingline Loan as a result of
the limitations set forth in the first proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and
conditions hereof, the Swingline Lender will, not later than 3:00 p.m. on the borrowing date specified in such Swingline Loan Notice, make the amount of its Swingline Loan available to the Borrower at its office by crediting the account of the
Borrower on the books of the Swingline Lender in immediately available funds. 
 (c) Refinancing of Swingline
Loans. 
 (i) The Swingline Lender at any time in its sole discretion may request, on behalf of the Borrower
(which hereby irrevocably authorizes the Swingline Lender to so request on its behalf), that each Lender make a Base Rate Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swingline Loans then outstanding. Such
request shall be made in writing (which written request shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for
the principal amount of Base Rate Loans, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Borrower with a copy of the applicable Loan
Notice promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Loan Notice available to the Administrative Agent in immediately available
funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swingline Loan) for the account of the Swingline Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in
such Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so
received to the Swingline Lender. 
 (ii) If for any reason any Swingline Loan cannot be refinanced by such a
Revolving Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate Loans submitted by the Swingline Lender as set forth herein shall be deemed to be a request by the Swingline Lender that each of the Lenders fund its
risk participation in the relevant Swingline Loan and each Lender’s payment to the Administrative Agent for the account of the Swingline Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such participation.

  
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 (iii) If any Lender fails to make available to the Administrative Agent for
the account of the Swingline Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swingline Lender shall be
entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the
Swingline Lender at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the Swingline Lender in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar
fees customarily charged by the Swingline Lender in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant
Revolving Borrowing or funded participation in the relevant Swingline Loan, as the case may be. A certificate of the Swingline Lender submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause
(iii) shall be conclusive absent manifest error. 
 (iv) Each Lender’s obligation to make Revolving
Loans or to purchase and fund risk participations in Swingline Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim,
recoupment, defense or other right which such Lender may have against the Swingline Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or
condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Revolving Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in
Section 4.02 (other than delivery by the Borrower of a Loan Notice). No such funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swingline Loans, together with interest as provided
herein. 
 (d) Repayment of Participations. 

(i) At any time after any Lender has purchased and funded a risk participation in a Swingline Loan, if the Swingline
Lender receives any payment on account of such Swingline Loan, the Swingline Lender will distribute to such Lender its Applicable Percentage thereof in the same funds as those received by the Swingline Lender. 

(ii) If any payment received by the Swingline Lender in respect of principal or interest on any Swingline Loan is required
to be returned by the Swingline Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the Swingline Lender in its discretion), each Lender shall pay to the Swingline Lender
its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds Rate. The Administrative Agent will make
such demand upon the request of the Swingline Lender. The obligations of the Lenders under this clause shall survive the occurrence of the Facility Termination Date and the termination of this Agreement. 

  
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 (e) Interest for Account of Swingline Lender. The Swingline Lender
shall be responsible for invoicing the Borrower for interest on the Swingline Loans. Until each Lender funds its Base Rate Loan or risk participation pursuant to this Section to refinance such Lender’s Applicable Percentage of any Swingline
Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swingline Lender. 

(f) Payments Directly to Swingline Lender. The Borrower shall make all payments of principal and interest in
respect of the Swingline Loans directly to the Swingline Lender. 
  

	2.05	Prepayments. 

 (a) Optional. 
 (i) The Borrower may, upon notice to the
Administrative Agent, at any time or from time to time voluntarily prepay Revolving Loans in whole or in part without premium or penalty; provided that (A) such notice must be received by the Administrative Agent not later than 12:00
noon (1) three (3) Business Days prior to any date of prepayment of Eurodollar Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any prepayment of Eurodollar Rate Loans shall be in a principal amount of
$1,000,000 or a whole multiple of $100,000 in excess thereof; and (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal
amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative
Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s ratable portion of such prepayment (based on such Lender’s Applicable Percentage). If such notice is given by the Borrower, the
Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of principal shall be accompanied by all accrued interest on the amount prepaid, together with
any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, such prepayments shall be paid to the Lenders in accordance with their respective Applicable Percentages. 

(ii) The Borrower may, upon notice to the Swingline Lender (with a copy to the Administrative Agent), at any time or from
time to time, voluntarily prepay Swingline Loans in whole or in part without premium or penalty; provided that (A) such notice must be received by the Swingline Lender and the Administrative Agent not later than 2:00 p.m. on the date of
the prepayment, and (B) any such prepayment shall be in a minimum principal amount of $100,000 or a whole multiple of $100,000 in excess hereof (or, if less, the entire principal thereof then outstanding). Each such notice shall specify the
date and amount of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of principal
shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. 

  
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 (b) Mandatory. 

(i) Revolving Outstandings. If for any reason the Total Outstandings at any time exceed the Aggregate Commitments
at such time, the Borrower shall immediately prepay Revolving Loans, Swingline Loans and L/C Borrowings (together with all accrued but unpaid interest thereon) and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such
excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless, after the prepayment of the Revolving Loans and Swingline Loans, the
Total Outstandings exceed the Aggregate Commitments at such time. 
 (ii) Application of Other Payments.
Except as otherwise provided in Section 2.15, prepayments of the Aggregate Commitments made pursuant to this Section 2.05(b), first, shall be applied ratably to the L/C Borrowings and the Swingline Loans,
second, shall be applied to the outstanding Revolving Loans, and, third, shall be used to Cash Collateralize the remaining L/C Obligations. Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as
Cash Collateral shall be applied (without any further action by or notice to or from the Borrower or any other Loan Party or any Defaulting Lender that has provided Cash Collateral) to reimburse the L/C Issuer or the Lenders, as applicable.

 Within the parameters of the applications set forth above, prepayments pursuant to this Section 2.05(b) shall be
applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or
penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment. 
  

	2.06	Termination or Reduction of Commitments. 

 (a) Optional. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, the Letter of Credit Sublimit or the Swingline Sublimit, or from time to time
permanently reduce the Aggregate Commitments, the Letter of Credit Sublimit or the Swingline Sublimit; provided that (i) any such notice shall be received by the Administrative Agent not later than 12:00 noon three (3) Business Days
(or such shorter period as is acceptable to Administrative Agent) prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess
thereof, (iii) the Borrower shall not terminate or reduce (A) the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments,
(B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, or (C) the Swingline Sublimit if, after giving
effect thereto and to any concurrent prepayments hereunder, the Outstanding Amount of Swingline Loans would exceed the Letter of Credit Sublimit and (iv) such notice may state that such notice is conditioned upon the effectiveness of other
credit facilities or the availability of a source of funds for the prepayment in full of the Obligations, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if
such condition is not satisfied. 

  
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 (b) Mandatory. 

If after giving effect to any reduction or termination of Commitments under this Section 2.06, the Letter of
Credit Sublimit or the Swingline Sublimit exceeds the Aggregate Commitments at such time, the Letter of Credit Sublimit or the Swingline Sublimit, as the case may be, shall be automatically reduced by the amount of such excess. 

(c) Application of Commitment Reductions; Payment of Fees. 

The Administrative Agent will promptly notify the Lenders of any termination or reduction of the Letter of Credit
Sublimit, Swingline Sublimit or the Commitment under this Section 2.06. Upon any reduction of the Commitments, the Commitment of each Lender shall be reduced by such Lender’s Applicable Percentage of such reduction amount. All fees
in respect of the Aggregate Commitments accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination. 

 

	2.07	Repayment of Loans. 

 (a) Revolving Loans. The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date. 

(b) Swingline Loans. The Borrower shall repay each Swingline Loan on the earlier to occur of (i) the date ten
(10) Business Days after such Loan is made and (ii) the Maturity Date. 
  

	2.08	Interest and Default Rate. 

 (a) Interest. Subject to the provisions of Section 2.08(b), (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period
from the applicable borrowing date at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable
borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swingline Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to
the Base Rate plus the Applicable Rate. 
 (b) Default Rate. 

(i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether
at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due
(without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders such amount shall thereafter bear interest at a

  
 49 

 
fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(iii) Upon the request of the Required Lenders, while any Event of Default exists, outstanding Obligations (including L/C
Fees) may accrue at a fluctuating rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 

(c) Interest Payments. Interest on each Loan shall be due and payable in arrears on each Interest Payment Date
applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any
Debtor Relief Law. 
  

	2.09	Fees. 

 In addition
to certain fees described in Sections 2.03(h) and (i): 
 (a) Commitment Fee. The Borrower
shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, a commitment fee equal to the Applicable Rate times the actual daily amount by which the Aggregate Commitments exceeds the sum of
(i) the Outstanding Amount of Revolving Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.15. For the avoidance of doubt, the Outstanding Amount of Swingline Loans shall
not be counted towards or considered usage of the Aggregate Commitments. The commitment fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met,
and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The commitment fee shall be
calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect. 
 (b) Other Fees. 

(i) The Borrower shall pay to the Administrative Agent and the Arranger for its own account fees in the amounts and at the
times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 (ii) The Borrower shall pay to the Lenders such fees as shall have been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall
not be refundable for any reason whatsoever. 

  
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	2.10	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate. 

(a) Computation of Interest and Fees. All computations of interest for Base Rate Loans (including Base Rate Loans
determined by reference to the Eurodollar Rate) shall be made on the basis of a year of three hundred sixty-five (365) or three hundred sixty-six (366) days, as the case may be, and actual days elapsed. All other computations of fees and
interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a three hundred sixty-five (365) day year). Interest shall accrue
on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made
shall, subject to Section 2.12(a), bear interest for one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

 (b) Financial Statement Adjustments or Restatements. If, as a result of any restatement of or other
adjustment to the financial statements of the Borrower and its Subsidiaries or for any other reason, the Borrower, or the Lenders determine that (i) the Consolidated Leverage Ratio as calculated by the Borrower as of any applicable date was
inaccurate and (ii) a proper calculation of the Consolidated Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent for the account
of the applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of
the United States, automatically and without further action by the Administrative Agent, any Lender or the L/C Issuer), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of
interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any Lender or the L/C Issuer, as the case may be, under any other provision of this Agreement to payment of any Obligations
hereunder at the Default Rate. The Borrower’s obligations under this paragraph shall survive the occurrence of the Facility Termination Date and the termination of this Agreement. 

 

	2.11	Evidence of Debt. 

 (a) Maintenance of Accounts. The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the
ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and
payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between
the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the
request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records. Each
Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 

  
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 (b) Maintenance of Records. In addition to the accounts and records
referred to in Section 2.11(a), each Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit
and Swingline Loans. In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent
shall control in the absence of manifest error. 
  

	2.12	Payments Generally; Administrative Agent’s Clawback. 

(a) General. All payments to be made by the Borrower shall be made free and clear of and without condition or
deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such
payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable
Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 2:00 p.m. shall be deemed received on
the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and
such extension of time shall be reflected in computing interest or fees, as the case may be. 
 (b) (i) Funding by Lenders;
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of Eurodollar Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to
12:00 noon on the date of such Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such
date in accordance with Section 2.02 (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon
such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower
severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but
excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry
rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made by the Borrower, the interest
rate applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest
paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower
shall be without prejudice to 

  
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any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(ii) Payments by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have
received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder that the Borrower will not make such payment, the Administrative Agent may assume
that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case may be, the amount due. In such event, if the Borrower has not in fact
made such payment, then each of the Lenders or the L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in immediately available funds
with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the Administrative
Agent in accordance with banking industry rules on interbank compensation. 
 A notice of the Administrative Agent to any Lender
or the Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error. 
 (c) Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this
Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms
hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 
 (d) Obligations of Lenders Several. The obligations of the Lenders hereunder to make Revolving Loans, to fund participations in Letters of Credit and Swingline Loans and to make payments pursuant
to Section 11.04(c) are several and not joint. The failure of any Lender to make any Loan, to fund any such participation or to make any payment under Section 11.04(c) on any date required hereunder shall not relieve any
other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payment under Section 11.04(c).

 (e) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any
Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

 

	2.13	Sharing of Payments by Lenders. 

 If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and payable to such Lender hereunder and under the other Loan
Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations due and payable to such Lender at such time to (ii) the aggregate amount of the Obligations due and payable to all
Lenders hereunder and under the other Loan Documents at such time) 

  
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of payments on account of the Obligations due and payable to all Lenders hereunder and under the other Loan Documents at such time obtained by all the Lenders at such time or (b) Obligations
owing (but not due and payable) to such Lender hereunder and under the other Loan Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations owing (but not due and payable) to such
Lender at such time to (ii) the aggregate amount of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Documents at such time) of payments on account of the Obligations owing (but not due and
payable) to all Lenders hereunder and under the other Loan Documents at such time obtained by all of the Lenders at such time, then, in each case under clauses (a) and (b) above, the Lender receiving such greater proportion
shall (A) notify the Administrative Agent of such fact, and (B) purchase (for cash at face value) participations in the Loans and subparticipations in L/C Obligations and Swingline Loans of the other Lenders, or make such other adjustments
as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of Obligations then due and payable to the Lenders or owing (but not due and payable) to the Lenders, as
the case may be, provided that: 
 (1) if any such participations or subparticipations are purchased and
all or any portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(2) the provisions of this Section shall not be construed to apply to (x) any payment made by or on behalf of the
Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (y) the application of Cash Collateral provided for in
Section 2.14, or (z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or subparticipations in L/C Obligations or Swingline Loans to any assignee or participant,
other than an assignment to any Loan Party or any Affiliate thereof (as to which the provisions of this Section shall apply). 

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

	2.14	Cash Collateral. 

 (a) Certain Credit Support Events. If (i) the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing,
(ii) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, (iii) the Borrower shall be required to provide Cash Collateral pursuant to Section 2.05 or 8.02(c), or
(iv) there shall exist a Defaulting Lender, the Borrower shall immediately (in the case of clause (iii) above) or within one (1) Business Day (in all other cases) following any request by the Administrative Agent or the L/C
Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to Section 2.15(a)(iv)
and any Cash Collateral provided by the Defaulting Lender). 

  
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 (b) Grant of Security Interest. The Borrower, and to the extent
provided by any Defaulting Lender, such Defaulting Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Lenders, and agrees to maintain, a first
priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash
Collateral may be applied pursuant to Section 2.14(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent or the L/C Issuer as herein
provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the Borrower will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an
amount sufficient to eliminate such deficiency. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in one or more Cash Collateral Accounts at Bank of America. The Borrower shall pay on
demand therefor from time to time all customary account opening, activity and other administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral. 

(c) Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided
under any of this Section 2.14 or Sections 2.03, 2.05, 2.15 or 8.02 in respect of Letters of Credit shall be held and applied to the satisfaction of the specific L/C Obligations, obligations to fund
participations therein (including, as to Cash Collateral provided by a Lender that is a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application
of such property as may be provided for herein. 
 (d) Release. Cash Collateral (or the appropriate
portion thereof) provided to reduce Fronting Exposure or other obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of
Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance with Section 11.06(b)(vi))) or (ii) the determination by the Administrative Agent and the L/C Issuer that there exists excess
Cash Collateral; provided, however, (A) any such release shall be without prejudice to, and any disbursement or other transfer of Cash Collateral shall be and remain subject to, any other Lien conferred under the Loan Documents
and the other applicable provisions of the Loan Documents, and (B) the Person providing Cash Collateral and the L/C Issuer may agree that Cash Collateral shall not be released but instead held to support future anticipated Fronting Exposure or
other obligations. 
  

	2.15	Defaulting Lenders. 

 (a) Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting
Lender, to the extent permitted by applicable Law: 
 (i) Waivers and Amendments. Such Defaulting
Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of “Required Lenders” and Section 11.01. 

(ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the
Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or 

  
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otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 11.08 shall be applied at such time or times as may be determined by the Administrative
Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the L/C Issuer
or Swingline Lender hereunder; third, to Cash Collateralize the L/C Issuer’s Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.14; fourth, as the Borrower may request (so long as no
Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so
determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (A) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement
and (B) Cash Collateralize the L/C Issuer’s future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.14; sixth, to
the payment of any amounts owing to the Lenders, the L/C Issuer or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or the Swingline Lender against such Defaulting Lender as a
result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of
competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise as may be
required under the Loan Documents in connection with any Lien conferred thereunder or directed by a court of competent jurisdiction; provided that if (1) such payment is a payment of the principal amount of any Loans or L/C Borrowings in
respect of which such Defaulting Lender has not fully funded its appropriate share, and (2) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 4.02 were satisfied or
waived, such payment shall be applied solely to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Obligations owed to, such Defaulting Lender
until such time as all Loans and funded and unfunded participations in L/C Obligations and Swingline Loans are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.15(a)(v). Any
payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.15(a)(ii) shall be deemed paid to
and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 
 (iii) Certain
Fees. 
 (A) No Defaulting Lender shall be entitled to receive any fee payable under
Section 2.09(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender). 

(B) Each Defaulting Lender shall be entitled to receive Letter of Credit Fees for any period during which that Lender is
a Defaulting Lender only to the extent allocable to its Applicable Percentage of the stated amount of 

  
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Letters of Credit for which it has provided Cash Collateral pursuant to Section 2.14. 
 (C) Defaulting Lender Fees. With respect to any Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to clause (A) or (B) above, the Borrower shall
(1) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in L/C Obligations that has been reallocated to such Non-Defaulting
Lender pursuant to clause (iv) below, (2) pay to the L/C Issuer the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer’s Fronting Exposure to such Defaulting Lender,
and (3) not be required to pay the remaining amount of any such fee. 
 (iv) Reallocation of Applicable
Percentages to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s participation in L/C Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable
Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that (A) the conditions set forth in Section 4.02 are satisfied at the time of such reallocation (and, unless the Borrower
shall have otherwise notified the Administrative Agent at such time, the Borrower shall be deemed to have represented and warranted that such conditions are satisfied at such time), and (B) such reallocation does not cause the aggregate
Revolving Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment. No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that
Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

(v) Cash Collateral, Repayment of Swingline Loans. If the reallocation described in clause (a)(v) above
cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, (A) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s
Fronting Exposure and (B) second, Cash Collateralize the L/C Issuer’s Fronting Exposure in accordance with the procedures set forth in Section 2.14. 

(b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, Swingline Lender and the L/C Issuer agree in
writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include
arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be
necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving effect to
Section 2.15(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that
Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim
of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

  
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	2.16	Increase in Aggregate Commitments. 

 (a) Request for Increase. Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request an
increase in the Aggregate Commitments by an amount (for all such requests) not exceeding $50,000,000; provided that (i) any such request for an increase shall be in a minimum amount of $10,000,000 and in increments of $1,000,000 in
excess thereof or, if less, the entire remaining unused amount under this Section 2.16, and (ii) the Borrower may make a maximum of three (3) such requests. At the time of sending such notice, the Borrower (in consultation with
the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Lenders). 

(b) Lender Elections to Increase. Each Lender shall notify the Administrative Agent within such time period whether
or not it agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Percentage of such requested increase. Any Lender not responding within such time period shall be deemed to have
declined to increase its Commitment. 
 (c) Notification by Administrative Agent; Additional Lenders. The
Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, and subject to the approval of the Administrative Agent, the L/C Issuer
and the Swingline Lender (which approvals shall not be unreasonably withheld, conditioned or delayed), the Borrower may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance reasonably
satisfactory to the Administrative Agent. 
 (d) Effective Date and Allocations. If the Aggregate
Commitments is increased in accordance with this Section, the Administrative Agent and the Borrower shall determine the effective date (the “Revolving Increase Effective Date”) and the final allocation of such increase. The
Administrative Agent shall promptly notify the Borrower and the Lenders of the final allocation of such increase and the Revolving Increase Effective Date. 
 (e) Conditions to Effectiveness of Increase. As a condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the
Revolving Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and
(ii) in the case of the Borrower, certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Article V and the other Loan Documents are true and correct in all material
respects (except, if a qualifier relating to materiality, Material Adverse Effect or a similar concept applies, such representation or warranty shall be true and correct in all respects), on and as of the Revolving Increase Effective Date, except
that for purposes of this Section 2.16, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant
to clauses (a) and (b), respectively, of Section 6.01, and (B) no Default or Event of Default exists. The Borrower shall either prepay any Revolving Loans outstanding on the Revolving Increase Effective Date (and
pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the 

  
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outstanding Revolving Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section. 

(f) Conflicting Provisions. This Section shall supersede any provisions in Section 2.13 or 11.01
to the contrary and, for the avoidance of doubt, no consent of the Required Lenders shall be required in order to increase the Commitments as provided in this Section 2.16 as in effect at the time of such increase. 

ARTICLE III 
 TAXES, YIELD PROTECTION AND ILLEGALITY 
  

	3.01	Taxes. 

 (a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. 
 (i) Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable Laws.
If any applicable Laws (as determined in the good faith discretion of the Administrative Agent or the applicable payor) require the deduction or withholding of any Tax from any such payment by the Administrative Agent or a Loan Party, then the
Administrative Agent or such Loan Party shall be entitled to make such deduction or withholding, upon the basis of the information and documentation to be delivered pursuant to subsection (e) below. 

(ii) If any Loan Party or the Administrative Agent shall be required by the Code to withhold or deduct any Taxes,
including both United States federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or make such deductions as are determined by the Administrative Agent to be required based upon
the information and documentation it has received pursuant to subsection (e) below, (B) the Administrative Agent shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with the
Code, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after any required withholding or the making of all
required deductions (including deductions applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding or deduction been made.

 (iii) If any Loan Party or the Administrative Agent shall be required by any applicable Laws other than the
Code to withhold or deduct any Taxes from any payment, then (A) such Loan Party or the Administrative Agent, as required by such Laws, shall withhold or make such deductions as are determined by it to be required based upon the information and
documentation it has received pursuant to subsection (e) below, (B) such Loan Party or the Administrative Agent, to the extent required by such Laws, shall timely pay the full amount withheld or deducted to the relevant Governmental
Authority in accordance with such Laws, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after any required
withholding or the making of all 

  
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required deductions (including deductions applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have
received had no such withholding or deduction been made. 
 (b) Payment of Other Taxes by the Loan
Parties. Without limiting the provisions of subsection (a) above, the Loan Parties shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely
reimburse it for the payment of, any Other Taxes. 
 (c) Tax Indemnifications. 

(i) Each of the Loan Parties shall, and does hereby, jointly and severally indemnify each Recipient, and shall make
payment in respect thereof within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 3.01)
payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or the L/C Issuer (with a copy to the Administrative Agent), or by the
Administrative Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error. Each of the Loan Parties shall also, and does hereby, jointly and severally indemnify the Administrative Agent, and shall
make payment in respect thereof within ten (10) days after demand therefor, for any amount which a Lender or the L/C Issuer for any reason fails to pay indefeasibly to the Administrative Agent as required pursuant to
Section 3.01(c)(ii) below. 
 (ii) Each Lender and the L/C Issuer shall, and does hereby, severally
indemnify and shall make payment in respect thereof within ten (10) days after demand therefor, (A) the Administrative Agent against any Indemnified Taxes attributable to such Lender or the L/C Issuer (but only to the extent that any Loan
Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (B) the Administrative Agent and the Loan Parties, as applicable, against any Taxes
attributable to such Lender’s failure to comply with the provisions of Section 11.06(d) relating to the maintenance of a Participant Register and (C) the Administrative Agent and the Loan Parties, as applicable, against any
Excluded Taxes attributable to such Lender or the L/C Issuer, in each case, that are payable or paid by the Administrative Agent or a Loan Party in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect
thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be
conclusive absent manifest error. Each Lender and the L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or the L/C Issuer, as the case may be, under this Agreement or any
other Loan Document against any amount due to the Administrative Agent under this clause (ii). 
 (d)
Evidence of Payments. Upon request by the Borrower or the Administrative Agent, as the case may be, after any payment of Taxes by the Borrower or by the Administrative 

  
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Agent to a Governmental Authority as provided in this Section 3.01, the Borrower shall deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower,
as the case may be, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by Laws to report such payment or other evidence of such payment reasonably satisfactory
to the Borrower or the Administrative Agent, as the case may be. 
 (e) Status of Lenders; Tax
Documentation. 
 (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with
respect to payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation
reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative
Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject
to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in
Section 3.01(e)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or
expense or would materially prejudice the legal or commercial position of such Lender. Upon making such payment to the Administrative Agent, the applicable Loan Party shall be subrogated to the rights of the Administrative Agent pursuant to
Section 3.01(e)(ii) below against the applicable defaulting Lender or L/C Issuer (other than the right of set off pursuant to the last sentence of Section 3.01(e)(ii)). 

(ii) Without limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person, 

(A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date
on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S.
federal backup withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally entitled to do so,
deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon
the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable: 

(1) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party
(x) with respect 

  
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to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the
“interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the
“business profits” or “other income” article of such tax treaty; 
 (2) executed originals
of IRS Form W-8ECI; 
 (3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio
interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit L-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a
“10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance
Certificate”) and (y) executed originals of IRS Form W-8BEN; or 
 (4) to the extent a Foreign
Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit L-2 or Exhibit L-3, IRS Form W-9, and/or
other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption,
such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit L-4 on behalf of each such direct and indirect partner; 

(C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the
Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the
Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary
documentation as may be prescribed by applicable Law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and 

(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by
FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the
Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable Law (including as prescribed by Section

  
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1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent
to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause
(D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 
 (iii)
Each Lender agrees that if any form or certification it previously delivered pursuant to this Section 3.01 expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the
Borrower and the Administrative Agent in writing of its legal inability to do so. 
 (f) Treatment of Certain
Refunds. Unless required by applicable Laws, at no time shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer,
any refund of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C Issuer, as the case may be. If any Recipient determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as
to which it has been indemnified by any Loan Party or with respect to which any Loan Party has paid additional amounts pursuant to this Section 3.01, it shall pay to such Loan Party an amount equal to such refund (but only to the extent
of indemnity payments made, or additional amounts paid, by such Loan Party under this Section 3.01 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) incurred by such Recipient, as
the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that the Loan Party, upon the request of the Recipient, agrees to repay the amount paid over to
the Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Recipient in the event the Recipient is required to repay such refund to such Governmental Authority. Notwithstanding anything to
the contrary in this subsection, in no event will the applicable Recipient be required to pay any amount to the Loan Party pursuant to this subsection the payment of which would place the Recipient in a less favorable net after-Tax position than
such Recipient would have been in if the indemnification payments or additional amounts giving rise to such refund had never been paid. This subsection shall not be construed to require the Recipient to make available its tax returns (or any other
information relating to its taxes that it deems confidential) to any Loan Party or any other Person. 
 (g)
Survival. Each party’s obligations under this Section 3.01 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender or the L/C Issuer, the
occurrence of the Facility Termination Date and the termination of this Agreement. 
  

	3.02	Illegality. 

 If
any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its Lending Office to make, maintain or fund Loans whose interest is determined by reference to the
Eurodollar Rate, or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the
London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (a) any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to

  
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Eurodollar Rate Loans shall be suspended, and (b) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by
reference to the Eurodollar Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate
component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (i) the Borrower shall, upon
demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid
such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar
Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans and (ii) if such notice asserts the illegality of such Lender determining or charging interest rates based upon the
Eurodollar Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Eurodollar Rate component thereof until the Administrative Agent is advised in writing by
such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurodollar Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or
converted. 
  

	3.03	Inability to Determine Rates. 

 If the Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being
offered to banks in the London interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest
Period with respect to a proposed Eurodollar Rate Loan or in connection with an existing or proposed Base Rate Loan, or (c) the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not
adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (i) the obligation of the Lenders to make or maintain Eurodollar Rate Loans
shall be suspended, and (ii) in the event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall
be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation
of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein. 

 

	3.04	Increased Costs; Reserves on Eurodollar Rate Loans. 

 (a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by Section 3.04(e)) or the L/C Issuer; 

(ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses
(b) through (d) of the definition of Excluded Taxes and 

  
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(C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto;
or 
 (iii) impose on any Lender or the L/C Issuer or the London interbank market any other condition, cost or
expense affecting this Agreement or Eurodollar Rate Loans made by such Lender or any Letter of Credit or participation therein; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making, converting to, continuing or maintaining
any Loan the interest on which is determined by reference to the Eurodollar Rate (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or maintaining any
Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder (whether of principal, interest or any other
amount) then, upon request of such Lender or the L/C Issuer, the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer, as the case may be, for such
additional costs incurred or reduction suffered. 
 (b) Capital Requirements. If any Lender or the L/C
Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital or liquidity requirements has or would
have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of
such Lender or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or
the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with
respect to capital adequacy), then from time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C
Issuer’s holding company for any such reduction suffered. 
 (c) Certificates for Reimbursement. A
certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this
Section and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt
thereof. 
 (d) Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand
compensation pursuant to the foregoing provisions of this Section 3.04 shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided that the Borrower shall not be
required to compensate a Lender or the L/C Issuer pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine (9) months prior to the date that such Lender or the L/C Issuer, as
the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise
to such increased costs or reductions is retroactive, 

  
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then the nine (9) month period referred to above shall be extended to include the period of retroactive effect thereof). 

(e) Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long as such Lender shall be
required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each
Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which
interest is payable on such Loan, provided the Borrower shall have received at least ten (10) days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice ten
(10) days prior to the relevant Interest Payment Date, such additional interest shall be due and payable ten (10) days from receipt of such notice. 
  

	3.05	Compensation for Losses. 

 Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense
incurred by it as a result of: 
 (a) any continuation, conversion, payment or prepayment of any Loan other than
a Base Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(b) any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow,
continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or 
 (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to Section 11.13; 

including any loss of anticipated profits and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such
Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. 

For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have
funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar
Rate Loan was in fact so funded. 
  

	3.06	Mitigation Obligations; Replacement of Lenders. 

 (a) Designation of a Different Lending Office. If any Lender requests compensation under Section 3.04, or requires the Borrower to pay any Indemnified Taxes or additional amounts to any
Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender or the L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then at the request of the Borrower,
such Lender or the L/C Issuer shall, as applicable, use 

  
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reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or
affiliates, if, in the judgment of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate
the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender or the L/C Issuer, as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer in connection with any such designation or assignment. 

(b) Replacement of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrower
is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 and, in each case, such Lender has declined or is unable to designate a
different lending office in accordance with Section 3.06(a), the Borrower may replace such Lender in accordance with Section 11.13. 
  

	3.07	Survival. 

 All of
the Borrower’s obligations under this Article III shall survive the resignation of the Administrative Agent, the occurrence of the Facility Termination Date and the termination of this Agreement. 

ARTICLE IV 

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 
  

	4.01	Conditions of Initial Credit Extension. 

 The obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent: 

(a) Execution of Credit Agreement; Loan Documents. The Administrative Agent shall have received
(i) counterparts of this Agreement, executed by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, (ii) for the account of each Lender requesting a Note, a Note executed by a Responsible Officer of the
Borrower, (iii) counterparts of the Security Agreement and each other Collateral Document (subject to Section 4.01(e)), executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other
Person party thereto, as applicable, (iv) counterparts of the Intercompany Subordination Agreement executed by a Responsible Officer of the Borrower and each Subsidiary and a duly authorized officer of the Administrative Agent and
(v) counterparts of each other Loan Document, executed by a Responsible Officer of the applicable Loan Party and a duly authorized officer of each other Person party thereto. 

(b) Officer’s Certificate. The Administrative Agent shall have received a certificate of a Responsible Officer
(in substantially the form of Exhibit K attached hereto) dated the Closing Date, certifying as to the Organization Documents of each Loan Party (which, to the extent filed with a Governmental Authority, shall be certified as of a recent
date by such 

  
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Governmental Authority), the resolutions of the governing body of each Loan Party, the good standing, existence or its equivalent of each Loan Party for such Loan Party’s jurisdiction of
incorporation or formation and each other jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification except to the extent that failure to do so could not reasonably be expected to
have a Material Adverse Effect, and of the incumbency of the Responsible Officers authorized to sign Loan Documents of each Loan Party. 
 (c) Legal Opinions of Counsel. The Administrative Agent shall have received an opinion or opinions (including, if requested by the Administrative Agent, local counsel opinions) of counsel for the
Loan Parties, dated the Closing Date and addressed to the Administrative Agent and the Lenders, in form and substance acceptable to the Administrative Agent. 
 (d) Financial Statements. The Administrative Agent and the Lenders shall have received (i) copies of the Consolidated financial statements referred to in Section 5.05(b) and the
unaudited consolidated balance sheet of Allos and its Subsidiaries dated June 30, 2012, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date, each in
form and substance satisfactory to each of them; and (ii) Consolidated forecasted balance sheets, statements of income or operatings and cash flows of the Borrower and its Subsidiaries, after giving effect to the Transaction as of June 30,
2012. 
 (e) Personal Property Collateral. The Administrative Agent shall have received (unless otherwise
set forth on Schedule 7.17 and subject to Section 7.17), in form and substance reasonably satisfactory to the Administrative Agent: 
 (i) searches of UCC filings in the jurisdiction of incorporation or formation, as applicable, of each Loan Party and each jurisdiction where any Collateral is located or where a filing would need to be
made in order to perfect the Administrative Agent’s security interest in the Collateral, copies of the financing statements on file in such jurisdictions and evidence that no Liens exist other than Permitted Liens (to the extent a request
therefor is made at least seven (7) days prior to the Closing Date); 
 (ii) searches of ownership of
Intellectual Property in the appropriate governmental offices in the United States and such patent/trademark/copyright filings in the United States Copyright Office and the United States Patent and Trademark Office, in each case as requested by the
Administrative Agent in order to perfect the Administrative Agent’s security interest in the Intellectual Property; 
 (iii) completed UCC financing statements for each appropriate jurisdiction as is necessary, in the Administrative Agent’s sole and reasonable discretion, to perfect the Administrative Agent’s
security interest in the Collateral; 
 (iv) stock or membership certificates, if any, evidencing the Pledged
Equity and undated stock or transfer powers duly executed in blank; in each case to the extent such Pledged Equity is certificated; 
 (v) in the case of any personal property Collateral located at premises leased by a Loan Party and set forth on Schedule 5.19(g), such estoppel letters, consents and waivers from the landlords
of such real property to the extent required to be delivered in connection with Section 6.15 (such letters, consents and waivers shall be in form and substance reasonably satisfactory to the Administrative Agent, it being acknowledged

  
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and agreed that any landlord waiver in substantially the form of Exhibit N is reasonably satisfactory to the Administrative Agent); and 

(vi) to the extent required to be delivered pursuant to the terms of the Collateral Documents, all instruments, documents
and chattel paper in the possession of any of the Loan Parties, together with allonges or assignments as may be necessary or appropriate to perfect the Administrative Agent’s and the Lenders’ security interest in the Collateral; and

 (vii) Qualifying Control Agreements reasonably satisfactory to the Administrative Agent to the extent required
to be delivered pursuant to the Security Agreement (it being understood and agreed that Qualifying Control Agreement shall not be required with respect to Excluded Accounts); 
 provided, however, that, notwithstanding the foregoing, to the extent any Collateral (or the creation or perfection of any security interest therein) intended to be provided or perfected
pursuant to clause (ii), (v), (vi) or (vii) of this Section 4.01(e) is not or cannot be provided or perfected on the Closing Date after use by the Loan Parties of commercially reasonable efforts to
do so or without undue burden or expense, then the provision or perfection of any such Collateral shall not constitute a condition precedent to the Closing Date but shall be required to be provided (or in the case of clause (v) of this
Section 4.01(e), shall be required to use commercially reasonable efforts to provide) and/or perfected within forty-five (45) days after the Closing Date (or such longer period as the Administrative Agent, in its reasonable
discretion, shall have agreed). 
 (f) Liability, Casualty, and Property Insurance. The Administrative
Agent shall have received copies of insurance policies (to the extent requested by the Administrative Agent), declaration pages, certificates, and endorsements of insurance or insurance binders evidencing liability, casualty, and property insurance
meeting the requirements set forth herein or in the Collateral Documents or as required by the Administrative Agent. 
 (g) Solvency Certificate. The Administrative Agent shall have received a Solvency Certificate signed by the chief financial officer of the Borrower. 

(h) Financial Condition Certificate. The Administrative Agent shall have received a certificate or certificates
executed by the chief financial officer of the Borrower as of the Closing Date, as to the calculation of the Consolidated Leverage Ratio, determined on a Pro Forma Basis after giving effect to the Transaction, and the matters set forth in
Section 4.01(i), substantially in the form of Exhibit O. 
 (i) Cash Balance.
After giving effect to the Transaction, the Borrower and its Subsidiaries, on a Consolidated and Pro Forma Basis, shall have cash, Cash Equivalents and marketable securities that can be settled as cash within three (3) Business Days as of
June 30, 2012 in an aggregate amount not less than $250,000,000. 
 (j) Borrowing Notice. The
Administrative Agent shall have received a Borrowing Notice with respect to the Loans to be made on the Closing Date. 
 (k) Existing Indebtedness of the Loan Parties. All of the existing Indebtedness for borrowed money of the Borrower and its Subsidiaries (after giving effect to the Transaction) set

  
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forth on Schedule 4.01(k) shall (or concurrently with the initial Credit Extension) be repaid in full and all security interests related thereto shall be terminated on or prior to the
Closing Date. 
 (l) Allos Acquisition. 

(i) The Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower attaching a copy
of each duly executed and effective Allos Acquisition Document. The Specified Acquisition Representations shall be true and correct in all material respects (except, if a qualifier relating to materiality, material adverse effect or a similar
concept applies, such Specified Acquisition Representation shall be true and correct in all respects). Step One of the Allos Acquisition shall have been, or substantially concurrently with the initial Borrowing on the Closing Date shall be,
consummated in accordance with the terms of the Allos Acquisition Documents, without giving effect to any modifications, amendments or waivers thereto since April 4, 2012 that are materially adverse to the Lenders in their capacities as lenders
without the consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed). 
 (ii) In the event Allos is a wholly-owned Subsidiary of the Borrower as of the Closing Date, Allos shall be required to become a Guarantor and shall be obligated to deliver each of the applicable
documents required by this Section 4.01. In the event Allos is not a wholly-owned Subsidiary of the Borrower as of the Closing Date, Allos shall have no such obligation to become a Guarantor as of such Date. 

(m) Closing Date Material Adverse Effect. Except as set forth on Part 3.5 of the Company Disclosure Schedule (as
defined in the Allos Acquisition Agreement and without any amendments thereto after April 5, 2012), since December 31, 2011, no Closing Date Material Adverse Effect shall have occurred. 

(n) Form FR U-1. The Administrative Agent shall have received a completed Federal Reserve Form U-1 executed by a
Responsible Officer of the Borrower. 
 (o) Disclosure. The Administrative Agent shall have received all
documentation and other information about the Borrower and the other Loan Parties as has been reasonably requested in writing at least five days prior to the Closing Date by the Administrative Agent that it reasonably determines is required by
regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation, the USA PATRIOT Act. 

(p) Fees and Expenses. The Administrative Agent and the Lenders shall have received all fees and expenses, if any,
required to be paid on or prior to the Closing Date pursuant to the Fee Letter and this Agreement to the extent invoiced with reasonable detail at least one Business Day prior to the Closing Date. 

Without limiting the generality of the provisions of the last paragraph of Section 9.03, for purposes of determining compliance with the
conditions specified in this Section, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by
or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 

  
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	4.02	Conditions to all Credit Extensions. 

 The obligation of each Lender and the L/C Issuer to honor any Request for Credit Extension (other than a Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of
Eurodollar Rate Loans) is subject to the following conditions precedent: 
 (a) The representations and
warranties of the Borrower and each other Loan Party contained in Article II, Article V or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be
true and correct in all material respects (except, if a qualifier relating to materiality, Material Adverse Effect or a similar concept applies, such representation or warranty shall be true and correct in all respects) on and as of the date of such
Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (except, if a qualifier relating to materiality, Material
Adverse Effect or a similar concept applies, such representation or warranty shall be true and correct in all respects) as of such earlier date, and except that for purposes of this Section 4.02, the representations and warranties
contained in Sections 5.05(a) and (b) shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b), respectively, and except that, in the case of the initial Credit Extension
on the Closing Date, such representations and warranties shall be limited to those set forth in Sections 5.01, 5.02, 5.04, 5.13, 5.16, 5.19(a) (subject to the proviso to Section 4.01(e)) and
5.20. 
 (b) No Default shall exist, or would result from such proposed Credit Extension or from the
application of the proceeds thereof. 
 (c) The Administrative Agent and, if applicable, the L/C Issuer or the
Swingline Lender shall have received a Request for Credit Extension in accordance with the requirements hereof. 
 Each Request for Credit
Extension (other than a Loan Notice requesting only a conversion of Loans to the other Type or a continuation of Eurodollar Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in
Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES 
 The Borrower represents and warrants to the Administrative Agent and the Lenders, as of the date made or deemed made, that: 

 

	5.01	Existence, Qualification and Power. 

 Each Loan Party and each of its Subsidiaries (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction of its incorporation or
organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its
obligations under the Loan Documents to which it is a party, and (c) is duly qualified and is licensed 

  
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and, as applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or
license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

 

	5.02	Authorization; No Contravention. 

 The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is or is to be a party, and the consummation of the Transaction, have been duly authorized by all
necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any
Lien (other than the Liens created under the Loan Documents) under, or require any payment to be made under (i) any material Contractual Obligation to which such Person is a party or affecting such Person or the properties of such Person or any
of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any Law. 

 

	5.03	Governmental Authorization; Other Consents. 

 No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution,
delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document or for the consummation of the Transaction, other than (i) authorizations, approvals, actions, notices and filings which have been
duly obtained or are required to be obtained under the Collateral Documents and (ii) filings to perfect the Liens created by the Collateral Documents. 
  

	5.04	Binding Effect. 

This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Loan
Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is party thereto in
accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principals of equity (whether enforcement is sought by proceedings in
equity or at law). 
  

	5.05	Financial Statements; No Material Adverse Effect. 

 (a) Audited Financial Statements. The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein; (ii) fairly present the financial condition of the Borrower and its Subsidiaries (other than Allos and its Subsidiaries) as of the date thereof and their results of operations for the period covered thereby in
accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Borrower and its
Subsidiaries (other than Allos and its Subsidiaries) as of the date thereof, including liabilities for taxes, material commitments and Indebtedness. 
 (b) Quarterly Financial Statements. The unaudited Consolidated balance sheets of the Borrower and its Subsidiaries (other than Allos and its Subsidiaries) dated June 30, 2012, and

  
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the related Consolidated statements of income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present in all material respects the financial condition of the Borrower and its Subsidiaries (other than Allos and its
Subsidiaries) as of the date thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments. 

(c) Material Adverse Effect. Since the date of the Audited Financial Statements, there has been no event or
circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 
 (d) Pro Forma Financials. The Consolidated pro forma balance sheets of the Borrower and its Subsidiaries as at June 30, 2012, and the related Consolidated pro forma statements of income and
cash flows of the Borrower and its Subsidiaries for the three (3) months then ended, certified by the chief financial officer or treasurer of the Borrower, copies of which have been furnished to the Administrative Agent (for itself and each
Lender), fairly present in all material respects the Consolidated pro forma financial condition of the Borrower and its Subsidiaries as at such date and the Consolidated pro forma results of operations of the Borrower and its Subsidiaries for the
period ended on such date, all in accordance with GAAP and prepared giving Pro Forma Effect to the Transaction (it being understood that projected financial information is not to be viewed as fact and that actual results may differ from projected
results and that such differences may be material). 
 (e) Forecasted Financials. The Consolidated and, if
applicable, consolidating forecasted balance sheets, statements of income and cash flows of the Borrower and its Subsidiaries delivered pursuant to Section 4.01 or Section 6.01 were prepared in good faith on the basis of the
assumptions stated therein, which assumptions were believed by the Borrower to be reasonable in light of the conditions existing at the time of delivery of such forecasts, and represented, at the time of delivery, the Borrower’s best estimate
of its future financial condition and performance. 
  

	5.06	Litigation. 

Except suits, proceedings, claims or disputes pertaining to disclosures set forth in the Borrower’s most recent Form 10-K filing with
the SEC prior to the Closing Date, there are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Loan Parties after due and diligent investigation, threatened or contemplated, at law, in equity, in arbitration or
before any Governmental Authority, by or against any Loan Party or an Subsidiary or against any of their properties or revenues that (a) materially and adversely affect the legality, validity or enforceability of this Agreement, the other Loan
Documents or any of the transactions contemplated hereby or thereby (excluding any litigation brought by the Administrative Agent, any other agent or any Lender party to this Agreement), or (b) either individually or in the aggregate could
reasonably be expected to have a Material Adverse Effect. 
  

	5.07	No Default. 

Neither any Loan Party nor any Subsidiary thereof is in default under or with respect to, or a party to, any Contractual Obligation that
could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. As of the Closing Date or any date that the representation 

  
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and warranty in this sentence is required to be remade pursuant to Section 4.02(a), no Default has occurred and is continuing or would result from the consummation of the transactions
contemplated by this Agreement or any other Loan Document. 
  

	5.08	Ownership of Property. 

 Each Loan Party and each of its Subsidiaries has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its
business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
  

	5.09	Environmental Compliance. 

 Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect: 
 (a) The Loan Parties and their respective Subsidiaries are and have been in compliance with Environmental Laws. 
 (b) None of the properties currently or formerly owned or operated by any Loan Party or any of its Subsidiaries is listed or proposed for listing on the NPL or on the CERCLIS or any analogous foreign,
state or local list or is adjacent to any such property; there are no and never have been any underground or above-ground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have
been treated, stored or disposed on any property currently owned or operated by any Loan Party or any of its Subsidiaries or, to the best of the knowledge of the Loan Parties, on any property formerly owned or operated by any Loan Party or any of
its Subsidiaries; there is no asbestos or asbestos-containing material on any property currently owned or operated by any Loan Party or any of its Subsidiaries; and Hazardous Materials have not been released, discharged or disposed of on any
property currently or formerly owned or operated by any Loan Party or any of its Subsidiaries. 
 (c) Neither any
Loan Party nor any of its Subsidiaries is undertaking, and has not completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or
threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any Environmental Law; and all Hazardous Materials
generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by any Loan Party or any of its Subsidiaries have been disposed of in a manner not reasonably expected to result in
material liability to any Loan Party or any of its Subsidiaries. 
  

	5.10	Insurance. 

 The
properties of the Borrower and its Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by
companies engaged in similar businesses and owning similar properties in localities where the applicable Loan Party or the applicable Subsidiary operates. A true and complete listing of such insurance is outlined on Schedule 5.10 and such
insurance coverage complies with the requirements set forth in this Agreement and the other Loan Documents. 

  
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	5.11	Taxes. 

 Each Loan
Party and its Subsidiaries have filed all federal, state income and other material tax returns and reports required to be filed, and have paid all federal, state and other material taxes, assessments, fees and other governmental charges levied or
imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance
with GAAP and except such tax returns and reports and such taxes, assessments, fees and other governmental charges where failure to file or pay could not reasonably be expected to have a Material Adverse Effect. There is no proposed tax assessment
against any Loan Party or any Subsidiary that would, if made, have a Material Adverse Effect, nor does any Loan Party or any Subsidiary have potential liability for taxes pursuant to any tax sharing or similar agreement (other than taxes of any Loan
Party or any Subsidiary) that could reasonably be expected to result in a Material Adverse Effect. 
  

	5.12	ERISA Compliance. 

 (a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other federal or state laws, except where the failure to comply therewith, either individually
or in the aggregate, could not reasonably be expected to result in a material liability to any Loan Party. Each Pension Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter
or is subject to a favorable opinion letter from the IRS to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from
federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the IRS. To the best knowledge of the Loan Parties, nothing has occurred that would prevent or cause the loss of such
tax-qualified status. 
 (b) There are no pending or, to the best knowledge of the Loan Parties, threatened
claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility
rules with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c)(i) No ERISA Event has occurred, and no Loan Party nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA Event
with respect to any Pension Plan; (ii) the Borrower and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension
Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and no Loan Party nor
any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) no Loan Party nor any
ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that are unpaid; (v) neither the Borrower nor any ERISA Affiliate has engaged in a
transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that
could 

  
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reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan. 

(d) Neither the Borrower nor any ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to
contribute to, or liability under, any active or terminated Pension Plan other than (i) on the Closing Date, those listed on Schedule 5.12 hereto and (ii) thereafter, Pension Plans not otherwise prohibited by this Agreement.

 (e) With respect to each scheme or arrangement mandated by a government other than the United States (a
“Foreign Government Scheme or Arrangement”) and with respect to each employee benefit plan maintained or contributed to by any Loan Party or any Subsidiary of any Loan Party that is not subject to United States law (a
“Foreign Plan”): 
 (i) employer and employee contributions required by law or by the terms of
any Foreign Government Scheme or Arrangement or any Foreign Plan have been made such that no Loan Party has or could reasonably be expected to incur a material liability, or, if applicable, accrued, in accordance with normal accounting practices;

 (ii) the fair market value of the assets of each funded Foreign Plan, the liability of each insurer for any
Foreign Plan funded through insurance or the book reserve established for any Foreign Plan, together with any accrued contributions, is sufficient to procure or provide for the accrued benefit obligations such that no Loan Party has or could
reasonably be expected to incur a material liability, as of the date hereof, with respect to all current and former participants in such Foreign Plan according to the actuarial assumptions and valuations most recently used to account for such
obligations in accordance with applicable generally accepted accounting principles; and 
 (iii) each Foreign
Plan required to be registered has been registered and has been maintained in good standing with applicable regulatory authorities. 
  

	5.13	Margin Regulations; Investment Company Act. 

 (a) Margin Regulations. Other than in connection with the Transactions and other transactions permitted by Section 7.06, the Borrower is not engaged and will not engage, principally or
as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. No part of the proceeds of
any Borrowing or drawing under each Letter of Credit will be used for any purpose which violates the provisions of Regulations U or X. 
 (b) Investment Company Act. None of the Borrower, any Person Controlling the Borrower, or any Subsidiary is or is required to be registered as an “investment company” under the Investment
Company Act of 1940. 
  

	5.14	Disclosure. 

 The
Borrower has disclosed to the Administrative Agent and the Lenders all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries or any other Loan Party is subject, and all other matters known to it, that,
individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. No report, financial statement, certificate or other 

  
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information furnished (in writing) by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this
Agreement or delivered hereunder or under any other Loan Document (in each case as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading in any material respect; provided that, with respect to projected financial information, each Loan Party represents only that such information
was prepared in good faith based upon assumptions believed to be reasonable at the time (it being understood that projected financial information is not to be viewed as fact and that actual results may differ from projected results and that such
differences may be material). 
  

	5.15	Compliance with Laws. 

 Each Loan Party and each Subsidiary thereof is in compliance with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such
instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the
aggregate, could not reasonably be expected to have a Material Adverse Effect. 
  

	5.16	Solvency. 

 The
Borrower and its Subsidiaries, taken as a whole on a Consolidated basis, are Solvent. 
  

	5.17	Casualty, Etc. 

Neither the businesses nor the properties of any Loan Party or any of its Subsidiaries are affected by any fire, explosion, accident,
strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty (whether or not covered by insurance) that, either individually or in the aggregate, could reasonably be expected
to have a Material Adverse Effect. 
  

	5.18	Subsidiaries; Equity Interests; Loan Parties. 

 (a) Subsidiaries, Joint Ventures, Partnerships and Equity Investments. Set forth on Schedule 5.18(a), is the following information which is true and complete in all respects as of the
Closing Date and as of the last date such Schedule was required to be updated in accordance with Section 6.02: (i) a complete and accurate list of all Subsidiaries, Joint Ventures and partnerships and other equity Investments with a
value in excess of $100,000 of the Loan Parties as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Section 6.02, (ii) the number of shares of each class of Equity Interests in
each Subsidiary outstanding, (iii) the number and percentage of outstanding shares of each class of Equity Interests owned by the Loan Parties and their Subsidiaries and (iv) the class or nature of such Equity Interests (i.e. voting,
non-voting, preferred, etc.). The outstanding Equity Interests in all Subsidiaries are validly issued, fully paid and non-assessable and are owned free and clear of all Liens. There are no outstanding subscriptions, options, warrants, calls, rights
or other agreements or commitments (other than stock options granted to employees or directors and directors’ qualifying shares) of any nature relating to the Equity Interests of any Loan Party or any Subsidiary (until the consummation of Step
Two of the Allos Acquisition, other than Allos) thereof, except as contemplated in connection with the Loan Documents. 

  
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 (b) Loan Parties. Set forth on Schedule 5.18(b) is a
complete and accurate list of all Loan Parties, showing as of the Closing Date, or as of the last date such Schedule was required to be update in accordance with Section 6.02, (as to each Loan Party) (i) the exact legal name,
(ii) any former legal names of such Loan Party in the four (4) months prior to the Closing Date, (iii) the jurisdiction of its incorporation or organization, as applicable, (iv) the type of organization, (v) the
jurisdictions in which such Loan Party is qualified to do business, (vi) the address of its chief executive office, (vii) the address of its principal place of business, (viii) its U.S. federal taxpayer identification number,
(ix) the organization identification number, (x) ownership information (e.g. publicly held or if private or partnership, the owners and partners of each of the Loan Parties) and (xi) the industry or nature of business of such Loan
Party. 
  

	5.19	Collateral Representations. 

 (a) Collateral Documents. The provisions of the Collateral Documents are effective to create in favor of the Administrative Agent for the benefit of the Secured Parties a legal, valid and
enforceable Lien on all right, title and interest of the respective Loan Parties in the Collateral described therein and (i) upon the appropriate filings being timely made, including without limitation UCC filings, filings with the U.S. Patent
and Trademark Office, the U.S. Copyright Office and filings in respect of mortgages, (ii) upon the taking of possession or control by the Administrative Agent of the Collateral with respect to which a security interest may be perfected only by
possession or control (which possession or control shall be given to the Administrative Agent to the extent possession or control by the Administrative Agent is required by the Loan Documents) and (iii) upon compliance with federal or state law
with respect to Collateral covered by certificates of title or assignment requirements, the Lien created by the Collateral Documents shall constitute a perfected Lien on, and security interest in, all right, title and interest of the grantors
thereunder in the Collateral, in each case subject to no Liens other than Permitted Liens. 
 (b) Intellectual
Property. Set forth on Schedule 5.19(b), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Section 6.02, is a list of all registered or issued Intellectual Property
(including all applications for registration and issuance) owned by each of the Loan Parties (including the current owner, registration or application number, and registration or application date and such other information, as may be reasonably
requested by the Administrative Agent). 
 (c) Documents, Instrument, and Tangible Chattel Paper. Set
forth on Schedule 5.19(c), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Section 6.02, is a description of all Documents (as defined in the UCC), Instruments (as
defined in the UCC), and Tangible Chattel Paper (as defined in the UCC) of the Loan Parties (including the Loan Party owning such Document, Instrument and Tangible Chattel Paper and such other information as reasonably requested by the
Administrative Agent). 
 (d) Deposit Accounts, Electronic Chattel Paper, Letter-of-Credit Rights, and
Securities Accounts. 
 (i) Set forth on Schedule 5.19(d)(i), as of the Closing Date and as of
the last date such Schedule was required to be updated in accordance with Section 6.02, is a description of all Deposit Accounts (as defined in the UCC) and Securities Accounts (as defined in the UCC) of the Loan Parties, including the
name of (A) the applicable Loan Party, (B) in the case of a Deposit Account, the depository institution and average amount held in such Deposit Account and whether such account is a ZBA account or a payroll

  
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account, and (C) in the case of a Securities Account, the Securities Intermediary (as defined in the UCC) or issuer and the average aggregate market value held in such Securities Account, as
applicable. 
 (ii) Set forth on Schedule 5.19(d)(ii), as of the Closing Date and as of the last date
such Schedule was required to be updated in accordance with Section 6.02, is a description of all Electronic Chattel Paper and Letter of Credit Rights of the Loan Parties, including the name of (A) the applicable Loan Party,
(B) in the case of Electronic Chattel Paper, the account debtor and (C) in the case of Letter-of-Credit Rights, the issuer or nominated person, as applicable. 

(e) Commercial Tort Claims. Set forth on Schedule 5.19(e), as of the Closing Date and as of the last
date such Schedule was required to be updated in accordance with Section 6.02, is a description of all Commercial Tort Claims (as defined in the UCC) of the Loan Parties (detailing such Commercial Tort Claim in such detail as reasonably
requested by the Administrative Agent). 
 (f) Pledged Equity Interests. Set forth on
Schedule 5.19(f), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Section 6.02, is a list of (i) all Pledged Equity and (ii) all other Equity Interests
required to be pledged to the Administrative Agent pursuant to the Collateral Documents (in each case, detailing the Grantor (as defined in the Security Agreement), the Person whose Equity Interests are pledged, the number of shares of each class of
Equity Interests, the certificate number and percentage ownership of outstanding shares of each class of Equity Interests and the class or nature of such Equity Interests (i.e. voting, non-voting, preferred, etc.). 

(g) Properties. Set forth on Schedule 5.19(g), as of the Closing Date and as of the last date such
Schedule was required to be updated in accordance with Section 6.02, is a list of (i) each headquarter location of the Loan Parties, (ii) each other location where any significant administrative or governmental functions are
performed, (iii) each other location where the Loan Parties maintain any books or records (electronic or otherwise) and (iv) each location where any personal property Collateral is located at any premises owned or leased by a Loan Party
with a Collateral value in excess of $10,000,000 (in each case, including (A) an indication if such location is leased or owned, (B), if leased, the name of the lessor, and if owned, the name of the Loan Party owning such property, (C) the
address of such property (including, the city, county, state and zip code) and (D) to the extent owned, the approximate fair market value of such property). 

(h) Material Contracts. Set forth on Schedule 5.19(h), as of the Closing Date and as of the last date
such Schedule was required to be updated in accordance with Section 6.02, is a complete and accurate list of all Material Contracts of the Borrower and its Subsidiaries. 

 

	5.20	Use of Proceeds. 

The proceeds of the Loans shall be used in a manner consistent with the uses set forth in Section 6.11. 

  
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	5.21	Intellectual Property; Licenses, Etc. 

 Each Loan Party and each of its Subsidiaries own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other
intellectual property rights that are reasonably necessary for the operation of their respective businesses, to the Borrower’s knowledge without conflict with the rights of any other Person. To the best knowledge of the Borrower, no slogan or
other advertising device, product, process, method, substance, part or other material now employed, by any Loan Party or any of its Subsidiaries infringes upon any rights held by any other Person. No claim or litigation regarding any of the
foregoing is pending or, to the best knowledge of the Borrower, threatened, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

 

	5.22	OFAC. 

 No Loan
Party, nor, to the knowledge of any Loan Party, any Related Party, (a) is currently the subject of any Sanctions, (b) is located, organized or residing in any Designated Jurisdiction, or (c) is or has been (within the previous five
(5) years) engaged in any transaction with any Person who is now or was then the subject of Sanctions or who is located, organized or residing in any Designated Jurisdiction. No Loan, nor the proceeds from any Loan, has been used, directly or
indirectly, to lend, contribute, provide or has otherwise made available to fund any activity or business in any Designated Jurisdiction or to fund any activity or business of any Person located, organized or residing in any Designated Jurisdiction
or who is the subject of any Sanctions, or in any other manner that will result in any violation by any Person (including any Lender, Arranger, Administrative Agent, L/C Issuer or Swingline Lender) of Sanctions. 

 

	5.23	Regulatory Matters. 

 (a) Schedule 5.23 sets forth, as of the Closing Date, a complete and correct list of all Registrations material to generating revenue of the business of any Loan Party (other than state licenses
for marketing and distribution of radio label medical products) held by each Loan Party and its Subsidiaries. As of the Closing Date, such listed Registrations are the only Registrations that are required for the Loan Parties and their Subsidiaries
to substantially conduct their respective businesses as presently conducted or as proposed to be conducted, in each case in all material respects. Each Loan Party and its Subsidiaries has, and it and its Products are in conformance with, all
Registrations required to conduct its respective businesses as now conducted (including after giving effect to the Allos Acquisition) except where the failure to have such Registrations would not reasonably be expected to have, either individually
or in the aggregate, a Material Adverse Effect. To the knowledge of each Loan Party, neither the FDA nor other Governmental Authority is considering limiting, suspending, or revoking such Registrations or changing the marketing classification or
labeling or other significant parameter affecting the Products of the Loan Parties or any of their respective Subsidiaries which could reasonably be expected to have a Material Adverse Effect. To the knowledge of each Loan Party, there is no
materially false or misleading information or significant omission in any product application or other submission to the FDA or other Governmental Authority administering Public Health Laws. The Loan Parties and their respective Subsidiaries have
fulfilled and performed their obligations under each Registration, and no event has occurred or condition or state of facts exists which would constitute a breach or default, or would cause revocation or termination of any such Registration, except
where such failure to fulfill or perform or such breach or default could not reasonably be expected to have a Material Adverse Effect. To the knowledge of each Loan Party and its Subsidiaries, no event has occurred or condition or state of facts
exists which would 

  
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present potential product liability related, in whole or in part, to Regulatory Matters which could reasonably be expected to have a Material Adverse Effect. To the knowledge of each Loan Party
and its Subsidiaries, any third party that is a manufacturer or contractor for the Loan Parties or any of their respective Subsidiaries is in compliance with all Registrations required by the FDA or comparable Governmental Authority and all Public
Health Laws insofar as they reasonably pertain to the Products of the Loan Parties and their respective Subsidiaries, except where such failure could not reasonably be expected to have a Material Adverse Effect. 

(b) All Products designed, developed, investigated, manufactured, held, prepared, assembled, packaged, tested, labeled,
distributed, sold or marketed by or on behalf of the Loan Parties or their respective Subsidiaries that are subject to Public Health Laws have been and are being developed, manufactured, held, labeled, distributed, sold and marketed in compliance in
all material respects with the Public Health Laws. 
 (c) As of the Closing Date, no Loan Party nor its
Subsidiaries is subject to any obligation arising under an administrative or regulatory action, proceeding, investigation or inspection by or on behalf of a Governmental Authority, warning letter, notice of violation letter, consent decree, untitled
letter, corporate integrity agreement, and, to the knowledge of each Loan Party, no such obligation has been threatened. There is no, and there is no act, omission, event, or circumstance of which any Loan Party or any of its Subsidiaries has
knowledge that would reasonably be expected to give rise to or lead to any, civil, criminal or administrative action, suit, demand, claim, complaint, hearing, investigation, demand letter, warning letter, proceeding or request for information
pending against any Loan Party or its Subsidiaries, and, to each Loan Party’s knowledge, no Loan Party nor its Subsidiaries has any liability (whether actual or contingent) for failure to comply with any Public Health Laws which could not
reasonably be expected to have a Material Adverse Effect. There has not been any violation of any Public Health Laws by any Loan Party or its Subsidiaries in its product development efforts, submissions, record keeping and reports to the FDA or any
other Governmental Authority that could reasonably be expected to require or lead to investigation, corrective action or enforcement, regulatory or administrative action that would reasonably be expected, in the aggregate, have a Material Adverse
Effect. To the knowledge of each Loan Party, there are no civil or criminal proceedings or investigations relating to any Loan Party or any of its Subsidiaries or any officer, director or employee of any Loan Party or Subsidiary of any Loan Party
that involve a matter within or related to the FDA’s or any other Governmental Authority’s jurisdiction that would reasonably be expected to have a Material Adverse Effect. 

(d) As of the Closing Date, no Loan Party nor its Subsidiaries is undergoing any inspection related to Regulatory Matters.

 (e) To each Loan Party’s knowledge, during the period of three calendar years immediately preceding the
Closing Date, no Loan Party nor any Subsidiary of any Loan Party has introduced into commercial distribution any Products manufactured by or on behalf of any Loan Party or any Subsidiary of a Loan Party or distributed any products on behalf of
another manufacturer that were upon their shipment by any Loan Party or any of its Subsidiaries adulterated or misbranded in violation of 21 U.S.C. § 331. No Product has been seized, withdrawn, recalled, detained, or subject to a
suspension (other than in the ordinary course of business) of research, manufacturing, distribution, or commercialization activity, and there are no facts or circumstances reasonably likely to cause (i) the seizure, denial, withdrawal, recall,
detention, public health notification, safety alert or suspension of manufacturing or other activity 

  
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relating to any Product; (ii) a change in the labeling of any Product suggesting a compliance issue or risk; or (iii) a termination, seizure or suspension of manufacturing, researching,
distributing or marketing of any Product, in each case which could not reasonably be expected to have a Material Adverse Effect. No proceedings in the United States or any other jurisdiction seeking the withdrawal, recall, revocation, suspension,
import detention, or seizure of any Product are pending or threatened against any Loan Party or any of its Subsidiaries, which could not reasonably be expected to have a Material Adverse Effect. 

(f) No Loan Party nor any Subsidiary of any Loan Party nor any of their respective officers, directors, employees, agents,
or contractors (in the case of agents and contractors, to the knowledge of the Loan Parties) (i) have been excluded or debarred from any federal or state healthcare program (including without limitation Medicare or Medicaid) or any other
federal program or (ii) have received notice from the FDA or any other Governmental Authority with respect to debarment or disqualification of any Person that would reasonably be expected to have, in the aggregate, a Material Adverse Effect.
Except to the extent the same could not reasonably be expected to have a Material Adverse Effect, no Loan Party nor any Subsidiary of any Loan Party nor any of their respective officers, directors, employees, agents or contractors have been
convicted of any crime or engaged in any conduct for which (x) debarment is mandated or permitted by 21 U.S.C. § 335a or (y) such Person could be excluded from participating in the federal health care programs under Section 1128
of the Social Security Act or any similar law. No officer and to the knowledge of each Loan Party and its Subsidiaries, no employee or agent of any Loan Party or its Subsidiaries, has (A) made any untrue statement of material fact or fraudulent
statement to the FDA or any other Governmental Authority; (B) failed to disclose a material fact required to be disclosed to the FDA or any other Governmental Authority; or (C) committed an act, made a statement, or failed to make a
statement that would reasonably be expected to provide the basis for the FDA or any other Governmental Authority to invoke its policy respecting “Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities,” as set forth in
56 Fed. Reg. 46191 (September 10, 1991). 
 (g) No Loan Party nor any Subsidiary of any Loan Party has granted
rights to design, develop, manufacture, produce, assemble, distribute, license, prepare, package, label, market or sell its Products to any other Person nor is any Loan Party or any of its Subsidiaries bound by any agreement that affects any Loan
Party’s exclusive right to design, develop, manufacture, produce, assemble, distribute, license, prepare, package, label, market or sell its Products. 
 (h) Except as set forth on Schedule 5.23 or as could reasonably be expected to have a Material Adverse Effect: (i) each Loan Party and its Subsidiaries and, to their knowledge, their
respective contract manufacturers are, and have been for the past three years, in compliance with, and each Product in current commercial distribution is designed, manufactured, packaged, labeled, serviced and held in compliance with, the current
Good Manufacturing Practice regulations set forth in 21 C.F.R. Parts 210 and 211, as applicable, (ii) each Loan Party and its Subsidiaries is in compliance with the written procedures, record-keeping and reporting requirements required by the
FDA or any comparable Governmental Authority pertaining to the reporting of adverse events and recalls involving the Products, (iii) all Products are and have been labeled, promoted, and advertised in accordance with their Registration and
approved labeling or within the scope of an exemption from obtaining such Registration, and (iv) each Loan Party and its Subsidiaries’ establishments are registered with the FDA, as applicable, and each Product is listed with the FDA under
the applicable FDA registration and adverse event reporting regulations for pharmaceuticals. 

  
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 ARTICLE VI 
 AFFIRMATIVE COVENANTS 
 Each of the Loan Parties hereby covenants and
agrees that on the Closing Date and thereafter until the Facility Termination Date, such Loan Party shall, and shall cause each of its Subsidiaries to: 
  

	6.01	Financial Statements. 

 Deliver to the Administrative Agent (for itself and each Lender), in form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders: 

(a) Audited Financial Statements. Within ninety (90) days after the end of each fiscal year of the Borrower
(or, if later on, the date required to be filed with the SEC (giving effect to any extension permitted by the SEC)), a Consolidated and, if requested by the Administrative Agent or the Required Lenders after the consummation of a Permitted
Acquisition, consolidating balance sheet of the Target of such Permitted Acquisition (or such Target’s operations) as at the end of such fiscal year, and the related Consolidated and, if applicable, consolidating statements of income or
operations, changes in shareholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year (to the extent available), all in reasonable detail and prepared in
accordance with GAAP, (i) such Consolidated statements to be audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Required Lenders, which
report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such
audit (other than in the fiscal year ending 2013 solely as a result of the impending Maturity Date of the Revolving Loans), and (ii) such consolidating statements to be certified by the chief executive officer, chief financial officer,
treasurer or controller that is a Responsible Officer of the Borrower to the effect that such statements are fairly stated in all material respects when considered in relation to the Consolidated financial statements of the Borrower and its
Subsidiaries. 
 (b) Quarterly Financial Statements. Within forty-five (45) days after the end of
each of the first three (3) fiscal quarters of each fiscal year of the Borrower (or, if earlier, five (5) days after the date required to be filed with the SEC (without giving effect to any extension permitted by the SEC)), a Consolidated
and, if requested by the Administrative Agent or the Required Lenders after the consummation of a Permitted Acquisition, consolidating balance sheet of the Target of such Permitted Acquisition (or such Target’s operations) as at the end of such
fiscal quarter, and the related Consolidated and, if applicable, consolidating statements of income or operations, changes in shareholders’ equity and cash flows for such fiscal quarter and for the portion of the Borrower’s fiscal year
then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year (to the extent available) and the corresponding portion of the previous fiscal year (to the extent available),
all in reasonable detail and prepared in accordance with GAAP, (i) such Consolidated Statements to be certified by the chief executive officer, chief financial officer, treasurer or controller who is a Responsible Officer of the Borrower as
fairly presenting in all material respects the financial condition, results of operations, shareholders’ equity and cash flows of the Borrower and its Subsidiaries, subject only to normal year-end audit adjustments and the absence of footnotes,
and (ii) such consolidating statements to be certified by the chief executive officer, chief financial 

  
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officer, treasurer or controller who is a Responsible Officer of the Borrower to the effect that such statements are fairly stated in all material respects when considered in relation to the
Consolidated financial statements of the Borrower and its Subsidiaries. 
 (c) Business Plan and Budget.
Within sixty (60) days after the end of each fiscal year of the Borrower, an annual business plan and budget of the Borrower and its Subsidiaries on a Consolidated basis, including forecasts prepared by management of the Borrower, in form
consistent with the business plan and budget delivered to the Administrative Agent prior to the Closing Date or otherwise reasonably satisfactory to the Administrative Agent and the Required Lenders, of Consolidated balance sheets and statements of
income or operations and cash flows of the Borrower and its Subsidiaries on a quarterly basis for the immediately following fiscal year. 
 For
the avoidance of doubt, the Administrative Agent and the Lenders hereby acknowledge that any financial statement filed with the SEC is satisfactory in form and detail. As to any information contained in materials furnished pursuant to
Section 6.02(f), the Borrower shall not be separately required to furnish such information under Section 6.01(a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to
furnish the information and materials described in Sections 6.01(a) and (b) above at the times specified therein. 
  

	6.02	Certificates; Other Information. 

 Deliver to the Administrative Agent (for itself and each Lender): 

(a) Compliance Certificate. Concurrently with the delivery of the financial statements referred to in Sections
6.01(a) and (b), a duly completed Compliance Certificate, in form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders, signed by the chief executive officer, chief financial officer, treasurer or
controller which is a Responsible Officer of the Borrower. 
 (b) Updated Schedules. Concurrently with the
delivery of the Compliance Certificate referred to in Section 6.02(a), the following updated Schedules to this Agreement, in form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders, (which may be
attached to the Compliance Certificate) to the extent required to make the representation related to such Schedule true and correct as of the date of such Compliance Certificate: Schedules 5.10, 5.18(a), 5.18(b), 5.19(b),
5.19(c), 5.19(d)(i), 5.19(d)(ii), 5.19(e), 5.19(f), 5.19(g) and 5.19(h). 
 (c) Calculations. Concurrently with the delivery of the Compliance Certificate referred to in Section 6.02(a) required to be delivered with the financial statements referred to in
Section 6.01(a), a certificate (which may be included in such Compliance Certificate) including the amount of all Capital Expenditures that were made during the prior fiscal year and demonstrating compliance with the definition of
“Immaterial Subsidiary”, in form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders. 
 (d) Changes in Corporate Structure. Within ten (10) days (or such shorter period as the Administrative Agent may agree) prior to any merger, consolidation, dissolution or other change in
corporate structure of any Loan Party or any of its Subsidiaries permitted pursuant to the terms hereof, provide notice of such change in corporate structure to the Administrative Agent, along with such other information as reasonably requested by
the Administrative Agent, in 

  
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form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders. Provide notice to the Administrative Agent, not less than ten (10) days prior (or such shorter
period of time as agreed to by the Administrative Agent) of any change in any Loan Party’s legal name, state of organization, or organizational existence, in form and detail reasonably satisfactory to the Administrative Agent and the Required
Lenders. 
 (e) Audit Reports; Management Letters; Recommendations. Promptly after any request by the
Administrative Agent or any Lender, copies of any detailed audit reports, final management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of any Loan Party by independent accountants
in connection with the accounts or books of any Loan Party or any of its Subsidiaries, or any audit of any of them. 
 (f) Annual Reports; Etc. Promptly after the same are available, copies of each annual report, proxy or financial statement or other report or communication sent to the stockholders of the Borrower,
and copies of all annual, regular, periodic and special reports and registration statements which the Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, or with any national
securities exchange, and in any case not otherwise required to be delivered to the Administrative Agent pursuant hereto;. 
 (g) Debt Securities Statements and Reports. Promptly after the furnishing thereof, copies of any statement or report furnished to any holder of debt securities of any Loan Party or of any of its
Subsidiaries pursuant to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lenders pursuant to Section 6.01 or any other clause of this Section. 

(h) SEC Notices. Promptly, and in any event within five (5) Business Days after receipt thereof by any Loan
Party or any Subsidiary thereof, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by such
agency regarding financial or other operational results of any Loan Party or any Subsidiary thereof. 
 (i)
Notices. Not later than five (5) Business Days after receipt thereof by any Loan Party or any Subsidiary thereof, copies of all notices, requests and other documents (including amendments, waivers and other modifications) so received
under or pursuant to any instrument, indenture, loan or credit or similar agreement regarding or related to any breach or default by any party thereto or any other event that could materially impair the value of the interests or the rights of any
Loan Party or otherwise have a Material Adverse Effect and, from time to time upon request by the Administrative Agent, such information and reports regarding such instruments, indentures and loan and credit and similar agreements as the
Administrative Agent may reasonably request. 
 (j) Environmental Notice. Promptly after the assertion or
occurrence thereof, notice of any action or proceeding against or of any noncompliance by any Loan Party or any of its Subsidiaries with any Environmental Law or Environmental Permit that could reasonably be expected to have a Material Adverse
Effect. 

  
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 (k) Additional Information. Promptly, such additional information
regarding the business, financial, legal or corporate affairs of any Loan Party or any Subsidiary thereof, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request, in
form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders. 
 Documents required to be delivered pursuant to
Section 6.01(a) or (b) or Section 6.02(f) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been
delivered on the date (a) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 1.01(a); or (b) on which such documents are
posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent);
provided that: (i) the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender upon its request to the Borrower to deliver such paper copies until a written request to cease delivering paper copies
is given by the Administrative Agent or such Lender and (ii) within thirty (30) days of any such posting, the Borrower shall notify the Administrative Agent and each Lender (by fax transmission or other electronic mail transmission) of the
posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper
copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it
or maintaining its copies of such documents. 
 The Borrower hereby acknowledges that (A) the Administrative Agent and/or an Affiliate
thereof may, but shall not be obligated to, make available to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the
Borrower Materials on Debt Domain, IntraLinks, Syndtrak or another similar electronic system (the “Platform”) and (B) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to
receive material non-public information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons’
securities. The Borrower hereby agrees that it will use commercially reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (1) all such Borrower Materials shall be clearly
and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (2) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed
to have authorized the Administrative Agent, any Affiliate thereof, the Arranger, the L/C Issuer and the Lenders to treat such Borrower Materials as not containing any material non-public information (although it may be sensitive and proprietary)
with respect to the Borrower or its securities for purposes of United States federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in
Section 11.07); (3) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (4) the Administrative Agent and the
any Affiliate thereof and the Arranger shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.”

  

	6.03	Notices. 

Promptly, but in any event within three (3) Business Days, notify the Administrative Agent and each Lender: 

  
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 (a) of the occurrence of any Default; 

(b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect; 

(c) of the occurrence of any ERISA Event; 

(d) of any material change in accounting policies or financial reporting practices by any Loan Party or any Subsidiary
thereof, including any determination by the Borrower referred to in Section 2.10(b); 
 (e) of the
commencement of, or any material development in, any litigation or proceeding affecting any Loan Party or its Subsidiaries or any Property or Product of any Loan Party or its Subsidiaries (i) in which the amount of damages claimed against a
Loan Party or any of its Subsidiaries is $5,000,000 (or its equivalent in another currency or currencies) or more, (ii) if adversely determined, would reasonably be expected to have a Material Adverse Effect, (iii) in which the relief
sought is an injunction or other stay of the performance of this Agreement or any other Loan Document, or (iv) alleges potential or actual material violations of any Public Health Law; and 

(f) of (i) any notice that the FDA or any other similar Governmental Authority is limiting, suspending or revoking
any Registration, changing the market classification, distribution, or labeling of the Products of the Loan Parties or their respective Subsidiaries, or considering any of the foregoing; (ii) any Loan Party or any of its Subsidiaries becoming
subject to any administrative or regulatory action, inspection, Form FDA 483 observation, warning letter, notice of violation letter, or untitled letter, or any Product of any Loan Party or any of its Subsidiaries being seized, withdrawn, recalled,
detained, or subject to a suspension of manufacturing, or the commencement of any proceedings in the United States or any other jurisdiction seeking the withdrawal, recall, suspension, import detention, or seizure of any Product are pending or
threatened against the Loan Parties or their respective Subsidiaries; and (iii) any voluntary withdrawal or recall of any Product by any Loan Party or any of its Subsidiaries in an aggregate amount of $5,000,000 or which would, in the
aggregate, have a Material Adverse Effect. 
 Each notice pursuant to this Section 6.03 shall be accompanied by a
statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and to the extent applicable, stating what action the Borrower has taken and proposes to take with respect thereto. Each notice pursuant
to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 
  

	6.04	Payment of Obligations. 

 Pay and discharge as the same shall become due and payable the following (a) all material tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless
the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary; (b) all lawful claims which, if unpaid, would by
law become a Lien (other than a Permitted Lien) upon its property, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower
or such 

  
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Subsidiary; and (c) all Indebtedness in excess of the Threshold Amount (after giving effect to any applicable grace period), unless the same is being contested in good faith by appropriate
proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary. 
  

	6.05	Preservation of Existence, Etc. 

 (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by
Section 7.04 or 7.05; 
 (b) take all reasonable action to maintain all rights, privileges,
permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and 

(c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of
which could reasonably be expected to have a Material Adverse Effect. 
  

	6.06	Maintenance of Properties. 

 (a) Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear, casualty and
condemnation excepted; 
 (b) make all necessary repairs thereto and renewals and replacements thereof except
where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and 
 (c) use the
standard of care typical in the industry in the operation and maintenance of its facilities. 
  

	6.07	Maintenance of Insurance. 

 (a) Maintenance of Insurance. Maintain with financially sound and reputable insurance companies not Affiliates of the Borrower, insurance with respect to its properties and business against loss or
damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts as are customarily carried under similar circumstances by such other Persons. 

(b) Interests. Cause the Administrative Agent to be named as lenders’ loss payee or loss payee, as its
interest may appear, and/or additional insured with respect to any such insurance providing liability coverage or coverage in respect of any Collateral, and cause each provider of any such insurance to agree, by endorsement upon the policy or
policies issued by it or by independent instruments furnished to the Administrative Agent that it will give the Administrative Agent thirty (30) days prior written notice before any such policy or policies shall be altered or cancelled (or ten
(10) days prior notice in the case of cancellation due to the nonpayment of premiums). Annually, upon expiration of current insurance coverage, the Loan Parties shall provide, or cause to be provided, to the Administrative Agent
(i) certified copies of such insurance policies to the extent requested by the Administrative Agent, (ii) evidence of such 

  
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insurance policies (including, without limitation and as applicable, ACORD Form 28 certificates (or similar form of insurance certificate), and ACORD Form 25 certificates (or similar form of
insurance certificate)), (iii) declaration pages for each insurance policy and (iv) lender’s loss payable endorsement if the Administrative Agent for the benefit of the Secured Parties is not on the declarations page for such policy.

  

	6.08	Compliance with Laws. 

 Comply with the requirements of all Laws, all orders, writs, injunctions and decrees applicable to it or to its business or property, and all Permits (including, without limitation, all Registrations) of
any Governmental Authority having jurisdiction over it, its business or its Products, except in each case, in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by
appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. Without limiting the generality of the foregoing, each Loan Party and its Subsidiaries
shall comply with all Public Health Laws and their implementation by any applicable Governmental Authority and all lawful requests of any Governmental Authority applicable to its Products except in each case where such failure could not reasonably
be expected to have a Material Adverse Effect. All Products developed, manufactured, tested, distributed or marketed by or on behalf of any Loan Party or any of its Subsidiaries that are subject to the jurisdiction of the FDA or comparable
Governmental Authority shall be developed, tested, manufactured, distributed and marketed in compliance with the Public Health Laws and any other requirements of Law, including, without limitation, product approval or premarket notification, good
manufacturing practices, labeling, advertising, record-keeping, and adverse event reporting, and have been and are being tested, investigated, distributed, marketed, and sold in compliance with Public Health Laws and all other requirements of Law
except in each case where such failure could not reasonably be expected to have a Material Adverse Effect. 
  

	6.09	Books and Records. 

 (a) Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the
assets and business of such Loan Party or such Subsidiary, as the case may be; and 
 (b) maintain such books of
record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over such Loan Party or such Subsidiary, as the case may be. 

 

	6.10	Inspection Rights. 

 Permit representatives and independent contractors of the Administrative Agent to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies
thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at the expense of the Borrower and at such reasonable times during normal business hours and as
often as may be reasonably desired, upon reasonable advance notice to the Borrower; provided, however, that when an Event of Default exists the Administrative Agent or any Lender (or any of their respective representatives or
independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and without advance notice; provided further, that unless an 

  
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Event of Default has occurred and is continuing, only one such visit per fiscal year shall be at the Borrower’s expense. 

 

	6.11	Use of Proceeds. 

Use the proceeds of the Credit Extensions to (a) finance in part the Allos Acquisition, (b) repay the existing Indebtedness set
forth on Schedule 4.01(k), (c) pay fees and expenses in connection with the Transaction, and (d) provide ongoing working capital and for general corporate purposes not in contravention of any Law or of any Loan Document. 

 

	6.12	Compliance with Environmental Laws. 

 Except, in any case, where the failure to do so, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect: (a) comply, and cause all lessees and
other Persons operating or occupying its properties to comply with all applicable Environmental Laws and Environmental Permits; (b) obtain and renew all Environmental Permits necessary for its operations and properties; and (c) conduct any
investigation, study, sampling and testing, and undertake any cleanup, removal, remedial or other action necessary to remove and clean up all Hazardous Materials from any of its properties, in accordance with the requirements of and to the extent
required by all Environmental Laws; provided, however, that neither the Borrower nor any of its Subsidiaries shall be required to undertake any such cleanup, removal, remedial or other action to the extent that its obligation to do so
is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP. 
  

	6.13	Material Contracts. 

Perform and observe all the terms and provisions of each Material Contract to be performed or observed by it, maintain each such Material
Contract in full force and effect, enforce each such Material Contract in accordance with its terms, except, in any case, where the failure to do so, either individually or in the aggregate, could not reasonably be expected to have a Material
Adverse Effect. 
  

	6.14	Covenant to Guarantee Obligations. 

 (a) The Loan Parties will cause (i) each of their Subsidiaries (other than any Excluded Subsidiaries) whether newly formed, after acquired or otherwise existing to promptly (and in any event within
thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement and
(ii) each Excluded Subsidiary and any other Subsidiary that is not a party to the Intercompany Subordination Agreement, whether newly formed, after acquired or otherwise existing to promptly (and in any event within thirty (30) days after
such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a party to the Intercompany Subordination Agreement by way of execution of a Joinder Agreement. In
connection therewith, the Loan Parties shall give notice to the Administrative Agent not less than ten (10) days prior to creating a Subsidiary (or such shorter period of time as agreed to by the Administrative Agent in its reasonable
discretion), or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same
documentation required pursuant to Sections 4.01(b) through (f) and 6.15 and such other documents or agreements as the Administrative Agent may reasonably request. 

  
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 (b) If Allos is not required to become a Guarantor on the Closing Date in accordance with
Section 4.01(l), then within thirty (30) days of the date on which Allos becomes a wholly-owned Subsidiary of the Borrower, the Borrower shall cause Allos to become a Guarantor hereunder by way of execution of a Joinder Agreement.
In connection therewith, the Borrower shall deliver (or cause to be delivered) to the Administrative Agent substantially the same documentation required by Sections 4.01(b) through (f) and 6.15 and such other documents or
agreements as the Administrative Agent may reasonably request. 
  

	6.15	Covenant to Give Security. 

 Except with respect to Excluded Property: 
 (a) Equity Interests
and Personal Property. Each Loan Party will cause the Pledged Equity and all of its tangible and intangible personal property now owned or hereafter acquired by it to be subject at all times to a first priority, perfected Lien (subject to
Permitted Liens to the extent permitted by the Loan Documents) in favor of the Administrative Agent for the benefit of the Secured Parties to secure the Secured Obligations pursuant to, and only to the extent required by, the terms and conditions of
the Collateral Documents; provided that (x) no Loan Party shall be required to execute local foreign law pledges in respect of the pledge of Equity Interests of any Foreign Subsidiary that is an Immaterial Subsidiary and (y) no Loan Party
shall be required to cause its Intellectual Property to be subject to a perfected Lien other than Intellectual Property for which a perfected Lien is effected either by filing of a Uniform Commercial Code financing statement or by appropriate
evidence of such Lien being filed in either the United States Copyright Office or the United States Patent and Trademark Office. Each Loan Party shall provide opinions of counsel, if requested by the Administrative Agent, and any filings and
deliveries reasonably necessary in connection therewith to perfect the security interests therein, all in form and substance reasonably satisfactory to the Administrative Agent. 

(b) Landlord Waivers. In the case of (i) each headquarter location of the Loan Parties, each other location
where any significant administrative or governmental functions are performed and each other location where the Loan Parties maintain any books or records (electronic or otherwise) and (ii) any personal property Collateral located at any other
premises leased by a Loan Party containing personal property Collateral with a value in excess of $10,000,000, the Loan Parties will provide the Administrative Agent with such estoppel letters, consents and waivers from the landlords on such real
property to the extent (A) requested by the Administrative Agent and (B) the Loan Parties are able to secure such letters, consents and waivers after using commercially reasonable efforts (such letters, consents and waivers shall be in
form and substance reasonably satisfactory to the Administrative Agent, it being acknowledged and agreed that any landlord waiver in the form of Exhibit N is reasonably satisfactory to the Administrative Agent). 

 

	6.16	Further Assurances. 

Promptly upon request by the Administrative Agent, or any Lender through the Administrative Agent, (a) correct any material defect or
error that may be discovered in any Loan Document or in the execution, acknowledgment, filing or recordation thereof, and (b) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further
acts, deeds, certificates, assurances and other instruments as the Administrative Agent, or any Lender through the Administrative Agent, may reasonably require from time to time in order to (i) carry out more effectively the purposes of the
Loan Documents, (ii) to the fullest extent permitted by applicable Law, subject any Loan Party’s or any of its Subsidiaries’ properties, assets, rights or interests to the Liens now or hereafter intended to be

  
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covered by any of the Collateral Documents, (iii) subject to the limitations on perfecting and protecting Liens set forth herein and in the other Loan Documents, perfect and maintain the
validity, effectiveness and priority of any of the Collateral Documents and any of the Liens intended to be created thereunder and (iv) assure, grant, preserve, protect and confirm more effectively unto the Secured Parties the rights granted or
now or hereafter intended to be granted to the Secured Parties under any Loan Document or under any other instrument executed in connection with any Loan Document to which any Loan Party or any of its Subsidiaries is or is to be a party, and cause
each of its Subsidiaries to do so. 
  

	6.17	Cash Collateral Accounts. 

 Maintain, and cause each of the other Loan Parties to maintain, all Cash Collateral Accounts as required by Section 2.14 and otherwise with Bank of America or another commercial bank located
in the United States, which has acknowledged the assignment and grant of control of such accounts to the Administrative Agent for the benefit of the Secured Parties pursuant to the terms of the Security Agreement. 

 

	6.18	Allos Acquisition.  

 (a) At all times after the occurrence of the Acceptance Time until the occurrence of the Effective Time (as each such capitalized term is defined in the Allos Acquisition Agreement), (i) Merger Sub
shall be a wholly-owned Subsidiary of the Borrower, (ii) the Company (as defined in the Allos Acquisition Agreement) shall be a Subsidiary of Merger Sub, and (iii) Merger Sub shall not sell, transfer, assign or
otherwise dispose of any Company Common Stock (as defined in the Allos Acquisition Agreement) it purchases on or after the Acceptance Time until the occurrence of Step Two of the Allos Acquisition. 

(b) Step Two of the Acquisition shall occur not less than one hundred twenty (120) Business Days (or such later
date as the Administrative Agent may agree to in its sole discretion) after the initial Credit Extension by the Lenders. 

(c) At all times after the occurrence of the Acceptance Time until the occurrence of the Effective Time, Merger Sub shall deliver to the
Administrative Agent each agreement, instrument or document executed and/or delivered in connection with the Allos Acquisition, including, but not limited to any agreement, instrument or document related to any Subsequent Offering
Period or the Top-Up.
 ARTICLE VII 
 NEGATIVE COVENANTS 
 Each of the Loan Parties hereby covenants and agrees
that on the Closing Date and thereafter until the Facility Termination Date, no Loan Party shall, nor shall it permit any Subsidiary to, directly or indirectly: 
  

	7.01	Liens. 

 Create,
incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, except for the following (the “Permitted Liens”): 

(a) Liens pursuant to any Loan Document; 

  
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 (b) Liens existing on the Closing Date and listed on Schedule 7.01
(including the Biogen Lien) and any renewals or extensions thereof; provided that (i) the property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased except as contemplated by
Section 7.02(b), (iii) the direct or any contingent obligor with respect thereto is not changed, and (iv) any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.02(b);

 (c) Liens for taxes (i) not yet delinquent, (ii) in respect of amounts not in excess of $250,000 in
the aggregate or (iii) which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP;

 (d) Statutory Liens such as carriers’, warehousemen’s, mechanics’, materialmen’s,
repairmen’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than sixty (60) days, in respect of amounts not in excess of $100,000 in the aggregate, or which are being contested in
good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person; provided that a reserve or other appropriate provision shall have been made
therefor; 
 (e) pledges or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA; 
 (f) deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like
nature incurred in the ordinary course of business; 
 (g) easements, rights-of-way, restrictions and other
similar encumbrances affecting real property which, in the aggregate, are not substantial in amount, and which do not materially interfere with the ordinary conduct of the business of the applicable Person; 

(h) Liens securing judgments for the payment of money (or appeal or other surety bonds relating to such judgments) not
constituting an Event of Default under Section 8.01(h); 
 (i) Liens securing Indebtedness permitted
under Section 7.02(c); provided that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or
fair market value, whichever is lower, of the property being acquired on the date of acquisition; 
 (j)
bankers’ Liens, rights of setoff and other similar Liens existing solely with respect to cash and Cash Equivalents on deposit in one or more accounts maintained by the Borrower or any of its Subsidiaries with any Lender, in each case in the
ordinary course of business in favor of the bank or banks with which such accounts are maintained, securing solely the customary amounts owing to such bank with respect to cash management and operating account arrangements; provided, that in
no case shall any such Liens secure (either directly or indirectly) the repayment of any Indebtedness; 
 (k)
Liens arising out of judgments or awards not resulting in an Event of Default; provided the applicable Loan Party or Subsidiary shall in good faith be prosecuting an appeal or proceedings for review; 

  
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 (l) Any interest or title of a lessor, sublessor, licensor, sublessor or
sublicensor under any lease, license, sublease or sublicense entered into by any Loan Party or any Subsidiary thereof and covering only the assets so leased, licensed, subleased or sublicensed; 

(m) Liens of a collection bank arising under Section 4-210 of the UCC on items in the course of collection;

 (n) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect
thereto; 
 (o) Liens attaching solely to cash earnest money deposits in connection with any letter of intent or
purchase agreement in connection with a Permitted Acquisition; 
 (p) to the extent constituting a Lien, the
filing of UCC (or equivalent) financing statements solely as a precautionary measure in connection with operating leases or consignment of goods; and 
 (q) other Liens securing Indebtedness outstanding in an aggregate principal amount not to exceed $5,000,000, provided that no such Lien shall extend to or cover any Collateral. 

 

	7.02	Indebtedness. 

Create, incur, assume or suffer to exist any Indebtedness, except: 

(a) the Obligations; 
 (b) Indebtedness outstanding on the date hereof and listed on Schedule 7.02 and any refinancings, refundings, renewals or extensions thereof; provided that the amount of such
Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such
refinancing and by an amount equal to any existing commitments unutilized thereunder and the direct or any contingent obligor with respect thereto is not changed, as a result of or in connection with such refinancing, refunding, renewal or
extension; provided, further, that the terms relating to principal amount, amortization, maturity, collateral (if any) and subordination, standstill and related terms (if any), and other material terms taken as a whole, of any such
refinancing, refunding, renewing or extending Indebtedness, and of any agreement entered into and of any instrument issued in connection therewith, are no less favorable in any material respect to the Loan Parties or the Lenders than the terms of
any agreement or instrument governing the Indebtedness being refinanced, refunded, renewed or extended and the interest rate applicable to any such refinancing, refunding, renewing or extending Indebtedness does not exceed the then applicable market
interest rate as reasonably determined by the Borrower; 
 (c) Indebtedness in respect of Capitalized Leases,
Synthetic Lease Obligations and purchase money obligations for fixed or capital assets within the limitations set forth in Section 7.01(i); provided, however, that the aggregate amount of all such Indebtedness at any one
time outstanding shall not exceed $2,000,000; 

  
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 (d) unsecured Indebtedness of a Subsidiary of the Borrower owed to the
Borrower or a Guarantor, which Indebtedness shall (i) to the extent required by the Administrative Agent, be evidenced by promissory notes which shall be pledged to the Administrative Agent as Collateral for the Secured Obligations in
accordance with the terms of the Security Agreement, (ii) be subject to the Intercompany Subordination Agreement and (iii) be otherwise permitted under the provisions of Section 7.03 (“Intercompany Debt”);

 (e) Guarantees of the Borrower or any Subsidiary in respect of Indebtedness otherwise permitted hereunder of
the Borrower or any other Subsidiary; provided that guarantees by any Loan Party of the obligations of any Subsidiary that is not a Loan Party shall be subject to Section 7.03(c) and the aggregate amount of all such guarantees, when
taken together with all Investments made pursuant to Section 7.03(c), shall not to exceed $20,000,000 at any time; 
 (f) Indebtedness of any Person that becomes a Subsidiary of the Borrower after the date hereof in a transaction permitted hereunder in an aggregate principal amount not to exceed $10,000,000;
provided that such Indebtedness is existing at the time such Person becomes a Subsidiary of the Borrower and was not incurred solely in contemplation of such Person’s becoming a Subsidiary of the Borrower); 

(g) Indebtedness consisting of Earnout Payments incurred by the Borrower or a Subsidiary in connection with the Allos
Acquisition or a Permitted Acquisition and the portion of the Allos Acquisition purchase price payable upon Step Two of the Allos Acquisition; 
 (h) obligations (contingent or otherwise) existing or arising under any Swap Contract, provided that (i) such obligations are (or were) entered into by such Person in the ordinary course of
business for the purpose of directly mitigating risks associated with fluctuations in interest rates or foreign exchange rates and (ii) such Swap Contract does not contain any provision exonerating the non-defaulting party from its obligation
to make payments on outstanding transactions to the defaulting party; 
 (i) Indebtedness owed to any Cash
Management Bank in respect of any overdraft and related liabilities arising from Cash Management Agreements, in each case in connection with deposit accounts incurred in the ordinary course; 

(j) Indebtedness consisting of the financing of insurance premiums in the ordinary course of business; 

(k) surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of
business; 
 (l) Indebtedness under that certain Irrevocable Letter of Credit (No. IS0000685) issued by Wells
Fargo Bank, N.A. to the Borrower for the benefit of The Irvine Company LLC, dated June 7, 2012, in the face amount of $500,000, until the expiry date of June 7, 2013; and 

(m) other unsecured Indebtedness in an aggregate principal amount not to exceed $10,000,000 at any time outstanding;
provided that the Loan Parties are in Pro Forma Compliance with each of the financial covenants set forth in Section 7.11. 

  
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	7.03	Investments. 

 Make
or hold any Investments, except: 
 (a) Investments held by the Borrower and its Subsidiaries in the form of cash
or Cash Equivalents; 
 (b) advances to officers, directors and employees of the Borrower and Subsidiaries in an
aggregate amount not to exceed $500,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; 
 (c) (i) Investments by the Borrower and its Subsidiaries in their respective Subsidiaries outstanding on the date hereof, (ii) additional Investments by the Borrower and its Subsidiaries in Loan
Parties, (iii) additional Investments by Subsidiaries of the Borrower that are not Loan Parties in other Subsidiaries that are not Loan Parties and (iv) so long as no Default has occurred and is continuing or would result from such
Investment, additional Investments by the Loan Parties in wholly-owned Subsidiaries that are not Loan Parties in an aggregate amount invested from the date hereof, when taken together with all Indebtedness made pursuant to
Section 7.02(e), not to exceed $20,000,000; 
 (d) Investments consisting of extensions of credit in
the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to
the extent reasonably necessary in order to prevent or limit loss; 
 (e) Guarantees permitted by
Section 7.02; 
 (f) Investments existing on the date hereof (other than those referred to in
Section 7.03(c)(i)) and set forth on Schedule 7.03; 
 (g) Investments in Swap Contracts to
the extent permitted pursuant to Section 7.02(h); 
 (h) to the extent deemed to be an Investment,
deposits of cash that constitute Permitted Liens; 
 (i) advances made in connection with purchases of goods or
services by the Loan Parties in the ordinary course of bsiness; 
 (j) Investments received as the non-cash
portion of consideration received in connection with transactions permitted pursuant to Section 7.05; 
 (k) Investments acquired in a Permitted Acquisition to the extent that such Investments were not made in contemplation of or in connection with such Permitted Acquisition and were in existence prior to
the date of such Permitted Acquisition; 
 (l) Investments by the Borrower and its wholly-owned Subsidiaries in
Joint Ventures in an aggregate amount invested from the date hereof not to exceed $10,000,000; 
 (m) the Allos
Acquisition and Permitted Acquisitions; 

  
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 (n) Equity Interests acquired in connection with Restricted Payments
permitted by Section 7.06; 
 (o) Investments consisting of minority investments in publicly traded
Equity Interests in an aggregate amount not to exceed $5,000,000 at any time; and 
 (p) other Investments not
exceeding $10,000,000 in the aggregate in any fiscal year of the Borrower. 
  

	7.04	Fundamental Changes. 

 Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or
hereafter acquired) to or in favor of any Person, except that: 
 (a) any Loan Party (other than the Borrower)
may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower or to another Loan Party; 
 (b) any Subsidiary that is not a Loan Party may dispose of all or substantially all of its assets (including any Disposition that is in the nature of a liquidation) to (i) another Subsidiary that is
not a Loan Party or (ii) to a Loan Party; 
 (c) in connection with any Permitted Acquisition and Step Two
of the Allos Acquisition, any Subsidiary of the Borrower may merge into or consolidate with any other Person or permit any other Person to merge into or consolidate with it; provided that (i) the Person surviving such merger shall be a
wholly-owned Subsidiary of the Borrower and (ii) in the case of any such merger to which any Loan Party (other than the Borrower) is a party, such Loan Party is the surviving Person;and 

(d) so long as no Default has occurred and is continuing or would result therefrom, each of the Borrower and any of its
Subsidiaries may merge into or consolidate with any other Person or permit any other Person to merge into or consolidate with it; provided, however, that in each case, immediately after giving effect thereto (i) in the case of any
such merger to which the Borrower is a party, the Borrower is the surviving corporation and (ii) in the case of any such merger to which any Loan Party (other than the Borrower) is a party, such Loan Party is the surviving corporation.

  

	7.05	Dispositions. 

Make any Disposition or enter into any agreement to make any Disposition, except: 

(a) Permitted Transfers; 
 (b) Dispositions of obsolete, worn out, surplus or used property, whether now owned or hereafter acquired, in the ordinary course of business; 

(c) Dispositions of equipment or real property to the extent that (i) such property is exchanged for credit against
the purchase price of similar replacement property or (ii) the 

  
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proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property; 

(d) Dispositions permitted by Section 7.04; 

(e) Dispositions resulting from casualty or condemnation events; 

(f) the terminating or unwinding of any Swap Contract in accordance with its terms; 

(g) sales or dispositions of a de minimis number of Equity Interests of a Subsidiary in order to qualify members of the
governing body of such Subsidiary if required by applicable; 
 (h) (i) the lapse of registered patents,
trademarks, copyrights and other intellectual property to the extent such Intellectual Property is not economically desirable in the conduct of their business (ii) the abandonments of patent, trademarks, copyrights or other intellectual
property rights in the ordinary course of business, so long as, in each case, such lapse or abandonment is not materially adverse to the interest of the Lenders in their capacities as such; 

(i) Dispositions set forth on Schedule 7.05; and 

(j) other Dispositions so long as (i) the consideration paid in connection therewith shall be cash or Cash
Equivalents paid contemporaneous with consummation of the transaction and shall be in an amount not less than the fair market value of the property disposed of, (ii) such transaction does not involve the sale or other disposition of a minority
Equity Interests in any Subsidiary (other than director’s qualification shares as required by, but only to the extent required by, applicable foreign law), (iii) such transaction does not involve a sale or other disposition of receivables
other than receivables owned by or attributable to other property concurrently being disposed of in a transaction otherwise permitted under this Section, and (iv) the aggregate net book value of all of the assets sold or otherwise disposed of
by the Loan Parties and their Subsidiaries in all such transactions in any fiscal year of the Borrower shall not exceed $5,000,000. 
  

	7.06	Restricted Payments. 

 Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that, so long as no Default shall have occurred and be continuing at the
time of any action described below or would result therefrom (except with respect to clauses (a), (b), (c) or (d)): 
 (a) each Subsidiary may make Restricted Payments to any Person that owns Equity Interests in such Subsidiary, ratably according to their respective holdings of the type of Equity Interest in respect of
which such Restricted Payment is being made; 
 (b) the Borrower and each Subsidiary may declare and make
dividend payments or other distributions payable solely in common Equity Interests of such Person; 
 (c) the
Borrower and each Subsidiary may purchase, redeem or otherwise acquire Equity Interests issued by it with the proceeds received from the substantially concurrent issue of new shares of its common stock or other common Equity Interests; 

  
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 (d) the Borrower or any Subsidiary may pay any dividend or distribution
within 60 days after the date of declaration thereof, if at the date of declaration such payment would have complied with the provisions of this Agreement; 
 (e) the Borrower and each Subsidiary may make Earnout Payments in connection with the Allos Acquisition or a Permitted Acquisition; provided that, if an Event of Default has occurred and is continuing,
the Borrower or such Subsidiary may make such Earnout Payment with the proceeds received from an issuance of Equity Interests; and 
 (f) so long as no Default or Event of Default has occurred and is continuing or would arise as a result of such Restricted Payment and after giving effect to such Restricted Payment on a Pro Forma Basis,
the Loan Parties are in compliance with each of the financial covenants set forth in Section 7.11, Restricted Payments by the Borrower to its shareholders (including, for the avoidance of doubt, shareholder buybacks) in an amount not to
exceed $21,756,997 in the aggregate during the term of this Agreement. 
  

	7.07	Change in Nature of Business. 

 Engage in any material line of business or any material activities substantially different from those lines of business and activities conducted by the Borrower and its Subsidiaries on the date hereof
(after giving effect to the Allos Acquisition) or any business or activity reasonably related or incidental thereto. 
  

	7.08	Transactions with Affiliates. 

 Enter into or permit to exist any transaction or series of transactions with any Affiliate of such Person other than (a) advances of working capital to any Loan Party, (b) transfers of cash and
assets to any Loan Party, (c) intercompany transactions between the Borrower and its Subsidiaries not prohibited by this Agreement, (d) normal and reasonable compensation and reimbursement of expenses of officers and directors,
(e) transactions otherwise permitted by this Agreement, (f) the Transaction, and (g) except as otherwise specifically limited in this Agreement, other transactions which are entered into in the ordinary course of such Person’s
business on fair and reasonable terms and conditions substantially as favorable to such Person as would be obtainable by it in a comparable arms-length transaction with a Person other than an Affiliate. 

 

	7.09	Burdensome Agreements. 

 Enter into, or permit to exist, any Contractual Obligation (except for this Agreement and the other Loan Documents) that (a) encumbers or restricts the ability of any such Person to (i) to
act as a Loan Party; (ii) make Restricted Payments to any Loan Party, (iii) pay any Indebtedness or other obligation owed to any Loan Party, (iv) make loans or advances to any Loan Party, or (v) create any Lien upon any
of their properties or assets, whether now owned or hereafter acquired, except, (x) in the case of clause (a)(v) only, for any document or instrument governing the Indebtedness secured by the Biogen Lien or Indebtedness incurred
pursuant to Section 7.03(c), provided that any such restriction contained therein relates only to the asset or assets constructed or acquired in connection therewith, (y) customary provisions in any Joint Venture agreement
with respect to Joint Ventures otherwise permitted hereunder or (b) requires the grant of any Lien on property for any obligation if a Lien on such property is given as security for the Secured Obligations. 

  
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	7.10	Use of Proceeds. 

Except in connection with the Allos Acquisition and other transactions permitted by Section 7.06, use the proceeds of any
Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or
carrying margin stock or to refund indebtedness originally incurred for such purpose; provided that no part of the proceeds of any Borrowing or drawing under each Letter of Credit will be used for any purpose which violates the provisions of
Regulations U or X. 
  

	7.11	Financial Covenants. 

 (a) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00. 

(b) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio at any time during any Measurement Period
set forth below to be greater than the ratio set forth below opposite such period: 
  

					
	 Measurement Period Ending
	  	Maximum
Consolidated
Leverage Ratio	 
	 Closing Date through September 30, 2012
	  	 	2.00 to 1.00	  
	 December 31, 2012 and each fiscal quarter thereafter
	  	 	1.50 to 1.00	  

 (c) Minimum Liquidity Ratio. Permit the ratio of (i) the sum of
(A) unencumbered cash and Cash Equivalents of the Borrower and its Subsidiaries on a Consolidated basis, plus (B) net accounts receivable of the Borrower and its Subsidiaries on a Consolidated basis, to (ii) Consolidated Funded
Indebtedness as of the end of any fiscal quarter to be less than 2.00 to 1.00. 
  

	7.12	Capital Expenditures. 

 Make or become legally obligated to make any Capital Expenditure, except for Capital Expenditures in the ordinary course of business not exceeding, in the aggregate for the Borrower and its Subsidiaries
during each fiscal year set forth below, the amount set forth opposite such fiscal year: 
  

					
	 Fiscal Year
	  	Amount	 
	 2012
	  	$	3,000,000	  
	 2013
	  	$	3,000,000	  
	 2014
	  	$	3,000,000	  

 ; provided, however, that so long as no Event of Default has occurred and is continuing or would result
from such expenditure, any portion of any amount set forth above, if not expended in the fiscal year for which it is permitted above, may be carried over for expenditure in the next following fiscal year (excluding any carry forward available from
any prior fiscal year); and provided, further, if any such amount is so carried over, it will be deemed used in the applicable subsequent fiscal year before the amount set forth opposite such fiscal year above. 

  
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	7.13	Amendments of Organization Documents; Legal Name, State of Formation and Form of Entity. 

Amend any of its Organization Documents in any respect that has a material and adverse effect on the Lenders. 

 

	7.14	Accounting Changes. 

Make any change in (a) accounting policies or reporting practices, except as required by GAAP, or (b) fiscal year, in each case,
without the consent of the Required Lenders (such consent not to be unreasonably withheld, conditioned or delayed). 
  

	7.15	Prepayments, Etc. of Indebtedness. 

 Prepay, redeem, purchase, defease or otherwise satisfy in violation of any subordination, standstill or collateral sharing terms of or governing any Indebtedness, except (a) the prepayment of the
Credit Extensions in accordance with the terms of this Agreement, and (b) regularly scheduled or required repayments or redemptions of Indebtedness under the Indebtedness set forth in Schedule 7.02 and refinancings and refundings of
such Indebtedness in compliance with Section 7.02(b). 
  

	7.16	Amendment, Etc. of Allos Acquisition Documents and Indebtedness. 

(a) Cancel or terminate any Allos Acquisition Document or consent to or accept any cancellation or termination thereof to
the extent that such cancellation or termination would be materially adverse to the interests of Administrative Agent or any Lender; 
 (b) Amend, modify or change in any manner any term or condition of any Allos Acquisition Document or give any consent, waiver or approval thereunder in any manner materially adverse to the Lenders in
their capacities as lenders, without the consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed); or 
 (c) take any other action in connection with any Allos Acquisition Document that would impair the rights or interests of the Administrative Agent or any Lender. 

 

	7.17	Post-Closing Deliveries. 

 Fail to satisfy any of the requirements set fort on Schedule 7.17 within the time period specified therein (or such later date as may be approved by the Administrative Agent in its sole
discretion). 
 ARTICLE VIII 
 EVENTS OF DEFAULT AND REMEDIES 
  

	8.01	Events of Default. 

Any of the following shall constitute an Event of Default: 

(a) Non-Payment. The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein,
any amount of principal of any Loan or any L/C Obligation or 

  
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deposit any funds as Cash Collateral in respect of L/C Obligations, or (ii) within three (3) Business Days after the same becomes due, any interest on any Loan or on any L/C Obligation,
or any fee due hereunder, or (iii) within five (5) Business Days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or 

(b) Specific Covenants. (i) Any Loan Party fails to perform or observe any term, covenant or agreement
contained in any of Section 6.01, 6.02, 6.03, 6.05, 6.10, 6.11, 6.13, Article VII or Article X or (ii) any of the Loan Parties fails to perform or observe any term, covenant or
agreement contained in Section 7 of the Security Agreement; or 
 (c) Other Defaults. Any Loan Party
fails to perform or observe any other covenant or agreement (not specified in Section 8.01(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for thirty
(30) days; or 
 (d) Representations and Warranties. Any written representation, warranty,
certification or other statement of fact (other than general economic and industry information) made or deemed made by or on behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in
connection herewith or therewith shall be incorrect or misleading in any material respect (except, if a qualifier relating to materiality, Material Adverse Effect or a similar concept applies, such representation, warranty, certification or other
statement of fact shall be true and correct in all respects) when made or deemed made; or 
 (e)
Cross-Default. (i) Any Loan Party or any Subsidiary thereof (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee
(other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit
arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating
thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder
or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to
repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; (ii) there occurs under any Swap Contract an Early
Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is the Defaulting Party (as defined in such Swap Contract) or (B) any
Termination Event (as so defined) under such Swap Contract as to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by such Loan Party or such Subsidiary as a
result thereof is greater than the Threshold Amount; or 
 (f) Insolvency Proceedings, Etc. Any Loan Party
or any Material Subsidiary thereof institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee,
custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, 

  
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rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar days; or any
proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for sixty (60) calendar days, or an order
for relief is entered in any such proceeding; or 
 (g) Inability to Pay Debts; Attachment. (i) Any
Loan Party or any Material Subsidiary thereof becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or
levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within sixty (60) calendar days after its issue or levy; or 

(h) Judgments. There is entered against any Loan Party or any Subsidiary thereof (i) one or more final
judgments or orders for the payment of money in an aggregate amount (as to all such judgments and orders) exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer has been notified of the
potential claim and does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case,
(A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of thirty (30) consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or
otherwise, is not in effect; or 
 (i) ERISA. (i) An ERISA Event occurs with respect to a Pension
Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of any Loan Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of the Threshold
Amount, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a
Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or 
 (j) Invalidity of Loan
Documents. Any material provision of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all Obligations arising under the Loan
Documents, ceases to be in full force and effect; or any Loan Party or any other Person contests in any manner the validity or enforceability of any provision of any Loan Document; or any Loan Party denies that it has any or further liability or
obligation under any material provision of any Loan Document, or purports to revoke, terminate or rescind any provision of any Loan Document; or 
 (k) Change of Control. There occurs any Change of Control; or 
 (l) Collateral Documents. Any Collateral Document after delivery thereof pursuant to Section 4.01 or 6.15 shall for any reason (other than pursuant to the terms hereof and other
than in respect of Collateral sold or otherwise disposed of in accordance with the terms of this Agreement) cease to create a valid Lien in the Collateral purported to be covered thereby and such Lien shall for any reason (other than as a result of
an action taken by the Administrative Agent or the failure of the Administrative Agent to take any action, in each case, within its control) fail to be perfected (to the extent required by the Loan Document) and first priority (subject to Permitted
Liens); or 

  
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 (m) Regulatory Matters. (i) The FDA or any other Governmental
Authority initiates enforcement action against any Loan Party or any of its Subsidiaries, or any suppliers that causes such Loan Party or Subsidiary to recall, withdraw, remove or discontinue marketing any of its Products and such recall, withdraw,
removal or discontinuation could reasonably be expected to have a Material Adverse Effect; (ii) the FDA or any other Governmental Authority issues a warning letter to any Loan Party or any of its Subsidiaries with respect to any Regulatory
Matter which would reasonably be expected, in the aggregate when considered with all other existing and effective warning letters, to have a Material Adverse Effect; (iii) any Loan Party or any of its Subsidiaries conducts a mandated or
voluntary recall which could reasonably be expected to result in aggregate liability and expense to the Loan Parties and their Subsidiaries which reasonably could be expected to have a Material Adverse Effect; or (iv) any Loan Party or any of
its Subsidiaries enters into a settlement agreement with the FDA or any other Governmental Authority that results in aggregate payments in respect of or related to any single or related series of transactions, incidents or conditions, in excess of
the Threshold Amount, or that would reasonably be expected to have a Material Adverse Effect; or 
 (n)
Material Licenses, Permits, and Intellectual Property. A Loan Party suffers the loss, revocation or termination of any license, Permit, Intellectual Property or agreement necessary to its business and such loss, revocation or termination
could reasonably be expected to have a Material Adverse Effect. 
 Without limiting the provisions of Article IX, if a
Default shall have occurred under the Loan Documents, then such Default will continue to exist until it either is cured (to the extent specifically permitted) in accordance with the Loan Documents or is otherwise expressly waived by Administrative
Agent (with the approval of requisite Lenders (in their sole discretion) as determined in accordance with Section 11.01; and once an Event of Default occurs under the Loan Documents, then such Event of Default will continue to exist
until it is expressly waived by the requisite Lenders or by the Administrative Agent with the approval of the requisite Lenders, as required hereunder in Section 11.01. 

 

	8.02	Remedies upon Event of Default. 

 If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions:

 (a) declare the Commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C
Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 
 (b) declare
the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest
or other notice of any kind, all of which are hereby expressly waived by the Borrower; 
 (c) require that the
Borrower Cash Collateralize the L/C Obligations (in an amount equal to the Minimum Collateral Amount with respect thereto); and 
 (d) exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the L/C Issuer under the Loan Documents or applicable Law or equity;

  
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provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, the
obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall
automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender.

  

	8.03	Application of Funds. 

 After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required
to be Cash Collateralized as set forth in the proviso to Section 8.02) or if at any time insufficient funds are received by and available to the Administrative Agent to pay fully all Secured Obligations then due hereunder, any amounts
received on account of the Secured Obligations shall, subject to the provisions of Sections 2.14 and 2.15, be applied by the Administrative Agent in the following order: 

First, to payment of that portion of the Secured Obligations constituting fees, indemnities, expenses and other
amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

Second, to payment of that portion of the Secured Obligations constituting fees, indemnities and other amounts
(other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer arising under the Loan Documents and amounts
payable under Article III, ratably among them in proportion to the respective amounts described in this clause Second payable to them; 
 Third, to payment of that portion of the Secured Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Secured Obligations arising
under the Loan Documents, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them; 
 Fourth, to payment of that portion of the Secured Obligations constituting unpaid principal of the Loans, L/C Borrowings and Secured Obligations then due and owing under Secured Hedge Agreements
and Secured Cash Management Agreements, ratably among the Lenders, the L/C Issuer, the Hedge Banks and the Cash Management Banks in proportion to the respective amounts described in this clause Fourth held by them; 

Fifth, to the Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C
Obligations comprised of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections 2.03 and 2.14; and 

Last, the balance, if any, after all of the Secured Obligations have been indefeasibly paid in full, to the
Borrower or as otherwise required by Law. 

  
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 Subject to Sections 2.03(c) and 2.14, amounts used to Cash Collateralize the aggregate undrawn
amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn
or expired, such remaining amount shall be applied to the other Secured Obligations, if any, in the order set forth above. 
 Notwithstanding
the foregoing, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements shall be excluded from the application described above if the Administrative Agent has not received a Secured Party Designation Notice,
together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be. Each Cash Management Bank or Hedge Bank not a party to this Agreement that has given the
notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX for itself and its Affiliates as if a
“Lender” party hereto. 
 ARTICLE IX 
 ADMINISTRATIVE AGENT 
  

	9.01	Appointment and Authority. 

 (a) Appointment. Each of the Lenders and the L/C Issuer hereby irrevocably appoints, designates and authorizes Bank of America to act on its behalf as the Administrative Agent hereunder and under
the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are
reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and neither the Borrower nor any other Loan Party shall have rights as a third party beneficiary of
any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or
other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.

 (b) Collateral Agent. The Administrative Agent shall also act as the “collateral agent” under
the Loan Documents, and each of the Lenders (including in its capacities as a potential Hedge Bank and a potential Cash Management Bank) and the L/C Issuer hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of
such Lender and the L/C Issuer for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Secured Obligations, together with such powers and discretion as are reasonably
incidental thereto. In this connection, the Administrative Agent, as “collateral agent” and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.05 for purposes of holding
or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all
provisions of this Article IX and Article XI (including Section 11.04(c), as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full
herein with respect thereto. 

  
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	9.02	Rights as a Lender. 

The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other
Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving
as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in
any kind of banking, trust, financial, advisory, underwriting or other business with any Loan Party or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor
to the Lenders or to provide notice to or consent of the Lenders with respect thereto. 
  

	9.03	Exculpatory Provisions. 

 The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature.
Without limiting the generality of the foregoing, the Administrative Agent and its Related Parties: 
 (a) shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 
 (b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that
the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the
Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable Law, including for the
avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and

 (c) shall not, except as expressly set forth herein and in the other Loan Documents, have any duty or
responsibility to disclose, and shall not be liable for the failure to disclose, any information relating to any Loan Party or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its
Affiliates in any capacity. 
 Neither the Administrative Agent nor any of its Related Parties shall be liable for any action
taken or not taken by the Administrative Agent under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby or thereby (i) with the consent or at the request of the Required Lenders (or such
other number or percentage of the Lenders as shall be necessary), or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 11.01 and 8.02) or (ii) in the
absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. Any such action taken or failure to act pursuant to the foregoing shall be binding on all Lenders. The
Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given in writing to the Administrative Agent by the Borrower, a Lender or the L/C Issuer. 

  
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 Neither the Administrative Agent nor any of its Related Parties have any duty or obligation
to any Lender or participant or any other Person to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate,
report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported
to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly
required to be delivered to the Administrative Agent. 
  

	9.04	Reliance by Administrative Agent. 

 The Administrative Agent shall be entitled to rely upon, and shall be fully protected in relying and shall not incur any liability for relying upon, any notice, request, certificate, communication,
consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the
proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall be fully protected in relying and shall not incur any liability for
relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C
Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of
such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Loan Parties), independent accountants and other experts selected by it, and shall not be liable for any action
taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. For purposes of determining compliance with the conditions specified in Section 4.01, each Lender that has signed this Agreement shall be
deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have
received notice from such Lender prior to the proposed Closing Date specifying its objections. 
  

	9.05	Delegation of Duties. 

 The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the
Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to
any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the Aggregate Commitments as well as activities as Administrative
Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non appealable judgment that the Administrative Agent
acted with gross negligence or willful misconduct in the selection of such sub-agents. 

  
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	9.06	Resignation of Administrative Agent. 

 (a) Notice. The Administrative Agent may at any time resign as Administrative Agent upon thirty (30) days notice to the Lenders, the L/C Issuer and the Borrower. Upon receipt of any such
notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United
States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment prior to the effective date of the resignation of the Administrative Agent gives (the “Resignation Effective
Date”), then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that if the
Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective. 

(b) Effect of Resignation or Removal. With effect from the Resignation Effective Date (i) the retiring
Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer
under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (ii) except for any indemnity payments or other amounts
then owed to the retiring Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such
time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all
of the rights, powers, privileges and duties of the retiring Administrative Agent (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other amounts owed to the retiring Administrative Agent as of
the Resignation Effective Date), and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section).
The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation
hereunder and under the other Loan Documents, the provisions of this Article and Section 11.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect
of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. 
 (c) L/C Issuer and Swingline Lender. Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer and Swingline Lender. If
Bank of America resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all
L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c). If Bank of America resigns as Swingline Lender, it
shall retain all the rights of the Swingline Lender provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or
fund risk 

  
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participations in outstanding Swingline Loans pursuant to Section 2.04(c). Upon the appointment by the Borrower of a successor L/C Issuer or Swingline Lender hereunder (which
successor shall in all cases be a Lender other than a Defaulting Lender), (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swingline Lender, as applicable,
(ii) the retiring L/C Issuer and Swingline Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (iii) the successor L/C Issuer shall issue letters of credit in
substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit.

  

	9.07	Non-Reliance on Administrative Agent and Other Lenders. 

 Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents
and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent or
any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any
other Loan Document or any related agreement or any document furnished hereunder or thereunder. 
  

	9.08	No Other Duties, Etc. 

 Anything herein to the contrary notwithstanding, none of the titles listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan
Documents, except in its capacity, as applicable, as the Administrative Agent, the Arranger, a Lender or the L/C Issuer hereunder. 
  

	9.09	Administrative Agent May File Proofs of Claim; Credit Bidding. 

 In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any
Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention
in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole amount of the principal and
interest owing and unpaid in respect of the Loans, L/C Obligations and all other Secured Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C
Issuer and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and counsel and all other amounts
due the Lenders, the L/C Issuer and the Administrative Agent under Sections 2.03(h) and (i), 2.09, 2.10(b) and 11.04) allowed in such judicial proceeding; and 

(b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the
same; 

  
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and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make
such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for the reasonable
compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09, 2.10(b) and 11.04. 

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of
any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Secured Obligations or the rights of any Lender or the L/C Issuer to authorize the Administrative Agent to vote in respect of the claim of
any Lender or the L/C Issuer or in any such proceeding. 
 The Loan Parties and the Secured Parties hereby irrevocably authorize
the Administrative Agent, based upon the instruction of the Required Lenders, to (a) credit bid and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral at any sale
thereof conducted under the provisions of the Bankruptcy Code, including under Section 363 of the Bankruptcy Code or any similar Laws in any other jurisdictions to which a Loan Party is subject, or (b) credit bid and in such manner
purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral at any other sale or foreclosure conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial
action or otherwise) in accordance with applicable Law. In connection with any such credit bid and purchase, the Secured Obligations owed to the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Secured
Obligations with respect to contingent or unliquidated claims being estimated for such purpose if the fixing or liquidation thereof would not unduly delay the ability of the Administrative Agent to credit bid and purchase at such sale or other
disposition of the Collateral and, if such claims cannot be estimated without unduly delaying the ability of the Administrative Agent to credit bid, then such claims shall be disregarded, not credit bid, and not entitled to any interest in the asset
or assets purchased by means of such credit bid) and the Secured Parties whose Secured Obligations are credit bid shall be entitled to receive interests (ratably based upon the proportion of their Secured Obligations credit bid in relation to the
aggregate amount of Secured Obligations so credit bid) in the asset or assets so purchased (or in the Equity Interests of the acquisition vehicle or vehicles that are used to consummate such purchase). Except as provided above and otherwise
expressly provided for herein or in the other Collateral Documents, the Administrative Agent will not execute and deliver a release of any Lien on any Collateral. Upon request by the Administrative Agent or the Borrower at any time, the Secured
Parties will confirm in writing the Administrative Agent’s authority to release any such Liens on particular types or items of Collateral pursuant to this Section 9.09. 

 

	9.10	Collateral and Guaranty Matters. 

 Each of the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its
discretion, 
 (a) to release any Lien on any property granted to or held by the Administrative Agent under any
Loan Document (i) upon the Facility Termination Date, (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted hereunder or under any other
Loan Document, or (iii) if approved, authorized or ratified in writing by the Required Lenders in accordance with Section 11.01; 

  
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 (b) to subordinate any Lien on any property granted to or held by the
Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 7.01(i); and 
 (c) to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted under the Loan Documents. 

Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s
authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this Section 9.10. In each case as specified in this
Section 9.10, the Administrative Agent will, at the Borrower’s expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral
from the assignment and security interest granted under the Collateral Documents or to subordinate its interest in such item, or to release such Guarantor from its obligations under the Guaranty, in each case in accordance with the terms of the Loan
Documents and this Section 9.10. 
 The Administrative Agent shall not be responsible for or have a duty to
ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, or any certificate prepared by any
Loan Party in connection therewith, nor shall the Administrative Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral. 

 

	9.11	Secured Cash Management Agreements and Secured Hedge Agreements. 

 No Cash Management Bank or Hedge Bank that obtains the benefit of the provisions of Section 8.03, the Guaranty or any Collateral by virtue of the provisions hereof or any Collateral Document
shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) (or to notice
of or to consent to any amendment, waiver or modification of the provisions hereof or of the Guaranty or any Collateral Document) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents.
Notwithstanding any other provision of this Article IX to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other reasonably satisfactory arrangements have been made with respect to, Secured
Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements except to the extent expressly provided herein and unless the Administrative Agent has received a Secured Party Designation Notice of such Secured Obligations,
together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be. The Administrative Agent shall not be required to verify the payment of, or that other
reasonably satisfactory arrangements have been made with respect to, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements in the case of a Facility Termination Date. 

  
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 ARTICLE X 
 CONTINUING GUARANTY 
  

	10.01	Guaranty. 

 Each
Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon
acceleration, demand or otherwise, and at all times thereafter, of any and all of the Secured Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, of the Borrower to the Secured Parties,
arising hereunder or under any other Loan Document, any Secured Cash Management Agreement or any Secured Hedge Agreement (including all renewals, extensions, amendments, refinancings and other modifications thereof and all costs, attorneys’
fees and expenses incurred by the Secured Parties in connection with the collection or enforcement thereof). Notwithstanding the foregoing, the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate
amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the United States Bankruptcy Code or any comparable provisions of any applicable state law. The Administrative
Agent’s books and records showing the amount of the Secured Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the
Secured Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or by the existence, validity,
enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them,
under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing. 
  

	10.02	Rights of Lenders. 

Each Guarantor consents and agrees that the Secured Parties may, at any time and from time to time, without notice or demand, and without
affecting the enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Secured Obligations or any part thereof; (b) take,
hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Guaranty or any Secured Obligations; (c) apply such security and direct the order or manner of sale thereof as the
Administrative Agent, the L/C Issuer and the Lenders in their sole discretion may determine; and (d) release or substitute one or more of any endorsers or other guarantors of any of the Secured Obligations. Without limiting the generality of
the foregoing, each Guarantor consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of such Guarantor under this Guaranty or which, but for this provision, might operate as a discharge of
such Guarantor. 
  

	10.03	Certain Waivers. 

Each Guarantor waives (a) any defense arising by reason of any disability or other defense of the Borrower or any other guarantor, or
the cessation from any cause whatsoever (including any act or omission of any Secured Party) of the liability of the Borrower; (b) any defense based on any claim that such Guarantor’s obligations exceed or are more burdensome than those of
the Borrower; (c) the benefit of any statute of limitations affecting any Guarantor’s liability hereunder; (d) any right to proceed against the Borrower, proceed against or exhaust any security for the Secured Obligations, or pursue
any other 

  
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remedy in the power of any Secured Party whatsoever; (e) any benefit of and any right to participate in any security now or hereafter held by any Secured Party; and (f) to the fullest
extent permitted by law, any and all other defenses or benefits that may be derived from or afforded by applicable Law limiting the liability of or exonerating guarantors or sureties, in each case, other than the defense of payment or performance.
Each Guarantor expressly waives all setoffs and counterclaims and all presentments, demands for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands of
any kind or nature whatsoever with respect to the Secured Obligations, and all notices of acceptance of this Guaranty or of the existence, creation or incurrence of new or additional Secured Obligations. 

 

	10.04	Obligations Independent. 

 The obligations of each Guarantor hereunder are those of primary obligor, and not merely as surety, and are independent of the Secured Obligations and the obligations of any other guarantor, and a
separate action may be brought against each Guarantor to enforce this Guaranty whether or not the Borrower or any other person or entity is joined as a party. 
  

	10.05	Subrogation. 

 No
Guarantor shall exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Secured Obligations and any amounts payable under this Guaranty
have been indefeasibly paid and performed in full and the Commitments and the Aggregate Commitments are terminated. If any amounts are paid to a Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the
benefit of the Secured Parties and shall forthwith be paid to the Secured Parties to reduce the amount of the Secured Obligations, whether matured or unmatured. 
  

	10.06	Termination; Reinstatement. 

 This Guaranty is a continuing and irrevocable guaranty of all Secured Obligations now or hereafter existing and shall remain in full force and effect until the Facility Termination Date. Notwithstanding
the foregoing, this Guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of the Borrower or a Guarantor is made, or any of the Secured Parties exercises its right of setoff, in respect of
the Secured Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by any of
the Secured Parties in their discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such setoff had not occurred
and whether or not the Secured Parties are in possession of or have released this Guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of each Guarantor under this paragraph shall survive the
occurrence of the Facility Termination Date and the termination of this Guaranty. 
  

	10.07	Stay of Acceleration. 

 If acceleration of the time for payment of any of the Secured Obligations is stayed, in connection with any case commenced by or against a Guarantor or the Borrower under any Debtor Relief Laws, or
otherwise, all such amounts shall nonetheless be payable by each Guarantor, jointly and severally, immediately upon demand by the Secured Parties. 

  
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	10.08	Condition of Borrower. 

 Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrower and any other guarantor such information concerning the financial
condition, business and operations of the Borrower and any such other guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to disclose to it
any information relating to the business, operations or financial condition of the Borrower or any other guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to the
failure to provide the same). 
  

	10.09	Appointment of Borrower. 

 Each of the Guarantors hereby appoints the Borrower to act as its agent for all purposes of this Agreement and the other Loan Documents and agrees that (a) the Borrower may execute such documents on
behalf of such Guarantor as the Borrower deems appropriate in its sole discretion and each Guarantor shall be obligated by all of the terms of any such document executed on its behalf, (b) any notice or communication delivered by the
Administrative Agent or the Lender to the Borrower shall be deemed delivered to each Guarantor and (c) the Administrative Agent or the Lenders may accept, and be permitted to rely on, any document, instrument or agreement executed by the
Borrower on behalf of each Guarantor. 
  

	10.10	Right of Contribution. 

 The Guarantors agree among themselves that, in connection with payments made hereunder, each Guarantor shall have contribution rights against the other Guarantors as permitted under applicable Law.

 ARTICLE XI 
 MISCELLANEOUS 
  

	11.01	Amendments, Etc. 

No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Borrower or
any other Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrower or the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and each such waiver or consent
shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 

(a) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to
Section 8.02) without the written consent of such Lender (it being understood and agreed that a waiver of any condition precedent in Section 4.02 or of any Default or a mandatory reduction in Commitments is not considered an
extension or increase in Commitments of any Lender); 
 (b) postpone any date fixed by this Agreement or any
other Loan Document for any payment (excluding mandatory prepayments) of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under such other Loan Document without the written consent of each Lender entitled
to such payment; 

  
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 (c) reduce the principal of, or the rate of interest specified herein on,
any Loan or L/C Borrowing, or (subject to clause (iv) of the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent of each Lender
entitled to such amount; provided, however, that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest or
Letter of Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to
reduce any fee payable hereunder; 
 (d) change Section 8.03 in a manner that would alter the pro
rata sharing of payments required thereby without the written consent of each Lender; 
 (e) change any provision
of this Section 11.01 or the definition of “Required Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or
thereunder or make any determination or grant any consent hereunder, without the written consent of each Lender; 

(f) release all or substantially all of the Collateral in any transaction or series of related transactions, without the
written consent of each Lender; or 
 (g) release all or substantially all of the value of the Guaranty, without
the written consent of each Lender, except to the extent the release of any Subsidiary from the Guaranty is permitted pursuant to Section 9.10 (in which case such release may be made by the Administrative Agent acting alone). 

and provided, further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to
the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing
and signed by the Swingline Lender in addition to the Lenders required above, affect the rights or duties of the Swingline Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the
Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; and (iv) the Fee Letter may be amended, or rights or privileges thereunder
waived, in a writing executed only by the parties thereto. Notwithstanding anything to the contrary herein, (A) no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment,
waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders, except that (1) the Commitment of any Defaulting Lender
may not be increased or extended without the consent of such Lender and (2) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender disproportionately
adversely relative to other affected Lenders shall require the consent of such Defaulting Lender; (B) each Lender is entitled to vote as such Lender sees fit on any bankruptcy reorganization plan that affects the Loans, and each Lender
acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code of the United States supersedes the unanimous consent provisions set forth herein and (C) the Required Lenders shall determine whether or not to allow a Loan Party
to use cash collateral in the context of a bankruptcy or insolvency proceeding and such determination shall be binding on all of the Lenders. 

  
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 Notwithstanding anything to the contrary herein the Administrative Agent may, with the prior written consent
of the Borrower only, amend, modify or supplement this Agreement or any of the other Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency. 
 If any Lender does not consent to a proposed amendment, waiver, consent or release with respect to any Loan Document that requires the consent of each Lender and that has been approved by the Required
Lenders, the Borrower may replace such Non-Consenting Lender in accordance with Section 11.13; provided that such amendment, waiver, consent or release can be effected as a result of the assignment contemplated by such Section
(together with all other such assignments required by the Borrower to be made pursuant to this paragraph). 
  

	11.02	Notices; Effectiveness; Electronic Communications. 

 (a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in subsection (b) below), all notices
and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by fax transmission or other electronic mail transmission as follows, and
all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 
 (i) if to the Borrower or any other Loan Party, the Administrative Agent, the L/C Issuer or the Swingline Lender, to the address, facsimile number, electronic mail address or telephone number specified
for such Person on Schedule 1.01(a); and 
 (ii) if to any other Lender, to the address, facsimile
number, electronic mail address or telephone number specified in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the
delivery of notices that may contain material non-public information relating to the Borrower). 
 Notices and other communications sent by hand
or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by (fax transmission or other electronic mail transmission shall be deemed to have been
given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through
electronic communications to the extent provided in subsection (b) below shall be effective as provided in such subsection (b). 
 (b) Electronic Communications. Notices and other communications to the Lenders and the L/C Issuer hereunder may be delivered or furnished by electronic communication (including electronic mail
address and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to Article II if such Lender
or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent, the Swingline Lender, the L/C Issuer or the Borrower may
each, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or
communications. 

  
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 Unless the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an electronic mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return
electronic mail address or other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its electronic mail address as
described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii), if such
notice, email or other communication is not sent during the normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient.

 (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND,
EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender, the L/C Issuer or any other Person for
losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s, any Loan Party’s or the Administrative Agent’s transmission of Borrower Materials through the
Internet. 
 (d) Change of Address, Etc. Each of the Borrower, the Administrative Agent, the L/C Issuer
and the Swingline Lender may change its address, facsimile number or telephone number or electronic mail address for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address,
facsimile number or telephone number or electronic mail address for notices and other communications hereunder by notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swingline Lender. In addition, each Lender agrees to notify
the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail address to which notices and other communications
may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one (1) individual at or on behalf of such Public Lender to at all times have selected the “Private Side
Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United
States federal and state securities Laws, to make reference to Borrower Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect
to the Borrower or its securities for purposes of United States federal or state securities laws. 
 (e)
Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including telephonic or electronic Loan Notices, Letter of Credit
Applications and Swingline Loan Notices) purportedly given by or on behalf of any Loan Party even if (i) such notices were not made in a 

  
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manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from
any confirmation thereof. The Loan Parties shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on
each notice purportedly given by or on behalf of a Loan Party. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to
such recording. 
  

	11.03	No Waiver; Cumulative Remedies; Enforcement. 

 No failure by any Lender, the L/C Issuer or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan
Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under any other Loan Document preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 

Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies
hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the
Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its
own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer or the Swingline Lender from exercising the rights and remedies that
inure to its benefit (solely in its capacity as L/C Issuer or Swingline Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 11.08 (subject
to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and
provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative
Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.13, any Lender may, with the
consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. 
  

	11.04	Expenses; Indemnity; Damage Waiver. 

 (a) Costs and Expenses. The Loan Parties shall pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (limited in the case of
legal fees to the reasonable fees, charges and disbursements of (x) one primary counsel for the Administrative Agent and (y) up to one local counsel in each applicable local jurisdiction in which such local counsel is reasonably determined
to be necessary by the Administrative Agent), in connection with the syndication of the credit facility provided for herein, the preparation, due diligence, negotiation, execution, delivery and administration of this Agreement and the other Loan
Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), and with any other aspect of the Transaction and any similar transaction
and 

  
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any of the other transactions contemplated hereby, (ii) all reasonable and documented out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or
extension of any Letter of Credit or any demand for payment thereunder and (iii) all documented out-of-pocket expenses incurred by the Administrative Agent, any Lender or the L/C Issuer (including the fees, charges and disbursements of any
counsel for the Administrative Agent, any Lender or the L/C Issuer), in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or
(B) in connection with Loans made or Letters of Credit issued hereunder, including all such documented out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) Indemnification by the Loan Parties. The Loan Parties shall indemnify the Administrative Agent (and any
sub-agent thereof), the Arranger, each Lender and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and related expenses (including, without limitation, the reasonable and documented fees, disbursements and other charges of (x) one counsel for all Indemnitees, (y) if deemed necessary by the
Administrative Agent, one firm of local counsel in each appropriate jurisdiction for all Indemnitees and (z) in the case of an actual or perceived conflict of interest with respect to any Indemnitee, of another firm of counsel for such affected
Indemnitee) incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or any other Loan Party) arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any
other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions (including the Transaction)
contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents (including in respect of any matters addressed in
Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in
connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its
Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party or any of the Borrower’s or such Loan Party’s directors, shareholders or creditors, and regardless of whether any Indemnitee is
a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from (A) the gross negligence, bad faith or willful misconduct of such Indemnitee or Related Indemnitee or (B) a claim brought by the Borrower or any of its Affiliates against an Indemnitee for
breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document. Without limiting the provisions of Section 3.01(c), this Section 11.04(b) shall not apply with respect to Taxes other than
any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. 
 (c) Reimbursement by
Lenders. To the extent that the Loan Parties for any reason fail to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof),
the L/C Issuer, the Swingline Lender 

  
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or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the L/C Issuer, the Swingline Lender or such Related Party,
as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the Total Credit Exposure at such time) of such unpaid
amount (including any such unpaid amount in respect of a claim asserted by such Lender), such payment to be made severally among them based on such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed
expense or indemnity payment is sought), provided, further that, the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or
any such sub-agent), the L/C Issuer or the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), the L/C Issuer or the Swingline Lender in
connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.12(d). 

(d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable Law, no party hereto shall
assert, and each party hereby waives, and acknowledges that no other Person shall have, any claim against any other party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual
damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of
the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such
Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages
resulting from the gross negligence, bad faith or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court of competent jurisdiction. 

(e) Payments. All amounts due under this Section shall be payable not later than ten (10) Business Days after
demand therefor. 
 (f) Survival. The agreements in this Section and the indemnity provisions of
Section 11.02(e) shall survive the resignation of the Administrative Agent, the L/C Issuer and the Swingline Lender, the replacement of any Lender, the occurrence of the Facility Termination Date and the termination of this Agreement.

  

	11.05	Payments Set Aside. 

To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent, the L/C Issuer or any Lender, or the
Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or
otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred,
and (b) each Lender and the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so 

  
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recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from
time to time in effect. The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the occurrence of the Facility Termination Date and the termination of this Agreement. 

 

	11.06	Successors and Assigns. 

 (a) Successors and Assigns Generally. The provisions of this Agreement and the other Loan Documents shall be binding upon and inure to the benefit of the parties hereto and thereto and their
respective successors and assigns permitted hereby, except neither the Borrower nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and no
Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with
the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section (and any other attempted assignment or
transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby,
Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal or equitable
right, remedy or claim under or by reason of this Agreement. 
 (b) Assignments by Lenders. Any Lender may
at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Commitment(s) and the Loans (including for purposes of this
subsection (b), participations in L/C Obligations and in Swingline Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 
 (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or contemporaneous assignments to related Approved Funds
that equal at least the amount specified in subsection (b)(i)(B) of this Section in the aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B) in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment
(which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000, unless each of
the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld, conditioned or delayed). 

  
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 (ii) Proportionate Amounts. Each partial assignment shall be made as
an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement and the other Loan Documents with respect to the Loans and/or the Commitment assigned, except that this clause (ii)
shall not apply to the Swingline Lender’s rights and obligations in respect of Swingline Loans. 
 (iii)
Required Consents. No consent shall be required for any assignment except to the extent required by subsection (b)(i)(B) of this Section and, in addition: 

(A) the consent of the Borrower (such consent not to be unreasonably withheld, conditioned or delayed) shall be required
unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have
consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within ten (10) Business Days after having received notice thereof; 

(B) the consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed) shall
be required if such assignment is to a Person that is not a Lender, an Affiliate of a Lender or an Approved Fund with respect to a Lender; and 
 (C) the consent of the L/C Issuer and the Swingline Lender shall be required for any assignment. 
 (iv) Assignment and Assumption. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in
the amount of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to
the Administrative Agent an Administrative Questionnaire. 
 (v) No Assignment to Certain Persons. No such
assignment shall be made (A) to the Borrower or any of the Borrower’s Affiliates or Subsidiaries, (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of
the foregoing Persons described in this clause (B), or (C) to a natural Person. 
 (vi) Certain
Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the
parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or
subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which
the applicable assignee and assignor hereby irrevocably consent), to (A) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the L/C Issuer or any Lender hereunder (and interest
accrued thereon) and 

  
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(B) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit and Swingline Loans in accordance with its Applicable Percentage.
Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of
such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 
 Subject to
acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this
Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such
Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be
a party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05 and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment); provided,
that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting
Lender. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be
treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section. 

(c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency
being solely for tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it (or the equivalent thereof in electronic form) and a register for the recordation of the names and
addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the
Register shall be conclusive, absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower or the
Administrative Agent, sell participations to any Person (other than a natural Person, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such
Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swingline Loans) owing to it); provided that
(i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the
Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be
responsible for the indemnity under Section 11.04(c) without regard to the existence of any participations. 

  
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 Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender
will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 11.01 that affects such Participant. The Borrower agrees that each Participant shall be
entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section (it being understood that the
documentation required under Section 3.01(e) shall be delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of
this Section; provided that such Participant (A) agrees to be subject to the provisions of Sections 3.06 and 11.13 as if it were an assignee under paragraph (b) of this Section and (B) shall not be entitled
to receive any greater payment under Sections 3.01 or 3.04, with respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive, except to the extent such
entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use
reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 3.06 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 11.08 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.13 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as
an agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents
(the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a
Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit
or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name
is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent)
shall have no responsibility for maintaining a Participant Register. 
 (e) Certain Pledges. Any Lender
may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note or Notes, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations
to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(f) Resignation as L/C Issuer or Swingline Lender after Assignment. Notwithstanding anything to the contrary
contained herein, if at any time Bank of America assigns all of its Commitment and Revolving Loans pursuant to subsection (b) above, Bank of America may, (i) upon thirty (30) days’ notice to the Borrower and the Lenders,
resign as L/C Issuer and/or (ii) upon thirty (30) days’ notice to the Borrower, resign as Swingline Lender. In the event of any such resignation as L/C Issuer or Swingline Lender, the Borrower shall be entitled to appoint from among
the Lenders a successor L/C Issuer or Swingline Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer or Swingline Lender, as
the case may be. 

  
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If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the
effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to
Section 2.03(c)). If Bank of America resigns as Swingline Lender, it shall retain all the rights of the Swingline Lender provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such
resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swingline Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or Swingline
Lender, (A) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swingline Lender, as the case may be, and (B) the successor L/C Issuer shall issue letters of
credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements reasonably satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such
Letters of Credit. 
  

	11.07	Treatment of Certain Information; Confidentiality. 

 (a) Treatment of Certain Information. Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (i) to its Affiliates and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such
Information confidential), (ii) to the extent required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association
of Insurance Commissioners), (iii) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process, (iv) to any other party hereto, (v) in connection with the exercise of any remedies hereunder or
under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (vi) subject to an agreement containing provisions substantially the same as
those of this Section, to (A) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under this Agreement or any Eligible Assignee invited to be a Lender pursuant to
Section 2.16(c) or (B) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to the Borrower and its obligations, this Agreement or
payments hereunder, (vii) on a confidential basis to (A) any rating agency in connection with rating the Borrower or its Subsidiaries or the credit facility provided hereunder or (B) the CUSIP Service Bureau or any similar agency in
connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facility provided hereunder, (viii) with the consent of the Borrower or to the extent such Information (1) becomes publicly
available other than as a result of a breach of this Section or (2) becomes available to the Administrative Agent, any Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the
Borrower. For purposes of this Section, “Information” means all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such
information that is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary, provided that, in the case of information received from the Borrower or
any Subsidiary after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied

  
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with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential
information. 
 (b) Non-Public Information. Each of the Administrative Agent, the Lenders and the L/C
Issuer acknowledges that (i) the Information may include material non-public information concerning a Loan Party or a Subsidiary, as the case may be, (ii) it has developed compliance procedures regarding the use of material non-public
information and (iii) it will handle such material non-public information in accordance with applicable Law, including United States federal and state securities Laws. 

(c) Press Releases. The Loan Parties and their Affiliates agree that they will not in the future issue any press
releases or other public disclosure using the name of the Administrative Agent or any Lender or their respective Affiliates or referring to this Agreement or any of the Loan Documents without the prior written consent of the Administrative Agent,
unless (and only to the extent that) the Loan Parties or such Affiliate is required to do so under law and then, in any event the Loan Parties or such Affiliate will consult with such Person before issuing such press release or other public
disclosure. 
 (d) Customary Advertising Material. The Loan Parties consent to the publication by the
Administrative Agent or any Lender of customary advertising material relating to the transactions contemplated hereby using the name, product photographs, logo or trademark of the Loan Parties. 

 

	11.08	Right of Setoff. 

If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their respective Affiliates is
hereby authorized at any time and from time to time, to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held
(other than any payroll account so long as such payroll account is a zero balance account and withholding tax and other fiduciary accounts) and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such
Affiliate to or for the credit or the account of the Borrower or any other Loan Party against any and all of the obligations of the Borrower or such Loan Party now or hereafter existing under this Agreement or any other Loan Document to such Lender
or the L/C Issuer or their respective Affiliates, irrespective of whether or not such Lender, the L/C Issuer or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower or
such Loan Party may be contingent or unmatured, secured or unsecured, or are owed to a branch, office or Affiliate of such Lender or the L/C Issuer different from the branch, office or Affiliate holding such deposit or obligated on such
indebtedness; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (a) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with
the provisions of Section 2.15 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent, the L/C Issuer and the Lenders, and
(b) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Secured Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each
Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the
L/C Issuer agrees to notify the Borrower and the Administrative Agent 

  
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promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application. 

 

	11.09	Interest Rate Limitation. 

 Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest
permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if
it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by
applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in
equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 
  

	11.10	Counterparts; Integration; Effectiveness. 

 This Agreement and each of the other Loan Documents may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original. This Agreement,
the other Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative Agent or the L/C Issuer, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all
previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and
when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement or any other Loan
Document, or any certificate delivered thereunder, by fax transmission or other electronic mail transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement. Without
limiting the foregoing, to the extent a manually executed counterpart is not specifically required to be delivered under the terms of any Loan Document, upon the request of any party, such fax transmission or electronic mail transmission shall be
promptly followed by such manually executed counterpart. 
  

	11.11	Survival of Representations and Warranties. 

 All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution
and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and
notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall
remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 
  

	11.12	Severability. 

 If
any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be
affected or impaired thereby and (b) the parties shall endeavor 

  
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in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal,
invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section, if and
to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the L/C Issuer or the Swingline Lender, as
applicable, then such provisions shall be deemed to be in effect only to the extent not so limited. 
  

	11.13	Replacement of Lenders. 

 If the Borrower is entitled to replace a Lender pursuant to the provisions of Section 3.06, or if any Lender is a Defaulting Lender or a Non-Consenting Lender or if any other circumstance
exists hereunder that gives the Borrower the right to replace a Lender as a party hereto, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate,
without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 11.06) except as set forth below with respect to the consent of the applicable Lender, all of its interests, rights
(other than its existing rights to payments pursuant to Sections 3.01 and 3.04) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be
another Lender, if a Lender accepts such assignment), provided that: 
 (a) the Borrower shall have paid
to the Administrative Agent the assignment fee (if any) specified in Section 11.06(b); 
 (b) such
Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents
(including any amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 

(c) in the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments
required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; 
 (d) such assignment does not conflict with applicable Laws; and 

(e) in the case of an assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall
have consented to the applicable amendment, waiver or consent. 
 A Lender shall not be required to make any such assignment or
delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. If, as to any Lender, there are circumstances entitling the
Borrower to require an assignment, such assignment shall be automatically binding upon such Lender and shall not require any further consent or approval by such Lender. 

  
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	11.14	Governing Law; Jurisdiction; Etc. 

 (a) GOVERNING LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b) SUBMISSION TO JURISDICTION. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT
IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER, THE L/C ISSUER, OR ANY RELATED PARTY OF THE
FOREGOING IN ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS, IN ANY FORUM OTHER THAN THE COURTS 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, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY
BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION 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. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C
ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c) WAIVER OF VENUE. THE BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN
PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

 (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER
PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY 

  
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PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 
  

	11.15	Waiver of Jury Trial and Judicial Reference. 

 EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (a) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (b) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO
THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

Notwithstanding anything to the contrary contained in this Agreement, if any action or proceeding is filed in a court of the State
of California by or against any party hereto in connection with any of the transactions contemplated by this Agreement or any other Loan Document, (a) the court shall, and is hereby directed to, make a general reference pursuant to California
Code of Civil Procedure Section 638 to a referee (who shall be a single active or retired judge) to hear and determine all of the issues in such action or proceeding (whether of fact or of law) and to report a statement of decision,
provided that at the option of any party to such proceeding, any such issues pertaining to a “provisional remedy” as defined in California Code of Civil Procedure Section 1281.8 shall be heard and determined by the court, and
(b) without limiting the generality of Section 11.04, the Borrower shall be solely responsible to pay all fees and expenses of any referee appointed in such action or proceeding. 

 

	11.16	Subordination. 

Each Loan Party (a “Subordinating Loan Party”) hereby subordinates the payment of all obligations and indebtedness of any
other Loan Party owing to it, whether now existing or hereafter arising, including but not limited to any obligation of any such other Loan Party to the Subordinating Loan Party as subrogee of the Secured Parties or resulting from such Subordinating
Loan Party’s performance under this Guaranty, to the indefeasible payment in full in cash of all Obligations. If the Secured Parties so request, any such obligation or indebtedness of any such other Loan Party to the Subordinating Loan Party
shall be enforced and performance received by the Subordinating Loan Party as trustee for the Secured Parties and the proceeds thereof shall be paid over to the Secured Parties on account of the Secured Obligations, but without reducing or affecting
in any manner the liability of the Subordinating Loan Party under this Agreement. Without limitation of the foregoing, so long as no Default has occurred and is continuing, the Loan Parties may make and receive payments with respect to Intercompany
Debt; provided, that in the event that any Loan Party receives any payment of any Intercompany Debt at a time when such payment is prohibited by this Section, such payment shall be held by such Loan Party, in trust for the benefit of, and
shall be paid forthwith over and delivered, upon written request, to the Administrative Agent. 

  
 131

	11.17	No Advisory or Fiduciary Responsibility. 

 In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower and
each other Loan Party acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (a) (i) the arranging and other services regarding this Agreement provided by the Administrative Agent and any Affiliate thereof, the
Arranger and the Lenders are arm’s-length commercial transactions between the Borrower, each other Loan Party and their respective Affiliates, on the one hand, and the Administrative Agent and, as applicable, its Affiliates (including the
Arranger) and the Lenders and their Affiliates (collectively, solely for purposes of this Section, the “Lenders”), on the other hand, (ii) each of the Borrower and the other Loan Parties has consulted its own legal, accounting,
regulatory and tax advisors to the extent it has deemed appropriate, and (iii) the Borrower and each other Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby
and by the other Loan Documents; (b) (i) the Administrative Agent and its Affiliates (including the Arranger) and each Lender each is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant
parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary, for Borrower, any other Loan Party or any of their respective Affiliates, or any other Person and (ii) neither the Administrative Agent, any of its
Affiliates (including the Arranger) nor any Lender has any obligation to the Borrower, any other Loan Party or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth
herein and in the other Loan Documents; and (c) the Administrative Agent and its Affiliates (including the Arranger) and the Lenders may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower,
the other Loan Parties and their respective Affiliates, and neither the Administrative Agent, any of its Affiliates (including the Arranger) nor any Lender has any obligation to disclose any of such interests to the Borrower, any other Loan Party or
any of their respective Affiliates. To the fullest extent permitted by law, each of the Borrower and each other Loan Party hereby waives and releases any claims that it may have against the Administrative Agent, any of its Affiliates (including the
Arranger) or any Lender with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transactions contemplated hereby. 
  

	11.18	Electronic Execution of Assignments and Certain Other Documents. 

 The words “execute,” “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption or in any amendment or other modification hereof
(including waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in
electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable
Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

 

	11.19	USA PATRIOT Act Notice. 

 Each Lender that is subject to the USA PATRIOT Act and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower and the other Loan Parties that pursuant to the
requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of each Loan Party and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify each Loan Party in accordance with the USA PATRIOT Act. The Borrower and the Loan Parties agree to, 

  
 132

 
promptly following a request by the Administrative Agent or any Lender, provide all such other documentation and information that the Administrative Agent or such Lender requests in order to
comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.] 

  
 133

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

					
	BORROWER:	 	SPECTRUM PHARMACEUTICALS, INC.
			
		 	By:	 	 /s/ Rajesh C. Shrotriya, M.D.

		 	Name:	 	 Rajesh C. Shrotriya, M.D.

		 	Title:	 	 Chief Executive Officer and President

 CREDIT AGREEMENT 
 Signature Page 

					
	GUARANTORS:	 	 SAPPHIRE ACQUISITION SUB, INC.

			
		 	By:	 	 /s/ Rajesh C. Shrotriya, M.D.

		 	Name:	 	 Rajesh C. Shrotriya, M.D.

		 	Title:	 	 Chief Executive Officer and President

		
		 	RIT ONCOLOGY, LLC
			
		 	By:	 	 /s/ Rajesh C. Shrotriya, M.D.

		 	Name:	 	 Rajesh C. Shrotriya, M.D.

		 	Title:	 	 Manager

		
		 	 SPECTRUM PHARMACEUTICALS
 INTERNATIONAL HOLDINGS, LLC

			
		 	By:	 	 /s/ Rajesh C. Shrotriya, M.D.

		 	Name:	 	 Rajesh C. Shrotriya, M.D.

		 	Title:	 	 Manager

 CREDIT AGREEMENT 
 Signature Page 

 
			
	 BANK OF AMERICA, N.A.,
 as Administrative Agent

		
	By:	 	 /s/ Denise Jones

	Name:	 	 Denise Jones

	Title:	 	 Assistant Vice President

 CREDIT AGREEMENT 
 Signature Page 

 
			
	 BANK OF AMERICA, N.A.,
 as a Lender, L/C Issuer and Swingline Lender

		
	By:	 	 /s/ John C. Plecque

	Name:	 	 John C. Plecque

	Title:	 	 Senior Vice President

 CREDIT AGREEMENT 
 Signature Page 

 
			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	 /s/ Dennis Kim

	Name:	 	 Dennis Kim

	Title:	 	 Vice President

 CREDIT AGREEMENT 
 Signature PageCREDIT AGREEMENT

 Exhibit 10.1 
 Execution Copy 
  

 
  

CREDIT AGREEMENT 
 DATED AS OF 

SEPTEMBER 7, 2012 
 AMONG 
 PMFG, INC. 

AND 
 PEERLESS MFG. CO., 
 EACH AS
BORROWER, 
 CITIBANK, N.A., 
 AS ADMINISTRATIVE AGENT, SWINGLINE LENDER 
 AND ISSUING BANK 

AND 
 THE LENDERS PARTY HERETO 
 CITIBANK, N.A., 
 AS 

SOLE LEAD ARRANGER, DOCUMENTATION AGENT,
SYNDICATION AGENT AND SOLE BOOKRUNNER 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 Article I
	 	 Definitions and Accounting Matters
	  	 	1	  
	 Section 1.01
	 	 Terms Defined Above
	  	 	1	  
	 Section 1.02
	 	 Certain Defined Terms
	  	 	1	  
	 Section 1.03
	 	 Types and Class of Loans and Borrowings
	  	 	37	  
	 Section 1.04
	 	 Terms Generally; Rules of Construction
	  	 	37	  
	 Section 1.05
	 	 Accounting Terms and Determinations; GAAP
	  	 	38	  
	 Section 1.06
	 	 Letters of Credit
	  	 	39	  
	 Section 1.07
	 	 Joint Preparation; Construction of Indemnities and Releases
	  	 	39	  
	 Section 1.08
	 	 Determination of Time
	  	 	39	  
	 Section 1.09
	 	 Change of Currency
	  	 	39	  
			
	 Article II
	 	 The Credits
	  	 	39	  
	 Section 2.01
	 	 Commitments
	  	 	39	  
	 Section 2.02
	 	 Loans, Borrowings and Advances
	  	 	40	  
	 Section 2.03
	 	 Requests for Borrowings
	  	 	41	  
	 Section 2.04
	 	 Swingline Loans
	  	 	43	  
	 Section 2.05
	 	 Interest Elections
	  	 	44	  
	 Section 2.06
	 	 Funding of Borrowings
	  	 	45	  
	 Section 2.07
	 	 Termination and Reduction of the Commitments
	  	 	46	  
	 Section 2.08
	 	 Increase in Commitments
	  	 	47	  
	 Section 2.09
	 	 Letters of Credit
	  	 	48	  
	 Section 2.10
	 	 Term B Loan and Advances
	  	 	56	  
	 Section 2.11
	 	 Collateral
	  	 	59	  
	 Section 2.12
	 	 Defaulting Lenders
	  	 	61	  
			
	 Article III
	 	 Payments of Principal and Interest; Prepayments; Fees
	  	 	64	  
	 Section 3.01
	 	 Repayment of Loans; Evidence of Debt
	  	 	64	  
	 Section 3.02
	 	 Interest
	  	 	66	  
	 Section 3.03
	 	 Alternate Rate of Interest
	  	 	67	  
	 Section 3.04
	 	 Prepayments
	  	 	67	  
	 Section 3.05
	 	 Fees
	  	 	69	  
			
	 Article IV
	 	 Payments; Pro Rata Treatment; Sharing of Payments
	  	 	71	  
	 Section 4.01
	 	 Payments Generally; Pro Rata Treatment; Sharing of Payments
	  	 	71	  
	 Section 4.02
	 	 Presumption of Payment by the Borrower
	  	 	72	  
	 Section 4.03
	 	 Certain Deductions by the Administrative Agent
	  	 	72	  
			
	 Article V
	 	 Increased Costs; Break Funding Payments; Taxes; Illegality
	  	 	73	  
	 Section 5.01
	 	 Increased Costs
	  	 	73	  
	 Section 5.02
	 	 Compensation for Losses; Break Funding Payments
	  	 	74	  
	 Section 5.03
	 	 Taxes
	  	 	74	  
	 Section 5.04
	 	 Mitigation Obligations; Replacement of Lenders
	  	 	78	  
	 Section 5.05
	 	 Illegality
	  	 	79	  
			
	 Article VI
	 	 Conditions Precedent
	  	 	79	  
	 Section 6.01
	 	 Effective Date
	  	 	79	  
	 Section 6.02
	 	 Conditions to Initial Loan Advance
	  	 	82	  
	 Section 6.03
	 	 Each Credit Event
	  	 	82	  
	 Section 6.04
	 	 Conditions to Advance
	  	 	83	  

  
 i 

							
			
	 Article VII
	 	 Representations and Warranties
	  	 	83	  
	 Section 7.01
	 	 Organization; Powers
	  	 	83	  
	 Section 7.02
	 	 Authority; Enforceability
	  	 	83	  
	 Section 7.03
	 	 Approvals; No Conflicts
	  	 	83	  
	 Section 7.04
	 	 Financial Condition; No Material Adverse Change
	  	 	84	  
	 Section 7.05
	 	 Litigation
	  	 	84	  
	 Section 7.06
	 	 Environmental Matters
	  	 	84	  
	 Section 7.07
	 	 Compliance with the Laws and Agreements; No Defaults
	  	 	84	  
	 Section 7.08
	 	 Investment Company Act
	  	 	85	  
	 Section 7.09
	 	 Taxes
	  	 	85	  
	 Section 7.10
	 	 ERISA
	  	 	85	  
	 Section 7.11
	 	 Disclosure
	  	 	85	  
	 Section 7.12
	 	 Insurance
	  	 	85	  
	 Section 7.13
	 	 Restriction on Liens
	  	 	85	  
	 Section 7.14
	 	 Subsidiaries
	  	 	86	  
	 Section 7.15
	 	 Ownership of Properties
	  	 	86	  
	 Section 7.16
	 	 Collateral Documents
	  	 	86	  
	 Section 7.17
	 	 Use of Loans and Letters of Credit
	  	 	86	  
	 Section 7.18
	 	 Solvency
	  	 	86	  
	 Section 7.19
	 	 Sanctioned Persons
	  	 	86	  
	 Section 7.20
	 	 Construction Representations
	  	 	87	  
			
	 Article VIII
	 	 Affirmative Covenants
	  	 	87	  
	 Section 8.01
	 	 Financial Statements; Other Information
	  	 	87	  
	 Section 8.02
	 	 Notices of Material Events
	  	 	90	  
	 Section 8.03
	 	 Existence; Conduct of Business
	  	 	90	  
	 Section 8.04
	 	 Payment of Obligations
	  	 	91	  
	 Section 8.05
	 	 Performance of Obligations under Loan Documents
	  	 	91	  
	 Section 8.06
	 	 Maintenance of Properties
	  	 	91	  
	 Section 8.07
	 	 Insurance
	  	 	91	  
	 Section 8.08
	 	 Books and Records; Inspection Rights; Field Audits
	  	 	91	  
	 Section 8.09
	 	 Compliance with Laws
	  	 	91	  
	 Section 8.10
	 	 ERISA Compliance
	  	 	91	  
	 Section 8.11
	 	 Swap Agreements
	  	 	92	  
	 Section 8.12
	 	 Administrative Agent as Principal Depository
	  	 	92	  
	 Section 8.13
	 	 Additional Collateral
	  	 	92	  
	 Section 8.14
	 	 Further Assurances
	  	 	93	  
	 Section 8.15
	 	 Construction Covenants
	  	 	94	  
	 Section 8.16
	 	 Ex-Im Credit Agreement
	  	 	94	  
			
	 Article IX
	 	 Negative Covenants
	  	 	94	  
	 Section 9.01
	 	 Financial Covenants
	  	 	94	  
	 Section 9.02
	 	 Indebtedness
	  	 	95	  
	 Section 9.03
	 	 Liens
	  	 	96	  
	 Section 9.04
	 	 Restricted Payments
	  	 	97	  
	 Section 9.05
	 	 Investments, Loans and Advances
	  	 	97	  
	 Section 9.06
	 	 Capital Expenditures
	  	 	99	  
	 Section 9.07
	 	 Change in Nature of Business or Organizational Structure
	  	 	99	  

  
 ii 

							
	 Section 9.08
	 	 Dispositions
	  	 	99	  
	 Section 9.09
	 	 Proceeds of Notes
	  	 	100	  
	 Section 9.10
	 	 Mergers, Etc
	  	 	100	  
	 Section 9.11
	 	 Environmental Matters
	  	 	101	  
	 Section 9.12
	 	 Transactions with Affiliates
	  	 	101	  
	 Section 9.13
	 	 Subsidiaries
	  	 	101	  
	 Section 9.14
	 	 Fiscal Year and Accounting Methods
	  	 	101	  
	 Section 9.15
	 	 Negative Pledge Agreements; Dividend Restrictions
	  	 	101	  
	 Section 9.16
	 	 Sale-Leaseback Transactions
	  	 	101	  
	 Section 9.17
	 	 Management Fees
	  	 	102	  
	 Section 9.18
	 	 Issuance of Equity
	  	 	102	  
	 Section 9.19
	 	 Construction Negative Covenants
	  	 	102	  
			
	 Article X
	 	 Events of Default; Remedies
	  	 	102	  
	 Section 10.01
	 	 Events of Default
	  	 	102	  
	 Section 10.02
	 	 Remedies
	  	 	104	  
			
	 Article XI
	 	 The Agents
	  	 	107	  
	 Section 11.01
	 	 Appointment; Powers
	  	 	107	  
	 Section 11.02
	 	 Rights as a Lender
	  	 	107	  
	 Section 11.03
	 	 Exculpatory Provisions
	  	 	107	  
	 Section 11.04
	 	 Reliance by Administrative Agent
	  	 	108	  
	 Section 11.05
	 	 Delegation of Duties
	  	 	109	  
	 Section 11.06
	 	 Resignation of Administrative Agent and/or Issuing Bank
	  	 	109	  
	 Section 11.07
	 	 Non-Reliance on Administrative Agent and Other Lenders
	  	 	110	  
	 Section 11.08
	 	 No Other Duties, etc
	  	 	110	  
	 Section 11.09
	 	 Administrative Agent May File Proofs of Claim
	  	 	111	  
	 Section 11.10
	 	 Collateral and Guaranty Matters
	  	 	111	  
	 Section 11.11
	 	 Secured Swap Agreements and Secured Treasury Management Agreements
	  	 	112	  
	 Section 11.12
	 	 Intercreditor Agreement
	  	 	112	  
	 Section 11.13
	 	 No Obligation by Administrative Agent or Lenders to Construct
	  	 	114	  
	 Section 11.14
	 	 Administrative Agent Approvals and Requirements
	  	 	114	  
			
	 Article XII
	 	 Miscellaneous
	  	 	115	  
	 Section 12.01
	 	 Notices
	  	 	115	  
	 Section 12.02
	 	 Waivers; Amendments
	  	 	118	  
	 Section 12.03
	 	 Expenses, Indemnity; Damage Waiver
	  	 	120	  
	 Section 12.04
	 	 Successors and Assigns
	  	 	123	  
	 Section 12.05
	 	 Survival; Revival; Reinstatement
	  	 	127	  
	 Section 12.06
	 	 Counterparts; Integration; Effectiveness; Electronic Signatures
	  	 	127	  
	 Section 12.07
	 	 Severability
	  	 	128	  
	 Section 12.08
	 	 Right of Setoff
	  	 	128	  
	 Section 12.09
	 	 Governing Law; Jurisdiction; Consent to Service of Process; Waiver of Jury Trial
	  	 	129	  
	 Section 12.10
	 	 Headings
	  	 	130	  
	 Section 12.11
	 	 Confidentiality
	  	 	130	  
	 Section 12.12
	 	 Interest Rate Limitation
	  	 	130	  
	 Section 12.13
	 	 EXCULPATION PROVISIONS
	  	 	131	  
	 Section 12.14
	 	 Collateral Matters; Swap Agreements; Treasury Management Agreements
	  	 	132	  
	 Section 12.15
	 	 No Third Party Beneficiaries
	  	 	132	  
	 Section 12.16
	 	 Time of the Essence
	  	 	132	  

  
 iii

							
	 Section 12.17
	 	 No Advisory or Fiduciary Responsibility
	  	 	132	  
	 Section 12.18
	 	 Joint and Several Obligations
	  	 	133	  
	 Section 12.19
	 	 USA Patriot Act Notice
	  	 	133	  
	 Section 12.20
	 	 ENTIRE AGREEMENT
	  	 	133	  
	 Section 12.21
	 	 Judgment Currency
	  	 	134	  
	 Section 12.22
	 	 Amendment and Restatment
	  	 	134	  

  
 iv 

 ANNEXES, EXHIBITS AND SCHEDULES 

 

			
	Annex I	 	 Commitments

	Annex II	 	 Term B Loans

		
	Exhibit A	 	 Form of Revolving Credit Note

	Exhibit B	 	 Form of Swingline Note

	Exhibit C	 	 Form of Term A Loan Note

	Exhibit D	 	 Form of Amended and Restated Term B Loan Note

	Exhibit E	 	 Form of Borrowing Request

	Exhibit F	 	 Form of Draw Request

	Exhibit G	 	 Form of Interest Election Request

	Exhibit H	 	 Form of Compliance Certificate

	Exhibit I	 	 Form of Borrowing Base Certificate

	Exhibit J-1	 	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit J-2	 	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit J-3	 	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit J-4	 	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit K	 	 Form of Assignment and Assumption

	Exhibit L	 	 Form of Lien Waiver and Release

	Exhibit M	 	 Form of Affidavit of Completion

	Exhibit N	 	 Form of Certificate of Substantial Completion

	Exhibit O	 	 Budget

  

			
	Schedule 7.05	 	 Litigation

	Schedule 7.06	 	 Environmental

	Schedule 7.14	 	 Subsidiaries

	Schedule 9.02	 	 Existing Indebtedness

	Schedule 9.03	 	 Existing Liens

	Schedule 9.05	 	 Existing Investments

  
 v 

 THIS CREDIT AGREEMENT dated as of September 7, 2012 is among PMFG, INC., a corporation
duly formed and existing under the laws of the State of Delaware (“PMFG”), and PEERLESS MFG. CO., a corporation duly formed and existing under the laws of the State of Texas (“Peerless”, and PMFG
and Peerless, individually and collectively shall be referred to herein as, the “Borrower”); each of the Lenders from time to time party hereto; and CITIBANK, N.A., a national banking association (in its individual capacity,
“Citibank”), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”). 

R E C I T A L S 
 A. The Borrower has requested that the Lenders provide certain loans to and extensions of credit on behalf of the Borrower. 
 B. The Lenders have agreed to make such loans and extensions of credit subject to the terms and conditions of this Agreement. 
 C. In consideration of the mutual covenants and agreements herein contained and of the loans, extensions of credit and commitments hereinafter referred to, the parties hereto agree as follows: 

ARTICLE I 

Definitions and Accounting Matters 
 Section 1.01 Terms Defined Above. As used in this Agreement, each term defined above has the meaning indicated above. 
 Section 1.02 Certain Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 
 “ABR” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference
to the Alternate Base Rate. 
 “Account” has the meaning set forth in the UCC. 

“Account Debtor” means each Person obligated in any way on or in connection with an Account, Chattel Paper or
General Intangible (including a payment intangible). 
 “Acquisition” means the acquisition by the
Borrower or any other Loan Party of (a) all of the Equity Interests of any other Person, (b) all or substantially all of the assets of any other Person or (c) assets constituting one or more divisions, lines of business or business
units of any other Person. 
 “Act” has the meaning set forth in Section 12.19. 

“Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate
per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied from time to time by the Administrative Agent. 

“Advance” means a disbursement by the Administrative Agent of any Term B Loan proceeds or any funds from the
Borrower’s Deposit in accordance with the provisions of this Agreement. 

  
 CREDIT AGREEMENT
– Page 1 

 “Advance Account” means an account established by the Borrower with
the Administrative Agent into which all Advances being made to the Borrower will be deposited as provided in Section 2.03(b). 
 “Affected Loans” has the meaning assigned such term in Section 5.05. 
 “Affidavit of Completion” has the meaning assigned such term in Section D(f) of Annex II, in the form attached hereto as Exhibit M. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or
more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent
Parties” has the meaning set forth in Section 12.01(c)(iii). 
 “Agents” means,
collectively, the Administrative Agent and other agents subsequently named; and “Agent” shall mean either the Administrative Agent or such other agent, as the context requires. 

“Agreement” means this Credit Agreement, as the same may from time to time be amended, modified, supplemented or
restated. 
 “Allocations” means the line items set forth in the Budget for which Advances of
Term B Loan proceeds will be made. 
 “Amended and Restated Term B Loan Note” means a promissory
note substantially in the form of Exhibit D. 
 “Alternate Base Rate” means,
for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus  1/2 of 1%, and (c) the Adjusted LIBO Rate (based on an Interest Period of thirty (30) days) in effect on such day plus 2%. Any change in the Alternate Base Rate due to a change in the Prime Rate or
the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate or the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

“Alternative Currency Equivalent” means, at any time, with respect to any amount denominated in Dollars, the
equivalent amount thereof in the applicable Approved Currency (other than Dollars) as determined by the Administrative Agent or the Issuing Bank, as the case may be, at such time on the basis of the Spot Rate on any date of determination for the
purchase of such Approved Currency (other than Dollars) with Dollars. 
 “Applicable Margin” means, for
any day, with respect to any ABR Loan or Eurodollar Loan, the applicable rate per annum set forth below under the caption “ABR Spread” or “Eurodollar Spread,” respectively, based upon the Consolidated Funded Debt to EBITDA Ratio
as of the most recent determination date; provided that from the Effective Date until the delivery of the Borrower’s consolidated financial statements for the fiscal quarter ending on or nearest to December 31, 2012, the
“Applicable Margin” shall be the applicable rate per annum set forth below in Level III: 
  

															
	 Level
	  	 Consolidated Funded

Debt to EBITDA Ratio
	  	ABR
Spread	 	 	Eurodollar
Spread	 	 	Unused Fee
Rate	 
	 I
	  	Greater than 4.00:1.00	  	 	0.75	% 	 	 	2.75	% 	 	 	0.50	% 
	 II
	  	Greater than 3.50:1.00 but less than or equal to 4.00:1.00	  	 	0.50	% 	 	 	2.50	% 	 	 	0.50	% 
	 III
	  	Greater than or equal to 3.00:1.00 but less than or equal to 3.50:1.00	  	 	0.25	% 	 	 	2.25	% 	 	 	0.25	% 
	 IV
	  	Less than 3.00:1.00	  	 	0.00	% 	 	 	2.00	% 	 	 	0.25	% 

  
 CREDIT AGREEMENT
– Page 2 

 For purposes of the foregoing, (i) the Consolidated Funded Debt to EBITDA Ratio shall be determined as
of the end of each fiscal quarter of the Borrower based upon the Borrower’s consolidated financial statements delivered pursuant to Section 8.01(a) or (b) (and the related Compliance Certificate delivered pursuant to
Section 8.01(c)), and (ii) each change in the Applicable Margin resulting from a change in the Consolidated Funded Debt to EBITDA Ratio shall be effective during the period commencing on and including the date three
(3) Business Days after delivery to the Administrative Agent of such consolidated financial statements and Compliance Certificate indicating such change and ending on the date immediately preceding the effective date of the next such change;
provided that the Consolidated Funded Debt to EBITDA Ratio shall be deemed to be in Level I (A) at any time that an Event of Default shall have occurred and be continuing or (B) if the Borrower fails to deliver the consolidated
financial statements (and related Compliance Certificate) required to be delivered by it pursuant to Section 8.01(a), (b) and/or (c), during the period from the expiration of the time for delivery thereof specified in
such sections until such financial statements and Compliance Certificate are delivered. 
 In the event that the Administrative
Agent and the Borrower determine that any financial statements previously delivered were incorrect or inaccurate (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if
corrected, would have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin actually applied for such Applicable Period, then (i) the Borrower shall as
soon as practicable deliver to the Administrative Agent the corrected financial statements for such Applicable Period, (ii) the Applicable Margin shall be determined as if the applicable level for such higher Applicable Margin were applicable
for such Applicable Period, and (iii) the Borrower shall within three (3) Business Days of demand thereof by the Administrative Agent pay to the Administrative Agent the accrued additional amount owing as a result of such increased
Applicable Margin for such Applicable Period, which payment shall be promptly applied by the Administrative Agent in accordance with this Agreement. This paragraph shall not limit the rights of the Administrative Agent and Lenders with respect to
Section 3.02(c) and Article X. The Borrower’s obligations under this paragraph shall survive the termination of the Commitments and the repayment in cash in full of all other Obligations hereunder for the limited period
ending on the date that is two (2) months following the date upon which the Borrower’s annual audited financial statements, which include the period during which such termination and repayment occurred, become publicly available.

 “Applicable Percentage” means (a) with respect to any Revolving Credit Lender for purposes of
Section 2.04 or Section 2.09 or in respect of any indemnity claim under Section 12.03(b) arising out of an action or omission of the Swingline Lender or the Issuing Bank under this Agreement, the percentage of the
total Revolving Credit Commitments represented by such Revolving Credit Lender’s Revolving Credit Commitment, and (b) with respect to any Lender in respect of (i) any indemnity claim under Section 12.03(b) arising out of
an action or omission of the Administrative Agent under this Agreement or (ii) any participation in a Protective Advance under Section 2.10(g), the percentage of the total Commitments or Loans of all Classes hereunder represented by
the aggregate amount of such Lender’s Commitments or Loans of all Classes hereunder. With respect to the Revolving Credit Lenders, if the Revolving Credit Commitments have terminated or expired, the Applicable Percentages shall be determined on
the basis of the percentage of the total Revolving Credit Exposures represented by such Revolving Credit Lender’s Revolving Credit Exposure. 

  
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 “Applicable Period” has the meaning assigned to such term in the
definition of “Applicable Margin”. 
 “Approved Currency” means Dollars,
Canadian Dollars, Sterling and Euros. 
 “Approved Fund” means any Fund that is administered or managed
by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Arranger” means Citibank, in its capacities as the sole lead arranger and sole bookrunner hereunder. 
 “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by
Section 12.04(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit K or any other form approved by the Administrative Agent. 

“Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as now or
hereinafter in effect, or any successor statute. 
 “Board” means the Board of Governors of the Federal
Reserve System of the U.S. or any successor Governmental Authority. 
 “Borrower Agreement” shall mean
that certain Export-Import Bank of the United States Working Capital Guarantee Program Borrower Agreement to be signed by the Borrower in connection with the execution of the Ex-Im Credit Agreement substantially in the form published by the Ex-Im
Bank at http://www.exim.gov/pub/pdf/ebd-w-16d.pdf, as such form shall be updated and revised by the Ex-Im Bank from time to time until execution by the Borrower. 
 “Borrower’s Deposit” means the cash amounts deposited by the Borrower with the Administrative Agent, from time to time, in accordance with the terms and provisions hereof.

 “Borrowing” means Loans of the same Type and Class, made, converted or continued on the same date
and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect. 
 “Borrowing
Base” means, as of any date, an amount equal to (a) the sum of (i) eighty percent (80%) of the aggregate amount of Eligible Accounts on such date plus (ii) fifty percent (50%) of the aggregate amount of
Eligible Inventory on such date plus (iii) one hundred percent (100%) of the cash held in the LC Cash Account as of such date of determination, minus (b) the Foreign Currency Letter of Credit Contingency Amount.

 “Borrowing Base Certificate” means a certificate, substantially in the form of Exhibit I
or in such other form as may be acceptable to the Administrative Agent, which has been completed and duly executed by a Responsible Officer of the Borrower. 
 “Borrowing Base Deficiency” occurs if at any time the total Risk Adjusted Revolving Credit Exposures exceeds the Borrowing Base then in effect. 

“Borrowing Request” means a request by the Borrower for a Borrowing in accordance with Section 2.03.

  
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 “Budget” means the budget that is set forth on Exhibit O
attached hereto and incorporated herein by reference of all costs needed or anticipated for the design and construction of the Improvements in accordance with the Loan Documents and all applicable Governmental Requirements and Requirements of Law,
and for soft costs and other related development costs, as such budget may be amended with the approval of the Administrative Agent from time to time as provided in this Agreement or otherwise in the Administrative Agent’s good faith reasonable
discretion, as same may be revised from time to time by mutual agreement of the Borrower and the Administrative Agent. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York
City or Dallas, Texas are authorized or required by Law to remain closed, and 
 (a) if such day relates to any fundings,
disbursements, settlements and payments in Dollars, or any related interest rate settings, or any other dealings in Dollars (or notices by the Borrower with respect thereto) to be made or carried out pursuant to this Agreement, any such day on which
dealings in deposits in Dollars are conducted by and between banks in the London interbank eurodollar market; 
 (b) if such day
relates to any fundings, disbursements, settlements and payments in Euro, or any related interest rate settings, or any other dealings in Euro to be carried out pursuant to this Agreement, a TARGET Day; and 

(c) if such day relates to any fundings, disbursements, settlements and payments in an Approved Currency other than Dollars or Euro, or
any related interest rate settings, or any other dealings in any Approved Currency other than Dollars or Euro to be carried out pursuant to this Agreement, any such day on which banks are open for foreign exchange business in the principal financial
center of the country of such Approved Currency. 
 “Canadian Dollars” means the lawful currency of
Canada. 
 “Capital Expenditure” means, for any period, with respect to any Person, the aggregate of all
expenditures by such Person and its Subsidiaries for the acquisition or leasing (pursuant to a Capital Lease) of fixed or capital assets that are required to be capitalized under GAAP on a consolidated balance sheet of such Person and its
Subsidiaries, excluding, without duplication, any such expenditures to the extent constituting (a) expenditures of insurance proceeds to acquire or repair any asset, or (b) leasehold improvement expenditures for which the Borrower or a
Subsidiary is reimbursed by the lessor, sublessor or sublessee. 
 “Capital Expenditure Threshold” has
the same meaning assigned thereto in Section 9.06. 
 “Capital Lease Obligations” of any
Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 

“Capital Leases” means, in respect of any Person, all leases which shall have been, or should have been, in
accordance with GAAP, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder. 
 “Cash Collateralize” means, to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the Issuing Bank or Lenders, as collateral for LC
Exposure or obligations of Lenders to fund participations in respect of LC Exposure, cash or deposit account balances or, if the 

  
 CREDIT AGREEMENT
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Person providing such collateral shall request, such other credit support approved by the Administrative Agent and the Issuing Bank (and the Borrower if such Cash Collateral is being provided by
a Defaulting Lender) in their sole discretion, in each case pursuant to documentation in form and substance satisfactory to the Administrative Agent and the Issuing Bank (and the Borrower, if applicable). “Cash Collateral”
shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 
 “Certificate of Substantial Completion” means a Certificate of Substantial Completion in the form of the American Institute of Architects contract document form G704-2000, attached
hereto as Exhibit N, or such other form as may be approved by the Borrower and the Administrative Agent, in their reasonable discretion. 
 “Change in Control” means an event or series of events by which: 
 (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or
its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan), other than the Permitted Holder, becomes the “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire, whether such right is exercisable
immediately or only after the passage of time (such right, an “option right”)), directly or indirectly, of thirty percent (30%) or more of the equity securities of PMFG entitled to vote for members of the board of directors or
equivalent governing body of PMFG on a fully-diluted basis (and taking into account all such securities that such “person” or “group” has the right to acquire pursuant to any option right); or 

(b) during any period of twelve (12) consecutive months, a majority of the members of the board of directors or other equivalent
governing body of PMFG cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was
approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or
other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body
(excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or
threatened solicitation of proxies or consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors); or 

(c) PMFG no longer holds 100% of the Equity Interests of Peerless, free and clear of all Liens (other than (i) the Liens securing the
Obligations and (ii) during the Ex-Im Period, to the extent required by the Ex-Im Bank, Liens securing the obligations under the Ex-Im Credit Agreement); 
 (d) PMFG no longer is a public company; or 
 (e) any “Change in Control”
as such term or similar concept is defined in any Subordinated Debt Document. 
 “Change in Law” means
the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any Law, rule, regulation or treaty, (b) any change in any Law, rule, 

  
 CREDIT AGREEMENT
– Page 6 

 
regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) the making or issuance of any request, rule,
guideline or directive (whether or not having the force of Law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all
requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or
any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law” introduced or adopted after the date hereof, regardless of
the date enacted, adopted or issued. 
 “Chattel Paper” has the meaning specified in the UCC and
including, without limitation, electronic chattel paper. 
 “Class” when used in reference to any Loan
or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Credit Loans, Term A Loans, Term B Loans, Incremental Revolving Loans, or Swingline Loans and, when used in reference to any Commitment,
refers to whether such Commitment is a Revolving Credit Commitment, Term A Loan Commitment, or Term B Loan Commitment. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor statute. 
 “Collateral” means all of the “Collateral” and Mortgaged Property referred to in the Collateral Documents, and all of the other Property and other Equity Interests of the
Loan Parties and other Persons that is or is intended under the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the Secured Parties. 

“Collateral Documents” means the Security Agreements, the Mortgages, the Guaranty Agreement, and any and all
other agreements, instruments, consents or certificates now or hereafter executed and delivered by the Borrower or any other Person (other than Secured Swap Agreements, Secured Treasury Management Agreements and participation or similar agreements
between any Lender and any other lender or creditor with respect to any Obligations pursuant to this Agreement) in connection with, or as security for or to guarantee the payment or performance of the Obligations, the Notes, this Agreement, or
reimbursement obligations under the Letters of Credit, as such agreements may be amended, modified, supplemented or restated from time to time. 
 “Commitment” means, a Revolving Credit Commitment, a Term A Loan Commitment, a Term B Commitment or a LC Commitment, or any combination thereof (as the context requires).

 “Communications” has the meaning set forth in Section 12.01(c)(i). 

“Completion” means when all of the following, in form and substance reasonably acceptable to the Administrative
Agent, have been delivered to and approved by Administrative Agent: (i) a certificate of occupancy (or its equivalent) from the appropriate Governmental Authority with respect to the Improvements; (ii) the Certificate of Substantial
Completion from the Design Professional and Contractor (and as verified by the Inspector); (iii) endorsement from the Title Company deleting any exception in the Title Insurance relating to completion of the Improvements and other exceptions
specified by the Administrative Agent that may be deleted pursuant to applicable regulations; (iv) a final release and waiver of Liens, in form and substance reasonably acceptable to the Administrative Agent, from the Contractor and, upon
request of the Administrative Agent, any other contractor or subcontractor (including any laborer, materialman, or other) involved with the construction of the Improvements; and (v) the Affidavit of Completion, duly recorded in the real
property records of the county in which the Land is located. 

  
 CREDIT AGREEMENT
– Page 7 

 “Completion Date” means the date is eighteen (18) calendar
months after the Effective Date subject to any extension due to Force Majeure. 
 “Compliance
Certificate” means a certificate substantially in the form of Exhibit H or in such other form as may be acceptable to the Administrative Agent. 
 “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

 “Consolidated EBITDA” means for any period, Consolidated Net Income for such period plus, without
duplication and only to the extent reflected as a charge or reduction in the statement of such Consolidated Net Income for such period and not excluded from Consolidated Net Income pursuant to the definition thereof, the sum of (a) income tax
expense, (b) Consolidated Interest Expense, (c) depreciation, depletion and amortization expense, (d) out-of-pocket expenses incurred in connection with the closure and sale of the Abilene facility, (e) transaction fees and
expenses incurred in connection with the negotiation, execution and closing of this Agreement and the Ex-Im Credit Agreement, and (f) any non-cash expenses, losses or other charges (including whether or not otherwise includable as a separate
item in the statement of such Consolidated Net Income for such period, non-cash losses on sales of assets (other than Inventory) outside of the ordinary course of business and any Inventory write up due to purchase accounting, but excluding losses
or charges resulting from write-downs or write-offs with respect to Accounts or Inventory, and including non-cash Restricted Payments and unrealized gains earned and losses incurred under Swap Agreements), in each case, determined on a consolidated
basis in accordance with GAAP, provided however that, for the avoidance of doubt, to the extent any such non-cash expenses or losses require cash payments in subsequent periods, such cash payments shall be deducted from the calculation of
Consolidated EBITDA in the periods in which such cash payments are made. 
 Consolidated EBITDA for a consecutive four quarter
period shall be calculated after giving effect, on a Pro Forma Basis, to Acquisitions and Dispositions made by the Borrower or a Consolidated Subsidiary during such period. Such pro forma adjustments shall be calculated in a manner reasonably
satisfactory to the Administrative Agent. 
 “Consolidated Fixed Charges” means, as of any date of
determination, the sum, without duplication, of (a) all Consolidated Interest Expense paid or payable in cash by any of the Borrower or its Consolidated Subsidiaries in respect of such period plus (b) all installments of principal due and
payable by any of the Borrower or its Consolidated Subsidiaries with respect to long-term Indebtedness and Indebtedness set forth in clauses (a) and (b) of the definition of “Funded Debt” during the period of
determination (including principal payment in respect of the Term Loans, but excluding voluntary prepayments of the Term Loans) plus (c) all earn-out payments paid or payable in cash during such period of determination, in each case determined
on a consolidated basis. 
 “Consolidated Funded Debt” means at any date the aggregate amount of all
Funded Debt of the Borrower and its Consolidated Subsidiaries determined on a consolidated basis. 
 “Consolidated
Funded Debt to EBITDA Ratio” means as of any date of determination, the ratio of (a) Consolidated Funded Debt as of such date to (b) Consolidated EBITDA for the four consecutive fiscal quarters ending on the applicable date of
determination. 

  
 CREDIT AGREEMENT
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 “Consolidated Interest Expense” means for any period the total cash
interest expense (including that attributable to Capital Leases) of the Borrower and its Consolidated Subsidiaries determined on a consolidated basis in accordance with GAAP. 
 “Consolidated Leverage Ratio” means, at any date, the ratio of (a) the aggregate of the total liabilities of Borrower and its Consolidated Subsidiaries as of such date as
determined on a consolidated basis in accordance with GAAP to (b) Consolidated Tangible Net Worth as of such date. 

“Consolidated Net Income” means for any period, the consolidated net income (or loss) of the Borrower and its
Consolidated Subsidiaries, determined in accordance with GAAP, including the income (or deficit) of any Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with any of the Borrower or its Subsidiaries if the
Administrative Agent has received financial information relating to such Person in form and substance reasonably satisfactory to the Administrative Agent; provided that there shall be excluded (a) the income (or deficit) of any Person in
which any Person has a joint interest, except to the extent that any such income is actually received by the Borrower or any of its Subsidiaries from such Person in the form of dividends or similar distributions (except in the case of the income and
earnings of Peerless Manufacturing (Zhenjiang) Co. Ltd. which shall not be excluded by clause (a) of this proviso), and (b) the undistributed earnings of any Subsidiary of the Borrower, to the extent that the declaration or payment
of dividends or similar distributions by such Subsidiary is not at the time permitted by the terms of any contractual obligation (other than under any Loan Document) or Requirement of Law applicable to such Subsidiary. 

“Consolidated Subsidiaries” means each Subsidiary of the Borrower (whether now existing or hereafter created or
acquired) the financial statements of which shall be (or should have been) consolidated with the financial statements of the Borrower in accordance with GAAP. 
 “Consolidated Tangible Net Worth” means the sum of the excess of total assets of the Borrower and its Consolidated Subsidiaries over total liabilities of the Borrower and its
Consolidated Subsidiaries, total assets and total liabilities each being determined on a consolidated basis in accordance with GAAP consistent with those applied in the preparation of the financial statements previously furnished to the
Administrative Agent in connection herewith, excluding however, from the determination of total assets all assets which would be classified as intangible assets under GAAP, including without limitation, good will, patents, trademarks, trade names,
copyrights, and franchises and excluding any obligations due from Affiliates. 
 “Construction Contract”
means, collectively or severally, as the context thereof shall suggest or require, all contracts and agreements entered into between the Borrower and each Contractor pertaining to the construction of the Improvements or any part thereof, and all
amendments and supplements thereto. 
 “Construction Plans” means the plans and specifications for the
construction of the Improvements, prepared by the Design Professional, and approved as required herein, all amendments thereof and supplements thereto, approved if and as required herein, and all other design, engineering or architectural work,
tests, reports, surveys, shop drawings and similar items related thereto. The Construction Plans shall, and shall include a statement signed by the Design Professional that the Construction Plans, conform to the recommendations of the soils report
obtained pursuant to this Agreement. 
 “Construction Schedule” means a construction schedule which
shall include the anticipated commencement and completion dates of each phase or aspect of construction of the Improvements, and such other information and detail regarding the construction of the Improvements as the Administrative Agent may
reasonably request. 

  
 CREDIT AGREEMENT
– Page 9 

 “Contingency Account” means a restricted account with Administrative
Agent funded with an amount equal to $490,000.00, which funds shall be used to for any cost overruns in connection with the Term B Loan. 
 “Contractor” means collectively or severally, as the context thereof shall suggest or require, the General Contractor and any other Person with whom the Borrower contracts (whether
for labor, materials, or otherwise) for the construction of the Improvements or any portion thereof, and who is reasonably acceptable to the Administrative Agent. 
 “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. For the purposes of this definition, and without limiting the generality of the foregoing, any Person that owns directly or indirectly ten percent (10%) or more of the Equity Interests having
ordinary voting power for the election of the managers or other governing body of a Person (other than as a limited partner of such other Person) will be deemed to “control” such other Person. “Controlling” and
“Controlled” have meanings correlative thereto. 
 “Debt Service Coverage Ratio”
means, as of the last day of each fiscal quarter, the ratio of (a) the sum of (i) the Consolidated EBITDA for the four fiscal quarter period ended on such determination date less (ii) cash Restricted Payments constituting of dividends
and distributions made by the Borrower and its Consolidated Subsidiaries to any Person other than to PMFG or a Subsidiary of PMFG during the four fiscal quarter period ended on such determination date less (iii) Maintenance Capex made during
the four fiscal quarter period ended on such determination date, less (iv) cash Taxes for the four fiscal quarter period ended on such determination date, to (b) Consolidated Fixed Charges. 

“Debtor Relief Laws” means the Bankruptcy Code of the United States of America, and all other liquidation,
conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in
effect. 
 “Default” means any event or condition which constitutes an Event of Default or which upon
notice, lapse of time or both would, unless cured or waived, become an Event of Default. 
 “Defaulting
Lender” means, subject to Section 2.12(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans or any Advance within two (2) Business Days of the date such Loans or such Advance, as
applicable, were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding
(each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the Swingline Lender, the Issuing Bank or any other
Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within two (2) Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent, the
Swingline Lender or the Issuing Bank in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation
to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such
writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it
will comply with its prospective funding obligations hereunder (provided that 

  
 CREDIT AGREEMENT
– Page 10 

 
such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), (d) has
defaulted on its funding obligations under other loan or credit agreements or similar financing agreements generally, or (e) has, or has a direct or indirect parent company that has, (i) become insolvent, or generally unable to pay its
debts as they become due, or admitted in writing its inability to pay its debts as they become due, (ii) become the subject of a proceeding under any Debtor Relief Law (or has taken any action in furtherance of or indicating its consent to or
acquiescence in any such proceeding), or (iii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business
or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity (or has taken any action in furtherance of or indicating its consent to or acquiescence in any such
appointment); provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long
as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such
Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a)
through (e) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.12(b)) upon delivery of written notice of such determination to the
Borrower, the Issuing Bank, the Swingline Lender and each Lender. 
 “Denton Property” means,
collectively, the Land, the Improvements, and the following, as such terms are defined in the applicable Mortgage: Minerals, Fixtures, Personalty, Contracts, Leases and Rents. 
 “Denton Property Contracts” means any Contract (as such term is defined in the applicable Mortgage) related to or which affects all or any portion of the operation or use of any
portion of the Denton Property, including all service contracts and all utility, maintenance and security contracts. 

“Design Professional” means, collectively or severally, as the context thereof shall suggest or require, each
architect, engineer, and other professional consultant and planner with whom the Borrower contracts, or with whom any other Design Professional subcontracts, to provide planning, design, architectural, engineering, construction supervision (other
than the Inspector), or other similar services relating to the Improvements, or any part thereof. 
 “Design Services
Contract” means collectively or severally, as the context thereof shall suggest or require, all contracts and agreements, and all amendments thereto, entered into between the Borrower and each Design Professional, or each Design
Professional and its subcontracted Design Professional, relating to the design and/or construction of the Improvements. 

“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition
(including any sale and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith.

 “Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars,
such amount, and (b) with respect to any amount denominated in any Approved Currency other than Dollars, the equivalent amount thereof in Dollars as determined by the Administrative Agent or the Issuing Bank, as the case may be, at such time on
the basis of the Spot Rate on any date of determination for the purchase of Dollars with such other Approved Currency. 

  
 CREDIT AGREEMENT
– Page 11 

 “Dollars” or “$” refers to lawful money of
the U.S. 
 “Domestic First-Priority Collateral” means, during the Ex-Im Period, Accounts (other than
Export-Related Accounts), Inventory (other than Export-Related Inventory), General Intangibles (other than Export-Related General Intangibles), Pledged Equity Interests and Mortgaged Properties pledged to secure the Obligations and proceeds of the
foregoing. 
 “Domestic Subsidiary” means any Subsidiary that is organized under the laws of the United
States of America or any state thereof or the District of Columbia. 
 “Domestic Wholly-Owned
Subsidiary” means any Domestic Subsidiary that is also a Wholly-Owned Subsidiary. 
 “Draw
Period” means a calendar month. 
 “Draw Request” means a request submitted by the Borrower
to the Administrative Agent as a condition precedent to an Advance, in the form of Exhibit F attached hereto, together with a completed Draw Spread Sheet in the form of Exhibit F-1 attached hereto and such invoices, documents
and certifications as the Administrative Agent may reasonably require. 
 “Effective Date” means the
date on which the conditions specified in Section 6.01 are satisfied (or waived in accordance with Section 12.02). 
 “Eligible Accounts” means Accounts of the Borrower and its Domestic Subsidiaries which the Administrative Agent, in its reasonable discretion, determines to be Eligible Accounts.
Without limiting the reasonable discretion of the Administrative Agent to establish other criteria of eligibility, Eligible Accounts shall exclude any Account: 
 (a) that is not subject to a valid, perfected first priority Lien in favor of the Administrative Agent or that is subject to any Lien in favor of any Person other than (i) the Administrative Agent
for the benefit of the Secured Parties and (ii) during the Ex-Im Period, the second priority Liens in favor of the Ex-Im Lender for the benefit of the Ex-Im Lender and the Ex-Im Bank; 

(b) that is not owned by the Borrower or its Domestic Subsidiaries or is subject to any right, claim or interest of another Person other
than (i) the Liens in favor of the Administrative Agent for the benefit of the Secured Parties and (ii) during the Ex-Im Period, the second priority Liens in favor of the Ex-Im Lender for the benefit of the Ex Im Lender and the Ex-Im Bank;

 (c) as to which any covenant, representation or warranty contained in the Loan Documents with respect to such Account has
both (i) been breached, and (ii) such breach is still existing at the relevant date of determination; 
 (d) with
respect to which an invoice has not been sent; 
 (e) which is not due and payable within sixty (60) days after its invoice
date; 
 (f) that arises from a sale of goods to or performance of services for an employee of the Borrower or its Domestic
Subsidiaries; 
 (g) that is backed by a letter of credit unless the Inventory covered by the subject letter of credit has been
shipped; 

  
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 (h) that is due and payable from an Account Debtor who (i) applies for, suffers, or
consents to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii) admits in writing its inability, or is generally unable, to pay its
debts as they become due, (iii) makes a general assignment for the benefit of creditors, (iv) commences a voluntary case under any Debtor Relief Laws (as now or hereafter in effect), (v) is adjudicated as bankrupt or insolvent,
(vi) files a petition seeking to take advantage of any other Law providing for the relief of debtors, (vii) acquiesces to, or fails to have dismissed, any petition which is filed against it in any involuntary case under such Debtor Relief
Laws; 
 (i) with respect to which the obligation of payment of the Account Debtor is or may be conditional for any reason
whatsoever, including, without limitation, Accounts that are billed in advance (other than progress billings or similar billings in advance or on delivery against deliverables or standards specified in the applicable contract, provided that
such deliverables have been received or standards attained) or arise from a bill-and-hold, guaranteed sale, sale-and-return, sale on approval, consignment or any other repurchase or return basis; 

(j) that is evidenced by chattel paper; 
 (k) that is subject to any defense or counterclaim that has been asserted by the applicable Account Debtor, or any setoff, contra account, credit, allowance or adjustment by the Account Debtor because of
returned, inferior or damaged Inventory or services, or for any other reason, except (i) for customary discounts allowed by the applicable Loan Party in the ordinary course of business for prompt payment, and (ii) to the extent there is
any agreement between the applicable Loan Party and the relevant Account Debtor, for any rebate, discount, concession or release of liability in respect of such Account, in whole or in part, all of which discounts or allowances are reflected in the
calculation of the face value of each respective invoice related thereto; or for which the Account Debtor is also a creditor or supplier of the Borrower; 
 (l) to the extent it includes any finance charges, service charges, taxes, discounts, credits, allowances and retainages; 
 (m) owing by an Account Debtor if twenty-five percent (25%) or more of the aggregate balance of Accounts owing by such Account Debtor is ineligible, unless specifically approved by the Administrative
Agent in its sole discretion; 
 (n) with respect to which the Account Debtor is the U.S. or any other federal government body
unless such accounts are duly assigned to the Administrative Agent for the benefit of the Secured Parties pursuant to documentation reasonably satisfactory to the Administrative Agent in compliance with all applicable governmental requirements
(including, without limitation, the Federal Assignment of Claims Act of 1940, as amended); 
 (o) which is for that portion of
an account balance owed by a single Account Debtor that would exceed thirty percent (30%) (or such greater percentage as permitted by the Administrative Agent in its sole discretion) of the aggregate amount of all Accounts; 

(p) that is due and payable from an Account Debtor that is not a resident or citizen of the United States or a province in or territory
of Canada which has adopted the Personal Property Security Act which is substantially similar to the Personal Property Security Act in the Province of Ontario as of the Effective Date, unless such Account is secured by a letter of credit issued by a
bank acceptable to the Administrative Agent which letter of credit shall be in form and substance acceptable to the Administrative Agent and/or is adequately covered by foreign credit insurance provided by a solvent insurer acceptable to the
Administrative Agent; 

  
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 (q) that are otherwise deemed ineligible for any reason by the Administrative Agent in its
reasonable discretion; 
 (r) for which any of the Inventory giving rise to such Account have been returned, rejected or
repossessed; 
 (s) for which the Inventory giving rise to such Account have not been delivered to and accepted by the Account
Debtor, the services giving rise to such Account have not been performed by the Borrower or its Domestic Subsidiaries or the Account otherwise does not represent a final sale, other than, in each case, any Accounts that arise from progress billings
or similar billings in advance or on delivery against deliverables or standards specified in the applicable contract, provided that such deliverables have been received or standards attained; 

(t) except for the U.S. Navy, that is due and payable from a military Account Debtor; 

(u) that is due and payable in a currency other than Dollars, Canadian Dollars or Euros; 

(v) that the Administrative Agent, in its reasonable judgment, deems uncollectible for any reason; 

(w) which remains unpaid more than ninety (90) days past its invoice date; 

(x) during the Ex-Im Period, that are Export-Related Accounts, except to the extent such Export-Related Accounts are fully insured and
not part of the borrowing base under the Ex-Im Credit Agreement; or 
 (y) that does not arise from the sale of Inventory in the
ordinary course of the Borrower’s or any of its Domestic Subsidiaries’ business. 
 If any Account (or portion
thereof) at any time ceases to be an Eligible Account, then such Account (or the applicable portion thereof) shall promptly be excluded from the calculation of the Borrowing Base. 

“Eligible Assignee” means any Person that meets the requirements to be an assignee under
Section 12.04(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required under Section 12.04(b)(iii)). Notwithstanding the foregoing or anything to the contrary herein or in any other
Loan Document, “Eligible Assignee” shall not include the Borrower or any of the Borrower’s Affiliates or Subsidiaries or any Loan Party or any Loan Party’s Affiliates or Subsidiaries. 

“Eligible Inventory” means Inventory of the Borrower and its Domestic Subsidiaries, valued at the lower of cost
or market, as determined in accordance with GAAP, which the Administrative Agent, in its reasonable discretion, determines to be Eligible Inventory. Without limiting the reasonable discretion of the Administrative Agent to establish other criteria
of eligibility, Eligible Inventory shall exclude any such Inventory: 
 (a) that is not subject to a valid, perfected first
priority Lien in favor of the Administrative Agent or that is subject to any Lien in favor of any Person other than (i) the Administrative Agent for the benefit of the Secured Parties and (ii) during the Ex-Im Period, the second priority
Liens in favor of the Ex-Im Lender for the benefit of the Ex-Im Lender and the Ex-Im Bank; 

  
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 (b) that is not owned by the Borrower or its Domestic Subsidiaries or is subject to any
right, claim or interest of another Person other than (i) the Liens in favor of the Administrative Agent for the benefit of the Secured Parties and (ii) during the Ex-Im Period, the second priority Liens in favor of the Ex-Im Lender for
the benefit of the Ex Im Lender and the Ex-Im Bank; 
 (c) that is located at an address that has not been approved in writing
by the Administrative Agent (which approval the Administrative Agent shall not unreasonably withhold, condition or delay), unless such location (i) is owned in fee by the Borrower or any Domestic Subsidiary, or (ii) satisfies
clause (e) or (f) of this definition; 
 (d) that is placed by the Borrower or any of its Domestic
Subsidiaries on consignment or held by the Borrower or any of its Domestic Subsidiaries on consignment from another Person; 

(e) that is in transit to the U.S. unless (A) the Administrative Agent is in possession of all documents of title such as, but not
limited to, bills of lading necessary to perfect a first priority security interest in such Inventory, and (B) the Borrower or any of its Domestic Subsidiaries has delivered to the Administrative Agent satisfactory evidence that such Inventory
is insured against such risks and in such amounts as the Administrative Agent, in the exercise of its reasonable determination, determines to be reasonable; 
 (f) that is in the possession of a processor or bailee, or located on premises leased or subleased to the Borrower or any of its Domestic Subsidiaries, or on premises subject to a mortgage in favor of a
Person other than the Administrative Agent, unless, in each case, such processor or bailee or mortgagee or the lessor or sublessor of such premises, as the case may be, has executed and delivered all documentation which the Administrative Agent
shall reasonably require to evidence the subordination or other limitation or extinguishment of such Person’s rights with respect to such Inventory and the Administrative Agent’s right to gain access thereto, provided,
however, that Inventory with an aggregate value of not more than $1,000,000 at any time shall not be excluded pursuant to this clause (f) if it is located at a site of a contractor, subcontractor or customer of the Borrower or any
Domestic Subsidiary or any customer of any such contractor or subcontractor; 
 (g) that is produced in violation of the Fair
Labor Standards Act or subject to the “hot goods” provisions contained in 29 U.S.C. § 215 or any successor statute or section; 
 (h) as to which any covenant, representation or warranty with respect to such Inventory contained in the Loan Documents has both (i) been breached, and (ii) such breach is still existing at the
relevant date of determination; 
 (i) that is not located in the U.S. or in any territory or possession of the U.S. that has
adopted Article 9 of the UCC or in any province in Canada which has adopted the Personal Property Security Act which is substantially similar to the Personal Property Security Act in effect in the Province of Ontario on the Effective Date,
unless permitted pursuant to clause (e) above or expressly permitted by Administrative Agent on terms acceptable to Administrative Agent; 
 (j) that is sample or demonstration Inventory; 
 (k) that consists of proprietary
software (i.e. software designed solely for the Borrower’s internal use and not intended for resale); 

  
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 (l) that is damaged, slow moving, obsolete, returned (unless such returned Inventory is
saleable in the normal course of the Borrower’s operations), defective, recalled or unfit for further processing or not currently saleable in the normal course of the Borrower’s operations; 

(m) that has been previously exported from the U.S.; 
 (n) that is perishable or live; 
 (o) that the Borrower has returned, has
attempted to return, is in the process of returning or intends to return to the vendor thereof; 
 (p) that is work-in-progress
Inventory; 
 (q) that is Inventory otherwise deemed ineligible by the Administrative Agent in its reasonable discretion;

 (r) that is to be incorporated into Inventory whose sale would result in an Account which would not be an Eligible Account;
or 
 (s) during the Ex-Im Period, that is Export-Related Inventory. 

“Eligible Person” means a sole proprietorship, partnership, limited liability partnership, corporation or limited
liability company which (a) is domiciled, organized or formed, as the case may be, in the U.S., whether or not such entity is owned by a foreign national or foreign entity; (b) is in good standing in the state of its formation or otherwise
authorized to conduct business in the U.S.; (c) is not currently suspended or debarred from doing business with the U.S. government or any instrumentality, division, agency or department thereof; (d) exports or plans to export Items;
(e) operates and has operated as a going concern for at least one (1) year; (f) has a positive tangible net worth determined in accordance with GAAP; and (g) has revenue generating operations relating to its core business
activities for at least one (1) year. 
 “EMU Legislation” means the legislative measures of the
European Council for the introduction of, changeover to or operation of a single or unified European currency. 

“Environmental Laws” means any and all Governmental Requirements relating to the environment or to emissions,
discharges, releases or threatened releases of pollutants, contaminants, chemicals, or industrial, toxic or hazardous substances or wastes into the environment including ambient air, surface water, ground water, or land, or otherwise relating to the
manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants, chemicals, or industrial, toxic or hazardous substances or wastes. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages,
costs of environmental remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling,
transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement
or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited
liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such Equity Interest. 

  
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 “ERISA” means the Employee Retirement Income Security Act of 1974,
as amended, and any successor statute. 
 “ERISA Affiliate” means each trade or business (whether or not
incorporated) which together with the Borrower or a Subsidiary would be deemed to be a “single employer” within the meaning of Section 4001(b)(1) of ERISA or subsections (b), (c), (m) or (o) of Section 414 of the
Code. 
 “ERISA Event” means (a) a “Reportable Event” described in Section 4043 of
ERISA and the regulations issued thereunder, (b) the withdrawal of the Borrower, a Subsidiary or any ERISA Affiliate from a Plan during a plan year in which it was a “substantial employer” as defined in Section 4001(a)(2) of
ERISA, (c) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, (d) the institution of proceedings to terminate a Plan by the PBGC, (e) receipt of
a notice of withdrawal liability pursuant to Section 4202 of ERISA or (f) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer,
any Plan. 
 “Euro” means the lawful currency of the Participating Member States introduced in
accordance with the EMU Legislation 
 “Eurodollar” when used in reference to any Loan or Borrowing,
refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 
 “Event of Default” has the meaning assigned such term in Section 10.01. 
 “Excepted Liens” means: (a) Liens for Taxes, assessments or other governmental charges or levies which are not delinquent or which are being contested in good faith by
appropriate action and for which adequate reserves have been established and maintained in accordance with GAAP; (b) Liens (other than any Lien imposed by ERISA) in connection with workers’ compensation, unemployment insurance or other
social security, old age pension or public liability obligations which are not delinquent or which are being contested in good faith by appropriate action and for which adequate reserves have been established and maintained in accordance with GAAP;
(c) statutory landlord’s liens, operators’, vendors’, carriers’, warehousemen’s, repairmen’s, mechanics’, suppliers’, workers’, materialmen’s, construction or other like Liens arising by
operation of law in the ordinary course of business each of which are not overdue for a period of more than thirty (30) days, or which are being contested in good faith by appropriate action and for which adequate reserves have been established
and maintained in accordance with GAAP; (d) Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off or similar rights and remedies and burdening only deposit accounts or other
funds maintained with a creditor depository institution, provided that no such deposit account is a dedicated cash collateral account or is subject to restrictions against access by the depositor in excess of those set forth by regulations
promulgated by the Board and no such deposit account is intended by the Borrower or any of its Subsidiaries to provide collateral to the depository institution; (e) easements, restrictions, servitudes, permits, conditions, covenants, exceptions
or reservations in any Property of the Borrower or any Subsidiary, which do not secure any monetary obligations and which in the aggregate do not materially impair the use of such Property for the purposes of which such Property is held by the
Borrower or any Subsidiary or materially impair the value of such Property subject thereto; (f) minor defects and irregularities in title to any Property which do not secure any monetary obligations and which in the aggregate do not materially
impair use of such Property for the purposes for which such 

  
 CREDIT AGREEMENT
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Property is held by the Borrower and any Subsidiary or materially impair the value of such Property subject thereto; (g) Liens on cash or securities pledged to secure performance of tenders,
surety and appeal bonds, government contracts, performance and return of money bonds, bids, trade contracts, leases, statutory obligations, regulatory obligations and other obligations of a like nature incurred in the ordinary course of business and
(h) judgment and attachment Liens not giving rise to an Event of Default, provided that any appropriate legal proceedings which may have been duly initiated for the review of such judgment shall not have been finally terminated or the
period within which such proceeding may be initiated shall not have expired and no action to enforce such Lien has been commenced; provided, further that Liens described in clauses (a) through (d) shall remain
“Excepted Liens” only for so long as no action to enforce such Lien has been commenced and no intention to subordinate the first priority Lien granted in favor of the Administrative Agent and the Secured Parties is to be
hereby implied or expressed by the permitted existence of such Excepted Liens. 
 “Excluded Taxes”
means, any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch
profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax
(or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan
or Commitment pursuant to a Law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 5.04(b)) or (ii) such
Lender changes its lending office, except in each case to the extent that, pursuant to Section 5.03, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party
hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 5.03(g) and (d) any U.S. federal withholding Taxes imposed under FATCA.

 “Ex-Im Credit Agreement” means an Ex-Im Credit Agreement to be entered into between Borrower and
Ex-Im Lender pursuant to which Ex-Im Lender makes loans to Borrower and such loans are partially guaranteed by Ex-Im Bank. 

“Ex-Im Bank” means the Export-Import Bank of the United States. 

“Ex-Im Effective Date” means the date upon which each of the conditions to effectiveness set forth in the Ex-Im
Credit Agreement have been satisfied or waived in accordance with the terms of the Ex-Im Credit Agreement. 
 “Ex-Im
Export-Related Collateral” means the collateral securing the Ex-Im Credit Agreement comprised of Export-Related Accounts, Export-Related Inventory and Export-Related General Intangibles and proceeds of the foregoing. 

“Ex-Im Lender” means Citibank. 
 “Ex-Im Other Collateral” means the collateral securing the Ex-Im Credit Agreement other than the Ex-Im Export-Related Collateral; provided that to the extent permitted by the Ex-Im
Bank in writing, the Mortgaged Properties and the Pledged Equity Interests shall not be included as Ex-Im Other Collateral. 

“Ex-Im Period” means the period from and after the Ex-Im Effective Date through and including the Ex-Im
Termination Date. 

  
 CREDIT AGREEMENT
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 “Ex-Im Termination Date” means the date upon which the commitments
to lend under the Ex-Im Credit Agreement have expired and all obligations under the Ex-Im Credit Agreement have been paid in full. 
 “Existing Credit Agreement” means that certain Revolving Credit and Term Loan Agreement originally dated April 30, 2008, as amended, by and among Peerless, the financial
instructions from time to time signatory thereto and Comerica Bank, as agent for such lenders. 
 “Export-Related
Accounts” means “Export-Related Accounts Receivable” as defined in the Borrower Agreement. 

“Export-Related General Intangibles” has the meaning set forth in the Borrower Agreement. 

“Export-Related Inventory” has the meaning set forth in the Borrower Agreement. 

“Extraordinary Receipt” means any cash received by or paid to or for the account of any Person not in the
ordinary course of business, including tax refunds (other than the tax refund anticipated by the Borrower to be received in the Borrower’s 2013 fiscal year in the amount of approximately $2,500,000), pension plan reversions, proceeds of
insurance (other than proceeds of business interruption insurance to the extent such proceeds constitute compensation for lost earnings), condemnation awards (and payments in lieu thereof) and indemnity payments. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or
successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the
Code. 
 “Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of
New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from
three (3) Federal funds brokers of recognized standing selected by it. 
 “Fee Letter” means the
letter agreement, dated July 12, 2012 and executed on July 13, 2012, by PMFG and Citibank. 
 “Financial
Officer” means, for any Person, the chief financial officer, principal accounting officer, treasurer or controller of such Person. Unless otherwise specified, all references herein to a Financial Officer means a Financial Officer of the
Borrower. 
 “Force Majeure” means, with respect to the Improvements, any event, act or condition which
causes a delay in the completion of the Improvements and is outside the Borrower’s control, but only to the extent that: 

(a) such event does not arise out of (i) the gross negligence, willful misconduct of the Borrower, (ii) unexcused late
performance by the General Contractor, any Contractor, any subcontractor or the Architect for reasons other than those described in subparagraph (b) below, (iii) any cause or circumstance resulting in delays, stoppage or any other
interference with the completion of the Improvements caused by the insolvency, bankruptcy or any lack of funds by the Borrower or any Affiliate thereof, or (iv) a default by the Borrower under the Loan Documents or the failure by the Borrower
to comply with any of the terms or conditions of the Loan Documents; and 

  
 CREDIT AGREEMENT
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 (b) such event consists of an act of God (such as tornado, flood, hurricane, etc.), fires
and other casualties; strikes, lockouts or other labor disturbances; war, terrorist acts, riots, insurrections or civil commotions; embargos, shortages or unavailability of materials, supplies, labor, equipment and systems that first arise after the
date hereof, but only to the extent caused by another act, event or condition covered by this subparagraph (b); sabotage (excluding sabotage by the Borrower or any Loan Party or any of their Affiliates; vandalism (excluding vandalism by the
Borrower or any Loan Party, or any of their Affiliates); Requirements of Law or Governmental Requirements enacted by any Governmental Authority after the date hereof (unless the Borrower should, in the exercise of due diligence and prudent judgment,
have anticipated such enactment); judicial or governmental orders or final judgments entered by courts of competent jurisdiction; or any similar types of events; 
 provided, however, that (i) the Borrower has sought to mitigate the impact of the delay, (ii) the period during which Force Majeure exists shall commence on the date that the Borrower has
given Administrative Agent written notice describing in reasonable detail the event which constitutes the Force Majeure, and (iii) any delay resulting from the foregoing shall terminate on the earlier of the date which is one hundred eighty
(180) days after the commencement of such Force Majeure as provided herein, or the date that such Force Majeure no longer exists, whether or not notice of such termination is given to the Administrative Agent, as determined by the
Administrative Agent in its reasonable discretion, but in no event beyond the Term B Loan Maturity Date. 

“Foreign Currency Letter of Credit Contingency Amount” means, at any time, an amount equal to 10% of the
aggregate undrawn amount of all Letters of Credit denominated in an Approved Currency other than Dollars outstanding at such time. 
 “Foreign Lender” means (a) if the Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident
or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. 

“Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 

“Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to the Issuing Bank,
such Defaulting Lender’s Applicable Percentage of the outstanding LC Exposure with respect to Letters of Credit issued by such Issuing Bank other than LC Exposure as to which such Defaulting Lender’s participation obligation has been
reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof and (b) with respect to any Swingline Lender, such defaulting Lender’s Applicable Percentage of outstanding Swingline Loans made by such Swingline
Lender other than Swingline Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders. 
 “Fund” means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions
of credit in the ordinary course of its activities. 
 “Funded Debt” of any Person shall mean, without
duplication, (a) all indebtedness of such Person for borrowed money or for the deferred purchase price of property or services as of such date (including earn-out obligations but excluding operating leases and trade liabilities incurred in the
ordinary course of business and payable in accordance with customary practices) or which is evidenced by a note, bond, debenture or similar instrument, (b) the principal component of all obligations of such Person under

  
 CREDIT AGREEMENT
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Capital Leases, (c) all reimbursement obligations (actual, contingent or otherwise) of such Person in respect of letters of credit, bankers acceptances or similar obligations issued or
created for the account of such Person, (d) all liabilities of the type described in (a), (b) and (c) above that are secured by any Liens on any property owned by such Person as of such date even though such Person has not assumed or
otherwise become liable for the payment thereof, the amount of which is determined in accordance with GAAP; provided however that so long as such Person is not personally liable for any such liability, the amount of such liability shall be
deemed to be the lesser of the fair market value at such date of the property subject to the Lien securing such liability and the amount of the liability secured, and (e) all guarantee obligations of such Person in respect of any liability
which constitutes Funded Debt; provided however that Funded Debt shall not include any indebtedness under any Swap Agreement prior to the occurrence of a termination event with respect thereto. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to
time subject to the terms and conditions set forth in Section 1.05. 
 “General Contractor”
means a general contractor, licensed in the State of Texas, acceptable to the Administrative Agent, which acceptance shall not be unreasonably withheld, conditioned or delayed. 

“General Intangible” has the meaning set forth in the UCC. 

“Governmental Authority” means the government of the U.S., any other nation or any political subdivision thereof,
whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity with jurisdiction exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Governmental Requirement” means any Law, statute, code, ordinance, order, determination, rule, regulation,
judgment, decree, injunction, franchise, permit, certificate, license, authorization or other directive or requirement of any Governmental Authority, whether now or hereinafter in effect. 

“Guarantors” means (a) all Domestic Subsidiaries of the Borrower (except Propulsys), (b) each other
Domestic Subsidiary that guarantees the Obligations pursuant to Section 8.13, and (c) each other Person that guarantees the Obligations. 
 “Guaranty Agreement” means an agreement executed by one or more of the Guarantors in form and substance satisfactory to the Administrative Agent, unconditionally guarantying on a
joint and several basis, payment of the Obligations, as the same may be amended, modified or supplemented from time to time. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic
substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature
regulated by any Environmental Law. 
 “Highest Lawful Rate” means, with respect to each Lender, the
maximum nonusurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged or received on the Notes or on other Obligations under Laws applicable to such Lender which are presently in effect or,
to the extent allowed by Law, under such applicable Laws which may hereafter be in effect and which allow a higher maximum nonusurious interest rate than applicable Laws allow as of the date hereof. 

  
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 “Improvements” means the improvements to be constructed on the Land
pursuant to the Construction Contract in accordance with the Construction Plans, and which is generally described as follows: an 80,000-square-foot manufacturing facility located on approximately 33 gross acres in Denton County, Texas and will
support PMFG’s and its Subsidiaries’ global supply chain needs. 
 “Increase Effective Date”
has the meaning set forth in Section 2.08(a). 
 “Increase Joinder” has the meaning set
forth in Section 2.08(c). 
 “Incremental Revolving Loan” has the meaning set forth in
Section 2.08(c). 
 “Indebtedness” of any Person means, without duplication, (a) all
obligations of such Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under
conditional sale or other title retention agreements relating to property acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase price of property or services (including earn-out obligations but
excluding accounts payable incurred in the ordinary course of business), (e) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on
property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (f) all guarantees by such Person of Indebtedness of others, (g) all Capital Lease Obligations of such Person, (h) all
obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (i) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances, (j) the
liquidation value of all mandatorily redeemable preferred Equity Interests of such Person and (k) all obligations of Swap Agreements to the extent required to be reflected on a balance sheet of such Person. The Indebtedness of any Person shall
include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such
entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. 

“Indemnified Taxes” means(a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment
made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 
 “Indemnitees” has the meaning set forth in Section 12.03(b). 
 “Information” has the meaning set forth in Section 12.11. 
 “Inspector” means, collectively, such Person or Persons designated by the Administrative Agent from time to time to assist the Administrative Agent with matters related to the
costing, plan review, and inspection of, and other matters related to, construction of the Improvements. 

“Intercreditor Agreement” means that certain Intercreditor Agreement to be entered into between the
Administrative Agent, on behalf of the Secured Parties, the Ex-Im Lender and the Borrower on or prior to the Ex-Im Effective Date. 
 “Interest Election Request” means a request by the Borrower to convert or continue a Borrowing in accordance with Section 2.05. 

“Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swingline Loan), the last day
of each March, June, September and December, (b) with respect to any Eurodollar Loan, the 

  
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last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more than three
(3) months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three (3) months’ duration after the first day of such Interest Period and (c) with respect to any Swingline Loan, the
date that such Loan is required to be repaid. 
 “Interest Period” means with respect to any Eurodollar
Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one (1), two (2), three(3) or six (6) months thereafter, as the Borrower may elect; provided
that (a) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which
case such Interest Period shall end on the next preceding Business Day and (b) any Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically
corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. Interest shall accrue from and including the first day of an Interest Period to but
excluding the last day of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such
Borrowing. 
 “Inventory” has the meaning set forth in the UCC. 

“Investment” means, for any Person: (a) the acquisition (whether for cash, Property, services or securities
or otherwise) of Equity Interests of any other Person or any agreement to make any such acquisition (including, without limitation, any “short sale” or any sale of any securities at a time when such securities are not owned by the Person
entering into such short sale) or any capital contribution to any other Persons; (b) the making of any deposit with, or advance, loan or capital contribution to, assumption of Indebtedness of, purchase or other acquisition of any other
Indebtedness or equity participation or interest in, or other extension of credit to, any other Person (including the purchase of Property from another Person subject to an understanding or agreement, contingent or otherwise, to resell such Property
to such Person, but excluding any such advance, loan or extension of credit having a term not exceeding ninety (90) days representing the purchase price of inventory or supplies sold by such Person in the ordinary course of business);
(c) the purchase or acquisition (in one or a series of transactions) of Property of another Person that constitutes a business unit or (d) the entering into of any guarantee of, or other contingent obligation (including the deposit of any
Equity Interests to be sold) with respect to, Indebtedness or other liability of any other Person and (without duplication) any amount committed to be advanced, lent or extended to such Person. 

“IRS” means the United States Internal Revenue Service. 

“Issuing Bank” means Citibank and any other Lender that has, at the request of Borrower, agreed to issue Letters
of Credit hereunder and that is reasonably acceptable to the Administrative Agent, in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.09(i). An Issuing Bank may, in
its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of such Issuing Bank. As used herein, the term “Issuing Bank” shall mean “each Issuing Bank” or “the applicable Issuing Bank,” as the
context may require, and shall include any Affiliate of an Issuing Bank with respect to Letters of Credit issued by such Affiliate. 
 “Items” has the meaning set forth in the Borrower Agreement. 

  
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 “Land” means the real Property described in the applicable Mortgage
relating to the Denton Property. 
 “Law” means (i) a statute, permit, ordinance, treaty, rule or
regulation of any Governmental Authority, (ii) a court decision, judgment, order, decree, injunction or rule, and (iii) a regulatory bulletin or guidance, or examination order or recommendation of a Governmental Authority. 

“LC Cash Account” means a deposit account that the Borrower establishes with the Administrative Agent, which
account shall be subject to a control agreement reasonably acceptable to the Administrative Agent, and the cash in such account shall serve as additional Collateral for the Obligations. 

“LC Collection Account” has the meaning assigned such term in Section 2.09(j). 

“LC Commitment” at any time means the amount equal to the Revolving Credit Commitment. 

“LC Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of Credit. 

“LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of
Credit at such time plus (b) the Dollar Equivalent of the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time or discharged and replaced by an ABR Revolving Credit Loan or a
Swingline Loan pursuant to Section 2.09(e). The LC Exposure of any Revolving Credit Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time. For purposes of computing the amount available to be drawn
under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any
amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Lenders” means the Persons listed on Annex I and any other Person that shall have become a party
hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. 
 “Letter of Credit” means any letter of credit issued pursuant to this Agreement, including, without limitation, all Warranty Letters of Credit. 

“Letter of Credit Agreements” means all letter of credit applications and other agreements (including any
amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower (whether for itself or any Subsidiary as the account party), with the Issuing Bank relating to any Letter of Credit. 

“LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on
Reuters Screen LIBOR01 Page (or on any successor or substitute page of such Service, or any successor to or substitute for such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by
the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two (2) Business Days prior to the
commencement of such Interest Period, as the rate for Dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the “LIBO Rate” with
respect to such Eurodollar Borrowing for such Interest Period shall be the rate at which Dollar deposits of 

  
 CREDIT AGREEMENT
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$5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank
market at approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period. 
 “Lien” means any interest in Property securing an obligation owed to, or a claim by, a Person other than the owner of the Property, whether such interest is based on the common
law, statute or contract, and whether such obligation or claim is fixed or contingent, and including but not limited to the lien or security interest arising from a mortgage, encumbrance, pledge, security agreement, conditional sale or trust receipt
or a lease, consignment or bailment for security purposes. The term “Lien” shall include easements, restrictions, servitudes, permits, conditions, covenants, exceptions or reservations. For the purposes of this Agreement, the
Borrower and its Subsidiaries, as applicable, shall be deemed to be the owner of any Property which they have acquired or hold subject to a conditional sale agreement, or leases under a financing lease or other arrangement pursuant to which title to
the Property has been retained by or vested in some other Person in a transaction intended to create a financing. 

“Loan Documents” means this Agreement, the Notes, the Letter of Credit Agreements, the Letters of Credit, each
Compliance Certificate, each Borrowing Base Certificate, the Guaranty Agreement, the Fee Letter, the Collateral Documents and, during the Ex-Im Period, the Intercreditor Agreement, together with any and all renewals, extensions and restatements of,
and amendments and modifications to, any such agreements, documents and instruments, but excluding any Secured Swap Agreements and Secured Treasury Management Agreements. 
 “Loan Party” means as applicable, any of the Borrower and each Guarantor, and “Loan Parties” means all of the foregoing. 

“Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. A
“Loan” may also be an Advance of Term B Loan proceeds, if applicable. 
 “Maintenance
Capex” means the lesser of (a) the actual amount paid by the Borrower and its Consolidated Subsidiaries in cash on account of Capital Expenditures (other than Capital Expenditures made in connection with the Denton Property and
Capital Expenditures made by Peerless Manufacturing (Zhenjiang) Co. Ltd. for the building of a manufacturing plant in Zhenjiang, China to the extent permitted pursuant to Section 9.06) determined on a consolidated basis or (b) the
depreciation expense of Borrower and its Consolidated Subsidiaries as determined on a consolidated basis in accordance with GAAP with respect to such Capital Expenditures. 
 “Major Subcontractor” means any subcontractor of the General Contractor or the Borrower, which has a contract for providing materials, services or specifically fabricated materials
for the construction of the Improvements in an amount of $250,000 or more. 
 “Material Adverse Effect”
means a material adverse change in, or material adverse effect on (a) the business, operations, Property, condition (financial or otherwise) or prospects of the Borrower and the Subsidiaries taken as a whole, (b) the ability of the
Borrower, any Subsidiary or any other Loan Party to perform any of its obligations under any Loan Document, (c) the validity or enforceability of any Loan Document, (d) the value of the Denton Property or (e) the rights and remedies
available to the Administrative Agent, any other Agent, the Issuing Bank, the Swingline Lender or any Lender under any Loan Document. 
 “Material Indebtedness” means Indebtedness (other than the Loans and Letters of Credit, but including obligations in respect of one or more Swap Agreements and Treasury Management

  
 CREDIT AGREEMENT
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Agreements) of any one or more of the Borrower and its Subsidiaries in an aggregate principal amount exceeding $2,500,000. For purposes of determining Material Indebtedness, the “principal
amount” of the obligations of the Borrower or any Subsidiary in respect of any Swap Agreement at any time shall be the Swap Termination Value. 
 “Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to one hundred percent
(100%) of the Fronting Exposure of the Issuing Bank with respect to Letters of Credit issued and outstanding at such time and (ii) with respect to other types of Cash Collateral approved by the Administrative Agent and the Issuing Bank
(and the Borrower to the extent that such Cash Collateral is being provided by a Defaulting Lender), an amount determined by the Administrative Agent and the Issuing Bank in their sole discretion. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto that is a nationally
recognized rating agency. 
 “Mortgaged Property” and “Mortgaged Properties”
means any Property owned by the Borrower or any Guarantor which is subject to the Liens existing and to exist under the terms of the Collateral Documents. 
 “Mortgages” means the mortgages, deeds of trust, leasehold mortgages, assignments of leases and rents, assignments of proceeds of production, security documents and the like
(including all amendments, modifications and supplements thereto) delivered pursuant to this Agreement for the ratable benefit of the Secured Parties. 
 “Multiemployer Plan” means a Plan which is a multiemployer plan as defined in Section 3(37) or 4001 (a)(3) of ERISA. 

“Net Cash Proceeds” means, with respect to a Disposition or issuance of any Indebtedness by any Person, the cash
proceeds received by such Person in connection with such transaction (including any cash received in respect of non-cash proceeds, but only and as when received) after deducting therefrom the aggregate, without duplication, of the following amounts
to the extent properly attributable to such transaction or to any asset that may be the subject thereof: (a) all reasonable and customary legal, investment banking, brokerage, accounting and other transaction fees and expenses incurred in
connection with such Disposition or issuance, (b) all taxes paid or payable by such Person to be payable in cash in connection with such Disposition or issuance, (c) payments made by such Person to retire Indebtedness (other than the
Borrowings and Advances) where payment of such Indebtedness is required in connection with such Disposition or issuance, (d) any amounts required to be deposited into escrow in connection with the closing of such Disposition or issuance (until
any such amounts are released therefrom to such Person) and (e) the amount of any reserve for adjustments in respect of the sale price of such asset or assets established in accordance with GAAP (until any such reserve is reversed). 

“Net Equity Proceeds” means, with respect to the sale or issuance after the Effective Date by PMFG of any of its
Equity Interests, the excess of: (a) the gross cash proceeds received PMFG from such sale or issuance over (b) all reasonable and customary underwriting commissions and legal, investment banking, brokerage and accounting and other
professional fees, sales commissions and disbursements and other transaction expenses (including taxes) actually incurred and paid or payable in connection with such sale or issuance. 

“Net Recovery Proceeds” means, with respect to any Recovery Event or Extraordinary Receipts, the gross cash
proceeds (net of reasonable fees, costs and taxes actually incurred and paid in connection with such Recovery Event or Extraordinary Receipt, any required permanent payment of Indebtedness 

  
 CREDIT AGREEMENT
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(other than Indebtedness secured pursuant to the Collateral Documents) which is secured by the Property that is the subject of such Recovery Event, and any proceeds received in connection with a
Recovery Event which are required to paid to third parties due to indemnity claims (or used to reimburse a Loan Party which advanced such payments) received by the respective Person in connection with such Recovery Event or Extraordinary Receipt.

 “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that
(i) requires the approval of all affected Lenders in accordance with the terms of Section 12.02 and (ii) has been approved by the Required Lenders. 
 “Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time. 
 “Notes” means the collective reference to the Revolving Credit Notes, the Swingline Note, the Term A Loan Notes, and the Amended and Restated Term B Loan Notes.

 “Obligations” means any and all amounts owing or to be owing by the Borrower, any Subsidiary or any
Guarantor or other Loan Party (including without limitation, all debts, liabilities, obligations, covenants and duties of each such Person, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become
due, now existing or hereafter arising), and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate of any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the
debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding: (a) to the Administrative Agent, the Issuing Bank, the Swingline Lender, any Lender or any other Secured Party under any Loan
Document; (b) to any Swap Lender under any Secured Swap Agreement (which shall be deemed to be the Swap Termination Value as of the date the amount of Obligations is being determined), (c) to any Treasury Management Party under any Secured
Treasury Management Agreement, and (d) all renewals, extensions and/or rearrangements of any of the above. 

“OFAC” has the meaning set forth in Section 7.19. 

“Ordinary Business Purpose Letter of Credit” means a Letter of Credit which is issued (i) pursuant to this
Agreement for the account of a Subsidiary that is not a Loan Party, (ii) to a beneficiary that is not an Affiliate of such Subsidiary, and (iii) for business purposes of such Subsidiary which are in the ordinary course of business of such
Subsidiary consistent with past practices. For the avoidance of doubt, the “back to back” Letter of Credit issued on the Effective Date to collateralize that certain letter of credit existing on the Effective Date issued in Euros to
Barclays for the account of Peerless Europe Ltd. shall be deemed an “Ordinary Business Purpose Letter of Credit” for all purposes herein. 
 “Organizational Documents” mean, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive
documents with respect to any non U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership, joint
venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or
organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such entity. 

“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former
connection between such Recipient and the jurisdiction imposing such Tax (other than 

  
 CREDIT AGREEMENT
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connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under,
engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 
 “Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution,
delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an
assignment (other than an assignment made pursuant to Section 5.04(b)). 
 “Participant” has
the meaning set forth in Section 12.04(d). 
 “Participant Register” has the meaning set
forth in Section 12.04(d). 
 “Participating Member State” means each state so described in
any EMU Legislation. 
 “PBGC” means the Pension Benefit Guaranty Corporation, or any successor thereto.

 “Peerless” has the meaning set forth in the introductory paragraph hereto. 

“Permitted Acquisition” means any Acquisition provided that each of the following conditions shall be met:
(a) before and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing; (b) the Borrower would be in compliance (on a Pro Forma Basis after giving effect to such Acquisition and any other
Acquisition, Disposition, debt incurrence, debt retirement) with the covenants contained in Section 9.01 recomputed as of the last day of the most recently ended fiscal quarter of the Borrower for which financial statements are
available; (c) if such Acquisition involves the acquisition of Equity Interests of a Person, such Acquisition shall result in the issuer of such Equity Interests becoming a Guarantor to the extent required by Section 8.13;
(d) such Acquisition shall result in the Administrative Agent, for the benefit of the Secured Parties, being granted a security interest in any Equity Interests or any assets so acquired to the extent required by Section 8.13 and
(e) during the Ex-Im Period, such Acquisition is not prohibited by the Borrower Agreement or is otherwise approved by the Ex-Im Bank in writing. 
 “Permitted Acquisition Consideration” means, in connection with any Permitted Acquisition, the aggregate amount (as valued at the fair market value of such Permitted Acquisition at
the time such Permitted Acquisition is made) of, without duplication: (a) the purchase consideration paid or payable in cash for such Permitted Acquisition, whether payable at or prior to the consummation of such Permitted Acquisition or
deferred for payment at any future time, whether or not any such future payment is subject to the occurrence of any contingency, and including any and all payments representing the purchase price and any assumptions of Indebtedness and/or guaranteed
obligations, “earn outs” and other agreements to make any payment the amount of which is, or the terms of payment of which are, in any respect subject to or contingent upon the revenues, income, cash flow or profits (or the like) of any
Person or business and (b) the aggregate amount of Indebtedness incurred or assumed in connection with such Permitted Acquisition. 
 “Permitted Holder” means all or any one or more of William F. Nicklin, NSB Advisors LLC, Family Members and/or Family Trusts and their respective successors. For purposes of this
definition, “Family Member” means any individual having a relationship by blood (to the second degree of consanguinity), marriage, or adoption to William F. Nicklin and “Family Trusts” means any trusts
or other estate planning vehicles established for the benefit of William F. Nicklin or Family Members and in respect of which William F. Nicklin or Family Members serves as trustee or in a similar capacity. 

  
 CREDIT AGREEMENT
– Page 28 

 “Permitted Investments” means: 

(a) cash; 
 (b)
direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the U.S. (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the U.S.), in each case
maturing within one year from the date of acquisition thereof; 
 (c) investments in commercial paper maturing within two
hundred seventy (270) days from the date of acquisition thereof and having, at such date of acquisition, the highest credit rating obtainable from S&P or from Moody’s; 

(d) investments in certificates of deposit, banker’s acceptances and time deposits maturing within one year from the date of
acquisition thereof issued or guaranteed by or placed with, and money market or other deposit accounts issued or offered by, the Administrative Agent, any Lender or any Affiliate thereof, or any domestic office of any commercial bank organized under
the laws of the U.S. or any State thereof that has a combined capital and surplus and undivided profits of not less than $500,000,000; 
 (e) fully collateralized repurchase agreements with a term of not more than thirty (30) days for securities described in clause (b) above and entered into with a financial institution
satisfying the criteria of clause (d) above; 
 (f) investments in “money market funds” within the meaning
of Rule 2a-7 of the Investment Company Act of 1940, as amended, substantially all of whose assets are invested in investments of the type described in clauses (a) through (e) above; and 

(g) other short-term investments or deposit accounts utilized by Foreign Subsidiaries in accordance with normal investment practices for
cash management in investments of a type analogous to the foregoing. 
 “Person” means any natural
person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any employee pension benefit plan, as defined in Section 3(2) of ERISA, which (a) is currently or hereafter sponsored, maintained or contributed to by the
Borrower, a Subsidiary or an ERISA Affiliate or (b) was at any time during the six calendar years preceding the date hereof, sponsored, maintained or contributed to by the Borrower or a Subsidiary or an ERISA Affiliate. 

“Platform” has the meaning set forth in Section 12.01(c). 

“Pledged Equity interests” has the meaning set forth in the Security Agreement. 

“PMFG” has the meaning set forth in the introductory paragraph hereto. 

“Prime Rate” means a fluctuating rate of interest equal to the highest quoted annual rate of interest which is
published from time to time in the “Money Rates” Section of The Wall Street Journal as 

  
 CREDIT AGREEMENT
– Page 29 

 the prime rate (or, if such source is not available, such alternate source as determined by the
Administrative Agent), as adjusted from time to time in the Administrative Agent’s sole discretion for reserve requirements, deposit insurance assessment rates and other regulatory costs. Any change in the rate will take effect on the effective
date as indicated in The Wall Street Journal. Interest will accrue on any non-Business Day at the rate in effect on the immediately preceding Business Day. 
 “Principal Payment Date” means (a) with respect to the Term A Loans, (i) the last Business Day of March, June, September and December in each calendar
year, commencing with such quarterly date following immediately after the Term A Commitment Termination Date and (ii) the Term A Loan Maturity Date; and (b) with respect to the Term B Loans, (i) the last Business Day of
March, June, September and December in each calendar year, commencing with such quarterly date following immediately after the Term B Commitment Termination Date and (ii) the Term B Loan Maturity Date. 

“Pro Forma Basis” and “Pro Forma Effect” means, for purposes of calculating Consolidated
EBITDA, Consolidated Funded Debt and Consolidated Interest Expense for any period of four consecutive fiscal quarters during which one or more Permitted Acquisition or Disposition occurs or which is the period of four consecutive fiscal quarters
ending immediately prior to the date of determination with respect to a Permitted Acquisition or Disposition occurring on or prior to or simultaneously with the date of determination, that such Permitted Acquisition or Disposition (and all other
Permitted Acquisition or Disposition that have been consummated during the applicable period) shall be deemed to have occurred as of the first day of the applicable period of four consecutive fiscal quarters and all income statement items (whether
positive or negative) attributable to the assets or Person disposed of in a Disposition shall be excluded and all Indebtedness repaid or discharged in connection with such Disposition shall be excluded and all income statement items (whether
positive or negative) attributable to the assets or Person acquired in a Permitted Acquisition and all Indebtedness incurred or assumed in connection with such Permitted Acquisition shall be included. 

“Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or
intangible, including, without limitation, cash, securities, accounts and contract rights. 

“Propulsys” means Peerless Propulsys China Holdings, LLC, a Delaware limited liability company. 

“Protective Advance” means any advances made by the Administrative Agent in accordance with the provisions of
Section 2.10(g) to protect the Denton Property and other collateral securing the Obligations. 
 “Public
Lender” has the meaning assigned to such term in Section 8.02. 
 “Recipient”
means (a) the Administrative Agent, (b) any Lender and (c) the Issuing Bank, as applicable. 

“Recovery Event” means any settlement of or payment in respect of any property insurance or casualty insurance
claim or any condemnation proceeding in or deed in lieu thereof relating to any Collateral. 

“Redemption” means with respect to any Indebtedness, the repurchase, redemption, prepayment, repayment,
defeasance or any other acquisition or retirement for value (or the segregation of funds with respect to any of the foregoing) of such Indebtedness. 
 “Redeem” has the correlative meaning thereto. 

  
 CREDIT AGREEMENT
– Page 30 

 “Register” has the meaning assigned such term in
Section 12.04(c). 
 “Regulation D” means Regulation D of the Board, as the same
may be amended, supplemented or replaced from time to time. 
 “Related Parties” means, with respect to
any specified Person, such Person’s Affiliates and the respective partners, directors, managers, officers, employees, agents, trustees, administrators, representatives and advisors (including attorneys, accountants and experts) of such Person
and of such Person’s Affiliates. 
 “Release Date” means the date on which (a) all of the
Obligations are fully, indefeasibly, absolutely and unconditionally paid and performed (other than (i) contingent indemnification obligations and (ii) any other obligations or liabilities, which by their terms expressly survive the
termination of the Loan Documents), (b) the Commitment of each Lender is terminated, (c) all Letters of Credit have expired, been terminated or secured on terms that are satisfactory to Issuing Bank, and (d) all Secured Swap
Agreements and Secured Treasury Management Agreements have expired, been terminated or secured on terms that are satisfactory to the applicable Swap Lender or Treasury Management Party. 

“Required Lenders” means, at any time, Lenders having Revolving Credit Exposures, outstanding Term Loans and
unused Commitments representing more than sixty-seven percent (67%) of the sum of the total Revolving Credit Exposures, outstanding Term Loans and unused Commitments at such time (without regard to any sale by a Lender of a participation in any
Loan under Section 12.04(d)); provided that the Revolving Credit Exposures, outstanding Term Loans and Commitments of any Defaulting Lender shall be disregarded for purposes of making a determination of Required Lenders. The
“Required Lenders” of a particular Class of Loans means Lenders having Revolving Credit Exposures, outstanding Term A Loans, outstanding Term B Loans and/or unused Commitments of such Class, as applicable,
representing more than sixty-seven percent (67%) of the total Revolving Credit Exposures, outstanding Term A Loans, outstanding Term B Loans and/or unused Commitments of such Class, as applicable, at such time. 

“Requirement of Law” means, as to any Person, the Organizational Documents of such Person, and any Law, in each
case applicable to or binding upon such Person or any of its Property or to which such Person or any of its property is subject. 
 “Responsible Officer” means, as to any Person, the chief executive officer, the president, any Financial Officer or any vice president of such Person. Unless otherwise specified,
all references to a Responsible Officer herein shall mean a Responsible Officer of the Borrower. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all
necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other Property)
with respect to any Equity Interests in the Borrower or any of its Subsidiaries, or any payment (whether in cash, securities or other Property), including any sinking fund or similar deposit, on account of the purchase, Redemption, retirement,
acquisition, cancellation or termination of any such Equity Interests in the Borrower or any of its Subsidiaries or any option, warrant or other right to acquire any such Equity Interests in the Borrower or any of its Subsidiaries. 

“Retainage Percentage” means an amount equal to ten percent (10%). 

  
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 “Revaluation Date” means, with respect to any Letter of Credit
issued in an Approved Currency other than Dollars, each of the following: (i) each date of issuance, extension and renewal of any such Letter of Credit, (ii) each date of an amendment of any such Letter of Credit having the effect of
increasing the amount thereof (solely with respect to the increased amount), (iii) each date of any Revolving Credit Loans or Swing Line Loans, (iv) each date of any payment by an Issuing Bank under any such Letter of Credit, and
(v) such additional dates as the Administrative Agent or the Issuing Bank shall determine or the Required Banks shall require. 
 “Revolving Credit” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans constituting such Borrowing, are made pursuant to
Section 2.01(a). 
 “Revolving Credit Availability Period” means the period from and
including the Effective Date to but excluding the Revolving Credit Maturity Date. 
 “Revolving Credit
Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make Revolving Credit Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder, expressed as an amount representing
the maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to the Agreement and (b) reduced or increased from time to time pursuant
to assignments by or to such Lender pursuant to Section 12.04. The initial amount of each Lender’s Revolving Credit Commitment is set forth on Annex I under the caption “Revolving Credit Commitment,” or in the
Assignment and Assumption or other instrument pursuant to which such Lender shall have assumed its Revolving Credit Commitment, as applicable. The initial aggregate amount of the Revolving Credit Commitment is $30,000,000. 

“Revolving Credit Exposure” means, with respect to any Revolving Credit Lender at any time, the sum of
(a) the outstanding principal amount of such Lender’s Revolving Credit Loans, (b) the LC Exposure of such Lender, and (c) the Swingline Exposure of such Lender at such time. 

“Revolving Credit Facility” means the Revolving Credit Commitments created on the Effective Date. 

“Revolving Credit Lender” means a Lender with a Revolving Credit Commitment, or if the Revolving Credit
Commitments have terminated or expired, a Lender with Revolving Credit Exposure. 
 “Revolving Credit
Loans” means the Loans made by the Revolving Credit Lenders to the Borrower pursuant to this Agreement. 

“Revolving Credit Maturity Date” means with respect to Revolving Credit Loans the earlier of
(a) September 30, 2015, and (b) the date of termination of the Revolving Credit Commitments. 

“Revolving Credit Note” means a promissory note substantially in the form of Exhibit A. 

“Risk Adjusted LC Exposure” means, at any time, the sum of (a) thirty percent (30%) of the aggregate
undrawn amount of all outstanding Warranty Letters of Credit at such time (provided however, that such thirty percent (30%) threshold may be adjusted upward by the Administrative Agent once per fiscal year if, based on the audited annual
financial statements delivered pursuant to Section 8.01(a), the aggregate warranty expense of the Borrower and its Consolidated Subsidiaries is greater than three percent (3%) of the total revenue of such Persons as reflected in
such financial statements), plus (b) one hundred percent (100%) of the aggregate undrawn amount of all outstanding Letters of Credit that are not Warranty Letters of Credit at such time, plus (c) one hundred percent (100%) of the
Dollar Equivalent of 

  
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 the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the
Borrower at such time or discharged and replaced by an ABR Revolving Credit Loan or a Swingline Loan pursuant to Section 2.09(e). For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such
Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason
of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 
 “Risk Adjusted Revolving Credit Exposure” means the sum of (a) the total aggregate outstanding principal amount of Revolving Credit Loans, (b) the total Risk Adjusted LC
Exposure, and (c) the total Swingline Exposure of all Lenders at such time. 
 “S&P” means
Standard & Poor’s Ratings Group, a division of The McGraw-Hill Companies, Inc., and any successor thereto that is a nationally recognized rating agency. 
 “SEC” means the Securities and Exchange Commission or any successor Governmental Authority. 
 “Secured Parties” means the Administrative Agent, each Lender, each Swap Lender and each Treasury Management Party. 

“Secured Swap Agreement” means any Swap Agreement between the Borrower or any Subsidiary and any Swap Lender.

 “Secured Treasury Management Agreement” means any Treasury Management Agreement that is entered into
by and between the Borrower or any Subsidiary and any Treasury Management Party. 
 “Security
Agreements” means one or more security agreements in form and substance satisfactory to the Administrative Agent pursuant to which a security interest in assets of the Borrower or a Subsidiary, including a pledge of Equity Interests by
the Borrower or such Subsidiary, is granted to the Administrative Agent for the ratable benefit of the Secured Parties to secure the payment of the Obligations, including the reimbursement of obligations under the Letters of Credit, as such
agreements may be amended, modified or supplemented from time to time. 
 “Special Account” means,
collectively and individually, one or more deposit accounts (other than the Advance Account) that the Borrower establishes with the Administrative Agent pursuant to the terms of the Loan Documents, each of which shall be used solely for the purpose
or purposes stated in the Loan Documents for the respective account. 
 “Spot Rate” for a currency means
the rate determined by the Issuing Bank or the Administrative Agent, as appropriate, to be the rate quoted by the Person acting in such capacity as the spot rate for the purchase by such Person of such currency with Dollars through its principal
foreign exchange trading office at approximately 11:00 a.m. two (2) Business Days prior to the date as of which the foreign exchange computation is made; provided that the Issuing Bank or the Administrative Agent may obtain such
spot rate from another financial institution designated by the Issuing Bank or Administrative Agent if the Person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency; and provided
further that the Issuing Bank may use such spot rate quoted on the date as of which the foreign exchange computation is made in the case of any Letter of Credit denominated in an Approved Currency other than Dollars. 

  
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 “Statutory Reserve Rate” means a fraction (expressed as a decimal),
the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established
by the Board to which the Administrative Agent is subject, with respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentages
shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that
may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.

 “Sterling” means the lawful currency of the United Kingdom. 

“Subordinated Debt” means unsecured Funded Debt of any Loan Party and the other obligations under the applicable
Subordinated Debt Documents which have been subordinated in right of payment and priority to the Obligations, all on terms and conditions satisfactory to the Administrative Agent. 

“Subordinated Debt Documents” means any document evidencing any Subordinated Debt acceptable to the
Administrative Agent, as the same may be amended, modified, supplemented or otherwise modified from time. 

“Subsidiary” means: (a) any Person of which at least a majority of the outstanding Equity Interests having
by the terms thereof ordinary voting power to elect a majority of the board of directors, board of managers or other governing body of such Person (irrespective of whether or not at the time Equity Interests of any other class or classes of such
Person shall have or might have voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by the Borrower or one or more of its Subsidiaries or by the Borrower and one or more of its
Subsidiaries and (b) any partnership of which the Borrower or any of its Subsidiaries is a general partner. Unless otherwise indicated herein, each reference to the term “Subsidiary” shall mean a Subsidiary of the Borrower.

 “Swap Agreement” means (a) any and all rate swap transactions, basis swaps, credit derivative
transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, forward sale of production, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or
forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions,
currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master
agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives
Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or
liabilities under any Master Agreement. 
 “Swap Lender” means any Person that is a counterparty to a
Swap Agreement with the Borrower or any Subsidiary, that is a Lender or an Affiliate of a Lender or was a Lender or an Affiliate of a Lender at the time such Swap Agreement was entered into. 

  
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 “Swap Termination Value” means, in respect of any one or more Swap
Agreements, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Agreements, (a) for any date on or after the date such Swap Agreements have been closed out and termination value(s) determined
in accordance therewith, such termination value(s) and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Agreements, as determined by the
counterparties to such Swap Agreements. 
 “Swingline” when used in reference to any Loan or Borrowing,
refers to whether such Loan, or the Loans constituting such Borrowing, are made pursuant to Section 2.04. 

“Swingline Exposure” means, at any time, the aggregate principal amount of all Swingline Loans outstanding at
such time. The Swingline Exposure of any Lender at any time shall be its Applicable Percentage of the total Swingline Exposure at such time. 
 “Swingline Lender” means Citibank or any other Revolving Credit Lender that becomes the Administrative Agent or agrees, with the approval of the Administrative Agent and the
Borrower, to act as the Swingline Lender hereunder, in each case in its capacity as the Swingline Lender hereunder. 

“Swingline Loan” means a Loan made pursuant Section 2.04. 

“Swingline Note” means the promissory note substantially in the form of Exhibit B. 

“TARGET Day” means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer
(TARGET) payment system (or, if such payment system ceases to be operative, such other payment system (if any) determined by the Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro. 

“Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, withholdings (including
backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 
 “Term” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans constituting such Borrowing, are made pursuant to Section 2.01(b) or
(c). 
 “Term A” when used in reference to any Loan or Borrowing, refers to whether such
Loan, or the Loans constituting such Borrowing, are made pursuant to Section 2.01(b). 
 “Term A
Commitment Termination Date” means the date that is the earliest of (a) eighteen (18) calendar months after the Effective Date, (b) if the Term A Loans have been funded in the full amount of the Term A Loan
Commitment, the date the Term A Loans are prepaid in full, and (c) the date the Term A Loan Commitments are terminated. 
 “Term A Loan Commitment” means, with respect to each Term A Loan Lender, the commitment, if any, of such Lender to make a Term A Loan hereunder in the amount of such
Lender’s Term A Loan Commitment as set forth on Annex I under the caption “Term A Loan Commitment.” The aggregate amount of the Lenders’ Term A Loan Commitments is $2,000,000 as of the Effective Date.

 “Term A Loan Lender” means a Lender with a Term A Loan Commitment or, following the
Term A Commitment Termination Date, an outstanding Term A Loan. 
 “Term A Loan Maturity
Date” means with respect to Term A Loans, September 30, 2019. 

  
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 “Term A Loan Note” means a promissory note substantially in the
form of Exhibit C. 
 “Term B” when used in reference to any Loan or Borrowing, refers
to whether such Loan, or the Loans constituting such Borrowing, are made pursuant to Section 2.01(c). 

“Term B Commitment Termination Date” means the date that is the earliest of (a) eighteen
(18) calendar months after the Effective Date, (b) if the Term B Loans have been funded in the full amount of the Term B Loan Commitment, the date the Term B Loans are prepaid in full, and (c) the date the Term B
Loan Commitments are terminated. 
 “Term B Loan Commitment” means, with respect to each
Term B Loan Lender, the commitment, if any, of such Lender to make a Term B Loan hereunder in the amount of such Lender’s Term B Loan Commitment as set forth on Annex I under the caption “Term B Loan
Commitment.” The aggregate amount of the Lenders’ Term B Loan Commitments is $10,000,000 as of the Effective Date. 
 “Term B Loan Lender” means a Lender with a Term B Loan Commitment or, following the Term B Commitment Termination Date, an outstanding Term B Loan. 

“Term B Loan Maturity Date” means with respect to Term B Loans, September 30, 2022. 

“Term Loan Maturity Date” means the Term A Loan Maturity Date or the Term B Loan Maturity Date, as
applicable. 
 “Title Company” means First American Title Insurance Company and/or Republic Title of
Texas, Inc. as the context requires. 
 “Title Insurance” means one or more Mortgagee or Loan Policies
of Title Insurance, as the Administrative Agent may require, issued by the Title Company, not issued on a coinsurance basis unless approved by the Administrative Agent in the Administrative Agent’s good faith reasonable discretion, in the
amount of the Term A and Term B Loans plus any other insurable amount secured by the applicable Mortgage, insuring that the applicable Mortgage constitutes a valid, first priority lien covering the Land, the Improvements, and any other
improvements on the Land, subject only to those exceptions which the Administrative Agent may approve, and containing such affirmative coverages and endorsements as the Administrative Agent may reasonably require. 

“Transactions” means, with respect to (a) the Borrower, the execution, delivery and performance by the
Borrower of this Agreement, and each other Loan Document to which it is a party, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder, and the grant of Liens by the Borrower on Mortgaged Properties
and other Properties pursuant to the Collateral Documents and (b) each other Loan Party, the execution, delivery and performance by such Loan Party of each Loan Document to which it is a party, the guaranteeing of the Obligations and the other
obligations under the Guaranty Agreement by such Guarantor and such Loan Party’s grant of the security interests and provision of collateral under the Collateral Documents, and the grant of Liens by such Loan Party on Mortgaged Properties and
other Properties pursuant to the Collateral Documents. 
 “Treasury Management Agreement” means any
agreement to provide cash management services, including treasury, depositing, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements. 

  
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 “Treasury Management Party” means any Person that is a Lender or an
Affiliate of a Lender, in its capacity as a party to such Treasury Management Agreement or was a Lender or an Affiliate of a Lender at the time such Treasury Management Agreement was entered into. 

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

“UCC” means the Uniform Commercial Code as in effect from time to time (except as otherwise specified) in any
applicable state or jurisdiction. 
 “Unused Fee Rate” has the meaning set forth in the definition of
“Applicable Margin”. 
 “U.S.” means the United States of America, including any
division or agency thereof and any United States Territory. 
 “U.S. Borrower” means any Borrower that
is a U.S. Person. 
 “U.S. Person” means any Person that is a “United States Person” as
defined in Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate” has the meaning
assigned to such term in Section 5.03(g). 
 “Warranty Letter of Credit” means a Letter of
Credit that may only be drawn upon to satisfy contractual warranty claims of beneficiaries against the Borrower and its Subsidiaries. 
 “Wholly-Owned Subsidiary” means (a) any Subsidiary of which all of the outstanding Equity Interests, on a fully-diluted basis, are owned by the Borrower and/or one or more of
its Wholly-Owned Subsidiaries or (b) if permitted by this Agreement, any Subsidiary that is organized in a foreign jurisdiction and is required by the applicable Laws and regulations of such foreign jurisdiction to be partially owned by the
government of such foreign jurisdiction or individual or corporate citizens of such foreign jurisdiction, provided that the Borrower, directly or indirectly, owns the remaining Equity Interests in such Subsidiary and, by contract or
otherwise, controls the management and business of such Subsidiary and derives economic benefits of ownership of such Subsidiary to substantially the same extent as if such Subsidiary were a Wholly-Owned Subsidiary. 

“Withholding Agent” means any Loan Party and the Administrative Agent, as applicable. 

Section 1.03 Types and Class of Loans and Borrowings. For purposes of this Agreement, Loans and Borrowings, respectively, may be
classified and referred to by Type (e.g., a “Eurodollar Loan” or a “Eurodollar Borrowing”) and by Class (e.g., a “Term A Loan” or a “Term A
Borrowing”). 
 Section 1.04 Terms Generally; Rules of Construction. The definitions of terms herein shall
apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise
(a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject
to any restrictions on such amendments, supplements or modifications set forth in the Loan Documents), (b) any reference herein to any Law or 

  
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 regulation shall be construed as referring to such Law or regulation as amended, modified, codified,
supplemented or reenacted, in whole or in part, and in effect from time to time, (c) any reference herein to any Person shall be construed to include such Person’s successors and assigns (subject to the restrictions contained in the Loan
Documents), (d) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (e) in the
computation of periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word
“through” means “to and including”, (f) any reference herein to Articles, Sections, Annexes, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Annexes, Exhibits and Schedules to, this
Agreement, and (g) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including, cash, securities, accounts and
contract rights. References in this Agreement and the other Loan Documents to “reasonable”, “reasonably” and words of similar import when applied to any request or demand which the Lender is permitted to make hereunder or under
any other Loan Document or as applied to a determination of the reasonableness of the amount or the incurrence of any expense shall be interpreted and construed from the perspective of a lender in a senior credit facility where such lender is
regulated by various governmental agencies, seeks a high level of assurance regarding the operations, collateral position, condition (financial or otherwise) and Properties of the Borrower and other Persons guaranteeing or otherwise connected to
such facility and seeks a high level of assurance and advice regarding its rights and duties under the Loan Documents, and the Borrower and any other Person guaranteeing or otherwise connected to such facility shall comply with such request or
demand or accept such determination unless the Borrower or such other Person proves that such request, demand or determination is or was unreasonable. 
 For purposes of Section 10.01, a breach of a financial covenant contained in Section 9.01 shall be deemed to have occurred as of any date of determination thereof by the
Administrative Agent or as of the last date of any specified measuring period, regardless of when the financial statements or the Compliance Certificate reflecting such breach are delivered to the Administrative Agent and the Lenders. 

Section 1.05 Accounting Terms and Determinations; GAAP. 

(a) Generally. All accounting terms not specifically or completely defined herein shall be construed in conformity
with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time,
applied in a manner consistent with that used in preparing the financial statements, except as otherwise specifically prescribed herein. 
 (b) Changes in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required
Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the
Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent and the
Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change
in GAAP. 

  
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 (c) Rounding. Any financial ratios required to be maintained by the
Borrower and its Subsidiaries pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and
rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
 Section 1.06
Letters of Credit. 
 (a) Amounts. Unless otherwise specified herein, the amount of a Letter of
Credit at any time shall be deemed to be the Dollar Equivalent of the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any document
related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the Dollar Equivalent of the maximum stated amount of such Letter of Credit, as applicable, after
giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 
 (b)
Draws. The amount of any draw on a Letter of Credit shall be deemed to be calculated on a Dollar Equivalent basis. 

Section 1.07 Joint Preparation; Construction of Indemnities and Releases. This Agreement and the other Loan Documents have been
reviewed and negotiated by sophisticated parties with access to legal counsel, and no rule of construction shall apply hereto or thereto which would require or allow any Loan Document to be construed against any party because of its role in drafting
such Loan Document. All indemnification and release of liability provisions of this Agreement shall be construed broadly (and not narrowly) in favor of the Persons receiving indemnification or releases of liability. 

Section 1.08 Determination of Time. Unless otherwise specified, all references herein to times of day shall be references to
Central time (daylight or standard, as applicable). 
 Section 1.09 Change of Currency. Each provision of this Agreement
shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify to be appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to
the change in currency. 
 ARTICLE II 
 The Credits 
 Section 2.01 Commitments. 

(a) Revolving Credit Loans. Subject to the terms and conditions and relying upon the representations and warranties
herein set forth, each Revolving Credit Lender severally agrees to make Revolving Credit Loans to the Borrower from time to time during the Revolving Credit Availability Period in an aggregate principal amount that will not exceed at any time
outstanding the amount of such Revolving Credit Lender’s Revolving Credit Commitment; provided however that after giving effect to any Revolving Credit Borrowing: (i) such Revolving Credit Lender’s Revolving Credit Exposure
shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment; (ii) the total Revolving Credit Exposure shall not exceed the total Revolving Credit Commitments; and (iii) the total Risk Adjusted Revolving Credit Exposure
shall not exceed the Borrowing Base. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, repay and reborrow the Revolving Credit Loans. 

  
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 (b) Term A Loans. Subject to the terms and conditions set forth
herein and relying upon the representations and warranties herein set forth, each Term A Loan Lender agrees, severally and not jointly, to make Term A Loans to the Borrower in an aggregate principal amount equal to its Term A Loan
Commitment. Notwithstanding anything in the Loan Documents to the contrary, the aggregate amount of Term A Loan proceeds which the Term A Loan Lenders shall be obligated to disburse, and for which the Borrower shall be entitled to request,
shall not exceed the Term A Loan Commitment. Amounts prepaid or repaid in respect of Term A Loans may not be reborrowed. The Term A Loan Lenders’ commitment to lend shall terminate automatically upon the Term A Commitment
Termination Date. Upon and after the Term A Commitment Termination Date, the Term A Loan Lenders shall not be obligated to make any Term A Loans, and the Borrower shall not be entitled to request any Term A Borrowings. Subject to
Section 2.03(a), a Term A Loan shall be in the amount of seventy-five percent (75%) of the sum of (i) the invoiced amount of any new equipment purchased by the Borrower to be used at the Denton Property and (ii) the
appraised value of existing equipment to be used at the Denton Property and financed hereunder. To the extent that Term A Loan proceeds are insufficient to pay all costs required for such equipment, the Borrower shall pay such excess costs with
funds derived from sources other than the Loans. 
 (c) Term B Loans. Subject to the terms and
conditions set forth herein and relying upon the representations and warranties herein set forth, each Term B Loan Lender agrees, severally and not jointly, to make Term B Loans to the Borrower in an aggregate principal amount equal to its
Term B Loan Commitment. Notwithstanding anything in the Loan Documents to the contrary, the aggregate amount of Term B Loan proceeds which the Term B Loan Lenders shall be obligated to disburse, and for which the Borrower shall be
entitled to request, shall not exceed the Term B Loan Commitment. Amounts prepaid or repaid in respect of Term B Loans may not be reborrowed. The Term B Loan Lenders’ commitment to lend shall terminate automatically upon the
Term B Commitment Termination Date. Upon and after the Term B Commitment Termination Date, the Term B Loan Lenders shall not be obligated to make, and the Borrower shall not be entitled to request, any further Advances. To the extent
that Term B Loan proceeds are insufficient to pay all costs required for the development, construction and completion of the Denton Property, and all other costs associated with the Denton Property, the Borrower shall pay such excess costs with
funds derived from sources other than the Loans. 
 Section 2.02 Loans, Borrowings and Advances. 

(a) Borrowings; Several Obligations. Each Loan shall be made as part of a Borrowing consisting of Loans of the same
Class and Type made by the Lenders ratably in accordance with their respective Commitments of the applicable Class. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder;
provided that the Commitments are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 
 (b) Types of Loans. Subject to Section 3.03, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each
Swingline Loan shall be an ABR Loan. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect
the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 

  
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 (c) Minimum Amounts; Limitation on Number of Borrowings. At the
commencement of each Interest Period for any Eurodollar Borrowng, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $500,000. At the time that each ABR Borrowing is made, such Borrowing (other
than an ABR Borrowing for a Term Loan) shall be in an aggregate amount that is an integral multiple of $50,000 and not less than $250,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance
of the total Revolving Credit Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.09(e). Each Swingline Loan shall be in an amount that is a multiple of $25,000 and not less
than $100,000. Borrowings of more than one Type may be outstanding at the same time, provided that there shall not at any time be more than a total of five (5) Eurodollar Borrowings outstanding, and provided further that Borrower
shall not submit more than one (1) Borrowing Request for Term A Loans per month. 
 (d) Limitations
on Interest Periods. Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request (or to elect to convert to or continue as a Eurodollar Borrowing) (i) any Revolving Credit Eurodollar Borrowing if the
Interest Period requested therefore would end after the Revolving Credit Maturity Date; (ii) any Term Eurodollar Borrowing if the Interest Period requested therefore would end after the applicable Term Loan Maturity Date; or (iii) any Term
Eurodollar Borrowing if the Interest Period requested therefor would commence before and end after any Principal Payment Date unless, after giving effect thereto, the aggregate principal amount of the Term Loans having Interest Periods that end
after such Principal Payment Date shall be equal to or less than the aggregate principal amount of the Term Loans permitted to be outstanding after giving effect to the payments of principal required to be made on such Principal Payment Date.

 (e) Notes. Any Lender may request that Loans made by it be evidenced by a promissory note of the
Borrower (provided, however, that Term B Loans shall be evidenced by a promissory note regardless of request). In such event, the Borrower, at its own expense, shall prepare, execute and deliver to such Lender a promissory note(s) payable to
such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and substantially in the form of Exhibits A, B, C or D, as appropriate, and such note(s) shall be evidence of such Loans (and
all amounts payable in respect thereof). Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 12.04) be represented by one or more promissory
notes in such form payable to the payee named therein (or if requested by such payees, to such payee and its registered assigns). 
 Section 2.03 Requests for Borrowings. 
 (a) Revolving
Credit Borrowings and Term A Borrowings. To request a Revolving Credit Borrowing (other than a Swingline Borrowing) or a Term A Borrowing, the Borrower shall notify the Administrative Agent of such request (i) in the case of a
Eurodollar Borrowing, not later than 11:00 a.m., three (3) Business Days before the date of the proposed Borrowing or (ii) in the case of an ABR Borrowing, not later than 11:00 a.m., on the date of the proposed Borrowing;
provided that no such notice shall be required for any deemed request of an ABR Borrowing to finance the reimbursement of an LC Disbursement as provided in Section 2.09(e). Each Borrowing Request shall be irrevocable, shall be
substantially in the form of Exhibit E and signed by the Borrower, and shall be effective only if delivered in writing by hand delivery or sent by facsimile to the Administrative Agent. Each such written Borrowing Request shall specify
the following information in compliance with Section 2.02: 
 (i) Whether the requested Borrowing is
to be Revolving Credit Borrowing or Term A Borrowing; 

  
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 (ii) the aggregate amount of the requested Borrowing, which in the case of a
Term A Borrowing shall be in accordance with Section 2.02(b); 
 (iii) the date of such
Borrowing, which shall be a Business Day; 
 (iv) whether such Borrowing is to be an ABR Borrowing or a
Eurodollar Borrowing; 
 (v) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable
thereto, which shall be a period contemplated by the definition of the term “Interest Period” and permitted under Section 2.02; 
 (vi) in the case of a Revolving Credit Borrowing, the amount of the then effective Borrowing Base, the current total Revolving Credit Exposures (without regard to the requested Borrowing), the current
total Risk Adjusted Revolving Credit Exposures (without regard to the requested Borrowing), the pro forma total Revolving Credit Exposures (giving effect to the requested Borrowing), and the pro forma total Risk Adjusted Revolving Credit Exposures
(giving effect to the requested Borrowing); and 
 (vii) the location and number of the Borrower’s account
to which funds are to be disbursed, which shall comply with the requirements of Section 2.06. 
 Each Term A
Borrowing shall be accompanied by the applicable invoice for the new equipment purchased by the Borrower or an appraisal of the existing equipment to be financed. 

(b) Term B Borrowing. To request a Term B Borrowing, the Borrower shall notify the Administrative Agent
of such request in writing not later than 11:00 a.m. five (5) Business Days before the date of the proposed Borrowing and submit a Draw Request. Each Draw Request must include the information and documentation required in this Agreement,
along with the lien waivers and releases, information, certifications, approvals, instruments, and documents required hereby as a condition to the requested Advance (except the down date endorsement to the Title Insurance must be received by the
Administrative Agent prior to the date that the requested Advance is actually made); provided, that if such information and documentation is not delivered prior to or concurrently with such Draw Request, such Draw Request shall be deemed
invalid and not made. In each Draw Request, the Borrower must (i) specify the amount of such Draw Request that applies to each Allocation, and (ii) identify all funds being used to pay any portion of the costs reflected in the Draw Request
other than the funds being requested to be advanced, and identify the sources and respective amounts from each source of such other funds. A Draw Request must state the date the Advance is requested, which shall be at least five (5) Business
Days after Administrative Agent receives the Draw Request. All Draw Requests shall account for the retainage and other withholdings required pursuant to Section 2.10(f). Without limiting any of the other provisions in this Agreement, the
Administrative Agent shall not be required to approve any Draw Request or make an Advance if (A) any cost requested in the Draw Request is not set forth in the Budget, (B) the requested amount, when added to all prior Advances and any
applicable retention requirements for such line item, would exceed the lesser of (x) the actual cost incurred by the Borrower for such item, or (y) the sum allocated in the Budget for such line item, or (C) an amount is requested
directly from a contingency line item. Except as otherwise set forth in this Agreement, all Advances will be made by direct deposit into the Advance Account. 

  
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 (c) Notice by the Administrative Agent to the Lenders. Promptly
following receipt of a Borrowing Request or a Draw Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of
the requested Borrowing. 
 (d) Failure to Elect. If no election as to the Type of Borrowing is specified,
then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Each
Borrowing Request shall constitute a representation that the amount of the requested Borrowing shall not cause an Event of Default. 
 Section 2.04 Swingline Loans. 
 (a) Agreement to Make
Swingline Loans. Subject to the terms and conditions set forth herein and relying upon the representations and warranties herein set forth, the Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the
Revolving Credit Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $3,000,000 or (ii) the total Revolving
Credit Exposures exceeding the total Revolving Credit Commitments; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the
terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans. 
 (b)
Notice of Swingline Loans by Borrower. To request a Swingline Loan, the Borrower shall notify the Administrative Agent of such request in writing, not later than 11:00 a.m. on the day of a proposed Swingline Loan. Each such notice shall
be irrevocable and shall specify the requested date (which shall be a Business Day) and amount of the requested Swingline Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice received from the Borrower. The
Swingline Lender shall make each Swingline Loan available to the Borrower by means of a credit to an account of the Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as
provided in Section 2.09(e), by remittance to the Issuing Bank) by 3:00 p.m. on the requested date of such Swingline Loan. 
 (c) Participations by Lenders in Swingline Loans. The Swingline Lender may by written notice given to the Administrative Agent not later than 10:00 a.m. on any Business Day require the
Revolving Credit Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Revolving Credit Lenders will participate.
Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Credit Lender, specifying in such notice such Revolving Credit Lender’s Applicable Percentage of such Swingline Loan or Loans. Each
Revolving Credit Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such Revolving Credit Lender’s Applicable Percentage of
such Swingline Loan or Loans. Each Revolving Credit Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph in compliance with the terms and conditions of this Agreement is absolute
and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Revolving Credit Commitments, and that each such payment shall be made without any
offset, abatement, withholding or reduction whatsoever. Each Revolving Credit Lender shall comply with its obligation under this Section 2.04(c) by wire 

  
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transfer of immediately available funds, in the same manner as provided in Section 2.06 with respect to Loans made by such Revolving Credit Lender (and Section 2.06 shall
apply, mutatis mutandis, to the payment obligations of the Revolving Credit Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from the Revolving Credit Lenders. The Administrative
Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this Section 2.04(c), and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the
Swingline Lender. Any amounts received by the Swingline Lender from the Borrower (or other party on behalf of the Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale of participations therein
shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Credit Lenders that shall have made their payments pursuant to this
paragraph and to the Swingline Lender, as their interests may appear; provided that any such payment so remitted shall be repaid to the Swingline Lender or to the Administrative Agent, as applicable, if and to the extent such payment is
required to be refunded to the Borrower for any reason. The purchase of participations in a Swingline Loan pursuant to this Section 2.04(c) shall not relieve the Borrower of any default in the payment thereof. 

(d) Repayment. If the maturity date shall have occurred in respect of any Revolving Credit Facility at a time when
another Revolving Credit Facility is in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Swingline Loans shall be repaid in full on such date (and there shall be no adjustment to the
participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any
reallocation of Letter of Credit participations as contemplated in Section 2.09(d)), there shall exist sufficient unutilized Revolving Credit Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the
Revolving Credit Commitments that will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall be deemed to have been incurred
solely pursuant to the relevant Revolving Credit Commitments that will remain in effect, and such Swingline Loans shall not be so required to be repaid in full on such earliest maturity date. 

Section 2.05 Interest Elections. 
 (a) Conversion and Continuance. Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request or Draw Request and, in the case of a Eurodollar Borrowing, shall have an
initial Interest Period as specified in such Borrowing Request or Draw Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect
Interest Periods therefor, all as provided in this Section 2.05. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the
Lenders holding the Loans of the respective Class comprising such Borrowing, and the Loans of such Class comprising each such portion shall be considered a separate Borrowing. This Section 2.05 shall not apply to Swingline Borrowings,
which may not be converted or continued and which shall accrue interest based only at the Alternate Base Rate. 

(b) Interest Election Requests. To make an election pursuant to this Section 2.05, the Borrower shall
notify the Administrative Agent of such election in writing by the time that a Borrowing Request or Draw Request would be required under Section 2.03 if the Borrower were 

  
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requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such Interest Election Request shall be irrevocable, shall be in
substantially the form of Exhibit G and signed by the Borrower, and shall be delivered by hand delivery or sent by facsimile to the Administrative Agent. 

(c) Information in Interest Election Requests. Each written Interest Election Request shall specify the following
information in compliance with Section 2.02: 
 (i) the Borrowing to which such Interest Election
Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to
Section 2.05(c)(iii) and (iv) shall be specified for each resulting Borrowing); 
 (ii)
the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the
term “Interest Period”. 
 If any such Interest Election Request requests a Eurodollar Borrowing but does not specify
an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. If such Interest Election Request does not specify a Type, then the Borrower shall be deemed to have selected a Type of ABR
Borrowing. 
 (d) Notice to Lenders by the Administrative Agent. Promptly following receipt of an Interest
Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 
 (e) Effect of Failure to Deliver Timely Interest Election Request and Events of Default and Borrowing Base Deficiencies on Interest Election. If the Borrower fails to deliver a timely Interest
Election Request with respect to a Eurodollar Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to an
ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of Default or a Borrowing Base Deficiency, has occurred and is continuing: (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing (and
any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective) and (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR
Borrowing at the end of the Interest Period applicable thereto. 
 Section 2.06 Funding of Borrowings. 

(a) Funding by Lenders. Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by
wire transfer of immediately available funds by 3:00 p.m., to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders; provided that Swingline Loans shall be made as provided in

  
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Section 2.04 and participation in Protective Advances shall be made as provided in Section 2.10(g). The Administrative Agent will make such Loans available to the Borrower
by promptly crediting the amounts so received, in like funds, to (i) an account of the Borrower maintained with the Administrative Agent and designated by the Borrower in the applicable Borrowing Request or (ii) with respect to Term B
Loans, the Advance Account or otherwise pursuant to Section 2.10; provided that ABR Revolving Credit Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.09(e) shall be remitted by the
Administrative Agent) to the Issuing Bank, and provided that Term B Loans shall be remitted pursuant to Section 2.03(b). Nothing herein shall be deemed to obligate any Lender to obtain the funds for its Loan in any particular
place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for its Loan in any particular place or manner. 
 (b) Presumption of Funding by the Lenders. Unless the Administrative Agent shall have received notice from a Lender (x) in the case of ABR Loans, prior to 12:00 noon on the date of the
proposed Borrowing and (y) otherwise, prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such
Lender has made such share available on such date in accordance with Section 2.06(a) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its
share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day
from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of a payment to be made by such Lender, the greater of the Federal Funds Effective
Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation and (ii) in the case of a payment to be made by the Borrower, the interest rate applicable to ABR Loans. If the Borrower
and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender
pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may
have against a Lender that shall have failed to make such payment to the Administrative Agent. 
 Section 2.07 Termination
and Reduction of the Commitments. 
 (a) Scheduled Termination. Unless previously terminated,
(i) the Term A Loan Commitments shall terminate at 5:00 p.m. on the Term A Commitment Termination Date, (ii) the Term B Loan Commitment shall terminate at 5:00 p.m. on the Term B Commitment Termination Date
and (iii) the Revolving Credit Commitments shall terminate on the Revolving Credit Maturity Date. 
 (b)
Voluntary Termination or Reduction. The Borrower may at any time terminate in its entirety the Revolving Credit Commitments, the Term A Loan Commitments and/or the Term B Loan Commitments, or from time to time reduce any portion of
the Revolving Credit Commitments; provided that (i) each reduction of the Revolving Credit Commitment pursuant to this Section 2.07(b) shall be in an amount that is $1,000,000 or a larger multiple of $1,000,000 and
(ii) the Borrower shall not terminate or reduce the Revolving Credit Commitments to the extent that after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04, the total Revolving Credit Exposures
would exceed the total Revolving Credit 

  
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Commitments or the total Risk Adjusted Revolving Credit Exposures would exceed the Borrowing Base. The Borrower shall notify the Administrative Agent of any election to terminate or reduce any
Commitments pursuant to this Section 2.07(b) at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any
notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.07(b) shall be irrevocable; provided that a notice of such termination may state
that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not
satisfied. Any termination or reduction of any Commitments pursuant to this Section 2.07(b) shall be permanent. 

Section 2.08 Increase in Commitments. 
 (a) Borrower Request. The Borrower may by written notice to the Administrative Agent elect to request prior to the Revolving Credit Maturity Date, one or more increases to the existing Revolving
Credit Commitments (each, an “Incremental Revolving Commitment”) by an amount not in excess of the aggregate sum of $10,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective
Date”) on which the Borrower proposes that the Incremental Revolving Commitment shall be effective, which shall be a Business Day not less than ten (10) Business Days after the date on which such notice is delivered to the
Administrative Agent and (ii) the identity of each assignee permitted by Section 12.04(b) to whom the Borrower proposes any portion of such Incremental Revolving Commitments be allocated and the amounts of such allocations;
provided that any existing Lender approached to provide all or a portion of the Incremental Revolving Commitments may elect or decline, in its sole discretion, to provide such Incremental Revolving Commitment. 

(b) Conditions. The Incremental Revolving Commitments shall become effective as of such Increase Effective Date;
provided that: 
 (i) no Default or Event of Default shall have occurred and be continuing or would result
from the borrowings (assuming that such Incremental Revolving Commitments are fully drawn) to be made on the Increase Effective Date and the use of proceeds thereof; 

(ii) the Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by the
Administrative Agent in connection with any such transaction; and 
 (iii) the conditions set forth in
Section 6.03(c) shall be satisfied. 
 (c) Terms of Incremental Revolving Commitments. The
terms and provisions of the Incremental Revolving Commitments and Loans made pursuant thereto shall be as follows: 
 (i) the Revolving Credit Loans made pursuant to Incremental Revolving Commitments (“Incremental Revolving Loans”) will rank pari passu in right of payment and security with
the Loans; and 
 (ii) the terms and provisions of Revolving Credit Loans made pursuant to Incremental Revolving
Commitments shall be identical to the Revolving Credit Loans. 

  
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 The Incremental Revolving Commitments shall be effected by a joinder agreement (the “Increase
Joinder”) executed by the Borrower, the Administrative Agent and each Lender making such Incremental Revolving Commitment, in form and substance reasonably satisfactory to each of them. The Increase Joinder may, without the consent of
any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.08. In addition, unless
otherwise specifically provided herein, all references in the Loan Documents to Revolving Credit Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Credit Loans made pursuant to new Commitments made
pursuant to this Agreement. 
 (d) Adjustment of Revolving Credit Loans. On the Increase Effective Date,
each Revolving Credit Lender that is acquiring a new or additional Revolving Credit Commitment shall make a Revolving Credit Loan, the proceeds of which will be used to prepay the Revolving Credit Loans of the other Revolving Credit Lenders
immediately prior to such Increase Effective Date, so that, after giving effect thereto, the Revolving Credit Loans outstanding are held by the Revolving Credit Lenders pro rata based on their Revolving Credit Commitments after giving effect to such
Increase Effective Date. If there is a new borrowing of Revolving Credit Loans on such Increase Effective Date, the Revolving Credit Lenders after giving effect to such Increase Effective Date shall make such Revolving Credit Loans in accordance
with Section 2.01(a). 
 (e) Equal and Ratable Benefit. The Loans and Commitments established
pursuant to this Section 2.08 shall constitute Loans and Commitments under, and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting the foregoing, benefit equally
and ratably from the Guaranty Agreement and security interests created by the Collateral Documents. The Loan Parties shall take any actions reasonably required by the Administrative Agent to ensure and/or demonstrate that the Lien and security
interests granted by the Collateral Documents continue to be perfected under the UCC or otherwise after giving effect to the establishment of any such new Commitments. 
 Section 2.09 Letters of Credit. 
 (a) General.
Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Letters of Credit denominated in an Approved Currency for its own account or for the account of any of its Subsidiaries as permitted pursuant to
Section 9.05(e)(iii), in a form acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time during the Revolving Credit Availability Period; provided that (i) the Borrower may not request
the issuance, amendment, renewal or extension of Letters of Credit hereunder if after giving effect thereto (A) a Borrowing Base Deficiency would exist, (B) any Revolving Credit Lender’s Revolving Credit Exposure would exceed such
Revolving Credit Lender’s Revolving Credit Commitment, (C) the total Revolving Credit Exposure would exceed the total Revolving Credit Commitments, (D) the total Risk Adjusted Revolving Credit Exposure would exceed the Borrowing Base,
or (E) the LC Exposure would exceed the LC Commitment, and (ii) the minimum face amount of any such Letter of Credit shall be the Dollar Equivalent of $10,000. In the event of any inconsistency between the terms and conditions of this
Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of
this Agreement shall control. 
 (b) Notice of Issuance, Amendment, Renewal, Extension; Certain
Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or send by facsimile (or transmit by

  
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electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (not less than three (3) Business Days in
advance of the requested date of issuance, amendment, renewal or extension) a notice: 
 (i) requesting the
issuance of a Letter of Credit or identifying the Letter of Credit to be amended, renewed or extended; 
 (ii)
specifying whether such requested Letter of Credit is a Warranty Letter of Credit or a non-Warranty Letter of Credit; 
 (iii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day); 
 (iv) specifying the date on which such Letter of Credit is to expire (which shall comply with Section 2.09(c)); 

(v) specifying the amount of such Letter of Credit, and which Approved Currency shall be the denomination of such Letter
of Credit (it being understood that if no denomination is specified, the Letter of Credit shall be Dollar-denominated); 
 (vi) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and 

(vii) specifying the amount of the then effective Borrowing Base and whether a Borrowing Base Deficiency exists at such
time, the current total Revolving Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit), the current total Risk Adjusted Revolving Credit Exposure
(without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit), the pro forma total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested
amendment, renewal or extension of an outstanding Letter of Credit), and the pro forma total Risk Adjusted Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding
Letter of Credit). 
 Each notice shall constitute a representation that after giving effect to the requested issuance,
amendment, renewal or extension, as applicable, (i) the LC Exposure shall not exceed the LC Commitment, (ii) the total Revolving Credit Exposures shall not exceed the total Commitments, and (iii) the total Risk Adjusted Revolving
Credit Exposures shall not exceed the Borrowing Base. If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit.

 Notwithstanding anything to the contrary contained herein, no Issuing Bank shall be obligated to issue a Letter of Credit in
the event that, as of the requested issuance date, (A) such Issuing Bank does not issue letters of credit in the requested currency, (B) the issuance of such Letter of Credit in such requested currency would violate one or more policies of
such Issuing Bank applicable to letters of credit generally, (C) any requirement of law applicable to such Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over
such Issuing Bank shall (1) prohibit, or request that such Issuing Bank 

  
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refrain from, the issuance of letters of credit in the requested currency, (2) impose upon such Issuing Bank with respect to letters of credit issued in the requested currency any
restriction or reserve or capital requirement (for which such Issuing Bank is not otherwise compensated) not in effect on the date of this Agreement, or (3) shall result in any unreimbursed loss, cost or expense that was not applicable, in
effect, or known to such Issuing Bank as of the date of this Agreement and that such Issuing Bank in good faith deems material to it, or (D) any Lender is at that time a Defaulting Lender, unless the Issuing Bank has entered into arrangements,
including the delivery of Cash Collateral, satisfactory to the Issuing Bank, with the Borrower or such Defaulting Lender to eliminate the Issuing Bank’s Fronting Exposure (after giving effect to Section 2.12(a)(iv)) with respect to
the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other LC Exposure as to which the Issuing Bank has Fronting Exposure. No Issuing Bank shall be obligated to amend any Letter
of Credit if the Issuing Bank would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof. 
 Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the Issuing Bank will also deliver to the
Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. Upon the Effective Date, provided that all conditions set forth in Section 6.01 have been satisfied (or will be satisfied upon
the issuance of the “back to back” Letter of Credit) or waived, the Issuing Bank shall issue a Letter of Credit as a “back to back” Letter of Credit to fully collateralize any existing letters of credit issued under the Existing
Credit Agreement and outstanding as of the Effective Date. 
 (c) Expiration Date. Each Letter of Credit
shall expire at or prior to the close of business on the earlier of (i) the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension)
and (ii) the date that is five (5) Business Days prior to the Revolving Credit Maturity Date; provided, however, that a Letter of Credit may, upon the request of the Borrower, include a provision whereby such Letter of Credit shall
be renewed automatically for additional consecutive periods of twelve (12) months or less (but not beyond the date that is five Business Days prior to the Revolving Credit Maturity Date) unless the Issuing Bank notifies the beneficiary thereof
at least thirty (30) days (or such longer period as may be specified in such Letter of Credit) prior to the then-applicable expiration date that such Letter of Credit will not be renewed. 

(d) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the
amount thereof) and without any further action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the
Administrative Agent, for the account of the Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by the Issuing Bank and not reimbursed by the Borrower on the date due as provided in Section 2.09(e), or of
any reimbursement payment required to be refunded to the Borrower for any reason. Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this Section 2.09(d) in respect of Letters of Credit is
absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or an Event of Default, the existence of a
Borrowing Base Deficiency or reduction or termination of the Revolving Credit Commitments, 

  
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and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. For the avoidance of doubt, the obligation of each Lender to acquire participations
and reimburse LC Disbursements pursuant to this Section 2.09(d) shall be absolute regardless of whether such Lender’s participation or Applicable Percentage of any LC Disbursement exceeds, by reason of fluctuations of foreign
currency exchange rate or otherwise, such Lender’s Revolving Credit Commitment. 
 (e) Reimbursement.
If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit denominated in an Approved Currency, the Borrower shall reimburse such LC Disbursement by paying to the Administrative Agent in such Approved Currency (except as
specified below) an amount equal to such LC Disbursement not later than 12:00 noon, on the date that such LC Disbursement is made, if the Borrower shall have received notice of such LC Disbursement prior to 10:00 a.m., on such date, or, if such
notice has not been received by the Borrower prior to such time on such date, then not later than 12:00 noon, on (i) the Business Day that the Borrower receives such notice, if such notice is received prior to 10:00 a.m., on the day of
receipt, or (ii) the Business Day immediately following the day that the Borrower receives such notice, if such notice is not received prior to such time on the day of receipt; provided that if such LC Disbursement is not less than
$1,000,000, the Borrower shall, subject to the conditions to Borrowing set forth herein, be deemed to have requested, and the Borrower does hereby request under such circumstances, that such payment be financed with an ABR Revolving Credit Borrowing
or a Swingline Loan in an amount equal to the Dollar Equivalent of the amount of the LC Disbursement, as determined by the Issuing Bank promptly following determination thereof and, to the extent so financed, the Borrower’s obligation to make
such payment shall be discharged and replaced by the resulting ABR Revolving Credit Borrowing or Swingline Loan. Notwithstanding the foregoing, the Issuing Bank may, at its option, specify in the applicable notice of LC Disbursement that the Issuing
Bank will require reimbursements in Dollars; provided that the Issuing Bank shall notify the Borrower of the Dollar Equivalent of the amount of the drawing promptly following the determination thereof. If the Borrower fails to make such
payment when due, the Administrative Agent shall notify each Revolving Credit Lender of the applicable LC Disbursement (expressed in Dollars in the amount of the Dollar Equivalent of such LC Disbursement), the payment then due from the Borrower in
respect thereof and such Revolving Credit Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Revolving Credit Lender shall pay to the Administrative Agent in Dollars its Applicable Percentage of the payment
then due from the Borrower, in the same manner as provided in Section 2.06 with respect to Revolving Credit Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the
Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank in Dollars the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this
Section 2.09(e), the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Lenders have made payments pursuant to this Section 2.09(e) to reimburse the Issuing Bank, then to such
Lenders and the Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this Section 2.09(e) to reimburse the Issuing Bank for any LC Disbursement (other than the funding of ABR Revolving Credit Loans as
contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement. 
 (f) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in Section 2.09(e) shall be absolute, unconditional and irrevocable, and shall be
performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit, any Letter of Credit Agreement or this
Agreement, or any term or provision 

  
 CREDIT AGREEMENT
– Page 51 

 
therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in
any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit or any Letter of Credit Agreement, (iv) any adverse
change in the relevant exchange rates or in the availability of the relevant Approved Currency to the Borrower or in the relevant currency markets generally, or (v) any other event or circumstance whatsoever, whether or not similar to any of
the foregoing, that might, but for the provisions of this Section 2.09(f), constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder. Neither the Administrative Agent,
the Lenders nor the Issuing Bank, nor any of their Related Parties shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment
thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter
of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be
construed to excuse the Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable Law)
suffered by the Borrower that are caused by the Issuing Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree
that, in the absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised all requisite care in each such
determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit,
the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon
such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 
 (g)
Disbursement Procedures. The Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative
Agent and the Borrower in writing by facsimile of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the
Borrower of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement. 
 (h) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, until the Borrower shall have reimbursed the Issuing Bank for such LC Disbursement (either with its own funds or a
Borrowing under Section 2.09(e)), the Dollar Equivalent of the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such
LC Disbursement, at the rate per annum then applicable to ABR Loans. Interest accrued pursuant to this Section 2.09(h) shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any
Lender pursuant to Section 2.09(e) to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment. 

  
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– Page 52 

 (i) Replacement of the Issuing Bank. The Issuing Bank may be replaced
at any time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of the Issuing Bank. At the time any
such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 3.05(b). From and after the effective date of any such replacement, (i) the
successor Issuing Bank shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed
to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of the Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto
and shall continue to have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. 

(j) Cash Collateral – Default. If (i) any Event of Default shall occur and be continuing and the Borrower
receives notice from the Administrative Agent or the Required Lenders demanding the deposit of cash collateral pursuant to this Section 2.09(j), or (ii) the Borrower is required to pay to the Administrative Agent the excess
attributable to an LC Exposure in connection with any prepayment pursuant to Section 3.04(b), then the Borrower shall deposit, in an account with the Administrative Agent (the “LC Collection Account”), in the name
of the Administrative Agent and for the benefit of the Secured Parties, an amount in cash equal to, in the case of an Event of Default, the LC Exposure, and in the case of a payment required by Section 3.04(b), the amount of such excess
as provided in Section 3.04(b), as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become
immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower or any Subsidiary described in Section 10.01(h) or Section 10.01(i). The
Borrower hereby grants to the Administrative Agent, for the benefit of the Issuing Bank and the other Secured Parties, an exclusive first priority and continuing perfected security interest in and Lien on the LC Collection Account and all cash,
checks, drafts, certificates and instruments, if any, from time to time deposited or held in the LC Collection Account, all deposits or wire transfers made thereto, any and all investments purchased with funds deposited in such account, all
interest, dividends, cash, instruments, financial assets and other Property from time to time received, receivable or otherwise payable in respect of, or in exchange for, any or all of the foregoing, and all proceeds, products, accessions, rents,
profits, income and benefits therefrom, and any substitutions and replacements therefor. The Borrower’s obligation to deposit amounts pursuant to this Section 2.09(j) shall be absolute and unconditional, without regard to whether
any beneficiary of any such Letter of Credit has attempted to draw down all or a portion of such amount under the terms of a Letter of Credit, and, to the fullest extent permitted by applicable Law, shall not be subject to any defense or be affected
by a right of set-off, counterclaim or recoupment which the Borrower or any of its Subsidiaries may now or hereafter have against any such beneficiary, the Issuing Bank, the Administrative Agent, the Lenders or any other Person for any reason
whatsoever. Such deposit shall be held as collateral securing the payment and performance of the Borrower’s and the other Loan Parties’ obligations under this Agreement and the other Loan Documents. The Administrative Agent shall have
exclusive dominion and control, including the exclusive right of withdrawal, over the LC Collection Account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the
Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in the LC Collection Account. Moneys in the LC Collection Account shall be
applied 

  
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– Page 53 

 
by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the
reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Revolving Credit Loans has been accelerated, be applied to satisfy other obligations of the Borrower and the other Loan Parties under this
Agreement or the other Loan Documents. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent
the excess attributable to an LC Exposure in connection with any prepayment pursuant to Section 3.04(b), then such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days
after all Events of Default have been cured or waived. If the Borrower is required to provide an amount in cash collateral hereunder as a result of any prepayment pursuant to Section 3.04(b) and the Borrower is not otherwise required to
pay to the Administrative Agent an amount equal to the LC Exposure as a result of the occurrence of an Event of Default, then if the total Risk Adjusted Revolving Credit Exposure is reduced (whether pursuant to Section 3.04(a), the expiration
of Letters of Credit or otherwise) and a Borrowing Base Deficiency no longer exists and so long as no Default has occurred and is continuing, the Administrative Agent shall return to the Borrower such amount but only to the extent that the then
effective Borrowing Base exceeds the total Revolving Credit Exposures by not less than $1,000,000. 
 (k) Cash
Collateral – Defaulting Lender. At any time that there shall exist a Defaulting Lender, within one Business Day following the written request of the Administrative Agent or the Issuing Bank (with a copy to the Administrative Agent), the
Borrower shall Cash Collateralize the Issuing Bank’s Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to Section 2.12(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an
amount not less than the Minimum Collateral Amount. 
 (i) Grant of Security Interest. The Borrower, and
to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to the Administrative Agent, for the benefit of the Issuing Bank, and agrees to maintain, a first priority security interest in all such Cash Collateral as
security for the Defaulting Lender’s obligation to fund participations in respect of LC Exposure, to be applied pursuant to Section 2.09(k)(ii). If at any time the Administrative Agent determines that Cash Collateral is subject to
any right or claim of any Person other than the Administrative Agent and the Issuing Bank as herein provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the Borrower will, promptly upon demand by the
Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender). 

(ii) Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided
under this Section 2.09(k) or Section 2.11 in respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund participations in respect of LC Exposure (including, as to
Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be provided for herein. 

(iii) Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce the
Issuing Bank’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.09(k) following (A) the 

  
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– Page 54 

 
elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the Administrative Agent and
the Issuing Bank that there exists excess Cash Collateral; provided that, subject to Section 2.12, the Person providing Cash Collateral and the Issuing Bank may agree that Cash Collateral shall be held to support future
anticipated Fronting Exposure or other obligations and provided further that to the extent that such Cash Collateral was provided by the Borrower, such cash collateral shall remain subject to the security interest granted pursuant to the Loan
Documents. 
 (l) Exchange Rates; Currency Equivalents. The Issuing Bank or the Administrative Agent shall
determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent amounts with respect to the issuance, amendment, extension or increase of any Letter of Credit and the LC Exposure denominated in Approved Currencies
other than Dollars. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. The applicable amount
of any currency for purposes of any calculation involving the Letters of Credit shall be such Dollar Equivalent amount as so determined by the Issuing Bank or the Administrative Agent, as appropriate. Wherever in this Agreement in connection with
the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Letter of Credit is denominated in an Approved Currency other than Dollars, such amount shall be
the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the nearest unit of such currency, with 0.5 of a unit being rounded upward), as determined by the Administrative Agent or the Issuing Bank, as the case may be.

 (m) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or
outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the Issuing Bank hereunder for any and all drawings under such Letter of Credit. The Borrower hereby
acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. 

(n) Letter of Credit Reports. 

(i) Each Issuing Bank shall furnish to the Administrative Agent on the fifth Business Day of each calendar quarter a
written report (A) summarizing issuance and expiration dates of Letters of Credit issued by such Issuing Bank during the preceding calendar quarter and drawings during such calendar quarter under all Letters of Credit issued by such Issuing
Bank and (B) setting forth the average daily aggregate undrawn amount during the preceding calendar quarter of all Letters of Credit issued by such Issuing Bank. The Administrative Agent shall promptly deliver such report to the Lenders and the
Borrower by the means provided for delivery of Communications pursuant to Section 12.01. 
 (ii) Each
Issuing Bank with one or more outstanding Letters of Credit issued in an Alternative Currency shall furnish to the Administrative Agent on the fifth Business Day of each calendar month a written report setting forth the undrawn amount of each such
Letter of Credit outstanding as of such date (calculated using the Spot Rates determined as of such date). 

  
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 Section 2.10 Term B Loan and Advances. 

(a) Advances. All Advances are subject to the conditions and requirements contained in this Agreement. Advances
shall be made only once each Draw Period. Advances will be made only for actual costs incurred in accordance with the Budget and other provisions hereof. Except as otherwise provided in this Agreement, all Advances will be deposited in the Advance
Account; provided that if not all of the conditions to an Advance have been satisfied, or if an Event of Default exists, but the Administrative Agent elects to make such Advance, then the Administrative Agent shall have the unconditional
right, exercisable in the Administrative Agent’s sole discretion, to make such Advance, in whole or in part, to one or more of (i) directly to the Borrower by depositing same in the Advance Account, (ii) directly to the Contractor,
Design Professional, or other third party owed, and/or (iii) jointly to the Borrower and any one or more of the Contractor, Design Professional, or other third party owed. The Borrower will hold the Advances in the Advance Account (until
payment to the proper payee) as a trust fund for the purpose of paying the cost of construction of the Improvements and related nonconstruction costs contained in the Draw Request pursuant to which such Advance was made. The Borrower will apply the
same promptly to the payment of the costs and expenses for which each Advance is made and will not use any part thereof for any other purpose. 
 (b) Allocations. The purposes for which the Term B Loan proceeds are allocated and the respective amounts of such Allocations are set forth in the Budget. Term B Loan proceeds shall be
disbursed only for the purposes set forth in the Budget and only until the Term B Commitment Termination Date. The Administrative Agent shall not be obligated to make an Advance from an Allocation set forth in the Budget to the extent that the
amount of the Advance for such Allocation would, when added to all prior Advances for such Allocation, exceed the total of such Allocation as set forth in the Budget. The Administrative Agent shall not be obligated to make an Advance from an
allocation for “Contingency” as set forth in the Budget; all Term B Loan proceeds provided in a “Contingency” Allocation in the Budget must be reallocated pursuant to Section 2.10(c) as a condition to the Advance
of such proceeds. 
 (c) Reallocations. Any cost overruns for any Allocation shall be satisfied out of
funds contained within the Contingency Account. Except as herein provided, the Borrower shall not be entitled to require that the Administrative Agent reallocate Term B Loan proceeds from any Allocation to any other Allocations. The Borrower
may request the Administrative Agent to make a reallocation of the Term B Loan proceeds among one or more currently existing or the Administrative Agent approved new Allocations (including any “Contingency” Allocation) in the Budget;
provided, however, any such reallocation of the “Contingency” Allocation shall be in the Administrative Agent’s reasonable discretion and reallocation of any other Budget line items shall be in Administrative Agent’s sole
and absolute discretion. The Administrative Agent shall not unreasonably withhold its consent for a requested Reallocation from a “Contingency” to another Allocation. To the extent the amount of the Term B Loan proceeds actually
needed and disbursed for any Allocation is less than the amount of the Allocation, and the use of those Term B Loan proceeds are not otherwise reallocated as herein provided, then such unused Term B Loan proceeds shall not be available for
Advances. If any Term B Loan proceeds are reallocated at the request of the Borrower and in accordance with this Section 2.10(c), then the Budget shall be deemed amended in accordance with such reallocation. The Administrative Agent
reserves the right, at its option, to disburse, while an Event of Default exists, Term B Loan proceeds allocated to any of the Allocations for such other purposes or in such different proportions as the Administrative Agent may, in its sole
discretion, deem necessary or advisable. 

  
 CREDIT AGREEMENT
– Page 56 

 (d) Limitation on Advances. The Administrative Agent may withhold
from an Advance or, on account of subsequently discovered evidence, withhold from a later Advance or require the Borrower to repay to the Administrative Agent the whole or any part of any earlier Advance, to the extent necessary to protect the
Administrative Agent or the Lenders from loss on account of (i) obligations of Borrower to be performed pursuant to the Loan Documents on or before the subject date that have not been performed; (ii) defective work not remedied,
(iii) Liens filed or reasonable evidence indicating probable filing of Liens, (iv) the failure of the Borrower to make payments to the Contractor or subcontractors for material or labor, or (v) after fifteen (15) days notice
thereof from the Administrative Agent, a reasonable doubt by the Administrative Agent that the construction of the Improvements can be completed for the sum of (A) the balance of the Term B Loan Commitments then undisbursed, (B) the
balance of any undisbursed Borrower’s Deposits, and (C) the balance of any other deposits made by the Borrower into a Special Account with the Administrative Agent for any of the foregoing purposes. When all such grounds are cured, the
Borrower may request the Advance of any amount so withheld because of the foregoing. 
 (e) Borrower’s
Deposit. If at any time and from time to time the Administrative Agent shall in its reasonable discretion deem that the undisbursed proceeds of the Term B Loan Commitments, plus the then balance of the Advance Account and any Special
Account to be applied to construction costs of the Improvements, are insufficient to meet the costs of completing construction of the Improvements (including all unpaid nonconstruction costs, costs for work and materials completed or provided but
not paid for, and all costs of work and materials not completed or provided), plus the costs of insurance, ad valorem taxes, and other normal costs related to the Denton Property, plus any other unpaid costs contained in the Budget, the
Administrative Agent may, after fifteen (15) days written notice to the Borrower, refuse to make any additional Advances to the Borrower hereunder until the Borrower shall have deposited with the Administrative Agent in the Advance Account or a
Special Account, as the Administrative Agent may require, sufficient additional funds as a Borrower’s Deposit to cover the deficiency which the Administrative Agent deems to exist. Such Borrower’s Deposit will be disbursed by the
Administrative Agent to the Borrower pursuant to the terms and conditions hereof as if they constituted a portion of the Term B Loan proceeds, prior to the Advance of any Term B Loan proceeds. The Borrower agrees to establish such Special
Account (if applicable) and make the Borrower’s Deposit into the Advance Account or Special Account, as applicable, within fifteen (15) days after written demand by the Administrative Agent. Unless required by Governmental Requirements,
the Administrative Agent shall not be required to pay interest on the Borrower’s Deposit. 

  
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– Page 57 

 (f) Retainage. An amount equal to the Retainage Percentage of all
hard costs of construction under the Construction Contract and any and all subcontracts entered into by a Contractor for which an Advance has been made, plus the amount of any claims asserted by any laborers or materialmen against any portion of the
Denton Property pursuant to stop notices, Lien claims or similar demands or notices received by the Administrative Agent (which have not been bonded against or otherwise secured in accordance with the applicable provisions of the applicable
Mortgage), shall not be disbursed by the Administrative Agent on behalf of the Lenders. Such retainage shall be disbursed by the Administrative Agent on behalf of the Lenders to the Borrower, excluding the amount of any such unbonded or unsecured
Lien claims, plus potential costs and interest related thereto (which funds will be disbursed only as such claims are resolved satisfactorily bonded around in addition to the satisfaction of the following conditions), when all of the following have
occurred to the satisfaction of the Administrative Agent: 
 (i) The Administrative Agent has received the
Certificate of Substantial Completion executed by the Borrower and the appropriate Design Professional, and approved by the Inspector, stating that the Improvements have been completed in accordance with the Construction Plans. 

(ii) The Administrative Agent shall have received such other evidence as the Administrative Agent may require that no
mechanics’ or materialmen’s Liens or other encumbrances have been filed and remain in effect against the Denton Property, and the time periods for the filing of any stop notice or Lien claim with respect to the construction of the
Improvements shall have elapsed without the filing or providing of any such stop notice or Lien claim. The Design Professional, Contractor, and all subcontractors and material suppliers who performed or provided work or materials related to the
Improvements have been paid in full, subject to the release of the retainage as provided in the last paragraph of this Section 2.10(f). 
 (iii) Each applicable Governmental Authority shall have duly inspected and approved the Improvements and the occupancy of same and issued the appropriate permit, license or certificate of occupancy, to
evidence such approval. 
 (iv) All conditions to an Advance contained in Article VI are satisfied.

 (v) Thirty (30) days shall have elapsed from the later of (i) the date of the completion of the
Improvements, as specified in Texas Property Code §53.106, if such Affidavit of Completion is filed within ten (10) days after such date of completion, or (ii) the date of filing of such Affidavit of Completion if such Affidavit of
Completion is filed ten (10) days or more after the date of the completion of the Improvements as specified in Texas Property Code §53.106. 
 Notwithstanding the previous provisions of this Section 2.10(f) to the contrary, the Administrative Agent on behalf of the Lenders hereby agree to release separately the amount of retainage
not disbursed with respect to each subcontractor providing services or materials for the construction of the Improvements, but only after (A) all other conditions to an Advance are satisfied, (B) the Inspector approves the separate release
of such amount, and (C) such subcontractor and the General Contractor execute an affidavit, Lien waiver, and release in form and substance reasonably acceptable to the Administrative Agent, for the benefit of the Borrower, Administrative Agent
and the Lenders stating (x) that the subcontractor has completed all of its services relating to the construction of the Improvements and has been paid in full for such services, and (y) that the subcontractor waives and releases any
mechanic’s and materialmen’s or other Liens it may have against the Improvements and the Denton Property. 

  
 CREDIT AGREEMENT
– Page 58 

 (g) Protective Advances. The Administrative Agent may make, and shall
be reimbursed by the Lenders (in accordance with their Applicable Percentage) to the extent not reimbursed by the Borrower for, Protective Advances during any one calendar year with respect to the Denton Property or any other related Collateral for
the Obligations up to the sum of (i) amounts expended to pay real estate taxes, assessments and governmental charges or levies imposed upon the Denton Property or other related Collateral; (ii) amounts expended to pay insurance premiums
for policies of insurance related to the Denton Property or other related Collateral; and (iii) $500,000 per annum. Protective Advances in excess of said sum during any calendar year for the Denton Property or any other related Collateral for
the Obligations shall require the consent of the Required Lenders. The Borrower agrees to pay on demand all Protective Advances. Upon the making of a Protective Advance by the Administrative Agent (whether before or after the occurrence of a Default
or an Event of Default), each Lender shall be deemed, without further action by any party hereto, unconditionally and irrevocably to have purchased from the Administrative Agent, without recourse or warranty, an undivided interest and participation
in such Protective Advance in proportion to its Applicable Percentage. From and after the date, if any, on which any Lender is required to fund its participation in any Protective Advance purchased hereunder, the Administrative Agent shall promptly
distribute to such Lender such Lender’s Applicable Percentage of all payments of principal and interest and all proceeds of Collateral received by the Administrative Agent in respect of such Protective Advance. Each Lender shall comply with its
obligation under this Section 2.10(g) by wire transfer of immediately available funds, in the same manner as provided in Section 2.06 with respect to Loans made by Revolving Credit Lenders (and Section 2.06(b)
shall apply, mutatis mutandis, to the payment obligation of such Lenders). 
 (h) Advance not an
Approval. The making of any Advance shall not be deemed an approval or acceptance by the Administrative Agent or any Lender of any work, materials, or other matters related to the construction of the Improvements, the Denton Property, or any
actions taken in connection therewith. 
 (i) Advance not a Waiver. The Administrative Agent may make an
Advance of all or any portion of a Draw Request notwithstanding the fact that one or more of the conditions required by Section 6.02 and Section 6.04 hereof have not been satisfied, have not occurred, or do not exist, but
such action by the Administrative Agent shall not be deemed to be a waiver of the requirement that any such condition be satisfied, have occurred, and/or exist as a condition precedent to any future Advance by the Administrative Agent pursuant to
this Agreement or any of the other Loan Documents. If the Administrative Agent makes an Advance before fulfillment of one or more conditions to such Advance, the Administrative Agent may require fulfillment of such conditions before making any
subsequent Advance. No Advance shall constitute a waiver of any breach of any provision of this Agreement or of any Event of Default, nor of any default or event of default under any of the other Loan Documents, nor shall any Advance have the effect
of precluding the Administrative Agent from pursuing the Administrative Agent’s rights or remedies with respect to any such breach, Event of Default, or other Default. 
 Section 2.11 Collateral. 
 (a) Mortgaged Property.
The payment and performance of the Notes and all of the other Obligations hereunder and under the Loan Documents and under the Secured Swap Agreements and under Treasury Management Agreements with Treasury Management Parties,

  
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and the reimbursement obligations under the Letters of Credit, shall be secured by a first and superior Lien against the entire interest of the Borrower and each other Loan Party in substantially
all of their real Properties, including the Denton Property, pursuant to the terms of one or more Mortgages in favor of the Administrative Agent for the ratable benefit of the Secured Parties, which Mortgages shall be reasonably satisfactory in form
and substance to the Administrative Agent. 
 (b) Guarantees and Pledges of Equity Interests. The payment
and performance of the Notes and all of the other Obligations hereunder and under the Loan Documents, and under the Secured Swap Agreements, Secured Treasury Management Agreements and the reimbursement obligations under the Letters of Credit,
(i) shall be unconditionally guaranteed by each Domestic Subsidiary (except for Propulsys for so long as Propulsys is not a Wholly-Owned Subsidiary) pursuant to one or more Guaranty Agreements, and (ii) shall be secured by a first priority
Lien (A) against all of the Equity Interests of each Domestic Wholly-Owned Subsidiary, (B) against all of the Equity Interests of each non-Wholly-Owned Domestic Subsidiary that are directly owned by a Loan Party, and (C) against all
of the Equity Interests of each Foreign Subsidiary that are directly owned by a Loan Party, each pursuant to a Security Agreement; provided, however, that, notwithstanding the foregoing, Liens shall not be required on Equity Interests
of any Foreign Subsidiary (or any Domestic Subsidiary that is a disregarded entity for U.S. federal income tax purposes and owns Equity Interests of a Foreign Subsidiary) in excess of approximately (but in no event greater than) sixty-five percent
(65%) of the issued and outstanding Equity Interests of such Foreign Subsidiary (or such disregarded Domestic Subsidiary) entitled to vote. Reference is made to Section 8.13 of this Agreement for further provisions with respect to
additional Guarantors and additional collateral. 
 (c) Personal Property of Borrowers and Subsidiaries.
The payment and performance of the Notes and all of the other Obligations hereunder and under the Loan Documents and under Swap Agreements with Swap Lenders and under Treasury Management Agreements with Treasury Management Parties, and the
reimbursement obligations under the Letters of Credit, shall also be secured by a first priority Lien (subject during the Ex-Im Period to the first priority Liens of the Ex-Im Lender as described in the Intercreditor Agreement) against all personal
Property (including the Advance Account and any Special Account, but subject to the limitations on the pledge of Equity Interests set forth in clause (b) of this Section) of the Borrower and each other Loan Party pursuant to the terms of
one or more Security Agreements in favor of the Administrative Agent for the ratable benefit of the Secured Parties which shall be in form and substance reasonably satisfactory to the Administrative Agent. 

(d) Collateral Assignment of Construction Contract, Design Services Contract, and Construction Plans. The payment
and performance of the Notes and all of the other Obligations hereunder and under the Loan Documents and under Swap Agreements with Swap Lenders and under Treasury Management Agreements with Treasury Management Parties, and the reimbursement
obligations under the Letters of Credit, shall also be secured by a collateral assignment to the Administrative Agent for the ratable benefit of the Secured Parties of all of the Borrower’s rights and interests, but not its obligations, in,
under, and to each Construction Contract, each construction contract with a Major Subcontractor, Design Services Contract, and the Construction Plans upon the following terms and conditions: 

(i) the Administrative Agent may use each Construction Contract, each construction contract with a Major Subcontractor,
Design Services Contract, and the Construction Plans for any purpose relating to the Improvements, including inspections, construction, and the completion of the Improvements; 

  
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 (ii) the Administrative Agent shall have no liability or obligation in
connection with, and neither the assignment nor any action taken by the Administrative Agent shall constitute an approval or an assumption by the Administrative Agent of any liability or obligation under, any Construction Contract, any Major
Subcontractor contract, Design Services Contract, or the Construction Plans; provided that the Administrative Agent has no responsibility for the adequacy of the Construction Plans or for the construction of the Improvements, and the Borrower
shall continue to be liable for all obligations of the Borrower under the Construction Contract, any Major Subcontractor contract, the Design Services Contract, and the Construction Plans; 

(iii) the Borrower shall not cancel or amend any Construction Contract, any Major Subcontractor contract, or Design
Services Contract or do or suffer to be done any act which would impair the security constituted by the collateral assignment without the prior written consent of the Administrative Agent, which consent shall not be unreasonably withheld,
conditioned or delayed; and 
 (iv) such other terms and conditions reasonably acceptable to the Administrative
Agent. 
 Section 2.12 Defaulting Lenders. 

(a) Defaulting Lender Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any
Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law: 
 (i) Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the
definition of Required Lenders. 
 (ii) Defaulting Lender Waterfall. Any payment of principal, interest,
fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article X or otherwise) or received by the Administrative Agent from a Defaulting
Lender pursuant to Section 12.08 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts (including any amounts with respect to Protective Advances)
owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Bank or Swingline Lender hereunder; third, to Cash
Collateralize the Issuing Bank’s Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.09(k); fourth, as the Borrower may request (so long as no Default exists), to the funding of any Loan or
any Advance in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to
be held in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans and Advances under this Agreement and (y) Cash Collateralize the Issuing
Bank’s future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.09(k); sixth, to the payment of any amounts owing to
the Lenders, the Issuing Bank or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the Issuing Bank or Swingline Lender against such Defaulting Lender as a result

  
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of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default exists, to the payment of any amounts owing to the Borrower as a result of
any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as
otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or LC Disbursements in respect of which such Defaulting Lender has not fully funded its
appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in or required by Section 6.03 and Section 6.04 (to the extent applicable) were
satisfied or waived, such payment shall be applied solely to pay the Loans of, and LC Disbursements owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or LC Disbursements owed to, such
Defaulting Lender until such time as all Loans and funded and unfunded participations in LC Exposure and Swingline Loans are held by the Lenders pro rata in accordance with the Commitments under the applicable facility without giving effect to
Section 2.12(a)(iv). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this
Section 2.12(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 
 (iii) Certain Fees. 
 (A) No Defaulting Lender shall be
entitled to receive any unused fee under Section 3.05(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid
to that Defaulting Lender). 
 (B) Each Defaulting Lender shall be entitled to receive fees under
Section 3.05(b) for any period during which that Lender is a Defaulting Lender only to the extent allocable to its Applicable Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to
Section 2.09(b). 
 (C) With respect to any fee not required to be paid to any Defaulting Lender
pursuant to clause (A) or (B) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s
participation in LC Exposure or Swingline Loans that has been reallocated to such Non-Defaulting Lender pursuant to Section 2.12(a)(iv), (y) pay to the Issuing Bank and Swingline Lender, as applicable, the amount of any such fee
otherwise payable to such Defaulting Lender to the extent allocable to such Issuing Bank’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

(iv) Reallocation of Participations to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s
participation in LC Exposure and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the
extent that (x) the conditions set forth in Section 6.03 are satisfied at the time of such reallocation (and, unless the Borrower shall have otherwise 

  
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notified the Administrative Agent at such time, the Borrower shall be deemed to have represented and warranted that such conditions are satisfied at such time), and (y) such reallocation
does not cause the aggregate Revolving Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Credit Commitment as in effect at the time of such reallocation. No reallocation hereunder shall constitute a
waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased
exposure following such reallocation. 
 (v) Cash Collateral, Repayment of Swingline Loans. If the
reallocation described in Section 2.12(a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under Law, (x) first, prepay Swingline Loans
in an amount equal to the Swingline Lender’s Fronting Exposure and (y) second, Cash Collateralize the Issuing Bank’s Fronting Exposure in accordance with the procedures set forth in Section 2.09(k). 

(vi) Reallocation of Participations of Protective Advances. All or any part of such Defaulting Lender’s
participation in Protective Advances shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages (calculated without regard to such Defaulting Lender’s Commitment). No reallocation hereunder
shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting
Lender’s increased exposure following such reallocation. 
 (b) Defaulting Lender Cure. If the
Borrower, the Administrative Agent and Issuing Bank agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject
to any conditions set forth therein (which may include arrangements with respect to any cash collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions
as the Administrative Agent may determine to be necessary to cause the Loans and Advances and funded and unfunded participations in Letters of Credit, Swingline Loans and Protective Advances to be held pro rata by the Lenders in accordance with the
Commitments (without giving effect to Section 2.12(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on
behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a
waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 
 (c) New Swingline Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loans unless it is satisfied that
it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) the Issuing Bank shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure
after giving effect thereto. 

  
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 ARTICLE III 
 Payments of Principal and Interest; Prepayments; Fees 
 Section 3.01
Repayment of Loans; Evidence of Debt. 
 (a) Repayment. 

(i) The Borrower hereby unconditionally promises to pay to the Administrative Agent for account of each Revolving Credit
Lender the full outstanding principal amount of such Revolving Credit Lender’s Revolving Credit Loans, and each such Revolving Credit Loan shall mature, on the Revolving Credit Maturity Date. 

(ii) The Borrower hereby unconditionally promises to pay to the Swingline Lender the then unpaid
principal amount of each Swingline Loan on the earlier of the Revolving Credit Maturity Date and the first date after such Swingline Loan is made that is the 15th or last day of a calendar month and is at least five (5) Business Days after such Swingline Loan is made;
provided that on each date that a Revolving Credit Borrowing is made, the Borrower shall repay all Swingline Loans then outstanding. 
 (iii) The Borrower hereby unconditionally promises to pay to the Administrative Agent for account of each Term A Loan Lender on the Principal Payment Dates the aggregate principal amount to be paid
on each Principal Payment Date in respect of all Term A Loans held by the Term A Loan Lenders in the amount specified below: 
  

					
	 Principal Payment Dates:
	  	Amount of Payment on Each
Principal Payment Date	 
	 Each Principal Payment Date commencing on June 2014 and ending on June 2019
	  	$	90,900	  
		
	 The Principal Payment Date occurring on September 2019
	  	$	91,100	  

 The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of the
Term A Loan Lenders the full outstanding principal amount of the Term A Loans on the Term A Loan Maturity Date. 
 (iv) The Borrower hereby unconditionally promises to pay to the Administrative Agent for account of each Term B Loan Lender the principal amount of the Term B Loan held by such Term B Loan
Lender on the Principal Payment Dates the aggregate principal amount to be paid on each Principal Payment Date in respect of all Term B Loans held by the Term B Loan Lenders to be in the amount specified below (with the final such
installment being in the aggregate principal amount of the Term B Loans then outstanding): 

  
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	 Principal Payment Dates:
	  	Amount of Payment on Each
Principal Payment Date	 
	 Each Principal Payment Date commencing on June 2014 and ending on September 2015
	  	$	109,100	  
		
	 Each Principal Payment Date commencing on December 2015 and ending on September 2017
	  	$	159,100	  
		
	 Each Principal Payment Date commencing on December 2017 and ending on June 2019
	  	$	309,100	  
		
	 The Principal Payment Date occurring on September 2019
	  	$	308,900	  
		
	 Each Principal Payment Date commencing on December 2019 and ending on March 2020
	  	$	400,000	  
		
	 Each Principal Payment Date commencing on June 2020 and ending on March 2021
	  	$	450,000	  
		
	 Each Principal Payment Date commencing on June 2021 and ending on September 2022
	  	$	500,000	  

 The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of the
Term B Loan Lenders the full outstanding principal amount of the Term B Loans on the Term B Loan Maturity Date. 
 (b) Adjustment of Term A Loan Amortization Schedule. Any prepayment of Term A Loans under Section 3.04(a) shall be applied ratably to reduce the then remaining principal
installments of the Term A Loans. 
 (c) Adjustment of Term B Loan Amortization Schedule. Any
prepayment of Term B Loans under Section 3.04(a) shall be applied ratably to reduce the then remaining principal installments of the Term B Loans. 

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

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

(f) Effect of Entries. The entries made in the accounts maintained pursuant to Section 3.01(d) and
Section 3.01(e) (including the Register maintained pursuant to Section 12.04(c)) shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender
or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 

  
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 Section 3.02 Interest. 

(a) ABR Loans. The Loans comprising each ABR Borrowing (including each Swingline Loan) shall bear interest at the
Alternate Base Rate plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate. 
 (b)
Eurodollar Loans. The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate.

 (c) Post-Default Rate. Notwithstanding the foregoing, if an Event of Default has occurred and is
continuing, or if any principal of or interest on any Loan or any fee or other amount payable by the Borrower or any other Loan Party hereunder or under any other Loan Document is not paid when due, whether at stated maturity, upon acceleration or
otherwise, and including any payments in respect of a Borrowing Base Deficiency under Section 3.04(b), then, at the option of the Required Lenders, all or any portion of the Loans outstanding, in the case of an Event of Default, and such
overdue amount, in the case of a failure to pay amounts when due, shall bear interest, after as well as before judgment, at a rate per annum equal to two percent (2%) plus the rate applicable to ABR Loans as provided in
Section 3.02(a), but in no event to exceed the Highest Lawful Rate. 
 (d) Interest Payment
Dates. Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and on the Revolving Credit Maturity Date or Term Loan Maturity Date, as applicable; provided that (i) interest accrued
pursuant to Section 3.02(c) shall be payable on demand of the Required Lenders, (ii) in the event of any repayment or prepayment of any Loan (other than an optional prepayment of an ABR Loan prior to the Revolving Credit Maturity
Date or Term Loan Maturity Date, as applicable), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in the event of any conversion of any Eurodollar Loan prior to
the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 
 (e) Interest Rate Computations. All interest hereunder shall be computed on the basis of a year of 360 days, unless such computation would exceed the Highest Lawful Rate, in which case
interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be
computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate,
Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto. Interest on the principal of the Term B Loans shall be
limited to and calculated with respect to such Term B Loan proceeds actually disbursed to the Borrower pursuant to the terms of this Agreement and the Term B Notes and which are outstanding from time to time. 

(f) No Fees Paid to Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if a
Lender becomes a Defaulting Lender, then all fees shall cease to accrue on the unfunded portion of the applicable Commitment of such Defaulting Lender. 

  
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 Section 3.03 Alternate Rate of Interest. If prior to the commencement of any Interest
Period for a Eurodollar Borrowing: 
 (a) the Administrative Agent determines (which determination shall be
conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate for such Interest Period; or 

(b) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate or LIBO Rate, as applicable,
for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period; 
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders promptly as practicable in writing and, until the Administrative Agent notifies the Borrower and the Lenders that
the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective (and shall be
deemed to be a request for an ABR Borrowing), and (ii) if any Borrowing Request or Draw Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing. 

Section 3.04 Prepayments. 
 (a) Optional Prepayments. The Borrower shall have the right at any time and from time to time to voluntarily prepay any Borrowing in whole or in part, subject to prior notice in accordance with
Section 3.04(c). Any partial prepayment of a Eurodollar Borrowing shall be in a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof. Any partial prepayment of an ABR Borrowing shall be in a principal amount
of $100,000 or a whole multiple of $50,000 in excess thereof. Optional prepayments of either the Term A Loans or the Term B Loans shall reduce the applicable scheduled principal payments of such Class of Loans ratably. 

(b) Mandatory Prepayments. 
 (i) If the total Revolving Credit Exposures exceeds the total Revolving Credit Commitments, including without limitation due to a currency fluctuation and/or after giving effect to any termination or
reduction of the total Revolving Credit Commitments pursuant to Section 2.07, if applicable, then in any such case the Borrower shall (A) prepay the Revolving Borrowings on the date of such termination or reduction in an aggregate
principal amount equal to such excess, and (B) if any excess remains after prepaying all of the Revolving Borrowings as a result of an LC Exposure, pay to the Administrative Agent on behalf of the Lenders an amount equal to such excess to be
held as cash collateral as provided in Section 2.09(j). 
 (ii) If a Borrowing Base Deficiency
exists, then the Borrower shall prepay the Revolving Credit Loans and Swingline Loans in an aggregate principal amount equal to such Borrowing Base Deficiency, and if any Borrowing Base Deficiency remains after prepaying all of the Revolving Credit
Loans and Swingline Loans as a result of any LC Exposure, the Borrower shall pay to the Administrative Agent on behalf of the Lenders an amount equal to such Borrowing Base Deficiency to be held as cash collateral as provided in
Section 2.09(j). 

  
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 (iii) The Borrower shall make mandatory prepayments of the Term B Loans
(regardless of whether or not an Event of Default has occurred and is continuing) in an amount equal to one hundred percent (100%) of (i) the Net Cash Proceeds of any Disposition of real Property by the Borrower or any other Loan Party,
(ii) Extraordinary Receipts received by the Borrower or other Loan Party in connection with the real Property of the Borrower or any other Loan Party, and (iii) the Net Recovery Proceeds of any Recovery Event relating to any real Property
of the Borrower or any other Loan Party. Each prepayment of Borrowings pursuant to this clause (iii) shall be applied, first, ratably to the Term B Loans outstanding and reduce in inverse order of maturity the scheduled principal
payments of such Term B Loans, until repaid in full. 
 (iv) At any time during the continuation of an Event
of Default, concurrently with the receipt of Net Cash Proceeds from any Disposition by the Borrower or other Loan Party (other than a Disposition of real Property), the Borrower shall prepay the Loans in an aggregate principal amount equal to one
hundred percent (100%) of such Net Cash Proceeds. Each such mandatory prepayment shall be made and applied as provided in Section 3.04(b)(viii), subject during the Ex-Im Period to the Intercreditor Agreement. 

(v) At any time during the continuation of an Event of Default, the Borrower shall make mandatory prepayments of the Loans
in an amount equal to one hundred percent (100%) of the Net Recovery Proceeds of any Recovery Event by the Borrower or any other Loan Party and any Extraordinary Receipt (other than a Recovery Event or Extraordinary Receipt relating to real
Property of the Borrower or any other Loan Party). Each such mandatory prepayment shall be made and applied as provided in Section 3.04(b)(viii), and subject during the Ex-Im Period to the terms of the Intercreditor Agreement.

 (vi) At any time during the continuation of an Event of Default, concurrently with the receipt of Net Equity
Proceeds from the sale or issuance by PMFG of any of its Equity Interests (other than the issuance or sale of Equity Interests permitted under Section 9.04(b)), the Borrower shall prepay the Loans in an aggregate principal amount equal
to fifty percent (50%) of such Net Equity Proceeds received. Each such mandatory prepayment shall be made and applied as provided in Section 3.04(b)(viii), and subject during the Ex-Im Period to the terms of the Intercreditor
Agreement. 
 (vii) At any time during the continuation of an Event of Default, concurrently with the receipt of
Net Cash Proceeds from any issuance of Indebtedness by the Borrower or any other Loan Party other than Indebtedness permitted under Section 9.02, the Borrower shall prepay the Loans in an aggregate principal amount equal to one hundred
percent (100%) of such Net Cash Proceeds. Each such mandatory prepayment shall be made and applied as provided in Section 3.04(b)(viii), and subject during the Ex-Im Period to the terms of the Intercreditor Agreement. 

(viii) Each prepayment of Borrowings pursuant to Section 3.04(b)(iv), (v), (vi) or
(vii) shall be applied, first, ratably to the Term B Loans outstanding and reduce in inverse order of maturity the scheduled principal payments of such Term B Loans, until repaid in full, second, ratably to the Term A
Loans outstanding and reduce in inverse order of maturity the scheduled principal payments of such Term A Loans, until repaid in full, third, to any outstanding Swingline Loans, fourth, to any outstanding Revolving Credit Loans, and fifth, to
Cash Collateralize any LC Exposure. Each prepayment of Borrowings pursuant to this Section 3.04(b) within any Class shall be ratably applied first 

  
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– Page 68 

 
to any ABR Borrowings then outstanding, and, second, to any Eurodollar Borrowings then outstanding, and if more than one Eurodollar Borrowing is then outstanding, to each such Eurodollar
Borrowing in order of priority beginning with the Eurodollar Borrowing with the least number of days remaining in the Interest Period applicable thereto and ending with the Eurodollar Borrowing with the most number of days remaining in the Interest
Period applicable thereto. 
 (c) Notices and Terms. The Borrower shall notify the Administrative Agent
(and, in the case of prepayment of a Swingline Loan, the Swingline Lender) in writing of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., three (3) Business Days before the
date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., one (1) Business Day before the date of prepayment or (iii) in the case of prepayment of a Swingline Loan, not later than
11:00 a.m., on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, the Class of each Borrowing being prepaid, the principal amount of each Borrowing or a portion thereof to be prepaid and, in the
case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment; provided that if a notice of prepayment is given in connection with a conditional notice of termination of all or any of the Commitments as
contemplated by Section 2.07(b), then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.07(b). Promptly following receipt of any such notice relating to a Borrowing
of any Class, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of a Borrowing of the same Type as provided in
Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing of any Class shall be applied ratably to the Loans of such Class included in such Borrowing and (unless the
Borrower shall otherwise direct) shall be made, first, to ABR Loans and, second, to Eurodollar Loans. Prepayments shall be accompanied by accrued interest to the extent required by Section 3.02. 

(d) No Premium or Penalty. Prepayments permitted or required under this Section 3.04 shall be without
premium or penalty, except as required under Section 5.02. 
 (e) No Effect on Swap
Agreements. Prepayments permitted or required under this Section 3.04 shall not affect the Borrower’s obligation to continue making payments under any Swap Agreement, which shall remain in full force and effect notwithstanding
such prepayment, subject to the terms of such Swap Agreement. 
 Section 3.05 Fees. 

(a) Unused Fees. The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit
Lender an unused fee, which shall accrue at the applicable Unused Fee Rate on the average daily amount of the unused amount of the Revolving Credit Commitment of such Lender (whether or not then available) during the Revolving Credit Availability
Period. Accrued unused fees shall be payable in arrears on the last day of March, June, September and December of each year and on the Revolving Credit Maturity Date, commencing on the first such date to occur after the date hereof. All
unused fees shall be computed on the basis of a year of three hundred sixty (360) days, unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of three hundred sixty-five
(365)) days (or three hundred sixty-six (366) days in a leap year), and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing unused fees, the Revolving
Credit Commitment of a 

  
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Revolving Credit Lender shall be deemed to be used to the extent of the outstanding Revolving Credit Loans and LC Exposure of such Revolving Credit Lender (and the Swingline Exposure of such
Revolving Credit Lender shall be disregarded for such purpose). 
 (b) Letter of Credit Fees. The Borrower
agrees to pay (i) to the Administrative Agent for the account of each Revolving Credit Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the Applicable Margin on the Dollar Equivalent of
the average daily amount of such Revolving Credit Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date
on which such Revolving Credit Lender’s Commitment terminates and the date on which such Revolving Credit Lender ceases to have any LC Exposure, (ii) from and including the Effective Date to but excluding the later of the date of
termination of the Revolving Credit Commitments and the date on which there ceases to be any LC Exposure and payable on the dates specified below, to the Issuing Bank a fronting fee in the amount of the greater of (A) $500 and (B) on such
date of determination the amount equal to a fronting fee accruing at the rate of one eighth of one percent (0.125%) per annum on the average daily amount of the Dollar Equivalent of the LC Exposure (excluding any portion thereof attributable to
unreimbursed LC Disbursements) during such determination period, and (iii) to the Issuing Bank, for its own account, its standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of
drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the third (3rd) Business Day following such last day,
commencing on the first such date to occur after the Effective Date; provided that all such fees shall be payable on the Revolving Credit Maturity Date and any such fees accruing after the Revolving Credit Maturity Date shall be payable on
demand. Any other fees payable to the Issuing Bank pursuant to this Section 3.05 shall be payable within ten (10) days after demand. All participation fees and fronting fees shall be computed on the basis of a year of three hundred
sixty (360) days, unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of three hundred sixty-five (365) days (or three hundred sixty-six (366) days in a leap
year), and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 
 (c) Audit Fees. The Borrower hereby agrees to pay the Administrative Agent, on demand, reasonable audit fees in connection with any audits or inspections conducted by the Administrative Agent or
any collateral agent of any Collateral or the Borrower’s operations or business at such Agent’s standard rates together with all actual out-of-pocket costs and expenses incurred in conducting any such audit or inspection; provided
that, unless a Default or an Event of Default has occurred and is continuing, (i) the Borrower shall not be required to pay for more than one (1) field audit in any calendar year, and (ii) the auditor performing any such audits or
inspections shall be chosen in consultation with the Borrower. 
 (d) Administrative Agent Fees. The
Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent. 

(e) Intralinks Fee. The Borrower agrees to pay any fees associated with the Administrative Agent’s use of
Intralinks with respect to the Transactions. 
 (f) Other Fees. The Borrower agrees to pay all fees
payable in the amounts and at the times set forth in the Fee Letter. 

  
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 ARTICLE IV 
 Payments; Pro Rata Treatment; Sharing of Payments 
 Section 4.01
Payments Generally; Pro Rata Treatment; Sharing of Payments. 
 (a) Payments by the Borrower. The
Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 5.01, Section 5.02, Section 5.03
or otherwise) prior to 11:00 a.m., on the date when due, in immediately available funds, without defense, deduction, recoupment, set-off or counterclaim. Fees, once paid, shall be fully earned and shall not be refundable under any
circumstances. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments
shall be made to the Administrative Agent at its offices specified in Section 12.01, except payments to be made directly to the Issuing Bank or the Swingline Lender as expressly provided herein and except that payments pursuant to
Section 5.01, Section 5.02, Section 5.03 and Section 12.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the
account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and,
in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in Dollars. 

(b) Application of Insufficient Payments. If at any time insufficient funds are received by and available to the
Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the
parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties. 

(c) Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing and Advance of a
particular Class shall be made from the applicable Lenders, pro rata according to the amounts of the respective Commitments of such Class and shall be allocated pro rata among the applicable Lenders according to the amounts of their respective
Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing and Advance (in the case of conversions and continuations of Loans), (ii) each payment of unused
fees under Section 3.05 shall be made for account of the Revolving Credit Lenders, and each termination or reduction of the amount of the Revolving Credit Commitments under Section 2.07 shall be applied to the Revolving
Credit Commitments, pro rata according to the respective Revolving Credit Commitments of the Revolving Credit Lenders; (iii) each payment or prepayment of principal of Loans of any Class by the Borrower shall be made for account of the
applicable Lenders pro rata according to the respective unpaid principal amounts of the Loans of such Class held by such Lenders; and (iv) each payment of interest on Loans of any Class by the Borrower shall be made for account of the
applicable Lenders pro rata according to the amounts of interest on such Loans of such Class then due and payable to such Lenders. 
 (d) Sharing of Payments by Lenders. If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on

  
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any of its Loans or participations in LC Disbursements, Swingline Loans or other obligations hereunder resulting in such Lender receiving payment of a proportion of the aggregate amount of its
Loans and participations in LC Disbursements and Swingline Loans, as applicable, and accrued interest thereon or other such obligations greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion
shall (a) notify the Administrative Agent of such fact and (b) purchase (for cash at face value) participations in the Loans and participations in LC Disbursements and Swingline Loans, as applicable, and such other obligations of the other
applicable Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their
respective Loans and participations in LC Disbursements and Swingline Loans, as applicable, and other amounts owing them; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise
thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this Section 4.01(c) shall not be construed to apply to
(x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender) or (y) or any payment obtained by a Lender
as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any assignee or Participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions
of this Section 4.01(c) shall apply). The Borrower, each Subsidiary, each Guarantor and each other Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable Law, that any Lender acquiring a
participation pursuant to the foregoing arrangements may exercise against the Borrower, each Subsidiary, each Guarantor and each other Loan Party rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a
direct creditor of the Borrower, each Subsidiary, each Guarantor and each other Loan Party in the amount of such participation. 

Section 4.02 Presumption of Payment by the Borrower. Unless the Administrative Agent shall have received notice from the Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such
payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of
the Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from and including the date
such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on
interbank compensation. 
 Section 4.03 Certain Deductions by the Administrative Agent. If any Lender shall fail to make
any payment required to be made by it pursuant to Section 2.06(a), Section 2.09(d), Section 2.09(e), Section 2.09(g) or Section 4.02 then the Administrative Agent may, in its discretion
(notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations
are fully paid. 

  
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 ARTICLE V 
 Increased Costs; Break Funding Payments; Taxes; Illegality 
 Section 5.01
Increased Costs. 
 (a) Increased Costs, Generally. If any Change in Law shall: 

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

(ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in
clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other
liabilities or capital attributable thereto; or 
 (iii) impose on any Lender or the Issuing Bank or the London
interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the foregoing shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any Loan (or of maintaining its obligation
to make any such Loan) or to increase the cost to such Lender, the Issuing Bank or such other Recipient of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of
Credit) or to reduce the amount of any sum received or receivable by such Lender, the Issuing Bank or other Recipient hereunder (whether of principal, interest or any other amount), then, upon request of such Lender, the Issuing Bank or other
Recipient, the Borrower will pay to such Lender, the Issuing Bank or other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender, the Issuing Bank or other Recipient, as the case may be, for such additional
costs incurred or reduction suffered. 
 (b) Capital Requirements. If any Lender or the Issuing Bank
determines that any Change in Law affecting such Lender or the Issuing Bank or any lending office of such Lender or such Lender’s or the Issuing Bank’s holding company, if any, regarding capital or liquidity requirements has or would have
the effect of reducing the rate of return on such Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s or the Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Commitment of such
Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level below that which such Lender or the Issuing Bank or such Lender’s or the Issuing
Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the Issuing Bank’s policies and the policies of such Lender’s or the Issuing Bank’s holding company with
respect to capital adequacy), then from time to time the Borrower will pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or the Issuing Bank or such Lender’s or the
Issuing Bank’s holding company for any such reduction suffered. 
 (c) Certificates for
Reimbursement. A certificate of a Lender or the Issuing Bank setting forth the amount or amounts necessary to compensate such Lender or the Issuing Bank or 

  
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its holding company, as the case may be, as specified in Section 5.01(a) or (b) and be delivered to the Borrower shall be conclusive absent manifest error. The Borrower
shall pay such Lender or the Issuing Bank, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof. 
 (d) Delay in Requests. Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this Section 5.01 shall not constitute a waiver of such
Lender’s or the Issuing Bank’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender or the Issuing Bank pursuant to this Section 5.01 for any increased costs incurred
or reductions suffered more than nine (9) months prior to the date that such Lender or the Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s
or the Issuing Bank’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine (9) month period referred to above shall be extended to
include the period of retroactive effect thereof). 
 (e) Protection Absolute. The protection of this
Section 5.01 shall be available to each Lender and the Issuing Bank regardless of any possible contention of the invalidity or inapplicability of the Change in Law that shall have occurred or been imposed. 

Section 5.02 Compensation for Losses; Break Funding Payments. In the event of (a) the payment of any principal of any
Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan into an ABR Loan other than on the last day of the Interest Period
applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto, (d) the failure by Borrower to reimburse any drawing under any Letter of Credit
(or interest due thereon) denominated in an Approved Currency (other than Dollars) on its scheduled due date or any payment thereof in a different currency, (e) the assignment of any Eurodollar Loan other than on the last day of the Interest
Period applicable thereto as a result of a request by the Borrower pursuant to Section 5.04(b), or (f) the replacement of a Non-Consenting Lender in accordance with the terms of Section 5.04(b), then, in any such event,
the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the
excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of
such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which
would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for Dollar deposits of a comparable amount and period from other banks in the eurodollar
market. 
 A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to
this Section 5.02 shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof. 

Section 5.03 Taxes. 
 (a) Issuing Bank. For purposes of this Section 5.03, the term “Lender” includes the Issuing Bank. 

  
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 (b) Payments Free of Taxes. Any and all payments by or on account of
any obligation of any Loan Party hereunder or under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable Law. If any applicable Law (as determined in the good faith discretion of an
applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full
amount deducted or withheld to the relevant Governmental Authority in accordance with applicable Law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such
deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 5.03) the applicable Recipient receives an amount equal to the sum it would have received had no
such deduction or withholding been made. 
 (c) Payment of Other Taxes by the Borrower. The Borrower shall
timely pay to the relevant Governmental Authority in accordance with applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

(d) Indemnification by the Borrower. The Borrower shall indemnify each Recipient, within 10 days after demand
therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 5.03) payable or paid by such Recipient or required to be withheld or
deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A
certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest
error. 
 (e) Indemnification by the Lenders. Each Lender shall severally indemnify the Administrative
Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without
limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 12.04(d) relating to the maintenance of a Participant Register and
(iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not
such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest
error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source
against any amount due to the Administrative Agent under this Section 5.03(e). 
 (f) Evidence of
Payments. As soon as practicable after any payment of Taxes by the Borrower to a Governmental Authority pursuant to this Section 5.03, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a
receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

  
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 (g) Status of Lenders. 

(i) Any Lender (which for purposes of this subsection (g) shall include the Administrative Agent) that is entitled to
an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative
Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if
reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. 
 (ii) Without limiting the generality of the foregoing, in the event that the Borrower is a U.S. Borrower, 
 (A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement, including by way of
joinder, assignment or otherwise (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup
withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the
Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement, including by way of joinder, assignment or otherwise
(and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable: 
 (I) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed
originals of IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan
Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(II) executed originals of IRS Form W-8ECI; 

(III) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit J-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10
percent shareholder” of the 

  
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Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax
Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN; or 
 (IV) to the
extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit J-2 or
Exhibit J-4, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are
claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit J-3 on behalf of each such direct and indirect partner; 

(C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the
Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement, including by way of joinder, assignment or otherwise (and from time to
time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly
completed, together with such supplementary documentation as may be prescribed by applicable Law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and 

(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by
FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the
Administrative Agent at the time or times prescribed by Law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable Law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under
FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall
include any amendments made to FATCA after the date of this Agreement. 
 Each Lender agrees that if any form or
certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so.

  
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 (h) Treatment of Certain Refunds. If any party determines, in its
sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 5.03 (including by the payment of additional amounts pursuant to this
Section 5.03), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 5.03 with respect to the Taxes giving rise to such refund), net of all
out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified
party, shall repay to such indemnified party the amount paid over pursuant to this Section 5.03(h) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is
required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 5.03(h), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to
this Section 5.03(h) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the indemnification payments or additional amounts giving rise to
such refund had never been paid. This Section 5.03(h) shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the
indemnifying party or any other Person. 
 (i) Survival. Each party’s obligations under this
Section 5.03 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all
obligations under any Loan Document. 
 Section 5.04 Mitigation Obligations; Replacement of Lenders. 

(a) Designation of Different Lending Office. If any Lender requests compensation under Section 5.01, or gives
a notice pursuant to Section 5.05, or requires the Borrower to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.03, then such
Lender shall (at the request of the Borrower) use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or
affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 5.01 or Section 5.03, as the case may be, in the future and (ii) would
not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation
or assignment. 
 (b) Replacement of Lenders. If (i) any Lender requests compensation under
Section 5.01, (ii) the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.03, and in each case of
(i) or (ii) above, such Lender has declined or is unable to designate a different lending office in accordance with paragraph (a) preceding, (iii) any Lender is a Defaulting Lender, or (iv) any Lender is a Non-Consenting
Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in,
and consents required by, Section 12.04(b)), all of its interests, rights (other than its existing rights to payments pursuant to Section 5.01 or Section 5.03) and obligations under this Agreement and the related
Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that 

  
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 (i) the Borrower shall have received the prior written consent of the
Administrative Agent (unless a Loan is being assigned to an existing Lender or an Affiliate or Approved Fund thereof) and (if a Revolving Credit Commitment is being assigned) the Issuing Bank and the Swingline Lender to such assignee, in each case,
such consents not to be unreasonably withheld, conditioned or delayed and paid to the Administrative Agent the assignment fee specified in Section 12.04, 

(ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and
participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 5.02), from the assignee
(to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts), 
 (iii) in the case of any such assignment resulting from a claim for compensation under Section 5.01 or payments required to be made pursuant to Section 5.03, such assignment will
result in a reduction in such compensation or payments thereafter, 
 (iv) such assignment does not conflict with
the applicable Law and, 
 (v) in the case of any assignment resulting from a Lender becoming a Non-Consenting
Lender, the applicable assignee shall have consented to the applicable amendment, waiver or consent. 
 A Lender shall not be required to make
any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

Section 5.05 Illegality. Notwithstanding any other provision of this Agreement, in the event that it becomes unlawful for any
Lender or its applicable lending office to honor its obligation to make or maintain Eurodollar Loans either generally or having a particular Interest Period hereunder, then (a) such Lender shall promptly notify the Borrower and the
Administrative Agent thereof and such Lender’s obligation to make such Eurodollar Loans shall be suspended (the “Affected Loans”) until such time as such Lender may again make and maintain such Eurodollar Loans and
(b) all Affected Loans which would otherwise be made by such Lender shall be made instead as ABR Loans (and, if such Lender so requests by notice to the Borrower and the Administrative Agent, all Affected Loans of such Lender then outstanding
shall be automatically converted into ABR Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) ABR Loans, all payments of principal which would otherwise be applied to
such Lender’s Affected Loans shall be applied instead to its ABR Loans. 
 ARTICLE VI 

Conditions Precedent 
 Section 6.01 Effective Date. The obligations of the Lenders to make the initial Loans (other than the Term B Loans) and of the Issuing Bank to issue Letters of Credit hereunder shall not
become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 12.02): 

  
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 (a) Fees and Expenses. The Administrative Agent, the Arranger and the
Lenders shall have received all commitment, facility and agency fees and all other fees and amounts due and payable on or prior to the Effective Date, including, to the extent invoiced to Borrower at least two (2) Business Days prior to the
Effective Date, reimbursement or payment of all reasonable out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder (including, without limitation, the reasonable fees and expenses of Winstead PC, counsel to the
Administrative Agent). 
 (b) Officer Certificates. The Administrative Agent shall have received a
certificate of the Secretary, an Assistant Secretary or other duly authorized officer satisfactory to the Administrative Agent of the Borrower and each other Loan Party setting forth (i) resolutions of its board of directors or board of
managers (or equivalent body) or its managing member authorizing the execution, delivery and performance of the Loan Documents to which it is a party and, in the case of the Borrower, the borrowings hereunder, and that such resolutions have not been
modified, rescinded or amended and are in full force and effect, (ii) the officers of the Borrower or such other Loan Party (A) who are authorized to sign the Loan Documents to which the Borrower or such other Loan Party is a party and
(B) who will, until replaced by another officer or officers duly authorized for that purpose, act as its representative for the purposes of signing documents and giving notices and other communications in connection with this Agreement and the
transactions contemplated hereby, (iii) specimen signatures of such authorized officers, and (iv) the articles or certificate of incorporation and bylaws or certificate of formation and partnership agreement or certificate of formation and
limited liability company agreement (as the case may be) of the Borrower and each other Loan Party, certified as being true and complete. The Administrative Agent and the Lenders may conclusively rely on such certificate until the Administrative
Agent receives notice in writing from the Borrower to the contrary. 
 (c) Good Standings. The
Administrative Agent shall have received certificates of the appropriate State agencies from their respective jurisdictions of organization with respect to the existence, qualification and good standing of the Borrower and each other Loan Party.

 (d) Compliance Certificate. The Administrative Agent shall have received a compliance certificate which
shall be substantially in the form of Exhibit H, duly and properly executed by a Responsible Officer and dated as of the date of Effective Date. 
 (e) Borrowing Base Certificate. The Administrative Agent shall have received a borrowing base certificate which shall be substantially in the form of Exhibit I, duly and properly
executed by a Responsible Officer and dated as of the Effective Date. 
 (f) Executed Agreement. The
Administrative Agent shall have received from each party hereto counterparts (in such number as may be requested by the Administrative Agent) of this Agreement signed on behalf of such party. 

(g) Notes. The Administrative Agent shall have received duly executed Notes payable to the order of each Lender in
a principal amount equal to its applicable Commitment dated as of the date hereof. 

  
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 (h) Executed Collateral Documents. The Administrative Agent shall
have received from each party thereto duly executed counterparts (in such number as may be requested by the Administrative Agent) of the Security Agreement, the Mortgages, the Guaranty Agreement and such other Collateral Documents reasonably
requested by the Administrative Agent. In connection with the execution and delivery of the Collateral Documents, the Administrative Agent shall: 
 (i) be satisfied that the Collateral Documents create first priority, perfected Liens (subject only to Excepted Liens and during the Ex-Im Period, the Liens securing the obligations under the Ex-Im Credit
Agreement); and 
 (ii) have received certificates, together with undated, blank stock powers (if applicable) for
each such certificate, representing all of the issued and outstanding Equity Interest of each Person the Equity Interest of which are required to be pledged pursuant to the Loan Documents, in each case, to the extent such Equity Interests are
certificated. 
 (i) Opinion. The Administrative Agent shall have received an opinion of Jones Day,
counsel to the Loan Parties, in form and substance reasonably satisfactory to the Administrative Agent. 
 (j)
Evidence of Insurance. The Administrative Agent shall have received a certificate of insurance coverage of the Borrower evidencing that the Borrower is carrying insurance in accordance with this Agreement. 

(k) UCC Searches. The Administrative Agent shall have received the results of a search of the UCC filings (or
equivalent filings) made with respect to the Borrower and the other Loan Parties in the states (or other jurisdictions) of formation of such Persons, in which the chief executive office of each such Person is located and in the other jurisdictions
in which such Persons maintain Property, together with copies of the financing statements (or similar documents) disclosed by such search, and accompanied by evidence reasonably satisfactory to the Administrative Agent that the Liens indicated in
any such financing statement (or similar document) would be permitted under Section 9.03 or have been or will be contemporaneously released or terminated. 

(l) Payoff of Existing Credit Agreement. The Administrative Agent shall have received evidence of the payment in
full of all amounts due under the Existing Credit Agreement, the termination of all commitments to lend thereunder and the release of all Liens securing such obligations and any other obligations secured thereby, which payoff shall include the
issuance of a “back to back” Letter of Credit pursuant to Section 2.09(b) to fully collateralize any existing letters of credit issued under the Existing Credit Agreement and outstanding as of the Effective Date. 

(m) Prior Effectiveness of Assignment of Note and Deed of Trust. The Assignment of Note and Deed of Trust is
executed, delivered and effective prior to the execution, delivery and effectiveness of each of the other Loan Documents. 
 (n) Further Assurances. The Administrative Agent shall have received such other documents as the Administrative Agent or special counsel to the Administrative Agent may reasonably request.

 Without limiting the generality of the provisions of Section 11.04, for purposes of determining compliance with
the conditions specified in this Section 6.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or

  
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other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to
the proposed closing date specifying its objection thereto. 
 Section 6.02 Conditions to Initial Loan Advance. The
obligation of Term B Loan Lenders to make the Term B Loans is subject to the prior or simultaneous occurrence or satisfaction of each of the conditions set forth in Section A of Annex II (or waiver of such
conditions in accordance with Section 12.02). 
 Section 6.03 Each Credit Event. The obligation of each
Lender to make a Loan or Advance on the occasion of any Borrowing (including the initial funding), and of the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions: 

(a) No Default or Event of Default. At the time of and immediately after giving effect to such Borrowing or the
issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no Default or Event of Default shall have occurred and be continuing. 
 (b) No Material Adverse Effect. At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no
event, development or circumstance has occurred or shall then exist that has resulted in, or could reasonably be expected to have, a Material Adverse Effect. 
 (c) Representations and Warranties Correct. The representations and warranties of the Borrower and the other Loan Parties set forth in this Agreement and in the other Loan Documents shall be true
and correct on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, except to the extent any such representations and warranties are expressly limited to an earlier
date, in which case, on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, such representations and warranties shall continue to be true and correct as of such
specified earlier date. 
 (d) No Conflict. The making of such Loan or the issuance, amendment, renewal or
extension of such Letter of Credit, as applicable, would not conflict with, or cause any Lender or the Issuing Bank to violate or exceed, any applicable Governmental Requirement, and no Change in Law shall have occurred, and no litigation shall be
pending or threatened, which does or, with respect to any threatened litigation, seeks to, enjoin, prohibit or restrain, the making or repayment of any Loan, the issuance, amendment, renewal, extension or repayment of any Letter of Credit or any
participations therein or the consummation of the transactions contemplated by this Agreement or any other Loan Document. 
 (e) Borrowing and Draw Requests. The receipt by the Administrative Agent of a Borrowing Request or Draw Request in accordance with Section 2.03 or a request for a Letter of Credit in
accordance with Section 2.09(b), as applicable. 
 (f) Exchange Rates; Exchange Controls. In
the case of the issuance, amendment, extension or increase of a Letter of Credit to be denominated in an Approved Currency other than Dollars, there shall not have occurred any change in national or international financial, political or economic
conditions or currency exchange rates or exchange controls that in the reasonable opinion of the Administrative Agent or the Issuing Bank would make it impracticable for such issuance, amendment, extension or increase to be denominated in the
relevant Approved Currency. 

  
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 Each request for a Borrowing and each request for the issuance, amendment, renewal or
extension of any Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in Section 6.03(a) through (f). 

Section 6.04 Conditions to Advance. In addition to the requirements and conditions set forth in Section 6.03, the
obligation of the Term B Loan Lenders to make each Advance hereunder, including the initial Advance (unless otherwise specifically stated below), shall be subject to the prior or simultaneous occurrence or satisfaction of each (as applicable)
of the conditions set forth in Section B of Annex II. 
 ARTICLE VII 

Representations and Warranties 
 The Borrower represents and warrants to the Administrative Agent, the Swingline Lender, the Issuing Bank and the Lenders that: 
 Section 7.01 Organization; Powers. Each of the Loan Parties and their Subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization,
has all requisite power and authority, and has all material governmental licenses, authorizations, consents and approvals necessary, to own its assets and to carry on its business as now conducted, and is qualified to do business in, and is in good
standing in, every jurisdiction where such qualification is required, except where failure to have such power, authority, licenses, authorizations, consents, approvals and qualifications could not reasonably be expected to have a Material Adverse
Effect. 
 Section 7.02 Authority; Enforceability. The Transactions are within the Borrower’s and each other Loan
Party’s powers under its Organizational Documents and have been duly authorized by all necessary action (including, without limitation, any action required to be taken by any class of managers, directors, partners or owners of Equity Interests
of the Borrower or any other Person, whether interested or disinterested, in order to ensure the due authorization of the Transactions). Each Loan Document to which each Loan Party is a party has been duly executed and delivered by such Loan Party
and constitutes a legal, valid and binding obligation of such Loan Party, as applicable, enforceable in accordance with its terms, subject to Debtor Relief Laws or other Laws affecting creditors’ rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding in equity or at Law. 
 Section 7.03 Approvals; No
Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority or any other third Person (including members, shareholders, partners or any class of
managers, directors, or partners, whether interested or disinterested, of the Borrower or any other Person), nor is any such consent, approval, registration, filing or other action necessary for the validity or enforceability of any Loan Document or
the consummation of the transactions contemplated thereby, except such as have been obtained or made and are in full force and effect other than (i) the recording and filing of the Collateral Documents as required by this Agreement, and
(ii) those third party approvals or consents which, if not made or obtained, would not cause a Default hereunder, could not reasonably be expected to have a Material Adverse Effect or do not have an adverse effect on the enforceability of the
Loan Documents, (b) will not violate any applicable Law or Organizational Documents of any Loan Party or any Subsidiary of any Loan Party or any order of any Governmental Authority, (c) will not violate or result in a default under any
indenture, agreement or other instrument binding upon any Loan Party or any Subsidiary of any Loan Party or its Properties, or give rise to a right thereunder to require any payment to be made by any Loan Party or such Subsidiary of any Loan Party
and (d) will not result in the creation or imposition of any Lien on any Property of any Loan Party or any Subsidiary of any Loan Party (other than the Liens created by the Loan Documents). 

  
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 Section 7.04 Financial Condition; No Material Adverse Change. 

(a) The financial statements of Borrower heretofore furnished to the Lenders present fairly, in all material respects, the
financial condition and results of operations and cash flows of the Borrower and its Consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the
case of the unaudited quarterly financial statements. Such balance sheets and the notes thereto disclose all material liabilities, direct or contingent, of the Borrower and its Consolidated Subsidiaries as of the dates thereof. 

(b) Since July 2, 2011, there has been no event, development or circumstance that has had or could reasonably be
expected to have a Material Adverse Effect. 
 Section 7.05 Litigation. 

(a) Except as set forth on Schedule 7.05, there are no actions, suits, investigations or proceedings by or before
any arbitrator or Governmental Authority pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any Subsidiaries (i) not fully covered by insurance (except for normal deductibles) as to which there
is a reasonable possibility of an adverse determination that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, or (ii) that involve any Loan Document or the
Transactions. 
 (b) Since the date of this Agreement, there has been no change in the status of the matters
disclosed in Schedule 7.05 that, individually or in the aggregate, has resulted in, or materially increased the likelihood of, a Material Adverse Effect. 
 Section 7.06 Environmental Matters. 
 (a) Except as set
forth in Schedule 7.06 and as could not be reasonably expected to have a Material Adverse Effect, the Borrower, the other Loan Parties or any of their Subsidiaries (i) has failed to comply with any Environmental Law or to obtain,
maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability
or (iv) knows of any facts that could reasonably be expected to result in any Environmental Liability. 

(b) Since the date of this Agreement, there has been no change in the status of the matters disclosed in
Schedule 7.06 that, individually as in the aggregate, has resulted in, or materially increased the likelihood of, a Material Adverse Effect. 
 Section 7.07 Compliance with the Laws and Agreements; No Defaults. 
 (a) Each of the Borrower, the other Loan Parties and each Subsidiary of the Loan Parties is in compliance with all Governmental Requirements and Requirements of Law applicable to it or its Property and
all agreements and other instruments binding upon it or its Property, and possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations necessary for the ownership of its Property and the conduct of its
business, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

  
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 (b) No Default or Event of Default has occurred and is continuing.

 Section 7.08 Investment Company Act. None of the Borrower, the other Loan Parties or any of their Subsidiaries is an
“investment company” or a company “controlled” by an “investment company,” within the meaning of, or subject to regulation under, the Investment Company Act of 1940, as amended. 

Section 7.09 Taxes. Each of the Borrower, the other Loan Parties and its Subsidiaries has timely filed or caused to be filed all
Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which the Borrower,
such Loan Party or such Subsidiary, as applicable, has set aside on its books adequate reserves in accordance with GAAP or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. The
charges, accruals and reserves on the books of the Borrower, the other Loan Parties and their Subsidiaries in respect of Taxes and other governmental charges are adequate. To the knowledge of the Borrower, there is no proposed tax assessment against
the Borrower or any of their respective Subsidiaries that would, if made, have a Material Adverse Effect. 
 Section 7.10
ERISA. Except with respect to any matters that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, (a) no ERISA Event has occurred or is reasonably expected to occur and
(b) each Plan has complied with the applicable provisions of ERISA and the Code. The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement of Financial Accounting Standards
No. 87) does not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan by an amount that could reasonably be expected to result in a Material Adverse Effect.

 Section 7.11 Disclosure. None of the written reports, financial statements, certificates or other written information
(other than projections and other forward looking information) furnished by or on behalf of the Borrower or any Subsidiary to the Administrative Agent or any Lender in connection with the negotiation of this Agreement and the other Loan Documents or
delivered hereunder or thereunder (as modified or supplemented by other information so furnished) taken as a whole contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading: provided that with respect to projected financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed to
be reasonable at the time of preparation thereof. 
 Section 7.12 Insurance. The Borrower has, and has caused all of its
Subsidiaries to have, (a) all insurance policies sufficient for the compliance by each of them with all material Governmental Requirements and all material agreements and (b) insurance coverage in at least amounts and against such risk
(including, without limitation, public liability) that are commercially reasonable and usually insured against by companies similarly situated and engaged in the same or a similar business for the assets and operations of the Borrower and its
Subsidiaries. The Administrative Agent has been named as an additional insured in respect of such liability insurance policies covering the Loan Parties, and the Administrative Agent in its capacity as such has been named as loss payee with respect
to Property loss insurance for Properties of the Loan Parties. 
 Section 7.13 Restriction on Liens. The Property of the
Loan Parties is subject to no Liens other than those permitted in the Loan Documents. 

  
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 Section 7.14 Subsidiaries. Except as set forth on Schedule 7.14 or as
disclosed in writing to the Administrative Agent (which shall promptly furnish a copy to the Lenders), which shall be a supplement to Schedule 7.14, the Borrower has no Subsidiaries. 

Section 7.15 Ownership of Properties. Each of the Borrower and each Subsidiary has good record and marketable title in fee simple
to, or valid leasehold interests in, all real Property necessary or used in the ordinary conduct of its business, except for Excepted Liens or such defects in title as could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. The property of the Borrower and its Subsidiaries is subject to no Liens, other than Liens permitted by Section 9.03. 
 Section 7.16 Collateral Documents. The provisions of the Collateral Documents are effective to create in favor of the Administrative Agent for the benefit of the Secured Parties a legal, valid and
enforceable first priority Lien on all right, title and interest of the respective Loan Parties in the Collateral described therein, subject to (a) Excepted Liens and (b) during the Ex-Im Period, the first priority Liens of the Ex-Im
Lender as described in the Intercreditor Agreement. Except for filings completed prior to the Effective Date and as contemplated hereby and by the Collateral Documents, no filing or other action will be necessary to perfect or protest such Liens.

 Section 7.17 Use of Loans and Letters of Credit. The proceeds of the Revolving Credit Loans and the Letters of Credit
shall only be used to provide working capital for operations, to refinance Indebtedness under the Existing Credit Agreement, to provide funding of Capital Expenditures and Permitted Acquisitions and for general corporate purposes. The proceeds of
the Term A Loans shall be used only to provide funding for equipment acquisitions and financings. The proceeds of the Term B Loans shall be used to finance the construction and development of the Improvements on the Denton Property and
finance related costs and expenses set forth in the approved Budget in accordance herewith. No Loan Party nor any of its Subsidiaries is engaged principally, or as one of its or their important activities, in the business of extending credit for the
purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which
violates the provisions of Regulations T, U or X of the Board. If the Borrower does not use all of the Term B Loan proceeds for each Allocation for the specific purpose thereof, those unused Term B Loan proceeds for such Allocation
cannot be used for a different purpose or otherwise funded to or for the benefit of the Borrower except if reallocated as provided in Section 2.10(c). 
 Section 7.18 Solvency. After giving effect to the Transactions contemplated hereby, (a) the aggregate assets (after giving effect to amounts that could reasonably be received by reason of
indemnity, offset, insurance or any similar arrangement), at a fair valuation, of the Borrower and the other Loan Parties, taken as a whole, will exceed the aggregate Indebtedness of the Borrower and the other Loan Parties on a consolidated basis,
as the Indebtedness becomes absolute and matures, (b) each of the Borrower and the other Loan Parties will not have incurred or intended to incur, and will not believe that it will incur, Indebtedness beyond its ability to pay such Indebtedness
(after taking into account the timing and amounts of cash to be received by the Borrower and the other Loan Parties and the amounts to be payable on or in respect of its liabilities, and giving effect to amounts that could reasonably be received by
reason of indemnity, offset, insurance or any similar arrangement) as such Indebtedness becomes absolute and matures and (c) each of the Borrower and the other Loan Parties will not have (and will have no reason to believe that it will have
thereafter) unreasonably small capital for the conduct of its business. 
 Section 7.19 Sanctioned Persons. None of the
Borrower, any other Loan Party or any Subsidiary of any Loan Party nor, to the knowledge of the Borrower, any director, officer, agent, employee or Affiliate of the Borrower, any other Loan Party or any Subsidiary of any Loan Party is

  
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currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”); and the Borrower will not directly
or indirectly use the proceeds of the Loans or the Letters of Credit or otherwise make available such proceeds to any Person, for the purpose of financing the activities of any Person currently subject to any U.S. sanctions administered by OFAC.

 Section 7.20 Construction Representations. Each of the representations and warranties contained in
Section C of Annex II are true and correct. 
 ARTICLE VIII 

Affirmative Covenants 
 Until the Release Date, the Borrower covenants and agrees with the Lenders that: 

Section 8.01 Financial Statements; Other Information. The Borrower will furnish to the Administrative Agent and each Lender:

 (a) Annual Financial Statements. As soon as available, but in any event in accordance with then
applicable Law and not later than ninety (90) days after the end of each fiscal year of the Borrower, its audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for
such year, setting forth in each case in comparative form the figures for the previous fiscal year of the Borrower, all reported on by independent public accountants of recognized national standing acceptable to the Administrative Agent (without a
“going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial
condition and results of operations of the Borrower and its Consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied. 
 (b) Quarterly Financial Statements. As soon as available, but in any event in accordance with then applicable Law and not later than 45 days after the end of each fiscal quarter of the Borrower
(unless such quarter end is also the end of a fiscal year) (beginning with the fiscal quarter of Borrower ending on or about September 30, 2012), its consolidated balance sheet and related statements of operations, stockholders’ equity and
cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as
of the end of) the previous fiscal year, all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its Consolidated Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes. 
 (c) Certificate of Financial Officer — Compliance. Concurrently with any delivery of financial statements under Section 8.01(a) or Section 8.01(b), a Compliance
Certificate (i) certifying as to whether a Default has occurred and is continuing and, if a Default has occurred and is continuing, specifying the details thereof and any action taken or proposed to be taken with respect thereto,
(ii) setting forth reasonably detailed calculations demonstrating compliance with Section 9.01 and (iii) stating whether any change in GAAP or in the application thereof has occurred since the date of the audited financial
statements referred to in Section 7.04 (or, if later, the most recently delivered audited financial statements pursuant to Section 8.01(a)) and, if any such change has occurred, specifying the effect of such change on the
financial statements accompanying such certificate. 

  
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 (d) Certificate of Financial Officer — Consolidating
Information. If, at any time, any of the Subsidiaries of the Borrower are not Consolidated Subsidiaries, then concurrently with any delivery of financial statements under Section 8.01(a) or Section 8.01(b), a certificate
of a Financial Officer setting forth consolidating spreadsheets that show all Consolidated Subsidiaries and the eliminating entries, in such form as would be presentable to the auditors of the Borrower. 

(e) Borrowing Base Certificate; Inventory and Accounts Reports, Etc. As soon as available, and in any event within
thirty (30) days after the end of each calendar month of the Borrower, a Borrowing Base Certificate prepared as of the end of such calendar month, together with an accounts receivable aging report, an inventory report and such other monthly
financial information regarding the Borrower and its Subsidiaries that the Administrative Agent shall reasonably request, in each case, in form and substance reasonably satisfactory to the Administrative Agent. 

(f) Projections. As soon as available, but in any event at least 15 days before the end of each fiscal year of
Borrower, projections (prepared by management of the Borrower on a consolidated basis (provided that income statements included in such projections shall be prepared on a consolidated and consolidating basis)) for the Borrower and its Subsidiaries
for the next succeeding fiscal year, on a quarterly basis, including a balance sheet, as at the end of each relevant period and for the period commencing at the beginning of the fiscal year and ending on the last day of such relevant period, such
projections certified by a Responsible Officer of the Borrower as being based on reasonable estimates and assumptions taking into account all facts and information known (or reasonably available to any Loan Party) by such Responsible Officer at the
time such projections were prepared. 
 (g) Other Accounting Reports. Promptly upon receipt thereof, a
copy of each other report or letter submitted to the Borrower or any of its Subsidiaries by independent accountants in connection with any annual, interim or special audit made by them of the books of the Borrower or any such Subsidiary, and a copy
of any response by the Borrower or any such Subsidiary, or the board of directors of the Borrower or any such Subsidiary, to such letter or report. 
 (h) SEC and Other Filings; Reports to Shareholders. Promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed by the
Borrower or any Subsidiary with the SEC, or with any national securities exchange, or distributed by the Borrower to its shareholders generally, as the case may be. 

(i) Notice of Recovery Events. Prompt written notice, and in any event within five (5) Business Days after the
Borrower becomes aware thereof, of the occurrence of any Recovery Event with respect to any property of any Loan Party involving an aggregate amount of Net Recovery Proceeds in excess of $250,000, or the commencement of any action or proceeding that
could reasonably be expected to result in such a Recovery Event. 
 (j) Information Regarding Borrower and
Other Loan Parties. Prompt written notice (and in any event within thirty (30) days prior thereto) of any change (i) in the Borrower’s or any Loan Party’s corporate name or in any trade name used to identify such Person in
the conduct of its business or in the ownership of its Properties, (ii) in the location of the Borrower’s or any Loan Party’s chief executive office or principal place of business, (iii) in the Borrower’s or any Loan
Party’s organizational form or in the jurisdiction in which such Person is incorporated or formed, (iv) in the Borrower’s or any Loan Party’s jurisdiction of organization or such Person’s organizational identification number
in such jurisdiction of organization, and (v) in the Borrower or any Loan Party’s federal taxpayer identification number, if any. 

  
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 (k) Notices of Certain Changes. Promptly, but in any event within
five (5) Business Days after the execution thereof, copies of any amendment, modification or supplement to the Organizational Documents of the Borrower or any other Loan Party. 

(l) PATRIOT Act. Promptly after the reasonable request by any Lender, all documentation and other information that
such Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Act. 

(m) Estoppel Certificate. Promptly following any request by the Administrative Agent, but not more often than twice
a calendar year, within five (5) Business Days after request therefor, an estoppel certificate or written statement, duly acknowledged, stating the amount of the Term B Loan proceeds that have been disbursed pursuant to this Agreement, the
amount due under the Obligations, and whether any offsets or defenses exist against the Obligations or the Loan Documents. 
 (n) Other Requested Information. Promptly following any request therefor, such other information regarding the operations, business affairs and financial condition of the Borrower or any Subsidiary
(including, without limitation, any Plan or Multiemployer Plan and any reports or other information required to be filed by any Loan Party or Subsidiary thereof under ERISA), or compliance with the terms of this Agreement or any other Loan Document,
as the Administrative Agent or any Lender may reasonably request. 
 As to any information contained in materials furnished
pursuant to Section 8.01(h), the Borrower shall not be separately required to furnish such information under clause (a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower
to furnish the information and materials described in clauses (a) and (b) above at the times specified therein. 
 Documents required to be delivered pursuant to Section 8.01(a), (b) or (h) (to the extent any such documents are included in materials otherwise filed with the SEC) may
be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s Internet website (such website address to be
provided by the Borrower to the Administrative Agent); or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent); provided that: (i) the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender that requests the Borrower to deliver such
paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (ii) the Borrower shall notify the Administrative Agent and each Lender (by telecopier or electronic mail) of the
posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper
copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it
or maintaining its copies of such documents. In the event that the Borrower furnishes to the Administrative Agent written notices or other documentation pursuant to this Section 8.01, the Administrative Agent shall promptly furnish a
copy thereof to each Lender pursuant to the procedures for notices and communications set forth in Section 12.01. 

  
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 Section 8.02 Notices of Material Events. The Borrower will furnish to the
Administrative Agent and each Lender prompt written notice of the following: 
 (a) the occurrence of any Default
or any Event of Default; 
 (b) the filing or commencement of, or the threat in writing of, any action, suit,
proceeding, investigation or arbitration by or before any arbitrator or Governmental Authority against or affecting any Loan Party or any Subsidiary thereof not previously disclosed in writing to the Lenders or any material adverse development in
any action, suit, proceeding, investigation or arbitration (whether or not previously disclosed to the Lenders) that, in either case, if adversely determined, could reasonably be expected to result in a Material Adverse Effect; 

(c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could
reasonably be expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding $1,000,000; and 
 (d) any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect. 
 Each notice delivered under this Section 8.02 shall be accompanied by a statement of a Responsible Officer setting forth the details of the event or development requiring such notice and any
action taken or proposed to be taken with respect thereto. 
 The Borrower hereby acknowledges that (i) the Administrative
Agent and/or the Arrangers may, at their option, make available to the Lenders and the Issuing Bank the Communications by posting the Communications on the Platform and (ii) certain of the Lenders (each, a “Public
Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower, its Affiliates, or any of the other Loan Parties, or the respective securities of any of the foregoing, and who may be
engaged in investment and other market-related activities with respect to such Persons’ securities. The Borrower hereby agrees that (w) all Communications that are to be made available to Public Lenders shall be clearly and conspicuously
marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Communications “PUBLIC,” the Borrower shall be deemed to have authorized the
Administrative Agent, the other Agents, the Arrangers, the Issuing Bank and the Lenders to treat such Communications as not containing any material non-public information with respect to the Borrower, any of the Loan Parties, or any of their
securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Communications constitute Information, they shall be treated as set forth in Section 12.11); (y) all
Communications marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent, the other Agents and each of the Arrangers shall be
entitled to treat any Communications that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.” 

Section 8.03 Existence; Conduct of Business. The Borrower will, and will cause each Subsidiary to, do or cause to be done all
things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business and maintain, if necessary, its qualification to do
business in each other jurisdiction in which its Properties are located or the ownership of its Properties requires such qualification, except where the failure to so qualify could not reasonably be expected to have a Material Adverse Effect;
provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 9.10. 

  
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 Section 8.04 Payment of Obligations. The Borrower will, and will cause each
Subsidiary to, pay its obligations, including Tax liabilities of the Borrower and all of its Subsidiaries before the same shall become delinquent or in default, except where (a) (i) the validity or amount thereof is being contested in good
faith by appropriate proceedings and (ii) the Borrower or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP or (b) the failure to make payment, individually or in the aggregate, could
not reasonably be expected to result in a Material Adverse Effect or result in the seizure or levy of any Property of the Borrower or any Subsidiary. 
 Section 8.05 Performance of Obligations under Loan Documents. The Borrower will pay the Notes according to the reading, tenor and effect thereof, and the Borrower will, and will cause each
Subsidiary to, do and perform every act and discharge all of the obligations to be performed and discharged by them under the Loan Documents, including, without limitation, this Agreement, at the time or times and in the manner specified.

 Section 8.06 Maintenance of Properties. The Borrower, at its own expense, will, and will cause each Subsidiary to keep
and maintain all Property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, to the standard that properties in the same or similar businesses operating in same or similar locations of like
age, condition and use are maintained. 
 Section 8.07 Insurance. In addition to the requirements set forth in
Section D(e) of Annex II, the Borrower will, and will cause each Subsidiary to, maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily
maintained by companies engaged in the same or similar businesses operating in the same or similar locations. In addition to the requirements set forth in Section D(e) of Annex II, the loss payable clauses or provisions in
said insurance policy or policies insuring any of the Collateral shall be endorsed in favor of and made payable to the Administrative Agent as its interests may appear and such policies shall name the Administrative Agent in its capacity as such as
“additional insured” and provide that the insurer will endeavor to give at least thirty (30) days prior notice of any cancellation to the Administrative Agent. 
 Section 8.08 Books and Records; Inspection Rights; Field Audits. The Borrower will, and will cause each Subsidiary to, keep proper books of record and account in which full, true and correct
entries are made of all dealings and transactions in relation to its business and activities in accordance with GAAP. In addition to the inspections permitted under Section D(d) of Annex II, the Borrower will, and will cause
each Subsidiary to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its Properties, to perform field audits (provided that unless a Default or Event of
Default has occurred and is continuing, such audits shall be no more frequently than once a calendar year), to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent
accountants, all at such reasonable times during Borrower’s normal business hours and as often as reasonably requested. 

Section 8.09 Compliance with Laws. The Borrower will, and will cause each Subsidiary to, comply with all Laws, rules, regulations
and orders of any Governmental Authority applicable to it or its Property (including any Environmental Laws), except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse
Effect. 
 Section 8.10 ERISA Compliance. The Borrower will promptly furnish and will cause the Subsidiaries and any
ERISA Affiliate to promptly furnish to the Administrative Agent (i) promptly after the filing thereof with the United States Secretary of Labor, the Internal Revenue Service or the PBGC, copies of each annual and other report with respect to
each Plan or any trust created thereunder, (ii) immediately upon becoming aware of the occurrence of any ERISA Event or of any material “prohibited transaction,” as described in Section 406 of ERISA or in Section 4975 of the
Code, in 

  
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connection with any Plan or any trust created thereunder, a written notice signed by the President or the principal Financial Officer, the Subsidiary or the ERISA Affiliate, as the case may be,
specifying the nature thereof, what action the Borrower, the Subsidiary or the ERISA Affiliate is taking or proposes to take with respect thereto, and, when known, any action taken or proposed by the Internal Revenue Service, the Department of Labor
or the PBGC with respect thereto, and (iii) immediately upon receipt thereof, copies of any notice of the PBGC’s intention to terminate or to have a trustee appointed to administer any Plan. With respect to each Plan (other than a
Multiemployer Plan), the Borrower will, and will cause each Subsidiary and ERISA Affiliate to, (i) satisfy in full and in a timely manner, without incurring any late payment or underpayment charge or penalty and without giving rise to any lien,
all of the contribution and funding requirements of Section 412 of the Code (determined without regard to subsections (d), (e), (f) and (k) thereof) and of Section 302 of ERISA (determined without regard to
Sections 303, 304 and 306 of ERISA), and (ii) pay, or cause to be paid, to the PBGC in a timely manner, without incurring any late payment or underpayment charge or penalty, all premiums required pursuant to Sections 4006 and 4007 of
ERISA. 
 Section 8.11 Swap Agreements. Within one hundred twenty (120) days of the Effective Date, the
Administrative Agent shall have received evidence that the Borrower has purchased one or more Swap Agreements effectively either converting interest rates from floating to fixed or capping the interest rate, as Borrower may elect, for at least fifty
percent (50%) of the then outstanding principal amount of the Term Loans. The Borrower shall maintain such hedge positions for so long as the Term Loans remain outstanding and shall neither assign, terminate or unwind any such Swap Agreements
nor sell any Swap Agreements if the effect of such action (when taken together with any other Swap Agreements executed contemporaneously with the taking of such action) would have the effect of canceling its positions under such Swap Agreements
required hereby. Such Swap Agreements shall be on terms reasonably acceptable to the Administrative Agent. 
 Section 8.12
Administrative Agent as Principal Depository. The Borrower shall maintain the Administrative Agent as its principal depository bank, including for the maintenance of business, cash management, operating and administrative deposit accounts.
All deposit accounts of the Borrower and its Subsidiaries not maintained with the Administrative Agent shall be maintained with a Lender or an Affiliate thereof; provided however, that with respect to foreign deposit accounts, such accounts
may be maintained with, to the extent that it is commercially impractical or unreasonable for the Borrower or a Subsidiary to maintain such accounts with a Lender or an Affiliate thereof, Bank of China or such other financial institution selected by
the Borrower or such Subsidiary in its commercially reasonable discretion. Notwithstanding anything herein to the contrary, the Borrower and its Subsidiaries shall have one hundred twenty (120) days after the Effective Date to be in compliance
with this Section 8.12. 
 Section 8.13 Additional Collateral. 

(a) With respect to each Person which becomes a Domestic Subsidiary of the Borrower (directly or indirectly) subsequent to
the Effective Date, whether by Permitted Acquisition or otherwise, the Borrower shall cause such new Domestic Subsidiary to execute and deliver to the Administrative Agent, for and on behalf of each of the Lenders: 

(i) within thirty (30) days after the date such Person becomes a Domestic Subsidiary (or such longer time period as
the Administrative Agent may determine), at the Administrative Agent’s option, (A) a Guaranty Agreement in substantially the same form as the Guaranty Agreement executed by the Guarantors on the Effective Date (or a joinder agreement
thereto) whereby such Domestic Subsidiary becomes obligated as a Guarantor, or (B) a joinder to this Agreement whereby such Domestic Subsidiary becomes a Borrower hereunder; 

  
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 (ii) within thirty (30) days after the date such Person becomes a
Domestic Subsidiary (or such longer time period as the Administrative Agent may determine), a Security Agreement substantially in the same form as the Security Agreement executed by the Loan Parties on the Effective Date (or a joinder thereto)
whereby such Domestic Subsidiary grants a Lien over its assets (subject to the limitations on the pledge of Equity Interests set forth in Section 2.11(b)) as set forth in the Security Agreements, and such Domestic Subsidiary shall take
such additional actions as may be necessary to ensure a valid first priority perfected Lien over such assets of such Domestic Subsidiary, subject only to Excepted Liens and during the Ex-Im Period the first priority Liens of the Ex-Im Lender as
described in the Intercreditor Agreement; and 
 (iii) with the time period specified in and to the extent
required under Section 8.13(b), a Mortgage and other Collateral Documents required to be delivered in connection therewith; and 
 (b) (i) With respect to the acquisition of a fee interest in real Property by any Loan Party after the Effective Date (whether by Permitted Acquisition or otherwise), not later than thirty
(30) days after the acquisition is consummated or the owner of such Property becomes a Domestic Subsidiary (or such longer time period as the Administrative Agent may determine), such Loan Party shall execute or cause to be executed (unless
waived by the Administrative Agent), a Mortgage (or an amendment to an existing Mortgage, where appropriate) covering such real Property, together with such additional real estate documentation, environmental reports, title policies and surveys as
may be reasonably required by the Administrative Agent; and (ii) with respect to the acquisition of any leasehold interest in real Property by any Loan Party after the Effective Date (whether by Permitted Acquisition or otherwise), upon which
the primary books and records of any Loan Party are or will be located, the applicable Loan Party shall promptly deliver to the Administrative Agent a copy of the applicable lease agreement and shall use commercially reasonable, good faith efforts
to deliver to the Administrative Agent, not later than thirty (30) days after the acquisition is consummated or the owner of the applicable leasehold interest becomes a Domestic Subsidiary (or such longer time period as the Administrative Agent
may determine), unless otherwise waived by the Administrative Agent, a collateral access agreement in the form and substance reasonably acceptable to the Administrative Agent together with such other documentation as may be reasonably required by
the Administrative Agent; 
 In each case in the form reasonably satisfactory to the Administrative Agent, in its reasonable
discretion, together with such supporting documentation, including corporate authority items, certificates and opinions of counsel, as reasonably required by the Administrative Agent. Upon the Administrative Agent’s request, the Loan Parties
shall take, or cause to be taken, such additional steps as are necessary or advisable under applicable Law to perfect and ensure the validity and priority of the Liens granted under this Section 8.13. In the case of assets or properties
other than the Domestic-First Priority Collateral, this Agreement and the other Loan Documents shall not require the creation or perfection of Liens in particular properties or assets if and for so long as, in the reasonable judgment of the
Administrative Agent, the cost of creating or perfecting such Liens in such property shall be excessive in view of the benefits to be obtained by the Lenders therefrom. 
 Section 8.14 Further Assurances. 
 (a) The Borrower at its
sole expense will, and will cause each other Loan Party to, promptly execute and deliver to the Administrative Agent all such other documents, agreements and instruments reasonably requested by the Administrative Agent to comply with, cure any

  
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 defects or accomplish the conditions precedent, covenants and agreements of the Borrower or
any other Loan Party, as the case may be, in the Loan Documents, including the Notes, or to further evidence and more fully describe the collateral intended as security for the Obligations, or to correct any omissions in this Agreement or the
Collateral Documents, or to state more fully the obligations secured therein, or to perfect, protect or preserve any Liens created pursuant to this Agreement or any of the Collateral Documents or the priority thereof, or to make any recordings, file
any notices or obtain any consents, all as may be necessary or appropriate, in the reasonable discretion of the Administrative Agent, in connection therewith. 
 (b) The Borrower hereby authorizes the Administrative Agent to file one or more financing or continuation statements, and amendments thereto, relative to all or any part of the Mortgaged Property or other
Property covered by the Lien of the Collateral Documents without the signature of the Borrower or any other Guarantor where permitted by Law. A carbon, photographic or other reproduction of the Collateral Documents or any financing statement
covering the Mortgaged Property such other Property or any part thereof shall be sufficient as a financing statement where permitted by Law. 
 Section 8.15 Construction Covenants. Each of the covenants contained in Section D of Annex II shall apply. 

Section 8.16 Ex-Im Credit Agreement. After the Effective Date, the Borrower shall cooperate with the Ex-Im Lender and the Ex-Im
Bank to enter into an Ex-Im Credit Agreement and all related loan documents, provided that each is in a form and substance acceptable to the Ex-Im Lender; and the Borrower; provided that such Ex-Im Credit Agreement and the related loan
documents shall be cross-collateralized and cross-defaulted with the Loan Documents, subject to the terms and conditions of the Intercreditor Agreement and the Borrower Agreement. The Borrower shall acknowledge, execute and deliver the Intercreditor
Agreement in connection with the execution and delivery of the Ex-Im Credit Agreement. The Borrower shall do all things necessary to ensure that it is an Eligible Person. The obligations of the Borrower under the Ex-Im Credit Agreement and related
documents shall be, until all such obligations have been paid in full, guaranteed as to ninety percent (90%) of the amount thereof by Ex-Im Bank. It is the intention of all parties hereto that this Agreement and the related Loan Documents shall
not in any manner adversely affect such guarantee of the Ex-Im Bank, and the parties hereto shall enter into any amendment or modification of this Agreement or the other Loan Documents deemed necessary, in the exercise of its reasonable
determination, by the Administrative Agent in order to accommodate the Ex-Im Bank’s ability to provide and maintain such guarantee of the Ex-Im Bank. During the Ex-Im Period, to the extent that any provisions of this Agreement shall conflict
with the provisions of the Borrower Agreement, the provisions of the Borrower Agreement shall control unless such provisions shall have been waived in writing by the Ex-Im Bank. 

ARTICLE IX 

Negative Covenants 
 Until Release Date, the Borrower covenants and agrees with the Lenders that: 

Section 9.01 Financial Covenants. 
 (a) Maximum Consolidated Leverage Ratio. The Borrower will not permit the Consolidated Leverage Ratio, as of the last day of any fiscal quarter of the Borrower beginning with the fiscal quarter of
the Borrower ending on or about September 30, 2012, to exceed 1.75: 1.00. 

  
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 (b) Debt Service Coverage Ratio. The Borrower will not permit the
Debt Service Coverage Ratio, as of the last day of any fiscal quarter of the Borrower beginning with the fiscal quarter of the Borrower ending on or about September 30, 2012, to be less than 1.50: 1.00. 

(c) Consolidated Tangible Net Worth. The Borrower will not, at any time, permit its Consolidated Tangible Net Worth
to be less than the sum of the following: 
 (i) $65,000,000; plus 

(ii) Fifty percent (50)% of the Borrower’s Consolidated Net Income for which Consolidated Net Income is a positive
number measured for each fiscal year of the Borrower beginning with the fiscal year of the Borrower ending on June 30, 2013. 
 Section 9.02 Indebtedness. The Borrower will not, and will not permit any Subsidiary to, incur, create, assume or suffer to exist any Indebtedness, except: 

(a) Indebtedness of the Loan Parties created under the Notes or arising under the Loan Documents or any guaranty of or
suretyship arrangement for the Notes or other Obligations; 
 (b) any Indebtedness of the Borrower or any of its
Subsidiaries existing on the Effective Date and set forth in Schedule 9.02 (other than any Indebtedness of the type described in Section 9.02(c)) and any renewals or refinancing of such Indebtedness (provided that
(i) the aggregate principal amount of such renewed or refinanced Indebtedness shall not exceed the aggregate principal amount of the original Indebtedness outstanding on the Effective Date (less any principal payments and the amount of any
commitment reductions made thereon on or prior to such renewal or refinancing), and (ii) the renewal or refinancing or such Indebtedness shall be on substantially the same or better terms (taken as a whole, as reasonably determined by the
Administrative Agent) as in effect with respect to such Indebtedness on the Effective Date, and shall otherwise be in compliance with this Agreement); 
 (c) guarantees of the Borrower or any other Loan Party in respect of Indebtedness otherwise permitted hereunder of the Borrower or any other Loan Party; 

(d) Indebtedness under any Swap Agreement, provided that (i) such transaction is entered into for risk
management purposes and not for speculative purposes and (ii) both at the time of, and immediately after entering into, such Swap Agreement, no Event of Default has occurred and is continuing; 

(e) Indebtedness of the Borrower or any of its Subsidiaries incurred to finance the acquisition of fixed or capital
assets, whether pursuant to a loan or a Capital Lease provided that both at the time of and immediately after giving effect to the incurrence thereof (i) no Event of Default has occurred and is continuing, (ii) the Loan Parties
shall be in pro forma compliance with the financial covenants set forth in Section 9.01 and (ii) the aggregate amount of all such Indebtedness at any one time outstanding shall not exceed $3,000,000; 

(f) Indebtedness of (i) the Borrower or any other Loan Party owing to the Borrower or any other Loan Party;
(ii) the Borrower or any other Loan Party owing to a Subsidiary which is not a Loan Party, so long as the repayment obligations of the Borrower or any other Loan Party are subordinated to the repayment in full of the Obligations on terms and
conditions that are reasonably satisfactory to the Administrative Agent; (iii) any Wholly-Owned Subsidiary that is a non-Loan Party owed to another Wholly-Owned Subsidiary that is a non-Loan Party; and (iv) a Subsidiary that is not a Loan
Party owing to a Loan Party if otherwise permitted by Section 9.05; 

  
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 (g) Indebtedness of the Borrower or any other Loan Party owing to a Person
other than the Borrower or any of its Subsidiaries which has been subordinated to the repayment in full of the Obligations on terms and conditions that are reasonably satisfactory to the Administrative Agent, provided that the aggregate
outstanding principal amount of such Indebtedness shall not exceed $5,000,000 at any time; 
 (h) Indebtedness
under the Ex-Im Credit Agreement in an aggregate principal amount not to exceed $10,000,000 at any time outstanding; 
 (i) Indebtedness consisting of accounts payable incurred in the ordinary course of business; 
 (j) Indebtedness in respect of the deferred purchase price of property (including earn-out obligations) in an aggregate principal amount not to exceed $2,000,000 at any one time outstanding; 

(k) Indebtedness arising from judgments or decrees not deemed to be an Event of Default under Section 10.01(k)
provided that the Borrower or applicable Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP; and 
 (l) additional Indebtedness of Foreign Subsidiaries not otherwise permitted by this Section 9.02, provided that (i) both at the time of and immediately after giving effect to the
incurrence thereof no Event of Default has occurred and is continuing, and (ii) notwithstanding anything in this Section 9.02 to the contrary, the aggregate amount of Indebtedness of Foreign Subsidiaries permitted under clauses
(a) through (l) of this Section 9.02 shall not exceed $27,000,000 at any one time outstanding. 

Section 9.03 Liens. The Borrower will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any
Lien on any of its Properties (now owned or hereafter acquired), except: 
 (a) Liens created pursuant to the
Loan Documents and securing the payment of any Obligations; 
 (b) Liens on any Property of the Borrower and its
Subsidiaries existing on the Effective Date and set forth on Schedule 9.03 and renewals, refinancings, and extensions thereof on substantially the same or better terms as in effect on the Effective Date and otherwise in compliance with
this Agreement; 
 (c) Excepted Liens; 

(d) Liens securing Indebtedness permitted under Section 9.02(e); provided that (i) such Liens do
not at any time encumber any property other than the property financed by such debt and (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of
acquisition; 
 (e) Liens on assets not constituting Collateral securing Indebtedness of Foreign Subsidiaries
permitted by Section 9.02; and 

  
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 (f) during the Ex-Im Period, so long as the Secured Parties and the Ex-Im
Lender are subject to the terms of the Intercreditor Agreement, Liens in favor of the Ex-Im Lender to secure the obligations under the Ex-Im Credit Agreement; 
 provided, however, that during the Ex-Im Period, any Liens described in clause (a) through clause (e) shall only be permitted to the extent such Liens are not prohibited by the Borrower
Agreement or to the extent such Liens are otherwise approved in writing by the Ex-Im Bank. 
 Section 9.04 Restricted
Payments. The Borrower will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, return any capital to its stockholders, members or partners or make any
distribution of its Property to its Equity Interest holders, except that 
 (a) each Subsidiary may pay or make
cash Restricted Payments to any Loan Party or any other Subsidiary that is a direct owner of any of its Equity Interests; 
 (b) each Loan Party and Subsidiary may declare and make Restricted Payments to any other holder of any of its Equity Interests payable in such Equity Interests, provided that the issuance of such
Equity Interests does not violate the terms of this Agreement; 
 (c) each Loan Party and Subsidiary may declare
and make Restricted Payments to any other holder of any of its Equity Interests but only to the extent necessary to enable PMFG and its Domestic Subsidiaries to pay federal and state income taxes attributable to income of the applicable recipient
thereof; 
 (d) each Loan Party and Subsidiary may declare and make Restricted Payments to any other holder of
any of its Equity Interests so long as (i) no Default or Event of Default has occurred and is continuing both before and after giving effect to the making of such Restricted Payments, and (ii) the Loan Parties are in pro forma compliance
with the financial covenants set forth in Section 9.01 after giving effect to such Restricted Payments; and 
 (e) each Subsidiary that is not a Wholly-Owned Subsidiary may make Restricted Payments to any holder of any of its Equity Interests that is not a Loan Party or a Subsidiary in accordance with its
organizational and equity holder agreements. 
 Section 9.05 Investments, Loans and Advances. The Borrower will not, and
will not permit any Subsidiary to, make or permit to remain outstanding any Investments in or to any Person, except that the foregoing restriction shall not apply to: 

(a) Investments which are disclosed to the Lenders in Schedule 9.05; 

(b) Investments held by the Borrower or any Subsidiary in the form of Permitted Investments; 

(c) Investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and
disputes with, customers and suppliers, in each case in the ordinary course of business; 
 (d) provided
that no Default or Event of Default has occurred and is continuing at the time such Investment is made, Investments as Capital Expenditures permitted under Section 9.06; 

  
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 (e) provided that no Default or Event of Default has occurred and is
continuing at the time such Investment is made, (i) Investments of any Subsidiary in the Borrower or any other Loan Party, (ii) Investments by the Borrower in any other Loan Party and (iii) Investments by the Borrower in any
Subsidiary that is not a Loan Party in the form of a Letter of Credit issued pursuant to this Agreement upon the request of the Borrower for the account of such Subsidiary, provided that the aggregate undrawn amount of such Letters of Credit which
are not Ordinary Business Purpose Letters of Credit shall not exceed $3,000,000 at any time; 
 (f) Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from
financially troubled Account Debtors to the extent reasonably necessary in order to prevent or limit loss; 
 (g)
provided that no Default or Event of Default has occurred and is continuing at the time such Permitted Acquisition or Investment is made, (i) Permitted Acquisitions in which the Permitted Acquisition Consideration does not exceed in the
aggregate (A) $5,000,000 during the Borrower’s 2013 fiscal year or (B) $4,000,000 during any subsequent fiscal year of the Borrower, and (ii) Investments by Loan Parties in Subsidiaries that are not Loan Parties, the proceeds of
which are solely used by any such Subsidiaries to make a Permitted Acquisition of Flowvision A/S and Flowvision Shanghai Environmental Co. Ltd., provided that the aggregate amount of such Investments shall not exceed the dollar limitations
set forth in subclause (i) of this clause (g) and such Permitted Acquisition is made in compliance with subclause (i) of this clause (g); 

(h) Investments in respect of the Swap Agreements required pursuant to Section 8.11, and provided that
no Default or Event of Default has occurred and is continuing at the time such Investment is entered into and that such transactions are entered into for risk management purposes and not for speculative purposes, Investments in respect of other Swap
Agreements; 
 (i) provided that no Default or Event of Default has occurred and is continuing at the time
of such Investment, Investments after the Effective Date (directly or indirectly through Propulsys) in Peerless Manufacturing (Zhenjiang) Co. Ltd. for the purpose of building a manufacturing plant in Zhenjiang, China, in an aggregate amount not to
exceed $10,000,000; 
 (j) provided that no Default or Event of Default has occurred and is continuing at
the time such Investment is made, Investments in CEFCO Global Clean Energy, LLC in an aggregate amount not to exceed $10,000,000; 
 (k) Investments by any Wholly-Owned Subsidiary that is not a Loan Party in any other Wholly-Owned Subsidiary that is not a Loan Party; 

(l) loans and advances not to exceed in the aggregate $500,000 at any one time outstanding to employees, officers and
directors of any Loan Party for moving, entertainment, travel and other similar expenses in the ordinary course of business; and 
 (m) other Investments not described above, provided that both at the time of and immediately after giving effect to any such Investment (i) no Event of Default shall have occurred and be
continuing or shall result from the making of such Investment and (ii) the aggregate amount of all such Investments shall not exceed $1,000,000 at any time outstanding. 
 In valuing any Investments for the purpose of applying the limitations set forth in this Section 9.05 (except as otherwise proved herein), such Investments shall be taken at the original cost
thereof, without allowance for any subsequent write-offs or appreciation or depreciation, but less any amount repaid or recovered on account of capital or principal. 

  
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 Section 9.06 Capital Expenditures. During each fiscal year of the Borrower, the
Borrower will not, and will not permit any Subsidiary to, make or become legally obligated to make any Capital Expenditure, except, provided that no Default or Event of Default has occurred and is continuing at the time such Capital
Expenditure is made, for 
 (a) Capital Expenditures made in connection with the Denton Property; 

(b) Capital Expenditures made by Peerless Manufacturing (Zhenjiang) Co. Ltd. for the building of a manufacturing plant in
Zhenjiang, China not to exceed $10,000,000; 
 (c) reinvestments of Net Cash Proceeds from Dispositions and Net
Recovery Proceeds of a Recovery Event, to the extent not subject to mandatory prepayment of the Loans pursuant to Section 3.04(b); and 
 (d) other Capital Expenditures in the ordinary course of business not otherwise permitted by this Section 9.06 not to exceed $3,000,000 in any fiscal year of the Borrower (the
“Capital Expenditure Threshold”) plus any unused portion of the Capital Expenditure Threshold for the fiscal year of the Borrower ending immediately prior to the applicable fiscal year, provided that any amounts carried
forward shall be applied to the last Capital Expenditures made in the applicable fiscal year and shall expire at the end of the applicable fiscal year. 
 Section 9.07 Change in Nature of Business or Organizational Structure. The Borrower will not, and will not permit any Subsidiary to allow any material change to be made in the nature of its
business as currently conducted by it, except for the addition of business activities reasonably related or incidental thereto. 

Section 9.08 Dispositions. The Borrower will not, and will not permit any Subsidiary to, make any Disposition or enter into any
agreement to make any Disposition, except: 
 (a) Dispositions of obsolete, damaged, uneconomic or worn-out
machinery, parts, property or equipment no longer used or useful in the conduct of the applicable Borrower’s or Subsidiary’s business, and Dispositions of intellectual property that is no longer material to the applicable Borrower’s
or Subsidiary’s business; 
 (b) Dispositions of Inventory in the ordinary course of business; 

(c) Dispositions of Permitted Investments and other cash equivalents in the ordinary course of business; 

(d) Dispositions of property by the Borrower or any Subsidiary to the Borrower or to a Wholly-Owned Subsidiary,
provided that if the transferor of such property is the Borrower or a Guarantor, the transferee thereof must either be the Borrower or a Guarantor, and provided further that the applicable Borrower or Guarantor takes such actions as
the Administrative Agent may reasonably request to ensure the perfection and priority of the Liens of the Administrative Agent over such transferred assets; 
 (e) Dispositions permitted pursuant to Section 9.05 or Section 9.10; 

  
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 (f) Dispositions relating to an involuntary loss, damage or destruction of
property, an involuntary condemnation, seizure or taking by exercise of the power of eminent domain or otherwise, or confiscation or requisition of the use of property, provided that, in each case, the mandatory prepayments, if any, required
in connection with such Disposition pursuant to Section 3.04(b) are made; 
 (g) so long as no
Default or Event of Default exists immediately before and after giving effect to any such transactions, Dispositions of equipment to the extent that (i) such equipment is exchanged for credit against the purchase price of similar replacement
equipment or (ii) the Net Cash Proceeds of such Disposition are promptly applied to the purchase price of such replacement equipment; and 
 (h) so long as no Default or Event of Default exists immediately before and after giving effect to any such transactions, Dispositions not otherwise permitted in this Section 9.08;
provided that such Disposition is for fair market value and the aggregate book value of all property Disposed of in reliance on this clause (h) in any fiscal year of the Borrower shall not exceed $500,000; 

provided, however, that any Disposition pursuant to clauses (a) through (h) shall (i) be for fair market value and
(ii) during the Ex-Im Period, shall only be permitted to the extent not prohibited by the Borrower Agreement or to the extent such Disposition is otherwise approved in writing by the Ex-Im Bank. 

Notwithstanding anything to the contrary herein, neither the Borrower nor any Subsidiary shall (1) make any Disposition of Equity
Interests of a Subsidiary owned by it to any Person other than the Borrower or its Subsidiaries, or (2) Dispose of any of the Denton Property that constitutes real property (except for intercompany transfers otherwise permitted by this
Section 9.08 so long as the Administrative Agent continues to have a first priority Lien on such real property). 

Section 9.09 Proceeds of Notes. The Borrower will not permit the proceeds of the Notes to be used for any purpose other than those
permitted by Section 7.17. Neither the Borrower nor any Person acting on behalf of the Borrower has taken or will take any action which might cause any of the Loan Documents to violate Regulations T, U or X or any other regulation
of the Board or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect. If requested by the Administrative Agent, the Borrower
will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the
Board, as the case may be. 
 Section 9.10 Mergers, Etc. Neither the Borrower nor any of its Subsidiaries will merge into
or with or consolidate with any other Person, or sell, lease or otherwise dispose of (whether in one transaction or in a series of transactions) all or substantially all of its Property to any other Person, or liquidate, wind up or dissolve, except
that 
 (a) any Wholly-Owned Subsidiary may merge with any other Wholly-Owned Subsidiary; 

(b) the Borrower may merge with any Wholly-Owned Subsidiary so long as the Borrower is the survivor; 

  
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 (c) any Subsidiary of the Borrower may liquidate or dissolve into the
Borrower or a Guarantor or any other Subsidiary that is its direct equity holder if the Borrower determines in good faith that such liquidation or dissolution is in the best interest of the Borrower, so long as no Default or Event of Default has
occurred and is continuing or would result therefrom; 
 provided, however, that during the Ex-Im Period, any such merger, liquidation or
dissolution pursuant to clauses (b) or (c) shall only be permitted to the extent not prohibited by the Borrower Agreement or to the extent such merger, liquidation or dissolution is otherwise approved in writing by the Ex-Im Bank.

 Section 9.11 Environmental Matters. The Borrower will not, and will not permit any Subsidiary to, cause or permit any
of its Property to be in violation of any Environmental Laws where such violations could reasonably be expected to have a Material Adverse Effect. 
 Section 9.12 Transactions with Affiliates. The Borrower will not, and will not permit any Subsidiary to, enter into any transaction, including, without limitation, any purchase, sale, lease or
exchange of Property or the rendering of any service, with any Affiliate unless such transactions are upon fair and reasonable terms no less favorable to it than it would obtain in a comparable arm’s length transaction with a Person not an
Affiliate, provided that this Section 9.12 shall not apply to (or prohibit to the extent otherwise permitted under this Agreement) (a) transactions between or among Loan Parties not involving any other Affiliate,
(b) transactions between or among Subsidiaries of the Borrower who are not Loan Parties not involving any other Affiliate, (c) Investments permitted under Section 9.05(l), or (d) reasonable and customary director, officer
and employee fees, compensation, severance and other benefits (including retirement, health, stock option and other benefit plans) and indemnification arrangements. 
 Section 9.13 Subsidiaries. The Borrower will not, and will not permit any Subsidiary to, create or acquire any additional Subsidiary unless the Borrower gives written notice to the Administrative
Agent of such creation or acquisition and complies with Section 8.13. The Borrower shall not, and shall not permit any Subsidiary to, sell, assign or otherwise dispose of any Equity Interests in any Subsidiary except in compliance with
Section 9.08 and Section 9.10. 
 Section 9.14 Fiscal Year and Accounting Methods. The Borrower
will not, and will not permit any Subsidiary to, change its fiscal year or its method of accounting other than (a) changes as required by GAAP or (b) changes required by applicable Law. 

Section 9.15 Negative Pledge Agreements; Dividend Restrictions. The Borrower will not, and will not permit any Subsidiary to,
create, incur, assume or suffer to exist any contract, agreement or understanding which in any way (a) prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its Property in favor of the Administrative
Agent and the Lenders or (b) restricts any Subsidiary from paying dividends or making distributions to the Borrower or any Guarantor, or (c) which requires the consent of or notice to other Persons in connection therewith, other than
(i) with respect to the preceding clauses (a), (b) and (c), this Agreement, the Collateral Documents, the Ex-Im Credit Agreement, or Capital Leases creating Liens permitted by Section 9.03, and
(ii) further with respect to the preceding clause (a), restrictions on Liens on assets that are not Collateral contained in documentation governing Indebtedness of Foreign Subsidiaries permitted pursuant to Section 9.02.

 Section 9.16 Sale-Leaseback Transactions. The Borrower will not, and will not permit any Subsidiary to, enter into any
arrangement with any Person providing for the leasing by a Loan Party of real or personal Property which has been or is to be sold or transferred by such Loan Party to such Person or to any other Person to whom funds have been or are to be advanced
by such Person on the security of such property or rental obligations of such Loan Party, as the case may be. 

  
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 Section 9.17 Management Fees. The Borrower will not, and will not permit any
Subsidiary to, pay or otherwise advance, directly or indirectly, any management, consulting or other fees to an Affiliate, except as permitted by Section 9.12. 
 Section 9.18 Issuance of Equity. Peerless will not, and the Borrower will not permit any of its Subsidiaries, to issue Equity Interests except as permitted by Section 9.04. 

Section 9.19 Construction Negative Covenants. Each of the covenants contained in Section E of Annex II
shall apply. 
 ARTICLE X 
 Events of Default; Remedies 
 Section 10.01 Events of Default. The
occurrence or existence of any one or more of the following events shall constitute an “Event of Default”: 
 (a) the Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable (other than LC
Disbursements which are repaid through an ABR Borrowing as permitted by Section 2.09(e) hereof), whether at the due date thereof or at a date fixed for prepayment thereof, by acceleration or otherwise. 

(b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred
to in Section 10.01(a)) payable under any Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of three (3) Business Days. 

(c) any representation or warranty made or deemed made by or on behalf of the Borrower or any Subsidiary in or in
connection with any Loan Document or any amendment or modification of any Loan Document or waiver under such Loan Document, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Loan
Document or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made. 
 (d) the Borrower or any Subsidiary shall fail to observe or perform any covenant, condition or agreement contained in Section 8.02, Section 8.03, Section 8.13,
Section 8.15, Section D(d) of Annex II, Section 8.16 or in Article IX. 
 (e) the Borrower or any Subsidiary shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than those specified in Section 10.01(a),
Section 10.01(b) or Section 10.01(d)) or any other Loan Document, and such failure shall continue unremedied for a period of thirty (30) days after the earlier to occur of (i) notice thereof from the Administrative
Agent to the Borrower (which notice will be given at the request of any Lender) or (ii) a Responsible Officer of the Borrower or such Subsidiary otherwise becoming aware of such default. 

(f) the Borrower or any Subsidiary shall fail to make any payment (whether of principal or interest and regardless of
amount) in respect of any Material Indebtedness, when and as the same shall become due and payable (after giving effect to any applicable notice and cure period). 

  
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 (g) any event or condition occurs that results in any Material Indebtedness
(other than Indebtedness under the Ex-Im Credit Agreement) becoming due prior to its scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness
(other than Indebtedness under the Ex-Im Credit Agreement) or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the Redemption thereof or any offer to Redeem to be made in respect thereof,
prior to its scheduled maturity or require the Borrower or any Subsidiary to make an offer in respect thereof. 

(h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation,
reorganization or other relief in respect of the Borrower or any Subsidiary or its debts, or of a substantial part of its assets, under any Debtor Relief Laws whether Federal, state or foreign, or similar Law, now or hereafter in effect or
(ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue
undismissed for thirty (30) days or an order or decree approving or ordering any of the foregoing shall be entered. 
 (i) the Borrower or any Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Debtor Relief Law, whether Federal,
state or foreign, or similar Law, now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in Section 10.01(h), (iii) apply for
or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of
a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing. 

(j) the Borrower or any Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts
as they become due. 
 (k) (i) one or more judgments for the payment of money in an aggregate amount in
excess of $1,500,000 (to the extent not covered by independent third party insurance as to which the insurer has been notified of the potential claim does not dispute coverage and is not subject to an insolvency proceeding) or (ii) any one or
more non-monetary judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, shall be rendered against the Borrower, any Subsidiary or any combination thereof and the same shall remain
undischarged or unbonded for a period of thirty (30) consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any
Subsidiary to enforce any such judgment. 
 (l) the Loan Documents after delivery thereof shall for any reason,
except to the extent permitted by the terms thereof, cease to be in full force and effect and valid, binding and enforceable in accordance with their terms against the Borrower or a Guarantor party thereto or shall be repudiated by any of them, or
cease to create a valid and perfected Lien of the priority required thereby on any of the collateral purported to be covered thereby, except to the extent permitted by the terms of this Agreement, or the Borrower or any Subsidiary or any of their
Affiliates shall so state in writing. 

  
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 (m) an ERISA Event shall have occurred that, in the reasonable opinion of
the Required Lenders, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding $1,500,000 in any fiscal year of the
Borrower. 
 (n) there occurs under any Swap Agreement an early Termination Date (as defined in such Swap
Agreement) resulting from (i) any event of default under such Swap Agreement to which the Borrower or any Subsidiary is the Defaulting Party (as defined in such Swap Agreement), or (ii) any Termination Event (as so defined) under such Swap
Agreement as to which the Borrower or any Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof constitutes Material Indebtedness. 

(o) a Change in Control shall occur. 

(p) with respect to the construction of the Improvements, (i) there is a cessation of construction of the
Improvements prior to completion for a continuous period of more than sixty (60) days (except as caused by an event of Force Majeure, for which a longer delay may be permitted); or (ii) the construction of any of the Improvements in
accordance with the Loan Documents is prohibited, enjoined or delayed for a continuous period of more than thirty (30) days; or (iii) utilities or other public services necessary for the full utilization of the Denton Property and
Improvements are curtailed for a continuous period of more than thirty (30) days. In the case of an event of Force Majeure, then the time period provided above for cessation of construction may be extended on a day for day basis equal to the
length of such event of Force Majeure, but in no event more than one hundred twenty (120) days and in no event shall the time for completion of the Improvements be extended beyond the Term B Loan Maturity Date 

(q) at any time during the Ex-Im Period, there occurs any “Event of Default” as defined in the Ex-Im Credit
Agreement. 
 Section 10.02 Remedies. 

(a) In the case of an Event of Default other than one described in Section 10.01(h),
Section 10.01(i) or Section 10.01(j), at any time thereafter during the continuance of such Event of Default, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, by notice to
the Borrower, take either or both of the following actions, at the same or different times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Notes and the Loans then outstanding
to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together
with accrued interest thereon and all fees and other obligations of the Borrower and the Guarantors accrued hereunder and under the Notes and the other Loan Documents (including, without limitation, the payment of cash collateral to secure the LC
Exposure as provided in Section 2.09(j)), shall become due and payable immediately, without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other notice of any kind, all of which are hereby waived
by the Borrower and each Guarantor; and in case of an Event of Default described in Section 10.01(h), Section 10.01(i) or Section 10.01(j), the Commitments shall automatically terminate and the Notes and the
principal of the Loans then outstanding, together with accrued interest thereon and all fees and the other obligations of the Borrower and the Guarantors accrued hereunder and under the Notes and the other Loan Documents (including, without
limitation, the payment of cash collateral to secure the LC 

  
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 Exposure as provided in Section 2.09(j)), shall automatically become due and
payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower and each Guarantor. 
 (b) The Administrative Agent shall have the right, upon the happening and during the continuance of an Event of Default, to (i) enter into possession of the Denton Property and perform any and all
work and labor which the Administrative Agent deems appropriate to repair, restore, or secure the Improvements or to partially or wholly complete the Improvements substantially in accordance with the Construction Plans (as modified as deemed
appropriate by the Administrative Agent), and to make any other improvements needed in order to accomplish any of the remedies available to the Administrative Agent; and (ii) exercise the rights as attorney-in-fact as provided below. The
Borrower hereby constitutes and appoints (which appointment is coupled with an interest and is therefore irrevocable) the Administrative Agent as the Borrower’s true and lawful attorney in fact, with full power of substitution, and hereby
empowers the Administrative Agent, acting as the Borrower’s attorney in fact, at any time after the occurrence and during the continuance of an Event of Default, as follows (provided the Administrative Agent shall have no obligation to
take any action as the Borrower’s attorney-in-fact): (A) to use any funds of the Borrower, including any balance which may be held in any escrow account to which the Borrower is then lawfully and contractually entitled to withdraw, the
Advance Account funds, the Special Account funds, and the Term B Loan proceeds which may remain unadvanced hereunder, for the purpose of constructing all or any portion of the Improvements in the manner called for by the Construction Plans (as
modified as deemed appropriate by the Administrative Agent, in the exercise of its reasonable discretion); (B) to make such additions and changes and corrections in the Construction Plans which shall be necessary or desirable to construct all
or any portion of the Improvements; (C) to continue, amend, or terminate all or any existing Construction Contract, Design Services Contract, or Denton Property Contract; (D) to employ the Contractors, other contractors, subcontractors,
agents, the Design Professionals, other design professionals, and inspectors as shall be necessary or desirable for said purposes; (E) to pay, settle, or compromise all existing bills and claims which are or may be Liens against the Denton
Property, or may be necessary or desirable for constructing all or any portion of the Improvements or for the clearing of title to the Denton Property, or may exist or arise with respect to any Construction Contract, Design Services Contract, or
Denton Property Contract; (F) to execute all applications, certificates, and other documents in the name of the Borrower which may be required for the construction of the Improvements or by any Construction Contract, Design Services Contract,
or Denton Property Contract; (G) to cure any default and to perform any obligation of the Borrower under any Construction Contract, Design Services Contract, or Denton Property Contract; (H) to do any and every act with respect to the
Denton Property (including the construction of the Improvements) which the Borrower could do in the Borrower’s own behalf; and (I) to prosecute and defend all actions or proceedings in connection with the Denton Property and to take such
action and require such performance as is deemed necessary or desirable. The power of attorney under this Section 10.02(b) shall terminate upon payment of the Obligations in full or upon foreclosure (or conveyance in lieu of foreclosure)
of all of the Denton Property. The Administrative Agent shall incur no liability if any action taken by it as attorney-in-fact as permitted above shall prove to be inadequate, invalid, or in poor judgment, so long as the Administrative Agent did not
act with willful misconduct or gross negligence. 
 (c) In the case of the occurrence and continuance of an Event
of Default, the Administrative Agent and the Lenders will have all other rights and remedies available at Law and equity and under any other Loan Document. 
 (d) All rights and remedies of the Administrative Agent are cumulative. 

  
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 (e) After the earliest to occur of (w) the exercise of remedies
provided for in Section 10.02(a), (x) the maturity of all of the Loans, (y) all of the Loans automatically becoming due and payable, or (z) the LC Exposure has been required to be Cash Collateralized, any amounts received
on account of the Obligations shall be applied by the Administrative Agent in the following order: 
 (i)
First, to payment or reimbursement of that portion of the Obligations constituting fees, expenses, indemnities and principal and accrued interest on any Protective Advance payable to the Administrative Agent in its capacity as such, the
Issuing Bank in its capacity as such and the Swingline Lender in its capacity as such (ratably among the Administrative Agent, the Issuing Bank and Swingline Lender in proportion to the respective amounts described in this clause
First); 
 (ii) Second, pro rata to payment or reimbursement of that portion of the
Obligations constituting fees, expenses and indemnities payable to the Lenders; 
 (iii) Third, pro rata
to payment of accrued interest on the Loans; 
 (iv) Fourth, pro rata to payment of principal outstanding
on the Loans, Obligations then owing to any Swap Lender, and Obligations then owed to any Treasury Management Party; 
 (v) Fifth, pro rata to any other Obligations and to serve as cash collateral to be held by the Administrative Agent for the account of the Issuing Bank to secure the LC Exposure; and 

(vi) Sixth, any excess, after all of the Obligations shall have been indefeasibly paid in full in cash, shall be
paid to the Borrower or as otherwise required by any Governmental Requirement. 
 Amounts used to Cash
Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after
all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 

Notwithstanding the foregoing, Obligations owing to any Swap Lender and Obligations arising under Secured Treasury
Management Agreements shall be excluded from the application described above if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the
applicable Swap Lender or Treasury Management Party, as the case may be. Each Swap Lender and Treasury Management Party not a party to this Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed
to have (i) acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article XI hereof for itself and its Affiliates as if a “Lender” party hereto and (ii) after the Ex-Im Effective
Date, accepted the terms of the Intercreditor Agreement. Notwithstanding anything in the Loan Documents to the contrary and during the Ex-Im Period (and for so long as the Intercreditor Agreement is in effect), all payments and proceeds received
from Collateral securing the Obligations and the obligations under the Ex-Im Credit Agreement, or pursuant to any Collateral Document, shall first be distributed in accordance with the terms of the Intercreditor Agreement. 

  
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 ARTICLE XI 
 The Agents 
 Section 11.01 Appointment; Powers. 

(a) Each of the Lenders and the Issuing Bank hereby irrevocably appoints Citibank to act on its behalf as the
Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof,
together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the Issuing Bank, and neither the Borrower nor any other Loan Party
shall have rights as a third-party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative
Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an
administrative relationship between contracting parties. 
 (b) The Administrative Agent shall also act as the
“collateral agent” under the Loan Documents, and each of the Lenders (including in its capacities as a potential Swap Lender and/or Treasury Management Party) and the Issuing Bank hereby irrevocably appoints and authorizes the
Administrative Agent to act as the agent of such Lender and the Issuing Bank for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such
powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as “collateral agent” and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to
Section 11.05 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies thereunder at the direction of the Administrative
Agent, shall be entitled to the benefits of all provisions of this Article XI and Article XII (including Section 12.03(c), as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent”
under the Loan Documents) as if set forth in full herein with respect thereto. 
 Section 11.02 Rights as a Lender. The
Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent, and the term “Lender” or
“Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits
from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for, and generally engage in any kind of business with, the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the
Administrative Agent hereunder and without any duty to account therefor to the Lenders. 
 Section 11.03 Exculpatory
Provisions. 
 (a) The Administrative Agent shall not have any duties or obligations except those expressly
set forth herein and in the other Loan Documents, and the duties hereunder shall be solely administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent: 

  
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 (i) shall not be subject to any fiduciary or other implied duties,
regardless of whether a Default has occurred and is continuing; 
 (ii) shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the
Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents); provided that the Administrative Agent will not be required to take any action that, in its opinion
or the opinion of its counsel, may expose the Administrative Agent, or any of its Affiliates to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt, any action that may be in violation of the
automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and 

(iii) shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and
shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.

 (b) The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the
consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in
Section 12.02 and Section 10.02)), or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Administrative Agent
shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given to the Administrative Agent in writing by the Borrower, a Lender or the Issuing Bank. 

(c) The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any
statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or
therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness
of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Collateral Documents, (v) the value or sufficiency of any of the
Collateral, or (vi) the satisfaction of any condition set forth in Article VI or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

Section 11.04 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any
liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and
to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any
liability for relying thereon. In determining compliance with any condition 

  
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hereunder to the making of a Loan or an Advance, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the
Issuing Bank, the Administrative Agent may presume that such condition is satisfactory to such Lender or the Issuing Bank unless an officer of the Administrative Agent responsible for the transactions contemplated hereby shall have received notice
to the contrary from such Lender or the Issuing Bank prior to the making of such Loan or such Advance or the issuance of such Letter of Credit, and in the case of a Borrowing, such Lender shall not have made available to the Administrative Agent
such Lender’s ratable portion of such Borrowing. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower or any other Loan Party), independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

Section 11.05 Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and
powers hereunder or under any other Loan Document by or through any one or more sub agents appointed by the Administrative Agent. The Administrative Agent and any such sub agent may perform any and all of its duties and exercise its rights and
powers by or through their respective Related Parties. The exculpatory provisions of this Article XI shall apply to any such sub agent and to the Related Parties of the Administrative Agent and any such sub agent, and shall apply to their
respective activities in connection with the syndication of the Loans as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a
court of competent jurisdiction determines in a final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub agents. 

Section 11.06 Resignation of Administrative Agent and/or Issuing Bank. 

(a) The Administrative Agent may at any time give notice of its resignation to the Lenders, the Issuing Bank and the
Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the consent of the Borrower so long as no Default then exists (such consent not to be unreasonably withheld or delayed), to appoint a
successor, which shall be a bank with an office in the U.S., or an Affiliate of any such bank with an office in the U.S. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty
(30) days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent meeting the qualifications set
forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice
and (i) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (ii) all payments, communications and determinations provided to be made by, to or through the
Administrative Agent shall instead be made by or to each Lender and the Issuing Bank directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section 11.06(a). Upon the
acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent (except for any
indemnity, fees or other payments owed to the retiring Administrative Agent), and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged
therefrom as provided above in this Section 11.06(a)). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such
successor. After the retiring Administrative 

  
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Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article XI and Section 12.03 shall continue in effect for the benefit of such
retiring Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. 

(b) Any resignation by Citibank as Administrative Agent pursuant to this Section 11.06 shall also constitute
its resignation as Issuing Bank and Swingline Lender. After the resignation of the Issuing Bank hereunder, the retiring Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this
Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such resignation, but shall not be required to issue additional Letters of Credit or to extend, renew or increase any existing Letter of Credit,
including, without limitation, any Letter of Credit with an auto-extend feature (for the avoidance of doubt, the retiring Issuing Bank is authorized to notify any and each beneficiary of each Letter of Credit (in accordance with the terms of such
Letter of Credit) that any such Letter of Credit will not be renewed, extended or increased, automatically or otherwise). Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (i) such successor shall succeed
to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing Bank (except for any indemnity, fees or other payments owed to the retiring Issuing Bank), (ii) the retiring Issuing Bank shall be discharged
from all of its respective duties and obligations hereunder or under the other Loan Documents, and (iii) the successor Issuing Bank shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such
succession or make other arrangements satisfactory to the retiring Issuing Bank to effectively assume the obligations of the retiring Issuing Bank with respect to such Letters of Credit. 

(c) In addition to the foregoing, if a Lender becomes, and during the period it remains, a Defaulting Lender, the Issuing
Bank and/or Swingline Lender may, upon prior written notice to the Borrower and the Administrative Agent, resign as Issuing Bank or Swingline Lender, effective at the close of business on a date specified in such notice (which date may not be less
than thirty (30) days after the date of such notice); provided that such resignation by the Issuing Bank will have no effect on the validity or enforceability of any Letter of Credit then outstanding or on the obligations of the Borrower
or any Lender under this Agreement with respect to any such outstanding Letter of Credit or otherwise to the Issuing Bank; and provided, further, that such resignation by the Swingline Lender will have no effect on its rights in respect of
any outstanding Swingline Loans or on the obligations of the Borrower or any Lender under this Agreement with respect to any such outstanding Swingline Loan. 
 Section 11.07 Non-Reliance on Administrative Agent and Other Lenders. Each Lender and the Issuing Bank acknowledges that it has, independently and without reliance upon the Administrative Agent or
any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the Issuing Bank also acknowledges
that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own
decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

Section 11.08 No Other Duties, etc. Anything herein to the contrary notwithstanding, none of the Bookrunners, Arrangers,
Documentation Agents or Syndication Agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan 

  
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Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the Issuing Bank hereunder. No Bookrunner, Arranger, Documentation Agent or Syndication Agent listed on
the cover page hereof shall have or be deemed to have any fiduciary relationship with any Lender. 
 Section 11.09
Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal
of any Loan or LC Exposure shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered (but not
obligated) by intervention in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole amount
of the principal and interest owing and unpaid in respect of the Loans, LC Exposure and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the
Swingline Lender, the Issuing Bank and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Swingline Lender, the Issuing Bank and the Administrative Agent and their
respective agents and counsel and all other amounts due the Lenders, the Swingline Lender, the Issuing Bank and the Administrative Agent under Section 3.05 and Section 12.03) allowed in such judicial proceeding; and

 (b) to collect and receive any monies or other property payable or deliverable on any such claims and to
distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial
proceeding is hereby authorized by each Lender and the Issuing Bank to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders and the
Issuing Bank, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under
Section 12.03. 
 Section 11.10 Collateral and Guaranty Matters. 

(a) Each of Lenders and the other Secured Parties (including each Lender in its capacity as a potential Swap Lender and/or
Treasury Management Party), and the Issuing Bank, irrevocably authorize the Administrative Agent, at its option and in its discretion (and the Administrative Agent hereby agrees in the case of clause (i) and (iii) below),

 (i) to release any Lien on any property granted to or held by the Administrative Agent under any Loan Document
(x) upon the Release Date, (y) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted under the Loan Documents, or (z) subject to
Section 12.02, if approved, authorized or ratified in writing by the Required Lenders; 
 (ii) to
subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 9.03; and 

  
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 (iii) to release any Guarantor from its obligations under the Guaranty
Agreement if such Person ceases to be a Subsidiary as a result of a transaction permitted under the Loan Documents. 
 Upon
request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from
its obligations under the Guaranty Agreement pursuant to this Article XI. In each case as specified in this Section 11.10, the Administrative Agent will, at the Borrower’s expense, execute and deliver to the applicable Loan
Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents or to subordinate its interest in such item, or to
release such Guarantor from its obligations under the Guaranty Agreement, in each case in accordance with the terms of the Loan Documents and this Section 11.10. 

(b) The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation
or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall
the Administrative Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral. 
 Section 11.11 Secured Swap Agreements and Secured Treasury Management Agreements. No Swap Lender or Treasury Management Party that obtains the benefits of Section 10.02(c), any Guaranty
Agreement or any Collateral by virtue of the provisions hereof or of any Guaranty Agreement or any Collateral Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan
Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any
other provision of this Article XI to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Secured Swap
Agreements and/or Secured Treasury Management Agreements unless the Administrative Agent has received written notice of such Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Swap
Lender or Treasury Management Party, as the case may be. 
 Section 11.12 Intercreditor Agreement. 

(a) Each Lender acknowledges that because Collateral will be granted to secure both the Secured Parties under this
Agreement and Ex-Im Bank and the Ex-Im Lender under the Ex-Im Credit Agreement, it is necessary for the Secured Parties under this Agreement and the Ex-Im Lender to enter into an Intercreditor Agreement and/or other arrangements after the Effective
Date and otherwise from time to time, to provide for the respective Lien priorities with respect to the Collateral securing the Obligations and the obligations under the Ex-Im Credit Agreement. 

(b) Subject to the consent of the Ex-Im Bank of the following lien priorities, the Intercreditor Agreement shall provide
that during the Ex-Im Period (i) the Domestic First-Priority Collateral shall secure the Obligations on a first Lien priority basis and the Domestic First-Priority Collateral (other than to the extent permitted by the Ex-Im Bank in writing, the
Pledged Equity Interests and the Mortgaged Properties) shall secure the obligations under the Ex-Im 

  
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Credit Agreement on a second Lien priority basis, (ii) the Ex-Im Export-Related Collateral shall secure the obligations under the Ex-Im Credit Agreement on a first Lien priority basis and
the Obligations on a second Lien priority basis and (iii) only to the extent required by the Ex-Im Bank, the Ex-Im Other Collateral (other than, to the extent permitted by the Ex-Im Bank in writing, the Pledged Equity Interests and the
Mortgaged Properties) shall secure both the Obligations and the obligations under the Ex-Im Credit Agreement on a first Lien pari passu basis. Each Lender and each other Security Party hereby authorize the Administrative Agent to enter into the
Intercreditor Agreement on behalf of the Lenders and the other Security Parties on or prior to the Ex-Im Effective Date in form and substance reasonably acceptable to the Administrative Agent provided that the Lien priorities described therein are
substantially similar to those described in this Section 11.12(b). 
 (c) Notwithstanding the
provisions in this Agreement and/or any other Loan Document, during the Ex-Im Period, each Lender and each Secured Party agrees to and agrees to be bound by each of the terms and provisions of the Intercreditor Agreement and any other proposed
intercreditor agreement or similar agreement from time to time and authorizes the Administrative Agent to enter into any such agreement on its behalf. 
 (d) Each Lender and each Secured Party agrees and acknowledges that any authority, right or action granted to the Administrative Agent by the Lenders and/or the Secured Parties hereunder, or under any
other Loan Document, may be exercised by any “collateral agent”, as if such authority, right or action was granted to the “collateral agent” directly by each Lender hereunder. 

(e) During the Ex-Im Period, each Lender and each Secured Party agrees to comply with, and perform its obligations under,
the terms and provisions of the Intercreditor Agreement and other intercreditor agreements and arrangements. 
 Notwithstanding anything herein
to the contrary, so long as the Intercreditor Agreement or any other intercreditor agreement is in full force and effect: 
 (i) the Administrative Agent and each Lender each hereby delegates to the “collateral agent” the power and authority in such Person’s exclusive and sole discretion, to exercise any and all
discretion granted herein and in the other Loan Documents to the Administrative Agent in connection with the Collateral and the Collateral Documents, and 
 (ii) any item, document, certificate or monies delivered by the Loan Parties to the “collateral agent” in connection with the Collateral, Collateral Documents or as required in this Agreement or
in any other Loan Document, shall constitute delivery to the Administrative Agent. 
 Each Lender further acknowledges and agrees that, during
the Ex-Im Period, the terms and provisions of the Intercreditor Agreement and the other intercreditor agreements govern and control over the terms and provisions of this Agreement and the other Loan Documents. Notwithstanding the foregoing or
anything herein, any other Loan Document or in the Intercreditor Agreement or other intercreditor agreement or arrangement to the contrary, the Loan Parties may not rely on this provision or on the terms of the Intercreditor Agreement or any other
intercreditor agreement or arrangement. 

  
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 Section 11.13 No Obligation by Administrative Agent or Lenders to Construct. The
Administrative Agent has no liability or obligation whatsoever or howsoever in connection with the Denton Property or the development, construction, or completion thereof or work performed thereon, and has no obligation except to disburse the
Term B Loan proceeds as agreed in the Loan Documents. The Administrative Agent has no duty to inspect the construction of the Improvements, and if the Administrative Agent (including any Inspector, “collateral agent” or other Person
on behalf of the Administrative Agent) should inspect the construction of the Improvements, the Administrative Agent, as applicable, shall have no liability or obligation to the Borrower or any other party or third Person arising out of such
inspection. No such inspection nor any failure by the Administrative Agent to make objections after any such inspection shall constitute a representation by the Administrative Agent that the Improvements are in accordance with the Construction
Plans, Governmental Requirements, or any other requirement, or constitute a waiver of the Administrative Agent’s right thereafter to insist that the Improvements be constructed in accordance with the Construction Plans, all Governmental
Requirements, or any other requirement or constitute a waiver of any breach, Event of Default, or other matter. The Administrative Agent is not liable or responsible, and under no circumstances whatsoever shall the Administrative Agent be or become
liable or responsible, for the performance or default of the Borrower or any Contractor or subcontractor, or for any failure to construct, complete, protect, or insure the Improvements or the Denton Property, or any part thereof, or for the payment
of any cost or expense incurred in connection therewith, or for the performance or nonperformance of any obligation of the Borrower or any other Loan Party, and the Administrative Agent makes no representation regarding any of the foregoing.
Nothing, including any Advance, payment by the Administrative Agent of any obligation of the Borrower or others, exercise by the Administrative Agent or the “collateral agent” of any of its rights and remedies, approval of any matter, or
acceptance of any document or instrument, shall be construed as an assumption of liability, undertaking, representation, or warranty, express or implied, on the Administrative Agent’s part unless expressly agreed in writing by Administrative
Agent. 
 Section 11.14 Administrative Agent Approvals and Requirements. With respect to the Term B Loans, the
related Advances and the Transactions related to the construction and development of the Improvements, the Administrative Agent’s approval (which shall include any approval or consent by the Administrative Agent or the Administrative
Agent’s representatives) of any matter in connection with such Transactions (including the funding of any Protective Advance) shall be for the sole purpose of protecting the security and rights of the Administrative Agent and the Lenders. No
such approval shall result in an assumption of any liability or obligation, nor result in a waiver of any breach or default of the Borrower. In no event shall the Administrative Agent’s approval be a representation, warranty, or undertaking by
the Administrative Agent of any kind with regard to the matter being approved. Without limiting the foregoing, no approval by the Administrative Agent related to the Construction Plans, the Budget, the Construction Schedule, a Construction Contract,
a Design Services Contract, a Draw Request, any construction, or any other matter, shall, in any way, be deemed to imply any warranty, representation, or covenant by the Administrative Agent, including that the Improvements, if so constructed, will
be structurally sound, will conform to any standards or requirements, will comply with the Construction Plans or any or all restrictive covenants, Governmental Requirements, or other requirements, will be fit for any particular purpose, or will have
a particular market value. Except only as expressly set forth in the Loan Documents that the Administrative Agent’s “reasonable” discretion or approval is needed, as to matters referenced in the Loan Documents that require the consent
or approval by the Administrative Agent, or that involve a determination by the Administrative Agent of whether something is acceptable or satisfactory to the Administrative Agent, such consent, approval, or determination may be granted or denied in
the Administrative Agent’s sole and absolute discretion, and no consent or approval shall be effective unless the same is expressly set forth in writing by the Administrative Agent, provided that, notwithstanding anything to the contrary
contained in any Loan Document, in all instances where the Loan Documents provide that the Administrative Agent shall be reasonable in actions that it takes (or elects not to take), the Administrative Agent shall take (or refrain from taking) such
actions in good faith and using reasonable (from the perspective of a secured commercial lender) business judgment. In no event shall any other act nor any omission on the part of the Administrative Agent be construed as a 

  
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consent or approval nor serve to later estop the Administrative Agent’s right to withhold its consent or approval as to a particular matter. Neither the Borrower nor any Loan Party, nor any
third party shall have the right to rely on any requirements, reviews, or procedures required, obtained, or conducted by the Administrative Agent, the Borrower hereby acknowledging that the Borrower has sole responsibility for all matters related to
the Denton Property and operations and construction related thereto. 
 ARTICLE XII 

Miscellaneous 
 Section 12.01 Notices. 
 (a) Except in the case, if any, of
notices and other communications expressly permitted to be given by telephone (and subject to Section 12.01(b)), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight
courier service, mailed by certified or registered mail or sent by facsimile, as follows: 
  

	 	(i)	if to the Borrower, to it at 

  

	 	    	PMFG, Inc./Peerless Mfg. Co. 

	 	    	14651 North Dallas Parkway, Suite 500 

	 	    	Dallas, Texas 75254 

	 	    	Attention: Ronald McCrummen 

	 	    	Facsimile: 214.351.4172 

	 	    	Telephone: 214.353.5510 

	 	    	Email: rmccrummen@peerlessmfg.com 

  

	 	    	with a copy to: 

  

	 	    	PMFG, Inc./Peerless Mfg. Co. 

	 	    	14651 North Dallas Parkway, Suite 500 

	 	    	Dallas, Texas 75254 

	 	    	Attention: Melissa Beare 

	 	    	Facsimile: 214.351.4172 

	 	    	Telephone: 972.559.6340 

	 	    	Email: mbeare@peerlessmfg.com 

  

	 	    	if to the Administrative Agent, to it at 

  

	 	    	Citibank, N.A. 

	 	    	2001 Ross Avenue, Suite 4300, 

	 	    	Dallas TX 75201 

	 	    	Attention: Deb Purvin 

	 	    	Facsimile: 866-940-8177 

	 	    	Telephone: 214-647-0800 

	 	    	Email: deb.purvin@citi.com 

  

	 	    	with a copy to: 

  

	 	    	Attention: Emmela Baldwin 

	 	    	Facsimile: 866-940-8177 

	 	    	Telephone: 214-647-0765 

	 	    	Email: emmela.a.baldwin@citi.com 

  
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	 	(ii)	if to the Issuing Bank, to it at: 

  

	 	    	Citibank, N.A. 

	 	    	2001 Ross Avenue, Suite 4300, 

	 	    	Dallas TX 75201 

	 	    	Attention: Deb Purvin 

	 	    	Facsimile: 866-940-8177 

	 	    	Telephone: 214-647-0800 

	 	    	Email: deb.purvin@citi.com 

  

	 	(iii)	if to the Swingline Lender, to it at: 

  

	 	    	Citibank, N.A. 

	 	    	2001 Ross Avenue, Suite 4300, 

	 	    	Dallas TX 75201 

	 	    	Attention: Deb Purvin 

	 	    	Facsimile: 866-940-8177 

	 	    	Telephone: 214-647-0800 

	 	    	Email: deb.purvin@citi.com 

  

	 	(iv)	if to a Lender, to it at its address (or facsimile number) set forth in its Administrative Questionnaire. 

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been
given when received; notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business
Day for the recipient). Notices delivered through electronic communications to the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b). 

(b) Notices and other communications to the Lenders, the Swingline Lender and the Issuing Bank hereunder may be delivered
or furnished by electronic communication (including e mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender, such Swingline
Lender or the Issuing Bank pursuant to Article II, Article III, Article IV and Article V if such Lender, the Swingline Lender or the Issuing Bank, as applicable, has notified the Administrative Agent that it is incapable
of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to
procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. 
 Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from
the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed
received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the 

  
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website address therefor, provided that, for both clauses (i) and (ii) above, if such notice, email or other communication is not sent during the normal business
hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient. 
 (c) Any party hereto may change its address or facsimile number for notices and other communications hereunder by notice to the other parties hereto. 

(i) So long as Citibank is the Administrative Agent, all information, documents and other materials that the Borrower is
obligated to furnish to the Administrative Agent pursuant to the Loan Documents, including all notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such communication
that (i) relates to a request for a new, or a conversion of an existing, Borrowing or other extension of credit (including any election of an interest rate or interest period relating thereto), (ii) relates to the payment of any principal
or other amount due under the Credit Agreement prior to the scheduled date therefor, (iii) provides notice of any Default or Event of Default under the Credit Agreement or (iv) is required to be delivered to satisfy any condition precedent
to the effectiveness of the Credit Agreement and/or any Borrowing or other extension of credit thereunder (all such non-excluded communications being referred to herein collectively as “Communications”), may be (or upon the
request of the Administrative Agent shall be) delivered to the Administrative Agent in an electronic medium in a format acceptable to the Administrative Agent and the Lenders by e-mail at oploanswebadmin@citigroup.com. 

(ii) Each Loan Party agrees that the Administrative Agent may, but shall not be obligated to, make the Communications
available to the Issuing Bank, the Swingline Lender and the other Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak or a substantially similar electronic transmission system (the “Platform”).

 (iii) The Borrower acknowledges that the distribution of material through an electronic medium is not
necessarily secure and that there are confidentiality and other risks associated with such distribution. The Platform is provided “as is” and “as available.” The Agent Parties (as defined below) do not warrant the adequacy of the
Platform and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular purpose,
non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications or the Platform. In no event shall the Administrative Agent or any of its Related Parties
(collectively, the “Agent Parties”) have any liability to the Borrower or the other Loan Parties, any Lender or any other Person or entity for losses, claims, damages, liabilities or expenses of any kind (whether in tort,
contract or otherwise) arising out of the Borrower’s, any Loan Party’s or the Administrative Agent’s transmission of communications through the Platform, except to the extent that such losses, claims, damages, liabilities or expenses
are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any
liability to the Borrower or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 

  
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 (iv) Each Lender agrees that notice to it (as provided in the next sentence)
under any of the Loan Documents (a “Notice”) specifying that any Communications hereunder and thereunder have been posted to the Platform shall constitute effective delivery of such information, documents or other materials to such Lender
for the purposes of this Agreement and the other Loan Documents. Each Lender agrees (i) to notify the Administrative Agent in writing of such Lender’s e-mail address to which a Notice may be sent by electronic transmission (including by
electronic communication) on or before the date such Lender becomes a party to this Agreement (and from time to time thereafter to ensure that the Administrative Agent has on record an effective e-mail address for such Lender) and (ii) that any
Notice may be sent to such e-mail address. 
 (v) Each Public Lender agrees to cause at least one individual at
or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance
with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state securities laws, to make reference to Communications that are not made available through the “Public Side Information”
portion of the Platform and that may contain material non-public information with respect to the Borrower, any of the other Loan Parties, or their securities for purposes of U.S. Federal or state securities laws. 

Section 12.02 Waivers; Amendments. 
 (a) No failure on the part of the Administrative Agent, any other Agent, the Swingline Lender, the Issuing Bank or any Lender to exercise and no delay in exercising, and no course of dealing with respect
to, any right, power or privilege, or any abandonment or discontinuance of steps to enforce such right, power or privilege, under any of the Loan Documents shall operate as a waiver thereof, nor shall any single or partial exercise of any right,
power or privilege under any of the Loan Documents preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Administrative Agent, any other Agent, the Swingline Lender, the
Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or any other Loan Document or
consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by Section 12.02(b), and then such waiver or consent shall be effective only in the specific instance and for the
purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any other Agent, the
Swingline Lender, any Lender or the Issuing Bank may have had notice or knowledge of such Default at the time. 

Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights
and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained
exclusively by, the Administrative Agent in accordance with Section 10.02 for the benefit of Secured Parties; provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own
behalf the rights and remedies that inure to its benefit (solely in its capacity as the Administrative Agent) hereunder and under the other Loan Documents, (b) the Issuing Bank from exercising the rights and remedies that inure to its benefit
(solely in its capacity as Issuing Bank) hereunder and under the other Loan Documents, (c) any Lender from 

  
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exercising setoff rights in accordance with Section 12.08 (subject to the terms of Section 4.01), or (d) any Lender from filing proofs of claim or appearing and
filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as the Administrative Agent hereunder and
under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 10.02 and (ii) in addition to the matters set forth in
clauses (b), (c) and (d) of the preceding proviso and subject to Section 4.01, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as
authorized by the Required Lenders. 
 (b) Neither this Agreement nor any provision hereof nor any other Loan
Document or any provision thereof may be waived, amended or modified, except pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of
the Required Lenders; provided that no such agreement shall 
 (i) increase the Commitment of any Lender
without the written consent of such Lender, 
 (ii) increase the Borrowing Base without the written consent of
each Lender, or decrease or maintain the Borrowing Base without the consent of the Required Lenders, 
 (iii)
reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, or reduce any other Obligations hereunder or under any other Loan Document, without the written consent of each
Lender affected thereby, 
 (iv) postpone the scheduled date of payment or prepayment of the principal amount of
any Loan or LC Disbursement, or any interest thereon, or any fees payable hereunder, or any other Obligations hereunder or under any other Loan Document, or reduce the amount of, waive or excuse any such payment, or postpone or extend the scheduled
date of expiration of any Commitment, without the written consent of each Lender affected thereby, 
 (v) change
Section 4.01(b) or Section 4.01(c) or Section 10.02(c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender affected thereby and if applicable,
each Swap Lender and each Treasury Management Party affected thereby, 
 (vi) waive or amend
Section 3.04(b), Section 6.03, Section 8.13, Section 10.02(e), Section 11.11 or Section 12.14 or change the definition of the terms “Domestic Subsidiary”,
“Foreign Subsidiary” or “Subsidiary”, without the written consent of each Lender affected thereby, 
 (vii) release any Guarantor (except as set forth in the Guaranty Agreement) or release all or substantially all of the Collateral (other than as provided in Section 11.10), without the written
consent of each Lender affected thereby, 
 (viii) change any of the provisions of this
Section 12.02(b), the definition of “Required Lenders”, the definition of “Applicable Percentage” or any other provision hereof specifying the number or percentage of Lenders or Class of Lenders required to

  
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waive, amend or modify any rights hereunder or under any other Loan Documents or make any determination or grant any consent hereunder or any other Loan Documents, without the written consent of
each Lender affected thereby, or 
 (ix) change the definition of “Approved Currency” without the
written consent of each Lender; 
 provided further that, notwithstanding the foregoing or any other provision to the
contrary, (A) no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, any other Agent, the Swingline Lender or the Issuing Bank hereunder or under any other Loan Document without the prior
written consent of the Administrative Agent, such other Agent the Swingline Lender or the Issuing Bank, as the case may be, and (B) nothing in this Section 12.02 shall cause any waiver, amendment, modification or consent to
(I) any fee letter between the Borrower and any Lender, Agent or the Administrative Agent or Issuing Bank to require the consent of the Required Lenders, (II) any Letter of Credit Agreements between the Borrower or any Subsidiary of the
Borrower and the Issuing Bank to require the consent of the Required Lenders, (III) any Letter of Credit issued by the Issuing Bank pursuant to the terms of this Agreement to require the consent of the Required Lenders except as specifically
required by Section 12.09, (IV) any Swap Agreement, to require the consent of the Required Lenders, or (V) any Treasury Management Agreement to require the consent of the Required Lenders. 

(c) Notwithstanding anything to the contrary herein, the Administrative Agent, without the consent of any of the Required
Lenders or any other party, may enter into an amendments to this Agreement or the other Loan Documents in order to comply with Section 8.16. 
 (d) Notwithstanding anything to the contrary herein, during such period as a Lender is a Defaulting Lender, to the fullest extent permitted by applicable law, such Lender shall have no right to approve or
disapprove of any amendment, waiver or consent hereunder, and the Commitment and the outstanding Loans or other extensions of credit of such Lender hereunder will not be taken into account in determining whether the Required Lenders or all of the
Lenders, as required, have approved any such amendment or waiver (and the definition of “Required Lenders” will automatically be deemed modified accordingly for the duration of such period); provided, that any such amendment or
waiver that would increase or extend the term of the Commitment of such Defaulting Lender, extend the date fixed for the payment of principal or interest owing to such Defaulting Lender hereunder, reduce the principal amount of any obligation owing
to such Defaulting Lender, reduce the amount of or the rate or amount of interest on any amount owing to such Defaulting Lender or of any fee payable to such Defaulting Lender hereunder, or alter the terms of this proviso, will require the consent
of such Defaulting Lender. 
 Section 12.03 Expenses, Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the
Administrative Agent and its Affiliates, including, without limitation, the reasonable fees, charges and disbursements of counsel and other outside consultants for the Administrative Agent, the reasonable travel, photocopy, mailing, courier,
telephone and other similar expenses, and the cost of environmental audits and surveys and appraisals, in connection 

  
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with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration (both before and after the execution hereof and including
advice of counsel to the Administrative Agent as to the rights and duties of the Administrative Agent and the Lenders with respect thereto) of this Agreement and the other Loan Documents and any amendments, modifications or waivers of or consents
related to the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all Taxes and assessments and other reasonable costs, expenses and charges incurred by any Agent or any
Lender in connection with any filing, registration, recording or perfection of any security interest contemplated by this Agreement or any Collateral Document or any other document referred to therein, (iii) all reasonable out-of-pocket
expenses incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder, (iv) all out-of-pocket expenses incurred by any Agent, the Issuing Bank or any
Lender, including the fees, charges and disbursements of any counsel for any Agent, the Issuing Bank or any Lender, in connection with the enforcement or protection of its rights in connection with this Agreement or any other Loan Document,
including its rights under this Section 12.03, or in connection with the Loans made or Letters of Credit issued hereunder, including, without limitation, all such out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit (which in the case of counsel other than counsel for the Administrative Agent, shall be limited to fees and disbursements of one law firm for all Lenders (other than the Administrative
Agent) except where (i) conflicts of interest among one or more Lenders, (ii) the necessity for local counsel, or (iii) other circumstances exist that cause the Required Lenders to determine in good faith that one law firm cannot
represent the interests of all the Lenders). 
 (b) INDEMNIFICATION BY THE BORROWER. THE BORROWER SHALL
INDEMNIFY THE ADMINISTRATIVE AGENT (AND ANY SUB-AGENT THEREOF), EACH LENDER AND THE ISSUING BANK, AND EACH RELATED PARTY OF ANY OF THE FOREGOING PERSONS (EACH SUCH PERSON BEING CALLED AN “INDEMNITEE”) AGAINST, AND HOLD EACH
INDEMNITEE HARMLESS FROM, ANY AND ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES, PENALTIES AND RELATED EXPENSES (INCLUDING THE REASONABLE FEES, CHARGES AND DISBURSEMENTS OF ANY COUNSEL FOR ANY INDEMNITEE), INCURRED BY ANY INDEMNITEE OR ASSERTED AGAINST
ANY INDEMNITEE BY ANY PERSON OR BY THE BORROWER OR ANY OTHER LOAN PARTY ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF (I) THE EXECUTION OR DELIVERY OF THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR ANY AGREEMENT OR INSTRUMENT CONTEMPLATED
HEREBY OR THEREBY, THE PERFORMANCE BY THE PARTIES HERETO OF THEIR RESPECTIVE OBLIGATIONS HEREUNDER OR THEREUNDER OR THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, (II) ANY LOAN, ADVANCE OR LETTER OF CREDIT OR THE USE OR
PROPOSED USE OF THE PROCEEDS THEREFROM (INCLUDING ANY REFUSAL BY THE ISSUING BANK TO HONOR A DEMAND FOR PAYMENT UNDER A LETTER OF CREDIT IF THE DOCUMENTS PRESENTED IN CONNECTION WITH SUCH DEMAND DO NOT STRICTLY COMPLY WITH THE TERMS OF SUCH LETTER
OF CREDIT), (III) ANY ACTUAL OR ALLEGED PRESENCE OR RELEASE OF HAZARDOUS MATERIALS ON OR FROM ANY PROPERTY OWNED OR OPERATED BY THE BORROWER OR ANY OF ITS SUBSIDIARIES OR OTHER LOAN PARTIES, OR ANY ENVIRONMENTAL LIABILITY RELATED IN ANY WAY TO
THE BORROWER OR ANY OF ITS SUBSIDIARIES, OR OTHER LOAN PARTIES, OR (IV) ANY ACTUAL OR PROSPECTIVE CLAIM, LITIGATION, INVESTIGATION OR PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY,

  
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WHETHER BROUGHT BY A THIRD PARTY, BY THE BORROWER, ANY OTHER LOAN PARTY OR ANY SUBSIDIARY OF ANY LOAN PARTY, AND REGARDLESS OF WHETHER ANY INDEMNITEE IS A PARTY THERETO, IN ALL CASES,
WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; PROVIDED THAT SUCH INDEMNITY SHALL NOT, AS TO ANY INDEMNITEE, BE AVAILABLE TO THE EXTENT THAT SUCH
LOSSES, CLAIMS, DAMAGES, LIABILITIES, PENALTIES OR RELATED EXPENSES (X) ARE DETERMINED BY A COURT OF COMPETENT JURISDICTION BY FINAL AND NONAPPEALABLE JUDGMENT TO HAVE RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SUCH INDEMNITEE
OR (Y) RESULT FROM A CLAIM BROUGHT BY THE BORROWER OR ANY OTHER LOAN PARTY AGAINST AN INDEMNITEE FOR BREACH IN BAD FAITH OF SUCH INDEMNITEE’S OBLIGATIONS HEREUNDER OR UNDER ANY OTHER LOAN DOCUMENT, IF THE BORROWER OR SUCH LOAN PARTY HAS
OBTAINED A FINAL AND NONAPPEALABLE JUDGMENT IN ITS FAVOR ON SUCH CLAIM AS DETERMINED BY A COURT OF COMPETENT JURISDICTION. THIS Section 12.03(b) SHALL NOT APPLY WITH RESPECT TO TAXES OTHER THAN ANY TAXES THAT REPRESENT LOSSES, CLAIMS,
DAMAGES, ETC. ARISING FROM ANY NON-TAX CLAIM. 
 (c) Reimbursement by Lenders. To the extent that the
Borrower for any reason fails to indefeasibly pay any amount required to be paid by it to the Administrative Agent (or any sub-agent thereof), the Arranger, the Swingline Lender or the Issuing Bank or any Related Party of the foregoing under
Section 12.03(a) or (b), each Lender severally agrees to pay to such Administrative Agent (or any such sub-agent), the Swingline Lender, the Issuing Bank, or such Related Party as the case may be, such Lender’s Applicable
Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that with respect
to such unpaid amounts owed to the Issuing Bank solely in its capacity as such, only the Revolving Credit Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Revolving Credit Lenders’
Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought); provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as
the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), the Swingline Lender, the Issuing Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative
Agent (or any such sub-agent), the Swingline Lender, the Issuing Bank in connection with such capacity. 
 (d)
Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable Law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or
punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or
Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in Section 12.03(b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by
it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby. 

  
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 (e) Payments. All amounts due under this Section 12.03
shall be payable promptly, but in any event not later than three (3) Business Days after demand therefor. 

(f) Survival. The provisions of this Section 12.03 shall remain operative and in full force and effect
regardless of the expiration of the term of this Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the expiration of any Letter of Credit, the invalidity or
unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Administrative Agent, the Swingline Lender, any Lender or the Issuing Bank. 

Section 12.04 Successors and Assigns. 
 (a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted
hereby, except that neither the Borrower nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender, and no Lender may assign or
otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of Section 12.04(b), (ii) by way of participation in accordance with the provisions of
Section 12.04(d), or (iii) by way of pledge or assignment of a security interest subject to the restrictions of Section 12.04(e) (and any other attempted assignment or transfer by any party hereto shall be null and
void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in
Section 12.04(d) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

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

(i) Minimum Amounts. 
 (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and/or the Loans at the time owing to it (in each case) or contemporaneous assignments to related
Approved Funds that equal at least the amount specified in Section 12.04(b)(i)(B) in the aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and

 (B) in any case not described in Section 12.04(b)(i)(A), the aggregate amount of the Commitment
(which for this purpose includes Loans outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment (determined as of the date
the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date) shall not be less than
$5,000,000, or, in the case of an assignment of a Term Loan, $1,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be
unreasonably withheld or delayed). 

  
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 (ii) Proportionate Amounts. Each partial assignment shall be made as
an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loan or the Commitment assigned. 

(iii) Required Consents. No consent shall be required for any assignment except to the extent required by
Section 12.04(b)(i)(B) and, in addition: 
 (A) the consent of the Borrower (such consent not to be
unreasonably withheld or delayed) shall be required unless (x) an Event of Default has occurred and is continuing at the time of such assignment, or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund;
provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof and
provided, further, that the Borrower’s consent shall not be required during the primary syndication of the Loans; 
 (B) the consent of the Administrative Agent shall be required for assignments in respect of the Loans or any unfunded Commitments if such assignment is to a Person that is not a Lender with a Commitment,
an Affiliate of such Lender or an Approved Fund with respect to such Lender; provided that no consent of the Administrative Agent shall be required for an assignment of a Term Loan to an existing Term Loan Lender or an Affiliate or Approved
Fund thereof; and 
 (C) in the case of assignments of the Revolving Credit Commitment and Revolving Credit
Loans, the consent of the Issuing Bank and the Swingline Lender. 
 (iv) Assignment and Assumption. The
parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500; provided that the Administrative Agent may, in its sole discretion, elect
to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

(v) No Assignment to Certain Persons. No such assignment shall be made to (A) the Borrower or any of the
Borrower’s Affiliates or Subsidiaries, or to any Loan Party or any of Affiliate or Subsidiary of any Loan Party or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would
constitute any of the foregoing Persons described in this clause (B). 
 (vi) No Assignment to
Natural Persons. No such assignment shall be made to a natural Person. 
 (vii) Certain Additional
Payments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the

  
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 parties to the assignment shall make such additional payments to the Administrative Agent in
an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the
Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and
satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the Swingline Lender, the Issuing Bank, and each other Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as
appropriate) its full pro rata share of all Loans and participations in Letters of Credit in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting
Lender hereunder shall become effective under applicable Law without compliance with the provisions of this Section 12.04(b)(vii), then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this
Agreement until such compliance occurs. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to
Section 12.04(c), from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption,
have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Article V and
Section 12.03 with respect to facts and circumstances occurring prior to the effective date of such assignment and shall remain subject to the obligations of Section 5.03; provided, that except to the extent otherwise
expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or transfer by a
Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with this
Section 12.04(d). No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in Section 12.04(c). 

(c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain
a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of (and stated interest on) the Loans owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon
reasonable prior notice. 
 (d) Participations. Any Lender may at any time, without the consent of, or
notice to, the Borrower or the Administrative Agent, sell participations to any Person (except (x) a natural Person or the Borrower, (y) any of the Borrower’s Affiliates or Subsidiaries or (z) any Loan Party or any Subsidiary of
a Loan Party or any Affiliate of an Loan Party or Subsidiary of a Loan Party) 

  
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 (each, a “Participant”) in all or a portion of such Lender’s
rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such
Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Borrower, the Administrative Agent, the Swingline Lender, the Issuing Bank and Lenders shall continue to deal solely and
directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 12.03(c) with respect to any
payments made by such Lender to its Participant(s). 
 Any agreement or instrument pursuant to which a Lender
sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in Section 12.02(b) to the extent that it affects such Participant. The Borrower agrees
that each Participant shall be entitled to the benefits of Article V (subject to the requirements and limitations therein, including the requirements under Section 5.03(g) (it being understood that the documentation required under
Section 5.03(g) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to this Section 12.04(b); provided that such Participant
(A) agrees to be subject to the provisions of Section 5.04 as if it were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive any greater payment under Section 5.01 or
Section 5.03, with respect to any participation, than its participating Lender would have been entitled to receive, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. Each
Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 5.04(b) with respect to any Participant. To the extent
permitted by Law, each Participant also shall be entitled to the benefits of Section 12.08 as though it were a Lender; provided that such Participant agrees to be subject to Section 4.01(c) as though it were a Lender.
Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts of (and stated interest on) each
Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant
Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that
such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall
be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the
avoidance of doubt, the Administrative Agent (solely in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

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

  
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 Section 12.05 Survival; Revival; Reinstatement. 

(a) All covenants, agreements, representations and warranties made by the Borrower and the other Loan Parties herein and
in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of
this Agreement and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, any other Agent, the Swingline Lender,
the Issuing Bank or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any
accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of
Section 5.01, Section 5.02, Section 5.03 and Section 12.03 and Article XI shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated
hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement, any other Loan Document or any provision hereof or thereof. 

(b) To the extent that any payments on the Obligations or proceeds of any collateral are subsequently invalidated,
declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in possession, receiver or other Person under any bankruptcy law, common law or equitable cause, then to such extent, the Obligations so satisfied
shall be revived and continue as if such payment or proceeds had not been received and the Administrative Agent’s and the Lenders’ Liens, security interests, rights, powers and remedies under this Agreement and each Loan Document shall
continue in full force and effect. In such event, each Loan Document shall be automatically reinstated and the Borrower shall take such action as may be reasonably requested by the Administrative Agent and the Lenders to effect such reinstatement.

 Section 12.06 Counterparts; Integration; Effectiveness; Electronic Signatures. 

(a) This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of
which shall constitute an original, but all of which when taken together shall constitute a single contract. 

(b) This Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable to the
Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and thereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof and
thereof. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO AND THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
 (c) Except as provided in Article VI, this Agreement
shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and
thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or in electronic (i.e.,
“pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement. 

  
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 (d) Electronic Execution of Assignments. The words
“execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic
signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent
and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the Texas Uniform Electronic Transaction Act, or any other similar state Laws based on the Uniform Electronic Transactions
Act. 
 Section 12.07 Severability. Any provision of this Agreement or any other Loan Document 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 or thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 Section 12.08 Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the Swingline Lender, the Issuing Bank, and each of their respective Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other
obligations (of whatsoever kind and in whatever currency, including, without limitation, obligations under Swap Agreements and Treasury Management Agreements) at any time owing by such Lender, the Swingline Lender or the Issuing Bank, or any such
Affiliate, to or for the credit or the account of the Borrower, any Subsidiary, Guarantor or other Loan Party against any and all of the obligations of the Borrower, any Subsidiary, Guarantor or other Loan Party now or hereafter existing under this
Agreement or any other Loan Documents to such Lender or the Issuing Bank or their respective Affiliates, irrespective of whether or not such Lender, the Swingline Lender, Issuing Bank or Affiliate shall have made any demand under this Agreement or
any other Loan Document and although such obligations of the Borrower, any Subsidiary, Guarantor or such other Loan Party may be contingent or unmatured or are owed to a branch, office or Affiliate of such Lender, the Swingline Lender, or the
Issuing Bank different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off
shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.12 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed
held in trust for the benefit of the Administrative Agent, the Swingline Lender, the Issuing Bank, and the other Secured Parties, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in
reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the Issuing Bank and their respective Affiliates under this Section 12.08 are in addition to
other rights and remedies (including other rights of setoff) that such Lender, the Swingline Lender, the Issuing Bank or their respective Affiliates may have. Each Lender, the Swingline Lender and the Issuing Bank agrees to notify the Borrower and
the Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application. 

  
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 Section 12.09 Governing Law; Jurisdiction; Consent to Service of Process; Waiver of Jury
Trial. 
 (a) Governing Law. This Agreement and the other Loan Documents and any claims, controversy,
dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement or any other Loan Document (except, as to any other Loan Document, as expressly set forth therein) and the transactions
contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of Texas. 
 (b) Submission to Jurisdiction. The Borrower and each other Loan Party irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or
description, whether in Law or equity, whether in contract or in tort or otherwise, against the Administrative Agent, any Lender, the Swingline Lender, the Issuing Bank, or any Related Party of the foregoing in any way relating to this Agreement or
any other Loan Document or the transactions relating hereto or thereto, in any forum other than the courts of the State of Texas sitting in Dallas County, and of the United States District Court of the Northern District of Texas, and any appellate
court from any thereof, and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that all claims in respect of any such action, litigation or proceeding may be heard and determined in such
Texas State court or, to the fullest extent permitted by applicable Law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action, litigation 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. Nothing in this Agreement or in any other Loan Document shall affect any right that the Administrative Agent, any Lender or the Issuing Bank may otherwise have to bring
any action or proceeding relating to this Agreement or any other Loan Document against the Borrower or any other Loan Party or its properties in the courts of any jurisdiction. 

(c) Waiver of Venue. The Borrower and each other Loan Party irrevocably and unconditionally waives, to the fullest
extent permitted by applicable Law, any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in
paragraph (b) of this Section 12.09. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by applicable Law, the defense of an inconvenient forum to the maintenance of such action or proceeding in
any such court. 
 (d) Service of Process. Each party hereto irrevocably consents to service of process in
the manner provided for notices in Section 12.01. Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable Law. 

(e) Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON
CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS 

  
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 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

Section 12.10 Headings. Article and Section headings and the Table of Contents used herein and in the other Loan Documents are for
convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement or any other Loan Document. 

Section 12.11 Confidentiality. Each of the Administrative Agent, the Lenders, the Swingline Lender and the Issuing Bank agree to
maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed
of the confidential nature of such Information and instructed to keep such Information confidential); (b) to the extent required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties
(including any self-regulatory authority, such as the National Association of Insurance Commissioners); (c) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process; (d) to any other party
hereto; (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder;
(f) subject to a written agreement containing provisions substantially the same as those of this Section 12.11, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and
obligations under this Agreement, or (ii) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to the Borrower and its obligations, this Agreement
or payments hereunder; (g) on a confidential basis to (i) any rating agency in connection with rating any Loan Party or the Loans or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of
CUSIP numbers with respect to the Loans; (h) with the consent of the Borrower; or (i) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section 12.11, or
(y) becomes available to the Administrative Agent, any Agent, the Swingline Lender, any Lender, the Issuing Bank or any of their respective Affiliates on a nonconfidential basis from a source other than a Loan Party other than as a result of a
breach of this Section 12.11. 
 For purposes of this Section, “Information” means all
information received from a Loan Party or any of its Subsidiaries relating to a Loan Party or any of its Subsidiaries or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or
the Issuing Bank on a nonconfidential basis prior to disclosure by a Loan Party or any of its Subsidiaries. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its
obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

Each of the Lenders acknowledges and agrees that (a) the Information may include material non-public information concerning the
Borrower, a Subsidiary of or another Loan Party, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance
with applicable Law, including United States Federal and state securities laws. 
 Section 12.12 Interest Rate
Limitation. It is the intention of the parties hereto that each Lender shall conform strictly to usury laws applicable to it. Accordingly, if the transactions contemplated hereby would be usurious as to any Lender under Laws applicable to it
(including the laws of the United States of America and the State of Texas or any other jurisdiction whose Laws may be mandatorily applicable to 

  
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 such Lender notwithstanding the other provisions of this Agreement), then, in that event, notwithstanding
anything to the contrary in any of the Loan Documents or any agreement entered into in connection with or as security for the Notes, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under Law applicable
to any Lender that is contracted for, taken, reserved, charged or received by such Lender under any of the Loan Documents or agreements or otherwise in connection with the Notes shall under no circumstances exceed the maximum amount allowed by such
applicable Law, and any excess shall be canceled automatically and if theretofore paid shall be credited by such Lender on the principal amount of the Obligations (or, to the extent that the principal amount of the Obligations shall have been or
would thereby be paid in full, refunded by such Lender to the Borrower); and (ii) in the event that the maturity of the Notes is accelerated by reason of an election of the holder thereof resulting from any Event of Default under this Agreement
or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest under Law applicable to any Lender may never include more than the maximum amount allowed by such applicable Law, and excess
interest, if any, provided for in this Agreement or otherwise shall be canceled automatically by such Lender as of the date of such acceleration or prepayment and, if theretofore paid, shall be credited by such Lender on the principal amount of the
Obligations (or, to the extent that the principal amount of the Obligations shall have been or would thereby be paid in full, refunded by such Lender to the Borrower). All sums paid or agreed to be paid to any Lender for the use, forbearance or
detention of sums due hereunder shall, to the extent permitted by Law applicable to such Lender, be amortized, prorated, allocated and spread throughout the stated term of the Loans evidenced by the Notes until payment in full so that the rate or
amount of interest on account of any Loans hereunder does not exceed the maximum amount allowed by such applicable Law. If at any time and from time to time (i) the amount of interest payable to any Lender on any date shall be computed at the
Highest Lawful Rate applicable to such Lender pursuant to this Section 12.12 and (ii) in respect of any subsequent interest computation period the amount of interest otherwise payable to such Lender would be less than the amount of
interest payable to such Lender computed at the Highest Lawful Rate applicable to such Lender, then the amount of interest payable to such Lender in respect of such subsequent interest computation period shall continue to be computed at the Highest
Lawful Rate applicable to such Lender until the total amount of interest payable to such Lender shall equal the total amount of interest which would have been payable to such Lender if the total amount of interest had been computed without giving
effect to this Section 12.12. To the extent that Chapter 303 of the Texas Finance Code is relevant for the purpose of determining the Highest Lawful Rate applicable to a Lender, such Lender elects to determine the applicable rate
ceiling under such Chapter by the weekly ceiling from time to time in effect. Chapter 346 of the Texas Finance Code does not apply to the Borrower’s obligations hereunder. 

Section 12.13 EXCULPATION PROVISIONS. EACH OF THE PARTIES HERETO SPECIFICALLY AGREES THAT IT HAS A DUTY TO READ THIS AGREEMENT AND
THE OTHER LOAN DOCUMENTS AND AGREES THAT IT IS CHARGED WITH NOTICE AND KNOWLEDGE OF THE TERMS OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; THAT IT HAS IN FACT READ THIS AGREEMENT AND IS FULLY INFORMED AND HAS FULL NOTICE AND KNOWLEDGE OF THE
TERMS, CONDITIONS AND EFFECTS OF THIS AGREEMENT; THAT IT HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL OF ITS CHOICE THROUGHOUT THE NEGOTIATIONS PRECEDING ITS EXECUTION OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; AND HAS RECEIVED THE ADVICE
OF ITS ATTORNEY IN ENTERING INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; AND THAT IT RECOGNIZES THAT CERTAIN OF THE TERMS OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS RESULT IN ONE PARTY ASSUMING THE LIABILITY INHERENT IN SOME ASPECTS OF THE
TRANSACTION AND RELIEVING THE OTHER PARTY OF ITS RESPONSIBILITY FOR SUCH LIABILITY. EACH PARTY HERETO AGREES AND COVENANTS THAT IT WILL NOT CONTEST THE VALIDITY OR ENFORCEABILITY OF ANY EXCULPATORY PROVISION OF THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS ON THE BASIS THAT THE PARTY HAD NO NOTICE OR KNOWLEDGE OF SUCH PROVISION OR THAT THE PROVISION IS NOT “CONSPICUOUS.” 

  
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 Section 12.14 Collateral Matters; Swap Agreements; Treasury Management Agreements.
The benefit of the Collateral Documents and of the provisions of this Agreement relating to any collateral securing the Obligations shall also extend to and be available to any Swap Lender and any Treasury Management Party with respect to amounts
payable by the Borrower, any Subsidiary, and any Guarantor under any Secured Swap Agreement and/or Secured Treasury Management Agreement on a pari passu basis with respect to repayment of principal outstanding on Loans due under this Agreement.
Except as otherwise provided in Section 12.02(b)(v), no Swap Lender or Treasury Management Party shall have any voting rights under any Loan Document as a result of the existence of obligations owed to it under any such Swap Agreements
or Treasury Management Agreements. All Swap Agreements between the Borrower or any Subsidiary and any Swap Lender are independent agreements governed by the terms thereof and will remain in full force and effect, unaffected by any repayment,
prepayment, acceleration, reduction, increase or change in the terms of the Loans created under this Agreement except as otherwise provided in said Swap Agreement, and any payoff statement from any Lender relating to this Agreement shall not apply
to said Swap Agreement with such Swap Lender except as otherwise expressly provided in such payoff statement. All Treasury Management Agreements between the Borrower and any Treasury Management Party are independent agreements governed by the terms
thereof and will remain in force and effect, unaffected by any repayment, prepayment, acceleration, reduction, increase or change in the terms of the Loans created under this Agreement except as otherwise provided in said Treasury Management
Agreement, and any payoff statement from any Lender relating to this Agreement shall not apply to said Treasury Management Agreement with such Treasury Management Party except as otherwise expressly provided in such payoff statement. 

Section 12.15 No Third Party Beneficiaries. This Agreement, the other Loan Documents, and the agreement of the Lenders to make
Loans and the Issuing Bank to issue, amend, renew or extend Letters of Credit hereunder are solely for the benefit of the Borrower, and no other Person (including, without limitation, any Subsidiary of the Borrower, any obligor, contractor,
subcontractor, supplier or materialman) shall have any rights, claims, remedies or privileges hereunder or under any other Loan Document against the Administrative Agent, any other Agent, the Issuing Bank, the Swingline Lender or any Lender for any
reason whatsoever. There are no third party beneficiaries. 
 Section 12.16 Time of the Essence. Time is of the essence
of the Loan Documents. 
 Section 12.17 No Advisory or Fiduciary Responsibility. The Borrower and each other Loan Party
acknowledges and agrees that in connection with all aspects of the transaction evidenced by this Agreement and the other Loan Documents, the Transactions and each other transaction contemplated hereby and by the other Loan Documents (including in
connection with any amendment, waiver or other modification hereof or of any other Loan Document) that: 
 (a)
(i) the arranging and other services regarding this Agreement and the other Loan Documents provided by the Agents and the Arrangers, are arm’s-length commercial transactions between the Borrower, each other Loan Party and their respective
Affiliates, on the one hand, and the Administrative Agent, the other Agents and each of the Arrangers, on the other hand, 
 (ii) each of the Borrower and the other Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and 

  
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 (iii) the Borrower and each other Loan Party is capable of evaluating, and
understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; 
 (b) (i) each of the Administrative Agent, the other Agents and each of the Arrangers, is, and has been, acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has
not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower, any other Loan Party or any of their respective Affiliates, or any other Person; 

(ii) none of the Administrative Agent, the other Agents nor any of the Arrangers has any obligation to the Borrower, any
other Loan Party or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; 

(iii) any of the Administrative Agent, the other Agents and the Arrangers, and any of their respective Affiliates, may be
engaged in a broad range of transactions that involve interests that differ from those of the Borrower, the other Loan Parties and their respective Affiliates, and none of the Administrative Agent, the other Agents nor any of the Arrangers has any
obligation to disclose any of such interests to the Borrower, any other Loan Party or any of their respective Affiliates. 
 To
the fullest extent permitted by Law, each of the Borrower and the other Loan Parties hereby waives and releases any claims that it may have against the Administrative Agent, any of the other Agents or any of the Arrangers with respect to any breach
or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby and by the other Loan Documents. 
 Section 12.18 Joint and Several Obligations. Each and every representation, warranty, covenant or agreement of the Borrowers contained herein shall be, and shall be deemed to be, the joint and
several representation, warrant, covenant and agreement of each of PMFG and Peerless and all of such Persons. In addition, the indebtedness, liabilities and obligations of the Borrower shall be, and shall be deemed to be, the joint and several
indebtedness, liabilities and obligations of each of PMFG and Peerless and all of such Person. The value of the consideration received and to be received by each of PMFG and Peerless is reasonably worth at least as much as the liability and
obligation of each of PMFG and Peerless hereunder. 
 Section 12.19 USA Patriot Act Notice. Each Lender that is subject
to the Act (as hereinafter defined) and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of each Loan Party and other information that
will allow such Lender or the Administrative Agent, as applicable, to identify each Loan Party in accordance with the Act. The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and
other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” an anti-money laundering rules and regulations, including the Act. 

Section 12.20 ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND
MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

  
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 Section 12.21 Judgment Currency. If, for the purposes of obtaining judgment in any
court, it is necessary to convert a sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could
purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or
under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the
“Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the Judgment Currency, the
Administrative Agent or such Lender, as the case may be, may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum
originally due to the Administrative Agent or any Lender from the Borrower in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such Lender, as the
case may be, against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or any Lender in such currency, the Administrative Agent or such Lender, as the case may be,
agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under applicable law). 
 Section 12.22 Amendment and Restatment. The Amended and Restated Term B Loan Notes and the provisions of this Agreement relating to the Term B Loans evidenced thereby shall be an amendment,
renewal, extension and restatement of the terms and provisions governing the repayment of the indebtedness evidenced by that certain Promissory Note dated August 14, 2012 in the original principal amount of $12,000,000.00 (the “Prior
Note”), executed by Peerless, payable to the order of PMFG, which Prior Note has been assigned to each of the Lenders pursuant to that certain Assignment of Note and Deed of Trust (the “Assignment”) dated of even date
herewith by PMFG in favor of Administrative Agent to be recorded in the Real Property Records of Denton County, Texas (the “Records”). In accordance with such amendment, renewal, extension and restatement, each party hereto
acknowledges and agrees that (a) the Obligations (as defined in this Agreement) represent, among other things, the restatement, renewal, amendment, extension and modification of the indebtedness evidenced by the Prior Note; (b) the
indebtedness evidenced by the Prior Note shall be renewed by and continued in full force and effect in accordance with the terms and conditions of this Agreement and the Amended and Restated Term B Loan Notes and shall not be extinguished except
that the original principal amount of the Prior Note shall hereby be reduced such that the aggregate principal amount of the Amended and Restated Term B Loan Notes shall equal the Term B Loan Commitments of the Lenders; (c) the entering into
and performance of their respective obligations under the Loan Documents and the transactions evidenced hereby do not constitute a novation nor shall they be deemed to have terminated, extinguished or discharged the Indebtedness under the Prior
Note, all of which Indebtedness shall continue under and be governed by this Agreement and the other Loan Documents, and (d) the Obligations, including the Obligations evidenced pursuant to the Amended and Restated Term B Loan Notes, shall be
secured by the liens and security interest of that certain Deed of Trust with Assignment of Rents, Security Agreement and Financing Statement executed by Peerless to Susan Cox, as trustee, for the benefit of PMFG, dated as of August 14, 2012,
and recorded on August 16, 2012 as Document No. 2012-90493 in the Records, as assigned to Administrative Agent (for the benefit of Lenders) by the Assignment, as amended and restated in its entirety by that certain Amended and Restated
Deed of Trust with Assignment of Rents, Security Agreement, and Financing Statement executed by Peerless to Mary C. Tucker, as trustee, for the benefit of Administrative Agent as Beneficiary. 

[SIGNATURES BEGIN NEXT PAGE] 

  
 CREDIT AGREEMENT
– Page 134 

 The parties hereto have caused this Agreement to be duly executed as of the day and year
first above written. 
  

							
	 BORROWER:
	 		 	PMFG, INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	/s/ Ron L McCrummen
		 		 		 	Ron L. McCrummen
		 		 		 	 Chief Financial Officer, Assistant Secretary
 and Treasurer

			
		 		 	PEERLESS MFG. CO.,
		 		 	a Texas corporation
				
		 		 	 By:
	 	/s/ Ron L McCrummen
		 		 		 	Ron L. McCrummen
		 		 		 	Treasurer

  
 CREDIT AGREEMENT
– Signature Page - 1 

 
			
	CITIBANK, N.A., as a Lender, Administrative Agent,
	Swingline Lender and Issuing Bank
		
	By:	 	/s/ Deborah T. Purvin
		 	Deborah T. Purvin
		 	 Senior Vice President

  
 CREDIT AGREEMENT
– Signature Page - 2 

 
			
	COMPASS BANK, as Lender
		
	By:	 	/s/ Dean Rosencrans
		 	Dean Rosencrans
		 	 Senior Vice President

  
 CREDIT AGREEMENT
– Signature Page - 3 

 
			
	HSBC BANK, USA, N.A., as Lender
		
	By:	 	/s/ Robert Clouse
		 	Robert Clouse
		 	 VP Relationship Manager

  
 CREDIT AGREEMENT
– Signature Page - 4 

 ANNEX I 
 COMMITMENTS 
  

																	
	 Lender
	  	Term A
Loan
Commitment	 	  	Term B
Loan
Commitment	 	  	Revolving
Credit
Commitment	 	  	Applicable
Percentage	 
	 Citibank
	  	$	952,380.95	  	  	$	4,761,904.76	  	  	$	14,285,714.29	  	  	 	47.61904762	% 
	 Compass Bank
	  	$	476,190.48	  	  	$	2,380,952.38	  	  	$	7,142,857.14	  	  	 	23.80952381	% 
	 HSBC Bank, USA
	  	$	571,428.57	  	  	$	2,857,142.86	  	  	$	8,571,428.57	  	  	 	28.57142857	% 
					
	 Total
	  	$	2,000,000	  	  	$	10,000,000	  	  	$	30,000,000	  	  	 	100.00000000	% 

  
 Annex I – Page 1

 ANNEX II 
 TERM B LOANS 
 A. Conditions to Initial Loan Advance. The obligation
of Term B Loan Lenders to make the initial Advance under the Term B Loan is subject to the prior or simultaneous occurrence or satisfaction of each of the following conditions (or waiver of such conditions in accordance with
Section 12.02): 
 (a) Effective Date Conditions. The conditions set forth in
Section 6.01 shall have been satisfied (or waived in accordance with Section 12.02). 

(b) Amended and Restated Waiver and Covenant Not to Sue. Administrative Agent shall have received an amendment and
restatement of that certain Waiver and Covenant Not to Sue executed by SSAE Development LLC on August 6, 2012 and recorded as Instrument No. 2012-86962 in the Official Records of Denton County, Texas (the “Waiver”), on terms
similar to those in the Waiver or on the then applicable City of Denton form, with such modifications as are necessary to correct the errors in the Waiver, in Administrative Agent’s reasonable opinion, including having the document executed by
Peerless Mfg. Co., define “on site” as relating only to the property owned by Peerless Mfg. Co., and not require the completion of any public improvements that are not covered by the Budget and agreement with the General Contractor.

 (c) Governmental Requirements. The Administrative Agent shall have received evidence of compliance by
the Borrower with all Governmental Requirements relating to the construction of the Improvements. 
 (d)
Plats. The Administrative Agent shall have received a full-size, single sheet copy of all recorded subdivision or plat maps of the Denton Property approved (to the extent required by Governmental Requirements) by all Governmental Authorities,
if applicable. 
 (e) Title Insurance. With respect to the Denton Property, the Administrative Agent shall
have received the Title Insurance duly issued by the Title Company, at the sole expense of the Borrower. The Administrative Agent shall have received, at the Borrower’s expense, and shall have approved, all instruments representing exceptions
to the state of title to the Land, the Improvements, and any other improvements on the Land. 
 (f)
Survey. The Administrative Agent shall have received a current survey of the Land and any then existing improvements thereon, if any, as required pursuant to and in conformity with Section E(m) of Annex II. 

(g) Contingency Account. Borrower shall have created and funded the Contingency Account. 

(h) Appraisal. The Administrative Agent shall have received, at the sole expense of the Borrower, a current
appraisal of the Land and Improvements prepared by a qualified MAI appraiser (who is completely independent from the Borrower, each Loan 

 
Party, and their Affiliates and related persons, and is acceptable to and engaged by the Administrative Agent), in form, scope and substance acceptable to the Administrative Agent, in conformity
with the requirements of the Administrative Agent, and approved in accordance with the requirements of the Administrative Agent, showing the “as is” value, the “completed” value, the “completed and stabilized” value,
and/or such other valuations as may be required by the Administrative Agent. 
 (i) Soils Report. The
Administrative Agent shall have received and approved a soils report pursuant to and in conformity with Section E(n)(i) of Annex II. 
 (j) Environmental Report. The Administrative Agent shall have received and approved an environmental site assessment in conformity with Section E(n)(ii) of Annex II.

 (k) Insurance. The Administrative Agent shall have received proof that the Borrower has obtained all
insurance required by the Loan Documents to be obtained prior to the commencement of construction, including without limitation, the insurance required by this Annex II. 

(l) Recordation. The applicable Mortgage with respect to the Denton Property and any other Loan Documents which are
to be recorded or filed must have been duly recorded and filed. 
 (m) Affidavit of Commencement. If
required or permitted by applicable Law, the Borrower shall file, on or before the deadline therefor as established by applicable Law, an affidavit or certificate (“Affidavit of Commencement”) of commencement of construction
of the Improvements, duly executed by the Borrower, the General Contractor and/or any other Person required by applicable Law, in the appropriate records of the county in which the Land is situated. A copy of same shall be furnished to the
Administrative Agent. Borrower shall have recorded the executed Affidavit of Commencement. 
 (n) Others.
The Administrative Agent shall have received from the Borrower such other instruments, evidence, and certificates as the Administrative Agent may reasonably require, including the items indicated below, all of which must be in form and substance
reasonably satisfactory to the Administrative Agent: 
 (i) all Denton Property reports and budgets required
pursuant to the Loan Documents or otherwise by the Administrative Agent in connection with the Term B Loan application and approval process; 
 (ii) certificates evidencing the Borrower has obtained all insurance required by the Loan Documents with respect to the Denton Property and the Improvements; 

(iii) evidence that all Taxes levied against or affecting the Denton Property have been paid current; 

  
 2 

 (iv) evidence that the Denton Property is not situated within any designated
flood plain or special flood hazard area; or evidence that the Borrower has applied for and received flood insurance covering the Denton Property in the amount of the Term B Loan or the maximum coverage available to the Administrative Agent;

 (v) if requested by the Administrative Agent, an insured closing letter from the Title Company as to the title
agent handling the closing; 
 (vi) evidence that the Land has access to and from a public, dedicated
right-of-way installed and accepted by applicable Governmental Authorities; 
 (vii) if requested by the
Administrative Agent, a site plan reflecting the proposed Improvements and/or development of the Land; 
 (viii)
a copy of the Construction Plans, the Construction Contract with the general contractor and the Design Services Contract with the architect; 
 (ix) a detailed line item budget for the construction of the Improvements, in form and substance acceptable to the Administrative Agent (the “Term B Loan Budget”), in its sole discretion,
including a cost breakdown showing the total costs, including such related non-construction items as interest during construction, commitment, legal, design professional and real estate agents’ fees, plus direct construction costs required to
be paid to satisfactorily complete the Improvements free and clear of liens or claims for liens for material supplied and labor performed; 
 (x) the Construction Schedule; 
 (xi) letters from the applicable
Governmental Authorities or other evidence reasonably acceptable to the Administrative Agent confirming that all utilities and municipal services necessary or appropriate for the operation of the Improvements, including without limitation, sanitary
and storm sewer facilities, potable water, telephone, electricity, gas and municipal services, are available at or to the boundary of the Land in sufficient capacity to serve the Improvements as herein contemplated; 

(xii) copies of all subcontracts and agreements with Major Subcontractors to the development, construction and completion
of the Improvements or pertaining to materials to be used in connection therewith; 
 (xiii) evidence that all
applicable impact fees, use fees, utility reservation deposits, connection fees, and other fees and assessments related to the streets and utilities servicing or proposed to service the Land and/or Improvements have been paid or are included in the
Term B Loan Budget, including such fees and assessments which are required to make such utility services available for use; 

  
 3 

 (xiv) if any restrictive covenants or zoning ordinances are applicable to
the Denton Property, evidence that there are no violations of such covenants or zoning ordinances, the contemplated use of such Denton Property will not violate such covenants, and such other matters reasonably required by the Administrative Agent;

 (xv) building permit(s), grading permit(s) and all other permits required with respect to the construction of
the Improvements; 
 (xvi) the collateral assignments set forth in Section 2.11(d). 

B. Conditions to Each Advance. In addition to the requirements and conditions set forth in Section 6.03, the
obligation of the Term B Loan Lenders to make each Advance hereunder, including the initial Advance (unless otherwise specifically stated below), shall be subject to the prior or simultaneous occurrence or satisfaction of each (as applicable) of the
following conditions: 
 (a) Title Date Down. The Administrative Agent shall have received a down date
title endorsement, dated within five (5) days of the requested Advance (other than the initial Advance), from the Title Company showing no state of facts objectionable to the Administrative Agent, including a showing that title to the Land is
vested in the Borrower and that no claim for mechanics’ or materialmen’s Liens had been filed against the Denton Property, except a Lien that is being contested pursuant to and in compliance with the Loan Documents. 

(b) Compliance and Covenants. The Borrower and Guarantors shall have fully complied with and performed in all
material respects all covenants made by the Borrower and Guarantors to the Administrative Agent that are to be complied with or performed on or before the date of the Advance pursuant to the provisions of any of the Loan Documents, and if requested
by the Administrative Agent, the Borrower shall provide the Administrative Agent with a certificate to that effect; provided, however, if any covenants require tests or calculations that are performed on other than a monthly basis, Borrower shall
not be required to certify compliance as to those tests other than immediately following the period in which such tests were required. 
 (c) Perfected First Priority Lien Position. The Lien in favor of the Administrative Agent on behalf of the Secured Parties against the Denton Property and security interest in all personal Property
described in the applicable Mortgage shall be duly perfected in a first priority Lien position. 
 (d) Draw
Request Conditions. Each such Draw Request shall be completed, executed, and sworn to by the Borrower and, if required by the Administrative Agent, by the General Contractor and Design Professional. If requested by the Administrative Agent, each
Draw Request must have been approved by the Inspector, or if approved by the Administrative Agent, Inspector’s approval can be deferred. Each such Draw Request shall certify and reflect such matters as the Administrative Agent may require,
including (i) that the requested amount does not exceed one hundred percent (100%) of the then 

  
 4 

 
unpaid cost of construction of the Improvements since the last Draw Request furnished hereunder; (ii) that said construction was performed in accordance with the Construction Plans;
(iii) that the Draw Request, and matters reflected therein, are in conformity with the Term B Loan Budget; and (iv) that construction of the Improvements can be completed on or before the Completion Date for additional costs not in excess
of the amount then available under the Term B Loan Commitments plus the amount (if any) in the Advance Account and any Special Account for such purpose. A copy of the current form of draw request used by Administrative Agent is attached hereto as
Exhibit F. 
 (e) Lien Waivers, Invoices and Other Information. The Borrower shall have furnished to the
Administrative Agent, from the General Contractor, (i) a Lien waiver and release, in the form or forms attached hereto as Exhibit L, as requested by the Administrative Agent, for all work and materials covered by the immediately preceding Draw
Request, except with respect to a Lien that is being contested pursuant to and in compliance with the applicable Mortgage, and (ii) such other instruments and documents as the Administrative Agent may from time to time reasonably request,
including an invoice, statement, or bill for any work performed or completed or materials furnished (whether on the Land or off-site), in form and content, as the Administrative Agent may reasonably require. Lien waivers and releases will not be
required with respect to work covered by the soft costs Allocations specified in the Term B Loan Budget; however, copies of invoices, statements or bills for work performed and materials furnished will still be required. 

(f) No Casualty. The Improvements shall not have been destroyed or damaged by fire or other casualty which has not
been repaired to the reasonable satisfaction of the Administrative Agent, nor shall any material part of the Denton Property be subject to condemnation proceedings or negotiations for sale in lieu thereof. 

(g) Personal Property Location. All personal Property not yet incorporated into the Improvements, but which is to
be paid for out of such Advance, must then be located upon the Land, or secured in a method reasonably acceptable to the Administrative Agent, and if requested by the Administrative Agent, Administrative Agent shall have received evidence thereof.

 (h) Construction Progress. All work typically done at the stage of construction when the Advance is
requested shall have been done, and all materials, supplies, chattels and fixtures typically furnished or installed at such stage of construction shall have been furnished or installed. 

(i) Inspector. Borrower shall have materially complied with all requirements of the Inspector and all Governmental
Authorities. 
 (j) Construction Reports. Except in connection with the initial Advance, the Borrower
shall have furnished to the Administrative Agent and/or the Inspector a fully executed counterpart of each Construction Contract or copy thereof (to be dated after the date of recordation of the Mortgages), such city inspection reports, budget
variance reports, and other matters with respect to the construction of the Improvements as may be 

  
 5 

 
reasonably requested by the Administrative Agent, including without limitation, a report of any changes, replacements, substitutions, additions or other modification in the list of contractors,
subcontractors and materialmen involved or expected to be involved in the construction of the Improvements. 

(k) Borrower Disbursement. The Borrower shall have disbursed, or the Borrower shall be disbursing with the
requested Advance, (i) all funds in the Advance Account, (ii) all Borrower’s Deposits made or required to be made as of the date of the Advance, and (iii) any funds in a Special Account that are intended to be used in connection
with or before the subject Advance, except to the extent any of the foregoing are being held in connection with a bona fide dispute with the payee. 
 (l) Further Assurances. The Administrative Agent shall have received such other documents and items as it may reasonably have requested at any time prior to, concurrently with or subsequent to the
execution of this Agreement, each of which must be reasonably acceptable to the Administrative Agent. 
 (m)
Contracts. If requested by the Administrative Agent, the Administrative Agent shall have received copies of and approved all Denton Property Contracts in existence on the date of the Advance. 

(n) Certification. The Borrower shall have certified to the Administrative Agent that the Borrower has no claims,
causes of action, or demands against Administrative Agent or defenses or offsets to the payment of the Term B Loan or any other amounts due under the Loan Documents. 
 Before any Advance is made, all applicable conditions to the Advance must have been satisfied at the Borrower’s sole cost and expense in a manner reasonably acceptable to the Administrative Agent.
The Borrower acknowledges that delays in an Advance may result from the time required by the Administrative Agent to verify satisfactory fulfillment of any and all conditions to a given Advance, and hereby consents to such delays. Unless the
Administrative Agent has provided its agreement in writing to the contrary, each Draw Request constitutes the Borrower’s representation and warranty to the Administrative Agent that (i) all prior disbursements, as well as that currently
being requested, were and will be used in strict compliance with the Term B Loan Budget, the approved Draw Requests, and the other Loan Documents, (ii) no Default or Event of Default, or any event, circumstance or action, which with the giving
of notice, passage of time or both would give rise to a Default or Event of Default, has occurred and exists under any of the Loan Documents, (iii) all applicable conditions in this Agreement for the subject Advance have been satisfied; and
(iv) the undisbursed proceeds of the Term B Loan Commitments together with the balance of the Advance Account and the balance of any Special Account established for the following purposes are sufficient to pay all costs related to completion of
the Improvements (including issuance of all permits, licenses, and certificates related to the completion and use), plus other costs which may accrue related to the Improvements or the Land during the construction period, plus any other unpaid costs
contained in the Term B Loan Budget. 

  
 6 

 C. Conditions to the Final Advance. The Administrative Agent has no obligation to
make the final Advance unless the Administrative Agent has received the following: 
 (a) Certificates of
Occupancy. Certificates of Occupancy (or their equivalent) issued by all appropriate Governmental Authorities for all parts of the Improvements. 
 (b) As-Built Survey. An “as-built” Survey approved in writing by the Administrative Agent. 
 (c) Completion Certification. A written certification from the Inspector in the form of AIA Document G704, executed by the Borrower’s general contractor and the Borrower, certifying
(i) that completion has occurred; (ii) the date of completion; (iii) that direct connection has been made to all appropriate utility facilities; and (iv) that the Improvements are ready for occupancy. 

(d) As-Built Plans and Specifications. A complete set of “as-built” plans and specifications for the
Improvements, certified as accurate by the Borrower’s general contractor. 
 (e) Affidavit of Bills
Paid. An affidavit of bills paid in the form of AIA Document G706 executed by each Contractor and any other Person the Administrative Agent requires. 
 (f) Title Exceptions. An endorsement to the Title Insurance deleting all exceptions related to “completion of the improvements” and “pending disbursements.” 

(g) Personal Property Inventory. A complete inventory certified by the Borrower of the furniture, furnishings,
fixtures and equipment owned or leased by the Borrower and used in the operation of the Improvements, with leased items, if any, designated as such. 
 (h) Completion Certificate. The Administrative Agent has received a completion certificate prepared by the Inspector and executed by the Borrower and the Design Professional stating that the
Improvements have been completed in accordance with the Construction Plans, together with such other evidence that no mechanics or materialmen’s liens or other encumbrances have been filed and remain in effect against the Mortgaged Property and
that all offsite utilities and streets have been completed to the reasonable satisfaction of the Administrative Agent and any applicable Governmental Authority. 
 (i) Further Evidence. Evidence that thirty-one (31) days shall have elapsed from the later of (i) the date of completion of the Improvements, as specified in Texas Property Code
§53.106, if the Affidavit of Completion provided for in this Agreement is filed within ten (10) days after such date of completion, or (ii) the date of filing of such Affidavit of Completion if such Affidavit of Completion is filed
ten (10) days or more after the date of the completion of the Improvements as specified in Texas Property Code §53.106. 

  
 7 

 (j) Evidence of Compliance. Evidence that the Improvements and their
use comply fully with any and all applicable zoning, subdivision, building and environmental requirements and other Governmental Requirements. Such evidence must include documentation establishing that the zoning and/or subdivision approval is based
on no requirement or condition involving any real property, or rights appurtenant thereto, other than the property encumbered by the Mortgages, that the number of parking spaces available on the Land is sufficient to comply with the codes and
ordinances of the city where the Land is situated or other appropriate Governmental Authority, and that all fire systems in the Improvements are installed, operational and sufficient to comply with all applicable codes and ordinances. 

(k) Other Evidence. Any other evidence or information concerning Completion that the Administrative Agent
reasonably requires. 
 D. Construction Representations. 

(a) Governmental Requirements. No material violation of any Governmental Requirements exists with respect to the
Denton Property. To Borrower’s knowledge, the Improvements, when constructed in accordance with the Construction Plans, will comply with all applicable Governmental Requirements and Requirements of Law. 

(b) Utility and Municipal Services. All utility services of sufficient size and capacity necessary for the
operation of the Improvements for their intended purposes are available at or within the property line of the Land, including potable water, storm drainage, sanitary sewer, gas, electric, and telephone facilities, and such utilities have been
accepted by applicable Governmental Authorities if required. 
 (c) Easements; Access. All easements and
rights-of-way required by all Governmental Authorities and from private parties for the construction of the Improvements and the use and operation of the Denton Property for its intended purposes (including for all utility services and all access)
have been obtained and recorded in the appropriate records of the county in which the Land is located. All off-site roads necessary for the full utilization of the Land and Improvements for their intended purposes have been completed, dedicated to
the public use, and accepted by the appropriate Governmental Authorities. 
 (d) Uses. The present and
intended uses of the Denton Property are permitted by, and comply with, all zoning ordinances, subdivision and platting requirements, deed restrictions, other restrictive covenants, licensing requirements, building codes, flood disaster and
Environmental Laws, and other Governmental Requirements and Requirements of Law affecting the use or occupancy of the Denton Property. 
 (e) Flood Plain. No portion of the Denton Property is located within any designated flood plain or special flood hazard area, or if the Land is in flood hazard area, and the Administrative Agent
has approved same (such approval being in the sole and absolute discretion of the Administrative Agent), the Borrower has executed the Administrative Agent’s Notice of Flood Hazard Area and/or such other documentation required by the
Administrative Agent, and the Borrower has obtained and will maintain flood insurance coverage for the Denton Property as otherwise specified herein. 

  
 8 

 (f) Plat. To Borrower’s knowledge, the Land has been duly
platted in accordance with applicable Governmental Requirements to allow for the Improvements and its intended uses as herein contemplated, which plat has been approved and executed by all appropriate Governmental Authorities and duly has been
recorded. 
 (g) No Proceedings. None of the following will cause or have a Material Adverse Effect:
(i) any actions, suits, or proceedings, at Law or in equity, pending before any Governmental Authority or arbitrator or, to the best of Borrower’s knowledge and belief, after due inquiry, threatened against or involving the Denton
Property; (ii) outstanding or unpaid judgments against the Denton Property. 
 (h) Construction Plans;
Construction Contract; Design Services Contract. The Construction Plans, Construction Contract (when executed by Borrower), and Design Services Contracts are satisfactory to the Borrower, are to the best of the Borrower’s knowledge,
(i) in compliance with all applicable Governmental Requirements and Requirements of Law, (ii) to the extent required by any applicable Governmental Requirements or Requirements of Law, have been approved by each party required by such
Governmental Requirements or Requirements of Law, and (iii) have each been fully and duly executed by all parties thereto. The Borrower’s interest therein is not subject to any claim, setoff, or encumbrance. The copy of each Construction
Contract (when executed by the Borrower), Design Services Contract, and the Construction Plans that the Borrower has furnished or will furnish to Administrative Agent is or will be (as applicable) a true and complete copy thereof, including all
exhibits and amendments thereto, if any. The Construction Plans are complete in all material respects, contain all necessary detail for construction of the Improvements, and have been signed and sealed by the Design Professional(s) who prepared such
Construction Plans. 
 (i) Leases. There are no leases with respect to the Denton Property. 

(j) Denton Property Contracts. To the Borrower’s best knowledge, all Denton Property Contracts (if any) have
been duly executed by all parties thereto and are in full force and effect. The Borrower is not, and to the Borrower’s best knowledge, no other party is, in default, and there exists no event or fact that with the giving of notice, the passage
of time, or both, would constitute a default under any material Denton Property Contract. 
 (k) Land. The
Land is not part of a larger tract of land owned by the Borrower or any third-party, is not otherwise included under any unity of title or similar covenant with other lands not encumbered by the applicable Mortgage relating to the Denton Property,
and constitutes a separate tax lot or lots with a separate tax assessment or assessments for the Land and Improvements, independent of those for any other lands or improvements. 

  
 9 

 (l) No Transfer. The Borrower has not directly or indirectly
conveyed, assigned, or otherwise disposed of or transferred (or agreed to do so) any development rights, air rights, or other similar rights, privileges, or attributes with respect to the Denton Property, including those arising under any zoning or
land use ordinance or other Governmental Requirement or Requirement of Law. 
 (m) Other Contracts. Except
as otherwise provided for in the Loan Documents, the Borrower has made no contract or arrangement of any kind the performance of which by the other party thereto would give rise to a Lien or a right to a Lien on the Denton Property. 

(n) Sale of the Denton Property. The Borrower has no current plans to sell and has not entered into any agreement
to sell or to provide any Person an option to purchase all or any portion of the Denton Property. 
 E. Construction
Covenants. 
 (a) Construction Plans, Construction Contract, and Design Services Contract Approvals and
Amendments. The Borrower shall deliver to the Administrative Agent a true and complete copy of the Construction Plans, the Construction Contract (when executed), and the Design Services Contract for the Administrative Agent’s review,
including each amendment or supplement thereto. 
 (b) Construction. Subject to Force Majeure, the
Borrower will use commercially reasonable efforts to cause the construction of the Improvements (i) to be constructed pursuant to the Construction Contract; (ii) to commence by the Commencement Date and to be prosecuted with diligence and
continuity until completion; (iii) to be constructed in a good and workman like manner; (iv) to materially comply with the Construction Plans and all applicable Governmental Requirements and Requirements of Law; and (v) to be
completed on or before the Completion Date, free and clear of Liens or claims for Liens, except for liens created by the Loan Documents and any Liens inferior to the Lien of the Loan Documents which inferior Liens have been approved in writing by
the Administrative Agent. The Borrower will use commercially reasonable efforts to resolve all disputes arising in connection with the construction of the Improvements in a manner allowing the construction to proceed expeditiously and to be
completed by the Completion Date. 
 (c) Contracts. The Borrower will (i) deliver to the
Administrative Agent, or its representatives, promptly upon demand, counterparts and, if reasonably requested by the Administrative Agent, conditional assignments, of any and all contracts, bills of sale, chattel paper, statements, conveyances,
receipted vouchers, or agreements of any nature under which the Borrower claims title to any materials, fixtures, or personal Property used or to be used in the construction of the Improvements; (ii) either cause each Construction Contract and
Design Services Contract to contain a provision specifically subordinating any Lien right against the Denton Property to the Liens and security interests created by the Loan Documents or cause the other party thereto to execute any and all
instruments, reasonably acceptable in form and substance to the Administrative 

  
 10 

 
Agent, to accomplish the same; (iii) cause each Construction Contract to be based on a fixed price or a guaranteed maximum contract amount consistent with the Term B Loan Budget;
(iv) if the Administrative Agent shall request, furnish the Administrative Agent with a list of subcontractors (including laborers, materialmen, and any others) who are to provide materials for or perform work with respect to the Improvements,
and promptly notify the Administrative Agent of any changes to any list provided to the Administrative Agent; and (v) comply with and satisfy all the material terms and conditions of the Borrower under the Construction Contract, the Design
Services Contract, and any other Denton Property Contracts. 
 (d) Inspector; Inspections. The
Administrative Agent shall be entitled to engage one or more Inspectors from time to time to assist the Administrative Agent with any and all matters related to the development and construction of the Denton Property, including (i) review and
advice as to the Construction Plans, each Construction Contract, and each Design Services Contract, and any change orders or amendments thereto; (ii) review and advice as to the Term B Loan Budget, Construction Schedule, Draw Requests, cost
breakdowns, other schedules, affidavits, certificates, reports, tests, and other matters prepared in connection with the construction of the Improvements; (iii) adherence to the Construction Plans, Construction Schedule, and any other schedules
or reports and progress thereof; (iv) review and advice as to required permits, licenses, and compliance with Governmental Requirements and Requirements of Law; (v) coordination with the Borrower, the Contractor, the Design Professional,
and the Governmental Authorities in connection with any of the foregoing; and (vi) assistance with any other matter related to the construction of the Improvements or the Denton Property or the proposed use of the Denton Property as the
Administrative Agent may reasonably request. The Borrower will pay the commercially reasonable fees and expenses of, and cooperate with, the Inspector, and will cause the Design Professional, the Contractor, and each of the subcontractors and the
employees of each of them, to cooperate with the Inspector, and, upon request by the Administrative Agent or Inspector, the Borrower will furnish the Inspector whatever the Inspector may reasonably consider necessary or useful in connection with the
performance of the Inspector’s duties. Without limiting the generality of the foregoing, the Borrower shall furnish or cause to be furnished for review and copy, the Construction Plans and details thereof, working drawings, schedules, reports,
tests, samples of materials, licenses, permits, certificates of the Governmental Authorities, zoning ordinances, building codes, lists of and contact information for all contractors, subcontractors, and materials suppliers, and copies of contracts,
change orders, and amendments which relate to the Denton Property (including construction thereof). The Borrower agrees to comply with all reasonable requirements of the Inspector with respect to any Draw Request or construction issues. The Borrower
will permit the Administrative Agent, the Inspector, and/or their representatives to enter the Denton Property for the purposes of inspecting same and performing their rights granted pursuant to the Loan Documents. The Borrower acknowledges that the
duties of the Inspector run solely to the Administrative Agent and that the Inspector shall have no obligations or responsibilities whatsoever to the Borrower, the Design Professional, the Contractor, or to any of the Borrower’s, the Design
Professional’s, or the Contractor’s agents, employees, contractors, or subcontractors. The Administrative Agent can authorize in writing the Inspector, in the Administrative Agent’s sole discretion, to accept

  
 11 

 
delivery of any item that the Borrower is to deliver to the Administrative Agent and to provide any approval that the Administrative Agent is to provide. If the Inspector has been so authorized
in writing, delivery of the authorized item to the Inspector shall be deemed delivery to the Administrative Agent and an approval by the Inspector shall be deemed an approval by the Administrative Agent; provided that the Borrower can only
rely on the Inspector being so authorized if the Borrower has received written confirmation of such authorization by the Administrative Agent. 
 (e) Insurance. The Borrower shall, at the Borrower’s own expense, obtain, maintain, and keep in full force and effect, at all times prior to the full payment and satisfaction of all
Indebtedness and Obligations, property, commercial general liability, and other types and forms of insurance coverage with respect to the Denton Property and activities conducted thereon as may be required by the Administrative Agent in accordance
with the Administrative Agent’s insurance requirements as delivered to the Borrower from time to time, including but not limited to the following: 
 (i) Builder’s Risk Insurance. Prior to commencing and during any construction on the Land, builder’s risk insurance with respect to the General Contractor, including theft, to insure,
without limitation, all buildings, machinery, equipment, materials, supplies, temporary structures, foundations, other underground property, personal Property, and all other Property of any nature on-site, off-site, and while in transit which is to
be used in fabrication, construction, and completion of the Improvements (other than tenant finish-out improvements not financed hereby) being constructed, and to remain in effect until all such Improvements being constructed have been completed and
accepted by the Borrower and the Administrative Agent (or the Administrative Agent’s designee) and a Certificate of Occupancy has been issued. Such insurance shall be provided on a replacement cost value basis and shall (i) be on a
non-reporting, completed value, form; (ii) cover damage to landscaping and debris removal expense (including removal of pollutants); (iii) provide that the Borrower can complete and occupy the premises without further written consent from
the insurer; (iv) cover loss of income resulting from delay in occupancy, loss and damage to the Denton Property due to faulty or defective workmanship or materials and error in design or specification, and loss while the Denton Property is in
the care, custody and control of others to whom the Denton Property may be entrusted; (v) not exclude losses due to explosions or collapses or underground hazards; (vi) cover soft costs and continuing expenses not directly involved in the
direct cost of construction or renovation, including interest on money borrowed to finance construction or renovation, advertising, promotion, real estate taxes and other assessments, the cost of renegotiating leases, architectural and engineering
costs, legal and accounting costs, and other expenses incurred as the result of property loss or destruction by the insured peril; (vii) cover riots, civil commotion, vandalism, and malicious mischief; (viii) not contain any safeguard
warranties; and (ix) not contain any monthly limitation. 

  
 12 

 (ii) Property Insurance. Prior to termination of the builder’s
risk insurance obtained pursuant to Section D(e)(i) of this Annex II or issuance of a Certificate of Occupancy, whichever occurs first, and with respect to any of the Denton Property which is not the subject of construction pursuant to the
Construction Plans and which is otherwise covered by a builder’s risk insurance policy, the Borrower shall have obtained and maintained an “all-risk” or “broad form” insurance insuring the Denton Property from all perils
generally covered by such policy type. The amount of such insurance shall be not less than one hundred percent (100%) of the full replacement cost of the Improvements, without reduction for depreciation. The determination of the replacement
cost amount shall be adjusted annually to comply with the requirements of the insurer issuing such coverage or, at the Administrative Agent’s election, by reference to such indexes, appraisals, or other information as the Administrative Agent
determines in its reasonable discretion. Each policy or policies shall contain a replacement cost endorsement and either an agreed amount endorsement (to avoid the operation of any co-insurance provisions) or a waiver of any co-insurance provisions,
all subject to the Administrative Agent’s approval. 
 (iii) Flood Insurance. If any portion of the
Improvements is located in an area identified by the United States Secretary of Housing and Urban Development as an area having special flood hazards and in which flood insurance has been made available under the National Flood Insurance Act of 1968
and Flood Disaster Protection Act of 1973, as amended, the Borrower shall insure the Improvements against loss by flood in an amount at least equal to the outstanding principal amount of the Obligations or the maximum limits of coverage available
with respect to the Denton Property, whichever is less. 
 (iv) Contractor Insurance. If requested by the
Administrative Agent with respect to any time improvements are under construction on the Land, the Borrower shall cause each Contractor performing any of such construction work to maintain worker’s compensation insurance or other applicable
insurance providing coverage for injuries to such Contractor’s personnel, auto liability insurance, and general liability insurance, all in amounts and providing coverage as is reasonably acceptable to the Administrative Agent. 

(v) Commercial General Liability Insurance. Commercial general liability insurance coverage for bodily injury and
property damage related to the ownership, maintenance, and use of the Denton Property. The Administrative Agent may require such policies to: (A) be no less than $2,000,000.00 per occurrence and $5,000,000.00 in the aggregate for all
occurrences; (B) insure against such risks of liability as are commonly covered by broad form commercial liability policies in general use for owners of properties similar to the Denton Property, and such other risks as the Administrative Agent
may from time to time designate for coverage under the Borrower’s policies; and (C) include the Administrative Agent on behalf of the Lenders, and its successors and assigns, as additional insured. 

  
 13 

 (vi) Business Interruption Insurance. After Completion, if requested
by the Administrative Agent at any time, the Borrower shall provide, and maintain in force, at the Borrower’s sole expense, business interruption insurance or other forms of coverage to protect the income or earnings of the Denton Property, in
form, coverage, and liability amount acceptable to the Administrative Agent. Such policy shall provide coverage for a period of twenty four (24) months. 
 (vii) Other Insurance. Such additional insurance as the Administrative Agent may from time to time reasonably require against other insurable hazards, perils, injuries, damages, or other risks,
including worker’s compensation, auto liability, boiler and machinery, earthquake, and environmental impairment liability coverage; provided that the Administrative Agent may only require coverage for risks not required by the
Administrative Agent at origination of the Term B Loans if such risks are commonly required to be insured against by the Administrative Agent for similar circumstances or risks, and provided such insurance is reasonably available. 

Each policy of insurance required pursuant hereto shall be in an amount, for a term, and in a form and content, shall
contain such deductibles, shall insure against such hazards, perils, injuries, damages, and other risks, and shall be provided through such insurance companies that are authorized to do business in the state in which the Land is situated, as may be
reasonably satisfactory to the Administrative Agent, and shall, if required by the Administrative Agent, be delivered to and remain in the possession of the Administrative Agent as further security for the Obligations. Such policy or policies of
insurance (except insurance provided pursuant to Sections D(e)(iv) and (e)(v) of this Annex II and worker’s compensation) shall contain an endorsement or agreement by the insurer that any loss shall be payable to the
Administrative Agent, its successors and assigns (and not payable jointly to the Borrower or other insureds), including, as applicable, a loss payee or mortgagee clause endorsement, in favor of and in form reasonably acceptable to the Administrative
Agent. Any commercial liability insurance policy required by Sections D(e)(iv) and (e)(v) of this Annex II shall name the Administrative Agent for and on behalf of the Lenders as an additional insured pursuant to an endorsement
reasonably acceptable to the Administrative Agent. Without implying a right to obtain co-insurance, all co-insurance requirements (if any) shall be met at all times. Each insurance policy issued in connection herewith shall provide by way of
endorsements, riders or otherwise that: (x) the coverage of the Administrative Agent for and on behalf of the Lenders shall not be terminated, reduced, or affected in any manner regardless of any breach or violation by the Borrower of any
warranties, declarations, or conditions in such policy; (y) no such insurance policy shall be canceled, endorsed, altered, or reissued to effect a change in coverage for any reason and to any extent whatsoever unless such insurer shall have
first given the Administrative Agent thirty (30) days prior written notice thereof; and (z) the Administrative Agent may, but shall not be obligated to, make premium payments to prevent any cancellations, endorsement, alteration,

  
 14 

 
or reissuance, and such payments shall be accepted by the insurer to prevent same. The Administrative Agent shall be furnished with a certificate of insurance for each policy and if requested by
the Administrative Agent, a copy of each such initial policy coincident with the execution hereof and a certificate of insurance for each policy and if requested by the Administrative Agent, the original of each renewal policy not less than thirty
(30) days prior to the expiration of the initial or applicable renewal policy and a certificate of insurance for such policy, together with receipts or other evidence that the premiums thereon have been paid for one (1) year. The Borrower
may satisfy the requirements hereof by use of a so-called “blanket policy,” provided that the coverage is not diminished and the coverage is separately and individually allocated to the Denton Property. As further security for the
Obligations, the Borrower hereby assigns to the Administrative Agent all unearned premiums on any such policy, and agrees that any and all unexpired insurance shall inure to the benefit of, and pass to, the Administrative Agent (or any other
purchaser) upon acquisition by the Administrative Agent (or such purchaser) of the Denton Property, or any applicable portion thereof, through foreclosure proceedings. 

The Borrower shall promptly pay all premiums when due on any such policies and renewals thereof and shall furnish the
Administrative Agent with written evidence of such payment. The Borrower shall be entitled to draw for such costs to the extent available pursuant to the applicable Allocation in the Term B Loan Budget. In the event the Borrower fails to provide
insurance complying with the provisions hereof or fails to pay the premium therefor, the Administrative Agent may, but without obligation so to do, without notice to the Borrower, without demand upon Borrower, without releasing the Borrower from any
obligation hereof, and without curing and Event of Default, obtain insurance, in any amounts determined by the Administrative Agent, through or from any insurance agency or insurer or insurance underwriter acceptable to the Administrative Agent, and
pay the premium therefor, and the Administrative Agent by doing so shall not be chargeable with obtaining or maintaining such insurance or for the collection of any insurance monies or for any insolvency of any insurer or insurance company. Any such
insurance obtained by the Administrative Agent shall be solely for the benefit and protection of the Administrative Agent, and cannot be relied on by the Borrower for protection of the Borrower or any of its interests in the Denton Property. All
such costs incurred by the Administrative Agent shall be part of the Indebtedness and shall accrue interest at the rate of interest set for in Section 3.02(c) from the date paid by the Administrative Agent until repaid. The
Administrative Agent, from time to time, may furnish to any insurance agency or company, or any other Person, any information contained in or extracted from any insurance policy theretofore delivered to the Administrative Agent pursuant hereto, and
any information concerning the Obligations, the Borrower, or the Denton Property. If at any time the Borrower obtains insurance related to the Denton Property or the ownership, operation, or income thereof, which is not specifically required by the
Administrative Agent, then the Borrower shall nevertheless include the Administrative Agent for and on behalf of the Lenders as additional insured or loss payee/mortgagee thereto. 

  
 15 

 (f) Payment for Labor and Materials. The Borrower will promptly pay
all bills for labor, materials and specifically fabricated materials incurred in connection with the Mortgaged Property and never permit to exist in respect of the Mortgaged Property or any part thereof any lien or security interest, even though
inferior to the liens and security interests hereof, for any such bill, and in any event never permit to be created or exist in respect of the Mortgaged Property, or any part thereof, any other or additional lien or security interest on a parity
with, superior or inferior to any of the liens or security interests hereof. 
 (g) Completion. If
permitted or required by applicable Law, the Borrower shall file on or before the deadline therefor as established by applicable Law, an affidavit or certificate (“Affidavit of Completion”) of completion of construction of
the Improvements, in the appropriate records in the county in which the Land is situated, and shall send a copy of such Affidavit of Completion to the Administrative Agent and each contractor and person as contemplated and within the time frames
prescribed by applicable Law. 
 (h) Compliance with Requirements. The Borrower will timely comply (to
prevent any breach) with and satisfy all Governmental Requirements and Requirements of Law that affect or are otherwise related to the Denton Property, its use or occupancy. Without limiting the foregoing, the Borrower shall cause the Improvements
to comply, when constructed, with all applicable disabilities laws and architectural barriers laws, including the Americans with Disabilities Act any and all similar Laws of the state, county and city in which the Land is situated and all related
ordinances, rules, and regulations relating thereto (as same may be amended or succeeded). 
 (i) Defects and
Variances. The Borrower will, upon demand by the Administrative Agent and at the Borrower’s sole expense, promptly have corrected any structural defect in the Improvements or any variance from the Construction Plans not approved in writing
by the Administrative Agent, it being understood and agreed that the disbursement of any Term B Loan proceeds shall not constitute a waiver of the Administrative Agent’s right to require compliance with respect to any such defects or
departures. If the Administrative Agent in its reasonable judgment determines that any work or materials fail to conform to any Governmental Requirements, any Requirements of Law or the Construction Plans, or that they otherwise depart from any of
the requirements of this Agreement, then the Administrative Agent may require the nonconforming or defective work to be stopped and withhold its consent to further Advances upon 15 days written notice and opportunity to cure, until the nonconformity
or defect, as applicable, is corrected. If this occurs, the Borrower must correct the work to the Administrative Agent’s reasonable satisfaction promptly and halt all other work which may be adversely affected by the nonconforming or defective
work pending completion of such corrective work. No such action by the Administrative Agent will affect the Borrower’s obligation to complete the Improvements on or before the Completion Date. 

(j) Surveys. The Borrower will furnish to the Administrative Agent, at the Borrower’s expense, the following
surveys prepared by a registered engineer or surveyor reasonably acceptable to the Administrative Agent: (i) a pre-construction title survey of 

  
 16 

 
the Land and any existing improvements thereon, prepared by a registered surveyor or engineer and certified to the Administrative Agent, the Borrower, and the Title Company, with a certification
in form and substance reasonably acceptable to the Administrative Agent, reflecting such matters as required by the Administrative Agent and showing no state of facts objectionable to the Administrative Agent; (ii) if requested by the
Administrative Agent, a foundation survey, upon completion of staking the foundation or completion of the foundation for the Improvements, showing the location of the foundation and all building and set-back lines, property boundary lines, and other
matters customarily included in a foundation survey for the type of property and improvements being surveyed; and (iii) an “as built” survey, within sixty (60) days after substantial completion of the Improvements, showing the
locations of the Improvements, and certifying that same are entirely within the property lines of the Land, do not encroach upon any easement, setback or building line or restrictions, and are placed in accordance with the Construction Plans, all
Governmental Requirements, and all Requirements of Law affecting the Land and/or Improvements, and showing and certifying to such other matters customarily shown and contained in certifications for an “as built” survey for the type of
property and improvements being surveyed, and showing no state of facts objectionable to the Administrative Agent. All surveys shall be in form and substance reasonably acceptable to the Administrative Agent. 

(k) Third Party Property Reports. 

(i) Soils Report. Prior to the commencement of construction, the Borrower shall have delivered to the
Administrative Agent and obtained the Administrative Agent’s reasonable approval of a final soils report addressed to the Administrative Agent (or accompanied by a letter to the Administrative Agent from such engineers authorizing the
Administrative Agent’s reliance on such report as if addressed to the Administrative Agent) and prepared by a qualified licensed soils engineer reasonably acceptable to the Administrative Agent. The soils report shall be based upon adequate due
diligence, and shall state that there are no unusual or hazardous soil conditions in, on, under, or around the Denton Property, that no condition or circumstance warranting further investigation or analysis exists in the opinion of the soils
engineer, that would materially and adversely affect the Denton Property, and that construction of all Improvements as proposed is feasible under existing soil conditions so long as the recommendations of the soils report are followed. The
Construction Plans shall incorporate all recommendations of the engineer as set forth in the soils report. 

(ii) Environmental Report. The Administrative Agent shall have received, at the Borrower’s expense, an
environmental site assessment report with respect to the Denton Property prepared by a firm of engineers reasonably approved by the Administrative Agent, which report shall be reasonably satisfactory in form and substance to the Administrative
Agent, and which must be either addressed to the Administrative Agent or accompanied by a letter to the Administrative Agent from such engineers authorizing the Administrative Agent’s reliance on such report as if addressed to the
Administrative Agent. 

  
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 (l) Appraisals. In addition to the appraisal contemplated in
Section A of this Annex II, the Administrative Agent may, from time to time, obtain an appraisal of all or any part of the Denton Property prepared by a third-party appraiser engaged directly by the Administrative Agent and prepared in
accordance with written instructions from the Administrative Agent. The Administrative Agent, in the Administrative Agent’s sole discretion, may (but shall have no obligation to) have any such appraisal reviewed by another appraiser. The cost
of any such appraisal and review (if any) shall be borne by the Borrower if (i) the appraisal is obtained to confirm compliance with any financial covenants of the Borrower pursuant to this Agreement, (ii) is obtained at least thirty-six
(36) months after the last appraisal of the Denton Property, or (iii) the appraisal is obtained after the occurrence of an Event of Default or otherwise required pursuant to applicable rules, regulations or statutes requiring the
Administrative Agent or any of the Lenders to obtain same. If the appraisal cost is payable by the Borrower, such cost shall be due and payable upon demand from the Administrative Agent and shall be secured by the Loan Documents. 

(m) Permits; Licenses; Approvals. The Borrower shall (i) timely obtain, in accordance with the Construction
Schedule and in conformity with the Construction Plans, building permits and all other permits and licenses, and all approvals or consents of the Governmental Authorities and appropriate Persons pursuant to any restrictive covenants, required with
respect to the construction of the Improvements; and (ii) obtain prior to the Completion Date, certificates of occupancy and all other permits and licenses required with respect to the occupancy and use of the Denton Property for its intended
purposes. 
 (n) Notice to the Administrative Agent. The Borrower shall promptly, and in any event within
five (5) Business Days, after the occurrence of any of the following events, notify the Administrative Agent in writing thereof, specifying in each case the action the Borrower has taken or will take with respect thereto: (i) any material
violation of any Governmental Requirement or Requirements of Law that would reasonably be expected to have a Material Adverse Effect; (ii) any litigation, arbitration or governmental investigation or proceeding instituted or threatened against
the Borrower, any Loan Party, or the Denton Property, and any material development therein, that would reasonably be expected to have a Material Adverse Effect; (iii) any actual or threatened condemnation of any portion of the Denton Property,
any negotiations with respect to any such taking, or any loss of, or substantial damage to, the Denton Property; (iv) any labor controversy pending or threatened against the Borrower or any Contractor during the pendency of the construction of
the Denton Property, and any material development in any labor controversy; (v) any notice received by the Borrower with respect to the cancellation, alteration, or nonrenewal of any insurance coverage maintained with respect to the Denton
Property; (vi) any failure by the Borrower or any Contractor, subcontractor, or supplier to perform any material obligation under any Construction Contract, Design Services Contract, or subcontract, or any other breach under any Construction
Contract or Design Services Contract, or any event or condition which would permit termination of a Construction Contract or Design Services Contract or subcontract or suspension of work thereunder, or any notice given by the Borrower or any
Contractor or Design Professional with respect to any of the foregoing; (vii) any Lien 

  
 18 

 
filed against any portion of the Denton Property or any stop notice served on the Borrower in connection with construction of the Improvements; (viii) any required permit, license,
certificate or approval with respect to the Denton Property is not timely obtained, or lapses or ceases to be in full force and effect and such failure continues for a period of 10 days after Borrower receives notice of such failure from any party;
(ix) there is a Material Adverse Effect; or (x) the Borrower receives notice from a junior lienholder on the Denton Property, or from any other Person asserting a Lien against any portion of the Denton Property, of a default or occurrence
of an event that with notice and/or the passage of time could be a default with respect to the Lien or asserted Lien against any portion of the Denton Property. 
 (o) Brokers. The Borrower will indemnify the Administrative Agent and each of the Lenders from claims of brokers arising by reason of the execution hereof or the consummation of the transactions
contemplated hereby, where such claims arise from any action taken by the Borrower, any other Loan Party, or any officer, partner, employee, or representative of any of them. 

(p) Advertising by the Administrative Agent. The Borrower agrees that during the term of the Term B Loans, the
Borrower may erect, or the Administrative Agent may erect with the Borrower’s approval on the Denton Property, one or more advertising signs furnished by the Administrative Agent indicating that the financing for the Denton Property has been
furnished by the Administrative Agent. 
 (q) Title Insurance Endorsement. Within fifteen (15) days
after Completion and full payment of all retainage withheld pursuant to Section 2.10(f) (excluding any amounts withheld due to notices of claims received by the Administrative Agent), the Borrower shall cause the Title Insurance to be
endorsed to remove any exception for mechanics’ or materialmen’s Liens or pending disbursements, with no additional title change or exception objectionable to the Administrative Agent, and shall obtain such other endorsements as may be
reasonably required by the Administrative Agent. 
 (r) Audits of Denton Property; Fees. The
Administrative Agent shall have the right from time to time to audit the Denton Property and all operations related thereto. In connection with such audits, in addition to the Borrower making the books and records available to the Administrative
Agent, the Borrower agrees that the Administrative Agent (including the Administrative Agent’s representatives and consultants) can visit with any parties to any of the Denton Property Contracts. The Borrower agrees to reimburse the
Administrative Agent, on demand, for customary and reasonable fees and costs incurred by the Administrative Agent for up to one audit each calendar year (with each such calendar year commencing on the date hereof); provided this shall in no
way limit the number of audits that the Administrative Agent can make nor shall it limit any other provisions contained in the Loan Documents. 
 (s) Inventory of Personal Property. Within twenty (20) days after a request by the Administrative Agent, the Borrower shall prepare and deliver to the Administrative Agent an inventory of all
tangible personal Property which constitutes part of the Denton Property, specifically identifying any such personal Property that is damaged, inoperable, or not located on the Land. 

  
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 (t) Storage of Materials. The Borrower shall cause all materials
supplied for, or intended to be utilized in, the construction of the Improvements, but not yet affixed to or incorporated into the Improvements or the Land, to be stored on the Land with adequate safeguards acceptable to the Administrative Agent to
prevent loss, theft, damage or commingling with materials for other projects. The Borrower shall not purchase or order materials for delivery more than one hundred twenty (120) days prior to the scheduled incorporation of such materials into
the Improvements, without the approval of the Administrative Agent. Notwithstanding the foregoing, in the event that such materials are not stored on the Land, with the prior written consent of the Administrative Agent, such materials may be stored
off-site; provided that prior to any Advance with respect to such materials, the Administrative Agent shall have received and approved of evidence that such materials are insured as required by Section E(e) of this Annex II.

 (u) Construction Contract. The Construction Contract with the General Contractor shall have a guaranteed
maximum price in an amount not greater than the costs for construction of the Improvements as specified in the Term B Loan Budget and shall otherwise be reasonably acceptable to the Administrative Agent in its reasonable discretion. 

F. Construction Negative Covenants. 
 (a) Use of Denton Property. At no time shall the Borrower use, maintain, operate, or occupy, or allow the use, maintenance, operation, or occupancy of, any portion of the Denton Property for any
purpose which (i) violates any Governmental Requirement or any Requirement of Law; (ii) in any manner may be dangerous unless safeguarded as required by Law; (iii) may constitute a public or private nuisance; (iv) may make void,
voidable, or cancelable or increase the premium of any insurance then in force with respect thereto; or (v) conduct business or allow the conduct of business or other activities on the Denton Property that are not consistent with the intended
uses by the Borrower as contemplated by Administrative Agent in connection with the Transactions. 
 (b) No
Amendments. The Construction Plans, Construction Contract, and Design Services Contract will not be amended, altered, or changed (pursuant to change order, amendment, or otherwise) unless either (i) the same shall have been approved in
advance, which approval shall not be unreasonably withheld, (A) in writing by the Administrative Agent (except to the extent the Administrative Agent’s approval is expressly not required for such action as provided in this Agreement),
(B) by all requisite Governmental Authorities; (C) by each surety under payment or performance bonds (if any) covering the Construction Contract or otherwise covering the construction of all or any portion of the Improvements, (D) the
Design Professional who prepared the Construction Plans and the General Contractor approve such amendment and the corresponding change order in writing, and a copy of such approval and change order is

  
 20 

 
promptly provided to the Administrative Agent or the Inspector; or (ii) such changes in the Construction Plans (A) do not constitute a material change in the building material or
equipment specifications, or in the architectural or structural design, value or quality of any of the Improvements; (B) would not result in an increase of construction costs; (C) would not affect the structural integrity, quality of
building materials, or overall efficiency of operating systems of the Improvements; (D) does not require the approval of any Governmental Authority; and (E) the Design Professional who prepared the Construction Plans and the General
Contractor approve such amendment and the corresponding change order in writing, and a copy of such approval and change order is promptly provided to the Administrative Agent or the Inspector. Without limiting the above, the Administrative Agent
agrees that the Borrower may make de minimis changes in the Construction Plans without the Administrative Agent’s prior written consent, provided that such changes do not violate any of the conditions specified herein. 

G. Retainage. An amount equal to 10% of all hard costs of construction under the Construction Contract and any and all
subcontracts entered into by a Contractor for which an Advance has been made, plus the amount of any claims asserted by any laborers or materialmen against any portion of the Property pursuant to stop notices, lien claims or similar demands or
notices received by Administrative Agent (which have not been bonded against or otherwise secured in accordance with the applicable provisions of the Security Instrument) (the “Retainage”), shall be retained by Administrative Agent.
Such Retainage shall be paid over by Administrative Agent to Borrower, excluding the amount of any such unbonded or unsecured lien claims, plus potential costs and interest related thereto (which funds will be disbursed only as such claims are
resolved satisfactorily bonded around in addition to the satisfaction of the following conditions), when all of the following have occurred to the satisfaction of Administrative Agent: 

(a) Administrative Agent has received the Certificate of Substantial Completion executed by Borrower, the General
Contractor and the appropriate Design Professional, and approved by the Inspector, stating that the Improvements have been completed in accordance with the Construction Plans. 

(b) Administrative Agent shall have received such other evidence as Administrative Agent may require that no
mechanics’ or materialmen’s liens or other encumbrances have been filed and remain in effect against the Property, and the time periods for the filing of any stop notice or lien claim with respect to the construction of the Improvements
shall have elapsed without the filing or providing of any such stop notice or lien claim. The Design Professional, Contractor, and all subcontractors and material suppliers who performed or provided work or materials related to the Improvements have
been paid in full, subject to the release of the retainage as provided in the last paragraph of this Section G. 

(c) Each applicable Governmental Authority shall have duly inspected and approved the Improvements and the occupancy of
same and issued the appropriate permit, license or certificate of occupancy, to evidence such approval. 

  
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 (d) All conditions to an Advance contained in Sections A and B of this Annex
II are satisfied. 
 (e) Notwithstanding the previous provisions of this Section G to the contrary,
Administrative Agent hereby agrees to release separately the amount of retainage withheld with respect to each subcontractor providing services or materials for the construction of the Improvements, but only after (i) all other conditions to an
Advance are satisfied, (ii) the Inspector approves the separate release of such amount, and (iii) such subcontractor and the General Contractor execute an affidavit, lien waiver, and release in form and substance acceptable to
Administrative Agent in Administrative Agent’s sole discretion, for the benefit of Administrative Agent stating (A) that the subcontractor has completed all of its services relating to the construction of the Improvements and has been paid
in full for such services, and (B) that the subcontractor waives and releases any mechanic’s and materialmen’s or other liens it may have against the Improvements and the Property. 

H. Changes to Plans and Contracts. The Construction Plans, Construction Contract, and Design Services Contract will not be
amended, altered, or changed (pursuant to change order, amendment, or otherwise) unless either (i) the same shall have been approved in advance (A) in writing by Administrative Agent (except to the extent Administrative Agent’s
approval is expressly not required for such action as provided in this Agreement), (B) by all requisite Governmental Authorities, (C) by each surety under payment or performance bonds (if any) covering the Construction Contract or
otherwise covering the construction of all or any portion of the Improvements, and (D) by any tenant under a Lease of a portion of the Property to the extent such amendment or supplement affects the premises covered by such Lease; or
(ii) such changes in the Construction Plans (A) do not constitute a material change in the building material or equipment specifications, or in the architectural or structural design, value or quality of any of the Improvements;
(B) would not result in an increase of construction costs in excess of ONE HUNDRED THOUSAND AND NO/100THS DOLLARS ($100,000.00) for any single change or in excess of FIVE HUNDRED THOUSAND AND NO/100THS DOLLARS ($500,000.00)
(“Aggregate Cap”) in the aggregate for all changes except for any change orders relating to the paint and blast booth (“PBB Change Order”), which PBB Change orders shall not count toward the Aggregate
Cap; (C) would not affect the structural integrity, quality of building materials, or overall efficiency of operating systems of the Improvements; (D) do not require the approval of any Governmental Authority, any surety under any payment
and/or performance Bond, or any tenant under a lease of all or any portion of the Property; (E) such change complies with all Governmental Requirements, Legal Requirements and other requirements applicable thereto and all other requirements of
the Loan Documents; (F) do not substitute a lesser quality material; (G) do not delay the Completion Date; and (H) are approved by the Borrower, Contractor and the Design Professional who prepared the Construction Plans being changed,
which such approval shall be in writing, and a copy of such approval and change shall be promptly provided to Administrative Agent and the Inspector. Without limiting the above, Administrative Agent agrees that Borrower may make de minimis
changes in the Construction Plans without Administrative Agent’s prior written consent, provided that such changes do not violate any of the conditions specified herein. Borrower shall have provided evidence reasonably satisfactory to
Administrative Agent of all such third party approvals, or, if requested by Administrative Agent, evidence that an approval not obtained by Borrower is not required. Administrative Agent may have the Inspector review and advise Administrative Agent
as to any or all of the foregoing or approve any of the foregoing on behalf of Administrative Agent. 

  
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 EXHIBIT A 
 FORM OF REVOLVING CREDIT NOTE 
  

			
	$                    	  	                    , 20__

 FOR VALUE RECEIVED, PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS
MFG. CO., a Texas corporation (“Peerless”, and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”) each hereby promises to pay to the order of
                                        (the
“Lender”), at the principal office of CITIBANK, N.A., a national banking association, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), the principal sum of
                    Dollars ($            ) (or such lesser amount as shall equal
the aggregate unpaid principal amount of the Revolving Credit Loans made by the Lender to the Borrower under the Credit Agreement, as hereinafter defined), in lawful money of the United States of America and in immediately available funds, on the
dates and in the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid principal amount of each such Revolving Credit Loan, at such office, in like money and funds, for the period commencing on the date of such
Revolving Credit Loan until such Revolving Credit Loan shall be paid in full, at the rates per annum and on the dates provided in the Credit Agreement. 
 The date, amount, Type, interest rate, Interest Period and maturity of each Revolving Credit Loan made by the Lender to the Borrower, and each payment made on account of the principal thereof, shall be
recorded by the Lender on its books and, prior to any transfer of this Revolving Credit Note, may be endorsed by the Lender on the schedules attached hereto or any continuation thereof or on any separate record maintained by the Lender. Failure to
make any such notation or to attach a schedule shall not affect any Lender’s or the Borrower’s rights or obligations in respect of such Revolving Credit Loans or affect the validity of such transfer by any Lender of this Revolving Credit
Note. 
 This Revolving Credit Note is one of the Revolving Credit Notes referred to in the Credit Agreement dated as of
September 7, 2012 among the Borrower, the Administrative Agent, the other agents and the lenders signatory thereto (including the Lender), and evidences Revolving Credit Loans made by the Lender thereunder (such Credit Agreement as the same may
be amended, supplemented or restated from time to time, the “Credit Agreement”). Capitalized terms used in this Revolving Credit Note but not defined herein have the respective meanings assigned to them in the Credit
Agreement. 
 This Revolving Credit Note is issued pursuant to, and is subject to the terms and conditions set forth in, the
Credit Agreement and is entitled to the benefits provided for in the Credit Agreement and the other Loan Documents. The Credit Agreement provides for the acceleration of the maturity of this Revolving Credit Note upon the occurrence of certain
events, for prepayments of Revolving Credit Loans upon the terms and conditions specified therein and other provisions relevant to this Revolving Credit Note. 
 THIS REVOLVING CREDIT NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS. 
 [SIGNATURES BEGIN NEXT PAGE] 

  
 EXHIBIT A, Form of Revolving
Credit Note – Page 1 

 
			
	 PMFG, INC.,
 a
Delaware corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	 PEERLESS MFG. CO.,

a Texas corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 EXHIBIT A, Form of Revolving
Credit Note – Page 2 

 EXHIBIT B 
 FORM OF SWINGLINE NOTE 
  

			
	$                    	  	                    , 20__

 FOR VALUE RECEIVED, PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS
MFG. CO., a Texas corporation (“Peerless”, and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”) each hereby promises to pay to the order of
                                        (the
“Lender”), at the principal office of CITIBANK, N.A., a national banking association, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), the principal sum of
                    Dollars ($            ) (or such lesser amount as shall equal
the aggregate unpaid principal amount of the Swingline Loans made by the Lender to the Borrower under the Credit Agreement, as hereinafter defined), in lawful money of the United States of America and in immediately available funds, on the dates and
in the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid principal amount of each such Swingline Loan, at such office, in like money and funds, for the period commencing on the date of such Swingline Loan until
such Swingline Loan shall be paid in full, at the rates per annum and on the dates provided in the Credit Agreement. 
 The
date, amount, Type, interest rate, Interest Period and maturity of each Swingline Loan made by the Lender to the Borrower, and each payment made on account of the principal thereof, shall be recorded by the Lender on its books and, prior to any
transfer of this Swingline Note, may be endorsed by the Lender on the schedules attached hereto or any continuation thereof or on any separate record maintained by the Lender. Failure to make any such notation or to attach a schedule shall not
affect any Lender’s or the Borrower’s rights or obligations in respect of such Swingline Loans or affect the validity of such transfer by any Lender of this Swingline Note. 

This Swingline Note is one of the Swingline Notes referred to in the Credit Agreement dated as of September 7, 2012 among the
Borrower, the Administrative Agent, the other agents and the lenders signatory thereto (including the Lender), and evidences Swingline Loans made by the Lender thereunder (such Credit Agreement as the same may be amended, supplemented or restated
from time to time, the “Credit Agreement”). Capitalized terms used in this Swingline Note but not defined herein have the respective meanings assigned to them in the Credit Agreement. 

This Swingline Note is issued pursuant to, and is subject to the terms and conditions set forth in, the Credit Agreement and is entitled
to the benefits provided for in the Credit Agreement and the other Loan Documents. The Credit Agreement provides for the acceleration of the maturity of this Swingline Note upon the occurrence of certain events, for prepayments of Swingline Loans
upon the terms and conditions specified therein and other provisions relevant to this Swingline Note. 
 THIS SWINGLINE NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS. 
  [SIGNATURES BEGIN NEXT PAGE]

  
 EXHIBIT B, Form of Swingline
Note – Page 1 

 
			
	 PMFG, INC.,
 a
Delaware corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	 PEERLESS MFG. CO.,

a Texas corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 EXHIBIT B, Form of Swingline
Note – Page 2 

 EXHIBIT C 
 FORM OF TERM A LOAN NOTE 
  

			
	$                    	  	                    , 20__

 FOR VALUE RECEIVED, PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS
MFG. CO., a Texas corporation (“Peerless”, and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”) each hereby promises to pay to the order of
                                        (the
“Lender”), at the principal office of CITIBANK, N.A., a national banking association, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), the principal sum of
                    Dollars ($            ) (or such lesser amount as shall equal
the aggregate unpaid principal amount of the Term A Loans made by the Lender to the Borrower under the Credit Agreement, as hereinafter defined), in lawful money of the United States of America and in immediately available funds, on the dates and in
the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid principal amount of each such Term A Loan, at such office, in like money and funds, for the period commencing on the date of such Term A Loan until such Term A
Loan shall be paid in full, at the rates per annum and on the dates provided in the Credit Agreement. 
 The date, amount, Type,
interest rate, Interest Period and maturity of each Term A Loan made by the Lender to the Borrower, and each payment made on account of the principal thereof, shall be recorded by the Lender on its books and, prior to any transfer of this Term A
Loan Note, may be endorsed by the Lender on the schedules attached hereto or any continuation thereof or on any separate record maintained by the Lender. Failure to make any such notation or to attach a schedule shall not affect any Lender’s or
the Borrower’s rights or obligations in respect of such Term A Loans or affect the validity of such transfer by any Lender of this Term A Loan Note. 
 This Term A Loan Note is one of the Term A Loan Notes referred to in the Credit Agreement dated as of September 7, 2012 among the Borrower, the Administrative Agent, the other agents and the lenders
signatory thereto (including the Lender), and evidences Term A Loans made by the Lender thereunder (such Credit Agreement as the same may be amended, supplemented or restated from time to time, the “Credit Agreement”).
Capitalized terms used in this Term A Loan Note but not defined herein have the respective meanings assigned to them in the Credit Agreement. 
 This Term A Loan Note is issued pursuant to, and is subject to the terms and conditions set forth in, the Credit Agreement and is entitled to the benefits provided for in the Credit Agreement and the
other Loan Documents. The Credit Agreement provides for the acceleration of the maturity of this Term A Loan Note upon the occurrence of certain events, for prepayments of Term A Loans upon the terms and conditions specified therein and other
provisions relevant to this Term A Loan Note. 
 THIS TERM A LOAN NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF TEXAS. 
 [SIGNATURES BEGIN NEXT PAGE] 

  
 EXHIBIT C, Form of Term A
Loan Note – Page 1 

 
			
	 PMFG, INC.,
 a
Delaware corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	 PEERLESS MFG. CO.,

a Texas corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 EXHIBIT C, Form of Term A
Loan Note – Page 2 

 EXHIBIT D 
 FORM OF AMENDED AND RESTATED TERM B LOAN NOTE 
  

			
	$                            
	  	                    , 20__

 FOR VALUE RECEIVED, PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS
MFG. CO., a Texas corporation (“Peerless”, and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”) each hereby promises to pay to the order of
                                        (the
“Lender”), at the principal office of CITIBANK, N.A., a national banking association, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), the principal sum of
                    Dollars ($            ) (or such lesser amount as shall equal
the aggregate unpaid principal amount of the Term B Loans made by the Lender to the Borrower under the Credit Agreement, as hereinafter defined), in lawful money of the United States of America and in immediately available funds, on the dates and in
the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid principal amount of each such Term B Loan, at such office, in like money and funds, for the period commencing on the date of such Term B Loan until such Term B
Loan shall be paid in full, at the rates per annum and on the dates provided in the Credit Agreement. 
 The date, amount, Type,
interest rate, Interest Period and maturity of each Term B Loan made by the Lender to the Borrower, and each payment made on account of the principal thereof, shall be recorded by the Lender on its books and, prior to any transfer of this Amended
and Restated Term B Loan Note, may be endorsed by the Lender on the schedules attached hereto or any continuation thereof or on any separate record maintained by the Lender. Failure to make any such notation or to attach a schedule shall not affect
any Lender’s or the Borrower’s rights or obligations in respect of such Term B Loans or affect the validity of such transfer by any Lender of this Amended and Restated Term B Loan Note. 

This Amended and Restated Term B Loan Note is one of the Amended and Restated Term B Loan Notes referred to in the Credit Agreement dated
as of September 7, 2012 among the Borrower, the Administrative Agent, the other agents and the lenders signatory thereto (including the Lender), and evidences Term B Loans made by the Lender thereunder (such Credit Agreement as the same may be
amended, supplemented or restated from time to time, the “Credit Agreement”). Capitalized terms used in this Amended and Restated Term B Loan Note but not defined herein have the respective meanings assigned to them in the
Credit Agreement. 
 This Amended and Restated Term B Loan Note is issued pursuant to, and is subject to the terms and
conditions set forth in, the Credit Agreement and is entitled to the benefits provided for in the Credit Agreement and the other Loan Documents. The Credit Agreement provides for the acceleration of the maturity of this Amended and Restated Term B
Loan Note upon the occurrence of certain events, for prepayments of Term B Loans upon the terms and conditions specified therein and other provisions relevant to this Amended and Restated Term B Loan Note. 

This Amended and Restated Term B Loan Note, together with the other Amended and Restated Term B Loan Notes issued to the other Lenders,
respectively, on the date hereof (collectively, the “Amended and Restated Term B Loan Notes”), is given in assumption, amendment, renewal, extension and restatement of the terms and provisions governing the repayment of the
indebtedness evidenced by that certain Promissory Note dated August 14, 2012 in the original principal amount of $12,000,000.00 (the “Prior Note”), executed by Peerless, payable to the order of PMFG, which Prior Note has
been assigned to each of the Lenders pursuant to that certain Assignment of Note and Deed of Trust (the “Assignment”) dated of even date herewith by PMFG in favor of Administrative Agent to be recorded in the Real Property
Records of Denton County, Texas (the “Records”). In accordance with such amendment, renewal, extension and restatement, Borrower acknowledges and agrees that the 

  
 EXHIBIT D, Form of Amended
and Restated Term B Loan Note – Page 1 

 
indebtedness evidenced by the Prior Note shall be renewed by and continued in full force and effect in accordance with the terms and conditions of the Amended and Restated Term B Loan Notes (and
shall not be extinguished), and this Amended and Restated Term B Loan Note and the indebtedness evidenced hereby shall be secured by the liens and security interest of that certain Deed of Trust with Assignment of Rents, Security Agreement and
Financing Statement executed by Peerless to Susan Cox, as trustee, for the benefit of PMFG, dated as of August 14, 2012, and recorded on August 16, 2012 as Document No. 2012-90493 in the Records, as assigned to Administrative Agent
(for the benefit of Lenders) by the Assignment, as amended and restated in its entirety by that certain Amended and Restated Deed of Trust with Assignment of Rents, Security Agreement, and Financing Statement executed by Peerless to Mary C. Tucker,
as trustee, for the benefit of Administrative Agent as Beneficiary, to be recorded in the Records, all as heretofore, concurrently herewith, or hereafter amended. Borrower, and Lender by acceptance hereof, agree that the original principal amount of
the Prior Note shall be reduced pursuant to the terms of the Amended and Restated Term B Loan Notes such that the aggregate principal amount of the Amended and Restated Term B Loan Notes shall be $10,000,000. The Prior Note is being retained by
Administrative Agent with a notation placed on the face thereof indicating that the Prior Note has been amended, renewed, extended and restated by the Amended and Restated Term B Loan Notes. 

THIS AMENDED AND RESTATED TERM B LOAN NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.

 [SIGNATURES BEGIN NEXT PAGE] 

  
 EXHIBIT D, Form of Amended
and Restated Term B Loan Note – Page 2 

 
			
	 PMFG, INC.,
 a
Delaware corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	 PEERLESS MFG. CO.,

a Texas corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 EXHIBIT D, Form of
Amended and Restated Term B Loan Note – Page 3 

 EXHIBIT E 
 FORM OF BORROWING REQUEST 

                      
  , 20         
 PMFG, INC., a Delaware corporation
(“PMFG”), and PEERLESS MFG. CO., a Texas corporation (“Peerless”, and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”), pursuant
to Section 2.03(a) of the Credit Agreement dated as of September 7, 2012 (together with all amendments, restatements, supplements or other modifications thereto, the “Credit Agreement”) among the Borrower, CITIBANK,
N.A., a national banking association, as Administrative Agent, the other agents and the lenders which are or become parties thereto (unless otherwise defined herein, each capitalized term used herein has the meaning assigned to such term in the
Credit Agreement), each hereby requests a Borrowing as follows: 
 (I) Requested Borrowing is to be [Revolving Credit
Borrowing] [Term A Borrowing]; 
 (II) Aggregate amount of the requested Borrowing is
$                    , which in the case of a Term A Borrowing shall be in accordance with Section 2.02(b) of the Credit Agreement;

 (III) Date of such Borrowing is
                        , 20        , which is a Business Day; 

(IV) Requested Borrowing is to be [an ABR Borrowing] [a Eurodollar Borrowing]; 

(V) In the case of a Eurodollar Borrowing, the initial Interest Period applicable thereto is
            ; 
 (VI) In the case of a Revolving Credit
Borrowing, (a) the amount of Borrowing Base in effect on the date hereof is $                    , (b) , the total Revolving Credit
Exposures as of the date hereof is $                    (without regard to the requested Borrowing), (c) the total Risk Adjusted Revolving
Credit Exposures as of the date hereof is $                    (without regard to the requested Borrowing), (d) the pro forma total Revolving
Credit Exposures is $                    (giving effect to the requested Borrowing), and (e) the pro forma total Risk Adjusted Revolving Credit
Exposures is $                    (giving effect to the requested Borrowing); and 

(VII) Location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the
requirements of Section 2.06 of the Credit Agreement, is as follows: 
  

 
  

 
  

 
  

 
 In the case of a Term A
Borrowing, this certificate shall be accompanied by the applicable invoice for the new equipment purchased by the Borrower or an appraisal of the existing equipment to be financed. 

  
 EXHIBIT E, Form of
Borrowing Request – Page 1 

 The undersigned certifies that he/she is the
                    of PMFG, INC., a Delaware corporation, and that as such he/she is authorized to execute this certificate on behalf of such
corporation. The undersigned further certifies, represents and warrants on behalf of such corporation and not individually, that such corporation is entitled to receive the requested Borrowing under the terms and conditions of the Credit Agreement.

			
	
	 PMFG, INC.,
 a
Delaware corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 

 The undersigned certifies that he/she is the
                    of PEERLESS MFG. CO., a Texas corporation, and that as such he/she is authorized to execute this certificate on behalf of such
corporation. The undersigned further certifies, represents and warrants on behalf of such corporation and not individually, that such corporation is entitled to receive the requested Borrowing under the terms and conditions of the Credit Agreement.

			
	
	 PEERLESS MFG. CO.,

a Texas corporation

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 EXHIBIT E, Form of
Borrowing Request – Page 2 

 EXHIBIT F 
 FORM OF DRAW REQUEST 
 [MUST BE SUBMITTED MORE THAN 5 BUSINESS DAYS PRIOR
TO DISBURSEMENT] 
 To:         Citibank N.A., as Administrative Agent

 Reference is made to the Credit Agreement dated as of September 7, 2012 (together with all amendments, restatements,
supplements or other modifications thereto, the “Credit Agreement”) among PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS MFG. CO., a Texas corporation (“Peerless”, and PMFG and Peerless,
individually and collectively shall be referred to herein as, the “Borrower”), CITIBANK, N.A., a national banking association, as Administrative Agent, the other agents and the lenders (the “Lenders”) which are or
become parties thereto. Unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement. This Draw Request serves as Borrower’s request for an Advance under the Credit Agreement, in the amount requested on
Line A.1 below, which Advance proceeds are to be deposited into the Advance Account (as defined in the Credit Agreement). 
  

	A.	GENERAL. 

  

					
	        1.	  	Requested Advance From Term B Loan.	    	$                            
                        
			
	        2.	  	Construction draw cut-off date.	    	  

			
	        3.	  	 Requested funding date (must be more than
 5 business days from date of submission to
 Administrative Agent
	    	  

	
	 B.     FUNDS AVAILABLE TO FUND REQUESTED ADVANCE.

	
	    Term B Loan Proceeds
			
	        1.	  	Term B Loan Commitment	    	  $                           
                         
			
	        2.	  	Plus Borrower’s Deposit	    	+$                             
                       
			
	        3.	  	Plus Special Account deposits:	    	+$                            
                        
			
	        4.	  	Less all prior Advances (closing costs)	    	- $                            
                         
			
	        5.	  	Amount available for additional Advances	    	  $                           
                         

 The amount on Line B.5 must be greater than the amount on Line A.1. Any funds in the Advance
Account and, if applicable, the funds in the Special Account must be exhausted before Term B Loan proceeds may be subject to an Advance. 

  
 EXHIBIT F, Form of Draw
Request – Page 1 

	C.	RUNNING TOTAL OF AMOUNT SPENT ON CONSTRUCTION OF IMPROVEMENTS TO DATE. 

 

					
	        1.	  	Enter total of the total budget	    	$                            
                        
			
	        2.	  	 Enter total amount spent to date on construction
 of Improvements from all sources including costs
 paid by Borrower and prior
advances
	    	$                            
                        
			
	        3.	  	Enter amount of this construction draw:	    	$                            
                        
			
	        4.	  	Construction funds remaining to be disbursed:	    	$                            
                        
			
		  	(Aggregate of C1 minus C2 and C3)	    	

  

	D.	REPRESENTATIONS AND WARRANTIES. Borrower hereby represents, warrants, and certifies to Lenders as follows: 

 

	 	1.	Credit Agreement. The authorized representative of Borrower executing this Draw Request on behalf of Borrower (herein referred to as “Authorized
Representative”) has read the Credit Agreement and other pertinent Loan Documents and understands the Advance procedures and requirements, including (without limitation) the Draw Request procedures and the conditions precedent to an
Advance. Authorized Representative has made such examination and investigation as is necessary to enable the Borrower to represent, warrant, and certify as to the matters set forth in this Draw Request. 

 

	 	2.	Prior Advances. All prior Advances to Borrower have been applied to the payment of obligations of Borrower for materials, labor and other costs incurred in
connection with the construction of the Improvements, and for no other purpose. 

  

	 	3.	Draw Request and Attachments Constituting Complete Draw Package. Attached to this Draw Request is a fully completed set of all the documents required by the
Credit Agreement for the requested Advance specified in Line A.1 above. This Draw Request is accompanied by a transmittal letter to the Administrative Agent which lists all of the attachments to this Draw Request which collectively
comprise the draw package. 

  

	 	4.	Approval of AIA G702 and AIA G703. The Borrower expressly approves of the attached AIA G702 and AIA G703, if any. 

 

	 	5.	Down Date Endorsement. The Borrower expressly represents that Lenders will receive a title down date endorsement dated within two (2) days prior to the
Advance showing no liens or notices of liens against the Property recorded after the Amended and Restated Deed of Trust With Assignment of Rents, Security Agreement, and Financing Statement was recorded. 

 

	 	6.	Requested Advance to Pay Costs Incurred on or Before Construction Draw Cut-off Date. The requested Advance represents items owed by Borrower for labor,
materials, and other costs incurred on or before the construction draw cut-off date specified in Line A.2 above. 

  

	 	7.	Disbursement of Proceeds of Requested Advance. The Borrower will use the proceeds of the requested Advance solely for the purpose of paying obligations owed by
the Borrower for labor, materials, and other costs incurred in connection with such construction as shown on the Budget and this Draw Request, and for no other purpose. 

  
 EXHIBIT F, Form of Draw
Request – Page 2 

	 	8.	Representation of Full Payment. Upon disbursement by the Borrower of the proceeds of the requested Advance, all obligations for labor, materials, and other costs
incurred by the Borrower in connection with such construction and which are due and payable on or before the construction draw cut-off date referred to in Line A.2 above will be fully and promptly paid and satisfied.

  

	 	9.	Compliance with Conditions Precedent. All covenants, agreements, and conditions required by the terms of the Credit Agreement to be performed or complied with by
the Borrower as conditions precedent to the funding of the requested Advance have been performed and complied with. 

  

	 	10.	Confirmation of Representations, Etc. As of the date hereof, the representations and warranties contained in the Credit Agreement are true and correct in all
material respects and no Event of Default and/or event which, with the lapse of time or giving of notice, or both, would constitute an Event of Default, exists. 

 This Draw Request is given for the purpose of inducing the Lenders to disburse the requested Advance. The Borrower recognizes that the Lenders are relying upon this Draw Request and the accuracy of the
attachments in making such Advance. 
 DATED:
                    , 20             

 

			
	BORROWER:
	
	PMFG, INC., a Delaware corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	PEERLESS MFG., CO., a Texas corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 EXHIBIT F, Form of Draw
Request – Page 3 

 EXHIBIT G 
 FORM OF INTEREST ELECTION REQUEST 

                    ,
20     
 PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS MFG. CO.,
a Texas corporation (“Peerless”, and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”), pursuant to Section 2.05 of the Credit Agreement dated as of
September 7, 2012 (together with all amendments, restatements, supplements or other modifications thereto, the “Credit Agreement”) among the Borrower, CITIBANK, N.A., a national banking association, as Administrative
Agent, the other agents and the lenders which are or become parties thereto (unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement), each hereby makes an Interest Election Request as follows:

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

 (ii) The effective date of the election made pursuant to this Interest Election Request is
            , 20    , which is a Business Day; 

(iii) The resulting Borrowing is to be [an ABR Borrowing] [a Eurodollar Borrowing]; and 

(iv) If the resulting Borrowing is a Eurodollar Borrowing, the Interest Period applicable to the resulting Borrowing after giving effect
to such election is [                    ], which is a period contemplated by the definition of the term “Interest Period”. 

[SIGNATURES BEGIN NEXT PAGE] 

  
 EXHIBIT G, Form of Interest
Election Request – Page 1 

 The undersigned certifies that he/she is the
                    of PMFG, INC., a Delaware corporation, and that as such he/she is authorized to execute this certificate on behalf of such
corporation. The undersigned further certifies, represents and warrants on behalf of such corporation that such corporation is entitled to receive the requested continuation or conversion under the terms and conditions of the Credit Agreement.

  

			
	PMFG, INC., a Delaware corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 The undersigned certifies that he/she is the
                    of PEERLESS MFG., CO., a Texas corporation, and that as such he/she is authorized to execute this certificate on behalf of such
corporation. The undersigned further certifies, represents and warrants on behalf of such corporation that such corporation is entitled to receive the requested continuation or conversion under the terms and conditions of the Credit Agreement.

  

			
	PEERLESS MFG., CO., a Texas corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 EXHIBIT G, Form of Interest
Election Request – Page 2 

 EXHIBIT H 
 FORM OF 
 COMPLIANCE CERTIFICATE 

The undersigned hereby certifies that he/she is the
                                        of PMFG,
INC., a Delaware corporation (“PMFG”), and PEERLESS MFG. CO., a Texas corporation (“Peerless”, and PMFG and Peerless, individually and collectively shall be referred to herein as, the
“Borrower”), and that as such he/she is authorized to execute this certificate on behalf of the Borrower. With reference to the Credit Agreement dated as of September 7, 2012 (together with all amendments, restatements,
supplements or other modifications thereto, the “Credit Agreement”) among the Borrower, CITIBANK, N.A., a national banking association, as Administrative Agent, the other agents and the lenders which are or become parties
thereto (unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement), the undersigned represents and warrants as follows (each capitalized term used herein having the same meaning given to it in the Credit
Agreement unless otherwise specified): 
 (a) The representations and warranties of the Borrower contained in Article VII
of the Credit Agreement and in the Loan Documents and otherwise made in writing by or on behalf of the Borrower pursuant to the Credit Agreement and the Loan Documents were true and correct when made, and are repeated at and as of the time of
delivery hereof and are true and correct at and as of the time of delivery hereof, except to the extent such representations and warranties are expressly limited to an earlier date or the Required Lenders have expressly consented in writing to the
contrary. 
 (b) Since July 2, 2011, no change has occurred, either in any case or in the aggregate, in the condition,
financial or otherwise, of the Borrower or any Subsidiary which could reasonably be expected to have a Material Adverse Effect [or specify event]. 
 (c) No Default or Event of Default has occurred or is continuing [except to the extent waived in writing by the Lenders or the Required Lenders, as applicable, in accordance with the Credit Agreement] [or
specify Default and describe]. 
 (d) Attached hereto as Schedule 2 are the detailed computations necessary to determine
the Applicable Margin and whether the Borrower is in compliance with Section 9.01 of the Credit Agreement as of the end of the [fiscal quarter][fiscal year] ending
[            , 20    ]. 
 (e) Attached hereto as
Schedule 3 are updates to all Schedules to the Security Agreement to the extent that information therein has become inaccurate or incomplete. 
 [SIGNATURES BEGIN NEXT PAGE] 

  
 EXHIBIT H, Form of Compliance
Certificate – Page 1 

 EXECUTED AND DELIVERED this
            day of             , 20    . 

 

			
	PMFG, INC., a Delaware corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	PEERLESS MFG., CO., a Texas corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 EXHIBIT H, Form of Compliance
Certificate – Page 2 

 For the Quarter/Year ended
                        (“Statement Date”). 

For purposes hereof, “Subject Period” is the period of four consecutive fiscal quarters ending on the
Statement Date. 
 SCHEDULE 2 
 to the Compliance Certificate 
 ($ in 000’s) 

 

					
	 I.      Section 9.01(a) – Consolidated Leverage Ratio.
	  			
		
	 A.     Aggregate total liabilities of Borrower and its Consolidated Subsidiaries on the Statement
Date:
	  	 	$                    	  
		
	 B.     Consolidated Tangible Net Worth

 
 1.      Total
assets of Borrower and its Consolidated Subsidiaries, excluding all assets which would be classified as intangible assets under GAAP, including without limitation, good will, patents, trademarks, trade names, copyrights, and franchises and excluding
any obligations due from Affiliates on the Statement Date:
  
 2.      Total liabilities of Borrower and its Consolidated Subsidiaries on the Statement Date:
  

3.      Consolidated Tangible Net Worth on the Statement Date (Line I.B.1 –
I.B.2):
	  	   
  
  

 
	$                    
 

$                    

 

$                    

	    
   
  

  

		
	 C.     Consolidated Leverage Ratio (Line I.A ÷ Line I.B.3):

  
 Maximum Permitted: 1.75 to
1.00
	  	 	             to 1.00	  
		
	 II      Section 9.01(b) – Debt Service Coverage Ratio.
	  			
		
	 A.     Consolidated EBITDA for the Subject
Period1
	  			
		
	 1.      Consolidated Net Income for the Subject Period:
	  	 	$                    	  
		
	 2.      Without duplication and only to the extent reflected as a charge or reduction in the
statement of such Consolidated Net Income for such period and not excluded from Consolidated Net Income pursuant to the definition thereof, income tax expense:
	  	 	$                    	  

  

	1 	 Consolidated EBITDA shall be determined after giving effect, on a Pro Forma basis, to Acquisitions and Dispositions made by the Borrower or a
Consolidated Subsidiary during the Subject Period. If any Acquisition(s) or Disposition(s) were made during the Subject Period, attach a separate explanation to this Compliance Certificate indicating the Pro Forma adjustments being made for such
Acquisition(s) and/or Disposition(s). Such pro forma adjustments shall be calculated in a manner reasonably satisfactory to the Administrative Agent. 

  
 EXHIBIT H, Form of
Compliance Certificate – Page 3 

					
	 3.      Without duplication and only to the extent reflected as a charge or reduction in the
statement of such Consolidated Net Income for such period and not excluded from Consolidated Net Income pursuant to the definition thereof, Consolidated Interest Expense:
	  	$	                    	  
		
	 4.      Without duplication and only to the extent reflected as a
charge or reduction in the statement of such Consolidated Net Income for such period and not excluded from Consolidated Net Income pursuant to the definition thereof, depreciation, depletion and amortization expense:
	  	$	                    	  
		
	 5.      Without duplication and only to the extent reflected as a
charge or reduction in the statement of such Consolidated Net Income for such period and not excluded from Consolidated Net Income pursuant to the definition thereof, out-of-pocket expenses incurred in connection with the closure and sale of the
Abilene facility:
	  	$
	                    
	  

		
	 6.      Without duplication and only to the extent reflected as a
charge or reduction in the statement of such Consolidated Net Income for such period and not excluded from Consolidated Net Income pursuant to the definition thereof, transaction fees and expenses incurred in connection with the negotiation,
execution and closing of the Credit Agreement and the Ex-Im Credit Agreement:
	  	 $
	
                    

	   

		
	 7.      Without duplication and only to the extent reflected as a
charge or reduction in the statement of such Consolidated Net Income for such period and not excluded from Consolidated Net Income pursuant to the definition thereof, any non-cash expenses, losses or other charges (including whether or not otherwise
includable as a separate item in the statement of such Consolidated Net Income for such period, non-cash losses on sales of assets (other than Inventory) outside of the ordinary course of business and any Inventory write up due to purchase
accounting, but excluding losses or charges resulting from write-downs or write-offs with respect to Accounts or Inventory, and including non-cash Restricted Payments and unrealized gains earned and losses incurred under Swap
Agreements):
	  	$	                    	  
		
	 8.      Cash payments in such period required for any prior non-cash expenses or
losses:
	  	$	                    	  
		
	 9.      Consolidated EBITDA for the Subject Period (Lines II.A.1 + 2 + 3 + 4 + 5 + 6 + 7 –
8):
	  	$	                    	  

  
 EXHIBIT H, Form
of Compliance Certificate – Page 4 

					
	 B.      Cash Restricted Payments constituting of dividends and distributions made by the Borrower
and its Consolidated Subsidiaries to any Person other than to PMFG or a Subsidiary of PMFG during the Subject Period:
	  	 
	$                    
	  

		
	 C.      Maintenance Capex made during the Subject Period
	  			
		
	 1.      The actual amount paid by the Borrower and its Consolidated Subsidiaries in cash on account
of Capital Expenditures (other than Capital Expenditures made in connection with the Denton Property and Capital Expenditures made by Peerless Manufacturing (Zhenjiang) Co. Ltd. for the building of a manufacturing plant in Zhenjiang, China to the
extent permitted pursuant to Section 9.06 of the Credit Agreement) for the Subject Period:
	  	   
  
  

 
  
  
	$                    
 

$                    

 

$                    

 

$                    

	    
   
  

  
  
   

		
	 2.      The depreciation expense of Borrower and its Consolidated Subsidiaries with respect to such
Capital Expenditures for the Subject Period:
	  	 	$                    	  
		
	 3.      Maintenance Capex (lesser of Line II.C.1 and Line II.C.2):
	  	 	$                    	  
		
	 D.      Cash Taxes for the Subject Period:
	  			
		
	 E.      Consolidated Fixed Charges
	  			
		
	 1.      Without duplication, all Consolidated Interest Expense paid or payable in cash by any of
the Borrower or its Consolidated Subsidiaries in respect of the Subject Period:
	  	 	$                    	  
		
	 2.      Without duplication, all installments of principal due and payable by any of the Borrower
or its Consolidated Subsidiaries with respect to long-term Indebtedness and Indebtedness set forth in clauses (a) and (b) of the definition of “Funded Debt” during the Subject Period (including principal payment in respect of the Term
Loans, but excluding voluntary prepayments of the Term Loans):
	  	 	$                    	  
		
	 3.      Without duplication, all earn-out payments paid or payable in cash during the Subject
Period:
	  			
		
	 4.      Consolidated Fixed Charges for the Subject Period (Lines II.E.1 + 2 + 3):
	  			
		
	 F.       Debt Service Coverage Ratio ((Line II.A.9 – II.B – II.C.3 – II.D)
÷ Line II.E.4): 
	  	 	                 to 1.00	  
		
	  Minimum Permitted: 1.50 to 1.00
	  			

  
 EXHIBIT H, Form of Compliance
Certificate – Page 5 

					
	 III.   Section 9.01(c) – Consolidated Tangible Net Worth.
	  			
		
	 A.     Total assets of Borrower and its Consolidated Subsidiaries, excluding all assets which would be
classified as intangible assets under GAAP, including without limitation, good will, patents, trademarks, trade names, copyrights, and franchises and excluding any obligations due from Affiliates on the Statement Date:
	  	 $
	
                    

	   

		
	 B.     Total liabilities of Borrower and its Consolidated Subsidiaries on the Statement
Date:
	  	$	                    	  
		
	 C.     Consolidated Tangible Net Worth on the Statement Date (Line III.A – III.B):
	  	$	                    	  
		
	 D.     Borrower’s Consolidated Net Income:
	  	$	                    	  
		
	 E.     Minimum Consolidated Tangible Net Worth ($65,000,000 + 0.5 *
Line III.D):
  
	  	$	                    	  
	 IV.   Applicable Margin – Consolidated Funded Debt to EBITDA Ratio.
	  			
		
	 A.     Consolidated Funded Debt:
	  	$	                    	  
		
	 B.     Consolidated EBITDA for the Subject Period (Line II.A.9):
	  	$	                    	  
		
	 C.     Consolidated Funded Debt to EBITDA Ratio (Line IV.A ÷ Line IV.B):
	  	$	                    	  

  
 EXHIBIT H, Form of
Compliance Certificate – Page 6 

 EXHIBIT I 
 FORM OF BORROWING BASE CERTIFICATE 
 The undersigned hereby certifies that
he/she is the                                     of PMFG, INC., a
Delaware corporation (“PMFG”), and PEERLESS MFG. CO., a Texas corporation (“Peerless”, and PMFG and Peerless, individually and collectively shall be referred to herein as, the
“Borrower”), and that as such he/she is authorized to execute this certificate on behalf of the Borrower. With reference to the Credit Agreement dated as of September 7, 2012 (together with all amendments, restatements,
supplements or other modifications thereto, the “Credit Agreement”) among the Borrower, CITIBANK, N.A., a national banking association, as Administrative Agent, the other agents and the lenders which are or become parties
thereto (unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement), the undersigned represents and warrants that the attached Borrowing Base Certificate is true and correct in all respects as of
                                    ,
            . Each capitalized term used herein shall have the same meaning given to it in the Credit Agreement unless otherwise specified. 

EXECUTED AND DELIVERED this                 day of
            , 20        . 

			
	
	PMFG, INC., a Delaware corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	PEERLESS MFG., CO., a Texas corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 EXHIBIT I, Form of
Borrowing Base Certificate – Page 1 

 PMFG, Inc. 
 Peerless Mfg. Co. 
  

Borrowing Base
Report                                 a/o 

 

																							
	ACCOUNTS RECEIVABLE	  	INVENTORY
	 Rollforward
	  	 	  	 	  	 	  	 	  	 	 	 	 	 	  	 	  	 	  	 
											
	1.	 	A/R Balance per G/L	  		  		  		  		  				 		  		  		  	
		 		  		  	  
	  		  	  
	  				 		  		  		  	
											
	2.	 	Invoices (Since Last Report) - Pee	  	+	  		  		  		  				 		  		  		  	
		 		  		  	  
	  		  		  				 		  		  		  	
											
	3.	 	Misc. Debits (Since Last Report) *	  	+	  		  		  		  				 		  		  		  	
		 		  		  	  
	  		  		  				 		  		  		  	
											
	4.	 	Cash Receipts (Since Last Report)	  	-	  		  		  		  				 		  		  		  	
		 		  		  	  
	  		  		  				 		  		  		  	
											
	5.	 	Credit Memos (Since Last Report)	  	-	  		  		  		  				 		  		  		  	
		 		  		  	  
	  		  		  				 		  		  		  	
											
	6.	 	Change in International Accounts	  	-	  		  		  		  				 		  		  		  	
		 		  		  	  
	  		  		  				 		  		  		  	
											
	7.	 	Change in Retention	  	-	  		  		  		  				 		  		  		  	
		 		  		  	  
	  		  		  				 		  		  		  	
											
	8.	 	Other Changes in AR Balances	  	-	  		  		  		  				 		  		  		  	
		 		  		  	  
	  		  		  				 		  		  		  	
											
	9.	 	A/R Balance per G/L	  		  		  	=	  		  	 	9.	  	 	Inventory Balance per G/L	  		  	=	  	
		 		  		  	  
	  		  	  
	  				 		  	  
	  		  	  

										
	 Borrowing Base Calculation
	  	 	  	 	  	 	  	 	  	 	 	 	 	 	  	 	  	 	  	 
											
	10.	 	A/R Balance per Aging	  		  		  	=	  		  	 	10.	  	 	Inventory Balance per Perpetual	  		  	=	  	
		 		  		  	  
	  		  	  
	  				 		  	  
	  		  	  

											
	11.	 	Variance (Lines: 10 - 9) *	  		  		  		  		  	 	11.	  	 	Variance (Lines: 10 - 9) *	  		  		  	
		 		  		  	  
	  		  		  				 		  	  
	  		  	
											
	12.	 	Ineligible Accounts *	  		  		  	-	  		  	 	12.	  	 	Ineligible Inventory *	  		  	-	  	
		 		  		  		  		  	  
	  				 		  		  		  	  

											
	13.	 	Net Eligible Accounts Receivable (Lines: 8 - 10)	  		  		  	=	  		  	 	13.	  	 	Net Eligible Inventory (Lines: 10 - 12)	  		  	=	  	
		 		  		  		  		  	  
	  				 		  		  		  	  

											
	14.	 	Loan Formula                    of Line 13	  		  		  	*	  		  	 	14.	  	 	Loan Formula                    of Line 13	  		  	*	  	
		 		  		  		  		  	  
	  				 		  		  		  	  

								
	15.	 	A/R Capped @                   	  		  		  		  		  	 	15.	  	 	Invy Capped @                  
		 		  		  		  		  		  				 		  		  		  	
											
	16.	 	Lessor of Line 14 or Line 15	  		  		  	=	  		  	 	16.	  	 	Lessor of Line 14 or Line 15	  		  	=	  	
		 		  		  		  		  	  
	  				 		  		  		  	  

											
	17.	 	Total A/R Borrowing Base (Lines: 14+15+/-16)	  		  		  	=	  		  	 	17.	  	 	Total Inventory Borrowing Base (Lines: 16+17+/-18)	  		  	=	  	
		 		  		  		  		  	  
	  				 		  		  		  	  

											
	18.	 		  		  		  		  		  	 	18.	  	 	Sum of A/R and Inventory Borrowing Base	  		  		  	
		 		  		  		  		  		  				 		  		  		  	  

  

																					
	 Loan and Letter of Credit Balances
	  	 	  	 	  	 	  	 	 	 	  	 	  	 	  	 
		 	Loan Balance per Last Report	  		  		  		 		  		  		  	
		 	Less: Net Payments	  		  		  		 		  		  	-	  	
		 	Plus: Net Advances	  		  		  		 		  		  	+	  	
		 	Loan Balance as of	  		  		  		 		  		  	=	  	
		 		  		  		  	  
	  		  		 		  		  		  	  

									
		 	Warranty Letters of Credit	  		  		  		 	Risk Adjusted Rate	  		  	+	  	
		 		  		  		  		  		  	  
	 		  		  		  	
		 	All other Letters of Credit (excluding EXIM)	  		  		  		 		  		  		  	
		 		  		  		  		  		  	  
	 		  		  		  	  

									
		 	Total Balance	  		  		  		 		  		  		  	
		 		  		  		  	  
	  		  	  
	 		  		  		  	  

									
		 	Net Funded Availability/(Deficit)	  		  		  		 		  		  		  	
		 		  		  		  	  
	  		  		 		  		  		  	
									
		 	Restricted Cash	  		  		  		 		  		  		  	
									
		 	Net Funded Availability/(Deficit) after Restricted Cash	  		  		  		 		  		  		  	
		 		  		  		  	  
	  	  
	  		 		  		  		  	  

 To the best of my knowledge and belief, this information is correct and may be relied upon by you as a basis for
advancing any credit to us. 
  

							
	Company Name:    	  	Peerless Mfg. Co.	  	Signature:	  	 
		  		  	Name:	  	Ronald McCrummen
	Date Report Submitted:    	  	 	  	Title:	  	CFO

  

	*	Please detail on the “Ineligible Calculations Page” in the “Comments” section. 

  
 EXHIBIT I, Form of Borrowing
Base Certificate – Page 2 

 Each capitalized term used herein shall have the same meaning given to it in the Credit
Agreement unless otherwise specified. 
  

											
	I.  	  	Accounts and Inventory
				
	 	  	 	  	 	  	Amount
		  	A.  	  	Eligible Accounts
					
		  		  	1.  	  	Accounts of the Borrower and its Domestic Subsidiaries	  	$                        
				
		  		  	Less ineligible Accounts (without duplication)	  	
						
		  		  		  	a.  	  	Accounts that are not subject to a valid, perfected first priority Lien in favor of the Administrative Agent or that are subject to any Lien in favor of any Person other than (i)
the Administrative Agent for the benefit of the Secured Parties and (ii) during the Ex-Im Period, the second priority Liens in favor of the Ex-Im Lender for the benefit of the Ex-Im Lender and the Ex-Im Bank	  	$                        
						
		  		  		  	b.  	  	Accounts that are not owned by the Borrower or its Domestic Subsidiaries or are subject to any right, claim or interest of another Person other than (i) the Liens in favor of the
Administrative Agent for the benefit of the Secured Parties and (ii) during the Ex-Im Period, the second priority Liens in favor of the Ex-Im Lender for the benefit of the Ex-Im Lender and the Ex-Im Bank	  	$                        
						
		  		  		  	c.  	  	Accounts as to which any covenant, representation or warranty contained in the Loan Documents with respect to such Accounts have both (i) been breached, and (ii) such breach is
still existing at the relevant date of determination	  	$                        
						
		  		  		  	d.  	  	Accounts with respect to which an invoice has not been sent	  	$                        
						
		  		  		  	e.  	  	Accounts which are not due and payable within sixty (60) days after their invoice date	  	$                        
						
		  		  		  	f.  	  	Accounts that arise from a sale of goods to or performance of services for an employee of the Borrower or its Domestic Subsidiaries	  	$                        
						
		  		  		  	g.  	  	Account that are backed by a letter of credit unless the Inventory covered by the subject letter of credit has been shipped	  	$                        

  
 EXHIBIT I, Form of Borrowing
Base Certificate – Page 3 

											
						
		 		 		 	h.  	  	Accounts that are due and payable from an Account Debtor who (i) applies for, suffers, or consents to the appointment of, or the taking of possession by, a receiver, custodian,
trustee or liquidator of itself or of all or a substantial part of its property, (ii) admits in writing its inability, or is generally unable, to pay its debts as they become due, (iii) makes a general assignment for the benefit of creditors, (iv)
commences a voluntary case under any Debtor Relief Laws (as now or hereafter in effect), (v) is adjudicated as bankrupt or insolvent, (vi) files a petition seeking to take advantage of any other Law providing for the relief of debtors, (vii)
acquiesces to, or fails to have dismissed, any petition which is filed against it in any involuntary case under such Debtor Relief Laws	  	$                        
						
		 		 		 	i.	  	Accounts with respect to which the obligation of payment of the Account Debtor is or may be conditional for any reason whatsoever, including, without limitation, Accounts that are
billed in advance (other than progress billings or similar billings in advance or on delivery against deliverables or standards specified in the applicable contract, provided that such deliverables have been received or standards attained) or arise
from a bill-and-hold, guaranteed sale, sale-and-return, sale on approval, consignment or any other repurchase or return basis	  	$                        
						
		 		 		 	j.	  	Accounts that are evidenced by chattel paper	  	$                        
						
		 		 		 	k.	  	Accounts that are subject to any defense or counterclaim that has been asserted by the applicable Account Debtor, or any setoff, contra account, credit, allowance or adjustment by
the Account Debtor because of returned, inferior or damaged Inventory or services, or for any other reason, except (i) for customary discounts allowed by the applicable Loan Party in the ordinary course of business for prompt payment, and (ii) to
the extent there is any agreement between the applicable Loan Party and the relevant Account Debtor, for any rebate, discount, concession or release of liability in respect of such Account, in whole or in part, all of which discounts or allowances
are reflected in the calculation of the face value of each respective invoice related thereto; or for which the Account Debtor is also a creditor or supplier of the Borrower	  	$                        
						
		 		 		 	l.	  	Accounts to the extent they include any finance charges, service charges, taxes, discounts, credits, allowances and retainages	  	$                        

  
 EXHIBIT I, Form of Borrowing
Base Certificate – Page 4 

											
						
		 		 		 	m.  	  	Accounts owing by an Account Debtor if twenty-five percent (25%) or more of the aggregate balance of Accounts owing by such Account Debtor is ineligible, unless specifically
approved by the Administrative Agent in its sole discretion	  	$                        
						
		 		 		 	n.	  	Accounts with respect to which the Account Debtor is the U.S. or any other federal government body unless such accounts are duly assigned to the Administrative Agent for the benefit
of the Secured Parties pursuant to documentation reasonably satisfactory to the Administrative Agent in compliance with all applicable governmental requirements (including, without limitation, the Federal Assignment of Claims Act of 1940, as
amended)	  	$                        
						
		 		 		 	o.	  	Accounts which are for that portion of an account balance owed by a single Account Debtor that would exceed thirty percent (30%) (or such greater percentage as permitted by the
Administrative Agent in its sole discretion) of the aggregate amount of all Accounts	  	$                        
						
		 		 		 	p.	  	Accounts that are due and payable from an Account Debtor that is not a resident or citizen of the United States or a province in or territory of Canada which has adopted the
Personal Property Security Act which is substantially similar to the Personal Property Security Act in the Province of Ontario as of the Effective Date, unless each such Account is secured by a letter of credit issued by a bank acceptable to the
Administrative Agent which letter of credit shall be in form and substance acceptable to the Administrative Agent and/or is adequately covered by foreign credit insurance provided by a solvent insurer acceptable to the Administrative
Agent	  	$                        
						
		 		 		 	q.	  	Accounts that are otherwise deemed ineligible for any reason by the Administrative Agent in its reasonable discretion	  	$                        
						
		 		 		 	r.	  	Accounts for which any of the Inventory giving rise to such Accounts have been returned, rejected or repossessed	  	$                        

  
 EXHIBIT I, Form of Borrowing
Base Certificate – Page 5 

											
						
		 		  		  	s.	  	Accounts for which the Inventory giving rise to such Accounts have not been delivered to and accepted by the Account Debtor, the services giving rise to such Accounts have not been
performed by the Borrower or its Domestic Subsidiaries or the Accounts otherwise do not represent a final sale, other than, in each case, any Accounts that arise from progress billings or similar billings in advance or on delivery against
deliverables or standards specified in the applicable contract, provided that such deliverables have been received or standards attained	  	$                        
						
		 		  		  	t.	  	Except for the U.S. Navy, Accounts that are due and payable from a military Account Debtor	  	$                        
						
		 		  		  	u.	  	Accounts that are due and payable in a currency other than Dollars, Canadian Dollars or Euros	  	$                        
						
		 		  		  	v.	  	Accounts that the Administrative Agent, in its reasonable judgment, deems uncollectible for any reason	  	$                        
						
		 		  		  	w.  	  	Accounts which remain unpaid more than ninety (90) days past their invoice date	  	$                        
						
		 		  		  	x.	  	During the Ex-Im Period, Accounts that are Export-Related Accounts, except to the extent such Export-Related Accounts are fully insured and not part of the borrowing base under the
Ex-Im Credit Agreement	  	$                        
						
		 		  		  	y.	  	Accounts that do not arise from the sale of Inventory in the ordinary course of the Borrower’s or any of its Domestic Subsidiaries’ business	  	$                        
						
		 		  		  	z.	  	Total Ineligible Accounts (Lines I.A.1.a + b + c + d + e + f + g + h + i + j + k + l + m + n + o + p + q + r + s + t + u + v + w + x + y)	  	$                        
					
		 		  	2.  	  	Total (Line I.A.1 – Line I.A.1.z) x 80%	  	$                        
			
		 	B.  	  	Eligible Inventory
					
		 		  	1.  	  	Inventory of the Borrower and its Domestic Subsidiaries, valued at the lower of cost or market	  	$                        
				
		 		  	Less ineligible Inventory (without duplication):	  	
					
		 		  	a.  	  	Inventory that is not subject to a valid, perfected first priority Lien in favor of the Administrative Agent or that is subject to any Lien in favor of any Person other
than (i) the Administrative Agent for the benefit of the Secured Parties and (ii) during the Ex-Im Period, the second priority Liens in favor of the Ex-Im Lender for the benefit of the Ex-Im Lender and the Ex-Im Bank	  	$                        

  
 EXHIBIT I, Form of Borrowing
Base Certificate – Page 6 

											
						
		 		 		 	b.  	  	Inventory that is not owned by the Borrower or its Domestic Subsidiaries or is subject to any right, claim or interest of another Person other than (i) the Liens in favor of the
Administrative Agent for the benefit of the Secured Parties and (ii) during the Ex-Im Period, the second priority Liens in favor of the Ex-Im Lender for the benefit of the Ex-Im Lender and the Ex-Im Bank	  	$                    
						
		 		 		 	c.	  	Inventory that is located at an address that has not been approved in writing by the Administrative Agent (which approval the Administrative Agent shall not unreasonably withhold,
condition or delay), unless such location (i) is owned in fee by the Borrower or any Domestic Subsidiary, or (ii) satisfies clause (e) or (f) of the definition of Eligible Inventory	  	$                    
						
		 		 		 	d.	  	Inventory that is placed by the Borrower or any of its Domestic Subsidiaries on consignment or held by the Borrower or any of its Domestic Subsidiaries on consignment from another
Person	  	$                    
						
		 		 		 	e.	  	Inventory that is in transit to the U.S. unless (A) the Administrative Agent is in possession of all documents of title such as, but not limited to, bills of lading necessary to
perfect a first priority security interest in such Inventory, and (B) the Borrower or any of its Domestic Subsidiaries has delivered to the Administrative Agent satisfactory evidence that such Inventory is insured against such risks and in such
amounts as the Administrative Agent, in the exercise of its reasonable determination, determines to be reasonable	  	$                    
						
		 		 		 	f.	  	Inventory that is in the possession of a processor or bailee, or located on premises leased or subleased to the Borrower or any of its Domestic Subsidiaries, or on premises subject
to a mortgage in favor of a Person other than the Administrative Agent, unless, in each case, such processor or bailee or mortgagee or the lessor or sublessor of such premises, as the case may be, has executed and delivered all documentation which
the Administrative Agent shall reasonably require to evidence the subordination or other limitation or extinguishment of such Person’s rights with respect to such Inventory and the Administrative Agent’s right to gain access thereto,
provided, however, that Inventory with an aggregate value of not more than $1,000,000 at any time shall not be excluded pursuant to this clause if it is located at a site of a contractor, subcontractor or customer of the Borrower or any Domestic
Subsidiary or any customer of any such contractor or subcontractor	  	$                    
						
		 		 		 	g.	  	Inventory that is produced in violation of the Fair Labor Standards Act or subject to the “hot goods” provisions contained in 29 U.S.C. § 215 or any successor statute
or section	  	$                    

  
 EXHIBIT I, Form of Borrowing
Base Certificate – Page 7 

									
					
		  		  	h.	  	Inventory as to which any covenant, representation or warranty with respect to such Inventory contained in the Loan Documents has both (i) been breached, and (ii) such breach is
still existing at the relevant date of determination	  	$                    
					
		  		  	i.	  	Inventory that is not located in the U.S. or in any territory or possession of the U.S. that has adopted Article 9 of the UCC or in any province in Canada which has adopted the
Personal Property Security Act which is substantially similar to the Personal Property Security Act in effect in the Province of Ontario on the Effective Date, unless permitted pursuant to clause (e) of the definition of Inventory or expressly
permitted by Administrative Agent on terms acceptable to Administrative Agent	  	$                    
					
		  		  	j.	  	Inventory that is sample or demonstration Inventory	  	$                    
					
		  		  	k.  	  	Inventory that consists of proprietary software (i.e. software designed solely for the Borrower’s internal use and not intended for resale)	  	$                    
					
		  		  	l.	  	Inventory that is damaged, slow moving, obsolete, returned (unless such returned Inventory is saleable in the normal course of the Borrower’s operations), defective, recalled
or unfit for further processing or not currently saleable in the normal course of the Borrower’s operations	  	$                    
					
		  		  	m.	  	Inventory that has been previously exported from the U.S.	  	$                    
					
		  		  	n.	  	Inventory that is perishable or live	  	$                    
					
		  		  	o.	  	Inventory that the Borrower has returned, has attempted to return, is in the process of returning or intends to return to the vendor thereof	  	$                    
					
		  		  	p.	  	Inventory that is work-in-progress Inventory	  	$                    
					
		  		  	q.	  	Inventory that is Inventory otherwise deemed ineligible by the Administrative Agent in its reasonable discretion	  	$                    
					
		  		  	r.	  	Inventory that is to be incorporated into Inventory whose sale would result in an Account which would not be an Eligible Account	  	$                    
					
		  		  	s.	  	during the Ex-Im Period, Inventory that is Export-Related Inventory	  	$                    
					
		  		  	t.	  	Total Ineligible Inventory (Lines I.B.1.a + b + c + d + e + f + g + h + i + j + k + l + m + n + o + p + q + r + s)	  	$                    
					
		  		  	2.	  	Total (Line I.B.1 – Line I.B.1.t) x 50%	  	$                    
		
	II.  	  	Borrowing Base
				
		  	A.  	  	80% of Eligible Accounts (Line I.A.2)	  	$                    
				
		  	B.	  	50% of Eligible Inventory (Line I.B.2)	  	$                    

  
 EXHIBIT I, Form of Borrowing
Base Certificate – Page 8 

							
				
		  	C.  	  	100% of cash held in the LC Cash Account	  	$                    
				
		  	D.	  	Foreign Currency Letter of Credit Contingency Amount	  	$                    
				
		  	E.	  	Borrowing Base (Line II.A + B + C - D)	  	
			
	III.  	  	Total Risk-Adjusted Revolving Credit Exposure	  	$                    
			
	IV.	  	Borrowing Base Availability (Deficiency)	  	
				
		  	A.	  	Borrowing Base (Line II.E) minus	  	$                    
				
		  	B.	  	Total Risk-Adjusted Revolving Credit Exposure (Line III)	  	$                    
				
		  	C.	  	Borrowing Base Availability (Deficiency) (Line IV.A – Line IV.B)	  	$                    

  
 EXHIBIT I, Form of Borrowing
Base Certificate – Page 9 

 EXHIBIT J-1 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (FOR FOREIGN LENDERS THAT ARE
NOT PARTNERSHIPS 
 FOR U.S. FEDERAL INCOME TAX PURPOSES) 

Reference is hereby made to the Credit Agreement dated as of September 7, 2012 (together with all amendments, restatements,
supplements or other modifications thereto, the “Credit Agreement”) among PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS MFG. CO., a Texas corporation (“Peerless”,
and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”), CITIBANK, N.A., a national banking association, as Administrative Agent, the other agents and the lenders which are or
become parties thereto. Unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement. 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the
sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code,
(iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of
the Code. 
 The undersigned has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. Person
status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and
(2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or
in either of the two calendar years preceding such payments. 
  

			
	[NAME OF LENDER]
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	Date:                     , 20
        

  
 EXHIBIT J-1, Form of U.S. Tax
Compliance Certificate – Page 1 

 EXHIBIT J-2 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (FOR FOREIGN PARTICIPANTS THAT
ARE NOT PARTNERSHIPS 
 FOR U.S. FEDERAL INCOME TAX PURPOSES) 

Reference is hereby made to the Credit Agreement dated as of September 7, 2012 (together with all amendments, restatements,
supplements or other modifications thereto, the “Credit Agreement”) among PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS MFG. CO., a Texas corporation (“Peerless”,
and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”), CITIBANK, N.A., a national banking association, as Administrative Agent, the other agents and the lenders which are or
become parties thereto. Unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement. 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the
sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the
Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN. By executing
this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such
Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

 

			
	[NAME OF LENDER]
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	Date:                     , 20
        

  
 EXHIBIT J-2, Form of U.S. Tax
Compliance Certificate – Page 1 

 EXHIBIT J-3 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (FOR FOREIGN LENDERS THAT ARE
PARTNERSHIPS 
 FOR U.S. FEDERAL INCOME TAX PURPOSES) 

Reference is hereby made to the Credit Agreement dated as of September 7, 2012 (together with all amendments, restatements,
supplements or other modifications thereto, the “Credit Agreement”) among PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS MFG. CO., a Texas corporation (“Peerless”,
and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”), CITIBANK, N.A., a national banking association, as Administrative Agent, the other agents and the lenders which are or
become parties thereto. Unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement. 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the
sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any
Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to the Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit
pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the
Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code.

 The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the
following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of such partner’s/member’s
beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower
and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is
to be made to the undersigned, or in either of the two calendar years preceding such payments. 
  

			
	[NAME OF LENDER]
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	Date:                     , 20
        

  
 EXHIBIT J-3, Form of U.S. Tax
Compliance Certificate – Page 1 

 EXHIBIT J-4 
 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 
 (FOR FOREIGN PARTICIPANTS THAT
ARE PARTNERSHIPS 
 FOR U.S. FEDERAL INCOME TAX PURPOSES) 

Reference is hereby made to the Credit Agreement dated as of September 7, 2012 (together with all amendments, restatements,
supplements or other modifications thereto, the “Credit Agreement”) among PMFG, INC., a Delaware corporation (“PMFG”), and PEERLESS MFG. CO., a Texas corporation (“Peerless”,
and PMFG and Peerless, individually and collectively shall be referred to herein as, the “Borrower”), CITIBANK, N.A., a national banking association, as Administrative Agent, the other agents and the lenders which are or
become parties thereto. Unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement. 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the
sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither
the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its
participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY accompanied by an
IRS Form W-8BEN from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment
is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
  

			
	[NAME OF LENDER]
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	Date:                     , 20
        

  
 EXHIBIT J-4, Form of U.S. Tax
Compliance Certificate – Page 1 

 EXHIBIT K 
 FORM OF ASSIGNMENT AND ASSUMPTION 
 This Assignment and Assumption (the
“Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and
                                        [Insert
name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 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 any letters of credit, guarantees and swingline loans 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 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 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:	 	 	  	
				
	2.	 	Assignee:	 	 	  	
		 		 	[and is an Affiliate/Approved Fund of [identify Lender]2]
			
	3.	 	Borrower:	 	PMFG, INC. and PEERLESS MFG. CO.
			
	4.	 	Administrative Agent:	 	CITIBANK, N.A., as the administrative agent under the Credit Agreement
			
	5.	 	Credit Agreement:	 	The Credit Agreement dated as of September 7, 2012 among PMFG, INC. and PEERLESS MFG. CO., the Lenders parties thereto, CITIBANK, N.A., as Administrative Agent, and
the other agents parties thereto

  

	2 	 Select as applicable. 

  
 EXHIBIT K, Form of Assignment
and Assumption – Page 1 

	6.	Assigned Interest: 

  

									
	 Commitment Assigned
	  	 Aggregate Amount of

Commitment/Loans for

all Lenders
	  	Amount of
Commitment/Loans
Assigned	  	Percentage Assigned 
of
Commitment/Loans	 
				
		  	$	  	$	  	 	%	  
				
		  	$	  	$	  	 	%	  
				
		  	$	  	$	  	 	%	  

 Effective Date:
                    , 20            [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH
SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 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:	 	 

  
 EXHIBIT K, Form of Assignment
and Assumption – Page 2 

			
	 [Consented to and]3 Accepted:
  

CITIBANK, N.A., as Administrative Agent

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	 [Consented to:]
  

[NAME OF RELEVANT
PARTY]4

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

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

	4	 To be added only
if the consent of the Borrower and/or other parties (e.g., Issuing Bank, Swingline Lender) is required by the terms of the Credit Agreement. 

  
 EXHIBIT K, Form of Assignment
and Assumption – Page 3 

 ANNEX 1 
 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 and (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
(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 the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or
(iv) the performance or observance by the Borrower, 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 satisfies the requirements, if any, specified in
the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a 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, together with copies of the most recent financial
statements delivered pursuant to Section 8.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to
purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (vi) if it is a Foreign Lender, attached to the Assignment and
Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; 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. 
 3. Payments. From and after the Effective Date, 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. 

  
 EXHIBIT K, Form of Assignment
and Assumption – Page 4 

 4. 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 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 law of the State of Texas. 

  
 EXHIBIT K, Form of Assignment
and Assumption – Page 5 

 EXHIBIT L-1 
 FORM OF CONDITIONAL WAIVER AND RELEASE ON FINAL PAYMENT 
 CONDITIONAL
WAIVER AND RELEASE ON FINAL PAYMENT 
 Project
                                        

 Job No.
                                        

 On receipt by the signer of this document of a check
from                     (maker of check) in the sum of
$                     payable
to                     (payee         or payees of check) and when the check has been properly endorsed and
has been paid by the bank on which it is drawn, this document becomes effective to release any mechanic’s lien right, any right arising from a payment bond that complies with a state or federal statute, any common law payment bond right, any
claim for payment, and any rights under any similar ordinance, rule, or statute related to claim or payment rights for persons in the signer’s position that the signer has on the property
of                     (owner) located
at                     (location) to the following
extent:                                        
(job description). 
 This release covers the final payment to the signer for all labor, services, equipment, or materials
furnished to the property or to                     (person with whom signer contracted). 

Before any recipient of this document relies on this document, the recipient should verify evidence of payment to the signer. 

The signer warrants that the signer has already paid or will use the funds received from this final payment to promptly pay in full all
of the signer’s laborers, subcontractors, materialmen, and suppliers for all work, materials, equipment, or services provided for or to the above referenced project up to the date of this waiver and release. 

[SIGNATURES BEGIN NEXT PAGE] 

  
 EXHIBIT L-1, Form of
Conditional Waiver and Release on Final Payment – Page 1 

			
	Date:
                                
	
	[COMPANY NAME]
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 STATE OF TEXAS 

COUNTY OF
                             
 This Conditional Waiver and Release on Final Payment was acknowledged before me on this         day of
            , 20    , by                     , on behalf of
                    a                     .

  

	
	  
	Notary Public, State of Texas

  
 EXHIBIT L-1, Form of
Conditional Waiver and Release on Final Payment – Page 2 

 EXHIBIT L-2 
 FORM OF CONDITIONAL WAIVER AND RELEASE ON PROGRESS PAYMENT 

CONDITIONAL WAIVER AND RELEASE ON PROGRESS PAYMENT 
 Project                             

 Job No.
                             

On receipt by the signer of this document of a check from
                    (maker of check) in the sum of
$                     payable
to                     (payee         or payees of check) and when the check has been properly endorsed and
has been paid by the bank on which it is drawn, this document becomes effective to release any mechanic’s lien right, any right arising from a payment bond that complies with a state or federal statute, any common law payment bond right, any
claim for payment, and any rights under any similar ordinance, rule, or statute related to claim or payment rights for persons in the signer’s position that the signer has on the property
of                     (owner) located
at                     (location) to the following
extent:                                        
(job description). 
 This release covers a progress payment for all labor, services, equipment, or materials furnished to the
property or to                      (person with whom signer contracted) as indicated in the attached statement(s) or progress payment request(s),
except for unpaid retention, pending modifications and changes, or other items furnished. 
 Before any recipient of this
document relies on this document, the recipient should verify evidence of payment to the signer. 
 The signer warrants that the
signer has already paid or will use the funds received from this progress payment to promptly pay in full all of the signer’s laborers, subcontractors, materialmen, and suppliers for all work, materials, equipment, or services provided for or
to the above referenced project in regard to the attached statement(s) or progress payment request(s). 
 [SIGNATURES BEGIN NEXT
PAGE] 

  
 EXHIBIT L-2, Form of
Conditional Waiver and Release on Progress Payment – Page 1 

			
	Date:
                                
	
	[COMPANY NAME]
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 STATE OF TEXAS 

COUNTY OF                      

This Conditional Waiver and Release on Progress Payment was acknowledged before me on this
        day of             , 20    , by
                    , on behalf of
                    a                     .

  

	
	  
	Notary Public, State of Texas

  
 EXHIBIT L-2, Form of
Conditional Waiver and Release on Progress Payment – Page 2 

 EXHIBIT L-3 
 FORM OF UNCONDITIONAL WAIVER AND RELEASE ON FINAL PAYMENT 
 NOTICE

 This document waives rights unconditionally and states that you have been paid for giving up those rights. It is
prohibited for a person to require you to sign this document if you have not been paid the payment amount set forth below (if you have not been paid, use a conditional release form). 

UNCONDITIONAL WAIVER AND RELEASE ON FINAL PAYMENT 
 Project                              

Job No.
                             

The signer of this document has been paid in full for all labor, services, equipment, or materials furnished to the property or
to                     (person with whom signer contracted) on the property
of                     (owner) located
at                     (location) to the following
extent:                     (job description). The signer therefore waives and releases any mechanic’s lien right, any right arising from a
payment bond that complies with a state or federal statute, any common law payment bond right, any claim for payment, and any rights under any similar ordinance, rule, or statute related to claim or payment rights for persons in the signer’s
position. 
 The signer warrants that the signer has already paid or will use the funds received from this final payment to
promptly pay in full all of the signer’s laborers, subcontractors, materialmen, and suppliers for all work, materials, equipment, or services provided for or to the above referenced project up to the date of this waiver and release. 

[SIGNATURES BEGIN NEXT PAGE] 

  
 EXHIBIT L-3, Form of
Unconditional Waiver and Release on Final Payment – Page 1 

			
	Date:
                                    
	
	[COMPANY NAME]
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 STATE OF TEXAS 

COUNTY OF                      

This Unconditional Waiver and Release on Final Payment was acknowledged before me on this
        day of             , 20    , by
                    , on behalf of
                    a                     .

  

	
	  
	Notary Public, State of Texas

  
 EXHIBIT L-3, Form of
Unconditional Waiver and Release on Final Payment – Page 2 

 EXHIBIT L-4 
 FORM OF UNCONDITIONAL WAIVER AND RELEASE ON PROGRESS PAYMENT 
 NOTICE

 This document waives rights unconditionally and states that you have been paid for giving up those rights. It is
prohibited for a person to require you to sign this document if you have not been paid the payment amount set forth below. 

UNCONDITIONAL WAIVER AND RELEASE ON PROGRESS PAYMENT 
 Project                      
 Job No.                      

The signer of this document has been paid and has received a progress payment in the sum of $
                     for all labor, services, equipment, or materials furnished to the property or to
                                         (person
with whom signer contracted) on the property of                      (owner) located at
                     (location) to the following extent:
                                         (job
description). The signer therefore waives and releases any mechanic’s lien right, any right arising from a payment bond that complies with a state or federal statute, any common law payment bond right, any claim for payment, and any rights
under any similar ordinance, rule, or statute related to claim or payment rights for persons in the signer’s position that the signer has on the above referenced project to the following extent: 

This release covers a progress payment for all labor, services, equipment, or materials furnished to the property or to (person with whom
signer contracted) as indicated in the attached statement(s) or progress payment request(s), except for unpaid retention, pending modifications and changes, or other items furnished. 

The signer warrants that the signer has already paid or will use the funds received from this progress payment to promptly pay in full
all of the signer’s laborers, subcontractors, materialmen, and suppliers for all work, materials, equipment, or services provided for or to the above referenced project in regard to the attached statement(s) or progress payment request(s).

 Date:                     

  

			
	[COMPANY NAME]
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 STATE OF TEXAS 

COUNTY OF              

  
 EXHIBIT L-4, Form of
Unconditional Waiver and Release on Progress Payment – Page 1 

 This Unconditional Waiver and Release on Progress Payment was acknowledged before me on this
            day of                     ,
20        , by                     , on behalf of
                    a                     .

  

	
	  
	Notary Public, State of Texas

  
 EXHIBIT L-4, Form of
Unconditional Waiver and Release on Progress Payment – Page 2 

 EXHIBIT M 
 FORM OF AFFIDAVIT OF COMPLETION 
 BEFORE ME, the undersigned authority, on
this day personally appeared                     (“Affiant”), the
                                    of
                                        , a
                                        
(“Owner”), known to me to be the person whose name is subscribed below, and who, being by me first duly sworn, did on his or her oath state as follows: 
 1. Owner: The name and address of Owner are: 
  

					
		  	 	  	

  

					
		  	 	  	

  

					
		  	 	  	

 2. Contractor. The name and address of the original contractor (“Contractor”) are:

  

					
		  	 	  	

  

					
		  	 	  	

  

					
		  	 	  	

 3. Improvements. Certain improvements (the “Improvements”) were furnished under an
original contract (“Contract”) between Owner and Contractor, which Improvements are generally described as follows: 
  

			
	 	 	
	 	 	.

 4. Real Property. Owner is the owner of the real property (the “Real Property”) situated
in             County, Texas, on which the Improvements were constructed and are located, which Real Property is more particularly described on Exhibit A attached hereto and made a part
hereof. 
 5. Completion. The Improvements under the Contract between Owner and Contractor have been completed within the
meaning of Texas Property Code §53.106, and the date of such completion was             , 201            (the “Date of
Completion”). 
 6. Affiant. Affiant is an authorized representative of Owner and has been duly authorized to
execute this Affidavit of Completion and cause it to be recorded with the County Clerk of the county in which the Real Property is situated. 
 NOTICE: A CLAIMANT MAY NOT HAVE A LIEN ON RETAINED FUNDS UNLESS THE CLAIMANT FILES THE AFFIDAVIT CLAIMING A LIEN NOT LATER THAN THE 30TH DAY AFTER THE DATE OF COMPLETION. 

  
 EXHIBIT M, Form of Affidavit
of Completion – Page 1 

 DATED this             day of
                    , 201    . 

 

			
	AFFIANT:
	
	  
	Name:	 	 
	An authorized representative of Owner

 SUBSCRIBED AND SWORN BEFORE ME, on this the
            day of                         ,
201    . 
  

	
	  
	Notary Public, State of Texas

  
 EXHIBIT M, Form of Affidavit
of Completion – Page 2 

 EXHIBIT A 
 Real Property 

  
 EXHIBIT M, Form of Affidavit
of Completion – Page 3 

 EXHIBIT N 
 FORM OF CERTIFICATE OF SUBSTANTIAL COMPLETION 
  
 

 
 Certificate of Substantial Completion 

 

					
	 PROJECT:

(Name and Address):
	  	 PROJECT NUMBER:

CONTRACT FOR: General Construction
 CONTRACT DATE:
	  	 OWNER:  ̈

 
 ARCHITECT:
 ̈
  

CONTRACTOR:  ̈

			
	 TO OWNER:

(Name and Address):
	  	 TO CONTRACTOR:
 (Name
and Address):
	  	 FIELD:  ̈

 
 OTHER:
 ̈

 PROJECT OR PORTION OF THE PROJECT DESIGNATED FOR PARTIAL OCCUPANCY OR USE SHALL INCLUDE: 

The Work performed under this Contract has been reviewed and found, to the Architect’s best knowledge, information and belief, to be substantially
complete. Substantial Completion is the stage in the progress of the Work when the Work or designated portion is sufficiently complete in accordance with the Contract Documents so that the Owner can occupy or utilize the Work for its intended use.
The date of Substantial Completion of the Project or portion designated above is the date of issuance established by this Certificate, which is also the date of commencement of applicable warranties required by the Contract Documents, except as
stated below: 
  

									
	 Warranty
	    		  	Date of Commencement
					
	 	    		  	 	    		  	 
	 ARCHITECT
	    		  	BY	    		  	DATE OF ISSUANCE

 A list of items to be completed or corrected is attached hereto. The failure to include any items on such list does not
alter the responsibility of the Contractor to complete all Work in accordance with the Contract Documents. Unless otherwise agreed to in writing, the date of commencement of warranties for items on the attached list will be the date of issuance of
the final Certificate of Payment or the date of final payment. 
 Cost estimate of Work that is incomplete or defective:
$                     
 The Contractor
will complete or correct the Work on the list of items attached hereto within             (            ) days from the above date
of Substantial Completion. 
  

									
	 	    		  	 	    		  	 
	 CONTRACTOR
	    		  	BY	    		  	DATE

 The Owner accepts the Work or designated portion as substantially complete and will assume full possession at
            (time) on             (date). 
  

									
	 	    		  	 	    		  	 
	 OWNER
	    		  	BY	    		  	DATE

 The responsibilities of the Owner and Contractor for security, maintenance, heat, utilities, damage to the Work and
insurance shall be as follows: 
 (Note: Owner’s and Contractor’s legal and insurance counsel should determine and review insurance
requirements and coverage.) 

  
 EXHIBIT N, Form of
Certificate of Substantial Completion – Page 1 

 Exhibit O 
  

											
	Project Name:	  	Peerless Mfg.	  	Draw Number: DRAFT	  	Date of Draw:	  	Developer:	  	Phone #:
						
	 	  	 	  	Draw Amount:	  	 	  	Contractor:	  	Phone #:

  

																																																									
	 	 	Final	 	 	Previous	 	 	Current	 	 	 	 	 	PREVIOUS FUNDING	 	 	CURRENT FUNDING	 	 	 	 	 	Total
Balance	 	 	 	 	 	Balance	 
	 	 	Budget	 	 	Change	 	 	Change	 	 	Adjusted	 	 	Previous	 	 	Borrower	 	 	CITIBANK	 	 	Requested	 	 	Borrower	 	 	CITBANK	 	 	 	 	 	Funded	 	 	%	 	 	to	 
	 Description
	 	at Closing	 	 	Orders	 	 	Orders	 	 	Budget	 	 	Draws	 	 	Equity	 	 	Funds	 	 	Draw	 	 	Equity	 	 	Funds	 	 	Retainage	 	 	(after draw)	 	 	Funded	 	 	Finish	 
	 Land Cost
	 	$	1,813,596.41	  	 	$	0.00	  	 	$	0.00	  	 	$	1,813,596.41	  	 	$	1,813,596.41	  	 	$	1,813,596.41	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	1,813,596.41	  	 	 	100.00	% 	 	$	0.00	  
	 Construction Contract
	 	$	9,839,572.00	  	 				 				 	$	9,839,572.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 				 	$	9,839,572.00	  
	 Site Work
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 General Conditions
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
		 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Contingency Reserve
	 	$	491,978.60	  	 				 				 	$	491,978.60	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	491,978.60	  
	 Tenant Improvements
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Security System
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
		 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
		 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
		 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 				 	  
	  
	 
	 Total Construction Costs
	 	$	10,331,550.60	  	 	$	0.00	  	 	$	0.00	  	 	$	10,331,550.60	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 				 	$	10,331,550.60	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 				 	  
	  
	 
	 Architectural
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Engineering-testing
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Appraisal
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Environmental
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Legal-Borrower atty.
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Legal -Citi atty.
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Title & closing costs
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Permit Fees
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 SBA Fees
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Inspection fees & cost review
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Citi Bank Commitment Fee
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Security System
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Project Manager Fee
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Builder’s Risk Ins.
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Landscaping
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
	 Building Signage
	 				 				 				 	$	0.00	  	 	$	0.00	  	 				 				 	$	0.00	  	 				 				 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 				 	  
	  
	 
	 Total Soft Costs
	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 				 	$	0.00	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 TOTAL COSTS
	 	$	12,145,147.01	  	 	$	0.00	  	 	$	0.00	  	 	$	12,145,147.01	  	 	$	1,813,596.41	  	 	$	1,813,596.41	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	0.00	  	 	$	1,813,596.41	  	 	 	14.93	% 	 	$	10,331,550.60	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 

 

																									
	Sources of	 	Original	 	 	%	 	 	 	 	 	Adjusted	 	 	Amount	 	 	Balance	 
	 Funds
	 	Amount	 	 	Total	 	 	Adjustments	 	 	Total	 	 	Funded	 	 	Remaining	 
	 Equity
	 	$	2,145,147.01	  	 	 	18	% 	 	$	0.00	  	 	$	2,145,147.01	  	 	$	1,813,596.41	  	 	$	331,550.60	  
	 Loan

Proceeds
	 	$	10,000,000.00	  	 	 	82	% 	 	$	0.00	  	 	$	10,000,000.00	  	 	$	0.00	  	 	$	10,000,000.00	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total
	 	$	12,145,147.01	  	 	 	100.00	% 	 	$	0.00	  	 	$	12,145,147.01	  	 	$	1,813,596.41	  	 	$	10,331,550.60	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Citi Loan

Proceeds
	 	$	4,760,000.00	  	 	 	0	% 	 	$	0.00	  	 	$	4,760,000.00	  	 	$	0.00	  	 	$	4,760,000.00	  

 

											
	Bank Allocation:	  	 	 	  	Previous	  	Current	  	Balance
	 	  	 	 	  	Draw	  	Draw	  	Remaining
	 Citi
	  	$	 4,760,000.00	  	  		  		  	
	 HSBC
	  	$	 2,860,000.00	  	  		  		  	
	 Compass
	  	$	 2,380,000.00	  	  		  		  	
		  	  
	  
	 	  		  		  	
		  	$	10,000,000.00	  	  		  		  	

 
 

 Schedule 7.05 
 Litigation 
 In June 2010, Peerless received notice from a customer
claiming approximately $9.1 million in repair costs associated with four heat exchangers sold by Alco Products, a division of Nitram, in 2006 prior to the Peerless’ acquisition of Nitram. The customer requested reimbursement for the repair
costs pursuant to Alco Products’ warranty obligations under the terms and conditions of the purchase order. Peerless has not received sufficient information to assess the validity of the claim and has notified the Nitram insurance carrier and
the selling stockholders of Nitram of this claim. Peerless believes if any valid claim exists, Peerless is entitled to be indemnified by Nitram selling stockholders pursuant to the terms of the Nitram acquisition agreement for any amounts that are
paid by Peerless in connection with such claim. At this time, Peerless cannot estimate any potential range of loss that may result from this asserted claim as Peerless has not received sufficient information to assess the validity of the claim. No
amount has been accrued in the financial statements for this claim as of June 30, 2012. At this time, Peerless has not been notified that any lawsuit has been filed by the customer. 

 Schedule 7.06 
 Environmental 
 In connection with Peerless’ acquisition of Nitram and
the related financing transactions, environmental site assessments were performed on both our existing manufacturing properties and Nitram’s properties in Cisco, Texas and Wichita Falls, Texas. These assessments involved visual inspection,
testing of soil and groundwater, interviews with site personnel and a review of publicly available records. The results of these assessments indicated soil and groundwater contamination at the dormant Vermont Street facility in Wichita Falls and
groundwater concerns at the Jacksboro Highway facility in Wichita Falls and the Cisco facilities. Additional sampling and evaluation of the groundwater concerns at the Jacksboro Highway and Cisco facilities indicated levels of impact did not exceed
applicable regulatory standards and that further investigation and remediation was not required. Soil remediation at the Vermont Street facility in Wichita Falls was completed in July 2009 and we will continue to monitor groundwater at the sites. We
have an accrued liability of $0.2 million at June 30, 2012, for the estimated costs relating to these environmental matters. We are seeking reimbursement for the full cost of the remediation and ongoing and future monitoring activities under
our purchase agreement with Nitram’s former stockholders in the amount of $0.6 million. Funds have been deposited into an escrow account that may be used to reimburse these costs. 

 Schedule 7.14 
 Subsidiaries 
 See attached. 

 PMFG, Inc. Corporate Structure 

 

	
	

 Schedule 9.02 
 Existing Indebtedness 
  

									
	 Obligor
	  	Obligee	 	  	Current Principal
Amount	 
	 Peerless Europe Ltd.
	  	 	Rainer Diekmann	  	  	€	1,000,000	  

 Schedule 9.03 
 Existing Liens 
  

											
	 ENTITY
	  	 STATE
	  	 JURISDICTION
	  	 SECURED PARTY
	  	 FILE NO.
FILE DATE
	  	 COLLATERAL
DESCRIPTION

	 PMFG, Inc.
	  	TX	  	SOS	  	 IKON
 Financial

Svcs
	  	 File No: 11-0000446874

File Date: 01/06/11
	  	All of the equipment now or hereafter leased by Lessor to Lessee in connection with that certain Master Agreement; and all accessions, additions, replacements, and substitutions
thereto and therefor and all proceeds including insurance proceeds thereof.
						
	 Peerless Mfg. Co.
	  	TX	  	SOS	  	 NMHG
 Financial

Services, Inc.
	  	 File No: 09-0007094140
 File
Date: 03/12/09
	  	All of the equipment now or hereafter leased by Lessor to Lessee; and all accessions, additions, replacements, and substitutions thereto and therefor and all proceeds including
insurance proceeds thereof.

 Schedule 9.05 
 Existing Investments 
 PMFG, Inc. owns 100% of the equity interests of Peerless Mfg. Co.

 Peerless Mfg. Co. owns 100% of the equity interests of each of: 
 1. Nitram Energy, Inc. 
 2. PMC Acquisition, Inc. 

3. Peerless Europe Ltd. 
 4. Peerless
Manufacturing Canada Ltd. 
 5. Peerless Asia Pacific Pte. Ltd. 
 Peerless Mfg. Co. owns 60% of the equity interests of Peerless Propulsys China Holdings LLC. 

Peerless Propulsys China Holdings LLC owns 100% of the equity interests of Peerless Manufacturing (Zhenjiang) Co. Ltd. 

Peerless Europe Ltd. owns 100% of the equity interests of Burgess-Manning Gmbh. 
 Nitram Energy, Inc. owns 100% of the equity interests of each of: 
 1. Burgess-Manning, Inc.

 2. BurMan Management, Inc. 
 3.
Bos-Hatten, Inc. 
 Burgess-Manning, Inc. owns (a) 100% of the equity interests of Burgess-Manning Europe Limited and (b) 51% of the
equity interests of Burgess Manning (India) Private Limited 
 Burgess-Manning Europe Limited owns 100% of the equity interests of each of:

 1. Burgess-Manning S.A. 
 2. Skimovex
B.V. 
 Peerless Mfg. Co. made two loans to Peerless Europe Ltd., its direct, wholly-owned subsidiary, each with a current principal balance of
£1,400,000.

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