Document:

jpm_cantaloupe-amende218

Execution Version  #153723541_v10  AMENDED AND RESTATED CREDIT AGREEMENT  dated as of  March 17, 2022,  among  CANTALOUPE, INC.,  The Loan Parties Party Hereto,  The Lenders Party Hereto  and  JPMORGAN CHASE BANK, N.A.,  as Administrative Agent  

 

   i  #153723541_v10  TABLE OF CONTENTS  Page  ARTICLE I Definitions ................................................................................................................................ 1  SECTION 1.01 Defined Terms ....................................................................................................... 1  SECTION 1.02 Classification of Loans and Borrowings .............................................................. 43  SECTION 1.03 Terms Generally .................................................................................................. 43  SECTION 1.04 Accounting Terms; GAAP ................................................................................... 44  SECTION 1.05 Interest Rates; Benchmark Notification ............................................................... 44  SECTION 1.06 Pro Forma Adjustments for Acquisitions and Dispositions ................................. 45  SECTION 1.07 Status of Obligations ............................................................................................ 45  SECTION 1.08 Rounding .............................................................................................................. 46  SECTION 1.09 Divisions .............................................................................................................. 46  SECTION 1.10 Letter of Credit Amounts ..................................................................................... 46  SECTION 1.11 Exchange Rates; Currency Equivalents ............................................................... 46  ARTICLE II The Credits ............................................................................................................................ 46  SECTION 2.01 Commitments ....................................................................................................... 46  SECTION 2.02 Loans and Borrowings ......................................................................................... 47  SECTION 2.03 Requests for Borrowings ..................................................................................... 48  SECTION 2.04 [Intentionally Omitted] ........................................................................................ 49  SECTION 2.05 Swingline Loans .................................................................................................. 49  SECTION 2.06 Letters of Credit ................................................................................................... 50  SECTION 2.07 Funding of Borrowings ........................................................................................ 56  SECTION 2.08 Interest Elections.................................................................................................. 56  SECTION 2.09 Termination, Reduction, and Increase of Commitments ..................................... 58  SECTION 2.10 Repayment and Amortization of Loans; Evidence of Debt ................................. 60  SECTION 2.11 Prepayment of Loans ........................................................................................... 62  SECTION 2.12 Fees ...................................................................................................................... 63  SECTION 2.13 Interest ................................................................................................................. 64  SECTION 2.14 Alternate Rate of Interest. .................................................................................... 65  SECTION 2.15 Increased Costs .................................................................................................... 69  SECTION 2.16 Break Funding Payments ..................................................................................... 71  SECTION 2.17 Taxes .................................................................................................................... 71  SECTION 2.18 Payments Generally; Allocation of Proceeds; Sharing of Set-offs ...................... 75  SECTION 2.19 Mitigation Obligations; Replacement of Lenders ................................................ 78  SECTION 2.20 Defaulting Lenders .............................................................................................. 79  SECTION 2.21 Returned Payments .............................................................................................. 81  SECTION 2.22 Banking Services and Swap Agreements ............................................................ 82  ARTICLE III Representations and Warranties ........................................................................................... 82  SECTION 3.01 Organization; Powers ........................................................................................... 82  SECTION 3.02 Authorization; Enforceability .............................................................................. 82  SECTION 3.03 Governmental Approvals; No Conflicts .............................................................. 83  SECTION 3.04 Financial Condition; No Material Adverse Change ............................................. 83  SECTION 3.05 Properties ............................................................................................................. 83  SECTION 3.06 Litigation and Environmental Matters ................................................................. 83  SECTION 3.07 Compliance with Laws and Agreements; No Default ......................................... 84  SECTION 3.08 Investment Company Status ................................................................................ 84  SECTION 3.09 Taxes .................................................................................................................... 84  SECTION 3.10 ERISA .................................................................................................................. 84  SECTION 3.11 Disclosure ............................................................................................................ 85  

 

   ii  #153723541_v10  SECTION 3.12 Material Agreements ............................................................................................ 85  SECTION 3.13 Solvency .............................................................................................................. 85  SECTION 3.14 Insurance .............................................................................................................. 86  SECTION 3.15 Capitalization and Subsidiaries ............................................................................ 86  SECTION 3.16 Security Interest in Collateral .............................................................................. 86  SECTION 3.17 Employment Matters ............................................................................................ 86  SECTION 3.18 Federal Reserve Regulations ............................................................................... 86  SECTION 3.19 Use of Proceeds ................................................................................................... 86  SECTION 3.20 No Burdensome Restrictions ............................................................................... 87  SECTION 3.21 Anti-Corruption Laws and Sanctions................................................................... 87  SECTION 3.22 EEA Financial Institutions ................................................................................... 87  ARTICLE IV Conditions ............................................................................................................................ 87  SECTION 4.01 Effective Date ...................................................................................................... 87  SECTION 4.02 Each Credit Event ................................................................................................ 89  ARTICLE V Affirmative Covenants .......................................................................................................... 90  SECTION 5.01 Financial Statements and Other Information ....................................................... 90  SECTION 5.02 Notices of Material Events .................................................................................. 92  SECTION 5.03 Existence; Conduct of Business ........................................................................... 93  SECTION 5.04 Payment of Obligations ....................................................................................... 93  SECTION 5.05 Maintenance of Properties ................................................................................... 94  SECTION 5.06 Books and Records; Inspection Rights ................................................................ 94  SECTION 5.07 Compliance with Laws and Material Contractual Obligations ............................ 94  SECTION 5.08 Use of Proceeds ................................................................................................... 94  SECTION 5.09 Accuracy of Information ...................................................................................... 95  SECTION 5.10 Insurance .............................................................................................................. 95  SECTION 5.11 Reserved .............................................................................................................. 95  SECTION 5.12 Casualty and Condemnation ................................................................................ 95  SECTION 5.13 Depository Banks ................................................................................................. 95  SECTION 5.14 Additional Collateral; Further Assurances ........................................................... 96  SECTION 5.15 Designation of Subsidiaries ................................................................................. 97  SECTION 5.16 Post-Closing Matters ............................................................................................ 98  ARTICLE VI Negative Covenants ............................................................................................................. 99  SECTION 6.01 Indebtedness ........................................................................................................ 99  SECTION 6.02 Liens .................................................................................................................. 100  SECTION 6.03 Fundamental Changes ........................................................................................ 102  SECTION 6.04 Investments, Loans, Advances, Guarantees and Acquisitions ........................... 102  SECTION 6.05 Asset Sales ......................................................................................................... 104  SECTION 6.06 Sale and Leaseback Transactions....................................................................... 105  SECTION 6.07 Swap Agreements .............................................................................................. 105  SECTION 6.08 Restricted Payments; Certain Payments of Indebtedness .................................. 105  SECTION 6.09 Transactions with Affiliates ............................................................................... 106  SECTION 6.10 Restrictive Agreements ...................................................................................... 107  SECTION 6.11 Amendment of Material Documents .................................................................. 107  SECTION 6.12 Financial Covenants ........................................................................................... 107  ARTICLE VII Events of Default .............................................................................................................. 107  ARTICLE VIII The Administrative Agent ............................................................................................... 111  SECTION 8.01 Authorization and Action ................................................................................... 111  SECTION 8.02 Administrative Agent’s Reliance, Indemnification, Etc .................................... 113  SECTION 8.03 Posting of Communications ............................................................................... 115  SECTION 8.04 The Administrative Agent Individually ............................................................. 116  SECTION 8.05 Successor Administrative Agent ........................................................................ 117  

 

   iii  #153723541_v10  SECTION 8.06 Acknowledgements of Lenders and Issuing Bank ............................................. 118  SECTION 8.07 Collateral Matters .............................................................................................. 120  SECTION 8.08 Credit Bidding ................................................................................................... 121  SECTION 8.09 Certain ERISA Matters ...................................................................................... 122  SECTION 8.10 Flood Laws ........................................................................................................ 123  ARTICLE IX Miscellaneous .................................................................................................................... 123  SECTION 9.01 Notices ............................................................................................................... 123  SECTION 9.02 Waivers; Amendments ....................................................................................... 125  SECTION 9.03 Expenses; Indemnity; Damage Waiver .............................................................. 128  SECTION 9.04 Successors and Assigns ..................................................................................... 130  SECTION 9.05 Survival .............................................................................................................. 134  SECTION 9.06 Counterparts; Integration; Effectiveness; Electronic Execution ........................ 134  SECTION 9.07 Severability ........................................................................................................ 135  SECTION 9.08 Right of Setoff ................................................................................................... 135  SECTION 9.09 Governing Law; Jurisdiction; Consent to Service of Process ............................ 136  SECTION 9.10 WAIVER OF JURY TRIAL .............................................................................. 137  SECTION 9.11 Headings ............................................................................................................ 137  SECTION 9.12 Confidentiality ................................................................................................... 137  SECTION 9.13 Several Obligations; Nonreliance; Violation of Law ......................................... 138  SECTION 9.14 USA PATRIOT Act ........................................................................................... 138  SECTION 9.15 Disclosure .......................................................................................................... 138  SECTION 9.16 Appointment for Perfection ............................................................................... 139  SECTION 9.17 Interest Rate Limitation ..................................................................................... 139  SECTION 9.18 No Fiduciary Duty, etc ....................................................................................... 139  SECTION 9.19 Marketing Consent ............................................................................................. 140  SECTION 9.20 Acknowledgement and Consent to Bail-In of EEA Financial Institutions ........ 140  SECTION 9.21 Acknowledgement Regarding Any Supported QFCs ........................................ 140  ARTICLE X Loan Guaranty ..................................................................................................................... 141  SECTION 10.01 Guaranty ............................................................................................................ 141  SECTION 10.02 Guaranty of Payment ......................................................................................... 142  SECTION 10.03 No Discharge or Diminishment of Loan Guaranty ............................................ 142  SECTION 10.04 Defenses Waived ............................................................................................... 143  SECTION 10.05 Rights of Subrogation ........................................................................................ 143  SECTION 10.06 Reinstatement; Stay of Acceleration .................................................................. 143  SECTION 10.07 Information ........................................................................................................ 143  SECTION 10.08 Termination ........................................................................................................ 144  SECTION 10.09 [Reserved ........................................................................................................... 144  SECTION 10.10 Maximum Liability ............................................................................................ 144  SECTION 10.11 Contribution ....................................................................................................... 144  SECTION 10.12 Liability Cumulative .......................................................................................... 145  SECTION 10.13 Keepwell ............................................................................................................ 145  ARTICLE XI ............................................................................................................................................ 145      

 

   iv  #153723541_v10  SCHEDULES:  Commitment Schedule  Schedule 3.05 – Properties, etc.  Schedule 3.06 – Disclosed Matters  Schedule 3.09 – Taxes  Schedule 3.12 – Material Agreements  Schedule 3.14 – Insurance  Schedule 3.15 – Capitalization and Subsidiaries  Schedule 6.01 – Existing Indebtedness  Schedule 6.02 – Existing Liens  Schedule 6.04 – Existing Investments  Schedule 6.10 – Existing Restrictions  EXHIBITS:  Exhibit A – Assignment and Assumption  Exhibit B-1 – Borrowing Request   Exhibit B-2 – Interest Election Request   Exhibit C-1 – U.S. Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships  For U.S. Federal Income Tax Purposes)  Exhibit C-2 – U.S. Tax Compliance Certificate (For Foreign Participants That Are Not  Partnerships For U.S. Federal Income Tax Purposes)  Exhibit C-3 – U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships  For U.S. Federal Income Tax Purposes)  Exhibit C-4 – U.S. Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For  U.S. Federal Income Tax Purposes)  Exhibit D – Compliance Certificate  Exhibit E – Joinder Agreement  

 

1 #153723541_v10 AMENDED AND RESTATED CREDIT AGREEMENT dated as of March 17, 2022 (as  it may be amended or modified from time to time, this “Agreement”), among  CANTALOUPE, INC., a Pennsylvania corporation (f/k/a USA Technologies, Inc.) (the  “Borrower”), the other Loan Parties party hereto, the Lenders party hereto, and  JPMORGAN CHASE BANK, N.A., as Administrative Agent.  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:  “Account” has the meaning assigned to such term in the Security Agreement.  “Account Debtor” means any Person obligated on an Account.  “Acquisition” means any transaction, or any series of related transactions, consummated  on or after the Effective Date, by which any Loan Party or Subsidiary (a) acquires any going  business, line of business or division or all or substantially all of the assets of any Person, whether  through purchase of assets, merger or otherwise or (b) directly or indirectly acquires (in one  transaction or as the most recent transaction in a series of transactions) at least a majority (in  number of votes) of the Equity Interests of a Person which has ordinary voting power for the  election of directors or other similar management personnel of a Person (other than Equity Interests  having such power only by reason of the happening of a contingency) or a majority of the  outstanding Equity Interests of a Person.  “Adjusted Daily Simple RFR” means, (i) with respect to any RFR Borrowing denominated  in Sterling, an interest rate per annum equal to (a) the Daily Simple RFR for Sterling, plus (b)  0.0326%, and (ii) with respect to any RFR Borrowing denominated in Dollars, an interest rate per  annum equal to (a) the Daily Simple RFR for Dollars, plus (b) 0.10%; provided that if the Adjusted  Daily Simple RFR Rate as so determined would be less than the Floor, such rate shall be deemed  to be equal to the Floor for the purposes of this Agreement.  “Adjusted EURIBOR Rate” means, with respect to any Term Benchmark Borrowing  denominated in Euros for any Interest Period, an interest rate per annum equal to (a)  the EURIBOR  Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided that if the  Adjusted EURIBOR Rate as so determined would be less than the Floor, such rate shall be deemed  to be equal to the Floor for the purposes of this Agreement.  “Adjusted Term SOFR Rate” means, with respect to any Term Benchmark Borrowing  denominated in Dollars for any Interest Period, an interest rate per annum equal to (a) the Term  SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term SOFR  Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the  Floor  for the purposes of this Agreement.  

 

   2  #153723541_v10   “Adjusted TIBOR Rate” means, with respect to any Term Benchmark Borrowing  denominated in Yen for any Interest Period, an interest rate per annum equal to (a) the TIBOR  Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided that if the  Adjusted TIBOR Rate as so determined would be less than the Floor, such rate shall be deemed to  be equal to the Floor for the purposes of this Agreement.  “Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as  administrative agent for the Lenders hereunder.  “Administrative Questionnaire” means an Administrative Questionnaire in a form  supplied by the Administrative Agent.  “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK  Financial Institution.  “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 specified Person.  “Agent Indemnitee” has the meaning assigned to it in Section 9.03(c).  “Agreed Currencies” means Dollars and each Alternative Currency.  “Aggregate Credit Exposure” means, at any time, the aggregate Credit Exposure of all the  Lenders at such time.  “Aggregate Revolving Exposure” means, at any time, the aggregate Revolving Exposure  of all the Lenders at such time (with the Swingline Exposure of each Lender calculated assuming  that all of the Lenders have funded their participations in all Swingline Loans outstanding at such  time).  “ALTA” means the American Land Title Association.  “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 NYFRB Rate in effect on such day plus 1⁄2 of 1% and (c)  the Adjusted Term SOFR Rate for a one month Interest Period as published two U.S. Government  Securities Business Days prior to such day (or if such day is not a Business Day, the immediately  preceding Business Day) plus 1%; provided that for the purpose of this definition, the Adjusted  Term SOFR Rate for any day shall be based on the Term SOFR Reference Rate at approximately  5:00 a.m. Chicago time on such day (or any amended publication time for the Term SOFR  Reference Rate, as specified by the CME Term SOFR Administrator in the Term SOFR Reference  Rate methodology).  Any change in the Alternate Base Rate due to a change in the Prime Rate, the  NYFRB Rate or the Adjusted Term SOFR Rate shall be effective from and including the effective  date of such change in the Prime Rate, the NYFRB Rate or the Adjusted Term SOFR Rate,  respectively.  If the Alternate Base Rate is being used as an alternate rate of interest pursuant to  Section 2.14 (for the avoidance of doubt, only until the Benchmark Replacement has been  determined pursuant to Section 2.14(b)), then the Alternate Base Rate shall be the greater of  clauses (a) and (b) above and shall be determined without reference to clause (c) above.  For the  

 

   3  #153723541_v10  avoidance of doubt, if the Alternate Base Rate as determined pursuant to the foregoing would be  less than 1.00%, such rate shall be deemed to be 1.00% for purposes of this Agreement.   “Alternative Currency” means Sterling, Euros, Yen and any additional currencies  determined after the Effective Date by mutual agreement of the Borrower, Lenders, Issuing Bank  and Administrative Agent; provided that each such currency is a lawful currency that is readily  available, freely transferable and not restricted and able to be converted into Dollars.  “Amortization Reset Date” means June 30, 2023.  “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction  applicable to the Borrower or any of its Subsidiaries from time to time concerning or relating to  bribery or corruption.  “Applicable Parties” has the meaning assigned to it in Section 8.03(c).  “Applicable Percentage” means, at any time with respect to any Lender, a percentage equal  to a fraction the numerator of which is such Lender’s Revolving Commitment at such time and the  denominator of which is the aggregate Revolving Commitments at such time (provided that, if the  Revolving Commitments have terminated or expired, the Applicable Percentages shall be  determined based upon such Lender’s share of the Aggregate Revolving Exposure at such time);  provided that, in accordance with Section 2.20, so long as any Lender shall be a Defaulting Lender,  such Defaulting Lender’s Commitment shall be disregarded in the calculations above.  “Applicable Rate” means, for any day, with respect to any 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 “ABR Spread”, “Term Benchmark Spread”, “RFR Spread”, or  “Commitment Fee Rate”, as the case may be, based upon the Borrower’s Total Leverage Ratio as  of the most recent determination date, provided that until June 30, 2022, the “Applicable Rate”  shall be the applicable rates per annum set forth below in Category 2:    Total  Leverage  Ratio    ABR Spread Term  Benchmark  Spread  RFR Spread Commitment  Fee Rate  Category 1  ≥ 2.0 to 1.0    3.00% 4.00% 4.00% 0.50%  Category 2  ≥ 1.0 to 1.0   but  < 2.0 to 1.0    2.75% 3.75% 3.75% 0.50%  Category 3  < 1.0 to 1.0    2.50% 3.50% 3.50% 0.50%    

 

   4  #153723541_v10  Anything in the foregoing table to the contrary notwithstanding, if (x) a Material Acquisition  occurs after the Effective Date and (y) for so long as the Total Leverage Ratio is greater than 3.0  to 1.0, then each of the foregoing percentages in Category 1 (other than the Commitment Fee Rate)  shall be increased by 0.25%.     For purposes of the foregoing, (a) the Applicable Rate shall be determined as of the end of each  fiscal quarter of the Borrower, based upon the Borrower’s annual or quarterly consolidated  financial statements delivered pursuant to Section 5.01 and (b) each change in the Applicable Rate  resulting from a change in the Total Leverage Ratio shall be effective during the period  commencing on and including the date of delivery to the Administrative Agent of such  consolidated financial statements indicating such change and ending on the date immediately  preceding the effective date of the next such change, provided that at the option of the  Administrative Agent or at the request of the Required Lenders, if the Borrower fails to deliver the  annual or quarterly consolidated financial statements required to be delivered by it pursuant to  Section 5.01, the Total Leverage Ratio shall be deemed to be in Category 1 during the period from  the expiration of the time for delivery thereof until such consolidated financial statements are  delivered.  If at any time the Administrative Agent determines that the financial statements upon which the  Applicable Rate was determined were incorrect (whether based on a restatement, fraud or  otherwise), or any ratio or compliance information in a Compliance Certificate or other  certification was incorrectly calculated, relied on incorrect information or was otherwise not  accurate, true or correct, the Borrower shall be required to retroactively pay any additional amount  that the Borrower would have been required to pay if such financial statements, Compliance  Certificate or other information had been accurate and/or computed correctly at the time they were  delivered.     “Applicable Time” means, with respect to any Borrowings and payments in any Alternative  Currency, the local time in the place of settlement for such Alternative Currency as may be  determined by the Administrative Agent or the Issuing Bank, as the case may be, to be necessary  for timely settlement on the relevant date in accordance with normal banking procedures in the  place of payment.     “Approved Electronic Platform” has the meaning assigned to it in Section 8.03(a).      “Approved Fund” has the meaning assigned to the term in Section 9.04(b).    “Arranger” means JPMorgan Chase Bank, N.A., in its capacity as sole bookrunner and  sole lead arranger hereunder.   “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 (including electronic records generated by the use of an electronic platform) approved by the  Administrative Agent.  

 

   5  #153723541_v10  “Availability” means, at any time, an amount equal to (a) the aggregate Revolving  Commitments minus (b) the Aggregate Revolving Exposure (calculated, with respect to any  Defaulting Lender, as if such Defaulting Lender had funded its Applicable Percentage of all  outstanding Borrowings).  “Availability Period” means the period from and including the Effective Date to but  excluding the earlier of the Revolving Credit Maturity Date and the date of termination of the  Revolving Commitments.  “Available Tenor” means, as of any date of determination and with respect to the then- current Benchmark for any Agreed Currency, as applicable, any tenor for such Benchmark (or  component thereof) or payment period for interest calculated with reference to such Benchmark  (or component thereof), as applicable, that is or may be used for determining the length of an  Interest Period for any term rate or otherwise, for determining any frequency of making payments  of interest calculated pursuant to this Agreement as of such date and not including, for the  avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of  “Interest Period” pursuant to clause (e) of Section 2.14.  “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the  applicable Resolution Authority in respect of any liability of an Affected Financial Institution.  “Bail-In Legislation” means, (a) with respect to any EEA Member Country implementing  Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European  Union, the implementing law, regulation, rule or requirement for such EEA Member Country from  time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the  United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time)  and any other law, regulation or rule applicable in the United Kingdom relating to the resolution  of unsound or failing banks, investment firms or other financial institutions or their affiliates (other  than through liquidation, administration or other insolvency proceedings).   “Banking Services” means each and any of the following bank services provided to any  Loan Party or any Subsidiary by the Administrative Agent, any Lender or any of their respective  Affiliates: (a) credit cards for commercial customers (including, without limitation, “commercial  credit cards” and purchasing cards), (b) stored value cards, (c) merchant processing services, and  (d) treasury management services (including, without limitation, controlled disbursement,  automated clearinghouse transactions, return items, any direct debit scheme or arrangement,  overdrafts and interstate depository network services).  “Banking Services Obligations” means any and all obligations of the Loan Parties or their  Subsidiaries, 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, when such Person becomes the  subject of a voluntary or involuntary 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  

 

   6  #153723541_v10  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 or has had any  order for relief in such proceeding entered in respect thereof, 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, unless such  ownership interest results in or provides such Person with immunity from the jurisdiction of courts  within the U.S. or from the enforcement of judgments or writs of attachment on its assets or permits  such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or  disaffirm any contracts or agreements made by such Person.  “Benchmark” means, initially, with respect to any (i) RFR Loan in any Agreed Currency,  the applicable Relevant Rate for such Agreed Currency or (ii) Term Benchmark Loan, the Relevant  Rate for such Agreed Currency; provided that if a Benchmark Transition Event, and the related  Benchmark Replacement Date have occurred with respect to the applicable Relevant Rate or the  then-current Benchmark for such Agreed Currency, then “Benchmark” means the applicable  Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior  benchmark rate pursuant to clause (b) of Section 2.14.  “Benchmark Replacement” means, for any Available Tenor, the first alternative set forth  in the order below that can be determined by the Administrative Agent for the applicable  Benchmark Replacement Date; provided that, in the case of any Loan denominated in an  Alternative Currency, “Benchmark Replacement” shall mean the alternative set forth in (2) below:  (1) in the case of any Loan denominated in Dollars, the Adjusted Daily Simple SOFR;  (2) the sum of: (a) the alternate benchmark rate that has been selected by the  Administrative Agent and the Borrower as the replacement for the then-current Benchmark for the  applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation  of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant  Governmental Body or (ii) any evolving or then-prevailing market convention for determining a  benchmark rate as a replacement for the then-current Benchmark for syndicated credit facilities  denominated in the applicable Agreed Currency at such time in the United States and (b) the related  Benchmark Replacement Adjustment;  If the Benchmark Replacement as determined pursuant to clause (1) or (2) above would be  less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes  of this Agreement and the other Loan Documents.  “Benchmark Replacement Adjustment” means, with respect to any replacement of the  then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest  Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement, the  spread adjustment, or method for calculating or determining such spread adjustment, (which may  be a positive or negative value or zero) that has been selected by the Administrative Agent and the  Borrower for the applicable Corresponding Tenor giving due consideration to (i) any selection or  recommendation of a spread adjustment, or method for calculating or determining such spread  adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark  Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date  

 

   7  #153723541_v10  and/or (ii) any evolving or then-prevailing market convention for determining a spread adjustment,  or method for calculating or determining such spread adjustment, for the replacement of such  Benchmark with the applicable Unadjusted Benchmark Replacement for syndicated credit  facilities denominated in the applicable Agreed Currency at such time.  “Benchmark Replacement Conforming Changes” means, with respect to any Benchmark  Replacement and/or any Term Benchmark Revolving Loan denominated in Dollars, any technical,  administrative or operational changes (including changes to the definition of “Alternate Base  Rate,” the definition of “Business Day,” the definition of “U.S. Government Securities Business  Day,” the definition of “RFR Business Day,” the definition of “Interest Period,” timing and  frequency of determining rates and making payments of interest, timing of borrowing requests or  prepayment, conversion or continuation notices, length of lookback periods, the applicability of  breakage provisions, and other technical, administrative or operational matters) that the  Administrative Agent decides in its reasonable discretion may be appropriate to reflect the  adoption and implementation of such Benchmark and to permit the administration thereof by the  Administrative Agent in a manner substantially consistent with market practice (or, if the  Administrative Agent decides that adoption of any portion of such market practice is not  administratively feasible or if the Administrative Agent determines that no market practice for the  administration of such Benchmark exists, in such other manner of administration as the  Administrative Agent decides is reasonably necessary in connection with the administration of this  Agreement and the other Loan Documents).  “Benchmark Replacement Date” means, with respect to any Benchmark, the earliest to  occur of the following events with respect to such then-current Benchmark:  (1) in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,”  the later of (a) the date of the public statement or publication of information referenced therein and  (b) the date on which the administrator of such Benchmark (or the published component used in  the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such  Benchmark (or such component thereof); or  (2) in the case of clause (3) of the definition of “Benchmark Transition Event,” the first  date on which such Benchmark (or the published component used in the calculation thereof) has  been determined and announced by the regulatory supervisor for the administrator of such  Benchmark (or such component thereof) to be no longer representative; provided, that such non- representativeness will be determined by reference to the most recent statement or publication  referenced in such clause (c) and even if any Available Tenor of such Benchmark (or such  component thereof) continues to be provided on such date.  For the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date  occurs on the same day as, but earlier than, the Reference Time in respect of any determination,  the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time  for such determination and (ii) the “Benchmark Replacement Date” will be deemed to have  occurred in the case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the  applicable event or events set forth therein with respect to all then-current Available Tenors of  such Benchmark (or the published component used in the calculation thereof).  

 

   8  #153723541_v10  “Benchmark Transition Event” means, with respect to any Benchmark, the occurrence of  one or more of the following events with respect to such then-current Benchmark:  (1) a public statement or publication of information by or on behalf of the administrator of  such Benchmark (or the published component used in the calculation thereof) announcing that  such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or  such component thereof), permanently or indefinitely, provided that, at the time of such statement  or publication, there is no successor administrator that will continue to provide any Available  Tenor of such Benchmark (or such component thereof);  (2) a public statement or publication of information by the regulatory supervisor for the  administrator of such Benchmark (or the published component used in the calculation thereof), the  Federal Reserve Board, the NYFRB, the CME Term SOFR Administrator, the central bank for the  Agreed Currency applicable to such Benchmark, an insolvency official with jurisdiction over the  administrator for such Benchmark (or such component), a resolution authority with jurisdiction  over the administrator for such Benchmark (or such component) or a court or an entity with similar  insolvency or resolution authority over the administrator for such Benchmark (or such component),  in each case, which states that the administrator of such Benchmark (or such component) has  ceased or will cease to provide all Available Tenors of such Benchmark (or such component  thereof) permanently or indefinitely; provided that, at the time of such statement or publication,  there is no successor administrator that will continue to provide any Available Tenor of such  Benchmark (or such component thereof); or  (3) a public statement or publication of information by the regulatory supervisor for the  administrator of such Benchmark (or the published component used in the calculation thereof)  announcing that all Available Tenors of such Benchmark (or such component thereof) are no  longer, or as of a specified future date will no longer be, representative.  For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have  occurred with respect to any Benchmark if a public statement or publication of information set  forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or  the published component used in the calculation thereof).  “Benchmark Unavailability Period” means, with respect to any Benchmark, the period (if  any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clauses (1) or (2)  of that definition has occurred if, at such time, no Benchmark Replacement has replaced such then- current Benchmark for all purposes hereunder and under any Loan Document in accordance with  Section 2.14 and (y) ending at the time that a Benchmark Replacement has replaced such then- current Benchmark for all purposes hereunder and under any Loan Document in accordance with  Section 2.14.   “Beneficial Ownership Certification” means a certification regarding beneficial  ownership or control as required by the Beneficial Ownership Regulation.     “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.     

 

   9  #153723541_v10  “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in Section 3(3) of  ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code to  which Section 4975 of the Code applies, and (c) any Person whose assets include (for purposes of  the Plan Asset Regulations or otherwise for purposes of Title I of ERISA or Section 4975 of the  Code) the assets of any such “employee benefit plan” or “plan”.  “BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and  interpreted in accordance with, 12 U.S.C. 1841 (k)) of such party.  “Board” means the Board of Governors of the Federal Reserve System of the U.S.  “Borrower” means Cantaloupe, Inc., a Pennsylvania corporation (f/k/a USA Technologies,  Inc.).  “Borrowing” means (a) Revolving Loans of the same Type and Agreed Currency, made,  converted or continued on the same date and, in the case of Term Benchmark Loans, as to which  a single Interest Period is in effect, (b) Term Loans of the same Type made, converted or continued  on the same date and, in the case of Term Benchmark Loans, as to which a single Interest Period  is in effect, and (c) a Swingline Loan.  “Borrowing Request” means a request by the Borrower for a Borrowing in accordance  with Section 2.03, which shall be substantially in the form of Exhibit B-1 hereto or any other form  approved by the Administrative Agent.  “Burdensome Restrictions” means any consensual encumbrance or restriction of the type  described in clause (a) or (b) of Section 6.10.  “Business Day” means, any day (other than a Saturday or a Sunday) on which banks are  open for business in New York City or Chicago; provided that, (a) in relation to Loans  denominated in Sterling, any day (other than a Saturday or a Sunday) on which banks are open for  business in London, (b) in relation to Loans denominated in Yen and in relation to the calculation  or computation of TIBOR or the Japanese Prime Rate, any day (other than a Saturday or a Sunday)  on which banks are open for business in Japan, (c) in relation to Loans denominated in Euros and  in relation to the calculation or computation of EURIBOR, any day which is a TARGET Day and  (d) in relation to RFR Loans and any interest rate settings, fundings, disbursements, settlements or  payments of any such RFR Loan, or any other dealings in the applicable Agreed Currency of such  RFR Loan, any such day that is only an RFR Business Day.  “Capital Expenditures” means, without duplication, any expenditure or commitment to  expend money for any purchase or other acquisition of any asset which would be classified as a  fixed or capital asset on a consolidated balance sheet of the Borrower and its Subsidiaries prepared  in accordance with GAAP.  “Capital Lease Obligations” of any Person means the obligations of such Person to pay  rent or other amounts under any lease of (or other arrangement conveying the right to use) real or  personal property, or a combination thereof, which obligations are required to be classified and  accounted for as capital leases or financing leases on a balance sheet of such Person under GAAP,  

 

   10  #153723541_v10  and the amount of such obligations shall be the capitalized amount thereof determined in  accordance with GAAP.  “CBR Loan” means a Loan that bears interest at a rate determined by reference to the  Central Bank Rate or the Japanese Prime Rate.   “CBR Spread” means the Applicable Rate, applicable to such Loan that is replaced by a  CBR Loan.  “Central Bank Rate” means, (A) the greater of (i) for any Loan denominated in (a)  Sterling, the Bank of England (or any successor thereto)’s “Bank Rate” as published by the Bank  of England (or any successor thereto) from time to time, (b) Euro, one of the following three rates  as may be selected by the Administrative Agent in its reasonable discretion: (1) the fixed rate for  the main refinancing operations of the European Central Bank (or any successor thereto), or, if  that rate is not published, the minimum bid rate for the main refinancing operations of the European  Central Bank (or any successor thereto), each as published by the European Central Bank (or any  successor thereto) from time to time, (2) the rate for the marginal lending facility of the European  Central Bank (or any successor thereto), as published by the European Central Bank (or any  successor thereto) from time to time or (3) the rate for the deposit facility of the central banking  system of the Participating Member States, as published by the European Central Bank (or any  successor thereto) from time to time, and (c) any other Alternative Currency determined after the  Effective Date, a central bank rate as determined by the Administrative Agent in its reasonable  discretion and (ii) the Floor; plus (B) the applicable Central Bank Rate Adjustment.   “Central Bank Rate Adjustment” means, for any day, for any Loan denominated in (a)  Euro, a rate equal to the difference (which may be a positive or negative value or zero) of (i) the  average of the Adjusted EURIBOR Rate for the five most recent Business Days preceding such  day for which the EURIBOR Screen Rate was available (excluding, from such averaging, the  highest and the lowest Adjusted EURIBOR Rate applicable during such period of five Business  Days) minus (ii) the Central Bank Rate in respect of Euro in effect on the last Business Day in  such period, (b) Sterling, a rate equal to the difference (which may be a positive or negative value  or zero) of (i) the average of Adjusted Daily Simple RFR for Sterling Borrowings for the five most  recent RFR Business Days preceding such day for which SONIA was available (excluding, from  such averaging, the highest and the lowest such Adjusted Daily Simple RFR applicable during  such period of five RFR Business Days) minus (ii) the Central Bank Rate in respect of Sterling in  effect on the last RFR Business Day in such period, and (c) any other Alternative Currency  determined after the Effective Date, a Central Bank Rate Adjustment as determined by the  Administrative Agent in its reasonable discretion. For purposes of this definition, (x) the term  Central Bank Rate shall be determined disregarding clause (B) of the definition of such term and  (y) the EURIBOR Rate on any day shall be based on the EURIBOR Screen Rate on such day at  approximately the time referred to in the definition of such term for deposits in the applicable  Agreed Currency for a maturity of one month.  “Change in Control” means (a) 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 date hereof), of Equity Interests  representing more than 35% of the aggregate ordinary voting power represented by the issued and  

 

   11  #153723541_v10  outstanding Equity Interests of the Borrower; (b) except as a result of transactions permitted by  this Agreement, the Borrower shall cease to own, free and clear of all Liens or other encumbrances,  directly or indirectly, 100% of the outstanding voting Equity Interests of any Subsidiary of the  Borrower on a fully diluted basis and all voting rights and equivalent economic interests with  respect thereto; or (c) at any time, a “Change of Control” (or similar event, however characterized)  as defined in the documentation governing any Material Indebtedness shall have occurred.  “Change in Law” means the occurrence after the date of this Agreement (or, with respect  to any Lender, such later date on which such Lender becomes a party to this Agreement) of any of  the following: (a) the adoption of or taking effect of any law, rule, regulation or treaty, (b) any  change in any law, rule, regulation or treaty or in the administration, interpretation, implementation  or application thereof by any Governmental Authority or (c) compliance by any Lender or the  Issuing Bank (or, for purposes of Section 2.15(b), by any lending office of such Lender or by such  Lender’s or the Issuing Bank’s holding company, if any) with any request, guideline, requirement  or directive (whether or not having the force of law) of any Governmental Authority made or  issued after the date of this Agreement; provided that, notwithstanding anything herein to the  contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,  rules, guidelines, requirements or directives thereunder or issued in connection therewith or in the  implementation thereof, and (y) all requests, rules, guidelines, requirements or directives  promulgated by the Bank for International Settlements, the Basel Committee on Banking  Supervision (or any successor or similar authority) or the U.S. 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.  “Charges” has the meaning assigned to such term in Section 9.17.  “Class”, when used in reference to (a) any Loan or Borrowing, refers to whether such Loan,  or the Loans comprising such Borrowing, are Revolving Loans, a Term A Loan, or Swingline  Loans, (b) any Commitment, refers to whether such Commitment is a Revolving Commitment or  a Term A Commitment, and (c) any Lender, refers to whether such Lender has a Loan or  Commitment of a particular Class.  “CME Term SOFR Administrator” means CME Group Benchmark Administration  Limited as administrator of the forward-looking term Secured Overnight Financing Rate (SOFR)  (or a successor administrator).  “Code” means the Internal Revenue Code of 1986, as amended from time to time.  “Collateral” means any and all property owned, leased or operated by a Person covered by  the Collateral Documents and any and all other property of any Loan Party, now existing or  hereafter acquired, that is or required to be, subject to a security interest or Lien in favor of the  Administrative Agent, on behalf of itself and the Lenders and other Secured Parties, to secure the  Secured Obligations; provided that Collateral shall not include (i) the capital stock of a controlled  foreign corporation (as defined in the Code), in excess of sixty five percent (65%) of the voting  power of all classes of capital stock of such controlled foreign corporations entitled to vote or (ii)  the assets of any Foreign Subsidiary.  

 

   12  #153723541_v10  “Collateral Access Agreement” has the meaning assigned to such term in the Security  Agreement.  “Collateral Documents” means, collectively, the Security Agreement, any Mortgages and  any other agreements, instruments and documents executed in connection with this Agreement  that are intended to create, grant, or perfect Liens to secure the Secured Obligations, including,  without limitation, all other security agreements, pledge agreements, mortgages, and deeds of trust,  now or hereafter executed by any Loan Party and delivered to the Administrative Agent for the  benefit of the Secured Parties.  “Commitment” means, with respect to each Lender, the sum of such Lender’s Revolving  Commitment and Term Commitments.  The initial amount of each Lender’s Commitment is set  forth on the Commitment Schedule, or in the Assignment and Assumption or other documentation  or record (as such term is defined in Section 9-102(a)(70) of the New York Uniform Commercial  Code) as provided in Section 9.04(b)(ii)(C), pursuant to which such Lender shall have assumed its  Commitment, as applicable.  “Commitment Schedule” means the Schedule attached hereto identified as such.  “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.),  as amended from time to time, and any successor statute.  “Communications” means, collectively, any notice, demand, communication, information,  document or other material provided by or on behalf of any Loan Party pursuant to any Loan  Document or the transactions contemplated therein which is distributed by the Administrative  Agent, any Lender or the Issuing Bank by means of electronic communications pursuant to this  Section, including through an Electronic System.  “Compliance Certificate” means a certificate of a Financial Officer in substantially the  form of Exhibit E.   “Connection Income Taxes” means Other Connection Taxes that are imposed on or  measured by net income (however denominated) or that are franchise Taxes or branch profits  Taxes.  “Control” means the possession, directly or indirectly, of the power to direct or cause the  direction of the management or policies of a Person, whether through the ability to exercise voting  power, by contract or otherwise.  “Controlling” and “Controlled” have meanings correlative  thereto.  “Corresponding Tenor” with respect to any Available Tenor means, as applicable, either  a tenor (including overnight) or an interest payment period having approximately the same length  (disregarding business day adjustment) as such Available Tenor.  “Covered Entity” means any of the following:  (a) a “covered entity” as that term is defined in, and interpreted in accordance with, 12  C.F.R. § 252.82(b);  

 

   13  #153723541_v10  (b) a “covered bank” as that term is defined in, and interpreted in accordance with, 12  C.F.R. § 47.3(b); or  (c) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12  C.F.R. § 382.2(b).  “Credit Exposure” means, as to any Lender at any time, the sum of (a) such Lender’s  Revolving Exposure at such time plus (b) an amount equal to the aggregate principal amount of  its Term Loans outstanding at such time.  “Credit Party” means the Administrative Agent, the Issuing Bank, the Swingline Lender  or any other Lender.  “Daily Simple RFR” means, for any day (an “RFR Interest Day”), an interest rate per  annum equal to, for any RFR Loan denominated in (i) Sterling, SONIA for the day that is 5 RFR  Business Days prior to (A) if such RFR Interest Day is an RFR Business Day, such RFR Interest  Day or (B) if such RFR Interest Day is not an RFR Business Day, the RFR Business Day  immediately preceding such RFR Interest Day, and (ii) Dollars, Daily Simple SOFR.   “Daily Simple SOFR” means, for any day (a “SOFR Rate Day”), a rate per annum equal  to SOFR for the day (such day “SOFR Determination Date”) that is five (5) RFR Business Days  prior to (i) if such SOFR Rate Day is an RFR Business Day, such SOFR Rate Day or (ii) if such  SOFR Rate Day is not an RFR Business Day, the RFR Business Day immediately preceding such  SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR  Administrator’s Website.  Any change in Daily Simple SOFR due to a change in SOFR shall be  effective from and including the effective date of such change in SOFR without notice to the  Borrower.  “Default” means any event or condition which constitutes an Event of Default or which  upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.  “Default Right” has the meaning assigned to that term in, and shall be interpreted in  accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.  “Defaulting Lender” means any Lender that (a) has failed, within two 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 the Borrower 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 Business Days after request by a  Credit Party or the Borrower, acting in good faith, to provide a certification in writing from an  

 

   14  #153723541_v10  authorized officer of such Lender that it will comply with its obligations (and is financially able to  meet such obligations as of the date of certification) 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 or the Borrower’s receipt of such certification in form and substance satisfactory to it and  the Administrative Agent or the Borrower, as the case may be, or (d) has become the subject of (i)  a Bankruptcy Event or (ii) a Bail-In Action.    “Disclosed Matters” means the actions, suits, proceedings and environmental matters  disclosed in Schedule 3.06.  “Disqualified Equity Interests” means, with respect to any Person, any Equity Interest that  by its terms (or by the terms of any other Equity Interest into which it is convertible or  exchangeable) or otherwise (a) matures or is subject to mandatory redemption or repurchase (other  than solely for Equity Interests that are not Disqualified Equity Interests) pursuant to a sinking  fund obligation or otherwise (except as a result of a change of control or asset sale so long as any  rights of the holder thereof upon the occurrence of a change of control or asset sale event shall be  subject to the full and final payment and performance of the Obligations and the termination of the  Commitments and any and all of Lender’s obligations to extent credit or make final  accommodations to Borrower hereunder); (b) is convertible into or exchangeable or exercisable  for Indebtedness or any Disqualified Equity Interest, at the option of the holder thereof; (c) may  be required to be redeemed or repurchased at the option of the holder thereof (other than solely for  Equity Interests that are not Disqualified Equity Interests), in whole or in part, in each case on or  before the date that is one-hundred eighty (180) days after the latest Maturity Date; or (d) provides  for scheduled payments of dividends to be made in cash, provided that if such Equity Interests are  issued pursuant to a plan for the benefit of future, current or former employees, directors or officers  of the Borrower or any other Loan Party or by any such plan to such employees, directors or  officers, such Equity Interests shall not constitute Disqualified Equity Interests solely because it  may be required to be repurchased by the Borrower or any other Loan Party in order to satisfy  applicable statutory or regulatory obligations or as a result of such employee’s, director’s or  officer’s termination, death or disability.  “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (in  one transaction or in a series of transactions and whether effected pursuant to a Division or  otherwise) of any property by any Person (including any sale and leaseback transaction and any  issuance of Equity Interests by a Subsidiary of such Person), including any sale, assignment,  transfer or other disposal, with or without recourse, of any notes or accounts receivable or any  rights and claims associated therewith.  “Dividing Person” has the meaning assigned to it in the definition of “Division.”   “Division” means the division of the assets, liabilities and/or obligations of a Person (the  “Dividing Person”) among two or more Persons (whether pursuant to a “plan of division” or  similar arrangement), which may or may not include the Dividing Person and pursuant to which  the Dividing Person may or may not survive.   

 

   15  #153723541_v10  “Division Successor” means any Person that, upon the consummation of a Division of a  Dividing Person, holds all or any portion of the assets, liabilities and/or obligations previously held  by such Dividing Person immediately prior to the consummation of such Division.  A Dividing  Person which retains any of its assets, liabilities and/or obligations after a Division shall be deemed  a Division Successor upon the occurrence of such Division.  “Document” has the meaning assigned to such term in the Security Agreement.  “Dollar Equivalent” means, for any amount, at the time of determination thereof, (a) if  such amount is expressed in Dollars, such amount, (b) if such amount is expressed in an Alternative  Currency, the equivalent of such amount in dollars determined by using the rate of exchange for  the purchase of dollars with the Alternative Currency last provided (either by publication or  otherwise provided to the Administrative Agent) by Reuters on the Business Day (New York City  time) immediately preceding the date of determination or if such service ceases to be available or  ceases to provide a rate of exchange for the purchase of dollars with the Alternative Currency, as  provided by such other publicly available information service which provides that rate of exchange  at such time in place of Reuters chosen by the Administrative Agent in its sole discretion (or if  such service ceases to be available or ceases to provide such rate of exchange, the equivalent of  such amount in dollars as determined by the Administrative Agent using any method of  determination it deems appropriate in its sole discretion) and (c) if such amount is denominated in  any other currency, the equivalent of such amount in dollars as determined by the Administrative  Agent using any method of determination it deems appropriate in its sole discretion.    “Dollars”, “dollars” or “$” refers to lawful money of the U.S.  “Domestic Subsidiary” means each Subsidiary that is organized under the laws of the  United States, any state thereof or the District of Columbia.  “EBITDA” means, for any period, the sum of the following:  (a)  Net Income for such period, plus   (b)  without duplication and to the extent deducted in determining Net Income for such  period, the sum of the following:  (i) Interest Expense for such period,   (ii)  income tax expense for such period net of income tax refunds in such  period,   (iii) all amounts attributable to depreciation and amortization expense for such  period,   (iv) any unusual, extraordinary or non-recurring, non-cash fees, charges and  expenses for such period as included in filings with the SEC,   (v) any other non-cash charges for such period (but excluding any non-cash  charge in respect of an item that was included in Net Income in a prior period),   

 

   16  #153723541_v10  (vi) any unusual, extraordinary or non-recurring fees, cash charges and other  cash expenses (including severance costs) that are paid or otherwise accounted for in such  period; provided that the amount thereof added back to EBITDA pursuant to this clause  (vi) shall not exceed 10% of EBITDA for such period,  (vii) the amount of expected run-rate cost savings, operating expense reductions,  restructuring charges and expenses and synergies related to Acquisitions, divestitures,  Dispositions, restructurings, cost savings initiatives, operating improvements and other  similar initiatives projected by the Borrower in good faith to be realized as a result of any  Disposition, restructuring activity, consolidation, integration, operational change,  Permitted Acquisition or any other Investment or other actions that have been taken or  initiated or are expected to be taken or initiated, net of the amount of actual benefits realized  from such actions, in each case within the 12 month period following the consummation  thereof and such amounts are reasonably identifiable and factually supportable, reasonably  attributable to the actions specified and reasonably anticipated to result from such actions,  provided that aggregate amount added back pursuant to this clause (vii) shall not exceed  20% of EBITDA for such period,   (viii) to the extent incurred on or prior to June 30, 2021, litigation expense (net  of insurance proceeds received with respect thereto), costs associated with the restatement  of Borrower’s financial statements, costs associated with implemented new financial  controls, and one-time signing bonuses for the new management team and investment  banking fees; provided that the amount added back pursuant to this clause (viii) shall not  exceed $1,500,000 in the aggregate for all periods following December 31, 2020,  (ix) the proceeds of any business interruption insurance received during such  period or expected to be received in respect of such period; provided that if any such  amount is not received within 12 months from such period, EBITDA shall be reduced for  such subsequent period by the amount not actually received,  (x) costs, fees, and expenses contractually agreed to be reimbursed by third  parties within a 12-month period; provided that if such costs, fees, and expenses are not  reimbursed within such period, EBITDA shall be reduced for such subsequent period by  the amount not actually received,  (xi) losses, costs and expenses incurred in connection with any foreign currency  hedging transaction or currency fluctuations; minus   (c)  without duplication and to the extent included in Net Income, the sum of the  following: (i) any cash payments made during such period in respect of non-cash charges described  in clause (a)(v) taken in a prior period and (ii) any extraordinary gains and any non-cash items of  income for such period, all calculated for the Borrower and its Subsidiaries on a consolidated basis  in accordance with GAAP.    “ECP” means an “eligible contract participant” as defined in Section 1(a)(18) of the  Commodity Exchange Act or any regulations promulgated thereunder and the applicable rules  issued by the Commodity Futures Trading Commission and/or the SEC.  

 

   17  #153723541_v10  “EEA Financial Institution” means (a) any institution established in any EEA Member  Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity  established in an EEA Member Country which is a parent of an institution described in clause (a)  of this definition, or (c) any institution established in an EEA Member Country which is a  subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to  consolidated supervision with its parent.  “EEA Member Country” means any of the member states of the European Union, Iceland,  Liechtenstein, and Norway.  “EEA Resolution Authority” means any public administrative authority or any Person  entrusted with public administrative authority of any EEA Member Country (including any  delegee) having responsibility for the resolution of any EEA Financial Institution.  “Effective Date” means the date on which the conditions specified in Section 4.01 are  satisfied (or waived in accordance with Section 9.02).  “Electronic Signature” means an electronic sound, symbol, or process attached to, or  associated with, a contract or other record and adopted by a Person with the intent to sign,  authenticate or accept such contract or record.  “Electronic System” means any electronic system, including e-mail, e-fax, web portal  access for the Borrower and any other Internet or extranet-based site, whether such electronic  system is owned, operated or hosted by the Administrative Agent or the Issuing Bank and any of  its respective Related Parties or any other Person, providing for access to data protected by  passcodes or other security system.  “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders,  decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into  by any Governmental Authority, relating in any way to the environment, preservation or  reclamation 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, fines, penalties or indemnities), of the  Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) any violation of  any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or  disposal of any Hazardous Materials, (c) any 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.  “Equipment” has the meaning assigned to such term in the Security Agreement.   “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  

 

   18  #153723541_v10  purchase or acquire any of the foregoing, but excluding any debt securities convertible into any of  the foregoing.    “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from  time to time, and the rules and regulations promulgated thereunder.     “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  Section 4001(a)(14) of ERISA or, solely for purposes of Section 302 of ERISA and Section 412  of the Code, is treated as a single employer under Section 414(m) of the Code.    “ERISA Event” means (a) any “reportable event”, as defined in Section 4043(c) 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); (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 ERISA Affiliate 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; (f) the incurrence by the Borrower or any ERISA Affiliate of any  liability with respect to the withdrawal or partial withdrawal of the Borrower or any ERISA  Affiliate 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 upon the Borrower or any ERISA Affiliate of  Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be,  insolvent, in critical status or in reorganization, within the meaning of Title IV of ERISA.  “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published  by the Loan Market Association (or any successor Person), as in effect from time to time.  “Euro” and “€” mean the single currency of the Participating Member States.  “EURIBOR Rate” means, with respect to any Term Benchmark Borrowing denominated  in Euros and for any Interest Period, the EURIBOR Screen Rate, two TARGET Days prior to the  commencement of such Interest Period.  “EURIBOR Screen Rate” means the euro interbank offered rate administered by the  European Money Markets Institute (or any other person which takes over the administration of  that rate) for the relevant period displayed (before any correction, recalculation or republication  by the administrator) on page EURIBOR01 of the Thomson Reuters screen (or any replacement  Thomson Reuters page which displays that rate) or on the appropriate page of such other  information service which publishes that rate from time to time in place of Thomson Reuters as  published at approximately 11:00 a.m. Brussels time two TARGET Days prior to the  commencement of such Interest Period.  If such page or service ceases to be available, the  Administrative Agent may specify another page or service displaying the relevant rate after  

 

   19  #153723541_v10  consultation with the Borrower.  “Event of Default” has the meaning assigned to such term in Article VII.  “Excluded Swap Obligation” means, with respect to any Guarantor, any Swap Obligation  if, and to the extent that, all or a portion of the Guarantee of such Guarantor of, or the grant by  such Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof)  is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the  Commodity Futures Trading Commission (or the application or official interpretation of any  thereof) by virtue of such Guarantor’s failure for any reason to constitute an ECP at the time the  Guarantee of such Guarantor or the grant of such security interest becomes or would become  effective with respect to such Swap Obligation.  If a Swap Obligation arises under a master  agreement governing more than one swap, such exclusion shall apply only to the portion of such  Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or  becomes illegal.  “Excluded Taxes” means any of the following Taxes imposed on or with respect to a  Recipient or required to be withheld or deducted from a payment to a Recipient: (a) Taxes imposed  on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes,  in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having  its principal office or, in the case of any Lender, its applicable lending office located in, the  jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other  Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts  payable to or for the account of such Lender with respect to an applicable interest in a Loan, Letter  of Credit or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires  such interest in the Loan, Letter of Credit or Commitment (other than pursuant to an assignment  request by the Borrower under Section 2.19(b)) or (ii) such Lender changes its lending office,  except in each case to the extent that, pursuant to Section 2.17, amounts with respect to such Taxes  were payable either to such Lender’s assignor immediately before such Lender acquired the  applicable interest in a Loan, Letter of Credit or Commitment or to such Lender immediately  before it changed its lending office, (c) Taxes attributable to such Recipient’s failure to comply  with Section 2.17(f) and (d) any U.S. federal withholding Taxes imposed under FATCA.  “Existing Credit Agreement” means that certain Credit Agreement by and among the  Borrower, the other Loan Parties party thereto, the Lenders party thereto, and the Administrative  Agent dated as of August 14, 2020, as amended, modified, or supplemented prior to the Effective  Date.   “FATCA” means Sections 1471 through 1474 of the Code as of the date of this Agreement  (or any amended or successor version that is substantively comparable and not materially more  onerous to comply with), any current or future regulations or official interpretations thereof, any  agreement entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory  legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or  convention among Governmental Authorities and implementing such Sections of the Code.   “Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB  based on such day’s federal funds transactions by depositary institutions, as determined in such  

 

   20  #153723541_v10  manner as  shall be set forth on the NYFRB’s Website  from time to time, and published on the  next succeeding Business Day by the NYFRB as the effective federal funds rate; provided that if  the Federal Funds Effective Rate as so determined would be less than 0.00%, such rate shall be  deemed to be 0.00% for the purposes of this Agreement.     “Federal Reserve Board” means the Board of Governors of the Federal Reserve System  of the United States of America.   “Fee Letter” means, collectively, that certain Fee Letter, dated as of the Effective Date (as  amended, restated, amended and restated, supplemented, or otherwise modified from time to time),  by and between the Borrower and the Administrative Agent and any other fee letters entered into  by the parties (or any of them) from time to time.  “Financial Officer” means the chief financial officer, principal accounting officer,  treasurer or controller of the Borrower.  “Financial Statements” has the meaning assigned to such term in Section 5.01.  “Fixtures” has the meaning assigned to such term in the Security Agreement.  “Flood Laws” has the meaning assigned to such term in Section 8.10.  “Floor” means the benchmark rate floor, if any, provided in this Agreement initially (as of  the execution of this Agreement, the modification, amendment or renewal of this Agreement or  otherwise) with respect to the Adjusted Term SOFR Rate, Adjusted EURIBOR Rate, Adjusted  TIBOR Rate each Adjusted Daily Simple RFR, the Japanese Prime Rate or the Central Bank Rate,  as applicable.  For the avoidance of doubt the initial Floor for each of Adjusted Term SOFR Rate,  Adjusted EURIBOR Rate, Adjusted TIBOR Rate, each Adjusted Daily Simple RFR, the Japenese  Prime Rate, or the Central Bank Rate shall be 0.00%  “Foreign Lender” means (a) if the Borrower is a U.S. Person, a Lender that is not a U.S.  Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized under  the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes.  “Foreign Subsidiary” means any Subsidiary of Borrower other than a Domestic  Subsidiary.  “Funding Accounts” means the Borrower’s account(s) with the Administrative Agent that  has been agreed to by the Administrative Agent and Borrower to be the “Funding Accounts” with  respect to the Agreed Currencies.    “GAAP” means generally accepted accounting principles in the U.S.  “Governmental Authority” means the government of the U.S., any other nation or any  political subdivision thereof, whether state or local, and any agency, authority, instrumentality,  regulatory body, court, central bank or other entity exercising executive, legislative, judicial,  taxing, regulatory or administrative powers or functions of or pertaining to government.  

 

   21  #153723541_v10  “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 or other obligation 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 other obligation 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 or other obligation of the payment thereof,  (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 or  other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty  issued to support such Indebtedness or obligation; provided that the term Guarantee shall not  include endorsements for collection or deposit in the ordinary course of business.  The amount of  any Guarantee for all purposes of this Agreement shall be deemed to be an amount equal to the  stated or determinable amount of the related Indebtedness or primary obligation, or portion thereof,  in respect of which such Guarantee is made or, if not stated or determinable, the maximum  reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good  faith (the “Guaranteed Amount”). The term “Guarantee” as a verb has a corresponding meaning.  “Guaranteed Obligations” has the meaning assigned to such term in Section 10.01.  “Guarantors” means all Loan Guarantors and all non-Loan Parties who have delivered an  Obligation Guaranty, and the term “Guarantor” means each or any one of them individually.  “Hazardous Materials” means:  (a) any substance, material, or waste that is included  within the definitions of “hazardous substances,” “hazardous materials,” “hazardous waste,” “toxic  substances,” “toxic materials,” “toxic waste,” or words of similar import in any Environmental  Law; (b) those substances listed as hazardous substances by the United States Department of  Transportation (or any successor agency) (49 C.F.R. 172.101 and amendments thereto) or by the  Environmental Protection Agency (or any successor agency) (40 C.F.R. Part 302 and amendments  thereto); and (c) any substance, material, or waste that is petroleum, petroleum-related, or a  petroleum by-product, asbestos or asbestos-containing material, polychlorinated biphenyls,  flammable, explosive, radioactive, freon gas, radon, or a pesticide, herbicide, or any other  agricultural chemical.  “Indebtedness” of any Person means, without duplication, (a) all obligations of such  Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations  of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of  such Person 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 accounts payable or accrued expenses incurred in the ordinary course of  business which are not more than one hundred twenty (120) days past due or past the date such  expenses began accruing), (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  

 

   22  #153723541_v10  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, (j) all obligations, contingent or  otherwise, of such Person in respect of bankers’ acceptances, (k) earn-outs in respect of Permitted  Acquisitions to the extent reflected as a liability on the consolidated balance sheet of the Borrower  and its Subsidiaries, (l) any other Off-Balance Sheet Liability, (m) obligations, whether absolute  or contingent and howsoever and whensoever created, arising, evidenced or acquired (including  all renewals, extensions and modifications thereof and substitutions therefor), under any and all  Swap Agreements, and (n) obligations in respect of Disqualified Equity Interests.  The  Indebtedness of any Person shall include the Indebtedness of any other entity (including any  partnership in which such Person is a general partner) to the extent such Person is liable therefor  as a result of such Person’s ownership interest in or other relationship with such entity, except to  the extent the terms of such Indebtedness provide that such Person is not liable therefor.   “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with  respect to any payment made by or on account of any obligation of any Loan Party under any Loan  Document and (b) to the extent not otherwise described in the foregoing clause (a), Other Taxes.  “Indemnitee” has the meaning assigned to such term in Section 9.03(b).  “Ineligible Institution” has the meaning assigned to such term in Section 9.04(b).  “Information” has the meaning assigned to such term in Section 9.12.  “Intellectual Property” has the meaning assigned to such term in the Security Agreement.  “Interest Election Request” means a request in the form of Exhibit B-2 by the Borrower  to convert or continue a Borrowing in accordance with Section 2.08.  “Interest Expense” means, with reference to any period, total interest expense (including  that attributable to Capital Lease Obligations) of the Borrower and its Subsidiaries for such period  with respect to all outstanding Indebtedness of the Borrower and its Subsidiaries (including all  commissions, discounts and other fees and charges owed with respect to letters of credit and  bankers’ acceptances and net costs under Swap Agreements in respect of interest rates, to the extent  such net costs are allocable to such period in accordance with GAAP), calculated for the Borrower  and its Subsidiaries on a consolidated basis for such period in accordance with GAAP.  “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 RFR Loan, (1) each date that is on the numerically corresponding day in each  calendar month that is one month after the Borrowing of such Loan (or, if there is no such  numerically corresponding day in such month, then the last day of such month) and (2) the  Maturity Date, (c) with respect to any Term Benchmark Loan, the last day of each Interest Period  applicable to the Borrowing of which such Loan is a part and, in the case of a Term Benchmark  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 (d) with respect to any Swingline Loan, the day  that such Loan is required to be repaid and the Revolving Credit Maturity Date.  

 

   23  #153723541_v10  “Interest Period” means with respect to any Term Benchmark Borrowing, the period  commencing on the date of such Borrowing and ending on the numerically corresponding day in  the calendar month that is one, three or six months thereafter (in each case, subject to the  availability for the Benchmark applicable to the relevant Loan or Commitment for any Agreed  Currency), 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 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, (ii) 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 and (iii) no tenor that has been  removed from this definition pursuant to Section 2.14(e) shall be available for specification in such  Borrowing Request or Interest Election Request.  For purposes hereof, the date of a Borrowing  initially shall be the date on which such Borrowing is made and thereafter shall be the effective  date of the most recent conversion or continuation of such Borrowing.  “Inventory” has the meaning assigned to such term in the Security Agreement.  “IRS” means the United States Internal Revenue Service.  “Issuing Bank” means, individually and collectively, each of JPM, in its capacity as the  issuer of Letters of Credit hereunder and its successors in such capacity as provided in  Section 2.06(i).  Any Issuing Bank may, in its discretion, arrange for one or more Letters of Credit  to be issued by its Affiliates, in which case the term “Issuing Bank” shall include any such Affiliate  with respect to Letters of Credit issued by such Affiliate (it being agreed that the Issuing Bank  shall, or shall cause such Affiliate to, comply with the requirements of Section 2.06 with respect  to such Letters of Credit).  “Issuing Bank Sublimit” means, as of the Effective Date, $5,000,000.  “Japanese Prime Rate” means (a) for any Loan denominated in Yen the greater of (i) the  Japanese local bank prime rate and (ii) the Floor plus (b) the Japanese Prime Rate Adjustment.  “Japanese Prime Rate Adjustment” means, for any day, for any Loan denominated in Yen,  a rate equal to the difference (which may be a positive or negative value or zero) of (i) the average  of the Adjusted TIBOR Rate for the five most recent Business Days preceding such day for which  the TIBOR Screen Rate was available (excluding, from such averaging, the highest and the lowest  Adjusted TIBOR Rate applicable during such period of five Business Days) minus (ii) the Japanese  Prime Rate in effect on the last Business Day in such period. For purposes of this definition, the  TIBOR Rate on any day shall be based on the TIBOR Screen Rate on such day at approximately  the time referred to in the definition of such term for deposits in Yen for a maturity of one month.  “Joinder Agreement” means a Joinder Agreement in substantially the form of Exhibit E.  “JPM” means JPMorgan Chase Bank, N.A., a national banking association, in its  individual capacity, and its successors.  “LC Collateral Account” has the meaning assigned to such term in Section 2.06(j).  

 

   24  #153723541_v10  “LC Disbursement” means any payment made by the Issuing Bank pursuant to a Letter of  Credit.  “LC Exposure” means, at any time, the Standby LC Exposure at such time.  The LC  Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate  LC Exposure at such time.  “Lenders” means the Persons listed on the Commitment Schedule and any other Person  that shall have become a Lender hereunder pursuant to Section 2.19 or an Assignment and  Assumption, other than any such Person that ceases to be a Lender hereunder pursuant to an  Assignment and Assumption.  Unless the context otherwise requires, the term “Lenders” includes  the Swingline Lender and the Issuing Bank.  “Letters of Credit” means the letters of credit issued pursuant to this Agreement, and the  term “Letter of Credit” means any one of them or each of them singularly, as the context may  require.  “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 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.  “Liquidity” means, on any date of determination, unrestricted cash of the Loan Parties  maintained in a deposit account with the Administrative Agent or one or more other financial  institutions in the U.S. and subject to a Deposit Account Control Agreement (as defined in the  Security Agreement) and that is not encumbered by or subject to any other Lien (other than  ordinary course setoff rights of a depository bank arising under a bank depository agreement for  customary fees, charges and other account-related expenses due to such depository bank  thereunder to the extent permitted under the applicable Deposit Account Control Agreement).   “Loan Documents” means, collectively, this Agreement, each promissory note issued  pursuant to this Agreement, any Letter of Credit applications, each Collateral Document, each  Compliance Certificate, the Loan Guaranty, any Obligation Guaranty, each subordination  agreement, each intercreditor agreement, and each other agreement, instrument, document and  certificate executed in connection herewith or therewith and delivered to, or in favor of, the  Administrative Agent or any Lender and including each other pledge, power of attorney, consent,  assignment, contract, notice, letter of credit agreement, letter of credit applications and any  agreements between the Borrower and the Issuing Bank regarding the Issuing Bank’s Issuing Bank  Sublimit or the respective rights and obligations between the Borrower and the Issuing Bank in  connection with the issuance of Letters of Credit, and each other written matter whether heretofore,  now or hereafter executed by or on behalf of any Loan Party, or any employee of any Loan Party,  and delivered to the Administrative Agent or any Lender in connection with this Agreement or the  transactions contemplated hereby.  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  

 

   25  #153723541_v10  Agreement or such Loan Document as the same may be in effect at any and all times such reference  becomes operative.  “Loan Guarantor” means each Loan Party.  “Loan Guaranty” means Article X of this Agreement.  “Loan Parties” means, collectively, the Borrower, the Borrower’s Subsidiaries that are  party to this Agreement on the Effective Date and any other Person who becomes a party to this  Agreement pursuant to a Joinder Agreement and their respective successors and assigns, and the  term “Loan Party” shall mean any one of them or all of them individually, as the context may  require.  “Loans” means the loans and advances made by the Lenders pursuant to this Agreement,  including Swingline Loans.   “Margin Stock” means margin stock within the meaning of Regulations T, U and X, as  applicable.     “Material Acquisition” means a Permitted Acquisition for which the aggregate  consideration is greater than $20,000,000.  “Material Adverse Effect” means a material adverse effect on (a) the business, assets,  operations, or condition, financial or otherwise, of the Borrower and its Subsidiaries taken as a  whole, (b) the ability of the Loan Parties, taken as a whole, to perform their obligations under the  Loan Documents to which they are a party, (c) the Collateral, or the Administrative Agent’s Liens  (on behalf of itself and the other Secured Parties) on the Collateral or the priority of such Liens, or  (d) the rights of or benefits available to the Administrative Agent, the Issuing Bank or the Lenders  under any of the Loan Documents.  “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 the Borrower  and its Subsidiaries in an aggregate principal amount exceeding $5,000,000.  For purposes of  determining Material Indebtedness, the “principal amount” of the obligations of the Borrower or  any Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate  amount (giving effect to any netting agreements) that the Borrower or such Subsidiary would be  required to pay if such Swap Agreement were terminated at such time.  “Material Intellectual Property” means any intellectual property (including patents,  trademarks, copyrights and licenses thereof) that is material to the conduct of the business or  operations of the Loan Parties and their Subsidiaries.    “Material Real Property” means each parcel or related parcels of real property located in  the United States that is owned by any Loan Party which has a fair market value in excess of  $1,000,000 on the Effective Date, or with respect to real property acquired after the Effective Date,  as of the date of such acquisition, in each case, as determined by the Borrower in good faith.  

 

   26  #153723541_v10  “Maturity Date” means the Revolving Credit Maturity Date or the Term A Maturity Date,  as applicable.  “Maximum Rate” has the meaning assigned to such term in Section 9.17.  “Moody’s” means Moody’s Investors Service, Inc.  “Mortgage” means any mortgage, deed of trust or other agreement which conveys or  evidences a Lien in favor of the Administrative Agent, for the benefit of the Administrative Agent  and the other Secured Parties, on real property of a Loan Party, including any amendment,  restatement, modification or supplement thereto.  “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of  ERISA.  “Net Income” means, for any period, the consolidated net income (or loss) determined for  the Borrower and its Subsidiaries, on a consolidated basis in accordance with GAAP; provided  that there shall be excluded (a) except as provided in Section 1.06, the income (or deficit) of any  Person accrued prior to the date it becomes a Subsidiary or is merged into or consolidated with the  Borrower or any Subsidiary, (b) the income (or deficit) of any Person (other than a Subsidiary) in  which the Borrower or any Subsidiary has an ownership interest, except to the extent that any such  income is actually received by the Borrower or such Subsidiary in the form of dividends or similar  distributions and (c) the undistributed earnings of any Subsidiary, to the extent that the declaration  or payment of dividends or similar distributions by such Subsidiary is not at the time permitted by  the terms of any contractual obligation (other than under any Loan Document) or Requirement of  Law applicable to such Subsidiary.  “Net Proceeds” means, with respect to any event, (a) the cash proceeds received in respect  of such event including (i) any cash received in respect of any non-cash proceeds (including any  cash payments received by way of deferred payment of principal pursuant to a note or installment  receivable or purchase price adjustment receivable or otherwise, but excluding any interest  payments), but only as and when received, (ii) in the case of a casualty, insurance proceeds and  (iii) in the case of a condemnation or similar event, condemnation awards and similar payments,  minus (b) the sum of (i) all reasonable fees and out-of-pocket expenses paid to third parties (other  than Affiliates) in connection with such event, (ii) in the case of a sale, transfer or other disposition  of an asset (including pursuant to a sale and leaseback transaction or a casualty or a condemnation  or similar proceeding), the amount of all payments required to be made as a result of such event to  repay Indebtedness (other than Loans) secured by such asset or otherwise subject to mandatory  prepayment as a result of such event and (iii) the amount of all taxes paid (or reasonably estimated  to be payable) and the amount of any reserves established to fund contingent liabilities reasonably  estimated to be payable, in each case during the year that such event occurred or the next  succeeding year and that are directly attributable to such event (as determined reasonably and in  good faith by a Financial Officer)); provided that no such net cash proceeds shall constitute Net  Proceeds in any fiscal year until the aggregate amount of all such net proceeds in such fiscal year  shall exceed $500,000 (and thereafter only net proceeds in excess of such amount shall constitute  Net Proceeds).  

 

   27  #153723541_v10  “Non-Consenting Lender” has the meaning assigned to such term in Section 9.02(d).  “NYFRB” means the Federal Reserve Bank of New York.  “NYFRB’s Website” means the website of the NYFRB at http://www.newyorkfed.org, or  any successor source.  “NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in  effect on such day and (b) the Overnight Bank Funding Rate in effect on such day (or for any day  that is not a Business Day, for the immediately preceding Business Day); provided that if none of  such rates are published for any day that is a Business Day, the term “NYFRB Rate” means the  rate for a federal funds transaction quoted at 11:00 a.m. on such day received by the Administrative  Agent from a federal funds broker of recognized standing selected by it; provided, further, that if  any of the aforesaid rates as so determined would be less than 0.00%, such rate shall be deemed to  be 0.00% for purposes of this Agreement.  “Obligated Party” has the meaning assigned to such term in Section 10.02.  “Obligation Guaranty” means any Guarantee of all or any portion of the Secured  Obligations executed and delivered to the Administrative Agent for the benefit of the Secured  Parties by a guarantor who is not a Loan Party.  “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 the Loan Parties to  any of the Lenders, the Administrative Agent, the Issuing Bank or any indemnified party,  individually or collectively, existing on the Effective Date 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, arising or incurred under this  Agreement or any of the other Loan Documents or in respect of any of the Loans made or  reimbursement or other obligations incurred or any of the Letters of Credit or other instruments at  any time evidencing any thereof.  “Off-Balance Sheet Liability” of a Person means (a) any repurchase obligation or liability  of such Person with respect to accounts or notes receivable sold by such Person, (b) any  indebtedness, liability or obligation under any so-called “synthetic lease” transaction entered into  by such Person, or (c) any indebtedness, liability or obligation arising with respect to any other  transaction which is the functional equivalent of or takes the place of borrowing but which does  not constitute a liability on the balance sheet of such Person (other than operating leases).  “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, become a party  to, performed its obligations under, received payments under, received or perfected a security  interest under, engaged in any other transaction pursuant to, or enforced, any Loan Document, or  sold or assigned an interest in any Loan, Letter of Credit, or any Loan Document).  

 

   28  #153723541_v10  “Other Taxes” means all present or future stamp, court or documentary, intangible,  recording, filing or similar Taxes that arise from any payment made under, from the execution,  delivery, performance, enforcement or registration of, from the receipt or perfection of a security  interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are  Other Connection Taxes imposed with respect to an assignment (other than an assignment made  pursuant to Section 2.19).  “Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight  federal funds and overnight eurodollar transactions denominated in Dollars by U.S.-managed  banking offices of depository institutions, as such composite rate shall be determined by the  NYFRB as set forth on the NYFRB’s Website from time to time, and published on the next  succeeding Business Day by the NYFRB as an overnight bank funding rate.  “Overnight Rate” means, for any day, (a) with respect to any amount denominated in  Dollars, the NYFRB Rate and (b) with respect to any amount denominated in an Alternative  Currency, an overnight rate determined by the Administrative Agent or the Issuing Bank, as the  case may be, in accordance with banking industry rules on interbank compensation.  “Paid in Full” or “Payment in Full” means, (a) the payment in full in cash of all  outstanding Loans and LC Disbursements, together with accrued and unpaid interest thereon, (b)  the termination, expiration, or cancellation and return of all outstanding Letters of Credit (or  alternatively, with respect to each such Letter of Credit, the furnishing to the Administrative Agent  of a cash deposit, or at the discretion of the Administrative Agent a back up standby letter of credit  satisfactory to the Administrative Agent and the Issuing Bank, in an amount equal to one-hundred  and three percent (103%) of the LC Exposure as of the date of such payment), (c) the payment in  full in cash of the accrued and unpaid fees, (d) the payment in full in cash of all reimbursable  expenses and other Secured Obligations (other than Unliquidated Obligations for which no claim  has been made and other obligations expressly stated to survive such payment and termination of  this Agreement), together with accrued and unpaid interest thereon, (e) the termination of all  Commitments, and (f) the termination of the Swap Agreement Obligations and the Banking  Services Obligations or entering into other arrangements satisfactory to the Secured Parties  counterparties thereto.  “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).  “Payment” has the meaning assigned to it in Section 8.06(d).    “Payment Notice” has the meaning assigned to it in Section 8.06(d).  “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in  ERISA and any successor entity performing similar functions.  

 

   29  #153723541_v10  “Permitted Acquisition” means any Acquisition by any Loan Party or Subsidiary in a  transaction that satisfies each of the following requirements:      (a) such Acquisition shall be consensual;  (b) the business acquired in connection with such Acquisition is not  engaged, directly or indirectly, in any line of business other than the businesses in which the Loan  Parties are engaged on the Effective Date and any business activities that are substantially similar,  related, or incidental thereto;  (c) both before and after giving effect to such Acquisition and the Loans (if  any) requested to be made in connection therewith, each of the representations and warranties in  the Loan Documents is true and correct (except (i) any such representation or warranty which  relates to a specified prior date and (ii) to the extent the Lenders have been notified in writing by  the Loan Parties that any representation or warranty is not correct and the Lenders have explicitly  waived in writing compliance with such representation or warranty) and no Default exists, will  exist, or would result therefrom;  (d) as soon as available, but not less than fifteen (15) days prior to such  Acquisition, the Borrower has provided the Administrative Agent (i) notice of such Acquisition  and (ii) a copy of all business and financial information reasonably requested by the Administrative  Agent including pro forma financial statements, and statements of cash flow;  (e) if such Acquisition is an acquisition of Equity Interests, such Acquisition  will not result in any violation of Regulation U;  (f) if such Acquisition involves a merger or a consolidation involving (i) the  Borrower, the Borrower shall be the surviving entity or (ii) any other Loan Party, such Loan Party  shall be the surviving entity unless the other Person will become a wholly-owned Subsidiary of  the Borrower and a Loan Party pursuant to Section 5.14;  (g) no Loan Party shall, as a result of or in connection with any such  Acquisition, assume or incur any direct or contingent liabilities (whether relating to environmental,  tax, litigation, or other matters) that could have a Material Adverse Effect;  (h) after giving effect to the Acquisition, on a pro forma basis, the Borrower  will be in compliance with the covenants in Section 6.12 of this Agreement, and the Borrower  shall certify the same to the Administrative Agent and the Lenders (and provide the Administrative  Agent and the Lenders with a pro forma calculation in form and substance reasonably satisfactory  to the Administrative Agent);  (i) all actions required to be taken with respect to any newly acquired or formed  wholly-owned Subsidiary of the Borrower or a Loan Party, as applicable, required under Section  5.14 shall have been taken;   (j) for all Acquisitions of Foreign Subsidiaries or businesses with assets located  primarily outside the U.S. made during the term of this Agreement (i) cash consideration for such  Acquisitions shall not exceed the sum of (x) $25,000,000 and (y) cash proceeds from the issuance  of Equity Interests (other than Disqualified Equity Interests) received in connection with such  Acquisition and (ii) after giving pro forma effect to each such Acquisition the Loan Parties shall  have Liquidity of not less than $10,000,000; and  

 

   30  #153723541_v10  (k) the Borrower shall have delivered to the Administrative Agent the final  executed documentation relating to such Acquisition within five (5) days following the  consummation thereof.    “Permitted Encumbrances” means:  (a) Liens imposed by law for Taxes 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 thirty (30) days or are being contested in compliance with 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) 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;  (e) judgment Liens in respect of judgments that do not constitute an Event of Default  under clause (k) of Article VII; and  (f) easements, zoning restrictions, rights-of-way and similar encumbrances on real  property imposed by law or arising in the ordinary course of business 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 Subsidiary;  provided that the term “Permitted Encumbrances” shall not include any Lien securing  Indebtedness, except with respect to clause (e) above.  “Permitted Investments” means:  (a) direct obligations of, or obligations the principal of and interest on which  are unconditionally guaranteed by, the U.S. (or by any agency thereof to the extent such obligations  are backed by the full faith and credit of the U.S.), in each case maturing within one year from the  date of acquisition thereof;  (b) investments in commercial paper maturing within 270 days from the date  of acquisition thereof and having, at such date of acquisition, the highest credit rating obtainable  from S&P or from Moody’s;  (c) investments in certificates of deposit, bankers’ acceptances and time  deposits maturing within 180 days 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 U.S. or any state thereof which has a combined  capital and surplus and undivided profits of not less than $500,000,000 or, in the case of Foreign  

 

   31  #153723541_v10  Subsidiaries, any local office of any commercial bank organized under the laws of the relevant  local jurisdiction or any OECD country or any political subdivision thereof which has a combined  capital and surplus and undivided profits of not less than $500,000,000 and cash pooling  arrangements among Foreign Subsidiaries (sometimes intermediated by a commercial bank);  (d) 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;   (e) money market funds that (i) comply with the criteria set forth in Securities  and Exchange Commission 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; and  (f) in the case of Foreign Subsidiaries, substantially similar investments to  those set forth in clauses (a) through (e) above denominated in foreign currencies, which  investments have ratings described in such clauses or equivalent ratings from comparable foreign  rating agencies.  “Permitted Ratio Indebtedness” means unsecured subordinated Indebtedness or unsecured  senior Indebtedness, in each case issued or incurred by the Borrower (a) the terms of which do not  provide for any scheduled repayment, mandatory repayment, or redemption or sinking fund  obligations prior to, at the time of incurrence, the date that is 365 days after the Maturity Date  (other than, in each case, customary offers or obligations to repurchase or repay upon a change of  control and customary acceleration rights after an event of default), (b) with respect to which no  Subsidiary or Unrestricted Subsidiary of the Borrower (other than a Loan Party) is an obligor, and  (c) the covenants, events of default, guarantees and other terms of which (excluding pricing,  interest rate margins, rate floors, discounts, fees, premiums and prepayment or redemption  provisions) taken as a whole, are not materially more restrictive to the Borrower and its  Subsidiaries than those herein (taken as a whole) (except for covenants or other provisions  applicable only to periods after the Maturity Date at the time of such financing) (it being  understood that, (1) to the extent that any financial covenant is added for the benefit of any such  Indebtedness, no consent shall be required by the Administrative Agent or any of the Lenders if  such financial covenant is also added for the benefit of any corresponding Loans remaining  outstanding after the issuance or incurrence of such Indebtedness or (2) no consent shall be  required by the Administrative Agent or any of the Lenders if any covenants or other provisions  are only applicable after Maturity Date at the time of such financing); provided that a certificate  of an authorized officer of the Borrower delivered to the Administrative Agent at least five (5)  Business Days (or such shorter period as the Administrative Agent may reasonably agree) prior to  the incurrence of such Indebtedness, together with a reasonably detailed description of the material  terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating  that the Borrower has determined in good faith that such terms and conditions satisfy the foregoing  requirement shall be conclusive evidence that such terms and conditions satisfy the foregoing  requirement unless the Administrative Agent notifies the Borrower within three (3) Business Days  after receipt of such certificate that it disagrees with such determination (including a reasonable  description of the basis upon which it disagrees).    

 

   32  #153723541_v10  “Person” means any natural person, corporation, limited liability company, trust, joint  venture, association, company, partnership, Governmental Authority or other entity.  “Plan” means any employee pension benefit plan (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 (or, if such plan were  terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in  Section 3(5) of ERISA.  “Plan Asset Regulations” means 29 CFR § 2510.3-101 et seq., as modified by Section  3(42) of ERISA, as amended from time to time.  “Prepayment Event” means:  (a) any sale, transfer or other disposition (including pursuant to a sale and  leaseback transaction) of any property or asset of any Loan Party or any Subsidiary, other than  dispositions described in Section 6.05(a) – (g); or  (b) any casualty or other insured damage to, or any taking under power of  eminent domain or by condemnation or similar proceeding of, any property or asset of any Loan  Party or  any Subsidiary with a fair value immediately prior to such event equal to or greater than  $1,000,000; or  (c) the incurrence by any Loan Party or any Subsidiary of any Indebtedness,  other than Indebtedness permitted under Section 6.01 or permitted by the Required Lenders  pursuant to Section 9.02.  “Prime Rate” means the rate of interest last quoted by The Wall Street Journal as the  “Prime Rate” in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest per  annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release  H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer  quoted therein, any similar rate quoted therein (as determined by the Administrative Agent) or any  similar release by the Federal Reserve Board (as determined by the Administrative Agent). Each  change in the Prime Rate shall be effective from and including the date such change is publicly  announced or quoted as being effective.  “Projections” has the meaning assigned to such term in Section 5.01(e).  “PTE” means a prohibited transaction class exemption issued by the U.S. Department of  Labor, as any such exemption may be amended from time to time.   “Public-Sider” means a Lender whose representatives may trade in securities of the  Borrower or its Controlling person or any of its Subsidiaries while in possession of the financial  statements provided by the Borrower under the terms of this Agreement.  “QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be  interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).  

 

   33  #153723541_v10  “QFC Credit Support” has the meaning assigned to it in Section 9.21.  “Qualified ECP Guarantor” means, in respect of any Swap Obligation, each Loan Party  that has total assets exceeding $10,000,000 at the time the relevant Loan Guaranty or grant of the  relevant security interest becomes or would become effective with respect to such Swap Obligation  or such other person as constitutes an “eligible contract participant” under the Commodity  Exchange Act or any regulations promulgated thereunder and can cause another person to qualify  as an “eligible contract participant” at such time by entering into a keepwell under Section  1a(18)(A)(v)(II) of the Commodity Exchange Act.  “Real Property” means all real property that was, is now or may hereafter be owned,  occupied or otherwise controlled by any Loan Party pursuant to any contract of sale, lease or other  conveyance of any legal interest in any real property to any Loan Party.  “Recipient” means, as applicable, (a) the Administrative Agent, (b) any Lender and (c) any  Issuing Bank, or any combination thereof (as the context requires).  “Reference Time” with respect to any setting of the then-current Benchmark means (1) if  such Benchmark is the Term SOFR Rate, 5:00 a.m. (Chicago time) on the day that is two Business  Days preceding the date of such setting, (2) if such Benchmark is EURIBOR Rate, 11:00 a.m.  Brussels time two TARGET Days preceding the date of such setting, (3) if such Benchmark is  TIBOR Rate, 11:00 a.m. Japan time two Business Days preceding the date of such setting, (4) if  the RFR for such Benchmark is SONIA, then four Business Days prior to such setting, (5) if the  RFR for such Benchmark is Daily Simple SOFR, then four Business Days prior to such setting, or  (6) if such Benchmark is none of the Term SOFR Rate, the EURIBOR Rate, the TIBOR Rate, or  SONIA, the time determined by the Administrative Agent in its reasonable discretion.   “Refinance Indebtedness” has the meaning assigned to such term in Section 6.01(f).  “Register” has the meaning assigned to such term in Section 9.04(b).  “Relevant Governmental Body” means (i) with respect to a Benchmark Replacement in  respect of Loans denominated in Dollars, the Federal Reserve Board and/or the NYFRB, the CME  Term SOFR Administrator, as applicable, or a committee officially endorsed or convened by the  Federal Reserve Board and/or the NYFRB or, in each case, any successor thereto, (ii) with respect  to a Benchmark Replacement in respect of Loans denominated in Sterling, the Bank of England,  or a committee officially endorsed or convened by the Bank of England or, in each case, any  successor thereto, (iii) with respect to a Benchmark Replacement in respect of Loans denominated  in Euros, the European Central Bank, or a committee officially endorsed or convened by the  European Central Bank or, in each case, any successor thereto, (iv) with respect to a Benchmark  Replacement in respect of Loans denominated in Yen, the Bank of Japan, or a committee officially  endorsed or convened by the Bank of Japan or, in each case, any successor thereto, and (v) with  respect to a Benchmark Replacement in respect of Loans denominated in any other currency, (a)  the central bank for the currency in which such Benchmark Replacement is denominated or any  central bank or other supervisor which is responsible for supervising either (1) such Benchmark  Replacement or (2) the administrator of such Benchmark Replacement or (b) any working group  or committee officially endorsed or convened by (1) the central bank for the currency in which  

 

   34  #153723541_v10  such Benchmark Replacement is denominated, (2) any central bank or other supervisor that is  responsible for supervising either (A) such Benchmark Replacement or (B) the administrator of  such Benchmark Replacement, (3) a group of those central banks or other supervisors or (4) the  Financial Stability Board or any part thereof.  “Relevant Rate” means (i) with respect to any Term Benchmark Borrowing denominated  in Dollars, the Adjusted Term SOFR Rate, (ii) with respect to any Term Benchmark Borrowing  denominated in Euros, the Adjusted EURIBOR Rate, (iii) with respect to any Term Benchmark  Borrowing denominated in Yen, the Adjusted TIBOR Rate, as applicable or (iv) with respect to  any Borrowing denominated in Sterling or Dollars, the applicable Adjusted Daily Simple RFR, as  applicable.  “Relevant Screen Rate” means (i) with respect to any Term Benchmark Borrowing  denominated in Dollars, the Term SOFR Reference Rate, (ii) with respect to any Term Benchmark  Borrowing denominated in Euros, the EURIBOR Screen Rate or (iii) with respect to any Term  Benchmark Borrowing denominated in Yen, the TIBOR Screen Rate, as applicable, as applicable.  “Related Parties” means, with respect to any specified Person, such Person’s Affiliates  and the respective directors, officers, partners, members, trustees, employees, agents,  administrators, managers, representatives and advisors of such Person and such Person’s  Affiliates.  “Release” means any releasing, spilling, leaking, pumping, pouring, emitting, emptying,  discharging, injecting, escaping, leaching, migrating, disposing, or dumping of any substance into  the environment.  “Report” means reports prepared by the Administrative Agent or another Person showing  the results of appraisals, field examinations or audits pertaining to any Loan Party’s assets from  information furnished by or on behalf of such Loan Party, after the Administrative Agent has  exercised its rights of inspection pursuant to this Agreement, which Reports may be distributed to  the Lenders by the Administrative Agent.  “Required Lenders” means, at any time, Lenders (other than Defaulting Lenders) having  Credit Exposure and unused Commitments representing more than 50% of the sum of the  Aggregate Credit Exposure and unused Commitments at such time; provided that, as long as there  are only two Lenders, Required Lenders shall mean both Lenders; provided further that, for  purposes of declaring the Loans to be due and payable pursuant to Article VII, and for all purposes  after the Loans become due and payable pursuant to Article VII or the Commitments expire or  terminate, then, as to each Lender, clause (a) of the definition of Swingline Exposure shall only be  applicable for purposes of determining its Revolving Exposure to the extent such Lender shall  have funded its participation in the outstanding Swingline Loans.  “Requirement of Law” means, with respect to any Person, (a) the charter, articles or  certificate of organization or incorporation and bylaws or operating, management or partnership  agreement, or other organizational or governing documents of such Person and (b) any statute, law  (including common law), treaty, rule, regulation, code, ordinance, order, decree, writ, judgment,  injunction or determination of any arbitrator or court or other Governmental Authority (including  

 

35 #153723541_v10 Environmental Laws), in each case applicable to or binding upon such Person or any of its property  or to which such Person or any of its property is subject.  “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK  Financial Institution, a UK Resolution Authority.  “Restricted Payment” means any dividend or other distribution (whether in cash, securities  or other property) with respect to any Equity Interests in the Borrower or any 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 or any option, warrant or other right to acquire any such  Equity Interests.  “Revaluation Date” means (a) with respect to any Loan denominated in any Alternative  Currency, each of the following: (i) the date of the Borrowing of such Loan and (ii) (A) with  respect to any Term Benchmark Loan, each date of a conversion into or continuation of such Loan  pursuant to the terms of this Agreement and (B) with respect to any RFR Loan, each date that is  on the numerically corresponding day in each calendar month that is one month after the  Borrowing of such Loan (or, if there is no such numerically corresponding day in such month, then  the last day of such month); (b) with respect to any Letter of Credit denominated in an Alternative  Currency, each of the following: (i) the date on which such Letter of Credit is issued, (ii) the first  Business Day of each calendar month and (iii) the date of any amendment of such Letter of Credit  that has the effect of increasing the face amount thereof; and (c) any additional date as the  Administrative Agent may determine at any time when an Event of Default exists.  “Revolving Commitment” means, with respect to each Lender, the commitment, if any, 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  permitted amount of such Lender’s Revolving Exposure hereunder, as such commitment may be  reduced or increased from time to time pursuant to (a) Section 2.09 and (b) assignments by or to  such Lender pursuant to Section 9.04.  The initial amount of each Lender’s Revolving  Commitment is set forth on the Commitment Schedule, or in the Assignment and Assumption  pursuant to which such Lender shall have assumed its Revolving Commitment, as applicable.  The  initial aggregate amount of the Lenders’ Revolving Commitments on the Effective Date is  $15,000,000.00.  “Revolving Credit Maturity Date” means March 17, 2026 (if the same is a Business  Day, or if not then the immediately next succeeding Business Day), or any earlier date on  which the Revolving Commitments are reduced to zero or otherwise terminated pursuant to the  terms hereof.  “Revolving Exposure” means, with respect to any Lender, at any time, the sum of  the aggregate outstanding principal amount of such Lender’s Revolving Loans and its LC  Exposure and its Swingline Exposure at such time.  “Revolving Lender” means, as of any date of determination, a Lender with a Revolving  Commitment or, if the Revolving Commitments have terminated or expired, a Lender with  Revolving Exposure.  

 

   36  #153723541_v10  “Revolving Loan” means a Loan made pursuant to Section 2.01(a).  “RFR” means, for any RFR Loan denominated in (a) Sterling, SONIA, and (b) Dollars,  Daily Simple SOFR.  “RFR Administrator” means the SONIA Administrator or the SOFR Administrator.  “RFR Borrowing” means, as to any Borrowing, the RFR Loans comprising such  Borrowing.  “RFR Business Day” means, for any Loan denominated in (a) Sterling, any day except for  (i) a Saturday, (ii) a Sunday or (iii) a day on which banks are closed for general business in London  and (b) Dollars, a U.S. Government Securities Business Day.  “RFR Interest Day” has the meaning specified in the definition of “Daily Simple RFR”.  “RFR Loan” means a Loan that bears interest at a rate based on the Adjusted Daily Simple  RFR.  “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services  LLC business.  “Sale and Leaseback Transaction” has the meaning assigned to such term in Section 6.06.  “Sanctioned Country” means, at any time, a country, region or territory which is itself the  subject or target of any Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea,  Sudan and Syria).  “Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list  of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department  of the Treasury, the U.S. Department of State or by the United Nations Security Council, the  European Union, any European Union member state, Her Majesty’s Treasury of the United  Kingdom or other relevant sanctions authority, (b) any Person operating, organized or resident in  a Sanctioned Country, (c) any Person owned or controlled by any such Person or Persons described  in the foregoing clauses (a) or (b), or (d) any Person otherwise the subject of any Sanctions.  “Sanctions” means all economic or financial sanctions or trade embargoes imposed,  administered or enforced from time to time by (a) the U.S. government, including those  administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or  the U.S. Department of State, or (b) the United Nations Security Council, the European Union,  any European Union member state or Her Majesty’s Treasury of the United Kingdom or other  relevant sanctions authority.  “SEC” means the Securities and Exchange Commission of the U.S.  “Secured Obligations” means all Obligations, together with all (a) Banking Services  Obligations and (b) Swap Agreement Obligations owing to the Administrative Agent or one or  more Lenders or their respective Affiliates or a Person that was a Lender (or an Affiliate of a  

 

   37  #153723541_v10  Lender) at the time the Swap Agreement Obligation was incurred; provided, however, that the  definition of “Secured Obligations” shall not create any guarantee by any Guarantor of (or grant  of security interest by any Guarantor to support, as applicable) any Excluded Swap Obligations of  such Guarantor for purposes of determining any obligations of any Guarantor.  “Secured Parties” means (a) the Lenders, (b) the Administrative Agent, (c) Issuing Bank,  (d) each provider of Banking Services, to the extent the Banking Services Obligations in respect  thereof constitute Secured Obligations, (e) each counterparty to any Swap Agreement, to the extent  the obligations thereunder constitute Secured Obligations, (f) the beneficiaries of each  indemnification obligation undertaken by any Loan Party under any Loan Document and (g) the  successors and assigns of each of the foregoing.  “Security Agreement” means that certain Pledge and Security Agreement (including any  and all supplements thereto), dated as of August 13, 2020, among the Loan Parties and the  Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties,  and any other pledge or security agreement entered into, after the date of this Agreement by any  other Loan Party (as required by this Agreement or any other Loan Document) or any other Person  for the benefit of the Administrative Agent and the other Secured Parties, as the same may be  amended, restated, supplemented or otherwise modified from time to time.  “SOFR” means a rate equal to the secured overnight financing rate as administered by the  SOFR Administrator.   “SOFR Administrator” means the NYFRB (or a successor administrator of the secured  overnight financing rate).  “SOFR Administrator’s Website” means the NYFRB’s website, currently at  http://www.newyorkfed.org, or any successor source for the secured overnight financing rate  identified as such by the SOFR Administrator from time to time.  “SOFR Determination Date” has the meaning specified in the definition of “Daily Simple  SOFR”.  “SOFR Rate Day” has the meaning specified in the definition of “Daily Simple SOFR”.  “SONIA” means, with respect to any Business Day, a rate per annum equal to the Sterling  Overnight Index Average for such Business Day published by the SONIA Administrator on the  SONIA Administrator’s Website on the immediately succeeding Business Day.   “SONIA Administrator” means the Bank of England (or any successor administrator of  the Sterling Overnight Index Average).  “SONIA Administrator’s Website” means the Bank of England’s website, currently at  http://www.bankofengland.co.uk, or any successor source for the Sterling Overnight Index  Average identified as such by the SONIA Administrator from time to time.  “Standby LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount  of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC  

 

   38  #153723541_v10  Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on  behalf of the Borrower at such time.  The Standby LC Exposure of any Revolving Lender at any  time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.  “Statements” has the meaning assigned to such term in Section 2.18(g).  “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 percentage (including any marginal, special, emergency or supplemental  reserves) expressed as a decimal established by the Federal Reserve Board to which the  Administrative Agent is subject with respect to the Adjusted EURIBOR Rate or Adjusted TIBOR  Rate, as applicable, for eurocurrency funding (currently referred to as “Eurocurrency liabilities”  in Regulation D) or any other reserve ratio or analogous requirement of any central banking or  financial regulatory authority imposed in respect of the maintenance of the Commitments or the  funding of the Loans.  Such reserve percentage shall include those imposed pursuant to Regulation  D.  Term Benchmark Loans shall be deemed to constitute eurocurrency funding and to be subject  to such reserve requirements without benefit of or credit for proration, exemptions or offsets that  may be available from time to time to any Lender under Regulation D or any comparable  regulation.  The Statutory Reserve Rate shall be adjusted automatically on and as of the effective  date of any change in any reserve percentage.  “Sterling” or “£” mean the lawful currency of the United Kingdom.  “Subordinated Indebtedness” of a Person means any Indebtedness of such Person, the  payment of which is subordinated to payment of the Secured Obligations to the written satisfaction  of the Administrative Agent.   “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 (a) 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 , or (b) that is, as of such date,  otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and  one or more subsidiaries of the parent.    “Subsidiary” means any direct or indirect subsidiary of the Borrower or of any other Loan  Party, as applicable, other than an Unrestricted Subsidiary.  “Supported QFC” has the meaning assigned to it in Section 9.21.  “Swap Agreement” means any agreement with respect to any swap, forward, spot, future,  credit default 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 any similar transaction or any combination of these transactions; provided that no  

 

   39  #153723541_v10  phantom stock or similar plan providing for payments only on account of services provided by  current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries  shall be a Swap Agreement.  “Swap Agreement Obligations” means any and all obligations of the Loan Parties and their  Subsidiaries, 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 Swap Agreement permitted hereunder with the  Administrative Agent, a Lender or an Affiliate of the Administrative Agent or a Lender, and (b)  any cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement  transaction permitted hereunder with a Lender or an Affiliate of a Lender.  “Swap Obligation” means, with respect to any Guarantor, any obligation to pay or perform  under any agreement, contract or transaction that constitutes a “swap” within the meaning of  section 1a(47) of the Commodity Exchange Act or any rules or regulations promulgated  thereunder.  “Swingline Commitment” means the amount set forth opposite JPM’s name on the  Commitment Schedule as Swingline Commitment.  As of the Effective Date, the Swingline  Commitment is $0.  “Swingline Exposure” means, at any time, the aggregate principal amount of all Swingline  Loans outstanding at such time.  The Swingline Exposure of (a) any Revolving Lender (other than  a Revolving Lender in its capacity as the Swingline Lender) at any time shall be its Applicable  Percentage of the total Swingline Exposure at such time and (b) the Revolving Lender in its  capacity as the Swingline Lender shall be the principal amount of all Swingline Loans made by  such Revolving Lender in its capacity as the Swingline Lender outstanding at such time (less the  amount of participations funded by the other Revolving Lenders in such Swingline Loans).  “Swingline Lender” means JPM, in its capacity as lender of Swingline Loans hereunder.  Any consent required of the Administrative Agent or the Issuing Bank shall be deemed to be  required of the Swingline Lender and any consent given by JPM in its capacity as Administrative  Agent or Issuing Bank shall be deemed given by JPM in its capacity as Swingline Lender as well.  “Swingline Loan” means a Loan made pursuant to Section 2.05.  “TARGET2” means the Trans-European Automated Real-time Gross Settlement Express  Transfer payment system which utilizes a single shared platform and which was launched on  November 19, 2007.  “TARGET Day” means any day on which TARGET2 (or, if such payment system ceases  to be operative, such other payment system, if any, determined by the Administrative Agent to be  a suitable replacement) is open for the settlement of payments in Euro.  “Taxes” means any and all present or future taxes, levies, imposts, duties, deductions,  withholdings (including backup withholding), value added taxes, or any other goods and services,  use or sales taxes, assessments, fees or other charges imposed by any Governmental Authority,  including any interest, additions to tax or penalties applicable thereto.  

 

40 #153723541_v10 “Term A Commitment” means, with respect to each Lender, the commitment, if any, of  such Lender to make Term A Loan, expressed as an amount representing the maximum principal  amount of the Term A Loan to be made by such Lender, as such commitment may be reduced  from time to time pursuant to (a) Section 2.09 and (b) assignments by or to such Lenders pursuant  to Section 9.04.  The initial amount of each Lender’s Term A Commitment is set forth on the  Commitment Schedule or in the Assignment and Assumption pursuant to which such Lender shall  have assumed its Term A Commitment, as applicable.  The aggregate amount of the Lenders’  Term A Commitment on the Effective Date is $10,937,500.  “Term A Draw Expiration Date” means the earlier of (a) the date upon which the aggregate Term  A Commitments are fully advanced pursuant to Section 2.01(b) and (b) March 17, 2023.  “Term A Lender” means a Lender having a Term A Commitment or an outstanding Term  A Loan.  “Term A Loan” means a Loan made pursuant to Section  2.01(b). “Term A Maturity Date” means March 17, 2026.  “Term Commitments” means the Term A Commitments.  “Term Lenders” means the Term A Lenders.  “Term Loans” means the Term A Loans.   “Term Benchmark” when used in reference to any Loan or Borrowing, refers to whether  such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by  reference to the Adjusted Term SOFR Rate, the Adjusted EURIBOR Rate or the Adjusted TIBOR  Rate.  “Term SOFR Determination Day” has the meaning assigned to it under the definition of  Term SOFR Reference Rate.  “Term SOFR Rate” means, with respect to any Term Benchmark Borrowing denominated  in Dollars and for any tenor comparable to the applicable Interest Period, the Term SOFR  Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities  Business Days prior to the commencement of such tenor comparable to the applicable Interest  Period, as such rate is published by the CME Term SOFR Administrator.  “Term SOFR Reference Rate”  means, for any day and time (such day, the “Term SOFR  Determination Day”), with respect to any Term Benchmark Borrowing denominated in Dollars  and for any tenor comparable to the applicable Interest Period, the rate per annum determined by  the Administrative Agent as the forward-looking term rate based on SOFR.  If by 5:00 pm (New  York City time) on such Term SOFR Determination Day, the “Term SOFR Reference Rate” for  the applicable tenor has not been published by the CME Term SOFR Administrator and a  Benchmark Replacement Date with respect to the Term SOFR Rate has not occurred, then the  Term SOFR Reference Rate for such Term SOFR Determination Day will be the Term SOFR  Reference Rate as published in respect of the first preceding U.S. Government Securities Business  

 

   41  #153723541_v10  Day for which such Term SOFR Reference Rate was published by the CME Term SOFR  Administrator, so long as such first preceding Business Day is not more than five (5) Business  Days prior to such Term SOFR Determination Day.  “TIBOR Rate” means, with respect to any Term Benchmark Borrowing denominated in  Yen and for any Interest Period, the TIBOR Screen Rate two Business Days prior to the  commencement of such Interest Period.  “TIBOR Screen Rate” means the Tokyo interbank offered rate administered by the Ippan  Shadan Hojin JBA TIBOR Administration (or any other person which takes over the  administration of that rate) for the relevant currency and period displayed on page DTIBOR01 of  the Reuters screen (or, in the event such rate does not appear on such Reuters page or screen, on  any successor or substitute page on such screen that displays such rate, or on the appropriate page  of such other information service that publishes such rate as selected by the Administrative Agent  from time to time in its reasonable discretion) as published at approximately 1:00 p.m. Japan time  two Business Days prior to the commencement of such Interest Period.  “Total Indebtedness” means, at any date, the aggregate principal amount of all  Indebtedness determined for the Borrower and its Subsidiaries on a consolidated basis at such date.    “Total Leverage Ratio” means, on any date, the ratio of (a) the sum of (i) Total  Indebtedness on such date minus (ii) the lesser of (x) unrestricted cash of the Loan Parties  maintained with the Administrative Agent or subject to Deposit Account Control Agreement in  favor of the Administrative Agent and (y) EBITDA for the period of four consecutive fiscal  quarters ended on or most recently prior to such date, to (b) EBITDA for the period of four  consecutive fiscal quarters ended on or most recently prior to such date.  “Transactions” means the execution, delivery and performance by the Borrower of this  Agreement and the other Loan Documents, the borrowing of Loans and other credit extensions,  the use of the proceeds thereof, 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 Term SOFR Rate, the Adjusted EURIBOR Rate, the Adjusted TIBOR Rate, the  Alternate Base Rate or the Adjusted Daily Simple RFR.  “UK Financial Institutions” means any BRRD Undertaking (as such term is defined under  the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential  Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended  from time to time) promulgated by the United Kingdom Financial Conduct Authority, which  includes certain credit institutions and investment firms, and certain affiliates of such credit  institutions or investment firms.  “UK Resolution Authority” means the Bank of England or any other public administrative  authority having responsibility for the resolution of any UK Financial Institution.  

 

   42  #153723541_v10  “UCC” means the Uniform Commercial Code as in effect from time to time in the State of  New York or in any other state, the laws of which are required to be applied in connection with  the issue of perfection of security interests.  “Unfinanced Capital Expenditures” means, for any period, Capital Expenditures made  during such period which are not financed from the proceeds of any Indebtedness (other than the  Revolving Loans; it being understood and agreed that, to the extent any Capital Expenditures are  financed with Revolving Loans, such Capital Expenditures shall be deemed Unfinanced Capital  Expenditures).  “Unliquidated Obligations” means, at any time, any Secured Obligations (or portion  thereof) that are contingent in nature or unliquidated at such time, including any Secured  Obligation that is: (a) an obligation to reimburse a bank for drawings not yet made under a letter  of credit issued by it; (b) any other obligation (including any guarantee) that is contingent in nature  at such time; or (c) an obligation to provide collateral to secure any of the foregoing types of  obligations.  “Unrestricted Subsidiary” means any Subsidiary of Borrower or its Subsidiaries acquired  or formed subsequent to the Effective Date and designated by the board of directors (or similar  governing body) of Borrower as an Unrestricted Subsidiary pursuant to Section 5.15, provided,  that notwithstanding any designation of a Subsidiary of Borrower as an Unrestricted Subsidiary,  on the last day of each Fiscal Quarter, no Unrestricted Subsidiaries shall exceed 5.0% individually  or 10.0% in the aggregate of the total revenues or book value of the total assets of Borrower and  its Subsidiaries on a consolidated basis.  Borrower may designate any such after acquired or formed  Subsidiary of Borrower or its Subsidiaries to be an Unrestricted Subsidiary unless such Subsidiary  or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien  on any property of, any Loan Party or any Subsidiary of any Loan Party (other than any Subsidiary  of the Subsidiary to be so designated); provided that (i) each of (A) the Subsidiary to be so  designated and (B) its Subsidiaries has not at the time of designation, and does not thereafter,  create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable with  respect to any Indebtedness pursuant to which the lender has recourse to any of the assets of any  Loan Party or any Subsidiary and (ii) for the avoidance of doubt, Borrower may not designate as  an Unrestricted Subsidiary (x) any Loan Party, (y) any Subsidiary in existence as of the Effective  Date, or (z) any Subsidiary that holds Material Intellectual Property.  “U.S.” means the United States of America.  “U.S. Government Securities Business Day” means any day except for (i) a Saturday, (ii)  a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association  recommends that the fixed income departments of its members be closed for the entire day for  purposes of trading in United States government securities.  “U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30)  of the Code.  “U.S. Special Resolution Regimes” has the meaning assigned to such term in Section 9.21.  

 

   43  #153723541_v10  “U.S. Tax Compliance Certificate” has the meaning assigned to such term in  Section 2.17(f)(ii)(B)(3).  “USA PATRIOT Act” means the Uniting and Strengthening America by Providing  Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001.  “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.  “Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution  Authority, the write-down and conversion powers of such EEA Resolution Authority from time to  time under the Bail-In Legislation for the applicable EEA Member Country, which write-down  and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect  to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In  Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial  Institution  or any contract or instrument under which that liability arises, to convert all or part of  that liability into shares, securities or obligations of that person or any other person, to provide that  any such contract or instrument is to have effect as if a right had been exercised under it or to  suspend any obligation in respect of that liability or any of the powers under that Bail-In  Legislation that are related to or ancillary to any of those powers.  “Yen” or “¥” mean the lawful currency of Japan.  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 “Term Benchmark Loan” or an “RFR Loan”) or by Class and Type (e.g., a “Term  Benchmark Revolving Loan” or an “RFR Revolving Loan”).  Borrowings also may be classified  and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Term Benchmark  Borrowing” or an “RFR Borrowing”) or by Class and Type (e.g., a “Term Benchmark Revolving  Borrowing” or an “RFR 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 “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.  The word “will” shall be construed to have the same meaning and  effect as the word “shall”.  Unless the context requires otherwise (a) any definition of or reference  to any agreement, instrument or other document herein shall be construed as referring to such  agreement, instrument or other document as from time to time amended, 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  

 

   44  #153723541_v10  Person shall be construed to include such Person’s successors and assigns (subject to any  restrictions on assignments 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, (f) any reference in any definition to the phrase  “at any time” or “for any period” shall refer to the same time or period for all calculations or  determinations within such definition, and (g) the words “asset” and “property” shall be construed  to have the same meaning and effect and to refer to any and all tangible and intangible assets and  properties, including cash, securities, accounts and contract rights.  SECTION 1.04 Accounting Terms; GAAP.  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 after the date hereof there occurs any change in  GAAP or in the application thereof on the operation of any provision hereof and the Borrower  notifies the Administrative Agent that the Borrower requests an amendment to any provision  hereof to eliminate the effect of such change  in GAAP or in the application thereof (or if the  Administrative Agent notifies the Borrower that the 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 Financial Accounting  Standards Board 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 any Loan Party, 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 Financial Accounting Standards Board 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.   Notwithstanding anything to the contrary contained in this  Section 1.04 or in the definition of “Capital Lease Obligations,” any existing requirement of, or  any change in, accounting for leases pursuant to GAAP resulting from the adoption of Financial  Accounting Standards Board Accounting Standards Update No. 2016-02, Leases (Topic 842), to  the extent such adoption would require treating any lease (or similar arrangement conveying the  right to use) as a capital lease where such lease (or similar arrangement) would not have been  required to be so treated under GAAP as in effect on December 31, 2015, such lease shall not be  considered a capital lease, and all calculations and deliverables under this Agreement or any other  Loan Document shall be made or delivered, as applicable, in accordance therewith.  SECTION 1.05 Interest Rates; Benchmark Notification. The interest rate on a Loan  denominated in dollars or an Alternative Currency may be derived from an interest rate benchmark  that may be discontinued or is, or may in the future become, the subject of regulatory reform.   

 

   45  #153723541_v10  Upon the occurrence of a Benchmark Transition Event, Section 2.14(b) provides a mechanism for  determining an alternative rate of interest.  The Administrative Agent does not warrant or accept  any responsibility for, and shall not have any liability with respect to, the administration,  submission, performance or any other matter related to any interest rate used in this Agreement,  or with respect to any alternative or successor rate thereto, or replacement rate thereof, including  without limitation, whether the composition or characteristics of any such alternative, successor or  replacement reference rate will be similar to, or produce the same value or economic equivalence  of, the existing interest rate being replaced or have the same volume or liquidity as did any existing  interest rate prior to its discontinuance or unavailability.  The Administrative Agent and its  affiliates and/or other related entities may engage in transactions that affect the calculation of any   interest rate used in this Agreement or any alternative, successor or alternative rate (including any  Benchmark Replacement) and/or any relevant adjustments thereto, in each case, in a manner  adverse to the Borrower.  The Administrative Agent may select information sources or services in  its reasonable discretion to ascertain any interest rate used in this Agreement, any component  thereof, or rates referenced in the definition thereof, in each case pursuant to the terms of this  Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity  for damages of any kind, including direct or indirect, special, punitive, incidental or consequential  damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in  equity), for any error or calculation of any such rate (or component thereof) provided by any such  information source or service.  SECTION 1.06 Pro Forma Adjustments for Acquisitions and Dispositions.  To the  extent the Borrower or any Subsidiary makes any acquisition permitted pursuant to Section 6.04  or disposition of assets outside the ordinary course of business permitted by Section 6.05 during  the period of four fiscal quarters of the Borrower most recently ended, the Total Leverage Ratio  shall be calculated after giving pro forma effect thereto (including pro forma adjustments in the  nature of cost savings and synergies arising out of events which are directly attributable to the  acquisition or the disposition of assets, are factually supportable and are expected to have a  continuing impact, in each case as determined on a basis consistent with Article 11 of Regulation  S-X of the Securities Act of 1933, as amended, as interpreted by the SEC, and as certified by a  Financial Officer), as if such acquisition or such disposition (and any related incurrence, repayment  or assumption of Indebtedness) had occurred in the first day of such four-quarter period.  SECTION 1.07 Status of Obligations. In the event that the Borrower or any other  Loan Party shall at any time issue or have outstanding any Subordinated Indebtedness, the  Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary  to cause the Secured 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 Secured 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.  

 

   46  #153723541_v10  SECTION 1.08 Rounding. Any financial ratios required to be maintained by any  Loan Party pursuant to this Agreement shall be calculated by dividing the appropriate component  by the other component, carrying the result to one place more than the number of places by which  such ratio is expressed herein and rounding the result up or down to the nearest number (with a  rounding-up if there is no nearest number).  SECTION 1.09 Divisions.   For all purposes under the Loan Documents, in  connection with any division or plan of division under Delaware law (or any comparable event  under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person  becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to  have been transferred from the original Person to the subsequent Person, and (b) if any new Person  comes into existence, such new Person shall be deemed to have been organized and acquired on  the first date of its existence by the holders of its Equity Interests at such time.  SECTION 1.10 Letter of Credit Amounts.  Unless otherwise specified herein, the  amount of a Letter of Credit at any time shall be deemed to be the Dollar Equivalent of the stated amount  of such Letter of Credit available to be drawn at such time; provided that with respect to any Letter of Credit  that, by its terms or the terms of any Letter of Credit Agreement related thereto, provides for one or more  automatic increases in the available amount thereof, the amount of such Letter of Credit shall be deemed to  be the Dollar Equivalent of the maximum amount of such Letter of Credit after giving effect to all such  increases, whether or not such maximum amount is available to be drawn at such time.  SECTION 1.11 Exchange Rates; Currency Equivalents.  (a) The Administrative  Agent or the Issuing Bank, as applicable, shall determine the Dollar Equivalent amounts of Term  Benchmark Borrowings or Letter of Credit extensions denominated in Alternative Currencies.   Such Dollar Equivalent shall become effective as of such Revaluation Date and shall be the Dollar  Equivalent of such amounts until the next Revaluation Date to occur.  Except for purposes of  financial statements delivered by the Borrower hereunder or calculating financial covenants  hereunder or except as otherwise provided herein, the applicable amount of any Agreed Currency  (other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount  as so determined by the Administrative Agent or the Issuing Bank, as applicable.  (b) Wherever in this Agreement in connection with a Borrowing, conversion,  continuation or prepayment of a Term Benchmark Loan or an RFR Loan or the issuance,  amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple  amount, is expressed in Dollars, but such Borrowing, Loan or Letter of Credit is denominated in  an Alternative Currency, such amount shall be the Dollar Equivalent of such amount (rounded to  the nearest unit of such Alternative Currency, with 0.5 of a unit being rounded upward), as  determined by the Administrative Agent or the Issuing Bank, as the case may be.  ARTICLE II  The Credits  SECTION 2.01 Commitments.  (a) Subject to the terms and conditions set forth herein, each Lender severally (and not  jointly) agrees to make Revolving Loans in Dollars or in one or more Alternative Currencies to  

 

   47  #153723541_v10  the Borrower from time to time during the Availability Period in an aggregate principal amount  that will not result (after giving effect to any application of proceeds of such Borrowing pursuant  to Section 2.10(a)) in (i) such Lender’s Revolving Exposure exceeding such Lender’s Revolving  Commitment or (ii) the Aggregate Revolving Exposure exceeding the aggregate Revolving  Commitments.  Within the foregoing limits and subject to the terms and conditions set forth  herein, the Borrower may borrow, prepay and reborrow Revolving Loans.  (b) The parties hereto acknowledge and agree that immediately prior to the Effective  Date the outstanding principal amount of “Term A Loans” (as defined in the Existing Credit  Agreement) under the Existing Credit Agreement was $14,062,500.  As of the Effective Date,  all of the “Term A Loans” (as defined in the Existing Credit Agreement) outstanding under the  Existing Credit Agreement shall constitute Term A Loans by the Term A Lenders under this  Agreement in accordance with their respective Applicable Percentage thereof.  Subject to the  terms and conditions set forth herein, each Term A Lender severally (and not jointly) agrees to  make additional Term A Loans in Dollars to the Borrower, and continuing through and including  the Term A Draw Expiration Date in an aggregate principal amount not to exceed such remaining  Lender’s Term A Commitment.  Amounts prepaid or repaid in respect of Term A Loans may not  be reborrowed.  SECTION 2.02 Loans and Borrowings.  (a) Each Loan (other than a Swingline Loan) shall be made as part of a Borrowing  consisting of Loans of the same Class and Type made by the Lenders ratably in accordance with  their respective Commitments of the applicable Class.  The failure of any Lender to make any  Loan required to be made by it shall not relieve any other Lender of its obligations hereunder;  provided that the Commitments 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 Borrowing shall be comprised (A) in the case of  Borrowings in Dollars, entirely of ABR Loans or Term Benchmark Loans and (B) in the case of  Borrowings in any other Agreed Currency, entirely of Term Benchmark Loans or RFR Loans,  as applicable, in each case of the same Agreed Currency, as the Borrower may request in  accordance herewith.  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; 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 Term Benchmark Borrowing,  such Borrowing shall be in an aggregate amount that is an integral multiple of the Dollar  Equivalent of $100,000 and not less than the Dollar Equivalent of $500,000.  At the time that  each ABR Borrowing and/or RFR Borrowing is made, such Borrowing shall be in an aggregate  amount that is an integral multiple of the Dollar Equivalent of $100,000 and not less than the  Dollar Equivalent of $500,000; provided that an ABR Borrowing may be in an aggregate amount  that is equal to the entire unused balance of the total Commitments 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 $100,000 and not less than $500,000.   

 

   48  #153723541_v10  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 eight Term Benchmark Borrowings or  RFR Borrowings outstanding.  Anything in this paragraph (c) to the contrary notwithstanding,  additional Term A Loans made after the Effective Date shall be in Dollars only and in an  aggregate amount that is an integral multiple of $1,000,000 and not less than $1,000,000.  (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 Revolving Credit Maturity Date or the Term  A Maturity Date, as applicable.  SECTION 2.03 Requests for Borrowings.  To request a Borrowing, the Borrower  shall notify the Administrative Agent of such request by submitting a Borrowing Request (a)(i) in  the case of a Term Benchmark Borrowing denominated in Dollars, not later than 2:00 p.m., New  York City time, three Business Days before the date of the proposed Borrowing, (ii) in the case of  a Term Benchmark Borrowing denominated in Euros or Yen, not later than 2:00 p.m., New York  City time, three Business Days before the date of the proposed Borrowing, and (iii) in the case of  an RFR Borrowing denominated in Sterling, not later than 11:00 a.m., New York City time, five   RFR Business Days before the date of the proposed Borrowing or (b) in the case of an ABR  Borrowing, not later than 12:00 noon, New York City time, the date of the proposed Borrowing;  provided that any such notice of an ABR Borrowing to finance the reimbursement of an LC  Disbursement as contemplated by Section 2.06(e) may be given not later than 11:00 a.m., New  York City time, on the date of the proposed Borrowing.  Each such Borrowing Request shall be  irrevocable and shall be signed by the Borrower.  Each such telephonic and written Borrowing  Request shall specify the following information in compliance with Section 2.01:    (i) the Agreed Currency and 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, a Term Benchmark  Borrowing or an RFR Borrowing;   (iv) in the case of a Term Benchmark Borrowing, the 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 currency of a Borrowing is specified, then the requested Borrowing shall  be made in Dollars.  If no election as to the Type of Borrowing is specified, then the requested  Borrowing shall be an ABR Borrowing made in Dollars.  If no Interest Period is specified with  respect to any requested Term Benchmark 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.  

 

   49  #153723541_v10  SECTION 2.04 [Intentionally Omitted]  SECTION 2.05 Swingline Loans.     (a) Subject to the terms and conditions set forth herein, from time to time during the  Availability Period, the Swingline Lender may agree, but shall have no obligation, to make  Swingline Loans in Dollars to the Borrower, in an aggregate principal amount at any time  outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline  Loans exceeding the Swingline Lender’s Swingline Commitment, (ii) the Swingline Lender’s  Revolving Exposure exceeding its Revolving Commitment, or (iii) the Aggregate Revolving  Exposure exceeding the aggregate Revolving Commitments; provided that the Swingline Lender  shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan.   Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower  may borrow, prepay and reborrow Swingline Loans.  To request a Swingline Loan, the Borrower  shall notify the Administrative Agent of such request by telephone (confirmed by fax) or through  Electronic System, if arrangements for doing so have been approved by the Administrative  Agent, not later than noon, New York 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, to the extent the Swingline  Lender elects to make such Swingline Loan by means of a credit to the Funding Account(s) (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, and in the case of repayment of  another Loan or fees or expenses as provided by Section 2.18(c), by remittance to the  Administrative Agent to be distributed to the Lenders) by 2:00 p.m., New York time, on the  requested date of such Swingline Loan.  (b) The Swingline Lender may by written notice given to the Administrative Agent  require the Revolving 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 the 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 Applicable Percentage of such Swingline Loan or Loans.  Each  Revolving Lender hereby absolutely and unconditionally agrees, promptly upon receipt of such  notice from the Administrative Agent (and in any event, if such notice is received by 11:00 a.m.,  New York time, on a Business Day no later than 4:00 p.m., New York time on such Business  Day and if received after 11:00 a.m., New York time, “on a Business Day” shall mean no later  than 9:00 a.m. New York time on the immediately succeeding Business Day), 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 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 Revolving  Commitments, and that each such payment shall be made without any offset, abatement,  withholding or reduction whatsoever.  Each Revolving Lender shall comply with its obligation  under this paragraph by wire transfer of immediately available funds, in the same manner as  

 

   50  #153723541_v10  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  Revolving 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 party on  behalf of the Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender of  the proceeds of a sale of participations therein shall be promptly remitted to the Administrative  Agent; any such amounts received by the Administrative Agent shall be promptly remitted by  the Administrative Agent to the Revolving 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 any Agreed Currency as the applicant  thereof for the support of its or its Subsidiaries’ obligations, 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. The  Borrower unconditionally and irrevocably agrees that, in connection with any Letter of Credit  issued for the support of any Subsidiary’s obligations as provided in the first sentence of this  paragraph, the Borrower will be fully responsible for the reimbursement of LC Disbursements  in accordance with the terms hereof, the payment of interest thereon and the payment of fees due  under Section 2.12(b) to the same extent as if it were the sole account party in respect of such  Letter of Credit (the Borrower hereby irrevocably waiving any defenses that might otherwise be  available to it as a guarantor or surety of the obligations of such Subsidiary that is an account  party in respect of any such Letter of Credit).  Notwithstanding anything herein to the contrary,  the Issuing Bank shall have no obligation hereunder to issue, and shall not issue, any Letter of  Credit (i) the proceeds of which would be made available to any Person (A) to fund any activity  or business of or with any Sanctioned Person, or in any country or territory that, at the time of  such funding, is the subject of any Sanctions or (B) in any manner that would result in a violation  of any Sanctions by any party to this Agreement, (ii) if 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 relating 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  

 

   51  #153723541_v10  in effect on the Effective Date, or shall impose upon the Issuing Bank any unreimbursed loss,  cost or expense which was not applicable on the Effective Date and which the Issuing Bank in  good faith deems material to it, or (iii) if the issuance of such Letter of Credit would violate one  or more policies of the Issuing Bank applicable to letters of credit generally; provided that,  notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and  Consumer Protection Act and all requests, rules, guidelines, requirements or directives  thereunder or issued in connection therewith or in the implementation thereof, and (y) all  requests, rules, guidelines, requirements or directives promulgated by the Bank for International  Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority)  or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in  each case be deemed not to be in effect on the Effective Date for purposes of clause (ii) above,  regardless of the date enacted, adopted, issued or implemented.  (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 fax (or transmit through  Electronic System, 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, but in any event no less than three Business Days)  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 and currency of such Letter  of Credit, 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) the aggregate LC  Exposure shall not exceed $5,000,000, (ii) no Revolving Lender’s Revolving Exposure shall  exceed its Revolving Commitment, and (iii) the Aggregate Revolving Exposure shall not exceed  the aggregate Revolving Commitments.  Notwithstanding the foregoing or anything to the  contrary contained herein, the Issuing Bank shall not be obligated to issue or modify any Letter  of Credit if, immediately after giving effect thereto, the outstanding LC Exposure in respect of  all Letters of Credit issued by Issuing Bank and its Affiliates would exceed the Issuing Bank’s  Issuing Bank Sublimit.  Without limiting the foregoing and without affecting the limitations  contained herein, it is understood and agreed that the Borrower may from time to time request  that the Issuing Bank issue Letters of Credit in excess of its individual Issuing Bank Sublimit in  effect at the time of such request, and the Issuing Bank agrees to consider any such request in  good faith.  Any Letter of Credit so issued by the Issuing Bank in excess of its individual Issuing  Bank Sublimit then in effect shall nonetheless constitute a Letter of Credit for all purposes of the  Credit Agreement, and shall not affect the Issuing Bank Sublimit of any other Issuing Bank,  subject to the limitations on the aggregate LC Exposure set forth in clause (i) of this Section  2.06(b).  

 

   52  #153723541_v10  (c) Expiration Date.  Each Letter of Credit shall expire (or be subject to termination or  non-renewal by notice from the Issuing Bank to the beneficiary thereof) at or prior to the close  of business on the earlier of (i) the date one year after the date of the issuance of such Letter of  Credit (or, in the case of any renewal or extension thereof, including, without limitation, any  automatic renewal provision, one year after such renewal or extension) and (ii) the date that is  five Business Days prior to the Revolving Credit 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 Revolving Lenders, the Issuing Bank hereby 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 Lender’s Applicable Percentage of the aggregate amount available to be  drawn under such Letter of Credit.  In consideration and in furtherance of the foregoing, each  Revolving 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 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, 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 an amount in the currency equal to such LC Disbursement not later than  noon, New York time, on (i) the Business Day that the Borrower receives notice of such LC  Disbursement, if such notice is received prior to 9:00 a.m., New York time, on the day of receipt,  or (ii) the Business Day immediately following the day that the Borrower receives such notice,  if such notice is received after 9:00 a.m., New York time, on the day of receipt; provided that (x)  if such LC Disbursement is denominated in Dollars, 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 amount or  (y) if such LC Disbursement is denominated in an Alternative Currency, the Borrower may,  subject to the conditions to borrowing set forth herein, request in accordance with Section 2.03  that such payment be converted into an equivalent amount of an ABR Revolving Borrowing  denominated in Dollars in an amount equal to the Dollar Equivalent of such Alternative  Currency, and, in each case, 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, as applicable.  If the Borrower fails to make such payment when due, the  Administrative Agent shall notify each Revolving 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 Revolving 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  

 

   53  #153723541_v10  Revolving Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the  amounts so received by it from the Revolving 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  Revolving 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 Revolving Lender pursuant to this paragraph to reimburse the Issuing Bank for any  LC Disbursement (other than the funding of CBFR Revolving Loans or Swingline Loan as  contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its  obligation to reimburse such LC Disbursement.  (f) Obligations Absolute.  The Borrower’s obligation to reimburse LC Disbursements  as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and  shall be performed strictly in accordance with the terms of this Agreement under any and all  circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any  Letter of Credit or this Agreement, or any term or provision therein or herein, (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) any 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,  (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. or (v) any adverse change in the relevant exchange rates or in  the availability of the relevant Alternative Currency to the Borrower or any Subsidiary or in the  relevant currency markets generally.  None of the Administrative Agent, the Revolving Lenders  or the Issuing Bank, or 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 special, indirect, consequential  or punitive 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.  

 

   54  #153723541_v10  (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 fax or through Electronic Systems) 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 Revolving 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 in the applicable currency 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 CBFR  Revolving Loans and such interest shall be due and payable on the date when such  reimbursement is due; 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 Revolving 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.  (i) Replacement of the Issuing Bank.  (i) 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 Revolving  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 Bank, as the context shall  require.  After the replacement of the Issuing Bank hereunder, the replaced Issuing Bank shall  remain a party hereto and shall continue to have all the rights and obligations of the Issuing Bank  under this Agreement with respect to Letters of Credit then outstanding and issued by it prior to  such replacement, but shall not be required to issue additional Letters of Credit.  (ii) Subject to  the appointment and acceptance of a successor Issuing Bank, the Issuing Bank may resign as the  Issuing Bank at any time upon thirty days’ prior written notice to the Administrative Agent, the  Borrower and the Lenders, in which case, such resigning Issuing Bank shall be replaced in  accordance with Section 2.06(i) above.  (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, Revolving Lenders with  LC Exposure representing greater than 50% of the aggregate 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  

 

   55  #153723541_v10  the Revolving Lenders (the “LC Collateral Account”), an amount in cash equal to one hundred  and three percent (103%) of the amount of the LC Exposure as of such date plus accrued and  unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become  effective immediately, and such deposit shall become immediately due and payable, without  demand or other notice of any kind, upon the occurrence of any Event of Default with respect to  the Borrower described in clause (h) or (i) of Article VII.  The Borrower also shall deposit cash  collateral in accordance with this paragraph as and to the extent required by Section 2.11(b) or  2.20. Each such deposit shall be held by the Administrative Agent as collateral for the payment  and performance of the Secured Obligations.  The Administrative Agent shall have exclusive  dominion and control, including the exclusive right of withdrawal, over the LC Collateral  Account and the Borrower hereby grants the Administrative Agent a security interest in the LC  Collateral Account and all moneys or other assets on deposit therein or credited thereto.  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 Revolving Lenders with LC Exposure  representing greater than 50% of the aggregate LC Exposure), be applied to satisfy other Secured  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 such Events  of Default have been cured or waived as confirmed in writing by the Administrative Agent.  (k) LC Exposure Determination.  For all purposes of this Agreement, the amount of a  Letter of Credit that, by its terms or the terms of any document related thereto, provides for one  or more automatic increases in the stated amount thereof shall be deemed to be the maximum  stated amount of such Letter of Credit after giving effect to all such increases, whether or not  such maximum stated amount is in effect at the time of determination.  (l) Letters of Credit Issued for Account of Subsidiaries.  Notwithstanding that a Letter  of Credit issued or outstanding hereunder supports any obligations of, or is for the account of, a  Subsidiary, or states that a Subsidiary is the “account party,” “applicant,” “customer,”  “instructing party,” or the like of or for such Letter of Credit, and without derogating from any  rights of the applicable Issuing Bank (whether arising by contract, at law, in equity or otherwise)  against such Subsidiary in respect of such Letter of Credit, the Borrower (i) shall reimburse,  indemnify and compensate the applicable Issuing Bank hereunder for such Letter of Credit  (including to reimburse any and all drawings thereunder) as if such Letter of Credit had been  issued solely for the account of the Borrower and (ii) irrevocably waives any and all defenses  that might otherwise be available to it as a guarantor or surety of any or all of the obligations of  such Subsidiary in respect of such Letter of Credit.  The Borrower hereby acknowledges that the  issuance of such Letters of Credit for its Subsidiaries inures to the benefit of the Borrower  

 

   56  #153723541_v10  SECTION 2.07 Funding of Borrowings.  (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date  thereof solely by wire transfer of immediately available funds, by 12:00 noon, New York City  time, to the account of the Administrative Agent most recently designated by it for such purpose  by notice to the Lenders; provided that Swingline Loans shall be made as provided in Section  2.05.  Except in respect of the provisions of this Agreement covering the reimbursement of  Letters of Credit, the Administrative Agent will make such Loans available to the Borrower by  promptly crediting the funds so received in the aforesaid account of the Administrative Agent to  the Funding Account; 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 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 applicable Overnight  Rate and a rate determined by the Administrative Agent in accordance with banking industry  rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable  to ABR Loans, or in the case of Alternative Currencies, in accordance with such market practice,  in each case, as applicable.  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 Borrowing initially shall be of the Type and Agreed Currency specified in the  applicable Borrowing Request and, in the case of a Term Benchmark 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 Term Benchmark 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 through Electronic System, if  arrangements for doing so have been approved by the Administrative Agent, by the time that a  Borrowing Request would be required under Section 2.03 if the Borrower were requesting a  

 

   57  #153723541_v10  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, Electronic System or fax to the Administrative Agent of  a written Interest Election Request in a form approved by the Administrative Agent and signed  by the Borrower.  (c) Each telephonic and written Interest Election Request (including requests  submitted through Electronic System) shall specify the following information in compliance  with Section 2.02:  (i) the Agreed Currency and principal amount of 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 (in the case of  Borrowings denominated in Dollars) or a Term Benchmark Borrowing or an RFR Borrowing (in  the case of Borrowings denominated in Sterling); and  (iv) if the resulting Borrowing is a Term Benchmark 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 Term Benchmark 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 applicable Class 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  Term Benchmark Borrowing in Dollars 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 deemed to have an Interest Period that is one month.  If the Borrower fails  to deliver a timely and complete Interest Election Request with respect to a Term Benchmark  Borrowing in an Alternative Currency prior to the end of the Interest Period therefor, then, unless  such Term Benchmark Borrowing is repaid as provided herein, the Borrower shall be deemed to  have selected that such Term Benchmark Borrowing shall automatically be continued as a Term  Benchmark Borrowing in its original Agreed Currency with an Interest Period of one month at  the end of such Interest Period.  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 Borrowing may be converted to or continued as a Term Benchmark Borrowing  

 

   58  #153723541_v10  and (ii) unless repaid, (x) each Term Benchmark Borrowing and each RFR Borrowing, in each  case denominated in Dollars shall be converted to an ABR Borrowing at the end of the Interest  Period applicable thereto and (y) each Term Benchmark Borrowing and each RFR Borrowing,  in each case denominated in an Alternative Currency shall bear interest at the Central Bank Rate  (or in the case of Yen, the Japanese Prime Rate) for the applicable Agreed Currency plus the  CBR Spread; provided that, if the Administrative Agent determines (which determination shall  be conclusive and binding absent manifest error) that the Central Bank Rate (or in the case of  Yen, the Japanese Prime Rate) for the applicable Agreed Currency cannot be determined, any  outstanding affected Term Benchmark Loans denominated in any Agreed Currency other than  Dollars shall either be (A) converted to an ABR Borrowing denominated in Dollars (in an amount  equal to the Dollar Equivalent of such Alternative Currency) at the end of the Interest Period, as  applicable, therefor or (B) prepaid at the end of the applicable Interest Period, as applicable, in  full; provided that if no election is made by the Borrower by the earlier of (x) the date that is  three Business Days after receipt by the Borrower of such notice and (y) the last day of the  current Interest Period for the applicable Term Benchmark Loan, the Borrower shall be deemed  to have elected clause (A) above.    SECTION 2.09 Termination, Reduction, and Increase of Commitments.  (a) Unless previously terminated, (i) the Term A Commitments shall terminate at 5:00  p.m., New York time, on the Term A Draw Expiration Date and (ii) all the Revolving  Commitments shall terminate on the Revolving Credit Maturity Date.  (b) The Borrower may at any time terminate the Commitments upon the Payment in  Full of the Secured Obligations.  (c) The Borrower may from time to time reduce the Revolving Commitments; provided  that (i) each reduction of the Revolving Commitments shall be in an amount that is an integral  multiple of $500,000 and not less than $500,000 and (ii) the Borrower shall not terminate or  reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the  Revolving Loans in accordance with Section 2.11, the Aggregate Revolving Exposure would  exceed the aggregate Revolving Commitments.  (d) The Borrower shall notify the Administrative Agent of any election to terminate or  reduce the Commitments under paragraph (b) or (c) 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.  

 

   59  #153723541_v10  (e) The Borrower shall have the right to request increases in the Term A Loan or  additional term loan facilities and/or increases in the Revolving Commitments by obtaining  additional Commitments, either from one or more of the Lenders or another lending institution,  provided that (i) any such request for an increase shall be in a minimum amount of $2,500,000,  (ii) the Borrower may make a maximum of two such requests, (iii) after giving effect thereto,  the sum of the total of the additional Commitments does not exceed $10,000,000 during the term  of this Agreement, (iv) the Administrative Agent, the Swingline Lender and the Issuing Bank  have approved the identity of any such new Lender, such approvals not to be unreasonably  withheld, (v) any such new Lender assumes all of the rights and obligations of a “Lender”  hereunder, and (vi) the procedures described in Section 2.09(g) below have been satisfied.  Nothing contained in this Section 2.09 shall constitute, or otherwise be deemed to be, a  commitment on the part of any Lender to increase its Commitment hereunder at any time.  (f) Any amendment hereto for such an increase or addition shall be in form and  substance satisfactory to the Administrative Agent and shall only require the written signatures  of the Administrative Agent, the Borrower and each Lender being added or increasing its  Commitment. As a condition precedent to such an increase or addition, the Borrower shall  deliver to the Administrative Agent (i) a certificate of each Loan Party signed by an authorized  officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan  Party approving or consenting to such increase, and (B) in the case of the Borrower, certifying  that, before and after giving effect to such increase or addition, (1) the representations and  warranties contained in Article III and the other Loan Documents are true and correct, except to  the extent that such representations and warranties specifically refer to an earlier date, in which  case they are true and correct as of such earlier date, (2) no Default exists and (3) the Borrower  is in compliance (on a pro forma basis) with the covenants contained in Section 6.12 and (ii)  legal opinions and documents consistent with those delivered on the Effective Date, to the extent  requested by the Administrative Agent.  (g) With respect to increases in the Revolving Commitment, on the effective date of  any such increase or addition, (i) any Lender increasing (or, in the case of any newly added  Lender, extending) its Commitment 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 or addition and the use of such amounts to make payments to such other Lenders, each  Lender’s portion of the outstanding Loans of all the Lenders to equal its revised Applicable  Percentage of such outstanding Loans, and the Administrative Agent shall make such other  adjustments among the Lenders with respect to the Loans then outstanding and amounts of  principal, interest, commitment fees and other amounts paid or payable with respect thereto as  shall be necessary, in the opinion of the Administrative Agent, in order to effect such reallocation  and (ii) the Borrower shall be deemed to have repaid and reborrowed all outstanding Loans as  of the date of any increase (or addition) in the Commitments (with such reborrowing to consist  of the Types of 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 Term Benchmark Loan,  shall be subject to indemnification by the Borrower pursuant to the provisions of Section 2.16 if  the deemed payment occurs other than on the last day of the related Interest Periods.  Within a  

 

   60  #153723541_v10  reasonable time after the effective date of any increase or addition, the Administrative Agent  shall, and is hereby authorized and directed to, revise the Commitment Schedule to reflect such  increase or addition and shall distribute such revised Commitment Schedule to each of the  Lenders and the Borrower, whereupon such revised Commitment Schedule shall replace the old  Commitment Schedule and become part of this Agreement.  (h) Any additional term loan facilities made pursuant thereto shall be in the form of  and constitute a Loan that shall be made subject to all of the terms and conditions contained in  this Agreement (including, without limitation, the conditions set forth in Section 4.02) applicable  to, and shall constitute and comprise a portion of, the Loans and Obligations and, except as  otherwise provided in this Section 2.09(h), shall be on terms substantially consistent with, and  no more favorable than, or to the extent not consistent (except as otherwise provided in this  Section 2.09(h)), on terms reasonably acceptable to Administrative Agent, those applicable to  the Term A Loans. Any additional term loan facilities (A) subject to Section 2.01, shall be repaid  as agreed to by Borrower and the Lenders providing such additional term loans, provided that  the neither the maturity nor the weighted average life to maturity of the payments with respect  thereto shall be shorter than any existing Term Loans; (B) shall for all purposes be Loans and  Obligations hereunder and under the Loan Documents; and (C) shall rank pari passu with the  other Term A Loans for purposes of Sections 2.18 and 2.19 hereof. Any additional term loans  shall bear interest at the Alternate Base Rate, the Adjusted EURIBOR Rate, the Adjusted TIBOR  Rate, or the Adjusted Term SOFR Rate (including, without limitation, the Applicable Margin  with respect thereto) agreed upon by Borrower the Lenders providing such additional term loans  therefor. With respect to additional term loan facilities and the Lenders providing the same, to  the extent that the pricing (calculated based on the interest rate margins, upfront fees paid to such  Lenders, original issue discount (calculated based on an assumed four year life to maturity), and  any interest rate floor) applicable to any such additional term loan facilities is greater than the  pricing (calculated based on the interest rate margin, upfront fees paid to the then existing  Lenders, original issue discount (calculated based on an assumed four year life to maturity), and  the interest rate floor) then applicable to the outstanding Term A Loans by more than 0.50%,  then the interest rate margin and, if applicable, any interest rate floor for then outstanding Term  A Loans shall be automatically increased to an amount which is 0.50% less than the pricing  (calculated based on the interest rate margins, upfront fees paid to such Lenders providing  additional term loans, original issue discount (calculated based on an assumed four year life to  maturity), and any interest rate floor) for such additional term loans. In calculating the pricing  for any series of Term A Loans, arrangement fees, underwriting fees, and similar fees that are  not paid to all Lenders or all applicable Lenders shall be disregarded.  SECTION 2.10 Repayment and Amortization of Loans; Evidence of Debt.  (a) The Borrower hereby unconditionally promises to pay (i) to the Administrative  Agent for the account of each Revolving Lender the then unpaid principal amount of each  Revolving Loan on the Revolving Credit Maturity Date, and (ii) to the Swingline Lender the  then unpaid principal amount of each Swingline Loan on the earlier of the Revolving Credit  Maturity Date and the fifth Business Day after such Swingline Loan is made; provided that on  each date that a Revolving Loan is made, the Borrower shall repay all Swingline Loans then  outstanding and the proceeds of any such Revolving Loan shall be applied by the Administrative  Agent to repay any Swingline Loans outstanding.  

 

   61  #153723541_v10  (b) The Borrower hereby unconditionally promises to pay to the Administrative Agent  for the account of each Term A Lender on each date set forth below the aggregate principal  amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d)  or 2.18(b)):  Date Amount  Each of June 30, 2022, September 30,  2022, and December 31, 2022  1.25% of the  outstanding  principal amount of  Term A Loans on  the Effective date  Each of March 31, 2023, June 30, 2023,  September 30, 2023, and December 31,  2023  1.25% of the  outstanding  principal amount of  Term A Loans on  the Amortization  Reset Date  Each of March 31, 2024, June 30, 2024,  September 30, 2024, and December 31,  2024  1.875% of the  outstanding  principal amount of  Term A Loans on  the Amortization  Reset Date  Each of March 31, 2025, June 30, 2025,  September 30, 2025, and December 31,  2025  2.50% of the  outstanding  principal amount of  Term A Loans on  the Amortization  Reset Date  Term A Maturity Date The entire unpaid  principal amount of  all Term A Loans    ; provided if any date set forth above is not a Business Day, then payment shall be due and payable  on the Business Day immediately preceding such date.  To the extent not previously paid, all  unpaid Term A Loans shall be paid in full in cash by the Borrower on the Term A Maturity Date.    (c) Prior to any repayment of any Term Loan Borrowings of any Class, if applicable,  under this Section, the Borrower shall select the Borrowing or Borrowings of the applicable  Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of  such selection not later than noon, New York time, three (3) Business Days before the scheduled  date of such repayment.  Each repayment of a Term Loan Borrowing of any Class shall be  applied ratably to the Loans included in the repaid Term Loan Borrowing.  Repayments of Term  Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.  (d) 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  

 

   62  #153723541_v10  made by such Lender, including the amounts of principal and interest payable and paid to such  Lender from time to time hereunder.  (e) The Administrative Agent shall maintain accounts in which it shall record (i) the  amount of each Loan made hereunder, the Class and Type thereof and the Interest Period  applicable thereto, if any, (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.  (f) The entries made in the accounts maintained pursuant to paragraph (d) or (e) 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.  (g) 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 such Lender (or, if requested by such Lender, to such Lender and its registered  assigns) and in a form approved by the Administrative Agent.  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.  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 paragraph (e) of this  Section and, if applicable, payment of any break funding expenses under Section 2.16.  (b) In the event and on such occasion that the Aggregate Revolving Exposure exceeds  the aggregate Revolving Commitments, the Borrower shall prepay the Revolving Loans, the LC  Exposure and the Swingline Loans (or, if no such Borrowings are outstanding, deposit cash  collateral in the LC Collateral Account in an aggregate amount equal to such excess, in  accordance with Section 2.06(j)).  (c) In the event and on each occasion that any Net Proceeds are received by or on behalf  of any other Loan Party or any Subsidiary in respect of any Prepayment Event, the Borrower  shall, immediately after such Net Proceeds are received by any other Loan Party or Subsidiary,  prepay the Obligations and cash collateralize the LC Exposure as set forth in Section 2.11(d)  below in an aggregate amount equal to 100% of such Net Proceeds, provided that, in the case of  any event described in clause (a) or (b) of the definition of the term “Prepayment Event”, if the  Borrower shall deliver to the Administrative Agent a certificate of a Financial Officer to the  effect that the Loan Parties intend to apply the Net Proceeds from such event (or a portion thereof  specified in such certificate), within 180 days after receipt of such Net Proceeds, to acquire (or  replace or rebuild) real property, equipment or other tangible assets (excluding inventory) to be  used in the business of the Loan Parties, and certifying that no Event of Default has occurred and  is continuing, then no prepayment shall be required pursuant to this paragraph in respect of the  

 

   63  #153723541_v10  Net Proceeds specified in such certificate, provided that to the extent of any such Net Proceeds  that have not been so applied by the end of such 180-day period, a prepayment shall be required  at such time in an amount equal to such Net Proceeds that have not been so applied.   (d) All prepayments required to be made pursuant to Section 2.11(c) shall be applied,  first to prepay the Term Loans (and in the event Term Loans of more than one Class shall be  outstanding at the time, shall be allocated among the Term Loans pro rata based on the aggregate  principal amounts of outstanding Term Loans of each such Class) as so allocated, and shall be  applied to reduce the subsequent scheduled repayments of Term Loans of each Class to be made  pursuant to Section 2.10 ratably based on the amount of such scheduled repayments and second  to prepay the Revolving Loans (including Swingline Loans) without a corresponding reduction  in the Revolving Commitments and third to repay the outstanding LC Exposure (or, if no such  Borrowings are outstanding deposit cash collateral in the LC Collateral Account in an aggregate  amount equal to such excess in accordance with Section 2.06(j)).  (e) The Borrower shall notify the Administrative Agent (and, in the case of prepayment  of a Swingline Loan, the Swingline Lender) by telephone (confirmed by fax) or through  Electronic System, if arrangements for doing so have been approved by the Administrative  Agent, of any prepayment under this Section (i)(w) in the case of prepayment of a Term  Benchmark Borrowing denominated in Dollars, not later than 2:00 p.m., New York City time,  three Business Days before the date of prepayment, (x) in the case of prepayment of a Term  Benchmark Borrowing denominated in Euros or Yen, not later than 2:00 p.m., New York City  time, three Business Days before the date of prepayment, and (y) in the case of prepayment of  an RFR Borrowing denominated in Sterling, not later than 12:00 noon, New York City time, five  RFR Business Days before the date of prepayment, or (ii) in the case of prepayment of an ABR  Borrowing, not later than 2:00 p.m., New York City time, one Business Day before 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, 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 an advance of a Borrowing of the same Type as provided  in Section 2.02, except as necessary to apply fully the required amount of mandatory  prepayment.  Each prepayment of a Borrowing shall be applied ratably to the Loans included in  the prepaid Borrowing.  Prepayments shall be accompanied by accrued interest to the extent  required by Section 2.13 and any break funding payments required by Section 2.16.  SECTION 2.12 Fees.  (a) The Borrower agrees to pay to the Administrative Agent a commitment fee for the  account of each Revolving Lender, which shall accrue at the Applicable Rate on the daily amount  of the undrawn portion of the Revolving Commitment of such Lender during the period from  and including the Effective Date to but excluding the date on which the Lenders’ Revolving  Commitments terminate; it being understood that the LC Exposure of a Lender shall be included  

 

   64  #153723541_v10  and the Swingline Exposure of a Lender shall be excluded in the drawn portion of the Revolving  Commitment of such Lender for purposes of calculating the commitment fee.  Accrued  commitment fees shall be payable in arrears on the last Business Day of March, June, September  and December of each year and on the date on which the Revolving Commitments terminate,  commencing on the first such date to occur after the date hereof.  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  Revolving Lender a participation fee with respect to its participations in each outstanding Letter  of Credit, which shall accrue on the Dollar Equivalent of the daily maximum stated amount then  available to be drawn under such Letter of Credit at the same Applicable Rate used to determine  the interest rate applicable to Term Benchmark Revolving Loans, during the period from and  including the Effective Date (or, if earlier, from and including the date of the issuance of such  Letter of Credit) 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, which shall accrue at the rate of 0.125% per annum  on the Dollar Equivalent of the daily maximum amount of the LC Exposure attributable to Letters  of Credit issued by the Issuing Bank (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 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.  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 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 Revolving Commitments terminate and 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 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).  (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, including, without limitation, pursuant to the Fee Letter.  (d) All fees payable hereunder shall be paid on the dates due, in 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 entitled  thereto.  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.  

 

   65  #153723541_v10  (b) The Loans comprising each Term Benchmark Borrowing shall bear interest in the  case of a Term Benchmark Loan, at the Adjusted Term SOFR Rate, the Adjusted EURIBOR  Rate or the Adjusted TIBOR Rate, as applicable, for the Interest Period in effect for such  Borrowing plus the Applicable Rate.  (c) Each RFR Loan shall bear interest at a rate per annum equal to the applicable  Adjusted Daily Simple RFR plus the Applicable Rate.  (d) Notwithstanding the foregoing, during the occurrence and continuance of an Event  of Default, the Administrative Agent or the Required Lenders may, at their option, by notice to  the Borrower (which notice may be revoked at the option of the Required Lenders  notwithstanding any provision of Section 9.02 requiring the consent of “each Lender affected  thereby” for reductions in interest rates), declare that (i) all Loans and Letter of Credit fees shall  bear interest at 2% plus the rate otherwise applicable to such Loans and Letter of Credit fees as  provided in the preceding paragraphs of this Section or Section 2.12(b) or (ii) in the case of any  other amount outstanding hereunder, such amount shall accrue at 2% plus the rate applicable to  ABR Borrowings.  (e) Accrued interest on each Loan shall be payable in arrears on each Interest Payment  Date for such Loan and, in the case of Revolving Loans, upon termination of the Revolving  Commitments; provided that (i) interest accrued pursuant to paragraph (d) 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 Term Benchmark 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.  (f) Interest computed by reference to the Term SOFR Rate, the EURIBOR Rate or  Daily Simple RFR with respect to and Dollars hereunder shall be computed on the basis of a  year of 360 days.  Interest computed by reference to the Daily Simple RFR with respect to  Sterling, the TIBOR Rate or 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).  In each case interest shall be payable for the actual number of days elapsed (including  the first day but excluding the last day).  All interest hereunder on any Loan shall be computed  on a daily basis based upon the outstanding principal amount of such Loan as of the applicable  date of determination.  The applicable Alternate Base Rate, Adjusted Term SOFR Rate, Adjusted  EURIBOR Rate, EURIBOR Rate, Adjusted TIBOR Rate, TIBOR Rate, Adjusted Daily Simple  RFR or Daily Simple RFR shall be determined by the Administrative Agent, and such  determination shall be conclusive absent manifest error.  SECTION 2.14 Alternate Rate of Interest.  (a) Subject to clauses (b), (c), (d), (e) and (f) of this Section 2.14, if:  (i) the Administrative Agent determines (which determination shall be  conclusive absent manifest error) (A) prior to the commencement of any Interest Period for a Term  

 

   66  #153723541_v10  Benchmark Borrowing, that adequate and reasonable means do not exist for ascertaining the  Adjusted Term SOFR Rate, the Term SOFR Rate, the Adjusted EURIBOR Rate, the EURIBOR  Rate or the Adjusted TIBOR Rate or the TIBOR Rate (including because the Relevant Screen Rate  is not available or published on a current basis), for the applicable Agreed Currency and such  Interest Period or (B) at any time, that adequate and reasonable means do not exist for ascertaining  the applicable Adjusted Daily Simple RFR, Daily Simple RFR or RFR for the applicable Agreed  Currency; or   (ii) the Administrative Agent is advised by the Required Lenders that (A) prior  to the commencement of any Interest Period for a Term Benchmark Borrowing, the Adjusted Term  SOFR Rate, the Adjusted EURIBOR Rate or the Adjusted TIBOR Rate for the applicable Agreed  Currency and 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 the  applicable Agreed Currency and such Interest Period or (B) at any time, the applicable Adjusted  Daily Simple RFR for the applicable Agreed Currency 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 the applicable Agreed Currency;  then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by  telephone, telecopy or electronic mail as promptly as practicable thereafter and, until (x) the  Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to  such notice no longer exist with respect to the relevant Benchmark and (y) the Borrower delivers  a new Interest Election Request in accordance with the terms of Section 2.08 or a new Borrowing  Request in accordance with the terms of Section 2.03, (A) for Loans denominated in Dollars, any  Interest Election Request that requests the conversion of any Borrowing to, or continuation of any  Borrowing as, a Term Benchmark Borrowing and any Borrowing Request that requests a Term  Benchmark Borrowing shall instead be deemed to be an Interest Election Request or a Borrowing  Request, as applicable, for (x) an RFR Borrowing denominated in Dollars so long as the Adjusted  Daily Simple RFR for Dollar Borrowings is not also the subject of Section 2.14(a)(i) or (ii) above  or (y) an ABR Borrowing if the Adjusted Daily Simple RFR for Dollar Borrowings also is the  subject of Section 2.14(a)(i) or (ii) above and (B) for Loans denominated in an Alternative  Currency, any Interest Election Request that requests the conversion of any Borrowing to, or  continuation of any Borrowing as, a Term Benchmark Borrowing and any Borrowing Request that  requests a Term Benchmark Borrowing or an RFR Borrowing, in each case, for the relevant  Benchmark, shall be ineffective; provided that if the circumstances giving rise to such notice affect  only one Type of Borrowings, then all other Types of Borrowings shall be permitted.  Furthermore,  if any Term Benchmark Loan or RFR Loan in any Agreed Currency is outstanding on the date of  the Borrower’s receipt of the notice from the Administrative Agent referred to in this Section  2.14(a) with respect to a Relevant Rate applicable to such Term Benchmark Loan or RFR Loan,  then until (x) the Administrative Agent notifies the Borrower and the Lenders that the  circumstances giving rise to such notice no longer exist with respect to the relevant Benchmark  and (y) the Borrower delivers a new Interest Election Request in accordance with the terms of  Section 2.08 or a new Borrowing Request in accordance with the terms of Section 2.03, (A) for  Loans denominated in Dollars, any Term Benchmark Loan shall on the last day of the Interest  Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business  Day), be converted by the Administrative Agent to, and shall constitute, (x) an RFR Borrowing  denominated in Dollars so long as the Adjusted Daily Simple RFR for Dollar Borrowings is not  

 

   67  #153723541_v10  also the subject of Section 2.14(a)(i) or (ii) above or (y) an ABR Loan if the Adjusted Daily Simple  RFR for Dollar Borrowings also is the subject of Section 2.14(a)(i) or (ii) above, on such day, and  (B) for Loans denominated in an Alternative Currency, (1) any Term Benchmark Loan shall, on  the last day of the Interest Period applicable to such Loan (or the next succeeding Business Day if  such day is not a Business Day) bear interest at the Central Bank Rate (or in the case of Yen, the  Japanese Prime Rate) for the applicable Alternative Currency plus the CBR Spread; provided that,  if the Administrative Agent determines (which determination shall be conclusive and binding  absent manifest error) that the Central Bank Rate (or in the case of Yen, the Japanese Prime Rate)  for the applicable Alternative Currency cannot be determined, any outstanding affected Term  Benchmark Loans denominated in any Alternative Currency shall, at the Borrower’s election prior  to such day: (A) be prepaid by the Borrower on such day or (B) solely for the purpose of calculating  the interest rate applicable to such Term Benchmark Loan, such Term Benchmark Loan  denominated in any Alternative Currency shall be deemed to be a Term Benchmark Loan  denominated in Dollars and shall accrue interest at the same interest rate applicable to Term  Benchmark Loans denominated in Dollars at such time  and (2) any RFR Loan shall bear interest  at the Central Bank Rate (or in the case of Yen, the Japanese Prime Rate) for the applicable  Alternative Currency plus the CBR Spread; provided that, if the Administrative Agent determines  (which determination shall be conclusive and binding absent manifest error) that the Central Bank  Rate (or in the case of Yen, the Japanese Prime Rate) for the applicable Alternative Currency  cannot be determined, any outstanding affected RFR Loans denominated in any Alternative  Currency, at the Borrower’s election, shall either (A) be converted into ABR Loans denominated  in Dollars (in an amount equal to the Dollar Equivalent of such Alternative Currency) immediately  or (B) be prepaid in full immediately.  (b) Notwithstanding anything to the contrary herein or in any other Loan Document, if  a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior  to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if a  Benchmark Replacement is determined in accordance with clause (1) of the definition of  “Benchmark Replacement” with respect to Dollars for such Benchmark Replacement Date, such  Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any  Loan Document in respect of such Benchmark setting and subsequent Benchmark settings  without any amendment to, or further action or consent of any other party to, this Agreement or  any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with  clause (2) of the definition of “Benchmark Replacement” with respect to any Agreed Currency  for such Benchmark Replacement Date, such Benchmark Replacement will replace such  Benchmark for all purposes hereunder and under any Loan Document in respect of any  Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day  after the date notice of such Benchmark Replacement is provided to the Lenders without any  amendment to, or further action or consent of any other party to, this Agreement or any other  Loan Document so long as the Administrative Agent has not received, by such time, written  notice of objection to such Benchmark Replacement from Lenders comprising the Required  Lenders of each affected Class.  (c) Notwithstanding anything to the contrary herein or in any other Loan Document,  the Administrative Agent will have the right to make Benchmark Replacement Conforming  Changes from time to time and, notwithstanding anything to the contrary herein or in any other  Loan Document, any amendments implementing such Benchmark Replacement Conforming  

 

   68  #153723541_v10  Changes will become effective without any further action or consent of any other party to this  Agreement or any other Loan Document.  (d) The Administrative Agent will promptly notify the Borrower and the Lenders of (i)  any occurrence of a Benchmark Transition Event, (ii) the implementation of any Benchmark  Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (iv)  the removal or reinstatement of any tenor of a Benchmark pursuant to clause (f) below and (v)  the commencement or conclusion of any Benchmark Unavailability Period.  Any determination,  decision or election that may be made by the Administrative Agent or, if applicable, any Lender  (or group of Lenders) pursuant to this Section 2.14, including any determination with respect to  a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or  date and any decision to take or refrain from taking any action or any selection, will be conclusive  and binding absent manifest error and may be made in its or their sole discretion and without  consent from any other party to this Agreement or any other Loan Document, except, in each  case, as expressly required pursuant to this Section 2.14.    (e) Notwithstanding anything to the contrary herein or in any other Loan Document, at  any time (including in connection with the implementation of a Benchmark Replacement), (i) if  the then-current Benchmark is a term rate (including the Term SOFR Rate, EURIBOR Rate or  TIBOR Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other  information service that publishes such rate from time to time as selected by the Administrative  Agent in its reasonable discretion or (B) the regulatory supervisor for the administrator of such  Benchmark has provided a public statement or publication of information announcing that any  tenor for such Benchmark is or will be no longer representative, then the Administrative Agent  may modify the definition of “Interest Period” for any Benchmark settings at or after such time  to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed  pursuant to clause (i) above either (A) is subsequently displayed on a screen or information  service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer,  subject to an announcement that it is or will no longer be representative for a Benchmark  (including a Benchmark Replacement), then the Administrative Agent may modify the definition  of “Interest Period” for all Benchmark settings at or after such time to reinstate such previously  removed tenor.  (f) Upon the Borrower’s receipt of notice of the commencement of a Benchmark  Unavailability Period, the Borrower may revoke any request for a Term Benchmark Borrowing  or RFR Borrowing of, conversion to or continuation of Term Benchmark Loans to be made,  converted or continued during any Benchmark Unavailability Period and, failing that, either (x)  the Borrower will be deemed to have converted any request for (1) a Term Benchmark  Borrowing denominated in Dollars into a request for a Borrowing of or conversion to (A) an  RFR Borrowing denominated in Dollars so long as the Adjusted Daily Simple RFR for Dollar  Borrowings is not the subject of a Benchmark Transition Event or (B) an ABR Borrowing if the  Adjusted Daily Simple RFR for Dollar Borrowings is the subject of a Benchmark Transition  Event or (y) any Term Benchmark Borrowing or RFR Borrowing denominated in an Alternative  Currency shall be ineffective.  During any Benchmark Unavailability Period or at any time that  a tenor for the then-current Benchmark is not an Available Tenor, the component of ABR based  upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be  used in any determination of ABR.  Furthermore, if any Term Benchmark Loan or RFR Loan in  

 

   69  #153723541_v10  any Agreed Currency is outstanding on the date of the Borrower’s receipt of notice of the  commencement of a Benchmark Unavailability Period with respect to a Relevant Rate applicable  to such Term Benchmark Loan or RFR Loan, then until such time as a Benchmark Replacement  for such Agreed Currency is implemented pursuant to this Section 2.14, (A) for Loans  denominated in Dollars any Term Benchmark Loan shall on the last day of the Interest Period  applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day),  be converted by the Administrative Agent to, and shall constitute, (x) an RFR Borrowing  denominated in Dollars so long as the Adjusted Daily Simple RFR for Dollar Borrowings is not  the subject of a Benchmark Transition Event or (y) an ABR Loan if the Adjusted Daily Simple  RFR for Dollar Borrowings is the subject of a Benchmark Transition Event, on such day and (B)  for Loans denominated in an Alternative Currency, (1) any Term Benchmark Loan shall, on the  last day of the Interest Period applicable to such Loan (or the next succeeding Business Day if  such day is not a Business Day) bear interest at the Central Bank Rate (or in the case of Yen, the  Japanese Prime Rate) for the applicable Alternative Currency plus the CBR Spread; provided  that, if the Administrative Agent determines (which determination shall be conclusive and  binding absent manifest error) that the Central Bank Rate (or in the case of Yen, the Japanese  Prime Rate) for the applicable Alternative Currency cannot be determined, any outstanding  affected Term Benchmark Loans denominated in any Alternative Currency shall, at the  Borrower’s election prior to such day: (A) be prepaid by the Borrower on such day or (B) solely  for the purpose of calculating the interest rate applicable to such Term Benchmark Loan, such  Term Benchmark Loan denominated in any Alternative Currency shall be deemed to be a Term  Benchmark Loan denominated in Dollars and shall accrue interest at the same interest rate  applicable to Term Benchmark Loans denominated in Dollars at such time and (2) any RFR  Loan shall bear interest at the Central Bank Rate (or in the case of Yen, the Japanese Prime Rate)   for the applicable Alternative Currency plus the CBR Spread; provided that, if the Administrative  Agent determines (which determination shall be conclusive and binding absent manifest error)  that the Central Bank Rate (or in the case of Yen, the Japanese Prime Rate)  for the applicable  Alternative Currency cannot be determined, any outstanding affected RFR Loans denominated  in any Alternative Currency, at the Borrower’s election, shall either (A) be converted into ABR  Loans denominated in Dollars (in an amount equal to the Dollar Equivalent of such Alternative  Currency) immediately or (B) be prepaid in full immediately.  SECTION 2.15 Increased Costs.  (a) If any Change in Law shall:  (i) impose, modify or deem applicable any reserve, special deposit, liquidity or  similar requirement (including any compulsory loan requirement, insurance charge or other  assessment) 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 Term SOFR  Rate, Adjusted EURIBOR Rate or Adjusted TIBOR Rate, as applicable) or Issuing Bank;  (ii) impose on any Lender or Issuing Bank or the applicable offshore interbank  market for the applicable Agreed Currency any other condition, cost or expense (other than  Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or  participation therein; or  

 

   70  #153723541_v10  (iii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B)  Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C)  Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or  other obligations, or its deposits, reserves, other liabilities or capital attributable thereto;  and the result of any of the foregoing shall be to increase the cost to such Lender or such other  Recipient of making, continuing, converting into or maintaining any Loan (or of maintaining its  obligation to make any such Loan) or to increase the cost to such Lender, the Issuing Bank or such  other Recipient of participating in, issuing or maintaining any Letter of Credit or to reduce the  amount of any sum received or receivable by such Lender, the Issuing Bank or such other Recipient  hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender,  the Issuing Bank or such other Recipient, as the case may be, such additional amount or amounts  as will compensate such Lender, the Issuing Bank or such other Recipient, 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 or liquidity requirements has or would have the effect of reducing the rate of  return on such Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s or the  Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Commitments  of or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such  Lender, or the Letters of Credit issued by the 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 and liquidity), 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 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.  

 

   71  #153723541_v10  SECTION 2.16 Break Funding Payments.  (a) With respect to Loans that are not  RFR Loans, in the event of (i) the payment of any principal of any Term Benchmark Loan other  than on the last day of an Interest Period applicable thereto (including as a result of an Event of  Default or an optional or mandatory prepayment of Loans), (ii) the conversion of any Term  Benchmark Loan other than on the last day of the Interest Period applicable thereto, (iii) the failure  to borrow, convert, continue or prepay any Term Benchmark Loan on the date specified in any  notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section  2.11(b) and is revoked in accordance therewith), (iv) the assignment of any Term Benchmark 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 or (v) the failure by the Borrower to make any payment of any  Loan or drawing under any Letter of Credit (or interest due thereof) denominated in an Alternative  Currency on its scheduled due date or any payment thereof in a different currency, then, in any  such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable  to such event.  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 10 days after receipt thereof.      (b) With respect to RFR Loans, in the event of (i) the payment of any principal  of any RFR Loan other than on the Interest Payment Date applicable thereto (including as a result  of an Event of Default or an optional or mandatory prepayment of Loans), (ii) the failure to borrow  or prepay any RFR Loan on the date specified in any notice delivered pursuant hereto (regardless  of whether such notice may be revoked under Section 2.11(b) and is revoked in accordance  therewith), (iii) the assignment of any RFR Loan other than on the Interest Payment Date  applicable thereto as a result of a request by the Borrower pursuant to Section 2.19 or (iv) the  failure by the Borrower to make any payment of any Loan or drawing under any Letter of Credit  (or interest due thereof) denominated in an Alternative Currency on its scheduled due date or any  payment thereof in a different currency, then, in any such event, the Borrower shall compensate  each Lender for the loss, cost and expense attributable to such event.  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 10 days after receipt  thereof.  SECTION 2.17 Taxes.  (a) Withholding Taxes; Gross-Up; Payments Free of Taxes.  Any and all payments by  or on account of any obligation of any Loan Party under any Loan Document shall be made  without deduction or withholding for any Taxes, except as required by applicable law.  If any  applicable law (as determined in the good faith discretion of an applicable withholding agent)  requires the deduction or withholding of any Tax from any such payment by a withholding agent,  then the applicable withholding agent shall be entitled to make such deduction or withholding  and shall timely pay the full amount deducted or withheld to the relevant Governmental  Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the  sum payable by the applicable Loan Party shall be increased as necessary so that after such  deduction or withholding has been made (including such deductions and withholdings applicable  

 

   72  #153723541_v10  to additional sums payable under this Section 2.17), the applicable Recipient receives an amount  equal to the sum it would have received had no such deduction or withholding been made.  (b) Payment of Other Taxes by Loan Parties.  The Loan Parties shall timely pay to the  relevant Governmental Authority in accordance with applicable law, or at the option of the  Administrative Agent timely reimburse it for, Other Taxes.  (c) Evidence of Payment.  As soon as practicable after any payment of Taxes by any  Loan Party to a Governmental Authority pursuant to this Section 2.17, 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 Loan Parties.  The Loan Parties shall jointly and severally  indemnify each Recipient, within ten (10) days after demand therefor, for the full amount of any  Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to  amounts payable under this Section) payable or paid by such Recipient or required to be withheld  or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or  with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed  or asserted by the relevant Governmental Authority.  A certificate as to the amount of such  payment or liability delivered to any Loan Party by a Lender (with a copy to the Administrative  Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be  conclusive absent manifest error.  (e) Indemnification by the Lenders.  Each Lender shall severally indemnify the  Administrative Agent, within ten (10) days after demand therefor, for (i) any Indemnified Taxes  attributable to such Lender (but only to the extent that any Loan Party has not already  indemnified the Administrative Agent for such Indemnified Taxes and without limiting the  obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender’s failure to  comply with the provisions of Section 9.04(c) relating to the maintenance of a Participant  Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable  or paid by the Administrative Agent in connection with any Loan Document, and any reasonable  expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or  legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the  amount of such payment or liability delivered to any Lender by the Administrative Agent shall  be conclusive absent manifest error.  Each Lender hereby authorizes the Administrative Agent  to set off and apply any and all amounts at any time owing to such Lender under any Loan  Document or otherwise payable by the Administrative Agent to such Lender from any other  source against any amount due to the Administrative Agent under this paragraph (e).  (f) Status of Lenders.  (i) Any Lender that is entitled to an exemption from or reduction of  withholding Tax with respect to payments made under any Loan Document shall deliver to the  Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower  or the Administrative Agent, such properly completed and executed documentation reasonably  requested by the Borrower or the Administrative Agent as will permit such payments to be made  

 

   73  #153723541_v10  without withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably  requested by the Borrower or the Administrative Agent, shall deliver such other documentation  prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent  as will enable the Borrower or the Administrative Agent to determine whether or not such Lender  is subject to backup withholding or information reporting requirements.  Notwithstanding anything  to the contrary in the preceding two sentences, the completion, execution and submission of such  documentation (other than such documentation set forth in Section 2.17(f)(ii)(A), (ii)(B) and  (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion,  execution or submission would subject such Lender to any material unreimbursed cost or expense  or would materially prejudice the legal or commercial position of such Lender.  (ii) Without limiting the generality of the foregoing, in the event that the  Borrower is a U.S. Person,  (A) any Lender that is a U.S. Person shall deliver to the Borrower and  the Administrative Agent on or prior to the date on which such Lender becomes a Lender under  this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or  the Administrative Agent), an executed copy of IRS Form W-9 certifying that such Lender is  exempt from U.S. federal backup withholding tax;  (B) any Foreign Lender shall, to the extent it is legally entitled to do so,  deliver to the Borrower and the Administrative Agent (in such number of copies as shall be  requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender  under this Agreement (and from time to time thereafter upon the reasonable request of the  Borrower or the Administrative Agent), whichever of the following is applicable:  (1) in the case of a Foreign Lender claiming the benefits of an  income tax treaty to which the U.S. is a party (x) with respect to payments of interest under any  Loan Document, an executed copy of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable,  establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the  “interest” article of such tax treaty and (y) with respect to any other applicable payments under  any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an  exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits”  or “other income” article of such tax treaty;  (2) in the case of a Foreign Lender claiming that its extension of  credit will generate U.S. effectively connected income, an executed copy of IRS Form W-8ECI;  (3) in the case of a Foreign Lender claiming the benefits of the  exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in  the form of Exhibit C-1 to the effect that such Foreign Lender is not a “bank” within the meaning  of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the  meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in  Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) an executed IRS  Form W-8BEN or IRS Form W-8BEN-E, as applicable; or  

 

   74  #153723541_v10  (4) to the extent a Foreign Lender is not the beneficial owner, an  executed copy of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN  or IRS Form W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially in the  form of Exhibit C-2 or Exhibit C-3, IRS Form W-9, and/or other certification documents from  each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one  or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest  exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in  the form of Exhibit C-4 on behalf of each such direct and indirect partner;  (C) any Foreign Lender shall, to the extent it is legally entitled to do so,  deliver to the Borrower and the Administrative Agent (in such number of copies as shall be  requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender  under this Agreement (and from time to time thereafter upon the reasonable request of the  Borrower or the Administrative Agent), executed copies of any other form prescribed by  applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding  Tax, duly completed, together with such supplementary documentation as may be prescribed by  applicable law to permit the Borrower or the Administrative Agent to determine the withholding  or deduction required to be made; and  (D) if a payment made to a Lender under any Loan Document would be  subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply  with the applicable reporting requirements of FATCA (including those contained in Section  1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the  Administrative Agent at the time or times prescribed by law and at such time or times reasonably  requested by the Borrower or the Administrative Agent such documentation prescribed by  applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such  additional documentation reasonably requested by the Borrower or the Administrative Agent as  may be necessary for the Borrower and the Administrative Agent to comply with their obligations  under FATCA and to determine that such Lender has complied with such Lender’s obligations  under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for  purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the  date of this Agreement.  Each Lender agrees that if any form or certification it previously delivered expires or  becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly  notify the Borrower and the Administrative Agent in writing of its legal inability to do so.  (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 by the payment of additional amounts  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 2.17 with respect  to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of  such indemnified party and without interest (other than any interest paid by the relevant  Governmental Authority with respect to such refund).  Such indemnifying party, upon the  request of such indemnified party, shall repay to such indemnified party the amount paid over  pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the  

 

   75  #153723541_v10  relevant Governmental Authority) in the event that such indemnified party is required to repay  such refund to such Governmental Authority.  Notwithstanding anything to the contrary in this  paragraph (g), in no event will the indemnified party be required to pay any amount to an  indemnifying party pursuant to this paragraph (g) the payment of which would place the  indemnified party in a less favorable net after-Tax position than the indemnified party would  have been in if the Tax subject to indemnification and giving rise to such refund had not been  deducted, withheld or otherwise imposed and the indemnification payments or additional  amounts giving rise to such refund had never been paid.  This paragraph (g) shall not be  construed to require any indemnified party to make available its Tax returns (or any other  information relating to its Taxes that it deems confidential) to the indemnifying party or any  other Person.  (h) Survival.  Each party’s obligations under this Section 2.17 shall survive the  resignation or replacement of the Administrative Agent or any assignment of rights by, or the  replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction  or discharge of all obligations under any Loan Document (including the Payment in Full of the  Secured Obligations).  (i) Defined Terms.  For purposes of this Section 2.17, the term “Lender” includes any  Issuing Bank and the term “applicable law” includes FATCA.  SECTION 2.18 Payments Generally; Allocation of Proceeds; Sharing of Set-offs.  (a) (i) Except with respect to principal of and interest on Loans denominated in an  Alternative Currency, the Borrower shall make each payment or prepayment required to be made  by it hereunder (whether of principal, interest, fees or reimbursement of LC Disbursements, or  of amounts payable under Sections 2.15, 2.16 or 2.17, or otherwise) in Dollars prior to 3:00 p.m.,  New York City time, on the date when due or the date fixed for any prepayment hereunder and  (ii) all payments with respect to principal and interest on Loans denominated in an Alternative  Currency shall be made in such Alternative Currency not later than the Applicable Time  specified by the Administrative Agent on the dates specified herein, in each case, in immediately  available funds, without setoff, recoupment 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 383 Madison Avenue,  New York, New York, except payments to be made directly to Issuing Bank or Swingline  Lenders 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 received by it for the account of any other Person to the  appropriate recipient promptly following receipt thereof.  If any payment hereunder shall be due  on a day that is not a Business Day, the date for payment shall be extended to the next succeeding  Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable  for the period of such extension.  If, for any reason, the Borrower is prohibited by any Law from  making any required payment hereunder in an Alternative Currency, such Borrower shall make  such payment in Dollars in the Dollar Equivalent of the Alternative Currency payment amount.   

 

   76  #153723541_v10  (b) Any proceeds of Collateral or any payment by or on behalf of any Loan Party  received by the Administrative Agent (i) not constituting either (A) a specific payment of  principal, interest, fees or other sum payable under the Loan Documents (which shall be applied  as specified by the Borrower), or (B) a mandatory prepayment (which shall be applied in  accordance with Section 2.11) or (ii) after an Event of Default has occurred and is continuing  and the Administrative Agent so elects or the Required Lenders so direct, shall be applied ratably  first, to pay any fees, indemnities, or expense reimbursements then due to the Administrative  Agent, the Swingline Lender and the Issuing Bank from the Borrower (other than in connection  with Banking Services Obligations or Swap Agreement Obligations), second, to pay any fees,  indemnities, or expense reimbursements then due to the Lenders from the Borrower (other than  in connection with Banking Services Obligations or Swap Agreement Obligations), third, to pay  interest then due and payable on the Loans ratably, fourth, to prepay principal on the Loans and  unreimbursed LC Disbursements and to pay any amounts owing in respect of Swap Agreement  Obligations and Banking Services Obligations up to and including the amount most recently  provided to the Administrative Agent pursuant to Section 2.22, ratably (with amounts allocated  to the Term Loans of any Class applied to reduce the subsequent scheduled repayments of the  Term Loans of such Class to be made pursuant to Section 2.10 ratably based on the amount of  such scheduled repayments), fifth, to pay an amount to the Administrative Agent equal to one  hundred three percent (103%) of the aggregate LC Exposure, to be held as cash collateral for  such Obligations, and sixth, to the payment of any other Secured Obligation due to the  Administrative Agent or any Lender from the Borrower or any other Loan Party.  Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the  Borrower, or unless an Event of Default is in existence, neither the Administrative Agent nor  any Lender shall apply any payment which it receives to any Benchmark Term Loan of a Class,  except (i) on the expiration date of the Interest Period applicable thereto, or (ii) in the event, and  only to the extent, that there are no outstanding ABR Loans of the same Class and, in any such  event, the Borrower shall pay the break funding payment required in accordance with Section  2.16. 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  Secured Obligations.  Notwithstanding the foregoing, Secured Obligations arising under Banking Services  Obligations or Swap Agreement Obligations shall be excluded from the application described  above and paid in clause sixth if the Administrative Agent has not received written notice thereof,  together with such supporting documentation as the Administrative Agent may have reasonably  requested from the applicable provider of such Banking Services or Swap Agreements.  (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, costs 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 2.05 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),  

 

   77  #153723541_v10  and that all such Borrowings shall be deemed to have been requested pursuant to Sections 2.03  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, except as otherwise expressly provided herein, 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 Loans or participations in LC Disbursements resulting in such Lender  receiving payment of a greater proportion of the aggregate amount of its Loans and participations  in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion  received by any other similarly situated Lender, then the Lender receiving such greater  proportion shall purchase (for cash at face value) participations in the 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 all such Lenders ratably in accordance with the  aggregate amount of principal of and accrued interest on their respective Loans and  participations in LC Disbursements and Swingline Loans; 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 or sale of a participation in any of its Loans or participations in LC Disbursements  or 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 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.  (f) If any Lender shall fail to make any payment required to be made by it hereunder,  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 to satisfy such Lender’s obligations hereunder until all such unsatisfied  obligations are fully paid and/or (ii) hold any such amounts in a segregated account as cash  

 

   78  #153723541_v10  collateral for, and application to, any future funding obligations of such Lender hereunder.   Application of amounts pursuant to (i) and (ii) above shall be made in such order as may be  determined by the Administrative Agent in its discretion.  (g) The Administrative Agent may from time to time provide the Borrower with  account statements or invoices with respect to any of the Secured Obligations (the “Statements”).   The Administrative Agent is under no duty or obligation to provide Statements, which, if  provided, will be solely for the Borrower’s convenience.  Statements may contain estimates of  the amounts owed during the relevant billing period, whether of principal, interest, fees or other  Secured Obligations.  If the Borrower pays the full amount indicated on a Statement on or before  the due date indicated on such Statement, the Borrower shall not be in default of payment with  respect to the billing period indicated on such Statement; provided, that acceptance by the  Administrative Agent, on behalf of the Lenders, of any payment that is less than the total amount  actually due at that time (including but not limited to any past due amounts) shall not constitute  a waiver of the Administrative Agent’s or the Lenders’ right to receive payment in full at another  time.  SECTION 2.19 Mitigation Obligations; Replacement of Lenders.  (a) If any Lender requests compensation under Section 2.15, or if the Borrower is  required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental  Authority for the account of any Lender pursuant to Section 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 Sections 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 any Lender requests compensation under Section 2.15, or if the Borrower is  required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental  Authority for the account of any Lender) pursuant to Section 2.17, or if 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), all its  interests, rights (other than its existing rights to payments pursuant to Sections 2.15 or 2.17) and  obligations under this Agreement and other Loan Documents to an assignee that shall assume  such obligations (which assignee may be another Lender, if a Lender accepts such assignment);  provided that (i) the Borrower shall have received the prior written consent of the Administrative  Agent (and in circumstances where its consent would be required under Section 9.04, the Issuing  Bank and the Swingline Lender), which consent shall not unreasonably be withheld, (ii) such  Lender shall have received payment of an amount equal to the outstanding principal of its Loans  and funded 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  

 

   79  #153723541_v10  amounts) and (iii) 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. Each party hereto agrees that (i) an assignment required pursuant to this paragraph  may be effected pursuant to an Assignment and Assumption executed by the Borrower, the  Administrative Agent and the assignee (or, to the extent applicable, an agreement incorporating  an Assignment and Assumption by reference pursuant to an Approved Electronic Platform as to  which the Administrative Agent and such parties are participants), and (ii) the Lender required  to make such assignment need not be a party thereto in order for such assignment to be effective  and shall be deemed to have consented to and be bound by the terms thereof; provided that,  following the effectiveness of any such assignment, the other parties to such assignment agree  to execute and deliver such documents necessary to evidence such assignment as reasonably  requested by the applicable Lender, provided that any such documents shall be without recourse  to or warranty by the parties thereto.  SECTION 2.20 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) any payment of principal, interest, fees or other amounts received by the  Administrative Agent for the account of such Defaulting Lender (whether voluntary or  mandatory, at maturity, pursuant to Section 2.18(b) or otherwise) or received by the  Administrative Agent from a Defaulting Lender pursuant to Section 9.08 shall be applied at such  time or times as may be determined by the Administrative Agent as follows:  first, to the payment  of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder;  second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to  any Issuing Bank or Swingline Lender hereunder; third, to cash collateralize the Issuing Bank’  LC Exposure with respect to such Defaulting Lender in accordance with this Section; fourth, as  the Borrower may request (so long as no Default or Event of Default exists), to the funding of  any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as  required by this Agreement, as determined by the Administrative Agent; fifth, if so determined  by the Administrative Agent and the Borrower, to be held in a deposit account and released pro  rata in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with  respect to Loans under this Agreement and (y) cash collateralize the Issuing Bank’ future LC  Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued  under this Agreement, in accordance with this Section; sixth, to the payment of any amounts  owing to the Lenders, the Issuing Bank or Swingline Lender as a result of any judgment of a  court of competent jurisdiction obtained by any Lender, the Issuing Bank or Swingline Lender  against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations  under this Agreement or under any other Loan Document; seventh, so long as no Default or  

 

   80  #153723541_v10  Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any  judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting  Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement or  under any other Loan Document; and eighth, to such Defaulting Lender or as otherwise directed  by a court of competent jurisdiction; provided that if (x) such payment is a payment of the  principal amount of any Loans or LC Disbursements in respect of which such Defaulting Lender  has not fully funded its appropriate share, and (y) such Loans were made or the related Letters  of Credit were issued at a time when the conditions set forth in Section 4.02 were satisfied or  waived, such payment shall be applied solely to pay the Loans of, and LC Disbursements owed  to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any  Loans of, or LC Disbursements owed to, such Defaulting Lender until such time as all Loans  and funded and unfunded participations in the Borrower’s obligations corresponding to such  Defaulting Lender’s LC Exposure and Swingline Loans are held by the Lenders pro rata in  accordance with the Commitments without giving effect to clause (d) below.  Any payments,  prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held)  to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this Section  shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably  consents hereto;  (c) such Defaulting Lender shall not have the right to vote on any issue on which voting  is required (other than to the extent expressly provided in Section 9.02(b)) and the Commitment  and Revolving Exposure and, if applicable, Term Commitment and Term Loans of such  Defaulting Lender shall not be included in determining whether the Required Lenders have taken  or may take any action hereunder or under any other Loan Document; provided that, except as  otherwise provided in Section 9.02, this clause (c) shall not apply to the vote of a Defaulting  Lender in the case of an amendment, waiver or other modification requiring the consent of such  Lender or each Lender directly affected thereby;  (d) 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 (other than the portion of such Swingline Exposure referred to in clause (b) of  the definition of such term) shall be reallocated among the non-Defaulting Lenders in accordance  with their respective Applicable Percentages but only to the extent that such reallocation does not,  as to any non-Defaulting Lender, cause such non-Defaulting Lender’s Revolving Exposure to  exceed its Revolving Commitment;  (ii) if the reallocation described in clause (i) above cannot, or can only partially,  be effected, the Borrower shall within one (1) Business Day following notice by the Administrative  Agent (x) first, prepay such Swingline Exposure and (y) second, cash collateralize, for the benefit  of the Issuing Bank, 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  

 

   81  #153723541_v10  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 Sections 2.12(a) and 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  (e) 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,  renew, extend or increase any Letter of Credit, unless it is satisfied that the related exposure and  such 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 2.20(d), and Swingline Exposure related to any such newly  made Swingline Loan or LC Exposure related to any newly issued or increased Letter of Credit  shall be allocated among non-Defaulting Lenders in a manner consistent with Section 2.20(d)(i)  (and such Defaulting Lender shall not participate therein).  If (i) a Bankruptcy Event or a Bail-In Action with respect to the 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 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 each of the Administrative Agent, the Borrower, the Swingline Lender  and the Issuing Bank 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 Revolving Commitment  and on the date of such readjustment 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.  SECTION 2.21 Returned Payments.  If, after receipt of any payment which is  applied to the payment of all or any part of the Obligations (including a payment effected through  exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled  to surrender such payment or proceeds to any Person because such payment or application of  

 

   82  #153723541_v10  proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a  preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including  pursuant to any settlement entered into by the Administrative Agent or such Lender in its  discretion), then the Obligations or part thereof intended to be satisfied shall be revived and  continued and this Agreement shall continue in full force as if such payment or proceeds had not  been received by the Administrative Agent or such Lender.  The provisions of this Section 2.21  shall be and remain effective notwithstanding any contrary action which may have been taken by  the Administrative Agent or any Lender in reliance upon such payment or application of proceeds.   The provisions of this Section 2.21 shall survive the termination of this Agreement.  SECTION 2.22 Banking Services and Swap Agreements.  Each Lender or Affiliate  thereof providing Banking Services for, or having Swap Agreements with, any Loan Party or any  Subsidiary or Affiliate of a Loan Party shall deliver to the Administrative Agent, promptly after  entering into such Banking Services or Swap Agreements, written notice setting forth the  aggregate amount of all Banking Services Obligations and Swap Agreement Obligations of such  Loan Party or Subsidiary or Affiliate thereof  to such Lender or Affiliate (whether matured or  unmatured, absolute or contingent).  In furtherance of that requirement, each such Lender or  Affiliate thereof shall furnish the Administrative Agent, from time to time after a significant  change therein or upon a request therefor, a summary of the amounts due or to become due in  respect of such Banking Services Obligations and Swap Agreement Obligations.  The most recent  information provided to the Administrative Agent shall be used in determining which tier of the  waterfall, contained in Section 2.18(b), such Banking Services Obligations and/or Swap  Agreement Obligations will be placed.  ARTICLE III  Representations and Warranties  Each Loan Party represents and warrants to the Lenders that (and where applicable,  agrees):  SECTION 3.01 Organization; Powers.  Each Loan Party and each 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.  SECTION 3.02 Authorization; Enforceability.  The Transactions are within each  Loan Party’s organizational powers and have been duly authorized by all necessary organizational  actions and, if required, actions by equity holders.  Each Loan Document to which each Loan Party  is a party has been duly executed and delivered by such Loan Party and constitutes a legal, valid  and binding obligation of such Loan Party, 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.  

 

   83  #153723541_v10  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, any  Governmental Authority, except such as have been obtained or made and are in full force and  effect and except for filings necessary to perfect Liens created pursuant to the Loan Documents,  (b) will not violate any Requirement of Law applicable to any Loan Party or any Subsidiary, (c)  will not violate or result in a default under any indenture, agreement or other instrument binding  upon any Loan Party or any Subsidiary or the assets of any Loan Party or any Subsidiary, or give  rise to a right thereunder to require any payment to be made by any Loan Party or any Subsidiary,  except to the extent such violation could not reasonably be expected to result in a Material Adverse  Effect, and (d) will not result in the creation or imposition of any Lien on any asset of any Loan  Party or any Subsidiary, except Liens created pursuant to the Loan Documents.  SECTION 3.04 Financial Condition; No Material Adverse Change.  (a) The Borrower has heretofore furnished to the Lenders its consolidated balance sheet  and statements of income, stockholders equity and cash flows as of and for the fiscal year ended  June 30, 2019 reported on by BDO USA LLP, independent public accountants.  Such financial  statements present fairly, in all material respects, the financial position and results of operations  and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such  periods in accordance with GAAP, subject to normal year-end audit adjustments all of which,  when taken as a whole, would not be materially adverse.  (b) No event, change or condition has occurred that has had, or could reasonably be  expected to have, a Material Adverse Effect, since June 30, 2019.  SECTION 3.05 Properties.  (a) As of the date of this Agreement, Schedule 3.05 sets forth the address of each parcel  of real property that is owned or leased by any Loan Party.  Each of such leases and subleases is  valid and enforceable in accordance with its terms and is in full force and effect, and no default  by any party to any such lease or sublease exists.  Each of the Loan Parties and each Subsidiary  has good and indefeasible title to, or valid leasehold interests in, all of its real and personal  property, free of all Liens other than those permitted by Section 6.02.  (b) Each Loan Party and each Subsidiary owns, or is licensed to use, all trademarks,  tradenames, copyrights, patents and other intellectual property necessary to its business as  currently conducted, a correct and complete list of which, as of the date of this Agreement, is set  forth on Schedule 3.05, and the use thereof by each Loan Party and each Subsidiary does not  infringe in any material respect upon the rights of any other Person, and each Loan Party’s and  each Subsidiary’s rights thereto are not subject to any licensing agreement or similar  arrangement.  SECTION 3.06 Litigation and Environmental Matters.  (a) There are no actions, suits or proceedings by or before any arbitrator or  Governmental Authority pending against or, to the knowledge of any Loan Party, threatened  against or affecting any Loan Party or any Subsidiary (i) as to which there is a reasonable  possibility of an adverse determination and that, if adversely determined, could reasonably be  

 

   84  #153723541_v10  expected, individually or in the aggregate, to result in a Material Adverse Effect (other than the  Disclosed Matters set forth on Schedule 3.06) or (ii) that involve any Loan Document or the  Transactions.    (b) Except for the Disclosed Matters, (i) no Loan Party or any Subsidiary has received  notice of any claim with respect to any Environmental Liability or knows of any basis for any  Environmental Liability which, in either case, could reasonably be expected, individually or in  the aggregate, to result in a Material Adverse Effect and (ii) except with respect to any other  matters that, individually or in the aggregate, could not reasonably be expected to result in a  Material Adverse Effect, no Loan Party or any  Subsidiary (A) 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 (B) has become subject to any Environmental Liability,  (C) has received notice of any claim with respect to any Environmental Liability or (D) knows  of any basis for any Environmental Liability.  (c) Since the date of this Agreement, there has been no change in the status of the  Disclosed Matters that, individually or in the aggregate, has resulted in, or materially increased  the likelihood of, a Material Adverse Effect.  SECTION 3.07 Compliance with Laws and Agreements; No Default.  Except where  the failure to do so, individually or in the aggregate, could not reasonably be expected to result in  a Material Adverse Effect, each Loan Party and each Subsidiary is in compliance with (a) all  Requirements of Law applicable to it or its property and (b) all indentures, agreements and other  instruments binding upon it or its property.  No Default or Event of Default has occurred and is  continuing.  SECTION 3.08 Investment Company Status.  No Loan Party or any Subsidiary is an  “investment company” as defined in, or subject to regulation under, the Investment Company Act  of 1940.  SECTION 3.09 Taxes.  Except as set forth in Schedule 3.09, each Loan Party and  each Subsidiary has timely filed or caused to be filed all federal, state income and other material  state and material local tax returns and reports (or timely extensions therefor) required to have  been filed and has paid or caused to be paid all federal, material state and material local Taxes  required to have been paid by it, except Taxes that are being contested in good faith by appropriate  proceedings and for which such Loan Party or such Subsidiary, as applicable, has set aside on its  books adequate reserves.  No material Tax liens have been filed and no claims have been asserted  with respect to any such material Taxes.  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, could reasonably be expected to result in a Material Adverse Effect.  The present  value of all accumulated benefit obligations under each Plan (based on the assumptions used for  purposes of Accounting Standards Codification No. 715 or subsequent recodification thereof, as  applicable) did not, as of the date of the most recent financial statements reflecting such amounts,  exceed the fair market value of the assets of such Plan.   

 

   85  #153723541_v10  SECTION 3.11 Disclosure.    (a) The Loan Parties have disclosed to the Lenders all agreements, instruments and  corporate or other restrictions to which any Loan Party or any Subsidiary is subject, and all other  matters known to it, that, individually or in the aggregate, could reasonably be expected to result  in a Material Adverse Effect.  None of the reports, financial statements, certificates or other  information furnished by or on behalf of any Loan Party or any Subsidiary to the Administrative  Agent or any Lender in connection with the negotiation of this Agreement or any other Loan  Document (as modified or supplemented by other information so furnished) contains any  material misstatement of fact or omits to state any material fact necessary to make the statements  therein, in the light of the circumstances under which they were made, not misleading; provided  that, with respect to projected financial information, the Loan Parties represent only that such  information was prepared in good faith based upon assumptions believed to be reasonable at the  time delivered and, if such projected financial information was delivered prior to the Effective  Date, as of the Effective Date.  (b) As of the Effective Date, to the best knowledge of the Borrower, the information  included in the Beneficial Ownership Certification provided on or prior to the Effective Date to  any Lender in connection with this Agreement is true and correct in all respects.  SECTION 3.12 Material Agreements.  All material agreements and contracts to  which any Loan Party or any Subsidiary is a party or is bound as of the date of this Agreement are  listed on Schedule 3.12.  No Loan Party or any Subsidiary is in default in the performance,  observance or fulfillment of any of the obligations, covenants or conditions contained in (i) any  material agreement to which it is a party or (ii) any agreement or instrument evidencing or  governing Indebtedness, except, in either case, where such default could not reasonably be  expected to result in a Material Adverse Effect.  SECTION 3.13 Solvency.  (a) Immediately after the consummation of the Transactions to occur on the Effective  Date, (i) the fair value of the assets of the Loan Parties, taken as a whole, at a fair valuation, will  exceed their debts and liabilities, subordinated, contingent or otherwise, taken as a whole; (ii)  the present fair saleable value of the property of the Loan Parties, taken as a whole, will be  greater than the amount that will be required to pay the probable liability of their debts and other  liabilities, subordinated, contingent or otherwise, taken as a whole, as such debts and other  liabilities become absolute and matured; (iii) the Loan Parties, taken as a whole, will be able to  pay their debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities  become absolute and matured, taken as a whole; and (iv) the Loan Parties will not have  unreasonably small capital, taken as a whole, with which to conduct the business in which they  are engaged as such business is now conducted and is proposed to be conducted after the  Effective Date.  (b) Loan Parties do not intend to and the Loan Parties do not believe that the Loan  Parties and their Subsidiaries, taken as a whole, will, incur debts beyond their ability, taken as a  whole, to pay such debts as they mature, taking into account the timing of and amounts of cash  

 

   86  #153723541_v10  to be received by any Loan Party or any such Subsidiary and the timing of the amounts of cash  to be payable on or in respect of their Indebtedness or the Indebtedness of any such Subsidiary.  SECTION 3.14 Insurance.  Schedule 3.14 sets forth a description of all insurance  maintained by or on behalf of the Loan Parties and their Subsidiaries as of the Effective Date.  As  of the Effective Date, all premiums in respect of such insurance have been paid.  The Loan Parties  believe that the insurance maintained by or on behalf of the Loan Parties and their Subsidiaries is  adequate and is customary for companies engaged in the same or similar businesses operating in  the same or similar locations.  SECTION 3.15 Capitalization and Subsidiaries.  Schedule 3.15 sets forth (a) a  correct and complete list of the name and relationship to the Borrower of each Subsidiary, (b) a  true and complete listing of each class of each of Borrower’s Subsidiaries’ authorized Equity  Interests, of which all of such issued Equity Interests are validly issued, outstanding, fully paid  and non-assessable (to the extent such concepts are relevant with respect to such ownership  interests), and owned beneficially and of record by the Persons identified on Schedule 3.15, and  (c) the type of entity of the Borrower and each Subsidiary.  All of the issued and outstanding Equity  Interests owned by any Loan Party have been (to the extent such concepts are relevant with respect  to such ownership interests) duly authorized and issued and are fully paid and non-assessable.  SECTION 3.16 Security Interest in Collateral.  The provisions of this Agreement  and the other Loan Documents create legal and valid Liens on all the Collateral in favor of the  Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected  and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the  applicable Loan Party and all third parties, and having priority over all other Liens on the Collateral  except in the case of (a) Permitted Encumbrances, to the extent any such Permitted Encumbrances  would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable  law and (b) Liens perfected only by possession (including possession of any certificate of title), to  the extent the Administrative Agent has not obtained or does not maintain possession of such  Collateral.  SECTION 3.17 Employment Matters.  As of the Effective Date, there are no strikes,  lockouts or slowdowns against any Loan Party or any Subsidiary pending or, to the knowledge of  any Loan Party, threatened. The hours worked by and payments made to employees of the Loan  Parties and their 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.  All payments due  from any Loan Party or any Subsidiary, or for which any claim may be made against any Loan  Party or any Subsidiary, 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 Loan Party or such  Subsidiary.  SECTION 3.18 Federal Reserve Regulations.  No part of the proceeds of any Loan  or Letter of Credit has 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 3.19 Use of Proceeds.  The proceeds of the Loans have been used and  will be used, whether directly or indirectly as set forth in Section 5.08.  

 

   87  #153723541_v10  SECTION 3.20 No Burdensome Restrictions.  No Loan Party is subject to any  Burdensome Restrictions except Burdensome Restrictions permitted under Section 6.10.  SECTION 3.21 Anti-Corruption Laws and Sanctions.  Each Loan Party has  implemented and maintains in effect policies and procedures designed to ensure compliance by  such Loan Party, its Subsidiaries and their respective directors, officers, employees and agents  with Anti-Corruption Laws and applicable Sanctions, and such Loan Party, its Subsidiaries and  their respective officers and directors and, to the knowledge of such Loan Party, its employees and  agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material  respects.  None of (a) any Loan Party, any Subsidiary or any of their respective directors, officers  or employees, or (b) to the knowledge of any such Loan Party or Subsidiary, any agent of such  Loan Party or any Subsidiary that will act in any capacity in connection with or benefit from the  credit facility established hereby, is a Sanctioned Person.  No Borrowing or Letter of Credit, use  of proceeds, Transaction or other transaction contemplated by this Agreement or the other Loan  Documents will violate Anti-Corruption Laws or applicable Sanctions.  SECTION 3.22 EEA Financial Institutions.  No Loan Party is an EEA Financial  Institution.  SECTION 3.23. Plan Assets; Prohibited Transactions. None of the Loan Parties or any of  their Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset  Regulations), and neither the execution, delivery nor performance of the transactions contemplated  under this Agreement, including the making of any Loan and the issuance of any Letter of Credit  hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or  Section 4975 of the Code.  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) Credit Agreement and Loan Documents.  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 fax or other 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 certificates, documents, instruments and agreements as the  Administrative Agent shall reasonably request in connection with the transactions contemplated  by this Agreement and the other Loan Documents, including any promissory notes requested by  a Lender pursuant to Section 2.10 payable to the order of each such requesting Lender.  (b) Opinions of Counsel. Favorable written legal opinion of King & Spalding and  applicable local counsel in the jurisdictions of organization of the Loan Parties addressed to the  Administrative Agent and each of the Lenders, and covering such customary matters relating to  

 

   88  #153723541_v10  the Loan Parties, the Loan Documents and the transactions contemplated therein as the  Administrative Agent shall reasonably request.  (c) Secretary Certificates; Certified Certificate of Incorporation; Good Standing  Certificates.  The Administrative Agent shall have received (i) a certificate of each Loan Party,  dated the Effective Date and executed by its Secretary or Assistant Secretary, which shall (A)  certify the resolutions of its Board of Directors, members or other body authorizing the  execution, delivery and performance of the Loan Documents to which it is a party, (B) identify  by name and title and bear the signatures of the officers of such Loan Party authorized to sign  the Loan Documents to which it is a party and, in the case of the Borrower, its Financial Officers,  and (C) contain appropriate attachments, including the charter, articles or certificate of  organization or incorporation of each Loan Party certified by the relevant authority of the  jurisdiction of organization of such Loan Party and a true and correct copy of its bylaws or  operating, management or partnership agreement, or other organizational or governing  documents, and (ii) a long form good standing certificate for each Loan Party from its jurisdiction  of organization.  (d) Closing Certificate.  The Administrative Agent shall have received a certificate,  signed by the chief financial officer of the Borrower and each other Loan Party, dated as of the  Effective Date, after giving effect to the initial Loans, and the other Transactions hereunder, (i)  stating that no Default has occurred and is continuing, (ii) stating that the representations and  warranties contained in the Loan Documents are true and correct as of such date, and (iii)  certifying as to any other factual matters as may be reasonably requested by the Administrative  Agent.  (e) Approvals.  All governmental and third-party approvals necessary in connection  with the financing contemplated hereby and the other Transactions, if any, and the continuing  operations of the Loan Parties and their Subsidiaries (including shareholder approvals, if any)  shall have been obtained on terms satisfactory to the Administrative Agent and shall be in full  force and effect.  (f) Fees.  The Lenders and the Administrative Agent shall have received all fees  required to be paid, and all expenses required to be reimbursed for which invoices have been  presented (including the reasonable fees and expenses of legal counsel), on or before the  Effective Date.  All such amounts will be paid with proceeds of Loans made on the Effective  Date and will be reflected in the funding instructions given by the Borrower to the Administrative  Agent on or before the Effective Date.  (g) Lien Searches.  The Administrative Agent shall have received the results of a recent  lien search in the jurisdiction of organization of each Loan Party and each jurisdiction where  assets of the Loan Parties are located, and such search shall reveal no Liens on any of the assets  of the Loan Parties except for liens permitted by Section 6.02 or discharged on or prior to the  Effective Date pursuant to a pay-off letter or other documentation satisfactory to the  Administrative Agent.  

 

   89  #153723541_v10  (h) Solvency.  The Administrative Agent shall have received a solvency certificate  signed by a Financial Officer dated the Effective Date in form and substance reasonably  satisfactory to the Administrative Agent.  (i) Pledged Equity Interests; Stock Powers; Pledged Notes.  The Administrative Agent  shall have received (i) the certificates representing the Equity Interests pledged pursuant to the  Security Agreement, together with an undated stock power for each such certificate executed in  blank by a duly authorized officer of the pledgor thereof and (ii) each promissory note (if any)  pledged to the Administrative Agent pursuant to the Security Agreement endorsed (without  recourse) in blank (or accompanied by an executed transfer form in blank) by the pledgor thereof.  (j) Filings, Registrations and Recordings.  Each document (including any Uniform  Commercial Code financing statement) required by the Collateral Documents or under law or  reasonably requested by the Administrative Agent to be filed, registered or recorded in order to  create in favor of the Administrative Agent, for the benefit of the Secured Parties, a perfected  Lien on the Collateral described therein, prior and superior in right to any other Person (other  than with respect to Liens expressly permitted by Section 6.02), shall be in proper form for filing,  registration or recordation.  (k) Due Diligence. The Administrative Agent and its counsel shall have completed all  business and legal due diligence with respect to the Borrower and its Subsidiaries, including,  without limitation, approval of the final corporate structure, approval of the terms of any  agreements with Affiliates, and one or more meetings with the Borrower’s management team,  in each case, the results of which shall be satisfactory to Administrative Agent in its sole  discretion.  (l) USA PATRIOT Act, Etc.  (i) The Administrative Agent shall have received, (x) at  least five (5) days prior to the Effective Date, all documentation and other information regarding  the Borrower requested in connection with applicable “know your customer” and anti-money  laundering rules and regulations, including the USA PATRIOT Act, to the extent requested in  writing of the Borrower at least ten (10) days prior to the Effective Date, and (y) a properly  completed and signed IRS Form W-8 or W-9, as applicable, for each Loan Party, and (ii) to the  extent the Borrower qualify as a “legal entity customer” under the Beneficial Ownership  Regulation, a Beneficial Ownership Certification in relation to the Borrower shall have received  such Beneficial Ownership Certification (provided that, upon the execution and delivery by such  Lender of its signature page to this Agreement, the condition set forth in this clause (ii) shall be  deemed to be satisfied).  (m) Other Documents.  The Administrative Agent shall have received such other  documents as the Administrative Agent, the Issuing Bank, any Lender or their respective counsel  may have reasonably requested.  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:  

 

   90  #153723541_v10  (a) The representations and warranties of the Loan Parties set forth in the Loan  Documents shall be true and correct in all material respects with the same effect as though made  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 (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, and that any representation or warranty  which is subject to any materiality qualifier shall be required to be true and correct in all  respects).  (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.  (c) After giving effect to any Borrowing or the issuance, amendment, renewal or  extension of any Letter of Credit, Availability shall not be less than zero.  Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall  be deemed to constitute a representation and warranty by the Borrower on the date thereof as to  the matters specified in paragraphs (a) and (b) and (c) of this Section.  Notwithstanding the failure to satisfy the conditions precedent set forth in paragraphs (a) or (b) or  (c) of this Section, unless otherwise directed by the Required Lenders, the Administrative Agent  may, but shall have no obligation to, continue to make Loans and the Issuing Bank may, but shall  have no obligation to, issue, amend, renew or extend, or cause to be issued, amended, renewed or  extended, any Letter of Credit for the ratable account and risk of the Lenders from time to time if  the Administrative Agent believes that making such Loans or issuing, amending, renewing or  extending, or causing the issuance, amendment, renewal or extension of, any such Letter of Credit  is in the best interests of the Lenders.  ARTICLE V  Affirmative Covenants  Until all of the Secured Obligations shall have been Paid in Full, each Loan Party  executing this Agreement covenants and agrees, jointly and severally with all of the other Loan  Parties, with the Lenders that:  SECTION 5.01 Financial Statements and Other Information.  The Borrower will  furnish to the Administrative Agent and each Lender, including their Public-Siders:  (a) within ninety (90) days after the end of each fiscal year of the Borrower, its audited  consolidated balance sheet and related statements of operations, stockholders’ equity and cash  flows as of the end of and for such year, setting forth in each case in comparative form the figures  for the previous fiscal year, all reported on by independent public accountants of recognized  national standing acceptable to the Administrative Agent (without a “going concern” or like  qualification, commentary 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  

 

   91  #153723541_v10  material respects the financial condition and results of operations of the Borrower and its  consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied,  accompanied by any management letter prepared by said accountants;  (b) within forty-five (45) days after the end of each fiscal quarter of the Borrower, its  consolidated balance sheet and related statements of operations, stockholders’ equity and cash  flows as of the end of and for such fiscal quarter and the then elapsed portion of such 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  a Financial Officer as presenting fairly in all material respects the financial condition and results  of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in  accordance with GAAP consistently applied, subject to normal year-end audit adjustments and  the absence of footnotes;  (c) concurrently with any delivery of financial statements under clause (a) or (b) above  (collectively or individually, as the context requires, the “Financial Statements”), a certificate  of a Financial Officer in substantially the form of Exhibit D (i) certifying, in the case of the  Financial Statements delivered under clause (b) above, as presenting fairly in all material  respects the financial condition and results of operations of the Borrower and its consolidated  Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to  normal year-end audit adjustments and the absence of footnotes, (ii) certifying, to its knowledge,  as to whether a Default has occurred and, if, to its knowledge, a Default has occurred, specifying  the details thereof and any action taken or proposed to be taken with respect thereto, (iii) setting  forth reasonably detailed calculations demonstrating compliance with Section 6.12, (iv) setting  forth a calculation of the revenues and assets of each Unrestricted Subsidiary and of all  Unrestricted Subsidiaries on a combined basis, and (v) stating whether any change in GAAP or  in the application thereof has occurred since the date of the audited financial statements referred  to in Section 3.04 and, if any such change has occurred, specifying the effect of such change on  the Financial Statements accompanying such certificate;  (d) [Reserved];  (e) as soon as available, but in any event no later than thirty (30) days after the end of  each fiscal year of the Borrower, a copy of the plan and forecast (including a projected  consolidated balance sheet, income statement and cash flow statement) of the Borrower for each  quarter of the upcoming fiscal year (the “Projections”) in form reasonably satisfactory to the  Administrative Agent;  (f) [Reserved];  (g) promptly after the same become publicly available, copies of all periodic and other  reports, proxy statements and other materials filed by any Loan Party or any Subsidiary with the  SEC, or any Governmental Authority succeeding to any or all of the functions of the SEC, or  with any national securities exchange, or distributed by the Borrower to its shareholders  generally, as the case may be;  

 

   92  #153723541_v10  (h) promptly after receipt thereof by the Borrower or any Subsidiary, copies of each  notice or other correspondence received from the SEC (or comparable agency in any applicable  non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by  the SEC or such other agency regarding financial or other operational results of the Borrower or  any Subsidiary thereof;  (i) promptly following any request therefor, (x) such other information regarding the  operations, changes in ownership of Equity Interests, business affairs and financial condition of  any Loan Party or any Subsidiary, or compliance with the terms of this Agreement, as the  Administrative Agent or any Lender may reasonably request and (y) information and  documentation reasonably requested by the Administrative Agent or any Lender for purposes of  compliance with applicable “know your customer” and anti-money laundering rules and  regulations, including the USA PATRIOT Act and the Beneficial Ownership Regulation; and  (j) promptly after any request therefor by the Administrative Agent or any Lender,  copies of (i) any documents described in Section 101(k)(1) of ERISA that the Borrower or any  ERISA Affiliate may request with respect to any Multiemployer Plan and (ii) any notices  described in Section 101(l)(1) of ERISA that the Borrower or any ERISA Affiliate may request  with respect to any Multiemployer Plan; provided that if the Borrower or any ERISA Affiliate  has not requested such documents or notices from the administrator or sponsor of the applicable  Multiemployer Plan, the Borrower or the applicable ERISA Affiliate shall promptly make a  request for such documents and notices from such administrator or sponsor and shall provide  copies of such documents and notices promptly after receipt thereof.  Documents required to be delivered pursuant to Section 5.10(a), (b) or (g) (to the extent any such  documents are included in materials otherwise filed with the SEC) may be delivered electronically  and, if so delivered, shall be deemed to have been delivered on the date (i) on which such materials  are publicly available as posted on the Electronic Data Gathering, Analysis and Retrieval system  (EDGAR) or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or  intranet website, if any, to which each Lender and the Administrative Agent have access (whether  a commercial, third-party website or whether sponsored by the Administrative Agent); provided  that:  (A) upon written request by the Administrative Agent, the Borrower shall deliver paper  copies of such documents to the Administrative Agent or any Lender upon its request to the  Borrower to deliver such paper copies until a written request to cease delivering paper copies is  given by the Administrative Agent or such Lender and (B) the Borrower shall notify the  Administrative Agent and each Lender (by telecopier or electronic mail) of the posting of any such  documents and provide to the Administrative Agent by electronic mail versions (i.e., soft copies)  of such documents.  The Administrative Agent shall have no obligation to request the delivery of  or to maintain paper copies of the documents referred to above, and in any event shall have no  responsibility to monitor compliance by the Borrower with any such request by a Lender for  delivery, and each Lender shall be solely responsible for timely accessing posted documents or  requesting delivery of paper copies of such document to it and maintaining its copies of such  documents.  SECTION 5.02 Notices of Material Events.  The Borrower will furnish to the  Administrative Agent and each Lender prompt (but in any event within any time period that may  be specified below) written notice of the following:  

 

   93  #153723541_v10  (a) the occurrence of any Default;  (b) receipt of any notice of any investigation by a Governmental Authority or any  litigation or proceeding commenced or threatened against any Loan Party or any Subsidiary that  (i) in the good faith estimate of the Borrower could result in damages in excess of $5,000,000,  (ii) alleges criminal misconduct by any Loan Party or any Subsidiary, (v) alleges the material  violation of, or seeks to impose material remedies under, any Environmental Law or related  Requirement of Law, or seeks to impose material Environmental Liability or (vi) asserts liability  on the part of any Loan Party or any Subsidiary in excess of $5,000,000 in respect of any tax,  fee, assessment, or other governmental charge;  (c) the occurrence of any ERISA Event that, alone or together with any other ERISA  Events that have occurred, could reasonably be expected to result in liability of the Loan Parties  and their Subsidiaries in an aggregate amount exceeding $5,000,000;  (d) within two (2) Business Days after the occurrence thereof, any Loan Party entering  into a Swap Agreement or an amendment to a Swap Agreement, together with copies of all  agreements evidencing such Swap Agreement or amendment;   (e) any other development that results in, or could reasonably be expected to result in,  a Material Adverse Effect; and   (f) any change in the information provided in the Beneficial Ownership Certification  delivered to such Lender that would result in a change to the list of beneficial owners identified  in such certification.  Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer  or other executive officer of the Borrower 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 Loan Party will, and will  cause each Subsidiary to, (a) do or cause to be done all things necessary to preserve, renew and  keep in full force and effect its legal existence and the rights, qualifications, licenses, permits,  franchises, governmental authorizations, intellectual property rights, licenses and permits material  to the conduct of its business, and maintain all requisite authority to conduct its business in each  jurisdiction in which its business is conducted, except where the failure to do so could not be  reasonably expected to result in a Material Adverse Exchange; provided that the foregoing shall  not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03 and  (b) carry on and conduct its business in substantially the same manner and in substantially the  same fields of enterprise as it is presently conducted.  SECTION 5.04 Payment of Obligations.  Each Loan Party will, and will cause each  Subsidiary to, pay or discharge all Material Indebtedness and all other material liabilities and  obligations, including federal, state income and other material state and material local Taxes,  before the same shall become delinquent or in default (subject to any notice and cure period),  except (i) as set forth on Schedule 3.09 and (ii) where (a) the validity or amount thereof is being  contested in good faith by appropriate proceedings, (b) such Loan Party has set aside on its books  adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make  

 

   94  #153723541_v10  payment pending such contest could not reasonably be expected to result in a Material Adverse  Effect; provided, however, that each Loan Party will, and will cause each Subsidiary to,  remit  withholding taxes and other payroll taxes to appropriate Governmental Authorities as and when  claimed to be due, notwithstanding the foregoing exceptions.  SECTION 5.05 Maintenance of Properties.  Each Loan Party will, and will cause  each Subsidiary to, keep and maintain all property material to the conduct of its business in good  working order and condition, ordinary wear and tear excepted.  SECTION 5.06 Books and Records; Inspection Rights.  Each Loan Party will, and  will cause each Subsidiary to, (a) keep proper books of record and account in which full, true and  correct entries in all material respects are made of all dealings and transactions in relation to its  business and activities and (b) permit any representatives designated by the Administrative Agent  or any Lender (including employees of the Administrative Agent, any Lender or any consultants,  accountants, lawyers, agents and appraisers retained by the Administrative Agent) during normal  business hours, upon reasonable prior notice, to visit and inspect its properties, conduct at the Loan  Party’s premises field examinations of the Loan Party’s assets, liabilities, books and records,  including examining and making extracts from its books and records, environmental assessment  reports and Phase I or Phase II studies, and to discuss its affairs, finances and condition with its  officers and independent accountants (in the presences of its officers), all at such reasonable times  and as often as reasonably requested, provided that unless an Event of Default exists or the  Administrative Agent believes in good faith that an Event of Default may exist Administrative  Agent and the Lenders will not make the inspections and examinations pursuant to this clause (b)  more than once per year without the prior consent of the Borrower.  The Loan Parties acknowledge  that the Administrative Agent, after exercising its rights of inspection, may prepare and distribute  to the Lenders certain Reports pertaining to the Loan Parties’ assets for internal use by the  Administrative Agent and the Lenders.  SECTION 5.07 Compliance with Laws and Material Contractual Obligations.  Each  Loan Party will, and will cause each Subsidiary to, (a) comply with each Requirement of Law  applicable to it or its property (including without limitation Environmental Laws) and (b) perform  in all material respects its obligations under material agreements to which it is a party , except, in  each case, where the failure to do so, individually or in the aggregate, could not reasonably be  expected to result in a Material Adverse Effect.  Each Loan Party will maintain in effect and  enforce policies and procedures designed to ensure compliance by such Loan Party, its  Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption  Laws and applicable Sanctions.  SECTION 5.08 Use of Proceeds.  (a) The proceeds of the Loans and the Letters of Credit will be used only for (i) working  capital and general corporate purposes of the Borrower and its Subsidiaries, and (ii) to refinance  certain Indebtedness existing on the Effective Date. No part of the proceeds of any Loan and no  Letter of Credit will be used, whether directly or indirectly, (i) for any purpose that entails a  violation of any of the Regulations of the Board, including Regulations T, U and X or (ii) to  make any Acquisition other than Permitted Acquisitions.  

 

   95  #153723541_v10  (b) The Borrower will not request any Borrowing or Letter of Credit, and the Borrower  shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers,  employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit (i) in  furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of  money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii)  for the purpose of funding, financing or facilitating any activities, business or transaction of or  with any Sanctioned Person, or in any Sanctioned Country, to the extent that such activities,  business or transaction would be prohibited by Sanctions if conducted by a corporation  incorporated in the United States or the European Union, or (iii) in any manner that would result  in the violation of any Sanctions applicable to any party hereto.  SECTION 5.09 Accuracy of Information.  The Loan Parties will ensure that any  information, including financial statements or other documents, furnished to the Administrative  Agent or the Lenders in connection with this Agreement or any other Loan Document or any  amendment or modification hereof or thereof or waiver hereunder or thereunder contains no  material misstatement of fact or omits to state any material fact necessary to make the statements  therein, in the light of the circumstances under which they were made, not misleading, and the  furnishing of such information shall be deemed to be a representation and warranty by the  Borrower on the date thereof as to the matters specified in this Section 5.09; provided that, with  respect to the Projections, the Loan Parties will cause the Projections to be prepared in good faith  based upon assumptions believed to be reasonable at the time.  SECTION 5.10 Insurance.  Each Loan Party will, and will cause each Subsidiary to,  maintain with financially sound and reputable carriers having a financial strength rating of at least  A- by A.M. Best Company (a) insurance in such amounts (with no greater risk retention) and  against such risks (including loss or damage by fire and loss in transit; theft, burglary, pilferage,  larceny, embezzlement, and other criminal activities; business interruption; and general liability)  and such other hazards, as is customarily maintained by companies of established repute engaged  in the same or similar businesses operating in the same or similar locations and (b) all insurance  required pursuant to the Collateral Documents.  The Borrower will furnish to the Lenders, upon  request of the Administrative Agent, but no less frequently than annually, information in  reasonable detail as to the insurance so maintained.  SECTION 5.11 Reserved.  SECTION 5.12 Casualty and Condemnation.  The Borrower (a) will furnish to the  Administrative Agent and the Lenders prompt written notice of any casualty or other insured  damage to any material portion of the Collateral or the commencement of any action or proceeding  for the taking of any material portion of the Collateral or interest therein under power of eminent  domain or by condemnation or similar proceeding and (b) will ensure that the Net Proceeds of any  such event (whether in the form of insurance proceeds, condemnation awards or otherwise) are  collected and applied in accordance with the applicable provisions of this Agreement and the  Collateral Documents  SECTION 5.13 Depository Banks.  Each Loan Party will maintain the  Administrative Agent as its principal depository bank, including for the maintenance of operating,  

 

   96  #153723541_v10  administrative, cash management, collection activity, and other deposit accounts for the conduct  of its business.    SECTION 5.14 Additional Collateral; Further Assurances.  (a) Subject to applicable Requirements of Law, each Loan Party will cause each of its  Domestic Subsidiaries formed or acquired after the date of this Agreement within sixty (60) days  (or such longer period the Administrative Agent shall approve in writing) after such formation  or acquisition to become a Loan Party by executing a Joinder Agreement. In connection  therewith, the Administrative Agent shall have received all documentation and other information  regarding such newly formed or acquired Subsidiaries as may be required to comply with the  applicable “know your customer” rules and regulations, including the USA PATRIOT Act.   Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan  Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations  in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent,  for the benefit of the Administrative Agent and the other Secured Parties, in any property of such  Loan Party which constitutes Collateral, including any Material Real Property located in the U.S.  owned by any Loan Party.    (b) Each Loan Party will cause 100% of the issued and outstanding Equity Interests of  each of its Subsidiaries to be subject at all times to a first priority, perfected Lien in favor of the  Administrative Agent for the benefit of the Administrative Agent and the other Secured Parties,  pursuant to the terms and conditions of the Loan Documents or other security documents as the  Administrative Agent shall reasonably request.   (c) Without limiting the foregoing, each Loan Party will, and will cause each  Subsidiary to, execute and deliver, or cause to be executed and delivered, to the Administrative  Agent such documents, agreements and instruments, and will take or cause to be taken such  further actions (including the delivery of legal opinions, filing and recording of financing  statements, fixture filings, mortgages, deeds of trust and other documents and such other actions  or deliveries of the type required by Section 4.01, as applicable), which may be required by any  Requirement of Law or which the Administrative Agent may, from time to time, reasonably  request to carry out the terms and conditions of this Agreement and the other Loan Documents  and to ensure perfection and priority of the Liens created or intended to be created by the  Collateral Documents, all at the expense of the Loan Parties.    (d) With respect to all owned Material Real Property that is acquired after the Effective  Date or that becomes Material Real Property after the Effective Date, the Loan Parties shall  within sixty (60) days thereafter (or such later date as approved by the Administrative Agent),  deliver each of the following, in form and substance reasonably satisfactory to the Administrative  Agent:    (i) a Mortgage on such property;  (ii) evidence that a counterpart of the Mortgage has been recorded in the place  necessary, in the Administrative Agent’s reasonable judgment, to create a valid and enforceable  

 

   97  #153723541_v10  first priority Lien in favor of the Administrative Agent for the benefit of itself and the Secured  Parties, subject to Permitted Encumbrances;  (iii) ALTA or other mortgagee’s title policy;  (iv) an ALTA survey prepared and certified to the Administrative Agent by a  surveyor reasonably acceptable to the Administrative Agent;  (v) an opinion of counsel in the state in which such real property is located in  form and substance and from counsel reasonably satisfactory to the Administrative Agent;  (vi) if any such parcel of real property is determined by the Administrative  Agent to be in a flood zone, a flood notification form signed by the Borrower and evidence that  flood insurance is in place for the building and contents, all in form and substance satisfactory to  the Administrative Agent;  (vii) if reasonably required by the Administrative Agent, a current appraisal of  the real property prepared by an appraiser reasonably acceptable to the Administrative Agent, and  in form and substance reasonably satisfactory to the Administrative Agent;  (viii) if required by the Administrative Agent, an environmental assessment of  the real property prepared by an environmental engineer reasonably acceptable to the  Administrative Agent, and accompanied by such reports, certificates, studies or data as  Administrative Agent may reasonably require, which shall all be in form and substance reasonably  satisfactory to the Administrative Agent; and  (ix) such other information, documentation, and certifications as may be  reasonably required by the Administrative Agent.  (e) If any material assets (including any real property or improvements thereto or any  interest therein) are acquired by any Loan Party after the Effective Date (other than assets  constituting Collateral under the Security Agreement that become subject to the Lien under the  Security Agreement upon acquisition thereof), the Borrower will (i) notify the Administrative  Agent and the Lenders thereof, and, if requested by the Administrative Agent or the Required  Lenders, cause such assets to be subjected to a Lien securing the Secured Obligations and (ii)   take, and cause each applicable Loan Party to take, such actions as shall be necessary or  reasonably requested by the Administrative Agent to grant and perfect such Liens, including  actions described in paragraph (c) of this Section, all at the expense of the Loan Parties.  SECTION 5.15 Designation of Subsidiaries. Subject to the final sentence of this  Section 5.15, the Borrower may at any time designate any Subsidiary of Borrower acquired or  formed after the Effective Date as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a  Subsidiary; provided, that (i) immediately before and after such designation, no Default or Event  of Default shall have occurred and be continuing or would result therefrom, (ii) immediately after  giving effect to such designation, the Loan Parties shall be in compliance on a pro forma basis  with the covenants set forth in Section 6.12, recomputed for the most recent fiscal quarter for which  financial statements have been delivered (or are required to have been delivered) pursuant to  Section 5.01(a) or Section 5.01(b), (iii) no Subsidiary may be designated as an Unrestricted  

 

   98  #153723541_v10  Subsidiary if it is a “Subsidiary” or “Restricted Subsidiary” (or other similar term) for the purpose  of the Subordinated Indebtedness or Material Indebtedness, (iv) Borrower shall deliver to  Administrative Agent at least three Business Days prior to such designation a certificate of the  chief financial officer of Borrower, together with all relevant financial information reasonably  requested by Administrative Agent, demonstrating compliance with the foregoing clauses (i)  through (iii) of this Section 5.15 and, if applicable, certifying that such Subsidiary meets the  requirements of an “Unrestricted Subsidiary”, and (v) at least 3 Business Days prior to the  designation of any Unrestricted Subsidiary as a Subsidiary, the Lenders shall have received all  documentation and other information reasonably requested (with such requests not to be  unreasonably delayed) by the Administrative Agent pursuant to “know-your-customer” and anti- money laundering rules and regulations, including the PATRIOT Act, with respect to such  Subsidiary. The designation of any Subsidiary as an Unrestricted Subsidiary shall constitute an  Investment by the Loan Parties therein at the date of designation in an amount equal to the fair  market value of the applicable Loan Parties’ direct or indirect investment in such Subsidiary;  provided, that, upon a designation of such Unrestricted Subsidiary as a Subsidiary, the Loan Parties  shall be deemed to continue to have a permanent investment in an Unrestricted Subsidiary in an  amount (if positive) equal to (i) the lesser of (A) the fair market value of the investments of the  Loan Parties and their Subsidiaries in such Unrestricted Subsidiary at the time of such  redesignation and (B) the fair market value of investments of the Loan Parties and their  Subsidiaries made in connection with the designation of such Subsidiary as an Unrestricted  Subsidiary minus (ii) the portion (proportionate to the Loan Parties’ and their Subsidiaries’ Equity  Interests in such resulting Subsidiary) of the fair market value of the net assets of such Subsidiary  at the time of such re-designation. The designation of any Unrestricted Subsidiary as a Subsidiary  shall constitute the incurrence or making, as applicable, at the time of designation of any  investments, Indebtedness or Liens of such Subsidiary existing at such time. An Unrestricted  Subsidiary that has subsequently been designated as a Subsidiary may not be redesignated as an  Unrestricted Subsidiary.    SECTION 5.16 Post-Closing Matters.    (a) Within thirty (30) days (or such longer period as Administrative Agent may agree  in writing in its sole discretion) the Borrower shall have delivered to Administrative Agent  evidence of insurance coverage in form, scope, and substance reasonably satisfactory to the  Administrative Agent and otherwise in compliance with the terms of Section 5.10 of this  Agreement and Section 4.12 of the Security Agreement; provided that within forty five (45) days  following the Effective Date (or such later date as the Administrative Agent may agree in writing  in its sole discretion), the Borrower shall deliver such insurance endorsements as is required by  the terms of the Loan Documents, including, without limitation a lenders’ loss payable  endorsement.  (b) Within ninety (90) days (or such longer period as Administrative Agent may agree  in writing in its sole discretion) the Borrower shall have paid all past due taxes of Stitch  Networks.   (c) Unless waived in writing by the Administrative Agent, within thirty (30) days (or  such longer period as Administrative Agent may agree in writing in its sole discretion) the  Borrower shall have delivered to Administrative Agent evidence (i) of the assignment of certain  

 

   99  #153723541_v10  patents identified on the Effective Date to a Loan Party and (ii) release of Patent and Trademark  Office filings in favor of Cortland identified on the Effective Date.   ARTICLE VI  Negative Covenants  Until all of the Secured Obligations shall have been Paid in Full, each Loan Party  executing this Agreement covenants and agrees, jointly and severally with all of the other Loan  Parties, with the Lenders that:  SECTION 6.01 Indebtedness.  No Loan Party will, nor will it permit any Subsidiary  to, create, incur, assume or suffer to exist any Indebtedness, except:  (a) the Secured Obligations;  (b) Indebtedness existing on the date hereof and set forth in Schedule 6.01 (excluding,  however, following the making of the initial Loan hereunder, the Indebtedness to be repaid with  the proceeds of such Loans as indicated on Schedule 6.01) and any extensions, renewals,  refinancings and replacements of any such Indebtedness in accordance with clause (f) hereof;  (c) Indebtedness of the Borrower to any Subsidiary and of any Subsidiary to the  Borrower or any other Subsidiary, provided that (i) Indebtedness of any Subsidiary that is not a  Loan Party to the Borrower or any other Loan Party shall be subject to Section 6.04 and (ii)  Indebtedness of any Loan Party to any Subsidiary that is not a Loan Party shall be subordinated  to the Secured Obligations on terms reasonably satisfactory to the Administrative Agent;  (d) Guarantees by the Borrower of Indebtedness of any Subsidiary and by any  Subsidiary of Indebtedness of the Borrower or any other Subsidiary, provided that (i) the  Indebtedness so Guaranteed is permitted by this Section 6.01, (ii) Guarantees by the Borrower  or any other Loan Party of Indebtedness of any Subsidiary that is not a Loan Party shall be  subject to Section 6.04 and (iii) Guarantees permitted under this clause (d) shall be subordinated  to the Secured Obligations on the same terms as the Indebtedness so Guaranteed is subordinated  to the Secured Obligations;  (e) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition,  construction or improvement of any fixed or capital assets (whether or not constituting purchase  money Indebtedness), including Capital Lease Obligations and 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 and replacements of any such Indebtedness  in accordance with clause (f) below; provided that (i) such Indebtedness is incurred prior to or  within 90 days after such acquisition or the completion of such construction or improvement and  (ii) the aggregate principal amount of Indebtedness permitted by this clause (e) together with any  Refinance Indebtedness in respect thereof permitted by clause (f) below, shall not exceed  $5,000,000 at any time outstanding;  (f) Indebtedness which represents extensions, renewals, refinancing or replacements  (such Indebtedness being so extended, renewed, refinanced or replaced being referred to herein  

 

   100  #153723541_v10  as the “Refinance Indebtedness”) of any of the Indebtedness described in clauses (b) and (e)  and (i) hereof (such Indebtedness being referred to herein as the “Original Indebtedness”);  provided that (i) such Refinance Indebtedness does not increase the principal amount or interest  rate of the Original Indebtedness, (ii) any Liens securing such Refinance Indebtedness are not  extended to any additional property of any Loan Party or any Subsidiary, (iii) no Loan Party or  any Subsidiary that is not originally obligated with respect to repayment of such Original  Indebtedness is required to become obligated with respect to such Refinance Indebtedness, (iv)  such Refinance Indebtedness does not result in a shortening of the average weighted maturity of  such Original Indebtedness, (v) the terms of such Refinance Indebtedness (other than fees and  interest) are not less favorable to the obligor thereunder than the original terms of such Original  Indebtedness and (vi) if such Original Indebtedness was subordinated in right of payment to the  Secured Obligations, then the terms and conditions of such Refinance Indebtedness must include  subordination terms and conditions that are at least as favorable to the Administrative Agent and  the Lenders as those that were applicable to such Original Indebtedness;  (g) Indebtedness owed to any Person providing workers’ compensation, health,  disability or other employee benefits or property, casualty or liability insurance, pursuant to  reimbursement or indemnification obligations to such Person, in each case incurred in the  ordinary course of business;  (h) Indebtedness of any Loan Party in respect of performance bonds, bid bonds, appeal  bonds, surety bonds and similar obligations, in each case provided in the ordinary course of  business;  (i) Indebtedness of any Person that becomes a Subsidiary after the date hereof;  provided that (i) such Indebtedness exists at the time such Person becomes a Subsidiary and is  not created in contemplation of or in connection with such Person becoming a Subsidiary and  (ii) the aggregate principal amount of Indebtedness permitted by this clause (i) together with any  Refinance Indebtedness in respect thereof permitted by clause (f) above, shall not exceed  $500,000 at any time outstanding;   (j) other unsecured Indebtedness of the Loan Parties in an aggregate principal amount  not exceeding $2,500,000 at any time outstanding;   (k) earn-outs in connection with Permitted Acquisitions; and   (l) Permitted Ratio Indebtedness so long as (i) no Event of Default shall have occurred  and be continuing or would result therefrom, and (ii) immediately after giving effect to the  issuance, incurrence or assumption of such Indebtedness, the Total Leverage Ratio on a pro  forma basis shall not exceed 0.25x less than the then maximum permitted Total Leverage Ratio  under Section 6.12 hereof, and the Borrower shall have certified in writing to the Administrative   Agent that the foregoing conditions have been satisfied, and that such Indebtedness constitutes  Permitted Ratio Indebtedness, at the time of the incurrence of such Indebtedness.  SECTION 6.02 Liens.  No Loan Party will, nor will it permit any Subsidiary to,  create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter  

 

   101  #153723541_v10  acquired by it, or assign or sell any income or revenues (including Accounts) or rights in respect  of any thereof, except:  (a) Liens created pursuant to any Loan Document;  (b) Permitted Encumbrances;  (c) any Lien on any property or asset of the Borrower or any Subsidiary existing on the  date hereof and set forth in Schedule 6.02; provided that (i) such Lien shall not apply to any other  property or asset of the Borrower or any Subsidiary and (ii) such Lien shall secure only those  obligations which it secures on the date hereof and extensions, renewals and replacements  thereof that do not increase the outstanding principal amount thereof;  (d) Liens on fixed or capital assets acquired, constructed or improved by the Borrower  or any Subsidiary; provided that (i) such Liens secure Indebtedness permitted by clause (e) of  Section 6.01, (ii) such Liens and the Indebtedness secured thereby are incurred prior to or within  90 days after such acquisition or the completion of such construction or improvement, and  (iii) such Liens shall not apply to any other property or assets of the Borrower or any Subsidiary;  (e) any Lien existing on any property or asset (other than Accounts and Inventory)  prior to the acquisition thereof by the Borrower or any Subsidiary or existing on any property or  asset (other than Accounts and Inventory) of any Person that becomes a Loan Party after the date  hereof prior to the time such Person becomes a Loan Party; provided that (i) such Lien is not  created in contemplation of or in connection with such acquisition or such Person becoming a  Loan Party, as the case may be, (ii) such Lien shall not apply to any other property or assets of  the Loan Party and (iii) such Lien shall secure only those obligations which it secures on the date  of such acquisition or the date such Person becomes a Loan Party, as the case may be, and  extensions, renewals and replacements thereof that do not increase the outstanding principal  amount thereof;  (f) Liens of a collecting bank arising in the ordinary course of business under  Section 4-208 of the UCC in effect in the relevant jurisdiction covering only the items being  collected upon;  (g) Liens arising out of Sale and Leaseback Transactions permitted by Section 6.06;   (h) Liens granted by a Subsidiary that is not a Loan Party in favor of the Borrower or  another Loan Party in respect of Indebtedness owed by such Subsidiary;  (i) non-exclusive licenses or sublicenses (including the provision of software under an  open source license) of Intellectual Property permitted by this Agreement (so long as any such  Lien does not secure any Indebtedness) and do not interfere in any material respect with the  rights and remedies of the Administrative Agent; and  (j) leasing or licensing of fixed asset Inventory to third parties in the ordinary course  of business.  

 

   102  #153723541_v10  SECTION 6.03 Fundamental Changes.  (a) No Loan Party will, nor will it permit any Subsidiary to, merge into or consolidate  with any other Person, or permit any other Person to merge into or consolidate with it, or  otherwise Dispose of all or substantially all of its assets, or all or substantially all of the Equity  Interests of any of its Subsidiaries, or liquidate or dissolve, except that, if at the time thereof and  immediately after giving effect thereto no Event of Default shall have occurred and be  continuing, (i) any Subsidiary of the Borrower may merge into the Borrower in a transaction in  which the Borrower is the surviving entity, (ii) any Loan Party (other than the Borrower) may  merge into any other Loan Party in a transaction in which the surviving entity is a Loan Party,  (iii) any Subsidiary that is not a Loan Party may merge into a Loan Party so long as such Loan  Party is the surviving entity, (iv) any Subsidiary may merge into a Person that is not a Loan Party  if after giving effect to such merger, such Person becomes a wholly-owned Subsidiary of the  Borrower and a Loan Party in accordance with Section 5.14 and if such merger constitutes a  Permitted Acquisition, and (v) any Subsidiary that is not a Loan Party may liquidate or dissolve  if the 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; provided that any such  merger involving a Person that is not a wholly owned Subsidiary immediately prior to such  merger shall not be permitted unless also permitted by Section 6.04.  (b) No Loan Party will, nor will it permit any Subsidiary to, engage in any business  other than businesses of the type conducted by the Borrower and its Subsidiaries on the date  hereof and businesses reasonably related thereto.  (c) No Loan Party will, nor will it permit any Subsidiary to change its fiscal year or  any fiscal quarter from the basis in effect on the Effective Date.  (d) No Loan Party will change the accounting basis upon which its financial statements  are prepared.  (e) No Loan Party will, nor will it permit any Subsidiary to, consummate a Division as  the Dividing Person, without the prior written consent of Administrative Agent. Without limiting  the foregoing, if any Loan Party that is a limited liability company consummates a Division (with  or without the prior consent of Administrative Agent as required above), each Division Successor  shall be required to comply with the obligations set forth in Section 5.14 and the other further  assurances obligations set forth in the Loan Documents and become a Loan Party under this  Agreement and the other Loan Documents.  SECTION 6.04 Investments, Loans, Advances, Guarantees and Acquisitions.  No  Loan Party will, nor will it permit any Subsidiary to, form any subsidiary after the Effective Date,  or purchase, hold or acquire (including pursuant to any merger with any Person that was not a  Loan Party and a wholly owned Subsidiary prior to such merger) any Equity Interests, 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 (whether through purchase of assets, merger or otherwise), except:  

 

   103  #153723541_v10  (a) Permitted Investments, subject to control agreements in favor of the Administrative  Agent for the benefit of the Secured Parties or otherwise subject to a perfected security interest  in favor of the Administrative Agent for the benefit of the Secured Parties;  (b) investments in existence on the date hereof and described in Schedule 6.04;  (c) investments by the Borrower and the Subsidiaries in Equity Interests in their  respective Subsidiaries, provided that (i) any such Equity Interests held by a Loan Party shall be  pledged pursuant to the Security Agreement (subject to the limitations applicable to Equity  Interests of a Foreign Subsidiary referred to in Section 5.14) and (ii) the aggregate amount of  investments by Loan Parties in Subsidiaries that are not Loan Parties shall not exceed $2,500,000  at any time outstanding (in each case determined net of any returns on capital but without regard  to any write-downs or write-offs);   (d) loans or advances made by any Loan Party to any Subsidiary and made by any  Subsidiary to a Loan Party or any other Subsidiary, provided that (i) to the extent any such loans  and advances made by a Loan Party is evidenced by a promissory note, such promissory note  shall be pledged pursuant to the Security Agreement and (ii) the amount of such loans and  advances made by Loan Parties to Subsidiaries that are not Loan Parties (together with  outstanding Guarantees permitted under the proviso of Section 6.04(e)) shall not exceed  $2,500,000 at any time outstanding (in each case determined net of any cash payments of  principal thereon but without regard to any write-downs or write-offs);  (e) Guarantees constituting Indebtedness permitted by Section 6.01, provided that the  aggregate principal amount of Indebtedness of Subsidiaries that are not Loan Parties that is  Guaranteed by any Loan Party (together with outstanding intercompany loans permitted under  clause (ii) of the proviso to Section 6.04(d)) shall not exceed $2,500,000 at any time outstanding  (in each case determined without regard to any write-downs or write-offs);  (f) loans or advances made by a Loan Party to its employees on an arms-length basis  in the ordinary course of business consistent with past practices for travel and entertainment  expenses, relocation costs and similar purposes up to a maximum of $250,000 in the aggregate  at any one time outstanding;  (g) notes payable, or stock or other securities issued by Account Debtors to a Loan  Party pursuant to negotiated agreements with respect to settlement of such Account Debtor’s  Accounts in the ordinary course of business, consistent with past practices;  (h) investments in the form of Swap Agreements permitted by Section 6.07;  (i) investments of any Person existing at the time such Person becomes a Subsidiary  of the Borrower or consolidates or merges with the Borrower or any Subsidiary (including in  connection with a Permitted Acquisition), so long as such investments were not made in  contemplation of such Person becoming a Subsidiary or of such merger;  (j) investments received in connection with the disposition of assets permitted by  Section 6.05;   

 

   104  #153723541_v10  (k) investments constituting deposits described in clauses (c) and (d) of the definition  of the term “Permitted Encumbrances”;  (l) customary Guarantees in connection with asset sales and other asset dispositions  permitted hereunder and in connection with operating leases permitted hereunder (but not with  respect of Indebtedness), including indemnification obligations and parent guarantees with  respect to such leases;  (m) Permitted Acquisitions;  (n) additional investments (other than Acquisitions) in an amount not to exceed  $5,000,000 in the aggregate after the Effective Date;  (o) loans and investments in insurance premium financing;   (p) investments by any Loan Party so long as (i) no Event of Default exists at the time  of such investment and (ii) after giving pro forma effect to such investment the Total Leverage  Ratio shall not exceed 2.00 to 1.00;  provided, however, no investments of Material Intellectual Property shall be made in any Person  (other than in a Loan Party).  SECTION 6.05 Asset Sales.  No Loan Party will, nor will it permit any Subsidiary  to, sell, transfer, lease or otherwise Dispose of any asset, including any Equity Interest owned by  it, nor will the Borrower permit any Subsidiary to issue any additional Equity Interest in such  Subsidiary (other than to the Borrower or another Subsidiary in compliance with Section 6.03 or  Section 6.04), except:  (a) Dispositions of (i) Inventory in the ordinary course of business and (ii) used,  obsolete, uneconomical, negligible worn out or surplus Equipment or property in the ordinary  course of business;  (b) transfers of assets (i) among Loan Parties and (ii) by any Subsidiary that is not a  Loan Party to any Loan Party or other Subsidiary;  (c) sales, transfers and dispositions of Accounts (excluding sales or dispositions in a  factoring arrangement) in connection with the compromise, settlement or collection thereof;  (d) sales, transfers and dispositions of Permitted Investments;  (e) Sale and Leaseback Transactions permitted by Section 6.06;  (f) dispositions resulting from any casualty or other insured damage to, or any taking  under power of eminent domain or by condemnation or similar proceeding of, any property or  asset of the Borrower or any Subsidiary;   

 

   105  #153723541_v10  (g) non-exclusive licensing of Intellectual Property in the ordinary course of business  that does not interfere in any material respect with the business of the Loan Parties or the rights  and remedies of the Administrative Agent with respect to such Intellectual Property; and  (h) sales, transfers and other dispositions of assets (other than Equity Interests in a  Subsidiary unless all Equity Interests in such Subsidiary are sold) 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 in reliance upon this paragraph (g) shall not exceed  $1,000,000 during any fiscal year of the Borrower;  provided that all sales, transfers, leases and other dispositions permitted under this Section 6.05  (other than those permitted by paragraphs (b), (d) and (f) above) shall be made for fair value and  for at least 75% cash consideration; provided, further that, no Disposition of Material Intellectual  Property shall be made to any Person (other than to a Loan Party).   SECTION 6.06 Sale and Leaseback Transactions.  No Loan Party will, nor will it  permit any Subsidiary 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 (a “Sale and  Leaseback Transaction”).  SECTION 6.07 Swap Agreements.  No Loan Party will, nor will it permit any  Subsidiary to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge  or mitigate risks to which the Borrower or any Subsidiary has actual exposure (other than those in  respect of Equity Interests of the Borrower or any Subsidiary), and (b) Swap Agreements entered  into in order to effectively cap, collar or exchange interest rates (from floating to fixed 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 Subsidiary.  SECTION 6.08 Restricted Payments; Certain Payments of Indebtedness.  (a) No Loan Party will, nor will it permit any Subsidiary to, declare or make, or agree  to declare or make, directly or indirectly, any Restricted Payment, or incur any obligation  (contingent or otherwise) to do so, except (i) the Borrower may declare and pay dividends with  respect to its common stock payable solely in additional shares of its common stock, and, with  respect to its preferred stock, payable solely in additional shares of such preferred stock or in  shares of its common stock, (ii) Subsidiaries may declare and pay dividends ratably with respect  to their Equity Interests, (iii) the Borrower may make Restricted Payments, not exceeding  $500,000 during any fiscal year, pursuant to and in accordance with stock option plans or other  benefit plans for management or employees of the Borrower and its Subsidiaries, (iv) the  Borrower may buy back, retire, redeem or otherwise acquire for cash or value its outstanding  Series A Preferred Stock and may pay any accumulated dividends to any shareholder of  Borrower so long as (A) no Default or Event of Default exists before and immediately after  giving effect to such transaction, (B) the Total Leverage Ratio on a pro forma basis does not  exceed 0.25x less than the then applicable maximum Total Leverage Ratio permitted by Section  6.12 hereof, and (C) the Borrower has delivered to the Administrative Agent a certificate signed  

 

   106  #153723541_v10  by its chief financial officer certifying that the foregoing conditions have been satisfied together  with calculations demonstrating compliance with clause (B), and (v) the Borrower may make  payments of cash dividends on the common stock, units or equity of the Borrower in an amount  not to exceed in any fiscal year 6.0% of market capitalization of the Borrower so long as (A) no  Default or Event of Default exists before and immediately after giving effect to such dividend,  (B) after giving pro forma effect to such dividend, the Borrower would be in compliance with  the financial covenants in Section 6.12, and (C) the Borrower has delivered to the Administrative  Agent a certificate signed by its chief financial officer certifying that the foregoing conditions  have been satisfied together with calculations demonstrating compliance with clause (B);  provided that no Restricted Payment of Material Intellectual Property shall be made to any  Person (other than to a Loan Party).    (b) No Loan Party will, nor will it permit any Subsidiary to, make or agree to pay or  make, directly or indirectly, any payment or other distribution (whether in cash, securities or  other property) of or in respect of principal of or interest on any Indebtedness, or any payment  or other distribution (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 Indebtedness, except:  (i) payment of Indebtedness created under the Loan Documents;  (ii) payment of regularly scheduled interest and principal payments as and when  due in respect of any Indebtedness permitted under Section 6.01, other than payments in respect  of the Subordinated Indebtedness prohibited by the subordination provisions thereof;   (iii) refinancings of Indebtedness to the extent permitted by Section 6.01; and  (iv) payment of secured Indebtedness that becomes due as a result of the  voluntary sale or transfer of the property or assets securing such Indebtedness to the extent such  sale or transfer is permitted by the terms of Section 6.05.  SECTION 6.09 Transactions with Affiliates.  No Loan Party will, nor will it permit  any 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 (i) are in the ordinary course of business and  (ii) are at prices and on terms and conditions not less favorable to such Loan Party or such  Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties,  (b) transactions between or among the Loan Parties not involving any other Affiliate, (c) any  investment permitted by Sections 6.04(c) or 6.04(d), (d) any Indebtedness permitted under Section  6.01(c), (e) any Restricted Payment permitted by Section 6.08, (f) loans or advances to employees  permitted under Section 6.04(f), (g) the payment of reasonable fees to directors of the Borrower  or any Subsidiary who are not employees of the Borrower or any Subsidiary, including equity  compensation, and compensation and employee benefit arrangements paid to, and indemnities  provided for the benefit of, directors, officers or employees of the Borrower or its Subsidiaries in  the ordinary course of business, and (h) any issuances of securities or other payments, awards or  grants in cash, securities or otherwise pursuant to, or the funding of, employment agreements,  stock options and stock ownership plans approved by the Borrower’s board of directors.  

 

   107  #153723541_v10  SECTION 6.10 Restrictive Agreements.  No Loan Party will, nor will it permit any  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 such Loan  Party or any Subsidiary to create, incur or permit to exist any Lien upon any of its property or  assets, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to  any Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary  or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that (i) the  foregoing shall not apply to restrictions and conditions imposed by any Requirement of Law or by  any Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on  the date hereof identified on Schedule 6.10 (and any amendment or modification with respect to  such agreement or transaction, and the performance of obligations thereunder, so long as such  amendment or modification is not materially adverse to the interests of the Lenders), (iii) the  foregoing shall not apply to customary restrictions and conditions contained in agreements relating  to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only  to the Subsidiary that is to be sold and such sale is permitted hereunder, (iv) 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 and (v) clause (a) of the foregoing shall not apply  to customary provisions in leases and other contracts restricting the assignment thereof.  SECTION 6.11 Amendment of Material Documents.  No Loan Party will, nor will  it permit any Subsidiary to, amend, modify or waive any of its rights under (a)  any agreement  relating to any Subordinated Indebtedness, or (b) its charter, articles or certificate of organization  or incorporation and bylaws or operating, management or partnership agreement, or other  organizational or governing documents, to the extent any such amendment, modification or waiver  would be adverse to the Lenders.  SECTION 6.12 Financial Covenants.  The Borrower will not permit the Total  Leverage Ratio, on the last day of any fiscal quarter, to be greater than 3.00 to 1.00, provided that  if a Material Acquisition occurs, then for the next four fiscal quarters thereafter, the Borrower will  not permit the Total Leverage Ratio, on the last day of any such fiscal quarter, to be greater than  4.00 to 1.00.  ARTICLE VII  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 and in the Agreed Currency required hereunder, 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 Article) payable under this  Agreement or any other Loan Document, when and as the same shall become due and payable  

 

   108  #153723541_v10  and in the Agreed Currency required hereunder, and such failure shall continue unremedied for  a period of three (3) Business Days;  (c) any representation or warranty made or deemed made by or on behalf of any Loan  Party or any Subsidiary in, or in connection with, this Agreement or any other Loan Document  or any amendment or modification hereof or thereof or waiver hereunder or thereunder, or in any  report, certificate, financial statement or other document furnished pursuant to or in connection  with this Agreement or any other Loan Document or any amendment or modification hereof or  thereof or waiver hereunder or thereunder, shall prove to have been materially incorrect when  made or deemed made (it being understood and agreed that any representation or warranty which  is subject to any materiality qualifier shall be required to be true and correct in all respects);  (d) any Loan Party shall fail to observe or perform any covenant, condition or  agreement contained in Section 5.02(a), 5.03 (with respect to a Loan Party’s existence), 5.08,  5.14 or in Article VI;  (e) any Loan Party shall fail to observe or perform any covenant, condition or agree- ment contained in this Agreement (other than those specified in clause (a), (b) or (d)), and such  failure shall continue unremedied for a period of (i) 10 days after the earlier of any Loan Party’s  knowledge of such breach or notice thereof from the Administrative Agent (which notice will be  given at the request of any Lender) if such breach relates to terms or provisions of Section 5.01,  5.02 (other than Section 5.02(a)), 5.03 through 5.07, 5.10, 5.13, 5.15, or 5.16 of this Agreement  or (ii) 30 days after the earlier of any Loan Party’s knowledge of such breach or notice thereof  from the Administrative Agent (which notice will be given at the request of any Lender) if such  breach relates to terms or provisions of any other Section of this Agreement;  (f) any Loan Party or any Subsidiary shall fail to make any payment (whether of  principal or interest and regardless of amount) in respect of any Material Indebtedness, when  and as the same shall become due and payable;  (g) any event or condition occurs that results in any Material Indebtedness becoming  due prior to its scheduled maturity or that enables or permits (with or without the giving of notice,  the lapse of time or both) the holder or holders of any Material Indebtedness 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 secured Indebtedness that becomes due as a result  of the voluntary sale or transfer of the property or assets securing such Indebtedness to the extent  such sale or transfer is permitted by the terms of Section 6.05;  (h) an involuntary proceeding shall be commenced or an involuntary petition shall be  filed seeking (i) liquidation, reorganization or other relief in respect of a Loan Party or 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 any Loan Party or  any Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or  petition shall continue undismissed for sixty (60) days or an order or decree approving or  ordering any of the foregoing shall be entered;  

 

   109  #153723541_v10  (i) any Loan Party or any 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 Article, (iii) apply for or consent to the  appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for  such Loan Party or Subsidiary of any Loan Party 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) any Loan Party or any Subsidiary shall become unable, admit in writing its inability,  or publicly declare its intention not to, 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 $1,500,000 in excess of insurance coverage therefor (as provided by an underwriter acceptable  to Administrative Agent, where such underwriter has admitted coverage in writing, and such  insurance coverage otherwise fully complies in all respects with this Agreement)  shall be  rendered against any Loan Party, any Subsidiary or any combination thereof  and the same shall  remain undischarged for a period of thirty (30) consecutive days during which execution shall  not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or  levy upon any assets of any Loan Party or any Subsidiary  to enforce any such judgment or any  Loan Party or any Subsidiary shall fail within thirty (30) days to discharge one or more non- monetary judgments or orders which, individually or in the aggregate, could reasonably be  expected to have a Material Adverse Effect, which judgments or orders, in any such case, are  not stayed on appeal and being appropriately contested in good faith by proper proceedings  diligently pursued;  (l) an ERISA Event shall have occurred that, in the opinion of the Required Lenders,  when taken together with all other ERISA Events that have occurred, could reasonably be  expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount  exceeding $1,500,000 for all periods;  (m) a Change in Control shall occur;  (n) the occurrence of any “event of default”, as defined in any Loan Document (other  than this Agreement), or the breach of any of the terms or provisions of any Loan Document  (other than this Agreement), which default or breach continues beyond any period of grace  therein provided;  (o) the Loan Guaranty or any Obligation Guaranty shall fail to remain in full force or  effect or any action shall be taken to discontinue or to assert the invalidity or unenforceability of  the Loan Guaranty or any Obligation Guaranty, or any Guarantor shall fail to comply with any  of the terms or provisions of the Loan Guaranty or any Obligation Guaranty to which it is a party,  or any Guarantor shall deny that it has any further liability under the Loan Guaranty or any  Obligation Guaranty to which it is a party, or shall give notice to such effect, including, but not  

 

   110  #153723541_v10  limited to notice of termination delivered pursuant to Section 10.08 or any notice of termination  delivered pursuant to the terms of any Obligation Guaranty;  (p) except as permitted by the terms hereof of any Collateral Document, (i) any  Collateral Document shall for any reason fail to create a valid security interest in any Collateral  purported to be covered thereby, or (ii) any Lien securing any Secured Obligation shall cease to  be a perfected, first priority Lien;  (q) any Collateral Document shall fail to remain in full force or effect or any action  shall be taken to discontinue or to assert the invalidity or unenforceability of any Collateral  Document;   (r) any material provision of any Loan Document for any reason ceases to be valid,  binding and enforceable in accordance with its terms (or any Loan Party shall challenge the  enforceability of any Loan Document or shall assert in writing, or engage in any action or  inaction that evidences its assertion, that any provision of any of the Loan Documents has ceased  to be or otherwise is not valid, binding and enforceable in accordance with its terms); or  (s) any Loan Party is criminally indicted or convicted under any law that may  reasonably be expected to lead to a forfeiture of any property of such Loan Party having a fair  market value in excess of $5,000,000;  then, and in every such event (other than an event with respect to 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 the Borrower, take either or both of the following actions, at the same or different  times:  (i) terminate the Commitments (including the Swingline Commitment), whereupon  the Commitments shall terminate immediately, (ii) declare the Loans then outstanding to  be due and payable in whole (or in part, but ratably as among the Classes of Loans and the  Loans of each Class at the time outstanding, in which case any principal not so declared to  be due and payable may thereafter be declared to be due and payable), whereupon the  principal of the Loans so declared to be due and payable, together with accrued interest  thereon and all fees and other obligations of the Borrower accrued hereunder, shall become  due and payable immediately, in each case without presentment, demand, protest or other  notice of any kind, all of which are hereby waived by the Borrower, and (iii) require cash  collateral for the LC Exposure in accordance with Section 2.06(j) hereof; and in the case  of any event with respect to the Borrower described in clause (h) or (i) of this Article, the  Commitments (including the Swingline Commitment) shall automatically terminate and  the principal of the Loans then outstanding, and cash collateral for the LC Exposure,  together with accrued interest thereon and all fees and other obligations of the Borrower  accrued hereunder, shall automatically become due and payable, in each case without  presentment, demand, protest or other notice of any kind, all of which are hereby waived  by the Borrower.  Notwithstanding the foregoing, the Administrative Agent’s remedies  with respect to clause (ii) above shall include, upon request of the Required Lenders, the  right to the appointment of a receiver for any properties and assets of the Loan Parties (to  the extent such Loan Parties’ properties and assets secure the Obligations), and each Loan  Party hereby consents to such right and such appointment and hereby waives any objection  

 

   111  #153723541_v10  each Loan Party may have thereto or the right to have a bond or security posted by the  Administrative Agent on behalf of the Lenders, in connection therewith.  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, increase the rate of interest  applicable to the Loans and other Obligations as set forth in this Agreement and exercise  any rights and remedies provided to the Administrative Agent under the Loan Documents  or at law or equity, including all remedies provided under the UCC.  ARTICLE VIII  The Administrative Agent  SECTION 8.01 Authorization and Action.    (a) Each Lender, on behalf of itself and any of its Affiliates that are Secured Parties  and Issuing Bank hereby irrevocably appoints the entity named as Administrative Agent in the  heading of this Agreement and its successors and assigns to serve as the administrative agent  and collateral agent under the Loan Documents and each Lender and Issuing Bank authorizes  the Administrative Agent to take such actions as agent on its behalf and to exercise such powers  under this Agreement and the other Loan Documents as are delegated to the Administrative  Agent under such agreements and to exercise such powers as are reasonably incidental thereto.  In addition, to the extent required under the laws of any jurisdiction other than within the United  States, each Lender and Issuing Bank hereby grants to the Administrative Agent any required  powers of attorney to execute and enforce any Collateral Document governed by the laws of  such jurisdiction on such Lender’s or the Issuing Bank’s behalf.  Without limiting the foregoing,  each Lender and Issuing Bank hereby authorizes the Administrative Agent to execute and  deliver, and to perform its obligations under, each of the Loan Documents to which the  Administrative Agent is a party, and to exercise all rights, powers and remedies that the  Administrative Agent may have under such Loan Documents.  (b) As to any matters not expressly provided for herein and in the other Loan  Documents (including enforcement or collection), the Administrative Agent shall not be required  to exercise any discretion or take any action, but shall be required to act or to refrain from acting  (and shall be fully protected in so acting or refraining from acting) upon the written instructions  of the Required Lenders (or such other number or percentage of the Lenders as shall be  necessary, pursuant to the terms in the Loan Documents), and, unless and until revoked in  writing, such instructions shall be binding upon each Lender and Issuing Bank; provided,  however, that the Administrative Agent shall not be required to take any action that (i) the  Administrative Agent in good faith believes exposes it to liability unless the Administrative  Agent receives an indemnification and is exculpated in a manner satisfactory to it from the  Lenders and the Issuing Bank with respect to such action or (ii) is contrary to this Agreement or  any other Loan Document or applicable law, including any action that may be in violation of the  automatic stay under any requirement of law relating to bankruptcy, insolvency or reorganization  or relief of debtors or that may effect a forfeiture, modification or termination of property of a  Defaulting Lender in violation of any requirement of law relating to bankruptcy, insolvency or  reorganization or relief of debtors; provided, further, that the Administrative Agent may seek  clarification or direction from the Required Lenders prior to the exercise of any such instructed  

 

   112  #153723541_v10  action and may refrain from acting until such clarification or direction has been provided. 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 the  Borrower, any other Loan Party, any Subsidiary or any Affiliate of any of the foregoing that is  communicated to or obtained by the Person serving as Administrative Agent or any of its  Affiliates in any capacity. Nothing in this Agreement shall require the Administrative Agent to  expend or risk its own funds or otherwise incur any financial liability in the performance of any  of its duties hereunder or in the exercise of any of its rights or powers if it shall have reasonable  grounds for believing that repayment of such funds or adequate indemnity against such risk or  liability is not reasonably assured to it.  (c) In performing its functions and duties hereunder and under the other Loan  Documents, the Administrative Agent is acting solely on behalf of the Lenders and the Issuing  Bank (except in limited circumstances expressly provided for herein relating to the maintenance  of the Register), and its duties are entirely mechanical and administrative in nature.  Without  limiting the generality of the foregoing:  (i) the Administrative Agent does not assume and shall not be deemed  to have assumed any obligation or duty or any other relationship as the agent,  fiduciary or trustee of or for any Lender, Issuing Bank, any other Secured Party or  holder of any other obligation other than as expressly set forth herein and in the  other Loan Documents, regardless of whether a Default or an Event of Default has  occurred and is continuing (and it is understood and agreed that the use of the term  “agent” (or any similar term) herein or in any other Loan Document with reference  to the Administrative Agent is not intended to connote any fiduciary duty or other  implied (or express) obligations arising under agency doctrine of any applicable  law, and that such term is used as a matter of market custom and is intended to  create or reflect only an administrative relationship between contracting parties);  additionally, each Lender agrees that it will not assert any claim against the  Administrative Agent based on an alleged breach of fiduciary duty by the  Administrative Agent in connection with this Agreement and/or the transactions  contemplated hereby; and  (ii) nothing in this Agreement or any Loan Document shall require the  Administrative Agent to account to any Lender for any sum or the profit element  of any sum received by the Administrative Agent for its own account;  (d) The Administrative Agent may perform any of its duties and exercise its rights and  powers hereunder or under any other Loan Document by or through any one or more sub-agents  appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may  perform any of their respective duties and exercise their respective rights and powers through  their respective Related Parties. The exculpatory provisions of this Article shall apply to any  such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent,  and shall apply to their respective activities pursuant to this Agreement. The Administrative  Agent shall not be responsible for the negligence or misconduct of any sub-agent except to the  extent that a court of competent jurisdiction determines in a final and non-appealable judgment  

 

   113  #153723541_v10  that the Administrative Agent acted with gross negligence or willful misconduct in the selection  of such sub-agent.  (e) Any Arranger shall have obligations or duties whatsoever in such capacity under  this Agreement or any other Loan Document and shall incur no liability hereunder or thereunder  in such capacity, but all such persons shall have the benefit of the indemnities provided for  hereunder.  (f) In case of the pendency of any proceeding with respect to any Loan Party under  any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter  in effect, the Administrative Agent (irrespective of whether the principal of any Loan or any  reimbursement obligation in respect of any LC Disbursement shall then be due and payable as  herein expressed or by declaration or otherwise and irrespective of whether the Administrative  Agent shall have made any demand on the Borrower) shall be entitled and empowered (but not  obligated) by intervention in such proceeding or otherwise:  (i) to file and prove a claim for the whole amount of the principal and  interest owing and unpaid in respect of the Loans, LC Disbursements and all other  Obligations that are owing and unpaid and to file such other documents as may be  necessary or advisable in order to have the claims of the Lenders, the Issuing Bank  and the Administrative Agent (including any claim under Sections 2.12, 2.13, 2.15,  2.17 and 9.03) allowed in such judicial proceeding; and  (ii) to collect and receive any monies or other property payable or  deliverable on any such claims and to distribute the same;   and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in  any such proceeding is hereby authorized by each Lender, Issuing Bank and each other Secured  Party to make such payments to the Administrative Agent and, in the event that the Administrative  Agent shall consent to the making of such payments directly to the Lenders, the Issuing Bank or  the other Secured Parties, to pay to the Administrative Agent any amount due to it, in its capacity  as the Administrative Agent, under the Loan Documents (including under Section 9.03).  Nothing  contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to  or accept or adopt on behalf of any Lender or Issuing Bank any plan of reorganization,  arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or  Issuing Bank or to authorize the Administrative Agent to vote in respect of the claim of any Lender  or Issuing Bank in any such proceeding.    The provisions of this Article are solely for the benefit of the Administrative Agent,  the Lenders and the Issuing Bank, and, except solely to the extent of the Borrower’s rights to  consent pursuant to and subject to the conditions set forth in this Article, none of the Borrower or  any Subsidiary, or any of their respective Affiliates, shall have any rights as a third party  beneficiary under any such provisions. Each Secured Party, whether or not a party hereto, will be  deemed, by its acceptance of the benefits of the Collateral and of the Guarantees of the Secured  Obligations provided under the Loan Documents, to have agreed to the provisions of this Article.  SECTION 8.02 Administrative Agent’s Reliance, Indemnification, Etc.  

 

   114  #153723541_v10  (a) Neither the Administrative Agent nor any of its Related Parties shall be (i) liable  for any action taken or omitted to be taken by such party, the Administrative Agent or any of its  Related Parties under or in connection with this Agreement or the other Loan Documents (x)  with the consent of or at the request of the Required Lenders (or such other number or percentage  of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith  to be necessary, under the circumstances as provided in the Loan Documents) or (y) in the  absence of its own gross negligence or willful misconduct (such absence to be presumed unless  otherwise determined by a court of competent jurisdiction by a final and non-appealable  judgment) or (ii) responsible in any manner to any of the Lenders for any recitals, statements,  representations or warranties made by any Loan Party or any officer thereof contained in this  Agreement or any other Loan Document or in any certificate, report, statement or other document  referred to or provided for in, or received by the Administrative Agent under or in connection  with, this Agreement or any other Loan Document or for the value, validity, effectiveness,  genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or for  any failure of any Loan Party to perform its obligations hereunder or thereunder.  (b) The Administrative Agent shall be deemed not to have knowledge of any Default  unless and until written notice thereof (stating that it is a “notice of default”) is given to the  Administrative Agent by the Borrower, a Lender or the Issuing Bank, 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 thereunder or in connection therewith, (iii)  the performance or observance of any of the covenants, agreements or other terms or conditions  set forth in any Loan Document or the occurrence of any Default, (iv) the sufficiency, 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 (which on their face purport to be  such items) expressly required to be delivered to the Administrative Agent or satisfaction of any  condition that expressly refers to the matters described therein being acceptable or satisfactory  to the Administrative Agent, or (vi) the creation, perfection or priority of Liens on the Collateral.    Notwithstanding anything herein to the contrary, the Administrative Agent shall not be liable  for, or be responsible for any Liabilities, costs or expenses suffered by the Borrower, any  Subsidiary, any Lender or any Issuing Bank as a result of, any determination of the Revolving  Exposure, any of the component amounts thereof or any portion thereof attributable to each  Lender or Issuing Bank, or any Exchange Rate or Dollar Equivalent other than as a result of the  gross negligence or willful misconduct of the Administrative Agent or its Related Parties as  determined by a court of competent jurisdiction by final and nonappealable judgment.  (c) Without limiting the foregoing, the Administrative Agent (i) may treat the payee of  any promissory note as its holder until such promissory note has been assigned in accordance  with Section 9.04, (ii) may rely on the Register to the extent set forth in Section 9.04(b), (iii)  may consult with legal counsel (including counsel to the Borrower), independent public  accountants and other experts selected by it, and shall not be liable for any action taken or omitted  to be taken in good faith by it in accordance with the advice of such counsel, accountants or  experts, (iv) makes no warranty or representation to any Lender or Issuing Bank and shall not be  responsible to any Lender or Issuing Bank for any statements, warranties or representations made  by or on behalf of any Loan Party in connection with this Agreement or any other Loan  

 

   115  #153723541_v10  Document, (v) 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, may presume that such condition is satisfactory to such Lender or  Issuing Bank unless the Administrative Agent shall have received notice to the contrary from  such Lender or Issuing Bank sufficiently in advance of the making of such Loan or the issuance  of such Letter of Credit and (vi) shall be entitled to rely on, and shall incur no liability under or  in respect of this Agreement or any other Loan Document by acting upon, any notice, consent,  certificate or other instrument or writing (which writing may be a fax, any electronic message,  Internet or intranet website posting or other distribution) or any statement made to it orally or by  telephone and believed by it to be genuine and signed or sent or otherwise authenticated by the  proper party or parties (whether or not such Person in fact meets the requirements set forth in the  Loan Documents for being the maker thereof).  SECTION 8.03 Posting of Communications.      (a) The Borrower agrees that the Administrative Agent may, but shall not be obligated  to, make any Communications available to the Lenders and the Issuing Bank by posting the  Communications on IntraLinksTM, DebtDomain, SyndTrak, ClearPar or any other Electronic  System chosen by the Administrative Agent to be its electronic transmission system (the  “Approved Electronic Platform”).  (b) Although the Approved Electronic Platform and its primary web portal are secured  with generally-applicable security procedures and policies implemented or modified by the  Administrative Agent from time to time (including, as of the Effective Date, a user ID/password  authorization system) and the Approved Electronic Platform is secured through a per-deal  authorization method whereby each user may access the Approved Electronic Platform only on  a deal-by-deal basis, each of the Lenders, each of the Issuing Bank and the Borrower  acknowledges and agrees that the distribution of material through an electronic medium is not  necessarily secure, that the Administrative Agent is not responsible for approving or vetting the  representatives or contacts of any Lender that are added to the Approved Electronic Platform,  and that there may be confidentiality and other risks associated with such distribution. Each of  the Lenders, each of the Issuing Bank and the Borrower hereby approves distribution of the  Communications through the Approved Electronic Platform and understands and assumes the  risks of such distribution.  (c) THE APPROVED ELECTRONIC PLATFORM AND THE  COMMUNICATIONS ARE PROVIDED “AS IS” AND “AS AVAILABLE”. THE  APPLICABLE PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY  OR COMPLETENESS OF THE COMMUNICATIONS, OR THE ADEQUACY OF THE  APPROVED ELECTRONIC PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR  ERRORS OR OMISSIONS IN THE APPROVED ELECTRONIC PLATFORM AND THE  COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR  STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR  A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR  FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY THE  APPLICABLE PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE  APPROVED ELECTRONIC PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE  

 

   116  #153723541_v10  AGENT, ANY ARRANGER, ANY CO-DOCUMENTATION AGENT, ANY SYNDICATION  AGENT OR ANY OF THEIR RESPECTIVE RELATED PARTIES (COLLECTIVELY,  “APPLICABLE PARTIES”) HAVE ANY LIABILITY TO ANY LOAN PARTY, ANY  LENDER, ANY ISSUING BANK OR ANY OTHER PERSON OR ENTITY 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 THE  ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH  THE INTERNET OR THE APPROVED ELECTRONIC PLATFORM.  “Communications” means, collectively, any notice, demand, communication, information,  document or other material provided by or on behalf of any Loan Party pursuant to any Loan  Document or the transactions contemplated therein which is distributed by the Administrative  Agent, any Lender or any Issuing Bank by means of electronic communications pursuant to this  Section, including through an Approved Electronic Platform.    (d) Each Lender and Issuing Bank agrees that notice to it (as provided in the next  sentence) specifying that Communications have been posted to the Approved Electronic  Platform shall constitute effective delivery of the Communications to such Lender for purposes  of the Loan Documents.  Each Lender and Issuing Bank agrees (i) to notify the Administrative  Agent in writing (which could be in the form of electronic communication) from time to time of  such Lender’s or Issuing Bank’s (as applicable) email address to which the foregoing notice may  be sent by electronic transmission and (ii) that the foregoing notice may be sent to such email  address.  (e) Each of the Lenders, each of the Issuing Bank and the Borrower agrees that the  Administrative Agent may, but (except as may be required by applicable law) shall not be  obligated to, store the Communications on the Approved Electronic Platform in accordance with  the Administrative Agent’s generally applicable document retention procedures and policies.  (f) Nothing herein shall prejudice the right of the Administrative Agent, any Lender or  any Issuing Bank to give any notice or other communication pursuant to any Loan Document in  any other manner specified in such Loan Document.  SECTION 8.04 The Administrative Agent Individually.  With respect to its  Commitment, Loans (including Swingline Loans) and Letters of Credit, the Person serving as the  Administrative Agent shall have and may exercise the same rights and powers hereunder and is  subject to the same obligations and liabilities as and to the extent set forth herein for any other  Lender or Issuing Bank, as the case may be.  The terms “Issuing Bank”, “Lenders”, “Required  Lenders” and any similar terms shall, unless the context clearly otherwise indicates, include the  Administrative Agent in its individual capacity as a Lender, Issuing Bank or as one of the Required  Lenders, as applicable. The Person serving as the Administrative Agent and its Affiliates may  accept deposits from, lend money to, own securities of, act as the financial advisor or in any other  advisory capacity for and generally engage in any kind of banking, trust or other business with,  any Loan Party, any Subsidiary or any Affiliate of any of the foregoing as if such Person was not  acting as the Administrative Agent and without any duty to account therefor to the Lenders or the  Issuing Bank.  

 

   117  #153723541_v10  SECTION 8.05 Successor Administrative Agent.    (a) The Administrative Agent may resign at any time by giving 30 days’ prior written  notice thereof to the Lenders, the Issuing Bank and the Borrower, whether or not a successor  Administrative Agent has been appointed. Upon any such resignation, the Required Lenders  shall have the right to appoint a successor Administrative Agent.  If no successor Administrative  Agent shall have been so appointed by the Required Lenders, and shall have accepted such  appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of  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.  In either case, such appointment shall be  subject to the prior written approval of the Borrower (which approval may not be unreasonably  withheld and shall not be required while an Event of Default has occurred and is continuing).   Upon the acceptance of any appointment as Administrative Agent by a successor Administrative  Agent, such successor Administrative Agent shall succeed to, and become vested with, all the  rights, powers, privileges and duties of the retiring Administrative Agent. Upon the acceptance  of appointment as Administrative Agent by a successor Administrative Agent, the retiring  Administrative Agent shall be discharged from its duties and obligations under this Agreement  and the other Loan Documents. Prior to any retiring Administrative Agent’s resignation  hereunder as Administrative Agent, the retiring Administrative Agent shall take such action as  may be reasonably necessary to assign to the successor Administrative Agent its rights as  Administrative Agent under the Loan Documents.  (b) Notwithstanding paragraph (a) of this Section, in the event no successor  Administrative Agent shall have been so appointed and shall have accepted such appointment  within thirty (30) days after the retiring Administrative Agent gives notice of its intent to resign,  the retiring Administrative Agent may give notice of the effectiveness of its resignation to the  Lenders, the Issuing Bank and the Borrower, whereupon, on the date of effectiveness of such  resignation stated in such notice, (i) the retiring Administrative Agent shall be discharged from  its duties and obligations hereunder and under the other Loan Documents; provided that, solely  for purposes of maintaining any security interest granted to the Administrative Agent under any  Collateral Document 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 continue to be entitled to the rights set forth in such Collateral Document  and Loan Document, and, in the case of any Collateral in the possession of the Administrative  Agent, shall continue to hold such Collateral, in each case until such time as a successor  Administrative Agent is appointed and accepts such appointment in accordance with this Section  (it being understood and agreed that the retiring Administrative Agent shall have no duty or  obligation to take any further action under any Security Document, including any action required  to maintain the perfection of any such security interest),  and (ii) the Required Lenders shall  succeed to and become vested with all the rights, powers, privileges and duties of the retiring  Administrative Agent; provided that (A) all payments required to be made hereunder or under  any other Loan Document to the Administrative Agent for the account of any Person other than  the Administrative Agent shall be made directly to such Person and (B) all notices and other  communications required or contemplated to be given or made to the Administrative Agent shall  directly be given or made to each Lender and Issuing Bank.  Following the effectiveness of the  Administrative Agent’s resignation from its capacity as such, the provisions of this Article,  

 

   118  #153723541_v10  Section 2.17(d) and Section 9.03, as well as any exculpatory, reimbursement and indemnification  provisions set forth in any other Loan Document, shall continue in effect for the benefit of such  retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of  any actions taken or omitted to be taken by any of them while the retiring Administrative Agent  was acting as Administrative Agent and in respect of the matters referred to in the proviso under  clause (a) above.  SECTION 8.06 Acknowledgements of Lenders and Issuing Bank.      (a) Each Lender represents that it is engaged in making, acquiring or holding  commercial loans in the ordinary course of its business and that it has, independently and without  reliance upon the Administrative Agent, any Arranger, any Syndication Agent, any Co- Documentation Agent, or any other Lender, or any of the Related Parties of any of the foregoing,  and based on such documents and information as it has deemed appropriate, made its own credit  analysis and decision to enter into this Agreement as a Lender, and to make, acquire or hold  Loans hereunder.  Each Lender also acknowledges that it will, independently and without  reliance upon the Administrative Agent, any Arranger, any Syndication Agent, any Co- Documentation Agent, or any other Lender, or any of the Related Parties of any of the foregoing,  and based on such documents and information (which may contain material, non-public  information within the meaning of the United States securities laws concerning the Borrower  and its Affiliates) 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.  (b) Each Lender, by delivering its signature page to this Agreement on the Effective  Date, or delivering its signature page to an Assignment and Assumption or any other Loan  Document pursuant to which it shall become a Lender hereunder, shall be deemed to have  acknowledged receipt of, and consented to and approved, each Loan Document and each other  document required to be delivered to, or be approved by or satisfactory to, the Administrative  Agent or the Lenders on the Effective Date or the effective date of any such Assignment and  Assumption or any other Loan Document pursuant to which it shall have become a Lender  hereunder.  (c) Each Lender hereby agrees that (i) it has requested a copy of each Report prepared  by or on behalf of the Administrative Agent; (ii) the Administrative Agent (A) makes no  representation or warranty, express or implied, as to the completeness or accuracy of any Report  or any of the information contained therein or any inaccuracy or omission contained in or relating  to a Report and (B) shall not be liable for any information contained in any Report; (iii) the  Reports are not comprehensive audits or examinations, and that any Person performing any field  examination will inspect only specific information regarding the Loan Parties and will rely  significantly upon the Loan Parties’ books and records, as well as on representations of the Loan  Parties’ personnel and that the Administrative Agent undertakes no obligation to update, correct  or supplement the Reports; (iv) it will keep all Reports confidential and strictly for its internal  use, not share the Report with any Loan Party or any other Person except as otherwise permitted  pursuant to this Agreement; and (v) without limiting the generality of any other indemnification  provision contained in this Agreement, (A) it will hold the Administrative Agent and any such  other Person preparing a Report harmless from any action the indemnifying Lender may take or  

 

   119  #153723541_v10  conclusion the indemnifying Lender may reach or draw from any Report in connection with any  extension of credit that the indemnifying Lender has made or may make to the Borrower, or the  indemnifying Lender’s participation in, or the indemnifying Lender’s purchase of, a Loan or  Loans; and (B) it will pay and protect, and indemnify, defend, and hold the Administrative Agent  and any such other Person preparing a Report harmless from and against, the claims, actions,  proceedings, damages, costs, expenses, and other amounts (including reasonable attorneys’ fees)  incurred by the Administrative Agent or any such other Person as the direct or indirect result of  any third parties who might obtain all or part of any Report through the indemnifying Lender.  (d) (i) Each Lender hereby agrees that (x) if the Administrative Agent notifies such  Lender that the Administrative Agent has determined in its sole discretion that any funds  received by such Lender from the Administrative Agent or any of its Affiliates (whether as a  payment, prepayment or repayment of principal, interest, fees or otherwise; individually and  collectively, a “Payment”) were erroneously transmitted to such Lender (whether or not known  to such Lender), and demands the return of such Payment (or a portion thereof), such Lender  shall promptly, but in no event later than one Business Day thereafter, return to the  Administrative Agent the amount of any such Payment (or portion thereof) as to which such a  demand was made in same day funds, together with interest thereon in respect of each day from  and including the date such Payment (or portion thereof) was received by such Lender to the  date such amount is repaid to the Administrative Agent at the greater of the NYFRB Rate and a  rate determined by the Administrative Agent in accordance with banking industry rules on  interbank compensation from time to time in effect, and (y) to the extent permitted by applicable  law, such Lender shall not assert, and hereby waives, as to the Administrative Agent, any claim,  counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or  counterclaim by the Administrative Agent for the return of any Payments received, including  without limitation any defense based on “discharge for value” or any similar doctrine.  A notice  of the Administrative Agent to any Lender under this Section 8.06(c) shall be conclusive, absent  manifest error.  (ii) Each Lender hereby further agrees that if it receives a Payment from the  Administrative Agent or any of its Affiliates (x) that is in a different amount than, or on  a different date from, that specified in a notice of payment sent by the Administrative  Agent (or any of its Affiliates) with respect to such Payment (a “Payment Notice”) or (y)  that was not preceded or accompanied by a Payment Notice, it shall be on notice, in each  such case, that an error has been made with respect to such Payment.  Each Lender agrees  that, in each such case, or if it otherwise becomes aware a Payment (or portion thereof)  may have been sent in error, such Lender shall promptly notify the Administrative Agent  of such occurrence and, upon demand from the Administrative Agent, it shall promptly,  but in no event later than one Business Day thereafter, return to the Administrative Agent  the amount of any such Payment (or portion thereof) as to which such a demand was  made in same day funds, together with interest thereon in respect of each day from and  including the date such Payment (or portion thereof) was received by such Lender to the  date such amount is repaid to the Administrative Agent at the greater of the NYFRB Rate  and a rate determined by the Administrative Agent in accordance with banking industry  rules on interbank compensation from time to time in effect.  

 

   120  #153723541_v10  (iii) The Borrower and each other Loan Party hereby agrees that (x) in the event an  erroneous Payment (or portion thereof) are not recovered from any Lender that has  received such Payment (or portion thereof) for any reason, the Administrative Agent shall  be subrogated to all the rights of such Lender with respect to such amount and (y) an  erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any  Obligations owed by the Borrower or any other Loan Party.  (iv) Each party’s obligations under this Section 8.06(c) shall survive the resignation or  replacement of the Administrative Agent or any transfer of rights or obligations by, or  the replacement of, a Lender, the termination of the Commitments or the repayment,  satisfaction or discharge of all Obligations under any Loan Document.  SECTION 8.07 Collateral Matters.  (a) Except with respect to the exercise of setoff rights in accordance with Section 9.08  or with respect to a Secured Party’s right to file a proof of claim in an insolvency proceeding, no  Secured Party shall have any right individually to realize upon any of the Collateral or to enforce  any Guarantee of the Secured Obligations, it being understood and agreed that all powers, rights  and remedies under the Loan Documents may be exercised solely by the Administrative Agent  on behalf of the Secured Parties in accordance with the terms thereof.  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 UCC.  In the event that any Collateral is hereafter pledged by  any Person as collateral security for the Secured 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 Collateral in favor of the Administrative Agent on behalf of the Secured Parties.    (b) In furtherance of the foregoing and not in limitation thereof, no arrangements in  respect of Banking Services the obligations under which constitute Secured Obligations and no  Swap Agreement the obligations under which constitute Secured Obligations, will create (or be  deemed to create) in favor of any Secured Party that is a party thereto any rights in connection  with the management or release of any Collateral or of the obligations of any Loan Party under  any Loan Document.  By accepting the benefits of the Collateral, each Secured Party that is a  party to any such arrangement in respect of Banking Services or Swap Agreement, as applicable,  shall be deemed to have appointed the Administrative Agent to serve as administrative agent and  collateral agent under the Loan Documents and agreed to be bound by the Loan Documents as a  Secured Party thereunder, subject to the limitations set forth in this paragraph.   (c) The Secured Parties irrevocably authorize the Administrative Agent, at its option  and in its discretion, to subordinate any Lien on any property granted to or held by the  Administrative Agent under any Loan Document to the holder of any Lien on such property that  is permitted by Section 6.02(b). The Administrative Agent shall not be responsible for or have a  duty to ascertain or inquire into any representation or warranty regarding the existence, value or  collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s  Lien thereon or any certificate prepared by any Loan Party in connection therewith, nor shall the  Administrative Agent be responsible or liable to the Lenders or any other Secured Party for any  failure to monitor or maintain any portion of the Collateral.  

 

   121  #153723541_v10  SECTION 8.08 Credit Bidding.  The Secured Parties hereby irrevocably authorize  the Administrative Agent, at the direction of the Required Lenders, to credit bid all or any portion  of the Obligations (including by accepting some or all of the Collateral in satisfaction of some or  all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner  purchase (either directly or through one or more acquisition vehicles) all or any portion of the  Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code, including  under Sections 363, 1123 or 1129 of the Bankruptcy Code, or any similar laws in any other  jurisdictions to which a Loan Party is subject, or (b) at any other sale, foreclosure or acceptance of  collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative  Agent (whether by judicial action or otherwise) in accordance with any applicable law.  In  connection with any such credit bid and purchase, the Obligations owed to the Secured Parties  shall be entitled to be, and shall be, credit bid by the Administrative Agent at the direction of the  Required Lenders on a ratable basis (with Obligations with respect to contingent or unliquidated  claims receiving contingent interests in the acquired assets on a ratable basis that shall vest upon  the liquidation of such claims in an amount proportional to the liquidated portion of the contingent  claim amount used in allocating the contingent interests) for  the asset or assets so purchased (or  for the equity interests or debt instruments of the acquisition vehicle or vehicles that are issued in  connection with such purchase).  In connection with any such bid (i) the Administrative Agent  shall be authorized to form one or more acquisition vehicles and to assign any successful credit  bid to such acquisition vehicle or vehicles (ii) each of the Secured Parties’ ratable interests in the  Obligations which were credit bid shall be deemed without any further action under this  Agreement to be assigned to such vehicle or vehicles for the purpose of closing such sale, (iii) the  Administrative Agent shall be authorized to adopt documents providing for the governance of the  acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect  to such acquisition vehicle or vehicles, including any disposition of the assets or equity interests  thereof, shall be governed, directly or indirectly, by, and the governing documents shall provide  for, control by the vote of the Required Lenders or their permitted assignees under the terms of  this Agreement or the governing documents of the applicable acquisition vehicle or vehicles, as  the case may be, irrespective of the termination of this Agreement and without giving effect to the  limitations on actions by the Required Lenders contained in Section 9.02 of this Agreement), (iv)  the Administrative Agent on behalf of such acquisition vehicle or vehicles shall be authorized to  issue to each of the Secured Parties, ratably on account of the relevant Obligations which were  credit bid, interests, whether as equity, partnership interests, limited partnership interests or  membership interests, in any such acquisition vehicle  and/or debt instruments issued by such  acquisition vehicle, all without the need for any Secured Party or acquisition vehicle to take any  further action, and (v) to the extent that Obligations that are assigned to an acquisition vehicle are  not used to acquire Collateral for any reason (as a result of another bid being higher or better,  because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of  Obligations credit bid by the acquisition vehicle or otherwise), such Obligations shall  automatically be reassigned to the Secured Parties pro rata with their original interest in such  Obligations and the equity interests and/or debt instruments issued by any acquisition vehicle on  account of such Obligations shall automatically be cancelled, without the need for any Secured  Party or any acquisition vehicle to take any further action.  Notwithstanding that the ratable portion  of the Obligations of each Secured Party are deemed assigned to the acquisition vehicle or vehicles  as set forth in clause (ii) above, each Secured Party shall execute such documents and provide such  information regarding the Secured Party (and/or any designee of the Secured Party which will  

 

   122  #153723541_v10  receive interests in or debt instruments issued by such acquisition vehicle) as the Administrative  Agent may reasonably request in connection with the formation of any acquisition vehicle, the  formulation or submission of any credit bid or the consummation of the transactions contemplated  by such credit bid.  SECTION 8.09 Certain ERISA Matters.      (a) Each Lender (x) represents and warrants, as of the date such Person became a  Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party  hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the  Administrative Agent and its respective Affiliates, and not, for the avoidance of doubt, to or for  the benefit of the Borrower or any other Loan Party, that at least one of the following is and will  be true:  (i) such Lender is not using “plan assets” (within the meaning of the  Plan Asset Regulations) of one or more Benefit Plans in connection with the Loans,  the Letters of Credit or the Commitments,  (ii) the transaction exemption set forth in one or more PTEs, such as  PTE 84-14 (a class exemption for certain transactions determined by independent  qualified professional asset managers), PTE 95-60 (a class exemption for certain  transactions involving insurance company general accounts), PTE 90-1 (a class  exemption for certain transactions involving insurance company pooled separate  accounts), PTE 91-38 (a class exemption for certain transactions involving bank  collective investment funds) or PTE 96-23 (a class exemption for certain  transactions determined by in-house asset managers), is applicable with respect to  such Lender’s entrance into, participation in, administration of and performance of  the Loans, the Letters of Credit, the Commitments and this Agreement,   (iii) (A) such Lender is an investment fund managed by a “Qualified  Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B)  such Qualified Professional Asset Manager made the investment decision on behalf  of such Lender to enter into, participate in, administer and perform the Loans, the  Letters of Credit, the Commitments and this Agreement, (C) the entrance into,  participation in, administration of and performance of the Loans, the Letters of  Credit, the Commitments and this Agreement satisfies the requirements of sub- sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of  such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied  with respect to such Lender’s entrance into, participation in, administration of and  performance of the Loans, the Letters of Credit, the Commitments and this  Agreement, or  (iv) such other representation, warranty and covenant as may be agreed  in writing between the Administrative Agent, in its sole discretion, and such  Lender.  

 

   123  #153723541_v10  (b) In addition, unless sub-clause (i) in the immediately preceding clause (a) is true  with respect to a Lender or such Lender has not provided another representation, warranty and  covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender  further (x) represents and warrants, as of the date such Person became a Lender party hereto, to,  and (y) covenants, from the date such Person became a Lender party hereto to the date such  Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and its  respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or  any other Loan Party, that none of the Administrative Agent, or any Arranger, any Syndication  Agent, any Co-Documentation Agent or any of their respective Affiliates is a fiduciary with  respect to the Collateral or the assets of such Lender (including in connection with the reservation  or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document  or any documents related to hereto or thereto).  (c) The Administrative Agent and each Arranger, Syndication Agent and Co- Documentation Agent hereby informs the Lenders that each such Person is not undertaking to  provide investment advice or to give advice in a fiduciary capacity, in connection with the  transactions contemplated hereby, and that such Person has a financial interest in the transactions  contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other  payments with respect to the Loans, the Letters of Credit, the Commitments, this Agreement and  any other Loan Documents (ii) may recognize a gain if it extended the Loans, the Letters of  Credit or the Commitments for an amount less than the amount being paid for an interest in the  Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or  other payments in connection with the transactions contemplated hereby, the Loan Documents  or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees,  upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent  fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or  alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s  acceptance fees, breakage or other early termination fees or fees similar to the foregoing  SECTION 8.10 Flood Laws. JPM has adopted internal policies and procedures that  address requirements placed on federally regulated lenders under the National Flood Insurance  Reform Act of 1994 and related legislation (the “Flood Laws”).  JPM, as administrative agent or  collateral agent on a syndicated facility, will post on the applicable electronic platform (or  otherwise distribute to each Lender in the syndicate) documents that it receives in connection with  the Flood Laws.  However, JPM reminds each Lender and Participant in the facility that, pursuant  to the Flood Laws, each federally regulated Lender (whether acting as a Lender or Participant in  the facility) is responsible for assuring its own compliance with the flood insurance requirements.    ARTICLE IX  Miscellaneous  SECTION 9.01 Notices.  (a) Except in the case of notices and other communications expressly permitted to be  given by telephone or Electronic Systems (and subject in each case to paragraph (b) below), all  notices and other communications provided for herein shall be in writing and shall be delivered  

 

   124  #153723541_v10  by hand or overnight courier service, mailed by certified or registered mail or sent by fax or other  electronic communication, as follows:  (i) if to any Loan Party, to it in care of the Borrower at:    c/o Cantaloupe, Inc.  100 Deerfield Lane  Suite 300  Malvern, PA 19355  Attention:  Chief Financial Officer  Telephone: 800-633-0340  Fax: 610-989-0344        With a copy to:    King & Spalding  1185 Avenue of the Americas  34th Floor  New York, NY 10036  Attention:  Ellen M. Snare  Fax No.: 212-556-2222    (ii) if to the Administrative Agent, the Swingline Lender, or JPM in its capacity  as the Issuing Bank, to JPMorgan Chase Bank, N.A. at:  JPMorgan Chase Bank, N.A.  Middle Market Technology Banking  237 Park Avenue, 6th Floor  New York, NY 10017  Attention: Ted Karsos  Email: ted.karsos@jpmorgan.com  (iii) if to any other Lender or Issuing Bank, to it at its address or fax number set  forth in its Administrative Questionnaire.  All such notices and other communications (i) sent by hand or overnight courier service, or mailed  by certified or registered mail shall be deemed to have been given when received, (ii) sent by fax  shall be deemed to have been given when sent, provided that if not given during normal business  hours for the recipient, such notice or communication shall be deemed to have been given at the  opening of business on the next Business Day of the recipient, or (iii) delivered through Electronic  Systems or Approved Electronic Platforms, as applicable, to the extent provided in paragraph (b)  below shall be effective as provided in such paragraph.  (b) Notices and other communications to the Lenders hereunder may be delivered or  furnished by using Electronic Systems or Approved Electronic Platforms, as applicable, or  pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall  not apply to notices pursuant to Article II or to compliance and no Default certificates delivered  

 

   125  #153723541_v10  pursuant to Section 5.01(c) unless otherwise agreed by the Administrative Agent and the  applicable Lender.  Each of the Administrative Agent and the Borrower (on behalf of the Loan  Parties) may, in its discretion, agree to accept notices and other communications to it hereunder  by using Electronic Systems or Approved Electronic Platforms, as applicable, pursuant to  procedures approved by it; provided that approval of such procedures may be limited to  particular notices or communications.  Unless the Administrative Agent otherwise proscribes,  all such notices and other communications (i) 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 not given during the normal business hours of the recipient,  such notice or communication shall be deemed to have been given at the opening of business on  the next Business Day for the recipient, and (ii) 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; provided that, for both clauses (i) and (ii)  above, if such notice, e-mail 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 of the recipient.  (c) Any party hereto may change its address, facsimile number or e-mail address for  notices and other communications hereunder by notice to the other parties hereto.  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 any other Loan  Document 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 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) Subject to Section 2.14(b), Section 2.14(c) and Section 9.02(c) below, neither this  Agreement nor any other Loan Document nor any provision hereof or thereof may be waived,  amended or modified except (i) in the case of this Agreement, pursuant to an agreement or  agreements in writing entered into by the Borrower and the Required Lenders (unless otherwise  expressly provided) or (ii) in the case of any other Loan Document, pursuant to an agreement or  agreements in writing entered into by the Administrative Agent and the Loan Party or Loan  Parties that are parties thereto, with the consent of the Required Lenders (unless otherwise  expressly provided); provided that no such agreement shall (A) increase the Commitment of any  

 

   126  #153723541_v10  Lender without the written consent of such Lender (including any such Lender that is a  Defaulting Lender), (B) reduce or forgive the principal amount of any Loan or LC Disbursement  or reduce the rate of interest thereon (subject to Section 2.13(c)), or reduce or forgive any interest  or fees payable hereunder (subject to Section 2.13(c)), without the written consent of each Lender  (including any such Lender that is a Defaulting Lender) directly affected thereby (except that  any amendment or modification of the financial covenants in this Agreement (or defined terms  used in the financial covenants in this Agreement) shall not constitute a reduction in the rate of  interest or fees for purposes of this clause (B)), (C) postpone any scheduled date of payment of  the principal amount of any Loan or LC Disbursement, or any date for the payment of any  interest, fees or other Obligations 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 (including any such Lender that is a Defaulting Lender)  directly affected thereby, (D) change Section 2.18(b) or (d) in a manner that would alter the  manner in which payments are shared, without the written consent of each Lender (other than  any Defaulting Lender), (E) change any of the provisions of this Section or the definition of  “Required Lenders” or any other provision of any Loan Document 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 (other than any Defaulting Lender) directly affected thereby, (F) change  Section 2.20, without the consent of each Lender (other than any Defaulting Lender), (G) release  any Guarantor from its obligation under its Loan Guaranty or Obligation Guaranty (except as  otherwise permitted herein or in the other Loan Documents), without the written consent of each  Lender (other than any Defaulting Lender), (H) permit any Loan Party to assign its obligations  under the Loan Documents, or (I) except as provided in clause (c) of this Section or in any  Collateral Document, release all or substantially all of the Collateral without the written consent  of each Lender (other than any Defaulting Lender); provided further that no such agreement shall  amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Swingline  Lender or the Issuing Bank hereunder without the prior written consent of the Administrative  Agent, the Swingline Lender or the Issuing Bank, as the case may be (it being understood that  any amendment to Section 2.20 shall require the consent of the Administrative Agent, the  Swingline Lender and the Issuing Bank); provided further that no such agreement shall amend  or modify the provisions of Section 2.07 or any letter of credit application and any bilateral  agreement between the Borrower and the Issuing Bank regarding the Issuing Bank’s Issuing  Bank Sublimit or the respective rights and obligations between the Borrower and the Issuing  Bank in connection with the issuance of Letters of Credit without the prior written consent of  the Administrative Agent and the Issuing Bank, respectively.  The Administrative Agent may  also amend the Commitment Schedule to reflect assignments entered into pursuant to Section  9.04. Any amendment, waiver or other modification of this Agreement or any other Loan  Document that by its terms affects the rights or duties under this Agreement of the Lenders of  one or more Classes (but not the Lenders of any other Class), may be effected by an agreement  or agreements in writing entered into by the Borrower and the requisite number or percentage in  interest of each affected Class of Lenders that would be required to consent thereto under this  Section if such Class of Lenders were the only Class of Lenders hereunder at the time.  (c) The Lenders and the Issuing Bank 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 Collateral (i) upon the Payment in Full of all Secured  

 

   127  #153723541_v10  Obligations, and the cash collateralization of all Unliquidated Obligations in a manner  satisfactory to each affected Lender, (ii) constituting property being sold or disposed of if the  Loan Party disposing of such property 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), and to the extent  that the property being sold or disposed of constitutes 100% of the Equity Interests of a  Subsidiary, the Administrative Agent is authorized to release any Loan Guaranty or Obligation  Guaranty provided by such Subsidiary, (iii) constituting property leased to a Loan Party under a  lease which has expired or been terminated in a transaction permitted under this Agreement, or  (iv) as required to effect any sale or other disposition of such Collateral in connection with any  exercise of remedies of the Administrative Agent and the Lenders pursuant to Article VII.   Except as provided in the preceding sentence, the Administrative Agent will not release any  Liens on Collateral without the prior written authorization of the Required Lenders; provided  that the Administrative Agent may, in its discretion, release its Liens on Collateral valued in the  aggregate not in excess of $500,000 during any calendar year without the prior written  authorization of the Required Lenders (it being agreed that the Administrative Agent may rely  conclusively on one or more certificates of the Borrower as to the value of any Collateral to be  so released, without further inquiry).  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 Collateral. Any  execution and delivery by the Administrative Agent of documents in connection with any such  release shall be without recourse to or warranty by the Administrative Agent.  (d) If, in connection with any proposed amendment, waiver or consent requiring the  consent of “each Lender” or “each Lender 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 necessary but has not been obtained being referred to herein as a “Non-Consenting  Lender”), then the Borrower may 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 the Borrower, the Administrative Agent and the Issuing  Bank 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, and (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.   Each party hereto agrees that an assignment required pursuant to this paragraph may be effected  pursuant to an Assignment and Assumption executed by the Borrower, the Administrative Agent  and the assignee (or, to the extent applicable, an agreement incorporating an Assignment and  Assumption by reference pursuant to an Approved Electronic Platform as to which the  Administrative Agent and such parties are participants), and the Lender required to make such  

 

   128  #153723541_v10  assignment need not be a party thereto in order for such assignment to be effective and shall be  deemed to have consented to an be bound by the terms thereof; provided that, following the  effectiveness of any such assignment, the other parties to such assignment agree to execute and  deliver such documents necessary to evidence such assignment as reasonably requested by the  applicable Lender, provided that any such documents shall be without recourse to or warranty  by the parties thereto.  (e) Notwithstanding anything to the contrary herein the Administrative Agent may,  with the consent of the Borrower only, amend, modify or supplement this Agreement or any of  the other Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency.  SECTION 9.03 Expenses; Indemnity; Damage Waiver.  (a) The Loan Parties, jointly and severally, shall pay all (i) reasonable and documented  out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the  reasonable and documented 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 an Electronic System or Approved Electronic Platform) of the credit facilities  provided for herein, the preparation and administration of the Loan Documents and any  amendments, modifications or waivers of the provisions of the Loan Documents (whether or not  the transactions contemplated hereby or thereby shall be consummated), (ii) 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 and (iii) documented out-of-pocket expenses incurred by the Administrative Agent,  the Issuing Bank or any Lender, including the fees, charges and disbursements of any counsel,  professionals and other advisors for the Administrative Agent, the Issuing Bank or any Lender,  in connection with the enforcement, collection or protection of its rights in connection with the  Loan Documents, 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; provided,  that with respect to any action brought by the Administrative Agent, any Lender or the Issuing  Bank in connection with the enforcement, collection or protection of its rights under the Loan  Documents, with respect to the payment of legal fees, the Borrower shall only be responsible for  the legal fees of one counsel to the Administrative Agent, the Lenders and the Issuing Bank (and,  in the event of any actual or perceived conflict of interest, one additional counsel to the affected  parties) and appropriate local counsel and regulatory counsel.  Expenses being reimbursed by  the Loan Parties under this Section include, without limiting the generality of the foregoing, fees,  costs and expenses incurred in connection with:  (A) appraisals and insurance reviews;  (B) field examinations and the preparation of Reports based on the fees  charged by a third party retained by the Administrative Agent or the internally allocated fees for  each Person employed by the Administrative Agent with respect to each field examination;  (C) background checks regarding senior management and/or key  investors, as deemed necessary or appropriate in the sole discretion of the Administrative Agent;  

 

   129  #153723541_v10  (D) Taxes, fees and other charges for (i) lien and title searches and title  insurance and (ii) recording the Mortgages, filing financing statements and continuations, and  other actions to perfect, protect, and continue the Administrative Agent’s Liens;  (E) sums paid or incurred to take any action required of any Loan Party  under the Loan Documents that such Loan Party fails to pay or take; and  (F) forwarding loan proceeds, collecting checks and other items of  payment, and establishing and maintaining the accounts and lock boxes, and costs and expenses  of preserving and protecting the Collateral.  All of the foregoing fees, costs and expenses may be charged to the Borrower as Revolving Loans  or to another deposit account, all as described in Section 2.18(c).  (b) The Loan Parties, jointly and severally, 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, penalties, incremental taxes, liabilities and related expenses,  including the fees, charges and disbursements of any counsel for any Indemnitee (subject to  Section 9.03(a)(iii) above), incurred by or asserted against any Indemnitee arising out of, in  connection with, or as a result of (i) the execution or delivery of the Loan Documents 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 actual or alleged presence or Release  of Hazardous Materials on or from any property owned or operated by a Loan Party or a  Subsidiary or Unrestricted Subsidiary, or any Environmental Liability related in any way to a  Loan Party or a Subsidiary or Unrestricted Subsidiary or (iv) any actual or prospective claim,  litigation, investigation, arbitration or proceeding relating to any of the foregoing, whether or not  such claim, litigation, investigation, arbitration or proceeding is brought by any Loan Party or  their respective equity holders, Affiliates, creditors or any other third Person and whether based  on contract, tort or any other theory 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, penalties, liabilities or related expenses are determined by a court of  competent jurisdiction by final and nonappealable judgment to have resulted from the gross  negligence or willful misconduct of such Indemnitee. 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) Each Lender severally agrees to pay any amount required to be paid by any Loan  Party under paragraph (a) or (b) of this Section 9.03 to the Administrative Agent, the Swingline  Lender and Issuing Bank, and each Related Party of any of the foregoing Persons (each, an  “Agent Indemnitee”) (to the extent not reimbursed by the Loan Parties and without limiting the  obligation of any Loan Party to do so), ratably according to their respective Applicable  Percentage in effect on the date on which indemnification is sought under this Section (or, if  

 

   130  #153723541_v10  indemnification is sought after the date upon which the Commitments shall have terminated and  the Loans shall have been paid in full, ratably in accordance with such Applicable Percentage  immediately prior to such date), from and against any and all losses, claims, damages, liabilities  and related expenses, including the fees, charges and disbursements of any kind whatsoever that  may at any time (whether before or after the payment of the Loans) be imposed on, incurred by  or asserted against such Agent Indemnitee in any way relating to or arising out of the  Commitments, this Agreement, any of the other Loan Documents or any documents  contemplated by or referred to herein or therein or the transactions contemplated hereby or  thereby or any action taken or omitted by such Agent Indemnitee under or in connection with  any of the foregoing; 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 such  Agent Indemnitee in its capacity as such; provided further that no Lender shall be liable for the  payment of any portion of such liabilities, obligations, losses, damages, penalties, actions,  judgments, suits, costs, expenses or disbursements that are found by a final and non-appealable  decision of a court of competent jurisdiction to have resulted from such Agent Indemnitee’s  gross negligence or willful misconduct.  The agreements in this Section shall survive the  termination of this Agreement and the Payment in Full of the Secured Obligations.  (d) To the extent permitted by applicable law, no Loan Party shall assert, and each  Loan Party 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; provided that,  nothing in this paragraph (d) shall relieve any Loan Party of any obligation it may have to  indemnify an Indemnitee against special, indirect, consequential or punitive damages asserted  against such Indemnitee by a third party.  (e) All amounts due under this Section shall be payable not later than five (5) Business  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) the Borrower may not 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 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.  

 

   131  #153723541_v10  (b)(i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may  assign to one or more Persons (other than an Ineligible Institution) all or a portion of its rights and  obligations under this Agreement (including all or a portion of its Commitment, participations in  Letters of Credit and the Loans at the time owing to it) with the prior written consent (such consent  not to be unreasonably withheld) of:  (A) the Borrower, provided that the Borrower shall be deemed to have  consented to any such assignment unless it shall object thereto by written notice to the  Administrative Agent within five (5) Business Days after having received notice thereof, and  provided further that no consent of the Borrower 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, provided that no consent of the  Administrative Agent shall be required for an assignment of all or any portion of a Term Loan to  a Lender, an Affiliate of a Lender or an Approved Fund;  (C) the Issuing Bank, provided that no consent of the Issuing Bank shall  be required for an assignment of all or any portion of a Term Loan; and  (D) the Swingline Lender, provided that no consent of the Swingline  Lender shall be required for an assignment of all or any portion of a Term Loan.  (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 or, in the case of a Term Loan, $5,000,000 unless each of the Borrower and  the Administrative Agent otherwise consent, provided that no such consent of the Borrower 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 (x) an Assignment and Assumption or (y) to the extent applicable, an  agreement incorporating an Assignment and Assumption by reference pursuant to an Approved  Electronic Platform as to which the Administrative Agent and the parties to the Assignment and  Assumption are participants, together with a processing and recordation fee of $3,500; 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  

 

   132  #153723541_v10  more credit contacts to whom all syndicate-level information (which may contain material non- public information about the Borrower, the other Loan Parties 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 terms “Approved Fund” and “Ineligible  Institution” have the following meanings:  “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.  “Ineligible Institution” means a (a) natural person, (b) a Defaulting Lender or its Parent,  (c) holding company, investment vehicle or trust for, or owned and operated for the primary benefit  of, a natural person or relative(s) thereof; provided that, such holding company, investment vehicle  or trust shall not constitute an Ineligible Institution if it (x) has not been established for the primary  purpose of acquiring any Loans or Commitments, (y) is managed by a professional advisor, who  is not such natural person or a relative thereof, having significant experience in the business of  making or purchasing commercial loans, and (z) has assets greater than $25,000,000 and a  significant part of its activities consist of making or purchasing commercial loans and similar  extensions of credit in the ordinary course of its business; provided that upon the occurrence of an  Event of Default, any Person (other than a Lender) shall be an Ineligible Institution if after giving  effect to any proposed assignment to such Person, such Person would hold more than 25% of the  then outstanding Aggregate Credit Exposure or Commitments, as the case may be or (d) a Loan  Party or a Subsidiary or Unrestricted Subsidiary or other Affiliate of a Loan Party.  (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 a non-fiduciary agent  of 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 the Borrower, the Administrative Agent, the Issuing Bank and the Lenders shall  

 

   133  #153723541_v10  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 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 (x) a duly completed Assignment and Assumption  executed by an assigning Lender and an assignee or (y) to the extent applicable, an agreement  incorporating an Assignment and Assumption by reference pursuant to an Approved Electronic  Platform as to which the Administrative Agent and the parties to the Assignment and Assumption  are participants, 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,  2.06(d) or (e), 2.07(b), 2.18(d) 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 the Borrower, the Administrative Agent,  the Swingline Lender or the Issuing Bank, sell participations to one or more banks or other  entities (a “Participant”) other than an Ineligible Institution 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 (i) such Lender’s obligations under this Agreement shall  remain unchanged; (ii) such Lender shall remain solely responsible to the other parties hereto  for the performance of such obligations; and (iii) the Borrower, the Administrative Agent, the  Issuing Bank and the other Lenders 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 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.  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 Sections 2.17(f) and (g) (it being understood that the documentation required  under Section 2.17(f) shall be delivered to the participating Lender and the information and  documentation required under Section 2.17(g) will be delivered to the Borrower and the  Administrative Agent)) 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.  

 

   134  #153723541_v10  Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use  reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 2.19(b)  with respect to any Participant.  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 a non-fiduciary agent of the Borrower, maintain a register  on which it enters the name and address of each Participant and the principal amounts (and stated  interest) of each Participant’s interest in the Loans or other obligations under this Agreement or  any other Loan Document (the “Participant Register”); provided that no Lender shall have any  obligation to disclose all or any portion of the Participant Register (including the identity of any  Participant or any information relating to a Participant’s interest in any Commitments, Loans,  Letters of Credit or its other obligations under this Agreement or any Loan Document) to any  Person except to the extent that such disclosure is necessary to establish that such Commitment,  Loan, Letter of Credit or other obligation is in registered form under Section 5f.103-1(c) of the  United States Treasury Regulations.  The entries in the Participant Register shall be conclusive  absent manifest error, and such Lender shall treat each Person whose name is recorded in the  Participant Register as the owner of such participation for all purposes of this Agreement  notwithstanding any notice to the contrary.  For the avoidance of doubt, the Administrative Agent  (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant  Register.  (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 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 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; Electronic Execution.  (a)  This Agreement may be executed in counterparts (and by different parties hereto on different  

 

   135  #153723541_v10  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 (i) fees payable to the Administrative Agent and (ii) increases or  reductions of the Issuing Bank Sublimit of the Issuing Bank 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.  (b) Delivery of an executed counterpart of a signature page of this Agreement by  telecopy, emailed pdf. or any other electronic means that reproduces an image of the actual  executed signature page shall be effective as delivery of a manually executed counterpart of this  Agreement.  The words “execution,” “signed,” “signature,” “delivery,” and words of like import  in or relating to any document to be signed in connection with this Agreement and the  transactions contemplated hereby or thereby shall be deemed to include Electronic Signatures,  deliveries 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, physical delivery thereof or  the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided  for in any applicable law, including the Federal Electronic Signatures in Global and National  Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar  state laws based on the Uniform Electronic Transactions Act; provided that nothing herein shall  require the Administrative Agent to accept electronic signatures in any form or format without  its prior written consent.  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, 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 law, to set off and apply any  and all deposits (general or special, time or demand, provisional or final) at any time held, and  other obligations at any time owing, by such Lender, the Issuing Bank or any such Affiliate, to or  for the credit or the account of any Loan Party against any and all of the Secured Obligations owing  to such Lender or the Issuing Bank or their respective Affiliates, irrespective of whether or not  such Lender, Issuing Bank or Affiliate shall have made any demand under this Agreement or any  other Loan Document and although such obligations of the Loan Parties may be contingent or  unmatured or are owed to a branch office or Affiliate of such Lender or the Issuing Bank different  from the branch office or Affiliate holding such deposit or obligated on such indebtedness;  provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all  amounts so set off shall be paid over immediately to the Administrative Agent for further  application in accordance with the provisions of Section 2.20 and, pending such payment, shall be  

 

   136  #153723541_v10  segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit  of the Administrative Agent, the Issuing Bank, and the Lenders, and (y) the Defaulting Lender  shall provide promptly to the Administrative Agent a statement describing in reasonable detail the  Secured Obligations owing to such Defaulting Lender as to which it exercised such right of setoff.   The applicable Lender, the Issuing Bank or such Affiliate shall notify the Borrower and the  Administrative Agent of such setoff or application; provided that the failure to give such notice  shall not affect the validity of such setoff or application under this Section. The rights of each  Lender, 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.  SECTION 9.09 Governing Law; Jurisdiction; Consent to Service of Process.  (a) The Loan Documents (other than those containing a contrary express choice of law  provision) shall be governed by and construed in accordance with the internal laws of the State  of New York, but giving effect to federal laws applicable to national banks.  (b) Each of the Lenders and the Administrative Agent hereby irrevocably and  unconditionally agrees that, notwithstanding the governing law provisions of any applicable  Loan Document, any claims brought against the Administrative Agent by any Secured Party  relating to this Agreement, any other Loan Document, the Collateral or the consummation or  administration of the transactions contemplated hereby or thereby shall be construed in  accordance with and governed by the law of the State of New York.  (c) Each Loan Party hereby irrevocably and unconditionally submits, for itself and its  property, to the exclusive jurisdiction of any U.S. federal or New York state court sitting in New  York, New York in any action or proceeding arising out of or relating to any Loan Documents,  or for recognition or enforcement of any judgment, and each of the parties hereto hereby  irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding  may be heard and determined in such state court or, to the extent permitted by law, in such federal  court.  Each of the parties hereto agrees that a final judgment in any such action or proceeding  shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any  other manner provided by law.  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.  (d) Each Loan Party 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.  (e) 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  

 

   137  #153723541_v10  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 OR OTHER AGENT (INCLUDING  ANY 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 Governmental Authority (including any self-regulatory authority, such as the National  Association of Insurance Commissioners), (c) to the extent required by any Requirement of Law  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 hereunder or under 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 (x) any assignee of or Participant in, or any  prospective assignee of or Participant in, any of its rights or obligations under this Agreement or  (y) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction  relating to the Loan Parties and their obligations, (g) with the consent of the Borrower, 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, the Issuing Bank or any Lender on  a non-confidential basis from a source other than the Borrower.  For the purposes of this Section,  “Information” means all information received from the Borrower relating to the Borrower or its  business, other than any such information that is available to the Administrative Agent, the Issuing  Bank or any Lender on a non-confidential basis prior to disclosure by the Borrower and other than  information pertaining to this Agreement provided by arrangers to data service providers,  including league table providers, that serve the lending industry; provided that, in the case of  information received from 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  

 

   138  #153723541_v10  Information as provided in this Section shall be considered to have complied with its obligation to  do so if such Person has exercised the same degree of care to maintain the confidentiality of such  Information as such Person would accord to its own confidential information.  EACH LENDER ACKNOWLEDGES THAT INFORMATION (AS DEFINED IN  THIS SECTION 9.12) FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY  INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE  BORROWER, THE OTHER LOAN PARTIES AND THEIR RELATED PARTIES OR  THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED  COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC  INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC  INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE  LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.  ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND  AMENDMENTS, FURNISHED BY THE BORROWER OR THE ADMINISTRATIVE  AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS  AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY  CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWER,  THE LOAN PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE  SECURITIES.  ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER  AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS  ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE  INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION  IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE  LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.  SECTION 9.13 Several Obligations; Nonreliance; Violation of Law.  The respective  obligations of the Lenders hereunder are several and not joint and the failure of any Lender to  make any Loan or perform any of its obligations hereunder shall not relieve any other Lender from  any of its obligations hereunder.  Each Lender hereby represents that it is not relying on or looking  to any margin stock (as defined in Regulation U of the Board) for the repayment of the Borrowings  provided for herein.  Anything contained in this Agreement to the contrary notwithstanding,  neither the Issuing Bank nor any Lender shall be obligated to extend credit to the Borrower in  violation of any Requirement of Law.  SECTION 9.14 USA PATRIOT Act.  Each Lender that is subject to the  requirements of the USA PATRIOT Act hereby notifies each Loan Party that pursuant to the  requirements of the USA PATRIOT 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 USA PATRIOT Act.  SECTION 9.15 Disclosure.  Each Loan Party, each Lender and the Issuing Bank  hereby acknowledges and agrees that the Administrative Agent and/or its Affiliates from time to  time may hold investments in, make other loans to or have other relationships with, any of the  Loan Parties and their respective Affiliates.  

 

   139  #153723541_v10  SECTION 9.16 Appointment for Perfection.  Each Lender hereby appoints each  other Lender as its agent for the purpose of perfecting Liens, for the benefit of the Administrative  Agent and the Secured Parties, in assets which, in accordance with Article 9 of the UCC or any  other applicable law can be perfected only by possession or control.  Should any Lender (other  than the Administrative Agent) obtain possession or control of any such Collateral, such Lender  shall notify the Administrative Agent thereof, and, promptly upon the Administrative Agent’s  request therefor shall deliver such Collateral to the Administrative Agent or otherwise deal with  such Collateral in accordance with the Administrative Agent’s instructions.  SECTION 9.17 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 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 9.18 No Fiduciary Duty, etc.  The Borrower acknowledges and agrees,  and acknowledges its subsidiaries’ understanding, that no Credit Party will have any obligations  except those obligations expressly set forth herein and in the other Loan Documents and each  Credit Party is acting solely in the capacity of an arm’s length contractual counterparty to the  Borrower with respect to the Loan Documents and the transaction contemplated therein and not as  a financial advisor or a fiduciary to, or an agent of, the Borrower or any other person.  The  Borrower agrees that it will not assert any claim against any Credit Party based on an alleged  breach of fiduciary duty by such Credit Party in connection with this Agreement and the  transactions contemplated hereby.  Additionally, the Borrower acknowledges and agrees that no  Credit Party is advising the Borrower as to any legal, tax, investment, accounting, regulatory or  any other matters in any jurisdiction.  The Borrower shall consult with its own advisors concerning  such matters and shall be responsible for making its own independent investigation and appraisal  of the transactions contemplated hereby, and the Credit Parties shall have no responsibility or  liability to the Borrower with respect thereto.  The Borrower further acknowledges and agrees, and acknowledges its subsidiaries’  understanding, that each Credit Party, together with its affiliates, is a full service securities or  banking firm engaged in securities trading and brokerage activities as well as providing investment  banking and other financial services.  In the ordinary course of business, any Credit Party may  provide investment banking and other financial services to, and/or acquire, hold or sell, for its own  accounts and the accounts of customers, equity, debt and other securities and financial instruments  (including bank loans and other obligations) of, the Borrower and other companies with which the  Borrower may have commercial or other relationships.  With respect to any securities and/or  financial instruments so held by any Credit Party or any of its customers, all rights in respect of  

 

   140  #153723541_v10  such securities and financial instruments, including any voting rights, will be exercised by the  holder of the rights, in its sole discretion.  In addition, the Borrower acknowledges and agrees, and acknowledges its  subsidiaries’ understanding, that each Credit Party and its affiliates may be providing debt  financing, equity capital or other services (including financial advisory services) to other  companies in respect of which the Borrower may have conflicting interests regarding the  transactions described herein and otherwise.  No Credit Party will use confidential information  obtained from the Borrower by virtue of the transactions contemplated by the Loan Documents or  its other relationships with the Borrower in connection with the performance by such Credit Party  of services for other companies, and no Credit Party will furnish any such information to other  companies.  The Borrower also acknowledges that no Credit Party has any obligation to use in  connection with the transactions contemplated by the Loan Documents, or to furnish to the  Borrower, confidential information obtained from other companies.  SECTION 9.19 Marketing Consent.  The Borrower hereby authorizes JPM and its  affiliates (collectively, the “JPM Parties”), at their respective sole expense, but without any prior  approval by the Borrower, to publish such tombstones and give such other publicity to this  Agreement as each may from time to time determine in its sole discretion.  The foregoing  authorization shall remain in effect unless the Borrower notifies JPM in writing that such  authorization is revoked.  SECTION 9.20 Acknowledgement and Consent to Bail-In of EEA Financial  Institutions.  Notwithstanding anything to the contrary in any Loan Document or in any other  agreement, arrangement or understanding among any such parties, each party hereto acknowledges  that any liability of any EEA Financial Institution arising under any Loan Document may be  subject to the Write-Down and Conversion Powers of an EEA Resolution Authority and agrees  and consents to, and acknowledges and agrees to be bound by:  (a) the application of any Write-Down and Conversion Powers by an EEA Resolution  Authority to any such liabilities arising hereunder which may be payable to it by any party hereto  that is an EEA Financial Institution; and  (b) the effects of any Bail-In Action on any such liability, including, if applicable:  (i) a reduction in full or in part or cancellation of any such liability;  (ii) a conversion of all, or a portion of, such liability into shares or other  instruments of ownership in such EEA Financial Institution, its parent entity, or a bridge institution  that may be issued to it or otherwise conferred on it, and that such shares or other instruments of  ownership will be accepted by it in lieu of any rights with respect to any such liability under this  Agreement or any other Loan Document; or   (iii) the variation of the terms of such liability in connection with the exercise of  the Write-Down and Conversion Powers of any EEA Resolution Authority.  SECTION 9.21 Acknowledgement Regarding Any Supported QFCs. To the extent  that the Loan Documents provide support, through a guarantee or otherwise, for any agreement or  

 

   141  #153723541_v10  instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a “Supported  QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the  Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the  Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations  promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported  QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan  Documents and any Supported QFC may in fact be stated to be governed by the laws of the State  of New York and/or of the United States or any other state of the United States):  In the event a  Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a  proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the  benefit of such QFC Credit Support (and any interest and obligation in or under such Supported  QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or  such QFC Credit Support) from such Covered Party will be effective to the same extent as the  transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and  such QFC Credit Support (and any such interest, obligation and rights in property) were governed  by the laws of the United States or a state of the United States. In the event a Covered Party or a  BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special  Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such  Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are  permitted to be exercised to no greater extent than such Default Rights could be exercised under  the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed  by the laws of the United States or a state of the United States. Without limitation of the foregoing,  it is understood and agreed that rights and remedies of the parties with respect to a Defaulting  Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC  or any QFC Credit Support.  ARTICLE X  Loan Guaranty  SECTION 10.01 Guaranty.  Each Loan Guarantor (other than those that have  delivered a separate Guaranty) hereby agrees that it is jointly and severally liable for, and, as a  primary obligor and not merely as surety, absolutely, unconditionally and irrevocably guarantees  to the Secured Parties, the prompt payment when due, whether at stated maturity, upon acceleration  or otherwise, and at all times thereafter, of the Secured Obligations and all costs and expenses  including, without limitation, all court costs and reasonable attorneys’ and paralegals’ fees and  expenses paid or incurred by the Administrative Agent, the Issuing Bank and the Lenders in  endeavoring to collect all or any part of the Secured Obligations from, or in prosecuting any action  against, the Borrower, any Loan Guarantor or any other guarantor of all or any part of the Secured  Obligations (such costs and expenses, together with the Secured Obligations, collectively the  “Guaranteed Obligations”); provided, however, that the definition of “Guaranteed Obligations”  shall not create any guarantee by any Loan Guarantor of (or grant of security interest by any Loan  Guarantor to support, as applicable) any Excluded Swap Obligations of such Loan Guarantor for  purposes of determining any obligations of any Loan Guarantor). Each Loan Guarantor further  agrees that the Guaranteed Obligations may be extended or renewed in whole or in part without  notice to or further assent from it, and that it remains bound upon its guarantee notwithstanding  any such extension or renewal. All terms of this Loan Guaranty apply to and may be enforced by  

 

   142  #153723541_v10  or on behalf of any domestic or foreign branch or Affiliate of any Lender that extended any portion  of the Guaranteed Obligations.  SECTION 10.02 Guaranty of Payment.  This Loan Guaranty is a guaranty of payment  and not of collection. Each Loan Guarantor waives any right to require the Administrative Agent,  the Issuing Bank or any Lender to sue the Borrower, any Loan Guarantor, any other guarantor of,  or any other Person obligated for all or any part of the Guaranteed Obligations (each, an “Obligated  Party”), or otherwise to enforce its payment against any collateral securing all or any part of the  Guaranteed Obligations.  SECTION 10.03 No Discharge or Diminishment of Loan Guaranty.  (a) Except as otherwise provided for herein, the obligations of each Loan Guarantor  hereunder are unconditional and absolute and not subject to any reduction, limitation,  impairment or termination for any reason (other than the Payment in Full of the Guaranteed  Obligations), including:  (i) any claim of waiver, release, extension, renewal, settlement,  surrender, alteration, or compromise of any of the Guaranteed Obligations, by operation of law  or otherwise; (ii) any change in the corporate existence, structure or ownership of the Borrower  or any other Obligated Party liable for any of the Guaranteed Obligations; (iii) any insolvency,  bankruptcy, reorganization or other similar proceeding affecting any Obligated Party, or their  assets or any resulting release or discharge of any obligation of any Obligated Party; or (iv) the  existence of any claim, setoff or other rights which any Loan Guarantor may have at any time  against any Obligated Party, the Administrative Agent, the Issuing Bank, any Lender, or any  other Person, whether in connection herewith or in any unrelated transactions.  (b) The obligations of each Loan Guarantor hereunder are not subject to any defense  or setoff, counterclaim, recoupment, or termination whatsoever by reason of the invalidity,  illegality, or unenforceability of any of the Guaranteed Obligations or otherwise, or any  provision of applicable law or regulation purporting to prohibit payment by any Obligated Party,  of the Guaranteed Obligations or any part thereof.  (c) Further, the obligations of any Loan Guarantor hereunder are not discharged or  impaired or otherwise affected by: (i) the failure of the Administrative Agent, the Issuing Bank  or any Lender to assert any claim or demand or to enforce any remedy with respect to all or any  part of the Guaranteed Obligations; (ii) any waiver or modification of or supplement to any  provision of any agreement relating to the Guaranteed Obligations; (iii) any release, non- perfection, or invalidity of any indirect or direct security for the obligations of the Borrower for  all or any part of the Guaranteed Obligations or any obligations of any other Obligated Party  liable for any of the Guaranteed Obligations; (iv) any action or failure to act by the  Administrative Agent, the Issuing Bank or any Lender with respect to any collateral securing  any part of the Guaranteed Obligations; or (v) any default, failure or delay, willful or otherwise,  in the payment or performance of any of the Guaranteed Obligations, or any other circumstance,  act, omission or delay that might in any manner or to any extent vary the risk of such Loan  Guarantor or that would otherwise operate as a discharge of any Loan Guarantor as a matter of  law or equity (other than the Payment in Full of the Guaranteed Obligations).  

 

   143  #153723541_v10  SECTION 10.04 Defenses Waived.  To the fullest extent permitted by applicable law,  each Loan Guarantor hereby waives any defense based on or arising out of any defense of the  Borrower or any Loan Guarantor or the unenforceability of all or any part of the Guaranteed  Obligations from any cause, or the cessation from any cause of the liability of the Borrower, any  Loan Guarantor or any other Obligated Party, other than the Payment in Full of the Guaranteed  Obligations. Without limiting the generality of the foregoing, each Loan Guarantor irrevocably  waives acceptance hereof, presentment, demand, protest 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 any Obligated Party, or any other Person.  Each Loan Guarantor confirms  that it is not a surety under any state law and shall not raise any such law as a defense to its  obligations hereunder.  The Administrative Agent may, at its election, foreclose on any Collateral  held by it by one or more judicial or nonjudicial sales, accept an assignment of any such Collateral  in lieu of foreclosure or otherwise act or fail to act with respect to any collateral securing all or a  part of the Guaranteed Obligations, compromise or adjust any part of the Guaranteed Obligations,  make any other accommodation with any Obligated Party or exercise any other right or remedy  available to it against any Obligated Party, without affecting or impairing in any way the liability  of such Loan Guarantor under this Loan Guaranty, except to the extent the Guaranteed Obligations  have been Paid in Full.  To the fullest extent permitted by applicable law, each Loan Guarantor  waives any defense arising out of any such election even though that election may operate,  pursuant to applicable law, to impair or extinguish any right of reimbursement or subrogation or  other right or remedy of any Loan Guarantor against any Obligated Party or any security.  SECTION 10.05 Rights of Subrogation.  No Loan Guarantor will assert any right,  claim or cause of action, including, without limitation, a claim of subrogation, contribution or  indemnification that it has against any Obligated Party with respect to the Guaranteed Obligations,  or any collateral, until the Loan Parties and the Loan Guarantors have fully performed all their  obligations to the Administrative Agent, the Issuing Bank and the Lenders.  SECTION 10.06 Reinstatement; Stay of Acceleration.  If at any time any payment of  any portion of the Guaranteed Obligations (including a payment effected through exercise of a  right of setoff) is rescinded, or must otherwise be restored or returned upon the insolvency,  bankruptcy or reorganization of the Borrower or otherwise (including pursuant to any settlement  entered into by a Secured Party in its discretion), each Loan Guarantor’s obligations under this  Loan Guaranty with respect to that payment shall be reinstated at such time as though the payment  had not been made and whether or not the Administrative Agent, the Issuing Bank and the Lenders  are in possession of this Loan Guaranty. If acceleration of the time for payment of any of the  Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of the  Borrower, all such amounts otherwise subject to acceleration under the terms of any agreement  relating to the Guaranteed Obligations shall nonetheless be payable by the Loan Guarantors  forthwith on demand by the Administrative Agent.  SECTION 10.07 Information.  Each Loan Guarantor assumes all responsibility for  being and keeping itself informed of the Borrower’s financial condition and assets, and of all other  circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature,  scope and extent of the risks that each Loan Guarantor assumes and incurs under this Loan  Guaranty, and agrees that none of the Administrative Agent, the Issuing Bank or any Lender shall  

 

   144  #153723541_v10  have any duty to advise any Loan Guarantor of information known to it regarding those  circumstances or risks.  SECTION 10.08 Termination.  Each of the Lenders and the Issuing Bank may  continue to make loans or extend credit to the Borrower based on this Loan Guaranty until five (5)  days after it receives written notice of termination from any Loan Guarantor.  Notwithstanding  receipt of any such notice, each Loan Guarantor will continue to be liable to the Lenders for any  Guaranteed Obligations created, assumed or committed to prior to the fifth day after receipt of the  notice, and all subsequent renewals, extensions, modifications and amendments with respect to, or  substitutions for, all or any part of such Guaranteed Obligations.  Nothing in this Section 10.08  shall be deemed to constitute a waiver of, or eliminate, limit, reduce or otherwise impair any rights  or remedies the Administrative Agent or any Lender may have in respect of, any Default or Event  of Default that shall exist under clause (o) of Article VII hereof as a result of any such notice of  termination.  SECTION 10.09 [Reserved].    SECTION 10.10 Maximum Liability.  Notwithstanding any other provision of this  Loan Guaranty, the amount guaranteed by each Loan 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, Uniform Voidable Transaction Act or similar statute  or common law.  In determining the limitations, if any, on the amount of any Loan 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 Loan Guarantor may  have under this Loan Guaranty, any other agreement or applicable law shall be taken into account.  SECTION 10.11 Contribution.  (a) To the extent that any Loan Guarantor shall make a payment under this Loan  Guaranty (a “Guarantor Payment”) which, taking into account all other Guarantor Payments then  previously or concurrently made by any other Loan Guarantor, exceeds the amount which  otherwise would have been paid by or attributable to such Loan Guarantor if each Loan Guarantor  had paid the aggregate Guaranteed Obligations satisfied by such Guarantor Payment in the same  proportion as such Loan 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 Loan Guarantors as determined immediately prior to the making of such Guarantor Payment,  then, following the Payment in Full of the Guaranteed Obligations and the termination of this  Agreement, such Loan Guarantor shall be entitled to receive contribution and indemnification  payments from, and be reimbursed by, each other Loan Guarantor for the amount of such excess,  pro rata based upon their respective Allocable Amounts in effect immediately prior to such  Guarantor Payment.  (b) As of any date of determination, the “Allocable Amount” of any Loan Guarantor  shall be equal to the excess of the fair saleable value of the property of such Loan Guarantor over  the total liabilities of such Loan Guarantor (including the maximum amount reasonably expected  to become due in respect of contingent liabilities, calculated, without duplication, assuming each  

 

   145  #153723541_v10  other Loan Guarantor that is also liable for such contingent liability pays its ratable share  thereof), giving effect to all payments made by other Loan Guarantors as of such date in a manner  to maximize the amount of such contributions.  (c) This Section 10.11 is intended only to define the relative rights of the Loan  Guarantors, and nothing set forth in this Section 10.11 is intended to or shall impair the  obligations of the Loan 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 Loan Guaranty.  (d) The parties hereto acknowledge that the rights of contribution and indemnification  hereunder shall constitute assets of the Loan Guarantor or Loan Guarantors to which such  contribution and indemnification is owing.  (e) The rights of the indemnifying Loan Guarantors against other Loan Guarantors under  this Section 10.11 shall be exercisable upon the Payment in Full of the Guaranteed Obligations  and the termination of this Agreement.  SECTION 10.12 Liability Cumulative.  The liability of each Loan Party as a Loan  Guarantor under this Article X is in addition to and shall be cumulative with all liabilities of each  Loan Party to the Administrative Agent, the Issuing Bank and the Lenders under this Agreement  and the other Loan Documents to which such Loan Party is a party or in respect of any obligations  or liabilities of the other Loan Parties, without any limitation as to amount, unless the instrument  or agreement evidencing or creating such other liability specifically provides to the contrary.  SECTION 10.13 Keepwell.  Each Qualified ECP Guarantor hereby jointly and  severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other  support as may be needed from time to time by each other Loan Party to honor all of its obligations  under this Guarantee in respect of a Swap Obligation (provided, however, that each Qualified ECP  Guarantor shall only be liable under this Section 10.13 for the maximum amount of such liability  that can be hereby incurred without rendering its obligations under this Section 10.13 or otherwise  under this Loan Guaranty voidable under applicable law relating to fraudulent conveyance or  fraudulent transfer, and not for any greater amount).  Except as otherwise provided herein, the  obligations of each Qualified ECP Guarantor under this Section 10.13 shall remain in full force  and effect until the termination of all Swap Obligations.  Each Qualified ECP Guarantor intends  that this Section 10.13 constitute, and this Section 10.13 shall be deemed to constitute, a “keepwell,  support, or other agreement” for the benefit of each other Loan Party for all purposes of Section  1a(18)(A)(v)(II) of the Commodity Exchange Act.  ARTICLE XI  Amendment and Restatement  (a) Upon the Effective Date, the terms and conditions of the Existing Credit Agreement  are amended as set forth in, and restated in their entirety and superseded by, this Agreement;  provided, however, that (i) all “Loans,” “Letters of Credit,” and other indebtedness, obligations  and liabilities outstanding under the Existing Credit Agreement on such date shall continue to  constitute Loans, Letters of Credit and other indebtedness, obligations and liabilities under this  

 

   146  #153723541_v10  Agreement, (ii) the execution and delivery of this Agreement or any of the Loan Documents  hereunder shall not constitute a novation, refinancing or any other fundamental change in the  relationship among the parties, and (iii) the Loans, Letters of Credit, and other indebtedness,  obligations and liabilities outstanding hereunder, to the extent outstanding under the Existing  Credit Agreement immediately prior to the date hereof, shall constitute the same loans, letters of  credit, and other indebtedness, obligations and liabilities as were outstanding under the Existing  Credit Agreement, except to the extent of any increases therein that become effective on the  Effective Date.     (b) Nothing in this Agreement shall be deemed to be a novation of any of the  “Obligations” and “Secured Obligations” as defined in the Existing Credit Agreement.   Notwithstanding any provision of this Agreement or any other Loan Document or instrument  executed in connection herewith, the execution and delivery of this Agreement and the incurrence  of Obligations hereunder shall be in substitution for, but not in payment of, the Obligations owed  by the Borrower under the Existing Credit Agreement; provided, however, except as otherwise  provided in the Loan Documents, in no event shall the Collateral (and Liens related thereto) or  Guarantees securing the Existing Credit Agreement or the “Obligations” or “Secured Obligations”  thereunder be deemed affected hereby, it being the intent and agreement of the parties that the  Guarantees and the Liens on the Collateral granted to secure the Obligations of the parties in  connection with the Existing Credit Agreement shall not be extinguished and shall remain valid,  binding and enforceable securing the “Obligations” and “Secured Obligations” under the Existing  Credit Agreement, as amended and restated hereby.  (c) All interest, fees, and other obligations which are, as of the Effective Date, accrued  under the Existing Credit Agreement shall (regardless of the terms of Existing Credit Agreement)  become due (on a pro rated basis, if applicable, to cover any stub or remaining periods) and shall  be paid by Borrower to Administrative Agent (for the account of each lender party to the Existing  Credit Agreement) on the Effective Date.    [Signature Page Follows]  

 

 

 

 

 

  [Credit Agreement]    JPMORGAN CHASE BANK, N.A., individually,  and as Administrative Agent, Lender, Swingline  Lender and Issuing Bank      By:   Name:  Eleftherios Karsos  Title:  Authorized Officer    

 

1      COMMITMENT SCHEDULE      Lender Revolving  Commitment  Term A Commitment  on the Effective Date  Term A Loans  Outstanding on  the Effective Date plus  Remaining Undrawn  Term A Commitments  on the Effective Date  JPMorgan Chase  Bank,  N.A.  $15,000,000.00 $10,937,500 $25,000,000.00  Total $15,000,000.00 $10,937,500 $25,000,000.00             

 

2      SCHEDULE 3.05    Properties, etc.    (a) Address of each parcel of real property that is owned or leased by any Loan Party     (i) Cantaloupe, Inc.:     Principal Office: 100 Deerfield Lane, Suite 300, Malvern, PA 19355  Denver Office: 1550 Wynkoop Street, Suite 2R, Denver CO, 80202  Louisiana Office: 3900 North Causeway Blvd., Suite 925, Metairie,  LA 70002  Georgia Office:  990 Hammond Drive, Suite 200, Atlanta, GA 30328    (ii) USAT Capital Corp, LLC: None    (iii) Cantaloupe Systems, Inc.: None    (iv) Cantaloupe International, Inc.: None    (v) Stitch Networks Corporation: None      (b) Trademarks, tradenames, copyrights, patents and other intellectual property    1. Patents:    Owned Patents:  Loan Party: Cantaloupe, Inc.    Patent Description Patent/ Application  Number  Issue Date  DYNAMIC IDENTIFICATION INTERCHANGE  METHOD FOR EXCHANGING ONE FORM OF  IDENTIFICATION FOR ANOTHER  6,754,641 6/22/2004  METHOD OF CONSTRUCTING A DIGITAL CONTENT  PLAY LIST FOR TRANSMISSION AND  PRESENTATION ON A PUBLIC ACCESS  ELECTRONIC TERMINAL  7,805,338 9/28/2010  COMMUNICATION INTERFACE DEVICE FOR  MANAGING WIRELESS DATA TRANSMISSION  BETWEEN A VEHICLE AND THE INTERNET  7,003,289 2/21/2006  SYSTEM FOR PROVIDING REMOTE AUDIT,  CASHLESS PAYMENT, AND INTERACTIVE  TRANSACTION CAPABILITIES IN A VENDING  MACHINE  6,505,095 1/7/2003  POINT OF SALE TERMINAL MOUNTABLE  ON A VENDING MACHINE D543,588 5/29/2007  

 

3      WIRELESS SYSTEM FOR COMMUNICATING  CASHLESS VENDING TRANSACTION DATA  AND VENDING MACHINE AUDIT DATA TO REMOTE  LOCATIONS  7,593,897 9/22/2009  SYSTEM AND METHOD FOR LOCALLY  AUTHORIZING CASHLESS TRANSACTIONS AT  POINT OF SALE  7,630,939 12/8/2009  CASHLESS VENDING TRANSACTION  MANAGEMENT BY A VEND ASSIST MODE  OF OPERATION  7,076,329 7/11/2006  CASHLESS VENDING TRANSACTION  MANAGEMENT BY A VEND ASSIST MODE OF  OPERATION  7,693,602 4/6/2010  INTERACTIVE INTERFACE EFFECTUATED  VENDING  8,596,529 12/3/2013  CARD READER ASSEMBLY 7,690,495 4/6/2010  CASHLESS VENDING SYSTEM WITH TETHERED  PAYMENT INTERFACE  7,464,867 12/16/2008  CASHLESS TRANSACTION PAYMENT MODULE 7,865,430 1/4/2011  DEVICES AND METHODS FOR PROVIDING  CASHLESS PAYMENT AND DIAGNOSTICS FOR  VENDING MACHINES  8,373,558 2/12/2013  VENDING APPROVAL SYSTEMS, METHODS, AND  APPARATUS USING CARD READERS  9,159,182 10/13/2015  APPARATUS, SYSTEM, AND METHODS FOR  RETROFITTING VENDING SYSTEMS WITH  WIRELESS COMMUNICATION  9,619,795 4/11/2017  VENDING INTERFACE CONTROLLER 1534461 8/28/2015  VENDING INTERFACE CONTROLLER D727,428 4/21/2015  UNATTENDED RETAIL SYSTEMS, METHODS  AND DEVICES FOR LINKING PAYMENTS,  LOYALTY, AND REWARDS  9,245,269 1/26/2016  VENDING MACHINE SYSTEMS USING STANDARD  INVENTORY CONTROL SYSTEM COMPONENT  8,788,341 7/22/2014  VENDING MACHINE NUTRITIONAL  INFORMATION DISPLAY SYSTEM USING  STANDARD INVENTORY CONTROL  SYSTEM COMPONENTS  8,583,280 11/12/2013  REFRIGERATED VENDING MACHINE EXPLOITING  EXPANDED TEMPERATURE VARIANCE DURING  POWER- CONSERVATION MODE  2001263356 1/13/2005  TEMPERATURE CONTROLLER FOR A  REFRIGERATED VENDING MACHINE  PI0111132-9 4/24/2013  TEMPERATURE CONTROLLER FOR A  REFRIGERATED VENDING MACHINE  2,409,228 3/9/2010  TEMPERATURE CONTROLLER FOR A  REFRIGERATED VENDING MACHINE  1299680 8/2/2017  

 

4      TEMPERATURE CONTROLLER FOR A  REFRIGERATED VENDING MACHINE  1299680 8/2/2017  TEMPERATURE CONTROLLER FOR A  REFRIGERATED VENDING MACHINE  1299680 8/2/2017  TEMPERATURE CONTROLLER FOR A  REFRIGERATED VENDING MACHINE  1299680 8/2/2017  TEMPERATURE CONTROLLER FOR A  REFRIGERATED VENDING MACHINE  1299680 8/2/2017  TEMPERATURE CONTROLLER FOR A  REFRIGERATED VENDING MACHINE  1299680 8/2/2017  TEMPERATURE CONTROLLER FOR A  REFRIGERATED VENDING MACHINE  234363 2/13/2006  METHOD AND APPARATUS FOR CONSERVING  POWER CONSUMED BY A REFRIGERATED  APPLIANCE UTILIZING AUDIO SIGNAL DETECTION  7,286,907 10/23/2007  METHOD AND APPARATUS FOR CONSERVING  POWER CONSUMED BY A VENDING MACHINE  UTILIZING AUDIO SIGNAL DETECTION  7,856,289 12/21/2010  POWER-CONSERVATION SYSTEM BASED ON  INDOOR/OUTDOOR AND AMBIENT- LIGHT  DETERMINATIONS  60225149.4 2/20/2008  POWER-CONSERVATION SYSTEM BASED ON  INDOOR/OUTDOOR AND AMBIENT- LIGHT  DETERMINATIONS  1419425 2/20/2008  POWER-CONSERVATION SYSTEM BASED ON  INDOOR/OUTDOOR AND AMBIENT- LIGHT  DETERMINATIONS  1419425 2/20/2008  POWER-CONSERVATION SYSTEM BASED ON  INDOOR/OUTDOOR AND AMBIENT- LIGHT  DETERMINATIONS  1419425 2/20/2008  POWER-CONSERVATION SYSTEM BASED ON  INDOOR/OUTDOOR AND AMBIENT- LIGHT  DETERMINATIONS  1419425 2/20/2008  POWER-CONSERVATION SYSTEM BASED ON  INDOOR/OUTDOOR AND AMBIENT- LIGHT  DETERMINATIONS  1419425 2/20/2008  POWER CONSERVATION SYSTEM BASED ON  INDOOR/OUTDOOR AND AMBIENT- LIGHT  DETERMINATION  6,801,836 10/5/2004  METHOD AND APPARATUS FOR CONSERVING  POWER CONSUMED BY A REFRIGERATED  APPLIANCE UTILIZING DISPENSING EVENT  DATA SIGNALS  6,898,942 5/31/2005  METHOD AND APPARATUS FOR POWER  MANAGEMENT CONTROL OF A COMPRESSOR- BASED APPLIANCE THAT REDUCES  ELECTRICAL POWER CONSUMPTION OF AN  APPLIANCE  6,975,926 12/13/2005  

 

5      METHOD AND APPARATUS FOR POWER  MANAGEMENT CONTROL OF A COOLING  SYSTEM IN A CONSUMER ACCESSIBLE  APPLIANCE  7,200,467 4/3/2007  METHOD FOR REVALUING A PRIVATE LABEL  CARD USING AN ELECTRONIC COMMERCE  TERMINAL (AS AMENDED)  6,684,197 1/27/2004  METHOD OF TRANSACTING AN ELECTRONIC  MAIL, AN ELECTRONIC COMMERCE, AND AN  ELECTRONIC BUSINESS TRANSACTION BY  AN ELECTRONIC COMMERCE TERMINAL  USING A WIRELESSLY NETWORKED  PLURALITY OF PORTABLE DIGITAL..  6,763,336 7/13/2004  VENDING APPROVAL SYSTEM, METHOD, AND  APPARATUS USING A CARD READER  3039629 10/24/2018  APPARATUS, SYSTEM, AND METHODS FOR  RETROFITTING VENDING SYSTEMS WITH  WIRELESS COMMUNICATION  3129960 6/26/2019  SYSTEMS AND METHODS FOR WIRELESS  AUTHORIZATION OF TRANSACTIONS WITH  MOBILE PAYMENT DEVICES  9,852,423 12/26/2017  METHOD AND DEVICE OF AUTOMATICALLY  DETERMINING A PLANOGRAM IN VENDING  9,972,158 5/15/2018  PERSONAL VENDING 9,898,884 2/20/2018  PORTABLE SECURITY BIN 10,169,980 1/1/2019  Remote management of vending  machines US8103380 1/24/2012  Remote diagnosis and repair of vending machine  communication failures  US7325728 2/5/2008  Vending machine door monitoring  system US7385504 6/10/2008  Vending machine service scheduling US7894938 2/22/2011  Vending machine service scheduling taking into account  hardness data indicating importance of minimizing the  number of service visits to a  vending machine and/or to the vending machine’s location  US8311867 11/13/2012  Vending machine service scheduling US8571705 10/29/2013  

 

6      Vending machine service scheduling US9286588 3/15/2016  Antenna housing for a vending machine D531626 11/7/2006  Radio antenna D729214 5/12/2015  CREDIT AND BANK ISSUED DEBIT CARD  OPERATED SYSTEM AND METHOD FOR  CONTROLLING A PREPAIDCARD  ENCODING/DISPENSING MACHINE  5,637,845 06/10/1997  APPARATUS AND METHODS FOR MONITORING  AND COMMUNICATING WITH A PLURALITY OF  NETWORKEDREMOTE VENDING MACHINES  5,844,808    12/01/1998  CREDIT CARD, SMART CARD AND BANK ISSUED  DEBIT CARD OPERATED SYSTEM AND METHOD  FOR PROCESSING ELECTRONIC TRANSACTIONS  6,119,934 09/19/2000  SYSTEM AND METHOD FOR NETWORKING AND  CONTROLLING VENDING MACHINES  6,056,194 05/02/2000  CREDIT AND BANK ISSUED DEBIT CARD  OPERATED SYSTEM AND METHOD FOR  CONTROLLING A VENDING MACHINE  6,152,365 11/28/2000  EXTERNAL POWER MANAGEMENT DEVICE WITH  CURRENT MONITORING PRECLUDING SHUTDOWN  DURING HIGH CURRENT  6,243,626 06/05/2001  UNIVERSAL INTERACTIVE ADVERTISING AND  PAYMENT SYSTEM FOR PUBLIC ACCESS  ELECTRONIC COMMERCE AND BUSINESS  RELATED PRODUCTS AND SERVICES  6,609,102 08/19/2003  UNIVERSAL INTERACTIVE ADVERTISING AND  PAYMENT SYSTEM NETWORK FOR PUBLIC  ACCESS ELECTRONIC COMMERCE AND BUSINESS  RELATED PRODUCTS AND SERVICES  6,604,085 08/05/2003  METHOD OF PROCESSING CREDIT CARD, E- COMMERCE, AND E-BUSINESS TRANSACTIONS  WITHOUT THE MERCHANT INCURRING  TRANSACTION PROCESSING FEES OR CHARGES  WORLDWIDE  6,601,037 07/29/2003  DELIVERY OF GOODS AND SERVICES RESULTANT  FROM AN ELECTRONIC COMMERCE  TRANSACTION BYWAY OF A PACK AND SHIP TYPE  COMPANY  6,601,038 07/29/2003  GAS PUMP CONTROL SYSTEM HAVING ACCESS TO  THE INTERNET FOR THE PURPOSES OF  TRANSACTING E-MAIL, E-COMMERCE, AND E- BUSINESS, AND FOR CONDUCTING VENDING  TRANSACTIONS  6,601,039 07/29/2003  

 

7      ELECTRONIC COMMERCE TERMINAL CONNECTED  TO A VENDING MACHINE OPERABLE AS A  TELEPHONE  6,604,086 08/05/2003  VENDING MACHINE CONTROL SYSTEM HAVING  ACCESS TO THE INTERNET FOR THE PURPOSES OF  TRANSACTING E-MAIL, E-COMMERCE, AND E- BUSINESS, AND FOR CONDUCTING VENDING  TRANSACTIONS  6,606,602 08/12/2003  A STORE DISPLAY WINDOW CONNECTED TO AN  ELECTRONIC COMMERCE TERMINAL  6,611,810 08/26/2003  A METHOD OF TRANSACTING E- COMMERCE AND  E- BUSINESS FROM A PUBLIC ACCESS PERVASIVE  COMPUTING DEVICE  6,615,183 09/02/2003  VENDING ACCESS TO THE INTERNET, BUSINESS  APPLICATION SOFTWARE, E-COMMERCE, AND E- BUSINESS IN A HOTEL ROOM  6,604,087 08/05/2003  ELECTRONIC COMMERCE TERMINAL FOR  FACILITATING INCENTIVE-BASED PURCHASING  ON TRANSPORTATION VEHICLES  6,609,103 08/19/2003  AN ELECTRONIC COMMERCE TERMINAL FOR  WIRELESSLY COMMUNICATING TO A PLURALITY  OF COMMUNICATION DEVICES  6,601,040 07/29/2003  System and method for networking and controlling vending  machines  6,321,985 1/27/2001  AN IN-VEHICLE DEVICE FOR WIRELESSLY  CONNECTING A VEHICLE TO THE INTERNET AND  FOR TRANSACTING E-COMMERCE AND E- BUSINESS  6,856,820 02/15/2005  TRANSACTING E-COMMERCE AND CONDUCTING  E-BUSINESS RELATED TO IDENTIFYING AND  PROCURING AUTOMOTIVE SERVICE AND VEHICLE  REPLACEMENT PARTS  6,389,337 05/14/2002  COMMUNICATING INTERACTIVE DIGITAL  CONTENT BETWEEN VEHICLES AND INTERNET  BASED DATA PROCESSING RESOURCES FOR THE  PURPOSE OF TRANSACTING E-COMMERCE OR  CONDUCTING E-BUSINESS  6,615,186 09/02/2003  REFRIGERATED VENDING MACHINE EXPLOITING  EXPANDED TEMPERATURE VARIANCE DURING  POWER-CONSERVATION MODE  6,389,822 05/21/2002  METHOD FOR REVALUING A PHONE CARD 7,089,209 08/08/2006  TRANSACTION PROCESSING METHOD OF  FULFILLING AN ELECTRONIC COMMERCE  TRANSACTION BY AN ELECTRONIC COMMERCE  TERMINAL SYSTEM  6,629,080 09/30/2003  METHOD OF TRANSACTING AN ELECTRONIC  MAIL, AN ELECTRONIC COMMERCE, AND AN  ELECTRONIC BUSINESS TRANSACTION BY AN  6,622,124 09/16/2003  

 

8      ELECTRONIC COMMERCE TERMINAL OPERATED  ON A TRANSPORTATION VEHICLE  A METHOD OF SOLICITING A USER INPUT SURVEY  DATA AT AN ELECTRONIC COMMERCE TERMINAL  6,807,532 10/19/2004  METHOD OF TRANSACTING AN ELECTRONIC  MAIL, AN ELECTRONIC COMMERCE, AND AN  ELECTRONIC BUSINESS TRANSACTION BY AN  ELECTRONIC COMMERCE TERMINAL USING A GAS  PUMP  6,643,623 11/04/2003  METHOD TO OBTAIN CUSTOMER SPECIFIC DATA  FOR PUBLIC ACCESS ELECTRONIC COMMERCE  SERVICES  6,606,605 08/12/2003  VEHICLE RELATED WIRELESS SCIENTIFIC  INSTRUMENTATION TELEMATICS  6,895,310 05/17/2005  GLOBAL NETWORK BASED VEHICLE SAFETY AND  SECURITY TELEMATICS  6,853,894 02/08/2005  MDB TRANSACTION STRING EFFECTUATED  CASHLESS VENDING  7,131,575 11/07/2006  REFRIGERATED VENDING MACHINE EXPLOITING  EXPANDED TEMPERATURE VARIANCE DURING  POWER-CONSERVATION MODE  6,581,396 06/24/2003  REFRIGERATED VENDING MACHINE EXPLOITING  EXPANDED TEMPERATURE VARIANCE DURING  POWER-CONSERVATION MODE  6,931,869 08/23/2005  VENDING MACHINE SERVICE SCHEDULING    15,009,482    On Appeal  –Awaiting   Decision  by the Board of  Appeals    METHOD AND SYSTEM OF PERSONAL VENDING 10,861,276 12/08/2020  Electronic commerce terminal enclosure with brackets D441,401 05/01/2001  PRINTER BRACKET FOR POINT OF SALE TERMINAL D476,036 06/17/2003  PAPER GUIDE FOR A POINT OF SALE TERMINAL D475,750 06/10/2003  USER INTERFACE BRACKET FOR A POINT OF SALE  TERMINAL  D475,751 06/10/2003  

 

9      TRANSCEIVER BASE UNIT D478,577 08/19/2003  PRINTER BRACKET FOR POINT OF SALE TERMINAL D475,414 06/03/2003  USER INTERFACE BRACKET FOR A POINT OF SALE  TERMINAL  D476,037 06/17/2003  MOUNTING BRACKET FOR MOUNTING A  CASHLESS PAYMENT TERMINAL TO A VENDING  MACHINE  D480,948 10/21/2003  VENDING MACHINE CASHLESS PAYMENT  TERMINAL  D477,030 07/08/2003  POWER-CONSERVATION SYSTEM FOR COMPUTER  PERIPHERALS  5,477,476 12/19/1995  LAPTOP DATA PORT ENCLOSURE D415,742 10/26/1999  SIGN HOLDER D418,878   DATAPORT  D423,474    04/25/2000  ELECTRONIC COMMERCE TERMINAL ENCLOSURE D428,047 07/11/2000  ELECTRONIC COMMERCE TERMINAL ENCLOSURE  FOR A VENDING MACHINE  D428,444 07/18/2000  ELECTRONIC COMMERCE TERMINAL ENCLOSURE  FOR A VENDING MACHINE  D437,890 02/20/2001       Loan Party: Cantaloupe, Inc.  Patent Applications:    Loan  Party  Ref. # Title CNTRY Serial # Filed  Date  Patent # Issue  Date  Statu s  Cantaloupe,  Inc. USE-  714CA  VENDING  APPROVAL  SYSTEM,  METHOD, AND  APPARATUS  USING A CARD  READER  CA 2,921,660 8/27/2014     PEN DIN G  

 

10      Cantaloupe,  Inc. USE-  716CA  SYSTEMS  AND  METHODS  FOR  SENDING  INFORMATI ON TO  MOBILE  DEVICES  UTILIZING  MOBILE  DEVICE  IDENTIFIERS  CA 2,943,880 4/8/2015   PEND ING  Cantaloupe,  Inc. USE-  717CA  APPARATUS,  SYSTEM, AND  METHODS FOR  RETROFITTING  VENDING  SYSTEMS WITH  WIRELESS  COMMUNICATI ON  CA 2,943,883 4/8/2015     PEND ING  Cantaloupe,  Inc. USE-  718CA  SYSTEMS AND  METHODS FOR  WIRELESS  AUTHORIZATI ON OF  TRANSACTION S WITH  MOBILE  PAYMENT  DEVICES  CA 2,943,884 4/8/2015   PEND ING  Cantaloupe,  Inc. USE-  718EP  SYSTEMS AND  METHODS FOR  WIRELESS  AUTHORIZATI ON OF  TRANSACTION S WITH  MOBILE  PAYMENT  DEVICES  EP 15718113.2 4/8/2015   PUBLI SHED  Cantaloupe,  Inc. USE-  721CA  UNATTENDED  RETAIL  SYSTEMS,  METHODS,  AND DEVICES  FOR LINKING  PAYMENTS,  LOYALTY, AND  REWARDS  CA 2,956,731 9/11/2015     PEN DIN G  

 

11      USAT  Capital  Corp, LLC  None  None None None None None None None  Cantaloupe  Systems,  Inc.  None None None None None None None None      Trademarks:    Loan Party Trademark Registration Date Registration Number  Cantaloupe, Inc. USA TECHNOLOGIES 2/23/2016 4,903,734  Cantaloupe, Inc. USALIVE 5/25/2004 2,845,393  Cantaloupe, Inc. VM2IQ 8/15/2006 3,130,828  Cantaloupe, Inc. CM2IQ 8/15/2006 3,130,829  Cantaloupe, Inc. ENERGYMISER 5/6/2008 3,424,496  Cantaloupe, Inc. CREATING VALUE  THROUGH  INNOVATION    5/8/2012    4,139,315  Cantaloupe, Inc. EPORT CONNECT 7/8/2008 3,462,181  Cantaloupe, Inc. ESUDS 11/18/2008 006428239  Cantaloupe, Inc. ESUDS 6/18/2013 4,354,183  Cantaloupe, Inc. CANATALOUPE &  DESIGN      2/23/2016    4,903,756  Cantaloupe, Inc. VENDSCREEN 10/6/2015 4,827,283  Cantaloupe, Inc. SNACKMISER 1/25/2005 2,920,610  Cantaloupe, Inc. VENDINGMISER 10/1/2002 2,628,447  Cantaloupe, Inc. PC EXPRESS 12/18/2001 2,520,390  Cantaloupe, Inc. TRANSACT 7/23/2002 2,598,187  Cantaloupe, Inc. EPORT 3/25/2003 2,700,645  Cantaloupe, Inc. EPORT 6/10/2003 2,724,498  Cantaloupe Systems, Inc. BECAUSE MACHINES  CAN’T CRY FOR HELP  6/26/2007 3256437  Cantaloupe Systems, Inc. BUZZBOX 7/9/2002 2593017  Cantaloupe Systems, Inc. CANTALOUPE CIRCLE  LOGO (design)  7/10/2007 3260944  

 

12      Cantaloupe Systems, Inc. CANTALOUPE SYSTEMS  (design)  1/2/2007 3192164  Cantaloupe Systems, Inc. COMPUVEND 11/5/1985 1368742  Cantaloupe Systems, Inc. ROUTEMASTER 4/22/1997 2053727  Cantaloupe Systems, Inc. SEED 5/3/2011 3954711  Cantaloupe Systems, Inc. SEED (design) 1/16/2007 3198306  Cantaloupe Systems, Inc. SEED OFFICE 9/2/2014 4597636  Cantaloupe Systems, Inc. SEEDCASHLESS  (and design/logo)  5/29/2012 4148607  Cantaloupe Systems, Inc. VENDPRO 5/13/2005 2958533  Cantaloupe Systems, Inc. WAREHOUSE MASTER 6/22/2004 2856013  Cantaloupe, Inc. EPORT 02/10/2021 90522866  Cantaloupe, Inc. CANTALOUPE 02/10/2021 90522851  Cantaloupe, Inc. C 02/10/2021 90522842  Cantaloupe, Inc. HELP THE WORLD BUY IT  AND GO  04/21/2021  90660680  Cantaloupe, Inc. SEED 02/10/2021 90522870  Cantaloupe, Inc. INTELLIGENT VENDING 12/31/2019 5949019  Cantaloupe, Inc. YOKE 05/03/2016 4953027  Cantaloupe, Inc. EPORT 01/02/2018 5370260  Cantaloupe, Inc. DESIGN ONLY MARK 08/29/2017 5273560      Domains Names:    Cantaloupe, Inc.:    1. cantaloupe.com  2. cantaloupe.net  3. cantaloupesys.com  4. coolermiser.com  5. e-vend.net  6. energymisers.co.uk  7. energymisers.com  8. energymisers.eu  9. energymisers.net  10. eport-go.com  11. eportgo.com  12. eportmobile.com  13. esuds.com  14. esuds.net  15. esuds.online  16. mycantaloupe.com  17. seedlive.com  18. seedlive.net  19. seedt.com  

 

13      20. snackmiser.com  21. usa-tech.com  22. usatech.com  23. usatech.link  24. vendingmiser.com  25. vendingreceipt.com  26. yokepayments.com  27. yokeportal.com  28. yokeinc.com    USAT Capital Corp, LLC    None    Cantaloupe Systems, Inc.    None    Copyrights:     None    

 

14      SCHEDULE 3.06  Disclosed Matters  Department of Justice Subpoena In the third quarter of fiscal year 2020, Cantaloupe, Inc. responded to a subpoena received  from the U.S. Department of Justice that sought records regarding Cantaloupe, Inc. activities that occurred during prior financial  reporting periods, including restatements. Cantaloupe, Inc. is cooperating fully with the agency’s queries.        

 

15      SCHEDULE 3.09    Taxes    1. Cantaloupe, Inc.    N/A    2. USAT Capital Corp, LLC    N/A    3. Cantaloupe Systems, Inc.:    N/A    4. Cantaloupe International, Inc.:    N/A    5. Stitch Networks Corporation    N/A  

 

1      SCHEDULE 3.12    Material Agreements      Cantaloupe, Inc.    1. Form of Indemnification Agreement between Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) and each of  its officers and directors (See Exhibit 10.1 to Form 10-Q filed May 15, 2007).    2. Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) 2013 Stock Incentive Plan (See Exhibit 10.6 to Form 10- K filed on September 30, 2013).    3. Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) 2014 Stock Option Incentive Plan (See Appendix A to  Definitive Proxy Statement filed on May 15, 2014).    4. Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) 2015 Equity Incentive Plan (See Appendix A to  Cantaloupe, Inc.’s Definitive Proxy Statement filed on May 15, 2015).    5. Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) 2018 Equity Incentive Plan, as amended in May 2020  (See Appendix A to Cantaloupe, Inc.’s Definitive Proxy Statement filed on April 2, 2018).    6. First Amendment to Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) 2018 Equity Incentive Plan (See  Exhibit 10.1 to Form 8-K filed May 26, 2020).      7. Employment Separation Agreement and General Releases by and between Cantaloupe, Inc. (f/k/a USA  Technologies, Inc.) and Stephen P. Herbert dated October 17, 2019 (See Exhibit 10.2 to Form 8-K filed October 18,  2019).    8. Employment, Non-Interference, Non-Solicitation, Non-Competition and Invention Assignment  Agreement by and between Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) and Anant Agrawal dated November 9, 2017  (See Exhibit 10.9 to Form 10-K filed October 9, 2019).    9. First Amendment to Employment, Non-Interference, Non-Solicitation, Non-Competition and Invention  Assignment Agreement by and between Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) and Anant Agrawal dated  February 25, 2018 (See Exhibit 10.9.1 to Form 10-K filed October 9, 2019).    10. Second Amendment to Employment, Non-Interference, Non-Solicitation, Non-Competition and Invention  Assignment Agreement by and between Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) and Anant Agrawal dated  August 7, 2019 (See Exhibit 10.9.2 to Form 10-K filed October 9, 2019).    11. Separation Agreement and Release, dated May 10, 2020, between Cantaloupe, Inc. (f/k/a USA  Technologies, Inc.) and Donald W. Layden, Jr. (See Exhibit 10.1 to Form 8-K filed May 13, 2020).    12. Employment Agreement, dated May 8, 2020, between Cantaloupe, Inc. (f/k/a USA Technologies, Inc.)  and Sean Feeney (See Exhibit 10.2 to Form 8-K filed May 13, 2020).    13. Non-Qualified Stock Option Agreement, dated May 8, 2020, between Cantaloupe, Inc. (f/k/a USA  

 

2      Technologies, Inc.) and Sean Feeney (See Exhibit 10.3 to Form 8-K filed May 13, 2020).    14. Third Party Payment Processor Agreement dated April 24, 2015 by and among Cantaloupe, Inc. (f/k/a  USA Technologies), JPMorgan Chase Bank, N.A. and Paymentech, LLC (See Exhibit 10.46 to Form 10-K filed  September 30, 2015; Portions of this exhibit were redacted pursuant to a confidential treatment request).    15. Integrator Amendment (2018) to Third Party Payment Processor Agreement dated October 22, 2018 by  and among Cantaloupe, Inc. (f/k/a USA Technologies, Inc.), JPMorgan Chase Bank, N.A. and Paymentech, LLC (See  Exhibit 10.15.1 to Form 10-K filed October 9, 2019).    16. Merchant Processing Agreement dated April 6, 2018 by and among Cantaloupe Systems, Inc., and  Heartland Payment Systems, Inc. (See Exhibit 10.16 to Form 10-K filed October 9, 2019).    17. Payment Solutions Agreement between Cantaloupe, Inc., First Data Merchant Services LLC and Wells  Fargo Bank, N.A., dated March 20, 2020 (See Exhibit 10.1 to Form 10-Q filed on June 24, 2020; Portions of this exhibit  were redacted pursuant to a confidential treatment request).    18. Separation Agreement and Release, dated as of June 1, 2021, between Cantaloupe, Inc. and James Pollock  (See Exhibit 10.1 to Form 8-K filed June 3, 2021).    19. Offer Letter, by and between Scott Stewart and Cantaloupe, Inc. (f/k/a USA Technologies), Inc., dated as  of August 6, 2020.    20. Employment Agreement between Cantaloupe, Inc. and Scott Stewart, effective February 4, 2022 (See  Exhibit 10.4 of Form 8-K filed February 3, 2022).    21. Employment Agreement between Cantaloupe, Inc. and Ravi Venkatesan, effective February 4, 2022  (See  Exhibit 10.5 of Form 8-K filed February 3, 2022) .    22. Separation and Transition Agreement, by and between Cantaloupe, Inc. and R. Wayne Jackson, effective  February 4, 2022  (See Exhibit 10.3 of Form 8-K filed February 3, 2022).       USAT Capital Corp, LLC    None    Cantaloupe Systems, Inc.    All references to “The Company” in this Schedule 3.12 are references to Cantaloupe Systems, Inc.    1. The Company is a party to a Business Agreement dated April 28, 2004 with Inovar, Inc., pursuant  to which the Company and Inovar, Inc. have agreed to certain business terms and conditions  related to the manufacture of products by Inovar, Inc. for the Company.    2. The Company is a party to a Merchant Application with Heartland Payment Systems dated April  1, 2009, as amended, which contains business agreements between the parties.      

 

3       Stitch Networks    None     Cantaloupe International, Inc.       None 

 

1        SCHEDULE 3.14    Insurance    Insurance Maintained by Cantaloupe, Inc. and its Subsidiaries:    Policy # Policy Term Writing Company Coverage Type  35372128 11/01/2021 –  11/02/2022  Federal Insurance  Company  Commercial General  Liability and Property  73253160 11/01/2021 –  11/02/2022  Federal Insurance  Company  Automobile Liability  79833160 11/01/2021 –  11/02/2022  Federal Insurance  Company  Umbrella Liability  71628616 11/01/2021 –  11/02/2022  Federal Insurance  Company  Workers  Compensation and  Employers’ Liability  D95614711 11/01/2021 –  11/02/2022  Federal Insurance  Company  Technology Errors &  Omissions Liability,  Cyber Liability  35372128 11/01/2021 –  11/02/2022  Federal Insurance  Company  Property Insurance      

 

1        SCHEDULE 3.15    Capitalization and Subsidiaries    Cantaloupe, Inc.  Capitalization    1. Common Stock   Authorized: 640,000,000 shares   Issued and outstanding: 63,808,481 shares  2. Preferred Stock   Authorized: 1,800,000 shares   Issued and outstanding: 0 shares  3. Series A Convertible Preferred Stock   Authorized: 900,000 shares   Issued and outstanding: 445,063 shares  4. Series B Preferred Stock   Authorized: 765,000 shares   Issued and outstanding: 0 shares  5. Warrants: Issued to Heritage Bank of Commerce, and exercisable for 23,978 shares of common stock at $5  a share until 3/29/2021  6. Stock options – Issued to employees and directors with varying expiration dates and exercise prices  Subsidiaries    1. USAT Capital Corp, LLC Wholly owned by Cantaloupe, Inc.  2. Stitch Networks Corporation Wholly owned by Cantaloupe, Inc.  3. Cantaloupe Systems, Inc. Wholly owned by Cantaloupe, Inc.  4. Cantaloupe International, Inc.       Wholly owned by Cantaloupe, Inc.    USAT Capital Corp, LLC  Membership Interests   100% Units of Limited Liability Company interest – issued to Cantaloupe, Inc.    Cantaloupe Systems, Inc.  Common Stock   Authorized 1,000 shares    Issued and Outstanding: 1,000 shares – issued to Cantaloupe, Inc.    Stitch Networks Corporation  1. Common Stock   Authorized: 17,000,000 Shares   Issued and Outstanding: 100,000 shares – issued to Cantaloupe, Inc.    2. Preferred Stock   Authorized: 8,391,532 shares   Issued and Outstanding: 0 shares    

 

2        Cantaloupe International, Inc.   Common Stock   Authorized: 100 Shares   Issued: 100 shares – issued to Cantaloupe, Inc.        SCHEDULE 6.01  Existing Indebtedness    Capital Leases:      Termination Balance at  Loan Party Name of Lessor Lease Date Date   Cantaloupe, Inc. Univest Debt Collection 12/31/2017 11/1/2022 $4,864.76  Cantaloupe, Inc. GreatAmerica (Ricoh C407)  Wells Fargo  12/26/2018 11/22/2023 $13,299.36  USAT Capital Corp, LLC None None None None  Cantaloupe Systems, Inc. None None None None  Stitch Networks  Corporation  None None None None  Cantaloupe International,  Inc.  None None None None    Promissory Notes:    Cantaloupe, Inc.    None    USAT Capital Corp, LLC    None    Cantaloupe International, Inc.    None  

 

3      SCHEDULE 6.02    Existing Liens      None      

 

4      SCHEDULE 6.04    Existing Investments    Cantaloupe, Inc.    1. 100,000 shares (100% of issued and outstanding) in Stitch Networks Corporation  2. 1,000 shares (100% of issued and outstanding) in Cantaloupe Systems, Inc.  3. 100% of membership interests in USAT Capital Corp, LLC  4. 100 shares in Cantaloupe International, Inc.    USAT Capital Corp, LLC    None    Cantaloupe Systems, Inc.    None      Cantaloupe International, Inc.    None    Stitch Networks Corporation    None        

 

         SCHEDULE 6.10    Existing Restrictions    None    

 

1 #153723541_v10 EXHIBIT A  ASSIGNMENT AND ASSUMPTION  This Assignment and Assumption (this “Assignment and Assumption”) is dated as  of the Effective Date set forth below and is entered into by and between [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, supplemented or otherwise modified from time to time, 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 and  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 other rights 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: ______________________________  4. Administrative Agent: ______________________, as the administrative agent under the Credit Agreement  5. Credit Agreement: The Amended and Restated Credit Agreement dated as of March 17, 2022 among Cantaloupe, Inc., a Pennsylvania corporation, the  1Select as applicable.  

 

2      Lenders party thereto, JPMorgan Chase Bank, N.A., as  Administrative Agent for the Lenders, and the other parties thereto  6. Assigned Interest:    Facility Assigned2 Aggregate Amount of  Commitment/Loans  for all Lenders  Amount of  Commitment/Loans  Assigned  Percentage Assigned  of  Commitment/Loans3   $ $ % $ $ % $ $ %   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 Assignee agrees to deliver to the Administrative Agent a completed 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 the Borrower, the  Loan Parties 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.  The terms set forth in this Assignment and Assumption are hereby agreed to:  ASSIGNOR  [NAME OF ASSIGNOR]  By:______________________________  Name:____________________________  Title:_____________________________  ASSIGNEE  [NAME OF ASSIGNEE]  By:______________________________  Name:___________________________  Title:_____________________________                                                        2Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being  assigned under this Assignment (e.g. “Revolving Commitment,” “Term Commitment,” etc.)  3Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.  

 

   3  #153723541_v10  [Consented to and]4 Accepted:  [NAME OF ADMINISTRATIVE AGENT], as  Administrative Agent[, Issuing Bank and Swingline Lender]  By:_________________________________  Name:______________________________  Title:_______________________________  [Consented to:]5  [NAME OF RELEVANT PARTY]  By:________________________________  Name:_____________________________  Title:_______________________________                                                        4To be added only if the consent of the Administrative Agent, Issuing Bank and/or Swingline Lender, as  applicable, is required by the terms of the Credit Agreement.  5To be added only if the consent of the Borrower and/or other parties (e.g. Swingline Lender, Issuing  Bank) is required by the terms of the Credit Agreement.  

 

1 #153723541_v10 ANNEX 1 to  ASSIGNMENT AND ASSUMPTION  Amended and Restated Credit Agreement dated as of March 17, 2022 among Cantaloupe, Inc.,  a Pennsylvania corporation, the other Loan Parties, JPMorgan Chase Bank, N.A., as  Administrative Agent for the Lenders, and each lender from time to time party thereto  STANDARD TERMS AND CONDITIONS FOR  ASSIGNMENT AND ASSUMPTION  1. Representations and Warranties. 1.1   Assignor.  The Assignor (a) represents and warrants that (i) it is the legal and  beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien,  encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all  action necessary, to execute and deliver this Assignment and Assumption and to consummate the  transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any  statements, warranties or representations made in or in connection with the Credit Agreement or  any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness,  sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial  condition of the Borrower, any Subsidiary or Affiliate or any other Person obligated in respect of  any Loan Document or (iv) the performance or observance by the Borrower, any Subsidiary or  Affiliate, 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 ___ 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) 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,  

 

2      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.    Acceptance and adoption of the terms of this Assignment and Assumption by the Assignee and  the Assignor by Electronic Signature (as defined in the Credit Agreement) or delivery of an  executed counterpart of a signature page of this Assignment and Assumption by any Electronic  System (as defined in the Credit Agreement) 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.  

 

1 #153723541_v10 EXHIBIT B-1  FORM OF BORROWING REQUEST  CANTALOUPE, INC.  Borrowing Request Date: [____________________],  20__  JPMorgan Chase Bank, N.A.  Middle Market Servicing  10 South Dearborn, Floor L2  Suite IL1-0480  Chicago, IL, 60603-2300  Email:  jpm.agency.cri@jpmorgan.com  Attn: Katy Tyler  Fax No: (844) 490-5663  Ladies and Gentlemen:  This Borrowing Request is furnished pursuant to Section 2.03 of that certain Amended and  Restated Credit Agreement dated as of March 17, 2022 (as amended, restated, supplemented  or otherwise modified from time to time, the “Agreement”) among Cantaloupe, Inc.  (the “Borrower”), the other Loan Parties, the lenders party thereto, and JPMorgan Chase Bank,  N.A., as administrative agent (the “Administrative Agent”)for the Lenders.  Unless otherwise  defined herein, capitalized terms used in this Borrowing Request have the meanings ascribed  thereto in the Agreement.  The Borrower represents that, as of this date, the conditions  precedent set forth in Section 4.02 are satisfied.  1. The Borrower hereby notifies Administrative Agent of its request for the following Borrowing: (1) [Revolving] [Term Loan] Borrowing (2) Aggregate Amount of the [Revolving] [Term Loan] Borrowing: $[__________________] (3) Name of the applicable Borrower: CANTALOUPE, INC. (4) Borrowing Date of the Borrowing (must be a Business Day): [____________________] (5) In the case of Revolving Borrowings, the currency of the Borrowing (which must be Dollars or an Alternative Currency: [______________] (6) The Borrowing shall be a [____] ABR Borrowing or [___]Term Benchmark Borrowing (7) If a Term Benchmark Borrowing, the duration of Interest Period: One Month  [__________] Three Months [__________]  

 

2      Six Months [__________]       CANTALOUPE, INC.      By: _______________________     Name:          Title:        

 

1 #153723541_v10 EXHIBIT B-2  FORM OF INTEREST ELECTION REQUEST  CANTALOUPE, INC.  Interest Election Request         Date: [____________________], 20__  JPMorgan Chase Bank, N.A.  Middle Market Servicing  10 South Dearborn, Floor L2  Suite IL1-0480  Chicago, IL, 60603-2300  Email:  jpm.agency.cri@jpmorgan.com  Attn: Katy Tyler  Fax No: (844) 490-5663  Ladies and Gentlemen:  Reference is hereby made to the Credit Agreement dated as of March 17, 2022 (as  amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),  among Cantaloupe, Inc. (the “Borrower”), the other Loan Parties, the lenders party thereto, and  JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”) for the  Lenders.  Unless otherwise defined herein, terms defined in the Credit Agreement and used  herein shall have the meanings given to them in the Credit Agreement.  This notice  constitutes an Interest Election Request and the Borrower hereby gives you notice,  pursuant to Section 2.08 of the Credit Agreement, that it requests to convert an existing  Borrowing under the Credit Agreement, and in that connection the Borrower specifies the  following information with respect to such conversion requested hereby:  (A) List date, Type, Class, principal amount, currency and Interest Period (if applicable) of existing Borrowing: ___________ (B) Aggregate principal amount of resulting Borrowing:6 $_________________ (C) Effective date of interest election (which is a Business Day):________________ (D) Type of Borrowing:7 ____________________________________ (E) Interest Period and last day thereof (if a Eurodollar Borrowing):8 _____________________ 6 Must comply with Error! Reference source not found. of the Credit Agreement.  7 Specify ABR Borrowing or Term Benchmark Borrowing.  8 Applicable to Term Benchmark Borrowings only. Shall be subject to the definition of “Interest Period”  and can be a period of one, three or six months. Cannot extend beyond the Maturity Date. If an Interest  

 

2      Very truly yours,  CANTALOUPE, INC.    Name:   Title:                                                             Period is not specified, then the Borrower shall be deemed to have selected an Interest Period of one  month’s duration.  

 

1 #153723541_v10 EXHIBIT C-1  [FORM OF]  U.S. TAX COMPLIANCE CERTIFICATE  (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)  Reference is hereby made to the Amended and Restated Credit Agreement dated as  of March 17, 2022 (as amended, supplemented or otherwise modified from time to time, the  “Credit Agreement”), among Cantaloupe, Inc., a Pennsylvania corporation (the “Borrower”),  the other Loan Parties, JPMorgan Chase Bank, N.A., as Administrative Agent for the  Lenders, and each lender from time to time party thereto.  .  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 and (iv) it is not a controlled  foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code.  The undersigned has furnished the Administrative Agent and the Borrower with a  certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E, as  applicable.  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[  ]  

 

1 #153723541_v10 EXHIBIT C-2  [FORM OF]  U.S. TAX COMPLIANCE CERTIFICATE  (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)  Reference is hereby made to the Amended and Restated Credit Agreement dated as  of March 17, 2022 (as amended, supplemented or otherwise modified from time to time, the  “Credit Agreement”), among Cantaloupe, Inc., a Pennsylvania corporation (the “Borrower”),  the other Loan Parties, JPMorgan Chase Bank, N.A., as Administrative Agent for the  Lenders, and each lender from time to time party thereto.  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, and (iv) it is not a controlled foreign corporation related to the Borrower  as described in Section 881(c)(3)(C) of the Code.  The undersigned has furnished its participating Lender with a certificate of its non-U.S.  Person status on IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable.  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 PARTICIPANT]  By:_________________________  Name:_______________________  Title:________________________  Date: ________ __, 20[  ]  

 

1 #153723541_v10 EXHIBIT C-3  [FORM OF]  U.S. TAX COMPLIANCE CERTIFICATE  (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)  Reference is hereby made to the Amended and Restated Credit Agreement dated as of  March 17, 2022 (as amended, supplemented or otherwise modified from time to time, the “Credit  Agreement”), among Cantaloupe, Inc., a Pennsylvania corporation (the “Borrower”), the other  Loan Parties, JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders, and each  lender from time to time party thereto.  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 direct or indirect partners/members are the sole Beneficial Owners of such  participation, (iii) with respect such participation, neither the undersigned nor any of its direct or  indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in  the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,  (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower  within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect  partners/members is a controlled foreign corporation related to the Borrower as described in  Section 881(c)(3)(C) of the Code. The undersigned has furnished its participating Lender with IRS Form W-8IMY  accompanied by one of the following forms from each of its partners/members that is claiming the  portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable,  or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E,  as applicable, from each of such partner’s/member’s Beneficial Owners that is claiming the  portfolio interest exemption.  By executing this certificate, the undersigned agrees that (1) if the  information provided on this certificate changes, the undersigned shall promptly so inform such  Lender and (2) the undersigned shall have at all times furnished such Lender with a properly  completed and currently effective certificate in either the calendar year in which each payment is  to be made to the undersigned, or in either of the two calendar years preceding such payments.  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[  ]  

 

1 #153723541_v10 EXHIBIT C-4  [FORM OF]  U.S. TAX COMPLIANCE CERTIFICATE  (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)  Reference is hereby made to the Amended and Restated Credit Agreement dated as of  March 17, 2022 (as amended, supplemented or otherwise modified from time to time, the “Credit  Agreement”), among Cantaloupe, Inc., a Pennsylvania corporation (the “Borrower”), the other  Loan Parties, JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders, and each  lender from time to time party thereto.  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 direct or indirect  partners/members are the sole Beneficial Owners of such Loan(s) (as well as any Note(s)  evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit  Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect  partners/members is a bank extending credit pursuant to a loan agreement entered into in the  ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,  (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower  within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect  partners/members is a controlled foreign corporation related to the Borrower as described in  Section 881(c)(3)(C) of the Code. The undersigned has furnished the Administrative Agent and the Borrower with IRS Form  W-8IMY accompanied by one of the following forms from each of its partners/members that is  claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as  applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W- 8BEN-E, as applicable, from each of such partner’s/member’s Beneficial Owners that is claiming  the portfolio interest exemption.  By executing this certificate, the undersigned agrees that (1) if  the information provided on this certificate changes, the undersigned shall promptly so inform the  Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished  the Borrower and the Administrative Agent with a properly completed and currently effective  certificate in either the calendar year in which each payment is to be made to the undersigned, or  in either of the two calendar years preceding such payments. 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[  ]  

 

1 #153723541_v10 EXHIBIT D  COMPLIANCE CERTIFICATE  To: The Lenders party to the  Credit Agreement described below  This Compliance Certificate (“Certificate”), for the period ended _______ __, 20__,   is furnished pursuant to that certain Amended and Restated Credit Agreement dated as of March  17, 2022 (as amended, modified, renewed or extended from time to time, the “Agreement”)  among Cantaloupe, Inc., a Pennsylvania corporation (the “Borrower”), the other Loan Parties, the  Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent for the  Lenders and as the Issuing Bank and Swingline Lender.  Unless otherwise defined herein,  capitalized terms used in this Certificate have the meanings ascribed thereto in the Agreement.  THE UNDERSIGNED HEREBY CERTIFIES THAT: 1. I am the [                        ] of the Borrower and I am authorized to deliver this Certificate on behalf of the Borrower and its Subsidiaries; 2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under my supervision, a detailed review of the compliance of the Borrower and its Subsidiaries with the Agreement during the accounting period covered by the attached financial statements (the “Relevant Period”); 3. The attached financial statements of the Borrower and, as applicable, its Subsidiaries and/or Affiliates for the Relevant Period: (a) have been prepared on an accounting basis (the “Accounting Method”) consistent with the requirements of the Agreement and, except as may have been otherwise expressly agreed to in the Agreement, in accordance with GAAP consistently applied, and (b) to the extent that the attached are not the Borrower’s annual fiscal year end statements, are subject to normal year-end audit adjustments and the absence of footnotes; 4. The examinations described in paragraph 2 did not disclose and I have no knowledge of, except as set forth below, (a) the existence of any condition or event which constitutes a Default or an Event of Default under the Agreement or any other Loan Document during or at the end of the Relevant Period or as of the date of this Certificate or (b) any change in the Accounting Method or in the application thereof that has occurred since the date of the annual financial statements delivered to the Administrative Agent in connection with the closing of the Agreement or subsequently delivered as required in the Agreement; 5. I hereby certify that, except as set forth below, no Loan Party has changed (i) its name, (ii) its chief executive office, (iii) its principal place of business, (iv) the type of entity it is or (v) its state of incorporation or organization without having given the Administrative Agent the notice required by Section 4.15 of the Security Agreement; 

 

2      6. The representations and warranties of the Loan Parties set forth in the Loan Documents are  true and correct in all material respects as of the date hereof, except (i) to the extent that  any such representation or warranty specifically refers to an earlier date, in which case it is  true and correct in all material respects only as of such earlier date, and (ii) that any  representation or warranty which is subject to any materiality qualifier is true and correct  in all respects;  7. Schedule I attached hereto sets forth financial data and computations evidencing the  Borrower’s compliance with certain covenants of the Agreement, all of which data and  computations are true, complete and correct;   8. Schedule II hereto sets forth the computations necessary to determine the Applicable Rate  commencing on the Business Day this Certificate is delivered;  9. Schedule III hereto sets forth a calculation of the revenue and assets of each Unrestricted  Subsidiary individually and of all Unrestricted Subsidiaries on a combined basis; and  10. Described below are the exceptions, if any, referred to in paragraph 4 hereof by listing, in  detail, the (i) nature of the condition or event, the period during which it has existed and  the action which the Borrower has taken, is taking, or proposes to take with respect to each  such condition or event or (ii) change in the Accounting Method or the application thereof  and the effect of such change on the attached financial statements:                                           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 ,.  _____________________________  By:       Name:      Title:      

 

   1  #153723541_v10  Schedule I to Compliance Certificate  Compliance as of _________, ____ with  Provisions of  and  of the Agreement  

 

   1  #153723541_v10  Schedule II to Compliance Certificate  Borrower’s Applicable Rate Calculation     

 

2      Schedule III to Compliance Certificate  Unrestricted Subsidiaries       

 

1 #153723541_v10 EXHIBIT E  JOINDER AGREEMENT  THIS JOINDER AGREEMENT (this “Agreement”), dated as of [    ], is entered into  between ________________________________, a _________________ (the “New Subsidiary”)  and JPMORGAN CHASE BANK, N.A., in its capacity as administrative agent (the  “Administrative Agent”) under that certain Amended and Restated Credit Agreement dated as of  March 17, 2022 (as the same may be amended, modified, extended or restated from time to time,  the “Credit Agreement”) among Cantaloupe, Inc., a Pennsylvania corporation (the “Borrower”),  the other Loan Parties party thereto, the Lenders party thereto and the Administrative Agent for  the Lenders. All capitalized terms used herein and not otherwise defined herein shall have the  meanings set forth in the Credit Agreement.  The New Subsidiary and the Administrative Agent, for the benefit of the Secured Parties,  hereby agree as follows:  1. The New Subsidiary hereby acknowledges, agrees and confirms that, by its  execution of this Agreement, the New Subsidiary will be deemed to be a Loan Party under the  Credit Agreement and a “Loan Guarantor” for all purposes of the Credit Agreement and shall have  all of the obligations of a Loan Party and a Loan Guarantor thereunder as if it had executed the  Credit Agreement.  The New Subsidiary hereby ratifies, as of the date hereof, and agrees to be  bound by, all of the terms, provisions and conditions contained in the Credit Agreement, including  without limitation (a) all of the representations and warranties of the Loan Parties set forth in  Article III of the Credit Agreement, (b) all of the covenants set forth in Articles V and VI of the  Credit Agreement, and (c) all of the guaranty obligations set forth in Article X of the Credit  Agreement.  Without limiting the generality of the foregoing terms of this paragraph 1, the New  Subsidiary, subject to the limitations set forth in Section 10.10 and 10.13 of the Credit Agreement,  hereby guarantees, jointly and severally with the other Loan Guarantors, to the Administrative  Agent and the Lenders, as provided in Article X of the Credit Agreement, the prompt payment and  performance of the Guaranteed Obligations in full when due (whether at stated maturity, as a  mandatory prepayment, by acceleration or otherwise) strictly in accordance with the terms thereof  and agrees that if any of the Guaranteed Obligations are not paid or performed in full when due  (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise), the New  Subsidiary will, jointly and severally together with the other Loan Guarantors, promptly pay and  perform the same, 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, as a mandatory prepayment, by acceleration  or otherwise) in accordance with the terms of such extension or renewal.  2. If required, the New Subsidiary is, simultaneously with the execution of this Agreement, executing and delivering such Collateral Documents (and such other documents and  instruments) as requested by the Administrative Agent in accordance with the Credit Agreement.  3. The address of the New Subsidiary for purposes of Section 9.01 of the Credit Agreement is as follows:  

 

2                              4. The New Subsidiary hereby waives acceptance by the Administrative Agent and  the Lenders of the guaranty by the New Subsidiary upon the execution of this Agreement by the  New Subsidiary.  5. This Agreement may be executed in any number of counterparts, each of which  when so executed and delivered shall be an original, but all of which together shall constitute one  and the same instrument.  6. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE  PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND  INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.  IN WITNESS WHEREOF, the New Subsidiary has caused this Agreement to be duly  executed by its authorized officer, and the Administrative Agent, for the benefit of the Secured  Parties, has caused the same to be accepted by its authorized officer, as of the day and year first  above written.  [NEW SUBSIDIARY]  By:        Name:        Title:        Acknowledged and accepted:  JPMORGAN CHASE BANK, N.A., as  Administrative Agent      By:        Name:        Title:Exhibit 10.56
STOCK APPRECIATION RIGHTS AWARD
HUDSON TECHNOLOGIES, INC.
AGREEMENT made as of [DATE] (the "Grant Date") between Hudson Technologies, Inc. (the "Company"), a New York corporation, having a principal place of business at PO Box 1541, One Blue Hill Plaza, 14th Floor, Pearl River, New York 10965, and [[FIRSTNAME]] [[LASTNAME]] (the "Grantee").
WHEREAS, the Company desires to grant to the Grantee Stock Appreciation Rights (the "SARs") with respect to shares of its common stock, par value $.01 per share (the "Shares"), under and pursuant to Section 8 of the Company’s 2014 Stock Incentive Plan (the "Plan");
WHEREAS, the Company and the Grantee understand and agree that unless otherwise defined herein any terms used herein have the same meanings as in the Plan.
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties hereto agree as follows:
1.Grant of SARs.  The Company hereby grants to the Grantee SARs with respect to 250 Shares, on the terms and conditions, and subject to all the limitations set forth herein and in the Plan, which is incorporated herein by reference.  The SARs give the Grantee, upon vesting and exercise, the right to receive an amount equal to the difference between the Fair Market Value of a share of the Company’s Common Stock on the date of exercise over the Grant Price multiplied by the number of SARs being exercised (the "Spread"). The Grantee acknowledges receipt of a copy of the Plan.
2.Purchase Price.  The purchase price of the Shares covered by the SARs shall be [$____] per share (which amount shall not be less than Fair Market Value on the Grant Date).
3.Vesting of SARs.   The SARs granted hereby shall vest and be exercisable on or after [________].
4.Term of SARs.  The SARs shall terminate three years from the date of this Agreement (the "Expiration Date").  The SARs may be exercised during their term only to the extent they are vested. All SARs (whether or not vested) shall be forfeited and terminate on the earlier of (i) the date of the Grantee’s termination of employment for any reason and (ii) the Expiration Date.
5.Non-Assignability.  The SARs shall not be transferable by the Grantee otherwise than by will or by the laws of descent and distribution and shall be exercisable, during the Grantee's lifetime, only by the Grantee.  The SARs shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process.  Any attempted transfer, assignment, pledge, hypothecation or other disposition of the SARs or of any rights granted hereunder contrary to the provisions of this Section 5, or the levy of any attachment or similar process upon the SARs or
​

1

such right, shall be null and void.
6.Payment.  The SARs may be exercised in whole or in part (to the extent that it is exercisable in accordance with its terms) by giving written notice to the Company.  Such written notice shall be signed by the person exercising the SARs, shall state the number of Shares with respect to which the SAR is being exercised and shall otherwise comply with the terms and conditions of this Agreement and the Plan.  Upon valid exercise of the vested SARs, the Company shall pay the Grantee the Spread, less applicable withholdings, in either (i) a cash lump sum or (ii) in Shares with such payment being made within thirty (30) days of such exercise, without interest thereon. For the avoidance of doubt, the election to pay the Spread in cash or Shares shall be made by the Company in its sole discretion and the Grantee shall not have the ability to elect the form of payment of the SAR.
7.Stockholder Rights.  Grantee acknowledges that he/she does not have any rights as a stockholder of the Company by reason of a grant of the SARs or settlement of the SARs pursuant to this Agreement unless and until Shares are actually distributed by the Company at its election in settlement of the SAR. Grantee further acknowledges that the SARs only entitle the Grantee, if at all, to an amount determined and payable pursuant to the terms of this Agreement.
8.Notices.  Any notices required or permitted by the terms of this Agreement or the Plan shall be given by hand delivery, overnight courier service, or registered or certified mail, return receipt requested, and sent, if to the Company, at its principal executive offices, and if to the Grantee, at the Grantee’s most current residence address as reflected in the records of the Company or to such other address or addresses of which notice in the same manner has previously been given.  Any such notice shall be deemed to have been given when received in accordance with the foregoing provisions.  Either party hereto may change the address of which notices shall be given by providing the other party hereto with written notice of such change.
9.Governing Law.  This Agreement shall be construed and enforced in accordance with the law of the State of New York.
10.Benefit of Agreement.  This Agreement shall be for the benefit of and shall be binding upon the heirs, executors, administrators and successors of the parties hereto.
11.Section 409A.  The SARs are intended to be exempt from the provisions of Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, as providing for a right to compensation based on the appreciation in value of a specified number of shares of service recipient stock as described in Section 1.409A-1(b)(5)(i)(B) of the Department of Treasury regulations. Notwithstanding any provision of this Agreement to the contrary, in the event that the Company determines that the SARs may be subject to Section 409A of the Code and related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the date hereof), the Company may adopt such amendments to this Agreement or adopt other policies and procedures (including amendments, policies, and procedures with retroactive effect), or take any other actions, that the Company determines are necessary or appropriate to (a) exempt the SARs from Section 409A of
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the Code and/or preserve the intended tax treatment of the benefits provided with respect to the SARs, or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance.  The Company makes no representation or warranty and shall have no liability to the Grantee or any other person if any SAR granted herein is determined to constitute deferred compensation under Section 409A of the Internal Revenue Code.
IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer, and the Grantee has hereunto set his or her hand, all as of the day and year first above written.
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	HUDSON TECHNOLOGIES, INC.

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	By:
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	[[FIRSTNAME]] [[LASTNAME]],Grantee

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3

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