Document:

Exhibit 10.11

 Exhibit 10.11 
 EXECUTION 
 AMENDED AND RESTATED 

REVOLVING CREDIT AGREEMENT 
 dated as of May 31, 2011 
 among 

PBF HOLDING COMPANY LLC, 
 DELAWARE CITY REFINING COMPANY LLC 
 PAULSBORO REFINING COMPANY LLC

 and 
 TOLEDO REFINING COMPANY LLC, 
 as Borrowers, 

and 
 THE
OTHER LOAN PARTIES PARTY HERETO, 
 as Loan Parties, 

THE LENDERS PARTY HERETO 
 and 
 UBS SECURITIES LLC, 

as a Co-Documentation Agent and Syndication Agent, 
 and 
 UBS SECURITIES LLC, 

DEUTSCHE BANK SECURITIES INC. 
 MORGAN STANLEY SENIOR FUNDING, INC. 
 and 

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH 
 as Joint Lead Arrangers and Joint Lead Bookmanagers 
 and 

UBS AG, STAMFORD BRANCH, 
 as Issuing Bank, Administrative Agent and a 
 Co-Collateral Agent,

 and 
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as a Co-Collateral Agent and a
Co-Documentation 
 Agent 
 and 
 UBS LOAN FINANCE LLC, as Swingline Lender 

Winston & Strawn LLP 
 200 Park Avenue 
 New York, NY 10166 

 TABLE OF CONTENTS 

 

							
	 Section
	  	 	  	Page	 
	
	ARTICLE I	  
	
	DEFINITIONS	  
			
	Section 1.01	  	Defined Terms	  	 	2	  
	Section 1.02	  	Classification of Loans and Borrowings	  	 	47	  
	Section 1.03	  	Terms Generally	  	 	47	  
	Section 1.04	  	Accounting Terms; GAAP	  	 	47	  
	Section 1.05	  	Resolution of Drafting Ambiguities	  	 	48	  
	
	ARTICLE II	  
	
	THE CREDITS	  
			
	Section 2.01	  	Commitments	  	 	48	  
	Section 2.02	  	Loans	  	 	48	  
	Section 2.03	  	Borrowing Procedure	  	 	50	  
	Section 2.04	  	Evidence of Debt; Repayment of Loans	  	 	51	  
	Section 2.05	  	Fees	  	 	52	  
	Section 2.06	  	Interest on Loans	  	 	53	  
	Section 2.07	  	Termination and Reduction of Commitments	  	 	53	  
	Section 2.08	  	Interest Elections	  	 	54	  
	Section 2.09	  	[Intentionally Omitted]	  	 	55	  
	Section 2.10	  	Optional and Mandatory Prepayments of Loans	  	 	55	  
	Section 2.11	  	Alternate Rate of Interest	  	 	57	  
	Section 2.12	  	Yield Protection	  	 	58	  
	Section 2.13	  	Breakage Payments	  	 	59	  
	Section 2.14	  	Payments Generally; Pro Rata Treatment; Sharing of Setoffs	  	 	59	  
	Section 2.15	  	Taxes	  	 	61	  
	Section 2.16	  	Mitigation Obligations; Replacement of Lenders	  	 	64	  
	Section 2.17	  	Swingline Loans	  	 	66	  
	Section 2.18	  	Letters of Credit	  	 	67	  
	Section 2.19	  	Defaulting Lenders	  	 	73	  
	Section 2.20	  	Increase in Commitments	  	 	75	  
	Section 2.21	  	Determination of Borrowing Base	  	 	78	  
	Section 2.22	  	Accounts; Cash Management	  	 	81	  
	
	ARTICLE III	  
	
	REPRESENTATIONS AND WARRANTIES	  
			
	Section 3.01	  	Organization; Powers	  	 	83	  
	Section 3.02	  	Authorization; Enforceability	  	 	83	  
	Section 3.03	  	No Conflicts	  	 	83	  
	Section 3.04	  	Financial Statements; Projections	  	 	84	  
	Section 3.05	  	Properties	  	 	85	  

  
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	 	  	  	  	Page	 
	Section 3.06	  	Intellectual Property	  	 	86	  
	Section 3.07	  	Equity Interests and Subsidiaries	  	 	86	  
	Section 3.08	  	Litigation; Compliance with Laws	  	 	87	  
	Section 3.09	  	[Reserved]	  	 	87	  
	Section 3.10	  	Federal Reserve Regulations	  	 	87	  
	Section 3.11	  	Investment Company Act	  	 	87	  
	Section 3.12	  	Use of Proceeds	  	 	87	  
	Section 3.13	  	Taxes	  	 	88	  
	Section 3.14	  	No Material Misstatements	  	 	88	  
	Section 3.15	  	Labor Matters	  	 	88	  
	Section 3.16	  	Solvency	  	 	89	  
	Section 3.17	  	Employee Benefit Plans	  	 	89	  
	Section 3.18	  	Environmental Matters	  	 	90	  
	Section 3.19	  	Insurance	  	 	91	  
	Section 3.20	  	Security Documents	  	 	91	  
	Section 3.21	  	Anti-Terrorism Laws	  	 	92	  
	Section 3.22	  	Location of Material Inventory	  	 	93	  
	Section 3.23	  	Accuracy of Borrowing Base	  	 	93	  
	
	ARTICLE IV	  
	
	CONDITIONS TO CREDIT EXTENSIONS	  
			
	Section 4.01	  	Conditions to Closing	  	 	93	  
	Section 4.02	  	Conditions to Initial Credit Extension	  	 	96	  
	Section 4.03	  	Conditions to All Credit Extensions	  	 	96	  
	Section 4.04	  	Conditions to Initial Credit Extension to an Eligible Subsidiary	  	 	97	  
	
	ARTICLE V	  
	
	AFFIRMATIVE COVENANTS	  
			
	Section 5.01	  	Financial Statements, Reports, etc.	  	 	99	  
	Section 5.02	  	Litigation and Other Notices	  	 	101	  
	Section 5.03	  	Existence; Businesses and Properties	  	 	101	  
	Section 5.04	  	Insurance	  	 	102	  
	Section 5.05	  	Obligations and Taxes	  	 	103	  
	Section 5.06	  	Employee Benefits	  	 	103	  
	Section 5.07	  	Maintaining Records; Access to Properties and Inspections; Annual Meetings	  	 	104	  
	Section 5.08	  	Use of Proceeds	  	 	105	  
	Section 5.09	  	Compliance with Environmental Laws; Environmental Reports	  	 	105	  
	Section 5.10	  	Additional Collateral; Additional Guarantors	  	 	105	  
	Section 5.11	  	Security Interests; Further Assurances	  	 	107	  
	Section 5.12	  	Information Regarding Collateral	  	 	108	  
	Section 5.13	  	[Reserved]	  	 	108	  
	Section 5.14	  	Affirmative Covenants with Respect to Leases	  	 	108	  
	Section 5.15	  	Borrowing Base-Related Reports	  	 	108	  
	Section 5.16	  	Inventory Appraisals	  	 	109	  
	Section 5.17	  	Preservation of Certain Agreements	  	 	110	  
	Section 5.18	  	Designation of Borrowers and Excluded Subsidiaries	  	 	110	  
	Section 5.19	  	Release of Non-Revolving Credit Priority Collateral	  	 	110	  

  
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	ARTICLE VI	  
	
	NEGATIVE COVENANTS	  
			
	Section 6.01	  	Indebtedness	  	 	111	  
	Section 6.02	  	Liens	  	 	114	  
	Section 6.03	  	Sale and Leaseback Transactions	  	 	118	  
	Section 6.04	  	Investment, Loan, Advances and Acquisition	  	 	119	  
	Section 6.05	  	Mergers and Consolidations	  	 	120	  
	Section 6.06	  	Asset Sales	  	 	121	  
	Section 6.07	  	Dividends	  	 	123	  
	Section 6.08	  	Transactions with Affiliates	  	 	124	  
	Section 6.09	  	Financial Covenant	  	 	126	  
	Section 6.10	  	Prepayments of Other Indebtedness; Modifications of Organizational Documents and Other Documents, etc.	  	 	126	  
	Section 6.11	  	Limitation on Certain Restrictions on Subsidiary Guarantors	  	 	127	  
	Section 6.12	  	Business	  	 	128	  
	Section 6.13	  	Fiscal Year	  	 	128	  
	Section 6.14	  	Compliance with Anti-Terrorism Laws	  	 	128	  
			
		  	ARTICLE VII	  			
			
		  	GUARANTEE	  			
			
	Section 7.01	  	The Guarantee	  	 	129	  
	Section 7.02	  	Obligations Unconditional	  	 	129	  
	Section 7.03	  	Reinstatement	  	 	130	  
	Section 7.04	  	Subrogation; Subordination	  	 	130	  
	Section 7.05	  	Remedies	  	 	131	  
	Section 7.06	  	Instrument for the Payment of Money	  	 	131	  
	Section 7.07	  	Continuing Guarantee	  	 	131	  
	Section 7.08	  	General Limitation on Guarantee Obligations	  	 	131	  
	Section 7.09	  	Release of Loan Parties	  	 	131	  
	Section 7.10	  	Right of Contribution	  	 	132	  
	
	ARTICLE VIII	  
	
	EVENTS OF DEFAULT	  
			
	Section 8.01	  	Events of Default	  	 	132	  
	Section 8.02	  	Application of Proceeds	  	 	135	  

  
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	 	  	 	  	Page	 
	
	ARTICLE IX	  
	
	THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT	  
			
	Section 9.01	  	Appointment and Authority	  	 	136	  
	Section 9.02	  	Rights as a Lender	  	 	136	  
	Section 9.03	  	Exculpatory Provisions	  	 	137	  
	Section 9.04	  	Reliance by Agent	  	 	138	  
	Section 9.05	  	Delegation of Duties	  	 	138	  
	Section 9.06	  	Resignation of Agent	  	 	138	  
	Section 9.07	  	Non-Reliance on Agent and Other Lenders	  	 	139	  
	Section 9.08	  	Withholding Tax	  	 	139	  
	Section 9.09	  	No Other Duties, etc.	  	 	140	  
	Section 9.10	  	Enforcement	  	 	140	  
	
	ARTICLE X	  
	
	MISCELLANEOUS	  
			
	Section 10.01	  	Notices	  	 	141	  
	Section 10.02	  	Waivers; Amendment	  	 	144	  
	Section 10.03	  	Expenses; Indemnity; Damage Waiver	  	 	147	  
	Section 10.04	  	Successors and Assigns	  	 	149	  
	Section 10.05	  	Survival of Agreement	  	 	152	  
	Section 10.06	  	Counterparts; Integration; Effectiveness	  	 	152	  
	Section 10.07	  	Severability	  	 	153	  
	Section 10.08	  	Right of Setoff	  	 	153	  
	Section 10.09	  	Governing Law; Jurisdiction; Consent to Service of Process	  	 	153	  
	Section 10.10	  	Waiver of Jury Trial	  	 	154	  
	Section 10.11	  	Headings	  	 	154	  
	Section 10.12	  	Treatment of Certain Information; Confidentiality	  	 	154	  
	Section 10.13	  	USA PATRIOT Act Notice and Customer Verification	  	 	155	  
	Section 10.14	  	Interest Rate Limitation	  	 	155	  
	Section 10.15	  	Lender Addendum	  	 	156	  
	Section 10.16	  	Obligations Absolute	  	 	156	  
	Section 10.17	  	Intercreditor Agreements	  	 	156	  
	Section 10.18	  	Release of Collateral	  	 	156	  
	Section 10.19	  	Permitted Amendments	  	 	157	  
	Section 10.20	  	Amendment and Restatement	  	 	158	  

  
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	ANNEXES	  	
		
	Annex I	  	Applicable Margin
		
	SCHEDULES	  	
		
	Schedule 1.01(b)	  	Subsidiary Guarantors
	Schedule 2.22	  	Blocked Accounts
	Schedule 3.03	  	Governmental Approvals; Compliance with Laws
	Schedule 3.06(c)	  	Violations or Proceedings
	Schedule 3.08	  	Litigation
	Schedule 3.18	  	Environmental Matters
	Schedule 3.19	  	Insurance
	Schedule 3.22	  	Material Inventory
	Schedule 6.01(b)	  	Existing Indebtedness
	Schedule 6.02(c)	  	Existing Liens
	Schedule 6.04(b)	  	Existing Investments
	Schedule 6.08	  	Transactions with Affiliates
		
	EXHIBITS	  	
		
	Exhibit A	  	Form of Administrative Questionnaire
	Exhibit B	  	Form of Assignment and Assumption
	Exhibit C	  	Form of Borrowing Request
	Exhibit D	  	Form of Compliance Certificate
	Exhibit E	  	Form of Interest Election Request
	Exhibit F	  	Form of Joinder Agreement
	Exhibit G	  	Form of Landlord Access Agreement
	Exhibit H	  	Form of LC Request
	Exhibit I	  	Form of Lender Addendum
	Exhibit J	  	Form of Mortgage
	Exhibit K-1	  	Form of Revolving Note
	Exhibit K-2	  	Form of Swingline Note
	Exhibit L-2	  	Form of Perfection Certificate Supplement
	Exhibit M	  	Form of Toledo Security Agreement
	Exhibit N	  	Form of Opinion of Company Counsel
	Exhibit O	  	Form of Solvency Certificate
	Exhibit P	  	Form of Intercompany Note
	Exhibit Q	  	Form of Non-Bank Certificate
	Exhibit R	  	Form of Borrowing Base Certificate

  
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 AMENDED AND RESTATED 

REVOLVING CREDIT AGREEMENT 
 This AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT (this “Agreement”) dated as of May 31, 2011, among PBF Holding Company LLC, a Delaware limited liability company
(“Holdings”), Delaware City Refining Company LLC, a Delaware limited liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a
Delaware limited liability company (“Paulsboro”) and Toledo Refining Company LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers”
and each individually, a “Borrower”), the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders, UBS SECURITIES LLC, MORGAN
STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers and joint bookmanagers (in such capacities, the “Joint Lead Arrangers”), UBS SECURITIES LLC, as a
co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity,
“Swingline Lender”), UBS AG, STAMFORD BRANCH, as issuing bank (in such capacity, “Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured
Parties and Issuing Bank and as a co-collateral agent (in such capacity, “UBS Collateral Agent”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and
together with UBS Collateral Agent, in such capacities as co-collateral agents, the “Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS
Co-Documentation Agent, in such capacities as co-documentation agents, the “Co-Documentation Agents”). 

WITNESSETH: 
 WHEREAS, Holdings, Delaware City and Paulsboro, as Borrowers, the Lenders party thereto, the Administrative Agent and the other Agents party thereto are parties to that certain Revolving Credit Agreement,
dated as of December 17, 2010 (as amended, supplemented or otherwise modified to date, the “Existing Revolving Credit Agreement”); and 
 WHEREAS, the parties hereto wish to amend and restate the Existing Revolving Credit Agreement in its entirety, as and to the extent set forth herein. 

NOW, THEREFORE, the Lenders are willing to extend such credit to Borrowers and the Issuing Bank is willing to issue letters of credit for
the account of Borrowers on the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows: 

 ARTICLE I 
 DEFINITIONS 
 SECTION 1.01 Defined Terms. 

As used in this Agreement, the following terms shall have the meanings specified below: 

“A&R Effective Date” shall mean the date on which the conditions set forth in Section 4.01 of this
Agreement are satisfied and this Agreement becomes effective pursuant to the provisions of Section 10.06. 

“ABR”, when used in reference to any Loan or Borrowing, is used when such Loan, or the Loans comprising such Borrowing,
are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “ABR Borrowing” shall
mean a Borrowing comprised of ABR Loans. 
 “ABR Loan” shall mean any ABR Revolving Loan. 

“ABR Revolving Loan” shall mean any Revolving Loan bearing interest at a rate determined by reference to the Alternate
Base Rate in accordance with the provisions of Article II. 
 “Accepting Lenders” shall have the meaning
provided in Section 10.19(a). 
 “Account Debtor” shall mean any person who may become obligated to
another person under, with respect to, or on account of, an Account. 
 “Accounts” shall mean all
“accounts,” as such term is defined in the UCC as in effect on the date hereof in the State of New York, in which such Person now or hereafter has rights. 
 “Acquisitions” shall mean the Paulsboro Acquisition and the Toledo Acquisition. 
 “Acquisition Agreements” shall mean the Paulsboro Acquisition Agreement and the Toledo Acquisition Agreement. 
 “Acquisition Consideration” shall mean the purchase consideration for any Permitted Acquisition and all other payments by Holdings or any of its Subsidiaries in exchange for, or as part
of, or in connection with, any Permitted Acquisition, whether paid in cash or by exchange of Equity Interests or of properties or otherwise and whether payable at or prior to the consummation of such Permitted Acquisition or deferred for payment at
any future time in respect thereof, whether or not any such future payment is subject to the occurrence of any contingency, and includes any and all payments representing the purchase price and any assumptions of Indebtedness, “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; provided
that any such future payment that is subject to a contingency shall be considered Acquisition Consideration only to the extent of the reserve, if any, required under GAAP at the time of such sale to be established in respect thereof by Holdings
or any of its Subsidiaries. 
 “Acquisition Documents” shall mean the Toledo Acquisition Documents and the
Paulsboro Acquisition Documents. 
 “Activation Notice” shall have the meaning assigned to such term in
Section 2.22. 
 “Adjusted LIBOR Rate” shall mean, with respect to any Eurodollar Borrowing for any
Interest Period, (a) an interest rate per annum (rounded upward, if necessary, to the nearest 1/100th of 1%) determined by the Administrative Agent to be equal to the LIBOR Rate for such Eurodollar Borrowing in effect for such Interest Period
divided by (b) 1 minus the Statutory Reserves (if any) for such Eurodollar Borrowing for such Interest Period. 

  
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 “Administrative Agent” shall have the meaning assigned to such term in the
preamble hereto and includes each other person appointed as the successor pursuant to Article X. 

“Administrative Borrower” shall mean Holdings or any successor entity serving in that role pursuant to
Section 2.03. 
 “Administrative Agent Fee” shall have the meaning assigned to such term in
Section 2.05(b). 
 “Administrative Questionnaire” shall mean an Administrative Questionnaire in
substantially the form of Exhibit A. 
 “Affiliate” shall mean, when used 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. 
 “Agents” shall mean the Administrative Agent and the Co-Collateral Agents; and “Agent” shall mean any of them. 

“Agreement” shall have the meaning assigned to such term in the preamble hereto. 

“Alternate Base Rate” shall mean, for any day, a fluctuating rate per annum (rounded upward, if necessary, to the
nearest 1/100th of 1%) equal to the greatest of (a) the Base Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 0.50% and (c) the Adjusted LIBOR Rate for an Interest Period of one-month
beginning on such day (or if such day is not a Business Day, on the immediately preceding Business Day) plus 100 basis points. If the Administrative Agent shall have determined (which determination shall be prima facie evidence thereof absent
manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition thereof,
the Alternate Base Rate shall be determined without regard to clause (b) of the preceding sentence until the circumstances giving rise to such inability no longer exist. Any change in the Alternate Base Rate due to a change in the Base Rate or
the Federal Funds Effective Rate shall be effective on the effective date of such change in the Base Rate or the Federal Funds Effective Rate, respectively. 
 “Anti-Terrorism Laws” shall mean any Requirement of Law related to terrorism financing or money laundering including the Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism Act (“USA PATRIOT Act”) of 2001 (Title III of Pub. L. 107-56), The Currency and Foreign Transactions Reporting Act (also known as the “Bank Secrecy Act”, 31 U.S.C. §§
5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959), the Trading With the Enemy Act (50 U.S.C. § 1 et seq., as amended) and Executive Order 13224 (effective September 24, 2001). 

“Applicable Fee” shall mean, for any day, with respect to the aggregate Commitments, (i) 0.375% if the average
daily unused amount of the aggregate Commitments is less than or equal to 50% and (ii) 0.50% if the average daily unused amount of the aggregate Commitments is greater than 50%. 

  
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 “Applicable Margin” shall mean, for any day, with respect to any Revolving
Loan the applicable percentage set forth in Annex I under the appropriate caption. 
 “Applicable
Percentage” shall mean, with respect to any Lender, the percentage of the total Loans and Commitments represented by such Lender’s Loans and Commitments. 
 “Approved Fund” shall mean 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. 
 “Aramco” shall mean Saudi Arabian Oil Company, a company with limited
liability (organized under the laws of the Kingdom of Saudi Arabia) and its Affiliates. 
 “Asset Sale” shall
mean, in each case to the extent in excess of (i) $1,000,000 in respect of transactions or series of related transactions affecting Revolving Credit Priority Collateral; and (ii) $4.0 million per transactions or series of related
transactions otherwise, (a) any conveyance, sale, assignment, transfer or other disposition (including by way of merger or consolidation and including any Sale and Leaseback Transaction) of any property (but excluding in any event sales of
inventory, transactions pursuant to the Morgan Stanley Off-Take Agreements and/or the Oil Supply Agreements, dispositions of cash and cash equivalents (including Cash Equivalents but excluding payments made in cash to the extent such payments are
not prohibited by the terms of this Agreement) and licenses of any Intellectual Property by Holdings or any of its Subsidiaries in the ordinary course of business) and (b) any issuance or sale of any Equity Interests of any Subsidiary of
Holdings, in each case, to any person other than (i) Borrowers, (ii) any Subsidiary Guarantor or (iii) other than for purposes of Section 6.06, any other Subsidiary. For the avoidance of doubt, the granting of a Permitted
Lien shall not constitute an “Asset Sale.” 
 “Assignment and Assumption” shall mean 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 10.04(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit B, or
any other form approved by the Administrative Agent. 
 “Attributable Indebtedness” shall mean, when used with
respect to any Sale and Lease-back Transaction, as at the time of determination, the present value (discounted at a rate equivalent to Holdings’ and its Subsidiaries’ then-current weighted average cost of funds for borrowed money as at the
time of determination, compounded on a semi-annual basis) of the total obligations of the lessee for rental payments during the remaining term of the lease included in any such Sale and Leaseback Transaction. 

“Auto-Renewal Letter of Credit” shall have the meaning assigned to such term in Section 2.18(c)(iii).

 “Available Amount Basket” shall mean (i) the sum of (without duplication) (A) $10,000,000,
plus (B) fifty percent (50%) of Consolidated Net Income (to the extent zero or positive) for the most recent date of determination, plus (C) the proceeds of any issuance of Equity Interests (other than Disqualified
Capital Stock) by Holdings, plus (D) capital contributions to Holdings, plus (E) unsecured debt issued by Holdings and the Subsidiary Guarantors after the Closing Date which is permitted to be issued under
Section 6.01(l), plus (F) Disqualified Capital Stock issued after the Closing Date that has been exchanged or converted into Equity Interests not constituting Disqualified Capital Stock, together with the fair value of any
property received upon such exchange or conversion, plus (G) the net proceeds 

  
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of sales of Investments made under Section 6.04(n), plus (H) returns, profits, distributions and similar amounts received on Investments made under
Section 6.04(n) (up to, but not in excess of, the amount of the original Investment), plus (I) the Investments of Holdings and its Subsidiaries in any Excluded Subsidiary that has been re-designated as a Subsidiary Guarantor
or that has been merged or consolidated into Holdings, another Borrower, or any of their respective Subsidiaries (other than an Excluded Subsidiary) that is a Subsidiary Guarantor or the fair market value of the assets of any Excluded Subsidiary
that have been transferred to Holdings, another Borrower, or any of their respective Subsidiaries (other than an Excluded Subsidiary) that is a Subsidiary Guarantor, in the case of each of the foregoing clauses to the extent not used or otherwise
applied to consummate Investments, Dividends and junior debt repayments, in the case of any such Investments, Dividends or junior debt repayments to the extent permitted under the terms of this Agreement and made pursuant to Sections 6.04(n),
6.07(d) and 6.10(a)(iv), respectively, plus (J) the aggregate amount of all cash dividends and other cash distributions received by any Borrower or any Subsidiary Guarantor from any minority interest, Excluded Subsidiary or
other Subsidiary (other than a Subsidiary Guarantor) after the Closing Date and on or prior to the relevant determination date, minus (ii) 100% of Consolidated Net Income (to the extent negative) of Holdings and its Subsidiaries for the
relevant period of determination. 
 “Average Daily Excess Availability” shall mean, for any period, the
average of Excess Availability for each day (measured at the end of each day) during such period. 
 “Bailee
Letter” shall have the meaning assigned thereto in the Security Agreements. 
 “Base Rate” shall mean,
for any day, a rate per annum that is equal to the corporate base rate of interest established by the Administrative Agent from time to time; each change in the Base Rate shall be effective on the date such change is effective. The corporate base
rate is not necessarily the lowest rate charged by the Administrative Agent to its customers. 
 “Blocked
Accounts” shall have the meaning assigned to such term in Section 2.22. 
 “Board” shall
mean the Board of Governors of the Federal Reserve System of the United States. 
 “Board of Directors” shall
mean, with respect to any person, (i) in the case of any corporation, the board of directors of such person, (ii) in the case of any limited liability company, the board of managers of such person, (iii) in the case of any
partnership, the Board of Directors of the general partner of such person and (iv) in any other case, the functional equivalent of the foregoing. 
 “Borrower” and “Borrowers” shall have the meanings assigned to such terms in the preamble hereto and shall include any Eligible Subsidiary which becomes a Borrower
pursuant to Section 2.20(b)(iv), Section 5.18(a) and Section 4.04 from time to time. 

“Borrowing” shall mean (a) Loans of the same Class and Type, 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, or (b) a Swingline Loan. 

“Borrowing Availability” shall mean at any time the lesser of (a) the Borrowing Base at such time and (b) the
aggregate amount of the Lenders’ Revolving Commitments at such time, in each case, less the aggregate Revolving Exposure of all Lenders at such time. 

  
 -5-

 “Borrowing Base” shall mean at any time, subject to adjustment as provided
in Section 2.21, an amount equal to the sum of, without duplication: 
 (a) the book value of Eligible Accounts of
the Borrowers with respect to investment grade obligors multiplied by the advance rate of 90%, plus, 
 (b) the book value of
Eligible Accounts of the Borrowers with respect to non-investment grade obligors multiplied by the advance rate of 85%, plus, 

(c) the Cost of Eligible Hydrocarbon Inventory of the Borrowers multiplied by the advance rate of 80%, plus 

(d) 100% of the cash and Cash Equivalents in deposit accounts subject to Control Agreements under Section 2.22, minus

 (e) the sum of (i) any Reserves established from time to time by the Co-Collateral Agents in accordance with the terms
and conditions of this Agreement, and (ii) Hedging Reserves. 
 The Borrowing Base at any time shall be determined by
reference to the most recent Borrowing Base Certificate theretofore delivered to the Administrative Agent and the Co-Collateral Agents so long as the Borrowing Base is calculated in accordance with the terms of this Agreement. 

“Borrowing Base Certificate” shall mean an Officers’ Certificate from Administrative Borrower, substantially in the
form of, and containing the information prescribed by, Exhibit R, delivered to the Administrative Agent and Co-Collateral Agents setting forth Borrowers’ calculation of the Borrowing Base. 

“Borrowing Request” shall mean a request by Administrative Borrower in accordance with the terms of
Section 2.03 and substantially in the form of Exhibit C, or such other form as shall be approved by the Administrative Agent. 
 “Business Day” shall mean any day other than a Saturday, Sunday or other day on which banks in New York City are authorized or required by law to close; provided, however,
that when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market. 

“Capital Assets” shall mean, with respect to any person, all equipment, fixed assets and Real Property or improvements
of such person, or replacements or substitutions therefor or additions thereto, that, in accordance with GAAP, have been or should be reflected as additions to property, plant or equipment on the balance sheet of such person. 

“Capital Expenditures” shall mean, for any period, without duplication, all expenditures made directly or indirectly by
Borrowers and their Subsidiaries during such period for Capital Assets (whether paid in cash or other consideration, financed by the incurrence of Indebtedness or accrued as a liability) as determined in accordance with GAAP, but excluding
(i) expenditures made in connection with the replacement, substitution or restoration of property pursuant to Section 2.10(d), (ii) any portion of such increase attributable solely to acquisitions of property, plant and
equipment in Permitted Acquisitions, and (iii) except for purposes of the definition of “Excluded Issuance,” any leases that as of the date hereof qualify as operating leases under GAAP (whether or not such leases are required to be
accounted 

  
 -6-

 
for as capital leases under GAAP after the date hereof). For purposes of this definition, the purchase price of equipment or other fixed assets that are purchased simultaneously with the trade-in
of existing assets or with insurance 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 assets for the assets being traded in at
such time or the amount of such insurance proceeds, as the case may be. 
 “Capital Lease Obligations” of any
person shall mean 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. 

“Cash Equivalents” shall mean, as to any person, 

(1) securities issued or directly and fully and unconditionally guaranteed or insured by the United States government or any agency or
instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government with maturities of 12 months or less from the date of acquisition; 

(2) certificates of deposit, time deposits and eurodollar time deposits with maturities of one year or less from the date of acquisition,
bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case with any domestic or foreign commercial bank in the United States having capital and surplus of not less than $500,000,000; 

(3) repurchase obligations with a term of not more than 30 days for underlying securities of the types described in clauses (1),
(2) entered into with any financial institution meeting the qualifications specified in clause (2) above; 
 (4)
commercial paper rated at least P-1 by Moody’s Investors Service Inc. or at least A-1 by Standard & Poor’s Ratings Group and in each case maturing within 24 months after the date of creation thereof and Indebtedness or preferred
stock issued by Persons with a rating of “A” or higher from Standard & Poor’s Ratings Group or “A2” or higher from Moody’s Investors Service Inc. with maturities of 24 months or less from the date of
acquisition; 
 (5) readily marketable direct obligations issued by any state, commonwealth or territory of the United States or
any political subdivision or taxing authority thereof having a rating of “BBB+” or higher from Standard & Poor’s Ratings Group or “Baa1” or higher from Moody’s Investors Service Inc. with maturities of 24
months or less from the date of acquisition; or 
 (6) Investments with average maturities of 12 months or less from the date of
acquisition in money market funds rated within the top three ratings category by Standard & Poor’s Ratings Group or Moody’s Investors Service Inc. 
 “Cash Interest Expense” shall mean, for any period, Consolidated Interest Expense for such period paid or payable in cash, and excluding in any event the sum of (a) interest on any
debt paid by the increase in the principal amount of such debt including by issuance of additional debt of such kind or otherwise paid other than in cash, (b) items described in clause (c) or, other than to the extent paid in cash, clause
(g) of the definition of “Consolidated Interest Expense” and (c) an amount equal to the gross interest income of Holdings and its Subsidiaries for such period. 

  
 -7-

 “Cash Management System” shall have the meaning assigned to such term in
Section 2.22. 
 “Casualty Event” shall mean any involuntary loss of title, any involuntary loss
of, damage to or any destruction of, or any condemnation or other taking (including by any Governmental Authority) of, any property of Holdings or any of its Subsidiaries (other than Excluded Subsidiaries). “Casualty Event” shall include
but not be limited to any taking of all or any part of any Real Property of Holdings or any Subsidiary (other than an Excluded Subsidiary) or any part thereof, in or by condemnation or other eminent domain proceedings pursuant to any Requirement of
Law, or by reason of the temporary requisition of the use or occupancy of all or any part of any Real Property of any person or any part thereof by any Governmental Authority, civil or military, or any settlement in lieu thereof. 

“Catalyst Assets” shall mean all existing and hereafter acquired catalyst assets and inventory, precious metals assets
and precious metals inventory and all additions and accessions thereto, all proceeds resulting therefrom, including insurance proceeds, and all rights and privileges incident thereto. 

“CERCLA” shall mean the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42
U.S.C. § 9601 et seq. and all implementing regulations. 
 “Certain Hydrocarbon Assets” shall mean
crude oil, feedstock, indigenous feedstock and other hydrocarbon inventory of the same type sold to the Loan Parties by Statoil and/or its Affiliates, in each instance, other than to the extent owned by Toledo, and all proceeds of such crude oil,
feedstock, indigenous feedstock or other hydrocarbon inventory of the same type (it being understood and agreed that immediately upon any payment in cash to the Loan Parties in respect of such crude oil, feedstock or other hydrocarbon inventory of
the same type, such proceeds shall cease to be “Certain Hydrocarbon Assets”). For the avoidance of doubt, Certain Hydrocarbon Assets shall not include Intermediate Products. 

“Certain MSCG Receivables” shall mean accounts originated by the sale of finished gasoline, lube oil, specialty grades,
slurry, diesel fuel, heating oil, jet fuel and other finished refined products of the same type sold by the Loan Parties to MSCG and/or its Affiliates under the Morgan Stanley Off-Take Agreements (it being understood and agreed that upon collection
of such accounts by virtue of payment in cash in respect thereof to any Loan Party, the proceeds of such accounts will cease to be “Certain MSCG Receivables”). For the avoidance of doubt, “Certain MSCG Receivables” shall include
accounts originating from specialty grades and lube oil but shall exclude accounts originating from Intermediate Products, components of gasoline, heating oil, diesel or jet fuel and all other products other than those specifically listed above in
this definition. 
 A “Change in Control” shall be deemed to have occurred if: 

(a) Holdings at any time ceases to own 100% of the Equity Interests of Delaware City or Paulsboro; 

(b) at any time a change of control occurs under any Material Indebtedness; 

  
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 (c) prior to an IPO, the Permitted Holders (collectively) shall fail,
directly or indirectly, (i) to own, or to have the power to vote or direct the voting of, Voting Stock of Parent representing a majority of the voting power of the total outstanding Voting Stock of Parent or (ii) to own Equity Interests
representing a majority of the total economic interests of the Equity Interests of Parent; or 
 (e) upon and
following an IPO, so long as the proceeds of such IPO are used to repay in full in cash all obligations outstanding under the Term Loan Documents (other than any Unasserted Contingent Obligations), (A) the Permitted Holders (collectively) shall
fail (i) to own, or to have the power to vote or direct the voting of, Voting Stock of Holdings representing more than 35% of the voting power of the total outstanding Voting Stock of Holdings, or (ii) to own Equity Interests representing
more than 35% of the total economic interests of the Equity Interests of Holdings and a “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) ( but excluding any employee benefit plan of
such person and 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 Holders, shall become the “beneficial owner” (as defined in
Rules 13(d)-3 and 13(d)-5 under such Act), directly or indirectly, of more than the greater of (x) thirty-five percent (35%) of the then outstanding Voting Stock of Holdings, and (y) the percentage of the then outstanding Voting Stock
of Holdings, owned, directly or indirectly, beneficially by the Permitted Holders; and (B) during any period of two consecutive years, individuals who at the beginning of such period constituted the Board of Directors of Holdings (together with
any new directors whose election to such Board of Directors or whose nomination for election was approved by a vote of a majority of the members of the Board of Directors of Holdings, which members comprising such majority are then still in office
and were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors of Holdings. 

For purposes of this definition, a person shall not be deemed to have beneficial ownership of Equity Interests subject to a stock
purchase agreement, merger agreement or similar agreement until the consummation of the transactions contemplated by such agreement. 
 “Change in Law” shall mean the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking into effect of any law, treaty, order, policy, rule
or regulation, (b) any change in any law, treaty, order, policy, rule or regulation or in the administration, interpretation or application thereof by any Governmental Authority or (c) the making or issuance of any request, guideline or
directive (whether or not having the force of law) by any Governmental Authority. 
 “Charges” shall have the
meaning assigned to such term in Section 10.14. 
 “Class,” when used in reference to any Loan or
Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans, Incremental Revolving Loans or Swingline Loans and, when used in reference to any Commitment, refers to whether such Commitment is a Revolving
Commitment or Swingline Commitment, in each case, under this Agreement as originally in effect or pursuant to Section 2.20, of which such Loan, Borrowing or Commitment shall be a part. 

“Closing Date” shall mean December 17, 2010. 

“Code” shall mean the Internal Revenue Code of 1986. 

  
 -9-

 “Collateral” shall mean, collectively, all of the Security Agreement
Collateral, the Mortgaged Property and all other property of whatever kind and nature subject or purported to be subject from time to time to a Lien under any Security Document. For the avoidance of doubt, “Collateral” does not include any
assets of and any Equity Interests issued by any Excluded Subsidiary. 
 “Co-Collateral Agents” shall have the
meaning assigned to such term in the preamble hereto. 
 “Co-Documentation Agents” shall have the meaning
assigned to such term in the preamble hereto. 
 “Collection Account” shall have the meaning assigned to such
term in Section 2.22. 
 “Commercial Letter of Credit” shall mean any letter of credit or similar
instrument issued for the purpose of providing credit support in connection with the purchase of materials, goods or services by, and/or other general corporate purpose of, Borrowers or any of their Subsidiaries. 

“Commitment” shall mean, with respect to any Lender, such Lender’s Revolving Commitment or Swingline Commitment,
and any Commitment to make Revolving Loans extended by such Lender as provided in Section 2.20. 

“Commitment Fee” shall have the meaning assigned to such term in Section 2.05(a). 

“Commodity Hedging Agreement” shall mean any agreement (including any master agreement or master netting agreement) that
evidences or provides for a swap, cap, collar, floor, put, call, option, future, other derivative, spot purchase or sale, forward purchase or sale, supply or off-take, transportation agreement, storage agreement or other commercial or trading
agreement in or involving crude oil, natural gas, any feedstock, blendstock, intermediate product, finished product, refined product or other hydrocarbons product, or any other energy, weather or emissions related commodity (including any crack
spread), or any prices or price indices relating to any of the foregoing commodities, or any economic index or measure of economic risk or value, or other benchmark against which payments or deliveries are to be made (including any combination of
such transactions). 
 “Companies” shall mean Holdings and its Subsidiaries (other than Excluded Subsidiaries);
and “Company” shall mean any one of them. 
 “Compliance Certificate” shall mean a certificate
of a Financial Officer substantially in the form of Exhibit D. 
 “Consolidated Amortization Expense”
shall mean, for any period, the amortization expense of Holdings and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP. 
 “Consolidated Depreciation Expense” shall mean, for any period, the depreciation expense of Holdings and its Subsidiaries for such period, determined on a consolidated basis in accordance
with GAAP. 

  
 -10-

 “Consolidated EBITDA” shall mean, for any period, Consolidated Net Income
for such period, adjusted (without duplication) by (x) adding thereto, in each case only to the extent (and in the same proportion) deducted in determining such Consolidated Net Income and without duplication (and with respect to the
portion of Consolidated Net Income attributable to any Subsidiary that is an Excluded Subsidiary of Holdings only if a corresponding amount would be permitted at the date of determination to be distributed to Holdings by such Subsidiary that is an
Excluded Subsidiary without prior approval (that has not been obtained), pursuant to the terms of its Organizational Documents and all agreements, instruments and Requirements of Law applicable to such Subsidiary): 

(a) Consolidated Interest Expense for such period, plus 

(b) Consolidated Amortization Expense for such period, plus 

(c) Consolidated Depreciation Expense for such period, plus 

(d) Consolidated Tax Expense for such period, plus 

(e) fees, costs, liabilities and expenses incurred in connection with the Transactions (not to exceed $20,000,000) in the
aggregate, plus 
 (f) the aggregate amount of all other non-cash charges, expenses or losses reducing
Consolidated Net Income (excluding any non-cash charge, expense or loss that results in an accrual of a reserve for cash charges in any future period and any non-cash charge, expense or loss relating to write-offs, write-downs or reserves with
respect to accounts or inventory) for such period, plus 
 (g) any fees, charges and expenses incurred during
such period (other than Consolidated Depreciation Expense or Consolidated Amortization Expense), in connection with any acquisition, Investment, Asset Sale, other disposition of assets, issuance or repayment of Indebtedness, issuance of Equity
Interests, refinancing transaction or amendment or modification of any debt instrument (in each case, including any such transaction consummated prior to the Closing Date and any such transaction undertaken but not completed) and any charges or
non-recurring merger costs incurred during such period as a result of any such transaction (including, without limitation, any non-cash expenses or charges recorded in accordance with GAAP relating to equity interests issued to non-employees in
exchange for services provided in connection with the Transactions), plus 
 (h) the amount of any restructuring
charges, integration costs, retention charges, stock option and any other equity-based compensation expenses or other business optimization expenses, including, without limitation, costs associated with improvements to IT and accounting functions,
costs associated with establishing new facilities, costs or reserves deducted (and not added back) in such period in computing Consolidated Net Income, including any one-time costs incurred in connection with acquisitions after the Closing Date and
costs related to the closure and/or consolidation of facilities, plus 
 (i) any extraordinary, non-recurring or
unusual gains or losses or expenses, severance, relocation costs or payments and curtailments or modifications to pension and post-retirement employee benefit plans, plus 

  
 -11-

 (j) any other non-cash charges, expenses or losses including any write offs
or write downs reducing Consolidated Net Income for such period and any non-cash expense relating to the vesting of warrants (provided that if any such non-cash charges represent an accrual or reserve for potential cash items in any future period,
the cash payment in respect thereof in such future period shall be subtracted from Consolidated EBITDA to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period), plus 

(k) the amount of customary indemnities and expenses paid or accrued in such period to the Sponsors and deducted (and not
added back) in such period in computing Consolidated Net Income, in an aggregate amount not to exceed $5,000,000 in any fiscal year, plus 
 (l) any costs or expense incurred pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder
agreement, to the extent that such cost or expenses are funded with cash proceeds by third Persons that are not Loan Parties contributed to the capital of Holdings or any Subsidiary, plus 

(m) any net loss from disposed or discontinued operations, and 

(n) to the extent not already included in the Consolidated Net Income of such Person and its Subsidiaries, notwithstanding
anything to the contrary in the foregoing, Consolidated EBITDA shall include the amount of cash proceeds received from business interruption insurance and reimbursements of any expenses and charges that are covered by indemnification or other
reimbursement provisions in connection with any investment or any sale, conveyance, transfer or other disposition of assets permitted hereunder, and 
 (y) subtracting therefrom (A) any net gain from disposed or discontinued operations and (B) the aggregate amount of all non-cash items increasing Consolidated Net Income (other than the
accrual of revenue or recording of receivables in the ordinary course of business) for such period. 
 Consolidated EBITDA shall
be calculated on a Pro Forma Basis to give effect to the Acquisitions, any Permitted Acquisition and Asset Sales (other than any dispositions in the ordinary course of business) and the conversion of any Excluded Subsidiary into a Subsidiary
Guarantor consummated at any time on or after the first day of the Test Period and prior to the date of determination as if such Acquisition and each such Permitted Acquisition or conversion of an Excluded Subsidiary into a Subsidiary Guarantor had
been effected on the first day of such period and as if each such Asset Sale had been consummated on the day prior to the first day of such period. 
 For purposes of the covenants set forth in Article VI, Consolidated EBITDA shall not include any Consolidated Net Income or, without duplication, any other amounts attributable to an Excluded
Subsidiary, except to the extent actually distributed in cash to, and actually received by, a Loan Party. 

“Consolidated Fixed Charge Coverage Ratio” shall mean, for any Test Period, the ratio of (a) Consolidated EBITDA
for such Test Period to (b) Consolidated Fixed Charges for such Test Period. For the avoidance of doubt, Consolidated EBITDA shall not include any Consolidated Net Income or, without duplication, any other amounts attributable to an Excluded
Subsidiary, except to the extent actually distributed in cash to, and actually received by, a Loan Party. 

  
 -12-

 “Consolidated Fixed Charges” shall mean, for any period, the sum, without
duplication, of 
 (a) Consolidated Interest Expense for such period; 

(b) the aggregate amount of Unfinanced Capital Expenditures of Holdings and its Subsidiaries (other than Excluded
Subsidiaries) for such period; 
 (c) all cash payments in respect of income taxes of Holdings and its
Subsidiaries (other than Excluded Subsidiaries which are not part of the consolidated tax group of Holdings or any Subsidiary Guarantor) made during such period (net of any cash refund in respect of income taxes actually received during such
period); 
 (d) the principal amount of all scheduled amortization payments on all Indebtedness (including the
principal component of all Capital Lease Obligations) of Holdings and its Subsidiaries (other than Excluded Subsidiaries) for such period (as determined on the first day of the respective period); 

(e) all cash dividend payments on any series of Disqualified Capital Stock of Holdings or any of its Subsidiaries (other
than Excluded Subsidiaries) (other than dividend payments to Borrowers or any of their Subsidiaries that are Subsidiary Guarantors); and 
 (f) all cash dividend payments on any Preferred Stock (other than Disqualified Capital Stock) of Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) (other than dividend payments to
Borrowers or any of their Subsidiaries that are Subsidiary Guarantors). 
 “Consolidated Interest Coverage
Ratio” shall mean, for any Test Period, the ratio of (x) Consolidated EBITDA for such Test Period to (y) Consolidated Interest Expense for such Test Period. 
 “Consolidated Interest Expense” shall mean, for any period, the total consolidated interest expense of Holdings and its Subsidiaries (other than Excluded Subsidiaries) for such period
determined on a consolidated basis in accordance with GAAP plus, without duplication: 
 (a) imputed
interest on Capital Lease Obligations and Attributable Indebtedness of Holdings and its Subsidiaries (other than Excluded Subsidiaries) for such period; 
 (b) commissions, discounts and other fees and charges owed by Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) with respect to letters of credit securing financial obligations,
bankers’ acceptance financing and receivables financings for such period; 
 (c) amortization of debt
issuance costs, debt discount or premium and other financing fees and expenses incurred by Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) for such period; 

(d) cash contributions to any employee stock ownership plan or similar trust made by Holdings or any of its Subsidiaries
(other than Excluded Subsidiaries) to the extent such contributions are used by such plan or trust to pay interest or fees to any person (other than Delaware City, Paulsboro or any of their respective Wholly Owned Subsidiaries) in connection with
Indebtedness incurred by such plan or trust for such period; 

  
 -13-

 (e) all interest paid or payable with respect to discontinued operations of
Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) for such period; 
 (f) the interest
portion of any deferred payment obligations of Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) for such period; 
 (g) all interest on any Indebtedness of Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) of the type described in clause (f) or (k) of the definition of
“Indebtedness” for such period; 
 (h) minus the total consolidated interest income of Holdings
and its Subsidiaries (other than Excluded Subsidiaries) for such period; 
 provided that (a) to the extent directly related to the
Transactions, debt issuance costs, debt discount or premium and other financing fees, costs and expenses shall be excluded from the calculation of Consolidated Interest Expense and (b) Consolidated Interest Expense shall be calculated after
giving effect to Hedging Agreements related to interest rates (including associated costs), but excluding unrealized gains and losses with respect to Hedging Agreements related to interest rates. 

Consolidated Interest Expense shall be calculated on a Pro Forma Basis to give effect to any Indebtedness (other than Indebtedness
incurred for ordinary course working capital needs under ordinary course revolving credit facilities) incurred, assumed or permanently repaid or extinguished at any time on or after the first day of the Test Period and prior to the date of
determination in connection with the Acquisitions, any Permitted Acquisitions and Asset Sales (other than any dispositions in the ordinary course of business) as if such incurrence, assumption, repayment or extinguishing had been effected on the
first day of such period. 
 “Consolidated Net Income” shall mean, for any period, the consolidated net income
(or loss) of Holdings and its Subsidiaries (except for Excluded Subsidiaries unless distributed in cash to, and actually received by, a Loan Party) determined on a consolidated basis in accordance with GAAP; provided that there shall be
excluded from such net income (to the extent otherwise included therein), without duplication: 
 (a) the net
income (or loss) of any person (other than a Borrower or a Subsidiary Guarantor) in which any person other than Holdings, the other Borrowers and the Subsidiary Guarantors has an ownership interest, except to the extent that cash in an amount equal
to any such income has actually been received by Borrowers or Subsidiary Guarantors; 
 (b) the net income of any
Subsidiary of Holdings (other than a Subsidiary Guarantor) during such period to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary (other than a Subsidiary Guarantor) of that income is not permitted
as of the relevant date of determination by operation of the terms of its Organizational Documents or any agreement, instrument or Requirement of Law applicable to that Subsidiary (other than a Subsidiary Guarantor) during such period, except that
Holdings’ equity in net loss of any such Subsidiary for such period shall be included in determining Consolidated Net Income; 
 (c) the after-tax effect of any extraordinary gain (or loss) realized during such period by Holdings or any of its Subsidiaries upon any Asset Sale by Holdings or any of its Subsidiaries; 

  
 -14-

 (d) the after-tax effect of gains and losses due solely to fluctuations in
currency values determined in accordance with GAAP for such period; 
 (e) earnings resulting from any
reappraisal, revaluation or write-up of assets; 
 (f) unrealized gains and losses with respect to Hedging
Obligations for such period; and 
 (g) the after-tax effect of any extraordinary or nonrecurring gain (or
extraordinary or non-recurring loss) recorded or recognized by Holdings or any of its Subsidiaries during such period; 
 (h) the cumulative effect of changes in accounting principles during such period; 
 (i) the after-tax effects of adjustments (including the effects of such adjustments pushed down to Holdings and Subsidiaries) in the property and equipment, inventory and other intangible assets, deferred
revenue and debt line items in such Person’s consolidated financial statements pursuant to GAAP resulting from the application of purchase accounting in relation to the Transactions or any consummated acquisition or the amortization or
write-off of any amounts thereof, 
 (j) the after-tax effect of income (or loss) from the early extinguishment
of Indebtedness or swap obligations under Hedging Agreements or other derivative instruments; 
 (k) any
impairment charge or asset write-off, in each case pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP, 
 (l) any non-cash compensation expense recorded from grants of stock appreciation or similar rights, stock options, restricted stock or other rights shall be excluded, and 

(m) any fees and expenses incurred during such period, or any amortization thereof for such period, in connection with any
acquisition, Asset Sale, other disposition of assets, recapitalization, Investment, issuance or repayment of Indebtedness, issuance of Equity Interests, refinancing transaction or amendment or modification of any debt instrument (in each case,
including any such transaction consummated prior to the Closing Date and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of any such transaction. 

“Consolidated Tax Expense” shall mean, for any period, the tax expense of Holdings and its Subsidiaries, for such
period, determined on a consolidated basis in accordance with GAAP. 
 “Contested Collateral Lien Conditions”
shall mean, with respect to any Permitted Lien of the type described in clauses (b), (e) and (f) of Section 6.02, the following conditions: 

(a) Borrowers shall cause any proceeding instituted contesting such Lien to stay the sale or forfeiture of any portion of
the Collateral on account of such Lien; and 
 (b) at the option and at the reasonable request of the
Administrative Agent, to the extent such Lien is in an amount in excess of $250,000, the appropriate Loan Party shall maintain cash reserves in an amount sufficient to pay and discharge such Lien and the Administrative Agent’s reasonable
estimate of all interest and penalties related thereto. 

  
 -15-

 “Contingent Obligation” shall mean, as to any person, any obligation,
agreement, understanding or arrangement of such person guaranteeing or intended to guarantee any Indebtedness (“primary obligations”) of any other person (the “primary obligor”) in any manner, whether directly or
indirectly, including any obligation of such person, whether or not contingent, (a) to purchase any such primary obligation or any property constituting direct or indirect security therefor; (b) to advance or supply funds (i) for the
purchase or payment of any such primary obligation or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor; (c) to purchase property, securities
or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation; (d) with respect to bankers’ acceptances, letters of credit and
similar credit arrangements, until a reimbursement obligation arises; or (e) otherwise to assure or hold harmless the holder of such primary obligation against loss in respect thereof; provided, however, that the term
“Contingent Obligation” shall not include endorsements of instruments for deposit or collection in the ordinary course of business or any product warranties and other customary contractual indemnities. The amount of any Contingent
Obligation shall be deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is made (or, if less, the maximum amount of such primary obligation for which such person
may be liable, whether singly or jointly, pursuant to the terms of the instrument evidencing such Contingent Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such person is
required to perform thereunder) as determined by such person in good faith. 
 “Control” shall mean 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 ownership of voting securities, by contract or otherwise, and the terms “Controlling”
and “Controlled” shall have meanings correlative thereto. 
 “Control Agreement” shall have
the meaning assigned to such term in the Security Agreements. 
 “Controlled Investment Affiliate” shall mean,
as to any person, any other person which directly or indirectly is in Control of, is Controlled by, or is under common Control with, such person and is organized by such person (or any person Controlling such person) primarily for making equity or
debt investments in Holdings or other portfolio companies. 
 “Cost” shall mean, as determined by the
Co-Collateral Agents acting reasonably and in good faith consistent with customary industry practice for asset-based financings in the refining industry, with respect to hydrocarbon Inventory, the lower of (a) landed cost computed on a first-in
first-out basis in accordance with GAAP and (b) market value; provided, that for purposes of the calculation of the Borrowing Base, (i) the Cost of the hydrocarbon Inventory shall not include: (A) the portion of the cost of
hydrocarbon Inventory equal to the profit earned by any Affiliate on the sale thereof to a Loan Party or (B) write-ups or write-downs in cost with respect to currency exchange rates, and (ii) notwithstanding anything to the contrary
contained herein, the cost of the hydrocarbon Inventory shall be computed in the same manner and consistent with the most recent Inventory Appraisal which has been received and approved by the Co-Collateral Agents acting reasonably consistent with
customary industry practice for asset-based financings in the refining industry. 

  
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 “Credit Extension” shall mean, as the context may require, (i) the
making of a Loan by a Lender or (ii) the issuance of any Letter of Credit, or the amendment, extension or renewal of any existing Letter of Credit to the effect of increasing its face amount or extending its expiration date, by the Issuing
Bank. 
 “DCR Facility” shall mean Delaware City’s petroleum refinery, terminalling facility and all
related assets and properties located in New Castle County, Delaware City, Delaware. 
 “Debt Issuance” shall
mean the incurrence by Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) of any Indebtedness after the Closing Date (other than as permitted by Section 6.01). 

“DEDA” shall mean The Delaware Economic Development Authority, a body corporate and politic constituted as an
instrumentality of the State of Delaware. 
 “DEDA Intercreditor Agreement” shall mean that certain
Intercreditor Agreement, dated as of December 17, 2010, among UBS AG, Stamford Branch, as ABL Agent, UBS AG, Stamford Branch, as Term Loan Agent, and DEDA, as amended by the DEDA Intercreditor Agreement Amendment. 

“DEDA Intercreditor Agreement Amendment” shall mean an amendment to the DEDA Intercreditor Agreement, dated as of the
date hereof, in form and substance reasonably satisfactory to the Administrative Agent. 
 “DEDA Loan and Security
Agreement” shall mean that certain Loan and Security Agreement entered into as of June 1, 2010 by and among Delaware City, as borrower and DEDA, as lender under which DEDA agreed to make a loan to Paulsboro in the amount of
$20,000,000, which loan is evidenced by a promissory note dated June 1, 2010 and has a maturity date of March 1, 2017. 
 “DEDA Specified Collateral” shall have the meaning assigned to such term in the DEDA Intercreditor Agreement. 
 “Default” shall mean any event, occurrence or condition which is, or upon notice, lapse of time or both would constitute, an Event of Default. 

“Default Rate” shall have the meaning assigned to such term in Section 2.06(c). 

“Defaulting Lender” shall mean any Lender, as determined by the Administrative Agent, that (a) has failed to fund
any portion of its Loans or participations in Letters of Credit or Swingline Loans required to be funded by it hereunder within one Business Day of the date required to be funded by it hereunder, (b) has notified the Administrative Agent, the
Issuing Bank, the Swingline Lender, any Lender and/or Borrowers in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does not intend to comply with
its funding obligations under this Agreement or under any other agreements in which it commits to extend credit, (c) has failed, within two Business Days after request by the Administrative Agent, to confirm that it will comply with the terms
of this Agreement relating to its obligations to fund prospective Loans and participations in then outstanding Letters of Credit and Swingline Loans, (d) has otherwise failed to pay over to the Administrative Agent or any other Lender any other
amount required to be paid by it hereunder within three Business Days of the date when due, unless the subject of a good faith 

  
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dispute, or (e) in the case of a Lender that has a Commitment, LC Exposure or Swingline Exposure outstanding at such time, shall take, or is the Subsidiary of any person that has taken, any
action or be (or is) the subject of any action or proceeding of a type described in Section 8.01(g) or (h) (or any comparable proceeding initiated by a regulatory authority having jurisdiction over such Lender or such
person). 
 “Delaware City Morgan Stanley Off-Take Agreement” shall mean the Products Off-Take Agreement
entered into by and between MSCG and Delaware City, which agreement shall be either (i) in substantially the same form as the Paulsboro Morgan Stanley Off-Take Agreement and subject to an intercreditor agreement in substantially the same form
at the MSCG Intercreditor Agreement or (ii) in form and substance reasonably satisfactory to the Administrative Agent and subject to an intercreditor agreement in form and substance reasonably satisfactory to the Administrative Agent; as such
agreement may be replaced, superseded, amended (including as to changes of counterparty), modified or supplemented from time to time, to the extent not prohibited by the terms and provisions of this Agreement, including, without limitation,
compliance with Section 5.17 of this Agreement. 
 “Delaware City Statoil Oil Supply Agreement”
shall mean the Crude Oil/Feedstock Supply/Delivery and Services Agreement entered into by and between Statoil and Delaware City, which agreement shall be either (i) in substantially the same form as the Paulsboro Statoil Oil Supply
Agreement and subject to an intercreditor agreement in substantially the same form at the Statoil Intercreditor Agreement or (ii) in form and substance reasonably satisfactory to the Administrative Agent and subject to an intercreditor
agreement in form and substance reasonably satisfactory to the Administrative Agent; as such agreement may be replaced, superseded, amended (including as to changes of counterparty), modified or supplemented from time to time to the extent not
prohibited by the terms and provisions of this Agreement, including, without limitation, Section 5.17 of this Agreement. 
 “Disqualified Capital Stock” shall mean any Equity Interest which, by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the
happening of any event, (a) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the
holder thereof, in whole or in part (other than in Equity Interests that are otherwise not Disqualified Capital Stock), on or prior to the ninety-first (91st) day after the Final Maturity Date, (b) is convertible into or exchangeable
(unless at the sole option of the issuer thereof) for (i) debt securities or (ii) any Equity Interests referred to in (a) above (other than in Equity Interests that are otherwise not Disqualified Capital Stock), in each case at any
time on or prior to the ninety-first (91st) day after Final Maturity Date, or (c) contains any repurchase obligation for cash purchase which may come into effect prior to payment in full of all Obligations; provided, however,
that any Equity Interests that would not constitute Disqualified Capital Stock but for provisions thereof giving holders thereof (or the holders of any security into or for which such Equity Interests is convertible, exchangeable or exercisable) the
right to require the issuer thereof to redeem such Equity Interests upon the occurrence of a change in control or an asset sale occurring prior to the ninety-first (91) day after the Final Maturity Date shall not constitute Disqualified Capital
Stock if such Equity Interests provide that the issuer thereof will not redeem any such Equity Interests pursuant to such provisions prior to the repayment in full of the Obligations (other than Unasserted Contingent Obligations). 

“Dividend” with respect to any person shall mean that such person has declared or paid a dividend or returned any equity
capital to the holders of its Equity Interests or authorized or made any other distribution, payment or delivery of property (other than Qualified Capital Stock of such person) or cash to the holders of its Equity Interests in each case, in their
capacity as such, or redeemed, retired, 

  
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purchased or otherwise acquired, for consideration any of its Equity Interests outstanding (or any options or warrants issued by such person with respect to its Equity Interests), or set aside
any funds in a sinking or other similar fund for any of the foregoing purposes, or shall have permitted any of its Subsidiaries (other than an Excluded Subsidiary) to purchase or otherwise acquire for consideration any of the Equity Interests of
such person outstanding (or any options or warrants issued by such person with respect to its Equity Interests). Without limiting the foregoing, “Dividends” with respect to any person shall also include all payments made or required to be
made by such person with respect to any stock appreciation rights, plans, equity incentive or achievement plans or any similar plans or setting aside in a sinking or other similar fund of any funds for the foregoing purposes. 

“dollars” or “$” shall mean lawful money of the United States. 

“Domestic Subsidiary” shall mean any Subsidiary that is organized or existing under the laws of the United States, any
state thereof or the District of Columbia. 
 “Eligible Accounts” shall have the meaning assigned to such term
in Section 2.21(a). 
 “Eligible Assignee” shall mean any person to whom it is permitted to assign
Loans and Commitments pursuant to Section 10.04(b)(i); provided that “Eligible Assignee” shall not include Sponsor, Parent, Borrowers or any of their respective Affiliates or Subsidiaries or any natural person.

 “Eligible Hydrocarbon Inventory” shall have the meaning assigned to such term in
Section 2.21(b). 
 “Eligible Subsidiary” shall mean any Wholly Owned Subsidiary of a Borrower that
is (i) a Domestic Subsidiary and (ii) owns Accounts and/or hydrocarbon Inventory, in each case, other than an Excluded Subsidiary. 
 “Embargoed Person” shall mean any party that (i) is publicly identified on the most current list of “Specially Designated Nationals and Blocked Persons” published by the
U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or resides, is organized or chartered, or has a place of business in a country or territory subject to OFAC sanctions or embargo programs or (ii) is
publicly identified as prohibited from doing business with the United States under the International Emergency Economic Powers Act, the Trading With the Enemy Act, or any other Requirement of Law. 

“Environment” shall mean ambient air, indoor air, surface water and groundwater (including potable water, navigable
water and wetlands), the land surface or subsurface strata, natural resources, the workplace or as otherwise defined in any Environmental Law. 
 “Environmental Claim” shall mean any claim, notice, demand, order, action, suit, proceeding or other communication alleging liability for or obligation with respect to any investigation,
remediation, removal, cleanup, response, corrective action, damages to natural resources, personal injury, property damage, fines, penalties or other costs resulting from, related to or arising out of (i) the presence, Release or threatened
Release in or into the Environment of Hazardous Material at any location or (ii) any violation or alleged violation of any Environmental Law, and shall include any claim seeking damages, contribution, indemnification, cost recovery,
compensation or injunctive relief resulting from, related to or arising out of the presence, Release or threatened Release of Hazardous Material or alleged injury or threat of injury to health, safety or the Environment. 

  
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 “Environmental Law” shall mean any and all present and future treaties,
laws, statutes, ordinances, regulations, rules, decrees, orders, judgments, consent orders, consent decrees, code or other binding requirements of Governmental Authorities, and the common law, relating to protection of public health or the
Environment, the Release or threatened Release of Hazardous Material, natural resources or natural resource damages, or occupational safety or health, and any and all Environmental Permits. 

“Environmental and Necessary Capex” shall mean capital expenditures to the extent deemed reasonably necessary, as
determined by the Companies, in good faith and pursuant to prudent judgment, that are required by Applicable Law (including to comply with Environmental Laws) or are undertaken for health and safety reasons. 

“Environmental Permit” shall mean any permit, license, approval, registration, notification, exemption, consent or other
authorization required by or from a Governmental Authority under Environmental Law. 
 “Equipment” shall have
the meaning assigned to such term in the Security Agreements. 
 “Equity Interest” shall mean, with respect to
any person, any and all shares, interests, participations or other equivalents, including membership interests (however designated, whether voting or nonvoting), of equity of such person, including, if such person is a partnership, partnership
interests (whether general or limited) and any other interest or participation that confers on a person the right to receive a share of the profits and losses of, or distributions of property of, such partnership, whether outstanding on the date
hereof or issued after the Closing Date, but excluding debt securities convertible or exchangeable into such equity. 

“Equity Investors” shall mean Sponsor, its Controlled Investment Affiliates (other than Holdings and its Subsidiaries)
and one or more other investors (which other investors are reasonably satisfactory to the Administrative Agent and the Joint Lead Arrangers). 
 “Equity Issuance” shall mean, without duplication, (i) any issuance or sale by Parent after the Closing Date of any Equity Interests in Parent (including any Equity Interests issued
upon exercise of any warrant or option) or any warrants or options to purchase Equity Interests or (ii) any contribution to the capital of Parent or Holdings; provided, however, that an Equity Issuance shall not include any
Excluded Issuance. 
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as the same may
be amended from time to time. 
 “ERISA Affiliate” shall mean, with respect to any person, any trade or
business (whether or not incorporated) that, together with such person, is treated as a single employer under Section 414 of the Code. 
 “ERISA Event” shall mean (a) any “reportable event,” as defined in Section 4043 of ERISA or the regulations issued thereunder, with respect to a Plan (other than an
event for which the 30-day notice period is waived by regulation); (b) with respect to a Plan, the failure to satisfy the minimum funding standard of Section 412 of the Code and Section 302 of ERISA, whether or not waived;
(c) the failure to make by its due date a required installment under Section 430(j) of the Code with respect to any Plan or the failure to make any required contribution to a Multiemployer Plan; (d) the filing pursuant to

  
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Section 412(c) of the Code or Section 303(d) of ERISA (or after the effective date of the Pension Protection Act of 2006, Section 412(c) of the Code and Section 302(c) of
ERISA) of an application for a waiver of the minimum funding standard with respect to any Plan; (e) the incurrence by any Company or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any
Plan; (f) the receipt by any Company or any of its ERISA Affiliates from the PBGC or a plan administrator of any notice relating to the intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan, or the occurrence of any
event or condition which could reasonably be expected to constitute grounds under ERISA for the termination of, or the appointment of a trustee to administer, any Plan; (g) the incurrence by any Company or any of its ERISA Affiliates of any
liability under Title IV of ERISA with respect to the withdrawal from any Plan or Multiemployer Plan; (h) the receipt by any Company or its ERISA Affiliates of any notice, concerning the imposition of Withdrawal Liability or a determination
that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA; (i) the “substantial cessation of operations” within the meaning of Section 4062(e) of ERISA with
respect to a Plan; (j) the making of any amendment to any Plan which could result in the imposition of a lien or the posting of a bond or other security; and (k) the occurrence of a non-exempt prohibited transaction (within the meaning of
Section 4975 of the Code or Section 406 of ERISA) which could reasonably be expected to result in liability to any Company. 
 “Eurodollar Borrowing” shall mean a Borrowing comprised of Eurodollar Loans. 
 “Eurodollar Loan” shall mean any Eurodollar Revolving Loan. 

“Eurodollar Revolving Borrowing” shall mean a Borrowing comprised of Eurodollar Revolving Loans. 

“Eurodollar Revolving Loan” shall mean any Revolving Loan bearing interest at a rate determined by reference to the
Adjusted LIBOR Rate in accordance with the provisions of Article II. 
 “Event of Default” shall have
the meaning assigned to such term in Section 8.01. 
 “Excess Amount” shall have the meaning
assigned to such term in Section 2.10(e). 
 “Excess Availability” shall means, at any time, an
amount equal to (A) the then effective Borrowing Availability, plus (B) Suppressed Availability. 
 “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended. 
 “Excluded Deposit Account” means
any Deposit Account (i) for which all or substantially all of the funds on deposit therein are used solely to fund payroll, 401(k) and other retirement plans and employee benefits or health care benefits, and any trust accounts or
(ii) holding at all times less than $500,000 individually or $2,000,000 in the aggregate, together with all such other Deposit Accounts excluded pursuant to this clause (ii). 

“Excluded Issuance” shall mean an issuance and sale of Qualified Capital Stock of Parent to the Equity Investors, to the
extent such Qualified Capital Stock is used, or the Net Cash Proceeds thereof shall be, within 90 days of the consummation of such issuance and sale, used, by Holdings or one of its Subsidiaries without duplication, to finance Capital Expenditures,
one or more Permitted Acquisitions or a Specified Equity Contribution. 

  
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 “Excluded Subsidiary” shall mean each Domestic Subsidiary formed or
acquired after the Closing Date that is designated as an Excluded Subsidiary pursuant to Section 5.18(b). For the avoidance of doubt, each Excluded Subsidiary shall not be a Subsidiary Guarantor, and to the extent that an Excluded
Subsidiary’s net income would otherwise be included in the definition of Consolidated Net Income or Consolidated EBITDA or any component thereof such Excluded Subsidiary’s net income shall not be included for purposes of calculating
Consolidated Net Income or Consolidated EBITDA unless actually distributed in cash to, and actually received by, a Loan Party. 

“Excluded Taxes” shall mean, with respect to the Administrative Agent, any Lender, the Issuing Bank or any other
recipient of any payment to be made by or on account of any obligation of Borrowers hereunder: (a) taxes imposed on or measured by its overall net income or profits and franchise taxes (including any branch profits taxes imposed by the United
States or any similar tax imposed by any other jurisdiction) imposed on it (in lieu of net income taxes), however denominated, by a jurisdiction (i) as a result of the recipient being organized or having its principal office or, in the case of
any Lender, its applicable lending office in such jurisdiction, or (ii) as a result of a trade or business, a permanent establishment, or a present or former connection between the Administrative Agent, any Lender, the Issuing Bank or other
recipient and the jurisdiction of the taxing authority imposing such tax (other than any connection resulting solely from being a Lender hereunder); (b) in the case of a Foreign Lender (other than an assignee pursuant to a request by
Administrative Borrower under Section 2.16), any U.S. federal withholding tax that is imposed on interest payments pursuant to any Requirements of Law that are in effect at the time such Foreign Lender becomes a party hereto, except to
the extent that such Foreign Lender’s assignor, if any, was entitled, immediately prior to such assignment, to receive additional amounts or indemnity payments from Borrowers with respect to such withholding tax pursuant to
Section 2.15; provided that this subclause (b) shall not apply to any tax imposed on a Lender in connection with an interest or participation in any Loan or other obligation that such Lender was required to acquire
pursuant to Section 2.14(d); (c) in the case of a Foreign Lender who designates a new lending office, any U.S. federal withholding tax that is imposed on interest payments pursuant to any Requirements of Law that are in effect at
the time of such change in lending office, except to the extent that such Foreign Lender was entitled, immediately prior to such change in lending office, to receive additional amounts or indemnity payments from Borrowers with respect to such
withholding tax pursuant to Section 2.15; (d) any U.S. federal withholding tax that is attributable to such Lender’s failure to comply with Section 2.15(e); and (e) any taxes imposed on any “withholdable
payment” payable to such recipient as a result of the failure of such recipient to satisfy the applicable requirements as set forth in FATCA after December 31, 2012. 
 “Existing Lien” shall have the meaning assigned to such term in Section 6.02(c). 
 “Existing Securities Collateral” shall mean “Securities Collateral” as defined in the Existing Security Agreement. 

“Existing Security Agreement” shall mean that certain ABL Security Agreement, dated as of December 17, 2010, among
Holdings, Delaware City and Paulsboro, as Borrowers, the other Loan Parties party thereto and the Administrative Agent for the benefit of the Secured Parties, as amended, restated, supplemented, reaffirmed or otherwise modified from time to time.

 “Existing Security Documents” shall mean the Existing Security Agreement, the Mortgages, the Parent Limited
Recourse Guaranty, the Parent Pledge Agreement, and each other security document or pledge agreement delivered prior to the A&R Effective Date in accordance with applicable local or foreign law to grant a valid, perfected security interest in
any property as collateral for the Secured 

  
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Obligations, and all UCC or other financing statements or instruments of perfection required by this Agreement, the Existing Security Agreement, any Mortgage, the Parent Limited Recourse
Guaranty, the Parent Pledge Agreement or any other such security document or pledge agreement to be filed with respect to the security interests in property and fixtures created pursuant to the Existing Security Agreement or any Mortgage and any
other document or instrument utilized prior to the A&R Effective Date to pledge or grant or purport to pledge or grant a security interest or lien on any property as collateral for the Secured Obligations. 

“FATCA” shall mean Sections 1471 through 1474 of the Code and any regulations or official interpretations thereof.

 “Federal Funds Effective Rate” shall mean, for any day, the weighted average of the rates on overnight
federal funds transactions with members of the Federal Reserve System of the United States 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 of the quotations for the day for such transactions received by the Administrative Agent from three federal funds brokers of recognized standing selected by it. 

“Fee Letters” shall mean: (i) the confidential fee letter, dated as of September 24, 2010, among Holdings and
the Joint Lead Arrangers; and (ii) the fee letter, dated as of May 31, 2011, by and among UBS AG, Stamford Branch, UBS Securities LLC and the Borrowers. 
 “Fees” shall mean the Commitment Fees, the Administrative Agent Fees, the LC Participation Fees, the Fronting Fees and any other fees which are provided for in the Fee Letters.

 “Final Maturity Date” shall mean the Revolving Maturity Date. 

“Financial Officer” of any person shall mean the chief financial officer, principal accounting officer, treasurer or
controller of such person. 
 “FIRREA” shall mean the Financial Institutions Reform, Recovery and Enforcement
Act of 1989, as amended. 
 “Foreign Lender” shall mean any Lender that is not, for United States federal
income tax purposes, (i) an individual who is a citizen or resident of the United States, (ii) a corporation, partnership or other entity treated as a corporation or partnership created or organized in or under the laws of the United
States, or any political subdivision thereof, (iii) an estate whose income is subject to U.S. federal income taxation regardless of its source or (iv) a trust if a court within the United States is able to exercise primary supervision over
the administration of such trust and one or more United States persons have the authority to control all substantial decisions of such trust. In addition, solely for purposes of clauses (b) and (c) of the definition of Excluded Taxes, a
Foreign Lender shall include a partnership or other entity treated as a partnership created or organized in or under the laws of the United States, or any political subdivision thereof , but only to the extent the partners of such partnership
(including indirect partners if the direct partners are partnerships or other entities treated as partnerships for U.S. federal income tax purposes created or organized in or under the laws of the United States or any political subdivision thereof )
are treated as Foreign Lenders under the preceding sentence (in which event, the determination of whether a U.S. federal withholding tax on interest payments was imposed pursuant to any Requirements of Law in effect at the time such Foreign Lender
became a party hereto will be made by reference to the time when the applicable direct or indirect partner became a direct or indirect partner of such Foreign Lender, but only if such date is later than the date on which such Foreign Lender became a
party hereto). 

  
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 “Foreign Plan” shall mean any employee benefit plan, program, policy,
arrangement or agreement maintained or contributed to by any Company with respect to employees employed outside the United States. 
 “Foreign Subsidiary” shall mean a Subsidiary that is organized under the laws of a jurisdiction other than the United States or any state thereof or the District of Columbia. 

“Fronting Fee” shall have the meaning assigned to such term in Section 2.05(c). 

“Fund” shall mean any 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 business. 
 “GAAP” subject to
Section 1.04, shall mean generally accepted accounting principles in the United States applied on a consistent basis. 
 “Governmental Authority” shall mean the government of the United States or any other nation, or of any political subdivision thereof, whether state, provincial 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, the European Central Bank or the Organisation for Economic Co-operation and Development). 

“Governmental Real Property Disclosure Requirements” shall mean any Requirement of Law of any Governmental Authority
requiring notification of the buyer, lessee, mortgagee, assignee or other transferee of any Real Property, facility, establishment or business, or notification, registration or filing to or with any Governmental Authority, in connection with the
sale, lease, mortgage, assignment or other transfer (including any transfer of control) of any Real Property, facility, establishment or business, of the actual or threatened presence or Release in or into the Environment, or the use, disposal or
handling of Hazardous Material on, at, under or near the Real Property, facility, establishment or business to be sold, leased, mortgaged, assigned or transferred. 
 “Guaranteed Obligations” shall have the meaning assigned to such term in Section 7.01. 
 “Guarantees” shall mean the guarantees issued pursuant to Article VII by the Loan Parties. 
 “Hazardous Materials” shall mean the following: hazardous substances; hazardous wastes; polychlorinated biphenyls (“PCBs”) or any substance or compound containing PCBs;
asbestos or any asbestos-containing materials in any form or condition; radon or any other radioactive materials including any source, special nuclear or by-product material; and any other pollutant or contaminant or chemicals, wastes, materials,
compounds, constituents or substances, subject to regulation or which can give rise to liability under any Environmental Laws. 

  
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 “Hedging Agreement” shall mean any swap, cap, collar, forward purchase or
similar agreements or arrangements dealing with interest rates or currency exchange rates, either generally or under specific contingencies and any Commodity Hedging Agreement. 

“Hedging Obligations” shall mean obligations under or with respect to Hedging Agreements. 

“Hedging Reserves” shall mean the determination by the Co-Collateral Agents, in consultation with any Lender or any of
its Affiliates that enters into a Hedging Agreement in respect of interest rates or commodity prices with any of the Loan Parties, reasonably and in good faith from the perspective of an asset-based lender, of an appropriate reserve against the
Borrowing Base with respect to the exposures of the Loan Parties in respect of such Hedging Agreement relating to interest rates or commodity prices; provided, that, the maximum amount of “Hedging Reserves” shall in no event exceed
$20.0 million. 
 “High Yield Indebtedness” shall mean (i) senior secured notes, which are subordinated in
right of priority only with respect to the Revolving Priority Collateral, and are subject to an intercreditor agreement substantially in the form of the Revolver-Term Intercreditor Agreement or another inter-creditor agreement in form and substance
reasonably satisfactory to the Administrative Agent, or (ii) senior unsecured notes, in either case issued by Holdings or Parent, the proceeds of which shall be sufficient to, and shall upon receipt thereof be applied in order to, repay in full
all obligations under the Term Loan Documents and the Seller Note Documents; provided, that, (A) such Indebtedness has a later or equal final maturity and longer or equal weighted average life than the Term Loan and (B) such
Indebtedness has covenants and other provisions that are no more restrictive, taken as a whole, than those set forth in the Term Loan Credit Agreement. 
 “Holdings” shall have the meaning assigned to such term in the preamble hereto. 
 “Increase Effective Date” shall have the meaning assigned to such term in Section 2.20(a). 
 “Increase Joinder” shall have the meaning assigned to such term in Section 2.20(c). 
 “Incremental Revolving Loan” shall have the meaning assigned to such term in Section 2.20(c). 
 “Indebtedness” of any person shall mean, without duplication, (a) all obligations of such person for borrowed money; (b) all obligations of such person evidenced by bonds,
debentures, notes or similar instruments; (c) [Reserved]; (d) all obligations of such person under conditional sale or other title retention agreements relating to property purchased by such person; (e) all obligations of such person
issued or assumed as the deferred purchase price of property or services (excluding trade accounts payable and accrued obligations incurred in the ordinary course of business and not overdue by more than 120 days); (f) all Indebtedness of
others secured by any Lien on property owned or acquired by such person, whether or not the obligations secured thereby have been assumed, but limited to the fair market value of such property; (g) all Capital Lease Obligations, Purchase Money
Obligations (other than those constituting Indebtedness pursuant to clause (e) above) and synthetic lease obligations of such person; (h) all Hedging Obligations to the extent required to be reflected on a balance sheet of such
person; (i) all Attributable Indebtedness of such person; (j) all obligations of such person for the reimbursement of any obligor 

  
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in respect of letters of credit, letters of guaranty, bankers’ acceptances and similar credit transactions; and (k) all Contingent Obligations of such person in respect of Indebtedness
or obligations of others of the kinds referred to in clauses (a) through (j) above. 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 (other than in the case of general partner liability) to the extent that terms of such Indebtedness
expressly provide that such person is not liable therefor. 
 “Indemnified Taxes” shall mean all Taxes other
than Excluded Taxes. 
 “Indemnitee” shall have the meaning assigned to such term in
Section 10.03(b). 
 “Information” shall have the meaning assigned to such term in
Section 10.12. 
 “Insurance Policies” shall mean the insurance policies and coverages required to
be maintained by each Loan Party that is an owner of Mortgaged Property with respect to the applicable Mortgaged Property pursuant to Section 5.04 and all renewals and extensions thereof. 

“Insurance Requirements” shall mean, collectively, all provisions of the Insurance Policies, all requirements of the
issuer of any of the Insurance Policies and all orders, rules, regulations and any other requirements of the National Board of Fire Underwriters (or any other body exercising similar functions) binding upon each Loan Party that is an owner of
Mortgaged Property and applicable to the Mortgaged Property or any use or condition thereof. 
 “Intellectual
Property” shall have the meaning assigned to such term in Section 3.06(a). 
 “Intercompany
Note” shall mean a promissory note substantially in the form of Exhibit P. 
 “Intercreditor
Agreements” shall mean the Revolver-Term Loan Intercreditor Agreement, the Valero Seller Note Intercreditor Agreement, the Sunoco Seller Note Intercreditor Agreement, the Toledo-MSCG Intercreditor Agreement, the DEDA Intercreditor
Agreement, the Statoil Intercreditor Agreement and the MSCG Intercreditor Agreement. 
 “Interest Election
Request” shall mean a request by Administrative Borrower to convert or continue a Revolving Borrowing in accordance with Section 2.08(b), substantially in the form of Exhibit E. 

“Interest Payment Date” shall mean (a) with respect to any ABR Loan (including Swingline Loans), the last Business
Day of each March, June, September and December to occur during any period in which such Loan is outstanding, (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part
and, in the case of a Eurodollar Loan with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such
Interest Period, (c) with respect to any Revolving Loan, Incremental Revolving Loan or Swingline Loan, the Revolving Maturity Date or such earlier date on which the Revolving Commitments are terminated. 

  
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 “Interest Period” shall mean, 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, two, three or six months (or nine or twelve months if agreed to by all affected Lenders) thereafter, as Administrative
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 that commences on the last Business Day of a calendar month (or on a day for which there is no numerically
corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such
Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing; provided, however, that an Interest Period shall be limited to the extent required under
Section 2.03(d). 
 “Intermediate Products” shall mean hydrocarbons intermediate products and
blendstocks. For the avoidance of doubt, Intermediate Products shall not include Certain Hydrocarbon Assets. 

“Inventory” shall mean all “inventory,” as such term is defined in the UCC as in effect on the date hereof in
the State of New York, wherever located, in which any Person now or hereafter has rights. 
 “Inventory
Appraisal” shall mean an inventory appraisal conducted by an independent appraisal firm selected by Administrative Agent (i) in consultation with the Administrative Borrower (except during the existence and during the continuance
thereof of an Event of Default) or (ii) in its sole discretion (during the existence and during the continuance thereof of an Event of Default). 
 “Investments” shall mean, as to any person, any direct or indirect acquisition or investment by such person, whether by means of (i) the purchase or other acquisition of Equity
Interests or debt or other securities of another person, (ii) a loan, advance or capital contribution to, guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other debt or equity participation or interest in,
another person, including any partnership or joint venture interest in such other person, (iii) the purchase or ownership of a futures contract, or becoming liable for the sale or purchase of currency or commodities at a future date in the
nature of a futures contract, or (iv) the purchase or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another person or assets constituting a business
unit, line of business or division of such person. Except as otherwise expressly provided in this Agreement, the amount of an Investment will be its fair market value as determined at the time the Investment is made and without giving effect to
subsequent changes in value. Notwithstanding anything to the contrary herein, in the case of any Investment made by any Company in a Person substantially concurrently with a cash distribution by such Person to the any Company (a “Concurrent
Cash Distribution”), then the amount of such Investment shall be deemed to be the fair market value of the Investment, less the amount of the Concurrent Cash Distribution. 

“IPO” shall mean the first underwritten public offering by Holdings of its Equity Interests after the Closing Date
pursuant to a registration statement filed with the Securities and Exchange Commission in accordance with the Securities Act which raises Net Cash Proceeds of at least $50.0 million. 

  
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 “Issuing Bank” shall mean, as the context may require, (a) UBS AG,
Stamford Branch, in its capacity as issuer of Letters of Credit issued by it; (b) any other Lender or Affiliate of a Lender that may become an Issuing Bank pursuant to Sections 2.18(i) and (j) in its capacity as issuer of
Letters of Credit issued by such Lender; or (c) collectively, all of the foregoing. 
 “Joinder Agreement”
shall mean a joinder agreement substantially in the form of Exhibit F. 
 “Joint Lead Arrangers” shall
have the meaning assigned to such term in the preamble hereto. 
 “Landlord Access Agreement” shall mean a
Landlord Access Agreement, substantially in the form of Exhibit G, or such other form as may reasonably be acceptable to the Administrative Agent. 
 “Last-Out Portion” shall mean, from time to time, the excess of Hedging Obligations incurred pursuant to Hedging Agreements entered into with Lenders or any of their Affiliates over the
Hedging Reserves. 
 “LC Commitment” shall mean the commitment of the Issuing Bank to issue Letters of Credit
pursuant to Section 2.18. The amount of the LC Commitment shall initially be $500,000,000, but in no event shall exceed the Revolving Commitment. 
 “LC Disbursement” shall mean a payment or disbursement made by the Issuing Bank pursuant to a drawing under a Letter of Credit. 

“LC Exposure” shall mean at any time the sum (without duplication) of (a) the aggregate undrawn amount of all
outstanding Letters of Credit at such time plus (b) the aggregate principal amount of all Reimbursement Obligations outstanding at such time. The LC Exposure of any Revolving Lender at any time shall mean its Pro Rata Percentage of the
aggregate LC Exposure at such time. 
 “LC Participation Fee” shall have the meaning assigned to such term in
Section 2.05(c). 
 “LC Request” shall mean a request by Administrative Borrower in accordance with
the terms of Section 2.18(b) and substantially in the form of Exhibit H, or such other form as shall be approved by the Administrative Agent. 
 “Leases” shall mean any and all leases, subleases, tenancies, options, concession agreements, rental agreements, occupancy agreements, franchise agreements, access agreements and any
other similar agreements (including all amendments, extensions, replacements, renewals, modifications and/or guarantees thereof), whether or not of record and whether now in existence or hereafter entered into, affecting the use or occupancy of all
or any portion of any Real Property. 
 “Lender Addendum” shall mean with respect to any Lender on the Closing
Date, a lender addendum in the form of Exhibit I, to be executed and delivered by such Lender on the Closing Date as provided in Section 10.15. 
 “Lenders” shall mean (a) the financial institutions that have become a party hereto pursuant to a Lender Addendum and (b) any financial institution that has become a party
hereto pursuant to an Assignment and Assumption, other than, in each case, any such financial institution that has ceased to be a party hereto pursuant to an Assignment and Assumption. Unless the context clearly indicates otherwise, the term
“Lenders” shall include the Swingline Lender. 

  
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 “Letter of Credit” shall mean any (i) Standby Letter of Credit and
(ii) Commercial Letter of Credit, in each case, issued or to be issued by an Issuing Bank for the account of a Borrower pursuant to Section 2.18. 
 “Letter of Credit Expiration Date” shall mean the date which is five (5) Business Days prior to the Revolving Maturity Date. 

“LIBOR Rate” shall mean, with respect to any Eurodollar Borrowing for any Interest Period, the rate per annum reasonably
determined by the Administrative Agent to be the arithmetic mean of the offered rates for deposits in dollars with a term comparable to such Interest Period that appears on the Telerate British Bankers Assoc. Interest Settlement Rates Page (as
defined below) at approximately 11:00 a.m., London, England time, on the second full London Business Day preceding the first day of such Interest Period; provided, however, that (i) if no comparable term for an Interest Period is
available, the LIBOR Rate shall be determined using the weighted average of the offered rates for the two terms most nearly corresponding to such Interest Period and (ii) if there shall at any time no longer exist a Telerate British Bankers
Assoc. Interest Settlement Rates Page, “LIBOR Rate” shall mean, with respect to each day during each Interest Period pertaining to Eurodollar Borrowings comprising part of the same Borrowing, the rate per annum equal to the rate at which
the Administrative Agent is offered deposits in dollars at approximately 11:00 a.m., London, England time, two London Business Days prior to the first day of such Interest Period in the London interbank market for delivery on the first day of such
Interest Period for the number of days comprised therein and in an amount comparable to its portion of the amount of such Eurodollar Borrowing to be outstanding during such Interest Period. Notwithstanding the foregoing, for purposes of clause
(c) of the definition of Alternate Base Rate, the rates referred to above shall be the rates as of 11:00 a.m., London, England time, on the date of determination (rather than the second London Business Day preceding the date of determination).
“Telerate British Bankers Assoc. Interest Settlement Rates Page” shall mean the display designated as Reuters Screen LIBOR01 Page (or such other page as may replace such page on such service for the purpose of displaying the rates
at which dollar deposits are offered by leading banks in the London interbank deposit market). 
 “Lien” shall
mean, with respect to any property, (a) any mortgage, deed of trust, lien, pledge, encumbrance, charge, collateral assignment, hypothecation, security interest or encumbrance of any kind or any arrangement effective to provide priority or
preference or any filing of any financing statement under the UCC or any other similar notice of lien under any similar notice or recording statute of any Governmental Authority, including any easement, right-of-way or other encumbrance on title to
Real Property, in each of the foregoing cases whether voluntary or imposed by law; (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having
substantially the same economic effect as any of the foregoing) relating to such property; and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Loan Documents” shall mean this Agreement, the Letters of Credit, the Intercreditor Agreements, the Notes (if any), and
the Security Documents and the Fee Letters. 
 “Loan Parties” shall mean the Borrowers and the Subsidiary
Guarantors. 

  
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 “Loans” shall mean, as the context may require, a Revolving Loan or a
Swingline Loan (and shall include any Loans contemplated by Section 2.20). 
 “London Business Day”
shall mean any day on which banks are generally open for dealings in dollar deposits in the London interbank market. 

“Margin Stock” shall have the meaning assigned to such term in Regulation U. 

“Market Disruption Loans” shall mean Loans the rate of interest applicable to which is based upon the Market Disruption
Rate, and the Applicable Margin with respect thereto shall be the same as the Applicable Margin then applicable to Eurodollar Loans; provided that, other than with respect to the rate of interest and Applicable Margin applicable thereto,
Market Disruption Loans shall for all purposes hereunder and under the other Loan Documents be treated as ABR Loans. 

“Market Disruption Rate” shall mean, for any day, a fluctuating rate per annum (rounded upwards, if necessary, to the
nearest 1/100th of 1%) equal to as determined by, in the reasonable discretion of the Administrative Agent in good faith pursuant to its reasonable judgment in consultation with Administrative Borrower, either (i) the Alternate Base Rate for
such day or (ii) the rate for such day reasonably determined by the Administrative Agent to be the cost of funds of representative participating members in the interbank eurodollar market selected by the Administrative Agent (which may include
Lenders) for maintaining loans similar to the relevant Market Disruption Loans. Any change in the Market Disruption Rate shall be effective as of the opening of business on the effective day of any change in the relevant component of the Market
Disruption Rate. 
 “Material Adverse Effect” shall mean (a) a material adverse effect on the business,
property, results of operations or financial condition of Borrowers and their Subsidiaries, taken as a whole; (b) a material adverse effect on the ability of the Loan Parties to fully perform their respective payment obligations under any Loan
Document; or (c) a material adverse effect on the rights of or benefits or remedies available to the Lenders, the Co-Collateral Agents or the Administrative Agent under any Loan Document; provided, however, that in no event shall
any effect that results from any of the following be deemed to constitute a Material Adverse Effect: (i) this Agreement, the Loan Documents or any actions taken in compliance with this Agreement or the Loan Documents, or the pendency or
announcement thereof; (ii) the announcement, pendency and consummation of the Acquisitions and the Acquisition Documents; (iii) changes or conditions generally affecting the industry in which the Borrowers and their Subsidiaries operate;
(iv) changes in general economic, regulatory or political conditions (including interest rate, commodities and currency fluctuations); (v) changes in law or Environmental Laws; (vi) changes in accounting principles; or (vii) acts
of war, insurrection, sabotage or terrorism, unless, in the case of each of the clauses (iv)-(vii) above, such change has a disproportionate effect on the Borrowers and their Subsidiaries or their assets as compared to the effect on
other participants in the industry or their assets, as the case may be. 
 “Material Indebtedness” shall mean
(a) Indebtedness under the Term Loan Documents, (b) Indebtedness under the Seller Note Documents, (c) Indebtedness under the DEDA Loan and Security Agreement and (d) any other Indebtedness (other than the Loans and Letters of
Credit) or Hedging Obligations of Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) in an aggregate outstanding principal amount exceeding $20.0 million. For purposes of determining Material Indebtedness, the “principal
amount” in respect of any Hedging Obligations of any Loan Party at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that such Loan Party would be required to pay if the related Hedging Agreement were
terminated at such time. 

  
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 “Maximum Rate” shall have the meaning assigned to such term in
Section 10.14. 
 “MNPI” shall have the meaning assigned to such term in
Section 10.01(d). 
 “Morgan Stanley Off-Take Agreements” shall mean collectively (i) the
Delaware City Morgan Stanley Off-Take Agreement and (ii) the Paulsboro Morgan Stanley Off-Take Agreement. 

“Morgan Stanley-Toledo Oil Supply Agreement” shall mean that certain oil supply and financing agreement, dated as of
May 31, 2011, pursuant to which MSCG finances the purchase by Toledo of crude oil for the Toledo refinery. 

“Mortgage” shall mean an agreement, including, but not limited to, a mortgage, deed of trust or any other similar
document, creating and evidencing a Lien on a Mortgaged Property, which shall be substantially in the form of Exhibit J or, subject to the terms of the Intercreditor Agreements, to the extent applicable, other form reasonably satisfactory to
the Administrative Agent, in each case, with such schedules and including such provisions as shall be necessary to conform such document to applicable local or foreign law or as shall be customary under applicable law. 

“Mortgaged Property” shall mean (a) each Real Property identified as a Mortgaged Property on Schedule 8(a)
to the Perfection Certificate and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Closing Date pursuant to Section 5.10(c). 

“MSCG” shall mean Morgan Stanley Capital Group Inc. or any successor or assign thereof (including as a result of a
changed counterparty) to the extent not prohibited by Section 5.17. 
 “MSCG Intercreditor Agreement”
shall mean that certain Amended and Restated Intercreditor Agreement, dated as of April 16, 2011, by and among Morgan Stanley Capital Group Inc., UBS AG, Stamford Branch, as Revolving Agent, UBS AG, Stamford Branch, as Term Loan Agent,
Holdings, Delaware City, Paulsboro and the other Loan Parties party thereto. 
 “Multiemployer Plan” shall mean
a multiemployer plan within the meaning of Section 4001(a)(3) (a) to which any Company or any ERISA Affiliate is then making or accruing an obligation to make contributions; (b) to which any Company or any ERISA Affiliate has within
the preceding five plan years made contributions; or (c) with respect to which any Company could incur liability. 

“Net Cash Proceeds” shall mean: 
 (a) with respect to any Asset Sale (other than any issuance or sale of Equity Interests) or Casualty Event, the cash proceeds actually received by Holdings or any of its Subsidiaries (other than an
Excluded Subsidiary) (including cash proceeds subsequently received (as and when received by Holdings or any of its Subsidiaries (other than an Excluded Subsidiary)) in respect of non-cash consideration initially received) net of (i) selling
expenses (including reasonable brokers’ fees or commissions, legal, accounting and other professional, advisory, consulting, investment banking and transactional fees, transfer and similar taxes and Borrowers’ good faith estimate of income
taxes actually paid or payable in connection with such sale); (ii) amounts provided as a reserve, in accordance with GAAP, against (x) any liabilities under any indemnification obligations associated with such Asset Sale or (y) any
other liabilities retained by Holdings or any of its Subsidiaries associated with the properties sold in such Asset Sale (provided that, to the extent and at the time any such amounts are released from such reserve, such amounts shall

  
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then constitute Net Cash Proceeds); (iii) Borrowers’ good faith estimate of payments required to be made with respect to unassumed liabilities relating to the properties sold within 180
days of such Asset Sale (provided that, to the extent such cash proceeds are not used to make payments in respect of such unassumed liabilities within 180 days of such Asset Sale, such cash proceeds shall then constitute Net Cash Proceeds);
(iv) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness or indebtedness which is secured by a Lien on the properties sold in such Asset Sale (so long as such Lien was permitted to encumber such
properties under the Loan Documents at the time of such sale) and which is repaid with such proceeds (other than any such Indebtedness or indebtedness assumed by the purchaser of such properties); (v) any survey costs, title insurance premiums,
and related search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees in respect of any such Asset Sale; and (vi) taxes paid or reasonably
estimated to be actually payable in connection therewith; and 
 (b) with respect to any Equity Issuance or any
other issuance or sale of Equity Interests by Parent, Holdings or any of Holdings’ Subsidiaries, the cash proceeds thereof, net of customary fees, commissions, costs and other expenses incurred in connection therewith. 

“Non-Guarantor Subsidiary” shall mean each Subsidiary that is not a Subsidiary Guarantor (including any Excluded
Subsidiary). 
 “Notes” shall mean any notes evidencing the Revolving Loans or Swingline Loans issued pursuant
to this Agreement, if any, substantially in the form of Exhibit K-1, or K-2. 
 “Obligations”
shall mean (a) obligations of Borrowers and the other Loan Parties from time to time arising under or in respect of the due and punctual payment of (i) the principal of and premium, if any, and interest (including interest accruing during
the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for
prepayment or otherwise, (ii) each payment required to be made by Borrowers and the other Loan Parties under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of Reimbursement Obligations,
interest thereon and obligations to provide cash collateral and (iii) all other monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary
obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), of Borrowers and the other Loan Parties under this Agreement and the
other Loan Documents, and (b) the due and punctual performance of all covenants, agreements, obligations and liabilities of Borrowers and the other Loan Parties under or pursuant to this Agreement and the other Loan Documents. 

“OFAC” shall have the meaning set forth in the definition of “Embargoed Person.” 

“Officers’ Certificate” shall mean a certificate executed by the chairman of the Board of Directors (if an
officer), the chief executive officer or the president and one of the Financial Officers and, with respect to certificates other than as to financial, borrowing base and/or other collateral matters, any other officer of a Loan Party, in each case in
his or her official (and not individual) capacity. 

  
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 “Oil Supply Agreements” shall mean collectively (i) the Statoil Oil
Supply Agreements and (ii) the Morgan Stanley-Toledo Oil Supply Agreement. 
 “Organizational Documents”
shall mean, with respect to any person, (i) in the case of any corporation, the certificate of incorporation and by-laws (or similar documents) of such person, (ii) in the case of any limited liability company, the certificate of formation
and operating agreement (or similar documents) of such person, (iii) in the case of any limited partnership, the certificate of formation and limited partnership agreement (or similar documents) of such person, (iv) in the case of any
general partnership, the partnership agreement (or similar document) of such person and (v) in any other case, the functional equivalent of the foregoing. 
 “Other Taxes” shall mean all present or future stamp or documentary taxes or any other excise, property or similar taxes, charges or levies arising from any payment made hereunder or
under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document (and any interest, additions to tax or penalties applicable thereto). 

“Overadvance” shall have the meaning assigned to such term in Section 2.02(f). 

“Parent” shall mean PBF Energy Company LLC, a Delaware limited liability company. 

“Parent Limited Recourse Guaranty” shall mean that certain Parent Limited Recourse Guaranty Agreement (ABL) issued by
Parent, dated as of the Closing Date, as amended, restated, supplemented, reaffirmed or otherwise modified from time to time. 

“Parent Pledge Agreement” shall mean that certain Parent Pledge Agreement (ABL) by and among Parent, Administrative
Agent and Co-Collateral Agents, dated as of the Closing Date, as amended, restated, supplemented, reaffirmed or otherwise modified from time to time. 
 “Participant” shall have the meaning assigned to such term in Section 10.04(d). 
 “Participant Register” shall have the meaning assigned to such term in Section 10.04(d). 
 “Paulsboro Acquisition” shall mean the acquisition of Paulsboro from Valero Refining and Marketing Company pursuant to the terms of the Paulsboro Acquisition Agreement. 

“Paulsboro Acquisition Agreement” shall mean that certain Stock Purchase Agreement, dated as of September 24, 2010
(as amended, supplemented or otherwise modified from time to time in accordance with the provisions thereof), with Valero Refining and Marketing Company (“Seller”), a Delaware corporation, with respect to the acquisition of
Paulsboro. 
 “Paulsboro Acquisition Documents” shall mean the collective reference to the Paulsboro
Acquisition Agreement and each other document entered into in connection with the Paulsboro Acquisition. 
 “Paulsboro
Facility” shall mean Paulsboro’s petroleum refinery, terminalling facility and all related assets and properties located in Paulsboro, New Jersey. 

  
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 “Paulsboro Morgan Stanley Off-Take Agreement” shall mean that certain
Products Off-Take Agreement, dated as of December 14, 2010, between MSCG and Paulsboro, as assignee of Holdings, as such agreement may be replaced, superseded, amended (including as to changes of counterparty), modified or supplemented from
time to time, to the extent not prohibited by the terms and provisions of this Agreement, including, without limitation, compliance with Section 5.17 of this Agreement. 

“Paulsboro Statoil Oil Supply Agreement” shall mean that certain Crude Oil/Feedstock Supply/Delivery and Services
Agreement, dated as of December 16, 2010, between Statoil and Paulsboro, as assignee of Holdings, as replaced, superseded, amended (including as to changes of counterparty), modified or supplemented from time to time to the extent not
prohibited by the terms and provisions of this Agreement, including, without limitation, Section 5.17 of this Agreement. 
 “PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA. 
 “Perfection Certificate” shall mean (i) that certain Perfection Certificate delivered by the Borrowers (other than Toledo) to the Administrative Agent in connection with the closing
of the Existing Revolving Credit Agreement and (ii) that certain Perfection Certificate delivered by Toledo to the Administrative Agent on the date hereof, in each case, as the same shall be supplemented from time to time by a Perfection
Certificate Supplement or otherwise. 
 “Perfection Certificate Supplement” shall mean a certificate supplement
substantially in the form of Exhibit L-2 or any other form approved by the Administrative Agent. 
 “Permitted
Acquisition” shall mean any transaction for the (a) acquisition of all or substantially all of the property of any person, or of any business or division, or business line or unit of any person; or (b) acquisition (including by
merger or consolidation) of the Equity Interests of any person that becomes a Subsidiary after giving effect such transaction; provided that each of the following conditions shall be met: 

(i) no Default or Event of Default then exists or would result therefrom; 

(ii) after giving effect to such transaction Pro Forma Excess Availability is greater than the Threshold Amount;

 (iii) [Reserved]; 
 (iv) the person or business to be acquired shall be, or shall be engaged in, a business of the type that Borrowers and the Subsidiaries are permitted to be engaged in under Section 6.12 and
the property acquired in connection with any such transaction shall be made subject to the Lien of the Security Documents (in each case, except to the extent the equivalent assets of a Loan Party (such Loan Party as of the date hereof) are not
required to be subject to the Lien of the Security Documents) and shall be free and clear of any Liens, other than Permitted Liens (in each case, to the extent, and within the time period set forth in Article V of this Agreement);

 (v) the Board of Directors of the person to be acquired shall not have indicated publicly its opposition to
the consummation of such acquisition (which opposition has not been publicly withdrawn); 

  
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 (vi) all transactions in connection therewith shall be consummated in
accordance with all applicable Requirements of Law; 
 (vii) with respect to any transaction involving
Acquisition Consideration of more than $15,000,000, unless the Administrative Agent shall otherwise agree, Borrowers shall have provided the Administrative Agent and the Lenders with in each case, if and to the extent available, historical financial
statements for the last three fiscal years (or, if less, the number of years since formation) of the person or business to be acquired (audited if available without undue cost or delay) and unaudited financial statements thereof for the most recent
interim period which are available; 
 (viii) at least 5 Business Days prior to the proposed date of consummation
of the transaction, Administrative Borrower shall have delivered to the Agents and the Lenders an Officers’ Certificate certifying that such transaction complies with this definition (which shall have attached thereto reasonably detailed backup
data and calculations showing such compliance); and 
 (ix) the business to be acquired and its Subsidiaries,
shall, subject to an election by Administrative Borrower under Section 5.18(b), become Subsidiary Guarantors in accordance with Section 5.10. 
 “Permitted Amendment” shall mean an amendment to this Agreement in form and substance reasonably satisfactory to the Administrative Agent, setting forth the terms and conditions of
Permitted Amendment Loans and/or Commitments made in accordance with and pursuant to Section 10.19 of this Agreement. 
 “Permitted Holders” shall mean (a) Sponsor, (b) its Controlled Investment Affiliates and (c) and such person’s Related Parties. 

“Permitted Liens” shall have the meaning assigned to such term in Section 6.02. 

“Permitted Tax Distributions” shall mean payments, dividends or distributions by Borrowers, Subsidiary Guarantors and
their respective Subsidiaries in order to pay federal, state or local income and franchise taxes attributable to the income of Holdings or any of its Subsidiaries in an amount not to exceed the income and franchise tax liabilities that would have
been payable by Holdings and its Subsidiaries on a stand-alone basis, reduced by any such income taxes paid or to be paid directly by Holdings or its Subsidiaries. 
 “person” shall mean any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity.

 “Plan” shall mean any employee pension benefit plan (other than a Multiemployer Plan) subject to the
provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA which is maintained or contributed to by any Company or its ERISA Affiliate or with respect to which any Company could incur liability (including under
Section 4069 of ERISA). 
 “Preferred Stock” shall mean, with respect to any person, any and all preferred
or preference Equity Interests (however designated) of such person whether now outstanding or issued after the Closing Date. 

  
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 “Preferred Stock Issuance” shall mean the issuance or sale by Holdings or
any of its Subsidiaries of any Preferred Stock after the Closing Date (other than (x) as permitted by Section 6.01 or (y) any Excluded Issuance). 
 “Premises” shall have the meaning assigned thereto in the applicable Mortgage. 
 “Private Side Communications” shall have the meaning assigned to such term in Section 10.01(d). 
 “Private Siders” shall have the meaning assigned to such term in Section 10.01(d). 
 “Pro Forma Basis” shall mean on a basis in accordance with GAAP and Regulation S-X and otherwise reasonably satisfactory to the Administrative Agent. 

“Pro Forma Excess Availability” shall mean, for any date of determination, the average Excess Availability for 90 days
prior to, and including, such date, after giving effect to the transactions occurring on such date, based on assumptions and calculations reasonably acceptable to the Administrative Agent and Co-Collateral Agents; it being agreed that, for purposes
of calculating Pro Forma Excess Availability, unless the Co-Collateral Agents shall otherwise agree in their reasonable discretion, no Accounts or hydrocarbon Inventory to be acquired in an Investment otherwise permitted under Section 6.04
shall be included in the Borrowing Base until the Administrative Agent shall have completed a preliminary field audit and Inventory Appraisal in scope and with results reasonably satisfactory to Administrative Agent and Co-Collateral Agents.

 “Pro Rata Percentage” of any Revolving Lender at any time shall mean the percentage of the total Revolving
Commitments of all Revolving Lenders represented by such Lender’s Revolving Commitment; provided that for purposes of Section 2.19(b) and (c), “Pro Rata Percentage” shall mean the percentage of the total
Revolving Commitments (disregarding the Revolving Commitment of any Defaulting Lender to the extent its Swingline Exposure or LC Exposure is reallocated to the non-Defaulting Lenders) represented by such Lender’s Revolving Commitment. If the
Revolving Commitments have terminated or expired, the Pro Rata Percentage shall be determined based upon the Revolving Commitments most recently in effect, after giving effect to any assignments. 

“property” shall mean any right, title or interest in or to property or assets of any kind whatsoever, whether real,
personal or mixed and whether tangible or intangible and including Equity Interests or other ownership interests of any person and whether now in existence or owned or hereafter entered into or acquired, including all Real Property. 

“Public Siders” shall have the meaning assigned to such term in Section 10.01(d). 

“Purchase Money Obligation” shall mean, for any person, the obligations of such person in respect of Indebtedness
(including Capital Lease Obligations) incurred for the purpose of financing all or any part of the purchase price of any property (including Equity Interests of any person) or the cost of installation, construction, development or improvement of any
property and any refinancing thereof; provided, however, that (i) such Indebtedness is incurred within one year after such acquisition, installation, construction or improvement of such property by such person and (ii) the
amount of such Indebtedness does not exceed 100% of the cost of such acquisition, installation, construction or improvement, as the case may be. 

  
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 “Qualified Capital Stock” of any person shall mean any Equity Interests of
such person that are not Disqualified Capital Stock. 
 “Real Property” shall mean, collectively, all right,
title and interest (including any leasehold, mineral or other estate) in and to any and all parcels of or interests in real property owned, leased or operated by any person, whether by lease, license or other means, together with, in each case, all
easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof.

 “Register” shall have the meaning assigned to such term in Section 10.04(c). 

“Regulation D” shall mean Regulation D of the Board as from time to time in effect and all official rulings and
interpretations thereunder or thereof. 
 “Regulation S-X” shall mean Regulation S-X promulgated under the
Securities Act. 
 “Regulation T” shall mean Regulation T of the Board as from time to time in effect and all
official rulings and interpretations thereunder or thereof. 
 “Regulation U” shall mean Regulation U of the
Board as from time to time in effect and all official rulings and interpretations thereunder or thereof. 
 “Regulation
X” shall mean Regulation X of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof. 
 “Reimbursement Obligations” shall mean Borrowers’ obligations under Section 2.18(e) to reimburse LC Disbursements. 

“Related Parties” shall mean, with respect to any person, such person’s Affiliates and the partners, directors,
officers, employees, agents and advisors of such person and of such person’s Affiliates. 
 “Release”
shall mean any spilling, leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, disposing, depositing, dispersing, emanating or migrating of any Hazardous Material in, into, onto or through the
Environment. 
 “Required Lenders” shall mean Lenders having more than 50% of the sum of all Loans outstanding,
LC Exposure and unused Commitments; provided that the Loans, LC Exposure and unused Commitments held or deemed held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 

“Requirements of Law” shall mean, collectively, any and all applicable requirements of any Governmental Authority
including any and all laws, judgments, orders, executive orders, decrees, ordinances, rules, regulations, statutes or case law. 

“Reserves” shall be determined by the Co-Collateral Agents from time to time, acting reasonably and in good faith,
pursuant to standards and practices generally applied by the Co-Collateral Agents (from the standpoint of an asset-based lender) to borrowing base debtors in the refining markets, 

  
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and shall not limit Borrowing Availability on account of conditions or circumstances already addressed in the eligibility criteria for the assets in the Borrowing Base and/or otherwise result in
a duplicative adverse impact on Borrowing Availability under the Borrowing Base and shall not include Hedging Reserves. Once the Reserves have been so determined by the Co-Collateral Agents, the Reserves will not be changed in a manner adverse to
the Borrowers except to address circumstances, conditions, events or contingencies underlying the determination of the Reserves that adversely impact the value of the Borrowing Base, and then only in a manner and to an extent that bears a reasonable
relationship to changes in circumstances, conditions, events or contingencies; provided that circumstances, conditions, events or contingencies arising prior to the A&R Effective Date of which the Co-Collateral Agents have actual
knowledge prior to the A&R Effective Date shall not be the basis for any establishment or modification of any Reserve unless such circumstances, conditions, events or contingencies shall have changed since the A&R Effective Date. 

“Response” shall mean (a) “response” as such term is defined in CERCLA, 42 U.S.C. § 9601(24), and
(b) all other actions required by any Governmental Authority or voluntarily undertaken to (i) clean up, remove, treat, abate or in any other way address any Hazardous Material in the Environment; (ii) prevent the Release or threat of
Release, or minimize the further Release, of any Hazardous Material; or (iii) perform studies and investigations in connection with, or as a precondition to, or to determine the necessity of the activities described in, clause
(i) or (ii) above. 
 “Responsible Officer” of any person shall mean any executive officer
or Financial Officer of such person and any other officer or similar official thereof with responsibility for the administration of the obligations of such person in respect of this Agreement. 

“Revolver-Term Loan Intercreditor Agreement” shall mean that certain Revolver-Term Loan Intercreditor Agreement, dated
as of December 17, 2010, by and among UBS AG, Stamford Branch, as Revolving Agent, UBS AG, Stamford Branch, as Term Loan Agent, Holdings, Delaware City, Paulsboro and the other Borrowers party thereto, as amended by the Revolver-Term Loan
Intercreditor Agreement Amendment. 
 “Revolver-Term Loan Intercreditor Agreement Amendment” shall mean an
amendment to the Revolver-Term Loan Intercreditor Agreement, dated as of the date hereof, in form and substance reasonably satisfactory to the Administrative Agent. 
 “Revolving Availability Period” shall mean the period from and including the Closing Date to but excluding the earlier of (A) the Business Day preceding the Revolving Maturity Date
and (B) the date of termination of the Revolving Commitments. 
 “Revolving Borrowing” shall mean a
Borrowing comprised of Revolving Loans. 
 “Revolving Commitment” shall mean, with respect to each Lender, the
commitment, if any, of such Lender to make Revolving Loans hereunder up to the amount set forth on Schedule I to the Lender Addendum executed and delivered by such Lender or by an Increase Joinder, or in the Assignment and Assumption pursuant to
which such Lender assumed its Revolving Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.07 and (b) reduced or increased from time to time pursuant to assignments by or to such
Lender pursuant to Section 10.04. The aggregate amount of the Lenders’ Revolving Commitments on the A&R Effective Date is $500.0 million. 

  
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 “Revolving Credit Priority Collateral” shall have the meaning assigned to
such term in the Revolver-Term Loan Intercreditor Agreement. 
 “Revolving Exposure” shall mean, with respect
to any Lender at any time (without duplication), the aggregate principal amount at such time of all then outstanding Revolving Loans of such Lender, plus the aggregate amount at such time of such Lender’s LC Exposure, plus the
aggregate amount at such time of such Lender’s Swingline Exposure. 
 “Revolving Lender” shall mean a
Lender with a Revolving Commitment. 
 “Revolving Loan” shall mean a Loan made by the Lenders to Borrowers
pursuant to Section 2.01(b). Each Revolving Loan shall either be an ABR Revolving Loan or a Eurodollar Revolving Loan. 
 “Revolving Maturity Date” shall mean the date which is the earlier of: (i) five (5) years after the A&R Effective Date; or (ii) three months prior to the stated final
maturity date of the Term Loan under the Term Loan Credit Agreement as the same may be from time to time amended or refinanced (except, for the avoidance of doubt, if repaid with the proceeds of unsecured notes) (to the extent that it has not
previously been otherwise repaid, and, if so otherwise repaid, the Revolving Maturity Date shall be as set forth in clause (i) of this definition). 
 “Sale and Leaseback Transaction” has the meaning assigned to such term in Section 6.03. 
 “Sarbanes-Oxley Act” shall mean the United States Sarbanes-Oxley Act of 2002, as amended, and all rules and regulations promulgated thereunder. 

“Saudi Oil” shall mean the crude oil purchased by the Loan Parties from Aramco and/or its affiliates pursuant to the
Saudi Oil Supply Agreement. 
 “Saudi Oil Assets” shall have the meaning assigned to such term in
Section 6.01(v). 
 “Saudi Oil Supply Agreement” shall mean that certain Crude Oil Supply Agreement
by and among Holdings and Aramco. 
 “Secured Obligations” shall mean (a) the Obligations, (b) the
due and punctual payment and performance of all obligations of Borrowers and the other Loan Parties under each Hedging Agreement entered into with any counterparty that is a Secured Party and (c) the due and punctual payment and performance of
all obligations of Borrowers and the other Loan Parties (including overdrafts and related liabilities) under each Treasury Services Agreement entered into with any counterparty that is a Secured Party. 

“Secured Parties” shall mean, collectively, the Administrative Agent, the Co-Collateral Agents, each other Agent, the
Lenders and each counterparty to a Hedging Agreement or Treasury Services Agreement if at the time of entering into such Hedging Agreement or Treasury Services Agreement such person was an Agent or a Lender or an Affiliate of an Agent or a Lender
and such person executes and delivers to the Administrative Agent a letter agreement in form and substance acceptable to the Administrative Agent pursuant to which such person (i) appoints each Co-Collateral Agent as its agent under the
applicable Loan Documents and (ii) agrees to be bound by the provisions of Sections 9.03, 10.03 and 10.09 as if it were a Lender. 

  
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 “Securities Act” shall mean the Securities Act of 1933. 

“Securities Collateral” shall mean the Existing Securities Collateral and the Toledo Securities Collateral. 

“Security Agreements” shall mean the Existing Security Agreement and the Toledo Security Agreement. 

“Security Agreement Collateral” shall mean all property pledged, granted or reaffirmed as collateral pursuant to the
Security Agreements (a) on the Closing Date or (b) thereafter pursuant to Section 5.10. 

“Security Documents” shall mean the Existing Security Documents, the Toledo Security Documents, and each other security
document or pledge agreement delivered in accordance with applicable local or foreign law to grant a valid, perfected security interest in any property as collateral for the Secured Obligations, and all UCC or other financing statements or
instruments of perfection required by this Agreement, the Existing Security Documents, the Toledo Security Documents, any Mortgage or any other such security document or pledge agreement to be filed with respect to the security interests in property
and fixtures created pursuant to any Security Agreement or any Mortgage and any other document or instrument utilized to pledge or grant or purport to pledge or grant a security interest or lien on any property as collateral for the Secured
Obligations. 
 “Seller Note Documents” means the Valero Seller Note Documents and the Sunoco Seller Note
Documents. 
 “Seller Note Security Documents” means the Valero Seller Note Security Documents and the Sunoco
Seller Note Security Documents. 
 “Seller Note Lenders” means the Valero Seller Note Lender and the Sunoco
Seller Note Lender. 
 “Sponsor” shall mean First Reserve Corporation, the Blackstone Group, and each of their
respective Affiliates. 
 “Standby Letter of Credit” shall mean any standby letter of credit. 

“Statoil” shall mean Statoil Marketing & Trading (US) Inc. or any successor or assign thereof (including as a
result of a changed counterparty) to the extent not prohibited by Section 5.17 hereof. 
 “Statoil
Intercreditor Agreement” shall mean that certain Amended and Restated Inter-creditor Agreement, dated as of March 1, 2011, by and among Statoil Marketing & Trading (US) Inc., UBS AG, Stamford Branch, as Revolving Agent, UBS
AG, Stamford Branch, as Term Loan Agent, Holdings, Delaware City, Paulsboro and the other Loan Parties party thereto. 

  
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 “Statoil Oil Supply Agreements” shall mean collectively (i) the
Paulsboro Statoil Oil Supply Agreement and (ii) the Delaware City Statoil Oil Supply Agreement. 
 “Statutory
Reserves” shall mean for any Interest Period for any Eurodollar Borrowing in dollars, the average maximum rate at which reserves (including any marginal, supplemental or emergency reserves) are required to be maintained during such Interest
Period under Regulation D by member banks of the United States Federal Reserve System in New York City with deposits exceeding one billion dollars against “Eurocurrency liabilities” (as such term is used in Regulation D). Eurodollar
Borrowings shall be deemed to constitute Eurodollar liabilities and to be subject to such reserve requirements without benefit of or credit for proration, exceptions or offsets which may be available from time to time to any Lender under Regulation
D. 
 “Subordinated Debt Payment” shall have the meaning assigned to such term in Section 6.10(a).

 “Subordinated Indebtedness” shall mean Indebtedness of any Loan Party that is by its terms subordinated in
right of payment to the Obligations of Borrowers and the Subsidiary Guarantors, as applicable, on terms reasonably acceptable to the Administrative Agent. 
 “Subsidiary” shall mean, with respect to any person (the “parent”) at any date, (i) any person the accounts of which would be consolidated with those of the parent
in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, (ii) any other corporation, limited liability company, association or other business entity of which
securities or other ownership interests representing more than 50% of the voting power of all Equity Interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Board of Directors thereof are, as of such
date, owned, controlled or held by the parent and/or one or more subsidiaries of the parent, (iii) any partnership (a) the sole general partner or the managing general partner of which is the parent and/or one or more subsidiaries of the
parent or (b) the only general partners of which are the parent and/or one or more subsidiaries of the parent and (iv) any other person that is otherwise Controlled by the parent and/or one or more subsidiaries of the parent. Unless the
context requires otherwise, “Subsidiary” refers to a Subsidiary of a Borrower. 
 “Subsidiary
Guarantor” shall mean each Subsidiary listed on Schedule 1.01(b), and each other Subsidiary that is or becomes a party to this Agreement pursuant to Section 5.10 and that has not been designated by the Administrative
Borrower, in accordance with Section 5.18(b), as an Excluded Subsidiary and in any event, excluding any Foreign Subsidiary. 
 “Sunoco Seller Note” means that certain Promissory Note, dated as of March 1, 2011, in the aggregate principal amount of $200 million issued by Toledo in favor of Sunoco, Inc.
(R&M). 
 “Sunoco Seller Note Collateral” shall have the meaning assigned to the term “Specified
Collateral” in the Sunoco Seller Note Intercreditor Agreement. 
 “Sunoco Seller Note Documents” means the
Sunoco Seller Note, any security agreements, mortgages and other security documents and guaranties related thereto and the Sunoco Seller Notes issued thereunder. 

  
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 “Sunoco Seller Note Intercreditor Agreement” shall mean that certain
Intercreditor Agreement, dated as of the date hereof, among the Sunoco Seller Note Lender, UBS AG, Stamford Branch, as ABL Agent, and UBS AG, Stamford Branch, as Term Loan Agent. 

“Sunoco Seller Note Lender” means Sunoco, Inc. (R&M), as the lender under the Sunoco Seller Note. 

“Sunoco Seller Note Security Documents” shall mean (i) the Amended and Restated Security Agreement, dated as of
May 31, 2011, between Toledo and the Sunoco Seller Note Lender and (ii) the Mortgage, dated as of March 1, 2011, by Toledo for the benefit of the Sunoco Seller Note Lender. 

“Sunoco Working Capital Note” shall mean that certain Products and Intermediates Inventory Promissory Note, dated as of
March 1, 2011, in an aggregate principal amount equal to $285,199,249, issued by Toledo in favor of Sunoco, Inc. (R&M). 
 “Supermajority Lenders” shall mean Lenders having more than 66 2/3 % of the sum of all Loans outstanding, LC Exposure and unused Commitments; provided that the Loans, LC
Exposure and unused Commitments held or deemed held by any Defaulting Lender shall be excluded for purposes of making a determination of Supermajority Lenders. 
 “Suppressed Availability” shall mean as of any date of determination the amount, if any, by which the Borrowing Base on such date exceeds the aggregate Commitments of all Lenders then
outstanding. 
 “Survey” shall mean a survey of any Mortgaged Property (and all improvements thereon) which is
(a) (i) prepared by a surveyor or engineer licensed to perform surveys in the jurisdiction where such Mortgaged Property is located, (ii) dated (or redated) not earlier than six months prior to the date of delivery thereof unless
there shall have occurred within six months prior to such date of delivery any exterior construction on the site of such Mortgaged Property or any easement, right of way or other interest in the Mortgaged Property has been granted or become
effective through operation of law or otherwise with respect to such Mortgaged Property which, in either case, can be depicted on a survey, in which events, as applicable, such survey shall be dated (or redated) after the completion of such
construction or if such construction shall not have been completed as of such date of delivery, not earlier than 20 days prior to such date of delivery, or after the grant or effectiveness of any such easement, right of way or other interest in the
Mortgaged Property, (iii) certified by the surveyor (in a manner reasonably acceptable to the Administrative Agent) to the Administrative Agent, the Co-Collateral Agents and the Title Company, (iv) complying in all respects with the
minimum detail requirements of the American Land Title Association as such requirements are in effect on the date of preparation of such survey and (v) sufficient for the Title Company to remove all standard survey exceptions from the title
insurance policy (or commitment) relating to such Mortgaged Property and issue the endorsements of the type required by Section 4.01(o)(iii) or (b) otherwise acceptable to the Co-Collateral Agents. 

“Swingline Commitment” shall mean the commitment of the Swingline Lender to make loans pursuant to
Section 2.17, as the same may be reduced from time to time pursuant to Section 2.07 or Section 2.17. The amount of the Swingline Commitment shall initially be $25,000,000, but shall in no event exceed the
Revolving Commitment. 

  
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 “Swingline Exposure” shall mean at any time the aggregate principal amount
at such time of all outstanding Swingline Loans. The Swingline Exposure of any Revolving Lender at any time shall equal its Pro Rata Percentage of the aggregate Swingline Exposure at such time. 

“Swingline Lender” shall have the meaning assigned to such term in the preamble hereto. 

“Swingline Loan” shall mean any loan made by the Swingline Lender pursuant to Section 2.17. 

“Syndication Agent” shall have the meaning assigned to such term in the preamble hereto. 

“Tax Return” shall mean all returns, statements, filings, attachments and other documents or certifications required to
be filed in respect of Taxes. 
 “Taxes” shall mean all present or future taxes, levies, imposts, duties,
deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 
 “Term Loan” means the senior secured term loan under the Term Loan Credit Agreement. 
 “Term Loan Administrative Agent” means UBS AG, Stamford Branch, in its capacity as administrative agent under the Term Loan Credit Agreement, and its successors and assigns. 

“Term Loan Credit Agreement” means (i) that certain Term Loan Credit Agreement, dated as of December 17, 2010,
among Holdings, Delaware City and Paulsboro, as Borrowers, the other loan parties party thereto, the lenders party thereto, Deutsche Bank Securities Inc., Morgan Stanley Senior Funding, Inc. and UBS Securities LLC, as joint lead arrangers and joint
book runners, UBS Securities LLC, as syndication agent and documentation agent, and the Term Loan Administrative Agent, as amended, restated, supplemented or modified from time to time to the extent permitted by this Agreement and the Revolver-Term
Loan Intercreditor Agreement, and (ii) any other credit agreement, loan agreement, promissory note or other similar agreement or instrument evidencing or governing the terms of any indebtedness or other financial accommodation that has been
incurred to extend, increase or refinance (subject to the limitations set forth herein and in the Revolver-Term Loan Intercreditor Agreement) in whole or in part the indebtedness and other obligations outstanding under (x) the credit agreement
referred to in clause (i) or (y) any subsequent Term Loan Credit Agreement, unless such agreement or instrument expressly provides that it is not intended to be and is not a Term Loan Credit Agreement hereunder; provided,
however, that any unsecured notes the proceeds of which are used to repay the Term Loan Credit Agreement shall not be considered the “Term Loan Credit Agreement”. Any reference to the Term Loan Credit Agreement hereunder shall be
deemed a reference to any Term Loan Credit Agreement then in existence. 
 “Term Loan Documents” means the Term
Loan Credit Agreement and the other “Loan Documents” as defined in the Term Loan Credit Agreement, including each mortgage and other security documents, guaranties and the notes issued thereunder. 

  
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 “Term Loan Secured Parties” shall have the meaning assigned to the term
“Secured Parties” in the Term Loan Credit Agreement. 
 “Term Loan Security Documents” shall have the
meaning assigned to the term “Security Documents” in the Term Loan Credit Agreement. 
 A “Test
Period” at any time shall mean the period of four consecutive fiscal quarters of Borrowers ended on or prior to such time (taken as one accounting period). 
 “Threshold Amount” shall mean (as of any date of determination) an amount equal to 12.5% of the lesser of the then existing Borrowing Base and the then current aggregate Revolving
Commitments of the Lenders at such time. 
 “Threshold Basket Amount” shall mean (as of any date of
determination) an amount equal to 17.5% of the lesser of the then existing Borrowing Base and the then current aggregate Revolving Commitments of the Lenders at such time. 
 “Title Company” shall mean any title insurance company as shall be retained by Borrowers and reasonably acceptable to the Administrative Agent. 

“Title Policy” shall have the meaning assigned to such term in Section 4.01(o)(iii). 

“Toledo Acquisition” shall mean the acquisition of Toledo from Sunoco, Inc. (R&M) pursuant to the terms of the
Toledo Acquisition Agreement. 
 “Toledo Acquisition Agreement” shall mean that certain Asset Sale and Purchase
Agreement, dated as of December 2, 2010, by and between Toledo, as the Buyer and Sunoco, Inc. (R&M), as the Seller. 

“Toledo Acquisition Documents” shall mean the collective reference to the Toledo Acquisition Agreement and each other
document entered into in connection with the Toledo Acquisition. 
 “Toledo Facility” shall mean Toledo’s
petroleum refinery, terminalling facility and all related assets and properties located in Toledo, Ohio. 
 “Toledo-MSCG
Intercreditor Agreement” shall mean that certain Intercreditor Agreement, dated as of the date hereof, by and among MSCG and UBS AG, Stamford Branch, as Revolving Agent and acknowledged by Toledo. 

“Toledo Securities Collateral” shall mean “Securities Collateral” as defined in the Toledo Pledge Agreement.

 “Toledo Security Agreement” shall mean a Security Agreement substantially in the form of Exhibit M
among Toledo and the Administrative Agent for the benefit of the Secured Parties, as amended, restated, supplemented, reaffirmed or otherwise modified from time to time. 

  
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 “Toledo Pledge Agreement” shall mean a pledge agreement between Holdings,
as pledgor, and the Administrative Agent, whereby Holdings shall pledge all Stock of Toledo as Collateral for the benefit of the Secured Parties, as such pledge agreement may be amended, restated, supplemented, reaffirmed or otherwise modified from
time to time. 
 “Toledo Security Documents” shall mean the Toledo Security Agreement, the Toledo Pledge
Agreement and each other security document or pledge agreement delivered in accordance with applicable local or foreign law to grant a valid, perfected security interest in any property of Toledo as collateral for the Secured Obligations, and all
UCC or other financing statements or instruments of perfection required by this Agreement, the Toledo Security Agreement or any other such security document or pledge agreement to be filed with respect to the security interests in property and
fixtures created pursuant to the Toledo Security Agreement and any other document or instrument utilized to pledge or grant or purport to pledge or grant a security interest or lien on any property of Toledo as collateral for the Secured
Obligations. 
 “Transaction Documents” shall mean the Acquisition Documents, the Term Loan Documents, the
Seller Note Documents and the Loan Documents. 
 “Transactions” shall mean, collectively, the transactions to
occur on or prior to the A&R Effective Date pursuant to the Transaction Documents, including (a) the execution, delivery and performance of the Loan Documents and the borrowings hereunder; and (b) the payment of any and all fees, costs
and expenses to be paid on or prior to the A&R Effective Date and owing in connection with the foregoing. 

“Transferred Guarantor” shall have the meaning assigned to such term in Section 7.09. 

“Treasury Services Agreement” shall mean any agreement relating to treasury, depositary and cash management services or
automated clearinghouse transfer of funds. 
 “Trigger Event” shall mean either (i) an Event of Default
has occurred and is continuing or (ii) Excess Availability is less than (A) the Threshold Amount for a period of time greater than five (5) consecutive Business Days or (B) $35 million at any time; provided that such
Trigger Event shall continue until (i) such Event of Default has been cured or waived or (ii) Excess Availability shall have exceeded the Threshold Amount and $35 million for a period of at least thirty (30) consecutive days.

 “Type,” when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such
Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBOR Rate or the Alternate Base Rate. 
 “UCC” shall mean the Uniform Commercial Code as in effect from time to time (except as otherwise specified) in any applicable state or jurisdiction. 

“Unasserted Contingent Obligations” means taxes, costs, indemnifications, reimbursements, damages and other claims
liabilities in respect of which no written assertion of liability or no claim or demand for payment has been made at such time. 

“Unfinanced Capital Expenditures” shall mean, with respect to any Person and for any period, Capital Expenditures made
by such Person during such period and not financed from the proceeds of Indebtedness, Equity Issuances, Casualty Events or Asset Sales or other dispositions of assets. 
 “United States” shall mean the United States of America. 

  
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 “USA PATRIOT Act” shall have the meaning set forth in the definition of
“Anti-Terrorism Laws.” 
 “Valero Seller Note Agreement” means that certain Senior Secured
Note Agreement, dated as December 17, 2010, by and among Valero Seller Note Lender and Paulsboro, as amended, restated, supplemented or modified from time to time to the extent permitted by this Agreement and the Valero Seller Note
Intercreditor Agreement. Any reference to the Valero Seller Note Agreement hereunder shall be deemed a reference to any Valero Seller Note Agreement then in existence. 
 “Valero Seller Note Collateral” shall have the meaning assigned to the term “Specified Collateral” in the Valero Seller Note Intercreditor Agreement. 

“Valero Seller Note Documents” means the Valero Seller Note Agreement, any security agreements, mortgages and other
security documents and guaranties related thereto and the Valero Seller Notes issued thereunder. 
 “Valero Seller Note
Intercreditor Agreement” shall mean that certain Intercreditor Agreement, dated as of December 17, 2010, among the Valero Seller Note Lender, UBS AG, Stamford Branch, as ABL Agent, and UBS AG, Stamford Branch, as Term Loan Agent.

 “Valero Seller Note Lender” means Valero Refining and Marketing Company, including any permitted successors
and assigns thereof, all subject to the terms and provisions of the Valero Seller Note Intercreditor Agreement. 

“Valero Seller Note Security Documents” shall mean (i) the Security Agreement dated as of December 17, 2010 by
and between Valero Refining and Marketing Company and Paulsboro and (ii) the Pledge Agreement dated as of December 17, 2010 by and between Holdings and Valero Refining and Marketing Company. 

“Valero Seller Notes” means the notes issued under the Valero Seller Note Agreement. 

“Voting Stock” shall mean, with respect to any person, any class or classes of Equity Interests pursuant to which the
holders thereof have the general voting power under ordinary circumstances to elect at least a majority of the Board of Directors of such person. 
 “Wholly Owned Subsidiary” shall mean, as to any person, (a) any corporation 100% of whose capital stock (other than directors’ qualifying shares) is at the time owned by such
person and/or one or more Wholly Owned Subsidiaries of such person and (b) any partnership, association, joint venture, limited liability company or other entity in which such person and/or one or more Wholly Owned Subsidiaries of such person
have a 100% equity interest at such time. 
 “Withdrawal Liability” shall mean liability to a Multiemployer
Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

  
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 SECTION 1.02 Classification of Loans and Borrowings. 

For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type
(e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type
(e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar Revolving Borrowing”). 
 SECTION 1.03 Terms Generally. 
 The definitions of terms herein
shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and
“including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise
(a) any definition of or reference to any Loan Document, 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 or in effect (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any person shall be construed to include such person’s successors and assigns, (c) the
words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (e) any reference to any law or regulation herein shall refer to such law or regulation as
amended, modified or supplemented from time to time, (f) 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 and (g) “on,” when used with respect to the Mortgaged Property or any property adjacent to the Mortgaged Property, means “on, in, under, above or about.” 

SECTION 1.04 Accounting Terms; GAAP. 
 Except as otherwise expressly provided herein, all financial statements to be delivered pursuant to this Agreement shall be prepared in accordance with GAAP as in effect from time to time and all terms of
an accounting or financial nature shall be construed and interpreted in accordance with GAAP, as in effect on the date hereof unless otherwise agreed to by Borrowers and the Required Lenders. Lenders and Administrative Agent acknowledge and agree
that Borrowers may, at their sole option and in their sole discretion, switch from a GAAP method of accounting to a method of accounting based on the Internal Financial Reporting Standards (“IFRS”) as promulgated from time to time
by the International Accounting Standards Board (the “IASB”). From and after the date the Borrowers adopt IFRS, references herein and in any other Loan Document shall mean and refer to IFRS. If at any time any such change from GAAP
to IFRS would affect the computation of any financial covenant or other covenant set forth in any Loan Document, and the Administrative Borrower shall so request, the Administrative Agent and the Administrative Borrower shall negotiate in good faith
to amend any such financial covenant or other such covenant or requirement to preserve the original intent thereof in light of such change in accounting principles; provided, that, until so amended, such ratio or requirement shall
continue to be computed in accordance with GAAP prior to such change. Notwithstanding any other provision of this Agreement to the contrary, for all purposes during the term of this Agreement and any other Loan Document, each lease that pursuant to
GAAP as in effect on the Closing Date would be classified as a capital lease or an operating lease will continue to be so classified, notwithstanding any change in characterization of that lease subsequent to the Closing Date based on changes to
GAAP or interpretation of GAAP. 

  
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 SECTION 1.05 Resolution of Drafting Ambiguities. 

Each party hereto acknowledges and agrees that it was represented by counsel in connection with the execution and delivery of the Loan
Documents to which it is a party, that it and its counsel reviewed and participated in the preparation and negotiation hereof and thereof and that any rule of construction to the effect that ambiguities are to be resolved against any party shall not
be employed in the interpretation hereof or thereof. 
 ARTICLE II 

THE CREDITS 
 SECTION 2.01 Commitments. 
 Subject to the terms and conditions and
relying upon the representations and warranties herein set forth, each Lender agrees, severally and not jointly to make Revolving Loans to Borrowers, at any time and from time to time on or after the commencement of the Revolving Availability Period
until the earlier of the Revolving Maturity Date and the termination of the Revolving Commitment of such Lender in accordance with the terms hereof, in an aggregate principal amount at any time outstanding that will not result in such Lender’s
Revolving Exposure exceeding such Lender’s Revolving Commitment and provided that after making a Revolving Loan, the sum of the total Revolving Exposures shall not exceed the lesser of (A) the total Revolving Commitments and (B) the
Borrowing Base then in effect 
 Within the limits set forth above and subject to the terms, conditions and limitations set
forth herein, Borrowers may borrow, pay or prepay and reborrow Revolving Loans from time to time. 
 SECTION 2.02
Loans. 
 (a) Each Loan (other than Swingline Loans) shall be made as part of a Borrowing consisting of Loans made by
the Lenders ratably in accordance with their applicable Commitments; provided that the failure of any Lender to make its Loan shall not relieve any other Lender of its obligation to lend hereunder (it being understood, however, that no Lender
shall be responsible for the failure of any other Lender to make any Loan required to be made by such other Lender). Except for Loans deemed made pursuant to Section 2.18(e)(i) and (ii), (x) ABR Loans comprising any Borrowing shall
be in an aggregate principal amount that is (i) an integral multiple of $1.0 million and not less than $5.0 million or (ii) equal to the remaining available balance of the applicable Commitments and (y) the Eurodollar Loans comprising
any Borrowing shall be in an aggregate principal amount that is (i) an integral multiple of $1.0 million and not less than $5.0 million or (ii) equal to the remaining available balance of the applicable Commitments. 

(b) Subject to Sections 2.11 and 2.12, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as
Administrative Borrower may request pursuant to Section 2.03. Each Lender may at its option 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 Borrowers to repay such Loan in accordance with the terms of this Agreement. Borrowings of 

  
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more than one Type may be outstanding at the same time; provided that Administrative Borrower shall not be entitled to request any Borrowing that, if made, would result in more than eight
Eurodollar Borrowings outstanding hereunder at any one time. For purposes of the foregoing, Borrowings having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings. 

(c) Except with respect to Loans deemed made pursuant to Section 2.18(e)(ii), each Lender shall make each Loan to be made by
it hereunder on the proposed date thereof by wire transfer of immediately available funds to such account in New York City as the Administrative Agent may designate not later than 12:00 (noon), New York City time, and the Administrative Agent shall
promptly credit the amounts so received to an account as directed by Administrative Borrower in the applicable Borrowing Request maintained with the Administrative Agent or, if a Borrowing shall not occur on such date because any condition precedent
herein specified shall not have been met, return the amounts so received to the respective Lenders. 
 (d) Unless the
Administrative Agent shall have received notice from a Lender prior to the date (in the case of any Eurodollar Borrowing), and at least 2 hours prior to the time (in the case of any ABR Borrowing), of any Borrowing that such Lender will not make
available to the Administrative Agent such Lender’s portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent at the time of such Borrowing in accordance with
paragraph (c) above, and the Administrative Agent may, in reliance upon such assumption, make available to Borrowers on such date a corresponding amount. If the Administrative Agent shall have so made funds available, then, to the extent that
such Lender shall not have made such portion available to the Administrative Agent, each such Lender and the Borrowers severally agrees to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest
thereon, for each day from the date such amount is made available to Borrowers until the date such amount is repaid to the Administrative Agent at (i) in the case of Borrowers, the interest rate applicable at the time to the Loans comprising
such Borrowing and (ii) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. If such Lender shall
repay to the Administrative Agent such corresponding amount, such amount shall constitute such Lender’s Loan as part of such Borrowing for purposes of this Agreement, and Borrowers’ obligation to repay the Administrative Agent such
corresponding amount pursuant to this Section 2.02(d) shall cease and be discharged thereby. 
 (e) Notwithstanding
any other provision of this Agreement, Borrowers shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Revolving Maturity Date. 

(f) The Administrative Agent shall not, without the prior consent of Required Lenders, make (and shall prohibit the Issuing Bank and
Swingline Lender, as applicable, from making) any Revolving Loans or provide any Letters of Credit to the Borrowers intentionally and with actual knowledge that such Revolving Loans, Swingline Loans, or Letters of Credit would be made when one or
more of the conditions precedent to the making of the Loans hereunder cannot be satisfied except, that, the Administrative Agent may make (or cause to be made) such additional Revolving Loans or Swingline Loans or provide such additional Letters of
Credit on behalf of the Lenders (each an “ Overadvance” and collectively, the “ Overadvances”), intentionally and with actual knowledge that such Loans or Letters of Credit will be made without the satisfaction of
the foregoing conditions precedent, if the Administrative Agent deems it necessary or advisable in its discretion to do so, provided, that: (A) the total principal 

  
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amount of the Overadvances to the Borrowers which the Administrative Agent may make or provide (or cause to be made or provided) after obtaining such actual knowledge that the conditions
precedent have not been satisfied, shall not exceed, $25,000,000 at any time and shall not cause the aggregate Revolving Exposures to exceed the Revolving Commitments of all of the Lenders or the Revolving Exposure of a Lender to exceed such
Lender’s Revolving Commitment, (B) without the consent of the Required Lenders, no Overadvance shall be outstanding for more than sixty (60) days and (C) Administrative Agent shall be entitled to recover such funds, on demand
from the Borrowers together with interest thereon for each day from the date such payment was due until the date such amount is paid to Administrative Agent at the interest rate provided for in Section 2.06(c); provided further
that upon written notice by the Required Lenders, no further Overadvances shall be made. Each Lender shall be obligated to pay Administrative Agent the amount of its Pro Rata Percentage of any such Overadvance. 

SECTION 2.03 Borrowing Procedure. 
 To request Loans, Administrative Borrower shall deliver, by hand delivery, telecopier or email attachment, a duly completed and executed Borrowing Request to the Administrative Agent (i) in the case
of Eurodollar Loans in dollars, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing or (ii) in the case of ABR Loans, not later than 9:00 a.m., New York City time, on the date of the
proposed borrowing. Each Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02: 
 (a) the aggregate amount of such borrowing; 
 (b) the date of such
borrowing, which shall be a Business Day; 
 (c) whether such borrowing is to be for ABR Loans or Eurodollar
Loans; 
 (d) in the case of Eurodollar Loans, the initial Interest Period to be applicable thereto, which shall
be a period contemplated by the definition of the term “Interest Period”; 
 (e) the location and
number of Borrowers’ account to which funds are to be disbursed, which shall comply with the requirements of Section 2.02(c); and 
 (f) that the conditions set forth in Sections 4.03(b)-(e) have been satisfied as of the date of the notice. 
 If no election as to the Type of Loans is specified, then the requested borrowing shall be for ABR Loans. If no Interest Period is specified with respect to any requested Eurodollar Loan, then Borrowers
shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, 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. 
 Each Borrower hereby irrevocably appoints and constitutes
Holdings, in its capacity as Administrative Borrower, as its agent to request and receive Loans and Letters of Credit pursuant to this Agreement in the name or on behalf of such Borrower. The Administrative Agent and Lenders may disburse the Loans
to such bank account of Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower and provide such Letters of Credit to a Borrower as Administrative Borrower may designate or direct, without notice to any other Borrower or
Loan Party. Administrative Borrower hereby accepts the appointment by Borrowers to act as the agent of Borrowers and agrees to ensure that the disbursement of 

  
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any Loans to a Borrower requested by or paid to or for the account of such Borrower, or the issuance of any Letter of Credit for a Borrower hereunder, shall be paid to or for the account of such
Borrower. Each Borrower hereby irrevocably appoints and constitutes Administrative Borrower as its agent to receive statements on account and all other notices from the Agents and Lenders with respect to the Obligations or otherwise under or in
connection with this Agreement and the other Loan Documents. Any notice, election, representation, warranty, agreement or undertaking by or on behalf of any other Borrower by Administrative Borrower shall be deemed for all purposes to have been made
by such Borrower, as the case may be, and shall be binding upon and enforceable against such Borrower to the same extent as if made directly by such Borrower. No termination of the appointment of Administrative Borrower as agent as aforesaid shall
be effective, except after ten (10) days’ prior written notice to Administrative Agent. 
 SECTION 2.04 Evidence
of Debt; Repayment of Loans. 
 (a) Promise to Repay. Borrowers hereby unconditionally promise to pay (i) to
the Administrative Agent for the account of each Revolving Lender, the then unpaid principal amount of each Revolving Loan of such Revolving Lender on the Revolving Maturity Date and (ii) to the Swingline Lender, the then unpaid principal
amount of each Swingline Loan on the earlier of the Revolving 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 two Business Days after such Swingline Loan is made;
provided that on each date that a Revolving Borrowing is made, Borrowers shall repay all Swingline Loans that were outstanding on the date such Borrowing was requested. 
 (b) Lender and Administrative Agent Records. Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of Borrowers to such Lender
resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. The Administrative Agent shall maintain records including
(i) the amount of each Loan made hereunder, the Type and Class 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 Borrowers to each Lender
hereunder; and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. The entries made in the records maintained by the Administrative Agent and each
Lender pursuant to this paragraph shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided that the failure of any Lender or the Administrative Agent to maintain such records or any error
therein shall not in any manner affect the obligations of Borrowers to repay the Loans in accordance with their terms. In the event of any conflict between the records maintained by any Lender and the records of the Administrative Agent in respect
of such matters, the records of the Administrative Agent shall be prima facie evidence of the information therein in the absence of manifest error. 
 (c) Promissory Notes. Any Lender by written notice to Administrative Borrower (with a copy to the Administrative Agent) may request that Loans of any Class made by it be evidenced by a promissory
note. In such event, Borrowers shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) in the form of Exhibit K-1, or
K-2, as the case may be. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 10.04) be represented by one or more promissory notes in such
form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

  
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 SECTION 2.05 Fees. 

(a) Commitment Fee. Borrowers agree to pay to the Administrative Agent for the account of each Lender a commitment fee (a
“Commitment Fee”) equal to the Applicable Fee per annum on the average daily unused amount of each Commitment of such Lender during the period from and including the date hereof to but excluding the date on which such Commitment
terminates. Accrued Commitment Fees shall be payable in arrears (A) on the last Business Day of March, June, September and December of each year, commencing on the first such date to occur after the date hereof, and (B) on the date on
which such Commitment terminates. Commitment Fees shall be computed on the basis of a year of 365 days (or 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 Commitment Fees with respect to Revolving Commitments, a Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline Exposure of
such Lender shall be disregarded for such purpose). 
 (b) Administrative Agent Fees and Other Fees. Borrowers agree to
pay (i) to the Administrative Agent, for its own account, the administrative fees payable in the amounts and at the times separately agreed upon between Borrowers and the Administrative Agent (the “Administrative Agent Fees”)
and (ii) any other fees otherwise payable under the Fee Letters in the amounts, at the times and in the manner separately agreed to therein. 
 (c) LC and Fronting Fees. Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender a participation fee (“LC Participation Fee”) with
respect to its participations in Letters of Credit, which shall accrue at a rate equal to the Applicable Margin from time to time used to determine the interest rate on Eurodollar Revolving Loans pursuant to Section 2.06 on the average
daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to Reimbursement Obligations) during the period from and including the Closing Date to but excluding the later of the date on which such Lender’s
Revolving Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee (“Fronting Fee”), which shall accrue at the rate of 0.125% per annum on the
average daily amount of the LC Exposure (excluding any portion thereof attributable to Reimbursement Obligations) during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving
Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder.
Accrued LC Participation Fees and Fronting Fees shall be payable in arrears (i) on the last Business Day of March, June, September and December of each year, commencing on the first such date to occur after the Closing Date, and (ii) on
the date on which the Revolving Commitments terminate. Any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be
payable within 10 days after demand therefor. All LC Participation Fees and Fronting Fees shall be computed on the basis of a year of 365 days (or 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). 

  
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 (d) All Fees shall be paid on the dates due, in immediately available funds in dollars, to
the Administrative Agent for distribution, if and as appropriate, among the Lenders, except that Borrowers shall pay the Fronting Fees directly to the Issuing Bank and Borrowers shall pay any other fees payable under the Fee Letters at the times and
in the manner separately agreed to therein. Once paid, none of the Fees shall be refundable under any circumstances. 

SECTION 2.06 Interest on Loans. 
 (a) ABR Loans. Subject to the provisions of Section 2.06(c), the Loans comprising each ABR Borrowing, including each Swingline Loan, shall bear interest at a rate per annum equal to the
Alternate Base Rate plus the Applicable Margin in effect from time to time. 
 (b) Eurodollar Loans. Subject to the
provisions of Section 2.06(c), the Loans comprising each Eurodollar Borrowing shall bear interest at a rate per annum equal to the Adjusted LIBOR Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin in
effect from time to time. 
 (c) Default Rate. Notwithstanding the foregoing, if there is an Event of Default or if any
principal of or interest on any Loan or any fee or other amount payable by Borrowers hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, any such amount of principal of or interest on any Loan or any fee or
other amount payable by Borrowers hereunder that is past due shall, to the extent permitted by applicable law, bear interest, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue amounts constituting
principal on any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section 2.06 or (ii) in the case of any other outstanding and overdue amount, 2% plus the rate
applicable to ABR Revolving Loans as provided in Section 2.06(a) (in either case, the “Default Rate”). 
 (d) Interest Payment Dates. Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan; provided that (i) interest accrued pursuant to
Section 2.06(c) shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan or a Swingline Loan without a permanent reduction in Revolving Commitments),
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 Calculation. All
interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate 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 or Adjusted LIBOR Rate shall be determined by the Administrative Agent in accordance with the provisions of
this Agreement and such determination shall be prima facie evidence thereof absent manifest error. 
 SECTION 2.07
Termination and Reduction of Commitments. 
 (a) Termination of Commitments. The Revolving Commitments, the
Swingline Commitment and the LC Commitment shall automatically terminate on the Revolving Maturity Date. 

  
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 (b) Optional Terminations and Reductions. At their option, Borrowers may at any time
terminate, or from time to time permanently reduce, the Commitments of any Class; provided that (i) each reduction of the Commitments of any Class shall be in an amount that is an integral multiple of $1.0 million and not less than $2.0
million and (ii) the Revolving Commitments shall not be terminated or reduced if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section 2.10, the aggregate amount of Revolving Exposures
would exceed the aggregate amount of Revolving Commitments. 
 (c) Borrower Notice. Administrative Borrower shall notify
the Administrative Agent in writing of any election to terminate or reduce the Commitments under Section 2.07(b) at least three 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 Administrative Borrower pursuant to this Section shall be irrevocable; provided
that a notice of termination of the Commitments delivered by Administrative Borrower may state that such notice is conditioned upon the effectiveness of another credit facility or the closing of a securities offering or other transaction which
will result in the repayment of the Obligations in full in cash (other than Unasserted Contingent Obligations) and the termination of all of the Commitments, in which case such notice may be revoked by Administrative Borrower (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments of any Class shall be permanent. Each reduction of the Commitments of any Class shall be made
ratably among the Lenders in accordance with their respective Commitments of such Class. 
 SECTION 2.08 Interest
Elections. 
 (a) Generally. Each Revolving Borrowing initially shall be of the Type specified in the applicable
Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, Borrowers 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. Borrowers may elect different options with respect to different portions of the affected Borrowing, in which case each such portion
shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. Notwithstanding anything to the contrary, Borrowers shall not be entitled
to request any conversion or continuation that, if made, would result in more than five Eurodollar Borrowings outstanding hereunder at any one time. This Section shall not apply to Swingline Borrowings, which may not be converted or continued.

 (b) Interest Election Notice. To make an election pursuant to this Section, Administrative Borrower shall deliver, by
hand delivery, telecopier or email attachment, a duly completed and executed Interest Election Request to the Administrative Agent not later than the time that a Borrowing Request would be required under Section 2.03 if Borrowers were
requesting Loans of the Type resulting from such election to be made on the effective date of such election. Each Interest Election Request shall be irrevocable. Each 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, or if outstanding Borrowings are being combined, allocation to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and
(iv) below shall be specified for each resulting Borrowing); 

  
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 (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 Borrowers shall be deemed to have selected an Interest Period of one month’s
duration. 
 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. 
 (c) Automatic Conversion to ABR
Borrowing. If an Interest Election Request with respect to a Eurodollar Borrowing is not timely delivered 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 has occurred and is continuing, the Administrative Agent or the Required Lenders may require, by notice to
Administrative Borrower, that (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest
Period applicable thereto. 
 SECTION 2.09 [Intentionally Omitted]. 

SECTION 2.10 Optional and Mandatory Prepayments of Loans. 

(a) Optional Prepayments. Borrowers shall have the right at any time and from time to time to prepay any Borrowing, in whole or in
part, subject to the requirements of Section 2.10 and Section 2.13; provided that each partial prepayment shall be in an amount that is an integral multiple of $250,000 and not less than $1.0 million or, if less, the
outstanding principal amount of such Borrowing. 
 (b) Revolving Loan Prepayments. 

(i) In the event of the termination of all the Revolving Commitments, Borrowers shall, on the date of such termination,
repay or prepay all their outstanding Revolving Borrowings and all outstanding Swingline Loans and replace all outstanding Letters of Credit or cash collateralize all outstanding Letters of Credit in accordance with the procedures set forth in
Section 2.18(i). 
 (ii) In the event of any partial reduction of the Revolving Commitments, then
(x) at or prior to the effective date of such reduction, the Administrative Agent shall notify Borrowers and the Revolving Lenders of the sum of the Revolving Exposures after giving effect thereto and

  
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 (y) if the sum of the Revolving Exposures would exceed the aggregate amount of Revolving
Commitments after giving effect to such reduction, then Borrowers shall, on the date of such reduction, first, repay or prepay Swingline Loans, second, repay or prepay Revolving Borrowings and third, replace outstanding Letters
of Credit or cash collateralize outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i), in an aggregate amount sufficient to eliminate such excess. 

(iii) In the event that the sum of all Lenders’ Revolving Exposures exceeds either (A) the Borrowing Base then
in effect or (B) the Revolving Commitments then in effect, Borrowers shall, without notice or demand, promptly first, repay or prepay Swingline Loans, second, repay or prepay Revolving Borrowings, and third, cash
collateralize outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i), in an aggregate amount sufficient to eliminate such excess. 

(iv) In the event that the aggregate LC Exposure exceeds the LC Commitment then in effect, Borrowers shall, without notice
or demand, promptly replace outstanding Letters of Credit or cash collateralize outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i), in an aggregate amount sufficient to eliminate such excess.

 (v) In the event that the aggregate Swingline Exposure exceeds the Swingline Commitment then in effect
Borrowers shall, without notice or demand, promptly repay or prepay Swingline Loans in an aggregate amount sufficient to eliminate such excess. 
 (c) Asset Sales. Subject to the terms and conditions of the applicable Intercreditor Agreement, not later than five Business Days following the receipt of any Net Cash Proceeds of any Asset Sale of
Revolving Credit Priority Collateral by Holdings or any of its Subsidiaries, Borrowers shall make prepayments in accordance with Section 2.10(e) in an aggregate amount equal to the lesser of (i) the then outstanding Loans and
(ii) 100% of such Net Cash Proceeds. 
 (d) Casualty Events. Subject to the terms and conditions of the applicable
Intercreditor Agreement, not later than five Business Days following the receipt of any Net Cash Proceeds from a Casualty Event involving Revolving Credit Priority Collateral (other than Certain Hydrocarbon Assets and Intermediate Products subject
to a Lien in favor of MSCG or Statoil), by Holdings or any of its Subsidiaries, Borrowers shall make prepayments in accordance with Section 2.10(e) in an aggregate amount equal to the lesser of (i) the then outstanding Loans and
(ii) 100% of such Net Cash Proceeds. 
 (e) Application of Prepayments. Prior to any optional or mandatory
prepayment hereunder, Borrowers shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to Section 2.10(f), subject to the provisions of this Section 2.10
(e). Subject to Section 8.02, and so long as no Default shall then exist and be continuing, all mandatory prepayments shall be applied as follows: first, to the Swingline Loans until the same has been reduced to zero (0);
second, to the Revolving Loans until the same has been reduced to zero (0); and third, to cash collateralize outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i). Such mandatory
prepayments of the Swingline Loans and Revolving Loans shall not cause a corresponding reduction in the Swingline Commitment or Revolving Commitments. 

  
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 Amounts to be applied pursuant to this Section 2.10 to the prepayment of
Revolving Loans shall be applied, as applicable, first to reduce outstanding ABR Revolving Loans. Any amounts remaining after each such application shall be applied to prepay Eurodollar Revolving Loans. Notwithstanding the foregoing, if the amount
of any prepayment of Loans required under this Section 2.10 shall be in excess of the amount of the ABR Loans at the time outstanding (an “Excess Amount”), only the portion of the amount of such prepayment as is equal to
the amount of such outstanding ABR Loans shall be immediately prepaid and, at the election of Borrowers, the Excess Amount shall be either (A) deposited in an escrow account on terms satisfactory to the Administrative Agent and applied to the
prepayment of Eurodollar Loans on the last day of the then next-expiring Interest Period for Eurodollar Loans; provided that (i) interest in respect of such Excess Amount shall continue to accrue thereon at the rate provided hereunder
for the Loans which such Excess Amount is intended to repay until such Excess Amount shall have been used in full to repay such Loans and (ii) at any time while a Default has occurred and is continuing, the Administrative Agent may, and upon
written direction from the Required Lenders shall, apply any or all proceeds then on deposit to the payment of such Loans in an amount equal to such Excess Amount or (B) prepaid immediately, together with any amounts owing to the Lenders under
Section 2.13. 
 (f) Notice of Prepayment. Administrative Borrower shall notify the Administrative Agent
(and, in the case of prepayment of a Swingline Loan, the Swingline Lender) by written notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days
before the date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment and (iii) in the case of prepayment of a Swingline Loan, not
later than 11:00 a.m., New York City time, on the date of prepayment. Each such notice shall be irrevocable; provided that a notice of prepayment delivered by Administrative Borrower may state that such notice is conditioned upon the
effectiveness of another credit facility or the closing of a securities offering, in which case such notice may be revoked by Administrative Borrower (by notice to the Administrative Agent on or prior to the specified payment date) if such condition
is not satisfied. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such
prepayment. Promptly following receipt of any such notice (other than a notice relating solely to Swingline Loans), the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an
amount that would be permitted in the case of a Credit Extension 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 shall be
applied ratably to the Loans included in the prepaid Borrowing and otherwise in accordance with this Section 2.10. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.06. 

SECTION 2.11 Alternate Rate of Interest. 
 If prior to the commencement of any Interest Period for a Eurodollar Borrowing: 
 (a) the Administrative Agent reasonably determines (which determination shall be prima facie evidence of the facts so determined absent manifest error) that adequate and reasonable means do not exist for
ascertaining the Adjusted LIBOR Rate for such Interest Period; or 
 (b) the Administrative Agent reasonably
determines or is advised in writing by the Required Lenders that the Adjusted LIBOR Rate 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; 

  
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 then the Administrative Agent shall give written notice thereof to Borrowers and the Lenders as promptly as
practicable thereafter and, until the Administrative Agent notifies Borrowers and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Eurodollar Borrowing requested to be made on the first day of such Interest
Period shall be made as a Market Disruption Loan, (ii) any Borrowing that were to have been converted on the first day of such Interest Period to a Eurodollar Borrowing shall be continued as a Market Disruption Loan and (iii) any
outstanding Eurodollar Borrowing shall be converted, on the last day of the then-current Interest Period, to a Market Disruption Loan; in each case, except to the extent the Borrowers in their sole discretion elect to have any such Borrowing to be
made as an, or converted into an, ABR Loan. 
 SECTION 2.12 Yield Protection. 

(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 reflected in the Adjusted LIBOR Rate) or the Issuing Bank; 

(ii) subject any Lender or the Issuing Bank to any tax of any kind whatsoever with respect to this Agreement, any Letter
of Credit, any participation in a Letter of Credit or any Loan made by it, or change the basis of taxation of payments to such Lender or the Issuing Bank in respect thereof (except for Indemnified Taxes or Other Taxes indemnifiable under
Section 2.15 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the Issuing Bank); or 
 (iii) impose on any Lender or the Issuing Bank or the London interbank market any other condition, cost or expense affecting this Agreement or Eurodollar Loans made by such Lender or any Letter of Credit
or participation therein; 
 and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any
Eurodollar Loan (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender, the Issuing Bank or such Lender’s or the Issuing Bank’s holding company, if any, 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 Issuing Bank hereunder (whether of principal, interest or any
other amount), then, upon request of such Lender or the Issuing Bank, Borrowers will pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or the Issuing Bank, as the case may
be, for such additional costs incurred or reduction suffered. 
 (b) Capital Requirements. If any Lender or the Issuing
Bank determines (in good faith) 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 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
Commitments 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 

  
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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 Borrowers 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 its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section 2.12 and
delivered to Borrowers shall be prima facie evidence of the facts determined therein absent manifest error. Borrowers shall pay such Lender or the Issuing Bank, as the case may be, the amount shown as due on any such certificate within 15 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 2.12 shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such compensation; provided that Borrowers shall not be required to compensate a Lender or
the Issuing Bank pursuant to this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender or the Issuing Bank, as the case may be, notifies Borrowers 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-month period referred to above shall be extended to include the period of retroactive effect thereof) . 
 SECTION 2.13
Breakage Payments. 
 In the event of (a) the payment or prepayment, whether optional or mandatory, of any
principal of any Eurodollar Loan earlier than 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 earlier than 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 or (d) the assignment of any Eurodollar Loan earlier than the last day of the
Interest Period applicable thereto as a result of a request by Administrative Borrower pursuant to Section 2.16(b), then, in any such event, Borrowers 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 reasonably equal to the actual loss or expense arising from the liquidation or reemployment of funds obtained by such Lender to
maintain such Loss. A certificate of any Lender setting forth in reasonable detail any amount or amounts that such Lender is entitled to receive pursuant to this Section 2.13 shall be delivered to Borrowers (with a copy to the
Administrative Agent) and shall be prima facie evidence of the facts determined therein absent manifest error. Borrowers shall pay such Lender the amount shown as due on any such certificate within 5 days after receipt thereof. 

SECTION 2.14 Payments Generally; Pro Rata Treatment; Sharing of Setoffs. 

(a) Payments Generally. Borrowers shall make each payment required to be made by them hereunder or under any other Loan Document
(whether of principal, interest, fees or Reimbursement Obligations, or of amounts payable under Section 2.12, 2.13, 2.15 or 10.03, or otherwise) on or before the time expressly required hereunder or under such other
Loan Document for such payment (or, if no such time is expressly required, prior to 2:00 p.m., New York City time), on the date when due, in 

  
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immediately available funds, without setoff, deduction or counterclaim. 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 at Stamford, Connecticut, except payments to be made directly to the Issuing Bank
or Swingline Lender as expressly provided herein and except that payments pursuant to Sections 2.12, 2.13, 2.15 and 10.03 shall be made directly to the persons entitled thereto and payments pursuant to other Loan
Documents shall be made to the persons specified therein. The Administrative Agent shall distribute any such payments received by it for the account of any other person to the appropriate recipient promptly following receipt thereof. If any payment
under any Loan Document shall be due on a day that is not a Business Day, unless specified otherwise, 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 under each Loan Document shall be made in dollars, except as expressly specified otherwise. 
 (b) Pro Rata Treatment. 
 (i) Each payment by Borrowers of
interest in respect of the Loans shall be applied to the amounts of such obligations owing to the Lenders pro rata according to the respective amounts then due and owing to the Lenders. 

(ii) Each payment on account of principal of the Revolving Borrowings shall be made pro rata according to the
respective outstanding principal amounts of the Revolving Loans then held by the Revolving Lenders, except as expressly provided in Section 2.20(d). 
 (c) Insufficient Funds. If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, Reimbursement Obligations, interest and
fees then due hereunder, such funds shall be applied (i) first, toward 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, toward payment of principal and Reimbursement Obligations then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and Reimbursement Obligations then due to such
parties. It is understood that the foregoing does not apply to any adequate protection payments under any federal, state or foreign bankruptcy, insolvency, receivership or similar proceeding, and that the Administrative Agent may, subject to any
applicable federal, state or foreign bankruptcy, insolvency, receivership or similar orders, distribute any adequate protection payments it receives on behalf of the Lenders to the Lenders in its sole discretion (i.e., whether to pay the
earliest accrued interest, all accrued interest on a pro rata basis or otherwise). 
 (d) Sharing of Set-Off. If any
Lender (and/or the Issuing Bank, which shall be deemed a “Lender” for purposes of this Section 2.14(d)) shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or
interest on any of its Loans or other Obligations resulting in such Lender’s receiving payment of a proportion of the aggregate amount of its Loans and accrued interest thereon or other 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 such other obligations 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 principal of and accrued interest on their respective Loans 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 

  
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 (ii) the provisions of this paragraph shall not be construed to apply to
(x) any payment made by Borrowers pursuant to and in accordance with the express terms of this Agreement or (y) 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 Holdings or any Subsidiary thereof (as to which the provisions of this paragraph shall apply). 
 Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable Requirements of 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. If under applicable
bankruptcy, insolvency or any similar law any Secured Party receives a secured claim in lieu of a setoff or counterclaim to which this Section 2.14(d) applies, such Secured Party shall to the extent practicable, exercise its rights in
respect of such secured claim in a manner consistent with the rights to which the Secured Party is entitled under this Section 2.14(d) to share in the benefits of the recovery of such secured claim. 

(e) Borrower Default. Unless the Administrative Agent shall have received notice from Administrative 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 Borrowers will not make such payment, the Administrative Agent may assume that Borrowers have 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 Borrowers have 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 the 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 2.15 Taxes. 
 (a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Loan Parties hereunder or under any other Loan Document shall be made free and clear of and without
reduction or withholding for any Indemnified Taxes or Other Taxes; provided that if the applicable withholding agent shall be required by applicable Requirements of Law (as determined in the good faith discretion of the applicable withholding
agent) to deduct any Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be increased by the Loan Parties as necessary so that after all required deductions have been made (including deductions
applicable to additional sums payable under this Section) the Administrative Agent or Lender, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made, (ii) the applicable withholding agent
shall make such deductions and (iii) the applicable withholding shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable Requirements of Law. 

  
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 (b) Payment of Other Taxes by Borrowers. Without limiting the provisions of paragraph
(a) above, Borrowers shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Requirements of Law. 
 (c) Indemnification by Borrowers. Borrowers shall indemnify the Administrative Agent and each Lender, within 10 days after demand therefor, for the full amount of any Indemnified Taxes or Other
Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) payable by the Administrative Agent or such Lender, as the case may be, and any reasonable expenses arising therefrom or
with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to Borrowers 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, setting forth in reasonable detail the basis for the calculations of such payment or liability and including reasonable
supporting evidence shall be prima facie evidence thereof absent manifest error. 
 (d) Evidence of Payments. As soon as
practicable after any payment of Indemnified Taxes or Other Taxes by Borrowers to a Governmental Authority, Administrative 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. 
 (e) Status of Lenders. On or prior to the date on which such Foreign Lender becomes a Lender under this Agreement, including by assignment, any Foreign Lender that is entitled to an exemption from
or reduction of any withholding tax with respect to any payments hereunder or under any other Loan Document shall, to the extent it may lawfully do so, deliver to Administrative Borrower and to the Administrative Agent, at the time or times
reasonably requested by Administrative Borrower or the Administrative Agent, such properly completed and executed documentation prescribed by applicable Requirements of Law as will permit such payments to be made without withholding or at a reduced
rate of withholding. In addition, any Lender, if requested by Administrative Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Requirements of Law or reasonably requested by Administrative Borrower
or the Administrative Agent as will enable Administrative 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 above two sentences, in the case of any taxes that are not U.S. federal withholding taxes, the completion, execution and submission of non-U.S. federal forms shall not be required if in the Lender’s judgment such completion, execution or
submission would subject such Lender to any unreimbursed cost or expense or would be disadvantageous to such Lender in any material respect. 

Without limiting the generality of the foregoing, in the event that any Borrower is resident for tax purposes in the United States of America, any
Foreign Lender shall, to the extent it may lawfully do so, deliver to Administrative 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 assignment (and from time to time thereafter upon the request of Administrative Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the
following is applicable: 
 (i) duly completed copies of Internal Revenue Service Form W-8BEN (or any successor
forms) claiming eligibility for benefits of an income tax treaty to which the United States of America is a party, 

  
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 (ii) duly completed copies of Internal Revenue Service Form W-8ECI (or any
successor forms), 
 (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, in substantially the form of Exhibit Q, or any other form approved by the Administrative Agent, to the effect that such Foreign Lender is not (A) a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of a Borrower within the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described
in Section 881(c)(3)(C) of the Code, and that no payments in connection with the Loan Documents are effectively connected with such Foreign Lender’s conduct of a U.S. trade or business and (y) duly completed copies of Internal Revenue
Service Form W-8BEN (or any successor forms), 
 (iv) to the extent a Foreign Lender is not the beneficial owner
(for example, where the Foreign Lender is a partnership or participating Lender granting a typical participation), duly completed copies of Internal Revenue Service Form W-8IMY (or any successor forms), accompanied by a Form W-8ECI, W-8BEN, a
certificate in substantially the form of Exhibit Q, Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that, if the Foreign Lender is a partnership (and not a participating Lender) and
one or more beneficial owners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a certificate, in substantially the form of Exhibit Q, on behalf of such beneficial owner(s), 

(v) if a payment made to a Lender hereunder or pursuant to any Notes would be subject to U.S. federal withholding tax
imposed by FATCA if such Lender fails 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 Administrative Agent and
Administrative Borrower (A) a certification signed by the chief financial officer, principal accounting officer, treasurer or controller and (B) other documentation reasonably requested by the Administrative Agent and Administrative
Borrower sufficient for Administrative Agent and Administrative Borrower to comply with their obligations under FATCA and to determine that such Lender has complied with such applicable reporting requirements, or 

(vi) any other form prescribed by applicable Requirements of Law as a basis for claiming exemption from or a reduction in
United States federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable Requirements of Law to permit Borrowers and the Administrative Agent to determine the withholding or deduction
required to be made. 
 Each Foreign Lender shall, from time to time after the initial delivery by such Foreign Lender of the
forms described above, whenever a lapse in time or change in such Foreign Lender’s circumstances renders such forms, certificates or other evidence so delivered obsolete or inaccurate, promptly (1) deliver to the Administrative Borrower
and the Administrative Agent (in such number of copies as shall be requested by the recipient) renewals, amendments or additional or successor forms, properly completed and duly executed by such Foreign

  
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Lender, together with any other certificate or statement of exemption required in order to confirm or establish such Foreign Lender’s status or that such Foreign Lender is entitled to an
exemption from or reduction in U.S. federal withholding tax or (2) notify Administrative Agent and Borrowers of its inability to deliver any such forms, certificates or other evidence. 

Any Lender that is not a Foreign Lender shall deliver to Administrative 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 as prescribed by applicable law or upon the request of Administrative Borrower or the Administrative Agent), duly executed and properly completed copies of
Internal Revenue Service Form W-9 certifying that it is not subject to backup withholding. 
 (f) Treatment of Certain
Refunds. If the Administrative Agent or a Lender determines, in its sole discretion, that it has received a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by a Loan Party or with respect to which a Loan Party
has paid additional amounts pursuant to this Section, it shall pay to the applicable 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 with
respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender, 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 such Loan Party, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid over to such Loan Party (plus any penalties, interest or other
charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender or in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority. This paragraph shall not be
construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information relating to its taxes that it deems confidential) to Borrowers or any other person. Notwithstanding anything to the contrary, in
no event will the Administrative Agent or any Lender be required to pay any amount to a Loan Party the payment of which would place the Administrative Agent or such Lender in a less favorable net after-tax position than the Administrative Agent or
such Lender would have been in if the Indemnified Taxes or Other Taxes giving rise to such refund had never been imposed in the first instance. 
 (g) Payments. For purposes of this Section 2.15, (i) any payments by the Administrative Agent to a Lender of any amounts received by the Administrative Agent from Borrowers on
behalf of such Lender shall be treated as a payment from Borrowers to such Lender and (ii) if a Lender is treated as a partnership by a jurisdiction imposing an Indemnified Tax, any withholding or payment of such Indemnified Tax by the Lender
in respect of any of such Lender’s partners shall be considered a withholding or payment of such Indemnified Tax by the Borrowers. 
 (h) Issuing Bank. For all purposes of this Section 2.15, the term Lender shall include the Issuing Bank. 
 SECTION 2.16 Mitigation Obligations; Replacement of Lenders. 
 (a)
Designation of a Different Lending Office. If any Lender requests compensation under Section 2.12, or requires Borrowers to indemnify or pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.15, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its
offices, branches or affiliates, if, 

  
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in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.12 or 2.15, 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. Borrowers hereby agree to pay all reasonable costs and expenses incurred by any Lender in connection
with any such designation or assignment. A certificate setting forth such costs and expenses submitted by such Lender to Administrative Borrower, setting forth in reasonable detail the basis for the calculations of such costs and expenses and
including reasonable supporting evidence, shall be prima facie evidence thereof absent manifest error. 
 (b) Replacement of
Lenders. If any Lender requests compensation under Section 2.12, or if Borrowers are required to indemnify or pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 2.15, or if any Lender is a Defaulting Lender, or if Borrowers exercise their replacement rights under Section 10.02(d), then Borrowers may, at their 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 10.04), all of its interests, rights and obligations
under this Agreement and the other 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: 

(i) Borrowers shall have paid (or shall have caused to be paid) to the Administrative Agent the processing and recordation
fee specified in Section 10.04(b); 
 (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 2.13) (other than indemnities and other Contingent Obligations not then due and payable), assuming for this purpose (in the case of a Lender being replaced pursuant to Section 2.12, 2.15 or
10.02(d)) that the Loans of such Lender were being prepaid) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or Borrowers (in the case of all other amounts) 

(iii) in the case of any such assignment resulting from a claim for compensation under Section 2.12 or
payments required to be made pursuant to Section 2.15, such assignment will result in a reduction in such compensation or payments thereafter; and 
 (iv) such assignment does not conflict with applicable Requirements of Law. 
 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 Borrowers to require such assignment and delegation cease to apply. 

Each Lender agrees that, if Borrowers elect to replace such Lender in accordance with this Section 2.16(b), they shall
promptly execute and deliver to the Administrative Agent an Assignment and Assumption to evidence the assignment and shall deliver to the Administrative Agent any Note (if Notes have been issued in respect of such Lender’s Loans) subject to
such Assignment and Assumption; provided that the failure of any such Lender to execute an Assignment and Assumption shall not render such assignment invalid and such assignment shall be recorded in the Register. 

  
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 SECTION 2.17 Swingline Loans. 

(a) Swingline Commitment. Subject to the terms and conditions set forth herein, the Swingline Lender agrees, in reliance upon the
agreements of the other Lenders set forth in this Section 2.17 and in its discretion, to make Swingline Loans to Borrowers from time to time during the Revolving Availability Period, in an aggregate principal amount at any time
outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $10,000,000 or (ii) the sum of the total Revolving Exposures exceeding the lesser of (A) the total Revolving Commitments
and (B) the Borrowing Base; provided that the Borrowers shall not use the proceeds of any Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein,
Borrowers may borrow, repay and reborrow Swingline Loans. 
 (b) Swingline Loans. To request a Swingline Loan,
Administrative Borrower shall deliver, by hand delivery, telecopier or email attachment, a duly completed and executed Borrowing Request to the Administrative Agent and the Swingline Lender, not later than 1:00 p.m., New York City time, on the day
of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and the amount of the requested Swingline Loan. Each Swingline Loan shall be an ABR Loan. The Swingline Lender
shall make each Swingline Loan available to Borrowers to an account as directed by Administrative Borrower in the applicable Borrowing Request maintained with the Administrative Agent (or, in the case of a Swingline Loan made to finance the
reimbursement of an LC Disbursement as provided in Section 2.18(e), by remittance to the Issuing Bank) by 3:00 p.m., New York City time, on the requested date of such Swingline Loan. Administrative Borrower shall not request a Swingline
Loan if at the time of or immediately after giving effect to the Extension of Credit contemplated by such request a Default has occurred and is continuing or would result therefrom. Swingline Loans shall be made in minimum amounts of $1.0 million
and integral multiples of $100,000 above such amount. 
 (c) Prepayment. Borrowers shall have the right at any time and
from time to time to repay any Swingline Loan, in whole or in part, upon giving written notice to the Swingline Lender and the Administrative Agent before 2:00 p.m., New York City time, on the proposed date of prepayment. 

(d) Participations. The Swingline Lender may at any time in its discretion, and shall, at least once each week, by written notice
given to the Administrative Agent (provided such notice requirement shall not apply if the Swingline Lender and the Administrative Agent are the same entity) not later than 11:00 a.m., New York City time, on the next succeeding Business Day
following such notice require the Revolving Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans then outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Revolving
Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice such Lender’s Pro Rata Percentage of such Swingline Loan or Loans. Each
Revolving Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such Lender’s Pro Rata Percentage of such Swingline Loan or
Loans. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the
occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever (so long as such payment shall not cause such
Lender’s Revolving Exposure to exceed such Lender’s Revolving Commitment). Each Revolving Lender shall comply with its obligation 

  
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under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.02(c) with respect to Loans made by such Lender (and
Section 2.02 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from the Revolving Lenders.
The Administrative Agent shall notify Administrative Borrower of any participations in any Swingline Loan acquired by the Revolving Lenders pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the
Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender from Borrowers (or other party on behalf of Borrowers) in respect of a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale
of participations therein shall be promptly remitted to the Administrative Agent. Any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Lenders that shall have made their
payments pursuant to this paragraph, as their interests may appear. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve Borrowers of any default in the payment thereof. 

SECTION 2.18 Letters of Credit. 
 (a) General. Subject to the terms and conditions set forth herein, Administrative Borrower may request the Issuing Bank, and the Issuing Bank agrees, to issue Letters of Credit for a
Borrower’s own account or the account of a Subsidiary in a form reasonably acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time during the Revolving Availability Period (provided that the
applicable Borrower shall be a co-applicant, and be jointly and severally liable, with respect to each Letter of Credit issued for the account of a Subsidiary). The Issuing Bank shall have no obligation to issue, and Administrative Borrower shall
not request the issuance of, any Letter of Credit at any time if after giving effect to such issuance, the LC Exposure would exceed the LC Commitment or the total Revolving Exposure would exceed the lesser of (A) total Revolving Commitments and
(B) the Borrowing Base. 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 Administrative Borrower to, or
entered into by Borrowers with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 
 (b) Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding
Letter of Credit, Administrative Borrower shall deliver, by hand or telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank), an LC Request to the Issuing Bank and the Administrative
Agent not later than 11:00 a.m. on the second Business Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). 

A request for an initial issuance of a Letter of Credit shall be provided and delivered by the Administrative Borrower and shall specify
in form and detail satisfactory to the Issuing Bank: 
 (i) the proposed issuance date of the requested Letter of
Credit (which shall be a Business Day); 
 (ii) the amount thereof; 

  
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 (iii) the expiry date thereof (which shall not be later than the close of
business on the Letter of Credit Expiration Date); 
 (iv) the name and address of the beneficiary thereof;

 (v) whether the Letter of Credit is to be issued for its own account or for the account of one of its
Subsidiaries (provided that such Borrower shall be a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of a Subsidiary); 

(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder; 

(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and

 (viii) such other matters as the Issuing Bank may require. 

A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably
satisfactory to the Issuing Bank: 
 (i) the Letter of Credit to be amended, renewed or extended; 

(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day); 

(iii) the nature of the proposed amendment, renewal or extension; and 

(iv) such other matters as the Issuing Bank may reasonably require. 

If requested by the Issuing Bank, Administrative 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, Administrative Borrower shall be deemed to
represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Commitment, (ii) the total Revolving Exposures shall not exceed the lesser of (A) the
total Revolving Commitments and (B) the Borrowing Base and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied. Unless the Issuing Bank and the
Administrative Agent shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000, in the case of a Commercial Letter of Credit, or $500,000, in the case of a Standby Letter of Credit. 

Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit, the Issuing Bank shall
promptly notify the Administrative Agent, who shall promptly notify each Revolving Lender, thereof, which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit and the
amount of such Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d). If the Issuing Bank is not the same person as the Administrative Agent, on the first Business Day of each calendar month, the
Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender. 

  
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 (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of
business on the earlier of (i) (x) the date which is 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 (y) the Letter
of Credit Expiration Date, and (ii) if Administrative Borrower so requests in any Letter of Credit Request, the Issuing Bank may, in its sole and absolute discretion, agree to issue a Letter of Credit that has automatic renewal provisions
(each, an “Auto-Renewal Letter of Credit”); provided that any such Auto-Renewal Letter of Credit must permit the Issuing Bank to prevent any such renewal at least once in each twelve-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 in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the Issuing Bank,
Borrowers shall not be required to make a specific request to the Issuing Bank for any such renewal. Once an Auto-Renewal Letter of Credit has been issued, the Revolving Lenders shall be deemed to have authorized (but may not require) the Issuing
Bank to permit the renewal of such Letter of Credit at any time to an expiry date not later than the earlier of (i) one year from the date of such renewal and (ii) the Letter of Credit Expiration Date; provided that the Issuing Bank shall
not permit any such renewal if (x) the Issuing Bank has determined that it would have no obligation at such time to issue such Letter of Credit in its renewed form under the terms hereof (by reason of the provisions of
Section 2.18(k) or otherwise), or (y) it has received notice on or before the day that is two Business Days before the date which has been agreed upon pursuant to the proviso of the first sentence of this paragraph, (1) from
the Administrative Agent that any Revolving Lender directly affected thereby has elected not to permit such renewal or (2) from the Administrative Agent, any Lender or Borrowers that one or more of the applicable conditions specified in
Section 4.03 are not then satisfied. 
 (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 irrevocably grants to each Revolving Lender, and each Revolving Lender hereby
acquires from the Issuing Bank, a participation in such Letter of Credit equal to such Revolving Lender’s Pro Rata Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the
foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Revolving Lender’s Pro Rata Percentage of each LC Disbursement made by the Issuing Bank
and not reimbursed by Borrowers on the date due as provided in Section 2.18(e), or of any reimbursement payment required to be refunded to Borrowers for any reason. Each Revolving Lender acknowledges and agrees that its obligation to
acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the
occurrence and continuance of a Default or reduction or termination of the Commitments, or expiration, termination or cash collateralization of any Letter of Credit and that each such payment shall be made without any offset, abatement, withholding
or reduction whatsoever. 
 (e) Reimbursement. 
 (i) If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, Borrowers shall reimburse such LC Disbursement by paying to the Issuing Bank an amount equal to such LC
Disbursement not later than 3:00 p.m., New York City time, on the date that such LC 

  
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Disbursement is made if Administrative Borrower shall have received notice of such LC Disbursement prior to 11:00 a.m., New York City time, on such date, or, if such notice has not been received
by Administrative Borrower prior to such time on such date, then not later than 3:00 p.m., New York City time, on the Business Day immediately following the day that Administrative Borrower receives such notice; provided that Administrative
Borrower may request in accordance with Section 2.03 that such payment be financed with ABR Revolving Loans or Swingline Loans (which ABR Revolving Loans or Swingline Loans, as the case may be, will not be subject to the conditions to
borrowing set forth herein) in an equivalent amount and, to the extent so financed, Borrowers’ obligation to make such payment shall be discharged and replaced by the resulting ABR Revolving Loans or Swingline Loans. 

(ii) If Borrowers fail to make such payment when due, the Issuing Bank shall notify the Administrative Agent and the Administrative Agent
shall notify each Revolving Lender of the applicable LC Disbursement, the payment then due from Borrowers in respect thereof and such Revolving Lender’s Pro Rata Percentage thereof. Each Revolving Lender shall pay by wire transfer of
immediately available funds to the Administrative Agent not later than 2:00 p.m., New York City time, on such date (or, if such Revolving Lender shall have received such notice later than 12:00 noon, New York City time, on any day, not later than
11:00 a.m., New York City time, on the immediately following Business Day), an amount equal to such Revolving Lender’s Pro Rata Percentage of the unreimbursed LC Disbursement in the same manner as provided in Section 2.02(c) with
respect to Revolving Loans made by such Revolving Lender, and the Administrative Agent will promptly pay to the Issuing Bank the amounts so received by it from the Revolving Lenders. To the extent of any payments made by a Revolving Lender pursuant
to this Section 2.18(e)(ii), no Default or Event of Default will result from the failure of the Borrowers to make reimbursement in respect of the relevant LC Disbursement. The Administrative Agent will promptly pay to the Issuing Bank
any amounts received by it from Borrowers pursuant to the above paragraph prior to the time that any Revolving Lender makes any payment pursuant to the preceding sentence and any such amounts received by the Administrative Agent from Borrowers
thereafter will be promptly remitted by the Administrative Agent to the Revolving Lenders that shall have made such payments and to the Issuing Bank, as appropriate. 
 (iii) If any Revolving Lender shall not have made its Pro Rata Percentage of such LC Disbursement available to the Administrative Agent as provided above, each of such Revolving Lender and Borrowers
severally agrees to pay interest on such amount, for each day from and including the date such amount is required to be paid in accordance with the foregoing to but excluding the date such amount is paid, to the Administrative Agent for the account
of the Issuing Bank at (i) in the case of Borrowers, the rate per annum set forth in Section 2.18(g) and (ii) in the case of such Lender, at a rate determined by the Administrative Agent in accordance with banking industry
rules or practices on interbank compensation. 
 (f) Obligations Absolute. The Reimbursement Obligation of Borrowers as
provided in Section 2.18(e) shall be absolute, unconditional and irrevocable, and shall be paid and performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of
(i) any lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein; (ii) any draft or other document presented under a Letter of Credit being proved to be forged, fraudulent, invalid or
insufficient 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 fails to comply with the terms of
such Letter of Credit; (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing (other than payment), that might, but for the provisions of this Section 2.18, constitute a legal or equitable
discharge of, or provide a right 

  
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of setoff against, the obligations of Borrowers hereunder; (v) the fact that a Default shall have occurred and be continuing; or (vi) any material adverse change in the business,
property, results of operations, prospects or condition, financial or otherwise, of Borrowers and their Subsidiaries. None of the Agents, the Lenders, the Issuing Bank or any of their Affiliates 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 Borrowers to the extent of any direct damages (as opposed to
consequential damages, claims in respect of which are hereby waived by Borrowers to the extent permitted by applicable Requirements of Law) suffered by Borrowers 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 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 give written notice to the Administrative Agent and Administrative Borrower 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 Borrowers of their Reimbursement Obligation to the Issuing Bank and the Revolving Lenders with respect to any such LC Disbursement
(other than with respect to the timing of such Reimbursement Obligation set forth in Section 2.18(e)). 
 (h)
Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, unless Borrowers shall reimburse such LC Disbursement or such LC Disbursement is repaid with Revolving Loans as set forth in clause (c) above in full on the date
such LC Disbursement is made, the unpaid amount thereof shall bear interest payable on demand, for each day from and including the date such LC Disbursement is made to and including the date that Borrowers are required to reimburse such LC
Disbursement under Section 2.18(e)(i), at the interest rate then in effect for ABR Loans, and thereafter, at the rate per annum determined pursuant to Section 2.06(c) until (but excluding) the date that Borrowers reimburse
such LC Disbursement or such LC Disbursement is repaid with Revolving Loans as set forth in clause (e) above. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after
the date of payment by any Revolving Lender pursuant to Section 2.18(e) to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment. 

  
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 (i) Cash Collateralization. If any Event of Default shall occur and be continuing, on
the Business Day that Administrative Borrower receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Revolving Lenders with LC Exposure representing greater than 50% of the total
LC Exposure) demanding the deposit of cash collateral pursuant to this paragraph, Borrowers shall deposit on terms and in accounts satisfactory to the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Revolving
Lenders, an amount in cash equal to 103% of the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall
become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to Borrowers described in Section 8.01(g) or (h). Funds so deposited shall be applied by the
Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of outstanding Reimbursement Obligations or, if the maturity of the
Loans has been accelerated (but subject to the consent of Revolving Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other Obligations of Borrowers under this Agreement. If Borrowers are
required to provide an amount of cash collateral under this Section 2.18(i) as a result of the occurrence of an Event of Default, such amount plus any accrued interest or realized profits with respect to such amounts (to the
extent not applied as aforesaid) shall be returned to Borrowers within three Business Days after all Events of Default have been cured or waived. 
 (j) Additional Issuing Banks. Borrowers may, at any time and from time to time, designate one or more additional Revolving Lenders to act as an issuing bank under the terms of this Agreement, with
the consent of the Administrative Agent (which consent shall not be unreasonably withheld), the Issuing Bank and such Revolving Lender(s). Any Revolving Lender designated as an issuing bank pursuant to this paragraph (j) shall have all
the rights and obligations of the Issuing Bank under the Loan Documents with respect to Letters of Credit issued or to be issued by it, and all references in the Loan Documents to the term “Issuing Bank” shall, with respect to such Letters
of Credit, be deemed to refer to such Revolving Lender in its capacity as the Issuing Bank, as the context shall require. The Administrative Agent shall notify the Lenders of any such additional Issuing Bank. If at any time there is more than one
Issuing Bank hereunder, Borrowers may, in their discretion, select which Issuing Bank is to issue any particular Letter of Credit. 
 (k) Resignation or Removal of the Issuing Bank. The Issuing Bank may resign as Issuing Bank hereunder at any time upon at least 30 days’ prior notice to the Lenders, the Administrative Agent
and Administrative Borrower. The Issuing Bank may be replaced at any time by written agreement among Borrowers, each 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 resignation of the Issuing Bank shall become effective, Borrowers shall pay all unpaid fees accrued for the account of the retiring Issuing Bank pursuant to Section 2.05(c). From and
after the effective date of any such resignation or 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 by it 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 resignation
or replacement of an Issuing Bank, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such
resignation or replacement, but shall not be required to issue additional Letters of Credit. 

  
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 (l) Other. The Issuing Bank shall be under no obligation to issue any Letter of
Credit if 
 (i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms
purport to enjoin or restrain the Issuing Bank from issuing such Letter of Credit, or any Requirement of Law applicable to the Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with
jurisdiction over the Issuing Bank shall prohibit, or request that the Issuing Bank refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the Issuing Bank with respect to such Letter of
Credit any restriction, reserve or capital requirement (for which the Issuing Bank is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the Issuing Bank any unreimbursed loss, cost or expense which was not
applicable on the Closing Date and which the Issuing Bank in good faith deems material to it; or 
 (ii) the
issuance of such Letter of Credit would violate one or more policies of the Issuing Bank. 
 The Issuing Bank shall be under no obligation to
amend any Letter of Credit if (A) the Issuing Bank 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 such Letter of Credit. 
 SECTION 2.19 Defaulting Lenders. 

Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions
shall apply for so long as such Lender is a Defaulting Lender: 
 (a) the Commitment Fee shall cease to accrue on
the Commitment of such Lender so long as it is a Defaulting Lender (except to the extent it is payable to the Issuing Bank pursuant to clause (c)(v) below); 

(b) if any Swingline Exposure or LC Exposure exists at the time a Lender becomes a Defaulting Lender then: 

(i) all or any part of such Swingline Exposure and LC Exposure shall be reallocated among the non-Defaulting Lenders in
accordance with their respective Pro Rata Percentages but only to the extent the sum of all non-Defaulting Lenders’ Revolving Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the total of all
non-Defaulting Lenders’ Revolving Commitments; 
 (ii) if the reallocation described in clause
(i) above cannot, or can only partially, be effected, Borrowers shall within one Business Day following notice by the Administrative Agent (x) first, prepay such Defaulting Lender’s Swingline Exposure and (y) second, cash
collateralize such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.18(i) for so long as such LC
Exposure is outstanding; 
 (iii) if any portion of such Defaulting Lender’s LC Exposure is cash
collateralized pursuant to clause (ii) above, Borrowers shall not be required to pay the LC Participation Fee with respect to such portion of such Defaulting Lender’s LC Exposure so long as it is cash collateralized; 

  
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 (iv) if any portion of such Defaulting Lender’s LC Exposure is
reallocated to the non-Defaulting Lenders pursuant to clause (i) above, then the LC Participation Fee with respect to such portion shall be allocated among the non-Defaulting Lenders in accordance with their Pro Rata Percentages; or

 (v) if any portion of such Defaulting Lender’s LC Exposure is neither cash collateralized nor reallocated
pursuant to this Section 2.19(b), then, without prejudice to any rights or remedies of the Issuing Bank or any Lender hereunder, the Commitment Fee that otherwise would have been payable to such Defaulting Lender (with respect to the
portion of such Defaulting Lender’s Revolving Commitment that was utilized by such LC Exposure) and the LC Participation Fee payable with respect to such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until such LC
Exposure is cash collateralized and/or reallocated; 
 (c) so long as any Lender is a Defaulting Lender, the
Swingline Lender shall not be required to fund any Swingline Loan and the Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless it is satisfied that the related exposure will be 100% covered by the Revolving
Commitments of the non-Defaulting Lenders and/or cash collateralized in accordance with Section 2.19(b), and participations in any such newly issued or increased Letter of Credit or newly made Swingline Loan shall be allocated among
non-Defaulting Lenders in accordance with their respective Pro Rata Percentages (and Defaulting Lenders shall not participate therein); and 
 (d) any amount payable to such Defaulting Lender hereunder (whether on account of principal, interest, fees or otherwise and including any amount that would otherwise be payable to such Defaulting Lender
pursuant to Section 2.14(d) but excluding Section 2.16(b)) may, in lieu of being distributed to such Defaulting Lender, be retained by the Administrative Agent in a segregated non-interest bearing account and, subject to any
applicable Requirements of Law, be applied at such time or times as may be determined by the Administrative Agent (i) first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder,
(ii) second, pro rata, to the payment of any amounts owing by such Defaulting Lender to the Issuing Bank or Swingline Lender hereunder, (iii) third, to the funding of any Loan or the funding or cash collateralization of any
participation in any Swingline Loan or Letter of Credit in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent, (iv) fourth, if so
determined by the Administrative Agent and Administrative Borrower, held in such account as cash collateral for future funding obligations of the Defaulting Lender under this Agreement, (v) fifth, pro rata, to the payment of any amounts
owing to Borrowers or the Lenders as a result of any judgment of a court of competent jurisdiction obtained by Borrowers or any Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this
Agreement and (vi) sixth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if such payment is (x) a prepayment of the principal amount of any Loans or Reimbursement
Obligations in respect of LC Disbursements which a Defaulting Lender has funded its participation obligations and (y) made at a time when the conditions set forth in Section 4.03 are satisfied, such payment shall be applied solely
to prepay the Loans of, and Reimbursement Obligations owed to, all non-Defaulting Lenders pro rata prior to being applied to the prepayment of any Loans, or Reimbursement Obligations owed to, any Defaulting Lender. 

  
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 In the event that the Administrative Agent, Administrative Borrower, the Issuing Bank or the Swingline
Lender, as the case may be, each agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall be readjusted to reflect the
inclusion of such Lender’s Commitment and on such date such Lender shall purchase at par such of the Loans of the other Lenders as the Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in
accordance with its Pro Rata Percentage. The rights and remedies against a Defaulting Lender under this Section 2.19 are in addition to other rights and remedies that Borrowers, the Administrative Agent, the Issuing Bank, the Swingline
Lender and the non-Defaulting Lenders may have against such Defaulting Lender. The arrangements permitted or required by this Section 2.19 shall be permitted under this Agreement, notwithstanding any limitation on Liens or the pro rata
sharing provisions or otherwise. 
 SECTION 2.20 Increase in Commitments. 

(a) Borrower Request. Administrative Borrower may by written notice to the Administrative Agent elect to request after the
commencement of the Revolving Availability Period and prior to the Revolving Maturity Date, an increase to the existing Revolving Commitments by an amount determined by the Administrative Borrower not in excess of $500,000,000 in the aggregate and
not less than $10,000,000 individually; provided that no more than three (3) increases to the Revolving Commitments shall be made pursuant to this Section 2.20 during the term of this Agreement. Each such notice shall specify
(i) the date (each, an “Increase Effective Date”) on which Administrative Borrower proposes that the increased or new Revolving Commitments shall be effective, which shall be a date not less than 5 Business Days after the date
on which such notice is delivered to the Administrative Agent and (ii) the identity of each Eligible Assignee to whom Administrative Borrower proposes any portion of such increased or new Revolving Commitments be allocated and the amounts of
such allocations; provided that any existing Lender approached to provide all or a portion of the increased or new Revolving Commitments may elect or decline, in its sole discretion, to provide such increased or new Revolving Commitment.

 (b) Conditions. The increased or new Revolving Commitments shall become effective, as of such Increase Effective Date;
provided that: 
 (i) each of the conditions set forth in Section 4.03 shall be satisfied on
or prior to the Increase Effective Date; 
 (ii) no Default shall have occurred and be continuing or would result
after giving effect thereto; 
 (iii) Borrowers shall make any payments required pursuant to
Section 2.13 in connection with any adjustment of Revolving Loans pursuant to Section 2.20(d); 
 (iv) Administrative Agent and Co-Collateral Agents shall have received audits and an Inventory Appraisal, in each case, reasonably satisfactory to Administrative Agent with respect to any new Accounts or
hydrocarbon Inventory being added to the Borrowing Base, if any, in connection with the Incremental Revolving Loans prior to such Accounts or hydrocarbon Inventory being included for purposes of calculating the Borrowing Base; 

  
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 (v) each Eligible Subsidiary of the Borrowers (other than an Excluded
Subsidiary) shall become a “Borrower” subject to the conditions set forth in Section 4.04; 

(vi) each of the representations and warranties made by any Loan Party set forth in Article III hereof or in any
other Loan Document shall be true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects) on
and as of the Increase Effective Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date; and 

(vii) Borrowers 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. 
 (c) Terms of New Loans and Commitments. The terms and
provisions, including, without limitation, interest, commitment fees and letter of credit participation fees, of Loans made pursuant to the new Revolving Commitments (“Incremental Revolving Loans”) shall be identical from and after
the date of effectiveness of the relevant Increase Joinder in all respects to the Revolving Loans. 
 The increased or new Commitments shall be
effected by a joinder agreement (the “Increase Joinder”) executed by Borrowers, the Administrative Agent and each Lender making such increased or new 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 2.20. In addition, unless otherwise specifically provided herein, all references in Loan Documents to Revolving Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Loans made pursuant
to new Revolving Commitments as set forth in this Section 2.20. 
 (d) Adjustment of Revolving Loans. Each
Revolving Lender that is acquiring a new or additional Revolving Commitment on the Increase Effective Date shall make a Revolving Loan, the proceeds of which will be used to prepay the Revolving Loans of the other Revolving Lenders that did not
acquire or agree to provide new or additional Revolving Commitments on such Increase Effective Date immediately prior to such Increase Effective Date, so that, after giving effect thereto, the Revolving Loans outstanding are held by the Revolving
Lenders pro rata based on their Revolving Commitments after giving effect to such Increase Effective Date. If there is a new borrowing of Revolving Loans on such Increase Effective Date, the Revolving Lenders after giving effect to such Increase
Effective Date shall make such Revolving Loans in accordance with Section 2.01. 
 (e) In addition to increased
Revolving Commitments pursuant to Section 2.20(a), the Borrowers may by written notice to the Administrative Agent elect to request the establishment of one or more new tranches of Revolving Commitments (the “Refinancing Loan
Commitments”), in an aggregate amount not to exceed $500,000,000, the proceeds of which shall be used solely to permanently replace then existing Revolving Commitments, and to pay fees, costs and expenses in connection therewith. Each such
notice shall specify the date (each, a “Refinancing Amount Date”) on which the Borrowers proposes 

  
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that the Refinancing Loan Commitments shall be effective, which shall be a date not less than five Business Days after the date on which such notice is delivered to the Administrative Agent. Such
Refinancing Loan Commitments shall become effective as of such Refinancing Amount Date; provided, that: (i) no Default or Event of Default shall exist on such Refinancing Amount Date immediately before or immediately after giving effect
to any such Refinancing Loan Commitments; (ii) any such Refinancing Loan Commitments shall be made effective pursuant to one or more joinder agreements, in form and substance reasonably satisfactory to the Administrative Agent, executed by the
Borrowers, the Lenders providing such Refinancing Loan Commitments and the Administrative Agent (each such joinder agreement, a “Refinancing Joinder Agreement”), each of which Refinancing Joinder Agreements shall be recorded in the
Register; (iii) the Borrowers shall pay all fees and expenses due and payable to the Administrative Agent and the Lenders in connection with any such Refinancing Loan Commitments; and (iv) the Borrowers shall deliver or cause to be
delivered any and all customary and appropriate legal opinions or other documents reasonably requested by the Administrative Agent in connection with any such transaction. 

(i) The terms and provisions of any Refinancing Revolving Loans and Refinancing Loan Commitments shall be such that,
except as otherwise set forth herein or in the applicable Refinancing Joinder Agreement, they shall be identical to those of the Revolving Loans and the Revolving Commitments as in effect on the Refinancing Amount Date with respect to such
Refinancing Revolving Loans and Refinancing Loan Commitments, in each case, from and after the Refinancing Amount Date; provided, however, that: (i) the applicable maturity date of any such Refinancing Revolving Loans shall be
later than the Revolving Maturity Date; (ii) the Liens securing any such Refinancing Revolving Loans and Refinancing Loan Commitments shall be secured on a pari passu basis with (or on a junior basis to) the Liens granted pursuant to the
Security Documents to secure the then existing Secured Obligations; and (iii) the rate of interest applicable to such Refinancing Revolving Loans shall be determined by the Borrowers and the applicable new Lenders and shall be set forth in each
applicable Refinancing Joinder Agreement. 
 (ii) On any Refinancing Amount Date on which any Refinancing Loan
Commitments are effective, subject to the satisfaction of the foregoing terms and conditions, (A) each Lender with a Refinancing Loan Commitment (each, a “Refinancing Revolving Credit Lender”) shall commit to make Revolving
Loans available to the Borrowers (“Refinancing Revolving Loans”) in an amount equal to its Refinancing Loan Commitment, and (B) each Refinancing Revolving Credit Lender shall become a Lender hereunder with respect to the
Refinancing Loan Commitment. 
 (iii) Each Refinancing Joinder Agreement 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 and the Borrower, to effect the provisions of this Section 2.20(e). 

(f) Equal and Ratable Benefit. The Loans and Commitments established pursuant to this paragraph 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 Guarantees and security interests created by the
Security 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 Security Documents continue to be perfected under the UCC or
otherwise after giving effect to the establishment of any such Class of Loans or any such new Commitments. 

  
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 SECTION 2.21 Determination of Borrowing Base. 

(a) Eligible Accounts. On any date of determination of the Borrowing Base, all of the Accounts owned by Borrowers and reflected in
the most recent Borrowing Base Certificate delivered by the Borrowers to the Administrative Agent and Co-Collateral Agents shall be “Eligible Accounts” for the purposes of this Agreement, except any Account to which any of the exclusionary
criteria set forth below applies. In addition, the Co-Collateral Agents shall have the right from time to time to establish, modify or eliminate Reserves and Hedging Reserves (without duplication) against Eligible Accounts. Eligible Accounts shall
not include any of the following Accounts: 
 (i) any Account in which the Administrative Agent, on behalf of the
Secured Parties does not have a perfected, first priority Lien (subject to Permitted Liens); 
 (ii) any Account
that is not owned by a Borrower; 
 (iii) any Account due from a Seller Note Lender or any Affiliates of it,
except if subject to customary and appropriate waivers of offset rights arrangements reasonably acceptable to Administrative Agent in respect of obligations owed by the Borrowers or their Subsidiaries under the Acquisition Agreements or the Seller
Note Documents; 
 (iv) any Account due from MSCG or Statoil, including any Account due from Statoil in respect
of the sale of Saudi Oil by a Loan Party to Statoil, except to the extent paid in cash to a Loan Party; 
 (v)
any Account due from an Account Debtor that is not domiciled in the United States or Canada or any province or territory thereof and (if not a natural Person) organized under the laws of the United States or any political subdivision thereof or
Canada or any province or territory thereof unless supported by an irrevocable letter of credit (up to the face amount of such letter of credit); 
 (vi) any Account that is payable in any currency other than in dollars; 
 (vii) any Account that does not arise from the sale of goods or the performance of services by the Borrowers in the ordinary course of their business; 

(viii) any Account that does not comply in all material respects with all applicable legal requirements, including,
without limitation, all laws, rules, regulations and orders of any Governmental Authority; 
 (ix) any Account
(a) to the extent that the applicable Borrower’s right to receive payment is not absolute or is contingent upon the fulfillment of any condition whatsoever unless such condition is satisfied or (b) as to which a Borrower is not able
to bring suit or otherwise enforce its remedies against the Account Debtor through judicial or administrative process or (c) that represents a progress billing consisting of an invoice for goods sold or used or services rendered pursuant to a
contract under which the Account Debtor’s obligation to pay that invoice is subject to such Borrower’s completion of further performance under such contract or is subject to the equitable lien of a surety bond issuer in each case set forth
in (a), (b) or (c), to the extent such Account is subject to such condition, inability to bring suit or subject to progress billing or lien; 

  
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 (x) to the extent that any defense, counterclaim, setoff or dispute is
asserted as to such Account, it being understood that the remaining balance of the Account shall be eligible; 

(xi) any Account that is not bona fide indebtedness incurred in the amount of the Account for merchandise sold to or
services rendered and accepted by the applicable Account Debtor; 
 (xii) any Account with respect to which an
invoice or other electronic transmission (reasonably acceptable to the Co-Collateral Agents in form and substance) constituting a request for payment, has not been sent on a timely basis to the applicable Account Debtor according to the normal
invoicing and timing procedures of the applicable Borrower; 
 (xiii) any Account that arises from a sale to any
director, officer, other employee or Affiliate of a Loan Party, or to any entity that has any common officer or director with a Loan Party; 
 (xiv) to the extent a Borrower is liable for goods sold or services rendered by the applicable Account Debtor to a Borrower but only to the extent of the potential offset, except to the extent any waivers
of offset rights, which are in form and substance reasonably satisfactory to the Co-Collateral Agents, are in effect in respect of such Account (including such waivers described in clause (iii) above); 

(xv) any Account that arises with respect to goods that are delivered on a bill-and-hold, cash-on-delivery basis or placed
on consignment, guaranteed sale or other terms by reason of which the payment by the Account Debtor is or may be conditional; 
 (xvi) any Account that is in default; provided that, without limiting the generality of the foregoing, an Account shall be deemed in default upon the occurrence of any of the following: 

(A) any Account not paid within 90 days following its original invoice date; or 

(B) the Account Debtor obligated upon such Account suspends business, makes a general assignment for the benefit of
creditors or fails to pay its debts generally as they come due; or 
 (C) in respect of which a petition is filed
by or against any Account Debtor obligated upon such Account under any bankruptcy law or any other federal, state or foreign (including any provincial) receivership, insolvency relief or other law or laws for the relief of debtors; 

(xvii) any Account that is the obligation of an Account Debtor if 50% or more of the dollar amount of all Accounts owing
by that Account Debtor are ineligible under the other criteria set forth in this Section 2.21(a) (other than clauses (i), (v) and (vi)); 

(xviii) any Account as to which any of the representations or warranties in the Loan Documents in respect of Accounts are
untrue; 

  
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 (xix) to the extent such Account is evidenced by a judgment, Instrument or
Chattel Paper; 
 (xx) to the extent such Account exceeds any credit limit established by the Co-Collateral
Agents, in their reasonable credit judgment exercised in good faith; or 
 (xxi) any Account on which the Account
Debtor is a Governmental Authority, unless (a) if the Account Debtor is the United States of America, any State or political subdivision thereof or any department, agency or instrumentality of the United States of America or any State or
political subdivision thereof, the applicable Borrower has assigned its rights to payment of such Account to the applicable Administrative Agent pursuant to the Assignment of Claims Act of 1940, as amended, in the case of any such federal
Governmental Authority, and pursuant to any requirements of applicable law, if any, in the case of any such other Governmental Authority, and (b) if the Account Debtor is any other Governmental Authority, the applicable Borrower has, if
required by any applicable law, assigned its rights to payment of such Account to the Administrative Agent pursuant to applicable law, if any, and, in each such case where such acceptance and acknowledgment is required by applicable law, such
assignment has been accepted and acknowledged by the appropriate government officers to the extent so required. 
 (b)
Eligible Hydrocarbon Inventory. On any date of determination of the Borrowing Base, all of the hydrocarbon Inventory owned by the Borrowers and reflected in the most recent Borrowing Base Certificate delivered by Administrative Borrower to
the Administrative Agent and Co-Collateral Agents shall be “Eligible Hydrocarbon Inventory” for the purposes of this Agreement, except any hydrocarbon Inventory to which any of the exclusionary criteria set forth below applies. In
addition, the Co-Collateral Agents shall have the right from time to time to establish, modify or eliminate Reserves and Hedging Reserves (without duplication) against hydrocarbon Inventory. Eligible Hydrocarbon Inventory shall not include any
hydrocarbon Inventory that: 
 (i) the Administrative Agent, on behalf of Secured Parties, does not have a
perfected, first priority Lien upon (subject to Permitted Liens); 
 (ii) any Inventory that is not owned by a
Borrower 
 (iii) (a) is stored at a leased location where the aggregate value of hydrocarbon Inventory
exceeds $1,000,000 (unless the Administrative Agent shall have given its prior consent to a higher amount and unless either (x) a reasonably satisfactory Landlord Access Agreement has been delivered to the Co-Collateral Agents, or
(y) Reserves reasonably satisfactory to the Co-Collateral Agents (not to exceed three (3) months of periodic rent) have been established with respect thereto), or (b) is stored with a bailee or warehouseman where the aggregate value
of hydrocarbon Inventory exceeds $1,000,000 unless either (x) a reasonably satisfactory, acknowledged bailee waiver letter has been received by the Co-Collateral Agents or (y) Reserves reasonably satisfactory to the Co-Collateral Agents
(not to exceed three (3) months of periodic rent) have been established with respect thereto, or (c) is stored at a location where the aggregate value of hydrocarbon Inventory is less than $1,000,000; 

(iv) is placed on consignment, unless a valid consignment agreement which is reasonably satisfactory to Administrative
Agent is in place with respect to such hydrocarbon Inventory; 

  
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 (v) is not located in the United States or is in transit outside the United
States; 
 (vi) is covered by a negotiable document of title, unless such document has been delivered to the
Administrative Agent with all necessary endorsements, free and clear of all Liens except those in favor of the Administrative Agent and landlords, carriers, bailees and warehousemen if clause (ii) above has been complied with;

 (vii) is to be returned to suppliers; 

(viii) is obsolete, unsalable, shopworn, damaged or unfit for sale; 

(ix) consists of display items or packing or shipping materials, manufacturing supplies or, with respect to the DCR
Facility and the Paulsboro Facility, work-in-process; 
 (x) is not of a type held for sale in the ordinary
course of a Borrower’s business; 
 (xi) breaches any of the representations or warranties pertaining to
hydrocarbon Inventory set forth in the Loan Documents; 
 (xii) is subject to any licensing arrangement the
effect of which would prohibit or materially restrict Administrative Agent, or any Person selling the hydrocarbon Inventory on behalf of Administrative Agent from selling such hydrocarbon Inventory in enforcement of the Administrative Agent’s
Liens, without further consent or payment (other than ordinary course royalty payments or other similar payments) to the licensor or other Person, unless such consent has been obtained; or 

(xiii) is not covered by casualty insurance maintained as required by Section 5.04. 

For the avoidance of doubt, “Eligible Hydrocarbon Inventory” (A) shall not include Intermediate Products located at the DCR Facility or at
the Paulsboro Facility; (B) shall include Intermediate Products located at the Toledo Facility; and (C) shall not include Certain Hydrocarbon Assets. 
 SECTION 2.22 Accounts; Cash Management. Borrowers and each Subsidiary Guarantor shall, prior to the commencement of the Revolving Availability Period, maintain a cash management system (the
“Cash Management System”), which shall operate as follows: 
 (a) All proceeds of Collateral held by Borrowers
or any other Loan Party (other than funds being collected pursuant to the provisions stated below) shall be deposited in one or more bank accounts, as set forth on Schedule 2.22 or other accounts in form and substance reasonably satisfactory
to Administrative Agent subject to the terms of the Security Agreement and applicable Control Agreements. 
 (b) Borrowers shall
establish and maintain, at their sole expense, and shall cause each Subsidiary Guarantor to establish and maintain, at its sole expense accounts subject to Control Agreements, which, on and after the commencement of the Revolving Availability
Period, shall consist of accounts maintained by the financial institutions as described on Schedule 2.22 hereto (in each case, except for Excluded Deposit Accounts, the “Blocked Accounts”), or with such other banks as are
acceptable to the Administrative Agent into which Borrowers and Subsidiary Guarantors shall promptly deposit and direct their respective Account Debtors to directly remit all payments on Accounts and all payments constituting proceeds of hydrocarbon
Inventory or other Revolving Credit Priority Collateral in 

  
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the identical form in which such payments are made, whether by cash, check or other manner and shall be identified and segregated from all other funds of the Loan Parties. On or prior to the
commencement of the Revolving Availability Period (or such later time as permitted hereunder), Borrowers and Subsidiary Guarantors shall deliver, or cause to be delivered, to the Administrative Agent a Control Agreement duly authorized, executed and
delivered by each bank where a Blocked Account for the benefit of Borrowers or any Subsidiary Guarantor is maintained. Borrowers shall further execute and deliver, and shall cause each Subsidiary Guarantor to execute and deliver, such agreements and
documents as the Administrative Agent may reasonably require in connection with such Blocked Accounts and such Control Agreements. Borrowers and Subsidiary Guarantors shall not establish any deposit accounts after the commencement of the Revolving
Availability Period into which proceeds of Revolving Credit Priority Collateral are deposited, unless the applicable Borrower or Subsidiary Guarantor has complied in full with the provisions of this Section 2.22(b) with respect to such
deposit accounts. Each Borrower agrees that from and after the delivery of an Activation Notice all payments made to such Blocked Accounts or other funds received and collected by the Administrative Agent or any Lender, whether in respect of the
Accounts or as proceeds of hydrocarbon Inventory shall be treated as payments to the Administrative Agent and Lenders in respect of the Obligations and therefore, after giving effect to such payments shall constitute the property of Administrative
Agent and Lenders to the extent of the then outstanding applicable Obligations. 
 (c) The applicable bank at which any Blocked
Accounts are maintained shall agree from and after the receipt of a notice (an “Activation Notice”) from Administrative Agent (which Activation Notice may, or upon instruction of the Required Lenders, as applicable, shall, be given
by Administrative Agent at any time and after the occurrence of a Trigger Event which is continuing at the time of such notice) pursuant to the applicable Control Agreement, to forward, daily, all amounts in each Blocked Account to the account
designated as collection account (the “Collection Account”) which shall be under the exclusive dominion and control of Administrative Agent. 
 (d) From and after the delivery of an Activation Notice, Administrative Agent shall apply all such funds in the Collection Account on a daily basis to the repayment of the Obligations, subject to the
Revolver-Term Loan Intercreditor Agreement, in accordance with Section 8.02. Notwithstanding the foregoing sentence, after payment in full has been made of the amounts required under Subsections 8.02(a) through (d), upon
Borrowers’ request and as long as no Event of Default has occurred and is continuing and all other conditions precedent to a Borrowing have been satisfied, any additional funds deposited in the Collection Account shall be released to Borrowers.

 (e) Subject to the Intercreditor Agreements, Borrowers and their directors, employees, agents and other Affiliates shall
promptly deposit or cause the same to be deposited, any monies, checks, notes, drafts or any other payment relating to and/or proceeds of Accounts or hydrocarbon Inventory or other Revolving Credit Priority Collateral which come into their
possession or under their control in the applicable Blocked Accounts, or remit the same or cause the same to be remitted, in kind, to the Administrative Agent. Borrowers agree to reimburse Administrative Agent on demand for any amounts owed or paid
to any bank at which a Blocked Account is established or any other bank or person involved in the transfer of funds to or from the Blocked Accounts arising out of Administrative Agent’s payments to or indemnification of such bank or person.

 (f) Notwithstanding the foregoing, the parties hereto agree that by no later than forty-five (45) days following the
A&R Effective Date: (i) the Borrowers shall deliver or cause to be delivered to the Administrative Agent a duly executed deposit account control agreement in form and 

  
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substance reasonably satisfactory to the Administrative Agent with respect to all deposit accounts of Toledo other than any Excluded Deposit Accounts; (ii) the Borrowers shall deliver or
cause to be delivered to the Administrative Agent a duly executed securities account control agreement in form and substance reasonably satisfactory to the Administrative Agent with respect to the investment account of Holdings at UBS; and
(iii) the Borrowers shall deliver or cause to be delivered to the Administrative Agent a duly a duly executed securities account control agreement in form and substance reasonably satisfactory to the Administrative Agent with respect to the
investment account of Holdings at Morgan Stanley. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 
 Each Loan Party represents and warrants to the Administrative Agent, the Co-Collateral Agents, the Issuing Bank and each of the Lenders (with references to the Companies being references thereto after
giving effect to the Transactions unless otherwise expressly stated) that: 
 SECTION 3.01 Organization; Powers.

 Each Company (a) is duly organized and validly existing under the laws of the jurisdiction of its organization,
(b) has all requisite power and authority to carry on its business as now conducted and to own and lease its property and (c) is qualified and in good standing (to the extent such concept is applicable in the applicable jurisdiction) to do
business in every jurisdiction where such qualification is required, except in such jurisdictions where the failure to so qualify or be in good standing, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect. There is no existing material default under any Organizational Document of any Company or any event which, with the giving of notice or passage of time or both, would constitute a material default by any Company thereunder.

 SECTION 3.02 Authorization; Enforceability. 

The Transactions to be entered into by each Loan Party are within such Loan Party’s powers and have been duly authorized by all
necessary limited liability company action on the part of such Loan Party. This Agreement has been duly executed and delivered by each Loan Party and constitutes, and each other Loan Document to which any Loan Party is to be a party, when executed
and delivered by such Loan Party, will constitute, a legal, valid and binding obligation of such Loan Party, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 SECTION 3.03 No Conflicts. 
 Except as set forth on Schedule
3.03, the Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect,
(ii) filings necessary to perfect or maintain Liens created by the Loan Documents and (iii) consents, approvals, registrations, filings, permits or actions the failure to obtain or perform which could not reasonably be expected to result
in a Material Adverse Effect, (b) will not violate the Organizational Documents of any Company, (c) will not violate 

  
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any Requirement of Law, except for any such violation which could not reasonably be expected to result in a Material Adverse Effect, (d) will not violate or result in a default or require
any consent or approval under any indenture, agreement or other instrument binding upon any Company or its property, including, without limitation, the DEDA Loan and Security Agreement, the Seller Note Agreements, the Morgan Stanley Off-Take
Agreements or the Oil Supply Agreements, or give rise to a right thereunder to require any payment to be made by any Company, except for violations, defaults or the creation of such rights that could not reasonably be expected to result in a
Material Adverse Effect, and (e) will not result in the creation or imposition of any Lien on any property of any Company, except Liens created by the Loan Documents and Permitted Liens. 

SECTION 3.04 Financial Statements; Projections. 
 (a) Historical Financial Statements. Administrative Borrower has heretofore delivered to the Lenders (i) the audited financial statements of Paulsboro, PBF Investments LLC, PBF Power Marketing
LLC and Paulsboro Natural Gas Pipeline Company LLC as of and for the fiscal years ended December 31, 2007, December 31, 2008 and December 31, 2009, audited by and accompanied by the unqualified opinions of KPMG LLP (with respect
to Paulsboro and Paulsboro Natural Gas Pipeline Company LLC ) and Deloitte & Touche LLP (with respect to PBF Investments LLC and PBF Power Marketing LLC), in each case, independent public accountants, and (ii) audited financial
statements for Holdings as of and for the fiscal years ended December 31, 2008 and December 31, 2009 audited by and accompanied by the unqualified opinion of Deloitte & Touche LLP, independent public accountants and
(iii) projections for Delaware City and Paulsboro as of and for the fiscal quarters ended March 31, 2010 and June 30, 2010 and the fiscal months ended July 31, 2010, August 31, 2010 and September 30, 2010 and for
the comparable periods of the preceding fiscal year, in each case, certified by the chief financial officer of Administrative Borrower. Such financial statements and all financial statements delivered pursuant to Sections 5.01(a),
(b) and (c) have been prepared in accordance with GAAP consistently applied and present fairly and accurately in all material respects the financial condition and results of operations and cash flows of Holdings and its
Subsidiaries as of the dates and for the periods to which they relate, except for, in the case of the statements provided under clause (ii) and statements delivered pursuant to Sections 5.01(b) and (c), the absence of footnote
disclosures and normal year-end adjustments. 
 (b) No Material Adverse Effect. Since December 31, 2009, there has
been no event, change, circumstance or occurrence that, individually or in the aggregate, has had or could reasonably be expected to result in a Material Adverse Effect. 
 (c) Pro Forma Financial Statements. Borrowers have heretofore delivered to the Lenders Holdings unaudited pro forma consolidated balance sheet and statements of income and cash flows and
pro forma EBITDA, substantially in the form of the Sponsor’s financial model previously delivered to Administrative Agent and prepared after giving effect to the Transactions and such other adjustments as if they had occurred on such
date in the case of the balance sheet and as of the beginning of all periods presented in the case of the statements of income and cash flows. Such pro forma financial statements have been prepared in good faith by the Loan Parties, based on
the assumptions stated therein (which assumptions are believed by the Loan Parties as of the time of the preparation thereof to be reasonable), are based on the best information available to the Loan Parties as of the date of delivery thereof,
accurately reflect all adjustments required to be made to give effect to the Transactions, and present fairly in all material respects the pro forma consolidated financial position and results of operations of Holdings as of such date and for
such periods, assuming that the Transactions had occurred at such dates. 

  
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 (d) Forecasts. The forecasts of financial performance of Holdings and its
Subsidiaries furnished to Agents and the Lenders have been prepared in good faith by Borrowers and based on assumptions believed by Borrowers to reasonable at the time of preparation of such forecasts, it being understood that actual results may
differ from such forecasts and such differences may be material. 
 SECTION 3.05 Properties. 

(a) Generally. Each Company has good title to, a license to or valid leasehold interests in, all its property material to its
business, free and clear of all Liens except for, in the case of Collateral, Permitted Liens and, in the case of all other material property, Permitted Liens and minor irregularities or deficiencies in title that, individually or in the aggregate,
do not interfere with its ability to conduct its business as currently conducted or to utilize such property for its intended purpose and except where the failure to have such title or other interest is not reasonably expected to have individually
or in the aggregate, a Material Adverse Effect. The property of the Companies, taken as a whole, (i) is in good operating order, condition and repair (ordinary wear and tear excepted) and (ii) constitutes all the property which is required
for the business and operations of the Companies as presently conducted. 
 (b) Real Property. Schedules 8(a) and
8(b) to the Perfection Certificate contain a true and complete list of each interest in Real Property (i) owned by any Company as of the date hereof and describes the type of interest therein held by such Company and whether such owned
Real Property is leased and if leased whether the underlying Lease contains any option to purchase all or any portion of such Real Property or any interest therein or contains any right of first refusal relating to any sale of such Real Property or
any portion thereof or interest therein and (ii) leased, subleased or otherwise occupied or utilized by any Company, as lessee, sublessee, franchisee or licensee, as of the date hereof and describes the type of interest therein held by such
Company and, in each of the cases described in clauses (i) and (ii) of this Section 3.05(b), whether any Lease requires the consent of the landlord or tenant thereunder, or other party thereto, to the Transactions. 

(c) No Casualty Event. No Company has received any written notice of, nor has any knowledge of, the occurrence or pendency or
contemplation of any Casualty Event affecting all or any portion of its property, which Casualty Event could reasonably be expected to have a Material Adverse Effect. No Mortgage encumbers improved Real Property that is located in an area that has
been identified by the Secretary of Housing and Urban Development as an area having special flood hazards within the meaning of the National Flood Insurance Act of 1968 unless flood insurance available under such Act has been obtained in accordance
with Section 5.04. 
 (d) Collateral. Each Loan Party owns or has rights to use all of the Collateral and all
rights with respect to any of the foregoing used in, necessary for or material to each Company’s business as currently conducted. The use by each Loan Party of such Collateral and all such rights with respect to the foregoing do not infringe on
the rights of any person other than such infringement which could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. No claim has been made and remains outstanding that any Loan Party’s use of
any Collateral does or may violate the rights of any third party that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

  
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 SECTION 3.06 Intellectual Property. 

(a) Ownership/No Claims. Each Loan Party owns, or is licensed to use, all trademarks, trade names, service marks, copyrights,
technology, trade secrets, proprietary information, know-how and processes necessary for the conduct of its business as currently conducted (the “Intellectual Property”), except for those the failure to own or license which,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
 (i)
No claim has been asserted against any Loan Party in writing and is pending by any person challenging or questioning the use of any such Intellectual Property by such Loan Party or the validity or enforceability of any such Intellectual Property
owned by such Loan Party (other than office actions issued in connection with the prosecution of any applications for Intellectual Property), except for such claims that, individually or in the aggregate, could not reasonably be expected to result
in a Material Adverse Effect; and 
 (ii) the use of such Intellectual Property by each Loan Party does not
infringe the rights of any person, except for such infringements in that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

(b) Registrations. Except pursuant to licenses and other agreements entered into by each Loan Party that are listed in Schedule
12(a) or 12(b) to the Perfection Certificate, on and as of the date hereof (i) each Loan Party owns and possesses the right to use, and has not licensed any other person to use, any copyright or trademark (as such terms are defined
in the Security Agreements) listed in Schedule 12(a) or 12(b) to the Perfection Certificate and (ii) all registrations listed in Schedule 12(a) or 12(b) to the Perfection Certificate are in existence. 

(c) No Violations or Proceedings. To each Loan Party’s knowledge, on and as of the date hereof, there is no infringement by
others of any right of such Loan Party with respect to any copyright, patent or trademark listed in Schedule 12(a) or 12(b) to the Perfection Certificate, pledged by it under the name of such Loan Party except as may be set forth on
Schedule 3.06(c), except for such infringements that, individually or in the aggregate could not reasonably be expected to result in a Material Adverse Effect 
 SECTION 3.07 Equity Interests and Subsidiaries. 
 (a) Equity
Interests. Schedules 1(a) and 10(a) to the Perfection Certificate set forth a list of (i) all the Subsidiaries of Holdings and their jurisdictions of organization as of the A&R Effective Date and (ii) the number of
each class of its Equity Interests authorized, and the number outstanding, on the A&R Effective Date and the number of shares covered by all outstanding options, warrants, rights of conversion or purchase and similar rights at the A&R
Effective Date. All Equity Interests of each Subsidiary (other than an Excluded Subsidiary) are duly and validly issued and are fully paid and non-assessable (if applicable), and, other than the Equity Interests of Holdings, are owned by Holdings,
directly or indirectly through Wholly Owned Subsidiaries. All Equity Interests of Delaware City and Paulsboro are owned directly by Holdings. Each Loan Party is the record and beneficial owner of, and has good and marketable title to, the Equity
Interests pledged by it under the Security Agreements, free of any and all Liens, rights or claims of other persons, except the security interest created by the Security Agreements and Permitted Liens, and there are no outstanding warrants, options
or other rights to purchase, or shareholder, voting trust or similar agreements outstanding with respect to, or property that is convertible into, or that requires the issuance or sale of, any such Equity Interests. 

  
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 (b) No Consent of Third Parties Required. Except for any consent which has been
obtained or made and is in full force and effect, no consent of any person including any other general or limited partner, any other member of a limited liability company, any other shareholder or any other trust beneficiary is necessary from the
perspective of a secured party in connection with the creation, perfection or priority (subject to, and as described in, the Intercreditor Agreements) status of the security interest of the Administrative Agent in any Equity Interests pledged to the
Administrative Agent for the benefit of the Secured Parties under the Security Agreements or the exercise by the Administrative Agent of the voting or other rights provided for in the Security Agreements or the exercise of remedies in respect
thereof. 
 SECTION 3.08 Litigation; Compliance with Laws. 

Except as set forth on Schedule 3.08, there are no actions, suits or proceedings at law or in equity by or before any Governmental
Authority now pending or, to the knowledge of any Company, threatened in writing against or affecting any Company or any business, property or rights of any Company (i) that involve any Loan Document or any of the Transactions or (ii) as
to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. Except for matters covered by
Section 3.18, no Company or any of its property is in violation of, nor will the continued operation of its property as currently conducted violate, any Requirements of Law (including any zoning or building ordinance, code or approval or
any building permits) or any restrictions of record or agreements affecting any Company’s Real Property or is in default with respect to any Requirement of Law, where such violation or default, individually or in the aggregate, could reasonably
be expected to result in a Material Adverse Effect. 
 SECTION 3.09 [Reserved]. 

SECTION 3.10 Federal Reserve Regulations. 
 No Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock. No part of the proceeds of any Loan or any
Letter of Credit will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that violates the provisions of Regulation T, U or X. The pledge of the Securities Collateral pursuant to the
Security Documents does not violate such regulations. 
 SECTION 3.11 Investment Company Act. 

No Company is an “investment company” or a company “controlled” by an “investment company,” as defined in,
or is subject to regulation under, the Investment Company Act of 1940, as amended. 
 SECTION 3.12 Use of
Proceeds. 
 Borrowers will use the proceeds of the Revolving Loans and Swingline Loans made during the Revolving
Availability Period: (a) on the A&R Effective Date, to repay in full all amounts then outstanding under and to terminate the Sunoco Working Capital Note; and (b) on the A&R Effective Date and thereafter, for working capital and
general corporate purposes (including providing credit support (i.e. supporting letters of credit or cash collateral) in respect of Commodity Hedging Agreements and payments to counterparties thereunder, entered into consistent with prudent
industry practice). 

  
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 SECTION 3.13 Taxes. 

Each Company has (a) timely filed or caused to be timely filed all federal Tax Returns and all material state, local and foreign Tax
Returns required to have been filed by it and all such Tax Returns are true and correct in all material respects, (b) duly and timely paid, collected or remitted or caused to be duly and timely paid, collected or remitted all Taxes (whether or
not shown on any Tax Return) due and payable, collectible or remittable by it and all assessments received by it, except Taxes (i) that are being contested in good faith by appropriate proceedings and for which such Company has set aside on its
books adequate reserves in accordance with GAAP or (ii) which could not, individually or in the aggregate, have a Material Adverse Effect and (c) satisfied all of its withholding tax obligations except for failures that could not be
reasonably expected to, individually or in the aggregate, result in a Material Adverse Effect. Each Company has made adequate provision in accordance with GAAP for all material Taxes not yet due and payable. Each Company is unaware of any proposed
or pending tax assessments, deficiencies or audits that could be reasonably expected to, individually or in the aggregate, result in a Material Adverse Effect. Except as could not be reasonably expected to, individually or in the aggregate, result
in a Material Adverse Effect, no Company has ever “participated” in a “listed transaction” within the meaning of Treasury Regulation Section 1.6011-4. 
 SECTION 3.14 No Material Misstatements. 
 No written information,
report, financial statement, certificate, Borrowing Request, LC Request, exhibit or schedule furnished by or on behalf of any Company to the Administrative Agent or any Lender in connection with the negotiation of any Loan Document or included
therein or delivered pursuant thereto, taken as a whole, contained or contains any material misstatement of fact or omitted or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which
they were or are made, not misleading in any material respect as of the date such information is dated or certified; provided that to the extent any such written information, report, financial statement, exhibit or schedule was based upon or
constitutes a forecast or projection (including pro forma financial information), each Company represents only that it acted in good faith and utilized assumptions believed to be reasonable at the time of such preparation and due care in the
preparation of such information, report, financial statement, exhibit or schedule, it being understood that such projections or forecasts may vary from actual results and that such variances may be material. 

SECTION 3.15 Labor Matters. 
 As of the Closing Date, there are no strikes, lockouts or slowdowns against any Company pending or, to the knowledge of any Company, threatened. The hours worked by and payments made to employees of any
Company have not been in violation of the Fair Labor Standards Act of 1938, as amended, or any other applicable federal, state, local or foreign law dealing with such matters in any manner which could reasonably be expected to result in a Material
Adverse Effect. All payments due from any Company, or for which any claim may be made against any Company, on account of wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability on the books of
such Company except where the failure to do so could not reasonably be expected to result in a Material Adverse Effect. The consummation of the Transactions will not give rise to any right of termination or right of renegotiation on the part of any
union under any collective bargaining agreement to which any Company is bound. 

  
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 SECTION 3.16 Solvency. 

Immediately after the consummation of the Transactions to occur on the A&R Effective Date and immediately following the making of
each Loan and after giving effect to the application of the proceeds of each Loan, (a) the sum of the present fair saleable value of the assets of the Loan Parties on a consolidated basis, on a going concern basis, is greater than the total
amount of liabilities (including contingent and unliquidated liabilities) of the Loan Parties on a consolidated basis as they become absolute and matured, the amount of contingent or unliquidated liabilities having been computed at an amount that,
in light of all of the facts and circumstances existing at the A&R Effective Date, represents the amount that can reasonably be expected to become an actual or matured liability; (b) the Loan Parties do not, on a consolidated basis, have
unreasonably small capital in relation to their business; and (c) the Loan Parties, on a consolidated basis, have not incurred, do not intend to incur, and do not believe they will incur, debts beyond their ability to pay such debts as such
debts mature in the ordinary course of business. 
 SECTION 3.17 Employee Benefit Plans. 

(a) Except as could not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect, (i) each
Company and its ERISA Affiliates is in compliance with the applicable provisions of ERISA and the Code and the regulations and published interpretations thereunder; (ii) no ERISA Event has occurred or is reasonably expected to occur that, when
taken together with all other such ERISA Events, could reasonably be expected to result in any liability of any Company or the imposition of a Lien on any of the property of any Company; (iii) the present value of all accumulated benefit
obligations (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) of each Plan did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of
the property of such Plan; (iv) and using actuarial assumptions and computation methods consistent with subpart I of subtitle E of Title IV of ERISA, no Company would have liability to any Multiemployer Plan in the event of a complete
withdrawal therefrom, as of the close of the most recent fiscal year of such Multiemployer Plan. 
 (b) Except as could not
reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect, and to the extent applicable, (i) each Foreign Plan has been maintained in substantial compliance with its terms and with the requirements of any
and all applicable Requirements of Law and has been maintained, where required, in good standing with applicable regulatory authorities; (ii) no Company has incurred any material obligation in connection with the termination of or withdrawal
from any Foreign Plan; (iii) the present value of the accrued benefit liabilities (whether or not vested) under each Foreign Plan which is funded, determined as of the end of the most recently ended fiscal year of the respective Company on the
basis of actuarial assumptions, each of which is reasonable, did not exceed the current value of the property of such Foreign Plan; and (iv) for each Foreign Plan which is not funded, the obligations of such Foreign Plan are properly accrued.

  
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 SECTION 3.18 Environmental Matters. 

(a) Except as set forth in Schedule 3.18 or except in the event of (i) through (v) below, inclusive, as,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect: 
 (i)
The Companies and their businesses, operations and Real Property are in compliance with, and the Companies have no liability under, any applicable Environmental Law; and under the currently effective business plan of the Companies, no expenditures
or operational adjustments will be required in order to comply with applicable Environmental Laws during the next five years; 
 (ii) The Companies have obtained all Environmental Permits required for the conduct of their businesses and operations, and the ownership, operation and use of their property, under Environmental Law, all
such Environmental Permits are valid and in good standing and, under the currently effective business plan of the Companies, no expenditures or operational adjustments which are not provided for in such business plan will be required in order to
renew or modify such Environmental Permits during the next five years; 
 (iii) There has been no Release or
threatened Release of Hazardous Material on, at, under or from any Real Property or facility presently or formerly owned, leased or operated by the Companies or their predecessors in interest that could result in liability by the Companies under any
applicable Environmental Law; 
 (iv) There is no Environmental Claim pending or, to the knowledge of the
Companies, threatened against the Companies, or relating to the Real Property currently or formerly owned, leased or operated by the Companies or their predecessors in interest or relating to the operations of the Companies, and there are no
actions, activities, circumstances, conditions, events or incidents that could form the basis of such an Environmental Claim; and 
 (v) No Person with an indemnity or contribution obligation to the Companies relating to compliance with or liability under Environmental Law is in default with respect to such obligation. 

(b) Except as set forth in Schedule 3.18 or except, in the case of (i) through (v) below, inclusive, as individually or
in the aggregate, could not reasonably be expected to result in a Material Adverse Effect: 
 (i) No Company is
obligated to perform any action or otherwise incur any expense under Environmental Law pursuant to any order, decree, judgment or agreement by which it is bound or has assumed by contract, agreement or operation of law, and no Company is conducting
or financing any Response pursuant to any Environmental Law with respect to any Real Property or any other location; 
 (ii) No Real Property or facility owned, operated or leased by the Companies and, to the knowledge of the Companies, no Real Property or facility formerly owned, operated or leased by the Companies or any
of their predecessors in interest is (i) listed or proposed for listing on the National Priorities List promulgated pursuant to CERCLA or (ii) listed on the Comprehensive Environmental Response, Compensation and Liability Information
System promulgated pursuant to CERCLA or (iii) included on any similar list maintained by any Governmental Authority including any such list relating to petroleum; 

(iii) No Lien has been recorded or, to the knowledge of any Company, threatened under any Environmental Law with respect
to any Real Property or other assets of the Companies; 

  
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 (iv) The execution, delivery and performance of this Agreement and the
consummation of the transactions contemplated hereby will not require any notification, registration, filing, reporting, disclosure, investigation, remediation or cleanup pursuant to any Governmental Real Property Disclosure Requirements or any
other applicable Environmental Law; and 
 (v) The Companies have made available to the Lenders all material
records and files in the possession, custody or control of, or otherwise reasonably available to, the Companies concerning compliance with or liability under Environmental Law, including those concerning the actual or suspected existence of
Hazardous Material at Real Property or facilities currently or formerly owned, operated, leased or used by the Companies. 

SECTION 3.19 Insurance. 
 Schedule 3.19 sets forth a true, complete and correct description of all insurance maintained by each Company as of the A&R Effective Date. All insurance maintained by the Companies is in full
force and effect, all premiums have been duly paid, no Company has received notice of any material violation or cancellation thereof, the Premises, and the use, occupancy and operation thereof, comply in all material respects with all Insurance
Requirements, and there exists no material default under any Insurance Requirement. Each Company has insurance in such amounts and covering such risks and liabilities as are customary for companies of a similar size engaged in similar businesses in
similar locations. 
 SECTION 3.20 Security Documents. 

(a) Security Agreements. The Security Agreements are effective to create in favor of the Administrative Agent for the benefit of
the Secured Parties, legal, valid and enforceable (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law) Liens on, and security interests in, the Security Agreement Collateral to the extent that a legal, valid and enforceable Lien in such Security Agreement Collateral may be
created under any applicable law of the United States or any state thereof , including, without limitation, the applicable UCC and, except as set forth in clauses (b) and (c) of this Section 3.20(a), when (i) financing
statements and other filings in appropriate form are filed in the offices specified on Schedule 7 to the Perfection Certificate with payment of any associated filing fee and (ii) upon the taking of possession or control by the
Administrative Agent of the Security Agreement 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 each Security Agreement), the Liens created by the Security Agreements shall constitute fully perfected Liens on, and security interests in, all right, title and interest of the grantors in the
Security Agreement Collateral (other than such Security Agreement Collateral in which a security interest cannot be perfected under the UCC as in effect at the relevant time in the relevant jurisdiction), in each case subject to no Liens other than
Permitted Liens. 
 (b) PTO Filing; Copyright Office Filing. When each Security Agreement or a short form thereof is
filed along with payment of any associated filing fee in the United States Patent and Trademark Office and the United States Copyright Office and the applicable UCC filings are made along with payment of any associated filing fee, the Liens created
by such Security Agreement shall constitute fully perfected Liens on, and security interests in, all right, title and interest of the grantors thereunder in Patents (as defined in the Security Agreement) that constitute the Security Agreement
Collateral and are 

  
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owned by any Loan Party and issued or applied for with the United States Patent and Trademark Office or Copyrights (as defined in such Security Agreement) that constitute the Security Agreement
Collateral and are owned by any Loan Party and registered or applied for with the United States Copyright Office, as the case may be, in each case subject to no Liens other than Permitted Liens. For the avoidance of doubt, no filings in connection
with any intellectual property (including Intellectual Property) other than filings with the United States Patent and Trademark Office and the United States Copyright Office are required. 

(c) Mortgages. Each Mortgage is effective to create, in favor of the Administrative Agent, for its benefit and the benefit of the
Secured Parties, legal, valid and enforceable first priority Liens on, and security interests in, all of the Loan Parties’ right, title and interest in and to the Mortgaged Properties thereunder and the proceeds thereof, subject only to
Permitted Liens or other Liens acceptable to the Administrative Agent, and when the Mortgages are filed in the offices specified on Schedule 8(a) to the Perfection Certificate (or, in the case of any Mortgage executed and delivered after the
date thereof in accordance with the provisions of Sections 5.10 and 5.11, when such Mortgage is filed in the offices specified in the local counsel opinion delivered with respect thereto in accordance with the provisions of Sections
5.10 and 5.11) along with the payment of any associated filing fee, the Mortgages shall constitute fully perfected Liens on, and security interests in, all right, title and interest of the Loan Parties in the Mortgaged Properties and the
proceeds thereof, in each case prior and superior in right to any other person, other than Permitted Liens and Liens permitted by such Mortgage. 
 (d) Valid Liens. Each Security Document delivered pursuant to Sections 5.10 and 5.11 will, upon execution and delivery thereof, be effective to create in favor of the Administrative
Agent, for the benefit of the Secured Parties, legal, valid and enforceable (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law) Liens on, and security interests in, all of the Loan Parties’ right, title and interest in and to the Collateral thereunder, to the
extent that a legal, valid and enforceable Lien in such Collateral may be created under any applicable law of the United States or any state thereof , including, without limitation, the applicable UCC, and (i) when all appropriate filings or
recordings are made in the appropriate offices as may be required under applicable law and (ii) upon the taking of possession or control by the Administrative Agent of such 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 required by any Security Document), such Security Document will constitute fully perfected Liens on, and security interests in, all
right, title and interest of the Loan Parties in such Collateral (other than such Collateral in which a security interest cannot be perfected under the UCC as in effect at the relevant time in the relevant jurisdiction), in each case subject to no
Liens other than the applicable Permitted Liens. 
 SECTION 3.21 Anti-Terrorism Laws. 

(a) No Loan Party, none of its Subsidiaries and, to the knowledge of each Loan Party, none of its Affiliates and none of the respective
officers, directors, brokers or agents of such Loan Party, such Subsidiary or Affiliate (i) has violated or is in violation of Anti-Terrorism Laws or (ii) has engaged or engages in any transaction, investment, undertaking or activity that
conceals the identity, source or destination of the proceeds from any category of offenses designated in the “Forty Recommendations” and “Nine Special Recommendations” published by the Organisation for Economic Co-operation and
Development’s Financial Action Task Force on Money Laundering. 

  
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 (b) No Loan Party, none of its Subsidiaries and, to the knowledge of each Loan Party, none
of its Affiliates and none of the respective officers, directors, brokers or agents of such Loan Party, such Subsidiary or such Affiliate is acting or benefiting in any capacity in connection with the Loans is an Embargoed Person. 

(c) No Loan Party, none of its Subsidiaries and, to the knowledge of each Loan Party, none of its Affiliates and none of the respective
officers, directors, brokers or agents of such Loan Party, such Subsidiary or such Affiliate acting or benefiting in any capacity in connection with the Loans (i) conducts any business or engages in making or receiving any contribution of
funds, goods or services to or for the benefit of any Embargoed Person, (ii) deals in, or otherwise engages in any transaction related to, any property or interests in property blocked pursuant to any Anti-Terrorism Law or (iii) engages in
or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law. 

SECTION 3.22 Location of Material Inventory. 
 Schedule 3.22 sets forth, as of the A&R Effective Date, all locations in the United States where the aggregate value of hydrocarbon Inventory owned by the Borrowers exceeds $1,000,000.

 SECTION 3.23 Accuracy of Borrowing Base. 

At the time any Borrowing Base Certificate is delivered pursuant to this Agreement, each Account and each item of hydrocarbon Inventory
included in the calculation of the Borrowing Base satisfies all of the criteria to be an Eligible Account and an item of Eligible Hydrocarbon Inventory, respectively. 
 ARTICLE IV 
 CONDITIONS TO CREDIT EXTENSIONS 

SECTION 4.01 Conditions to Closing. 
 This Agreement shall become effective, subject to satisfaction or waiver of the following conditions: 
 (a) Loan Documents. All legal matters incident to this Agreement and the other Loan Documents shall be satisfactory to the Lenders, to the Issuing Bank and to the Administrative Agent and there
shall have been delivered to the Administrative Agent: (i) with respect to each applicable Loan Party other than Toledo, an executed counterpart of (A) a reaffirmation of each Existing Security Document, and (B) each other applicable
Loan Document; and (ii) with respect to Toledo, (A) each Toledo Security Document, (B) each other applicable Loan Document and (C) a Perfection Certificate. 

(b) Corporate Documents. The Administrative Agent shall have received: 

(i) a certificate of the secretary or assistant secretary of each Loan Party dated the A&R Effective Date, certifying
(A) that attached thereto is a true and complete copy of each Organizational Document of such Loan Party certified (to the extent applicable) as of a recent date by the Secretary of State of the state of its organization, (B) that attached
thereto is a true and complete copy of resolutions duly adopted by the Board of Directors of such Loan Party authorizing 

  
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the execution, delivery and performance of the Loan Documents to which such person is a party and the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended
and are in full force and effect and (C) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection herewith on behalf of such Loan Party (together with a certificate of
another officer as to the incumbency and specimen signature of the secretary or assistant secretary executing the certificate in this clause (i)); and 
 (ii) a certificate as to the good standing of each Loan Party (in so-called “long-form” if available) as of a recent date, from such Secretary of State (or other applicable Governmental
Authority); and 
 (c) Opinion of Counsel. The Administrative Agent shall have received, on behalf of itself, the other
Agents, the Joint Lead Arrangers, the Lenders and the Issuing Bank, a favorable written opinion of Kirkland & Ellis LLP, special counsel for the Loan Parties (i) dated the A&R Effective Date, (ii) addressed to the Agents, the
Issuing Bank and the Lenders and (iii) covering the matters set forth in Exhibit N and such other matters relating to the Loan Documents as the Administrative Agent shall reasonably request. 

(d) Solvency Certificate. The Administrative Agent shall have received a solvency certificate in the form of Exhibit O,
dated the A&R Effective Date and signed by the chief financial officer or chief executive officer of Borrowers. 
 (e)
Fees. The Joint Lead Arrangers and Administrative Agent shall have received all Fees and other amounts due and payable on or prior to the A&R Effective Date, including, to the extent invoiced, reimbursement or payment of all reasonable
out-of-pocket expenses (including the reasonable and documented out-of-pocket legal fees and expenses of Winston & Strawn LLP, special counsel to the Administrative Agent, and the reasonable and documented out-of-pocket fees and expenses of
any local counsel, foreign counsel, appraisers, consultants and other advisors) required to be reimbursed or paid by Borrowers hereunder or under any other Loan Document. 
 (f) Personal Property Requirements. The Administrative Agent shall have received (subject to Section 5.13(b)): 

(i) (A) satisfactory evidence that all certificates, agreements or instruments representing or evidencing the
Existing Securities Collateral (to the extent that any exist) accompanied by instruments of transfer and stock powers undated and endorsed in blank have been delivered to the Term Loan Administrative Agent or Seller Note Lender, as applicable (each
of whom shall act as bailee for the Administrative Agent) and (B) all certificates, agreements or instruments representing or evidencing the Toledo Securities Collateral accompanied by instruments of transfer and stock powers undated and
endorsed in blank in connection with the first priority pledge by Holdings in favor of the Administrative Agent for the benefit of the Secured Parties on all Stock of Toledo pursuant to the Toledo Pledge Agreement; 

(ii) solely with respect to Toledo, UCC financing statements in appropriate form for filing under the UCC and agreements
in the appropriate form for filings with the United States Patent and Trademark Office and United States Copyright Office and such other documents under applicable domestic Requirements of Law in each domestic jurisdiction as may be necessary or
appropriate, in the reasonable opinion of the Administrative Agent, to perfect the Liens created, or purported to be created, by the Security Documents; 

  
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 (iii) solely with respect to Toledo, certified copies of UCC, United States
Patent and Trademark Office and United States Copyright Office, tax and judgment lien searches, bankruptcy and pending lawsuit searches or equivalent reports or searches, each of a recent date listing all effective financing statements, lien notices
or comparable documents that name Toledo as debtor and that are filed in those state and county jurisdictions in which Toledo is organized or maintains its principal place of business and such other searches that are required by the Perfection
Certificate with respect to Toledo or that the Administrative Agent deems necessary or appropriate, none of which encumber the Collateral covered or intended to be covered by the Security Documents (other than Permitted Liens or any other Liens
acceptable to the Administrative Agent); and 
 (iv) solely with respect to Toledo, evidence acceptable to the
Administrative Agent of payment or arrangements for payment by Toledo of all applicable recording taxes, fees, charges, costs and expenses required for the recording of the Security Documents. 

(g) USA PATRIOT Act. The Lenders and the Administrative Agent shall have timely received the information, solely with respect to
Toledo, required under Section 10.13. 
 (h) DCR Facility. Since September 24, 2010, there shall have
occurred no damage, destruction or condemnation of all or substantially all of the DCR Facility, unless adequately covered by insurance or condemnation proceeds. 
 (i) Morgan Stanley-Toledo Oil Supply Agreement. The duly executed Morgan Stanley-Toledo Oil Supply Agreement shall be delivered to Administrative Agent in form and substance reasonably satisfactory
to Administrative Agent. 
 (j) Consent and Amendment to Term Loan Credit Agreement. The Administrative Agent shall have
received a duly executed consent and amendment with respect to the Term Loan Credit Agreement in form and substance reasonably satisfactory to Administrative Agent. 
 (k) Sunoco Seller Note Intercreditor Agreement. The Administrative Agent shall have received a duly executed version of the Sunoco Seller Note Intercreditor Agreement in form and substance
reasonably satisfactory to Administrative Agent. 
 (l) Toledo-MSCG Intercreditor Agreement. The Administrative Agent
shall have received a duly executed version of the Toledo-MSCG Intercreditor Agreement in form and substance reasonably satisfactory to Administrative Agent. 
 (m) Revolver-Term Loan Intercreditor Agreement Amendment. The Administrative Agent shall have received a duly executed version of the Revolver-Term Loan Intercreditor Agreement Amendment.

 (n) DEDA Intercreditor Agreement Amendment. The Administrative Agent shall have received a duly executed version of
the DEDA Intercreditor Agreement Amendment. 

  
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 (o) Payoff and Termination of Sunoco Working Capital Note. The Administrative Agent
shall have received a duly executed payoff letter with respect to the Sunoco Working Capital Note in form and substance reasonably satisfactory to the Administrative Agent together with any other documents or materials reasonably requested by the
Administrative Agent evidencing the repayment in full of the Sunoco Working Capital Note and the termination of all Liens in favor of Sunoco, Inc. (R&M) in connection therewith. 

(p) Officers’ Certificate. The Administrative Agent shall have received a certificate, dated the A&R Effective Date and
signed by the chief executive officer and the chief financial officer of Administrative Borrower, confirming compliance with the conditions precedent set forth in this Section 4.01. 

SECTION 4.02 Conditions to Initial Credit Extension. 

The obligation of each Lender and, if applicable, each Issuing Bank to fund the initial Credit Extension on and after the commencement of
the Revolving Availability Period requested to be made by it shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 4.02: 

(a) Officers’ Certificate. The Administrative Agent shall have received a certificate, dated the date of the initial Credit
Extension and signed by the chief executive officer and the chief financial officer of Administrative Borrower, confirming compliance with the conditions precedent set forth in this Section 4.02 and Sections 4.03(b),
(d) and (e). 
 (b) Minimum Liquidity. The Borrowers shall have demonstrated to the reasonable
satisfaction of the Administrative Agent that, after giving effect to the Transactions, including, without limitation, the payment and repayment in full of the Sunoco Working Capital Note, the sum of (i) Excess Availability plus
(ii) (without double counting any cash and Cash Equivalents included in the Borrowing Base pursuant to clause (d) of the definition of “Borrowing Base”) cash and Cash Equivalents of the Borrowers exceeds $100,000,000. 

(c) KPMG Borrowing Base Review. Administrative Agent shall have received KPMG’s calculation of the Borrowers’ Borrowing
Base. 
 SECTION 4.03 Conditions to All Credit Extensions. 

The obligation of each Lender and each Issuing Bank to make any Credit Extension (including the initial Credit Extension) shall be
subject to, and to the satisfaction of, each of the conditions precedent set forth below. 
 (a) Notice.
The Administrative Agent shall have received a Borrowing Request as required by Section 2.03 (or such notice shall have been deemed given in accordance with Section 2.03) if Loans are being requested or, in the case of the
issuance, amendment, extension or renewal of a Letter of Credit, the Issuing Bank and the Administrative Agent shall have received an LC Request as required by Section 2.18(b) or, in the case of the Borrowing of a Swingline Loan, the
Swingline Lender and the Administrative Agent shall have received a Borrowing Request as required by Section 2.17(b). 
 (b) No Default. No Default shall have occurred and be continuing on such date. 

  
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 (c) Representations and Warranties. Each of the representations and
warranties made by any Loan Party set forth in Article III hereof or in any other Loan Document shall be true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or
“Material Adverse Effect” shall be true and correct in all respects) on and as of the date of such Credit Extension with the same effect as though made on and as of such date, except to the extent such representations and warranties
expressly relate to an earlier date; provided, however, that this condition shall not apply to any request for the amendment of a Letter of Credit for purposes of decreasing its face amount. 

(d) Borrowing Base. After giving effect to such Credit Extension the sum of the total Revolving Exposures shall not
exceed the lesser of (A) the total Revolving Commitments and (B) the Borrowing Base then in effect. 

(e) No Legal Bar. No order, judgment or decree of any Governmental Authority shall purport to restrain any Lender
from making any Loans to be made by it. No injunction or other restraining order shall have been issued with respect to any action, suit or proceeding seeking to enjoin or otherwise prevent the consummation of, or to recover any damages or obtain
relief as a result of, the transactions contemplated by this Agreement or the making of Loans hereunder. 
 (f)
USA PATRIOT Act. With respect to Letters of Credit issued for the account of a Subsidiary only, the Lenders and the Administrative Agent shall have timely received the information required under Section 10.13. 

Each of the delivery of a Borrowing Request or an LC Request and the acceptance by Borrowers of the proceeds of such Credit Extension
shall constitute a representation and warranty by Borrowers and each other Loan Party that on the date of such Credit Extension (both immediately before and after giving effect to such Credit Extension and the application of the proceeds thereof)
the conditions contained in Sections 4.03(b)-(e) have been satisfied. 
 SECTION 4.04 Conditions to Initial
Credit Extension to an Eligible Subsidiary. 
 The obligation of each Lender and each Issuing Bank to make the initial
Credit Extension to an Eligible Subsidiary shall be subject to, and to the satisfaction of, each of the conditions precedent set forth below and thereupon, such Eligible Subsidiary shall become a “Borrower” for purposes of this Agreement
and the Loan Documents. For the avoidance of doubt, the conditions with respect to Credit Extensions to Toledo shall be governed by Sections 4.01, 4.02 and 4.03 and not by this Section 4.04. 

(a) Opinion of Counsel. The Administrative Agent shall have received, on behalf of itself, the other Agents, the
Joint Lead Arrangers, the Lenders and the Issuing Bank, a favorable written opinion of (i) a special counsel for such Eligible Subsidiary reasonably acceptable to Administrative Agent (it being acknowledged and agreed that Kirkland &
Ellis LLP shall be reasonably acceptable to Administrative Agent), (A) dated the date of the proposed initial Credit Extension to such Eligible Subsidiary (each, an “Initial Borrowing Date”), (B) addressed to the Agents,
the Issuing Bank and the Lenders and (C) covering the matters set forth in Exhibit 4.01(e) and such other matters relating to the Loan Documents as the Administrative Agent shall reasonably request. 

  
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 (b) Corporate Documents. The Administrative Agent shall have
received: 
 (i) a certificate of the secretary or assistant secretary of such Eligible Subsidiary dated the
Initial Borrowing Date, certifying (A) that attached thereto is a true and complete copy of each Organizational Document of such Eligible Subsidiary certified (to the extent applicable) as of a recent date by the Secretary of State of the state
of its organization, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors of such Eligible Subsidiary authorizing the execution, delivery and performance of the Loan Documents to which such
person is a party and the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended and are in full force and effect and (C) as to the incumbency and specimen signature of each officer executing any Loan
Document or any other document delivered in connection herewith on behalf of such Eligible Subsidiary (together with a certificate of another officer as to the incumbency and specimen signature of the secretary or assistant secretary executing the
certificate in this clause (i)); 
 (ii) a certificate as to the good standing of such Eligible Subsidiary
(in so-called “long-form” if available) as of a recent date, from such Secretary of State (or other applicable Governmental Authority); and 
 (iii) such other documents as the Lenders, the Issuing Bank or the Administrative Agent may reasonably request. 
 (c) USA PATRIOT Act. The Lenders and the Administrative Agent shall have timely received the information required under Section 10.13. 

(d) To the extent that such Eligible Subsidiary was not a Loan Party prior to becoming a Borrower under this Agreement,
the conditions of Sections 4.01(h) and (i), Section 4.02(c) and Section 5.10 shall have been satisfied with respect to such Eligible Subsidiary. 

ARTICLE V 

AFFIRMATIVE COVENANTS 
 Each Loan Party covenants and agrees that so long as this Agreement shall remain in effect and until the Commitments have been terminated and the principal of and interest on each Loan, all Fees and all
other expenses or amounts payable under any Loan Document shall have been paid in full (other than Unasserted Contingent Obligations) and all Letters of Credit have been canceled or have expired and all amounts drawn thereunder have been reimbursed
in full (or been cash collateralized or back-stopped in a manner reasonably satisfactory to the Administrative Agent and the Issuing Bank), unless the Required Lenders shall otherwise consent in writing, each Loan Party will, and will cause each of
its Subsidiaries (other than Excluded Subsidiaries) to: 

  
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 SECTION 5.01 Financial Statements, Reports, etc. 

Furnish to the Administrative Agent for prompt distribution to each Lender: 

(a) Annual Reports. As soon as available and in any event (1) by no later than June 14, 2011 (or such
earlier date on which Holdings is required to file a Form 10-K under the Exchange Act) with respect to the fiscal year ended December 31, 2010 and (2) within 120 days after the end of each fiscal year thereafter (or such earlier date on
which Holdings is required to file a Form 10-K under the Exchange Act): (i) the consolidated balance sheet of Holdings as of the end of such fiscal year and related consolidated statements of income, cash flows and stockholders’ equity for
such fiscal year, in comparative form with such financial statements as of the end of, and for, the preceding fiscal year, and notes thereto (including a note with a consolidating balance sheet and statements of income and cash flows separating out
Holdings, the other Borrowers and their respective Subsidiaries), accompanied by an opinion of Deloitte & Touche LLP or other independent public accountants of recognized national standing reasonably satisfactory to the Administrative Agent
(which opinion shall not be qualified as to scope or contain any going concern or other qualification, other than any going concern or other qualification with respect to the regularly scheduled maturity date of the Revolving Commitments), stating
that such financial statements fairly present, in all material respects, the consolidated financial condition, results of operations and cash flows of Holdings as of the dates and for the periods specified in accordance with GAAP consistently
applied; (ii) a management report in a form reasonably satisfactory to the Administrative Agent setting forth (A) statement of income items and Consolidated EBITDA of Holdings for such fiscal year, showing variance, by dollar amount and
percentage, from amounts for the previous fiscal year and budgeted amounts and (B) key operational information and statistics for such fiscal year consistent with internal and industry-wide reporting standards; and (iii) a narrative report
and management’s discussion and analysis, in a form reasonably satisfactory to the Administrative Agent, of the financial condition and results of operations of Holdings for such fiscal year, as compared to amounts for the previous fiscal year
and budgeted amounts (it being understood that the information required by clause (i) may be furnished in the form of a Form 10-K); 
 (b) Quarterly Reports. As soon as available and in any event within 45 days (or such earlier date on which Holdings is required to file a Form 10-Q under the Exchange Act) after the end of each of
the first three fiscal quarters of each fiscal year, beginning with the fiscal quarter ending March 31, 2011, (i) the consolidated balance sheet of Holdings as of the end of such fiscal quarter and related consolidated statements of income
and cash flows for such fiscal quarter and for the then elapsed portion of the fiscal year, in comparative form with the consolidated statements of income and cash flows for the comparable periods in the previous fiscal year (provided that with
respect to any fiscal quarter that ends on or prior to December 17, 2011, the foregoing requirement that such financial statements be presented in comparative form shall only apply to the extent financial statements of Holdings or Paulsboro
exist for such comparable periods in the previous fiscal year), and notes thereto (including a note with a consolidating balance sheet and statements of income and cash flows separating out Holdings, the other Borrowers and their respective
Subsidiaries), and accompanied by a certificate of a Financial Officer stating that such financial statements fairly present, in all material respects, the consolidated financial condition, results of operations and cash flows of Holdings as of the
date and for the periods specified therein in accordance with GAAP consistently applied, and on a basis consistent with audited financial statements referred to in clause (a) of this Section, subject to normal year-end audit adjustments
and the absence of footnote disclosures and (ii) a narrative report and management’s discussion and analysis, in a form reasonably satisfactory to the Administrative Agent, of the financial condition and results of operations for such
fiscal quarter and the then elapsed portion of the fiscal year, as compared to the comparable periods in the previous fiscal year and budgeted amounts (it being understood that the information required by clause (i) may be furnished in
the form of a Form 10-Q); 

  
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 (c) Monthly Reports. Within 30 days after the end of each of the
first two months of each fiscal quarter, beginning with January, 2010, the consolidated balance sheet of Holdings as of the end of each such month and the related consolidated statements of income and cash flows of Holdings for such month and for
the then elapsed portion of the fiscal year, accompanied by a certificate of a Financial Officer stating that such financial statements fairly present, in all material respects, the consolidated results of operations and cash flows of Holdings as of
the date and for the periods specified therein in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnote disclosures; 

(d) Financial Officer’s Certificate. Concurrently with any delivery of financial statements under
Section 5.01(a), (b) or (c), a Compliance Certificate certifying that no Default has occurred or, if such a Default has occurred, specifying the nature and extent thereof and any corrective action taken or proposed to
be taken with respect thereto; 
 (e) Financial Officer’s Certificate Regarding Collateral.
Concurrently with any delivery of financial statements under Section 5.01(a), a certificate of a Financial Officer setting forth the information required pursuant to the Perfection Certificate Supplement or confirming that there has been
no change in such information since the date of the Perfection Certificate or latest Perfection Certificate Supplement; 
 (f) Public Reports. (i) Promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed by any Company with the
Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national securities exchange, or (ii) promptly after the furnishing thereof, copies of any material
reports or notices distributed to holders of its Indebtedness under the Term Loan Credit Agreement and the Seller Note Agreements pursuant to the terms of the documentation governing such Indebtedness (or any trustee, agent or other representative
therefor), as the case may be; 
 (g) Management Letters. Promptly after the receipt thereof by any
Company, a copy of any “management letter” received by any such person from its certified public accountants and the management’s responses thereto; 

(h) Budgets. Within 90 days after the beginning of each fiscal year, a budget for Holdings in form reasonably
satisfactory to the Administrative Agent, but to include balance sheets, statements of income and sources and uses of cash, for each month of such fiscal year prepared in detail with appropriate presentation and discussion of the principal
assumptions upon which such budgets are based, accompanied by the statement of a Financial Officer of Holdings to the effect that the budget of Holdings is a reasonable estimate for the periods covered thereby and have been prepared in good faith on
the basis of assumptions stated therein, which such assumptions were believed to be reasonable at the time of preparation of such budget, it being understood that actual results may vary from the budget and such variances may be material;

 (i) Organization. Concurrently with any delivery of financial statements under
Section 5.01(a), an accurate organizational chart as required by Section 3.07(c), or confirmation that there are no changes to Schedule 10(a) to the Perfection Certificate; 

  
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 (j) Organizational Documents. Promptly provide copies of any
Organizational Documents that have been amended or modified in accordance with the terms hereof and deliver a copy of any notice of default given or received by any Company under any Organizational Document within 15 days after such Company gives or
receives such notice; and 
 (k) Other Information. Promptly, from time to time, such other information
regarding the operations, business affairs and financial condition of any Company, or compliance with the terms of any Loan Document, as the Administrative Agent or any Lender may reasonably request. 

SECTION 5.02 Litigation and Other Notices. 
 Furnish to the Administrative Agent written notice of the following promptly (and, in any event, within five (5) Business Days of the occurrence thereof): 

(a) any Default, specifying the nature and extent thereof and the corrective action (if any) taken or proposed to be taken
with respect thereto; 
 (b) the filing or commencement of, or any written threat or notice of intention of any
person to file or commence, any action, suit, litigation or proceeding, whether at law or in equity by or before any Governmental Authority, (i) against any Company or any Subsidiary that could reasonably be expected to result in a Material
Adverse Effect or (ii) with respect to any Loan Document; 
 (c) any development that has resulted in, or
could reasonably be expected to result in a Material Adverse Effect; and 
 (d) the occurrence of a Casualty
Event (i) to any portion of Revolving Credit Priority Collateral in excess of $7,500,000 or (ii) to any portion of Collateral of any type whatsoever in excess of $15,000,000. 

SECTION 5.03 Existence; Businesses and Properties. 

(a) Do or cause to be done all things necessary to preserve, renew and maintain in full force and effect its legal existence, except as
otherwise expressly permitted under Section 6.05 or Section 6.06 or, in the case of any Subsidiary, where the failure to perform such obligations, individually or in the aggregate, could not reasonably be expected to result
in a Material Adverse Effect. 
 (b) Do or cause to be done all things reasonably necessary to obtain, preserve, renew, extend
and keep in full force and effect the rights, licenses, permits, privileges, franchises and authorizations material to the conduct of its business; maintain and renew patents, copyrights, trademarks and trade names material to the conduct of its
business; maintain and operate such business in substantially the manner in which it is presently conducted and operated; comply with all applicable Requirements of Law (including any and all zoning, building, Environmental Law, ordinance, code or
approval or any building permits or any restrictions of record or agreements affecting the Real Property) and decrees and orders of any Governmental Authority, whether now in effect or hereafter enacted, except where the failure to comply,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect; pay and perform its material obligations under all Leases and Transaction Documents; and at all times maintain, preserve and protect all
property material to the conduct of such business and keep such 

  
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property in good repair, working order and condition (other than wear and tear occurring in the ordinary course of business and casualty and condemnation) and from time to time make, or cause to
be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith may be properly conducted at all times, except where the failure to do so
could not reasonably be expected to have a Material Adverse Effect; provided that nothing in this Section 5.03(b) shall prevent (i) sales of property, consolidations or mergers by or involving any Company or Excluded
Subsidiary in accordance with Section 6.05 or Section 6.06; (ii) the withdrawal by any Company or Excluded Subsidiary of its qualification as a foreign legal entity in any jurisdiction where such withdrawal, individually
or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect; or (iii) the abandonment by any Company of any rights, franchises, licenses, trademarks, trade names, copyrights or patents that such person
reasonably determines are not useful to its business or no longer commercially desirable. 
 SECTION 5.04
Insurance. 
 (a) Generally. Keep its insurable property adequately insured at all times by financially sound
and reputable insurers; maintain such other insurance, to such extent and against such risks as is customary with companies in the same or similar businesses operating in the same or similar locations, including insurance with respect to Mortgaged
Properties and other properties material to the business of the Companies against such casualties and contingencies and of such types and in such amounts with such deductibles as is customary in the case of similar businesses operating in the same
or similar locations. 
 (b) Requirements of Insurance. All such insurance shall (i) provide that no cancellation,
material reduction in amount or material change in coverage thereof shall be effective until at least 30 days after receipt by the Administrative Agent of written notice thereof or as otherwise reasonably acceptable to the Administrative Agent,
(ii) name the Administrative Agent as mortgagee (in the case of property insurance) or additional insured on behalf of the Secured Parties (in the case of liability insurance) or loss payee (in the case of property insurance), as applicable,
(iii) if reasonably requested by the Administrative Agent, include a breach of warranty clause and (iv) be reasonably satisfactory in all other respects to the Administrative Agent. 

(c) Notice to Agents. Notify the Administrative Agent and the Co-Collateral Agents promptly whenever any separate insurance
concurrent in form or contributing in the event of loss with that required to be maintained under this Section 5.04 is taken out by any Company; and promptly deliver to the Administrative Agent and the Co-Collateral Agents a duplicate
original copy of such policy or policies. 
 (d) Flood Insurance. With respect to each Mortgaged Property, obtain flood
insurance in such total amount as the Administrative Agent or the Required Lenders may from time to time reasonably require, if at any time the area in which any improvements located on any Mortgaged Property is designated a “flood hazard
area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as
amended from time to time. 
 (e) Broker’s Report. Deliver to the Administrative Agent and the Co-Collateral Agents
a report of a reputable insurance broker with respect to such insurance and such supplemental reports with respect thereto as the Administrative Agent or the Co-Collateral Agents may from time to time reasonably request; provided, that absent
an Event of Default that has occurred and is continuing, the Administrative Agent and the Co-Collateral Agents shall not make such request more than once per calendar year. 

  
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 (f) Mortgaged Properties. No Loan Party that is an owner of Mortgaged Property shall
take any action that is reasonably likely to be the basis for termination, revocation or denial of any insurance coverage required to be maintained under such Loan Party’s respective Mortgage or that could be the basis for a defense to any
claim under any Insurance Policy maintained in respect of the Premises, and each Loan Party shall otherwise comply in all material respects with all Insurance Requirements in respect of the Premises; provided, however, that each Loan
Party may, at its own expense and after written notice to the Administrative Agent, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, the prosecution of which does not
constitute a basis for cancellation or revocation of any insurance coverage required under this Section 5.04 or (ii) cause the Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with
the provisions of this Section 5.04. 
 SECTION 5.05 Obligations and Taxes. 

(a) Payment of Obligations. Pay and discharge promptly when due all Taxes, assessments and governmental charges or levies imposed
upon it or upon its income or profits or in respect of its property, before the same shall become delinquent or in default, as well as all lawful claims for labor, services, materials and supplies or otherwise that, if unpaid, give rise to a Lien
other than a Permitted Lien upon such properties or any part thereof; provided that such payment and discharge shall not be required with respect to any such Tax, assessment, charge, levy or claim so long as (x)(i) the validity or amount
thereof shall be contested in good faith by appropriate proceedings timely instituted and diligently conducted and the applicable Company shall have set aside on its books adequate reserves or other appropriate provisions with respect thereto in
accordance with GAAP, (ii) such contest operates to suspend collection of the contested obligation, Tax, assessment or charge and enforcement of a Lien other than a Permitted Lien and (iii) in the case of Collateral, the applicable Company
shall have otherwise complied with the Contested Collateral Lien Conditions or (y) the failure to pay could not reasonably be expected to result in a Material Adverse Effect. 

(b) Filing of Returns. Timely and correctly file all material Tax Returns required to be filed by it. Withhold, collect and remit
all material Taxes that it is required to collect, withhold or remit. 
 SECTION 5.06 Employee Benefits.

 (a) Comply in all material respects with the applicable provisions of ERISA and the Code (except where any failure to comply
could not reasonably be expected to result in a Material Adverse Effect), and (b) furnish to the Administrative Agent (x) as soon as possible after, and in any event within 5 days after any Responsible Officer of any Company or any ERISA
Affiliates of any Company knows or has reason to know that, any ERISA Event has occurred that, alone or together with any other ERISA Event could reasonably be expected to result in liability of the Companies or any of their ERISA Affiliates in an
aggregate amount exceeding $1,000,000 or the imposition of a Lien on the assets of any Loan Party, a statement of a Financial Officer of Administrative Borrower setting forth details as to such ERISA Event and the action, if any, that the Companies
propose to take with respect thereto; (y) upon request by the Administrative Agent, copies of (i) each Schedule B (Actuarial Information) to the annual 

  
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report (Form 5500 Series) filed by any Company or any ERISA Affiliate with the Internal Revenue Service with respect to each Plan; (ii) the most recent actuarial valuation report for each
Plan; (iii) all notices received by any Company or any ERISA Affiliate from a Multiemployer Plan sponsor or any governmental agency concerning an ERISA Event; and (iv) such other documents or governmental reports or filings relating to any
Plan (or employee benefit plan sponsored or contributed to by any Company) as the Administrative Agent shall reasonably request and (z) promptly following any request therefor, copies of (i) any documents described in Section 101(k)
of ERISA that any Company or its ERISA Affiliate may request with respect to any Multiemployer Plan and (ii) any notices described in Section 101(1) of ERISA that any Company or its ERISA Affiliate may request with respect to any
Multiemployer Plan; provided that if any Company or its ERISA Affiliate has not requested such documents or notices from the administrator or sponsor of the applicable Multiemployer Plan, the applicable Company or ERISA Affiliate shall promptly make
a request for such documents or notices from such administrator or sponsor and shall provide copies of such documents and notices promptly after receipt thereof. 
 SECTION 5.07 Maintaining Records; Access to Properties and Inspections; Annual Meetings. 
 (a) Keep proper books of record and account in which full, true and correct entries in conformity with GAAP consistently applied and all Requirements of Law are made of all material dealings and
transactions in relation to its business and activities. Upon at least two (2) Business Days prior written notice, each Loan Party will permit any representatives designated by the Administrative Agent or any Lender to visit and inspect the
financial records (other than the records of the Board of Directors) and the property of such Company at reasonable times and as often as reasonably requested and to make extracts from and copies of such financial records, and permit any
representatives designated by the Administrative Agent or any Lender to discuss the affairs, finances, accounts and condition of any Loan Party with the officers and employees thereof and advisors therefor (including independent accountants);
provided that, excluding any such visits and inspections during the continuation of an Event of Default, only the Administrative Agent on behalf of the Lenders may exercise rights of the Administrative Agent and the Lenders under this
Section 5.07(a) and the Administrative Agent shall not exercise such rights more often than three times during any calendar year absent the existence of an Event of Default that is continuing, each time to be at the Borrowers’
expense; provided, further that when an Event of Default exists and is continuing, the Administrative Agent or any Lender (or any of their respective representatives) may do any of the foregoing at the expense of the Borrowers at any
time during normal business hours and upon reasonable advance notice. The Administrative Agent and the Lenders shall give the Loan Parties the opportunity to participate in any discussions with the Borrowers’ advisors (including independent
public accountants). Notwithstanding anything to the contrary in this Section 5.07(a), none of the Loan Parties will be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any
document, information or other matter (i) in respect of which disclosure to the Administrative Agent or any Lender (or their respective representatives) is prohibited by applicable law or binding agreement or (ii) that is subject to
attorney-client privilege or constitutes attorney work product; 
 (b) Within 150 days after the end of each fiscal year of the
Companies, at the written request of the Administrative Agent or Required Lenders, hold a meeting which, at Borrowers’ option, may be by conference call (the costs of any such call to be paid by Borrowers), with all Lenders who choose to attend
such meeting, at which meeting shall be reviewed the financial results of the previous fiscal year and the financial condition of the Companies and the budgets presented for the current fiscal year of the Companies. 

  
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 SECTION 5.08 Use of Proceeds. 

Use the proceeds of the Loans only for the purposes set forth in Section 3.12 and request the issuance of Letters of Credit
only for the purposes set forth in the definition of Commercial Letter of Credit or Standby Letter of Credit, as the case may be. 
 SECTION 5.09 Compliance with Environmental Laws; Environmental Reports. 
 (a) Except as could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect, comply, and cause all lessees and other persons occupying Real Property owned,
operated or leased by any Company to comply, in all material respects with all Environmental Laws and Environmental Permits applicable to its operations and Real Property; obtain and renew all material Environmental Permits applicable to its
operations and Real Property; and conduct all Responses required of the Companies by, and in accordance with, Environmental Laws; provided, further that no Company shall be required to undertake any Response 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. 

(b) If an Event of Default, if any, caused by reason of a breach of Section 3.18 or Section 5.09(a) shall have
occurred and be continuing for more than 30 days without the Companies commencing activities reasonably likely to cure such Event of Default, if any, in accordance with Environmental Laws, at the written request of the Administrative Agent or the
Required Lenders through the Administrative Agent, provide to the Lenders within 60 days after such request, at the expense of Borrowers, an environmental assessment report regarding the matters which are the subject of such Event of Default,
including, where appropriate, soil and/or groundwater sampling, prepared by an environmental consulting firm and, in the form reasonably acceptable to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the
estimated cost of any compliance or Response to address them. 
 SECTION 5.10 Additional Collateral; Additional
Guarantors. 
 (a) Subject to the terms of the Intercreditor Agreements and this Section 5.10, with respect
to any property acquired after the Closing Date by any Loan Party (which, for the avoidance of doubt, does not include assets held by, or any Equity Interests issued by, any Excluded Subsidiary) that is intended to be subject to the Lien created by
any of the Security Documents but is not so subject, promptly (and in any event within 30 days after the acquisition thereof (or such longer period of time not to exceed an additional 30 days as may be permitted by written consent by Administrative
Agent)) (i) execute and deliver to the Administrative Agent and the Co-Collateral Agents such amendments or supplements to the relevant Security Documents or such other documents as the Administrative Agent or the Co-Collateral Agents shall
deem reasonably necessary or advisable to grant to the Administrative Agent, for its benefit and for the benefit of the other Secured Parties, a Lien on such property subject to no Liens other than Permitted Liens, and (ii) take all actions
necessary to cause such Lien to be duly perfected to the extent required by such Security Document in accordance with all applicable Requirements of Law, including the filing of financing statements in such jurisdictions as may be reasonably
requested by the Administrative Agent. Borrowers shall otherwise take such actions and execute and/or deliver to the Administrative Agent such documents as the Administrative Agent or the Co-Collateral Agents shall require to confirm the validity,
perfection and priority of the Lien of the Security Documents on such after-acquired properties. 

  
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 (b) Subject to the terms of the Intercreditor Agreements and the Administrative
Borrower’s election under Section 5.18, with respect to any person that is or becomes a Subsidiary (other than an Excluded Subsidiary) after the Closing Date, promptly (and in any event within 30 days after such person becomes a
Subsidiary) (or such longer period of time not to exceed an additional 30 days as may be permitted by written consent by Administrative Agent)) (i) deliver to the Administrative Agent the certificates, if any, representing all of the Equity
Interests of such Subsidiary, together with undated stock powers or other appropriate instruments of transfer executed and delivered in blank by a duly authorized officer of the holder(s) of such Equity Interests, and all intercompany notes owing
from such Subsidiary to any Loan Party together with instruments of transfer executed and delivered in blank by a duly authorized officer of such Loan Party and (ii) cause such new Domestic Subsidiary (other than an Excluded Subsidiary)
(A) to execute a Joinder Agreement or such comparable documentation to become a Subsidiary Guarantor (or Borrower, in the case of Eligible Subsidiaries) and a joinder agreement to the applicable Security Agreement, substantially in the form
annexed thereto, and (B) to take all actions reasonably necessary or advisable in the opinion of the Administrative Agent or the Co-Collateral Agents to cause the Lien created by the applicable Security Agreement to be duly perfected to the
extent required by such agreement in accordance with all applicable Requirements of Law, including the filing of financing statements in such jurisdictions as may be reasonably requested by the Administrative Agent or the Co-Collateral Agents.
Notwithstanding the foregoing, (1) the Equity Interests required to be delivered to the Administrative Agent pursuant to clause (i) of this Section 5.10(b) shall not include any Equity Interests of a Foreign Subsidiary created
or acquired after the Closing Date and (2) no Foreign Subsidiary or any Domestic Subsidiary which holds as its only assets the Equity Interests of a Foreign Subsidiary shall be required to take the actions specified in clause (ii) of this
Section 5.10(b); provided that this exception shall not apply to (A) Voting Stock of any Foreign Subsidiary which is a first-tier controlled foreign corporation (as defined in Section 957(a) of the Code) of a Loan Party
representing 65% of the total voting power of all outstanding Voting Stock of such Foreign Subsidiary and (B) 100% of the Equity Interests not constituting Voting Stock of any such Foreign Subsidiary, except that any such Equity Interests
constituting “stock entitled to vote” within the meaning of Treasury Regulation Section 1.956-2(c)(2) shall be treated as Voting Stock for purposes of this Section 5.10(b). 

(c) Subject to the terms of the Intercreditor Agreements, promptly grant to the Administrative Agent, within 60 days (or such longer
period of time not to exceed an additional 30 days as may be permitted by written consent by Administrative Agent) of the acquisition thereof, a security interest in and Mortgage on (i) each Real Property owned in fee by such Loan Party (other
than Toledo) as is acquired by such Loan Party (other than Toledo) after the Closing Date and that, together with any improvements thereon, individually has a fair market value of at least $2,500,000, as additional security for the Secured
Obligations (unless the subject property is already mortgaged to a third party to the extent permitted by Section 6.02). Subject to the terms of the Intercreditor Agreements, such Mortgages shall be granted pursuant to documentation
reasonably satisfactory in form and substance to the Administrative Agent and the Co-Collateral Agents and shall constitute valid and enforceable perfected Liens subject only to Permitted Liens or other Liens acceptable to the Administrative Agent.
Subject to the terms of the Intercreditor Agreements, the Mortgages or instruments related thereto shall be duly recorded or filed in such manner and in such places as are required by law to establish, perfect, preserve and protect the Liens in
favor of the Administrative Agent required to be granted pursuant to the Mortgages and all taxes, fees and other charges payable in connection therewith shall be paid in full. Such Loan Party (other than Toledo) shall otherwise take such actions and
execute and/or deliver to the Administrative Agent such documents as the Administrative Agent or the Co-Collateral Agents shall reasonably require to confirm the validity, perfection and priority of the Lien of any existing Mortgage or new Mortgage
against such after-acquired Real Property (including a Title Policy, a Survey and local counsel opinion (in form and substance reasonably satisfactory to the Administrative Agent and the Co-Collateral Agents) in respect of such Mortgage).

  
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 (d) Notwithstanding anything in this Agreement or any Security Document to the contrary, in
no event shall the Collateral include, and no Loan Party or any Subsidiary shall be required to take any action to create, grant or perfect a security interest in, any property or assets that (i) consists of motor vehicles or leasehold
mortgages, (ii) assets subject to a jurisdiction other than the United States, any state thereof and the District of Columbia or (iii) in the case of any properties and assets as to which the Co-Collateral Agents determine in their
reasonable discretion that the costs of obtaining such security interest are excessive in relation to the value of the security to be afforded thereby. 
 (e) Notwithstanding anything in this Agreement or any Security Document to the contrary, this Section 5.10 (i) applies to Toledo and its assets and (ii) from and after the date of
repayment in full of the Term Loan, the Valero Seller Notes and the Sunoco Seller Note with the proceeds of equity issuances and/or unsecured debt, will apply with respect to the other Loan Parties and their assets, in each case, solely as to the
Revolving Credit Priority Collateral. 
 SECTION 5.11 Security Interests; Further Assurances. 

Subject to the terms of the Intercreditor Agreements, promptly, upon the reasonable request of the Administrative Agent or the
Co-Collateral Agents, at Borrowers’ expense, execute, acknowledge and deliver, or cause the execution, acknowledgment and delivery of any document or instrument supplemental to or confirmatory of the Security Documents or otherwise deemed by
the Administrative Agent or the Co-Collateral Agents reasonably necessary or desirable for the continued validity, perfection and priority of the Liens on the Collateral covered thereby subject to no other Liens except as permitted by the applicable
Security Document, or obtain any consents or waivers as may be necessary or appropriate in connection therewith. Notwithstanding anything in this Agreement or any Security Document to the contrary, except for filings under Article 9 of the UCC and
with the United States Patent and Trademark Office and the United States Copyright Office, in no event shall any registrations, filings or recordations in connection with any intellectual property (including Intellectual Property) be required.
Deliver or cause to be delivered to the Administrative Agent and the Co-Collateral Agents from time to time such other documentation, consents, authorizations, approvals and orders in form and substance reasonably satisfactory to the Administrative
Agent and the Co-Collateral Agents as the Administrative Agent and the Co-Collateral Agents shall reasonably deem necessary to perfect or maintain the Liens on the Collateral pursuant to the Security Documents. Upon the exercise by the
Administrative Agent, the Co-Collateral Agents or any Lender of any power, right, privilege or remedy pursuant to any Loan Document which requires any consent, approval, registration, qualification or authorization of any Governmental Authority
execute and deliver all applications, certifications, instruments and other documents and papers that the Administrative Agent, the Co-Collateral Agents or such Lender may reasonably require. If the Administrative Agent, the Co-Collateral Agents or
the Required Lenders determine that they are required by a Requirement of Law to have appraisals prepared in respect of the Real Property of any Loan Party constituting Collateral, Borrowers shall provide to the Administrative Agent appraisals that
satisfy the applicable requirements of the Real Estate Appraisal Reform Amendments of FIRREA and are otherwise in form and substance reasonably satisfactory to the Administrative Agent and the Co-Collateral Agents. 

  
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 SECTION 5.12 Information Regarding Collateral. 

(a) Not effect any change (i) in any Loan Party’s legal name, (ii) in the location of any Loan Party’s chief
executive office, (iii) in any Loan Party’s organizational structure, (iv) in any Loan Party’s Federal Taxpayer Identification Number or organizational identification number, if any, or (v) in any Loan Party’s
jurisdiction of organization (in each case, including by merging with or into any other entity, reorganizing, dissolving, liquidating, reorganizing or organizing in any other jurisdiction), until (A) it shall have given the Co-Collateral Agents
and the Administrative Agent not less than 30 days’ prior written notice (in the form of an Officers’ Certificate), or such lesser notice period agreed to by the Administrative Agent, of its intention so to do, clearly describing such
change and providing such other information in connection therewith as the Co-Collateral Agents or the Administrative Agent may reasonably request and (B) it shall have taken all action reasonably satisfactory to the Administrative Agent to
maintain the perfection and priority of the security interest of the Administrative Agent for the benefit of the Secured Parties in the Collateral, if applicable. Each Loan Party agrees to promptly provide the Administrative Agent with certified
Organizational Documents reflecting any of the changes described in the preceding sentence. Each Loan Party also agrees to promptly notify the Administrative Agent of any change in the location of any office in which it maintains books or records
relating to Collateral owned by it or any office or facility at which Collateral is located (including the establishment of any such new office or facility), other than changes in location to a Mortgaged Property or a leased property subject to a
Landlord Access Agreement. 
 (b) Concurrently with the delivery of financial statements pursuant to
Section 5.01(a), deliver to the Administrative Agent and the Co-Collateral Agents a Perfection Certificate Supplement. 
 SECTION 5.13 [Reserved]. 
 SECTION 5.14 Affirmative Covenants
with Respect to Leases. 
 With respect to each Lease, the respective Loan Party shall perform all the obligations
required of it under such Lease and enforce all of the tenant’s obligations thereunder, except where the failure to so perform or enforce could not reasonably be expected to result in a Property Material Adverse Effect. 

SECTION 5.15 Borrowing Base-Related Reports. 
 Borrowers shall deliver or cause to be delivered (at the expense of Borrowers) to the Administrative Agent and Co-Collateral Agents the following: 

(a) in no event less frequently than 20 days after the end of each month for the month most recently ended, a Borrowing Base Certificate
from Borrowers accompanied by such supporting detail and documentation as shall be reasonably requested by the Co-Collateral Agents in their reasonable credit judgment; provided, that if Excess Availability is less than or equal to 20% of the
Borrowing Base for a period in excess of three (3) continuing Business Days, then Borrowing Base Certificates shall be delivered on a weekly basis, for each calendar week, no later than Friday of the following calendar week, until Excess
Availability shall have exceeded 20% of the Borrowing Base for at least ten (10) consecutive Business Days. 

  
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 (b) upon request by the Co-Collateral Agents, and in no event less frequently than 30 days
after the end of (i) each month, a monthly trial balance showing Accounts outstanding aged from statement date as follows: 1 to 30 days, 31 to 60 days, 61 to 90 days and 91 days or more, accompanied by a comparison to the prior month’s
trial balance and such supporting detail and documentation as shall be requested by the Administrative Agent or Co-Collateral Agents in their reasonable credit judgment and (ii) each month, a summary of hydrocarbon Inventory by location and
type accompanied by such supporting detail and documentation as shall be reasonably requested by the Co-Collateral Agents in their reasonable credit judgment (in each case, together with a copy of all or any part of such delivery requested by any
Lender in writing after the Closing Date); 
 (c) at the time of delivery of each of the financial statements delivered pursuant
to Sections 5.01(a) and (b), a reconciliation of the Accounts trial balance and quarter-end hydrocarbon Inventory reports of Borrowers to the general ledger of Borrowers, accompanied by such supporting detail and documentation as shall be
reasonably requested by the Co-Collateral Agents in their reasonable credit judgment; and 
 (d) such other reports, statements
and reconciliations with respect to the Borrowing Base or Collateral of any or all Loan Parties as the Administrative Agent or the Co-Collateral Agents shall from time to time request in their reasonable credit judgment. 

The delivery of each certificate and report or any other information delivered pursuant to this Section 5.15 shall constitute a
representation and warranty by Borrowers that the statements and information contained therein are true and correct in all material respects on and as of such date. 
 SECTION 5.16 Inventory Appraisals. 
 Any of the Co-Collateral
Agents’ officers, designated employees or agents shall have the right, at any reasonable time or times subject to the following limitations on prior written notice to Borrowers to conduct field audits of the financial affairs and Collateral of
the Loan Parties. The Loan Parties shall cooperate fully with the Administrative Agent or the Co-Collateral Agents and its agents during all (x) Collateral field audits, which shall be at Borrowers’ expense and shall be conducted, at the
request of the Administrative Agent or the Co-Collateral Agents, not more than one (1) time during any twelve month period, absent an Event of Default that has occurred and is continuing, (y) Inventory Appraisals, which shall be at
Borrowers’ expense and shall be conducted, at the request of the Administrative Agent or the Co-Collateral Agents, not more than one (1) time, during any twelve month period, absent an Event of Default that has occurred and is continuing,
or (z) in the case of both Collateral field audits and Inventory Appraisals, following the occurrence and during the continuation of an Event of Default, more frequently at the Administrative Agent’s or the Co-Collateral Agents’
request; provided, that: (a) if Excess Availability is less than 40% of the lesser of (i) the Borrowing Base or (ii) the then current aggregate Revolving Commitments of the Lenders for a period in excess of five consecutive Business
Days, Agents shall be entitled to two Collateral field audits and Inventory Appraisals annually; and (b) if Excess Availability is less than 12.5% of the lesser of (i) the Borrowing Base or (ii) the then current aggregate Revolving
Commitments of the Lenders for a period in excess of five consecutive Business Days, Agents shall be entitled to three Collateral field audits and Inventory Appraisals annually; provided, further, that none of the foregoing limitations on the number
of Collateral Field audits or Inventory Appraisals shall apply during the continuance of an Event of Default. 

  
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 SECTION 5.17 Preservation of Certain Agreements. 

The Loan Parties shall preserve the existence and continuance of the Morgan Stanley Off-Take Agreements and the Oil Supply Agreements, in
each case, as replaced, superseded, amended (including as to changes of counterparties), modified or supplemented from time to time, in a manner as is not reasonably expected to result in a Material Adverse Effect. 

SECTION 5.18 Designation of Borrowers and Excluded Subsidiaries. 

(a) Administrative Borrower may designate any Eligible Subsidiary as a “Borrower” under this Agreement and the other Loan
Documents by written notice to the Administrative Agent; provided that (i) immediately before and after such designation, no Default or Event of Default shall have occurred and be continuing, (ii) no Eligible Subsidiary may be
designated as a “Borrower” if it is not (or concurrently will be) a “Borrower” or “Loan Party” for the purpose of the Term Loan Documents (if the Term Loan Documents are then in effect), (iii) the conditions set
forth in Section 4.04 shall have been satisfied with respect to such Eligible Subsidiary and (iv) immediately before and after giving effect to such designation, Borrowers shall be in compliance, on a Pro Forma Basis, with the
covenant set forth in Section 6.09, to the extent the covenant is then applicable and is being tested. Until such time as the requirements set forth in the preceding clauses (i) through (iii) shall have been
satisfied with respect to such Eligible Subsidiary, such Eligible Subsidiary shall not be a “Borrower” for purposes of this Agreement and the Accounts and hydrocarbon Inventory of such Eligible Subsidiary shall not be counted towards
calculating the Borrowing Base. 
 (b) Administrative Borrower may designate any Domestic Subsidiary acquired or formed after
the Closing Date, within 30 days of the formation or acquisition thereof (or such longer period of time as may be permitted by the Administrative Agent), as an Excluded Subsidiary by written notice to the Administrative Agent; provided that
(i) immediately before and after such designation, no Default or Event of Default shall have occurred and be continuing and (ii) no Subsidiary may be designated as an Excluded Subsidiary if it is not (or concurrently will be) an
“Excluded Subsidiary” for the purpose of the Term Loan Documents; provided further that such Excluded Subsidiary may be re-designated by Administrative Borrower as a “Subsidiary Guarantor” upon 10 Business Days (or such
shorter period of time as may be permitted by the Administrative Agent) prior written notice to the Administrative Agent as long as the requirements of Section 5.10 are satisfied either before or concurrently with it becoming a
Subsidiary Guarantor. 
 SECTION 5.19 Release of Non-Revolving Credit Priority Collateral. 

The parties hereto agree that as soon as practicable following the repayment in full of the Term Loan, the Valero Seller Notes and the
Sunoco Seller Note with the proceeds of equity issuances and/or unsecured debt, and in any event within 30 days of the date of such repayment in full, all Collateral other than Revolving Credit Priority Collateral shall be released. 

  
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 ARTICLE VI 
 NEGATIVE COVENANTS 
 Each Loan Party covenants and agrees that, so long as
this Agreement shall remain in effect and until the Commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under any Loan Document have been paid in full (in each case,
other than Unasserted Contingent Obligations) and all Letters of Credit have been canceled or have expired and all amounts drawn thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent in writing, no Loan Party
will, nor will they cause or permit any Subsidiaries (other than Excluded Subsidiaries) to: 
 SECTION 6.01
Indebtedness. 
 Incur, create, assume or permit to exist, directly or indirectly, any Indebtedness, except

 (a) Indebtedness incurred under this Agreement and the other Loan Documents; 

(b) (i) Indebtedness outstanding on the A&R Effective Date (and to the extent in excess of $5,000,000 in the
aggregate, is listed on Schedule 6.01(b)), (ii) refinancings or renewals thereof; provided that (A) any such refinancing Indebtedness is in an aggregate principal amount not greater than the aggregate principal amount plus
any unutilized commitments of the Indebtedness being renewed or refinanced, plus the amount of any premiums required to be paid thereon and reasonable fees and expenses associated therewith, (B) such refinancing Indebtedness has a later
or equal final maturity and longer or equal weighted average life than the Indebtedness being renewed or refinanced and (C) the terms and conditions thereof (including any guarantees thereof) shall be, in the aggregate and taken as a whole, no
less favorable to the Lenders than those contained in the Indebtedness being renewed or refinanced and (iii) Indebtedness under the Term Loan Documents (including any additional or incremental loans permitted thereunder) and Seller Note
Documents, including, in each case and subject to the limitations in the applicable Intercreditor Agreement relating to refinancings of Indebtedness under the Term Loan Documents and the Seller Note Documents, refinancings thereof; provided that
(A) any such refinancing Indebtedness is in an aggregate principal amount plus any unutilized commitments not greater than the aggregate principal amount of the Indebtedness being renewed or refinanced, plus the amount of any premiums required
to be paid thereon and reasonable fees and expenses associated therewith plus any incremental facility amounts provided for in such documents at the time of the refinancing, (B) such refinancing Indebtedness has a later or equal final maturity
and longer or equal weighted average life than the Indebtedness being renewed or refinanced, and (C) the terms and conditions thereof (including any guarantees thereof) shall be no less favorable in the aggregate and taken as a whole to the
Lenders than those contained in the Term Loan Documents and Seller Note Documents. 
 (c) Indebtedness under
Hedging Obligations entered into consistent with prudent industry practice; provided that if such Hedging Obligations relate to interest rates, (i) such Hedging Obligations relate to payment obligations on Indebtedness otherwise
permitted to be incurred by the Loan Documents and (ii) the notional principal amount of such Hedging Obligations at the time incurred does not exceed the principal amount of the Indebtedness to which such Hedging Obligations relate;

  
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 (d) Indebtedness permitted by Section 6.04(f); 

(e) Indebtedness in respect of Purchase Money Obligations, Attributable Indebtedness and Capital Lease Obligations, and
any other Indebtedness financing the acquisition, construction repair, replacement or improvement of any fixed or capital assets and refinancings or renewals thereof, in an aggregate amount not to exceed (i) $100,000,000 or (ii) if the Pro
Forma Excess Availability is in excess of the Threshold Basket Amount immediately before and immediately after giving effect to such Indebtedness (as determined on the date of incurrence of such Indebtedness), $150,000,000 at any time outstanding;

 (f) Indebtedness in respect of bid, performance or surety bonds, workers’ compensation claims,
self-insurance obligations and bankers acceptances issued for the account of any Company in the ordinary course of business, including guarantees or obligations of any Company with respect to letters of credit supporting such bid, performance or
surety bonds, workers’ compensation claims, self-insurance obligations and bankers acceptances (in each case other than for an obligation for money borrowed), in an aggregate amount not to exceed $6,000,000 at any time outstanding; 

(g) Contingent Obligations (including guarantees) of any Loan Party in respect of Indebtedness otherwise permitted under
this Section 6.01; 
 (h) Indebtedness arising from the honoring by a bank or other financial
institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business; provided, however, that such Indebtedness is
extinguished within five Business Days of incurrence; 
 (i) Indebtedness arising in connection with endorsement
of instruments for deposit in the ordinary course of business; 
 (j) Indebtedness arising from an unsecured
guaranty, except for the pledge of the Equity Interests of Paulsboro and Paulsboro Natural Gas Pipeline Company, provided by Holdings in respect of its guaranty obligations under the Valero Seller Note; 

(k) Indebtedness under the DEDA Loan and Security Agreement; 

(l) unsecured Indebtedness and Subordinated Indebtedness of any Company; provided that (A) that such
Indebtedness has a later final maturity date than the Indebtedness incurred under this Agreement and the other Loan Documents and (B) at the time of incurrence, the Consolidated Interest Coverage Ratio on a Pro Forma Basis for the incurrence of
such Indebtedness is not less than 2.00:1.00; 
 (m) (i) Indebtedness assumed in connection with any
Permitted Acquisition, provided, that (x) such Indebtedness (A) was not incurred in contemplation of such Permitted Acquisition, (B) is secured only by the assets acquired in the applicable Permitted Acquisition (including any
acquired Equity Interests), (C) the only obligors with respect to any Indebtedness incurred pursuant to this clause (m)(i) shall be those persons who were obligors of such 

  
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Indebtedness prior to such Permitted Acquisition, and (y) both immediately prior and after giving effect thereto no Default shall exist or result therefrom and (ii) Indebtedness
incurred in connection with the financing of any Permitted Acquisition, provided, that (x) such Indebtedness (A) is secured only by the assets (other than assets constituting Revolving Credit Priority Collateral) acquired in the
applicable Permitted Acquisition (including any acquired Equity Interests), (B) the only obligors with respect to any Indebtedness incurred pursuant to this clause (m)(ii) shall be those persons who were obligors of such Indebtedness
prior to such Permitted Acquisition and/or Affiliates of the Loan Parties (and in the case of the Loan Parties, solely to the extent permitted by Section 6.05), and (y) both immediately prior and after giving effect thereto
(A) no Default shall exist or result therefrom and (B) the aggregate principal amount of such Indebtedness and all Indebtedness resulting from any Permitted Refinancing thereof at any time outstanding pursuant to this clause (m)(ii)
does not exceed (x) $300,000,000 or (y) if the Pro Forma Excess Availability is in excess of the Threshold Basket Amount both before and immediately after giving Pro Forma effect thereto, $400,000,000 at any one time outstanding;

 (n) Indebtedness representing deferred compensation to employees of any Loan Parties incurred in the ordinary
course of business, and/or incurred by such Person in connection with the Transactions and Permitted Acquisitions or any other Investment expressly permitted hereunder; 

(o) Indebtedness to current or former officers, directors, managers, consultants and employees, their respective estates,
spouses or former spouses to finance the purchase or redemption of Equity Interests of any Loan Parties; 
 (p)
Indebtedness incurred in connection with a Permitted Acquisition, any other Investment expressly permitted hereunder or any Asset Sale permitted hereunder, in each case to the extent constituting Indebtedness as a result of indemnification
obligations or obligations in respect of purchase price (including earn-outs) or other similar adjustments; 

(q) Indebtedness resulting from obligations with respect to Treasury Services Agreements and other Indebtedness in respect
of netting services, automatic clearinghouse arrangements, overdraft protections and similar arrangements in each case in connection with deposit accounts in the ordinary course of business; 

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

(s) Indebtedness consisting of customer deposits and advance payments received in the ordinary course of business from
customers for goods purchased; 
 (t) to the extent constituting Indebtedness, obligations under (i) the Oil
Supply Agreements, and (ii) the Morgan Stanley Off-Take Agreements; 
 (u) Indebtedness incurred in
connection with Environmental and Necessary Capex in an amount not to exceed $35,000,000 in the aggregate; 

  
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 (v) Indebtedness in respect of letters of credit and/or other credit support
issued in connection with the purchase by the Loan Parties of Saudi Oil from Aramco; provided, that any such Indebtedness shall be secured solely by the purchased Saudi Oil, accounts receivable (including accounts, chattel paper, payment
intangibles, general intangibles, instruments and all other rights to payment) arising from the sale or other disposition of such Saudi Oil, contracts, bills of lading, other documents of title and books and records pertaining to the foregoing,
proceeds and products of the foregoing and proceeds of any insurance, indemnity, warranty or guaranty with respect to any of the foregoing (and any cash collateral and deposit accounts holding such cash collateral, if any, provided therefor)
(collectively, the “Saudi Oil Assets”) (it being understood and agreed that notwithstanding any term or condition to the contrary in any Loan Document (including any Security Document), any and all items set forth in this proviso
are not Collateral for the Obligations); 
 (w) unsecured Indebtedness incurred in connection with the Toledo
Acquisition in an aggregate principal amount not to exceed $200,000,000; 
 (x) Indebtedness arising from an
unsecured guaranty provided by Holdings in respect of the Indebtedness described in the preceding clause (w) in connection with the Toledo Acquisition; 

(y) the High Yield Indebtedness; 
 (z) Indebtedness arising from an unsecured guaranty provided by any Loan Party in respect of the Indebtedness described in the preceding clause (y); 

(aa) Indebtedness in respect of letters of credit issued by any Person; 

(bb) Indebtedness in an aggregate amount not to exceed $30,000,000 incurred in connection with Sale and Leaseback
Transactions with respect to Catalyst Assets permitted pursuant to Section 6.03; and 
 (cc) general
Indebtedness not otherwise permitted by clauses (a) through (bb) above in an aggregate amount not to exceed $5,000,000 outstanding at any time. 
 The accrual of interest or dividends, the accretion of accreted value, the accretion or amortization of original issue discount and the payment of interest or dividends solely in the form of additional
Indebtedness or Disqualified Capital Stock shall not be deemed to be an incurrence of Indebtedness for purposes of this Section 6.01. 
 SECTION 6.02 Liens. 
 Create, incur, assume or permit to exist,
directly or indirectly, any Lien on any property now owned or hereafter acquired by it or on any income or revenues or rights in respect of any thereof, except the following (collectively, the “Permitted Liens”): 

(a) inchoate Liens for taxes, assessments or governmental charges or levies not yet due and payable or delinquent and
Liens for taxes, assessments or governmental charges or levies, which are being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP, which proceedings (or orders entered in
connection with such proceedings) have the effect of preventing the forfeiture or sale of the property subject to any such Lien; 

  
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 (b) Liens in respect of property of any Company imposed by Requirements of
Law, which were incurred in the ordinary course of business and do not secure Indebtedness for borrowed money, such as carriers’, warehousemen’s, materialmen’s, landlords’, workmen’s, suppliers’, repairmen’s and
mechanics’ Liens and other similar Liens arising in the ordinary course of business, and (i) which do not in the aggregate materially detract from the value of the property of the Companies, taken as a whole, and do not materially impair
the use thereof in the operation of the business of the Companies, taken as a whole and (ii) which, if they secure obligations that are then due and unpaid, are being contested in good faith by appropriate proceedings for which adequate
reserves have been established in accordance with GAAP, which proceedings (or orders entered in connection with such proceedings) have the effect of preventing the forfeiture or sale of the property subject to any such Lien; 

(c) any Lien in existence on the A&R Effective Date and set forth on Schedule 6.02(c) and any Lien granted as a
replacement or substitute therefor; provided that any such replacement or substitute Lien (i) except as permitted by Section 6.01(b)(ii)(A), does not secure an aggregate amount of Indebtedness, if any, greater than that secured on the
A&R Effective Date and (ii) does not encumber any property other than the property subject thereto on the A&R Effective Date and accessions thereto (any such Lien, an “Existing Lien”); 

(d) easements, rights-of-way, restrictions (including zoning restrictions and other similar permits), covenants, licenses,
encroachments, protrusions and other similar charges or encumbrances, and minor title deficiencies on or with respect to any Real Property, in each case whether now or hereafter in existence, not individually or in the aggregate materially
interfering with the ordinary conduct of the business of the Companies at such Real Property; 
 (e) Liens
arising out of judgments, attachments or awards not resulting in a Default and in respect of which such Company shall in good faith be prosecuting an appeal or proceedings for review in respect of which there shall be secured a subsisting stay of
execution pending such appeal or proceedings and, in the case of any such Lien which has or may become a Lien against any of the Collateral, such Lien and the contest thereof shall satisfy the Contested Collateral Lien Conditions; 

(f) Liens (other than any Lien imposed by ERISA) (x) imposed by Requirements of Law or deposits made in connection
therewith in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other types of social security legislation, (y) incurred in the ordinary course of business to secure the performance of
tenders, statutory obligations (other than excise taxes), surety, stay, customs and appeal bonds, statutory bonds, bids, leases, government contracts, trade contracts, performance and return of money bonds and other similar obligations (exclusive of
obligations for the payment of Indebtedness) or (z) arising by virtue of deposits made in the ordinary course of business to secure liability for premiums to insurance brokers, carriers or insurance companies; provided that (i) with
respect to clauses (x), (y) and (z) of this paragraph (f), such Liens are for amounts not yet delinquent or, to the extent such amounts are so delinquent, in excess of $2,000,000, such amounts are being
contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP and, in connection with such proceedings, orders have been entered that have the effect of preventing the forfeiture or sale
of the property subject to any such Lien, (ii) to the extent such Liens are not imposed by Requirements of Law, such Liens shall in no event encumber any property other than cash and Cash Equivalents (or in respect of subclause (z), cash, Cash
Equivalents and/or insurance proceeds), and (iii) in the case of any such Lien against any of the Collateral, such Lien and the contest thereof shall satisfy the Contested Collateral Lien Conditions; 

  
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 (g) Leases of the properties of any Company granted by such Company to third
parties, in each case entered into in the ordinary course of such Company’s business so long as such Leases do not, individually or in the aggregate, interfere in any material respect with the ordinary conduct of the business of any Company;

 (h) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale
of goods entered into by any Company in the ordinary course of business; 
 (i) Liens securing Indebtedness and
other obligations incurred pursuant to Section 6.01(e); provided, that (i) any such Liens attach only to the property being financed pursuant to such Indebtedness and do not encumber any other property of any Company (other
than improvements and accessions thereon) and (ii) Liens solely on the Saudi Oil Assets (it being understood and agreed that notwithstanding any term or condition to the contrary in any Loan Document (including any Security Document), any and
all items set forth in this clause (ii) are not Collateral for the Obligations); 
 (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 deposit, securities and/or other similar accounts maintained by any Company, in each case granted in the ordinary
course of business in favor of the bank or banks with which such accounts are maintained, securing amounts owing to such bank with respect to cash management, depository and operating account arrangements, including those involving pooled accounts
and netting arrangements; 
 (k) Liens on property of a person existing at the time such person is acquired or
merged with or into or consolidated with any Company to the extent permitted hereunder (and not created in anticipation or contemplation thereof); provided that such Liens do not extend to property not subject to such Liens at the time of
acquisition (other than improvements and accessions thereon); 
 (l) Liens granted pursuant to the Security
Documents to secure the Secured Obligations; 
 (m) licenses of intellectual property (including Intellectual
Property) granted by any Company in the ordinary course of business and not interfering in any material respect with the ordinary conduct of business of the Companies; 

(n) the filing of UCC financing statements solely as a precautionary measure in connection with operating leases or
consignment of goods or the filing of UCC financing statements in connection with the Morgan Stanley Off-Take Agreements or the Oil Supply Agreements; 
 (o) (i) Liens on cash and Cash Equivalents securing obligations with respect to Commodity Hedging Agreements with any Person and (ii) Liens on cash and Cash Equivalents securing letters of
credit permitted under Section 6.01(aa); 

  
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 (p) Liens on Intermediate Products in favor of MSCG; 

(q) Liens on the Morgan Stanley Off-Take Agreements pursuant to the Statoil Oil Supply Agreements; 

(r) Liens securing Indebtedness under the Term Loan Documents and refinancings, refundings, extensions and renewals
thereof as permitted under Section 6.01(b)(iii), subject to the Revolver-Term Loan Intercreditor Agreement, the Valero Seller Note Intercreditor Agreement, the Sunoco Seller Note Intercreditor Agreement and the DEDA Intercreditor
Agreement; 
 (s) Liens solely on the Valero Seller Note Collateral in favor of the Valero Seller Note Lender
securing Indebtedness and other obligations under the Valero Seller Note Documents and refinancings, refundings, extensions and renewals thereof as permitted under Section 6.01(b)(iii), subject to the Valero Seller Note Intercreditor
Agreement; 
 (t) Liens solely on the Sunoco Seller Note Collateral in favor of the Sunoco Seller Note Lender
securing Indebtedness and other obligations under the Sunoco Seller Note Documents and refinancings, refundings, extensions and renewals thereof as permitted under Section 6.01(b)(iii), subject to the Sunoco Seller Note Intercreditor
Agreement; 
 (u) Liens securing Indebtedness incurred with respect to Commodity Hedging Agreements to be secured
on a pari passu basis with (or on a junior basis to) Liens permitted to exist under Section 6.02(r) and with the Liens granted pursuant to the Security Documents to secure the Secured Obligations; 

(v) Liens solely on the DEDA Specified Collateral in favor of DEDA securing Indebtedness under the DEDA Loan and Security
Agreement, subject to the DEDA Intercreditor Agreement; 
 (w) Liens incurred in the ordinary course of business
of any Company with respect to obligations that do not in the aggregate exceed $3,000,000 at any time outstanding, so long as such Liens, to the extent covering any Revolving Credit Priority Collateral, are junior to the Liens granted pursuant to
the Security Documents; 
 (x) Liens in favor of customs and revenue authorities arising as a matter of law to
secure payment of customs duties in connection with the importation of goods in the ordinary course of business; 

(y) Liens (i) on cash advances in favor of the seller of any property to be acquired as part of a Permitted
Acquisition or (ii) consisting of an agreement to dispose of any property in a Asset Sale permitted hereunder, in each case, solely to the extent such Permitted Acquisition or Asset Sale, as the case may be, would have been permitted on the
date of the creation of such Lien; 
 (z) Liens that are contractual rights of set-off relating to purchase
orders and other agreements entered into with customers, other than the Seller Note Lenders and their Affiliates, in the ordinary course of business; 

  
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 (aa) Liens solely on any cash earnest money deposits made by the Borrowers
or any of their respective Subsidiaries in connection with any letter of intent or purchase agreement permitted hereunder; 
 (bb) Liens placed upon the assets of such person and any of its Subsidiaries to secure Indebtedness (or to secure a guaranty of such Indebtedness) incurred pursuant to and in accordance with
Section 6.01(m) in connection with such Permitted Acquisition and Liens on Equity Interests issued by an Excluded Subsidiary; 
 (cc) Liens on specific items of inventory or other goods and the proceeds thereof securing such Person’s obligations in respect of documentary letters of credit or banker’s acceptances issued or
created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or goods; 
 (dd) Liens on assets constituting Environmental and Necessary Capex securing Indebtedness permitted by Section 6.01(v); 

(ee) Liens on Certain Hydrocarbon Assets (including Certain Hydrocarbon Assets in the possession Statoil or its
Affiliates) in favor of Statoil, its Affiliates and/or an agent of any of the foregoing; 
 (ff) Liens on Certain
MSCG Receivables in favor of Statoil, its Affiliates and/or any agent of any of the foregoing (it being understood and agreed that upon the payment in cash to a Loan Party with respect to any Certain MSCG Receivable, no Lien shall be permitted to
exist, directly or indirectly, on such Certain MSCG Receivable in favor of Statoil, its Affiliates and/or any agent of any of the foregoing); 
 (gg) Liens solely on Catalyst Assets securing Indebtedness permitted pursuant to Section 6.01(bb); and 
 (hh) other Liens not otherwise permitted in clauses (a) through (gg) above securing Indebtedness otherwise permitted hereunder in an aggregate amount not to exceed $4,000,000 at any time outstanding;

 provided, however, that no consensual Liens shall be permitted to exist, directly or indirectly, on any Securities Collateral,
other than Liens granted pursuant to the Security Documents and the Term Loan Security Documents, subject to the Revolver-Term Loan Intercreditor Agreement, the Valero Seller Note Intercreditor Agreement, the Sunoco Seller Note Intercreditor
Agreement and the DEDA Intercreditor Agreement, and Seller Note Security Documents (solely with respect to Valero Seller Note Collateral representing the Equity Interests of Paulsboro and Paulsboro Natural Gas Pipeline Company, subject to the Valero
Seller Note Intercreditor Agreement). 
 SECTION 6.03 Sale and Leaseback Transactions. 

Except for Sale and Leaseback Transactions (as hereinafter defined) with respect to Catalyst Assets, enter into any arrangement, directly
or indirectly, with any person whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which it intends
to use for substantially the same purpose or purposes as the property being sold or transferred (a “Sale and Leaseback Transaction”) unless at the time of consummation of any such Sale and Leaseback Transaction, Excess
Availability is greater than the Threshold Basket Amount. 

  
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 SECTION 6.04 Investment, Loan, Advances and Acquisition. 

Directly or indirectly, make any Investment, except that the following shall be permitted: 

(a) the Companies may consummate the Transactions in accordance with the provisions of the Transaction Documents;

 (b) Investments outstanding on the A&R Effective Date, to the extent in excess of $5,000,000 in the
aggregate identified on Schedule 6.04(b); 
 (c) the Companies may (i) acquire and hold accounts
receivables owing to any of them if created or acquired in the ordinary course of business, (ii) invest in, acquire and hold cash and Cash Equivalents, (iii) endorse negotiable instruments held for collection in the ordinary course of
business or (iv) make lease, utility and other similar deposits in the ordinary course of business; 
 (d)
Hedging Obligations incurred pursuant to Section 6.01(c); 
 (e) loans and advances to directors,
employees and officers of Borrowers and the Subsidiaries for bona fide business purposes and to purchase Equity Interests of Parent, in an aggregate amount not to exceed $2,500,000 at any time outstanding; 

(f) Investments by any Company in any Borrower or any existing Subsidiary Guarantor; provided that any Investment
by or in a Loan Party in the form of a loan or advance shall be evidenced by the Intercompany Note pledged by such Loan Party as Collateral pursuant to the Security Documents; 

(g) Investments in securities of trade creditors or customers in the ordinary course of business received upon foreclosure
or settlement or pursuant to any plan of reorganization or liquidation or similar arrangement upon the bankruptcy or insolvency of such trade creditors or customers; 

(h) Permitted Acquisitions; 
 (i) mergers and consolidations in compliance with Section 6.05; 
 (j) Investments made by Borrowers or any Subsidiary Guarantor as a result of consideration received in connection with an Asset Sale made in compliance with Section 6.06; 

(k) Capital Expenditures made by Borrowers or any Subsidiary Guarantor on behalf of itself or as would otherwise be
permitted pursuant to Section 6.04(f); 
 (l) to the extent constituting Investments, purchases and
other acquisitions of inventory, materials, equipment and other tangible property in the ordinary course of business; 

  
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 (m) leases of real or personal in the ordinary course of business which are
not in violation of the Loan Documents; 
 (n) other Investments in an aggregate amount that, as of the time
made, do not in the aggregate exceed the then existing the Available Amount Basket, provided, further, that after giving effect to any such Investment, (I) Pro Forma Excess Availability shall be greater than the Threshold Basket
Amount, (II) no Default or Event of Default shall have occurred or shall result therefrom and (III) the Loan Parties shall be in compliance on a Pro Forma Basis with the covenant set forth in Section 6.09(a) at such time (tested without
regard to whether or not such covenant is otherwise being tested at such time); 
 (o) to the extent constituting
Investments, such Investments resulting from Liens, Indebtedness, fundamental changes, Asset Sales, other dispositions of assets and Dividends expressly permitted under another section of this Article VI; 

(p) advances of payroll payments to employees in the ordinary course of business; 

(q) Investments to the extent that payment for such Investments is made with Equity Interests of Parent (or any direct or
indirect parent of Parent); 
 (r) Investments that are held at the time of the acquisition thereof by a
Subsidiary acquired after the A&R Effective Date (and not made in contemplation of such acquisition) or of a person merged with or consolidated with any Company in accordance with Section 6.05 after the A&R Effective Date to the
extent that such Investments were not made in contemplation of or in connection with such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation; and 

(s) other Investments not otherwise permitted by clauses (a) through (r) above in an amount not to
exceed $5,000,000 at any time outstanding. 
 An Investment shall be deemed to be outstanding to the extent not returned in the
same form as the original Investment or in cash or Cash Equivalents to Borrowers or any Subsidiary Guarantor, as applicable. For the avoidance of doubt, any Investment made by a Loan Party in, or for the benefit of, an Excluded Subsidiary shall
constitute an Investment hereunder and be subject to the provisions of this Section 6.04 and any Investment made by an Excluded Subsidiary is not subject to the provisions of this Section 6.04. 

SECTION 6.05 Mergers and Consolidations. 
 Wind up, liquidate or dissolve its affairs or consummate any transaction of merger or consolidation, except that the following shall be permitted: 

(a) the Transactions as contemplated by the Transaction Documents; 

(b) Asset Sales and other dispositions of assets in compliance with Section 6.06; 

(c) acquisitions and other Investments in compliance with Section 6.04; 

  
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 (d) any Company may merge or consolidate with or into a Borrower or any
Subsidiary Guarantor (as long as a Borrower is the surviving person in the case of any merger or consolidation involving a Borrower and a Subsidiary Guarantor is the surviving person and remains a Wholly Owned Subsidiary of Holdings in any other
case); provided that the Lien in such property constituting Collateral granted or to be granted in favor of the Administrative Agent under the Security Documents shall be maintained or created in accordance with the provisions of
Section 5.10 or Section 5.11, as applicable; provided, that (i) as long as the obligations under the Valero Seller Note Documents remain outstanding (other than Unasserted Contingent Obligations), Paulsboro shall
not be permitted to merge or consolidate with or into any other Person and (ii) as long as the obligations under the DEDA Loan and Security Agreement remaining outstanding (other than Unasserted Contingent Obligations), Delaware City shall not
be permitted to merge or consolidate with or into any other Person; and 
 (e) any Subsidiary Guarantor may
dissolve, liquidate or wind up its affairs at any time; provided that such dissolution, liquidation or winding up, as applicable, is not reasonably expected to have a Material Adverse Effect. 

To the extent the Required Lenders or all the Lenders, as applicable, waive the provisions of this Section 6.05 with respect
to the conveyance, sale, assignment, transfer or other disposition of any Collateral, or any Collateral is conveyed, sold, assigned, transferred or disposed of as permitted by this Section 6.05 or any other express term and condition of
any Loan Document, such Collateral (unless sold to a Loan Party) shall be sold free and clear of the Liens created by the Security Documents. 
 SECTION 6.06 Asset Sales. 
 (a) Consummate any Asset Sale
(I) of all or substantially all of the assets of the Paulsboro Facility or the DCR Facility, or (II) with respect to the DCR Facility’s refinery and/or terminal assets in excess of $10,000,000 per fiscal year, provided that the Net
Cash Proceeds from any such sale of terminal assets with a fair market value of $5,000,000 or less in any fiscal year shall be required to be reinvested in assets used or usable in the business of the Loan Parties within 365 days following receipt
thereof by the Loan Parties of such Net Cash Proceeds; provided, further, that if all or any portion of such Net Cash Proceeds is not so reinvested within such 365-day period, such unused portion shall, subject to the terms of the
Revolver-Term Loan Intercreditor Agreement, be applied on the last day of such period as a mandatory prepayment as provided in Section 2.10(c).; and, provided, further, that the restrictions set forth in clause (II) above shall
cease to apply following the occurrence of both (i) the DCR Facility being substantially operational and (ii) the repayment in full in cash of all obligations under the Term Loan Documents (other than any Unasserted Contingent
Obligations). 
 (b) At any time when Excess Availability is below the Threshold Basket Amount, consummate any Asset Sale (other
than Asset Sales described in Section 6.06(b)(i)) other than: 
 (i) disposition of used, worn out,
damaged, obsolete or surplus property by any Company in the ordinary course of business and the abandonment or other disposition of intellectual property (including Intellectual Property) that is, in the reasonable judgment of Borrowers, no longer
commercially desirable to maintain or useful in the conduct of the business of the Companies taken as a whole; 

  
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 (ii) leases of real or personal property in the ordinary course of business
and not in violation of the Loan Documents; 
 (iii) the Transactions as contemplated by the Transaction
Documents; 
 (iv) mergers and consolidations in compliance with Section 6.05; 

(v) Investments in compliance with Section 6.04; 

(vi) Asset Sales in connection with Sale and Leaseback Transactions with respect to Catalyst Assets permitted under
Section 6.03; and 
 (vii) other Asset Sales at fair market value; provided that, (i) at the
time of such Asset Sale, no Default shall exist or would result from such Asset Sale, (ii) at the time of such Asset Sale, both before and after giving effect thereto, Excess Availability shall be greater than the Threshold Basket Amount and
(iii) at least 75% of the purchase price for all property subject to such Asset Sale shall be paid solely in cash and Cash Equivalents, it being understood that notes and other property convertible into cash within 90 days after the date of
receipt shall be considered cash for purposes of this Section 6.06(b); 
 (c) dispositions of immaterial assets in
the ordinary course of business; 
 (d) dispositions of property to the extent that (i) such property is exchanged for
credit against the purchase price of similar replacement property that is promptly purchased or (ii) the proceeds of such disposition are promptly applied to the purchase price of such replacement property (which replacement property is
actually promptly purchased); 
 (e) to the extent Asset Sales, transactions permitted by Sections 6.03, 6.05 and
6.07; 
 (f) Asset Sales in the ordinary course of business of Cash Equivalents; 

(g) leases, subleases, licenses or sublicenses, in each case in the ordinary course of business and which do not materially interfere
with the business of the Companies, taken as a whole; 
 (h) transfers of property subject to Casualty Events upon receipt of
the Net Cash Proceeds of such Casualty Event; 
 (i) Asset Sales of property not otherwise permitted under this
Section 6.06; provided that (i) at the time of such Asset Sale (other than any such Asset Sale made pursuant to a legally binding commitment entered into at a time when no Default exists, no Default shall exist or would
result from such Asset Sale, (ii) the aggregate fair market value of all property disposed of in reliance on this clause (i) shall not exceed $10,000,000 per calendar year (with unused amounts in any calendar year being carried over
to the succeeding calendar years); 
 (j) Asset Sales of Investments in joint ventures to the extent required by, or made
pursuant to customary buy/sell arrangements between, the joint venture parties set forth in joint venture arrangements and similar binding arrangements; 

  
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 (k) Asset Sales of accounts receivable or notes receivable in the ordinary course of
business in connection with the collection or compromise thereof; 
 (l) any issuance or sale of Equity Interests in, or
Indebtedness or other securities of, an Excluded Subsidiary; and 
 (m) the unwinding of any Hedging Agreement pursuant to its
terms. 
 To the extent the Required Lenders or all the Lenders, as applicable, waive the provisions of this
Section 6.06 with respect to the sale of any Collateral, or any Collateral is sold as permitted by this Section 6.06, such Collateral (unless sold to a Loan Party) shall be sold free and clear of the Liens created by the
Security Documents. 
 SECTION 6.07 Dividends. 

Authorize, declare or pay, directly or indirectly, any Dividends, except that the following shall be permitted: 

(a) Dividends by any Company to Borrowers or any Subsidiary Guarantor that is a Subsidiary of any Borrower; 

(b) payments to Parent to permit Parent, and the subsequent use of such payments by Parent, to repurchase or redeem
Qualified Capital Stock of Parent held by officers, directors or employees or former officers, directors or employees (or their transferees, estates or beneficiaries under their estates) of any Company, upon their death, disability, retirement,
severance, resignation or termination of employment or service or pursuant to any employee or directors’ and/or officers’ equity or stock compensation plan; provided that the aggregate cash consideration paid for all such
redemptions and payments shall not exceed, in any fiscal year, $10,000,000 (and up to 50% of such $10,000,000 not used in any fiscal year may be carried forward to the next succeeding (but no other) fiscal year). 

(c) (A) to the extent actually used by Holdings to pay such taxes, costs and expenses, payments by Borrowers to or on
behalf of Holdings in an amount sufficient to pay franchise taxes and other fees required to maintain the legal existence of Holdings and (B) payments by Borrowers to or on behalf of Holdings in an amount sufficient to pay out-of-pocket legal,
accounting and filing costs and other expenses in the nature of overhead in the ordinary course of business of Holdings in an aggregate amount not to exceed $5,000,000 in any fiscal year; 

(d) Dividends, that in the aggregate do not exceed the then existing Available Amount Basket, provided, further,
that both before and after giving effect to any such Dividend, (I) Pro Forma Excess Availability shall be greater than the Threshold Basket Amount, (II) no Default or Event of Default shall have occurred or shall result therefrom and (III) the
Loan Parties shall be in compliance on a Pro Forma Basis with the covenant set forth in Section 6.09(a) at such time (tested without regard to whether or not such covenant is otherwise being tested at such time); 

(e) Permitted Tax Distributions; 

  
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 (f) (i) Parent may purchase or redeem in whole or in part any of its Equity
Interests for another class of Equity Interests (other than Disqualified Capital Stock) or rights to acquire its Equity Interests (other than Disqualified Capital Stock) or with proceeds from substantially concurrent equity contributions or
issuances of new Equity Interests (other than Disqualified Capital Stock); provided that any terms and provisions material to the interests of the Lenders, when taken as a whole, contained in such other class of Equity Interests (other than
Disqualified Capital Stock) are no less favorable to the Lenders as those contained in the Equity Interests redeemed thereby and (ii) the Borrowers and each Subsidiary may declare and make dividend payments or other distributions payable solely
in the Equity Interests (other than Disqualified Capital Stock) of such Person; 
 (g) to the extent contributed
to Holdings or any other Borrower, the Net Cash Proceeds from the sale of Equity Interests (other than Disqualified Capital Stock) of Parent and, to the extent contributed to Holdings or any other Borrower, Equity Interests of any of Parent’s
direct or indirect parent companies, in each case, to members of management, directors or consultants of Holdings, any other Borrower or any of their Subsidiaries; 

(h) Holdings and the Borrowers may make Dividends to any direct or indirect parent of Holdings, the proceeds of which
shall be used to pay: 
 (i) its operating costs and expenses incurred in the ordinary course of business and
other corporate overhead costs and expenses (including administrative, legal, accounting and similar expenses provided by third parties), which are reasonable and customary and incurred in the ordinary course of business, attributable to the
ownership or operations of Holdings, the Borrowers and their respective Subsidiaries (including any reasonable and customary indemnification claims made by directors or officers of any direct or indirect parent of Holdings and the Borrowers
attributable to the ownership or operations of Holdings, the Borrowers and their respective Subsidiaries); 

(ii) customary costs, fees and expenses related to any unsuccessful equity or debt offering permitted by this Agreement;
and/or 
 (iii) the proceeds of which shall be used to pay customary salary, bonus and other benefits payable to
officers and employees of any direct or indirect parent company of Holdings and the Borrowers to the extent such salaries, bonuses and other benefits are attributable to the ownership or operation of Holdings, the Borrowers and their respective
Subsidiaries; and 
 (i) Parent may pay cash in lieu of fractional Equity Interests in connection with any
dividend, split or combination thereof or any Permitted Acquisition. 
 SECTION 6.08 Transactions with Affiliates.

 Enter into, directly or indirectly, any transaction or series of related transactions, whether or not in the ordinary
course of business, with any Affiliate of any Company (other than between or among Borrowers and any Loan Party), other than any transaction or series of related transactions on terms and conditions at least as favorable to such Company as would
reasonably be obtained by such Company at that time in a comparable arm’s-length transaction with a person other than an Affiliate, except that the following shall be permitted: 

(a) Dividends permitted by Section 6.07; 

  
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 (b) Investments permitted by Sections 6.04(e) and (f);

 (c) reasonable and customary director, officer and employee compensation (including bonuses) and other
benefits (including retirement, health, stock option and other benefit plans) and indemnification arrangements, in each case approved by the Board of Directors of Holdings or such other Borrower; 

(d) transactions with customers, clients, suppliers, joint venture partners or purchasers or sellers of goods and
services, in each case in the ordinary course of business and otherwise not prohibited by the Loan Documents; 

(e) sales of Qualified Capital Stock of Parent to Affiliates of Borrowers not otherwise prohibited by the Loan Documents
and the granting of registration and other customary rights in connection therewith; 
 (f) any transaction with
an Affiliate where the only consideration paid by any Loan Party is Qualified Capital Stock of Parent; 
 (g) the
Transactions as contemplated by the Transaction Documents and the payment of fees and expenses in connection therewith; 
 (h) transactions with any person that becomes a Loan Party as a result of such transaction; 
 (i) the issuance of Equity Interests to any officer, director, employee or consultant of the Companies or any direct or indirect parent of Holdings or the Borrowers; 

(j) Investments, loans and other transactions by Holdings, the Borrowers and the Subsidiaries to the extent permitted
under this Article VI; 
 (k) employment and severance arrangements between any of the Companies and their
respective officers and employees in the ordinary course of business and transactions pursuant to stock option plans and employee benefit plans and arrangements; 

(l) payments by any of the Companies (and any direct or indirect parent thereof) pursuant to any tax sharing agreements on
customary terms to the extent attributable to the ownership or operation of the Companies; 
 (m) the payment of
customary fees and reasonable out-of-pocket costs to, and indemnities provided on behalf of, current and former directors, officers, employees and consultants of any of the Companies or any direct or indirect parent of the Companies in the ordinary
course of business to the extent attributable to the ownership or operation of the Companies; 
 (n) transactions
pursuant to permitted agreements in existence on the A&R Effective Date (and set forth on Schedule 6.08) or any amendment thereto to the extent such an amendment is not adverse to the interests of the Lenders in any material respect; and

  
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 (o) customary payments by the Companies to the Sponsor made for any
financial advisory, financing, underwriting or placement services or in respect of other investment banking activities (including in connection with acquisitions or divestitures), which payments are approved by the person making such payment in good
faith; provided, that, (i) no Default or Event of Default shall have occurred and be continuing, or shall result therefrom and (ii) such payments shall not exceed $10,000,000 in the aggregate during any fiscal year.

 SECTION 6.09 Financial Covenant. 
 (a) Minimum Fixed Charge Coverage Ratio. During the Revolving Availability Period, at any time when Excess Availability is less than, at any time, the greater of (i) the Threshold Basket
Amount and (ii) $35 million,, and until such time as Excess Availability is greater than the Threshold Basket Amount and $35 million for a period of twelve (12) or more consecutive days, permit the Consolidated Fixed Charge Coverage Ratio,
as of the last day of the most recently ended Test Period, to be less than 1.1 to 1.0. 
 (b) Right to Cure Consolidated
Fixed Charge Coverage Ratio. For purposes of determining compliance with the Consolidated Fixed Charge Coverage Ratio set forth in Section 6.09(a), any Net Cash Proceeds from the issuance of Qualified Capital Stock by Holdings that
has been contributed to Holdings as common equity or other equity on terms and conditions reasonably acceptable to the Administrative Agent on or prior to the day that is five (5) Business Days (the “Last Cure Date”) after the
day on which financial statements are required to be delivered for a fiscal quarter will, at the request of the Administrative Borrower, be included in the calculation of Consolidated Adjusted EBITDA for such fiscal quarter for the purposes of
determining compliance with such financial covenant for the Test Period as at the end of such fiscal quarter and any applicable subsequent Test Periods that include such fiscal quarter (any such equity contribution so included in the calculation of
Consolidated Adjusted EBITDA, a “Specified Equity Contribution”), provided that (i) in each 4 fiscal quarter period, there shall be at least two (2) fiscal quarters in respect of which no Specified Equity Contribution is
made, (ii) the amount of any Specified Equity Contribution shall be no greater than 120% of the amount required to cause the Loan Parties to be in compliance with the financial covenants set forth in this Agreement, (iii) all Specified
Equity Contributions shall be disregarded for purposes of determining any baskets, tests, or pro forma tests, with respect to the covenants contained in any applicable Loan Documents and (iv) to the extent such Net Cash Proceeds are
applied in prepayment of the Revolving Commitments following the last day of the relevant fiscal quarter and on or prior to the Last Cure Date, the Net Cash Proceeds shall be deducted when calculated net indebtedness for purposes of determining
compliance with the covenant set forth in Section 6.09(a). 
 SECTION 6.10 Prepayments of Other Indebtedness;
Modifications of Organizational Documents and Other Documents, etc. 
 Directly or indirectly: 

(a) make any payment or prepayment of principal on or redemption or acquisition for value of, or any prepayment or
redemption as a result of any asset sale, change of control or similar event of (collectively, a “Subordinated Debt Payment”), any Indebtedness outstanding under any Subordinated Indebtedness, except (i) any payment of
principal at scheduled maturity, (ii) a refinancing permitted by Section 6.01, (iii) any payment to the extent made with the proceeds of Qualified Capital Stock of Parent; (iv) prepayments or redemptions of Indebtedness

  
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outstanding under any Subordinated Indebtedness if such prepayments or redemptions do not in the aggregate exceed the then existing Available Amount Basket, provided, further, that
both before and after giving effect to such prepayment or redemption (I) Pro Forma Excess Availability shall be greater than the Threshold Basket Amount, (II) no Default or Event of Default shall have occurred or shall result therefrom and
(III) the Loan Parties shall be in compliance on a Pro Forma Basis with the covenant set forth in Section 6.09(a) at such time (tested without regard to whether or not such covenant is otherwise then being tested); (v) Subordinated
Debt Payments in the form of Equity Interests of Parent, or resulting from the conversion of such Subordinated Indebtedness to Equity Interests (other than Disqualified Capital Stock) of Parent; and (vi) Subordinated Debt Payments with the Net
Cash Proceeds of any Equity Issuances and/or the issuances of the High Yield Indebtedness for the purpose of making such Subordinated Debt Payment; or 
 (b) terminate, amend or modify, or permit the termination, amendment or modification of, any provision of (i) any document governing Subordinated Indebtedness, (ii) any Organizational Document
of any Company (it being agreed that changes that are not adverse to the material interests of the Lenders in their capacities as such shall not be subject to this clause (b)(ii)), (iii) any Seller Note Document (it being agreed that
changes that are not adverse to the material interests to the Lenders in their capacities as such shall not be subject to this clause (b)(iii)) or (iv) any Term Loan Document, which may be amended or modified as and to the extent, and
solely as and to the extent, set forth in the Revolver-Term Loan Intercreditor Agreement. 
 SECTION 6.11 Limitation on
Certain Restrictions on Subsidiary Guarantors. 
 Create or otherwise cause or suffer to exist or become effective any
encumbrance or restriction on the ability of any Subsidiary Guarantor to (a) pay dividends or make any other distributions on its capital stock or any other interest or participation in its profits owned by Borrowers or any Subsidiary
Guarantor, or pay any Indebtedness owed to Borrowers or a Subsidiary Guarantor, (b) make loans or advances to Borrowers or any Subsidiary Guarantor or (c) transfer any of its properties to Borrowers or any Subsidiary Guarantor, except for
such encumbrances or restrictions existing under or by reason of (i) applicable Requirements of Law; (ii) this Agreement and the other Loan Documents; (iii) the Term Loan Documents; (iv) solely in the case of Paulsboro, upon the
occurrence and during the continuance of a payment “Event of Default” (as defined in the Valero Seller Note Agreement) resulting from Paulsboro’s failure to make principal or interest payments in respect of the Valero Seller Note as
and when due under the Valero Seller Note Agreement; (v) customary provisions restricting subletting or assignment of any lease governing a leasehold interest of a Subsidiary Guarantor; (vi) customary provisions restricting assignment of
any agreement entered into by a Subsidiary Guarantor in the ordinary course of business; (vii) customary restrictions and conditions contained in any agreement relating to the sale of any property permitted under Section 6.06
pending the consummation of such sale; (viii) any agreement in effect at the time such Subsidiary becomes a Subsidiary Guarantor of Borrowers, so long as such agreement was not entered into in connection with or in contemplation of such person
becoming a Subsidiary Guarantor of Borrowers; (ix) any instrument governing Indebtedness assumed in connection with any Permitted Acquisition, which encumbrance or restriction is not applicable to any person, or the properties or assets of any
person, other than the person or the properties or assets of the person so acquired; (x) any Permitted Liens in respect of assets subject thereto; (xii) restrictions that exist on the A&R Effective Date and to the set forth in an
agreement evidencing Indebtedness, are set forth in any agreement evidencing any permitted renewal, extension or refinancing of such Indebtedness so long as such renewal, extension or refinancing does not expand the scope of such obligation;
(xiii) are customary provisions in joint venture agreements and other similar agreements or written arrangements applicable to joint ventures permitted hereunder and 

  
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applicable solely to such joint venture; (xiv) are customary restrictions on leases, subleases, licenses, asset sale or similar agreements, including with respect to intellectual property
and other similar agreements, otherwise permitted hereby so long as such restrictions relate to the assets subject thereto; (xv) are customary provisions restricting subletting or assignment of any lease governing a leasehold interest of any
Company; (xvi) are customary provisions restricting assignment of any agreement; (xvii) are restrictions on cash or other deposits imposed by customers under contracts entered into in the ordinary course of business or otherwise permitted
hereunder; (xviii) the Seller Note Documents, the DEDA Loan and Security Agreement, the Oil Supply Agreements and/or the Morgan Stanley Off-Take Agreements; (xix) obligations under any Hedging Agreements entered into with a Lender or an
Affiliate of a Lender; or (xx) customary provisions restricting assignment of any agreement entered into in connection with a Sale and Leaseback Transaction with respect to Catalyst Assets permitted under Section 6.03. 

SECTION 6.12 Business. 
 (a) With respect to Holdings, engage in any business activities or have any properties or liabilities, other than its ownership of the Equity Interests of Delaware City, Paulsboro and other (direct or
indirect) Subsidiaries and such other businesses in which Holdings is engaged on the Closing Date. 
 (b) With respect to
Paulsboro, Delaware City and the other (direct or indirect) Subsidiaries of Holdings, engage (directly or indirectly) in any business other than those businesses in which Paulsboro, Delaware City and the other then existing Subsidiaries of Holdings
are engaged on the Closing Date. 
 SECTION 6.13 Fiscal Year. 

Change its fiscal year-end to a date other than December 31. 

SECTION 6.14 Compliance with Anti-Terrorism Laws. 
 (a) Directly or indirectly, in connection with the Loans, knowingly (i) conduct any business or engage in making or receiving any contribution of funds, goods or services to or for the benefit of any
Embargoed Person, (ii) deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to any Anti-Terrorism Law or (iii) engage in or conspire to engage in any transaction that evades or
avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law. 
 (b) Directly or indirectly, in connection with the Loans, knowingly cause or permit any of the funds of such Loan Party that are used to repay the Loans to be derived from any unlawful activity with the
result that the making of the Loans would be in violation of any Anti-Terrorism Law. 
 (c) Knowingly cause or permit
(i) an Embargoed Person to have any direct or indirect interest in or benefit of any nature whatsoever in the Loan Parties or (ii) any of the funds or properties of the Loan Parties that are used to repay the Loans to constitute property
of, or be beneficially owned directly or indirectly by, an Embargoed Person. 
 (d) The Loan Parties shall deliver to the
Lenders any certification or other evidence requested from time to time by any Lender in its reasonable discretion, confirming the Loan Parties’ compliance with this Section 6.14. 

  
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 ARTICLE VII 
 GUARANTEE 
 SECTION 7.01 The Guarantee. 

The Loan Parties hereby jointly and severally guarantee, as a primary obligor and not as a surety to each Secured Party and their
respective successors and assigns, the prompt payment in full when due (whether at stated maturity, by required prepayment, declaration, demand, by acceleration or otherwise) of the principal of and interest on (including any interest, fees, costs
or charges that would accrue but for the provisions of the Title 11 of the United States Code after any bankruptcy or insolvency petition under Title 11 of the United States Code) the Loans made by the Lenders to, and the Notes held by each Lender
of, Borrowers, and all other Secured Obligations from time to time owing to the Secured Parties by any Loan Party under any Loan Document or any Hedging Agreement or Treasury Services Agreement entered into with a counterparty that is a Secured
Party, in each case strictly in accordance with the terms thereof (such obligations being herein collectively called the “Guaranteed Obligations”). The Loan Parties hereby jointly and severally agree that if Borrowers or other Loan
Party(ies) shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations, the Loan Parties will promptly pay the same in cash, without any demand or notice whatsoever, and that in the
case of any extension of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or
renewal. 
 SECTION 7.02 Obligations Unconditional. 

The obligations of the Loan Parties under Section 7.01 shall constitute a guaranty of payment and to the fullest extent
permitted by applicable Requirements of Law, are absolute, irrevocable and unconditional, joint and several, irrespective of the value, genuineness, validity, regularity or enforceability of the Guaranteed Obligations of Borrowers under this
Agreement, the Notes, if any, or any other agreement or instrument referred to herein or therein, or any substitution, release or exchange of any other guarantee of or security for any of the Guaranteed Obligations, and, irrespective of any other
circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or Loan Party (except for payment in full or an amendment or waiver adopted in accordance with Section 10.02 or any other
express provision set forth in a Loan Document). Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability of the Loan Parties hereunder which shall
remain absolute, irrevocable and unconditional under any and all circumstances as described above: 
 (i) at any
time or from time to time, without notice to the Loan Parties, the time for any performance of or compliance with any of the Guaranteed Obligations shall be extended, or such performance or compliance shall be waived; 

(ii) any of the acts mentioned in any of the provisions of this Agreement or the Notes, if any, or any other agreement or
instrument referred to herein or therein shall be done or omitted; 

  
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 (iii) the maturity of any of the Guaranteed Obligations shall be
accelerated, or any of the Guaranteed Obligations shall be amended in any respect, or any right under the Loan Documents or any other agreement or instrument referred to herein or therein shall be amended or waived in any respect or any other
guarantee of any of the Guaranteed Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; 
 (iv) any Lien or security interest granted to, or in favor of, Issuing Bank or any Lender or Agent as security for any of the Guaranteed Obligations shall fail to be perfected; or 

(v) the release of any other Loan Party pursuant to Section 7.09, Section 10.02 or
Section 10.16. 
 The Loan Parties hereby expressly waive diligence, presentment, demand of payment, protest and all
notices whatsoever, and any requirement that any Secured Party exhaust any right, power or remedy or proceed against Borrowers under this Agreement or the Notes, if any, or any other agreement or instrument referred to herein or therein, or against
any other person under any other guarantee of, or security for, any of the Guaranteed Obligations. The Loan Parties waive any and all notice of the creation, renewal, extension, waiver, termination or accrual of any of the Guaranteed Obligations and
notice of or proof of reliance by any Secured Party upon this Guarantee or acceptance of this Guarantee, and the Guaranteed Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this
Guarantee, and all dealings between Borrowers and the Secured Parties shall likewise be conclusively presumed to have been had or consummated in reliance upon this Guarantee. This Guarantee shall be construed as a continuing, absolute, irrevocable
and unconditional guarantee of payment without regard to any right of offset with respect to the Guaranteed Obligations at any time or from time to time held by Secured Parties, and the obligations and liabilities of the Loan Parties hereunder shall
not be conditioned or contingent upon the pursuit by the Secured Parties or any other person at any time of any right or remedy against Borrowers or against any other person which may be or become liable in respect of all or any part of the
Guaranteed Obligations or against any collateral security or guarantee therefor or right of offset with respect thereto. This Guarantee shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon the
Loan Parties and the successors and assigns thereof, and shall inure to the benefit of the Lenders, and their respective successors and assigns, notwithstanding that from time to time during the term of this Agreement there may be no Guaranteed
Obligations outstanding until payment in full thereof (other than Unasserted Contingent Obligations, or any amendment or waiver adopted in accordance with Section 10.02 or any other express provision set forth in a Loan Document).

 SECTION 7.03 Reinstatement. 
 The obligations of the Loan Parties under this Article VII shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of Borrowers or other Loan Party in
respect of the Guaranteed Obligations is rescinded or must be otherwise restored by any holder of any of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise. 

SECTION 7.04 Subrogation; Subordination. 
 Each Loan Party hereby agrees that until the payment and satisfaction in full in cash of all Guaranteed Obligations (other than Unasserted Contingent Obligations) and the expiration and termination of the
Commitments of the Lenders under this Agreement it shall waive any claim and shall not exercise any right or remedy, direct or indirect, arising by reason of any performance by it of its guarantee in

  
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Section 7.01, whether by subrogation or otherwise, against Borrowers or any other Loan Party of any of the Guaranteed Obligations or any security for any of the Guaranteed
Obligations. Any Indebtedness of any Loan Party permitted pursuant to Section 6.01(d) shall be subordinated to such Loan Party’s Secured Obligations in the manner set forth in the Intercompany Note evidencing such Indebtedness.

 SECTION 7.05 Remedies. 
 Subject to the terms of any applicable Intercreditor Agreement, the Loan Parties jointly and severally agree that, as between the Loan Parties and the Lenders, the obligations of Borrowers under this
Agreement and the Notes, if any, may be declared to be forthwith due and payable as provided in Section 8.01 (and shall be deemed to have become automatically due and payable in the circumstances provided in Section 8.01) for
purposes of Section 7.01, notwithstanding any stay, injunction or other prohibition preventing such declaration (or such obligations from becoming automatically due and payable) as against Borrowers and that, in the event of such
declaration (or such obligations being deemed to have become automatically due and payable), such obligations (whether or not due and payable by Borrowers) shall forthwith become due and payable by the Loan Parties for purposes of
Section 7.01. 
 SECTION 7.06 Instrument for the Payment of Money. 

Each Loan Party hereby acknowledges that the guarantee in this Article VII constitutes an instrument for the payment of money, and
consents and agrees that any Lender or Agent, at its sole option, in the event of a dispute by such Loan Party in the payment of any moneys due hereunder, shall have the right to bring a motion-action under New York CPLR Section 3213.

 SECTION 7.07 Continuing Guarantee. 
 The guarantee in this Article VII is a continuing guarantee of payment, and shall apply to all Guaranteed Obligations whenever arising. 

SECTION 7.08 General Limitation on Guarantee Obligations. 

In any action or proceeding involving any state corporate limited partnership or limited liability company law, or any applicable state,
federal or foreign bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of any Loan Party under Section 7.01 would otherwise be held or determined to be void, voidable,
invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under Section 7.01, then, notwithstanding any other provision to the contrary, the amount of such liability shall,
without any further action by such Loan Party, any Loan Party or any other person, be automatically limited and reduced to the highest amount (after giving effect to the right of contribution established in Section 7.10) that is valid
and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding. 
 SECTION
7.09 Release of Loan Parties. 
 If, in compliance with the terms and provisions of the Loan Documents, all or
substantially all of the Equity Interests of any Loan Party are sold or otherwise transferred (a “Transferred Guarantor”) to a person or persons, none of which is a Borrower or a Subsidiary Guarantor, such Transferred Guarantor
shall, upon the consummation of such sale or transfer, be automatically released from its obligations under this Agreement (including under Section 10.03 hereof) and its obligations to pledge and

  
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grant any Collateral owned by it pursuant to any Security Document and the pledge of such Equity Interests to the Administrative Agent pursuant to the Security Agreements shall be automatically
released, and, so long as Borrowers shall have provided the Agents such reasonable certifications or reasonable documents as any Agent shall reasonably request, the Administrative Agent shall take such actions as are necessary or reasonably
requested by the Borrowers to effect each release described in this Section 7.09 in accordance with the relevant provisions of the Security Documents. 
 SECTION 7.10 Right of Contribution. 
 Each Subsidiary Guarantor
hereby agrees that to the extent that a Subsidiary Guarantor shall have paid more than its proportionate share of any payment made hereunder, such Subsidiary Guarantor shall be entitled to seek and receive contribution from and against any other
Subsidiary Guarantor hereunder which has not paid its proportionate share of such payment. Each Subsidiary Guarantor’s right of contribution shall be subject to the terms and conditions of Section 7.04. The provisions of this
Section 7.10 shall in no respect limit the obligations and liabilities of any Subsidiary Guarantor to the Administrative Agent, the Issuing Bank, the Swingline Lender and the Lenders, and each Subsidiary Guarantor shall remain liable to
the Administrative Agent, the Issuing Bank, the Swingline Lender and the Lenders for the full amount guaranteed by such Subsidiary Guarantor hereunder. 
 EVENTS OF DEFAULT 
 SECTION 8.01 Events of Default.

 Upon the occurrence and during the continuance of the following events (“Events of Default”):

 (a) default shall be made in the payment of any principal of any Loan or any Reimbursement Obligation when and
as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment (whether voluntary or mandatory) thereof or by acceleration thereof or otherwise; 

(b) default shall be made in the payment of (i) any interest on any Loan or any Fee due under any Loan Document, when
and as the same shall become due and payable, and such default shall continue unremedied for a period of five (5) Business Days; or (ii) any other amount due under any Loan Document (other than an amount referred to in paragraph
(a) above), when and as the same shall become due and payable, and such default shall continue unremedied for a period of ten (10) Business Days; 
 (c) any representation or warranty made or deemed made by a Loan Party in or in connection with any Loan Document or the borrowings or issuances of Letters of Credit hereunder, or any representation,
warranty, statement or information contained in any written report, certificate, financial statement or other written instrument furnished by a Loan Party in connection with or pursuant to any Loan Document, shall prove to have been false or
misleading in any material respect when so made, deemed made or furnished; 
 (d) default shall be made in the
due observance or performance by any Loan Party of any covenant, condition or agreement contained in: (i) Sections 2.22, 5.02 (other than 5.02(d), for which default shall continue unremedied or shall not be waived for a
period of five (5) Business Days), 5.03(a), 5.08, 5.13, 5.15, 5.16 or in Article VI; or (ii) Section 5.17 and such default shall continue unremedied for a period of five
(5) Business Days; 

  
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 (e) default shall be made in the due observance or performance by any Loan
Party of any covenant, condition or agreement contained in any Loan Document (other than those specified in paragraphs (a), (b) or (d) immediately above) and such default shall continue unremedied or shall not be waived for a period of 30
days after written notice thereof from the Administrative Agent or any Lender to Borrowers; 
 (f) (i) any Loan
Party shall (A) fail to pay any principal or interest, regardless of amount, due in respect of any Indebtedness (other than any Obligation and any Hedging Obligation), when and as the same shall become due and payable beyond any applicable
grace period, or (B) fail to observe or perform any other term, covenant, condition or agreement contained in any agreement or instrument evidencing or governing any such Indebtedness if the effect of any failure referred to in this clause
(B) is to cause such Indebtedness to become due prior to its stated maturity or become subject to a mandatory offer purchase by the obligor; provided that, other than in the case of the Valero Seller Note, the Sunoco Seller Note, the
Oil Supply Agreements, the DEDA Loan and Security Agreement and the Term Loan Credit Agreement, it shall not constitute an Event of Default pursuant to this paragraph (f) unless the aggregate amount of all such Indebtedness referred to
in clauses (A) and (B) in respect of which a Default has occurred then exceeds $20,000,000 at any one time; provided that this clause shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or
transfer of the property or assets securing such Indebtedness, if such a sale or transfer is expressly permitted hereunder; 
 (ii) An “early termination event” or other similar event shall be incurred by any Loan Party in respect of any Hedging Obligation in an amount in excess of $20,000,000, which event shall extend
beyond any applicable cure periods or grace periods, provided that, in respect of Hedging Obligations of such Loan Party owed to the applicable counterparty at such time, the amount for purposes of this Section 8.01(f)(ii) shall
be the amount payable by on a net basis by such Loan Party to such counterparty as if all Hedging Agreements relating to such Hedging Obligations were terminated at such time) and provided, further, that such event in each case described in
this clause (f)(ii) is unremedied and is not waived by the holders of such Hedging Obligations; 
 (g) an
involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking (i) relief in respect of any Loan Party, or of a substantial part of the property of any Loan Party, under Title 11
of the U.S. Code, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law; (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar
official for any Loan Party or for a substantial part of the property of any Loan Party; or (iii) the winding-up or liquidation of any Loan Party; and such proceeding or petition shall continue undismissed for 90 days or an order or decree
approving or ordering any of the foregoing shall be entered; 
 (h) any Loan Party shall (i) voluntarily
commence any proceeding or file any petition seeking relief under Title 11 of the United States Code, as now constituted or hereafter amended, or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law;
(ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any 

  
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proceeding or the filing of any petition described in clause (g) above; (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator
or similar official for any Loan Party or for a substantial part of the property of any Loan Party; (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; (vi) become unable, admit in writing its inability or fail generally to pay its debts as they become due; (vii) take any action for the purpose of effecting any of the foregoing; or (viii) wind up or
liquidate (other than as permitted by Section 6.05); 
 (i) one or more judgments, orders or decrees
for the payment of money in an aggregate amount in excess of $20,000,000 shall be rendered against any Loan Party or any combination thereof and the same shall remain undischarged, unvacated or unbonded for a period of 30 consecutive days during
which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to levy upon properties of any Loan Party to enforce any such judgment; 

(j) one or more ERISA Events or similar events with respect to Foreign Plans shall have occurred that, in the opinion of
the Required Lenders, when taken together with all other such ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect or in the imposition of any Lien on any properties of a Loan Party; 

(k) any security interest and Lien purported to be created by any Security Document after delivery thereof shall cease to
be in full force and effect (other than in accordance with its terms), or shall cease to give the Administrative Agent, for the benefit of the Secured Parties, the Liens, rights, powers and privileges purported to be created and granted under such
Security Document (including a perfected first priority security interest in and Lien on all of the Revolving Credit Priority Collateral thereunder (except as otherwise expressly provided in such Security Document)) in favor of the Administrative
Agent, or shall be asserted by Borrowers or any other Loan Party not to be a valid, perfected, and in the case of Revolving Credit Priority Collateral, first priority (except as otherwise expressly provided in this Agreement or such Security
Document) security interest in or Lien on the Collateral covered thereby; except, in each case, described in this Section 8.01(k) to the extent that any such loss of force and effect, loss of benefit, Liens, rights, powers and
privileges, perfection or priority results from the failure of the Administrative Agent to maintain possession of certificates actually delivered to it representing securities pledged under the Security Documents or to file UCC continuation
statements; 
 (l) any Loan Document or any material provisions thereof shall at any time and for any reason be
declared by a court of competent jurisdiction to be null and void, or a proceeding shall be commenced by any Loan Party seeking to establish the invalidity or unenforceability thereof (exclusive of questions of interpretation of any provision
thereof), or any Loan Party shall repudiate or deny (in writing) any material portion of the Collateral, or any portion of its liability, Guarantee, or obligation for the Obligations; or 

(m) there shall have occurred a Change in Control; 
 then, and in every such event (other than an event with respect to the Borrowers described in paragraph (g) or (h) above), and at any time thereafter during the continuance of such event, the
Administrative Agent may, and at the request of the Required Lenders shall, by notice to Borrowers, take either or both of the following actions, at the same or different times: (i) terminate forthwith the Commitments and

  
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(ii) declare the Loans and Reimbursement Obligations then outstanding to be forthwith due and payable in whole or in part, whereupon the principal of the Loans and Reimbursement Obligations so
declared to be due and payable, together with accrued interest thereon and any unpaid accrued Fees and all other Obligations of Borrowers accrued hereunder and under any other Loan Document, shall become forthwith due and payable, without
presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived by Borrowers and the Loan Parties, anything contained herein or in any other Loan Document to the contrary notwithstanding; and in any event, with
respect to the Borrowers described in paragraph (g) or (h) above, the Commitments shall automatically terminate and the principal of the Loans and Reimbursement Obligations then outstanding, together with accrued interest thereon and any
unpaid accrued Fees and all other Obligations of Borrowers accrued hereunder and under any other Loan Document, shall automatically become due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby
expressly waived by Borrowers and the Loan Parties, anything contained herein or in any other Loan Document to the contrary notwithstanding. 
 SECTION 8.02 Application of Proceeds. 
 Subject to the terms of the
Intercreditor Agreements, the proceeds received by the Administrative Agent in respect of any sale of, collection from or other realization upon all or any part of the Collateral pursuant to the exercise by the Administrative Agent of its remedies
shall be applied, in full or in part, together with any other sums then held by the Administrative Agent pursuant to this Agreement and the other Loan Documents, promptly by the Administrative Agent as follows: 

(a) First, to the payment of all reasonable costs and expenses, fees, commissions and taxes of such sale,
collection or other realization including compensation to the Administrative Agent and its agents and counsel, and all expenses, liabilities and advances made or incurred by the Administrative Agent in connection therewith and all amounts for which
the Administrative Agent is entitled to indemnification pursuant to the provisions of any Loan Document, together with interest on each such amount at the highest rate then in effect under this Agreement from and after the date such amount is due,
owing or unpaid until paid in full; 
 (b) Second, to the payment of all other reasonable costs and
expenses of such sale, collection or other realization including compensation to the other Secured Parties and their agents and counsel and all costs, liabilities and advances made or incurred by the other Secured Parties in connection therewith,
together with interest on each such amount at the highest rate then in effect under this Agreement from and after the date such amount is due, owing or unpaid until paid in full; 

(c) Third, without duplication of amounts applied pursuant to clauses (a) and (b) above, to the
payment in full in cash, pro rata, of (A) interest and other amounts constituting Obligations (other than principal, Reimbursement Obligations and obligations to cash collateralize Letters of Credit) and any fees, premiums and scheduled
periodic payments due under Hedging Agreements, but excluding the Last-Out Portion, and/or Treasury Services Agreements constituting Secured Obligations and any interest accrued thereon, in each case equally and ratably in accordance with the
respective amounts thereof then due and owing; and (B) of principal amount of the Obligations and any premium thereon, including Reimbursement Obligations and obligations to cash collateralize Letters of Credit in accordance with the procedures
set forth in Section 2.18(i), and any breakage, termination or other payments under Hedging Agreements, but excluding the Last-Out Portion, and Treasury Services Agreements constituting Secured Obligations and any interest accrued
thereon; 

  
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 (d) Fourth, to the to the payment in full in cash, pro rata
(A) of interest and any fees, premiums and scheduled periodic payments due under Hedging Agreements; and (B) of principal amount and any premium thereon and any breakage, termination or other payments under Hedging Agreements, in the
case of clauses (A) and (B), constituting the Last-Out Portion; and 
 (e) Fifth, the balance, if
any, to the person lawfully entitled thereto (including the applicable Loan Party or its successors or assigns) or as a court of competent jurisdiction may direct. 
 In the event that any such proceeds are insufficient to pay in full the items described in clauses (a) through (d) of this Section 8.02, the Loan Parties shall remain liable, jointly
and severally, for any deficiency. Each Loan Party acknowledges the relative rights, priorities and agreements of the Term Loan Secured Parties, the Valero Seller Note Lender, the Sunoco Seller Note Lender and DEDA as set forth in the Revolver-Term
Loan Intercreditor Agreement, the Valero Seller Note Intercreditor Agreement, the Sunoco Seller Note Intercreditor Agreement and the DEDA Intercreditor Agreement, respectively. 
 ARTICLE IX 
 THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT

 SECTION 9.01 Appointment and Authority. 

Each of the Lenders and the Issuing Bank hereby irrevocably appoints UBS AG, Stamford Branch, to act on its behalf as the Administrative
Agent and UBS Collateral Agent and DB Collateral Agent to act on its behalf as Co-Collateral Agents hereunder and under the other Loan Documents and authorizes such Agents to take such actions on its behalf and to exercise such powers as are
delegated to such Agents 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 Co-Collateral Agents, the
Lenders and the Issuing Bank, and neither Borrowers nor any other Loan Party shall have rights as a third party beneficiary of any of such provisions. In the event that the Co-Collateral Agents disagree as to the exercise of any power that is
delegated jointly to the Co-Collateral Agents, such disagreement shall be settled as separately determined by them. 

SECTION 9.02 Rights as a Lender. 
 Each person serving as an 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 an Agent and the term
“Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each person serving as an Agent hereunder in its individual capacity. Such person and its Affiliates may accept
deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with Borrowers or any Subsidiary or other Affiliate thereof as if such person were not an Agent hereunder
and without any duty to account therefor to the Lenders. 

  
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 SECTION 9.03 Exculpatory Provisions. 

No Agent shall have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting
the generality of the foregoing, no Agent: 
 (i) shall be subject to any fiduciary or other implied duties,
regardless of whether a Default has occurred and is continuing; 
 (ii) shall 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 such 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 such Agent shall not be required to take any action that, in its judgment or the judgment of its counsel,
may expose such Agent to liability or that is contrary to any Loan Document or applicable Requirements of Law; and 
 (iii) shall, 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 Borrowers or
any of its Affiliates that is communicated to or obtained by the person serving as such Agent or any of its Affiliates in any capacity. 
 No Agent shall be liable for any action taken or not taken by it (x) 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 such Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section 10.02) or (y) in the absence of its own gross negligence or willful misconduct. No Agent shall be deemed to
have knowledge of any Default unless and until notice describing such Default is given to such Agent by Borrowers, a Lender or the Issuing Bank. 
 No Agent shall 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 (v) 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 such Agent. Without limiting the generality of the foregoing, the use of the term “agent” in
this Agreement with reference to the Administrative Agent or the Co-Collateral Agents is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead, such term us used
merely as a matter of market custom and is intended to create or reflect only an administrative relationship between independent contracting parties. 
 Each party to this Agreement acknowledges and agrees that the Administrative Agent may use an outside service provider for the tracking of all UCC financing statements required to be filed pursuant to the
Loan Documents and notification to the Administrative Agent, of, among other things, the upcoming lapse or expiration thereof, and that any such service provider will be deemed to be acting at the request and on behalf of Borrowers and the other
Loan Parties. No Agent shall be liable for any action taken or not taken by any such service provider. 

  
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 SECTION 9.04 Reliance by Agent. 

Each 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. Each 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
hereunder to the making of a Loan, or the issuance 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 the Administrative Agent shall have received notice to the contrary from such Lender or the Issuing Bank prior to the making of such Loan or the issuance of such Letter of Credit. Each Agent may consult with legal
counsel (who may be counsel for Borrowers), independent accountants and other experts selected by it, and shall be entitled to rely upon the advice of any such counsel, accountants or experts and shall not be liable for any action taken or not taken
by it in accordance with such advice. 
 SECTION 9.05 Delegation of Duties. 

Each 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, or delegate any and all such rights and powers to, any one or more sub-agents appointed by such Agent. Each 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 each Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the
credit facilities provided for herein as well as activities as Agent. 
 SECTION 9.06 Resignation of Agent.

 (a) Each Agent may at any time give notice of its resignation to the Lenders, the Issuing Bank and Borrowers. Upon
receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with Borrowers, 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 within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent may on behalf
of the Lenders and the Issuing Bank, appoint a successor Agent meeting the qualifications set forth above provided that if the Agent shall notify Borrowers and the Lenders that no qualifying person has accepted such appointment, then such
resignation shall nonetheless become effective in accordance with such notice and (1) the retiring 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 Issuing Bank under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security as nominee until such time as a successor
Administrative Agent is appointed) and (2) all payments, communications and determinations provided to be made by, to or through an 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 Agent as provided for above in this paragraph. Upon the acceptance of a successor’s appointment as Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and
duties of the retiring (or retired) Agent, and the retiring Agent shall be discharged from all of its duties and obligations hereunder 

  
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or under the other Loan Documents (if not already discharged therefrom as provided above in this paragraph). The fees payable by Borrowers to a successor Agent shall be the same as those payable
to its predecessor unless otherwise agreed between Borrowers and such successor. After the retiring Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article IX and Section 10.03 shall
continue in effect for the benefit of such retiring 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 Agent was acting as Agent. 

(b) Any resignation by UBS AG, Stamford Branch as Administrative Agent pursuant to Section 9.06(a) shall, unless UBS AG, Stamford
Branch gives notice to Borrowers otherwise, also constitute its resignation as Issuing Bank and Swingline Lender, and such resignation as Issuing Bank and Swingline Lender shall become effective simultaneously with the discharge of the
Administrative Agent from its duties and obligations as set forth in the immediately preceding paragraph (except as to already outstanding Letters of Credit and LC Obligations and Swingline Loans, as to which the Issuing Bank and the Swingline
Lender shall continue in such capacities until the LC Exposure relating thereto shall be reduced to zero and such Swingline Loans shall have been repaid, as applicable, or until the successor Administrative Agent shall succeed to the roles of
Issuing Bank and Swingline Lender in accordance with the next sentence and perform the actions required by the next sentence). Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, unless UBS AG, Stamford Branch
and such successor gives notice to Borrowers otherwise, (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing Bank and Swingline Lender and (ii) 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 to effectively assume the obligations of the
retiring Issuing Bank with respect to such Letters of Credit. At the time any such resignation of the Issuing Bank shall become effective, Borrowers shall pay all unpaid fees accrued for the account of the retiring Issuing Bank pursuant to
Section 2.05(c). 
 SECTION 9.07 Non-Reliance on Agent and Other Lenders. 

Each Lender and the Issuing Bank acknowledges that it has, independently and without reliance upon any Agent or any other Lender and
based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender further represents and warrants that it has had the opportunity to review the documents made
available to it on the Platform in connection with this Agreement and has acknowledged and accepted the terms and conditions applicable to the recipients thereof. Each Lender and the Issuing Bank also acknowledges that it will, independently and
without reliance upon any Agent or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any
other Loan Document or any related agreement or any document furnished hereunder or thereunder. 
 SECTION 9.08
Withholding Tax. 
 To the extent required by any applicable law, the Administrative Agent may withhold from any
payment to any Lender an amount equivalent to any applicable withholding tax. Without limiting the provisions of Section 2.15(a) or (c), each Lender and the Issuing Bank shall, and does hereby, indemnify the Administrative Agent, and
shall make payable in respect thereof within 30 days after demand therefor, against any and all Taxes and any and all related losses, claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative
Agent) incurred by or asserted 

  
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against the Administrative Agent by the Internal Revenue Service or any other Governmental Authority as a result of the failure of the Administrative Agent to properly withhold tax from amounts
paid to or for the account of any Lender for any reason (including, without limitation, because the appropriate form was not delivered or not property executed, or because such Lender failed to notify the Administrative Agent of a change in
circumstance that rendered the exemption from, or reduction of withholding tax ineffective). A certificate as to the amount of such payment or liability delivered to any Lender or the Issuing Bank by the Administrative Agent shall be conclusive
absent manifest error. Each Lender and the Issuing Bank hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or Issuing Bank under this Agreement or any other Loan Document against any
amount due the Administrative Agent under this Section 9.08. The agreements in this Section 9.08 shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement
of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. 

SECTION 9.09 No Other Duties, etc. 
 Anything herein to the contrary notwithstanding, none of the Joint Lead Bookmanagers, the Joint Lead Arrangers, Syndication Agent or Co-Documentation Agents 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, a Co-Collateral Agent, a Lender or the Issuing Bank hereunder. 

SECTION 9.10 Enforcement. 
 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, or as the Required Lenders may require or
otherwise direct, for the benefit of all the Lenders and the Issuing Bank; 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 Issuing Bank or the Swingline Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as
Issuing Bank 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, and subject to, the terms of this Agreement, 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 bankruptcy or insolvency law. 

  
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 ARTICLE X 
 MISCELLANEOUS 
 SECTION 10.01 Notices. 

(a) Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as
provided in paragraph (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 telecopier as follows:

  

	 	(i)	if to any Loan Party, to Holdings at: 

 PBF Holding Company LLC 
 1 Sylvan Way, 2nd Floor 

Parsippany, NJ 07054-3887 
 Attention: Jeffrey Dill 
 Telecopier No.: (973) 455-7562 

Email: jeffrey.dill@pbfenergy.com 
 with a copy to: 
 Kirkland & Ellis LLP 

601 Lexington Avenue 
 New York, New York 10022 
 Attention: Andres C. Mena, Esq. 

Telecopier No.: (212) 446-4900 
 Email: andres.mena@kirland.com 
  

	 	(ii)	if to the Administrative Agent, UBS Collateral Agent or Issuing Bank, to it at: 

 UBS AG, Stamford Branch 
 677 Washington Boulevard 

Stamford, Connecticut 06901 
 Attention: Mary E. Evans 
 Telecopier No.: (203) 719-3029 

Email: Mary.Evans@ubs.com 
 with a copy to: 
 Winston & Strawn LLP 

200 Park Avenue 

New York, New York 10166 
 Attention: William D. Brewer, Esq. 
 Telecopier No.: (212) 294-4700

 Email: wbrewer@winston.com 
  

	 	(iii)	if to DB Collateral Agent, to it at: 

 Deutsche Bank Trust Company Americas 
 60 Wall Street 

New York, NY 10005 
 Attention: Marcus M. Tarkington 
 Telecopier No.: (212) 553-3080 

Email: marcus.tarkington@db.com 

  
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 (iv) if to a Lender, to it at its address (or telecopier number) set forth
in its Administrative Questionnaire; and 
 (v) if to the Swingline Lender, to it at: 

UBS Loan Finance LLC 
 677 Washington Boulevard 
 Stamford, Connecticut 06901 

Attention: Mary E. Evans 
 Telecopier No.: (203) 719-3029 
 Email: mary.evans@ubs.com 

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 telecopier 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). Any party hereto may change its address or telecopier number for notices and other
communications hereunder by written notice to Borrowers, the Agents, the Issuing Bank and the Swingline Lender. 
 (b)
Electronic Communications. Notices and other communications to the Lenders and the Issuing Bank hereunder may (subject to the provisions of this Section 10.01) 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 or the Issuing Bank pursuant to Article II if such 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, the Co-Collateral Agents or Borrowers may, in their
discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it (including pursuant to the provisions of this Section 10.01); provided that approval
of such procedures may be limited to particular notices or communications. 
 Each Loan Party hereby agrees that it will provide to the
Administrative Agent all information, documents and other materials that it is obligated to furnish to the Administrative Agent or the Lenders pursuant to this Agreement and any other Loan Document, including all notices, requests, financial
statements, financial and other reports, certificates and other information materials (the “Communications”), by transmitting them in an electronic medium in a format reasonably acceptable to the Administrative Agent at
DL-UBSAGENCY@UBS.COM or at such other e-mail address(es) provided to Borrowers from time to time or in such other form as the Administrative Agent shall require. In addition, each Loan Party agrees to continue to provide the Communications to the
Administrative Agent in the manner specified in this Agreement or any other Loan Document or in such other form as the Administrative Agent shall require. Nothing in this Section 10.01 shall prejudice the right of the Agents, the Issuing
Bank, any Lender or any Loan Party to give any notice or other communication pursuant to this Agreement or any other Loan Document in any other manner specified in this Agreement or any other Loan Document or as any such Agent or the Issuing Bank,
as the case may be, shall require. 

  
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 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); provided that if such notice 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, 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 website address therefor. 
 To the
extent consented to by the Administrative Agent in writing from time to time, the Administrative Agent agrees that receipt of the Communications (other than 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 this Agreement prior to the scheduled date
therefor, (iii) provides notice of any Default under this Agreement or (iv) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement and/or any borrowing or other extension of credit hereunder)
by the Administrative Agent at its e-mail address(es) set forth above shall constitute effective delivery of the Communications to the Administrative Agent for purposes of the Loan Documents. 

(c) Platform. Each Loan Party further agrees that any Agent may make the Communications available to the Lenders by posting the
Communications on SyndTrak or a substantially similar secure electronic transmission system (the “Platform”). The Platform is provided “as is” and “as available.” The Agents do not warrant the accuracy or
completeness of the Communications, or 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 in connection with the Communications or the Platform. In no event shall any Agent or
any of its Related Parties have any liability to the Loan Parties, any Lender or any other person for damages of any kind, including direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or
otherwise) arising out of any Loan Party’s or such Agent’s transmission of communications through the Internet, except to the extent the liability of such person is found in a final non-appealable judgment by a court of competent
jurisdiction to have resulted from such person’s gross negligence or willful misconduct. 
 (d) Public/Private. Each
Loan Party hereby authorizes the Administrative Agent to distribute (i) to Private Siders all Communications, including any Communication that Borrowers identify in writing is to be distributed to Private Siders only (“Private Side
Communications”), and (ii) to Public Siders all Communications other than any Private Side Communication. “Private Siders” shall mean Lenders’ employees and representatives who have declared that they are
authorized to receive MNPI. “Public Siders” shall mean Lenders’ employees and representatives who have not declared that they are authorized to receive MNPI; it being understood that Public Siders may be engaged in investment
and other market-related activities with respect to Borrowers’ or their affiliates’ securities or loans. “MNPI” shall mean material non-public information (within the meaning of United States federal securities laws) with
respect to Borrowers, their affiliates and any of their respective securities. 
 Each Lender acknowledges that United States
federal and state securities laws prohibit any person from purchasing or selling securities on the basis of material, non-public information concerning the issuer of such securities or, subject to certain limited exceptions, from communicating such
information to any other person. Each Lender confirms that it has developed procedures designed to ensure compliance with these securities laws. 

  
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 Each Lender acknowledges that circumstances may arise that require it to refer to
Communications that may contain MNPI. Accordingly, each Lender agrees that it will use commercially reasonable efforts to designate at least one individual to receive Private Side Communications on its behalf in compliance with its procedures and
applicable law and identify such designee (including such designee’s contact information) on such Lender’s Administrative Questionnaire. Each Lender agrees to notify the Administrative Agent in writing from time to time of such
Lender’s designee’s e-mail address to which notice of the availability of Private Side Communications may be sent by electronic transmission. 
 Each Lender that elects not to be given access to Private Side Communications does so voluntarily and, by such election, (i) acknowledges and agrees that the Agents and other Lenders may have access
to Private Side Communications that such electing Lender does not have and (ii) takes sole responsibility for the consequences of, and waives any and all claims based on or arising out of, not having access to Private Side Communications.

 SECTION 10.02 Waivers; Amendment. 
 (a) Generally. No failure or delay by any Agent, the Issuing Bank or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor
shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights
and remedies of each Agent, the Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Loan Document
or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by this Section 10.02, and then such waiver or consent shall be effective only in the specific instance and for
the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether any Agent, any Lender or the Issuing Bank
may have had notice or knowledge of such Default at the time. No notice or demand on Borrowers in any case shall entitle Borrowers to any other or further notice or demand in similar or other circumstances. 

(b) Required Consents. Subject to Section 10.02(c), and (d) , neither this Agreement nor any other Loan
Document nor any provision hereof or thereof may be waived, amended, supplemented or modified except, in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by Borrowers and the Administrative Agent or, in the
case of any other Loan Document, pursuant to an agreement or agreements in writing entered into by the Administrative Agent, the Co-Collateral Agents (in the case of any Security Document) and the Loan Party or Loan Parties that are party thereto,
in each case with the written consent of the Required Lenders; provided that no such agreement shall be effective if the effect thereof would: 
 (i) increase the Commitment of any Lender without the written consent of such Lender (it being understood that no amendment, modification, termination, waiver or consent with respect to any condition
precedent, mandatory prepayment covenant or Default shall constitute an increase in the Commitment of any Lender); 

  
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 (ii) reduce the principal amount or premium, if any, of any Loan (except in
connection with a payment contemplated by clause (viii) below) or LC Disbursement or reduce the rate of interest thereon including any provision establishing a minimum rate (other than interest pursuant to Section 2.06(c)), or
reduce any Fees payable hereunder, or change the form or currency of a payment of any Obligation, without the written consent of each Lender directly affected thereby (it being understood that any amendment or modification to the financial
definitions in this Agreement shall not constitute a reduction in the rate of interest for purposes of this clause (ii) and it being understood that, for the avoidance of doubt, only the consent of the Required Lenders shall be required
to amend the definition of “Default Rate” or to waive any obligation of the Borrowers to pay interest or any other payment due hereunder or under any other Loan Document at the Default Rate); 

(iii) (A) change the scheduled final maturity of any Loan, (B) postpone the fixed date for payment of any
Reimbursement Obligation or any interest, premium or Fees payable hereunder, (C) reduce the amount of, waive or excuse any such payment (other than waiver of any increase in the interest rate pursuant to Section 2.06(c)), or
(D) postpone the scheduled date of expiration of any Commitment or any Letter of Credit beyond the Revolving Maturity Date, in any case, without the written consent of each Lender directly affected thereby; 

(iv) increase the maximum duration of Interest Periods hereunder, without the written consent of each Lender directly
affected thereby; 
 (v) permit the assignment or delegation by Borrowers of any of their rights or obligations
under any Loan Document, without the written consent of each Lender; 
 (vi) except pursuant to the Intercreditor
Agreements, release Borrowers or all or substantially all of the Subsidiary Guarantors from their Guarantee (except as expressly provided in Article VII), or limit their liability in respect of any such Guarantee, without the written consent
of each Lender; 
 (vii) except pursuant to the Intercreditor Agreements, release all or a substantial portion of
the Collateral from the Liens of the Security Documents or alter the relative priorities of the Secured Obligations entitled to the Liens of the Security Documents, in each case without the written consent of each Lender (it being understood that
additional Classes of Loans consented to by the Required Lenders may be equally and ratably secured by the Collateral with the then existing Secured Obligations under the Security Documents); 

(viii) change Section 2.14(b), (c) or (d) in a manner that would alter the pro rata
sharing of payments or setoffs required thereby or any other provision in a manner that would alter the pro rata allocation among the Lenders of Loan disbursements, including the requirements of Sections 2.02(a), 2.17(d) and
2.18(d), without the written consent of each Lender directly adversely affected thereby; 
 (ix) change
any provision of this Section 10.02(b) or Section 10.02(c) or (d), without the written consent of each Lender directly adversely affected thereby (except for additional restrictions on amendments or waivers for the
benefit of Lenders of additional Classes of Loans pursuant to Section 2.20 or consented to by the Required Lenders); 

  
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 (x) change the percentage set forth in the definition of “Required
Lenders,” or any other provision of any Loan Document (including this Section) specifying the number or percentage of Lenders (or Lenders of any Class) required to waive, amend or modify any rights thereunder or make any determination or grant
any consent thereunder, without the written consent of each Lender (or each Lender of such Class, as the case may be), other than to increase such percentage or number or to give any additional Lender or group of Lenders such right to waive, amend
or modify or make any such determination or grant any such consent; 
 (xi) subordinate the Obligations to any
other obligation, without the written consent of each Lender; 
 (xii) change or waive any provision of
Article X as the same applies to any Agent, or any other provision hereof as the same applies to the rights or obligations of any Agent, in each case without the written consent of such Agent; 

(xiii) change or waive any obligation of the Lenders relating to the issuance of or purchase of participations in Letters
of Credit, without the written consent of the Administrative Agent and the Issuing Bank; or 
 (xiv) change or
waive any provision hereof relating to Swingline Loans (including the definition of “Swingline Commitment”), without the written consent of the Swingline Lender; 
 provided, further, that (A) that no amendment or waiver that would change the definition of “Borrowing Base”, including, without limitation, the advance rates contained therein, the
definition of “Eligible Accounts” or “Eligible Hydrocarbon Inventory”, the definition of “Reserves”, the definition of “Hedging Reserves” or any other defined terms contained in the definition of
“Borrowing Base” in order to increase Borrowing Availability shall be effective unless the same shall be in writing and signed by Supermajority Lenders, the Borrowers and acknowledged by the Administrative Agent and the Co-Collateral
Agents and (B) any waiver, amendment or modification of the Intercreditor Agreements (and any related definitions) may be effected by an agreement or agreements in writing entered into by the Administrative Agent (with the consent of the
Required Lenders but without the consent of any Loan Party, so long as such amendment, waiver or modification does not impose any additional duties or obligations on the Loan Parties or alter or impair any right of any Loan Party under the Loan
Documents). 
 Notwithstanding anything to the contrary herein: 

(I) no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except
to the extent the consent of such Lender would be required under clause (i), (ii) or (iii) in the proviso to the first sentence of this Section 10.02(b) (it being understood that any Commitments or Loans held or deemed held by
any Defaulting Lender shall be excluded for purposes of a vote of the Lenders hereunder requiring any consent of the Lenders); and 
 (II) any Loan Document may be waived, amended, supplemented or modified pursuant to an agreement or agreements in writing entered into by Borrowers and the Administrative Agent (without the consent of any
Lender) solely to cure a defect or error, or to grant a new Lien for the benefit of the Secured Parties or extend an existing Lien over additional property; 

  
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 (c) Collateral. Without the consent of any other person, the applicable Loan Party or
Parties and the Administrative Agent and/or Co-Collateral Agents may (in its or their respective sole discretion, or shall, to the extent required by any Loan Document) enter into any amendment or waiver of any Loan Document, or enter into any new
agreement or instrument, to effect the granting, perfection, protection, expansion or enhancement of any security interest in any Collateral or additional property to become Collateral for the benefit of the Secured Parties, or as required by local
law to give effect to, or protect any security interest for the benefit of the Secured Parties, in any property or so that the security interests therein comply with applicable Requirements of Law. 

(d) Dissenting Lenders. If, in connection with any proposed change, waiver, discharge or termination of the provisions of this
Agreement as contemplated by Section 10.02(b), the consent of the Required Lenders is obtained but the consent of one or more of such other Lenders whose consent is required is not obtained, then Borrowers shall have the right to replace
all, but not less than all, of such non-consenting Lender or Lenders (so long as all non-consenting Lenders are so replaced) with one or more persons pursuant to Section 2.16(b) so long as at the time of such replacement each such new
Lender consents to the proposed change, waiver, discharge or termination. 
 SECTION 10.03 Expenses; Indemnity; Damage
Waiver. 
 (a) Costs and Expenses. Borrowers shall pay (i) all reasonable out-of-pocket expenses incurred by
the Administrative Agent, the Co-Collateral Agents and their respective Affiliates (including the reasonable and documented out-of-pocket fees, charges and disbursements of one (1) counsel, together with local counsel, as appropriate, for the
Administrative Agent and/or the Co-Collateral Agents) in connection with the syndication of the credit facilities provided for herein (including the obtaining and maintaining of CUSIP numbers for the Loans), the due diligence investigation, travel
expenses, preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendment, amendment and restatement, modification or waiver of the provisions hereof or thereof (whether or not the
transactions contemplated hereby or thereby shall be consummated), including in connection with post-closing searches to confirm that security filings and recordations have been properly made and including any reasonable and documented out-of-pocket
costs and expenses of the service provider referred to in Section 9.03, (ii) all reasonable and documented 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, (iii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent, the Co-Collateral Agents, any Lender or the Issuing Bank (including the reasonable and
documented out-of-pocket fees, charges and disbursements of one (1) counsel for the Administrative Agent and one (1) counsel for the other Lenders (absent actual conflict) and one (1) local counsel for the Secured Parties (absent
actual conflict) 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 10.03, or (B) in connection with the
Loans made or Letters of Credit issued hereunder, including all such reasonable and documented out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit and (iv) all
documentary and similar taxes and charges in respect of the Loan Documents. 
 (b) Indemnification by Borrowers.
Borrowers shall indemnify the Administrative Agent (and any sub-agent thereof), the Co-Collateral Agents (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 and reasonable out-of-pocket related expenses (including the reasonable out-of-pocket fees,

  
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charges and disbursements of one counsel for the Indemnitees, and if reasonably necessary, one local counsel to the Indemnitees in each relevant jurisdiction, and solely, in the case of conflicts
of interest, appropriate counsel in each applicable material jurisdiction to the affected Indemnitee) incurred by any Indemnitee or asserted against any Indemnitee by any party hereto or any third 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 amendment, amendment and restatement, modification or waiver of the provisions hereof or thereof, 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 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 or threatened Release of Hazardous Materials on, at, under or from any property owned, leased or operated by any Company at any time, or any Environmental Claim related in any way to any Company,
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 Borrowers or any other Loan Party,
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 (x) are determined
by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the bad faith, gross negligence or willful misconduct of such Indemnitee, (y) result from a claim brought by Borrowers or any other Loan Party
against an Indemnitee for material breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if Borrowers 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 or (z) result from any dispute solely among Indemnitees other than claims against any Joint Lead Arranger in its capacity or fulfilling its role as Administrative Agent, Co-Collateral Agent or
Joint Lead Arranger, as the case may be, and other than claims arising out of any act or omission on the part of the Borrowers, any Loan Party or their respective Affiliates. 
 (c) Reimbursement by Lenders. To the extent that Borrowers for any reason fail to pay in cash any amount required under paragraph (a) or (b) of this Section 10.03 to be paid
by it to the Administrative Agent (or any sub-agent thereof), the Co-Collateral Agents, the Issuing Bank, the Swingline Lender 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 Co-Collateral Agents (or any sub-agent thereof), the Issuing Bank, 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) of such unpaid amount (such indemnity shall be effective whether or not the related losses, claims, damages, liabilities and related expenses are incurred or asserted by any party hereto or any third party);
provided that (i) 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 Co-Collateral
Agents (or any sub-agent thereof), the Swingline Lender or 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 Co-Collateral Agents (or any
sub-agent thereof), the Swingline Lender or Issuing Bank in connection with such capacity and (ii) such indemnity for the Swingline Lender or the Issuing Bank shall not include losses incurred by the Swingline Lender or the Issuing Bank due to
one or more Lenders defaulting in their obligations to purchase participations of Swingline Exposure under Section 2.17(d) or LC Exposure under Section 2.18(d) or to make Revolving Loans under Section 2.18(e) (it
being understood that this proviso shall not affect the Swingline Lender’s or the Issuing Bank’s rights against any Defaulting Lender). The obligations of the Lenders under this paragraph (c) are subject to the provisions of
Section 2.14. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the total Revolving Exposure and unused Commitments at the time. 

  
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 (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable Requirements of Law, no party hereto shall assert, and each party hereto hereby waives, 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 paragraph (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. 
 (e) Payments. All amounts due under this Section shall be payable not later than 5 Business Days after written demand therefor. 

SECTION 10.04 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 Borrowers may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent, the Co-Collateral Agents, the Issuing Lender, the Swingline Lender and each
Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of paragraph (b) of this Section 10.04, (ii) by
way of participation in accordance with the provisions of paragraph (d) of this Section 10.04 or (iii) by way of pledge or assignment of a security interest subject to the restrictions of paragraph (f) of
this Section (and any other attempted assignment or transfer by Borrowers 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 paragraph (d) of this Section and, to the extent expressly contemplated hereby, the other Indemnitees) any legal or equitable right, remedy or claim under or
by reason of this Agreement. 
 (b) Assignments by Lenders. 

(i) Subject to the conditions set forth in paragraph (b)(ii) below, 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) with the prior written consent (such consent not to be unreasonably withheld or
delayed) of: 
 (A) Borrowers; provided that no consent of Borrowers shall be required for an assignment
to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing under Sections 8.01 (a), (b), (g) or (h), any other assignee; 

  
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 (B) the Administrative Agent; provided that no consent of the
Administrative Agent shall be required for an assignment of any Revolving Commitment to an assignee that is a Lender with a Revolving Commitment immediately prior to giving effect to such assignment; and 

(C) the Issuing Bank and the Swingline Lender. 

(ii) Assignments shall be subject to the following additional conditions: 

(A) except in the case of any assignment made in connection with the primary syndication of the Commitment and Loans by
the Joint Lead Arrangers or an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund with
respect to a Lender, 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 $5.0 million (with increments of $1.0 million in excess thereof), in the case of any assignment in respect of Revolving Loans and/or Revolving Commitments, unless each of the Administrative Agent and, so long as no
Default has occurred and is continuing, Borrowers otherwise consent (each such consent not to be unreasonably withheld or delayed); 
 (B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loan or the Commitment
assigned, except that this clause (ii) shall not prohibit any Lender from assigning all or a portion of its rights and obligations among separate tranches on a non-pro rata basis; and 

(C) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee of $3,500, and the Eligible Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c) of this Section 10.04, from and after the effective date specified in each
Assignment and Assumption, the Eligible Assignee thereunder shall be a party 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 2.12, 2.13, 2.15 and 10.03 with respect to facts and
circumstances occurring prior to the effective date of such assignment. 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 Section 10.04(d). 

  
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 (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
Borrowers, 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 (and stated interest) of the Loans and LC
Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and Borrowers, the Administrative Agent, the Issuing Bank and the Lenders shall
treat each person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by Borrowers, the
Issuing Bank (with respect to Revolving Lenders only), the Co-Collateral Agents, the Swingline Lender (with respect to Revolving Lenders only) and any Lender (with respect to its own interest only), at any reasonable time and from time to time upon
reasonable prior notice. This Section 10.04(c) shall be construed so that the Loans and Obligations are at all times maintained in “registered form” within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code.

 (d) Participations. Any Lender may at any time, without the consent of, or notice to, Borrowers, the Administrative
Agent, the Issuing Bank or the Swingline Lender sell participations to any person (other than a natural person or Borrowers or any of their Affiliates) (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) Borrowers, the Administrative Agent and the Lenders and Issuing Bank shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement. 
 Any agreement or instrument pursuant to which
a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce the Loan Documents and to approve any amendment, modification or waiver of any provision of the Loan Documents; 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 clause (i), (ii) or (iii) of the first proviso to
Section 10.02(b) that affects such Participant. Subject to paragraph (e) of this Section, Borrowers agree that each Participant shall be entitled to the benefits of Sections 2.12, 2.13 and 2.15 (subject
to the requirements of those Sections) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be
entitled to the benefits of Section 10.08 as though it were a Lender; provided such Participant agrees to be subject to Section 2.14 as though it were a Lender. 

Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrowers, maintain a register on which
it enters the name and address of each Participant and the principal amounts (and stated interest) of each participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”). 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. 
 (e) Limitations on Participant Rights. A Participant shall not be entitled to receive any
greater payment under Sections 2.12, 2.13 and 2.15 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such
Participant is made with Borrowers’ prior written consent (not to be unreasonably withheld or delayed). 

  
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 (f) 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. In the case of any Lender that is a fund that invests in bank loans, such Lender may, without the consent of Borrowers or the
Administrative Agent, collaterally assign or pledge all or any portion of its rights under this Agreement, including the Loans and Notes or any other instrument evidencing its rights as a Lender under this Agreement, to any holder of, trustee for,
or any other representative of holders of, obligations owed or securities issued, by such fund, as security for such obligations or securities. 
 (g) Electronic Execution of Assignments. The words “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption 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 Requirement of 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. 
 SECTION 10.05 Survival of Agreement. 

All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other
instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and 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 Agents, 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 (other than Unasserted Contingent Obligations) and unpaid or any Letter of Credit is outstanding (unless back stopped or cash collateralized in a manner reasonably acceptable to the Administrative Agent and the Issuing
Bank) and so long as the Commitments have not expired or terminated. The provisions of Sections 2.12, 2.14, 2.15 and Article X (other than Sections 10.02, 10.04, 10.08, 10.12, 10.14 and
10.19) shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the payment of the Reimbursement Obligations, the expiration or termination of the
Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof. 
 SECTION 10.06
Counterparts; Integration; Effectiveness. 
 This Agreement may be executed in counterparts (and by different parties
hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents, and any separate letter

  
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agreements with respect to fees payable to the Administrative Agent and the Lenders, 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 by telecopier or
other electronic transmission (i.e. a “pdf” or “tif” document) shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 10.07 Severability. 
 Any provision of this Agreement held
to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining
provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION 10.08 Right of Setoff. 
 If an Event of Default shall have
occurred and be continuing, each Lender, 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 Requirements of Law, to set off and apply any
and all deposits (general or special, time or demand, provisional or final, in whatever currency), but excluding accounts used solely for payroll, taxes, employee benefits or trust or fiduciary purposes, at any time held and other obligations (in
whatever currency) at any time owing by such Lender, the Issuing Bank or any such Affiliate to or for the credit or the account of Borrowers or any other Loan Party against any and all of the obligations of Borrowers or such Loan Party now or
hereafter existing under this Agreement or any other Loan Document to such Lender or the Issuing Bank, irrespective of whether or not such Lender or the Issuing Bank shall have made any demand under this Agreement or any other Loan Document and
although such obligations of Borrowers or such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender or the Issuing Bank different from the branch or office holding such deposit or obligated on such indebtedness.
The rights of each Lender, the Issuing Bank and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the Issuing Bank or their respective Affiliates may
have. Each Lender and the Issuing Bank agrees to notify Borrowers 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. 
 SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process. 

(a) Governing Law. This Agreement and the transactions contemplated hereby, and all disputes between the parties under or relating
to this Agreement or the facts or circumstances leading to its execution, whether in contract, tort or otherwise, shall be construed in accordance with and governed by the laws (including statutes of limitation) of the State of New York, without
regard to conflicts of law principles that would require the application of the laws of another jurisdiction. 

  
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 (b) Submission to Jurisdiction. Each party hereto hereby irrevocably and
unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to any Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all
claims in respect of any such action or proceeding 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 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 any other Loan Document shall affect any right that the
Administrative Agent, the Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against any Loan Party or its properties in the courts of any jurisdiction. 

(c) Venue. Each party hereto hereby irrevocably and unconditionally waives, to the fullest extent permitted by applicable
Requirements of Law, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in
Section 10.09(b). Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by applicable Requirements of 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 any action or
proceeding arising out of or relating to any Loan Document, in the manner provided for notices (other than telecopier) in Section 10.01. Nothing in this Agreement or any other Loan Document will affect the right of any party hereto to
serve process in any other manner permitted by applicable Requirements of Law. 
 SECTION 10.10 Waiver of Jury
Trial. 
 Each Loan Party hereby waives, to the fullest extent permitted by applicable Requirements of Law, any right it
may have to a trial by jury in any legal proceeding directly or indirectly arising out of or relating to this Agreement, any other Loan Document or the transactions contemplated hereby (whether based on contract, tort or any other theory). Each
party hereto (a) certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing waiver and
(b) acknowledges that it and the other parties hereto have been induced to enter into this Agreement by, among other things, the mutual waivers and certifications in this Section. 

SECTION 10.11 Headings. 
 Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into
consideration in interpreting, this Agreement. 
 SECTION 10.12 Treatment of Certain Information; Confidentiality.

 Each of the Administrative Agent, the Lenders and the Issuing Bank agrees to maintain the confidentiality of the Information
(as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, advisors and other representatives (it being understood that the
persons to whom such disclosure is made will 

  
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be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any Governmental Authority or regulatory
authority (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable Requirements of Law 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 an agreement containing provisions substantially the same as those of this Section 10.12, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or
obligations under this Agreement, (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to Borrowers and their obligations or (iii) any rating agency for the purpose of obtaining a
credit rating applicable to any Lender, (g) with the consent of Borrowers or (h) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to the
Administrative Agent, any Lender, the Issuing Bank or any of their respective Affiliates on a nonconfidential basis from a source other than Borrowers. For purposes of this Section, “Information” means all information received from
Loan Parties or any of their Subsidiaries or Affiliates relating to Loan Parties or any of their 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 Loan Parties or any of their Subsidiaries or Affiliates. 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. 

SECTION 10.13 USA PATRIOT Act Notice and Customer Verification. 

Each Lender that is subject to the USA PATRIOT Act and the Administrative Agent (for itself and not on behalf of any Lender) hereby
notify Borrowers that pursuant to the “know your customer” regulations and the requirements of the USA PATRIOT Act, they are required to obtain, verify and record information that identifies each Loan Party, which information includes the
name, address and tax identification number (and other identifying information in the event this information is insufficient to complete verification) that will allow such Lender or the Administrative Agent, as applicable, to verify the identity of
each Loan Party. This information must be delivered to the Lenders and the Administrative Agent no later than five days prior to the Closing Date and thereafter promptly upon request. This notice is given in accordance with the requirements of the
USA PATRIOT Act and is effective as to the Lenders and the Administrative Agent. 
 SECTION 10.14 Interest Rate
Limitation. 
 Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan,
together with all fees, charges and other amounts which are treated as interest on such Loan under applicable Requirements of Law (collectively, the “Charges”), shall exceed the maximum lawful rate (the “Maximum
Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable Requirements of Law, the rate of interest payable in respect of such Loan hereunder, together with all
Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall
be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds
Effective Rate to the date of repayment, shall have been received by such Lender. 

  
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 SECTION 10.15 Lender Addendum. 

Each Lender to become a party to this Agreement on the date hereof shall do so by delivering to the Administrative Agent a Lender
Addendum duly executed by such Lender, Borrowers and the Administrative Agent. 
 SECTION 10.16 Obligations
Absolute. 
 To the fullest extent permitted by applicable Requirements of Law, all obligations of the Loan Parties
hereunder shall be absolute and unconditional irrespective of: 
 (a) any bankruptcy, insolvency, reorganization,
arrangement, readjustment, composition, liquidation or the like of any Loan Party; 
 (b) any lack of validity or
enforceability of any Loan Document or any other agreement or instrument relating thereto against any Loan Party; 
 (c) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from any Loan
Document or any other agreement or instrument relating thereto; 
 (d) any exchange, release or non-perfection of
any other Collateral, or any release or amendment or waiver of or consent to any departure from any guarantee, for all or any of the Obligations; 
 (e) any exercise or non-exercise, or any waiver of any right, remedy, power or privilege under or in respect hereof or any Loan Document; or 

(f) any other circumstances which might otherwise constitute a defense (other than the defense of payment in full in cash)
available to, or a discharge of, the Loan Parties. 
 SECTION 10.17 Intercreditor Agreements. 

To the extent, if any, that there shall be a conflict between the terms of this Agreement or any other Loan Document, on the one hand,
and any Intercreditor Agreement, on the other hand, the terms of the applicable Intercreditor Agreement shall govern. 

SECTION 10.18 Release of Collateral. 
 (a) Upon the sale, lease, transfer or other disposition of any item of Collateral of any Loan Party (including, without limitation, as a result of the sale, in accordance with the terms of the Loan
Documents, of the Loan Party that owns such Collateral) in accordance with the terms of the Loan Documents, the Liens on such items of Collateral and guarantees by such Loan Parties are automatically released and the Administrative Agent will, at
the Borrowers’ expense, execute and deliver to such 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 Security
Documents in accordance with the terms of the Loan Documents and, if applicable, the release of such Subsidiary Guarantor from its obligations under the Guarantees. 

  
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 (b) Upon the payment in full of all Secured Obligations (other than (A) Unasserted
Contingent Obligations and (B) obligations and liabilities under Hedging Agreements and Treasury Services Agreements as to which arrangements satisfactory to the applicable counterparties to each such agreement shall have been made), the
cancellation or termination of the Commitments and the cancellation or expiration of all outstanding Letters of Credit (or the cash collateralization or back-stopping thereof on terms reasonably satisfactory to the Administrative Agent and Issuing
Bank), the security interest granted under the Security Documents (other than with respect to any cash collateral in respect of Letters of Credit) shall terminate and all rights to the Collateral shall revert to the applicable Loan Party. Upon any
such termination Administrative Agent will, at Borrowers’ expense, execute and deliver to the Loan Parties such documents as Borrowers shall reasonably request to evidence the repayment of the Obligations and such termination provided in this
Section 10.18. 
 SECTION 10.19 Permitted Amendments. 

(a) The Borrowers may, by written notice to the Administrative Agent from time to time, make one or more offers to all Lenders of an
applicable Class to make one or more Permitted Amendment Loans and/or Commitments pursuant to procedures reasonably specified by the Administrative Agent and reasonably acceptable to the Administrative Borrower. Such notice shall set forth
(i) the terms and conditions of the requested Permitted Amendment and (ii) the date by which responses from the applicable Lenders in respect of such Permitted Amendment are required to be received (which shall not be less than three
(3) Business Days after the date of such notice). Only those Lenders that consent to such Permitted Amendment (the “Accepting Lenders”) will have the maturity of their applicable Loans and Commitments extended and be entitled
to receive any increase in the Applicable Margin and any fees (including prepayment premiums or fees), in each case, as provided in such Permitted Amendment; provided, however, that if the initial yield on any Loans and/or Commitments
the final maturity date of which is extended pursuant to any Permitted Amendment (such Loans and/or Commitments, collectively, the “Permitted Amendment Loans and/or Commitments”) (as determined by the Administrative Agent to be
equal to the sum of (x) the Adjusted LIBOR Rate plus the Applicable Margin applicable to the Permitted Amendment Loans and/or Commitments and (y) if the Permitted Amendment Loans and/or Commitments are initially made at a discount or the
Lenders making the same receive a fee directly or indirectly from the Borrowers or any Subsidiary for doing so (the amount of such discount or fee, expressed as a percentage of the Permitted Amendment Loans and/or Commitments, being referred to
herein as the “Permitted Amendment Discount”), such Permitted Amendment Discount, divided by the lesser of (A) the average life to maturity of such Permitted Amendment Loans and/or Commitments and (B) four, exceeds by more than
75 basis points (the amount of such excess above 75 basis points being referred to herein as the “Permitted Amendment Yield Differential”) the Adjusted LIBOR Rate plus the Applicable Margin then in effect for any Class of Loans,
then the Applicable Margin then in effect for such Class of Loans, as applicable, shall automatically be increased by the Permitted Amendment Yield Differential, effective upon the making of the Permitted Amendment Loans and/or Commitments (and if
the Applicable Margin on the Permitted Amendment Loans and/or Commitments is subject to an Excess Availability-based pricing grid, appropriate increases to the other Applicable Margins for such Class of Loans, as applicable, consistent with the
foregoing, shall be made). 

  
 -157-

 (b) The Borrowers and each Accepting Lender shall execute and deliver to the Administrative
Agent such documentation as the Administrative Agent shall reasonably specify to evidence the acceptance of the Permitted Amendments and the terms and conditions thereof. The Administrative Agent shall promptly notify each Lender as to the
effectiveness of each Permitted Amendment. Each of the parties hereto hereby agrees that, upon the effectiveness of any Permitted Amendment, this Agreement shall be deemed amended, as may be necessary or appropriate, in the opinion of the
Administrative Agent, to effect the terms and provisions of the Permitted Amendment with respect to the Loans and Commitments of the Accepting Lenders (including any amendments necessary to treat the Loans and Commitments of the Accepting Lenders in
a manner consistent with the other Loans and Commitments under this Agreement). Notwithstanding the foregoing, no Permitted Amendment shall become effective under this Section 10.19 unless the Administrative Agent, to the extent so
reasonably requested by the Administrative Agent, shall have received board resolutions and officer’s certificates consistent with those delivered pursuant to Section 4.01. 

SECTION 10.20 Amendment and Restatement. 
 This Agreement amends and restates in its entirety the Existing Revolving Credit Agreement and upon the effectiveness of this Agreement, the terms and provisions of the Existing Revolving Credit Agreement
shall, subject to this Section 10.20, be superseded in all respects hereby. All references to the “Credit Agreement” contained in the Loan Documents delivered in connection with the Existing Revolving Credit Agreement or this
Agreement shall, and shall be deemed to, refer to this Agreement. Notwithstanding the amendment and restatement of the Existing Revolving Credit Agreement by this Agreement, the Secured Obligations of the Borrowers and the other Loan Parties
outstanding under the Existing Revolving Credit Agreement and the other Loan Documents as of the A&R Effective Date shall remain outstanding and shall constitute continuing Secured Obligations and shall continue as such to be secured by the
Collateral. Such Secured Obligations shall in all respects be continuing and this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of such Secured Obligations. The Liens securing payment of the Secured
Obligations under the Existing Revolving Credit Agreement, as amended and restated in the form of this Agreement, shall in all respects be continuing, securing the payment of all Secured Obligations. 

[Signature Pages Follow] 

  
 -158-

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

					
	PBF HOLDING COMPANY LLC, as a Borrower
		
	By:	 	/s/ Matthew Lucey
		 	Name:	 	Matthew Lucey
		 	Title:	 	Chief Financial Officer
	
	 PAULSBORO REFINING COMPANY LLC, as a Borrower

		
	By:	 	/s/ Matthew Lucey
		 	Name:	 	Matthew Lucey
		 	Title:	 	Chief Financial Officer
	
	 DELAWARE CITY REFINING COMPANY LLC, as a Borrower

		
	By:	 	/s/ Matthew Lucey
		 	Name:	 	Matthew Lucey
		 	Title:	 	Chief Financial Officer
	
	 TOLEDO REFINING COMPANY LLC, as a Borrower

		
	By:	 	/s/ Matthew Lucey
		 	Name:	 	Matthew Lucey
		 	Title:	 	Chief Financial Officer
	
	 PBF POWER MARKETING LLC, as a Subsidiary Guarantor

		
	By:	 	/s/ Matthew Lucey
		 	Name:	 	Matthew Lucey
		 	Title:	 	Chief Financial Officer
	
	 DELAWARE PIPELINE COMPANY LLC, as a Subsidiary Guarantor

		
	By:	 	/s/ Matthew Lucey
		 	Name:	 	Matthew Lucey
		 	Title:	 	Chief Financial Officer

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT] 

 
					
	 PBF INVESTMENTS LLC, as a Subsidiary Guarantor

		
	By:	 	/s/ Matthew Lucey
		 	Name:	 	Matthew Lucey
		 	Title:	 	Chief Financial Officer
	
	 PAULSBORO NATURAL GAS PIPELINE COMPANY LLC, as a Subsidiary Guarantor

		
	By:	 	/s/ Matthew Lucey
		 	Name:	 	Matthew Lucey
		 	Title:	 	Chief Financial Officer

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT] 

 
					
	 UBS SECURITIES LLC, as a Joint Lead Arranger, Syndication Agent and Co-Documentation
Agent

		
	By:	 	/s/ Mary E. Evans
		 	Name:	 	Mary E. Evans
		 	Title:	 	 Associate Director
 Banking
Products Services. US

		
	By:	 	/s/ Irja R. Otsa
		 	Name:	 	Irja R. Otsa
		 	Title:	 	 Associate Director
 Banking
Products Services. US

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT] 

 
					
	 UBS AG, STAMFORD BRANCH, as Issuing Bank, Administrative Agent and Co-Collateral Agent

		
	By:	 	/s/ Mary E. Evans
		 	Name:	 	Mary E. Evans
		 	Title:	 	 Associate Director
 Banking
Products Services. US

		
	By:	 	/s/ Irja R. Otsa
		 	Name:	 	Irja R. Otsa
		 	Title:	 	 Associate Director
 Banking
Products Services. US

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT] 

 
					
	 UBS LOAN FINANCE LLC, as Swingline Lender and a Lender.

		
	By:	 	/s/ Mary E. Evans
		 	Name:	 	Mary E. Evans
		 	Title:	 	 Associate Director
 Banking
Products Services. US

		
	By:	 	/s/ Irja R. Otsa
		 	Name:	 	Irja R. Otsa
		 	Title:	 	 Associate Director
 Banking
Products Services. US

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT] 

 
					
	 DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Co-Collateral Agent and as a Co-Documentation Agent and a
Lender.

		
	By:	 	/s/ Marcus M. Tarkington
		 	Name:	 	Marcus M. Tarkington
		 	Title:	 	Director
		
	By:	 	/s/ Michael Getz
		 	Name:	 	Michael Getz
		 	Title:	 	Vice President

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT] 

 
					
	 DEUTSCHE BANK SECURITIES INC., as a Joint Lead Arranger and Joint Lead Bookmanager and a
Lender.

		
	By:	 	/s/ Stephen Cunningham
		 	Name:	 	Stephen Cunningham
		 	Title:	 	Managing Director
		
	By:	 	/s/ Martin Arcar
		 	Name:	 	Martin Arcar
		 	Title:	 	Managing Director

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT] 

 
					
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

		
	By:	 	/s/ Mikhail Faybusovich
		 	Name:	 	Mikhail Faybusovich
		 	Title:	 	Director
		
	By:	 	/s/ Vipul Dhadda
		 	Name:	 	Vipul Dhadda
		 	Title:	 	Associate

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT] 

 
					
	 MORGAN STANLEY SENIOR FUNDING, INC., as a Joint Lead Arranger and a Lender

		
	By:	 	/s/ Melissa James
		 	Name:	 	Melissa James
		 	Title:	 	Vice President

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT .AGREEMENT] 

 
					
	MORGAN STANLEY BANK, N.A., as a Lender
		
	By:	 	/s/ Melissa James
		 	Name:	 	Melissa James
		 	Title:	 	Authorized Signatory

 [SIGNATURE PAGE TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT] 

 Annex I 
 Applicable Margin 
 The Applicable Margin will be determined pursuant to the
following grid: 
  

											
	 Level
	  	Average Daily Excess
Availability	  	Revolving Loans	 
	 	  	 	  	Eurodollar	 	 	ABR	 
	 Level I
	  	<$ 166,650,000	  	 	2.50	% 	 	 	1.50	% 
	 Level II
	  	<$333,300,000 but
3$166,650,000	  	 	2.25	% 	 	 	1.25	% 
	 Level III
	  	3$333,300,000	  	 	2.00	% 	 	 	1.00	% 

 Changes in the Applicable Margin will be based on the Average Daily Excess Availability for the
immediately preceding month and shall be determined on the first day of each month. Each change in the Applicable Margin shall be effective with respect to all Loans and Letters of Credit prospectively on the first day of each month. 

 SCHEDULES1 
 To 
 AMENDED AND RESTATED 

REVOLVING CREDIT AGREEMENT 
 dated as of May __, 2011, 
 among 

PBF HOLDING COMPANY LLC, 
 DELAWARE CITY REFINING COMPANY LLC, 
 PAULSBORO REFINING COMPANY LLC,

 and 
 TOLEDO REFINING COMPANY LLC, 
 as Borrowers, 

and 
 THE
OTHER LOAN PARTIES PARTY THERETO, 
 as Guarantors, 

THE LENDERS PARTY THERETO 
 and 
 UBS SECURITIES LLC, 

as Co-Documentation Agent and Syndication Agent, 
 and 
 UBS SECURITIES LLC, 

DEUTSCHE BANK SECURITIES INC., 
 MORGAN STANLEY SENIOR FUNDING, INC., 
 and 

CREDIT SUISSE, 
 as Joint Lead Arrangers and Joint Lead Bookmanagers 
 and 

UBS AG, STAMFORD BRANCH, 
 as Issuing Bank, Administrative Agent and a Co-Collateral Agent, 
 and

 DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as a Co-Collateral Agent and a Co-Documentation Agent 
 and

 UBS LOAN FINANCE LLC, 
 as Swingline Lender 
  

	1 	 These draft schedules remain subject to further review and comment by PBF. 

 TABLE OF CONTENTS 

 

					
	  	  	Page	 
		
	 Schedule 1.01(b) SUBSIDIARY GUARANTORS
	  	 	1	  
		
	 Schedule 2.22 BLOCKED ACCOUNTS
	  	 	2	  
		
	 Schedule 3.03 GOVERNMENTAL APPROVALS; COMPLIANCE WITH LAWS
	  	 	3	  
		
	 Schedule 3.06(c) VIOLATIONS OR PROCEEDINGS
	  	 	4	  
		
	 Schedule 3.08 LITIGATION
	  	 	5	  
		
	 Schedule 3.18 ENVIRONMENTAL MATTERS
	  	 	6	  
		
	 Schedule 3.19 INSURANCE
	  	 	7	  
		
	 Schedule 3.22 MATERIAL INVENTORY
	  	 	8	  
		
	 Schedule 6.01(b) EXISTING INDEBTEDNESS
	  	 	9	  
		
	 Schedule 6.02(c) EXISTING LIENS
	  	 	10	  
		
	 Schedule 6.04(b) EXISTING INVESTMENTS
	  	 	11	  
		
	 Schedule 6.08 TRANSACTIONS WITH AFFILIATES
	  	 	12	  

  
 i 

 Schedule 1.01(b)  

SUBSIDIARY GUARANTORS 
  

	1)	PBF Power Marketing LLC 

  

	2)	Delaware Pipeline Company LLC 

  

	3)	Paulsboro Natural Gas Pipeline Company LLC 

  

	4)	PBF Investments LLC 

  
 1 

 Schedule 2.22 
 BLOCKED ACCOUNTS 
  

					
	 JPMORGAN CHASE:
	  			
		
	 PBF HOLDING COMPANY - OPERATING
	  	 	A/C 844041749	  
	 DELAWARE CITY REFINING CO LLC - OPERATING
	  	 	A/C 844041772	  
	 DELAWARE CITY REFINING CO LLC - RECEIVABLES
	  			
		  	 	A/C 844041798	  
	 PBF INVESTMENTS - OPERATING
	  	 	A/C 921247359	  
	 DELAWARE PIPELINE - OPERATING
	  	 	A/C 844041764	  
	 PBF POWER MARKETING - OPERATING
	  	 	A/C 844041830	  

  
 2 

 Schedule 3.03 
 GOVERNMENTAL APPROVALS; COMPLIANCE WITH LAWS 
 None. 

  
 3 

 Schedule 3.06(c) 

VIOLATIONS OR PROCEEDINGS 
 None. 

  
 4 

 Schedule 3.08 
 LITIGATION 
 None. 

  
 5 

 Schedule 3.18 
 ENVIRONMENTAL MATTERS 
 None. 

  
 6 

 Schedule 3.19 
 INSURANCE 
 12/17/2010 - 12/17/2011 

 

									
	 Coverage
	  	Limits	 	  	Carrier	  	 Retention

	 Property
	  	 	$1,300,000,000	  	  	Various	  	$5,000,000 / 60 Days BI
	 Terrorism
	  	 	$1,000,000,000	  	  	Various	  	$5,000,000 / 60 Days BI
	 Automobile

(includes Terrorism)
	  	 	$1,000,000	  	  	Chartis	  	$0
	 General Liability

(includes Terrorism)
	  	 	$5,000,000	  	  	Chartis	  	$5,000,000
	 Workers Compensation

(includes Terrorism)
	  	 	$1,000,000	  	  		  	$500,000
	 Umbrella
	  	 	$25,000,000	  	  	ACE	  	
	 (includes Terrorism)
	  	 	$25M x/s $25M	  	  	Westchester	  	
		  	 	$50M x/s $50M	  	  	Axis/Endurance	  	
		  	 	$200M x/s $100M	  	  	Bermuda Markets	  	
		  	 	Total Limit: $300M	  	  		  	
	 TOTAL
	  				  		  	

  
 7 

 Schedule 3.22 
 MATERIAL INVENTORY 
 None. 

  
 8 

 Schedule 6.01(b) 

EXISTING INDEBTEDNESS 
 None. 

  
 9 

 Schedule 6.02(c) 

EXISTING LIENS 

None. 

  
 10 

 Schedule 6.04(b) 

EXISTING INVESTMENTS 
 None. 

  
 11 

 Schedule 6.08 
 TRANSACTIONS WITH AFFILIATES 
  

	1.	Limited Liability Company Agreement of PBF Energy Company LLC, dated as of June 1, 2010. 

 

	2.	Limited Liability Company Agreement of PBF Holding Company LLC, dated as of March 25, 2010. 

 

	3.	Limited Liability Company Agreement of Delaware City Refining Company LLC, dated as of March 25, 2010. 

 

	4.	Limited Liability Company Agreement of Delaware Pipeline Company LLC, dated as of March 25, 2010. 

 

	5.	Second Amended and Restated Limited Liability Company Agreement of Paulsboro Refining Company LLC, dated as of January 14, 2011. 

 

	6.	Second Amended and Restated Limited Liability Company Agreement of Paulsboro Natural Gas Pipeline Company LLC, dated as of January 14, 2011.

  

	7.	Second Amended and Restated Limited Liability Company Agreement of PBF Investments LLC, dated as of January 5, 2011. 

 

	8.	Limited Liability Company Agreement of PBF Power Marketing LLC, dated as of March 25, 2010. 

 

	9.	Limited Liability Company Agreement of PBF Services Company LLC, dated as of May 28, 2010. 

 

	10.	Limited Liability Company Agreement of Toledo Refining Company LLC, dated as of November 22, 2010. 

 

	11.	Agreement, dated as of March 8, 2011, by and among PBF Energy Company LLC, Blackstone PB Capital Partners V Subsidiary L.L.C., Blackstone PB Capital Partners VAC
L.P., Blackstone Family Investment Partnership V USS L.P., Blackstone Family Investment Partnership V - A USS SMD L.P., Blackstone Participation Partnership V USS L.P., FR PBF Holdings LLC, FR PBF Holdings II LLC, Tom O’Malley, Horse Island
Partners, Thomas D. O’Malley, Jr. and the other parties thereto. 

  

	12.	Agreement, dated as of October 4, 2010, by and among PBF Energy Company LLC, Blackstone PB Capital Partners V L.P., Blackstone PB Capital Partners V-AC L.P.,
Blackstone Family Investment Partnership V USS L.P., Blackstone Family Investment Partnership V - A USS L.P., Blackstone Participation Partnership V USS L.P., FR PBF Holdings LLC, FR PBF Holdings II LLC, Tom O’Malley, Horse Island Partners,
Thomas D. O’Malley, Jr., and the other parties thereto. 

  
 12 

	13.	Employment Agreement, dated as of March 1, 2008, by and between PBF Investments LLC and Don Lucey. 

 

	14.	Employment Agreement, dated as of March 1, 2008, by and between PBF Investments LLC and Matt Lucey. 

 

	15.	Employment Agreement, dated as of March 1, 2008, by and between PBF Investments LLC and Ken Isom. 

 

	16.	Employment Agreement, dated as of March 1, 2008, by and between PBF Investments LLC and Ed Jacoby. 

 

	17.	Employment Agreement, dated as of March 1, 2008, by and between PBF Investments LLC and James Yates. 

 

	18.	Employment Agreement, dated as of March 1, 2008, by and between PBF Investments LLC and Tom O’Malley. 

 

	19.	Employment Agreement, dated as of March 1, 2008, by and between PBF Investments LLC and Pat Doman. 

 

	20.	Employment Agreement, dated as of April 1, 2010, by and between PBF Investments LLC and Michael D. Gayda. 

 

	21.	Employment Agreement, dated as of April 1, 2010, by and between PBF Investments LLC and Thomas J. Nimbley. 

 

	22.	Employment Agreement, dated as of June 1, 2010, by and between PBF Investments LLC and James Fedena. 

 

	23.	Employment Agreement, dated as of May 17, 2010, by and between PBF Investments LLC and Jeffrey Dill. 

  
 13 

 EXHIBIT A 
 [Form of] 
 ADMINISTRATIVE QUESTIONNAIRE 

ADMINISTRATIVE QUESTIONNAIRE—PBF Holding Company LLC, et. al. 

 
  

							
	Lending Institution:	  	 
		
	Name for Signature Pages:	  	 
		  	Will sign Amended and Restated Revolving Credit Agreement:
		  	Will come via Assignment:	  	Number of Days post-closing:	  	 
		
	Name for Signature Blocks:	  	 
		
	Name for Publicity:	  	 
		
	Address:	  	 
				
	Main Telephone:	  	 	  		  	
				
	Telex No./Answer back:	  	 	  		  	

  

 
  

 
  

									
	CONTACT-Credit	  	Name:    	    	 
		  	Address:    	    	 
			
		  	Telephone:    	    	 
		  	Fax:    	    	 
			
	CONTACT-Operations	  	Name:    	    	 
		  	Address:    	    	 
			
		  	Telephone:    	    	 
		  	Fax:    	    	 

  

 
 PAYMENT INSTRUCTIONS 

 
  

									
		
	Bank Name:	  	 
	ABA/Routing No.:	  	 
	Account Name:	  	 
	Account No.:	  	 
	For further credit:	  	 
	Account No.:	  	 
	Attention:	  	 
	Reference:	  	 

  
 A-1

  

UBS AG, STAMFORD BRANCH, ADMINISTRATIVE DETAILS 

 
  

					
	 UBS AG, Stamford Branch
 677 Washington Boulevard
 Stamford, Connecticut 06901

Main Telephone: (203) 719-3000
	  	Account Administrator	 	Secondary Contact
	  	Attn: [                  ]
 Tel: [                    ]
 Fax: [                    ]
	 	Attn: [                  ]
 Tel: [                    ]
 Fax: [                    ]

		
	Wire Instructions:	  	The Agent’s wire instructions will be disclosed at the time of closing.

  
 A-2

 EXHIBIT B 
 [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 defined below, 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
participations in any Letters of Credit 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, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned 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]1]
			
	3.	  	Borrowers:	  	 PBF Holding Company LLC, Delaware City Refining Company LLC,
 Paulsboro Refining Company LLC and Toledo Refining Company LLC

		
	4.	  	Administrative Agent: UBS AG, Stamford Branch, as the administrative agent under the Credit Agreement

  

	1 	 Select as applicable. 

  
 C-2

 5. Credit Agreement: The Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (as
amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining
Company LLC, a Delaware limited liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company
(“Paulsboro”), Toledo Refining Company LLC, a Delaware limited liability company (“Toledo” and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a
“Borrower”), the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given it in Article I of the Credit Agreement), the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR
FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH as joint lead arrangers (in such capacities, “Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity,
“UBS Co-Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD
BRANCH, as Issuing Bank (in such capacity, “Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured Parties and Issuing Bank, and as a co-collateral agent (in
such capacity, “UBS Collateral Agent”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as
co-collateral agents, the “Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in such capacities as co-documentation
agents, the “Co-Documentation Agents”). 
 6. Assigned Interest: 

 

													
	 Facility Assigned
	  	Aggregate Amount
of
Commitment/Loans
for all Lenders	 	  	Amount
of
Commitment/
Loans
Assigned	 	  	Percentage
Assigned of
Commitment/
Loans2	 
	 Revolving Loans
	  	$	 	  	  	$	 	  	  	 	%	  

 [Page break]  
  

 

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

  
 C-3

 Effective Date:
                             , 201     [TO BE INSERTED BY
ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER
THEREFOR.]3 

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

 

			
	 ASSIGNOR

[NAME OF ASSIGNOR]

		
	By:	 	 
		 	Title:

  

			
	 ASSIGNEE

[NAME OF ASSIGNEE]

		
	By:	 	 
		 	Title:

  

			
	Consented to and Accepted:
	
	 [PBF HOLDING COMPANY LLC
 DELAWARE CITY REFINING COMPANY LLC
 PAULSBORO REFINING COMPANY LLC

TOLEDO REFINING COMPANY
LLC]4

		
	By:	 	 
		 	Name:
		 	Title:

  

			
	 UBS AG, STAMFORD BRANCH,
 as Administrative Agent and Issuing Bank

		
	By:	 	 
		 	Name:
		 	Title:

  

			
	By:	 	 
		 	Name:
		 	Title:

  

	3 	This date may not be fewer than 5 Business days after the date of assignment unless the Administrative Agent otherwise agrees. 

	4 	To be completed to the extent consent is required under Section 10.04(b). 

  
 C-4

			
	 UBS LOAN FINANCE,

as Swingline Lender

		
	By:	 	 
		 	Name:
		 	Title:

  

			
	By:	 	 
		 	Name:
		 	Title:

  
 C-5

 ANNEX 1 to Assignment and Assumption 

PBF HOLDING COMPANY LLC, et. al. 
 AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT 
 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 Borrowers, any of their respective Subsidiaries or Affiliates or any other person obligated in respect of any Loan Document or (iv) the performance or observance by Borrowers, any of their respective
Subsidiaries or Affiliates or any other person of any of their respective obligations under any Loan Document. 
 1.2.
Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated
hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement), (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 has received a copy of the
Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 5.01 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, (v) if
it is not already a Lender under the Credit Agreement, attached to the Assignment and Assumption an Administrative Questionnaire in the form of Exhibit A to the Credit Agreement, (vi) the Administrative Agent has received a processing
and recordation fee of $3,500 as of the Effective Date and (vii) if it is a Foreign Lender, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to Section 2.15 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 that by the terms of the Loan Documents
are required to be performed by it as a Lender. 

  
 C-6

 2. 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 that have accrued to but excluding the Effective Date and to the Assignee for amounts that have accrued
from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and permitted 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 telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be construed in accordance with
and governed by, the law of the State of New York without regard to conflicts of principles of law that would require the application of the laws of another jurisdiction. 

  
 C-7

 EXHIBIT C 
 [Form of] 
 BORROWING REQUEST 

UBS AG, Stamford Branch, 
 as Administrative
Agent for 
 the Lenders referred to below, 
 677 Washington Boulevard 
 Stamford, Connecticut 06901 

Attention: [                    ] 

Re: PBF Holding Company LLC, et. al 
 [Date] 
 Ladies and Gentlemen: 

Reference is made to the Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining Company LLC, a Delaware limited
liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company (“Paulsboro”), Toledo Refining
Company LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), the Subsidiary Guarantors
(such term and each other capitalized term used but not defined herein having the meaning given it in Article I of the Credit Agreement), the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers (in such capacities, “Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as
syndication agent (in such capacity, “Syndication Agent”),UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as Issuing Bank (in such capacity,
“Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured Parties and Issuing Bank, and as a co-collateral agent (in such capacity, “UBS Collateral
Agent”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as co-collateral agents, the
“Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in such capacities as co-documentation agents, the
“Co-Documentation Agents”). Administrative Borrower hereby gives you notice pursuant to Section 2.03 of the Credit Agreement that it requests a Borrowing, on behalf of the Borrowers, under the Credit Agreement, and in that
connection sets forth below the terms on which such Borrowing is requested to be made: 
  

					
	 (A)   Class of Borrowing
	  	[Revolving Borrowing]	  	
		  	[Swingline Loan]	  	

  
 C-8

					
	 (B)   Principal amount of Borrowing5
	 	 	  	
			
	 (C)   Date of Borrowing (which is a Business Day)
	 	 	  	
			
	 (D)   Type of Borrowing 
	 	[ABR] [Eurodollar]6	  	
			
	 (E)   Interest Period and the last day thereof7
	 	 	  	
	
	 (F)    Funds are requested to be disbursed to Borrowers’ account with UBS AG, Stamford
Branch (Account No.                     ).

 Administrative Borrower hereby represents and warrants that the conditions to lending specified in
Sections 4.03(b)-(e) of the Credit Agreement are satisfied as of the date hereof. 
 [Signature Page Follows] 

 

	5 	ABR and Eurodollar Loans must be in an amount that is at least $5,000,000 and an integral multiple of $1,000,000 or equal to the remaining available balance of the
applicable Commitments. Swingline Loans must be in an amount that is at least $1,000,000 and an integral multiple of $100,000. 

	6 	Shall be ABR for Swingline Loans. 

	7 	Shall be subject to the definition of “Interest Period” in the Credit Agreement. 

  
 C-9

 
			
	PBF HOLDING COMPANY LLC, as Administrative Borrower
		
	By:	 	 
		 	Name:
		 	Title:

  
 C-10

 EXHIBIT D 
 [Form of] 
 COMPLIANCE CERTIFICATE 

I, [            ], the [Financial Officer] of Administrative Borrower (in
such capacity and not in my individual capacity), hereby certify as of the date hereof that, with respect to that certain Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (as amended, amended and restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining Company LLC, a Delaware limited liability
company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company (“Paulsboro”) and Toledo Refining Company
LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), the Subsidiary Guarantors (such term
and each other capitalized term used but not defined herein having the meaning given it in Article I of the Credit Agreement), the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG,
CAYMAN ISLANDS BRANCH, as joint lead arrangers (in such capacities, “Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as syndication agent
(in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as Issuing Bank (in such capacity, “Issuing
Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured Parties and Issuing Bank, and as a co-collateral agent (in such capacity, “UBS Collateral Agent”) and
DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as co-collateral agents, the “Co-Collateral Agents”)
and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in such capacities as co-documentation agents, the “Co-Documentation Agents”): 

a. [Attached hereto as Schedule 1 are detailed calculations demonstrating compliance by Holdings and its
Subsidiaries (other than Excluded Subsidiaries) with Section 6.09(a) of the Credit Agreement. Holdings and its Subsidiaries (other than Excluded Subsidiaries) are in compliance with such Section as of the date hereof.] 8 [Attached hereto as Schedule 2 is the opinion of [accounting
firm.]]9 

 

	8 	To accompany annual and quarterly financial statements during the Revolving Availability Period, when Excess Availability is less than, at any time, the greater of
(i) the Threshold Basket Amount and (ii) $35 million until such time as Excess Availability is greater than the Threshold Basket Amount and $35 million for a period of twelve (12) or more consecutive days. Which calculations shall be
in reasonable detail satisfactory to the Administrative Agent and shall include, among other things, an explanation of the methodology used in such calculations and a breakdown of the components of such calculations. 

	9 	To accompany annual financial statements only. The opinion must opine that, such financial statements fairly present, in all material respects, the consolidated
financial condition, results of operations and cash flows of Holdings as of the dates and for the periods specified in accordance with GAAP consistently applied. 

  
 Footnote
continued on next page. 
 D-1 

 b. The Borrowers were in compliance with Section 6.09(a) of the Credit
Agreement at all applicable times (in accordance with Section 6.09(a)) since the last date of determination. 
 c. No Default has occurred under the Credit Agreement which has not been previously disclosed, in writing, to the Administrative Agent pursuant to a Compliance Certificate.10 

 
 Footnote continued from previous page.

  

	10 	 If a Default shall have occurred, an explanation specifying the nature and extent of such Default shall be provided on a separate page together with an
explanation of the corrective action taken or proposed to be taken with respect thereto (include, as applicable, information regarding actions, if any, taken since prior certificate). 

  
 D-2

 Dated this [    ] day of
[            ], 201[    ]. 
  

			
	PBF HOLDING COMPANY LLC, as Administrative Borrower
		
	By:	 	 
		 	Name:
		 	Title: [Financial Officer]

  
 D-3

 SCHEDULE 1 
 Financial Covenant 
  

			
	 (A)   Consolidated EBITDA
	 	
		
	 (1)    Consolidated Net Income for the four quarter period ended
[        ], 20[    ], plus
	 	_______________
		
	 (2)    Consolidated Interest Expense for such period, plus
	 	_______________
		
	 (3)    Consolidated Amortization Expense for such period, plus
	 	_______________
		
	 (4)    Consolidated Depreciation Expense for such period, plus
	 	_______________
		
	 (5)    Consolidated Tax Expense for such period, plus
	 	_______________
		
	 (6)    fees, costs, liabilities and expenses incurred in connection with the Transactions (not to exceed
$15,000,000) in the aggregate, plus
	 	_______________
		
	 (7)    the aggregate amount of all other non-cash charges, expenses or losses reducing Consolidated Net
Income (excluding any non-cash charge, expense or loss that results in an accrual of a reserve for cash charges in any future period and any non-cash charge, expense or loss relating to writeoffs, write-downs or reserves with respect to accounts or
inventory) for such period, plus
	 	_______________
		
	 (8)    any fees, charges and expenses incurred during such period (other than Consolidated Depreciation
Expense or Consolidated Amortization Expense), in connection with any acquisition, Investment, Asset Sale, other disposition of assets, issuance or repayment of Indebtedness, issuance of Equity Interests, refinancing transaction or amendment or
modification of any debt instrument (in each case, including any such transaction consummated prior to the Closing
	 	

  
 D-4

			
	 Date and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of
any such transaction (including, without limitation, any non-cash expenses or charges recorded in accordance with GAAP relating to equity interests issued to non-employees in exchange for services provided in connection with the Transactions),
plus
	 	_______________
		
	 (9)    the amount of any restructuring charges, integration costs, retention charges, stock option and any
other equity-based compensation expenses or other business optimization expenses, including, without limitation, costs associated with improvements to IT and accounting functions, costs associated with establishing new facilities, costs or reserves
deducted (and not added back) in such period in computing Consolidated Net Income, including any one-time costs incurred in connection with acquisitions after the Closing Date and costs related to the closure and/or consolidation of facilities,
plus
	 	_______________
		
	 (10)  any extraordinary, non-recurring or unusual gains or losses or expenses, severance, relocation costs or payments
and curtailments or modifications to pension and post-retirement employee benefit plans, plus
	 	_______________
		
	 (11)  any other non-cash charges, expenses or losses including any write offs or write downs reducing Consolidated Net
Income for such period and any non-cash expense relating to the vesting of warrants (provided that if any such non-cash charges represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in
such future period shall be subtracted from Consolidated EBITDA to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period), plus
	 	_______________
		
	 (12)  the amount of customary indemnities and expenses paid or accrued in such period to the Sponsors and deducted (and
not added back) in such period in computing Consolidated Net Income, in an aggregate amount not to exceed $3,000,000 in any fiscal year, plus
	 	_______________
		
	 (13)  any costs or expense incurred pursuant to any management equity plan or stock option plan or any other management
or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such cost or expenses are funded with cash proceeds by third Persons that are not Loan Parties contributed to the capital of Holdings or any
Subsidiary, plus
	 	_______________

  
 D-5

			
		
	 (14)  any net loss from disposed or discontinued operations, plus
	 	_______________
		
	 (15)  to the extent not already included in the Consolidated Net Income of such Person and its Subsidiaries,
not-withstanding anything to the contrary in the foregoing, Consolidated EBITDA shall include the amount of cash proceeds received from business interruption insurance and reimbursements of any expenses and charges that are covered by
indemnification or other reimbursement provisions in connection with any investment or any sale, conveyance, Credit Agreement, minus
	 	_______________
		
	 (16)  any net gain from disposed or discontinued operations minus,
	 	_______________
		
	 (17)  the aggregate amount of all non-cash items increasing Consolidated Net Income (other than the accrual of revenue
or recording of receivables in the ordinary course of business) for such period
	 	_______________
		
	 Consolidated EBITDA (the sum of (1)-(15) minus the sum of (16) and (17))
	 	_______________

  
 D-6

			
	 (B)   Minimum Consolidated Fixed Charge Ratio: Consolidated EBITDA to Consolidated Fixed Charges
	 	
	 Consolidated EBITDA for the four quarter period ended [            ],
201[    ], as calculated pursuant to clause (A) above.
	 	_______________
		
	Consolidated Fixed Charges Calculation:	 	
		
	 (1)    Consolidated Interest Expense (the sum of (a)-(i) below)
	 	_______________
		
	 (a)    the total consolidated interest expense of Holdings and its Subsidiaries (other than Excluded
Subsidiaries) for such period determined on a consolidated basis in accordance with GAAP plus, without duplication
	 	_______________
		
	 (b)    imputed interest on Capital Lease Obligations and Attributable Indebtedness of Holdings and its
Subsidiaries (other than Excluded Subsidiaries) for such period, plus
	 	_______________
		
	 (c)    commissions, discounts and other fees and charges owed by Holdings or any of its Subsidiaries (other
than Excluded Subsidiaries) with respect to letters of credit securing financial obligations, bankers’ acceptance financing and receivables financings for such period, plus
	 	_______________
		
	 (d)    amortization of debt issuance costs, debt discount or premium and other financing fees and expenses
incurred by Holdings or any of its Subsidiaries (other than Excluded Subsidiaries) for such period, plus
	 	_______________
		
	 (e)    cash contributions to any employee stock ownership plan or similar trust made by Holdings or any of
its Subsidiaries (other than Excluded Subsidiaries) to the extent such contributions are used by such plan or trust to pay interest or fees to any person (other than Delaware City, Paulsboro or any of their respective Wholly Owned Subsidiaries) in
connection with Indebtedness incurred by such plan or trust for such period, plus
	 	_______________
		
	 (f)     all interest paid or payable with respect to discontinued operations of Holdings or any of its
Subsidiaries (other than Excluded Subsidiaries) for such period, plus
	 	_______________
		
	 (g)    the interest portion of any deferred payment obligations of Holdings or any of its Subsidiaries (other
than Excluded Subsidiaries) for such period, plus
	 	_______________

  
 D-7

			
		
	 (h)    all interest on any Indebtedness of Holdings or any of its Subsidiaries (other than Excluded
Subsidiaries) of the type described in clause (f) or (k) of the definition of “Indebtedness” for such period, minus
	 	_______________
		
	 (i)     the total consolidated interest income of Holdings and its Subsidiaries (other than Excluded
Subsidiaries) for such period
	 	_______________
		
	 (2)    Consolidated Fixed Charges (the sum of (i)-(vi) below)
	 	_______________
		
	 (i)     Consolidated Interest Expense for such period, plus
	 	_______________
		
	 (ii)    the aggregate amount of Unfinanced Capital Expenditures of Holdings and its Subsidiaries (other than
Excluded Subsidiaries) for such period, plus
	 	_______________
		
	 (iii)  all cash payments in respect of income taxes of Holdings and its Subsidiaries (other than Excluded Subsidiaries
which are not part of the consolidated tax group of Holdings or any Subsidiary Guarantor) made during such period (net of any cash refund in respect of income taxes actually received during such period), plus
	 	_______________
		
	 (iv)   the principal amount of all scheduled amortization payments on all Indebtedness (including the principal
component of all Capital Lease Obligations) of Holdings and its Subsidiaries (other than Excluded Subsidiaries) for such period (as determined on the first day of the respective period), plus
	 	_______________
		
	 (v)    all cash dividend payments on any series of Disqualified Capital Stock of Holdings or any of its
Subsidiaries (other than Excluded Subsidiaries) (other than dividend payments to Borrowers or any of their Subsidiaries that are Subsidiary Guarantors), plus
	 	_______________
		
	 (vi)   all cash dividend payments on any Preferred Stock (other than Disqualified Capital Stock) of Holdings or
any of its Subsidiaries (other than Excluded Subsidiaries) (other than dividend payments to Borrowers or any of their Subsidiaries that are Subsidiary Guarantors)
	 	_______________

  
 D-8

			
		
	 Consolidated EBITDA to Consolidated Fixed Charges
	 	[    ]:1.00
		
	 Covenant Requirement
	 	Greater than or equal to 1.10:1.00

  
 D-9

 EXHIBIT E 
 [Form of] 
 INTEREST ELECTION REQUEST 

UBS AG, Stamford Branch, 

    as Administrative Agent 

677 Washington Boulevard 
 Stamford, Connecticut
06901 
 Attention: [                ] 

[Date] 
 Re:
PBF Holding Company LLC, et. al. 
 Ladies and Gentlemen: 
 This Interest Election Request is delivered to you pursuant to Section 2.08 of the Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining Company LLC, a Delaware limited
liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company (“Paulsboro”) and Toledo Refining
Company LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), the Subsidiary Guarantors
(such term and each other capitalized term used but not defined herein having the meaning given it in Article I of the Credit Agreement), the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers (in such capacities, “Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as
syndication agent (in such capacity, “Syndication Agent”),UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as Issuing Bank (in such capacity,
“Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured Parties and Issuing Bank, and as a co-collateral agent (in such capacity, “UBS Collateral
Agent”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as co-collateral agents, the
“Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in such capacities as co-documentation agents, the
“Co-Documentation Agents”): 

  
 E-1

 Administrative Borrower hereby requests that on
[                    ]11 (the “Interest Election Date”), 

1.
$[                    ] of the presently outstanding principal amount of the Loans originally made on
[                    ], 
 2. and all presently being maintained as [ABR Loans] [Eurodollar Loans], 
 3. be [converted into] [continued as], 
 4. [Eurodollar Loans
having an Interest Period of [one/two/three/six/nine/twelve] months] [ABR Loans]. 
 The undersigned hereby certifies that the
following statements are true on the date hereof, and will be true on the proposed Interest Election Date, both before and after giving effect thereto and to the application of the proceeds therefrom: 

(a) the foregoing [conversion] [continuation] complies with the terms and conditions of the Credit Agreement (including,
without limitation, Section 2.08 of the Credit Agreement); 
 (b) no Event Default has occurred and is
continuing, or would result from such proposed [conversion] [continuation]. 
 [Signature Page Follows] 

 
  

	11 	 Shall be a Business Day that is (a) the date hereof in the case of a conversion into ABR Loans to the extent this Interest Election Request is delivered to the Administrative Agent prior to 9:00
a.m., New York City time on the date hereof, otherwise the Business Day following the date of delivery hereof and (b) three Business Days following the date hereof in the case of a conversion into/continuation of Eurodollar Loans to the extent
this Interest Election Request is delivered to the Administrative Agent prior to 11:00 a.m. New York City time on the date hereof, otherwise the fourth Business Day following the date of delivery hereof, in each case. 

  
 E-2

 Administrative Borrower has caused this Interest Election Request to be executed and
delivered by its duly authorized officer as of the date first written above. 
  

			
	PBF HOLDING COMPANY LLC, as Administrative Borrower
		
	By:	 	 
		 	Name:
		 	Title:

  
 E-3

 EXHIBIT F 
 [Form of] 
 JOINDER AGREEMENT 

Reference is made to the Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining Company LLC, a Delaware limited
liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company (“Paulsboro”) and Toledo Refining
Company LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), the Subsidiary Guarantors
(such term and each other capitalized term used but not defined herein having the meaning given it in Article I of the Credit Agreement), the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers (in such capacities, “Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as
syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as Issuing Bank (in such capacity,
“Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured Parties and Issuing Bank, and as a co-collateral agent (in such capacity, “UBS Collateral
Agent”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as co-collateral agents, the
“Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in such capacities as co-documentation agents, the
“Co-Documentation Agents”). 
 W I T N E S S E T H: 

WHEREAS, the Subsidiary Guarantors, Borrowers and Holdings have entered into the Credit Agreement and the Security Agreement in order to
induce the Lenders to make the Loans and the Issuing Bank to issue Letters of Credit to or for the benefit of Borrowers; 

WHEREAS, pursuant to Section 5.10(b) of the Credit Agreement, each Subsidiary, other than an Excluded Subsidiary, [that was not in
existence on the date of the Credit Agreement] [that is an Eligible Subsidiary] [is required to become a [Subsidiary Guarantor][ Borrower]] [may become a Borrower] under the Credit Agreement by executing a Joinder Agreement. The undersigned
Subsidiary (the “New [Subsidiary Guarantor][Borrower]”) is executing this joinder agreement (“Joinder Agreement”) to the Credit Agreement in order to induce the Lenders to make additional Revolving Loans and the
Issuing Bank to issue Letters of Credit and as consideration for the Loans previously made and Letters of Credit previously issued. 
 NOW, THEREFORE, the Administrative Agent, Collateral Agent and the New [Subsidiary Guarantor][Borrower] hereby agree as follows: 
 1. [Guarantee][Borrower]. In accordance with Section 5.10(b) of the Credit Agreement, the New [Subsidiary Guarantor][Borrower] by its signature below becomes a [Subsidiary Guarantor][Borrower]
under the Credit Agreement with the same force and effect as if originally named therein as a [Subsidiary Guarantor][Borrower]. 

  
 F-1

 2. Representations and Warranties. The New [Subsidiary Guarantor][Borrower] hereby
(a) agrees to all the terms and provisions of the Credit Agreement applicable to it as a [Subsidiary Guarantor][Borrower] thereunder and (b) represents and warrants that the representations and warranties made by it as a [Subsidiary
Guarantor][Borrower] thereunder are true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all
respects) on and as of the date hereof. Each reference to a [Subsidiary Guarantor][Borrower] in the Credit Agreement shall be deemed to include the New [Subsidiary Guarantor][Borrower]. The New [Subsidiary Guarantor][Borrower]hereby attaches
supplements to each of the schedules to the Credit Agreement applicable to it. 
 3. Severability. Any provision of this
Joinder Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 4. Counterparts. This Joinder Agreement may be executed in counterparts, each of which shall constitute an original. Delivery of an executed signature page to this Joinder Agreement by facsimile
transmission shall be as effective as delivery of a manually executed counterpart of this Joinder Agreement. 
 5. No
Waiver. Except as expressly supplemented hereby, the Credit Agreement shall remain in full force and effect. 
 6.
Notices. All notices, requests and demands to or upon the New [Subsidiary Guarantor][Borrower], any Agent or any Lender shall be governed by the terms of Section 10.01 of the Credit Agreement. 

7. Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 
 [Signature Pages Follow] 

  
 F-2

 IN WITNESS WHEREOF, the undersigned have caused this Joinder Agreement to be duly executed
and delivered by their duly authorized officers as of the day and year first above written. 
  

			
	[NEW SUBSIDIARY GUARANTOR/BORROWER]
		
	By:	 	 
		 	Name:
		 	Title:
	
	Address for Notices:
	
	 UBS AG, STAMFORD BRANCH, as
 Administrative Agent

		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

  
 F-3

 [Note: Schedules to be attached.] 

  
 F-4

 Exhibit G 
 LANDLORD’S LIEN WAIVER, ACCESS AGREEMENT AND CONSENT 
 THIS
LANDLORD’S LIEN WAIVER, ACCESS AGREEMENT AND CONSENT (the “Agreement”) is made and entered into as of
                        , 201_ by and between
                                     (“Landlord”),
UBS AG, STAMFORD BRANCH, in its capacity as administrative agent for the Revolving Loan Secured Parties (as defined herein) and having an office at 677 Washington Boulevard, Stamford, Connecticut 06901 (in such capacity and together with any
successor administrative agent, the “Revolving Agent”) and UBS AG, STAMFORD BRANCH, in its capacity as administrative agent for the Term Loan Secured Parties (as defined herein) and having an office at 677 Washington Boulevard, Stamford,
Connecticut 06901 (in such capacity and together with any successor administrative agent, the “Term Loan Agent” and together with Revolving Agent, “Agents”). 

R E C I T A L S : 

A. Landlord is the record title holder and owner of the real property described in Schedule A attached hereto (the “Real
Property”). 
 B. Landlord has leased all or a portion of the Real Property (the “Leased Premises”) to
[                    ] (“Lessee”) pursuant to a certain lease agreement or agreements described in Schedule B attached hereto
(collectively, and as amended, amended and restated, supplemented or otherwise modified from time to time, the “Lease”). 
 C. Lessee and certain of Lessee’s affiliates have entered into a (i) Amended and Restated Revolving Credit Agreement (as amended, amended and restated, supplemented or otherwise modified from
time to time, the “Revolving Credit Agreement”) among PBF HOLDING COMPANY LLC, a Delaware limited liability company (“Holdings”), PAULSBORO REFINING COMPANY LLC, a Delaware limited liability company (“Paulsboro”),
DELAWARE CITY REFINING COMPANY LLC, a Delaware limited liability company (“Delaware City”), TOLEDO REFINING COMPANY LLC (“Toledo”, and together with Holdings, Paulsboro and Delaware City, the “Borrowers”), various
guarantors party thereto, the lenders from time to time party thereto, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers and joint
bookmanagers, UBS SECURITIES LLC, as a co-documentation agent and as syndication agent, UBS LOAN FINANCE LLC, as swingline lender , UBS AG, STAMFORD BRANCH, as issuing bank, as Revolving Agent and as a co-collateral agent and DEUTSCHE BANK TRUST
COMPANY AMERICAS, as a co-collateral agent and a co-documentation agent, pursuant to which the Revolving Lenders have agreed to make certain revolving loans to Borrowers (collectively, the “Revolving Loans”) and (ii) Term Loan Credit
Agreement (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Term Loan Credit Agreement” and together with the Revolving Credit Agreement, the “Credit Agreements”) among Holdings,
Paulsboro and Delaware City, as Borrowers, various guarantors party thereto, the lenders from time to time party thereto, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC. and DEUTSCHE BANK SECURITIES INC., as joint lead arrangers and joint
bookmanagers, UBS SECURITIES LLC, as documentation agent and as syndication agent and UBS AG, STAMFORD BRANCH, as Term Loan Agent and as collateral agent, pursuant to which the Term Loan Lenders have agreed to make certain term loans to Borrowers
(collectively, the “Term Loans”) . 

 D. For the purposes hereof: 

i. “Revolving Loan Secured Parties” shall mean, collectively, (a) Revolving Loan Agent, (b) any person
party to the Revolving Credit Agreement and the agreements, documents and instruments executed or delivered in connection therewith or related thereto as a lender, (c) the issuing bank or banks of letters of credit or similar instruments under
the Revolving Credit Agreement, (d) each other person to whom any of the Secured Obligations (as defined in the Revolving Credit Agreement) is owed and (e) the successors, replacements and assigns of each of the foregoing; and 

ii. “Term Loan Secured Parties” shall mean, collectively, (a) Term Loan Agent, (b) any person party to
the Term Loan Credit Agreement and the agreements, documents and instruments executed or delivered in connection therewith or related thereto as a lender, (c) each other person to whom any of the Secured Obligations (as defined in the Term Loan
Credit Agreement) is owed and (d) the successors, replacements and assigns of each of the foregoing. 

[E. [The Lessee is a subsidiary of a Borrower.] [Borrower is a subsidiary of the Lessee]1 

F. The Lessee has, pursuant to the Loan Agreement among other things guaranteed the obligations of the Borrower under the Loan Agreement
and to other Documents evidencing and securing the Loan (collectively, the “Loan Documents”).] 
 G. As security for
the payment and performance of Lessee’s Obligations under the applicable Credit Agreement and the other documents evidencing and securing the Loans (as such term is defined in each Credit Agreement) the Revolving Agent (for its benefit and the
benefit of the Revolving Loan Secured Parties) and Term Loan Agent (for its benefit and the benefit of the Term Loan Secured Parties) has or will acquire a security interest in and lien upon all of Lessee’s personal property, inventory,
accounts, goods, machinery, equipment, furniture and fixtures (together with all additions, substitutions, replacements and improvements to, and proceeds of, the foregoing, collectively, the “Personal Property”) 

H. Each of Revolving Agent and Term Loan Agent have requested that Landlord execute this Agreement as a condition precedent to the making
of the Loans under the respective Credit Agreements. 
 A G R E E M E N
T : 
 NOW, THEREFORE, for and in consideration of the premises and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Landlord hereby represents, warrants and agrees in favor of Revolving Agent and Term Loan Agent, as follows: 
 1. Landlord hereby waives and releases unto Agents (i) any contractual landlord’s lien and any other landlord’s lien which it may be entitled to at law or in equity against any Personal
Property, (ii) any and all rights granted by or under any present or future laws to levy or distrain for rent or any other charges which may be due to the Landlord against the Personal Property and (iii) any and all claims, liens and
demands of every kind which it has or may hereafter have against the Personal Property (including, without limitation, any right to include the Personal Property in any secured financing Landlord may become party to). Landlord acknowledges that the
Personal Property is and will remain personal property and not fixtures even though it may be affixed to or placed on the Real Property. 

 

	1 	 Include one of these alternatives if Borrower is not the Lessee. 

  
 -2-

 2. Landlord certifies that (i) Landlord is the landlord under the Lease described in
Schedule B attached hereto, (ii) the Lease is in full force and effect and has not been amended, modified or supplemented except as set forth in Schedule B hereto, (iii) there is no defense, offset, claim or counterclaim by
or in favor of Landlord against Lessee under the Lease or against the obligations of Landlord under the Lease and (iv) no notice of default has been given under or in connection with the Lease which has not been cured, and Landlord has no
knowledge of any occurrence of any other default under or in connection with the Lease, (v) Lessee is in possession of the Leased Premises, (vi) the current monthly base rent under the Lease is
$             per month, such monthly base rent due under the Lease has been paid through             ,
(vii) additional rent is $             and has been paid through             , and (viii) common area charges
are $             and have been paid through             . 

3. Landlord agrees that Agents have the right to remove the Personal Property from the Leased Premises at any time prior to the
occurrence of a default under the Lease and, after the occurrence of such a default, during the Standstill Period (as hereinafter defined) provided that Revolving Agent or Term Loan Agent, as applicable, shall repair any damage arising from
such removal. Landlord further agrees that, during the foregoing periods, Landlord will not (i) remove any of the Personal Property from the Leased Premises or (ii) hinder either of Agent’s actions in removing Personal Property from
the Leased Premises or either Agent’s actions in otherwise enforcing its security interest in the Personal Property. Neither Agent shall be liable for any diminution in value of the Leased Premises caused by the absence of Personal Property
actually removed or by the need to replace the Personal Property after such removal. Landlord acknowledges that neither Agent shall have any obligation to remove the Personal Property from the Leased Premises. 

4. Landlord acknowledges and agrees that Lessee’s granting of a security interest in the Personal Property in favor of the Revolving
Agent (for its benefit and the benefit of the Revolving Loan Secured Parties) and in favor of Term Loan Agent (for its benefit and the benefit of the Term Loan Secured Parties) shall not constitute a default under the Lease nor permit Landlord to
terminate the Lease or re-enter or repossess the Leased Premises or otherwise be the basis for the exercise of any remedy by Landlord and Landlord hereby expressly consents to the granting of such security interest. 

5. Notwithstanding anything to the contrary contained in this Agreement or the Lease, in the event of a default by Lessee under the
Lease, Landlord agrees that (i) it shall provide to Agents at the addresses set forth in the introductory paragraph hereof a copy of any notice of default delivered to Lessee under the Lease and (ii) it shall not exercise any of its
remedies against Lessee provided in favor of Landlord under the Lease or at law or in equity until, in the case of a monetary default, the date which is 45 days after the date the Landlord delivers written notice of such monetary default to Agents,
and in the case of a non-monetary default, the date which is 60 days after the date the Landlord delivers written notice of such non-monetary default to Lessee (such 45-day period for monetary defaults and such 60 day period for non-monetary
defaults, as applicable, being referred to as the “Standstill Period”), provided, however, if such non-monetary default by its nature cannot reasonably be cured by Revolving Agent within such 60 day period, the Revolving
Agent shall have such additional period of time as may be reasonably necessary to cure such non-monetary default, so long as Revolving Agent commences such curative measures within such 60 day period and thereafter proceeds diligently to complete
such curative measures. In the event that any such non-monetary default by its nature cannot reasonably be cured by Revolving Agent, Landlord shall, provided Revolving Agent has theretofore cured all monetary defaults (if any), upon the request of
Revolving Agent enter into a new lease with Revolving Agent 

  
 -3-

 
(or its nominee) on the same terms and conditions as the Lease. Revolving Agent shall have the right, but not the obligation, during the Standstill Period, to cure any such default and Landlord
shall accept any such cure by Revolving Agent or Lessee. If, during the Standstill Period, Revolving Agent or Lessee or any other Person cures any such default, then Landlord shall rescind the notice of default. 

6. In the event of a termination, disaffirmance or rejection of the Lease for any reason, including, without limitation, pursuant to any
laws (including any bankruptcy or other insolvency laws) by Lessee or the termination of the Lease for any reason by Landlord, Landlord will give the Revolving Agent the right, within sixty (60) days of such event, provided all monetary
defaults under the Lease have been cured, to enter into a new lease of the Leased Premises, in the name of the Revolving Agent (or a designee to be named by the Revolving Agent at the time), for the remainder of the term of the Lease and upon all of
the terms and conditions thereof, or, if the Revolving Agent shall elect not to exercise such right (such election to be made by Revolving Agent at its sole discretion), Landlord will give the Agents the right to enter upon the Leased Premises
during such sixty (60) day period for the purpose of removing Tenant’s personal property therefrom. 
 7.
Notwithstanding any provision to the contrary contained in the Lease, any acquisition of Lessee’s interest by Revolving Agent, its nominee, or the purchaser at any foreclosure sale conducted by Revolving Agent shall not create a default under,
or require Landlord’s consent under, the Lease. 
 8. The terms and provisions of this Agreement shall inure to the benefit
of and be binding upon the successors and assigns of Landlord (including, without limitation, any successor owner of the Real Property) and Agents. Landlord will disclose the terms and conditions of this Agreement to any purchaser or successor to
Landlord’s interest in the Leased Premises. Notwithstanding that the provisions of this Agreement are self-executing, Landlord agrees, upon request by either Agent, to execute and deliver a written acknowledgment confirming the provisions of
this Agreement in form and substance satisfactory to Agents. 
 9. All notices to any party hereto under this Agreement shall be
in writing and sent to such party at its respective address set forth above (or at such other address as shall be designated by such party in a written notice to the other party complying as to delivery with the terms of this Section 7) by
certified mail, postage prepaid, return receipt requested or by overnight delivery service. 
 10. The provisions of this
Agreement shall continue in effect until Landlord shall have received each Agent’s written certification that the Loans (as defined in each Credit Agreement) have been paid in full and all of Borrower’s other Obligations under the Credit
Agreements and any other related loan documents have been satisfied. 
 11. THE INTERPRETATION, VALIDITY AND ENFORCEMENT OF THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF. 
 12. Landlord agrees to execute, acknowledge and deliver such further instruments as Agents may request to allow for the proper recording of this Agreement (including, without limitation, a revised
landlord’s waiver in form and substance sufficient for recording) or to otherwise accomplish the purposes of this Agreement. 

  
 -4-

 13. Landlord agrees that, so long as the Lessee’s Obligations under the Credit
Agreements remain outstanding and Collateral Agent retains an interest in the Personal Property, no modification, alteration or amendment shall be made to the Lease without the prior written consent of Agents if such modification, alteration or
amendment could have a material adverse effect on the value or use of the Leased Premises or Lessee’s obligations or rights under the Lease. 
 14. To the extent, if any, that there shall be a conflict between the terms of this Agreement and the terms of the Revolver-Term Loan Intercreditor Agreement (as defined in each Credit Agreement), the
terms of the Revolver-Term Loan Intercreditor Agreement shall govern. 

  
 -5-

 IN WITNESS WHEREOF, Landlord and Collateral Agent have caused this Agreement to be duly
executed and delivered by their duly authorized officers as of the date first above written. 
  

			
	                           
                                         
    ,
	as Landlord
		
	By:	 	 
		 	Name:
		 	Title:
	
	 UBS AG, STAMFORD BRANCH,
 as Revolving Agent

		
	By:	 	 
		 	Name:
		 	Title:
	
	 UBS AG, STAMFORD BRANCH,
 as Term Loan Agent

		
	By:	 	 
		 	Name:
		 	Title:

							
	 State of
                    
	  	 	)	  	  	
		  	 	)	  	  	ss:
	County of                     	  	 	)	  	  	

 On the              day of
                     in the year              before me personally came
                                         
    to me known, who, being by me duly sworn, did depose and say that he/she resides in
                                     (include the street
address if in a city); that he/she is the
                                         
        of
                                         
        (name of corporation), the corporation described in and which executed the above instrument; and that he/she signed his/her name thereto by authority of the board of directors of said corporation.

  

	
	  
	Notary Public

 My Commission Expires: 
                                  
                            

							
	 State of
                    
	  	 	)	  	  	
		  	 	)	  	  	ss:
	County of                     	  	 	)	  	  	

 On the             day of
                ,             , before me personally came
                                         
            to me known to be the individual who executed the foregoing instrument, and who, being duly sworn by me, did depose and say that he/she is (the)(a) (member) (manager) of
                                         
               , a
                                 Limited Liability Company, and that he/she has
authority to sign the same, and acknowledged that he/she executed the same as the act and deed of the Limited Liability Company. 
  

	
	  
	Notary Public

 My Commission Expires: 
                                  
                            

 Schedule A 
 Description of Real Property 

 Schedule B 
 Description of Leases 
  

									
	 Lessor
	  	Lessee	  	Dated	  	Modification	  	Location/ Property Address

 EXHIBIT H 
 [Form of] 
 LC REQUEST [AMENDMENT] 

Dated
(12) 

UBS AG, Stamford Branch, as Administrative Agent under the Amended and Restated Revolving Credit Agreement dated as of May 31, 2011
(as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City
Refining Company LLC, a Delaware limited liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company
(“Paulsboro”) and Toledo Refining Company LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a
“Borrower”), the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given it in Article I of the Credit Agreement), the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR
FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers (in such capacities, “Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity,
“UBS Co-Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD
BRANCH, as Issuing Bank (in such capacity, “Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured Parties and Issuing Bank, and as a co-collateral agent (in
such capacity, “UBS Collateral Agent”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as
co-collateral agents, the “Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in such capacities as co-documentation
agents, the “Co-Documentation Agents”). 
 677 Washington Boulevard 
 Stamford, Connecticut 06901 
 Attention:
[                    ] 
 [Name and Address
of Issuing Bank 
 if different from Administrative Agent] 
 Ladies and Gentlemen: 
 We hereby request that [name of
proposed Issuing Bank], as Issuing Bank under the Credit Agreement, [issue] [amend] [renew] [extend] [a] [an existing] [Standby] [Commercial] Letter of Credit for the account of the
undersigned(13) on (14) (the “Date of [Issuance] [Amendment] [Renewal]
[Extension]”) in the aggregate stated amount of (15).
[Such Letter of Credit was originally issued on [date].] The requested Letter of Credit [shall be] [is] denominated in [Dollars] [Alternate Currency]. 

 

	12 	 Date of LC Request. 

	13 	 Note that if the LC Request is for the account of a Subsidiary, Borrower shall be a co-applicant, and be jointly and severally liable, with respect to
each Letter of Credit issued for the account or in favor of any Subsidiary. 

	14 	 Date of Issuance [Amendment] [Renewal] [Extension] which shall be at least five Business Days after the date of this LC Request, if this LC Request is
delivered to the Issuing Bank by 11:00 a.m., New York City time (or such shorter period as is acceptable to the Issuing Bank). 

	15 	 Aggregate initial stated amount of Letter of Credit. 

  
 H-1

 For purposes of this LC Request, unless otherwise defined herein, all capitalized terms used
herein which are defined in the Credit Agreement shall have the respective meaning provided therein. 
 The
beneficiary of the requested Letter of Credit [will be] [is] (16), and such Letter of Credit [will be] [is] in support of (17) and [will have] [has] [a stated expiration date of] [shall be an Auto-Renewal Letter of Credit] (18). [Describe the nature of the amendment, renewal or extension.] 

The undersigned hereby certifies as of the date hereof that: 

(1) [As of today and at the time of and immediately after giving effect to the [issuance] [amendment]
[extension] [renewal]19 of the Letter of Credit requested
herein, no Default has or will have occurred and be continuing. 
 (2) Each of the
representations and warranties made by any Loan Party set forth in any Loan Document are true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse
Effect” is true and correct in all respects) on and as of today’s date and with the same effect as though made on and as of today’s date, except to the extent such representations and warranties expressly relate to an earlier
date.20 

 

	16 	 Insert name and address of beneficiary. 

	17 	 Insert description of the obligation to which it relates in the case of Standby Letters of Credit and a description of the commercial transaction which
is being supported in the case of Commercial Letters of Credit. 

	18 	 Insert last date upon which drafts may be presented which may not be later than the earlier of (x) the date which is 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 (y) the Letter of Credit Expiration Date. However, Administrative Borrower may, in any Letter of Credit
Request request a Letter of Credit that has automatic renewal provisions. 

	19 	 Only include this certification if the effect of such amendment, extension or renewal of any existing Letter of Credit increases its face amount or
extends its expiration date. 

	20 	 This condition does not apply to any request for the amendment of a Letter of Credit for purposes of decreasing its face amount.

  
 H-2

 (3) No order, judgment or decree of any Governmental Authority purports to
restrain any Lender from taking any actions to be made hereunder or from making any Loans to be made by it. No injunction or other restraining order has been issued with respect to any action, suit or proceeding seeking to enjoin or otherwise
prevent the consummation of, or to recover any damages or obtain relief as a result of, the transactions contemplated by this LC Request, the Credit Agreement or the making of Loans thereunder. 

(4) After giving effect to the request herein, the LC Exposure will not exceed the LC Commitment and the total Revolving
Exposures will not exceed the lesser of (A) the total Revolving Commitment and (B) the Borrowing Base then in effect. 
 (5) [With respect to Letters of Credit [issued [amended] [renewed] [extended] for the account of a Subsidiary, the Lenders and the Administrative Agent have received the information required under
Section 10.13 of the Credit Agreement] 
 Copies of all relevant documentation with respect to the supported
transaction are attached hereto. 
  

			
	 PBF HOLDING COMPANY, LLC, as
 Administrative Borrower

		
	By:	 	 
		 	Name:
		 	Title:

  
 H-3

 EXHIBIT I 
 [Form of] 
 LENDER ADDENDUM 

Reference is made to the Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining Company LLC, a Delaware limited
liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company (“Paulsboro”) and Toledo Refining
Company LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), the Subsidiary Guarantors
(such term and each other capitalized term used but not defined herein having the meaning given it in Article I of the Credit Agreement), the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers (in such capacities, “Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as
syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as Issuing Bank (in such capacity,
“Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured Parties and Issuing Bank, and as a co-collateral agent (in such capacity, “UBS Collateral
Agent”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as co-collateral agents, the
“Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in such capacities as co-documentation agents, the
“Co-Documentation Agents”). 
 Upon execution and delivery of this Lender Addendum by the parties hereto as
provided in Section 10.15 of the Credit Agreement, the undersigned hereby becomes a Lender thereunder having the Commitment set forth in Schedule 1 hereto, effective as of the Closing Date. 

THIS LENDER ADDENDUM SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS
OF LAWS PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 
 This Lender Addendum may be
executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page hereof by facsimile
transmission shall be effective as delivery of a manually executed counterpart hereof. 

  
 I-1

 IN WITNESS WHEREOF, the parties hereto have caused this Lender Addendum to be duly executed
and delivered by their proper and duly authorized officers as of this      day of [            ], 201[    ]. 

 

			
	                           
                                         
                ,21
	as a Lender
	[Please type legal name of Lender above]
		
	By:	 	 
		 	Name:
		 	Title:
	
	[If second signature is necessary:]
		
	By:	 	 
		 	Name:
		 	Title:

  

	21 	 Use this form of signature page if there is a syndicate of lenders to avoid having to keep track of correct legal names. 

  
 I-2

 Accepted and agreed: 
 PBF HOLDING COMPANY LLC 
 DELAWARE CITY REFINING COMPANY LLC 

PAULSBORO REFINING COMPANY LLC 
 TOLEDO REFINING
COMPANY LLC, 
 as Borrowers 
  

			
	By:	 	 
		 	Name:
		 	Title:
	
	 UBS AG, STAMFORD BRANCH, as
 Administrative Agent

		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

  
 I-3

 Schedule 1  

COMMITMENTS AND NOTICE ADDRESS 
  

					
	 1.
	  	Name of Lender:	  	                             
                               
		  	Notice Address:	  	                             
                               
		  		  	                             
                               
		  		  	                             
                               
		  	Attention:	  	                             
                               
		  	Telephone:	  	                             
                               
		  	Facsimile:	  	                             
                               
			
	 2.
	  	Commitment:	  	                             
                               

  
 I-4

 Exhibit J 
 Tax Parcel Identification Numbers: 
 Prepared by, and 

Record and Return to: 
 Winston & Strawn 
 200 Park Avenue 

New York, New York 10166 
 Attention: Patricia Dineen, Esq. 
  

 
  

                      
  , as mortgagor 
 (Issuer)             

To 
 UBS AG,
STAMFORD BRANCH, 
 as Administrative Agent and Collateral Agent, as mortgagee, 

(Holder)             

 
  

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, 
 AND SECURITY AGREEMENT 
  

 
  

			
	 DATED:
	  	 As of
                        

		
	 COUNTY:
	  	 __________

		
	 STATE:
	  	 __________

  
  

 

 THIS MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, AND SECURITY AGREEMENT (together with any and
all renewals, modifications, amendments, supplements, extensions, consolidations, substitutions, spreaders and replacements of this instrument, this “Security Instrument”) is made as of this
                    , by
                    , having an address at
                    , as mortgagor (“Issuer”), to UBS AG, STAMFORD BRANCH, as Administrative Agent and Collateral Agent, a
Delaware corporation, as mortgagee (“Holder”). All capitalized terms not defined herein shall have the respective meanings set forth in the Credit Agreement (defined below). 

RECITALS: 

WHEREAS, this Security Instrument is given to Holder, to secure the Notes issued by Issuer in the principal amount of FIVE HUNDRED
MILLION AND 00/100 DOLLARS ($500,000,000) (the “Notes”) and delivered to Holder pursuant to that certain Amended and Restated Revolving Credit Agreement among, inter alia, Issuer, Holder, [DELAWARE CITY REFINING
COMPANY LLC, a Delaware limited liability company (“Delaware City”)], [PBF Holding Company LLC (“PBF”), a Delaware limited liability company], [PAULSBORO REFINING COMPANY LLC (f/k/a Valero Refining Company –
New Jersey, a Delaware corporation) (“Paulsboro”), a Delaware limited liability company] and TOLEDO REFINING COMPANY LLC (“Toledo”), a Delaware limited liability company (Issuer, [Delaware City], [PBF], [Paulsboro] and Toledo,
collectively, “Borrowers”), the other loan parties and lenders party thereto, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK TRUST COMPANY AMERICAS and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead
arrangers and joint bookmanagers, UBS SECURITIES LLC, as a co-documentation agent and as syndication agent, UBS LOAN FINANCE LLC, as swingline lender and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent and as a co-documentation agent,
dated as of the date hereof (as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”); 
 WHEREAS, pursuant to the Credit Agreement, Holder has agreed to accept the delivery of the Notes from Issuer upon the terms and subject to the conditions set forth therein, including, without limitation
the granting of a second priority Lien on the Property (as hereinafter defined), subject to Permitted Liens (as hereinafter defined); and 
 WHEREAS, Issuer desires to secure the payment of the Notes and the performance of all of Issuer’s obligations under the Notes, the Credit Agreement, and the other Loan Documents. 

NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged, this Security Instrument is given pursuant
to the Credit Agreement, and payment, fulfillment, and performance by Issuer of its obligations thereunder and under the Notes, and the other Loan Documents are secured hereby. 
 Article 1 - GRANTS OF SECURITY 
 Section 1.1
PROPERTY MORTGAGED. Issuer does hereby irrevocably mortgage, grant, bargain, sell, pledge, assign, warrant, transfer, convey and grant a security interest to Holder and its successors and
assigns the following property, rights, interests and estates now owned, or hereafter acquired by Issuer (collectively, the “Property”): 
 (a) Land. The real property described in Exhibit A attached hereto and made a part hereof (the “Land”); 

  
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 (b) Additional Land. All additional lands, estates and development
rights hereafter acquired by Issuer for use in connection with the Land and the development of the Land which may, from time to time, by supplemental mortgage or otherwise be expressly made subject to the lien of this Security Instrument;

 (c) Improvements. The buildings, structures, fixtures, pads, additions, enlargements, extensions,
modifications, repairs, replacements and improvements now or hereafter erected or located on the Land (collectively, the “Improvements”); 
 (d) Easements. All easements, rights-of-way or use rights, strips and gores of land, streets, ways, alleys, passages, sewer rights, water, water courses, water rights and powers, air rights and
development rights, all rights to the non-exclusive use of common driveway entries, and all estates, rights, titles, interests, privileges, liberties, servitudes, tenements, hereditaments and appurtenances of any nature whatsoever, in any way now or
hereafter belonging, relating or pertaining to the Land and the Improvements and the reversions and remainders, and all land lying in the bed of any street, road or avenue, opened or proposed, in front of or adjoining the Land, to the center line
thereof and all the estates, rights, titles, interests, rights of dower, rights of curtesy, property, possession, claim and demand whatsoever, both at law and in equity, of Issuer of, in and to the Land and the Improvements and every part and parcel
thereof, with the appurtenances thereto; 
 (e) Fixtures and Personal Property. All machinery, equipment,
fixtures (including, but not limited to, all heating, air conditioning, plumbing, lighting, communications and elevator fixtures), furniture, fittings, appliances, software and articles of personal property and additions thereto and replacements
thereof used in connection with or to operate any of the foregoing and other property of every kind and nature whatsoever owned by Issuer, or in which Issuer has or shall have an interest, now or hereafter located upon, affixed to, attached to or
placed upon the Land and the Improvements, or appurtenant thereto, and usable in connection with the present or future operation and occupancy of the Land and the Improvements and all building equipment, materials and supplies of any nature
whatsoever owned by Issuer, or in which Issuer has or shall have an interest, now or hereafter located upon, affixed to, attached to or placed upon the Land and the Improvements, or appurtenant thereto, or usable in connection with the present or
future operation and occupancy of the Land and the Improvements (collectively, the “Personal Property”), and the right, title and interest of Issuer in and to any of the Personal Property which may be subject to any security
interests, as defined in the Uniform Commercial Code, as adopted and enacted by the state or states where any of the Land or Improvements are located (the “Uniform Commercial Code”), and all proceeds and products of the above;

 (f) Leases and Rents. All leases, subleases, subsubleases, lettings, licenses, concessions or other
agreements (whether written or oral) pursuant to which any Person is granted a possessory interest in, or right to use or occupy all or any portion of, the Land and the Improvements, and every modification, amendment or other agreement relating to
such leases, subleases, subsubleases, lettings, licenses, concessions or other agreements entered into in connection with such leases, subleases, subsubleases, lettings, licenses, concessions or other agreements and every guarantee of the
performance and observance of the covenants, conditions 

  
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and agreements to be performed and observed by the other party thereto, heretofore or hereafter entered into, whether before or after the filing by or against Issuer of any petition for relief
under the Federal Bankruptcy Reform Act of 1978 (Title 11 of 11 U.S.C. §101, et. seq.) (as amended, the “Bankruptcy Code”) (collectively, the “Leases”) and all right, title and interest of Issuer, its
successors and assigns therein and thereunder, including, without limitation, cash or securities deposited thereunder to secure the performance by the lessees of their obligations thereunder and all rents, additional rents, rent equivalents, moneys
payable as damages or in lieu of rent or rent equivalents, royalties (including, without limitation, all oil and gas or other mineral royalties and bonuses), income, receivables, receipts, revenues, deposits (including, without limitation, security,
utility and other deposits), accounts, cash, issues, profits and charges for services rendered in connection with such leases, subleases, subsubleases, lettings, licenses, concessions and other agreements, and all other consideration of whatever
form or nature received by or paid to or for the account of or benefit of Issuer or its agents or employees from any and all sources now existing or hereafter arising or created out of the sale, lease, sublease, letting, license, concession or other
grant of the right of the use or occupancy of the Land or Improvements or any portion thereof or rendering of services by Issuer in connection therewith and proceeds, if any, from business interruption or other loss of rental income insurance
whether paid or accruing before or after the filing by or against Issuer of any petition for relief under the Bankruptcy Code (collectively, the “Rents”) and all proceeds from the sale or other disposition of the Leases and the
right to receive and apply the Rents to the payment of the Secured Obligations (as defined in Section 2.3 of this Security Instrument); 
 (g) Insurance Proceeds. All proceeds of and any unearned premiums on any insurance policies covering any of the Land, Improvements, Personal Property, Leases or Rents (the
“Policies”), including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to any of the Land, Improvements or Personal Property as provided
herein or in the Credit Agreement (collectively the “Insurance Proceeds); 
 (h) Condemnation
Awards. All awards or payments, including interest thereon, which may heretofore and hereafter be made with respect to any of the property described in the foregoing subsections (a) through (f) by reason of
Condemnation, whether from the exercise of the right of eminent domain (including, but not limited to, any transfer made in lieu of or in anticipation of the exercise of the right), or for a change of grade, or for any other injury to or decrease in
the value of the Land or the Improvements (collectively the “Condemnation Proceeds”); 
 (i)
Tax Certiorari. All refunds, rebates or credits in connection with reduction in real estate taxes and assessments charged against the Land or the Improvements as a result of tax certiorari or any applications or proceedings for reduction,
credit or refund; 
 (j) Rights. The right, in the name and on behalf of Issuer, to appear in and defend
any action or proceeding brought with respect to any of the items set forth in subsections (a) through (i) above or in subsections (k) through (o) below and to commence any action or
proceeding to protect the interest of Holder in any of said items; 

  
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 (k) Agreements. All agreements, contracts, certificates, instruments,
franchises, permits, licenses, plans, specifications and other documents, now or hereafter entered into, and all rights therein and thereto, respecting or pertaining to the ownership, financing, leasing, sale, marketing, use, occupation,
construction, management or operation of the Land and the Improvements or any part thereof and all right, title and interest of Issuer therein and thereunder, including, without limitation, the right, upon the happening of any default hereunder, to
receive and collect any sums payable to Issuer thereunder; 
 (l) Intangibles. All tradenames, trademarks,
servicemarks, logos, copyrights, goodwill, books and records and all other general intangibles relating to or used in connection with the operation of the Land, the Improvements or the Personal Property; 

(m) Permits. All consents, licenses, building permits, certificates of occupancy and other governmental approvals
relating to construction, completion, occupancy, use or operation of the Land and the Improvement or any part thereof; and all drawings, plans, specifications and similar or related items relating to the Land and the Improvements; 

(n) Conversion. All proceeds of the conversion, voluntary or involuntary, of any of the foregoing items set forth
in subsections (a) through (m) including, without limitation, Insurance Proceeds and Condemnation Proceeds, into cash or liquidation claims; and 

(o) Other Rights. Any and all other rights of Issuer in and to the items set forth in subsections
(a) through (n) above. 
 Section 1.2 ASSIGNMENT OF
RENTS. Issuer hereby absolutely and unconditionally assigns to Holder all of Issuer’s right, title and interest in and to all current and future Leases and Rents; it being intended by Issuer that this
assignment constitutes a present, absolute assignment and not an assignment for additional security only. Nevertheless, subject to the terms of the Credit Agreement and Section 8.1(g) of this Security Instrument, Holder grants to Issuer
a revocable license to collect, receive, use and enjoy the Rents and Issuer shall hold the Rents, or a portion thereof sufficient to discharge all current sums due on the Secured Obligations, for use in the payment of such sums. 

Section 1.3 SECURITY AGREEMENT. This Security Instrument is both a real
property mortgage and a “security agreement” within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Issuer
in the Property or any part thereof. By executing and delivering this Security Instrument, Issuer hereby grants to Holder, as security for the Secured Obligations (hereinafter defined), a security interest in all items constituting the Property
other than the Land and the Improvements to the full extent that such items may be subject to the Uniform Commercial Code. 

Section 1.4 FIXTURE FILING. Certain of the Property is or will become
“fixtures” (as that term is defined in the Uniform Commercial Code) on the Land, and this Security Instrument, upon being filed for record in the real estate records of the city or county wherein such fixtures are situated, shall operate
also as a financing statement filed as a fixture filing in accordance with the applicable provisions of said Uniform Commercial Code upon such of the Property that is or may become fixtures. 

  
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 Section 1.5 FUTURE ADVANCES.
It is the intention of Issuer and Holder that this Security Instrument (as renewed and extended from time to time) shall secure future advances and re-advances, and the lien and security interest created by this Security Instrument shall attach upon
execution and have priority from the time of recording as to all advances, whether obligatory or discretionary, until this Security Instrument is released of record. 
 Section 1.6 CONDITIONS TO GRANT. TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit
of Holder and its successors and assigns, forever; 
 UPON CONDITION that, so long as no Event of Default has occurred and is
continuing, Issuer shall be permitted to possess and use the Property and to use the rents, issue, profits, revenues and other income of the Property as provided or permitted by the terms of this Security Instrument, the Credit Agreement and the
other Loan Documents; 
 Article 2 - SECURED OBLIGATIONS 

Section 2.1 NOTES INDEBTEDNESS. This Security Instrument and the grants,
assignments and transfers made in Article 1 hereof are given for the purpose of securing the indebtedness evidenced by the Notes. 
 Section 2.2 OTHER OBLIGATIONS. This Security Instrument and the grants, assignments and transfers made in Article 1 hereof are also
given for the purpose of securing the payment and performance of the following (collectively, the “Other Obligations”): (a) all other obligations of Issuer contained in the Notes; (b) all obligations of Issuer contained
herein; (c) each obligation of Issuer contained in the Credit Agreement and any other Loan Document; and (d) each obligation of Issuer contained in any renewal, extension, amendment, modification, consolidation, change of, or substitution
or replacement for, all or any part of the Notes, the Credit Agreement or any other Loan Document. 
 Section 2.3
SECURED OBLIGATIONS. Issuer’s obligations for the payment of the indebtedness evidenced by the Notes and any other amounts that may become due pursuant to the provisions of this Security
Instrument and any of the other Loan Documents, and the payment and performance of the Other Obligations shall be referred to collectively herein as the “Secured Obligations.” 

Section 2.4 PAYMENT OF SECURED OBLIGATIONS.
Issuer will pay the Secured Obligations at the time and in the manner provided in the Credit Agreement, the Notes, this Security Instrument, and/or the applicable other Loan Documents. 

Section 2.5 INCORPORATION BY REFERENCE. All the covenants,
conditions and agreements contained in (a) the Credit Agreement, (b) the Notes and (c) all and any of the other Loan Documents are hereby made a part of this Security Instrument to the same extent and with the same force as if fully
set forth herein. 

  
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 Section 2.6 FUTURE ADVANCES. This Security Instrument shall secure all
Obligations including, without limitation, future advances whenever hereafter made with respect to or under the Credit Agreement or the other Loan Documents and shall secure not only the Obligations with respect to presently existing indebtedness
under the Credit Agreement or the other Loan Documents, but also any and all other indebtedness which may hereafter be owing by Issuer to the Secured Parties under the Credit Agreement or the other Loan Documents, however incurred, whether interest,
discount or otherwise, and whether the same shall be deferred, accrued or capitalized, including future advances and re-advances, pursuant to the Credit Agreement or the other Loan Documents, whether such advances are obligatory or to be made at the
option of the Secured Parties, or otherwise, and any extensions, refinancings, modifications or renewals of all such Obligations whether or not Issuer executes any extension agreement or renewal instrument and, in each case, to the same extent as if
such future advances were made on the date of the execution of this Security Instrument. 
 Section 2.7 LAST
DOLLAR SECURED. So long as the aggregate amount of the Obligations exceeds the amount secured by this Security Instrument (the “Secured Amount”), any payments and repayments of the Obligations shall not be deemed to be applied against
or to reduce the Secured Amount. 
 Article 3 - PROPERTY COVENANTS 

Issuer covenants and agrees that: 
 Section 3.1 INSURANCE. Issuer shall obtain and maintain, or cause to be maintained, in full force and effect at all times insurance with respect to Issuer
and the Property as required pursuant to the Credit Agreement. 
 Section 3.2
TAXES. Issuer shall pay all Charges against the Property or any part thereof in accordance with the Credit Agreement. “Charges” shall mean any and all real estate, property and other taxes,
assessments and special assessments, levies, fees, all water and sewer rents and charges and all other governmental charges imposed upon or assessed against, and all claims (including, without limitation, claims for landlords’, carriers’,
mechanics’, workmens’, repairmens’, laborers’, materialmens’, suppliers’ and warehousemens’ Liens and other claims arising by operation of law) judgments or demands against, all or any portion of the Property or
other amounts of any nature which, if unpaid, might result in or permit the creation of, a lien on the Property or which might result in foreclosure of all or any portion of the Property. 

Section 3.3 LEASES. Issuer shall not, without the prior written consent of Holder (which
consent shall not be unreasonably withheld, conditioned or delayed), enter into any Leases for all or any portion of the Property. In order to obtain Holder’s consent to any Lease, Issuer shall furnish to Holder a copy of the proposed Lease,
together with such other information as Holder may reasonably request with respect to the proposed Lease and the proposed tenant thereunder. With respect to each Lease as to which Holder has provided its prior written consent, Issuer hereby
covenants that Issuer (a) shall perform the obligations which Issuer is required to perform under such Lease; (b) shall enforce the obligations to be performed by the tenant thereunder; (c) shall promptly furnish to Holder any notice
of default or termination received by Issuer from the tenant, 

  
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and any notice of default or termination given by Issuer to the tenant, (d) shall not collect any rents for more than thirty (30) days in advance of the time when the same shall become
due, except for bona fide security deposits not in excess of an amount equal to two months rent; (e) shall not enter into any ground lease or master lease of any part of the Property; (f) shall not further assign or encumber the Lease;
(g) shall not, except with Holder’s prior written consent, cancel or accept surrender or termination of the Lease or permit a sublease thereunder; and (h) shall not, except with Holder’s prior written consent, modify or amend the
Lease. Any action in violation of clauses (e), (f), (g), or (h) of this Section 3.3 shall be void at the election of Holder. 
 Section 3.4 WARRANTY OF TITLE. Issuer has good, indefeasible, marketable and insurable fee simple title to the real property
constituting part of the Property and good indefeasible and marketable title to the balance of the Property, free and clear of all Liens whatsoever except (x) Permitted Liens, (y) such other Liens as may be permitted pursuant to the Loan
Documents and (z) the Liens created by the Loan Documents (collectively, the “Permitted Encumbrances”). This Security Instrument, when properly recorded in the appropriate records, together with any Uniform Commercial Code financing
statements required to be filed in connection therewith, will create (a) a valid, perfected second priority lien on the Property, subject only to Permitted Encumbrances and (b) perfected security interests in and to, and perfected
collateral assignments of, all personalty (including the Leases), all in accordance with the terms thereof, in each case subject only to the Permitted Encumbrances. Subject to the Permitted Encumbrances, Issuer shall forever warrant, defend and
preserve the title and the validity and priority of the Lien of this Security Instrument and shall forever warrant and defend the same to Holder against the claims of all Persons whomsoever. 

Section 3.5 MAINTENANCE OF THE PROPERTY.
Issuer shall maintain the Property in accordance with the requirements of the Credit Agreement. 
 Article 4 - FURTHER
ASSURANCES 
 Section 4.1 COMPLIANCE WITH CREDIT
AGREEMENT. Issuer shall comply with the covenants set forth in the Credit Agreement and the other Loan Documents, including, without limitation, the covenant to protect and perfect the Lien or security interest
hereof upon, and in the interest of Holder in, the Property. 
 Section 4.2 AUTHORIZATION
TO FILE FINANCING STATEMENTS; POWER OF ATTORNEY. Issuer hereby authorizes Holder at any time and from time to time to file
any initial financing statements, amendments thereto and continuation statements as authorized by applicable law, as applicable to all or part of the Property (other than the Land and the Improvements). For purposes of such filings, Issuer agrees to
furnish any information requested by Holder promptly upon request by Holder. Issuer also ratifies its authorization for Holder to have filed any like initial financing statements, amendments thereto or continuation statements, if any, if filed prior
to the date of this Security Instrument. Issuer hereby irrevocably constitutes and appoints Holder and any officer or agent of Holder, with full power of substitution, as its true and lawful attorneys-in-fact with full irrevocable power and
authority in the place and stead of Issuer or in Issuer’s own name to execute in Issuer’s name any such documents and otherwise to carry out the 

  
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purposes of this Section 4.2, to the extent that Issuer’s authorization above is not sufficient. To the extent permitted by law, Issuer hereby ratifies all acts said
attorneys-in-fact have lawfully done in the past or shall lawfully do or cause to be done in the future by virtue of this Section 4.2. This power of attorney is a power coupled with an interest and shall be irrevocable. Issuer shall pay
or cause to be paid all taxes and fees incident to such filing, registration and recording, and all expenses incident to the preparation, execution and acknowledgment thereof, and of any instrument of further assurance, and all Federal or state
stamp taxes or other taxes, duties and charges arising out of or in connection with the execution and delivery of such instruments. 
 Section 4.3 Further Acts. Issuer shall, at the sole cost and expense of Holder, do, execute, acknowledge and deliver all and every such further acts, deeds, conveyances, mortgages,
assignments, notices of assignment, transfers, financing statements, continuation statements, instruments and assurances as Holder shall from time to time reasonably request, which may be necessary in the judgment of the Issuer from time to time to
assure, perfect, convey, assign, mortgage, transfer and confirm unto Holder, the property and rights hereby conveyed or assigned or which Issuer may be or may hereafter become bound to convey or assign to Holder or for carrying out the intention or
facilitating the performance of the terms hereof or the filing, registering or recording hereof. Without limiting the generality of the foregoing, in the event that the Holder desires to exercise any remedies, consensual rights or attorney-in-fact
powers set forth in this Security Instrument and determines it necessary to obtain any approvals or consents of any Governmental Authority or any other person therefor, then, upon the reasonable request of the Holder, Issuer agrees to use its best
efforts to assist and aid the Holder to obtain as soon as practicable any necessary approvals or consents for the exercise of any such remedies, rights and powers. In the event Issuer shall fail after demand to execute any instrument or take any
action required to be executed or taken by Holder under this Section 4.3, Holder may execute or take the same as the attorney-in-fact for Issuer, such power of attorney being coupled with an interest and is irrevocable. 

Article 5 - DUE ON SALE/ENCUMBRANCE 
 Section 5.1 NO SALE/ENCUMBRANCE. Issuer shall not, without the prior written consent of Holder, cause or permit a sale,
conveyance, mortgage, grant, bargain, encumbrance (other than Permitted Encumbrances), pledge, assignment, grant of any options with respect to, or any other transfer or disposition (directly or indirectly, voluntarily or involuntarily, by operation
of law or otherwise, and whether or not for consideration or of record) of a legal or beneficial interest in all or any part of the Property, Issuer or any Guarantors or any of their affiliates, or Holder’s interests in any of the foregoing,
other than in strict accordance with the express provisions the Credit Agreement. 
 Article 6 - PREPAYMENT; RELEASE OF
PROPERTY 
 Section 6.1 PREPAYMENT. The Secured Obligations may not be
prepaid in whole or in part except in strict accordance with the express terms and conditions of the Notes and the Credit Agreement. 

  
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 Section 6.2 RELEASE OF
PROPERTY. Issuer shall not be entitled to a release of any portion of the Property from the lien of this Security Instrument except in strict accordance with express terms and conditions of this Security Instrument
and of the Credit Agreement. 
 Article 7 - DEFAULT 

Section 7.1 EVENT OF DEFAULT. The term “Event of
Default” as used in this Security Instrument shall mean (a) any breach by Issuer under the terms and provisions of this Security Instrument beyond applicable notice and cure periods (if any) and/or (b) any “Event of
Default” under the Credit Agreement as such term is defined in the Credit Agreement. 
 Article 8 - RIGHTS AND
REMEDIES UPON DEFAULT 
 Section 8.1 REMEDIES. Upon the occurrence and
during the continuance of any Event of Default, Issuer agrees that, Holder may take such action, without notice or demand, as it deems advisable to protect and enforce its rights against Issuer and in and to the Property, including, but not limited
to, the following actions, each of which may be pursued concurrently or otherwise, at such time and in such order as Holder may determine, in its sole discretion, without impairing or otherwise affecting the other rights and remedies of Holder:

 (a) declare all or any portion of the entire unpaid Secured Obligations to be immediately due and payable;

 (b) institute proceedings, judicial or otherwise, for the complete foreclosure of this Security Instrument
under any applicable provision of law, in which case the Property or any interest therein may be sold for cash or upon credit in one or more parcels or in several interests or portions and in any order or manner, and in no event shall Issuer be
entitled to any credit by reason of the payment of taxes thereon; 
 (c) sell for cash or upon credit the
Property or any part thereof and all estate, claim, demand, right, title and interest of Issuer therein and rights of redemption thereof, pursuant to power of sale or otherwise, at one or more sales, as an entirety or in parcels, at such time and
place, upon such terms and after such notice thereof as may be required or permitted by law; 
 (d) institute an
action, suit or proceeding in equity for the specific performance of any covenant, condition or agreement contained herein, in the Notes, the Credit Agreement or any of the other Loan Documents; 

(e) recover judgment on the Notes either before, during or after any proceedings for the enforcement of this Security
Instrument, or the other Loan Documents; 
 (f) apply for the appointment of a receiver, trustee, liquidator or
conservator of the Property, without notice and without regard for the adequacy of the security for the Secured Obligations and without regard for the solvency of Issuer or any other Person liable for the payment of the Secured Obligations;

  
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 (g) the license granted to Issuer under Section 1.2 hereof shall
automatically be revoked and Holder may enter into or upon the Property, either personally or by its agents, nominees or attorneys and dispossess Issuer and its agents and servants therefrom, without liability for trespass, damages or otherwise and
exclude Issuer and its agents and servants wholly therefrom, and take possession of all books, records and accounts relating thereto and Issuer agrees to surrender possession of the Property and of such books, records and accounts to Holder upon
demand, and thereupon Holder may (i) use, operate, manage, control, insure, maintain, repair, restore and otherwise deal with all and every part of the Property and conduct the business thereat; (ii) complete any construction on the
Property in such manner and form as Holder deems advisable; (iii) make alterations, additions, renewals, replacements and improvements to or on the Property; (iv) exercise all rights and powers of Issuer with respect to the Property,
whether in the name of Issuer or otherwise, including, without limitation, the right to make, cancel, enforce or modify Leases, obtain and evict tenants, and demand, sue for, collect and receive all Rents of the Property and every part thereof;
(v) require Issuer to pay monthly in advance to Holder, or any receiver appointed to collect the Rents, the fair and reasonable rental value for the use and occupation of such part of the Property as may be occupied by Issuer; (vi) require
Issuer to vacate and surrender possession of the Property to Holder or to such receiver and, in default thereof, Issuer may be evicted by summary proceedings or otherwise; and (vii) apply the receipts from the Property to the payment of the
Secured Obligations, in such order, priority and proportions as Holder shall deem appropriate in its sole discretion after deducting therefrom all expenses (including reasonable attorneys’ fees) incurred in connection with the aforesaid
operations and all amounts necessary to pay the Charges, insurance and other expenses in connection with the Property, as well as just and reasonable compensation for the services of Holder, its counsel, agents and employees; 

(h) exercise any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code,
including, without limiting the generality of the foregoing: (i) the right to take possession of the Personal Property or any part thereof, and to take such other measures as Holder may deem necessary for the care, protection and preservation
of the Personal Property, and (ii) request Issuer at its expense to assemble the Personal Property and make it available to Holder at a convenient place acceptable to Holder. Any notice of sale, disposition or other intended action by Holder
with respect to the Personal Property sent to Issuer in accordance with the provisions hereof at least ten (10) days prior to such action shall constitute commercially reasonable notice to Issuer; 

(i) apply any sums then deposited or held in escrow or otherwise by or on behalf of Holder in accordance with the terms of
the Credit Agreement, this Security Instrument or any other Loan Document to the payment of the following items in any order in its sole and absolute discretion: (i) taxes; (ii) insurance premiums; (iii) interest on the unpaid
principal balance of the Notes; (iv) amortization of the unpaid principal balance of the Notes; (v) all other sums payable pursuant to the Notes, the Credit Agreement, this Security Instrument and the other Loan Documents, including,
without limitation, advances made by Holder pursuant to the terms of this Security Instrument; 
 (j) surrender
the insurance policies and Proceeds maintained or obtained pursuant to the Credit Agreement, collect the unearned insurance premiums for such insurance policies and apply such sums as a credit on the Secured Obligations in such priority and
proportion as Holder in its discretion shall deem proper, and in connection therewith, Issuer hereby appoints Holder as agent and attorney-in-fact (which is coupled with an interest and is therefore irrevocable) for Issuer to collect such insurance
premiums and Proceeds; 

  
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 (k) apply the undisbursed balance of any deposits or funds held by Holder,
together with interest thereon, to the payment of the Secured Obligations in such order, priority and proportions as may be required under the Credit Agreement or as Holder shall deem to be appropriate in its discretion; and/or 

(l) pursue such other remedies as Holder may have under applicable law. 

In the event of a sale, by foreclosure, power of sale or otherwise, of less than all of Property, this Security Instrument shall continue
as a lien and security interest on the remaining portion of the Property unimpaired and without loss of priority. 

Notwithstanding any provisions of this Security Instrument to the contrary, if any Event of Default as described in Section 8.01 of
the Credit Agreement shall occur, the entire unpaid Secured Obligations shall immediately become due and payable, without any further notice, demand or other action by Holder. 
 Section 8.2 APPLICATION OF PROCEEDS. The purchase money, proceeds and avails of any disposition of the Property, and or any
part thereof, or any other sums collected by Holder pursuant to the Notes, this Security Instrument or the other Loan Documents, may be applied by Holder to the payment of the Secured Obligations in accordance with Section 8.02 of the Credit
Agreement. 
 Section 8.3 RIGHT TO CURE
DEFAULTS. Upon the occurrence and during the continuance of any Event of Default, Holder may remedy such Event of Default in such manner and to such extent as Holder may deem necessary to protect the security
hereof, but without any obligation to do so and without notice to or demand on Issuer and without releasing Issuer from any obligation hereunder, Holder may make any payment or do any act required of Issuer hereunder in such manner and to such
extent as Holder may deem necessary to protect the security hereof. Holder is authorized to enter upon the Property for such purposes, or appear in, defend, or bring any action or proceeding to protect its interest in the Property or to foreclose
this Security Instrument or collect the Secured Obligations, and the cost and expense thereof (including reasonable attorneys’ fees to the extent permitted by law), with interest as provided in this Section 8.3, shall constitute a
portion of the Secured Obligations and shall be due and payable to Holder upon demand. All such costs and expenses incurred by Holder in remedying such Event of Default or such failed payment or act or in appearing in, defending, or bringing any
such action or proceeding shall bear interest at the Default Rate, for the period after notice from Holder that such cost or expense was incurred to the date of payment to Holder. All such costs and expenses incurred by Holder together with interest
thereon calculated at the Default Rate shall be deemed to constitute a portion of the Secured Obligations and be secured by this Security Instrument and the other Loan Documents and shall be immediately due and payable upon demand by Holder
therefor. 
 Section 8.4 ACTIONS AND PROCEEDINGS.
Upon the occurrence and during the continuance of any Event of Default, Holder shall have the right to appear in and defend any action or proceeding brought with respect to the Property and to bring any action or proceeding, in the name and on
behalf of Issuer, with respect to the Property which Holder, in its reasonable discretion, decides should be brought to protect its interest in the Property. 

  
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 Section 8.5 RECOVERY OF SUMS
REQUIRED TO BE PAID. Holder shall have the right from time to time to take action to recover any sum or sums which constitute a part of the Secured Obligations as the
same become due and payable, without regard to whether or not the balance of the Secured Obligations shall be due and payable, and without prejudice to the right of Holder thereafter to bring an action of foreclosure, or any other action, for a
default or defaults by Issuer existing at the time such earlier action was commenced. 
 Section 8.6
OTHER RIGHTS, ETC. 
 (a) The failure of Holder to insist upon strict
performance of any term hereof shall not be deemed to be a waiver of any term of this Security Instrument. Issuer shall not be relieved of Issuer’s obligations hereunder by reason of (i) the failure of Holder to comply with any request of
Issuer, Guarantors or any other guarantor or indemnitor with respect to the Secured Obligations to take any action to foreclose this Security Instrument or otherwise enforce any of the provisions hereof or of the Notes or the other Loan Documents,
(ii) the release, regardless of consideration, of the whole or any part of the Property, or of any Person liable for the Secured Obligations or any portion thereof, or (iii) any agreement or stipulation by Holder extending the time of
payment or otherwise modifying or supplementing the terms of the Notes, this Security Instrument or the other Loan Documents. 

(b) It is agreed that the risk of loss or damage to the Property is on Issuer, and Holder shall have no liability whatsoever for decline
in the value of the Property, for failure to maintain insurance policies, or for failure to determine whether insurance in force is adequate as to the amount of risks insured. Possession by Holder shall not be deemed an election of judicial relief
if any such possession is requested or obtained with respect to any Property or collateral not in Holder’s possession. 

(c) Holder may resort for the payment of the Secured Obligations to any other security held by Holder in such order and manner as Holder,
in its discretion, may elect. Holder may take action to recover the Secured Obligations, or any portion thereof, or to enforce any covenant hereof without prejudice to the right of Holder thereafter to foreclose this Security Instrument. The rights
of Holder under this Security Instrument shall be separate, distinct and cumulative and none shall be given effect to the exclusion of the others. No act of Holder shall be construed as an election to proceed under any one provision herein to the
exclusion of any other provision. Holder shall not be limited exclusively to the rights and remedies herein stated but shall be entitled to every right and remedy now or hereafter afforded at law or in equity. 

Section 8.7 RIGHT TO RELEASE ANY PORTION
OF THE PROPERTY. Holder may release any portion of the Property for such consideration as Holder may require without, as to the remainder of the Property, in any way impairing or
affecting the lien or priority of this Security Instrument, or improving the position of any subordinate lienholder with respect thereto, except to the extent that the obligations hereunder shall have been reduced by the actual monetary
consideration, if any, received by Holder for such release, 

  
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and Holder may accept by assignment, pledge or otherwise any other property in place thereof as Holder may require without being accountable for so doing to any other lienholder. This Security
Instrument shall continue as a lien and security interest in the remaining portion of the Property. 
 Section 8.8
RIGHT OF ENTRY AND INSPECTION. Upon reasonable notice to Issuer (except in the event of an emergency, in which case no notice shall be required) and
subject to the rights of tenants under any Lease(s) affecting the Property, Holder and its agents, consultants, employees and representatives shall have the right to enter and/or inspect the Property (and Issuer shall make available the same) at all
reasonable times. 
 Section 8.9 BANKRUPTCY. 

(a) Upon the occurrence and during the continuance of an Event of Default, Holder shall have the right to proceed in its own name or in
the name of Issuer in respect of any claim, suit, action or proceeding relating to the rejection of any Lease, including, without limitation, the right to file and prosecute, to the exclusion of Issuer, any proofs of claim, complaints, motions,
applications, notices and other documents, in any case in respect of the lessee under such Lease under the Bankruptcy Code. 

(b) If there shall be filed by or against Issuer a petition under the Bankruptcy Code, and Issuer, as lessor under any Lease, shall
determine to reject such Lease pursuant to Section 365(a) of the Bankruptcy Code, then Issuer shall give Holder not less than ten (10) days’ prior notice of the date on which Issuer shall apply to the bankruptcy court for authority to
reject the Lease. Holder shall have the right, but not the obligation, to serve upon Issuer within such ten-day period a notice stating that (i) Holder demands that Issuer assume and assign the Lease to Holder pursuant to Section 365 of
the Bankruptcy Code and (ii) Holder covenants to cure or provide adequate assurance of future performance under the Lease. If Holder serves upon Issuer the notice described in the preceding sentence, Issuer shall not seek to reject the Lease
and shall comply with the demand provided for in clause (i) of the preceding sentence within thirty (30) days after the notice shall have been given, subject to the performance by Holder of the covenant provided for in clause
(ii) of the preceding sentence. 
 Section 8.10 SUBROGATION. If any or
all of the proceeds of the Notes have been used to extinguish, extend or renew any indebtedness heretofore existing against the Property, then, to the extent of the funds so used, Holder shall be subrogated to all of the rights, claims, liens,
titles, and interests existing against the Property heretofore held by, or in favor of, the holder of such indebtedness and such former rights, claims, liens, titles, and interests, if any, are not waived but rather are continued in full force and
effect in favor of Holder and are merged with the lien and security interest created herein as cumulative security for the payment and performance of the Secured Obligations. 
 Article 9 - ENVIRONMENTAL HAZARDS 
 Section 9.1
ENVIRONMENTAL COVENANTS. Issuer has provided representations and warranties regarding environmental matters set forth in the Credit Agreement and shall comply with the covenants regarding
environmental matters set forth in the Credit Agreement and the Environmental Agreement. 

  
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 Article 10 - WAIVERS 

Section 10.1 MARSHALLING AND OTHER MATTERS.
Issuer hereby waives, to the extent permitted by applicable laws, the benefit of all applicable laws now or hereafter in force regarding appraisement, valuation, stay, extension, reinstatement and redemption and all rights of marshalling in the
event of any sale hereunder of the Property or any part thereof or any interest therein. Further, Issuer hereby expressly waives any and all rights of redemption from sale under any order or decree of foreclosure of this Security Instrument on
behalf of Issuer, and on behalf of each and every Person acquiring any interest in or title to the Property subsequent to the date of this Security Instrument and on behalf of all Persons to the extent permitted by applicable laws. 

Section 10.2 WAIVER OF NOTICE. Issuer shall not be
entitled to any notices of any nature whatsoever from Holder except with respect to matters for which this Security Instrument or the Credit Agreement specifically and expressly provides for the giving of notice by Holder to Issuer and except with
respect to matters for which Issuer is not permitted by Governmental Rule to waive its right to receive notice, and Issuer hereby expressly waives the right to receive any notice from Holder with respect to any matter for which this Security
Instrument or the Credit Agreement does not specifically and expressly provide for the giving of notice by Holder to Issuer. 

Section 10.3 WAIVER OF STATUTE OF
LIMITATIONS. Issuer hereby expressly waives and releases to the fullest extent permitted by law, the pleading of any statute of limitations as a defense to payment or performance of the Secured Obligations.

 Section 10.4 SOLE DISCRETION OF
HOLDER. Except as otherwise expressly provided in the Credit Agreement, whenever pursuant to this Security Instrument, Holder exercises any right given to it to approve or disapprove, or any arrangement or term is
to be satisfactory to Holder, the decision of Holder to approve or disapprove or to decide whether arrangements or terms are satisfactory or not satisfactory shall (except as is otherwise specifically herein provided) be in the sole discretion of
Holder and shall be final and conclusive. 
 Section 10.5 WAIVER OF
TRIAL BY JURY. ISSUER AND HOLDER EACH HEREBY AGREES NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT
ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THE LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY ISSUER AND HOLDER,
AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. EACH OF HOLDER AND ISSUER IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE
EVIDENCE OF THIS WAIVER BY ISSUER AND HOLDER. 

  
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 Section 10.6 SUBMISSION TO
JURISDICTION. Issuer hereby irrevocably and unconditionally: 
 (a) submits for itself and its
Property in any legal action or proceeding relating to this Security Instrument and the other Loan Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the non-exclusive general jurisdiction of
the courts of the State of New York, the courts of the United States of America for the Southern District of New York, and appellate courts from any thereof; 
 (b) consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or
that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 
 (c) agrees
that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to Issuer, at its address set forth in
Section 11.2 hereof or at such other address of which Holder shall have been notified pursuant thereto; 
 (d)
agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and 

(e) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding
referred to in this Section 10.6 any special, exemplary, punitive or consequential damages. 
 Section 10.7
WAIVER OF FORECLOSURE DEFENSE. Issuer hereby waives any defense Issuer might assert or have by reason of Holder’s failure to make any tenant or lessee of the
Property a party defendant in any foreclosure proceeding or action instituted by Holder. 
 Section 10.8
FAILURE TO ACT. Notwithstanding anything to the contrary contained herein or in any other Loan Document, the failure of Holder to take any action hereunder or under any other
Loan Document shall not (i) be deemed to be a waiver of any term or condition of this Security Instrument or any of the other Loan Documents, (ii) adversely effect any rights of Holder hereunder or under any other Loan Document or
(iii) relieve Issuer of any of Issuer’s obligations hereunder or under any other Loan Document. 
 Article 11 -
NOTICES 
 Section 11.1 NOTICES. All notices or other written
communications hereunder shall be delivered in accordance with the applicable terms and conditions of the Credit Agreement. 

  
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 Section 11.2 ADDRESSES. Notices to Issuer and Holder
hereunder shall be delivered in accordance with the Credit Agreement and shall to be sent as follows: 
 If to Issuer: 

c/o PBF Holding Company LLC 
 1 Sylvan Way, 2nd Floor 
 Parsippany, NJ 07054-3887 

Attn: Jeffrey Dill 
 Fax: 973-455-7562 
 Email: jeffrey.dill@pbfenergy.com 

with a copy to: 

Kirkland & Ellis LLP 
 601 Lexington Avenue 
 New York, NY 10022-4643 

Attn: Andres C. Mena, Esq. 
 Tel: (212) 446-4737 
 Fax: (212) 446-4900 

Email: andres.mena@kirkland.com 

If to Holder: 
 UBS AG,
Stamford Branch 
 677 Washington Boulevard 
 Stamford, Connecticut 06901 
 Attn: Mary E. Evans 

Fax: (203) 719-3029 
 Email: Mary.Evans@ubs.com 
 with a copy to: 

Winston & Strawn LLP 
 200 Park Avenue 
 New York, New York 10166 

Attn: William D. Brewer, Esq. 
 Fax: (212)294-4700 
 Email: wbrewer@winston.com 

Article 12 - APPLICABLE LAW 
 Section 12.1 GOVERNING LAW. THIS SECURITY INSTRUMENT SHALL BE DEEMED TO BE A CONTRACT ENTERED INTO PURSUANT TO THE LAWS OF THE STATE OF NEW
YORK AND SHALL IN ALL RESPECTS BE GOVERNED, CONSTRUED, APPLIED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, PROVIDED HOWEVER, THAT WITH RESPECT TO THE CREATION, PERFECTION, PRIORITY AND ENFORCEMENT OF THE LIEN OF THIS SECURITY
INSTRUMENT, AND THE DETERMINATION OF DEFICIENCY JUDGMENTS, THE LAWS OF THE STATE WHERE THE PROPERTY IS LOCATED SHALL APPLY. 

  
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 Section 12.2 PROVISIONS SUBJECT
TO APPLICABLE LAW. All rights, powers and remedies provided in this Security Instrument may be exercised only to the extent that the exercise thereof does not violate any applicable
provisions of law and are intended to be limited to the extent necessary so that they will not render this Security Instrument invalid, unenforceable or not entitled to be recorded, registered or filed under the provisions of any applicable law. If
any term of this Security Instrument or any application thereof shall be invalid or unenforceable, the remainder of this Security Instrument and any other application of the term shall not be affected thereby. 

Article 13 - DEFINITIONS 
 Section 13.1 DEFINED TERMS. Unless the context clearly indicates a contrary intent or unless otherwise specifically provided herein, words used in this
Security Instrument may be used interchangeably in singular or plural form; the word “Issuer” shall mean “each Issuer and any subsequent permitted owner or owners of the Property or any part thereof or any interest therein”; the
word “Holder” shall mean “Holder, and its successors and assigns”; the word “Notes” shall mean “the Notes and any other evidence of indebtedness secured by this Security Instrument”; the word
“Property” shall include any portion of the Property and any interest therein; and the phrases “attorneys’ fees,” “legal fees,” “counsel fees” and phrases of like import shall include any and all
reasonable attorneys’, paralegal and law clerk fees and disbursements, including, but not limited to, fees and disbursements at the pre-trial, trial and appellate levels incurred or paid by Holder in protecting its interest in the Property, the
Leases and the Rents and enforcing its rights hereunder; and the words “herein,” “hereof” and words of like import shall be deemed to refer to this Security Instrument as a whole and not any particular Sections hereof unless the
context dictates otherwise. 
 Article 14 - MISCELLANEOUS PROVISIONS 

Section 14.1 NO ORAL CHANGE. This Security Instrument, and
any provisions hereof, may not be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to act on the part of Issuer or Holder, but only by an agreement in writing signed by the party against whom
enforcement of any modification, amendment, waiver, extension, change, discharge or termination is sought. 

Section 14.2 SUCCESSORS AND ASSIGNS. This Security
Instrument shall be binding upon and inure to the benefit of (a) Holder and its successors and assigns forever and (b) Issuer and its permitted successors and assigns forever. 

Section 14.3 INAPPLICABLE PROVISIONS. If any term, covenant or condition
of the Credit Agreement, the Notes or this Security Instrument is held to be invalid, illegal or unenforceable in any respect, the Credit Agreement, the Notes and this Security Instrument shall be construed without such provision. 

Section 14.4 HEADINGS, ETC. The headings and captions of various Sections
of this Security Instrument are for convenience of reference only and are not to be construed as defining or limiting, in any way, the scope or intent of the provisions hereof. 

  
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 Section 14.5 NUMBER AND
GENDER. Whenever the context may require, any pronouns used herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice
versa. 
 Section 14.6 ENTIRE AGREEMENT. This Security
Instrument and the other Loan Documents contain the entire agreement of the parties hereto and thereto in respect of the transactions contemplated hereby and thereby, and all prior agreements among or between such parties, whether oral or written
between Issuer and Holder are superseded by the terms of this Security Instrument and the other Loan Documents. 

Section 14.7 LIMITATION ON HOLDER’S
RESPONSIBILITY. No provision of this Security Instrument shall operate to place any obligation or liability for the control, care, management or repair of the Property upon Holder, nor shall it operate to make
Holder responsible or liable for any waste committed on the Property by the tenants or any other Person, or for any dangerous or defective condition of the Property, or for any negligence in the management, upkeep, repair or control of the Property
resulting in loss or injury or death to any tenant, licensee, employee or stranger. Nothing herein contained, nor any exercise of Holder’s remedies hereunder, shall be construed as constituting Holder a “mortgagee in possession”
absent Holder’s express written acknowledgment to the contrary. 
 Section 14.8 STAMP AND OTHER TAXES.
Issuer shall pay any United States documentary stamp taxes, with interest and fines and penalties, and any mortgage recording taxes, with interest and fines and penalties, that may hereafter be levied, imposed or assessed under or upon or by reason
hereof or the Obligations or any instrument or transaction affecting or relating to either thereof and in default thereof Holder may advance the same and the amount so advanced shall be payable by Issuer to Holder on demand. 

Section 14.9 CERTAIN TAX LAW CHANGES. In the event of the passage after the date hereof of any law deducting from the
value of real property, for the purpose of taxation, amounts in respect of any Lien thereon or changing in any way the laws for the taxation of mortgages or debts secured by mortgages for state or local purposes or the manner of the collection of
any taxes, and imposing any taxes, either directly or indirectly, on this Security Instrument or any other Loan Document, Issuer shall promptly pay to Holder such amount or amounts as may be necessary from time to time to pay any such taxes,
assessments or other charges resulting therefrom; provided, that if any such payment or reimbursement shall be unlawful or taxable to Holder, or would constitute usury or render the indebtedness wholly or partially usurious under applicable
law, Issuer shall pay or reimburse Holder for payment of the lawful and non-usurious portion thereof. 
 Section 14.10
TERMINATION; RELEASE. When all the Obligations have been paid in full (other than contingent indemnification obligations for which no claim has been asserted that expressly survive the termination of this Security Instrument) and the
Commitments of the Lenders to make any Loans shall have expired or been sooner terminated, this Security Instrument shall terminate. Upon termination hereof or 

  
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any release of the Property or any portion thereof in accordance with the provisions of the Credit Agreement, the Holder shall, upon the request and at the sole cost and expense of the Issuer,
forthwith assign, transfer and deliver to Issuer, against receipt and without recourse to or warranty by the Holder, such of the Property to be released (in the case of a release) as may be in possession of Holder and as shall not have been sold or
otherwise applied pursuant to the terms hereof, and, with respect to any other Property, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Property, as
the case may be. 
 Section 14.11 MORTGAGEE’S RIGHT TO SEVER INDEBTEDNESS. 

(a) Issuer acknowledges that (A) the Property does not constitute the sole source of security for the payment and performance of the
Obligations and that the Obligations are also secured by property of Issuer and its Affiliates in other jurisdictions (all such property, collectively, the “Collateral”), (B) the number of such jurisdictions and the nature of
the transaction of which this instrument is a part are such that it would have been impracticable for the parties to allocate to each item of Collateral a specific loan amount and to execute in respect of such item a separate credit agreement and
(C) Issuer intends that Holder have the same rights with respect to the Property, in foreclosure or otherwise, that Holder would have had if each item of Collateral had been secured, mortgaged or pledged pursuant to a separate credit agreement,
mortgage or security instrument. In furtherance of such intent, Issuer agrees that Holder may at any time by notice (an “Allocation Notice”) to Issuer allocate a portion (the “Allocated Indebtedness”) of the
Obligations to the Property and sever from the remaining Obligations the Allocated Indebtedness. From and after the giving of an Allocation Notice with respect to the Property, the Obligations hereunder shall be limited to the extent set forth in
the Allocation Notice and (as so limited) shall, for all purposes, be construed as a separate loan obligation of the Issuer unrelated to the other transactions contemplated by the Credit Agreement, any other Loan Document or any document related to
any thereof. To the extent that the proceeds on any foreclosure of the Property shall exceed the Allocated Indebtedness, such proceeds shall belong to Issuer and shall not be available hereunder to satisfy any Obligations of Issuer other than the
Allocated Indebtedness. In any action or proceeding to foreclose the Lien hereof or in connection with any power of sale, foreclosure or other remedy exercised under this Security Instrument commenced after the giving by Holder of an Allocation
Notice, the Allocation Notice shall be conclusive proof of the limits of the Obligations hereby secured, and Issuer may introduce, by way of defense or counterclaim, evidence thereof in any such action or proceeding. Notwithstanding any provision of
this Section 14.11, the proceeds received by Holder pursuant to this Security Instrument shall be applied by Holder in accordance with the provisions of Section 8.02 of the Credit Agreement. 

(b) Holder hereby waives to the greatest extent permitted under law the right to a discharge of any of the Obligations under any statute
or rule of law now or hereafter in effect which provides that foreclosure of the Lien hereof or other remedy exercised under this Security Instrument constitutes the exclusive means for satisfaction of the Obligations or which makes unavailable a
deficiency judgment or any subsequent remedy because Holder elected to proceed with a power of sale foreclosure or such other remedy or because of any failure by the Holder to comply with laws that prescribe conditions to the entitlement to a
deficiency judgment. In the event that, notwithstanding the foregoing waiver, any court shall for any reason hold that the Holder is not entitled to a deficiency judgment, Issuer shall not (A) introduce in any other

  
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jurisdiction such judgment as a defense to enforcement against Issuer of any remedy in the Credit Agreement or any other Loan Document or (B) seek to have such judgment recognized or entered
in any other jurisdiction, and any such judgment shall in all events be limited in application only to the state or jurisdiction where rendered. 
 (c) In the event any instrument in addition to the Allocation Notice is necessary to effectuate the provisions of this Section 14.11, including, without limitation, any amendment to this
Security Instrument, any substitute promissory note or affidavit or certificate of any kind, the Holder may execute, deliver or record such instrument as the attorney-in-fact of the Issuer. Such power of attorney is coupled with an interest and is
irrevocable. 
 (d) Notwithstanding anything set forth herein to the contrary, the provisions of this Section 14.11
shall be effective only to the maximum extent permitted by law. 
 Article 15 - CASUALTY EVENTS AND RESTORATION

 Section 15.1 CASUALTY EVENT. If there shall occur any Casualty Event (or, in the case of any
condemnation, taking or other proceeding in the nature thereof, upon the occurrence thereof or notice of the commencement of any proceedings therefor), Issuer shall promptly send to Holder a written notice setting forth the nature and extent
thereof. Subject to the terms of the MSCG Intercreditor Agreement (the “First Intercreditor Agreement”) and subject to the terms of the Revolver-Term Loan Intercreditor Agreement (the “Second Intercreditor
Agreement”; together with the First Intercreditor Agreement, the “Intercreditor Agreement”), the proceeds payable in respect of any such Casualty Event are hereby assigned and shall be paid to Holder. The Net Cash Proceeds
of each Casualty Event shall be applied, allocated and distributed in accordance with the provisions of the Credit Agreement. “Casualty Event” as used herein shall mean any loss of title or any loss of or damage to or destruction
of, or any condemnation or other taking of the Property (including but not limited to any taking of all or any part of the Property in or by condemnation or other eminent domain proceedings pursuant to any law, or by reason of the temporary
requisition of the use or occupancy of all or any part of the Property by any Governmental Authority, civil or military, or any settlement in lieu thereof). 
 Section 15.2 CONDEMNATION. In the case of any taking, condemnation or other proceeding in the nature thereof, Holder may, at its option, participate in any proceedings or negotiations
which might result in any taking or condemnation and the Issuer shall deliver or cause to be delivered to Holder all instruments reasonably requested by it to permit such participation. Holder may be represented by counsel reasonably satisfactory to
it at the reasonable expense of Issuer in connection with any such participation. Issuer shall pay all reasonable fees, costs and expenses incurred by Holder in connection therewith and in seeking and obtaining any award or payment on account
thereof. Subject to the terms of the Intercreditor Agreement, Issuer shall take all steps necessary to notify the condemning authority of such assignment. 
 Section 15.3 RESTORATION. In the event Issuer is permitted or required to perform any restoration pursuant to the provisions of the Credit Agreement and the Intercreditor Agreement,
Issuer shall complete such restoration in accordance with provisions thereof. 

  
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 Article 16 - STATUS OF PARTIES 

Section 16.1 STATUS OF ISSUER. Issuer’s exact legal
name is correctly set forth in the first paragraph of this Security Instrument and the signature block at the end of this Security Instrument. Issuer is an organization of the type specified in the first paragraph of this Security Instrument. Issuer
is incorporated in or organized under the laws of the state specified in the first paragraph of this Security Instrument. Issuer’s principal place of business and chief executive office, and the place where Issuer keeps its books and records,
including recorded data of any kind or nature, regardless of the medium or recording, including software, writings, plans, specifications and schematics, has been for the preceding four months (or, if less, the entire period of the existence of
Issuer) the address of Issuer set forth in the first paragraph of this Security Instrument. Issuer will not change or permit to be changed (a) Issuer’s name, (b) Issuer’s identity (including its trade name or names),
(c) Issuer’s principal place of business set forth in the first paragraph of this Security Instrument, (d) the corporate, partnership or other organizational structure of Issuer, (e) Issuer’s state of organization, or
(f) Issuer’s organizational number, without notifying Holder of such change in writing at least thirty (30) days prior to the effective date of such change and, in the case of a change in Issuer’s structure, without first
obtaining the prior written consent of Holder unless such consent is not required pursuant to the other Loan Documents. If Issuer does not now have an organizational identification number and later obtains one, Issuer promptly shall notify Holder of
such organizational identification number. 
 Section 16.2 INCONSISTENCY. In
the event any of the terms and conditions of this Security Instrument are inconsistent with the terms and conditions of the Credit Agreement, the terms and conditions of the Credit Agreement shall control, except with regard to provisions
establishing the lien and security interest granted by this Security Instrument and the rights and remedies granted hereunder, which, in the case of the rights and remedies granted hereunder, shall be in addition to any rights and remedies contained
in the Credit Agreement or any other Loan Document. 
 Section 16.3 CONCERNING HOLDER. 

(a) The Holder has been appointed as Administrative Agent pursuant to the Credit Agreement. The actions of the Holder hereunder are
subject to the provisions of the Credit Agreement. The Holder shall have the right hereunder to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking action (including, without
limitation, the release or substitution of the Property), in accordance with this Security Instrument and the Credit Agreement. The Holder may employ agents and attorneys-in-fact in connection herewith. The Holder may resign and a successor Holder
may be appointed in the manner provided in the Credit Agreement. Upon the acceptance of any appointment as the Holder by a successor Holder, that successor Holder shall thereupon succeed to and become vested with all the rights, powers, privileges
and duties of the retiring Holder under this Security Instrument, and the retiring Holder shall thereupon be discharged from its duties and obligations thereafter arising under this Security Instrument. After any retiring Holder’s resignation,
the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Security Instrument while it was the Holder. 

  
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 (b) The Holder shall be deemed to have exercised reasonable care in the custody and
preservation of the Property in its possession if such Property is accorded treatment substantially equivalent to that which the Holder, in its individual capacity, accords its own property consisting of similar instruments or interests, it being
understood that neither the Holder nor any of the Secured Parties shall have responsibility for taking any necessary steps to preserve rights against any person with respect to any Property. 

(c) The Holder shall be entitled to rely upon any written notice, statement, certificate, order or other document or any telephone
message believed by it to be genuine and correct and to have been signed, sent or made by the proper person, and, with respect to all matters pertaining to this Security Instrument and its duties hereunder, upon advice of counsel selected by it.

 (d) With respect to any of its rights and obligations as a Lender, the Holder shall have and may exercise the same rights and
powers hereunder. The term “Lenders,” “Lender” or any similar terms shall, unless the context clearly otherwise indicates, include the Holder in its individual capacity as a Lender. The Holder may accept deposits from, lend money
to, and generally engage in any kind of banking, trust or other business with the Issuer or any Affiliate of the Issuer to the same extent as if the Holder were not acting as Administrative Agent. 

(e) If any portion of the Property also constitutes collateral granted by any Loan Party to the Holder to secure the Obligations under
any other deed of trust, mortgage, security agreement, pledge or instrument of any type, in the event of any conflict between the provisions hereof and the provisions of such other deed of trust, mortgage, security agreement, pledge or instrument of
any type in respect of such collateral, the Holder, in its sole discretion, shall select which provision or provisions shall control. 
 Section 16.4 HOLDER MAY PERFORM; HOLDER APPOINTED ATTORNEY-IN-FACT. If the Issuer shall fail to perform any covenants contained in this Security Instrument (including, without
limitation, the Issuer’s covenants to (i) pay the premiums in respect of all required insurance policies hereunder or under the Credit Agreement, (ii) pay Charges, (iii) make repairs, (iv) discharge Liens) or if any warranty
on the part of the Issuer contained herein shall be breached, the Holder may (but shall not be obligated to), after notice to Issuer, do the same or cause it to be done or remedy any such breach, and may expend funds for such purpose;
provided, however, that the Holder shall in no event be bound to inquire into the validity of any tax, lien, imposition or other obligation which the Issuer fails to pay or perform as and when required hereby and which the Issuer does
not contest in accordance with the provisions of the Credit Agreement. Any and all amounts so expended by the Holder shall be paid by the Issuer in accordance with the provisions of the Credit Agreement. Neither the provisions of this
Section 16.4 nor any action taken by the Holder pursuant to the provisions of this Section 16.4 shall prevent any such failure to observe any covenant contained in this Security Instrument nor any breach of warranty from
constituting an Event of Default. The Issuer hereby appoints the Holder its attorney-in-fact, with full authority in the place and stead of the Issuer and in the name of the Issuer, or otherwise, from time to time in the Holder’s discretion to
take 

  
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any action and to execute any instrument consistent with the terms hereof and the other Loan Documents which the Holder may deem necessary or advisable to accomplish the purposes hereof. The
foregoing grant of authority is a power of attorney coupled with an interest and such appointment shall be irrevocable for the term hereof. Notwithstanding the foregoing, such power of attorney shall only be exercised by Holder upon the occurrence
of and during the continuance of an Event of Default. The Issuer hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof. 
 Article 17 - STATE SPECIFIC PROVISIONS 
 Section 17.1
PRINCIPLES OF CONSTRUCTION. In the event of any inconsistencies between the terms and conditions of this Article 17 and the other terms and conditions of this Security
Instrument, the terms and conditions of this Article 17 shall control and be binding. 
 Section 17.2 This
Mortgage and the indebtedness secured hereby have and may be entitled to the lien priority provided by 25 Del. C. § 2118. 

Section 17.3 PURSUANT TO 25 DEL. C. § 2118, THIS SECURITY INSTRUMENT SHALL SECURE NOT ONLY EXISTING INDEBTEDNESS, BUT
ALSO FUTURE ADVANCES AND DISBURSEMENTS. THE TOTAL AMOUNT OF SUCH INDEBTEDNESS HAVING PRIORITY ESTABLISHED BY THIS SECURITY INSTRUMENT MAY DECREASE OR INCREASE FROM TIME TO TIME, BUT THE TOTAL UNPAID PRINCIPAL BALANCE AT ANY ONE TIME SHALL NOT EXCEED
FIVE HUNDRED MILLION AND NO/100 DOLLARS ($500,000,000). 
 Section 17.4 This Security Instrument is intended to be
executed and delivered by Issuer, and accepted by Holder, as a sealed instrument. 
 Section 17.5 The Maturity Date
of the Notes is [            ]. 
 Section 17.6
ASSIGNMENT OF LEASES AND RENTS AND PROFITS. The following language shall be added to the end of Section 1.2 of
this Security Instrument as a part thereof: 
 “This Security Instrument is intended to assign rents and leases pursuant to
25 Del. C. § 2121.” 
 [NO FURTHER TEXT ON THIS PAGE] 

  
 24 

 IN WITNESS WHEREOF, this Security Instrument has been executed under seal by Issuer
as of the day and year first above written. 
  

			
	 DELAWARE CITY REFINING COMPANY LLC,
 a Delaware limited liability company

		
	By:	 	(SEAL)
		 	Name:
		 	Title:

  
 [signature
page to Mortgage] 

							
	STATE OF                 )	  		  		  	
	                              
       ): ss	  		  		  	
	COUNTY OF              )	  		  		  	

I,                    , a
Notary Public in and for the aforesaid State and County, do hereby certify
that                                personally appeared before me this day and
that by the authority duly given and on behalf of                            , acknowledged the
foregoing instrument was signed and executed by them for the purposes therein expressed. 
 WITNESS my hand and notarial seal
this the        day of            ,              . 

 

	
	Sealed and delivered in the presence of:
	
	  
	Name:
	Title:

  

[acknowledgment page to Mortgage] 

 EXHIBIT A 

(Legal Description) 

 EXHIBIT K-1 
 [Form of] 
 REVOLVING NOTE 

 

			
	$             	 	New York, New York
		 	[Date]

 FOR VALUE RECEIVED, the undersigned, PBF HOLDING COMPANY LLC, a Delaware limited liability company
(“Holdings”), DELAWARE CITY REFINING COMPANY LLC, a Delaware limited liability company (“Delaware City”), PAULSBORO REFINING COMPANY LLC, a Delaware limited liability company (“Paulsboro”) and
TOLEDO REFINING COMPANY LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), hereby promise
to pay to the order of [LENDER] (the “Lender”) on the Revolving Maturity Date (as defined in the Credit Agreement referred to below), in lawful money of the United States and in immediately available funds, the principal amount of
the lesser of (a)              DOLLARS ($            ) and (b) the aggregate unpaid principal amount of all
Revolving Loans of the Lender outstanding under the Credit Agreement referred to below. Borrowers further agree to pay interest in like money at such office specified in Section 2.14 of the Credit Agreement on the unpaid principal amount hereof
from time to time from the date hereof at the rates, and on the dates, specified in Section 2.06 of such Credit Agreement. 

The holder of this Note may endorse and attach a schedule to reflect the date, Type and amount of each Revolving Loan of the Lender
outstanding under the Credit Agreement, the date and amount of each payment or prepayment of principal hereof, and the date of each interest rate conversion or continuation pursuant to Section 2.08 of the Credit Agreement and the principal
amount subject thereto; provided that the failure of the Lender to make any such recordation (or any error in such recordation) shall not affect the obligations of Borrowers hereunder or under the Credit Agreement. 

This Note is one of the Notes referred to in the Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (as
amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining
Company LLC, a Delaware limited liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company
(“Paulsboro”) Toledo Refining Company, LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a
“Borrower”), the Subsidiary Guarantors, the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers (in such capacities,
“Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”),UBS LOAN
FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as Issuing Bank (in such capacity, “Issuing Bank”), as administrative agent (in such capacity,
“Administrative Agent”) for the Lenders, the Secured Parties and Issuing Bank, and as a co-collateral agent (in such capacity, “UBS Collateral Agent”) and DEUTSCHE

  
 K-1-1

 
BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as co-collateral agents,
the “Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in such capacities as co-documentation agents, the
“Co-Documentation Agents”), is subject to the provisions thereof and is subject to optional and mandatory prepayment in whole or in part as provided therein. Terms used herein which are defined in the Credit Agreement shall have
such defined meanings unless otherwise defined herein or unless the context otherwise requires. 
 This Note is secured and
guaranteed as provided in the Credit Agreement and the Security Documents. Reference is hereby made to the Credit Agreement and the Security Documents for a description of the properties and assets in which a security interest has been granted, the
nature and extent of the security and guarantees, the terms and conditions upon which the security interest and each guarantee was granted and the rights of the holder of this Note in respect thereof. 

Upon the occurrence of any one or more of the Events of Default specified in the Credit Agreement, all amounts then remaining unpaid on
this Note shall become, or may be declared to be, immediately due and payable, all as provided therein. 
 All parties now and
hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, endorser or otherwise, hereby waive (to the extent permitted by applicable law) presentment, demand, protest and all other notices of any kind. 

THIS NOTE MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS OF THE CREDIT AGREEMENT. TRANSFERS OF THIS NOTE MUST BE RECORDED
IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT PURSUANT TO THE TERMS OF THE CREDIT AGREEMENT. 
 THIS NOTE SHALL
BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 

[Signature Page Follows] 

  
 K-1-2

 
			
	PBF HOLDING COMPANY LLC
DELAWARE CITY REFINING COMPANY LLC
PAULSBORO REFINING COMPANY LLC
TOLEDO REFINING COMPANY LLC,
as Borrowers
		
	By:	 	 
		 	Name:
		 	Title:

  
 K-1-3

 EXHIBIT K-2 
 [Form of] 
 SWINGLINE NOTE 

 

					
	$             	 		 	New York, New York
		 		 	[Date]

 FOR VALUE RECEIVED, the undersigned, PBF HOLDING COMPANY LLC, a Delaware limited liability company
(“Holdings”), DELAWARE CITY REFINING COMPANY LLC, a Delaware limited liability company (“Delaware City”), PAULSBORO REFINING COMPANY LLC, a Delaware limited liability company (“Paulsboro”) and
TOLEDO REFINING COMPANY LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), hereby promise
to pay to the order of UBS AG, STAMFORD BRANCH (the “Lender”) on the Revolving Maturity Date (as defined in the Credit Agreement referred to below), in lawful money of the United States and in immediately available funds, the
principal amount of the lesser of (a)                      ($
            ) and (b) the aggregate unpaid principal amount of all Swingline Loans made by Lender to the undersigned pursuant to Section 2.17 of the Credit Agreement
referred to below. Borrowers further agree to pay interest on the unpaid principal amount hereof in like money at such office specified in Section 2.14 of the Credit Agreement from time to time from the date hereof at the rates and on the dates
specified in Section 2.06 of the Credit Agreement. 
 The holder of this Note may endorse and attach a schedule to reflect
the date, the amount of each Swingline Loan and the date and amount of each payment or prepayment of principal thereof; provided that the failure of Lender to make such recordation (or any error in such recordation) shall not affect the
obligations of Borrower hereunder or under the Credit Agreement. 
 This Note is one of the Notes referred to in the Amended and
Restated Revolving Credit Agreement dated as of May 31, 2011 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited
liability company (“Holdings”), Delaware City Refining Company LLC, a Delaware limited liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware
corporation), a Delaware limited liability company (“Paulsboro”), Toledo Refining Company LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro,
“Borrowers” and each individually, a “Borrower”), the Subsidiary Guarantors, the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG, CAYMAN ISLANDS
BRANCH, as joint lead arrangers (in such capacities, “Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as syndication agent (in such
capacity, “Syndication Agent”),UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as Issuing Bank (in such capacity, “Issuing Bank”), as
administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured Parties and Issuing Bank, and as a co-collateral agent (in such capacity, “UBS Collateral Agent”) and DEUTSCHE BANK TRUST
COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as co-collateral agents, the 

  
 K-2-1

 
“Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in
such capacities as co-documentation agents, the “Co-Documentation Agents”), is subject to the provisions thereof and is subject to optional and mandatory prepayment in whole or in part as provided therein. Terms used herein which
are defined in the Credit Agreement shall have such defined meanings unless otherwise defined herein or unless the context otherwise requires. 
 This Note is secured and guaranteed as provided in the Credit Agreement and the Security Documents. Reference is hereby made to the Credit Agreement and the Security Documents for a description of the
properties and assets in which a security interest has been granted, the nature and extent of the security and guarantees, the terms and conditions upon which the security interest and each guarantee was granted and the rights of the holder of this
Note in respect thereof. 
 Upon the occurrence of any one or more of the Events of Default specified in the Credit Agreement,
all amounts then remaining unpaid on this Note may become, or may be declared to be, immediately due and payable as provided in the Credit Agreement. 
 All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, endorser or otherwise, hereby waive (to the extent permitted by applicable law) presentment,
demand, protest and all other notices of any kind. 
 THIS NOTE MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS OF
THE CREDIT AGREEMENT. TRANSFERS OF THIS NOTE MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT PURSUANT TO THE TERMS OF THE CREDIT AGREEMENT. 
 THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION. 
 [Signature Page Follows] 

  
 K-2-2

 
			
	PBF HOLDING COMPANY LLC
DELAWARE CITY REFINING COMPANY LLC
PAULSBORO REFINING COMPANY LLC
TOLEDO REFINING COMPANY LLC,
as Borrowers
		
	By:	 	 
		 	Name:
		 	Title:

  
 K-2-3

 EXHIBIT L-2 
 FORM OF PERFECTION CERTIFICATE SUPPLEMENT 
 This Perfection
Certificate Supplement, dated as of [                    ], 201[  ] is delivered pursuant to Section 5.12(b) of: (i) that certain
Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (the “ABL Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining
Company LLC, a Delaware limited liability company (“Delaware City”), Paulsboro Refining Company LLC, a Delaware limited liability company (“Paulsbo-ro”), Toledo Refining Company LLC, a Delaware limited liability
company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), the Subsidiary Guarantors party thereto and UBS AG, Stamford Branch, as
administrative agent (in such capacity, “ABL Administrative Agent”) and UBS AG, Stamford Branch and Deutsche Bank Trust Company Americas, as co-collateral agents; and (ii) that certain Term Loan Credit Agreement dated as of
December 17, 2010 (the “Term Loan Credit Agreement” and together with the ABL Credit Agreement, the “Credit Agreements”) among the Borrowers, the Subsidiary Guarantors party thereto, certain other parties
thereto, Term Loan Administrative Agent and UBS AG, Stamford Branch, as Collateral Agent. Capitalized terms used but not defined herein have the meanings assigned to them in the respective Credit Agreements. 

As used herein, the term “Companies” means the Borrowers and each of their respective Subsidiaries (other than Excluded
Subsidiaries). 
 The undersigned hereby certify to the ABL Administrative Agent and the Term Loan Administrative Agent that, as
of the date hereof, there has been no change in the information described in the Perfection Certificate delivered on the Closing Date (as supplemented by any perfection certificate supplements delivered prior to the date hereof, the “Prior
Perfection Certificate”), other than as follows: 
 1. Names. (a) Except as listed on Schedule
1(a) attached hereto and made a part hereof, (x) Schedule 1(a) to the Prior Perfection Certificate sets forth the exact legal name of each Company, as such name appears in its respective certificate of incorporation or any
other organizational document; (y) each Company is (i) the type of entity disclosed next to its name in Schedule 1(a) to the Prior Perfection Certificate and (ii) a registered organization except to the extent disclosed
in Schedule 1(a) to the Prior Perfection Certificate and (z) set forth in Schedule 1(a) to the Prior Perfection Certificate is the organizational identification number, if any, of each Company that is a registered
organization, the Federal Tax payer Identification Number of each Company and the jurisdiction of formation of each Company. 

(b) Except as listed on Schedule 1(b) attached hereto and made a part hereof, set forth in Schedule 1(b) of
the Prior Perfection Certificate is any other corporate or organizational names each Company has had in the past five years, together with the date of the relevant change. 
 2. Current Locations. (a) Except as listed on Schedule 2(a) attached hereto and made a part hereof, the chief executive office of each Company is located at the address set forth
in Schedule 2(a) of the Prior Perfection Certificate. 
 (b) Except as listed on Schedule 2(b)
attached hereto and made a part hereof, set forth in Schedule 2(b) of the Prior Perfection Certificate are all locations where each Company maintains any books or records relating to any Collateral. 

 (c) Except as listed on Schedule 2(c) attached hereto and made a part hereof,
set forth in Schedule 2(c) of the Prior Perfection Certificate are all the other places of business of each Company. 
 (d) Except as listed on Schedule 2(d) attached hereto and made a part hereof, set forth in Schedule 2(d) of the Prior Perfection Certificate are all other locations where each
Company maintains any of the Collateral consisting of inventory or equipment not identified above. 
 (e) Except as listed on
Schedule 2(e) attached hereto and made a part hereof, set forth in Schedule 2(e) of the Prior Perfection Certificate are the names and addresses of all persons or entities other than each Company, such as lessees,
consignees, warehousemen or purchasers of chattel paper, which have possession or are intended to have possession of any of the Collateral consisting of instruments, chattel paper, inventory or equipment. 

3. [Intentionally omitted]. 
 4. Extraordinary Transactions. Except for those purchases, acquisitions and other transactions described on Schedule 4 attached hereto and on Schedule 4 to the Prior
Perfection Certificate, all of the Collateral has been originated by each Company in the ordinary course of business or consists of goods which have been acquired by such Company in the ordinary course of business from a person in the business of
selling goods of that kind. 
 5. [Intentionally omitted]. 

6. UCC Filings. Except as listed on Schedule 6 attached hereto and made a part hereof, the financing statements
(duly authorized by each Company constituting the debtor therein), including the indications of the collateral relating to the applicable Security Agreement or the applicable Mortgage, are set forth in Schedule 6 of the Prior
Perfection Certificate and are in the appropriate forms for filing in the filing offices in the jurisdictions identified in Schedule 7 hereto and thereto. 
 7. Schedule of Filings. Except as listed on Schedule 7 attached hereto and made a part hereof, attached to the Prior Perfection Certificate as Schedule 7 is a schedule
of (i) the appropriate filing offices for the financing statements attached hereto and thereto as Schedule 6 and (ii) the appropriate filing offices for the filings described in Schedule 12(c) hereto and thereto
and (iii) any other actions required to create, preserve, protect and perfect the security interests in the Pledged Collateral (as defined in the applicable Security Agreement) granted to the ABL Administrative Agent and the Term Loan
Administrative Agent pursuant to the applicable Collateral Documents. No other filings or actions are required to create, preserve, protect and perfect the security interests in the Pledged Collateral granted to the ABL Administrative Agent and the
Term Loan Administrative Agent pursuant to the applicable Collateral Documents. 
 8. Real Property. Except as listed on
Schedule 8(a) attached hereto and made a part hereof, Schedule 8(a) to the Prior Perfection Certificate is a list of all real property owned or leased by each Company including common names, addresses and uses. Except as
described on Schedule 8(b) attached hereto, no Company has entered into any leases, subleases, tenancies, franchise agreements, licenses or other occupancy arrangements as owner, lessor, sublessor, licensor, franchisor or grantor with
respect to any of the real property described on Schedule 8(a) or Schedule 8(a) of the Prior Perfection Certificate, other than those listed on Schedule 8(b) of the Prior Perfection Certificate, and no
Company has any Leases which require the consent of the landlord, tenant or other party thereto to the Transactions. Except as described on Schedule 8(c) attached hereto, no Company has granted any options or rights of first refusal to
third parties in respect of any of the Mortgaged Property (other than options for renewal under any lease, sublease or similar agreement). 

  
 -2-

 9. [Intentionally omitted]. 

10. Stock Ownership and Other Equity Interests. Except as listed on Schedule 10(a) attached hereto and made a part
hereof, Schedule 10(a) to the Prior Perfection Certificate is a true and correct list of all of the authorized, and the issued and outstanding, stock, partnership interests, limited liability company membership interests or other
equity interest, as applicable, of each Company and its Subsidiaries and the record and beneficial owners of such stock, partnership interests, membership interests or other equity interests, as applicable. Except as set forth on Schedule
10(b) attached hereto and made a part hereof, Schedule 10(b) to the Prior Perfection Certificate sets forth each equity investment of each Company that represents 50% or less of the equity of the entity in which such investment
was made. 
 11. Instruments and Tangible Chattel Paper. Except as listed on Schedule 11 attached hereto
and made a part hereof, Schedule 11 to the Prior Perfection Certificate is a true and correct list of all promissory notes, instruments (other than checks to be deposited in the ordinary course of business), tangible chattel paper,
electronic chattel paper and other evidence of indebtedness held by each Company as of the date hereof, including all intercompany notes between or among any two or more Companies. 

12. Intellectual Property. (a) Except as listed on Schedule 12(a) attached hereto and made a part hereof,
Schedule 12(a) to the Prior Perfection Certificate is a schedule setting forth all of each Company’s Patents, Trademarks and Intellectual Property Licenses (each as defined in the applicable Security Agreement) with respect to
Patents and Trademarks registered with the United States Patent and Trademark Office, and all other Patents, Trademarks and Intellectual Property Licenses with respect to Patents and Trademarks, including the name of the registered owner and the
registration number of each Patent, Trademark and Intellectual Property License with respect to Patents and Trademarks owned by each Company. 
 (b) Except as listed on Schedule 12(b) attached hereto and made a part hereof, Schedule 12(b) to the Prior Perfection Certificate is a schedule setting forth all of each
Company’s United States Copyrights (as defined in the applicable Security Agreement) and Intellectual Property Licenses with respect to Copyrights, and all other Copyrights and Intellectual Property Licenses with respect to Copyrights,
including the name of the registered owner and the registration number of each Copyright or Intellectual Property License with respect to Copyrights owned by such Company. 
 (c) Except as attached hereto and made a part hereof as Schedule 12(c), attached to the Prior Perfection Certificate as Schedule 12(c) in proper form for filing with the United
States Patent and Trademark Office or United States Copyright Office are the filings necessary to preserve, protect and perfect the security interests in the United States Trademarks, Patents, Copyrights and Intellectual Property Licenses set forth
on Schedule 12(a) and Schedule 12(b) hereto and thereto, including duly signed copies of each of the Patent Security Agreement, Trademark Security Agreement and the Copyright Security Agreement, as applicable. 

13. Commercial Tort Claims. Except as listed on Schedule 13 attached hereto and made a part hereof, attached to the
Prior Perfection Certificate as Schedule 13 is a true and correct list of all Commercial Tort Claims (as defined in the applicable Security Agreement) held by each Company, including a brief description thereof. 

  
 -3-

 14. Deposit Accounts, Securities Accounts, Futures Accounts and Commodity Accounts.
Except as listed on Schedule 14 attached hereto and made a part hereof, attached to the Prior Perfection Certificate as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity
Accounts (each as defined in the applicable Security Agreement) maintained by each Company, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each account.

 15. Letter-of-Credit Rights. Except as listed on Schedule 15 attached hereto and made a part hereof,
attached to the Prior Perfection Certificate as Schedule 15 is a true and correct list of all Letters of Credit issued in favor of each Company, as beneficiary thereunder. 

[The Remainder of this Page has been intentionally left blank] 

  
 -4-

 IN WITNESS WHEREOF, we have hereunto signed this Perfection Certificate as of this
         day of                     , 201[    ]. 

 

			
	BORROWERS:
	
	PBF HOLDING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:
	
	DELAWARE CITY REFINING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:
	
	PAULSBORO REFINING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:
	
	TOLEDO REFINING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:

  
 -5-

 
			
	    SUBSIDIARY GUARANTORS:
	
	PBF INVESTMENTS LLC
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	DELAWARE PIPELINE COMPANY LLC
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	PBF POWER MARKETING LLC
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	PAULSBORO NATURAL GAS PIPELINE COMPANY
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 -6-

 Schedule 1(a) 

Legal Names, Etc. 
  

											
	 Legal Name
	  	Type of Entity	  	Registered Organization
(Yes/No)	  	Organizational Number1	  	Federal Taxpayer
Identification Number	  	Jurisdiction of Formation
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	

  

	1 	 If none, so state. 

  
 -7-

 Schedule 1(b) 

Prior Organizational Names 
  

					
	 Company/Subsidiary
	  	 Prior Name
	    	 Date of Change

		  		    	
		  		    	
		  		    	
		  		    	
		  		    	

 Schedule 2(a) 

Chief Executive Offices 
  

			
	 Company/Subsidiary
	  	 Address

		  	
		  	
		  	
		  	
		  	
		  	

 Schedule 2(b) 

Location of Books 
  

			
	 Company/Subsidiary
	  	 Address

		  	
		  	
		  	
		  	
		  	
		  	

 Schedule 2(c) 

Other Places of Business 
  

			
	 Company/Subsidiary
	  	 Address

		  	
		  	
		  	
		  	
		  	
		  	

 Schedule 2(d) 

Additional Locations of Equipment and Inventory 

 

			
	 Company/Subsidiary
	  	 Address

		  	
		  	
		  	
		  	
		  	
		  	

 Schedule 2(e) 

Locations of Collateral in Possession of Persons Other Than Company or Any Subsidiary 

 

					
	 Company/Subsidiary
	  	 Name of Entity in Possession of

Collateral/Capacity of such Entity
	    	 Address/Location of Collateral

		  		    	
		  		    	
		  		    	
		  		    	
		  		    	

 Schedule 4 

Transactions Other Than in the Ordinary Course of Business 

 

					
	 Company/Subsidiary
	  	
Description of Transaction Including Parties Thereto
	    	 Date of Transaction

		  		    	
		  		    	
		  		    	
		  		    	
		  		    	

 Schedule 6 

Copy of Financing Statements To Be Filed 
 See attached. 

 Schedule 7 

Filings/Filing Offices 
  

							
	 Type of Filing1
	  	 Entity
	  	 Applicable Collateral

Document

[Mortgage, Security

Agreement or Other]
	  	 Jurisdictions

		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

  

	1 	 UCC-1 or PPSA financing statement, fixture filing, mortgage, intellectual property filing or other necessary filing. 

 Schedule 8(a) 

Real Property 
  

									
	 Entity of Record
	  	 Location Address
	  	 Owned or

Leased
	  	 Landlord/Owner

if Leased
	  	 Description of

Lease Documents

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

 Schedule 8(b) 
 Leases, Subleases, Tenancies, Franchise Agreements, Licenses or Other Occupancy Arrangements 

 Schedule 10 

(a) Equity Interests of Companies and Subsidiaries 

 

									
	 Current Legal
 Entities Owned
	  	 Record Owner
	  	 Certificate No.
	  	 No. Shares/Interest
	  	 Percent Pledged

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

 (b) Other Equity Interests 

 Schedule 11 

Instruments and Tangible Chattel Paper 
  

	1.	Promissory Notes: 

  

									
	 Entity
	  	 Principal Amount
	  	 Date of Issuance
	  	 Interest Rate
	  	 Maturity Date

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

	2.	Chattel Paper: 

 Schedule 12(a) 

Patents and Trademarks 
 UNITED STATES PATENTS: 
 Registrations: 

 

					
	 OWNER
	  	REGISTRATION
NUMBER	  	DESCRIPTION

 Applications: 
  

					
	 OWNER
	  	APPLICATION
NUMBER	  	DESCRIPTION

 Licenses: 
  

							
	 LICENSEE
	  	LICENSOR	  	REGISTRATION/
APPLICATION
NUMBER	  	DESCRIPTION

 OTHER PATENTS: 
 Registrations: 

 

							
	 OWNER
	  	REGISTRATION
NUMBER	  	COUNTRY/STATE	  	DESCRIPTION

 Applications: 
  

							
	 OWNER
	  	APPLICATION
NUMBER	  	COUNTRY/STATE	  	DESCRIPTION

 Licenses: 
  

									
	 LICENSEE
	  	LICENSOR	  	COUNTRY/STATE	  	REGISTRATION/
APPLICATION
NUMBER	  	DESCRIPTION

 UNITED STATES TRADEMARKS: 
 Registrations: 

 

					
	 OWNER
	  	REGISTRATION
NUMBER	  	TRADEMARK

 Applications: 
  

					
	 OWNER
	  	APPLICATION
NUMBER	  	TRADEMARK

 Licenses: 
  

							
	 LICENSEE
	  	LICENSOR	  	REGISTRATION/
APPLICATION
NUMBER	  	TRADEMARK

 OTHER TRADEMARKS: 
 Registrations: 

 

							
	 OWNER
	  	REGISTRATION
NUMBER	  	COUNTRY/STATE	  	TRADEMARK

 Applications: 
  

							
	 OWNER
	  	APPLICATION
NUMBER	  	COUNTRY/STATE	  	TRADEMARK

 Licenses: 
  

									
	 LICENSEE
	  	LICENSOR	  	COUNTRY/STATE	  	REGISTRATION/
APPLICATION
NUMBER	  	TRADEMARK

 Schedule 12(b) 

Copyrights 

UNITED STATES COPYRIGHTS 
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	  	TITLE	  	REGISTRATION NUMBER

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	 OWNER
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	  	LICENSOR	  	REGISTRATION/
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 OTHER COPYRIGHTS 
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	  	COUNTRY/STATE	  	TITLE	  	REGISTRATION NUMBER

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 Schedule 12(c) 

Intellectual Property Filings 

 Schedule 13 

Commercial Tort Claims 

 Schedule 14 

Deposit Accounts, Securities Accounts and Commodity Accounts 

 

							
	 OWNER
	  	TYPE OF ACCOUNT	  	BANK OR
INTERMEDIARY	  	ACCOUNT NUMBERS

 Schedule 15 

Letter of Credit Rights 

 EXHIBIT M 
 [Form of] 
 TOLEDO SECURITY AGREEMENT 

[See Tab # 10] 

 EXHIBIT N 
 [Form of] 
 OPINION OF COMPANY COUNSEL 

[See Tab #24] 

  
 N-1

 EXHIBIT 0 
 SOLVENCY CERTIFICATE 
 The undersigned, each an authorized representative
of PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Paulsboro Refining Company LLC, a Delaware limited liability company (“Paulsboro”), Delaware City Refining Company LLC, a Delaware
limited liability company (“Delaware City” ) and Toledo Refining Company LLC, a Delaware limited liability company (“Toledo”), DO HEREBY CERTIFY, to the best of my knowledge, on behalf of Borrowers, and not
in any individual capacity, that: 
 1. This Certificate is furnished pursuant to Section 4.01(d) of the Amended and
Restated Revolving Credit Agreement (as in effect on the date of this Certificate) (the “Credit Agreement”) dated as of May 31, 2011, among Holdings, Paulsboro, Delaware City and Toledo, as Borrowers, the Subsidiary
Guarantors, the Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers and joint lead bookmanagers, UBS SECURITIES LLC, as a
co-documentation agent and as syndication agent, UBS LOAN FINANCE LLC, as swingline lender, UBS AG, STAMFORD BRANCH, as issuing bank, as administrative agent for the Lenders, the Secured Parties and Issuing Bank and as a co-collateral agent and
DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent and as a co-documentation agent. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Credit Agreement. 

2. I am familiar with the historical and current financial condition of the Loan Parties on a consolidated basis as an authorized officer
of such Loan Party. In preparing this certificate, I have made such investigations and inquiries as I deem necessary and prudent in connection with the matters set forth herein and have reviewed the terms of the Credit Agreement and the other Loan
Documents. 
 3. Based upon the foregoing, I have reached the conclusions that as of the date hereof, after giving effect to the
Transactions (including the incurrence of the Loans) to be consummated on the date of this certificate: 
 a. The
sum of the present fair saleable value of the assets of the Loan Parties on a consolidated basis, on a going concern basis, is greater than the total amount of liabilities (including contingent and unliquidated) of the Loan Parties on a consolidated
basis as they become absolute and matured. The amount of contingent or unliquidated liabilities having been computed at an amount that, in light of all of the facts and circumstances existing at the A&R Effective Date, represents the amount that
can reasonably be expected to become an actual or matured liability. 
 b. The Loan Parties do not, on a
consolidated basis, have unreasonably small capital in relation to their business. 
 c. The Loan Parties, on a
consolidated basis, have not incurred, do not intend to incur, and do not believe they will incur, debts beyond their ability to pay such debts as such debts mature in the ordinary course of business 

 EXHIBIT 0 

 

 IN WITNESS WHEREOF, I have hereunto set my hand this [    ] day of
[], 2011 
  

			
	PBF HOLDING COMPANY, LLC
		
	By:	 	 
		 	Name:
		 	Title: [Financial Officer]

  

			
	PAULSBORO REFINING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title: [Financial Officer]

  

			
	DELAWARE CITY REFINING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title: [Financial Officer]

  

			
	TOLEDO REFINING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title: [Financial Officer]

  

 EXHIBIT P 
 [Form of] 
 INTERCOMPANY NOTE 

New York, New York 

[date] 
 FOR VALUE
RECEIVED, each of the undersigned, to the extent a borrower from time to time from any other entity listed on the signature page hereto (each, in such capacity, a “Payor”), hereby promises to pay on demand to the order of such other
entity listed below (each, in such capacity, a “Payee”), in lawful money of the United States of America in immediately available funds, at such location in the United States of America as a Payee shall from time to time designate,
the unpaid principal amount of all loans and advances (including trade payables) made by such Payee to such Payor. Each Payor promises also to pay interest on the unpaid principal amount of all such loans and advances in like money at said location
from the date of such loans and advances until paid at such rate per annum as shall be agreed upon from time to time by such Payor and such Payee. 
 This note (“Note”) is an Intercompany Note referred to in (i) the Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining Company LLC, a
Delaware limited liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company (“Paulsboro”),
Toledo Refining Company LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), the Subsidiary
Guarantors, the Lenders (as defined in the Revolving Credit Agreement), UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers (in such capacities,
“Joint lead Arrangers”), UBS SECURITIES LLC, as a co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), UBS LOAN
FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as Issuing Bank (in such capacity, “Issuing Bank”), as administrative agent (in such capacity, “ABL
Administrative Agent”) for the Lenders, the Secured Parties (as defined in the Revolving Credit Agreement) and Issuing Bank, and as a co-collateral agent (in such capacity, “UBS Collateral Agent”) and DEUTSCHE BANK TRUST
COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and together with UBS Collateral Agent, in such capacities as co-collateral agents, the “ABL Co-Collateral Agents”) and as a
co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS Co-Documentation Agent, in such capacities as co-documentation agents, the “Co-Documentation Agents”) and (ii) the
Term Loan Credit Agreement dated as of December 17, 2010 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Term Loan Credit Agreement”) among Holdings, Delaware City, Paulsboro, the
Subsidiary Guarantors, the Lenders (as defined in the Term Loan Credit Agreement), the Joint Lead Arrangers, the Documentation Agent, the Syndication Agent , UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, “Term Loan
Administrative Agent” and together 

  
 P-1

 
with the ABL Administrative Agent, the “Agents”) for the Lenders, the Secured Parties (as defined in the Term Loan Credit Agreement) and as collateral agent (in such capacity,
“Term Loan Collateral Agent”), and is subject to the terms of the Revolving Credit Agreement and the Term Loan Credit Agreement, and shall be pledged by each Payee pursuant to the applicable Security Agreement, to the extent
required pursuant to the terms thereof. Each Payee hereby acknowledges and agrees that the Agents may exercise all rights provided in the ABL Credit Agreement or the Term Loan Credit Agreement, as the case may be, and the applicable Security
Agreement with respect to this Note. 
 Anything in this Note to the contrary notwithstanding, the indebtedness evidenced by
this Note owed by any Payor that is a Loan Party to any Payee other than Borrowers shall be subordinate and junior in right of payment, to the extent and in the manner hereinafter set forth, to all Obligations of such Payor under the applicable
Credit Agreement, including, without limitation, where applicable, under such Payor’s guarantee of the Obligations under the applicable Credit Agreement (such Obligations and other indebtedness and obligations in connection with any renewal,
refunding, restructuring or refinancing thereof, including interest thereon accruing after the commencement of any proceedings referred to in clause (i) below, whether or not such interest is an allowed claim in such proceeding, being
hereinafter collectively referred to as “Senior Indebtedness”): 
 (i) In the event of any
insolvency or bankruptcy proceedings, and any receivership, liquidation, reorganization or other similar proceedings in connection therewith, relative to any Payor or to its creditors, as such, or to its property, and in the event of any proceedings
for voluntary liquidation, dissolution or other winding up of such Payor, whether or not involving insolvency or bankruptcy, then (x) the holders of Senior Indebtedness shall be paid in full in cash in respect of all amounts constituting Senior
Indebtedness (other than Unasserted Contingent Obligations (as defined in the applicable Credit Agreement)) before any Payee is entitled to receive (whether directly or indirectly), or make any demands for, any payment on account of this Note and
(y) until the holders of Senior Indebtedness are paid in full in cash in respect of all amounts constituting Senior Indebtedness (other than Unasserted Contingent Obligations (as defined in the applicable Credit Agreement)), any payment or
distribution to which such Payee would otherwise be entitled (other than debt securities of such Payor that are subordinated, to at least the same extent as this Note, to the payment of all Senior Indebtedness then outstanding (such securities being
hereinafter referred to as “Restructured Debt Securities”)) shall be made to the holders of Senior Indebtedness; 
 (ii) if any event of default occurs and is continuing with respect to any Senior Indebtedness (including any Event of Default under the applicable Credit Agreement), then no payment or distribution of any
kind or character shall be made by or on behalf of the Payor or any other Person on its behalf with respect to this Note; and 
 (iii) if any payment or distribution of any character, whether in cash, securities or other property (other than Restructured Debt Securities), in respect of this Note shall (despite these subordination
provisions) be received by any Payee in violation of clause (i) or (ii) before all Senior Indebtedness shall have been paid in full in cash (other than Unasserted Contingent Obligations (as defined in the applicable Credit Agreement)),
such payment or distribution shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness (or their representatives), ratably according to the respective aggregate amounts remaining unpaid
thereon, to the extent necessary to pay all Senior Indebtedness in full in cash (other than Unasserted Contingent Obligations (as defined in the applicable Credit Agreement)). 

  
 P-2

 To the fullest extent permitted by law, no present or future holder of Senior Indebtedness
shall be prejudiced in its right to enforce the subordination of this Note by any act or failure to act on the part of any Payor or by any act or failure to act on the part of such holder or any trustee or agent for such holder. Each Payee and each
Payor hereby agree that the subordination of this Note is for the benefit of the Agents, the Issuing Bank and the Lenders and the Agents, the Issuing Bank and the Lenders are obligees under this Note to the same extent as if their names were written
herein as such and the Agents may, on their own behalf, the Issuing Bank and the Lenders, proceed to enforce the subordination provisions herein. 
 The indebtedness evidenced by this Note owed by any Payor that is not a Loan Party shall not be subordinated to, and shall rank pari passu in right of payment with, any other obligation of such
Payor. 
 Nothing contained in the subordination provisions set forth above is intended to or will impair, as between each Payor
and each Payee, the obligations of such Payor, which are absolute and unconditional, to pay to such Payee the principal of and interest on this Note as and when due and payable in accordance with its terms, or is intended to or will affect the
relative rights of such Payee and other creditors of such Payor other than the holders of Senior Indebtedness. 
 Each Payee is
hereby authorized to record all loans and advances made by it to any Payor (all of which shall be evidenced by this Note), and all repayments or prepayments thereof, in its books and records, such books and records constituting prima facie evidence
of the accuracy of the information contained therein. 
 Each Payor hereby waives (to the extent permitted by applicable law)
presentment, demand, protest or notice of any kind in connection with this Note. All payments under this Note shall be made without offset, counterclaim or deduction of any kind. 

  
 P-3

 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF. 
  

			
	PBF HOLDING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	DELAWARE CITY REFINING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	PAULSBORO REFINING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	PBF POWER MARKETING, LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	DELAWARE PIPELINE COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	PBF INVESTMENTS LLC
		
	By:	 	 
		 	Name:
		 	Title:

  
 P-4

 
			
	PAULSBORO NATURAL GAS PIPELINE COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	TOLEDO REFINING COMPANY LLC
		
	By:	 	 
		 	Name:
		 	Title:

  
 P-5

 EXHIBIT Q 
 [Form of] 
 NON-BANK CERTIFICATE 

Reference is made to the Amended and Restated Revolving Credit Agreement dated as of May 31, 2011 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”) among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining Company LLC, a Delaware limited
liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a Delaware limited liability company (“Paulsboro”), Toledo Refining
Company LLC, a Delaware limited liability company (“Toledo”, and together with Holdings, Delaware City and Paulsboro, “Borrowers” and each individually, a “Borrower”), the Subsidiary Guarantors, the
Lenders, UBS SECURITIES LLC, MORGAN STANLEY SENIOR FUNDING, INC., DEUTSCHE BANK SECURITIES INC. and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as joint lead arrangers (in such capacities, “Joint lead Arrangers”), UBS SECURITIES LLC,
as a co-documentation agent (in such capacity, “UBS Co-Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity,
“Swingline Lender”), UBS AG, STAMFORD BRANCH, as Issuing Bank (in such capacity, “Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, the Secured
Parties and Issuing Bank, and as a co-collateral agent (in such capacity, “UBS Collateral Agent”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral Agent” and
together with UBS Collateral Agent, in such capacities as co-collateral agents, the “Co-Collateral Agents”) and as a co-documentation agent (in such capacity, “DB Co-Documentation Agent” and together with UBS
Co-Documentation Agent, in such capacities as co-documentation agents, the “Co-Documentation Agents”). 
 The
undersigned is not (i) a bank (as such term is used in Section 881(c)(3)(A) of the Internal Revenue Code of 1986, as amended (the “Code”)), (ii) a “10 percent shareholder” of a Borrower within the meaning of
section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and no payments in connection with the Loan Documents are effectively connected with the undersigned’s
conduct of a U.S. trade or business. 
 The undersigned has furnished the Administrative Agent and the Borrowers (or, in the
case of a Participant, the Lender from which the Loan was purchased) with duly completed copies of its non-U.S. person status on Internal Revenue Service form W-8BEN (or any successor forms). 

  
 Q-1

 
			
	[NAME OF LENDER]
		
	By:	 	 
		 	Name:
		 	Title:
	
	[ADDRESS]

 Dated:
                    , 201    . 

  
 Q-2

 EXHIBIT R 
 [Form of] 
 BORROWING BASE CERTIFICATE 

[See Tab #36] 

  
 R-1

 EXECUTION 
 AMENDMENT NO. 1 
 TO 

AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT 
 This Amendment No. 1 to Amended and Restated Revolving Credit Agreement, dated as of January 20, 2012 (this “Amendment”), to the Amended and Restated Revolving Credit Agreement,
dated as of May 31, 2011 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among PBF Holding Company LLC, a Delaware limited liability company
(“Holdings”), Delaware City Refining Company LLC, a Delaware limited liability company (“Delaware City”), Paulsboro Refining Company LLC (f/k/a Valero Refining Company – New Jersey, a Delaware corporation), a
Delaware limited liability company (“Paulsboro”) and Toledo Refining Company LLC, a Delaware limited liability company (“Toledo” and together with Holdings, Delaware City and Paulsboro, “Borrowers”
and each individually, a “Borrower”), the Subsidiary Guarantors signatory hereto, the Lenders signatory hereto, UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, “Administrative Agent”) for the
Lenders, the Secured Parties and Issuing Bank and as a co-collateral agent (in such capacity, “UBS Collateral Agent”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as a co-collateral agent (in such capacity, “DB Collateral
Agent” and together with UBS Collateral Agent, in such capacities as co-collateral agents, the “Co-Collateral Agents”) 
 RECITALS 
 A. Borrowers, Administrative Agent and Lenders are desirous of making
specific amendments to the Credit Agreement, as and to the limited extent expressly set forth herein. 
 B. This Amendment shall
constitute a Loan Document and these Recitals shall be construed as part of this Amendment. 
 NOW THEREFORE, in consideration
of the premises and the mutual covenants hereinafter contained, and of the Loans and other extensions of credit heretofore, now or hereafter made to, or for the benefit of, Borrowers by the Lenders, Borrowers, Administrative Agent and Lenders hereby
agree as follows: 
 1. Definitions. Except to the extent otherwise specified herein, capitalized terms used in this
Amendment shall have the same meanings ascribed to them in the Credit Agreement. 

 2. Amendments. 

2.1. The definition of “High Yield Indebtedness” set forth in Section 1.01 (Defined Terms) of the Credit Agreement
is hereby amended by inserting the following immediately after the words “or another intercreditor agreement in form and substance reasonably satisfactory to the Administrative Agent” in clause (i) of such definition: 

“or, in the case of secured notes which do not have any Lien on any of the Revolving Credit Priority Collateral, either (A) such
secured notes are subject to a collateral access agreement in form and substance reasonably satisfactory to the Administrative Agent or (B) the Co-Collateral Agents have established Reserves in connection with the issuance of such secured
notes”; and 
 2.2. Section 5.19 (Release of Non-Revolving Credit Priority Collateral) of the Credit Agreement
is hereby amended by deleting the words “with the proceeds of equity issuances and/or unsecured debt” from such Section 5.19 and replacing them with the words “with the proceeds of equity issuances, unsecured debt and/or secured
notes which secured notes may be secured by Liens on property, plant, equipment and other assets of the Loan Parties other than any Revolving Credit Priority Collateral; provided, that in the event that any such secured notes are issued,
either (a) the Loan Parties and the holders of such secured notes shall have entered into a collateral access agreement with the Administrative Agent in respect of the Revolving Credit Priority Collateral in form and substance reasonably
satisfactory to the Administrative Agent or (b) the Co-Collateral Agents shall have established Reserves in connection therewith;”. 
 2.3. Section 6.02 (Liens) of the Credit Agreement is hereby amended by: 
 (a) deleting the word “and” immediately following clause (gg) of such Section 6.02 and inserting the following new clause (hh): “(hh) Liens securing the High Yield Indebtedness
provided that the requirements of clause (i) of the definition of “High Yield Indebtedness” have been satisfied; and”; 
 (b) converting the existing clause “(hh)” into clause “(ii)”; and 
 (c) deleting the words “other Liens not otherwise permitted in clauses (a) through (gg) above” from the existing clause (hh) and replacing them with the following: “other Liens not
otherwise permitted in clauses (a) through (hh) above”. 
 2.4. Clause (b) of Section 6.10 (Prepayments
of Other Indebtedness; Modifications of Organizational Documents and Other Documents etc.) of the Credit Agreement is hereby amended by: 
 (a) Inserting the following immediately after the words “shall not be subject to this clause (b)(iii))”: “provided, that any Seller Note Document may be terminated upon the repayment in
full of the Term Loan, the Valero Seller Notes and the Sunoco Seller Notes as contemplated by Section 5.19 of this Agreement”; and 
 (b) Inserting the following immediately after the words “set forth in the Revolver-Term Loan Intercreditor Agreement”: “provided, that any Term Loan Document may be terminated upon the
repayment in full of the Term Loan, the Valero Seller Notes and the Sunoco Seller Notes as contemplated by Section 5.19 of this Agreement”. 

  
 2 

 2.5. Section 6.11 (Limitation on Certain Restrictions on Subsidiary Guarantors)
of the Credit Agreement is hereby amended by deleting the word “or” immediately following clause (xix) of such Section 6.11 and inserting the following immediately after the existing clause (xx): “or (xxi) the indenture
and other operative documents for the High Yield Indebtedness”. 
 3. Representations and Warranties. Each Loan
Party hereby represents and warrants to Administrative Agent, the Co-Collateral Agents, the Issuing Bank and each of the Lenders that: 
 3.1. No Default or Event of Default exists under the Credit Agreement or any other Loan Document or will exist after or be triggered by the execution, delivery and performance of this Amendment.

 3.2. Each of the representations and warranties contained in the Credit Agreement are true and correct in all material
respects on and as of the date hereof as if made on the date hereof (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in all material
respects only as of such specified date). 
 4. Condition Precedent to Effectiveness. The effectiveness of the specific
amendments set forth in Section 2 hereof is subject to the satisfaction of the following condition precedent: 

4.1. Amendment. This Amendment shall have been duly executed and delivered by the Borrowers, each other Loan Party, Administrative
Agent and each of the Lenders. 
 5. Reference to and Effect Upon the Credit Agreement and other Loan Documents.

 5.1. Except for the specific amendments set forth in Section 2 above, the Credit Agreement and each other Loan
Document shall remain in full force and effect. 
 5.2. The execution, delivery and effect of this Amendment shall be limited as
written and shall not be deemed to be a consent to any waiver of any term or condition or any amendment or modification of any term or condition of the Credit Agreement (except for the specific amendments set forth in Section 2 above) or
any other Loan Document. 
 6. Acknowledgment and Consent of Loan Parties. Each Loan Party hereby consents to this
Amendment and hereby confirms and agrees that each Loan Document to which it is a party is, and shall continue to be, in full force and effect and each is hereby ratified and confirmed in all respects. 

  
 3 

 7. As contemplated in Section 5.19 (Release of Non-Revolving Credit Priority
Collateral) of the Credit Agreement, upon the repayment in full of the Term Loan, the Valero Seller Note and the Sunoco Seller Note in connection with the issuance of High Yield Indebtedness, the Agents will release all Collateral other than
Revolving Credit Priority Collateral and will take any additional steps as are reasonably necessary in connection with such release including, without limitation, the termination of any relevant Loan Documents. 

8. Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an
original but all such counterparts shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by telecopier or electronic “PDF” transmission shall be as effective as delivery of
a manually executed counterpart signature page to this Amendment. 
 9. Costs and Expenses. As provided in
Section 10.03 of the Credit Agreement, Borrowers shall pay the reasonable out-of-pocket expenses incurred by Administrative Agent in connection with the preparation, execution and delivery of this Amendment. 

10. GOVERNING LAW. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS (INCLUDING STATUTES OF
LIMITATION) OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 
 11. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 

[Signature Pages Follow] 

  
 4 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the date first written
above. 
  

			
	PBF HOLDING COMPANY LLC, as a Borrower
		
	By:	 	 

	Name:	 	Jeffrey Dill
	Title:	 	Secretary

  

			
	 DELAWARE CITY REFINING COMPANY
     LLC, as a Borrower

		
	By:	 	 

	Name:	 	Jeffrey Dill
	Title:	 	Secretary

  

			
	 PAULSBORO REFINING COMPANY LLC, as a
     Borrower

		
	By:	 	 

	Name:	 	Jeffrey Dill
	Title:	 	Secretary

  

			
	 TOLEDO REFINING COMPANY LLC, as a
     Borrower

		
	By:	 	 

	Name:	 	Jeffrey Dill
	Title:	 	Secretary

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

			
	 PBF POWER MARKETING, LLC, as a
    Subsidiary Guarantor

		
	By:	 	 

	Name:	 	Jeffrey Dill
	Title:	 	Secretary
	
	 DELAWARE PIPELINE COMPANY LLC, as a
    Subsidiary
Guarantor

		
	By:	 	 

	Name:	 	Jeffrey Dill
	Title:	 	Secretary
	
	 PAULSBORO NATURAL GAS PIPELINE
    COMPANY LLC, as a Subsidiary
Guarantor

		
	By:	 	 

	Name:	 	Jeffrey Dill
	Title:	 	Secretary
	
	 PBF INVESTMENTS LLC, as a Subsidiary
    Guarantor

		
	By:	 	 

	Name:	 	Jeffrey Dill
	Title:	 	Secretary
	
	 PBF FINANCE CORPORATION, as a Subsidiary
    Guarantor

		
	By:	 	 

	Name:	 	Jeffrey Dill
	Title:	 	Secretary

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

			
	 UBS AG, STAMFORD BRANCH, as
Administrative Agent and a Co-Collateral Agent

		
	By:	 	 

	Name:	 	Irja R. Otsa
	Title:	 	Associate Director
		
	By:	 	 

	Name:	 	Mary E. Evans
	Title:	 	Associate Director

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

			
	DEUTSCHE BANK TRUST COMPANY
AMERICAS, as a Co-Collateral Agent and a
Lender
		
	By:	 	 

	Name:	 	Marcus M. Tarkington
	Title:	 	Director
		
	By:	 	 

	Name:	 	Michael Getz
	Title:	 	Vice President

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

			
	Citibank, N.A, as a Lender
		
	By:	 	 

	Name:	 	Brendan Mackay
	Title:	 	Director

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

			
	 CREDIT SUISSE AG, CAYMAN ISLANDS
 BRANCH, as a Lender

 
					
			
		 	By:	 	 

		 	Name:	 	Mikhall Faybusovich
		 	Title:	 	Director
			
		 	By:	 	 

		 	Name:	 	Alex Verdone
		 	Title:	 	Associate

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

			
	MORGAN STANLEY BANK, N.A., as a Lender

 
					
			
		 	By:	 	 

		 	Name:	 	Dmitriy Barskiy
		 	Title:	 	Authorized Signatory

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

			
	 MORGAN STANLEY SENIOR FUNDING,
 INC., as a Lender

 
					
			
		 	By:	 	 

		 	Name:	 	Dmitriy Barskiy
		 	Title:	 	Vice President

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

			
	[Sovereign Bank], as a Lender

 
					
			
		 	By:	 	 

		 	Name:	 	Gregory Russano
		 	Title:	 	S.V.P.

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

  

			
	UBS LOAN FINANCE LLC, as a Lender

 
					
			
		 	By:	 	 

		 	Name:	 	Irja R. Otsa
		 	Title:	 	Associate Director
			
		 	By: 	 	 

		 	Name:	 	Mary E. Evans
		 	Title:	 	Associate Director

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement] 

  

			
	Wells Fargo Bank, NA, as a Lender

 
					
			
		 	By:	 	 

		 	Name:	 	Peter Aziz
		 	Title:	 	Relationship Manager

  
 [Signature
Page – Amendment No. 1 to PBF Amended and Restated Revolving Credit Agreement]Credit Agreement

 Exhibit 10.6 
 EXECUTION COPY 
  

 
  

 
 CREDIT AGREEMENT 
 dated as of 
 December 23, 2011 

among 

SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC, 
 as the Borrower 
 ON SEMICONDUCTOR CORPORATION, 

as Holdings 
 The
Lenders Party Hereto 
 JPMORGAN CHASE BANK, N.A. 
 as Administrative Agent, 
 and 

BANK OF AMERICA, N.A. and 
 THE ROYAL BANK OF SCOTLAND plc 
 as Co-Syndication Agents 

 
  

J.P. MORGAN SECURITIES LLC, 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED and 
 RBS SECURITIES
INC. 
 as Joint Bookrunners and Joint Lead Arrangers 

 
  

 

 TABLE OF CONTENTS 

 

					
	  	  	Page	 
		
	 ARTICLE I Definitions
	  	 	1	  
		
	 SECTION 1.01. Defined Terms
	  	 	1	  
	 SECTION 1.02. Classification of Loans and Borrowings
	  	 	26	  
	 SECTION 1.03. Terms Generally
	  	 	26	  
	 SECTION 1.04. Accounting Terms; GAAP; Treatment of Unrestricted Subsidiaries; Pro Forma Calculations
	  	 	26	  
	 SECTION 1.05. Status of Obligations
	  	 	27	  
		
	 ARTICLE II The Credits
	  	 	28	  
		
	 SECTION 2.01. Commitments
	  	 	28	  
	 SECTION 2.02. Loans and Borrowings
	  	 	28	  
	 SECTION 2.03. Requests for Revolving Borrowings
	  	 	29	  
	 SECTION 2.04. Determination of Dollar Amounts
	  	 	29	  
	 SECTION 2.05. Swingline Loans
	  	 	30	  
	 SECTION 2.06. Letters of Credit
	  	 	31	  
	 SECTION 2.07. Funding of Borrowings
	  	 	34	  
	 SECTION 2.08. Interest Elections
	  	 	35	  
	 SECTION 2.09. Termination and Reduction of Commitments
	  	 	36	  
	 SECTION 2.10. Repayment of Loans; Evidence of Debt
	  	 	37	  
	 SECTION 2.11. Prepayment of Loans
	  	 	38	  
	 SECTION 2.12. Fees
	  	 	38	  
	 SECTION 2.13. Interest
	  	 	39	  
	 SECTION 2.14. Alternate Rate of Interest
	  	 	40	  
	 SECTION 2.15. Increased Costs
	  	 	40	  
	 SECTION 2.16. Break Funding Payments
	  	 	42	  
	 SECTION 2.17. Taxes
	  	 	42	  
	 SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	  	 	45	  
	 SECTION 2.19. Mitigation Obligations; Replacement of Lenders
	  	 	47	  
	 SECTION 2.20. Expansion Option
	  	 	48	  
	 SECTION 2.21. Judgment Currency
	  	 	49	  
	 SECTION 2.22. Defaulting Lenders
	  	 	49	  
		
	 ARTICLE III Representations and Warranties
	  	 	51	  
		
	 SECTION 3.01. Organization; Powers; Subsidiaries
	  	 	51	  
	 SECTION 3.02. Authorization; Enforceability
	  	 	51	  
	 SECTION 3.03. Governmental Approvals; No Conflicts
	  	 	51	  
	 SECTION 3.04. Financial Condition; No Material Adverse Change
	  	 	52	  
	 SECTION 3.05. Properties
	  	 	52	  
	 SECTION 3.06. Litigation, Environmental and Labor Matters
	  	 	52	  
	 SECTION 3.07. Compliance with Laws and Agreements
	  	 	53	  
	 SECTION 3.08. Investment Company Status
	  	 	53	  
	 SECTION 3.09. Taxes
	  	 	53	  
	 SECTION 3.10. ERISA
	  	 	53	  
	 SECTION 3.11. Disclosure
	  	 	53	  

 TABLE OF CONTENTS 

(continued) 
  

					
	  	  	Page	 
		
	 SECTION 3.12. Federal Reserve Regulations
	  	 	54	  
	 SECTION 3.13. Liens
	  	 	54	  
	 SECTION 3.14. No Default
	  	 	54	  
	 SECTION 3.15. OFAC
	  	 	54	  
	 SECTION 3.16. FCPA
	  	 	54	  
		
	 ARTICLE IV Conditions
	  	 	54	  
		
	 SECTION 4.01. Effective Date
	  	 	54	  
	 SECTION 4.02. Each Credit Event
	  	 	55	  
		
	 ARTICLE V Affirmative Covenants
	  	 	56	  
		
	 SECTION 5.01. Financial Statements and Other Information
	  	 	56	  
	 SECTION 5.02. Notices of Material Events
	  	 	57	  
	 SECTION 5.03. Existence; Conduct of Business
	  	 	57	  
	 SECTION 5.04. Payment of Taxes
	  	 	58	  
	 SECTION 5.05. Maintenance of Properties; Insurance
	  	 	58	  
	 SECTION 5.06. Books and Records; Inspection Rights
	  	 	58	  
	 SECTION 5.07. Compliance with Laws
	  	 	58	  
	 SECTION 5.08. Use of Proceeds
	  	 	58	  
	 SECTION 5.09. Subsidiary Guaranty
	  	 	58	  
	 SECTION 5.10. Pledge Agreements
	  	 	59	  
		
	 ARTICLE VI Negative Covenants
	  	 	59	  
		
	 SECTION 6.01. Indebtedness
	  	 	60	  
	 SECTION 6.02. Liens
	  	 	61	  
	 SECTION 6.03. Fundamental Changes
	  	 	63	  
	 SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions
	  	 	64	  
	 SECTION 6.05. Asset Sales
	  	 	65	  
	 SECTION 6.06. Swap Agreements
	  	 	66	  
	 SECTION 6.07. Transactions with Affiliates
	  	 	66	  
	 SECTION 6.08. Restricted Payments
	  	 	67	  
	 SECTION 6.09. Restrictive Agreements
	  	 	67	  
	 SECTION 6.10. Subordinated Indebtedness and Amendments to Subordinated Indebtedness Documents
	  	 	68	  
	 SECTION 6.11. Sale and Leaseback Transactions
	  	 	68	  
	 SECTION 6.12. Financial Covenants
	  	 	69	  
	 SECTION 6.13. Designation of Subsidiaries
	  	 	69	  
		
	 ARTICLE VII Events of Default
	  	 	70	  
		
	 SECTION 7.01. Events of Default
	  	 	70	  
	 SECTION 7.02. Exclusion of Immaterial Subsidiaries
	  	 	72	  

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

					
	  	  	Page	 
		
	 ARTICLE VIII The Administrative Agent
	  	 	72	  
		
	 ARTICLE IX Miscellaneous
	  	 	76	  
		
	 SECTION 9.01. Notices
	  	 	76	  
	 SECTION 9.02. Waivers; Amendments
	  	 	77	  
	 SECTION 9.03. Expenses; Indemnity; Damage Waiver
	  	 	79	  
	 SECTION 9.04. Successors and Assigns
	  	 	80	  
	 SECTION 9.05. Survival
	  	 	83	  
	 SECTION 9.06. Counterparts; Integration; Effectiveness
	  	 	84	  
	 SECTION 9.07. Severability
	  	 	84	  
	 SECTION 9.08. Right of Setoff
	  	 	84	  
	 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process
	  	 	84	  
	 SECTION 9.10. WAIVER OF JURY TRIAL
	  	 	85	  
	 SECTION 9.11. Headings
	  	 	85	  
	 SECTION 9.12. Confidentiality
	  	 	85	  
	 SECTION 9.13. USA PATRIOT Act
	  	 	86	  
	 SECTION 9.14. Releases of Subsidiary Guarantors
	  	 	86	  
	 SECTION 9.15. Interest Rate Limitation
	  	 	86	  
	 SECTION 9.16. No Advisory or Fiduciary Responsibility
	  	 	87	  
		
	 ARTICLE X Guaranty
	  	 	87	  

  
 iii

 TABLE OF CONTENTS 
 SCHEDULES: 
  

	
	 Schedule 2.01 – Commitments

	 Schedule 2.02 – Mandatory Cost

 EXHIBITS: 
  

	
	 Exhibit A – Form of Assignment and Assumption

	 Exhibit B – Form of Opinion of Loan Parties’ Counsel

	 Exhibit C – Form of Increasing Lender Supplement

	 Exhibit D – Form of Augmenting Lender Supplement

	 Exhibit E – List of Closing Documents

	 Exhibit F – Form of Subsidiary Guaranty

	 Exhibit G-1 – Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Not Partnerships)

	 Exhibit G-2 – Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Partnerships)

	 Exhibit G-3 – Form of U.S. Tax Certificate (Non-U.S. Participants That Are Not Partnerships)

	 Exhibit G-4 – Form of U.S. Tax Certificate (Non-U.S. Participants That Are Partnerships)

	 Exhibit H – Form of Compliance Certificate

	 Exhibit I – Form of Borrowing Request

	 Exhibit J – Form of Interest Election Request

	 Exhibit K – Form of Promissory Note

  
 iv 

 CREDIT AGREEMENT (this “Agreement”) dated as of December 23, 2011
among SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC, ON SEMICONDUCTOR CORPORATION, the LENDERS from time to time party hereto, JPMORGAN CHASE BANK, N.A., as Administrative Agent, and BANK OF AMERICA, N.A. and THE ROYAL BANK OF SCOTLAND plc, as
Co-Syndication Agents. 
 The parties hereto agree as follows: 

ARTICLE I 

Definitions 
 SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 
 “ABR”, when used in reference to any Loan or Borrowing, refers to a Loan, or the Loans comprising such Borrowing, bearing interest at a rate determined by reference to the Alternate Base
Rate. 
 “Adjusted LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, an
interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the sum of (i) (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate plus, without duplication (ii) in the
case of Loans by a Lender from its office or branch in the United Kingdom or any Participating Member State, the Mandatory Cost. 
 “Administrative Agent” means JPMorgan Chase Bank, N.A. (including its branches and affiliates), in its capacity as administrative agent for the Lenders hereunder. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent.

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

“Aggregate Commitment” means the aggregate of the Commitments of all of the Lenders, as reduced or increased from time
to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Commitment is $325,000,000. 

“Agreed Currencies” means (i) Dollars, (ii) euro, (iii) Pounds Sterling, (iv) Japanese Yen and
(v) any other Foreign Currency that is (x) lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars, (y) available in the London interbank deposit market and
(z) requested by the Borrower and agreed to by the Administrative Agent and each of the Lenders. 

“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 for a
one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the rate appearing
on Reuters Screen LIBOR01 Page (or on any successor or substitute page of such page) at approximately 11:00 a.m. London 

 
time on such day. Any change in the Alternate Base Rate due to a change in the Prime Rate, 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, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

“Applicable Percentage” means, with respect to any Lender, the percentage of the Aggregate Commitment represented by
such Lender’s Commitment; provided that, in the case of Section 2.22 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the percentage of the Aggregate Commitment (disregarding any Defaulting
Lender’s Commitment) represented by such Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any
assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 
 “Applicable
Rate” means, for any day, with respect to any Eurocurrency Revolving Loan or any ABR Revolving Loan or with respect to the commitment fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the
caption “Eurocurrency Spread”, “ABR Spread” or “Commitment Fee Rate”, as the case may be, based upon the Total Leverage Ratio applicable on such date: 

 

															
	 	  	 Total Leverage Ratio:
	  	Eurocurrency
Spread	 	 	ABR
Spread	 	 	Commitment
Fee Rate	 
					
	 Category 1:
	  	< 1.75 to 1.00	  	 	1.50	% 	 	 	0.50	% 	 	 	0.30	% 
					
	 Category 2:
	  	3 1.75 to 1.00 but < 2.25 to 1.00	  	 	1.75	% 	 	 	0.75	% 	 	 	0.35	% 
					
	 Category 3:
	  	3 2.25 to 1.00 but < 2.75 to 1.00	  	 	2.00	% 	 	 	1.00	% 	 	 	0.40	% 
					
	 Category 4:
	  	3 2.75 to 1.00 but < 3.25 to 1.00	  	 	2.25	% 	 	 	1.25	% 	 	 	0.45	% 
					
	 Category 5:
	  	3 3.25 to 1.00	  	 	2.50	% 	 	 	1.50	% 	 	 	0.50	% 

 For purposes of the foregoing, 

(i) if at any time Holdings fails to deliver the Financials on or before the date the Financials are due pursuant to
Section 5.01, Category 5 shall be deemed applicable for the period commencing three (3) Business Days after the required date of delivery and ending on the date which is three (3) Business Days after the Financials are actually
delivered, after which the Category shall be determined in accordance with the table above as applicable; 
 (ii)
adjustments, if any, to the Category then in effect shall be effective three (3) Business Days after the Administrative Agent has received the applicable Financials (it being understood and agreed that each change in Category shall apply during
the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change); and 

  
 2 

 (iii) notwithstanding the foregoing, Category 2 shall be deemed to be
applicable until the Administrative Agent’s receipt of the applicable Financials for Holdings’ first fiscal quarter ending after the Effective Date (unless such Financials demonstrate that Category 3, 4 or 5 should have been applicable
during such period, in which case such other Category shall be deemed to be applicable during such period) and adjustments to the Category then in effect shall thereafter be effected in accordance with the preceding paragraphs. 

“Approved Fund” has the meaning assigned to such term in Section 9.04. 

“Assignment and Assumption” means an assignment and assumption agreement entered into by a Lender and an assignee (with
the consent of any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent and the Borrower. 

“Augmenting Lender” has the meaning assigned to such term in Section 2.20. 

“Available Revolving Commitment” means, at any time with respect to any Lender, the Commitment of such Lender then in
effect minus the Revolving Credit Exposure of such Lender at such time; it being understood and agreed that any Lender’s Swingline Exposure shall not be deemed to be a component of the Revolving Credit Exposure for purposes of calculating the
commitment fee under Section 2.12(a). 
 “Availability Period” means the period from and including the
Effective Date to but excluding the earlier of the Maturity Date and the date of termination of the Commitments. 

“Banking Services” means each and any of the following bank services provided to Holdings, the Borrower or any
Restricted Subsidiary by any Lender or any of its Affiliates: (a) credit cards for commercial customers (including, without limitation, commercial credit cards and purchasing cards), (b) stored value cards and (c) treasury management
services (including, without limitation, foreign exchange services, controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services). 

“Banking Services Agreement” means any agreement entered into by Holdings, the Borrower or any Restricted Subsidiary in
connection with Banking Services. 
 “Banking Services Obligations” means any and all obligations of Holdings,
the Borrower or any Restricted Subsidiary, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor) in connection
with Banking Services. 
 “Bankruptcy Event” means, with respect to any Person, such Person becomes the subject
of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it,
or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not
result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide
such Person 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 Person (or such 

  
 3 

 
Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 

“Bermuda IP Subsidiary” means ON Semiconductor Trading Ltd., a Bermuda corporation. 

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

“Borrower” means Semiconductor Components Industries, LLC, a Delaware limited liability company. 

“Borrowing” means (a) Revolving Loans of the same Type, made, converted or continued on the same date and, in the
case of Eurocurrency Loans, as to which a single Interest Period is in effect or (b) a Swingline Loan. 

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

 “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New
York City are authorized or required by law to remain closed; provided that, when used in connection with a Eurocurrency Loan or Borrowing, the term “Business Day” shall also exclude any day on which banks are not open for
dealings in the relevant Agreed Currency in the London interbank market or the principal financial center of such Agreed Currency (and, if the Borrowings or LC Disbursements which are the subject of a borrowing, drawing, payment, reimbursement or
rate selection are denominated in euro, the term “Business Day” shall also exclude any day on which the TARGET payment system is not open for the settlement of payments in euro). 

“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 lease obligations 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. 

“Change in Control” means (a) the acquisition of ownership, directly or indirectly, beneficially or of record, by
any Person other than Holdings of any Equity Interest in the Borrower; (b) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and
the rules of the SEC thereunder as in effect on the Effective Date), of Equity Interests representing more than 35% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of Holdings; or (c) occupation
of a majority of the seats (other than vacant seats) on the board of directors of Holdings by Persons who were neither (i) nominated by the board of directors of Holdings nor (ii) appointed or approved by directors so nominated.

 “Change in Law” means the occurrence, after the date of this Agreement (or with respect to any Lender, if
later, the date on which such Lender becomes a Lender), 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 or application thereof by any Governmental Authority, or (c) the making or issuance of any request, rules, guideline, requirement or directive (whether or not having the force of law) by any Governmental Authority;
provided however, that notwithstanding 

  
 4 

 
anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder, issued in
connection therewith or in implementation thereof, and (ii) all requests, rules, guidelines, requirements and 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, issued or implemented. 

“China JV” means Leshan Phoenix Semiconductor Co., Ltd., an entity existing under the laws of The People’s Republic
of China. 
 “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the
Loans comprising such Borrowing, are Revolving Loans or Swingline Loans. 
 “Code” means the Internal Revenue
Code of 1986. 
 “Commitment” means, with respect to each Lender, the commitment of such Lender to make
Revolving 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 terminated from time to time pursuant to Section 2.09, (b) increased from time to time pursuant to Section 2.20 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender
pursuant to Section 9.04. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the Assignment and Assumption or other documentation contemplated hereby pursuant to which such Lender shall have
assumed its Commitment, as applicable. 
 “Computation Date” is defined in Section 2.04. 

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however
denominated) or that are franchise Taxes. 
 “Consolidated EBITDA” means, with reference to any period of four
(4) consecutive fiscal quarters, Consolidated Net Income for such period plus 
 (a) without duplication and to the
extent deducted in determining such Consolidated Net Income, the sum of: 
 (i) Consolidated Interest Expense for
such period, 
 (ii) consolidated income tax expense for such period, 

(iii) all amounts attributable to depreciation and amortization for such period, 

(iv) all extraordinary charges during such period, 

(v) noncash expenses during such period resulting from the grant of stock options and restricted stock, restricted stock
units or other awards to management, directors, consultants or employees of Holdings, the Borrower or any of the Restricted Subsidiaries, 

  
 5 

 (vi) any non-recurring fees, expenses or premiums related to the redemption,
repayment or repurchase of any securities of Holdings or the Borrower, 
 (vii) cash restructuring expenses to
the extent expensed (A) during the period beginning on the Effective Date and continuing to, but not including, the third fiscal quarter of Borrower in 2014, in an aggregate amount not to exceed $125,000,000 and (B) thereafter, beginning
with the third fiscal quarter of Borrower in 2014, in an amount not to exceed $20,000,000 for such period, 

(viii) all other noncash expenses or losses of Holdings, the Borrower or any of the Restricted Subsidiaries for such
period (excluding any such expense or loss that constitutes an accrual of or a reserve for cash payments to be made in any future period), 
 (ix) any non-recurring fees, expenses or charges recognized by Holdings, the Borrower or any of the Restricted Subsidiaries for such period related to any offering of capital stock, incurrence of
Indebtedness or Permitted Acquisition, and minus 
 (b) without duplication and to the extent included in determining
such Consolidated Net Income, the sum of: 
 (i) any extraordinary gains for such period, 

(ii) all noncash items increasing Consolidated Net Income for such period (excluding any items that represent the reversal
of any accrual of, or cash reserve for, anticipated cash charges in any prior period) and 
 (iii) all gains
during such period attributable to any sale or disposition of assets (other than in the ordinary course of business), 
 all determined on a
consolidated basis in accordance with GAAP. For the purposes of calculating Consolidated EBITDA for any period of four consecutive fiscal quarters (each such period, a “Reference Period”), (i) if at any time during such
Reference Period Holdings, the Borrower or any Restricted Subsidiary shall have made any Material Disposition or converted any Restricted Subsidiary to an Unrestricted Subsidiary, the Consolidated EBITDA for such Reference Period shall be reduced by
an amount equal to the Consolidated EBITDA (if positive) attributable to the property that is the subject of such Material Disposition for such Reference Period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable
thereto for such Reference Period, and (ii) if during such Reference Period Holdings, the Borrower or any Restricted Subsidiary shall have made a Material Acquisition or converted any Unrestricted Subsidiary into a Restricted Subsidiary,
Consolidated EBITDA for such Reference Period shall be calculated after giving effect thereto on a pro forma basis as if such Material Acquisition occurred on the first day of such Reference Period. As used in this definition, “Material
Acquisition” means any acquisition of property or series of related acquisitions of property (other than transactions among Holdings, the Borrower or any Subsidiary and the Borrower or any other Subsidiary, including in connection with a
Permitted Tax Restructuring) that (a) constitutes (i) assets comprising all or substantially all or any significant portion of a business or operating unit of a business, or (ii) all or substantially all of the common stock or other
Equity Interests of a Person, and (b) involves the payment of consideration by Holdings, the Borrower and the Restricted Subsidiaries in excess of $25,000,000; and “Material Disposition” means any sale, transfer or disposition of
property or series of related sales, transfers, or dispositions of property (other than transactions among Holdings, the Borrower or any Subsidiary and the Borrower or any other Subsidiary, including in connection with a Permitted Tax

  
 6 

 
Restructuring) that yields gross proceeds to Holdings, the Borrower or any of the Restricted Subsidiaries in excess of $25,000,000. 

“Consolidated Interest Expense” means, with reference to any period, the interest expense (including without limitation
interest expense under Capital Lease Obligations that is treated as interest in accordance with GAAP) of Holdings, the Borrower and the Restricted Subsidiaries calculated on a consolidated basis for such period with respect to all outstanding
Indebtedness of Holdings, the Borrower and the Restricted Subsidiaries allocable to such period in accordance with GAAP (including, without limitation, net costs under interest rate Swap Agreements to the extent such net costs are allocable to such
period in accordance with GAAP). In the event that Holdings, the Borrower or any Restricted Subsidiary shall have completed a Material Acquisition or a Material Disposition since the beginning of the relevant period, Consolidated Interest Expense
shall be determined for such period on a pro forma basis as if such acquisition or disposition, and any related incurrence or repayment of Indebtedness, had occurred at the beginning of such period. 

“Consolidated Net Income” means, with reference to any period, the net income or loss of Holdings, the Borrower and the
Restricted Subsidiaries for such period determined on a consolidated basis in accordance with GAAP, provided that there shall be excluded from such net income or loss (a) the income of any Person (other than a consolidated Restricted
Subsidiary) in which any other Person (other than Holdings, the Borrower or any consolidated Restricted Subsidiary or any director holding qualifying shares in compliance with applicable law) owns an Equity Interest, except to the extent of the
amount of dividends or other distributions actually paid to the Borrower or any of the consolidated Restricted Subsidiaries by such Person during such period, and (b) the income or loss of any Person accrued prior to the date on which it
becomes a Restricted Subsidiary or is merged into or consolidated with the Borrower or any consolidated Restricted Subsidiary or the date on which such Person’s assets are acquired by the Borrower or any consolidated Restricted Subsidiary.

 “Consolidated Net Worth” means, as of the date of any determination thereof, the consolidated
stockholders’ equity of Holdings, the Borrower and the Restricted Subsidiaries calculated in accordance with GAAP on a consolidated basis as of such date. 
 “Consolidated Senior Indebtedness” means, as of the date of any determination thereof, Consolidated Total Indebtedness minus Subordinated Indebtedness of Holdings, the Borrower and
the Restricted Subsidiaries on such date. 
 “Consolidated Total Assets” means, as of the date of any
determination thereof, total assets of Holdings, the Borrower and the Restricted Subsidiaries calculated in accordance with GAAP on a consolidated basis as of such date. 
 “Consolidated Total Indebtedness” means, as of the date of any determination thereof, without duplication, the sum of (a) the aggregate Indebtedness of Holdings, the Borrower and the
Restricted Subsidiaries calculated on a consolidated basis as of such time in accordance with GAAP, (b) Indebtedness of the type referred to in clause (a) hereof of another Person guaranteed by Holdings, the Borrower or any of the
Restricted Subsidiaries and (c) the aggregate outstanding principal amount of Permitted Convertible Notes at such time. 

“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. The terms “Controlling” and “Controlled” have meanings correlative thereto. 

  
 7 

 “Co-Syndication Agents” means each of Bank of America, N.A. and The Royal
Bank of Scotland plc, in its capacity as co-syndication agent for the credit facility evidenced by this Agreement. 

“Credit Event” means a Borrowing, the issuance of a Letter of Credit, an LC Disbursement or any of the foregoing.

 “Credit Party” means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

 “Default” means any event or condition that constitutes an Event of Default or that upon notice, lapse of
time or both would, unless cured or waived, become an Event of Default. 
 “Defaulting Lender” means any Lender
that (a) has failed, within two (2) Business Days of the date required to be funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline Loans or
(iii) pay over to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such
Lender’s good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied, (b) has notified Holdings or any Credit Party in writing, or has made a
public statement to the effect, that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good faith
determination that a condition precedent (specifically identified and including the particular default, if any) to funding a loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit,
(c) has failed, within three (3) Business Days after written request by a Credit Party, acting in good faith, to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations to fund
prospective Loans and participations in then outstanding Letters of Credit and Swingline Loans under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s
receipt of such certification in form and substance reasonably satisfactory to it and the Administrative Agent, or (d) has become the subject of a Bankruptcy Event; 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. 
 “Designated IP Subsidiary” initially means the Bermuda IP Subsidiary and, thereafter,
any Restricted Subsidiary which is a successor in interest to the Bermuda IP Subsidiary or another Designated IP Subsidiary with respect to the rights owned by the Bermuda IP Subsidiary on the Effective Date, to exploit intellectual property in
foreign jurisdictions and such other intellectual property exploitation rights in foreign jurisdictions acquired by the Bermuda IP Subsidiary or such other Designated IP Subsidiary after the Effective Date, in each case, (i) to the extent such
exploitation rights are material to the business of Holdings, the Borrower and the Restricted Subsidiaries taken as a whole and (ii) for so long as such Restricted Subsidiary owns such rights. 

“Disclosed Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule
3.06 to the Disclosure Letter. 

  
 8 

 “Disclosure Letter” means the disclosure letter, dated as of the date
hereof, delivered by Borrower to the Administrative Agent for the benefit of the Lenders. 
 “Dollar Amount” of
any currency at any date shall mean (i) the amount of such currency if such currency is Dollars or (ii) the equivalent in such currency of Dollars if such currency is a Foreign Currency, calculated on the basis of the Exchange Rate for
such currency, on or as of the most recent Computation Date provided for in Section 2.04. 
 “Dollars” or
“$” refers to lawful money of the United States of America. 
 “Domestic Subsidiary” means a
Subsidiary organized under the laws of a jurisdiction located in the United States of America (other than a Subsidiary owned, directly or indirectly, by a Foreign Subsidiary). 
 “Effective Date” means the date on which the conditions specified in Section 4.01 are satisfied (or waived in accordance with Section 9.02). 

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions,
notices or binding agreements issued, promulgated or entered into by or with any Governmental Authority, relating in any way to the environment, preservation or restoration of natural resources, the management, Release or threatened Release of any
Hazardous Material or to health and safety matters. 
 “Environmental Liability” means any liability,
contingent or otherwise (including any liability for damages, costs of environmental remediation, administrative oversight costs, fines, penalties or indemnities), of Holdings, the Borrower or any Restricted 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 of the foregoing. 

“Equivalent Amount” of any currency with respect to any amount of Dollars at any date shall mean the equivalent in such
currency of such amount of Dollars, calculated on the basis of the Exchange Rate for such other currency at 11:00 a.m., London time, on the date on or as of which such amount is to be determined. 

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

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

  
 9 

 “ERISA Event” means (a) any Reportable Event; (b) the failure to
satisfy the “minimum funding standard” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an
application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan;
(e) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan under Section 4042 of ERISA;
(f) the incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any
notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in
reorganization, within the meaning of Title IV of ERISA. 
 “euro” and/or “EUR” means the
single currency of the Participating Member States. 
 “Eurocurrency”, when used in reference to a currency
means an Agreed Currency and when used in reference to any Loan or Borrowing, means that such Loan, or the Loans comprising such Borrowing, bears interest at a rate determined by reference to the Adjusted LIBO Rate. 

“Eurocurrency Payment Office” of the Administrative Agent shall mean, for each Foreign Currency, the office, branch,
affiliate or correspondent bank of the Administrative Agent for such currency as specified from time to time by the Administrative Agent to the Borrower and each Lender. 
 “Event of Default” has the meaning assigned to such term in Section 7.01. 
 “Exchange Rate” means, on any day, with respect to any Foreign Currency, the rate at which such Foreign Currency may be exchanged into Dollars, as set forth at approximately
11:00 a.m., Local Time, on such date on the Reuters World Currency Page for such Foreign Currency. In the event that such rate does not appear on any Reuters World Currency Page, the Exchange Rate with respect to such Foreign Currency shall be
determined by reference to such other publicly available service for displaying exchange rates as may be reasonably selected by the Administrative Agent or, in the event no such service is selected, such Exchange Rate shall instead be calculated on
the basis of the arithmetical mean of the buy and sell spot rates of exchange of the Administrative Agent for such Foreign Currency on the London market at 11:00 a.m., Local Time, on such date for the purchase of Dollars with such Foreign
Currency, for delivery two Business Days later; provided, that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent, after consultation with the Borrower, may use any reasonable
method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest error. 

“Excluded Taxes” means, with respect to any payment made by any Loan Party under any Loan Document, any of the following
Taxes imposed on or with respect to a Recipient: 
 (a) income or franchise taxes (however denominated) imposed on (or measured
by) net income or in lieu of net income taxes by the United States of America (or any political subdivision thereof), or by the jurisdiction under the laws of which such Recipient is organized or in which its principal office is located or, in the
case of any Lender, in which its applicable lending office is located or that are Other Connection Taxes; 

  
 10 

 (b) any branch profits Taxes imposed by the United States of America or any similar Taxes
imposed by any other jurisdiction in which the Borrower is located; 
 (c) in the case of a Non U.S. Lender (other than an
assignee pursuant to a request by the Borrower under Section 2.19(b)), any U.S. Federal withholding Taxes resulting from any law in effect on the date such Non U.S. Lender becomes a party to this Agreement (or designates a new lending
office), except to the extent that such Non U.S. Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding
Taxes pursuant to Section 2.17(a); 
 (d) any withholding tax imposed by the United States (or any political subdivision
thereof) by reason of a Lender or its assignee’s failure to comply with Section 2.17(f); and 
 (e) any U.S. Federal
withholding Taxes imposed under FATCA. 
 “Existing Letters of Credit” is defined in Section 2.06(a).

 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement, and any
regulations or official interpretations thereof, whether in existence on the date hereof or promulgated or published hereafter. 

“FCPA” means the United States Foreign Corrupt Practices Act of 1977, as amended. 

“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 Federal funds
brokers of recognized standing selected by it. 
 “Financial Officer” means a chief financial officer,
principal accounting officer, treasurer, corporate controller, Vice President, Corporate Analysis and Strategy, or such other officers as may be agreed among Holdings, the Borrower and the Administrative Agent from time to time. 

“Financials” means the annual or quarterly financial statements, and accompanying certificates and other documents, of
Holdings, the Borrower and the Subsidiaries required to be delivered pursuant to Section 5.01(a) or 5.01(b). 

“First Tier Foreign Subsidiary” means each Foreign Subsidiary with respect to which any one or more of Holdings, the
Borrower and the Domestic Subsidiaries directly owns more than 50% of such Foreign Subsidiary’s issued and outstanding Equity Interests; provided that, if Holdings, the Borrower or such Domestic Subsidiary ceases to own more than 50% of
such Foreign Subsidiary’s issued and outstanding Equity Interests solely as the result of a Permitted Tax Restructuring, such Foreign Subsidiary shall remain a “First Tier Foreign Subsidiary”. 

“Foreign Currencies” means Agreed Currencies other than Dollars. 

“Foreign Currency LC Exposure” means, at any time, the sum of (a) the Dollar Amount of the aggregate undrawn and
unexpired amount of all outstanding Foreign Currency Letters of Credit at 

  
 11 

 
such time plus (b) the aggregate principal Dollar Amount of all LC Disbursements in respect of Foreign Currency Letters of Credit that have not yet been reimbursed at such time. 

“Foreign Currency Letter of Credit” means a Letter of Credit denominated in a Foreign Currency. 

“Foreign Currency Sublimit” means $75,000,000. 
 “Foreign Holding Companies” means SCG (Malaysia SMP) Holding Corporation, SCG (Czech) Holding Corporation and SCG (China) Holding Corporation, each a Delaware corporation and such other
companies and joint ventures in respect of foreign operations as are created, entered into or acquired after the Effective Date and not in violation of this Agreement. 
 “Foreign Subsidiary” means any Subsidiary which is not a Domestic Subsidiary. 
 “GAAP” means generally accepted accounting principles in the United States of America. 
 “Governmental Authority” means the government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct
or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or
lease property, securities or services for the purpose of assuring the owner of such Indebtedness of the payment thereof, or (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary
obligor so as to enable the primary obligor to pay such Indebtedness, provided that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. 

“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 substances or wastes of any nature regulated pursuant to
any Environmental Law. 
 “Holdings” means ON Semiconductor Corporation, a Delaware corporation. 

“Increasing Lender” has the meaning assigned to such term in Section 2.20. 

“Incremental Term Loan” has the meaning assigned to such term in Section 2.20. 

“Incremental Term Loan Amendment” has the meaning assigned to such term in Section 2.20. 

“Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money,
(b) all obligations of such Person evidenced by bonds, debentures, notes or 

  
 12 

 
similar instruments, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other title
retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of property or services (excluding (i) accounts payable incurred in the ordinary course of
business and deferred compensation payable to directors, officers or employees of Holdings, the Borrower or any Subsidiary and (ii) unless the same are reflected as indebtedness or liabilities on the balance sheet of such Person, obligations
which are being contested in good faith by appropriate proceedings and for which adequate reserves have been set aside in accordance with GAAP), (f) 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, (g) all Guarantees by such Person of Indebtedness of others,
(h) all Capital Lease Obligations of such Person, (i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty and (j) all obligations, contingent or
otherwise, of such Person in respect of bankers’ acceptances. 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. Notwithstanding anything to the
contrary in this paragraph, the term “Indebtedness” shall not include (a) obligations under Swap Agreements, (b) agreements providing for indemnification, purchase price adjustments, earn-outs or similar obligations incurred or
assumed in connection with the acquisition or disposition of assets or stock or (c) obligations pursuant to Permitted Call Spread Swap Agreements or Permitted Convertible Notes. 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by
any Loan Party under any Loan Document and (b) Other Taxes. 
 “Information Memorandum” means the
Confidential Information Memorandum dated November 2011 relating to Holdings, the Borrower and the Transactions. 

“Interest Coverage Ratio” has the meaning assigned to such term in Section 6.12(b). 

“Interest Election Request” means a request by the Borrower to convert or continue a Revolving Borrowing in accordance
with Section 2.08. 
 “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 and the Maturity Date, (b) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the
case of a Eurocurrency Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest
Period and the Maturity Date and (c) with respect to any Swingline Loan, the day that such Loan is required to be repaid and the Maturity Date. 
 “Interest Period” means with respect to any Eurocurrency Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar
month that is one, two, three or six months thereafter, as the Borrower may elect; provided, that (i) 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, in the case of a Eurocurrency Borrowing only, 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 (ii) any Interest
Period pertaining to a Eurocurrency Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is 

  
 13 

 
no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof,
the date of a Borrowing initially shall be the date on which such Borrowing is made and, in the case of a Revolving Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 

“IRS” means the United States Internal Revenue Service. 

“Issuing Bank” means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its
successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall
include any such Affiliate with respect to Letters of Credit issued by such Affiliate. 
 “Japanese Yen” means
the lawful currency of Japan. 
 “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 Dollar Amount
of all outstanding Letters of Credit at such time plus (b) the aggregate Dollar Amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender at any time shall be
its Applicable Percentage of the total LC Exposure at such time. 
 “Lenders” means the Persons listed on
Schedule 2.01 and any other Person that shall have become a Lender hereunder pursuant to Section 2.20 or pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment
and Assumption. Unless the context otherwise requires, the term “Lenders” includes the Swingline Lender. 

“Letter of Credit” means any letter of credit issued pursuant to this Agreement. 

“LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, the rate appearing on, in the
case of Dollars, Reuters Screen LIBOR01 Page and, in the case of any Foreign Currency, the appropriate page of such service which displays British Bankers Association Interest Settlement Rates for deposits in such Foreign Currency (or, in each case,
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 deposits in the relevant Agreed Currency in the London interbank market) at approximately 11:00 a.m., London time, two (2) Business Days prior to (or, in the
case of Loans denominated in Pounds Sterling, on the day of) the commencement of such Interest Period, as the rate for deposits in the relevant Agreed Currency 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 Eurocurrency Borrowing for such Interest Period shall be the rate at which deposits in the relevant Agreed Currency in an Equivalent Amount of
$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 (or, in the case of Loans denominated in Pounds Sterling, on the day of) the commencement of such Interest Period. 

  
 14 

 “Lien” means, with respect to any asset, (a) any mortgage, deed of
trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing
lease, that is not an operating lease, having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to
such securities. 
 “Loan Documents” means this Agreement, any promissory notes issued pursuant to
Section 2.10(e) of this Agreement, any Letter of Credit applications, the Subsidiary Guaranty and the Pledge Agreements. Any reference in this Agreement or any other Loan Document to a Loan Document shall include all appendices, exhibits or
schedules thereto, and all amendments, restatements, supplements or other modifications thereto, and shall refer to this Agreement or such Loan Document as the same may be in effect at any and all times such reference becomes operative. 

“Loan Parties” means, collectively, Holdings, the Borrower and the Subsidiary Guarantors. 

“Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. 

“Local Time” means (i) New York City time in the case of a Loan, Borrowing or LC Disbursement denominated in
Dollars and (ii) local time in the case of a Loan, Borrowing or LC Disbursement denominated in a Foreign Currency (it being understood that such local time shall mean London, England time unless otherwise notified by the Administrative Agent).

 “Mandatory Cost” is described in Schedule 2.02. 

“Material Acquisition” is defined in the definition of Consolidated EBITDA. 

“Material Adverse Effect” means a material adverse effect on (a) the business, assets, operations or condition
(financial or otherwise) of Holdings, the Borrower and the Restricted Subsidiaries taken as a whole or (b) the validity or enforceability of this Agreement or any and all other Loan Documents or the material rights or remedies of the
Administrative Agent and the Lenders thereunder. 
 “Material Disposition” is defined in the definition of
Consolidated EBITDA. 
 “Material Domestic Subsidiary” means each Domestic Subsidiary (other than any
Unrestricted Subsidiary) which, as of the end of the most recent fiscal year of Holdings for which financial statements have been delivered pursuant to Section 5.01(a) (or, if prior to the date of the delivery of the first financial statements
to be delivered pursuant to Section 5.01(a), the most recent financial statements referred to in Section 3.04(a)(ii)), contributed greater than five percent (5%) of Consolidated Total Assets as of such date; provided that, if
at any time the aggregate amount of Consolidated Total Assets attributable to all Domestic Subsidiaries (other than Unrestricted Subsidiaries) that are not Material Domestic Subsidiaries exceeds ten percent (10%) of Consolidated Total Assets as
of the end of any such fiscal year, Holdings (or, in the event Holdings has failed to do so within thirty (30) days, the Administrative Agent) shall designate sufficient Domestic Subsidiaries (other than Unrestricted Subsidiaries) as
“Material Domestic Subsidiaries” to eliminate such excess, and such designated Subsidiaries shall for all purposes of this Agreement constitute Material Domestic Subsidiaries. 

  
 15 

 “Material Foreign Subsidiary” means each Foreign Subsidiary which, as of
the most recent fiscal year of Holdings for which financial statements have been delivered pursuant to Section 5.01(a) (or, if prior to the date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a),
the most recent financial statements referred to in Section 3.04(a)(ii)), contributed greater than five percent (5%) of Consolidated Total Assets as of such date. 
 “Material Indebtedness” means Indebtedness (other than the Loans and Letters of Credit), or obligations in respect of one or more Swap Agreements, of any one or more of Holdings, the
Borrower and the Restricted Subsidiaries in an aggregate principal amount exceeding $50,000,000. For purposes of determining Material Indebtedness, the “principal amount” of the obligations of Holdings, the Borrower or any Restricted
Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that Holdings, the Borrower or such Restricted Subsidiary would be required to pay if such Swap Agreement were
terminated at such time. 
 “Maturity Date” means December 23, 2016. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Non-U.S. Lender” means a Lender that is not a U.S. Person. 

“Obligations” means all unpaid principal of and accrued and unpaid interest on the Loans, all LC Exposure, all accrued
and unpaid fees and all expenses, reimbursements, indemnities and other obligations and indebtedness (including interest and fees accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of
whether allowed or allowable in such proceeding), obligations and liabilities of any of Holdings, the Borrower and the Restricted Subsidiaries to any of the Lenders, the Administrative Agent, the Issuing Bank or any indemnified party, individually
or collectively, existing on the Effective Date or incurred or arising thereafter, direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured, arising by contract, operation
of law or otherwise, under this Agreement or any of the other Loan Documents or to the Lenders or any of their Affiliates under any Swap Agreement or any Banking Services Agreement. 

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 

“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 Taxes (other than a connection arising from such Recipient having executed, delivered, enforced, become a party to, performed its obligations under, received payments under,
received or perfected a security interest under, or engaged in any other transaction pursuant to, or enforced, any Loan Document, or sold or assigned an interest in any Loan Document). 

“Other Taxes” means any present or future stamp, court, documentary, intangible, recording, filing or similar excise or
property Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, or from the registration, receipt or perfection of a security interest under, or otherwise with respect to, any Loan
Document, except any such 

  
 16 

 
Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment under Section 2.19(b)). 

“Overnight Foreign Currency Rate” means, for any amount payable in a Foreign Currency, the rate of interest per annum as
determined by the Administrative Agent at which overnight or weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three (3) Business Days, then for such other period of time as the Administrative Agent
may elect) for delivery in immediately available and freely transferable funds would be offered by the Administrative Agent to major banks in the interbank market upon request of such major banks for the relevant currency as determined above and in
an amount comparable to the unpaid principal amount of the related Credit Event, plus any taxes, levies, imposts, duties, deductions, charges or withholdings imposed upon, or charged to, the Administrative Agent by any relevant correspondent bank in
respect of such amount in such relevant currency. 
 “Parent” means, with respect to any Lender, any Person as
to which such Lender is, directly or indirectly, a subsidiary. 
 “Participant” has the meaning assigned to
such term in Section 9.04(c). 
 “Participant Register” has the meaning assigned to such term in
Section 9.04(c). 
 “Participating Member State” means any member state of the European Union that adopts
or has adopted the euro as its lawful currency in accordance with legislation of the European Union relating to economic and monetary union. 
 “Patriot Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended. 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity
performing similar functions. 
 “Permitted Acquisition” means any acquisition (whether by purchase, merger,
consolidation or otherwise) or a series of related Acquisitions by the Borrower or any consolidated Restricted Subsidiary of all or substantially all the assets of, or all or substantially all of the Equity Interests in, a Person or division or line
of business of a Person if, at the time of and immediately after giving effect thereto, (a) no Default has occurred and is continuing or would result therefrom, (b) the principal business of such Person shall be reasonably related to a
business in which the Borrower or any of the Restricted Subsidiaries were engaged on the Effective Date, (c) Holdings and the Borrower shall be in compliance (on a pro forma basis) with the covenants contained in Section 6.12 and
(d) if such acquisition constitutes a Material Acquisition, a Financial Officer of Holdings has delivered to the Administrative Agent a certificate to the effect set forth in clause (c) above, it being understood and agreed that the
calculations set forth in such certificate shall be calculated in accordance with Section 1.04(b) hereof. 

“Permitted Call Spread Swap Agreements” means (a) a Swap Agreement pursuant to which Holdings or the Borrower
acquires a call option requiring the counterparty thereto to deliver to Holdings or the Borrower, as the case may be, shares or units of Equity Interests of Holdings or the Borrower, as the case may be, the cash value of such Equity Interests or a
combination thereof from time to time upon exercise of such option and (b) a Swap Agreement pursuant to which Holdings or the Borrower issues to the counterparty thereto warrants to acquire shares or units of Equity Interests of

  
 17 

 
Holdings or the Borrower, as the case may be, in each case entered into by Holdings or the Borrower, as the case may be, with respect to Permitted Convertible Notes; provided that
(i) the terms, conditions and covenants of each such Swap Agreement shall be such as are typical and customary for Swap Agreements of such type (as determined by the board of directors (including an authorized committee thereof) of Holdings for
Holdings or as the sole member of the Borrower, as the case may be, in good faith) and (ii) in the case of clause (b) above, such Swap Agreement would be classified as an equity instrument in accordance with EITF 00-19, Accounting for
Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock, or any successor thereto (including pursuant to the Accounting Standards Codification), and the settlement of such Swap Agreement does not
require Holdings or the Borrower to make any payment in cash or cash equivalents that would disqualify such Swap Agreement from so being classified as an equity instrument. 
 “Permitted Convertible Notes” means any unsecured notes issued by Holdings or the Borrower that are convertible into shares or units of Equity Interests of Holdings or the Borrower,
respectively, or cash or any combination of cash and Equity Interests, and the Indebtedness thereunder is Subordinated Indebtedness; provided that Permitted Convertible Notes may only be issued after the Effective Date so long as
(i) both immediately prior to and after giving effect (including on a pro forma basis) thereto, no Default or Event of Default shall exist or would result therefrom, (ii) such Permitted Convertible Notes mature after, and do not require
any scheduled amortization or other scheduled payments of principal prior to, the date that is 181 days after the Maturity Date (it being understood that neither (x) any provision requiring an offer to purchase or a right to call such Permitted
Convertible Notes at, as of, or after, a designated date or otherwise as a result of change of control, asset sale, other fundamental change or other event nor (y) any early conversion of such Permitted Convertible Notes in accordance with the
terms thereof shall violate the foregoing restriction), (iii) such Permitted Convertible Notes are not guaranteed by any Subsidiary other than the Subsidiary Guarantors (which guarantees shall be expressly subordinated to the Obligations on
terms not less favorable to the Lenders than the subordination terms of any other Subordinated Indebtedness), (iv) the covenants applicable to such Permitted Convertible Notes are not more onerous or more restrictive in any material respect
(taken as a whole) than the applicable covenants set forth in this Agreement (as determined by the board of directors (including an authorized committee thereof) of Holdings for Holdings or as the sole member of the Borrower, as the case may be, in
good faith) and (v) both immediately prior to and after giving effect (including on a pro forma basis) thereto, Holdings and the Borrower are in compliance with Section 6.12. 

“Permitted Encumbrances” means: 
 (a) Liens imposed by law for taxes or other governmental charges that are not yet due or are being contested in compliance with Section 5.04; 

(b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law,
arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in the same manner as Tax liability contests under Section 5.04; 

(c) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance
and other social security laws or regulations; 
 (d) Liens and deposits to secure the performance of bids, trade contracts,
leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; 

  
 18 

 (e) judgment liens in respect of judgments that do not constitute an Event of Default under
clause (k) of Section 7.01; 
 (f) easements, zoning restrictions, rights-of-way and similar encumbrances on real
property imposed by law or arising in the ordinary course of business and minor defects or irregularities in title that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with
the ordinary conduct of business of the Borrower or any Restricted Subsidiary; 
 (g) ground leases in respect of real property
on which facilities owned or leased by the Borrower or any of the Restricted Subsidiaries are located; 
 (h) application
specific integrated circuit (ASIC) contracts entered into in the ordinary course of business consistent with past practice; 

(i) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with
the importation of goods; 
 (j) customary restrictions or conditions imposed by a foreign government or any political
subdivision of any foreign government or any public instrumentality thereof in connection with the transfer or disposition of assets; 
 (k) leases or subleases, or licenses or sublicenses, granted to other Persons and not interfering in any material respect with the business of Holdings, the Borrower and the Restricted Subsidiaries, taken
as a whole; 
 (l) banker’s liens, rights of setoff or similar rights and remedies as to deposit accounts or other funds
maintained with depository institutions; provided that such deposit accounts or funds are not established or deposited for the purpose of providing collateral for any Indebtedness and are not subject to restrictions on access by Holdings, the
Borrower or any Restricted Subsidiary in excess of those required by applicable banking regulations. 
 (m) customary Liens on
property of Holdings, the Borrower or any Restricted Subsidiary sold to another Person pursuant to a conditional sales agreement where Holdings, the Borrower or such Restricted Subsidiary retains title; 

(n) Liens on cash or cash equivalents (in an aggregate amount not to exceed $10,000,000) deposited in margin accounts with or on behalf
of futures contract brokers or paid over to other contract counterparties or pledged or deposited as collateral to a contract counterparty to secure obligations with respect to Swap Agreements; 

(o) Liens granted on cash or cash equivalents constituting proceeds from any sale or disposition of assets that is not prohibited by
Section 6.05 deposited in escrow accounts or otherwise withheld or set aside to secure obligations of Holdings, the Borrower or any Restricted Subsidiary providing for indemnification, adjustment of purchase price or any similar obligations, in
each case, in an amount not to exceed the amount of gross proceeds received by Holdings, the Borrower or any Restricted Subsidiary in connection with such sale or disposition; 
 (p) rights of lessees arising under leases entered into by Holdings, the Borrower or any Restricted Subsidiary as lessor, in the ordinary course of business; 

  
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 (q) any Liens on or reservations with respect to governmental and other licenses, permits,
franchises, consents and allowances; 
 (r) Liens solely on any cash earnest money deposits made by Holdings, the Borrower or
any Restricted Subsidiary in connection with any letter of intent or purchase agreement permitted hereunder; and 
 (s) Liens
granted on cash or cash equivalents (or other investments of the same) to defease Indebtedness of Holdings, the Borrower or any Restricted Subsidiary to the extent not prohibited under this Agreement; 

provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness. 

“Permitted Investments” means: 
 (a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America (or any agency thereof to the extent such obligations are
backed by the full faith and credit of the United States of America), in each case maturing within three years from the date of acquisition thereof; 
 (b) marketable direct obligations issued by any state of the United States or any political subdivision of any such state or any public instrumentality thereof maturing within three years from the date of
acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either S&P or Moody’s; 
 (c) senior corporate debt obligations of an issuer organized under the laws of the United States or any state thereof that are rated BBB or better by S&P or Baa2 or better by Moody’s that mature
not more than three years after the date of acquisition thereof and that are actively traded in a secondary market, provided that obligations described in this clause (c) that are rated BBB by S&P or Baa2 by Moody’s shall not at any
time comprise more than 10% of all Permitted Investments held by Holdings, the Borrower and the Subsidiaries; 
 (d) investments
in commercial paper maturing within one year after the date of acquisition thereof and having, at such date of acquisition, a credit rating of at least A-1 (or the equivalent thereof) from S&P or at least P-1 (or the equivalent thereof) from
Moody’s; 
 (e) investments in certificates of deposit, banker’s acceptances and demand or time deposits, in each case
maturing not more than one year from the date of acquisition thereof, issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws of the United
States of America or any State thereof that has a combined capital and surplus and undivided profits of not less than $250,000,000; 
 (f) fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and entered into with a financial institution satisfying the criteria
described in clause (c) above; 
 (g) money market funds that (i) comply with the criteria set forth in Rule 2a-7
under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000,000,000; 

  
 20 

 (h) securities issued by any foreign government or any political subdivision of any foreign
government or any public instrumentality thereof having maturities of not more than six months from the date of acquisition thereof and, at the time of acquisition, having one of the two highest credit ratings obtainable from S&P or from
Moody’s; 
 (i) in the case of any Foreign Subsidiary, other short-term investments that are analogous to the foregoing,
are of comparable credit quality and are customarily used by companies in the jurisdiction of such Foreign Subsidiary for cash management purposes; and 
 (j) investments in funds that invest solely in one or more types of securities described in clauses (a), (b) and (h) above. 

“Permitted Tax Restructurings” means a transaction or series of transactions pursuant to which direct and indirect
Subsidiaries of Holdings and Borrower are converted, restructured or reorganized for tax planning, whether by (i) transfer, (ii) acquisition, (iii) contribution, (iv) merger, (v) consolidation, (v) voluntary
dissolution, (vi) liquidation, (vii) recapitalization, (viii) change in identity, form, or place of organization, or (ix) otherwise, in each case the result of which may cause a direct or indirect sale, assignment or transfer of
Equity Interests and/or other assets between and among Holdings, Borrower and/or various Subsidiaries of Holdings and Borrower; provided that no such Permitted Tax Restructuring(s) shall be effected if the Borrower reasonably determines in
good faith that the Permitted Tax Restructuring taken as a whole would be materially disadvantageous to the Lenders; provided further that the Borrower may not make such a determination if such Permitted Tax Restructuring would
(i) convert a Designated IP Subsidiary to an Unrestricted Subsidiary, (ii) cause a material portion of the assets and properties material to the business of Holdings, Borrower and the Restricted Subsidiaries taken as a whole to be owned by
an Unrestricted Subsidiary (other than as permitted by Sections 6.04 and 6.05), or (iii) result in any Designated IP Subsidiary permitting to exist any Indebtedness for borrowed money. 

“Permitted Unsecured Indebtedness” means unsecured Indebtedness of Holdings or the Borrower (including unsecured
Subordinated Indebtedness to the extent subordinated to the Obligations on terms reasonably acceptable to the Administrative Agent), to the extent not otherwise permitted under Section 6.01, and any Indebtedness constituting refinancings,
renewals or replacements of any such Indebtedness; provided that (i) both immediately prior to and after giving effect (including pro forma effect) thereto, no Default or Event of Default shall exist or would result therefrom,
(ii) such Indebtedness matures after, and does not require any scheduled amortization or other scheduled payments of principal prior to, the date that is 181 days after the Maturity Date (it being understood that any provision requiring an
offer to purchase such Indebtedness as a result of change of control or asset sale shall not violate the foregoing restriction), (iii) such Indebtedness is not Guaranteed by any Restricted Subsidiary of Holdings other than the Subsidiary
Guarantors (which Guarantees, if such Indebtedness is subordinated, shall be expressly subordinated to the Obligations on terms not less favorable to the Lenders than the subordination terms of such Subordinated Indebtedness), (iv) the
covenants applicable to such Indebtedness are not more onerous or more restrictive in any material respect (taken as a whole) than the applicable covenants set forth in this Agreement (as determined by the board of directors (including an authorized
committee thereof) of Holdings for Holdings or as the sole member of the Borrower, as the case may be, in good faith) and (v) at the time of the incurrence of such Indebtedness and immediately after giving effect thereto (including pro forma
effect), the Senior Leverage Ratio is less than 2.75 to 1.00. 
 “Person” means any natural person,
corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 

  
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 “Plan” means any employee pension benefit plan (other than a Multiemployer
Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is an “employer” as defined in Section 3(5) of ERISA.

 “Pledge Agreements” means any pledge agreements, share mortgages, charges and comparable instruments and
documents from time to time executed pursuant to the terms of Section 5.10 in favor of the Administrative Agent for the benefit of the Secured Parties as amended, restated, supplemented or otherwise modified from time to time. 

“Pledge Subsidiary” means (i) the Borrower, (ii) each Domestic Subsidiary and (iii) each First Tier
Foreign Subsidiary which is a Material Foreign Subsidiary. 
 “Pledged Equity” means all pledged Equity
Interests in or upon which a security interest or Lien is from time to time granted to the Administrative Agent, for the benefit of the Secured Parties, under the Pledge Agreements. 

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

“Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as
its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

“Qualifying Subsidiary” means any Restricted Subsidiary (other than a Material Domestic Subsidiary) that has Guaranteed
any Permitted Convertible Notes or Permitted Unsecured Indebtedness. 
 “Recipient” means, as applicable,
(a) the Administrative Agent, (b) any Lender and (c) the Issuing Bank. 
 “Register” has the
meaning set forth in Section 9.04. 
 “Related Parties” means, with respect to any specified Person, such
Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 
 “Release” means any release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into the environment (including ambient
air, surface water, groundwater, land surface or subsurface strata) or within any building, structure, facility or fixture. 

“Reportable Event” means any reportable event, as defined in Section 4043 of ERISA or the regulations issued
thereunder, with respect to a Plan, other than events for which the 30-day notice period is waived under the final regulations issued under Section 4043, as in effect as of the date of this Agreement (the “Section 4043 Regulations”).
Any changes made to the Section 4043 Regulations that become effective after the Effective Date shall have no impact on the definition of Reportable Event as used herein unless otherwise amended by the Borrower and the Administrative Agent.

  
 22 

 “Required Lenders” means, at any time, Lenders having Revolving Credit
Exposures and unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and unused Commitments at such time. 
 “Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests (including Indebtedness convertible into
Equity Interests) in Holdings, the Borrower or any Restricted Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such Equity Interests in Holdings, the Borrower or any Restricted Subsidiary or any option, warrant or other right to acquire any such Equity Interests in Holdings, the Borrower or any Restricted Subsidiary.
Notwithstanding the foregoing, and for the avoidance of doubt, (i) the conversion of (including any cash payment upon conversion), or payment of any principal or premium on, or payment of any interest with respect to, any Permitted Convertible
Notes shall constitute a Restricted Payment, (ii) any payment with respect to, or early unwind or settlement of, any Permitted Call Spread Swap Agreement shall not constitute a Restricted Payment, and (iii) any issuance of securities, or
other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment arrangements, stock options and stock ownership or other employee benefit plans or programs approved by the board of directors of Holdings
(including an authorized committee thereof) shall not constitute a Restricted Payment. 
 “Restricted
Subsidiary” means any Subsidiary that is not an Unrestricted Subsidiary. 
 “Revolving Credit
Exposure” means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time. 

“Revolving Loan” means a Loan made pursuant to Section 2.02. 

“S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services
LLC business. 
 “SEC” means the United States Securities and Exchange Commission. 

“Secured Parties” means the holders of the Obligations from time to time and shall include (i) each Lender and the
Issuing Bank in respect of its Loans and LC Exposure respectively, (ii) the Administrative Agent, the Issuing Bank and the Lenders in respect of all other present and future obligations and liabilities of Holdings, the Borrower and each
Restricted Subsidiary of every type and description arising under or in connection with this Agreement or any other Loan Document, (iii) each Lender and affiliate of such Lender in respect of Swap Agreements and Banking Services Agreements
entered into with such Person by Holdings, the Borrower or any Restricted Subsidiary, (iv) each indemnified party under Section 9.03 in respect of the obligations and liabilities of Holdings or the Borrower to such Person hereunder and
under the other Loan Documents, and (v) their respective successors and (in the case of a Lender, permitted) transferees and assigns. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Senior Leverage Ratio” means the ratio, determined as of the end of each of Holdings’ fiscal quarters ending on
and after December 31, 2011, of (i) Consolidated Senior Indebtedness to (ii) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending with the end of

  
 23 

 
such fiscal quarter, all calculated for Holdings, the Borrower and the Restricted Subsidiaries on a consolidated basis. 
 “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, liquid asset, fees or similar requirements (including any marginal, special, emergency or supplemental reserves or other requirements) established by any central bank, monetary authority, the Board, the Financial Services Authority,
the European Central Bank or other Governmental Authority for any category of deposits or liabilities customarily used to fund loans in the applicable currency, expressed in the case of each such requirement as a decimal. Such reserve, liquid asset,
fees or similar requirements shall, in the case of Dollar denominated Loans, include those imposed pursuant to Regulation D of the Board. Eurocurrency Loans shall be deemed to be subject to such reserve, liquid asset, fee or similar
requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under any applicable law, rule or regulation, including Regulation D of the Board. The Statutory Reserve Rate
shall be adjusted automatically on and as of the effective date of any change in any reserve, liquid asset or similar requirement. 
 “Subordinated Indebtedness” means any Indebtedness of Holdings, the Borrower or any Restricted Subsidiary the payment of which is subordinated to payment of the obligations under the Loan
Documents. 
 “Subordinated Indebtedness Documents” means any document, agreement or instrument evidencing any
Subordinated Indebtedness or entered into in connection with any Subordinated Indebtedness. 
 “subsidiary”
means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the
parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity of which
securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned,
Controlled or held. 
 “Subsidiary” means any subsidiary of Holdings other than the Borrower. Without limiting
the generality of the definition of the term “subsidiary”, it is understood and agreed that each of (a) ON Semiconductor Czech Republic, s.r.o., legal successor, a corporation existing under the laws of the Czech Republic, (b) ON
Semiconductor Slovakia a.s. (formerly known as Slovakia Electronic Industries, a.s.), a corporation existing under the laws of Slovakia and (c) Leshan-Phoenix Semiconductor Co., Ltd., an entity existing under the laws of the People’s
Republic of China, is a subsidiary of Holdings as of the Effective Date. 
 “Subsidiary Guarantor” means each
(i) Material Domestic Subsidiary and (ii) Qualifying Subsidiary, in each case that is a party to the Subsidiary Guaranty and has not been released. The Subsidiary Guarantors on the Effective Date are identified as such in
Schedule 3.01 to the Disclosure Letter. 

  
 24 

 “Subsidiary Guaranty” means that certain Guaranty dated as of the Effective
Date in the form of Exhibit F (including any and all supplements thereto) and executed by each Subsidiary Guarantor, as amended, restated, supplemented or otherwise modified from time to time. 

“Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or
similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or
interest rate, commodities and foreign currency exchange protection agreements or any similar transaction or any combination of these transactions; provided that no option, phantom stock or similar security providing for payments only on
account of services provided by or issued under a plan for current or former directors, officers, employees or consultants of Holdings or the Restricted Subsidiaries shall be a Swap Agreement. 

“Swap Obligations” means any and all obligations of Holdings, the Borrower or any Restricted Subsidiary, whether
absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any and all Swap Agreements permitted hereunder
with a Lender or an Affiliate of a Lender, and (b) any and all cancellations, buy backs, reversals, terminations or assignments of any such Swap Agreement transaction. 
 “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 JPMorgan Chase
Bank, N.A., in its capacity as lender of Swingline Loans hereunder. 
 “Swingline Loan” means a Loan made
pursuant to Section 2.05. 
 “TARGET” means 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) reasonably determined by the Administrative Agent to be a suitable replacement) for the settlement of payments in euro.

 “Taxes” means any present or future taxes, levies, imposts, duties, deductions, withholdings, assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 
 “Total Leverage Ratio” has the meaning assigned to such term in Section 6.12(a). 
 “Transactions” means the execution, delivery and performance by the Loan Parties of this Agreement and the other Loan Documents, the borrowing and repayment of Loans and other credit
extensions and the issuance of Letters of Credit hereunder. 
 “Type”, when used in reference to any Loan or
Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate. 

“Unrestricted Subsidiary” means (a) any Subsidiary that has been designated by the board of directors of Holdings
as an Unrestricted Subsidiary pursuant to Section 6.13 subsequent to the 

  
 25 

 
Effective Date (and not subsequently designated as a Restricted Subsidiary in accordance with such Section) and (b) any Subsidiary of an Unrestricted Subsidiary. 

“U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30) of the Code.

 “U.S. Tax Certificate” has the meaning assigned to such term in Section 2.17(f)(ii)(D)(2).

 “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial
withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

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

SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by
Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency Revolving Loan”). Borrowings also may be classified and referred to by Class
(e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “Eurocurrency Revolving Borrowing”). 

SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. The word “law” shall be construed as referring to all statutes, rules, regulations, codes and
other laws (including official rulings and interpretations thereunder having the force of law or with which affected Persons customarily comply), and all judgments, orders and decrees, of all Governmental Authorities. 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, restated, supplemented or otherwise
modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth herein), (b) any definition of or reference to any statute, rule or regulation shall be construed as referring thereto as from time
to time amended, supplemented or otherwise modified (including by succession of comparable successor laws), (c) any reference herein to any Person shall be construed to include such Person’s successors and assigns (subject to any
restrictions on assignment set forth herein) and, in the case of any Governmental Authority, any other Governmental Authority that shall have succeeded to any or all functions thereof, (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) all references herein to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (f) 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. 
 SECTION 1.04.
Accounting Terms; GAAP; Treatment of Unrestricted Subsidiaries; Pro Forma Calculations. (a) Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, if Holdings notifies the Administrative Agent that Holdings requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the
application thereof on the operation of such provision (or if the Administrative Agent notifies Holdings that the 

  
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Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof,
then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith.
Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made (i) without giving effect to any
election under Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of Holdings, the Borrower
or any Subsidiary at “fair value”, as defined therein and (ii) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting
Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated
principal amount thereof. Except as otherwise agreed, all accounting and financial calculations and determinations shall be made without consolidating the accounts of Unrestricted Subsidiaries with those of Holdings, the Borrower or any Restricted
Subsidiary, notwithstanding that such treatment is inconsistent with GAAP. 
 (b) All pro forma computations required to be made
hereunder giving effect to any Material Acquisition or Material Disposition, or issuance, incurrence or assumption of Indebtedness, or other transaction shall in each case be calculated giving pro forma effect thereto (and, in the case of any pro
forma computation made hereunder to determine whether such acquisition or disposition, or issuance, incurrence or assumption of Indebtedness, or other transaction is permitted to be consummated hereunder, to any other such transaction consummated
since the first day of the period covered by any component of such pro forma computation and on or prior to the date of such computation) as if such transaction had occurred on the first day of the period of four consecutive fiscal quarters ending
with the most recent fiscal quarter for which financial statements shall have been delivered pursuant to Section 5.01(a) or 5.01(b) (or, prior to the delivery of any such financial statements, ending with the last fiscal quarter included in the
financial statements referred to in Section 3.04(a)(ii)), and, to the extent applicable, to the historical earnings and cash flows associated with the assets acquired or disposed of (but without giving effect to any synergies or cost savings)
and any related incurrence or reduction of Indebtedness, all in accordance with Article 11 of Regulation S-X under the Securities Act. If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such
Indebtedness shall be calculated as if the rate in effect on the date of determination had been the applicable rate for the entire period (taking into account any Swap Agreement applicable to such Indebtedness). 

SECTION 1.05. Status of Obligations. In the event that Holdings or any other Loan Party shall at any time issue or have
outstanding any Subordinated Indebtedness, Holdings shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Obligations to constitute senior indebtedness (however denominated) in respect of such
Subordinated Indebtedness and to enable the Administrative Agent and the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior indebtedness under the terms of such Subordinated
Indebtedness. Without limiting the foregoing, the Obligations are hereby designated as “senior indebtedness” and as “designated senior indebtedness” and words of similar import under and in respect of any indenture or other
agreement or instrument under which such Subordinated Indebtedness is outstanding and are further given all such other designations as shall be required under the terms of any such Subordinated Indebtedness in order that the Lenders may have and
exercise any payment blockage or other remedies available or potentially available to holders of senior indebtedness under the terms of such Subordinated Indebtedness. Nothing contained herein shall constitute a consent by the 

  
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Administrative Agent and the Lenders to the incurrence by any Loan Party of any Indebtedness not otherwise permitted to be incurred in accordance with the provisions of this Agreement.

 ARTICLE II 
 The Credits 
 SECTION 2.01. Commitments. Subject to the terms and
conditions set forth herein, each Lender agrees to make Revolving Loans to the Borrower in Agreed Currencies from time to time during the Availability Period in an aggregate principal amount that will not result in (a) subject to
Sections 2.04 and 2.11(b), the Dollar Amount of such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment, (b) subject to Sections 2.04 and 2.11(b), the sum of the Dollar Amount of the total Revolving Credit
Exposures exceeding the Aggregate Commitment or (c) subject to Sections 2.04 and 2.11(b), the Dollar Amount of the total outstanding Revolving Loans and LC Exposure, in each case denominated in Foreign Currencies, exceeding the Foreign
Currency Sublimit. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans. 
 SECTION 2.02. Loans and Borrowings. (a) Each Revolving Loan (other than a Swingline Loan) shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably in
accordance with their respective Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and
no Lender shall be responsible for any other Lender’s failure to make Loans as required. Any Swingline Loan shall be made in accordance with the procedures set forth in Section 2.05. 

(b) Subject to Section 2.14, each Revolving Borrowing shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower
may request in accordance herewith; provided that each ABR Loan shall only be made in Dollars. Each Swingline Loan shall be an ABR Loan. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such
Lender to make such Loan (and in the case of an Affiliate, the provisions of Sections 2.14, 2.15, 2.16 and 2.17 shall apply to such Affiliate to the same extent as to such Lender); 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. 
 (c) At the
commencement of each Interest Period for any Eurocurrency Revolving Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 (or, if such Borrowing is denominated in (i) Japanese Yen, JPY 100,000,000
or (ii) a Foreign Currency other than Japanese Yen, 1,000,000 units of such currency) and not less than $10,000,000 (or, if such Borrowing is denominated in (i) Japanese Yen, JPY 1,000,000,000 or (ii) a Foreign Currency other than
Japanese Yen, 10,000,000 units of such currency). At the time that each ABR Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $500,000 and not less than $10,000,000; provided that an
ABR Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Aggregate Commitment or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e). Each
Swingline Loan shall be in an amount that is an integral multiple of $500,000 and not less than $10,000,000. Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time be more
than a total of six (6) Eurocurrency Revolving Borrowings outstanding. 

  
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 (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be
entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date. 
 SECTION 2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing, the Borrower shall notify the Administrative Agent of such request (a) by irrevocable written notice (via a
written Borrowing Request in the form attached hereto as Exhibit I and signed by the Borrower, promptly followed by telephonic confirmation of such request) in the case of a Eurocurrency Borrowing, not later than 12:00 noon, Local Time, three
(3) Business Days (in the case of a Eurocurrency Borrowing denominated in Dollars) or by irrevocable written notice (via a written Borrowing Request in a form approved by the Administrative Agent and signed by the Borrower) not later than four
(4) Business Days (in the case of a Eurocurrency Borrowing denominated in a Foreign Currency), in each case before the date of the proposed Borrowing or (b) by telephone in the case of an ABR Borrowing, not later than 11:00 a.m., New
York City time, on the date of the proposed Borrowing; provided that any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e) may be given not later than
10:00 a.m., New York City time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing
Request in a form approved by the Administrative Agent and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02: 

(i) the aggregate amount of the requested Borrowing; 

(ii) the date of such Borrowing, which shall be a Business Day; 

(iii) whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; 

(iv) in the case of a Eurocurrency Borrowing, the Agreed Currency and initial Interest Period to be applicable thereto,
which shall be a period contemplated by the definition of the term “Interest Period”; and 
 (v) the
location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.07. 
 If no election as to the Type of Revolving Borrowing is specified, then, in the case of a Borrowing denominated in Dollars, the requested Revolving Borrowing shall be an ABR Borrowing. If no Interest
Period is specified with respect to any requested Eurocurrency Revolving Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance
with this Section, 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. 

SECTION 2.04. Determination of Dollar Amounts. The Administrative Agent will, in a manner consistent with its customary practices,
determine the Dollar Amount of: 
 (a) each Eurocurrency Borrowing as of the date two (2) Business Days prior to the date
of such Borrowing or, if applicable, the date of conversion/continuation of any Borrowing as a Eurocurrency Borrowing, 

  
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 (b) the LC Exposure as of the date of each request for the issuance, amendment, renewal or
extension of any Letter of Credit, and 
 (c) all outstanding Credit Events on and as of the last Business Day of each calendar
quarter and, during the continuation of an Event of Default, on any other Business Day elected by the Administrative Agent in its discretion or upon instruction by the Required Lenders. 
 Each day upon or as of which the Administrative Agent determines Dollar Amounts as described in the preceding clauses (a), (b) and (c) is herein described as a “Computation Date”
with respect to each Credit Event for which a Dollar Amount is determined on or as of such day. 
 SECTION 2.05. Swingline
Loans. (a) Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans in Dollars to the Borrower from time to time during the 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 $15,000,000 or (ii) the Dollar Amount of the total Revolving Credit Exposures exceeding the Aggregate Commitment;
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) To request a Swingline Loan, the Borrower shall notify the Administrative Agent of
such request by telephone (confirmed by telecopy), not later than 12:00 noon, New York City time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and
amount of the requested Swingline Loan. 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 the general deposit 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 2.06(e), by remittance to the Issuing Bank) by
3:00 p.m., New York City time, on the requested date of such Swingline Loan. 
 (c) The Swingline Lender may by written
notice given to the Administrative Agent not later than 10:00 a.m., New York City time, on any Business Day require the 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 Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Lender, specifying in such notice such Lender’s Applicable
Percentage of such Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such Lender’s
Applicable Percentage of such Swingline Loan or Loans. Each Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Lender
shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis
mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from the Lenders. The Administrative Agent shall notify the Borrower of any
participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline
Lender from the Borrower (or other 

  
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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 pursuant to this Section 2.05(c)
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 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 paragraph shall not relieve the Borrower of any default in the payment thereof. 

SECTION 2.06. 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 Agreed Currencies for its own account, in a form reasonably acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time during the Availability Period. In
the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the 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. Notwithstanding the foregoing, the letters of credit identified on Schedule 2.06 to the Disclosure Letter (the “Existing Letters
of Credit”) shall be deemed to be “Letters of Credit” issued on the Effective Date for all purposes of the Loan Documents. 
 (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 telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date
of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which
shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the Agreed Currency applicable thereto, the name and address of the
beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed
to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) subject to Sections 2.04 and 2.11(b), the Dollar Amount of the LC Exposure shall not exceed $40,000,000, (ii) subject to
Sections 2.04 and 2.11(b), the sum of the Dollar Amount of the total Revolving Credit Exposures shall not exceed the Aggregate Commitment and (iii) subject to Sections 2.04 and 2.11(b), the Dollar Amount of the total outstanding
Revolving Loans and LC Exposure, in each case denominated in Foreign Currencies, shall not exceed the Foreign Currency Sublimit. 
 (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date eighteen (18) months after the date of the issuance of such
Letter of Credit (or, in the case of any renewal or extension thereof, eighteen (18) months after such renewal or extension), and (ii) the date that is five (5) Business Days prior to the Maturity Date. 

(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 

  
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Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate Dollar 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 paragraph (e) of this Section, 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 paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of
any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 

(e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower shall
reimburse such LC Disbursement by paying to the Administrative Agent in Dollars the Dollar Amount equal to such LC Disbursement, calculated as of the date the Issuing Bank made such LC Disbursement (or if the Issuing Bank shall so elect in its sole
discretion by notice to the Borrower, in such other Agreed Currency which was paid by the Issuing Bank pursuant to such LC Disbursement in an amount equal to such LC Disbursement) not later than 12:00 noon, Local Time, on 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 the Dollar Amount of $1,000,000, the
Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.03 or 2.05 that such payment be financed with an ABR Revolving Borrowing or Swingline Loan in an equivalent Dollar Amount of such LC
Disbursement and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR Revolving Borrowing or Swingline Loan. If the Borrower fails to make such payment when due, the
Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from the Borrower in respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Lender
shall pay to the Administrative Agent its Applicable Percentage of the payment then due from the Borrower, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply,
mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank 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 paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph 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 paragraph to reimburse the Issuing Bank for any LC Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan as
contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement. If the Borrower’s reimbursement of, or obligation to reimburse, any amounts in any Foreign Currency would
subject the Administrative Agent, the Issuing Bank or any Lender to any stamp duty, ad valorem charge or similar tax that would not be payable if such reimbursement were made or required to be made in Dollars, the Borrower shall, at its option,
either (x) pay the amount of any such tax requested by the Administrative Agent, the Issuing Bank or the relevant Lender or (y) reimburse each LC Disbursement made in such Foreign Currency in Dollars, in an amount equal to the Equivalent
Amount, calculated using the applicable Exchange Rates, on the date such LC Disbursement is made, of such LC Disbursement. 

(f) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (e) of this
Section shall be absolute, unconditional and irrevocable, and shall be 

  
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performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of
Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in
any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever,
whether or not similar to any of the foregoing, that might, but for the provisions of this Section, 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 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 by telephone (confirmed by telecopy) 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, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day
from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans (or in the case such LC Disbursement is denominated in
a Foreign Currency, at the Overnight Foreign Currency Rate for such Agreed Currency plus the then effective Applicable Rate with respect to Eurocurrency Revolving Loans); provided that, if the Borrower fails to reimburse such LC
Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date
of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment. 

  
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 (i) Replacement of 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 2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank
shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such
successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall
continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit then outstanding and issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.

 (j) Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the
Borrower receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposure representing greater than 50% of the total LC Exposure) demanding the deposit of cash
collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders, an amount in cash equal to 105% of the Dollar Amount of the LC
Exposure as of such date plus any accrued and unpaid interest thereon; provided that (i) the portions of such amount attributable to undrawn Foreign Currency Letters of Credit or LC Disbursements in a Foreign Currency that the Borrower
is not late in reimbursing shall be deposited in the applicable Foreign Currencies in the actual amounts of such undrawn Letters of Credit and LC Disbursements and (ii) 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 described in clause (h) or (i) of
Section 7.01. For the purposes of this paragraph, the Foreign Currency LC Exposure shall be calculated using the applicable Exchange Rate on the date notice demanding cash collateralization is delivered to the Borrower. The Borrower also shall
deposit cash collateral pursuant to this paragraph as and to the extent required by Section 2.11(b). Such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the Obligations. The Administrative
Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of
the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the
Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure
at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other Obligations. If the Borrower is required
to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all Events of
Default have been cured or waived. 
 SECTION 2.07. Funding of Borrowings. (a) Each Lender shall make each Loan to
be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds (i) in the case of Loans denominated in Dollars, by 2:00 p.m., New York City time, to the account of the Administrative Agent most recently
designated by it for such purpose by notice to the Lenders and (ii) in the case of each Loan denominated in a Foreign Currency, by 12:00 noon, Local Time, in the city of the 

  
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Administrative Agent’s Eurocurrency Payment Office for such currency and at such Eurocurrency Payment Office for such currency; provided that Swingline Loans shall be made as provided
in Section 2.05. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to (x) an account of the Borrower maintained with the Administrative Agent and
designated by the Borrower in the applicable Borrowing Request, in the case of Loans denominated in Dollars and (y) an account of the Borrower as designated by the Borrower in the applicable Borrowing Request, in the case of Loans denominated
in a Foreign Currency; provided that ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the Issuing Bank. 

(b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing (or, in the case
of an ABR Borrowing, prior to 1:00 p.m. New York City time 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 paragraph (a) of this Section 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 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 (including without limitation the Overnight Foreign Currency Rate in the case of Loans denominated in a Foreign Currency) or (ii) in the
case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 

SECTION 2.08. Interest Elections. (a) Each Revolving Borrowing initially shall be of the Type specified in the applicable
Borrowing Request and, in the case of a Eurocurrency Revolving Borrowing, shall have an initial Interest Period as specified in such Borrowing 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 Eurocurrency Revolving Borrowing, may elect Interest Periods therefor, all as provided in this Section. 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 comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swingline
Borrowings, which may not be converted or continued. 
 (b) To make an election pursuant to this Section, the Borrower shall
notify the Administrative Agent of such election (by telephone or irrevocable written notice in the case of a Borrowing denominated in Dollars or by irrevocable written notice (via an Interest Election Request in the form attached hereto as Exhibit
J and signed by the Borrower) in the case of a Borrowing denominated in a Foreign Currency) by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Revolving Borrowing of the Type resulting
from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest
Election Request in the form attached hereto as Exhibit J and signed by the Borrower. Notwithstanding any contrary provision herein, this Section shall not be construed to permit the Borrower to (i) change the currency of any Borrowing,
(ii) elect an Interest Period for Eurocurrency 

  
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Loans that does not comply with Section 2.02(d) or (iii) convert any Borrowing to a Borrowing of a Type not available under such Borrowing. 

(c) Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02:

 (i) the Borrowing to which such Interest Election Request applies and, if different options are being elected
with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting
Borrowing); 
 (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 Eurocurrency
Borrowing; and 
 (iv) if the resulting Borrowing is a Eurocurrency Borrowing, the Interest Period and Agreed
Currency to be applicable thereto after giving effect to such election, which Interest Period shall be a period contemplated by the definition of the term “Interest Period”. 
 If any such Interest Election Request requests a Eurocurrency 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. 
 (d) 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) If the Borrower
fails to deliver a timely Interest Election Request with respect to a Eurocurrency Revolving 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 (i) in the case of a Borrowing denominated in Dollars, such Borrowing shall be converted to an ABR Borrowing and (ii) in the case of a Borrowing denominated in a Foreign Currency in respect of which the Borrower shall have failed to
deliver an Interest Election Request prior to the third
(3rd) Business Day preceding the end of such Interest
Period, such Borrowing shall automatically continue as a Eurocurrency Borrowing in the same Agreed Currency with an Interest Period of one month unless such Eurocurrency Borrowing is or was repaid in accordance with Section 2.11.
Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing
(i) no outstanding Revolving Borrowing denominated in Dollars may be converted to or continued as a Eurocurrency Borrowing, (ii) unless repaid, each Eurocurrency Revolving Borrowing denominated in Dollars shall be converted to an ABR
Borrowing at the end of the Interest Period applicable thereto and (iii) unless repaid, each Eurocurrency Revolving Borrowing denominated in a Foreign Currency shall automatically be continued as a Eurocurrency Borrowing with an Interest Period
of one month. 
 SECTION 2.09. Termination and Reduction of Commitments. (a) Unless previously terminated, the
Commitments shall terminate on the Maturity Date. 
 (b) The Borrower may at any time terminate, or from time to time reduce,
the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $10,000,000 and (ii) the Borrower shall not terminate or

  
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reduce the Commitments if and to the extent that, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.11, the Dollar Amount of the sum of the Revolving
Credit Exposures would exceed the Aggregate Commitment. 
 (c) The Borrower shall notify the Administrative Agent of any
election to terminate or reduce the Commitments under paragraph (b) of this Section 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 shall be irrevocable; provided that a notice of termination of
the Commitments delivered by the Borrower 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 the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective
Commitments. 
 SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises
to pay (i) to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date in the currency of such Loan and (ii) to the Swingline Lender the then unpaid principal
amount of each Swingline Loan on the earlier of the 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 two (2) Business Days after such Swingline Loan is made;
provided that on each date that a Revolving Borrowing is made, the Borrower shall repay all Swingline Loans then outstanding. 
 (b) 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. 
 (c) The
Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class, Agreed Currency 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 the account of the Lenders and each Lender’s share thereof.

 (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section 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. 
 (e) Any Lender may
request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and
its registered assigns) and in the form attached hereto as Exhibit K. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or
more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

  
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 SECTION 2.11. Prepayment of Loans. 

(a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior
notice in accordance with the provisions of this Section 2.11(a). The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed by telecopy) of any
prepayment hereunder (i) in the case of prepayment of a Eurocurrency Revolving Borrowing, not later than 12:00 noon, Local Time, three (3) Business Days (in the case of a Eurocurrency Borrowing denominated in Dollars) or four
(4) Business Days (in the case of a Eurocurrency Borrowing denominated in a Foreign Currency), in each case before the date of prepayment, (ii) in the case of prepayment of an ABR Revolving Borrowing, not later than 12:00 noon, New
York City time, on the date of prepayment or (iii) in the case of prepayment of a Swingline Loan, not later than 12:00 noon, New York City time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment
date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by
Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of any such notice relating to a Revolving Borrowing, the Administrative Agent
shall advise the Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in an amount that would be permitted in the case of an advance of a Revolving Borrowing of the same Type as provided in Section 2.02.
Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by (i) accrued interest to the extent required by Section 2.13 and (ii) break funding
payments pursuant to Section 2.16. 
 (b) If at any time, (i) other than as a result of fluctuations in currency
exchange rates, (A) the sum of the aggregate principal Dollar Amount of all of the Revolving Credit Exposures (calculated, with respect to those Credit Events denominated in Foreign Currencies, as of the most recent Computation Date with
respect to each such Credit Event) exceeds the Aggregate Commitment or (B) the sum of the aggregate principal Dollar Amount of all of the outstanding Revolving Credit Exposures denominated in Foreign Currencies (the “Foreign Currency
Exposure”) (so calculated), as of the most recent Computation Date with respect to each such Credit Event, exceeds the Foreign Currency Sublimit or (ii) solely as a result of fluctuations in currency exchange rates, (A) the sum of
the aggregate principal Dollar Amount of all of the Revolving Credit Exposures (so calculated) exceeds 105% of the Aggregate Commitment or (B) the Foreign Currency Exposure, as of the most recent Computation Date with respect to each such
Credit Event, exceeds 105% of the Foreign Currency Sublimit, the Borrower shall in each case immediately repay Borrowings or cash collateralize LC Exposure in an account with the Administrative Agent pursuant to Section 2.06(j), as applicable,
in an aggregate principal amount sufficient to cause (x) the aggregate Dollar Amount of all Revolving Credit Exposures (so calculated) to be less than or equal to the Aggregate Commitment and (y) the Foreign Currency Exposure to be less
than or equal to the Foreign Currency Sublimit, as applicable. 
 SECTION 2.12. Fees. (a) The Borrower agrees to pay
to the Administrative Agent for the account of each Lender a commitment fee, which shall accrue at the Applicable Rate on the average daily amount of the Available Revolving Commitment of such Lender during the period from and including the
Effective Date to but excluding the date on which the Commitment of such Lender terminates; provided that, if such Lender continues to have any Revolving Credit Exposure after its Commitment terminates, then such commitment fee shall continue
to accrue on the average daily amount of such Lender’s Revolving Credit Exposure from and including the date on which its Commitment terminates to but excluding the date on which such Lender ceases to have any Revolving Credit Exposure. Accrued
commitment fees shall be payable in arrears on the last day of March, June, September and 

  
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December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the date hereof; provided that any commitment fees accruing after
the date on which the Commitments terminate shall be payable on demand. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding
the last day). 
 (b) The Borrower agrees to pay (i) to the Administrative Agent for the account of
each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Eurocurrency Revolving Loans on the average daily Dollar Amount
of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Commitment
terminates and the date on which such Lender ceases to have any LC Exposure and (ii) to the Issuing Bank for its own account a fronting fee, which shall accrue at the rate of 0.125% per annum on the average daily Dollar Amount of the LC
Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by the Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of
termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees and commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment,
renewal or extension of any Letter of Credit or processing of drawings thereunder. Unless otherwise specified above, 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 date on which the Commitments terminate and any such fees accruing after the date on which the
Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph 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 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Participation fees and fronting fees in respect of Letters of Credit denominated in Dollars shall be paid in
Dollars, and participation fees and fronting fees in respect of Letters of Credit denominated in a Foreign Currency shall be paid in such Foreign Currency. 
 (c) 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.

 (d) All fees payable hereunder shall be paid on the dates due, in Dollars (except as otherwise expressly provided in this
Section 2.12) and immediately available funds, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Lenders. Any such fees paid
shall not be refundable under any circumstances. 
 SECTION 2.13. Interest. (a) The Loans comprising each ABR
Borrowing (including each Swingline Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate. 
 (b) The
Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate. 
 (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity,

  
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upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2%
plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount, 2% plus the rate applicable to ABR Loans as provided in paragraph (a) of this Section.

 (d) Accrued interest on each Revolving Loan shall be payable in arrears on each Interest Payment Date for such Revolving Loan
and upon termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a
prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion
of any Eurocurrency Revolving 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) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest (i) 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 (ii) for Borrowings denominated in Pounds Sterling shall
be computed on the basis of a year of 365 days, 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. 
 SECTION
2.14. Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurocurrency 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, as applicable, for such Interest Period; or 
 (b) the Administrative Agent is advised by the Required
Lenders that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing
for such Interest Period; 
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as
promptly as practicable thereafter 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 Revolving Borrowing to, or continuation of any Revolving Borrowing as, a Eurocurrency Borrowing shall be ineffective and, unless repaid, (A) in the case of a Eurocurrency Borrowing denominated in Dollars, such Borrowing shall be made as an
ABR Borrowing and (B) in the case of a Eurocurrency Borrowing denominated in a Foreign Currency, such Eurocurrency Borrowing shall be repaid on the last day of the then current Interest Period applicable thereto, and (ii) if any Borrowing
Request requests a Eurocurrency Revolving Borrowing in Dollars, such Borrowing shall be made as an ABR Borrowing (and if any Borrowing Request requests a Eurocurrency Revolving Borrowing denominated in a Foreign Currency, such Borrowing Request
shall be ineffective); provided that if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted. 

SECTION 2.15. Increased Costs. (a) If any Change in Law shall: 

  
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 (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 by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or the Issuing Bank;

 (ii) impose on any Lender or the Issuing Bank or the London interbank market any other condition, cost or
expense affecting this Agreement or Eurocurrency Loans made by such Lender or any Letter of Credit or participation therein; or 
 (iii) subject any Recipient to any Taxes on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto
(other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (e) of the definition of Excluded Taxes and (C) Connection Income Taxes); 
 and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Loan or of maintaining its obligation to make any such Loan (including, without limitation,
pursuant to any conversion of any Borrowing denominated in an Agreed Currency into a Borrowing denominated in any other Agreed Currency) or to increase the cost to such Lender or the Issuing Bank of participating in, issuing or maintaining any
Letter of Credit (including, without limitation, pursuant to any conversion of any Borrowing denominated in an Agreed Currency into a Borrowing denominated in any other Agreed Currency) or to reduce the amount of any sum received or receivable by
such Lender or the Issuing Bank hereunder, whether of principal, interest or otherwise (including, without limitation, pursuant to any conversion of any Borrowing denominated in an Agreed Currency into a Borrowing denominated in any other Agreed
Currency), then 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, as the case may be, for such additional costs incurred or reduction
suffered. 
 (b) If any Lender or the Issuing Bank determines that any Change in Law regarding capital requirements has or would
have the effect of reducing the rate of return on such Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s or the Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans made
by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level below that which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could
have achieved but for such Change in Law (taking into consideration such Lender’s or the Issuing Bank’s policies and the policies of such Lender’s or the Issuing Bank’s holding company with respect to capital adequacy), 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) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts necessary to
compensate such Lender or the Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and 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) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this Section 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 for any increased costs or reductions incurred more

  
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than 180 days 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; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period referred to
above shall be extended to include the period of retroactive effect thereof. 
 SECTION 2.16. Break Funding Payments. In
the event of (a) the payment of any principal of any Eurocurrency Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default or as a result of any prepayment pursuant to
Section 2.11), (b) the conversion of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurocurrency Loan on the date specified in any
notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(a) and is revoked in accordance therewith) or (d) the assignment of any Eurocurrency 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 2.19, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. Such loss, cost or
expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the
Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period
that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such
period, for deposits in the relevant currency of a comparable amount and period from other banks in the eurocurrency market. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this
Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within ten (10) days after receipt thereof. 

SECTION 2.17. Taxes. (a) Withholding of Taxes; Gross-Up. Each payment by any Loan Party under any Loan Document shall
be made without withholding for any Taxes, unless such withholding is required by any law. If any Withholding Agent determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Withholding Agent may
so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable law. If such Taxes are Indemnified Taxes, then the amount payable by such Loan Party shall be increased as
necessary so that, net of such withholding (including such withholding applicable to additional amounts payable under this Section), the applicable Recipient receives the amount it would have received had no such withholding been made. 

(b) Payment of Other Taxes by the Borrower. The Borrower shall timely pay any Other Taxes to the relevant Governmental Authority
in accordance with applicable law. 
 (c) Evidence of Payments. As soon as practicable after any payment of Indemnified
Taxes by any Loan Party to a Governmental Authority, such Loan Party 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. 
 (d)
Indemnification by the Borrower. The Borrower shall indemnify each Recipient for any Indemnified Taxes that are paid or payable by such Recipient in connection with any Loan Document 

  
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(including amounts paid or payable under this Section 2.17(d)) 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. The indemnity under this Section 2.17(d) shall be paid within ten (10) days after the Recipient delivers to the Borrower a certificate stating the amount of any
Indemnified Taxes so paid or payable by such Recipient and describing the basis for the indemnification claim. Such certificate shall be conclusive of the amount so paid or payable absent manifest error. Such Recipient shall deliver a copy of such
certificate to the Administrative Agent. 
 (e) Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent for any Taxes (but, in the case of any Indemnified Taxes, 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) attributable to such Lender that are paid or payable by the Administrative Agent or the applicable Loan Party (as applicable) 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. The indemnity under this Section 2.17(e) shall be paid within ten (10) days after the Administrative Agent delivers to
the applicable Lender a certificate stating the amount of Taxes so paid or payable by the Administrative Agent. Such certificate shall be conclusive of the amount so paid or payable absent manifest error. 

(f) Status of Lenders. (i) Any Lender that is entitled to an exemption from, or reduction of, any applicable withholding Tax
with respect to any payments 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, or at a reduced rate of, withholding. In addition, any Lender, if requested by the Borrower or the Administrative Agent,
shall deliver such other documentation prescribed by 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 any
withholding (including 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 2.17(f)(ii)(A) through (E) below) shall not be required if in the Lender’s 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 the reasonable request of the Borrower or the Administrative Agent, any Lender shall update any form or certification previously delivered pursuant to this
Section 2.17(f). If any form or certification previously delivered pursuant to this Section expires or becomes obsolete or inaccurate in any respect with respect to a Lender, such Lender shall promptly (and in any event within ten
(10) days after such expiration, obsolescence or inaccuracy) notify the Borrower and the Administrative Agent in writing of such expiration, obsolescence or inaccuracy and update the form or certification if it is legally eligible to do so.

 (ii) Without limiting the generality of the foregoing, if the Borrower is a U.S. Person, any Lender with
respect to the Borrower shall, if it is legally eligible to do so, deliver to the Borrower and the Administrative Agent (in such number of copies reasonably requested by the Borrower and the Administrative Agent) on or prior to the date on which
such Lender becomes a party hereto, duly completed and executed copies of whichever of the following is applicable: 
 (A) in the case of a Lender that is a U.S. Person, IRS Form W-9 certifying that such Lender is exempt from U.S. Federal backup withholding tax; 

  
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 (B) in the case of a Non-U.S. Lender claiming the benefits of an income
tax treaty to which the United States is a party (1) with respect to payments of interest under any Loan Document, 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 (2) 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; 
 (C) in the case of a
Non-U.S. Lender for whom payments under any Loan Document constitute income that is effectively connected with such Lender’s conduct of a trade or business in the United States, IRS Form W-8ECI; 

(D) in the case of a Non-U.S. Lender claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Code both (1) IRS Form W-8BEN and (2) a certificate substantially in the form of Exhibit G (a “U.S. Tax Certificate”) to the effect that such Lender is not (a) a
“bank” within the meaning of Section 881(c)(3)(A) of the Code, (b) a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, (c) a “controlled foreign
corporation” described in Section 881(c)(3)(C) of the Code and (d) conducting a trade or business in the United States with which the relevant interest payments are effectively connected; 

(E) in the case of a Non-U.S. Lender that is not the beneficial owner of payments made under this Agreement
(including a partnership or a participating Lender) (1) an IRS Form W-8IMY on behalf of itself and (2) the relevant forms prescribed in clauses (A), (B), (C), (D) and (F) of this paragraph (f)(ii) that would be
required of each such beneficial owner or partner of such partnership if such beneficial owner or partner were a Lender; provided, however, that if the Lender is a partnership and one or more of its partners are claiming the exemption for portfolio
interest under Section 881(c) of the Code, such Lender may provide a U.S. Tax Certificate on behalf of such partners; or 
 (F) any other form prescribed by law as a basis for claiming exemption from, or a reduction of, U.S. Federal withholding Tax together with such supplementary documentation necessary to enable the
Borrower or the Administrative Agent to determine the amount of Tax (if any) required by law to be withheld. 

(iii) 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 Withholding Agent, at the
time or times prescribed by law and at such time or times reasonably requested by the Withholding 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 Withholding Agent as may be necessary for the Withholding Agent to comply with its obligations under FATCA, to determine that such Lender has or has not complied with such Lender’s obligations under
FATCA and, as necessary, to determine the amount to deduct and withhold from such payment. Solely for purposes of this Section 2.17(f)(iii), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.

  
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 (g) 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 2.17 (including additional amounts paid pursuant to this Section 2.17), 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 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including any 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 to such
indemnifying party pursuant to the previous sentence (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event such indemnified party is required to repay such refund to such Governmental Authority.
Notwithstanding anything to the contrary in this Section 2.17(g), in no event will any indemnified party be required to pay any amount to any indemnifying party pursuant to this Section 2.17(g) if such payment would place such indemnified
party in a less favorable position (on a net after-Tax basis) than such indemnified party would have been in if the indemnification payments or additional amounts giving rise to such refund had never been paid. This Section 2.17(g) shall not be
construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes which it deems confidential) to the indemnifying party or any other Person. 

(h) Issuing Bank. For purposes of Section 2.17(e) and (f), the term “Lender” includes the Issuing Bank. 

(i) Reasonable Efforts. Any Lender or assignee claiming any additional amounts payable pursuant to this Section 2.17 agrees
to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to change the jurisdiction of its lending office if the making of such a change would avoid the need for, or reduce the amount of, any such
additional amounts that may thereafter accrue and would not, in the reasonable judgment of such Lender or assignee, be otherwise disadvantageous to such Lender or assignee. 
 SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. 
 (a) 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 2.15, 2.16
or 2.17, or otherwise) prior to (i) in the case of payments denominated in Dollars, 12:00 noon, New York City time and (ii) in the case of payments denominated in a Foreign Currency, 12:00 noon, Local Time, in the city of the
Administrative Agent’s Eurocurrency Payment Office for such currency, in each case on the date when due, in immediately available funds, without set-off or counterclaim. 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 (i) in the same currency in which the applicable Credit Event was made
(or where such currency has been converted to euro, in euro) and (ii) to the Administrative Agent at its offices at 10 South Dearborn Street, 7th Floor, Chicago, Illinois 60603 or, in the case of a Credit Event denominated in a Foreign Currency, the Administrative
Agent’s Eurocurrency Payment Office for such currency, except payments to be made directly to the Issuing Bank or Swingline Lender as expressly provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall
be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments denominated in the same currency 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

  
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payable for the period of such extension. Notwithstanding the foregoing provisions of this Section, if, after the making of any Credit Event in any Foreign Currency, currency control or exchange
regulations are imposed in the country which issues such currency with the result that the type of currency in which the Credit Event was made (the “Original Currency”) no longer exists or the Borrower is not able to make payment to
the Administrative Agent for the account of the Lenders in such Original Currency, then all payments to be made by the Borrower hereunder in such currency shall instead be made when due in Dollars in an amount equal to the Dollar Amount (as of the
date of repayment) of such payment due, it being the intention of the parties hereto that the Borrower takes all risks of the imposition of any such currency control or exchange regulations. 

(b) 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) At the election of the Administrative Agent, all payments of
principal, interest, LC Disbursements, fees, premiums, reimbursable expenses (including, without limitation, all reimbursement for fees and expenses pursuant to Section 9.03), and other sums payable under the Loan Documents, may be paid from
the proceeds of Borrowings made hereunder whether made following a request by the Borrower pursuant to Section 2.03 or a deemed request as provided in this Section or may be deducted from any deposit account of the Borrower maintained with the
Administrative Agent. The Borrower hereby irrevocably authorizes (i) the Administrative Agent to make a Borrowing for the purpose of paying each payment of principal, interest and fees as it becomes due hereunder or any other amount due under
the Loan Documents and agrees that all such amounts charged shall constitute Loans (including Swingline Loans) and that all such Borrowings shall be deemed to have been requested pursuant to Sections 2.03, 2.04 or 2.05, as applicable and
(ii) the Administrative Agent to charge any deposit account of the Borrower maintained with the Administrative Agent for each payment of principal, interest and fees as it becomes due hereunder or any other amount due under the Loan Documents.

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

  
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law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to such participation as
fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 
 (e) 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 (including without limitation the Overnight Foreign Currency Rate in the case of Loans denominated in a Foreign Currency). 

(f) If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(c), 2.06(d) or (e), 2.07(b),
2.18(e) or 9.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit
of the Administrative Agent, the Swingline Lender or the Issuing Bank to satisfy such Lender’s obligations to it under such Section until all such unsatisfied obligations are fully paid and/or (ii) hold any such amounts in a segregated
account as cash collateral for, and application to, any future funding obligations of such Lender under any such Section; in the case of each of clauses (i) and (ii) above, in any order as determined by the Administrative Agent in its
discretion. 
 SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender requests compensation
under Section 2.15, or the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a
different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment
(i) would eliminate or reduce amounts payable pursuant to Section 2.15 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to
such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b) If (i) any Lender requests compensation under Section 2.15, (ii) the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.17 or (iii) any Lender becomes a Defaulting 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 Section 9.04, with the Borrower or replacement Lender obligated to pay any applicable processing or recordation fee), all its interests, rights and obligations
under the Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (x) the Borrower shall have received the prior written consent of the
Administrative Agent (and if a Commitment is being assigned, the Issuing Bank), which consent shall not unreasonably be withheld, (y) such Lender shall have received payment of an amount equal to the

  
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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, 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) and (z) in the case of any such assignment resulting from a claim for compensation under Section 2.15
or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation 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 2.20. Expansion Option. The Borrower may from time to time elect to increase the Commitments or enter into one or more tranches of term loans (each an “Incremental Term
Loan”), in each case in minimum increments of $10,000,000 so long as, after giving effect thereto, the aggregate amount of such increases and all such Incremental Term Loans does not exceed $125,000,000. The Borrower may arrange for any
such increase or tranche to be provided by one or more Lenders (each Lender so agreeing to an increase in its Commitment, or to participate in such Incremental Term Loans, an “Increasing Lender”), or by one or more new banks,
financial institutions or other entities (each such new bank, financial institution or other entity, an “Augmenting Lender”), to increase their existing Commitments, or to participate in such Incremental Term Loans, or extend
Commitments, as the case may be; provided that (i) each Augmenting Lender, shall be subject to the approval of the Borrower and the Administrative Agent and (ii) (x) in the case of an Increasing Lender, the Borrower and such
Increasing Lender execute an agreement substantially in the form of Exhibit C hereto, and (y) in the case of an Augmenting Lender, the Borrower and such Augmenting Lender execute an agreement substantially in the form of
Exhibit D hereto. No consent of any Lender (other than the Lenders participating in the increase or any Incremental Term Loan) shall be required for any increase in Commitments or Incremental Term Loan pursuant to this Section 2.20.
Increases and new Commitments and Incremental Term Loans created pursuant to this Section 2.20 shall become effective on the date agreed by the Borrower, the Administrative Agent and the relevant Increasing Lenders or Augmenting Lenders, and
the Administrative Agent shall notify each Lender thereof. Notwithstanding the foregoing, no increase in the Commitments (or in the Commitment of any Lender) or tranche of Incremental Term Loans shall become effective under this paragraph unless,
(i) on the proposed date of the effectiveness of such increase or Incremental Term Loans, (A) the conditions set forth in paragraphs (a) and (b) of Section 4.02 shall be satisfied or waived by the Required Lenders and the
Administrative Agent shall have received a certificate to that effect dated such date and executed by a Financial Officer of the Borrower and (B) Holdings and the Borrower shall be in compliance (on a pro forma basis) with the covenants
contained in Section 6.12 and (ii) the Administrative Agent shall have received documents consistent with those delivered on the Effective Date as to the corporate power and authority of the Borrower to borrow hereunder after giving effect
to such increase. On the effective date of any increase in the Commitments or any Incremental Term Loans being made, (i) each relevant Increasing Lender and Augmenting Lender shall make available to the Administrative Agent such amounts in
immediately available funds as the Administrative Agent shall determine, for the benefit of the other Lenders, as being required in order to cause, after giving effect to such increase and the use of such amounts to make payments to such other
Lenders, each Lender’s portion of the outstanding Revolving Loans of all the Lenders to equal its Applicable Percentage of such outstanding Revolving Loans, and (ii) except in the case of any Incremental Term Loans, the Borrower shall be
deemed to have repaid and reborrowed all outstanding Revolving Loans as of the date of any increase in the Commitments (with such reborrowing to consist of the Types of Revolving Loans, with related Interest Periods if applicable, specified in a
notice delivered by the Borrower, in accordance with the requirements of Section 2.03). The deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued interest on the
amount prepaid and, in respect of each Eurocurrency Loan, shall be subject to indemnification by the Borrower pursuant to the provisions of Section 2.16 if the deemed payment occurs 

  
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other than on the last day of the related Interest Periods. The Incremental Term Loans (a) shall rank pari passu in right of payment with the Revolving Loans, (b) shall not mature
earlier than the Maturity Date (but may have amortization prior to such date) and (c) shall be treated substantially the same as (and in any event no more favorably than) the Revolving Loans; provided that (i) the terms and
conditions applicable to any tranche of Incremental Term Loans maturing after the Maturity Date may provide for material additional or different financial or other covenants or prepayment requirements applicable only during periods after the
Maturity Date and (ii) the Incremental Term Loans may be priced differently than the Revolving Loans. Incremental Term Loans may be made hereunder pursuant to an amendment or restatement (an “Incremental Term Loan Amendment”)
of this Agreement and, as appropriate, the other Loan Documents, executed by the Borrower, each Increasing Lender participating in such tranche, each Augmenting Lender participating in such tranche, if any, and the Administrative Agent. The
Incremental Term Loan Amendment 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 reasonable opinion of the Administrative Agent, to effect
the provisions of this Section 2.20. Nothing contained in this Section 2.20 shall constitute, or otherwise be deemed to be, a commitment on the part of any Lender to increase its Commitment hereunder, or provide Incremental Term Loans, at
any time. 
 SECTION 2.21. Judgment Currency. If for the purposes of obtaining judgment in any court it is necessary to
convert a sum due from the Borrower hereunder in the currency expressed to be payable herein (the “specified currency”) into another currency, the parties hereto agree, to the fullest extent that they may effectively do so under
applicable law, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the specified currency with such other currency at the Administrative Agent’s main New
York City office on the Business Day preceding that on which final, non-appealable judgment is given. The obligations of the Borrower in respect of any sum due to any Lender or the Administrative Agent hereunder shall, notwithstanding any judgment
in a currency other than the specified currency, be discharged only to the extent that on the Business Day following receipt by such Lender or the Administrative Agent (as the case may be) of any sum adjudged to be so due in such other currency such
Lender or the Administrative Agent (as the case may be) may in accordance with normal, reasonable banking procedures purchase the specified currency with such other currency. If the amount of the specified currency so purchased is less than the sum
originally due to such Lender or the Administrative Agent, as the case may be, in the specified currency, the Borrower agrees, to the fullest extent that it may effectively do so under applicable law, as a separate obligation and notwithstanding any
such judgment, to indemnify such Lender or the Administrative Agent, as the case may be, against such loss, and if the amount of the specified currency so purchased exceeds (a) the sum originally due to any Lender or the Administrative Agent,
as the case may be, in the specified currency and (b) any amounts shared with other Lenders as a result of allocations of such excess as a disproportionate payment to such Lender under Section 2.18, such Lender or the Administrative Agent,
as the case may be, agrees to remit such excess to the Borrower. 
 SECTION 2.22. Defaulting Lenders. Notwithstanding any
provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender: 

(a) fees shall cease to accrue on the unfunded portion of the Commitment of such Defaulting Lender pursuant to Section 2.12(a);

 (b) the Commitment and Revolving Credit Exposure of such Defaulting Lender shall not be included in determining whether the
Required Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to Section 9.02); provided, that this clause (b) shall not apply to the vote of a Defaulting
Lender in the case of an 

  
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amendment, waiver or other modification requiring the consent of such Lender or each Lender affected thereby; 
 (c) if any Swingline Exposure or LC Exposure exists at the time such Lender becomes a Defaulting Lender then: 
 (i) all or any part of the Swingline Exposure and LC Exposure of such Defaulting Lender shall be reallocated among the non-Defaulting Lenders in accordance with their respective Applicable Percentages but
only to the extent (A) the sum of all non-Defaulting Lenders’ Revolving Credit Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the total of all non-Defaulting Lenders’ Commitments,
(B) each non-Defaulting Lender’s Revolving Credit Exposure does not exceed such non-Defaulting Lender’s Commitment and (C) no Event of Default has occurred and is continuing; 

(ii) if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall
within two (2) Business Days following notice by the Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, cash collateralize for the benefit of the Issuing Bank only the Borrower’s
obligations corresponding to such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(j) for so long as such LC
Exposure is outstanding; 
 (iii) if the Borrower cash collateralizes any portion of such Defaulting
Lender’s LC Exposure pursuant to clause (ii) above, the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.12(b) with respect to such Defaulting Lender’s LC Exposure during the period
such Defaulting Lender’s LC Exposure is cash collateralized; 
 (iv) if the LC Exposure of the
non-Defaulting Lenders is reallocated pursuant to clause (i) above, then the fees payable to the Lenders pursuant to Section 2.12(a) and Section 2.12(b) shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable
Percentages; and 
 (v) if all or any portion of such Defaulting Lender’s LC Exposure is neither reallocated
nor cash collateralized pursuant to clause (i) or (ii) above, then, without prejudice to any rights or remedies of the Issuing Bank or any other Lender hereunder, all letter of credit fees payable under Section 2.12(b) with respect to
such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until and to the extent that such LC Exposure is reallocated and/or cash collateralized; and 
 (d) so long as such Lender is a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loan and the Issuing Bank shall not be required to issue, amend or increase any Letter
of Credit, unless it is satisfied that the related exposure and the Defaulting Lender’s then outstanding LC Exposure will be 100% covered by the Commitments of the non-Defaulting Lenders and/or cash collateral will be provided by the Borrower
in accordance with Section 2.22(c), and participating interests in any such newly made Swingline Loan or any newly issued or increased Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with
Section 2.22(c)(i) (and such Defaulting Lender shall not participate therein). 
 If (i) a Bankruptcy Event with
respect to a Parent of any Lender shall occur following the date hereof and for so long as such event shall continue or (ii) the Swingline Lender or the Issuing Bank has a good faith belief that any Lender has defaulted in fulfilling its
obligations under one or more other 

  
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agreements in which such Lender commits to extend credit, the Swingline Lender shall not be required to fund any Swingline Loan and the Issuing Bank shall not be required to issue, amend or
increase any Letter of Credit, unless the Swingline Lender or the Issuing Bank, as the case may be, shall have entered into arrangements with the Borrower or such Lender, satisfactory to the Swingline Lender or the Issuing Bank, as the case may be,
to defease any risk to it in respect of such Lender hereunder. 
 In the event that the Administrative Agent, the Borrower, the
Swingline Lender and the Issuing Bank each agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall be readjusted to
reflect the inclusion of such Lender’s Commitment and on such date such Lender shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the Administrative Agent shall determine may be necessary in order for
such Lender to hold such Loans in accordance with its Applicable Percentage, any cash collateral provided by the Borrower pursuant to Section 2.22(c)(ii) shall be immediately returned to the Borrower and thereupon such Lender shall cease to be
a Defaulting Lender. 
 ARTICLE III 
 Representations and Warranties 
 Each of Holdings and the Borrower
represents and warrants to the Lenders that: 
 SECTION 3.01. Organization; Powers; Subsidiaries. Each of Holdings, the
Borrower, each Material Domestic Subsidiary and each Material Foreign Subsidiary is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its
business as now conducted and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every
jurisdiction where such qualification is required, except where the failure to be so qualified, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. Holdings does not have any subsidiaries other
than the Borrower and the Subsidiaries. Schedule 3.01 to the Disclosure Letter sets forth the name of each Subsidiary and, the ownership interest of Holdings in each Subsidiary and identifies each Subsidiary that is a Subsidiary Guarantor, in
each case as of the Effective Date. As of the Effective Date, all Subsidiaries are Restricted Subsidiaries. 
 SECTION 3.02.
Authorization; Enforceability. The Transactions entered into and to be entered into by each Loan Party are within such Loan Party’s powers and have been duly authorized by all necessary action. This Agreement has been duly executed and
delivered by each of Holdings and the Borrower and constitutes, and each other Loan Document to which any Loan Party is to be a party, when executed and delivered by such Loan Party, will constitute, a legal, valid and binding obligation of
Holdings, the Borrower or such Loan Party (as the case may be), enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject
to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 SECTION 3.03.
Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by or before, any Governmental Authority, except such as have been obtained or made
and are in full force and effect and except where the failure to obtain such consent or approval or make such registration or filing, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect,

  
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(b) will not violate (i) in any material respect any order of any Governmental Authority or any applicable law or regulation or (ii) the charter, by-laws or other organizational
documents of Holdings, the Borrower or any Restricted Subsidiary, (c) except to the extent that they may prohibit payments required to be made on the Permitted Convertible Notes, will not violate or result in a default under any material
indenture, agreement or other instrument binding upon Holdings, the Borrower or any Restricted Subsidiary or any of their assets, or give rise to a right thereunder to require any payment to be made by Holdings, the Borrower or any Restricted
Subsidiary and (d) will not result in the creation or imposition of any Lien on any asset of Holdings, the Borrower or any Restricted Subsidiary, except Liens created under this Agreement and the Pledge Agreements. 

SECTION 3.04. Financial Condition; No Material Adverse Change. (a) Holdings has heretofore furnished to the Lenders its
consolidated financial statements (i) as of and for the two years ended December 31, 2010, reported on by PricewaterhouseCoopers LLP, independent public accountants, and (ii) as of and for the fiscal quarter and the portion of the
fiscal year ended September 30, 2011, certified by its chief financial officer. Such financial statements present fairly, in all material respects, the consolidated financial position and results of operations of Holdings, the Borrower and the
consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, except with respect to financial statements referred to in clause (ii) above, subject to year-end audit adjustments and the absence of footnotes.

 (b) Except as disclosed in the financial statements referred to in paragraph (a) above or the notes thereto or in
Holdings’ other reports and filings filed with the SEC prior to the Effective Date, or in the Information Memorandum and except for the Disclosed Matters (collectively, “Disclosure Documents”), none of Holdings, the Borrower or
the Subsidiaries has, as of the Effective Date, any material contingent liabilities, unusual long-term commitments or unrealized losses. 
 (c) Since December 31, 2010, there has been no material adverse change in the business, assets, operations, properties or financial condition of Holdings, the Borrower and the Restricted
Subsidiaries, taken as a whole. 
 SECTION 3.05. Properties. (a) Holdings, the Borrower and each of the Restricted
Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property material to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or
to utilize such properties for their intended purposes and subject to Permitted Encumbrances. 
 (b) Holdings, the Borrower and
each of the Restricted Subsidiaries owns, or is licensed to use, all trademarks, tradenames, copyrights, patents and other intellectual property material to its business, and, to the knowledge of Holdings and the Borrower, the use thereof by
Holdings, the Borrower and the Restricted Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse
Effect. 
 SECTION 3.06. Litigation, Environmental and Labor Matters. (a) There are no actions, suits or proceedings
by or before any arbitrator or Governmental Authority pending against or, to the knowledge of Holdings or the Borrower, threatened against or affecting Holdings, the Borrower or any of the Subsidiaries (i) as to which there is a reasonable
possibility of an adverse determination and that could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed Matters and disclosures in the Disclosure Documents) or (ii) that
involve any of the Loan Documents or the Transactions. 

  
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 (b) Except for the Disclosed Matters, matters disclosed in the Disclosure Documents, and any
other matters that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, none of Holdings, the Borrower or any of the Restricted 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 basis for any Environmental Liability. 
 (c) As of the Effective Date, there
are no material strikes, lockouts or slowdowns against Holdings, the Borrower or any Subsidiary pending or, to the knowledge of Holdings or the Borrower, threatened. Except as could not reasonably be expected to result in a Material Adverse Effect,
(a) the hours worked by and payments made to employees of Holdings, the Borrower and the Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local or foreign law dealing
with such matters and (b) the consummation of the Transactions will not give rise to any right of termination or right of renegotiation on the part of any union under any collective bargaining agreement to which Holdings, the Borrower or any
Restricted Subsidiary is bound. 
 SECTION 3.07. Compliance with Laws and Agreements. Each of Holdings, the Borrower and
the Restricted Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the
failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.08. Investment Company Status. None of Holdings, the Borrower or any of the Restricted Subsidiaries is an
“investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940, as amended. 

SECTION 3.09. Taxes. Holdings, the Borrower and each of the 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) any Taxes that are being contested in good faith by appropriate proceedings and for which Holdings, the Borrower or
such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such
ERISA Events for which liability is reasonably expected to occur, would reasonably be expected to result in a Material Adverse Effect. 
 SECTION 3.11. Disclosure. Holdings and the Borrower have disclosed to the Lenders all agreements, instruments and corporate or other restrictions to which Holdings, the Borrower or any of the
Restricted Subsidiaries is subject, and all other matters known to any of the President, a Vice President or a Financial Officer of such Persons, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse
Effect. The Information Memorandum and the other reports, financial statements, certificates or other information furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the negotiation of this
Agreement or any other Loan Document or delivered hereunder or thereunder (as modified or supplemented by other information so furnished), taken as a whole, as of the date so furnished or delivered, did not contain any material misstatement of fact
or omit 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 (a) with respect to projected financial information, Holdings and
the Borrower represent only that such information was 

  
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prepared in good faith based upon assumptions believed to be reasonable at the time and (b) with respect to information regarding the semiconductor market and other industry data, Holdings
and the Borrower represent only that such information was prepared by third-party industry research firms, and although Holdings and the Borrower believe such information is reliable, Holdings and the Borrower cannot guarantee the accuracy and
completeness of the information and have not independently verified such information. 
 SECTION 3.12. Federal Reserve
Regulations. No part of the proceeds of any Loan have been used or will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. 

SECTION 3.13. Liens. There are no Liens on any of the real or personal properties of Holdings, the Borrower or any Restricted
Subsidiary except for Liens permitted by Section 6.02. 
 SECTION 3.14. No Default. No Default or Event of Default
has occurred and is continuing. 
 SECTION 3.15. OFAC. None of Holdings, the Borrower or any Subsidiary, nor, to the
knowledge of Holdings or the Borrower, any director, officer, agent, employee or Affiliate thereof, is currently subject to any U.S. sanctions administered or enforced by OFAC, and the Borrower will not directly or indirectly use the proceeds from
the Loans or lend, contribute or otherwise make available such proceeds to Holdings or any Subsidiary, joint venture partner or other Person, for the purpose of financing activities of or with any Person or any country or territory that, at the time
of such financing, is the subject of any OFAC sanctions. 
 SECTION 3.16. FCPA. No part of the proceeds of the Loans will
be authorized for use, directly or indirectly, for any payments to any officer or employee of a government, or government-controlled entity, political party, official of a political party, candidate for political office, or anyone else acting in an
official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the FCPA. 

ARTICLE IV 

Conditions 
 SECTION 4.01. Effective Date. The obligations of the Lenders to make 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 9.02): 
 (a) The Administrative
Agent (or its counsel) shall have received (i) from each party hereto either (A) a counterpart of this Agreement signed on behalf of such party or (B) written evidence satisfactory to the Administrative Agent (which may include
telecopy or electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement and (ii) duly executed copies of the Loan Documents and such other legal opinions, certificates,
documents, instruments and agreements as the Administrative Agent shall reasonably request in connection with the Transactions, all in form and substance satisfactory to the Administrative Agent and its counsel and as further described in the list
of closing documents attached as Exhibit E. 

  
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 (b) The Administrative Agent shall have received a favorable written opinion
(addressed to the Administrative Agent and the Lenders and dated the Effective Date) of Snell & Wilmer L.L.P., counsel for the Loan Parties, substantially in the form of Exhibit B, and covering such other matters relating to the Loan
Parties, the Loan Documents or the Transactions as the Administrative Agent shall reasonably request. Holdings hereby requests such counsel to deliver such opinion. 

(c) The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its
counsel may reasonably request relating to the organization, existence and good standing of the initial Loan Parties, the authorization of the Transactions and any other legal matters relating to such Loan Parties, the Loan Documents or the
Transactions, all in form and substance satisfactory to the Administrative Agent and its counsel and as further described in the list of closing documents attached as Exhibit E. 

(d) The Administrative Agent shall have received a certificate, dated the Effective Date and signed by the President, a
Vice President or a Financial Officer of Holdings, confirming compliance with the conditions set forth in paragraphs (a) and (b) of Section 4.02. 
 (e) The Administrative Agent shall have received evidence reasonably satisfactory to it that all governmental and third party approvals necessary or, in the discretion of the Administrative Agent,
advisable in connection with the Transactions have been obtained and are in full force and effect. 
 (f) The
Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Effective Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by
Holdings hereunder. 
 The Administrative Agent shall notify Holdings and the Lenders of the Effective Date, and such notice shall be conclusive
and binding. 
 SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any
Borrowing, 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) The representations and warranties of Holdings and the Borrower set forth in this Agreement shall be true and correct (i) in the case of the representations and warranties qualified by
materiality or Material Adverse Effect, in all respects and (ii) otherwise, in all material respects, in each 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, except in the case of any such representation and warranty that expressly relates to a prior date, in which case such representation and warranty shall be so true and correct on and as of such prior date. 

(b) 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. 
 Each Borrowing (other than
Borrowings at the election of the Administrative Agent) and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by each of Holdings and the Borrower on the date thereof as
to the matters specified in paragraphs (a) and (b) of this Section. 

  
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 ARTICLE V 
 Affirmative Covenants 
 Until the Commitments have expired or been
terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit shall have expired or terminated and all LC Disbursements shall have been reimbursed, each of Holdings
and the Borrower covenants and agrees with the Lenders that: 
 SECTION 5.01. Financial Statements and Other Information.
Holdings will furnish to the Administrative Agent for distribution to each Lender: 
 (a) promptly when available
and in any event within 90 days after the end of each fiscal year of Holdings, 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, all reported on by PricewaterhouseCoopers LLP or other independent public accountants of recognized national standing (without a “going concern” or like qualification
or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the consolidated financial condition and results of operations
of Holdings, the Borrower and the Subsidiaries on a consolidated basis in accordance with GAAP consistently applied; 
 (b) promptly when available and in any event within 45 days after the end of each of the first three fiscal quarters of each fiscal year of Holdings, its unaudited consolidated balance sheet and related
statements of operations 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 consolidated financial condition and results of operations of Holdings, the
Borrower and the Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes; 

(c) concurrently with any delivery of financial statements under paragraph (a) or (b) above, a certificate of a
Financial Officer of Holdings in the form of Exhibit H (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 6.12, (iii) stating whether any change in GAAP or in the application thereof has occurred since the
date of Holdings’ audited financial statements referred to in Section 3.04 and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such certificate and (iv) listing each
Subsidiary which has changed status from or to a Restricted Subsidiary, Unrestricted Subsidiary or Subsidiary Guarantor and identifying such Subsidiary as such as of the date of such certificate; 

(d) promptly when available and in any event within 60 days after the commencement of each fiscal year of Holdings, a
detailed consolidated budget for such fiscal year (including a projected consolidated balance sheet and related statements of projected operations and cash flow as of the end of and for such fiscal year and setting forth any material assumptions
used for purposes of preparing such budget); 

  
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 (e) promptly after the same become publicly available, copies of all
periodic and other reports, proxy statements and other materials filed by Holdings, the Borrower or any Subsidiary with the SEC, or any Governmental Authority succeeding to any or all of the functions of the SEC, or distributed by Holdings to its
public stockholders generally, as the case may be; 
 (f) concurrently with any delivery of financial statements
under paragraph (a) or (b) above, if there are any Unrestricted Subsidiaries at the time, the related consolidating financial statements reflecting the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries from such
consolidated financial statements; 
 (g) promptly following a request therefor, all documentation and other
information that a 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 Patriot Act; and 

(h) promptly following any request therefor, such other information regarding the operations, business affairs and
financial condition of Holdings, the Borrower or any Subsidiary, or compliance with the terms of any Loan Document, as the Administrative Agent or any Lender may reasonably request. 

Documents required to be delivered pursuant to paragraphs (a), (b) and (e) of this Section 5.01 may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date on which such documents are filed for public availability on the SEC’s Electronic Data Gathering and Retrieval System. Notwithstanding anything contained
herein, in every instance Holdings shall be required to provide paper copies of the compliance certificates required by paragraph (c) of this Section 5.01 to the Administrative Agent. 

SECTION 5.02. Notices of Material Events. Holdings and the Borrower will furnish to the Administrative Agent written notice of the
following promptly upon a President, a Vice President, a Financial Officer or General Counsel of Holdings or the Borrower obtaining knowledge thereof: 
 (a) the occurrence of any Default; 
 (b) the filing or commencement of any action,
suit or proceeding by or before any arbitrator or Governmental Authority against or affecting Holdings, the Borrower or any Restricted Subsidiary that 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 a Material Adverse Effect; 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 shall be accompanied by a statement of a Financial
Officer of Holdings or the Borrower, as the case may be, or other executive officer of Holdings or the Borrower, as the case may be, setting forth the details of the event or development requiring such notice and any action taken or proposed to be
taken with respect thereto. 
 SECTION 5.03. Existence; Conduct of Business. Each of Holdings and the Borrower will, and
will cause each of the Restricted Subsidiaries to, do or cause to be done all things necessary to 

  
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preserve, renew and keep in full force and effect its legal existence and the rights, contracts, licenses, permits, privileges, franchises, patents, copyrights, trademarks and trade names
material to the conduct of the business of the Borrower and the Restricted Subsidiaries, taken as a whole, provided that the foregoing shall not prohibit any Permitted Tax Restructuring or any other merger, consolidation, liquidation or
dissolution permitted under Section 6.03 or any sale of assets permitted under Section 6.05. 
 SECTION 5.04.
Payment of Taxes. Each of Holdings and the Borrower will, and will cause each of the Restricted Subsidiaries to, pay its Tax liabilities before the same shall become delinquent or in default, except where (a) the validity or amount
thereof is being contested in good faith by appropriate proceedings, (b) Holdings, the Borrower or such Restricted Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP, (c) such contest
effectively suspends collection of the contested obligation and the enforcement of any Lien securing such obligation and (d) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse
Effect. 
 SECTION 5.05. Maintenance of Properties; Insurance. Except in connection with a Permitted Tax Restructuring,
each of Holdings and the Borrower will, and will cause each of the Restricted Subsidiaries to, (a) keep and maintain all property material to the conduct of the business of Holdings, the Borrower and the Restricted Subsidiaries, taken as a
whole, in good working order and condition, ordinary wear and tear excepted, it being understood that this covenant only relates to the working order and condition of such properties and shall not be construed as a covenant not to dispose of such
properties, and (b) maintain, with financially sound and reputable insurance companies insurance in such amounts and against such risks as are customarily maintained by companies of established repute engaged in the same or similar businesses
operating in the same or similar locations. 
 SECTION 5.06. Books and Records; Inspection Rights. Each of Holdings and
the Borrower will, and will cause each of the Restricted Subsidiaries to, keep proper books of record and account in which full, true and correct entries are made of all material dealings and transactions in relation to its business and activities.
Each of Holdings and the Borrower will, and will cause each of the Restricted Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to
examine and make extracts from its books and records and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and at such reasonable intervals as may be reasonably requested.

 SECTION 5.07. Compliance with Laws. Each of Holdings and the Borrower will, and will cause each of the Subsidiaries
to, comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property (including, without limitation, 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 5.08. Use of Proceeds. The proceeds of the
Loans will be used only for general corporate purposes, including working capital and Permitted Acquisitions. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the
Regulations of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support obligations of the Borrower or any Restricted Subsidiary incurred for general corporate purposes. 

SECTION 5.09. Subsidiary Guaranty. As promptly as possible but in any event within thirty (30) days (or such later date as
may be agreed upon by the Administrative Agent) (i) after the 

  
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delivery of the financial statements referred to in Section 5.01(a), with respect to any Restricted Subsidiary that qualifies independently as, or is designated by Holdings or the
Administrative Agent as, a Subsidiary Guarantor pursuant to the definition of “Material Domestic Subsidiary” or (ii) after the date on which any Restricted Subsidiary qualifies independently as a Qualifying Subsidiary, Holdings shall
provide the Administrative Agent with written notice thereof setting forth information in reasonable detail describing the material assets of such Person and shall cause each such Subsidiary to deliver to the Administrative Agent a joinder to the
Subsidiary Guaranty (in the form contemplated thereby), pursuant to which such Subsidiary agrees to be bound by the terms and provisions thereof, such Subsidiary Guaranty to be accompanied by appropriate corporate resolutions, other corporate
documentation and legal opinions in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 

SECTION 5.10. Pledge Agreements. Holdings shall execute or cause to be executed, by no later than sixty (60) days (or such
later date as is required to obtain required governmental consents or approvals provided that Holdings is diligently pursuing such consents or approvals or as is otherwise agreed to by the Administrative Agent in its reasonable discretion) after the
date on which any Person becomes a Domestic Subsidiary or which any Subsidiary that is a First Tier Foreign Subsidiary would qualify as a Material Foreign Subsidiary, a Pledge Agreement in favor of the Administrative Agent for the benefit of the
Secured Parties with respect to, (x) in the case of a Domestic Subsidiary (including, for purposes of this Section 5.10, the Borrower), 100% of all of the outstanding Equity Interests of such Pledge Subsidiary and (y) in the case of a
Material Foreign Subsidiary, 65% of all of the outstanding Equity Interests of such Pledge Subsidiary; provided that (i) no such pledge of the Equity Interests of the China JV shall be required hereunder and (ii) no such pledge of
the Equity Interests of a Pledge Subsidiary that is a First Tier Foreign Subsidiary shall be required hereunder to the extent the Administrative Agent and its counsel reasonably determine that, in light of the cost and expense associated therewith,
such pledge would not provide material Pledged Equity for the benefit of the Secured Parties pursuant to legally binding, valid and enforceable Pledge Agreements. Holdings and the Borrower further agree to deliver to the Administrative Agent all
such Pledge Agreements, together with appropriate corporate resolutions and other documentation (including legal opinions, the stock certificates representing the Equity Interests subject to such pledge, stock powers with respect thereto executed in
blank, and such other documents as shall be reasonably requested to perfect the Lien of such pledge) in each case in form and substance reasonably satisfactory to the Administrative Agent, and in a manner that the Administrative Agent shall be
reasonably satisfied that it has a first priority perfected pledge of or charge over the Pledged Equity related thereto. Notwithstanding the foregoing, the parties hereto acknowledge and agree that no Pledge Agreement in respect of the pledge of
Equity Interests of a Pledge Subsidiary that is a First Tier Foreign Subsidiary shall be required until the date that occurs sixty (60) days after the Effective Date or the date on which a Subsidiary becomes a Pledge Subsidiary (or such later
date as is required to obtain required governmental consents or approvals provided that Holdings is diligently pursuing such consents or approvals or as is otherwise agreed to by the Administrative Agent in its reasonable discretion). 

ARTICLE VI 

Negative Covenants 
 Until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder have been paid in full and all Letters of Credit have expired or terminated
and all LC Disbursements shall have been reimbursed, each of Holdings and the Borrower covenants and agrees with the Lenders that: 

  
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 SECTION 6.01. Indebtedness. (a) The Borrower will not, and will not permit any
Restricted Subsidiary to, create, incur, assume or permit to exist any Indebtedness, except: 
 (i) the
Obligations; 
 (ii) Indebtedness existing on the Effective Date and set forth in Schedule 6.01 to the
Disclosure Letter and extensions, renewals, refinancings and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (other than by the amount of any fees or expenses incurred in the extensions, renewals,
refinancings and replacements thereof) or result in an earlier maturity date; 
 (iii) Indebtedness of the
Borrower to Holdings or any Restricted Subsidiary and of any Restricted Subsidiary to Holdings, the Borrower or any other Restricted Subsidiary, in each case subject to Section 6.04; 

(iv) Guarantees by the Borrower and by any Restricted Subsidiary of Indebtedness of Holdings, the Borrower or any other
Restricted Subsidiary; 
 (v) Indebtedness of the Borrower or any Restricted Subsidiary in respect of
workers’ compensation claims, self-insurance obligations, performance bonds, surety, appeal or similar bonds and completion or other financial guarantees provided by the Borrower and the Restricted Subsidiaries in the ordinary course of their
business, provided that upon the incurrence of Indebtedness with respect to reimbursement type obligations regarding workers’ compensation claims, such obligations are reimbursed within 30 days following such drawing or incurrence;

 (vi) Indebtedness of the Borrower or any Restricted Subsidiary incurred to finance the acquisition,
construction or improvement of any fixed or capital assets, including Capital Lease Obligations (provided that such Indebtedness is incurred prior to or within 180 days after such acquisition or the completion of such construction or
improvement); provided that the aggregate principal amount of Indebtedness permitted by this clause (vi) shall not exceed $50,000,000 at any time outstanding; 

(vii) Indebtedness of the China JV and other Restricted Subsidiaries, and Guarantees of obligations of Unrestricted
Subsidiaries and other Persons not constituting Subsidiaries, in an aggregate principal amount not to exceed the greater of (x) $300,000,000 and (y) 15% of Consolidated Net Worth (immediately after giving effect to the incurrence of such
Indebtedness); provided that not more than $50,000,000 of such Indebtedness is secured by assets located in the United States of America; 
 (viii) Indebtedness of any Person that becomes a Restricted Subsidiary or is merged into or consolidated with the Borrower or any Restricted Subsidiary or any Indebtedness assumed in connection with the
acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and extensions, renewals, refinancings and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof
(other than by the amount of any fees or expenses incurred in the refinancing thereof); provided that such Indebtedness exists at the time such Person becomes a Restricted Subsidiary and is not created in contemplation of or in connection
with such Person becoming a Restricted Subsidiary; 
 (ix) reimbursement obligations (contingent or otherwise) in
respect of letters of credit issued to support obligations of the Borrower or any Restricted Subsidiary incurred in the 

  
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ordinary course of business; provided that (A) the aggregate amount of such letters of credit and reimbursement obligations shall not exceed $40,000,000 at any time and (B) such
obligations may only be secured to the extent permitted by clause (v) of Section 6.02(a); 
 (x)
Indebtedness in an aggregate principal amount not exceeding $25,000,000 at any time outstanding; provided that the aggregate outstanding principal amount of such Indebtedness that is secured by any assets of the Borrower or any Restricted
Subsidiary shall not exceed $10,000,000; 
 (xi) the Permitted Convertible Notes; 

(xii) Permitted Unsecured Indebtedness; 
 (xiii) customer deposits and advance payments received in the ordinary course of business from customers for goods or services purchased in the ordinary course of business; 

(xiv) Indebtedness consisting of (i) the financing of insurance premiums or (ii) take-or-pay obligations contained in supply,
service or similar agreements, in each case incurred in the ordinary course of business; 
 (xv) customary indemnification
obligations pursuant to factoring or similar arrangements permitted pursuant to clause (xi) of Section 6.02(a); and 

(xvi) Indebtedness under interest rate, commodities and foreign currency exchange protection agreements entered into in the ordinary
course of business to manage existing or anticipated risks and not for speculative purposes; 
 (b) Holdings will not create,
incur, assume or permit to exist any Indebtedness except (i) Indebtedness created under the Loan Documents or created under the Permitted Convertible Notes, (ii) Indebtedness permitted under clause (a)(ii) or (a)(xii) of this
Section 6.01, (iii) Guarantees by Holdings of Indebtedness of the Borrower and the Restricted Subsidiaries permitted hereby and (iv) Guarantees by Holdings to lenders to direct and indirect Subsidiaries. 

(c) Neither Holdings nor the Borrower will permit any Designated IP Subsidiary to create, incur, assume or permit to exist any
Indebtedness (regardless of whether permitted under paragraph (a) of this Section 6.01) other than Indebtedness of the Designated IP Subsidiary owed to Holdings, the Borrower or a Restricted Subsidiary that is otherwise permitted by this
Agreement. 
 SECTION 6.02. Liens. (a) The Borrower will not, and will not permit any Restricted Subsidiary to,
create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except: 

(i) Permitted Encumbrances and Liens created under this Agreement and the Pledge Agreements; 

(ii) any Lien on any property or asset of the Borrower or any Restricted Subsidiary existing on the Effective Date and set
forth in Schedule 6.02 to the Disclosure Letter, provided that (A) such Lien shall not apply to any other property or asset of the Borrower or any Restricted Subsidiary and (B) such Lien shall secure only those obligations
that it secures on the Effective 

  
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Date and extensions, renewals, refinancings and replacements thereof that do not increase the outstanding principal amount thereof (other than by the amount of any fees or expenses incurred in
the extensions, renewals, refinancings and replacements thereof); 
 (iii) any Lien existing on any property or
asset prior to the acquisition thereof by the Borrower or any Restricted Subsidiary or existing on any property or asset of any Person that becomes a Restricted Subsidiary after the Effective Date prior to the time such Person becomes a Restricted
Subsidiary, provided that (A) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Restricted Subsidiary, as the case may be, (B) such Lien shall not apply to any other
property or assets of the Borrower or any Restricted Subsidiary and (C) such Lien shall secure only those obligations that it secures on the date of such acquisition or the date such Person becomes a Restricted Subsidiary, as the case may be,
and extensions, renewals, refinancings and replacements thereof that do not increase the outstanding principal amount thereof (other than by the amount of any fees or expenses incurred in the extensions, renewals, refinancings and replacements
thereof); 
 (iv) Liens on fixed or capital assets acquired, constructed or improved by the Borrower or any
Restricted Subsidiary; provided that (A) such Liens secure Indebtedness permitted by clause (vi) of Section 6.01(a), (B) such security interests and the Indebtedness secured thereby are incurred prior to or within 180 days
after such acquisition or the completion of such construction or improvement, (C) the Indebtedness secured thereby does not exceed 100% of the cost of acquiring, constructing or improving such fixed capital assets and (D) such security
interests shall not apply to any other property or assets of the Borrower or any Restricted Subsidiary; 
 (v)
Liens on specified bank accounts and cash deposits of Holdings, the Borrower or any Restricted Subsidiary used to secure reimbursement obligations of Holdings, the Borrower or such Restricted Subsidiary in respect of letters of credit and similar
arrangements for collateral security with respect to refinancings or replacements of the same; provided that the amounts in such specified bank accounts and the amount of such cash deposits, other than cash deposits securing letters of credit
under defaulting lender provisions in credit or reimbursement facilities, shall not exceed an aggregate outstanding amount of $10,000,000; 
 (vi) Liens, including anti-assignment provisions, in favor of a landlord on leases and leasehold improvements with respect to leased premises and Liens on cash and other assets securing performance
thereunder; 
 (vii) Liens representing the interest or title of a lessor, licensor, sublicensor or sublessor;

 (viii) Liens securing Indebtedness permitted under, and subject to the Lien limitations in, clause
(vii) of Section 6.01(a); 
 (ix) Liens securing any sale and leaseback transactions permitted by
Section 6.11; 
 (x) any encumbrance or restriction with respect to the transfer of the Equity Interests in
any joint venture or similar arrangement pursuant to the terms thereof; 
 (xi) Liens on accounts receivable
securing factoring, sales, pledges, assignments, transfers or other dispositions of such accounts receivable in the ordinary course of business (and to the extent such transaction is permitted under Section 6.05(j)) as part of any accounts
receivable financing transaction; and 

  
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 (xii) Liens on assets of the Borrower and the Restricted Subsidiaries not
otherwise permitted above so long as the aggregate principal amount of the Indebtedness and other obligations subject to such Liens does not at any time exceed $10,000,000. 
 (b) Holdings will not create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts
receivable) or rights in respect thereof, except Liens created under the Pledge Agreements and Permitted Encumbrances. 

SECTION 6.03. Fundamental Changes. (a) Neither Holdings nor the Borrower will, nor will they permit any Restricted Subsidiary
to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, except that, if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing:

 (i) any Person may merge into Holdings or the Borrower in a transaction in which Holdings or the Borrower, as
the case may be, is the surviving entity; 
 (ii) any Restricted Subsidiary or Unrestricted Subsidiary may merge
into a Restricted Subsidiary in a transaction in which the surviving entity is a Restricted Subsidiary; 
 (iii)
any Restricted Subsidiary may liquidate or dissolve if Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower and is not materially disadvantageous to the Lenders and may liquidate or dissolve
to facilitate internal reorganizations (including Permitted Tax Restructurings); and 
 (iv) the Borrower and its
Subsidiaries may consummate Permitted Acquisitions. 
 (b) Neither Holdings nor the Borrower will, nor will they permit any of
the Restricted Subsidiaries to, engage to any material extent in any business other than businesses of the type conducted by the Borrower and the Restricted Subsidiaries on the Effective Date and businesses reasonably related thereto or useful in
the operation of the businesses of the Borrower and the Restricted Subsidiaries. 
 (c) Neither Holdings nor the Borrower will,
nor will they permit any of the Restricted Subsidiaries to, change its fiscal year from the basis in effect on the Effective Date, other than changes to the fiscal year of any acquired Restricted Subsidiary for the purposes of synchronizing such
fiscal year with the fiscal year of Holdings and the Borrower. 
 (d) Except in connection with a Permitted Tax Restructuring,
(i) Holdings will not engage in any business or activity other than the ownership of all the outstanding shares of capital stock of the Borrower and the Foreign Holding Companies, incurring Indebtedness permitted hereby, incurring the Permitted
Convertible Notes, issuing Equity Interests and activities incidental thereto; (ii) Holdings will not own or acquire any assets (other than shares of capital stock of the Borrower, shares of capital stock of the Foreign Holding Companies, cash
and Permitted Investments) or incur any liabilities (other than liabilities under the Loan Documents, Guarantees by Holdings of obligations of the Borrower and the Restricted Subsidiaries under leases of real property and other agreements,
Indebtedness permitted hereby, the Permitted Convertible Notes, obligations under any stock option plans or other benefit plans for management, directors, consultants or employees of Holdings, the Borrower and the Restricted Subsidiaries,
liabilities imposed by law, including tax liabilities, and other liabilities incidental to its existence and permitted business and activities). Notwithstanding the foregoing two sentences, Holdings may acquire Equity Interests in another Person in
exchange solely for common stock of Holdings. 

  
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 SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions. The Borrower
will not, and will not permit any of the Restricted Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Restricted Subsidiary prior to such merger) any Equity Interests in or
evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any
investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: 

(a) Permitted Investments; 
 (b) investments existing on the Effective Date and set forth on Schedule 6.04 to the Disclosure Letter; 
 (c) investments by the Borrower and the Restricted Subsidiaries in Equity Interests in Borrower or any Restricted Subsidiary and investments by Unrestricted Subsidiaries in Equity Interests of Borrower or
any Restricted Subsidiary; 
 (d) loans or advances made by the Borrower or any Restricted Subsidiary to Borrower or any
Restricted Subsidiary and made by any Unrestricted Subsidiary to Holdings, the Borrower or any Restricted Subsidiary; 
 (e)
Guarantees of Indebtedness permitted under Section 6.01 and Guarantees of Permitted Convertible Notes made in compliance with the definition of Permitted Convertible Notes; 

(f) 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; 
 (g) Permitted Acquisitions; 

(h) any investments in or loans to any other Person received as noncash consideration for sales, transfers, leases and other dispositions
permitted by Section 6.03 or 6.05; 
 (i) Guarantees and indemnities by the Borrower and the Restricted Subsidiaries of
leases and other agreements entered into by any Restricted Subsidiary; 
 (j) extensions of credit in the nature of accounts
receivable or notes receivable in the ordinary course of business; 
 (k) investments in payroll, travel and similar advances to
cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business; 
 (l) loans or advances to employees made in the ordinary course of business consistent with prudent business practice and not exceeding $10,000,000 in the aggregate outstanding at any one time; 

  
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 (m) investments in or acquisitions of stock, obligations or securities received in
settlement of debts created in the ordinary course of business and owing to the Borrower or any Restricted Subsidiary or in satisfaction of judgments; 
 (n) investments in the form of Swap Agreements permitted under Section 6.06; 

(o) investments, loans, advances, guarantees and acquisitions resulting from a foreclosure by the Borrower or any Restricted Subsidiary
with respect to any secured investment or other transfer of title with respect to any secured investment in default; 
 (p)
investments, loans, advances, guarantees and acquisitions the consideration for which consists solely of shares of common stock of Holdings; 
 (q) the licensing from other Persons by the Borrower and the Restricted Subsidiaries of intellectual property in accordance with normal industry practice; provided that if such licensing involves
the effective acquisition of any business of another Person it must be otherwise permitted by this Section 6.04; 
 (r)
exchanges of Permitted Convertible Notes, whether or not pursuant to such Permitted Convertible Notes; and 
 (s) any other
investment, loan or advance (other than acquisitions) so long as the aggregate amount of all such investments, loans and advances does not exceed $50,000,000 during the term of this Agreement. 

SECTION 6.05. Asset Sales. The Borrower will not, and will not permit any of the Restricted Subsidiaries to, sell, transfer, lease
or otherwise dispose of any asset, including any Equity Interest owned by it, nor will the Borrower permit any of the Restricted Subsidiaries to issue any additional Equity Interest in such Restricted Subsidiary, except: 

(a) (i) sales, leases, transfers or other dispositions of inventory, used or surplus equipment and Permitted Investments in the ordinary
course of business, (ii) non-cash sales or exchanges of surplus or fully-depreciated equipment in the ordinary course of business and (iii) the periodic clearance and disposal of obsolete or worn out property, including involuntary loss,
damage or destruction of property, and (iv) licenses of technology in the ordinary course of business; 
 (b) sales,
leases, transfers or other dispositions to the Borrower or a Restricted Subsidiary, provided that any such sales, transfers or dispositions to an Unrestricted Subsidiary shall be made in compliance with Section 6.07; 

(c) sales, leases, transfers or other dispositions of assets (other than Equity Interests in a Subsidiary) that are not permitted by any
other clause of this Section, provided that the aggregate fair market value of all assets sold, transferred or otherwise disposed of by Restricted Subsidiaries in reliance upon this clause (c) shall not exceed $50,000,000 during any
fiscal year of the Borrower; 
 (d) sale and leaseback transactions permitted by Section 6.11; 

(e) sales, leases, transfers or other dispositions of property, plant and equipment located at any of the manufacturing sites listed in
Schedule 6.05(e) to the Disclosure Letter; 

  
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 (f) leases of property, plant and equipment for fair market value; 

(g) sales, leases, transfers or other dispositions of assets acquired pursuant to a Permitted Acquisition that in the reasonable judgment
of the Borrower’s management are not necessary or desirable to carry out the Borrower’s business plans, to the extent binding agreements or letters of intent providing for such sales, transfers or other dispositions are entered into within
12 months after the acquisition of such assets; 
 (h) the licensing by the Borrower and the Restricted Subsidiaries of
intellectual property to other Persons, in accordance with normal industry practice; provided that if such licensing involves the effective transfer or conveyance of any division of the Borrower or any Restricted Subsidiary utilizing such
intellectual property it must be otherwise permitted by this Section 6.05; 
 (i) sales and other assignments, transfers or
other dispositions of accounts receivable in connection with the compromise or collection thereof; 
 (j) factoring, sales and
other assignments, transfers or other dispositions of accounts receivable of any Foreign Subsidiary in the ordinary course of business as part of any accounts receivable financing transaction in an aggregate amount not to exceed $50,000,000 during
any fiscal year of the Borrower; and 
 (k) sales, leases, transfers or other dispositions by the Borrower and the Restricted
Subsidiaries of intellectual property to other Persons, in accordance with normal industry practice; provided that such sales in reliance upon this clause (k) shall not exceed $35,000,000 during any fiscal year of the Borrower or
applicable Restricted Subsidiary; 
 provided that, except with respect to sales of property, plant and equipment listed in Schedule
6.05(e) to the Disclosure Letter and to the extent set forth on Schedule 6.05(e) to the Disclosure Letter, all sales, transfers, leases and other dispositions permitted hereby shall be made for fair value (other than those permitted by
clause (b) above) and for consideration of at least 75% cash or cash equivalents (other than those permitted by clauses (a)(ii) and (b) above) and (ii) a Designated IP Subsidiary shall not make sales, transfers or other dispositions
other than pursuant to clauses (a), (b), (f), (h) or (k) above. The foregoing cash or cash equivalents requirement shall not be deemed to preclude agreements which provide for periodic payments, such as (and without limitation) licenses,
leases and sale and leaseback transactions. 
 SECTION 6.06. Swap Agreements. Neither Holdings nor the Borrower will, nor
will they permit any of the Restricted Subsidiaries to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks to which the Borrower or any Restricted Subsidiary has actual exposure (other than those
in respect of Equity Interests of the Borrower or any Restricted Subsidiaries), (b) Swap Agreements entered into in order to effectively cap, collar, currency exchange or exchange interest rates (from fixed to floating rates, from one floating
rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of the Borrower or any Restricted Subsidiary and (c) each of Holdings and the Borrower may enter into, and perform its respective
obligations under, Permitted Call Spread Swap Agreements. 
 SECTION 6.07. Transactions with Affiliates. Neither Holdings
nor the Borrower will, nor will they permit any Restricted Subsidiary to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions
with, any of its Affiliates, except (a) transactions that are at prices and on terms and conditions not less favorable to the Borrower or such Restricted Subsidiary than could be obtained on an 

  
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arm’s-length basis from unrelated third parties, (b) transactions between or among Holdings, the Borrower and the Restricted Subsidiaries, (c) any issuance of securities, or other
payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment arrangements, stock options and stock ownership or other employee benefit plans or programs approved by the board of directors of Holdings
(including an authorized committee thereof), (d) the grant of stock options, restricted stock, other stock-based awards or similar rights to officers, employees, consultants and directors of Holdings pursuant to plans approved by the board of
directors of Holdings (including an authorized committee thereof) and the payment of amounts or the issuance of securities pursuant thereto, (e) loans or advances to employees in the ordinary course of business consistent with prudent business
practice, but in any event not to exceed $10,000,000 in the aggregate outstanding at any one time and (f) any Restricted Payment permitted by Section 6.08. 
 SECTION 6.08. Restricted Payments. Neither Holdings nor the Borrower will, nor will they permit any Restricted Subsidiary to, declare or make, or agree to pay or make, directly or indirectly, any
Restricted Payment, except that (i) Holdings may declare and pay dividends with respect to its capital stock payable solely in additional shares of its capital stock, (ii) Restricted Subsidiaries may declare and pay dividends ratably with
respect to their Equity Interests, (iii) Holdings may make Restricted Payments, not exceeding $15,000,000 during any fiscal year, pursuant to and in accordance with stock option plans or other benefit plans for management, directors,
consultants or employees of Holdings, the Borrower and the Restricted Subsidiaries, including the redemption or purchase of capital stock of Holdings held by former directors, management, consultants or employees of Holdings, the Borrower or any
Restricted Subsidiary following termination of their employment, (iv) the Borrower may pay dividends to Holdings at such times and in such amounts, not exceeding $7,500,000 during any fiscal year, as shall be necessary to permit Holdings to
discharge its permitted liabilities, (v) Restricted Payments may be made in the form of capital stock issued by Holdings, (vi) each of Holdings and the Borrower may enter into, exercise its respective rights and perform its respective
obligations under Permitted Call Spread Swap Agreements, (vii) Holdings and the Borrower may make deliveries of shares of its common stock upon conversion of Permitted Convertible Notes pursuant to the terms thereof, (viii) Holdings and
the Borrower may make interest payments in respect of Indebtedness under Permitted Convertible Notes and (ix) other Restricted Payments may be made so long as prior to making any such Restricted Payment, and after giving effect thereto
(including on a pro forma basis), (A) no Default or Event of Default shall exist and (B) the Senior Leverage Ratio does not exceed 2.50 to 1.00. 
 SECTION 6.09. Restrictive Agreements. Neither Holdings nor the Borrower will, nor will they permit any Restricted Subsidiary to, directly or indirectly, enter into, incur or permit to exist any
agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of Holdings, the Borrower or any Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets, or
(b) the ability of any Restricted Subsidiary to pay dividends or other distributions with respect to holders of its Equity Interests or to make or repay loans or advances to the Borrower or any other Restricted Subsidiary or to Guarantee
Indebtedness of the Borrower or any other Restricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by law or by any Loan Document, (ii) the foregoing shall not apply to
restrictions and conditions existing on the Effective Date identified on Schedule 6.09 to the Disclosure Letter (but shall apply to any extension or renewal of, or any amendment or modification if it expands the scope of, any such restriction
or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Restricted Subsidiary pending such sale, provided such restrictions and conditions apply only to the
Restricted Subsidiary that is to be sold and such sale is permitted hereunder, (iv) the foregoing shall not apply to restrictions and conditions contained in agreements of any Person that becomes a Restricted Subsidiary or is merged into or
consolidated with the Borrower or any Restricted Subsidiary or agreements assumed from any Person in connection with the acquisition of assets 

  
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by the Borrower or any Restricted Subsidiary of such Person after the date hereof, provided that such agreements exist at the time such Person becomes a Restricted Subsidiary or such agreements
are assumed and in each case are not created in contemplation of or in connection with such Person becoming a Restricted Subsidiary or the agreements being assumed; (v) clause (a) of the foregoing shall not apply to restrictions or
conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness, (vi) clause (a) of the foregoing shall not
apply to customary provisions in leases and other agreements restricting the assignment thereof or any interest therein, (vii) clause (a) of the foregoing shall not apply to customary negative pledge clauses and restrictions on the ability
of Holdings, the Borrower or any Subsidiary to Guarantee Indebtedness; provided that such restrictions do not limit the ability of the Obligations under this Agreement to be Guaranteed or to be secured by any Lien on any of the properties or
assets of Holdings, the Borrower or any Restricted Subsidiary (including without limitation pursuant to the Subsidiary Guaranty and Pledge Agreements), (viii) the foregoing restrictions shall not apply to customary restrictions and conditions
imposed by agreements relating to Indebtedness of a Foreign Subsidiary permitted under Section 6.01(a) so long as (A) such restrictions and conditions only apply to such Foreign Subsidiary and its subsidiaries and (B) the aggregate
principal amount of all such Indebtedness of all Foreign Subsidiaries covered by this clause (viii) does not exceed $125,000,000 and (ix) clause (a) of the foregoing shall not apply to customary restrictions or conditions imposed by a
foreign government or any political subdivision of any foreign government or any public instrumentality thereof in connection with the transfer or disposition of assets. 
 SECTION 6.10. Subordinated Indebtedness and Amendments to Subordinated Indebtedness Documents. Neither Holdings nor the Borrower will nor will they permit any Restricted Subsidiary to, directly or
indirectly voluntarily prepay, defease or in substance defease, purchase, redeem, retire or otherwise acquire, any Subordinated Indebtedness or any Indebtedness from time to time outstanding under the Subordinated Indebtedness Documents;
provided that any such prepayment, defeasance, purchase, redemption, retirement or acquisition may be made so long as prior thereto, and after giving effect thereto (including on a pro forma basis), (A) no Default or Event of Default
shall exist and (B) the Senior Leverage Ratio does not exceed 2.50 to 1.00. Furthermore, neither Holdings nor the Borrower will, nor will they permit any Restricted Subsidiary to, amend the Subordinated Indebtedness Documents or any document,
agreement or instrument evidencing any Indebtedness incurred pursuant to the Subordinated Indebtedness Documents (or any replacements, substitutions, extensions or renewals thereof) or pursuant to which such Indebtedness is issued where such
amendment, modification or supplement amends, modifies or adds any provisions thereof in a manner which, when taken as a whole, are (i) materially adverse to Holdings, the Borrower and the Restricted Subsidiary and/or the Lenders or
(ii) more onerous in any material respect than the existing applicable provisions in the Subordinated Indebtedness Documents or the applicable provisions set forth in this Agreement, in each case as determined by the board of directors
(including an authorized committee thereof) of Holdings for Holdings or as the sole member of the Borrower, as the case may be, in good faith. 
 SECTION 6.11. Sale and Leaseback Transactions. The Borrower will not, and will not permit any of the Restricted Subsidiaries to, enter into any arrangement, directly or indirectly, whereby it shall
sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or
purposes as the property sold or transferred, except for (a) any such sale of any fixed or capital assets that is made for cash consideration in an amount not less than the cost of such fixed or capital asset and is consummated within 180 days
after the Borrower or such Restricted Subsidiary acquires or completes the construction of such fixed or capital asset and (b) any such sales and leasebacks made after the Effective Date of real or personal property with an aggregate fair value
not to exceed $50,000,000 during any four consecutive quarter period. 

  
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 SECTION 6.12. Financial Covenants. 

(a) Maximum Total Leverage Ratio. Neither Holdings nor the Borrower will permit the ratio (the “Total Leverage
Ratio”), determined as of the end of each of its fiscal quarters ending on and after December 31, 2011, of (i) Consolidated Total Indebtedness to (ii) Consolidated EBITDA for the period of four (4) consecutive fiscal
quarters ending with the end of such fiscal quarter, all calculated for Holdings, the Borrower and the Restricted Subsidiaries on a consolidated basis, to be greater than 3.75 to 1.00. 

(b) Minimum Interest Coverage Ratio. Neither Holdings nor the Borrower will permit the ratio (the “Interest Coverage
Ratio”), determined as of the end of each of its fiscal quarters ending on and after December 31, 2011, of (i) Consolidated EBITDA to (ii) Consolidated Interest Expense paid or payable in cash, in each case for the period of
four (4) consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for Holdings, the Borrower and the Restricted Subsidiaries on a consolidated basis, to be less than 3.50 to 1.00. 

SECTION 6.13. Designation of Subsidiaries. The board of directors of Holdings may, at any time from and after the Effective Date,
designate any Restricted Subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provided that (i) immediately before and after such designation, no Default or Event of Default shall have
occurred and be continuing, (ii) immediately after giving effect to such designation, Holdings and the Borrower shall be in compliance with the covenants set forth in Section 6.12 on a pro forma basis, (iii) no Restricted Subsidiary
may be designated as an Unrestricted Subsidiary if it was previously designated as an Unrestricted Subsidiary and (iv) if a Restricted Subsidiary is being designated as an Unrestricted Subsidiary hereunder, such Restricted Subsidiary, together
with all other Unrestricted Subsidiaries as of such date of designation, must not have contributed greater than ten percent (10%) of Consolidated Total Assets (but, notwithstanding the definition of Consolidated Total Assets, calculated
inclusive of all Unrestricted Subsidiaries), as of the most recently ended fiscal quarter of the Holdings for which financial statements have been delivered pursuant to Section 5.01(a) (or, if prior to the date of the delivery of the first
financial statements to be delivered pursuant to Section 5.01(a), the most recent financial statements referred to in Section 3.04(a)(ii)). The designation of any Restricted Subsidiary as an Unrestricted Subsidiary after the Effective Date
shall constitute an Investment by Holdings, the Borrower or the applicable Restricted Subsidiary therein at the date of designation in an amount equal to the fair market value of Holdings’, the Borrower’s or the applicable Restricted
Subsidiary’s investment therein. None of Holdings, the Borrower or any Restricted Subsidiary shall at any time be directly or indirectly liable for any Indebtedness that provides the holder thereof may (with the passage of time or notice or
both) declare a default thereon or cause the payment thereof to be accelerated upon the occurrence of a default with respect to any Indebtedness, Lien or other obligation of an Unrestricted Subsidiary (including any right to take enforcement action
against such Unrestricted Subsidiary). The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute (i) the incurrence at the time of designation of any Investment, Indebtedness or Liens of such Subsidiary existing
at such time and (ii) a return on any Investment by Holdings, the Borrower or the applicable Restricted Subsidiary in Unrestricted Subsidiaries pursuant to the preceding sentence in an amount equal to the fair market value at the date of such
designation of Holdings’, the Borrower’s or such Restricted Subsidiary’s Investment in such Subsidiary. Notwithstanding the foregoing, neither the Borrower nor any Designated IP Subsidiary shall be permitted to be an Unrestricted
Subsidiary. 

  
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 ARTICLE VII 
 Events of Default 
 SECTION 7.01. Events of Default. If any of the
following events (“Events of Default”) shall occur: 
 (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, whether at the due date thereof or at a date fixed for prepayment thereof 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 clause
(a) of this Section 7.01) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five (5) Business Days; 

(c) any representation or warranty made or deemed made by or on behalf of Holdings, the Borrower or any Restricted Subsidiary in or in
connection with any Loan Document or any amendment or modification thereof or waiver thereunder, or in any certificate 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) Holdings or the Borrower
shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02, 5.03 (with respect to the existence of Holdings or the Borrower), 5.08, 5.09 or 5.10 or in Article VI; 

(e) any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in any Loan Document (other than those
specified in clause (a), (b) or (d) of this Section 7.01), and such failure shall continue unremedied for a period of 30 days after notice thereof from the Administrative Agent to the Borrower (which notice will be given at the
request of any Lender); 
 (f) Holdings, the Borrower or any Restricted 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 grace or similar period with respect thereto; 

(g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables
or permits the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its
scheduled maturity, provided that this clause (g) shall not apply to (i) any secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness, (ii) any
requirement to make a cash payment as a result of the early termination of a Permitted Call Spread Swap Agreement and (iii) any requirement to deliver cash upon conversion of Permitted Convertible Notes; 

(h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization
or other relief in respect of Holdings, the Borrower or, subject to Section 7.02, any Restricted Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or
similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for 

  
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Holdings, the Borrower or, subject to Section 7.02, any Restricted Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue
undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 
 (i) Holdings, the
Borrower or, subject to Section 7.02, any Restricted Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy,
insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Section 7.01,
(iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for Holdings, the Borrower or, subject to Section 7.02, any Restricted 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) Holdings, the Borrower or, subject to Section 7.02, any Restricted Subsidiary, shall become
unable, admit in writing its inability or fail generally to pay its debts as they become due; 
 (k) one or more judgments for
the payment of money in an aggregate amount in excess of $50,000,000 (net of amounts covered by insurance as to which the insurer has not denied coverage) shall be rendered against Holdings, the Borrower, any Restricted Subsidiary or any combination
thereof and the same shall remain undischarged for a period of 30 consecutive days during which execution shall not be effectively stayed or appealed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of
Holdings, the Borrower or any Restricted Subsidiary to enforce any such judgment; 
 (l) an ERISA Event shall have occurred
that, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in a Material Adverse Effect; 
 (m) any security interest purported to be created under any Pledge Agreement shall cease to be, or shall be asserted by any Loan Party not to be, a valid and perfected first priority security interest in
Pledged Equity having, in the aggregate, a value in excess of $10,000,000, except (i) as a result of the sale or other disposition of the applicable Pledged Equity in a transaction permitted under the Loan Documents, (ii) any action taken
by the Administrative Agent to release any such security interest in compliance with the provisions of this Agreement or any other Loan Document or (iii) as a result of the Administrative Agent’s failure to maintain possession of any stock
certificates or other instruments delivered to it under a Pledge Agreement; 
 (n) the Subsidiary Guaranty or the guaranty under
Article X, 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 the Obligations, 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 the Subsidiary Guaranty or such guaranty; or any Loan Party denies that it has any or further liability or obligation under the Subsidiary Guaranty or such guaranty, or purports
to revoke, terminate or rescind the Subsidiary Guaranty or such guaranty; or 
 (o) a Change in Control shall occur; 

then, and in every such event (other than an event with respect to Holdings or the Borrower described in clause (h) or (i) of this Article),
and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to Holdings, take 

  
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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
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 Holdings and the Borrower accrued hereunder and under the other Loan Documents, shall become due and payable immediately, without presentment, demand, protest
or other notice of any kind, all of which are hereby waived by Holdings and the Borrower; and in case of any event with respect to Holdings or the Borrower described in clause (h) or (i) of this Article, the Commitments shall automatically
terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other Obligations accrued hereunder and under the other Loan Documents, shall automatically become due and payable, without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by Holdings and the Borrower. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, and at the request of the
Required Lenders shall, exercise any rights and remedies provided to the Administrative Agent under the Loan Documents or at law or equity. 

If any proceeds of Pledged Equity are received by the Administrative Agent after an Event of Default has occurred and is continuing and the
Administrative Agent so elects or the Required Lenders so direct, such funds shall be applied ratably first, to pay any fees, indemnities, or expense reimbursements including amounts then due to the Administrative Agent and the Issuing Bank,
each in their respective capacities as such, from Holdings and the Borrower, second, to pay any fees or expense reimbursements then due to the Lenders from Holdings and the Borrower, third, to pay interest then due and payable on the
Loans ratably, fourth, to prepay principal on the Loans and unreimbursed LC Disbursements and any other amounts owing with respect to Banking Services Obligations and Swap Obligations ratably, fifth, to pay an amount to the
Administrative Agent equal to one hundred five percent (105%) of the aggregate undrawn face amount of all outstanding Letters of Credit and the aggregate amount of any unpaid LC Disbursements, to be held as cash collateral for such Obligations
and sixth, to the payment of any other Obligation due to the Administrative Agent or any Lender by Holdings or the Borrower. The Administrative Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and
reapply any and all such proceeds and payments to any portion of the Obligations. 
 SECTION 7.02. Exclusion of Immaterial
Subsidiaries. Solely for the purposes of determining whether a Default has occurred under clause (h), (i) or (j) of Section 7.01, any reference in any such clause to any “Restricted Subsidiary” shall be deemed not to
include any Restricted Subsidiary affected by any event or circumstance referred to in any such clause that did not, as of the last day of the fiscal quarter of Holdings most recently ended, have assets with a value in excess of 5.0% of Consolidated
Total Assets as of such date, provided that if it is necessary to exclude more than one Restricted Subsidiary from clause (h), (i) or (j) of Section 7.01 pursuant to this Section in order to avoid a Default thereunder, all
excluded Restricted Subsidiaries shall be considered to be a single consolidated Restricted Subsidiary for purposes of determining whether the condition specified above is satisfied. 

ARTICLE VIII 

The Administrative Agent 
 Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent as its agent and authorizes the Administrative Agent to take such actions on its behalf, including execution
of the other Loan Documents, and to exercise such powers as are delegated to the Administrative Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. 

  
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 The bank serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with
Holdings, the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent hereunder. 
 The
Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other
implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise in writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as
provided in Section 9.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to
Holdings, the Borrower or any of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not
taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02) or in the absence of its own gross negligence
or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by Holdings, the Borrower or a Lender, and the Administrative Agent
shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document
delivered hereunder or in connection with any Loan Document, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability,
effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, (v) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items
expressly required to be delivered to the Administrative Agent or (vi) the creation, perfection or priority of Liens on the Pledged Equity or the existence of the Pledged Equity. 

The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request,
certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel (who may be counsel for Holdings), 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. 
 The Administrative Agent may perform any and all of its duties and exercise its rights and powers 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 through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related
Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 

  
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 Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the Issuing Bank and Holdings. Upon any such resignation, the Required Lenders shall have the right to appoint a successor with the approval of the Borrower
(such approval not to be unreasonably withheld or delayed; provided that no such approval shall be required if an Event of Default has occurred and is continuing). If no successor shall have been so appointed by the Required Lenders (and, if
required, approved by the Borrower) 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 which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor,
such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder;
provided that, solely for purposes of maintaining any security interest granted to the Administrative Agent under any Pledge Agreement for the benefit of the Secured Parties, the retiring Administrative Agent shall continue to be vested with
such security interest as collateral agent for the benefit of the Secured Parties and, in the case of any Pledged Equity in the possession of the Administrative Agent, shall continue to hold such Pledged Equity, in each case until such time as a
successor Administrative Agent is appointed and accepts such appointment in accordance with this paragraph (it being understood and agreed that the retiring Administrative Agent shall have no duty or obligation to take any further action under any
Pledge Agreement, including any action required to maintain the perfection of any such security interest). 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 Holdings and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its
sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent. 
 Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made
its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it
shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

 None of the Lenders, if any, identified in this Agreement as a Co-Syndication Agent shall have any right, power, obligation,
liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such. Without limiting the foregoing, none of such Lenders shall have or be deemed to have a fiduciary relationship with any Lender. Each Lender
hereby makes the same acknowledgments with respect to the relevant Lenders in their respective capacities as Co-Syndication Agent as it makes with respect to the Administrative Agent in the preceding paragraph. 

The Lenders are not partners or co-venturers, and no Lender shall be liable for the acts or omissions of, or (except as otherwise set
forth herein in case of the Administrative Agent) authorized to act for, any other Lender. The Administrative Agent shall have the exclusive right on behalf of the Lenders to enforce the payment of the principal of and interest on any Loan after the
date such principal or interest has become due and payable pursuant to the terms of this Agreement. 

  
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 In its capacity, the Administrative Agent is a “representative” of the Secured
Parties within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code. Each Lender authorizes the Administrative Agent to enter into each of the Pledge Agreements to which it is a party and to take all
action contemplated by such documents. Each Lender agrees that no Secured Party (other than the Administrative Agent) shall have the right individually to seek to realize upon the security granted by any Pledge Agreement, it being understood and
agreed that such rights and remedies may be exercised solely by the Administrative Agent for the benefit of the Secured Parties upon the terms of the Pledge Agreements. In the event that any Pledged Equity is hereafter pledged by any Person as
collateral security for the Obligations, the Administrative Agent is hereby authorized, and hereby granted a power of attorney, to execute and deliver on behalf of the Secured Parties any Loan Documents necessary or appropriate to grant and perfect
a Lien on such Pledged Equity in favor of the Administrative Agent on behalf of the Secured Parties. The Lenders hereby authorize the Administrative Agent, at its option and in its discretion, to release any Lien granted to or held by the
Administrative Agent upon any Pledged Equity (i) as described in Section 9.02(d); (ii) as permitted by, but only in accordance with, the terms of the applicable Loan Document; or (iii) if approved, authorized or ratified in
writing by the Required Lenders, unless such release is required to be approved by all of the Lenders hereunder. Upon request by the Administrative Agent at any time, the Lenders will confirm in writing the Administrative Agent’s authority to
release particular types or items of Pledged Equity pursuant hereto. Upon any sale or transfer of assets constituting Pledged Equity which is permitted pursuant to the terms of any Loan Document, or consented to in writing by the Required Lenders or
all of the Lenders, as applicable, and upon at least five (5) Business Days’ prior written request by Holdings to the Administrative Agent, the Administrative Agent shall (and is hereby irrevocably authorized by the Lenders to) execute
such documents as may be necessary to evidence the release of the Liens granted to the Administrative Agent for the benefit of the Secured Parties herein or pursuant hereto upon the Pledged Equity that was sold or transferred; provided,
however, that (i) the Administrative Agent shall not be required to execute any such document on terms which, in the Administrative Agent’s opinion, would expose the Administrative Agent to liability or create any obligation or
entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Obligations or any Liens upon (or obligations of Holdings, the Borrower or
any Subsidiary in respect of) all interests retained by Holdings, the Borrower or any Subsidiary, including (without limitation) the proceeds of the sale, all of which shall continue to constitute part of the Pledged Equity. 

Each of Holdings, on its behalf and on behalf of the Subsidiaries, the Borrower, and each Lender, on its behalf and on the behalf of its
affiliated Secured Parties, hereby irrevocably constitute the Administrative Agent as the holder of an irrevocable power of attorney (fondé de pouvoir within the meaning of Article 2692 of the Civil Code of Québec) in order
to hold hypothecs and security granted by Holdings, the Borrower or any Subsidiary on property pursuant to the laws of the Province of Quebec to secure obligations of Holdings, the Borrower or any Subsidiary under any bond, debenture or similar
title of indebtedness issued by Holdings, the Borrower or any Subsidiary in connection with this Agreement, and agree that the Administrative Agent may act as the bondholder and mandatary with respect to any bond, debenture or similar title of
indebtedness that may be issued by Holdings, the Borrower or any Subsidiary and pledged in favor of the Secured Parties in connection with this Agreement. Notwithstanding the provisions of Section 32 of the An Act respecting the special powers
of legal persons (Québec), JPMorgan Chase Bank, N.A. as Administrative Agent may acquire and be the holder of any bond issued by Holdings, the Borrower or any Subsidiary in connection with this Agreement (i.e., the fondé de
pouvoir may acquire and hold the first bond issued under any deed of hypothec by Holdings, the Borrower or any Subsidiary). 

The Administrative Agent is hereby authorized to execute and deliver any documents necessary or appropriate to create and perfect the
rights of pledge for the benefit of the Secured Parties 

  
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including a right of pledge with respect to the entitlements to profits, the balance left after winding up and the voting rights of Holdings as ultimate parent of any subsidiary of Holdings which
is organized under the laws of the Netherlands and the Equity Interests of which are pledged in connection herewith (a “Dutch Pledge”). Without prejudice to the provisions of this Agreement and the other Loan Documents, the parties
hereto acknowledge and agree with the creation of parallel debt obligations of Holdings or any relevant Subsidiary as will be described in any Dutch Pledge (the “Parallel Debt”), including that any payment received by the
Administrative Agent in respect of the Parallel Debt will - conditionally upon such payment not subsequently being avoided or reduced by virtue of any provisions or enactments relating to bankruptcy, insolvency, preference, liquidation or similar
laws of general application - be deemed a satisfaction of a pro rata portion of the corresponding amounts of the Obligations, and any payment to the Secured Parties in satisfaction of the Obligations shall - conditionally upon such payment not
subsequently being avoided or reduced by virtue of any provisions or enactments relating to bankruptcy, insolvency, preference, liquidation or similar laws of general application - be deemed as satisfaction of the corresponding amount of the
Parallel Debt. The parties hereto acknowledge and agree that, for purposes of a Dutch Pledge, any resignation by the Administrative Agent is not effective until its rights under the Parallel Debt are assigned to the successor Administrative Agent.

 The parties hereto acknowledge and agree for the purposes of taking and ensuring the continuing validity of German law
governed pledges (Pfandrechte) with the creation of parallel debt obligations of Holdings, the Borrower and the Subsidiaries as will be further described in a separate German law governed parallel debt undertaking. The Administrative Agent
shall (i) hold such parallel debt undertaking as fiduciary agent (Treuhänder) and (ii) administer and hold as fiduciary agent (Treuhänder) any pledge created under a German law governed Pledge Agreement which is
created in favor of any Secured Party or transferred to any Secured Party due to its accessory nature (Akzessorietät), in each case in its own name and for the account of the Secured Parties. Each Lender (on behalf of itself and its
affiliated Secured Parties) hereby authorizes the Administrative Agent to enter as its agent in its name and on its behalf into any German law governed Pledge Agreement, accept as its agent in its name and on its behalf any pledge or other creation
of any accessory security right in relation to this Agreement and to agree to and execute on its behalf as its representative in its name and on its behalf any amendments, supplements and other alterations to any such Pledge Agreement and to release
on behalf of any such Lender or Secured Party any such Pledge Agreement and any pledge created under any such Pledge Agreement in accordance with the provisions herein and/or the provisions in any such Pledge Agreement. 

ARTICLE IX 

Miscellaneous 
 SECTION 9.01. Notices. (a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph (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 telecopy, as follows: 

(i) if to Holdings or the Borrower, to it at 5005 E. McDowell Road, Phoenix, AZ 85008, Attention of Treasurer (Telecopy
No. (602) 244-5139; Telephone No. (602) 244-5374), with a copy (in the case of a notice of Default) to General Counsel (Telecopy No. (602) 244-5500; Telephone No. (602) 244-5226); 

(ii) if to the Administrative Agent, (A) in the case of Borrowings denominated in Dollars, to JPMorgan Chase Bank,
N.A., 10 South Dearborn Street, Chicago, Illinois 60603, Attention of 

  
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April Yebd (Telecopy No. (888) 292-9533; Email: jpm.agency.servicing.4@jpmchase.com) and (B) in the case of Borrowings denominated in Foreign Currencies, to J.P. Morgan Europe
Limited, 125 London Wall, London EC2Y 5AJ, Attention of Loan and Agency Services (Telecopy No. 44 207 777 2360; Email: loan_and_agency_london@jpmorgan.com), and in each case with a copy to JPMorgan Chase Bank, N.A., 2200 Ross Avenue, 3rd Floor, TX1-2903, Dallas, Texas 75201, Attention of Gregory T. Martin
(Telecopy No. (214) 965-2171); 
 (iii) if to the Issuing Bank, to it at JPMorgan Chase Bank, N.A., 10 South
Dearborn Street, Chicago, Illinois 60603, Attention of Debra Williams (Telecopy No. (312) 385-7098); 
 (iv)
if to the Swingline Lender, to it at JPMorgan Chase Bank, N.A., 10 South Dearborn Street, Chicago, Illinois 60603, Attention of April Yebd (Telecopy No. (888) 292-9533; Email: jpm.agency.servicing.4@jpmchase.com); and 

(v) if to any other Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire.

 (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communications
pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative
Agent, Holdings 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. 
 (c) Any party hereto may change its address or telecopy number for notices
and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt.

 SECTION 9.02. Waivers; Amendments. (a) No failure or delay by the Administrative Agent, the Issuing Bank or any
Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such
a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Bank and the Lenders hereunder and under the other Loan Documents are
cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by Holdings or the Borrower therefrom shall in any event be effective unless the same
shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or
issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or the Issuing Bank may have had notice or knowledge of such Default at the time. 

(b) Except as provided in Section 2.20 with respect to an Incremental Term Loan Amendment, neither this Agreement nor any provision
hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by Holdings, the Borrower and the Required Lenders or by Holdings, 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 

  
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without the written consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder,
without the written consent of each Lender directly affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees payable hereunder, or reduce the
amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender directly affected thereby, (iv) change Section 2.18(b) or (d) in a manner that
would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (v) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision hereof
specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender (it being understood that, solely with the
consent of the parties prescribed by Section 2.20 to be parties to an Incremental Term Loan Amendment, Incremental Term Loans may be included in the determination of Required Lenders on substantially the same basis as the Commitments and the
Revolving Loans are included on the Effective Date), (vi) release Holdings or the Borrower from its obligations under Article X, or all or substantially all of the Subsidiary Guarantors from their obligations under the Subsidiary Guaranty, in
each case without the written consent of each Lender or (vii) except as provided in clause (d) of this Section or in any Pledge Agreement, release all or substantially all of the Pledged Equity without the written consent of each Lender;
provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Issuing Bank or the Swingline Lender hereunder without the prior written consent of the
Administrative Agent, the Issuing Bank or the Swingline Lender, as the case may be. 
 (c) Notwithstanding the foregoing, this
Agreement and any other Loan Document may be amended (or amended and restated) with the written consent of the Required Lenders, the Administrative Agent, Holdings and the Borrower to each relevant Loan Document (x) to add one or more credit
facilities (in addition to the Incremental Term Loans pursuant to an Incremental Term Loan Amendment) to this Agreement and to permit extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof
to share ratably in the benefits of this Agreement and the other Loan Documents with the Revolving Loans, Incremental Term Loans and the accrued interest and fees in respect thereof and (y) to include appropriately the Lenders holding such
credit facilities in any determination of the Required Lenders and Lenders. 
 (d) The Lenders hereby irrevocably authorize the
Administrative Agent, at its option and in its sole discretion, to release any Liens granted to the Administrative Agent by the Loan Parties on any Pledged Equity (i) upon the termination of all the Commitments, payment and satisfaction in full
in cash of all Obligations (other than Obligations not yet due and payable to the Lenders or any of their Affiliates under any Swap Agreement or any Banking Services Agreement), (ii) constituting property being sold or disposed of if Holdings
certifies to the Administrative Agent that the sale or disposition is made in compliance with the terms of this Agreement (and the Administrative Agent may rely conclusively on any such certificate, without further inquiry), or (iii) as
required to effect any sale or other disposition of such Pledged Equity in connection with any exercise of remedies of the Administrative Agent and the Lenders pursuant to Article VII. Any such release shall not in any manner discharge, affect,
or impair the Obligations or any Liens (other than those expressly being released) upon (or obligations of the Loan Parties in respect of) all interests retained by the Loan Parties, including the proceeds of any sale, all of which shall continue to
constitute part of the Pledged Equity. 
 (e) If, in connection with any proposed amendment, waiver or consent requiring the
consent of “each Lender” or “each Lender directly affected thereby,” the consent of the Required Lenders is obtained, but the consent of other necessary Lenders is not obtained (any such Lender whose consent is

  
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necessary but not obtained being referred to herein as a “Non-Consenting Lender”), then Holdings may, at its sole cost and expense, elect to replace a Non-Consenting Lender as a
Lender party to this Agreement, provided that, concurrently with such replacement, (i) another bank or other entity which is reasonably satisfactory to Holdings and the Administrative Agent shall agree, as of such date, to purchase for cash the
Loans and other Obligations due to the Non-Consenting Lender pursuant to an Assignment and Assumption and to become a Lender for all purposes under this Agreement and to assume all obligations of the Non-Consenting Lender to be terminated as of such
date and to comply with the requirements of clause (b) of Section 9.04, (ii) the Borrower shall pay to such Non-Consenting Lender in same day funds on the day of such replacement (1) all interest, fees and other amounts then
accrued but unpaid to such Non-Consenting Lender by the Borrower hereunder to and including the date of termination, including without limitation payments due to such Non-Consenting Lender under Sections 2.15 and 2.17, and (2) an amount,
if any, equal to the payment which would have been due to such Lender on the day of such replacement under Section 2.16 had the Loans of such Non-Consenting Lender been prepaid on such date rather than sold to the replacement Lender and
(iii) the replacement Lender shall provide such consent or the appointment of such replacement Lender will result in the effectiveness of such amendment, waiver or consent. 

(f) Notwithstanding anything to the contrary herein the Administrative Agent may, upon prior notice to the Lenders, with the consent of
Holdings and 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. 

SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses
incurred by the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent, in connection with the syndication and distribution (including, without limitation, via the
internet or through a service such as Intralinks) of the credit facilities provided for herein, the preparation 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), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of any
Letter of Credit or any demand for payment thereunder and (iii) all reasonable out-of-pocket expenses incurred by the Administrative Agent, the Issuing Bank or any Lender, including the fees, charges and disbursements of any counsel for the
Administrative Agent, the Issuing Bank or any Lender, in connection with the enforcement or protection of its rights in connection with this Agreement and any other Loan Document, including its rights under this Section, or in connection with the
Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) The Borrower shall indemnify the Administrative Agent, the Issuing Bank and each Lender, and each Related Party of any of the
foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and reasonable and related out-of-pocket expenses, including the
reasonable fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of any Loan Document or any
agreement or instrument contemplated thereby, the performance by the parties hereto of their respective obligations thereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan or Letter of
Credit or the use of the proceeds therefrom (including any refusal by the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such
Letter of Credit), (iii) any 

  
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actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by Holdings, the Borrower or any of the Subsidiaries, or any Environmental Liability related
in any way to Holdings, the Borrower or any of the 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 Holdings, the Borrower or any of the Subsidiaries, 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 (i) the gross negligence or willful misconduct of such Indemnitee or
(ii) a material breach in bad faith by such Indemnitee of its express contractual obligations under the Loan Documents pursuant to a claim made by the Borrower. This Section 9.03(b) shall not apply with respect to Taxes other than any
Taxes that represent losses or damages arising from any non-Tax claim. 
 (c) To the extent that the Borrower fails to pay any
amount required to be paid by it to the Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this Section (and without limiting its obligation to do so), each Lender severally agrees to pay to the
Administrative Agent, the Issuing Bank or the Swingline Lender, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount
(it being understood that the Borrower’s failure to pay any such amount shall not relieve the Borrower of any default in the payment thereof); provided that the unreimbursed expense or indemnified loss, claim, damage, liability or
related expense, as the case may be, was incurred by or asserted against the Administrative Agent, the Issuing Bank or the Swingline Lender in its capacity as such. 
 (d) To the extent permitted by applicable law, neither Holdings nor the Borrower shall assert, and each hereby waives, any claim against any Indemnitee (i) for any damages arising from the use by
others of information or other materials obtained through telecommunications, electronic or other information transmission systems (including the Internet), or (ii) 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. 
 (e) All amounts due under this Section shall be payable not later than fifteen
(15) days after written demand therefor. 
 SECTION 9.04. Successors and Assigns. (a) The provisions of this
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) neither
Holdings nor the Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by Holdings or the Borrower without such consent shall
be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person
(other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section) and,
to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Bank and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

  
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 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may
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) with the prior written consent (such consent not to be
unreasonably withheld or delayed) of: 
 (A) Holdings (provided that Holdings 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); provided, further, that no consent of Holdings shall be
required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee; 

(B) the Administrative Agent; and 
 (C) the Issuing Bank. 
 (ii) Assignments shall be subject to the
following additional conditions: 
 (A) except in the case of an assignment to a Lender or an Affiliate of a
Lender or an Approved Fund or an assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as
of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 unless each of Holdings and the Administrative Agent otherwise consent (such consent not to be
unreasonably withheld or delayed), provided that no such consent of Holdings shall be required if an Event of Default has occurred and is continuing; 
 (B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement, provided that this clause shall not be
construed to prohibit the assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of one Class of Commitments or Loans; 

(C) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee of $3,500, such fee to be paid by either the assigning Lender or the assignee Lender or shared between such Lenders; and 

(D) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire
in which the assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about Holdings and its affiliates and their Related Parties or their respective securities) will
be made available and who may receive such information in accordance with the assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 

For the purposes of this Section 9.04(b), the term “Approved Fund” has the following meaning: 

  
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 “Approved Fund” means any Person (other than a natural person) that is
engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an
entity or an Affiliate of an entity that administers or manages a Lender. 
 (iii) Subject to acceptance and
recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such
Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under
this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits
of Sections 2.15, 2.16, 2.17 and 9.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.04 shall be treated for purposes of this Agreement as a sale by such
Lender of a participation in such rights and obligations in accordance with paragraph (c) of this Section. 

(iv) The Administrative Agent, acting for this purpose as an agent of Holdings and the Borrower, shall maintain at one of
its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount of the Loans and LC Disbursements owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and Holdings, the Borrower, the Administrative Agent, the Issuing Bank and the Lenders shall treat each Person whose
name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by Holdings, the Borrower, the Issuing
Bank and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (v) Upon its
receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and
recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the
information contained therein in the Register; provided that if either the assigning Lender or the assignee shall have failed to make any payment required to be made by it pursuant to Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(e) or
9.03(c), the Administrative Agent shall have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest
thereon. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 
 (c) Any Lender may, without the consent of Holdings or the Borrower, the Administrative Agent, the Issuing Bank or the Swingline Lender, sell participations to one or more banks or other entities (a
“Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) such Lender’s
obligations under this Agreement shall remain unchanged; (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; and (C) Holdings, the Borrower, the Administrative Agent, the
Issuing Bank and the other Lenders shall 

  
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continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender
sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may
provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such Participant. Each of Holdings and the Borrower agrees
that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and limitations therein, including the requirements under Section 2.17(f) (it being understood that the documentation
required under Section 2.17(f) 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 paragraph (b) of this Section; provided that such Participant
(A) agrees to be subject to the provisions of Sections 2.18 and 2.19 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 2.15 or 2.17,
with respect to any participation, than its participating Lender 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. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.18(d) as though it
were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as an agent of Holdings and 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 this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the
Participant Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans, Letters of Credit or its other obligations under this Agreement) 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. 
 (d) 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 without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest;
provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents
and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery
of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, the Issuing Bank or any Lender
may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, 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 or any other Loan Document 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 Sections 2.15,
2.16, 2.17 and 9.03 and Article VIII shall survive and remain in full force and effect 

  
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regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination
of this Agreement or any other Loan Document or any provision hereof or thereof. 
 SECTION 9.06. Counterparts; Integration;
Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This
Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable to the Administrative Agent 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 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 other electronic imaging shall be effective as delivery of a manually executed counterpart of this Agreement. 

SECTION 9.07. Severability. Any provision of any 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 thereof; and the invalidity of a particular
provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION 9.08. Right
of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final and in whatever currency denominated) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of Holdings, the
Borrower or any Subsidiary Guarantor against any of and all of the Obligations held by such Lender, irrespective of whether or not such Lender shall have made any demand under the Loan Documents and although such obligations may be unmatured. The
rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have. 
 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance with and governed by the law of the State of New York. 

(b) Each of Holdings and the Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of
or relating to any Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined
in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan Document shall affect any right that the Administrative Agent, the Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating
to this Agreement or any other Loan Document against any Loan Party or its properties in the courts of any jurisdiction. 

  
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 (c) Each of Holdings and the Borrower hereby irrevocably and unconditionally waives, to the
fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court
referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in
Section 9.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY 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 PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

SECTION 9.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 
 SECTION 9.12. Confidentiality. Each of the Administrative Agent, the Issuing Bank and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (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 requested by any regulatory authority (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 to this Agreement, (e) in connection with the exercise of any remedies under
this Agreement or any other Loan Document or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty
(or its advisors) to any swap or derivative transaction relating to Holdings or the Borrower and their respective obligations, (g) with the consent of Holdings or (h) to the extent such Information (i) becomes publicly available other
than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis from a source other than Holdings or the Borrower. For the purposes of this Section,
“Information” means all information received from Holdings and the Borrower relating to Holdings, the Borrower or their business, other than any such information that is available to the Administrative Agent, the Issuing Bank or any Lender
on a nonconfidential basis prior to disclosure by Holdings or the Borrower, as the 

  
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case may be; provided that, in the case of information received from Holdings or the Borrower 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 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. 
 SECTION 9.13. USA
PATRIOT Act. Each Lender that is subject to the requirements of the Patriot Act hereby notifies each Loan Party that pursuant to the requirements of the Act, it is required to obtain, verify and record information that identifies such Loan
Party, which information includes the name and address of such Loan Party and other information that will allow such Lender to identify such Loan Party in accordance with the Act. 

SECTION 9.14. Releases of Subsidiary Guarantors. 
 (a) A Subsidiary Guarantor shall automatically be released from its obligations under the Subsidiary Guaranty upon the consummation of any transaction permitted by this Agreement as a result of which such
Subsidiary Guarantor ceases to be a Material Domestic Subsidiary or, in the case of a Qualifying Subsidiary, is released from its Guarantee of Permitted Convertible Notes and Permitted Unsecured Indebtedness, as applicable; provided that, if
so required by this Agreement, the Required Lenders shall have consented to such transaction and the terms of such consent shall not have provided otherwise. In connection with any termination or release pursuant to this Section, the Administrative
Agent shall (and is hereby irrevocably authorized by each Lender to) execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release. Any
execution and delivery of documents pursuant to this Section shall be without recourse to or warranty by the Administrative Agent. 
 (b) Further, the Administrative Agent may (and is hereby irrevocably authorized by each Lender to), upon the request of Holdings, release any Subsidiary Guarantor from its obligations under the Subsidiary
Guaranty if such Subsidiary Guarantor is no longer a Material Domestic Subsidiary or, in the case of a Qualifying Subsidiary, has been released from its Guarantee of Permitted Convertible Notes and Permitted Unsecured Indebtedness, as applicable.

 (c) At such time as the principal and interest on the Loans, all LC Disbursements, the fees, expenses and other amounts
payable under the Loan Documents and the other Obligations (other than obligations not yet due and payable under any Swap Agreement or any Banking Services Agreement, and other Obligations expressly stated to survive such payment and termination)
shall have been paid in full, the Commitments shall have been terminated and no Letters of Credit shall be outstanding, the Subsidiary Guaranty and all obligations (other than those expressly stated to survive such termination) of each Subsidiary
Guarantor thereunder shall automatically terminate, all without delivery of any instrument or performance of any act by any Person. 
 SECTION 9.15. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts
which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or
reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent
lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this 

  
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Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such
cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. 
 SECTION 9.16. 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), each of Holdings and the Borrower acknowledges and agrees that: (i) (A) the arranging and other services regarding this Agreement provided by the Lenders are arm’s-length commercial
transactions between Holdings, the Borrower and each of their Affiliates, on the one hand, and the Lenders and their Affiliates, on the other hand, (B) each of Holdings and the Borrower has consulted its own legal, accounting, regulatory and
tax advisors to the extent it has deemed appropriate, and (C) each of Holdings and the Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan
Documents; (ii) (A) each of the Lenders and their Affiliates 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 Holdings, the Borrower or any of their Affiliates, or any other Person and (B) no Lender or any of its Affiliates has any obligation to Holdings, the Borrower or any of their Affiliates with respect to the transactions
contemplated hereby except, in the case of a Lender, those obligations expressly set forth herein and in the other Loan Documents; and (iii) each of the Lenders and their respective Affiliates may be engaged in a broad range of transactions
that involve interests that differ from those of Holdings, the Borrower and their Affiliates, and no Lender or any of its Affiliates has any obligation to disclose any of such interests to Holdings, the Borrower or their Affiliates. To the
fullest extent permitted by law, each of Holdings and the Borrower hereby waives and releases any claims that it may have against each of the Lenders and their Affiliates with respect to any breach or alleged breach of agency or fiduciary duty in
connection with any aspect of any transaction contemplated hereby. 
 ARTICLE X 

Guaranty 

In order to induce the Lenders to extend credit to the Borrower hereunder, the Borrower and Holdings (collectively, the “Guaranty
Parties”) hereby irrevocably and unconditionally guarantees, on a joint and several basis and as a primary obligor and not merely as a surety, the payment when and as due of the Obligations. Each Guaranty Party further agrees that the due
and punctual payment of such Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such extension or renewal of any
such Obligation. 
 Each Guaranty Party waives presentment to, demand of payment from and protest to any Guaranty Party of any
of the Obligations, and also waives notice of acceptance of its obligations and notice of protest for nonpayment. The obligations of each Guaranty Party hereunder shall not be affected by (a) the failure of the Administrative Agent, the Issuing
Bank or any Lender to assert any claim or demand or to enforce any right or remedy against any Guaranty Party under the provisions of this Agreement, any other Loan Document or otherwise; (b) any extension or renewal of any of the Obligations;
(c) any rescission, waiver, amendment or modification of, or release from, any of the terms or provisions of this Agreement, or any other Loan Document or agreement; (d) any default, failure or delay, willful or otherwise, in the
performance of any of the Obligations; (e) the failure of the Administrative Agent to take any steps to perfect and maintain any security interest in, or to preserve any rights to, any security or collateral for the Obligations, if any;
(f) any change in the corporate, partnership 

  
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or other existence, structure or ownership of any Guaranty Party or any other guarantor of any of the Obligations; (g) the enforceability or validity of the Obligations or any part thereof
or the genuineness, enforceability or validity of any agreement relating thereto or with respect to any collateral securing the Obligations or any part thereof, or any other invalidity or unenforceability relating to or against any Guaranty Party or
any other guarantor of any of the Obligations, for any reason related to this Agreement, any Swap Agreement, any Banking Services Agreement, any other Loan Document, or any provision of applicable law, decree, order or regulation of any jurisdiction
purporting to prohibit the payment by such Guaranty Party or any other guarantor of the Obligations, of any of the Obligations or otherwise affecting any term of any of the Obligations; or (h) any other act, omission or delay to do any other
act which may or might in any manner or to any extent vary the risk of such Guaranty Party or otherwise operate as a discharge of a guarantor as a matter of law or equity or which would impair or eliminate any right of such Guaranty Party to
subrogation. 
 Each Guaranty Party further agrees that its agreement hereunder constitutes a guarantee of payment when due
(whether or not any bankruptcy or similar proceeding shall have stayed the accrual or collection of any of the Obligations or operated as a discharge thereof) and not merely of collection, and waives any right to require that any resort be had by
the Administrative Agent, the Issuing Bank or any Lender to any balance of any deposit account or credit on the books of the Administrative Agent, the Issuing Bank or any Lender in favor of any Guaranty Party or any other Person. 

The obligations of each Guaranty Party hereunder shall not be subject to any reduction, limitation, impairment or termination for any
reason, and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality or unenforceability of any of the Obligations, any impossibility in the performance of any of the
Obligations or otherwise. 
 Each Guaranty Party further agrees that its obligations hereunder shall continue to be effective or
be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Bank or any Lender upon the bankruptcy or reorganization of any
Guaranty Party or otherwise. 
 In furtherance of the foregoing and not in limitation of any other right which the
Administrative Agent, the Issuing Bank or any Lender may have at law or in equity against any Guaranty Party by virtue hereof, upon the failure of any other Guaranty Party to pay any Obligation when and as the same shall become due, whether at
maturity, by acceleration, after notice of prepayment or otherwise, each Guaranty Party hereby promises to and will, upon receipt of written demand by the Administrative Agent, the Issuing Bank or any Lender, forthwith pay, or cause to be paid, to
the Administrative Agent, the Issuing Bank or any Lender in cash an amount equal to the unpaid principal amount of the Obligations then due, together with accrued and unpaid interest thereon. Each Guaranty Party further agrees that if payment in
respect of any Obligation shall be due in a currency other than Dollars and/or at a place of payment other than New York, Chicago or any other Eurocurrency Payment Office and if, by reason of any Change in Law, disruption of currency or foreign
exchange markets, war or civil disturbance or other event, payment of such Obligation in such currency or at such place of payment shall be impossible or, in the reasonable judgment of the Administrative Agent, the Issuing Bank or any Lender,
disadvantageous to the Administrative Agent, the Issuing Bank or any Lender in any material respect, then, at the election of the Administrative Agent, such Guaranty Party shall make payment of such Obligation in Dollars (based upon the applicable
Equivalent Amount in effect on the date of payment) and/or in New York, Chicago or such other Eurocurrency Payment Office as is designated by the Administrative Agent and, as a separate and independent obligation, shall indemnify the Administrative
Agent, the Issuing Bank and any Lender 

  
 88 

 
against any losses or reasonable out-of-pocket expenses that it shall sustain as a result of such alternative payment. 
 Upon payment by any Guaranty Party of any sums as provided above, all rights of such Guaranty Party against any Guaranty Party arising as a result thereof by way of right of subrogation or otherwise shall
in all respects be subordinated and junior in right of payment to the prior indefeasible payment in full in cash of all the Obligations owed by such Guaranty Party to the Administrative Agent, the Issuing Bank and the Lenders. 

Nothing shall discharge or satisfy the liability of any Guaranty Party hereunder except the full performance and payment in cash of the
Obligations (other than obligations not yet due and payable under any Swap Agreement or any Banking Services Agreement). 

[Signature Pages Follow] 

  
 89 

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

			
	SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC, as the Borrower
		
	By	 	 /s/ DONALD COLVIN

	Name:	 	Donald Colvin
	Title:	 	Executive Vice President and Chief Financial Officer
	
	 ON SEMICONDUCTOR CORPORATION,
 as Holdings

		
	By	 	 /s/ DONALD COLVIN

	Name:	 	Donald Colvin
	Title:	 	Executive Vice President and Chief Financial Officer

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	JPMORGAN CHASE BANK, N.A., individually as a Lender, as the Swingline Lender, as the Issuing Bank and as Administrative Agent
		
	By	 	 /s/ GREGORY T. MARTIN

	Name:	 	Gregory T. Martin
	Title:	 	Vice President

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	BANK OF AMERICA, N.A., individually as a Lender and as a Co-Syndication Agent
		
	By	 	 /s/ JEFFREY MILLS

	Name:	 	Jeffrey Mills
	Title:	 	AVP

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	THE ROYAL BANK OF SCOTLAND plc, individually as a Lender and as a Co-Syndication Agent
		
	By	 	 /s/ PATRICIA BOUSSAROQUE

	Name:	 	Patricia Boussaroque
	Title:	 	Vice President

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	NATIONAL BANK OF ARIZONA, as a Lender
		
	By	 	 /s/ ABRAN VILLEGAS

	Name:	 	Abran Villegas
	Title:	 	Vice President

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	SUMITOMO MITSUI BANKING CORPORATION, NEW YORK, as a Lender
		
	By	 	 /s/ SHUJI YABE

	Name:	 	Shuji Yabe
	Title:	 	Manager Director

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	BOKF, NA d/b/a BANK OF ARIZONA, as a Lender
		
	By	 	 /s/ CHRISTINE A. NOWACZYK

	Name:	 	Christine A. Nowaczyk
	Title:	 	Senior Vice President

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender
		
	By	 	 /s/ STEVEN F. LARSEN

	Name:	 	Steven F. Larsen
	Title:	 	Vice President

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	BANK OF MONTREAL, as a Lender
		
	By	 	 /s/ ISABELLA BATTISTA

	Name:	 	Isabella Battista
	Title:	 	Vice President

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender
		
	By	 	 /s/ VINCENT D’AMORE

	Name:	 	Vincent D’Amore
	Title	 	Director

  

			
	DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender
		
	By	 	 /s/ EVELYN THIERRY

	Name:	 	Evelyn Thierry
	Title	 	Director

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	MORGAN STANLEY BANK, N.A., as a Lender
		
	By	 	 /s/ MICHAEL KING

	Name:	 	Michael King
	Title	 	Authorized Signatory

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 
			
	USB LOAN FINANCE LLC, as a Lender
		
	By	 	 /s/ IRJA R. OTSA

	Name:	 	Irja R. Otsa
	Title	 	Associate Director
		
	By	 	 /s/ JOSELIN FERNANDES

	Name:	 	Joselin Fernandes
	Title	 	Associate Director

  
 Signature Page
to Credit Agreement 
 Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 SCHEDULE 2.01 
 COMMITMENTS 
  

			
	 LENDER
	  	COMMITMENT
	 JPMORGAN CHASE BANK, N.A.
	  	$50,000,000
		
	 BANK OF AMERICA, N.A.
	  	$50,000,000
		
	 THE ROYAL BANK OF SCOTLAND PLC
	  	$50,000,000
		
	 NATIONAL BANK OF ARIZONA
	  	$27,500,000
		
	 SUMITOMO MITSUI BANKING CORPORATION, NEW YORK
	  	$27,500,000
		
	 BOKF, NA
	  	$22,500,000
		
	 HSBC BANK USA, NATIONAL ASSOCIATION
	  	$22,500,000
		
	 BANK OF MONTREAL
	  	$20,000,000
		
	 DEUTSCHE BANK AG NEW YORK BRANCH
	  	$20,000,000
		
	 MORGAN STANLEY BANK, N.A.
	  	$20,000,000
		
	 UBS LOAN FINANCE LLC
	  	$15,000,000
		
	 AGGREGATE COMMITMENT
	  	$325,000,000

 SCHEDULE 2.02 
 MANDATORY COST 
  

	1.	The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the
Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank. 

 

	2.	On the first day of each Interest Period (or as soon as possible thereafter) the Administrative Agent shall calculate, as a percentage rate, a rate (the
“Associated Costs Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Administrative Agent as a weighted average of the Lenders’ Associated Costs Rates (weighted
in proportion to the percentage participation of each Lender in the relevant Loan) and will be expressed as a percentage rate per annum. 

  

	3.	The Associated Costs Rate for any Lender lending from a Facility Office in a Participating Member State will be the percentage notified by that Lender to the
Administrative Agent. This percentage will be certified by that Lender in its notice to the Administrative Agent to be its reasonable determination of the cost (expressed as a percentage of that Lender’s participation in all Loans made from
that Facility Office) of complying with the minimum reserve requirements of the European Central Bank in respect of loans made from that Facility Office. 

  

	4.	The Associated Costs Rate for any Lender lending from a Facility Office in the United Kingdom will be calculated by the Administrative Agent as follows:

  

	 	(a)	in relation to a Loan in Pounds Sterling: 

  

					
	 AB + C(B-D)+E × 0.01
	    	
AB + C(B-D)+E × 0.01
	  	per cent. per annum.
	100 – (A + C)	    	100 – (A + C)	  	

  

	 	(b)	in relation to a Loan in any currency other than Pounds Sterling: 

  

					
	 E × 0.01
	    	
AB + C(B-D)+E × 0.01
	  	per cent. per annum.
	300	    	100 – (A + C)	  	

  

					
		 	 E × 0.01
	 	
		 	300	 	

 Where: 
  

	 	A.	is the percentage of Eligible Liabilities (assuming these to be in excess of any stated minimum) which that Lender is from time to time required to maintain as an
interest free cash ratio deposit with the Bank of England to comply with cash ratio requirements. 

  

	 	B.	is the percentage rate of interest (excluding the Applicable Rate and the Mandatory Cost and, if the Loan is an Unpaid Sum, the additional rate of interest specified in
Section 2.13(c)) payable for the relevant Interest Period on the Loan. 

  

	 	C.	is the percentage (if any) of Eligible Liabilities which that Lender is required from time to time to maintain as interest bearing Special Deposits with the Bank of
England. 

	 	D.	is the percentage rate per annum payable by the Bank of England to the Administrative Agent on interest bearing Special Deposits. 

 

	 	E.	is designed to compensate Lenders for amounts payable under the Fees Rules and is calculated by the Administrative Agent as being the average of the most recent rates
of charge supplied by the Reference Banks to the Administrative Agent pursuant to paragraph 7 below and expressed in pounds per £1,000,000. 

  

	5.	For the purposes of this Schedule: 

  

	 	(a)	“Eligible Liabilities” and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of
England Act 1998 or (as may be appropriate) by the Bank of England; 

  

	 	(b)	“Facility Office” means the office or offices notified by a Lender to the Administrative Agent in writing on or before the date it becomes a Lender
(or, following that date, by not less than five Business Days’ written notice) as the office or offices through which it will perform its obligations under this Agreement. 

 

	 	(c)	“Fees Rules” means the rules on periodic fees contained in the Financial Services Authority Fees Manual or such other law or regulation as may be in
force from time to time in respect of the payment of fees for the acceptance of deposits; 

  

	 	(d)	“Fee Tariffs” means the fee tariffs specified in the Fees Rules under the activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated
fee required pursuant to the Fees Rules but taking into account any applicable discount rate); 

  

	 	(e)	“Participating Member State” means any member state of the European Union that adopts or has adopted the euro as its lawful currency in accordance with
legislation of the European Union relating to economic and monetary union. 

  

	 	(f)	“Reference Banks” means, in relation to Mandatory Cost, the principal London offices of JPMorgan Chase Bank, N.A. 

 

	 	(g)	“Tariff Base” has the meaning given to it in, and will be calculated in accordance with, the Fees Rules. 

 

	 	(h)	“Unpaid Sum” means any sum due and payable but unpaid by the Borrower under the Loan Documents. 

 

	6.	In application of the above formulae, A, B, C and D will be included in the formulae as percentages (i.e. 5 per cent. will be included in the formula as 5 and not
as 0.05). A negative result obtained by subtracting D from B shall be taken as zero. The resulting figures shall be rounded to four decimal places. 

  

	7.	 If requested by the Administrative Agent, each Reference Bank shall, as soon as practicable after publication by the Financial Services Authority,
supply to the Administrative Agent, the rate of charge payable by that Reference Bank to the Financial Services Authority pursuant to the Fees Rules in respect of the relevant financial year of the Financial Services Authority (calculated for this
purpose by that Reference Bank as being the average of the Fee Tariffs applicable to that 

  
 2 

	 	
Reference Bank for that financial year) and expressed in pounds per £1,000,000 of the Tariff Base of that Reference Bank. 

 

	8.	Each Lender shall supply any information required by the Administrative Agent for the purpose of calculating its Associated Costs Rate. In particular, but without
limitation, each Lender shall supply the following information on or prior to the date on which it becomes a Lender: 

  

	 	(a)	the jurisdiction of its Facility Office; and 

  

	 	(b)	any other information that the Administrative Agent may reasonably require for such purpose. 

Each Lender shall promptly notify the Administrative Agent of any change to the information provided by it pursuant to this paragraph.

  

	9.	The percentages of each Lender for the purpose of A and C above and the rates of charge of each Reference Bank for the purpose of E above shall be determined by the
Administrative Agent based upon the information supplied to it pursuant to paragraphs 7 and 8 above and on the assumption that, unless a Lender notifies the Administrative Agent to the contrary, each Lender’s obligations in relation to
cash ratio deposits and Special Deposits are the same as those of a typical bank from its jurisdiction of incorporation with a Facility Office in the same jurisdiction as its Facility Office. 

 

	10.	The Administrative Agent shall have no liability to any person if such determination results in an Associated Costs Rate which over or under compensates any Lender and
shall be entitled to assume that the information provided by any Lender or Reference Bank pursuant to paragraphs 3, 7 and 8 above is true and correct in all respects. 

 

	11.	The Administrative Agent shall distribute the additional amounts received as a result of the Mandatory Cost to the Lenders on the basis of the Associated Costs Rate for
each Lender based on the information provided by each Lender and each Reference Bank pursuant to paragraphs 3, 7 and 8 above. 

  

	12.	Any determination by the Administrative Agent pursuant to this Schedule in relation to a formula, the Mandatory Cost, an Associated Costs Rate or any amount payable to
a Lender shall, in the absence of manifest error, be conclusive and binding on all parties hereto. 

  

	13.	The Administrative Agent may from time to time, after consultation with the Borrower and the relevant Lenders, determine and notify to all parties hereto any amendments
which are required to be made to this Schedule 2.02 in order to comply with any change in law, regulation or any requirements from time to time imposed by the Bank of England, the Financial Services Authority or the European Central Bank (or,
in any case, any other authority which replaces all or any of its functions) and any such determination shall, in the absence of manifest error, be conclusive and binding on all parties hereto. 

  
 3 

 EXHIBIT A 
 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]1]
			
	3.	  	Borrower(s):	  	Semiconductor Components Industries, LLC        
			
	4.	  	Administrative Agent:	  	JPMorgan Chase Bank, N.A., as the administrative agent under the Credit Agreement
			
	5.	  	Credit Agreement:	  	The Credit Agreement dated as of December 23, 2011 among Semiconductor Components Industries, LLC, ON Semiconductor Corporation, the Lenders parties thereto, JPMorgan Chase Bank,
N.A., as Administrative Agent, and the other agents parties thereto

  
  

	1 	 Select as applicable. 

	6.	Assigned Interest: 

  

					
	 Aggregate Amount of

Commitment/Loans for all
 Lenders
	 	 Amount of Commitment/
Loans Assigned
	 	 Percentage Assigned of

Commitment/Loans2

	 $
	 	$	 	%
	 $
	 	$	 	%
	 $
	 	$	 	%

 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	 	  

	Title:	 	
	
	ASSIGNEE
	
	[NAME OF ASSIGNEE]
		
	By	 	  

	Title:	 	

 Consented to and Accepted: 
  

			
	JPMORGAN CHASE BANK, N.A.,
	as Administrative Agent and Issuing Bank
		
	By	 	  

	Title:	 	
	
	[Consented to:]3
	
	ON SEMICONDUCTOR CORPORATION
		
	By	 	  

	Title:	 	

  
  

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

	3 	 To be added only if the consent of the Borrower is required by the terms of the Credit Agreement. 

  
 2 

 ANNEX I 
 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 Holdings, the Borrower, any of the Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document
or (iv) the performance or observance by Holdings, the Borrower, any of the 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 has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to
Section 5.01 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 (v) if it is a Non-U.S. 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. 

2. 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.

 3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties
hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by telecopy 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 New York. 

  
 2 

 EXHIBIT B 
 OPINION OF COUNSEL FOR THE LOAN PARTIES 
 [Attached] 

 EXHIBIT C 
 FORM OF INCREASING LENDER SUPPLEMENT 
 INCREASING LENDER SUPPLEMENT, dated
            , 20     (this “Supplement”), by and among each of the signatories hereto, to the Credit Agreement, dated as of
December 23, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Semiconductor Components Industries, LLC (the “Borrower”), ON Semiconductor
Corporation, the Lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 
 W I T N E S S E T H 
 WHEREAS, pursuant to Section 2.20 of the Credit
Agreement, the Borrower has the right, subject to the terms and conditions thereof, to effectuate from time to time an increase in the Aggregate Commitment and/or one or more tranches of Incremental Term Loans under the Credit Agreement by
requesting one or more Lenders to increase the amount of its Commitment and/or to participate in such a tranche; 
 WHEREAS, the
Borrower has given notice to the Administrative Agent of its intention to [increase the Aggregate Commitment] [and] [enter into a tranche of Incremental Term Loans] pursuant to such Section 2.20; and 

WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the undersigned Increasing Lender now desires to [increase the
amount of its Commitment] [and] [participate in a tranche of Incremental Term Loans] under the Credit Agreement by executing and delivering to the Borrower and the Administrative Agent this Supplement; 

NOW, THEREFORE, each of the parties hereto hereby agrees as follows: 

1. The undersigned Increasing Lender agrees, subject to the terms and conditions of the Credit Agreement, that on the date of this
Supplement it shall [have its Commitment increased by $[        ], thereby making the aggregate amount of its total Commitments equal to $[        ]] [and]
[participate in a tranche of Incremental Term Loans with a commitment amount equal to $[        ] with respect thereto]. 
 2. The Borrower hereby represents and warrants that no Default or Event of Default has occurred and is continuing on and as of the date hereof. 

3. Terms defined in the Credit Agreement shall have their defined meanings when used herein. 

4. This Supplement shall be governed by, and construed in accordance with, the laws of the State of New York. 

5. This Supplement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same document. 

 IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized officer on the date first above written. 
  

			
	[INSERT NAME OF INCREASING LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Accepted and agreed to as of the date first written above: 

SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC 
  

			
	By	 	  

	Name:	 	
	Title:	 	
	
	Acknowledged as of the date first written above:
	
	 JPMORGAN CHASE BANK, N.A.
 as Administrative Agent

		
	By	 	  

	Name:	 	
	Title:	 	

  
 2 

 EXHIBIT D 
 FORM OF AUGMENTING LENDER SUPPLEMENT 
 AUGMENTING LENDER SUPPLEMENT, dated
            , 20     (this “Supplement”), to the Credit Agreement, dated as of December 23, 2011 (as amended, restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among Semiconductor Components Industries, LLC (the “Borrower”), ON Semiconductor Corporation, the Lenders party thereto and JPMorgan Chase Bank,
N.A., as administrative agent (in such capacity, the “Administrative Agent”). 
 W I T N E S S E T H 

WHEREAS, the Credit Agreement provides in Section 2.20 thereof that any bank, financial institution or other entity may [extend
Commitments] [and] [participate in tranches of Incremental Term Loans] under the Credit Agreement subject to the approval of the Borrower and the Administrative Agent, by executing and delivering to the Borrower and the Administrative Agent a
supplement to the Credit Agreement in substantially the form of this Supplement; and 
 WHEREAS, the undersigned Augmenting
Lender was not an original party to the Credit Agreement but now desires to become a party thereto; 
 NOW, THEREFORE, each of
the parties hereto hereby agrees as follows: 
 1. The undersigned Augmenting Lender agrees to be bound by the provisions of the
Credit Agreement and agrees that it shall, on the date of this Supplement, become a Lender for all purposes of the Credit Agreement to the same extent as if originally a party thereto, with a [Commitment with respect to Revolving Loans of
$[        ]] [and] [a commitment with respect to Incremental Term Loans of $[        ]]. 

2. The undersigned Augmenting Lender (a) represents and warrants that it is legally authorized to enter into this Supplement;
(b) confirms that it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, as applicable, and has reviewed such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into this Supplement; (c) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such
documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement or any other instrument or document furnished pursuant hereto or thereto;
(d) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement or any other instrument or document furnished pursuant hereto or thereto as
are delegated to the Administrative Agent by the terms thereof, together with such powers as are incidental thereto; and (e) agrees that it will be bound by the provisions of the Credit Agreement and will perform in accordance with its terms
all the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender. 
 3. The
undersigned’s address for notices for the purposes of the Credit Agreement is as follows: 

[                    ]

 4. The Borrower hereby represents and warrants that no Default or Event of Default has
occurred and is continuing on and as of the date hereof. 
 5. Terms defined in the Credit Agreement shall have their defined
meanings when used herein. 
 6. This Supplement shall be governed by, and construed in accordance with, the laws of the State
of New York. 
 7. This Supplement may be executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same document. 
 [remainder of this page intentionally left blank] 

  
 2 

 IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized officer on the date first above written. 
  

			
	[INSERT NAME OF AUGMENTING LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Accepted and agreed to as of the date first written above: 

SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC 
  

			
	By	 	  

	Name:	 	
	Title:	 	
	
	Acknowledged as of the date first written above:
	
	 JPMORGAN CHASE BANK, N.A.
 as Administrative Agent

		
	By	 	  

	Name:	 	
	Title:	 	

  
 3 

 EXHIBIT E 
 LIST OF CLOSING DOCUMENTS 
 SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC

 ON SEMICONDUCTOR CORPORATION 
 CREDIT FACILITIES 
 December 23, 2011 

LIST OF CLOSING DOCUMENTS1 
 A. LOAN DOCUMENTS 
  

	1.	Credit Agreement (the “Credit Agreement”) by and among Semiconductor Components Industries, LLC, a Delaware limited liability company (the
“Borrower”), ON Semiconductor Corporation (“Holdings”), the institutions from time to time parties thereto as Lenders (the “Lenders”) and JPMorgan Chase Bank, N.A., in its capacity as Administrative
Agent for itself and the other Lenders (the “Administrative Agent”), evidencing a revolving credit facility to the Borrower from the Lenders in an initial aggregate principal amount of $325,000,000. 

SCHEDULES 
  

					
	Schedule 2.01	 	—	  	Commitments
	Schedule 2.02	 	—	  	Mandatory Cost

 EXHIBITS 
  

					
	Exhibit A	 	—	  	Form of Assignment and Assumption
	Exhibit B	 	—	  	Form of Opinion of Loan Parties’ Counsel
	Exhibit C	 	—	  	Form of Increasing Lender Supplement
	Exhibit D	 	—	  	Form of Augmenting Lender Supplement
	Exhibit E	 	—	  	List of Closing Documents
	Exhibit F	 	—	  	Form of Subsidiary Guaranty
	Exhibit G-1	 	—	  	Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Not Partnerships)
	Exhibit G-2	 	—	  	Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Partnerships)
	Exhibit G-3	 	—	  	Form of U.S. Tax Certificate (Non-U.S. Participants That Are Not Partnerships)
	Exhibit G-4	 	—	  	Form of U.S. Tax Certificate (Non-U.S. Participants That Are Partnerships)
	Exhibit H	 	—	  	Form of Compliance Certificate
	Exhibit I	 	—	  	Form of Borrowing Request

  

	1 	 Each capitalized term used herein and not defined herein shall have the meaning assigned to such term in the above-defined Credit Agreement. Items
appearing in bold and italics shall be prepared and/or provided by the Borrower and/or Borrower’s counsel. 

					
	Exhibit J	 	—	  	Form of Interest Election Request
	Exhibit K	 	—	  	Form of Promissory Note

  

	2.	Notes executed by the Borrower in favor of each of the Lenders, if any, which has requested a note pursuant to Section 2.10(e) of the Credit Agreement.

  

	3.	Guaranty executed by the initial Subsidiary Guarantors (collectively with the Borrower and Holdings, the “Loan Parties”) in favor of the Administrative
Agent. 

  

	4.	Pledge Agreement executed by the applicable initial Loan Parties (collectively, the “Pledgors”), together with pledged stock certificates, stock
powers executed in blank, pledge instructions and acknowledgments, as appropriate. 

  

	5.	The Disclosure Letter executed by the Borrower and delivered to the Administrative Agent for the benefit of the Lenders. 

B. CORPORATE DOCUMENTS 
  

	6.	Certificate of the Secretary or an Assistant Secretary of each Loan Party certifying (i) that there have been no changes in the Certificate of Incorporation
or other charter document of such Loan Party, as attached thereto and as certified as of a recent date by the Secretary of State (or analogous governmental entity) of the jurisdiction of its organization, since the date of the certification thereof
by such governmental entity, (ii) the By-Laws or other applicable organizational document, as attached thereto, of such Loan Party as in effect on the date of such certification, (iii) resolutions of the Board of Directors or other
governing body of such Loan Party authorizing the execution, delivery and performance of each Loan Document to which it is a party, and (iv) the names and true signatures of the incumbent officers of each Loan Party authorized to sign the Loan
Documents to which it is a party, and (in the case of the Borrower) authorized to request a Borrowing or the issuance of a Letter of Credit under the Credit Agreement. 

 

	7.	Good Standing Certificate for each Loan Party from the Secretary of State of the jurisdiction of its organization. 

C. OPINIONS 
  

	8.	Opinion of Snell & Wilmer L.L.P., counsel for the Loan Parties. 

D. CLOSING CERTIFICATE 
  

	9.	A Certificate signed by the President, a Vice President or a Financial Officer of Holdings certifying the following: (i) all of the representations and
warranties of Holdings and the Borrower set forth in the Credit Agreement are true and correct and (ii) no Default or Event of Default has occurred and is then continuing. 

E. UCC DOCUMENTS 

  
 2 

	10.	UCC financing statements naming each Pledgor as debtor and the Administrative Agent as secured party as filed with the appropriate offices in applicable jurisdictions.

 F. POST-CLOSING DOCUMENTS 

 

	11.	Foreign pledge agreements and related instruments. 

  

	12.	Corporate documents in respect of foreign pledges. 

  

	13.	Foreign pledge opinions. 

  
 3 

 EXHIBIT F 
 FORM OF SUBSIDIARY GUARANTY 
 GUARANTY 

THIS GUARANTY (this “Guaranty”) is made as of
[            ], 2011, by and among each of the undersigned (the “Initial Guarantors” and along with any additional Subsidiaries of Holdings which become parties to
this Guaranty by executing a supplement hereto in the form attached as Annex I, the “Guarantors”) in favor of the Administrative Agent, for the ratable benefit of the Holders of Guaranteed Obligations (as defined below), under
the Credit Agreement referred to below. 
 WITNESSETH 
 WHEREAS, Semiconductor Components Industries, LLC, a Delaware limited liability company (the “Borrower”), ON Semiconductor Corporation (“Holdings”), the institutions from
time to time parties thereto as lenders (the “Lenders”), and JPMorgan Chase Bank, N.A., in its capacity as administrative agent (the “Administrative Agent”), have entered into a certain Credit Agreement dated as of
December 23, 2011 (as the same may be amended, modified, supplemented and/or restated, and as in effect from time to time, the “Credit Agreement”), providing, subject to the terms and conditions thereof, for extensions of
credit and other financial accommodations to be made by the Lenders to the Borrower; 
 WHEREAS, it is a condition precedent to
the extensions of credit by the Lenders under the Credit Agreement that each of the Guarantors (constituting all of the Subsidiaries of Holdings required to execute this Guaranty pursuant to the Credit Agreement) execute and deliver this Guaranty,
whereby each of the Guarantors shall guarantee the payment when due of all Obligations; and 
 WHEREAS, in consideration of the
direct and indirect financial and other support that Holdings and the Borrower have provided, and such direct and indirect financial and other support as Holdings and the Borrower may in the future provide, to the Guarantors, and in order to induce
the Lenders and the Administrative Agent to enter into the Credit Agreement, each of the Guarantors is willing to guarantee the Obligations of Holdings and the Borrower; 
 NOW, THEREFORE, in consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 SECTION 1. Definitions. Terms defined in the Credit Agreement and not otherwise defined herein have, as used herein,
the respective meanings provided for therein. 
 SECTION 2. Representations, Warranties and Covenants. Each of the
Guarantors represents and warrants (which representations and warranties shall be deemed to have been renewed at the time of any Credit Event) that: 
 (A) It is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and,
except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is
required. 

 (B) It (to the extent applicable) has the requisite power and authority and
legal right to execute and deliver this Guaranty and to perform its obligations hereunder. This Guaranty has been duly executed and delivered by such Guarantor and constitutes a legal, valid and binding obligation of such Guarantor, enforceable in
accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a
proceeding in equity or at law. 
 (C) The transactions herein (i) do not require any consent or approval
of, registration or filing with, or any other action by or before, any Governmental Authority, except such as have been obtained or made and are in full force and effect and except where the failure to obtain such consent or approval or make such
registration or filing, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, (ii) will not violate (x) in any material respect any order of any Governmental Authority or any applicable
law or regulation or (y) the charter, by-laws or other organizational documents of such Guarantor, (c) will not violate or result in a default under any material indenture, agreement or other instrument binding upon such Guarantor or any
of its assets, or give rise to a right thereunder to require any payment to be made by such Guarantor (other than to the extent solely arising as a result of the failure by the Administrative Agent and the Lenders to exercise their applicable rights
thereunder) and (d) will not result in the creation or imposition of any Lien on any asset of such Guarantor, except Liens created under the Credit Agreement and the Pledge Agreements. 

In addition to the foregoing, each of the Guarantors covenants that, so long as any Lender has any Commitment outstanding under the
Credit Agreement or any amount payable under the Credit Agreement or any other Guaranteed Obligations shall remain unpaid, it will, and, if necessary, will enable Holdings and the Borrower to, fully comply with those covenants and agreements of
Holdings or the Borrower applicable to such Guarantor set forth in the Credit Agreement. 
 SECTION 3. The Guaranty. Each
of the Guarantors hereby unconditionally guarantees, jointly with the other Guarantors and severally, the full and punctual payment and performance when due (whether at stated maturity, upon acceleration or otherwise) of the Obligations, including,
without limitation, (i) the principal of and interest on each Loan made to the Borrower pursuant to the Credit Agreement, (ii) any obligations of Holdings or the Borrower to reimburse LC Disbursements (“Reimbursement
Obligations”), (iii) all obligations of Holdings or the Borrower owing to any Lender or any affiliate of any Lender under any Swap Agreement or Banking Services Agreement, (iv) all other amounts payable by Holdings, the Borrower
or any of the Subsidiaries under the Credit Agreement, any Swap Agreement, any Banking Services Agreement and the other Loan Documents and (v) the punctual and faithful performance, keeping, observance, and fulfillment by Holdings and the
Borrower of all of the respective agreements, conditions, covenants, and obligations of Holdings and the Borrower contained in the Loan Documents (all of the foregoing being referred to collectively as the “Guaranteed Obligations”
and the holders from time to time of the Guaranteed Obligations being referred to collectively as the “Holders of Guaranteed Obligations”). Upon (x) the failure by Holdings or any of its Affiliates, as applicable, to pay
punctually any such amount or perform such obligation, and (y) such failure continuing beyond any applicable grace or notice and cure period, each of the Guarantors agrees that it shall forthwith on demand pay such amount or perform such
obligation at the place and in the manner specified in the Credit Agreement, any Swap Agreement, any Banking Services Agreement or the relevant Loan Document, as the case may be. Each of the Guarantors hereby agrees that this Guaranty is an
absolute, irrevocable and unconditional guaranty of payment and is not a guaranty of collection. 

  
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 SECTION 4. Guaranty Unconditional. The obligations of each of the Guarantors
hereunder shall be unconditional and absolute and, without limiting the generality of the foregoing, shall not be released, discharged or otherwise affected by: 
 (A) any extension, renewal, settlement, indulgence, compromise, waiver or release of or with respect to the Guaranteed Obligations or any part thereof or any agreement relating thereto, or with respect to
any obligation of any other guarantor of any of the Guaranteed Obligations, whether (in any such case) by operation of law or otherwise, or any failure or omission to enforce any right, power or remedy with respect to the Guaranteed Obligations or
any part thereof or any agreement relating thereto, or with respect to any obligation of any other guarantor of any of the Guaranteed Obligations; 
 (B) any modification or amendment of or supplement to the Credit Agreement, any Swap Agreement, any Banking Services Agreement or any other Loan Document, including, without limitation, any such amendment
which may increase the amount of, or the interest rates applicable to, any of the Obligations guaranteed hereby; 

(C) any release, surrender, compromise, settlement, waiver, subordination or modification, with or without consideration,
of any collateral securing the Guaranteed Obligations or any part thereof, any other guaranties with respect to the Guaranteed Obligations or any part thereof, or any other obligation of any person or entity with respect to the Guaranteed
Obligations or any part thereof, or any nonperfection or invalidity of any direct or indirect security for the Guaranteed Obligations; 
 (D) any change in the corporate, partnership or other existence, structure or ownership of Holdings, the Borrower or any other guarantor of any of the Guaranteed Obligations, or any insolvency,
bankruptcy, reorganization or other similar proceeding affecting Holdings, the Borrower or any other guarantor of the Guaranteed Obligations, or any of their respective assets or any resulting release or discharge of any obligation of Holdings, the
Borrower or any other guarantor of any of the Guaranteed Obligations; 
 (E) the existence of any claim, setoff
or other rights which the Guarantors may have at any time against Holdings, the Borrower, any other guarantor of any of the Guaranteed Obligations, the Administrative Agent, any Holder of Guaranteed Obligations or any other Person, whether in
connection herewith or in connection with any unrelated transactions; provided that nothing herein shall prevent the assertion of any such claim by separate suit or compulsory counterclaim; 

(F) the enforceability or validity of the Guaranteed Obligations or any part thereof or the genuineness, enforceability or
validity of any agreement relating thereto or with respect to any collateral securing the Guaranteed Obligations or any part thereof, or any other invalidity or unenforceability relating to or against Holdings, the Borrower or any other guarantor of
any of the Guaranteed Obligations, for any reason related to the Credit Agreement, any Swap Agreement, any Banking Services Agreement, any other Loan Document, or any provision of applicable law, decree, order or regulation of any jurisdiction
purporting to prohibit the payment by Holdings, the Borrower or any other guarantor of the Guaranteed Obligations, of any of the Guaranteed Obligations or otherwise affecting any term of any of the Guaranteed Obligations; 

  
 3 

 (G) the failure of the Administrative Agent to take any steps to perfect and
maintain any security interest in, or to preserve any rights to, any security or collateral for the Guaranteed Obligations, if any; 
 (H) the election by, or on behalf of, any one or more of the Holders of Guaranteed Obligations, in any proceeding instituted under Chapter 11 of Title 11 of the United States Code
(11 U.S.C. 101 et seq.) (the “Bankruptcy Code”), of the application of Section 1111(b)(2) of the Bankruptcy Code; 
 (I) any borrowing or grant of a security interest by Holdings or the Borrower, as debtor-in-possession, under Section 364 of the Bankruptcy Code; 

(J) the disallowance, under Section 502 of the Bankruptcy Code, of all or any portion of the claims of the Holders of
Guaranteed Obligations or the Administrative Agent for repayment of all or any part of the Guaranteed Obligations; 
 (K) the failure of any other guarantor to sign or become party to this Guaranty or any amendment, change, or reaffirmation hereof; or 

(L) any other act or omission to act or delay of any kind by Holdings, the Borrower, any other guarantor of the Guaranteed
Obligations, the Administrative Agent, any Holder of Guaranteed Obligations or any other Person or any other circumstance whatsoever which might, but for the provisions of this Section 4, constitute a legal or equitable discharge of any
Guarantor’s obligations hereunder except as provided in Section 5. 
 SECTION 5. Discharge Only Upon Payment In
Full: Reinstatement In Certain Circumstances. Each of the Guarantors’ obligations hereunder shall remain in full force and effect until such time as (i) the principal and interest on the Loans, all LC Disbursements, the fees, expenses
and other amounts payable under the Loan Documents and the other Obligations (other than obligations not yet due and payable under any Swap Agreement or any Banking Services Agreement, and other Obligations expressly stated to survive such payment
and termination) shall have been paid in full, the Commitments shall have been terminated and no Letters of Credit shall be outstanding or (ii) the consummation of any transaction permitted by the Credit Agreement as a result of which such
Guarantor ceases to be a Material Domestic Subsidiary or, in the case of a Qualifying Subsidiary, is released from its Guarantee of Permitted Convertible Notes and Permitted Unsecured Indebtedness, as applicable. If at any time any payment of the
principal of or interest on any Loan, any Reimbursement Obligation or any other amount payable by Holdings, the Borrower or any other party under the Credit Agreement, any Swap Agreement, any Banking Services Agreement or any other Loan Document is
rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of Holdings or the Borrower or otherwise, each of the Guarantors’ obligations hereunder with respect to such payment shall be reinstated as
though such payment had been due but not made at such time. The parties hereto acknowledge and agree that each of the Guaranteed Obligations shall be due and payable in the same currency as such Guaranteed Obligation is denominated, but if currency
control or exchange regulations are imposed in the country which issues such currency with the result that such currency (the “Original Currency”) no longer exists or the relevant Guarantor is not able to make payment in such
Original Currency, then all payments to be made by such Guarantor hereunder in such currency shall instead be made when due in Dollars in an amount equal to the Dollar Amount (as of the date of payment) of such payment due, it being the intention of
the parties hereto that each Guarantor takes all risks of the imposition of any such currency control or exchange regulations. 

  
 4 

 SECTION 6. General Waivers; Additional Waivers. 

(A) General Waivers. Each of the Guarantors irrevocably waives acceptance hereof, presentment, demand or action on
delinquency, protest, the benefit of any statutes of limitations and, to the fullest extent permitted by law, any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against Holdings, the
Borrower, any other guarantor of the Guaranteed Obligations, or any other Person. 
 (B) Additional Waivers.
Notwithstanding anything herein to the contrary, each of the Guarantors hereby absolutely, unconditionally, knowingly, and expressly waives: 
 (i) any right it may have to revoke this Guaranty as to future indebtedness or notice of acceptance hereof; 
 (ii) (a) notice of acceptance hereof; (b) notice of any loans or other financial accommodations made or extended under the Loan Documents or the creation or existence of any Guaranteed
Obligations; (c) notice of the amount of the Guaranteed Obligations, subject, however, to each Guarantor’s right to make inquiry of Administrative Agent and Holders of Guaranteed Obligations to ascertain the amount of the Guaranteed
Obligations at any reasonable time; (d) notice of any adverse change in the financial condition of Holdings or the Borrower or of any other fact that might increase such Guarantor’s risk hereunder; (e) notice of presentment for
payment, demand, protest, and notice thereof as to any instruments among the Loan Documents; (f) notice of any Default or Event of Default; and (g) all other notices (except if such notice is specifically required to be given to such
Guarantor hereunder or under the Loan Documents) and demands to which each Guarantor might otherwise be entitled; 
 (iii) its right, if any, to require the Administrative Agent and the other Holders of Guaranteed Obligations to institute suit against, or to exhaust any rights and remedies which the Administrative Agent
and the other Holders of Guaranteed Obligations has or may have against, the other Guarantors or any third party, or against any collateral provided by the other Guarantors, or any third party; and each Guarantor further waives any defense arising
by reason of any disability or other defense (other than the defense that the Guaranteed Obligations shall have been fully and finally performed and indefeasibly paid) of the other Guarantors or by reason of the cessation from any cause whatsoever
of the liability of the other Guarantors in respect thereof; 
 (iv) (a) any rights to assert against the
Administrative Agent and the other Holders of Guaranteed Obligations any defense (legal or equitable), set-off, counterclaim, or claim which such Guarantor may now or at any time hereafter have against the other Guarantors or any other party liable
to the Administrative Agent and the other Holders of Guaranteed Obligations; (b) any defense, set-off, counterclaim, or claim, of any kind or nature, arising directly or indirectly from the present or future lack of perfection, sufficiency,
validity, or enforceability of the Guaranteed Obligations or any security therefor; (c) any defense such Guarantor has to performance hereunder, and any right such Guarantor has to be exonerated, arising by reason of: the impairment or
suspension of the Administrative Agent’s and the other Holders of Guaranteed Obligations’ rights or remedies against the other Guarantors; the alteration by the Administrative Agent and the other Holders of Guaranteed Obligations of the
Guaranteed Obligations; any discharge of the other Guarantors’ obligations to the Administrative Agent and the other Holders of Guaranteed Obligations by operation of law as a result of the Administrative Agent’s and the other Holders of
Guaranteed Obligations’ intervention or omission; or the acceptance by the 

  
 5 

 
Administrative Agent and the other Holders of Guaranteed Obligations of anything in partial satisfaction of the Guaranteed Obligations; and (d) the benefit of any statute of limitations
affecting such Guarantor’s liability hereunder or the enforcement thereof, and any act which shall defer or delay the operation of any statute of limitations applicable to the Guaranteed Obligations shall similarly operate to defer or delay the
operation of such statute of limitations applicable to such Guarantor’s liability hereunder; and 
 (v) any
defense arising by reason of or deriving from (a) any claim or defense based upon an election of remedies by the Administrative Agent and the other Holders of Guaranteed Obligations; or (b) any election by the Administrative Agent and the
other Holders of Guaranteed Obligations under Section 1111(b) of Title 11 of the United States Code entitled “Bankruptcy”, as now and hereafter in effect (or any successor statute), to limit the amount of, or any collateral
securing, its claim against the Guarantors. 
 SECTION 7. Subordination of Subrogation; Subordination of Intercompany
Indebtedness. 
 (A) Subordination of Subrogation. Until the Guaranteed Obligations have been fully and
finally performed and indefeasibly paid in full in cash, the Guarantors (i) shall have no right of subrogation with respect to such Guaranteed Obligations, (ii) waive any right to enforce any remedy which the Holders of Guaranteed
Obligations, the Issuing Bank or the Administrative Agent now have or may hereafter have against Holdings, the Borrower, any endorser or any guarantor of all or any part of the Guaranteed Obligations or any other Person, and (iii) waive any
benefit of, and any right to participate in, any security or collateral given to the Holders of Guaranteed Obligations, the Issuing Bank and the Administrative Agent to secure the payment or performance of all or any part of the Guaranteed
Obligations or any other liability of Holdings or the Borrower to the Holders of Guaranteed Obligations or the Issuing Bank. Should any Guarantor have the right, notwithstanding the foregoing, to exercise its subrogation rights, each Guarantor
hereby expressly and irrevocably (A) subordinates any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off that such Guarantor may have to the indefeasible payment in full in
cash of the Guaranteed Obligations and (B) waives any and all defenses available to a surety, guarantor or accommodation co-obligor until the Guaranteed Obligations are indefeasibly paid in full in cash. Each Guarantor acknowledges and agrees
that this subordination is intended to benefit the Administrative Agent and the other Holders of Guaranteed Obligations and shall not limit or otherwise affect such Guarantor’s liability hereunder or the enforceability of this Guaranty, and
that the Administrative Agent, the other Holders of Guaranteed Obligations and their respective successors and assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 7(A). 

(B) Subordination of Intercompany Indebtedness. Each Guarantor agrees that any and all claims of such Guarantor against
Holdings, the Borrower or any other Guarantor hereunder (each an “Obligor”) with respect to any “Intercompany Indebtedness” (as hereinafter defined), any endorser, obligor or any other guarantor of all or any part of the
Guaranteed Obligations, or against any of its properties shall be subordinate and subject in right of payment to the prior payment, in full and in cash, of all Guaranteed Obligations; provided that, as long as no Event of Default has occurred
and is continuing, such Guarantor may receive payments of principal and interest from any Obligor with respect to Intercompany Indebtedness. Notwithstanding any right of any Guarantor to ask, demand, sue for, take or receive any payment from any
Obligor, all rights, liens and security interests of such Guarantor, whether now or hereafter arising and howsoever existing, in any assets of any other Obligor shall be and are subordinated to the rights

  
 6 

 
of the Holders of Guaranteed Obligations and the Administrative Agent in those assets. No Guarantor shall have any right to possession of any such asset or to foreclose upon any such asset,
whether by judicial action or otherwise, unless and until all of the Guaranteed Obligations shall have been fully paid and satisfied (in cash) and all financing arrangements pursuant to any Loan Document, any Swap Agreement or any Banking Services
Agreement have been terminated. If all or any part of the assets of any Obligor, or the proceeds thereof, are subject to any distribution, division or application to the creditors of such Obligor, whether partial or complete, voluntary or
involuntary, and whether by reason of liquidation, bankruptcy, arrangement, receivership, assignment for the benefit of creditors or any other action or proceeding, or if the business of any such Obligor is dissolved or if substantially all of the
assets of any such Obligor are sold, then, and in any such event (such events being herein referred to as an “Insolvency Event”), any payment or distribution of any kind or character, either in cash, securities or other property,
which shall be payable or deliverable upon or with respect to any indebtedness of any Obligor to any Guarantor (“Intercompany Indebtedness”) shall be paid or delivered directly to the Administrative Agent for application on any of
the Guaranteed Obligations, due or to become due, until such Guaranteed Obligations shall have first been fully paid and satisfied (in cash). Should any payment, distribution, security or instrument or proceeds thereof be received by the applicable
Guarantor upon or with respect to the Intercompany Indebtedness after any Insolvency Event and prior to the satisfaction of all of the Guaranteed Obligations and the termination of all financing arrangements pursuant to any Loan Document among
Holdings, the Borrower and the Holders of Guaranteed Obligations, such Guarantor shall receive and hold the same in trust, as trustee, for the benefit of the Holders of Guaranteed Obligations and shall forthwith deliver the same to the
Administrative Agent, for the benefit of the Holders of Guaranteed Obligations, in precisely the form received (except for the endorsement or assignment of the Guarantor where necessary), for application to any of the Guaranteed Obligations, due or
not due, and, until so delivered, the same shall be held in trust by the Guarantor as the property of the Holders of Guaranteed Obligations. If any such Guarantor fails to make any such endorsement or assignment to the Administrative Agent, the
Administrative Agent or any of its officers or employees is irrevocably authorized to make the same. Each Guarantor agrees that until the Guaranteed Obligations (other than the contingent indemnity obligations) have been paid in full (in cash) and
satisfied and all financing arrangements pursuant to any Loan Document among Holdings, the Borrower and the Holders of Guaranteed Obligations have been terminated, no Guarantor will assign or transfer to any Person (other than the Administrative
Agent) any claim any such Guarantor has or may have against any Obligor. 
 SECTION 8. Contribution with Respect to
Guaranteed Obligations. 
 (A) To the extent that any Guarantor shall make a payment under this Guaranty (a
“Guarantor Payment”) which, taking into account all other Guarantor Payments then previously or concurrently made by any other Guarantor, exceeds the amount which otherwise would have been paid by or attributable to such Guarantor
if each Guarantor had paid the aggregate Guaranteed Obligations satisfied by such Guarantor Payment in the same proportion as such Guarantor’s “Allocable Amount” (as defined below) (as determined immediately prior to such Guarantor
Payment) bore to the aggregate Allocable Amounts of each of the Guarantors as determined immediately prior to the making of such Guarantor Payment, then, following indefeasible payment in full in cash of the Guaranteed Obligations and termination of
the Credit Agreement, the Swap Agreements and the Banking Services Agreements, such Guarantor shall be entitled to receive contribution and indemnification payments from, and be reimbursed by, each other Guarantor for the amount of such excess,
pro rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor Payment. 

  
 7 

 (B) As of any date of determination, the “Allocable Amount” of any
Guarantor shall be equal to the excess of the fair saleable value of the property of such Guarantor over the total liabilities of such Guarantor (including the maximum amount reasonably expected to become due in respect of contingent liabilities,
calculated, without duplication, assuming each other Guarantor that is also liable for such contingent liability pays its ratable share thereof), giving effect to all payments made by other Guarantors as of such date in a manner to maximize the
amount of such contributions. 
 (C) This Section 8 is intended only to define the relative rights of the
Guarantors, and nothing set forth in this Section 8 is intended to or shall impair the obligations of the Guarantors, jointly and severally, to pay any amounts as and when the same shall become due and payable in accordance with the terms of
this Guaranty. 
 (D) The parties hereto acknowledge that the rights of contribution and indemnification
hereunder shall constitute assets of the Guarantor or Guarantors to which such contribution and indemnification is owing. 
 (E) The rights of the indemnifying Guarantors against other Guarantors under this Section 8 shall be exercisable upon the full and indefeasible payment of the Guaranteed Obligations in cash and the
termination of the Credit Agreement, the Swap Agreements and the Banking Services Agreements. 
 SECTION 9. Limitation of
Guaranty. Notwithstanding any other provision of this Guaranty, the amount guaranteed by each Guarantor hereunder shall be limited to the extent, if any, required so that its obligations hereunder shall not be subject to avoidance under
Section 548 of the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law. In determining the limitations, if any, on the amount of any Guarantor’s
obligations hereunder pursuant to the preceding sentence, it is the intention of the parties hereto that any rights of subrogation, indemnification or contribution which such Guarantor may have under this Guaranty, any other agreement or applicable
law shall be taken into account. 
 SECTION 10. Stay of Acceleration. If acceleration of the time for payment of any
amount payable by Holdings or the Borrower under the Credit Agreement, any Swap Agreement, any Banking Services Agreement or any other Loan Document is stayed upon the insolvency, bankruptcy or reorganization of Holdings or the Borrower, all such
amounts otherwise subject to acceleration under the terms of the Credit Agreement, any Swap Agreement, any Banking Services Agreement or any other Loan Document shall nonetheless be payable by each of the Guarantors hereunder forthwith on demand by
the Administrative Agent. 
 SECTION 11. Notices. All notices, requests and other communications to any party hereunder
shall be given in the manner prescribed in Article IX of the Credit Agreement with respect to the Administrative Agent at its notice address therein and with respect to any Guarantor, in care of Holdings at the address of Holdings set forth in
the Credit Agreement or such other address or telecopy number as such party may hereafter specify for such purpose by notice to the Administrative Agent in accordance with the provisions of such Article IX. 

SECTION 12. No Waivers. No failure or delay by the Administrative Agent or any other Holder of Guaranteed Obligations in
exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights
and remedies provided 

  
 8 

 
in this Guaranty, the Credit Agreement, any Swap Agreement, any Banking Services Agreement and the other Loan Documents shall be cumulative and not exclusive of any rights or remedies provided by
law. 
 SECTION 13. Successors and Assigns. This Guaranty is for the benefit of the Administrative Agent and the other
Holders of Guaranteed Obligations and their respective successors and permitted assigns; provided, that no Guarantor shall have any right to assign its rights or obligations hereunder without the consent of all of the Lenders, and any such
assignment in violation of this Section 13 shall be null and void; and in the event of an assignment of any amounts payable under the Credit Agreement, any Swap Agreement, any Banking Services Agreement or the other Loan Documents in accordance
with the respective terms thereof, the rights hereunder, to the extent applicable to the indebtedness so assigned, may be transferred with such indebtedness. This Guaranty shall be binding upon each of the Guarantors and their respective successors
and assigns. 
 SECTION 14. Changes in Writing. Other than in connection with the addition of additional Subsidiaries,
which become parties hereto by executing a supplement hereto in the form attached as Annex I, neither this Guaranty nor any provision hereof may be changed, waived, discharged or terminated orally, but only in writing signed by each of the
Guarantors and the Administrative Agent. 
 SECTION 15. GOVERNING LAW. THIS GUARANTY SHALL BE CONSTRUED IN ACCORDANCE
WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
 SECTION 16. JURISDICTION; CONSENT TO SERVICE OF PROCESS; WAIVER OF
JURY TRIAL. 
 (A) JURISDICTION. EACH GUARANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR
ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE SUPREME COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY
THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY
SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND
MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS GUARANTY OR ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY LENDER MAY
OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS GUARANTY OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. EACH GUARANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE
FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY OR ANY OTHER LOAN DOCUMENT IN ANY COURT
REFERRED TO IN THIS PARAGRAPH. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, 

  
 9 

 
THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 
 (B) CONSENT TO SERVICE OF PROCESS. EACH PARTY TO THIS GUARANTY IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 9.01 OF THE CREDIT AGREEMENT. NOTHING IN
THIS GUARANTY OR ANY OTHER LOAN DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS GUARANTY TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 
 (C) WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THIS GUARANTY, 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 PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED
TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 17. No
Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Guaranty. In the event an ambiguity or question of intent or interpretation arises, this Guaranty shall be construed as if drafted jointly
by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Guaranty. 
 SECTION 18. Taxes, Expenses of Enforcement, Etc. 
 (A)
Taxes. 
 (i) Each payment by any Guarantor hereunder or under any promissory note or application for a
Letter of Credit shall be made without withholding for any Taxes, unless such withholding is required by any law. If any Guarantor determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such
Guarantor may so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable law. If such Taxes are Indemnified Taxes, then the amount payable by the Guarantor shall be
increased as necessary so that, net of such withholding (including such withholding applicable to additional amounts payable under this Section), the applicable Recipient receives the amount it would have received had no such withholding been made.

 (ii) In addition, such Guarantor shall timely pay any Other Taxes to the relevant Governmental Authority in
accordance with applicable law. 
 (iii) As soon as practicable after any payment of Indemnified Taxes by any
Guarantor to a Governmental Authority, such Guarantor shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment,

  
 10 

 
a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(iv) The Guarantors shall jointly and severally indemnify each Recipient for any Indemnified Taxes that are paid or
payable by such Recipient in connection with any Loan Document (including amounts payable under this Section 18(A)) 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. The indemnity under this Section 18(A) shall be paid within ten (10) days after the Recipient delivers to any Guarantor a certificate stating the amount of any Indemnified
Taxes so payable by such Recipient. Such certificate shall be conclusive of the amount so payable absent manifest error. Such Recipient shall deliver a copy of such certificate to the Administrative Agent. In the case of any Lender making a claim
under this Section 18(A) on behalf of any of its beneficial owners, an indemnity payment under this Section 18(A) shall be due only to the extent that such Lender is able to establish that, with respect to the applicable Indemnified Taxes,
such beneficial owners supplied to the applicable Persons such properly completed and executed documentation necessary to claim any applicable exemption from, or reduction of, such Indemnified Taxes. 

(v) By accepting the benefits hereof, each Lender agrees that it will comply with Section 2.17(f) of the Credit
Agreement. 
 (B) Expenses of Enforcement, Etc. The Guarantors agree to reimburse the Administrative Agent
and the other Holders of Guaranteed Obligations for any reasonable costs and out-of-pocket expenses (including attorneys’ fees) paid or incurred by the Administrative Agent or any other Holder of Guaranteed Obligations in connection with the
collection and enforcement of amounts due under the Loan Documents, including without limitation this Guaranty. 
 SECTION 19.
Setoff. At any time after all or any part of the Guaranteed Obligations have become due and payable (by acceleration or otherwise), each Holder of Guaranteed Obligations (including the Administrative Agent) may, without notice to any
Guarantor and regardless of the acceptance of any security or collateral for the payment hereof, appropriate and apply in accordance with the terms of the Credit Agreement toward the payment of all or any part of the Guaranteed Obligations
(i) any indebtedness due or to become due from such Holder of Guaranteed Obligations or the Administrative Agent to any Guarantor, and (ii) any moneys, credits or other property belonging to any Guarantor, at any time held by or coming
into the possession of such Holder of Guaranteed Obligations (including the Administrative Agent) or any of their respective affiliates. 
 SECTION 20. Financial Information. Each Guarantor hereby assumes responsibility for keeping itself informed of the financial condition of Holdings or the Borrower and any and all endorsers and/or
other Guarantors of all or any part of the Guaranteed Obligations, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations, or any part thereof, that diligent inquiry would reveal, and each Guarantor hereby
agrees that none of the Holders of Guaranteed Obligations (including the Administrative Agent) shall have any duty to advise such Guarantor of information known to any of them regarding such condition or any such circumstances. In the event any
Holder of Guaranteed Obligations (including the Administrative Agent), in its sole discretion, undertakes at any time or from time to time to provide any such information to a Guarantor, such Holder of Guaranteed Obligations (including the
Administrative Agent) shall be under no obligation (i) to undertake any investigation not a part of its regular business routine, (ii) to disclose any information which such Holder of Guaranteed Obligations (including the Administrative
Agent), pursuant to accepted or 

  
 11 

 
reasonable commercial finance or banking practices, wishes to maintain confidential or (iii) to make any other or future disclosures of such information or any other information to such
Guarantor. 
 SECTION 21. Severability. Wherever possible, each provision of this Guaranty shall be interpreted in such
manner as to be effective and valid under applicable law, but if any provision of this Guaranty shall be prohibited by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity without
invalidating the remainder of such provision or the remaining provisions of this Guaranty. 
 SECTION 22. Merger. This
Guaranty represents the final agreement of each of the Guarantors with respect to the matters contained herein and may not be contradicted by evidence of prior or contemporaneous agreements, or subsequent oral agreements, between the Guarantor and
any Holder of Guaranteed Obligations (including the Administrative Agent). 
 SECTION 23. Headings. Section headings in
this Guaranty are for convenience of reference only and shall not govern the interpretation of any provision of this Guaranty. 

SECTION 24. Judgment Currency. If for the purposes of obtaining judgment in any court it is necessary to convert a sum due from
any Guarantor hereunder in the currency expressed to be payable herein (the “specified currency”) into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used
shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the specified currency with such other currency at the Administrative Agent’s main New York City office on the Business Day preceding
that on which final, non-appealable judgment is given. The obligations of each Guarantor in respect of any sum due hereunder shall, notwithstanding any judgment in a currency other than the specified currency, be discharged only to the extent that
on the Business Day following receipt by any Holder of Guaranteed Obligations (including the Administrative Agent), as the case may be, of any sum adjudged to be so due in such other currency such Holder of Guaranteed Obligations (including the
Administrative Agent), as the case may be, may in accordance with normal, reasonable banking procedures purchase the specified currency with such other currency. If the amount of the specified currency so purchased is less than the sum originally
due to such Holder of Guaranteed Obligations (including the Administrative Agent), as the case may be, in the specified currency, each Guarantor agrees, to the fullest extent that it may effectively do so, as a separate obligation and
notwithstanding any such judgment, to indemnify such Holder of Guaranteed Obligations (including the Administrative Agent), as the case may be, against such loss, and if the amount of the specified currency so purchased exceeds (a) the sum
originally due to any Holder of Guaranteed Obligations (including the Administrative Agent), as the case may be, in the specified currency and (b) amounts shared with other Holders of Guaranteed Obligations as a result of allocations of such
excess as a disproportionate payment to such other Holder of Guaranteed Obligations under Section 2.18 of the Credit Agreement, such Holder of Guaranteed Obligations (including the Administrative Agent), as the case may be, agrees, by accepting
the benefits hereof, to remit such excess to such Guarantor. 
 SECTION 25. Termination of Guaranty. The obligations of
any Guarantor under this Guaranty shall automatically terminate in accordance with Section 9.14 of the Credit Agreement. 

Remainder of Page Intentionally Blank. 

  
 12 

 IN WITNESS WHEREOF, each of the Initial Guarantors has caused this Guaranty to be duly
executed by its authorized officer as of the day and year first above written. 
  

			
	[GUARANTORS]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 13 

 Acknowledged and Agreed 
 as of the date first written above: 
 JPMORGAN CHASE BANK, N.A., 

as Administrative Agent 
  

			
	By:	 	  

	Name:	 	
	Title:	 	

  
 14 

 ANNEX I TO GUARANTY 
 Reference is hereby made to the Guaranty (the “Guaranty”) made as of [            ], 2011, by and among [GUARANTORS TO COME]
(the “Initial Guarantors” and along with any additional Subsidiaries of Holdings, which become parties thereto and together with the undersigned, the “Guarantors”) in favor of the Administrative Agent, for the
ratable benefit of the Holders of Guaranteed Obligations, under the Credit Agreement. Capitalized terms used herein and not defined herein shall have the meanings given to them in the Guaranty. By its execution below, the undersigned [NAME OF NEW
GUARANTOR], a [corporation] [partnership] [limited liability company] (the “New Guarantor”), agrees to become, and does hereby become, a Guarantor under the Guaranty and agrees to be bound by such Guaranty as if originally a party
thereto. By its execution below, the undersigned represents and warrants as to itself that all of the representations and warranties contained in Section 2 of the Guaranty are true and correct in all respects as of the date hereof. 

IN WITNESS WHEREOF, New Guarantor has executed and delivered this Annex I counterpart to the Guaranty as of this
     day of         , 20    . 
  

			
	[NAME OF NEW GUARANTOR]
		
	By:	 	  

	Its:	 	

  
 15 

 EXHIBIT G-1 
 FORM OF U.S. TAX CERTIFICATE 
 (For Non-U.S. Lenders That Are Not
Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement dated as of
December 23, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Semiconductor Components Industries, LLC (the “Borrower”), ON Semiconductor Corporation, the
Lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 
 Pursuant to the provisions of Section 2.17 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, (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code and (v) the interest payments in question are not effectively connected
with the undersigned’s conduct of a U.S. trade or business. 
 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. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

 

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Date:             ,
20[    ] 

 EXHIBIT G-2 
 FORM OF U.S. TAX CERTIFICATE 
 (For Non-U.S. Lenders That Are
Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement dated as of
December 23, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Semiconductor Components Industries, LLC (the “Borrower”), ON Semiconductor Corporation, the
Lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 
 Pursuant to the provisions of Section 2.17 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 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 this Credit Agreement, neither the undersigned nor any of its 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 partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the interest payments in question are not effectively connected with the undersigned’s or its partners/members’ conduct of a
U.S. trade or business. 
 The undersigned has furnished the Administrative Agent and the Borrower with IRS
Form W-8IMY accompanied by an IRS Form W-8BEN from each of its partners/members 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. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

 

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Date:             ,
20[    ] 

 EXHIBIT G-3 
 FORM OF U.S. TAX CERTIFICATE 
 (For Non-U.S. Participants That Are Not
Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement dated as of
December 23, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Semiconductor Components Industries, LLC (the “Borrower”), ON Semiconductor Corporation, the Lenders
party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 

Pursuant to the provisions of Section 2.17 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, (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest payments in question
are not effectively connected with the undersigned’s conduct of a U.S. trade or business. 
 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. 
 Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Date:             ,
20[    ] 

 EXHIBIT G-4 
 FORM OF U.S. TAX CERTIFICATE 
 (For Non-U.S. Participants That Are
Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement dated as of
December 23, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Semiconductor Components Industries, LLC (the “Borrower”), ON Semiconductor Corporation, the
Lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 
 Pursuant to the provisions of Section 2.17 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 partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the undersigned nor any of its 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 partners/members is a ten percent shareholder of the Borrower within the meaning of
Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the interest payments in question are not
effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business. 
 The
undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of its partners/members 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. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

 

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Date:             ,
20[    ] 

 EXHIBIT H 
 FORM OF COMPLIANCE CERTIFICATE 
 COMPLIANCE CERTIFICATE 

 

	To:	The Lenders parties to the 

	  	Credit Agreement Described Below 

This Compliance Certificate is furnished pursuant to that certain Credit Agreement dated as of December 23, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among Semiconductor Components Industries, LLC (the “Borrower”), ON Semiconductor Corporation (“Holdings”), the Lenders
party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). Unless otherwise defined herein, capitalized terms used in this Compliance Certificate have the meanings ascribed
thereto in the Agreement. 
 THE UNDERSIGNED HEREBY CERTIFIES THAT: 

1. I am the duly elected
                     of Holdings; 
 2. I have reviewed the terms of the Credit Agreement and I have made, or have caused to be made under my supervision, a detailed review of the transactions and conditions of Holdings, the Borrower and the
Subsidiaries during the accounting period covered by the attached financial statements [for quarterly or monthly financial statements add: and such financial statements present fairly in all material respects the financial condition and
results of operations of Holdings, the Borrower and the Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes]; 

3. The examinations described in paragraph 2 did not disclose, except as set forth below, and I have no knowledge of (i) the
existence of any Default which occurred and is continuing or (ii) any change in GAAP or in the application thereof that has occurred since the date of the audited financial statements referred to in Section 3.04 of the Credit Agreement;

 4. Schedule I attached hereto sets forth financial data and computations evidencing Holdings’ and the
Borrower’s compliance with certain covenants of the Credit Agreement, all of which data and computations are true, complete and correct; and 
 5. Schedule II hereto sets forth the computations necessary to determine the Applicable Rate commencing on the Business Day this certificate is delivered. 

Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the (i) nature of the condition or event, the
period during which it has existed and the action which Holdings has taken, is taking, or proposes to take with respect to each such condition or event or (ii) the change in GAAP or the application thereof and the effect of such change on the
attached financial statements: 
  
  

 
  
  

 

  
 1 

 The foregoing certifications, together with the computations set forth in Schedule I and
Schedule II hereto and the financial statements delivered with this Certificate in support hereof, are made and delivered this     day of             ,
        . 
  

			
	ON SEMICONDUCTOR CORPORATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 SCHEDULE I 
 Compliance as of                     ,         with 

Provisions of      and      of 

the Credit Agreement 

  
 2 

 SCHEDULE II 
 Applicable Rate Calculation 

  
 3 

 EXHIBIT I 
 FORM OF BORROWING REQUEST 
 JPMorgan Chase Bank, N.A., 

as Administrative Agent 
 for the Lenders referred to below 

[                    ] 

[                    ] 

Attention: [                    ] 

Fax: [                    ] 

 

	 	Re:	Semiconductor Components Industries, LLC 

 [Date] 
 Ladies and Gentlemen: 

Reference is made to the Credit Agreement dated as of December 23, 2011 (as the same may be amended, restated, supplemented or
otherwise modified from time to time), among Semiconductor Components Industries, LLC, a Delaware limited liability company (the “Borrower”), ON Semiconductor Corporation, a Delaware corporation, the financial institutions party
thereto from time to time as Lenders (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders. The Borrower hereby gives you notice
pursuant to Section 2.03 of the Credit Agreement that it requests a Revolving Borrowing under the Credit Agreement, and in that connection the Borrower specifies the following information with respect to such Revolving Borrowing requested
hereby: 
  

	1.	 Aggregate principal amount of Borrowing:1
                     

  

	2.	Date of Borrowing (which shall be a Business Day):
                     

  

	3.	Type of Borrowing (ABR or Eurocurrency):                     

  

	4.	 Interest Period and the last day thereof (if a Eurocurrency Borrowing):2
                     

  

	5.	Agreed Currency:                     

  

	6.	Location and number of Borrower’s account with the Administrative Agent or any other account agreed upon by the Administrative Agent and the Borrower to which
proceeds of Borrowing are to be disbursed:                      

The Borrower hereby represents and warrants that the conditions to lending specified in Section[s] [4.01 and] 3 4.02 of the Credit Agreement are satisfied as of the date hereof.

  
  

	1 	 Not less than applicable amounts specified in Section 2.02(c). 

	2 	 Which must comply with the definition of “Interest Period” and end not later than the Maturity Date. 

	3 	 To be included only upon Effective Date. 

 
			
	Very truly yours,
	
	SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC, as Borrower
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT J 
 FORM OF INTEREST ELECTION REQUEST 
 JPMorgan Chase Bank, N.A., 

as Administrative Agent 
 for the Lenders referred to below 

[                    ] 

[                    ] 

Attention: [                    ] 

Fax: [                    ] 

 

	 	Re:	Semiconductor Components Industries, LLC 

 [Date] 
 Ladies and Gentlemen: 

Reference is made to the Credit Agreement dated as of December 23, 2011 (as the same may be amended, restated, supplemented or
otherwise modified from time to time), among Semiconductor Components Industries, LLC, a Delaware limited liability company (the “Borrower”), ON Semiconductor Corporation, a Delaware corporation, the financial institutions party
thereto from time to time as Lenders (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders. The Borrower hereby gives you notice
pursuant to Section 2.08 of the Credit Agreement that it requests to [convert][continue] an existing Revolving Borrowing under the Credit Agreement, and in that connection the Borrower specifies the following information with respect to such
conversion requested hereby: 
  

	1.	List date, Type, principal amount, Agreed Currency and Interest Period (if applicable) of existing Borrowing:
                     

  

	2.	Aggregate principal amount of resulting Borrowing:
                     

  

	3.	Effective date of interest election (which shall be a Business Day):
                     

  

	4.	Type of Borrowing (ABR or Eurocurrency):                     

  

	5.	 Interest Period and the last day thereof (if a Eurocurrency Borrowing):1
                     

  

	6.	Agreed Currency:                     

  
  

	1 	 Which must comply with the definition of “Interest Period” and end not later than the Maturity Date. 

 
			
	Very truly yours,
	
	SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC, as Borrower
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT K 
 FORM OF PROMISSORY NOTE 
 Dated:
[            ], 2011 
 FOR VALUE RECEIVED, the undersigned,
Semiconductor Components Industries, LLC, a Delaware limited liability company (the “Borrower”), HEREBY UNCONDITIONALLY PROMISES TO PAY to the order of [LENDER] (the “Lender”) the aggregate unpaid Dollar Amount of
all Loans made by the Lender to the Borrower pursuant to the “Credit Agreement” (as defined below) on the Maturity Date or on such earlier date as may be required by the terms of the Credit Agreement. Capitalized terms used herein and not
otherwise defined herein are as defined in the Credit Agreement. 
 The undersigned Borrower promises to pay interest on the
unpaid principal amount of each Loan made to it from the date of such Loan until such principal amount is paid in full at a rate or rates per annum determined in accordance with the terms of the Credit Agreement. Interest hereunder is due and
payable at such times and on such dates as set forth in the Credit Agreement. 
 At the time of each Loan, and upon each payment
or prepayment of principal of each Loan, the Lender shall make a notation either on the schedule attached hereto and made a part hereof, or in such Lender’s own books and records, in each case specifying the amount of such Loan, the respective
Interest Period thereof (in the case of Eurocurrency Loans) or the amount of principal paid or prepaid with respect to such Loan, as applicable; provided that the failure of the Lender to make any such recordation or notation shall not affect
the Secured Obligations of the undersigned Borrower hereunder or under the Credit Agreement. 
 This Note is one of the notes
referred to in, and is entitled to the benefits of, that certain Credit Agreement dated as of December 23, 2011 by and among the Borrower, ON Semiconductor Corporation, a Delaware corporation, the financial institutions from time to time
parties thereto as Lenders and JPMorgan Chase Bank, N.A., as Administrative Agent (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). The Credit Agreement, among
other things, (i) provides for the making of Loans by the Lender to the undersigned Borrower from time to time in an aggregate principal amount not to exceed at any time outstanding the Dollar Amount of such Lender’s Commitment, the
indebtedness of the undersigned Borrower resulting from each such Loan to it being evidenced by this Note, and (ii) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events and also for prepayments
of the principal hereof prior to the maturity hereof upon the terms and conditions therein specified. 
 This Note is secured by
the Pledge Agreements. Reference is hereby made to the Pledge Agreements for a description of the collateral thereby mortgaged, warranted, bargained, sold, released, conveyed, assigned, transferred, pledged and hypothecated, the nature and extent of
the security for this Note, the rights of the holder of this Note, the Administrative Agent in respect of such security and otherwise. 
 Demand, presentment, protest and notice of nonpayment and protest are hereby waived by the Borrower. Whenever in this Note reference is made to the Administrative Agent, the Lender or the Borrower, such
reference shall be deemed to include, as applicable, a reference to their respective successors and assigns. The provisions of this Note shall be binding upon and shall inure to the benefit of said successors and assigns. The Borrower’s
successors and assigns shall include, without limitation, a receiver, trustee or debtor in possession of or for the Borrower. 

 This Note shall be construed in accordance with and governed by the law of the State of New
York. 
 [Signature Page Follows] 

 
			
	SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

 Note 

 SCHEDULE OF LOANS AND PAYMENTS OR PREPAYMENTS 

 

													
	 Date
	 	 Amount of

Loan
	 	 Type of

Loan Currency
	 	 Interest

Period/Rate
	 	 Amount of

Principal
 Paid
or
 Prepaid
	 	 Unpaid

Principal

Balance
	 	 Notation

Made By

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